HomeMy WebLinkAbout18848. Inspection. l.ender may make or cauee to be made reasonableentrie8 upon and inepeclions of the properly, pruvided that I.ender ehall
Rive Horrower notice pri~r to any auch i~epection apecifyi~g reasonable cauee therefor related to l.ender'e interrat in 1he Property.
9. Condemnation. The proceede of any eward or ciaim for damagee, direct o- cunsequentiai, in conneclion with any condemnatiun ur
other taking ot the property, ar part thereof, ar for co~veyance in lieu ot condemnation, are hereby aeeigned and ehatl be peid to I.ender.
In the event of a tolal taking ot the E'roperty, the pn~s ehall be applied to the sume aecured by this Mort{eage, with the exceas, if any,
paid to lio~owe~. In the event of a partial taking of the !'rupeHy, unleas Born-wer e~d I.ender otherwiee agree in writing, lhere ehall be
~+pplied to the sume eecured by lhie Mo~tgage euch proportion of the prc-ce~.ds ae ie equnl4, that proportion which the amount o[ lhe aume
Necured by lhie MortRuge immediately prior to the date of taking beara b lhe tair market value of lhe I'roperty immecliately prior lo lhedate of
takinR, with the balenc^~ of the pn~ceecie pxid to Borrower.
If the I'roperty ie abandoned by l3orrower, or if, aRer nutice by I.ender to Rorruwer Ihnt the rnndPmnor offere tu make un nwerd or eettle a
~•Inim for damages, Born~wer faile lo reepond to l.endrr within :i0 days aRer the di~te auch noti~r ie mailed, (.ender ie aulhorized to collect and
~pply the pra~c~eda, at l.ende~ a option, eithpr to ~toration or repnir of the pmperty or to the eume eecured by thie Mortgage_
IJnleea I~ender and t3orrower othenviae agree in writing, any such applict~tion of proceeda tu principal efi~ll not extend or puetpone the due
dnte of the monthly instalimente mferred to in parn(~raphs 1 and 2 hereof or change the amount of auch ipatnllmente.
10. 13orrower Not Releasecl. Extension of the time for pnym: nt or modificntiun of i~mortitatiun of the sumx securect by this Mortg~Ke
Kranted by l.ender to uny Purcex~-r in intemsl t~f I3orrower shall not operate to ~le~ixc, in nny ms~nner, the lii~bility of the oriQinal 13orrower
:~nd 13~-rrower's succeasorx in intereat. I.ender sha~ll not tx~ required to cti~mmenrn proceedinKx uKninst such xun•~•~u~r or refuae to extend time
fnr pa~•ment ur utherM•ise m~Hlifv .+mortization of th~• sums secunYi h~ this MorlKs~Ke by m:iwrn uf any demand mt~de by theuriKiniil Borruwer
au~d 13~~rn,N•er's sun~e~.w~rra in inten~-t.
I 1. Forbearance by Lender Not a 1b'aiver. Any forbearanre by l.ender in eaercisinQ a~ny right or remcYly hereunder, or otherwiae
~I~OTCIC(I Ify APPIICAbIC ~AN, ehall not be n M aiver of or preclude the exerci~ of nny such right or remecly. The procuremenl of inr+urnnce or the
paymen/ of taxee or other liena or charKee by I~ender shnll not be a wai~~er of I.ender'a right to t~ccelerate the maturity of the indebtedneas
,cr~ured by thia Mortgnge.
1'L. Kemediee Cumulative. All rnmediea provided in thia hlortgaKe am distinct and cumulative to Hny other riRht or remedy under thiP
~torlraRe or afforded by lnw or equily, and may be exercised rnncurrenUy, independently or succeyai~~ely.
13. Successore and Aasigne Round; .loint and 5eevc:ral Liability; Captione. The covenante and f~Kretmenl.g hernin cY~ntainecf ahall
hind, and the riKhts hereunder shall inurn tu, the reapective auccexsors and assiRns of I.ender and i3~-rrov-er, subject to the provisiuna of
paraRraph 17 hereof. All covenants ~nd nKreementa of E3orrower xhall be jn~nt and aeveral. The captions and hei~dinKs of the par~Kraphe of
this D1ortKage are Cor rn~enience only ~nd are not to be used to interprel or define the provisio~+e hereof.
