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Home My WebLink About0107 . _ _ . ' i . . ~ ~ t • ' V • ` } , ~ ~ S. In~pection. I.eAder me~y make or cawe b be made re~~onable eatrie~ upon atid ifnspectior~a oithe property~ pmvided Wat Lender ~hell ~ givs Borrower aotioe prior b aay sucl~ uupection ~Pecifyu?B reesonabk cause therefor relaeed to Lender'~ intered ia tbe Prop~ty. ~ 9. Condemnatlon.'IUe prooeed~ of any award or claim for damage~, direct or con~equential. in oonnection witb any oondemnstioa ar oLher tating of the propesty. ~ part thereof. or for ooaveyaaca in lieu of aonde~nnation, are hereby essigaed aud shall be psid b Lend~. In fhe eveat of a btal takinQ of the Propedy, the procesda shall bs applied to the sums secured by thi~ Morf~aQe, wiW the esoen, if any, ~ paid to Borrower. In the event of a paitial taking oi tbe Propar4yi. unlea Bo:rower end Lendes oWerwi~s agree in writin~. there sheU be ! applied to the s~ms securad by thi~ Mort~a~e ~uch proportioa of the pc~ooeed~ eu is equal to that proportion which the amount of We sum~ ~ secured by thia Mortgage immediately prior to We date of taking bean to the isir merket vatue of We Property immediatel,y prar Lo the date of i taking. aith the balaaoa of tha prooeed~ paid to Boreower. ~ If the Prope:ty ie abnndoned by Borrower. or if. after notioe by Lend~ eo Borrovver that the oondemnor ogers to make an a~vard or settle a ? claua for damage~. Borrowror failo b respond to Lei?der within 30 days after We date such notioe is mailed, I.ender is authotir~ed to oollact aad ~ apply the prooeed~. at Lender a optioa. either to restoration or repair of the property os to the aum~ secured by thia M~tgags. ; Unless LeAder and Borrower otherwise agree ia writing. eay such epplicstion of proceeds to principal shall not eztend or po~tpone the dne k date of the monthly inatalimenb nferred to in paragraphs 1 and 2 he~eof or changs tha amount of wch uutellmenta. ; 10. Borrower Not Iteleaeed. E:teaaion of the time for paymant or modification of'amortisation of the sums secured by this Mortgage ~ granted by I.ender to any sucoessor in iatenst of Borrower ahall aot operate to nlease. iu any manner~ the liabiliqr of the original Borrower ~ and Borrower a snoceseon in intereek Leader shall not be required to oommence prooeedings against euch suoceeaor or refuse to eztead time ~ for payment or otherwise modify amortization of the sums eecured by thi.s Mortgage by nason of any demand made by the ori~inal Borrower ~ and Borrower e succ~eesors in interest. _ I1. Forbearanoe by I.ender Not a Waiver. My forbearaaoe by L~der in eseerising any right or nmedy herenndes. or othezwiae afforded by applicable lewr. ahall aot be e waiver of or preclude the e~cercise of aay anch right or nmedy. The procuremeat of insnranoe or the payment of t~es or other liens or charges by I.end~ shall not be a waiver of Lendet's right to aocelerate the maturity of the indcbtedaess aecured by this Mortgage. ~ 12 Remedies Cumnlative. All nmedies provided in thie Moregage are distinct end cumulative to any other right or remedy under this Mortgege or afforded by law or equity. aad may be ezerciaerl ooncqrrently, independestly ar suocessivdy. ; 13. 3uooessors and Aseigns Bound; Joint snd Several Liability; Captions.'ibe oovenante and agrcements hez~ein oontained ahall ~ bind. an~ We rights hereunder shall inure to. the respective suocesaors and easigas of Lender aad Bormwer, eubject to the proviaions of ~ paragraph 17 hereof. All ooveaanta and agreements of Horrower ahall be joint aad several.l'he captions and headings of fhe paragraphs of ~ this Mortgage are for covenience only and an Aot to be used b interpnt or de5ne the provisions hereof. ~ 14. Notice. Exoept for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in ~ thie Mortgage ehall be given by mailing such notice by certified mei! addreesed to BotrDwer at the Property Address or at such other addnss as ~ Borrowez may designate by' notioe to Lender aa pmvided herein, and (b) any notioe b Lender shall be given by certified mail. return reoeipt ; requeeted, to Lendez's addreas atated herein or to such other address as Lender may de~ignate by notioe to Borrow+er as provided herein. Any notice pmvided for in thia Mortgage shal! be deemed to have been giva? to Borrower or Lender when given in the manner designated hetein. } 15. Uniform Mortgage; Governing I.aw; $everability.'l~is form of mortgege combines uniform oovenanta fornational use and non- ~ uniform rnvenants with limited variationa by jurisdiction to aonatitute a uniform aecurity instru~uent oovering teal property.'Ibia Mortgage ' shall be governed by the Iaw of the juriediction in which the Property is located. In the event that any provieion or clause of this Mortgage or ~ the Note rnntlicts with applicable law. euch conllict shall not agect other provisions of this Mortgage or the Note which can be given effect = without the rnntlicting provision, and to thie end the proviaiona of the Mortgege and the Note are declared to be severable. ~ 16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of thia Mortgage at the time of ~ecution or after ; recordation hereo! ' I7. 