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<br /> �8-' OU1860 �
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<br /> � Lender's written agreement or appGcablt law. Borrower shalt pay the amoum of all mortgage insurance premiums in the
<br /> t manner provided under psragraph 2 heroof.
<br /> � Any amounts disburaed by Lender pursuant to this paragraph 7, with interest thercon, shall become additional
<br /> t indebtedness of Borrower secured by this Mortgage. Unless Bonower and Lrnder agree to other terms of payment, such ;
<br /> � amouats sha11 be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br /> �� date of dtsbunement at the rale paya6le from time to 6me on outstandi�g principal under the Note unless paymrnt of
<br /> interest at such rate would be contrary to applicable law, en which event such amounts shall bear interest at the highest rata
<br /> � permisaible under applicable law. Nothirtg wntained in this paragaph 7 sha11 require Lender to incur any expense or take
<br /> � any action hercunder. ;
<br /> i S. Iospectton. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided i
<br /> that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's P ,
<br /> ' F interest in the Property. s" '
<br /> i9. CondemnaNun. 7'he proceeds of any award or claim for damages, direct or rnnsequential, in connection with any '
<br /> i condemnation or other taking of the Property, or pan thereof, or for conveyance in lieu of condemnation, are hereby assigned ; :.
<br /> { and shall be paid to Lender.
<br /> i In the event of a total taking of the Property, the proceeds shalt be applied to the sums secured by this Mortgage. ? '
<br /> .� with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, uniess Borrower and I.ender �
<br /> otherwise agree in writing, ihera sha11 be applied to the sums secured by this Mor[gage such propartion of ihe proceeds ' `
<br /> � as is equal to that proportion which the amount of the sams secured by this Mortgage immediately prior to the date oE
<br /> ,. � tttking 6ears to the fair market vulue of the Property immediately prior to the datc of taking, with the balance of the proceeds � `
<br /> ' paid to Borrower. k,
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offen to rnaice � '
<br /> ; an award or settle a daim for dama es, Borrower fails to res f�
<br /> � 8 pond to Lender within 30 days after the date such notice is
<br /> mailed, I.ender is authorized to collect and apply the praceeds, at Lender's option, either to restoration or rcpair of the
<br /> ' t Property or to the sums secured by this MortZtage. �
<br /> � Unleas Lender and Borrower otherwise agree in writirtg, any such application of proceeds to princ�pal shall not extend �
<br /> or postpone tfie due date of the monthly installments. referred to in paragraphs 1 and 2 hereof or change the amount of t
<br /> such installments. �
<br /> ' � 10. Borrower Not Released. Extension of the time for payment or modi8cation of amortization of the sums secvred `
<br /> � by this Mortgage gra�ted by Lender to any successor in interest of Borrower shall not operute to release, in any manner.
<br /> the liability of the original Borrower and Borrower's successors in ioterest Lender shall not be rcquired to commence
<br /> , � proceedings against sach successor or refuse to extend time for payment or otherwise modify amortization of the sums ,'
<br /> secured by this Mortgage by mason of any demand made by the original Borrower and Sorrawer's successars in interest. �
<br /> � 11. Fofiearance 6y Lender Not a Wafver. Any forbearance by Lender in exercising aay right or remedy hereundor, or
<br /> , ' "bihe iie"affosded by applicable law, shall not be a waiver of or preclude the exercise of any such right or �emedy. �
<br /> � � � 'q, e procuremmt of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver af Zender's ?
<br /> � � �nghc to�accelerate the maturity of the indebtedness secured by this Mortgage. ;
<br /> I�"ltemedtes Cnmolatl�e. Atl remedies provided in this Mortgage are distinct and cumulative to any other right or ;
<br /> remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently. independendy or successively. i ,
<br /> � 13. Succasors and Assigns Bound; Joint and Several I.iab�7ity; Capdons. The covenants and agreements heroin }
<br /> contained shall bind, and the righu hereunder shall inure to, the respective successors and as.signs of Lender and Borrower,
<br /> a subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower ahall be joint and several. '
<br /> 'Ihe captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to �
<br /> � enterpret or deflne the provisions hereof. s `�
<br /> 14. Notfce. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br /> Borrower provided for in this Mortgage shall be given by mailing such notice by cenified mail addressed to Borrower at a `
<br /> the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and ? '
<br /> � (b) any notice to Lender shal! be given by certified mail, retum receipt requested, to Lender's address stated heroin or to �a
<br /> such other addRss as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br /> � Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. �,
<br /> 15. UnNono Mortgage; Goveming Law; Severability. This form of mortgage combinu uniform covenants for national
<br /> uae and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br /> � ieal property. This Mongage shall be governed by the law of the jurisdiction in which the Property is located. In the •!
