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Lender's written agreetaent a spplicabk law. Borrower shall pay the amount of all mortgage insurance premiums in the: 1
manner provided under paragraph 2 hereof. -
Any amounts disbursed by Lender purxrant to This paragraph 7, with interest thereon. shall become additional '
indebtedness of Borrgwcr secured by this Mortgage. Unless Borrower and !.ender agree to other temrs of payment. such
amounts shall be payable upon notice from Lender t4 Borrower requesting payment the-real, and shall bear interest trem the
date of disbursement at the rate payahk from time to lime on artstanding principal underyl~~/111p1d 1 t~ss pyment of
interest at such rate would be contrary to applicable law, in which event inch amounts shall Beal r ere:t~ at the highest rste
permiaibk under applicable law. Nothing rnntained in this paragraph 7 shall require I:errder to incur any experoe or take
any action hereunder.
R IpecNarr. Lender may make ar cause to be made reasonable entries upon and inspections o1 the Property. provided
that Lender shall give Borrower notice prior to any such inspection specifying rcawnabk cause therefor related to Lender's t
interest in the Property.
Co~iewrwaMow. The proceeds of any award or claim for damages, sired or oorrsegnentisl. in oorwrectiow with any
condemnation a other taking of the Property. a put thereof. a for oonveyanoe in lieu of oowdwnnatiow. are Ireeeby a:i<aed
and shall be paid to mender. - ~
in the event o[ a total taking of the Property, the proceeds shall be applied to the sums secured by this INortsage.
with the excess, if any. paid to Borrcwrer. In the event of a partial taking of the Property. unless Borro~wet and Larder
otherwise agree in writing, there :hall be applied to the sums secut+ed by this Mortgage such proportion of the proceeds
as is equal to that proportion which the amount of the Bunn secured by this Mortgage immediatdy prior to the date o[
taking bean to the tair marks value of the Property immediately prior to the date of taking, with the balance of the pr~ooecds
paid to Borrower. .
If the Property is abandoned by Borrower. or if. after notice by Lender to BorTOwsr that the condemnor oRers to note
an award or settle a claim for damages, Harrower fails to respond to Lender within 30 days after the date such notice is
mailed. Lender h authorized to collect and apply the proceeds. at Lender's option, either to restoration 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 date of the monthly installments referred to in paragraphs 1 and 2 Ireteot or change the amount of
such irataNments.
it. IMrrower Not Rekasetl. Extension of the-time for payment or modifkation of :trrortization 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's successors in interest. Lender shall not be required to commtrroe
proceedmgs against such strecessor or refine to extend time for payment or otherwise modify amortization of the s~~ms
secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
11. Forbearawce h' I.ewier Net a ~i+aiver. Any farlxarance by Lender in exercising any right or remedy hereunder. or f
otherwise afforded by applicable law. shall rant be a waiver of or preclude the exercise of any such right or rsrrredy.
The procurement of irauraner(~r the payment of taxes or other liens or charges by Lender shall not be a waiver of Larders x
right to accelerate the matunty of the indebtedness secured bry? this Mortgage.
12. Rtrwedks CwwwhNrre. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortgage a aRorded by law or equity, and may be exercised concurrently. independently or srreoessively.
' 13. Sweeeasora rswi Ast*ws liowwi:.ieiwt awi Setreral i.iabiBty: Captieas. 77re covenants and agreements herein
.contained shall bind. and the rights hereunder shall inttrc to, the respective successors and assigns of Lender and Borrower. ~
subject to the provisions of parsgnph 17 hereof. All covenants and agreements of Borrower shall be joiry and several.
