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Home My WebLink About0038 - ~ ' J ~ 8. ln~psctlon. Lender msy make or cau~e b be anad~ ee~waable enttia upoa aad iwpecti~u of the propsr~y, provided th~t Leadu ~haU ~ive Borrower aotios prios to sqy ~uch uupection specityins n+s~oaable caws W~efor related to Lender's interest in tbe Properi,y. 9. C•widemnatlon. 9~e proaed~ of an,y ~wud or claim for da~as~es. direct a: con~squentiel. ia oonnectiou with any ~Undeanatioa or oth~ tskic~ oi the pmpsrty. oe part thereof. o: fos oonveyanoe in lien ot ooadeoana~on. ars hersby aai~aed and shall be patd to Leader. Ia the sveat of a wtal takia~ of the PropertY. We proasd~ ~hsll be applied b ths sum~ ~ecured by thia Mrnrt~e~e, with We utoea, U aay, paid to 8orrower. Ia tUe eveat of a putial tskin~ of tM Property. nnlea Boero~ra aad Ieeder oWerwi~s a~res in writin~~ tl~ers sha11 bs appGed to the wm~ ~scused by thia Mo~rt~a~s ~nch propoctioa of We prooseds aa ia equal to that proportion which the amau~t ot We suiw secused by this Mort~e`e immediately priar to the dste of tatin~ be~r~ to the fair marl~et value oiWe Propedy immed'uts~y prar to We date of takia~. with tbe balanos ot the proceeds paid to Borrower. " Ii We Pruperty u abandoned by Borror?es. or if, aRer notios by Leader to Borm~ro~ tbat the candemno~ oger~ to maice ~n award or ~ettls a claim for dama~es; Hosrowes fails b re~pond to I.~der within 30 dqy~ atte~ the date such notica is mailed. I~ende~ is auWorired to cdlect aad 8PP1Y ~ P~. at Lender's option. eithaz to e~toration or repair oi the p~ope:ty oe to the snms ~ecueed by tbi~ Mosf~+~e. Ude~s Lender and Hor~ower othervi~s a~ree in writiag. any snch epplicatioa of Rmosed~ to priacipal sbaU not ~tend or postpone tha d~ date oi the moaW~y uutallmeat~ referred to in psragrapha 1 and 2 ~ereof or dianae the amonnt of wch ia~tallments. 10. Horrower Not Relea~ed. B:teneioa of the time for puyimant or modi8cation of aawrtisation of the auau ~ecured by thia biori~s~s granted by L~?der b any succe~wr in interest of Borrowes shall not operate to release, in any manner. the liability of We original Borro~ and Borrovrer's snooessors in iaterest I.~der shall not be required b aommeace prooeedings s~aiast snch anoce~wr or refuse to estead time for payment or othe~rix modify aaiortisation ot the sums secured by this Mortgage by reason of any demand wede by We origind Bormwer ~ and Borrower'e snoce~sors in intereet. 11. Forbeuanoe b~ Lender Not a Waiver. Any forbearance by Lender in ~erci~ing aay ri~ht or remec~y hereu~es. or othe~riae a~orded by appticable laa. shall not be a waiver of or preclude the ezerci~e of any snch tight or nmedy.'ILe psocureuaent of instirsnoe aar the payment of taze~ a~ other lir.~u or charges by L~dar shaU not be a~vaiver of Lender'~ ~right to aooelerate the mahuity of the indebtedae~s aecured by tbis Mortgege. _ ' 1 Z Remedte~ G~muladve. All remedier p~ovided in this Mortgage are distinct and camulative to aqy other ry~ht or remedy ande: this Mortgage or a~orded by law or eqnity. and may be ezercisal ooncurrent~q. independ~dy or snooewively. 