Loading...
HomeMy WebLinkAbout2889 _ _ _ _ _ . _ s. _ • ~ % ; ( } ~l v ~ ~ • i . ! , ~ s~ ~ d 8. Iaspeedoa. Lender any make ~ canes to bs mach nasonabM entries upon and Inspections of the peopsetr, provided that Lendee shall giw Horrowee notice price b aqy ouch inspection sped>yring reasonable cease thseefae related to I.endar'a interest is the Propreivjr. 9. Coodessnatba. The proceeds of any award oe claim for damages, direct a ooeurpaential, in connection with aqy oondemaatioa or othee takiaig o[ the propwgr. err part thereof, or foe ooawyanaa in lien of ooademnadoa, are herby assigned and shall be paid to Landes. In the event of a total taking of the Property. the proceeds shall bs applied to the sums secured by thin Mortgage, with the ea[cess, ff aqy. paid to Borrower. In the event of a partial taking of the Property, unless Borrower sad Leewlee otherwise agree in writing, there shall bs applied to the same seemed by this Mortgage such propoctioa a[ the pe~ooseds as is equal b that propoedon which the amount of the emus secneed by this Maetgags immediately prier to the data of taking bears to the fair market value of the Pe~operty immediateb prior b the Bats of taking. with the baLnoa of the proceeds paid to Boeeower. If the Peopergr is abandoaied by Borrower, err i~ alter notice by L~der to Borrower flat the oondemnar offasto mob as award or settle a claim for damages, Borrower fails to respond to Leader within 90 days aRee the date sack no3ics is mailed, Lendse is authorised to ookleci nun: apply the proceeds, at Lender's option. either to restoeaticei err repair of the peaperty oe to the sums secured by this Maetsage. Unless Lender and Borroweeotherwiss agreeinwriting,agysnchapplicationofpeaoesdstopriacipalshallnote:teadaepostpoaethsdns date of We monthly installments refereed to in paragraphs 1 and Z hereof err change the amount of such installmenb. 10. Borrower Not Released. lsxten+don of the time for payment or modiScation of amortisation of the sums secured by this Mortgage granted by Lender to any snooessor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and Boerower's snooessors in interest. Lender shall not be required to ooasanenos proceedings against sac6 anaoessor or refuse to eztend base for payment or otherwise modify amortisation of the soma seaered by thin Mortgage by reason of any demand made by the original Borrower and Borrower's snooesaors in interest. 11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right oe remedy hereunder, err otherwise afforded by applicable law, shall not be a waiver of or prednde the ezercise of any such right or remedy. The proarnment of insaranos or the payment of taxes or other liens or charges by Lender shall not be a waiver of Leader's right to accelerate the maturity o[ the indebtedness secured by this Mectgage. 12 Remedies CamaLdve. All remedies provided in this Mortgage are distinct and cmm~latiw to any other right err remedy ender this Moricage ~ afforded by law or equity. and may be e:erciaeii concurrently, independently or saooeesively. 13 Suooessors and Assigner Boned; Joint and Several Liability; Captions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure t0. the respective suooessors and assigns of Lender and Borrower, subject to the provisions of paragraph 17 hereof All covenants and agreements of Borrower shall be joint and several. The captions and headings of the paragrapher of this Mortgage are for covenience only and are not to be used to interpret ~ de5ne the provisions hereof 14. Nodoe. Sxeept far aqy notice required ender applicable law to be given in another manner, (a) any notice to Borrower provided for in this Mortgage shall be given by mailing such aoticeby certified mail addressed to Borrower at the PropeKy Address or at sash other address as Borrower may designate bq notice to Lender as provided herein, and (b) any notice to Lender shall be given by certified mail, ntnrn receipt requested, to Leader's address stated herein or to such other address as Lander may designate by notice to Borrower as provided herein. Aqy notice provided for in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner deaigaated herein. 15. Uniform Illortgage; Governing Law; Severability. Thisform of mortgage combines uniform covenants far national nee and non• uniform covenants with limited variations by jnrisdidion to oonstitnte a uniform security instrameat covering real property. This Mortgage shall be governed by the law of the juriadidion is which the Property is located. In the event that any provision or clause of this Mortgage or the Note conflicts with applicable law, arch conflict shall not affect other proviaioas of this Mortgage or the Note wlrich can be gives effect without the conflicting provision. and to this end theprovisions of the Mortgage and the Note are declared to be severable. 1& Borrower's Copy. Borrower shall be fnrniahed a conformed copy of the Note and of thin Mortgage at the time of esecation or esker recordation hereof. 