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Home My WebLink About0011 k t . • ' • I C ~ , . . r 8. In~pection. l.ender may meke or cawe to bs made reawaabk ~atrle~ upoa aad i~p~ction~ oithe proper~y, provided that Leader ihall give Borrower aotics prior to any ~uch inspection ~pecifyinQ reawnable caws therefor related to Lender'~ interest in the Property. : 9. Condemnation.'lUe pmoeeds o[ any awud or claim for d~mage~„ direct ~ ooruequeatial. in con~ection with aay ooadeasnation or ~ othe: talria~ of the prope:ty. or part Wereol. or to~ oonveyaace in lieu o! ooade~r:ation. are he~eby a~si~ned aad shaU be psid b Lendes. ~ Iu the event oi a total taking of the Propedy, the procesd~ shall bs applied to the ~ums ~ecured by this Mortge~s, wi W tbe ezoe~a, if auy, paid to Borrower. In the eveat oi e partial taldn~ oi the l~opsrty. uales~ Bormwer and LeAder otherwi~e agres ia ~vritin~. there ~hall be } appUed to the auma ~ecured by thi~ MoTt~a~e ~uch proportioa of the pmoeed~ as u equal to that proportion which the amount of We ~unu i secured by thi~ Mort~a~e immediately prior to the dete oi talrin~ bsan to the fair markd vatue of the P~opeirty immediately prior to We date ot J takin~, with the balanee of the pcoceeds paid to Borev~rer. ' If the Property i~ abaadoned by Borrowaz. os if. aRer notioe by Iender to Borrow~ that We oonu~~or o~ers b make aa a~rard or ~ettie a claim for dsmeges. Borcower fails b rapoAd b Lender within 30 day~ after the date such notioe ia mailed, Lenda ia auehorir~ed to ooAect aad apply the proceed~. at Leader's option, e3the~ to re~toratioa or repair of the prope~rtg or to the sum~ secured by this Mortgage. ~ Ualess Lender and Borrower otherwiie aQree in ~vriting. any euch applicatioa of prooeed~ b prinapal shall not ~tend a~ postpone the due date of the moathly instaUmenta referred b in pesegraphs 1 and 2 hereof or chat~e ths amouat of such installmeats. ; 10. Horrower Not Released. Estension of the time [or p~ym~~t or modificatioa of emortization of the suma secured by thia Mortgage 1 grented by Lender b any euccessor in intereat of Borrower shaq not operate to release. in any manner, the liability of the original Borro~ver r and Borrower s saccessors in intereat Lender shall not be required to oommence pra.~eedings against such succesaor or refuse to eztend time ~ for payment or otherwiee modity a~,w~ ization of the sums eecured by thia Morigage by reaion of any demand made by the otiginal Borrower ~ and Borrower s succeseors in intee~i'. ~ 11. Forbeer~noe by Lender Not a Rialver. My forbearance by Lender in e~cercising aay iight or nmedy heraunder. or othenvi~e at'lorded by applicable la~v. ahall bot be a waiver of or preclude the e:ercise of any anch right or remedy.'1l~e procnrement of inanranoe or the ~ payment of tues or other tiens or charges by Lender shall aot be a waiver of Leadei s right to aooelerate the maturity of the indebtedne~s ~ eacurEd by chis Mortgage. ~ 12 Remedie~ Cnmulative. All r~medies provided in this Mortgage are diatinct and cumulative to any other right or remedy und~ thia ~ Mortgage or afforded by law or equity, and ma~y be exercise~i ooncurrendy. iadependently or suooesaively. 13. 3uocesson and A~sign~ Bouad; Joint and 3everal I.iabillty; Captions.'1T~e oovenanta aad agreements herein aontained ahall ~ bind, and the rights henunder shall inure to. the reapective euceeesors and aesigna of Leader ead Borrower. subject to the provisioaa of ~ paragraph 1~ hereof. Ap oovenants and agreemeats of Bormwer shall be joint and several. The captione and headings ot`the paragraphs of this Mortgage are for covenience only and an not to be uaed to interpnt or define the proviaions hereof. 14. Notice. Ezcept for any notice required under epplicable law to be given in another mannet, (a) any notice to Borrower provided for in this Mortgage shall be given by mailing euch notice by certified mail addreaeed to Borrower atthe Peop~rty Addreas or at such other address es Sorrower may designate by notice to Lender aa provided herein. and (b) any notice to L.ender shall be given by certified mail. return reoeipt , requested. to Lend~'s addreee atated herein or to such other address as Lender may designate by notioe to Borro~ver as provided herein. Any notice provided for in thie Mortgage ahall be deemed to have been given to Borrower or Lender when given in the manner d~ignated heieia. ` 15. Uniform ~ort~age; Governing I.aw; $everability. This fostn of mortgage oombines uniform oovenanta for national use and noa- $ uniform covenants with [imited variationa by juriadiction to aonstitute a uniform eecurity inatrument oovering real property.'Phie Mortgsge shall be governed by the law of the juriediction in which the Property is located. In the event that any proviaion or clanee of this Mortgage or k the Note contlicts with applicable law. such conilict ahall not affect other proviaiona of this Mortgage or the Note which can be given effect ~ without the oontlicting provision, and to thia end the pmvisione of the Mortgage and the Note are declared to be sevetable. ~ 16. Bortower's Copy. Borrower shall be fumiehed a oonformed oopy of the Note and ottbia Morsgage at the time of ~ecution or after ' reoordation hereof. 