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Home My WebLink About04698. I~apection. t.ende~ may make or cause to be made rcaaonableentries upon and inepections of the properiy, provided that i.enderahall ;;?ve E3orrorver notice prior ta any such inepection s~rcifying reauc,nabie cau~:r iherrCur relai~vi tu t.rnder'e intrrest in the Property. 9. Condemnetion. The proceeda of any award or claim for damagea, direct or coneequential, in connection with any oondemnation or ~~ther ti~king of the property, or part thereot, or for conveyance in lieu of oondemnation, are hereby aaaig~ed aad ahall be paid to l.ender. In the event of a total taking of the Pcoperty, the proceeda ahall be applied to the auma eecured by thie Mortgage, with the ~xcesa, if any, ptiid to Borrower. In the eve~t of a partial taking of the Prnperty, unlese Bormwer and [.ender otherwise agree in writing, there ehall be :-pPlied to the suma eecurcrl by thie Mortgage such proportiun of the proceeda as ie equal to that proportio~ which the amount of the aume :~crured by thia Mortgage immediately prior to the date of takinR beara to the fair market value oithe Ptoperty immediately priorto thedate uf cnking, with the balan~ nf the pn-ceeda paid to Borrower. If the Property ie abandoned by Borrower, or if, afte~ notice by I.ender to 13orrowe~ that the condemnoroffers to make an award or settle a ~~luim for damnges, E3orn~wer fails to me{wnd to I.ender within 30 days after the date auch notice ia mailed, l.ender ia authorized tocollect and appiy the proceeds, at I.endei a option, either to ~eetoration or repair of the property or to the eums secured by this Mortgage. Unlese l.ender and Borrower otherwiee agree in writing, any auch applicatiun of proceeds to princripal ehall not extend or poetpone the due ciate of the monthly inetallments referred to in paragraphs 1 and 2 hereof or chanqe the amount of auch inatellmente. l0. Borrower !\ot Released. Extension of the time for paym:nt or modification of amurtizution o[the suma necured by this Mortgage ~;ranted by t.ender to any succesaor in interest uf f3ormwer shal) not opernte to rnlease, in nny mnnner, the liubility of the original I3orrowet :~nd t3urrower's successors in interest. l.ender shal) not be required to oommence pruceedingx aKainst such succesaor or refuae to extend time G,r pnyment or otherwise modifj a~moriizatiun of thr sums secureci by this MortKaKe by reasun uf nny demand mnde by the oriRinal Borrower .uid fiorrnv-er s sucres.wrs in interc~;t. U. Rorbearance by I.ender Not a Waiver. Any forbearance by I.ender in exercieing any right or rnmedy hereunder, or otherwise ;~ ff~,rded by applicable law, ahall not be a waiver of or preclude the exercise of any auch right or remedy. The pmcurement of inaurance or the F~:~yment of taxes or othec liens or chargea by I.ender ahall not be a waiver of l.ender'a right to accelerate the m~turity of the indebtednesa ~tti•ured by thia Mortgage. 12 Remedies Cumulative. All rnmediea provided in this Mortgage are distinct and cumulative to any other right or remedy under this Vorti•age or affarded by law or equity, and may be exercise~l concurrently, independently or succeaaively. 13. Suecesaors and Aseigne Kound; Joint and Several Liability; Captione. The covenanta and agreements herein contained ahall hind, and the righta hereunder shal) inure to, the reapective successors and assigns of l.ender nnd Borrower, subject to the provisions of par~graph 17 hereof. All covenants ~nd agreements of F3orrower shall be joint nnd several. The captions and headings of the paragrapha o! this Mortgage are for covenience unly ~nd are not to be used to interpret or define the provieiona hereof. 14. Notice. Except for tiny notice requin~l under applicable I.iw to 1-e ~;i~•en in another manner, la1 any notim to Borrower provided for in this Mortgage shAl) begiven by mailing such notice by certifird mail aiddressed to Borrower at the I'roperty Addrexa or at such utheraddreas as itnrrower may designate by notice to l.ender as pmvided hemin, and tb- nny notice to l,ender shall be given by certified mail, return receipt nv~uested, to l.ender's address stated herein or to such other address as I.ender may desiKnate b} notice to Borrower as provided hernin. Any notice provided for in this Mortgage shaU be deemed to hnve been given to liormwer or I.ender when given in the manner deaignated herein. 15. Uniform Mortgage; Coverning I.aw; Severability. Thix form of mortgaKe combines uniform covenants for national uae and non- uniform covenan~~ with limited variations by jurisdictiun to constitute a uniform security instrument cuvering real property. This Mortgage ~hull be Koverncd by the law o[ the jurisdiction in which the 1'roperty is Icxatwl. In the event that any pn-vision or clvuxe of this Mortgage or the lote conflicts with applicable law, such conflict shall not affect other pruviaions of thie AlortRage or the Note which can he given effect «ithuut the amQictinR pnn•ision, nnd to this end the provisionx of lhe MortKaKe and the Note are declarrd to be severable. 1 fi. Barmwer'e Copy. };orrower shall be furnished a conformed c~py of the Note and of this Mortgage at the time of execution or aftcr rrcordation hereof. 