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Home My WebLink About0034 - ~ ? ; 8. Iaspectioa. Leader ma,y ~asic~ ar cawe to bs aaade re~waable eatrie~ upon and inapection~ dtM pMUp~rb?. De'ovide~ Wat Iende: ~haU ~ive Bonowes aotioe pria to aa~? such irupsction ~ped~ic?~ reawaabk caws tl~efor related to Lenda~'~ intsrat ia t!u Propeety. 9. Coedemnatlon. 7Le prooeeds of any award o~ claim for dama~e~. die~ec? at oon~equential. ia connection ~riW aqy coademnatlon or oWer takin~ of the properf,y. or part thersof. or for ooavey~aos in lieu oi ooademnatiwa. ers lureby wi~aed snd ~hall bs paid to Ieader. Ia the eveat of a btal takin~ of We Prope~t,y. the pe~oo~ed~ ~hallbe epplied b tbe suau ~ecured by thia Mart~a~e. wiW tl~e ssc«s, if any. paid to Horeu~reT. In the went ot a partid takin8 of the ProperRy. unle~s Bo=eower and L~udar otbaswi~s s~res in writia~. t6ers ~haU be applied to the sua~u ~scored by tbi~ Mo~t~asa such ProPortioa ot the prooeed~ eu i~ eqnal b W st proportiou wluch the amount oZ t6e aumi se~vred by thi~ Mo~a~e inamediately prior b ebe date of takin~ bear~ to We fair market value oi We Prop~rty i~amediate~y prk~r b the date of . telon~. with the baLaaa a~ tAe procesd~ p~id to Bo~rower. ~ If the Propect,y i~ abandoned by Botrowu. o~ i~ alter aotios by Leader b Borrower that the oondemnac oges~ to make an sward or ~ettle a cleim for dama~es. Bo~enwrr tail~ to e~e~pond to Lsadar within 30 days aR~ the date snch aotioe is mailed. I.end~ is authorired to oollect and 8PP1Y ~ P~. at Iend~r'~ option. eitbe~ b rastoratioa oar repair of the propes~y or to t!H ~mns ~scnred by tbis Maf~a~s. Unless L~?d~s end Borro~rar otherwi~s aQree ia vvcitia~. +mY wch application otprooseds to principal shall nat estend or postpooe the dne date of the month~jr installments referred ~o in pssa~raph~ 1 aAd 2 ha~eot or chan~e tbe amount of snch iastallments. l0. Borrow~er Not Releaaed. Estenaion oi the time for paym3nt o~ modi5cation of amortisatioa of the snrms secured by this Mort~a~e granted by Le~dec to any snooea~or in iaterast of Borrower rhall not operate to relea~e. in any manna. the liability of the original Borroasi and Borrower's sn~xeseors in intenst L~der shaU aot be reqaired to ooaamenoe Pzoceedin~ +~Sain+t such suoceswr or refnse to eriend time fa~ paymeat or otherwise modify amortization of the sums secured by this Mortgage by reason of any demat~d made by the original Bort~ower and Bormwda suooessors in interest. ~ 11. Forbearunoe by L~de~r Not a Waiver. Any forbeerance by L~dee in esercidng any ~ht or remedy heraander. ar otherwi~e afforded by applicable isw, ahall na be.a wraiver of or preclude che eserca,e of any snch righc or reaaedy.l'be procur~t of inauranae or the payment of taue~ o~ other li~s ~ charges by Lender ~hall not bs a waiver of I.~der'~ right b aooelarate the mat~uity of tbe indebtedness secvred by this Mortgage. 12 Remedie~ Gtimnlattve. All remedies p~rovided in this Mos~ag~ are distinct and cumulative to aqy other ri~6t or reaaedy nnder thi~ Mortgage ~ a~ozded by law or eqnity. and mqy bs eze~+cise~i ooncnrr6ntl.Y. indepeadently or wooe~dvely . 13 Suooessoss ~nd As~itns Hound: Joint and Several Liabilit~r: Captions. The oovenanb and agree~n«~ts hereia oontaiaed dwll bind, and tlse rights here~nder ahall inure io. the t~pective suooeeaon and assigna of Leader and Borrowar. sabject to the parovisions of PeraBrePh 171lersoL All oovenanta and agreements of Borrowet shall be joint and ~everal. The captiona and headings of the pasagraphi of this Ma~tgage are for oovenience ody and are iwt to be nsed to interpret a~ de5ne the p~ovidons hereoL 14. NoNce. E:cept for any notice required under epplicabie law to be giv~ in another manner, a) any aotics to Borrower p~ovided for in this Mortgage shall be givea by mailing such notioe by oerti5ed mail addressed to Borrower at tbe ~c~etlS?Addreas or at snch other addns~ as Bamwer may desigaate by notioe to Leader as provided berein, and (b) anq notioe to Leader shali be givea by certified mai1. return ncef pt requested, to I.endds addnss stated ha+ein or to such othez address as I.ender m~y designate by notioe b Bosrower as p~ovided !?erain. My notioe provided for in this Mortgage shall be deemed to have bcea given to Borrower or I.~d~ when given in the manaer designated herein. 15. Uniform Mortga~e; Governin~ I.aw; Severabilitp.'lbis form of mortgage oombines aniform oovenanta for nationel uee and non- uniform covenanb ~rith limited variationa by jnrisdidion to ooMtitute a uniform security in~trument oovaing real proparty. T6is MoztBage shall be governed by the law of the jnrisdiction in which the Property is located. In the event tbat any provision or clause of this Mortgage or the Note contlicta with applicable law. such oonilict s6sU not affect other pmvisiona of thia Mortgage or the Note which can be giv~ effect without the conflictiag peavision, and to this end the provisiona of the Mortgage and the Note are declared to be severable. i 1G Borrower'e Copy. Bormwer ahall be fumiahed a oonformed oopy of We Note aad of thia Mortgage at the time of aecation or after recordation henof. 