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HomeMy WebLinkAbout0583 . 8. Ia~pection. Leader may make or cews to be aaade reawnable entrie~ upoa aad'uupsction~ of the pmper4y, provided tliet Lender shaU give Botrower notice prior to any such uupectiou sperifyina reasonable cawe therefw related to Lender'~ iAterest ia the Property. 9. Condemnadon. The proceed~ of any award or deim for damages. direct or ooa~equential. ia connection arith at~y aoademnation or other takin~ of the pmpert,y. or Part thereof. or for coAVeyanca ia lieu of oondemnatioa, are hereby aisi8aed and shsll be paid to Leader. In the event of a total taking of the Property, the pmceeds shall bs appGed to We ~ums secured by this Mortgage, ~vith the a~coe~a, if any, paid Lo Botrower. In the event of s partial taking of the Properb?. unlea Borrowe~ aad L~de~ otherwise a~ree in writia~. there shall be ~ applied t~o the sums sscured by this Mor~aite snch p~oportion of the praceeda e~ u equal to that pmportion which the aiaount oi We ninu ; secvred by this Mort~a~e imaiediately prior to We date of takin~ besn to the fair martet value of the Property immadiately prior to the dete of ! takin~. wieh the balance of the proceeds paid to Borro~rer. If the Property u abeadoAed by Bore+ower. or if. 9RQ! AObOQ A~/ LQI1dE! LO BO!['OMl~ Wa~ ulE ODA(I~UlOI OgQis t0 mH~! 9II 8N8td OL ~ZIE ~ claim for damaees. Borro~ver feub to respond to I.ender withia 30 days aRer the date ~uch Aotioe is mailed, Lenda is autlwriud to coUect and apply the prooeed~. at Lend~'~ option. either to natoration or repair of the property or to the sums secured by this Mortga~e. Unless Lend~r and Botrower otherwise agree in writia8, any such application of prooeeds to principal ahaU aot estend or pwtpone the due date of We monthly installmeab nferred to ia paragraphe 1 and 2 hereof or change the amount of suck inetallments. - 10. Borrower Not Reteased. Fa~teneion of the time for pay~a:nt or modification of amortization of the sums secured by this Mortgage granted by Lender to any aucceswr in intereat of Borrower ehall not operate to release, ia any manner. the liability of the original Borrower and Borrow~'a euoceeaors in intereeL I.ender ahall not be required to oommenoe prooeedin~e a~ainat snch euccessor or refuse to eztend time for pa~yment or otherwiae modify amortization of the euma eecured by thie Mortgage by reaeon of eny demand made by the original Borrower . and Borrowerb auccessore in interest. ' ' 11. Forbearanoe by Lender Not a R?aiver. Any forbearance by I.cad~ in ezerciaing any right or nmedyr hereunder. or otherwise afforded by applicable law. shall not be a waivez of or preclude the exercise of any anch right or remedy.'14~e pmcuremen! of insurance or the ; payment of t~es or other lieae or charges by I.ender ahall not be a waiver of Lender's right to sooelerate the maturity oi the indebtedaeas ' eecured by this Mortgage. 12 . Remedies Cumulative. All remedies provided ia this Mortgage are dietind and cumulative to any other right or remedy under this Mortgage or afforded by law or equity. and may be ~ercise~l ooncnrrendy. independendy or suocessively. 13. 3ucceesors and Aseigna Boand; Joint aad 8everal Liabillty; Captions. The covenants and agreementa herein oonteined ahall bind, and the rights hereunder ahall inure to, the respective aucceeeors and aeeigns of I.ender and Borrower. aubject to the provisions of paragraph 17 hereof. All covenants and agreementa of Borrower shell be joint and several.'IUe captions and headinge of the paragraphs of thie Mortgage are for covenience only and are not to be used to interpret or define the provisione 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 shall be given by mailing such notice by certified mail addreeeed to Borrower at the Property Addreea or at euch other address as Borrower may deeignate by notice to L,ender as provided herein, and (b) any aotice to Lender ehall be given by cetti6ed mail, return rec~eipt requested, to Lend~ s addrese atated herein or to ench other addreee as L.ender may designate by notice to Borrower aa pmvided herein. Any notice provided for in this Mortgage ahall be deemed to have been given to Borrower or Lender when given in the manner designated herein. 15. Uaiform Mort~age; Governing Law; Severability. Thia form of mortgage rnmbinea nniform oovenaata for national uee and non- uniform oovenante with limited variationa by juriadiction to oonatitute a uniform secnrity inetrument covering real property. Thie Mortgage ahali be governed by the law of the juriediction in which the Property ie located. In the event that any proviaion or clauee of this Mortgage or the Note conilicte with applicable law, such conilict ahall not affect other pmviaione of this Mortgage or the Note which can be given effect = without the oonflicting provision, aad to thie end the provisione of the Mortgage and the Note are declared to be eeverable. 16. Borrower's Copy. Borrower shall be fumished a conformed oopy of the Note and of thie Mortgage at the time of e~cecution or after recordation hereof. 