17. Tranafer of the Property; Axaumption. IC all or any paR of the f'roperty or an interest themin ia sold or transferred by Borrower w ithout I.ender's prior written consent, excludinq Ia) the creation of a lien or encumbrance subordinate to this blortgage, (b) the creation of a purchase money security interesl for household appliances, le) a transfer by devise, d:scent or by operation of law upon the death of a.joint tt~n<int or ld1 the grAnt of any leasehold intemst of three years or less not containing an option to purchase, I.ender may, at [.ender s option, dt~c•lare all the sums secured by this M~~rtgage to F-e immediately due and payable. I.ender ahall have waived such option to accelerate if, prior a~ the sale or transfer, l.ender and the person to whom the Propert~ is to be aold or transferred mach aKreement in writin~ that thecredit of such G,c•rtiun is satisfactun~ to l.ender and that the interest payable un the sums secured by tbis !ltort~aKe shal) be nt such rate as [.ender shall r~Y;uest. If I.rnder has wai~•ed the optiun tu accelerate providr~l in this paraKraph 17, .~nd if I3~~rrower's sucresu~r in interest has executed a ~.ti ritten assumption akreemcnt :-cn•pted in w~rilinK by I.rnder, l.endersh:~ll release tiorrower from .~tl obliKations under this Atortgage and the \~:te. (f I.ender exrrcisrc; such optiun to accelerate, t.ender shall m:-il Ii~~rrower notice of accelrratiun in acccxdanm with paragraph 14 hereof. ~urh noiice shall pmvicle:~ period of not Ic~+s than:i0 d.~ys from the date the nutice is mailyd within v-•hich Rorrr-wer may pat thesums declared ~iur. If BorruNCr fails tu p~y such sumti priur to the expiratiun of :~u~h period, l.ender may. without further notim or demand on Itorrower, ineoke am• remedics permitted by parati~raoh llt herc~~f. IA. Acceleration; Remedies. F.xcept as provided in paragraph 17 hereot. upon Borrower's breach of any covenant or at~reement of E3orrower in this Mortgage. including the covenants to pay when due any eumsaecured by this Mortgage. Lender prior to acceleration shell mail notice to F3orrower as provided in paraqraph 14 hereofspecitying:~l)the breach;(2)theaction required to curE such breach;l3? a date. not lesa than 30 days from the date the notire is mailed to Borrower. by which euch t~reach must be cured; and (4- that tailure to cure such breach on or betore the date epecified in the notice mey result in acreleration of the sumA secured by this Mortgage. foreclosure by judicial prceeeding and saleofthe Property. The notice ehall further inform Borrower of the right to reinstate after acceleration and the right to easert in the foreclosure proceeding the nun-eziatence of a default or any other defense of Rorrower to acceleration and forecloaure. I f the breach ia not cured on or fx•fore the date epecified in the notice. Lender at I.ender'a option may declare all of the suma secured by this Mortgage to be i mmediately due and payable w•ithout further de:mand and may toreclose this Mortgage by judicial proceeding. l.ender shal l be ~~ntitled to collect in such proceeding all expenses of foreclosure. including. but not limited to. reasonable attorney's fees. and ruwts otdocumentary evidence. abstracta and title reports. 19. Borrower'a Right to Reinetate. l~otwithstanding I.ender's accelerationof theaumssecured by this biortgage, [3orrowershall have the right to have any proceedings begun by l.ender to entorce thia MortKaRe discontinued at any time prior to entry of a judgment enforcing this Mortgage if: la) Borrower pays I,ender ail sums which would be then due under this biortgage, the Note and notes aecuring Futurn Advancea, i! any, had no acceleration occurred; lb) &-rrower cures all breachea of any other covenanta or agreements of Borrower contained in this Mortgage; (c) Borrowrr pays all reasunable expensea incurred by Lender in enforcing the covenanta and aqreements of Borrower contained in this MortgaRe and in enforcinR l.ender's remedies as provided in paragraph 19 hereof, including, but not limited to, reasonablP ~~ttarney's feea; and Id) Borrower takes auch action as [,ender may reasonably require to assure that the lien of this hlort~aqe, I.ender'a intereat in the Property and t3orrower's obliKation ta pay the suma secured by this Mortgage shall continue unimpaired. Upon auch payment and cure hy E3orrower, this Mortgage and the obliRationa secured hereby shall remain in tull force and etfect as if no acceleration had occurred. 20. Asaignment of Renta; Appointment ot Receiver. As additional security hereunder, E3orrower hereby asaigna to Lender the rents r~f the P:operty, provided that E3orrower shall, prior to acceleration under paragraph 18 hereof orabandonment of the Property, have theright to collect and retain auch rente as they become due and payable. Upon acceleration under paragraph 18 hereof or abandonment of the Property, Lender ahall be entitled to have a receiver appointed by a court to enter upon, take posaPxsion of and manage the Property and to collect the renta of the Property, including those past due. All renta collected by the receiver ahall be applied first to payment of the rnsts of managementof the Property and collection of renta, including, but not limited to, receiver e fees, prrmiums on receiver's bonds and reasonable attorney's fees, and then to the aums aecured by this Mortgage. The receiver ahall be liable to acoount only for thoae rnnta actually received. ~~~'x 350 t~~~~~ 4~9 ~ ~ _ . _- _ _ ~r _._. - __. - .~