17.11ranst~ of the PropertY: Assumptlon. If all ~ eny part of the Property or sn interest therein is eold or traaaferred by Borrower without Lender'a prior written coneenk ~clnding (a) the creation of a lien or enenmbrance subordinate to this Mortgage, (b) the creation of a pucrhaee monay secnrity interest for hoaeehold appliancea. (c) a transfer by devise. deaoeat or by operation of law npon the death of a joint tenant or (d) the grant of any leasehold interest of three years or lese not containing an option to pur~haae. Lender may, at I.ender's option, declan all the sams secured by this Mottgage to be immediately due and payable. Lender ahall have paived auch option to acoelerate if. prior to the sale or tranater. I.endet and the pereon to whom the Propezty ie to be sold or traneferred reach agteement in writing that the rredit of sach person is satisfactory to Lender and that the interest payable on the swns see.vred by this Mortgage shall be at snch rate as I.euder ahall requeat. If I.ender haa waived the option to aocel~ate provided in this paragiraph 17. and if Borrower's succeesor in intereet hea ezecuted a ~ writtea assumption agreement acoepted in writing by Lender, I.ender shall release Borrower from all obligations under thia Mortgage and the Note. ' If Leader ~ercises such option to aooelerate, Lender ahall mail Borrower notice of acceieration in sooordance with part~graph 1~ hereo£ ~ ! Such notice shall provide a period of not leas than 30 days 5rom t6e date the notice ia mailed within which Borrower may pay the auma declared : ~ pay anch anme prior to the Pspiration of auch period, I.ender may, without further notice or demand on Borrower, s ° due. If Borrowez faila to ~ invoke any remediea perrnitted by paragraoh 18 h~eot 18. Aoceleration; Remedies. Ezcept as prnvided in~paragraph 17 hereof, upon Borrower's breach o! aq~ oovenant or agreement ot Borrow er ia this Mortgage, inclnding the oovenants to pq~ when dae aqy snms secured by thts Mortgage, I.~der prior to aoceleration shall mail notice to Borro~ver as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action ~ required to cure sach breach; (3) a date, not less than 30 days from the date tbe notice is mailed to Borrower. by which sach breach must be cured; aad (4) that failnre to cure sach breach on or before the date apedfied in the notioe me,y res~ilt in ~ acceleration of the euma eecured by this Mortgage, foreclowu~e by jndicial prooceding and sale of the Property. T6e notice ehall further inform Borrower of the rigbt to reinstate aRer aoceleration and the ri~ht to aeeert in the forecloeure praceeding the ~ noa-ezistence of a default or any other defenae of Borrower to aoceleratlon and forecloaure. If the breach is not cnred on or before the date .pecified in the nodce, I.ender at Lender's option may declare all of tbe aums secnred by this Mortgage to be immediately due and payable without further demand snd may foreclose this Mortgege by jadicial proceeding. I.ender ehall be entitled to colleci in such proceeding all e:penaes of [oreclosure, including, bat nOt limited to. reasonable attoraey's feee, aad coets of documentary evidence, abstracts and title reporta. = 19. Borrower's Right to Aeinstate. Notwithatanding Lender's acceleration of the sums secured by this Mortgege. Borrower shall have the right to have any prooeedings beg~n by Lender to enforce !liia Mortgage disoontinned at aay time prior to entry of a judgment enforcing ~ this Mortgage if: (a) Borrower paya Lender all auma which would be then due nnder this Mo~gagt, the Note and notea eacuring I~ture Advances. if any. had no aoceleration axurred; (b) Borrower curea all breaches of any other oovenents or agreementa of Bormwer oontained in ~ thia Mortgage; (c) Borrower pays all reasonable expeneea incur~ed by Lender in eaforcing the oovenante and agreements of Borrowez oontained in this Mortgage and in enforcing Lender's remediea as provided in paragraph 18 hereof, iaclnding, bnt not limited b. reaeonable attorney'a feea; and (d) Borrower takes ench adion as Lender mey reaeonably require to asenre that the lien of this Mortgage, Lende:'s interest ~ in the Property and Borrower's obligation to pay the euma secured by thia Mortgage ahall continue unimpeired. Upon snch paym~t and cure ~ by Borrower. thia Mortgage and the obligationa eecnred hereby ahall remain in fnll foroe and ef~ect as if no sooeleration had axvrred. ~ Z0. As~ignme~at of Renta; Appointment of Aeceiver. As additional secnrity hereander, Borrower hereby assigns to Le~der the rente ~ ~ of the Pro~ty, provided that Borrower ahall, prior to sooeleration under paragreph 18 heteof or abandonmeat of the Property. have the right ~ to colled aad retain'spch rents as they become due and payable. ~ Upon aoceleration under paragraph 18 hereof or abandonment of the Property, I.ender ahall be entided to have a receiver appointed by a ~ ~ oourt to enternpon, taice poeseasion of and manage the Property and to o~llect the rents of the Property, including ihose past dne.All rents ~I ~ oollected by the receiver s6ell be applied 5rst to paymeat of We oosts of management of the Property and oollection of r~ta. incinding, but nat ' ~ limited to, receiver's fees, premiums on reoeiver's bonds and reasonable attoraey'e fees, and then to the sums secured by this Mortgage.lLe I rece~ver ahaD be liabk to aooount only for those rents actoally received. t BooK 303 PA~ 34 ~ - - _ - - - - _ _ ~ - - :,~~r „ ~ ~ ~y