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HomeMy WebLinkAbout0701 8. Inspection. 1..-u~icr ~uak~~ ur ~•:~u>~• tu i~~~ ~u:i~l~• r~:~~uu:~l~l~• ~•nU•i~•. u~~~?~~ :~n~i in•l?r~tion. oi thc Pro~~- rri~. ~,n~~-i~ied th:it L~~n~l~•r ~lt:?il ri~•r l;orro~c~~r uut~~•r ~~riur tu :u~~• •u~•li iir~?~~~~tiuu ~~~c~~if~•iii~; rca~un:tblc cflUat• therefor related to Leuder'~ ~nten~t iu tlie !'co~K~H}~. 9. Condemnatioa. 'f!?e ~?rocec~l~ oi :?m• :i~~•anl c?c ~•l:+iu~ i~rr ~I:unaKe~. ~lim~•t or couse~~uential. iu conuection ~rith :in~ condeii~nation or otl~er takin~; u[ the 1'ru~K•rt~•. or ~r.~rt th~~r~•of. ar tor ~•~?n~•~ya~u•~• in licu of con~lei~uu?- tion, are hertbr .i~ :~I1t'~I :11NI ~hsll {~e paid to I.e~~~ler_ In the e~-ent of a total taking oi ~I~e Yro~?crt~•. the ~rr~x•~•~~i~ ~Ir~tl i~~• u~y~li~~l to th~• ~wu: •e~•iu•~v1 1?~• thi~ \lort- g~rge,.~~ith ci?e exc.~, ii an~. ~?aid to Borro~~~er. I~i th~~ erc•ut oi a ~~:?rti;~l takin~ ~i the i'~ti?~n~rt~~, unlc~.~ Borrower :ind I.ender otl~enci~c a~rce in ~~~ritin~. them ~liull h~~ a~?~?li~~l t~~ th~~ ~u~n~~~~~r•?uYyl I~r thi~ \lort~;:~~;c ~uc~h ~~ropor- tion of tlte proceeds :L~ i~ equal to th~t ~?ro~?ortiou ~~•I~i~•h tlu~ :uuuuut ol th~~ •wu: :c~~urMl h~• thi~ \lortkn~e imme- diateh prior to tLe ~late of takin~ Ix•a~ to tli~• t:?ir ~uurk~•t ~:?hu• ui th~• {'ro~~ert~• iinuuvli.?t~~l~~ ~~rior to the dnte oi takin~, v~ith the l,afaum of the procee~l~ ~~ai~t t~~ Korro~~•er. If the Prol~ert~ i~ aban~ioned h}' Borro~ser or iti :~iter u~~tic~~ 1?~• 1.~•n~tcr to l3orrou•~~r thnt the condennior offer to make an a~rard or ~ettle a~•laim for ~[aw:?~c~. Rorm~~~er fail~ to r~~~~~on~l to I.endcr ~~•ithin 30 dn~~~ of the dnte of such noticc. Lender i~~ :~uthorized to rolle~•t :uui :~~~~?h• th~~ ~?ro~•~•iyl~ :it (.cn~ler'~ ~q~iion rither to restoration or repair of the Propert~ or to th~ ~nu?: =cyurcYl h~• thi~ \[ort:;s~,c. L~nle~ IA•nder and Borm~er otliern-ise agree in ~~riting, auy ~uch ~pplication of procceds to principal shall uot extend or ~?o~t~wne the due Jate of the monthh• iu~i:illiurnt~ ref~rrctii to i~? ~?ar;~~r1~?h~ I and 2 hereof or change the amount of ~uch installment~. 10. Borrawer Not 8eleased. F~ten~iou ~it th~ tiuu• ior ~~a~•rocut or ~uodific.~tioi~ of :in~ortizntion of tl~c sums ~ecured br thi \iortgage ~r.?nteci h~ I.cnder to an}- ~~u•r~~~~or iu intem~t oi Rorro~~•cr ~h:?ll not opei:?te to release. in an~ manner, ti~e liahilit~ ot ti?e ori~in:il liorro~~-er an~i Rorro~~~rr'~ ~uccc~sor.