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I.ende~ s written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
manner provided under paragraph 2 hereof.
Any amounts dishttrsed 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 hear 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 taw,, in which event such amounts shall bear interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require lender to incur any expense or take
any action hereunder.
8. Inspection. lender 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 tender's
interest in the Property.
9. Condemnatbn. 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 tender.
in the event of a total taking of the Property. the proceeds shall be applied to the toms 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 some secured by this Mortgage such proportion of the proceeds
as is equal to that proportion which the amount of the sums secured h}• this Mortgage immediately prior to the date of
taking hears to the fair market value of the Propert}• immediate)}• prior to the date of taking, with the balance of the proceeds
paid to Borrower.
if the Property is abandoned h}• Borrower, or if. after notice h}• i_ender to Borrower that the condemnor offers to make
an award or settle a claim for damages. Borrower fails to respond to Lender within i0 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 Io 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 I and 2 hereof or change the amount of
such installments.
10. Borrower Not Rekased. Extension of the time for pa}•ment 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 orieinal Borrower and Borrower's successors in interest. lender shall not he required to commence
proceedings against such successor or reface to extend time fQr payment or-otherw•ise nipdify_~mQrtization of the sums
secured by this Mortgage by reason of an}• demand made hb• the i-nQmal )3orrower and Borrower's successors in interest.
11. Forbearance by Lender I\ot a Waiver. Am• fort+carance M• Lender in exercising am• right or remedy hereunder, or
otherwise afforded by applicable law, shall not he a waiver of or preclude the exercise of any such right or remedy.
Thy procutetn~nt D*insuranc~ or the payment of taxes or other liens or charges by Lender shall not he a waiver of Lender's
right to accelerate the thaturity of the indebtedness secured by this Mortgage. ~ ,
12. Remedies Cumulative. All remedies provided in this Mortgage arc distinct and eumi{-atiYe to any other right or
remed}• under this Mortgage or afforded M• law or equity. and may he exercised concurrently. independently or successively.
13. Successors and Assigns Bound; Joint and Sexeral i.iabilih•; Captions. The covenants and agreements herein
contained shat! 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 he joint and several.
The captions and headings of the paragraphs of this Mortgage are for rnnvenience only and are not to he aced to
interpret or define the provisions hereof.
14. Notice. Except for any notice required under applicable law tc• he given in another manner. (a) any notice to
Borrower provided for in this Mortgage shall he given by mailing such notice M• 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
(hl any notice to Lender shall he given by certified mail, return receipt requested. to Lenders address stated herein or to
such other address as Lender ma}• designate by notice to Borrower as provided herein. Any notice provided for in this
'-lorigage shall be deemed to have bee v~n to Bormw•cr or I.cnder when given in the manner designated herein.
i S. tJrjKorm Motfgage;~Governin~[.aw; Stverabilih•. This form of mortgage combines uniform covertanls for national use
and twtFUniform covenants with Ginifbd variations by jurisdiction to constitute a uniform security instrument covering real property. The
state and local laws applicable to this Mortgage shall be the Taws of the jurisdiction in which the Property is located. The foregoing
sentence shall not limit the applicability of federal law to this mortgage. In the event that any provision or clause of this Mortgage or the
Note conflicts with applicable law, such conflict shall not affect 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 are declared to be severable.
16. Borrower's Copy. Borrower shall he furnished a a.nformed rnpy of the Notc and of this 1lfortgage at the time
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 (at the creation of a lien or encumbrance suborJinate to
this Mortgage. (h) the creation of a purchase money security interest for household appliances. (c) a transfer h}• devise.
descent or by operation of law upon the Death of a joint tenant or (Jt the grant of any leasehold interest of three years or less
not rnntaining an option to purchase. Lender may. at Lender ~ option. declare all the sums secured by this Mortgage to be
immediately due and payable. Lender sfiall have waived such option te. accelerate if, prior to the sale or transfer, lender
and the person to whom the Property is to he sold or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interest pa}•ahle 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. 1_ender 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 accordance with
paragraph l4 hereof. Such notice shall provide a pericxl of not less than 30 days from the date the notice is mailed within
which Borrower may pay the sums declared due. If BorroHCr tails to pay such sums prior to the expiration of such period.
Lender may, without further notice or demand on Fic.rmwer. invole am' remedies permitted by paragraph I R hereof.
No;v-UtvtroaM COVPNA%TS. Borrower and fender further covenant and agree as follows:
18. Acceleration; Remedies. E:ceps as provided in paragraph 17 hereof, upon Borrower's breach of any corenant or
agreement of Borrower in this Mortgage. including the covenants to pay when dot 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) the action
required to cure such breach; (3) a date, not less than 30 days from the date the notice is mailed to Borrower, by which such
breach must bt cured; and (4) that failure to cure such breach on or before the date specified in the notice 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 proceeding
the non-existence of a defauk or any other defense of Borrower to acceleration and foreclosure. if the breach is not cured on
or before the date specified in the notice, Lender at Lender's option may declare all of the sums secured by this Mortgage to bt
immediately due and payable without further demand and ma}• foreclose this Afortgage by judicial proceeding. Lender shall
be entitled to collect in such proceeding all expenses of foreclosure, including. but not limited to, reasonable attorney's fees,
and costs of documentary evidence, abstracts and title reports.
19. Borrower's Right fo Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have an} proceedings begun h}• Lender tc. enforce this Mortgage discontinued at an}• time
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