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Home My WebLink About0861 ; . e r f 8. II11~Mj0l1. Leader may make or caute b be maderea~uoaWe entries upon aiid'uupections of the pmperty. provided tbat Leader shaU = give Borrower notioe prior to any such inspectioa specityiag reaaonabk cawe theref~ related to Lender's iaterest in the Property. 9. Coademnadon.'l~e proceeds of aay award or claiaa for damages, direct or consequeatial. in connection with aay ouad~nation or othar takinQ o! the pmperty, or part thereof. or for coaveyance iA Geu of oondemnaaon. are hereby ase;~,ed and shaU bs paid ~o Lender. In the event ot a total takinQ of ihe Property. tha praeed~ shall be app4ed to the ~ums secwred by thir Mortgage. wiW the ~oaa. if aay. paid to Borro~ver. In the event of a paztial takin~ of We Property. unle~s Borrowe~ snd Lender otherwise agree ia writing, then ehaU be applied to the suws secured by thi~ Mort~aQe such proportion of the procoeds as ia equal to that pmportion which the amount of the snms secund by this Mortgage immediately prior to the date of tal~ing bears Lo the fair market value of tha Aroperty immedietely prior to the date oi takiag. with the balsnc~ of the proceeda paid to Borrower. If the Propaty ia abandoaed by Borrow~. or if. aRer notioe by LendaT to Bozrower that the oondemnor offen to make an awacd or settle a claim for damages, Borrower faiL to respoad to Lender w+ithin 30 days after the date such notice is mailed, I.ender is authorized to ooAect and apply the pmceed~. a! Lende~'s optioa. eithe~ to natoration or repair of the property or to the sums secured by this Mortgaga , ' Unlees Lender and Bormwer otherwise agree in vvrriting. any such application of pmceed~ to psincipal ahall not e:tend or pwtpone the due date of the moathly installments referred to ia paragraphe 1 and 2 hereof or change the amount of such inatallmente. 10. Borrower Not Released. Extension of the time for paymant or modification of amortitation of the suma eecured by this Mortgage granted by Lender to any succeseor in intereat of Borrower shall not operate to release. in sny manner. the liability of the original Borrower ~ and Borrower'e succesaors in interest Lender ahaU not be required to commence prooeedings aRainet such succ~essor or nfase to e:tend time for payment or otherwise modify amortization of the auma secured by this Mortgage by reason of any demand made by the original Borrower and Borrower a succeseore in interest. i l. Forbearanoe by Lender Not s Wsiver. Aay forbearanoe by I,ender in e:entiaing any right or remedy hereunder, or otherwise M:~~r3~3 hy appi~ca~l~ :a~. at?at: 7i~:L ~e ~3 u~~iv+~ uf ot y~a;lude ttie exe~i:iae uf uny ducti ~i~2ii ur remedy. T'he procuremeAt of Irisurance or the payment of ta:ee or other liens or chargea by Lender.ehaU not be a waiver of Lender'~ iitht bo aocelerate the maturity of the indebtedness eecured by this Mortgage. ~ 12 Remedlea Cumulative. All temedies provided in this Mortgage are dietinct and cnmulative to any other right or remedy under this Mortgage or a[forded by law or eqaity. and may be Pacercise~l ooncurrently, independeady or suocessively. F 13. 3wxeesors aad Asaigno Boand; Joint and 3everal Liebility; Captions. The oovenante and agreemente herein oontained shall . bind. and the rights herennder ahall inure to. the tespective succeeeors and aseigns of Lender and Borrower. aubject to the pmvisiona of ' paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. The captions and headings of the paragrepha of this Mortgage are for rnvenience oniy and are not to be ueed to interpret or define the provisions hereof. 14. Notice. Ezcept for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided forin this Mortgage ehall be given by mailing euch notice by certified mail addresaed to Borrower at the Property Addreee or at euch other addreae as Borrower may deaignate by notice to I.ender ae provided herein, and (b) any notice to Lender shall be given by certified mail, return receipt rei~ueated, to Lender's addrees stat~d herein or to auch other addrese aa Lender may deaignate by notice to Borrower as provided herein. My notice provided for in thia Mortgage shall be de~med to have been given to Borrower or I.ender when given in the manner deeignated herein. 15. Uniform Mortgage; Governiag I.aw; Severability. This form of mortgage oombines uniform oovenants for national aae and non- ; uniform covenants with limited variationa by jurisdiction to oonatitute a uniform sec~uity instrument oovering real property. Thia Mortgage ; shall be governed by the law of the jurisdiction in which the Property is located. In the event that nny provieion or clauee of this Mortgage or = the Note conilicts with applicable law, auch confliM ahall not affect other proviaiona of thia Mortgage or the Note which can be given effect without the rnnflicting provision, and to thia end the proviaiona of the Mortgage and the Note are declared to be severeble. 16. Borrower's Copy. Borrower shall be fnrniehed a rnnformed copy of the Note and of thia Mortgage at the time of euecution or after recordation hereof. 17. 