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Lender's written agreement or applicable law. Bortower shall pay the amount of all mortgage insurance premiuttu in the
manner piuvided under paragraph 2 hereaof.
Any amounts dichtrrsed 6y t.ender pursuant to this paragraph 7, with interest thereon, shall become additional
indrhtedness of Borrower secured by this Mortgage. Unless Borrawcr and !.ender agree to other Terms of payment. such
amcutnts shall he payable upon notK-e from Lender to Borrower reyttecting payment thercoL and shall bear interest from the
date of disbursement at the rate payable from liens to time on outstanding principal under the Note unless paymtxtt of
interest at such rate would he contrary to applicable lave, in which event such amounts shall hear interest at the highest rate
pcrmiuibk under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
any action hereunder.
fl. luspectiow. Lender may make or cause to I,e made reaconahle entries upon and inspections of the Property. provided
that 1-ender shall give ~or~ower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property. •
9, Condemnation. The prixeedc 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 tender.
In the event of a total 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 he applied to the sums sec?rred 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 hears 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 condemnor ogees to make
an award or settle a claim for damages. Borrower fails to respt,nd to Lender within 30 days after the date such notice b
mailed. Lender is authorized to collect and apply the proceeds. at i.ender'c option, either to restoration or repair o[ the
Property or to the sums secured by this Mortgage.
Unless (.ender and Borrower otherwise agree in v: ritrnc. any such application of proceeds to principal shat) 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.
10. Borrower Not Released. Extension of the time for payment or modification of amortization of the surtts secured
by this Mortgage granted by lender to anr• cuccecsor in interest of Borrower shall not operate to release. in any 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 reface 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 br Lender Not a Waiver. Any forbearance M• Lender in exercising any right or remedy hereunder, or
otherwise afforded by applicable law. shall not t,e 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 Camulatire. All remedies provided in this Mortgage are 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. Soccessors and Assigns Bound; Joint and Several I.iaMBry; Captbns. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender acrd Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be join/ and several.
The captions- and headings of the paragraphs of Chic Mortgage are for convenience only and are not to be used to
interpret or define the provisions hereof.
l4. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
Borrower provided for in this Mortgage shall be given by mailing such notice by certifted mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to fender as provided herein, and -
(b) any notice to Lender shall he given by certified mail. return receipt requested. to [.enders 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 has•e been given to Borrower or Lender when given in the manner designated herein.
1S. Uniform Mortgage; Governing Law; Severability. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations h}• 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 e0ect without the conflicting provision, and to this
end the provisions of the Mortgage and the 'Vote arc eeclared to be severable.
16, eorrowtr'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..Trattlsfer of the Property; Assumption. if alt or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior writrcn consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage, (bl the creation 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 al! the sums secured by this Mortgage to be
immediately due and payable. Lender shall have v+aived such option to accelerate if, prior to the sale or transfer. Lender
and the person to whom the Property is 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 retch rate ac Lender
shall request. If i_ender 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 accelerate, Lender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such naict 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 (ails to pay such sums prior to the expiation of such period,
Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph Ifl hereof.
NoN-I.INIFOnM CovENANTS. Borrower and Lender further covenant and agree as follows:
li, Acetleratios; Retstedla. IEttcep as provided is Paratraplt 17 heecoi, tiPow )fortrowee's 6rcach of aver covetsawt or
agreetttKSt of Itlorrower io thb Mortgage, iwcludiwg the eorewawts to pay wGew doe sex vents aretrreti by their Mortgait. Leaner
prior to acceknatbo shag wait seeks to Iorrower as prodded In paragraph 14 hereof specNy~: p) the btttach: (2) the scyiow
trogte4ei b stirs Stich breach; (3) • date. wet less thsa 30 days iron the date the notice Itt mailed to lbrrower. by vehicle sweh
breach Sant be etir~ed; vend (4) that blears to cure stich brcsch os or before the date s*eci6ed i• the wotice say rttsrit f•
aecderatfat of the arms ttectrrcd br fhb Mortgage. toreelostire br judkw proceednwg and Hale of the Propcrry. The wotice
shag ftirtYer iwtors eorrowcr of the right to refestste after accekratbs and the right to attsert iw the toreciostire'roeeeig
tie +wtr-s:Wewce of a de[arN or awy other deitase of Qorrowtr to accekntiow atad forccbarre. It the beach is toot creel ow
or before the dste srecifieA is the ttwtke. Lewder at Lender's optics say declare aM of the slims ttenrred br fhb Mortgage N 6e
immediately doe need Payable witbotit irrther demand and mar foreclose thY Mortgage by jtidieW Ptroeee~wR. Lender shag
be eNttYd to collect b srcb Ptncecditrg all a:peaces of torcclosere, iwcludiwg, hod wet limitd to, rcasowable slturneY's fees.
need costs of doersewtary etrjdetuce. abstracts and Iitk reports.
19. l3orrowa's (Right to RehstMe. Notwithstanding lenders acceleration of the sums secutYd by the Mortgage,
Borrower shall have the right to have any proceedings begun by !.ender to enforce this Mortgage discontinued at any tittx
a~,or,
'~R332 ~~G~ 219
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