HomeMy WebLinkAbout2155 t
. ~
T
a
8. lnspsction. _ I.ender iuay ~nakc or ~ause to Ix~ u~ude ~•rasuuaLlc enh•ies u~?on an~l ins~~ectiona ot the Prop- ~
~rty~ pmvided thst I.ender shall give Borro~~•er notiee ~~rior to any su~l~ inspectiou specitying reasonable cause ~
therefor related to I,ender's interest in tl~e Yroperty. f
9. Condemnation. The proceecis ot nny »wani or claim for dnmages, direct or conseryuential, in connection
with any condemnation or ot,her taking oi the Pro{~crt~y, or ~~:art tl~creot, or for com•eysncc in lieu of condemns-
tion, are heteb,y nssigned and sliall be paid to I.encier.
In the event of tatal taking ot the Propetty, the procecrix ~hnll I?e i~pplied to the ~wns secured by this Mort- ~
gage, ~~~ith the excess, if flny. paid to Borrower. In thc rvent of n partial taking of thc Pro~~erty, i~nleag Borrower ~
:~nd I.ender otherN ise agree in «ritin~, there shnll I?c n~~~~licci to the sum~ sc~urc~i by this ~Zortguge such pmpor-
tion of the proceeds ~?s is equal to that pmportion ~~•hich the amount of the sunis secureci by this ~iortgage imme- ~
~liately prior to t.he datc of taking l~ean to thc fair wurkct ~•uluc of thc Yroperty imniecfintely prior to the date ot i
taking, with the I~alance of the proceeds ~?aid to Borron•er. t
If the Pmperty is nbAndoned by Borrower or i( ntter notice 1,~~ I.ender to Borro~ver that the condemnor offers
to make an award or settle A claim for ~iamuges, Borrower fails to respond to I.ender within 30 days of the date
of such notice, I.ender is authorised to collect anil ap~~l~ the ~irocccKls at'I.ender'~ option either to restoration or +
repair pf the Pmperty or to the ~ums securecl by this \(ortgA~c. {
4
Unless7.ender nnd Borrower otherwise agree in writing, any such application of proceeds to principat shall ~
not extend or postpone the due date of the monthly instnllmenfs relerrccl to in parngra~?hs 1 und 2 hereof or
ehunge the amount of such installments.
10. Borro~ver Not Aeleased. Extension of the ti~ne i'or pnvment or modification ot amortiaation of the sums ~
secured by this ~iortgage granted by I.ender to any ~uccessor in interest of Borrower ~l~all not operate to release,
in nny ~nanner, the liability of the originnl Borrower and I3orro~vc•r s succecsots in interest. I.ender shall not be ~
requii~eci to commence ~~roceedings ngainst sucl~ successor or retuce to extend t~ime for payment. or otherwise modify
:~mortiaation of the sunis secured b~• this \~iortgage by reason of any demand madc b~ the original Borro~ver and
Borrower's successors in interes~. •
11. Forbe~ance by I.ender Not a Waiver. ~m• forbe~rancc hy Lender in exercising any right or remedy ;
hereunder, or othernise af[orcieci by Applieable law, sl~all not I~e :i ~rai~ er of or preetude the exereise of any right
or remedy hereunder. The procurement of insurance or the payment of t~xes or other licNC or charges by Lender
shall not be n ~vaiver ot I.ender's right to accelen~te the mnturit.~ ot the indebtedness secured by this ~Iortgage.
12. Remedies Cumulative. All remeclics }~mvicic~l in tl~is ~Iortgage are dist•inct ttnd cumulative to any other
right or remed3~ under this \tortgage or ;~fforde~l h~ 1~~~• or equit.~~, an~i muy bc exemised concurreutly, independ-
ently or successively.
13. Successors cmd Assigns Bound; Joint aad_ Several Liability; Captions. Thc co~~en:?nts and agreements ;
herein contuineci sht?11 bind, and thc right~ herewider ~hail inum to, thc respecti~~e succecsors and acsigns of I.ender . 2
:ind I3orro~ver, subjcet to thc pmvisions of pars~~~nph 17 hcreof. ~Il covenant~ ~nd :~~reements of Borrower shall. ~
be joint .?nd ~e~•eral. The ca~rtions anci 1?eading, of the ~~.~ra~ra~~hs of thi~ ~Iort~age are for con~enience only and #
are not to be used to interpret or define the provisions liemof.
14. Notice. Any notice to Aorroner provideci for in thi~ \lort~x~e ~I~all Le given by mailinR such notice b~
ccrtified ~uail iddressed to Borro~ver at thc P,-operif .~ddre~s ~tatc~l belo~~•, except for am noticc requited under
~r.~rngraph 18 I~ereof to 1?e given to Bormn•er in the ~uanncr pre~cribcxl i,~ applicaUle law. ~ny notice provided
ior in this ~tortgagc sha11 l~c deemecl to ha~•e hecn given to Borro~~~cr ~~•hen ~i~•en in tl~e manner designateci herein. '
15. Uniform Mortgage; Governing Law: Severability. Thi~ forn~ of mortgAge combines uniiorm co~•enants _
for national use and non-uniforn~ co~•enant~ «itl~ li~nitecl ~•ariation~ i~y jurisdiction to constitute n uniform secu- i
rity instrument covering real ~~ro~~ertv. This ~tortgage shall be governeci hy the lan• of the jurisciiction in ~vhich i
the Pro~~erty is locuted. In the e~•ent that anv ~~ro~ision er clause oi this ~iortgage or the i~Tote conflicts with
applicable law, such conflict shA11 not nffect other ~?ro~~ision~ of this \iortgage or tl~e \'ote ~vhich can be given
effect ~vithout thc conflicting ~?mvision, and to thi~ end the ~~ro~-ision~ of the liortgage zn~i the Note are declared
` to be severable.
