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a.endcr's written agreement or applicable law. Borrower shall pay the amount of all mort~ti~e insurance p miums in the
manna pruvidrd under paragraph 2 hereof.
An}• amuunh Disbursed by Lender purwant to this paragraph 7, with interest thereon, shall become additional
indrMednevc of Itorn~wer secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
amounh shall Fx payable ulxm notice from Lender to Bormwe- requesting payment thereof, and shall hear interest from the
date of disbursement at the rate payable fmm Time to time on outstanding principal under the Note unless payment of
interest at such rate wou1J he contrary to applicable law, in which event such amounts shall hear interest at the highest rite
permissible under applicable law. Nothing contained in this paragraph 7 shall rcgrtirc Lender to incur any expense or take
any action hercundcr.
><. Iwspectbn. Lender may make or cauve to I+e made rcaconahk entries upon and inspections of the Property. provided
that Lender shall give Borrower notice prier a. any such inspection specifying rcasonabk cause therefor related to Lender's
interest in the Property.
9. Coademnatbn. The proceeds of any award or claim for damages. direct or consequential, in rnnrtection writh any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. arc hereby sssigned
and'shall be paid to Lender.
In the event of a total taking of the Property. the proceeds shall be applied to the sums scarred 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 he applied to the sums secured by 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 daft 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 Borrower.
If the Property is abandoned bs• Borrower. or if. after notice by Lender to Borrower that the condemnor oRen to make
an award or settle a claim for damages. Borrower fail. to respond to Lender within 30 days after the date such notice is
mailed. 1_ender is arrthori~ed to collect and appl}• the proceeds, at Lender i option, either to testontion or repair of the
Property or to the sum. secured M• this Mortgage.
Unless Lender and Borrower otherwise agree in writrnle. any such application of proceeds to principal shall not extetrd
or postpone the due date of the monthh• installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Borrower Not Released. Extension of the lime for payment 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 rckase, in any manner.
the liability of the ori¢ina) Borrower and Borrower i successors in interest. 1_ender shall not be required to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
secured by this Mortgage by reason of any demand made by the original Borcower and Borrowers successors in interest.
I1. Forbearance by Lender Not a Waiver, Any f~rhearance by Lender in exercising any right or remedy hercrmder, or
otherwise afforded by applicable law. shall not bt a waiver of or preclude the exercise of any such right or ranedy.
The procurement of insurance pr the payment of taxes or other liens or charges by Lender shall not be a waiver o[ Lender's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Remedies Cumulsti~e. All remedies provided in this Mortgage arc distinct and cumulative to any other ri~ht or
remedy under this Mortgage or afforded by law or equity. and may be exercised concurrently, independently or srrecessrvely.
13. Successors and Assigns Borrnd:.Ioiat and Several Liability; Csptbrrs. The covenants .and agreements herein
contained shall hind, 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 be joiry and several.
The captions and headings of the paragraphs of this Mortgage are far convenience only and arc not to be used to
interpret or define the provisions herrnf.
14. Notke. Except for any notice required under applicable law to bt given in another manner, (a) any notice to
Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other address as Borrower mav_ designate by notice to Lender as provided herein, and
(h) any notice to (_ender shall he given by certified mail. return receipt requested. to I ender's address stated herein Or to
such other address as Lender may designate b}• 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. Uniform Mortgage: Govennint! law: Severability. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variaUOns by jurisdiction to constitott a uniform security instrument courting
rcat property. This Mortgage shall be governed hs• 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 wish 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 Volt are Declared to he severable.
16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17. Transfer of the Property: Assumption. If all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior wnnrn umsent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. Ih) the creation of a prrrchaK m~~neY security interest For household appliances, (e) a transfer by devise.
descent or by operation nl law• upon the Jcath of a joint tenant or (dt the grant of any leasehold interest of three years or kss
not containing an option to purchase. (.ender may. at Lender's option, declare all the sums secured by this Mortgage to bt
rmmed~ately due end payable. Lender shall hive w:nved such option to arc~lerate if, prior to the tale or transfer, Lender
and the person to whom the Property is a~ to .oIJ or Transferred reach agreement in writing that the credit of such person
is satisfactory to I.enJer and that the interest payable on the sums secured by this Mortgage shall be at arch rate as Lender
shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower ~ successor in
interest has executeD a written assumpr~on agreement accepted in writing by Lender. Lender shall release Borrower from all
obhgahons under this Mortgage and the Note.
If Lender exercises such option to accelerate. (.ender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the trotice is mailed within
which Borrower 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. invoke any remedies permitted by paragraph IR hereof.
NON-UNIFORM COYFNANTS Borrower and Lender further covenant and agree as folbws:
18. Acceleration; Remedies. E:cept as provided is paragrspb 17 hereof. apow Borrower's breach of aay corewsM or
agreement of Borrower in this Mortgage. including the covenants to pay wbtw dot say snots secured 6y ebb Mortgage. Lewtter
prbr to accekrstbn shall mail notice to Borrower as prorWed in paragrspb 14 hereof specifying: (1) the breach: 121 tbt aefiow
required to cure such breach; (3) a date. not kss Ibaa 30 days from Ibe date the notke b mailed to Borrower. by whkb snelr
breach must be crated; and (4) that failure to care sttch brtacb oa or 6efort the date specified iw the aolke rway resttit iw
sccckration of 16e sums secured by fhb Mortgage. foreclosure br judicisl proceeding and ssk of Ibe Property. The aotiet
shill further inform Borrower of the right to reinstate after accektstba and the right to araeA iw the torecbsnrt proetedltt~
the non-existence of a detauk or any other defense o/ Borrower to sccekration sad forecbsnre. It the breach b ttrof etrrie~ ow
or before the date specified in the notice, lender at Lender's aplbw may deelart ss of the strwts seared by ebb Mortgage to be
immediately due and payable without further demand and may torecbst fhb Mortgage by jndkW proeeediwg. Lender sbas
br estitled to cotket M such proceeding stl t:penses rrf torecbsarc. Including. brit woe dmitcd to. «ssoaabk stturwey's fees,
and costs of documentary evidence. abstracts and titk reports.
19. Borrower's Right to Reinstate. NotwithstrndinK I ender's acceleration of tint sums secured by th~c Mortgage.
Burrower shall have the right to have am prcxecD~ngs he fun by Lender to enforce this Mortgage discontinued at any hme
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