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<br /> Lendcr's written ugreement or applicablc law. Borrowcr shnll pny thc amount of all mortgagc insurance prcmiums in thc
<br /> menncr providcd undcr paragrnph 2 hereof.
<br /> Any amounts disbursed by Lender pursuant lo this paragraph 7, with intcrcst thcrcon, shall bccome additionat
<br /> indebtcdncss of Borrower ucured by this Mortgagc. Unless Borrower and Lcnder agrec to othcr tertns of paymcnt, such
<br /> I amounts shall bc payable upon notice from Lendcr to Borcowcr rcquesting payment thereof, nnd shnll bcar interest from the
<br /> datc of disburscmcnt at the rate paynblc from timc to timc on outstanding principal under thc Note unless payment of
<br /> `• interest nt such rate would be contrary to applicabic Inw, in which event such amounts shall bear interest at thc highest ratc
<br /> � pertnissiblc under applicable law. Nothing contained in this pnragraph 7 shall require Lender to incur any eapense or tnke ,
<br /> any action hcrcunder.
<br /> : 8. IAspectton. Lender muy mnkc or cause to bc madc rcasonable entrics upon and inspcctions of the Properly, provided
<br /> that Lender shall give Borrower notice prior to any such inspection spccifying rcasonable cause therefor rclated to Lender's
<br /> ' interest in the Property.
<br /> 9. CondemnaHon. 'ihc procecds oF any award or claim for damages, dircct or consequcntial, in connection with any
<br /> condemnation or othcr taking of the Property, or part thcrcof, or for convcyancc in licu of condemnation, arc hcre6y asxigned
<br /> and shall bc paid to Lendcr.
<br /> In thc event of a total taking of thc Property, thc procceds shall be applicd to the sums ucurcd by this Mortgage,
<br /> with thc cxccu, i( any, paid to Borrowcr. In the evcnt of a partial taking of thc Property, unlcss Borrower and Lender
<br /> othcrwise agrec in writing, there shall be npplicd ro thc sums secumd by this Mortgagc such proportion o( thc proceeds
<br /> as is cqual to thal proportion which the amount of thc sums secured by this Mortgagc immcdiately prior to thc date of
<br /> j� taking bears to thc feir market valac of the Properry immediatcly prior to thc datc of taking, with Ihe balancc of thc procecds
<br /> pnid to Borrower.
<br /> If thc Property is abandoned by Borrower, or if, aFter noticc by Lender to Borrowcr that the condemnor oRcrs to make
<br /> an award ar settle a claim for damnges, Horrower fails to res�nd to Lender within 30 days atter ihe date such noticc is
<br /> mailed, Lendcr is authorized ro collect and apply the procceds. at Lender's option, either to restoration or repair of the
<br /> Property or to thc sums secured by Ihis Mortgagc.
<br /> Unless Lender and Borrower othenvise agrec in writing, any such application of procecds to principal shall not exlend
<br /> or postpone thc duc datc of thc monlhly installmcnts referrcd to in paragraphs 1 and 2 hercof or change thc amount of
<br /> such installments.
<br /> ]0. Borrower Not Releused. Extension of the time for payment or modification of amortization of ihe sums secured
<br /> by ihis Morlgage granted by Lender to any successor in intcrest of Borrower shall not operatc to release, in any manner,
<br /> the liabilily of the ariginal Borrower and Borrower's successors in interaL Lender shall not bc requircd to commence
<br /> � proccedings against such successor or refuse to exlend time for payment or othenvise modify amortization of the aums
<br /> ' : sccured by this Morlgagc by reason of any dcmand madc by thc original Borrower and Borrower's successors in interest.
<br /> 11 . Forbearance by Lender Not u Wah•er. Any forbearancc by Lender in excrcising any right or remcdy hercundcr, or
<br /> otherwisc aRorded by applicable law, shall not bc a waiver of or prccludc the excrcisc of �ny such right or remedy.
<br /> The procurement of insurance ar thc paymcnt of taxes or othcr licns or charges by Lcnder shall not be a waiver of Lender's
<br /> right to accelcrate ihe mnturil}� of the indebtcdncss secured by this rlortgage.
<br /> 12. Remed(es Cumulnfive. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> � remedy under this Mortgagc or atfordcd by law or equity, and may bc excrciscd concurrendy, independently or successively.
<br /> � 13. Successors and Assigns Bound; 7oint nnd Several i.iabiliry; Captlons. The covenants and agreements herein �I
<br /> - contained shall bind, and thc rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower, V
<br /> � � subject to thc provisions of paragraph 17 hcrcoL All covenants and agreemcnts of Borrower shall be joint and severaL � '
<br /> 'fhe captions and headings of the paragraphs of this Mortgagc arc for convenicnce only and are not to be used to �
<br /> � intcrpret or definc thc provisions hcrcof.
<br /> � 14. NaHce. Except for any notice rcquired under applicable law ro be given in another mannec (a) any notice to Q
<br /> � ' 8orrowcr rovided for in Ihis Mort a c shall bc Q�
<br /> � P B 8 given by mailing such noticc by ccrtified mail addressed to Borrow•cr at
<br /> iz ihe Properly Address or at such other address as Horrower may designate by notice to Lender as provided herein, and �
<br /> � (b) any notice ro Lender shall be given by certified mail, retum receipt requested, lo Lender's adJress stated herein or to �
<br /> .� such other address as Lender may dcsignatc by noticc to Borrower as provided hcrcin. Any notice provided for in this �
<br /> ; Mortgage shall bc deemed to havc becn given ro Dorrowcr or Lender when given in the manncr designated hcrein.
