HomeMy WebLinkAbout26608. Inepection. lxnde~ may make or cauae to be made reaeo~able entriee upon and inapectiona of the property, provided that I.ender shall
Kive I3orrower notice prior to any such inepection epeci[y~ng reaeunable rauar therefor related to l.ende~ s internet in the Property.
9. Condemnation. 'I~e proceeda of any award o~ claim fur damages, direct or coneeyue~tial, in connection with any oondemnation o~
uther taking of the property, o~ pari thereof, or for conveyance in lieu of condemnation, ure hereby aseigned and ahal) be paid to I.ender.
In the event of a total taking of the Property. the proctirde shall be applied to the auma secured by thie Mo~aqe, with the excese. if any,
pi~id to Borrower. I~ the event of a partial taking of the Property, unleas Ronower and I.ende~ otherwise aRree in writing, them ehaU be
~~pplied to the auma eecured by thie Mortgage auch proportion of the proceede as is equal to that proportiun which the amou~t ot the suma
wecured by this Mortgage immediately prior to the date of taking beare to the fair market value otthe Property immediately prior to the date of
taking, with the balanc~ of the proc~eeda paid to Borrower.
If the Property ie abandoned by Borrower, or i[, aRer notice by l.ender to I3orrower that the condemnor oftera to make an award or aettle a
~~laim for damagee, Borrowe~ faila to rnapond to I.ender w~thin 30 days after the date euch notice is mailed, I.ende~ is authorized to collect and
apply the proceeda, at Lender e option, either to reatoration or repair oi the property or to the auma secured by this Mortgage.
Unleae l.ender and Borrower otherwise agree in writing, aoy auch application of proceeda to principal ahall not extend or poetpone thedue
date of the monthly inatallments referred to in paragraphe l and 2 hereof or change the an~ount of euch installmenta.
t0. Borrower Not Released. E:ztenaion ot the time for paym~nt or modification uf amortization of the aums aecured by this Mortgage
ti~ranted by l.ende~ to any successor in inteYest of E3orrower ahpll not operate to rniease, in any manner, the liability of the original Borrower
and I3orrower's succeasors in interee~t. l.ender shall not be required to commence proceedinRs ngninat such succeseor or refuse to extend time
f~ ~r payment or otherwise modify amortizution of thc sumx sccurtd b} this blortKaKe b~ muscm of any dcmund mude by the original Borrower
and Rormwer's succrs.gorv in interest.
t l. Forbearance by Lender Not a Waiver. Any forbearance by l,ender in exerciainR any right or remedy hereunder, or otherwiae
:~fforded by applicable law, ahal) not be a waiver of or preclude tl~e exemise of any auch right or remedy. The pn-curement of insurance o~ the
p:iyment of taxea or other liena or charges by Lender ahull not be a waiver of l.ender'a right to accelerate the maturity of the indebtedneas
,ecured by this Mortgage.
12 Remediea Cumulative. All remediea provided in thia Morigage are distinct and cumulative to any other right or remedy undet this
~iortrage or afforded by law or equity, and muy be exerciscYl concurrently, independently or auccesaively. ~
13. Succeasore and Assigne Bound; Joint and Several Liability; Captione. The covenanta and nRreementa herein contained shall
t~ind, and the rights hereunder shall inure to, the reapertive succexsors and asaigna of l.ender and I3orrower, subject to the proviaions of
Er~ragraph I? hereof. All covenants and ngreements of E3orrower ahall be joint and aeveral. The captions and hendings of the paragraphs of
this tifortgage are for covenience only and are not to be used t~~ interpret or define the provisions hereof.
14. Notice. Eacept for ~ny nutice rc~uired under applicable lavv to t~e Kiven in another manner, (a1 ~ny notice to E3orrower provided tor in
t his l~tortgage shall be given by mailing such notice by certified mail addressecl to Eiorrower at the Property Address or at such other address as
I~urrower may designate bv notice to l.ender as provided herein, and (b1 any notice tu l.ender shall be given by certified mail, return receipt
rcK~uested, to l,ender's address stated herein or to such other addreas as Lender may desiRnate by notice to Borrower ax provided herein. Any
n~~tice provided for in this Mortgage ahall be deemed to have been given to E3orrower or l.ende~ when given in the manner designated herrin.
15. Uniform Mortgage; Governing Law; Severability. Thia form of mortgage combines uniform co~•enants [ur national use and non-
uniform covenants with limited variations by jurisdiction to constitute a uniform security instrun~ent covering real property. This Mortgage
.h:-Il be Qoverned by the law of the jurisdiction in which the E'roperty is located. In thr event that any pm~•ision or ci3use of this Mortgage or
the Note conflicts w~th applicxble law, such conflict ahall not aftect other provisions of this MortKaRe or the Note which can l-e given effcrt
H•ithout the conflictinR pn-vision, and to this end the proeisiona of the MortKaQe and the hote are declared to be severable_
16. Barrower's Copy. Borrower shall be furnished a conformed copy oC the Note and af this Mortgage ut the time of execution or after
rt~•urdation hereof
17. Tranater uf the Property; Axsuroption. [f all or any part of the Yroperty or an interest therein is sold or transferred bv I3orrower
w rthout I.ender s prior written consent, excluding lal the creation of a lien or encumbrance subordinate to this hiort~age, lb) the cmation of a
E~urchase money security interest for house}~old appliances, lc1 a transfer by devii+e, dascent or by operation of law upon the death of a joint
tt•nant or (d) the grant of any leasehvld interest of three years or less not containinR an option to pumhase, I.ender may, at I.ender's option.
