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HomeMy WebLinkAbout0840 . . , ~ ~ i + ~ . • 8. Inspection. I.~•n~ler ~n:~~• ~uiiXe ur ~•:ur~~ to IH~ ~??:t~l~• n~;~~uiu?1~1~• ~•nh•ir~ u~~~?n :u?~1 iu~~~rr.tia~s ot thc l'ro~?- erty, ~~r~~ri~ItKi th:?t L~~n~l+~r -1~~I1 '~,i\•~~ Ij~~rr~~~~•~~?• nu~i~~~ ~~rio?• to ;t~~r ~~tch ina{?~ctioi~ ,{~c~ifvinK teasot?able ~•au~~~ therefor relntcd to I.i~nct~r'~ inter~~t i~ tiu; l'ro~~rrty. 9. Condemnation. 'l'h~~ ~~ru~•,r~~l: oi :iny i~~~•ar~~ or ~•lui~u ior ~1u?na~;es. ~lirr~t or consc~~ncntial. in coi~ucction ~~•ith ;u~~• condcu~nutiou ur other takin{; n~the !'ro~n~rt~•. or ~,art tliercui. or fur c•on~~~•~•anri, in licu of conden~ua- . tion, nre herel,~~ us~ic;m•~t .~m! ~lu~ll I,e ~~sid ol~rnler. In thc c~•ent c~f a tot~il tuki~ie of tlie Yro~?crf~'. tli~~ ~?~~~~~•~•~,i> ~l~;~ll h~• ut~~~li~~~l ~r~ tl~~• ~n~u~ .c~~ur~ ~i i?~• thi• \tott- K:ig~. ~~•itit Uu~ exce::. it :iu~•. ~~.~i~i tu R~~rrn~~•rr. In ih~• e~•~•ul ot :i ~~:u•ti:tl titki~~~; ui the• I'ro~n•rt~•. unle~~ I;~~rroa~er ' :u~d I.cnder utl~er~~~i~~~ :<<,rr+• iu ~~•ritin!~. tl~cm •lu~ll h~• s~?~~lic~t ~o llu~ ~~?u?~ ~~•+•ur~yl hr tl?i~ ~lort~:i;;i• such ~~ropor- tion of tlic proc~•c~h :i~ i~ r~~uul tu ~4~:it ~~ro~?o~•tion ~~~lii~•h'tl~~• :w~uuu~ ni thc •~uu• •ecum~l h~• tl~is \(ort~sgc immc- ~liatel~~ j?rior to il~~~ ~I:tt~~ +?f t,iktm, h~•:u~ tu r6~~ i:iir m~u•k~~t ~:tl~u~ oi th~• 1'ru~?ert~• imnutili.~tcl~• ~~rior to the ~Inte oi . tuking, witlithc h:~lan~•r ~~i tli~~ ~?ru~•~~~~,L ~~:?i~l t~~ Iiorru~~•~•r. If tl~e t'ro~~ert~• i~ :ii~:ii~~lun~•~i h~~ R~rroti~•c~r or iC :iiter uoiirc h~• l,~;i~dc~~ to Bormt+~e?• tl~nt the ron~temnor ofier.= to makc an ;?~~•arii or ~~~ttlc :i ~•luiiu i~~r ~lan~:?~;r~. l;orro~~•cr inil~ t~~ m•~~ond to I.c•«dcr ~~•ithin 30 +!,?~'s of the date of •ttcl~ noti~•e. Len~l~r i~ :uNhnrii~~~l Iu ~•~~ll~~~•t :uul :y?~~I~• th~~ ~n•~~~•~•c•~1~ :it L~~n~l~r'• ~~~~iion citlier to irstoiY?tion or repair of tlie Propert•}~ or to tL~~ .i~iis~ ~~~~•~~rr~t I?