HomeMy WebLinkAbout2655 8. Inspection. Len~ler ~u:?~• ~unk~• ur ~~uu~~~ t~? lu• r.~:ul~• r~•;~~ui~:il~l~• ~~ntri~~• u~,uu uuil iu~l?r~tio~is ui tlsc Yro{?-
rrt.y, Inyi~~i~l~~i tlr?t l.~•n~lrr ~h:ill ~;i~•e li~~rro~~~~~r ~iuti~•~• ~~ri~ir t~? :uir •u~•1? in~l?~•~•tiun •~x•~•ei~•inR r~~a~onublc ~xusc
theretor relatecl to I.en~icr', int~~r~:•t in the Nro~?rrt~•.
9. Condemnation. 'Che ~?rocec~l~ ot :u?~• a~~•anl ur ~•lai~u lor ~t.iuu?~e•. direrl or con;ei~uenti:~l. in conneetia~
~~•ith :u~~• con~lc~~u~ution or othcr takiuR of' th~~ l'ro{?rrt~•. or ~~:u•t tlu•r~•of. ur I~~r ~•um•~~~•au~•~~ in licu oi con~lemnat-
tion, nre hereb~~ :i~~i~ne~~l :u~d ~l~all I?c ~~:iid to l.en~lcr-
Iu t.lte e~•ent of a total takin~ of tl~e Nro~?ert~•. tl?~~ ~nti~i•i•~•~i~ ~I~ull 1~~~ :i~~~~li~•~i to th~~ ~~uu~ :~~~•ure~l thi~ \iort-
;age. ~~•ith the exe~:5s. if :~u~•. ~~~ii~l to Borro~~•er. l~~ th~~ c~•ent of ~~.~rli:il takin~; uf thc Yrop~•rt~•. ~~nlc:~ Rorrower
:~nd I.endcr othcr~~•i~~~ i~~r~K~ in ~vriHn~, thcir •li:~ll h~• :?~?~,li~~~l tu th~~ •uu~: .~~~•~u•~•~1 h~•,thi> ~I~rt~a~c •uch ~~ropor-
tion of the procee~ls us is equal to that ~~ro{?ortioi~ ~~~Li~•h th~• au~oum ui ttie ~um~ ~ecumd 1?~~ thi. \lortK:~ge imme-
~liately prior to thc d:~t~• of takinR he;ir~ to tlic fair w;u~k~~t ~:ilu~• uf tl~t• Pro~icrt~• in~u~~•~ii:itch• ~n•ior to the dt~te of
taking, ~cith the balance uf the ~~rocee~ls ~?ai~l to Rorroa~er.
If the Yropcri.y i, :il>:uuioncYl 1?~~ Rorro~~•er or if :titer ~wti~•~• h~• l.~•nder to Borro~~•er tliat the coudeiuuor ofT'er.-
to mnke :t? :?~~•anl o~• ~ett:L a ~I~?i~u for ~lan~u~e~. I3orro~~•cr i,ii:, t~~ rc•~?o;id to l.c~rnler ~~•itiiin 30 ~In~•s of the d~te -
of ~uch uotice, I.ender i. :iuthorizrd to ~•olle~•t uml :t~?~~h• tlu~ ~~roc~~e~i~ :~t L~~n~ier'~ c?ptio~~ either to re~toration or
repair of the Pmpert.y or to th~~ ~um~ secum~i h~• thi~ \(ort~;:~~;~~.
LTnlea, L~~iider v?cl Borro~~•er othern•ise u~ree i~i ~eriting, an~• such applic:~tiou ot proceeds to princi~?al si~All
not extend or ~~ust~?onc the due ~Inte ot th~~ monthl~• :u•~allnu•nt• ret~rrc~~) to in ~~,?r:i~C:1~1I1~ I:u~d '2 hemof a•
ch:?ngc thc su~ount. ot such instullments. .
