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8. Inspection. l.ender may make or cauae to be made reaeonable entriee upon and inapections otthe property, provided that l.ender ehall
Kive Eiorrowe~ notice prior to any euch inspection epecifying reaxonable cauee therefo~ related to l.ender'e interest in the Property.
9. Condemnatioa. The proceede of any award or claim for damages, direct or consequential, in connection with any oondemnation or
other taking of the pmperty, or part iheteof, or for conveyance in lieu of rnndemnation, are hereby aeeigned and ehall be paid to [.ender:
In thr event of a total taking of the Prope-ty. the proceeds ehall be applied to the eums eecured by this Mortgage, with the exceae. if any.
paid to Borrower. ln the event of a partial talcing of the Property, unleas Borrower and I.ender otherwiee aRree in writing, there shall be
applied to the auma eecured by thia Mortgage auch proporiion of the proceeds as ia equal to that proportion which the amount of the suma
aecured by this Mortgage immediately prior to the date of taking bears to the fair market value of the Properly immediately prior to the date of
tt~king. with the balancti of the proceede paid to Borrower.
If the Property ie abandoned by Borrower, or if, atter notice by Lender to E3orrower that the condemnor offers to make an award or eettle a
cl~im for damages, Borrower faile to reapond to I.ender within 30days after the date auch notice ie mailed, l.ender is authorized tocollect and
~-pply the proceeda, at I.ender's option, either to reetoration o~ repair of the property or to the aums aecured by this Mortgage.
Unlese [.ender and Borruwer otherwiae agree in writing, any auch application of proceeds to principal ahall not extrnd or postpone the due
cinte of the monthly inatallmenta referred to in paragraphs 1 and 2 hereof or change the amount of such installments.
t0. Borrower Not Released. F.xtension uf the time for pay~m~nt or modification of amortization of the sums aecuted by this Mortgage
~;ranted by [.ender to any successor in interest of Borrower shaU not operate to release, in Any manner, the IiAbility otthe original Borrower
and Borrower's successora in internst. I.ender shall not be reyuired to commence proceeciinga againat such succeasor or refuae to extend time
i„r pnyment or otherwise modity amurtization of thc sums secured by this Mortgage by rcason of any demund made by theoriginal Borrower
:~nd E;orrower s succeASOrs in inte~c~t.
11. Forbearsnce.by Lender Not a Waiver. Any forbearance by [.ender in exerciaing any right or remeciy hereunder, or otherwiee
d~fforded by applicable law, ahall not be a waiver of or preclude the exerrise of any such riqhl or remedy. The prceurement of inaurance or the
p:~yment of taxes or other liens ur chargea by I.ender ahali not be a waiver of I.ender's right to accelerate ~he maturity of the indebtedneas
scrured by thia Mortgage_
12 . Remediea Cumulative. All remedies pmvided in thia Mortgage are diatinct and cumolative to any other right or mmedy under thia
Uurtrage or afforded by law or equity, and may be eaerrise~i concurrently, independently or succeesively.
13. Successors and Aasigne Bound; Joint and Several Liability; Captione. 7'he covenants and aE~reements herein oontained shall
},ind, and the rights hereunder ahall inure to, the reapective succesaors and aseigns of l.ender and Borsower, aubject to the provieione of
~,;~riKraph 17 hereof. All covenants and agreementa of I3orrower shall be joint and aeveral. The captions and headinga of the paragrapha of
this Mortgage are for covenience only and are not to be used to interpret or define the pm~~sions hereof. -
l A. Notice. Except for any notice reyuired under :ipplicnble Inw to be Kiven in anothLr mnnner, (n) any notice to l3orrower pro~ ided for in
t h is Mortgage shall be given by mailing such nutice by certified mail addressed to l3orrower at the Properiy Address or at such other address as
I;orn,wer may designate by notice to l.ender as provided herein, and (b) any notice to l.ender ahall be given by certified mail, return receipt
r.r~uested, to l.ender's address stated herein or to such other address as l.ender may designate by notice to Borrower ax provided herein. Any
n~~tice provided Cor in this Mortgage shali be deemcd to have been given to E3orn.wer or l.ender when given in the manner deaignated herein.
15. Uniform :Hortgage; Governing Law; Severability. This form of mortgagecombines unitorm rnvenanta for national use and non-
uniform covenants with limited variations by jurisdiction to rnnstitute a uniform security instrument co~•ering real property. This Mortgage
.hall be governed by the law of the jurisdiction in which the Property is Iceated. In the event that any provic+ion or clause of this Mortgage or
the \ote cuntlicts with applicable law, such contlict shall not affect other provisiuns of this Mortgaqe or the Note which can be given effect
~•ithuut thP rnnflictinK pro~7sion, and to this end the provisions of the Mortgage and the Note are declared to be severable_
16. Borrower'g Copy. Korrower shall be furnished a conformed cnpy of the I~lote and of this Mortgage at the time of execution or after
~~ ~ rrc f~ ~ation hereof.
