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Home My WebLink About0975 ' ~ Unlas l~r ~nd 6orrowc otMrwis~ aqrM in ~rritlnq. anr auch ~pplic~tion o~ proc~ to principal N~all not sxt~nd or po~tpon~ tl~ du~ d~t~ of th~ ~onthly Lat~ll~t• r~tur~d to in p~rpr~pA 1 h~r~of or dwq~ t1~ rount ot sucA i~at~llMnt~. It th~ Prop~rty i~ acauis~d br L~r, ~11 riqht, titl• and int~r~st ot Basro~s in and ta ~ny inwr~ policiN ~nd in ~nd to tt~ peo~wd~ tMreot r«ultirq ha~ dw~~ to tM Prop~rty peior to tM ~al~ ae ~cqui~ition ~M11 pas to lend~r to tM ~ct~nt ot tM aur ~soursd br this ~brt~ i~di~tely prios to ~uch wl~ as ~cqui~itian. S. 8orrorar ~h~ll keep ths Propsrtr in qood npair ~nd ah~ll rot cc¦~it rasts or p~r~it i~p~insnt a~ d~t~rior~- tion ot th~ propertr ~nd ~Mll co¦plr ~dth ths provision~ of ~nr ls~se if this Mortyps is on • le~sehold. It this Mortyp~ is on a unit in • oa~do~iniu~ or • plarw~sd unit dw~lop¦snt, 8orroMSr ~11 psrfor~ ~11 of 8ortoMSr's abliqf- tion~ undsr t1~s dscl~r~tian or oovenants crs~ti~q or qovsrninq ths oondo~infu~ or pl~nnsd unit devslop~snt~ ths by-l~~w ~nd requl~tiana of ths oo~do~inin~ or plan~sd unit dsvslop~snt, ~nd oaatitusnt doou~snt~. If • oorbo~iniu~ a~ pl~~d unit dwslop~snt ridsr is sxeouted by Borra+sr r~d recordsd t gsthsr ~dth this Nortg~gs, ths oovenants ~nd agrewnts of such ridsr ~hall be i~corporated into ~nd ihall wnd and supplwret ths ooverw~ts and aqree~snts.of this Mortq~ye a~ if the ridsr rsr~ a p~rt hsrsof. 6. If Borro+~sr f~ils to psrfor~ the ooveiw~ts ~nd ayree~ents oontained in this Mortqyp, ~ oc if any actio~ or procesdi~q i~ oo~snced whicl~ ~terially affect• Lendsr'a inters~t in ths Propsrty, including, but not li~ited .to, winsnt dorin. insolvency, aods enforca~snt, ar ~rr~ngs~ents or procssdinqs involvinq~a br~krupt or dscedsnt, then Lender at Lendsr's aption~ ~r rke such apps~r~nces, diaburoe euch eu~s r~d ~alcs euch actian ~s is ~scess~ry to prntect - Lender's intsrest. If lender rsquired ~ortg~9s insur~nce M a caMition of rking ths lwn sseured br this Most~s ~ BorroMer ahall psr ths pre~iu~e requirsd to rintain euch insurance in sffect u~til auch tLs as ths require~snt for such inaurancs teninetss in accordance rith 8orrwisr's ~nd LerMsr's Mrittsn egree~snt or appYicable law. Mr aiwu~ts disbursed br 4endsr~pureuant to this p~r~r~ph 6. Mith interest thsrsan~ sh~ll beco~s additiawl indebtsdnsss of BorroMSr'seaured by this Mortgsgs. U~lsss Borror?er and Lendsr agres to othsr tsr~s of psy~snt, euch a~ounts ahall bs psyable upon notics tra~ Lendsr to 8orrower requseting p~y~t thereof, ond ah~ll bssr interest tro~ the date of disburee~ent ~t ths nte parabls fro~ ti~s to ti~s an 6utstandiog princip~l u~dsr the Nots unless p~y~snt of interee! ~t euch rate riould bs oontrary to ~pplicable lar, in-which svent auch a~ounts ahall bear interest et ths highest r~ts psr~issible w~dsr applicable lar. Nothing containsd in this poragraph 6 ahall rsquire Lender to incur anr expense or t~lce any action hereundsr. 7. lender ~y ~ke or ceuse to be ~sde reasonable entriee upon and inspections of the Propsrty, provided thet Lender ahall give BorroMer notics prior to any such inepsction epecifying reasonable cauae thsrefor related to lendsr'e intereet in ths Propsrty. 8. Ths procesds of any arard or clai~ for da~ages, direct or consequential, in corx~ection ~+ith any oonde~nation or other taki~g of the Property, or part thersof, or for conveyance in lieu of conder~atia~, are hereby asaigned and ` ahell be peid to Lendsr. - € ~ . ~ In the event of a total taking of the Propertr, the proceeds ahall be epplied to the au~e sewrsd by this ! Mortgags, rdth the axcesa if an id to 8orrorer. In the eve~t of a , y~ pe partial teking of the Property unlese 8orrorer and Lender otherrise agree in writing there ehall be applied to ~he au~s eeoured by thia Mortgege auch prQportion of the ~ proceeds as is equal to that proportion ~ich the a~wnt of the