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Home My WebLink About0461 8. lnapectian. Leader may mehe or causs to be made reewnable entria~ upoA and 'uupectioas of the pmperty, provided that Lender ~hall gire Borzo~re: no4oe prior ~o eu~y such iaspection specifying reaeonable cawe therefor related to I.e~des i intereat in the Property. 9. Ca~deataatioa.'I1?e prooeeda oi aay award or claim for dama~es, direct or consequential. in connection with aay aoademnation or oWer takia~ ot We prop~ty. at part thereof, or for conveyaaoe in lieu o! oondemnation, srs hereby aeaigned aad ~hall be paid b Lender. - . ln tM eve~t oi a total taking of the Property, We proceeds shall be applied b the ~uma secured by thi~ MortgaQe, writh We e=cess. if aay, paid w Borrower. Ia We event of a partial takin~ of We Prope~j?. unle~s Bortower and Lend~ otheswise agree in writing, Lhere shall be applied to the sums ~ecared by t2?iw Mo~aa~e ~uch proportion of the pcoceed~ as is equal to lhat proportioa which the amount of the sums . secured by thi~ Mortga~e immediately pzior to We date of taking bean b the fair markd value of the Property immediat~ely prior to the daee of takin8. witl~ tbe balanoa ot t!~ prooeeds peud b Borro~rer. Utl~e Proper~y is abendoaed by Borrower, o~ if, aRer aotice by Lender b Borrower that !he oondenaaor offen b aiake an award or settle a ; daun tor dama~es. Borrower fails b respond to L~ender ~vithin 30 days alter the dete sucb aotioe is mailed. I.ender is authorised to colleci aad - apply the peoceeds. at Lender's option, eiW~ to restoration or repair of the pmperty or to the ~ums serured by this Morfgage. Ualeas La~de~ aad Bot~rower othervvise agree in writing, any such epplication of proceeds b principal shall not e=tend or postpoae the dae date of the montal,y iastallmeata referred ~o in paragraph~ 1 and 2 hereof or change the amount of euch installments. 10. Bon^ower Not Released. Exteasion of the time for paymant or anodification of amortisation of the surne secured by this Mortgage grented by Lender to any auc~.~essor i~ interest of Borrower shall not operate to release, in any manner. ehe liability of the original Borrower aad Bat+ower s anoceeaors ia interes~ l.ender ahall not be required to oommence prooeedings against such auoceeaor or refuee to ertend time for pqymeat or oWerwise modify amortization of the eume eecuted by this Mortgage by reaeon of any demand made by the original Borrowez and Borrowei's suooeseors in intereet. , . - i l: Forbearanoe b~ Leader Not a Waiver. Any forbearance by Lender in esercisiag any right or rsmedy hereunder. or olherwise • a~ocded by spptiaible law. ahaU aot be a ~raiver of or prnclude the euerciee of any euch right or remedy. The procurement of ineuranoe or the payment of .t~es or other lia~s or charges by Lender ehaU not be a waiver of Lender'a right b aooelerate the maturity of the indebtednas ee~.vred by this Murtgage. 12 Reoedia G~mul~dve. All remedies provided in thia Maigage are distind and cumulative b any other right or semedy nnder this ~ Mortgage or afio~ded by law or equity. 811d ID83/ bE P.ZC[GBCf~ OOIICLLr['2A~~I. independently or saoueesively. l 13. 3uooe~aoe~s and Assipu Boond; Joint aad 3everal Liab~lity; Captions. The oovenar?ta and agreementa herein oontained shaU bind, and the rights hareunder ahall inure to. the reapective anccessors and asrigns of Leader and Borrower. subjecE !o the prnviaions of paragraph 17 hereoL All rnveaante aad agreements of Borrow~ ehall be joint and several. The captions aad headinge of the paragraphs of ' tbis Mortgage are f~ oovenience only and an not to be used to interpret or de5ne the psoviaiona hereof. ~ 1~1. Notice. Ercept for any notice required under applicable law to be given in anoth~ ~nann~. (a) any notice to Borrower pmvided forin thia Matgsge ahall be given by mailing anch aotice by ceirtified mail addreaeed to Borrower at the Property Addrees or at auch other address as Bormwer may designate by notice to I.ender as pmvided berein. aad (b) any notice to Lendet shall be given by certified mail. return reoeipt requested, to Iender'a ad~ees atated herr.ia or to auch other addreea as I.ender may designate by notioe to Borrower as pmvided herein. My notice provided for in thia Mortgage shall be deemed to 6ave been givea to Borrower or Lender when given in the manner desigaated,herein. 15~ Unitorm Mortgage; Goveraing Law; Severability.'lUis form of mortgage combines uniform oovenants for n ational use and non- : uniform oovenaats with limited vatiatione by jurisdiction to oonstitute a uaiform aecurity instrnment oovering real property. Thie Mortgage shall be governed by We law of the juriediction in which the Property ia located. In the event that any pmvieion or clanse of this Mortgage or the Note conflicts with applicable law. such conflict ehaU not affect other pmvisiona of this Mortgage o: the Note which can be given effect - withoat the aonilicting provision, and to this end the provisions of the Mortgage and the Note are declared to be eevereble. • 1& Bortower'~ Copy. Borrower ahall be furniahed a conformed oopy of the Note and of thie Mortgage at the time of ~ecution or after recordation h~reof. ~ 4 ~ 17.1~raosfer of the Property; AssumpUon. If all or any part of the Property or an intern~t therein ia eold or transfen~ed by Borrower withont trnder's prior