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8. ln~pection. Lender me~y make or cawe w be made reawnable ~atcia ~poa~d 'u~~~ oithe property. provided that l.sader ahall
~ive BoROwe~ aotice prior to eay such uuP~op apecifying reasotlebM ~a?u~e theseto~ b Lender'~ intere~t in the Property.
9. Coademn~doa. Ths prooeeds of aay eward os claim for damage~. ditbct or ccn~equential. in connection with any ooudemnatioa or
other talrin~ ot the props:ty. o~ part thereof. or fo~ conveyaaos In lieu of oondemnatioa. ere hereby a..iQned and •hall be paid ~o Leader.
In the eveat oi s total takin~ oi the Property. We proceed~ ahall be applied tothe sums ~acnred by thi~ Mostga~0. ~rith ths ~oes~. if at~}?.
paid to Borro.ver. In th~ event ot a p~rtial takin~ of the Property. unle~s Aatrowez and Lender otherwi~e aQree ia writin~. there sl~aq be
applied to the snions secured by this Mort~~e such ~oportion ot the proceed~ as is ~qual to that proportioa which the amount of the ~ums
eecured by thie Mortgage ima~ediately pdor to the dab of taking bears b the fair martet value of the Properiy immediste~jr prior b the date of
te~ivnS. ~vith We balenoe of the praeeds paid to Horrower. .
Ii the Propaq? is sbandoned by Borrowee. or if. aRer notice by Leader b Borrower that the ooademnos o8en b make aa award or ~ettle a
claun for dnanages. Horroaer fails b resp~nd to Leader ~vithin 30 days at~er the date euch notios is mailed. I.ender is au Worised b oollect ead
app1Y the prooeeds. at Lender's option, either to nstoration or repair of the prope:t,y or to tbe ~nms secured by t~i~ MortSa~e.
Unless I.endu and Borrowrer oWerwi~e a8~'ee in ~rriting. any such appUcation of proceede to principal shall not ~t~d or poatpoae the due
date of We monthly iastallments referred b in para8raphs 1 and 2 henof or change the amoaat of such inatallments. ~
10. Borrower Not Released. Estension of the time for paymaat or modification of amortization of the sume secured by thia Mortgage
granted by Lenda to any succeasor in interest of Borrower ahall not operate to release. u? any manner. the liability of the original Borroarer
and Borrowei
a suoceesore in interesi I.ender ehall not be required to oommeace proceedings againet such succeesor or refuse to e:tend time
for p~nneat or otherwiae aaodify amortisation of the suma secured by thia Mortgage by reaeon of any demand made by the original Borrower
and Borrower'a auc~cessora in intereet.
11. Forbearanoe by I.ender Not s Waiver. My forbearanoe by Lendez in ezercising any rieht ar remedy henunder. or otherwise
a~orded by applicable law, shall not be a waiver of or preclude the ezercise of any snch tight or remedy. The procurement of iasurance or the
payment of ta:ee or othe: liens or chargea by Lender shall not be a waiver of Lender's Tight to socalerate We maturity of the indebtedness
aecured by ch;s Mortgage.
12 Remedies Cumulative. All nmedies provided in this Mortgage are distinct and cumulative to any other right or nmedy nnder thia
Mortgage or afforded by lawr or equity. and may be eserciee~i o~ncurrently. independently or suooeesively.
13. 3ucceseors and Assigns Bound; Joint and Several LiabiUty; Captlons. The coveaants and ege+eementa herein eontained shall
bind. and the rights hereunder shall innra to. the reepective sucoeseors and assigns of I.ender and Borrow~~ snbject to the provieions of
paragraph 1? hereof. All rnvenants and egreemente of Borrower ehall be joint and several.lLe captione and headings of the paragraphs of
this Mortgage are for coveaience only and are not to be used to interpr~ or define the provisioas hei~of.
14. Notice. Except for any notice required under applicable law to be given in anoth~ menner. (a) any notice to Borrower provided for in
thie Mottgage ahall be given by mailing auch notice by certified mail addresaed to Bon~ower at the Property Addrees or at such other addrees ea
Borro~ver may designate by notice b Lender as provided herein, and (b) any notice to Lender shall be given by certified mail. retura reoeipt
requeated, to ~~ende~'s address Mated herein or to soch othez addreea as I.ender may deaignate by notice to Borrower as provided herein. Any
notice provided for in this Mortgage ahall be deemed to have beea givea to Borrower or I.ender when given in We matiner designated herein.
15. Unitorm Mort~age; Governing I.aw; $everability. Thie form of mortgage oombiaes uniform oovenanta for national use and non-
uniform oovenants with limited variations by j~uiediction to oonstitute a uniform security instrument covezing real property. This Mottgage
ehall be govemed by the law of the juriedidion in which the Propedy is located. In the event that any provieion or dauee of thia Mortgage or
the NoEe conilicts with applicable law. such oonllict ahall not affect other provisiona of thia Mortgage or the Note vrhich can be given effect
without the oonflicting pmvision, and b thia end the provisions of the Mortgege and the Note are declered to be eeverable.
1& Borrower's Copy. Borrower ehall be fumiehed a confotmed oopy of We Note and of thie Mortgage at the time of ezecution or afler
reoordation hereof. .
