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<br /> ' 78-- U02795
<br /> Lender's wriuen 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 disburaed by Lender pursuant to this paragreph 7, with intecut thereon, shall become additional
<br /> (� indebtedness of Borrower aecured by this Mortgage. Unless Borrower 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 in[erest from the
<br /> , i date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of
<br /> i interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> > ipermissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br /> S any action henunder.
<br /> 8. InsNecHon. Lender may make or cause to 6e made reasonable entries upon and inspections of the Property, provided
<br /> i that L.ender shatl give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br /> i interest in the PropeRy.
<br /> r 9. Condemnatiom The proceeds of any award or claim for damages, direct or consequentiat, in connection with any
<br /> condemnation or other taking oE the Property, or part thereof, or for conveyance in licu of condemnation, are heroby assigned
<br /> ° and shall be paid to Lender.
<br /> 7n the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage.
<br /> with the excess, if any, paid to Borrower. In the evem of a partial taking of the Property. unless Borrower and I.ender
<br /> otherwise agree in writing, there shall 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 /> [aking 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, after notice by Lender to Borrower that the condemnor offers to make
<br /> ` an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> mailed, Lender is authorized ro 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 othenvise agree in writing, any such application of proceeds to principal shall not extend
<br /> or postpone the due date of the monthly installments referred ro in paragraphs 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 operate to release, in any manner,
<br /> the liability of the original Borrower and Borrower's successors in interest. Lender shall not be mquired 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 by Lender Not a Waivee Any forbearance by Lender in exercising any right or remedy henunder, or
<br /> otherwise afforded by applicable law, shn1l 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 shatl not be a waiver of LendePs
<br /> right to accelerate the maturity of the indebredness secured by this Mortgage.
<br /> 12. Remedies CmmulaHve_ All remedies provided in this Mortgage are distinct and cumutative to any other right or
<br /> remedy under this Mortgage or afforded by law or equity. and may be exercised concurrently, independently or successively.
<br /> ;i 13. Succasoes and Asslgns Bound; Joint a�d Several i.iab�ity; CapHons. The covenants and agreements herein
<br /> contained shall bind, and the rights hereander 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 shalI be joint and severaL
<br /> �' The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used m
<br /> i' i�terpret or define the provisions hereof.
<br /> j 14. Nod"ce. Except for any notice required under applicable law to be given in another manner, (a) any notice to r"'� �
<br /> Borrower provided for in this Mortgage sha11 be given by mailing such notice by cenified mail addressed to Borrower at
<br /> i the Property Address or at such other address as Borrower may designate by notice to Lender az provided herein, and
<br /> (b) any notice to Lender shall be given by certified mait, return receipt requested, to Lender's address stared herein or to
<br /> such other address as Lender may designate by notice to Horrower as provided herein. Any notice provided for in this
<br /> Mortgage shall be deemed to have been given to Borrower ar i.ender when given in the manner designated herein.
<br /> 15. Uniform Mortgage; Governing Law; Severability. 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 instrvment 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 dause 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 Notc are declared to be severable.
<br /> 16. Borrower's Copy. Horrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of execution or after recordation hereof.
<br /> 1Z Traosfer of the Property; A�umption. If aIl or any part of the Property or an interest therein is sold or transferred
<br /> ' ' by Borrower without Lender's prior written wnsent, excluding (a) the creation of a lien or encumbrance subordinate to
<br /> this Mortgage. (b) the creation of a purchase money securiry interest for household appliances, (c) a transfer by devise.
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<br /> ducent or by operation of Inw upon the death of a joint tenant or (d) the grant of any Ieasehold ioterest of three years or less
<br /> not containing an option to purohase. Lender may, at Lender's option, dedare a1I thc 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 tranafer, 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 inrerest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> shall requut. 1f teader has waived ffie option to accelera[e provided in this paragraph 17, and if Borrowers successor in
<br /> interest has executed a writtrn assumption agreement accepted in writing by Lender. Lender shall release Bortower from all
<br /> obligations uader this Mortgage and the Note.
<br /> If L.ender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with -
<br /> ' paragraph 14 hercof. Such no6ce shall provide a period of not less than 30 days from the date the notice is mailed within
<br /> ; , which Borrower may pay the sirms declared due. If Borrower fails to pay such sums prior to the expiration of such period,
<br /> Zender may, without further notice or demand on Borrowcr, invoke any remedies permitted by paragraph IS hereof.
<br /> ; ; '. Nort-Uxirortns CoverreNrs. Borrower and Lender further covenant and agree as follows: ,
<br /> 18. Acceleration; Remediea. Facept as provtded ta paragrsph 17 hereof, upon BorrowePs breach of any covenant or e
<br /> agreement of Borrower in t6ts Mortgage, induding the co�•enants to psy when due any smnv secured 6y this Morlgage,
<br /> Leoder prior to accelentfoo shall msil noHce to Borrower as provided in paragraph 14 bereof speeifying: (1) t6e brcach: "'-' � ;,r�
<br /> . j l (2) tLe acflon nqoieed to enre aoch breach; (3) a date, not leas than 30 days from the date the noNce is mailed to Borwwer, �4 . ;
<br /> � by �►hich wc6 breach mast be carcd; and (4) that failure to core suc6 breach on or before Ihe date specified in the notice .u�� '
<br /> ( e may result in accekcstion of the sutns securcd by this Mortga�e, forcclosun by judiclal procceding and sale of tde Property. x �
<br /> T6e notiee shall [urt6er in[orm Borrower o[ the rlght to nlaslate after acceleratton and the rtght to assect In the foreclosure
<br /> ' proeeedlnQ t6e nont�cistenee oi a default oi any other defense of Bortower to a¢cek�ation and Eoreclosore_ If the bresch � ` s` �,� .
<br /> r' , � ; is not cored o0 or before tne daRe specifled lu the noNce, Lender at Lemler's option may dectare all of the sams secured by �;; �
<br /> ; ; thk Mort�age to be ImmedLtely dne and payaMe wlthout furlher demand and msy forcclose by judicial proceed(�. Lender
<br /> i shall 6e enBtled to cotlect io aoc6 proceeding. al! expemes of torecloaare, Including, 6ut not Ilmited t0. ca�ts of documeatary " „K e ""
<br /> eHdmce, aMtracfs and title reporfs.
<br /> 19. Bocroee�'s Right to Reinstale. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br /> Borrower shall hsve the righf to have any proceedings begun by Lender ro enforce this Mortgage discontinued at any time
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