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<br />Lender's written aareemeat or applicable Iaw. Borrower shall pay the amount of all mortgage insurance premiums m the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Leader pursttant to this paragraph '. with interest thereon. shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lendn agree to other terms of paytnem, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br />daft of disbursement at the rate payable from time to time on outstanding principal under the Note unlesx paytneat of.
<br />interest at such rate would be contrary to applicable law, in which event such amounts shall liar interest at the highest rate
<br />ptrttiissible under applicable taw. Nothing contained in this paragraph 7 shah requite Lender to incur any er:pease or take
<br />nay action hereunder.
<br />8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related [o Leader's
<br />interest in the Property.
<br />4. 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. are hereby assigned
<br />and shall (x paid to Lender.
<br />In the event of a total taking of the Properly. 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 Lettder
<br />otherwise agree in writing, there shall be applied to the sums secured by this Morcgage such proportion of the proceeds
<br />as is equal to the[ 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 [o Borrower.
<br />If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor ofd:rs to mace
<br />an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date retch notitt 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 Mottgage.
<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 I and ?hereof or change 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 />6y this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any maatter,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shah not be required to commrnce
<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 o[ any demand made by the original Borrower and Borrower's successors in imerest.
<br />11. Forbearance by Lender tint a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded 6 a treble law,,~hall rot be a waiver of or pmlude the exercise of any such right or remedy.
<br />Tht pr ±t~ttra~e;ar the payment of taxes or offer liens or charges by Lender shalt not be a waiver of Lender's
<br />right to c to t~3,4tpr,E.oEttse=3itdebtedness secured by this Mortgage.
<br />12 R - ``AP~i'e~edies orovided in this '.Mortgage are distinct and cumulative to any other right or
<br />remedy un er is orcgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br />13. Successors and Assigns Bound; Joint need Sevenf [.iaM7ity; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall more m. the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph f7 hereof. All covenants and agreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs ut this Mortgage are for .anvenien.e only and are not to be used to
<br />interpret or donne the provisions hereof.
<br />14. \otice. Except for any notice required under applicable Iaw ;o be given in another manner fa) any notice to
<br />Borrower provided for in this Morgage shall he given by mailing such nonce 5y certified mail addresxd to Borrower at
<br />the Property Address or at such other address as Borrower may designzte b}, noriu to Lender as provided herein, and
<br />(b) any notice to Lender shall be given by certified math return receipt requested, to Lenders address stand herein or to
<br />such czhtr address as Linder may desi¢nate 6y notice to Borrower as pravidcd herein. Any ncti:.e provided for in this
<br />Martxa,~e sh,il be --mod to have been riven to 8arrower a- Lender when ~rtvert in the manner desi;nttated herein.
<br />2S. Uniform tilot•~sa¢e; Governing Law: Severabiiih. This form of mortgagee combines uniform covenants for national
<br />use and non-uniform wvenants with limited variations by jurisdietitrn to constitute a um€orm secunty instrument covering
<br />real propem~. This Mortgage shall be governed by the law of the iurisdicnon in which the Properrv is Ixated. in the
<br />even[ chat any provision or clause of this Mortgage or the dote condicts with applicable Iaw. ,q~r. rondict shat( not affect
<br />other provisons of this 4fortgage or the Mote which can be given effect without the eondicting provision, and to this
<br />end the provisions of iht Mortgage and the vote are declared to he severable.
<br />16. Borrowers Copy. Borrower .hall be furnished a informed copy of the Vote and of rhis Mart¢age at the time
<br />of execution or after recordation hereof.
<br />17. Transfer of the Properly::~ssumption. If all or any Dart of the Proaem or an interost therein is sold or transferred
<br />by Bcrrnwtr wnhout lender's pnor written consent, excluding la) the creation of a lien or encumbrance subordinate to
<br />thts Ziertgage. tb) the creation of a purchase money securin• interest for ttousehold aaptiances, Ic1 a transfer by devise.
<br />descent or by optratior, of lain upon the death of a joint tenam or tdl the grant of any hasehold interest of three years or less
<br />not containing an option [o ourchast. Lender may. at Lender`s option. declare ail the sums secured by this Mortgage to be
<br />immediately due and payable. Linder shall have waived such option to accelerate .f. prior to the ,ale or transfer. Lender
<br />and the person m whom the Property a to be sold or transferred reach agrttmrnt in wrung that the credit o[ such person
<br />is saGsfactary to Lendtt and that the interest payable on the sums secured by this bfor[gage shall ht a[ such rate as Lender
<br />start! tequtst_ if Ltndtr has waived the option to accelerate provided in this paragraph 1 r. and if Borrower's successor in
<br />interest hu executed a wriuen assumption agreement accepmd in wrong by Lender. Lender shall release Borrower from all
<br />obligauons under this Mortgage and the Note.
<br />If (.ender exercises ouch option to accelerate. t_tnder shall mail Barrewer notice of acceleration in accordance with
<br />para(trapi: is t~treof. such nceice shall provide a period c( not :ass than '0 da}~; from the date the notice is mailed within
<br />..-filch Borrowre may pay :hc sums declared due. if Borrower fails •a paF~ such .tams pnor to the rxpiraaon ~+f such perod,
<br />Lender may. -w~nhout further notice or demand on Borrower, ,nvokt sm• remedies prrm~ued t+} paragraph :y hereof.
<br />Nov-liuteoant Conti •eNrs. Borrower and Lender further covenant and agree as follows[
<br />ig. :1cttMration; Remedies. Except as provided in paragraph 17 hereof, upon Borrowers breach of any covenant or
<br />agrretmM Of BaffOWpr in the ~tortguge, includinK the caven:fMS to pay when due any sums secured 6y thin \lerlgage,
<br />Lender prior to acceleration shall mail notice to Borrower as provided in paralraph li hereof specifying: (i) the breach;
<br />(Z) the action required to core such breach; 13) a date, nul tens than 30 days from the date the notice is mailed to Borrower,
<br />by which sneh breach most be cured; sad (3) that failure to cure such breach on or before the date specified in the notice
<br />may result in acceleration of the sums secured by this ~1ortgage. foreclosure by judiciaf proceeding and sale of the Property.
<br />The notice shah fuHber inform Borrower of the right to reinstate after acceleralion.and the right m assert in the Fnretimure
<br />groteeding the non-existence of a default or any other defense of Burrower to acceleration :+nd foreclosure. U the breach
<br />is not cured on or before the date spee>ced in the notice. Lender at Leader's option may declare ai! of the sums secured by
<br />this Alartgage to be trrimedisiely due and payable withon[ furiher demand and may foreriose by judicial prxeeding. Lender
<br />shaft `ve entitled to toilect ir, such pry -etdsag ail expenses of foreclasura, includirr~g, but not limited [o. costs of documentary
<br />4Yldente. alt~stratts cad title reports.
<br />iq, $nrrawers iiSght to Raittctate. Notwithstanding Lender's accreration of the sums secured 6y this ~lortgagt.
<br />Borrower shall have the right ro have any proceedings hegun 6y Ltndtr to enforce this Mortgage iiiscontinued at any ume
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