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Lender's wrrttcn agrcemem or. apphcahle law. i;urrower shall pay the amount of all mortgage insurance premiums in the
manner pn+vrded under paragraph 2 hereof.
Any amounts disMnud by I-ender pursuant lu this paragraph 7, wuh interest thereon, shall became additional
indebtedness of Burn+wer secured by this Mungage. Unless 8urrawer and Lender agree to other terms of payment, such
amounts shall he payahlc upon notice fnim I ender to Borrower rcyucstinR payment thereof, and shall hear interest from the
date of disbursement at the rate payahlc fn?m time to lime on rnustanding 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
permissible under applicable law. Nothing contained in this paragraph 7 shaA require lender to incur any expense or take
any action hcreuttdcr,
8. lwspectiorr, J.ender may make ar cause to he made rcaconablc entries upon and inspections of the Property, provided
that [.ender shall give Borrower notice prig+r k+ any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
9. Coedemaatbn. The prtxcedc of any award or claim for damages, direct or consequential, in rnnrtection 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,
in the event~~itt l~l~t~>wng of the Property. the proceeds shall be applied to the sums secured by this Mortgage,
with the excess, if any, par 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 secured by this Mortgage such proportion of the proceed:
as is equal'to that proportion which the amount of the sums sectrred 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. ~+r if. after notice by Lender to Harrower that the condemnor offers to make
an award ar settle a claim far damages. Rorrawer fail. to respond to 1_ender within 30 days after the dale such notice is
mailed. Lender is authorized to collect and appl}• the proceeds. at lender's option, either to restoration or repair of the
Property ar to the sums secured by this Mortgage.
Unksc Lender and Harrower othervvice agree in writinc. any such application of proceeds to principal shall not sxtend
ar p~xtpone 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 cucceaor in interact of Harrower shall oat 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 refuse to extend time for payment or otherwise modify amortizatron of the srems
secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest.
1 i, Forbearance by i.ender Not s Wairer. Any forbearance ht+ Lender in exercising any right or remedy herctrnder, or
otherwise afforded by applicable law, shall tx+t be a waiver of or preclude the exercise of any such right ar remedy.
The procurement of insurance pr the payment of taxes ar other liens or charges by Lender shall not be a waiver of Lender':
right to accelerate the maturity of the indebtedness secured by this Mortgage.
l2, Remedies Cmm~latise. 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 he exercised concurrently, independently or successively.
13, Successors and Assigns Bound; .Joint and Several t.isbility; Captions. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to. the respective successor and assigns of Lender and Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be fairy and several.
The captions and headings of the paragraphs of this Mortgage are far convenience only and arc not to be used to
interpret or define the provisions hereof.
14. Notice. Except far any notice required under applicable law to be given in another manner, (a) any notice to
Harrower provided for in this Moriga¢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 mav_ designate by notice to Lender as provided herein, and
(b) any notice to Lender shall he given by certified mail. return receipt requested. to Lenders address stated herein or to
such other address as Lender may designate h}' notice to Sarrrnver as provided herein. Any notice provided for in this
Mortgage shall be deemed to have teen fiiven to &?rmwer or Lender when given in the manner designated herein.
1S. Uniform Mortgage; Governing Law; Severability. This form of mortgage combines uniform covenants for national
rrse and non-uniform covenants with limited variations h}• jurisdiction to constitute a uniform security instrument rnvering
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 ar clarrce of [hie Mortgage or the Nate conflicts with applicable law, such conflict shall not affect
other provisions of this Mortgage or the Nate which can be given effect without the conflicting provision, and to this
end the provisions of the Mortgage and the Nate arc declared to I+e severable.
16. Eomower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the tithe
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 pricer writrcn consent. excluding (a) the creation of a lien or encumbrance subordinate to
this Mortgage, (h) the creation of a purchase money security interest far household appliances, (e) a transfer by devise,
descent or by operation of law upon the death of a jrnnt tenant or (d? the grant of any leasehold interest of three years or less
not containing an option to p?rrchase, [.ender may. at [.ender ~ option. declare all the sums secured by this Mortgage to be
immediately due and payable. tender SFiall ha1'C N,llYfd such option to accelerate if. prior to the tale or transfer, Lender
and the person to wham the Property is to be salt or transferred reach agreement in writing that the credit of each person
is satisfactory to Lender and that the interest Fa}•able on the sums secured by this Mortgage shall be at such rate ac Lender
shall request. If Lender has waived the option to acctlerate provided in this paragraph 17, and if 8onower ~ successor in
interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower tram ell
obligations under this Mortgage and the Nate.
1f Lender exercises such option ro 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 r,:clared due. If Borrower fails to pay such sums prior to the expiration of such period.
Lender may, without further notice ar demand an Borrower, invoke any remedies permitted by paragraph 18 hereof.
Norr-!lNfFORM CovErveNTS. Borrower and Lender further covenant and agree as follows:
18. Accekratioa; Remedies. Except :s prorided is paragraph 17 benot, neon 1orrower's breach of any covenant a
rrtreemtat of Borrower ie this Mortgage. including the covenants to pay when due awy shirrs secured 6y tbfs Mortgage. [.ender
prior to accekratbn shall mail notice to Borrower as provided (a paragraph 14 hereof specNyiag: (1) tAe breach: !2) the aetbw
required to core snob breach;/3) a date, not less Than 30 days tram the date the notke b mailed to ffaorrower, by whkb such
breach must be cared; and (4) that failure to core loch breach on or hernia the date spteHied is the notke pray resole b?
accekntion of the soma secured by this Mortgage. foeclosure by judicial proctednag sod sale of the Property. The notice
shag funber inform Borrower of the right to reinstate otter sccekratba and the right b assert iw the lorttclosnre proeeedlrtg
the aon-existence of a detauk or any other de/ease of Isorrower to aecekrstion swd toreclostrre. tt the breach b tat cored oa
or before the date specified is the notice. Lender at lender's option orgy declare all of the soon second by fhb Mongste b be
irrrarediately due and payable without further demand and may foreclose thb Montage by jndkisl proceeding. (.ender shah
be estitkd to collect is snob proceedirrt afl expenses of foreclosure, fncludint, but rat !united to. reasoaabk att~rrneY's fees.
. gad costs of docnraeatary evidence. abstracts and title reports.
19. borrower's Right to Reira7ate. Notwithstanding I codex's accekratron of the sums secured by this Mortgage.
Borrower shall have the right to have any proceedine. tx~}in by Lender to enforce this Mortgage discortunued a+ any time
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