17.15ransfer of the Property; Aeseempdon. If all or any part of the Property or an interest therein is sold or transferred by Borrower r without Lender's prior written consent, ezclnding (a) the creation of a lira or encumbrance aabordinate to this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise, descent or by operation of law upon tbe death of a joint tenant or (d) the grant of any leasehold interest of three years or less not containing an option to purchase, Lender may. at Lender's option, r ' declare all the awns assured by this Mortgage to be immediately due and payable. Lender shall k~aw waived each option to accelerate if, prior r to the sale or transfer, Lender and the person to whom the Property is to be sold or transferred reach agreement in writing thatthe credit of each person is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at arch rate as Lender shall ~ y`~request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has ezecnted a ~ written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all obligations under this Mortgage and the Note. If Lender exercises such option to accelerate, Lender shall mail Borrower notice of aooeleration in accordance with paragraph 14 hereof Such notice shall provide a period of not less than 30 Jaya from the date the notice is mailed within which Borrower may pay the sums declared i due. If Borrower fails to pay such sums prior to the ezpiration of such period, Lender may, without Earths notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof 18. Acceleration; Remedies. 13zeept as provided in paragraph 17 hereof, upon Borrower's breach of any ooveaant or agreement of Borrower in this Iltortgage, including the covenants to pay when doe any arms secured by this>f[ortgage, Leader prior to acceleration shall mail nodoe to Borrower as provided in paragraph 14 hereof spedfying: (1) the breach; the action required to cure such breach; (3) a date, not less than 30 days from the date the notice is mailed to Borrower, by which sack breach mast be cared; and (4) that failure to cure such breach on or before the date specified in the notice may reaelt in acceleration of the sums secured by this lfortgege. foreclosure by judicial proceeding and sale of the Property. The notice shall further inform Borrower of the right to reinstate alter aeoeleradon sad the right to assert in the foreclosure proceeding des non-ezistence of a default or any other defense of Borrower to acceleration and foreclosure. If the breach is not cared on or before the date specified in the notice, Lender at Lender's option may declare all otthe arms secured by this Mortgage to be i mmediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. Leader sleall be entitled to eolled in each proceeding all ezpenses of foreclosure, including, but not limited to, reasonable attorney's fees, and costs of dowmentary evidence, abstracts and title reports. 19. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage. Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage diseontinned at any time prior to entry of a judgment enforcing this Mortgage if: (a) Borrower pays Lender all sums which world be then due ender this Mortgage, the Note and notes securing flhture r Advances, if any, had no acceleration occurred; (b) Borrower cons all breaches of any othereovenants err agreements of Harrower contained in this Mortgage; (c) Borrower pays all reasonable e:peases incurred by Lender in enforsvig the covenants and agreements of Borrower contained in this Mortgage and in enforcing Lender's remedies as provided in paragraph 18 hereof, including, but no! limited to, reasceable attorney's fees; and (d) Borrower takes each action as Lender may reasonably regain to assure that the lien of this Mortgage, Lender's interest in the Property and Borrower's obligation to pay the soma secured by this Mortgage shall continue unimpaired. Upon arch payment and care by Borrower, this Mortgage and the obligations secured hereby ahaU remain in fall force and effect as if no aooeleration had occurred. ~ 20. Assignment of Rents; Appointment of Receiver. As additional security hereunder. Borrower hereby assigns to Calder the rents of the Property, provided that Borrower shall, prior to acceleration under paragraph 18 hereof or abandonment of We Property, have theright to Dolled and retain andr yenta as they become dw and payable. Upon aooderation under paragraph 18 hereof or abandonment of the Property, Lender shall be entitled to have a receiver appointed by a ooart to enternpon, take poesemion of and manage the Property and to eolled the rents of the Property, including thane past due. All rents collected by the receiver shall be applied first to payment of the oasts of managementof the Property and eollediom of rents, indnding, batnot limited to, noeiver's fees, premiums on receives's bonds and reasonable attorney's fees, and then to the sums secured by this Mortgage. The recover shall be liable to account only far those yenta actually received. 6C~ K ~MGJ Pt6E~:0(7J