HomeMy WebLinkAbout14878. Ia~pection. Iwadee me~y make or c~we to be made reawnaWe eatrie~ upon and insp~ctioru ottbe/~zqr, p~vi~d ~it Lnd~c shall
siw Boaowe~ aotics prior to aay such irupsdioa ~pxibrinR reaaonable cau~e therefos related to Iwad 's in~rat ia t~ Pevp~r.
8. Condemnadon.'1Le pcoosed~ of any award or cl~im tor dams~e~, direct or ooruequsntial. in ooniuctioti wlth aeqr aoniMmnation oe
othK ta~ of the prop~et,y. ar pert thaeot. or for oonwyanca in lieu oi o~ndemnation. ars he:ebY wi~ned aAd shall bs paid to Iwud~e.
Ia eh~ evet~t oi a toW tatin~ oi the Pe~oPerq-. tbe proaeds shaU be spplied to the suaw Ncnred by thia Mort~os~. with tb~
paid to Horrowu. Ia th~ ~veat of a partial takit~ of th~ Pe~operfy. unlea BorroMre: and Lsado: otheewi» ~00~' ~~R1-•
applied to the ~uc~ ~ecuesd by thi~ Mort~a~e sucli p~opoirtion ot the proosed~ ~u iu ual to that ~~O° in writini. ~~haU b~
asc,vied by thi~ Mort~a~ uemediately p~or to tbe dat~e d takin bean b the feir mark~et valne oithe~~on which tbe einonnt a[ t!M ~nm~
taldns~ with th~ balsaa of We procasd~ pud to Borror~rer. -~ ~rtY immdiaf~r prior to tht dat~ o[
ltthe Propeety i~ ab~ndoaed by B.krower, oe if~ aRer aotioe by Lsnder b Bo~roweer that the oondemao: offer~ to make an award or ~tt~ a
daim ~or dem~a, Hosmwa fiil~ to rapond to Lsnd~ witbin 30 de~ys aRe: tl~e dets ~uch aotios ia mailed, Lender i~ sutbori~d b ooll~ct aad
~~Y ~ p'~ds. at I~dee'~ option. edWer to re~toretion or repuir of the pcopeur4y oe to the ~nm~ ~ecwred by thi~ Martiare,
Udew Iw~ aad Borrorve: otbervi~s a~ in writin~. any ~uch applicstion of proaab to principal shall not estead a~ postpon~ f~w dw
dab oi the m~tWy in~tallmeat+~ referred to in para~rayh~ 1 and ~ bee+soi or chsaQe the amoant oi snch Inatallmenta.
10. Borrower Not Reles~ed. Facteasioa ot the time for paym~t or moditication oi aaartisadoa of the anm~ ~ecwred by ~ b[o~a~
~~nted by Le~-det to aqy ~uoce~aor iA interest of Bon+ower ahall not operate to relaus, ia any nianner. the tiability of the o~inal Botrow~r
and Boemwer'~ wcce~wn in intere~f. Lender shall not be required to ocmmsnce prooeedin~s ~ainat snch suoceswr or rstiue to sutend tim~
for pe~yment or otherv+riae modify amortisation of the suau secured by thu Mortgage by reaaon of any demand made by the osi~inal garow~
and Botrowe~r'~ suaessors in interest.
11. Forbearanoe by L~der Not a Waiver. Any forbearencs by Lender in ~arcutng any ri~ht or rsmedy hereunder~ ~ othtRwi~s
a~orded by applicable law. ~hall not bs a ~raiver of or preclude the e:ercaae of any such riQht ar.remedy. Ths procanmeat of inrnranos or th~
paywernt ot t~e~ ar other It~u or charQes by I.ende: shall not be a Mraiver of Lender'~ ri~ht ~o ao~lerate We maturity of tbe indebtedneM
~ecured by this MortgaQe.
