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Home My WebLink About1047 .. - :• 8. Inspection. l.ender mey make or cauee to be mede reasonable entriee upo~ and i~apections otthe properiy, provided that l.ender ahall ~ve Borrowe~ notice prio~ to any such inapection apecifying reasonable cauee lherefo~ related to l.e~der'e intereel in the Propecty. 9. Condem~ation. 71~e procreds ot any award o~ claim for damagee, direct or coneequential, in conneclion with any rnndemnation or other taking of the property, or part thereof, or fo~ co~veyance i~ lieu ot condemnation, are hereby a8signed a~d ahuU be paid to l.ender. In the event oi a total taking of the Propetiy, the pmceede ahall be applied to the eume secured by thie Mo~tgage, with the excess. i[any, paid to BoROwer. In the event of a partial taking of the Property. uolexs E3orrowe~ and l.ender otherwiae agree in writing, there ehall be xpplied to the sume aecured by lhis Morigage such proportion of the proceeda as ie equal b that proportion which the amou~t of the eume yecured by thie Mortgage immediately prior to the date of taking bears to the fair market value of the Piroperty immediately prior to 1he date ot taking, with thP bnlanca of the proceeds paid to Rorrower. If the Property is abandoned by ilorrower, or if, afte~ notice by I.ender lo Horrower that the condemnor ofFere to make a~ award or eetUe a claim for damages, Borrower faila to reapond to l.ender within 30 days atter the date euch notice ie mailed, I.ender ie authorized wcoUect and apply the proceede. at I.ender s option, either to reawration or repnir of the pmperty or to the eume secured by this Mortgage. Unlesa L.ender and E3orrower otherwiee agree in writing, any such application of proceeda to principul shal) not eitend or poetpone the due date of the monthly inatallments referred tn in paragraphs l and 2 hereof or change the amount ot auch inatallmente. 10: Borrower Not Relear~ed. F.xtensiun ot the time for paym~~t or modificution of nmortization of thr aums secured by this Mortga~Le Kranted by I.ender to nny succexsor in intemat of Rormwer shall nol operate to release, in any manner, the linbility Qf the original Borrower and Bormwer's succrssors in interest_ l.ender shnU not be reyuired to commence proceedinKx ag~inst such xucresxor o~ refuse to exte~d time f~~r pa~yment or otherwiye m~xlify nmorl:zati~>n of the sums securrcl by thia MortK~Ke by reaFwn of any demand made by theori~inal liorrower and liorn~wer s xuiress~rs in interest. l 1. Forbearance by Lender Not a Waiver. Anv forbearance by [.ender in exerciaing any right or remeciy hereunder, or otherwise :-fforded by applicable law, ahall not be a waiver of or preclade the exereiese of any auch right c~r remrdy. The prucuremrnl of inaurance or the p:~yment of taxes or other liena or chargea by I.ender shall not be a waiver of lxnder's righE to accelerate the maturity of the indebtednesa ~ecured by this Mortgage. 12 Remedies Cumulative. All remediea provided in this Mortgage are distinct and cumulutive to any other riqht or remedy under thie ~tortl•age or At[orded by law or equity, and may be exercise~l rnncurrently, independently or succesaively. l:;_ Suecese~ora and Asaigne Buund; Joint and Several l.isbility; Captione. The covenants and agreements hemin contt~ined shall F~ind, nnd the rights hereunder ahall inure to, the respective sua-easors and asaigne of l.ender nnd Born~wer, eubject to the proviaiona of F,;in+Kraph 1? hereof. All co~ enants and ugreementa of I3orrower shall be joint and xeveral. The captiona and hendings of the paragrapha of this 1~lurtgage are for covenience only and are not to be uscd tu interpret or define the provisions hereuf. 14. Notice. Exrnpt Cur am• notice rcr~uired under a~pplicable lavr to tM Kiven in another ma~nnr~, la- any nuti~r to li~-rruNer p~uvided forin thi~ MortKage shal) begiven by mailing xuch notim by crrtified maif addmx.4ed to E3orrower at thr Pruperty Addreas or at auch other addreae as ltorrower ma~ designate by nntice to i.ender as provided herein, and (b) any nutim to l.ender ahaU be given by crrtified mail, retum receipt n~yuestrd, to I~ender's addresc: stated herein or to such other addreris as I.ender may deaignate by notice tcz 13orrower aR provided herein. Any nutice pro~~ded for in thia hlortgage shall be deemed to h~ve been given to Born~wer or l.ender wiien given in the manner designated herein. I5. UniCorm Mortgage; Governina l.aw; Severability. This form of mortgage combinex un iform mvenantx for national usr and n~n- unifonn rnvenan~4 with limited varintions by jurixdiction to cunstitute n uniform xecurity instrument rn~ering real property. 7'his M~rtgage sh~~ll bs~ Koverncd by the law of the jurisdic~tiun in which the IM-perty is loc:~ted. In the event that any proviPion or clauxe of thia Mortgage ot the \ote con(lic~~ w•ith ~pplicablr Is~w, such conflict shall not affect olher pro~isions of this Mortg~Kr or the Nute which can be Kiven effect w•ithout th~ rnr.llictinK pmviaiun, :ind t~~ thix end lhe pro~~iaions of the MurtKaKe snd the Note arr declared to be severable. 