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HomeMy WebLinkAbout0063 H. Insuectlon.l.endermavmt?Iceorcnuxetulx~mndeteatu?nahleentrinnuMnn ~inonw•tinnp~~~~l~un?..ru.?~v .•'a...+~~;M::^^~~:~ti~:: ' r' ' • r!^ • give t~rrower noticr prior to any auch inepectiun apecifying reaeunuble cause the~for ~elated to I.endrr's interest in the Property. 9. Condemnatiun. The pr«~eecfa uf xny award or claim for damages, direct or cuneequentixl, in connection with any condemnation o~ other taking of the property, or part thereot, or for conveyance in lieu of condemnatiun, are he~eby aae3iK~ed and ahall be paid to I.ender. In the event of a tota) tuking of the E'rope~ty, the proceecie ahail be applied to the suma secured by thie Mortgage, with the exceee, if any, paid to Horrower. In the event ot a partial taking of the Property, u~leaa Borrower and I.ender otherwise ngree in writing, the~e shaU be ~pplied to the sums eecumd by thie Mort{tuge euch proportion of the proceede as ie equal to that proportion which the amount of the sume secured by this Mortguge immediately prior to the date of tttking beara to the fair ma~ket value of the f'roperty immediutely prior to the date ot taking, with lhe bnla~ca of the ptooeecls paid to E3orrowe~. • If the f'roperiy is abandoned by Borrower, or if, after notice by l.ender to Borrower that the ca~demnorotfere to make an award or eettle a claim for damAgee, E;orruwer faila to rexpond to I.ender within :;0 days after the date auch notice ie muiled, l.ender is authorized to cotlect and apply the procecda, at I.ender's option, either to reetoration or repair of the property or to the auma secured by this Mortgage. tinleaa l.ender and Borrower otherwise agree in writing, any auch application of procecds to principal ahall not extend or poetpone the due date of the munthly instailmenta referred to in paragraphs I and 2 hereof or change the amount of such inetallmente. l0. I3orrower Not Releaerd. F.xtension o[ the time !o~ paym=nt or modificntic?n of Amoirtization of the sums secured by this Mortgage Kr:int~d by [xnder to any succeHSOr in intereat of Hormwer xhuli not operate k? rnle.?se, in any manner, the liability of the oriqinal l3orrower ~ind t3orrowei s succeesurt? in interest. I.ender shall not be required to commence proceeciinRa ngainat euch successor or refuse to extend time fur payment or otherwise modify amortizntion o[the sums secund by this hiortgage by m.~~n of any demand made by theoriginal Borrower and }~~rmwer's sucre~urx in interest. 11. Forbearance by Lender Not a 14'aiver. Any forbearance by l.ender in exercieinq any right or mmedy hereunder, or otherwise affurded by epplicable law, ahall not be a waiver of or prerlude the e:emiae of any auch right or remedy. The procurement of insurance or the payment of txxea or other liena or chargea by I.ender ahall not be a vYaiver of l.ender's right to accelerate the maturity of the indebtedneaa secured by thie !ltortgage. 1`l. Remedies Cumulative. Ap remediea pmvided in thia Mortgage are diatinct and cumulative to any other right or remedy under thie 1lortgage os,afforded by law or equity,-and may be exercise~l concurrently, independently or succesaively. l:i. Succeeaora and Aesigne Bound: Joint and Several Liability; Captione. The covenants and egreementa herein contained ahali bind, and the righta hereunder ahall inure to, the respective succeasors and assigns of I.ender and Borrower, subject to the provisiona of pnragraph 17 hereoG All covenantx and agreements of F3orrower ahall be joint and several. The captiona and headings o[the paragrapha of this Mortgage ~re for covenience only and are not to t?e used lo interpret or define the pmvieiona hereof. l4. NoticR. F.xcept fur .~np notirn n~c~uircYi under :?pplicnble Inw to br Kiven in another mnnner, (a) any notice to F3orruwer provided for in ' . . . ~F11AMIl?IOAOPC}fAIIM~1VYnF~....:~:l:nnc~.n{.n.,~~,.;.ti....~,~~~~.....:l..au~. .1•..0..~......._..••~-ri--_ - - - ' - . c. sco8£~aav x.:a..,..c: atsi~ct tvprt~yttu~ttt'SriU[:tlttIIC(lUi[l@iilQ8iC8S88 k3orrower may designate by notim to I.ender as provided herein, and (b) anv notice to l.ender shall be given by certified mail, return receipt requested, to l.ender's addreas stated herein or to auch other uddreas xs i.ender may designate by notice to E3orrower ae pmvided herein. Any nutice provided for in this Atortgage shall be deemed to have been given to I3orrower or I.ender when given in the manner designated herein. 15. Uniform Mortgage; Governing I.ew; Severability. This form of mortgagecombines uniform rnvenants fornational uaeand non- uniform co~•enants with limited variations by jurisdiction to cunstitute n uniform security instrument covering real property. Thie Mortgage shall be govemed by the law of the jurisdiction in which the Yroperty is located. In the e~•ent that any pruvision or clause of this Mortgage or the Note conflicts w~th applicxble law, such cunAict shall not affect other provisions of this MortqaKe or the Nnte which can be Riven effect w•ithout the crontlictinR pmvision, ~nd to this end the provisiuns of the MortgaKe and the Note are declared to be severable. 