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<br />83- 002782
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<br />Lender's wriUen agreement or applicable law. Borrower shall pay tbe amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 bereof.
<br />Any amounts disbursed by Lender pursuant to tbis paragraph 7, with jnterest tbereon, shall become additional
<br />indebtedness 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 requO'ting payment thereof, and shall bear interest from the
<br />date of disbursement at the rale payable frorn time 10 time on outstanding principal under Ihe NOle unless payment of
<br />inleresl at such rate would be conlrary to applicable law. in whicb event such amounts shall bear interest at Ihe bighest rale
<br />permissible under applicable law. Nothing contained in Ihis paragraph 7 shall require Lender to incur any expense or take
<br />any aclion hereunder;
<br />8. Inspection. Lender may make or cause to be made reasonahle entries upon and inspections of the Property. provided
<br />that Lender shall give Borrower notice prior to any slIch inspection specifying reasonable cause therefor related to Lender's
<br />interesrin the Properly. \
<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, arc hereby assigned
<br />and sball be paid 10 Lender.
<br />In Ihe evenl of atolal laking 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 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 hy this Jvfortgage 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 />If the Property is abandoned by Borrower. or if. after notice hy 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 tbe
<br />Property or to the sums secured hy 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 amollnt 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 hy Lender to any successor in interest of Borrower shall not operate to release, in any manner,
<br />the liability of the original Borrower and Borrower's Sllccessors in interest. Lender shaH 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 hy [he original Horrower and Borrower's sllccessors in interest.
<br />11. Forbearance by Lender Not a Waiver. Any forbearance My Lender in exercising any right or remedy hereunder. or
<br />otherwise afforded by applicable law. shall not he a wai\'cr of or preclude the exercise of any such right 0r remedy.
<br />The procurement of insurance or the payment of ta'iCS or othcr liens or charges b)' Lender ~han not he a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured hy this Mortgage.
<br />12. Remedies Cumulative. All remedies pwvided in this Mortgage arc distinct ~md cumulative to any other right or
<br />remedy under this Mortgage or afforded by law \1r equity. ~tnd fnjy be excrcis.ctl (..oncurrently, independently or s.uccessively.
<br />13. Successors and Assigns Bound; Joint and Sen'rdl Liability; Captions. The covenants and agreements herein
<br />contained shall bind. and the rights hereunder shall inure to, the r~spe(:tive Sllccessors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. All COVellants :loti agreements of Borrower shall he joint and several.
<br />The captions and headings of the paragraphs of this Mortgage art:" for t."onvcnicnce only and arc not to be llsed to
<br />interpret 01"' define the provisions hereof,
<br />14. Notice. Except for any notice required under applic~lblc law tel be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall he given hy mailing <;uch notice by ~effified mail addressed to Borrower at
<br />the Property Address or at such other address as Borwv,'cr rnay designate hy nOlke to Lender as provided herein. and
<br />(b) any notice to Lender shall he given by certified mail. return rec~ipt requested, to Lender's address stated herein Of to
<br />such other address as Lender may des.ignate ny notice l() Borrower as provided herein. Any notice provided for in this
<br />Mortgage shall be deemed to have heen given to Borrower or Lender \;,'hen given in the manner designated herein.
<br />15. Uniform Mortgage; Governing 1.3"': Se\'erability. This. forrn of mortgage I...ombine..... uniform covenants for national
<br />use and non-uniform covenants \\'ith limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real property. This Mortgage shaH be governed hy the law ('[ the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of this Mortgage or the Note conl1icts with applicahle law, 'iuch ('()nflict shall not affect
<br />other provisions of this Mortgage. or the Note which can he givt:n eflct.;t without the c0nnicling provision, and to this
<br />end the provisions lOf the Mortgage and the Note arc declared to he severable.
<br />16. Borrower's Cop)'. Borrower shall he furnished a n)n(ormed Cl'PY of the Note and of this Mortgage at the time
<br />of eKccution or after recordation hereof.
