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8. Inepection. I.ender may make or cauee to be made reaeonable entried upon and inspections of the properiy, provided that l.ender ehall
Kive Borrower notice prior to any such inspection epecifying reasonable cauae theretor related to l.ender'e intereat in the Property.
9. Condemnation. 'l1~e proccede o( any award or ciaim for damages, direct or conaequential, in con~ection with any oondemnation os
~~ther taking of the property, or part thereof, or for con:=eyance in lieu of oondemnatio~, are hereby aaeigned and shall be paid to Irnder.
In the event of a total taking of the Property, the proceeda ahaU be applied to the aums eecured by thie Mortgage, with ihe exceas, if any,
paid W Bor~ower. ln the eve~t of a partial taking of the Property, unlesa Borrower and I.ender otherwiee agree in writi~g, there eha11 be
:-pplied to the suma secured by thie Mortgage euch proportion ot the proceede ae is equal to that proportion which the amount of the aume
riec~ured by this Mortgage immediately prior to the date of taking beara to the fair market value of the Piruperty immediately prior to the date of
tF~king, with the balan~ ot the proc~eede paid to Borrower.
1 f the Property ia aba~doned by Borrowet, or if, aRer notice by I.ender to E3orrower that the oondemnor offera to make an award or setde a
cluim for damages, E3orrower fails w reapond w I.ende~ within 30 days after the date auch notice is mailed, Ixnder is authorized to collect and
:+pply the proceede, at l.ender a option, either to restoration or ~rpair of the property or to the eums aecured by this Mortgage.
Unleaa I.ender and Borrower otherwise agree in writing, any such application of proceede to principal shall not eatend or poetpone the due
ciate of the monthly inatallments referred to in paragraphs 1 and 2 hereof or change the amount of euch installmente.
10.13orrower Nut Releaeed. Extension ot the time tor paym ~nt or modification of amortization otthe sums aecured by this Mortgage
~;r:~nted by l.ender to any successor in intereat of Rorrower ahail not operate to rele~se, in nny manner, the liability of the original Borrower
and I3orrower's succe~ors in interest. l.ender sh111 not be reyuired to crommence proceedings aguinst such auccessor or refuae to extend time
f~ ~r pu}•ment or otherv- ise m~xlify :~mortizi~tion of thr sums a~rumcl by this MortgaKe by reason of nny demnnd made by the original Borrov-er
:u~d l~~rn-wer's succe::.w~rs in interrst.
I 1. Forbearance by Lender Not a Waiver. Any forbearance by I.ender in exerciaing any right or remedy hereunder, or otherwise
.~fforded by applicable law, shall not be a waiver of or preclude the exercise of any such riRht or remedy. 7'he procurement otinaurance or the
p:iyment of taxea or other liens or chargea by l.ender ahall not be a waiver of l.ender's right to accelerate the maturity of the indebtedneae
.~~c•ured by thia Mortgage.
t Z Remedies Cumulative. All rnmediea provided in thia Mortgage are distinct and cumulative to any other right or remedy under thie
~tort.-age or aftorded by law or equity, and may be exercise~l concurrently, independently or successively.
13. Successore and Assigne Bound; Joint and Several Liability; Captione. The covenants and aqreements herein conts-ined ahall
i~ind, and the rights hereunder shall inure to, the mapective successors and axaigna of l.ender and Borrower, aubject to the proviaions ot
paraKraph 17 hermf. All covenanta and agreements of I3orrower ahall be joint and aeverul. The captions and headingtr of the paragrapha of
this Mortgage are [or covenienrn only and bre not to be used to interpret or define the proviaions hereof.
l4. Notice. M:xcept for nny notice required under a~pplicnble law tu be Kiven in anoth:r manner, la) any notice to l3ormwer pro~ ided for in
t ti is Mortgage shaU be given by mail ing such notice by certi fied mail addressed to E3orrower at the Yroperty Address or at such other addresB as
Fi~~rruwer may desiRnate by notice to I.ender as provided herein, and (b) any notice to I.ender ahall be given by certified mail, return receipt
rtti~uested, to l.ender's address stated herein or to such other address ass Lender may designate by notice to E3orrower ax provided herein. Any
~~~ ~tice provided for in this Mortgage shall be deemed to have been given to t3orrower or I.ender when given in the manner designated herein.
15. lJn iform Mortgage; Governing I.aw; Severability. This form of murtgage combines uniform rnvenants for national uae and non-
uniform ~~,eenants with limited variations by jurisdiclion to constitute a uniform security instrument covering real property. This Mortgage
~h:ili t-e qo~•erned b~ the lavv of the jurisdiction in which the I'roperly is located. In the ecent that any proviRion or clause of this Mdrtgage or
e hr \uce conf icts w•ith applicable law, such conflict shall not affect other provisions of this Mortgage or the Note which can be given effect
w ithuuL the conflictinK provision, and to this end the provisions of the Mortgage and the Note are declared to be severable.
i 6. Borrower's Copy. E3orrower shall be furnishcd a conformed copy of the Note and of thia Mortgage at the time of execution or after
- rtrnrdation hereof.
