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Home My WebLink About0777 1. 8. ln~pection. l.ender ma4y make or cxuse to be made reaionable antrie~ upon aad inapectioru oithe pmperty, provided thet Lander ~hall give Borrower notice prior to any sucA inspection specitying reasonable cawe therefor nlated to l.ender'~ intereat in !he Property. 9. CORde1M6l{OQ.'t~e proceed~ of any ewead or claim for dameges, direct or consequential. in connection with any oondemnetion or other taking of the property, or pert thereot. or for convayanoe in lieu of oondemnation, are hereby assigned and ~haU be paid to I.endes. In the event of s total takin~ of the Property. the proceeds shall be applied to the ~uma ~ecured by this Mortga~e, with the esoe~s. ii any~ ` paid to Borrowes. Ia the eveut of a partial taking of the Property. unless Ho=tower and Lend~ otherwise agree ia w~nting. thers shall be ' applied to the auma secund by thia Mortgage such proportion of the proceeds as is equsl to that proportioa which the amount ot the sums secured by lhis Mortgage immediately prior to the date of taking bean b the fsir market value of the Property immediately prior to the data of s taking. with the balanca oi the proceeds paid b Borrower. If the Property is abandoaed by Borrower. or if. aRer notioe by Lender to Borrower that the oondea?nor ogen to onake an award or ~ettle a claim for damages. Borrower feila to reepond to Lender wiWin 30 days after the date such potioe is mailed. Lendez ia authoriud to ooUect and apply the prooeeds, et I.endar's option, eith~ b restoratioa or repair of the property or to the sums secured by this Mortga~e. . Unlesa Lender and Borrower oth~rwise agree in writing, any such applicatioa of proceeds to principal shall not ~tead or postpone the due date of the monthly inatallmente referred to ia paregraph~ 1 and 2 hereof or change the amount of such instellmenta. 10. Borrower No! Releaeed. E:tension of the time tor paymant or modification o! amortization of the sums eecured by this Mortgage granted by Lender to any succeasor in interest of Borrower nhall not operate Lo releaee. in any manner. the liability of the original Borrower i and Borrower's eucceaaora in intereat I.endes shall not be required to oommence pra.~eedinga againat such suc~ceasor or refuee to e:tend time - for payment or otherwiae modify amortization of the eume secured by tliia Mortgage by reaaon of any demand made by the original Rorrower and Borrower s succeaeors in interesL. 11. Forbearaace by Lender Not e Waiver. My forbearanoe by Lender in e:erciaing any right or nmedy henuader, or otherwi~e afforded by applicable law, shall not be a waiver of or preclude tha e:erciee of any euch right or remedy. The procurement of insuranoe or We payment of tauee or other liena or chargee by Lender shall not be a waiver of I.ender'e right to accelerate the maturity of the indebtednesa aecured by this Mortgage. ~ . 12. Remediee Cumulative. All remediee provided in thie Mortgage are distinct and cumulative to any other right or remedy under this Mortgage or af'fforded by law or equity. and may be e~ercise+i ooncurrendy. independendy os successively. ~ 13. 3ucceesors end Aesigno Bound; Joint and 3everal I.iability; Captfoas. The oovenants and agreemente h~ein oontained ahall r bind, and the rights hereunder ahall inure to, the reapective succeesors and aasigns of Lender and Borrower, aubject !o the provieioaa of E paragraph 17 hereof. All covenante and agreementa of Borrower ahall be joint and eeveral.l~e captione and headinga of the paragrapha of r this Mortgage are for covenience only and are not to be ueed to interpret or defina the provieions hereof. 14. Notice. Except for any notice required under applicable taw to be given in another manner, (a) any notice to Borrow~ pmvided for in ` this Mortgage ehall be given by mailing such notice by certi6ed mail addreseed to Boreower at the Property Addreae or at such other address es ' E;orrower may designate by notice to I.ender ae provided herein, and (b) any notice Lo Lender shall be given by ceiti5ed mail. retum reoeipt requested, to Lender'e addrese stated herein or to auch other addrees ae Lender may deaignate by notice to Borrower ae provided herein. My notice provided for in thia Mortgage ehall be deemed to have been given to Borrower or Lender when given in the menner designeted herein. c 15. Unifortp Mortgage; Governing I.aw; 3everability. Thia form of mortgage combinea uniform oovenanta for national uee and noa- uniform covenante with limited variationa by juriediction to conetitute a uniform eecwity inatrument aovering real property. This Mortgage ' ; shell be governed by the law of the jurisdiction in which the Property ie located. In the event that any provieion or clauee of this Mortgage or the Note contlicta with applicable law, such conflict ahall not affect other pmvisiona of thia Mortgage or the Note whieh can be given effect without the conflicting provision, and b thia end the proviaiona of the Mortgage and the Note are declared to be eeverable. 