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Lenders 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 dislx+rsed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
indebtedness of Borrower secured by this Mortgage, . Upkss Borrower and lender agree to other terms of payment, such
amounts shall be payable upon notice froth Tender to Borrower rcyt+esting payment thereof, and shall bear interest from the
date of disbursement at the rate payable from tirrx to time on a+tstanding principal under the Note unless payment of
interest at such rate would be contrary to applicable law, in which event such amounts shall hear interest at the highest rate
pet•rrtissibk under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expetae or take
any action hereunder. -
lwspectiow. Lender may make ar cause to be made reasonable entries upon and inspections of the Property, provided
that Lender shall give Borrower notice prior to any such inspection specifying reasonable caux therefor related to Lender's
interest in the Property. -
9. Cortdemwatbw. The proceeds of any award or claim for damages. direct ar consequential, in connection with any
condemnation or other taking of the Property, or part thereof, ar for conveyance in lieu of condemnation, are hereby assigned
and shall_be paid to Lender.
In the event of a fatal taking of the Property. the proceeds shall he 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 writing. there shall be applied to the sums xct+red by this Mortgage such proportion of the protxeds
as is equal to that proportion which the amount of the same scci+red by this Mortgage immediately prior to the date of
taking bears to the fair market value of the Properly immediately pricer to the date of taking, with the balance of the proceeds
paid to Borrower.
if the Property is abandoned by Bar:ower. or if. after notice by Lender to Borrower that the condemnor offers to make
an award ar xttle a claim far damages. Borrower fail. to respond ta• Lender within 30 days after the date such notice is
mailed, Lender is authorized to collect and apply the proceeds. at i.et+der's option, either to restoration or repair of the
Property or to the sums secured by this Mortgage. -
Unle;s Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
or postpor+e the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Borrower Not Rckased. T:xtension of the time for payment or modification of amortization of the sums. stxur+ed
by this Mortgage granted by [.ender to any successor in interest of Borrower shall not operate to release. in any manner,
the liability of the original-Borrower and Bwrrower's successors in interest. Lender shall not be required to commence
proceedings against such successor or refuse -ta 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 Borrowers strccesson in interest.
_ 11. Forbesrawce by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, 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 ar other liens or charges by Lender shall not bt a waiver of Lender's
right to accelerate the maturity of the indebtedness secured 6y this Mortgage.
12. Rewtedies Cwmuhtl~e. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law ar equity, and may be exercised. concurrently, independently or successively.
' i3. Successors aced Araigws bound; Joint gad Stverwl i.iabr7itp; Captlows. The covenants and agreements ht:rcin
contained shat{ bind, and the rights hereunder shall int+re 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 jolty and several.
The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to lie used to
interpret or define the previsions hereof.
11. Notice. Except for any notice rcgt+ircd under applicabt law to be given in another manner, (a) any notice to
Borrower provided for in this Martga¢e shall be given by mailing such notice by certifed mail addressed to Borrower at
the Property Address or at such abet 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. Uwifors ModRage: Govcrntrtg Law: Severability. This form of mortgage combines uniform covenants for national
use and torn-uniform covenants with limited Vafiatian5 by 1LlrisdlC[i0O 10 COMtitltlC a unlforrti secunty IDStrumenl 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 ar the Note conflicts with applicable law, such conflict shall not atfM
other provisions of this Mortgage or the Nate which can be given eQect without the conflicting provision, and to this
end the provisions of the Mortgage and the Nate are declared to be severable.
16, Borrower's Copy. Borrower shat! be furnished a conformed cop~• of the Note and of this Mortgage at the time
of executan or after recordation hereof. -
17. ,Traesfcr of the Property; Asaamptiow. 1f all ar any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior writ+rn consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the crcat+an 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 jaunt tenant or (d) the grant of any leasehold interest of three years or less
not containing an option to purchax, 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 wk or transfer, Lender
and the person to-whom the Property is to be call or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interc~t payable on the sums secured by this Mortgage shall be at st+ch rate ac Lender
shall request. Tf 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.
1f 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 notice is mailed within
which $orrower may pay the sums declared due. If Borrower fails to pay such st+ms prior to the expiration cf such period,
[,ender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 1R herecf.
NoH-UNtcotu?r CovertertTS. Borrower and Lender further covenant and sgr+ee as follo+rs:
ttl. Aceekratiow; Resediea. Except ac provided For pragrapY 17 rt:reot, topw 1<orrowtnr's bratA of tt.y coveawt K
agretiewt of >sorrawer d iris M floc co•et+aais :e -a:w dt:e Ny +!ter.ei M this Mortgage. Lewder
a+tg~• iwi
prbr to wcctkrMlow idol tttiwN ootke to lorrower s provided iw pwra~raplt 14 Merrof specifyiag: (1) ire brewer: (2) ire setiow
rigwired N ewre ttwcr btYwcb; (3) a dttRe, wa less traw 30 days tr+uwr ire date ire ttwtict iia ttattiied to llorrawer. by wrier stet
brewer mttrR be stilted; tttttd (Q trat hilrre to ern rarer btnzwcr a or befors ire date speelAea b the wotice sat trestdt b
aceekratiow d tltc trttw.s tttcwted by iris Mortgage. fotecbstrre b f~~ !*«~i"L tttai sale of trc Pru'crty. Tre tratee
ttraY fwrtrer iwfotrrw >dotrower of rite triRrt to reiwsWe after wccekratiow fiord fire cigltt to strocrt b tre foreclowte pceetlMwg
tie now-exWewce of w defadt or gory arrr defswse of sorrower to aecekratlow swd torecloarre. N ire 6rexr M wM etnted at
or before the dtNe spelled i ire wotice. Lewder at I.ewders optbw stry declare till d ire swtws seewted by Nils MortgtrRe b be
' i•scdtddr are arrd pyabie witrowt fwrlrer demand and may foredoae this Mortgage ry jwdkW procseditrg• Lender shah
be ewtitltd to eoYect•Iw srrcr proeeediaL sB expwses rat farecloswre, iwdwdiwg. brt that Brwitd tb. trcawwabie stturt+etr's fees.
fiord casts of tibcr.-serttary eHdcwce, abdrwces and tick reprts.
19. iernowa'a Rigrt to Reiwtgate. Natwithstandintt Lender's ttccekration of the sums secured by th+s Mort6age,
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
BLOK 3~.0 PbGE
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