HomeMy WebLinkAbout1572 1 ender'. wrrttrn :?gueutenl nr ap{+hcahlr I:I,a Itl+rru••ser shall pad tha• :unuunt .+f all m++rt?:agr insurance pumiums ut the
manner I•:•~s•ulr.l un?Irr I•ara>;raph hen•uf.
:ins :unaautts 1lt.hursrJ h+ 1en,ler I+ur.ll,uu to !h?s para~laldl ,ai!h uttsrra thereon. shall hrcrntr addiuunal
,natehrealnr.. ut Itrrn,aaer secuual h+ th,s ~~tutt •~gr l.' Jrs. Rurr,•,ar, ;tnJ I :•n.let :?_t.s to other terms 1+f paymcru. etch
;unuunts shall F,e na+ahlr up,+n uuti.~ fruttl ~ ttr~er tafsR~+rrutarr rryur.tine pa~nlc•It thereat.:utat ;hall ha•.?r intrust fmm the
Jatr u( alishursrmrnt at the r.?te p.taahlr fr,+m time to ume'1at uutstanaline principal under the \utC unless payment of •
intrra•;t :N such raft aauul,l ter rontran to anehcahlc laaa, in aahich ra'cnt scch am?atnts shall hC;u interest at the highest rate
prnnissihlr unaler :grpllc:?hlr 1:?aa !~rthing aantainCal m this p:?ra~raph 7 shall rryuirC 1 Ceder u. rotor any cvpencc or taicc
.Iny action hereunclcr.
8. Inspection. Erecter mas• tnahC c.r r;ulae Ia• he made uaconahlC Cntrir. upon :md ittspe:twns of the Property. pmviateal
that 1 ender shall ttiaC BurrosaCr nutire prier to any such imprction sfxrlf)ing nauutahla: rau.C theufor ulatCd to Lcnder•s
uurrrst in the Properly.
9. Condemnation. Thr prucr:d. of any :oaard er claim fur alamagCS, direct er cunseyuential. in ronnectien ++ith am•
~ondemnatiun rr other taking of the Pn,perty, ur part thcuof, ur for c+ats•cyance in IiCtt 1+f rundemnatiun. art hereby' assigned
and shall LC paid to I ender.
In the ra•ent of a t/~tal taking of the Property, the pn•cCCalc shall he appliral M the sums sCCUUd by this '\lortgaee.
,+ith the C~crss. if any, p.lid to Barra+aaer. In the event of a partial taking of the Pmperte. unless Rerra,uCr and lender
utheraaisr ague in writinL. there .hall he applied to the sums securc.l h.' this ~tun~:+ge such Irnrpa+rtion a+f the proceeds
.IS is Cyual M that propurtirn which the amount of the sums secured M This \la+rt~a~r immraliateh• prior ar the date of
takinc IrCars to the fair market v:due of the Property imntCafiateh~ prior to the alate of taking. with the balance of the procceafs
paid t., Borrower.
If the Property is ahandene,l M R,rrruwrr. er if. after notice by 1 ender tr Burr,~wrr that the condemner offers to make
.In award I+r .eft}c a claim !or d:uuaee,. BrrrowCr fails t„ rr.tu+tlcl n+ 1 realer avithin Zt1 days :Iftrr the d;ite such nc,ticc is
m;riled. 1-ender is authorized to collect and apph• the prl,cerdc. at Lender's option. Tither tr. restoration er repair of the
Property or ta. the .ants .geared by this tilertgace-
l'nlrss 1 realer and Borrower uthrrwiar agree in aaritine. any su:h ap!.hc.ttiun of pr:.a•Ceds to prittclpa) .hall not c~tcnd
.+r postpone the afar .late of the munthh installntcnts rCfrrred to in n:uaer,yhs 1 :+nd hcuof or chan~•e the amount of ,
such installments. '
10. Born,wer \ol Rcleaard. 1?vensien of the time 'ur payment or moalificatiun 1+f amortization 1+f the sums secured
[hi. \lurteagC granted ht' LCnaier am: .uccessaa iu interest of R,~rr+~~+cr shat! not operate to release. in any manr,rr.
