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HomeMy WebLinkAbout1173 _ ~ . ~ ; l.ender's written agrceme~t or applicabk I~w. Borrowe~ shall pay the amount ot all monasge iasura~ce ~qaniums ~a tbe maaner p~ovided unde~ paragraph 2 het~eot. /1ny ~mounts disbursed by I.ender pursuant to tha puaarsph with interest thereo~. shall become additiooal ~ indebted~as o( Bo~rowe~ secu~od by ~his Mo?tgaae. Unless Borrower a~d LenJe~ aaoee to othe~ tem~s of paymeM. wch amounts shall be payabk upon natice f~an I.ende~ to Bonower requestina payment Ihercof, and shall bea~ interdt fr~nm the i date of disbursement at the ratc payabk fmm time to lime on a~tatanding p~incipal ur~der the Note ut~kss pay~aeat ot ' interest af such nte would be contnry ta applicabk law, in which eve~t such amounts shall bear interest at the hi~ rs~e permiuibk under applicabk law. Nothin6 contained in this pa~agraph 7 shall require Lender to incur aay expe~ae.or 4te ` any action hereuader. ~ s. in~eetio~. I_ender may make ar cause to be made rcuonabk eMries upon and inspections of the Arope~ry?. p'ovided ~ that i.e~der shall give Borrower notice prior ta any such inspeclion spocifying reuanabk cause therefor rolated to La~der's ~ i~terat in the PropertY• 4 9. Co~de~~stb~. The p~oceeds af aoy award or claim for damaga, dircet or consequential, ie conneetioo ~vith any condemnatan or other taking of the Property, or pa~t thercof, or for conveya~ce in lieu of condemnation. are he~? s~i~ed ' a~d shall be paid to Lender. i in the event of a total taking of the ProExny. the proceeds shall be applied to the sums xcured by this Mcrt~aae. = with the czcess, if any, paid to BoROwer. In the evem of a paNial taking ot the Property. unless Borrnwer and I~der ; otherwix aaree in writinE. Iher+e shall be applied to the sums securcd by this Maigage such proportion of the prooeed~ ~ as is equal to that proponion vrhieh the amount of the sumc securcd by this Mo~tga~e immediately prior to the dat~e ot . takins bears to the fair market value ot the Propeny immediately prior to the date of taking, with the balance of Me prnoeods } paid to Borrower. • ~ . if the Property is ahandoned by Bor:ower. or if. after notice by Lender !o Borrower that ti?e tondetnnor ol[ers t~ maice ~ an awaM or settk a claim for dam~ges, Bc?rmwer fails ta ~espoAd to l.ender within 30 days after'the date wch notioe is s maikd. Lender ix authorized to collect and apply the proceeds, at i.ei~der's option, either to restoration or n~tir ot tba r t Prcpeny or to the sums secured by this Mor~ga~[e. i Unlas 1_ender and Borrower dhervvise agrce in writin~, any such application of procetds to principal shall nd exta~d ~ or postpone the due daie of the monthly installments refened to in paragraphs I and 2 hereof or chanae the amount of such inslallments. ~ f~. dorrower Not Releasei. Extension of the ~ime for payment or moditication of amortization of the sums secured by this Mottgage gnnted by Lender to a~y cuccecsor in interat of Borrowe~ shall not ope~ate to rekaie, in anr manner, the liability of the original Borrower and Bc?rrower e successors in interat. Lender shall not be required to commenoe proceedengs against such successor or rcfu~e to ette~d time for payment ot Mherwix modify amortiiation ef the sums secured by this Mortgagt by reason of any demand made by the orittinal Borrower and Borrower's wccessors in intercst. 11. Forbeara~ce 6y I.twaer NM a Wairer. Any f~rheannce by l~nder in exereising any right or retriedy heretmder. or othe~vvise afforded by applicabk laa, shall nc~t be a waiver of or proclude the exercise of any such riaht or remedy. The procurcment of insuranoe or the Payment of taxa or other liens ~ charga by Lender shall nd be a waiver of Le~da~'s ~ght ta accekrate the maturity of the indeMedness ~ecurcd hy this Mortgage. t 12. Re~edks Cpa~Wi~e. All remedies provided in this Mongage ar+e d'atinct and cumulative to any other risht or ~ remeciy under this Mortgage or afforded hy law or equity, and may be exercised concurrently, independently or successivety ~ ' 13. Sreee»as a~d AstRas Dound:.Joi~t a~ Se~ed Ihbi~ry; Csptiows. The oovenaats a~d aareemrnu I~ereie oontained shall bind, and the »Rhts hercunder shall inur~ to. the respective successors aod assig~ of T.ender apd Borrower. subject to the provisions of paragraph 17 hereof. /111 rnvenants and agraments of Borrower shall be joiry and sevenl. 