HomeMy WebLinkAbout0047 H. j[l~pei,L~Op. I.ender may ma~e or cause to be mada reawnable entries upon and'uupectiona oithe pmperty. provided that I.cnder ~hall
give Rorrower notice prior to any such inapection specifying reasonable cause theteior nlated to Lendei s intereat in the Ptoperty.
9. CODdem[1~~0A. The p~oceeds oi any award or claim foc dama~, ~irect or conepuential, in connection with any ooademnation or
othe~ taking of the pmpe~y. oT psrt thereot, or for conveyenoe in lieu ot oondemreation.:tes hereby esaigned and shall be paid to Lender.
!n the event of a total taking of the Property. the proceeds shall be applied b the sums ~ecured by thia Mortgage~ ~vith the ezce~a. if any,
pedd to Borwwe~. In the event o! a partial taking of the Propaty. unleas Borrower and l.end~ otherwiae agrea ia writina, there shall be
appUed W the sums secured by this Mortgage ~flch proportion of the proceeds as ia equal to that proportioa which the amonttt of the sume
secured by thia Mortgage iaiauediately prior to the date of taking beara to the fair market value of the Propedy immediately prior to We date of
taking, with the balanc~ of the proceeds paid to Borrower.
If the Property is abandoned by Bormwet, or if, aRer notioe by I.ender to $orrower that the condemnor ot~en to malce an award or settle a'
claim for damages, Borrower tails to respond to I.eader within 30 days after the date such notioe is mailed, Lender ia authorized to collect and
epply the prooeeds, at I.ender
a option. eithes to restoratioA or repair of the prop~ty or b the sums secured by this Mortgage.
Unleea Lender and 8orrower otherwire agree in writing. any such application of proceedi to priacipal shall not extend or postpone the due
date of We monthly_ installmente referred to in peragraphs 1 and 2 hereof or chanQe the amount of auch inatallments.
10. Borrower Not Released. Extenaion of the time for paym=nt o~ modification of amoriization of the suma secured by this Mortgage
granted by I.enda to any succeasor in intereat of Borrower ahell not operate w telease. in any manner. the liability of the original Borrower
and Borrower's aucceaeors in inteira~ lender ahall not be required to oommence proceedings againat ench ancceeeor or refuee to e:tend time 4
for payme~t or otherwiae modify amottization of the sums secared by this Mortgage by reason of any demand made by the original Borrower
and Borrower e sucY~eeaore in interest '
11. Forbearanoe by I.eader Not w Walver. My forbearance by Lender in ezercising any right or remedy hereunder. or oWerwise
afforded by applicable law. shall not be a waiver of or pxeclude the exercise of any such right or repnedy. The procuremeat of ineurance or the
payment of taxes or other liens or charges by Lender ahall not be a waiver of I.ender
s right b accelerate the maturity oi the indebtedn~s
secured by Lhis Mortgage. .
12 Remedies ~mulative. All remediee provided in thia Mortgage are distinct and cumulative to any other right or remedy under thie
Mortgage or afforded by law or equity. and may be ezercise~t ooncurcendy. independently or suoceasiveiy.
13 3ucceesors aad Assigns Bound; Joint and Severa! Liabillty; Captiona. Tf~e oovenants and agreements herein contained ehall
bind, and the rights hereunder ahall inure to. the reapective eucceeeors and seaigns of Lender and Borrower. aubjert to the pmvisions of
paragraph 1? hereof. All covenanta and agreemeate of Borrower ehall be joint and eeveral.'Ilie captions and headings of the paragraphs of
thie Mortgage are for covenience only and are not to be ueed to interpret or define the proviaione hereof. -
14. Notice. Ezcept for any notice required under appliesble law to be given in enotl~er manner, (a) any notice to Borrower pmvided for in
thia Mortgage ehall be given by mailing auch notice by aertified mail addreeeed to Borrower at the Property Addreas or at euch other addresa aa
Borrower may deeignate by notice to I.ender as pmvided herein, and (b) any notice to Lender shall be given by certified mail, return reoeipt
reque.sted, to Lender's addreas atated herein ot to snch other addregs as Lender may deaignate by notice to Borrower ea provided herein. My
notice provided for iri thia Mortgage ehaU be deemed to have been given to Rarrower or Lender when given itr the manner designated herein.
15. Uaiform Mortgage; Governing Law; 3everabillty. Thia form of mortgage combinea uniform oovenants for national uae and noa-
uniform covenaata with limited variationa by juriediction to oonstitute a uniform security instrumeat oovering real property. This Mortgage
shall 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
the Note rnnflicts with applicable law, euch contlict ahall not affect other provisiona of thie Mortgage or the Note which can be given effect
without !he rnnfticting proviaion, and to thia end the proviaiona of the Mortgage and the Note aze declared to be severable.
16. Borrower's Copy. Borrower ahall be fumished a conformed wpy of the Note and of thie Mortgage at the time of ~ec~tion or aftet
recordation h~rcof.
