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<br />Lex written agstenttat ~ applicable law. Borrower shall pay the amount of ail mortgage itrsurarecc pr9prtitErnts in the <br />enarmcr provided order part~glt 2 isareot. <br />Any amcwaa disbtused by Lender purr.rant to this paragraph 7, vritlr interest rhentwrs, alsall btconu a0ditional <br />indebtedttem of Borrower aeetrred by this Mortgage. Unitas Borrower and Lender agree to other terms of psyr~tt, <br />it116atY~ theft be payibk npcxr rtotice iron Lender t6 HQRbwtr regtttsiifig paytrtmt iherfof, and Shall beu ittttrtse a.:.~.: the <br />dam of dhtrtarsement at the raft payable from titnc to time on oumanding prin..^ipal under the Mott trrttew pttyasent of <br />interest at such raft wand be contrary to applitxhk law, in which event such amotmtr shalt bear imerest at the highest rue <br />ptrrni tinder appyicabk law. Nothing tmrttaitted in this paragraph 7 shall require Lender to itrctrr any expense or trite <br />any action hereunder. <br />t!ti Taagaedar. Lender may make or cause to be made reasonable entrles upon and itrspectiom of the Property, provided <br />that Lender shall give Borrower Weis prior to any such inspection specifying reasonable caust therefor related to Lender's <br />interest in the Property. <br />3. Tbe proceeds of any award or claim for damages, direct or consequential, in connectlotr with ~y <br />condkmnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, art hereby aasigered <br />and-shad be paid to Lender. <br />Tn 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 Properry, unless Borrower and Lender <br />otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such propertirm of the proceeds <br />m is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of <br />taking bean to the fair muket value of the Property immediatey prior to the date of taking, with the balance of the ptocetds <br />paid to Borrower. <br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condeasnor otfma to make <br />an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such itotiee is <br />mu'W, Leader is authorittd to collect and apply the proceeds, at Lenders option, either to restoration or itspair o[ tlse <br />Property or to the sums secured by [his 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 to in paragraphs I and 2 hereof or change the amount of <br />such installments. <br />10. borrower Not Released. Exeension 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 releau. in any manner, <br />the liability of the origiml Borrower and Borrower's successors in interest. Lender shall not be required to commence <br />proceedings against such successor or refuse to extend time for payment or otherwise modify amortiution of the sums <br />secured by this Mortgage by reason of any demand made by the original Borrower and Bortower's successors in interest. <br />17. Borbearance by bender Not a Wdver. Any forlxarance by Lender in exercising any right 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 payment of taxes or other liens or charges by Lender shall not be a waiver of Leoder's <br />right to accelerate the maturity of the indebtedness secured by this Mortgage. <br />12. Resnedks Cmnttbrtlve. All remedies provided in this Mortgage are distinct and cumulative to any other right or <br />remedy under ibis Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively. <br />13. 9aeteaoss astd Assigns boawd; Joint and Several f.iabibry; Captioes. The covenants and agreements herein <br />wntained shd! bind, and the rights hereunder shalt inure to, the respective successors and assigns of Lender and Borrower, <br />subject to the provisions of puagraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. <br />The captions and headings of the puagraphs of this Mortgage are for convenience only and are not to be used to <br />interpret or define the provisions hereof. <br />14. Natke. Except for any notice required under applicable law to be given in another manner, {a) any notice to <br />Borrower provided far in this Mortgage shall be given by mailing such notice by certified mail addressed eo Borrower at <br />the Property Address or at such other address as Borrower may designate by notice fo Lender as provided herein, and <br />(b) any notice to Lender shall be given by certified mail, return receipt requested, to Lenders address stated herein or to <br />such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this <br />Mortgage shall be deemed to have been given to Borrower or Lender when given in the rnanner designated herein. <br />15. Uniform Mortgage; Governing Law; Sevenbbity. 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. 'finis Mortgage shall be governed h~ the taw of the iurisdiction in which the Property is located. In iht <br />event that any prevision or clause of this Mortgage . r the Note conflicts with applicable taw, such conflict shat! rot affect <br />other provisions of this Mortgage or the Note which can be given effect without the conflicting provision. and to this <br />sod the ~rovisio~s of t`ns Moregags and the Note rare declared iv i?t +ererable. <br />16, borrower's Copv, Borrower shall be furnished a conformed copy of the Nott_and of_ihi4 Mortgage at the time <br />of execution or after recordation hereof. <br />17. Transfer of the Properly; Assumption. If all or any part of the Property or an igtirreettbertin is [told 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 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 (d) the grant of any leasehold interest of throe years or less <br />not containing an option to purchase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be <br />immediately dot and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer. Lender <br />and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person <br />is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender <br />shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrowers successor in <br />interest has executed a written assumption agreement accepted in writing by I_tnder, i_tnder shall release Borrower from ail <br />obligetioers under this Mortgage and the Note. <br />If Lender exercises such option to accelerate, Lender shall mail Harrower notice of acceleration in accordance with <br />paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the naicc is mailed within <br />which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period, <br />Linder may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 1 g hereof. <br />IVOtv.UNrt+oaM CovaN,serrs. Borrower and lender further covenant and agree as follows: <br />1& Atcekralf~; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's brrub of any coretuat or <br />agseepPnt of Borrower in tbls Mortgage, including the covenants to pay when due nay soars secartd by this Mortgage, <br />LetiteNl Pf1or to secebrrttlaa shag mail nolke to Borrower as provided is ptieagraph 14 hereof specifyhtg: (1) the breacb; <br />(2) ikte~action regttitted to crave such breach; 13) a date, not less than 30 drys from the dale the notice k moiled to borrower, <br />wl~eb sack breacb nowt be cared; and (4) that failure to cure such breach o0 or before the date specified in the nofice <br />oay rsark h accebratioa of the snms secured by this Mortgage, foreclosure by judkid proceeding and oak of the Property. <br />The taatke abtdl farther Warm Borrower of the r~ht Io reinstate after aceekratioa and the right to asaeA is eke foreclosara <br />procaadiag tits ttontsktttmtce of a default or any other defense of Borrower to acceleration and forechrwre. U the breacb <br />b not tared on or before the date specified in the notke, Leader at Lender's option may declue aY of the saws secured by <br />thls Mortgage to be Immedbtely tine sad payable without further demand and may foreclose by judkid proceeding. f.eadu <br />sbaY bs ertlMld m eoliaN In each proeeadlsy aq expetres o[ forecbsure, including, bat not Hmktd to, cops of dacatoenhry <br />evlisrce, absRracb sad IMIe rsporb. <br />19, barrower'a Rlgbt to Reinstate= Nptwithstanding Lender's acceleration of the sums secured by this Mortgage. <br />Barrowe: shat! have the right to have any proceedings htgun by Lender to enforce this Mortgage discontinued at any time <br />