16.• 6:IhIGra „i th.• nrininai Rnrn,aa{•r :,nd BINr/raYrf•~ succCSsnrs in intrust. I.rnJcr shall nut Fk: rcyuircJ to remmence
t~-,Kee,ling, against wch successor ur refuse to rstrnal tints for pavntem ur othenai.C ntlxlih• amortizatiam of the sums
.e:uud by this '\lortgagC ht' rc.?;1+n of :Im drm.,nal made M Thr uri+s.nal Borruaarr and B,,rroaver's succes.:rr. in interest.
l 1. Forbearance b~• Lender \ut a R'aiver. -\m. furhraraucs by 1 rndcr in ese.-ci.in~ :utv right ur remeds• hereunder. or
.~thCrwisC atft,rdcai by applicable l:,w. sh.,!1 nut hr a aaai+er rf ,+r prCaude the rscrcisr of any such right .u remedt•.
-Ths pnrcuuntrnl of insurance .ar the p;?ymrnt of fasts +a 1+thrr I,rns rr ch:?r_•es by l ender .hall not Ire a ++ai+•rr <+f I.enafer's
right to ;tccclrratC the mantritc of the inthhtcdnr...r_urrr! ht thi. ~lortga>;e.
12. Remrdiec ('umralative. :'111 umealies pro. idled in thi. \lurtcage :Ire afistincl anal cumulative to :uts other right er
~snxat\' unaler this ~turt~;+zr c,r atf.+~draf ht~ Iaaa ur cyuit~. anal mac F,r eserciseal tuna-uruntly~. indepcndentlc or su.-cCssis•Cls•.
13. Snrcccu,rs and :~sikns Bound: Joint and Searral Liabilih: ('aptionc. ~hhr ca++cn:mtc and agreements herein
;unt:unr.! .h.J} hint. anal tlts right. hersundrr shall ~uuu t~+. ;he rrspCa ice snca.•++rs :ut.l :?ssigns of 1 enairr :Ind Borrower.
,,Ihira to th; pru•:isium ul para_•r;?ph hcuet. A!I roirn.utts an,l aa!uentrnt. I+f B.~n-usccr shall Ire iuint and several.
1-hr captil+n. .,n.t hra.in,~. of the para_raph. of chi. \turt,~ar art fr~r cutr-CnicncC unh• anal art not to hC used to
ntrr!,rrt I,r dcfire the pn.a,siun. hereof
1•l. \ntice. Fs:rrr fur :urv nl,ti.r rr.tnireaf :roller :nq~}ir;,h!r Iaaa t++ he t•ic~n ,n anrther manner. l:u .?nc notice to
li:,rn,wer pn+vided fu+ .'.r thi. \1r=tg;I~C shall hC gnrrt by nlailinL su;h notice ha ssrtifiral mail aaldresed to Rurn+aaer at
the Pn+t•Crn •~.Idrr.. ur a: s,:rh ,abet aaldres. :IS R:•rn+.ar, n,a, afr.,~•r.:rr ha m~ti;C t.+ I rndcr a; pruvialcd hcrcin. and
;Im n.Ni;e to I rmler .h:al i•; ~•IVrn by certiftr+l m.,ii. n•t:+m r«r,t~t rr~u,r.tral. t,~ 1 Crafer. adJuss srlted herein or to
j such ,abet aalafrC,s as I realer mat aissignate h, nutisr +u R. r;,••.arr a, pn+a~Jr11 herrnl. ~•1nv notice prrvidr.l for in this _
\tuttcalC shah ha' alren:eal n~ hays hero gtsrn to Burn+,+c'r ~v I sraier ~ahrn _ISer+ it the manner drsi~rtated heuin.
i
~ 1;. (-nifurm ~lortka~•r; Governin>; Lac: Sraerahilih. l! ~ `~•rm ut mnrt~•a_•r •_urnhinrs :Iniferm cua•enants fur national
E ,ss~anal .,.+n-u•:t?•+rm ~uscr.;,n:. •.aith limits.! v,?nat,l•tr, h~ I.~r,s.i,;tu+n t„ cun.ht;,te a uniform sC,:;rniv instnunent rnvcnng
rsat prl+prrty Ihi. ~furtg.tee .half hr gutrntral t-v the Lctia rt the iuri.alictnal ,n aahich the I'mpCrtc is located. In the
~ :,ent that any nr.n,si,~n ur .later of thi. ~turtg.,_s .+r the ~=+'r :unt:i,t. ,aith apt~li.ahle Llw. <uch conflict .hall not affect
ahu pr,•<<.tt,n..+f :hts ~turt_ase 1+r the tints ;.?,i~h .~.ul hs ••nrn e!Tr.t •.ai+hut,t the cuntli.•ting prevision. :rod to this
~"-~et iit!' t-4,•, hlt,ris ,+t t'le ~Il+f!gag,• .lt:+; the ~,de :Ire .Iii Ltrrll t`r ~eCera}+tr.
