HomeMy WebLinkAbout2988 8. Inspection. Lender u~n~• nuik~• or ~~nu~~• tu h~• ~u:ul~• r~•t?.unaibl~• ~~ntr~~•, .~~~cu ,u~~l ins~~e~•tiou~: ol the Yrop-
crty, pmvidecf that I.cndcr ~hall ~i~~c 13urro~~•~~r noti~•c ~~rior tu ~ui~~ •url? in•~~c~ti~?n ~~~c~•ifying rc~a~onabl~ cause
therefot related to LcndQr's intem~t in thc Pro~?crt.y.
9. Condemnation. 'Che procec~is oi :u~~~ a~~•ar~t ~tir c•Isin? for ~i:unu~e-. direct or consequential, in connection
~~•ith any condemnution or other taking of th~~ Yrop~•rt~•, or ~?urt th~~reof, or for ~•un~•e~ancc in licu ot condemna-
tion, are hereby a~~i~nM1 amt ~hall be paid to l.enilcr.
In the e~~ent of a~totnl tnkin~ of the Yroj?ert}•. tli~ ~~rcx•~•~~I~ •hull i~~• u~~~~lic~l to the ,uni~ :e~urerl by this \iort-
~;agc, a•ith the excess, if any. ~?si~l b Borro~~•~r. In tl~~• c~~ent o( :i ~mrtiul tukin~; oi thc Yn~~~~~rl~~, unless Borrower
:uui I.ender other~risc agrec~ in ~vritinfi, them ~hall I~e n~?~?li~yt to ih~• ~um~ se~~ur~vt h~~ thi~ \Iprt~uge such propor-
tion of the proceed5 as is equal to thnt ~?raportion ~~~hieh tl?~ :~u~ouM of the swu. ~ecurc~i by this \•[ortgage imme-
~iiately prior to thc dntc of takin~ henr.• to tl~c fnir iu.irk~~t ~•alu~~ of tlii• Yro~?ert~• inunediatel~• prior to thc dutc of ~
taking, with the I?nlancc of thc ~»bcce~l~ ~?nid to 13orro~ecr. '
If the Propcrt;v aban~loned by I3orro~ver or if after noticc I~~• I.cuder to Rorro~~•er that the conde~nnor offe~
to innke u~~ a~~~nrd or ~ettle a ~laim for ~innu~fic:, Rorro~~•er fail~ t~ respon~l to I.en~ier ~eithin 30 ~la~~s of the date
uf sueh ~~otice, I.cncler i~ :urthorizcci to collect :~n~l a~~~?I~• the ~n~oc~•c~l~ ut I.cuder'~ optiou cither to restoration or +
repair of the Property or to th(r ~ums secure~l b~~ tl?i~ \lortgu~r. ~
Unless Lender and Borrower other~vise ugree in ~vriting, any such npplication ot proceeds to principal shall
not extend or postponc ilic due date of il~c monthly i~ist.~llu?c?~1. rei~~rm~l to in paragca~?lis I and 2 hereof or
ch:iilgC tI1C S1i1tOUllf Of SIICIl 111StAI~I11CI1tS.
10. Borrower Not Aeleused. F.xtension of thc fin~c for p:i~~mcnt or malificntion of an~ortizution of thc sums
secured ~y-this ~Iortgi~ge grnntecl b~• T.ender to nn}~ ~uccessor in interest of BorroH•er ~hall not operate to release, '
~n rss~~ 2nnnner, th~ linbilit~• of the oriRinal Borro~~•er and 13ori~~~•~~•'s successors in interest. i.ender shnll not be
require~l to commence ~~ro~eedings a~ainst sucl? succe~.sor or refu~~ to exte~i~i time for pn~ ment or ot.henvise modify
iunortization of the suros secumd t,~~ thi~ \Iortg.~ge h}~ reasou ~f :ui~• ~tc~nxnd ~uade h~• the ori~inni Borm~~•er and
Bormwer's suecesso~ in interest.
11. Forbearance by Lender Not a Waiver. :1u~~ fonc~arai~cc i?~- I.ende~• in exercisin~ an}~ ri~ht or remed~
hereunder, or othenrise at~onied b~• :?p{ilicable lu~c, .i~nll not h~• i~ ~~•ai~•cr of or ~~reciuclc the exercisc o` any right
or reme~i~~ hereunder. Thc procurrment c?{ insurnnce or the jm~-nieut of t~~e~ or oth~r licn, or charge.s hv I.ender
sh~ll not he :i ~~~:ti~•er of I.ende~'~ right to a~celcrate thc roatnritv of tl~c indebtedne~.~ secureci bl' this ~'(ortgage.
12. Remedies Cumulative. A11 re~n~~ciies providevi in thi~ ~lort~nge are dist~inct and cumulntive to any other
right ur rrmed}• u~u1~~r fhi, \iort~ugc ~~r .i('For~lc~l la~~- ~r ~•quif~•. am1 ~un~~ 1?c exercisecl concurrently. inciepend-
ently or ~uccessivel~•. !