- iu intem~t. I.ender sh:~ll not~ be rer~aitr~i to con~mence ~?rocec~iing~ against ~ticli ~u~ce~~or or refu~~• to extend ti~ne for ~~a~~ment or othen~ise modif~ :unortiaation o[ thc =uiii~ ~ecun~l h~• thi~ \lortg:~,c h~• m:~son ~f :ui~• ~lcro.~n~i n~:id~ h~• thc oririnnl Rorro~~er ~nd Borroc~er's succe~~ors in interest. 11. Forbe~ance by Lender Not a Waiver. =\u~• iorlxar.incr h~• T.ender in exercisin~ am~ right or remeci~~ tiereunder. or othernise aftorcfc~i b~- :?p~~licabl~ la.~-. ~l?ail not I?~• ~~•ai~•cr ot ~r ~?reclu~lc thc exercise of :tn~~ right or mn~c~i}- iiereundcr_ T[?e }?rocumn~ent of imur,?uce or tlu• ~?a~•iucnt of tase~ or oth~rr licu~ or charges h~- I.ender shall i?ot i~c a~c:ii~er oi T.ender ~ right to a~~cler.?tc tlic ~u:~turit~• of thc indebtc~ine~~ ~c~+~n-ed 1?~~ this \iort~uge. 12 Hemedies Cutaulative. _~il remeciie= ~~m~•idey! in thi~ ~(ort~~~~ are ilistinct and ~~umalative to any other right ~~r remed~ »n~ier ti?i= \Ion~:~~e or :~fiorictil h~- la~c or ~~~lnitr. .u~+l m:i}• 1?~~ exerci~ed c~onc•urrentl~•. indepenti- c•ntl~ or ~u~ ce~ i~-el~ _ 13. Successors ~d Assigas Bound: Ioint and Several Liability: Captions. '1'hc• co~•en:u~t~ and a~reement~ _ i~erein containerl ~hall i?ind. :u~~i tlic ri~ht~ Lem~~n~lcr ~h:?ll in~~r~• to. thr m~~?ecti~•~• ~uc~~•c~=~o~:~ :u~d a~si~n• of T.ender ; :irx~ 13iirm~+-~•r. -~.Ljc~-t tn the {?m~-i~ion~ of t~:u:i~,r:~i?!~ 1 i h~•ri~t. :\ll ~•~?~-~~n:int~ :iml .?~rc•rn~ents of Rorro~~•er ~hull ~ ti~e ioint :u~ri -e~-cr.?i_ Tlir ~•c~~?tion~ :tu~i hcarlin_~ of tlic ~~:u~a~,r:~~?h= oi thi~ \lortr.~!n• am ior ~•om-enien~c only an~i ; :.re not- to he u~ed to interpret or ~lefine• tlee ~?rm-i~ioii< lu~r~~l. ~ 14. Notice. ~n~ notice to Borro«-er ~~ro~•i~i~~l i~r in tl?i~ .\lurt;,:~~;~• ~{~all ~i~-~•u h~• n~ailin~; ~url~ »otiee l~~ i ~'E'[LIhE"~ 1it31~ :+~~~ir~-c*~i to Rorro~~-c~r :?t ~h~• Yro~~rrt~- _~~l~lr~~-~ ~t:~t~~l I~~~lo~~-, ex~e~~t ior au~• noti~~ mquirc~l ~mder ~ ~~:~r..ar.•~~h 18 hcmoi to_1x• ;irc•n tn Rorm~~-c~r in ti~~• iu:iun~•r ~~re>rrihc~l I~~- ,~~,~?lic:ihl~ l:t~~•. ~m• noticc ~~ro~•idcri : ior in chi~ \Iorta3~r -}~all EK• ~li~eu~~Yl to l~:?~-~~ IK~•n •,i~-cii tu I3orrou~~•r ~rl~c•n ~„i~-~•n in thc~ ?nanuer ~ic~i~nate~i herein. 3 15. IIni~orm Mortqage: Governing Law: Severability. Thi~ ioi~n oi' u~ort~:irc ~•oml~inc~ i~nifor~n co~-enant~ ior nstional ~i~ aii~~ non-unitorn~ ~~o~•en.?nt~ a-iil~ liniitcvt ~-sriation= I?