HomeMy WebLinkAbout2594 I t'ndi! , ++ftl ti'n :Igrtt'Il:i nl ~+t :ylilit, .thlr Id:+ lit •ffu•.\rl \11.1?? I+a\ lilt' :Itnaltnl al .Ill martga~g In}Ufant'C iit(~it lltQl? 111 Ihr
nt,utnrr ittt~+,diJ undet I+:u,tgr,ylh ltcrrtN `
:\n\ ;un,v:nt, di,hutcrd by I ender luu,n.ua t,• +hic {~.ua_ral•!t t+tth ,otruct Ihrrean ,hall ht:atnr addiuan:t! '
ntdrh•rdnr„ at liarrt+:+rr crruud h+ th!, \It+!t~•.:r 1 nlrc, Ra:t,••+rt .unl I tn.!rr ._•r_t• to athtr ttrnt, of Itavmrnt. sorb
amaunh ch,dl iv ha+ahlc ujt.~n aau;r item I rnt!tr n• li,ttn•:+r: n•yur,tin~ Itavntrnt Ihrrt.•t. and ,hall hr.n iurt•rrct fnvn the
d.,tr of di,h;!rcrment at the tact pacahlr Irtan time ttt umc an outer:mdin~ princip:d under Ihr \atc unit:,, pa~•ment of
inRu,t ,tt such tact t+uuld i,r camran• d+ aplllirahlr la++, ut ++htih event wrh amount. shall Ix•ar ntteuct ;tt the hi;hed talc
Ilrrmiscihlt under applit:ahle la++. '~otlting contained in this paragraph 7 shall uyuirr 1 ender to incur anv rvpcn,e or take
anc a:t:un hruundcr.
R. Inspection. 1 rntlcr ntav mar rr sauce U+ he made rraconahlr tntrirc ups+n and incpt•ctitatc ttf the Praprrt)•. provided
that I rntlcr ch:dl give Bornt++er nnticc nrirr to am• such in,lxcttott ,i,r;if~utg rrawnahlc cau,r Ihcufar related to l endrr'c
intrrrc? in the Prtlprrty. .
9. Condcmnalion. T}tC prc?tcedc titf am• a++ard t+r claim for damages. direr) err aut,ryurntial. in canoe, tirnt ++•ith ;tm•
,andemnatiun or other taking of the Property, or part thererf, or for cunveranrr in lieu r+f condcmnalion. art heuh}• accigncJ
anti .hall 1?+r paid to Lender.
In the event of a total t;?king rf the Pntprrlp. the pn•~erdc ,hall I,e applied to the wmc scented by chi, \lortgage.
Hith the rvrr,c. if an)'. paid to Rurntwcr In the c+•cnt of a partial takini al the Pmpcrl:. unh,c Rarrr++tr and i.cndrr
tahen+icr agree in +vritint. thcn• shall I+c applied to the wmc secured by chi, Mangy:tgr ,nth nropt+rtirn of the prcxeedc
ac i+ eyu.d t.. that pn+partitat ++hich the :unaunt of Ihr cum, ce;urrd h+' chi, ]te+rtgagi imntrdiatrly prior to the date of
raking Ilrarc to the fair mar3,et value of the Proprrt~~ immediately priarttt the date of taking. ++ith the hal;utcr of the pmrretlc
paid ttt Bormwcr.
if the Properl~• i+ abandoned h+' llornl+ver. or if. after natirc he 1 ender n. &trrt++vrr that the crntdemnor offers to make
:ut award err settle a claim for d,nnaeec• Rarrawrr L•tih to re,pttnd to I ender \+ithin in derv, otter the dolt such nt+ticr is
nrtiled. i.rndc~ is ;atthori~ed to rnllect and apph• the pmrredc.:+t I rnder'c option. either to restoration t+r repair of the
Pn+pt•rtc or to the •:um, secured ht chic '\tarlgagc.
t'nlrc, I ender and Bot ru+?rr ,+thrncicr agree in t+ritine.:uty ,u.•h ahpG~.,tiun of pro:ccdc to peso: ilt,,l ,hall oat cvtttnd
t+t pttc,pane the due J:dr of the ntanthly inctallmrntc ufrrud to in ~.trtgral•h, •i and ~ hereof rr rhatu•t the amtantt of
,uch inctalhnrntc.
