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HomeMy WebLinkAbout1862 8. Inspection. L~•t~~1~•r ui:~~• ~n:tk~• or ~;ui~r tu 1,~• ~u:~~l~•.r~~:~~uu:ihl~• ~•ntri~•• u~,uti :u~~l ii~s~~ectiu~~, ui tlu• f'ru~~- ~•rt~'. }?~Y?~~i~led tl~:~t L~•~~~Irr ~l~:tll ~i~•e liorro~~•~~r noli~•~• ~~r~~~r t~~ :?ur ~u~•1~ in~~~~~~•1i~ai >~~~•~•itri~~~; rr:~~una{?I~~ ~•:~us~• tl~erefor rclatc~i to I.en~lcr'~ int~~n~,t in tli~~ !'ro~~~•r1r. 9. Condemnation. 'Che ~?ro~•ee~l~ of .ui~• u~~~:int ur ~•lai~u for ~t:uua~;r~. ~lir~~~•t or ~•on~~~~~u~•ntizil. in connection ~?~ith ai~~• comlc~unutio~~ or otlicr t:ikiuR ~,i tlu~ Pr~,~,~•rt~•. ur ~~:u~~ fh~•r~•ol. ur for ~•nri~~~•~•:u~~•e• i~~ li~~n of ~~~~n~lt•n;n:~- tion, are l~ereb~• :?~~iRii~~~i :~n~i ~6:?t! t~r ~~aid t~~ l.~•~i~l~ r. In thc ct'et~i of .t tot:~l t:~kin~; o! llu~ YroE,t~rt~•. tli~• ~n•ur~•~~~1~ ~h.?li I~~• :i~~~~li~•~1 t~~ tlu• ~uu?: ;~•~•nr~~~l 1?~• thi~ \lort- ~;ug~r. ~~•ith th~ if :u~~•. ~~ai~i tu Bc~rn~~~•c~r. lu 1!u• ~•~•~•nt ~if ~~:iriial t;ikiu{; ~?1 thr 1'ro~u~rt~•, unle:• Rorro~~•cr :~ud I.en~ler othc~r~~•i~~~ :i~rc•~• in ~~~ritine. the?r •li:ill h~• :~{,~~li~•~1 t~? tl~~• ~un~~ ~~•rur~~~( I~~• tlii~ ~Iort~;aRc ~ucli ~iru{~oc- tion ot the j~roeec~l~ i~ equut to tliai ~~ro~?ortio~i ~~•hirl~ ilu~ ;uiw:uit ~~I tiu• •wii~ ~c~~~urc•~! tlii~ ~lort~s~;e imme- ~iiHlely prior tu the ~tat~• r~f iukinR i~i:u~ tu th~• f:iir uiark~•t ~:~l~i~• ~?f tl~~• !'rut,e~rt~• i~n~u~•+li:~t~1~• ~u•i~?r to thc ~lnte of taicing. ctith the ht?Ictt~cc of the j~rocer~l~ ~>aiEl to Rorr~~~~•~~r. If the Yropcrt~• i~ al~:uulane~i 1?~• Rorro~~~er or ii _~ttcr noti~~~• 1~~• L~~n~ler to liurro~~~~•r thak the ~•on~icr~nnor ofier~ to iu:~kc au a~~•ani or ~ettl~ a~•lain~ ior ~1:?roa~;e~. Rorro~~-ec iail~ tu re~t~un~i to Lc~n~lcr ~~~ithii~ :;0 ~lat•~ uf ti?e datc of ~uch uotice. Lendc•r i~ :u~thoriye~l tu ~•ollc~•t :uul :~~~~~h• tli~• ~~r~~~•~~~~~i~ :tt L~~u~ier'~ ~~~~tion ~itii~•r tu rc••tarstior~ or ~~epair of thc Propcrt,r or to tii~• ~i~n~; ~c~•iirr~i i?~• tl~i~ \I~~rt~:i+,~•. . ITntes• I.~•~ider an~i Rorrots~cr otheri~•is~~ ~l~ree i~~ uritin~. :ln~• such :i~iplic~tion of proeeed~ to {uin~•i~~.il ~hall not exteit~! oz• ~>o,t!?onc thc~ ~lue ~late of i!?e ~n~mtl~h• ii~:iallu~~~nh mf~•rr~~~l to i~~ ~~:ii•:~~„r:~~~h• 1:u?d 2 liereoi or : ch:?ngc thc amount oi ~uch i~?stalhncuts. 10. Botrower Not Released. Fxten~io~i oi tl?e tiiu~• ior ~~a~•nit•nt ur n~alific~ation oi an~ortizatioi~ of tl~c .utn~ :c~•urecl I,~~ thic \Iortgage ~r.inte~l h~• Lc~nder to su~• ~u~•c~•.