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<br />Lender', wrusn agreement or applicahle law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />r Any amounts dishursed by Lender pursuant to this paragraph 7, with interest thereon. shall become additional
<br />1 indebtedness of Borrower secured by this Mortgage. Unless Borrower and lender agree to other terms of payment, such
<br />t amounts shall he 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 woold he contrary 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 hereunder.
<br />N. 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 fender's
<br />interest in the Property.
<br />9. Condemnation. 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 he 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. In the event of a partial taking of the Property, unless. Borrower and Lender
<br />otherwise agree in writing. there shall he applied to the sums secured by this Mortgage %rich 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 hears to the fair market vahte of the Property immediately prior to the dare of taking, with the balance of the proceeds
<br />paid to Borrowe
<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 to collect and apply the proceeds. at Lender's option, either to restoration or repair of the
<br />Propene or to the sums secured by this Mortgage.
<br />Unless Lcnder 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 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 liahility of the original Borrower and Borrower's successors in interest. Lender shall not he 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 Borrower's successors in interest.
<br />It. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not he a waiver of or preclude the exercise of anv such right or remedv.
<br />The procurement of insurance or the pavmcnt of Lose% or other liens or charges by i.ender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness scaircd by this istortgage.
<br />12. Remedies Cumulative, All remedies presided in this Mortgage are distinct and cumulative to anv other right or
<br />remedy under this Mortgage or afforded b n w a
<br />y law r egry nd rosy hr escrch :cd conct :rrenth. independently or successiveiv.
<br />13. Successors and Assigns Bound; Joint and Several Liability: Captions. idle covenants and agreements herein
<br />contained shall hind. and the rights hereunder shall more to, the re.pectwe successors and assigns of lender and Borrower,
<br />subject ro. the provisions of paragraph 17 hercol. All covenants and aercentents of Borrower shall he joint and several.
<br />The captions and headings or the paragraphs of this Mortgage are for convenience only and are not to tae used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for anv notice reynlred under .ipplird,le lass a, he given in another manner, (a) any notice to
<br />Borrower provided for .n this Mortgage shall he gttcn by mauling such nonce by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower ntav designme by notice to Lender as provided herein, and
<br />(b) any ::puce to Lender shall he gt%cn by certified mail. return receipt requested. to Lender's address stated herein or to
<br />such other address as Lender may designate M notice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shail be deemed to have hecn given to Borrower or I ender when given in the manner designated herein.
<br />15. uniform Mortgage; Governing Law; Severahility. 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 instnrment covering
<br />real property. This Mortgage shall he 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 affect
<br />other provisions of this Mortgage or the Note which can he given effect without the conflicting provision. and to this
<br />end the provisions of the Mortgage and the Note are declared to be %everabte.
<br />16. Borrower'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 consent. excluding (a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage. (h) the creation of a purchase money security interest for household appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or
<br />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 n, accelerate if. prior to the sale or transfer. Lender
<br />and the person to whom the Property is to he sold or transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable nn the sums secured by this Mortgage shall he 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, fender shall release Borrower from all
<br />Obligations under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate. Lender shall mail Bonower notice of acceleration in accordance with
<br />paragraph 14 hereof Stich notice shall provide a period of not less than to days from the date the notice is mailed within
<br />which Borrower may pay the sums declared duc. It Borrower fails to pav such sums prior to the expiration of such period,
<br />Lender may, without further notice or demand on Borrower. invoke am remedies permitted by paragraph 18 hereof.
<br />NoN- UNIWtRM COVENANTS Borrower and Lender further cuven,ini and agree a% follows:
<br />iN. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower in this Mortgage. including the covenants trr pay waen dae any sums secured by this Mortgage,
<br />or
<br />Lender prior to acceleration shall mail notice to Borrower as lumided In paragraph 14 hereof specifying: I1) the breach;
<br />(1) the action required to cure such breach: 13) s date, not less than JO days from the date the notice is mailed to Borrower.
<br />by which such breach must be cured; and (4) that failure to cure such breach on or before the dale specified in the notice
<br />may result In acceleration of the %ants secured by this Mortgage, foreclosure by judicial proceeding and sale of the Property.
<br />Fhe notice shall further Inform Borrower of the right to reinstate after acceleration and the right to aswrt in the forect rsure
<br />proceeding, the nn.existence of a defoull or any other defense of Borrower to acceleration and foreclosure. If the breach
<br />I% not cured on or before the date specified in the notice, I.ender at Lender's option pray declare all of the sums secured by
<br />this Slorigage ht Ire immedialel,v due and payable without further denomd and mar foreclose b) judicial proceeding. 1 ender
<br />"!tail be rnlitled to collet t in %ach prurcedbng all expense% of fort-4 lowue, including, bill not Bolted lo, costs of docunrentarr
<br />ertdem e, ahstrai is and title reports.
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