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8. In~pectioo, l.end~ ms~r ruuks or auN to b~ mads n~waab~ entriM upoa aad iwpectiow olths psopRty. Dcavided tbaL I.snder shall
~iw Borrower notios pria~ b aay a~ch iaspsetioa ~peciQrias ree~oaabk caws theretoe related eo Lader'~ intere~t iA the Pmp~cty.
9. C~w~deaaados. TM proaeds ot upr sward os c4im for demasa. d~e~t or ooo~equeutial. ia oonnection with aqy oondeain~tion or
oWer talrioj ot tiie pioperty. a~ put thee~eot. or fa ooawysnot in !wu o~ hon. are henby a~si~aed und ~hhall bs paid to Lsader.
not
In ths weat of a bW takin~ ot We ProPKt1?~ tLe proca~d~ ~haq be a ~e wm..scured by thi. Mac~a~s, with We e~ea. it any.
pud to Boerowes. In tiw ev~t at a Pa~rriil ta '_°i
~.tPc4~ecRY. ~-B~o~owes aad I.~~d~r ot~wi~s a~resi~wri~int,-lhere shsll
apptied b the aum~ ~s~vred by
tFw Fitatts~s ~uch propoetian a[ the proceed~ ~u is eqnal b tbat propo~tion which the anount of the
~ e prwr a
tak?ni. with th~ b~lanae of tbs p~uoe~d~ P~id to Bo~row~r.
Iit2~e Properbr is abandoned by AoRO~rsr. ar i~ attee aotios by Leadu to Borrowear that tLe mAdemaos o~er~ to make en award or ~ettls a
claim for dsm+~es. Bor~owar faib to e+e~poad to I~eader ~vitbin 30 days e~tter Wa date ~uch aotios iu mailecl. Ieade! is autlwrir~ed to cdlect snd
apply the prooseds. ~t I.ende~s option, eiWar ~o redontion or repair of the p`aperty or eo the snms ~ecnred by this Mat~eQe.
Unlea Leader and Horrower othenni~s ~~res ia Mriting. anY rach appHcaaon of prooeed~ to principal shall aot e~ctead ur.po~tpone the due
date ot tbe monthly inat~liment~ reierred to in para~nph~ 1 and 4 heraof oe cl~aage the a~nount of sueh uutsllmant~.
10. Borrow?er Not Relewaed. Sactendoa of the time for paymant or modi5cation of amoitization of the sums secured by'this Mort~age
granted by Lender to aqy auooessor it~ inteeest of Horrower ehall not operate to nlease. in uny mannar, the liability of the osiginal Borm~ver
and Bor~ovve~'s sucoessors ia iaterest Laider shall aot be required to oommenoe Prooeedin6s aSainst ~uch succ~esor or refiiae to astend time
for pe~yment or othaaise mo8ify amwrtisation otthe sums secured by this Mortgege by reason oI any d~nand made by the original Borrower
and Horro~rei
e sua~~pn in intesest.
11. F~ D7? I,eodes Not a Waiver. Any forbesrence by Lend~ ia ezercising any right oz nmedy here~nder. ~ otherwise
aH~ded by appticabie law. shall na be a waiver of or pr.ednde che ezerci.e of any.nch ~hc or Temedy. The procnr~aent of it~anraaee or the
payment of taxe~ o~ other li~s or char~e~ by I,end~ shall not be a ~raiver of L,wde~s ri~ht b aocelerate the mat~uity ot tbe indebtedness
secured by thi~ Mart~age. .
12 Remedies Cumal~tive. All e~emedies provided ia this Mu~igaQe an diatinct and cnmulalive to any otl~e~right or remedy nnder this .
MartBage or affaded by la~r or eq~dty. and ma~y be e~cerriaai ooncurrenW?. indep~de~tly or spooe~sively.
