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Home My WebLink About0535 . . • . . - . . , 8. laspection. I.ender may make or cause to be made reawnable ientrie~ upoa and inspectionr o[the property, pmvided that l.ender shall give Borrower notice prior Lo any such inspe~ction specifrinQ ~~?wnable cause therefor related to Lender'~ intereat i~ the Propecty. 9. Condemnattoa.ll?e pmceeds of any award ot claim for dama~es, direct or con~equenpai. in con~ec~iun wiEh any aondemnation or other taking of the pmperty. o~ part thereof, or for conveyancs in lieu of oondemnation. are hereby aasigned and ~haU be paid to Lender. In the eveat of a total taking of the Property. the prooeeds ~ha11 be applied to the ~ums secured by this Mortgag0. ~e ii any, ; paid to Borrower. In the event of e partial taking of the Proper4y. unleas Borrower and Lender otherwi~e agree in writing. Were ~hall bc appGed to the sume secused by thia Mortgage such proportion of the proceeds aa is equal Lo thst proportion which the amount of the sums . aecured by this Mortgage immediately prior to We date of taking bean to the fair market value of the Property immediately prior to the date of f tsking. with the balanoa of the proceeds paid to Borrower. ° If the Property is abandnned by Borcowes. or if. aRer notice by Lender w Borrower that the condemnor offen to make an aw~ard or settle a ~ claim for damagea. Borrower fails b respond to Lender within 30 days after the date such notice ie mailed. Lend~ is authorized to collect aad ~ apply the proceede. at Lender's option. eith~ to restoration or repair of the prop~ty or to the eums aecured by this Mottgage. + Unleas I.ender and Borrower oW erwise aBree in writinB, anY snch applica4on of proceeds to priacipal ahall not e:teAd or postpone the due date of the monthly installmente referred to in peragraphs 1 and 2 hereof or change the amount of euch instaUmenta. i 10. Borrower Not Released. Exteasion of the time for paym~at or modification of amortization of the euma secured by thie Martgage ; granted by I.ender to any aucceeeor in interest of Borrower shall not operate to releaee. in anY manner. tha tiubiiii~ ~f it:~ a:s:r:s': °~'r~*'ar ; and Borrower a euCCeseors in interee~ I.ender ehall not be required to commence proccedinga againet euch suecesaor or refuae to e:tend time i for payment or otherwiae modifY ainortizetion otthe aums securtd by thia Mortgage by reaeo~ of any demand made by the original Bonower f and Borrower s auoceseora in interes~ ~ 11. Forbearance by Lender Not a N?aiver. My forbearance by Lender in e:ercising any right or remedy hereunder. or otherwise afforded by applicable law, shall not be a waiver of or preclude the eserciee of any such right or remedy.'I1~e procnrement of inaurance or the ; payment of ta:es or other liens or charges by Lendee shall nqt be a waiver of Leader's right ta accele~ate the matnrity of the indebtedness ~ secured by thia Mortga8e• ' i 12. Remediee Cumulative. All remedies provided in this Mortgage are dietinct and cumulative to any other right or nmedy under this ~ Mottgage or afforded by law or equity. and may be ezercise~l ooacurrendy, independently or succeeaively. ~ 13. 3ucceseore and Aseigns Bound; Joint and 3everal I.iability; Captions. The oovenant8 and agreemente herein contained shall bind, and the rights hereunder ehall inure to. the nspective eucceeeors and seeigns of Lender and Borrower, aubject to the pmvisions of paragraph 17 6ereof. All rnvenant8 and agreementa of Borrower ehall be joint and sev~al. The captions and headings of the paragraphs of this Mortgage are for covenience only and are not to be ueed to interpret or define the provieione hereof. ~ 14. Notice. Eicept for any notice reqaired under applicable law to be given in another manner, (a) any notice to Borrower provided forin ! thie Mortgage shall be give~ by mailing euch notice by certified mail addreseed to Borrower at the Property Addreas or at such other addrees ae Borrower may deaignate by notice to I.ender as pmvided herein. and (b) any notice to Lender shall be given by certified mail, retura receipt requeated, to Lender's addreas etated herein or to such other addrese se Lender may designate by notice to Borrower as provided herein. My notice provided for ia this Mortgage shall be deemed Lo have been given to Borrower or Lender when given in the manner deaignated herein. ; 15_ Unitorm Mortgage; Governing I.aw; Severability. This form of mortgage combines uniform covenanta for nationsl uee and non- uniform covenants with lunited variationa by juriadiction to aonetitute a uniform security instrwnent oovering real property.'l7iis Mortgage shall be governed by the law of the juriadiction in which the Property ia located. In the event that any proviaion or clause of this Mortgage or the Note conilicts with applicable law, such conflict ahall not affect other provisiona of this Mortgege or the Note which can be given egeet without the conflicting provieion, and to thia end the proviaions of the Mortgage and the Note are declared to be severable. 16. Borrower's Copy. Borrowe* sha11 be furniahed a oonformed oopy of the Note and of this Mortgage at the time of e~cecution or aRer recordation hereof. 2?. 