13. Successors and Assigns Baund; Joint and Several Liability; Captions. 'Che co~~cn:?nt~ 1nd a~reement~
herein ~~ontaineci shall i?ind, :~n~l thc ri~l~t~ licreuuder =Lz11 inur~~ to. thc rc~pectiv~ ~uc~c~~or~ and :~ssign. of T.ender
:u~d liorro~~-er. ~tihject to the pro~•i~irn?~ ot ~?:~r.tc;raph 1 i h~r~•~~i. :~li co~•~•nant~ :u~~l .i~rc~cment~ of Borm«er shail
{?c joint and ~e~-eral. Thc ~~a~~tion• anil he.idin~~ of th~• ~~sr.i~:r:?~~h~ ~~i thi~ \1~?rt~agc arc fa• ~•om•enicnce only And
:?re not to be u~ed to inter~~mt ur ~lefine the ~~ro~•ision~ herc~of.
14. Notice. :1n~~ natice to Borro~ti•er ~n•o~~id~~i tor iu thi~ ~lort~;:~~~~ :l?all he ~i~-eu h~• ~nailiu~ ~uch notice b~•
~•ertified u~ail :uicire~~c~l to Borrn~~•~r at tiic• P~opert~• :\~l~lr~~~~ ~tute~l I~~~lo~~-, exce~~t i'ar an~• uotice requireci under
~~:u•:~~r.?ph l8 hrreof io 1?e ~i~~en to Bon•o~~-cr in thc• in:inn~•i~ !~?•e~~riire~l I~t- a~~~?lic~,lhlc la~~•- _1n~~ ~ioticc pro~-i~ic~l
ior in thi~ \tort~a~c ~hail Le deen~c~l t~i ha~•e hec~n ~;i~•~n tu Rorro~~-er ~~•I,rn gi~•c~n in tha iu~nner ~iesi~natc~i herein.
15. Uniform Mortgage; Goveming Law; Severability. "I'hi~ fonu of mort~agc ~~amhine~ uniforro co~•enant~
for national usc auci non-tmiform ~•o~~cn.?nts ~~~itL lin~itc~l ~•ariatiou, h~- juri~diction to cou~titute a uniform secu-
rity instn~meut ca~~erin~ real ~~roperty. Thic \IortgaTe shal) I~c s;o~~erne~l h~- thc la~r of thc jurisdiction in which
the Yroperty i~ locntecL Li thc c~~ent tliat :?m• ~~ro~•i~io? ur ~•lai~~e of thi~ \Iortgagc or the \otc conflicts ~vith
:~pplieaUle la«•, such ~onflict. ~hsll no! afT~ef ott~er ~~ro~~i~ic~n~ s?i thi< ~[ortgafie or the \ote ~vhicl~ can he given
effect ~+•ithout the ~onfliefing ~~ro~•i~ion. an~l to thi~ c~n~l tLc ~~mt•i~ion~ ~f tl~~ \[ottgx~e :uu! the Note are declared
to be ~everable.
16. Botrowei s Copy. 13orr~~~•cr ~I~all bc fiirni~h~~~1 ~•o~iiornu•~1 ~•o~?}• oi thi~ \lortga~e at the t.i~ne of execu-
~ t ion or after reconlation hcrcoi.
; 17. Transfer ot the Property; Assumption. If :?ll or an~- ~~:irt ai the Yropert:~~ or an interest therein is sold
~ or transierred 1?~~ iiorron•cr ~~•ithont t.en~lcr'~ ~+i•ior ~+-ritr~•n ~•on~c~it. ex~luding ial tl~e crcation ot a lien or encum-
~ brauce ~ul~ordinat~~ to thi~ \[ortKa~;~, ih~ tl~~~ ~~r~:ition ~~l ~~turlui~~~ ~uouc~• ~ecurit~• intere~t for household appli-
~ :uice:, ~~•i a tran~ler I?~- ~Ic~~i~e. ~Ir•~°e~nt or I~~- ~~~x•r:itirn~ of {.~~c ~~~,~~n th~• ~leath ot a joint tenanf or idl the grnnt of
~ v~~- Iease•i~ol~l int~•re~t ~~f threr ~~c:?r~ or 1~~:- uot ~•~~utain~n~; :~n ~~~rti~?n tu ~nir~•i~asc. Lcu~ler n?a~'. at T.ender's option,
~ ,leclare sll the ~uri: :crum~l tlii~ \I~?rt~,a~c~ t~~ I~~~ iiume~liatcl~- ~t~u~ :in~l ~~a~•:~h1c. Lencler ~hall ha~~e ~~~:?ired such
~ ~~ptiota to :?~~•cler:?tc it". ~?rioi- to tlu• ~ale or traii~i~~r. I.c•mlci• :ui~l th~~ i~er~on to ~vhom the Yroperty is to be ~old or
~ tran~[crre~l reach ugrcenient lll ~~"17UIla tl~at th~~ ~•r~•~lit ~?f ~ucl~ ~~~~r~on i~ =:iti~f:?~tor}• to I.en~lcr and tLat fhe interest
~~uyublc on thc ~wus ~ecurcvi 1?~• thi~ \iort~;a~c ~Ir?1l 4~~~ ;it ~ui•!i ~:n*.~• :t~ i.c~nilcr ~ha11 re~~uest. If t.ender has ~vaivecl
~ the uption to :u•~•c•ler:ite ~rro~•idc~l in tl~i~ ~~aragra~~l~ 17 :uui ii Rnrru~ce•r'~ ~ucces~or in interc~t La~ ezecuted a wrif-
~ ten usrutuption agr~en~cnt ac~~~~t~•~I in ~~-riting h}• L~•n~lcr. I.t~n~lrr ~hall rclca~c Bon•o~ver from ull obligations imder
~
~ t his ~~ottga~;c an<l the ~iotc.
