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<br />Lender'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 [o this paragraph 7, with interest thereon, shalt become additional-
<br />indebtedness o£ Borrower secured by this Mortgage. Unless Borrower and Lender agree to other tetras of payment, such -
<br />amaunts shag be payable upon notice from Lender to Borrower requesting payment thereof, and shall 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 shad bear interest at the highest rate
<br />permissible under applicable taw. Nothing contained ir. this paragraph 7 sbaB requite Lender to incur any expense or take
<br />any action tereunder.
<br />8. Ivspeetiov- Leader may make or cause to be made reasonable entries upon and inspections of the Froperry, 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. Coadiemvadon. The proceeds of any award or claim for damages, direct or consequential, in connection whir any
<br />condemnation or other taking of the Property, or part thereof. or for conveyance in lieu of condemnation.are hereby assigned
<br />and shalt be paid to Lender.
<br />Sn the event of a total taking of [he 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 by this Mortgage immediately prior to the date of
<br />taking liars fo the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br />pain io 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 damage, 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 the
<br />Property or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agtce 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 (and 2 hereof or change the amount of
<br />such instailmenu.
<br />10. Borrower Not Released. Extension of the dme for payment or modific :ion of amortization of rho- sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in anymanner,
<br />the liability of the original Borrower and Borrower's successors in intarest. 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 />secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br />11. Forbearavtt by Lender Not a Waiver. Any forbearance 6y Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shalt 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 rttaturiry of the indebtedness secured by this Mortgage.
<br />12- Remedies CumvlaNve. ,411 remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortga¢e or afforded by law or equity, and may be exercised concurrently. independently or successively.
<br />13. Successors avd Assigns Bound; Joint and Several i,iabifity; Captions. The covenants and agreements herein
<br />contained shall bind, and the righs hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. Ali covenants and agreements of Borrower shall be joint and several.
<br />The captions and headings et 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. t`totice. Except for any notice required under applicable law m be given in another manner !a) any notice ro
<br />Borrower provided for in this Mortgage shat! be given 6y mailing such notice by certified mail addressed [o Borrower at
<br />he Prouty Rddzss cr at such ether address as Borrower ma'y rlesignnte try notice to Lender as provided herein. and
<br />(b) any notice to Lender shall he liven by certified mail. return receipt requested. to Lender's address stated herein or to
<br />such other address as Lender may de.;ignate by notice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shall be dcemed to have been given to Borrower or [znder when given in the manner designa[ed herein.
<br />15. Uniform Mortgage; Governing Law; Severability. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limired variations by jurisdiction ro constiune a uniform security instrument covering
<br />real property. This Mortgage shall he governed by the law of the jurisdiction in which [he Pmperts is located. In the
<br />event that any` provision or clause of this mortgage or the Note conflicts wirh applicable law, such conttict shall not affect
<br />other provisions of this bfongage or the vote which can be given erfect without the contiicting provision, and ro this
<br />end the provisions of the Dlor[gage and the Nuts arc declared to he severable.
<br />2S. Borrower's Copy. $orrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation 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 wriaen consent. excluding (a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage, fb) the creatio^ of a purchase money security interest for household appliances, !c) a transfer by devise,
<br />descent ur by operation of law upon the death of a lomt tenant or (d) the grant of any leasehold interest of three years or less
<br />nut containing an option to purchase, L.endcr may, a[ L.ender's option, decare all the sums secured by this Dfertgage to be
<br />immediaely due and payable. Lender shall have waived such option m accelerate if, prior to the sate or transfer. lender
<br />and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Linder and that the interest payable on +~ie >ums secured by this Moregage shall be at such rate as lender
<br />shall request if Lender has waived the option to accelerate provided in this paragraph 17. and if Borrower's successor in
<br />interest has executed a written assumptbn agreemen[ accepted in writing by Lender, Lender shall release Borrower from all
<br />obliga!iens under !his Mer!eage and the Neu.
<br />If Lender exercises such option to accelerate. Lender shall mail Bon~ower notice of acceleration in accordance with
<br />pargrph 14 hereof. Such notice shall provide a period of not less than JO days from the date the notice is mailed within
<br />whidt Harrower may pay the sums declared due. If Borrower fails io pay such cams prior to the expiration of such perod.
<br />Lender may, without further notice or demand un Borrower, invoke any remedies permi[[ad 6y paragraph 13 hereof.
<br />Non•UtrtFOasr COVENANTS. Borrower and Lender further covenant and agree as fellows:
<br />18. Aceekratfon; Rerrrediea. Except as provided in paragraph 17 hereof, upon Borrowers breach of any coveount or
<br />agreemett of Borrower in this Mortgage, including the covenaMS to pay when due any sums secured 6y this ;Mortgage,
<br />Lender prior to actreiera@on shall moil notice to Borrower as provided in paragraph (4 hereof specifying: (l) the branch;
<br />(2) the nctron required to cure such breach; 13) a dale, not less than 30 days from the date the notice is mailed to Borrower.
<br />by whielr such breach must be cured; and (4y that failure to cure such broach on or before the dale specified in the notice
<br />may reauh in aecekration of the Burns secured by this Mortgage, foreclosure by judicial proceeding and sale of the Property.
<br />The notice shaft fuathar inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />proeendtvg the ewer-existence of a default or any other defense of Borrower to acceeration and foreclosure. !f the breach
<br />is not cured on or before the date specified in the notice, Lender at Lenders op[bn may declare aft of the sums secured by
<br />this MrrrtEago to be immediately due and payaltk witfiout further demand avd may foreclose by judicial proceeding. Letrder
<br />shalt bo eatlttod to collect in such proceeding elf expenses of foreclosure, including, but nut IimHed to, case of documemary
<br />etrf~se, a~r~ts °°° utfa reports.
<br />a, ii®rtuwers Right io Reiosiate. Noiwiihstanding Lender's acceleration of the sums secured by this Mortgage,
<br />Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage diuontinued at any time
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