HomeMy WebLinkAbout0985 8. I~pection. l.eu~lt•!' n~u~' ui~?k~~ ur ~~~tu~~• tu hi~ iir.ul~~ ir:i~ui::?1>i~• ~•uUt~•~ ii~~~~n ~uu) in~p~~i•tiu~is ~~1 th~~ Pro~~-
~~[t,y, ~~rt?~•lilt~cl th:1l Len~l~~r ~hall ~i~•e fiurru+~•rr null~•~• ~~riur t~? :uit' ~u~•li ~ii.~~~•~•h~~u :~~~•cii~•iu~; ri;tsui~ul~le ca~usc
theretor related to I.en~ler'• int~•re.t ii~ the Pru~,~~rtr.
8. Condomnation. 'I'he ~u~crc•~1~ of :ui~~ :«~•.~r~t ur ~•luiiu i~?r ~taiu;~~;~~>. dir~~~•t or ~•or~sc~~uct~tisl. in cant~~ction
a~ith :tnV co~ulei~~uu(ion otr otl?er tul:~n~ ui tii~• I'r~i~~z•rtt•. ur ~~:~rt tiu•rruf, ur 1'c>r ~•u~,~•~~}•:uu•c in licu of condeu~i~~-
tion, nre hereby u~~i~;n~•~) nn~! ~l~:?11 he ~~.~i~! to 1,e~uler.
In thc ci~~~nt of n total txkin~ o~ th~ i'ro!?er~~•. t1~~• ~~rn~•~•~•~h •linll I„• a~q~li~~~l t~? ttu• ~uu~: •r~•u?r~1 1,~~ this ~Iort-
~~igc, ~~•ith the cxc~:,... if :u?}•. ~?i?i~i to Rorro~~•rr. In tl,c• ~•~•~•nt ~~f ~~:irii:~l t;~kiufi oi thr }'ro~x~r1.~•. unlcr~v I;orrower
and l.endcr othcr~~•i<<• a~rcr in ~~riti»~. therc~ ~I~sll in• :?~?~?li~~~{ ~lu~ ~~;in. ,~~~•ur~~~i i~~• thi• \tort~;a~~c ~uch propor-
tion of the pro~~ced~ :is i~ cquiil to thnt ~~ro~~c,rtio~~ ~~~I~i~•i~_th~• :unu~mt ~~f th~~ ~u~r~. ~ccurcvl h~• thi• ~tort~a~e imme-
~iiatel~~ prior to N?c dat~~ uf taki~~~: ~~~r:~r tu the E;~ir ~??:irk~•t ~•.ilu~~ nf ti~,~ 1'ru~?i~rt~• imm~~~liatel~• prior to thc date of
tAking, with tlte i~al:uicc uf the ~u•~xe~xi• ~~:ii~l to Borro~~•er.
If the ~'ro~~ert_S' i, ul~,yn~lune+l I?~• 13orro~~~er or ii ;~iter noti~•e f,~• 1.~•u~lc~• tu liorm~r•cr tl~at, the coudeu~uof• ofierr ~
to uutke an a~enni or scltle ~•lain~ !or ~iiw~a{;e~, i3urro~cer fuils tu re~~?ou~l to I.en~ier ~vithi!~ 30 ~fo~•s of the date
iif such notice, Lender i~ :udhoriz~yl to ~•ollect :u~~t a?~~~~i~• th~• ~~i~uc~~~•~i~ iit t.~•ncl~r:~ o~~tiot? ~>itl+er to restorntiu~~ or
reNair of thc Pro~~crt•}• or to thc• ~uu~~ secun~i I,~~ t Iri~ \I~~r~~;a~:~.
