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HomeMy WebLinkAbout0614 ' ' - ~ . . ' , L.ender's writtea a~reemeM or applicabk law. Borrowu shall pay the amount ot all nwttgagt insuranoe prdniums in tbe ~ manner provided unde~ paragraPh 2 heoeof. Any amounts disbursed by l.enck~ pursuant to tha paragraph 7. with iateresl therooo. shall beconne additionsl inckbtodnas of Borrower seeured by Ihis Mongage. Unlesc Bonower and I_e~der agroe to other terms of paymea~ such amounts shail be payabk upon notice f~om l.ender to Borrowc~ roquesting payme~t the~eof, and shall bear interest from the date of disbursemeot at the rate payabk trom time to time on aitsta~ding principal under the Note u~kss pa~t o[ . interest at such rate would be contrary to applicabk law, in which eveot such amounts shall bea~ interest at the hiEhest ra~e . permi:aibk under applicabk lav?. ' Nothing contai~cd in this pa~ag~aph 7 shap roquire i.ende~ to incur any eacpeiaa or take any action heceuader. ~ ' S. Ise~ecfio~. I.ender maX make or caux to be made rcaconabk entriec upon and inspections of the Propertp. pro~ided that I.ender shall give Borrowe~ notice p~ior to any such i~spection spocifying reasbnabk cause thento~ rclated to.Lender's intenest in the Propeny. ' ~ 9. Co~dew~atb~. The proceeds of any award or claim for damaga, direct or consequential, in connectlon with any condemnation or dhe~ taking of the Propeny. or part thercof, or for conveyance in lieu of condemnation, ue hereby sssiS~ed and shall be paid to I.ende~. In the event of a total taking of the Property, 1he pra:eeds ahall be applied to the sums accurod 6y this Mortgaae. with the excas, if any, paid to Bonower. In 1he event of a panial taking of the Property. unkss Bomower and I.tt~der olherwise agrce io writing. there shall be applied to the sums secured by this Mortgage such proportion of the ~proaods ~ as is equal to that proponion which the amount of the sumc secured by this Mongalte immediately prior to the date of taking bean to the fair market value of the Property immediately prior to the date of taking, with the balanoe of the proceeds paid to Bornuwer. If the Property is al~andoned by Borrower, or if. after notice by I.ender to Bomc~wer that the condeannor oRers to malce an awa~d or settk a claim for damages, Borrawer failc to respond to l.ender within 30 days after the date such notice is , mailed. Lender is authorized to collect and apply the proceeds. at i~nder s option, either to ratontion or repair of ~he Praperty or to the sums securcd hy Ihis Mo~tga~te. • ; Unless l.ender and Borrower othenvise agrce in vvriting, any such application of pracecds to principal shall not extend , or po6fpone the due date of the monthly installmcnts rcferred to in paragraphs 1 and 2 hereof or change the amount of such installments. ~ IA. Borrower Not Rekssed. Extension of the time for payment o~ modilication of amoriization of the sums sxured # by th:s Mortgage granted by I_ertder to any cuccessor in interect of Borrower shall not operate to release, in_ any manoer. the li~bility of the original . Borrower and Borrower'c si~ccessors in interest. Lender shall not be rcquircd to commence ~ proceedings against such succexuor or rcfuse to ertenJ timc for payment or otherwise modify amortiution of the s~~ms 0 secured by this Mortgage by reason of ~r~ demand made by the oriftinal Borrower and Borrawer's successors in interect. _ 11. Forbaurance by I.e~de~ Not a Wdver. Aoy forhearance by l.ender in etercising any right or rcmedy heramde~, or otherwise afiorded by applicable law, shall not he a waiver of or preclude the exercise of any such right or remedy. . The procuremeot of insuranoe or the payment of taxes or other liens or charges by I.ender shall not be a waiver of I.ender's right fo accelerate the maturiry of the indebtednecs secured hy this Mortgage. 12. Re~ed~ Cemnbfi~e. .~?II remedies pmvided in ihis Mortgage are distinct and cumulative to any other right or remedy under this Mortgage or atiorded hy law ar equity, and may be exercised concurrently, independ~ntly or successively. ' 13. Saccessors and Assi~as Bound; .7oiet and Several i.isM7ity; Capdons. The covenants and agreements herein contained shall bind, and the riRhts hereunder shall inore to, the respective successors and assigns of Lender ac~d Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joiry and several. 