13. Su~ors u~d Assipis Bonad; Joint and Sevaral I.iabillt~; Caption~.'!be oov~ants and agreements herein oontained sha11
bind, and the tighfa hereundar shaU inure to. tl~ re~pective su~cersors and assigns of Lender and Horrower. subject Lo We provisions of
paragraph ~17 hereot All oovenants and agreements of Borrawer ehall be joint and several: The captiona and headings of the paragraphs of
tbia Mortgage an fa: oovenienoe only and are not to be ueed to interpret or de5ne ths pcovisiona heieof. ~
14. Notioe. Exapt for any notice required unde: applicable law to be given in another mannes. (a) any notice to ~orrowrr provided for in
this Modgage a6all be giv~.by mailing snch notioe by ce~tified mail addreased to Borrower atthe Property Address or at such other address aa
Bo~rower maY deagaate bY notioe to I.ender as provided herein. and (b) any notioe to Lender ahaU be given by certified mai1. retum reoeipt
re4ubted. to I~ender's ad~eas stated heran or b snch oWer address as I.enda~ may designate by notice to Borro~ es pvrovided haein. Any
notice provided for in this Ma:tg+iBe shall be deemed to have been giv~ to Borroarer or I.wder when given in the manuer designated herein
1 b~ Uniform Yortsase; Governin~ Lw?; Severability. Thi, form of mortgage oombin~ uniform ooven~nts for national w~e and non-
nniform emr~ants with limifed vasiations by jnrisdiction to canatitate a uniform aecuriqr instrumeat oovering real property.'lLis Mo:tgage
ehall be governed by thp lawr of the jnriediction in which tha Propeety ia located. In the eve~nt that any pmvisioa or clauee of this Mortgage or
the Note conilicta with applicaWe law, auch coaflict ahall aot affect other pmvisions of this Mortgage or the Note which can be given e~ect
without the oontlicting provision, and to this end the provisi~ons of !he Mortgage and the Note are declered to be eeverable.
1& Horro~res's Copy. Hotrower shall be furnished a conformed oopy of the Note aad of this Martgage at the time of ezecution or ai~
reoo~edation hereot ~ .
. 17.17ransfer of the Propert~; Aswmption. If all ar any pari of tl~e Propaty or an interest th~rein ie sold or tran~fereed by Borrower
writ}wut Lea~~s prior written consent, ezcluding (a) the creation of a lien or encnanbranoe subordinate to this Mortgage. (b) the creatioa of a
pqrehase uqaey eecnrity intcrest for hoosehoid appliances, (c) a tranater by devise, desoent or by operation of law apon the death of a joint
cenant or (d) che sranc of any leaaehold in~c of d,ree yeare or less noc oontaining an opaon•co purcha.e, iaader may, at Leade~s option.
declan all the snms securea by tbia Mortgage to be immediately dne and payable. Lender ~hall have waived anch option ta aocelerate if, prior
to the eale or
trander. Lender and the person to whom the Property i~ to be a~oW or tranaferred reach agree~nent in writing that the credit of snch
penon ii satisfsctory to Lend~ and thst th~ intereet pa~yable on the suma eecured by this Mortgege ahall be at sncb rate ae I.ender shall
request. If Lende~r has waived the option to aooelerate provided in this paragraph 17, and if Borrower
s suoceeeor in intetrst has ezecuted a
writte~ assnmption egreement aooept~ed in writing by I.endet, I.ender ehall release Bormwer from all obligationa under thia Mortgage and We
Note. _
' If Leade~ ezercises such option to sooelerate, Lender ahalt mail Bormwer notice of aooele~ation in aacordance with paragraph 14 hereo£
Snch notice ahall provide a period of not leaa than 30 daya from We date the notice is mailed within which Borrower may pay the sums declared
~ dne. If Borrone: faile W pay anch aums prior to the apiration of snch period, I.ender may, without fnrther noace or demand on F3orrow~.
