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8. In~pection. Let~der may make or cause b be made reasonable entriee upon and inspectiona of the property. provided thet L.eader ahaU
give Borrower notioe prior t~o any such inapection specifying reasonable cauee therefor related to Lender's intereet in the Property.
9. Condemnwtion. The prooeeds of any eward or claim for damaRes, direcl or oonsequential, in connection with any oondemnatioa or
other taking of the property, or part theseof. or for conveyanoe in lieu of oondeianation. are hereby aeaigned and shall be paid to I.ender.
Ia the eveat of a btal taking of the Property. the proceeda ahe11 be appUed to the sua?s eecured by this Mortgage, wilh the ~cess. if say.
paid Lo Borrower. In the event of a partial taking of the Propaty. ui?lees Borrower and l.ender otherwiee agree ia writine. there shall be
appGed to the euma secured by this Mortgage such pmportion of the prooeeds as is equal to that proportion which the amount of the sums
aecured by thie Mortgage immediately pTior to the date of taking bears to the fair market value of the Property immediatelY Prior to the date of
taking. arith the balaac~ of the prooeeds Paid to Borrower.
If Lhe Property is abandoned by Borrower. or if, aRer notice by Lender to Bonower that the cendemnor offers to mel~e an award or settle a
cl aim for damagea. Bormwer faile to respond to I.ender within 30 days after the date auch notice is mailed, Lender is authorised to coUect and
apply the procceds, at Lender a optioa, either to restoration or repair of the pmperty or to the suma eecured by thie Mortgage. .
Unleea Lender and Borrower othe~rwiee a8ree in writinB. ~Y eU~ aPPli~aon of proceeds to principal shall not e:tenc~- or postpone the due
date of the monthly inetallments referred to in paraBraPhs 1 and 2 hereof or chanBe the amount of euch inataUmenta.
10. Borrower Not Releaeed. Extenaion of the time for paym~nt or modificetion of amortization of the euma ee~cured by this Mortgage
granted by Lender to any aucceseor in interest of Borrower shaU not operate to releaee, in any manner, the liability of the original Borrower
and Borrowei a auc~,~essora in intereaf~ I.ender ahall not be required to commence proceeciinge against sueh euccesaor or refuee to extend time
for payment or otherwise modify amortization of the suma secured by this Mortgage by reaeon of any demand made by the original Borrower
and Borrower's successors in interes~
11. Forbearance by I.ender Not a R/aiver. My forbearance by Lender in e:ercieing anY riSht or remedy hereunder. or otherwiee
afforded by applicable Iaw, ehaU not be a waiver of or preclude the ezerciee of any such right or remedy. The procurement of inaurance or the
payment of ta:ee or ether liena or chargea by Lender shall not be a waiver of Lender s right to accelerate the maturity of the indebteduese
aecured by thie biortgage.
12. Remediea Cumulative. All remediea provided in this Mortgage are distinct and cumulative to any.other right or remedy under thie
blortrage or afforded by law or equity, and may be e:erciaeti ooncurrently, independently or auccesaively. '
13. Succeseors and Assigne Bound; Joint and Several Liability; Captione. The covenanta and agreements herein rnntained shall ~
bind, and the righte hereunder ahall inure to. the respective succeasors and aseigne of Lender and Borrower, aubject to the ~roviaiona of s
paragraph 17 hereof. All covenants and agreementa of Borrower ahall be joint and eeveral. The captione and headings of the paraBrephe of
this Mortgage are for covenience only and are not to be uaed to interpret or define the proviaione hereof.
14. Notice. Except for any notice required under applicable law to be qiven in anofher manner. (a) any noticti to Borrower provided forin
t his Mortgage shall be given by mailing such notice by certified mail addressed to Bor*'uwer at the Property Address or at such other addreae as
Borrower may deaignate by notice to Lender as provided hemin, and (b) any notice to Lender shall be given by certified mail, return receipt
requested, to Lender's addmas atated herein or to auch other addresa as I.ender may designateby notice to Borrower as provided herein. Any
notice provided for in this Mortgage shali be deemed to have been given to Borrower or Lender when given in the manner deaignated herein.
15. Uni[orm Mortgage; Governing i.aw; Severability. This fora? of mortga8e combinea uniform oovenants for national uee and non-
uniform covenants with limited variations by juriediction to conatitute a uniform security instnuuent covering real property. This Mortgage
shall be governed by the law of the jwisdiction in which the Property is located• ln the event that any proviaion or clause of thie Mortgage or
the Note conflicts ~tvith applicable Iaw, such conflict shall not af~ect other provisions of this Mortgage or the Note which can be given effect
without the conflicting proviaion, and to this end the proviaiona of the Mortgage and the Note are declared to be aeverable.
