HomeMy WebLinkAbout0379 ~ l.eadcr`s writtea aareeaneat or applicabk law. Borrowe~ ahatl pay the amount ot a11 rpottaaje insuranoe premiurra io tbe
maaae~ provided under par~apb 2 h~+eof.
Any atnouots disbursed by Lende~~nwnt to tha parag~aph 7. with iaterest theroo~. shall become additional
indeb~ednw ot Borrovre~ securod by this Mongage. Unless Borrower and [_enikr agooe to othe~ te~ms of paytnen~ sucb
amou~a shdl be p~yabk upon noticc from l.cnder to Bornowcr roqua~ing payment thcroof. and shall bea~ interat fmra the
date o[ disbursa~ent at the nte payabk from timc to time on outttandin~ principal under tho Note unkss paymeAt of
irtterat at such ate would be contrary to applicable ~aw. in which event such amounts shall beu i~te~est at the hi~hat rm
permissibk undec applicabb law. NdhMg oontah~od in this paragraph 7 shall require I.ender to incur any oupwae or tate
any actioa l~erainder.
s. t~eetlw. Lender may make or cause to be made rcasa?abk cnlrics u~wn and inspections ot the Ftopctty. provided
that Lender shall Sive Bomo~wrer notice prior to any such iRSpoction specifying reasooabb cause thenfor related to I.e~de~'s
interest in the Property. ~
! Cu~ies~. '11~e proceeds of any Award o~ claim for dxmages, diroct or consequential. ie oonnectton ~rith any
condemnatjon or othet taking of the Property. or paK thercof, or for conveyana in lieu of condemnation. are herebq assigned
and shall be paid to Leede~.
in the event of a total takipg of the Prope?ty, the praceeds chall 1~e applied to the sums xcured by this Mortaaae.
- with the exce~, if any. paid to Honow~er. 1n thc event af a partial taking af the Pro~erty, unkss Bormwe~ and I.ende~
otherwise agrx i~ writi~. the~ shall be applied to the sums mured by this Mortgage such p~oportion of the pmceeds i
as is oqual to that proportion which the amount of the sums sectircd by this Mortgage immediately prior to the date ot
taking bears to the fair markd value of the Property immediatcly prior to the ciate of takina, with the balanoe of the proceeds
paid to Borrower.
It the Propetty is abaadoned by Borrower, or if. after ~ptice by I.ender to Borrovrer thst the condemnor offe~s to malce ~
an awa~+d or settk a claim for damages, Borrower-fails to respand ta t_ender within 30 days after the date such notioe is
maikd. I.ender is authoriaed to colkcL and apply the proceeds, at i.ender's option. either to resto~tion or repair of the
Property or to the sums securcd by this Mortgaga
Unkss l.~nder and Borrower othenvix agrce in writing, any such application of proceeds to principal shal) not extend
or pustpo~e the due date of the monthly instalimcnts referncd to i~ paragraphs 1 and 2 hereof or change the arnount of
such installments.
lA. Ro~e~wer No! Relase~, Extension of Ihc time for paymeot or modifkation of amortizatio~ of the sums sxured _
by this Matgaae granted by Lender to any succe.csor in intereu of Borrower shall not operate to reksse, in any manner.
. the lia¢ility of the oriainal Bomower and Borrower
e successors _ in interest. I.ender shall not be required to commenoe
procee.imgs against wch sua~essor or refuse to eztend time for payment or otherwix modify amortiution of the sums '
secured by ihis Matgsae by reason of any demarid made by the original Borrower and Borrower's successon in interest.
11. Fo~r~..K y t;~.~r Na, w,a.K. Any forbea~ance by l.ender in exercising any right or remedy hereunder, or
otherwist altorded by applicabk law, shall not tx a waiver of or proclude the exercise' ot-any such right or remedy.
The procurement of insuranoe or the payment of taaes or other liens or charges by Lender shaU not be a waiver of Lenders
risht to aceeknte the maturity of t6e indebtedness securcd hy this Mortgage;
12. Aea~eaics Ctis~hNre. All remedia provided in this Mortgage are datinct and cumulative to any c~ther right or
amedy under this Mortaage or afforded by law or equity, and may be eaercised concurneotly, indepet~dently or~ successively.
13. 3~eeesers s~i A~ Dorad; 7o~t aad Se~eral i.~; Csptioas. 71~e covenants and agreements herein
oontained shall btt~d. and the rights~hereunckr shall inure to, the respective uxoessors and usigns of Lender and Borrower,
wbject to the provisions of paraaraph 17 iiercof. All covenants and agroements of Borrower shall be joint and several.
The captian and he~ings of the paragraphs of this Mortgage are for convenience only and ane not to be used to
interpret or de6ne the provaions hercof. -
14. Notiee. Bucepl for any notioe rcquircd under applicabk law to be give~ in another manner. (a) any notice to •
Boaower pmvided for in this Mortaagashap be given by maiting such ootioe by cenifiod mail addressed to Borrower at
the Propert~r Address or at wch dher address as Borrower may designate by ratic+e to T.ender-u provided herein, and
(b) any notioe to I.ender sliall be givrn by certified mail, retum receipt requested. to I.eoder
s address statod herein or to
such other addras as Lender may d~signate by notice to Borrower as provided herein. Any notice provided tor in this
Mortgage shall be deaned to have bxn given to Borrower or Lender when given in the manner designated hercin.
