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HomeMy WebLinkAbout1508 8. Inspection. I.~•u~i~~r u~t~~• iuak~• ur ~•uu~~• t~? h~• iu:ul~• i~:~~unuhi~• ri~~rir. u~~~?u :ui~l n?s~?~•~~tionv o~ th~• Nrop- ~~rty, Im~~•i~ied ih:tt I.~~n~l~~~• ~l?all ~;i~'~~ 13urro~~~~r nc~ti~•~• ~~ri~?r tu :i?i~• .u~•I~ iiiy~c~c~ti~?n .y~eril~~in}~ re:?•unal?le ClILSe therefor relatcrl to I.cu~ier'~ interr~t in tlir !'roFx~rt.~•. • 9. Condem~tati~, i~mr~•~y~c t~~~y •.~!'»n~ r~r ..l.~i~i~ I~~r ~1..~.~n~r..~ .~ir..~./ __n!...~.l~~:.,1 ...s:.......a:..:. .'-n- . ' 1 ~~~ith :uw rondemnation or other t;ikink oi th~~ 1'm~n•rt~•: ur ~~:u•1 tlu•r~~of. ur fc~r ron~•e•y:uu~~~ n? licu oi ~•ondeinna- cion, ~re hereh~~ :~~.i~;n~•~1 an~l ~I?:~II be ~?nid to Lc•u~l~~r. in the e~•ent of :t totttl fukin}~ of th~ Yro~?ert~•. tl?~• ~n•oi•~~~vl• •Ir?II l~~• :i~~~~li~vi tc~ th~~ ~uin; •~•~•nrc~l h~• thi• \Iort- Rug~•, ~.-ith ~iic ~x~~c.~s, ii :?n~~. ~~ai~i to FSorru~~•~~r. In tlu• r~•cmt of ~~:irti:tl t,ikinK of the 1'ro~~~~rt~•. unie•s Borrower :ui~1 i.ender other~~•i~c :~krc~c• in ~~•ritin~, tlicm ~hall l~~• :?~?~~lir~t t~, tl~~• ~uni: •~•~•~ir~~~l h~• thi~ \lort~;a~;r ~uch propor- tiou of tlie pmeeed~ .~s is c~ual ta tluit ~~roportian ~~•1?ich th~~ :~nwunt oi thr ~un~~ ~ecure~l 1~~• thic ~Iort~a~e imme- ~li:itely prior to th~~ ~In/~• of tukin~; h~~:~n t~? thc• ix~i• iu;trk~•1 ~•:~lu~• nl I li~~ 1'ru~~c~rl~~ iinin~Yliat~l~• ~~rior to ihe date of taking, ~vith the halnnce of tl~e ~rrocee~l. l~;ii~l tu Rorru~~•er. If the Yro~>ert~• i. ;?I~~u~ia~ed hy 13orro~~-er or if :~fter uoti~•~• I~~• l.rncler to Rorro~eer thzt the condeu~nor offer to iuake n~~ a~~•ard or ~ettle ~~laim tor ~I.uu:i~c•, 13orro~+•cr tail~ to rc~E?o?~~l io l.ender ~vithin 30 ~la~•~ of the dt~te ot.ueh nuticc. L~_nder i• :?uthoriz~~~i to ~•ollc•~•t :u?~I :~~q~h• the ~~r~x•~~~•~i• :it L~•~uler:~ o~?tio~~ either to re,toration or repair of the ProE,ert~• or to th~• ~uu?~ ~c~•urcvi h}~ tl~i~ \lort~:i~;~~. I1nle~ L~•ucler and Rormt~•cr other~vise ~~ree i~? «•riting. au~ such application of procec•ds tu ~?rinci~?~l shali uot cxtend ur posi~ionc the ~luc ~latc of the n~onthh• in~talhi~~~nt~ rc~f~•rreri to in ~,:u;~~;ra~~Ei~ 1 aud 2 hercof or rhauge thc :uuount ot ,uch instailments. 