84002631 - Laserfiche WebLink

Browse

g. 402631 bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect Lender's Interest, Including, but not limited to, disbursement of reasonable attorney's fees and entry upon the Property to make repairs Any amounts disbursed by Lender pursuant to this Paragraph 7, with Interest thereon, shall become additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other teams of payrrx'nt, such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the date of disbursement at the rate of SEVENTEEN Ark? THREE-FOURTHS PERCENT (17.75'0, unless payment of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate permissible under applicable law. Nothing contained in this Paragraph 7 shall require Lender to incur any expense or take any action hereunder. 8. INSPECTION. Lender may make or cause to be made reasonable entries, upon and inspections of the Protxirty, provided that Lender shall give Borrower notice prior to any such Inspection specifying reasonable cause Therefore related to Lender's Interest in the Property. 9. CCNDEM•dATION. The proceeds of any award or claim for damages, direct or consequential, In amectlon with any condemnation ..r other Lakin of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking of the Property, the proceeds shall be applij,,d to the sums secured by this Deed of Trust., with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender otherwise agree in writing, there sKEtl l be applied to the !.ums secured by this Deed of Trust such proportion of the proceeds as Is Niual to that proportion which the amount of the sums secured by this C,eed of Trust irm*diate1y prior to the date of taking bears to the fair market value of the Property Immediately prior to the date of taking, with the balance of the proceeds paid to Borrower. If the Property is abandoned by Borrower, or If, after notice by Lender to Borrower that the condcrrmr offers to make an award or settle A claim for damages, Borrower fails to respond Co Lenderwithln thirty (30) days ?fter the date such notice is mailed, Lender is authorized to collect t+nd apply the proceeds, at Lender's option, either to restoration or repair of the Property or to the suns secured by this Deed of Trust. Un 1 es-5 Lerner arxi Borrower otherwise agree In writing, any six:h application of proceeds to principal shall not extend or postpone the due date of the monthly Installments referred to in Ppragraphs 1 and 2 hereof or change the amount o; such installments, 10. K?RROWCR NOT RELEASED. Extension of the time for paaytrent or nx>d i f i cation of amortization of the sum stK:ured by this Deed of Trust granted by Lender to, any successor in Interest of Borrower -shalt not operate to r lease, in any manner, the liability of the orlg'na,l Borrower and Bomwer's successors In Interest. Lender shall not be required to commerce proceedings against such sarcessor or, refuse to extend tiros for payment or otherwise modify amortization of the sums secured by this Deed of Trust by re ascm of any demand made by the or 1 p 1 r•ia 1 Borrower and Borromtr's successors In Interest. 11. FORBEARANCE BY LEMER NOT A WAIVER. Any forbearance by Lender In exercising any right or remedy hereunder, or, otherwise affordod by applicable law, shall not be ar waiver of or pr"rlude the exercise of Any -such rlllht or remedy. The procurement of Insurance of the Payment of taxes or other )lens or charges by Lender shall not be a waiver of Lender's right to Accelerate the maturity of the indebtedness !secured by this Doed of Trust. 12. REMEDIES CUMULATIVE. All ren*dies provided In this Deed of Trust are d 1 sL i nct and cumulative to any other right or remedy under this Dead (if