The URL can be used to link to this page

Home My WebLink About0574 i 8. Iotpectlon. Leader may make or cause to be made rsawneble e~tria upots snd inapxtiona of the property. proeided that Lender shell ~ give Borrower notica prior ~o any auch inapeetion specityin~ reasonable caws therefor related to Lender's intend ia the Property. 9. Condemn~tton. The proceed~ of any a~?asd or claiar ior dama~es, direct or conee9aenti+V. in connett:an nnth any e°Ademnation or other takin8 of the property. or Pert theieof. or for oonveyanoe in lieu of ooadesnnation, are hereby a~si~aed sad shall bs paid to Lendes. ~ In the eveat of a total takin~t of the Prope~ty, the prooeedaAball be ~PPlied {o thgsums secured by thi~ Mortga~e. wiW the escea, if e~ny. ~ paid to Borrower. Ia the event of a partial ta~n~ of the Properf,y. ualen BolrroWR and I.endet otheiwiee aBree ia writinS. there ~hall bs ( applied to the suuu secured by this Mort~a~e ench proportia~ of the proceeds as u equal to that proportion which the amount of the ~ums ~ eecured by this Mortgage immediaLely p~ioc to the date ot talnng Dears to We fair matket value of the Property immediately prior to the date of ~ taking. wiW the balaaaa of the proceeds paid to Borrorrer. ~ If W e Property is abandoned by Borrower. or if. aRer notioe by Lender to Bonrower that the oondemaor offers b make aa a~rard or settle a claua for damages. Borrower faib to respond to Lender within 30 days aR~er the date such notioe is mailed, I.ender ie authorized W collect and i apply the proceeds. at Lender's option, either to reatoration or repair of the prop~ty oT to the sums aecured by this MortgaQe. ` Unle~s Lender end Borrower oWenvise a6e'ee in writu?8. any auch applicetion of peooeed~ to principal shall not eztead or poetpone the dne # date of We moathly instalLaeata ref~red b in pareSraphs 1 and Z hercof or change the amount of such installments. ~ 10. Borrower Not Released. Extensioa of fhe time for paymsnt or modification of amo~isation of the sums secured by this Mortgage j granted by I.ender to any successor in interest of Borrower ahall not operate b rel~se. in anY manner. t~?e liability of the original8orrower 1 and Borrow~'s euaeaeors in interest I.ender shall not be nquired to oommence pra.~eedinge against such aucceseor or refuae to e:tend time i for payment or otherwise modify amortisation of the auma secured by this Mortgage by reason of any demand made by theoriginal Borrower j and Boirmwe~r'a auoceaeore in interes~ 11. Forbearanoe by Lender Not a Waiver. Any forbearanoe by I.enda in e~cercisin8 8nY ri8h~ or remedY herennder. or oWerwise afforded by applicable law. shall not be a waiver of or preclude the exetcise of any euch right or remedy.'11~e procurement of insuranae or the payment of tazee o~ other Gens or charges by Lender ahall not be a waiver of L.ender's righL to aooelerate the maturity of the indebtedness , ~ eecured bY this MortBaBe• ' 12 Remediea Cumulative. All remedies provided in thia Mortgage are distinct and cumulative to any other righ~ or remedy under this ~ Mortgege or at~'orded by law or equity. and may be e:ercise~i aoncurrendy. independently or suocessively. ~ 13. 3ucceeeors and Assigna Bound; Joint and 3everal Liability; Capdons.'ILe oovenanfe and agreements herein contained shall bind, and tM righta hereunder ehall inure to. the respective anoceeso:s and assigns of Lender and Borrower, eubject to the provisions of paragraph 17 hereof. All oovenanta and agreements of Borrower aha11 be loint and several.lLe captiona end headinge of the paragraphs of this Mortgage are for oovenience only and are not to be ueed to interpret or de5ne the ~ovieiona hereoL 14. Notice. E:cept for any notice required under applicable law to be given in another manner. (a) any notice to Borrower pmvided for in thie Mortgage ahall be given by mailing euch notice by certified mail addreseed to Borrower at the Property Addreea or at sach other addrees ee Bon~owa may deaignate by notice to Lendet ae provided herein. and (b) any notice to L,ender ahall be given by certified mail, return reoeipt requested, to l.ender'a addrees atated herein or to auch other addtr,sa ea Lender may deaignate by notice to Borrower se provided herein. My ~ notice provided for in thie Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner deaignated herein. ~ 15. Uniform 1~ortgage; Governing Law; 3everability.l7?ia form of mortgage rnmbines uniform oovenants for aational use and non- _ uniform covenanta with limited variatioas by juriadiction to oonatitute a uniform secnrit3? instrument aovering real pmperty. Thia MortBage ahall be governed by the law of the jwriadiction in which the Property ie located. In the event that any pmviaion or clause of thia Mortgage or the Note conflicte with applicable law. ench conflict shall not aff'ect other proviaions of this Mortgage or the Note which can be given effect without the ooaflictine pmviaion, and to thie end the pmviaions of the Mortgage and the Note are declared to be eeverable. 16. Borrower's Copy. Borrower aha11 be turuiahed a oonfo~med oopy of the Note and of thie Mortgage at the time of ezecution or after recordation hereof. ~ 17. 