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Home My WebLink About0452 . ~ f ; ~ ~ ; 8. Inspectloa. Leader ma~y maka or cause to be mede rea~onable eatrie~ apon snd inspections of the properqr. pmvided thst Lende: shall ~ ~iva Borrower aotice prior to aay such iaepection specifying reaaonable cause therefor related to Lender's interest in the Property. 9. Coademastion.'l~e prooeeds of any award or claim for dame~e~. die+e~t or coasequential. in coanection wiih any oonde~nnaaon or other tebng of the pmperty, or part thereof. or for conveyanoe ia lieu of oondeinnatioa, ars heseby astigned wnd shall bs paid to Leader. ' In the svent of a total taking of the Property, the prooeeds ahall bs applied to We suau secured by this Mottgage, wiW the ~oes~, itany, ' paid to Borrower. In the eveat of a partial talcing of the Prope~ty. unlea Borrower and Leud~ other~vise agree in ~vriting. there ~hall be applied to the sums secured by thi~ Most~age such ~oportion of tha prooeeda as u equal6o that proportioa which the amount of the sum~ { ee~vnd by this 1ltortgage immediataly prior to the date of taking beus to the fair market value of the Propedy immediately prior to the date of ~ taking. wiW the balanoa of the prooeed~ paid b Borrow~er. ~ If the Proper4y is abandoned by Borrower. or if. aRer notice by Leader b Borrower that the oondemnor o~en to make an award or settle a ciaim for damages. Borrower [e?ils b nspond to Leades ~vithia 30 days att~ the date such notioe is mailed, L,ead~ is autborised Lo collect snd ; apply the prooeed~. at Lender's option. ~th~ to restoration or repair of the property or to We sums ~ecured by this Morfgag~ Unlees I.ender and Bo:rower oWezwise agree in writing. eny auch applicatioA of pmcceds b principalshaD not sztend or po~tpone the due date of the monthly inatallments nferred to in paragraphs 1 and 2 hereof or char?~e the amount of sueh inataUmenta. ~ 10. Borrower Not Iteleaeed. Estensioa of the time for paymant or modificadon of amora:aaon of the auma secured by this Mortgege s granted by Lender to eqy suoceaeor in intereat of Borrower shall not operale to nlease. in any manner. the liability of the original Borrower t and Borrower's suoceeeors in iateresL. Lender shall not be required to oommence proceedings against auch suoceseor or refuse to e:tend time ~ [or payment or otheiwiee modify~ amortization of the swne aecured by this Mortgage by reasoa of eny demand mede by the original Borrower ' and Borrowei a aucceeeors in interest. ~ ~ 11. Forbearance by I.ender Not s Risiver. Aby forbearance by Lender in eieniaing aay right or nmedy hereunder. or oth~wise afforded by applicable law. ahaU not be a waiver of or preclude the e:ercise of any euch right or remedy. The pmcnrement of insurauce or the ~ paymeat of tazee or other liene or charges by I,ender ahall not be a waiver of I.ender's right to aocelerate tbe maturity of Lhe indebtedness ~ secured by this Mortgage. ~ 12 Remediea Cumulative. All remedies provided in this Mortgage are distinct and cnmalative to any other right or remedy under thie ~ Mortgege or af~orded by law or equity. and may be ezercise~i ooncurrently, ir,d~paadently or auoceeaively. 13 3ucoeseora and Assigne Bound; Joiat and 3everal Liabitity; Captions. The covenants and agreements herein oontained shall bind, and the righte hereunder shall inure to, the respective eucceseors and ssaigns of Lender end Borrower, subject to tiie provisions of. paragraph 17 hereof. All rnvenante and egreements of Borrower ahall be joint and eeveral. The captions and headings of the paragraphs of thia Mortgage are for covenienoe only and are not to be ueed to interpret or define tbe pmvisione hereof. ~ 14. Notice. E:cept for any notice required undez applicable law to be given in another manner, (a) any notice to Borrow~ provided for in this Mortgage ahell be given by mailing such notice by certified mail addreseed to Borrower at the Property Addreea or at auch other address as E3orrower may deaignate by aotice to Lender as provided herein. and (b) any notice to Lender ahall be given by certified mail. retum receipt requeated, to Lender's addreae atated henin or to auch other address ae Lender may deaignate by notice to Borrowe~r ea provided herein. Any ~ notice provided for in thia Mortgage shall be deemed to have been given to Borrower or Lender when given in t6e manner deaignated hezein. ~ 15. Uniform Mortgage; Goveroing I.aw; Severabil[ty.'l~ie form of mortgage combines uniform oovenanta for national use and non- ` uniform covenante vrith limited variatione by juriadiction to constitute a uniform security instnunent covering real pmperty. This Mortgage ~ sh all be governed by the law of the jurisdiction in wtuch We Property ia located. In the event that any provieion or clause of this Mortgage or the Note conilicts with applicable law, such contlict ahal! not agect other provisions of thie Mortgege or the Note which can be given effect without the eonflicting proviaion, and to thia end the proviaione of the Mortgage and t6e Note are declared to be severable. 16. Borrower'e Copy. Borrower ahall be furniahed a conformed copy of We Note and of this Mortgage at the time of ~ecution or after recordation hereof. 