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Home My WebLink About0561 ~ `1 8. Ip~pectioa. Lender may make or cawe w be made rss~onable entria~ upon end inap~etioiu of the pro~tt~. pwvided that l.e~das shal! give Borrowa notic~~rt~r to any auch inspection specifyiag reawnable cawe therefor related to I.ender i intere~t in the Property. 9. CoAdemnwtloa. '!~e proceed~ o! a~y sward or claim for dama~e~, direct or co~~equentisl, in connection with any aondemnation or other takir~ of We property. or part thereof, or fos rnnvoyance in Geu o[ oondemnation. are hereby awi~ned and ~hall be p+?id to Lender. In the event of s total takinQ oi the Propedy, the proceeds shall be applied b tha sums secured by thi~ Mortgey~8. with tbe esoe~s. if any. paid to Borrower. ln the event of a partiel taking ot the Prop~ty, unlea Borrower and Lender otherwise agree in writing~ there ahaU be applied to tha suau ~ecured by thu Mortgey~e such proportion of the pwcee~ds as is equsl to that pmportion which the amount ot the ~ums secured by this Mort~ege iaunediately prior to the date of taking bears to the fair merket value of the Pmperty immediately prior to tha date oi ' taking. with the balancv of the prooeeci~ paid to Borrower. If the Pe~ope~~y is absndoned by Borrower, or if. after notioe by Lender to Borrower that the oondemnor ottera to make an award or eetde a claiaa for demaga, Borrower faile to respoad to Leader within 30 deys aft~ the date such notice is mailed. I.ender is authorized to coUect and apply the pro~eeds. at Lender a option. either to reatoration or repair of the pmperty or to the suau secured by thiu Mortgage. U~leas I.ender and Bonovr~ otherwise agn~e in writing, any such application of proceeds to principal shall not e~ctend or postpone the due date of the monthly installmenta refFrred to in paragraphs 1 a~?d 2 hereof or change the amount of such inetallmenta. 10. Borrower Not Reteased. E:tenaion of the time for paym~nt or modification of amortization of the sume eecured by thia Mortgage ; granted by. I.end~ to any successor in intereat of Borrower shall not operate to releaee, in any manner, the liability of the original Borrower and Borrow~ s sucoessc~ra in intstes~ l.ende~ ahall not be requi[ed to commence proceedings against such auoceaeor or refaee to e:tend time ! for p~yment or othervriae modify amortization of the sume ei~cund by this Mortgage by reason otany demana made by the original Borrower ; and Borrower a succeaeora in interest. ~ ; 11. Rorbearance by Lender Not a Waiver. My forbearance by Lender in exerciaing any right or remedy hereunder. or otherwise sPfordud by applicable law, ehall not be a waiver of or preclude the e:erciae af any euch right or remedy. The procurement of insuranoe or the peyment of ta~es or other Uena or charges by Lender shaU not be a waiver of Lender a right to aocelerate the maturity of the indebtedness aecund by this Mortgage. 12 Remed~ea Cumulatjve. All remedies provided in this Mortgage are dietinct and cumulative to any other right or remedy under this Mortgage or afforded by law or equity, and may be e:etrise+l concurrendy. independently or anoceesively. l3. 3uccessors and Assigns Bound; Joint aad Several Liebillty; Captions. The oovenant$ and agreements herein contained ehall ~ bind, and the righta hereunder ahall inure to, the respective~auoc,~esaore aRd aasigns of Lender and Borrower, subject to the provieions of paragraph 1? hereof. All rnvenanta and agreements of Borrower ehall be joint and several. The captions and headinge of the paragraphs of thia Mortgage are for covenience only and are not to be used to interpret or define the pmviaions hereof. 1~. Notlce. Except for any notice required under applicable law to be given in another mnnner,.(a) any notice to Borrower pmvided for in thie Mortgage shall be gi~~en by mailing such notice by certified mail addreeeed to Borrower at the Property Addresa or at auch other addrees aa Borrower may deaignate by notice to Lender ae provided herein, and (b) any notice to Lender ahall be given by certified mail, return receipt requealed, to Lender'e addreee stated herein or to auch other addrese as I.ender may deeignate by notice to Borrower as provided herein. Any notice provided for in thia Mortgage shell be deemed to have been given to Borrower or I.ender when given in the manner deaignated herein. 15. U~iform Mortgage; Governing I.aw; 3everability. Thia form of mortgage combinee unitorm aovenants for national use and non- uniform covenanfs with limited variationa by juriediction to oonatitnte a unitorni eecnrity inatrument wvering real property. This Mortgege ahall be governed by the law of the juriadiction in which the Property ia located. In the event that any provision or clauee of thia Mortgage or the Note conflicts with applicable law, such rnnflict shall not affect other provieione of this Mortgage or the Note which can be given eftect without the conilicting proviaion, and to thia end the proviaiona of the Mortgage and the Note are declared to be severable: 16. Borrower's Copy. Borrower shall be furniahed a conformed oopy of the Note and of thia Mortgage at the time of e:ecutioa or after recordetion hereof. • ~ I7. Tranefer of the Property; Aseumption. If all or any part of the Property or an interest therein is sold or transferred by Borrower ~ without I.