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Home My WebLink About0857 • . • . ~l. ~ I A_ In~Qection. l s!nder mwy makw ~?r ~auiw fn M mwdw er~innablw wntriwa u~r?n wntl ir~~~rrtiisnr nf 4F~n rr~~p~y, ~~,.ri,1„d thRt Lender shail ~ give Borrower notioe prior to any such inspection specifying reasonable cause there[or related W Lender'e interat in the Property. 9. Coademnatlon. The proceeds of any award or claim !or damages, direct or conseyuentiel, in connection with any oondemnation or ~ other taking of the property, or part thereof, or for conveyanoe in lieu of oondemnation, are hereby eaeigned and shall be paid to Lender. In the event o[ a f~otal taking oi the Property, the proceeds ~haU be applied to the auma eecured by thie Mortgage, with the excees, if any. ~ paid to Bon~ower. In the event of a pertial taking of the Property. unlees Borrower and Lender otherwiee agree in writing. there shaU be ~ applied ta the eums secured by this Mortgage anch pmportion of the proceede as is equal to that pmportion which the amount of the sums i secured by thie Mortgage immediately prior to the date of taking bears b the fair warket value of the Property immediately prior to the date of taking, with the balance of the proceeds paid to Borrower. If the Property ia abandoned by Borrower, or if, aRer notice by Leader to Borrower thet the oondemnor offere to make an award or settle a claim for damages, Borrower faiis to respond to Lender within 30 daye atter the dete euch notice ie mailed, Lender ie authorized Lo collect and apply the proceeds. at I.endei a option, either to restoration os repair of tha property or to the eums secured by this Mortgage. Unlees I.ender and Borrower otherwiee agree in writing, any such application of proceeds to principal ahaU not ~tend or postpone the due date of the monthly installmente referred to in paragraphs 1 and 2 hereof or change the amount of such inataliments. ~ 10. Borrower Not Releaeed. Exteneion of the time for paymrnt or modification of amortization of the euma secured by thie Mortgege granted by I.ender to any aucceaeor in intereet of Borrower ehal) not operate to releaee, in any manner. the liability of the original Borrower ; and Borrower e euccessore in interest. l.ender ehall not be required to oommence proceedinge againat auch auccesaor or refuee to eztend time for paymenl or otherwise modify nmortization otthe aums aecvrnci by this Mortgage by reaaon of any demand made by the original Borrower and I3orrower's successors in interest. ~ ~ t•.~ ~j ; 11. Forbearanoe by Leader Not a Waiver. Any forbearance by I.ender in ~ercising any right or remedy hereunder, or otherwise ; aPforded by applicable law, ahall not be a waiver of or preclude the exentise of any such right or remedy_ The procurement of ineurance or the payment of taaee or other liene or chargee by Lender ahaU ~ot be a waiver of Lender e right to accelerate the maturity of the indebtedaesa aecured by this Mortgage. 12 Remedles Curaulative. Ail mmediea provided in thia Mortgage are distinct and cumulative to any other right or remedy under this Mortgage or afforded by law or equity, and may be exercieed ooncurrently, independendy or sueceesively. 13. Succeseore and Aseigne Bound; Joint and Severat Liabil[ty; Captione. The covenante and agreementa herein oontained ahall bind, and the righte hereunder ahall inure to, the reapective aucceaeors and aeaigns of Lender and Borrower, aubject to the provisiona of paragraph 17 hereof. All covenante and agreementa of Borrower ehall be joint and eeveral. The captions and headinge of the paragraphs of this Mortgage are for covenience only and are not to be ueed to interpret or define the proviaiona hereof. 14. Notice. F:xcept for nny notice required under applicable law to be given in another manner, (a) any notice to E3orrower provided for in thia Mortgage shall be given by mailing auch notice by certi6ed mail addreased to Borrower at the Property Addresa or at auch other addreee ae f3orrower may designate by notice to Lender aa provided hernin, and Ib? any notice to Lender ahall be given by certified mail, retum receipt reqursted, to Lender'a addreas atated herein or to such other addresa as I.ender may designate b3• notice to Borrower ea ptovided herein. Any notice pro~~ded for in this Murtgage shal! be deemed to have been given to $orrower or Ixnder when given in the manner deaignated herein. ~ 15. Uniform MortAage; Governing I.aw; 3everability. Thia form of mortgaRe combines uniform covenanta for national uaeand non- _ uniform covenante with limited variationa by jurisdiction to oonatitute a uniform security instrument cuvering real property. This Mortgage ~ shall be governed by the law of the jurisdiction in which the Property is located. In lhe event thal any provieion or clause of this Mortgage or ~ the Note conflicts with applicable law, such conflict shall not affect other provisions of this Mortgxge or the Note which can be given effect without the rnnflicting provisioo, and to this end the pro~~aions of the Mortgage and the Note ace declared to be aeverable. 16. Borrower'a Copy. Borrower shall be furniahed a rnnformed cupy uf the Note and of thia Mortgage at the time of execution or after recordation hereof. 