HomeMy WebLinkAbout0068 8. Iaspectioa. Lsader me~y maice or caws Lo b~ made reawaabb entrie~ upoa u?d 'uupectioas of the Di'oP~Y. D~~ded that Lend~ ~haU
~1Y! BO![Orl?!~ QO~IO! pilOi b iQy WClf IM~10l1 ~IL~As reawnabb cauN Waefa~ rslatsd to Iwade~c'~ iatered ia t1u Prap~fy.
9. CondemnaUoa'Il~e prooeeds of aoy award or caaim for duna~e~, direct or oon~eqwatial, in coMactloa ~?ith any eoademnatiou o~
othe= takin~ ot tbe PpP~b?. o~ paet tb~eof, or fos ooawya,aos in lieu o! oondaaaatioa. ar~ he~sby a~ai~ied sad ~haU be p~id b Lsnd~.
In We eveat of a toW takin~ of the Pcopeety. the pe~oooeda shaU b~ applied to tl~e ~um~ ~ecared by thi~ Moct~a~e, wiW tbe ezoea. itany.
paid to Borro~rer. In th~ svsnt of a partial takin~ of We Pe~opRq?. nnlew Bo~rmMe~ aad Iw~der oth~wi~s s~re~ in writin~, tMrs shaU bs
applied t~o the ~ums ~ecured by tbi~ Mort~s~s smh propocbion of the prooeed~ u u equal to that proportion which ths ama~nt ot the snm~
~ced by Wia Mo~a~e immediately prior to We dRte ot t~l~n~ bean ~o tbe fair muket value of the Props~rty immediately prios ~o the date oi
taldo~. aith tbs balanoe ot th~ piooeed~ i~aid to Borronrer.
If ths Proper~y is abapdaned by HoROwe~. or i~ alter notios by I~nd~ to Borrower that tbe ooademnor o~an to make an ~ward or ~ a
claim for dama~es„ Borro~ver taib to re~poad to l.ead~ withia 30 dey~ aRe~ the dats such no4ce u mailed. I,snde: is anthori:ed ~o oollect sad
ePPIY We proosed~. at Lendd• op~ion. eiWer t,o e~oraaon ar repair of tM ~opee4Y a: to the aanu .ec~red by @,i. Mo~te.~e.
Ualen La~de~ and Ho:e~ower othenvias a~res in aeiti~?6. aRY ~uch appl~tioa of proosed~ to principsl shall tat ~tend a~ postpone tbedns
date of ths monthly installment~ referred to ia par~rapha 1 and 2 hereof or ch~n~s the amount of nich inatallmenta.
10. Botro~?er Not Relea~ed. Sstenaion of the time for p~ymsnt or a~odification of amortisation of the sum~ secured by this Mortga~e
granted by Laidar to sny ~uoceewr in iatere~t of Borrower abaU aos operata to relea~e. in any manner. the IiabiliRjr of the ori~inal Aa:rowrer
end Borrower'a snc~cessor~ ia intere~t. I.ender shall not be required to oommence Pra.`eedines e8sin~t such auocwsor or refu~e to extend time
for payment oi otherwise modify amorti:ation of the sums ~ecvred by this Mortgage by reason of any demand mada by the original Botrower
and Botrower s anooeaors ia ittterest .
11. Forbear~nos b~? I.ender Not a Waiver. Any forbearanca by Lend~ in ~ercisin~ aay riQht o~ remedy her~der, o~ oWe~wi~s
s~otded by applicable law. shall not bs a aaivar of or prsclnde We ezezrise of any ench right or remedy. Tl~e procuremeut of insmre~nee o~ the
payment of ta:es ~ othe:lieas ot charges by I.end~ ahall not be a waiver of I.endefs right to aocelerate the matnsity ~ the iadebt~edne~a
secared by thii Mortge~e.
