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8. Ia~peMlon. I.ender may make or cauae b be rnade reawnable eAtries upoA and 'uupectiona of the propeety, pmvided that Iw~der ~hall
6~~ ~~~er notics prior to aay such iaspectioa specifyin~ reawnable caws therefor nleted b I.euder's intere~t in We Property,
9. Coademnedon. The proosed~ of any award or cleum for datnages~ direct or con~equential. in connectioA with aqy ooademaatioa or
oth~ talrin~ of the property, ~ part thereof, or for conveyance in Ueu of oondemnation, are hareby assigned and shall be paid to Lender.
Ia the eveat of a total takia~ of the ProPertY. the prooeed~ ~haU bs spplied to the sums secured by this MortgaQe, with tbe exoea. if any.
paid to Horrower. Ia the event of a partial taking of the Property. unlew Borrowes aad Lender otherwise agree in writing, there ahaU be
applied to the ~uQU ~ecured by this M~aQe such proportioa of ehe proceeds as ie equal to that proportion which the amount of We swaa
secured by this Mortgage imAnediately prior to the date of taking bear~ to !he fair market value oithe PropeKy immediete~yr prior to We date o!
taking, with the balaace of the proceeds paid b Borrower.
If the Prope~rty is abandoned by Botrower. ot ii. aRer notica by Lender to Borrowu that the o~ndeaanor oPtecs to make an award or settle a
claim for damager. Borrower faiL to rerpond to Lender within 30 days after the date such aotice is mailed. Lender is authorized to ooUect and
apply the prooeeds. st I.end~'s optioa. ei~leer to restoration or repair of the property or to the swns secured by this Mortgage.
Unless Lender and Borrowet oWerwise agree in writing, any such application of prceeeds to principai ahall aot eutend or postpone the due
date of the monthly installmenta refe~red b in paragraphs 1 and 2 hereof or chenge the amount of euch installmenta.
10. Borrower Not Released. E:teaaioa of the time for paymant or modi5cation of amortization of the auma eecured by thie Mortgege
granted by Lender to eny aucoeaeor in intereat of Borrower shap not operate to release, in any manner. the liability of
the original Borrower
and Borrowei
s succeswrs in interes~ Lender shall not be required to ooaomenoe pmceedings egainst auch auecessor or refuse to e:tend time
for payment or otherwiee modity amortization of the aume aecured by thie Mortgage by reason of aay demand made by the original Borrower
and Borrowez's auoceasors in interest.
11. Itorbearanoe by I.ender Not a Waiver. My forbearance by Lender in e:ercieing any right or nmedy hereunder. or otheiwi~
afforded by applicable law, ahall not be a waiver of or preclude the execciee of any euch right or remedy. The procur~nent of insnrance or the
payment of taues or oth~ Uens or chargee by Leader ahall not be a waiver of Lender's right to sooelerate the maturity of the indebtedn~s
secured by this Mortgege.
12. Remedies Cumulative. All remediea provided in this Mortgage are diabinct and cumulative to any other right or remedy under this
Mortgage or afforded by law or equity, and may be ezerc;ee~i wacurrendy. independeatly or euoceasivety.
13. 3ucceseore and Aseigas Bound; Joint and Several Liability; Captione.'17~e oovenants and agreementa herein oontained ehall
bind. and the rights hereunder shall inure to. the respective euoceeeors and assigns of Lender and Borrower, aubject to the provieions of
paragrap6 1? hereof. All covenants and agreementa of Borrower shaU be joint and eeveral. The captioas and headings of the paragraphe of
this Mortgage are for oovenience oaly and are not to be used to interpret or define the proviaione hereof.
14. l~otiee. Except for any notice required under applicable law to be given in another munner, (a) any notice to Borrower pmvided for in
thia Mortgege ahall be given by mailing auch notice by certified mail addreased to Borrower at the Property Addreea or at such other addrees as
Borrower may designate by notice to I,ender as pmvided herein, and (b) any notice to Lender ahall be given by certified mail, retum receipt
requeated, to L,ender'e addreea atated herein or to euch other address ae Lender may designate by notice to Borrower aa provided herein. My
notice pmvided for in this Mortgege shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
15. Unifocm Mortgage; Governing I.aw; $everability. Thia form of mortgage combinea uniform oovenanta for national uee and aon-
uniform covenante with iimited variatione by jurisdiction to oonatitute a uniform aecurity inetrument oovering real pmperty.'11~ie Mortgage
shall begoverned by the law of the jurisdiction in which the Property ia located. In the event that any provieion or clause of this Mortgage or
the Note conflicte with applicable law, auch rnnilict shall not affect other pmviaions of thie Mortgage or the Note which can be given effect
without the oontticting provision, and to thia end the provisiona of the Mortgage and the Note are declared to be severable.
16. Borrower's Copy. Borrower shall be furniahed a rnnformed aopy of the Note and of thie Mortgage at the time of e:ecution qr after
rncordation hereof.
