HomeMy WebLinkAbout0033 - - _ ._w----- -
• Leader's written agrcernettt or applicable Mw. Borrower sbaU pay the amarat of aq nartgags bttra6oe praaiuast is the
manner provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to this ~t~npl~'~.~ with intesxst thereon.:haq becane additional
indebtodrras of Borrower se:cursd by this Morlgage. Unb Borrower and Gender sgrse to other terms of paystteat, suds
amounts shag be payable upon notice from Lender to Borrower e+equexting psyrQeat theres+f. and ahsll beer interest f`rons the
date of ebrnanent. at the rate psyabk front time to. time on oubtanding principal under the Note unless paysaet eft
interest at such rate would be contrary to applicable law, in which esrent such amounts shall bear iMerott at the higbs~at role
pernniaibk under applicable law. Ne>thing contained in tMs paragraph 7 shall require Lender to insxrr gay expentas a tab
- any sction hereunder.--
il. i¦s~aetiar. Lender may make or cause to be made reasonable entries upon and inspections e>f the Property. provided
that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related b Lender's
interest in the Property.
Certaietrwsaoer. The proceeds of arry award a claim for-damages, direct or cotrsegrtential, in oonaeotioa with soy
condemnation or other taking of the Propsaty, or part the~mt, a for conveyance in lieu of ooodeanrration. are het~eby sterigrted
and shall be paid to Lender.
In the event of a total taking of the Property. the proceeds shall be applied to the sums accused by this Mortgage.
with'the excess. if any, paid to Borrower. In the event of s partial taking of the Property, unksa Bormwtr std Lender
otherwise agree in writing. them: shall be applied to the sums .secured by tfiis Mortgage such proportion -of site q~ooeeds
as is equal to that proportion which the etnount of the sutrrs secured, by this Mortgage _iautrediatdy prior to the date e><
-saki bean to the fair market value of the -
rtg Propc~ty immediately prior_to the date of taking,-with file balance of the Ptvoesedt
-
-t-"ltortnw~er:
i~thb Pbpe:rty is abandoned by:Bor\~ower. or if. after notice by Lender to Borrower that the ooadasnor dkrs b roab
an award o'r settle a claim for damages. Borrower fails to respond to Lander within 30 days aftex'the date such ratios: is
mailed: Lender is suthorined to cdlect and apply the proceeds. at Lenders option. either to restoration e>r repair er[ tits
Prpptrty or to the sums secured by the MatRage.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shop not erxteerd
or postpone the due date of the monthly irrstalltnents referred to in paragraphs i and 2 hereof of change the amsotmt o[
steFh installntpats. -
16. )tarrower Net Rebaea. Extension of the tirrre for payment or modifkation of arrtorlization of the sums sectued
•ify this~~lortgsge granted by Lender to any successor in interest of Borrower shall not operate to rsksse. in gay manner.
the liability of the: original Borrower and Borrowe:r's successors in interest. Lender shall not be tsquirsd to commence
prooexdmgs against such successor or refuse to extend time for payment or otherwise nadify amortization elf the urnts
sexur+ed by this Mortgage by reason of any demand made by the original Borrower and Borrower's aucoasors in .interest.
- --~1.-~'e~trearauee Y~T.esietr Veit s Waie%-Aoy fc?rt+e:arance by Lender in exercising any-right ~ remedy heraioder, or
otherwise afforded by applicable law. shall not be a waiver of or preclude the exercae of any suds right or nmady.
The procurstment of irtsurastex or the payment of taxes or other liens or charges by Lender shall not be a waiver of Leaders
.sight to ascrlsrate the tnatt:rity ~ the itsdv~cdness secured by this Mortgage. .
12. Rew~edks awwiave. All remedies provided- in this Mortgage arc distinct and cumulative b any other right or
rsrrtedy under this Mortgage or afforded by law or equity, and may be exercised eane;urrently. itrdeperrdattfy a sueassively
13. 8reeeasen awl Aaslgrs losrwel+ ,yeiat awl fieraral i.lsrit~ CaplMaa. The: covenaab std agreextteats hexsin
oontairrod shall bind. and the rights hercurrdet:hall inut= to. the.respective wooessors and sssigtw esf Lextder gad Borrower-
subject to the provisions of paragraph 17 hereof. All covenants end agreemasts of Borrower shall be jdrd and several.
The captions' and headings of the paragraphs of this Mortgage arc for eonvenienoe only std ors not to lie wed to
interpret or define the provisions hereof.
14. Nettles. Exexpt for any notice regceired under applicable law to be given in snottier manner. (a) any notice to
Borrower provided for in this Mortgage shall be given by mailing such notice by cerlitled nw'i addresred to Borrower at
the Property Address or at such other address as Borrower. may designate by trotioe to i,etrder as provided herein. and
(b) any notice to Lrnde:r :hall he given by exrlitkd mail. return reexipt requested. to Lesnders address stated itersin or to
such other sddress as Lender may designate by notice tea Borrower a: provided herein. Airy ratios provided for in this
Mortgage shall be deemed to have been given to Borrower e>r Lender when given in the manner designated hersia.
