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Home My WebLink About0963 . ! • . ~ . 8. Inepectian. [xnder may make or cauae to be made reaeonable entri~ upon and inepertione of the property, provided that Lender 9ha11 ~,~ve Borrowet notice prior to any auch inepection epecifying reaeonable cauee therefor releted to Len~ei e intereet in the Pmperty. 9. Condemnation. The proceede of any award or claim for damages, direct or rnnsequential, in connection with any oondemnation or ~~ther taking of the property, or part thereof, oc fur conveyn;?cY in tien ~f condeinaatiaa, are hereby aseigneci flnd ehall he paid tn I~nder. [n the event of a total taking of the Property, the proceede ehall be applied to the eume eecured by thie Mortgage, with the e:ceas, if any, paid to Borrower. In the event of a partial taking of the Property, unleas E3orrower and Lender otherwiee agree in writing. there ahall be :tpptied to the sums eecured by thie Mortgage auch proportion of the proceede ae ia equal to that propottio~ which the amount of the sume yecured by this Irlortgage immediateiy prior to the date of taking beara b the fair market value of the Property immediately prior to the date of ~r?king, with the balanca of the proceede paid to Borrower. If the Property ie abandoned by Borrower, or if, after notice by Lender to Bonower that the rnndemnor offers to meke an award or eettle a : iaim for damages, Borrower faile to reapond to l.ender within 30 daye after the date such notice is mailed, Lender ie authotized W collect and <<pply the proceeds, at L.endei e option, either to restoretion or repair of the property or to the eume eecured by this Mortgage. Unleae Lender and Borrower otherwise agree in writing, any auch application of pra~eede to principal ahall not extend or poetpone thedue ~iate of the monthly instailmente referred to in paragrapha 1 and 2 hereof or change the amount of auch inetallmenta. 10. Borrower Not Released. Extension of the time for paym~nt or modification of Amortization of the suma aecured by thie Mortgage ~;ranted bv I.ender to any successor in interest of Bormwer shall not operate to relerse, in nny manner, the liability of the original Borrower ~nd Borrower's successors in interest. I.ender shaU nut be required to cummence pn,cc~dinKs ~Kainst auch successoror refuse toextend time t~ ~r payment or otherwise madify amurtizatiu~ of thc~ sums scrurr~l by this bf~rtK.~KN M• r~•ati+~n of .~ny demand made by the original Borrower ,irtd Borrower's successors in interest. t l. Forbearance by Lender Not t? Waiver. Any forbearance by l.ender in exercising any right or remedy hereundet, or otherwise ;t fforded by applicable law, shall not be a waiver of or preclude the exercise of any such riQht or remedy. The procurement of inaurance or the E~:~~~ment of taxrs or other liens or charges by l.ender ahall not be a waiver of I.ender's right to accelerate the maturity of the indebtedneas ured by thia Mortgage. i'l, Remediee Cumulative. All remedies provided in this Mortgage are distinct and cumt:lative to any other right or remedy under this ~t~~rt~-age or afforded by law or equity, nnd may be exerciee~i concurrently, inclependently or succesaively. t 3. Suecesaora and ARaigns Bound; Joint and Several Liability; Captione. The covenanta and agreements herein contained ahall '~~ind, xnd the riKhts hereunder shall inure to, the respective successors and uasigns of I,ender and Rorrower, subject to the provisiona of t~.~r.iK~aph 17 hermt. All c~n•enants and aKreements ~~C f~nower shall be joint and several. The captions and headinRs of the paragraphs of chis Rturtgagc: are for covenience only xnd are not to be used to interpret or define the provisions hereof_ 14. Notice. F.xcYpt for am• nutire required und~r applir?bie I.?w• t~~ tx~ Kiven in anoth ~r m.inner, I a~ an~~ notice tu Rorrower pravided for in t h i, MortKt~Ke sh111 be Riven by mailinK such notice by certifiecl rn.~il addressecl to Bormwer ~it the F'roperty Address or at such other addresa as }i~~rrnwer may desiKnate by notice to [.ender as pmvided herein, and (b? any notice to l.endP: shall be Riven by certified mail, return receipt r~~~uested, to l.ender's address stated herein or to such other address as l.ender may des'iKnate by notice to Borrower ae provided herein. Any ~tice provided for in this Mortga~e shall be deemed tu have been qiven to F~rro~ver or l.ender when given in the manner designated herein. 15. Uniform Mortgage; Governing Law; Severability. This form of mortKage combines uniform covenantrs for nationai use and non- c~;ufurm covenants w-ith iimited variations bv jurisdiction to rnnstiwte a uniform securety instrun~ent cr,vering real property. Thia Mortgage -i:al1 M~ guvern~~ b}• the law of the jurisdictiun in «•hich the F'roperty is locatecl. In tht• e~•rnt tha~ any provision or cl~use of this Mortgage or : i~~ tiote contlic~c with applicable law, such contlict shall not affect other pro~~isions uf ?his MurtKage or the Note which can be given effect i ithout the rnnflictinK pro~ision, and to this end the provisions of the MortQaKe and the Note are declared to i?e severable. ~ I6. Borrower'e Copy. P,orrower sha11 be furnished a contorned capv of the I~ote ard of this Mortgage at the time of execution or after n-r~,rdatinn hereof. - f 