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Home My WebLink About0906 > . ~ '.ir 8. In~pecttoA. Lender me~y make or cause to be made reiuonable entrie~ upoa and 'uupections of the pmperty, pmvided that I.eader shall give Borrower notice prior to any sucb uupection apecifying rcasonable cause therefor related to Lender'~ iutenet in the Ptoperty. 9. Condemn~tion.'i~e pmoeeds of aay award or claim for damages. direct or consequential, in conAectioa with any oondemnation or other taking of the property. or part thereof, or [or conveyance in lieu of oondemnatioa. are hereby asaigned and ahal! be paid to I.ender. In the event oi a btal taking of the Propedy. the pmceede shall be applied to the sums aecured by thia Mortgage. with the esoees. if any. paid to Borrower. In the event of a partial taking of the Property, unleas Borrower and L,ender otherwiee agree ia writiag~ there shall be applied to the sums securcd by this Mortgage such proportion of the proceeds ae is equal to that pmportion which the amouat of the sums ~ secured by this Mortgage immediately psior b We date of talong beare b We fair market value of the Properiy immediately prior to the date of ~ eaking. with the balaace of the proceeds paid to Borrower. ; If the Property ia abeadoned by Borrowes, or if. atter notioe by Lender to Borrower that ehe oondemnor offere to make an awaid or settle a ; claim for damages, Borrower fails to reepond to I.ender within 30 days atter the date such notice ia mailed, Leader is authorized to ooAect and apply the prooeeds. at Lender's option. eithe: to restoration or npair of the pmperty or to the sums eecured by this Mortgage. Unlesa Lender end Borrower otheiwiae agree in writing, any such applicatioA of pmoeeds to priacipal ehall not e~ctend or poetpone the due. date of the month~y inetallment+s referred to in paragraphs 1 and 2 h~+eof or change the amo~:n! of such inatallments. 10. Borrower Not Releesed. Extenaion of the time for paymant or anodificatioa of amortization of the eume eecured by this Mortgege ~ranted by Lender to any aucceasor in intereat oi Borrower ahall not operate to release. in any manner. the liability of the origina) Botrower and Borrower's sucoeesora in iatenat I.ender shall aot be required to oommeace pmceedinga againat auch aucceeeor or refuse Eo extend time for payment or otherwise modify aznortization of the sume aecured by thia Mortgage by reaeon of any demand made by the original Botrower and Borrower a succeBaore in intereet. 11. Rorbearance by Lender Not a Waiver. Any torbearance by Leader in e:ercising any right or remedy hereunder. or otherwise afforded by appUcable law. shall not be a waiver of or prEClude the ezercise of any such right or remedy. Tl~e pmrurement of inaurance or the payment of ta~ces or other liens or chargee by Lender ahall not be a waiver of Lender's right to socelerate the maturity of the indebtedneea aec~red by this Mortgage. 12 Remedies Gtitmulative. All remedies pmvided in thie Mortgage are distinct and cumulative to any other right or remedy nnder thia Mortgage or afforded by law or equity, and may be aetriee~i ooncu:rently, independently os euccesaivdy. 13. 3ucceesors and Aesigns Bound; Joint and 3everal Liability; Ceptione.'l~e covenants and agreementa herein oontained shall bind. and the righta hereunder shall inure to, the teapective eucceeaors and assigus of Lender and Borrower, subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and eeveral.l!?e captione and headings of the paragraphs of this Mortgage are for covenience only and are not to be ueed to intetpret or define the proviaiona hereof. 14. Notice. E:cept for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in thia Mortgage ahall be given by mailing anch notice by certified meil addreaeed to Borrower at the Property Addreae or at such other address aa Borrower may desigaate by notice to I.ender es pmvided herein, and (b) any notice to Lender ahall be given by certified mail, retnrn receipt requested, to I.ender's addreea atated herein or to such other address as I.ender may deaignate by notice to Borrower aa provided herein. Any nodce provided for in thie Mortgage shaU be deemed to have been given to Borrower or Lender when given in the manner deaignated herein. 15. Uniform Mortgage; Govertung Law; 3everability.'14iia form of mortgage combinea uniform oovenante for national uee and non- uniform covenants with limited variationa by jariediction to conatitute a unifotm security inetrument covering real pmperty. This Mortgage shall be governed by the law of the juriadiction in which the Property ia located. In the event that any proviaion or clauae of this Mortgege or the Note contlicts with applicable law, such conflict shall not afiect other provisione of this Mortgage or the Note which can be given eYfect withont the oonflicting proviaion, and to this end the pmvieiona of the Mortgege and the Note are declared to be severable. 16. Borrower'e Copy. Borrower ahall be furniahed a rnnformed oopy of the Note and of thia Mortgage at the time of e:ecution or after recordation hereof. 17. 