HomeMy WebLinkAbout0620 l.ender's writte~ agreement or applirabk law. Bonower shall pay the smount ot all moNgaae insunnoe premiuan io the
mannc~ pravided under paragnph 2 heroot. ~
Any amounts distxuxd by I.cmier pursuant to tha paragraph 7, with intercst thercon, shal) become additioos)
io~kb~edncss ot Borrowc~ secured by this Mort~age. Unkss Ba~ronrer and 1_ender aarce to other tenns ot payment. such '
amounts shall be payabk upon nc?tice tnxn I.ender 1o Bo~~owe~ roquesting payment Ihereof, and shsll bear interest fmm the
date of disbursemenl at the nte payahk t~om time to time on aitstanding principal uode~ the Note u~kss psyment oi
interest at such rate would be contnry to applicabk law, io which evenl such amounts shall bear interost at the hi~hat rate
permissibk under applicabk law. Nothing conlained in this pa~agraph 7 shall rcqui~t I.ende~ to.incur any expetae ot take
any action hereunder.
- S. I~speclio~. I.ender may make or cause to be madt teasonabk eotries uFwo and inspections ot the Property. proeided
that l.ende~ shall Rive Borrowe~ natice pruir to any s~~ch inspection specifying rcaw~abk cause thercfo~ related to t~endePs
inle~est in the Property.
9. Coadeaenatba. The p~oceeds af any award or claim for damaga, dircct or co~seque~tial, in conr~ection with auy .
condemnalion o~ other uking of ~he Property, or part therco(, ar fo~ cooveyance in IieU of coodemnation. are he~? sssi~ued
and shall be paid 10 l.ende~.
in th~ event of a total tating of the Propehy, the proceeds chall be applied to Ihe sums secured by this Mat~ase.
with the excess, if a~y, paid to Bonowe~. ln the eve~t af a paNia) ~aking of the Property. unkss Bomower and i.ende~
otherwise agree in writinR. there shall be applied t~ the sums securcd by this Mortgage such proportion ot the pr~oceedt
u is equal to that proportion which ~he amount a( the sumc secured by this Mongage immediately prior to the dale of
takiog bean to the fai~ market value of the Property immediately prior to the date of taking, with the bala~oe of tht pe+oc.~eed:
paid to Borrower. ~
if the Property is ahandoned by Bor:ower, o~ if. atte~ notice by 1_ender to Bomowe~ that the condemnor of[ers to make
an award or set~le a claim far d~mages. Bon~wer fail~ to respond to 1_ender within 30 days after ~the date such notioe i~
maikd, Lende~ ic authoriud to collect and apply ~he proceeds. at I.ender's option, either to restoration or repair o[ tha
Propeny or to the sums securcd by this Mor~ga~te.
Unkss Lender and Borrower otherv?~ice agree in wril~ng, any such application of proceeds to principal shall not eacta~d
or postpone the due date of the monthly installments rcte~red to in pa~agnphs 1 and 2 hereof or chanae the amount of
such installments.
lA. Eo~ower Not Rekased. Eztension of the time for payment or moditication of amo~tiution of the sums ~ecered
by this Mortgage granted by I_ender to any cuccecsor in interest of Borrower shall rtot opente to rekaae, io any ma~ner.
the liability of the original Borrower and Be~rrower
e si~ccessorc in interest. Lender shall oot be required to commenat
proceedings agairut such successor or refuce to extend time for payment o~ otherwix modify amortization ef the sums
securcd by this Mortgage by rcuon of any demand made by the oriftinal Borrower and Borrower's wccesson in intercst.
11. Forbearasce hy [.eoaer Na ¦ wa~~er. Any fort+earance by Ixnder in exercising any right or rcmedy he~mder. or
otherwise afforded by applicabk law, shall not be a waiver ot or preclude the exercise of any such right or nmedy.
The procurcme~t of insunnce or the payment of taxa or otherliens or charges by Lender shall not be a waiver of La~der's_
right to accelerate the maturity of the indehtedncss cecurrd hy this Mortgage.
12. Re~ Crmahtl~e. All remedies provided in this Mortgage arc distinct and cumulative to any other ri~ht or
rcmedy under this Mortgage or aftorded hy law or equity, and may be exercised concur~ei~tly, independently or sucoasivdy
' 13. Srccesors a~d AsiR~s Eonnd: Joi~t aod Sered i.LbiNry:'Captio~s. 'flrc covenanta and a~retaxnts herein
contained shall bind, and the rights hercunder shall inur~ to. the rcspective succeswrs and assigns of i.ender se~d Borrower.
subjcct to the provisionc of paragraph 17 hercof. l~li covenants and agrcements of Borrower shall be jaM and several-
The captions ~ and headings of the paragraphs of this Mortgage arc for convenience only and aee ~wt to !3e used to
interprct or define the provisions here~f. ~ -
11. Ndke. Except for any notice rcquircd under applicabk law to be given in another manner, (a) any natice to
Borrower p~ovided tor in this Martga¢e shall be given by mailing such notice by certifled mail addressed to Borrower at
the Property Address or at such other address as Bormwer may designate by notice to I.ender as providod hercin, and
(b) a~y notice to Lender shall he given hy certiBed mail. return roceipt requestod. to L_ender's addrest stated he~ein or to
such other addre.a u l.ender may decignate by notice ta Borrower u providcd herein. Any notice provide~ for in this
Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner desip~ated herein.
l3. Uaifons Mort~e: Go~ernio~ Lsw; SeveneNity. This form of mortgage combina uniform covenanb for national
use and non-uniform covenants with limited variations by jurisdiction to coratitute a uniform sxurity instrument em?erins
real property.. This Mortgage shall be ~tovsrncd hy the law of the jurisdiction in which the Property i~ located. In the
event that any provision or clause of thic Mortgage or the Note conflicts with appFicabk law. :uch conflict shal) not afFect
other provisions of this Mortgage or the Note which can bt given eRect without the oonAicting provision. and to this
i end the provisions of the Mongage and the NMe arc Jeclared to be severabk.
i 1~, sorrowers Co*y. Borrower shall be furnished a conformed copy' of the Note and of this Matgage at the time
of exceution or after rccordation hercof.
