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HomeMy WebLinkAbout2110 . ~ ~ fl. Iaspeotios. Iwnder may wake or caws b be made rrasonabls entries upow and iaepections ottbs peopeei<y, provided thatLonder shall give HOrrowet notice prior to ~ each inspection epedl~ing rwsooabls canes therefor re4ted to Ilrldera iaterod ill the Property. 8. COOdelalllatiOO. The proceeds of aDy award a< Maim 1fOr damajes, d~ireat or oonsequwtial, in connection with any ooadeeanation a< other taking ad the piopeebr, or part the[ed, or foe conveyalloa in lien of aoudemnatioa, Ire hereby aedgned and shall b paid to I.enda: In the event of a total taking of the Property, t1N prooroda shall be applied b the same accord by this Mortgage, with the excess, if agys paid b Borrrrlrelt In tM event d a partial taking of the Proporbr, asters Hoerower and Loader otlurwiN agree in writing, there ehaU be bby tb~3s ~ apc ~ etaon. of the ps~owds u ur egaal to drat pcopoetloa which the amount of the same taking, with the balance of the proceeds paid to Bore bears tutheLirmarketvalosoftheProperfyimmsdiatobrP~riostothodaaot Iithe Proper ie abaadond by Borrower, ac ~ after nMios by Loader b Borrower that the oondemnoe offenb mob an award oreeWe a claim for damages, Borrower fait b respond to Leader within 90 days alter the date each notice i.mailed. Leader is authorised to Dolled and appbr the prooeds, at Lenders option. dthee b redoration or repair of We property oe b the same asaued by this Matlgage. Unless Lenderaad Horroweeotheewlosagrseinwriting.anyax~ sp~plicsti~ofprooeedotapeinctpalehaUrataatendarpostpor~ethsdw date of the monthbr inslalloaee?le referred to in paragraphs 1 and 4 heeeoi oa change the amount of each iastallmente. 10. Borrower Not Released. Bsteadon of the lima for pgyaemt oe modification of amortisation of the same eecared by this Mortgage fronted by Lender to aglr suooesso~r in entered of Borrower ehaU not operate b release, in any manse:, the liabr7ity of the oeigind Boer~ower ~ amd Borrowers aaooeescee is entered. Lender shall not be rogdrd b comusenos prooedings against ouch suooessor or refuse b extend time for payment or otherwise modify amortiiation of the snnos secured by thin Mortgage lrir reason of anq demand made by the original Borrower and Borrower's suooeesors in interest. 11. Forbearanos by bender Not a Waiver. Arty forbearance by Lander in sse:radng any right or hereunder, a ot6eewiss afforded by applicaWs law, ehaU not be a waiver of or predds tbs aserclss of any each right ar remedy. The peocareanant of iasuranos ar the payment of lases a other liens oe charges by Leader shall not bs a waiver of Leaders right to aooelerats the watarity of the indebtedness secured by this Mortgage: 12 Remedies Camdatlve. All remedies provided in this Mortgage ors dLtind and cnmalative to`an{ofl~right or remedy under this Mortgage ar affaded by law or equity, and may be ezercieal oonenre+entbr. indspaldently o= saooessivlly. 13. Sgooewors and Assigns Homrd; Joint and Several I3abiligr. CapNoas. The covenants and agreemobata herds oentained shalt bind, and the rights hereunder shall inane to, the respective enooeeeon and assigns o[ Lender and Borrower, anbjed b the provisions of paragraph 17 he~eol: AU covenants and agreements of Borrower shall be jodat and ssversL The captions and headInge of the paragraphs of; Wie Mortgage are far oovenienoe only and are not to be need b interpret ar define the provisions bereoL 1~. Notloe. Esapt for any notice regturd under apble law b be given in another manner, (s) any notice b Borrower provided for in thin Mortgage shall begivea by mailing such notice by certified mail addressed to Bore~ower at the Property Address osatsach otheraddress as liarower may designate by notice b Lender a.provided herein, and (b) any notice to Ler?der shall be given by oerti5ed mail, return r+eoaipt requested, b Lenders address stated herds or to such other address as Lender may designate by notice b Borrower a• providd betdn. Aqy notice provided for in this Mortgage shall be deemed b have been given b Borrower.or Lender whey given in the manner designated herein. 15. Uniform Mortgage; Goverdng Law; 8everabUity. Thin form of mortgagecombines uniform oovenante fox national nee and non- uniform auveaants with limited vasiations by jnrisdidion b oonstitate a uniform sec~uity instrument covering real property. lLis Mortgage shall be governed by the law of the jnrisdidion in which the Property is located. In the event that any proviurion or chase of this Mortgage a< the Note conflicts with applicable law, each mnlliet abaft not affect other provisions of this Mortgage or the Note which can be given elted wiWoat the oanflictiag provision, and b this end the provisions of the Mortgage and the Note are declared b be severable. 