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HomeMy WebLinkAbout0082 . ~ . ~ , ~ , ~ i • i . ~ . . , ~ 8. le~apectioa. Lsad~r may make or c~u~e b be made nawnabb eatries upon and inspectioaa of We pwpa:ty, provided Wat I.suda shaU ; give Borrowec notios prior to aay anch icupectioa speci~rin~ re~waable cau~s thenfae related to Lender'~ iaLere~t ia the Property. ~ 9. Condemaadoa. 71,e prooeed. of any awerd or ctsim for dama~e.. direcc or con.eQuenesl, ia connec~ion wiih eny oa,demnaeon or ~ oth~ tahin~ ot the Pe'cDeKj?. o: part thereof~ or for ooaveyaaos in l~u of oondemnation. ars henby a~aed and shall bs paid b Leader. ; Ia the svent of a btsl takia~ oi the ProPertY. We prooeed• sh~ll be applied ~o ~he.u~w.ecured by Wi. Mor~s~a wi W W ~oa., if aqy, ' paid to Borrowar. In the event ot a partial takins of the Prope~rty. ualas Borrower and Lei?der ot~?~vias ~~res in wriNn~~ t6ere shell be ~ applied b We suma ~ecured by t}w Mort~a~e such propo~ioa ot the proceed~ as u eqnal to that pmporNou which the amount a[ We sam~ ~ secured by this Mort~s~e immediately prior to tbe date of takin~ bear~ to the fair market velue of the Propotty in?mediately prior to tl~e dats of takin6. aith We balanoa ot the prooseds yaid b Borrower. ~ If the Propec~y ia ebsadoaed by Borrower. or i~ aRer aotiae by I.end~ to Borrow~ that the oopdemnor o~e» to make en aaud or aettle a i claim for dama~a. Borro~rer faib b re~pond to I.~der withia 30 day~ atte~ We dats snch notios i~ mailid. Lsader is authorised ~o oollect aad apply ths pr~ooseds. at Leader'~ optioa. eithe~ to restoration or rep~ir of We pmpe~ly ar ~o tbs ~ums ~wcur~l by thi~ Moctse~s. ~ Unlea Leades aad Horrower othe:wi~s agree in writin~, aay auch applicstion of prooeed~ Lo prindpal shall aot ~eead or po~tpone tbe due ; date of the month~y iiuWlmsnb referred bo in para~raphs 1 a~l 2 he:eof or chaaQe the amonnt of ~ insWimenb. E 10. Horrower Not Relea~ed. Esteasion of the ti~ne for pe~ymant or modiftcation of amortization oi the sums ~ecwnd by this Mortgage grantad by I.endes to eny succrossos in interest of Borrower ahall not operate to release. in any manner, the liability of fhe oriQinal Borro~rer t aad Borro~'e suceesson ia intenst Lender ahall not be required to oommence prooeedings against auch wooeesor or refuie to e:tend time for paymeat or othervvise modi(y amo:tization of L1?e suaas eecured by thie Mortgage by reason of any demand mede by the original Borrower f and Borrowds auoeessors in interest. ; 11. Forbeannoe tij Leader Not a Wdver. Any forbearance by Lender in ~ercisin~ any right or remedy hereunder. ~ otherwise ' a~orded by applicable law. shisll not be a waiv~ of or preclude the ~e~rcise of any snch sig6t or remedy. Tha procarement of inswranoe a~ the ~ peyment of tazes or othe~ li~s or charge~ by L~der ~hall not be a waiver of I.endez's right to aooelezate We matu~ty of the indebtedaess ~ eecvred by this Mortgage. ~ ; 12 Remedie~ G~mnlative. All remedies provided in thia Mortgage an diatinct and cumulative to any other right or nmedy under thi~ ~ Mortgage o~r affoided by law or eqnity. and ma,q be ezercise~i ooncurreat~y. indep~dently or suooeNivdy. ~ 13. Suooee~oro and As~i~ns Bound; Joiat and 3everal Liabllit,; CapHon~. The oov~ants and agreements hezein aoneaiaed shall bind. and the righb he~unda shall innn to. the respective aaoeeesors and e~eign~ of Leader and Borrowez. snbject to the provisions of parag~aph 17 hereot All covenants and age+eements of Borrowe: shall be joint and eeveral. The captiona and headings of the paragraptu of - ~ thia Mortgage are for ooveaience