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Home My WebLink About1055 8. Iaspection. I.ender ma~• n~ake or cau~c to Ix• mude re:~souxble r~ih•ies upau :~nd inspectious of the Pmp- crty, pmvided that I.ender shnll give 13orro~cer notice ~n•ior to an~ su~l~ ins~~ection .~~ecifyinR rn~sonable cause therefor related to I.ender'F interest in tLe Yropcrt~ . 9. CondemuatioA.' Thc ~~roceeds o! _any u~varcl or cli?in~ tor dainages, direct or consequential, in connection ~vith any eondemnation or other taking of the Pro~?ert~ , or ~?art tlicreof, or for com•eyance in lieu of condemna- tion, are hereby assiRnecl and sl?All I~e paid ta I.ender. In the event of a total t~king of the Pmpert~~~, the proce~~cis ~l?sll 1?e n~?plied to the ~ums see~~reci by this \sort- gage~ a•ith the excess, it nny, paid to Borro~~er. In the event of a partinl taking of the Propcrty, unless Borrower ,ind l.ender othern•ise agrec in ~vriting, thern sl~all he a~?plicci to tl?c suni~ secure~l b~~ this \iort~agc such propor- tion of the proceeds ns is equal to that proportion ~vhich the amount oi the suins securecl by this \iortgage imme- ~liately prior to thc datc of taking tien~ to ti~c fair ~uarket ~~aluc of thc Propcrt~ immecliatel~~ prior to the date of taking, with the bulance oi the proceeds paid to Aorro~rer. If the Property is abAndoneci by Borro~ver or if nfter notice i~~• I.ender to Borro~ver that the condeninor offers to make an award or settle n claim for ~lamages, Borro~~•er fails to ms~~onct to I.endcr within 30 days of the date of such notice, I.ender is authorizecl to collect sn~i Appl~ the procreds at. I.ender'. option either to restoration or repair of the Property or to thc ~un~s secureci h~ this \[oriRn~c. Unless I.ender nnd Borrower othenvise agree in ~vriting, Any suci~ application of proceeds to ~~rincipal shall not extend or postponc the due date of the monthly insta~Un~ents mterreci to in paragra~~hs l And 2 hereoi or ch~nge the amount ot such installments. 10. Borrower Not Relearsed. Extension of tl~c tin~c for ~~a,y~nent or ~naiification of amortization of the sQMs secured by this 11Tortgage grnnted by I.ender to nm• successor i» interest of Borrower shs?ll not opernte to release, in any manner, the liabilit~ of the originn) Botro~ver and Borro~tier's successors in interest. I.ender shall not be requirc~ci to commence proceedings against such successor or mfus~• to extend time for puyment or othenvise modify :unortisation of the sums secured n~ this \tortgagc by mason of am° ~leman~i inndc by the original Borrower and Rorro~ver's successors in interest. 11. Forbearance by Lender Not a Waiver. ~ny forbearance by I.ender in exercising any right or remedy hereunder, or othe~vise afforded by applicable la~v, sl?nli not bc a~r•ai~~er of or preclude the exercise of any right or remeciy hereunder. Tlic ~~rocurement. o[ insurnncc or thc ~~ayment of taxes or other iicns or churges by Lender shail not be tt ~~~aiver of Lender's right. to accelernte the mnturity of the indebtedness secured by this Mortgage. 12. Remedies Cumulative. All remedies providect in this ~tort~age are distinet and cumulative to any other right or ~~emedt un~ier this \iortgage or ~f~'orciect h~• la~~• or equit.~ . and mny bc exercised concurrently, independ- ently or successively. 13. Succeasors and Assigas Bound; Ioint and Several Liability: Captions. Tl?e covenants and agreements herein contnineci shall bind, and the rights hereunder shall inum to. the respectiv~~ succecsors and assigns of Lender and I3orro~fcr, ~UI)JCCt tA tllC ~1T0\'isiom Of ~)Ai9~i':t~)Il 17 hcreof. :~ll co~'CI1Ri1tS SI1fI R~i'E'Ci11Ci1tS Ot BOtf0~1'CT 5118~I be joint and se~~erAL The caption~ and headings of the ~~i~rngrnph~ of thi~ \Iort~age flre for con~•enience only and ~ are not to be used to interpret or definc the pmvisions hercof. 14. Notice. Any not•ice to Borro~ver ~~ro~~ided tor in this \lortgngc ~J?~ll I~c ~i~•en bf mailin~; such notice by certified roail addmsse~i to Borro~ver st the P,opert~• :~ddre~ ~tatc~l belo~~•. cacept. for :~ny notice requireci under ~~ar.zgraph 18 liereof to be gi~~en to Rorro~~•cr in the ~nanner pm~cribeci b~• applicable la~. ~ny notice provided for in this \[ortgage ~I~~ll be dee~ncd to huve hecn gi~•en to Borro~ccr ~~~hen giren in the ~nanner designated herein. 