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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 Tender pursuant to this paragraph 7, with interest thereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower 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 payment of
interest at such rate would be contrary to applicable law, 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 expense or take
any action hereunder. -
8. Inspectloa. i_ender may make or 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 cause therefor related to Lender's
interest in the Property.
9. Coademnatbn. 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.
Tn 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. Tn 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 sect+i•ed by this Mortgage immediately prior to the date of
raking bears to the fair market value of the Propert}• immediately prior to the date of taking, with the balance of the proceeds
paid to Borrower.
if the Property is abandoned b}• Borrower, or if. after notice by Lender to Borrower that the condemnor offer to make
an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date such notice is
mailed, Tender 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 Mortgage. j
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 I and 2 hereof or change the amount of
such installments_ i
10. Borrower Not Released. Extension of the time for payment or modification of amortization of the st+mc secured
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 Borrower's successors in interest. i.ender 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 Borrowers successors in interest. #
11. Forbearance by Lender Not a Waiver. Any forbearance b}• Lender in exercising an}• right or remedy hereunder, or t
otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. i
-The procurement of insurance or the payment of takes or other liens or charges by Tender shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Remedies Cumulative. All remedies provided in this I?iortgage are .distinct and emulative to any other right or i
remedy under this Mortgage or afforded by law• or equity, and ma}• be exercised concurrently. independently or successively.
13. Successors and Assigns Bound; Joint and Several i.iability; Captions. The covenants and agreements herein
contained shall hind, and the rights hereunder shall inure 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 joint 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 hereof.
T4. Notice. Except for any notice required under applicable law• to be given in another manner. (al any notice to
Borrower provided for in this Mortgage shall be given h}• mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate liy notice to lender as provided herein. and
i (h) any notice to Lender shall be given by certified mail. return receipt requested. to Lenders address stated herein or to
such other .address as Tender -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 1_ender when given in the manner designated herein_
1 S. Uniform Moril;age; Governing I.aw; Se.•erabilih•. 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. The f
state and local laws applicable to this Mortgage shall be the laws of the jurisdiction in which the Property is located. The foregoing
sentence shall not limit the applicability of federal law to this mortgage. In the went tha[ 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.
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. Transfer of the Property: Assumption. 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 lien or encumbrance. subordinate to i
this Mortgage. (bl the creation of a purchase money securih• interest for household appliances. (c) a transfer by devise, s
descent i?r by operation of law• upon the death of a joint tenant or Idt the grant of any leasehold interest of three years or less
not containing an option to purchase. Lender may, at 1_cnder's option, declare all the sums secured b}• this Mortgage to be '
immediately due and payable. Lender shall have w•;+ived such option to accelerate if. prior to the tale or transfer. Lender
and the person to whom the Property is to be sold 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 Ihic Mortgage shall be at such rate as Lender
shall request. If bender 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 Lender. Lender shall release Borrower from all
obligations under this Mortgage and the Note. x
If [.ender exercises such option to accelerate. 1_ender shall mail Borrower notice of acceleration in-accordance with
paragraph 14 hereof. Such notice shall provide a period of not Icss than 30 da}•s from the date the notice is mailed within
which Borrower rttay pay the sums declared due. if Borrower fails to pay such sums prior to the expiration of such period.
Lender may, without further notice or demand on Borrower, invoke an}• remedies permitted by paragraph 18 hereof.
Note-UNIFORM Coot=tv,xxTS. Borrower and Lender further covenant and agree as follows:
18. Acceleration; Remedies. Except as provided in paragrapb 17 hereof, upon Borrower's breach of any covenant or
agreement of Borrower in this Mortgage. including the covenants to pay when due any sums secured by this Mortgage, Lender _
prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the bcesch; (2) the action
required to cure such breach; (3) a date. not less than 30 days from the date the notice is mailed to Borrower, by whkb such
breach must be cured; sad (4) that failure to cure such breach on or before the date specified in the notice may resort in
acceleration of the sums secured by This Mortgage. foreclosure by judicial proceeding and sale of the Property. The notice
shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding '
the non-existence of a default or anv other defense of Borrower to acceleration and forecbsurc. If the breach is not cured on
or before the date specified in the notice. Lender at Lender
s option may declare all of the sums secured by this Mortgage to be
immediately due and payabk without further demand and may foreclose this Mortgage by judicial proceeding. Linder shall
be entitled to collect in such proceeding all expenses of foreclosure. including. but not limited to. reasonable attorney's fees.
and costs of documentary evidence, abstracts and titk reports.
19. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have am~ proceedings begun by 1_ender to enforce- this Mortgage discontinued at any time
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