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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 thereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment. such
amounts shall he payable upon notice from Lender to Borrower requesting paymrnt 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`ymertt 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.
>Z. Iwspectiow. Lender may make or cause to he 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. Cowdemnatiow. 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, arc hereby assigrxd
and shall be paid to Lender.
In the event of a totrl taking of the Properly, the prcxecds shall he appliai to the sums.setrtried'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 bt applied to the sums secured by this Mortgage such proportion of the proceods
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 valor of the Property immediately prior Io the date of taking. with the balance of the proceeds
paid to Borrower.
If the Property is abandoned by Bor:ower. or if after nrnice by Lender to Borrower That the condemnor often to make
an award or settle a claim for damages. Borrower fail. to respond to 1_ender within 30 days after the date such notice is
mailed, Lender is authorized to collect and apply the proceeds. at Lenders 'option, either to restoration or repair of the
Property or to the sum. secured by this Mortgage.
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.
10. 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 successor 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 reface to extend time for payment or otherwise modify arnortiZaoon 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 [.ender 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 or other liens or charges by [.ender shall not be a waiver of Lender's ,
right to accelerate the maturity of the indebtedness secured by this Mortgage.
l2. Remedies Cnmulati~e. 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. Sreeessorrs and AssiRws Bound:.7oint and Several T.iaM'lity; Captions. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inrrr~ 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 joiry 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.
14. Notice. Except for any notice required under applicable law to be given in another manner, fa) 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 Harrower may designate by notice to Tender as provided herein, and
(b) any notice to Lender shall lx given by certified mail, return receipt requested. to [.enders address stated herein or to
such other address as Lender may designate by notice to Bormwer as provided herein. Any notice provided for in this
Mortgage shall he deemed to have been given to Borrower or Lender when given in the manner designated herein.
15. L'nifo:s:: MortR~c: Gavrrnin£ Lasx; ~Ye:sbllity. This fcrrr. of mortgage cc:abints us:ifa::r: co:•ts:azts far nations!
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. Tn 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 etTect without the rnnflieting provision, and to this
end the provisions of the Mortgage and the 'Mote are declared to be severable.
~ 16. borrower's Copy. Borrower shalt be furnished a conformed copl- 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 writrcn consent. excluding (al the creation of a lien or encumbrance subordinate to
~ this Mortgage, (b) 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 (dl 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
j 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 so1J 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 Borrower's successor in
interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
a 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 notice is mailed within
~ which Borrower may pay the sums doctored due. If Borrower fails to pay such sums prior to the expiration of such period,
I Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 18 hereof.
NoN-UNIFORM CoveNerr7s. Borrower and Lender further covenant and agree as follows:
s
ls. Acceleratiow; Retwedks. Excep s provfded is parragraph 17 hereof, rpow borrower's brrcaclt oft awy co~etnawt or
agrcetrnewt of borrower fn trk Mortgage. iwclyding the corenaMs to pay whew are awy sow secrred by eels Mortgage. Lewder
F prior to sttekratbw sbaU wW wotke to borrower ss Provided In paragraph 11 hereof s'ecftyiag: (t) the breach: (2/ the attbw
€ trcgdrsd to crnre serer brrcaer; (3) a date. woe less than 30 days frorw the date the wotke is wtailed to borrower. by whk6 seer
brrescr •rst be erred: acrd (4) test tailare to sere srch breach on or before the date specified h the wotke may carte b
aeeekratiow of ere srtrrs ttectued by this.Mort~e. toreclosrre by jrdlcW'roeeedia; acrd sale of the hoperry. The wotke
shall firrtrcr iwforw borrower of tee right to reiwstate after sccekratbw and ere right to asrert iw tic toreelosrre rroceedlwg
ere tww-existewce of` a defark or awy otter ddcwse of borrower to accckrwtbw swd forecbwrte. It the breacr b woe erred ow
or before the daft specified iw ere wotke. Lewder at Lender's opiow wy declse u oft the srss seemed by tW Mort~e to be
iartediately die awl paysbk witbort frrther demand and may foreclose thft Mort=agt by jrrdkW Pnoeeediwtt. [.ender shall
be ewtWed to co0ect iw serer ProeeediK all a:pcases of foreclosrre, irclydiwi. bet woe iftwitd to, reasowabk stt.,rnev's fees.
awd costs of doc~!wewtary evidewce, abstrwcb awd titk• reports.
f 19. botnrowq's Rlgrt to Relwstate. Notwithstanding lenders acceleration of the sums secured by this Mortgage,
3 Borrower shall have the right to have any proceedings txgun by 1_ender to enforce this Mortgage discontinued at any time
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