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8. InspeMion. L,ender may make or cawe to be made reaaonable entrie~ upon and iaipectioa,i of the propMy, ~ovided that l.enda ahall
give Borrower notice prior to any such in~pection epecifying reaaonable cawe therefor related to l.eader ~ inte~at in the Propaty.
9. Coademaation.'I~a pmceeds of any award or claim for damage~. direct or consequential. in coanectioa witb aay ooadaai-~tioa or
other taking of the property, or part thereof. or for co~veyanoe in Ueu oi oondemnatioa, are hereby e~si~ned and ~hall be p~id to Lender.
In the event of a totel taking of the PropeKy. the proceeda ahall be applied to the euma secured by this Mort~age. witb the ~oe~a. Jany.
paid to Borrower. In the event of a partial talcing of the Property. unlees Borrower and Leader otherwix agree in writin~, ihere shall be
appGed to the sums secured by this Mort~age such proportion ot the p~occeds ai is equal to that propoction which the amount oi the sum~
secured by thia Mortgage immediately prior to the date of taking bears to the fair market value of the Property immediately prior to the date of
eakiag. with the balanc~ of the proceeds paid to Borrower.
If the Property is abandoned by Borrower. or if. after notice by Lender to E3orrowu that the oondemnor oPfe» to make an awrard or aettk ~
claim [or damagea, Borrower [ails to reepond to Lender within 30 days aRer ihe date such aotioe is mailed, Lender is authorised to collect aud
apply the proceeds. at Lender's option. either to resbration or cepair of the pmperty or to the sumr secured by thia Mortgage.
Unless Lender and Dorrower otherwise agr+ee in writing, any such application of proceeds b principal shall not e:tend or postpoae the due
date of the monthly inatallmenta referred to in paragraphs 1 and 2 hereof or change the amount of euch iaatalla-eats.
10. Borrower Not Released. Este~sion o! the time for pavm ~nt or modifiration of amortization of the a~xa~a secured by this Mortgag~
~[ranted by I.ender to any aucresaor in intereat of Eiorrower eha~ not operate to release, in any manner, the liability of the original Borrower
nnd Borrower's succesaore i~ intereat. I.ender ahall not be required to oommence proceedings againat such auec,~qsor or refuse to e:tend time
for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demanbmade by theoriqinal Borrower
and E3orrower's aucceasors in interest.
1 I. Forbeara~ce by Lender Noi e Weiver. Any forbearance by L~der in e:erciaing any right or remedy here~u-der, or otherwise
a Plorded by applicable law. ehal! not be a waiver of or preclude the exercise of any such right or remedy. The prc~curement otineuranoe or the
payment of te~cea or othP- liene or chargee by I.ender shaU not be a waiver of Lender'a right to accelerate the maturity of the iadebtedneas
secured by this Mortgage.
12 Remedies Cumulative. All remedies provided in thia Mortgage are diatinct and cumulative to any other right or ermedy under this
Mortrege or afforded by law or equity. and may be exerciee~l wncurrenUy, independendy or euecessively_
13. 3uccessors and Aseigns Bound; Joint and 3everal Liability; Captioas. The covenants and agreementa herein oontained shall
bind, and the righta hereunder ahall inure to, the re8pective auccessore and aasigns of I.ender and Sorrovrer, subject to the provisiona of
paragraph I? hereof. A11 rnvenante and agreements of Borrower shall be joint and eeveral. The captioaa and hesdings of the paragraphs of
thia Mortgege are for covenience only and are not to be used to interpret or define the provisions hercof.
14. Noti~e. Except for any notice required under applicable law to be given in another manner, (al any notice to Borrower provided forin
thia Mortgage ahall be given by mailing such notice by certified m~il addreaeed to Borrower at the Property Addrese or at snch other addrese aa
Borrower may deaignate by notice to l.eader as provided herein, and (b) any notice to l.ender ahaU be given by certi6ed mail, return re~~eipt
~ requeated, to l.ender a addreae atated herein or to such other address aa Lender may deaignate by notice to Borrower aa provided herein. My
~ notice provided for in this Mortgage ehall be deemed to have been given to Borrower or I.ender when given in the manner designated 6erein.
15. Uniform Mortgage; Goveming l.aw; Severability. Thia form of mortgstAe combinea uniform oovenanta for national uaeand non-
aniform covenante with limited variationa by juriadiction to eonatitute a uniform security inst~uent oovering real property.'I~is Mortgage
r;hsll be governed by the law of the juriadiction in which the Yroperty is Iceated. In the event that any proviicion or clauae of thia Mortgage or
the Note contlicts with applicable law, such conflict ahal) not afiect other proviaions of this Mortgage or the Note which can br given effect
N~thout the rnnflicting provision, and to thia end fhe proviaiona of the Mortgage and the Note are declared to be severable_
16. Rorrower'e Copy. Borrower shall be furnished a conformed rnpy of the Note and of thia Mortgage at ehe time of e:ecution or after
recordation hereof.
