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Home My WebLink About0730 ~ 8. Inspection. Len~lcr mt?~' muke o~• cuu>~• to I?~• nia~i~• r~:~~uu:?I?1~• ~•ntri~•, u~,uu :uul ins~?crtim?s oi thr Proj?- crtY, provided tl~nt Lender ~halt ~;i~~c 13urro~~•c~r notic~~ ~?riur ~u ,u~~• ,u~•I? in>~?crti~?~~ ~~?c~•if~~iuk rei?son~ble ~•ausc - tl~erefor related to Le~ider's intcrest in thc Yro{~rt.~ . 9. Condemnation. The procee~ls of uu~~ :?~~•anl ur ~•luin~ for ~launu~;es. ~lirect or co~?sequentinl, in conneetion _ ~~•ith any con~lem~~ation or other tnkin~ of the 1'ro~?cri~•. ~~r ~~art thereof, or for rom•eyauce in lieu of conden?n:i- , tion, are herel~y a~~igne~i Anci shall l~e paid to I.ender. i In the e~~e~t of a totnl taking of thc Yro~?crt~•, th~~ ~~roc~~~vl• ~I?nll 1?r a~?~?licrl to thc ~un~s se~~ucccl b~• thi, \[ort- gnge, ~vith the execa5, if :?n~•, ~?aid to Borro~~•cr. l~i th~ c~•ci~t of a ~~:uti:~l takin~; of thc Yropcrh•, unle~~ l3ortower und I.ender other~~•ise agree in ~~ritin~, them sh:~l) he u~~~?li~d to tlu~ ~wu~ se~~i~n~l I?y this \lort~;u~e such propor- tion oi the proceeds i?s is equal to thnt proportion ~~•hi~h tl?c amount oi thc su~ns securc~l hy this \{ortgage imme- ~iiatel,y prior to tlie clate of t~kin~ hcan•to ihe I:~ir ~ua~rkc~t ~•:~h~c oi' thc~ i'ro~?eN~~ iinn~c~lintely )~rior to the date o[ ~ taking, with the bulauce ot tlie p~bceeds p:ii~l to Borm~~•er. ~ If the Property is al~a~~cio~~cd i~~ I3orro~ver or if after »otic~~ 1?~- l.ender to Borm~~•cr thnt the cw~demnor offers to innke an n«•nrd or ~ettle a claim ior ~laiu:~ges, Borro~~•cr fail~ to re~~?ond to I.cuder ~vithin 30 ~iays of the date ~ of sueh notiee, I.ender is :~uthoriz~~cl to collect .ui~! :i~?~~h• the ~?rocce~i~ :it I.ender'~ option eitl~er to restoration or ~ repair of the Propert,y or to the ~~uus seeurc~ci h~• tl~i. \[ortka~e. jlnless I.cnder and I3orro~ver other~~ isc agree in ~vriting, an~ such ~pplicAtion of proceeds to principal sl~all ~ not extend or postponc tl~e duc date of the monthl~• i~~stallu~ents mfcrrcd to in E?ar:?grapli~ l and 2 hereof or i ch~nge the a~uount of such installments. ~ 10. Bonower Not Released. F.xtension of the ti~uc foi• ~~a}•n~ent or malific:?tion of :imortization of the sums ~ secured by this \~lortgage grnnteci i~~ i.ender to nny ~uccecsor in interest of Bormwer sl~all not opernte to release, in nny mnnner, thc IiAbilit~ of the original Rorro~~•cr ancl Rorro~~•er's •uccecsors in interest. I.ender shall not be ~ required to commence ~~roceedings agninst sucl~ successor or mfus~ to extend time for pnvment or othernise modify umortiantion of thc sums secureci b~• this \lori~~gc h~~ i~enson of :?m• demand ~uade by the ori~innl Borro~ver and # ~ Borrower's successors in interest. ~ 11. Forbearance by Lender Not a Waciver. :\ny forbe~rnnce b~• I.endec in exercisiu~ nn~ right or remedy ~ hereunder, or othenvise ttf[ordeci b~ applicuble 1~~~•, st~~ll not~ he s~~ai~•er oi or ~?reclucle the e~cercise of ~?ny right or remedy hereunder. Thc procuren~eut of insurance or the ~ia~nient ot taxes or other licns or charges by I.ender sh~ll uot he a~~•:?i~•er of I.ender's right to accelerate the mlturit.