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HomeMy WebLinkAbout1460 ` ~ ~ ~ • 8. Inspection. Leader may make or caws to bs made reasonable eat:ies span and idpectioas dtispeepery.psreiiel tlaatlsreraiai giw Bonowee notice prior b aeny wch inspection speabring reasouaabis oaare tlserdar rdaRsd >s Lende~a iaieasrsts fbs !lagar~ . 8. Coudemaation.llne proceeds of any award or claim for damages. dived ee tJOa?esaeaaaAial, a ooaieeelioan vrifi aq ersisrsrfisaer other taking d the property, or pert Wereot. or foe oonwyanoe in lies d oosdaunafioo. nee ~'Y awiper asi alai ie pail ~ Lasrei. In the event of a total taking of the Property, the proceeds shall be applied to the errs ssoar~el b! tiis!/ee#agn, will the asoea~ iirr~. paid to Borrower. Ice the even of s paafial tskias of the Propertyy. eatleas Baer~ower and Lesisr ofiseewise epee is waking. ties aW ie applied to Ws sums secured by this Moetgags such propatioa d the proceeds as is egad b that paapatasa srbici fie arsaat title sears secured by this Mortgage immediately prior to the date dtaking bears to tbefairmarketralaeoftlsePk~epeRyi¦iare~atebpoerrsfiedaied taking. with the balance d the proceeds paid to Borrower. If the Propsrgr is abandoned by Borrower, or if. after notice by Lender to Ba:~ow~er that t6eaoodssieor eQssfeaa~ea aaaiarsdldsa claim for damages. Borrower fails to respond to Lender within 30 days after the date send nof~ioe is asae'ied. Iresier isaatMtseifsea>isctaal sPPLP ~ proceeds, at Lender's option. tither to rertoratioa er repair d flee prope<ty or to tie area aecard b!? file lgsefpaipn Udess Lender and Borrower otherwise agreeiavrriting, any each applicationdpaooeedstopei~alaiaHsetexdesierpsslprselieJse date of We monthly installments referred to in paragraphs 1 aced 2 heeed oar drange the amoaet d ads isatalLera. 10. Borrower Not Released. Ezteasion d the time for payment a modification d asnoaiiratim d Ilse wars aecaaei b ills llfarr~ape granted by Leader to any suoceasor in interest of Borrower aliall not operate to release. in any manaec the ~6iIKy dtieeaiipsai Beawer and Borrower's anocessore in interest. lender shall not be reinieed to oommeraoe prooeedinp aptsast sods saoasasrer aatlasc Madlesl fire for payment or otherwise modify amortisation of the sums seamed by this Maatgage by rweoa deny deaasd lade iytieeai~isaiBvawer and Borrowers suoceasors in interest. 11. Forbearance by Leader Not a Waiver. Any forbearance by Linder in e:er~ararat nay right er ~ ieiaaa~ safiQwise afforded by applicable law. shall not be a waiver of or preclude the ezereise tinny sods right a neare$y.'ILe peoeiaseaRdi•saenrae sr tic Payment of fazes or other liens o: charges by Lender shall not be a waiver d Lender's right b amelerafe tie aaataa~r title ihieiesias aecared b3? this Mortgage.- 12 Remedies Cnmarlative. All remedies provided in this Mortgage are distinct and come?ladiveto eery ehrer aijgbtsraaeiredy s~tlria MoArage or afforded by law or equity. and may be exerisai eoacnrrently, indepeadeafly err seooesaivd~ 13 3arooeasors and Assigns Bound; Joint and Several Liability; t'aiptioas. The ooveoanb sad a~eeeasesta isa• csafaiersiai bind, and the rights hereunder shall inure to, the respective snoassors and asogns d Linder aed Bsaa~eareti wtijsd M tie ~rriaisss d paragraph 17 her+eo£ All covenants and agreements of Borrower shall be joint and rev~eraLlbecaptimssasdieafi¦rsdficlraasg-0rspisd this Mortgage are for covenience only and are root to be used to interpret or define the pawisims heeeeE 1+1. Notice. Except for any notice required under applicable law to be given in another manner. (a) asy entice fo Bea+owerpawriielira this Mortgageshall begivea by mailingauch aoticeby oerti5ed mail addreesedtoBaavweratthePraprtyAd~+essaratsariefi~sraiisas Borrower may designate by notice to lender as provided herein, and (b) any notice to Lmde? abaU be riven by ae:ti5ed arai. setrsaeeript requested, to Lender's address stated herein or to each other address as Leader may designate by nofaoe do Baaroerlr:; pasPider iddis_ Aa~y notice provided for in this Mortgage shall be deemed to Issue been given to Bonm~ or Linder srbaa given a tie sasseries~aaael isreaaaa 15. Uniform Mortgage; Governing Law; Severability. Thisformofmortgageoombinesamdarmmve:aaamsfersaliassiasearaeas- uniform eovenants with limited variations by jurisdiction to oonstitnte a uniform secmity instiaameat ovrwuoig a+ed laape~f7_ 1L'slfarfg~a~e shall be governed by the law of the jurisdiction in which the Property is located. In the event that any pa+o~viaaan erclaasedliis lfufg~ear the Note conflicts with applicable law, such conflict ahaIl not affect other provisions d this ]farigage err fire Nave srbici cos Ire pas el'lTed without the conflicting provision, and to this sad the provisions of the Mortgage and the Note are decLred to be aeveralsie: lf% Borrower's Copy. Borrower shall be furnished a conformed copy tithe Note and dthis Martgageat Ilse tisedsecvdsseraltaw recordation hereof. 