17.'15ransfer oi the Property; Aseumptlon. If all or any part of the Property or an interest therein is eold or traneferred by Borrower
without Lender's prior written ooneep~ e~ccluding (a) the areation of a lien or encambrance eubordinate b thia Mortgage, (b) the creation of a .
pnrchaae money security interest for household appliences. (c) a tranafer by deviae, deeoent or by operation of laa npoa the deaW of a joint ;
tenant or (d) the grant of any leaeehold intereat of three years or less not oontaining an option to purchase, I.eader may. at Lende~e option, i
declare all the sums seeured by this Mortgage to bc.immediately due and payable. Lender ahall have waived auch optioa to aocelerate if, prior
to the eale or tranafer. Lender and the peisoa to whom the Property ia to be soW or trensferred reach sgreement in writing that the credit of auch
person is aatiafactory to Lendes and that the intereat payable on the swna secvred by this Mortgage ehall be at such rate ae I.ender ehall
request. If Lender hae waived the option to aocelerate pmvided in thia paregraph 17. and if Borrow~a ena~eseor in intereat has ezecuted a
written aeaumption agreement socepted in writing by I.ender, I.ender ehall releaae Borrower from all obligations ander this Mortgege aad the
Note.
If Lende~ ~ercisee snch option w aocelerate. I.ender ahall mail Borrower notice of acceleration in sucordance with paragraph 14 hereoL
~ Such notice ahall provide a period of not leas than 30 deye from the date the notice ia ~siled within which Borrower may pay the aums declared
i dne. It Bornower faile to pay such auma prior to the e:puation of such period, Lend~ may, withont further notice or demand on Borrower,
f involce any remediea permitted by paragraoh 18 hereof.
~ 18. Aooeleration; Remedies. Ezcept as provided in paragraph 17 hereof, upon Borrower's breach of aqy oovenaat or
agreement of Borrower in this Mortgage, inclnding the oovenants to pay when dne any eums eewred by thia Yortgage, Lender
prior to aooeleration shall mait notice to Borrower se provided in paragraph 14 hereof apecifying: (1) the breach; (2) the action
reqnired to cure euch breach; (3) a date, not leas than 30 daye trom the date the notice is mailed to Borrower. by which euch
breach must be cured; and (4) that failnre to cnre sach breach on or before the date specified in the notice me~y result in_
aoceleration of the sums secured by this ldortgage, foreclosure by judicial prooeeding and eale of the Property. T6e notice ahall
further inform Borrower of the right to reinetate aRer acceleration and the rig6t to aseert in the torecloeure proceeding the
non-e~etence of a detanlt or any other defenae of Borrower to aoceleration and forecloeure. If the breach ia not cured on or
before the date specified in the notice. Lender at I.ender'e option may declare all of the sams aecared by this ~ortgage to be
immediately dne and payable without further demand and may foreclose thie Mortgage hy judicial proceeding. I.ender shall be
eatitled to oollert in such proceeding aU ezpeases of foreclosare, including, but not limited to, reseonable attorney's feea, and
oosts of documentary evidence. abetracts and title reporte. _
19. Borrower'e Big6t to Reinstate. Notwithstanding I.ender'e acceleration of the suma eecured by thie Mortgege, Borrower ahall have
the right to have any pmcxedinga begun by Lender to enforce this Mortgage diecontinaed at any time prior to entry of a judgment enforcing
thi~ Mortgage if: (a) Borrower paya Lender all aume which would be then dne tu~der thia Mortgage, the Note and notea eecnring fl~tare
Advano~, if any, had no acceleration oocarred; (b) Borrower curee a11 breachea of any other oovenants or.agreemente of Borrower oontained in
lhia Mortgage; (c) Borrower pays all ressonable espensea inc~rred by Leader in enforcing tbe oovenant8 and agrcementa of Borrower
aontained in tLis Mortgage and in enforcing Lender's remediea as pmvided in paragraph 18 hereo~ inclnding, bnt not limited to, reasonable
- attomey's feea; and (d) Borrower takes such action aa Lender may reaeonably require to assure that the liea of thia Mortgage, Lender's interest . ~
in the Propezty and Borrowe~e obligation to pay the suma secured by thia Mortgage ahall ooatinue unimpaired. Upon snch payment end cure ~
~ by Bormwer. thia Mortgage and We obligationa eecured hereby ahall remain in full foroe and effect es if no aooeleration had oocarred. ~
- 20. Asaignmeat ot Rents; Appointment of Receiver. As additional ~rity heceunder, Borrower hereby assigns to Lenda the rents `
oi the Property, provided that Borrow~ ahall. prior to aoceleration under paragraph 18 hereof or abandonment of the Property. have the right ~
to colled and retain auch rents as they beoome due and payable.
Upon aocderation under paragraph IS he~eof or abaadonment of the Property, Lender shall be entided to have a rec~ver appointed by a ~
oourt to enterapon. take possession of and manage the Property and to coUect the rents of the Property. including thaee pest due. All rente Y
~ oollected by the receiver shall be applied 5rst to payment of the ooets of inenag~aent of the Property and oollection of rents, inclading. but not ~
limited to, nceiver'e feea, premiume on recxiver's bonds and reasonable attome}~e feee, and then to the aume aecared by this Mortgage.'t~e
reoeiver ahall be liable to aooount only foc thaee rents actaally received.
~ 800~ 287 ~~E 387
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