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8. Inspection. L~der mey make or cau~e b bs mads reawaable eahrie~ upon and 'uupections of the pmps~ty, pmvided tha! Leader shal!
~ive Botto~rer aotios pzio: Lo aqy ~uc6 in~pectioa ~pecilSrin` reawtubk caws Lhatefuc related b Lendes's inten~t in the Propetf,y.
9. Condemnadon. The pTOOeeds of any ~wr~rd or cl~im for dama~e~, direct or ooa~equential. in ooanectioa with aqy oondamnatioa a~
other Lalrin~ of the property. os pat thereot. or far ooaveyewoe ia lien oi aond~natioa. are hereby a~sigaed and ahaU be paid b Lsader.
Ia the eveat of a toW takia~ oi the Property. the prooesd~ oh~ll bs applied to the snnu ~ecured by thi~ Mo~a~e, with tl~s euoen. if aqy.
paid to Borrower. Ia the eve~t of a psrtial tatin~ of We Peopeeqr~ unleM Ba~m~rer aad Lender othsrwiee ~ree in writin~~ there ~hall be
applied to the sunu ~s~wred by thi~ Mortsags such p~oportion of the prooeed~ as is equal to W at pmpo~rtioa wluch the amonnt ~ the sum~
secured by thi~ Mo~a~e immedistely p~ior to We date of taivng bears to the fair market value of the Propetty immediately prior to tl~e date of
takin8. with tbe balanoe of the prooeed~ paid to Bore~o~ver.
If the Property u sbandoned by Bo:rorrer. cr i~ attu notioe by Leader to Botrowar that the o~ndemnor offen to make aa a~rard or ~ettle a
claim fos daa4aQe~, Bon~o~ver faib to respond to L~d~ within 30 dsy~ aRar the daLe ~uch notioe is mailed, L~der is auWorised to ooAect and
appu? the prooeeds. at Lender'~ option. either to twtoration a~ rapair of the property ot to the snms sscured by Wis Mwrt~aQe.
Udees Leader and Borrower othan?i~s a~ree in writing. any snch application of pioceeds to principel shall aot sutend a~ postpone the dae
date of the month~y iastallmenta rafirred tu in p~ra~raplu 1 e~nd 2 he:eof or chan~e the amouat of such uutallments.
10. Borrower Not Relea~ed. F~tenaion of the time for payaaant or modification of amortisation of the sums secured by this Mort~age
granted by Lender to any suocee~or in interest of Borrower ahall not operate b release. in any manaer. the liability of We oriQinal Borrower
and Borrowez's suaoesson ia int~es~ I.ender shall not be required to aommenoe proceedings against such sucoe~wr or refwe to e:tend time
for payment or otherwise modify amortisation of the eums secured by this Mortgage by reaeon of any demand made by the original Borrowe~
and Borrower
s auoceeaora ia intcrest.
11. Forbearanoe bp I.ender Not a Waiver. Any forbearance by I.wder in ezerc~ising aay right or nmedy henunder. or otherwiae
a~orded by applicabk law. shall nat be a waiver of or preclude the e~~ aoy such right or remedy. The pr~curemeat of insuranoe a the
payment of ta~ces oc other liena or charges by Lender shall not be a wai ot I.ender's right to aocele9rate the maturity of the indebtednaa
secured by this Mo~tgag~
12. Remedies Cmm~lative. All nmedies provided in this Modgage are diatinct and cum~ilative to any other right or remedy under this
Mortgage or atYorded by Is~r or eqaity, end may be ezercise.i aoncurrendy, independenUy or snooessively.
13. 3uooe~sors aad Assi~n~ Bound; Joint and 9everal Liability; Caption~.'1Le aovenanb and axreemente herein oontsined s6all
bind. aad the rights hereund~ shaU innre Lo. the napective suoceawn and asaigns of I.ender and Borro~va. snbject to the proviaions of
paragraph 1? hereot All oovenanta aad agreements of Borrowe~ ahaU be joiat and several. The captions and headings of the paragrap6s of
this Mortgage are fos oovenienoe oaly aad are not to be used to interpret ~ de5ne the proviaions heieof.
14. NoNoe. $:cept for any notioe required under applicable law to be given in anotha manner. (a) sny notice to Borrower provided forin
thia Mortgage shell be given by mailing snch notice by certified mail addressed to Borrower at the Property Adrlrees or at snch other address as
Borrower may designate by notice to Lender ea pmvided herein, and (b) any notice to I.ender shaU be givea by cecti5ed mail. retura reoeipt
requested, to I.ender's address stated he:ein or to such other address as I.ender may designate by notice to Borrower aa provided herein. Any
notice pmvided for in Uus Mortgage shall be dcemed b have been given to Borrower or Lender whea given in the manner designated ha+ein.
15. Uniform Mort~age; Goveraing I.aw; Sevexabil~ty. Thia form of mortgage oombines uniform ooveaants for aational use and noa-
uaiform oovenants with limited variations by jnrisdiction to conatitute a uniform sec~vity instrument oovering real P~P~Y. Thia Mortgage
ahall be govemed by the law of We juriadiction in ~vhich the Property ia located. In the event that any pmvieion or clause of this Mortgage or
the Note contlicfa with applicable law. auch conflict shall not a![ect other proviaiona of this Martgage or the Note which can be giv~ effect
without the oontlicting_ provision, and to this end the pmviaions of the Mortgage and the Note are declared to be eeversble.
