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Home My WebLink About10478. la~pectioa. Lende~ mAy make or cai-se W be made reawnable entries upon and inepectiona of the pmperty, pmvided thst Leader ~h~U give Borrower notice prior to any such inspection apecifying reawnable cawe thenfor relsted b Lender'~ interest in ths Proparty. 9. Condemnatioa. '!1-e proceeds oi ar-y awerd or claim for damages, direct or consequential. in connection with any oonde~-ation o~ oth~ taking of the property, or part thereof, or ior conveyance in lieu of condemnation. are hereby awi~ned and ~haU be paid to Le~de~. In the event of a total taking of the Property, the prooeede shall be applied to the sums secured by thi~ Most~aQe. ~vith the szce~s. if any, paid to Borrower. In the event of a partial taking of the Property. unlee~ Borrower and Lender otherwi~s a~res in writin~. thee~s shall bs applied to the eums secured by this Mortgaga snch pmportiott of the proceeds as is equal to that proportion which the amount o~ tbe ~um~ aecured by thie hlortgage i~r_mediately prior to the date of taldng besrs to the fair ma:ket value of ths Ptopetty immediatAly prior to the date of taking, with the balanc~ of the proceeds peud to Borrower. .,. If the Property i~ abandoned by Borrower, or if, aRer notice by Lender to Borrower that the oondemnor ofter~ Lo ma.i~e u- a~vvard or NtW a claim for damage~, Borrower fails to napond to Lender withia 30 days aRer the date ~uch notice i~ mailed, Lendez ia authosited f~o ooll~ct aad apply the prooeeds, at Lender s option, either to restoration oT repair of the pmperty or to the ~um~ ~ecured by thi~ Mort~a~. UnleW Lender and Borrower otherwise agree ia writing. any ~uch application of proceed~ to principal ~hall not eztsnd ot postpon~ t~ dw date of the monthiy installmente referred to iu paragraphs 1 and 2 hereof or chanQe the amouut of ~uch uutallmea4. ' 10. Borrower Not Released. Extension of the time for paymaat or modiC~cation of amortisa;ioa Qf tl~e ~wa~s ~ecured by thi~ Morttap granted by Lender to any eucceesor in intereat of Borrower shall not operate to release. in any maaaer, tlie liebility of the oriQinal Bo~o~ve~ and Borrower'e eucceasors in intereat. Lender shall not be required to oommence proceedings a~ainst such suoce~wr or refusa to eztead time for payment or otherwiae modify amortization of the eums secured by this Mortgage by reaeon of any demand made by the ori~inal Borro~ver and Borrowei ~ succeasora in intezeat. 11. Forbearance by Le~dar Not a Rtaiver. Any forbearance by I.ender in e:ercising any ~ht or nmedy heraundes. or otherw}iis afforded by applicable law, shall not be a waiver of or preclude the e:ercise oi any such right or nmedy. The procuremnent of insnnaoe o~ the payment of ta~ces or other liens or charges by Lender sl-all not be s waivei of Lendbr's right to acoelerate the matusity of the indabtedaen secured by this Mortgage. • 12 Remedles Cumulative. All remediea pmvided in this Mortgege an distinct and cumulstive to any other right or nmedy under thi~ 4t..~t~-4Q~ nr wffnrcl_d hv !ew er E+ouitv. ane~ ~nav ~~erciserl mncunantly, independendy or sua~ewively. • i~. Ru.~:awnrw and Awaigna Bound; Joint aad 3everal Liability: Captions. The oovenant~ and a~reemenLs hsnin oontaiaed s~aU bind. and the righte hereunder ehall inure to, the respective succeesors and assigns of Lender aad Borrovrer,'~ubject to the p~ovidons d paragraph 1? hereoL All covenante and agreemente of Borrower s~sll be joint and several. Tha captions aad headin~ of the para~rs~phs ot this Mortgage are for covenience only and are not to be used to interpret or de5ne the provi~ion~ hereoi 14. Notice. Except for any notice required urider epplicable law to be given in anothez manner, (a) any notice to Borrower pcovided for in thie Mortgege ehall be given by mailing euch notice by certified mail addnseed to $orrower atthe Property Addressor at ~uch otber addre~s ~s Borrower may deaignate by notice to Lender ae provided herein, and (b) any notice to Lender shall be given by oertified mail. retam t~eceipt : equeBted, to Lender's addrees stated herein or to euch other addreee as Lender may deeignate by notice to Bonower a~ provided h~ein. Any noti..~e provided for in thia Mortgage ehall be deemed to have been given to Borrower or Lender when givea in the mannes de~i~nated herein. 15. Uniform Mortgage; Governing I.aw; 3everability. Thie form of mortgage rnmbinee uniform oovenants for national we and nan- uniform covenanta with limited variations by juriediction to oonstitute a uniform security inatrument oovering real property. Thu MortQa~e ehall be governed by tiie law of the juriadiction in which the Property is located. In the event that any pmvisioa or clauie of thi~ Mort~aQe u~ the Note conflicte with applicable law, euch contlict ahall not affect other psovisions of this Mortgage or the Note which can be Qivez- effect without the rnnflicting provieion, and to this end the pmvieione of the Mortgage and the Note are declared to be severable. 16. Borrower'e Copy. Borrower shall be furnished a conformed oopy of the Note and of this Mortga~e at the time of ezecutioa or afcer recordation hereof. 