HomeMy WebLinkAbout0183 I.endc~'s v?rittco asr~eemcat or appiicabk l~w. 8orrow~cr sha11 paY tAe amount of all mortgsge insurance premiurtu in the
manner providal unde~ paraga~pb 2 hcreof.
Any ama~~ts disbursed by l.ei~der purwant ~o this wna~~~n with iaterat thercon. shall become additional
in~khtedncss of Borrow~er secured by this Mottaaat. Unkts Borrov?e~ aMf t_rn~fer aaroe to dher tcrms of payment. such
amcx~Ms tihall hc payahk upon ~c.~ice. from t.cndet tu Botn.a~~r rcqucstina paytttent therea(, and sh~l) bear interest fwm tl~
date of disbursemcot at the nte p~yaMe from time ea time oe outstandin~ principal unde~ the Note unless payment ot
intercst at sueh rate wcwld be ccmtnry to applicabk I.w. in which event wch amouar_ shall txar ioteKSt at the hi`hest nte
penniss~'bk w~der apRlicaMe law. Nothin~ rnnained in this pa~a6raph ~ shall rcquine I.ender to incur any expense or take
any actioe hercueder.
S. Iwf~eetM~. I.toder ma) makt or caine to t+e made rcatooaMe enlries upon and inspectiaes af the Property, providod
that l.endet shall aive Borrowe~ nolice ~xicu to any su~h inspection tpecityina rrasonabk cause thereta~ related to [.ender's
interest i~ the Property.
9. C~ The procYrdc of ant• award c?r claim for damaees. dirc~et or consequential, in conneetian with any
rondemnaticx~ o~ dher takina of the Pmperty, or Fsa~t thenr•t. ~x for ci~~~eyance in lieu of ccmdemnation. are heresy assigixd
and shall l+e paid to l~ender.
1n the event of a tc~tal ta?ir?E of the Pn+~+em _ th~ Mc~ce~fs chaD he a~+lied to ~he u~ms s~curcd by lhis Mortgagt.
with the e~cess. it aep. paid ta Bormw~er_ In tht t~cn~ .,f a~nia! tal,ing i,( the Ptoptrty. unkss Borrower and I.ende~ ~
otherwitie agree in writin~e. thc~r shall t+~ applied to ~he wm~ xcureJ M thic Mcxtgage such p~oportio~ ot the procee~
as is cqual to that proponic~ vvfiich thc amount ot the cum. ~urcd by this !Nortgage immediately prior ~o the date of
taking ~xars to the fair maticet value of the Pri~pert~ ~mrn~tiiiatch ~i~x to the Jate c?f taking, with tht balanct of the procetds
paid to Bortnw+er.
If the Property is ab~ndonM by Bcxrrn?rr. or if_ aiter n.vice t?v I.ende~ to Bairn~wer that tht condetnnor offe~s to mulce
an aw~ard or settk a claim for damaRes. Borrow•er faih t.~ re+pc.nd to t ender within ;0 days after thc date such notice is
maikd. I~nde~ is auihaired to rnlkrt and apph the ~xoceedc_ at l.ender'~ option. either to restontion or repair of the
Property or to the sums secarcd b~~ this M+nrtR~R'~. ~
Unlesc I.ender and Borr~cw?r~ cNherwi~ a~erct in writing. am• such appliration of proceeck to principal shall not extend ~
or pcxtpcx~e the due date of the mon~hl~• insullmentc rcfermd to ie ~ragraphc 1 and E hercof or change the amc~unt of
such iostallme~s .
lA. 8o~nswer NW Rs1e~t. F~tensica~ af tF~e time f.x pa~mrnt or mcdification of amcxtization of the sums securcd
by this Mortgage gnnted b~r t.eaier to am uw-ct~x.r in interctit ~f Borrovver ~hall no~ o~+ente ta rekase, in any manner,
the liabilit~ of the original Borrowei and &~rr~.w•er
~ a~ccesv.rc in interes~. I_ender shall ncx he required to commet~ce
proceafings against wch woeessM or nefuce t.~ ectrnJ t+mr for pavmrnt cu Whervuise modifv amorti7ation of the sums
seeured h~• Ihis Moriga~ee by neucri o( am• denuncl made b~ the ari¢inal Bormv?~er and Bcirrower
s weeescc~rc in interest.