ITnle~ L~~ider :int! 13orro~r•er otherisise nRree iii ~vriting, am~ ,ucl~ npplication oi proceeds to priucil~al sl~all ~
not r~tend c?r ~?ostpone tl~e ~luc cfute of the monthh• in.t;1II11N'ilt~ ret"crre~l ic? in ~~aru~;rai?hs I.?n~1 2 hereof or
rht~ngc tl~c nn~ount of such inst~llments. ~
10. Borrower Not Releacsed. l~,xten~iou ol the tiiue ior ~~a~•~~?ent o~• rooclifi~•atiaii o[ amorti~tttion of the sums .
~ecureci by this \iortguge grnnted b~• Lrn~ler to au~• ~ucce~sor in inter~.t of Borroia~er <h~ll not o~,erate to release, ~
in au~ n~anncr. ttic tiat?ilif~• qf the origin:~l liorro«•er :illt~ I~GI'1Y)H't~l'.~ ~ucce~sor~ i~i interc~t. l.ender ~hall not ix~ •
require~l ta cotTUrience ~>rc~cce~li~~g, agt~ihst ~u~li ~urcc>•or u~• reit~~~• to exten~i titi~e ~or ~~i?ru~ent or othercrn ise modif~•
:~mortizntion oi the `un~s ~ecured h~• thi: \(ortt;a~~ reasou of aii~• ~lenuiu~i ma~ic~ i~~• the ~riQinai Borrower and
Rorro~rer's succe~son in interest.
11. Forbearance by Lender Not a Waiver. :1m• lorbe~rancc~ b~• I.en~Ier in exercisin~ uny ri~ht or remedy
hereunder, or othenvise at~i'orcled b~ ap~~ticaLle Iz~~•, ~h;itl uot he n•ai~~~~r of or ~n•eclude tlie exereise of any right
~~r ren~cvi~• hcrc~i~n~ler. 'I'i?~ procitmnient uF in~~~ran~•e ~~r tlic i+a~•i~~cnt of taxc~ or oflmr Ii.rn~ or chi~rges hy I.ender
shall uot be .i ~ccii~•er of I.eizder's ri~i~t to aeeel~r:?te the m: turit~~ of thc indebtednca~ see~~md h~• this ~ortgage.
12. Remedies Cumulative. A11 r~mMlie: ~~m~~i~lc~l ii~ thi~ \Iort~ag~ are ~listin~t <<nd cumulative to any other
right ~rr rcinech• nu~lrr thi~ \lort~u~c nr :it~onicyl 1~~• I~.~- or ~~nuit~ .~uul mn~• IM ~~cerciseci ron~•urrently, independ-
~~ntl~- or <tic~esci~~el~~_
13. Successors and Assigns Bound: Joint and Several Liability; Captions. '1'he ~o~•enar~t~ an<i ~Kreement,~
I?erein rontaineri ~h~ll hind. :uui ti~c rifihi~ iiert~unctcr ~hat! im~rc• to, tl~~~ res~?ecti~~!~ ~iic~•c~~ur. and a~signs of Lender
:ind Rorm~~~c~r. ~ut,jc~rt to tlu~ ~?rori~ion= e?1 ~r:u:i~:ra~,l? 1 i h~r~•+~1. .1l! ~•~?~~~~~i:int~ :uul aQrrc•~uentc of Borto~rer shall
!~c joint ,ind .:e~•cral. 'Tlic +•a~?tic~u~ :uiii hcading~ of the~ ~~:u•:?~r:?~~h~ ~~f thi~ \tort~a~;~ are for com•enience onlt and
:?re not to be vseci io intE:rp~rt ~ir ~tcfin~ th~~ 2?mri~io??~ h~•rcof.
14. Notice. Am• noticc to I3orro~rcr ~?ro~•idcyi f~~r in thi~ ~lurt~;:t~r ~l~all hc ~i~~cm i?~• mailin~ ~uci~ notice bv
c•ertifie~i uz:til s~i~irescc~l to Rorro~cer _tt th~• P~opcrt~• :\~t~ir~••: •t:~te~~l b~~I~~~~•. ~~x~~pt for .?nr nati:e requirc*~i i~~~der
~r,i~:~~r.~pli 18 h~rcof to hc~ ~i~•~~n to Rorrc~~~•c~r in t6~• iu:tiin~~r {?re~c•rih~~) 1rr aj~~?lic:il,le lr?~~-. .3nti• noticc pro~ide~l
for in ti~i~ Ztort~x~;~ ~hatt he ~lec•i~~~~t to ?ia~•e~ 1?e~e•?~ Ri~•c•n to l3vrron~~•r w•)icn ~i~•en in thc manncr de:i~nnte~i herein.
