The URL can be used to link to this page

Home My WebLink About0596 l.ender's written ,g :rmcnt or applicabk law. Borrower shaL pay ~he amuunt of mart~age iii.urance premiums i~ the manncr providcd under paragraph 2 hereof. , Any amaunis disbursed by I_ende~ pursuant lo this paragnph with interc.~~ thercon, shall become additionr! i~xkb~ed~ess of Borrower secured by Ihis Mon~;age. Unlecc Bo~rower and l.enJer agrce to other tertns uf payment. such ama~nts shall be payabk upon ooticr from I.ende~ to Bo~rower requesling payment Ihereof, and ~h~ll he..: +nte~est from the date of disburscment at the rate payahk fram time to time un outatat?di~g principa) under the No~e unless payment of interest at such rate would be contrarv to applicable law, in which event ~uch amounts shall bear interest at the highest nte permiuible uoder applicabk law. Nalhing cc~otaineJ in thic~parag~aph ~ shall require t.ender lo incur any expense or take any action hcrcunder. & 1~sQectbe, l.enckr may make or causc to be made rcaccx~able entrici upon and inspcctions of thc Property. provided that I.ender shall give Bc?rrower notice prior to any nich inspection cpecifying rcasonabk cause theretar related to Lender's i~terest in the Aroperty.. 9. Coademsation. The proceedc of a~y award or claim for damages. dircet ar consequential, in co~nectian with any condemnati~n ar alher taking af the Property. or part thercof, or far ccx~veyance in lieu of condemoation, are hereby assigned and s~all !~e paid to i.ender. la Ihe evertt af a to1a1 taking of thc Pmpcrly. thc pm.ceJs chall hc applitd to 1he sums sccu~ed by this Mortgage, with the excess, if any, paid to Bor«wer. In the event of a partial laking af the Property, unlesc Be~rrower and I.ender othen~vise agrce in writing. therr chatl be applied to ~he cums secured hp thic Mortgage such proportion of ~he pmceeds as ic equa) to that pro~rtion v?•hich ~he am~un~ af ihc cum~ tecured hy this Mortga~te immediately prior ta the date of takiog bears to the fair market valuc of thc ProEx~~~ immediatcly prior to thc date of taking, with the t~alance of the proceeds paid to Borrower. If the Property ic ahandoneJ by Bnr.ou~er. ~r ~f. :~fter n~tice hy l.ender to Barroveer that the condemnor afTers to make a~ award or tettle a claim for damaKC~. R~+rn~wer (a:t. t~ re~~~nd m l_ender within l0 days aher the date such notice is :mailed. LenJer ia authorized to collect and appl~• th~ prcx~.•eds, at l.ender's ~ption. tither ta ratoration or ttpait of the Rrapcrty or t~ the sum~ eccured hy thic A1or~gae~ . ~ U~les~ l.ender and Borrawer otherv?i~e agrec in N-riune. an~• such applicatio~ of proceeds to principa) shall not extend or ~istpone the due datc of the momhh• instalhne~ts rcferred ~a in ~paragraphs 1 and 2 hereof or change ihe amount of such installmentc. 10. Bomowe~ Nol Relessed. E:~tenaion of the time for p~ymem or modification of amortization of the sumc secured by this Mortgage ¢ranted hy 1 enJer a• am~ c~~cceasor in intere~t of Borrower chall nM ope*ate to release. in any manner. the liability of the original Borrov?.er :~nd R~•rmwer'c succea~r~ in interest. I.ender shal) not be required to commence proceedings against sUCh successcir or retuce t~ ertenJ time for payment or otherw•ice modify amortizahon <~f thr wms se~:ured by this Mortgage by reason of :~m• dcmand made b~~ thc rrieinal Born?wer and B~rrower s successorc in interect_ 11. Forbearance by Lender Not a Waiver. Am f~rhearance h~ 1~~~der in exercising any right or remedy hereunder. or othervvise afforded by applicable law. shall n~.t he a wai~~er c~f ~~r preclude the eiercise of any such right or remedy. The procurement of insurance or the payment of taxe~ or other liens ~x charges fiy l.cnder chall not he a waiver of 1_ender s right to aeeelerate 1he marority of Ihe indehtednecs ~eiimd h}• thic MonQage. 12. Remedies Cnmulafire. All rcme~liec pmvideei in thic MortgaFe arc distinct and cumulative to any other right or rcmedy under this Mortgage or affordeci hy lavr or equity. anJ may he e~erciced concurrenUy. independendy or suc.essively_ ' 13. S~ccesso~s and AssiRas Bound; Joint and Sereral I.iaMility; Captionc. The covenants and agrecmen t herein contained shall bind, and the riRhts he~under shall inure to. the rcspective succecsors and assigns of Lender ae~d B~~rrower. subject to the provisions of paragraph 17 herrnL All rnvcnants and agreements of Borrower shall he joirq and ceveral. 