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8. Iaspectloa. Leader me~y make or cawe to be made rs~wnable ~tries upon end 'uupectioru of the property, pmvided thst I.endes ~hall ~
~ive Bormwer notioe prior to aay such in~pection ~pecityin~ naionabk cawe therefa~ related b Lendet'~ interest ia the Property. ~
9. Coademn~tioa.'I~e prooeed~ oi sny award or clsiAa for dama~e~. direM ot coneequential, i„ ~o,?~~ao~ w;~ a~?y oond~,naaop or ;
other eakin~ of the pmpe:ty. or part theseof. or for conveyance in lieu of ooadea~?stion. srs hereby sa~iQned and shall be paid to Let?deit. i
In the eveat of a total eakin~ of the Propedy, the proceeds ~haU be applied to the sum~ recured by thia Mort~e~s, wiW the eacoep. if any,
paid to Borrovrer. Ia the event of a partial Laking of We Proper~y. unlea Bo~rower and L~der otherwiss aQree in ~vritia~, there shaU bs `
applied to the sums ~ecured by thii Mort~a~e such proportion of the proosed~ a~ u equsl to thet propoction which the amount ot tbe ~um~ ~
wrurwlbythi~MertgagsimmediaWypriertnthedetw~ftakinqtw+urntothstairmerketvAlusofthePmpe~rtyimmediatelvprio~tolhedateot ?
takiaB. with the balanoa ot We proceed~ paid to Borrower. ~
If We Property is abandoaed by Boerower. or if, aRer aotioe by Lender to Borrowreit that the coademnor offers to maka sn awud or ~ettk a
claim for dama~e~, Borrower fai4 Lo respoad to Leader within 30 days aiter the date such notice i~ mailed, Lender is authorised to oollect and
epply the proceed~, sc I.~der'• opaon. ~thec to restoratioa or repau of the p~opert,y o~ to the ~nau ~ecured by this MartQege.
Unleea Lender aad Borrowez otherwiss a~ree in writin~, any such spplication oipeoceeds to principal shaU not ~tend ~ yostpoae the due
date of the monthly iastallmenta referred to in peragraphs 1 sud 2 he~reof or chanQe the amouni of ~uch uutallnneata. i
10. Borrower Not Relea~ed. E:Lension of the time for pe~ymsnt or modification of aaartisation of the sums secured by this Mortgage ~
granted by Lender to any euocessor in interrat of Borrower shall not operate to rele~ae. in any manner. the tiability of We original Borrower
and Borrower's succeesors in intere~~ I.eadeT ahall aot be required to aonuaence proc~eedings against auch suocessor or refuse to e:tend time
for payment or otherwise modify amort~ation of the euma eecured by this Mortgage by reason of any demand made by the origina! Borrower ~
and Borrower e eucceeaots in intereat. ~
11. Forbearanoe by Lender Not ~ Waiver. Any forbearance by L,end~ in e:eniaing any right or remedy hereunder; ~ other~ri~e ~
~ afforded by applicaDle law, shall not be a waiver of or preclude the euercise of any sach right or nmedy. The procurement of insuranoe or the ~
payment of ta:es or other liens os charges by Lender shaU not be a waiver of Leader's right to aooelerate the maturity of the iadebf~ednesa ~
secnred by this Mortgage.
12 Remedie~ Cumulative. All nmedies pmvided ia this Mortgage are distinct and cumulstive to any other right or remedy nnder thi~ ~
Mortgage or afforded by law or equity. 8[1d Q18~? bE P.~8tC1lCfl OOACtl![EALI~I. independendy or suooemsively. ~
13. $uooeasors and Assigas Bound; Joint aad Several I.iability; Captions.'!~e oovenants and agreemente hezein aontained ahall ~
bind. and the righte hereunder shall inura to. We respective successors and assigns of Leader and Borrower. snbject Eo the ~oviaions of
paragraph 17 hereoL All oovenaate aad agreementa of Borrower shall be joint and several. The captions and headings of the paragraphs of ,
this Mortgage are for covenience only and an aot to be used to iaterpret or de5ne the provisioaa hereof. ;
14. Notice. Except for any notice required und~ applicable law to be given in another maaner, (a) eny notice to Borrower provided for in
thia Mortgage ahall be given by mailing auch notice by certified mail addreesed to Borrower at tbe Property Address or at snch other address as ;
Aorrower may designate by notioe to Lender ae pmvided hereia. and (b) any aotice to [.ender shall 6e given by certified mail. return reoeipt ~
requeeted, to Lender'e address slated herein or to such oth~ addrees as Lender may desigaate by notice to Borrower as provided h.3rein. Any ~
noRice provided for ia thia Mortgage ahall be deemed to have been given to Borrower or Lender when givea in tht menner deeignated hen~n. ~
15. Uni[orm btortgage; Goveraing Law; Severability.'11~ia form of mortgageoombines nniform oovenanta for national use and noa- ;
uniform oovenapte with limited variatioas by juriediction to oonetitnte a uniform socurity inetrument oovering real property.'l~is Mottgage ~
ahall be governed by the law of the jurisdiction in which the Property ia locsted. In the event that any proviaioa or clause of this Mortgage or ~
the Note conllicta with applicable law, such conllict ehaU not affect other proviaione of thie Mortgage or the Note which can be given eg'ect
without the oontlicting provieion, and to thia end the proviaione of the Mortgage and the Note are declared to be severable `
16. Borrower's Copy. Borrower ehall be furniahed a conformed oopy of the Note and of thia Mortgage at tbe time of ezecutioa or aft~er
recordation hereof. -
17. 'ltiranster of the Property; Assumpdon. U all or aay part of the Property or an interest thereia ia eold or tranaferred by Borro~ver
.xithoat Lender's prior written coneent, excluding (e) the creation of a lien or encumbrance aubordinate to thie Mortgage, (b) the creaRion of a s
purehaee money ~rity int~ereat for houeehoW appliancee, (c) a transfer by devise, deecent or by operation of law upon the deaW of a joint
tanant or (d) the grant of any leaeehold interest of tht+e~ years or lesa not aontaining an option to pnrchase. Lender may, at Lender
s option, '
declare all the aupns eecured by this Mortgage to be immediately due and paysble. I.ender ahall have waived euch option to aooelerate if. prior ~
to the sale or tranafer, Lender and the pereon to whom the Property is to be eold or traneferred reach agr~ement in writing that the ceedit of each ~
person is satiafactory to Lender and that the intereat payable on the auma eecured by thie Mortgage ahall be at auch rate aa Lender shall 5
request_ If I.ender has waived the option to aocderate provided in thie paragraph 17, and if Borrower
a aucceesor in interest haa execvted a a
written aeeumption agreement accepted in writing by Lender, Lender shall relesee Borrower fr~m all obligatione under this Mortgage and the ;
Note.