~~ of the indeUtednec5 secureci by this \tortgage. ~ 12. Remedies Cumulntive. All re~neclies providc~i in this ~tort~n~e are distinct and cumulntive to anv other ; right or ~~c~mc~i~~ un~ter this \tortgage or at~'onic~l b~• la~~' or equit~•, and mati• he exemi~e~ concurrentlt~, independ- ; ent~iy or succea~ively. ~ 13. Successors and Assigns Bouad: Toint and Several Liability: Captions. Ti~e co~•enant~ And ngreements ~ herein containeci shAll hind, and the ri~hts liereunder cl~all inure io. tl~e respectir~ succe~~on and ~ssigns of I.ender and Borm~cer, subject to thc pm~•ision~ of para~raph 17 herc~of. _111 co~~enant~ an~l a~rccments of Borronrer shall l~e joint :?nci ~c~•er.~l. Tl?e c~ptions :~ml he3din~• of ti~e i~:ira~ra~~h~ ut thi~ ~iortga~c 3re ior convenience only and are not to be used to inter~~ret or clefinc tlic ~~ro~•isions hercof. 1~. Notice. Any not~ice to Borro~~er ~~ro~ided for in thi~ \tort~u~c ~l~.~ll i?c gi~'en b~ ~nailin~ such notice b~• ccrtifieci m~il a~klressed to Borro~ver at the P~opcrt~• .~~Idre~~ ~tatc~l helo~~•, cxcept for an~ noticc requireri under ~r,?ra~rai~h 18 hereof to be ~i~~en to Borro~~•er in thc mnnner ~~re~crihed h~' :tpplicable la~~~. .~n~ notice provideci for in this ~Tort.ga~e ~hzll lie deemcci to i~acc hcen gi~•en to I3orro~~•cr ~~•hen ~i~•en in tl~c u~auner designatecl herein. 'i 15. Unilorm Mortgage: Governiag Law: 5everability. Thi~ form of mort~~ge combinc~ uniform coti~enants ! for national use nnd non-unitorm co~~enants itl~ limite~l ~-ariations b~~ jiirisdietion to constitute a uniform secu- ~ rity instnunent covering real ~?mpert~ _ This \[ortgagc ~hall be ~;o~•erneci b}• the la~v of thc jurisciiction in which the Yroperty is located. Iu the c~•ent that an~- pro~~ision or clause oi this ~~iortgage or the ?~ote conflicts ~vith ~ applicuble la~v, such conflict shall not affect other ~~m~•i~ions of thi: \Io~tgage or thc \ote ~vhich can be given : E ef~ect ~vithout the conflicting ~?m~~ision, and to this end the ~~ro~-i~ion~ of the ~tortgage and the 1'ote are declared ~ ~ to be severable. ~ ~ 16. Boaower's CopY. Borm~~•cr sliall bc furnisl?c~l a~•onforn~eci co~~~ of tl~is ~tortgage at the time of execu- ~ tion or sfter recordation i~ereof. 17. TTansfer of the Property; Assumption. If :il{ or an~• l~art of thc Property or an interest therein is sold ~ or transferred by Bormwer «ithout I.ender'~ prior ~~•ritten ~~onsent, excludin~ (a) the creation oi a lien or encum- ~ brance ~ubordinate to thi~ \Iortgage, ihl the creation oi a ~~~nrl~a•~c~ inone~- ~ecuritS• interest for household appli- ~ ;~uces, lc) ~ tr3nsfer b~• de~~ise, descent or h}• o~~cr:~tion of la~~• u~~on the ~leath of a joint tenant or ld'1 the grant of. - y :?ny leaschold interest of threc ~-car~ or le~~ not contaiuing sn oF~tion to ~~urchase. I.cnder ma~-_ at Lender's option, ~ declare ali the su~us ~ecured 1?