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HomeMy WebLinkAbout2959 8. Inspection. L~~t«i~~~~ tu:~~• ~u:tk~~ e?r ~•:~u-~• tu I,~• u~,,~l~• r~•.~~ui~:~l~l~• ~•i?u~i~~~ u~~uu :~n~i in~~~rc•tiui?• oi the }'ro}?- erty, ~,ru~•uleri t1i:~1 I.~•wl~v ~If:ill p;i~•e liurro~~~rr n~?~i~•~• ~~ri~rr t~? :?n~- •u~•li in•~n~rtiuu ~~~c~•ii~•in~; r~;~~onahlc~ rnuse tl~erefor reltttc~cl to I.en~ler'. inlc~r~t in tlu• Nru{~rrt~•_ , 9. Condemnation. 't'hc• ~~rocee~ls oi :?~~:u•~i ur ~•I:?in~ iur ~i:una~c:. ~lirect or ~•on.c~~uential. i~? coni?cction ~~•ith :u~~~ rcnule~~inutioi? ur otlic•r t:ikin~; ui th~• E'ru~~~~rt~~, ur ~~:u~t th~•r~•ol'. ~?r Ic~r ~•c?n~•c~};ui~•~• iu licu of ~•on~lcint~a- tion, are I~ereb~• :?~~i~;n~yi :?mi ~I~:~II i?c ~riicl to L~•n~ic•?•. ln thc et•ent ol' ,i tot:i! t;iki~i~ af tli~• Yco~?~~rt~•. tli~• ~~rorr~•~1~ ~irtll h~~ :i~~~~li~yl tu th~• •uw: •~~i~ure~l 1?~• this \[ort- ~ :;uge. ~?•ith th~~ ex~•r.::, if :ui~•. ~~ai~l to l;orm~~•~~r. ln tiu~ ~~t•~~nt ut ~~:u•ti;~l i:ikink ui the Nro~x~rt~•, unle~~ Borro~~er ;u?d Lcmier otlmr~~•i~~• :i~rr~~ i~~ ~rriliut?. tlici•~• ~h;~ll I~~• :i~~~~li~•~I tu ~li~~ •~uu~ ~~~~•until I~}• thi• \lort~:?Rc •uch propor- tion of thc procced~ is ~~c~ual to th:~t ~?ro~~oction ~elii~•I? th~~ :unuui~t ~?i th~~ ~uur ~c~•urc~l h~• thi~ \[ortg~gc immc- ~linicl~• prior to th~~ ~iat~~ of taki~~g h~~:u•~ tu th~• f:iir ~u:uk~•t r:iiuc• ~?t tlu• !'ru~?t~rir ii~~m~vliatel~• p?riar to tl~c rlatc of c~king. «•itt~ the 1?atnr~re uf th~~ t?i•oceed~ ~~:ii~i tu Rorro~+•er- If thc Yro~~cri~• i~ al,:ui~loned h~~ liorro~~•cr or ii :ifter iioti~•~~ h~- L~•udec to Rorro~~•cr that the condeninor ot~cr to ~u.~ke .u~ :i~~•:?t~l or ~ettle :i ~•lniu~ for ~l~u~sre~. Rorro~~•er tail~ to re~pon~l t~~ l.ender ~~•ithin 30 ~ltt~•~ oi the date of ~ueh notice, I.cncier i~ :uithoriz~Yl to ~•olle~•t ;?n~l ;~~~~~1~• tti~~ ~»•o~~e~~~l~ ;it Lender'~ o~~tion ~~ifh~~r to ~~c~storAtion or repair of the Propert~ or to tiu• ~uut~ ~c~•urcvl f?~• ti~i~ \(oiK~ii~;e. iTnless L~~~ider :iuci Borro~~•er otl~erteise agree in irriti~~g, a~i~• seieh .ippliention of proeeecls to ~?riucipal shttll uot extend o~• ~~ostpone the ~lu~ dZtc oi th~~ n~onthir i~~~tallnu~nt~ rcf~•rrn~l to in ~~ar;~~rn~~h~ 1:uid 2 hereoi' or clringc the :?n~ot~t~t of si~cl~ instathue»ts. . 10. Bonower Not Released. F.xtensio~i of thc tiirn~ ior ~~;i}•iucnt or iuaiiii~•;ttion of :unortizntion of the sum~ ~ccured h}~ this ~[ortg.