14. Notice. Exerpt for am• nutiee rec;uirecl under applicnble law t~i he Ki~•en in tmother mann~~r, (al ~~ny m~ticr b~ Rorruwer providcyf for in
t his Mort~age sh.~ll t-e Kiven b~ mnilinR such notice b~ certified mail addressed to F3ormw•er at the 1'roperty Address or:~t auch other addresa as
I~orroN•er may dexiKnate by nntice to l.ender .+s pmvided hereir., and fb- nny notice to I.ender Rha~l1 he Ki~ rn by certified mail, return receipt
n~yuested, to l.ender's address stat~l hernin or to such other addresa .u+ I.ender may desiKnate by notice to 1~-nower aa pruvided herein. Any
n~~tice pro~•ided for in this Mort~caKe xhall be deemed to hnve been given to liorrow~er or I.ender when gi~en in the manuer deaignated herein.
15. l!niform NortgaKe; GoverninR I.aw; Severability. This torm of mortKaQecumbine4 uniform rnvenanta for netiona) use ~ind non-
uniform co~•e~:~~ts N~th limiteei eariations bv jurisdiction to cti~nstitute z~ uniform ~•urit> ins±rument rn~~erin~; real pruperty. This MurtKt~Ke
.h:~ll tre Qo~•ern~1 b~• the laN of thP juri~dictiun in which the 1'roperty is locnted. In lhe e~•ent that an~~ pro~•iyion or claurce of this 1~IurtgaKe or
the \ote conflictc N~th applii~abl~~ law•, auch contlict shall nut affect other proviaions uf this MortK:+Ke or the Note..•hich can t-e Kiven effect
..~~thout the rnntlictinR pmvivion, and to this end the pro~~isiona of the N1ortKaKe and the Note are declared to be se~er~ble.
16. Barrou•er's Copy. 1~-rn~w~r ghnll be fumishect a conformed rnpy of the Note nnd of thia MortKaKe at the time of executiun or nfter
recorciatio~ herenf.
I 7. Tranefer of the Property; AsAUmption. If all or any part ot the i'roperty or an intereat therein ia sold or transferred by Ronower
w~thout lA nder's prior vrritten consent, excludinR lal the creatiun of a lien ur encumbrance sulH~rdin.itr to thiq MoriKaiKe, lhl the creation of a
purchaxe money scrurity inlemst for houaehuld applianms, lc) a transfer by devise, d•rscent or by operation uf law up~rn the denth nf a jc,int
t~nant or ld1 the Rrant of any leasehold interest of three ~~ears or less not c~nt~ininR an option to pumh.iqe, l.ender may, at l.ender's uption,
declare nll the sums ~ecurect by this Mort~Cttge to ~-e imm~iat~ly due .+nd pt-yable. I knder shall hnee waivecl such option to accelerate if, prior
t~ ~ the saie or t~ansfer, l.ender and the person to whom the 1'roperty ia to be sold or transfermd re.i~h .~KreemPnt in writinQ that the credit of auch
~u•rr;un is ~atisGictorc tn I.ender and th.~t the interest pa>•able un the sums ,~tivrevi by this 11~~rtK:~K~• tihall i~e at such rale i~s I.ender shall
rt~~u~wt.,1[ [.ender has ~•aiv~~ci the optiun to acn~lc•rate providecl in this par:~ECraph 1~, and if Korro~er's succc~:~or in interer,t hs~x executed a
wntten accumption <+~c~•ment acrepted in writinK b~• I.ender, l.ender shali rele:-.ge RurruNerfrum:ill ~~hliKatinns underthis MortKaKe:~nd the
\ ~ de. '
If Ixnder exerci~e::.uch option to acmlerat~, l.ender c1i:~ll mail Rorrower noticeuf accrleration in accordanc-e wuh p~raKraph ld hereof
~uch nnticr• chall pr~~vidt~ a prri~id of not I.•.s than :i(-days frum the datethe nutice is rr.ailerl w•ithin w•hich R~~rruw•er mav pav thesums declarPd
riu~~. If Rurrower failc tu p.i~• ~uch sumti prior tn the expirauon of su~h prriucl. I.ender mu>, withuut further noticF or demand un Iforrower.
