HomeMy WebLinkAbout0395 ~ ~
t_e~de~'s w~tte~ a~roement or applicabb law. Bomowct ~ha11 pay the annouM ot al! mort=~e inswaasa premiums in the f
manner provided under pansrsph 2 h~reot. :
Any amou~b disbursed by t.ende~ pursuant to this parn~raph with inte~st thercon. sh:ll beoome additiond ~
indebtedness ot Borrowcr secured by this Irtort~nae. Uokss Borrovre~ and [.eadc~ asrce to other ternu of papmeot. wch !
amounts shall be p~?ribk upoe nwice from I~rnder to 8om~wer roquatirtt paymcet lhereot. and shsq bear interat tran tha ~
date ot dhbur:ement u the rate paysble irom time to time,on out:tandina principal under the Nde uniess paya~ent ot
intereu at surh rate wou{d be cantrsry to applicabk law, in which eveet wch amounh shall beu intenst at the hi=l~at rab
pern?itsibk undcr applicabk law. Ndhina containod in this paragraph 9 shall requic+e [.onder to incu~ any axperee ot take
any action hcreunder.
s. las~ectio~. I.ender msy make or cause to be made reasooabk e~tries upon snd inspatioc~s of the Froperty. provided
. lhat Lendet shall give Borrower notice prior to any such inspoction spocifyin= rca:omabk cause thercfor related to I.ender's
interost in the Pnope~ty. ~
Cosdc~adow. The proc~rds of any award or claim for damaga, dincl or consequential. in connection ~vith sny
condem~a~ion or other taking of the Propeny. or paM thercof, or fo~ conveyance in lieu of ca~demnation, are hen;by assigaed
and shall be paid ta Lende~.
in ~he ev~nt of a total taking of the Pmpeny, the proceeds shall be applied~ to the s~~ms securcd by this Mortgaae.
with the oxcess. if any, paid to 8orrower. ln the event af a partial laking of the Property, unkss Borrower and Lendet ~
othcrwisc s,groe in writing, there shall be applied to the sums sccund by ihis Mortgage such pmportion of ihe p~ooeeda
as is equal to that proportion which the amount of the sums securcd by this Mortgage immediately prior to the dste of ~
taking bears to the fair muket v~Iue of thc Propeny immediately prior to the date oi taking, wiih the balanoe of the proceeds
paid to Borrowe~. . ~
If the Property is abandoaed by Borrowe~. ar if, after notice by i.ender to Borrawer that the candemnor ot[ea ta malte -
an award or settk a claim for damaga. Borrower fails ta respoad to ~~nder within 30 days attet ti~e date such-notice ia
maikd. Lende~ is authorined to cotkct and appty the Rroceeds, at l~enckr's option, either to restoration or repair ot t6e
Property or to the sums sccured hy this Mortgagc. ' -
Unlen Le~der ar~d Borrovv~r othen~risc agreo in writing, any such application of pracads to principal shall not eactend _
or postpone the due date of the n~onthly- installments referred to in paragraphs 1 and 2 hereof or change the amount of -
such instatlments. ;
1~. sorr~uwer Nof Rekasei. Extcnsian of the time fo~ paymcnt or moditkation of. amortization of the sums secured
by this Mongage_scainted by i.ender to any successor in inte~e.st of Borrower shal) not operate to rekue, in any manner.
th~ ~~abilitY of the original Bomower and Borrower`s successors in interest. i.ender shalt not be requirod to comm~mce :
p~oceedin~ _~nst suci~ woo~ or rcfuse to extcnd time for psyment or othcrwise modify smoriiutwn of the sums
secured by this INortgsae hy reason ot any demand made by the original Bomuwer and BorroarePs successo~n in inurat. .
1l. Fo~ieararce ~p t.e~ie~ Not s Wairer. Any forbearance by I.cnder in exercising any right or nmedy henunder. or
otherwise affordod by applicabk law, shal! not be a waiver of or prociude the exercise of any such right or remedy.
The proct~rcment of insunnoe or tbe payment of tues or other lier~s or charaes by I.ender shall not be a waiver of I.ande~'a
right to accckrate tt~ maturity of the indebtedne~ secur~ed hy this Mortaage. - -
12. Reoeaies Ltis~hfha All r~medies provided in this Mortgage are distinct and cumulative to any other right or
remedy uoder this Moctgage or dEordod by Iaw o~ equity. and may be extrcised concarc~er~tly. independently or suoce~irdy_
!3. Skeearers a~i AsiRat >oasi: Joia! and Seretal i3abiiryr, Cs~tio~s. "il~e covenants and agrcements herein
oontained shall bind. and the rights hercuader shall inurc ta. the t+espective sua~ssors a~d usigns of Lender aod Borrower_
subject to ihe provisions of paraaraph 17 hereof. . All covenants and agreeme~ts of Borrowe~ shall be joint and sevual.
'll~e captions and hadin6s of the pangraphs of thia Mortgage ane for oonvenier~oe only and arc not to be usod to
interpret or define the prov'aio~ hereof.
14. Natiea Exoept for any notioe requircd under applicabk law to 6e given in another manner. {a) any notiae to
Borrovrer pruvided for, in this Mortaage shail be given by mailing such notioe by certified mail addn~ed to Borrow+er at _
the PmpeAy Address or at such -other address as Borrower may desigAaic by. noticx to I.ender at provided ~herein, and .
(b) any notice to Leader shall be given by certi&d mail, return rooeipt requestod. to i.ender's address stated herein or to
such other addrws as I,ender may designate by natioe to Borrvwer as providcd hercin. Any notice pravidod for in this
Morigage shatl be damed to have been given to Bonower .or [.ender wf~en givea in the manner designatod hercin.