~gc ~r:~ntect h~• I.enclcr to an~• ~uccessor in int~re~t oi Rorro~~•er ~linli not oper;?te to release. in any n~aiu~er, tlie linl?ilih• of the ori~in;?1 iiorro~rer mut Ror~~+~~~c•r:• ~ucc~e~so>> in interc~t, i.ender ~h~ll not be requimci to rom~ti~ence ~?~•ocec~ling~ ;t~aimt ~tiel~ .uece~~ot• or i•ef~~~~~ fo e~teu~l tin~e ior ~~a~•ment or othetrnise modif}- :tti~ortizntion of ti~e suZi~: ~ec~ired b~• t11i~ \lorts~:i~;~~ h~• rc;~~on ot :~m• ~lem:in~l n~a~l~ h~• the ori~in;tl Rormo~er :tnd S Borro~ver's sitccesson in i~itemst. 11. Forbearance by Lender Not a Waiver. _1~i~• iorliearsuc~~ h~• I.ernier ii~ e~cercisiu~ :~m• right or remed~ hereuncier, or othen~isc afforcie~i hr :ip~~licable la~s, ~l?all not hc• ;i ~~•ai~•cr of or ~~reclude ti~e c~emise of ~n~~ right ur remr~i~~ l~ereunder. Tf~c ~~mcureu~ent of i~~~urauce or th~ ~?~~~ntent of taxes or other lien~ or chnrge~ hti~ I.ender ~halt nof be :t ~~•ui~-er nf 1,ender'~ ri~l~t to a~•cclerate thr mati~rih~ of the indebtc~lne~~ ~ecured h}~ this \Iort~ttge. 12, Remedies Cumulative. :111 reroedie.~ ~~rc»•id~~) in thi~ ~Iort~~~e :ll'E' (I1St1tICt Sill(I C1I111i1~St1\'e to ttn~~ other right or remeci~• iin~ler thi; ~Iortga~;e or :itionle~l 1s~• la~~- ~~r ~~c~i~it~•. :~n~l m:?}• Lc~ ~xemi~ecl eon~•iirrenth•. in~iepenci- ' cntlt• or succes~i~~el~-_ 13. Successors and Assigns $ound; Toint cmd Several Liability; Captions. Thc~ ~•o~-cu:uit~ :ind :~greement~ ~ herein containe~l ~hall bind.:uul thc ri~ht~ heretnuier ~lizil imir~• to. ti~~ respeMil•~• ~~~~c~e~~on :u~d a~signs of ~.ender and liorro~~~cr. ~ui~i~~•f to thc~ ~n~~•i~ian of ~~:u;irra~?h I7 1~~•r~~~i. :111 ~•or~•n:utt~ :u~~l arm~n~cnt~ of Rorm~~er ~hall he joint. :uxi ~c•~•e~.~1. Thc~ ~:i~~tion~ :en~l l~e:ulinr: oi thc~ ~r.u•a~~r:?~~I~, nf thi~ \lortt;a~;e~ am tor ~~om•enienee onh :~nd :ire not to be usc~1 to inter~n•et or ~lefiue tlu~ ~~ro~•ision~ l~e~reof_ ; 14. Notice. ~m- noticc to Borro~~•c•r ~~m~•i~ic~~l for in thi~ \I~irt~;a#;~~ ~L:?II h~~ ~,i~•~~n h~• n~ailinR •u~~h noticc i~~• ' ~•ertified ~nsil :ulrlm~~c~i icr Rorro~~-er ,it th~• Yro~n~rt~• :\~l~lrc~~~ ~t:?t~~~l h~lo~~-, r~~ept tor an~• notice require~i under ~~:u:igr:i~~li 18 h:~rcof ta Lc ~.;i~-~•~i to Borro~~•c~r in the m:unu•i• ~~rc~.c~rihctii i?