HomeMy WebLinkAbout0847 l~'~ w~itla4 ~reaseat ar spplicabla law. Bo~row~ ~11 psy the an~ouat at aB morts~es ~unu~oa pcani~nns ia tbe
. maoeer Pr'avidod under para=nph 2 baceof. .
Asy awo~ab ~Sbuned bp i.a~der punuaat to thi~ pa~aph 7. with iotere~t thereon. thall beooms ~dditiousl
~ iadebl~doess at Botr~o~a secw~d by this Mattsase. Unlass Borrower and I.eoder ap+ee to other terms of payroent, wch
amounes d~aN be p~yabk upoa notia from Leode~ to Hot~+owcr roquestins payment theroof. and shall bear inte~at fraa the
, dab of disbNSa¦a~t at the ta~e pa~pabk trom tirae to Nme on outstandinj principsl under the Note unka paymeot ot
ia~ene~t st mcb ~ste would be ooatnry to applicabk law. in which event wch amounts rhall bear iaterest at the bl~at r~e
permi~ible u~er appiiabk la~r. Noth~ns oontained en this panaraph 7 shall require I.endor to iaau aay e~cpems vc Woe
aay actioa l~enar~dec ~ , . ~ .
t l~ee~a I~eader tnay make of cuae to be made rea.soiiabk entries upon aod inspections of the Propettr. poo~vided
dat Lindx ~all pMe ~am~rer ndice prior to any such inapection specifying reasooahb c~we therefor related to I.e~det't
inlnw iu ef~e Trop~artr. ~
'IUe p~oc~eeds of amr award or claim for damages. direct cr oonseq~eatial. in connection Mitb aoy
ooademaation or ot6er bkiu~ of the Propertr: or put thercof. or for canvey~nce in lieu of condemnatioo. are henb!? s~ned
aad da~ be p~id to Ltnder.
In Ure ev~eM ot a tatai takins of the Propeny, the proc.~eods shall be applied to the sums secured by this Mortpae.
wNh 16e exce's. it ae~. paid to BoROwer. in the event of a partial taking of the Proptrty. unkss Boroower and Lender
a6awrise apee ia wRiti~, there shall be applied to the sums sxured i~y thix Mortgage such proportion of the prooeed~
as is eqml to tMt proportion wbich the amount of the sums securod by this Mortaage immcdiateip prior to the da~e ot
dti~ bears to tbe fiir markd value of the Pr~operty immediatcty prior to tlx date of taking, with the balana~ of tl~e prooeeds
paid to Soreo~r. . _
Ii die lnnpe~i~ is abanda~ed by Barrower. or if, after notioe by Lender to Borrower that the oondemnor ol[en_to make
ai~ aw?a~d or xttk a claim for damaga. 8orrower fails to respond ta Lender within 30 day~ aher the date such aotioe i~
a~aaed. I~ender is a~utbo~oed W ooilect and apply the proceeds. at I.ender's option. either to restoration or npa~r ot tbe
Property or ~ tbe smns secnred hy this Mortgage.
Udas La~der and Bot~o~rrer atherwise agroe in writing, any such application of proceeds to principal shap not exte~d
or postpooe dre doe dak of the monthly installmrnts referred to in paragrapfis 1 and 2 he~eof or change the atnount of
snd~ iwshWoeats.
1~ 1~nrwe~ lwt teia~e~. Eutenaion of the time for payment or moditkation of amartization of the sums sacntsd ~
b!? das ltort~e araaled bq I~eader to a~y suoc~sor in interest of BorroNre~ shaq not opeate to nkase, in my mann~~ '
the ~ d the o~iaal Borrower and Borm~ver's suocasors in interat. LerKkr shall not be roquired to oommenoe '
p~ooeo~igs ~t st~h wocessor or nfu~e to exteod time for payment or dherwise modify smortization of the wnis
saur~ed bp t6is 1RoA~e by reason of a~y demand made by the original BoROwer and Borrovrer's successors in iMerat.