<br />17. Transfer of the Propert~'; Assumption. If all or any part of the Property or an intcrest therein is sold or transferred
<br />by Borrower without Lcnder~s prior written con!-.~llt. excluding (a) the creation of a lien or encumbrance subordinate. to
<br />this Mortgage. (b) the creation of a purchase money sc\,;urity intt'rcst for household appliances, (I.:) a transfer by devise,
<br />descent or by operation of 'law upon the death llf a joint lenant \)r Idllhc grant of any h.~~lsehold interest of three years or Jess
<br />not containing an option to purchase. Lender may, at Lcnuer'.s optll..ln. dedarc all the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shall have waived sllch option to accelerate if, prior to the sale or transfer, Lender
<br />aod the person to whom the Property is to be s.old or transferred rl~ach agreemenl in writing that the credit of such person
<br />is ,satisfactory to Lender and that the interest payable on the sums secured oy this !\'lortgagc shall he at such rate as Lender
<br />shall request. If Lender has waived the option to ~\cceleratt pro\'iJcd in this paragraph 17, and if Borrower's successor in
<br />interest has. executed a written assumption agreement accept~d in writing hy Lemler. Lender shaH release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />lf lender exercises such option to accelerate, Lemler \hall mail Borrm.....cr notice of a~ce1eratioll in ac-.;ordancc with
<br />paragraph 14 hereof. Such notice shall provide -'l period of not less. than 30 Jays from the date the noticl.' is mailed \vithin
<br />which Borrowc:r may pay the. sums declared due, if Borro\\er fails fO pay -such sums prior [0 Ih~ expiration of Stich period,
<br />Lender may. without further notice or demand on B9frowcr, invoke any remedies permitted hy paragraph 1 R hereof.
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<br />NON~UN.JFORM COVENANTS. Borrower and Lender further COH:nant and agree a~ foll\)ws:
<br />U~... Acc~I~l1.1:ti9n; Remedies. Except a,s provided in paragraph 17 hereof, upon Borrower's bres(:h of an)' co\'enant or
<br />agr.ee.ment o~~ ~,orrpwer j.D..this. Mortgage, indudi,ng, Ih-e ('o,.enauts to pay \-'..hen dUl' an,y sums secured by this J\'lortgagc.
<br />Lemler pl:j!)~. 10, acceleration shall mail notice 10 Borrower as provided in paragraph i4 hereof specifying: (I) Ihe breach:
<br />(2). ~~,.J.l~~9n. r<<:q,.~.~ed, to, cure s~~h ~(each;, (3) a date~ not Jess thau 30 days .frcHtI the date the noUct is ,majled to .Borrower.
<br />br wl\lclI SU~II b~ea~II mnst be cured; and (4) tllal fallnre to eure such breach Dn or before Ihe dale specified in the notice
<br />1Jl.a.Y ~.~Jt).n, 9.,-::~~r~th)U of t~le SUIn,~ secure4. by tbi~ \fortgaJ{e. foreclosure by judjcial pro('f.'cding :!nd sale of the Propcrt)'~
<br />, . Jl:_fu~b.,er,_i~f()r(l1 ,B.ornH\'c.f ()f th~ right to rej"~tate aftera(,'(cleration and the right 10 assert in the for~.dosun'
<br />'n~.n:e~~(e,n~'e.or: 11. de~aQlt; O_f any other defense. of Bu.-rower to acceleration and foreclosure. If the breu.dl
<br />o~ ~f()re..th~ date s~dfi~~Jn the nalke. Lender at I.t'nder's option nUIX dcdare uU of the ~ums sN'ured by
<br />lobe 11Jl1il""lal~ly due a~d payabie wilhou! furlher demand and may foreeluse by judicial proceeding. Le",ler
<br />.:__, _, ." 'c'-",..,~ ':, b) c.oUe:tt. i~..s.~(:b ,proc~edi..g aU ex.pe~$es of fortdo~urc. induding. hut no. limited to. costs of docuuu:ntaQ'
<br />e..l!lolIl"", l!~trad~1tndI111e ~po~
<br />, t~_~. .~,rrt!'~~$; ~:ht. t.O'. Re.i~ate~ Notwithstanding Lendc~'s w::re!cralil;lo of lhc ).,ums sei:urcd ~y thi.. Mongag(.~.
<br />fJDn'o\yet. sbaH.have, th~ "jbt- to h~ve any procccdi.ng~ begnn by J.vrld~r t{) tnf~)ll.'.c !tus rvIurtg,--lg(' dh':.l~lltIIHl1..>d .it .(lIlY rim:;,.'
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