1S. U~itorw Mo~f~e; Gonrwi~ I,aw; Sererability. This form of mortgage combines uniform rnvenants for national .
use and na~-nniform oov~aunts with limited yariations by jurisdiction to cor~stitute z uniform security insirument oovering
teal property. 71sis Mortgsae ahall be governed hy the law of the jurisdiction in which the Propetty is located. In the
event that any provaion or clause of this Mortgage or the Nwe conflicts with applicabk law, :uch conflict shall not affoct i
I~~ other provisions of ihis Mortgage or the Note which can be given effect without the conflicting prnvgion. and to this ;
~ md the pmv~ioos of the.Mortgage and the Note arc declarcd to 1x severable. '
I 16. >on~swe~s Co*y. Borr+ower shall be furnishcd a canformed rnpy of the Note and of ~this Mortgage at the time
' of exocution or aher recordation heroof. ~ ~
17. 'ha~ter ot ~e Tro~art~; A'ww~ptios, if all or any part of the Properiy or an interest therein is sold or transferrcd ~
by Borrower withont Leode~s prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to ~
this Mortgaae, (b) the cr~eation of a punchase money security interest for household appliances. (c) a transfer by devise.
desoent or by opention of law upon the death of a joint tenant or (d) the grant of any leasehold interat of three years or kss
not eoMaining an option to pur~chase, Lender may. at Lender
s option. dxlare all the sums socured by this Mortgage to be - ~
immediately due aad payabk. La~der shall have waived such option to aocekrate if, prior to the sale or trar~sfer, Lender ; ~
and ihe arson to whom the Pr~e~y a to be sold a transFerred rach agnxment in wri~ng ihat the credit of wch person ~
is satisfactory to Lender aud thatthe interest payabk on the sums sxured by this Mortgage shall be at such rate as Lender
sha11 requat. lf La~der has wntivod the opion to accekrate provided in this paragraph 17, and if Borrotiver's successor in
~ inte~+est has executed a writtea aawmption agreemrnt acoeptod in writing by Lender. I.ender shall release Borrower from all
' obligstions under tbis Mortaage and the Note. ~
If Lender exercise,s wch option to aecekrate, Lender shall mail $orrower notive of aocekntion in accordance with
, puagnph 14 her+eof. Such ootice shall provide a period of not less than 30 days from the date ihe notice is maikd within
~vhich Borrowe~ nfay pay the sums declarcd due. If Borrower fails to pay wch sums prior to the eapiration of such period.
-l~nder may. arithout further notice or demand on Borrower. invoke any remcdia permitted by paragraph lA hereof.
Nor+-Ut~nFae~t Coveri~trrss. Bormwer and Lender turther covemnt and agrce as fopows:
ls. Aeadaatior, Re~eiia. Bsce~t a~ pro~ided ~ p~asrspr 19 Uer~of. ~lo~ loevwa's breac~ of ~y co~e~nt ar •
~ ~t at ~On~swer i~ tY~ Mwf~e, ~ tre co~esaNs to py w6ew ~e aq sa~ sa~rei b~ t~ Morha~e, I.e~er
p~ior !e aeceieiatlo~ iaf ~ai ~otiee 10 ~rower as proNied h~a~Y 141~ereat (l) tre brescr; (2) t~e a~liow
req~ir~ai 1a e~e~e wei ie~eaek C~ a~Ie. ~ot less flm 3~ dap f~oiw tbe date tre ~wtke ts oa~ea b Sorrswer, iq wrieb ncl ~
bre~cr ~a~t tie a~e~ si tiat tail~e b erre arcL breael~ oa or before t6e date a~eciRea L tre ~ofice w~ tes~it i~
sec~der.tlo. oe t~e ..r .ee.ea br u~r A~[o~.se. ferecwau+e ry i.aie~l rr«ee+i~ s~ .ak •t ere rro~t~. 7~e .otioe ~
iiai.f~ i~I~ iar~er d ttie ri~M b~eida~e atter sccekatfoo a~i t~e ri~IN b arert ~ tre foreeNwre troeee~
tre ~o~-rsrle~oe ~t a ieta~lt er asy wrer ietere of Eorrewer to sccderatio~ s~ torte~oare. ~ fre 6naer. i~ ~ot c~ei a~
or 6eEore ~e iWe ~ee~14i f~ t~e ~otic~e, I.e~ier at i.e~ier's oNio~ ~ dechrt a~ at tre aHS sec~eei ir~ t~Y Mo~e b be °
im~ i~e ri waYe wltro~t t~tie~ ie~a~i a~d ~ foreelose tNr Mor~a~ 67 ~
be eatWei ~o eoMet i~ s~ ~noeeii~ a~ e:peaus of toralowre, ~cbai~. b~t ~ot vitei IQ, re~~iie attor~eys tees. ~
a~i eab ot ~e~ir~ e~lieso~, aistr~cl~ a~i Wk reprl~.
1!. 1~enw~e~"a 1t~M 1~ A~drhta Notwithstand'mg Lender's soakntion of the sums sa~red by this Mortaase.
Borro~ra slyll have t6e ria6t to have any proccediogs begun by Lender to enforoe thi: Mortga~e discontinued at any time
~ s~ '
80~KG~ FACE c~~