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<br /> U~038
<br /> 1 c, ute;'+ tea is ; ag c±•^rcn' 01, atlp licable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> nnr:c r ;dr+ grader paragraph 2 hereof.
<br /> Art a r , rs dishu sect by Lender pursuant to this paragraph 7. with interest thereiir•, shall become additional
<br /> +et, rt+ ;t s•. f7; BCT~ Rule sccurrd by th`•s Mortgazc. Unless Borrower and tender agree to c•tl:rr terms of payment, such
<br /> rrraun,z aha,''?c 7nl: +r r* n e from Lender to Borrower requesting payment thereof. and :,hall hear interest from the
<br /> !arse i~ i" s"t:r. m'`nt at the t rte n:ts:ttle from time to time on mitstanding principal under the Note unless payment of
<br /> I111,er"C4: at SL:C)l ratC 1,1-l?t1 d Sc contmry to apt?lie.-ibis ;a,*. in which event such amounts shall bear interest at the highest rate
<br /> TTrrrtrrsiNc under aprlicable law-. 'nothing contained in this paragraph 7 shall requite Lender' to incur any etpense or take
<br /> nhv xM1tigK'~ lrr:[UnLier,
<br /> g lns; -ction_ Lendcr rru*y make or cause to he made reasonable entries upon and inspections of the Property, provides'.
<br /> :hat i cr:dcr s)sall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br /> ^:eres: in the Propcr,.',
<br /> 9. Condemnation. 'Thc prizes""s (•f anv award or, claim for damages. direct or consequential, in connection with any
<br /> rsnr':cr+nati+ 7 tli• ether taking of the Property, or part thereof, or for conveyance in lieu of condemnation. are hereby assigner!
<br /> :111d 5h 3 i INC p'lid ;t) I ender.
<br /> In th,: cent ofi,A trial taking rf.the Property, the proceeds l1 he applied to tht stems securest by this Mortgage.
<br /> with the c+, cs.s ;f ,n,, nerd :c T)orrr• wee. In the event of a partia, taking of the Property, unles" Borrower and Lender
<br /> othcrw;u awes i;; tiiri!:ng, there shell be applied to the sums secured by this, Mortgage such proportion of the proceeds
<br /> as is egc.al !o that t rc'1 i~:nn which the mount of the stems scctircd by this Mortgage immediately prior to the date of
<br /> t:rkin£'be•ars tc :7c fast market caluc of the Pro crty immediately pric+r to the date of inking, with the ha! Lice of the proceeds
<br /> iYYid to Bortolie".
<br /> It the Property is :rh,andoncti by Borrower, or if, after notice try 1-ender to Borrower that the condemnor offers to make
<br /> an sward or settic a tJai.m for darnages, Borrower fails: To reNrxind n• I.ender within 0 days after the date such notice is
<br /> tr:a>lcd. I..rndU i< .1-J" Orized to collect and apply the procccd'c. At Lender's option, either to restoration or repair of the t
<br /> Propert or to the sums secured h', this Mortgage. ~
<br /> T,1n1c<. T.endcr and Borrower othen, isc agree in writing, anv such application of proceeds to principal -hall not extend
<br /> o p..mtp e :hc d,x, date of the mor:thly installments referred to in paragraphs 1 and Z hereof or change the arnotmt of
<br /> sur.h ins:alrmc~,ts. 1
<br /> 10. Borrower Not Rzleased. F-.<tcn;ion of the time for payment or modification of amortization of the sums Cccurcd ;
<br /> y th's ~1rr'i:sgr grants., h•; Lcntier to any successor in interest of Bc-rower shall not operate to rr)ease, in any manner,
<br /> tt.c iiaf 1,ty of :he original Borrower and Horru-er's succesctsrs in interest. Lender shali not be regitired to commence j
<br /> proceedings against such successor or rtfus.e to extend time for payment or otherwise modify amortization r,f the sums
<br /> serurtd by this %lonrage by rcason of any demand n..Yc by the o•iginal Borrower and Borrower's successors in interest.
<br /> 11. 1 tarhearance by Lender Not 2 Waiver. Any forbearance by bender in exercising any right or remedy heretinder, or
<br /> tl*eniisc a';ordcd by applicable law' shall not be a waiver of or preclude the exercise of any such right or rtmedv.
<br /> The procurement of insurr.nce or the payment of taxes or other liens or charges by. Lender shall not be a waiver of Lender's
<br /> right t•n accelerate the man. rky of the indebtedness c:curcd by this, Mortgage.
<br /> 12.. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> rcrne4v under Nlortgagc or afforded by law or equity, and may be ~-,xcrcised concurrently, independently or successively.
<br /> 1.3. Successors and. Assigns Bound; Joint and Several Liabilitrt Captions. The covenants and agreements herein.
<br /> ~ontaincd sha':!'rind, and the rights hr.reunder shall inure to. the respective successors and assigns of Lender and'Borrow'er,.
