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(a) To pay the costs of foreclosing on the lien of this ortgage, <br />including without limitation the attorneys fees of the Mortgagee as pr vided in <br />Section 112 above; ~ <br />(b) To pay all amounts owed by Mortgagor payment o~ which is <br />secured by this Mortgage; ~I <br />(c) The surplus, if any, shall be paid to the Mortgagor. <br />12. MISCELLANEOUS <br />12.1 Time of Essence. Time is of the essence of this Mortgage. <br />12.2 Bindine unon Successors and Assi~ns. Subject to the limitati ns stated in this <br />Mortgage on transfer of Mortgagor's interest, this Mortgage shall be binding upo and inure to the <br />benefit of the parties, their successors and assigns. I <br />12.3 Notices. Any notice under this Mortgage shall be in wri ing and shall be <br />effective when either delivered in person or, if mailed, shall be deemed effective w en deposited as <br />registered or certified mail, postage prepaid, addressed to the party at the addr ss stated in this <br />Mortgage. Any party may change its address for notices by written notice to the o her. <br />12.4 Invalid Provisions to Affect No Others. If any of the prov sions contained <br />in this Mortgage shall be invalid, illegal or unenforceable in any respect, th validity of the <br />remaining provisions in this Mortgage shall not be affected thereby. <br />12.5 Changes in Writing. This Mortgage and any of its te s may only be <br />changed, waived, discharged or terminated by an instrument in writing signed by he party against <br />which enforcement of the change, waiver, discharge or termination is sought. Any agreement <br />subsequently made by Mortgagor or Mortgagee relating to this Mortgage shall b superior to the <br />rights of the holder of any intervening lien or encumbrance. - <br />12.6 A~plicable Law. This Mortgage has been executed <br />Mortgagee in the State of Oregon. The law of the State of Oregon shall be ~ <br />purpose of construing and determining the validity of this Mortgage and determin <br />remedies of Mortgagee on default (including, specifically, the provisions of ORS <br />MORTGAGE <br />d delivered to <br />~licable for the <br />; the rights and <br />~ 1.390). <br />PacE 6 <br />