10. Bonower Not Released. I~,xten~iou oi fhe tiuu• for ~~a~•~neui nr iuo~iifi~~:titio~~ „f :~~uortization of the ,ums ,~rcured I~Y thi: \Iort~ut;e ~r.lnted h~• Leuder to ~nr ~ucce:sor i~z intcre~t oi' Borro~~•er •hall not ~~~?ero~t~ to release, in an~~ u~anner. thcr linhilit~• of thc• ori~ina) liorro~t•~•r :ind Rurm~v~~r'• •uc~•c~sor: in interest. I.ender ~l~nll not be re~~uirc~l to ro~umenc~: ~n•oce~e~liug. a~ainst sucli .uc•ce~sor or refu~c~ to exten~l time ior j>ay~uent ar othenvise modif~ :u~~ortization oC thc •ums •c~~urc~i h~- thi: \lortr:?~;c~ h~• rcxsoti of am• ~len~au~l ~n:ulc b~- thc ori~in;~l Borrn~~•cr ancl Rorro~ver's successors in interest: 11. Forbearance by Lender Not a Waiver. lorb~•;u:um~~ b}• T.en~ler in exercisin~ any ri~ht or remedv here~uider, ur othen~~isc afl'onie~l h~• ,i~~jilic3hle la~~~, ~ hsll not Ix• ~~•ai~•er of or ~?reclu~ic the e~ercise of an~~ right or rem~Kh• here~u?iler. Tl~c~ ~?rocurement of in~i~r:~nce or th~ ~?a~•u?c~nt of t:~x~- ~r oi'firr ticns or charges b~• I.ender ~h:?ll uot he ~~-:~i~•er oi I,ender'~ ri~ht to a~•~elc~r:it~ the~ ~naturit~• of tlie iu~lehtedne:: ~ec~tm~l 1?r this \iort~age. 12. Remedies Cumulative. :111 rcmc~lie~ E~m~•i Ic~i in thi~ \Iort~;s~~ ~rn ~iistin~t an~l cmnulative to any other right ur i•~~nie~h• ~~n~ler thi• ~Iort~u~;c ~~r ;?ftorrie~l I~~• I:~n~ ur ~~~~uit~•. ;in~l tnu~• 1~~~ ~~s~rci~ed ~on~•i~rrentl~~. independ- ~•~~th• ur ~uc~~c.~•i~~ch•. 13. Successors and Assigns Bound; Joint and Several Liability: Captions. ~o~-~n:~nt~ znci a~reement~ f~erein contai~ieci shall hind.:in~l thc ri~ht: liemiui~ier ~hall i?un~~~ +o. th~ re:~?ecti~•~• •~u•~~c~::o~:: .u«1 a~~i~ns of i,ender ' :uid liorron~~•r. ~uhject t~~ t!u• ~~ro~-i~ion~ ~?i ~~:ua~,?-:~~,h 17 lu~r~~u!'. .11i ~•~n~~•~isut~ :u?~t .?~reemc:nt~ of Bormtcer shall '~e ioint :iur1 ~~~~~er:il. "1'h~• ~•:?=~tioli• :in~i i~i•:i~iin~,~ ot t{u• ~~ar:~~:r:i~~h~ nf tlii; \lort~:i~;~• :~re for c•au~•enience onl~~ an~ :~re not. to he usecl to inferprct ~n• ~iefin~~ tl~c~ ~?ro~~i<ia~~ hc~~~c~~?i. 14. Notice. _\n~- notirc t~~ R~rro~~•~•r ~rro~•i~lr~l i~r ii~ thi~ \I~~rt~~u~~• .i~ull 4~i~•~•n i~~• m~~ili~?~; ~u~•I~ noti~c~ h~• r~~rfi{ir~l ~il •~il~lr~•-c~~~ tt~ ]~~l}'~•M~.~,~. .~t ~1.~~ Y:n..~r~~• l~lti~y,.. :t;tt...l I!: I~~.., }.~,..:..,r f~r ..~i~~nn rnr•~ :'^f~ ...^.f#^:. ~ : . : . _ . . . _ ~ . . ~~:u•:t{;r:~~~h IK ht•rcol t~~ lu~ ~i~•c•n to Rorro~~~t~r in th~~ iua~nm~r ~~re~~•ril~~~~l I~~- :t~~~~licul?l~~ lat~t'- :~m~ noticc ~iro~•i~~c~l ~nr in thi~ \tort~;akr ~hall 1~~~ ~l~~e~~~u~l to lui~•e hc~~•~r ~„ire~n tu I3orron~~•r ~cl~~~n ~;i~•~~~ iu th~~ n~anner ~fc:si~n:?te~l herein. 