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Home My WebLink About0668 , , . 8. Inspectlon. I.ender mey ma1~e or cawe to be made reawnable entries upon a,nd 'uupection~ of ehe property, pmvided that Lender ahall give Borrower notice prior to any such inapection apecifying reawneble caws th~ef~ related to I.ender'a iak~t ia the Property. 9. Condea~nwtioA.'R~e ~roceeds of any award or claim for dama~e~. direct o: consequential, in connection aith aqy oondemnation or other taking of the property. or part thereof. or for ooaveyanos ia lieu oi oond~na~ion. ars hereby a.ai~,ed and shaU bs paid ~o Lende~. , In the event of a total LakinQ of !he Property. the prooeeds ~hall bs applied to th~ sum~ secared by this Mo~aQe. ~?ith the auoas. if any, paid to Bormwer. In the event of a partial taking of We Property, wilee~ Borro~rer and L~ead~ otherwise agree in writing. Were shall ba applied to the sume secured by this MortQage such proportioa of the proceed~ a~ ia equal to that proportion which the amount of We sum~ eecured by this Mortgage immediately prios to the date of taidng bean to the feir markd value of the Property immediatel,y prior to ths date of takinB. with the balanoe of the proceeds Paid to Borrower. • If the Property is abandoned by Borrower. or i~ aRer notioe by Leader to Borrowes that the ooademnor o~en to meke an award or setUe s . claim for damagea. Borrower fails to respond to Lender aithia 30 de~y~ eR~ez the date such aotice is mailed, Lender is authorised Lo coUect end apply the prooeeds. at I.ender's option. either to resbratioA or repair of the proper~jr or b the snms secured by•this Mott~age. Unless Lende~ and Borrow~ otherwise agree in wtiting, any such application of prooeeds to principal shall aot estead or poetpoae the due daLe of the moath~y installmeata referred to in pasagraphs 1 and 2 henof or change the aawunt of such instalimeats. 10. Borrower Not Released. Eatenaion of the time for paymsat or modification of amortisation of the sums secnred by thia Mortgage granted by Lender to any eucceseor in intereat of Borrower ahall not operate to releaee. ia any manner. the liability of the original Borrower ± and Borrower'e succeeaors ia interesL. Lender shall not be required to oommence proceedinas againet such auoceseor or refuae to e:tend time for paya?ent or othezwiae modify emortization of the sums acaured by this Mortgege by reaeon of any demand made by the original Borrower ~ and Borrower e succeeaors in interest. 11. Forbearanoe by Lender Not a Waiver. Any forbearanoe by Lendez in exerciaing any right or nmedy hennnder. or othez~vise ~ afforded by appUcable law. ahall not be a waiver of or preclude the es~ciee of any ench right or nmedy. The procuremeat of insuraaoe or the paymeat of t~es or other liena or charges by Lender shaU not be a waiver ot I.ender's iight to aocelerate the maturity of the indebt~edaesa ' secured by this Mortgage. 12 Remedies Cumulative. All remediee provided in this Mortgage an distinct sad cumulative to any other right or nmedy nnder this f Mortgage or afforded by lqw or eqnity. Blld IDBJ/ b6 EICIY:l~ OOACU~RtI}I. independently o: euooessively. ~ 13. 3uccessors and Assigns Bound; Joint and 3everal Liability; Captions. The~oovenant8 aad egreements herein oonteined ahaU bind, and the rights hereunder ahall inure to, the reepective aucceeaors and aarigns of I.ender and Borrower, subject to the pmvisiona of : paragraph 17 hereof. All covenante and agreements of Borrower ehaU be joint and eeveral.'I~e captions and headings of the paragrapha of this Mortgage are for covenience only and are not to be used to interpret or define the pmvisions hee~eof. . ~ l4. Notice. E:cept for any notice required under applicable law to be given in anotha msnner, (a) any notice to Borrower pmvided forin thia Mortgage ahall be given by mailing auch notice by certified oail addresscd to$oreower at the Property Addreea or at auch other addr~s as Borrower may designate by notice to I.ender ae pmvided herein. and (b) any natia to Lender shall be given hy certified mail. retarn reoeipt requested, to I.ender's addrees atated hezein or to auch other addreee as Lender may deaignate by notice b Borrower aa provided hee+ein. Any notice pmvided for in fhis 14iortgage ahall be deemed to have been given to Borrower or Lender when given in the manner deeignated hee~ein. 15. Uniform Mortgage; Governing I.aw; 3everability.'11iis form of mortgage combinea uniform oovenanta for national ase and non- ' uniform rnvenanLa with limited var[ationa by juriadiction to oonatitute a uniform aecnrity inetrumenL oovering real property.'ILis Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the event that any proviaion or clauee of this Mortgage or the Note conflicte with applicable law, auch contliM shall not agect other pmvisions of thia Mortgage or the Note which can be givea eHect ` without the conflicting provision. and to this end the proviaions of the Mortgage and the Note are declai+ed to be eeve: able. ` 16. BorrowQr's Copy. Borrower shall be fiuniahed a oonformed oopy of the Note and of thia Mortgage at the time of enecution or after recordation hen~of. 17. 