~f t•clare all the sums secured by this Mortgage ta be immediately due and payable. I.ender shall have vvaived such option to accelerate if, prior
!~: the sale or tranafer, l.ender and the person to whom the Yroperty is to be sold or tran. ferred reach agreement in writing that the credit of auch
E~~•r~un is satisfactory to Ixnder and that the interest payable on the sums secured by this MortKaKe shall be at such rate as l.ender shall
rt~~uest. If I.ender has ~aived the uption to accelerate prmided in this paraQraph 1i, .ind if i3orruwer's succ~tior in interest has executed a
« ntten assumption agteemrnt a~repted in w-ritinK by I.ender, l.ender shall release Borrower from all obligati~~ns under this Mort~age and the
.`:~~tr.~.
I f Ixnder exercises such option to accetrrate, l.ender shall mail (3orruwer notice of acceleration in accordance with paragraph 14 hereof.
tiuch notice shall pro~•ide a period of not Ic:ts than :ifldays from thedate the notice is mailed within which RorroNermay pay thesums declared
~iu~~. If BorroMer fails t~~ pay :cuch sums prior to the expiratiun ~f such pericxl, l.ender mny, withuut further notice or demand on f3orrower,
in~•oke any remedics permitted by paraKraoh ltt hercr-f.
18. Acceleration; Remedies. Except as provided in paragraph 17 hereof. upon Borrower's breach of any covenant or
:iKreement of Borrower in this Mortgage. including the covenants to pay when due any sums secured by this Mortgage, Lender
prior to acceleration shell mail notice to Borrower as provided in paragraph 14 hereofapecifying: (1) the breach; (2) the aMion
ri~quired to cure such breach; (3i a date, not less than 30 days from the date the notice is mailed to Borrower, by which euch
tirc•xch must be cured: and (4) that failure to eure sueh breach on or before the date specifed in the notice mey result in
.~~•celeretion of theaums secured by thi~, Mortgage. foreclosure by judicial proceeding and saleofthe Property.The noticeshall
further inform Rorrower of the right to reinstate aRer acceleration and the right to esaert in the foreclosure prceeeding the
n~~n-ezistence o! a detault or any other defenae ot Borrower to acceleration and foreclosure. If the breach ia not cured on or
t~c•fore the date specified in the notice, I.ender at l.ender's option may declare all of the auma aecured by this Mortgege to be
i mmediately due and payable without furtherdemand and may foreclose this Mortgage by judicial proceeding. l.ender shall be
~~nt itled to collect in such proceeding aU exprnses of forecloaure, including. but not limited to. rearwnable attorney's fees. and
~~<-~ts of documentary evidence. abstracts and title reports.
19. Borrower's Ripht to Reinstate. Notwithat~-~ndinK I.rnder's acceleration of theaumssecured bythis Mortgage, Rorrowershall have
t he right to have any proceedings begun by l.ender to enforcr thie Mortgage discontinued at any time prior to entry of a judgment enforcing
this Mortgage if: (a) Bormwer paya I.ender all suma which would be then due under thie Mortgage, the Note and notes secaring Future
Ad vances, if any, had no acceleration occurred; ~b- E3orruwer cures all breachea of any other covenante or agreements of Borrower contained in
this blortgage; (c1 E3orrower pays all reasonable expenses incurred by I.ender in enforcing the covenanta and agreements of Borrower
~•untained in this Mortgaqe and in enforcing l.ender's remedies ae pruvided in paragraph lA hereof, including, but not limited to, reasonablr
:~ttorney's [ees; and Id1 Borrower takes auch action as I.ender may reasonably require to assure thal the lien of this Mort~age, I.ender's intereet
in the Property and E3orrower'a obligation to pay the su~ns secured by this MortgaQe ahall continue unimpaired. Upon such payment and cure
t~~~ Borrower, this Mortgage and the ubliQatione secured hereby ehall remain in fu11 [orce and effect as if no acceleration had occurred.
20. Asaignment of Renta; Appointment ot Receiver. As addiiional security hereunder, Borrower hereby assigns to Lender the renta
~~f the Property, provided that Aorrower ahall, prior to acceleration under paragraph l8 hereof or abandonment of the Property, have the right
t~~ collect and retain such rents as they become due and payable.
Upon acceleration under paragraph 18 hereof or abandonment of the Property, l.ender shal) be entided to have a receiver appointcd by a
cnurt to enter.upon, take posseRSion of and manage the Yroperty nnd to collect the rents of the Properly, including thoee past due. All rents
c~~~llected by the receiver shall be applied first to payment of the costs of manaqement of the Property and collectian of rente, including, but not
1 imited to, recei~•er's fees, premiuma on receiver's bonds and reasonable attorney's fees, and then to the aums aecured by thie Mortgage. The
receiver shall be liable to acrnunt only for thoae renta actually received.
°^B,.oR,c rJ~i~ P~6F~~
t ~~~x 34~ ~~~t 2fi~9
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