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Home My WebLink About0234 r i . ~ • ' i 8. In~pectiou. I.ender may make or caws to be msds re~waabk ~trie~ upoa xnd ic~pxtion~ oitbe proptr~r. provided t1?at ~.ead~ ~haU give Borrower aotios prios to en,Y such i~pectioa aPeci4?in~ ~asoaable caurs therei~ relatad to LeAder's iAterest in the Prop~ty. 9. Condemn~tloa.'I~e prooead~ of aay awerd or cleim fos dama~e~. dinct or oonsequ~tisl. iA conaectioa w+ieh any o~?d~auaaou os oeher takit~ of t6e pmpe~ty. os patt thereot, or f~ ooaveyanos in liw of oondewnation. are hereby assi~ned and ahall be peid to I.euder. Ia tha ever~t oi a btal takiaQ oi the Property. tbe Pmceed~ ~hall bs applied to the ~~ms ~ecured by this M~a~0. with tbe esoea. if aa3?. paid to Borrower. In the event ot a partial tairin~ of the Property. unlew Borrowe~ aad I.ender otherwi~s a~res ia writin~. there shall bs applied ta the sumr eecured by thu Mort~ege ~uch proportioa of the prooeed~ as i~ equsl to that proportioA which the amount o~ the suau ~ecured by thi~ Mortga~e immediately ~ior to the date of takin~ bee~n to the fair martet value of We Property im~aediately ptior to the daLs ot teldnS. with the belaaoa of the proceed~ Paid to Borrower. If the Properf,y is abandoned by Borrower. o~ U. aRer notioe by Leader to Borrower that the oondemaor o@'en to make an award or ~ett~e a claim for dame~e~, Borruwer feW~ to respond to Lender widun 30 de~1?s aRe~ We date such notioe u mailed, I.ender ii auWoriud to oollect and ~ apply We pmceeds, et Lender's option. ~ther to restoratioa or npair oi tbe proper~q or to the ~ums ~ecared by thi~ Mvrtgage. ' Unlew I.endar and Boerower oWa~rise aQree in writing. anY wcb application of pmceeds to principal shall not astend or pwtpone the due ~ date oi We moath~y instsllments referred to in paraQraph~ 1 snd 2 hereof or chan~e t6e emount of such installmeuta. 10. Borrower Not Relea~ed. Fatension of the time for pa~y~nant or modification of amottizatioa of the suma aecured by thia Mortgage granted by Lender to any eue~~eesor in interwt of Borrower shall not operate b releaee. ia aay manner. We liability of We original Borrower aad Boirow~'s auoceswre in interes~ I.ender shaU not be required to oommence proceedings against such suoceasor or reEuee to e~end time s for pay ment or otherwise modijjr amortisation o! the aum~ se~vred by thia Mortgage by reason of any demand made by the original Borrowe~ and Bormwer'e suoceeaora in interest. 11. Forbearanoe by Lender Not a R?aiver. Any forbearanoe by Lender in e:ercidng any right or nmedy hereunder, or othe~nvise afforded by applicable law. shall aot be a waivar of or preclude the e~cercise of eny such right or nmedy. The procurement of inanranoe or the payment ot ta:es or othaz lieas or char8es by Lender shall not be a waiver of Lender's right to aooelerate the maturity of We indebtedne~s secured by this Mortgage. 12. Remedies Gtie~ulative. All remedies provided in this Mortgage are distinct and cumylative to any other right or nmedy nnd~ this Mortge~e o~ agorded by law or equity. and may be ezecrise~l ooncun~ently. indepeadendy or saoceesively. 13. $uoceswn and Asei~ns Bound; Joiat aad 3everal I.iability: Captions.'ILe oovenapts and agreemeats herein aontained shall bind, and the rights h~eunder ahall inure to. tl~e respective snocessors aad essigns of Lender and Bormvver. aubject to the pmvisioas of paragraph 1? hereof. All covenanta aad agreements of Borrowes shall be joint and eeveral.'i'be captions and headinga of the paragraphs of this Mortgage an for cavenienoe only aad an not to be used to interpret or de5ne the pe~ovieiona hereof. 14. Notice. E:oept for any notioe required undez applicable law to be given }a. aaotl~i mann~. (a) any notice to Borrower provided for in this Mortgage ahall be ~ven by mailine such notioe by certified mail addreesedto Boirow~er at the Property Addreee or at snch other address as Bormwer may desigaate by notice b I.ender as provided herein, and (b) any notioe to I.ender shaU be given by certi5ed mail. retarn reoeipt requested. to I,ender s addrees atated herein or to such other addrese aa Lender may desigaate by aotice to Borro~ver as provided henin. Any notice pmvided for u? thi.s Mortgage ehall be deeaaed to have been given to Borrower or Lender wlien given in the mann~ designated herein. 15. Uniform Mort~age; Goveraing Law; 3everability. This form ofmortgage rnmbinee nniform oovenants for national use and non- uniform rnvenanta with limited variations by jurisdictioa to oonatitute a uniform security instrument oovering real pmperty.ll~is Moztgage shall be governed by the law oi the jurisdidion in which the Prope=ty is located. In We event that any provision or clanee of this Mortgage or the Note conflicta with applicable law. auch conAict ahall not affect other pmviaioas of thia Mortgage or We Note which ~n be given egect without the oonificting proviaion, and to this end the provisions of the Mortgage and the Note are declered to be eeverable. 