'l~anafer of the Property; Assumption. If all or any part of the Property or an inteieat therein ie eoW or traneferred by Boirower without Lender a prior written,coneent, ~cluding (a) the creation of a lien or encumbranoe eubordinate to thia Mortgage, (b) the creation of a purchase money aecurity interest for houeehold applianoea. (c) a transfer by deviaq deeceat or by operation of law npon the death of a joint tenant or (d) the grant of any leasehold intereat of three yeara or lees not oontaining an option to purchase, Lender may. at Lender'e option, dectare all the suma eecured by thie Mortgage to be imme~iately due and payable. Lender shall have waived auch option to accelerate if. prior _ to the eale or tranafer, Lender and the person to whom the Peoperty ie to be eold or trsnaferred reach agreement in writing that the credit of auch pereon ie satisfactory to Lender and that the interest payable on the eams aecured by this Mortgage ahall be at such rate as Lender ahall requeat: If Lender has waived the option to accelerate provided in thia paragraph 17, and if Borrower'a succeaeor in intereet hae exec~ted a written assumption agreement~acoepted in writing by Lender, Lenderahall release Borrower from all obligations under this Mortgage and the Note. If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in acxordance with paragraph 14 hereoL Such notice ahall provide a period of not leas than 30 daya from the date the notice is rc,ailed within which Borrower may pay the auma declared due. If Borrower fails to pay such suma prior to the expiration of such peridd, Lender may, without further notice or demand on Iiorrower, ~~nvoke any remedies permitted by paragraoh 18 he~eof. . ~ 18. Acceleration; Remedies. E:cept es provided in paragraph 17 hereof, upon Borrower'e breach of any oovenant or i agreement of Borrower in thie Mortgage, including t6e oovenante to pay when due any sums sewred by this Mortgage, Lender ~ prior to acceleration ehall mail notice to Borrower as pmvided in paragraph 146ereof epecifying: (1) the breach; (2) the action reqnired to cure such breach; (3) a date, not lese than 30 daya from the date the notice ia mailed to Borrower, by which such € breach must be cured; and (4) that failure to cure such breach on or before the date epecified in the notice may reeult in ~ acceleration of the sama eecured by thie Mortgage. foreclosure by judicial prooeeding and sale of the Property. The notice shall ; further inform Borrower of the right to reinstste after aoceteration and t6e right to aseert in t6e foreclosure proceeding the ~ non-e~stence of a default or any other defeaee of Borrower to aoceleration and forecloeure. If the breach ia not cured on or ~ before the date epecif ed in the notice, Lender at Lender's option may declare all of the auma secured by thie Mortgage to be ~ immediately due and payable without further demand and may foreclose thie Mortgage by judicial proceeding. Lender shall be ~ entitled to ooliect in euch proceeding all e:penees of torecloeure, including, but not Umited to. reaeonable attorney's feee, and ~ costa of documentary evidence. abatracte and title reporte. ~ 19. Bortower's Right to Reinatate. Notwithatanding I.endei a aoceleration of the eams eecured by fhie Mortgage. Borrower shall have ~ the right to have any proceedings begun by Lender to enforce this Martgage discontinoed at any time prior to entry of a judgment enforcing ~ thia Morfgage if: (a) Borrower pays Lender all aums which would be t~hen dee ander this Mortgage. the Note and notes aeruring Future Advancea, if any, had no soceleration occurred; (b) Borrower curea sll breachea of anyothercovenante or agreements of Borrower contained in R thie Mortgage; (c) Borrower paye all reasonable e:pensea incurred by Lender in enforcing ihe oovenants and agreementa of Borrower ~ contained in thie Mortgage and in enforcing Lender'a remediee as provided in paragrsph 18 hereof, including, but not limited to, reaeonable ` atlomey a feea; and (d) Borrower tekea euch action as Lender may reaeonably require to seeurP that the lien of thie Mortgage, I.ender's interest in the Property and Borrower'a obligation to pay the suma eecured by thie Mortgage shall continue unimpaired_ Upon such payment and cure by Borrower, this Mortgage and the obligatione eecured hereby ahall remain in fuli foroe and effect sa if no acceleration had oocurred. ~ Z0. Aseignment ot Rents; Appointment of fteceiver. Ae additional eecurty hereunder, Borrower hereby aeaigna to I.ender the renta ( 'of the Property. provided that Borrower ahall. prior to aoceleration under paragraph 18hereof or abandonment of the Pro~erty. have fheright to oollect and retain auch rente as they become due and payable. ~ Upon acoeleration under paragraph 18 hereof or abandonment of the Property, Lender shell be entitled to have a receiver appointed by a ~ coart to enter~apon, take poseession of and manage the Property and to collect the rents of the Property, including thoee past due. All renta r collected by the receiver shall be applied first to payment of the ooste of managementof the Property and collection of rents. including, but not ~ timited to, receiver's feea, pretniuma on receiver's bonds and reasonable attorney's fees, and then to the auma eecured by this Mortgage. The receiver shall be liable to aooount only for thoee rents actually received. 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