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<br /> Leader•s written agreement or applicable law_ Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> manner provided under paragraph 2 hereof.
<br /> Any amounts disbursed by L.�nder pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> indebtedness of Borrower secured by this Mortgage. Unless Horrower and Lender agree to other terms of payment, such
<br /> amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear inrerest from the �
<br /> date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of
<br /> interest at auch rate would be contrary to applicable law, in which event such amounts shall bea� interest at the highest rate
<br /> permissible under applicable law. Nothing contained in this paragraph 7 shall nquire Lender to incvr any expense or take
<br /> any action hereuader.
<br /> 8• Inspectton. Lender may malce or cause to be made reazonabie entries upon and inspections of the Property, provided
<br /> that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br /> interestin the Property. ,
<br /> 9. CondemnsNon. The proceeds of nny award or claim for damages, direct or consequential, in connection with any
<br /> condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br /> and shall be paid to Lender.
<br /> In the evrnt of a total tnking of the Propeny, the proceeds shatl be applied to the sums secured by this Mor[gage.
<br /> with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br /> oiherwise agree in writing, there shalt be applied to the sums secured by this Mortgage such proportion of the proceeds
<br /> as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br /> taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br /> paid to Borrower.
<br /> If the Property is abandoned by Borrower, or if, afrer notice by Lender to Borrower that the condemnor offero to make `
<br /> an award or settle a daim for damages, Borrower fails to respond ro Lender within 30 days atter the date such notice is
<br /> mailed, Lender is suthoriud to collect and apply the proceeds. at Lender's option, either to restoratio� or repair of t2�e
<br /> Property or to the sums secured by this Mortgage. _;: `
<br /> Unless Lender and Borrower o[herwise agree in writing, any such application of proceeds to principal shall not extend
<br /> or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> such instaltments.
<br /> 10. Borrower Not Released. F,xtension of the time for payment or modification of amortization of the sums secured
<br /> by this Mortgage granted by Lender to any successor in interest of Borrower shall not operete to refease, in any manner.
<br /> the liability of the ariginal Borrower and Borrower's successors in inrerest. Lender shall not be required to commence
<br /> proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br /> secured by this Mortgage by reason of any demand made by [he original Borcower and Borrower's successors in interest
<br /> 17 . Forbearaoce by Lender Not a R'aiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any snch right or remedy.
<br /> The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender'a
<br /> right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br /> 12. Remedtes ComulaNve. All nmedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> remedy under this Mortgage or afforded by law or equicy, and may be exercised concurrently, independently or successively.
<br /> 13. Saccesso�s and A�igns Boond; Joint and Several Liability; Captions. The covenants and agreements herein
<br /> contained shall bind, and the rights henunder shall inure to, the respective successors and assigns of Lender and Borrower.
<br /> subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several.
<br /> The cap[ions and headings of the paragraphs of this Mongage are for convenience only and are not to be used to
<br /> interpret or define the provisions hereof.
<br /> 14. Notice. Paccept for any na6ce required under applicable law ro be given in another manner. (a) any notice to
<br /> Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br /> the Property Addnss or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br /> (b) any notice to Lender shall be given by certified mail, return receipt requested, to Lender's address stared herein or to
<br /> such other addrus as Lender may designate by notice to Borrower as provided herein. Any notice provided for in thia
<br /> Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br /> I5. Uniform Mortgage; Goveming Law; Severabltity. This form of mortgage combines uniform covenants for national
<br /> use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br /> real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br /> event that any provision or ctause of this Mortgage or thc Note conflicts with applicable Iaw, such conflict shall not affect
<br /> ather provisions of this Mortgage or the Note which can be given effect without the conflicting pmvision, and to this
<br /> end the provisions of the Mortgage and the Note are declared to be severabla
<br /> 16. Borrower's Copy. Borrower shall be furnished a wnformed copy of the Note and of this Mortgage at the time
<br /> of execution or after recordation hereof.
<br /> 17. Tnnsfer of the Property; Assa�mptton. If alI or any part of the Property or an inrerest therein is sold or transferred
<br /> by Borrower without Lender•s prior written consent, eacluding (a) the creation of a lien or mcumbrance subordinate to
<br /> this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise.
<br /> descent or by operation of law upon the death of a joint tenant ar (d) the gran[ of any leasehold interest of three years or less
<br /> not containing an option to purchase, Lender may, at Lender's option, dedare all the sums secured by this Mortgage to be
<br /> immediately due and payable. Lender shalt havc waived such option to accelerate if, prior to the sale or transfer, Lender
<br /> and the person to whom the Property is to bc sold or transferred reach agreemmt in writing that the credit of such person
<br /> is satisfactory to Lender and that the iaterest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> shall request. Tf Lrnder has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> interest has executed a written aasumption agreement accepted in writing by Lendeq Lender shall release Borrower from all
<br /> obligations under this Mortgage and the Nota
<br /> If Lender exercises such option to accelerate, Lender shatl mail Borrower notice of acceleration in accordance with
<br /> paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the nodce is maSled within
<br /> which Borrower may pay the sums declared due. If Boaower fails to pay such sums prior to the expiration of such period,
<br /> Lender may, without further notice or demand on Borroweq invoke any remedies permitted by paragraph 18 hereof.
<br /> Now-U�vtFoxM CovexwxTs. Horrower and Lender funher covenant and agrec as follows:
<br /> 18. Acceleratbn; Remediea F�cc�pt ae pmvided in paraRnph 17 hereof, upon Borrower'a breac6 of any covenant or
<br /> aQreement of Borrower ia t6is Mortgage, inclodi� the covenanta to pay when due any sums secured by this Morlgage,
<br /> Lender prlor to accekralloo ahall mail notice to Borrower as provided in paragraph 14 hereof speclfying: (1) the breach:
<br /> (2) t6e actton rcqoired to cure such breach; (3) a dste, not less than 30 days from the date the noHce b mailed to Borrower,
<br /> by �►hich acA breach m�t be cured; and (4) that faaun to curc such breach on or before the date spec(Hed in the notice �_ �";
<br /> may reault lo rcceleratlon o[ t6e sums sacured by thta Mortgaqe, Poreclosurc 6y jodlcial proceedi� and sale of the Property.
<br /> The notice ahap fuRher Inform Borrower of the right to rclnstate after acceteration and the right to asaert in the forcelosnre � , �; . ,�+ .,;� '
<br /> proceedi� the non-existence ot a de[ault or, aay otber defeose of Borrowv to accelerodon and forccloeure. It the 6resc6 �
<br /> h not cnrtd on or before the d�ite apeclBed in the noHce, Lender at LendePs option may declsre all of tbe aums secund by °
<br /> this�Mortpge to be immedtatdy doe and payahle without turther demaod and may foreclooe by jndicial proceedt�. Lender f �t '
<br /> ■halt 6e mflfled to coOcet In mch proceedlug all expea9es of forcclosurc, I�luding, bot not limtted to, coels ot docomentary ` � �"';i
<br /> evldency sLetracls and tltle repocts. - '„e. -
<br /> 19. -Eorfow�ee's Rt`ht to Reimtatc Notwithstanding L.ender's accderation of the sums secured 6y this Mongege, '�' ' " . -
<br /> Horzower shalthave tlfe rlg6t to have arry praceediogs begun by Lender to rnforce this Mortgage discontinued at aey time
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