~m•oke an~• rem~vliF~. permittecl b~• par.i~traui~ in her~~~l.
1R. Acceleration; Remedies. Except as provided in paraaraph 1 i hereot, u~n Rorrower's breach of any covenant or
~Kreement ot BorroN er in this Mortgage. including the covenants to pay M hen duc any auma serured by this Mortgage. Lender
prior to acceleration shall mail notice to Rorra~s•er as provided in paragraph 14 hereof specifying:l l) the breach;l2) the action
reyuired to cure such breach:l3) a date. not less than 30 days from the date the notice ie mailed to Rorrower. by which such
breach must be cvred: and (4) that failure to cure such breach on or betore the date aQecified in the notice mey result in
acceleration of the sums secured by this Mortgage. foreclosure by judicial proceeding and e+ale of the Property.The notice ahall
further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the
~on-existence ota deteult or any other detense ot Rorrow•er to acceleration and foreclosure. If the breach ia not cured on or
tx•forr the date specified in the notice. Lender at l.ender's option may declare all of the suma xecured by this Mortgage to be
immediately duc and pa~•able w•ithout furtherdemand and may foreclosethia Mortgage by judicial proceedinq. I.ender shall be
~~ntitled to collect in such proceedin~ all expensec~ of foreclosure. includin~. but not limited to. re~u+onable attorney's feeA. and
<•r~vts ot documentan~ eeidence, abstractc and titl~ reporte.
19. Borrower'e Right to Reinstate. t~iotw~thstandina I.ender's acceleration of the sums secured by this ;NortgaKe, Borruwer ahall ha~ e
the riQht to have any proceedinQs bequn by I.ender tn enform this MortKage discontinued at any time prior to entry of a judKment enforcinR
thia Mort~aQe if_ Ial Borrower pays I.ender all sums w•hich would be then due under this Mortgage, the Note and notes securing Future
Advances, if any. had n~~ acceleration occurred; ~ b- &,rn~w•er cures aU breaches of any other covenanta or agreements of Borrow er contained in
this MortKaKe; Ic) Horruwer pays all reasonable expenr+eA incurred b~y Lender in enforcing the covenanta and agreements ot Borrower
cv~ntained in thie Mort{taRe and in enfominQ I.ender's remedies as provided in paragraph 1R hereo[, including, bat not limited to, reaaonable
attorne~~'s fers; and ~d- Borrower takes such action as [.ender may reasonably require to asaure that the lien of thia Mortgage, l.ender's intrrest
in the Yroperty and Eiorrower'a obligation to pap the aums secured by this Mortgage ahall continue unimpaired. Upon such payment and cure
by I3orrower, this Mortgage ar.d the obligations secured hereby shall remain in ful) force'and effect as if no acreleration had occurred.
`lQ Asaignment ot Rente; Appointment of fteceiver. As additional security hereunder, E3orrower hereby assigne to Lender the rents
of the Yroperty, provided that E3orrower shall, prior to acceleration under paraqraph lA hereof or abandonment of the Property, have the right
tu collect and retain auch rents as they become due and payable.
Upon acceleration under paragraph 18 hereof or abandonment of the Property, I.ender Ahall be entitled to have a receiver appointed by a
court tn enter npon, take poasesaion ot and manage the Property and ta collect the rents of the Property, including lhoae past due: All renta
rnllected by the receiver ahall be applied firat to payment of the a~ste of management of the Pmperty and collection of rents, including, but not
limitcd to, receiver's feea, prrmiuma on receiver's bonde and reasonable attorney e fees, and then to the sums secured by thie Mortgage. The
receiver ahall be 6able to aca~unt only for thoae rents aMually received.
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