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HomeMy WebLinkAbout0933 ' f 8. Inepection. lxnder may make or cauee to be made reaeonable entriea upon and inepections utthe property, provided that l.ender ehall ~;ive Eiorrowe~ notice p~or to any auch inepection epecifying reasonable cause therefor related to I.ender'e i~tereet i~ the Property. 9. Condemnation. The pn?ceede of any award or claim for damagee, direct or coneequential, in connection with any condemnation or ~~the~ taking of the property, or part thereof, or for conveyance in lieu of condemnation, Ate hereby aasigned and ahall be paid to Lender. In the event o[ a total taking of the Property, the proc~eeds ehall be applied to the suma eecured by this Mu~age, with the exceae, if any, pxid to f3orrower. In the event ot a partial tuking of the Pt~nperty, unlee?s I3orrawer and I.ender otherwise a~ee in writing, there ehall be .~pplied to the auma secured by this Mortgage auch proportio~ ot the pra.~eede aa is equal to thAt propurtion which the amount of the aume wecured by this Mortgagc immediately prio~ to the date of taking bears to /he fair market value of the Property immediately prior to thedate of caking, with the balancY of the proceede paid to Rorrower. lf the Property is abandoned by I3orrower, or it after notice by l.ender to f;orrower that the condemnor offers to make an award or eettle a rlxim for damnges, f3orrower fails to respond to l.ender within :i0 duys after the date euch notice ie mailed, I.e~der ie authorized to colicrt and .?pply the proceeda, at l.ender's option, either to restors?tion or repuir of the property or to the auma secured by thia Mortgage. lJnlesa l.ender and E3orrower otherwiise agree in writing, nny auch appiication otproceeda to principal shaU not extend or poatpone thedue ciate of the monthly inatallmenta rlferred tu in paragrapha 1 und 2 hereof or change the amuunt of auch inatallmente. 10. Borrower Not Released. Extension of the time fo~ paym~nt or mo~ification of nmurliz~tion of the Rums xcrured by thie Mortgage ~;ranted by I,ender tn any sucressor in intereat of l3orrower shnll not operate to release, in any manner, the liability of the origireal Borrower .ind &~rruwer's successors in interest. I.ender shall not be requirpd to cummence prorerdinKs aigainst such succesaor or refuse to extend time f~~r pa~yment or uthenvise modifv .imortization of the sums secumd by this MurtKake by rcuw~n uf any drma?nd made by theoriginall3orrower :~nd fi~~rruw~er's Ku~rc:~?rs in interrst. 11. Morbearance by Lender Not a Waiver, Any forbearance by l.ender in exemiaing any right or remedy hereunder, nr otherwiae iffi~rded by applicable law, shall nat be a w~aiver of or preciude the exercie~e of any auch right or rem~dy. 7'he prceurement ~f insuranre'or the pa~•ment of t~-ces or other liena or chargex by l.ender shall not be a waiver of l:ender'a right to accelerate the maturity ot the indebtedneas ~~~c ured by this Mortgage. 1'l. Nemedies Cumulative. All mmedies provided in ttsis ~lortgage are distinct and cum?:Iative tu any other right or remedy under this ~torti~aKe or nfforded by Inw or equity, And may be exercixe~i concurmntly, independently or successively. 1:;. Succeasor~ and Asaigns Bound; Joint and Several Liability; Captione. The covenanta and agreements herein cwntained shall I~l~fli ..II ~1.o I~IO hP}O~;~yln} O{~gII 1 ro~!~ Il~~ ~ ?~~rn •~M ~~.r OTIi O I~F I 4T.~n ..d Q.. •~L~~ ? ~a^ ~~iC v~IOS:, , ~ , .°.r..~..... .....°.:A.^..°. . , j~..~ ~ Y~r.. paraKraph 1'~ henv?f. All covenants and aKreementa of E3orrower ahall be joir.t and severai. 