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<br /> � �s-� U01820 �
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<br /> i Lender's written agreernent or applicable taw. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> ; manner provided uader paragraph 2 hereof.
<br /> ,3 i Anp amounts disbursed by Lender parsuant to thia paragraph 7, with interest thereon, shatl become additiona]
<br /> indebtedness of Bortower securcd by t8is Mortgage. Urtless Borrower and Lender agree to other terms of payment, such
<br /> amounts shall be payable upon notice from Lender to Borrower reques[ing payment thereof, and sha11 bear interest from the
<br /> date of d'iabursemmt at the rate payable from time to time on outstanding principal under the Note untess paymont of
<br /> interest at auch rate would be concrary to appliea6le {aw, in which event such amounts shall bear interest at the highest rate �'
<br /> perrnia�IWe under appticable law. Nothing contained in this paragaph 7 shall require Lender to incur any eapense or take � ,
<br /> aaq action hereunder. �.
<br /> � 8• Lospectlom Lender may make or cause to be made ressonabie entries upon and inspections of the PropeRy, provided
<br /> that I.ender shall give Horrower notice prior to any such inspection specifying reasonable cauxe therefor related to Lender's
<br /> , interest ia the Property. .
<br /> ' � 9. Condemnallon. The proceeds of any award or elaim for darnages, direct ar consequential, in connection with any
<br /> � condemnation or other taking of the Property, or part thereof, or for conveyanee in lieu of condemnation, nre hercby assigned '
<br /> and shall be paid to Lender.
<br /> `� In the event af a total taking of the Property, the proceeds shall be applied to the sums secatred by this Mortgaga
<br /> j with the ezccss, iE any, paid to Borrowec Tn the event of a partial taking of the Property. unless Borrower and Lender
<br /> - y othcrwise sgree in writing, there shatl be applied to the sums secured by this Mortgnge such proportion of the proceeds
<br /> � ss is equal to that proponion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br /> j taking bears to the fair markef value of the Property immediately prior ro the date of taking, with the 6atance of the proceeds '
<br /> � paid to Borrower. i
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borrow+er that the condemnor of[ers to make
<br /> g an award or settle a claim for damages, Borrower faiis to respond to Lender within 30 days after the dute such notice is
<br /> t mailed, Lender is authoriud to colkct and apply the proceeds, at L.ender's option, either to resforation or repair of the
<br /> Property or ro the sums secured by this Mortgage.
<br /> Unless Lender and Borrower otherwiu agree in writing, any such application of proceeds to principal shali not extend `
<br /> � or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of ?
<br /> � such instatiments.
<br /> 10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secund
<br /> by this Mortgage granted by Lender to any successor in interest of Borcower shall not operate to release, in any manner.
<br /> � the liability of the original Borrower and Borrower's successors in interest. Lender shall not be mquired ro commence �
<br /> proceedings against such successor or refuse to extend time for payment or otherwise modify amonization of thc suma
<br /> � secured by this Mortgage by reason of any demand made by the original Borrower and Borrower s successors in interest.
<br /> f 11. Forbearanee by Lender Not a Walver. Any forbearancc by Lcader in exercising any right or remedy hereunder, or t '
<br /> ;a orherwise. afforded by applicable law, shall not be a wniver of or preclude the exercise of nny such right or remedy. ;-
<br /> Thdproturement of insurance or the payment of taxes or other Iiens or charges by Lender shall not be a waiver of Lender's
<br /> � right .to.acoelerate the maturity of the indebtedness secured by this Mortgage.
<br /> ]Z Remedks CamaLtive. All remedies provided in this Mortgage aro distinct and cumulative to any other right ar
<br /> rcmedy under this Morgage or afforded by law or equity, and may be exercised concurmntly, independently or successively. �
<br /> 13. Snccess�rs and i
<br /> Asvlgns Bound; Joint and Several i,iabiliry; CapHons. The covenants and agreements herein
<br /> contained shall bind, and the righu herounder 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 shatl be joint and several.
<br /> The captiaas and headings of the paragraphs of this Mortgage are for convenience only and are not ta be used to
<br /> interprot or define the provis9ons henof.