12 Remedie~ Gtimulativa All ramedies provided in thi~ Mort~age are distinct aud cnmulativs b any Mher ~ht or remedy undar thi~
blort~age ~ afforded by law+ or equity. and may be au~ci~e~t ooncurcently, indepeadently or snooeMively. ~
13. Sua~euor~ and 1~ai~u 8oand; Joint and Several Liabillty; Caption~. The oov~ant~ and a~e~eernenta he~ein contained ~hall
bind, end the righta h~eundes ~hall inurs to. the respective ~nooe~wn and at~iQ~u of Lender and Borrowez. ~nbject to the yroviaon~ d
para~raph 1? hereof. All oovenaata and aQreements of Borrower shall be joint e~nd ~sveral. The caption~ and headin~~ of the para~raph~ ot
thir Mort~ags an for cov~ieaoe only and are aot to be used to intarpret os define We provision~ hereoL
1~. Notioe. E:oept for any notice required under applicable law to be given in another manner. (aa any notice to Borrower p~ovided fo~ ia
this Mort~age ~haU be given by mailing ~uch notice by oertified mail addre~sed to Bon+o~rer atthe Property Addrew or at snch other addreM as
Borrowa a-ay de~ianate by notioe to Lender as provided herein. and (b) any notioe to I.a-der ahall be given by oertified msil. rstnrn reoviPt
reque~ted, to Lender's addresr ~tated herein or to such other addra~ as L~der may desiQnate by aotics to Borro~ver as provided hereia, Aqy
notioe provided for in tbi~ Mort;age shall be deemed to heva been given to Borrower or Leuder when ~Iv~ in the manne: de~i~aated he:+ein,
lb. Uniform ~ort~a~e; Governins I.sw; $everabtlltp. T'his form of mortgage uombiae~ nnifor~n ouvenenb f~ netional a~s and noa-
uniform covenantr with limited variations by jnrisdiction to oon~titnte a uniform security instrumeat ooverin~ real property.lbis Mort~a~s
shaA be govemed by'the law of the j~uisdiction ia which the Property ia located. In the eveat that any prowion or clause of thi~ Nort~aQe or
the Note contiicta arith applicable lew. auch conflict shall not a~ect other pmvisione of this Mortgage or the Note which can be ~ivsn effed
~rithout the oonilicting provirion. and to this end the prnvisions of the Morigage and the Note ara declared to be ~everable.
16. Horrower'~ Copy. Borrower shall be fumished a oonformed oopy of the Note and of this Mo~a~e at the time of esecntion or at~tez
recordation hereof. - .
17.1~aa~fer ot ti~e Praperti , A~aumption. If all or any part of the Propaty or an interest tberein is wld os trsn~ferrsd by Borro~vear
w+ithout Leader'e prior written content~ excluding (e) the creation of s lien or encnmbranoe aubordinate to this Morf~aa~e~ (b) the creation of a
pnrcha~e ~ney ~ecurity interest for household applianoe~~ (c) e tranafer by davise, de~oent or by operation of !aw apon tbe death of a joint
tenant or (d? the Brant of any lea~ehold intereat of three yean or las not oontaining an option to pnrchaee. Leader may~ at Lender's option,
declan all the sum~ secured by t!w Mortgage to be immediately due and payable. I.enda shell have waived such option to aooelerate if~ prios
to the ~ale or tranafer. L.enda and the person to whom the Property ia to be soW or transferred raa~h e~reem~t in wtiting that the cteditof sncb
per~oa i~ satisfartory to Lender and that the intereat payable on the suma eecured by this Mortgage shall be at ~nch rate as I,~des sha11
request. If Lender has waived the option to accelerate pzovided in thia peragraph 17. and if Borrowds snooessor in intered }tas aecuted a
wntten assumption agreement aocepted in writing by Lender. I.ender shall release Botrower irom all obligation~ undez thi~ Mortgage and the
Note.
If Lender pcerciaes such option to aocelerate, Lender shall mail Borrower notice of aooeleration in aooordanoe with paragraph 14 hereot
$nch notice ahall provide a period of not lees than 30 days from the date the notice is maildd within which Borrower may pay the suma declared
due. If Borrow~ fails to pay euch sucna prior to the e:piration of auch period, Lender may, withont fucther notice or demand on $orrower~
invoke any remedi~ permitted by pazagraoh 18 hereof. .
