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Home My WebLink About0557 ~ . • • • f 8. Inapectioa. Lender uu~y make or cawe to be mads re~wa~ble entrie~ upon and in~pectiooi oithe prop~~,1?.`p~tovided that Lendes shaU i ~ive Bortower notia ptiot to aqy such itt~pectioa ~pecityinR reasonable cauas therefor relstsd t~ Lender'~~in~erest ?n the Propesty. t 9. CondemnaUoa. The pmoeeds of eny award o~ claim fo~ dama~e~, direct or rnn~equential. iti rnnnectio~ with any oondemnation or ~ oth~ takin~ ot the prope~ty. or part thereof. or f~ conveyanoe in lieu of cuademaatioa. are hereby a~ai~ned and ~hall be paid to Lender. In the event oi e toW takin~ of the PeoPertY. the prooeeds ihall be applied to the ~uau ~ecured by thi~ M~a~s. with t~e esosa. if eu?y. i paid to Borrower. ia tbe sveAt of a partial tatin~ of the Prupsr~y, unlea Borrower and lender otherwi~s a~ree in writin~. there ~hep be ~ applied f+o the aum~ aecured by thu Mort~a~e ~uch p~opartioa of We p~oceed~ a~ ii equsl ~o that proportioa wluch the amount o! the ~~u ~ecured by thia Mort~aQe immediately prior to the d~te oi takia~ bears b the fair mark~t value of the Propsrty immediately prior to the date of ~ tatin~. wiW the balanai at the proceed~ paid to Borrowe~. . ~ i It the Property ia abandoaed by Borrower. or J, etle~ notice by Leader to AoROwer Wat the ooademnor oMers to make an a~rard or ~ettle a ' claim for damaga. Borrower faib to re~pond b l.er~der within 30 days aRer the date such notice ie mailed. Lend~ is authorized to coUoct and ~ apply the p~ooeed~. at Lend~'~ option. eith~ to re~toration or repair oi the properiy or to the sum~ ~ec~?red by this Marsgage. Unless Lei?der and 8orrower otherwiee agree in writiug, any such nppGcatioa of ptoceeds Eo principal shall not eactend or po~tpone the due ~ date of the monthly iastallmenta referred to in para~raplu 1 and 2 hereof or change the amount of such instalimenb. ' 10. Borrower Not Releaied. E:tension of the time for paymant or modification of amortiaation of the auma secured by this Motigage i granted by I.ender b any euccessor in interest of Borrower shaU not operete to releaee. i~ any menner. the liability of the original Borrowes end Borrower'a euc~,~esaors in intereek Lender ehall not be required W oommence proceedings against euch sucoeeeor or refuse to extead time ` for payment or otherwise modify amortization of the sums secured by this Mortgage by reaeon of any demand made by the original Bormwa and Bormw~ a succeaeors in interest 11. Forbearanoe by Lender Not a Waiver. My forbearanoe by Lender in esercisiaQ anpriight ot nmedy herennder, ar otherwise a~orded by applicable law. ahaU aot be a waiver of or pnclude the enercise of any such right or remedy. The piocurement of insuranoe or the payment ~f tazes o: othez liens or chargea by Lender shaU not be a waiver of Lender'a right to sooelerate the maturity of the iadebtedne~s secvnd by thi. Mortgage. . 12 Remedies Gtimulatlve. All rPmedies provided ia thia Mortgage an dibtinct and cnmulative to any other right or remedy under this Mortgage or aKorded by law+ or equit,y. and may be ~erci~e+i ooncurrently. indepeadeady or suooessively. ~ 23 SuccBason and Assign~ Bouud; Joint and Severel Liability; Captions. Ths oovenaata and agreementa herein oontained ehall = bind, and the righta 6ereunder shall inure to. the respective suocessors and assigns of Leader and Borrower, eubject to the pmviaione of i paregraph 19 hereof. All rnvensnts and agreementa of Borrowrr ahaU be joinL snd several. The captiona and headings of the paregrapha of thia Mortgage are for covenience only and are not to be usdd to interpret or define the provisions hereof. . 14. ~Iotice. Except [or any riotice required under applicable law to be given in another manner, (a) any notice ta Borrower provided for in thia Mortgage ehall be given by mailing such notice by certified mail addreseed to Borrower at the Property Addrebe or at such other addreas es - Borrower may designate by notice to Lender as prQVide3 herein, and (b) any notice to Lender ahall be given by certified mail, return receipt requested, to Lender e addreae atated herein or to such ather addreee ae Lender may designate by notioe to Borrower as pmvided herein. Any notice pmvided for in this Mortgage shall be deemed to have been given to Borrtrwer or Lender when given in the manner deeignated herein. 15. Uniform Yort~age; Governing Law; $everabiUty. T4~is form of mortgage combines uniform oovenanta for national use and non- uniform covenanta w?ith licpited variationa by jerisdidion to oonatitnte a uniform security ~nstnunent oovering real pmperty.'I~ie Moitgage ahall be governed by the lew of the jurisdiction in which the Property ie located. In the event that aay provieion or clanae of thia Mortgage oY ' the Note contlicte with applicable law, auch oonllict ehatl not aHect other provisions of Wia Mortgage or She Note which can be given effect ~ without the aontUcting provision, and to this end the prnviaions of the Mortgage and the Note are declared to be eeverable. ~ I& Borrower's Copy. 8orrower shall be furnished a oonformed oopy of the Note and of this Mortgage at !he time of execution or after recordation hereof. . _ 17. 