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<br /> I.ender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> manner pfovided under paragraph 2 hereof.
<br /> Any amounts disbursed by Le�der pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> indebtednus 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 Borrower requesting payment thereof, and shall bear intcrest from the
<br /> date of disbursement at the rate payable from time to time on outstanding principal under the Notc unless payment of
<br /> interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at thc highest rate
<br /> permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br /> ; any action hereundv.
<br /> 8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, 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. Condemnatton. 'The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> condemnation or other taking of the Propeny, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br /> and shall be paid to Lender.
<br /> In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage.
<br /> wi[h the excess, if any, paid to Borrowec In the event of a partiai taking of the Properry, uniess Borrower and Lender
<br /> otherwise agree in writing, there shall be apptied to the sums secured by this Mortgage such proponion of the proceeds
<br /> as is equal io fhat proportion which the amount of the sums secured by this Mortgage immediatety 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 /> 7f the Property is abandoned by Horrower, or if, after notice by Lender to Borrower that the condemnor oHers 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 authoriud to collect and apply the proceeds, at Lender's option, either to restoration or ropair 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 installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> such installments.
<br /> � 10. Borrower Not Reteased. 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 shalt not operate to release, in any manner,
<br /> thc liabiliry of the original Borrower and Borrower's successors in interest. Lender sha11 nrn 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 Borrowers successors in interest.
<br /> - 11. Forbearance 6y Lender Not a Wsiver. Any forbearancc by Lender in exercising any right or remedy hereunder, or
<br /> , ; otherwise afforded by applicable law, shalt not be a waiver of or preclude the exercise of any such right or remedy.
<br /> The procurement of insurance or the oavment of taxea nr nther lienc nr rhar�ee hy T qnr�rr cha11 nnr ho a waqv.r .,f T .n.�ir.•a .
<br /> right to accelerate the maturity of the indebtedness �ecured by this Mortgage.
<br /> : 9 ]2. Remedies CumulaNve. All remedies provided in this Mortgage are distinct and cumulative to any olher right or
<br /> ' remedy under this Mortgage or afforded by law or equity, and may be exercised concurrentty, independently or successively.
<br /> 13. Socceasors and Assigns Bound; Joint and Several [,iabitity; CapHons. The coveaants 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 Borrower shall bc joint and several.
<br /> + The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br /> interpret or define the provisions hercof.
<br /> '. h 14. 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 certified mail addressed to Borrower at
<br /> , { the Property Addross 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 certified mail, retum receipt requested, to Lender's address stated herein or to
<br /> � such other addrcss 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 or Lender when given in the manner designated herein.
<br /> � 15. Uniform Mortgage; Goveming Law: Severability. This form of mortgage combines uniform covmancs for national
<br /> use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument 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 clause of this Mortgage or [he Note conflicts with applicable taw, such conflict shall not affect
<br /> j other provisions of this Mortgage or the Note which can be given effect without the cooflicting provision, and to this
<br /> - � end the provisions of the Mortgage and the Notc are declared to be severable.
<br /> t 16. Borrowe�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 /> i17. Transfer of the Property; Assumptton. If alt or any pact of the Property or an interest therein is sold or transferred
<br /> by Sorrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to
<br /> � this Mortgage, (b) the creation of a purchaze money security interest for househotd appliances, (c) a transfer by devise.
<br /> E descent 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, declare all the sums secured by this Mortgage to be
<br /> immediately due and payable. Leader shalt have waived such option to accelecate if, prior to the sale or transfer, Lender
<br /> � and the person ro whom the Property is to be sotd 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 Lender
<br />� ; shall request. If Lender has waived the option to accelerete provided in this paragraph 17, and if Borrower's successor in
<br />� i interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br />` S obligations under this Mortgage and the Note.
<br />[ � If Lender exercises such option to accderate, Lender shall mail Borrower noticc of acceleration in accordance 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 /> E 1 which Borrower mny pay the sums declared due. If Borrower fails ro pay such sums prior to the expiration of such period.
<br /> r ; Lender may, withou! fur[her notice or demand on Borrower. invoke any remedies permitted by paragraph IS hereof.
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<br />� ' Nota-UrrtPortnt CovEtvwwrs. Borrowcr and Lender further covenant and agree as fo((ows :
<br />? `j 1S. Acceleratioo; Remedies. Fscept as provided in paragnph 17 hereof, upon Borrower's 6reach of any coveoaat or
<br /> y':( agmmeM of Borrower in this Mortgagq includ(ng the covenants to pay when due any snms secarcd by this MorfgaAe,
<br />,<[# Lender pclor to accelerallon s6a11 mail notice to Borrower as provided in para�;raph 14 hereof apecifying: (1) 16e breacb;
<br />..1S (2) the action rcqoired to care such brcach; (3) a date, not leas than 30 days from the date the notice Is mailed to Borrower, • =
<br /> � � . by wWch sach brcach mnst be curcd; apd (4) that fa7ure to curc such breach on or 6eforc the date specl8ed in lhe r.oNce
<br /> may reeuN In acceleratlon of the su�re secured by this Mort�e, foreclosure by judicial proceeding and sale of t6e Property. �
<br />' � 1Le notice shall fo�ther inform Borrower of the rig6t to reinslate aHer acceleration and the right to assert in the forcclosure
<br /> peoceeding the non-�clstence o[ a default or �y ofher defense of Borrower to acceleretion and foreclosure. If the brcach
<br /> ti� is not cured on or before t6r date apeci8ed In the notice, Leadv at Lender's optioa may declare all of the sums secured by
<br />,ri th6 Mort�aee to be immediately dne and pays6le without further demand aad may forectase by judicial proceeding. Lender
<br />• +, aLall be mtitted to colleM In such proceedt� sll expe�es of foreclosurc, inclodtug, but not limlted to, cosls of docamentary
<br /> evidmce, abstrscts and dUc reports.
<br /> � 19. Borrm►er's RIa6t to ReimRafe. Notwithstanding L,ender's acceleration of the sums secured by this Mortgage.
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<br /> Borrowe[ shall have the right to have any proceedings begun by Lender to enfotce this Mortgage discontinued at any time
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