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80-i 005Q4S
<br />Lender'e 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 pursucnt to this paragraph 7, with jnterest thereon, shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />atttounts shall be payable upon notice from T-ender to Bnrcower requesting payment thereof. and steal[ bear interest from the
<br />date of disbursement at the rate payable from time to time an outstanding princpal under the Note unless payment a€
<br />interest a[ such rate would be contras to applicable Vaw, in which event such amounts shalt hear interest of the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or fake
<br />any action hereunder.
<br />8. ingtectit>A. Lender may make or cause to he 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 to Lender's
<br />ittteres[ in the PropetCy.
<br />9. Condemnattaa. The proceeds of any award nr claim for damages. direct or consequential, in connection with any
<br />con~mnatictn or ottaer taking of the Propett}•. ar part thereof. or for conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />in the event of a total taking of the Property, the proceeds steal! Ile 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, them shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br />as is equal to that proportion which the amours of the sums scented by this \lorigage immediately prior to the date Of
<br />taking bears to the fair market +alue of the Property immediately prior to the date of taking, with the balance of the proceeds
<br />paid to Borrower.
<br />If [he Property is abandoned by Borrower. or if, after notice by Lender ro Bortnwer that the condemnor offers to make
<br />an award ar settle a claim for damages, Borrower fails to respond to Lender within i0 days after the date such notice is
<br />mailed, Lender is authorized to collect and apph• the proceeds. at tender's option, either to restoration or repair of the
<br />Property nr to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing. anc such application of proceeds to principal shall not extend
<br />ar postpone the due date of the monthly installments referred ro in paragraphs 1 and 'hereof or change the amount of
<br />such installments.
<br />1@. Borrower Not RelteaseJ. Extension of the time for payment or mndificatinn of amartizatiar+. of the sums ~tecured
<br />by this Mortgage granted by Lender to any successor in intercu of Borrower shalt not aperale to release, in any mantrer,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br />prtrtga against such ~ucae:sa: _. ..rtt eYte..t .im r:. .~.. .;tl:erz .. ,,,na~r., ...,.....~... „f the s:r::s
<br />secured by this bfortgage by reason of any demand made M- rtes nrigmait Bnrmwer and Bormwer'sVsuccessnrs in interest.
<br />1L F _ Wtu~er. 4nv ;orhearance be Lender m erernsing anc right or remedy hereunder, or
<br />otherwise afforded ltilw'1aat!'.'!f! a waiver nt nr preclude the exercise of an}' such right ar remedy.
<br />The procurement bf r ' ~~taptes ar ether terns ter charge. by Lender shall sat he a waiver of I.endei s
<br />right to accelerate '- " ~=securcd by th;~ Mortgage.
<br />t2. Rewediet CtttnaWire. .All rem 3ies"provided in this liartgage are distin.t and ~umttiative to any other right or
<br />remedy ender flits Mortgage or afforded by law nr egmty..rod mac be e+eretsed mncm-renilc, independently or successivety.
<br />13. Sr.ecessors aed AsaiBas board: krirt and Several tdahtAity; Captions. The covenants and agrcemrnts herein
<br />contained shall bind. and the rights hereunder shat! :sure to. rtes n:specuve successan and assigns of lender and Harrower.
<br />subject to the provisions of paragraph !' hereof Ail ::ovenants and acreemems of Borrower shall be faint and several.
<br />The captions and headings of the paragraphs of this Mortgage art far convenience only and are not to tx used to
<br />interpret or define the provisions hereni.
<br />10. Notice. Eaeepi far any nonce required under applicable law to be given m another manner. ta) anc notice tc
<br />Born.+wer provided far in this Martga¢e shall he even hF maalirg .uch nartce he certified mail addressed to Bnrmwer at
<br />the Property Address or at such other address as Bormu~er roan daegnate by notice to Lender as provided herein. and
<br />fb) any ttatice to Lender shall he gtvcn by certified matt. return rerctpt requested. to Lender's address stated herein or to
<br />such other address as Lender may designate M~ notice to Barneuar as provided herctn. Any notice provided far in this
<br />Mortgage shalt be deemed to have been elves to Bnrmwer or !ender when grve^ in rtes manner designated herein.
<br />1S, Uaifww INor•11LaRr': Guvernitgt taw; Severttbaity. Th,s form of mangage combines uniform covenants lot national
<br />lase and tmn-uttifarnt eavenanis with iimitcd vanaut>ns by junsd:cnan to constitute a uniform secuntc ,nstrumeni covering
<br />real property. This Mortgage shall tse governed h+, ;i:e law of the iurisdicuan in which !fie Property ~. located. In the
<br />event that any provision ar clause of this Mortgage nr the Noce conflicts ~.vith applicable law, such a±nflict chap sat affect
<br />other provisions of this Mortgage or the Vatc which can be ernes eticct sa~ithout [he cantltcting provision. and ro this
<br />end the provisicma of the 1LMtgage and the Vcrte are declared to t>e severable.