<br /> � event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conHict shall not affect ;
<br /> other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br /> � end the provisions of the Mortgage and the Note are declarcd to be severebla '
<br /> 16. BorrowePs Copy. Borcower shall be furnished a conformed copy of the Note and of this Mortgage at the time ?
<br /> of execution or after recordation heroof.
<br /> � 17. Trans[er of the Property; Assumption. 7f all or any part of the Property or an interest thercin is soid or transferred
<br /> by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to
<br /> this Mortgage, (b) the creatio� of a purchase money security interest for household appliances, (c) a transfer by deviae,
<br /> descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of thme years or less
<br /> �• not containing an option to purchaae, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
<br /> immediately due and payabla Lender shall have waived such option to accelerate if, prior to the sale or tranafer, Lertder
<br /> and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br /> is satisfactory ta I.eader and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> shall requrst. If Lender has waived the option .to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> interest has executed a written aastrmption agreement accepted in writing by Lender, Lender shall release Borrower frorti all
<br /> � obligations nnder this Mortgage and the Note.
<br /> If Lender ezercises such option to acceterate, Lender shall mail Borrower noticc of acceleration in accordance with
<br /> paragraph 14 hereof. Such notice shall provide a period of not Ias than 30 days frorn the date the notice is ma�7ed witt�in
<br /> , � which Borrower may pay the sums declared due_ If Borrower fails to pay such sums pnor to the expiration of such period,
<br /> ,� Lrnder may, without farther notice or demand on Borrower, invoke any remedies permitted by paregraph 18 hercof.
<br /> j Nwa-UN�Foau.t CoveHwNrs. Borrower and Lender further covenant and agree u follows:
<br /> j 18. Accek�ation; Remediea Faccept as provlded in paraRraph 17 hereof u
<br /> , pon Borcower's breach of any covensot or
<br /> aereement o[ Borrower tn this Mortgage, Includt� the cov�nantx to pay when due aoy sauu securcd 6y t6ia Mortgage,
<br /> Leoder prior to accehration e6a11 rnail noKce to Borrower as rovided In a �
<br /> , p p ragraph 14 hereof speclfying: (1) t6e brcach;
<br /> ' (2) the actlon requlred to care each bewch; (3) a date, not le� tha� 30 dsys from thc date the nolice Is mailed lo Borrower,
<br /> ; 6y w6ieh met� breac6 mmt be eurcd; and (4) that failure to curc suc6 bresch on or beforc the date specifled in the notice �
<br /> �' may eemlt in acceleration oE tbe au� secured by thls Mortgage, foreclosoro by Judtcid proceedl� and sale oE t6e Property. � ' �
<br /> T6e aotice ahall [ucf6er i�dorm Borrower of the right to rcinslafe after accelendon and the rlght !o aasert in the Poreclosnre I ' j
<br /> � ' pioceeding'the non-existence 'of a de[ault or pny other defense of Borrower to accelerallon and foreclosure. If the breach � ;
<br /> Ie�not eaeed on or bePorc the d�e specl8ed in the noHce, Leoder at I.ender's option may declare a!I of the sums securcd by �
<br /> :� t6is Moet�e to be Immediatdy doe aad payable wlthont further demand and msy forcclose by jodtcial pcoceedivg. Lender f �:��!
<br /> ,,� ahrll bE mlitled to.collect In aacL proceedi� el! e�cpernes ot forcclosare, Inctudtng, but not limited to, costs of documentary " ` ' '
<br /> i ;,ty�
<br /> ,� evldmce,absfracts aod tltle repoefr. � . .
<br /> 19. Sorrover's Ri�6t to Reln�tate. Notwithstnnding Lender's acceleration of the sums secured by ehis Mortgage,
<br /> ' t Borrower ahall have the rigfit to have any proceedings begun by I.ender to enforce this Mortgage discontinued at any time
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