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<br /> 78� UU2681
<br /> � Lender's written agreement or applicable law. Bonower shall pay the amount of all mortgage insurance premiums in the
<br /> � manner pCovided undcr paragraph 2 hereof.
<br /> i My amounts disbursed by L.ender pursuant to this paragraph 7, with interest thereon, shall become additional �
<br /> indebted�ess of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br /> amounts shall be payable upon notice from Lender to Borcower requesting payment thereof, and shall bear interest from tbe
<br /> � date of disbursemrnt at the rate payabte from time to time on outstanding principal under the Note unless payment of
<br /> interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> ; permisaible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br /> � any action hereunder.
<br /> ' ? 8. InspecHon. L,ender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br /> ` i' that Lender shali give Borrower notice prior to any such inspection specifying masonabie cause therefor related to I.ender's
<br /> 1 interest in the Property.
<br /> f9. Condemnallon. The proceeds of any 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 L.ender.
<br /> + In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage.
<br /> � with !he excesa, iF any, paid to Borrower. In [he event of a partiaf taking of the Property, uniess Borrower and Lender
<br /> � otherwise agree in writing, there shall be apptied ro the sums secured by this Mortgage such proportion of the proceeds
<br /> j az is equai 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 Properry is abandoned by Borrower, or if, after norice by Lender to Borrower that the condemnor offers to make
<br /> an award or set8e a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> 2` mailed, Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br /> ? Property or to the sums secured by this Mortgage.
<br /> Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br /> or postpone the due date of the monthly instaliments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> such instaliments.
<br /> 10. Borrower Not Relessed, Extension of the time for payment or modiScation of amortization of the sums secured
<br /> by this Mortgage granted by Lender to any successor in interest of Borrower shall no[ operate to release, in any manner,
<br /> the Iiabiliry of the original Borrower and Borrower's successors in interest. 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 the original Borrower and Borrower's successors in interest.
<br /> 11. Forbearance 6y Lender Not a Waiver. Any forbearance by Lender in ezercising any right or remedy hercunder, or
<br /> otherwise afforded by applicable Iaw, shall not be a waiver of or preclude the exercise of any such 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's
<br /> right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br /> 12. Remedles CamulaHve. All romedies provided in this Mortgage are dislinct and cumulative to any other right or
<br /> remedy under this Mortgage or afforded by law or equity, and may be exercised concunently, independently or successively.
<br /> 13. Successors and Assigns Bound; Joint and Several i.iabiHty; CapHons. The covenants and agreements herein
<br /> contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lrnder and Borrower,
<br /> subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and severaL
<br /> The captions and headings of the paragraphs of this Mortgage are for convenience only and arc not to be used to
<br /> interpnt or define the provisions hereof. �
<br /> I4. Notice. 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 certiSed mail addressed to Borrower at
<br /> the Property Address or at such other address as Horrower may designate by no�ice to Lender as provided herein, and
<br /> (b) any notice ro Lender shall be given by certified mail, return receipt requested, to Lender's address stared herein or to
<br /> such other address as Lender may designate by no[ice to Borrower as provided herein. Any notice provided for in this
<br /> Mortgage shall be deemed to have bcen given to Sorrower or I_ender when given in the manner designated herein.
<br /> 15. Uniform Mortgage; Governing Law; Severabtlity. 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 /> neal 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 clause of this Mortgage or the Note conflicts with appticable law, such conflict shall not aHect
<br /> other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br /> end ihe provisions of the Mortgage and the Notc are declared to be severable.
<br /> 16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note a�d of this Mortgage at the time
<br /> of execution or after recordation hereof.
<br /> 17. Transfer of t6e Property; Assumption. If all or any part of ihe Property or an interest thercin is sold or transferred
<br /> by Borrower without Lender's prior written consent, exduding (a) the cmation of a lien or encumbrance subordinate to
<br /> this Mortgage, (b) the creation of a pumhase money security interest for household apptiances, (c) a transfer by deviae.
<br /> • desceni 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 punhase, Lender may, at Leader's option, declare all the sums secured by this Mortgage 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 to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br /> is satisfactory to I.ender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lmder
<br /> shall requat. 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 assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br /> obligations uader this Mortgage and the Note.
<br /> If Lender exercises such option to accelerare. Lender shall mail Borrower notice of acceleration in accordance with
<br /> paragraph 14 hereof. Such notice shall providc a period of not ]ess than 30 days from the date the notice is mailed within
<br /> which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period,
<br /> Lrnder may, withovt further noticc or demand on Borrower, invoke any remedies permitted by paragrsph 18 hereof.
<br /> Nox-UxtFontK Covsrretvrs. Borcower and Lender further covenant and agree es follows: b
<br /> 18. Acceleration; Remedtee. Fscept av provided In paraRraph 17 hereof, upon Borrower's breach of any covenant or
<br /> agreement of Borrower tn this Mortgage, includiug the covenaots to pay w6en due any sums secured by thb Mortgage, � r
<br /> Lender p�ior to acceleration shall mail notice fo Borrower as provided In paragraph 14 hereot specifyt�: (1) tbe bceach; �
<br /> (2) t6e actlon reqoiced to cnrc soch breacb; (3) a date, not lees than 30 days from the date the no8ce Is msiled to Borrower, '� ^ � �
<br /> by w61cL mch breach most be cnrcd; and (4) that failnm to cure such breach oa or beforc the date speci&ed In the notice ' � ; �' , " 0
<br /> may result In acceleratlo� o! the smns aecnred by t6ts MortgaRe, foreclosurc by judiclal prnceed7ng aad sale of the Property. %
<br /> . T6e�noHce i6a11 [uether ipform Borrower of t64�f lo relqstate. after accelerallon and the right to asseR ➢n t6e fomlosun
<br /> proeeedio� the non-eststeoce of a defanit or any o/her defease of Borrower to aecelerstion snd foreclosure. [f the breach �'v y , ;�
<br /> b not cnrcd oa or 6eEorc the date apeciBed in the uotice, Leoder at Lender's optlon msy declare s11 of t6e sums secored by
<br /> thls MorfgaQe to be immedistdy due and payable withont [urlher demand and may foreclose by judicisl proceeding. Lender . {�
<br /> sL�lt be entitled to oollect In wcL proceedL�g a11 expe�es of foreclosare inclo - ' �.: -
<br /> B , ding, bvt not limhed to, costs of docomentary
<br /> evtdence,abstracb and dtle repotb.
<br /> 19� Boirowec's Rie6t to Relmtata Notwithstanding Lender's acccleration of the sums secured by this Mortgage,
<br /> Borroaver shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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