~~or iu inf~~rc•~t oi Borrou•cr <hail not a{~erate to release. in any i~u?nner. ihc linhilih• of the originat 13orro«•er :tn~t itorrot~~~•r'.: ~~u~~•e~:or~ iu inter~~st_ I.en~ler •hail not be ~ rec~uirc~i to ~omnicncc~ ~~ro~eeclin~: :ir8111ct ~~~cli ~ucce::ur ~~r rrfu:~• t~~ extc~ul ti~nc for J,a~•n~ent or ~tl?er«•ise modif~~ :itt~ortizntion of the ::un~. sceure~i b~• tl~i~ \tortrag~ h~- ~r:?~on :?m• ~lt~m:inii ~n:tci~ hr th~ ori~inal Rorro~~•er and }3orro«er's successors in interest. ' 11. Forbearccnce by Lender Not a Waiver. _~u~• torbearsn••~• I~~- I.endrr in exerci~in~ am• ri~ht or remed~ , hereunder. or oti~er~~•isc .ifforcled h~• :~~i~?licahle> l:t~~~. ~hzll uot h~~ ~~-si~•c r ot or ~~recl~uic ti~c cxer~ise of zn~• right _ or renze~h• hereunder. 'I'he ~~rocutrmenf of in~in•;~nce or thc• ~~:~ti•~urnt of tate~ or other }ic+a~: or ~i~ar~e~ h~• I.ender , ~hali ~iot be a a~;ii~'cr of I.ender;~ rigl~i to a~~~ele~:~tc• thc~ n2~turit~• of thc• indebt:~~ine~~ ~ecure~l i?~• this ~iort~u~e. 12. Remedies Cumulative. :il! re~e~~~die~ ~~ro~•idc~~i in thi~ ~Iortt;.tk~~ ;?re ~iistim•t :iiul ~iuni~lnti~•e to nn~• otlier i•ight ur re~uech' under this \Iorig.i~~~ m~ :iito:rie~l I~}- 1:~~~~ ur i~~~uit~•. :uul iu:?~- h~~ c~xer~i~~~d ~~on~urrenth-. inde~end- ~~nth~ or ~u~~ce~.i~•eh . 13. Successors and Assigns Bound: Joint cmd Several Liability; Captions. 'I'i~~~ ~•o~•c~n:int~ and a~reemeiit~ ~ herein contained shall hi~id.:?ml tl~c~ t•i~ht~ I~cr~iu~rice• ~i~nil inur~• io. thi• re~~tiecti~•i• ~ur~e~:o?•, iltl(~ a`iC~}O]]S of T.ender ~ :uid Iiorro~~~er. ~ni~i~~~t t~~ the~ ~~ro~•i~i~?n~ ~~t ~,:u•a~~r:t~r1~ 17 h~re~,~l. .1!, ~~r~r~~nant• :u~~l :?!,re~•nient~ of Rarro~~-er ~hall ~ be joi~it :in~l ~ci•cral. '1'lic ~•:tj>tion~ :in~! li~~sdin~~ ~~t th~~ ~~:?r:i~„r:?!~{~~ ~~1 tl~i~ \(~rt~.t~,e~ :~rc tor ~•cm.•enien~c onl~• 3n~i :~re not to i>e u~ed to int~~rl~ret or ~Icfim~ thc• ~rr~~-i~iou~ h~reoi. 14. Notice. :1n~- noticc to Rorro~~•~~r ~rro~•i~ic~l im• in thi~ \I~~rt~~a~:~• ~1~,?ll 1~~~ ~e~~~•u h~- maitin~; ~uch t~oticc b~- ' ~•ertific~l ~n:iil :uirlre~~c~l ta Rorro~~-rr :?t thr Y~o~~~rt~• _\~l~ire•:< :t:it~~~l l~~~loi~-. ~s~•e~~t ior :in~- noti~•c• require~i i~ncier ~~:ir:tfir.~~~ii 18 h~~reof to l~e ri~•~•n to Borron-~~r in th~~ n~ann~•r ~~r~•~~ri1~~~1. h~- ,s~?i?li<•:th!<~ I:in•. :1n}• notire~ ~»nvirie~l ior in thi~ \tortgagc :liall bc ~ic~cvucYt to h:ii'e hcc~n ~;i~•~?