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<br />Lender's written agreement or applicable law. Borrower shall pay the amount of all moRgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Burrower 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 shah 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 contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />permissible render applicable law. Nothing contained in this paragraph 7 shall require-Lender to incur any expense or take
<br />any action hereunder.
<br />8. Inspection. Lender may make nr 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. Covdemnatfo». The proceeds of am 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. In the event of u partial taking of the Property; unless Borrower and Lender
<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 />taking hears to the fair market value of the Property immcdiatety 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, Burrower fails to respond to i.ender within 3B days after the date such notice-is
<br />mailed. Lender is authorized to collera and apply the proceeds, at Lender's option, either to restoration or repair of the
<br />Property or to the sums secured h}• this Mortgage,
<br />Unless Lender and Borrower otherwise agree in writing. am• such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs t and 2 hereof or change the amount of
<br />such installments.
<br />10. Br•,rrower Not Released. Extension of the time fur 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 Aorrnwer's successors in interest. Lender shall nut he required to commence
<br />proceedings against such successor or refuse to extend time far payment or otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made be the original Borrower and Borrower's successors in interest.
<br />1t. Fnrbearonce by trader Nut a Wair•er. :1 m' ferbeamnce by Linder in exercising am' right or remedv hereunder, or
<br />otherwise aBurded by applicable law, shall nu[ be a waiver of or preclude the exercise of env such right or remedv.
<br />The procurement of insurance or the payment of texts or other liens or charges by Lender shalt not he a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. Afl remedies provided in this blortgaee are distinct and cumulative to an}' other right or
<br />remedy under this Mortgage or allorded by law nr cquit}'. aid may hr exrrcised concurrently. independently or successively.
<br />13. Successors and Assigns Boand: Joint and Several Liahility; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender xm °•rrrower,
<br />subject to the provisions of paragraph 17 hereof. All covenants and ngreemems of Borrower shall 6e joint ai 3 several.
<br />The csptions and headings of the paragraphs of this .=Mortgage are for a+m•enicnee oniv and arc not to be used fo
<br />interpret or define the provisions hereof.
<br />14. Notfce. Except for ern' notice rcyuired under applicable law to be given m another manner, (a) ;ray notice to
<br />Borrower provided far in this Mortgage shall he given by mailing such notice by certified mail addressed to Borrower at
<br />the Propeny Address er at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />(b) any notice to Lender shall he given by certified mail, rewrn receipt requested. to Lenders addrrss stated herein or to
<br />such other address as I-ender mac designate be notice k+ Barruwer as provided hrrein. Any notice provided for in this
<br />Mortgage shall be deemed to have been given to Burrower or Lender whin liven in the manner designated herein.
<br />f5. Uniform Mortgage; Governing Law; Severability. l tit, h+rm of mortgage combines uniform covenants (or national
<br />rise and non-uniform eavcnants with limited variations by luri,dictior, t, constitute a uniform security instrument covering
<br />real proper[}'. This Mortgage shall 6e governed by the law of the jarisdiction in which the Property is located. In the
<br />event that any provision or clause of this Mortgage or the Noce a+ntlich with applicable law, such conflict shall not affect
<br />other provisions of this htartgage or the Note which c:ur he given cdcct without the conflicting provision, and to fhis
<br />end the provisions of the Mortgage and the Note arc declared to he severable.
<br />iS. Borrower's Copy. Rorru'.vcr shall he furnished a rnniormed ropy of rho Note and of this Mortgage at the time
<br />of execution ur after recordation hereof.
<br />17. Transfer of the Property; Assumption. 1f all or any part of the Property or an interest therein is sold nr transferred
<br />by Borrower wit hoot Lender's prior +erittca consent. excluding h.7 the en.,tior~ ut a lien ar oneumbrance subordinate h?
<br />this Mortgage. (b) the creation of a purchase money security interest for he usehold appliances, (d a transfer by devise,
<br />descant oc by operation of law upon the death of a joint tenant or idi the grant of any leasehold interest of three years or less
<br />nut containing an eptiun to purchase, lender mss, :tt Lendre•. option, declare a!I the sums secured by this M1lortgage to be
<br />immcdiatety due and payable. Lender shall have waived such option to acccletrotc if, Wrier to the sale or transfer, 1_ender
<br />and the person ro whom the Property is to be sold yr transkrrcd reach agreement in writing that the credit of such person
<br />is satisfadorr to Lender and that the intense payable an the sum, secured M' this Mortgage shall he at such rate ax Lender
<br />shall request. If Lender has waived the option to accelerate prucidrd in this paragraph 17. and i{ P.,urrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by Lender, 1_cndcr shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such eptiun to a retetatr. Lender shall mail Borrower nonce of acceleration m accorctanee with
<br />paragrnph I~ huwf. Such notice .haft provide :, period of not less than 30 days from the date the notice is mailed within
<br />which Borrower ma}' pay the sums declared due. IC Borrower fails ur pay such sums prior to the r.xpirnion of such period,
<br />Lender map, without further notice or demand nn Borrower, Invoke any- remedies permitted by paragrul?h 13 hereof.
<br />No;v-I ~tt~oasr Covevwurs. Rorrawcr anti Lendrr further .o+enar.t and agree as follows:
<br />18. Acceleration; Remedies. Fxcepl as provided in para}trapp 17 hereof, upon Borrower's breach of any covenant ar
<br />agreement of Harrower in this MnrtQage, including the covenants to pay when dui am sums secured by fhis Mortgage,
<br />fender prior to accekrafian shaft mail notice to Borrower as proridrd in paragraph l4 hereof specifying: f11 the breach:
<br />t2) the action required to cure such breach; (3) a date, nni lei thou 3tl days from the date the notice is maileA to Borrower,
<br />br wfikh such breach must 6e cured; artd I4) chat failure to care such breach on or before the dafe specified in the notice
<br />map texulf In accelcratfun of the sums secured hp this Mortgage, foreclosure Dy judicial proceeding and sole of lire Property.
<br />The notice shag further inform Borrower of the right to rcinsfale after acceleration and the right W a:urt is thr fonelnsure
<br />pr«eedf~ file rwn•exlstenre of a default or anp other Aeiense of Borrower fn acceleration and fnreclnsurc. If the breach
<br />- Is not cured ao or txfore the daft specified in the natire, Lender at Lender's option rnap declare all of the sums secured by
<br />tftiri Mortgsgt to be lmmtdlatrlp due and payablt without furfirer demand and ma} furerfase by jndiciaf proceeding. I.ernier
<br />xhatl fx entlikd to collect in such prorecdiog aR exprnses of toreclasure, includinK, but oat limited fa, rusts of darumentar}
<br />e*i,drnc<, ahezracts and iltk rrpartx.
<br />19. Borrower's Tti~hk la Rdmiate. Notwithstanding l.endc is arsrtcraouu o5 nc~ aumS secured by dtis Mertgnge.
<br />Barrawer shaft havE the ri$hf in have an)' prneceditrgs fnguu by Lcrdrrr u7 euti'.rrcc thn 4ortgagr discaminrnd :+, an}~ uane
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