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Home My WebLink About0500 8. Ia~peMloa. Lender may make or cause to be made reawaable entrie~ upon and inspectione oithe pmperty, pmvided Wat Lender ahall give Botrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's intere~t in the Property. 9. Coademnetion.'ll?e proceeds of aay eward or claim for damage~, direct or consequential. in connectioa with any oondemnatioa or other talring of the property. or part thereof. or for rnnveyanoe in lieu of condemnetion. an hereby aeaigned and ahaU be paid to Lender. Ia the event oi a total taking of the P~operty, tiie procee~is shall be applied to the sums secured by thia Mortgage, writh the e:cess. if aay, paid to Borrower. In the event of a partial taking of the Propezty. unlesa Borrower and I.ender otherwise agree in writing. there shall be appGed to the sums secured by this MortQage sach proportion oi the proceeds as is equal to that proportion which the amount oi the aums aecured by this Mortgage immediatety prior b the dnte of taking beare ta the fair market value oithe Propedy immediately prior to the date ot taking, with the balance of the prooeeda paid b Borrower. If the Property is abandoned by Borrower. or if, aRer aotioe by I.ender to Borrower that the aondemnor offers to malce aa ewrard or setUe a ctaim for dameges. Borrower fails to respond to Lender within 30 days after the data auch notioe is mailed, I.ender is autho:ized to collect and apply the prooeeds. aL I.endu'e option, either to restoration or repeir of the properRj? or to the sums secured by thia Mortgaga Unlees Lender and Borrower otherwise agree in writing, aay ~uch apptication oip:oceeda to principal ahaU not euteud or postpone the due date of the moathly inatallments referred to in paragrapha 1 aud 2 bereof or change the amount of such installmenta. 10. Borrower Not Releaaed. Extension of the time for paymrnt or modification of aawrtization of the suma eecured by this Mortgage granted by Lender to any succeseor in intereet of Bon+ower ahall not operate to releaee. in any manner, the liability of Lhe original Borrower ' and Borrower'a saccesaore in interea~ Lender ahall not be required to commence proceedings againat euch succeaeor or refuse to eztend time for payment or otheiwise modify amortization of the eume eecured by this Mortgage by reason of any demand msde by the original Borrower and Borrower e aucceaeore in intereet. ' I 1. Forbearanoe by Lender Not a Waiver. My forbearance by Lender in exerciaing any right or remedy hereunder, or otherwiee ' afforded by applicable law, ahall not be a waiver of or preclude the e:erciee of any such right or remedy. The procurement of inaurance or the payment of taxes or other Gene or charges by Lender ahall not be a waiver of I.ender'e right eo aocelerate the maturity of the indebtedneae secured by thie Mortgage. 12 Remedies Cumulative. All remedies provided in thie Mortgage are diatinct and cumulative to any other right or remedy under this Mortgage or afforded by law or equity, and may be e:erciee~l ooacurrently, independently or auoceeeively. 13 3uccesaore and Aesigas Bound; Joiat and Several Liability; Captions. The covenants and agreements herein contained ahall bind, and the righta hereunder shall inure to, the reepective succeseors and seeigna of Lender and Borrower, subject to the proviaione of paragraph 17 hereof. All covenants and agreementa of Borrow~ eha11 be joint and eeverel. The captions and headinga of the paragraphs of thia Mortgage are for rnvenience only and are not to be uaed to interpret or define the provisiona hereof. 14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in thie Mortgage ahall be given by mailing auch notice by certified mail addresaed to Borrower atthe Property Addresa or at such other addrees as ~ Borrower may designate by notice to Lender as pmvided herein, and (b) any notice to l.ender ahall be given by certified mail. return receipt reqnested, to Lendei a address atated herein or to such other addreas a8 I.ender may designate by notice to Borrower as provided herein. Any notice pmvided for in thia Mortgage ahall be deemed to have been given to Borrower or Leader when given in the mannet deeignated 6erein. 15. Uniform Mortgage; Governing I.aw; 3everability. Thia form of mortgage combines uniform oovenante for aational oee and non- - uniform covenants with limited variationa by jurisdiction to oonstitute a uniform eecurity instrument aovering real pmpe~ty.'ILis Mortgage shall be governed by the law of the juriadiction in a hich the Property is located. In the event that any proviaion or clauee of thia Mortgage or the N9te conflicte with applicable law, auch conilict shall not affect other provisions of this Mortgage or the Note which can be given effect without the conflicting pwovision, and to this end the provisiona of the Mortgage and the Note are declared to be severable. I6. Borrow~ere Copy. Borrower shall be furniahed a conformed oopy of the Note and of thia Mortgage at the time of e:ecution or after recordatioa hereof. 1T. 