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Home My WebLink About0099 i , i' • • ~ ~ ~ ' . ' 8. In~pection. Lender mqy make or cau~e to be made rea~onable entrie~ upon and inspections of the pwparty. provided Wat Lend~ shaA g1V@ BOlCOWE! l10h0! pllOr ZO 8D~? ~YC~1 lil~plC~IOA SPlC1~}RAB fE9SOA8IliQ C811~ ~IIQIlfO~ ill9~ ~O LQAt~QT S l~~fliESt 111 We PRO~IU?. ; 9. Coademaadon.'1l~e prooeede of any award or claim for dama~a. direct or con~equeatisl. in conncetioa wiW aqy ooademnation or other talrinn of the property. ar part thereof. or for ooaveyanos in Ueu oi ooademnatioa. are hereby a~eigned and sbaU bs paid to Lender. [a the aveat of a total tahin~ of the PropedY. the pmoeed~ shall be applied to the sums secured by this Mortgega ~vith We esoea, if any. paid b Bonvwer. Yn the event of a partial talong of tbe Property. ualea Bosrower sad Lender otherwise a~ree in ~rriting, Were shall be apptied to the sums ~ecnred by this Mortgs~e such proportio4 at the prooeedr as is equal to that proportioa which We amonnt of the sums eecund by this Mortgage immediately prior to the date of taking bears to We [sir market value of the Property immediably prior to the date of ~ taking, with the balence of tha proceed~ paid to Borrowet. If the Property u absadoned by Bosr+owrer. or if. aRer aotioe by Lender to Bom?wer tl~at the oondeinnor offere to make an a~vard or settle a claim fos dameges, Horrower fails to respond to Le~der within 30 days aftar We date such notioe is mailed, Lender ia auWorired to oollect and BPP~Y ~e proceeds. at Lendez's option. eithar b restoration or repais of the pmpe~ty or to the sums secnred by this Mottgage. - Udess Leada and Borrower otherwiie agree in wrriting, any snch applicaaon of prooeeds to princapal shall not estend or po~tpone the due ' ~ date of the monthly insLallmenfe referred to ia paregraphs 1 and 2 hereof or change the amouat of snch installments. 10. Borrower Not Releaaed. Eztension of the time for paymant or modificat3on of amortization of the euma secured by this Mortgage grented by I.ender to any eucoeseor in interest of Borrower ahaU not operate to release, in any maaner. ihe liability of We original Borrower and Borrnwer's sucoeeeors in interea~. Lender shall not be required !o oommeace proc~eedinge against such suoceesor or ref~se to eztend tims p~sy-~iteni o~ ~ih~-~e m~3ify am~~tizatiotti of the suius s~turt~3 by thi3 Moii83S8 b5? ressioa of any t~emstn~ matlC hy Lhe G~'sgiFt~1 Bo3TO~r~ and Borrower's auccessore in interest. 11. Forbearanoe by Lender Not a Waiver. Any forbearanoe by Let~der in e:erciaing any right or remedy henwnder. or otherwise afforded 6y applicable law. ahall aot be a waiver of or preclude the e:ercise of any such right or remedy.'11~e procure~?ent of ineurance or fhe payment of teaes or oth~ liene or charges by I.ender ehall not be a waiver of Lender's right to accelerate the maturity of the indebtedness • secured by Wia Mortgage. 12 Remediea Camulative. All remediee provided in this Mortgage are diatinct and cumulative to any other righL or remedy uader this f Mortgage or afforded by law or equity. and may be esercise~i ooncurrendy, independendy or auooessively. # 13. Suocessors and Assigns Bonnd; Joint and 3everal I.tability; Caption~.'ILe oovenants aad agreementa herein oontained shaU ; bind, and the righte herennder ahall innn to. the napective enooessors and assigqs aE. j,yqrdey ~d Borrower. subject to the proviaions of paragraph 1? hereof. All rnvenaats and agraements of Boimwa shall be joint and eev~ral. The captiona aad headings of the paragraphs of thie Mortgage are for covenienoe only and an not b be uaed to interpret or de5ne tbe proviaions heceof. 14. Notice. Except for any notice required under appliceble law to be given in another manner. (a) any notice to Borrower provided for in this Mortgage ahall be given by mailing snch notice by oerti6ed mail addrese~d to Borrower at the Property Addreee or et such other addrees es Bormwer may designate by notice to Lender as provided henin, and (b) any natioe to Lender ehall be given by cettified mail, return receipt requested, to I.ender's addreaa atated hezein or to auch other address aa Lend~ may designate by notice b Boaowez ae provided herein. Any notice provided !or in this Mortgage ehall be deemed to have been given b Borrower or Lender when given in the manner designated hrrein. 15. Uniform Mortgage; Governing I.aw; 3everwbility. This form of mortgage combinee uniform aovenants for national use and non- unifottn covenants with limited variatione by jurisdiction to oonetitute a nniform eecnrity instruwent oovering real pmperty. Thie Mortgage ahall be governedby the law of the jurisdictioa in which the Property ia locsted. In the event that any pmviaion or clause of this Mortgage or the Note contlicts with applicable law, auch conflict ahall not aftect ath~ provisioas of this Mortgage or the NoLe which can be given effcct without the oonilicting pmvision, and to this end the pmviaions of the Mortgage and the Note are deciared to be eeverable. ~ 16. Borrower's Copy. Borrower ahall be furnished a oonformed oopy of the Note and of this Mortgage at the time of execution or after • recordatioa hereof. - 17.'l~ansfer ot the Propertp; Assumption. If all or any part of the Property or an intereat therein is sold or transferred by Borrower - , without I.ender'e prior written consent, eaccluding (a) the creation of a lien or encumbrance aubordinate to thia Mortgege, (b) the creation of a purchaee money eecurity interest for honsehoid appliancea, (c) a transfer by devise, descent or by operation of law u~on the death of a joint tenant or (d) the grant of any leasehold intereat of three yeara or less not ooataining an option to purchase, Lender may, at Lendei s option, declare all the eume aecured by thia Mortgage to be immediately due and payable. Lender ehall have weived such option to aocelerate if. prior to the eale or transfer, Lender and the person to whom the Property ia to be eold or tranaferred reach agreement in writing that the credit of auch peraon ia eatiafactory to Lender and that the intereat payable on the aums secured by thiB Mortgage ahall be at auch rate es Lender shall request. If Lender hae waived the option to amelerate provided in thia paragraph 17, and if Borrower's aucceasor in intecest has ezec~ted a ~ written aseumption agreement socepted in writing by Lender. Lender shall ydeaee Borrower from all obligationa ur~er thie Mortgage and the ~ Note. i If Lender e~cerciaes such option to aecelerate, Lender ahall mail Iiorrower notice of acoeleration in socordance with paragraph 14 hereot ; Such notice shall ptovide a period of not leas than 30 daya from the date the notice is Q.siled within which Borrower may pey the sume declae~ed ' due. If Borrower fails to pay auch suma ptior to the e:p'vation of such period, Lender may, without further notice or demand on E3orrower, ! ?nvoke any remediea permitted by paragraoh 18 hereof. ' ~ • 18. Aoceleration; Remedies. E:cept ss provided in paragrap6 17 hereot. upon Borrower'e breach of aay oovenant or E agreement of Borrower in this Mortguge. inctnding the oovenanta to pay when due any sume secured by this Ddortgage, Lender ~ prior to soceleration ehall mail notice to Borrower as provided in paragraph 14 hereof epecifying: (1) the breach; (2) t6e ectioa ~ required to cure snch breach; (3) a date, not less than 30 daye from the date t6e notice is mailed ta Borrower, by which such breac6 muet be cared; and (4) that failure to cure auch breach on or before t6e dste speciRed in the natice may result in ~ acceleration of the sume aeeured by this Mortgage, toreclosure by judicial prooe~eding and eale of the Property. T6e notice ehall ~ fu rther inform Borrower of the right to reinstete aRer acceleration and the right to assert in the foreclosure proceeding the t non-e:ietence ot a default or any ot6er defease of Borrower to acceleration and foreclosure. It the breach ie aot cured oa or # betore the date epecified in We notice, Lender at Lender's option may declare all of the sums secured by thta Mortgage to be ~ immediately due and payable wfthout further demand and may forecloae thie Mortga~e by judicial proceeding. I.ender ehall be ~ entitled to collect in such proceeding all ezpenses otforecloeure. including, but not limited to. reaeonable attorney'e fees. and ~ coste of documentery evidence, abetracts and title reports. € l9. Borrower's Aight to Reinatate. Notwithatanding Lender s acceleration of the sums secured by this Mortgage, Borrower ehall have _ the right to have any pmceedinga begun by [.ender to enforce thie Mortgage diernatinued at any time prior to entry of a judgment enforcing thie Mortgege if: (a) Borrower pays Lender all sums which would be then due under this Mortgage, the Note and notes securing Future ~ Advanaes, if any, had no aoceleration occurred; (b) Borrower curea a11 breachea of any other oovenants or agreements of Borrower contained in ~ this Mortgage; (c) Borrowet psys all reasonable eupeneea incurred by Lender in enforcing the oovenants and agreementa of Borrower ~ contained in thia Mortgage and in enforcing I.ender's remedies as provided in paragraph 18 hereof, inclading, but not limited to, reasonable attomey a fees; and (d) Borrower takee such action ae Lender may reaeonably requin to aaeure that the lien of thia Mortgage, Lender's interest in the Property and Borrower s obligation to pay the eume secared by thia Mortgage ehall continue unimpaired. Upon such payment and cnre ; by Borrower, thie Mortgage and the obligationa eecured hereby shall remain in full force and effect as if no acceleration had occnrred. 20. Assignment of Rents; Appointment of Receiver. As additional eecurity hereunder, Borrower hereby assigns to Lender the zecita - of the Property, provided that Borrower shalt, prior to aoceleration under paragraph 18 hereof or abandonment of the Property, have the right ~ to collect and ntain such rents as they become due and payable. Upon aooeleration under paragraph 18 hereof or abendonment of the Property, Lender ehall be entided to have a reoeiver appointed by a ; oourt b entet~upon, take poeeeaeion of and menage the Pro~+erty and to collect the renta of the Property. including those past due. All renta ° collected by the reoeiver shall be applied 5rst b payment of the ooeta of management of the Property and oollection of rents, including, but not " ~ limited to, receiver's feee, premiums on receiv~'s bonde and reseonable attorney'e fees, and then to the aume eecured by thia Mortgage. The ~ receiver shall be liable to acnount only for thoee renta actually received. ~ ~ ~ ~ , - BooK 311 PqGE :t~~