1?. Transfer of the Property: Asaumption. If all or any part of ihe I'roperty or an interest therein is sold or transferred bv Borrower ithout I.ender'; prior w~ritten consent, excludinK la) the creation of a iien or encumbrance subordinate to this Mortgage, (b? the creation of a :~.uchase money security interest for household appleances, (c) a transfe- by devise, deacent or by operation of law upon the death of a joint i c~~nant or ld) the grant of any leasehold interest of three years or less not containing an option to purchaee, Lender may, at Lender'a option, ~ if•clare all the sums securea by this MortgaRe to be immediately due and payable. I.ender shali have waived such option to acceierateif, prior the sale or transfer, [.ender and the person to u hom the F'roperty is to be sold or transfetred reach agreement in writing ihat the credit ofauch ' ;~t~r~un is satisfactvn• to I,ender and ihat the interest pa~•able on the sums serured bv this MortgaQe shall be at such rate as Lender shali ~ n•yuest. If Ixnder has waived the uption to accelerate pnwided in this paraKraph 17, and if BorroKei s successor in interest has executed a ritten assumption aRreement accepted in w•ritin~; bp fh•nder, I.endershall release Borrow~er from alt obtiKationa under this MortgaRe and the \~~te. 1 f[,ender exercises such option to accelerate, I,endt~r shall mail Fiorrower notice of acceleration in accordance with paragraph 14 hereot tiurh notice shall pru~~ide peri~xl ~~f not less than :t(? days frum thedute the nutice is mailecl within which Borrower may pay the sums declared !~~t~. if Korrower fails to pa~• such sums pri~~r t~~ the eYpirati~in ~~f such peri~~. I.ender ma}~, w•ithout further notice or demand on fiorrower, ~n~~~~keany remedies permittecl hy paraKraoh 1R here~rf. ~ 18. Acceleration; Remedies. E;xcept as provided in paragraph l7 hereof, upon Borrower's breach of any covenant or ' Kreement of Borrower in this Mortgage. including the covenants to pay when due any eums secured by this Mortgage. Lender _ prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action reyuired to cure such breach: (3) a date. not lesA than 30 daya from the date the tiotice is mailed to Borrower. by which such t,reach must be cured; and (4) that failure to cure auch breach on or before the date apecifed in the notice may result in : acceleratiort of theaums aecured by this Mortgage. foreclosure by judicial proceeding and sele ofthe Property. The noticeahall ' f'urther inform Borrower of the right to reinstate after acceleration and the right to aesert in the foreclosure proceeding the non-eziatence of a default or any other defenee of Borrower to acceleration and forecloeure. If the breach is not cured on or before the date specified in the notice. Lender at Lender's option may declare all of the auma secured by this Mortgage to be i mmediately due and payable without further demand and may foreclose this Mortgageby judicial proceeding. Lender ahall be c~ntitled to collect in such proceeding all expensea of toreclosure, including, but not limited to. reasonable attorney's fees. and ~~c~sts of documentary evidence, abstracts and title reporis. 19. Borrower'e Right to Reinstate. Notwithatanding i.ender's acceleration of thesuma secured by this Mortgage, Rorrowershall have _ the riqht to have any proceedinga bequn by I.ender to enforce thia Mortgaqe discontinued at any time prior to entry of a judgment enforcing thie Mortgage if: (a) Borrower pays [.ender all auma which would be then due under this Mortgage, the Note and notes aecuring Futute Advances, if any, had no acceleration occuned; (b) Borrower cures all breaches of any other covenants or agreementa of Borrowerconts~ined in this Mortgage; (ci F3orrow~er pays ai) reasonable expenses incurred by I.ender in enforcing the eovenants and agreementa of Borrower c~on tained in this Mortgaqe and in enforcing Lender's remedies as provided in paragraph 18 hereof, including, but not limited to, reasonable attorney's fees; and (d) I;orrower takes such action as Lender may reasonably require to ssaure that the lien of this Mortgage, Lender'a intereet i n the Property and Borrower's obligation to pay the s~ma secured by thie Mortgage ehall continue unimpaired. Upon euch payment and cure hy P.orrower, thie Mortgage and the obligations secured hereby ahall remain in full force and effect as if no acceleration had occurred. 20. Aesignment of Rente; Appointment of Receiver. As additional aecurity hereunder, $onower hereby asaigne to Lender the rents _ „f the Property, provided that Borrower ahall, prior to acceleration under paragraph 18 hereof or abandonment of the Property, have the right to collect and retain auch renta ae 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, Lake possesaion of and manage the Yroperty and to collect the renta of the Property, including thoee past due. All rents ; rnllected by the receiver ahall be applied first to payment of the coats of management of the Pmperty and coltection ofrents, including, but not : limited to, receiver's feen, premiuma on receiver'e bonda and reasonable attorney's feea, and then to theauma e~ecured by this Mortgage. The ~ receiver shall be liable ta accou~t only for those rents actually received. 3 ?c~;~ ~37 PaGE ~3 ~ ~ ~ = - z _ ~..y ~ _