11. Forbeara~ce i~ I,ea~ier 1d a Waiscr. ~m fofiearan~-e b~ I.rnder in e«rcising an~ right or remedy hereunder, or
o~henvise affordod by applicahk ia~r. sh~R not t+~ a waiver of or preclude the ecercix of an}• such tight ot remtdy.
The procurcment c~f insuranoe or the paymcnt ot ca:c-c ..r ~~ther liens or charges by t_~nder chall rwt he a v?•aiver of I_ender's
right to accelerate the maturity ot the indcMednzct .azured M thic Nongage.
12. Reaedies C~wsialire. All remedi~s pm. i~kd in thic +lortgage art distinct and cumulative to any other right or
recnoJy under this Mort~taRe ix a}kKdcal br law or equit~•_ -rnd mar he e~erc~sed eoncurrrntly. iedependently or successively- ;
13- S~ccesso~s awi A~s iow~; lo~t .asi Se.eral I~abilY; faMtioRS. The covenants and agreementc herein
contained shall t?ind, and the ri~hts Ix~runder shall inurc to. the rrspective uiccecsc~rc and accigns ~f l.ender and Borrower, .
4
subject to ~tx pmvicioRS of paragraph 17 hcroc?f. All ~rovrna~ts ancf agrcemeotc of 8orrov?cr shaii t+e joint and several.
71~e captions and hcadin~es of the paragrrphe of thic Mort~~e a?t for ccx~veneence only and arr nat to he used to
interpret or de6ne the provisioes liereof_ _
14. l~olice. Eccept for any ndiue requircd u~xlcr ap{+licable hw to be gi~en in ancVhcr manner. (a) any notice to
Borrov~~er pmvided tor in this Mca-tgate shall hr ei.•en M mailing cekh notice b~• certified mail addrecccd to 8ormu~er at ~
the Propeny Addreu or at wch cxhe~ addrec~ as &.rn•ae~ mar decignate by notece to 1_ender as prmided herein, and
(f?) an~- notice to Ltnder shsll he ~ti»en b~~ ecrtifieci mail. rcturn rcreipt rcquected. to l.ender
c addresz stated herein or to `
cuch otber addrcss as Lender ma~• desi;nate M nc~tece t.• Bermwer as pro~ided herein_ Any notice provided for in this
tilortgage shall he doem~d to have been gi~•en to Bc~rawcr cx I.rnder v?hen given in the manne~ designated herein.
IS. U~on~ Mort~a~e; Goser~ i,~w; Se.ers6i'itr. Thi~ form of mortga~ combines uniform covenants for national
e+se and ru~n-uniform rnvrnants v~uh IimiteJ ~•uiaticx~s b~ jUf154~K'lNMt 10 COflStlllllG a uniform socurity instrument covering
real prcyk,rty_ This Mortga~e shall tx gorrrned h~• ~l~e law c•f the juricdiction in which thr Property is tocated. In the
event that any prrnisio~ cK clause of this Alortgage ~r ~he \.,te confticts with applical+le law. such cooflict shall not affect
rnher prc.visionc of this Manga~e or the ?`ote xhich c~n be givrn eBrct without the conflicting pmvisio~, and to this
end the pravisions of the Mort~e and tt~e `cxe are .ie~lared to tx cevrrabk.
16. dwrowet's Cor~r. Borrnv?er stuil he furn~st~i ~ rnn(ormed rnpv ot the Ncue and of thic Mortgage at the time
of e~ecution or after tc~rordation hereof.
i7. Traasfer of tre Tro~nh; As~apio~e. It al! .~r inr p.an of ~he Pmperty or an interest thcrein is sold or transferted
b~• Barrower w•itbout Lenders prior wrinen n~nsent. e~cluding (al the creation of a lien or encumhrance suhorJinate to
thit Mortgage_ (t~l the cration of a purchace mc~ne}- ~ecurit~~ interest for household appliances. (c1 a transfer by devise.