~• tlu~ ~~ort~;~;:c. . i3nlc:• Lc~ndcr :u~d Rorr~.~~r~~r ~~ti~rr~~•i~~~':?~rcc iu ~riting. ~n~' slich application of procced~ tu priuci~,ul shall not extend m~ ~?ost~~ou~• tlu~ ~lu~• ~iut~~ tL~~ mont!?h' i~~~taliment~ refern~l to ir. ~~ara~ra~?{~~ 1 ancl 2 hereof or ch~ngc tlzc :in~oun~ oi ~uch in=t:ilitne~~i~- 10. Bonower Nol Released, t~:xt~ <<=i~;u ~~i th~• tiiu~• tor ~~a~'~ucnt or nialiii~•:itio~i ~~i ;uuortization of the su~us ~c~•ured f~~~ ihi~ \iorirafi~• eranir~! i~~• I.~•u~i~~r to :u,~• ~u~•~~cssor in int~~rc~t of Borro~~•cr shall uM. opc~Yite to mlcasc. iu :im~ u~auu~r. th~~ liahilit~- oi tiu• ur:~i,~:~l l;m~ro~~~rr :url Rurro~c~~r'~ ~uce•e~~o~:: in interect. Len~ler ~hait not be rc~~~~irc~l to ~•oninu•nc~~ j??-~?c•~~~~lin~;~ :i~,:iin~t ~u~~l~ •,trrc.~ur ~n• r~~iu~~~ ti~ ~~tcn~l tin?t~ f~~r ~~:?}•ntcnt ~?r otllrnrisc ~ntxlif~ :~mortiaation oi th~~ ~,~in> :e~•nmd h~• r~;:~ \Ic?~•t~a~,~~ h~• rca«~n ~f :u~~~ ,tenruu) :n:ulc• 1?~• tlu~ ori~;inal Borm~ver and Rorto~~er's successo~~ in inieresi. 11. Forbearance by Lender Not a Waiver. :~nr fonc~:u~:umc 1~~• 1 ~n~lrr iii c~er~isi~~~ ~m• ri~ht or remed}• tiereun~le?•. or other~~~i~r .?tf~»Yi~~~i l~.- :~~~~~lir•ahi~• I:?~c-. ~h:?ll »ot i~r :t «-ai~•~~i• oi or ~~reclu~le th~ exerci~e o~ an}• right ~~r rc~nc~1~• liercun~ier. 1'I~c ~~?-u~•~~re;urn! ~f ~u~~u:iticc or the ~~.?~•iucnt of t:~xc. or oth~r lic~n~ or ~•harges h~ I,ender ~htill not. 1~~~ :i ~~•:~i~•er ~,f l.e~«i~~~~~ ri~,i,t t~~ :u•,•~~ir~:ite tlu~ ~nati~rit~• of tii~ irnlebtecln~:~ ~ecureci I,~• thic \'[ort~age. 12. Remedies Cumulaiive. :111 rcmc~lic~ ~+ro: i~l~~l in thi~ \Iort~a~c are ~iistinct s~u~l ~•itimul:tti~~e to nnv other right or mn~e~lr iiml~~r titii~ ~(~~rt~,;<<~~. ~~r :?ti~~r~i~•~1 h~• 1:~~~~ m• ~Y»>it~-. :u~~! nia~- h~• cxerci~c~l ~om•~~rrentl~•. io~ienend- ~~ntlr or succec~i~•eh•. 13. Successors and Assigns Bound: Ioint and Several Liability; Capiions. 'T1u~ ~•o~•enant~ am! uRrcement= herein ~ont:iinerl ~hall hiiul.:in~l th~~ ri~~;ht~ hcre~uui~•r ~hall inurc~ ta. th~~ rec~?ccti~-r ~nc~~•~~crr.