<br /> :ubjcci to the provisions of paragraph 17 hereof. Aft t:oven.mis and agreements of Borrower shall be joint and several.
<br /> The captions and headings of the paragraphs of this Morioagc are for convenience only and are not to he used to
<br /> intcrpre: or dcfinc the provisions hcreof.
<br /> 14. Notice. Except for any notice required under applicable law to be )riven in another manner, (a) any notice to
<br /> Rorrower provided for in this Mortgage shall he given by mailing such notice by certified mail addressed to Borro.i•cr at
<br /> the Property .Address or ac such other address as Borrower may designate by notice to Lender as provided herein, and
<br /> r},'+ am nc.:icr tsi Lender shall he given by ccrttficd mail, rctum receipt requested. to Lender's address stated herein or to
<br /> sk,ch othe: .iddress as Lender may designate by notice to Borrower as provided herein- Any notice provided for in this
<br /> Morig3 e sha'` l-c deemed to have been given to. Borrower or i.ender when given in the manner designated herein.
<br /> 15. Citsifornt Mortgage: Governing law; Seyerability. 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 instrument covering
<br /> real property This Mortgage shalt tx governed by the law of the jurisdiction in which the Property is located. In the
<br /> event that any provision or clause of this Aortgage or the Note conflicts with applicable law, such conflict shall not affect
<br /> other pro•.isions of this Mortgage or the N,,,tr which can he given effect without the conflicting provision, and to this
<br /> end the prn',isions (if the Mortgage and ih-~ Kota are declared to be severable.
<br /> 16. Ilorrv»er's Copy. Borrower shall be fornislsed a crnfomted copy of the Note and of this Mortgage at thi: time
<br /> of e 4ccution or after recordation hereof.
<br /> 17. Trxivifrr of the Property. Amurnption. If all or any part of the Property or an interest therein is sold or transferred
<br /> by Borrower withtlut bender's prior written corasent. excluding (a) tht creat°on of a lien or encumbrance subordinate to
<br /> this, W)rtgage. (b) the creation of a purchase m<mey security interest for household appliances. (c) a transfer by devise,
<br /> .De<crwnt er by operation of lay: upon the death of a joint ten-it or (d) the grant of any leawhold interest of three years or less
<br /> Knot containing an. op:ion to purc-t•..asc. Lender may, at. Lender's option, declare all the sums secured by this Mortgage ro be
<br /> ern ne:di:Ytely due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer. Lender
<br /> s.:n, ;hc person in whom the Property is to nc sold or transferred reach agreement in writing that the credit of such person
<br /> is raNsfactorv to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> shill teq~,!cst. If tender has waived the option to accelerate provided in this. paragraph 17, and if Borrower's successor in
<br /> !Wtresr ha.% executed a written assumption agreement accepted in writing by Tender, Lender shall release Borrower from all
<br /> ir{>r;igations under this Mortgage and the Note.
<br /> If !..ender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with
<br /> paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mail,-,d within
<br /> which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period.
<br /> I...endrr m.av, tiiihout further notice or demand on Borrower, in-oke any remedies permitted by paragraph 1S hereof,
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<br /> irt7NJ)NtroRm. COV MASTS, Borrow,.: and Leader furthr. covenant and agree as follows:
<br /> 18. Atcc8eration; Rrmedka. Except m provided in paragraph 17 hereof, upon Bormwrer's breach of any covenant or
<br /> agreement of Borrower in this Mortgage, ii+icluding 'the covenants to pay w1-en due any surns secured by this Mortgage.
<br /> T.,en.;cr prior to acceleratiop ,hall mail notice to Borrower as provided in pi:xgraph 14 hereof specifying; (1) the breach;
<br /> (2) the action required to cure such breach: (3) x date. riot leas than 30 days from the data the notice Is retailed to Borrower,
<br /> by +wtdch such breach mast be, cured; and (4) thot fatilurt to cure such breach o0 or before the date specifie6 in the notice
<br /> may rt=it In acceleration of the curves seemed by this Mortgage, forieclosurc by judkW proceeding and We of the Property.
<br /> T'.e nhtke shall further Worse borrower of the right to reinstate after acceleration and the right to i+*ert its the foracloaurie
<br /> proceeding tint non-c tWeuce of a default or any other defense of. Borrower to acceleration and foreciovare. If the brewb
<br /> is viol c•uted ort or before the dame specified in the notice, termer at Lender's option may declare all of the mass secured by
<br /> tbk Mortgne to be immediately due and payable without further demand and may foreclose by judicial proceeding. Lender
<br /> shO br rnthkd to coltect in such proceeding all exprnses of foreclos:rire, including, but not limited IN costs of documentary
<br /> e-#idenct. abstracts and title reports,
<br /> 19. Borrv."er's Rk4ht to Rtinatate. Notwithmanding Lender's acceleration of the sumj• secured by this Mortgage.
<br /> TSOSrt~~er ahx'1 have the right to hays anv proceedings begun by !..ender to enforce this Mortgage discontinued at any time
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