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Home My WebLink About0373 3 ~ • . , • • ~ ~ • ~ ' 1 8. In~peMioa. I.eadee m~y make or cawe b be mads ceawnable eatrie. upon +o?nd i,~yectiow of ~he pmper~y~ pmvided u,at l.ender •hall ~ Qive Borrower aotice prior ~o any ~uch in~pectio~ sPerifYir?B ~easonable cause therel~ telated to Leeder}.u~,tteat in the Property. ~ 9. Coademn~?don.'l~e prooeeds of aay award or claim Lor dama~e~. dirert or comequential. in connection with aqy ooademaation or , othe~ takin~ of the pmp~ty. ~ put Weraof. or fo~ conveyenca in lieu of oondemnatioa. ars hereby assigned and ahall be paid to I.eader. ~ In the event of s total takin~ oi the P~opeity. the proceeds shap be ap~lied to the suau ~ecured by thia Mort~a~e. aith the exoess. if eny, paid to Borrower. In the eveat of a partial takit~ of the Proparty. unleaa Borrowez and I.end~ oLherwi~e a~ree in ~r~itin~, there ahaU be ~ appUed to the suau secured by thu Mortgage such proportion o! tbe prooeeda as ia eqnal b that proportion ahich the amount of the ruau ~scured by this Mort~age immediately psior to the date of talon~ bears to the fair market value of We Property ia~mediately p~rior b the dete oi taiung. with the balsnea of the prooeeds paid ta Borrower. If the Propert,,y u abaadoned by Borrowe~r. or if. aRer notice by LeAder to Borrower that the oondemaor otfers to meke au award or rettle a claim for demage~. Borrower fails to respond to Lender within 30 daya sfter the date such aotica is mailed, Lender ia antborized b ooAect and apply We prooeeds. at Lende~'a option, eiWar to re~toration or repair of the pmpes4y or b thasuma secured by this Mortga~e. Unlesa Lender aad Borrowr~ otherwise agree ia writing. any such applicatiop of pmceeds to principal ~hall aot extead ~r postgone the due date of the month~y installmeats nferred ta in paragraphs 1 and 2 henof or change the aaaunt of wch instaUmeata. 10. Borrower Not Released. Extension of the time for paym~nt or anodification of amortization of the sums eecured by this Mortgage granted by Lender to any succeeaor ia intereet of Borrower shall aot operate to rel~se, in any manner, the liability of the original Borrower ' and Borrower's succeasors in iatereet Lender ahaU not be required to oommenoe prooeedings against such succeesor or nfuse to e:tend time for payment or otherwise modify amortization of the aume eecured by this Mortgage by reasa? of any demand made by the otiginal Borrower and Botrrower a auccessora in interesk 11. Forbearanoe by I.ender Not a Waiver. My forbearance by Lende~ ia ea~ercising any right or remedy here~nder. or otherwise a~orded by applicable law, shall not be a waiva of or preclude the e~tercise of any such right or r8mee~y. The procurnment of insuranae or We - paymeat of tazea or othex liens or chargee by I.ender eEhall aot be a waiver of I.endefs right tfl aocelere?te the mabuity of the indebtednesa secured by thia Mortgage. ~ 12 Remedie. Gtimuladve. All remedies pmvided in thia Mortgage an diatinct and camulative to any other right or nmedy nnder thie Mortgage or afforded by la~r or eqnity, SAd ~18J/ bR CZCiC16Cf~ OOIICL[lCALI}I. indepeadently or suooeeaively. 13 3ucoeesors and Aasigns Bound; Joint and 3everal Liebility; Capdons.lLe oovenante and agreementa herein oontained shall bind, and the rights hereunder ehall inure to. the respective aucceeeors and assigns of Lender t?nd Borrower. subject to the proviaions of paragraph 17 liereof. Ali rnvenants and agreements of Borrower shaU be joint and several.'l~e captiona aad headinge of We paragraphs of this Mortgage an for covenience only and are not to be ueed to interpret or de5ne the provisione hereof. 14: Notice. E:cept for any notice required under applicable law to be given in anothe~r manner. (a) any notice to Borrower provided for in thia Mortgage ahall be given by mailing such notice by certified mail addre~eeed b Borrower at the Property Addreea or at such other addreea as Borrower may deaigaate by notice to I.ender as provided herein. and (b) any notioe b L.ender ehaU be given by certi5ed mail, repua receipt requeated. to Lend~ s addrees atated herein or to ench other addr~s ae Lender may designate by notice to Borrower as provided herein. Aqy notice pmvided for in this Mortgage shall be deemed to have been given to Borrower or I,ender when given in the manner deeignated herein. t 15. Uniforta Mortgage; Governing I.aw; 3everabillty. 71iis form of mortgage combinee uniform oovenants for national uee and non- uniform covenante with limited variationa by juriedidion to oonetitute a uniform eecurity instrument covering real pmperty. Thie Mortgage shali be governed by the law of the jurisdiction in which the Property is located. Ia the event that any proviaion or cla~e of this Mortgage or the Note rnntlicta with applicable law, auch contlict shall not affect other pmviaiona of thie Mortgage or the Note which can be given effect withont the oonflicting provision, and to this end the provisiona of the Mortgage and the Note are declared to be severable. 1& Borrower's Copy. Borrower ehall be furniahed a oonformed oopy of the Note and of this Mortgage at the time of aecntion or after recordation hereof. 