~ tu I~~?n•~~tire•?• ~~-L~•n ri~~~•>> in th~~ iu:inticr ~ie~ifinate~i herein. 4 15. Uniform Mortgage; Goveming Law; Severability. "1'}ii~ im~~i ~~f iuort~;are~ ~~omhinc~~ i~niform co~•ennnts for nntioiial u~e :ind non-uniforn~ ro~•enatit~ ~ritL limiter! ~-:iriation~ L~• il~ri~diction to ~•on~tih~te s uniforni secu- rity instn~ment. co~~eriug real E~ropert~-. 'I'hi~ \IortKa<~e ~hall 1~~ ~rn~•erne~! h~• the la~~• of the jurisdiction in ~vhich tha 1'ropcrt.~• i~ located. In th~~ c~•cnt ti?:tt :?m- firo~•isio~i ~~r ~•laii~~~ ot" thi~ \Iorfr~~c~ o?• thc \otc coriflicts ~ti•ith :ipplicable la«•. ~ucl~ ~onfli~t ~hall ~iot :ifi'ect other t?ro~-icion~ of fi~i; \tort~z~;e or the \ot<~ n~hicl~ can he given effect «-ithouf tii~ ~~onfiictin~; ~~roc•ision, snd t~ thi~ en~l th~• i~rori~ion: oi tl~~• \lort~;a~c :uui the Note are ~leclared to be sevemble. 16. Bonower's Copy. 13orro~~•c~r ~h:itl i?~• im•ui~lu~~l u~~oufonnc~l of thi~ \Iort~~a~c at t.he time of eaecu- tion or after recorciation hcreoi_ 17. Trcnsfer of the Property; Assum~,tion. If :?11 or :?m- ~~:u~t ~~f th~~ Yro~~crtr ur .in inierest therein is sold ; or trai?s[en•rd 1~~- Rorro~r~r ~ritho~it L~~nder'~ ~~rior ~~•ritt~~n ,•~~n~en~. ~~~~•t~ulin~^ ra~ ti~c ~rcation of :i lien or encum- hrancc ~ul~nr~tin;~t~~ tu thi~ ~IortT,?~t~. ~f~! tiu~ ~•r~;~tion ~~f ~mr~•Ir.i~~• iurnu•r ~ecurit~• ir~trr~~t tor hou~ehol~i appli- i .~ncc,. ~ci tr:tn~ic•r L~- ~;c~•i~e. ~ic>ccnt ur hr ~~~u~r.ttir?n uf I:~~~• ~i+~un th~• ~Ir.~th oi :i joint tc•nc~nt ~~r ~~11 thc grt~nt of i :?nt- lea~~'IIOIlI lhif~re~t ~it tlirce~ i•~~ria:: or 1~:.~ ~iot ~•~mtailfiii~: .uz u~~ti~~n r~~ ~~urriri~~•. L~~n~ler m.~~•_ :it Lender'~ option. ~leelare 311 the ~i~u~~ ~ec•i~re~l h~- thi~ ~Iort~~ar~• t~~ I~r inuu~~~ii:it~•l~- ~l,u~ :tn~l ~~.i~-ahl~•. l.e~~tier ~hsll 1?:~~•e ~rai~•ed sueh ~ uptiun to a~•~•elc~ratc if. ~~rioi• th~~ ~:ilc~ ur trr~i:~fc•r. I.c~n~l~•r :i~i~l tLi• ~~c•r~un t~~ n•hom thi~ Yro{rcrt~• i~ to l~c sold or ~ tran~ierre~l reach a~n~cuieut in «-ritin~ tL.st tlu• ~•r~•~ii; ~~i -u~•li ~~~~r-un i~ ~.iti~f:ll'[OI'C ZO I.en~l~~r :ssui that thc interest ; pa}'able ou tlic ~tiur ~~~~~irc~i i~~- tl~i~ \Iortga~;e• ~I~:il~ I~r :it ~u~•I~ r.it~• :i- l.~•n~le~r :li<il! rc~~~ic~t_ If.I.cnder I~as ~~ai~~ed ~ rhe optioi? to :sc•reler:it~~ 1~1•o~•i~lc~l iu tl,i~ ~,aragr.,t,l~ i7 :?n~l ii lirn•r~~~~-rr~~ ~uc~~e::or in intere~t ha~ executed_a ~vrit- ~ te~i as~~ini~,tion agree~uent :t~•~c~~te~i iis ~~-ritin~ h}• l.