If Lender pcercieea auch option to acoelerate. I.ender ehaU mail Borrower notice of aoceleration in aocordance with paragraph 14 hereoi i
Such norice shall provide a period of not lesa than 30 daya from the date the notice is mailed within which Borrower may pay the euma declered
due. If Borrower faila to pay auch suma prior to the expiration of such pe:iod, Lender may, without fi~rther notice or demand on Fiorrower, }
u~voke any remediea permitted by paragraoh 18 hereof.
1
18. Acceleration; Remediee. Ezcept as pmvided in paragraph 17 hereof, upon Borrower's breacL of any ooveaant or ~
agreement of Borrower in t6ia Mortgage, including tbe oovenante to pay when due aay sume aewred by t6is ~ortgage, I.eader
prior to aoceleration shall meil notice to Borrower as pmvided in paragraph 14 hereof apecifying: (1) the breach; (2) t6e action
required to cure such breach; (3) a date, not less t6an 30 daya trom tbe date the notice is mailed to Borrower, by which snch
breach muet be cure~ and (4) that failnre to care sach breach on or before the date specified in t6e notice ~hay result in
acceleration of the eume secured by tbis Mortgage. foteclosnre by judicial prooeeding and eale of the Property. The notice ehall
further inform Borrower of the right to reinstate after aooeleration sad the right to assert in the foreclosure proceeding the
non-ezistence of a deteult or any other defense of Borrower to aoceleration and foreeios~re. If tbe breach is not cured on or
before the date specified in t6e notice, Lender at Lender's option may declare all otthe sume secured by this ~ortgage to be ~
immediately due and payable without further demand and may foreclose this Mortgage by judiciel proceeding. Lender shall be
entitled to oollect in auch procecding all e:penses of foreclosnre. including, bnt aot limited to, reaeonable attorney'e fees, and
coeta of documentary evidence, abatracte and title reports. +
19. Bore~ower's Right to Reinatate. Notwithetanding Lender e soceleration of the aume secured by thia Mortgage, Borrower ahall have ;
the right to have any proceedinge begun by I.ender to enforce thia Mortgage diecontipued at any time prior to entry of a judgment enforcing
thie Mortgage if: (a) Bornower paya Lender all sums which would be then due under this Mortgege. the Note and notea securing Future
Advances, if any, had no seceleration ocxurred; (b) Borrower rures all breachee of any other covenents os agreem~ts of Borrower oontained in
this Mortgage; (c) Borrower paya- a1) reasonable ezpensea incutred by I,ender in enforcing the oovenants and_agreements of Borrower . `
oontained in this Mortgage and in enforcing Lender'a remedies as provided in paregraph 18 hereof, inclnding, but not limited to, reasonable ~
attorne 'e fcea; and (d) Borrower takes ench ection sa Lender may reseonably require to asaure that the lien of this Mo f
Y rtgage, I.ender's interest
in the Property and Borrower
a obligation to pay the sums aecared by thia Mortgage shall oontinue unimpaired. Upon such payment and cnre :
by Borrower, thia Mortgage and the obligations secured hereby shall remsin in fu11 forae and effect ae if no aoceleration had oocurred. '
Z0. Assi~nment of Rents; Appoiatment ot Receiver. Aa additional secvrity hereunder, Borrower hereby aeaigna to I.eader the rents
of the Property, provided thet Borrower ahall. prior to aoceleration ander paragraph 18 hereof or abandonment of the Proparty. have the right .
to collect and retain such rents as they become due and payable. . I
Upon aocekration undrr paragraph 18 htreof or abandonment of the Property. Leader shall be entitled to have a receiv6r appoiut~ed by a 1
oourt to enter~npon, take posseasion of and manage the Property and to collect the rente of the Property, including those past dne. All e+eata i
oollected by the reoeiver shall be applied first to payment of the oosta of management of the Property and oollection of r~tta, inGUding, bnt not '
limited to, receiver's feea, premiwns on reoeiver'e bonda and reasonable attorney'e fces, end then to the eume secured by this Mortgage. The !
reoeiver ehall be liable to aooount only for thoee rents actually received.
go~K 299 ~acE 624
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