- anci assigc1~,.Qi.T.ender ;u~~l liorr~~~~~•r. ~~~Ljet•i i~~ tli~• ~~r~?~ i~i~~i~, ui Z,:~r:?~,ra~~l~ I i?u~r,•~~C .111 r~n-~•n:int~ :~u~l :~~~rc~c•:n~nt~ of Rorrot~•cr ~hall I~c ioini.:in~l ~~•~•~~~:~1. '1'i~~• ~•::t~ti~u. :in~l }~~;ulin~~~ of ilic~ ~r,~i:,~~~:~~~li~ ~~i thi~ \lort;~:~,~~ :ir~ t~~r ~•~m•~nicnc~ onh• an~i :?re not~ to he used to intrr~~rc; u~• il~•fin~• il~~• i,rm•i~i~m- h~•rc•~1. 14. Notice. _~~i~• noii~•~• t~~ 1~~:•r~~«•~~r ~~r~~i i~le~i i~n• i?i tl~i~ ~lori}:u~~~~ ~Ir..ll i?c ~i~•~•?~ i?~~ ntailiu~, •n~{i noticc hr ~•~vtiticcl ~~r~ii :~~I~lre~~c~~l to I3~~rru~~•~~r at !hc~ I'ru~~~~rt~• .~~i~h•~•=• •t:tt.~~i }~clo~r_ ~•x~~~•~~t !or :11i\' 110f1CP requircrl ~uider E,:u•:i~;r:t~?h 1R hc~~rof t~~ 1~~~ ~ri~•ru tu It~~rr„~.-~•r :n th~• ~n.?uu~•r ~~re~~•ril~cvi i~~• :t~~~?ti~~:ilrlc~ 1:~~~•.. _1n~• noticc ~~m~•i~l<<1 _ i~,r in thi~ \lort~;.«~• ~h:ill hr ~1~~~~~u~~ri t,~ L:~~•~~ h~•~•i~ :;i~•c~i~ t~~ Rurro~~~~•r ~,~hc~n !~i~-cn i~~ ~h~~ ~u:iiencr ~1c~~i~nateKi hcrcin_ 15. Unilorm Morlgage: Governing Law: Severability. "1'i?i~ tm•!u oi tn~n~t~:~~~e ~~o~nl?iu~~; ~tnifonft ~o~•en:tnts Cor nation:~l usc .~u~l non-uuifonn c•o~•~~n:?nt- ~~•ith liinitc~l ~:ariatiou~ I,~- jin•i~~liction to constitntc a nniforn~ ~ecu- ; rit~ i~i•truwent ~•~~~•erint~ m:~) ~?rn~~crt~•. Thi~ \lortgct~,~ ~h:~ll Le ~,o~•ernc~l h~• tl~e la~~• of tl~~• juris~lict.ion in ~vhich the Yro~?crt~- i~ locste~t. In tl~~~ ~•r~~i~r ti~.it :ui~• {~r~~~-i=ion or ~•l:iiis~~ oi ihi~ ~tortxagc or thc \utc con8iet~ ~vith . :ip~?licable ;a~~•. ~uch ~onflict ~4~:i~! :iot ;it1'e~t othtr ~~r~~•i~irn~~ oi tl?i~ \lort~a~c or the \ote ~~~hich can be given , efiect n~ithottt tLe co~afli~tin~ ~~ro•. ~~ion. :u~~l to ti?i~ ~~n~{ thc~ ~u-o~-i~irni~ oi tlu• \fort~:aQe .?n~l the \ote zre declared ! to 1~ severable. 16. Borrowei s Copy. liosr•+~~~~r ~l::l;l hc turni~Lc~~1 ~•oT~iorincd ~•ot~~• of thi~ \iort~.