17. Trana[er of the Property; Aeeumption. If all or any part of the Property or an in:erest therein is soW or tranaferred by Botrower
w~thout Lendei s prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to this Mortgege. !b) the creation of a
-~ ~~ rchase rt~oney security intereat for household appliancea, (c) a tranefer by devise, d.~seent or by operation of law upoa the death of a jomt
~ ~ tenant or (d) the grant of any leasehold interest of three yeara or lese not rnntainiRg an option to purchase, Lende~ may. at Lender s option,
~ wi declare aU the aums aecured by this Mortgage to be immediately due and payable. Lender ahall have waived anch option to aecelerate if, prior
, to the sale or tranefer, I.ender and the person to whom the Property ia to be sold or traneferred rnach agreement in writing that the credit of snch
. person is satisfectory to I.ender and that the interest payable on the suma secured by thiH Mortga~e shall be at such rate as Lender ahall
' request. If Lender has waived the option to accelerate provided in this paraRraph t 7, and if Borrower a sucoessor in interest has e:ecvted a
written assumption agreement accepted in writing by l.ender. I.ender shall release Borrower from all obligations under this Mortgage and the
\ote. ' . .
If Lender exercises such option to accelerate, I.ender shall mail Rorr+ower notice of acceleration in aecordance with paragraph 1~ hereoL
~cch notice ahall provide a period of not less than :~Odays from thedate the notice is rr.ailed within which E3orrower may pa~ thesums declared
due_ If E3orrower faila to pay such sums prior to the e:pir~tion of such period, I.ender may, w~thaut further notice or demand on Borrower,
~nvoke any remedies permitted by paraKraoh iti hereof.
I8. Acceleration; Remediee. E:cept ae provided in paragraph 1? hereof. upon Borrower's breach of any oovensat or
agreement of Borrower in this Mortgage, including the cvvenanta to pay w6en due any sums secured by this ~Iortgage. Lendet
prior to acceleration eha11 mail notice to Borrower as provided in paragreph 14 hereof specifying: (1) the breac~; (2) t6e action
requir~d to cute such breach: (3) a date, not lesa than 30 daye from the date the notice is mailed to Borrower. by w6ic6 sac6
breach muat be cured: and (4) t6at failure to cure such breach on or before t6e date specified in the notice may result in
acceleration of the aums seclured by thie Mortgage. toreclosure by judicial proceeding and sale ott6e Property. The natice a6a11
further inform Borrower of t6e right to reinstate aRer acceleration and the rig6t to essert in the foreclosure proceedin~ t6e
non-eziatence of a default or any other detenae of Borrower to aoceleration and foreclosure. If the breach is not cured on or
before the date specified in the notice, Lender at l.ender's option may declare all otthe eume secured by t6is Mortgage to be
immediately due and payable without furtherdemand and may foreclose thie Mortgage by judicial proceediag. l.enderrhall be
entitled to collect in such proceeding all espenaes of toreclosure. including. but not limited to. reasoaable attorney's tees. and
rosts of documentary evidence. abstracts and title reporta.
19. Borrower's Bight to Reinetate. Notwithatanding I,ender's acceleration of the auma secured by thie Moitgage, Borrower ahall ha~ e
the right to have any proceedings begun by [.ender to enforce this Mortgage diacontinued at any time prior to entry of a judgment enforring
this Mortgage if: (a) Borrower pays Lender all auma which wonld be then due under thie Mortgage, the Note and notea eecuring Futare
Advancea, if any~ had no acceleration occurred; ~b) Borrower rurea all brea~.hea o[any other eovenants or agreementa of Borrower oontained in
this Mortgage; (c) tiorrower pays sll reasonable eupenaes incurred by Lender in enforcing the oovenants ar~d agrsemmta of Bormwrer
contained in, thie Mortgage and in enforcing Lender'e remedies as provided in paragraph 18 hereof. including, but not limited to, reasonable
a ttorney'a feea; and (d)13orrower takea auch action as Lender may reasonabiy require to aaanre that the lien of thia Mortgag~ Lender's intereet
in the Property and Borrower a obligation to pay the auma eecured by this Mortgage ahall continue unimpaired Upon such payment and care
by Borrower, this Mortgage and the obligations secured hereby aha0 remain in full force and et~ect as it no acceleration had ottvrred.
20. Aasignment of Rentp; Appointment of Receiver. As additional security hereunder, Borrower hereby asaigns to I<ndertherenta
of the Property, provided that Borrower shall, prior to seoeleration under paragraph 18 hereof or abandonment oithe Property, have the right
to collect and retain auch renta ae they become due and payable.
Upon aaxleration under paragraph 18 hereof or abandonment of the Property, I.ender shall be entided to have a receiver appointed by a
oourt to enter.upon, take po~eeeaeion of and menage the Property and to collect the rente of the Property, inclnding those past dae. All rents
collected by !he reoeiver ahall be applied firat to payment of the oosts of management of the Property and rnllection of reats, including, bat not
limited to, receiver e fees, premiume on receiver's bonds and reaeoneble attorneyb feea, and then to the suma aecured by this Mortgage_ 7be
receiver shall be liable to aooount only for those rents actually received.
~.~ 348 P~~E 524
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