au~s seoured by thia Mortgage i~ediatelr prior to the ~ dete of tslcin9 bears to the fair ~erket value of the Propertr irediately prior to the date of taking, with the belance of the proceeds ptid to Borrower. ~ If the Property ie abandoned by Borror~er, or if, after rotice by lendar to Borraror that the conde~rwr offsrs ~ to ~ake an a~+ard or settle a clai~ for de~ages~ Borrorer faile to respa~d to Lender within 30 days after the dete such notice ia eailed. lender is authorized to oollect and epply the proceeds, et Lender'e option, either to restoration a~ ; repair of the Property or to the eu~e eecured by this Mortgege. ~ Unleas Lendsr and Borrwror otherMise agree in rriting any euch application of proceeds to principal shall not ~ extend or postpone the due date of the ~onthly installw~ts referrsd to in paragraph 1 hereof or change the a~ount of such inatall~enta. ~ 9. Extension of the ti~e for pay~ant or wdification of arwrtizatian of the au~a secured by thia Nortgege granted by Lender to any auccsseor in intereet of 8orrwror ehall not operate to release, in any pru~er, the liability of ths ; original Borraror ond Borrower'e succceasora in interest. Lender ahall not be required to corence proceedings against ~ such eucceaeor or refuse to extend ti~e for pay~ent or otherrise ~odify aiwrtization of the eu~e eewred by this Mort- gage by rsason of any de~end ~ede by the original Borro?ror and Borrwror'a succesaors io interest. ~ 10. My forbearance by Lender in exerciaing any right or re~edr hereunder, or otherMise afforded by applicable ~ law, shall not be a ~+aiver of or preclude the exercise of any such right or ra~edy. The procure~ent of ineurance or the ~ paysent of taxes or other lie~s or charges by Lender ahall rot ba a waiver of Le~dar's right to eccelerate the rturity f of the indebtednesa secured br this Mortgage. - ~ 11. All re~edies provided in thia Mortgage are dietinct and w~uletive to any other right or re~edy under this ~ Mortgage or offorded br laM or equity, and ~ay be axercised concurrentlr, independently or euccessively. ~ 12. The oovensnte and sgree~e~te herein oonteined ehall bind, and the righta hereunder ehall inure to, the j: respective successore and assigns of Lender and Borrorer. All covenants and agree~enta of Borrorror ehall be 3oint and ' ~ several. The captioos and headings of the patagraphe of thia Mortgege ere for co~venience only and are not to be used ~ to interpret or define the proviaions hsreof. ' 13. Except for any notice requirsd w~dsr applicable laN to be given in arwther ~anner, (s) anr notice to Borro+rer ~ providsd for in this Mortgege ehell be given by ~iling such notice b~ certified ~ail eddressed to BorroMer at the Prop- _ ~ erty Addreaa or at such other sddrses as Borrwror way designate br notice to Lender es provided Mrein, arM (b) anr # notice to Lender ahall bs gfve~ by certified ~ail, return roceipt requested, to Lender'e addreas etated herein or to 3 such other addresa as Lender ~ey dee~gnate by notice to Borraror as provided herein. Arry notice provided for in thie ~ Nortgage ahall be dee~ed to have bsen gfven to Borrorror or Le~der M~an giva~ fn the ~anner deaignated herein. ` 14. Borrorer's breach of enr covenant or egree~ent in this Mortqsgs, including the oovenante to pey rihen due any avsa eecured by thia Mortgoge, ~sy result in accelsratian of the au~s secured by thie Mortgege, foracloeure by judiCial proceading, and sals of the Propsrty. If a defwlt occurs, Lender, at Lender' a optfan, ~r declare all of the su~s secured br thie Martgage to be iredietely dus and pay~ble without further ds~and and ~sy foracloee this Mortgags by 3udicial proceeding. Lender ehall be entitled to oollsct in euch procesding all expenees of forecloeure, including, but not li~ited to, reasanable attornsys' fees, court coats, and coets of docu~tary evidence, abstracta ond title rsports. i . F a S -Z- aceK~4 PacE 974 - ~ ~