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I.ender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premium: in the
manner provided under paragraph 2 hereo[,
Any amounts disbursed by Lender pursuant to this para~raph~,~,=Mrit~L interest thereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
amounts shall be payable upon notice from !.ender to Borrower requesting payment thereof. and shall bear interest ft+om the
date of disbursement at the rate payable from time to time on wttstanding principal under the -Note unless pa'yruertt o[
interest at such rate would be contranr to applicable law, in which event such amounts shall bear interest at the highest rate
permissible-under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or tape
any action hereunder.
>l. Inspeetioa. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided
that Lender shall give• Borrower nMice prior to any such inspection specifying reasonable cause therefor rei:ted to Lender's
interest in the Property.
9. Cowdemwaliow. The proceeds of any award or. claim for damages, direct or consequential, in connection with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, arc hereby assigned
and shall be paid to Lender.
in the event of a total taking of the Property. the proceeds shall be apDletd to the sums secured by this Mortgage,
with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower grid Leader -
otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
paid to Borrower.
If the Property is abandoned by Borrower. or if. after notice by lender to Borrower that the condemnor offers to make
an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date such notict q
mailed, Lender is authorized to collect and apply the proceeds. at I~nder
s option, either to r~estontiar or repair of the
Property or to the sums secured by this Mortgaje.
Unless.Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hetrnf or change the amount of
such installments.
10. Borrower Not Released. Extension of else time for payment or modification of amortization of the sums secured
by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner,
the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
proceedings against such successor orrefttu to extend time for payment or otherwise modify amortization of the sums
secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
11. Porbearsnce br Lender Not a Waiver. Any fortxarance by Lender in exercising any right or rerrredy hereunder, of
otherwise afforded by applicable law. shall not be a waiver of or preclude the exercise of any such right or rerrredy_
The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Rewredies C,rmulatlve. Ail remedies provided in this Mortgage arc distinct and ~ussr::l3tivt to any other right or
remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
' 13. Suecessors gad AsalRas laout+d: Joint gad Several inability; Capfbes. The covenants and agreements herein
contained shall bind, and the rights hereunder shall intrr~ to. the respective successors and assigns of Lender gad Borrower.
subjeM to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joiry and several.
The captions ~ and headings of the paragraphs of this Mortgage are for convenience only and arc not to be used to
interpret or define the provisions hereof.
14. Notke. Except for any notice required under applicable law to be given in another manner, (a) any notice to
Borrower provided for in this Mortgage shall•be given by mailing such notice by certifkd mail addressed to Borrower at
the Property Address or at such abet address as Borrower may designate by notice to 1_endtr as provided herein, and
(b) any notice to Lender shall he given by certified mail. return receipt requested, to fender's address stated herein or to
such other address as Lender may designate by notice to Borrower as provided herein, Any notice provided for in this
Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
1S. Uniforan MortRaxe; Governing Law; Sererability. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
real properly. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
other provisions of this Mortgage or the Nnte which can be given effect without the conflicting provision, and to this
end the provisions of the Mortgage and the Note are declared to be severable.
16. >sorrower's Copr. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation htrrnf.
]7. ,Transfer of tbK Property: Assumption. )f all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the creatron of a purchase money security interest for household appliances, (c) a transfer by devise.
descent or by operation of fan upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less
not containing an option to purchase, Lender may: at Lender's option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer. Lender
and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate ac Lender
shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrowers successor in
interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
obligations under this Mortgage and the Note.
if Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period ~f not less than 30 days from the date the notice is mailed within
which Borrower may pay the sutra declared due. If Borrower fails to.pay such sums prior to the expiation of each period,
Lender may, without further notice or demand on Borrower, invoke any remedies perrrtititd by paragraph l8 hereof.
No»-UNtrotttK Covetvwrrrs. Borrower and Lender further covenant and ague as follows:
l0. Aceeleratioa; Rewedks. Except as provided is paragraph 17 hereof, npw sorrowa'a breath of gar covenant or
agreement of rorrower ~ tr4 MoM=age. iwetndirrg the coreaawfs to Ntf whew dwe swy swr seewred try tldr Mortgage. I.ewatr
priior to accckratba spar stall aotke to Iorrower as provided Iw paragraph 14 frereaf speeifrla~: (1) the btescb: (2) tUe scUoa
rerlsiircd to Bare sack b~rcach; (3) w datrt, not less thaw 30 days trorn the date the wotke Y tsraikd to •on~ower. by wWch such
breath rants be csrtd; gad (4) tint faNrrrc to care arch breach a or fbefore the date s*ecilied r Use notlee war resale !w
aeceleratiorr of ere rrtxtrs secured br this Mortgags. toseclosrrre h7' jrdkial proeeedlwg awl ale of the Troperir. 71re wotkt ,
slat ftrrthcr 6tforwr lsorra?wer of the right to tefwstate after sceekratbw swd the right io rtarert h the toralowre }rocetdbrg
ttte wow~exWewce of w ieGtuf~t or awn other defense of >sorower to socektatbw awl torcclosare. N tt~rt breach b not cared o0
or before the dale speifaed Yr the notice. Lewder at i.ewder's option. wrar declare ar o[ the wars stetrred br t?fs Mortgage fw be
immedhtelr due swd prabie without father demand need oar /orctloat th4 Morfiage ttp judkW proceednsR. Lender shah
be eatBled to c~oilett M suc<t pra~teediwg sr expenses of foreclosure. iutiudiwg. bN aN Ilrtditd to. rtasoasbie sttnrneya fees.
aai ta4 of doc.!wewtarr eridcaee. abstracts and title report.
19. liorrowa's Rlght to Reirtate. Notwithstanding Lenders acceleration of the sums secured by thrs Mortgage,
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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