17.'I~ansfer of the Property; Assumption. If alI or any part of the Property or an intereat therein ia eold or transferred by Borrower without Lende~'s prior written consent, e:cluding (a) the creation of a lien or encumbrance eubordinate to thia Mortgage, (b) the creation of a purchaee money security intereat for household appliancea, (c) a tranefer by devise, deecent or by operation of law upon the death of a joint tenant or (d) the grent of any lea~ehold intereet of three years or less not oontaining an option to purchaee, Lender may, at Lender's option, declare all the aums aecured by thia Mortgage to be immediately due and payable. L,ender ehall have waived such option to socelerate if, prior ; to the sale or transfer, I.ender aad fhe person b whom the Property is to be eold or traiieferred reach agreement in writing that the credit of such " F peraon is satiefactory to I.ender and that the interest payable on the eume aecured by thia Mortgage ahall be at euch rate as Lender ahall i request. If Lender hae waived the option to accelerate provided in thia paragraph 17, and if Borrow~'s succeasor in intereat has ezecuted a j written asaumption agreement accepted in writing by Lender, Lender ahall release Borrower &om all obligationa under this Mortgage and the E Note. ' If Lender e:ercieee such option to accelerate, Lender shall mail Borrower notice of acceleration in acoordance with paragraph 14 hereot . ~ Such notice shall provide a periadnf not leas than 30 days from the date the notice is ~r.siled within which Borrower may pay thesume declared ~ ; due_ If Borrower faile to pay such eums prior to the eapiration of auch period, I.ender may, without fnrther notice or demand on E3orrower, E invoke any remedies pennitted by paragraoh 18 hereoL f ' ~ 18. ~Aoceleration; Remedies. Ezcept as provided in paragrap6 17 hereof, upon Borrower's breach of any oovenant or ~ agreement ot Borrower in this Mortgag~, including the oovenants to pay when due any sums secured by this Mortgage, Lender ~ prior to acceleration ehall mail notice to Borrower ae provided in paragraph 14 hereof epecifying: (1) the breach; (2) the action required to cure auch breach; (3) a date. not leaa than 30 days from the date the notice is mailed to Borrower, by which such breach muet be cured; and (4) that failure to cure such breach on or before the date epecified in the notice may reault in acceleration of the sums secured by this Mortgage, foreclosure by judicial prooeeding and sale of the Property. The notice ahell further inform Borrower of the right to reinatate aRer aoceleration and the right to aesert in the foreclosure proceeding the non-e~etence of a default or any other defenae of Borrower to aoceleration and foreclosure. If the breach is not cured on or before the date epecified in the notice, Lender at I.ender's option may declare all of the suma eecured by thia Mortgage to be immediately due and payable wit6out further demand and may foreclose t6is Mortgage by judiciel proceeding. Lender ahall be entitled to oollect in such proceeding all e:pensea of forecloaure, including, but not limited to. reaeonable attoraey's fees, and costs of documentary evidence, abstracte ar.d title reports. 19. Borcower's Right to Reinetate. Notwithstanding Lender's aooeleration of the suma eecured by thia Mortgage, Borrower ehall have the right to have any pmoeedings begun by Lender to enforoe thia Mortgage diecontinued at any dme prior to entry of a judgment enforcing this Mortgage if: (a) Borrower paye Lender all suma which would be then due under thie Mortgage, the Note and notes securing Future ~ Advances, if any, had no aoceleratio~ occurred; (b) Borrower curea aU breachee of any other covenanta or agreements of Borrower contained in i this Mortgage; (c) Borrower paye all reaeonable e~penees incurred by Lender in enforcing the oovenante and agreementa of Borrower ' contained in this Mortgage and in enforcing Lender's remediee aa provided in paragraph 18 hereof, including, but not limited to, reaeonable ; attorney s feea; and (d) Borrower takea euch action as Lender may reasonably require to aseure that the lien of this Mortgage, Lender'e interest in the Peoperty and Borrower's obligation to pay the aums eecured by thia Mortgage eh all continue unimpaired. Upon auch payment and care ~ ~ by Borrower, thia Mortgage and the obligationa eecured hereby shall remain in full force and effect as if no aoceleration had occurred. : r Z0. Aseignment otRents; Appointment of Aeoeiver. Aa additional eecarity hereunder, Bormwer hereby sesigna to Lender the renta ~ of the Property, provided that Borro~ver ahall, prior to ecceleration under paragraph 18 hereof or abandonment of the Property, have the right to colled and retain eaeh renta ae they become due and payable. ~ Upon acceleretion undrr paregraph 18 hereof or abandonment of the Property. Leader ehall be entided to have a rn~eiver appointed by a ~ oourt to enter.npon, take posseseion of and manage the Property end to coUect the rente of the Property, including thoee paat due. All renta oollected by the receiver shell be applied fust to payment of We oosts of management of the Property and oollection of rente, inclading, bnt nat limited to, receiver's fe~, premiums on reoe~ver's bonda and reasonable attomey's feee, and then to the aums secured by this Mortgage. The receiver shall be liable to aooount only for thoee rente ectually received. " 5 soax 295 P~f " 582 : ~ ~ - ~ ~ ~ 2 ~u_. _ .r Yr-_ r~~ ~.,~:_u -