HomeMy WebLinkAbout2770 Lender's written agroetnent a applicable law. Borrower shall pay the amount o[ ap rrwRgage iaitrranoa praniums is the
manner provided under paragraph 2 heroot.
Any amounts disbursed by !.ender purswnt to this paragraph 7, with interest thereon, shalt become additional
indebtedness of Borrower xcut+ed by this Mortgage. Unless Borrower and Lender agree to other tenra of payment. such
amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
date of disbursement at the rate payable from time to time on atistanding principal under the Note fatless pa~?enent of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest tale
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur say espeeas or take
any action hereunder.
fi. lat~eeliotr. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
that Lender shall give Borrower notice prior to any such inspxtion specifying rtasoaabb cause therefor related to Lerrda's
interest in the Property. ~ ~
9. Coadearrralioa, 'T'he proceeds of any awar+d'or claim for damages, direct or consequential, in oonrrectioa wilt any
condemnation or othtr taking of the Property, or part thereof, or for conveyance in lieu of condemnatioq, are hereby assigned
and shall be paid to Lender.
in the event of a fatal taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage.
with the excess, it any, paid to Borrower. Tn the evrnt of a partial taking of the Property, antes: BorroMrer and Leader
otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such. proportion of the pr+oceedt
ss is equal to that proportion which the amount of the sums xctrrod by this Mortgage immediately prior to the daft: of
taking. bears to the fair market value of the Property immediatety prior to the date of taking, with the balance of the poceeds
paid to Borrower.
If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the oondemrror of[ers to make
~n award or xttk a claim for damages, Borrower fails to respond to Lender within 30 days after •the date such rrotioe is
fiaikd, Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair o[ t>be
Properly or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shag not attend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount o[
such installments. •
lt. Borrower NM Rekasei. Extension of the time for payment or moditkation of amortization of the swra secured
by this Mortgage granted•by Lender to any ctrccessor in interest of Borrower shall not operate to release, in any manner,
the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commerroe
proceedings against such sttecessor or rcfux to extend time for payment or otherwise modify amortization et the sums
secured by Phis Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
11. Forrearartce r7' Lanier Not a Walvtr. Any forbearance by Lender in exercising any right or remedy heretmder, or
otherwise afforded by applicable law. shall not be a waiver of or preclude the exercise of any such right or remedy.
The procurement of imuranoe or the payment of taxes or other liens or charges by Lender shall not be a waiver of Larder's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
It Rerneiies CaatahN~e. All rt:rrredies provided in this Mortgage are distinct and cumulative to any other right or
remedy tinder this Mortgage or afforded by law or equity, and may be exercised corrcurnerrtty, independerttty a wcees:ivety.
13. 3aeesasats sad Asigas liiotrai; Joint arri Berets! I.iabiMty; CaptMns. The covenants acrd agreements herein
contained shall bind, and the rights hereunder shall inure to. the.rcspective successors and assigns of Lender apd Borrower,
subject to the provisions of paragraph 17 hereof, All covenants and agreements of Borrower shall be joirB and several.
The captions' and headings of the paragraphs of this Mortgage arc for convenience only and art: not to Ik used to
interpret or deAne the provisions hereof.
14. Notke• Except for any notice required under applicable law to be given in another manner, (a) any notice to
Borrower p~ovidod for in this Mortgage shall be givrn by mailing such notice by certifkd mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to ietrder a provided herein, and
(b) any notice to Lender shall be given by certiRed mail. return receipt requested, to Lender's address stated herein or to
such other address as Lender may designate by notice to Borrower ss provided herein. Any notice provided for in this
Mortgage shall be deemed to have been given to Borrower or Lender when given in the nnamrer desipated herehr.
iS. Uaitorre MortpBe; GorcraiaR Law; Serera6iKty. This form of mortgage combines uniform covenants for tsstiaral
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security iratrurnent covering
real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In~ the
event that any provision or clause of this Mortgage or the Note conflicts with applicable law, :trclr conflict shall not affect
other provisions o[ this Mortgage or the NMe which can be given eQect without the oonAicting provision. and to tha
j end the provisions of the Mortgage and the Note are declared to be severable.
lf. litort+uwer'a Coq. Borrower shall be furnished a conformed cc>p)• of the Note and of this Mortgage at the tune
of execution or after recordation hereof.