~xxier a prior written conaent, ezclu~ing (a) the creation of a lien or encumbrance subordinate to thie Mortgage, (b) the creation of a ~ purc!~ase money security intereat for houeehold appliancea, (c) a transfer by devise, descent or by operation of law npon the death oia joint tenant or (d) the gr~wt of any leasehold interest of three years or leea not oontaining an option to purchaee. Lender may, at Lender a option, declare all tho suma eecured by thia Mortgage to be immediatety due and payable. L:ender ehall have waived auch option to accelerate if. prior to the sale or transfer. Lender and the peraon to whom the Property is to be sold or transferred reach agreement in writing that the credit of auch peraon ia satiefactory to I.ender and that the interest payable on the aume secured by thie Mortgage shall be at euch rate as Lender ehall request. If Lender has waived the option to accelerate provided in thia paragraph 17, and if Borrower s successor in interest has executed a wrilten aseumption agreement aooepted in writing by L.ender, Lender shall release Borrower from all obli~ations under thia Mortgage and the ote. If L.ender exercises such option to accelerate, i.ender ahail mail Borrower notice of aoceleration in acaordance with paragraph 14 hereoL Such notice ahall provide a period of not less than 3(1 daya from the date the notice is mailed within which Borrower may pay the aums declared i due. If Borrower fails to pay such sums prior to the expiration of such period, l.ender may, without further notice or demand on E3orrow~, j tnvoke any remedies permitted by pazagra~h iR hereof. ~ ; ~ ~ 18. Acceleration; Remediea Ezcept as provided in paragraph 17 hereof, upon Borrower'b breach of eny ooveaant or ~ ~ a eement o! Borrower in this Mort pay rtgage, Lender E gr gage, including the oovenante to when due any sume eecnred by thie Mo i prior to aa;eleration s6a11 mail notice to Borrower ae provided in paragraph 14 6ereof epecifying: (1) the breach; (2) the aMion E reqnired to cure such breach: (3) a date. not less than 30 daye trom the date the notice ib mailed to Borrower, by which such ~ breach must be cured; and (4) that failure to' cure euch oreach on or before the date specified in the notice may reeult in acoeleration ottl~e auma secured by tkis Mortgage, foreclosure by judicial proceeding and eale of the Property. The notice s6all further intor~n Borrower of the right to reinstate after acceleration and the right to esaert in the forecloeure proceeding the non•e:iatence of a default or any other defet~ae of Borrower to aoceleration and forecloBUre. If the breach is not cured on or before the date epecifed in the notice, Lender at Lender'e option may declare all of tbe suma aecured by this Mortgage to be immediately due and payable without further demand and may torecloae thie Mortgege by judicial proceeding. Lender ehall be ~ entitled to oollect in such proceeding all e:penaes otforecloeure, including. but not limited to, reaeonable attorney's fees, and coete of documentary evidence, abetraeta and tiUe reports. ~ 19. Barrower'e Right to Aeinatete. Notwithstanding I.ender'a acceleration of the auma eecured by thia Mortgage, Borrower ahall have the right to have any prceeedinge begun by Lender to enforce thia Mo~tgage disoontinued at any time prior to entry of a judgment enforcing 3 thie Mortgage if: (a) Bomower pays I.ender all euma which would be then due under t}tis Mortgage, the Note and notee eecuring ~tnre Advancea, if any. had no acceleration occurred; (b) Borrower cures all breaches of any othercovenante or agreements of Boaowet rnntained in - this Mortgage; (c) Borrower pays all reasonable e:pensea incurred by Lender in enforcing the oovenanta and agreements of Borrower oontained in thie Mortgage and in enforcing Lender'a remedies as provided in paragraph 18 hereof, including, bnt not limited to, reaaonable ~ attorney e feea; and (d) Borrower takea such action as Lender may reaeonably require to aseure that the lien of thia Mortgage, I.ender's interest ' in the Property and Borrowe~a obligation to pay the aums secured by this Mortgage ahall oontinue unimpaired tlpon auch payment and cure $ by Borrower, thie Mortgage and the obligations secured hereby shall remain in full force and effect aa if no acceleration had a;curred. ~ 20. Asaignment of Renta; Appointment of Receiver. As additional eecnrity hereunder, Borrower hereby asaigne to Lender the ren~a ~ of the Property, pmvid~ that Borrower ahali. prior to aeoeleration under paragraph 18 hereof or abandonment of the Property, have the right ° to collect and retain euch renta as they become due and peyable. » Upon aooeleration under paragraph 18 hereof or abandonment of the ProperEy, Lender ehall be entided to have a receiver appointed by a ~ wart to entervpon, take poseeeaion of and menage the Property and to rnllect the renta of the Property, including fhoee paat due. All rents ~ collected by the receiver shall be applied fuet to paymenL of the aoets of mana ement of the Pro ~ g perty and collection of renta, fAC~U~1Dg, but not ~ limited to, receivei s fcea, premiums on receiver's bonds and reaeonable attorney e[ees, and then to the suma eecured by thie Mortgage. The ~ receivtr ahall be liable to aooount only far thoee renta artually received. ~ ~ . z~ ~ ~ gooK 289 ~ 558 ~ ~ ~ - - r ;,:r _ _ ~~4;;~ ~""~..~.~,~'~,~f",~~.'~,~~~ ~a~' - ~ y_« ~ y~~°.~.,