1& Borrower's Copy. Borrower shall be furniehed a conformed copy of the NoLe and of this Mortgage at the time of ezecution or after recocdation hereof. ' 17. '15ransfer of the Property; Aesumption. If all os any part of the Property or an intereet therein ie eold or traneferred by Borrower without I.ender'e prior written consent, e:cluding (a) the creation of a lien or encumbrance subordinate to thia Mortgage, (b) the creation of a purchaee moaey security intereat for houeehold appliances, (c) a transfer by deviae, deaceat or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold in~t of three yeara or leea not oontaining an optioa to pnrrhaee. Lender may, at I.ender's option. declaie all the sums seeured by thie Mortgage to be immediately due and payable. Lender ahail have waived auch option to socelerate it; prior - to the sale or ttanefer, Lendez and the person to whom.the Property ia to be sold or traneferted reach agreement in writing that the creditof such person ia eatiafactory to I.ender and that the intereet payable on the aume aecured by lhis Mortgage ahaU be at such rate as Leader ehall requeat. If Lender has waived the option to socel~ate provided in this paragraph 17, and if Borrowei a ancceesor in interest hae e:ecuted a written assumption agreement socepted in writing by I.ender. I.ender shall releaee Borrower from all obligatioae under this Mortgage and the Note. I' If Lendes eserciees such option to aocelerate, Lender ahall mail Borrower notice of aoceleration in socordanoe with paragraph 14 hereot -1 ~ Such notice shall provide a period of not leas Lhan 30 days ~om the date the notice ie meiled within which Borrower may pay the auma declared ; i due. If Borrower feila to pay such snms prior to the expiration of euch period, Lender may. without fnrther notice or demend on Borrowe~r, ~ invoke any resnedies pesmitted by paragraoh 18 hezi.wf. 5 18. Acceleration; Remedies. Ezcept as provided in paragraph 17 hereof. upon Borrower's breach of aqy oovenant or ~ agreemeat of Borrower in thie Mortgege, including the oovenants to pay when due aqy sums aewred by this Mortgage, Lender ~ prior to aoceleraiion shall mail notice to Borrowec ae prnvided in paragraph 14 hereof spedfyins: (1) the breach; (2) the action required to cure euch breach; (3) a date, not lese than 30 days from the date the notice is mailed to Borrower, by which snch ~ breac6 muat be cured; and (4) that failure to cnre such breach on or before the date apecified in the notice may result in E ~ acceleration of the sume eecured by this Mortgage, foseclosure by judicial prooceding snd sale of the Property. T6e notice ehall ~ further inform Borrower of the right to reinstate atter acceleration and the right to eaeert in the foreclosure proceeding the i non-ezistence of a default or any other defense of Borrower to soceleration and foreclosure. If the breach is not enred on or before the date specited in t6e aotice, Lender at I.ender'e option may declare ail otthe sums eewred by this ~ortgage to be ~ immediately due and payable without further demand and may forecloee thie ~ortgage by judicial proceeding. Lender shall be entitled to collect in auch proeeeding all e:peoaes of foreclosure, including, but not limited to, reasonable attorney's fees. and coate ot docvmentary evidence, abstracts and title reporte. _ 19. Borrower's Right to Reinetate. Notwithstanding Lender's aooeleration of the snme eecured by thia Mortgage, Borrower ahall have the right to have any prooeedinga begun by Leade~ to enforoe this Mortgage disoontinued at any time prior to entry of a judgmeat enforciag thie Mortgage if: (a) Bon+ower pays L.ender ali snms which would be then due under this Mortgage, the Note and notee eecuring F'nture Advancea, if any, had no acceleration occurred; (b) Borrower cures all breaches of any other rnvenante or agreements of Borrower oontained ia ~ thia Mortgage; (c) Borrow~ paya all reseonable e:peasee incurred by Lender in enforcing the oovenanta and agreements of Borrower ~ oontained in thia Mortgage and in enforcing Lende:'s remedies aa provided in paragraph 18 hereof, including, but not limited to. reasonable attorney's fee~a; and (fi Borrower takea euch action se I,,ender may reasonably require to assure that the Uen of thie Mortgage. Lender'a intereat ~ in the Property and Borrower'e obligation to pay Lhe auma eecnred by this Mortgage ahall continue unimpaired. Upon auch payment and cure by Borrowez, thia Mortgage and the obligations eecured hereby ahall rEmain in fnll foroe and eNect as if no aoceleration had oocurred. ~ 20. Assignment of Renta; Appointment of Reaeiver. As additional eecnritY hereander, Borrower hereby asaigns to L.ender the rents ~ of the Property, provided that Borrower ehall. prior to aoceleratioa under paragraph 18 hereof or abandoament of the Property. have tbe right ~ to collect and retain anch rente as they become due and payable. ~ Upon aoceleration undet paragraph 18 hereof or abandonmeat of the Property, Lender shall be entitled to have a receive: appointed by a # oourt to enter~apon, take posseesion of and manage the Property end to collect the rente of the Property, including those pest dne. All renta oollected by the reoeiver sha11 be appUed 5rst to payment of We ooets of manageznent of the Property and collection of renta, including, bnt not limited b, reoeiver's fees, p~enniums on receiver's bonda and reaeonable attorney'e fees, and then to the auma secured by thia Mortgage.'!Le reoeiver shall be liable to aco~unt only for those reats actually received. . ~ Bo~K 303 PACE ~34 - ; _ s ~ - _ - ~ y ~ ~ ~F$~ rv`