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8. Iospection. I.ender may make or cawe to be made re~~oaabb eatries upoA aad ia~pectionu d~tu pdnperty, ptovided that I.ender ~hail :
give Borm~rer notiae prior to aay ~uch ins~ection specifyin~ res~onabk caws therefo~ ralated to Lender'~ interest in the Property.
8. Coadamnattoa.'[1ze pmoeeds of aay award or claim ~or daana~es, direct or con~equ~tial, in coa,?ecaon wich eny oaademnsaon or :
other u?Idt~ of the proDertY. ot part thereof. or for ooAVeyance in Geu of oondemuation. are hereby assi~ned and shaU be paid to Leader.
In the eveat oi a total takina of the Propeety. the prooeedi shall be applied to !he ~uma ~ecused by this Mort~a~te. with the e~toew, if any,
paid to Borro~rer. In the ev~t oi a padisl takin~ of the Proper4Y. unle~s Borrowe~r and Lender othenvise a~ree in w~ritinS. Were ~hheJl bs
applied to the sum~ ~scured by this Mortge~e such pmportion of the pmceeds aa is equal b that prnpbrtion which the amount of We sum~ ,
secu;ed by this Mortga~e immediatelY P+nor to the date of takinB bearo to We fair market value of the Property innmediately prar to the date of !
cs1UnB. wiW tbe balanoa ot the prooeeds paid to Borrower. . ~
If tbe Prop~rt,y u abandoaed by Bocmwer. or if. aRer notice by Lenda~r to Borrower that the oondemnor oHen to make an award or set~le a ~
cLim for dama~e~. Borrower fails b re~poad to I.ender within 30 days aRer the date such notiea is mailed, I.ead~ is authorized to collect and ~
app~y the prooeed~. at Lead~'s option. eiW~ to resbratioa or repair of We pmperty or to the sums secured by this Mortgage.
Unlas i,eader and Borrower otherwiae agree in writinB, any snch apptication of prxeeda to principal shall aot ~tend or poetpoaa the due
dste of the mont6l,q installments referred t~o in paragraplu 1 and 2 hereof or ct?ange the amount of euch irutaUmenta.
10. Borrow?er Not Relea~ed. E:tension of the time for paym~t or modi6cetion of amortisation of the sume secured by this Mortgage
grantecl by l:nde: to any succeaeor in intereat of Borrower shall not operate to release, in any manner, the liability of the origi~?al Borrowet
and Borrowtt's succ~essors in interes~ I.ender ahall not be nquired b aommence proceedings ageinst wch suaceaeor or refuee to eztead time
!or payment or otherwise modify amortization of the sutns secured by this Mortgage hy reaeon of any demand made by the original Bor~ower
and Borrower
e auccesaors in interest. .
11. Forbearenoe b~? Lender Not a Riaiver. My forbeasauoe by Ler?der u? e:erciaing any right or remedy hereunder. or otherwise
sfforded by applicabb law. ahall not be a waiver of or preclude the acercise of any auch right or nmedy. The procuranent of insuranoe or the
payme~nt of teaes o~ othdr liwa or charges by Lende~ sheU aot be a waiver of I.ender's righE io aocelerate the maturity of ihe iadebi,ednea~
eecured by this Mortgag~ - .
1 Z Reaedies Gtimnlative. Ali remedies pmvided in thia Mortgage are dietinct and cumulativa 6o anY other right or remedy under thia
Mortgage ar aff~ded by la~v or equity. and may be ezerciseil ooncarrendy. independeady or suoceasively. _
13, 3uooes~ors and A~signa Bound; Joint and $everal I3ability; Captions.l~e oovenanta aad agreementa henia ooAtained shell
bind. and the rights hereuader ahaU inure to. the respective succeesors and assigns of Lender and Borrower. eubject to the pmvisions of
paragraph 19 hereoL All covenants and agreements of Borrower ehall be joint and several.'I~a captioas and hesdings of the paragraphs of
thia Mortgage are for oovenience only and an not to be used to interpret or define the provisiona hereof. ~
14_ Notioe. E:cept for any notice required nnder applicable law to be given in another manner. (a) any notice to Bos~ower provided for in
thia Mortgage ahall be giveu by mailing euch notioe by certified mail addreseed to Borrower at the Property Addrese or at such other addrees as '
Borrower may designate by notioe to L.ender aa provided herein, and (b) any notice to Lender shall be given by certified mail. retum reoeipt .
requesLcd. to Lender
a addrese atated herein or to euch othtr address aa Lender may designate by aotice to Borrower as pmvided hereia Any
notice provided for in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated 6erein.
