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<br />83~ u06145
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<br />Lender's written agreelilent or applicable law. Borrower shan pay the amodnt of all mortgage 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. shan becolile additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment,such
<br />amounts shan be payable upon notice. from Lender to Borrower requesting payment lhereof, andshaUbear interesttrom' the
<br />d.te of disbursement at the rate. payable from time to time. on outstanding principal under the Note. unless.payttlel!Lof
<br />inte~tatsuch me would be contrary to applicable law, in which event such amounts shallbearinterest at thehigbestnlte.
<br />petmissibleunder applicable law, Nothing contained in this paragraph 7 shall require Lender to incur.any expense,,! take
<br />anyactiollhereunder.
<br />8. -liispedlon. Lender may make or cause to be made reasonable entries upon and inspections of the Property, proYi~ed.
<br />that l.ender shan 'five- Borrower notice prior to any such inspection specifying reasonable -cause therefor related - to Lender's
<br />interest in the Property.
<br />9~ -Condemnation. The proceeds of any award- or claim for damages. direct or consequential, in connection ,widl:-a~y;-
<br />coridemnation or other-taking of the Property. or part thereof, or for conveyance-in lieu-of condemnation;:are'hereby -assigned
<br />and shan 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, jf any, paid to. Borrower. In the event of a partial taking of the Property~ unless Borrowet _aod:',Lender
<br />.otherwise agree in writing, there shaH be applied to the sums secured by this Mortgage such proportion .of the prxeeqs
<br />as is equal ta 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 />If the Property is abandoned by Borrower. or if. after notice by Lender ta Borrower that the condemnor .offers ta make
<br />an award or settle a claim fOT damages, Borrower fails to respond to Lender within 30 days after the date such.- notice ds
<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 Mortgage,
<br />Unless Lender and Borrower otherwise agree j- -;jriting. 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 />to. 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 />tht. ~ii:1bility of the original Borrower and Borrower's successor~ in interest, 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
<br />'iecure..d by thi... Mortgage by rea~on of any demand made by the original Borrower and Borrower's successors in interest.
<br />-11. fi'~r8Ilce ,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 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 indebtedne" ,ecured hy this Mortgage,
<br />12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded hy law or ~quit).. and mOlY he exercised concurrently. independently or successively.
<br />13. Suttesson and Assigns Bound; Joint and Several LiabiUty; Captions. The covenants and agreements herein
<br />contained shall bind. ~nd the rights hereunder shaH inure to, the respective successors and assigns of lender and Borrower.
<br />subject to the provisions of paragraph 17 hereof. AU 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 are not to be used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable Jaw to be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shan 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 shan be given by certified mail. return receipt requested. to Lender's address stated herein or to
<br />such other address as Lender may designate by nor ice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Uniform Mortgage; Governing Law: SeverabilitJ. This form of mortgage l:ombines uniform l:OVenants for national
<br />use and non-uniform covenants \...ith limited v.uiations by jurisdiction to constiwte a unifoml security instrument covering
<br />real propeny. This Morlgage shall be governed hy the Jaw of the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of this Mongage or the Note conflicts with applicable law, such conflict shall not affect
<br />other provisions of this Mongage or the Note which can be given effect without the conflicting provision, and to this
<br />end the provisions of the Morlgage a.nd the Note are declared to he severable.
<br />l~ ISorrower's Copy. Borrow~r shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after I"<<ordation 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 ~l lien or encumbrance subordinate to
<br />this Mortgage. (b) the creation of a purchase money security interest for household appliances. (c) a transfer by devise.
<br />descent or by ope-ration 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 option to purchase, Lender may, at Lender's option. declare illl the sums secllred by this Mortgage to be
<br />immedjately due- and payable. l.ender shalt have waived sllch option h): accelerate if. prior to the sale or transfer. Lender
<br />and the person to whom the Property is to be sol-d or transferred reach agreement in writing that the credit of such person
<br />is satisfaclof)' fO Lender and that the interest payable on the s.ums secured by this Mortgage shall be at such rale as Lender
<br />shall request. rf 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 agree.ment accepted in writing by Lender, Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note,
<br />If Lender exercises_ such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />pa(agraph 14 hereof. Such notice shall provide a period of not less than 30 days. from the date the notice is mailed within
<br />which _BorrQ-~ may pay the sums dedared due. If Borrower (ails to pay such sums _prior to the expiration ,of such period,
<br />~ender may. without further notice or demand on Borrower, invoke uny remedies permitted by paragraph 18 hereof.
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<br />N9N~UN1FO{\MCOVEN^NTS. Borrower and Lender further covenant and agree as follows:
<br />18. . Accderatioo; Remedies. Excepl as provided in paragraph 17 hereof, upon Borrower's breach of any covenaot or
<br />IICnl'JIIeOt. of Borrower io t1\ls Mortgage, iocludina the co'ellanls 10 pay when dne any SUIlIS secured by this Mortgage,
<br />~~prlclr 1\l~$lW1rna1l O<>tke 10 Borr"wer .. pro"ided io paragraph 14 hereof specifying, (1) the breach;
<br />(JJ~,ll!'ll!m~!Ilred 10 eul'C$lIC" b(each, (3) a date... not I.... than 30 days from Ihe date the 1I01lee 1< mailed to Borro\\'er,
<br />"f"'*"...~h.~...must lIfI~ eu..,d; and (4) that failure to cure such breach on or hefore the dale spee/lied In lhe nollce
<br />lIIJl)\.....lt i!tacc~n Ilf the ."nu secured by this Mortaa2~, foreclosure by judicial proC1...,ding alld sale of the Property.
<br />'l'IIe notlCo. sh!dI~l i!ttunn. 8wrowe.r of .the..richt 10 ..,btale after ..eceleratio. and the right to assert in the foreclosure
<br />,~li.e ~e m. a default or any otherdefe_ of Borrow.r 10 ""cel.....tion and foreclosure. If Ihe breaeh
<br />'-1lGt. ~ Ollo.r l!d'Q~ lhe dale specllied!n t". uoll.... LCII.der al Lend.r's Optioll may' declare all of Ihe so.... secur.d by
<br />lIlai.~ 10 bel~y d\lO amlP.yable \\'!thout further .kmaud und. llIay force",," by' judklal proceeding. IA!nder
<br />~. be. ~.Io......~ 1tI"~lIeh. P"'!Ceed.boc ail exr:e_ of foreclosure, includlng. hol 1I0t limhed to. cosili uf documentary
<br />.'~.lIIIiIl'IKII ~.~ reportJ.
<br />It.~"'.lI;iahl ~ Rdnotate. NOlw;lh>taod,ng t...der.' accelerat"'" ,,(.hc ,,,ms ,,,,,,,,ed by this Mortgase,
<br />Imrrower shall have the r.at 10 have. any procee-din,s hoc,un by l.cnd:ct to cofon:!; thl$ M(lrtg.~ge discontinued at any time
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