~ 16. Borrowei s Copy. Borro~~~er sl~all bc furnishc~l a~•onformed co~~~• of this \lortgage at the time of execu-
E tion or after recordation hereoi_
~ 17. Transfer of the Property: Assumption. If all or :?n~• ~~art of the Property or an interest therein is sold
! or t;ransfenecl by Borro~ver ~vithout Lender'~ prior ~~•ritten consent, excluding (a) the crcatian ot a lien or encum-
( brance sui?orciinate to this \iortgage, (b? the ~mation of ~n~rcha~e mone~ ~ecurit~• interest for household appli-
ane~, [cj a transier h~• ~1e~•isc, ~icscent or h~• o~~e~:ltion of la«- u~~on tl~c ~leath of a joint tenant or ld) the grant of
~ uny leaschold intere~t of threc ~car.- or lc~~ not ~•untaining :in o~~tion to purcl~asc. i.ender ~na~r. at: T.ender's option, ~
~ declare all the su~n~ ~ecureci h~• thi~ \tort~;age to hc immediatch~ ~Ine :?n~i 2~xvnblc. I.ender shall have ~vaived such :i
option to accelerate if. prior to the sale or tramfer. I.encier ;u?~i tLr {~erson to ~vhom the Pmperty is to be sold or
~ transferred reach agmement in riting tl~at thc rntiiit of sucl~ ~?cr~on i~ ~atisf3cton~ to I.encier and that the interest ~
~ ~~ayable on the ~iuns ~ecureci Uy this ~tortga~c ~I,ul1 lic at ~ucl~ rate as I.ender~chail request. Ii Lender l~as waived ~
the option to :icceler~te provided in this ~~~ragrapli 17 an~1 if I3orm~~~er's successor in interest has executed a writ- ~
~ ten assu~nption agree~nent acceptecl in ~Fritin~ h~• I.cnder. I.en~ler ~hall release Borro~~er irom all obligations under - ~
~ this Mortgage and thc Notc. ~
~ If I.ender exercises sucl~ option to accclerute. I.ender shall ~nail Borrower notice of acceleration in accordance ~
~ «-itl? ~?ar~grapl~ 14 hercof. ~itch notice ~l~all ~im~~ide ~?erial oi ?~ot Ic~~ th<<n 30 da~~s from the date the not~ice is j
~i~ailed ~~~ithin which Borrower w:~}• {~a~ the swns declarc~ ~iu~•. If I3ormw•er fails to ~~a~~ ~uch smns prior to the
~ ~xpiration ot such ~~erial, I.ender ~na~, «~ithout furth~r noti~•c~ or ~len?aii~1 on Borro~ver, in~•oke nn~ remedies per-
~ mitted by paragraph 18 hereof. ~ y'
3 \ov-L~ \IFOKAI ~'c~v};r,~x-r>. I~urro~~•er ,~~ul l.eml~~r f~u•thc~~• ror~~n:int a~id dnree follo~r~ :
~ 18. Acceleration: Remedies. f:x~~ept x~ ~~ro.-i~le~l in ~~ar:i~;r:~~?i? 17 I~ereoi. i~~?on 13orro~~•er'~ breach of an~-_
` co~•en:~ut or agreen~ent of Borro«~er in thi~ ~fort~age, in~lu~ling tlu~ ca~enant~ to ~?a}~ ~~•i?en due an,y ~ums secured
~ by this ~tortgage, Lender prior to accclert~tion ~hall n?ail notice to Borrow~er a~ prorided in paragraph 14 hereof
~ ~pecif~ ing: (1) the breach; (21 thc :~ction rcquircyl to cum wcl? breac{~; ~31 a~iAtc, not les.~ thun thirty days from
~ the ~latr the notice i~ maileyl to Borru~rcr. 1?~ ~~•hich ~ucl? I,rcach must be cured; and 141 that failure to cure such
~ breach on or before thc date s~iccific~l iu the nolicc ~nat• result in~ac~eleration of the swus accureci by this ~tortgagc
~ .and sale of the Yroi~erty. If the breacL is nut curect on or before the ~1at~r•rpe~jfierl in the notice, I.ender at I.ender's
~ o tion ma ~teclam all of ~e sums ~ecur h~ this \Iort a c to bc~ immeciiatel~~~tlp~ a ~ayable without further
P Y ~ ~:S fiR 1
~ demand and may foreclose,this ~(prtgARe,liy judicial ~~rocer~lin~. I.en~ler ~I~all I?e entitl~to collect in such proceed-
~ ing all ex~?ences of foreclosure, includinK, but not 1i~uit~vl tu, reasona~l~le attorney'~ fees, and costs of documentary
~ evidence, abst:racts ancl title re~~ort~.
~ 0 R
r~ aoor ~ P,~
~
3
~
~
~
_ _ .
: - _
,
~ _ _ . _