`~ 17. Tranafer of the Property; Asaumption. If all or any part of the Property or an interest therein is sold or tranaferred by Borrower
~' ,~ «ithout l.ender'~ vrior written conaent, excluding (a) the crnation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a
? ='
~+ F,urchuse money ~,r uri~y, jntereat for household appliances, Ic1 a transfer by devise, d~scent or by operatian of law upon the death of a joint
tf•nant or (d) the ~trant of any leasehold interest ot three years or less not containing an option to purchase, I.ender may, at I.ender s option,
: dc~c•lare all the sums securee by thiss Mortgage to he immediately due and payable. l.ender shall have waived such option to accelerate if, prior
~~ t~~ the sale or transfer, l.ender and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such
',`_pe~rson is satis~actory to l.ender and that the interest payable on the soms secured by this b9ortgage shall be at such rate as Ixnder shall
_ rF~c~uest. If I.ender has w•ai~ed the option to accelerate pri-vided in this paragraph 17, ~nd if Fiorrower s successor in interest has executed a
_ w•ritten assumption aKreement accepted in writinK by I.ender, l.endershail release Borrower from all obligations.underthis Mortqageand the
\ ute.
If I.ender exercises such option to accelerate, l.encler shal! mail Rorrnwer noticeof acceleration in accordance with paraKraph 19 hereof.
~uch notice shall provide a period of nut Icss than :i0 da~ s from the date the notice is mniled within which Borrower may pay thesums declared
~iue. If Borrua~er fails tu pay such sums prior to the expiration of such peri~-d, lxnder may, without further notice or demand on lior*ower,
~m•oke any remed'ees permitted by paragraoh iR herer~L
18. Acceleration; Remediea. E:cept as provided in paragraph 17 hereof. upon Borrower's breach ot any covenant or
:i~reement of Borrower in thia Mortqage. including the covenanta to pay when due any sums aecured by this Mortgage. Lender
~~r ior to acceleration ahall mai 1 notice to Borrower as provided in paragraph 14 hereof apecifying: (1) the breach; (2) the action
rc•quired to cure such breach; (3) a date. not leas than 30 days from the date the notice is mailed to Borrower, by which euch
t~reach must be cured; and (4) that failure to cure auch breach on or before the date apecited in the notice mey reault in
acceleration of the suma secured by thie Mortgage. foreclosure by judicial proceeding and ealeof the Property.The notice shall
further inform Borrower of the right to reinatate aRer acceleration and the right to easert in the foreclosure prceeeding the
n~~n-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the breach ia not cured on or
tx•fore the.date specified in the notice, Lender at Lender's option may declare all ot the sums secured by this Mortgage to be
immediately due and payable without furtherdemand and may foreclose this Mortgage by judicial proceeding. Lendershall be
c•ntitled to collect in such proceeding all expenses of Coreclosure. including, but not limited to. reasonable attorney'e~ feea. and
custs of documentary evidence, abstracts and title reporte.
19. I3orrower's Right to Reinetate. Notwithstanding I.ender s acceleration of the auma secured by this Mortgage, Borrower shall have
the right to have any proceedinga bequn by I.ender to enforce thia Mortgage discontinued at any time prior to entry of a jud~nent enforcing
this Mortgage if: (a) I3orrower pays (.ender a11 sums which would be then due under this Morigage, the Note and notes securing Future
rldvances, if any, had no acceleration occurred; (b) Borrower curea al) breacheaotany othercovenanta or agreemenfs of Borrowercontained in
thia Mortgage; (c) Borrower pays all reasonable expenses incurred by Lender in enforcing the covenants and agreements of Borrower
~~ontained in this Mortgage and in enforcing Lender's remedies as provided in paragraph 18 hereof, includinq, but not limited to, rnasonable
:ittorney's fees; and Id1 Borrower takes auch action as Lender may reasonably mquire to assure that the lien otthis Mortgage, Lendei s interest
in the Property and F3orrower s obliRation to pay the sums secured by this Mortgage shall continue unimpaired. Upon such payment and cure
by E3orrower, this Mortgage and the obligations secured hernby ahall remain in [ull torce and effect as if no acceleration had occurred.
Z0. Aesignment of Rents; Appointment of Receiver. As additional security hemunder, Borrower hereby asaigns to Lender the renta
of ehe Propercy, provided that Borrower shall, prior to acceleration under paragraph 18 hereof or abandonment of the Property, have the right
to collect and retain auch rents as they become due and payable.
Upon acceleration under paragraph 18 hereof or abandonment of the Property, Lender ahall be entitled to have a receiver appointed by a
court to enter-upon, take posseaeion of and manage the Property and to collect the rents of the Property, including those past due. All rente
collected by the receiver aha1) be applied ferst to payment of the coats of managementof the Property and collection of rente, including, but not
limited to, receiver's fees, premiums on receiver a bonds and reasonable attorney's fees, and then to the sums aecured by thie Mortgage. The
receiver shall be liable !o acoount only for those rents actually received.
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