17. Tranefer of the Property; Aasumption. If ail or any part of the Property or an intereat therein ia eold or traneferred by Borrower
without Lender'a prior written coneeat, e:cluding (a) the creation of a lien or encumbrance subordinate to thia Mortgage, (b) the creation of a
purchaee money eecority intereat for houeehold applisnces. (c) a tranefer by deviee, descent or by operation of law upon the death of a joint
tenant or (d) the ~crant of any leaeehold intereat of three years or leae not oontsining an option to purchaee, Lender may, at I.ender
s option.
declare all the anma eec~red by this Mortgage to be immediately due and payable. Lender shall have waived such option to aocelerate if, prior
to the sale or tranafer, I.ender and the person to whom the Property is to be eold or tranaferred reach agreemeat in writing that the credit of auch
' pereon is eatisfactory to Lender and that the interest payable on the auma secured by thia Mortgage ehall be at auch rate as Lender ahall
~ request. If Lender hae waived the option to accelerate provided in this paragraph 17, and if Borrowei a succesaor in interest has e:ecuted a
written ase~unption agreement aacepted in writing by Lender, Lender shall rnlease Borrower from all obiigationa under thia Mortgage and the
I! Note.
I If Lender e:ercisee such option to accelerate, l.ender ahall mail Borrower notice of acceleration in accordance with paragraph 14 hereof.
~ Such notice shall provide a period of not leas than 30 days from the date the notice ia rr.ailed within which Borrower may pay the aums declared
~ due. If BorroweT faile to pay such suma prior to the e:piration ot such period, I,ender may, without further notice or demand on Eiorrower,
~ mvoke any remedies permitted by paragraoh 18 hereof
~ 18. Acceleration; Remediee. E:cept ae provided in paragraph 17 6ereof. upon Borrower's breach of anq oovenant or
agreement of Borrower in thie Mortgage. including the oovenants to pay when due any eume seaured by thie ~Iortgage, Lender ~
prior to acceleration shall mail notioe to Borrower as provided in paragraph 14 hereof epecifying: (1) the breac6; (2) the action ;
required to cure auch breach; (3) a date. not lese t6an 30 days from the date the notice ie mailed to Borrower, by w6ich euch
breac6 muet be cured; and (4) that failure to cure such breach on or before the date specifed in the aotice may result in
acceleratioa of t6e eums secured by thie Mortgage. toreclosure by judicia! proceeding and eale of the Property. The notice ehall i
further inform Borrower of the right to reinatate aRer acceleration and the right to aesert in the forecloeure proceeding the
non-ezistence of a default or any other defense of Borrower to acceleration and forecloeure. If the breach ix not cured oa or
before t6e date specified in the notice, Lender at Lender's option may declare all of the sume secured by thie Mortgage to be
immediately due and payable without furtherdemand and may foreclose thie Mortgage by judicial proceeding. Lender ehall be
entitled to collect in euch proceeding all experises of foreclosure. including, but not limited to, reasonable attorney'e fees, and
coste of docvmentary evidence, aMrtracts and title reporte.
19. Borrower's Right to Reinatate. Notwithatanding Lender'a acceleration of the aume eecured by thie Mortgage, Borrower ahall have
the right to have any proceedings begun by Lender to enforce thia Mortgage disrnntinued~at any time prior to entry of a judgment enfurcing
thia Mortgage if: (a) Borrower pays Lender all eums which would be then due under thia Mortgage, the Note and notea securing Ftiture '
Advanoes, it any, had no acceleration oocuned; (b) Borrower curea all breaches of any other rnvenante or agreemente of Borrower contained in
~ this Mortgage; (c) Borrower paye all rnaeonable e:penaea incurred by I.ender in enforcing the oovenanfe and agreements of Borrower
~ oontained in thi8 Mortgage and in enforcing Lender's remedies as provided in paragraph 1&hereof, including, but not timited to, reasonable
~ attorney 8 feea; and (d) Borrower tahee such action aa Lender may reasonably require tc? assure that the lien of thia Mortgage, Lender's intereet
in the Property and Borrower'a obligadon to pay the aums secured by this Mortgage aha11 rnntinue unimpaired. Upon euch payment and cure
~ by Borrower, thie Mortgage and the obligationa secured hereby ahall remain in ful) force and effect ae if no acceleration had oct,~urred.
~ 20. Assignment of Rents; Appointment of Receiver. M additional eecurity hereunder, Borrower hereby aseigna to Lender the rents
~ of the Property~ provided that Borrower ahall, prior to acceleration under paragraph IS hereof or abandonment of the Property, have the right
~ to collect and retain such rents as they become due and payable.
~ Upon aoceleration under paragraph 18 hereof or abandonment of the Property, Lender ahall be entitled to have a receiver appointed by a
rnurt to enter.upon, take poeaesaion of and manage the Property and to rnllect the renta of the Property, including those past due. All rente
collected by the receiver ahall be appiied firat to payment of the ooate of managementof the Property and oollection of rente, including, but not
~ limited to, reoeiver's feea, premiuma on receiver'e bonds and reasonable attorney'e fcea, and then to the sums aecured by thia Mortgage. The
receiver ahall be liable to acoount only for thoee rente ectually received.
~ ~~?'~~312 ~~~;Fz537
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