'Rie captions and headings of the paragraphc of this Mortgage are for convenience only and are not to be used to interpret or define the provisions herec~f. ~ 14. NMice. Except for any notice rcquired under applicable law ~to be given in another manner, (a) any notice to Borrower provided for in this Mortga¢e shall he given by mailing such notice by certified mail addressed to Borr~wer at the Propetty Address or at such ~~ther addres~ as Bormwer may designate by notice to i.ender as provided herein, and (b) any notice to Lender shall he given by certified mail. retum receipt requested. to i.ender s addcess stgted herein or to such o~her address as Lender may designate tiy notice to Borrower as provided herein. Any notice provided for in this ? Mortgage shall be deemed to have t+een given to Borrower or Lender when given in the manner designated hercin. ~ 1S. Uniform MortR~e; Goremia~ Law: Severabilitv. This form of mortgage combines uniform covenants for national ~ ux and non-uriiform covenantc with IimiteJ variations by jurisdiction to constitute a uniform security instrument rnvering real property. This Mortgage shall be Roverned hy the law of the jurisdiction in which the Propetty is located_ In the event that any provision or claose of thic Mortgage ~r the Note conflicts with applicabk law, such conflict shall not af[ect ' other provisions of this Mortgage or the Note Khich can be given eBect without. the conflicting provision, and to this ' end the provisions of the Mortgage and the iiate arc declared to be severable_ 16. Eorrower's Copy. Borrower shall be furniched a conformed copy of the Note and of this Mortgage at the time ; of execution or after recordation hereof. ; • 17. Transfer of t~e Propertv: Assumption. Tf all or any part of the Property or an interest therein is sold or transferred by Borrower without L.ender s prior wriurn consent. ercluding (al the creation of a lien or encumbrance subordinate to ~ this Mortgage. (b) the creation of a purchace money ~ecurity interest for household appliances. (c) a transfer hy deviu, ~ descent or by operation of law upon the Jeath of a j~~~nt tenant or (d1 the grant of any leasehold intercst of threc ycars or less not containing an option to purchase, Lender may. at I.ender'~ option, declare all the sums secured by this Mortgage to be immediately due and payable. Lender shall havc ~ a~ved such option to accelerate if, prior to the cale or transfer. I_ender and the person to whom ihe Property ic t~~ be ;oIJ or transferrcd reach agreement in writing that the credit of cuch pe~n is satisfactory to Lender and that the interc.t payable on the sums secured by this Mortgage shall be at si~ch rate ac I.ender shall rcquest. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has exceuted a written assump~ion agreement accepted in writing by i_ender, Lender shall release Borrower from all obligations under this Mortgage and the Note. If Lender exercises such_option to accelera~e, l.ende~ shall mail Borrower notice of acceleration in accordancr H~~~h paragraph 14 hercof. Such notice shall provide a pericxl of not less than 30 days from the date the notice is mailed within which Borrower may pay tht sums declared due. If Barrower fails to pay such sums prior to ihe eapiration of cuch period, Lender may, without further notice or demand on ~rrower. invoke any remedies permitted by paragraph 1R hereof. NoN-UNtFOeat Covetv~Hrs. Borrower and Lender further covenant and agree u follows: la. Aceder~tioa; Reaedks. Excep as proridcd io ps~npb 17 hereof, oPoa doROwe~'s brcacb of a~y rove~ant or ~ s~rees~eet of dorrower ie t6Ls Mortgs~e, including tbe eo~easnts fo psy r?hew doe aey snms secured 67 •thts Mort~a~e. Leadcr prior to accekratba sl~all maN aotice to doreower as pmrided !n ptra6raPh 14 henof speci~yin~: <1) tbe breacA: (2) the sction ~ nqaired to e~ue soc` bnscb: (3) a dde, aot kss tban 30 days from tbe date tbe aotice is ~aikd to Dorrower. M' whic6 sec~ ~ bresc~ e~t be csred: aed (4) t6at fail~re to cure svch breacb on or betore tbe date speeised iw the nolice may rssnlt ia ~ accderatio~ ot t6e sea~s secored b~ thLs Mo~a~e. to~eciowre by judicW proceediut sad sde oE tbe Propc~ry. 71~e ndke g shaU furt~er Inform Eon~nwer of tbe ri6M to reiastate sttcr accekrstion snd tbe ri`6t to ~ert ie the foreclo~re proceedl~L ~ tbe oon-existeoce of a defsdt or'ny Mher defense of Borro~?er to accekration snd foreclosure. If the bresc6 is not csred o~ ~ or before the dste s~eci6ed i~ tbe notice. Lender at t.ender's optbn enay declare aY of tbe sn~ sec»red by tl~b Mat~aRe b be ~ u~medi~~dy dne aad ~ayabk withont further demand ~nd msy forecMse this Mortaa~e br jodieial ~roceediuR• I.ender chall ~ be ealided to coqeet ia wcb proceedin6 all expenses of foreclosurr. incladi~, bnt ~ot limite~ t0. rtasoasbk stturnrv's ftes. ~ aod oo~ts of docuatc~tary evideace. abstracts and ~itk apor~s. _ ~ 19. dorruwer's R~bt to Ref~t~te. Notwithstanding l.ender s accekration of the sums securcd by th~s Mortgage. ~ Borrower ahall have the right to have any proceedin~s hcgun hy l.ender to enforce this Mongage diuontinued at any time ~ ~ ~ 9oaK 303 PA~ 613 k : _ - ~ ;z ~ ~ :~..^K ~ ~ ~ ~ ~ ~ Q"wmF"1„" "a . I Y6 r . ~Yi'v^y _ .