10. Borrrwer mot Relersed. 1?vtrmion of the tints far patntrnl or madifi.•:uittn of amartiiation of the vtmc crrured
by thtc '~lartga~e granted h} 1.rntlcr n~ :ut+• utrcr,u?r in intrrr,t t+f Brrro++er hall not altrrate to ale;ter. in anc• mannrr•
the liability of the t~ricin.tl Rarra:+rr and Barro:+rr', cnca„ar, in intere,t. I r!tdcr shall oat Its rryuirrd to comntcncr
hn•;erdingc aLainst curb wrcccct+r or refuu• to rvrnd tints for pavntrnt or athrn+i,r modify :tmortiraNrn rf Ihr wms
,r.urctt by chic Mortgage ht mast+n of am' demand nrtdr h\ Ihr rrieinal liorn~+vrr and Barrawcr'c uttrrc,ar, in interest.
I1. Furherrance by Lender \ot a ~~'aiver. •\ttv farhrarana h\ I rndr~ in ecrn•icing anc right or remrdc hrutmdrr_ or
~•thrtwi,e alTardcd by applicahlt law. ,hall oat hr a +vaivrr err preclude the r+rrricr of anc ,uch ri~~ht err untech
"The pntrurrmcnt of incurancr or' the pa+nltnt t+f ta+e, at other lien, t,r rhargt, M~ 1 rntlcr ,hall not Flt a :t:uvtr of 1 rndcr~s
right a+ acrrlrrttr the maturih of the indthtrdnt„ ,r_urrtl h\ chi, \1art,aet.
12. Renu•dicc ('umul:divc. :\!I re?nrdiec pea+idrd in chi, \1,vtgaer art di+tin,t anti cunutlativr In ,tot .abet right err
:tmeth tmdrr thi, ~torigarr t•r alTardtd by la+t t•t cyuin. anti m:t+ Its r+rrri,rtl ian,u:n•ntly. indcltcndrnt?\ ar',u;.r„i:rh
li. Successors and .\ticigm Bound: Joint ar:d tic+cral Liahilih: ('options. lhr ra:rnants and .tgrrrntrnl, herein
,onrtincd shall hints. and the rights hrrrundcr shall ~nurr t.•. Ihr u,prrti+r solve„rn and ac,ignc of 1 rntlcr :utd Barrawrr.
,uh;rrt to Ihr l•n vi,ion, .•f p;uagrtph !7 herrol. :VI cu:rnanl, an.l agrrentent, of Rarra++rr shall hr faint ;ntd cr+eraL
fttr caption, :,nd hratiin•~, rf the Itar,r~rti.h, rf Ihic \1ort~agt are far canvrnirn~r only :mtl arc net to he used to
ntltrt+rrt err define the {trm i,ian, hcuaf.
14. notice. Evcrt~t far am• nnt~.c rcyuind antler aP?•!i; able la•., tr hr t_ivrn [n :.rather manner. /at anv nMix to
liarrat+er pn++tdtd tar in chi, \lurtea~•r .hall is Ott:n h: mai?in_• ,u;h r=.atrr h\ +rrtiTtrd uteri) addre,~.d tt• Rurm:+rr at
the Pngtrrn :\ddre„ err at ,uch alittr ,tddrt„ a. Barrt,ntr m..: dr,i~•n,ar by oats. to I rntlcr ac t•ra:idtd herein. and
~h! ;u;: nrti.r to 1 coder ,hall he !•hrn by itrtiiird mail. rr:t:m !=:ii:;~t rtaut,tid. I rntlcr', ad,luc, stated herein or to
,n.'h other :uWrr,•. 1 ender nr,tt tlt,ign;+te h+ m•ti:r Rt•sn•:+rr ;n ?.ra+ulr.l herein \nv nadir pravidtd lac in chic
\tt+rtcaer shall hr dtrnttd to h.t+r been given to li,trratctr err 1 sutler :+hrn L'i.tn in the mannrr Jc,it:natrd bruin.
15. (•nifurm \lurlL:r>;c: Gnvcrninti l.a++: Sc+crahilih. ~I!u, tr. m t•t nuvtt_a~•t . anthintc uniform i~•+'tnant, far n:utonal
.I~l :Md nall llmtafln la\l'!t.tt'r, \+Ith Ilmlttd \:Irl.lllan, h\- tllf l,d+~llt`n tt` Lan\11tlltr :1 1ltlltalm ,l•~!IrIIC In,tr11111tni la\Crlltg
real pruptrn. 1hi, \Iarteagr shall Fx imtrnrd hl the lat+ rl the iuri,tli:tn+n :+hi;h !hr Prupert+ i, I,tratr.l In the
~:cnt that anv nn.vi,:an err rhul,t ut chi, \iart„t•_r t•r the \atc :ant!i.t~ .+ith .tp~iii;thlc Lt:t. ,u.h ctmlli;t ,hall not alTecl
,•thtr pra+l,iam of tfitc \larte:rc err the \tat• .+tu.h pan !'r •_1\rn rtlr:t ~+i!ht+nt ihr rt+ntli.tin~ ttmti,ian. anti to this
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.!;t. the Itratt,mn, rt ihr Varh~aer and ihr \,ar air ~1t.:larrd to 4.t ,tvtrahlr.
