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Home My WebLink About1655 ~ t ~ ~ ~ ; t ; • .j * ~ ~ # : ; ~ . ~ . v ` t # 8. Itupectioa. Lender msy make or cawe to be made reawaable eatrier upoa and inspectione of the property. provided that Leader shall ~ give Borrower notioe prior fo aqy auch uupecbion specifying reawaable cawe thasefor related to Lender's interest in the Prope~ty. 9. Condemnadon.'lUe p~oeeeda of aay a~rard or ctaim for dama~es, direct or consequential. in connectioa wiLh any oond~nnation or i othe~ taldn~ of the pmpe:ty. or part thereot. or for oonveyance in lieu of ooademnatioa, are hereby assigned and ahall be paid Lo l.ender. In the event oi a total taking of the Propsdy, the proceeds ~hall `~s applied to the sums eecured by this Mortgags, with the esoea, if anY. paid to Horrower. In the event of a partial taking of the Properfy, nnless Bo:ro~rer aad Lende: otherwise agree in writin~, Wers shall be applied to the suma ~ecured by this Mortga~e auch p~oportion of We prooeed~ as u equal to that proportion which the amoant oi the eum~ ~ eacnred by this Mortgage immediately ptior to the date of tal~ing bearr to the fai: market value of the Propedy immediaWy prior to the date of ; tairing, wiW the balaaoe of the prooeeds paid Lo Borrower. f If the Properf,y i~ abandoned by Boz~ow~x. ~ if. aR,er notioe by Lendar to Borrow~ that the oondesnaor offers to make an a~vard or settle a claun for damages, 8orrower fails b respo~d to Lei?der within 30 days aRer the date euch notioe is mailed. Leader ie suthorir~ed to ooUect end epply the pmoeeds, et Leade~'~ option. eithet to restoration or repair of the property or b the sums secnred by this M~tgage. ~ Ualess Lend~ and Borrower other~vi~e agree in writing. aay such application of prooeed~ to priacipal ehall not e=Lend or pwtpone the dne j dete oi the monthly installmenta referred to ia paragraphs 1 aad 2 hereof or change the amouat of auch installments. 10. Borrower Not Iteleased. Estensioa of the time for paymant or modification of amortisation of the auma eecured by thia Mortgage granted by Lender to any suaxasor in interest of Borrower shall aot operate to release. in any manner. the liability of the originai Borrow+er i and Borrower'a snecessors in interes~ Lender ahall not be required Lo oommence prooeedings againat euch succeeeor or refuee to eriead time for paytnent or otherwiae modify amortization of the sume aecured by this Mortgage by reason of any demand made by the original Botrowe= and Borrowe: a aucc~sora in interest. I1. Forbearanoe by Lender Not a Waiver. Any forbeasence by I.endez in e~cercieing any iight or remedy hereunder. or otherwise aPforded by applicable law. shall not be a waiver of or preclude the ezercise of any such right or remedy.'fhe procuremeat of inaurance or the payment of tauee or other liens or chargea by Lender shall not be a wraivez of I.ender'a tight to aooelerate the maturity of the indebtednees eecured by this Mortgage. 12 Remedies Gtimulative. All remedies provided in thie Mo:tgage are dutind and cumulative to any other =ight or remedy nnder thi~ 111...A.Y.e.~.! w~ sl~w..1~.1 lnw w~ ~....:h. ewd w.a.. lr a~~.~w:~rl wn..w..~wswllv iw~L~.rwilar~~~v e~e~.ns~~wlv y_... . . . - - _ ~ 13. 3ucaeasors and Aesigns Bonnd; Joint and 3everal Liability; Capdona The rnvenanta ana sgreemente herein oontained shall bind, and the rights hereunder shall inure to, the respective succeesors and aseigna of Lender aad Borrower, eubject to the pmviaions of paragreph 17 hee+eof. All coveaants and agreements of Borrower ahall be joint and eeveral.'ILe captions and headinge of the paragrapha of this Mortgage are for oovenieace only and are not to be used to iaterpret or define the proviaions hereof. 14. Notice. E:cept for any notice required under applicable law to be given in anoth~ manner, (a) any notice to Borrower provided for in this Mortgage shaU be given by mailing such notice by certified mail addresaed te Borrower at the Property Address or at euch other address as Borrowe~r may designate by notice to Lender ae pmvided hereia, and (b) any notice to Lender ahall be given by certified mail, nturn reoeipt requested, to Lend~'s addreas stated herein or to auch other addnea as Lender may designate by notice to Borrower as provided haein. Any notice provided for u? this Mortgage shall be deemed b have been given b Borrower or I.ender whea given in the manner designated herein. 15. Uniform ~ortgage; Governing Law; Severability. Thislorm of mortgage combine8 uniform wvenanta for national use and non- unifoTm covenants with limited variatione by juriediction to oonstitute a uniform security instrument oovering real property.l~is Mortgage ahall be govemed by the law of the juriediction in which the Property ia located. In the event that any proviaion or clsuBe of this Mortgage or the Note conflicte with applicable law, such rnnflict ahall not affect other proviaiona of this Mortgage or the Note which can be given effect without the oonflicting proviaion, and to thia end the pmviaione~of the Mortgage and the Note are declared to be eeverable. 16. Borrower's Copy. Borrower ehall be furnished a rnaformed oopy of the Note and of this Mortgage at the time of e:ecution or after recordation hereof. ~ ~ 17. 