7~anafer of the Property; Aeeumption. If all or any part of the Property or an interest therein ie eold or traneferred by Borrower without Lender a prior written coneent, exciuding (a) the creation of a lien or encumbrance aubordinate to this Mortgage. (b) the creation of a purchaee money eecurity intereat for houeehold appliancea. (c) a tranafer by deviee, descent or by operation of law upon the death of a joint j tenant or (d) the grant of any leseehold intereet of three yeara or leas not containing an option to purchase, I,ender may, at L.ender a option, ; declare all the sums eecured by thia Mortgage to be immediately due and payable. Lender ehall have waived such option to accelerate if, prior I co the sale or tranafer, Lender and the per8on to v?~hom the Property ia to be aold or tranaferred reach agreement in writing that ihe rredit of auch ' peraon ie satiefactory to Lender and that the interest payable on the suma secured by th:s Mortgage shall be at euch rate as Lender ahall I request. If Lender hae waived the option to accelerate provided in thia paragraph 17, and if Borrower'e succeseor in interest hae e:ecuted a written asaumption agreement accepted in writing by l.ender, Lender shall relesee Borrower from all ob?igations under thia Mortgage and the i Note. i If l.ender eaercises auch option to accelerate, I.ender ahall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. ~ Such notice shall provide a period of not less than 30 days fsom the date the notice is ~nailed within which Borrower may pay the aums declared ~ due. If Borrower faila to pay auch sums prior to the expiration of such period, Lender may, without further notice or demand on ~3orrower, ~ ~nvoke any remedies permitted by paragraoh 18 hereof. s i 18. Acceleration; Remediea. E:cept as provided in paragraph 1? hereof, upon Borrower'e breach of any oovenant or i agreemeat of Borrower in t6ia Moctgage, including t6e oovenants to pay when due any eume eecnred by thia Mortgage, Lender ~ prior to acceleration s6a11 mail notice to Borrower ae provided in paragrap614 6ereof egecjfying: (1) the breach; (2) the action required to cure euch breac6; (3) a date. not less than 30 daye from the date the notice ie mailed to Borrower, by whic6 such ~ breach muat be cured; and (4) that failure to cure euch breach on or befor$ t6e date epecitied in the notice may result tn acoeleration of the sume secured by thie Mortgage, forecloeure by judicial proceeding and sale of the Property. T6e notice ahall ~ further inform Borrower of the right to reinstete after acceleration and the right to assert in t6e foreclosure proceeding the ~ non-e:istence ot a default or any other defenae of Borrower to aoceleration and forecloeare. If the breach ie not cured on or ~ before t6e date specified in the notice, Lender at I.ender'e option may declare all of the sume eecured by this Mortgage to be immediately due and payable without furtherdemand and may forecloee thie Mortgage by judicial proceeding. Lender ehall be ~ entitled to collect in such proceeding all expenae8 of foreclosure, including. bat not limited to, reasonable attorney's fees, and c-aeis of documentary evidenor. abetracta and title reporta. ~ 19. Bortower's Right to Reinetate. Notwithstanding Lender s acceleration of the auma secured by thia Mortgage, Borrower ahall have ~ the right to have any proeeedings begun by Lender to enforce thia Mqrtgage discontinued at any time prior to entry of a judgment enforcing ~ thia Mortgage if: (a) Borrower paya Lender all auma which would be then due ander thie Mortgage, the Note and notea aecuring Future : Advsnces, if any, had no acceleration occurred; (b) Borrower curea al! breachea of any other covenanfe or agreementa of Borrower contained in ~ this Mortgage; (c) Borrower paya all reaBOnable e:penees incurred by [.ender in enforcing the oovenante and agreementa of Borrower ? oontained in this Mortgage and in enfotcing Lender'e remedies as provided in paragraph 18 heteof. including, but not limited to, reaaonablg 3 attorney's fees; and (d) Borrower takee such action ae Lender may reasonably require to asaure thet fhe lien of thia Mortgage, Lender'a interest r in the Property and Borrower e obligation to pay the auma secured by thie Mortgage ahall continue unimpaired. Upon euch payment and cure s by Borrower, this Mortgage and the obligations eecured hereby shall remain in full force and effect as if no acceleration had cecurred. ~ 2D. Aesignment o! Reats; Appointment of Receiver. As additional eecurity hereunder, Borrower hereby aseigna to Lender the rente ; of the Property, pmvided that Borrower ahall, prior to acceleration under paragraph 18 hereof or abandonment of the Property, have the right to collect and retain euch rents ae they become due and payable. ~ Upon aooeleration under paragraph 18 hereof or abandonment of the Property, Lender shal) be entided to have a receiver appointed by a ~ aourt to enter.upon, take possesaion of and manege the Property and to rnllect the rente of the Property, including those past due. All rente ~ oollected by the receiver ahall be applied first to payment of the ooete of management of the Property and oollection of rente, including, but not ~ limited to, receiver'e fees, premiums on receiver'e bond8 and reasonable attorney'e teea, and then to the euma eecured by thie Mortgage. The ~ receiver shall be liable to acoount only for thoee rente actually received. ~ ~ a # ; k~ 311 Fa~E ; . ~ 8b~1