17. Tranafer o[ the Property; Aeeumption. If all or any part of the Property or an intereat therein u sold or transferred by Boren~ without Lender's prior written coneent, excluding ta) the creation of a lien or encumbranoe eubordinate to this MortQa~e. (b) the creatioa o~ a purchese money security intereat for houeehold appliances. (c) a tranafer by devise, descent or by operation of law upon the death of a joint tenant or (d) the grant of any leaeehold intErest of three years or leee not aontsining an option to purchase, Lender may. at Leader'e op~on, declare all the aums aecured by this Mortgage to be immediately due and payable. Lender shall have waived auch optian to aocalerate if. prior t~ the sale or tranefer, I.endez ar.d the person to whom the Hroperty is to be aold or traneferred reach agr~ement in writing that the credit of snch peraon ie eatisfactory to Lender and that the intereet payable on the sume aecured by this Mortgage shall be at such rate as I.ender ahall requeat. If Lender hae waived the option to accelerate provided in thia paragraph 17, and if Borrower s successor in it-tereat has e:ecuted a w-ntten aaeumption aqreement arcepted in writing by I.ender, i.ender shalrrelease Borrower firom all obligations under this Mortgage and the '~ ote. If Lender exercisea a~ch option to accelerate, Lender ehall mail Borrower notice of acceleration in accordance with paragraph 14 2~ueoL Such notice ahall provide a period of not lese than 30 daya from the date the notice ie mailed within which Borrower may pay the sume declered due. If Borruwer fails to pay euch aums prior to the expiration of euch period, I.ender may, without further notice or demand on $orrowe, -nvolce any remediea permitted by paraqrao~. 18 hereof. 18. Acceleration; Remediee. Except as provided in paragraph 1~ hereof, upon Borrower's breach of any ooven~at or agreement of Borrower in thie Hortgage, including the oovenante to pey when due any eums secured by this li~ort~a~e, Leader prior to acceleration ehall mail notice to Borrower as provided in paragraph 14 hereof apecityin~: (1) the breacb; (2)the action required to cure euch breach; (3) a date, not less than 30 daye trom the date the notice Is mailed to Borrower. by w6ich snch breac6 muat be cured; s~d (4) that failure to cure auch breach on or before the date specified in the notioe may reailt in acceleration of the aums secured by this Mortgage, forecloeure by judicial proceeding and sale of the Property. The notice shall further inform Borrower of the right to reinetate after acceleration end the ri~ht to aesert in the foreclosure proceediat the non-ezietence of a dgfault or any other defenee of Borrower to aoceleratIon and forecloeure. It the breach is noi cured on or before the date epeci6ed in the notice, Lender at Lender's option may declare all of the sume aecured by thL Mortga~e to be immediately due and payable without further demand and may forecloee thie Mortgage by judicial proceeding. Lender rhall be entitled to collect in such proceeding ell e:peneee of forecloeure, including, but not limited to, reasonable attorney's fees, and coets o[documentary evidence. abetracta and title reporte. I9. Borrower'e Right to Reinatate. Nvtwilhataiidii,a Ixndei e ac~.eestior, 3f 2ls~ a::ma se:.ured by L,~is A4arLg~s, Bors~a et ahsll havt the right to have any proceedings begun by Lender to enforce thia Mortgage discontinued at any time prior to entry of a jud~meat enforcinQ thie Mortgage if: (a1 Borrower pays Lender ali auma which would be then due under thie Mortgage, ths Note snd noter ~ecurin~ Fhturc Advancee, if any, had no acceleration occurred; (b) Borrower cures all breachea of any other covenanis or agreemente of Borrow~ oontained in this Mortgage; fc) Borrower paye all rnasonable e:pensee incurred by Lender in enforcing the covenants and agrcement~ of Borro~v~ oontained in thie Mortgage and in enforcing Lender'a remedies as provided in paragraph 18 hereof, including, but not limited Lo, reaso~nabls attomey's fees; and id) Borrower takes euch action ae Lender may reasonably require to assure that the lien of thia Mortgage, Leadei ~ intecest in the Property and Borrowei e obiigation to pay the eums secured by thia Mortgaqe ehall continue unimpaired. Upon such pay:aent and cure by Borrower, thie biortgage and the obligatione aecured hereby ahatl remain in full force and effect se if no acceleration hed oocurred. 20. Aesignment of Rents; Appointment of Receiver. Ae additional eecarity hereunder, Borrower hereby aeaigns to I.ender tbe rents of the Property, provided that Borrower ahall, prior to acceleration under paragraph 18 hereof or abandonment of the Property, have the riQht to collect and retain such rents aa 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 oourt to enter upon, take posaeaeion of and manage the Property and to collect the renta of the Property, including those paat due. All rent~ collected by the receiver ahaU be applied firet to payment of the coste of management of the Property and rnllection of rents, induding, bnt nd timited to, receiver e fees, premiums on receivei s bonde and reasonabfe attorney'e fees, and then to the anma secured by this Mortgage.lbe receiver ahall be liable to account only for those renta actually received. z 4 ~ S ~ ,~ "_. -'. .. '_"_- '~""'..:< r~ ~~_a~351 F~Fi045