'l~t~nsfer ot the Property; Aesumption. If all or any part of the Property or an intereat therein is sold or tranaferred by Borrower without Lendet's prior a%ritten consent, ezcluding (a) the creation of a lien or encumbrance subordii?ate to thia Mortgage, (b) the creation of a purchase money security intereat for household appliances, (c) a transfer by deviae. deecent or by operation of law upon the death of a joint ; tena~t or (d) the grant of any leasehold intereat of three yeara or leaa noE oontaining an option to purchase. Lender may, at Lender's optioa, ; declare all the suma eecured by this Mortgage to be immediately due and payable_ Lender ahall have waived auch option to accelerate if. ptior to the saip or trar.sfer, I.ender and the peraon to whom the Property ia to be sold or tranaferred reach agreement in writing that the credit of auch person ia satisfactory to I.~nder and that the interest payable on the aums aecured by this Mortgage shall be at such rate as Lender ahall requeat_ If I.ender has waived the option to accelerate provided in thia paragraph 17, and if Botrower s succeesor in intereat hae eaecuted a ~,;:Y;r_~~ ~,~ment accepted in writing by Lender, l.ender ahall releaae Borrower from ali obligations under thia Mortgage and the Note. If Lender exercisee such option to accelerate, I.ender shall mail Borrower notice of acceleration in socordance with paragraph 14 hereoL E Such notice ahall pro~ide a period of not less than 30 days from the date the notice ia tiailed within which Borrower ira~ ~a:; ~ o:::~° 3eclared f due. If Borrower fails to pay such sums prior to the expiration of such penod, Lender may, without further notice or demand on Borrower. j invoke any remediea permitted by paragraoh 18 hereof. ` 18. Acceleration; Remediee.. Ezcept as providEd in psragt'aph 1? h~reof. apon Borrower'e breach of any oovenant or ~ agreement of Borrower in this liSortgage, including the oovenante to pay when due any sume aecured by thia Mortgage, I.ender ~ prior to acceleration ahall mail notice to Borrower ae provided in paragraph 14 hereof epecifying: (1) the breach; (2) the action required to cure euch breac6; (3) a date, not leae than 30 daye trom the date the notice ie maited to Borrower, by which such + breach must be cured; and (4) that failure to cure auch breach on or before the date specified in the notice may result in acceleration of t6e sums secured by thie Mortgage, foreclosure by judicial proceeding and sale otthe Property. T6e notice shall further inform Borrower of the right to reinstate after acceleration and the rig6t to aesert in the foreclosure proceeding the non-esistence of a default or any other defense of Borrower to aoceleration and forecloeare. If t6e breach ia not cured on or before the date apecified in t6e notice, Lender at Lender's option may declare all ot the euma secured by this Mortgage to be immedietely due and payable without further demand and may foreclose this Mortgage by judicial proceeding. Lender ahall be entitled to collect in euch proceeding all ezpenaee of fArecloaure. including, but not limited to, reasonable attorney's feea, and costa of documentary evidence, abetracts and title repotte. 19. Borrower'e Right to Reinatate. Notwithatanding Lendei s soceieration of the aume eecured by thie Mortgage, Borrower ehall have the right to have any prooeedinge begun by Lender to enforce thia Mortgage diacontinued at any time prior to entry of a judgment enforcing this Mortgage if: (a) Borrower paya Lender all suma which would be then due uader this Mortgage, the Note and notea securing F~ture ~ Advancea, if any, had no acceleration occurred; (b) Borrower cures all breaches of any ofher rnvenante or agreementa of Borrower rnntained in thie Mortgage; (c) Borrower pays all reasonable expeneea incurred by Lender in enforcing the oovenants and agreements of Borrower ~ contained in this Mortgage and in enforring Lender'e remedies as provided in paragraph 18 hereof, including, but not limited to, reasonable = attomey's feee; and (d) Borrower takes auch action as Lender may reaeonably require to seaure that the lien of thia Mortgage. Lender'e interes~ i~ _ in the Property and Borrower's obligation to pay the auma secured by this Mortgage ahall continue unimpaired_ Upon auch payment and cure ~ by Borrower, this Mortgage and the obligations eecured hereby shall remain in full force and effect ae if no acceleration hed oocnrred. ~ ~ 20. Asaignment of Rents; Appolntment of Receiver. As additional eecurity hereunder. Borrower hereby assigne to Lender the renta ~ of the Property, provided that Borrower ehall, prior to acceleration under paragraph 18 hereof or abandonment of the Property, have the right ~ to rnllect and retain anch rente ae they become due and payable. : Upon acceleration under paragraph 18 hereof or abandonment of the Property, Lender ahall be entided to have a c~eceiver appointed by a oourt to enterapon, take posseseion of and manage the Property and to collect the rente of the Property, including thoee paat due. All rent8 ~ collected by the receiver ehaU be appiied first to payment of the oosta of management of the Property and collection of reuta, including, bnt not limited to, n~eeiver's feee, premiume on reoeiver's bonds and reasonable attorney's fees, and then to the sums aecured by this Mortgage. The ~ receiver ahall be liable to acoount only for those rents actually t+e<•xived: ~ ~ ~ ~ go~K 298 - 535 ~ ~ ~ - - - ~ . ~'x~ qx ~ _ =~~~"~~°'~-rtl~ ~~'y _ _