17.'ilransfer of the Property; Assumption. If all or any pad of the Proprrty or an interest therein ia sold or tranafezred by Borrower without [.ender'e prior written conaent, ezcluding (a) the rreation of a lien or encumbrance aubordinate to this Mortgage, (b) the creation of a purchase moaey security intereet for houeehoM appliancee, (c) a transfer by devise, deecent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest di three years or leea not oontaining an option to purchaee, Leader may, st Lender a optioa, declare all the sume secured by thie Mortgage to be immediately due and payable. L.ender ehall have waived auch option to aa~elerate if, prior f to the aale or tranefer, Lender and the person to whom the Property ie to be eold or tranaferred reach agreement in writing that the credit of such - person ie satiafactory to I.ender and that the interest payable on the sums aecured by this Mortgage ehall be at auch rate as Lender ehall request. If Lendar has waived the option to accelerate pmvided in thie paregraph 1T. and if Borrower's succeaeor in interest has euecuted a written assumption agreement accepted in writing by l.ender, Lender shall releaae Bo~rower from all obligationa under this Mortgege and the • Note I~'~ If Lender e~cercisee auch option to aocelerate, [.end~ aha11 mail Borrower notice of accel~ation in acoordance with paragraph 1~ hereof, ~ Such notice ahall provide a period of not leen than 30 daya from the datethe notice ie mailed within which Borrower may pay the aums declared due. If Borrower faila to pay auch eums prior to the expiration of such period, Lender may, without further notice or demand on F3ormwer~ i mvoke any remediea permitted by paragraoh 18 hereof. ~ 18. AoceIeration; Remedies. Escept es provided in I paragraph 17 hereof, upon Borrower's breacb o! any oovenant or - I agreement of Borrower in thie Mortgage. including the oovenante to pay w~hen due any sums secnred by this 3lortgage, L~?der prior to aoceleratioa ehall mail notice to Borrower as provided in paragraph 14 hereof spedfying: (1) the breach; (2) the action • ~ required to cure such breach; (3) a date, not lees than 30 days from t6e date the notice is mailed to Borrower, by whic6 euch ! breac6 muet be cared; aad (4) that failure to cure auch breach on or before the date specified in the notioe may resnlt in ' ~ acceleration of the anme secured by t6ie Mortgage; torecloeure by judicial prooeeding aud sale of the Pro perty. The aotice ehall further inform Borrower of the right to reinatate aRer acceleration and the rig6t to aseert in the foreclosure proceeding the - ~ non-ezistence of a default or any other defenae of Borrower to"aoceteration and foreclosure. If the breach is not cured on or ~ before the date epecified in the notice. I.ender at Lender's option may deciare all of t6e aums secured by this Mortgage to be • ~ immedietely due and payable without further demand and may foreclose this Mort~ege by judicial proceeding. Lender eha11 be entitled to collect in each proceeding all e:penses of toreclosure, including, bat not limited to, reaeonabie attorney's fees, and coats of documentary evidence. abstracte and tiNe reporta. ~ 19.Bocrower'eRighttoReinetate.NotwithatandingLender'eaccelerationofthesumsaecuredbythisMortgage,Borrowershallhave " the right to have any proc~edings begun by Lender to enforce thia Mortgage disoontinued at any time prior to eptry of a judgment enforcing thie Mortgage if: (a) Borrower paya Lender al) eume which would be then due under thie Mortgage. the Note and notes eecuring ~tnre . ' { Advancee, if any, had no acceleration a;curred; (b) Borrower cures all breaches of any other oovenants or agretments of Borrower oontained in . ~ p this Mortgage; (c) Borrower paye all reaaonable ezpeneea incurre~ by Lender in enforcing the oovenants and agreementa of Borrower ~ : oontained in this Mortgage and in enforcing I.ender's remediea ea provided in paragraph 18 hereof, including, but noR limited to, reasonable j attorney'a feea: and (d) Borrower tatee euch action ae Lender may tesaonably requin to aasure that the U~ of this Mortgage. I.ender'e interest ~ in the Property and Bormwer'e obligation to pay the sume eecured by this Mortgege shall continne unimpaired. Upon such payment and cnre by Borrower, this Mortgage and the obligatione secured hereby shall remain in fuA force snd effect ae if no accel~ation had occurred. ; Z0. Assignmentof Rents; Appointment ot Receiver. Aa additional aecvrity hereunder. Borrower hereby aeaigne to Lender the rente ~ of the PropertY, Pwvided that Borrower ahall, prior to acceleration under to oollect and retein such rente aa they become dae aad payable. ~~aph 18hereoforabandonmentoftheProperty,havetheright ~ Upon aoceleration under paragraph 18 her~of or abandonment of the Property. I.ender ehall be entitled to heve a receiver appointed by a ooart to enter.npon, take posee~sion of and manage the Pcoperty end to oollect the renta of the Property, including those past due. All renta ~ oollected by the eeceiver ahall be applied first to payment of the oosta of management of the Property and ooUection of rents, inclnding, but not ~ ~ limited to, receivds feea, premiume on receiver's bonde and reaeonable attomey'a fees, and then to the sums secared by thia Mortgage. The ; ~ reoeiver ahall be liable to aooonnt only for thoee rente actually received. - i ~ ~ • ; ~ ; ~ aocx~9 ~ g u ~ - , 3 ; . e ~ ~ ~ . . . . ~.z