16. Borrower's Copy. Borrower shall be fiunished a ooaformed Dopy of the Note and of this Mortgage at the time of a:ecation or after recordation hereof: 17. Transfer of the Property; Aswmption: Tf all or any part of the Property or an interest thardn is Bold or transferred by Borrower without Lenders prior written ooaaent, ezcluding (s) the creation of a lien oe• encnmlrtsnoe enbordinate b this Mortgage, (b) the creation of a pnrrbase money security interest for ho~usel?oW appliance, (c) a transfer by devises, descent or by operation of law upon the death of a joint tenant or (d) the grant of any leeuelwld interest of three years w lees not containing an option b purchase, Lender may, at Lender's option, declare all the sums aecureu by this Mortgage to be immediately doe and payable. Lender shall have waived each option baocele:ste if, prior to the sale or transfer, Leader srd theperson to whom theProperty is b be sold or transferred reach agnementin writing thattlie creditof each person is sstisfadory b Leader and that the interest payable on the sums secured by this Mortgage shall be at such rate as Leader shall request. If Leader has waived the option b acceerate provided in this paragraph 17. and if Borrowers anoceeear in interest has ezecuted a written asanmption agreement accepted in writing by Leader. LendershaU release Borrower from all obligations under this Mortgage sad the Notes If Leader ezercises ouch option to accelerate, Lender shall mail Borrower notice of aooeleration in accordance with paragraph 14 bereoL Such notice shall provide a period of not lees Wan 30 days from the date the notice is matted within which Borrower may pay the sums demand due. If Borrower faits to pay such soma prior to the expiration of each Period, bender may, without further notice or demand on Borrowcs. invoke any remedies permitted by paragraph is hereoL 18. Aooeteration; Remedies. Ezcept as provided in paragraph 17 hereof, apoa Borrower`s breach of aglr orrenaat or agreement of Borrower in this Mortgage, including the ooveaants to pay wbendae sqy anms secured by thin Mortgage, bender prior to acceleration shall mail notice b Borrower as provided in parsgrap614 hereof spedfying: (1) the breamai (Z) the action required to cure each breach; (3) a date, not less than 30 days From the date the notice is matted to Borrower, by which such bresclt mud be cured; and (4) that failure to cure each breach on or before the date apedfsed in the notice may resale in acceleration of the sums secured by this Mortgage. foreclosure by3ndicial proceeding and sale of the Property.Tbe notice shell further inform Borrower of the right to reinstate aAer acceleration and the right to assert is the toreclowre proceeding the non-esidenoe of a defanit or any other defense of Borrower to acceleration sad foredosare. It the breach; is sat armed ~ of before the date epedAed io the notice, Ladder at Lenders option may declare all of the sums secured by this Mortgage to be immediately due and payable without further demand sad may foreclose thin Mortgage h7 Judicial prooe~eding. header shall be entitled to Dolled in each proceeding all ezpenses of foreclosure, including, but not limited to, reasonable attorney's fees, and costs of doalmentary evidence, abstracts and title reports. 19. tiorr+ower's Right to Reinstate. Notwithstanding Lenders aooelaration of Wesame eecnndtrythisMortgage, Bosrowershall have the right to have any prooeedinga begun by Leads b enforce this Mortgage discontinued at any time prior b entry of a judgment enforcing this Mortgage i$ (a) Borrower pays Lender ell annu wnich would be then due ender this Mortgage, the Note and rwtss securing Fhtare Advances, if any, had no aooderation oocun+ed; (b) Borrower cares all beaches of anyothereoveaants or agt+eemenL of Boreoweroantained in this Mortgage: (c) Borrower pays all reasonable ezpensee incarnd by Lender in enforcing the covenants end agreements of Borrower contained in this Mortgage a~ in er?for+cing Lenders remedies as provided in paragraph 18 hareo~ including. but not limited b, reasooab3s attorney's fees: and (d) Borrower takes such action as Leader may reasonably require to assure that the lien a[this Mortgage, Leader's interest in the Property and Borrowers obligation to pay the rums secured by this Mortgage shall continue unimpaired. Upon such pe4yment and care by Borrower. this Mortgage and the obligations secured hereby shall renoain in fall tome and aged as if rw aooeleration had oamrrd. Z0. Assignseent of Rents; Appointment of Receiver. Aa additional security hereunder. Borrower herby assigns b Lander the rents of the Properly. provided that Borrower shall. Prior to aooeleration ender paragraph 18ha+eof or abandonment of the Property, have the right b Dotted sad retain sash rents as they become doe and payable. Upon acce3eration under paragraph 18 benotor abandonment of the Property, Lender shall be entitled b leave a receiver appointed by a court b eaternpon, take poaeeaion of and manage the Properly and b Dolled the rents of the Property, including those past due. AU rents oollec.Ked by the receiver shall be applied first to payment of the ousts of management of the Prppe~ty and ooUedion ofraata, inducting, bat not limited to, nocturne free, premiums oa nocturne bends and reasonable attorney's fees. sad then to the sums eecared by thin Mortgage. The recdver shall be liable to account only for those unto actually r~eodved. B00 I ~~e ~A~~04