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Home My WebLink About0608 , A • ~ ! ~ , ~i , f 8. la~peMloa. [.epder may make or cause W be made reu~onsb~istrie~ upon sud in~pections of the property, provided that Lender shall ~ give Borrower notice prior to any euch inapection specifying reaaonable causs therefor relsted eo Lendei ~ inte~est in the Property. ' 9. Coademinatioa. The pmceeds of any award or clsim for daanages, direct or consequential. in coanectioa with any oondemnation or other taking of the pmperty, or part thereof, or for conveyanoe iA lieu of oondemnation. are henby a~aiQned aad ~hall be paid W Lendas. In the event of a t~tal taking oi the Property, the pmceeds shaU be applied to the suma secured by thi~ Mortgag0. ~~h the ~cas. if any. + paid to Borrower. In the eve~t oI a psrtial taking o! the Property, unles~ Borrowa and l.end~ other~vise agree in writi~. there shaU be r applied to the sums secured by this Mort~age such p~opoction of fhe prooeed~ as ia equal to that proportion which the amount oi the same . eecured by this Mortgage immediately prior to the date of takiag bears b the fair market value of the Properiy immediately prior to the date of taking, with the balan~ of the proceeds paid to Bono~ver. t If the Prop~ty ia abandoned by Borrower, or if. aRer notice by I.e~der to Borrower that the oondemnor oHers b mahe an award or settle a claim for dameges. Borrower fails b respond to Lender withi~ 30 days after the date such notice is mailed, I.ender is autho~zed to rnQect and apply tha pmceeds. at Lender s option. athar to restoration or repair of the property or to the sums aecured by this Mortgage. t Unleas Lender and Borrower otherwise agree in writing, aay auch application of proceeda to principal shall not e:tend or postpone We dae ; date of the monthly iastallments referred to in paragraphs 1 and 2 hereof or change Lhe amount of such inetallmeats. s 10. Bormwer Not Released. E:tension of the time for paymsnt or modification of amortization of the sua?e eecured by this Mortgage granted by L.ender to any aucceaeor in interest of Borrower ehall not operate to releaee, i~ any manner, the liability of the original Borrower ~ and Borrower'a aucceasore in intereai l.ender shall not be required to oommence proceedings againet auch suceeseor qr refuse to e:teud tiane for payment or otherwise modify amortization of the suma secured by this Mortgage by reason of any demand made by the original Botrower ~ and Borrower's aucceasore it~ interes~ 11. Forbearance by Lender Not s R/elver. Any forbearance by Lender in e:erciaing any right or remedy here~nder. or otherwise a~forded by applicable law, shall not be a waiver of or preclude the e:erciee of any snch right or remedy. The procurement of ineurance or the payment of taaes or other liens or chargee by Leader ahall not be a waiver of Lendei s right to aocelerate the maturity of the iadebtedneas secured by this Mortgage. ` 12 Remediee Cumulative. All remedies pmvided in thia Mortgage are diatinct and cumnlative to any other right or nraedy under this ! Mortgage or afforded by law or equity, and may be e:erciee~i ooncurrently, indq~endeqtl~t or suoceseively. ; 13. Snccessore and Aaeigns Bound; Joint and 3everal Liabiltty; Captions.'[Ue oovenents aad agr~ementa herein contained ahall ; bind, and the rights hereunder ahall inure W, the reapective succeseors and aseigns of Lender and Borrow~. eubject to the pmvisiona of ~ paragraph 17 hereof. All covenants and agreemente of Borrower ehall be joint and eevernl. The captione and headinge of tite paragraphs of this Mortgage are for covenience only and are not to be ueed to interpret or de5ne the proviaione henwf. 14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addreased to Borrower at the Property Address or at such other addreee aa Borrower may designate by notice to Lender aa provided herein, and (b) any notice to Lender shall be given by certified mail, return receipt requeated, to Lender's address stated herein or to such other addrese ae Lender may deaignate by notice to Borrower aa pmvided herein. My ` notice provided for in thia Mortgage ahnll be deemed to have been given to Borrower or Lender when given in the manner designated herein. f 15. Uniform Mortgage; Governing Law; 3everability.'17~ia form of mortgage combinea uniform oovenante for national use and non- ' uniform covenants with limited variationa by jurisdiction to oonetitute a uniform security inatnuuent aovering real pmperty. This Morigage shall 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 conflicta with applicable law, such conflict shall not affect other pmvisions of this Mortgage or the Note which can be given effect without the contlicting provieion, and to this end the provisions of the Mortgage and the Note are declared to be eeverable. . 