1& Borrower'e Copy. Borrower shall be furniahed a oonformed oopy of the Note and of thie Mortgage at tl~e time of ezecntion or aftez
reoordation hereof.
17. 7lratufer of the Property; Assumption. V all or any part of the Property or an interest therein is aold or traneferred by Borrowrr
without I.eader's prior written consent, ~cluding (a) the creation of a lien or encumbrance subordinate to thia Mortgage, (b) Lhe creation of a
purchaee money eecurity interest for household applianas. (c) a tranefer by devise, deeoent or by opaation of law upon the death of a joint
tenant ar (d) !he grant of any leaeehold interest of three yeats or less not oontaining an option to purchaee, Lender may. at Lender'a optiop.
declare all the aums secured by thia Mortgage to be immediately due and payable. L.ender shell have waived sach option to aocelerate if. prior
to the eale or tranafer, Lender and the person to whom the Property ia to be aold or tranaferrcd reach agree:nent in w~iting that the credit of snch
i person is satisfactory to Lender and that the intereat payeble on the auma eecured by this Mortgage ehall be at such rate as Lender ahall
~ requeat. If Lender has waived the option to accelerate prnvided in thia paragraph 1T~ and if Borrower a succeseor in intereat hae e:ecuted a
written aseamption agreement aocepted in writing by Lender, Lender shall release Borrower from all obligationa under thie Mortgage and the
Note.
~ If i.ender euercieea such option to aooelerate. [.ender ehall mail Borrower notice of accelezation in acoordance with paragraph 14 hereoL
~ Such notice shall pmvide a prriod of not leae than 30 daye trom the date the notice ia cr,ailed within which Borrower may pay the eume declared
~ due. If Borrower faila to pay auch aume prior to the e:piration of such period, Lender may, without further notice or demand on Eiorrower.
invol[e any remedies permitted by paragraoh 18 hrreof
t
18. Acceleration; Remedies. E:cepi as prnvided in paragraph 1? hereof, upon Bornower's breach of any oovenant or
agreement of Borrower in ihis Mortga~e, inclnding tbe oovenants to pay when due any sams eecured by this Mortgage. Lender
prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specit~+ing: (1) the breach; (2) the action
required to cure suc6 breac6; (3) a date, not less than 30 daye l~om the date the notice is maile~ to Borrower, by whlch such
breach mast be cured; and (4) that lailure to cure snch breach on or before t6e date specified in the notice may result in
aoceleration of the sums secured by this Mortgage, foreclosure by judicisl prooeediag aad sale of the Property?. T6e notice ehall
further iaform Borrower o! the right to reinstate atter acceteration and the right to ageert in the toreclosure proceeding the
non-ezistence ots de[ault or eny ot6er de[ense of Borrower to aoceleration and foreclosure. If the breac6 i8 not cured on or
before the date .peciRed in the notice. Lender at I.ender's option may declare all ot the suma eecured by this Mortgage to be
immediatety due and payabie wilhout further demand and may foreciose this biortgage by judlciai proceeding. Lender shall be
~ entitled W oollect in such proceeding all e:penses of foreclosure. including, bat not limiLed to. reaeonable attorney'e fees. end
coste of documentary twidence, abstracts and title reports.
19. Borrower's Right to Reinetate. Notwithetanding Lender
a aoceleration of the aume eecured by this Mortgege, Borrower ahall have
the right to have any proc~eedings begun by I.ender to enforce thie Mortgage discontinued atany time prior to entry of e judgment enforcing
this Mortgege if: (a) Borrower paye I.ender all auma which would be then due under this Mortgege, the Note and notes eecuring Future
Advancea, if any. had no acceleration occurred; (b) Borrower curee all breaches of any other covenants or agreemente of Borrower rnntained in
~ this Mortgage; (c) Borrower pays all reasonable ezpenaea incureed by Lender in enforcing the oovenants and agreemente of Borrower
~ oontained in thie Mortgage and in enforcing Lender e remedies ae provided in paragraph 18 hereof. including, but not limited to, reasonable
~ attorney'a feea; and (d) Borrower talcee snch action aa Lender may reasonabiy require to asaure that thelien of thie Mortgage, Lender e interest
~ in the Property and Borrower
a obligation to pay the sums secured by thie Mortgage shaU continue unimpsired. Upon euch payment and cnre
by Borrower, this Mortgage and the obligationa secnred hereby ehall remain in fnll force and effect ae if no aoceleration had occurred.
~ 20. Aesi~nment ot Renta; Appointment o! Receiver. Ae additional eecurity hereunder, Borrower hereby asaigns to Lender the rents
of the Property, pmvided that Borrower ahall, prior to aoceleration under psragraph 18 hereof or abandoament of the Propaty, have the right
~ to rnlled and retain such renta as they become due and payable. ~
Upon accekretion under paragraph 18 hereof or abandonment of the Property, Lender shall be entitled to have a receiver appointed by a
~ oourt to enter~npon, take poeseasion of and menage the Property and to oollect the renLs of the Property, including thoee paet due. All rente ~
~ oollected by the receiver shall be applied first to payment of the oosta of management of the Property and collection of rents, including, but not
~ limited to, receiver's fees, premiums on receiver'e bonds and reaeona~le attorney's feea, and then ~o the aume ~ecured by this Mortgage. The
receiver shall be liable to aooount only for thoee rents actually received.
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~ =~}R~ 311 ~a~:17i~.
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