<br />lit Bwwwer's Copt. Borrower shall br furnished a canfnrmed =ai?y n# rite time anJ of this Mortgage at the time
<br />of exa`fttian ~ after rec,ardaiian hereof.
<br />37. 7}wafer of t-e itspeety~; Asptteptiow. If all nr any Hart of the Property of an interest therein is sold or transferred
<br />by Borrower without Leader's poor written amsenL excluding tat the station at a lets nr encumbrance subard:nate to
<br />this Mortsage, {bj the creation of a purchase money secunry mterzs•i for hnvselxlJ appliances. ict n transfer by devise,
<br />descent nr by operation of law upon ttte death of u lauu tenant or tdl the grant nt any leasehold interest of three gear, or less
<br />trot containing an option to purchase, Lender ma}, at Lender"s apuon. decJan ell the cum. secured by ihts Mortcage to be
<br />ttrutteciiately dye attd payable. Lender shall have warned such opurm to aaelerat :t, prior to the sate nr transfer. !..ender
<br />and the person to whom tht Progeny i. to he sold or transferred reach agreement ,n wr:tmg that the credit of such person
<br />is saiiafaCioi}• to Leader grid that the interest payable on the some secured hr this 'mortgage steal! be at such rate as I_endrr
<br />shat! ruinest. if Lender has waived rite option to accelerate prov'idesl in this paragraph 17. anef :f Bnrriws;r successor in
<br />interest has execvtted a wretten assumption agreerrtent accepted in writing by Lender. Lender .bait releax Borrower from all
<br />obligations wader this Mortgage and the Vote.
<br />If Leader extrcises Such option to accelerate. Lese:Ser shall marl Borrower notice of ac.clerauon in accordance with
<br />pars=taph Id ?aersof. Such native shall pravede a penoet of sat less than ?t) days from the date the narK~e is mailed within
<br />witvch Borrower may pay the .scents dectareci dur. If Barrauer foals o pay such vtms pr:ar *.., the ccpiratian of such pertad,
<br />Lender may, without further trotter nr dcmattd c r, Borrower, invoke ar.} rzrnedies permuted by paragraph I ri hereof.
<br />?,lt1w-;}nut~MM Ctsvp!r-Ats;TS. Borrower <ttd i.etufer lusher cintnaat and agrt~c as ieilaws~
<br />lt. Accdstalian; lkrtd4e. Eaeept as provide] ~ paragraph 17 hereof, upon Borrower's hrerup of my covenant m
<br />«~arl d lKrawar s trio 1{grl{agc, iacladntg tYe covenants fa pay when doe any sand secured by thu Marl`sgc,
<br />f+attiJat M1a N aeaxYr~iatt sMaB roil notice to )larrrwt-er a` prasided in ptrraRraph ti htreoi specifying: t!) the breach;
<br />(11 tis atcYan rtryaurN ~ cote sortie 6rearcht t3! a date, not Ius tiers J@ days front the slate the ttalicc h mailed to Borrower,
<br />BY wrlA aicit htpci tttrW 4 ctsneJ: atrJ i6) t!lttt failttrr to care swc3 breach on or before the date specified in the twtice
<br />stag' nwlB 4,~ of tYe sews secttrrd by lY~ Nartgage. [ortclotrare by jaJicira prucecdiag and sale .d the Property.
<br />7La taalias to6aM fwtYet totals Batwwer of the rig-i to rtittefate after aceekratrou and lilt right to asuert in [he fruecimuru
<br />MEaCaMiaB ~ ttotseaiWtncs of a defark or any other defense crf Borwwtr .o accehtrtrtbn cad foreeiuwrv. 1f the breach
<br />itttaw attteJ art ar Iatue ills Jots trpaifaJsa the tw-icq Lendu u 1xttJet'a optics may declare all of the sums secured 6r
<br />Ala fMsryft/it fa 1te iaaataJlrafslx Jae rtrJ pryaitle wifftorf farther deautod arJ rwy forecb,e by jrutieiai prttceediwg. Lender
<br />rhaB 1s saUllatl N raiaat is such prerssJiag rJ! expanes M f~cefa ore, lac#aaVyt, bet trot lita:ited tu, costa of dwumetstaey
<br />sviJance. alailracts art tftfe repotb.
<br />111,, lata~ww'a ~ M RliartaM. Nntwdhstandmg Lender's n+ct=eratxosa of [tn: .ams :,rnrrr:d h} di[. Mattg:;gc.
<br />B,<xTttlw4t .hail have Cho t~ht its have Any prtix.xeuirgs begun b} I casdt7t m errfnrt`e. this Mortgage dttcununs;ed at asp tame
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