15. Uniform liortgage; Governing I.aw; 3everability.'ILis form of mortgege oombinea uniform aovenatita for national nae and non-
uaiform covenanta with limited variations by juriediction to oonatitute a uniform security inetnuuent ooveting real prop~ty. This Mortgage
shall be governed by the law of the juriadiction in which the Propedy ia located. In the event that any provision or clauee of this Mortgege or ~
the Note conilicts with applicable law, euch rnnflict ahall not affect other provisiona of thie Mortgage or the Note which can be given effect
withoat the oonflicting proviaion. and to thia end the pmvieiona of the Mortgage and the Note are declared to be severable. •
1& Borrower's Copy. Borrowez shall be furniahed a rnnformed oopy of the Note aad of this Mortgage at the time of esecution or after '
recordatioa he:eof. ~ -
17. 'Itiraaafer of t6e Propertp; Assumpdon. If all or any pairt of the Property or an intereet therein ia eold or transferred by Borrower ;
withoat Lender'a prior written rnneent, eucluding (a) the creation of a lien or encumbrance eubordinate to thie Mortgage, (b) the creation pf a
purchaee moaey aecnrity interest for houeehold appliances, (c) a transfer by devise, desoent or by operation of law upon the death of a joint -
tenant or (d) the grant of any leasehold intereat of three years or lesa not oontaining an option to purchaee. Leader may, at Lender's option,
declare all the same se~vred by this Mortgage to be immediately due and payable. I.ender shaU have waived auch option to accelerate if. prior
to the aale or tranefer. L,ender and the person to whom the~Property is to be sold or tranaferred reach agreement in wrriting that the credit of auch
p~son ia satisfactory to Lender and that the interest payable on the sums aecured by thia Mortgage ehall be at such rate as Lender shall
reqneat. If I.ender haa waived the option to socelerate provided in this paragraph 17, and if Borrowele succeeaor in intereat has ~ecuted a
written assumption agreement a9cepted in writing by Lender, L.endershall release Borrower from all obligatione under thie Mortgage and the
Note:
~ If I.eader ~ercisee such option to aocelerate, Lender ahall mail Borrower notice of sooeleration ia aooordance with paragraph 14 hereoL
; Snch ~tice shall provide a period of not less than 30 days from the date the notice ia mailed within which Borrower may pay the sums declared
~ dnr_ If Borrower fails to pay such snms prior to the eupiration of auch period, Lender may, arithout further notice or de~nand on Borrower, .
mvoke any remedies permitted by paragraoh 18 he~eof.
~ 18. Aooeleration; Remediea E:cept ea pmvided tn paragraph 1? hereot, upon Borrower's breach of any oovenant or
agreement of Horrower ~n this Mortgage, including the oovenanta to pay when due say sume secured by this ~ortgage. I.ender
prior to acceleration ahall mail notice to Borrower as provided in paragraph 14 hereof specifyjng: (1) the breac6; (2) the action
requised to cure such breach; (3) a date, not less than 30 days from t6e date the notice is mailed to Borrower, by which snch
breach must be arred; and (4) that tailure to cure suc6 breach on or before the date epecified in the notice may result in
acoeleration of t6e sama secured by this Mortgage, foreclosure by judiciai proc~eding aad sale of W e P*operty. The notice ehall
further inform Borrower of t6e right to reinstate after acceleration aad the r;ght to aseert in the foreclosure proceeding the
non-e:istence of a defeult or any ot6er detense of Borrower to acceleration and foreclosure. If the breach is not cured on or
before t6e date specified in the notice, Lender at Leader's option may declare all of the eume secured by tbia btortgage to be
immediately due aad payable without fucther demand and may forecloee t6ie Mortgage by judicial proceeding. Lender e6all be '
entitled to rnllect in such proceediag all e:penaee of toreclosure, including, but not limited to, reseonable attoraey's fees, and -
costs ot documentary evidence, abstract8 and tiUe reporte. '
19. Borrower's Rig6t to Reinstate. Notwithatanding [.ender s acceleradon of the sams eecnred by thie Mortgage, Borrower ahall have
the right to 6ave any proceedings begun by Lender to enforce this Mortgage discontinued at any time prior to entry of a judgment enforcing
this Mortgage if: (a) Borrower paya L.ender aU aums which would be then due under thie Mortgage, the Note and notes securing Future :
~ Advanoes, if any, had no aoceleration occurred; (b) Borrower cuns all breaches of any other rnvenants or agreements of Borrower oontained in _
this Mortgage; (c) Bormwer paya all reasonable ~penaes incurred by Lender in enforeing the oovenants and agreements of Borrower
oontsined in this Mortgage and in enforcing Lender's remediea aa provided in paragraph 18 hereof; including, but not limited to, reasonable
~ attoraey'~ fees; and td) Borrower takea ench action as Lender may reasonably require to aseure that the lien of thia Mortgage, Lender'a inLereef.
in the Propesty and Bormwer's obligation to pay the sums secured by this Mortgage ehaU oontinue ununpaired. Upon euch payment and cnre
bq Borrower, this Ma~rtgage and the obligations secvred hereby ahall remain in full force and effect as if no aoceleration had occurred.
Z0. Aasisnmeat of Renta; Appointment of Receiver. As additional eecurity hereunder, Borrower hereby sesigns to I.endrr the re~4
~ of the Proprrty. provided that Borrower ahall, prior to acxeleration under paragraph 18 hereof or abandonment of the Property, have theright .
to rnllect and retain snd~ renta aa they become due and payable.
~ Upon aacderation aader paragraph 18 hereof or abandonmeat of Lhe Property. Lender shall be entitled to have a receive: appointed by a t
oomrt W eatera~pon, take poesession of and manage the Property and to oopect the rents of the Property, including thoee paat due. All rents ~
oollected by the receiver ahall be applied 5rat to payment of the oosts of management of the Property and collection of rents, including, Mtt aot
limited to, ecceiver
s fees, premiums on receiver's bonda and reasonable sttorney's feea, and then to the anma secure~ by Wis Mortgage.'I'he
reoeiva ahall be liabk to acoount oniy for those rents actually reoeived.
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~ . 288 FA~E 9~2 `
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