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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
manner provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to this paragraph 7, with interest tl(ersagt • daall become additional
indebtedness of Borrower securt:d by this Mortgage. Unless Sarrower and lender agree 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 from time to time on outstanding principal under the Note unless pa'yrnent of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest me
permissible under applicable law. Nothing contained in this paragraph 7 shall roquire Lender to incur any experae or take
any action hereunder.
g. Iwspectiow, 1_ender may make or cause to be made reasonable entries upon and inspections of the Property. provided
that [.ender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
9. Condemaatba. 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 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 tfie event of a partial taking of the Property, unless Borrower and Lender
otherwix 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
takirt~ 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 Bor:ower, or if. after notice by lender to Borrower that the con_ demnor offers to make
an award or settle a claim for damages, Borrower fait. 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, eithtr to restoration or repair of the
Property or t~ the sums secured by this Mortgage. ,
Unless l_endcr and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
or postpone the due date of the monthly instaHmcnts referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
1®. Borrower Not Released, Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by Lender to any wccessor in interest of Borrower shalt nw operate to release, in any manner, _
the liability of the original Borrower and Borrower
c successor in interest. Lender shall no! 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 successors in interest.
11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right ar remedy hercunckr, or
otherwise afforded by applicable law. shall not be a waiver of or preclude the exercise of any such right or remedy.
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. Remedies CamaWlrt. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
13. Successor gad A~ws Sound: Joint and Serersal I.iab~ty; Capthaas. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to. the respectivt successors and assigns of Lender and Borrower.
subject to the provisions of paragraph 17 hereof. Alt covenants and agreements of Borrower shall be jolty and several.
The captions and headings of the paragraphs of this Mortgage arc for convenience only and are not to be used to
interpret or define the provisions herrnf.
14. Notice. Except for any notice required under applicable law to fie given in another- manner, (a) any notice to
Borrower provided far in this Mortga¢c shall be given by mailing such notice by certited mail addressed to Borrower at
the Property Address or at such dher address as Borrower may designate by notice to i_ender as provided herein, and
(b) any notice to Lender shall be given by certified mail. return receipt requested. to t.ender's address stated herein or to
such other address as Lender may designate by notice to Borrower as provided htrcin. 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.
lS. Ussiform Mortgage; Governing Law; Severability. 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 property. 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 Note which can be given eBect without the conflicting provision, and to this
end the provisions of the Mortgage and the Note are declared to be severable.
' 16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17. ,?r:a3fer of the Property; Assumption. Tf all or any pan of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior writtrn consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the ci-eat~on of a purchase money security interest 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 soured by this Mortgage to be
immediately due and payable. Lender shall have waived such option to asxeterate if, prior to the sale or transfer, Lender
and the person to whom the Property'ic'to be cold 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 raft as 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 al!
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 of not less than 30 days from the date the tadice is mailed within
which Borrower may pay the sums dalared due. If Borrower faits to pay such arms prior to the expiration of such period,
fender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 18 hereof.
Norr-[JNIFORM COVENANTS. Borrower and Lender further covenant and agree as fOliorrs:
lg. Acederadow; Retwielia. B:cep m provided iw paragrapi 1? itrsd. spot istsowwr's breath o! say csrs~! ~
agreetrewt of Bon+ower b thbs Mortgage. hrehiditsg the corcwawts to py whew doe ay slaws secwrtl b this MorlRstge. i.ewde*
psriotr b seceicratloa sharp waN aotke to Sonowtr ac'roviled iw paragraph 14 herto[ rpeifrlw~ (1) the breach; (2) the setiow
rgtr4esil b cure swei breast; (3) • date, woe less than 30 days trorw the late the wotke r wapel b Borrower, by whist suet
breach mwrt be tm'td: awl (4) that failure to cwre sash breach a or be[ors the daft geciietl 4 the woNce waf sresrrlt b
acceleration of the sear secwrrl by this Mortgage. foreclosure ti jrdkW pocsedMtg awl bale of the Pw'trty. 'I1re wsrtke
siaY frrtier iaforas Botmower of the right to relwsWt alter accekratbw gal the right to atwxrt h the toreeloasre rroeettlritts
tie stow.esirtetnce of a iefssuit or swy other s:Ntts~ ssf Ilasrsswtr !ti arrtltrcliow at~l forteiwwtsre. B the MracM ba woe tariel oa
or betorc the siMe spefiol is the woiice. Leader at Leader's o'tiow stttar testate ai of the surws sscwrsl ~ thls Mortgage b fie
iaotldtely tae gal pyabk wkhoul turther demand sand orgy /oreebre this Mort~agt by ~tsileW proeeediwg. i.ender chap
be estltler to coptet r costa pr~oceediag cep a:peaces of foreelosure. hxiidiag. but aM Wrsittri ice. rtrowwbk sNt•,raev's fees.
aai eottfr of siocs:!tsattary eridewct, absdacts ad title rcprb.
• 19. lorrowa's Rfgbt to ReteMate. Notwithstanding Lenders sccekration of the sums secured by thro Mortgage,
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at goy time
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