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I.rndcr'c wnttcn agreement or appGcahlc law. Borrower shall pay the amount of all mortgage insurance premiums in the
manner pruvtdcd under paragraph 2 hereof.
Any amount+ di+hurscd~ by I ruder purwant to this paragraph 7, wnh interest thereon, shall become additional
indehtedne+c of itutruwer +ecurcd by thi+ Mortgage t)nle++ Borrower and 1 enter agree to other teems of payment, such
amounts shall he payahle upon nutire from I ruder to Borrow•cr rcyttccting payment thcrcof, and shall hear interest from the
date of di+hursement at the rare payahle from time to time an outstanding principal under the Note unless payment of
interest at such rate would he contrary a. applicable law, in which event each amounts shall hear interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall regttirc Lender to incur any expense or take
any action hereunder. ,
S. httspeetioa. lender may make or eau+c to he made reasonable entries upon and inspections of the Property. provided
that Lender shall give Borrower notice prier to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connoction with any
condemnation or other taking of the Property, or pars thcrcof, or for conveyance in lieu of condemnation. arc hereby assigned
and shall be paid to Lender. ~ • ,
Tn the event of a total taking of the Property, the proceeds shall be applied to the "st~ris'secdred by this Mortgage,
with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, ttnlcss Borrower and Lender
aherwise ague in writing. there shall be applied to the sums secttrcd by this Mortgage such proporiion of the proceeds
as is equal to that proportion 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 Property immediately prior to the date of Taking, with thee balance of the proceeds
paid to Borrower.
if the Property is abandoned hp Borrower, or if. after notice by Lender to Borrower that the condemnor oBers to make
an award or settle a claim for dam:itc+. Borrower fail+ to re+pond to Lender within 30 days after the date such notice is
mailed. I_endtr is authorized to collect and apply the proceeds. at Lender t option, either to restoration or repair of the
Property or to the cum+ +ccured M• thi+ Mongagc.
• Unless Lender and Borrower otherwise agree in arittng, 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 hereof or change the amount of
such installments.
10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by Lender to any cutt~ecsor in interest of Borrower shall not operate to rctease, in any manner.
the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the c~~ms
secured by This Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest.
11. Forbearance by [.ender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
otherwise afforded by applicable law. shall not ere a waiver of er preclude the exercise of any such right or remedy.
The procurement of insurance pr the payment of taxes or other liens or charges by Lender shall not he a waiver of Lender's
right to accelerate the rnlturity of the indehtednecs secured by this Mortgage.
12. Remedies Camulati~e. All remedies 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 concurrently. independently or successively.
13. Sncressors and Assigns Bound; .Joint and Several i.iabilifr; Captions. 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 1T 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 arc net to be used to
interpret or define the-provisions hereof.
14. Notke. 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 certified mail addressed to Borrower at
the Property Address or at such other address as Borrower mav_ designate by notice to i.ender as provided herein, and
(b) any notice to Lender shall he given by certified mail. return receipt requested. to I ender s address stated herein or to
such other address as Lender may decittnate by notice to Borrower as provided herein. Any notice provided for in this
Mortgage shall be deemed to have been g~+•en to Borrower or l.cnder when given in the manner designated herein.
15. Uniform MoriRsRe; Governing taw; Seserability. Thi+ form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations hp juncdiction to constitute a uniform security instrument rnvering
real property. This Mortgage shat! be 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 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 he severable.
16. Borrower's Copy. Borrower shall be furni+hed 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 Pmpetty or an interest therein is sold or transferred
by Borrower without Lender's prior written iun+ent. excluding lal the creation of a lien or encumbrance subordinate to
this MSortgage. (hl the creation of a purchacr money +ecurity interest for household appliances, (c) a transfer by devise.
descent or by operation of law upon the death of a joint tenam or Id- the grant of any leasehold interest of Ihrec years or less
not containing an option to purchase. Lender map. at Lender's option, declare all the sums secured by this Mortgage to be
immediately due and payahle. Lender shall ha+e Hawed such option to accelerate if. prior to the wle or transfer. Lender
and the person to whom the Property i+ to he .o1J or transferred reach agreement in writing that the credit of cttch pet•son
is satisfactory to fender and that the intcre.t payable 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 i successor in
interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
obligations under this Mortgage and the Note.
If [_ender exercises such option to accelerate. Lender ehall mail Borrower notice of accekration in accordance with
paragraph 14 hereof. Such notice +hall provide a period of not 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 expiration of each period.
Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 1 R hereof.
NON-UNIFORM COVENANTS. Borrower and Lender further COVtnant and agree as fO11owS:
ls. Acceleration; Remedies. Except ss provided is paragraph 17 hereof. upon Borrowers breach of any cotenant or
agreement of Borrower in this Mortgage. including the cotenants to pay when due gay snms secured by fhb Mortgage. iendcr
prior to accekratba shall mail notke to Borrower as provided la paragraph ld hereof specltying: (1) the bresch:121 the adbn
required to core snch brcsch;l3) slate. not less than 30 days from the dale the notke b nttriled to Borrower. br whkh such
bttcach must be cored; and (4) That failure to core stub brescb ow or before the date specBfied in the nolke mar resuN is
accekration of the sans secured br this Mortgsge. tonclosure br jndlcial proceedlrtg and sale of the Property. The notke
shall further inform Borrower of the right to reinstate after scctrktntioa and the right to assert ire the /oreelostrre ptoccediag
tbt non-existence of a default or any other defense o/ Borrower to accelerstioa awl foreclosare. It the breach b not cored oa
or before the date specified is the notice. tender at Lender's aplbn roar declare aN of the s~ttaa seemed br ebb Mortgage to be
immediately due and parable without further demand and may foreclose tb4 Mortgage br jndkW proeeedinR• I.tnAcr shall
be eotitkd to cogect in snob proceeding afl espences of toreclosurc. including. bet got United to. reasonable ata-rnev's fees.
and costs of documeetary evidence. abstracts and title reports.
19. Botnrowsrs Right to Reinstate. Notwith+tanding.~ codex's acceleration o! the sums secured by th~c Mortgage.
Borrower shall have the right to have and prcxcedine. tre'~~n by Lender to enforce IM- Mortgage d~+conUnued at any time
a~344 P~~F2575