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Home My WebLink About0881 • • , . ~ 8. Ia~pectlo4. Let~der may make or cawe eo be mede reawaabls entrie~ upoa end iaspection~ of the property, provided thet Lad~ ~hell ~ive Borrower notios prior to any euch irupection specityinQ reawaable cawe thersfor related to Lend~'~ interest in the Propert,y. 9. CondemnaUan.'I~e prooeed~ of any award or cleim for damages. disrect or cotusquentiel. in coanectioa with any ooadannetioa or other takin` of the proD~y. or part tbereot. or f~ oonv~yaqp iu lieu of oqada~nns~ioa, are bereby sa~i~aed and ~hall be paid to Lender. In the eveAt of a total takin~ of the Property, the proossds shsU a applied t~ ~ wau ~ecured by this Mortgage, with the e=oe~a, ii any, psid to 8orruw~er. In ebe eveat ot ~ partial takin~ ot ths Peop~y. ualea Boriowrer aad I.ender otheiwiee aQree in ~vrit~in~, th~re ~haU be applied to the suuu ~ecured by thi~ Mott~a~e ~uch proportion of the proceed~ eu i~ equal to that proportioa wrhich the amouAt of the sum~ ~ecured by thi + Mwt~aQe immediRtely prior to the date of takin~ beu~ to the fsi~ market vslue of the Propetty immediately prior to the date of tatinQ. with the balaacb ot the proceed~ paid to Horro~ves. If We Properf,y is ab~doned by Aorrower. or if, aRer notios by I~nder b Borrowes that !he ooadema~ offers to make an awerd or ~etde a claim for dama~ea. Borrower faiL b re~pond to I.ender ~vithin 30 day~ after the date ~uch aotice is mailed. Lender is authosised to oollect and ~PP~V ~e Proceed~. et Lender's option. eith~ to restoratioa or repair of the pmpert,y o~ to tha ~ums secured by this Mort~age. Ualess Lend~ and Borrower otheiwi~e agree in writing, eny such application of proceed~ b priaaipahball not eztend or pwtpone We due date of the moathly installment~ referred to in paragraphs 1 snd 2 hereof or change the amonnt of such installment~. 10. Borrower Not Releaied. Fa~tension of the time for payanant or modification of amortisation of the suma.ecured by this Mortgage granted by Lendcr to any succeasor ia intereat of Borrower shall not operate b releaee. in any menner. the liability of the original Borrower and 13ortowa's auccessore in iuteeest Lender shall not be required !o wmmeaoe proceedings against euch suoceeaoT or refuse to e:tend time for payment or otherwise modify amortisation of the auma eecured by thia Mortgage by reason of any demand made by the original Borrower and Borrower s successors in intereet. 11. Forbearunoe by Leodet Not a Ntaiver. My forbearance by Lender in e:ercising any right or nmedy hereunder. or othe:wiae afforded by applicable law. shall not be a waiv~ of or preclude the ezercise of any euch right or nmedy.'11~e proc~rement of inswanoe or the payment of t~es or oth~ liens or chargea by Leader shall aot be a waiver of Lender'~ right to aooelerate the maturity of the indebtedneas eecund by this Mortgage. 12 Remedies GtimulRtlve. All nmedies provided in lhis Mortgage are diatinct and cumulative to any other right or remedy under this Mortgage or afforded by la~r or equity. and may be ex~risc+l o~ncwrrently, independendy oF suoceaaively. 13. S~wcessor~ and AsaIgns Bound; Jolnt and Several I.iabilIty; Captions.'flfe ooveaaate and agreemenfa herein oontained ahall bind, and the rights hereunder ahall innre to. the respective eua~eeeors and asaigns of I.ender and HorroweT. eubject to the pmvisions of paragraph 1? hereof. All rnvenadts and agreementa of Bormwer ahall be joint and several. The captions and headings of the paragraphs of this Mortgege are [or rnvenieace only and an not to be ueed to interpnt or define the provisions hereof. 14. Notice. Escept for any notice required under applicablelaw to be given in another mannez, (a) any nu :ee to Borrower pmvided for in this Mortgage ahall be given by mailing euch notice by certi5ed mail addreseed to Borrower at the Property Addreae or at auch other addrees ae Borrower may deeignate by notice to Lender es provided herein, and (b) any notice to Lender shall be given by certified mail, return reoeipt requeated, to Lender'a addreae stated herein or to such othet addreee as L.ender may designate by aotioe to Borrower aa provided henin. My notice provided for in thia Mortgage ahall be deemed to have been given to Borrower or Lender when given in We manner deeignated herein. 15. Uaiform Mortgage; Governing Law; 3everability. Thia fornn of mortgage oombines uniform oovenants for national uee and non- uniform covenanta with limited variations by juriediction to oonstitute a uniform security instrnment rnvering real pmperty.'ll~is Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the event that eny provisioa or clause of this Mortgage or the Note conllicta with applicable law, such conflict ahall not affect other pmvieiona of thie Mortgage or the Note which can be given effect withou; the aonflicting provision, and to thia end the provisiona of the Mortgage and the Note are declared to be eeverabl~ 16. Borrower's Copy. Borrower shall be furnished a oonfoimed oopy of the Note and of Wia Mortgage at the time of ezecution or after recordation hezeof. - . 