16_ Borrower's Copy. Borrower shall be furnished a conformed rnpy of the Note and of this Mortgage at the time of execution ~r after
recordation hereof
17. '15ransfer of the Property; Aseumption. If all or any part of the Property or an interest therein is sold or tranaferred by Borrower
without Lender's prior written conaent, eacluding (a) the creation of a lien or encumbrance subotdinate to thia Mortgage, (b) the creation of a
purchase money security interest for houaehold appliances, (c) a transfer by devise, descent or by operation of law upon the death of a joint
tenant or (d) the grant of any leasehold interest of three years or lesa not rnntaining an option to purchase, Lender may. at Lendei a option,
I declare all the aums aecured by this Mortgage to be immediately due and payable. Lender shall have waived such option to accelerate if, prior
; to the sale or transfer, Lender and the person to whom the Property is to be soid or transferred reach agreement in writing that the credit of such _
' person is satiafactory to I.ender and that the interest payable on the sume secured by this Mortgage shall be at such rate as Lender ahall
f request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has executed a
~ written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all obligations under this Mortgage and the
[ tiote.
If Lender exerrises such option to accelerate, I.ender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof.
Such notice shall provide a period of not less than 30 days from the date the notice is mailed within which Borrower may pav the sums declared
due. If $orrower fails to pay such sums prior to the eapiration of such period, Lender may, without further notice or demand on E3orrower,
' ~nvoke any remedies permitted by paragrauh lA hereof.
~ 18. Aoceleration; Remedies. E:cept as provided in paragraph 17 hereof, upon Borrower's breach of any oovenant or
~ agreement of Borrower in this Mortgage. including the covenants to pay w6en due any sume aecared by this Mortgage. Lender
prior to aoceleration shall mail notice to Bormwer as prnvided in paregraph 14 hereof apecifying: (1) the breach; (2) the action
required to cure such breach; (3) a date, not less than 30 daye from the date the notice is mailed to Borrower. by w6ich such
breach must be cured; and (4) that failure to cure auch breach on or before the date specified in the notice may result in
acceleration of the sums aecured by this Mortgage, foreclosure by judicial proceeding and eale of the Property. The notice ehall
~ further inform Borrower of the right to reinstate after acceleration and the right to aeaert in the foreclosure prceeeding the
~ non-e:istence of a default or any other defenae of Borrower to soceleration and foreclosure. If the breach ia not cured on or
before the date epecitied in the notice. Lender at Lender's option may declare al! of the eums eecured by thie Mortgage to be
immediately due and payable without further demand and may forecloae thie Mortgage by judicial proceeding. Lender shall be
entitled to collect in such proceeding all e:penses of foreclosure, including, but not limited to. reasoaable ettorney's feea. and
coste of documentary evidence, abstracts and title reports. ~
~ 19. Borrower's Right to Reinstate. Notwithatanding Lender's acceleration of thesu s secured by this Mortgage, Borrowerahall have
; the right to have any proceedinge begun by Lender to enforce this Mortgage diecontinued at any time prior to entry of a judgment enforcing
k this Mortgage it: (a) Bo~wer paya Lepder all aums which would be then due under this Mortgage, the Note and notea eecuring Future
~ Advances, if any, had no acceleration occurred; (b) Borrower cure8 all breachea of any other covenante or agreemente of Borrower contained in
~ this Mortgage; (cl Borrower pays all reasonable expensea incurred by Lender in enforcing the covenanta and agreementa of Borrower
~ contained in this Mortgage and in enforcing Lender's remedies as provided in paragraph 18 hereof, including. but not limited to, rnaaonable
= attorney's feea; and (d) Borrower takes s~ch aMion as Lender may masonably require to aeaurn that the lien of thia Mortgage, Lendet'e interest
~ in the Property and Borrower s obligation to pay the auma secured by thia Mortgage ehall continue unimpaired. Upon such payment and cnre
: by Borrower, thia Mortgage and the obligations eecured hereby shall remain in full force and effeM as if no acceleration had occurred.
~ 20. Aesignment of Rente; Appointment of Receiver. As additional eecurity hereunder, Borrower hereby aseigne to Lender the rents
= of the Property, provided that Borrower shall, prior to acceleration under paragraph 18 hereof or abandonment of the Propercy, have the right
~ to collect and retain auch rents as they become due and payable.
s Upon acceleration under paragraph 18 hereof or abandonment of the Property, Lender ahall be entitled to have a reoeiver appointed by a
~ oourt to enter~upon, take poaseseion of and manage the Property and to collect the renta of the Property. including those paet due. Ail rents
oopected by the re~cxiver ahall be applied firat to payment of the ooats of management of the Property and collection of rente, including, but not
~ limited to, receiver's feea, premiums on receiver e bonda and reasonable attorney's fe~, and then to the auma eecured by this Mortgage. The
~ receiver ahal) be liable to acoount only for those rente actually received.
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_ . F~ ~11 F~t~ 2284
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