Loading...
HomeMy WebLinkAbout0932 Leade~~ writtea s~rament or applicable I~w. Borrower ~ap pay the anaual at aU mortgage iasurac~oe premiuar ia t6e manner provided under p~ngraph 2 heroof. ~ Aay amounts disbursed by Lendar pursuant to thit parag~aph 7, with intec+est therooo. :hatl become additiond indebtedoas ot Horrowe~ ~ecuc+ed by this Mortgage. Unless Borrower aod i.ende~ agroe to other.te~ns of payo~nt. wdi imounts shal) be payabk upon noticc from Lcnde~ to Borrower roqu~sting paymeot thereof. a~d shal! besr inta~ri trow the date of disburaement at the rate payabk trom time to time on out:tanding principal undet the ~Io~e uakp pa~meet d interest at wch nro would be rnntrary to applicabk law, in which event such amou~ts shail bear inte~+est u the hij6est rMe pennis~bk under appticable law. Nothing centained in this paragrsph 7 shall requit~e Lende~ to it~ aay p~peme or tate aAy action hereundar. t. i~eetio~. Leoder may make or cause to be made rcasonabk e~tries upon and inspections of the 8rope~ty. pno~ided that Len~ shall give Borrower notice prior to any such inspection specifying rcasonabk cause theretor rdated to LaiBers interest in the Property. . Cu~dewptbw, 'i'he proceeds of any award or claim for damagea, diroct or consequential. in oonnection with aay condemnatio~ or dher taking of the Property, or pan thereof, or for rnnveyance in lieu of condemnation, are t~ereby ~oed ~ and shall be paid to L.ender. ' ' I~ the eveat of a tota) tulcing of the Propeny, the proc:eeds shall be applied to the sums xcurod by this Mo~e. with the excess, if any. paid to Borrower. ln the evcnt af a parlial taking of the Property, unkst Bormwer and I~eeder ' . otherwise agree in writing, ther~e shall be applied to the ~ums secuntii by this Mongage such proportion of the prooee~s aa is eqwl to that pmpoMion which the amount of the sums secured by this Morigage immediatety prior to the da~e af - taTtiaa bears to the fair mukd valuc of the Propeny immediately prior to the date of taking, with the balanoe of tbe p~+ooeecls ~ paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the oondemnor oReis b tadx an aw~9d or settk a claim for damages, Borrower fails ta respond to I.ender within 30 days after the date wd~ notiae is t~Aafled.'I:ender is authorined to colkct and apply the proceeds, at Lender's option, either to restoration or repair of tbe Propeny or to fie sums securcd by this Mon~tagc. Unkis i.6nder and Borrower otherwise agree in writing, a~y such application of proceeds to principal.shaU ~ot eactend or postpone the due date of _the monthly iratallments refemed to in paragraphs 1 and 2 hereof or change the anauat uf such irataii~.~ts. . . ' 111.~ Hofr~ower Not Relea~ed. Extension of the time for payment or modification of amortiution of the wms xcuied by this 113ortgage graeted by Lender to any successor in interest of Borrowe~ shall not opente to rekase. in any manx~. the liability of the original Botrower and Borrower's successors in intercst. Lender shall not be requi~ed to ooammeooe procsediags against such suocessor or refuse to extend time for payment or otherwise modify amortiutia~ of the sums ~ secured by this Mortgage by reason of any demand made by the original Bornowe~ and Borrower's sucoessors in b~te~st. 11. For6ears~ce b~ i.enaer Not r Wdoer. Any fofiearanoe by i.ender in exercising any right or remedy heramder. or othenwise alforded by applicable law,~ shall not be a waiver of or proclude the exereise of any such riaht or remedy. The procurement of insurance or the payment of taxes or other liens or charges ~by Lender shall not be a waiver of L.enda's riaht to accekrate the maturity of the indebtednesc secured hy this Mortgage. 1~. Reaeiks Ca~hti~e. All remedies provided in tKis Matgage ar~e distinct and cumulative to any-other risht or reinedy under this Mortgage or afforded by law or oquity, and may be exercised concurrently, independently or suooasivdy_ 13. S~ecessors aoi Asi~s sonud: Joial aad Sered ~.ia6iiity; Captbes. The rnvenants and a~reemrnts he~+ein contained shall bind. and the rights hereunder shall inure to, the respectivc suocessors and assigns of T.ender and Borrower. subject to the provitions of paragraph 17 hercof. All covenants and agreements of Borrower shall be joint and scweral. 