17. Traneter of the Property; Asaumption. If all or any part of the Property or an inLenst thenin is eold or transferred by Borrower wiWout Lender's prior written oonsent, escluding (a) the creation of a lien or encumbranae subordinate to thia Mortgage, (b) the creation of a purchase money security intereat for hoasehold appliancea. (c) a branafer by devise, deaoent or by operation of law upon the death of a joint tenani or (d) the grant of any leasehold interest of three years or lea8 not oontaining an option to purchaee, I.ender may, at Lender's option, declare all the sums eecured by thia Mortgage to be immediately due and payable. I.ender ahall have waived such option to socelerate if. prior to the sale or transfer, Lender and the pereon to whom the Property ia to be sold or tranaferred reach egreement in writing that the credit of such ~ peraon ia satisfactory to Lender and that the intereet payable on the euma eecured by thia Mortgage shaU be at such rate as Lender ahall request. If Lender has waived the option to socelerate provided in thie paragraph 1T, and if Bor:ower's auccessor in intereat haa e:ecuted a written asaumption egreement socepted in writing by Lender, Lender shall release Borrower from all obligations under this Mortgage and the Note. ( lf Lender e~cerciaee such option to accel~ate, Lender ehall mail Borrower notice of aoceleration in aocordance with paragrap614 hereoL ~ Such notice ehall provide a period of not lese than 30 daya from the date the notice ia mailed vrithin which Borrower may pay the suma declared due. If Borrowef faila to pay such auma prior to the e:piration of auch period, Lender may, withont further notioe or demand on $orrower~ ° invoke any remediea permitted by paragra~h 18 hercof. ~ I 18. Aoceteration; Remedies. Ezcept ae provided in paragraph 17 hereof, upon Borrower's breach o! any oovenant or ~ agreement of Borrower in t6ia Mortgage. including t6e oovenanta to pay w6en due any snms sewred by thie 11~ortgage. I.eader prior to aoceleratian shall mail notice to Borrower ae provided in paragrap614 bereof specifying: (1) the breach; (2) the actioa ~ required to cnre such breach; (3) a date, not lee8 t6aa 30 days trom the date the notice is mailed to Borrower. by which mch ~ breach must be cared; and (4) that failure to cure suc6 breac6 on or before the date specified ia t6e notice may result in acceleration of the euma eecured by thie Mortgage, foreclosure by judicial prooceding and sale of W e Property. The notice ehall ~ further inform Borrower of the right to reiastate after acceleration and the ri~ht to assert in the forecloenre procceding the non-ezistence of a default or any other defense of Borrower to soceleration and foreclosure. If the breach ie not cured on or " before t6e date specified in the notice, I.eader at I.ender's option may declare all of the sums aecured by thia Mortgage to be ~ immediately due and payable without further demand and may foreclose thie Mortgage by judicial proceeding. Lender shall be entitled to oollect in auch proceeding alt expenaes of forecloaure. including, but not limited to, reaeonable attorney's fees. and ~ costs of document ary evidence, abstracte and title reports. 19. Horrower'e Rig6t to Reinstate. Notwithatanding Lendei a acceleration of the suma secured by thia Mortgage, Borrower ahall have the right to have any proccedings beg~n by Lender to enforce thia Mortgage discontinued at any time prior to entry of a jud gment enforcing this Mortgage if; (a) Borrower pays Lender all suma which would be then due ander :.hi~ ::'latigage, the Note and notee eecuring I~ture ~ Advancea, if any, had no acceleration occurred; (b) Borrower curee all breaches of any other oovenenta or agreemente of Borrow~ oontained in ~ thia Mortgage; (c) Borrower pays all reaaonable expenses incurred by Lender in enforcing the ooveaante and agreementa of Bortower ~ oontained in thia Mortgage and in enforcing I.ender e remediee aa provided in paragraph 18 heceof, including, but not limited to, reasonable ~ attorney's feea; and (d) Borrower takee anch action as Lender may reasonably require to asaure W at the lien of thie Mortgage, Lender'e intereat ~ in the Property and Borrower'e obligation to pay the same secure.i by thia Mortgage shall rnntinue unimpaired. Upon euch payment and cure ~ by Borrower. thia Mortgage and the obligations secured hereby ahall remain in full force and effect ae it no aooeleration had oocnrred. 20. Assignment ot Rents; Appoiniment of Receiver. Ae additional eecurity hereunder, Borrower hereby asaigns to I.ender t6e rents ~ of the Property, pmvided that Borrower shall, prior to aooeleration under paragraph I S hereof or abandonment of the Property. have the right P to rnUect and retain snch rents aa they become due and payable. ~ Upon acceleration under peragraph 18 hereof or abandonment of the Property, Lender shall be entided to have a receiver appointed by a ~ ooiut to enter~pon, take poeaesaion of and manage the Property and to oollert the rents of the Property, including those paet dne. All renta ~ oollected by the receiver ahall be applied first to payment of the ooets of management of the Property and ooUection of rents, inclwjing, bnt not ' ~ lioited to, receiver's fees, premiums on receiver's bonde and reasonable attorney'e feee, and then to the eume eecured by this Mortgage. The ! ~ receiver shall be liable to aooount only for thoee rente actually received. ' ~ ~ ~ ~ t~ ~ eooK 2~u Pa6E 8~ ~ ~ . . _ _ . _ - a ~ ~~t~~~~~.~~~ ~ ~ ~ _ ~:~~--~~.~.4.x ' _ ..-t ,