u~voke any reqnediee percnitted by paregra~6 IS hereoL
~
: 18. Aoceleration; Remediea. Ezcept aa pmvided in para~rap6 1? hereof, apon Borrower's breach ot aqy oovenan; or
~ a~reement ot Bore~ower in this ~[ort~es~ inclnding the oovenants to pay when dne any same secured bY thia llortgage, Leadez
prior to acceleration s6a11 mail notice to Borrower ae pmvided in paragrapb 14 hereof speclfying: (1) the breacb; (2) the action ~
require.d to care wcL breach; (3) a date, not lew than 30 days from the date tbe notice ia mailed to Borrower, by which anch
breach mwt be aired; aad (4) that failnre to cure s~u~ breach~ on or before the date specifted in the notioe mqy result in
ecceleratton of the sums eecured by this l[ortgage, toreclosure by judlcial proceeding and sale of the Property. T6e notice eball
farther inform Borrower ot t6c right to reinstate aRer aooeleration and the ri~ht to asrert ia t6e torecloeure praceeding the
non-eastenoe oi a detaWt or any other defense of Borrower to aoceleration aad f~eclosure. I[ the breac6 is not wred on or
before the date specified in the notioe, I.ender at Lender'e option may declare all of the eums eecured by t6is l~ortgage to be
iR~mediatelq due and payable without fnrt6er demand and may toreclose this Mortgsge by judicial proceeding. Lender shall be
entitled to oullect in sac6 prooeeding aU r~penses otforeclosure. inclnding, bnt not limited to. reaeonable attorney's feea, and
costs of documentar~ evidence, abstracts and title reports.
19. Borro~ver's Risht to Reinstate. Notwithatanding I.ende~s soceleratioa of the auma secnred by thia Mortgage, Borrower ehall have
~ the right to have sny pmoeedings begun by I.ender to eaforce this Mortgage discontinued at any time prior to entry of a judgment enforcing
this Mortgage i~ (a) Borrower pays I.enda aU anma which wonld be then due under thia Mortgege, the Note and notes securing fitturP
Advancea. if any. had no aooderation oocnrted; (b) Borcower cares all bresches of any other oovenanta or agreements of Borrowa oonf,ained in
thi~ Mortgag~ (c) ~rrower pays all reasonsbk espeoses iacvrred by I.eader in enforcing the oovenanta and agrcementa of Borrower
,'x~,-. oont,aincd in thia Martgage and in enforcing I.endds r~?edies as pmvided in paragraph 18 hereo~ inclnding, but not limited to. reasonable
attorne~s fees; and (d) Borrawer takee sac6 sdion as Lender may reasonably reqnin to assnre that the lien of thie Mortgege. I,endQ's interest
~ in the Property and Boreowei's obligation to pay the sums secnred by this Mortgage shall continue unimpaired. Upon such payment and care
by Borrowa. this Mortgage and the obligatioaa secured hezeby ahall remain in fnll force and eHed as if no soceleration had oocarred.
~ 20. Assi~nm~t ot Rents; Appointment of Iteceiver. As additional secnrity hereunder, Borrow~ hereby asrigns to Lender the rents
of the Property. provided that Borrower shall, prior to aooekration nnder peragraph 18 hereof or abandonment of the Property. have t6e right
~ to collect and retain sach rwts as tbey becorne dne and payable.
Upon aooeleration nnder paragraph 18 haeof or abandonmeat of the Propesty. I~ader ehall be entided to have a~eceiver appointed bq a
oonrt to eaterupon. take ponepion of and manage the Property and to oollect the rents of the Property. inclading tbose paat due. All rwts
oollei.~ted by tbe reoeiver shall be appliedfirst to payment of the ooets of management of the Pmperty and o~llection of ra?ts, including, bat not
~ limited to. reoeiver's fees. R'eminms on reoeive:'a bonda snd reesonable ettorney's fees. end then to the ~uma recured b~ this Martgage. The
reoeiv~ shall be liabk to aoo~ant oiily for those rPa4 actually reoaved.
~
go~K289 PacE 9~
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