18. Acceleration; Remedle~. E:cept a~ prnvided in paragrap6 17 hereof. upon Borrower'~ breach ot aa~ oovenant or
agreement of Borrower in f6is Mortga~e, ineludina t6e oovenants to pay when due any ~um~ sewred by thi~ Mortaa~e, Lende~
pr~or to aa:eleration shall mail notice to Borrower as pmvided ~n para~raph 14 hereof spedtytn~: (1) the breacb; (2) t6e action
re4nlred to care such breacb; (3) a date, not less t6an 30 d4Ys llrom the date the notice L matled to Borrower. 63r w+hic6 ~ach
1n'each wust be cured; and (4) that failnre W cnre ~uch breach on or betore the date specifled ia the nodoe mq re~nlt in
sooeleration of the sums secured by this Mortgege, foreclorure by Judicial prooeedin~ ewd sele ot W e Property. The notioe ~ball
tnrther inform Borrower of the right to reinstate after acceleration and the rl~ht to aoaert in the foreclo~nre prooeedjas ths
non-eztatence ot a detault or any other defense at Borrower to aoceleration and toreclosure. It the breach L not cared on or
betore the date ~pecified in the not[ce, Lender at I:eQder's option may declare all ot the sumr ~e~ured by thi~ Mortsase to be
immediately due and payabie wit6out l~rther demand and mey toreclose thls Mort~u~e by judicIa! prooeeding. L~nder ~hdl be
entitled to oollect in such proceeding all ezpenses of foreclorure, including, but not limited to. reawnable attorney'~ fees, and
oosts oi documentary evidence, abstracts and title reporta.
19. Borrower•~ Rig6t to Reinatate. Notvvithstauding Lender'e aoceleration of the suma oecured by tbi~ Mort~ege, Barower shaU haw
tbe right to have any proceedings begun by Lender to enforce this Mortgage disoontinued at any time pri~ to entnr of a judsment ~forcint
thi~ Mortgage if: (a) Borrower pays Lender all eume which would be then dae ander this Mortgage, tbe Note aad note~ ~scurin~ F~turt
Advaac~s, if anY. had no aooeleration oocurred; (b) Borrower cures aU bnaches of any other ooveaanta or a~reem~nt~ of Borro~rer oontained in
t1~ btortga~e: (c) Borrower pays all reasonable ezpenses incurred by I.ender in enforcing the oove~nant~ aad age+eemenb oi Botrower
oontained in thi~ Mortgage and in enforcing Lender's remedies as provided in paragraph 18 heraot~ includin~, bat not timited to, tevooabb ~
attorney's fas; and (d) Borrower t8kes snch action as Lender may reaeonebly require to assure that the li~ of thi~ Mortgs~e, Leader'~ intere~t
in the Property and Borrowela obligation to pay the euma secvred by this Mortgage shall oontinue nnimpaired. Upon ~nch paymeataad catr
by Borrower, this Mortgage and the obligationa eecused hereby ahall remain ia fiill foroe and dfect as if no aooderwtion had oocurred,
Z0. As~i~nment otRents; Appointmeat of Recelver. M additionel ~ecnrity hcreunder. Borrower hereby aeaig~u to Leadathereah
of the Property, provided that Borrower shall, prior to acceleration nnder paragraph 18 hereof or abandonmeat of the Propezty, have the ri~ht
to oollcd and retain such n~nts sa they become due and payable.
Upon acoeleration under paragraph 18 hereof oT abandonment of the Property, I,ender ahall be entitled to have a reoef ver appointed by a
oourt to entera~pon, talce pw~earion of and manage the Property and to oollect the renta of the Property~ iacluding tho~e pad dne. AU sent~
aollected by the mxiver ~hall be applied 6rst to payinent of the oosts of management of tbe Property and oollection of r~ta, incinding, bnt nd
limited to, reoeiver's few, pcaniums on reoeiver's bonda and reasonable attorney's fee~, and then to the ~umr ~ecured by tbis Most~a~e. The
reodver shaU be liable to soouunt only for those rents adually reoeived.
80~ ~45 P~1485