only and are not to be used to interprat or de5ne the provisions hereof. ; 14. Notioe. E:cept for any notioe required under applicable law to be given in anothe: menner. (a) any notice to Bdrrower pmvided for in this Mort~age ahall be given by mailing suc6 notioe by certified mail addressed to Borrorver at the Property Address or at anch other addnas as Borrower may deaignate by aotioe to Lender as provided herein. ead (b) any notioe to Leader shall be given by oe:tified mai1. nturn reoeipt : requcsted. to Lender'a addr~s atated herein or to snch other addresa as Lender msy designate by notice to BorrowQ aa provided herean. Any s', notioe provided for ia thia Mortgage shall be deemed to have been giv~ to Bo:rower or Lendrr when giva~ in the aiann~ designeted herein. ~ 15. Uniform Mortgag~ Governing Laa; Severability.lLia form of mortgage oombines uniform ooveaants f~ national nse and non- : nniform ~ove~ants ~vith limited variatians by jurisdidion to constitnte a naiform security instrument ouvaing real prop~ty.'1liia Mortgage ' shall be governed by the law of the jurisdiction ia which the Property is locaLed. In the ev~t W at any proviaion or claoee of this Morfgage or j the Note contlicte with applicable law. such conflict s6all not a~ect other provisions of thie Mortgage or tbe Note ahic6 can be give~a effect ; without the oonflicting pmviaioa, and to thia end the proviaions of the Mortgage and the Note are declared to be severable. ; 1& Borrower'~ Copy. Borrower shall be furniahed a oonformed oopy of the Note and of tbis Morfgage at We time of ~ecution or aRer reoordation he~eof. ~ 17. 'lYansfes of the Property; Awnmptlon. If all or aay pazt of the Property oi an interesi therein ia soW or transferred by Borrower ~ without I.ender's prior written cone~t, e:dnding (a) We creation of a li~ or encambrance subordinate to thia Mortgege, (b) the creation of a ` pnrchaee money security interest for househoW appliances, (c) a transfer by devise, deeoent or by operation of law npon the death of a joint tenant or (d) the grant of any leasehold intereat of three years or leee not oontaining an option to purchese, Lendet may. at Lender'e option. declare all the auma secared by thia Mortgage to be immediately dae and payable. Lender shall have waived auch option to aocelerate if. prior ` to the aak or trana[er, Lender and the person to whom the Property ia to be eold or tranaferrad reaeh agreetnent in writing that the creditof anch pereon is satiefaclory to Lender end that the intere~at payable on the sums secured by thia Mortgege ehall be at such rate aa Lender shall l reqyest. If Lendet has waived the option to aooelaste provided 'ui thie paregraph 17, and if Botr~ower's suaceseor in in~ has ezecuted a written assumpti~n agreement sooepted in writing by Lender, Lender shall releaee Borrowez fmm all obligatione nnder thia Mortgage and the ` l~ote. ' _ - i i If I.ende~ ~~cises euch option to aocelerate, L.ende: ahall mail Borrowet notioe of aooeleration in aoourdanae with paregraph 14 hereoL ~ Such notice ahaU provide a p~iad of not ieae than 30 days from the date the notice ia mailed within whic6 Borrower may pay the auma declared ` due. If Borrowe! faila to pay uch sume prior to the e~cpiration of anch period, I.ender may. withont furthet no~ce or deinand on Borrower, ; j invoke any~semedies permit~ by paragraoh 18 h~eof. - : ~ 18. Acoeler~tion; Itemedies. Szcept as provided in paragraph 17 hereot, upon Borrowez's breach of aqy oovenant or ' agrcemeat of Borrower in thie Mortgage, including the oovenants to pa~? whea dae any snme secnred