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<br />Ixnder's written agreement or applicable law. Borrower shalt pap 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, shah 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 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 paytrtent of
<br />interest at such rate would be contrary to applicable taw, in which event such amounts shall bear interest at the 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 />& irtspecfian. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender snail give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />4. Condemmtion. The proceeds of any award or claim for damages, direct or consequentiah in connection with any
<br />condemnation yr other taking of the Property, or pan thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shalt 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 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 he 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 privy to the date of
<br />taking bears to the fair market value of the Property immediately privy to the date of taking, with the balance of the proceeds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower. yr if, after notice by i_ender to Borrower that the condemnor offers to make
<br />an award or settle a claim for damages, 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 />Propzrh• ar ro the sums secured by this Mortgage.
<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 ro in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />16. Borrower Nof Released. Extension of the time far payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release. in any manner.
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shall not he 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 Morgage by reason of any demand made by the original Aorrower and Borrower's successors in interest.
<br />11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any ri¢ht 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 p;ryment of taxes or other liens or charges by Lender shall not he a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this Mortgage am distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equity, and may he exercised concurrently, independently yr successively.
<br />23. Successors and Assigns Iinund; feint and Several i.iability; Capfions. The covenants and agreements herein
<br />contai.^.ed shxli hind, and the rights hereunder shall trove to, the respective successvts and assigns of Lender and Borrower.
<br />subject to the provisions of paragraph l7 heron(. Ail 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 er define the previsions hereof.
<br />I4. Notice. Except for any notice required under applicable taw to be given in another manner (a) any notice to
<br />Bvrrr,wer provided For in ,his Mvrtgage shalt he given by mailing such notiez 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) a.^.y notice !v Lender shall he given by certified mail, return receipt requested, to Lender`s address stated herein or tv
<br />such other address as [.ender tnay desienate by notice to Borrower as provided herein. Anv nptice pMVided 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; Severability. 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 Mvrtgage shall be governed by the law of the jurisdiction in which the Property is located. Tn the
<br />event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shah not affect
<br />other provisions of this Mortgage or the Nvte which can be given effect without the conflicting provision, and m this
<br />end the provisions of the Mortgage and the Note are declared to he severable.
<br />16. Borrower's Copy. Borrower shall he furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after reaxdation hereof.
<br />t7. Transfer of the Property; Assumption. If all or any part of the Property or an interest therein is sold or transferred
<br />6y Borrower without Lender's prior written consent excluding (a) the citation of a lien or encumbrance subordinate tv
<br />this Mortgage. (b) the crervion of a purchase money security interest for household appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or (dl the grant of un}• leasehold interest of three years or Izss
<br />not containing an option to purchase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to he
<br />immediatel}• due and payable. Lender shall have waived such option to accelerate if, prior nt the sale or trans(e r, Lender
<br />and the person to whom the Property is ro ba sold or transferred reach agreement in writing that the credit of such Ix tson
<br />is satisfactory to Lender and that the imeres[ payable on the sums secured by this Mortgage shall he at such rate as Lender
<br />shalt request. If Lender has waived the option to accelerate provided in this paragraph l7, and if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br />obligations under this Mvrtgage and the Nvte.
<br />If [.ender exercises such npdon to accelerate, Lender shall mail Borzower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of nut less than 3tl days front the dote the notice is mailed within
<br />which Borrower may pay the sums dcclarzd doz. If Borrower tails ro pay such aims prior to the oxpirativn of ;ueh period,
<br />Lender may, without further notice or Jernard on Borrower, invoke any remedies permitted by paragraph IR herep(.
<br />NON-UNIFORM COVENANTS Borrower :rod Lender further covcnnnt anJ agree as 1vBowa:
<br />Ig. Accekratiou; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any corenam or
<br />agreement of Borrower in this Mortgage, including the covenants to pay when due any sums secun,~d by this Mortgage.
<br />Lender prior to accekratioa shag mail notice m Borrower as provided in paragraph t4 hereof specifying: ll1 the breach;
<br />f2) the action required to cure such breach; i3) a date, nut fens than 30 days from the date the notice is mailed to Borrower,
<br />by which such breach must be cured; and (31 that failure to cure such breach vn or before the date speclfieJ in the notice
<br />mny result in acceleratioa of the sums secnred by this Mortgage, foreclosure by judicial proceeding and sale of the Property.
<br />Tire notice shall further iafornt Borrower of the right m reinstate after ucaelaration and the right to assert in the [oreclosuro
<br />proceeding the two-existence of a default or any ahoy defense of Borrower to acceleration and foreclosure. If the breach
<br />is not cured nn or before the date specified io the notice, fender at Lender's option may declare all of the sums secured by
<br />thk 149ortgage to be immediately due and payable without further demand and nmy foreclose by judicial proceeding. Lender
<br />stroll fie entitled to rnBect in such proceednag alt expenses of foreclosure, including, but rmt limited to, costs of documentary
<br />eridenee, abstracts and title reports.
<br />I°r. ;'a.°, :awz: s k~'a9 ire 1'aci°.w'tate. Notwithstanding Leader's ncceleratior. of th.: sorts s$curcd by this Mprtgugc.
<br />Parrawer sh II have the right to nova ary proceedings begun by Lender u? cnlprm- this Mvrtgage discpr,;uwed at any time
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