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HomeMy WebLinkAbout2282 t f - ~ , i 8. Iaspeetioa. Lnder myr make or cave b be made reasor?abM entries upon and inspations of the property, provided that Calder shall give Borrower notice prior b any each inspsdion specifying reasonable cause tbssefor related b Iwader'a iatered in the Property. 9. Coedermatlon.'1Le proceds of say award or claim for damages, dised a ooassgaential. in oonnectioa with any condemnation oe older taking of the property. a part thereof, or far oonveyana in lies of ooadwanation, are hereby aNigned and shall be paid b Laden. In the event of a total taking of the Property. the proceeds shall be applied b the sums secured by this Mortgage, with the excess, ff aqy. paid b Borrower. In the event of a partial taking of tM Property, ndea Barowee sad Laden otherwise 3grea is writing. there shall bs applied b the sums sswred by this Mortgage loch proportiaa d the proitieds at i. equal b that proportion which the amount o[ the soma secured by this Mortgage immediately prior b the date of taking boas, b the fair market value of We Property immediately prior b the date of taking. with the ba4sroe of the proceeds paid b Borrower. If tbs Property is abandond by Borrower, a ~ after notices by Laden b Baeeowee that the condemnor offers b make an award or settle a claim for damages, Borrower fails b respond b Fader within 90 days after the date arch notice L mailed, Laden is authorised b collect sad apply tM prooeeda, at Leader's option, dther b restoration or repair of the property or b the sums seenrd by this Maeigaga Unlace Lender and Borrower otherwise agree in writing, any arch ap+pHcation of psooesds b prindpal shall swt s:lead or postpone the due date of the manth$r installments referred b in paragraphs 1 and 2 hereof or change the amount of such installments. 10. Borrower Not Released. Bzteaaion of We time for payment os modification of amortisation of We Bums secured by thin Mortgsgs granted by Lender b aqy successor in interest of Borrower shall rat operate b seles~e, in any manner, the liability at the original Borrower and Borrower's snooessors in interest. Laden shall not be required b oommenoe proceedings against each snoceaor or refuse b eztend time for paymer~t or otherwise modify amortisation of the sums seemed by this Mortgage by reason of any.demand made by the original Borrower and Borrower's sucoasoss in interest. 11. Forbearance by Lander Not a Waiver. Any forbearances by Leader is ezacidng any right or saaedy hereunder, or otherwise afforded by applicerble law. shall not be a waiver of or pseclnde the exercise of any each right or remedy. The procaremeat of inamance or the payment of fazes or other liens or charges by Leader shall not be a waiver of I.ende:;s right b aooslerate the maturity of the indebtedness secured by thin Mortgage. 12 Remedies Ceunnlatlve. AU remedies provided in this Maetgage errs dirtlnet sad enmdative b any other right or remedy under this. Mortgage err afforded by lees or egaity. and may be e:ercisal ooncrosesrtly, independently or snooesdvely. 13. Snooessors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure t0. the rapedive saooeaaors and assigns of Lender and Borrower. subject b the providona of paragraph 17 hereof: All oovenaats and agreements of Borrower shall be joint and several. The captions sad headings of the paragraphs of this Mortgage are far ooveaiaice only and are not b be seed b interpret err define the provisions hereof 14. Notice. Ezoept for any notice required under applicable law b be given is another manner. (a) any notice b Borrower provided for in - this Mortgage shall be given by mailing such notice by certified mail addressed b Borrower at the Property Address or at aachother addrea as - Borrowermay designate by notice b Leader as provided herein, and (b) say notice b Lender shall be given by certified mail, reaasn reodpt requested. b Lender's addrea elated herds or b such other address ant Leader may derignate by notice b Borrower as provided herein. Any notice provided for in this Mortgage shall be deemed b have been given b Borrower or Leader when given in the manner designated herein. 15. Uniform Mortgage; Governing Laves. Severability. This form of mortgage combiner uniform ooveaants for national use and non- uniform covenants with limited variations by jnrisdidioa b conatitate a uniform security inatrunnent covering real property. Ibis Mortgage shall be governed by the law of the jnriadidion in which the Property is located. In the event that any provision or clause of this Mortgage or the Note conflicts with applicable law. such conflict shall not affect other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and b this end the provisions of the Mortgage and We Note are declared b be severable. 