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rnder'c wnttenrgrcement or applicable low. Harrower shall pay the amount of all mortgage insurance premiums in the
manner pruwdcd under paragraph 2 hereof.
Any amuui~t+ di+hur+cd by 1 ender pur+uant to this paragraph 7• wuh intercq thereon, shall become additional
indcMcdne++ of Iturruwcr +ecured by th~+ Mortgage !)rile.. B,uruwrr and 1 ender agree to other terms of payment, such
am~,unt+ .hall fx pa}•ahle ulx~n nutise from 1 ruder to &~rrowcr reytrccting payment thcrcYt, and shall hear interest from the
date of di+bur+ement at the rate payable from time to Time ore outstanding principal `under the dote unless payment of
interest at such rare would he rnntrarv a, applicable law, in which event such amounts shall hear interest at the highest rate
permissihk under applicable law•. Nothing contained m this paragraph 7 shall require Lender to incur any expense or take
any action hereunder.
8. Ittspectioa. 1_ender may make or cau+c to be made rcasonahk entries upon and inspections Of the Property, pro~~ded
that lender shall give &~rrower notice prior w any s4~ch inspection specifying rcasooabk cause therefor related to Lender's
interest in the Property.
9. Cowdcmnatiow. The proceeds of any award or claim for damages. direct orconsequential, io eoisrrection with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, an hereby tusiaoed
and shall be paid to Lender.
in the event of a total taking of the Property, 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, unkss Borrower and Lender
otherwise agree in writing, there shall tx 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 imrt~diately prior to the date of
taking bears 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 h}• Borrower. or if. after notice by Lender to Borrower that the condemnor otters to make
an award or settle a claim for damace+. Aarrower fail. to respond to Lender within i0 days after the dale such notice is
mailed. [_ender i+ authorin-d to collect and apply the proceeds, at Lender's option, either to restoration or repair of ~lr
Property or to the +um+ .scored h}• thi+ Mortgage.
Unless Lender and Borrow•cr otherwise agree in writinc. any such application of proceeds to principal shall not extend
or prxtpone 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 amortiution of the sums secured
by this Mortgage granted by !.ender to any successor in interest of Borrower shall not operate to rckase, in any mantxr.
the liahiliry of the ori¢inal Borrower and Borrower i 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 sums
secured by this Mortgage by reason of any demand made b}• the original Borrower and Borrowers strccecsors in interest.
1 i. Forbearance 6y Lender Not a Wdver. Any forbearance by lender in a<ercising any 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.
The procurement of insurance pr the payment of (axes or other liens or charges by Lender shall not he a waiver of Lender's
right to accelerate the maturity of the indebtedness secured by this Mortgage. '
12. Remedies Cnmulatitre. 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 he exercised concurrently. independently or successively.
' 13. Successors and Assigws Bound:.7oiat and Several i.iabiiity; Captions. The covenants and agreements herein
contained shall hind, and the rights hereunder shall inure to. the respective successor and assigns of Lender and Borrower.
subject to the provisions of Paragraph 17 hereof. All covenants and agreements of Borrower shall be joird and seven!.
The captions and headings of the paraeraphc of this Mortgage are for convenience only and are not to bt teed to
interpret or define the provisions hereof.
ld. 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 whcr address as Borrower mav_ designate by notice to Lender as provided herein, and
(b) any notice to Lender shall he given by certified mail. rerurn receipt requested. to I ender s address stated herein 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 have been given to Borrower or Lender when given in the manner designated herein.
15. Uniform Mortgage: Covernirrg law: Severabilit}•. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations h} 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 clause of thi+ Mortgage or the. Note conflicts with applicabk law, such conflict shall not affect
other provisions of this Mortgage or the Nntc which can be given effect without the conflicting provision, and to this
end the provisions of the Mortgage and the '.tote arc declared to he severable.
16. Borrower's Copy. Borrower shah be turns.tied 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 an}• pan of the Property or an interest therein is sold or transferred
by Borrower wphout Lender i prior won: r. u>ncent. excluding (a) the creation of a lien or encumbrance subordinate to
this Mortgage. (hl the creation of a pur~hasc m~•nev security interest for household appliances, (c) a transfer by devise,
descent or by oFeration of law upon the Death of a joint tenant or fdr the grant of any leasehold interest of three years or kss
not containing an option to purchase. 1 ender ma}. at Lender's option. declare all the sums secured by this Mortgage to be
~mmed~ately due and pa}•aMc. Lender .hall have w,uved such option to accclcrate if, prior to the wle or transfer. Lender
and the person to whom the Property i. a, be .atJ or transferred reach agreement in writing that the credit of such person
is satisfacton• to Lender and that the intcre.t pa}able on the sums secured by this Mortgage shall bt at such rate ac Lender
shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower a successor in
interest has executed a written assumption agreement accepted in writing by I_tnder, Lender shall release Borrower from all
obligations under this Mortgage and the Notc.
If Lender exercises such option to accelerate. lender shall mail Borrower notice of accekration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
which 30. rower may pay the sums declared dot. If Borrower fails to pay such sums prior to the expiration of such period,
Lender may. without further notice or demand on Horrower. invoke any remedies permitted by paragraph IR hereof.
NON-LiN1EORM COVENANTS Borrower and lender further covenant and agree as follows:
18. Accelentioa; Remedies. lEttcept as provided is paragraph 17 hereof, epee Borrowers breach of awp co•etaw! or
agreement of Borrower in this Mortgage. iacludirrg the cOreMnls to pay wbea dot nap sums secured by ebb Mortgsge. Lewder
prbr to accekntion shall mail notke to Borrower is provided la psragrapb lI hereof specNping: (t) tbt breach;121 the adiow
required to cure such breach; (3) a date. act less than 30 daps fwm the date the notke b wailed to Borrower. by whkb sash
breach most be cored; sad (4) that failure Io care swcb breach ow or before the dMe specified in the aolke may recede h
aecekntion of the sours secured by this Mortgage. foreclosure by judkia) proceedbrg aad sale of the Property. The notice
shall further inform Borrower of the right to reinstate after scceleratiow and the right b assert iw flee totecloswre proceedlwg
the non-existence of a defauk or any other defense o/ Borrower to sccekratioa and tortclosYre. If the Mracb b nM cYrtrd ow
or before the date specified is the notke, lender at Lender's optiow way declare aN of the swwts txtwred by ebb Mortgage fo be
immediately due and payable without further demand end map foreclose N-b Mortgage bf jadkW proeeediwg• I.e'nAer chop
be eetitkd to collect M swcb proceeding aft atrpensts of foreclowrc, iwclading. bat cot limited to. reasoaabk m•,rnev's ftss.
and costs of docurwewtary evidence. abstracts and title reports.
19. Borrower's Right to Reinstate. Notwith+tandinK 1 ender s acceleration of the sums xcured by this Mortgage.
Borrower shall have the right to have am prexeedme. hr~i~n by Lender to enforce thi+ Mortgage dncontinued ar any trmt
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