HomeMy WebLinkAbout2605 8. Inapection. L~•u~lcr iuii~• iui~k~• or ~•a~~i~i• to lu• iu:ul~• r~;i.uii:tbli• ~•~itru~• u~?o~i uml ii?~~~c~•tion~ oi th~• Yru~?-
~~r~y, ~~mviclccl ILnt l.~~n~l~~r ~h.il) ~;i~~~• liorrun~~•r uoti~•~• ~u•i~~r lo au~~ .u~•li ~n.~~~~ct~on •~~~•~il~•iu~ rcationahlcr ~~ause
therefor related to I.ender'~ intcn~st in thc Yru~,crl~•.
9. Condemnation. '('he ~~ro~•eed, of :i~~~• :«~•anl or ~•li~ini for ~i;uniikc~. dirc~~•t or conse~~uentiAl, in conneetio~~
~~~ith :?ny con~lemnntion ur otl?er takin~ of tlu• Pro~u~rt~•. or ~u~rt th~•r~~of. ~n• for ~~on~•e~~unec ii~ lieu of condeu~nu-
t10I1~ Al'C I1Ci'CI~Y :~s~iRncvl ~tn~l ~I?t?11 b~ ~?:tid to I.rn~lcr.
In tl~c c~•cnt of a total t.~kin~ of the Yro~?crh•. th~ ~~m~•~~~~~ls ~hall L~• :~~~~~li~•~i to th~• :un~• •~~um~l 1~~• thi: \(ort-
~:~ge, ~~•ith the ex~res, if :~ny. ~?aici to I3orroti~~er. In th~• ceent of ~~artial t;?kin~; of th~~ Pro~u•rfy. unlec~ I3orroR•er
:wd I.ender other~~•i~~~ aKre~~ in ~~ritin~. them'.h,~ll I~c• s~?~~li~il t~? th~~ ~unr. ~~~~~urMl I?~• thi< ~lort~;.~~;e such ~~ropor-
tion of the pmecedc as is equal to that ~~roportion ~~•I~i~h thr amount of thc• ~wns secured bv thic \1ort~~aqe imme-
~liately prior to tlic datc• of takin~; Im:ir.• ~o th~• fair ~u;irk~~t ~~:?hn~ oi th~• f'r~~~icrt~• imni~~~iinteh• ~~rior to thc datc of
taking, with the b:ilunc•c of the ~?rocced~ ~~ni~i io 13orro~~•er.
If the Yropert~~ is ai,audoncd b~• 13orro~~•cr or if .~fter notic~~ I~~• Lcndcr to Rorro~~•cr tt~1t. the condenu?or ofFer
to make an a~~•nr~i or settle ~~lai~u fa• ~lawx~c~, I3orro~~•cr fnil: t~~ re~~?orni to I.endcr ~~•ithin 34 dA~•s of the eiate
~?f such noticc, I.endrr i• ,?uthorize~i to ~•ollcct au~l .?~?~?1~• tli~~ ~?ru~•c~cd; .it I.cuder'; o~rtion citlu•r to re~torntiou or
repair of t•he Ptopert}• or to tl~~ ci~~ns .ecured i?~• thi~ \IortKaK~•.
tJnlea, I,cncler .md Borro~~•er othen~•ise agree in «•riting, any such application of procec~cis tu principal sl~all
uot extend or postponc thc due d~te of tlie monthh• installn?~~nis refcrr~~1 to ii? ~~.~r¢i~rni?l~~ 1 and 2 hercof or
~~hange the amount of such installments.
10. Borrower Not Releused. I:xtensio~i of thc~ tinie ior ~?:~~~ment or n~odificatiun of .unortiz~tion of the sums
~ecureci by this ~tortguge ~rnnteci 6~- l.ender to an~• ~u~ressar in intere,f of Borm~~•cr shall uot opcr:~te to release,
in any innnner. the liahilih• of the origin:~t Rorro~~~~~r ,in~l Rorm~~•~~r's .ucce~sor• in intere~t. I.encler shall not be
~•eqi~ire~l ta ~ommen~•c ~~roccc~lings :tgninst such succc:~or or re[i~~~ ta ~xtend time for ~ia~•meut or otl~ern ise modif~-
:~mortization of the ~ums srcured b~• thi~ \Iortt~.iKc~ h~• rc~so~i ot :~n~• ~len~an~l ma~lc 1~~• thc origin~) Borrot~•er ttnd
Rorrower's successo~ in interest.