16. Borrower'e Copy. Borrower ahall be furniahed a rnnformed oopy of the Note and of thia Mortgage at the time of e:ecution or after recordation hereoL 1 T. Tranafer ot the Property; Aseumption. If all or any part of the Property or an interest therein ia eold or tranaferred by Borrower without I.ender'e prior written coneent, e:cluding (a) the creation of a lien or encnmbrance eubordinate to Wia Mortgage, (b) the creation of a purchase money eec~rity interest for houeehold appliancea, (c) a tranefer by deviBe, deecent or by operation of law upon the death of a joint tenant or (d) the grant of any leseehold intereat of three years or leas not oontaining an option to purchaee, Lender may, at Leader s option, declare all the suma eecured by this Mortgage to be immediately due and payable. Lender shall have waived euch oFtion to socelerate if. prior to the sale or tranafer, Lender and the person to whom the Property is to be eold or tranafen~ed reach agreement in writing that the rredit of auch person ie satiafactory to Lender and that the interest payable on the euma secured by this Mortgage shall be at euch rate as Lender ahall request. If Lender has waived the option to accelerate provided in this paragraph 17, and it Borrower's successor in interest has executed a w-ritten asaumption agreement accepted in writing by Lender, Lender shall release Botrower from a11 obligations under thie Mortgage and the : Note. ~ If Lender exercises such option to accelerate, Lender ahall mail Borrower notice of acceleration in socordance with paragraph 14 hereoL E Such notice ahall provide a period of not less than 30 daya trom the date the aotice ia ~r.ailed within which Borrower may pay the aums declared . due. If Borrowec fails to pay such suma prior to the expiration of such period, Lender may, without further notice or demand on ~3orrower, ~ invoke any remediea permitted by paragraoh 18 hereof. s 18. Acceleration; Remediee. E:cept ae pmvided in paregraph 1T 6ereof, upoa Borrower's breach of any oovenant or ~ agreement of Borrower in this Mortgage. including the oovenanta to pay when due any sums secared by thia Mortgage, I.ender prior to acceleration ehall mail notice to Borrower se provided in paragrap614 hereof specifying: (1) the breach; (2) the action ~ required to cure such breach; (3) a date, not lese than 30 daye from the date the notice ie mailed to Borrower, by which euch ~ breach muat be cured; and (4) that failure to cwe euch breach on or before the date epecified in the aotice may result in acceleration of the eums secured by thie Mortgage. foreclosure by judicial procecding and eale of the Property. The notice shali further inform Borrower of the right to reinetate after aoceleration and the right to aeaert in the toreclosure proceeding the non-eziatence of a default or any other defense of Borrower to aoceleration and forecloanre. If the breach ie not cured on or before the date specified in the notice. Lender at Lender's option may declare all of t6e sume Becured by thie Mortgage to be immediately due and peyable without further demand and may forecloae this Mortgage by judicial proceeding. Lender ahall be entitled to collect in such proceeding all e:penaes of foreclosure, including. but not limited to, reasonable attorney'e fees, and ~ coets of docnmentary evidence, abstracts and title reports. 19. Borrower'e Right to Reiastate. Notwithatanding Lender s acceleration of the eume aecured by thie Mortgage, Borrower ahall have ~ the right to have any proceedinga begun by Lender to enforce this Mortgage diecantinued ai any time prior to entry of a judgment enforcing _ this Mortgege if: (a) Borrower pays I.ender all auma which would be then due under this Mortgage, the Note and notea aecuring ~ture ~ Advancea, if any, had no acceleration occarred; (b) Borrower curea all breaches of any other covenante or agreements of Borrower contained in thia Mortgage; (c) Borrower paye all reaaonable expenaee incurred by I.ender in enforcing the oovenants and agreements of Borrower oontained in thie Mortgege and in enforcing Lender'a remedies as provided in paragraph 18 hereof, includittg, but not limited to, reseonable ~ attorney i feea; and (d) Borrower takes such action as Lender may reasonably require to assure that the lien of thia Mortgage. I.ender's interest ~ in the Property and Borrower a obligation to pay the aume eecured by this Mortgage ahall continue unimpaired. Upon euch payment and cure ~ by Eiorrower, thie Mortgage and the obligations eecured hereby ahall remain in full foroe and effect as if no acceleration had occuned. ~ 20. Asaignment of Rente; Appointment of Receiver. As additionel eec~irity hereunder, Borrower hereby aeaigns to Lender the renta ~ of the Property, provided that Borrower ahall. prior to acceleration under parag;aph 18 hereof or abandonment of the Property. have the right ~ to collect and retain euch rentu ae they become due and payable. Upon acceleration under paragraph 18 hereof or abandonment of the Property. I.ender ahall be entitled to have a receiver appointed by a ~ ~ oourt to enter~upon, take poeaeeaion of and managethe Property and to coUect the rente of the Property, including those past due. All rente , ~ collected by the receiver shall be applied first to payment of the oosta of management of the Property and collection of renta, including, bnt not - limited to, receiver a fees, premiume on receiver'e bonda and reasonable attorney e feea, and then to the sums aecund by thie Mortgage. The ~ receiver shall be liable to acoount only for thoee rents actually received. 7 ~ } ~ ~ ~ooK 3U3 ~acE ~ ~ ~ . ~ ~ _ ~ - - - - . _ , . ~ ,t ~ ~ w.« .a~~~~ ~z,~. ~ + . _ s+s' ; _ . - . . ~ i