17.1Yansfer of the Property; Assumption. Lf all or any part of the Property or as iufe~eat tlaer®r is sold artraseierred iy BenwsQ wiWout Leader's prior written consent, excluding (a) the creation of a lien or wcwmbranoe saboediaafe to this ]dead. tbeRes6rae[a purchase money security interest for household applianoea„ (c) a transfer by devise. desoeot oe• b9 operatia~a d law apes tirere.fi dalsa~ tenant or (d) the grant of any leasehold iritereat of three years or lem not ooataining as opAioa to pasrciasq l®deraay; at I.eaies~sepitiaa, declare all the soma secured by this Mortgage to be immediately doe sad payable. Lender shall bane vraived each optiasbaaooelaaiiei~prier to the sale or transfer, Lendw and the person to whom the Property is to be Bold or transferred reach age+ee:am2ia vrrifia~gtiattieaaitdasci person is satisfactory to Leader and that the interest payable on the sums seavred by this Marigage shall be at arm aa/c as Lraieraiai ~ request. If Lender has waived the option to sooelerate provided in this paragraph 17, a~ if Boarowur'a soooesesr iaa imrte<et iassec~era written assumption agreement accepted in writing by Lender, Lender shall release Barto+?erfr+om all obiieafioas sus~tbisller~aoeasltie j Note. If Lender ezerciaes such option to accelerate, Lender shall mail Borrower notice of aooelaatiao in aooardaaaoe vdi psnagyali H ieresE Such notice aiaaU provide a period of not less than 30 days from the date the notice is mailed within which Ba<rswrersy paytieaarsiedard due. If Borrower fails to pay such soma prior to the expiration of such period, Lender may, without farther setieeQks~®Nenr,saG invoke any remedies penr?itted by paragraph 18 hereo£ 18. Acceleration; Remedies. Except as provided in paragraph 27 6ereoL a~pon Boarnvwea's ineari d ~ ~owsst er ¢ agreement of Borrower in this)Itortgage, including the oovenanta to pay whoa tine any eases sersr+ed by tiislartg~r,Laasr~er prior to acceleration shall mail notice to Borrower ere provided in paragraph 14 6ereatapedfyiis~(llt3seita+eac~ W fheaAiaw required to care each breach; (3) a date, not less than 30 days from the date the awtioe i mailer `o Hsr:+wrr:, b ~iiei sari breach mast be cru'ed; and (4) that failure to care such bread on or bdore tie doge ~peoEier ik tie watine asap aies¦It ~ acceleration of the soma secured by this Mortgage. foreclowre by judicial prooeediass tact sdieott3sePlnspery ~lsesdseeais>i further inform Borrower of the right to reinstate after soceleration asd the a~i~rttoaaseet>ttlreiaaeaioaseieps+sc~tie non-existence of a default or any other defewe of Borrower to acceleration acrd foa+eejoasew 8tie ineseisarsteesedwear before the date specified in the notice, Lender at Lender's option asp? deelae+e all of tie arenas seoa+er b fiti:large sir ie immediately due and payable without further demand and may foreclwethis Yort=aBelry jirieidpnooeei'i~.i.ewierairaYie entitled to collect in such proceeding all expenses of foreclosure, including, bat sot liasiter t0. naaorraYe att~aawey"st6eea„ near costa of documentary evidence, abstracts and title reports. 19. Borrower's Right to Reinstate. Notwithstanding Lendels aeoeleration of the same seoared b'tiis liart~a~pq 8an~oawaia/iave the right to have any proceedings begun by Leads to enforce Chia Mortgage disooertinued ad air tires prior to eatery eta ja~earteasim~ this Mortgage if: (a) Borrower pays Lender all sums which world be then tine order this Maai~e, tie Nsie and aster seeari¦g Fielsre Advances. if any. had no aeoeleration occurred: (b) Borrower antes all breacbea tinny otheroov~mantsoragaa+seetsefBams.erosataiieiia this Mortgage; (c1 Borrower pays all reasonable expenses in~vned by Leader in mfoadrag flee aov~saa®s am ageeeseris of Beeassrer contained in this Mortgage sad in enforcing Lender's remedies as provided in paragraph 18 hereof, ~E, bat art 1>~d tn,araassasYt? attorney's fees: and (d) Borrower takes such action as Lender may reasonably eegtore to aasan that tbelies dtiisliartp~ ldn'siaeeaert ~ in the Property and Borrower's obligation b pay the soma aeaared by this Maatgage shall aantinae aaimpsked. Upsswdrps~star~e ~ by Borrower, this Mortgage sad the obligations secured hereby shall remain in fall for+oe and eBect as if no aooeimatias iral aeeand. 20. Assignment of Rents; Appointment of Receiver. As additional security he:earnder Ba:maner iets~assegss rr iaderieada to oolledaadyretain such rent+~a~s they become due and~~~n nnderparagrapb 18hea~esforabandooaeo~tdtiePnrpeefyiaeefieaijdrt paragraph 18 hereof or abandonment of the Property, Lender shall bye entitled b haves aeoeive~r ~ Upon acceleration ender apleierdba court to enter.npon, take possession of and manage the Property and to collect the rrnta d the Property. iadadgg fuse poet ism Ai auis collected by the receiver shall be applied first to paymwt of the crests of managemeatdthe Property amdeoiieQiwdasfa~adsdi,g,istrf. limited to, receiver's fees, preminma on receiver's bonds and reasonable attorney's fees. and then is tie assent secueei bj fiisliealape'itVe receiver shall be liable to aooonnt only far those rents actually received. _ _ .