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Home My WebLink About0702 • ? r • ; 8. ln~pectlon. Lepder may make or cawe to bs made reawnsble entria~ upon eiad inspectiona of the$r'operty. provided that Lendar shaU give Bormw~ aotica pri~ to auY such uupectioa ~pecifj?ini reaioaable ca~ue theref~ related b Lender's interat ia the Propedy. 9. Condemnatloa.l!?e pmoead~ of aay award or daim for dama~e~„ direct or outueq~ential. in oonnectioa with any oondemnation or other talriu~ of the pmpetty. ot pait tl~reof. or fa~ conveyanae in lieu of ooad«anatioa, sre hereby ea~i~ned snd ~hall bs paid b I,ender. Ia the event oi a total tekin~ of the Propetty. the prooeed~ sha11 be aPplied to the sums ~ecured by thi~ Mort~a~a We esoe~s, If any. paid to Borrower. In We eveat of a partial takint of the Peeparly. nnlea Borro~rer and Lender oWerwi~s agree in writin~. there ~haU be applied tfl the oum~ sscured by tbis Mari~a~e anch proportioa ot the prooeed~ a~ iu equal to Wat proportioa which We amo~wt of the swri~ secured by this Mort~age immediately prior to We date of ta~ins bean ~o tbe fair markd vslue of the Peoperty immediately prior to tbe dats ot tsl~inB. with the be~l~noa of the proceeds psid ~o Borrower. i If the Prope+rty is abandoned by Borrower. or i~ aRer notice bY Lei?der to Borruwror that the ooademnor o~en Lo make an award or settle a cleim for demage~. Borrow?er fails to respond b~Leader within 30 days aEt,er tho date such notioe is mailed. Le4der ie authorised to rnUect aad epply the procaed~. at Lender's option. either to redoration oc repair of the property ~ to the sums secnred by thia Mortgage. i Unlesa Leader and Borrower oWer~ri~e sgree in writin6. any sn~ applicatiar of pmceeds to principal shaU not utend ~ poetpone the due date of the monthly inatallmenb nferred ~o in paregraphs 1 end 2 hasof or chaage the amount of such inatallmenb. 10. Borrower Not Releaaed. E:tension of the tiaae for paym=nt a~ modi5cation of amortization of the suma secund by this Mortgage granted by I.~de~ to any suooee~ur in interest of Borrower ahaU not operafe b nlease, in any maaner. the liability of the original Borrower ~ and Borrower s succeasors in interast I.eoder shall not be reqaired to aommence proceedinge against such auocessor or refuse to e:tend time for payrment or otherwiee modify amortization of the swns aecured bY this Mo~tgage by reason of any demand made by the original Borrower and Borrower s aucceasots in interest. 11. Forbearaaoa by Lender Not a Wdver. Any forbearance by I.ender in e:ercisin8 any ri8ht or remedy hereunder. or otherwise - afforded by appticable law. s1?all not be a waiver of or preclude the ezercise of any auch right or remedy.'lUe pmcurement of insuranoe or the paymeat of teaes or other liens or charBes by I.~nda ahall not be a w+aiver of I.ender'a right to aocelerate the maturity of the indebtednees eecured by this Mortgage. 12. Remedies Cumuletive. All remediee ~ovided in thia MatBage are distinct and cum~lative to aay other cight or remedy und~ this = Mortgage or afforded by law or eqnity. and m~y be ezercise~i ooncurrendy. indepeadenHy or enooeeaively. - 13. Successors and Msigns Bonnd; Joint and Several Liabillty; Captions.'17ie covenants and agreement8 herein oontained shaU bind. and the righta hereunder ahall inun to. the respective succesaois and assigas of L,ender and Borrower. subject to the provisions of paragraph 1T hereof. All coveasnts and agreemai4 of Borrower shall be joiat and sevetal.'l~e captione and headinga of the paragrephe of thia Mortgage are for oovenience oaly end are not to be used to interpret or define the proviaions hereof. 14. Notice. Ezcept for any notice required under applicable law to be givw in another manaer, (a) any notice to Borrower provided for in thie Mortgage ahaU be given by mailing snch ~otice by certi5ed mail addreaaed to Borrower at the Property Addreea or at such other addrese as Borrower may deaignste by notice to Lender as provided hem.in, aad (b) aay notice to Lender shall be given by certified mail, return reoeipt requeated, to Lender'a addreea stated h~ein or to such other address as Lender may deaignate by notice to Borrower as provided henin. Any notice provided for in this Mortgage shall be dcemed to have been given to Boemw~ or Leader when given ia the manner deaignated herein. 15. Unitorm Mortgage; Governing I.aw; 3everabillty.'l~is form of mortgege combines nniform oovenante for aetional use and non- uniform covenants with limit~ed variationa by jurisdiction to oonstitute a nniform eecurity instrument oovesing real prope:ty.'Riie Mortgage ~ shal) be governed by the law of the juriediction in which the Property ia located. In the event that any pmviaion or clauee of this Mortgage or the Note contlicts with applicable law. auch conilict shaU not a~ect other proriaiona of this Mortgage or the Note which can be given effect ~ without the oonAicting pmviaion, aad to this end the provisioas of the Mortgage and the Note are declared to be aeverable. 16. Borrower'e Copy. Boirower ehall be furnished a coaformed oopy of We Note and of thie Mortgage at the time of ezecution or after recordation hereof. ' - 17. 