HomeMy WebLinkAbout2135 , Lender's written agrcement or applicaMe law. Bormww sball pay the amount ot all mortaa~e uuuranoe premiums ie tbe
manner provided unde~ parsa~aph 2 hereot.
Any amounts disbuned by I.ende~ punwnt to this panaraph 7. with iaterest theroa~. shall become additional
indebtedness ot Borrower secured by ~his Mortgate. Uokss Bomowe~ and Lende~ aatoe to o1he~ terms of paymeM. such
amou~ts shall be payabk upoe nMice from I.q~derid ~otrowe~ requeslina payment thereof, and shall bear inte~pt frota the
date of disbursemeot at the ate payabk t~om time to time oe outstandins principal under the Note unkss pa~nt ot
i~terest at such n~te would be contnry to applicabk law, in which event such amounts shall beu intenxt at the hi~ ra~e
permi~ibk unde~ appticabk law. Nothing contained in this panaraph 7 shall require I.ende~ to incur aay expe~ae or t~te
any action hercunder.
S. l~eetio~. i.ender may make or cause to be made rcasonabk eo~ries upon and inspxtions of the Propert~r. provided
that Lendw shall ~ive Borrowe~ notice prior to sny such inspection specifyina rrasonabk cause tM~etor rclated to Lender's
interat in the Propeny.
9. Co~ie~autbw. The proceeds ot any award or claim tor damaaa, direct ar rn~sequential. in eo~u~ectioe ~rith an)
coodemnstion or other taking of the Property, or part thercof, or for cooveyance in lieu of coodemnation. are he~r ~ed
and shall be paid to Lender.
in ~he event of s tot~l takinE of the Pmpeny. the proceed: ~hall be applied to the sums xcured by this Mortsase.
with the excess, if any, paid to Borrawer. In the event af a paNial taking of the Property. unlas Bor~rer and I~ender
otherwise aara ie writin~t. the~e shall be applied to the sums sxurcd by this Mortgaae soch proportio~ of the prooeedt
u is eqwl to that p~opohion which ~he amount af the sums securcd by this Mortga~e immediatety prior to the d~te d
t~lcina bears to the [air markct value ot the Propeny immediately prior to the date of taking, with the balanoe of the ptooeeds
paid to BomnNrer. -
If the Piroperty is abancbned by Bor:ower, or if. after notice by Lender to Bomower that the oondemnor olfets to tnaios
an award or settk a claim for damages. Bormwrr f~ilc to res~o~d to ~ender within 30 days after ~the date such notioe b
mailed, Lender ic authoriud to colkct and apply the proceeds. at i.eoder's option, either to ratontion or tepair d t6e
Property or to the wms securcd by this Mcxtga~[e.
U~kss Lender and Borrower othervvice agrce in writing, any such application of proceeds to principal shall not ptta~d
or pos[pore the due date of the monthly installments referred to i~ parsgraphs 1 and 2 heroof or chanse the amouM d
such iostallments.
lA. Eo~rower NM Relea~ei. Factension of the tinx for payment or rteoditkation of amortizstioe of the wms secur~ed
by this Mortgage ganted by Lender to any cuccec.wr in intercst of Borrnwer shall not opente to reksu, in any manner.
the liability of the original Bomower and Bc?~rower
e s~~cces.sors in interat. I.ender shall not be roquircd to tommenx
procoedi~as sgairat such succeswr or rct~~se to extend -time for payment or dherwix modify amortization of the sums
securcd by this Mo~tgage by reason of any d~mand made by the original Bornower and Borrower': successas in jnterest.
l l. Fo~eara~ce i~ Lewaer Not s Wairer. Any forfieannce by Lender in exercising any right or remedy hereunder, or
othenvise afForded by applicabk law, shall not be a waiver of or prcclude the exercix of any sach riaht or nmedy.
The procurcmeot of insuranoe or the payment of taxes or other liens or charg~s by I.ender shall not be a waiver of I.ender's
right to acceknte the maturity of the indebtcd~ess cecured hy this Mortgage.
1=. Reweaies (.'s~. All remedia provided in this Mortgage are diuinct and cumulative to any dher ri~ht or
rcmedy uader this Mortgage or af~orded by law o~ equity, and may be exercised concurrentty, independenily or sucassivety.
' 13. S~ccewrs a~i Aa~ bMUd:.ioiwt a~ Sereral T.isbiYryr, Cs~tiae. The covenaats and aareements herein
oontained shall bind. and the rights hercunder shall inurr to. the respective suocessors and assis~u of i.a~de~ aad Borrow~er.
subjcct to the provisions of puaanph 17 hereof. Atl covenanu and agrcemenu of Borrower shall be joir~ and several.
71~e captions' and headinas of the paragraphc of this Mortgage arc for convenience only and ue not to ik wed to
interprct or de6ne the provisions hereof.
11. Nafke. Eacept for any notice requircd under applicabk Iaw to be given in another manner, (a) any notice to
Borrower p~ovided for in this Mortga![e shall be given by mailing such notive by certifled mail addnssed to Borrower at
Ihe Property Addrcu or at wch dher address as Bormwer may designate by notice to T.cnder u provided hercin, and
(b) any notice to Lender :hall he given by certified mail. retum rcceipt roquested. to Lende~s addras stated herein or to
such other addrcss as Lender may decianate by notice ta Borrower as pmvided herein. Any notiee provided for in this ~
Mortgaae shall be deemed to have bee~ given to Borrower or Lender when givt~ in the manner desipiated herein.