17. Transfer of the Property; Assumption. If all or any part of the Property or an interest therein is aold or traneferred by I3arrower without l.ender'a prior written consent, excluding (a) the creation of a lien or encumbrance suhordinate to this Aiortgage. (b1 the crration of a purchaae money security interest for household appliances, (c) a transfer by devise, d~acent or by operation of law upon the death of a joint tent,nt or (d) the grant of any leasehold intereat of three years or lese not oontaining an uption to purehaee, Lender may, at Lender s option, declare all the aums secured by thie Mortgage to be immediately due and payable. Lender ahall have waived auch option to accelerate if, prior tn the sale or tranafer, Lender and the person to whom the Property ia to be sold or transferred reach aKreement in writing that the credit of snch person is satiafactory to I.ender and that the intereHt payable on the suma secvred by this MortgaKe shall be at such rate as I.ender shall rrryuext. If I.ender has warved the option to accelerate provided in this paragraph 17, and if E3orrov?er'e successor in intereat has executed a ; writtrn assumption agreement accepted in w~ritinR by l.ender, l.ender shall release f~rrower from aU obligati~,ns under this Mortgaqe and the I \Tote. ~ If Lender exercises auch option to accelerate, l.ender ahnll mail Rorrower notice of acceleration in accordance w~th paragraph l4 hereof. ~ Such notice ahall provide a period of not lesa than :i0 days from the date the notice is mailed within which Bormwet may pa~• the sums declared due. It Borrower fails to pay auch suma prior to the expiratian of such period, I.ender may, without further natice or demnnd on tiorrower, ~ ~nvoke any remediea permitted by paraRra~h l8 hereof. , ~ ~ I8. Acceleration; Remediea. F.:cept as provided in paregraph 17 hereof, upon Bonower's breach of any oovenent or ~ agreement of Borrower in this Mortgage. including the covenanta to pay when due any suma eecured by this Mortgage. Lender arior to acceleration ehal! mail notice to E3orrower ea provided in paragraph 14 hereof apecitying: (1) the breach; (2) the action ~ required to cure such breach; (3) a date. not leea than 30 deya from the date the notice ie mailed to Borrower. by which such ~ breach must be cvred; and (41 thet failure to cure auch breach on or before the date epecifed in the notice may result in acceleration of the auma eecured by this Mortgage, foreclosure by judicial proceeding and eale of the Property. The notice ahall further inform Borrower of the right to reinetate after acceleration and the right to eeeert in the foreclosure proceeding the ~ non-e:istence of a default or any other detenae of Borrower to acceleration and forecloeure. If the breech ie not cured on or betore the date apecifed in the notice, I.ender at Lender's option may declare all otthe sums secured by this Mortgage to be ~ immediately due and payable without turther demand and may foreclose thig Mortgage by judicial proc~edirtg. Lender shaU be ~ ~~ntitled to collect in auch proceeding all expensea of toreclos+ure. includinq. but not litnited to, reaaonable attorney's feeA. and costs of documentary evidence. abstract~s and title reporie. ~ 19. Borrower's Right to Reinstate. NotwithatandinK 1~ender's acceleration of the euma secured by this MortgaKe, Borrower shal) have the right to have any proceedinge beRun by I.ender to enfarce this Mort~nRe discontinued at any time prior to enlry of a judRment enforcing _ thia Mortgaqe if: la) i3~rcower paya I.ender all suma which would be then due under this Mortgage, the Note and nutes esecurinR Future y Advances, if any, had no acceleration cxrurred: (b) E3urr~,wer cures a11 breachrs of any other covenants or agreemente of E3orrower contained in this Mortgage; (c) Borrower pays all reasonable expenses incurred by I.ender in enforcinq the covenants and agreements of f3orrower ~ conteined in this Mortqage ~ud in enforcing I.ender'a remediee as prvvided in paragraph 18 hereof, including, but not limited to, reasonable - 3 atLorney'e feea; and (d) Borrower takes such action as I.ender may reusonably require to assure that the lien of thia Mortgage, I.ender'a interest ~ in the Property and Borrower'e obligation to pay the aume secured by this Mort~cage aha{I continue unimpaired. Upon auch payment and cure by Borrower, this Mortgage and the obiigationa secured hereby shall remain in full force and effect ae if no acceleration had occurred. ~ 20. Aeaignment of ftente; Appointment of Receiver. As additional security hereunder, F3orruwer hereby asaigna to Lenderthe rents a of the Property, provided that t3orrower ahall, priorlo acceleration under paragraph 18 hereof orabandonment of the Property, have the right ~ to collect and retain such renta ae they become due and payable. r Upon acceleration under paragraph IS hereof or abandonment of the Property, Lender ehall be entitled to ha~ e a receiver appointed by a ~ ~ court Lo enter.t~pon, take posaeseion of and manage the Nroperty and to collect the rents of the Property, including thoae past due. All rente ~ collected by the rnceiver ahall be applied first to payment of the ooats of management of fhe Property and collection of rente, including, but not ~ limited to, receiver'e feea, premiume on receiver's.bonds and reasonable attomey'n feee, and then to the suma secured by this MortgaRe. The ~ receiver shall be liable to account only for those rente actually received. ~ ~ ~ :~~..311 ~A~: 856 ~ ~ ~ ~ ~