~• ,i~~~~licahir 1~~~-. :1nt- noticc iiroi~ided for in thi~ \(ortgage ~i~~ll i?c ~lcewc~~l to l~arc~ 1?ecu ~,i~-~n to I3orra~~-~~r u-}u~i~ ~i~-~~~~ in tlie m<wner de~ignatc~l hemin. ~ 15. Uniform Mortgage; Governing Law; Severability. "Chi~ ionn o1 ~uort~;ug~ rombin~~ uniform co~•enant~ ~ for nation:zl »ze a~~d non-uni[on» co~•en.e~~t~ n-itli limitMi ~:u•iatiou~ h~• juri~diction to constitute a uniform secu- rity instnu?~ent c•o~•ering mal J?ro~~eri}•. '1'hi~ \Iort~fl~c ~Iz:?ll I,c !,o~•ernc~i h~ the la~~• of tl~e jurisdict~ion in ~vhici~ tiie Yro~~ert}• i~ located. In tht~ c~•ent tliat au~- ~?ro~•i~iou or clau~c of thi~ ~Iortg~ge or the \otc confticfs ~vith :~p~~licabte la~~•, ~uc{~ ~•ouflict ~hall not ;~ffect other ~~ro~•i:=ion~ of thi~ \[ort~a~e or ti~e \Tote «~~hic1~ caii he given cfi~'ect ~rithouf thc ~~onflicting ~~ro~•ision. :tnd to fhi~ en~l the i?ro~-i~ior~~ of t1u~ ~Iort~a~e :ind thc ~ote are declared to be severnble. - 16. Bonower's Copy. Barro~.~cr ~lia!] hc• iurni~he~i ~•oniormcd co~>~- ot thi~ \[ort~a~c at. the time ot execu- sion or aft.er recorciation hereof. 17. Transfer of the Properiy; Assumption. If :ill or au~- j~art of the Yro~~ert~• or au interest therein is sold ur tr:tnsierred 1?~- 13orro~~~er ~~-ithout I.ender'~ ~?rior ~~-ritten rau~ent. excludiu~; ~a) tl~e crcation of a lien or encum- hrancC ~~~Loi~rlinate to tiii~ \Iort~;u~;c. ~I~i tli~~ ~•rc:ition of a~nuril:i~~• nu~ne~- ~c•c~~rit}- intere~t tior household appli- :ince-. ic? tr:ui~ter h~- ~ie~-i~c. ~ie~~~nt nr h~- o~?c•~:~tian r?f l,;~c uE~~~~~ t1«~ rli~:~tl? of jnint ten3nt or ~~ll tl~e grant of :in~~ lez.~•holcl int~~rc-i of tl~rec ~~e.ir= or le::~ not ~•ontainiur :u~ c?~?ti~m tu ~n~irl~a~c~. Lc~nder ma~•. a1 T.ender'~ option. ~Ieclare all tLe ~iuu~ :c~~ured L.- thi~ \Iorttiar~ tc~ i~c~ i~umr~ti.itel~- ~lu~~ :in~l na~-ai?1~~. Len~ler •h.ill ha~•~ ~~•ai~-i~i such e~ption to a~•~~elerate ii. ~~rior to thc ~:ilc~ or tramt~•r. t.c~n~l~~r :inrl tii~• ~~c~r~on to ~~•l~om the Yro~~ert_~- i~ to be sold or tran~ierm~l r~~arh :i~recment iu ~rriiin~ th:it th~~ ~~r~•~lit ~~f <~tel~ ~~~~c~ou i~ =uti~i:ictor~- t~~ i.cn~icr an~i that tlie interest {~a~•able on the >iuu~ ~ccurc~l h~• ti~i~.~lortrag~• >i~:itl L~~ :~t -n~•!~ rat~~ .i~ L~~n~te~r ~hsl! rc~~ue~t. If I.en~ler ha~ trai~•ed tl~e optiou to :u•~•eter:~te {~~Yn•iclc~cl i~~ tlii~ ~~ar:zRi:i1~l~ 1 i.uu! ii 13r,rro~~-~•r'~ ~uc~•e~~or in intere~i ha~ e~eeute~l a ~vrit- t~~i~ a:~=~u~~?tion agrecine•nt a~•~~e~~tat in n•ritint; I?~- I.~•n~i~r. f.rn~ier ~h:?ll r~~le~a~~~ Borr~?