~• thi~ \Iortgagc t~ he in~medi:~tch- +h~c and I~a~•~ihle. 1.en~ler shall have ~vai~•ed such ~ g option to acrelerate if. prior to the ~ale or trau~fer. I.endcr an~l tl~c ~~cr.-on to ~~~hom the Property is to be sold or ~ ~ transferrecl reacl~ agrcement in ~ti•riting tl?at the crcdit of ~acl~ ~?er~on i~ ~ati~factor~• to 1.ender And that the interest ~ ~~aynble on the ~ums ~ccureci b~~ this ~Iortgage ~hall Le at ~iirl~ ra1~~ a~ I.ender shall reqi~est. ~If Lender has waived ~ ~ the option to accelerate provided in this ~~aragrapl~ 17 aml if 13urro~~•er'~ suceessor in interest has executed a writ- ~ ~ ten assaiupt.ion agreenient accepted in «'ritin~ h~~ I.cnder, I.en~i~~r ~l~nll release Borro~~~er i'rom all obligations under ~ this viortgage and tl~e Note. f~ If t.ender exercises such option to acceler.~te. I.ender shall ~uail i3orro~r•er notice of acceleration in accordance ~~•ith ~n~r3grapl~ 14 hercof. ~uch notice ~Lall ~~ro~•i~lc u ~?cri~l of uot Ic~~ !?~an 30 days from thc dute the notice is ; mailed ~~~ithin ~~-l~ich Borro«er uri~• ~~a~ tl?e sums declared due~. If I3orro~~•er f~ils to ~~ay such ~ums prior to the ~•xpiration oi ~uch ~~crial, I.ender ma}-, ~ritlwut further noti~c~ or ~Icmanrl on Borro~~-cr. in~oke an~ remeciies per- ~nitted by ~iaragrnph 18 hereof. \v~-i'air~K~i ('o~~r:raxT,. Korr~~~~•cr un~l L~m~ler furthe~~• cor~•uauf a~id agi•ee a~ tollo~es: 18. Acceleration; Remedies. 1•:x~e~~t :i~ ~~r~n•id~~~l in ~?,u•a~;r:tl~1~ 17 I~ereol, u~?on Borrw~~er'~ breach of an~- ~ co~•cnant or agrcen?ent of Borro«~cr in thi~ ~fort~age, in~lu~linK the co~•~nant~ to ~~a~ ~~'het~ due an~• swns secured by thi~ ~Iortgagc, 1.ender ~?rior to acccleration ~hail ~nail notic~~ io BorraH-er a~ ~~ro~~i~le~l in paragraph 14 hereof specif}•ing: i I 1 thc brcach; 12) tlic a~~tion rcc~uirMl to cu~c=:•!?~li 1?r~•~cl?: ~3i a ilatc. not lr~= than thirtV day~ from the ~latc the noticc i~ n~ailc~l to Borru~~•c~r. I~~- 1~•hich ~ucL Irrcac•h mu~t bc cur~~cl: anri 14? that tailum to cure sucii ~ breach on or beforc the date ~~?ecifie~l in tlie notice ma~• re~ult. in ac~•eleration of thc ~mus ~ecureri b} this \lortgage "t ;u~d sale oi the Yropert}•. 1f the hreacl~ is not cure~~ on or Ix•fom the dlte ~~xcific~l in the notice, t.ender at I.ender's - option ma~~ ~Icci:?rc al( of tl~c ~~~nr.• securc~i tr~• thi~ \IortKx~c to bc• iu»ueYiiatel~ due and ~?a~able ~~ithout further demand and roa~ foreclose thi~ ~Iortgage 1?}' j~uli~ial ~irocecyiin~;. I.crnier ~hall be entitled to collect in such proceeci- ing all ex~?enses of fomclosure, inch~ding, but not limitcyi to, reasonablc xttorncy'~ [ees, and costs of documentar~ evidence, abstracts an~l titlc re~~ort~. 4~; aooK 226 PAf E 730 ~ ~ : ~ ~