'ISranster of the Property; Aeaumption. If all or any part of the P~roperty or an iaterest therein ia eold or tranaferred by Borrower ~ without Lender'e prior written coneent, e:duding (a) the creation of a lien or encvmbrance aubordinate to thia Mortgege, (b) the creation of a ' purchaee money eecurity interest for household appliances, (c) a tranafer by deviee, descent or by operation of law upon the death of a joint ; tenant or (d) tSe grant of any leaeehold intereat of three yeara or leas not containing an option to pnrchase. I.ender may. at I,ender's opRion; declare all the sums secured by thia 111ortgage to be immediately due and payable. Leader shall have waived sach option to aocelerate if, psiar ~ to the sate ar transfer~ i.ender and the peraon to whom the Property is to be sold or transferre~ reach agreement in writing that the ce+edit of such ' peraon is satiafactory to Lender and that the interest payable on the sums aecured by this Mortgage ehall be ai auch rate as Lender ehall ~ request. If Lender has waived the option to accelerate provided in thia paragraph 17, and if Borrower a aucceseor in intereet has e~cecuted a ~ written aseumption agreement accepted in writing by I.ender, Lender ahall releaee Borrower from all obligationa under thia Mortgage and the Note. ~ . ~ If I.ender e:errisea such o tion to accelerate, Lender shall mail Borrower notice of aoceleration in accordance with ara a h 14 hereoL p P P 6r P ; ~ Such notice ehall provide a period of not leae than 30 daye from the date the notice ia cr,ailed within which Borrower may pay the aums declared E due. If Borrower fails to pay such suma prior to the e~cpiration of sach period. Lender may, without furthez notice or demand oa Iiorrower, ~ invoke any remedies permitted by paragraoh 18 hereof. ~ ` 18. Aoceleratioa; Remedies. Ezcept as provided ia paragsaph l7 hereof, upon Borrower's breach of any covenant or t agreement of Borrower in this Mortgage, including t6e oovenants to pay w6en due any sams secured by thie Mortgage, Lender prior to aa:eleration ahall mail notice to Borrower ae provided in paragraph 14 hereof specifytng: (1) the breach; (2) t6e action required to cure euc6 breach; (3) a date, not less than 30 daya from tbe date the notice is mailed to Borrower, by w6ich snch breach muet be cured: and (4) that failure to cnre euch breach on or before the date specified in the notice m~y result in acceleration of the sums secvred by t6is blortgage. foreclosure by judicial prooeeding and sale of the Property. The notice ehall ~ further inform Borrower ot the rig6t to reinatate aRer aooeleration and the right to as.ert in the toreclosure proceeding the z non-eziatence of a default or any other defense o! Borrower to aoceleration and foreclosure. If the bresch is not cured,on or ~ before the date specifted in the notice, Lender at Lender's option mey declare all of the eume secnred by thie Mortgage to be a immediately due and payable withont further demand and may foreclose this Mortgege by judiciel proceeding. Lender ahall be ~ entitled to oollect in such procceding all ezpenaes of foreclosure, including. bat aot iimited to, reasonable attoraey's feea, and ~ costs of documentary evidence, abetracts and titie reports. ~ 19. Borrower'e Right to Reinstate. Notwithetanding Lender a aooeleration of the eums aecurea by thie Mortgage. Borrower ehall have ~ the right to have any proceedinga begun by Lender to enforce thia Mortgage diecontinued at any time prior to entry of a judgwent enforcing thia Mortgage if: (a) Borrower paye Lender all auma which would be then due under this Mortgage, the Note and notea securing Future ~ Advances, if any, had no aoceleration oocurred; (b) Botrower cares all breachee of any other oovenants or agreemente of Borrower contained in this Mortgage; (c) Borrower pays all reasonable ezpensea incarred by Lender in enforciag the covenants and agreemente of Borrower ~ contained in this Mortgage and in enforcing Lender's remedies aa pmvided in paragraph 18 hereof. including, bot not limited to, reasonable ~ attorney's feea; and (d) Borrower takea auch action ae Lender may reasonably require to sesure that the lien of thia Mortgage, Lender's interest ~ in the Property r.nd Borrower s obligation to pay the auma eecured by thie Mortgage shall continue unimpaired. Upon such payment and cure = by Borrower, thie Mortgage and the obligationa sec~red hereby ahall remain in full foroe 8nd effect ea if no acceleration had acxurred. y 20. Assignment of Rents; Appointment of Receiver. As additionel eecurity hereunder, Borrower hereby aeaigns to Let~der the r~ts ; of the Property. pmvided that Borrower shall, prior to acceleration under paragraph 18 hereof or abandonment of the Property, have the right ~ to collect and retain such rente as they ba~ome due and payable. . a Upon acceleration nnder paragraph 18 hereof or abandonment of the Property, Lender ehall be entided to have a receiver appointed by a ooart to enter~upon, take posseeaion of and menage the Property and to oollect the rents of the Property. including thoee paat due. All rents ~ oollected by the receiver ahaU be applied firat to payment of the oosts of management of the Property and collection of rente, including, but nol limited to, receiver's feea, premiuma on receiver'e bonds and reaeonable attorney's fees, and then to the sums eecured by this Mortgage. The ~ reoeiver shall be liable to aooount only for thoee rents actually received. ' ~ ~ R 1 y S~~K ~ l PqGE ~07 ~