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Home My WebLink About0338 8. Inspection. l.ender may make or cauae to be made reasonable entriea upo~ and inepections of the pruperty, pruvided that l.ender shall give Bonower notice prior to a~y such inapection specifying reaaonable cauee therefor related to I.ender'e interest in the Property. 9. Condetanatlon. The proceede of any award or claim for damages, direct or conoequential, in connection with any oondemnatio~ or other taking of the property, or pert thereof, or [or conveyat~ce in lieu of rnndemoation, are hereby asaigned a~d ehaU be paid to Lender. ln the event oi a total taking ot the Paoperty, the proceeda shall be applied to the sums secured by this Mortgage, with the ~cess, if any, pnid to Borrower. In the event of a partial taking of the Property, unlees Borrower and I.e~de~ otherwiee agree i~ writing, there shali be npplied to the sums eecured by this Mortgage auch proportion ot the ptoceede aa ie equal to that pmportion which the amount of the aums ae~vred by this Mortgage immedietely prior to the date oi taking beare tu the fair market value of the Properiy immediately prior to the date of taking, with the balanca of the proceede paid b Borrower. lf the Property ie aba~doned by Bor~ower, or ii, aRer notice by I.ender to Borrower that the condemnor oflere to make an awatd or setUe a claim for damagea, Borrower faile to reepond to l.ender within 30 daye after the date euch ~otice is mailed, l.ender is authorized to collect and apply lhe ptoceeds. at l.ender's option. either to restoration or repair of the pmperty or to the aums eecured by this Mortgage. Unleas l.ender and Borrower otherwiee agree in writing, any euch application of proceeds to principal ahall not e:tend or postpone the due date of the monthly inatallmente referred fo in paragiraphs 1 and 2 hereof or change the amount of auch inatallments. ' 10. Borrower Not Released. Extenaion of the time for paymant or modification of amortization of the sums ecrured by thia Mortgege Kranted by l.ender to any Bucceaeor in interest ot Borrower shall not operate to releaee. in any manner, the liability of the original Borrower , und Borruwer's succeaeors in intereat. l.ender ahall not be required to commence proceedinga againat euch succeasor or refuee to e:tend time for payment or otherwise modify amortization of the auma secured by thie Mortgage by reaeon of any demand made by the original Borrower ~ :ind Borrower a auccesaors in intereat. 1 l. Forbearance by I.ender Not a Waiver. Any forbearance by Lender in e:erriaing any right or remedy hereunder, or otherwiee aflforded by applicable law, ahall not be a waiver of or preclude the exerciee of any s~ch right or remedy. The procurement of ineurance os the payment of t~ee w other liene or charges by l.ender ehall not be a waiver of [.ender'e right to accelerate the maturity of the indebtedneas secured by thia Mortgage. ' 12 Remedies Cumulattve. All remediea pmvided in thia Mortgage are distinct and cumulative to any other right or remedy under thie Mortgage or afforded by lsw or equity, and may be e:erciee~i ooncurrently, independently or succeeeively. 13. 3uccessors and Assigns Bound; Joiat and Several Liabiltty; Captioas. The covenants and agreementa herein rnntained shall bind, and the righta hereunder ahall inure to, the reapective auccesaora end eaeigna of Lender and Borrower, subject to the provieions of paragraph 17 hereof. All covenanta and agreements of Borrower ehall be joint and eeveral. The captione and headinge of the paragraphs of thie Mortgage are for rnvenience only and are not to be uaed to interpret or define the provieione hereof. l4. Notice. F.xcept [or any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided forin t h ia Mortgage ehall be given by mailing such notice by certified mail addreeaed to Borrower at the Property Addreas or at auch other addreea ae Fiorrower may deeignate by notice to I.ender ae provided herein, and (b) any notice to l.ender ahall be given by certified mail, return receipt n~queeted, to Lender's addresa stated herein or to such other addresa as i.ender may designate by notice to Borrower as provided herein. My notice prov?ded tor in thia Mortgage ehall be deemed to have been given to Borrower or Lender when give~ in the manner designated herein. 15. Uniform Mortgage; Governing Law; Severability. Thie form of mortgage combines uniform oovenante for national use and non- unifortn covenants with limited variationa by jurisdiction to rnnstitute a uniform eecurity inatntment rnvering rea1 property. Thie Mortgage shall be govemed by the law of tlie jurisdiction in which the Property is located. In the event that any provu+ion or clauee of this Mortgage or the Note conllicts with applicable law, auch conflict ahall not affect other proviaiona of this Mortgage or the Note which can be given effect .+•ithout the contlicting proviaion, and to this end the provisiona of the Mortgage and the Note are declared to be severable_ 16. Borrower's Copy. Borrower ahall be fnrniahed a conformed rnpy of the Note and of thie Mortgage at the time of e:ecution or after recordation hereot. 