17. Transfer of the Property; Aseumption. V all or any part of the Property or an interEat therein is eoW or transf~red by Borrower without Lender's prior writt,en ooneent, ezcluding (a) the creation of a lien or encumbrance aubordinate to Wia Mortgage. (b) the creation of a s purchaee money security intereat for houaehold appliances. (c) a tranafer by devise, deeoept or by operation of law upon the death of a joint tenant or (d) the grant of any leseehold intereet of three years or leas not oontaining an option to purchase. Lender may. at Lendefs option. declare all the enma secured by thia Mortgsge to be immediately due and payable. Lender ahall have waived such option to aocelerate if. prior ` to the sale or tranafer, I.ender and the peiaon to whom the P[operty is to be eold or transferred rEach agreement ia writiag that the credit of euch ~ person is satisfactory to Lender and that the intereat payable on the sume sec+~red by this Mortgage ahall be at auch rate as L.ender ahall request. If I.ender has waived the option to accelerate provided in this paragraph 1T. and if Borrower's suc~ceseor in intereet has ezecuted a written assumption agreement accepted in writing by Lender. I.ender ehall release Borrower from all obligations under this Mortgage and the Note. - ~ - ~ If I.end~ ezezcisea such option to acoelerate, i,ender shall mail Borrower notice of aooelezatioa in aocordance with paragraph 14 hereof. ~ Snch notice shall provide a period of not less than 30 days from the date the eotice ia mailed within which Borrower may pay the sume declared ~ due..If Borrower faila Lo pay such auma prior to the pxpiration of auch period, Lender may, without further notice or demand on F3orrower, j ' invoke any remediea permitted by paragraoh 18 h~eof I8. Acceleration; Remedies. Ezcept ae provided in paragraph 17 hereof, npon Borrower's breach of any oovenant or ~ agreement ot Borrower in thie Mortgage, inciuding the ooveasnts to pay when due any sams secured by thie Mortgage, Leader prior to aa:eleration shall mail notice to Borrower ae pmvided in paragraph 14 hereof epecifyiag. (1) the breach; (2) the action ; required to cure snch breac6; (3) a date, not lees than 30 days from the date the notice ia mailed to Borrower. by which snch 3 breac6 most be cured; and (4) that failnre to cure such breach on or before the date specified in the notice maq result in acceleration of t6e sums secured by this Mortgage, forecloaure by judicial proceeding and sale of t6e Property. T6e notice ehall further inform Borrower of the right to reinetate aRer soceleratton and the right to aeeert in the foreclosnre proc,eeding the non-ezietence of a default or aqy other defense of Borrower to aoceleration and forecloeure. If the breach ie not cared on or _ before.the date apecified in the notice, Lender at Lender'e option may declere all of the sume secured by thie Mortgage to be immediately due and payable without further demand and may foreclose thie Mortgage by judicial proceeding. I.ender ehall be entitled to oollect in snch proceeding all ezpenaes of forecloaure, including, bnt not limited to, rea8onable attorney's fees. and costs of documentary evidence, abstracts and title reporta. 19. Borrower'e Right to Reinetate. Notwithstanding Lender'e aoceleration of the sums eecured by thie Mortgage, Borrower ahall have ~ the right to have any prooeedinge begun by L,ender to enforce thie Mortgage dieoontinued at any time prior to tntry of a jndgment enfot~cing this Mortgage if: (a) Borrower paye Lender-all auma which would be then due under this Mortgege, the Note and notes eecuring Fbture Advanoes, if any. had no aoceleration ovcurred; (b) Borrower cures all breschea of any other covenants or agreementa of Borrower contained in this Mo~gage; (c) Borrower paya all reasonable eupenees incurred by I.ender in enforcing the oovenants and agreemente of Borrow~ oontained in this Mortgage and in enforcing Lender's remedies as provided in paragraph 18hereof. inclnding, but not limited to. reasonable ~ attomey's feea; and (d) Borrower takea such action ae Lender may reasonably require to aasure that the lien of thie Mortgage, Leader's interest - ~ in the Piroperty end Borrower's obligation to pay the enme aecured by this Mortgage ahall oontinue unimpaired. Upon such payment and cnre by Borrowez, thia Mortgage and the obligatione eecured hereby ahall remain in full force and effect ea if no aoceleration had.occurred. ~ Z0. Assignment of Rents; Appointment of Reoeiver. As additional eecurity hereunder. Borrower hereby asaigne to I.ender the rents ~ of the Property. pmvided that Borrower ahaU, prior to acceleration under paragreph 18 hereof or abandonment of the Propezty. have the right ~ ~ to colled and retain auch renta as they become due and payable. ? ~ Upon acceleration andez paragraph 18 hereof or abandonment of the Property, I.ender shall be entitled to have e rectiver appointed by a oourt to enterupon, take poseeeeion of and manage ihe Property and to oollect the rente of the Property, including thoee paat due. All rente ~ oollected by the receiver shall be applied firat to paymeat of the ooeta of management of the Property and oollection of renta, inciuding, bnt not limited to. receiver's fees, premiama on reoeiver a bonda and reasonable attorney~e fees, and then to the enms eecuied by this Mortgage. T6e ~ reoeiver ahall be liable to acoount only for thoee rents actnally received. ~ ~ - s ~ OR ~ so~287 ~c~ 37~ : . ~ `ix- ;~=t.a~ 3 ~ _ - - " _ ~ _~3€. "-z.,'"'.~ .r;.;r~z~''~i~"^ a,r ~-zs'~, ~ ~ ' _ . . _ _ _ - , _ _ . . _ _