desce~t or by operatia~ of laM upnn the aieath of a j~ant tenant c•r tJ~ the grant of any Masehc~ld interest of Ihrce years or lesc
n~~t ~ontaining an opiion to purrhast. Lerrder ma?. at Lcnder c c.ption, declare all Ihe sums secured by this Mortgage to be
+mmedi~ttly~ due and payabk. Lender shall have x~ai.ed u~ch option to accelerate if, prior to the cale or transfer. [_enckr
and thc perscx~ to r?hom the Prc~perty ic to be soW ~x tra~ferrcd rexh agrcemeot in writing that the credit of such person
satisfacto~• to [tnder and that the intercst pacal+k cx~ the sumc securod by thic Mortgage shall be at such nte as I_ender ~
~hall request. lf Lender hu waivtd the o~atic•~? to acc~krate provided in this poragraph 17, and if Borrower
s successor in
nterest has executed a written uwmption agrernxnt accepted in v~riting by I_ender. Lender shall release 8orrower from all
. 5?igat~ons uncier t6is MortEaEe aod the IVote_
tf [_ender ex~rcises such optic~n to arnekrate. !_en.ier sh.i11 mai! Borrow•er notice of accekration in accordance with
aragraph 14 hercof. Such notice shall provide a peric~d of not {ess than 30 da}-c from the date the notice is mailed within
hi h Borrov?cr may pay the sums doclarcd due_ If Borrower (ails to pa~ u~ch sums prior to ~Ix expiraticxi of such period,
~••.i~r ma}. without (urther nolioe or demand oe [iorr~r?er. ~nvolce an~- remedees permittccf by paragraph !8 hereof.
IVox-U~?tFO~etN CavevAS~rrs. Borro.ver and lender further covenant and agree u follovrs:
18. Accderatio~ Rere~ies. F~c~ ae p~iiei i~ MraRra~ 17 `ereoE. ~p~ Sorrowds bresc~ of ary co•ewt or
a~rce~e~t of ionowcr ~ Iris M~a~e. i~ci~i~ ~e c~~eaa~Is 1~ rry a6es ie ary swas sec~rri br tWs Mort~aRe. I.eoder
prior to sccderaHo~ sWi ~ai ~MicY M M~swer s~atirer L~an~ra~ t11~e~eot s~ecifpi~: (1) tre breac4; (2) t4e sctioo
rsqsire~ b cro s~ Mese~ (31 a i~le. ~st les tl~ 3~ ia~s frws t~e iate tre ~stiee is ~ to somower. b!'~ wi~icb s~c~
brescM ~ast 4 cM'e~ ai N) tWt taie 1~ c~e s~ kea~c~ o~ or `d~re tre ~afe s~eeiiei i tre ~otke e~a~ raalt iw
accderat~ of ~e sws sec~ rf ~~~l~• ~ b~W !~'~~'~R si sale of t~e ho~erty. 'Itie eotice
sLar t~rt~er ifers yrrower ef ~e ri~,Y M ieiast~c aNer aceeletatio~ ar trc rieM b a~ert ~ t4 forecioaoe p~oceedi~
ti~e ~o~-e~ste~ee ~f a idai or a~ Nrer ~dea+e ~t i~rw~er N~k~af~ awi fareelos~e. If tbe breac~ i~ ~ot ca+ed ae
or betae ~e ~e s}eciiei i~ tYe ~elic~ I.e~ier at Ia~ie~'s ~tia~ ~r ieeirs a~ ot tre w~s sec~nd i~ tiit Morfaa~e to be
iwac~Wd~r i~e ai ~aYe wi~~t ist~er ~i ar ~ fercrl~se 1ii Mo~ti~ ~7' N'~a~. I.e~ier sl~aa
- ~e cMide~ M c~eet 1~ s~i ~aes~ ar e~e~ses ~f fi~ecl~xe. wcl~ii~. ~t ~et iirilci 4, reaso~a~ie atton~t~'s fea.
a~d eos4 ot ise~~ e+iie~ce. arl~acfs a~i title ~t~.
19. i~no~wet's R~R N Rei~a Notwitlatandms Cen~ier
s aocekration of the wms secured by ihis Mortgage.
Borrower shatl 6av~e ti~e ri~6t to hav~e any prncoedings hcZtua by Lender to enforoe this Mortgage discondnued at aoy time
_ ~ ~i ~
~c-~ i$z -