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Lender's w~itlen agreement or apQlicable law. Borrower shall pay the amount of all mortgage iasunnce premiums in the
manner provided unde~ pa~agraph 2 hereof. ~
Any amounts disbursed by Lende~ pursua~t to this paragraph 7, with interest thercoo, shsll become additional
imiebtedness of Borrower secured by this Mortgage. Unless Borrower anJ Lenckr agrce to othe~ ternu of payme~t, such
amounts shall be payabk upoo nc?tice from i.eoder to Borrowcr rcquesling paymeot thereof, and shall bear intercst from the
date of disbursement at the rate p~yable from time to time on outstanding principal unde~ ihe Note u~kss payment of
intercst at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest nte ~
pennissibk under applicable law. Nothing contained in this paragraph 7 shall rcquire i.ender to incur any expense or take
any action herounder. '
8. lospecNon. Lender may make or cause to be made reasonable eMriec upo~ aod inspections of the Property. pmvided
that Lender shall give Bonower notice prior to any such inspection specifying reasonabk cause thercfor rolated to Lender's
interest io the Property.
9. Coademaatbn. 'il~e proceeds of any av?~ard or claim foc damaga, dircet or concequential, in connection with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. are hereby assigned
and shall be paid to Lender.
i~ the event of a total taking of the Pmpeny. the proceeds shall be applied to the ~oms securcd by ihi~ Mo~tgage.
with the e+~cess, if any, paid to Borrower. in the event of a partial taking of the Property, unlese Bomower a~d Lender
otherwise agree in writing. there shall be applied to the sums secured by thi~ Mortgage such proponion of the pmoeeds
as ic equal to that proportion which the amount of the sum~ seciired by this Mortga~te immediately prior to the date of
taking bears to the fair market value of the Property immediately prior to the Jate of taking, with the balance of the proceeds
paid ia Borrower.
1f the Property is abandonecl b~• Borrower. or if. afternotice by I.ender to Bormwer that the condemnor offers to make
an award or settle a claim for damagec. Borrower fails to respond to t.ender within 30 days after the date such notice is
mailed. Lender is authorized to collect and apply the proceeds. at i.ender c option, either to restoration or repair of the
Propeny or to ihe sums secured h~ Ihis Mortgage.
Unless i_ender and Borrower otherv?i~e agree in ~~•riting. any such application of pmceeds to principal shall ~ot extend
or postpone the due date of thc monthlp installmcnts ccfcrrcd to in paragraphs 1 and 2 hereof Qr change the amount of
such installments. •
' 10. Borrower Not Released. Extensian of the time for payment or modification of amortization of ihe sums secured
by this Mortgage granted by I:ender to any ~uccescc~r in interect of Borrower chall not operate to release. in any manner,
thc liability of the originat Borrower and Borrowc~
c successorc in interest. I.ender shall not be required to commence
proceedings against such succes.car or refuse to e~tend time for payment or otherwise modify amortization of the sums
secured by this Morigage by reason of any demand made b~• the orieinal Bormwer and Barrower's successors in interest.
11. Forbearance by I.ender Not a Wai~•er. Any forhearancc ht I.ender in cxercising any right or remedy hereunder, or
othenvise afTorded 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 taxes or othei ~~ens or charges by I.ender shall not be a waiver of Lender's
right to accelerate the maturity of the indehtedness cerured hy thic Mortgage. •
12. Remedies Cnmulstire. All remedies provided in thic Mortgage are distinct and cumulative to any other right or
remeJy under this Mortgage or atforded hy law or equity. and map be exercised concurr~ently, independently or successively.
13. Successors and Assigas Bound; Joint and Se~~eral T.iabillty; Captions. The covenants and agrcements herein
contained shall bind, and the rights hereunder shall inure to. the rcspective successorx and anigns ~f Lender and Borrower, _
subject to the provision~ of paragraph 17 hereof_ All covenants and agreementc of Borrower shall be joint and several.
The captions and headings of the paragraphc of this Mongagc arc for comenience only and are not t~ be used to
interprct or define the pmvisionc hereof.
l4. Notice. Except for any notice rcquired under applicable law~ ta be given in another manner, (a) any notice to
Borrower provided for in this Mortgage shall he given by mailing ~uch notice b}• certified mail addressed to Borrower at
the Property Address or at such other addres~ as Bormw•er may designatc by notice to T.ender as provided herein, and
(b) any notice to Lender shall hc given hy certificd mail. ret~~m rcceipt requested. t~ l.ender s address stated herein or to
! such other address as Lender ma~~ designate b~• notice to Borrower as provided herein. Any notice provided for in this
Mortgage shall be deemed t~ havc been given to Borrowcr or I.cnder when given in the manner designated herein.