'Itiransfer of the Property; Asaumption. If all or any part of the Property or an intereat therein ia eold or traneferred by Borrower without L; ndeYe~ prior written coneent, e:cluding (a) the creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a purehase money +~ecurity intereat for houeehold appliancee, (c) a transfer by deviee, deecent or by operation of law upon the death of a joint tPaant or (d) the grant of any leasehold intereat of three yeara or leas not wntaining an option to purchaee, Lender may, at Lendefe option, declare a!~ the sums eecured by thia Mortgage to be immediately due and payable. Lender ahall have waived such option to accelerate if. prior to the sale or trar.sfer, Lender an~s~•'fotifi~om t}w~ropetty~irb 6e eold or traneferred reach agreement in writing that the credit of such pereon ie satiefactory to Lender ~Ai~,1DM~ ~TttperlMt~ytMe oQtthesAme secured by this Mortgage ahall be at auch rate as Lender ahall request. If Lender haa waived Ii~:aMqf110~aoQ~ler6tepsfvi[I~•i~thl~'ptaragraph 17, and if Borrower'a succeasor in interest has e:ecuted a written asaumption agreement accepted in writing by Lender, [.ender shall release Borrower from all obligationa under thia Mortgage and the I'~ Note. i If Lender ~ercises auch option to accelerate~ Lender ahall mail Borrower notice of acceleration in accordance with paragraph 14 hereot ~ Such notice shall provide a period of not less than 30 days from the date the notice ia mailed within which Borrower may pay the eums 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, ~ mvoke any remedies permitted by paragraoh 18 hereof ; 18. Acceleration; Remediea. E:cept ae provided in peragraph 17 hereof, uFon Borrower'e breach of any oovenant or ~ agreement of Borrower in thie Mortgage. including the oovenante to pay when due any sume aecured by thie Mortgage, Lender k prior to acceleration ehall mail notice to Borrower se provided in paragraph 14 her¢of epecifying: (1) the breach; (2) the action ~ required to cure such breach; (3) a date, not lese than 30 daye trom the date the notice is mailed to Borrower, by whic6 such breac6 muat be cured; and (4) that failure to cure auch breach on or before the date epecified in the notice may result in acoeleretion of the eums sccured by thia Mortgage. foreclosure by jndicial proceeding and eale of t6e Property. The notice shall further inform Borrower of the right to reinatate aRer acceleration and the right to asaert in the forecloaure proceeding the non-eziatence of a defeult or any other defense of Borrower to aceeleration and foreclosure. If the breach iB not cured on or before the date specified in t6e notice, Lender at I.ender's option may declere all of t6e eume secured by thie Mortgage to be ~ immediately due and payable without further demand and may forecloae this Mortgage by judicial prceeeding. Lender ehall be entitled to collect in such proceeding all e:pensea of forecloeure, including, but not limited to, reasonable attorney's feea, and ~ coste of documentary evidence. abstracts and title reporta. 19. Borrower'e Rig6t to Reinetate. Notwithetsnding Lendei s acceleration of the suma eecured by thie Mortgage, Borrower shall have the right to have any proceedinge begun by Lender to enforce this Mortgage discontinued at any time prior to entry of a judgment enforcing thie Mortgage if: (a) Borrower paya L.ender all sums which would be then due under this Mortgage. the Note and notea securing Future Advances, if any, had no acceleration occarred; (b) Borrowercuree all breaches of any other rnvenante or agreemente of Borrower contained in $ this Mortgage; (c) Borrower pays all reasonable e:penaea incurred by L.ender in enforcing the rnvenants and agreementa of Borrower ; wntained in this Mortgage and in enfoming Lender's remedies as pmvided in paragraph 18 hereof, including, but not limited to, reaaonable ° attorney e fcea; and (d) Borrower take8 such action as I.ender may reasonably require to aseure that the lien of thie Mortgage, Lender'a intereat ~ in the Property and Borrower's obligaGon to pay the auma eecured by thie Mortgage shall continue unimpaired. Upon such payment and cure ~ by E3orrower~ this Mortgage and the obligationa eecured hereby shall remein in full force and effect as if no acceleration had occurred. ~ Z0. Aeeignment of Rente; Appointment of Receiver. As additional security hereunder, Borrower hereby asaigna to Lender the rente ~ of the Property, provided that Borrower shall, prior to acceleratiun under pxragraph 18 hereof or abandonment of the Property, have the right ~ to collect and retain auch rente ae they become due and payable. ~ Upon acceleration under paragraph 18 hereof or abandonment of the Property. I.ender ahall be entitled to have a receiver appointed by a : oourt to enter.upon, take poeeeasion of and manage the Property and to oollect the renta of the Property, includinq those past due. All rente ~ oollected by the receiver ahell be applied firet to payment of the ooate of manegement of the Property and collection of renta, including, but not ~ limited to, receiver'e feea, premiume on receiver e bonds and reasonable attorney's feee, and then to the auma eecured by thia Mortgage_ The receiver shall be liable to aooount only for thoee rente actually received. ~ ~ ~!4 t ~ ~~~~~~312 F~,?~E ~04 , s r ~ . , : - _ T- ~ a. . . ~ w ~ . ,.=•.at.. - . , ' " `