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8. Inspection. Leudsr may make or caws to be made rsawnable entries upon and inspectiorm of the prope~jr.provided ~atLoader shall
giw Borrower notice prior to aqq each inspection specifying seasonable caws therefoe related to Lender's interest is tM~~roper~y.
8. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or
other taking of the propeety, or part thereof, or foe oonwyanes in lien of oondemnatioq are hereby assigned and shall be paid to Lender.
In the event of a total taking of the Property. the proceeds shall bs applied to the suau secured by this Mortgage, with the esoess„ if any,
paid to Borrower. In the event of a partial taking of the Propec~y. ndees Borrower and Lender otherwise agree in writing. there shall be
applied to the wms secured by this Mortgage such propoetion of the proceeds a. is equal to that proportion which the amount of the sums
secured by this Mortgagy immediately prior to the date of taking beers to the fair market value of the Property immediately prior to the date of
taking. with the balance of the proceeds paid to Borrower.
If the Propergr is abandoned by Borrower, or i~ after notice by Lender to Borrower that the condemnor offere to make an award or setae a
claim for damages, Borrower fails to respond to Lender within 30 days aRer the date such notice is mailed, Fender is antkarized to Dolled and
apply t1Ne proceeds, at Leader's option, either to restoration or repair of the property or to We sums secured by this Mortgage.
Udeea Lender and Borrower oWerwise ogres in writing. any each application of ps+ooesds to principal shall not extend ce postpone the due
date of the monthly installments referred to in paragraphs 1 and Z ber+eof or change the amount of each installments.
10. Borrower Not Released. Extension of the time for payment or modi5cation of amortisation of the soma secured by this Mortgage
granted by Lender to any anocesaor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower
and Borrower's successors in interest. Lender shall not be required to commence proceedings against ouch successor or refuse to erctend time
for payment or otherwise modify amortization of the soma secured by thin Mortgage by reason of any demand made by the original Borrower
and Borrower's successors in interest.
11. Forbearance by Lauder Not a Waiver. Any forbearance by I.enda in e:eaising any right or remedy hereunder, oe otherwise
afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance o: the
payment of taxes or other liepa or charges by Lender shall not be a waiver of Lender's sight to accelerate the maturity of We indebtedness
secured by thin Mortgage.
12 Remedies Camaladve. All remedies provided in this Mortgage are distinct and camnlative to any other right or remedy under this
Mortgage or afforded by law or equity, and may be exercised eoncnsa+ently, independently os snoceasively.
13. Suooessors and Assigns Bound; Joint and Several Liability: Captions. The oovenanta and agreements herein contained shall
bind, and the rights hereunder shall inure to, the nspectiw snoceseore and assigns of Lender and Borrower. anbject to the provisions of
paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. The captions and headings of the paragraphs of
this Mortgage an for ooveaience only and are not to be used to interpret or define the provisions hereof.
14. Notice. E:Dept for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in
this Mortgage shall be given by mailing each notice by certified mail addressed to Borrower at We Property Address or at such other address as
Borrower may designate by notice to Lauder as provided herein. and (b) any notice to Lender shall be given by oerti5ed mail, relates receipt
requested. to Lender's address stated herein or to such other address as Lends may designate by notice to Borrower as provided herein. Any
notice provided for is this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
15. Uniform Mortgage; Governing Law; SeverabWty. This form of mortgage combines uniform covenants foe national use and non-
uniform covenants with limited variations by jnriadiction to eonstitnte a uniform security instrument wveriag real property. Thies Mortgage
shall be governed by the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Mortgage or
the Note conflicts with applicable law, ouch conflict shall not affect other provisioaa of this Mortgage or the Note which can be given effect
without the conflicting provision, and to this end the provisions of the Mortgage and the Note are declared to be severable.
16. Borrower's Copy. Borrower shall be furnished a conformed Dopy o! the Note and of this Mortgage at the time of execution or after
recordation hereof.