The captara and headings of the paragraphs of this Mortgage arc for convenience only and are not to be raed to ~
interpret or define the provisans hereof. i
11. Notke. Except for any notice required under applicable law to be given in another manner. fa) arty rrotiee b t
Borrower provided for in this Mortgage shall be given by mailing such notice by cerifkd mail addressed to Borrower at
the- Property Address or at such dhcr address as Borrower may designate by notice to fsrrtkr as provided herein. sod
(b) any notice to Lender shalt Ix given by certified mail. return receipt requested. to t.ender`s address stated herein or to
such other address as Lender may 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. UwYorwr MortrtaRe: Goverw~ Tsar: Sev:rabBity. This form of mortgage combines uniform covenants for natural
j use and rron-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument ooverirrg
real property. 7?ris Mortgage shall h governed by the law of the jurisdiction in which the Property is located. In the
event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not alfeet
other provisions of this Mortgage err the Nate 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.
lf. lionewers Cop. Borrower shall be turnished a conformed copy of the Note amd of this Mortgage at the time i
of execution or after recordation hereof.
. 17. Tawster of ere Tro~erty: Aaswmpiow. If all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior wrinrn consent. excluding la) the creation of a lien or encumbrance wbordinate to
this Mortgage, (b) the crcatrarr of a purchase money security interest far household appliances, (c) a transfer hp devise.
descent or by operation of law upon the Death of a joint tenant or (d) the grant of any leasehold interest of three yeah 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, prat to the sale or transfer. Lender
and the person to whom the Property is t~~ be co1D ar transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the intere.t Fayabk on the sums secured by this Mortgage shall be at such rate ac Lends
shall request. If Lender has waived the opion to accelerate provided in this paragraph 17, and if Borrower's successor in
interest has executed a written aaumprion 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. Lender shall mail Borrower notice of acceleration in sccordanc~ with
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within i
which Borrower may pay the wms uxlared due. If Borower tails to pay such sums prior to the expiration of such period.
Lender may, without further notice ar• demand on borrower. invoke any remedies permitted by paragraph 1 R hereof.
i
NON-I.INIFORM COVENANTS. BOffower and Lender further COVenant and agree as follows:
lt. Aecekratio~; Remedies. E:ee}t as prorNei iw pragra*r 1'f tercel. Ron )ssrrrrwera M~eaelr o_f arty coverraN err
agreewrewt of iorrower i• tr4 MatgaRe, iaetraiwg ere covewaMs to py wtew drre awy ssras sccwrei ry ttk Morgage. iawder
prior N accekrstfow sraN mail wotke to Bonorrer as'rovNN iw pragrapt t1 tertot speeNyiwg: (/)rte breast:121 rte scftow
b sae seer rreaer; (3) a Late. not less ttaw 30 days from ere date rte wotlce M mailed a lerrower. h wtielr strclr
raeact ma re eared: awl (1) drat failrra to care stet breach ow or relore ere dale speeMel M rte wake may resyrlf i.
aceekrMiew of ere srrrrrs aecaed ry tris Mortgage. toretloswre b ~u N'o<~ML awi sale e< ere Troperty. 71re wetiee. }
sraN brtter iwform Iorrower of rte right to reiwsfate alter secekratlow awi ere rlgrt to assert in ere loeselaswre peeeee~ttg
ere cent-existence d a ietaak or nay firer >eferrse of forrower M aeeskrNioo srra torcclostrre. H the breast is wet ewes err
or before rte date geeifiiel i. rte wotiee. Lewder al I.esraer's o/tiaw may deehre :r at ttt swras seeaerf r3' fris Mortgage fo k
imaediately sae srrd pyabk arittorrt lartlrer demand awd may teteclose eels Mor~age h' jirraicl.l'neeeNwrt. i.ender-staN
tk ewfBled to ceBeet iw swcr preceding aA a:peaces of forcclosare. iwclwliwg. bws wM Ywrited te. reasowsMe att.xeer's fees.
swi costs o/ doewrweMar3' edaewce. abstracts and title reports. ~
11. )ierrowers Rlgrt le ReMstate. Nawithstanding Lenders acceleration of the sums secured by this Morgaae.
Borrower shall have the right to have any procecd~ngs betyin by Lender to enforce this Mortgage discontinued err any time
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