15. UniEorm Morigage; Goveming Law; Severability. 'Clii~ t~nu ~if njortg3~r ~•oini~inc•~ imiforni co~•cnants
for national u,e au+I non-unifonn co~•enant~ ~~•itl~ limitc~l .:~riatiou~ i,~- juri~dickion to constitate u uniform secu-
rity instnm~ent eovcriu~ rcal ~?ro~~crG~~. 'I'hi~ \tort~a~c ~I~al! Ix ~;o~-crnc~i f?r thc 1a~~- of tl~c jurisdiction in «hich
the Yro~~ertt• i~ ioca?ted. Iu the c.•cnt that um° ~?ro~•i~ion ~~r ~lau:c~ of thi~ \tort~ake ~~r the :~Tote conflicts with
;ipplicable la~c, .ucl~ conflict ~h~ll nof ;?ITect oti~er ~~r~~t•ision< „f tl?i, \Iort~a~e or t!?e~ ~ote ~Shich can F~ given
ef~'ect ~~•ithout thc~ ~•onflicting ~~ro~-ision, a?1~! to thi~ ~n~! thc ~~r~~-i~i~n~ of tlic ~Iortga~c :u~ri the \ote ~re declared
to bc severuble.
16. Bonower's Copy. Borro~~~c•r ~icill b~• fiirnt~lu•~~ ~•~niurnu•~i ~•o!n• ut thi~ \Iortna~c at the titne of execu-
~ion or after reconlation i~ereof.
17. Tsunsler of the Property; Assumption. If all or au.- ~~:n~t of the Property or an inferest. therein is soid
or transferreci 1,~• l;arro~~•~r «•ithont Len~ler'~ ~?rior ~rritt~•n ~•+,n~ent, ex~ludin~ i.?i tlie creatiou of a lien or eneum-
bruncc ~ulrunlinat~~ t~~ fl~i~ \(ortga~;c. Ih~ th~• rrc:?tion ~~f u~~~ircl+:~~~• ~r~r?ne~• ~ecurit~- intere~t ior household appli-
:u~ce~, ici a tr:in~fer h~• ~i~~•i~c. ~le•.r~tN ui• i,~• „~r~•r:~tio~, n~ l:s«~ u~~~~it th~~ ~ieath of joint tenant or id? the grant oi
.~n~- lcase~holc! intrre•<t ~~i tl~rc~~ ~-car: ~~r l~•..~ no~ ~•~mt:tii~in~; :tn ~~l~tiun tu ~~eu•riia~c. t.cnder wa~. at I.ender's option.
~leclare al1 tl~e ~~un~ ~e~•nm~l L~• thi~ \lort~:?ge• t~? I~~ imu~~•~li,~tch- ~!rn• :tnr1 ~~a~•ahle. I.en~icr ~i~31( ho~•e «ait~ed sucii
option t~? :u~~•eler;~tc if. ~~rior to tlie ~:ile or tran•f~•r. Len~irr .~~ui th~• ~~e~on to ~vho?n the Yropert~• i.r. to be sold or
tran~ferred mach agrcernent i~~ ~~-riting t(~at thc ~r~~~iii „i ~ac•i~ ~~er~on i~ >uti~f:actor~~ i~~.ender and thnt the interest
pa~zble on ti~e ~uu~~ ~ecure~i h~• thi• ~tortKa~;c• ~hal! at ~ti~•!, r<it~• a~ I.ei~~icr ~hall re~~uest. If I.ender has waived
tl~e optio« to :i~•~•elerate pr~~~•idcYi in tLi~ ~?aru~r.~~~!~ 17 am1 ii liorro~c~•r'~ ~ucce~~or in intere~t I?us execute~ n writ-
tr~~ a~.~un?ptiun a~rce~nent .u•~•c~?te~l in ~~~ritin~ h~• I.e•n~l~•r. Len~ier ~I~alt ~~cleasc Borrrn~er frrnu all obligations Under
this ~~lortguge a~~d tl~~• Notr.
