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<br /> �$- U02795
<br /> Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> manner provided under paragrapl� 2 heroof.
<br /> Any amounts disbursed by Lender pursuant to this paragraph 7, wiffi intemst thereon, shall become additional
<br /> ' indebtedness of Borrower secured by this Mortgage. Unless Borcower 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 interest from the
<br /> � ' date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of
<br /> i interest at auch rate would 6e contrery to applicable law, in which evcnt such amounts shall bear interest at the highest rate
<br /> Spermissible under applicable law. Nothing contained in this paragraph 7 shall requin Lender to incur any expense or take
<br /> # any action hercunder.
<br /> 8. InspecHon. Lender may make or cause to be made reasonable entries upon and inspections of the Propeny, provided
<br /> { that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br /> ' interest in the Property.
<br /> ' 9. Condemnatbn. '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 heroby azsigned
<br /> ' t and shalt be paid to Lender.
<br /> In the event of a total taking of the Properry, the proceeds shall be applied to the sums secured by this Mortgage.
<br /> with the excess, if any, paid to Borrowe❑ In the event of a partial taking of the Property, unless Borrower and Lender
<br /> otherwise agree in writing, there shati be applied to the sums secured by this Mortgage such proportion of t6e proceeds
<br /> f as is equal to that proportion whieh the amount of the sums secured by this Mortgage immediately prior to the date of
<br /> ; taking bears to the fair market vatue of the Property immediately prior to the date of taking, with the balance of the proceeds
<br /> ; paid to Borrowea
<br /> If the Property is abandoned by Borrower. or if, after notice by Lender to Borrower that the condemnor offera to make
<br /> an award or setNe a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> mailed, Lender is authoriud to coilect and appty the proceeds, at Lender's option, either ro restoration or repair of the
<br /> Properry or to the sums secured by this Mortgaga
<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 installments referred to in paragrephs 1 and 2 hereof or change the amount of
<br /> such installments.
<br /> 10. Borrower Not Released. Extension 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 opernte to release, in any manner,
<br /> the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br /> proceedings against such successor or rofuse to eztend 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 Borrowers successors in interest_
<br /> 11. Forbearanee 6y Lender Not a R'afver. Any forbearance by Lender in exercising any right or remedy hercunder, or
<br /> otheiwise afforded by appiicable law, 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 LendePs
<br /> right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br /> 12. Remedies Camnlative. All nmedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> remedy under this Mortgagc or af[orded by law or equity, and may be exercised concurrently, independently or successively_
<br /> 13. Successors and Assigns Baund; Joint and Several i.fability; CapBons. The covenants and agreements herein
<br /> contained shall bind, and the rights hereunder 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 Horrower shall be joint and severaL
<br /> i' The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br /> i interpnt or define the provisions hereoE �
<br /> �' 14. NoHce. Except for any notice required under app)icable law to be given in another manner, (a) any notice to .�,y,
<br /> Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at +
<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 shall be given by certiSed mail, return receipt requested, to Lender's address stated herein or to
<br /> such other address as Lender may designate by notice [o 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. UnNorm Modgagr, Governing Law; Severe6itity. '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 instrumrnt covering
<br /> real 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 conflict shall not aPfeM
<br /> other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br /> �; end the pravisions of the Mortgage and the Noto are declared to be severable.
<br /> � 16. Borro�ver's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of execution or after recordation hereof.
<br /> " 17. Transfer of the Property; Assumption. If all or any part of the Property or an interest therein is sold or transferred
<br /> by Borrower without Lender's prior written consen4 exduding (a) the croation of a lien or mcumbrahce subordinate to
<br /> this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise,
<br /> descmt or by operation of law upon the death of a joint tenant or (d) the grant of any leauhold interest of three years or less
<br /> not containing an option to purchase, Lender may, at Lender'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 Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> shall request. If Leoder has waived the option to acceleratc provided in this paragraph 17, and if Borcowers successor in
<br /> interest has executed a writtrn assumption agreement accepted in writing by Lender, L.ender shall release Borrower from all
<br /> ; obligations under this Mortgage and the Note.
<br /> � ; ff Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br /> ,:� paragraph 14 henof. Such notice shall providc a period of not less than 30 days from the date the notice is mailed within
<br /> which Horrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period,
<br /> I.ender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof_
<br /> -a. Norr-Utviportuf Coverrerrrs, Borrower and Lender funher covenant and agrce as follows:
<br /> : 18. Accelerstion; Remediea Ezcept as provided in paragreph 17 hereof, upon Sorrower's breach oE any covenant or i
<br /> � � agreement oE Borrower ia this Mortgage, including the covenanls ro pay when due aoy sums secared by t6is Mortgage,
<br /> ' Lender prlar to accekntlon sLal! mail noNce to Borrower as provided in paragraph 14 hereof specityieg: (1) t6e brcacb;
<br /> ' i � (2) t6e actlon reqdred to carc snch breach; (3) a date, not leas than 30 days from the date the notice is mailed to Borroweq "' °_" '��
<br /> � 6y which such breach must 6r curcd� and (4) that failurc to cure such breach ov or beforc the date speci8ed in the �8ce � y
<br /> �," may result in acceleradon of tbe aums secnrcd by ehB Mortgaqe, forectosure by jad[dsl proceedlog and sale of trie Property. � j
<br /> � , The nodce phalt farther InEorm Borrawer of the right to rcinstate after accelerallon and the right to asseR ia t6e forecloaure ,
<br /> proceediog the oon-e�ste�e of s default or any other defeme of Borrower to acceleratlon and foreclosurc. Il the bresch '; '
<br /> le nol cnred on o( bNore the date spccified in the noHce, Le�er at Lemder's option may declsre sll of the soms secured by � - . t
<br /> t6is Mo�iQage to 6e immediately dae and paya6le without furlher demand aod may foreclose by judicial proceeding. I,ender ' ' �
<br /> � ' sLall bt enqtled to coDeM in such peoceeding al! e:pe�nes of forcclosure, iocluding, but not I1mHed to, costs of documentary ""'b
<br /> � , evhlence, a6stracb sod HUe reportr. , � ._:�.j ,
<br /> `" 19_ ' Bortowet'e RiQ6t W Relnatate. Notwiths[anding L.ender's acceleration of the sums secured by this Mortgage.
<br /> i Borrower ahall have t5e dght to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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