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8. Inspection. Lender may make or cause to be made reasonable entries upon cad irupectioru of the property, provided that Lender shall
give Borrower notice prior to arty such inspection specifying reasonable cause therefor related to Lrnds's interest in the Property.
9. Condemns?tion.'Ibe proceeds of any award or claim for damageati direct or consequential, in connection with any condemnation or
other taking of the ProP~Y. a< P~ • or for conveyance in lien of condemnation. are hereby aaigaed and shall be paid to Leader.
Ia the event of a total taking of the Property. the proceeaL shall be applied to the same secured by this Mortgage, with the ezoess, if any.
paid to Borrower. In the event ~ a partial taking of the Property. ndess Boremirs and Lender otherwise agree is writing, there shall be
applied to the sums scented by this Mortgage such proportion of the proceeds as is equal to that proportion which We amount of the soma
scanted by this Mortgage immediately Prior to the date of taking bears to the fair market value of the Property immediately prior to the date of
taking. with the balanoa of the prposeds Paid to Borrower.
If the Property is abandoned by Borrower. or i~ aRer notice by Lender to Borrower that the condemnor offers to make an award or settle a
claim for damages, Harrower fails b respond to Lender within 30 days after the date arch notice is mailed, Lender is authorized to collect and
apply ~ Proms. at Lenders option, either to restoration oar repair of the property oar to the sums secured by this Mortgage.
Unless I.er~ds and Borrower otherwise agree in writing. any such application of proceeds to prinaxpal shall not extend or postpone the due
date of the monthljr installments referred b in paragraphs 1 and 2 bereof or change the amount of such installments.
iQ Borrower Not Released. Extension of the time for payment err modification of amortization of the sums secured by this Mortgage
granted by Lender to any aucoeesor 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 such sua.~aeor or refuse to extend time
for payment or oWerwiae modify amortization of the auras secured by this Mortgage by reason of any demand made by the original Borrower
and Borrower
s euocessors in interest.
11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exeraasing any right or remedy hereunder. or otherwise
afforded by applicable law, shall not be a waiver of or preclude the e:eradse of any such right or remedy. The procnremrnt of insurance or the f
payment of fazes oar other urns or charges by Lender shall not be a waiver of Lrnders right to accelerate the maturity of the indebtedness ~
secured by this Mortgage. ~
12 Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy ands this
Mortgage oar afforded by law or equity. and may be exercised ooncnrrently, indeprndrntly or suaxxasively.
13 Snocessors sad Assigns Bound; Joist and Several Liability; Captions The oovenanta and agreements herein contained shall
bind, and the rights hereands shall inure to, the_respective succeaeora and assigns of Lends and Borrows, subject to the pmvieions of
paragraph 17 hereof. All oovrnants and agreements of Borrower shall be joint and several. The captions and headings of the paragraphs of
this Mortgage are fm covenience only and are not to be used to interpret of define the provisions hereof.
14. Notice. Except far any notice required under applicable law to be given in another manna, (a) any notice to Borrower provided for in
thin Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at the Property Address or at such other address as
Borrows may designate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by certified mail. return receipt #
requested, to Lender
s address stated herein or to such other s'ddreas as Lends may designate by notice to Borrower as provided herein. Any
notice provided for in this Mortgage shall be deemed to have been given to Borrows or Lends when given in the manna designated herein. ~
15. Uniform Mortgage; Governing Law; Severability. This form of mortgage combines uniform covenants for national nee and non-
uniform oovenanta with limited variations by jurisdiction to oonatitute a uniform security instrument covering real property. This 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, such conflict shall not affect other provisions 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.
1& Borrower's Copy. Borrows shall be furnished a conformed copy of the Note and of thin Mortgage at the time of ezecntion or after
recordation hereof.
