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Lender's written agreement or applicable law. Borrower shall pay the amoun~ of all moKgage insurance premiums in the r
manner provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to this paragraph 7, with inttrest thereon, shall become additional ~
indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lerickr agree to other ternu of payment, such ~
amounts shall be payable upoo notice from [_ender to Borrower requesting payment thercof, and sha11 bear interest from the •
date of disbursement at the rate payable from time to time on outatanding principal under the Note unless paytnent of
interest at such rate would be contrary to applicable law, in which event such amounts shall beRr io~qrest at the hightst rate ~
permissible under appticabk Iaw. Nothi~g contained in this paragraph 7 sha11 requir~e I.ender ta iacur any eapense or take ~
any actior~ henunder.
8. inspectba. Lender may make or cause to be made reasonable entri~s upon and inspoctions of the Property, provided
that Lender shall give Borrower notice prior to any such inspection specifying reasonabk cause therefor related to Lender's
interest in the Property.
9. Coede~a~doa. The proceeds of any award or claim for damages, dirtct or consequential, in oonnection with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, arc hereby assigned
and shall be paid to L.cnder.
in ii~e event of a total taking of the Property, the proceeds shall be applied to the se~ms secured by this Mo~tgage.
with the excess, if any, paid to $orrower. Tn the event of a partial taking of the Property, untess Borrower and I.ender
othetwise 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 wfiich the amount of the sums secured by this Mortgage immediately prior to tt~e date ot
taking bears ta the fair market vatue of the Propeny immediately prior to the date of taking, with the balance of the proceeds
paid to Borrower.
If the Property is aband9ned by Borrower, or if. after notice by Lender to Borrower that tht condeannor of~era to make
an award or settle a claim for damages, Borrowrr fails to respond to Lende~ within 30 days after the date such notice is
mailed. Lender is authorized to callect and apply the proceeds, a! I.ender's option, either to restoration or repair of the
Propeny or to ihe sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shalt not extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
sueh installments.
IA. Dorrower Not Released. Fxtension of the time for payment or modiffcation of amortization of the sums securtd
by this Mortgage grartted by Lender to any successor in interest of $orrower shall not operate to rekast, in any manner,
the liabiliry oE the originai Borrower and Borrower i si~ccesso~s in intefest. Lender shall not be reqoircd !o comtr~nce
proceedings agairtst such successor or rtfvse to extend time for payment or otherwise modify amortezation of the sums
secured by this Mortgage by reasoo of any demand made by the original Borrower and Borrower's succe~ors in interest.
11. Forbearance ~y Ltader Not a Waiver. Any forhearance by Lender in exercising any right or remedy hereunder, or
othervvise afforded by applicable law, shali not be a waiver of or preciude the eaercise of any such right or remedy.
The procurement of insurance or the payment of taxes or other liens or charges by I_ender shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness secured hy ihis Mortgage.
lZ. Re~edies Camulat~e. All remedics provided in this Mortgage are distinct and cumu(ative to any othtr right or
remedy under this Mongage or atforded by law or equity, and may be exercised concurrently, indtpendently or successively.
13. Saecessors apd Asai~DS Bo~~nd; Joinf and Several Lia6itity; Captbos. 71~e covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower.
subject ta the provisio~s of paragraph 17 hereof. All covenants and agreements of Borrower shali be joint and several.
'Il~e captions and headings of ihe paragraphs of this Mortgage are for convenience only and are not to be used to
interpret or define the provisions hereof.
14. Notice. 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 maii addressed to Borrower at
the Property Address or at such other address as 8orrower may designate by notice to Lender as provided herein, and
(b) any notice to Lender shall t~e given by certified mail. retum receipt requested, to i.ender s address stated hercin or to
such other address as Lender may designate by notice to Borrower as provided hereirs. Any notice pmvided for in t6is
Mortgage shall be dcemed to have been given to Borrower or Lender when given in ti~e manner designated herein.
15. Unffoim Mo~s~e; GorerninR I,nw; SeveraMlity. This form of mortgage combines uniform covenants for national
usc and non-uniform covenants with limited variations by jurisdict~on to constitute a uniform security instrument covering
real property. This Mortgage shall be governed hy 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 confticts with appticable law, such conflict shal! not af~ect
other provisions of this Mortgage ~r 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 be severable.
16. Bo[rower'a Copy. Bornower shall be furnished a conformed copy of the Note and of this Mortgage at tbe time
of execution or after recordation hereof.
17. TraasEer of t6e Property: Assnmpt'ae. if all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent, excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by dtvise,
descent or by operation of law upon the death of a ioint tenant or (d) the grant of any leasehold interest of ihree years or less
not containing art option to purchase, L,ender may, at Lender ~ option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale ot transfer. L.endtr
and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interest payable ~n the sums secured by this Mortgage shall be at such rate as I.ender
' - shall request. If Lender 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 Lender, Lender shall release Borrower from all ~
obligations under this Mortgage and the Note. ;
tf Lender exercises such option to acceterate, t_ender shall mait Borrow~er notice of acceleration in accordance with
paragraph 14 hereof. Such notice shal! provide a peri«l of not less than 30 days from the date the notice is mailed within
which Borrower may pay the sums declared due. If Borrower faiis to pay such siims prior to the expiration of such period.
Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 1S hereof.
Nort-UxtFORnt CovEx~trrs. Bonower and Lender further covenant and agree as follows: !
18. Accekration; Remediea. E:cept as provided ia paragrap~ 1'7 txreof, upoa Borrower's breach of aay coveasat or '
agreement of $orrower io this Mortga~e, iocludiog ti~e coveaanfs to pay whea dne say soms secered by this Mo~a6e, Leader ~
prlor fo accekratbn s6alt maii notice b Borrower as ~rovjded in para`rap6 14 ~ereof specifyk~g: (l) tbe breacb; (2) tbe actbn
requlr+ed to cnre soc6 breacb; (3) a dats, nw le~a than 30 days from the d~e the aotice i~ maikd to Dorrower, by w6kh sec~
breach mnst be cured; and (4) ti~at fail~rc to care snc6 breach on or before N~ date speciftal i~ the noBce may resdt in
accekratbn oE the weia eecered by this Mort~e~ toreclosure Iry judkial proceedin~ aad sate of ti~e Propertr. 'ILe sotice
shatl furt6er fafara~ Horrower of the rigM to reinstate after sccekration nr+d thc ritht b as~e~rt iu tLe foreclowre procecdjt~
t6e non-existeace oE a default or any other defense of Bon~ower to accekration and foreclo~nre. It the breach is not car~d oe
or before the date specH'ied io t~e notlce, Leeder at Lrnder's option may deci~ere aD of the snms secured Dy this Mwt=a6e to be
immedlately dne aad payabk wit6oot tort6er dsmand and uay forecbse this Mort~n6e iry ~udicid pr~nceedia~. L,eader sba8
be entitkd fo sollect in snc6 proceedla~ s~ erpemses of forecbsurt, ~ecladfag. but not llaaNed to, nasonsbk tltornry's fees,
atuf costs of docnmentary evIdence, ab~tracb ~ iitk rcports.
19. Borrovre~'s Right to Re1n~Ne. Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have any proceedings hegun by Lender to enforce this Mortgage discontinutd at any time
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