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8. lnepection. l.ender may muke or cauae to be made reaaonable ent~ea upon and inepertiune of the properiy, provided that I.ender ehull
Kive l3orrower notice prio~ to a~y such inspection epecifying reasonable cauee therefor related to l~ende~ a i~tereat in lhe Properiy.
9. Co~demnation. 'IT~e procceds of any award or claim for damagea, direct or coneeyuential, in connectio~ with any oondemnation or
~~ther taking of the property, or part thereot, or for conveyance in lieu of rnndemnatian, are hereby aeeigned and ahall be pnid to l.ender.
In the event of a total taki~g of the Property, the proceeda shaU !,e applied to the euma eecured by thie Mortgage, with the exceas, if aoy,
paid to Borrower. In the event of a partial taking of the Property, unless Borrower and l.ender otherwise aRree in writing, there Bhall be
:+pplied to the suma secured by this Mortgage auch proportiu~ of the proceede as ia equal to that proportion which the amount o! the suma
strured by this Mortgage immediately prior to the date of takinR bears to the fair market value of the E'roperty immediately prior to the date of
t.iking, with ihe balanca ot the procecde paid to Iiorrower.
If the Property is abandoned by Borrower, or if, aRer notice by l.ender to E3orrower that the condemnor offera to make an award or eettle a
ciuim for damages, Iiorc~ower faila to respond ta l.ender within 30 days after the date such notice ie mailed, l.eader is authorized tocoUect and
:~pply the pn~ceeds, at I.ender a option, either to reetoratiun or repair of the pmperty or to the suma aecu~e~i by this Mortgage.
Unleae I.ender ~+nd Borrower otherwise agree in writing, any such applicatiun of proceeds to principal ahall not extend or poatpone the due
c1:~te of the monthly inatc-llmente referred to in paragraphs 1 and 2 hereof or change the amount of such installmenta.
l0. Borrower Not Released. Extenaion of the time for paym=nt or modification of amortization of the sums secured by this Mortgage
~;ranted by [.ender to any suc~rs::or in intereat of BorwN er shnll not opernte to relexse, in any manner, the linbility oC the original BorroK•er
,~nd t3orruwer's successora in interest. I.ender shnll not be required to commence proceeciings aK~inst such succexsor or refuse to extend time
f~ ~r paymcnt or othenaise m~+dify amurlixation of the sums srcund by this ilortKaKc by re:~~~n of nny demand made hy theoriKinul Rorrower
,~nd I~~rn~wer's succekw~rs in i~terest.
11. Forbearance by Lender Not a Waiver. Any forbearance by l.ender in exercieing uny right ur remrdy hereunder, ot otherwise
:~ffurded by applicable law, shal) not be a waiver of or preclude the exerciae of xny such right or remedy.l'he pmcurement of insurance or the
E~:iyment of taxes or other liena or chargea by l.ender ahnll not be a waiver of I.ender a righi to acceterate the maturity of the indebtednesa
~~ti•ured by thia Mortgage.
12 Hemediea Cumulative. All rnmedies provided in this Mortgage am diatinct and cumulative to any other right or remedy under this
~~~~rtc•age or afforded by lars or equity, and may be exerciscKi concurrently, independently or aucceasively_
l:t. Succesaore and Asaigns Iiound; Joint and Several Liability; Captione. The covenants and aMreements herein contained ahall
}~~nd, and the righta hereunder shall inure to, the respective succeesors and assigna of l.ender and Bormwer, subject to the provieiuna of
F~:i r:-Kraph 17 hermf. All covenants and aRreements of Borrower ahail be joint and several. The captions and headings of the paragrapha of
th~5 1lortgage ~re for covenience only and are nut to be used to interpret or define the pmvisions here~~f.
14. \otice. F.xcept for an~~ notice required under npplicable law to be Kivi•n in :inother munne~r,1~1 an~ nutice tu Korr~~we~ pruvided forin
t h~. ~fortK~ge shall be given by mniling such notice by certified mnil addreased to Bormwer at the Yroperty Addresaurat such other address as
it~~rrow•er may designate by nutice to I.ender as provided herein, nnd (61 uny notice to I.ender ahall be given by certified maii, return receipt
r~~~ uested, tc, I.ender's <iddress stated herein or to such other address as I.ender may desiqnate by nutice to Horrower as provided herein. Any
rn ~tice provided fur in this DturtguKe shall be deemed to have heen given to t3orrower or I,ender when given in the manner designated herein.
15. L'niform Mortgage; Governing l.aw: Severability. 7'his form of mortKagr combines uniform cuvenanla for natiunal use and non-
w~ifurr.~ rnvenunts v-~th limited variations by jurise~iction to rnnstitute a uniform security instrument rnvering real properiy. This Morlgage
,h.~ll he Ku~•erned by the law of the jurisdiction in which the I'n~perty is located. In the event that any proviFion orclause n[this Mortgage or
tht• tiute conilicts w~th applicable law, such conflict shall not affect other proviaions of this ~tortk:~ge or the 1\ote Mhich can be given effect
•.. ithout the rnnflicting pro~•ision, and to this end the provisions of the MortRaKe and the Note are declAred to he severable.
16. Bflrrower's Copy. Rorrower ahall be [urnished a conformed copy of the Note and of thia MortgaKe at the time olexecution or after
r~•~~urd:~tion hereof.