'I1~e aptions and Ircadings of the paragraphs of this Mortgage arc for rnnvenienve only and are not to be used to interpret or define the provisam he~+eof. 14. Notka Eicoept for aoy notice requircd under applicable law to be given in another manner. Ea) am? notice to _ Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Bo~rower at . the Froperty Addras or at such other address as Borrower may designate by nutice to i~nder as provided I~enein, and ' (b) any notioe to Lender ahall be given by certified mail, return receipt requested. to i.ender's address statod herein or to such other addras as Leodec may designate by notice to Borrower as provided herein. Any notioe provided for io this Mortgaae shall be dcemed to have been given to Borrower or Lender when given in the manner desegnatal herein. IS. U~fors Mort~e; Go~er~ I.aw; Sever~. This form of mortgage combines uniform eovenantc for natioeal E u~e and ran-uniform covenants with limited variations by jurisdictan to constitute a uniform security i~trumrnt oovaina ~ real property. 'I~is Mortgage ahall be governed by the law of the jurisdiction in which the Property is Iocatod. Ia d~e r event Ihat any provi:ion or claux of this Morlgage or the Note conflicts with applicabk law, such conflict shatl not affect ~ ~ other provisions of this Mortgsge or the Note which can be given effect without the oonflicting pruvision, and to this a~d the provisiona of tfie Mortgage and the Note arc declared to be severable. - l~. Son~uwer's Cop~. Borrower shaU be fuinished a conformod copy of the Note and of this Mortgaae at the time E . of execution or aher recordatioa hereof. 17• 7~~fer of ttie lro~eit~: Ass~mptio~. if all or any pa~t of the Property or an interest thercin is soW or transfared by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbnnce wbordinate to this Mortgage, (b) the creation of a purcliase money security intereat for household appliances. (c) a transfer bq devi:e. descent or by operation of law upon the death of a joint tenant or (d) the grant of any kasehold interat of thr~ee ycars or kss ~ not conhining an option to purchaae, Lender may. at Lender's option. dtclare all the sums securcd by this Mortsage to be ~ ~mmediately due and payabk. Lender shall have waivod such option to acakrate if, prior to the sak or transfer, Lender ~ ' and the person to whom the Property es to be sold or transferned r~ach agreement in writing that tlie crodit of wch peison . is satisfactory to Lender and that the interest payabk on the :ums sxured by this Mongage shall be at such rate as I.t~ shall req~est. if I.ender has waived the option to acoekrate providod in t6a paragraph 17, and if Bomo~ver's sucomor ie inte~+est has eacecutod a written s~sumption agroanent aocepted in writing by I.ender. I.ender shall reiease Borrov~ from ap obligations under this Mortgage and the Note. If i ender exercises st~ch option to scoeknte, Lender shall mail Borrower ratioe of accekration in aooor+danoe with paragraph 14 heroof. Suc6 notioe shall provide a period of not leu than 30 days from the date the ratice is mae"led arithin which Bamwer may pay the snms declarcd due. If Borrower fails to pay such sums prior to the eapintion of wch period, Lendsr may, without further notice or demand on Borrower, invoke any rem~dia permitted by parasraph 18 her+eof. F Na+-Uxt~t~[ Covewexra. Borrower and Lender fnrther covenant and agnx as folbvvs: r li. AeadeesNor, Re~e~es. Bsee}t a~ ~rs~Ned i p~ra~rapb 17 benof, ~o~ ~orrowers b~raer d•ay a~~e~st ~ ~ a~ree~eat o[ Mr~ i~ tii M~I~,a~q i~e~i~ ttie ~o.e~ls a Ny ..tie~ dre ay wrs .ee.rei r~ t~is M~~e, i.e.rer ~ ~ Nior M aetda~atlo~ i~i satl ~etke ta lorra~?a as M+o~Nei i¦ p~apapi 14 ienat a~eelf~i~ (1) Ire Meack Ire seW~ ~ re~i~ei a e.e s~ Veaek t~ s~be, ..e ~as uia. 3! aqs tro. tYe iate ~e .efioe ir .~ilal a t«rrw~, y.~iiei ..ai € tieeaer a¦rt ie e~re~ aoi ~at taYae b c~e weh Orese~ o~ or ide~e tre iMe ~eeliei i~ tie ~fice ~q ee~t i aooelesli~ et lie so~ see~i !rq li~ Mor~e, toraloNr+e b~!~L awi saie et tie tt~edj. 11re ~fiae a~ t~rl~ i~~ loetower d tl~e rl~Yt to rel~Ie aNer ~adeea~o~ awi ttie ri~it fs arert i~ ~e t~Nw~e ~weeei~ Ae ~o~oe d a ~ds¦It or aq atia id~e of ~orrower to socderatie~ ai toi+edewue. ~ de iKSer i Mt e~ei M .r ~dere de i~le,~eeiiei i~ ~e ~Nice, t~esier at i.eaier's oplo..ap ~ea~e a~ at ~e.~,ee.ei y ei iM«~,~e t~. tie i~eii~id~ ie a¦i Nqaiie wUrs~t t~rt6er ie~si aaii ~q fe~etlo~e t~i Meel~e b7' }iieW M~oee,i~ I~eaie* ii ~e e~fl~ei ia c+eiat i~ wei ~i~oeeii~ ai es~eres ot toreelon~ee, ~t Mt irilei M„ re~w¦~ile ali~r~'!~ ~ees. a¦i a~Y ot i~e~e~ a~iie~e~, a~rleacb ~i Wie ee~o~i~. 1!. ~rnw~'!~ 1tI~M M 1~d~ate. Not~vitlatand'mg La~der's aoce3eratia~ of the wms sewt~ed bp mis Moet~e, Bormwa ~ha116av~e tbe risht W have aay Pro~eed~n8+ be6~~ bryr Lender W enforoe th~ Mortp~e di~oootinued at aa~ ti~e - -BOOK 2~ PA6E ~ ~ . ~ . ~ . . _ ~ ,Y - . _ _.~W...