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HomeMy WebLinkAbout0939 { / ' ~ / \ ~ ~ 8. Iaspectioa. LeAda aWr make oc ci?u~ b b~ made rwoaabl~ entriM upoa and in~p~cti~u oithe peopKty. provided tl~~t I.ead~ ~h~ll ~iw Horrnwe~ aotia p~ios to w? ~~D~~ ~ rea~o~aabb caua~ tharefar related to Lendes'~ interast in tbe Property. 9. Condemaation.lUe prooNd~ of any ~~vard or claim tor d~oaa~a~. direct or o~~u~tial. ia ~nnectioa wiW ~n,y oondemnatioa a~ os6et tvdns P~P~U?. a~ part ther~ot. os tas oonwyaaos in lien oi oond~aci~tiion. us hersby uas~d and shaU be paid to Lsader. In the event ot a totai taEins ot tbe Pe~opaty. W~+ psooqed~ s~?~ll b~ appli~d b t~ wrw eecared bY Wi~ Matsa~s. ~?iW tl~s e~oeM. it anY. rrower. In the svent o[ e 'd telci of t2~e . nnle~ Bqe~owee and I.e~d~c othsrwi~s +?Qne in rvritin~. these shell bs ~ aPVUed to the sum~ ~scnred by ~+~e iu u eq ~s~tred by tbi~ Mat~a~e immediately ptios to th~ dab of takia~ bean Zo We fais mukd v~lue of the P[opeYtY iminediatelY D~rior to W~ date of 1a1tinQ.'aiW We baLnoe a[ the prooeeds psid to Bosrow4T• . ~ If tbe Proputy i~ ab~ndoned by Ba~rower. or i~ alte~ noiia~ by I.end~ to 8osrower tlu?t the oonde~nnar offe» to make aa sward os ~ a claim tor damaQe~. Borro~rer fail~ to respond to I.e~der within 30 day~ elt~r the date ~~ch notios u mRiled. Lender iu antlwrir~ed to oollect aad - apply tbs pcooeeds, at I.ead~'~ option. dthar to redoratiou os repair of the p~ope~ty ar to the ~na~ ~ecue+ed 1~Y ~~~t+~ Unlas Lender snd Borcow~ oeberwi~e a~ree in writina. any ~nch applicatioa of procbedato prindpal shall not eztend ac postpone the dw date of the monthly irutaliments ref~red b ia paratraptu 1 sad Z hareof or ch~n~e tl~e amonat oi mch iasWlments. 10. Borrower Not Relea~ed. Eztension of the time for paymant ~ modi5cation of aanortizadon oi tbe sum~ ~ecueod by t6i~ Mo~ct~e~e ~ranted by I~etzder to any sucarsor in iat~at of Boreower shall uot operate to relea~e. in any manaer. We liability of the ori~inal Borrower and Borrower's suocrssor~ ia iat~rest I.ender shaU not be required b oommenoe pmoeedinga a6ainat such sacceseor or refuse t,o e~itend time for pa~yment oi otherwi~e madify amoetisation of the sums sa~red bY thio Mortgage by seaeon a; any d~and madeby the originsl BonowQt and Borrower s enoceewn in interest. ~ 11. Forbewranoe bp Lendsr Not a Weiver. Any forbearaace by Leader u? e~cerasing any ri~ht ~ nmedy bereunder. a~ oWeiwiss afforded by appiicsbk lew. shalt nd be a waiver oto: prednds the ezaci~e oi any such right ~ reinedy. The procuremeut of uu~uaaoe oc the payment of tue~ or other liew ~ charQes by Le~der ahall pot be a waiver of Lsader's r~Lt b aooelerate tlie matnrity of.the indebtedaea ~ecund by this Mort~a6e- . 12 Itemedie~ G~ma4?tive. AU remedie~ pcovided in this Mart~ags are ~stiiad ead cvmalative to ahy oWez right or remedy nnder thi~ Mottgage or egarded ~r la~r or eqnity. aad may be e~sacia~l ooacnrsently. inde~d~tly os suoossdvdy. ~ 13 Snooesaors nud Assipu Hoand: Joint and Several I.iabiliq?: Captions. The oovenanta and agreements herein oontained a6a11 bind. and the tigata hereundee shaU innre to. the nspec~tive ancoe~wn aad e~ien~ of Leader and Bonower, subject to the proviaiau at paraSraP1~ 17 hereot AU oovenaats and agreementa of Borrosver ahall be joint aad ssveral. Z1?e captions aud headings ot the parsgr6ph~ ot this MaR~age sn far ooveaieaae ody and are s~t to be used to inLerpret or deSne the provision~ hereoL . 