~~•e•r ir~»~~ :ill ohliTation5 under i hi~ \Iortga~c :u?rl th~• \otc. If Len~ler e~erci~e> ~uch ~~~tion t~~ accelerat~~. Leu~l~~r ~Ic?II ~u:~il Rar~o~~-cr notic~• of :teceier3tion it~ aceordanec• ~~iti~ ~~:uu~l;i~~ii 1-1 her~~~~f. ~u~~h noii~~~• ~i~al( ~~r~n~i~i~~ ~~~•riu~l ui u~~t le•:. thu?? 3O ~la~•~ fron~ ili~ ~lat~ ihe notice i~ u?aileci ~cithin ~~~iiirt~ Rorro~~•~~r nia~• ~~a}- tlie ~ttu~• ~le~lar~~~l ~lu~•. li f;~~rr~ncer i.~il~ t~ ~~a~- ~w•li ~mu= prior to tl~e ~•x~~it.tti~n ~if >u~•li ~~~~ria1. L~m~Ie•r i~~ai-. ~ti-ithm~t iurlli~•r n~~ti~•~• ~~r ~1~•in:u~~l ~?n l~~~rr~«•cr. im-ok~~ :u~}• reme~lies per- ~uitted h}• +,aragr.ii~l~ 18 hereoi. \~~x-(~~~f•~?r,~~ ('~?~-F:~.~~~r~. I~~?rru~c~•r:tr«1 L~•n~l~~r i'iirth~~r i•u~-~•n.iut ~ui~l :~,rre~~ i'~~llo~~.~: I8. Acceleration: Remedies. i•:x~~~•~~t a, ~~r~~ci~h~~l in ~~cu:<<,~:~~~h 1: i~e~rcoi. n~~~,a, 13~?rro~~~~~r'• I?r~~c?ch ut :u~~- ru~-i~~i:int or:~r?•i~e•~?i~~ni ~?i Re,rro«-e~r ir1 ~I~i~ \Ir,rt~:?r~~. in~•In~lim~ tlu~ ~•u~-~n:int~ t~~ J~,t~• ~~-lu•n ~lu~• :?m• ~un~~ ~rcttred i?t' thi: Jlorin:~~~•. L~~n~l~•r ~~rioj• tu :u•~•el~~t•ati~n? -1r~11 iu.iil noti~•~~ to li~?rro~~•~~?• :i~ ~~ro~•i~l~~ii iu ~?ara~;ra~?h 1~ hcrcol •~u•~~i[rin~: ~ I i thi• hrt:u•f~: r tiu• :u•tiun m~~uir~~~l tu r:~ri~ •u~•!: ht•e~:e~•L: :i ~lat~~. uut li~<~ tlr.tn ihirt~- ~1:?~-: fl'u~u thc ~lat~~ t{~~~ nuti~•~• i~ i~~:iil~•~{ t~r R~~rru~c~~r. h~- ~~hi~•I~ •n~•l~ I~r~~:i~~l~ ~nn~t 1~~• ~•~n•~•~i: :in~t ~-1? tiiat faih~r~• to cttre ~ucli hrc•,u•h un ~~r I~~~f~~r~~ tiu• ~t:~t~• <~,~~~•ifi~•~i in tiii• iiui i~•~• ~u:~~- r~~~~~it in :i~•,•~•lc~ratir~n oi t!u• •t~+u; .:~•~•nr~~rl h~- i{~i~ ~Inrt~::~g~~ :ui~i ~:?i~• nt tiu• 1'r~?~~~•rt~-. tt tlu• hrr:c~~l~ i~ tn~t ~•~ir~•~1 ~,u ur Le•i~~n• rlu• ~lat~~ ~~,~~,•ifi~•~1 iu tl?~• n~~ti~~~~. L~~n~icr :?t I.c~mlcr': v~?tiu~i ~u:i~- ~le•~•l:ir~• :il! ~?f tl~~• ~~~~u~ ~~~~•in•~~~1 1~~• tl~i~ \lurt~~c~!n• tu h~• i~~?nic~li:tt~•I~• ~iu~~ :?rnl ~~:i~•ahl~• ~~•ith~nrt f~~rthcr ilt•u~:ui~i .tn~l ~u:i~- t~~r~~i~lu~~• tl~i~ \lort!~:t!_~• h~• itnlii•i:ti ~~ru~•i•~•~l~~i~, I.~•n~l~•r .li:t!! h~• ~~ntitli•~{ tu ~ullr~~t in ~~u•I~ ~~rocee~l- in~; all ~•xi~~~n.~•: iorc~l~?:ur~~. in~~lu~lim,. Inn n~~t liiuit~•~{ t~~. r~;~~~mahl~• atturn~•~•'~ f~•~~•. :ur( ~u~:t~ ~~i ~ic~~m»c~nt:u~- ~•~•iilenrc.:~i?<tra~~t~ :ui~l f itl~• rcy~~n•t~. ' . ~ 8GOK2O~ PACE~7~ . ' , ~ ; ~ - d. . , - - r _ z,~-~~.~