'l~anafer o! the Properiy; Aesumption. If all or any part of the Property or an interest therein ie eold or transfezred by Borrower without Lendei e prior written consent, r~cluding (a) the creation of a lien or encumbrance subordinate to thie Mortgage, (b) the creation of a f purchase money security interest for houeehold applianoes. (c) a tranafer by devise, deeoent or by operation of law upon the death of a joint ; tenant or (d) the grant of any leasehold interest of three yeara or lese not containing an option to purchaee. Icnder may. at I.ender'a option, ~ declare all the a~ms secured by thie Mortgage to be immediatelY dne and payable. Lender shall have waived auch option to aocelerate if, prior to the sale or transfer, Lender and the pereon to whom the Property ia to be eold or transferred reach agreement in writing that the credit of euch peison is satiafactory to I.ender and that the interest payable on the sums eecured by thia Mortgage ehall be at such rate as I.ender ehall reqnest. If I.ender has waived the option to accelerate provided in thia pare8raph 17, and if Borrower'e succeasor in in~t haa e:ecuted a written assumption agreement accepted in writing by Lender. Leader ahall releaee Borrower from all obligationa under this Mortgage and the ; Note. ~ If Lendez ezerciaes such option to accelerate. Lender shall mail Borrower notice of soceleratioa in aocordance with paragraph 14 hereoL Such notice ahall provide a period of not less than 30 days from the date the notice is tiailed within which Borrower may pay the aums declared ~ due. Ii Borrower faile W pay such sume prior to the expiration of such period, Lender may. without furthe~r notice or demand on Horrower, invoke anY remed~ea Perm~tted bY ParaBraDh 18 hereof. 18. Acceleration; Remediea. Ezcept as provided in paragraph 17 hereof, npon Borrower's breach of any aoveaant or agreement of Borrower in thia Mortgage, iwcluding the oovenants to pay when due any sums secured by this Mortgage, Lender prior to aoceleration shall mall notice to Borrower se provided in paragraph 14 hereof specifying: (1) the breach; (2) tbe actton required to cure such breach; (3) a date, not lees than 30 daye from the date the notice ia mailed to Borrower, by which such breach must be cured; and (4) that failure to cure snch breach on or before the date speciGed in the notioe may reeult in acceleration of the sums eecured by t6is Mortgage, foreclosure by jndicial proc~eeding and sale of t6e Property. The notice ehall further inform Borrower of the right to reinatate aRer acceleration aad the right to aseert in the foreclosure proceedinq the non-eusteace of a default or any other defense ot Borrower to aoceleration and forecloe~ure. If the breach ie not cured on or before the date speci6ed in the notice, Lender at Lender'e option may declare all of the euma secured by.thia l~lortgage to be immediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. Lender shall be entitled to oollect in snch proceeding all e:pensea of foreclosure, including, twt not limited to. reaeonable attorney'e feee, and coete of documentary evidence. abstracte.and title reporte. ~ 19. Borrower's ftight to Reinstste. Notwithatanding Lender a aoceleration of the suma secnred by thia Mortgage, Botrower shall have the right to have any prooeedin8e begun by Lender to enforce this Mortgage dieoontinned at any time prior to entry of a judqment enforcing ~ thia Mortgage if: (a) Borrower pays I.ender a11 suma which would be then due under thie Mortgage, the Note and notee securing Ftiture ~ Advancea, if any. had no acceleration oocurred; (b) Borrower rures all breachee of any other oovenante or agreemaits of Borrower contained in ~ thie Mortgage; (c) Borrower pays all reaaonable eupenaes incurred by Lender in enforcing the oovenants and agreemenLs of Borrower k~ aontained in this Mortgage and in enforcing Lender's remedies as provided ia paragraph 18 hereof, including, bnt not limited to, reasonable ~ attorney's feee; and (d) Borrower takes euch action as I.ender may reaeonably require to aaeure that the lien of thia Mortgage, Lender'e interest in the Property and Borrower'e obligation to pay !he suma eecvred by this Mortgage ahall continue unimpaired. Upon euch payment and cnre ~ by Borrower. Lhis Mortgage and the obligations secured hereby ehall remain in full force and effect as if no acceleration had occt~rred. ' ~ 20. Aasignment of Rente; Appointment of Receiver. Aa additional eerority hereunder. Borrower hereby aeeigns to Lender the r~ta ~ of the Property, pmvided that Borrower ahall, prior to aoceleration under paragraph 18 hereof or abandonment of the Property, have the righi ~ to colled and retein such rents as they become due and payable. ~ Upon accekration under paragraph 18 hereof or abandonment of the Property, Lender ahall be entitled to have a receiver appoiated by a o~urt to enter ~upon, take possesBion of and maaage the Property and to oollect the rent8 of the Property, including those paet due. All reats ~ oollei.ied by the receiver ehall be applied firet to payment of the ooate of management of the Property and coUection of renta, including, but not ~ limited Lo, receiva's feee, premiuma on receiver's bonda and reaeonable attorney e feee, and then to the aume secured by this Mortgage.'I'he " ~ receiver shall be lisble to acoount only for thaee renta actually received. } ~ ~ ~ ' ~ ~ . gooK 307 PAGE 574 : - ~ .n~