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Home My WebLink About0949 t. ~ . T + 8. In~pectlon. Lender may make or cau~e to be m~de ree~onsble entrie~ upon and inspection~ of the pmperty. provided Wat Lender shall gi•,re Borrower notioe prior to any such in~pection ~pecil~rinQ na~onable cau~e thersfor related Lo Lendei ~ interest in the Property. ~ 9. Co~emaadon. Thn prooeed~ of any award or cleim for dama~e~. dir~ct or con~e4wntial, in connection with any aondemnation ot ' oth~r takin~ of We property. or part thereot. or for conveyance in lien of oondamaation. are hereby awi~nai and s1ia11 be paid to Leader. In the event oi a totel takinQ of the ProPeitY. the proceed~ ahell be applied to the ~um~ secured by this Mort64~e. ~vith th~ esce~s. if any, ~ paid to Borrower. In the event of a partial Lakin~ of the Property. ~u?less Borror~'er and Le~nder othenvi~e aQree in writin~. there ~hsll be ~ applied to the sum~ secured by thia Mort~ag~ such proportioa of the prooeed~ as ie equal b tAet proportion which the aaaonnt of the sum~ ~ eecured by thi~ Mortgage immediately p~ior to W e date of takinQ bear~ to the fair market value of the Property immediately prior to the date of ! taking. with the balana3 of the proceeds paid to Borro~rer. If tbe Ptoparty is abandoned by Borro~?er, or if, atter notice by Leader to Borrower thet the oondesnnor oifers to make an award or ~ettle a daim for damage+, BotroM?er fails to respond to Lender within 30 day~ ait~r the date such notice is mailed, Lender is authorized to oollect and apply the pmoeeda, at Lenda's option. ather to nstoration or rcpais of the property or to Lhe eum~ secured by thi~ Mortgage. Unless Lender and Borrower otherwiee agree in ~rritin8, anY euch application of prac.~eed~ to principal shall not ~tend or pwtpone the due date of the monthly installmenb referred to in paragrsphs 1 and 2 hereof or change the amount of such in~tallment~. 10. Borrower Not Released. E:tension of the time for paym~nt or modification of amortization of the sums secured by this Mortgage granted by Lender to any aucceseor in interest of Borrower ahall not operate to release, in any manner, the liability oi the original Borrower and Borrower's aucceaaore in interest. Lender ahall not ;e ?!~uired to oommence prooeedings sgainat euch successor or refuse to e:tend time ~ for payment or otherwiae modify amortization of the suma secured by this Mortgage by reason of any demand made by the original Borrow~ and Borrowei s aucceeeore in interest. ~ I 1. Forbearsaoe by Lender Noi a R?aiver. Any forbearance by Lender in exercieing any right or remedy hereunder, or otherwise afforded by epplicable law, ehall not be a waiver of or preclude the e:erciae of any euch right or remedy. The procutement of ineurance or the payment of tuee or other liena or chsrgee by I.ender ahall not be e waiver of Lendei e right to aocelerate the maturity of the indebtedneea secured by thie Mortgage. ~ 12. Remediea Cumulative. All semedies provided in this Mortgage are distinct and cumulative to any other right or remedy under thie Mortcage or afforded by law or equity, and msy be e:erciee~l ooncurrendy, independently or euceesaively. 13. 3ucceeeors and Ass~gns Bound; Joint and i3everal Liability; Captione.'!'he covenants and sgreementa herein rnntained shall ~ bind, and the righta hereunder shall inure to, the respective aucceeaore and aasigne of I.ender and Iiorrower, eubject to the provieions of paragraph 17 hereof. All covenante and agreementa of Borrower shalt be joint and eeveral.'14?e captions and headings of the paragraphe of ehis Mortgage are for covenience only and are not to be uaed to interpret or define the proviaione hereof. 14. Notice. Except for any notice required under applicable law to be given in anothLr manner, (a) any notice t.~ 9orrower provided for in thia Mortgage shall be given by mailing euch notice by certified mail addreaeed to Borrower at t,he Property Addreae or at such other addreee ae ~ ' Borrower may designate by notice to Lender as provided herein, and (b) any notice to Lender ehall be given by certified mail, return receipt ~ requeated, to L,ender'a addresa atated herein or to auch other addreae as Lender may deaignate by notice to $orrower ae provided herein. Any notice provided for in this Mortgage ehall be deemed to have been given !o Borrower or Lender when given in the manner deeignated herein. ~ 15. Uniform Mortgage; Governing Law; Severability. Thie form of mortgage eombinea uniform oovenante for nationAl uee and non- uniform rovenanta with limited variatione by juriadiction to conatitute a uniform eecurity instrument oovering real property. This Mortgage ~ ahall be govemed by the law of the jurisdiction in which the Property ia located. In the event that any provieion or clauae of this Mortgage or ~ the Note conflicta with applicable Iaw, such conflict ahall not affect other provieions of thie Mortgage or the Note which can be given ef[ect without the conflicting provision, and to thie end the proviaiona of the Mortgage and the Note are declared to be eeverable. 16. Borrower's Capy. Borrower ahall be furniah=d a confor~ed copy of the Note and of this Morigage at the time of e:ecution or after ~ recordation hereof. 