17_ 1lransfer of the Property; Aesumption. If all or any part of the Property or an intereat therein ia eold or transferred by Borrower
with~ut I.endet's prior writien consent, ezcluding (a) the creation of a lien or encumbrance aubordinate to this Mortgage, (b) the creation of a
purchaee money eacvrity interest for houeehotd appliances, (c) s trenefer by deviee, dc~oeat or by operation of law upon the death of a joint
tenant or (d) the grant of su~y leseehold intereat of three years or lesa not oontaining an option to purchase, I.ender may, at Lender
e option.
declare all the sume eecnreq by this Mortgage to be iaunediately due and payable. I.ender shall have waived such option to socelerafe if. prior
to the sale os tranafer, Lender and the peraon to whom the Property ia to be eold or traneferred reach agreement in vrriting that the credit of auch
pereon ia satisfactory to Lender and that the interest payable on the auma secured by thia Mortgage ehall be at auch rate as L.ender shall
request. If Lender has waived the option to accelerate pmvided in thia paragraph 17, and if Borrow~'s auccessor in interest has executed a
written aaaumption agreement accepted in writing by i.ender, Lender shall release Borrower from aU obligationa under this Mortgage and the
Note. -
If Lender e:erCises such option to accelerate, Lender ehall mail Borrower notice of aoceleration in sooordance with paragraph 14 hereot
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 sume declared
dus. If Borrower faile to pay such suma prior to the e:piration of such period, Lender may, without turther notice or demand on I3orrower,
mvoke any remedies perrnitted by patagtaoh 18 hereof.
18. Acceleration; Remediea Ezcept as provided in paragraph I? hereof. upon Borrower's breach of any ooveaant or
agreement of Borrower in tbie Mortgege, inclnding the oovenante to pay when due any sums eecured by this Mortgage. Lender
prior to aoceleration shall mail notice to Borrower ae provided in paragraph 14 hereof specifyiag: (1) the breach; (2) the action
required to cure such breach; (3) a date, not leas than 30 daye from the date the notice ie mailed to Borrower, bq which sac6
breach muat be cured; and (4) that faiIure to cure sach breach on or before the date epecified in t6e notice may result in
, acoeleration of the sums secured by this Mortgage, forecloaure by judicial proc~ediag and sale of the Property. The notice ehall
furt6er inform Borrower of the right to reinetate-atter aoceleration and the rig6t to assert in the foreclosure proceeding the
non-ezistence of a default or any other defenae of Borrower to aoceleration and foreclosure. If the breac6 ie not cured on or
before the date epecified in the notice, Lender at Lender's option may declare all of ihe sums aecured by ihie Mortgege to be
immediatety due and payable without furtherdemand and may foreclose thia Mortgage by judicial prooeeding. I.ender ahallbe
entitled to collect in such proceeding ali ezpensee of foreclosure. including, but not limited to, reasonable attorney'e fees, and
costs of documentary evidence~ abetracte and title reports.
19. Borrower's Sight to Reinetate. Notwithatanding I.encler
e acceleration of the suma secured by this Mortgage, Borrower ahall have
the right to heve any proceedings begun by I.ender to enforce this Mortgage diecontinued at any time prior to entry of a judgment enforcing
thia Mortgage if; (a) Borrower pays Lender all euma which would be then due under thie Mortgage, the Note and notea securing ~ture
Advances, if any~ had no acceleration occurred; (b) $orrower cures all breachee of any other rnvenants or agr~eements of Borrower contained in
this Mortgage; (c) Borrower paye a!1 reasonable ezpenses incarnd by Lender in enforcing the oovenants and agteemente of Borrower
oontained in thie Mortgage and in enforcing I.ender's remedies as provided in paragraph 18 hereof, inclading, but not limited to, reaeonable
attorney's feea; and (d) Borrower takes euch action aa Lender may reasonably require to aesure that the lien of thia Mortgage. Lender'e interest
ia the Property and Borrower e obGgation to pay the aums eecnred by thie Mortgage ehall continue unimpaire~l. Upon aeich payment and c~re
by Borrower, thie Mortgage and the obligations eecored hereby ehall remain in fn11 force and effect as it no aoceleration had occurred.
20. Aaeegnment of Renta; Appointment of Receiver. Ae additional eecurity hereunder, Borrower hereby asaigna to I.ender the rente
of the Property, pmvided that Borrower shall~ prior to acceleration under paragraph 18 hereof or abandonment of the Property, have the righ!
to rnllect and retain euch rents aa they become due and payabie.
Upon aooeleration ~u?der paragreph 18 hereof or abandonment of the Property, Leader ahall be entitled to have e receiver appointed by a
oourt to enter-npon, take posaeseion of and manage the Property and to collect the renta of the Property, including thoee peet due. All renta
oollected by the ~eceiver ahall be applied firet to payment of the ooata of management of the Property and oollection of rents, including~ but not
limited to. receiver's feea, premiums on rec~eiver's bonde and reaeonable attorney e fees, and then to the auma eecnred by thie Mortgage. 7'he
reoeiver shall be liable to aocount only for thoee rents actually reoeived.
800K~ PAGf ~7
h ~~.J- _ ~ - .___._-Z~ _ _ _
1~. - - ~
~ ~ C.
~ a ~`~'s~' s- ~ .
_ ~~"~st' ~,y:
~
~r, r ~ .
_ ~