11. Forbearance by Lender Not a Wadver. :1m• torbearancc~ i,}~ I.ender in exercisiu~ an~ right or remedy
hereunder, or othencise nflFonied h~• a~~plicaUle 1:~~~•. ~hall not hr ~~•Zi~•er of or {ireclu~~c the exercisc of au~~ right
~?r reme~h• hem~u?der_ 'Che ~~mcurement of insiirancc or the ~?a~•ineni of ta~es ~~r other lien~ or chnrges by I.ender
~h~ill not Le :i ~vai~•~r of i,ender's ri~;lit to arceler:ite th~ maturit}• of the indehtednes~ ~ecurMl 1?~• this \lottgage.
12. Remedies Cumulative. :111 renuKlic~ }?ro~•id~~i in thi~ ~tort~a~e am distinet snd ctunulntive to nny othcr -
right ur rcmc~}• un~lcr thi~ \I~~rt~a~e or :?fi'onicvl I?}• i~i~~• or ~~c~nih•. ami ma~• hc~ exercist~ri concurrnntly, independ- ~
~•ntlt• ur succe~~i~~eh•.
: 13. Successors and Assigns Bound; Joiat and Several Lic~bility; Captions. 'I'hc• eo~•en.ii?t~ an~l a~reement:~
I~crein ~~ontaine~! shall Lin~i..~nd tlu~ ri~ht~ hci•~~~aulcr ~i?a11 i~iur~~ to. tl~~• re:~~eeti~•~• :uc•cc.::or.• .u~ri asci~;ns oi ~.ender
;u~~i R~~rrn«~~r. ~nhjeci tn thc~ ~im~•i~ion~ ~f ~~ar~~,r.t~?I! 17 h~r~~of. :111 i~o~•~~nant: :tn~l a~r~~ementc of Aorron~er~shall '
he i~»ut ;wil r~•~•eral. Ti~c ~•a~~ti~m~ aml hr:uiin~• of th~~ ~~.u:e~~r:?~~h~ ~~f thi~ \lortt;a~;~~ ar~ irn• ro~~~•enience onl}' and
:~re not to he use~t to inter~~ret or ~iefine~ tlic ~?m~•i~i~n~ hrr~~of.
14. Notice. :1m~ noticc ta R~~rroa•~v ~u•o~•idc~~i lor in thi~ \IurtRa?~r ~h:?I! hi• ~~i~~~•n mailin~; ~ucl~ notice b~-
~•ertified ~u~iil :ul~irr~~c~i to I3orro~~•~•~• at th~~ P~o~~ert}• .~~l~ir~~<. ~i.ue~~l hc•1~~~~-. ~•x~c~~~ tor :~u~• noti~•c• mquire~i under
~~:u•:?fir;ijili 18 hereof' to l~c gi~~~~u to Rorro~~•~r i? th~• ~ua~in~•r ~~?•r~crihe~l h~• :?~~~?lirahlc~ iat~•. :1n~• noti~~ ~~m~~iderl
inr in thi~ \tartgage ~I?all he ~icen~c~1 to h:irc I?ecn gi~•~~?~ tu Rorro~~~•r ~~~h~~n ~ir~u in the~ mauncr ~lc;i~nate~l herein_
15. Uniform Mortgage; Governing Law; 5everability. "I'hi~ lorni iuortfia~;c• ron~hin~~: uniform co~•enant~
for nationa) nse :~ti~t non-unifonn co~•en.u~t~ ticith limitcvi ~•aristio~~~ h~- inri~cli~tion to ~•on~tit~~te m~iform secu-
rity instruuicnt ~o~•ering real ~~ro~~ert~•. Thi~ ~iort~a~,e~ ~h:ill l~~~ ~,o~~erneii h}• thc la«• of the juris~liction in ~chicl~
the Yroi~ert~- i< loe3ted. Iu the e~•cnt tliat :u~~- ~rro~•isioii or ~•lzn~~ of thi~ \lort-~agc or the \ote conflicts with ~
:~pplicable la~~•, ~uch ~onflict ~i~ail not :~f~~ct ~thc~r ~n•o~•i~ion~ ot thi~ \tort~a~c or thc `Totc ~vhich can hc given -
~~ffect n~ithout thc ~~onflictin~ i~ro~-icion. an~l to thi~ c•n~l thc }n•oc-i~i~~n~ of tl~e \iort{~a~c :uu! the \'ofe arc ~icclareci ;
t o hc severuble.