'I~aaefer ot the Property; Aseumption. If all or any part of the Property or an interest therein ia sold or transferred by Borrower w~thout Lender'a prior written conaent, e~ccluding (a) the creation of a lien or encumbrance subordinate to thie Mortgage, (b) the creation of a ? purchaee money aecurity intereat for houeehold appliances. (c) a tranafer by deviae, deecent or by operation of law npon the death of a joint tenant or (d) the grant of any leaeehold interest of three yeara or l~a not oontaining an option to purchaee, Lender may. at Lender'a option, declare all the auma eecurea by thia Mortgage to be immediately due and payable. Lender ahall have waived such option to aocelerate if. prior I! to the sale ar tranafer, Lender and the pereoa to whom the Property ia to be eold or transferred reach agreement in writing that the credit of auch ~ peraon ia satiefactory to Lender and that the intereat payable on the aums eecured by thia Mortgage ahall be at auch rate as Lender ahall i request. If Lender has waived the option to accelerate provided in thia paragraph 17. and if Borrower a aucceaeor it~ intereet has e:ecuted a ; ~ written assumption agreement accepted in writing by Lender, Lender ehall release Borrower from all obligations under thia Martgage and the 1 iV ote. If Lender e=erriaee such option to acoelerate, Lender ahall mail Borrowet notioe of aooeleration in acoordance with paragraph 14 hereoL Such notice ahall provide a period of not lesa than 30 daya from the date the notice is mailed within which Borrower may pay the auma declared . due. If Borrower feila to pay euch sums prior to the expiration of auch period, Lender may, without further notice or demand on Iiorrower, ~ mvoke any remediea permitted by paragtaoh 18 hereof t ~ 18. Aoceleration; Remedies. Ezcept as provided in paragraph 17 hereof, upon Borrower'e breach of any oovenant or ~ ~ agreement of Bornower in thie Mortgage, including t6e oovenante to pay when due any snms secured by this 11~ortgage, Lender ~ prior to aooeleration ehall mail notice to Borrower as pmvided in paragraph 14 hereof epecifying: (1) the breach; (2) the action - required to cure such breach; (3) a date, aot lese t6an 30 daye from the date the noticz ia mailed to Borrower, by w6ich such breach must be cured; and (4) that failure to cure sucb breach on or before the date apecified in the notice may reault in acceleratioa of the same secured by t6is Mortgage, foreclosure by judicial prw~eediag and eale of the Property. The notice shall further inform Borrower of the right to r~inatate aRer acceleration and the right to aseert in t6e foreclosure proceeding the non-e:iatence ot a default or any other defenae of Borrower to acceleratioa and toreclosure. If the breach ie not cured on or before the date speciBed in the notice, Lender at I.ender's option may declare aA of the suma secured by thie Mortgage to be ~ i mmediately due and payable without further demst~d and may foreclose thia Mortgage by judicial proceeding. Lender shal l be ~ entitled to oollect ia such proceeding all e:penees of forecloeure, including, but not limited to, reaeonable attorney's fees, and ; ~ coate of documentary evidence. abetracta and title reporte. ~ 19. Borrower's Right to Reinatate. Notwithatanding Lender'e acceleration of the eums secured by thie Mortgage, Borrower ahall have the right to have any prooeedings begun by Lender to enforce this btortgage diacontinued at any time ptior to entry of a judgment enforcing ~ thia Mortgage if: (a) Borrower paya L.ender all aums which would be then due under this Mortgage, the Note and notes aecuring ~ture i Advanoes, if any, had no acceleration occurred; (b) Borrower curea all breachea of any other rnvenante or agreemente of Borrower contained in ~ this Mortgage; (c) Borrower pays alt reasonable e:peneea inrurred by Lender in enforcing the covenanta and agreemente of Borrower ~ oontained in thia Mortgage and in enforcing Lender a remedies ae provided in paragraph 18 hereof, including, but not 1'united to, reaaonable ~ ~ attomey's fees; and (d) Bvrrower takea such action ae Lender may reseonably require to essure thet the lien of thia Mortgage, L.ender'a interest ~ in the Property and Borrower e obligation to pay the suma secured by this Mortgage ahall continue unimpaired. Upon such payment and cnre ~ by Borrower, thie Mortgage and the obligatione eecared hereby ahall remain in full force and effeet a8 if no acceleration had occurred. ~ Z0. Aasignment ot Rents; Appointment of Reoeiver. Ae additional security hereunder, Borrower hereby aseigne to Lender the rente ~ of the Property, pmvided that Borrower shall, prior to aoceleration under paragraph 18 hereof or abandonment of the Pro ~ W oollect and retain euch renta as they become due and P~tY,havetheright ~ payable. ~ Upon acceleration under paragraph 18 hereof or abandonment of the Property, Lender ahail be entided to have a receiver appointed by e ~ oourt to enter.npon, take poaeeseion of and manage the Property and to collect the renta of the Property, including thoee past due. All rente ~ collected by the receiver ahall be applied firat to payment of the ooeta of management of the Property and coliection of rente, including. but not ~ ~ limited to, receiver a fees, premiume on receiver'a bonde and reasonable attorney e feee, and then to the auma secured by this Mortgage. The receiver ehall be liable to acoount only for thoae rents actuaUy received. . i ~ I ~ ~ I ~ R'~k~311 ~AL:-1654