16. E3orrower's Copy. f;orruwer ahall be furnishecl a c~-nformed copy of the I~ote and of this Morlgage at the time of executiun or after rrcurciation hereot. I i_ Transfer ot the Property; Adaumption. If s~ll or any part of the I'roperty or an interc~t therein is sold or transCerred by liorrower /~~% w•~.houi l:rnder's prior written consent, excluding Ia1 the creatiun of a lien or encumbrance sut-ordinate tu thiR AiortqaRe, lb- the crnation of a ~ pur_~ha~ money xecurity interest for household appliancex, Ic1 a transfer by devise, d.scent or by operation of law upun the death of a joint trnant ur ld) the Kr~nt of any leasehold intemst ot three years or les.g not cont~zininQ an option to purchase, l.ender may, at l~ender s option, declare all the sums xecurcb by this MortRaKe to be immedialely due and payable. I.ender s!~.JI have waived such optiun to accelerate if, prior t~~ the sale or transter, l.ender ~nd the pen;on to whom the Property is to F-e sold or transferred reach xKreement in writinK that the credit otsuch p~•rsan is satisft~ctory G~ Ixnder and that the interest pa~able on the suma securc~f by this MurtKaKe shall t-e at such rate as I.ender shall rcY~u~st. If I.ender has waivecl the uptiun to accelerate providid in this p.iraKraph 17, and if liorrower's e;ucrerzsor in interext hax executed a w~rittrn asaumptinn aKreement .~ci~rptrd in writinK by 1 ~~nder,l.Fndershall rcleaise liurruw•er frum a!I obliKatiuns underthis MortKage and the \ ute. ' If I.ender exercir:cw such option to acceler:~te, 1 xnder shall m:iil Borruwrr notice of acceleratiun in acrnrdanrn with paragraph la hereof. ~uch noti~r sh~ll pmvide a period of not Ic~.g than =Nldays from thedatethe notice i4 rr.ailed within w•hich Borruwer may pa~ thesums declarcd duc•. If Rorrower fails to pay such sums prinr to the expiratiun of such E-rri«I. Iw•nder may, without furiher nuticr or demand on ISorrower, ~nvoke am• remedirs permittecl bp p;~raKraoh 1K hereuf. 18. Acceleration; Remediee~. F.xcept as provided in paragraph 17 hereot upon Borrower's breach of any covenant or uQreement ot ~3orrower in this Mortqaqe. including the covenanta to pay when due any euma eecured by thid Mortgaqe. Lender prior to acceleration shall mail notice to Rorrower ax provided in paragraph 14 hereof apecifying:! 1-the breach; l'l-the action re~quired to cure auch breach;l3) a date. not less than 30 days from the date the notice ie mailed to Borrower. by which such breach muat be cured; and (41 that failure to cure auch breach on or before the date epecified in the notice may result in xcceleratian otthe sums secured by this Nortgage. foreclodure by judicial prceeeding and saleotthe Property.The noticeahall further inform Borrower ot the right to reinatate atter acceleration and the right to assert in the foreclosure proceeding the non-exiatence of a detault or any other defense of Iiorrower to acreleration and foreclosure. It the breach ie not cured on or tx•fore the date specified in the notice. l.ender at Ixnder's option may declare all ot the euma aecured by this Mortgage to be immed'+ately due and payable without furtherdemand and mey foreclosethis Mortgageby judicial proceeding. I.enderxhall be ~~ntitled to collect in such proceeding all e:prnxex of forecloaure. inciuding. but not limited to. reaxonable attorney's fees. and i•oats otdocumentary rvidence, abstractx and title reports. 19. Borrower's Right to Reinetate. Nolwithstanding I,ender'x acceleration of thesums secured by this MoriqaRe, BcirrowerAhall ha~e the riKht lo have :~ny proc~rdings begun by I.ender to en(orce this Mort~aKe disc~mtinued at any time prior to entry of a ~udgment enforcinQ this MortgaKe if: la) E3orrower pays I.ender all xums which would t-e then due under this Mortfcaqe, the Note and notea xecuring Future Advances, if any, had no acceleration occurred; lb1 fiorrower cures all breachex of any othercnvenpnta or agreementa of I3orrower contained in this MortKaKe; (c- Borrower pays all reasonable expen~ex incurred by I.ender in enlorcing the covenanta and agreements of i3orrower c~ntained in this MortgaQe and in enforcinK I.ender's remedies as pn-vided in para~Lraph lR hereof, including, but nol limited to, reasonable attorney's fees; and (d1 B~rrower takea such Action as I.ender may reasonably reyuire to aseure that the lien of this MortgaKe, l ender's intereat in the I'roperty and I3orrower's obligation to pa~ the sums secured by this MortKage shall continue unimpaired. Upon auch payment and cure by 13orrower, thie Mortqage and the obliqations secured hereby shaU remain in full force and effect as if no acceleration had occurred. `L0. Aaeignment otRents; Appointment ot Receiver. As additional ~urity hereunder, Borrower hereby asaigns to I.enderthe renta of the Property, provided that E3orrnwer shall, prior to acceteration under paraRraph I S hereof or abandonment of lhe E'roperty, have the right to collect and retain auch rents as they become due and payable. ljTpon acceleration under paraQraph IR hereof or abandonment of the Property. I.ender ahall be entitled to have a receiver appointed by a court to enter upon, take possesaion of and manage the Yroperty and to collect the renta of fhe Property, including those past due. All rente collected by the receiver ahall be applied first to payment of the costs of management of the Property and collection of rente, including, but not limited to, receiver'e fees, premiums on receiver's twnda and reasonable attorney e feea, and then to the suma secured by this Morlgaqe. The ~receiver shal) be liable W acwunt only for those rente actually received. _ ~~~K "~346 Pa~Ela45