15. Uniform Mortgage; Goveming Law; Severability. Thi~ forni af mortg.?g~~ ~•~m~hinc•~ m~iforn~ co~•enant~ ~or n.ttion:~l n~c• .u;~I ncm-unitorm c~o~•c~r.~nt~ ~~-ith limiteti ~:u•i:ition~ h~- iuri~~liction to c~n~titutc :i i~niform secu- ~ rit~~ iu~truu~ent ~•u~•eri~i~ rca! ~~ro~~ert~-. Thi~ \lort~a!,r~ ~h:~ll !~i• ~c~r~rne~l i?~• the la~+- oi th~~ juris~iiction in «•hich ; ihe Yro~~ert.~~ i~ locatc~i. I?~ thc ~~~-~~nt tlist :in~• ~?ro~-i~ion ~~r ~•(an~~• ot thi~ \lortga~e or thc \ote conflict~ with I ~linni~in In o{• .A:..~ 0{..11 nf .i~'.,.+~ -.~1. .i. 11....~.~ al. \T..a.. .l. ._L I, t ~rr--"----_ . . ,.5:i:: _...a. ..au... ~a~.. . si: . ~ rffect ~~•ithoiit tlu~ ~•onfli~~tiai~ ~~ro~~i~ion. :~nci t~i thi~ ~•nr1 th~ ~~rm-i~iom uf,thc \l~rig;t~e .?n~! thc~ \oie nr~ ~ieclflreci to be ~evernUle. 16. Bonoweis Copy. Rorro~~-c~r ~I~:ill h~~ i~irt~i~}u•~d ~•oui~~run~~l ~•nt~~• ~f !hi~ ~Iortga~;c at thc fime of exectt- Tion or after re~oni:~tion I~e~reof. . 17. Transfer of the Property; Assumption. If :ill ~r :?u~- ~~:ut ~~i tiu~ Pro}rcrt~• or at~ interest therein is sold ur trans(crr~~il liurroti~•~~r ~~-ithnnt l.c•u~i~•r'~ ~~rior ~~-ritt~•i~ ~•~~u~ent. ~~x~•iudin~ ial the~ ~•rc:~tinn of a lien or encum- ~ brznce ~uhrir~iin~ii~~ t~i ti~i~ ~lort~;:i~c. ~hi thi~ i~r~•:tti~m ~~i ~mr~~h.~~~• iu~?nr~• >~•~~ti~rit~• int~•re~~ for I~ousehol~l appli- :uice~. Ir•~ tran~fc•r 1~~' ~1c~•i~~~. ~lr>~•~•nt ur ~~~~~•r:itint~ ui l:i~~ n~~n!. ilu• ~ii•utl~ crf :t j~int t~~n:tnt or ~dl the grant of "s :in~• 1~~,?~~•iinl~l ini~~~~~.~t ~~f tiu•~•c ~•~•:?r~ ~~r 1~~~~ ui~t ~~mtai~~inr :ii~ o~,t;~r,i t~~ ~,~tr~•1~:~~~•. I.~•micr nia~•. :it I.en~ler': opt~ion. - ~irrl.ur..ill tlic ~iun- ~~~~•~n•~~~i tlii~ \I~~rt~.;:t~„e• t~~ 1,~• iinuu~rli::t~•!~• ~I;i~~ :u~~i n:~~•:i}rlr. 1.eml~~r ~lisll ha~~e• ~cai~•e~1 such ~~~~tiuu to :u•~•~•I~•r:tt~• ii. i,rior t~~ tlie ~:el~~ m• trami~•r. L~•n~i~•r :u~~i th~• ~~~•r~~m tu ~~•hc?ui tlu~ Yro~~ert~• i: to be sold or Q te.iu~tc:rr~~t rc•u~•L a~r~•cn?ent iu ~~~ritin~; tli:~t thi~ ~•~~•~lit ~~i ~uri~ ~,rr-un i~ <,iti;fa~•t~n•t- tu L~•u~lrr an~! tl~at thc interest k E~ut'able on tli~ ~uni~ ~~~i~ure~l Ir~• thi- \t~rrtg;~~~~• .l~:~i1 I~~• :u ~u~~i~ ::~T~• :i~ I.~•iz~lc•r :}i:ill r~~~~iie.l. Ii Lender 1?~c ~saived ~ tiie option tu :i~•~•~•!~~•:~te• ~~r~i~•i~l~•~1 in tLi~ ~,ar.~t;r:t~~l~ 17 ;ul~I „ li~~rf•m~•~•~•'~ ~n~~~•r•:or in intem~t ha~ c•xecuted a~vrit- = t~•n assu:untiun :igrceim•nr ,ir~•~~~~tc~l in ~~•ritin~~ I~~- 1.~•r,~l~~r. 1.