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Lender's written agreement or applicable law. Renewer shall pay the amount o[ all mortgage insurance premiums in the
manner provided under paragraph 2 hereof.
Any amounts disbursed by !.ender pursuant to this paragraph 7, with interest thereon, shall become addition:)
indebtedness of Aorrower +ecured by this Mortgage. Unless Borrower and 7.endtr ~gtbe ~to other terms of payment, such
amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
date of disbursement at the rate payable tram time to time on a?tstanding principal under the Note unless pa`yeeratt of
interest at such rate would be contrary tD applicable taw, 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 expetae or tape
any action hereunder. l
>L Itrspectbw. i_ender may make or cause to be made reasonable entries upon and inspections of the Property, provided
that tender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
interest. in the Property.
9. Cowtkwastbw. The proceeds of any award or claim for damages, direct or consequential, in connection with any
condemnation or other taking of the Properly, or part t)?ercof, or tar conveyance in lieu of condemnation, are hereby assigned
and shall be paid to Lender.
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 Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
otherwise agree in w»ling, 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 p»or to the date of
taking bears to the fair market value of the Properly 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 tender to Borrower tl?at the condemnor otters to make
an award or settle a claim for damages, Borrower fails to restx?nd to lender within 30 days after the date such notice is
mailed, i.ender is autho»zed to collect and apply the proceeds, at tender's option, either to restoration or t+epair of the
Properly or Io the sums secured by this Mortgage.
Unless !.ender and Borrower otherwise agree in writing, any such application of proceeds to principal shall mot extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount o[
such installments.
10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums aecurtd
by this Mortgage granted by [.ender to any successor in interest of Borrower shall not operate to rckue, in sny manner,
the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
proceedings against 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 successor in interest.
11. Forbeararree by I,atder Nof a Waiver. Any forbearance by i.ender in exercising any right or remedy hereunder, or
otherwise afforded by applicable taw, shall not be a waiver of or preclude the exercise of any such »ght or ttrrtedy,
The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
»ght to accelerate the maturity of the indebtedness sect?rrd by this Mortgage.
1Z. Rewedks CaraahNire. All rcmtdies provided in this Mortgage are dislinei and cumulative to any other »ght or
remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
13. Successors gad Aatiigas lsouad:.)Dial gad Sereral i.iab~ty; Captiotas. '11?e covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender attd Borrower,
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joirg and several.
The captions' and headings of tht paragraphs of this Mortgage are for convenience only and art 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 !o
Borrower p~+ovided for in this Mortga¢e shall be given by mailing such notice by certifikd mail addressed to Borrower at
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 Lender'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. Usitorw Mortgage; Goreraiag Law; Severability. This form of mortgage combines uniform covenants for national t
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 taw of the jurisdiction in which the Property is located. Iri the
event that any provision or clause of Chic Mortgage or the Note conflicts with applicable law, such conflict shag not affect
other provisions of this Mortgage or the Note which can be given eQect without the conflicting provision, and to this
end the provisions of the Mortgage and the Note arc declared to be severable. -
16. Eorrowcr's Copy. Borrower shall be furnished a conformed cop)• of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17..Traasfer of fire Property; Assarrrptioa. If 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 Titn or enctimbranee subordinate to
this Mortgage, (b) the crcatton of a purchase money security interat for household appliances, (c) a transfer by devise,
descent or by operation of law 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. Lerrckr
and the person to whom the Property is to be cold or transferred reach agreement in writing that the credit of such person '
is satisfsctory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate ac Lender i
shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
interest has executed a written assumption agreement accepted in writing by tender, Lander shall release Borrower from all -
oblijations under this Mortgage and the Note.
1f Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance M•ith
paragraph 14 threof. 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 arms prior to the expiration of such period,
[.rnder may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 1R hermf.
Non-UNIFORM COVeruNTS. Borrower and Lender further covenant and agree as followrs: ~
li. Accderadou; Rewedks. Lscept ss provided is pragrspr 17 Itercot. trpw )<orrower's Meaclr of gay corewawt er
of Dots~owss b: fhb Me:lgsgt!, larltNir?g tiK eorewswh to pay wiew due gay sows ttectrrsd by lib Mortgage. Lender
'rbr to scceteratlow slap ~ wotlce to •orrower ss provided b pragrapb 14 rttreo[ sNeclcyirtg: (1) fire breaei: (21 the snMa
rgdrei to cure ttucr kreach; (3) a date, got las draw 30 days iraw tie dale fire adke i arsikd to aerruwer. ~ wikr strclt
braelr wtrrt be esred; awl (4) fiat tailtrre to care ssci bresci ow or ietorc the dale specYsd iw tic aotke way resah iA
sceeleradew o/ Ire soars setaced by tila Mortgage. toreciosare b jadkW proceednwg awl sale of tic h+operty. Tie wotiee
slap (artier hcorw >sorrower of tie right b rNastafe steer aeederatiow sad ere right b attstM h ere foretiowre proeee+Rwg
ere woarettbtttree of a dettt+ak or awy otter decease of >:orrower to accekntbw gad taetbwre. R tie breast lr us/ ertred ow
or before tie dale s*eciRed fi ere tsotice, Lewder st I.ewder's opba wsy declare sft of ere srtrwa ttttcurcd try trls Mwtgspe is be
btraredisttrfy due awd pyable wkrowt Cartier demand gad way fotrccloat lib MDrfsage rY jodklal prottediag. Lender chap
be eMilled to coped iw suer poeeediag aN e:pcsses of cDrcciostrrc, iwch+disg, but ttwt (baited fo, reasoasble tm•,rner't fees,
atri costs of doet.-!uerrtarp eridewce, abshacts swd tick rcprb.
If. •orrowa's Rtgitt to Reiwstate. Notwithstanding Lenders acceleration of the stems secured by th?s Mortgage,
Borrower shall have the »ght to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
327 PeGE 267