~ If I.euder e~ercise.~~ ;ucl? option t~ :iccelerutr. I.en~ier ~l~:~il ~nui! 13or~•o~~-rr notice oi aceeleration iu aceordanee
~~~itli ~~ar~t~r:t~rh 14 hercai_ ~u~~l? ~iotice ~I~all ~~ro~-i~l~• a ~~i~riu~l ut »ot 1~~:• than 30 ~la~': front th~~ ilate the notice i~
x u~siled ~~~ithi~~ «-Lich Rorrotire•r u~,i~- ~>a~• 11?~~ ~~m~• ~ieclsr~~~i ~iu~•. li I3orru~~-cr fail~ to ~u~h ~iuu~ prior to`thc
' ~•~~~iration nf ~uc!? ~?rricNl. Len~te~r ~na~•. ~~•ith~?irt i~n•th~•r n~~ti~•~~ ~~r ~i~~inau~i on Borro~~•er. im•ok~ am• reme~iic~ per-
~ mitteQ i~y ~,ara~rsph 1$ hcreof.
- \~?a ~['~thu~ia~ ('u~•t:~.?~~r:. li~~rr~?~~~~•r.ui~l (.~•n~l~~r Yurtli~•r ~•u~•~~~ia~rt .~n~l a~rf~~~ .i~ 1'allo~~-~:
~ 18. Acceleration: Remedies. 1•:x~•~•~~t ~~ru~~i~l~•~l i~i ~~:u•:+rr:t~~f~ l; I~~~rc~rt. u~?~?n 13orro~~cr'~ hreach of anc
:5 ~•o~•e~u:?nt or :~grce~nent of Ron•o«•e•r in tl~i~ \1~?rt~:~t;~~. in~l~~~link tl~~~ ro~•rnant~ to ~~a~• n•he~n ~1uc :tin~• ~mns secureci i
a !?3• thi~ \lort~;age. I.emle~r ~~rior tv .?c~•~~le•rati~?n ~li:ill ~uail noti~•~• to Borro~~~rr ~~ro~~ide~i in paragraph 14 hereot
~ ,Ereeitt•in~;: I i! th~~ hr~~ai•L; ~'ll tlu• ar•tion r~~yuir~~~t t~~ cun• ~ueli hr~•a~•I?: +:~i ;i ~lat~•. n~~t le~: th~n thirt~~ dat~s froni
~
, tLe ~late thc notic~~ i~ inaile~l to 13orro~~~er. t~~• ~~~hi~~l~ ~u~•h I~r~;u•li mu~t hc~ rur~•~l: .?nii i9 i tliat failur~~ to ~ure such
~ hre.?ch on or h~•Jore th~• ~late ~~mcifie~l iu th~ ni~ti~•~~ in:t~• r~•~ult ~n :tc~•e•l~ration of th~• sum• .ecured b~• thi~ \iort~age
~ .u~d sulc of tlie !'ro~~ert~-. If the hrra~•li i~ not ~•urea on or ~~~~fon~ th~• ~lat~~ ~~?eeific~l in the notice, I.onder at t.ender'~
~ option n~a~• ~1c~•lar~~ all of tht ~uu?~ ;ecure~( 1,}• ihis \1<?rt~;a~;~~ ts~-lic• ~~nn?~~~liately duc: :ind ~?s~•ahle ~~•ithout furtl~er
; den~un~l unrl nir«- foreclo~c thi~ ~Iort~;.iR~• I~~• ju~li~iul ~~r~?c~~e~~lin~; I.f~n~le~r ~hul) Ire entitle~l to collect in ~uch ~iroce~~cl-
' ing ~ll ex~~cn•e~ uf Ioreclotlrre. inclu~lin~. but not li~uiti•~1 tu. i•~;i~onahlr sttorn~~~•'~ tee~. :~nd co~ts of ~locumentan-
.
~ evidence, abstract~ an~l title re~~~c?rt~. ~
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