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Home My WebLink About0600 8. IaspeMlon. Leader may make or cause to be made re~wnable eatrie~ upoa and 'uupections of the property, pmvided that Lender shall give ~orrower notice priot to any ~uch uupectioa spocityinQ reawnable cavse the:efoz related to Lcnde~'~ intet~t in the Property. 9. Condema~?don. The proceeds of any award or claim tor dama~a. direct or oor~e4uential, in connection with any oondemnation or other tekin~ oI fl~e pmperfy. or part thereot. or f~ conveyRnoe ia li~u of oondemn~ttioa. are hereby a~signed end shall be paid to Leader. Ia the eveAt of a total tskinQ o! the'Propsrty. the proceed~ shall be applied to the suau ~ecured by this Mortga~e, witA the asce~s, if any. : paid to 8orrower. Ia the avent of e psrtial takiag of the Property. unle~s Borrower and Lender othetwi~e agres iA writin~. there shaU be applied W the sums secured by this Mo~aQe such proportion oi the pmceeds as is equal b that pmp~rtioa which the amonnt of the sums ~ secured by this Mort~a~e immediately prior b the date oi talcing bea» to the fair markd value of the Propady immediately prios to the dab of , takin~, with the balanca of the procead~ paid to Bo~e~ower. _ If W e Prupdrty is abaado~ed by Bormwer. or if. aRer notice by Lende~r to Borrower that the aoademnor o~en to make an award or settle a ~ claim for dameQe~, Bor~ower fails to napoad w Lender within 30 dayn atler the date such aotioe i~ mailed. Lend~ is authorized b oollect and app~y the prooeeds, at Leader'~ option. either to reabration or repair of the property os eo the sums ~ecured by this Mortgage. . Ualess Lender and Borrower otherwise agree in writing. any ~uch application of pe~oceeds b principal shaU noi estend or poetpone the due date of the monthly uutallments referred b in paregraphs 1 aad 2 henof or change the amount of snch installments. 10. Borrower Not Relea~ed. E:tenaion of the time for paymant or modiAcation ad' emo~tization of the auma eecured by this Mortgage • ~anted by Lender to any euocessor in intenat of Borrower shaU not operate to release. in any manner. the liability of the origiaal Borrower ) and Borrower's succeaeors in interesL. I.ender shall not be required to aommence pmceedinga againat auch auccessor or refuee to eztend time for payment or otherwise modify amo?tization of the suma secured by thia Mortgage by reaeon of any demand made by theoriginal Borrower and Bormwer e succeeaors in interes~ ~ 11. Forbearanoe by Lender Not a Waiver. My forbearenoe by Leader in ezerciaing any right or remedy herennder, or otherwise afforded by applicable laa, ahall not be a waiver of or preclude the e:erciee of any such righi or remedy.'1'he procurement of insaranoe or the . payment of tezes or other liena or charges by Lender ahaU not be a waiver of Lender's right b aooelerate the maturity of the iodebtedneaa aecured by this Mo=tgage. ~ 12 Remedles Cumulatlve. All remedies provided in this Mo~tgage are diatiact and cumulative to any other right or remedy nnder thia Mortgage or afforded by law or equity, and may be ~ercise~i ooncnrrently. independeady or suocessively. r 13 3ucxeasors and Assigns Bo+u~d; Joint and 3everal LiabUity; Csptions. The covenants and agreemeata herein oontained ehall ~ bind, and the rights hereunder ehall inure to, the respective aucc~eseors and assigna of Lender and Borrower. eubject to the proviaions of 3 pa:agraph 17 hereof. All covenante and agreements af Borrower shall be joint a~d eeveral. The captiona and headinga of the paragraphs of = thia Mortgage are for covenience only and are not to be ueed to i~terpret or de5ne the provisione hereof. 14. Notice. E:cept for any notice required under applicable law to be given in another manner, (a) any notice to Borrowez pmvided for in ; thia Mortgage shali be given by mailing such aotiee by certi6ed mail addressed to Borrower at the Property Addreae or at auch other addreea ea • Borrower may deaignate by notice to [.ender ae provided herein, and (b) any notice to 1.ender ahall be given by certified mail, rebun receipt ' requeated,~ to I.ender'a addreee atated herein or to euch other addreea as I.ender may deeignate by notice to Borrower aa provided herein. Any notice pmvided for ia thia Mortgage ahall be dcemed to have been given to Borrower or Lender when given in the manner desigaated herein. - !5. Uniform Mortgage; Governing I.aw; 3everabillty. This form of mortgege rnmbines unitorm oovenanta for national uee and non- , uniform oovenants with limited variationa by juriediction to oonntitute a unifornu eecurity inatrument oovering real property.'I4~ie Mortgage , sha11 be governed by the law of the juriediction in which the Property is located. In the event that any provieion or clauee of this Mortgage or s the Note c6ntlicts with applicable law, auch rnnflict aha11 not affect other proviaiona of this Mortgage or the Note which can be given effect without the oonflicting provision, and to this end the pmviaiona of the Mortgage and the Note aie declared to be aeverable. ~ 16. Borrower'e Copy. Borrower ehall be furniahed a conformed oopy of the Nole and of thia Mortgage at the time of ezec~tion or after recordation hereof. 