~•n,i~~r <half rc•Ira~~• Rorrn~~-~~r ir~?n~ :ill o131i~1t.ion~ under ~ rhis \Iortga~;c an~l th~~ \otc. Ii l.en~ler exerci~e. .n~~L u~~tiu;~ t~~ :i~•ccle~:~t~•. L~~n~ic•r ,Ii:~il ~u:?ii K~~rro~cer iiutic~~ ut .u•~•cieratiou iii :ticcordanec~ - ~~ith ~~arakr:t~~li 14 her~~uf. ~u~•li noti~~~~ >h.ill ~~ru~ i~i~• :t {~~~ri~~~1 ~~f i~r~t i~~.: t}~:ui 3U ~I,i~-~ ir~?tn th~• ~latc~ thc~ notice i~ - ~u:~iled tcithin ~?-hi~h 13orro~t~~v ~r,?~• tlu• ~uu~• ~ic~•lai•~~~I ~i~~~•. If linrr~~~ccr Iail~ to ~~a~• ~urh ~um~ ~~rior to thc ~'\~~lt'.ltll)!1 ~I1~•~I ~~t'i'll?i~. ~.CII~~PI' Itlfl\'. ~~Ii~i~illl ltlil}tt•f h~dl~•~• UP ~~1'1117tt!~~ ~Ih li~rrrr~n•i•r. in~-~~k~' :tll~' TC1T1C(~IP~ i~er- mittcd h~• ~~ara;r:ip}? 18 hcreof. ' ~ ~ux l~~iE•u~ca~ t'u~~E:x.~~ r~. K~~rr~r~~~~r;iu~l I.~•n~l~~:~ 1'~irth~~r ~•~~~~~•n.uit :~n~l :?,~r~~~~ :i~ i'~?11~?~~~.: S 18. Acceleration: Remedies. 1•:~~~~•i~r :t- ~~ti~ti U~~•~~ ll~ ~~:1t:1_f:l~~E: lit'C~'~~j, tl~~uti ~~OTI'~nCPI' ~~IPI'.iP~l O~ .tUt ~~~~~~~~r~:~nt ~~r a~r~~~•~ir~ut of R~~rru~~~•r in tt~i~ \I~n•t~,:~+r~•. itirlu~lit~{, tL~• ru~-~~nunt~ t~~ I~:i~• ~~•hi•u ~iu~• an~• ~tnn~ ~CCUred i~ti• this \lort~::i~~•. L~~n~l~•r ~~ri~rr to a~•~~~~i~•r.?ti„?i ~ii:~ll ~u:ui nuti~•~• t~~ liurru~~rr a= ~?ro~~~~i~•~1 in ~~ar:t~ra~?}? 1~ hcreoi - .lr~•rii~~iu~~: ~ 1 ~ tlu~ I~rrarli: ~2? tl~~• :~~•~i~m r~v~inr~~~l t~~ ~•ur~• ~u~~l~ I~r~~u~•!i. :i ~I:it~•. ?~c~t 1~~•~ th:?n thirt~- ~1~i}•• fron~ ~ thc ~lat~• tiu~ n~~ti~•r i~ iu;ul~~~l tu 13c~rru~c~•r. I~~~ wiii~•I~ ~u~•h h~~~•:~rl~ tuti.r Ih• ~•tn~~~~i: :tn~t ~ tl~:st failun• t~? ~ure such },r~•a~l~ ur t,~ ior~ thc~ ~lat~~ .~u~~~iti~•~I in th~• n~~ri~•~• iu,i~• ~~•~i~lt i~~ :?~•~•~~I~~ruti~iu ui tlu• ~iuu- -~~~•ure~! In~ tlii~ \lurt~;agr . . :u~~l ~:il~~ ~~f th~~ 1'ro~irrh•. Ii th~• hr~•u~~li i~ r~~t ~•,u~~~~t rn~ ~~r h~•fur~• tli~.• ~lat~~ ~~~~•i•iti~•~t in th~• i~oti~~c. L~~niler :tt Lenrler'~ ~ u~~ti~rn iua~• ~I~.~i•I:ir~• :tll tlu• ~~uii~ ~c•~nr~•~I ht- thi~ \lurt~;at;~~ t~~ h~• innui~~li:ttel}• ~lu~~ :tnil ~rt~•ahl~~ ~~•ithout further ' ~leuutn~l ,~nil n~:?~- for~•~!rn~• tl~i~ \lurt~:ik~• I~~• ;s~~ii~•i:il ~~rui~~~~~,1in~~ (.~~n+lc~r ~h:?II i,~~ cntitl~•~i to coll~~ct in ~uch ~?ro~~~~~cl- r ' 111~; :ti~ l'3~~N'11~P~ ~~i foreP~c~ti~r~•. jn~•huiin~;. l~ut IH~I =lliilit•~~ tr~. PP:i~Uli3{~~~' .l?iOfll~•~'~r ll'l'~. :lll~~ CO~tN (N ~~OP11Olt'Il~:if'). evi~lem~e. ah~tr:ich .u?1 f itlc rr~~ort:. ~ - aoac237 ~1507 w ~ ~ ~ - ~ ~ ~ ~ ~ - ~ . ~ ,~.~~.~x~..._ . ~ ~.4_ ~'~p~~.~