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<br />Form 808 13 ~~} e~
<br />fi~i., rl9
<br />Lender's written agreement or applicable law. Borrower shall pay the amoum of aB mortgage insurance premiums in the
<br />manner provided under pazagraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower sectued by this Mortgage. L'rtess Borrower and Lender agree to other terms of payment, such
<br />amounts shall be payable upon notice from Lender to Borrouzr requxsting payment thereof, and shall 'Dear interest from the
<br />date of disbursement at the rate payable from time to time on outstanding principal under the Noie unless payment of
<br />Snterest at such rate would be contrary to applicable law, in which event such amounts shall bear ineerest at the highest rate
<br />permissible under applicable taw. Nothing contained in this paragraph 7 shat! requite Lender to incur any experrse or take
<br />any action hereunder.
<br />g. iuspectioo. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shaft give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condemnation. The proceeds of any award or claim for damages. direct or consequential, in connection with any
<br />tondzm.^.ation or other taking of the Property, ar part thereof, or for conveyance in lieu of condemnation, are hettby assigned
<br />and shall be 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 an}'. 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 bears [n 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 />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 damages, Borrower fails to respond to Linder 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 s_ s szc±==rid by this Mortgage.
<br />finless Lender =and Borrower otherwise agree in writiog. any such application of proceeds to principal shall not extend
<br />or postpone the due dare of the monthly installments referred to in paragraphs ! and ?hereof or change the amount of
<br />such installments.
<br />10. Borrower Nat Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mottgage granted by !.ender te. 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 inerest. Lender shall not he required to commence
<br />proceedings against such successor nr refuse to extend time for payment or atherw•ise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest.
<br />ll. 'Forbtarance b}• lender Not a Waiver. .4ny forbearance hp Lender in exercising am• right or remedy herea.mder, or
<br />otherwise afforded by applicable law, shall not he 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 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 are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br />13. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein
<br />contained shall bind. and the rights hereunder shall inure m, the respective successors and assigns of Lender and Borrower.
<br />subject to the provisions of paragraph 17 hereof. .411 covenants and agreements of borrower shall he joint and several.
<br />The captions and headings of the paragraphs of this Mottgage arc for convenience only and are rot to be used to
<br />interpret ur define the provisions hereof.
<br />14. Notice. Except for any notice reyuired under applicable law to hz given in another manner, (a) any notice to
<br />Borrower provided for in this 34odgage shall he given by mailing such notice by certified mail addressed to Borrower az
<br />the Property Address or at such ether address as Borrower may designate by nerice to Lcoder as provided herein, and
<br />tb} arty notice to Lender shall be given by certified math return receipt requested. m t_endzr's address stated herein or *.o
<br />'titiS:h other address a=_ Lender may designate by notice to Berrrn;°cr as provided i:ercin. :iny notice provided for in this
<br />Mortgage shall be deemed to have been given 'In Borrower or i.,cnder when given in the manner designated herein.
<br />l;x. IJnlfnr..iartgagz; i;averniag Law; SzverablBty. This Corm of mungage camb•:nzs unifo€m covenants far national
<br />use and non~unifemt ce-venants v~ith limited varia[i.~ns by jursdiction ro constinrtc a uu.fatsn security instnimem wvzring
<br />real property. -Phis Mortgage shall tie governed by the law o[ the jurisdiction in which the Property is located. in the
<br />event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
<br />other provisions of this Mottgage or the Note whsh can he given effect without the conflicting provision. :rod to this
<br />end the provisions of the Mortgage and the Note arc declared u+ be severable.
<br />16. Borrowers Copv. Borrower shall he furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or alter recordation hereof.
<br />12 Tramfzr of the Property; Assumption. IC all or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of :; purchase money security interest inr household appliances, fcl ^ transfer by devise.
<br />descent ar by operation of law upon the death o(a joint tenant or ldl the grant of any leasehold interest of Three years or less
<br />not. containing an option to purchase, [_ender may, at Lender's option, declare all the sums secured by this Mortgage to he
<br />immediately dui and payable. Lender .hall have waived such option to accelerate if prior ut the case ar transfer. Linder
<br />and the person to whom the Property is to be sold ar transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable nn the sums secured by This Mortgage shall be at such rate as' !.ender
<br />shall roquest. If Lender has waived the option to accelerate provided in Ibis paragraph 17, :rod if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by (.ender, Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option to acceler;ue. Lender shall mail Rorrow•zr notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of nn[ less than 30 days tram the dote the notice is mailed within
<br />which Berrowcr may pay the sums declared due. If Rorrrnver fails ro pa}• such sums prior to the espiruinn oC such period,
<br />Lender may, without further notice or dzmimd on Borrower, invoke ^m remedies permuted by paragraph 18 hereof.
<br />-- NoN-lJ r+moant Covt=tanNi's. Borrower and Lender further covenant and agree as follows:
<br />Ig. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />.agreement of Borrowed-in this Mortgage, including the covenants in pay when due any corns severed by this hlorlgage.
<br />leader prior to accelerefwn stroll mail notice to Borrower as provided in paragraph 14 hereof specifying: 11) the breach:
<br />-' (2) the action required to cure such breach; (3) a dolt:, not less than 30 days teen the date the notice is maBed to Borrower,
<br />,by which such breach must tie cored; and {4) tfiat failure to cure such breach on or before the date specified i» the notice
<br />ckmay result in acceieraitoa of the sums secured by this btortgage, foreclosure by judicial proceeding and sale of the Property,
<br />- The notice shall further i»form Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />proceedi»g the rton-existence of a default or any other defense of Borrower to acceleration and forceiosure. If the breach
<br />is not cured on or before the date specified in the notice, Lender at Lender's option may dea•lare all of the sums secured 6v
<br />this Mortgage to he immediately due and payable without further demand and may foreclose by judicial proceeding. Lender
<br />shall tie entitled to collect io such proceeding ail expenses of foreclosure, including, but not limited to, costs of documenren•
<br />evidence, abstracts and title reports.
<br />19, Borrower's Right to Reinstate. Nouvithstanding L.euder's accelcrxtiun oC the sums secured by this Mortgage,
<br />llorrouer shall have the right to have .my proceedings begun by !.ender to enforce this Mortg:+ge discontinued at any time
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