1T. Transfer of the Property; Assumption. if all or any part of the Property or an interest therein is sold or transferred by Borrows
withoat Lender's prior written coraaerat, excluding (a) We creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a
pnrr~hase money secarity interest for household appliances, (c) a transfer by devise, descent or by operation of law upon the death of a joint
'f tenant or (d) the grant of any leasehold interest of three years or less not wntaining an option to purchase. Lends may, at Lender's option,
declare all the name secured by this Mortgage to be immediately due and payable. Lends shall have waived such option to accelerate if, prior
to the sale or transfer, Deader and We person to whom the Property iB to be sold or transferred reach agreement in writing that the credit of such
person is satis[actory to Lender and that the interest payable on the soma secured by this Mortgage shall be at such rate as Lender shall
request. If Lends has waived the option to aaxelsate provided in this paragraph 19, and if Borrower
a successor in interest has executed a
writtrn assumption agreement accepted in writing by Lender, Lender shall release Borrows from all obligations under this Mortgage and the
Note:
If Lends exercises such option to accelerate, Lender shall mail Borrower notice of aeoeleration in accordance with paragraph 14 hereoL
i Such notice shall provide a period of not lean than 30 days from the date the notice is arsiled within which Borrower may pay the sa.aas declared
due. If Borrows fails to pay such sums prior to the expiration of such period, Lender may, without Earths notice or demand on Borrows,
invoke any remedies permitted by paragraph 18 hereof.
~ 18. Acceleration; Remedies Except as provided in paragraph 1? 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. Lender
j prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action
required to care such breach; (3) a date, not less than 30 days from the date the notice is mailed to Borrower, by which such
breach must be and (4) that failure to care such breach on or before the date specified in the notice may result in
acceleration of the sums secured by this Mortgage, foreclosure by judicial proceaeling and sale of the Property. The notice shall
further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the
non-ezistence of a default or any other defense of Borrower to acceleration and torecloreure. If the breach is not cured on or
before the date specified in the notice, Lender at Lender's option may declare all of the sums secured by this Mortgage to be
immediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. Lender shall be
s entitled to collect in such proceeding all ezpenses of foreclosure, including, but not limited to, reasonable attorney's fees, and
coats of documentary evidence, abstracts and title reports.
19. Borrower's Right to Reinstate. Notwithstanding Lender
a acceleration of the soma secured by this Mortgage, Borrower shall have
the right to have any proceedings begun by Lends to enforce this Mortgage discontinued at any time prior to entry of a judgment enforcing
this Mortgage if: (a) Borrows pays Lends all sums which world be then due under this Mortgage, the Note and notes scenting Future
Advances, if any, had no acceleration occurred; (b) Borrows sues all breaches of any other covenants or agreements of Borrows contained in
~ this Mortgage; (c) Borrows pay8 all reasonable experasea incurred by Lender in enforcing We covenants and agreements of Borrows
t contained in this Mortgage and in enforcing Lends's remedies ae provided in paragraph 18 hereof, including, but not limited to, reasonable
attorney's fees; and (d) Borrows takes such action as Lrnds may reasonably require to assure that the lien of this Mortgage. Lrnda's interest
in the Propsty and Borrower
a obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upon such payment and care
by Borrows, this Mortgage and the obligations secured hereby shall remain in frill force and effect as if no acceleration had occurred.
20. Assignment of Rentr, Appointment of Receiver. As additional security hereands, Borrows hereby assigns to Lends the rrnta
of the Propsty, provided that Borrower shall, prior to aocelsation under paragraph 18 hereof or abandonment of the Property, have the right
to collect and retain sack rents as they become due and payable.
f Upon aocekration rends paragraph 18 hereof oar abandonment of the Property, Lends shall be entitled to have a receives appointed by a
oomt to rnts~npoa, take possession of and manage the Property and to Dolled the rents of the Property, including those peat doe. All rents
collected by the receiver shall be applied foal to payment of the costs of management of the Property and collection of rents, including, but not
limited to, receivs'a tees„ premiums on reoavera bonds and reasonable attorney's fees, and then to the sums aerated by this Mortgage. The
receive shall be liable to account only for those rents actually received.
~~~K315 P~~E1506