17. Tranefer o! the Property; Aesumption. If all or any part of the Property or an intereat therein ia eold or transferred by $orrower without I.ender'F prior written consent, excluding (a) the creation of a lien or encumbrance aubordinate to thia Mortgage, (b) the creation of a ~ purc~ase money eecurity intereet for household appliances, (c) a tranafer by deviee, deecent or by operation of law upon the death of a jai~t tenant or {d) the grant of any leasehold intereat of three yeara or leae not rnntaining an option to purchaee, Lende: may, at Lender'e option, i declare all the auma secured by thie Mortgege to be immediately due and payable. Lender ahall have waived auch option to accelerate if, prior ~ io the ecie or trensfer, i.ender and the peraon to whom the Property is to be sold or tranaferred reach agreement in writing that the credit of euch ~ peraon is satiafactory to Lender and that the intereat payable on the aume secured by thie Mortgage shall be at euch rate se I.ender ehall ~ request. If Lcnder hae waived the option to accelerate provided in thia paragraph 17, and if Borrower'e aucce~seor in interest has executed a i written r~eaumption agreement accepted in writing by Lender, Lender shall releaae Borrower from all obligationa under thie Mortgage ~.Zd the i Note. #j ; If Lender exercises such option to accelerate, Lender ahall mail Borrower notice of accelerahan in accordance with paragraph 14 hereof q ~ Such notice shall provide a period of not lesa than 30 daya from the date the notice ia mailed within which Borrower may pay the auma declared ~ ; due. If Borrower fails to pay such sums prior to the expiration of such period, Lender may, without further notice or demand on ~rrower, 4 _ invoke any remedies permitted by paragraoh 18 hereof. ~ ~ 18. Acceleration; Remediee. Ezcept as provided in paragraph 17 hereof, upon Borrower'e breach ot any covenant or = agreement of Borrower in thie Mortgage. including the covenants to pay when due any same eecured by thie Mortgage. Lender t prior to aoceleration ahall mail notice to Borrower ae provided in paragraph 14 hereof apecifying: (1) the breach; (2) the actioa = re~uired to cure such breach; (3) a date. not lesa than 30 daye from the date the notice is mailed to Borrower, by which such ~ breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice may result in acceleretion of the eume secured by thie Mortgage. forecloaure ~y judicial proceeding and aale of the Property. The notice shall further inform Borrower of the right to reinetate a8er acceleration and the right to assert in the foreclosure proceeding the non-e:iatence of a defeult or any oLher defenee of Borrower to acceleration and torecloeure. If the breach ia not cured on or before the date epecigied in Lhe notice, Lender at I.ender'e option may deciere all of the eume aecured by thie Mortgage to be i mmediately due and payable without further demand and may forecloae this Mortgage by judicial prceeeding. Lender ehal! be ~ entitled to collect in such proceeding all expenses of forecloaure. including. but not limited to, reasonabie attorney's feee, and ? costs of documentary evidence, abstracts and title reporta. ~ 19. Borrower's Right to Reinetate. Notwithatanding Lender's acceleration of the aume secured by this Mortgage, Borrower ehall have ~ the right to have any proceedinge begun by Lender to enforce thia Mortgage discontinued at any time prior to entry of a judgment enforcing ~ this Mortgage if: (a) Borrower paye Lender all sums which would be then due under thia Mortgage, the Note and notes eecuring Future - k Advances, if any, had no acceleration occurred; (b) $orrower cures all breachea of any other covenants or agreements of Borrower contained in ? s this Mortgage; (c) Borrower pays all reasonable expensee incurred by Lender in enforcing the covenanta and agreementa of Bortov~er ~ ~ contained in this Mortgaqe and in enforcing Lender's remedies aa provided in paragraph 18 hereof, including, but not l~mited to, reasonable attorney's feea; and ldl Borrower takea such action as Lender may reasonably require to assure that the lien of thia Mortgage, Lender'8 intereat in the Property and Borrower's obligation to pay the sums secured by this Mortgage ahall conLinue unimpaired. Upon euch payment snd cure by Bonower, this Mort~aqe and the obligations serured hereby ahail remain in full force and effect ea if no acceleration had cecurred. 20. ~laeignment of Renta; Appointment of Receiver. As additional security hereunder, Borrower hereby aasigna to Lenderthe renta ~ of the Property, provided that L3orrower ahall, prior to acceleration under paragraph 18 hereof or abandonment of the Property, have the right ~ to colleM and retain auch renta 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 poseession 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 pavment of the costs of management of ihe Property and collection of rente, including, but not lirnited to, receiver's feee, premiume on receiver'e bonds and reasonable attomey's fees, and then to the euma secured by this Mortgage. The receiver shail be liable to account only for those rente actually received. ~ ~ c~ODK 476 PlGE ° _ . _ _ . _