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K. Inepection. l.ender may make o~ cauee to be made reaaonable entnee upon and inspectiuns uf thr proprrty, provided that I.ender ehaU
Kive El~rn~wer nutice priur to any such inspection epecifying rraaonable cauxe therefor nlated to lender'r lntrreat io the Property.
Condemnation. The proceede of uny award or claim for dpmages, direct or conseqnential, in connection with any condemnation or
+~ther txking of lhe property, or part thereof, o~ for conveyance in lieu of condemnation, are hereby axeigned and ehall be paid W l.ender.
In the event o! e toti+l tnking of the Property, the proc~eede ehall ba applied to the auma eecured by thie Mortgage, with the excese, if any,
paid to ~3orrowe~. !n the event of a partial taking of the Property, unleee E3orrower snd I.ender otherwise agree in writing, there ahell be -
upplieci to lhe auma eecurrd by this Mortgage euch proportiun of the proceeds ae is equal to that proportio~ which the amount of the aums
secureci by thie Murtgage immediately prior to the date ot taking beara to the fair market vatue of the Property immediately prior to thedate of
t~kinK, wlth the balanca of the peoceede paid to E3orrower.
If lhe F'roperty ia abandoned by E3orrower, or if, after notice by I,ender to E3urrower that the condemnor offera to make an award or eetde e
claim for damagee, Borrower faile to respond to [.ender within 3(1 daye after the date auch notice ia maited, [.ender is aulhorized W collect and
~ipply the proceeda, at I.ender'e option, eithe~ to teatoration or repair of ihe property or to the eume aecured by thie Mortgage.
l'nleas Lender and Eiorrower otherwise agree in writing, any euch application of proceeds to principal ahall not e:tend or poetpone the due
dute uf the monthly installmenta referred to in paragraphs 1 and 2 hereof or change the amount of euch inatallments.
t~~. Rorrowe~ Not Released. Extension of the time !or paym~nt or modification of amortization of the aume secured by thie Mortgage
~trxnted by I.ender to any auccexaor in internst of Borrower shall nut operate to release, in any manner, the liability of the original Borrower '
.?nd Borrower'a successors in interest. l.ender ahaU not be required to commence proceedings againat such succexsor or mluse to extend time "
Cor payment or otherwise modify i~mortization of the sumy aecurrd by this Mortgage by reasun of any demund made by the original Borrower
.~nd &rcrower's wrcrssora in interext.
11. Forbearance by Lender Not e VYaiver. My forbearance by [xnder in exercising any right or remedy hereunder, or otherwiee
affi~rded by applicable law, ahal) not be a waiver of or preclude the exenise of any auch right or remedy. The procurement of inaurance or the
payment of taxes or other liena or churges by l~ender ahall not be a waiver o[ l.ender'e right to accelerate the maturity of the indebtedneae
securecl by thie Mortgage.
1'L. Remedies Cumuletive. All remedies provided in thia Mortgage are diatinM and cumulative to any other right or remedy under this
'ltortgage or afforded by law or equity, and may be exerciaerl ooncurrently, independentty or successively.
13. Succesaors and 4asigns Bound; Joint and Several Liability; Captione.l'he covenante and agreements hernin contained ehall
bind, and the rights hereunder ahall inure to, the respective aucceasors and asaigns of I.ender and Borrower, subject to the provieione of
paragraph 17 hereof. All covenenta and agreementa of Borrower ahall be joint and several. The captiona and headinga of the paragraphs of
this titortgage arn for covenience only and are not w be used to interpret or define the proviaions hereof.
14. Notice. F:xcept for siny notim reyuired under nppiicable lavr to be given in another manner,lal any notice u~ B~rrower provided forin
this Mortgage shall be given by mailinq such notice by certified mail addreased tu Borrower at the Property Addmas or at auch other addrees as
liorrower may deaignate by notice to l.ender as provided herein, and Ib) any notice to I.ender shall be given by certified mail, return receipt
rrqueRted, to t.endei s address ata~ted hemin or to such other addreaa as [.ender may designate by notice to E3orrower as pro~~ded herein. My
notice pro~~ded for in this Mortgage ahall be deemed tu have been given W I3ormwer or l.ender when given in the manner deaignated herein.
1 Uniform Mortgage; Governing Law: Severability. This form of mortgagecombines uniform rnvenants for national use and non-
uniform covenante with limited variatiuna by jurie~dict~on to rnnstitute a uniform aecarity instrument oovering real property. This Mortgage
,hull t~ Kuverned by the l~w• of the jurisdiction in which the Property is lo~
ated. In the event that any pn?vision or clause of this Mortgage or
thr Note ron(licts w~th applicable law, such Mnflict shall not affect other provisions of this Mortgage or the Nc?te which can be given effect
ithuut tl?c conflicting ptt~~iaion, and to this end the pro~•isions of the hlortgaKe and the Note are declared to be severable.
i h. liorrower's Copy. }3orrower shall be furnished a conformed copy af the Note and of thia Mortgage at the time of execution or after
rcrordation hereof.