t 16. Borrowei s Copy. Rorro~crr ~i~:?11 I,c t~~rr~i~l~c~i :i ~•onior~u~~~l ~f thi~ \Iortgc?~e at t.he timc of execu-
~ ion or after reconl:~t ion hcreoi _ -
17. Transfer of the Property; Assumption. U al! or atn- ~~:u~t ~f tli~• Properh• ~?r ;ui interest, therein is sold
~~r transfcrrc~i I~v 13orro«•c~r ~rithoiit Len~le~r'~ ~?rior ~~-ritt~~~i ~•~n~ent. ~x~•ludin~: Isi tl~c ~~matian oi a lien or encum-
hranc•e ~uhur~lin~et~~ to tl?i~ \lort~ac~~~. ihi tli~• ~~r~•:?ti~m ~~f :i ~~iir~•1,:?,~~ mou~•~• -ecnrit~- intc•r~~~t ior liousehold appli-
~nre~. ~c~ a tr:ur.-t"~~r in• ~le~•i~c. ~1~•;c~•t~t ~n• u~n~r:ttiu~~ ot la~~- u~~~~~~ tl~~• ~I~~cttli ol :i j~int tE~usnt or ~~Il the grant. of
:u?~• leci<<•hol~i i~~t~•re~t ~~i !lirc~• t•~~:ir~ or Ic~~. i~ot ~~~mt:~iuiug :in „~~tiun tu ~~nr~•ii.~~~~. L~~n~i~r n~a}-. :~t i.ender'~ opt:on.
~Ic~~lare all the ~mn~ ~~~~•ure~l 1~~- thi~ ~Im-t~~:t~~• ti? hr in~nu~~t~:it~~l~- ,iiu~ :uul i?a~•:~hlc. Lenrier ~hall ha~•e ~vaired such
~~~~tion to a~v~~l~rate it'. ~~rior to tlie ~alc• ~u• trsu~ic~r. I.en~ic•r :u~~i tlie= ~~er~on to ~ehom the Yropert~• is to be cold or
~r.insten•ed reac•li :i~;reenient in n~ritii~~ tli:tt thc ~•rr~{it ut ~u~•{i ~~c~•~on i~ ~uti~f.~ctor~• to L~~u~ler an~i that tiie interest
~~a~~able ai the ~un?~ s~~curc~i h~- thi~ \Iort~.i~;~~ ~li;i14 i,c :~t ~u~•li r~it~• I.t~n~ier ~I~afl r~~~~uc~t. If I.ender has tcaived
rhe opt~o~t tv :i~•~•~~Ier:itc~ ~1ro~•i~lc~~i in tlii; ~~:iragr:?}?1~ 1 i:uui ii liiirr~~~~•er'~ ,~~c~e~>or in interest ha~ executed a writ-
!~•n as:uu?{~tion .t.e,tc~•mc?~! a~•~•c~,tcil i~: ~~•ritin~ h}• I.i~n~lcr. L~•?nl~~r ~hsll rc•I~a~~ Borro~~•cr fron; zll oblig:ttions under
r i~is 14ortgagc ,uid ~ hc~ Nut~~-
` if I.e~der exerri~e~ .-u~i? u~rtion te~ ;~ccelerat~•. I.ender ,li:ill ~nail l~orru~~•~~r uoticc of :~c~~eieration iu ~ecordance
;~~ittt j~araE~r:?~~I~ 14 liercof. ~ucli ~~~?ti~•~• ~hall ~n•~~•i~i~• :i ~mri~>~1 ~~i nc~t 1~~.:: tl?un 30 ~lu}'~ trotn tht~ ~iat~~ tl~c uoticc i~