1S. U~or~ 1Mori~e; Go~er~ I,aw; Serersbilitr 'i7~is torm of mortgage combines uniform c~mrenants for natioaal
use and non-uniform oovenants with limited variations by jurisdiction to comtitute : uniform socurity instrument omrorina
rea! property. This Mort~e shall be governod by the law of the jurisdiction in which the Property is locatod. In the
event that any provision or clatae of this Mortgage or the Tfote confticts with applicable tsw. such conRici shal! not alfoct
other provisions of this Mortaage or the Note which can be giren effoct without the conflicting provision, and to th~
end tbe provisions of the Mortgage and the Not~ aro declared to be severabk.
lf. Son~owa's Cop~. Borrower shall be furnished a confornxd copy of the Note and of this Mortgaae at the time
of execution or a[ter recordatan heroof.
1~ 7'iarfe* af ttie lnu~at~; Aeaan~llo~. If all or any part of the Property or an interest thercin is sold or transferrcd
by Borrower withart Leoder's prior written ~ronsent. excluding (al the creation of a lien or a~cumbrance wbordinate to
this Mortgage. (b) the creation of a pur+clwx mo~ey security interat for household appliancas. (c) a transfer by devise,
descent or by operition of law upon the death of a joip4 ten~nt or (d) the graot of any kasehoad i~eterest of three years or less -
not containiog an option to pnrrhase, Leader may. at Cender's option, declare sll thc sums aecured by thia Mortgage to be
immediately due aed payable. l.ender shall hava waived such apion to aaxkrate if, prior to the sak or transfer~ i.ender
and the person to whom the Property is to be sold or transferred rac9~ agroement in writing ti~at the credit of such peraon
is satisfactory to t~ender aad that the iMerest payabk oo tbe :turn soc~rcd by this Mottgage shall be at wch nte u Le~
shal! req~at. If Lsnder l~as wsivod ths option to s~cekrate provided-io this paragraph 17. and if Borrower'a wocessor in
interest has eacocuted a written mumption a~emp~t aooeptod in writing by Lender. i~nder shall release Borrower fram atl
• h!igations under this Mortga~e and the Note.
If Lenckr exercises wch option to aaxkrate. Ler~der sha!! mai] Borrower ndioe of acoekration in accordanoe with
' aragraph 14 hereof. Sbch notioe shall providc a period of not las than 30 days from the date the notice is mai'kd within
hich Borrower maY psY the autns declued due. If Borrower fails to pay such sums prior to the expirati~n of such period.
,:~,.ler may. v~n"tliout ftuther notice or danand on Bomower. invoice any rertudies permitted by Wrsgraph i8 henof.
Not+•Uxt~nt Cov~tsnrrs. Borro~wer and Lender further covenaM and agoe as fdlo~rs: .
li. Aeedaatiar Re~eaies. 8:ce~t as pro~Yea i~ ~ 191~eiaf, ~~onowe~'s 6~eae~ of aq eonea~t K
a~ee~t ot letnrwe~ i~ ~is M«1~e, i~ebd~ tie co~aai¦b to p~ w~ d~e ah s~r aeean+i 6y dds Mo~a~ I.eaier
ptior ts sceeie~afio~ sMt ~~elice Is ~rro~wer as ~ro~iis~ Is ~va~n~Y l4 ber~o[ ~ed~~i~ f
1) tl~e 6eeacr: ttie scffo~
ieq~i tu c~ee s~ tieesei5 a~le, rat tes Ih~ 3~ iqs f~w~ tie i~te Ire ~otke i~ ~aiei ts ~~ower, b wYc~ wcti
brescr art ie e¦e~ a~i trat taiine M atire wd~ Lr+ese6 e~ or reta~e tlie iate s~eliei i fie ~ofk+e rQ ~reait i~
s~cdera~ ~ oe s~ ~ee~rea b ei M~e. t~nedor~ne b j~iki~l ~ si s.~e rt t~e ~ty. 11~e .aks
d~a! firlier i~t~ /~teowa et f~e r~t ~ re~fa~e ~f1a aea~ekfatlo~ asi tre ri~it ts airett i~ /Me h~edw~ ~ne~e~
t~e ~ote~iesee ~t a ada~it ~r aq atYer idere ot ~orrower 1s scrdaaliN a~i ior~clowee. ~ 6~e 6reaeti it aN a~ei a~
or 6et~e ~e ile ~ecliei i~ tre ~Miee, I.eaier M i.eaia's o~Ho~ ~ ieet~e a~ ot 8ie sns u~esroi iy Ifds M~~e fs ~e
irse~i~M~ ~e ~i ~qabie wif~o~t t~rt4sr rewi ard ~ to~c~ore 8~ft Mortsa~e ~7' j~ifcW lncee~. I.e~ie~ ~i
be ~~o ~eieet i wei ~neeeiY~ a~ esperes d to~eelowre, i~elrii~. l~t Mt Ywilei t~ rew~ii~ rt~ese~'I~ tea,
a~i cosls ot ~ e+~iie~t~, aWltaeb a~i dtlt r~p~i~.
1!. lenwwar's R~Yt p RsirhRe. Notwitf~standina Lender
s acoekrstion of tbe sums secured 6y tfus Mart~e.
Borro~va shall bav~e t6a ria6t to 6ave any proceediogs begun by Lender to enfora t6~ Mortp~e di:con6nuod at aay time
` -
600x~G PACE c~~~