It I,ender exercise~ ~ucli option t~? acccler:?tc. I,ender ~i?;?il ~uaii Rorroa•cr notice of accelerat.ion in accordancc
«-itl? ~r.u•ay;ra~?h 14 hereof. ~ueii noti~•r ~liaii ~~rc?~•icie ~u~riai of i~ot lt~~~ t4~~in 3Q iiz~•~ fr~m the clate the notiee i~
Ill'31Ie(I «lf~llll tt"IItCIt Rormticc~r n~at• ~~a~• tl~c •ums declarc•~l ~lu~~. If 13orro~~~e~• 1ail~ to ~r?~• such sum~ prior to the
~.~i»ration o! su~•h I~c•rial. 1.ender nu~~•, ~~~ithout iurth~r iiotir~• or ~te~uan~i on Borro~~er, in~•oke am• remedie~ per-
mitted by p.ira~r:~ph l8 hcreof.
~(?ti-i~\Ii~'t)iC\I (~/1\'E~.~xr~. fin~'1'11~1'P1' illl(~ 1~1'11111'1' t~lll't~ll'1' PII\'1•Ilitlli illll~ i1T1'E'P il~ ~~0~10~\'ti:
18. Acceleration; Remedies. I;xr~•~?t a~ ~~n~ri~f~~~f i~~ ~~:+r;~~;i•;~~~I~ 17 ticrcof. ~~~?on liorro~~cr'~ br~ach of an~-
r~,z~~n:int or:~grec•~nrnt of Borro~c~•r in tl?i~ \1~?rt~;:t~;~~. in~lu~{in~ th~• ~o~•~~nxnt~ to i?:?~• ~~~hen i1uc~ am• sum:~ secure~i
i?y thi~ \IortgaKc. I.cn~irr ~~rior tv a~~~•lerati~?n ~Lall iuxil nuticc~ tv Borro~~-~r a~ ~~m~•irled in ~~ara~raph 14 hereof
.~?ecif}•inr: ~ 11 tL•~• l~t~•ach: i'li th~~ x~ti~~n rc~~uiri~~l tu ~•ur~~ >u~•li I?r~~.s~l~: ~:3~ ~iat~•. not :e„ than thirty d3~•, fron~
thc ~1atc thc noti~•~~ i~ n?aile~l to Borr~,~~~~•r. 1?~- ti~~lii~~i~ ~url~ i,rra~•h nn~~t I,r curc~l; an~l ~4? that failur~• to cure ~uch
hreu~h on or i?~•fore th~~ ~lstc ~I?ecifir~! in the notic~~ a~?:i~• r~:~t~lt i~i ar~eleratiun of the sums ~ecun~i b~• this Jlart~a~e
:~nd .ule of tlie Prp~?crh•. If thc hr~•arh i~ not ~~ur~~~~ on or i,c•for~~ thc ~iate ~pccific~rl~in the notice; Lendcr at I.ender ~
option ~nn~• ~Ie~l:irr all of t!u• ;um• ,~cure~l b~• tlii~ \lort~;c?ke to I?~~ iiunTt}i4t~el~ due nncl pa~able ~~ithout further
denian~! and »~a~ forceic?:r tlii~ ~(ort~;uR~~ l~~• ju~li~ial ~~roc•~~eyfin~; L~~n~l~~~h~ll I~e i~ntitletl"to•eoileet in such ~uoceec~-
ing all ex~x~n~c~ ~~f foreci~~sur~~, includin~, but not liniitcKl tu. re.?~unabl~ ~tt~ry•'~ fee~, :tn~i costs of docum~ntar~-
evidence, abstract~ a~i~i titlc re~iort~. • e~ 1/
. - - , ° N,~
- suac~24? Y~cE 985
. .
~ _
i- ~ ~ ~ -