16. Burn,wcr'c ('opt. Burn„art .h;t?I i-t funti,!~r,f a ..mtunnral :upa u: the \ute an.l of thi. ~fort•~acC at the time
,,r C',C:utit,n ur ettrr rss,+rdation hereof.
17. Transfer of the I'roperta: lscuntption. It ,rl! .+r :un ,part of the PrupCnv or :/n ,nteust thrum i. s.+Id a+r transferred
M Korn+,asr aauhrnt LCnakr's pro+r u:ius~, :•.+nsent. ss.:~~.ling I.,! the creati•+n of a tint ,+r enrumhrancC suha,nllnate to
'hi. ~turtgagt. th) ihr creator: of .t pur.h:rss nnale~ .runt, rnR•rrst fur h,,,nrholal appliances. (c. a transfer by des'ise.
.ie.cent .~r by operation .a l:I~a ;Ipon the .irath ,•t .t io.nt trn:uri rr 1.1, the ,•rant nT .Ina ICasehuld intrust of there +-Care ur less
•u+t rrntaining an rpti~+n t;• purrh:+sr. 1 rn.trr m.I•,..;r 1 snalrr'~ ,q~t,.ut..lrclare all the sums sccuud by this ~larteagc to F,c
:•unr,l:atrh due :Inal pacaMr I realer .hat! h,I•.r ~•-aI•.saf ~u,!I option to a.celer-.Itr it. prior to the sale or transfer. 1 goatee
tai the prrcon :u :a hum fife I'n+petis I. n+ hr .,•i.° ,+r t• r,.!rrrs.! rra,h a rermrrtr ,n wnnng the+t the ire.lit of such person
satisfartun to l.cnJet :utd that Iha• intrn•.t pas:lhfr un the ~•.,ms ss;uud by thi. ~turta_a~c shalt he at snch rate as Lender
hall request. If 1 enter ha. avaivrl} the uptn•n :I;:elrratr pr,+siclCai in this paragraph 17. and if Borrower's successor in
t ~ntrrest h:I. rsecuteaf a written as.umption acuemrnt accepted in :criting M• I Colter. I ender shall release Rerroaa•er from all
.+hlie:uions unltrr thi, \furtga~•r and the tints.
If 1 ender eserrisr. such 1+ptr~n II+ accrler.lrs. I toffee .hall :n;ul Rorrenarr notice of acceleration in accordance with
ralagraph I4 hereof. Snch n.+ticr ~h.+I} p:a,v,dr perio.l :,f not Ire. than ifl alas from the daft the notice is mailed within
..hish R,+rrua+rr may p:la the snots afrclareal all'e If B,•rn+•.arr tail. tr pat such ~nm. prior to the expiration ++f such period.
goatee mils. asithuut further n:+hrr or .Ismanel a+l Iturruwrr. nnrke :+rn remedies permiura ht paragraph IK hereof.
s~ Anti-(~tilr'OR\1 ('r,t'F~?`7i. Kermscer anc! 1 realer further covenant and agree as follows:
18. Acceleration: Remedies. Except at provided in paragraph 17 hereof, upon Borrowers breach of any covenant or
a
agreement of Borrower in this'liortgage, including the co+enantc to pap when due arse sums secured by this ?1lorlgage. fender
x prior to acceleration shall mail notice to Borrower ac pro.ided in paragraph 14 hereof specifying: (I) the breach: (2) the action
required to cure each breach: 131 a date. not lest than 30 days from the date the notice is mailed to Borrower, by which such
breach must be cured: and 14l that failure to cure such breach on or before the date specified in .the notice may result in
acceleration of the sums secured b~ this 3lortgage, foreclosure by judicial proceeding and sale of the Property. The notice
shall further inform Borrower of the right to rcimtate after acceleration and the right to assert in the foreclosure proceeding
the non-existenrr of a default or any other defense of Aorrower to acceleration and foreclosure. If the breach is not cured on
or before the date specified in the notice, Lender at [.ender'c option ma. declare all of the sums secured by this rlortgage to be
~ immediately due and pa~ahle without further demand and may foreclose this 3lortgage by judicial proceeding. bender shall
be entitled to collect in such proceeding all expenses of foreclosure, including, but not limited to, reasonable attorney's fees.
and costs of documentan• evidence. of»tracts and title reports.
19. Borrower's Right to Reinstate. \etwithstandinf: I.rnaicr's accclcrahon of the sums secured by this !Mortgage. .
Borrower shall have the right to have any proceedings hC>;un by Lender ter enforce thu Mortgage discontinued at any time
r
a~~x 319 P~cf 1569