HomeMy WebLinkAbout1049 9. Iasp~ction. l.ender n?ay n~akc or cauac tu In• n~t?dc rruauual?1~• ~•u1ri~~• u~,o~i un~l ins~icctious of the Prop-
erty, provided that I.ender slinil give Borrower notice ~~rior to nny •u~l~ m~~~ectic?u •~~ecifyin~ reasonable cause
therefor relsted to I.ender's interest in t.l~c Property.
8. Condomaatios~. The proceeds ot uny nwanl or clAin~ for dnn~ages, direct ~r ronsequential, in connection
with any condemnation or other taking of the Pro}~erty, or ~~art tl~ereof, or tor ~onveyancc in licu oi condemns-
tion, are hereby assigned and shall Ue paid to I.ender.
In the event of a total taking oi the Property, tl~c ~?rocc~iti •I~AII IK• :?~?~?licvl ta ti?c ,uin~ se~ure~i 1?~• t.his Nort-
gage, with the excess, if any, ~?aid to Borrower. In thc cveut of a ~~artiu! ti?kin~ of thc Yro~?ert.~•, unlcss Borrower
:?nd Lender otherwise agrec in ~vriting, therc shu11 !xr aep~?licvl to tli~• •z,~u~ sr~ure~l 1?ti~ this \lort~u~;c such propor-
tion of the proceeds as is equal to that proportion which tl~c umou~t of thc su~n~ securecl by this \Iortga~e imme- ~
diately prior to tl?e date of taking bears to tl~c inir ~narkel ~•ulu~• nf th~• Yro~~ert~~ in~m~~liAteh prior to the date of `
taking, with the balance of the proceeds ~~Ai~i to Borrower.
If the Pmperty is abandonecl by Borrower or if sfter i~otice 1?y L~•uciec to Borro~vcr that the coRdemnor oPferr '
to make an award or settte A etaim For damages, Sorrow•er fails to res~~oml to I.cnder ~vithin 30 days of the date .
of such ~~otice, 1.ender is nuthorised to collect. nnd ap~~ly thc ~,rocr~yi~ .~t I.en~lcr'~ o~~tion cither to restoration or
repair of the Property or to the cums secureci I~y tl~is \1oKgaRe. -
tJnless I,ender and Borrower othenvise agree in writing, any such 9pplication of proceeds to ~irincipni shall
not extend or postpone the due date of the monthly i»stalimcnt~ mferrc~.~ to in ~~ar.i~ra~~hc 1:~nd 2 hereoi or
change the amount of such instaliments.
10. Bortawrer Not R~tsarsod. EXfCRSi011 Of f IIC t1111e ior puvment or malification oi amortization of the sums
secured I~y this Mortgage granted h~~ I.ender to any s~~ecessor in intrrest of Borrower ~l~all not operate to release.
in any manner, the liabilit.v of the original t3orroHCr and Rorro~~•cr'~ succe~ors in interest. I.ender shall not be
required to commence proceedings ugainst ~uch ~uccessor or miu~e to extend tin~e for pa~ ment or othenvise modif~
lmortisation of the sums secured bv this \TortR.ige i~y reason of :un~ ~leman~i made h}• the ori~inxl Borm~ver and
Borrower's successors in interest.
tl. Forbearauce by I.ender Not a Waiver, :1~s~~ forheai.~nec hv I:ender in exercisin~ ~ny ri~ht. or remedy
I~ereender, or otherwise aPforderl h~ applicahl~ la~v. sl~all not he ~r;~i~•ec of or ~~reclu~ic the exer~ice of any right
or remedy hereunder. The procurerocnt of ~n~urance or th~ ~?a~•m~nt oi ta~es or oth~r li~»~ or ~har~es hy T.ender
shall not be a~~aiver of T.ender'~ riRl~t to :u•cclerate thc ~n:?turit~• of the indebtFdnes~ :ec~~m~i h}• this \tortga~e.
12. Remedies Cumulative. All remc~ii~~ ~?ro~~idcyl iu ti?i~ \tort~;.~~;c arc distinct and cwnul:?tivc to An~~ othcr
right or ~~emed~• un~1~r thi• \IortRaRc ~~r :?f~onl~~~i h~• ia~~~ or ~•~~uitt•. :~n~l ~u:t~• {?r ext~trisc~cl c•onc•~irre~tti~•. inde~~end-
ently or succes.~ively.