7'he captinne and headinge of the paragraphe uC ' this Mortgnge ar~ :or covenience only and nre not to be used to interpret or define the proviai~ns hereof I~l. Notice. F.xcept for an~• nutice reyuin~d under .ip{:licablr I:iw• to be Kiven in another manner, (a? any notice to Fiorrower pruvided for in this btortguge shull begiven bv mailing such notice by certified mnil nddressecl tu I3nrrower at the I'mperty Address or at such other addresa xa Itorruwer muy drsiKnate by notice to I.ender as provided hereiu, ~nd f b) an~ notirn to I.ender shail be gi~en by certif ed maii, return rece~pt nquested, to t.cnder's .~ddrrss statcd herein or to such other address as t.ender may designate by notice to Borrower ax provided herein. Any ^::ticc grc,~•iacd fo: in thix :11or•.~akc shal: t~c dcemed to h~s~r ~er. gi~en tn B.zrrr3u~:es ar l.cndrr uher. g:~ er. :r. ihz manr.er 3~signated her~in. ~ 1~. Uniform Mortgage; Governing Law: Severability.7"nis form of mort~agecombines unifurm a?venantx f~r national useand non- I izniform cuvenants w-ith limited variations by jurisdiction to constitutr a uniCorm security instrument cuverin~ renl property. This Mortgage i ~hall be Koverned by the lav? of the junsdictiun in vvhich the F'toperty is located. In the e~•ent that any prut-ision or clxuse of this 111urtgage or t hr \ote cuntlicts with applicable law, such c~.n0ict shall nat affect other pmvisions of this MoriRage or the I~ate which can be Riven effect ~ ~.~ith~lut t!~e n,nfiictinK provisiun, and to this end the pro~~isions of the 61ortKaKe and the Nute are declared to tx~ xeeerable. I 16. l3orrov~ et's Copy. E3orrow•er shall be furnished a confot~ned copy of the Note and of this ~1lortgage at the time of execution ur after rt~c•ordation hereof. 17. TrRnsfer of the Property: Assumption. If all or any paR of thP Yroperty or an interest therein is sold or transferred by f3orrower i ~~~rthout I.endrr'G priur written consent, excluding :11 the ematiun of a lien or encumbranc~ sulx~rdinate tu this Mort~age, lb? the creati~n of a +`r~~urch<.ce money security interest for household appliances, /cl a trans[er by devise, d:-scent or by operation of law upon the death of a joint I t~•nant nr (dl thP Rrant of any l~rasehold intercwt of three years or lesa not containinK an option to purchase, I.ender may, at I.ender's optiun, ~ dtti lare al) tbe sums secured b~ this Mort~aRe to be immediately due and payable. l.ender ehall ha~~e waived such option to accelerate if, prior I t~ ~ the sa•.¢ or transfer, I.ender and the person to whom the F'roperty is to be sold or transferrcd reach aKreement in writing that the creditof such I ~ p~•rson is s~tisfacton• tc~ I.rndc•r and that the intereut payablr on the sums securcd b~~ this MoriKxKr shall t~e ~it auch rate as Ixnder shall ~ rt~ucst. lf I.ender has w•aived th~ uptiun tu accelcrate prm•ided in this par.iKr.iph 17, and if E~~rrower's successor in intere~st has executed a • w rittc•n a~sumpti~~n a~,~s~~c•ment :~c~vptrci in w~riiiny~ bt• I.Fnder, tA~ndrrsh.ill rt~le.~sr Rurruw~er from a11 ubliKstiuns underthis MurtgaKe and the ~ ute. If I.PII(IP~ PXPr('ICYti till~•Fl l/J1f1~~?1 ,l('f`/~If~~:lf(•. ~.P?I~PT c~!_tII !Ili11I Fs~tr?/~w~~+~ ttt~ttt~s~ n}~ gr~wlPrgf i~~n :arrn?r~3nrs. yirit}1 g:rf'.'