13. Snooessors and Assi~ns Bonnd: Joint and Several I3abilitp; Capttotu. The oov~anta and ag~+eem~ts herein wntained ahall bind, and We righta hennnder ahaU inure to, the respective suooessurs and aaign~ of I.eadez and Borro~rer. snbject to We provisions of paregraph 1? hereoL All aovenants and agreemente of Borrovrer shall be joint and several.lLe captions aad headings of the parag~aphs of this Mortgage ar~ for oovenieace only aad are not to be ueed to interpret or de5ne the pcovisi~s be~eof. i 14. Notioe. E:oept far any notice required under applicable law to be given in another manner. (a) any notice to Borrower provided for in i this Mortgage shaU be given by wailing auch notioe by oeitified anail addressed to Boirower at the Property Address or at such dher address as ; Borrovver may desigaate by notioe to Lender se pmvided herein. and (b) any notioe b Lendec ihall.be $iven by oertified mail. retura raoeipt ! requeated. to I.ender's addnss slated herein or to such otheT address as Lendqr meY deei~ia~ ~y ndiCSto Borrower as provided hezein. Aqy notice ~rovided for in this Mortgage ehall be deemed to heve been givea to Borrower or Lender w+hen given in the manner designated herein. ~ 15. Unlform Yort~age; Governiag Law; Severabillty. This form of mortgege oombines uniform oovenanta far nationa~l ose and aon- uniform oovenants witL limited variatione by jnrisdidion to aonetitute a uniform aecurity instrua~eat oovering real property.'1Lia Mortgage shall be governed by the law of the juriedictioa in which the Propedy i~ located. In the ev~t that any proviaion or clause of this Motfgage ar the Note conflicta with appficable law. auch oonflict ahall not affect other proviaiona of this Mortgage or the Note which can be givea effect without the contlicting pmviaion, and to this end the provieions of the Mortgage and the Note are declared to be eeverable. 16. Borrower's Copy. Borrower ahall be furnished a conformed oopy of the Note and of this Mortgage at the time of e:ecntion or aRer recordation haeof. . 17.'1lransfer ot the Prope~; Assumpdon. If all or any pait of the Property or an interest Werein is 4old or transferred by Borrower - ; withoat Lender's prior written ooneent, ~clnding (s) We ceeation of a liea or encnmbrance subordinate to thie Mortgage, (b) the creation of a ' purchase money aecu~ty iaterest for hoasehold appliances,{c) a tranafer by deviee. descent or by operation of law npon the death of a joint tcnant or (d) the grant of eny leaeehold iaterest of three yeare or leas not oontaining an option to pnrchaee. I.ender may. at Lender's option. declare all the sums t~caped by thie Motiigase to lfe immediatel~r due and payable. Lend~ ahall have waived such option to aocelerate if. prior to the sale or tranc~fer, l.end~ and the person to whom We Prop~ty ie to be sotd or tranefere~ed reach agreementin writing that the credit of such person ia ~tisfacTory Lo Lender and that the intereet payable on the suma sewred by thia Mortgage shall be at such rate as I.ender ahall request. If Lender~haa waived-the option to socelerate provided in this paragraph IT, and if BorroweT's suoceesor in intereet haa e~cecuted a written assumption agreement socepted in writing by I.ender. Lender shall release Borrower from all obligationa ander this Mortgage and the Note. ' If I.ender ezertiees snch option to accelerate, Lend~ ahall mail Borrower notice of sooeleration in acoordance with paragraph 14 hereot ~ i Such notice ahall provide a period of not less than 30 daya from the date t6e notiee ia ~siled within which Borrower may pay the suma declared ~ ' due. If Borrower faila to pay sach auma prior to the eapiration of such period, Lender may, without further notice or demand on F3orrower, ~ ~ invoke any remedies permitted by paragraoh 18 hereoL = ; ; 18. Acceleration; Bemedies. Bzcept as provided in paragraph 17 hereof, npon Borrower'e breach of any oovenant or i agreement of Borrower in thia Mortgage. including the oovenants to pay when dae any snms aecured by this Mortgage, I.ender ~ prior to aooeleratioa shall mail aotice to Borrower as prnvided in paragraph 14 hereof specifying: (1) the breacb; (2) the act~on ~ = required to cure snc6 breach; (3) a date, aot leas than 30 daye from the date the notice is mailed to Borrower, by ~vhich wch ~ ~ breac6 must be cvred; and (4) that failnre to cure such breach on or before the date specified in the noNoe may resnlt in ~ accelsration of t6e anme secured by this Mortgage, foreclosure by judicial pr~ooeeding and eale of the Property. Tbe notice e6a11 ~ further inform Borrower of the right to reiaatate after ac~eleration and the right to tueerE in t6e foreclosure proceeding the non-eziatence of a default or any other defenae of Borrower to aoceleretioa aad foreclosure. If the breach is not cnred on or ~ before the date specified in the notice, I.ender at I.ender'e option may declare aU of the eums aec~red by thia Mortgage to be immediately due and payable wit6out further demand and may forecloee this Mortgage by judicial proceeding. Lender shall be ; ~ entitled to oollect in suc6 proceeding all e:penses of foreclosure, inclading, but not limited to, reaeonable attorney's fees, and ~ coete of tdocumentary evidenoeT abstracte and title reports. . _ ~ 19. Borrower's Right to Reinstste. Notwithstanding Lender's soceleration of the euma eecured by thie Mortgage. Borrower ehall have ~ ~ the rig6t to have aay prooeedings begun by Lender to enforoe thia Mortgege diecontinued at any time prior to entry of a jndgment enforciag 1 ~ thia Mortgage if: (a) Borrower pays Lender all suma which would be then dne nnder t6is Mortgage, the Note and notea eecwing P1~ture ~ Advances, if any. had no acceleration oocurred; (b) Borrower curee all breaches of any other covenants or agreemente of Borrower contained in ~ this Mortgege; (c) Borrower pays all reasonable e~cpensee incurred by Lender ia enforcing the oovenants and agrcementa of Borrowa ~ oontained in this Mortgage and in enforcing I.endez'e remedies aa provided in paragraph 18 hereof. inclnding, bnt not limited to, reseonable } ~ attorney'a feea; and (cn Borrower takes sach action se Lendu may reseonably roqnire to aseun that the lien of thia Mortgage. Lender's interest ~ ' in the Prope:ty and Barrowar's obligation to pay the anms secured by thie Mortgage ahall oontinne unimpaired. Upon euch payment and care . ~ by Borrow~, thia Mortgage and the obligations secured hereby ehall remain in fnll force and effed ae if no aooeleration had oocarred. - ° ~ Z0. Aasignment of Renb; Appoiatment ot Receiver. As additional eecnrity hereunder, Borrower hereby aseigna to Lender the res?te ~ ~ of the Prope~ty. pmvided that Borrower ahall, pri~ to aoceleration under paragraph 18 hereof or abandonment of the Property, have t2ie right f ~ to oollect and retain such reata as they become due and payable. ~ t ~ Upon aooeleration und~ paragraph 18 hereof or abandonment of the Property, I.ender ahall be en~Ued to have a reoeiva sppointed by a F ~ oourt to enterupon, take posseasion of and manage the Property and to oollect the renta of the Property, inclading thoee past due. All rente ~ ~ o~llected by We receiver shaU be applied firat to psyment of the ooete of managementof the Property and oollection of rents, inclnding. bnt not ~ iimited to. receiver's feee, preminms on reoeiver's bonde and reasonable attomey's feea, and thea to the eama eecured by this Mortgage.ll~e ~ eu ~ ~ receiver ahall be liabk to aooount only far thoee renta adually received. ~ ~I, t ~ tl ~ BOOK W3 PACE-~'- ~ ~ ~ ~ ~-_y.:.~ r~ T; ~ _ - _ - ~~4 - - _ ~'uA