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8. Inspection. l.e~der may make or cauee to be made reaeonable entriea upon und inepectians of the property, pruvided that l.ender ehall
Kive Hor~ower notice prior to any auch inapection epecifying reae~onable cause lherefo~ related to I.ender'e intereat in lhe Property.
9. Condemnation. The procc~eda of any award or claim for damagee, direct or coneequential, in connection with any condemnation o~
other taking of the property, or part thereot, or for conveyance in lieu ot condemnatiuo, are he~eby ueaigned and ehall be paid to l.ender.
In the event of a total taki~g ot the Property, Ihe proceeda shall be applied to the aums aecured by thie Murtgage, with the excese, i[any,
pi~id to Horrower. In the event of a partial taking of the Property, unlesa Borrower and l.ender otherwise agree in writing, there ehall be
:~pplicd to the suma secured by this Mortgage euch proportion of the proceeda aa is equal to that proportion which the amount of the auma
wecured by thia Mortgage immediately prior to the date of taking beare to the fair market value of the Property immediately prior to the date ot
taking, witt~ the balanca of the proceeda paid to E3orrowe~.
!f the f'roperty ie abandoned by Borrower, or if, afte~ notice by I.ender to ~rrowe~ that the condemnor offers to mt+ke an award or eetQe a
claim for damagee, E3orrower taila to reepond to I.ender within 30 daye aRer the date such notice ie mailed, I.ender ie authorized to collect and
;-pply the proceeds, at Lendei s option, either to reatoration or repair of the pmperty or to the eume secured by thie Mortgage.
Unleas I.ender and E3orrower otherv-~se aRrre in writing, any auch ap~licAtiun otproceede to principal ehall not extend or poetpone the due
d~te of the monthly installmenta referred to in paragraphe l and 2 hereof or change the amount of auch inetallme~te.
10. Eiorrower Not Released. F.xtension of the time for paymant or modification otAmurtization of lhe aums xcrured by thie Mortgage
Kranted by I.ender to any succexsor in inlemat of f3orruwer shall not operate to release, in uny manner, the liability of the otiginal I3orrower
:~nd I3orrower's successors in intereat. t.ender shnll not be required to commenc~ prorredings againat such successor or refuae to extend time
t~~r pnyment or otherwise modify :+morlizatiun of the sums securcd by this MortKuke by reuxim of any demnnd mude by thcoriginal Borrower
:~nd 13orrowers succ~w,rx in intere~t.
1 I. Forbearance by I.ender Not a Waiver. Any forbearance by l.ender in exemieing any right or remcdy hernunder, or otherwiae
:ifforded by applicable law, shall not be a wuiver of or preclude the exerciae of any auch right or remedy. The procurement oCinaurance or the
p~~yment of taxea or othe~ liens or charges by l.ender shall not be a waiver of Irender's right to nccelerate the maturity of the indebtedness
,crured by this Mortgage.
12. Remedies Cumulative. All mmediea provided in this Mortgage are distinct and cumulative to any other right or remedy under thia
\1ortrage or afforded by law or equity, and may be exercise~i concurrently, independenUy or succesaively.
1:;. Succesaore and Asaigns Bound; Joint and Several Liability; Captiona. The covenants and agreements hernin containedahall
1,ind, and the rights hereunder shall inure to, the reapective successors and asaigna of l.ender and E3ormwer, subject to the pmvisions of
paraKrnph 17 hemot. All covenants and agreements of Borrower shall be joint and aeveral. The captiona and headinga of the paragraphs of
this Mortgage nre for covenience only and are not to be used to interpret or define the pmviaiona hereof.
14. Notice. Except ior anv notice reyuired under applicable l~ew to t-e Kivrn in another m.~nner, la- an~ nolice to E3orrower provided for in
this 1lortgage shall be qiven by mailinK such notice by rertified mail addressed to I3orrowerat the Properly Address or at auch other address as
ttorrower may desiKnate by notirn to l.ender ~s pmvided herein, and (b) any notice to I.ender ahall be given by certified mail, return receipt
nquestecl, to I.ender's address stateci herein or to such other address as l.ender may deaignate by notice to I3orrower as provided herein. Any
n, ~tirn pro~ ided for in this AlortgaQe ahull be deemcd lo have been given to Borrower or I.ender when given in the manner designated herein.
l:i. Uniform Mortgage; Governing Law; Severability. This form of mortgaKe combines uniform covenants for national useand non-
u niform cu~~enants w~th limited variations by jurisdiction to cY~nstitute a uniform xecurity instrument covering real property. This Mortgage
.hall I~e Koverned by the lavv of the juricdiction in which the Property is located. ln thP event that any pro~~ision or clause uf this Mortgage or
the Note conflicts ~+ith applicable lavr, such conflict shAll not afiect other provisions of this Murtgage or the Note which can be given et[ect
N~rthout the rnnflicting pruvision, and to thi$ end the pn,visiuns of the MortKagr ~nd the Note are declared to be severable.
16. Borrower's Copy. Borrower shull be furnished a conformed copy of the Note and of this Mortgage at the time of E:ecutiun or after
rrcurdation hereof.