t~. TranefPr nl'the Property; Aseumption. I[ all or any part of the Property or an interest therein ie soid or transferred by E3orrower
:.•it~uut l.~~nder's prior written consent, excluding ~a) the creation of a lien or encumbrance aubordinate co this Morigage, (b) the crnation of a
;~urct~ase money security interest for houaehold appliances, (c1 a transfer by devise, dc>acent or by operation of law upon the dea~h of a joint
tF~nant or Ic~l the krant of any leasehold interest of three yeara or less not containing an option to purchase, Lender may, at Lender'e option,
~ic~c~l~ire all the sums secured by this Mc~rtgage to be immediately due and payable. Lender ahall have waived such option to accelerate if, prior
t~, the sale or tranafer, Ixnder and the peraon to v~ hom the Property ia to be sold or transferred reach agreement in writing that the credit of euch
~ person is satisfactory to l.ender and th:~t the intereat payable on the sums secured by this MortgaRe shail be at such rate as I.ender shall
F rt~c~u~t. lf l.ender h.ix Kaived the option to accelernte provided in this paragraph 17, and if E3orrower's successor in interest has executed a
j u•ntten ~?ssumption uKreement accepted in wrilinK by (.ender, I.ender ahall release Korrower from allobligations underthis Mortg~ge andthe
f \ pte.
; If I.ender exerc•ises such option to ~ccelerate, [.ender shall mail Rorrower notice of acceleration in accordance w-ith paragraph 14 hereof.
¢ ~uch nntice shall provide a peri~rd uf not le~:~ than :i0 da~•s from thed~te the notice is tr.ailed within N hich Borrower may pay thesumsdeclared
due. If Borrow•er fails to pay such xums prior to the expiration uf such period, [.ender may, vkithout further notice or demand on Eiormwer,
; invokeany remc~iirs permitted by paraRraoh IN hereuf.
~ 18. Acceleration; Remedies. F zcept as provided in paragraph 17 hereof. upon Eiorrower's breach ot any rnvenant or
~ agreement of l3orrower in this Mortgage. including the covenanta to pay when due any eums aecured by this Mortgage, Lender
~ prior to acceleration shali mail notice to Rorrower as provided in paraqraph 14 hereof epecifying: ~1) the breach; (2) theaMion
~ reyuired to cure such breach; (3) a date. not lesa than 30 daya from the date the notice ia mailed to Borrower. by which euch
~ breach muet be cured: and (41 that failure to cure auch breach on or before the date specified in the notice may reault in
~ ~~cceleration of the sums rcecured by this 1~lortgage, foreclosure by judicial proceeding and sale of the Property. The notice ehall
further inform Borrower of !he riRht to reinetate aRer acceleration and the right to esaert in the foreclosure proceeding the
~ non-e:iatence of a default or any other defenae of Rorrower to acceleration and foreclosure. if the breach ia not cured on or
~ ?~c~fore the date specified in the notice. I.ender at Lender's option may declare all ot the suma scrured by thia Mortgage to be
i mmediately due and payable ~cithout further d~•mxnd and may foreclose this Mortgage by judicial proceeding. l.ender shall be
~ t~ntitled tu collect in r~uch proceeding all cxpenxex otforeclosure, including. but not limited to, reasonable attorney's fees. and
~ ~•osts of documentary evidence. abstracts and title reports.
~ 19. E3orrower's Right to Heinetate. NotwithstandinK I.ender's acceleration of thesuma eecured by this Mortga~e, Borrowerahall have
~ the riKht to have am pruceedings beKun by I.ender to enform this ;1lortgaqe diacontinued at any time prior to entry of a judKment enforcing
this MortgaKe if: (a? Eiorrr~wer pays I.ender all sums vehich would be then due under thia Morigage, the Note and notes securing Future
~ Advancea, if any, had no acceleration occurred; (bl }3orrower cures a11 breaches of any other covenanta or agreementa of E3orrower contained in
th~a ~tort{;aKe; Ic) Borrower paye all reasonable expensea incurred by I.ender in enforcing the covenante and agreemente of E;orrower
conuiined in this 111ortKaKe and in enforcing I.ender's remediee; as pro~~ded in paragraph 18 hereof, including, but not limited to, rnasonable
attorney's feea: and Id? Borrower takea auch action as [.ender may reasonably require to asaure that the lien of thia Mortgage, [.ender's intereet
in the Property and Rorrower's obligation to pay the sums secured by this bto~age shall continue unimpaired. Upon such payment and cure
~ by E3~rtower, this AtortgaKe and the obliKatic,ns secured hereby ehall remain in full force and effect ae if no acceleration had occurred.
~ 'lU_ Aseignment of Rents; Appointment of Heceiver. As additinnal security hereunder. I3orrower hereby asaigna to I.ender the rente
u[ the E'roperty, provided that E3orrower shall, prior to acceleration under paragraph 18 hereof or abandonment of the Property, have the right
~ tv collect and retain such rent8 as they become due and payable.
Opon acceleration under paragraph 1H hereo! or abandonment of the E'roperty. I.ender ahall be entitled to ha~ e a receiver appointed by a `
murt W enter upon, Lake possesaion of and manage the Property and to collect the rents of the Property, including those paet due. All renta
cvllected by the receiver shall be applied first to payment of the costa of manaKement of the Property and collection o[renis, including, but not
r~ limited to, receiver'a fees, premiuma un receiver's bonds and reasonable nttorney's fees, and then to the suma eecured by this Mort{tage. The
recei~er ahall be liable to account unly for those rents aMually recei~•ed.
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