~- ii~ri<~iiciion to cQnstitute a uniform secir ritti in,tniu~ent co~-erine real l~ro~x:ri~-_ Thi~ \tort~a_•c• ~hail 1?~ !_o~-erncYi h~- the la~~• of the jurisdiction in ~~hieh ' the Nro}~ert~ i= iocateci. In thr ere~~t ttiat ;u?~- ~?m~-i~ion ~~r rlau~e~ ot tl~i~ \Iort~agc or the ~ote conflicts ~~ith ~ j applicable la~. <ueh ronflict =bal1 rot ahect other ~?rori~io~~~ ~f tLi~ \Iortgagc or the ~ote ~~•hich can be given ~ ~ effect ~ritlsout ri,e ~o:}flietino ~~ro~-i:ion. an~i to thi. eii+i the ~~ro~~i~ion= ot th~~ \lortg~ge :uul the \ote are declareci ; ~ to be sererable_ - = ~ 16. Borrower's Copy. Borm«-cr ~hali furni~hc•~! ranfonncd ~•o~~}- uf thi~ ~[ortgage at thc time of execu- ~ e tion or sfter reronlation hereof. ~ ~ 17. Tr~fer of the Property: Assumption. ti :~ll or :u~}- ~~srr ~~t thc Propert~- or a~i interest therein is sold > ortran_ierred 1~~- Rorrr,ner niti?ont Lcn~ier~< ~?rior u~rittei~ ~•~n~~ent. ~~~~ludine iai the ~~reation oi :1 lien or encum- ' ~ branre -sii,nniinate *o ti~i- \tort~_:~~,r_ ~l~~ tlir ~•riwri~,ei ~~i ~;iu•~•i~:i-~~ ~n~~m~}- -cc•urit~- inter~•~t tor hon~ehol~l appli- ~ ~ :;uee-. ~~i :s tr.itr~te* ~leri=e. ~lr-~et~t ~~t- Lr ~~~u•r:?ti~,~, ui la« ~i~~~~n thr ~I~atli ~C :t jnlDt tenant ~r i~11 tl?e ~;rant of ~ ~ :.n~ le:-~~i~ol~i ;~atc•re~r ~~i tt?rc-~• ~-c•:?r~ ur l~•~~ uat ~•~~~itainiu~, :u~ ~?~?tinu t~r ~?ur~•h.i~c. I.c»~ler ~ua~•. :it t.cnder'~ option. ~ declare a!I ciic -iu~,- -c~-nrr~i i~~• rEii, \lort~:<«i• r~~ !n• ini~u~~~liatrh- ~In~~ :uul >>s~•:?hl~~. I.c•iuler ~h:~ll lia~~~ ~rai~•cYi ~ttch ~ uptitn to :~~r.:•!~-r~te if. S~nor to tkic ~at~• ,?r rrat,~t~~r. L~•n~i~~?- :uvl tli~• ~~~•~:~m? t~i u•hom thc~ Yro~?cM~ i~ to bc sold or ~ transirrrc+i rc.a~.}i :+~n~cu~et~t ir. «-ritin~r tlr.?~ tiu• ~n•~lit ~~f ~iu•l~ ~~~•r,~rn i~ ~uti~factor~• to Len~l~~r au~l tl~ai the interest ~ ~~a~•si,le on rl~ ,~:eii~ >~Y•areri h~- tiii- ~IortT:~;,•~• ~i~:ttl iK• :u ~nri~ r:u~• Lc~n~l~i• ~h.ili r~~~~ue~t. If I.etielcr l~as ~~•aired = ~ che op~ion to :.c~•rier.ur 4~ru~-i~ir~t iu riii= {~:ira~r:t~~i~ 17 :~n~l ii linrro~~~e~?•~~ ai~c~~;.o?• in intcre=t I?:i~ exe~ute~l .i ~vrit- ~ ~ +~•n r--,ii.,~~tior. ~~C£t'l~~t•11f a~•rt•~Hl•i ir ~crir~n~s h~- I.~•rnl~r. L~•~~~i~~r ~h:ill rc•li~a~~~ B~?n•~?~c~~r iron~ :tlt obligatiom under ~ rhi~ ~~Oi2E3gE• aiid ti?r ~ot~•_ _ ~ If I.euder exesci~e~ -~u~1~ uj~tiou tu :?ccelrr.