'I1~e aptions' and headings of the paragraphc of this Mortgage arc for rnnvenience only and a~e not ta 1k uxd to interprct or de6ne the provisions herec+f. 11. Notiee. Except for any nc+tice rcquired under applicabk law to be given in another msnner, !a) any notice to Borrower p~ovidod for_ in this Mortga¢e shall be given by mailing such ootice by certiflod mail addressed to Borrower it the Pmperty Addrcss or at such dher addres.c as Bormwer may designate by notice to T~nder as proeid~d hercin, and (b) a~y notice to Lender shali he given hy ceNifxd mail. retum rooeipt rcquatod. to LendePs addrem stated hercin or to such other address as Lender may deci~tnate by notice ta Borrower as provided hercin. Any notice proviaed for in this Mortgage shall be deemed to have been given to Borrower o~ Lender when given in the manner desitnated herein. ' 1S. Uwitonr Mort~aRe: Co~eniaqt Lw: Se~crab~ty. This form of mortgage combina uniform covenants for national ' usc and non-uniform covenants with limited variations by jurisdiction to constitute a unito~m aecurity instrument ooMerir~ _ ~ tsal property. This Mortgage shall be governed hy the law of the jurisdictio~ i~ which the Property ~ocated. In the ' f event that any provision or clause of thic Mortgage or the Note conflicts with applicabk law. such conAict shall not alfect ~ other provisions of this Mortgage or the Note which can be give~ eQect without the conAictina provision. and to tha t end the provisions of the Mortgage and the Note arc ckclared to be severable. ~ lf. ~orrower's Copy. Borrower shall bc furnished a conformed cop~• of the Note and of this Mortgase at the time o[ exocution or after recordation hercof. 1~. .Trarfer ot tbe h~o*etty: Asnw~Waa• If all or any part of the Propetty or an interat thercin is sold or tnnsferred by Borrower without I.ender's prior writtrn consent. excluding (al the cr+eation of a lien or ehcumbtance wbordinate to this Mortgagt, (b) the crcaticx~ of a purchaa money xcurity interest tor household appliances. (c) a transfer hy devi~e, dacent or by opention of law upon the death of a joint tenant or (d} the grant of any kasehold iniere:t of thrcc years or kss not containing an option to purchase, Lender may, at Lender s option, declue all the sums aecured by this Mortgase to be immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sak or transfer. Leoder a~d the person to whom the Propeny ic t~~ be cc~IJ or transferrcd reach agreement in writinj that the crcdit of cuch person is utisfactory to Lendcr and that the inten~t payabk on the sums secured by this Mortga`e shall be at such rate as Lender sha11 r+equat. if Lender has waived the option to acalerate provided in this paragnph 17. and if Borrower s succawr in interest hu exceuted a writteo assumption agreement accepted in writing by l.ender. Lender shsll rckase Borrower from all oblustions under this Mortgage and the Nae. If Lender exercises such option to accelerate. Lender chall mail Borrower notioe of xcekntion in accordancti v?•~~h pan,~nph 14 heroof. Such notice shall provide a period c+f not las than 30 days from the dste the notice is maikd within _ which Borrower may pay the sums declared due. It Borrower fails to pay such sums prior to the expiration ~f cuch peric~d. [,e~der may, without further notice or demand on Borrower. invoke any rcmedia perm~tted by psra~raph 18 hereot. Noi+•UNIFORM COwlNANTS. BORO'M?t~ if1~ Lltldt~ tU~lllt~ COrt11~t1t ~Ifd i~R! Sf fOI~O~Irf: ~ li. AcedenNo~ Reweiks. ~:ceM a~ !ro~{ded i~ M~~N 17 rereot. ~p~ ~orn+~e~a ~esc# d a~y ee~evM K ~ a~a~t d i~rrower i~ tY4 Mo~e. bel~~i t~e co~e~wts to pf wbe~ ~re a~y wws iee~si h tW 1NerfR~e• 1.~ ; ~ rr+or a.ccele.~u.. d~.uN.otke to ~or~o..er a~ Ke.ide~ tw P~s~N 1~ ~a~eet qe~l.s: tt) a~e waci: t21 n~c setMw r~ird b t~e At~ i~wel~ (3) a ~1q ~ot Ids tls~ 3~ dsys t~+om fUe date Ire ~etke i~ wrie~ N Nenwet. rp w~k~ we~ i~sae~ ~t re ewe~ a¦~ (4 trat f~wre ~o cw~e wcb brsacl~ o. or retoR t1~e aale s~sel~e~ t~ tl~e ~ake wsy ee~lt b scteientiN o[ Ire wr scere~ bp ti~ Mo~a~e. to~sebwrt b~dkW M'~K~ ~wi de e1 H~e h~o'erfy. 'IUe w~tlct LL: sW tuVe~ ht~s ~o~wer ot tre riRM ts ~e atter ~ccek~Miae a~i tre ri~it N~e~t i~ tbe tareelew~e Noe~eii~ ~ t~C .o.~e~Me~ce et . aer..N or awy otbe. ier~se or sor.n..er to sccekr.efo. s~+ to~eelo~re. M ll~e rrescr r..e c~ or before t~e hle qetlier i~ fie ~otic's. l.e~er at I.e~der's o/tiow ~ ~eelre aN et Me w~s stews~ ~r fY~ 1Nerfpl~e Is ~e _ iw~s~el~ dre a~i My~Me wNbN t~uther demand a~i ~ to~etlo~t N~it Ma~a~t r!' j~ikW M~cse~I~R. I.~nder dall be eMNiei t~ ca~ett i~ wt~ ~oeetdi~ a/ tspe.ses ot foretlo~ne. bel~i. ~t ~N Nile~ M. reareMMe staxseYs fees. ~ a~i arb of ~oe.-~e~hq? r'i~se~? abdrse~s a~i litk ~e/~~b. j!. ~ro~p's it1~t t~ Reirtate. Nc+twithstandin~ Lender's acoekntioo of the sums secured by thn M~Ata=e. ~ gorro~ver shall bave ihe ri~ht to have any proceed~n6s hegun F+y Lender to entorce this Monpfe discontinued at any time ~ ~ - ~-~~~x:312 f,,;E1171 x~ 4~ £ _ _ . _ _ ' . ' ' - - _ ..Ya---. ~,~>~.~a_~..i"'3.e~ up ~ ~ ~ ~ x a,- ~a- .