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l.+:nJer's w•:itten agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
manner provide) under paragraph 2 hereof.
An}• amounts dish-+rsed by Lender pur++tant to this paragraph 7, with interest thereon, shall become additional
indeMednesc of Borrower secured h}• ehic Mortgage. Unless Borrower and l.enJer agree to other terms of. payment, such
amounts shall he payahle upon notice from Lender to Borrower reyuecting payment thereof, and shall hear interest from the
date of disbursement at the rate payahle from time to time on o-+Istanding principal under the Note unless payment of
interest at such rate wool) be contrary to applicable law, in wfiich event such amounts shall bear interest at the highest rate
permissible under applicable law. Nothing contained in ehic paragraph 7 shall require I"ender to incur any expense or take
any action hereunder.
11. Inspection. lender may make or cause to he made reasonable entries upon and inspections of the Property, provided
that Lender shall gis•.~ Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Pmpert}•.
9. Condemnation. The pr.xeeds of an}• award or claim for damages, Direct or consequential, in connection with any
rundemnation or other taking of the Property. ur part thereof, or for rnnveyance in lieu of condemnation, are hereby assigned
and shall tk paid to Lcndcr.
In the event of a total taking of the Propert}•, the proceeds shall he applied to the sums secured by this Mortgage.
with the evrccs, if any. paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
l~1hCENIK agree in writing. there shall hC applied to the wms securcD by ehic Mortgage such proportion of the proceeds
ac is eyu:+I to that prolx.rtian 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 Properh~ immediate)}• prior to the Jate of taking, with the balance of the proceeds
pail to Borrower.
If the Propert}• is abandoned M• Borrower. or if. after notice by Lender to Borrower that the condemnor offers to make
.u- ;!ward or saute :- claim (or Damages. Harrower fails t+. respond t+• Lender within 30 days after the date such notice is
n-;!filed. 1_ender is a++thorized to collect and apply the proceeds. at Lender's option, either to restoration or repair of the
I'mprny ar to the sums soured M• this I-tortgage.
Unless Lender and Borrower otherwise agree in ssritinc. any such appliratian of proceeds to principal shall not extend
ur postpone the Due date of the monthl}• installments referred to in paragraphs 1 and 2 hereof or change the amount of
such ~nstallmentc.
10. Borrower Not Released. Frtencian of the time far payment or modification of amortization of the sums secured
h}~ this 1liorteaee granted by Lender t~• any successor in interest of Borrower shall not operate to release, in any manner,
the liability of ehe original Borrower and Borrower's successors in interest. Lender shall not he required to commence
pr~keedings against such successor or refuse ro e~tenJ time for payment or otherwise modify amortization of the sums
secure) by this Mortgage h}• reason of am• demand made by the orieinal Borrower and Borrowers suceessors in interest.
11. Forbearance by Lender \ot a Waiver. An}• forbearance by Lender in etercicing any right or remedy hereunder, or
otherwise atT+~rdeJ M• applicable law, shall oat he a waiver of or preclude the exercise of any such right or remedy.
Thr procurement of insurance or the payment of tapes or other liens or charges by Lender shall not he a waiver of Lender s
right en accelerate the maturity of the indehtedne+s 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 afiorded h}• law ur equity. ;+nJ may he exercise) concurrently. independently or successively.
13. Successors and Assigns Bound: Joint and Se.eral Liability; Captions. The covenants and agreements herein
;onta~ned shall hind, and the riehts hereunder shall inure ta. the respective successors and assigns of i_ender and Borrower,
subject to the provisions a( paragraph 17 hereof. All rnvenants and agreements of Borrower shall he faint and several.
The raptium and headings of the paragraphs of ehic Mortgage arc for convenience only and are not to he used to
~ntrrp«t or define the pros•iciam hereof-
14. \otice. Eticept far an}• notice required under applicable law to he given in another manner. (a} any notice to
Borrower pn•vided for in this Mortgage shall he g+vrn by mailing sorb noUCC by certified mail addressed to Bormw•er at
the Property Address or at such other address as Borrower mav_ designate bs• notice to Lender as provided herein, and
Ih- am notice to Lender shall be given by certfied mail. return receipt requested. to 1 ender s address stated herein or to
such other address as Lcndcr mac Designate by notice to Harrower as provide) herein. Any notice provided for in this
\turtgage sh.Jl he deemed to have been given to Harrower ur 1 coder when given in the manner designated herein.