'ltiranefer of the Property; Aseumption. If all or any part of the Property or an interest therein i,a sold or traneferred by Borrower wiWout I.ende~s prior arritten conaen~ excludiajt (a) the creation of a lien or encumbranoe sabordinate to thia Mortgage. (b) the creation of a parchaBe moaey security intereat for household applianc~, (e) a transfer-by devise, descent or by operation of law upon the death of a joirtt ~ tenant or (d) the grant of any leseehold intereat of three. years or lESe aot oontaining an option to purchaee. Lender may, at I.ender'a option, ; declare all the suma secured by thia Mortgage to be immediately due and payable. Lendrr ehell have waived auch option to accelerate if, prior to the aale or tranafer, Lender and the peraon to whom the Property is bo be eold or transferred reach agreement in writing that the credit of anch pe~eon is satiafactory to Lender and that the interest payable on the aume secured by thia Mortgage ehall be at such rate as Lender shall requeat. If Lender hae waived the opdon to aocelerate provided in this paragraph 17. and if Borrower'a successor in interest has e:ecuted a w~ritten sesumpdon agreement sooepted in writing by Lender, I.ender ahall release Borrower from all obligationa under thie Mortgage and the Note. • ~ If I.ender e:erci~ee such option to accelerate. Lender ahall mail Borrower notice of acceleration in aooordance with paragraph 14 hereoL Such notice ahall provide a period of not less than 30 days from the date the notice is mailed within which Borrower may pay the eums declared i due. If Borrower faila to pay auch sums prior to the eupiration of nuch period, L.ender may, without further notice or demand on Borrow~r, i invoke any remediea permitted by paragraoh 18 hereof. _ ~ ' 18. Acceleration; Remediea B:cept as pmvided ln paragraph 17 6ereof. upon Borrower'a breach of any oovenant or ~ a~eement of Borrower in t6is blortgage, including the oovenante to pay when due any sama aecured by thie Mortgage, Lender ~ prior to aeceleration ahall mail notlceto Borrower ae pmvided ia paragrap614 hereof epecitying: (1) the breach; (2) the action ~ reqnired to cure such breac6; (3) a date, not lesa thnn 30 days trom the date the notice is mailed to Borcower. by which anc6 ~ breach must be cured; aad (4) that failure to cnre suc6 breach on or before the date specitied in the notice may result in . # acceleration of the eums secured by t6is Mortgage, foreclosure by judicia! prooeeding and sale of the Property. The notice shall furt6er inform Borrower of the right to reinatate after soceleration and the right to assert in the foreclosure proceeding the non-eziateace ot a default or any other defense of Borrower to aoceleretion and fareclosure. if the breaeh ie not cured on or be[ore the date apecified in the notice, Lender at I.ender'e option may declare all of the eume secured by thie Mortgage to be immediately due and payable without furtherdemand and may toreclose this lYiortgage by judicial proceeding. Lender shall be . entitled to ooUect in such proceeding ali ezpenaes ot foreclosure. including, but not limited to, reasonable attorney'e fees, and costs of documentar~ evidence, abstracts and title repurts. ~ ~ 19. Borrower's Right to Iteinstate. NotwithaLanding L.endrr e aeceleration of the anma eecured by thie Mortgage, Borrower ehall have ~ the right to have any prooeedinge begun by I.ender to enforoe thia Mortgage diecontinned at any time prior to mtry of a judgment enforcing ~ thia Mortgage if: (a) Borrower pays I.ender all auma which would be then dne under thie Mortgage. We Note and notea eecnring Future Advanoea, if any, had no aeceleration occurred; (b) Borrower curea aU breaches of any other oovenants or agreemeate of Borrower oonLained in ~ this Mortgage; (c) Borrower paya all reasonable e:peneee incurred by Lender in enforcing the covenants and agreementa of Borrower oontain~d in this Mortgage and in enforcing Lender's remedies as provided in paragraph 1!3 hereof. including, but not limited to, reaeonable ~ attorney's fees; and (d) Barrower takes ench action aa Lender may reaeonably rec~uire to assure that the lien of thia Mortgage, Lender'a interest = in the Property and Borrower s obligation to pay the sums eecured by this Mortgage shall oontinue unimpaired. Upon euch payment and cure ~ by Borrower, thie Mortgage and the abligationa secured hereby ahall remain ia fuU force aad effect ae if no aooeleration had occurred. ~ Z0. Assl~nment of Rents; Appointment of Receiver. As additional eecority hei~eunder, Borrower hereby aasigns to Lender the r~ts ~ of the Pro~perty, provided that Borrower ahall, prior to aooeleration nnder paregraph 18 hereof or abandonment of the Property, have the right ; to oollect and retain such rents ea they become due and payable. ` Upon aoceleration under paragraph 18 hereof or abandonment of the Property, I.ender ahsll be entitled to have a receiver appointed by a * ~ oonrt to enter~pon, take possession of and manage fhe Property and to oollect the renta of the Property, including those past due. All rents - ~ aollected by the eeceiver ahall be applied 5rst to payment of the oosts of managemeat of the Peoprrty and collection of renta, inclnding. bnt not . ~ limited to, receiver's fees, preminms on receiver's bonds and reaeonable attorney's feea, and then to the euma eecured by thia Mertgage. The ~ receivet ahsll be liable to aooount only for thoee rents actually reoeived. ~ . ~ ~ ~ : ~ eooK 289 ~c~ 554 ~ ~ ~ ~ 1~ ~ : - ~ ~ _ ~ z~ ~ _ - ~ ~ ~ ~ x ,fi... ~ < - - _