16. Borrower'a Copy. f3orrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. - I7. TransCer ot the Property; Asaumption. If alt or any part of the Property or an interest therein is sold or tranaferred by Korrower K~thuut l.ender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to thia Mortgage, (bl the creation of a purchasi muney security intereat for household appliances, (c) a tranafer by devise, descent or by operation of law upon the death of a joint ten:int or ld) the grant of any leasehold interest of three years or lesa not contair.ing pn option to purchase, l.ender may, at I.ender's option, declare all the sums secured by this 1~lortgaRe to be immediately due and payable. [.ender ahall have waived such option tv accelerate if, prior to thr sale or tranafer, I.ender and the person k~ whom the Property is to be sold or transferred rexch agreement in w-riting that the credit of Such person is satisfactory to l.ender, and that the interc~t payable un the sums secured by this Mortkage shall t?e at such rate as I.erider shall requrst. I[ Ixnder has waivec! the option to accelerate pmvided in this parr~Rraph 17, and if B~rrow•er's successor in interest has executed a ~ w-ritten ~ssumption aKreement accepted in writinK by I.ender, I.ender shall rele~se Borrower from all obli~;~tions under this blortgage and the 4 :1ute_ ` If l.ender exercise~ such option to accelerate, I.endershall mail Bormwer noticeof acceleration in accordance with paragraph 14 hereof. ~ Such notice shall pru~•ide a peri~~d of not less than :i~ida~~s from thed:?te the notice is mailed w•ithin w•hich Bormwer ma~ pa~• thesums declared ! due. If Borrower fails to pay such sums prior to the expiration of such period, Ixnder m:?y, without further n~tice or demand on F3orrower, 3 ~nvoke anr remeclies permitte~d by paraQraoh IR hereof. P ; 18. Acceleration; Remediea. E:cept as provided in paragraph 17 hereof. upon Borrower's breach ot any covenant or ~ aqreement of Borrower in this Mortgage. including the covenants to pay when due any suma aecared by this Mortgage. Lender ~ prior to acceleration ahall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action ~ required to cure e~uch breach: (3) a date, not leae than 30 days from the date the notice is mailed to Borrower, by which auch F breach must be cured; and 141 that failure to cure such breach on or before the date specified in the notice may result in ~ eccelerationofthesumssecuredbythis;Nortgage.foreclosurebyjudicialproceedingandealeoftheProperty.Thenoticeshall ~ further intorm E3orrower of the riRht to reinstate aRer acceleration and the right to essert in the foreclosure prceeeding the ~ non-ezistence ot a detault or any other detense of Rorrow•er to aceeleration and forecloaure. If ~e breach ia not cured on or ~ beforP the date apeciFed in the notice, I.ender at [,ender's option may declare all of the sums aecured by this Mortgage to be immediately due and payable without further demand and may toreclose this Moctgage by judicial proceeding. l.ender sha11 be ~ entitled to collect in such proceecling all expensex of foreclosure. including. but not limited to. reasonable attorney's tees. and ~ c•osts of documentary evidence. nbstract~v and title reports. ~ 19_ Horrower's Right to fteinstate. Notwithatanding I.ender's acceleration of the aums secured by this Mortgage, E3orrower shall have ~ the riKht to have any proceedinQa begun by l.ender tn enfor~r thiR M~rt~aRe discontinued at any time prior to entr~ of a judgment enforcing ~ this Mortgage i[: (al I3orrower pays I.ender all suma which would t?e then due under this Mortgage, the Note and notes securinK Future ~ Advances, if any, had no acceleration occurred:lbt i3orrower cures all breachea of any othercovenantti or agreements of €~orrow•er containe3 in k' this MortgaRe; (cj E;orrower a s all reasonable ex ~ p y penses incurred by Lender in e~forcing the covennnts and agreements of [3orrower c~ntained in thia biortgaKe and in enfurcing I.ender's remedies as provided in paragraph 18 hereof, including, but not limited to, reasonable s attorney's fees; and Id) E3orrower takea auch action~as Lender may reasonably reyuire to as.gure that the lien of thia Mort~taKe, I.ender's intereet _ in the Property and Borrower's obiigation W pay the sums secured by this MortgaRe shall continue unimpaired. CJpon auch pavment and ~urP by Borrower, this Mortgage and the obligations secured hereby shall remain in full force and effect as if nu acceleration had occurred. ~ 20. Aasignment of Rents; Appointment of Receiver. As additional security hereunder, E3orrower hereby asaigns to Lender the rents ' of the Yroperty, provided that E3orrower shall, prior Lo acceleration under paraRraph 18 hereof or abandonment of the E'roperty, have the right ~ to collect and retain auch rents as they become due and payable. ~ Upon acceleration under paragraph l8 hereof or abandonment of the Property, I~ender shall be entitled to have a receiver appointed by a - court tri enter upun, take posaeasion"of and manage the Property and to collect the rents of the Property, including those past due. All renta collected by the receiver shall be applied firat to payment of the costa of management of the Ymperty and collection of rente, including, but not - limited lo, receiver's fees, premiums on receiver's bonds and reasonable attorney's fees, and then to the auma secured by thie Mort{~aRe. The - receiver shall be liable to account only for those rnnts actuaHy received. ~ Y"~ i~ ~ ' ~ AUGK~vV FAG~ ~ : ;_a F3 .T 2 - . ~ ' ~ . _ ' _ r ; ~ ~ r+ . :a, ~'~`,~''p~~>` °4~~., a~'^..'` - r ++s~,.n'*~ ~~'.4~ ~°'''~5 , 3* ~ ~c~.~i -~,~s , ~.~.-v.~-~ •x ' _ ~ _ ~ ~ ~ ' : ~ ~c- 4~` -x~:~.~. c. . . ;a°~=~.::.:.-. .