17_ Transfer of lhe Property; Asaumption. IC all or any part of the I'roperty or an interest therein is sold or trana[erred by E3~r. uwer
w•rthout l.ender s prior w~ritten consent, excluding la) the creation of a lien or encumbrance subordinate W this Mort{~aqe, !b) the creation of a
F~urchase money security interest for household appliances, lc) a transfer by drvise, d~scent or by operation of law upon the death of a joint
c~•nant or (d) the Rrant of any leasehold interest of three ye~trs or less not containing an option to pumhase, I.ender may, at I.ender's option,
~itti~larn all the sums securc~ by this AlortgagP to be immediately due and payable. l.ender shall have waived such option fu accelerate if, prior
t~, the sale or trana[er, I.ender and the person tu whom the Property is to he sold or transferred mach aQreement in w~ritinq that the creciitof~ach
F~~•rson is satisf~ctory to I.ender and that the interc~ct pa~•able ~m the sums secvrcd by this Mort~;aKe shatl be at such rate as Ixnder shall
rtY~urst. If l.ender h:~ w•a~i~•ed the option to accelerc~te pro~~idecl in this paraKrxph i7, and if Korrower's successor in intererzt has executed a
:. ritten ax~umptiun aKreement acceptcd in w~ritinK bv I.ender. Iw•ndershall rele:~ge Rorrower from all obliKations underthis Mortgage and the
\ ~ ~te.
If l.ender exercises such option to acceterate, I.ender shall mai)13orn-wer notice of acceleratiun in accordance with paraRraph 14 hereof
~uch nutice shall provide a periud of not le~ than:3(I days from thedate thr notice is maile~ within which Born~vver may pay thesuins deelared
~iue•. If Borrower fails to pay such sums prior t~- thr expiratiun of such prri~xl, l.ender may, w•ithout further notice or drmand on ~rrower,
~n~•oke:~n~ remedi~s prrmitte~l b}• paraKraoh iR herr~~f.
18. Acceleration; Remediea. F.:cept as provided in paragraph 17 hereof. upon Borrower's breach of any covenant or
aareement otBorrower in this Mortgage, including the covenants to pay when due any aumsaecured by this Mortgage. Lender
prior to acceleration shall mail noiice to Borrower as provided in paragraph 14 hereofepecifying: (111he breach; (2-the action
reyuired to cure such breach; (3) a date. not iesa than 30 days from the date the notice ia mailed to ~3orrower. by which euch
t~rrnch must be cured; and (4) that tailure to cure such breach on or before the date epecified in the notice may result in
accelerat ion of the sums aecured by this :Hortqage. foreclosure by judicial prceeeding and sale of the Property. The notice ahall
further inform Rorrowrr of the right to reinstate after acceleration and the right to assert in the torecloaure prceeeding the
non-e:iatence ota default or any other defenae of Rorrower to acceleretion and forecloaure. If the breach ia not cured on or
fx~fore the date apecified in the notice. Lender at [.ender'x option may declare all ot the suma secured by this :Mlortgaqe to be
i mmediately due and payable without turtherdemand and may toreclose this Mortgege by judicial proceeding. Lender ahall be
~•ntitled to collect in euch proceeding all expensex otforeclosure. including. but not limited to. reasonable attorney's tees. and
~•~-sts otdocumentary evid~nce. abstracts and tiUe reports.
19. ~3orrower'e Right to Reinatate. holwithstandinq I,ender'a acceleration of theaumssecured by this MortgaRe, E3orrowerehall have
the right to have any proceedinqs begun by I.ender to enforce this MortKage discontinued at any time prior W entry of a judRment enforcinR
this Mortgage if: Ia1 Rorrower pays [.ender all sums which wauld be then due under this blortgage, the Note and notrs aecuring Future
Advances, if any, had no acceleration occurred; lb) Borrower cures all breaches of any other covenanta or agreementa of Borrower contained in
this MortgaQe; Ic1 Borrower pays all reasonable expensex incurred by [.ender in entorcing the covenanta and aRreements of Borrower
n,ntained in this Mortgage and in enforcinq Lender's rnmedies as provided in paragraph 18 hercwf, including, but not limited to, reaeonable
:~ ttorney's fees; and (dl Eiorrower takea such aMion as I.ender may reasonably require to assure that the lien of this Mortgage, I~ender's intereet
in tne Yroperty and E3ormwer s obliaation to pay the suma secured by this blortqage ahall continue unimpaired. IJpon euch payment and cure
~~y I3orrower, this Mortgage and the obligations secured hereby shall remain in full force and ef(ect as if no acceleration had occurred.
`l0. Assignment of Renta; Appointment of Receiver. As additional security hereunder, E3orrower hereby assigns to I.ender the renta
r~f the Property, provided that Borrower ahall, prior to acr_rleration under paragraph 18 hereof or abandonment of the Property, have the right
tu collect and relain such renta as they become due and payable.
Upon acceleration under paragraph !8 hereof ur abandonment of the Property. [.ender ahall be entitled to have a receiver appointed by a
crourt to enter upon, take poarscrasion of and manaRe the Property and to collect the rents of the Property, including thoae past due. All rents
collected by the receiver ahall be applied firet to payment of the coste of manngement of the Property and collection of renta, including~ but not
limited to, receiver a fees, premiums on receiver's bonds and reasonable attorney's leea, and then lo thesums secured by this Mortgage. The
receiver shall be liable to aceount only for those rents actu~lly received.
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