16. Borrower's Copy. Borrower shall be forniahed a conformed Dopy of the Note and of this Mortgage at the time of ezecubion or after recordation hereof: 17. Transfer of the Property: Assamptiosr. U all or any part of the Property or an interest therein is sold or transferred by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance sabordinate to this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise, descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or leer not containing an option b purchase, Fender may, at I,ender'a option, declare all the some secured by this Mortgage b be immediately due and payable. Lender shall have waived such option b accelerate if, prior to the sale or transfer, Leader and the person b whom the Property is b be sold or transferred reach agreement in writing that the creditof such person is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender shall request. If Leader has waived the option b aooelerate provided in this paragraph 17, and if Borrower's successor in interest has ezearted a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all obligations under this Mortgage and the Note. r If Lender exercises such option b accelerate, Lender shall mail Borrower notice of aooeleratioa in sooordance with paragraph 14 hereof: Such notice shall provide a period of not less than 30 days fiom the date the notice is mailed within which Borrower may pay the sums declared due. If Borrower fails b pay such sums prior b the expiration of such period, Lender may, without farther notice or demand on Borrower, invoke any setnedies permitted by paragraoh 18 hereof 18. Acceleration; Iemedies. Lzeept as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or agreement otBosa~ower in this Mortgage. including the covenants to pay when doe any soma secured by this Mortgage, Leadear prior to acceleration shaU~mail notice to Borrower as provided in paragraph 14 hereof spedlying: (1) the breach; (2) the action required to care such breach; (3) a date, not less than 30 days from the date the notice is mailed to Borrower, by whkh such ? breach must be cured; and (4) that failure -to care such breach on or before the date specified in the nodoe may resalt in ~ acceleration of the some secured by this Mortgage, foreclosure by judicial proceeding and sale otthe Property. The notice shall further inform Borrower of the right to reinstate aRer acceleration and the right to assert in the foreclosure proceedingthe - non-eristence of a delanlt or any other defense of Borrower to acceleration sad foreclosure. If the breach L not cared on or before the date specified to the notice, Leader at Lender's option may declare all otthe sasns secured by this Mortgae to be immediately doe and payable without farther demand sad may foreclose thL Mortgage by judicial proceeding. Lender shall be entitled to collect in such proceeding all ezpensea of foreclosure, including, but not limited to, reasonable attorney's fees, and costa of documentary evidence, abstracts and title reports. ; 19. Borrower's Right to Reinstate. NotwithstandingLender's aooeleration ofthe aamssecured bythis Mortgage, Borrower shall have the right b have any proceedings begun by Lender b enforce this Mortgage disoontinned at any time prior b entry of a judgment enforcing e this Mortgage if: (a) Borrower pays Lender all sums which world be then due ender this Mortgage, the Note and notes securing F~tnre ~ Advances, if any, had no acceleration occurred: (b) Borrower cores all breaches of any other oovenaats or agreements of Borrower eontair?ed in this Mortgage; (c) Borrower pays all reasonable expenses incareed by Lender in enforcing the ooveaants and agreements of Borrower contained in this Mortgage and in enforcing Leader's remedies as provided in paragraph 18 hereof, including, but not limited b, reasonable attorney's fee; and (d) Borrower taken such action as Lender may reasonably require b assure that the lies of this Mortgage, Leader's interest in the Property and Borrower's obligation to pay the sums secured by this Mortgage shall eontinae unimpaired. Upon such payment and care by Borrower, this Mortgage sad the obligations :scared hereby shall. remain is full force and effect as if no acceleration had occurred. 20. Assignment of Rents; Appointment of Receiver. As additional security hereunder, Borrower hereby assigns b Leader the rents of the Property, provided tl?at Borrower shall, prior b acceleration Hader paragraph 18 hereof or abandonment of the to Dolled and main arch rents as they become due and payable. ~PertY. have the right ~ Upon acceleration Hader-paragraph 18 hereof or abandonment of the Property, Lender shall be entitled b have a receiver appointed by a t coact b eaternpon, take paesasion of and manage the Property and b collect the rents of the Property, including those past due. AU rata collected by the receiver shall be applied first b payment of the costs of management of the Property and collection of rests, including, but not limited b, receiver's fee, preminnu on receiver's bonds and r+eawnabk attorney's fees, and then b the sums secured by this Mortgage. The receiver shall be liable b account only for those rents actually received. { - 1 € ss~~~~~~s~ pp - i 300K JUe~ PACE2270 A - - - - - g . n r . ~ -