16. Borrower's ('op+. Barn,t+tr ,hail h.• futn~,hi,'. a ,.~ntannrd :a?•: t~f the \t,ir and of !hn \lart ~a>;t at the time
.~t evrctttion err attar u~i+rdation heuaf.
~ 17. •t'rancfc•r of the Pmpert+::~cwmption. li alf t•r :ut+ s~.trt ai tL•r Praptrty t,r an rntrrcct therein i, ,old or trancfcrred
p ' tar the crratian rf alien err cncnmhrutcr whordinatc to
Rorrt++vrr ++uh.att Lrndrr'c nor :+tittt:~ tan,tnt. :v..:,dim•
! chic Martgacc. Ihl ihr crrahon of a iturcha,r mane. ,rtnnt+ nnrrt;t f,~r hau,rhrld applianrrc. (rl a Irtn,frr by devise.
dr,ccnt rr by ulttrttinn of htt+ upon the t!ta:h ,.t .f i,.,nt n•nant t•r tth 'hr grant of anv ItacrhaW intrust of three year, or Ircc
I net canLtining :tn rption to Itunhacr. l ender n+;n..tt I coder', ,,ht~.•n. dr,Ltrr all the wm, secured by this \lortgagc to he
t :r;untdcthl: dnc and Itavahlr. 1 rntlcr ,h,dl h,t+r ++.u:rti ~t~.h t+puon 'a arrrlrrttr il. prior ht the ,ale t+r transfer. Linder
4 rn,l the percrn tr :sham the Praprrt: i, to hr ,a't! rr tr ~r•,ttrnJ rea:h agurmtnt in +vriung that the rrctlit t+f utrh person
z san,facton to 1 snort and that the intrrr,t {ta\,thlr the ,ant, ,traced by chi, \lartgagc shall he at such rate ac Lender
,hall reyutct. If I cndtr ha. +vaivcd the aptlan to ac:r#rr;ttt pm:idrd in chic para~_raph 1?, and if Barm++rr'c ,urrescor in
ntrrect ha, e~ecutcd a ~+nttrn assumption .tgreentrnt accrr•trd ir. ++riting h+• 1 ender. i rntlcr shall retract Barraarr from all
t~hlie:rtictm under chi, \lorteaCC and the \trte.
if 1 rntlcr evrriict, sn.h option tr arcrlrr.ttt. I rntlcr ,hall mail Barrat+rr natr.-r t•f aricicratian in acranlanrc with
Iaragraph t-3 hereof. finch notirr ,hall pravtdt a ptrird of mgt It„ than ill dac. intro the date ihr nnticc is mailed within
'.thich Bt+rra:vrr mtv p;rv the vans dc;taud dnc. It lit•rr.,•.ttt tall, to pa: such ,nmc prior to the r+piratian of wch prntxl.
Lcntlrr mav.:cithaut further native ter Jtmand n!s Itarra\+tr, m\al.e am rtntedicc itcnntttr;l by paragraph IS hereof.
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E Nos:-Uvn t?ttst (•U+'F \XTS. Borrower and I ender further revenant and erects as folluv+s:
18. Acceleration: Remedies. Except as prn+~ided in paragraph 17 hereof, upon Borrowers breach of any rnvenant or
agreement of Borrower in this'\lortgage• including the cu+enantc to pay Nhen due am sums secured by this 'Mortgage. Lender
prior to acceleration shall mail notice to Borrower ac provided in paragraph 14 hereof specifying: (1) the breach; (2) the action
required to cure such breach; (3) a date, not lest than 3(i days from the date the notice is mailed to Borrower, by which such
breach must be cured: and (41 that failure to cure +uch breach on or before the date specified in the notice may result in
acceleration of the sums secured by this Mortgage, foreclosure by judicial proceeding and sale of the Property. 77te notice
shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding
the non-existence of a default or anc• other defense of Borrower to acceleration and foreclosure. if the breach is not cured on
or before the date specified in the notice, lender a1 Lender's option may declare al! of the sums secured by this Mortgage to be
immediately due and payable without further demand and may foreclose this 'Mortgage by judicial proceeding. Lender shall
be entitled to collect in such proceeding all expenses of foreclosure, including. but not limited tn. reasonable attorney's fees.
} and costs of documentary evidence. ab+tracts and title reports.
19. $orrower's Right to Reinstate. \lot+vithstanding Lentlcr'c arccleratutn of the sums secured he this Mortgage.
Borrower shalt have the right to have am' proceedings Flegun by Lender to enforce this Mortgage discontinued at any time
3Q~K 3UT Y~~~~593
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