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Lmder's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premium: 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 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
permissibk under applicable law. Nothing contained in this paragraph 7 shall requiro Lender Io incur any expense or take
any action hereunder.
8. inspection. fender 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 raasonabk cause therefor related to Lender's
interest in the Property. ,
9. Condemnatbn. The proceeds of any award or claim for damages, direct or consequential, in rnnnection 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 of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage,
with the eregg~ss~. if any, paid to Borrower. in the event of ~ partial taking of the Property, unless Borrower and Lender
otherwise aglEe 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 uctrred 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.
1f the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor offers 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. Lender 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. ,
Unless 1_ender 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 c successors in interest. Lender 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 Borrower's successors in interest.
11. Forbearance by Lender Not a Wsiver. Any forbearance by Lender in exercising any right or remedy hereunder. or
otherwise afiorded 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 Lender 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 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. Successors and Assigns Bound; Joint and Se~~eral I.iabUify; 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,
s~ibject 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' are for convenience only and arc 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, (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
(h) any notice ro Lender shall be given by certified maii. return receipt requested. to Lenders address stated herein or to
such other address as i_ender map 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 Lender when given in the manner designated herein.
1S. Uniform MortRa~e; Governing Law: Severabilit}•. This form of mortgage combines uniform covenants for national '
j use and nonuniform rnvenants with limited variations hp jurisdiction to constitute a uniform security instrument covering
~ real propert}•. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
I event that any provision or clause ~f this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
other provisions of this Mortgage or the Note which can I?e given effect without the conflicting provision, and to this
end the provisions of the Mortgage and the emote are ikclared to be severable.
16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the tithe
I of execution or after recordation hereof.
~ 17. Transfer of the Property: Assumption. if all or an}• part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent. excluding fa? 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 (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 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 to be sold or transferred reach agreement in writing that the credit of such person
is satisfactory to fender 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 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, tender 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 declared due. If Borrower faits to pay such sums prior to the expiration of such period,
Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
~ NON-UNIFORtit CO~'EYANTS. Borrower and Lender further covenant and agree as follows:
Ig. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of say covenant or
agreement of Borrower in this 4lortgsge. including the covenants to psy when due shy sums secured by ebb Mortgage, Leader
prior to sccelerstion shall mail notice to Borrower as provided in paragraph 14 hereof specByiug: (1) the breach; (2) the action
required to cure such breach; (3) s date. not less than 30 days from the date the notke b aisBed to Borrower, by which such
breach must be cured; snd (4) that failure to cure snch breach oa or 6cfore the date specified is the oodee may result br
acceleration of the sums secured by this Mortgage, foreclosure by judkial proceeding and sak of the Property. The notice
shall further inform Borrower of the right to reinstate after sccekrstion gad the right to assert in the foreclosure proceedbtg
the non-existence of a defauN or gay other defense of Borrower to accekrstioo and foreclosure. It the breach b got cured a
or before the date specified in the notice, Lender at Lender's option rosy declare all of the sums secured by fhb Mortgage to be
immedbtely due and payabk without further demand and may foreclose ebb Mortgage by judicial proceeding. Leader shall
bt entitled to collect in such proceeding al! expeasls of foreclosure, including, but not limited to, rearioaabk attorne>'s fees,
snd costs of documentary evidence, abstracts sad title reports.
19. Borrower's Right to Reiortate. Notwithstanding Lenders acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
Addeadtrat+ to Paralrapfir 15. The state and local laws applkable to this mortgage shall be the laws of the jurisdiction in
~ whkh the property is located. The foreQoinq sentence shall not limit the applkability r?/ federal law to this mortgage.
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