10. Bonower Not Relec~sed. P:xtencion ot th~ tim~~ ior ~~a~•~ne~~t or ~i?aiifica?tion of :unortization of thc sums
~ecureci by this \Iortgage ~ranteci I~~• l.ender to an~• ~u~~eec or in intr.re.t of Borro~~•er ~hall not opernte tu release.
in any m:tnne?•, tl~e linhilit~~ ef tl?c ori~in:il ]3orro«-rr :m~! liorro~~•~•r'~ ~uc~ecssor~ in interest. i.ender ~hnil not be
reqiiireci to co~u~neuce ~n-oceeciings ~~ainst such ~ucce.~~or or refu~~~ ta extrn~l timc for pa}•mc~it or otl~en~•ise modif~
:~mortizntion of tlic ~um~ secureci l~~- thi~ \tortfiagc h~• re~son ~f ,~u~• ~ic~uan~l roacl~ h~~ the ori~in:?1 Borro~~•er and
Bormwer's succecsors in interest.
11. Forbearunce by Lender Not a Waiver. .1m• forhen~:nncc~ h~• T.ender in exercisiu~ :tny ri~ht or remedy
hereunder, or ot.liern•ise nPFonied b~~ :~~?~~licable la~~•, ~hall not l,c• ~~•ai~•er of or ~n•eclude the exercise of an}• right
or remed~~ liereiuider_ The ~?rocurement. of in~urance or th~• ~~a}~n~enf of ta~e~ or oth~r lien~ or charges h~ i.ender
shall not bc .i ~~•ni~•er of I.ender'~ right to sccele~:itc• tlic n~aturit~• of the indehtcclncs~ ~ecured h}• this ~iortgage.
12. Remedies Cumulative. :111 remcclie~ ~~ro~•ide~l in ihi~ \Iortga~e arc clistinet :iud c~imulntivc to ~n~• other
right or mmc~l~• unricr thi~ \[ortgagc or ,?ffonle~l h~• la~~- or c~~luit~•. an~l nu?~• hc• cxerci~cxi concurrentl~ , indePend-
ent,h~ or successivel~•.
13. Successors ~d Assigns Bound; Joint and Several Liability; Captions. 'Ch~• ~o~•en~nt~ and agceeme~i~s
herein contained sl~all hin~l, ancl thc ri~hts hercunder ~hall inurc io. thr respectiv~ •ucc•~~~:ors anrl assi~ns oi l.ender
:?nd Rorroi~•cr. ~uhject to tl?c ~iro~•i:ion• ot ~~:u;i~;r:?j:l~ 17 h~re~ot. _~!1 ~o~•~~nant~ uml akrrc~~nents of Rorro~~•er shall
lae joint and ~c~•erzl. The i•aj?tion~ an~i hea~linr of th~• ~r,u:a~;r:?~?h~ uf thi~ \(~rtgz~c~ .irc~ tor ~~am•enience onh• ~nd
are not to be used to intcr~~ret or ~tefinc th~ ~iro~~i~ion~ hercoi.
14. Noiice. :1n~- notice to I3orro~rei• ~~m~•i~ic~l for iii ihi~ \lort~:ci~;r ~I::?ll Ix~ ~~i~-~~n 1~}- ~naili»~ ~ucli notice b~~
~•ertifiecl iusil :«l~lre~sed to Borro«•er ;it th~~ Y~opert~• :1~l~ire~> ~tat~~l 1~~•Ic?~~~, ex~•e~~t for .u~~• noti~e r~ryuired tu~der
~r,u•.~~raph 18 Lereof to 1?e ~i~-c~n to Rorro~~-er in th~• m:u~n~•r ~?re~c~rihe~l hr :?p~~li~•al~Ie• Li~~-• -1n~• notice ~irovi~iecl
tor in thi. \[ortgage ~hall he ~iceme~l to ha~-c he~u tii~-cu tt~ I3~?rro~~•~~r ~~•h~~n ~;i~•cn in tli~ iuanner ~lesi~nate~i herein.
