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l.endcr's written agrtetntnt or applicable law, Borrowersh>1!1•
,ply the ~amoyn~Q~ all mortgage insurance premiums in the
' manna' provided under paragraph 2 hereof. „r j,.r 1,~+
Any amotrnts•dishtrrscd by i,ender pursuant to this paragraph 7, with interest thereon, shall become additional
indebtedness of Ilarrowcr secured by This Mortgage. Unles Borrower std Lender agree to other terms at payment, such
amounts shall rte payable uj,on notice from Lender to Borrower regttosting payment therrnf, and shall bear interest from the
date of disbursement at Ilea rate payable from tune to time on outstanding principal under the Nate unless payment of
interest at such rate would be contrary M applicable law, in which event such amounts shall hear interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shill require I:ender to incur any expense or take i
any action hereunder. i
a• lwspectigp~ ~.lnder.may make or cause to be made reasonable entries upon and inspections of the Property. provided ~
that Lender shall give I~orrdwet' notice prior to any such inspection specifying reasonable cause therefor related to Lender's E
interest in the Property. ~
9. Cowdewtwatbw, The proceeds of any award or claim for damages, direct of consequential. in owtrrectiow with any
condemnation or other taking of the Property. or part thereof, a for conveyance in lieu of condemnation. are herdry assigned
and shall be paid to Lender,
In the evert of a total taking of the Property, the proceeds shall ba applied to the sums secured by this Irtortgage.
with the exoas, if any, paid to Borrower. In the event of a partial taking of the Property. unless Borrower and Lender
otherwise agree in writing. them; shall be applied to the sums ensured by this Mortgage such proportion of the proceeds
as is equal to that proportion which the amatnt of the Bunn secured by this Mortgage immediately prior to the data of
taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance o[ the proceeds
paid to 8orrovrer.
If the Ar.Qerty is abandoned by Borrower, or if. after notice by i.ender to Borrcrnrer that the condemnor otters to make
an award or settle a claim for damages, Bt?rmwer fails to respond to Lender within 30 days after the date such notice is
mailed. Lender is authorized to collect and apply the proceeds, at lender's option, either to ratoration or repair of the
Properly or to the sums 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 dale of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
such installments.
ill. Borrower Not Released. Extension of the time for payment or modification of amortizafron of the wins secured
by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner.
the lability of the original Borrower and Borrower's strccessars in interest. Lender shall not be required to commence
proceedings against such successor or refuse to extend time for payment or otherwist modify amortizaiiar of the sums
secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's wccesson in interest.
~ 11. RorDearsrrce by II.ewder Not a Wttiver. Any forbearance by fender in exercising any right or remedy hereunder, or
otherwise afforded by applicable law, shall not be a waiver of or preclttde the exercise of any such right or remedy.
The procnrcment of insunrrce;~r tltc payment of taxes or ssthrr liens nr charges by Lender shall not bt a waiver of Lender's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
1L Remedks Cwmrlathe. All remedies provided in this Mortgage arc 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. Swceeasors awd AsidRas Sorwd: ,JoMt awl Sexed ILbilily; CapMows. The covenants and agreements herein
contained shall bind, 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 joirtj and several.
71te captions and headings of the paragraphs of this Mortgage are for convenience only and ar+e not to be used to
interpret or define the provisions hereof.
14. Notice Except for any notice requirsd 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 certified mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein. and
(b) any notice to Lender shall he given by certified mail. return receipt requested, to I.endtr
s address stated herein or to
such other address as Lender' may .designate by nt+tice 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.
lS. Uwiforwr Mortgage; Corerwiwg Lary; Seversbility. 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. This Mortgage shall h governed by the law of the jurisdiction in which the Property is Located. In the
event that any provision or crease of this Mortgage or the Note conflicts with applicable law. such conflict shaft not affect
other provisions of this Mongagt or the Note which can be given effect without the conflicting provision, and to this
end the provisions of the Mortgage .and the Note arc declared to be severable.
iti. Son~ower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the tune
of execution or after recordation hereof.
l7. Trawsfer of the Tro'erq; Asswmptiow. If aft or any part of the Property or an interest therein is sold or transfernd
by Borrower without Lender's prior written consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the crcatton of a purchase money security interest for household appliances, (c) a transfer by devise.
descent or by operation of taw upon the death of a jc?int tenant or (dt the grant of any leasehold interest of three ycan or less
not containing an option to purchase, Lender may. at tender 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 sale or transfer, Lender
and the person to whom the Property is tc~ be sc,IJ or transferred roach agreement in wn3ing that the credit of such person
is satisfactory to Lender and that the interest ~ayabk on the sums secured by this Mortgage shall be at such rate ac 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 stl
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 mice shall provide a period of not less than 30 days from the date the mice is mailed within
which Borrower may pay the sums oxlared due. if Borrower fails to pay such stems prior to the expiration of such period,
Lender may, without further notice or demand on Borrower. invoke any remodia permitted by paragraph 1 ft hereof. -
Nav-l1tvIFORAI COVENANTS. Borrower and I~nder further covenant and agree as follows:
ig. Accdcratiow; Rewxdia. L?xcept m provided iw pntgraph 17 herttot. wpw ionower's iteeaci of awy eorewawt K
agreemnwt of Borrower iw His Mortgage, 3wclwdiaR the corewawts to py whew awe ay swws secwred by file Mortgage. Lewder
prior to sceNeratbw shah mail wotke to Sorrowsr as prorl~d Iw pragrapi 14 bereo[ specifyiwg: (1) flee ttieraeh; 12) tfie attbw
regtrirei to cwre such 6reaclr; (3) a date. wet less flaw 3A days from tie date the wotkt N twaiied to Sorrows. by whicA swti
iseaci •d 1k ewrcd; sad (4) that failrtre to cwre swei breach ow or before tic date speciieti M the woltce gray restdt iw
aeeeleratiow of the swan arcwred 6y this Mortgage. ter~cctosrtr~e b jwdicW proceediwg awl sale et the ?roperty. 7be wotlee.
_ shwH fwrther iwtorrw Sonower of dte riRM to rriwstafe after seeekrstiow awd the right to exert iw the forecioswre Noeeeabr~
tie wow-existewce d a ddaaN or awy other Aefcnse of Borrower to acceleratkw awd forecioswre. H the breach is wet cttrsd ow
or before the dice geell'icd b ttrc wotice. Lcwdrr at I.ewder's optbw rway declare ar at the ores seewred h' this Mortgage N Ire
immediatdy dwe trwd pysbk witbowt ttutyer demand sad may tortrebse tb4 Mortgage i7' jwdkiai praeeedirrg. Lender-shap
bt ewtiged to collect `swei pnuetediaR all axpewses i,f foreckswre. Enclwdiwg. 6wt wet 1ltwjtd to. reswwable attorney's fees.
sad casts of deorrtrtetrhry evidewee, abstracts swd tick reports. .
11. S~o~rt~ower's Rkit to Reiwstate. Notwithstanding tender's acceleration o? the sums secured by th,s Mortgage.
Borrower shall have the right to have any proceed~ngc he~,n by Lender to enforce this Mortgage discontinued ar any time
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