71~e captions and headings of the paraeraph~ c?f thi~ Mortgage are for canvenience only and are not to he iiced to interpret or define the provicionc hereof. id. Notice. Except for any no~ice rcy~~ired under applicable law~ to be given in another manner. (a) any notice to Borrower provided for in this Morlga~e thall he given hy mailing wch notice by certified mail addressed to Bormwer at the Property Address ar at such other addre~. ac Bi~rmw•er mav designate b~ notice to i.ender as provided herein. and - (b) any notice lo Lender shal) he giv~n hy ccr~ificd mail. rcturn receipt requested, to I.ender s address stated herein or to such other address as I.ender may de~ienate M• n~tice t~• Barmwer as provided herein. Any noti:c provided for in this Mortgage shall be deemed to havc l+ecn g~vcn to Rorr~w•er <~r l.ender when given in the manner designated herein. 15. Unifonn MortRa~e: Covernin~ Iav~~; Se.•erability. Thic form of mortgage combines uniform covenants for national use and non-uniform covenantt with limite~ ~•ariationc M• juri~Jiction to rnnstitote a uniform security instrument covering - real proper~y. 'Tl~is Mortgage shall he governed he the law• of the juriuiiction in which the Property is iocated. in ihe ! event that any provisiun or clauce of thic MortgagC ~~r the Note rnnflicts ai~h applicaMe law, such conflict shaU nat afiect i . ~ other provisions of this Mortgage or the ~~+tr Khirh .can he g~ven efiect withoat the conflicling provision, and to this i end the provisions of ~hc Mortgage and thr V~.te ~rc ~Icrl~red to be severable. ; l6. Borrorrer's Copy. Borrower shall tx furni~heJ a c~nformed cop}~ of the Note and of thic Mortgage at the time 3 ~ of execution or after recordation herec.f. _ ~ 17. Traasfer of the Property: Ascumplion. II alf ~~r am• part of the Pr~~perty or an interest therein ic sold or transferred ; by Borrower without I.ender's prior wrinrn comrn~. ~~cluding (al the creation of a lien ~r encumbrance sut~ordinate to ~ this Mortgage. (h) the creation of a purchau mrnr~~ ucurit~~ interest f~r householJ appliances. (c) a transfer hy devise, _ descent or by operation of law upon the dcath ~.f a i~~~nt tenant ~r (d? the grant of an}• leaschold interest of threc ycars or less not containing an option to purchase. I ender ma~•, at Lrnder's option. declare all the sums secured by this Mortgage 1o I+e immediately due and payable. Lender chall have N:~iced such option to accele~ate if, prior to the .ale or transfer. t_enekr and the person to whom the Property iti n~ i+c :oIJ ~.r trancferrcd reach agreement in writing that the credit of cuch percon is satisfactory to I_ender and that the imerr.t pa~•able on the sumc secured by this Mortgage shall be at such rate ac l.ender shal) request_ If I_ender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has executed a written assump~ion aFreement accepted in wriling by I.ender. Lender shall releace Borrower from all ~ obligations under this Morlgage and the Na~e. ? If Lender exercises such option t~ accelerate. I.ender shall mail Borrower notice af acceleration in accordanc~ i~h ' paragraph 14 hereof. Such notice shall provide •r period of not lesc than ;0 days from the date the notice is mailed a•ithin which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the eapiraticx~ of cuch pcriexi. ~ Lender may. without further natice or dcmand on Borrower. invokc any remedies permitted hy paragraph 18 hercof. ~ NoN-UN~FORnt Cove~etvTS. Borrower and l.ender (urther covenant and agrce as follows: ~ ~ 1& Accekratioe; Remcdies. Excep ~s pmvided i~ ps~raph 17 hereof. apon Eorrower's breacl~ of any corenawl or ~ agreement of Borrower ie thts MortRa~e, lndudin~ tbe covtaants to pay r?hep dee sny soms sect~red by this MortRa~e. [.eader prior to scceleratioo shall mail notke to dorrower as provWed in pan~rspb 14 hereot specifyio=: (1) tbe breach: (21 the sction ; required to cure socb brescb; (3) a dste. not less lban 30 days from tbe date tbe notke ls mailed to Bomowe~. by rrhic6 such ~ ~ bnach mwt be cored; aad (4) that faiture Io cure such breach on or before Ihe dde spec~'ied in the notice may recult in ~ accderatbs of tbe snms secured by this Mort~~e. forecbwre by judkial proceedi~ aad ssk of tbe Property. '11~e notiee ; J shall furtber inform Borror?er of the riRht to reinstate afler sccekntion and tbe ri=ht to ~ssert ia tbe foreclosuro proceed~ ~ ~ tbe non-existence of a defauk or aay othe~ deiense of Borrower to sccekration aad forecbwre. /f the breach ~s oot cnrrd on I ~ or beforc the date specificd ia the notice, t.ender at I.rnder's optan may deciur aB of tbe snms secnred by thts MoA~~,e fo be ~ ~ immediatcly due and paysbk withont fuAher demand and may forecbse this Mort~a`e by judicial procetdin~. i.endrr chall i ~ be eotitled to collect in snch pmceed~~ aN expences of foreclosure. inclndio=, bet ~ot ~mited to. rcasonsble : tt~,rnr;'s fees. , awd casts~of .:uc~~sentary evidence, abstrscts and titk repo~ts. ~ - 19. Borrowa's Ri`bt to Reiost~e. Notw ithctanding l.ender s acceleration of the sums secured by th~~ M.~rtgage. ~ Borrower shall have the right to have any proceedmg~ he~un ~+y I.ender to enforce this Mortgage discontinued ~t an}• time ~ ~R - ~ gooK 303 YaCE 595 ~ _ _ - - - - ~ .~~:ti ~ ~ ; . ,