17, Tranafer of the Property; Assumption. If all or any part of the f'roperly ur an interest therein is sold or transterred by F3orrower
~~~thout l.ender's prior written consent, excluding (ai the creation of a lien nr encumbrance sutwrdinate to this Mortgage, (b) the ereation of a
~ {~urc!~ase money security interest for household Appliances, lc1 a transfer by devise, d~xcent or by operation of law upon the death of a joint
` t~•naint or ldl thP grant of any leasehold interest of three years or lesx not containing an option to purchase, I.ender may, at I.ender'a aption,
=- ~i~~•lam all the sums secured by this Mort~age to be immediately due and payahle. I.ender shall have waived such option to accelerate if, prior
> t• ~ the sale or tranafer, I.ender and the person to w hom the Property is to t~e sold or trunsferreci reach agreement in writinK that the credit of such
~~ ~~~•rsun is satisfactory to I.ender 1nd that the interest payable on the sums securc~l hy this ~1ort~;a~e shaU be ~t such rate as I.ender shall
` n.~ue~st. If Ixnder has aai~~c~f the optiun to accelerat~~ pru~•ided in this paraKr:iph l7, and if ti~~rruwer'g succes;tior in interext has executed u
. ~.. riurn :issumption aKree•ment accepted in v-ritinK by I.ender, Ixnder shall release Rorrower frum all ubliKatiuns under this Mort~age and the
\~~tr.
I f I.endrr exercises such option to acceterate, l.ender shall mail }3ornrn er notice of acceleration in acrnrdance with paragraph 14 hereoL
~~~~h notic~e shall pr~~~•ide a perirKl of nul Ic~s than:illda>~s from thedaLe the nutice is mailcd within which Born,wer meiy pavthesumsdeclared
~iu«•. If Borrower tails tu pay such sumc prior to the ex~riratiun oCsuch periocl, IxndE•r may, without further notice or demand on 13orrower,
in~•okeany remedies permitteci by paraKraoh lft hereof.
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18. Acceleration; Remediea. Except as provided in paraqraph 17 hereot. upon Borrower's breech of any covenant or
aKreement of Borrower in this Mortgage. including the covenante to pay w hen due any sums secured by this Mortgage. Lender
prior to acceleration ahall mail notice to I3orrower es provided in paragraph 14 hereofapecifyinq:ll)thebreach;l2)theaMion
rc~yuired to cure such breach;l3) a date. not less than 30 dayA from the date the notice ie mailed to I3orrower, by which such
breach muat be cured: and 141 that tailure to cure such breach on or before the date epecified in the notice may result in
~+cceleration of the suma secured by this Mortgage. forecloaure by judicial proceeding and saleof the Property.The notice ahaU
further intorm E3orrower otlhe right to reinAtate aRer acceleration and the right to aesert in the foreclosure proceeding the
nun-existence of e default or any other defense of Borrower to acceleration and forecloaure. If the breach ia not cured on or
tx•fore the date specified in lhe notice. I.ender at I.ender's option may declare all of the suma aecured by this Mortgage to be
i mmediately due and p~yable without furtherdemand and may foreclose this Mortgage by judicial procc:eding. I.ender ahall tx
~•nt itled to collect in such proceedinq all expenses of foreclosure. including. but not limited to. reac~onable attorney's teea. and
~~osts of documentary evidence. abstracls and titlr rnp~rts.
l9. I3orrower's Right to Reinstate. Notwithat~~ndinK [.ender's acceleration of the sums eecured by this Mortgage, Borrower shall have
the right to have anv proceedings beQun by I.ender to enfurce this MortKage discontinued at any time prior to entry of a judgment enforcinK
thia Murtgage if: la) E3ormwer pays l.ender all sums which would be then due under this Mortgage, the Note and notes securinK Future
:ldvancea, if any, had no acceleration occurred; ~ b- &-rruwer cures <ill breaches of any other covenante or agreemente of Borrower contained in
this MortgaRe; tcl liorrower pays all reasonable expenses incurred by I.ender in enforcing the covenanta and agreements of E3orrower
cuntained in this Mortqage and in enforcing I.ender's remedies as provided in para~raph lA hereot, including, but not limited to, reasonable
:~ttorney's fees; and ~d1 i3orrower takes such action as I.ender may reasonably require to assure that lhe lien of this Mortgaqe, l.ender'a interest
in the Property and Kormwer's obliKation to pay the sums secured by this Mort~aqe ahaU continue unimpaired. Upon such payment and curn
t,~• F3orrower, thie Mortgage and the obligationa secured hereby shall remain in full force and effect as if no acceleration had occurred.
20. Assignment of Rente; Appointment of Receiver. As additional security hemunder, Borrower hereby aesigna to l.ender the tents
~~f the Property, provided that i3orrower shall, prior to acceleration under paragraph 18 hereof or abandonment of the Property, have theright
t~~ collect and retain such rent8 as they become due and payable.
Upon acceleration under paragraph 18 hereof or abandonment of the Property, I.ender ahall be entitled to have a receiver appointed by a
a~urt to enter upc-n, take possession of and manage the Property and to rnllect the rents of the Property, including those past due. All renta
rnllected by the receiver shall be applied firat to payment of the coats of management of the Property and rnllection of rente, including, but not
limited to, receiver e fees, premiuma on receiver's bonds and reasonable attorney'a fees, and then to the eums aecured by thie Mortgage. The
receiver ahall be liable fo account only for those renta aMually received.
8~ ~45 P~E `70
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