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8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the property, provided that Lender shall
Kive Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property.
9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or
other 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
secured by this Mortgage immediately prior to the date of taking bears to the fair market value of the Property immediately prior to thedate of
t:+kinq, with the balanca of the proceeds paid to Borrower.
If the Property is abandoned by Borrower, or if, after notice by (.ender to Borrower that the condemnor offers to make an award or settle a
claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is mailed, Lender is authorized to collect and
<+pply 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 thedue
date of the monthly installments referred to in paragraphs 1 and 2 hereof ur change the amount of such installments.
l0. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured by this Mortgage
Resoled by (.ender to any successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower
;end 13urrower's successors in interest. !.ender shall not be required to commence proceedings against such successor or refuse to extend time
f~~r payment ur otherwise modify amortization of the sums sc•c•urc•cl by this titortgage by reason of any demand made by theoriginal Borrower
and Borrower's successors in interest.
l 1: Forbearance by Lender Not a Waiver. Accy forbearance by Lender in exercising any right or remedy hereunder, or otherwise
.cffurded 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
t~:+yment of taxes or other liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness
:scored by this Mortgage.
12. Remedies Cumulative. All remedies pm~~ded in this Mortgage are distinct and cume:lative to any other right or remedy under this
1lrrrtrage or afforded by law or equity, and may be exercised concurrently, independently ur successively.
1:3. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein contained shall
hind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower, subject to the provisions of
~•;ara+graph I7 hP,•.•.,f All rnvenants and agreementx of Borrower shall be joint and several.'Che captions and headings of the paragraphs of
t}ris titortgage are for covenience only and are nut to be used to interpret or define the pro~~sions hereof.
1 •t. Notice. Except fi,r ant, notice required under applicable law to Ix given in anoth_ r manner, Ia1 any notice to Burrower provided for in
c his Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at the Property Address or at such other address as '
i~urrower may designate by notice to Lender as provided herein, and Ib) any notice to Lends: shall be given by certified mail, return receipt
rr•ct nested, to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein- Any
n. Mice provided for in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
15. lJnitorm Mortgage; Governing Lava; Severability. This form of mortgagecumbinesuniform covcnantsfor national useandnon-
unifurm covenants with limited variations by jurisdiction to a,nstitute a uniform security instrument covering real property-This titortgage
:h:+11 be governed by the law of the jurisdiction in which the I'ropcrty is located. In the event that any provision or clause of this Mortgage or
+in• tints con(lic•ts with applicable law. such conflict shall not affect ether provisions of this Mortgage ur the Nute which can be given effrrc
ithuut the conflicting provision, and to this end the provisions of the titortgage and the Note are declared to be severable.
l6. Borrower's Copy. Burrower shall be furnishzc3 a conformed rnpy of the Note and of this Mortgage at the time of execution or after
n•curdation 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
~cithout Lender':- prior written consent, excluding lal the creation of a lien or encumbrance subordinate to this titortgage, {b! the creation of a
t~urchase money security Interest for household appliances, Ic) a transfe- by devise, docent or by operation of law upon the death of a joint
ten:.nt or Id1 the grant of any leasehold interest of three years or less not containing an option to purchase, Lender may, at Lender's option,
a . _ u _ w~_~.-_•° ..a:.. a.. ...7 ..tic., r ,....1., o~..,ll „~,i ~ ..t, .,..t..,n fl...blo.~?o;f
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~ t ~ ~ the sale or transfer, Lender and the person W whom the Property is to be sold or transferred reach agreement in writing that the credit of such
}!~•r.un is satisfactory to (.ender and that the interest payable on the sums secured by this Mortgage shall be at such rate as (.ender shall
f ~.•yuest. If Lender has waived the option to accelerate provided in this parxRraph 17, and if Borrower's successor in interest has executed a
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ritten assumption agreement accepted in writinK by Lender. Lc•ndershallrelease Borrower from all obligations underthis Mortgage and the
'~~•te.
~ I f Lender exercises such option to acceh•rute, Lender shall mail Burrower notice of acceleration in accordance with paragraph 14 hereof
such notice shall provide a period of not less than :q?days from the date the notice is mailed within which Born,wermay pav thesums declared
~iuc•. If Burrower fails to pay such sums prior to the expiration of such peri~,d, bender may, without further notice ur demand on borrower,
;nooks any remedies permitted by parak~raoh 1'+ ht•rcr,f.
~ 1 t3. Acceleration; Remedies. Except 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 sumsserured by this Mortgage, Lender
E t,rior 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;131 a date, not less than 30 days from the date the notice is mailed to Borrower, by which such
t,re•ach must be cured; and (4? that failure to cure such breach on or before the date specified in the notice may result in
:+c•c•e•leration ofthe sums secured by this Mortgage. foreclosure by judicial proceeding 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
nun-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the breach is not cured on or
V,r•fore the date specified in the notice, Lender at Lender's option may declare all of the sums secured by this Mortgage to be
i mmc~diately 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 expenses of foreclosure, including, but not limited to. reasonable attorney's fees, and
rusts of documentan• evidence. abstracts and title reports.
~ 19. Borrower's Night to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this titortgage, Borrower shall have
the right to have any proceedings begun by Lender to enforce this titortgage 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 titortgage, the Note and notes securing Future
Advances, if any, had no acceleration occurred; Ib) Burrower cures all breaches of any other covenants or agreements of Borrower contained in
this titortgage; 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 IShereof, including, but not limited to, reasonable
~ attorney's fees; and ld 1 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
in• Borrower, this Mortgage and the obligations secured hereby shall remain in full force and effect as if no acceleration had occurred.
`L(). Assignment of Rents; Appointment of Receiver. As additiun:cl security hereunder, Borrower hereby assigns to Lenderthe rents
~.f the Property, provided that Borrower shall, prior to acceleration under paragraph 1 S hereof or abandonment of the Property, have the right
to collect and retain such rents as they become due and payable.
Upon acceleration under paragraph 1R hereof or abandonment of the Property, Lender shall be entitled to have a receiver appointed by a
w court to enter.upon, take possession of and manage the Property and to collect the rents of the Property, including those past due. All rents
~ c•nllected by the receiver shall be applied first to payment of the costs of management of the Property and collection 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
~ receiver shall be liable to account only fur those rents actually received.
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