HomeMy WebLinkAbout2984 8. Iaspection. Len~ler iui1~• ~nake .n• ~•iui,~~ tu h~• ~uu~l~• n•;~~un;?I,l~• ~•ntri~~• u~~~,i? iui~l ii?.~?ectiuii, oi the Yro~,-
erty, }~ro~•ided tlu?t L~m~li~r sliull ~;ivc liorro~~~er noti~•~• I?rior to :u~~• •u~•I~ n~•~~~~~ti«n ~~~c~•if~~iu~; musonahle cau~e
tl~erefor relateci to I.en~ier's interest in the Yropcrt~~•.
9. Condsmnation. 'Che ~~roeceds of :tn~~ :i~~~an! ur ~•li~i~i~ ior ~I.i111liF;C~, ~lirect ur consec~~iential, in connection
~~•ith .u~~~ cumlemnation or other tnkin}; oi the Pro~~crt~~. ~?r ~u?rt th~•r~•of, or ic~r ~•ou~•cyu??~~~~ i~i lieu oi condenuu~-
tion, are hereb~• ;issiku~vl ami ~lir~ll bc paici ta I.cn~lcr.
In thc c~~cnt of n tot.?I t.~kin~; of thc Nroi?crh•. tlu~ ~n•u~~~•c+l.•luall I~~• ;~~?~~lic~1 to tiic ~wu. ~~~~•~n•ed h~ thi, \[ort-
giige, ~~•ith the exces,, if :u~~•. ~?ai~l to IIorro~~•cr. In tl~~~ c~~ent of ~~:~rtii?I takin~; of the Ym~?ert}~, unle•s 13orrower
:u~d I.ender otl~er~~i~~~ agrcc in ~~•ritinK, them ,hi?ll I~~~ :~~?~~lie~l to tl~~~ .~uu: ,c~ure~l 1?~• thi~ \(ortR:ifie sucl~ ~?rol~or-
tion of the proceecis ;is is equal to tl?at ~~ropa•tiou ~~•hich tlu~ a~nouut oi the sun~~ •ecured 1,~• thi~ ~tort~age imme- ~
~liately prior to thc dnte of tnkin~ bean to thc i;iir u?ark~~t ~:~lu~• of. tlu~ !'ro~?ert~• inuuc•~liatcl~~ ~irior to the dute of
taking, with tlte b:tlaucc of thc procecds ~~ai~t to 13orro~~•cr.
If the Property is al~~nda?ed b~~ I3orrower or if :ifter not~~•~~ I~~• Leuder to Borm~~•cr tl~nt the condemnor ot~'er
to ~unke an a~eAni or settle a clnin~ for dt~~ua~e:, iiorro~~~er fail~ to re~~~ond to Lencier ~~~iihin 30 ~lays of the dnte
of such notice, I.ender i~ authoi•ized to ~•olicct :uui a~?~?1~~ tl~e ~,roc~•ed~ :it l.~uder'~ c?~~tion eitLcr tu restoration or
repair of the Property or to the ~~tu~c secttrc~i b~• thi~ \lort~;,~~e.
Unlcss I.ender and Born~wer othen~ isc agree in ~vriting, any such ~pplicAtion of procecds to principal sh~ll ;
uot extend or postpone tLc: due ~lnte of the montLly inst;iilnicnts ref~~rrc~i to in par:~~raphs I.ind 2 hereoi or r
ch:?nge the amount. ot such iustnlhnents.
10. Borrower Not Releused. F.xtension of tl?c tim~ for ~~:?~•~nent or ~uaiiti~ation o( :~mortizntion of the sums '
~ccureci hv tliis ~~fortg~ge grnnted b~• i.ender to 1u~~ ~i~c~•c•ccor in interest of Iiorro~~~er ~hall not opernte to release.
in .?ny uinuner, thc liabilit.~• of the origin.il Rorm~~~er :~n~l Rorrm~•er'~ ~uccessor~ in interest. I.ender shnl! not be
required to commence ~~rocee~lings agninst. such succe~sor or rcfu~e to extend time for ~~nyment or other~vise modify ~
:uuortizntion of the sums secureci by thic \tort~ugc'hy renson of ;u~~• ~l~man~l ~nacic h~• tl~e ori~inal I3orro~~•er and '
Borrower's successors in interest, ;
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11. Forbearance by Lender Not a Waiver. :1m• forbe3ranc~~ h~• I.ender in exercising any right or remed~•
hereunder, or othenvise at~onled In• ap~~licabic la~~•, ~hal1 not hc n•ai~•cr of or ~~reclu~le the exercise of xny right -
or remedy hereunder.'I'I~e ~uocumment ot insi~r:~nce or the ~?a~n~ent of taxe~ or other liciis or charges by i.ender
shall not he s wai~~er of I.ender's ri~ht to ncceleratc the maturih• of the indebtednes~ ~eca~rci b~• this ~~iortgage.