17.1`raneter of the Property; Aeaumption. If all or any part of the Property or en intereet therein ia sold or traneferred by Borrower without L.ender's prior written conaent, e:ciuding (a) the creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a pumhase money security interest for houaehold appliancea. (c) a tranafer by deviae, descent or by operation of law upon the death of a joint tenant or (d) the grant of eny leasehold interest of three yeare or lees not oontaining an option to purehase, Lender may, at Lender a option, declare all the sums secured by thie Mortgage to be immediately due and payable. Lender ahall have waived auch option to accelerate if, prior to the sale or tranafer. Lender and the person to whom the Property ia to be aold or transferred reach agreement in writing that the credit of auch person is satisfaMory to l.ender and that the interest payable on the suma secured by this hlort{~age ahall be at auch rate as Lender ahall reyuest. If Lender has waived the option to accrlerate pmvided in this paragraph 17, and if Borrower a auccesaor in interest has executed s ..•ritten assumption agreement accepted in writing by [.ender, Lender ahall releaee Borrower from all obligations under thia Mortgage and the ! \ nte. ~ If I.ender exercises auch option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. t tiuch notice shall provide a period of not less than days from the date the notice ia rr.ailed within which Borrower may pay the aums declared ~ due. If Borrower fails to pay auch sums prior to the eapiration of such period, Lender may, without further notice or demand on ~forrower, ~ ; invoke any remedies permitted by paragraoh 18 hereof. 6 ~ 18. Acceleration; Remediea. E:cept ae provided in paragraph 1? hereof, upon Borrower'x breach of any oovenant or ~ agreement of Borrower in this Mortgage, including the covenanta to pay when due aay suma secured by this Mortgage. Lender prior to ecceleration shall mail notice to Borrower aa provided in paragraph 14 hereofepecifying: (1) the breac6; (2) the action ~ required to cure such breach; (3) a date, not less than 30 days from the date the notice ie mailed to Borrower. by which euch ~ breach must be cured; and (4) that feilure to cure e~uch bmach on or before the date epecified in the notice may reault in ~ acceleration of the eums eecured by this Mortgage. forecloeure by judicial proceeding and eale of the Property. The notice ahall further inform Borrower of the right to reinetate after acceleration and the rig6t to seeert in the forecloaure proceeding the non-e:ietence ot a defauit or sny other detense ot Borrower to aoceleration aqd torecloeure. If the breach ie not cured on or brfore the date apecified in the notice, Lender at Lender's option may declare all ottbe euma secured by this Mortgage to be immedietely due and payable without further demand and may forecloee this Mortgage by judicial proceeding. Lender shall be entitled to collect in Buch proceeding all ezpenses of foreclosure, including. but not limited to. reaeonable attorney's feea. and ~ costa of documentary evidence, abetracte and title reporte. ~ ~ ~ 19. Borrower'e Right to Reinstate. Notwithstanding Lender's acceleration of the suma eecured by this Mortgage, Borrowerahall have ~ the right to have any proceedings begun by Lender to enforce thia Mortgage diacontinued at any time pr.or to entry of a judgment enforcing r~, this Mortgage if: (a) Borrower paye Lender a11 aums which would be then due under thie Mortgege, the Note and notee eecurinq Future ~ Advances, if any, had no acceleration occuned; (b) Borrower cures all breachea of any other covenanta or agreementa of Borrower contained in ~ this Mortgage; (c) Borrower pays all reasonable e:penaes incurred by Lender in enforcing the rnvenants and agreements of E3orrower ~ contained in thie Mortgage and in enforcing I.ender's rnmedies as provided in paragraph 18 hereof, including, but not limited to, reaeonable " attomey's feea; and (d) Borrower takes such action se Lender may reasonably require to aseure that the lien of this Mortgage, Lendei s intereet ' in the Property and Borrower's obligation to pay the aums aecured by this Mortgage ahall continue unimpaired. Upon such payment and cure - by Borrower, this Mortgage and the obligationa secured hereby shall rnmain in full force and effect se if no acceleration had occurred. v^ 20. Aseignment of Rente; Appointment of Receiver. Ae additional eecurity hereunder, Borrower hereby sesigne to Lender the renta w of the Property, provided that BorroweT shall, prior to aoceleration under paragraph 18 hereof or abandonment of the Property, have the right to collect and retain such rente as they become due and payable. ~ Upon acceleration under paragraph 18 hereof or abandonment of the Property. Lender ahall be entided to have a receiver appointed by a ~ court to enter-~pon, take pos8eeaion of and manage the Property and to collect the rents of the Property, including thoee past due. All rente a coilected by the receiver ehall be applied firet to payment of the ooate af management of the Property and collection of rente, including, but not F:; ~ lirtited to, receiver's fees, premiums on receiver a bonda and reasonable attomey'e feea, and then to the suma eecured by thie Mortgage.'I~e receiver shall be liable W acwunt only for thoee rente actuaily received. ~ ~ ~ ~ ~ ~ ~92 338 : ~ ~ _ - - - - - _ - - - - . 4 Y : ~ N ~ ~~'~'°~~i3 ~ • ;~,~;"c`~'~%,.~t- _ ' ~ ~,i~^;, ~ s-..+~~ .3 .k . ~ ~ s7rr- ~ ~ x~~ „~s -f -c _ ~~~~~3.` ~ - - - s~,.-~=,