11- ~i~ieaa~c~e ip I.e~ier Tiot s Wai~ Any forbearanet by Lender in exercising any right or renKdy here~nder. or
athe+w"se aQo~ded bq appi'~cabk law. shall not be a waiver of or proclude the eace~+cise of any such right or ren~edy.
. 7Le pnoar~aweot d iaarance or tbe payment af taues or other liena or charges by La~der shal! not be a waiver of I.ender's .
ri~t to soode~ate t6e mat~uity of the indebttdnest securcd hy this Mortgage. -
12. lss~c~es ~ M renkdies pravided in ihis Mortgage ar~e distinct and cumulative to any other right or
~ech? uoder t6is ltartp~e or a~'orded by la~? or oquity. and may be exenciszd concurnntly. independently or s~xoessivdy.
13~. 8~oee~es si Anips 7eit a~ Se~etal i.i*biln Ca~lio~s. Tfie covcnants and agneana~ts herein
ooataised sba~ bi~d. aa! the ri~hts hd+eunder shall inurc to. the rapoctive woce~ors and assigni of Leeder and Bon~ovrer.
sobject ~o the pro~visioas oE pan6raph 17 he~oof. All ornrenants and agreementa of Borrow~er shall be joint and several.
" '~e captions sed headioss af the pua~raphs of this Mortgage are for convenience only and a~e not to be used to
iale~pet or de5se the p~avisioes h~eY~eof. -
1~. 1~i~6ea Faceep for aoy oofloe requirod unde~ applicabk taw to be given in another enanner. (a) any notiee to
Borrow~er proa?ided far ~ this Mo~tsa~re ahall be given by mailing such notioe by cenil~ed ma~ addrassed to Borrov~rer at
die Propnty Addr~ns or at wc6 other addras as Borrower may designate by notice to i~nde~ as provided herein, and .
(b) aap eotic~e b i.eoder s1aH be aiva~ by oerti8od mail. raurn reoeipt roquested. to La~der's address stated herein ar to
. snc~ other add~eat as I~ may dai~a~e by notice tu Bornnwer as pruvidod herein. Any notioe provided for ie tlds
, Mort~;aDe dnM be deemod to hare boa~ aiva~ to Borrower or Lender wheo given m the manner desisnated herein.
1S. ~J~i~s M~ C~es~ Law: Se~erabik~. This Eorm of mortgage combina uniform covena~ts for national
u~e aod .on-ueiform a?ve~ants with limited variations by juriadiction to constitute a uniform security inatrument ooverins
~ ieal ptvpatx. Tbis Mo~e shsi) be ~wrerned by the law of the jurisdiction in which the Preperty is located: In tbe
~ erent ~st aap p~ovi~ion or dause af this Mortgage or the Note conflicts with applicabk law, such conflict shall not affect
~ pro~?isiow: ef mis lr[ortsage or the Note which can be given effoct without ihe conflictins pmvi.sion, and W thh
~ eod t6e pmvisioos of We Mortsaae and the Note art declared to be severabk.
i if~ 1~ewweh 8orrower sba11 be furnist~ed a con~orn~ed oopy of che Nae and of this Mortgage at the time
~ of a~ecutios or atter ~+eoot+datioo heroof. .
l7- '!'Ma¦rte~r ~f ie lr~at~; Aa~io~. If all or any part of the Property or an intaest therein i~ sold or uansfe,rred
b!? Borro+~e~er w?itboot Leode~'s prior writtrn consent, excludina (a) the cration of a lien a encumbranoe snbordinabe W
? t6is ~tortp~e. (b) t6e c~ation of a purriwse mon~y serurity interat for housei~old applisnoes. (c) a tra~sfer by devi:e.