IS. Udtors Mort~aRe; Go~er~iwR Lsw: Sererabiity. This form of mortgage combina uniform oovenants for national
use and ran-uniform covrnants with limited variatioos by jurisdiction to constitute a uniform security i~utrument ornrerina
real property. This Mortsage shall be governed hy the law of the jurisdiction in which the Property a located. In tt~e
~ eveot that any provi:ion or clause of thic Mortgage or the Note conflicts with applicabk law. such conflict shalt not affect
~ othe~ provisans of this Mortgage or the Note which can be given e~ect without the oa~Aictina provision. and to ths
end the provisions of the Mortaage and thc Note arc Jeclarcd to be severabk.
~ lf. Sornower's Co~y. Borrower shal! be furnished a confonned cop~• of the Note and of this Mortgsae at the time
~ t of exxution or atter recordation hercof.
~ 17. .Trwter o~ tre Trn*erty: Aaww~ptiow. If all or any part of the Property or an interest thercin is sold or transferrod
~y Borrower without Lender's prior wriucn consent. excluding (al the cration of a lien or eacumbnoce wbordinate to
'~is Mortgage, (b) the creatux~ of a purchace maney security interat for household appliances. (c) a transfer hv devise.
desoe~t or by opention of law upon the death ot a joint tenant or (d) the grant of any kasehold intercst of thrcc years or kss
not containing an option to purchate. Lender may, at Lender's option, declue all the swns secured by this Mort~ to be
immediately due and payabk. Leeder shall have w•aived such option to aoceknte if, prior to the sak or transfer. Lender _
and the penon to whom the Property is to be ~co1J or Iransferrcd resch agrat~xnt in writin= that the credit of such person
is satisfactory to Lender and that the inten~t payabk on the sums securcd by this Mortga~e shall be at soch nte a~ Lender
shall requat. if Ltnder has waived the opion to acale~ate provided in this parsgrsph 17, and if Borrower
s successor ie
interest has executed a written assumption agrament acoepted in writing by Lender. I.ender shall rekase Borrower fmm all
oblj~ations under this Mortgaae and the Nae.
If Lender eaercises wch option to acceknte. Lender chall mail Borrower notioe of accekration in accordanc^~ a•ith
~raph 14 hereof. Such notioe shall provide a period of not las tban 30 days from the dale the notice is maikd within
which Borrower msy pay the sums declared due. If Borrower fails to pay such sum: prior to the expiration ot such peric~d.
Lender may. without furthu notice or demand on Borrower, invoke any remedia permitted by paratraph 18 herrnf.
NON-UN/FORM COVBNANTS. BOITO'M?!f i11d LtI1dtT fUft~itf COYlB~IIt ~tld i~f~C! as fdlo~ws: ~I
~ i~. Accekntlo~ ltewe~s. FaceM ar pro~Mei M~ra~U 17 Yered, ~e~.~, ~ et ..y _~..s..¦+ .r
~ a~retae~t of ~erower i~ tYi~ Morl~,s~e. ~ I~e corews~Ms to ~ wl~e~ i~e a~r sw~ see~i rj tY~ Morl~~e. I.es~er
~ior M.eeeiei.tl.. ai..Y.otlce a~oen..er as ~no.wea M rrasea~ 14 ~ae~ qeelf~+¦~ t1) a~ he.elr ~21 a~e .~aM.
~ 1~ ewe ~ Mese~ c3) s+.1e, ~a las ua. J~ ~ays rrow eUe i~1e tre .ofke r.aie~ M 1~en..~. y••I~icli s~
~ ~wt ie e~e~ a~i (q tliat tdlrre fo e~e wcl~ MeseM o~ or retore tre aate s~eeYei b the setke ¦uy iewlt i~
et se s.~ .ee.~ei M q~Y Meel~e. hKelow~c h i~~ a.i .~le .t eMe rro'e.+y. 71~e .edee
~ ~ f~elrer i~to~w ~ ot tre riRi1 t~ ~ale af~er iccde~atio~ a~i ttie rf~M Ie arett i~ tre to~selwnt ~seeei~
~ote~ewee ~t ~ ~eta~lt or aq atAer aefere ot Sar~wet 1e ~eceleratio~ a~ torctlowHe. K trt Me~c~ b Mt c~ei M
or Delore tl~e LIe r/eeYei is qie ~odee. l.e~ier st I.ew/ers o~tiow ~ ~eei~re sN af t~e sr~ sce~ y IW Moef~alpe N tie
f~~eii~ely ~e a~i ~aMe wlfbrt t~rther de~nand a~ way te~eclae tN~ Meel~a~ y' }ikW M'~eu~R. Lsnder dai
be e~Wiei N e~Yeef 1~ wti ~nceedi~ sr es~e~ses of foreclos~e. l~elr~i~. Nt rt ~ M. eew~ilt sttw.er'f ha.
a~i ail~ et i~e~hr7 e~iie~ee~ s~st~sets a~/ tkk reNrb.
lf. ~a's ~~t M Rd~tata NawithstandinE Lender's acakrstion of the wms seaeted br thn M~rt~sse,
8orroawer sha11 have the ri~ht to have any proceedings t+egun hy Lender to enforce this Mortpae discontinued at any time
sr;~iK 31~ ~aUE21:~~