15. Unilorm Mortgage; Governing Law; SeverabiGty. Thi~ form ~~i mort~ur~ ~omhi~m.~ nniior~n co~•enants
for national asc an~i non-uniforn~ co~•enant~ ~~-itl~ liinitcui ~-:triatiom jurisdictim~ to ronstilute a unifonn secu-
rity instrument~ co~~ering real ~~ropertr. 'I'hi~ ~[ortgagc ~h.ill I~c ~,o~-erneci h~• the Iz~.- oi th~ jnrisdiction in ~vhich
the Yro{~crtti~ is loc~teci. In thc e~•ent tLat :im• ~~ro~-i~io» or ~•inu~e of thi~ \tortgage or tlic \'ote conflicts ~vith
appiicable la«•, ~uch conflict ~hall not affect other ~~ro~•i~ion~ of thi~ \Iort~age or thc~ \ote «•hich can be given
effect «•ithout tl~e ~onflictin~; ~?ro~•ision. :?nd to thi~ en~! the ~~ro~-i~ion~ of tl~e \tort~3~e ancl thc \otc nre declared
to be severable.
16. Borrower's Copy. Borro~~•er ~Iialt he furni~l~~~l :i ~•onforme~l ~~o~?~- ot thi~ ~[ortgage at the time of execu-
tion or after reconlation hereof.
17. Transfer of the Property; Assumption. If :~11 or ~u~• ~~:u~t of the Propert~~ or aii interest therein is sold
ortransferred I?~- I3orro~rer ~eithout I.ender'~ ~?rior ~crittcn ~•on~ent. exclnding ~al the ~•reation of a lien or encum-
brance ~uhordinate to thi~ ~tortga~c. (I?i thc~ ~•rc:ttion ~f :i ~mr~li.?,~• mone}- ~ecurit~~ intem~t for household appli-
:ince~, 1cl s t~•an~f~r h~• ~lc~•i~c. rlc~cent or I~~- ol~c•ration of l;n~- i~~~on th~• ~le:rtli of a joint tenant or icfl the ~rant, of
:?u~• Ieaseholci int~~re~t of three ~•ear~ ur lc~~: not ~•~mtaiuin~ ,ui o~~tion to i~iirel:c~~e. I.en~ler ~na}•. :i[ I.ender's option.
~Ieclare all thc suui~ :cc•nred h~- thi~ \Iort~a~c• t~z hr imrucrliatc•h• ~In~~ :in~l ~~s}•:ihle. Lemlcr ~l~~ll hz~~e ~~ai~•ed such
option to :i~~~elen?te if. ~~rior to the ~:?le or tr.u~~t~•r. Len~ler :~~ul tlu~ ~~~~r~on to ~~•ho~?~ the Yro~~ert~~ is to be sold or -
trausferrecl macl?'agrecu?ent in ~criting tliat the ~•rr~lit of ~u~~li ~~e~•~ou i~ ~ati~i,?etor~• to i.endc~r :~ii~l that the interest
~?a~able on the ~unr ~ecurc~l h~- thi~ \lortKu~;~• ~l~:sll lr~~ :it ~,~~I~ rat~~ Len~ler ~hall re~~ticst. Ii I.ender has wai~~ed
the opfiwi tu ac~•eleratc• {?roride~l in thi< ~~zragr:?~~h 17 :ui~t if Rorrm~•er'~ ~ucce~sor in intere~t La~ eseeuteci a writ-
tcn assiuupt.ion agrec~~nent :u•~c~~tctil in ~~-riting I.c•?ui~r. Lr•~ui~~r ~hsll rclcase Borro~~•~r from all ohligation~ under
this ~Iort.gagc an~! thc ~Tote.