17..Traasfer of the >rro'erty; Aswwrpiow. if a!1 or any part of the Property or an interest therein is :old or transferred
by Borrower without Lender's prior written consent. excluding (a).the creation of a lKn or encumbrance subordinate to
this Mortgage. (b) the crcatiorr of a purchase money security interest for household appfiarroes, (e) a transfer by devise,
descent or by operation of law upon the death of a joint tenant or fd) the grant of any lesaehold~interest of three years or less
not containing an option to purchase, Lender may, at Lender's option, declare all the sums ttecttred by tha Mortpge to be
immediately due and payable. Lender-shall have waived arch option to accelerate if, prior to the sale or transfer. Lender
and the person to whom the Property is to be cold or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall-be at such rate as Lentkr
shalt request. Tt Lender has waived the option to accelerate provided in this paragraph 17, and if Borrowers strcexssor in
t interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
obl{ptions under this Mortgage and the Note. ~ •
If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
~ paragraph 14 hereof. Such notice shall provide a period of tort less than 30 days from the date the notice is mailed within
which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the aspiration of such period,
Lender may. without further notice or demand on Borrower. invoke any remedies permitted by paragraph 18 herrnf.
NotwUxrtaorest Covttvwt~tvs. Borrower and Lender further covenant and agree as toBows:
li. Acederalior Retaeliea. E:ee}t as provftled b NragrapU 171resest. t~ )Mrnwes'a Meaer et ttq a~asif K
agrseseat of >Mrrower r tr4 Malgage. faersilag ere coraraats M !a7' whet, tae atgr :arses oatttaei r9 Iri Merfgage. Laatkr
' prior N aceekrtrgars dar maY aotke b •omwer as provNN M raragtapr 14 hereof speel[yiags (1) ere rtwcr; (l~ ere actMa
tptiei M ante turd iaeaelq (S) • dale. net its gran 3! days Iran tare ~ the aat~ee f. t~aiei N twrower. b wrki wdr
rteat:r samtt k eot~ asti (q tttnt faYrrt~e N earn taxr rreacr ow K rd~re trc sale speerei- r fire sretke wq resait r
accekratiaw et ere owu aee.red y tlrit Mortpge, faaAewre y jiaiiclal prcee~ ttai ttalc .t ere >lrgerty. 'rare aatke .
oW finer infoem •onrwer et tfre right a teir~lNe tttler aeeeierMioa ant fire right N ttaseA V the taseeiassr~e ptreaeig
tre ~ it a iehfalt er tray tlrer +ie%wse er s«rower w aceekralj.. ttsri fer~eeMaita r tf+e rt+eaer i s+ae anted..
er before IMe tale gatYai t• flrt aolke. Easier N I.eii:r's epflen tttay tlleeiare ar at Into tattaa otcwd r! tri Mattape la rt
iraastiialeiy itst atri Marie witlsoN itwttrer deirand sad say fateclooe Iii Mer~agt b ltrikW ptreeediatt. Fender dra¦
re eafWei w caiatt r ttad praeeeiiag ar arpeasa of totecloaire, irseliilag. rat watt ffttrflai la. tatiatrarit tMturrrer's fees.
ant cues!: at ie~eahry erMeaet, arofraela tttri Ntle te/atb.
1!. Itirtrwn'a R4M a ReiaMate. Notwithstanding Lender's acceleration of the sums secured by thn Mortgage,
Borrower shall have the right to have any proceedings beEun by Lender to rntonx this Monpge discontinued at any time
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