12. Remedies Cumulative. All remedie~ ~~rovidc~l in tl~i~ ~Iort~a~c are distinct aiid cumtil~tivc to ~ny other
right or ir~nc~h~ ~i~~~icr thi~ \iorfgagc or ,?f~orcicvl I,~• la~~• or ~~c~uit~•. :~u~l m~~y h~~ cxerciseci con~urrentlv, independ-
entlti~ or ~iiccessivelv. ~
. 13. Successors amd Assigns Bound; Joint amd Several Liability; Captions. Tlie co~-enant~ znd agreement~
I~erein contained shall hincl, ,uu1 the ri~ht~ hereunder ~hall inrn•c~ to, the res~iecti~~e~ ~ucce~~or. and assigns of T.ender -
:?nd l;~rm~~•cr, ~uiycct to tl~~~ ~?ro~•i~iou~ of ~r,irag~.~~?h 17 l~c~rcof. :~II rorenant~ .uul a~rcemcnts of Rormteer shall
hc joint :uul ~c~•cral. 'Chc ~a~~tiou~ :in~l hca~lin~. of thc~ ~~:ic:~~r.i~~h• of thi~ ~lort~.~~c arc fa~ ~•om•enicncc oni~- an~i
:~re not to be used to interp?•ct or ~iefinc thc ~~rovi~ion~ lu~r~of.
14. Notice. An~ notice to Borro~~•er pro~•idc~i f~r in thi~ \lort~;ag~~ ~h.tli he ~i~•el1 I)~' i11S11~111~ ~nch notice b~-
~•ertifiecl n~ail :ui~lre_ced to Borro~~•er :it th~~ Y~opert~• :1~i~lr~~~~ ~tatcxl helo~~-. e~ee~~t for am• notic~ require~l tmder ;
~~:u.igra~?l~ 18 1?ereof to he ~it~~n to Borro~~•~r in tlu~ ~n.~une~r ~~re~crihe~l h}• .t~~plic:~ble la~~•. ~n~• notice ~~rovidecl ;
for in this \[ortgage ~Lall hc rleen~c~l to ha~~e hcen ~i~•en to Borro~~•er ~~-I~en ~i~•en in th~• u~t~nner ~iesi~n:~te~l herein. ~
15. Unitorm Mortgage; Governing Law; Severability. 'Ci?i~ fo~~n of ~nort~~?~c ~•ombi.~~~ imiforni co~•ennnts ~
ior national use and non-uniform co~~enant~ ~~~itli lin~itc~i ~~arintion~ h~• juri~diction to cor~stitute a uniforn~ seeu- ;
rity instri~ment covering real ~~mpert~•. Thi~ \[ortga~c ~li:~ll he ~o~•erne~l h~- the la~~• of the juris~~iction in ~vhich ~
the Property is located. In th~ e~•ent that an~• ~~ro~•i~ion or c~lause of this ~Iortga~c or the \ote conflicts with ;
applic~ble la~~~, ~uch conflict ~hal! not af~'ect othcr ~?ro~•i~ion~ of thi~ \lort~agc or thc \ote ~vhich can he given
effect ~vithout the conflicting ~~ro~•ision. and to thi~ cn~l the ~n•o~~i~ion~ of tlie \tortgage aml the \ote are ~ieclared
' to be sever~ble. -
16. Borrower's Copy. Borro~cer ~hall 6ic furni~i~e~i .i ~•onforn~ed co~~}• of thi~ \[ortgage at the time of execu- ~
; tion or after recorclation l~ereof_ }
? 17. Transfer of the Property; Assumption. If :~ll or am• l~;~rt oi thc Propert~• or an interest, therein is sold
F or transfcrred I?~~ Borro«~er ~~•ithont I.cncler'~ ~~rim• ~critten ~~on~ent. ~~xcl~idin~; ~al the rreation of a lien or encum-~ ;
~ brance ~ul?ottilinate to thi~ ~[ort~;a~;c. ~hl tfu~ ~mation of ~nu•~lia~c~ ~nrn~e}• ~ecurit~- interc~:t for household appli- -
~ ances. Ic) a tr:in~fer I?~- ~Ie~~ise, ~lescent or I~~- o~~~~ration of la~~- u~~on th~~ ~lc:ith of a joint tenant or i~U the ~rant of _
; :u~~• leas~~hold inter~~t of tlircc }~car~ or lc~~ not ~•ontainiu~; ;?n o>>tiot? to pur~•h.i~e, i.cudcr ma~-. at Lender's option.