written rnnsent, ezcluding (a) the creation of a lien or encumbrance subordinate to~thia Mortgage, (b) the creatioa of a purchaae money security interest for houaehold appliancea. (c) a tranafer by deviee, deecent or by operation of law upon the death of a joint tmant or (d) the grant of any leaeehold interest of three yeara or lees nd containing an option to purchase, Lender may, at Lender a option, declare all the suma secured by thia Mortgage to be immediately due and payable. Lender ahall have waived auch option to accelerate if, prior to the sale or tranafer, Lender and the person to whom the Property ie to be sold or traneferred reach agreement in writing that t6e credit of such person is eatiafact~ory to Lender and that the interest payable on the euma secnred by this Mortgage ahall be at auch rate aa I.ender ehall reqnest If I.end~ haa waived the option to acoelerate provided in thie paragraph 17, and if Borrower s successor in intereet has e:ecvted a written ssaumption agreement.acoepted in writing by Lender, Lender shall releaee Borrower from ell obligatione under thia Mortgage and the Note. ` If Leader ezenises auch option to aocelerate. Lender ahall mail Bo~ower notice of aeceleration in acoordance with paragraph 14 hereof. Soch notice shall provide a period of not lesa fhan 30 daya from the date the notice ia rnailed within which Botrower may pay the eums declated due_ If Borrower faila to pay such suma prior to the expiration of auch period, I.ender may. without further notice or demand on Borrower, _ ' mvoke any remediea permitted by paragraoh l8 hereof. - i 18. Aooeleration; Remedies. E:cept ae prnvided in paregraph 1? hereof, upon Borrower'i breach of aay ooveaant or ; agreement of Borrow~er in t6ie Mortgage, including the oovenanta to pay w6en due any sums eecured by this Mortgage, Lender ~ prior to aecrleration s6a11 mail notice to Borrower as provided in paragraph 14 hereof epecifying: (1) the breach; (2) the action reqnired to cure such breach; (3) a date, not le8s thaa 30 daya from the date the aotice is mailed to Borrower, by which such € breac6 muat be cured; and (4) that failure to cure such breac6 on or before the date specif ed in t6e notice may result in " ~ acceleration ottbe sums secured by thia ~ortgage, lorecloaure by judicial proceeding and sale of the Property. T6e notice ahaD ~ furt6er inform Borrower of the right to reinstate aiter acceleration snd the rigbt to asaert in the lorectoeure proceeding the ~ non-ezistenoe of a defanlt or sny other defense of Borrower to aoceleration and foreclosure. If the breach ie not cured on or before t6e date specified in the notice, Leader at I.ender'e option may declare all of the eums secured by thia Mortgage to be ~ immediately due and payable without farther demand and may forecloee thie Mortgage by judicial proceeding. Leader shall be ~ entitled to rnllect in such proceeding al l e:penaea ot forecloeure, including, but not limited to, reaeonable attorney's feee, and costs of documentary evideaee, abstracts and title reports. ~ 19. Borrower'e Rig6t to Reinstate. Notwithatanding Lendei a acceleration of the auma eec~red by thie Mortgage, Borrow~ ahall have the right to have any prooeedinga begun by Lender to enforce thie Mortgage diecontinued at any time prior to entry of a judgmeni enforcing ~ thia Mortgage if: (a) Borrower pays Lender all auma which would be then due under this Mortgage, the Note and notee eecuring Future ~ Advances. if any. 6ad no acceleration occurred; (b) Borrower cures all breaches of any other oovenanta or agreemente of Borrower oontained in t6is Mortgage; (c) Borrower pays all reseonable ezpensea incurred by Lender in enforcing the covenants and agreementa of Borrower ~ oontained in this Mortgage and in enforcing Lender's remedies aa provided in paragraph 18 hereof, including, but not limited to, reasonable - attame~r's fees; and (d) Bormwer takee eac1~ action aa Lender may reseonably require to assure that the lien of this Mortgage, Lender's intec~est - ia the Property and Borrowei a obligation to pay the aums aecured by this Mortgage ahall continae unimpaired. Upon euch payment and cure by Borro~ver, thia Mortgage and the obligationa eecured hereby ahall remain in full force and effect as if no aoceleration hed occurred. 3 2Q Ae~i~nmeat ot Renta; Appointment ot Receiver. As additional security hereander, Borrower hereby asaigna to Lender the renta - ! of the Propa~ty, provided that Borrower ahall, prior to acceleration under ; to ooUed and retain anch renta ea they become due and payable. ~agraph 18 hereof or abandonment of the Property, have the right s Upon acceleration nndrr paragraph 18 hereof or abandonment of the Property, Lender ahall be entitled to have a receiver appointed by a = ~ aoart to eaternpoa, talce poseeaaion of and manage the Property and to coliect the rente of the Property, including thoee past due. All rente ~ coUet~t~ed by the receiver ahall be appl"aed first to payment of the ooets of management of the Property and collection of rente, including. bnt not C ~ limited to, reoeiver's fees, premiums on receiver's bonds and reseonable attorney's feee, and then to the suma secured by this Mortgage. The ~ receiver shall be Uable to aooount only for those renta actually received.• - ~ - ~ ~ ~ ~ ~ g00!( JV2 P.4CE 46~ ~ ~ ~ , - - - - I~, ~ ~ ~ ~ - ~ Y - ~