12 Remedie~ Cnm~ilative: All remedies provided in this Moor~ags are distinct and cumnlative to any other right or remedy nnder t6i~
MortgaQe or afforded by lsw or eqniqr. aud ms,y be ezerci~s~l ooncurrently. independeatly or suoosssively.
13. Suooeasors aad A~aipu Ho~nd: Joint and Several LiabiUty; CaPtions.'Phs oovenants and agreem~ts herein ooatained shsll
bind. and We rights hereund~ shall inura to. the respective snooesw:s and saigns of Le~det and Borrower. subject to the provisions ~
paragraph 1T hereof. All oovenan4 and aHreemeab of Boaower shall be joint and several.'1l~e captioas and headinge of the para~rapbs of
thia Mortgage are for coveni~ae only and are not to be wed to interrret ar defiae the p~ovisions 6ereoL
14. Notice. Ezcept for any notice required unde~ applicable law to be given in another manner. (a) any notice to Borrower provided for in
this Mortgage shall be given by mailing anch aotice by certified mail addressed to Borrower at the Property Addreee or at snch other addres~ as _
Borrower may derignate by notioe to Lender as provided herein. and (b) any notioe to Lender shaU be given by oeutified mei1. rebun reoeipt
requesLed. to I.ender'a address stated henia or to snch othez addnss as Lender may dedgnate by notioe to Borrower as provided herein. Any
notice provided for in this Morfgage shall be dcemed to have been given to Borrowe: or Lender ~vhen given ia the manner designafed he~in.
~ 15. Uniform Mortgage; Governing Law+; Severability. This form of mortgage oombinea uniform ooveaaata for national nse snd non-
nniform eovenants ririth lianited variations by jnrisdidion to eonstitate a uniform securitY inatsument aove:ing resl prop~ty. This Mortg~ge
ahall be goveraed by the la~r of the jnrisdidion in which tbe Property ie located. In the event that any provision or clause of this Mortgage or
the Note contlicte with applicable law. anch conflict ahall no! affect oth~r provisiona of thia Mortgage or the Note whiqh can be giva~ effect
vithout the oonflicting pmvision, and to thia end the provisiona of the Morlgage and the Note are declared to be severeble.
16. Borrower's Copy. Borrovirer shall'•_~e furnished a canforoned aopy of !he Note aad of tbis Marlgage at the time of ~ecution or aft~.t
recordatiaa he:eof. . ~
( 17. 'I~anaf~ of t6e Property; Aaumption. U all or any part of the Property or an intenst Werein is sold or tran~ferred by Bosrower
without Lender's prior written coneent, ~cluding (a) the creation of a lien or encumbrance subordinate to this Mortgage, (b) We creation of a
purchaee money security interest for househoW appliances. (c) a transfer by devise. desoenL or by operation of law apon the death of a joint
tenant or (d) the granl of any leasehold intereat of three years or lees not oontaining an optioa to pnrchase, Lender may. at I.endei'a option,
declare all the snms aecured by thia Mortgage to be immediatelx due and payabk. Lendar shall have waived anch option to aocelerate if. prior
to the eale or tranafer, Lenda.and the person to ~rhom the Property is to be sold or tranaferred reach agreement in w+riting that the rredit of such
pereon ie aatisfactory to I.ender and that the interest payable on the suma secured by thia Mortgage ahall be at aucA rate as Lender shall
request. If Leader has waived the option to aocelerate provided in t6is paragraph 17. aad if Borrower's suooesaor in interest haa e:ecuted a
writc~ assumpuon agreemeac accepced in wriang by i.ender. Lender ahall relesse Borrower from all obligationa under thia Mortgage and the
Note.
~ If Le~d~ exercases snch option to socele=ate, Lenda ahall mail Borro~ver notice of aocelaration in aocordance with paragraph 14 het+eot
j Snch notice ahall provide a period of aot leea than 30 daye firom the date the notice is mailed within which Borrower may pay the auma declared
due. If Borrowe! fails to pay such sums prior to the e~cpiration of euch period, Lendet may, without fnrthar notice or demand on $orrower.