nr~iled ~cithin ~~•i~i~li liorro~~•~~r iu:?~- thc~ ~uur ~Ic~•lar~•~! ~lu~~. Ii 13+n•ro~~-cr tail~ to ~iat~ ~u~•li ~uut~ ~~rior to thc
,•~~~ir.iticn n! ;u~•h ~,er;ucl. I.~•u~l~~r w:i}•. ,~~ith~~ut f,irtlu~r nuti~•~• ~~r ~I~~m:ui~i nn 13~~rm«~~•r. in~•~~ke• :tn~• rernedie: per- ;
mitted i,~ ~in:a~r~?ph IS her~~of. ~
- \n~-1'xttvnaat 1'~~~•t:~.~~~i:.. I.~~rr~?~?-~~r :~n~l I.~~wl~•r 1'urth~~r r~~.-~~n:~nt un~l .~rre~~ t'~?ll~?~r~:
18. Acceleration: Remedies. 1•:x~~i•~,t a~ ~~r~~~~i~l~~~l in ~r.u:irr:y~l~ I; lu•n•~~i. u~~on liorr~i~~•~~r'~ hn•acli of an~-
~~~,~~~•uant ~~r a~re~~~n~•nt of Rurrn~~-~•;• in 1l~i> \lortr;i~;~~. in~•lu~lin~* th~• ~•u~•c•nant~ t~r ~r,?~• ~~-h~~n ~Ine an~- :um~ securecl
l~~• this \1~?rtfiuKe. Lcrni~•r ~~ri~~r to ac~•~ieratiun ~liall u~:~il noti~•~~ to Korro~ci~r ~?ru~~i~lc~l in ~?ara~ra~~h 14 hereof ~
.~~ccit~•in~: ~ 1 r th~• hr~:~~h: ~li tlu• :u~tion n~~~utre•~1 to ~•ur~• ~n~~li tir~_•arli: ~3i a~late•. nut I~~.:: than thiM~' ~la~•s froni ~
tLe ~late ~h~• notic~~ i~ iu::il~~~i t~~ Borru~~-~~r. I~~' ~~~lii~•li ~uc•h L~•~;u•i~ niu~t In• ~~ur~•~(: .?n~l i4i that f:?ilure to ~ure ~uch
i~rcuch on or f~~~i~irc th~~ ~i:+t~• ,~~~~rifi~•~1 in th~; noticc.~na~• r,~:t11t. in :u•~•~~i~~r.ttiun of the ~iuu• •~~~~urc~l hy tl?i~ ~iort~.t~~~
_ :uu1 saic uf tf~c f'rol~c•rl~•. If thc hre•s~•h i~ nnt ~•um~~ un or 1?~~for~~ th~~ ~lat~~ •pc~ih~~~l in th~• notice. I.cn~icr at Lender'•
uption n~a~' ~Ic~~l:~r~~ all c~f th~• ~~~n~~ ~~•~•ur~•~i 1~~- thi. \lort};a~;~• to hc• iu?uuYliatelt• ~lue :tn~l ~~:?~•able ~~•ithout further ;
- ~len~unrl an~l iu,iy forrcl~?;c tlii~ ~lort~a~~• Ir~• ju~lic~i:il ~n~o~•~~~tiliny: L~~u~i~~r •h:?ll he ~~ntitl~~l to ~ollect in stich ~?rocced-
K ing sll ex~~en~e~ ~~f foreclo~ure. inc~lwiin~;. hut not iiinite~l to. n•.t~onxhl~~ attorn~•~~'~ fee:+. :tn~! eo~t~ of documentan-
~ evi~lence, at~~tra~t~ an~l titl~~ r~•~?urt~.
~
~ . . s~o~238 0.~~~2599
~
~ .
~ ~
~
x_ , - . . r
~~.1,~ ` ~ ~r ,f.f- - ~ ~
z..t=
C.~. a ~
_ . _ . `U~~'^Y Y ~ . _