_~,?3~)~: ~ ~ t:C:~~. ~uch noticc~ shall provide a prriud ~~f not li~s than :il?da~•s frum the•date the notice is mailecl w•ithin which Fir~rrnw•er may pa~~ thesums declared ~lue. I( Rurruwer fails to pa>• sucl. sums prior tu the expiration of such pernud. l.ender ma~~, w•ithuut furiher nuticr or demand vn 13~~rruwer. in~•~~ke any reme~dies Frrmitli~ by paraKraoh Ik herc~~f. 18. Acceleration; Remedies. !:xcept as providrd in paragraph 17 hereot. upon Borrower's breach of any covenant or a~reement of Borrow er in this Mortgage. including the covenanta to pay when due any eums ~ecured by this Nortg~ge. Lender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereofepecifying: (11 the breach; (Z) the action re~uired to cure such breach; (3) a date. not lexs than 30 days from the date the notice ie mailed to I3orrower. by which euch j hreach must be cured; and 141 that failure t,> cure such breach on or betore the date specified in the notice roay reault in ; accrleration of the sums aecured by this Mortgage. ioreclosurc by judicial proceeding and sale of the Properiy. The notice ahal) further inform Borrower otthe right to reinstate aRer acceleration and the right to esaert in the foreclosure proceedingthe nun-e:istence of a default or any other defense of Rorrower to acceleration and forecloaure. It the breaeh ia not cured on or I~c•fore lhe date apecificd in the notice. Lender at Lender's o tion ma declare all of the sums Recured b this P Y Mort a e to br y ~s g ~ immediatcl~• due and pa~•able without furtherde~riand and may foreclose this Mortgage by judicial procec~ding. I.ender shall ue t~ntitled to c~llect in such proceeding all expcnses of foreclosure, including. but not limited to, reaxonable attorney's fees, and ~•uvts of documentary evidence. abstracts and title reports. ' 19. E3orrower's Right to Reinatate. NotwithstandinK I.ender's acceleration of the sums secured bv this Mortgaqe. Fiorrower shall havr the right tc? have any procerdinKs l,egun by l.ender to enfurce this Murt~taKe diacontinueci at any time prior to entry of a judgment rnforcing = this Mortgage if: la) Rorrower pay~s I.ender all sums which would be then due under this Mortgage, the Note and notes securing Future i Advances, if anS , had no acceleration occurred; Ib) I3orrower cures al) breaches of any other covenanta or agreements of fiorruwer cuntained in this l1SortQaQe; Icl E3orrower pays all reaeonable eapenses incurred by l.ender in entorcing the covenante and aKreements of F3urrower eY~ntained in this MortgaKe and in enforcing l.ender's remedies as pro~~ided in paragraph 1R hereof, including, but not limitpd to, reasonable ~ attomey's tees; and id? Born,wer takes auch actiun as I.ender may reasunably require tn aeisure that the lien of this Mort~age, I.endei s intereat in the Property and E3ormwer's obliKation to pa> the aums secured by this Mort~age shall continue unimpaired. Upon such payment and cure t~v Korrower, this MortgaKe and the obligationa secured hereby shall remain in full force and effect as if no acceleration had occurrerl. 20. Assiqnment of Renta; Appoiniment ot Receiver. As additiunal security hereunder, E3orrower hereby asaigns to l.ender the renta uf the Property, provided that I~rn~wer shall, prior tu acceleratiun under paragraph IShereuforabandonment of the Properly,have lheright to coller3 and retain such rents aa they become due and payable. l'pon acceleration under paraRraph 18 hereof or abandonment of the Property. Lender ahall be entitled to have a receiver appointed by a ~ourt to enter upon, take pos.geasion of and manage the Prnperty and to coUect the rents of the Pr~perty, including thoee paet due. All rnnts rnllected by the receiver ahall be applied fimt to payment of the oosts of managementof the Property and collection of rente, including, but not limited to, receiver'a feea, premiums on receiver's bonda and reasonable attorney's feea, and then to the suma secured by thie Mortgage. The receiver ehall be liable to acoount only for those rents actually received. ' I 1: r~ ~ P!Uf :J,,~ , p~; - . . . _ ~ ~ n-- - _ . . . . .