1?. Transfer of the Property; Assumption. If all or any part of We Property or as interest therein is sold or transferred by Borrower
without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to this Mortgage. (b) the creation of a
purchase money security in ~ a transfer by devise, descent or by operation of law npoa tbe death of a joint
tenant or (d) the grant of any~arl se ~ or leas not containing an option to purchase, Lender may, at I.eader'a option,
declare all the name secured by this a te~? due and payable. Lender shall have waived such option to aooderateif, prior _
to the sale or transfer, Lender an is to be sold or transferred reach agreement in writing that the credit of sack
person is aatisfacyory to Lender~~ft~yab a on the anma secured by this Mortgage shall be at each rate as Lender shall
request. If Lender has waived the option to accelerate provided is this paragraph 17, and if Borrower's aueoesaor in interest has executed a
wntteu assumption agreement accepted in writing by I.ender, Lender shall release Borrower from all obligations under this Mortgage and the
Notes
If Leader exercises each option to accelerate, Lender shall mail Borrower notice of aeoeleration in accordance with paragraph 14 hereaL
Such notice shall provide a period of not less than 30 days from the date the notice is mailed within which Borrower may pay the sums dedared
due. If Borrower fails to pay such sums prior to the e:pvation of such period, Lender may, without farther notice or demand on Borrower,
invoke any remedies permitted by paragraoh 18 hereof.
! 18. Aceleration; Remedies. Ezcept as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
agreement of Borrower in this Mortgage, including the covenants to pay when due any sums secured by this Mortgage, Leader
prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action
required to cure such breach; (3) a date, not lees than 30 days ftom the date the notice fa mailed to Borrower, by which such
breach moat be cured; and (4) that failure to cure wch breach on or before the date specified in the notice may result in
acceleration of the same secured by this Mortgage, foreclosure by Judicial proceeding a~ sale of the Property. The notice shall
further inform Borrower of the right to reinstate after acceleration and the right to assert in the toreclosnre proceeding the
non-ezistence of a default or any other defense of Borrower to acceleration sad foreclosure. If the breach i. not cured on or
before the date specified in the notice, Lender at Lender's option may declare all of the soma scarred by this Mortgage to be
immediately due and payable without fnrtherdemand and may foreclose this Mortgage by judicial proceeding. Lender shall be
) entitled to collect in such proceeding all ezpenses of foreclosure, including, bat not limited to, reasonable attorney's fees, and
l coats of documentary evidence, abstracts and title reports.
19. Borrower's Right to Reinstate. Notwithstanding Lender's aooeleration of the soma secured by this Mortgage, Borrower shall have
the right to have any proceedings begun by Lender to enforce this Mortgage diseontinned at any time prior to entry of a judgment enforcing
this Mortgage if: (a) Borrower pays Lender all sums which would be then due Hader this Mortgage, the Note and notes securing Phtnre
~ Advaneea, if any, had no aooeleration occurred; (b) Borrower cures all breaches of say other covenants or agreements of Borrower contained in
~ this Mortgage; (c) Borrower pays all reasonable ezpenees incurred by Lender in enforcing the covenants and agreements of Borrower
contained in this Mortgage and in enforcing Lender's remedies as provided in paragraph 18 hereof, including, but not limited to, reasonable
attorney's fees; and (d) Borrower takes ouch action as Lender may reasonably require to assure that the lien of this Mortgage, Lender's interact
in the Property and Borrowe~a obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upon arch payment and can
i by Borrower, thin Mortgage and the obligations secured hereby shall remain in fall force and effect as if no axeleration hsd oexarred.
20. Assignment otTlents; Appointment of Receiver. Aa additional security hereunder, Borrower hereby assigns to bender the rents
of We Property, provided that Borrower shall, prior to acceleration ender paragraph 18 hereof or abandonment of the Property, haw thesight
to collect and retain such rents as they become due and payable.
Upon acceleration ender paragraph 18 hereof or abandonment of the Property, Lender shall be entitled to have a recxiver appointed by a
~ court to enterapon, take possession of and manage the Property and to collect the Hats of the Property, incladiag Wore past due. AU Hats
collected by the receiver shall be applied first to payment of the costs of management of the Property and collection of rents, including, bat not
limited to, receiver's fees, premiums on receiver's bonds and reasonable attorney's fees, and then to the soma seevs+ed by thin Mortgage. The
receiver shall be liable to account only for those rents actually received.
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