~•n~le~r. L~•u~i~•r ~h.?il r~~l~~:i~~~ )3orro~cc~r fro~n all ohli~ation~ t~nder ~ ; this \Iortga~c an~i tlu• \ote. ~ If I.ender eserci~es ~ucii v~?tiou t~? ;trceler.~t~•. I.e~ncier ~h:~fl ~:r.iit Iiorro~~•er notice of accelerat.ion in aceordanee ; ' ~~•ith ~~.ir.~gr:i~~t~ 14 her~~of. ~ttr•I? noti~•~• ~fi:?ii ~~ru~=i+l~• :t ~n•ri~Nl ~~f n~it Ir<: tlisn 3(1 el.i~•~ iroin tht~ d~te~ the notice. i~ ~ w:?ile~i «~itliin ~.~hi~•i, Iiorruc~-~•r uu~t• ~~~cr ?1~~~ ~ini~~ ~Ic~lar~•~) ~lu~~. Ii 13~?rru~~•~i• fail~ ti~ 3~a}- •u~•!i ~unr.- ~~rior to the _ ~~xE~iration ~ri ,u~•1~ ~>e~rirxl. L~~n~l~~r ~iu?~-. ~~~ith~n~f inrf{:e~r tu~ii~•f• ~ir ~I~~ni:u~~l un I~~?rr~«•~~r. im-oke• :im• mme~~ie. per- i,iifted h~- ~raragrs}~h 18 hereof. ~Ir\-( \(F~)i:u l'~~~-t:s_i~~r,. li~,?•r~?~~-~~r.i~~~l I.,~u~l~~r 1'u~•th~~r ~•u~-~~i?:tnt an~l aT?•e~~ :i~ t'~~11c?~~-:: , ; 18. Acceleration: Remedies. I~:x~~~•~>> :t~ E~r~n~i~l~~~! in i,:ir:,~r:,~~L 1; l~e~re~~i. u~w~~ Rorr~~~~-~~r'; hr~~.i~•h of an~- r•~n•~~n:int ur u~;rz~~•~tu~nt of Rorro~~-~~r iu rhi~ \I~n~t~.~:i~~~. in~~lu~lin~; tl~~~ ~•~~~-~•n,?nt~ t~~ ~ra}- ~~•ii~~n ~iu~• an}- ~um: •ccttred ` I~~' thi: \Iort~.?~~~. I.en~le•r ~~rior to ac~•~~I~•r,iti~m ~il:il! uiail uatic•~~ t~i Rornrn~~~r a~ ~?ro~•i~1c•~i iu ~~aragra}~h 14 hereol ' :~~ccif~•in~;: ~ 1? th~• ht~~.ic•h: ~•2~ th~• a~•tinn r~•~~uir~•~1 t~? ~•in•~~ ~n~•I~ l,r~~:ic•i~: ~:ii .i ~(:tit~~. n~~t i~•:~ tiian ti~irtt- d<~~•: fro~i~ ~~lE' ~Iatc• th~• nuti~•~~ i~ u~ailc~l t~~ F~~N•nmv•r. I~~- ~clii~•fi <nrli hr~ :u•h nn~-t h~• ~•~~r~•~I: :i~«I i that f.til~~r~• to ~~~r~ such I?rt~ach un or i~~•i~~rc tiu~ ilat~• ~~~e~e•itit•~1 in th~~ n~~ti~~• ~u.i~• rr<ult in :ti•~•+•le•ratiun o1 the• ~i~in~ ~~~~~ure~~i h~• thi: \Iort~agc au~i ~alc uf thc Yro~u•rft-. If tlir hr~•,u•h i~ ~~ot ~•~ir~~~f ~~n ~n• h~•f~ir~• th~~ ~lat~~ yn•~•itic~l in tlu~ noticc. I.cmlcr :tt Len~lcr'~ ; oi>tiut~ ~u~~r ~Ic•i•l:~r~~ :ill ~rf tL~~ ~uiu~ ~~~i~~u•~•~1 h~• thi~ \I~n-tka~:~• to h~~ i~uu~~~~iiatc~h• ~iu~• :tnrl ~r,i~•abl~• ~cithout further ~lenian~i :~n~i ~uai~- foreelu~~• thi~ ~lort~;x~„~' ju~1i~•i:il ~~r~u•~•~~~lin~; 1.~•n~1~~r ~lic~ll I~e cutitl~•~l to ~~o((ect in ~u~1t E~ro~ee~i- ~ ing all c•x~~~•n~c~ uf iom~~l~~:ur~~. in~hulint,;. Imt n~it liu~iti•~i tu. rea~onahl~• attorne•~~'~ fee~. :?nrI ~a~t~ of (IOCi1t11Cilfan' c~~idence. ah~tracts ;?n~i ti11~• r~•~mrt~. ~ so~ 223 ~ i~62