~ ~leclare all the ~wn~ :c~•ured 1?t• fiii~ ~tort~:i~;e t~? Le inuuc~liat~~l~- ~hu• :in~l i~:~rahlc~. 1.4nrler ~h.ill l~a~•c ~~•ai~•gd such
' option to acc•eler.?te if. prior to the ~ale or trau~i~~r. Lrn~lc~r :uul tlie ~?er.~on to e~•how thc Ycopert~~ is to be sol~ti or
~ transferred re~ch agrcc~i~ent i~i «-riting fhat the ~•rc~lit of ~ueli ~~cr:on i~ ~atisfactor~~ ta Lend~~r an~l that the int~rest
~~ayable on the ~ums ;ecum~l b~• thi~ \Iortga~;c ~lic?11 he c~t ~u~~l? rut~~ .i~ I.en~ler ~hall re~~uest. If 1.ender has waived
§ the option to :ic~•eler:ite ~~ro~•idcYl in tliis ~~aragra~~li 17 .?n~l ii Rorro~~-er'~ ~uceessor in intere~t lia~ e~ecutecl a writ-
~ ten assumptiou agrec~~icnt :iccep~al in ~vritin~; i,~• I.~~n~le~r. L~~n~ier ~h:ill releas~ Borroa-cr irom all ohtigations iin~er
~ this \tortgage a~~d tlie \Tote. .
~ If I.en~ler exercises ~uch o~,tiou to acceler.~t~•. I.encler shall ~nail Rorro~~~cr uotice a~:~e.~eleratiou in accordance
~ o~ith ~~araKra~ii? 14 i~ei•eoi. `u~h nofi~•e~ •h:ill ~~r~?~-i~ie ~?erio~l of not Ic~:: than 30 ~la~•~ from th~ date the notiee is
~ ~uailed ~~~itl~in ~~•hich Borro~~•cr utia}• ~r,~}• tl?e smn~ declarcrl ~lu~~. If Borro~~•er fait~ to ~?a~~ wcl? ~un~~ prior to the ~
~ ez~~iration ~~f ~u~h ~?erial. Leu~ler iuu~-, ~~-ithout f~u•th~~r noti~•~• or ~Iciu.?~~~1 on Borro«•cr. im•oke .un• remedies per-
~
~ mitted b~• paragraph 18 hereof.
_ \~,~-t"~~r•ux:~i ('~,~~r:~,~x•r;. {~~?rr~~~c~•r ancl L~~n~l~•r t'~n•th~~r c•o~-~~n:rn1 uncl ~irrec .i~ i'ollo~~•s:
` 18. Acceleration; Aemedies. (~:x~•c~~t a~ ~~r~?~~i~le~l in ~~ara~ra~~l: 17 he~rc~ol'. u~ion Rorru~~•F~r:~ brcach of am- .
- ~•o~~enant or u~recnx~nt of Borrow-~•~• in thi• ~Im•tR:~~e•. inclu{1in~; tli~~ ~~o~•en:~nt~ to ~r,~~• u-he~n ~luc am~ ~ums sscured
b~• this ~lortgage, l.en~ler ~?rior to ae~~l~•rati~?n ~hall n~ai! uoti~~~ to Boi•ro~~•er a~ ~~m~-i~led in ~~aragraph 14 hereof ~
~ .~?ccif~-in~;: I l I tl~~~ brca~h: i'll tlic :u•tion r~~~~uir~~~l to ~~urc• ~u~•I~ hr~~.~~1~: ;3~ .i ilatc~. not Ic•: than thirty ds~•~ from ~
h thc ~h~te th~~ notirc i~ m:?il~~~l io Rorru~~~~~r. I~}• ~~-I~i~~li •uch lima~•h ~nu~t In~ i~ur~~ii: an~l ~4~ that faih~m to cure such ~
r brc.ich on or heforc the• ~latc ~~?~cifi~vl in tlic noti~c n~a~• n•sult iu .~c~eleraition of the sun~~ secured h~ this ~iortgagc
:in~l satle of thc Yropert~~. If thc hr~~.u•h i~ uot ~•ure~~ on cn• h~•for~~ th~~ ~late ~~iecified in the notire, I.ender at I.ender'~ ~
O~t10O 11]!i~' !~(~elxre .ill of th~• ~um~ ~c~~n•etil h~• thi. ~tort~;.?~c to 1?c• inuu~~rliatei~~ duc and pa~able ~vithout further &
~ den~and aml ina~' foreclosc~ thi~ \tort~u~;e~ I,~• ju~lirial ~?ruc~~c~~lin~. L~•n~ier ~l~ali be cntitlerl to callect in •uch proceed-
~ ing all e~~~enscs of foreclosure, in~ludinn, hut not liniit~yl tu, reason.ihle attorne}~'s fee~, and costs of documentan•
t evidence, abstracts ,ind titic re~~orts. ~
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