~ti•. I.eml~.•r ~h:~ll ~:i:?il l;orro~cer »oticfr oi :~ccelerztion in accordaucc ~ r.iti~ ~~.~r.iS_r.~~?1~ 1~ Iier~-~~f. ~m•!~ iu~ti~•~• -f~::~t ~n•~~~ i~i~• a ~~~•ri~~~1 ~~f n~~t I~•.. thsn :3(1 ~la~•~ from th~~ ~la!~~ th~~ noti~e i~ ; u~ailed «iti?in ic}~ici: liorrc?u~•r ~::c?~- ;~:s~- th:• >u:e~< ~l~•rlar~•~i ~ln~•. Ii li~?rr~~~~-~~r fail~ t« ~uc•h ~un~~ ~~rior to thc• ~ . . ~~x~?irstioa r~t -u~l? :n•ri~Ml. I~-n,i~•i- i~,:~~-. «-iri~~~}:t t,~rrii~•r n~~ti~•~• ~~r ~I~~u~:~u~i nn liorrot~•rr. im-ok~~ :u~~- r~~medic: ~~er- ~ ~ miLted j~~' {~:~ragr:.E?i~ 18 hrrrof. ~ ? ¢ \„~-[-~~e~~E:.~ t'~~~-F.x.~~ r.,. I,~?r~-~~~c~•r :~nil 1.~•u~l~~r t'nrtli~•r ~•~~~-~•u:int :~n~l :t~,rc~~ :tx 1'~?Il~~~~-~: ~ 18. Acceleration: Remedies. f:x,-~ ~~t ~~r~n~i~i~•~I ti+ ~~:u:~_r:~{~1~ I; f~~~r~•of. ~~~,im R~n•ro~c~•r'; hrca~~li ot :w}- ~ ~ ~•~~c~r,:~tit ~~r:ts,r~,-~i:rnt ui Rvcruc~~•r i~~ ~I:i~ \I~~rtc:~~_~•. itu•liulim,~ tlu• ~•~r~-~~n:u~t~ to "~~a~• ~clu~n ~Inc :ui~• •nn~~ ~cc~uretl ~ i,r thi- \lurcra_~•_ L~•~„i~•r 4~riur tu :?~r~•Irr:tti~~n ~L:?II ~uail n~~ti~~~• t~~ {3~~rrun~~r ~n•o~•i~l~~~l in ~?ar.tgra~?h 14 hcrcof ~ ~~~1'PIICIII_,: ~ [::r t~l1':t~•~:_ T~il' :1~•11~~It Y~'!,111!'1'~i ll~ ~'lll"~' ~U~'~1 ~~Y~':IP~~: ~.;1 :l ~~:lt(`. 111/~ ~M~~ ~~Y.UI 1~I1Tt1':(~:1~'~ fC0111 )}lt' ~~:it~-'l:! icV!1~•~- 2~ 1?Gt71~~~ t11 ~iu~f~l~~l•C. E~l' l\'~tl~•'i ~IU•~1 ~~Yt':V'~1 illll~l ~It• 1•Ill'1'~~: :111~~ 1~Cll ~:tl~lll'l' ~O ('lll'C ~UC~1 s ~ ~ ; ~ \lort~, t~,~ t ~ . ~ }~rt::l'j: ~~It ~lr .k'tu~' t:;~• ~::tf~ ~fN'~•itlH lIl [~U' IU?1l~•1' It1:ll' !'~•~il~f SII :lP't'~1'P.illllll ~)1 ~~Il' ~IUII~ rl'~•111'lY~ ~1~" 1~11~ . :<<,•I _::Ir ~~f ti~~~ 1'r~~iK•rt~-. If t?~r l~r~:u•i~ i- u~~r ~•un~~t ~~n ~n• L~~i~?r~~ tli~• ~i:it~• ~~~~~~~iti~•~! tn th~; n~?ti~•~~. L~~n~ler :it Lcn~lcr'~ ` ~ ~.~~~ti~~~~ i~~:~~- ,i~ ~•;:~n- :il~ oi tf:~• -~u~,- ~~•~•~~rc~i b}- tlii> \I~~rt,,:i~,~• t~~ h~• iu~un•~li:it~•!~• ~lui• :u~~l ~~:?~;ihl~• n•itli~?ui ti~rth~r ' ~ ~lrnr~~~~i :~u~! ~~.:i~- Inmrj~~-~• tlii- \lint~_:?_~• I~~- ~u~li~•i:il ~~r~~~•~ ~•~lin~_ I.~•n~l~•r 'I~.~11 h~~ ~•~ititl~•~1 tu ~•~~II~~~t-iii ~n~~l~ ~?ro~•t~cYl- ~ ing:~i} r~iKt~-~> ~~i tur~y•Iv.-ur~•. ~nrl~t~ltn_. f~=u nut lii~ut~~~j t~~. r~~:i-iin:?l~l~• :~tti?r~?!•~•'~ f~•c,. :in~l ~•ir.t~ ol ~lo~tin?~~ntai~- r~-i~Il-i3~'t`.:~L.tr:i~•t~ :~u~l tit1~• n ~~?rt,. ~ ~ ' ~ $OOK~?JV PAGE 7O1 ~ ~ ~ € _ _ - - . _ . . - _ : t _ ,ti>