dexent or b~? opastioa of law upon the death of a joint tenant or the grant of any leasehold interat of three years ur kss
oot oodaisios ao ept~oe ~ p~ueha4e,. t.ender may. at [.ender's option, declara all the sums secured by this Matgage to be
immed~dy dae siod p~~able. Lendar shall hav~e waived such option to aooderate if, prior to the sak or transfer. Lenda
aod We paaoa to wrMai tbe Pmperty is to be wld or tra~uterrod reach asreana~t in writias that the crcdit of wch peison
is satisfactot~r to isoder aod tbat tbe i~trest payabk on the wms aecured by tius Mortgage shall be at such nte as Leoder
a~ iequest. if I~eoder h~s wraived tbe option w acoeknte providod in this p~ragraph 17. and if Bormwer's suc~or in
iNeaat ~ e~ecuted a wrium a~suoaption agnoatient aooepted in writin~ by Leader. Leoder shall rr.lease Bo~ro+ver from al!
obi~tio~s n~der this 1[at~e and the Note.
If i~eader esarana mdi option to aoo~krata, i.ender shall ma~7 Bomower notioe of aocekntion in aooordanoe with
paraarapb 14 heneoL ~ notica iball provide a period of not las than 30 ds~ys from the date the notioe is ma~ed within
wrhicb ~orro~wer nq~r pnr tbe sna~ declared due. lf Borrower f~ils to par wch wms prior to the ea~piration of such period,
i,a~der aa~, nit~at fart6v uotica or danand on Borrvwsr. imoke any rstnedia permitted by pangraph 18 hereof. .
Na+-U~~oatt Cavautrn. Horro~ru and Leader further oovenant and a~rre as foilows: -
1~. A~cdediws ~ei~s. ~oe~t as ~Mei i~ ~a~i 17 baeo[, ~o~ 1~n~'s Me~eb vt an~ co~eart ~
apee~t ~t 1~erwrr ia ~is 11~e, i~ei~ii~ ~e a~es~¦Is to ~q wUn i~e a~ srs sea~ei ir~? fYs Merl~e, I.enie~r
~eir 1~ aeod~aiN ii ~i ¦~ee 1~ ~erw~er as ~M~i i~ Nn~n~ 14 6er~ ~ee![~I~ (1) Iie iewcl~ t21 t~e sefie~
rs~iei i~ e~e s¦ei in~ei; a i~h, w~t ies ~ 3~ iq~s ft~ tre i~ie Irt ~Nke i~ ~iiei 1~ ~iKr~ 17 w~iei s~i
~ i~e~er o~t 4 t~ si (y ~t [ie i~ e~e wde b~eaer o~ K kfMe t~e i~e ~ee~ei i~ fre ~elic+e ~qr nNlt i~
seciei~.t ~e s.¦~ see~.i b~~l~+ ~ h~ w~s a.i s.~e .t tl~e r~pl~. '!tie ..fioe
ii ~ieie~ iir~ Me~w~ ~t de et~t t~ e~le alter sa~dastio~ atl 1~S rt~Yt t~ a~eit i tie ta+eel~wee ~~cee~
~e r~e~ile~s ~t s i~ai K ap ~trer ietare ot Mn+rMer N aeeeleraW~ a~i ioe~edow~w ~ tre ire~e~ is Mt etei r
, ~ i~irs r ire ~dW Y ~lie rtle~, I~eaier st I.esie~'s ~IM~ rq ~eei~e a~ ~t tlie wr see~rei i~r fii.l?l~~pip t~ re
i~eil~? ie ai ~aYe wl~at MYe~ iwsi a~i ~q fe~selo~e 8i 113~e1~~e ~7 ~ l~i~ I~esier ir
iie ~ii 1r iiit i~ei ~noeei~ a~ e~ at t~redowre. t~el~i~. Mt a~t viMi ~r ~¦r!''4
a~i arlt ~t i~e~ie~ edie~e~, sVleael~ a~i W4 ee~erl~.
lll. M~ww~'ti !~t 1~ SeirihM. Natwit~tandiea Leade~s aooekration af tbe wms ~ecuned bp t6u Mott~a,e,
la~aw~a iv ~s tM ~t to 6av~s aar R'ooeedin~ be~uo h'f~ Leoda to eotora t6is Mortp~e di~oootia~ed at aay time
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