~~ 17. Tranafer of the Property; Assumption. If all or any part of the I'roperty or an intereat therein ia sold or tranafermd by Borrower
'' H ithout l,ender's prior written consent, excluding (a) the creation ot a tien or encumbrance subordinate to this Mortqage, (b) the crnation of a
~ j~un•hase mor.ey scrurit;; interest for household appliances, Ic1 a transfer by deviae, descent or by operation of law upon the death of a joint
' ~~t~•n.int or ld1 the Kr:~nt uf any leasehold intemat of threr years or less not containing an option to purchase, I.ender may, at I.ender s option,
~~i<•clare all the sums securea by this Dlortgage to be immediately due and payable. l.ender shall have waived such option ta accelerate if, prior
~~~ ~ the sale or transfer, l.ender and the person to whom the !'roperiy is to be sold or transferred reach agreement in writing that thecredit of such
t~f•rsun is satisfactory to I.ender and that the interest payable on the sums secured by this MortgaKe shall be at such rate as I.ender shall
r~v~uest. (f Ixnder has w•ai~ed the uption tu accelerate pruvided in this pazaKraph 1 i, and if 13orrower's xuccerfsor in interest has executed a
H ritten assumptiun aKreement accepted in writinK by I.ender, l.endershall release Rorrower fr~~m aIIobliKations underthis Mort~ageand the
\ ute-
If I.ender exerciser; such option to ac~rlerate, l.ender shall mail Rorrower notice of accelerati~~n in accordance with paragraph 14 hereof.
~uch notice shall prnvide a pc•riod of not Irss than :iU davs fr~~m the date the notice is mailed within w•hich Born~wer may pav the sums declared
~lut•. If Borrower fails t~~ p~y such sums prior tu the expiration uf such prriud, I.ender may, without further notice or demand on liorrower,
~n~~okeam• remc~dii~ permitted t-y paraKraoh (ti hercyif .
18. Acceleration; Remediea. Ezcept as provided in paragraph 1? hereof. upon Borrower's breach of any covenant or
.iKreement of Borrower in thia Mortgaqe, including the covenanta to pey when due any e~ums aecured by thie Mortgage. Lender
E~rior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereofapecifying: (l) the breach;l2)the aMion
rc•c~uired to cure auch breach; (3) a date. not less than 30 days from the date the notice is mailed to Borrower. by which such
~~reach must be cured; and (4) that failure to cure such breach on or before the date epecified in the notice may reault in
<-c•c•eleration of the euma secured by this 1~Iortgage, foreclosure by judicial proceeding and sale of the Property. The reotice shall
further inform Borrower otthe right to reinstate aRer acceleration and the right to aasert in the foreclosure proceeding the
non-e:istence of a default or any other defenae of Rorrower to acceleration and foreclosure. If the breach is not cured on or
Ix•fore the date speciCed in the notice. Lender at l.ender'e option may declare all of the suma secured by this Mortgage to be
i mmediately due and payable without furtherdemand and may foreclose this Nortgage by judicial proceeding. Lender ahall be
~•ntitled to collect in such pmceeding all expenses of foreclosure, including. but not limited to. reasonable attorney's fees, and
cv~~ts of documentary evidence, abstracts and title reports.
19. Borrower's Riqht to Reinatate. NotwithstandinK l.ender's acceleration of the sums secured by this Mortgaqe, E3orrowerAhall have
the right to huve any proceedinga begun by I.ender to enforce this Mort~age discontinued at any time prior to entry of a judgment rnforcing
this Mortgage if: fa) I3orrower pays (~nder all sums which would be then due under this Mortgage, the Note and notes aecuring Future
Advances, if any, had no acceleration cecurred; lb) Born~wer curea all breaches of any other covenants or agreementa of Borrower contained in
this blortgage; (c- E3orrower pays all reasonable expensea incurred by (.ender in enforcing the covenanta and agreements of E3onower
n,ntained in this Mortgaqe and in enforcing Ixnder's remedies as provided in paraE[raph 1 A hereof, including, but not limited to, rnasonable
:~ttorney's fees; and Idl f3orn,wer takes such action as l.ender may reasonably require to assure that the lien otthis Mortgage, Lender's intereat
~ n the Pmperty and Borrower's obliqation to pay the aums secured by this Mortqage ahall continue unimpaimd. Upon such payment and cure
t~~• [3orrower, this Mort{;aQe and the obligationa secared hereby ahall remain in full force and effect aa if no acceleration had occurred.
10. Asaignment of Renta; Appointment of Receiver. As additional eecurity hereunder, E3orrower hernby asaigns to Lender the renta
~,f the Ymperty, provided that Bormwer shall, prior to acceleration under paraqraph lA hereof or abandonment of the Property, have the righl
tu collect and retain such rnntx as they become due and payable.
Upon acceleration under paragraph 18 hereof or abandonment of the Property. I.ender ehal) be entided to have a receiver appointed by a
c~~urt to enter.upon, take posseasion of and manage the Property and to collect the mnts of the Property, including thoee past due. Al) rnnte
~~nllected by the receiver ahall be applied first to payment of the rnsta of management of the Property and collection of renta, including, but not
limited to, receiver's feea, premiums on receiver's bonds and reasonable attorney's fees, and then to the auma Becured by this Mottgage. The
receiver ahall be liable to acrnunt only for those rentx actually received.
o~J~,X.
`~~ 345 ~~~~f 2~Q6
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