13. Successors and Assigt~s Bound; Joint and $everal Lictbility; Captions. Thc~ ~~o~~~•n:?nt~ :tn~l ~~green?ent~~
herein containeci shall hind, :~n~i the rights {?ereun~icr ~h.ill ii?ur~~ to. tlu• rc::~?~~cli~•~• <u~c~~~or: un~i assigns of I.ender
ancl I3orm~~•~r. ~nhjcM to thc {~m~•i~ion~ of ~~;n~a~:r:i~~h 1 i her~~of. .~ll ~o~•~~n:int: ..ii~l a~mc~uent~ of Rorro~cer shalt
be joint :tuti ~ercral_ Tltc ~•s~?tion• :w~l he.idinR: uf th~• ~~:ua~ra~?Ir. ui thi~ 11m•t~a~c• :vt~ ior ~•ont•enien~e onlt•_3nd
:?re not~to be used to inter~imt m• ~tefim~ tii~~ ~?r~~•i~ioo~ lu~rr~of
14. Notice. ~n~• noti~e tu liorra~~-e~r ~~r~~~•i~1e~1 fm• i~~ thi~ \l~~r~~;:e~~ -1~ai! hi• ~;ir~•n l,~• n~aili~i~; siu•i~ uotic~• 1?~-
~•ertified t~iail :e~i~lre~se~! Io Rurr~m•~~r :!r thr }'ro~,~~rt~- .1~t~ir~~.. ,t.~t~~~i i~rlu~~ .~•x~•~y~t tor :u~~- n„tic~~ r~•~~uirc~l un~irr ~
~~cu-:?~r:t~?h 18 I~t~rcof t~? f~~• gi~•~•:. tn Rr~rr~~~~v sti th~~ ~u:uu~~•i ~~r~•~~•~ih~~~~ 4,~- :t~~~~ii~•:thir l:t~~. :~m• nntl~•~• ~~rot•i~ie~l ~
ior in thi~ \inrt~a~~• ~h:ill hc• ~lc~~•iu~•~t tt~ ha~•~• h~~~~n ~~~•~•i~ tu li~irr~~u~~•r h~•n ,~~r~•~: n? ti~r nu?unE•r ~I~~~ieiu?t~~~l i?erein.
15. Unitorm Mortgage; Goveming Law: Severc~biGig. "I'hi> t~~rn~ ~~i iw~rtc;:~k~• ~•umf~i•~r. iinitinrm ~•~~~-c•nant~
for nation;~l use am1 non-uniforn~ ro~•en:~nt, .iitl~ liu~ii~~~i ~:u~~st~~m- I,. ~~n~i~~li~tion tn rnn•titt~tc• ii~lifor?n ~ecu-
rity in~trwuent ~overin~; rC11 ~~rc?~~rrtt• "{'lii- \~urtR,i~~~• ~h:ilE ;;~?r<•rn~•~i hr tl~+~ )a~+~ ui thr• i~~ri~~l~~tio?~ in ~~hicl~
tl~e Pro~?erh• i~ lo~ate~l. I~: ~h~~ ~•r,•nt rL:ir :u»~ F~rm~i~inu ~~r ~•la~~~~ ~?i thi~ ~lort~x~~• ~~r rh~~ ~oir ~•c~!iHicts ~vith
:?pnlicablc la~~•, •w~h ~•anflict ~h:.t! not utt~•~~t ~ti~er i~r~~~•i~~t~u~ ~~f tlii- \Iort~;a~r nr th~• \ot~~ :ct~ich cau hc• gi~~en `
~ffect ~~.~out th~• ~•onflicti~~ ~~rw-isioi~..uul t~? tlii~ i•n~1 thc• ~~rnci~iun~ ~if th~~ \lort~;a~:e :ui~l th~• \otc• ~~re ~feclared
to be seve~able. t . :
16. `$orrowei s Copy. B~~rro~~cr ~(ial! f~~• ii~rnislu•~I ~•onforn~r~1 ~•~yn• ~it tht~ ~lort~a~c at the tiri~c of execu-
tion or after recorctation hcrcot
17. Transfer ot the Property; Assumption. ti :il! o~- :in~- ~~.ui ~f tir~~ Yr+q~c•rt~• ~n• an int~m~t therein i~ sold
~>r iransferm~! 1,~- Borro«-~•r ~?-itliunt I.en~ler~~ ~~rior n-ritt~•n ~•oii~ent. ~~~~•huiii~~. ~a~ tl~E• ~•n:?t~~~~: ~if a lien ~r encum-
' hrance ~ul~or~iiuatc~ tc~ tlii~ \I~~rtRaRc. il~~ tls~ ~~r~~:ition nt ~~iu•~•li:?~i• ~u~~m~~• >~~rin-it~- ii~t~•r~•<t f~i• li~~i~<ehi,l~l ap}~li-
~ ance~. ~c~ .t ir.~n~ier 1~~- ~Ie~•is~•. ~I~~:cent ~~r L~• ~~~~er.itiuu uf l:~" u~~un tli~• ~l~~sth ~~i jniut t~•n:un ~~r ~~It th~ ~ranf of
' .~ny leas~•i~okl iut~•i~~t ~,i thrc~• ~•~•.u:~ or Ir:< aiot rontauiu~~; ai~ u~ition t~~ ~n~r~lui~:•. I.~•u~i~•r i~i:i}-. :it I.en~ter'~ option.