1S. Uwiferr>. Moegprge; Goveraiag Law: Severa6il&y. This form of mortgage combines uniform eovenanb for national
use: sod non-uniform covenants with limited variations by jurisdiNion to constitute a uniform security inrtnenrenrt covering
real properly. This Mortgage shall be governed by the law of the jurisdiNion in which the Properly a located. In the
event that any provision or clause of this Mortgage or the Note cordlicts with applicable law. such conflict sha8 not aflext
other provisions of this Mortgage or the Note which can be given effect without the oorrflisxirrg provision. and to this
end the provisions. of the Morlgage and the Note arc dexlareod to be severable.
~ ii. lsreewer's Cep. Borrower shall be furnished a conformed copy of the Note gad o[ ttiis lriortgage at the time
N ~ \.r, \NNY~,Mt ~.V.~V.•
17..'1~s¦der of ere Pr^s*ery: AaawtpMw. if all or any part of the Property or as intee+at ther+eia is sold or transferred
by Borrower without Lender's prior-written consent. excluding (a) the creation of a lien a encumbrance sstbordinar to
this Mortgage. (b) the cceatan of a purchase money security interest for housdrold appliances. (c) a trarrster by devise.
descent or by oderation of law upon the death of a joint tenant ex (d) the grant of any Iweho)d interest of three Years oa lea
not e:ontaining an option to-purrhase. Lendecmay, at Lender's option. dexlarc all the: sums secured by this Mortgage to be
immediately due std payable. Lender shall have waived sskh option to aooekrata if. prior. to the sale ear transfer. mender
and the person to whom the Property i~ tea be sold or Cransferrsd teach agreenxnt in writing that the credit of such person
is satisfactory to Lender and that the interest payable on the sums stxured by this Mortgage shall be at such rate ss Lender
shall rsquext. if Leatder less waived the option to accelerate in this paragraph 17, and if 8oreo~wer's setceessor_ in
interest has executed a written stessunption a~reemrnt socepted in writing by Lender. Lender shall release Borrower from all
obljgatioas under this Mortgage and the Note.
if iatder exercises such option to aexekrate, Lender shall mail Borrower notice of acceleration in accordarrca: s+ish
para~aph 14 hereof. Stirclt notice :ball provide: a period of rat less than 30 days fran ttie date the notice is mailed within
which Borrower may pay the sums dexlared due. if Borrower fails to pay such soot: prior to the expiration esF such period.
Lertdex gay. without furtlxr notice err demand on Borrower, invoice any rentedias permitted by paragraph 18 hersaf.
Nott•Uxtrontrt CavEt+artis. Borower and Lender further covennnt and agree ss ie>alows:
18. Acoekn~tla~ Rareilaa. Sucs~t eta Mw'lieel i•'antgrapr 17 reaeat, rrpaa >satreards ~tswer err any eiveaaM err
agnerwe~t err >Tenwt~er Ira trig Mastgage. irelriag Irs awesrasls is f)a7' wrss dare ap? artra ssetareta iry Ris 1ltarlgsge. iastier
prMtr N soabaliaet ari wsY Naca a Beewva as praweel ire pragrsr4 11 torsos spaefryl.o (1) ate ifeswela !tl tM wcaar
ntlrirad fag e¦rs stet 1ww'ek p). ele~s, wet leas tit.. 38 clays raw. ate elate era ..acs r .nw fa! ~aeaewa. rr ..frieM otter
rnaedt ¦srst b erreeli ari at.t railNlt M errs art:lt ralalr M K rerwe Ire dots apae~ai V aft Nei!! eaY rssaN
aeoalenllN eft IMt wwa saesasel rf /rla 1Nerlgsgt, hraclaear'e !p }~elal prrcatiireg ari fsla eft Ire Prrltrir. '11tt nstloe
sitar trrtrer iatanrb>iotrewar e[ era right M reiNMe aria at;ealkrador awl pro right N creel its Ire fieseMarre ptaessittg
era NsKibleasee err s elierasit err any ettrer dereitt e/ •errewa to saeeeleralM. awl rereteloartw r pre br:aer l...t erns..
or istaee pre dale spaeMad b pre Noce. Lesder M t.errie*ss pairs r4 elaeSare r eft trs sttrrra saerrai b prix Ma~aAt is>k
itauwesaiately dre ari pgaik wNrart trrtra dtwswd awl rtrry r~reeiaae tide 1Nar~,age b jieW IN'soaaiR. Lewder srsi
re awadeel N earaet eta arei peeatetailag aB tspeaaa eft fie~eclearee, ireir~ag, bf fiat lrrrllai ter rsewwaMt sltwney'ri saes.
a¦i esels at daattresMat~ sviiatet, arArsets gad tlde reNrls. .
lf, ~p~ ~ tea Notwithstandinit Lenders accaieratioA e>f the snta: sectrrad by the Martp~ge.
Borrower shall have: the right to have any proceedings beEern by Lender to entorex this Mortgage disooatinued at guy time
BO~f PAGE J~
r