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<br /> 78� UU3050
<br /> Leader's written agrcement or applicable law. Borcower 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 paragraph 7, with interest thereon, shall become additional
<br /> ! indebtedness of Borrower secured by this Mortgage. Unless Horrower 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 /> interest at such rate would be conuary to applicable law. in which event such amounts shall bear interest at the 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 hereundea
<br /> 8. Inspectioo. Lender may make or cause to be made reasonable entries upon and inspeMions 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. 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 hereby assigned
<br /> and shall be paid to Lender.
<br /> In the event of a total taking of the Property, the proceeds shatl be applied to the sums secured by this Mortgage.
<br /> - with the excess, if nny, paid to Sorrower. In ihe event of a partial taking of [hc Property, unicss 8ortower and Lender �
<br /> otherwise agree in writing, there shall be applied ro 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 /> . taking bears to the fair market value of thc 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 Borroweq or if, after notice by Lender to Borrower that the condemnor offers to make i
<br /> an award or setHe a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> 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 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 paragraphs 1 and 2 hereof or change the amou�t of
<br /> such installments.
<br /> 10. Borrower Not Released. Exrension of the time for paymcnt 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 liabiliry of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br /> procecdings against such successor or refuse to eztend time for payment or otherwise modify amonization 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 /> Il. Forbesrence by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> otherwisr afforded by applicable 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 Lender's
<br /> right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br /> 12. Remedies CnmulaHve. All 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, independently or successively. �
<br /> 13. Succasors and .4salgos Bound; Joint and Several Liability; CapBons. The covenants and agreements herein
<br /> 1 contained shall bind, and the rights hereunder shalt inure to, the respective successors and assigns of Lender and Borrower,
<br /> subject to the provisions of pazagraph 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 /> interpret or define the provisions hereof.
<br /> 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 [his 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 certified mail, retum receipt requested, to Lender s address stated herein or to
<br /> such other addrcss as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this a'�., .,
<br /> Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br /> ]5. Uniform Mort�age; Governing Law; Severobllity. This form of mortgage combines uniform covenants for national
<br /> use and non-uniform covenants with limited variations by jurisdiction ro constitute a uniform security instrument covering
<br /> i rcal property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is Iocated. In the
<br /> ' event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflic[ shall not affeM
<br /> other provisions of this Mortgage or the Note which can be given effect without the wnHicting provision, and to this
<br /> ; end the provisions of the' Mortgage and the Notc arc 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 /> i 17. Tnnsfer of the Property; Assumpdon. If all or any part of the Property or an interest therein is sold or transfened
<br /> by Borrower without I.ender's prior written consent, exduding (a) the creation of a lien or encumbrance subordinate m
<br /> this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a tra�sfer by devise.
<br /> descent or by operation of law upon the death of a joint tenant or (d) the grant of any lcasehold interest of thrce ycars 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. Lendcr 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 transferrcd reach agreement in writing that the credit of such person
<br /> ` i is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shalt be at such rate as Lender
<br /> shall request. 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 relcase Bortower from a11
<br /> i obligations under ffiis Mortgage and the Nota
<br /> If Lender exercises such option to accelerata Lender shall mail Borrower notice of acceleration in accordance with
<br /> paragraph 14 heceof. Such noUce shall provide a period of not less than 30 days from the date the notice is ma�'led within
<br /> which Borrower may pay the sums declarcd due. If Borrower fails to pay such sums prio� to the expiration of such period,
<br /> • Lender may, without further notice or demand on Borrower, invoke any remedics permitted by paragreph 18 hereof.
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<br /> r y Norr-Urnponnt CovexwNTs. Boaower and Lender further covenant and agrce as follows : t
<br /> :��� � � � � 18. Aeeelerattoa; Remedies. F�cttpt as provlded in para�rsph t� hereof, upon Borrower's breach of any covenant m . . �
<br /> i agmment of Borrower in this Morlgage, iocludi� the covenants to pay when due any snms securcd by this Morfgage, * - z. � ' �� . �.
<br /> ,, Lender prior to acceleraBoo sMall ma11 noHce to Borrower as provided in paraRraph 14 hereof spectfying: (1) t6e brcach; "_
<br /> (� the action reqoired to core such brcach; (3) a dste, not lees than 30 days from the date the notice ts mailed to Borrower, �"�"°
<br /> � tiy which sach breach must be cu�ed; aad (4) that failure to cure such 6rcach on or before tde date speclRed in the noKce t
<br /> may result In acc�kration ot fhe sa� secured by thts Mortgage, forecbsure by judidal proceeding and sate of the Property.
<br /> , 1'6e notice a6all fnrther inform Borrowe� of lfie right lo relnstate after acceleration and the right to assert in the foreclosurc � +,�"
<br /> F . proceedint the non-exiatence oE s default or any other defeme of Borrower to aceeleratlon and foreclosore. if the breach �, "'�
<br /> � ls aot cured on or betorc the date specllied ie the noKce, Leoder at Lender's option may declare s0 of the sums secured by .
<br /> ' � � � this Mortgaee to be immediately due and payable withont furlher demand and may forcclose by judiclal proceedi�. Lender - . �
<br /> , . a6a11 be� entltled to collecf in sach pmceedl� all expenses ot forcctosure, includl�, bot not Ifmhed to, cosfs of docnmentary � "`-�� `
<br /> � � evideneq abst�aats and tltle nporta.
<br /> 19. Borrowe�s RiQht to Relnstata Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
<br /> Borrowe[ shali have the right to have any proceedings begun by Lender to mforce this Mortgage discontinued at any time
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