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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgsge insurance premiums rn the
manner provided under paragraph 2 hereof.
' Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become sdditional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and [.ender 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 aitstanding principal under the Note unless paynnertt of
interest at such rate would be contrary to applicable law, in which etie+-.i ;ugh amounts shall bear interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expettx or take
any action hereunder. •
>L Iwspecliow. lender may make or cause to he made reasonable entries upon and inspections of the Property. provided
that tender shall Rive Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property,
9. Cowdewraatbw. The proceeds of any award or claim for damages, direct or consequential, in connection with any
condemnation ar other taking of the Property, or part thermf, or for conveyance in lieudf oontkmnation, arc hereby assigned
and shat! be paid to Lender.
in the event of a total taking of the Properly, the proceeds shall be applied to the sums secured by this Mortgage.
with the excess, if any, paid to Borrower. ]n the event of a partial taking of the Property, unless Borrower and Lender ,
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 i.ender to Borrower that the condemnor often to matte
an award or xttle a claim for damages, Borrower fails to respond to Lender within 30 days after -the date such notice a
mailed, Lender is authorized to collect and apply the proceeds. at Lender's option, either to restoration or repair of the
Property or to the sums secured by this Mortgal¢e.
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 hereof or change the amount Of
such installments.
19. 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 cuccecsor in interest of borrower shall not operate to release, in any manner,
the liability of the original Borrower and Borrower i successors in interest- Lender shall not be required to commence
proceedings against such successor or referse to extend time for payment or otherwise modify amortization of the sums
secured by this Mortgage by mason of any demand made by the original Borrower and Borrower's successors in intereu.
11. Forbearawce M' Lewder NM a Waiver. Any forbearance by lender in exercising any right or remedy heramder, or
otherwix afforded by applicable law, shalt 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 Lenders -
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Rewsedks Camwhttitre. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortgage or aRorded by law or equity, and may be exercixd concurrently, independently or successively.
13. Swccewors awd AssiRws bowwd; Joint sad Seved i.iablitr; Captions. The rnvtnants and agreements herein
contained shall bind, and the rights hereunder shall in?rr~ to. the respective successors and assigns of Lender and 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 the paragraphs of this Mortgage are for convenitrrce only and are not to lk used to
interpret or define the provisions hereof.
11. Notice. Except for any notice rcyuired under applicable law to be given in another manner, (a) any notice to
Borrower provided for in this Mortga¢e shall be given by mailing such notice by certified mail addressed to Borrower at
.the Property Address or at such other address as Borrower may designate- by notice to Tender ai provided herein, and
(b) any notice to Lender shall he given by certified mail, return receipt requested. to tenders 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 m:Hoer designated herein.
lS. Uwifonw MortRaRe: Govcrwiag Law: Severabililr. This form of mortgage combines uniform covenants for naYronal
ux 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 Proptrty is located. 1n 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 effect without the conflicting provision, and to this
end the provisions of the Mortgage and the Note are declared to be severable.
lf. borrower'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..Trawder of tie Property: Assumption. If all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lenders prior written consent. excluding (al the creation of a lien or encumbrance wbordinate to
this Mortgage, (b) the creation of a purchase money security interest for household appliances, -(c) a transfer by dtvise.
descent or Dy 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, Lender -
and the person to whom the Property is to be co1J 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 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 accNerate, 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 notice is mailed within
which Borrower may pay the sums declared due. If Borrower fails to pay such s<tms prior to the txpintion of such period,
Lender may, without further notice or demand on Borrower. invoke any rrmedies permitted by paragraph 1A hereof.
NoK-Utvtt:oaat CovetvarrTS. Borrower and Lender further covenant and agree as folto+vs:
li. Aeeeleratiow; Rewaedks. E:cep[ w provided iw paragrwri 17 bend. ~w borrowers bscaei d awy coreaawt er
agreewewt d borrower fsa tics Mont=age, iaehadiwg the cor?ewawts to pr wisp dae nor sawas accarei br tYs Mortgage. l.ewier
prior tb acoeleratloe star rwar wotke to borrower as'rovNei io panrgra*i 14 [scree[ spccitrlag: (1) tic bread: (2) tie wctiow
regdrd b core wet 6scaci; (3) • rate. rat less flaw 30 days [raw tie Gate tie police r taared is borrower. it wiki swci
bracts rwart k ctsrc8; alai (4) fiat faWare to cwre swcir bread err or iefone tic date s'ccified Iw tic wotke wur r+esdt r
-aea~ekrniow d tie wtws sccwci br tits Mortgage. torectosan b' jddlcW poeeedi~g awtl sale d tie Rropentr. Tic raotka
star fwrtier iwfonm borrower d tic right to reinstate after accelenatbw awd tie right b assert i• tie foreeieswre ~n~oeetitag
fire wow-a:Wewee 4t a refawlt or nor otter detewse d borrower to txcelcrMbsr srra forecbwa. H tie bread is wet cwsd o0
or before tie dale ga~iicd V tie wotiee. Lewder at f.ewder's optitrw ray declare d d tie sews xewred br tlds 1t~IontgaRe Is k
iwwaei6ttelr Brae scat prabie witlroat fattier demand awd war forcclotc ti4 Montgsge br JtadicW'nteediwK. Lender slap
be to collect r siei'roeeediag ar expe.sa s.f fotccbswn. Machadiag. bd wet podted to. ncasowabk staxwer's fees.
awl ewes d aioca:!raewdtry eridewce, abstracts sad lick rtprb.
1!. lonnowa's Wart to RelaNate. NotwithstandinE Lenders acoekration of the sums securr;d by thn Mortgage,
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
~~'~328 PaCE 153
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