17.11ransfer of the Property; Aesumption. If all or any pad of the Property or an interest therein ie eold or tranaferred by Borrower ; without I.ende~b prior writtea consen~ ezcluding (a) the creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a i purchase money security in~t for household appliancee, (c) a transfer by deviee, deeoent or by operation of law upon the death of a joint j tenant or (d) the grant of any leaeehold intereat of thrce yeare or leae not oontaining an option to purchaee, Lender may. at Lendee's option. ; d eclare all the auma aecurna by thia Mortgage to be immediately due and payable. Lender ehall have waived such option to accelerate if. piior E to the sale o: tranefer, Lender and the person to whom the Property is to be sold or tranaferred reach agreement in writing that the rredit of snch ~ person ia satiafactory to Lender and that the interest payable on the sume aecvred by this Mortgage shall be at auch rate as Lender ahall ~ request. If Lender has waived the option to aocelerate provided in thia paregraph 17, and if Borrower a aucceasor in interest has e:ecuted a ~ written aaeumption agreement accepted in writing by I.ender, Lender ahall release Borrower from all obligationa under this Mortgage and the ~ Note. If L.ender e~ercisee auch option to accelezate, I.ender ahall mail Borrc+wer notice of soceleration in socordance with paragraph 14 hereoL ~ Such notice shall provide a period of not lesa than 30 days from the date the notice is ~r,siled within which Borrower may pay thesuau declared E due_ If Borrower fails to pay auch sums prior to the e:p'vation of auch period, Lender may, without furiher notice or dtmand on ~3orrower, ~nvoke any remedies permitted by paragraoh 18 hereof. ' ~ 18. Aoceleration; Remediee. Ezcept as provided in paragraph 17 hereof. upon Borrower's breac6 of any covenant or + ~ agreement of Borrower in this Mortgage, inctuding the ooveaants to pay when due any sume eecured by t6ie 1KortQage, Lender prior to aoceleration shall mail notice to Borrower as provided in paragrap614 hereof specifytng: (1) ihe breach; (2) t6e action ~ required to Gure auch breach; (3) a date, not lesa than 30 days from the date the notice is mailed to Borrower. by wbich sach ~ breach muat be cured; and (4) that tailure to cure such breach on or before t6e date specified in t6e notice may reault in acceleration of the sums aecured by thie Mortgage, foreclosure by judieiel proceediag and sale of the Property. The notiee shall ~ further inform Borrower of the right to reinetate after aoceleration and the right to aseert in t6e foreciosure proceeding the ~ non-eziatence of a default or any other defense of Borrower to aoceleration and forecloaure. If the breach is not cured on or ~ before t6e date epecified in the notice, Lender at Leader's option may declare all of the sume eecured by this Mortgage to be ~ immediately due and payable without further demand and may forecloae thie Mortga~e by judicial proceeding. Lender shall be entitled to collect in auch proceeding all e:penees of forecloaure, including. but aot limited to, reaeonable attorney's fees. and ~ coate of docuwentary evidence, ebstracts and title reports. = 19. Borrower'e Right to Reinstate. Notwithatanding Lender s acceleration of the euma secured by thie Mortgage, Borrower shall have ~ the right to have any proceedinge begun by Lender to enforoe thia Mortgage diecontinued at any time prior to entry of a judgment enforcing ~ thia Mortgage if: (a) Borrower paye Lender all aume which would be then due nnder this Mortgage. tbe Note and notes eecating Futnre 3 Advancee, if any, had no acceleration occurrad; (b) Borrower cures all breachee of any other rnvenants or agreements of Borrower contained in ~ this Mortgage; (c) Borrower pays all reseonable e:peneea incurred by I.ender in enforcing the oovenanta and agreements of Borrower ~ rnntained in thia Mortgage and in enforcing Lender'e remedie$ aa pmvided in paragraph 18 hereof, iacluding, but not limited to, reaeonabla ~ attorney's feee; and (d) Bormwrr takes auch action as Lender may reaeonably require to asaure that the lien of thie Mortgage, Lender's interest ~ in the Property and Borrower's obligation to pay the suma eecured by thia Mortgage ehall rnntinue unimpaired. Upon such payment and cure ~ by Borrower, thie Mortgage and the obligationa eecvred hereby shall remain in full force and effect as if no aoceleration had occurred. a 20. Assignment ot Rents; Appointment of Receiver. As additional eecurity hereunder, Borrower hereby aesigns to Lender fhe rents : of the Property. provided that Borrower shall, prior to aoceleration under paragraph 18 hereof or abandonment of the Property, have the right _ ~ to coUect and retain auch renta es they become due and payable. ~ Upon aoceleration under paragraph 18 hereof or abandonment of the Property, Lender shall be entitled to have a receiver appointed by a ' court to enter~upon, take posseasion of and manage the Property and to rnllect the rents of the Property, inciuding thoee pest due. All rente = coqected by the receiver shall be applied firet to payment of the ooats of management of the Property and oollxtion of rents, including, but not ~ limited to, receiver's feea, preiniuma on receiver's bonds and reaeonable attorney e fees, aad then b the eams eecvred by thie Mortgage. The ~ receiver shall be liable Lo aooount only fos thoee rents actually received. ~ . ~ ~ ~~p~311 ~A~E 451