15. t'niform ~1orlRaRe: C,overninR Law: Severabilih. This form of mortgage rnmhines uniform covenants for national
use and nun-unih~rm covenants with limite.l variations by ~uns-hrtion to constitute a uniform security instrument rnvering
real property "This Mangage shall t>L governed by the law of the jurisdiction in which the Property is located. In the
went that any provision or clause of thi, Mortgage ur the \ute conflicts with applicable law. such conflict shall not affect
other pnnnions of this Mortgage ar the Notr which ~:u- he glean effect without the conflicting provision, and to this
cnJ the provisions of the ~lartgagc and the \otc arc drelareJ to he severahle-
16. Borrower's Cope. Borrower shall i+e f!!rnishcD :- cun(urmcd ropy of the Natc and of this Mortgage at the time
of e~erution or alter rernrdation hereof.
17. Transfer of the Property: Assumption. If all or ans part of the Property or an interest therein is said or transferred
h}' Borrower without Lender's pear written routine. eirluding ta- the creation of a lien or encumbrance subordinate to
this Mortgage. (h- the creation of a purchase money .ecurity interest for household appliances. (c1 a transfer by devise,
descent or by operation of law upon the Death of a.jo~nt tenant ar (d- the grant of am~ leasehold interest of three years or less
not containing an option to purchase. I.enJer ma}•.:rt Lender's option. declare all the wms secured by this Mortgage to be
~mmediateh• due and payable. Lender shall have w.uveJ such option tc accelerate if. prior to the sale or transfer, Lender
.!nd the person to whom the Property is to be soW or transferred reach agreement in venting that the credit of such person
~s satisfartan to Lender and that the interest payable on the sums urured bs• this blartgage shall be at such rate as Lender
shall reyucs+. If 1 ender has w•aiveJ 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 h}• 1_ender, Lender shall releace Borrower from all
uhligahons under this Mortgage and the Nate.
If tender exercises such option to accelerate. Lender shall mail Harrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not less than ;0 Jays from the date the notice is mailed within
which Borrower may pa} the sums Declared due. If Harrower (ails to pay such sums prior to the expiration of such period,
Lender ma}•. without further notice ur demand tin Borrower. ~nvoi.e an}' remedies permitted b}• paragraph t8 hereof.
NoK-I~KIFOR~1 ~~O~F`1~TS Borrower and Lender further covenant and agree as follows:
1g. Acceleration: Remedies. Fxcept as provided in paragraph 17 hereof. upon Borrower's breach of any covenant or
agreement of Borrower in this ~tortRaRe, including the covenants to pay when due 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) tbt setion
required to cure such breach: (31 a date. not less than 30 days from the date the notice is mailed to Borrower. by whkh such
breach must be cured: and 141 That failure to cure such breach on or before the date specified in the notice may rtsdt is
acceleration of the sums secured by This `tortgage. foreclosure by judicial proceeding and salt of the Property. The aotke
shall further inform Borrower of the right to reinstate after acceleration and the right to assert is the foreclosnrc proctedhsg
the non-existence of a default or am other defense of Borrower to acceleration and forecbsurc. If the breath b not cured on
or before the date specifed in the notice. Lender at I.tader's option may declare all of the sums secured by this Mortgage to be
immediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. Lender shall
bt entitled to co11eM in wch proceeding all expenses of foreclosure. including. but not limited to, rcawnabk attorney's tees,
and costs of documentary evidence. abstracts and title rc(~orts.
19. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have any proceedings begun by (_ender to enforce this Mortgage discontinued at any time
Addead~~ to P~rasrapb 15. The state and local laws applkable to this mortgage shall be the laws of the jurisdktion in
whkh the property is located. The foregoing sentence shall not limit the applicability of federal law to th~is~morigage.
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