14. Notioe. Except for any notioe required under applicaWe laMr to be given in another manner, (a) any notioe to Borrower provided for in this Mortgage shall be giveA by mailing si~ch notioe by oertified mail addrersed to Bore~ower at We Propesty Address or at snch other address a~ Barrowa may designate by notice to Leud~ aa p~mvided herein, and (b) any noti~e to Lender ~hall be given by oertified mail. ratnrn reoeipt e'89uest~d, to Lender's addraa stated herdn or to an~ other address ab Lender may designate by notioe to Borrower as provided hazeia Az?Y notice provided for in this Morfgage shall be dcemed to have be~ given to Bosrower or I.end~ when ~iven in the manner daignated herein. I5. Uniform Yort~ag~ Governina I.aw; Severability. Thia form of mortgage combines nnifosm oovenants for natioaal ose and n~- unitornn oovenants with timited variatious by jnriadidion to oonstitnte a uniform security instrumenc oovering Teal p~op~rty. This Mort~a~e shall be governed by We law of We jnrisdidion in which the Property ia located. In the evmt that any provieion or danse of thia Moart~age or the Note conflicfa with applicable law. such canilict ahaU not affect oWez ~ovisions of thia Mortgage or the Note which can be given effad wiWont We oonilicting pmviaion, and to this ~d the provisions of the Mortgage and the Note are declared to be severable. - 1& ~orro~?er'~ Copr. Bosrower shall be furniahed a ooaformed oopy of the Note and of tbis Mortgage at the time of e:ecution or after reoordation hereoL • ' • 17. 'Itirensier oi tha ProPerts': Aawmpdon. If all o: any part of the Property or an iat~erest thereiu is wW or tranaferred by Borrowar - withont L,ende~a priar written oonsenf, e:duding (a) the creation of a lien or encambranae anbordinate to thia Mort~age. (b) the creation of a pnrcliase money aecurity interest for honsehold applianoes. (c) a traader by devise, desoent or hy operation of law npon the death of a joint ca~anc or (d) che grant of any le~eehold inceresc of t~,ree years or less noe aonsaining an option co pnrchase. I~eader may. at Leader's option, declare all the wms s«:nred by thia Mortgage to be immediatelY ~due and payable. I.ender ahall have waived sach optioa to aooekrate if, prior to the sale or transfer. Lender snd the pereon to whom the Propaty is fo be eold or transferred reach agreem~?t in writing that the creditof sw~ " peraon is satiefact~ory to L.mder and that the inLerest pa~yable oa the sums secu.red by this Mortigage_ shall be at auch rate as Leader shall ~ request. If I.ender has waived the option to aooelerate provided in this peragrapb 17. and if Borro~rei's snocessor in intere~t hes euecuted a ~ writt~ aasumption agreement aooepted in writin8 by Lender, i.eader shall release Borrower 5rom all obligatioaa under this Mortgage and the ~ Note. ~ ; If Lender ezaciees snch option to acoelerate. I.ender ohall mail Borrower notioe of aeceleration in aooordance with ParaBrePh 14 hereoL ~ 3uch notice ahall provide a period of no~ leea than 30 days from the date the notice is mailed within which Borrower may pay the aums dedared ~ ~ due. If Borrower fails to pay such suma prior to the ap'vation of such periad. I.ender may. without fi~rtha notioe or demand on Borsuwer, invoke any remediea permitted by paragrauh IS henaL ~ 18. Acoeleration; Remedies. E:cept as provided in para~raph 17 6ereof, upon Borrower's breach of an~ ooveaant or ! agreement of Borrowet in this MortBaBe. inclading the ooveaants to pap when dne aay snms s~cared b9 this 1[ort~a~e.I.eader ~ prior to aooeleratlon ahall mail notioe to Borrow~er a. provided in paragraph 14 hereof spedtying: (li the breach; (2) the action reqaired to wre snch breacb: (3) a date, not leas than 30 d4rs tmm t6e date t6e notice b mailed to Borrower. bY wh~h sach bresc6 mast be cured; snd (4) that failnre to care wch breach on or before the date speciRed in the notioe may re~alt in acoeleration o! t6e auos ~e~cured by this Mortgaae. foreclosure b~? 