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I.ender's written agreement or applicable lav?•. Borrov?er shall pay the amount of all mortgage insurance prcmiums in ihe
manne~ provided unde~ paragraph 2 hereof.
Any aniounts dishursed by I_ender purtuant to this pa~agraph with interest thercon, sfialt become additional
in~ebiedness of BorroNCr secured by ~his Mortgage. Unlesc BorroWer anJ Lender agree to other tertnS of paymeot, such
am~~unt~ shali t~e payablc upon notice from I_ender to Borrowcr reyuesting payment thereof, and shall bear interest from the
date of dicbi~rsement at the rate payafile f~om time to time on oi:lstanding principal under the Note unless payment of
interest at such rate would be cantrar~~ to aQplicable law, in ~hich event such amounts sfiafl bear interest at tfie highest rate
permissible under applicable laa~. Nothing c~ntained in this paragraph ~ shaii require I_ender to incur a~y expense or take
any action hereunder.
S. Inspection. !_endcr may make or causc to be made reatonahlc emriec upon and inspections of the Property, provided
that l.ender shall give B~rrower notice prior to any such inspection ~pecif}~ing reasonable cause therefor related to Lender s
interesi in the Property.
9. Condemnatbn. The proceedc ai an~~ aw•ard ~r claim for dama¢es, direct or cancequential. in connection with any
condemnation or other taking of the Propert~, or part thereof, or for conveyance in lieu oi condemnation, are hereby aSSigned
and shall be paid to [_ender.
In the event of a total takin¢ of the Proper~~•, the proceeds shall be applieJ to ~he ~ums secured by this Mortgage,
with the erceu, if any, paid to Borrower. )n the e~•ent c•f a~partial taking e! the Propert}~, tmless Borrower and I.ender
atherwice agree in writing. there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
as is equal to that proportion w~hich ihe amount of the sumc secured b}• this \langage immediately prior to the date of
taking bears to thc :a;: market value of the Proper~~ immediatel}~ prior ta the date of taking. with the balance of the proceeds
paid to Borrowcr.
if the Property is abandoned b~• BorroH~er. or if. after notice by l.ender to Borrower tfiat tfie condemnor offers to make
an aw•ard or setNe a claim for damaget, Borrower fails to res~nd to l.ender w~ithin 30 days after the date such not'sce is
mailed. Lender is ai~thorized to collect and apply the prcueeds. at I.ender's option, either to restoration or repair of the
Property oc to the sum~ secused b} this Mortgage.
Unlesc Lender and Borrow•er otherw•ise agree in writine, an~• such application of proceeds to principai shall not extend
or poctpone the due date of the monthl~• installments referred to in paragraphs 1 and 2 hereof or change the amount of _
such installments. ~
10. Borrowe~ Nol Released. Ertension of the time for payment or modification of amortization of the sums secured
by thic Mort~age granted by I_ender to am• :uccessor in interect of Borrower sfiall not operate to reiease, in any manner,
the liahflity of the original Borrower and Borrower't sucrestorc in interest. I.ender shall not be required to commence
proceedings against such successor o: refuse to ertend time for payment or otherw~ise modify amortization of the sums
secured bp thic Mortgage h}~ reason of an}• demand made by the ori¢inal Borrower and Borrowers wccessors in interest.
11. Forbearance by I.ender Not a Waiver. Any f~rhearance h~~ t.ender in exercising aoy right or remedy heretmder, or
otherwise aBurded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
The procurement of insurance or the payment of tarec or other liens or charges hy I_ender shal) not be a waiver of Lender's
right t~, accelerate the maturity of the indehtedness tecured h~• thia Mortgage.
12. Remedies Cumulativt. All remeciies pro~~ided in this Mortgage are distinct and cumiilative to any other right or
remeJ~~ under this Mortgage or affiorded b)~ law• or equity. and ma~• he exercised concurrentty. independenUy or successively.
13. Successors and Assigns Bound; Ioint and Se~eral i.iability; Captions. The covenants and agreements herein
comained shall bind, and the riRhts hereunder shall intire to. the respective successors aRd assigns of Lender and Borrower,
subject to the provisions of paragraph 17 hereof. All co~~enants and agreemenic o( Borrower shali be joint and several.
The captions and headings of the paragraph~ of this Mortgage are for convenience only and are not to be used to
interQret or define the provicions hereof.
14. Notice. Except for any notice required under applicabfe la..- to be given in another manner, (a) any notice to •
Borrower pmvided for in this Mortgage shall he gi~~en b~• mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other addrecc as Borr~wer ma~~ designate by notice to I.ender as provided herein. and
(b) am notice to Lender shaN be given b~• certified mail. return receipt requested. to l ender's address stated herein or to
i such other address as I_ender may designate b~ nMice to Born~u~er as pru~•ided herein. Any notice provided for in this
Mortgage shall be deemed to ha.•e been gi~~en to Borra~•cr or I.cnder ~•hen given in the manner designated herein.