~~e af ti~e time of execu- rion or after ircc?rdation I~~~rc~~i.. 17. Transfer of the Property: Assumption. If :iil or :u~}- ~~:~rt ot thc Properi~- or :ui intcrest tlierein is sotd ~~r tran~ferre~l h~~ Km•r~~~~~~~r ~~•irl;u~;t L~~u~ic•t~~~ ~~rioi- ~~-ritte•~~ ~•on~ent. exctu~ii~~{: ~al tl~e c•reation oi :i lien or encum- ~ hrancc ~ul~mtilinat~• t~~ rl,i< \I~n•r,a~~~. ti~~• rr~•:~iinn ol s ~~ur~•iis~r w~?ucr ~ecurii~- i~itcr~~=t far hottschol~l appli- :iu~•e-. ~cl a tr:in•j~•r h~- ~ir~•rt~. ~,~~•u! ~~r ~?{~e•i:~ti~m ~~t u~~u~i thc~ ~le~tth of :t i~int tenant or ~~il thc ~;rant of :Ult- ~C::r~•~t0~~1 i~~f~•1'~ nt e ~il't i' \'~•.u r~~i' r~ 3:(,t r~~I:T:Utltl!!~ :lll tl~lillril f/~ ~)lll'1'~lASC. j.l'lll~l'1' lll,tl'_ :lt T,CII(iCP ~ OPtlOil. ~i~~ctan•e all tl~~• ~~is,~~ ~~•~•~ir~~~! l,~- , \I~n-t<,:~~,~• t~~ i,~• inuitic~ii:it~•1~- ~l~s~~ :tin~i ~r,~~•ahlc. 1.~•n~lcr ~la:ill ha~~c~ ~~•:?it•cr! such option to :~~•~•clcr:tt~~ ii. ~,ci~~~• r~: ,:~1~• rr:t~~~ior. L~•r.~icr :~rnl tlu• }~ci::ui: tu ~~'ltotn tlr~• Yr~~?c~~1~• i~ to bc ~old or t~:nn•ferir~i rca~•l~ s~~n•cn~~n~ i?~ i ~~f~ tl~:~~ r}~,. ~iit „f ~~irL ~~~~r,un i~ ~uti~i:?ctor~• tn L~•u~l~~r .uul that the interest ~~a}~:ihIe on tlu• ~~nu~ ~~•~•~ir~•+i I,~- r:,i~ \l~n~s~~:~,~• .l~:tl~ l~,~ :~t -n~•!~ rat~~ u~ l.c•:ulc~:~ ~liall rc~~~i~~;t. If Len~ler l~as ~~•ait•ed the optim~ t~~ :i~•~•~~lei:?t~• E~,~n•i~l~ tl,i~ l~,ir:i~;r:?~~I+ 17 :~u~! :i liorru~~~•r~~ ~~i~•i•~~~:or i~~ intc~re=t lia~ rxecute~! :t ~~rii- t~~n a~~uin~?timi as~r~•~•~~~~•nt a~•~•~ ;,<<•.; ir. ritiu~s h~- I.~•~~~1~•r. i.rn~lcr -1~:i11 r~•l~~:u~• }3~?rr~~~r~~r irim~ a!) ~}?li~ation~ tinder this ~Iort~:irc an~! thc \ot~•. If I.eu~ier ~•xer~•i=e -icrli u?~~icn~ ru ;u~r~~lera!~•. I.rn~~t:r -1,;~11 ~~iai! lior~~o~~~~•r notirr of :i~~~•elet:9ti011 111 aecordai+cc ~~•itL ~~:u•a~r:~l~l? 14 he~~~•~~i. ~n~•l: ~i~~ti+~~• ~l~:~il }~r~~. i~l~• :i ~~~•ri~~~! uf n~i? tr~• tii:?1~ :iO ~'t~?~~, iro~n th~~ ~i~tc~ thc noti~~~ i~ ~uailcd ~+~itl?in ~~~hi~i? i3urru«~~r :~u~~- ,>:i~~ iLr• ~~~iu~ ~!c>~•~ar~~~l ~Irn~. li li~~r!•~~~~-~•r i:?i(~ tv {r.