<br /> 14. NoNce. ExcepC for any notice required under applicable law to be given in another manner, (a) any notice to r ,;i-
<br /> Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addrossed to Borrower at
<br /> the Properry Address or at such other address as Borrower may designate by notice to Lender as provided herein, and ;
<br /> � (b) any notGce to Lender shall be given by certifled mail, retum receipt requested. to Lender•s address stated herein or to
<br /> such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br /> Mortgage shall be dcemed to have been given to Borrower or Lender when given in the manner designated herein.
<br /> 15. Ualform Mortgage; Goveming Law; Severabpity. This form of mortgage combinea uniform covenanu for national
<br /> use and noo-uniform covenants with limited variatio�s by jurisdiction to constitute a uniform security instrument covering
<br /> n� P�aP«'�Y. 7'his Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the `
<br /> evmt that any provision or clause of this Mortgage or thc Note conHicts with applicable law, such conflict shall not affect '-
<br /> pther provisions of this Mortgage or the Note which can be given efIect without the conflicting provision, and to this
<br /> end the provisiona of the Mortgage and the Note are declared to be severabla
<br /> 16. Borrower+s Copy, gorrow,�r shall be furnished a conformed copy of the Note and of this MoRgage at the time
<br /> of execution or afler ncordadon hereof.
<br /> 17. Trarofer of the Property; Aysomptlon_ If all or any part of the Property or an interest thercin is sold or transferrcd
<br /> by Borrower without Lender's prior written consent, ezcluding (a) the creation of a lien or encumbrance subordinate to
<br /> this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise,
<br /> daceM or by operation of law upon the death of a joint tenant or (d) the grant 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 MoRgage to be
<br /> immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br /> and the person ro whom the Property is to be sold or transferred reach agreemrnt in writing that the credit of such person
<br /> is aatisfactory to Lender and that the in[erest payable on the sums secured by this Mortgage sha11 be at such rate as Lender
<br /> shall requesL If Lrnder has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> interut has executed a written assumption agreement accepted in writing by Lender, Lender sha11 release Borrower from all
<br /> obligallons under this Mortgage and the Note.
<br /> If Lender exerciscs such option to accelerate, Lender shall mail Borrower notice of acceleration in accordancc with
<br /> paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
<br /> which Botrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period,
<br /> Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br /> NoN-Uiv�rortat Covsxenrrs. Horrower and Lender further covenant and agree as follows :
<br /> 18. Ac¢ekrallon; Remedies. F�ccept as provided in para�rrph 17 hercof, upon BorrowePs 6reac6 of aay covenant or
<br /> agreemest oE Bocrovrer in thls Mortgage, inclnding the covenants fo pay when dne aoy sums aecured by thIe Mortgagq }
<br /> Lender pclor to accelentlon sha1� mail notice �o Borrower as provided in psragnph 14 hereof specifying: (1) the 6reach;
<br /> (Z) the aetioo �eqalred to cure auch brcaeh; (3) a date, not less than 30 days from the date the notice is mailed to Borrower, ,.��- -'
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<br /> ' 6y w6ich encL brqc6 maet 6e carcd; aod (4) t6at failarc to cure such breach on or 6efore the date apecified In the notice � �="" -' ' ' �
<br /> may result In accderaKon of tLe sums xcured by this Mortgaqe, forccloanre by jadlcFal procecdlug and sale ot the Property.
<br /> The notiee s6aU [mther iatorm Borrower uE t6e rlght to rclnstate after acceleration aad the right to assert ia the forcclosurc i �j
<br /> proceedtuQ fbe non-acietence of a ddault or any other defe�me of Borro�ver to accekratlon aod foreclosurG If the breach w;
<br /> Is not co�d on or beforc the dde � w'' :�
<br /> tBh•M W 6e liamediat doe�and� � tae noNce, Lender at Lemier's option may declare alI of tLe wms secured 6y ?,. .
<br /> �i� dY payaWc wlthout furlher demsnd and may forectose 6y jadlcial proceediig. Lender
<br /> s6a➢ be mdO�d to colleef ln soch' proceeding all expeases of forcdosurc, including, bnt not Iimlted to, costs of documentery �; ^� , : �
<br /> evldeoce� abstracls and 8tle roporlw '; �
<br /> 19. Eorrowee's Ri`ht to ReimAate. Notwithatanding L,ender's acceleration of tbe sums secured by this Mortgage, ^`� �- •'
<br /> Bo[iOwei shall have the cight to have any Proceedings begun by I.ender to enforce this Mortgage discontinued at any time
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