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Lender's written agr~~+:mcnt or ~ppticahle law. Borrower shall pay the amount of all mortgage insurance premiums in the
manner provided under paragraph 2 hereof.
An)• amoumc disbursed by Lcndcr pursuant to this paragraph 7, with ittterect thereon, shall tx-come additional
in+leMedmss of Borrower s+-cured by this Mortgage. l.'nless Born?wrr an+l I ender ague to other terms of payment, such
amounts .hall t?c pa)•ahlc ulx•n nt?ticc front 1 rndcr a? &?rn?wer reyursling pa)•menl thcrcti?f. and shall hear intered from the
.late of dishuru:mcnt at the sate pa)•ahk from time to time un outstanding principal under ~ c Not~c~ t~lesc payment of
interest at such rate would be contrary to applicable law. in which event such amounts shall hoa~ i~1~t1~~1 Jae highest rate
permissible under applicable la+~•. Nothing contained in this paragraph 7 shall require Lcndcr to incur any expense or take ~
any action hereunder.
~ 8. Inspection. Lender may make or cause to be made reasonable entries upon and incpectionc of the Property, provided
that Lender shall give Borrower notice prior to any such inspection sp+~cifying reasonable sauce therefor related to Lender's
~ntcred in the Property.
9. Condemnation. The proceeds of any award or claim for damages, direct or rnncequential, in connection with any
condemnation or other taking of the Property, or part therrnf, or for conveyance in lieu of condemnation, arc hereby assigned j
and shall be paid to l.endcr.
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 Aorrower. In the event of a partial taking of the Property, unless Borrower and 1_ender
otherwise ague in writing. then shall he applied to the sums secured h)• 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 Bormwcr.
if the Property is abandoned b)• Borrower. or if. after notice M• Lcndcr to Bormwcr that the condemnor offers to make
an award or settle a claim for damages, Bormwcr fail. to reslx~nd to Lender within z0 Jays after the date such notice is
mailed. [_ender is authorized to rnllect and apply tlx: proceeds, at Lcnder'c option. either to restoration or repair of the
Propertp or to the sums secured by Ibis Mortgage.
Unlcsc I_entter and Borrower otheriwise agree in writing. am' such applir.?tion of proceeds to principal shall not extend t
or postpone the due Jate of the monthh• installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Bormwcr Not Released. 1F.xtension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted M Lender to am successor in interest of Borrower shall not operate to release. in any manner.
the liability of the original Borrower and Borrower c succcscorc in interest. lender shall not I?e rcyuircd to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
secured M• this Mortgage M• mason of any demand made by the original Borrower and Burrow•cr s successors in interest.
11. Forbearance by Lender \ot a Waiver. Any fort?earancc by Lender in exercising any right or remed)• hereunder. or
othcrv?•ise 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 Lender shall not he a waiver of Lender's
right to accelerate the maturity of the indehtednrsc secured M• this Afortgage. J
12. Remedies Cnmulalive. All remedies pn?s•ided in Chic '?fortgage are distinct and cumulative to ans• other right or j
remedy under this Mortgage or afforded h)• law or eyuin•. anJ may he exercised concurrently. independenth• or surcescivrly. i{
13. Successors and Assigns Bound: ]oint and Se+eral Liabilih•: Captions. The covenants and agrrenunts herein
rnntained shall hind, and the rights hereunder shall inure to. the respective successors and assigns of 1_en~kr :u?d Borrower.
iubject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall he joint :ind several.
The captions and headings of the paragraphs of this 1liortgage are for convenience only and arc not to he aced to
interpret or define the provisions hereof. i
~ 14. \otice. Except for any notice required under applicable law• t.? be given in another manner. (a) :rny notice to
Burrower provided for in Ihic ~fortgagc shall t?e given by mailing such notice by certified mail addressed to Borrower at
the Properly Address or at such other address as Borrower may_ designate M• notice a? Lender as provided herein. and
Ibl any notice to Lcndcr chill tx: given by certified mail. return receipt rcyucsted. to I ender s address stated herein or to
such other address as Lcndcr may designate by notice to Born+wer as provided herein. :1ny notice provide) for in this ;
~lortgagc shall F?e deemed to have txen given to Borrower ar Lrnder when given in the manner designated herein.
15. Uniform l~torif;aRe; Governinf: taw: Severabilih. Thi. form of mortgage combines uniform rnvenants fur national -
ase and numunifurm covenants with limited variation by jurisdiction to constitute a uniform security instrument covering
real property. This Mortgage shall be governed M• the law of the juris.lictiun in which the Propem• i+ located. in the
event that any provision or clause of this Mortgage or the Note conflicts with applicable lav?•. such conflict shall not affect - f
other provisions of this Mortgage or the Notr which c:u? he given elfrct +vithuut the conflicting provision. and to this
end the provisions of the Atortgagc and the Notr arc declared a. hr severable. _ i
16, Borrower's Cop}•. Borrower shall f?r furni._heJ a conformed rnpy of the Note and of this I?tortgage at the time
of execution or after recordation hereof.
17. Transfer of the Propert}•; Assumption. If all ~~r any part of the Pn?pcrl)• or an interest therein is sold or trancferrcd
h)• Borrower without Lender ~ prior written consent. escluding ~a? the crea am of a lien or encumbrance sul?c?rdinate to
this Mortgage. (h) the creation of a purchase money security interest for household appliances. (ct a transfer by devise.
descent ur M• operation of law upon the death of joint tenant or td? 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 M• this Mortgage to be
immediateh• due and payable. [.rndcr shall have waived such option t.? accelerate if. prior to the sale or transfer. lender
and the persu•n to whom the Property is to f?e soul or transferred reach agreement in writing that the credit of such person
is saticfacton• to lender and that the interest pa)•ahle on the sums x~cured 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 M• 1_ender. 1_ender shall release Borrower from all
obligations under this Mortgage and the Note.
If Lender exercises such option to accelrrne_ Lcndcr shall maihBorrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a peri~xl of not less than 30 Jaye from the date the notice is mailed within
which Burrower may pay the sums declared due: If Borrower fails to pay such sums prior to the expiration of such period.
Lender may. without further notice or demand on Borrower. imokNam• remedies permitter'. by paragraph 18 hereof.
NoK-Utvtt=otu?t Covex~n~rs. Bormwcr and Lender further covenant and agree as follows:
18. Acceleration; Remedies. Except as provided in paragraph 17 hereof. upon Borrower's breach of any covenant or
agreement of Borrower in this Mortgage. including the covenants to pay when doe any sums secured by this Mortgage, Leader !
prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) !be action
required to care snob breach; (3) a date. not less than 30 days from the date the notice is mailed to Borrower, by whk6 such ,
breach must be cored; and (4) that failure to cure such breach on or before the date specified is the notke may resdt in ,
acceleration of the sums secured by this Mortgage, foreclosure by judicial proceeding and sale of the Property. The notice
shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceediug
the non-exigence of a defauk or any other defense of Borrower to acceleration and foreclosure. If the breach is not gored on
or before the date specified in the notice. Lender at Leader's option may declare aft of the sums secured by this Mortgage to be
immediately due and payable without further demand and may forecMse this Mortgage by judicial proceeding. Lender shall
be entitled to collect in such proceeding aq expenses of foreclosure. including, Met not Uo(ited to, reasonable attorney's tees,
and costs of documentary evidence, abstracts and tick reports.
19. Borrower's Right to Reinstate. Notwithstanding I_ender'c 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
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