lry thie Mortgage, Leader € ~ prior to aa;eleration ehall mail noticeto Borrower ae provided in paragrap614 hereof specil~ring: (1) the breac6; (2) the action t ~ require~d to cure.snch breac6; (3) a date, not lees than 30 days from tbe date the notice is mailed to Borrower, bp which sncb * ~ breach most be cured; and (4) that failare to cure such breach on or before t6e date speciHed in the notioe may reanlt in % acceleration otthe sams eecured by this ldortgage, foreclosnre by judicial proceeding and sale of the Property. T6e notice ehall ~ further intorm Borrower of the right to reinstate atter aooeleration and the ri~ht to assert in the foreclosure proceeding the ~ ~ non-ezistence ot a default or any other defeuae of Borrorver to aoceleration and foreclosnre. If the breac6 is not cnred on or before the date speciBed in the notice, I.ender at Lender'e option may declare all of the snme secured by this Nortgage to be ~ immediately dne and payable without fnrtherdemand and may foreclose this Mortgnge by jadicial prooeeding. Leader shall be ~ ~ entitled to ooilect insuch proceeding all ezpensea of foreclosure. including, bnt not limited to, reaeonable attorney's fees, and ; costs of docamentary evidenoe, abstracte and title reporta. ~ 19. Borro~ver's Right to Reinstate. Notwilhatanding Lender's soceleration of the suma eecured by this Mortgage. Borrowar ahall have the right to have any prooeedinge begun by Lender b enforce this Mortgage discontinued at any time prior to entry of a jndgment enforcing ~ # this Mortgage i~ (a) Borrower paye I,ender aD eums which would be thea dne ander thie Mortgage, the Note and notes securing flttnre Advanas, if any, had no ea:eleration oocurred; (b) Borrower curea all breaches of aay other covenants or agreemeats of Borrower oontained in ~ this Mortgege; (c) Borrovver paya all reasonable e:penses incurred by Leader in ~forcing the oovenant8 and agrcements of Borrowar aontaiaed in this Mortgage and in enforcing Lendez'a remedies es provided in paregraph 18 hereo~ inclading. bnt not limited to, nawnable ~ ~ attorney's fees; and Borrower takes such a~ction ae Lender may nasonably require to aesun that t6e liea of thia Mortgage, I.euder'e interest ~ in the Property and Bormwer's obligation to pay the suma secared by this Mortgage shall oontinue nninnpaired. Upon euch payment aad cnre 3 ` by Borrower. this Mortgage aad the obiigations eecured hereby ahall remain in full force and eHect as if no aoceleration had occurred, f ~ 20. Awignmeat oi Renta; Appointmeat of Itecefver. Aa additional security hereunder. Borrower h~eby essigns to Lender the reata ~ ~ of the Pr~erty, provided that Borrower shall. prior to aooeleration ander paragraph 18 hereof or abandonm~t of the Property. have the right T c to collect and retain snch rents aa Wey become due and payable. " ~ ~ Upon aooeleration und~ paragraph 18 haeof a~ abandonment of We Property, I.ender shall be entitled to have a reoeiver appointed by a ~ oonrt ~o eoternpon. take poesession of and manage the Property and to collect We rents of the Property, including t6ose past due. All reats ~ ooUe~sted by the recdver shall be ~pplied firat b payment ot the oosta of managemeatof the Propeety and oollection of rea4, inclading. bnt not ~ ~ limited to, reoeiver's fees. premiums on receiver's bonda and reaeonable attorney's feea, end thea to the sams secared by this Mottgage. The ~ reoeiver a6a11 be liable to aooonnt oaly for those nnts adnally received. ~ i ~ ~ i , s ~ - - ' ~D~~~V I ~j ~ f ~ . _ _ . . _4~x. ) - ~ P`.~ '4i ' ' Yl4~n„~-J " - 3' `x"'s . . ~ . ~ ' .~,z .