7Yansfer of the Property; Assamption. If all or aay part of the Property or an in~ereet therein ie sold or traneferred by Borrower without Lende~e prior written consent, e:clnding (a) the creation of a lien or encumbrance eabordinate to Wia Mortgage, (b) the creation of a • purchaee money eecuurity in~t for household appliancea. (c) s transfer by deviee, deecent or by operation of law upon the death of a joint ; tenant or (d) the grant of any leaeehold iaterest of three years or lees not wntaining an option to purchase, Lender may, at L,ende~e option, : declare all the sume secured by thia Mortgage to be immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or tranefer, Lender and the pe~son to whom the Property is to be sold or transferred reach agreement in writing that the rredit of ench peraon ia satisfactory to I.eader and that the interest payable on the anms secured by this Mortgage shall be at such rate as Lender ehall request. If Lender has waived the option to socelerate provided in this para8raph 17. and if Borrower's auccessor in interest has e:ecuted a written asaumption agreement accepted in writinB by Lender, Lender8hall releaee Borrower from all obligationa under thia Mortgage and the ~ Note. ; If I.end~ e~cercisea auch option to accelerate, I.end~ shall mail Borrowrr notice of soceleration in aocordance with paregraph 14 hereot ~ Such notice ahall provide a period of not lesa than 30 ciays from the date the notice ia mailed within which Borrower may pay the aums declared ~ due. If Borrower fails to pay auch sums prior to the ezpiration of such period. Lender may, without further notice or demand on ~3orrowa, j invoke any remediea permitted by paragraoh 18 hereof. ~ ~ i ~ 18. Aoceleration; Etemedies. Ezcept aa provided in paragraph 17 hereof. upoa Borrower's breach of any oovenant or ~ agreement of Borcower in this b~ortgage, inclading the oovenaets to pay when due any suma secured by thie Mortgage, Lender prior to aoceleration ehall mail notice to Borrower se provided in paragraph 14 hereof epecifying: (1) the breach; (2) the action ~ required to cure such breac6; (3) a date, not lesa than 30 days from the date the notice is mailed to Borrower. by which snch ~ breach muet be cured; and (4) that failnre to cure wch breac6 on or before the date specified in the notice may result in acceleration of the sams secured by this Mortgage, forecioeure by jndicial proceeding and sale of the Property. The notice shall further inform Borrower of the rigbt to reinstate aRer aoceleration and the right to aseert in the foreclosure proceeding t6e • non-ezistence of a default or any other def.ense ot Borrower to scceleration end forecloeure. If the breach ie not cnred on or before the date apecified in We notice, Lender at Lender's option may declare aU of tLe suma secvred by thie Mortgage to be immediately due and payable without further demand and may foreclose this Mortgege by judicial proceediag. Lender shail be entitled to oollect in such proceeding all e:penaes ot foreclosure, including. but aot limited to. reaeonable attorney'e fees. and coate of documentary evidence, abstracts and title reporte. ~ 19. 8orrower's Rig6t to Reinetate. Notwithatanding Lender's aooel~ation of the anma eecared by thie Mortgage, Borrower ehall have the right to have any proceedinga begun by Lender to enforoe this Mortgage discontinued at any time prior to entry of a judgment enforcing thia Mortgage if: (a) Borrower pays I.ender all anms which woald be then due under this Mortgage, the Note and notes securing Fuhve Advancea, if any, had no acceleration oocurred; (b) Borrnwer cvres all breachea of any other covenanta or agreements of Borrower oontained in this Morlgage; (c) Borrower pays all reasonable ezpensea incarred by I.ender in enforcing the covenant8 and agreementa of Borrower oontained in this Mortgage and in enforcing Lender'a remediea aa provided in paragraph 18 hereof, including, but not limited to, reasonable ° attorney's feea; and (d) Botrower takee anch action se Lender may reseonably require to assure that the lien of thia Mortgage, Lender'e intenst ~ in the Property and Borrower a obligation to pay the auma eecured by thie Mortgage ehaU continue unimpaired. Upon such payment and cnre ~ by Borrower. thia Mortgage and the obligations secnred hereby aha11 remain in fiill force and effect as if no aoceleration had occurred. ~ 20. Aesignment of Renta; Appointment o! Receiver. As additional eecurity hereunder, $orrower hereby aesigas to Lender the r~ts ~ of the Property. provided that Borrower ahall. priar to socel~ation nnder paragraph 18 hereof or abandonment of the PropeKy, have the right ~ to coIIed and retein snch renta as they become due and payable. ~ Upon aooderation under paragraph 18 hereof a~ abandonm~t of the Pmperty, I~nder ahsll be entided to have a receiver appointed by a oourt to enter npon, take poeseasion of and manage the Property and to oollect the rents of !he Property, including thoee past due. All rente coUected by the receiver ahall be applied first to payment af the ooeta of management of the Property and oollection of renta, including. but not limited to, reoeiver'a fees, premiume on reaeiver's bonde aad reasonable attomey'a tees, and then to the suma secured by this Mortgage. The i receiver ahall be liable to aooount only for those reate actually recxived. { i - t i BD(~ ` ~ ~ - - - ..~.a~--_ , _ r.-,