I invoke any ranedies permitted by paragtaofi 18 hereoL _
~ 1& Aocelerstlon; Remediea. Facept ae pmvided in paragraph 17 hereof, upon Borrower's breach of any oovenent or
~ a~reement of Borrower in this Mort8a8e, iacladin~ t6e aov~ants to pap wbcn due any aims secured by this Mort~aSe. Lender
prior to aooeleration abaU mail notice to Borrower as provided in paraaraph 14 hereof spedfying: (1) the breac6; (2) the adion
~ reqaired to cnre such breach; (3) a iiate, not leas than 30 days trom t6e date tbe noiice is msiled to Borcower. by whicb sach
bresch mnst be cnred; and (4) that tsilnre to cure such breacb on or betore the date specif
ed in the noNce msy result in
nooeleration otthe sums secured by thls Nortgage, foreclosure by judicial prooeeding aad sale of the Pcoperty. The aotice ahwll
fart6er intorm Borrower ot the riaht to reiastate aRer aoceleration and the ri~ht to assert in the forecloaure proceeding the
non-eziatence of a default or eny ot6er defenae of Borrower to aoceleration and foreclosare. If the breach is not cured on or
before the date specified in t6e notice. I.~der at I.ender's optjon may declare all of the sumH secared by this ldortgage to be
immediately dne and payable without fnrther demand snd may foreclose this Mortga~e by jadicial prooeeding. Lender ahall be
eatitled to ooliect in such prooeeding all ezpenses otforeclosure, inclndiag, but not liniited to, ressonable attorney',s fe.es, and -
coeta of documeatary evidenoe, abstracts aad title reporta. _
19. Borrower's Right to Reinstate. Notwithstanding I.ender's acceleration of the same ~ecured by this Mortgage, Borrower ahall have
the right to have any pmoeedings begun by Lendar to enforoe thia Mortgage diacontinued at any time prior to entry of a jndgment enforcing
this Mortgage if: (a) Borrower pays I.ender all eums which would be then due nnder this Mortgage. the Note and notes securing F~ture
Advances. if any, hed no acceleration oocutred: (b) Bormwer curea ail breachea of any othet oovenanta or agreementa of Borrower oontained in
this Mortgege; (c) Borrower pays all teasonable e~cpensea incnrred by Lender in eaforcing the covenante and agreements of Borrowa
oontained in thia Mortgege and in enforcing Lender's remedies ea pmvided in paragraPh 18 hereof, inclnding, bnt not limited to. reaeonabla
attorney's fees; and (d) Borroi~rer tates sach actioa as I.mder may ressonably require to aesure that the lien of this Mortgage, Lender s intereet
in !he Property and Borrower'e obligation to pay the snma secnred by thia Mortgage ehall oontinue unimpaired. Upon snch payment and can
~ by Borrower, this Mortgage and the obtigations secured henby shall remain in full force and effed as if no aooeleration had oocurred.
~ Z0. As~i~ament oi Rents; Appointment ot Reoeiver. As additional eecurity hereunder. Borrower hereby assigns to Lender the rents ~
~ of the Propaty, provided Wat Borrovver shall, prior to accekration under pa:agraph 18 hereof or abandonment of the Propaty. bave the rigbt
~ to ooUed and retain such eents as they become dne and payable. •
~ Upon aaoekration nnde: paragraph 18 h~eof or abandonmeat of the Property. I.ender ahall be entided to have a reodva appoiated by a
~ oonrt to enter~pon, tahe possesaon of and manage the Propaty and to collect the renta of the Property. including those past due. AU nnte
oollected by the reoeiver shall be applied 6rst to payment of the oosta of management of the Propr.rty and oollection of rents, inclnding. bnt not
~ lunited to, receiver's fee~. preaaiums on nr,eiver's bonds and re~eonable attorney's fcea. and then to the e~ms secured by tbis Mortgage.'1'be
reoavrr ahall be liable to aooow?t only for thoee rents actually received.
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