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<br />Lender's• written agreement or applicable law. Bon~ower shall pay the amount of all mortgage insurance premittms in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Aorrower and Lender agree to other terms of payment, such
<br />amounts shall be payable upon notice from bender 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 />intaresC at such rate would be contrary to applicable law, ;n 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 />8. inspection. fender may make or cause to he made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give $orrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />4. Condemtrstlon. 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 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 any, paid to Borrower. in the event of a partial taking of the Property. unless Borrower and Ltndtr
<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 b7 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 m Borrower.
<br />If the Property is abandoned by Borrower, nr if. after notice by Lender to Borrower that the condemnor offers to make
<br />an award or settle a claim far damages. Borrower fails to respond to Lender within 30 days after the dart such notice is
<br />mailed. Lender is authorized to collect and apply the proceeds. a[ Lender's option, either to restoration or repair of the
<br />Property or to the sums secured he this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, am' such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in para_raphs 1 and 2 hereot or change the amount of
<br />such installments.
<br />t0. Borrower Vol Released. Extension of the time for 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 be required to commence
<br />proceedings against such successor nr refuse Co extend time far payment or otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors fn interest.
<br />11. Forbearance 6y Lender Nut a R'aiver. Atrv forbearance by Isnder in exercising any right or remedy hereunder, or
<br />otherwise afforded M' applicable law, shall not he a waiver of or preclude the exercise of any such right ar remedy.
<br />The procurement of insurance or the payment of taxes or other !lens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. Alf remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded he law or avails. and mac bt exercised roncurremiy. independently or successively.
<br />13. Successors and Assigns Bound; Joint and Se.-era) Liabil)h•: Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective sucec~ssors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph I? hereof. .All covenants and agreements of Borrower shalt be joint and several.
<br />The captions and headings of the paragraphs of this Moneage are for sm•enience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable law u, be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall he given bt mailin_ .uch novice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower ma~~ designate by notice to Lender as provided herein, and
<br />(b) any notice to Lender shall be given by certified mad. return receipt requested, to Lender's address stated herein or to
<br />such other address as Lender mat designate by ^otiee to Barmuer as provided herein. Any notice provided for in this
<br />Mortgage shall he deemed Co have been gtven to Borrnuer or tender when given in the manner designated herein.
<br />15. Uniform Mortgage; Governing law; Severability. i his focal of mortgage combines uniform covenants For national
<br />use and non-uniform covenants with limited •.ariationr he air+sdiction a+ constitute a uniform security instrument covering
<br />real property. This Mortgage shall be ;;Queened ht the !au ++( ;he jurisdiction ir, which the Property is located. In the
<br />event that any provision or clause of this Morgage rr the V,,re conflicts with applicable law, such conflict shalt not affect
<br />other provisions of this Mortgage or the '`tote whtcir can !+e _i:-c^ effen without the conflicting provision, and to this
<br />end the provisions of the Mortgaga and the Noe are .lectured to be severable.
<br />16. Borrower's Copy. Borrower :hall be ftrznished a ,on(ormed app} of the Note and of this Mortgage at the time
<br />of execu[ien or after recordation hereo€.
<br />17. Transfer of the Property; Assumption. If all ,a' any ;+art of the Property or an interest therein is .old or transferred
<br />by Borrower without Lenders prior written a+usent. a•cduding ~.,1 the ercation of a lien or en..umbranct subordinate to
<br />this Mortgage, (b) the creation of a purchase money acurity tnterest for Household appliances. +cl a transfer hr devise.
<br />descent or by operation of law upon the death of a joint tenant +~r ' -
<br />Lender may, at Lender's option. declare all the sums seared by this Mortgage to be
<br />immediateh• due and payable. Lender shall have waived ,ugh option u+ .rccelerate if. prior [o the sale or transfer. I ender
<br />and the person to whom the Property is to be sold ur vansierred reach agrecmer.t in writing chat the credit of such )x rxan
<br />is saiisfactor}' to Lender and that the intere,t payable on the ;..m, secured ha phis Mortgage shall he at such rate as Lender
<br />shall request. If Lender has waived the option to accelerate prn~dcd :n :h., paragraph I7..end it Borrawer~s successor in
<br />interest has executed a written assumption agreement accepted in ~.viang by Gender. Lender shall release Borrower from all
<br />abligalions under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate. Lender ,hall marl Butroucr nohee of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of Hai res. +han 30 ciao. front ere date the notice. is mailed within
<br />which Borrower may pay the sums doe i.rred due. if Boraw cr t.,ds ro pa}" such wm> prier m the expiration of such period;
<br />Lender may, without further notice or demand nn Borrc+ucr.ncckc any rentrdie> pcrrortted ht paragraph ;f; hereof.
<br />KON-I)Ntt`OaM ~-OVF.NANT S. BorfllwCr .that LC rider rtn;Her ~~+•. eltant Sad .lClce a.~ (OIIOWS:
<br />1&. Acceleration; Remedies. Except as pros~ided in paragraph t7 hereof, upon Borrower's breach of any covenant nr
<br />agreement of Burrower in this Mortgage, including the rovcnants to pay when due any sums secured by this 4lurlgage,
<br />Lender prior to acceleration shall mail notice ro Borrower as prurided in paragraph 14 hereof specifyinE: (U the breach;
<br />(2) the action requfred to cute such breach; t3) a date, out less than 3U days from the dale the notice is mailed to Borrower,
<br />by which such breach must be cured; and ti) that failure to cure such breach tin oe~ before the date specified in the notice
<br />may result in acceleration of the sonar secured by this .tilorlgage, foreclosure by judicial proceeding and sale of the Property.
<br />'the notice shalt further inform Burrower ui for right to reinstate after acceleration and the right W assert in the foreclosure
<br />proceeding the nun-existence of a default ur any other defame of Burrower to acccleratimt and Grreclosure. !f fhe breach
<br />-is oot cured na or before fhe dale specified in the notice, tender at Lender`s option pray declare :dt of the runts secured by
<br />this Alorigage io be immediately due and pay able without further drmmrd and max furectusc by }udicisl proceeding. leader
<br />shall be entitled to collect in such proceeding alt expenses of furechronre, including, trot out linriled to, costs u[ documentary
<br />evidence, abstracts and title reports.
<br />19. Bwrruweis Righ! to Refrtstale. .,.msi!hstandmg t rode±S , ___,a +ain+e . ± Ox ,tin:~: .:;writ h} tin:, Pt:+r y;.+te,
<br />Borrower shall have the right ±,; h.ne am' nrtnscdu;gs ixgar= h+ I r;idr. ., =.,is+rcr 'in, ~ti.~ngat;r ,iis~.•nut:ura! .u am unr.
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