~~• .ui•l~ ~~uu~ prior to thc ,•x~?ir:ttion ~~i ~u~~h ~,c•ri~Nl. L~•n~i~•, ;;~,i~-. ~~iti;rnf~ ?~irsi~~•r t~~ni~•~• ~~r ~l~•tu.is~~l ot? I;~~rro~~'~v'. in~-~~k~• :tm• retncdie~ per- initiccl in- ~~:u•a~r:~`~h {S I~!~rcc~i. ~ ~ \~~x 1'~~f~?~;~~ 1'u~f.x.~• r~. ii„~~i•~,~c~•r:in~l l.~•n~l~~r I~i~rili~•i• ~•~?~•~•~?:u~t :?ml .~~,re~~ f~?Il~?~c~: ~F 18. Acceleraiion: Remedies. 1~:~~~~•~+r i~~~~,,i~i~~~~ ~u ~~:u~a_r:~~~l~ 1; I~e~rcui. ii~~nu Iiurro~~~~•r'~ i~r~:lch e?f a~i~- ~ ~•uc-i•ii:~nt ~rr:i~r~•~~~n~nt ~~i 13i~rr~r,~~ s• ii! rin~ \Inrt~;:i~,~•. ?n,•lwlinR rhr r~~~•~•nant~ t~, ~~:i~• ~~h~•>> ~it~r an}• ~?~tm ~ecured ~ L~' this \I~~rt~:t~;~•. I.~~n~l~•r j,r~~~r ;~~•~~~~I~•~:tti<m ~li:ill ui::il u~~ti~•~• tu Kn~'r~m-~•r a~ ~iro~•i~lt~~l in ~ru:i~:ra~?h 14 hcr~oi ~ ~~~1'('ll~'lll~': 1 ~ i [~:1• ~If~':U•~1: tL~~ :~r?l~tt1 1i•~jUtt'evi tlr 1•111'~• •111'~1 ~rl'~:tl'~1, ~:~1 :l ~~:ll~•. 11~1( ~l':~ t~l:lll i~I1C1~' l~.l~'r fT0111 thc ~1at~• ti~r noti~•~• i~ u+:til~•~! t~~ Ii~,ir~~~.~~r. I~. .~l~i~•!; ~i~~•i~ I~~~:u~)~ ~~~~t~t ~•ur~~~l: am) i~1~ that failttrc to ~~tu-c such ~ hrca~l~ ~?n ~r!>c•1or~• th~• ~!:?t~• -E~~~•ific~l ii: th~• ~~~~ti~•~• ni:i~• r~~=ult iu :i~•~•~•1~•r:ttiun ~~i tli~~ -~nu~ ~cciircYi 1~~- thi~ \lort~ag~~ an~i ;alc of tlu~ Yr~~~~~~rt~-. If ti~+• I~;•~;i~•i~ i~ n~~t ~•nn•~I ~?n or I~~•f~?r~• tf~~• ~lat~• ~~~~rifi~~~l in tl~~• noti~c. l.crnlcr at I.cnder'> ~ o~~tio~~ t?c~~- ~li~~l:u•i~ :ill ~~r r!ir ~nin- -~~~•~n•i•~t hf- thi~ \lnrlL:i~,~~ t~~ I~~• iiiuu~•~liat~•l~• ~luc :?n~l ~?:i~•:~bl~~ ~~•ithout further ~ ~I~~~n:tn~l :inrl iii:?~- f~~r~~~~l~,~~~ tl:i~ ~Im•t,~:~~~~ t~~- ;rt~li~•i:~l ~~~~~~•~•~•~iin~, I.~•n~l~•r ,li:ill h~~ rntill~~~l t~? ~nll~•ct in :~:eh {~roc~~~~rl- ~ ingsll c•s~~~•n~c~~ uf for~~~l~>~nr~•. ii~~•linl~u~~. f~nt n~~t liu~it~•~1 ?•~:i-~ni:il~1~• att~nu~•~-'~ i~~~•<. :~ml ~•o~t.: of ~lo~•wm•ni:u~- c~~idenc•c. ah~trac~t. :~n~l t itl~~ n ~~nrt~. ` ' • • , ~ , • - PAGE 0~70 3 F~ i~~S PACE 4~ A f:.t ~~.0 ~ . , _ - _ _ ~ _ ~ _ _ ~ w.._ .