'l~ansfer of t6e Property; Assumption. If all or any part of the Property or an interest therein ia sold or traneferrcd by Borrower withont Lender a prior written coneent, excluding (a) the creation of a lien or encumbrance subordinate to thia Mortgage, (b) the creation of a purchaee money eecurity intereat for houaehold appliancee, (c) a tranafer by deviae, dc~ccent or by operation of law apon the death of a joint tenant or (d) the grant of any leasehold intereat of three yeara or lesa not oontaining an option to purchase, I.ender may, at I.ender's option, declare all the aums secured by this Mortgage to be immediately due and payable. Lender shall have waived auch optioa to socelerate if, prior to the sale or tranafer, Lender and the person to whom the Property ia to be sold or transferred reach agreement in writing that the credit of each . pereon is satiafactory to Lender and that the interest payable on the suma secured by thie Mortgage ahall be at auch rate as Lender ahall request_ If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower a successor in interest has e:ecuted a written assumption agreement accepted in writing by Lender, Lender shall releaee Borrower from all obligatione under this Mortgage and the I ~T°~ If Lender exercisea such option to accelerate, Lender ahall mail Borrower notice of aoceleration in aocordance with paragraph 19 hereoL ; 5uch notice ahall provide a period of not lesa than 30 daya from thedate the notice ia mailed within which Borrower may pay the suma declared ~ due_ If Borrow~ fails to pay auch sums prior to the eYpiration of snch period, Lender may, without ft~rth~ notice or demand on F3orrower, ~ invoke any remedies permitted by paragraoh 18 hereof F ~ 18. Aoceleration; Remedies. Ezcept as provided in paragraph 17 hereof, upon Borrower'e breach of any oovenant or i agreement of Borrower in t6ia Mortgage, including t6e oovenante to pay whea due any sums eecnred by t6is Mortgage, I.ender ~ prior to acceleration ehall mail notice to Borrower se provided in paragraph 14 hereof specifying: (1) the breach; (2) the action ~ required to cure auch breach; (3) a date, not leas than 30 daye from the date the notice ie mailed to Borrower. by which such breach must be cured; and (4) that failure to cure such breach on or before the date epecified in t6e notice may result in acceleration of the eume aecured by thie Mortgage, forecloaure by judicial proceeding 8ad eale of the Property.T6e notice ehall further inform Borcower of the right to reinatate aRer acceleration and t6e rig6t to aseert in the foreclosure proceeding the non-e:iatence of a default or eny other detenae of Borrower to acceleration and foreclosure. If the breach ia not cured on or before the date epecified in the notice. Lender at Lender'e option may declare all of the suma secured by thie Mortgage to be i mmediately due and payable without further demand and may foreclose this Mortgage by judicisl proceeding. Lender shall be entitled to oollect in auch proceeding all e:penaea of foreclosure, including. but not limited to, reaeonable attorney's feee, and costs of documentary evidence, abstracts and title reports. 19. Borrower'e Right to Reinatate. Notwithatanding Lender's acceteration of the auma secured by this Mortgage, Borrower shallhave ~ the right to have any proceedings began by Lender to enforce this Mortgage disoonrinued at any time prior to entry of a judgtnent enforcing this Morfgage if: (a) Borrower pays Lender all sume which would be then due under this Mortgage, the Note and notes securing ~ture ~ Advances, if any, had no acceleration occurred; (b) Borrower cures all breachea of any othercovenante or agreemente of Borrower contained in thia Mortgage; (c) Borrower pays a11 reaeonable ezpenses incurred by Lender in enforcing the oovenants and agreements of Borrower contained in thie Mortgage and in enforcing Lender e remedies as provided in paragraph 18 hereof, including, but not limited to, reasonable ~ atiorney's fees; and {d) Borrower takes such action as Lender may reasonably require to asanre that the lien of this Mortgage. I.ender's interest ~ in the Property and Borrower's obligation to p~yr the auma eecured by this Mortgage ahall continue unimpaired. Upon such payment snd cure ~ by Borrower, thie Mortgage and the obligationa secured hereby ahall remain in full force and ett'ect as if no aoceleration had oocvrred. ~ Z0. Aseignment of Rents; Appointment of Receiver. As additional eecurity hereunder, Borrower hereby assigne to Lender the rente ° of the Property, provided that Borrower ehall, prior to aooeleration under paregraph 18 hereof or abandonment of the Property, have theright to colled and retain such rente as they become due and payable. ~ Upon aooeleration under paregraph 18 hereof or abandonment of the Property, Lender shall be entided to have a receiver appointed by a ~ oourt to enter.npon, take posseaeion of and manage the Property and to coltect the rente of the Property, including thaae past due. All r~ts collected by the receiver shall be applied firat to payment of the ooeta of management of the Property and collection of rents, including, bnt not limited to, receiver'a fcee, premiums on rec~eiver's bonde and reasonable attorney's feee, and then to the eums eecured by thia Mortgage.'{~e ~ receiver ahall be liable to acooant only for those rents actually received. ~ . ~ ~ ~ ~ ~'~.Rx 295 F.,~~ " 499 - - - ---x-- - _ _ _ --,---Y _ -