~ ~iectare ail ii~e ~wn~ ~e~~~ire~i i~r thi~ ~tort~u~;~• t~r h~ ~nu~ie~iiat~•I~• ~lu~• :~iul ~~:~~•:ihl~~ ),r~,~l~~r ~l,al! I~a~-,• o:ii~•er1 a~ch
uption to :«•~•clc•r:ttc it. ~,rior t~r tl~~~ ..ilc {~r tr:»i>l~r. I.c•n~1~~r .su~l th~• ~,riron to ~~•l?om i{~~. Yro~~~~rt~• i~ ~o hc~ ~old or
transierred rea~~l~ .?gre~~n~ent i?~ ~~•ritiu~ that tlt~• ~•re~lit ~~i ~uc{, ~~trr:un i~ ~xti~i.t~•t~~r}• t~~ L~•rnl~~r ;l1i~I 1IIYI thc~ intere~t
~~ayable on thc •~un~ ~~~~urctii h~- thi~ \IortKu~;e ~l~:ill he :u ~u~•{~ rat~• a~ f.~~u~i~~r :ti:~ll n~~~w•.t. li l.ewl~•r I~a~ ~~-ai~•ed
the option to :u•~•rlerc~t~• ~~ro~~i~lr~l in t)ii~ ~~~ragr<?~~(~ 1 i an~i if IS~rro~cer~• •~t~t~r~:o?' ~t~ inter~•~t iia~ rs~~~•nt~~~~ a ec•rit-
t~~n assun~~~tion :~gree~?ic~nt ae~•e~~re~i i?? ~vritin~ 1~~• Lc•ncfer. t.rn~lrr :I~:i11 r<~lea~~ Borru~ce~r irun~ .e!! o!,li;;atiun~ t~nrler
tliis ~tort~aKc and tlic~ \ate•.
lf I.cnrier ~•xcr~•is~~ ~~u•li ~?l~tion t~? acccler.?t~•. Lcndcr ~L:~l! ~n:til Rorrow~cr ~ioticr of ar~~tt~~•ation iii :?ccordan~c•
~citli ~~:u•.:~ra~~h 1-# here~~f. ~nrli noticr ~h;~ll ~~ro~•i~i~• ~~~~rial uf not Ic:: thun 3(1 ~la~'~ trrnn thc~ ~i:u~~ tii~~ noti~e i• .
~nailed «~itliin ~~~hict~ I3orro~~•cr u~a~• ~?a~• the sunis declarc~l ~iu~•. li(3orrm~•er fail~ t~~ ~~,i~• •u~•li ~uin: ~,rior to th~~
~~x~~irution ~~f ~u~•1~ ~~eria(. 1.c~n~trr iu~~•. ~citlrout fnrther noti~•~• or ~leusai~~i on 13~~rr~~t•cr. ine•nk~~ anr rntnc~li~~ per-
mitted b~• ~rara~;ra~?l~ 18 hereof. ~
' \~,x-1'xit~~x~~ 1'~~~•F:x.1~T~. F{~~1'1'11N'Pr:uul L~~wl~~r fnrtiu•r ~•m•~~n~u~t an~l a~r~~~• a• f~?il~?n-~:
18. Acceleration: Remedies. I•:xce•~?t .is ~~~•o~•ule~~l in ~~:u•:~~;i:~~~h 1; lic~reot. ~i~H?~~ 13urr~?~~~~~~'~ hrc•.ich ~?t :i»~ ~
~~oren:?nt or :~~r~•e•utient oi Borro~~•~•r in thi~ ~1ort~.?~c•. i~~~ia~iin~; tl~~• rorc~nunt~ t~~ ~~:i}~ t~-!u•n ~li~:~ :in}• ~un~• .e~•ur~~)
b~• tt~i: ~lort~s~;~~. I.cnder ~~rior to acrel~r:itio~t tihal! ~t?xii notic~~ to Borro~~~ea• :i: ~,ra~•irlc~~l in ~~;ir:i~;ra~,); 1-1 yicn:~j
~1+ecif~~ir~g: ~ 11 thc bmacl~; ~2) tbc:iC11011 1'M~~IIi(•~t to cur~~.u~•I~ irrcarh: +3~ a ~iat~~. n~,t I~••: t6an thirt~• ~ia}~: ironi
thc ~latc tiic noti~•c i~ mailc~l to Aorro~~•c•i•. I~.- whi~li •uch hrca~li inu~t 1,~ cure~l: aml i4 ~ that t.iilur~~ t~? ~urc •ueh
breach on or bcfor~ the ~I~t~~ ,~~ecific~l in the n~ti~~ iua~• msult in ac~cleration of the ~i~m~ ~ecur~•~i 1?~• thi~ ~iortRa~;~• ~
and sale oi the Yro~?ert}•. If the breach is not cured on or i?efor~~ tl?c ~i~ttc .~~iccifie~l in th~~ notice~. L~~n~ier at I.ender'~
option n~a~• ~Icctare aii of tl~c sumc ,eeureci t~y this \tortga~c to I?~ inu~~cdiateh~ ~l~~e :ui~! ~>a}•ablc~ ~~~ith~iit furtlter ~
dem~nd and n~a~• for~•closc ihis 1lortgsge b~• ju;iicia~l ~~rocecYlin~ L~•n~1er ~li,~ll !a~ c~ntitle~l to ~•oll~~~~t in ~urh Jiroc~~e~l-
ing all cx~~cn~es of foreclosure, including, but not liu~ited to, reasonablc uttorn~~}•': lee•, an~1 ~0:1. of documrntan• ~
evidence, abstracts aml titlc re~~ort.~.
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