1T. Tranefer of the Property; Assumptlon. If all or any part of the Property or an intereat therein ia eold or transferred by Borrower without Lende~'e prior written conaent, ezcluding (a) the creation of a lie~ or encumbrance eubordinate to thia Mortgege, (b) the creation of a • purchaee money eecurity intereat for houaehold applianoea, (c) a bransfer by devise, descent or by operation of law upon the death of a joint tenant or (d) the ~ant of any leaeehold intereat of three yeare or lese not containing an option to purchaee. Lender may, at I.ender'e option, declare aU the suma eecured by thia Mortgage to be immediately due and payable. Lender ehall have waived auch option to accelerate if. prior to the sale or tranafer, Lender and the person to whom the Property is to be sold or tranaferred reach egreemeat in writing that the credit of such person ia eatiafactory to Lender and that the intereat payable on the sums secured by thie Mortgage ehall be at auch rate ae I.ender ahall request. If Lender has waived the option to aocelerate provided in this paragraph 17, and if Borrower'e sueceesoi in intereat hae e~cecuted a i written aseumption agreement aocepted in writing by I.ender, Lender ehall release Borrower from all obligationa underthis Mortgage and the ~ Note~ ~ If I.ender e~ercisee auch option to accelerate, Lender shall mail Borrower notice of aooelecation in aocordance with paragraph 14 hereoi ~ Such notice ahall provide a period of not lesa than 30 days from the date the notice is ff,ailed within which Botrower may pay the sume declared ~ due. If Borrower fails to pay auch sums prior to the expiration of auch period, Leader may, withoat fnrther notice or demand on Iiorrower. i invoke any remediee petmitted by paragra~h 18 hereof. ~ ~ 18. Acceleratioa; Remedies. Ezcept as provided in paragraph 17 hereof, upon Borrower's breach of any oovenant or ~ agreement of Borrower tn t6is Mortgage, including t6e oovenante to pay when dne any gums secured by this ldortgage, Lender prior to acceleration shali mail notioe to Borrower as provided in paragrsph I4 hereof epecifyiug (I) the breach; (2) the sction ~ required to cure such breac6; (3) a date, not lees t6an 30 days from the date the notice ia mailed to Borrower,.by which sach ~ breach must be cured; and (4) that failure to cure auch breach on or before the date specified in the notice may result in accelera[ion of the sums secured by this lYiortgage, torecloaure by judlcial prooeeding and eale of the Property. The not~ce shall further inform Borrower of the right to reinstate after. soceleration and the right to aeeert in the toreclosure proceeding the non-ezietence of a default or any other defenae of Borrow~r to soceleration and foreclosure. If t6e breach is not cured on or before the date apecified in t6e notice, Lender at I.ender's option may declare~all of the sume secured by this ~ortgage to be immediately due and payable without further demand and may forecloae t6ie Mortga~e by judicial proceeding. Lender ehall be entitled to collect in such proceeding all e:penses of forecloeure, including, but not limited to, rea8oaable attorney's fees. and coste of documentary eyidence, abstracte and title reporte. ~ 19. Borrower'e Bight to Reinstate. Notwithatanding Lender a ecceleration of the aume eecured by thie Mortgage, Borrowerahali have ~ the right to have any proceedings begun by L.ender to enforce this Mortgage discontinued at any time prior to entry of a judgment enforcing thie Mortgage if: (a) Bon+ower pays Lender all sume which would be then due nnder this Mortgage, the Note and notes securing Future ~ Advancea, if any, had no sooeleration occurred; (b) Bonower curea all breaches of any other oovenanta or agreements of Borrower contained in ~ this Mortgage; (c) Borrower paya all reasonable. e~pensea incurred by Lender in enforcing the oovenante and agrn.emente of Borrower ~ ~ oontained in this Mortqage and in enforcing Lender e remediee aa provided in paragraph 18 hereof, including, bnt not limited to, reaaonable { ~ attomey's feea; and (d) Borrower takes such action as Lender may reasonably require to aseure that the lien of thia Mortgage, Lender'e interest ~ in the Property and Borrowe~e obligation to pay the auma eecured by Lhia Mortgage ehall continue unimpaired. Upon auch payment and cnre - by Borrowa, this Mortgage arul the obligations eecured hereby shall remain in full foroe and effect ae if no acceleration had ocxnrred. ~ 20. Assigament of Rents; Appointment of Receiver. As additional security her~uider, Borrower hereby aeaigne to I.enda We rmta ~ F~ of the Property, provided that Borrower shall, prior to aoceleration under paragraph 18 hereof or abandonment of W e Property. have We right to colled and retain euch rcnts as Wey become due and payable. Upoa aoceleration under paragraph 18 6ereof or aba~idonment of the Property. Lendet ehall be entitled to have a receiver eppointed by a conrt to eaternpon, take poeaeeeion of end manage the Propcrty and to collect the rents of t6e Property, including tho0e paat due. All rente oollected by the reoeiver ehall be applied Cust to payment of the oosts of management of the Propecty and collection of rente, including. but not limited to. reoeiver'a fees. premiuma on receiver a bonda and reasonable attorneyi e fees, and then to the eume secured by this Mortgage. The receiver shall be liabk b aooount only for those rents actually received, ~ _ I ~ ~ $~~K288 ~ 5~ f ~ _ _ a...,~~ _ .~:s~~