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<br />Lendei s written agreement or applicable law. Borrower shall pay the amount 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. 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 Berrow•cr requesting payment thereaf. and shall bear interest from the
<br />date of disbursement ai the rate payable from time to time on outstanding principal under the Note unless payment of
<br />interest at such rate would be contran• to applicable law, in which event such amounts shall bear interest at th^. 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 />B. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />[hat Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Propert}•.
<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, ar 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 [he 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 by this Mortgage immediate 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 />tf the Property is abandoned by Borrower. oz if, after notice by Lender to Borrower that the condemnor offers to make
<br />an award or settle a claim Tor damages. Borrower fails to respond to Lender within 30 days after the date such notice is
<br />mailed. Lender is authorized to collect and apph• the proceeds, at Len~er's option, either to restoration or repair of the
<br />Propen}• or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to prncipal shall not extend
<br />or postpone the due dale of the monthly installments referred to in paragraphs l and 2 hereof or chance 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 ATortgage granted by Lender ie.any successor in interest of Borrower shall net operate to release, in any manner,
<br />the liability of the original Borrower and Borrowei s successors in interest. Lender shall not be required to commence
<br />pro.^.eedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured by this Mortgage be reason of am• demand made h7 the original Bormwer and Borrower's successors in toreros?.
<br />11. Forbearance by Lender Not a R'aiver. :4ny 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 any such right or remedy.
<br />Tne prxurement of insurance or the payment of taxes or other liens or charges by Lender shalt not be a waiver of Lender's
<br />right to accelerate the maturin• of the indebtedness secured by this Alertgage.
<br />12. Remedies Cumulative. All remedies provided in this Mongage are distinct and cumulative to any other right or
<br />remedy under This Mortgage or afforded by Vavv or eouity, and mac be exercised concurrently. independently or successively.
<br />13. Successors and Assigns Bonnd; Joint and Secerai T.iabilih•: Capfions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to. the respective successors and assZgns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. .411 covenants and agreements of Borrower shall be tutor and several.
<br />The captions and headings of the paragraphs of this Mortgage are for wmenience only and are not to be used to
<br />iniezpref or define the provisions hereof.
<br />14. iVotice. Except for any notice required under applicable law to he given m another manner. (a) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br />the Propery Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />(b) any notice to Lender shall be given b}' certified mail, rerun receipt requested, to Lender's address stand herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. .Any notice provided for in this
<br />Mortgage shall be deemed to hate been given io Borrower or Lender when given in the manner designated hettia_
<br />I5. Uniform Mortgage: Governing Law; Severability. This form of mortgage combines 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 shat] be governed by the law of the jurisdictio^, in which the Propem• is located- In the
<br />evert that any provision or clause of this Mortgage or the Nate conflicts with applicable law, such confiitt shall not affect
<br />other provisions of *.his Mortgage or the Note which can be given effect without the conflicting provision. and io this
<br />and the provisions of the Moneage and the gate arc declared to be severable.
<br />16. Borrowers Cop}•. Borrower shall be #urnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />T7. Transfer of the Property; assumption if all or am• part of [he Property oz an imerest therein is sold or transferred
<br />by Borrower without Lenders prior written consent, excluding (a) the creation of a ]ten or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer hp devise.
<br />descent or by operation of law upon the death of a joint tenant ar {d}the grant ai any ]easehald interest at three years or less
<br />not containing an option to purchase, Lender may, at Lend*~r's option, declare all the sums yenned by this 'vortgage to be
<br />immediately due and payable. Lender shall hava waived such option to accelerate if, prior to the sale or transfer, Lender
<br />and the person to whom the Property is to be sold or trarsferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on the sums secured by this '~toagage shall be at such rate as Lender
<br />shall request. If Lender has waived the option ?o 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, Lender shalt release Borrower from alt
<br />ohtigations under ibis Mortgage gad the Note.
<br />I# Lender 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 oat less than 3t3 da}'s from the date the notice is mailed within
<br />which Borrower may nay the sums declared due. If Berrouer fails to pay snob sums prior to the expiration of such period,
<br />Lender may, without further notice or demand on Borrower, invoke gay remedies permitted by paragraph 1 S hereof.
<br />Nox-UwrroRSt CovleN,[r'rs. Borrower and Lender further covenant and agree as follows:
<br />18. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agrcement of Borrower is t)tis A1ortRage, iociodirtg the cucenan[s to pay ehen due any sums secured by tbis \lortgage,
<br />lxnder prior to xukraGon shall mail notice to Borrower as provided in paragraph ti hereof specifying: (1) the breach;
<br />(2) the action required to curt such breach; (3) a date, not less than 30 days from the date the notice is mailed to Borrower,
<br />by which such breach must 6e cured; and (3) that failure to cure such breach un or before lht date specified in the notice
<br />may result in acceleration of the sinus secured by [his Mortgage, torrctosure by judicial proceeding and sale of the Property.
<br />The ratice shall furthe- in[orm Borrower of the right to reinstate after acceleration and the might to assert in the foreclowre
<br />proceeding the ran-existence of a defauh or any other defense o[ Borrower la acceleration and foreclosure. -f the breach
<br />is tint cured on or before the dale specified in the notice, Lender at tender's option may declare all of the sums secured br
<br />ibis Mortgage to be immediately due and payable without furtbar demand and may foreclose by judicial proceeding. Lender
<br />shalt be entitled to collect in such proceedirre all expenses of foreclosnre, including, but not limited to, costs of documentary
<br />evidence, abstracts and title reports.
<br />i9. Borrower's Right to Reiruaala Notwithstanding Lcndcr's a_~elera[ion i~f the sums secured by chi; Mortgage.
<br />Borrower shall have the right to have any proceedings begun b} Lender to enforce this Mortgage discominucd at am tintc
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