;i 15. Uniform Mort~a~e: Go~•erninR I.aw; Se~•erability. Thi~ form of martgage combines uniform covenants for national
; use and non-uniform co~•enants with limited variationc b}• juricdiction to consti~ute a uniform security instrumem covering
f real properry. This Mortgage si~all be governed h~~ the la~• of the yurisdiction in which the Property is located. In the
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= event that any provision or clause of this Mortgage ~~r the N~te c~nflicts with applicahle law, such conflict shall not aftect
~ other pro~•isions of this Mortgage or the Note w•hich can be given effect without the conflicting provision, and to this
' end the provisions of the Mortgage and thc Note are declared to be severablc.
16. Borrow~er's Copy. Borrow~er shall bc furnished a rnnformed copy of thc Note and of this Mortgage at the time
: ~;:~ti of execution or after recordation hereof.
~f~ 17. Transfer of the Propertc; Assumption. Tf all or an~~ part o( the Property or an interest therein is sold or transferred
; by Borroaer without I_ender's prior writt~n consent. e~c{uding t~l the creation oF a lien or encumbrance sulwrdinate to
z ~~~this Mortgage. fbl the creation ~f a purcha~e mone~• ~ecurin~ interest for h~usehold appliances. (c) a transfer by devise.
; ~ descent or by operation of laH upon thc death c~f a j~~int tenant c•r (d~ the grant of an~• Icasehold interest of three years or less
~ not containing an option tc, purchase. Lender mat~. at 1_ender'. ~,p~iun. declare all the ~ums secured by this Mortgage to be
~ immediatel~~ due and pa}~able. L~nder shal! ha~•e uai~~ed surh option tn acceterate if. prior to the cale or transfer. I.ender
~ and the person to .~•hom the Propert~~ ic to be sol~f or transfcrred reach agreement in writing thai the credit of sucfi person
' i~ satisfactor}• to 1_ender and that the intere,t pa~able ~n ihe sumc secured b~• thi~ Morteage shall be at such rate as I.ender
' shall request. If I.ender has waived the optic~n t~ acreler,~te prm•ided in this paragraph 17, and if Borrower's successor in
interest hac esecirted a w~ritten assumption agreement a~cepted in ~.riting by I_ender, f.ender shali release Borrower from all
~ obligations undcr this Mortgage and thc'Votc.
If f.ender exercise~ such optinn tc~ acrelerate. I.en~er .hall mail B~~rro~er notice nf acceleration in accordance with
- pa~a¢raph 14 hereof. S~ich notice sh:~ll provide a pcri~~d ~~f n~~t Ies~ than z(1 dapc fmm the date the notice is mailed within
which Borrower ma~~ pa~ the sums declare~i due Borru~er fai{~ to pay such tiums prior tc+ the expiration ~f such period,
' I.ender ma}•. without further natice ~~r demand i~n k3orrower. inv~ke am rcmedies permitted b~• paragraph IR hereof.
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~tov-UNiFOK~~ Co~~FV~~T~ Borrcwer and I.ender furtfier covenant and agree as follows:
18. Acceleration; Remedies. Except as pro~•ided in para~raph 17 hereof. upon Bonower's breach of ~ny covenant or ;
agreement of Borrower in this ~iortga~e, includinR Ihe co.en,~nts to pa} when due any sums secured by th~.s Mortgage. I,eeder '
prior to acceltration shall mail notice to Bor~ower ac provided in paraRraph 14 hereof specifying: (1) tht breach; (2) the action
required to cure such breach: (3) a date. not less than 30 da~~s irom the date the notice is mailed fo Borrower. by whic6 such
breach must be cured; and (4) that failure to cure such breach on or before the date specifitd in the notice mav resalt in
acceleration of the sums secured by this ~1ortRa~e. foreclosure b}~ judicial proceeding and sale of the Pmperty. 'Ilie notice
shali further inform Borrower of the ri~ht to reinslate after acceleration and the rigbt to assert in the forcclosurc proceedit~
the non-existence of a default or any other defence of Borrow•er to acceleration ~nd foreclosure. if the breach is not cured on
or before the dale specified in the notice. I.ender al I.e~der's option ma} declare all of the sums secured by this Mortgage to be
! immediatel~• due and payable without furlher demand and mac foreclnse this 11ort~age by judicial proceeding. Lender sfidl
` be entitled to coiiect in such proceedinR all expenses of foreclosure, including, but not limited to, reasonable sttorney's fees.
~ and costs of documentary evidence. abstr~clc and title reports. .
19. Borrower's Riqht to Reinstate. \nlw~ith~landing Le~.ier', ac~eteratic.n oE the sums cecureJ by this Mortgage.
Borrower shall have the right tc~ h~ve am prcxecd~n~:~ hrgun h~ I.ender to enforce this Mortgage di~cont~nued at any time
~t)r;l~ 413 PAGE i714
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