16_ Borrower's Copy. Borrower shall be furniahed a conformed oopy of the Note and of thia Mortgage at the time of e:ecution or after recordation hereof. - ~ 17. Transfer of We Property; Aesumption. If all or any part of the Property or an intereat therein ie sold or traneferred by Borrower = without Lender's prior written conaent, eacluding (a) the creation of a lien or encumbrance aubordinate to thie Mortgage, (b) the creation of a ~ purchase money security intereat for houeehold appliances. (c) a transfer by devise. descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or leaa not oontaining an option to purchase, Lender may, at Lender's option, ~ declare aU the sums aecurea by thia Mortgage to be immediately due and payable. Lender ehsli have waived such option to accelerate if. prior to the sale or tranafer, Lender and the person to whom the Property ia to be sold or tranaferred reach agreement in writing that the credit of euch ± peraon ia satiafactory to Lender and that the interest payable on the suma secured by this Mortgage shall be at such rate as Lender ehall i request. If Lender has waived the option to accelerate pmvided in thia paragraph 17. and if Borrower s succeasor in intereat haa eaecuted a written asaumption agreemeat accepted in writing by Lender, L.ender shall release Borrower from all obligationa under this Mortgage and the ~ Note. - i If L~nd~ e~cerciaea auch option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereoL ~ Such notice ahall provide a period of not tesa than 30 days from the date the notice is mailed within which Borrower may pay the auma declared ~ due. If Borrower faila to pay such sums prior to the expiration of such period, Lender may, without further notice or demand on Iiorrower, ~ invoke any remedies permitted by ptiragraoh 18 hereof. ~ F 18. Acceleration; Remedies. Ezcept es prnvided in paragraph 17 hereof, upon Borrower's breach of any oovenaat or ~ agreement of Borrower in thie Mortgage, including the oovenants to pay when due any sume secured by this Martgage, Lender i prior to aoceleration ahall mail notice to Borrower ae provided in paragraph 14 hereof specifying: (1) t6e breach; (2) the action } ~ ~ ~ required to cure suc6 breach; (3) a date. not leas than 30 daye from the date the eotice ie mailed to Borrower, by which ench ' ' breach muat be cured; and (4) that failure to cure Buch breach on or before t6e date specified in the notice may result in acceleration of the aume eerured by this Mortgage, foreclosure by judjcial proceediag and sale of the Property. T6e aotice a6a11 further inform Borrower of the right to reinstate after acceleration and the right to aseert in the foreclosure proceeding the non•ezietence o! a default or any other defense of Borrower to soceleration and foreeloaure. If the breach is aot cureid on or ~ before the date epecified in the notice. Lender at Lepder's option may declare all of the sume secured by thie Mortgage to be immediately due and payable without furtherdemand and may forecloae this Mortgage by judicial proceeding. Lender ahall be entitled to collect in auch proceeding all expenaes otforeclosure. including, but not limited to. reesonable attorney's fees. aad - costs of documentary evidence, abstracte and title reporte. 19. Borrower'e Right to Reinatate. Notwithatanding Lender's acceleration of the suma eecured by this Mortgage, Borrower ahall have the right to have any proceedings begun by I.ender to enforce thia Mortgage diacontinued at any time prior to entry of a judgment enforcing ~ this Mortgage if: (a) Borrower paya Lender all sume which would be then due under thie Mortgage, the Note and notes securing Future ~ Advancea~ if any, had no acceleration occurred; (b) Borrower curea all breaches of any other rnvenante or egreementa of Borrower rnntained in ~ thia Mortgage; (c) Borrower paya all maeonable expensea incurred by Lender in enforcing the covenants and agreementa of Borrower rnntained in this Mortgage and in enforcing Lender's remedies aa pmvided in paragraph 18 hereof, induding, but not limited to, reaeonable ~ attomey a feea; and (d) Sorrower takee auch action as Lender may resaonably require to aseure that the lien of thia Mortgage, Lender's interest in the Property and Borrower s obligation to pay the sums eecured by thia Mortgage ahall condnue unimpaired. Upon such payment and cure ~ by Borrower, this Mortgage and the obligationa eecared hereby ahall remain in full force and effect ae if no acceleration had occurred. 20. Asaignment of Rente; Appointmeat of fteceiver. Ae additional eecurity hereunder, Borrower hereby aseigne to Lender the renta ~ of the Property, provided that Borrower ahall, prior to aooeleration under paragraph 18 hereof or abandonment of the Property, have theright ~ to coUect and retain such rents aa they become dne and payable. ` Upon aa:eleration und~ paragraph 18 hereof or abandonment of the Property, I.ender ahall be entided to have a receiver appointed by a t ~ oourt to enternpon, take poaseseion of and manage the Property and to collect the rente of the Property, including thoee paat due. A11 rents } ~ oollected by the receiver shall be applied first to payment of the ooeta of management of the Property and oollection of renta, including, bnt not ~ limited to, receiver e fees, premiume on receiver's bonds and reseoneble attomey'e feea, and then to the aums eecured by thia Mortqage. The ~ receiver ahall be liable to acoount only for thoee renta actually received. • ~ ~ ~ ~~~rW ~ ~ ~ ~ ~ ~ ~ ~r'""-~~. ~'~~'z:."4~.P~~:.,.t..._.,.r y~....--_~._'{n . ' ~_z. v ~ e"~~.'~3`...e ~