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t3. Inspection. Lender may make or cause to be made reasonable entries upon and inepectione of the property, provided that [.ender shall
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9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or
ether taking of the property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender.
In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any,
paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender otherwise agree in writing, there shall be
applied to the sums secured by this Mortgage such proportion of the proceeds as is equal to that proportion which the amount of the sums
.crured 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 balanca of the proceeds paid to Borrower.
I f the Property is abandoned by Botrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a
I:+im for damages, Borrower fails to respond to Lender within 30 days after the date such notice is mailed, Lender is authorized to collect and
apply the proceeds, at Lender's option, either to restoration or repair of the property or to the sums secured by this Mortgage.
Unless [,ender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due
date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of ouch installments.
10. Borrower Not Released. F.xtenaion of the time for paym=nt or modification of amortization of the sums secured by this Mortgage
~;r:+nted by (,ender to any successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower
and Borrowei s successors in interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time
f~~r payment orotherwise modify amortization of the sums secured by this Mortgage by mason of any demand made by theoriginal Borrower
.uu1 Borrower s successors in interest.
I1. I•orbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise
+fforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the
~••.±Pnt of taxes or nehPr hnre4 or rharnPx by I ~:nder shall not be a waiver of Lender's rirtht to accelerate the maturity of the indebtedness
~ecut•ed by this Mortgage.
12 Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this
~iorte•age or afforded by law or equity, and may be exercised concurrently, independently or successively.
13. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein contained shall
t~in.l• and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower, subject to the provisions of
l~:+r:+graph 17 hereof. All covenants and agreements of Borrower shall be joint and several. The captions and headings of the paragraphs of
this Mortgage are for covenience only and are not to be used to interpret or define the provisions hereof.
1-3. Notice. Except for any notice required under applicable I:+w to be given in another manner, lal any notice to Borrower provided forin
t hi, Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at the Property Address or at such other address as
f S~~rrower may designate by notice to [.ender as provided herein, and Ib) any notice to Lender shall be given by certified mail, return receipt
r~~t nested, to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any
ri.,t it•e provided forin this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
1 i. Uniform Mortgage; Governing Law; Severabili~y. This formof mortgagecombinesuniformcovenants for national useand non-
iiform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property .This Mortgage
<hall 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
t hc• \ote conflicts with applicable law, such conflict shalt not affect other provisions of this Mortgage or the Note which can be given effect
~ti ithout the n+nflicting provision, and to this end the provisions of the Mortgage and the Note are declared to be severable.
1 fi. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of execution or after
rt•cordation hereof.
17. Transfer of the Property; Assumption. If all or any part of the Property or an interest therein is sold or transferred by Borrower
«•it bout (.ender
s prior written consent, excluding Ia1 the creation of a lien or encumbrance subordinate to this Mortgage, Ib) the creation of a
~~urchase money scr utity interest for household appliances, Ic) a transfer by devise, docent or by operation of law upon the death of a joint
t~•nant or (d? the grant of any leasehold interest of three years or less not containing an option to purchase, [.ender may, at bender's option,
?c•c•I:+re all the sums secured by this Mortgage to be immediately due and payable- Lender shah have waived such option to accelerate if, prior
t ~ ~ t he sa_ le or transfer, Lender and the person to whom the Property is to be sold or transferred reach agreement in writing that thecredit of such
~~rr.un is satisfacG+n• to [.ender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender shall
r~y~uc•st. If Ixnder has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has executed a
•..rittenassumptionagreementacceptedinwritingbylxnder•LendershallreleaseBorrowerfromallobligationsunderthisAlortgageandthe
nte.
~ If Lender exercises such option to acc•eler+tr. [.ender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof.
I much notice shall provide a period of not less than a0days from thedatethe notice is trailed within which Borrower may pay the sums declared
slur. If Borrower fails to pay such sums prior b+ the expiration of such period. Lender may, without further notice or demand on llorrower,
~n~•oke any remedies permittt•d by par.+graoh I?{ hereof.
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18. Acceleration; Remedies. Except as provided in paragraph 17 hereof. upon Borrower's breach of any covenant or
:+greement of Borrower in this Mortgage. including the covenants to pay when due any sumssecured by this Mortgage, Lender
3 l+rior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereofspecifying:(1?the breach; ('l)theaction
i required to cure 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 cured; and (4) that failure to cure such breach on or before the date specified in the notice may result in
acc•elerationofthesumasecuredbythisMortgage.foreclosurebyjudicialproceedingandsaleoftheProperty.Thenoticeshall
# further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the
non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the breach is not cured on or
~ I++•fore the date specified in the notice. Lender at [.ender's option may declare all of the sums secured by this Mortgage to be
a i mmerdiately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. Lender shall be
~•nt itled to collect in such proceeding all expenses cif foreclosure. including, but not limited to. reasonable attorney's fees. and
l costs of documentary evidence, abstracts and title reports.
~ 19. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of thesums secured by this Mortgage, Borrowershall have _
the right to have any proceedings begun by lender to enforce this Mortgage discontinued at any time prior to entry of a judgment enforcing
this Mortgage if: la) Borrower pays Lender all sums which would be then due under this Mortgage, the Note and notes securing Future
:advances, if any, had no acceleration occurred; (b) Borrower cures all breaches of any othercovenants or agreements of Borrower contained in
this Mortgage; Ic) Borrower pays all reasonable expenses 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
- <t ttorney's fees; and Id+ Borrower takes such action as Lender may reasonably require to assure that the lien of this Mortgage, Lender's interest
i n the Property and Borrower's obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upon such payment and cure
by Borrower, thin Mortgage and the obligations secured hereby shall remain in full force and effect as if no acceleration had occurred.
`L0. Assignment of Rents; Appointment of
Receiver. As additional security hereunder, Borrower hereby assigns to bender the rents
~.f the Property, provided that Borrower shall, prior to acceleration under paragraph 18 hereof or abandonment of the Property, have the right
a. collerct and retain such rents as they become due and payable.
Upon acceleration under paragraph 1 A hereof or abandonment of the Property, Lender shall be entitled to have a receiver appointed by a
court to enter u n, take saession of and mans a the Pro rty and to collect the rents of the Pro rt includin those ast due. All rents
Po Po K Pe Pe Y. g P
collected by the receiver shall be applied first to payment of the costs of management of the Property andcollection of rents, including, but not
limited to, receiver's fees, premiums on receiver's bonds and reasonable attorney's fees, and then to the sums secured by this Mortgage. The
rec•eiver shall be liable to account only for those rents actually received.
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