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8. Inspection. !.ender may make or cause to be made reasonable entries upon and inspertiune 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
„ther taking of the property, or par/ thereof, or for conveyance in lieu of cc?ndemnatic?n, are hereby assigned and shall be paid to !.ender.
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,
p:+id to Borrower. In the event of u partial taking of the Property, unless Borrower and !.ender otherwise agree in writing, there shall be
applied to the sums secured by this Mortgage such proportion of the proceeds sa ie equal to that proportion which the amount of the sums
::c•c ured by this Mortgage immediately prior to the date of taking bears to the fair market value of the Property immediately prior to thedate of
taking, with the balancY of the proceeds paid to Borrower.
If the Property is abandoned L•y Borrower, or if, after notice by !.ender to Borrower that the rnndemnor offers to make an award or settle a
~•1:?im for damages, Borrower fails to realwnd to Lender within 30 days after the date such notice is mailed, !.ender is authorized to collect and
apply the proceeds, at Lender's option, either to restoration or rcpt+ir of the property or to the sums secured by this Mortgage.
Unless !.ender and Borrower o±herwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due
<iute of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments.
10. Borrower Not Released. Esxtension of the time for paym=nt or modification of amortization of the sums secured by this Mortgage
t;r:+nted by !.ender to any successor in interest of Borrower shall not operate to release, in any manner, the liahility of theoriginal Borrower
nd Borrower's successors in interest. Lender shall not be required to cr?mmence proceedings against such successor or refuse to extend time
fi,r payment or otherwise modify amortization of thr sums second by this Mortgage by re:+son of any demand made by theoriginal Borrower
:rrtcl Borrower s sucnswrtt in interest.
11. Forbearance by Lender Not a Waiver. Any forbearance by !.ender in exercising any right or remedy hereunder, or 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 or the
t,:+yment of taxes or other liens or charges by Lender shall not be a waiver of !.ender a right to accelerate the maturity of the indebtedness
st•cured by this Mortgage. `
12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this
tilurtrage or afforded by law or equity, and may be exercised concurrently, independently or successively.
1:3. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein contained shall
t,ind, and the rights hereunder shall inure to, the respective auccesaors and assigns of (.ender and Borrower, subject to the provisions of
~r.+tt+graph 17 hereof. All covenants and agreement8 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.
14. Notice. Except for any notice required under applicable law to be given in another manner, (al any notice to lic?rrower provided forin
this Mortgage shall begiven by mailing such notice by certified mail addressed to Borrower at the Property Addressor at such other address as
ti„rrc?wer may designate by notice to Lender as provided herein, and Ih) any notice to Lender shall be given by certified mail, return receipt
crtuested, to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any
ri„tice provided for in this Mortgage shall be deemed to have been given to Burrower or !.ender when given in the manner designated herein.
15. Uniform Mortgage; Governing l.aw; Severability. This form of mortgage comhines uniform rnvenants for national useand non-
uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. This Mortgage
:h:+11 be governed by the law of the jurisdiMiun in which the Property is located. In the event that any proviQion or clause of this Mortgage or
r he Note conflicts with applicable law, such rnnflict shall not affect other provisions of this Mortgage or the Note which can be given effect
•r:;,hout 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 copy of the Note and of this Mortgage at the time of execution or after
,.•cordation hereof.
17. Transfer otthe Property; Assumption. If all or any part c?f the Property or an interest therein is sold or transferred by Borrower
s , ~c,thout :.ender s prior written consent, excluding la1 the creation oCa lien or encumbrance subordinate to this Mortgage, lb) the creation of a
~ G,un•hase money security interest for household appliances, Ic? a transfer by devise, docent or by operation of law upon the death of a joint
_ tenant or (d1 the grant of any leasehold interest of three years or less not containing an option to purchase, Lender may, at Lender's option,
~ % - *it•clare all the sums secured by this Mortgage to be immediately due and payable. Lender shall have waived such option to accelerate if, prior
~ _ /t., t he sale or transfer, !.ender and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such
' person is satisfactory to Ixnder and that the interest payahle on the sums secured by this Mortgage shall be at such rate as lxnder shall
r~•,tuc•st_ If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower s successor in interest has executed a
ritten <+ssumption agreement accepted in writing by Lender, Lendershall release Borrowerfn?m all obligations under this Mortgageand the
n[e.
j I f Lender exercises such option to accelerate, !.ender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof.
`+uch notice shall provide a period of not less than :I(1 days from thedate the noticr is rr ailed within which Burrower may pay thesums declared
~ ,lue. If Burrower fails to puy such sums prior to the expiration of suci+ peric?d, Lender may, without further notice or demand on Borrower,
~ ,m•oke any remedies permitted by paragraph IK hereof.
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 sums set.-ured by this Mortgage, Lender
prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereofspecifying: (1) the breach;l2)the action
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
t~reach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice may result in
t+c•celeration of the 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
4 non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the breach is not cured on or
tx•fore 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 turtherdemand and may foreclose this Mortgage by judicial proceeding. !.ender shall be
entitled to collect in such proceeding all expenses of foreclosure. including, but not limited to, reasonable attorney's fees, and
c•usts of documentary evidence. abstracts and title reports.
1 19. Borrower's Right to Reinstate. Notwithstanding Lendei s acceleration of the sums 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: (a) Borrower pays Lender all sums which would be then due under this Mortgage, the Note and notes securing Future
~tdvancea, if any, had no acceleration occurred; (b) Borrowercures all breaches of any other covenants or agreements of Borrowercontained in
this Mortgage; (c) Borrower pays all reasonable expenses incurred by [.ender 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 Id) Borrower takes such action as !.ender may reasonably require to assure that the lien of this Mortgage, [.endei a interest
in the Property and Borrower's obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upon such pa3~rnent and cure
by Borrower, this 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 Lender the rents
~,f the Property, provided that Borrower shall, prior to acceleration under paragraph lA hereof or abandonment of the Property, have the right
e to collect and retain such rents as they become due and payable.
Upon acceleration under paragraph 18 hereof or abandonment of the Property, !.ender shall be entitled to have a receiver appointed by a
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
cc?llerted by the receiver shall be applied first W payment of the costa of management of the Property and collection of rents, including, but not
limited to, receiver's fees, premiums on receiver a bonds and reasonable attorney's fees, and then to the soma secured by this Mortgage. The
receiver shall be liable to account only for those rents aMually received.
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