If I.euder c~ercises sueli o~?tion t~r :iccelerate, l.ender ~hall ~:~ail Borro~~•er notice of acceleration in accordance
«~it?? ~~;~r,i~;rai~h i~ he^~~of. ~iu~L- noti~•~• ~hc~ll ~~ro~-i~i~• :i ~~c•ri~Nt ~~t not I~~<: th.u~ 30 ~la~-~ from the ~latc~ tl?c notice is
ui.?iled :~ithiu ~~-;~ic•li R,~~ro~~•~~r ur~t• thc~ ~un~~ ~Ie~lar~~~i ~Ini•_ li 13orro~cer fail~ ta ~ni}• ~uch ~t~iu~ prior to the
~~xE~iratiun of ~u~•h ~~eria~. I.rn~ler ~uc1t'. ~~-ith~n~t f~~rtlu~r n~rti~~~• ~~r ~f~•nr.u~~! on 13orro~~-c•i•. im•~kc .tnt• rente~lie: per-
mitted b~• ~?ara~;rapi~ :R iicreof.
~~?x-l'~ttu~;~i l'~~~•t:~.~x~r:. I~~?rr~?~~~~~r un~l I.~•iul~~r t'nrth~~r ~•~?~-~•nant an~l ~~~re~~ 1'ollotr.:
18. Acceleration: Remedies. t~:z~•~~~~t a~ ~~r~r~~i~l~~~I in ~~:ir:~~;r:~~~h l; lu~re~~~f. u~~o~i 13orrcn~~•r'• hmach of an~-
~•u~•~•u:int or a~;reeuu~nt oi Borrrn~~~r in tlii- \I~n-t~;a~;~•. in~•lu~liu~ th~~ ~•u~•enant~ to ~~a~• ~~•I~~n ~luc .tm• ~um: secured
t?y thi: ~lort~;x~;c. I.en~lcr ~?rior to .i~•~~1~•r.tti~m ;h,?ll ~uail n~~ti~i• to $orro~~•cr u~ ~~ro~•idcvl in ~~ara~raph 14 hercof
.~recif~•in~: f 1 1 tlu~ t?rettcL: ~2i the :t~tiun r~~~~zun•~I t~r ~~ur~• •u~•I~ I~msc~h: ~3i a~lat~~. not 1~~:~ than thirt~• ~1a}'~ from
tl?c ~lat~~ th~• notic~~• i~ ~nail~~~l t~? Bon•o~cc•r. 1~~• ~~-lii~~h ~urh In•~~.~~~ii must I?c~ ~ur~~i: :in~t i~~ tliat iailur~ to curc cuch
hrc:ich un or h<•forc th~~ ~1.?t~• ~~~c~~ific~l in th~• n~~ti~~~~ n~:~~- rc•~ult iu ,ic~•clcration of th~~ •uii~• ac~•urc~l b~• thi~ \Iort~.~gc
:u„1 ~.iic oi the Yro~mrt~-_ I1 the hr~~a~•li i~ nut ~•ure•~t un or I?~~tor~• th~~ ~iat~~ ~pccificyl in the notice, I.en~ler at I.ender's
olition nia}• ~le•~lare all of 1?i~• ~unr ~e~•urc~! 1?~- tl~i~ ~tort~;aR~~ to I,~' 1111111(Y~]ateh• ~ine awl ~r.~}-able ~~~itliout further
~Ic~n.u~~i :in~l ~n:?~' foreclo:c~ thi~ ~lortRa~;~' 1~~• ju~1i~•ial ~?ro~•~~c~liu~;. L~~n~ier •hall 1?e entit.lc~1 to collect in •t~cl~ proceecl-
ing .~Il ex~?rn~e~ vi fomclu~urc, in~~lu~lin~;, h~~t not li~uit~~,1 tu. rr:~~on.~hl~~ attorne~•'~ fee~, an~i cost• of documentan•
evidence, ub~tract~ an~l titlc rc~~ort~.
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