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(b) To pay all amounts owed by Mortgagor payment of which is <br />secured by this Mortgage; <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 Bindin~ upon Successors and Assi ris. Subject to the limitations stated in this <br />Mortgage on transfer of Mortgagor's interest, this Mortgage shall be binding upon and inure to the <br />benefit of the parties, their successors and assigns. <br />12.3 Notices. Any notice under this Mortgage shall be in writing and shall be <br />effective when either delivered in person or, if mailed, shall be deemed effective when deposited as <br />registered or certified mail, postage prepaid, addressed to the party at the address stated in this <br />Mortgage. Any party may change its address for notices by written notice to the other. <br />12.4 Invalid Provisions to Affect No Others. If any of the provisions contained <br />in this Mortgage shall be invalid, illegal or unenforceable in any respect, the validity of the <br />remaining provisions in this Mortgage shall not be affected thereby. <br />12.5 Chan~es in Writing. This Mortgage and any of its terms may only be <br />changed, waived, discharged or terminated by an instrument in writing signed by the 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 be superior to the <br />rights of the holder of any intervening lien or encumbrance. <br />12.6 Applicable Law. This Mortgage has been executed and delivered to <br />Mortgagee in the State of Oregon. The law of the State of Oregon shall be applicable for the <br />purpose of construing and determining the validity of this Mortgage and determining the rights and <br />remedies of Mortgagee on default (including, specifically, the provisions of ORS 271.390). <br />IN WITNESS WHEREOF, the undersigned has executed and delivered this <br />Mortgage as of the date first set forth above. <br />MARION COUNTY, OREGON <br />By: <br />STATE OF OREGON <br />Name: <br />Title: <br />MORTGAGE PAGE 6 <br />