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Lender's written agteetnent a applicable law. Borrower shall pay the amount of all mortgage insurattoe premiums in the ,
manner provided under paragraph 2 hereof.s,
Any atnourtts disbursed by Lender pursuant io this paragraph 7, wish interest thereon, shall become additional ~ 1
indebtedness of Borrower secured by this Mortgage. Unless Borrower and I_enJer ague to, other terms of payment. such
amounts shall be payable upon notice from i.ender to Borrower requesting payment thereof, and shall bear interest hart the i
date of disbursement at the rate payable from time to time on attstanding principal under the Note unless pajrrnatt of ;
interest at such rate would be contrary to applicable law, in which event such amcwnts shall bear interest at the highest rags -
permissible under applicable law. Nothing contained in this paragraph 7 shalt require Lender to incur any experae or fate
any action hereunder.
>s, lsspettios. i.ender 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 reasonable cause therefor related to I.errdsr's
interest in the Property.
9. Cosdea~satba. The proceeds of any award or claim for damages, direct or consequential. in connection 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 Properly, the proceeds shall be applied to the sums secured by this Mortgage,
with the excess, if any, paid 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 proceeds
as is equal to that proportion which the amarnt of the sums secured by this Mortgage immediately prior to the dated
taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds i
paid to Borrower.
if the property is abandoned by Borrower, or if. after notice by 1_ender to Borrower that the condemnor offers to matte
an award or settle a claim for damages. Borrower failx to respond to Lender within 30 days after the date such notice is s
mailed, Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or tcpair d the
Property or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree io writing. any such application of proceeds to principal shalt not extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount d
such instal{ments.
10. Eorrower Not Released. Extension of the time for payment or modification of amortization of the sutras 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 Borrowers successors in interest. Lender shall not be r+oquired to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortintion of the sums
secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successor in interest.
11: 1P'orbearasce by.Lewder Not a Waiver, Any forbearance by i.ender in exercising any right or remedy hereunder. or
otherwise afforded by applicable law. shall not be a waiver of or preclude the exercise of any such right or rerttedy.
The procurement of insurarw~e 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 Mortgages
l2. Resredies Ctusalad~e. All reredies 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 concrir~ently. independently or successively.
' 13. S~caYSSOrs and AsrriRas dotrnd: Joist and Several l.iab~r; Captions. The covenants and agreeerertts herein
contained shall bind, and the rights hereunder shall inrrrg to. the rapective successors and assigns of Lender and Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joiry and several.
The captions' and headings of the paragraphs of this Mortgage are for convenience only and are not to lie used to
interpret or define the provisions hereof.
11. 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 certifkd mail addressed to Borrower at
the Property Address or. at such other address as Borrower may designate by notice to under as provided herein. and
(b) any notice to Lender shall he given by certified mail, returirr receipt requested. to Lender's address stated ht:rein 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 fiave been given to Borrower or Lender when given in the manner designated herein. ~
1S. UsNorw MortfpiRe: Goversiag Law: $evenbility. This [orm of mortgage combines uniform covenants for national
i use and non-uniform covenants with -limited variations by jurisdiction to constitute a uniform security instrument covering
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 or cla?rse of Chic Mortgage or the Note conflicts with applicable law, such conflict shall not affect
'i other provisions of this Mortgage 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.
16. Sonower's Cott'. Borrower shall be furnished a conformed roP)• of the Note and of this Mortgage at the time
~ of execution or after recordation hereof.
17..Trasster of ere hoperir: Aswwrptiow. if all or any part of the Property or an interest therein is sold or tnnsferrod
by Borrower without Lender's prior western consent. excluding lest the creation of a lien or encumbrance wbordinate to
this Mortgage. (b) the creation of a purchase money security interat for household appliatrces, (c) a transfer by devise.
descent or by operation of law upon the death of a joint tenant or fd) the grant of any leasehold interest of threw 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 shoal have waived uech option to acxeknte i!, prior to the sale or transfer, Lender
and the person to whom the Property is to be cold or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that tht 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 Borrower's successor in ~
interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
oblijations under this Mortgage and the Note.
If Lender exercises such option to accelerate: Lender shall mail Borrower notice of acceleration in accordancti vrith
paragraph 14 hereof. Stich notice shall provide a period of raw less than 30 days from the date the notice is mailed within ~
~ which Borrower may pay the sums declared due. if Borrower fails to pay such sums prior to the sapiration of wch period,
~ Lender may. without further notice or demand on Borrower. invoke any remedies permitted by paragraph 1R hereof.
Mort-UNttrottnt COYBNAtr7S. Borrower and Lender further covenant and agree as follows:
f 1R AeeeseraUotK Rewedies. Etuept as provHed ire MragratM 17 ber+eul'. ~s fflotsrwda Meech of rasp enenartt ar
agreerseat eft Mrawtr t• this Mastgage. i ere coresasts eo pay wbes dire asp sarss seaas+sd b /tits MorlRagt• iesdet t
trier to accderatios dia11 want notice to lsorro.?er w provided is psragnyM 14 tercet geelfrlaF (1) ere Maer: f~ the setietr
rgtdtrei is em teach M'saek t3) a dale. sat Ids tlwr 30 daps hors the sale the notate Y traafkd M 1•oROwer. b wrier seer
E Meath wart k caredr and (1) that taNtrre ro erne tmer Meaclr ew K before the date stttlfisd M the settee star rrsttlt r s
~ aeederatlstr oft tree s..s aettrred y leis MorigaBc. floreelossre Ire isdkW proessdlet and sale st ere >rr~opertr. "Iwe.rr.tiee
dealt thrrtrer 6Jotrs Mra~wetr et fire rlgrt w r+ehMate after ateeleratios and the tight is aatrtrt Y ere tarrleloarre ptoeaedla~
~ the aow.atWesee of a detaslt ar asr otter defense of Borrower to ~dcelare ar a< eretre stpssscetrrsd tr 1Mr rMaltalpe fr to
or before ere dale speefier i• ere sotfte. Leader d l.esder's option way
i¦rerediately dire and papabk wilrotM tsctrer demand and way toreclost eels Merlgags r!' ltrdkW trr,e+sediaR. Lender droll
rc eaNlled a toltett V sseh proa~ttdirig of t:pensa of foreclo:we. fscbiisp. bsf asst Miles M. nasssarie sttwuey's fees. _
s and coals of itre."wartarp efidesta, distracts ass title repoAa.
1 i!. ljarsrrwes'~ ~t b Rsiadtalt. NMwithstanding Lender's atxekration d the sums secured by the: Mortgage.
Borrower shall have the right to have any proceedings begun hY Lender to enforce this Mortpge discontinued at any tiros
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