I''~, l5. Unifonn Mortgage; Corernin~ Law; Severnbility. This form of mortgage combines uniform covenants for national
j use and non-uniform covenants with limited variations hy jurisdiction to constit~ite a uniform securiry instrume~t covering
i real.property. This Mortgage shall he 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 T~ote conflictc Nith applicable law, such conflict shall not affect
other provisions of ihis Mortgage or the Note ~~•hich can be given effect withaut the conflicting provision. and to this
, end the provisions of the Mortgage and the Notc are Jcrlarcd to he severable.
~ 16. Bormwet's Copy. Borrow•er shall bc furni~hed a conforn~ed rnpy of thc Notc and of Ihis Mortgage at the time .
of execirtion or after recordation hereof.
~ 17. Transfer of t6e Property; Assumption. If all or an}~ part of the Pmpcrty or an interest therein is sold or transferred
i~u ~ by Borrower without Lender's prior wriuen consem. e~cluding (al the creation of a lien or encumbrance subordinate_ to -
, this Mortgage, (b) ihe creation of a purchase money security interest for household appliances, (c) a transfer by devise,
descent or by operation of law upon the death of a joint tenant or (di the grant of any leasehold interest of three years or less
not containing an option to purchase. [_ender may. at Lender'c option. declare all ~he sums secured by this Mortgage to be
immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, I.ender
and the person to whom the Property is to be so1J or traosferred reach agreement in writing that ihe credit of such persor
- ic satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
shall request. If I_ender has waived 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 by I.eneler. Lender shall release Borrower from all
obligations under this Mortgage and the Note.
1f Lender exercises such option to accelerate. I_ender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a periocl of not Iess than 30 days from the date the notice is mailed within
which Borrower may pay the sums declared due. lf Borrower fails to pay such sums prior to the expiration of such period, ~
~ Lender may, without further notice or demand on 13orrower, invoke any rcmedies permitted by paragraph 18 hereof.
~ Nox-UNtFOR~ar Covex~N'rs. Borrower and Lender further covenant and agree as follows:
= 18. Accekration; Remedks.• Except as provided in psra~;raph 17 hereof, upoa Bomower's breach of aey co~caaot or
9greemeat of Borrower in t6is Mortgage. includi~ the covcaants to pay whea due aoy sums secored bY tbis Mortsa~e, Leeder
? prior to accekntion shaq mail notice to Borrower as pmvided in para~rnph 14 6ereof specifyi~: (1) ttie bresc6; (Z) tLe actioa
- reqnired to cnre sacb brach; (3) a date, not le~ t6an 30 days fmm the date the aotice is mailed to Borrower, by w6ieti sach
~ bewch mmt be enred; aod (4) tlwt f'ilure to curc such breach on or befors the date spteffiied in the sotke msy radt in
accekrafjoa of t6e sums secwed by thiR Mortga~e, forecbwre by judicial proceed[ns snd sak of t6e Property. 'lLe sdice
~ shaU furt6er infora~ Borrower of t6e riaht to rei~te after accelcratan and the ri~6t to assert ia t6e foreclowre ptoceed~
~ - tbe non-ex~steace ot a defanlt or aay other defanse of Borrower to accekration and forecbwrc. H t6e breseb k oot esrsd o~
or 6efore the dste speciRed ia ti~e aotice. Lender at Leoder's option may declare all of the soms secered by t~b Morf~e to be -
immediatdy dee aad payabk witlaot fnrther demand aad may foreclose th~ Mortga6e by jndkid proceedin~. Leader sbaH
be eatiHed to collect in soch proceedlu= all ezpeases of foreclosure, includiu=. bnt aot limited to, reaconable atto~sey's fees,
and costs of docnmentary evideace, abstract4 snd titk reports.
19. Eorrovre~'s Ri`6t to Reiastate. Nolwithstanding Lender's acceleration of the sums secured by this Morigage.
Borrower shall have the right to have any proceedings hegun by Lender to enforce this Mortgage discontinuod at aay time
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