15. Uniform Mortgage; Governing Law: Severability. Thi~ form ot mortgage combiner uniform co~~enants for national use and non-uniforni co~~enants ~ritl~ limited ~•ariations lfy jurisdiction to constitute u uniform secu- rity instniment covering real propert~. This ~iortgagc sh:?11 bc governeci b~• the lat~• of thc jurisdiction in ~vhich ~ the Property is locateci. In thc event ti~at an~- provision or clause of this ~3ortgage or the 1\Tote confticts with ; c~pplieable law, such conflict shall not. nfTect other pro~•ision~ oi thi~ ~Io~tgage or the Note whieh can be given ~ eFfect ~~•ithout tl~e con8icting ~~rovision, nnd to this enci the pro~-ision~ of the ~Iortgage and the Note are declared ~ ta be severable. ~ i 16. Borrower's Copy. Bono~ver ~liall be furnisi~e~i conformed copy of this ~~Iortgage at the time of execu- ~ tion or after recordat~ion hereof. ~ 17. Transfer of the Property: Assumption. If alt or am• ~~art of ti~e Property or an interest therein is sold ~ oT t~ransferred 1~y Borro~ver ~vithout T.encter ~ i~rior n ritten consent., excluding (a) tl~e creation of a lien or encum- ~ brance sul~ordinate to this ~tortgage, (b) the crcation of a ~n~rcl~a~~ mone~ securit~ interest for household appli- ance.s, ic) a transfer by devise. descent or b~ o~~eration oi la«• u~~on thc~ ~ieatl~ oi a joint tenant or id) the grant of ~?ny leasehold interest of three ~ears or le.v not containing an ortion to purchase, I.ender may. at Lender's option, declare all the sums :ecured t?~- thi~ ~Iortgagc to bc immcrliateh• ~luc a~nd ~~avablc. T.en~ier ~hall have waived such ~ option to acceleratc if. prior to the sale or tran~fer. I.ender aucl the ~~erson to ~vhom the Pmperty is to be sold or transterred reach agreement in writing that tl~c cre~ciit oi such ~?cr~on i~ ~atisfactory~ to Lender and that the interest payable on the sums ~ccu?~ecl by tl~is \tortgagc shall Lc at sucl~ ratc us I.ender shall request. If Lender has waived `c-- a i_ a_ -.7...1 ' al.'.. L 'f ...1 :f Tl.^.T:'.^.::'P; `°::~^P~~S~r in ir2fart~ct }2gc P?IP/`1~tPf~ A WTIt- I/lC VF761V1~ lV :il:lctGi2llC ~~ivriuc« iTi uu~ ~:iaiu~iu~i.. u:.. . - . ~ ten assumption agreement accepted in writin~ by i.ender, Lenrler ~h111 relcase Borto~ver fmm all obligations under this 1'Iortgage and the Note. ~ If I.ender exercises such option to acceleratc. I.ender shall ~uail Borro«er notice of acceleration in accordance ith paragra~~l~ 14 hercof. Such noticc sl~all ~?m~-ide a periori of not lec~ tl~an 30 days from thc date the notice is ~ inaited ~vithin ~~hicL Aorro~ser ~ua~• pay the sums declared du~~. If Borro~ver fails to pa} such swns prior to the ~ cxpiration o~ such perial, I.ender may. ~~'itl~out futtlier noti~c or ~lenian~l on I3orro~ver, in~~oke anV mmedies per- - initted by paragraph 18 hereof. i ~ _ { z \~O~-I,\IFO$Ti LOVF,I~~KT~. Rorro~~ei•:?nd Leu~l~~r ft~i•tyic~r eo~•c~nant unci ag~•ee ~is follo~ti•s: ~ , ~ 18. Acceleration; Remedies. r:~ce}~t .i~ ~?ro~•i~l~yl in ~~ara~;r:i~?h 1? hereof, iq~on Rorro~~-er'c breacl~ of any ~ co~•enant or agreement oi BorroN•er in thi~ ~Iort~:sge. includinK tl~e co~~enants to ~ia~ w•hen due an~ sums secured ~ by this ~[ortgage, Lender ~irior to acceleration ~hall u~ail notice to Borrow~er as provideci in paragraph 14 hereof ~ ~~~ecitying: (1) the breaeh; (21 the .?etion requirexi to cure such I,reacl~; ~3~ a date, not le~ than thirty days from ~ the date t!?e notice is mailecl to Borm~cer. !?y ~hicl~ ,uch Inrarh must I~e cumei; an~i (4) thak failure to eurn sueh breach on or t>e[om thc datc s~~ecified in the noticc ina~ msult in acccleratiop pf the sums secured by this ~lortgagc and sale oi the Yro~~erty. If the bre:~cl~ i~ not curc~ on or heforc the ~1ate specified in the notice, T,ender at Lender's option may declare all of the suros sccurccl I?~ thi~ ~tortga~c to l~c iu~mecliately duc anii pa~able ~vithout further ~ demand and may foreclose thi~ \Iortgag~ hy judiciul ~?rocec~iing. L~n~ler ~I?all i~e entitlecl to ~cb'~'lect in such proceed- ing all ex~?enses of foreclosure, including, but not liroitcyl to, rcasonat,lc attornc,~•'s fces, and costs of documentary evidence, abstracts and tit.le reports. • ~ ~ ~ooK 244 PACf ~U56 ? ~ : _ _ _ c~~ - _ _ e . ~ :