<br /> 15. Unitorm Modgage; Coverning Lnw; Sererobflfty. 'Tliis form of mortgage combines uniform covenants for national
<br /> use and non-unifortn covenants with limitcd variations by jurisdiction to constitutc a uniform security instrument covcring
<br /> rcal property. This Mortgage shall bc govcrncd hy thc law of ihe jurisdiction in which the Property is locatcd. in the
<br /> event ihat any provision or dause of ihis Mortgage or the Note conflicts with applicable law, such conflict shall not afTect
<br /> other provisions of Ihis Mortgage or the Note which can be given effect without the con0icting provision, nnd to this
<br /> cnd Ihc provisions of thc Mortgagc and the Notc are declared to bc scvcrablc.
<br /> 16. Borcower's Copy. Borrowcr shall be furnished a conformed copy of thc Notc and of this Mortgagc at thc timc
<br /> of exccution or after recordation hereof.
<br /> 17. Tronsfer of fhe Propetty; Assumption. it nll or any part ot the Property or an interest therein is sold or trans(erred
<br /> by Borrower without Lendcr s prior wriucn consent, ezcluding (a) the crcation of a lien or encumbrancc subordinate to
<br /> this Mortgage, (b) the crcation of a purchase money securiry interest tor houschold appliances, (c) a trans(cr by devise,
<br /> desccnt or by operation of law upon thc dcath of a joint tcnant or (d) thc grnnt of any Icasehold interest of three ycars or Icss �
<br /> not containing an option to purchnsc, Lcnder may, at I.endcr's option, dcclarc all thc sums sccured by this Mortgngc to be
<br /> immediately due and payable. Lendcr shall havc waived such option to acccicratc if, prior to thc salc or trnnsfer, Lendcr �
<br /> and the person to whom the Property is to be sold or transferred rcach agreement in writing that the credit oF such person
<br /> is satisfuctory to Lender and that the inlerest pnyable on Ihc sums secured by this Mortgagc shall bc ut such rnte as Lender
<br /> shall rcqucst. If Lendcr has waived thc option to accelcratc providcd in this paragraph 17, and if IIorrower's successor in
<br /> interest has ezecuted a wrilten assumption agrecment ncccpted in writing by Lendcr, Lendcr shull rcleasc Borrower from all
<br /> obligations undcr this Mortgagc and the Note.
<br /> If Lender cxcrciscs such aplion to acccicrate, Lcndcr shall mail Borrowcr noticc of accelcration in accordancc with
<br /> pnragraph 14 hereof. Such notice shall providc a period of not less than 30 days from thc date the notice is mailed within
<br /> which Borrower may pay the sums declared duc. If Borrower (ails to pay such sums prior to ihe expiration of such period.
<br /> Lcndcr may, wilhout further noticc or dcmnnd on Borrowcr, invokc any remcdics permitted by paragraph 18 hcreof.
<br /> Nort-Ux�FortM CovaNeNTs. Borrowcr and Lender furthcr covenant and agree as follows:
<br /> 18. Aecelerotton; Remedies. Fscepl as provlded In pnra�raph 17 hereuf, upon Borrower's 6reach of any corenant or �
<br /> agreement of Barrower In Ihis htodgage, Includ(ng Ihe covenanls lo pny when due nny sums secured by Ihis Mortgage, ^. i �
<br /> Lender pdor to acttleration shall mail notice to Borrower as pro� ided in parogrnph 14 hereof specffying: (1) the breach; -` '
<br /> (2) the acUon required to curc such breach; (3) a dale, not less Ihan 30 days from Ihe date Ihe noflce Ls malled fo Borrower, ^ � �
<br /> by whlch such 6reach musf 6e curcd; and (d) Ihat failure lo cure such breach on or beFore the dnte specified in Ihe notice �� ? :�� �
<br /> may resulf in acceleratton of the sums securcd by Ihis Dtorfgage, foreclosure by judiclal proceeding nnd sale of the Propedy. I � �
<br /> The nolice ahall furtha inform Borrower of the d�ht lo rc(nstale afler accelereUon nnd the righl fo asserl in the foreclosure ---� �
<br /> proceeding the non-exisleoce of a default or eny other defense ot Borrower lo accelernlion and forcclosure. If the 6reach n '
<br /> (s not cared on or betorc Ihe date specifled in Ihe notice, Lender at I.ender's optiom m�y declure all of the sums securcd by
<br /> IhLa Modgage to be Immediafely due and payable wfihout turlher demand and may forcclose by judfcial proceeding. I,ender �
<br /> s6a11 be entilled ta collect tn such proceeding all e:penses ot foreclosure, including, but not limited to, cosls of documentary
<br /> evidence, abstracla and tllle reports. -
<br /> 19. Bortower's Rig6t lo Reinslale. Notwithstanding Lender's accclerntion of the sums secured by this Morlgage,
<br />� Borrower shall have the dght to have any procecdings begun by Lender to enforce this Mortgage discontinued at any time �
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