~ 17. .Traeste~ o~ tbe rroperty: AssrmMioA. 1f all or any part of the Property or an interat thercin is sold or tnnsferred
~ by Borrower without Lender's prior writtrn consent. excluding (al the crtat'an of a lien or encumbtance subotd~nate to
~ this Mortgage. (b) the crcat~on of a purchaa money security inttrest for household appliances, (c) a transfer hy deviae.
~ desoent or by opention of law upon the dea~h of a joint tenant or (d) the arant of any kasehold interat of thrcc years or las
~ not containing an option to purchsse, Lender may, at Lender's option, declarc all the sums securcd by this Mortgaae to be
~ immediately due and payable. Lender shall have w••rived such optio~ to accelerate it. ptior to the cak or transfer. Lender
~ and the person to whom the Property ic ta be colJ or transterrcd t~euh agrcement in writin` that the crcdit of such person
is satisfactory to Leoder and that the interc~t payabk on the sums securcd by this Mortgage shall be at such rate ac Lender
shall requat. if Lender hu waivod the option to accelerate provided in this p~ngnph 17. and if Borro~ver.'s successor in
interat has exceuted a written assumption agreement sccepted in writing by I.ender. Lender shall rekase Borrower fran all
~ - oblijations under this Mortgage and the Nae.
s Tf Lender exercises such option to acceknte. Lender shall mail Borrower notice of accekration in accordancti w•i~h
~ pan~raph 14 hereof. Such notice shall provide a period c+f not less than 30 days from the date the notice is maikd within
which Borrower may pay the wms declared due. if Borrower fails to pay u~ch u~ms prior to the explration ot cuch peric~d.
I.ender may, without futther notice or dcmand on Bomower, invoke any remedia permitted by pan=raph 18 hereof•
NoH-Ut+~r~M Cover+srn's. Borrower and Lender funher rnvenant and a~ree u tollown:
~ ls. Accekratfo~: Rewedie~. Eue~t as ~roviaed h p~~~a~M 17 ~ered. ~ lomwe~'~ Meac~ at aq e~~eaa~t K
~ a~ree~e~t at i~rower I~ tUls Morl~a~t. f~t~ tre tore~sMS'lo ~ wiu~ ire My s~ss seews~ y tW Me~~e. t.ewier
_ prior to acceieialio~ sra/ ~sil wotke to ion~ower as rro~iAed 1~ pra~rs~l~ 11 ~eat qecity~t (1) Ae M~e~ck: (21 tl~e setbw
~ ~reJ N a~e s~ Meae~ (3) ~ LIe. ~ot les tYs~ 30 d~s tr+ow~ tre ~a1e N~e ~elfce b Wlei 1~ tbe wetice ~py res~it~
g ~eac~ ~~t ~e nre~ ~i (4) tW faibre to cae s~e1~ MeaeM ow K retas tre ~ts ot t~e rr~o~ery. 71K ~etice
h aeeele~Mfo~ d Itie wr uewe~ by tl~ Marlsa~e, ro.~~•n h i~ r~
~ ~haM t~rfrer hto~ ~onower ot tre ~M to ref~state aftet acceleratio~ swa ttie ri~M b arc~t iw tl~e toe~elos~re Noee~~
lie ~ore=bte~ce ot a ~et~lt or asr otrer aetew~e ot Sorrower to secekrdio~ a~ toreclowrre. N eMe brac~ i~ ~ot awe~ e~
or 6etorc the hle yeeiic~ i~ tl~t ~ofke. l.ewder st I.e~e~'s o~1io~ ~y' ~ r e~ tMe s~~ seeus~ ti tY~ A'~~rt~e f~ be .
~ e,,.,~.~ a~ a.i p~e ..~oa t.~~ a~~~~a aae ~r ro~~o.e ea. ~t«+oe~ b i•+k+r ~ee~a~.~. [.~e~. ~
~ be e.tlde~ eo eoYeet i~ wer ~ecee~i.~ r esvcases ronc~oswe, I~cl~+i~. e.t ..t wle+ t.. rs~Ye sn•~r~er's fsa.
~ ri e~os4 d ioe~.~e~t4 e~ide~ee+ ~brtracls mi tkk rcprb. -
1!. lo~o~a's R~t ~o Rei~~. NMwithsundin~ Lender
s accekrotion of the sums socured by th~• Mort~a=e.
Borrower shalt haYe the right to have any proceed~ngs he8un hy Lender to entora this Mort~se discondnued at any pme ~
BooK 3U3 QA~E 619
~ .
~
~i_e3- _ _ - - - - - ~ ~r,y,„.;:~„ ~
- ~ a ;
- _ h~.-x
~ _ ~1
_ _
~i~
_ . . _ - ~i::~.:a...-,. , _