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Lender's written agreement or applicable Mw. Borrower shall pay the ,mount of all mortgage insurance ptemiuaa in the -
manner provided under paragraph 2 hereof. G
Any amounjs disbursed by (.ender pursuant to the paragraph 7, with interest (hereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and 1;ertdt!r Itar~M other terms of payment, such '
amounts shall be payable upon police from (.ender to Borrower roquesting payment therco~ and shall bear interest Goat the
date of disbursement at the rate payable from time to time on attstanding principal under the Note unless paynteat of
interest at such rate would be contrary to applicable taw, in which event such smarnts shall bear interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur gay exptatae or fate
any action hereunder. - I
>L lsarectiow. Tender may make or cause to be made reasonable entries upon and inspections of the Property. provided {
that Lender shall give Borrower trdice price to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property. ;
9. Cowderwwatbw, 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, are hereby assigned
and shalt be paid to (.ender. ~
in the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage,
with the excess, if any, paid to t3orrawer. in the event of a partial taking of the Property. unless Borrower and Fender
otherwise agree in writing, there shall be applied to rho sums secured 6y 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 Propeny immediately prior to the date of taking, with the balance of the proceeds
paid to borrower.
if the Property is abandoned by Bor:over, or if. after notice by lender to Borrower that the condemnor oRers to melee
an award or settle a claim for damages, Borrower tails to respond to Lender within 30 days after the date such notice is ~
mailed, Lender is authorized. to collect and apply the proceeds. at Lender's option, either to restoration or repair of the
Properly or to the sums secured by this Mortgage.
Un1ESS Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extetrd
or postpone the due date of the monthly installments referred to in paragraphs 1 :<rd 2 hereof or change the amount of
such installments.
it. Borrower Not Released. Extension of the time for payment or modifkation of amortization of the sums aectrred
by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to aksse, in any manner.
the liability of the original Borrower and Harrowers successors in interest. Lender shall not be required to commence
proceedings agairut such successor or refuse 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. Forbearance b7' Lender Na a Waiver. Any forbearance by Lender in exercising any right or rrrrtedy lreretrrrder, or
otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or t+emedy.
The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Leader's
right to accelerate the maturity of the indebtedness warred 6y this Mortgage.
12. Res~eika CwrwslatMe. All remedies provided in this Mortgage are distinct and cumulative to any other right or
rem under this Mort a or afforded h law or s
edy g ge y equity, and may be exorcised concurrently, independently a sucoessiveiy. I
' 13. Successors and Asdgwa Bouwd: Jotwt awl Several T.fabilky; Captions. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inuug to. the.respoctive strcceaors and assigns of Lender apd Borrower,
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joiry and several. 1
'Ilre captions' and headings of the paragraphs of this Mortgage arc for convenience only and are not to Ile used to i
interpret or define the provisans hereof.
14. Notice. 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 bt given by mailing such notice by certifled mail addressed to Borrower at F
the Property Address or at such other address as Borrower may designate by notice to Tender as provided herein, and
(b) any notice to Lender shall he given by certified mail, return receipt requested. to Lende>'s address aattd 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 t4 have been given to Borrower or Lender when given in the manner designated herein.
iS. Utsiforas Mortgage: Goversisg Law: SeverabBity. This form of mortgage rnmbines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In tht
event that any provision or clause of this Mortgage or the Nate conflicts with applicable law. such conflict shaft not stied
other provisions of this Mortgage or the Note which can be given eBect without the conflicting provision. and to this
end the provisions of the Mortgage and the Note arc declared to be severable.
lf. Ibrrowers Cory. Borrower shall be furnished a conformed copy' of the Note and of this Mortgage at the time
o[ execution or after recordation hereof:
l7..Trawder of the Property: Asswmptiow. 1f 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 creation of a purchase money security interest for household appliances, (c) a transfer by devae,
descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three yeah 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 acxekrate it. prior to the sale or transfer. Lender
and the person to whom the Property is to be card 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 as Lender
shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower i 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, (.ender shall mail Borrower notice of acceleration in accordanc-c v?•ith
paragraph 14 heteof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
which Borrower may pay the sums declared due. If Borrower faits to pay such sums prior to the expiation of such period,
(.ender may. without further notice ar demand on Borrower. invoke any remedies permitted by paragraph 18 hereof.
Nort-Uwtt~ottns Covt=.tvetrrs. -Borrower and Lander further covenant and agree u fopows:
1><. Aceeieratiow; Remedies. IFscept sa rroviticd iw Nrrtgrarlr t7 ireneot, ttPow liorrswerts Mssd of aq cNerM or
apee•art of Isenower is this Mortgage, trc co~?ewawts to ray when tae sry sssrta seess+ei ti tYs Metrtgage.llwwierr
rrlor b at:eek:aders draft rsatY rsotiee to florsewerr as rrovtiee it pragra*b 14 tt+ercot geeityirgr (1) tYe Meaelr: (2) the setter
roywitei to erne wen Meae~ (2) a iMe, wet less Ittaw 3t days tr+orr the isle ~e wofiee it twaYti N liornwer. b wWelY swei
Meseta suet Oe tssei; awl (4) flat tailsns M trace arch rraett or of M:tose the iatt arer,~iisi i• the tsotice gay resrit iw
aeeeleealier o[ tae ortar aeesssi ~ tYs Mortgage. b~seloasre r7 l.ifei~i rsoeseiin~ awl ts.le of the Prorerty. 'l1~e rmtiee
daY f!aitre? istotrrr liertrwwen of the right M se~wte after aeeeknMiow awl ttre right to assert iw the tosoelaasse rsoeeoiag
t>re wow~e:Mewee d a ietasit or rrwy otAetr rktessc of Borrower to accekrstfow awl tostelorrss. K tMe tt~srcaeM it wet etaroi aw
or bdone the late sreeiiei i• ire wotfce, Lewder st i.ewier's o'tiow say detHre a• of the assns stctrei iir this Mortgage w k
iw.eii.teiy awe ant paysMe wltbM tartlrer deg+aad sae way torsebse rids Meelgage b ~W ~aeaeii~t• Lewder daY
tae ewtMisi to collect L osteM rsweeeiisg all esrenses of toreclossrrt, Irelriiag, cwt wet ¦tsifai Mr teaaoraMe attwrrev's fees.
awl eosas of isct.-mewtsry evidewa. alshscB awl tMk rcroAs.
1!. liotrsowa't Right to RalnMafe. NotwithstandinE Lender's acoekrstion of the sums secured by tht• Mortgage.
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any tune
~~326 PaGE144~