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<br /> ZB.e U � 3249
<br /> • :� Lender's written agreemeot or applicable law. Borrower ahall pay the amount of all mortgage insurance premiums in the �
<br /> � maaner pfovided under paragrap6 2 hereof.
<br /> 1 Any amounta disburaed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> indebtedness of Bonower secured by this Mortgaga Uniess Borrower and Lender agrce to other terms of payment, such I
<br /> � amounts shatl be payable upon notice from Lender to Borrower requesting payment theroof, and shall bear interest from the
<br /> data bf disboroement at the rate payable from time to time on outstanding principal under the Note unless payment of
<br /> intecest at auch rate wonld be contrary to applicable law, in which event such amounta shall bear interest at the highest rate
<br /> , � permiaeible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any eupense or take
<br /> any action hereunder.
<br /> 8. Impection. 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 thercfor related to Lender's
<br /> ' � interest in the Property_
<br /> 9. CoodemnaHon. 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 shall be applied to the sums secured by this Mortgage_
<br /> with the excess, if any, paid to Borrower. ln the event of a partial taking of the Property, unless Borrower and Lender
<br /> 3 otherwise agree in writing, thers 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 /> ; � 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 Borrower, or if. after notice by Lender to Horrower that the condemnor oHers to make
<br /> ' � an award or setUe a claim for damages, Borrower fails to respond to Lender within 30 days afrer the date such notice is �
<br /> -.f mailed, Lender is authoriud to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br /> i Property or to the sums secured by this Mortgage. �
<br /> . � Unless Lender and Borcower 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 i
<br /> such instaliments. �
<br /> , f 10. Borrower Not Reteaved. Extension of the time for payment or modification of amortization of the sums secured t
<br /> � by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner. �
<br /> � the tiability of the original Borcower and Borrower's successors in iaterest 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 1 �
<br /> secured by this Mortgage by reason of any demand made by tfie original Borrower and Borrowers successors in interest. '
<br /> � 17. Forbearance 6y Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or �
<br /> otherwise atforded by applicable law, shalt not be a waiver of or preclude the e�cercise of any such right or remedy. y
<br /> The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of knder's
<br /> g right to accelerate the maturity of the indebtedness secured by this Mortgage. 3
<br /> � 12. Remedles Cmmlative. Alt remedies provided in this Mortgage are distinct and cumulative to any other right o� ; ' ,
<br /> remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively. �
<br /> 13. Sacceasors and A ` L?
<br /> sdgns Bound; Jotnt and Several i.iab0ity; CapHona. The covenanu 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 thc provisions of paragraph 17 hereof. AII wvenanu and agreements of Borrower shall be joint and severaL r
<br /> 'Ihe captions and headings of ffie paragraphs of this Mortgage are for convenience only and are not to be used to S
<br /> interprot or define the provisions hereof. � i
<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 this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at �
<br /> ffie 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 certi&ed mail, return receipt requested, to LendePs address stated herein or to t ,
<br /> snch other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this '
<br /> Mortgage shall be dcemcd to have been given to Borrower or I�nder when given in the manner designated herein. �
<br /> I5. Uniform Mortgage; Governing Law; 5everabNty. This form of mortgage combines uniform covenants for national
<br /> use and nort-uniform covenants with limited variations by jurisdiction to constimte a uniform security instrumrnt covering !
<br /> real property. 'I7iis Mortgage shall be governed by the law of the jurisdiction in which the Property is located_ In the
<br /> evrnt that any provision or clause of this Mortgage or the Note wnflicu with applicable law, such conflict shatl 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 Note aez declared to 6e severabla
<br /> 16. Eorrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of exxution orafter recordation hereof.
<br /> I7. Traosfer of the Property; Assump6oa. If alt or any paR of the Property or an interest therein is sold or transferred
<br /> by Borrower without LendePs prior written consent. excluding (a1 the creation of a lien or encumbranee subordinate to
<br /> this Mortgage, (b) the creation of a purchase money security interest for household apptiances, (c) a transfer by devise,
<br /> 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 op6on to purchase, Lender may, at Lender's option, declare all the sums securcd by this Mortgage to be
<br /> immediately due and payable. Lmder shall have waived such option to accelerate if, prior to the sale or trenafer, Lender
<br /> and the person to whom tt�e Property is to be sotd or transferred reach agreement in writing that the credit of such person
<br /> is aatisfactory to Lender and that the interat payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> ahall rcquest. 7f Lender I�as waived the option to accelerate provided in this paragraph 17, aad 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 under this Mortgage and the Note.
<br /> If I.ender exercius such option to accelerate, Lender shall mail Borcower notice of acceleration in accordance with
<br /> paragraph 14 hereof. Such notice shall provide a period of not less than 30 days fram the dau the notice is mailed within
<br /> which Borrower may pay ihe sums declarcd due. tf Borrower faits to pay auch sums prior to the expiration of such period,
<br /> I.euder may, without further notice or demand on Borrower, invoke aay remedies permitted by paragraph I S hereof.
<br /> Nox-Urrtron�t Covexe[ars. Borrower and Lender further covenant and agrce as follows:
<br /> 18. Accderatlon; Remedier. FsttpY a� provtded lo para�raph 17 hereot, upon Borrower's brcac6 of any covenant or A
<br /> aQreement .of Borrower is tWs Mortgage, (ncludlug t6e coveoants to pay when doe any su� secured by t6ia Morlgage.
<br /> Lmder ptior to aceehratfon s6a1I mW1 noNce to Borrower as provided tn paragraph ]4 hereof speclfyiog: (1) tt�e breac6:
<br /> (� f6� aefiod raqa6�ed to cum soeh bnach; (3) a datp not kas than 30 days from t6e date t6e noUce b maHed to Borrower, '"'�"' " •:
<br /> br 'which soch bresch most bt co� apd (4) that fatlore to cure auch brcac6 00 or before t6e doh apedBed in the nolice '� '
<br /> mtq^ result in accdentton ot the sow secured by this Mortgagq toredosurc 6y judicial proceedYug aod sale of t6e PropeAy. a ^r.; �
<br /> T6e noUce sLall [nrtMer ioEorm Borrower oE tme right to rcinshte after acceleratbn and the r1gLt to aesert is the Earcdoaure J ��,? ;
<br /> �pcaceedloe �e':rion-q�teace of a defadt or y�Y other defense oE Borrower to accekraHon and foreclosnre. 1F the breach � : ,
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<br /> li;.aot cured 'on or before�due aoded ta t6 w thout fnrl6er �I.ender's option ms�y deelare all oE the sums secarcd by �''= r,
<br /> NdslKo�e to be im ��. PaYable oiand aod may forecloee by judicial proceedtug. Lender .' ,:� � k :
<br /> . , . ` � be � Ib coQect L� a+ch proceedloe:aH expemes of foreclosure, indnding, bot not limlted to, coste ot documeotary � ->� .''"'
<br /> eNdmce,'a�t[aent aod f1Ae repoetr., .c. _.. ' _
<br /> 1!. Eorrowd( Rl�ht to Aeindate. Notwithatanding Lender'a acceleration of the sums securod by this Mortgage,
<br /> Bocmwer ahall luve t6a tig6t to have any proctedings begun by 'Lender to enforce this Mortgage discontinued at any time
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