3ndicial prooeeding and ~ale of the Property. T6e notioe sball further inform Borr,ower of the ri~ht to reiiutate after aooeleration and the ri~ht to assert in the fareclosure proceedin~ the noo-ezistenoe of a d4+tenlt or any other defense of Borrower to ~celeration and foreclosure. If the breach is not. cured on or before the date specified in the notk~e, Lender at I.ender's option msy declare all of t6e sume secured by this Mortga~e to be immediately dne and payable without further demand and mqy foreclose this Mast;a~e b}~ jadicial pr~ooeeding. Le~?der ehall be entitled W collect in snc6 prooeeding all ezpenaes of foreclosnre, incladin~, but not llmited to, reasonable sttorney'e fces, and costs of documentary evidence, ab~tracts and title reporta. 19. Borrower's Right to Reinstate. NotwiWatsndin8 I.ender's accelerntion of the snnos secured by thia ModBage. Borroarer ahell have the right to have any prooeedinga begun by Lender to eaforce this Mortgage dieoontinned et any time prior to eatrq of a judgmeat enforcing thia Mortgage if: (a) Borrower pays Lender all svms arhich wonid be th~ due nnder thia Mortgaee, the Note and notea secnring Fbtnre Advancea, if any. had no acceleratiom occurred: (b) Boreowu c~res all breaches ofany other oovenana or egnemenrs of Borrower coneaiaed in ~ this Mortgege; (c) Borrower pays all reaeot?abk aper?ses incurred bY Lender in enforcing tbe covea~nts and agreementa of Borro~r~ ~ oontained in this Mortgege and in eaforcing Lender'a remedies as providea in paragraph 18 hereo~ including. bnt not limited to. reasonable ~ attocney's fees; and (d) Borrower takes snch action as I.ender may reasonably reqnire to assun that the liea of this Mortgage, I.eadds interert ~ in the ProperEy and Bor~owers obligation to paq the aums ~ecured by this Mortgage shall oontinne nnimpair~d. Upon snch paymen! and c~+e ~ bY Borrowa, thia ~Vlortgage and the obligationa secnred herebY ahall remain in fnll foroe and e8ect as if no aooeleratioa had oocurred. ~ 20. Assi~nment o! Renta; Appointment of Iteoeivee. Aa edditional secaritY hereunder. Bormwer hereby aeaigns to I.euder the renta ~ oithe Property. provided that Borrower shall, prior to aaxlesration ander paragraph 18 hereof o~ abendonm~t of the Propaty. have the ri~ht to coUect and retain such rents es they become due aad payable. . Upon aooeleration unda p~ragraph 18 hereof or absndonment of the Property, Lender shall be entided to bave a raoeiv~ appointed by a ouurt b enter~pon, take poskasion of and manage tbe Property and to collect the rents of the Propeity, including those past due. All reats ouUected by the reoeiver shall be applied fust to payment of the oost~ of management of the Propaty and ooUection otreata, inclodins, bat not limited to, receiver's fees, premiums on noravds bouds and nawnable atbrney's fee~. and then to the ~nma ~ecur~ed b}? this Mortgag~ The reo~ver ahall be liabk to aooonnt oaly for ihwe renb adually reoeived. ~ ~ . ~ - aoox 289 P~E 928 ~ . ~_i~_ . . " . ~ ~ f e. . ...s 'L~ _ ~y~ ~ - - - _ e~+,% _ " _ ~ ' n~:.-'J ' ~ ' ' ' 4h~:.µ " ' . _~'q";