HomeMy WebLinkAbout0198 . Lender's written agroeanent or applicable law. Borrower shall pay the amount of aq mortgage iruunnoe praaiuats is tbt
manner provided under paragraph 2 hereof. .
Aay arrsarnts disbursed by ~ Lender pursuant to this parsgnph 7, with iater+cst thereon, shall become additanal
indebtedness o[ Bomovrcr secured by this Mongsge. Unless Borrower and Linder agree to other tetsa of payment, such
amounts shall be psyable upon ndtce from Lender to Borrower requesting paymen! ° artll shall bear ~tterest [roar tM
data of disbursement. at the -rte payable from torte to time on outetaadietg pnnnundec the Note unless paying[[ of
interest at such rate would be coMary to sppticahk law, in which event such amour.: shag bear intermt st rho raM
permissible under spplipbk law. Nothing rnntained in this paragnph 7 shall require lender to iacrrr gay eupeaas a take
any action hereurtdkr.
!R . Lender may make or [cease to be made rrstsorabk entries upon and inspectioas of the Property. provided
th:t Lender shall give Borrower ratite prior to env such irtspe~tion specifying reasoaable pose thtxefor related b tsrstietlt
interest in the Property, ~
C~ The pnuecds of any award or clam for damages, direct or consequential, in eoaned~i~oa folds arty -
cortdannation or other taking of the Property. or part thereof. or for conveyance in liw of eoademoat;~aa. are hereby asrgaed
and shall be paid to Lender. -
In the event of a tgtal taking of the Property, the proceeds snail be applied to the sums secured by this Mortgage.
with the excess. if any, paid to Borrower. In the event of a partial !:king of the Property. nuTess Borrower aril Ireodar
otherwise agr+ea in writing, there shall be applied to the sums secrrr+ed by this Mortgage such proportion of the ptceeds
_ as is equal to that proportion i~$ich the amount of the sums secured by this Mortgage irrarrediabe>)r.prior to the dale of
taking beat to the fair market value of the Property immediately prior to the des' ; of taking, wrh the 6alarroe of the ptooeeds
paid to Borrower.
If the Property is abandoned by Bor.~wer, w if. after notice by Lender to Borrower that the toedemaor ofFers to rgsloe
an award or settle a claim for damages, 8ormwer fails to respond to Lender within 30 days after ~tht: date soil[ notice is
mailed. Lender is authorized to cdkct and apply the proceeds, st Lender's option. either to rptoratiat or repair of fire
Property or to the wins secured by this Mortgage. ~ -
Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to prit>cipai shall not erckad
or pc+stpone the due date of the monthly installmrnts referred to in paragraphs 1 and 2 hereof a drange the arnartrtt o[
such irrstahmeats.
lt. lwre*er Not Rdeas+ed. Extension of the time for payment or modefkation of antortisatan of the swan secured
by this Mortgage snrnted by Lender to any suottssor 'in interest of Borrower shalt not operate tg release. is gay manner.
the liability of the original Borrower and Borrower
s successors in inttrcst. Lender shat! -not be r+equirod to commence
prooee~nas against such srtocessor or refuse to extend time for payment or otherwise- modify amortir~tion sf the sums
secured by this Mortgage by reason of any demand made by the original.Borrower and BorrosrePs strcoessors in interest.
11. Feriesraaee b i.ewdrr Not a Waiver Any forbearance by Lender in exercising any right or remedy haassder,~or ~ -
otherwite afforded by applicable law. shall not be a waiver of or prechsde the exercae of any such right or teasedy.
' The procurement of irrsutasoe or the payment of taxes or other !leers a charges by Larder shall not be a waiver of Lender's
right to ac~3eknte the maturity of the indebtedness secured b)? this Mortgage. ~ -
l2. Resreiies Cww Ali remedies provided iu this Mortgage are distinct and cumulative b any other ~ ar
remedy uadet this Mortgage ;.r afforded by law or equity, and may 6e exercised urtcurrently, independently or srtooesdveiy.
13~ Sskxewrs awl Awigw •ostw~ .Joist! awd Screed i~abit„y; Caplieas. 'lire oovenaata sad agreeanents herein
contained shalt bind. and the rights-hereunder shall inurg to. the.respectiv+e. srreoessors and assigns of Ltsrder and Borrower.
subject to the provesions of paragraph- 17 hereof. All. covsnants and agreematts of Borrostnt~ chap be joirB and several.
The captions' and headings of the paragraphs of this Mortgage arc for gortveniertoe only and ate not to Ile used to
Interpret ~r ddine the provrstorts hereof.
14. Ntotiee. Except for any notice required Under applicable law to be given in another manner. (a) any rrotia /o
Borrower ptoovided for in this Mortgage sleall be given by mailing such notice by certified mail addressed to Bonorrer st
[Fie Property Address or at such dher addresi as Dorrrtwer may designate by notice to !.ender as provided herein. aril
(b) any notice to Le_
rder shall he given by certified mail. return receipt ~ req~eested, to Lendels addrem. ststed ber+ein~t to
such other address as Lender may designate by notice to Borrower ss provided herein, Any notice provided far in this
Mortgage shall be dearred to have been given to Borrower a Lender whrn given in tht marpter dpignated herds.
~ 13. Usriforta McAgaRe: ~overwiwg Law: Serera6ility. The form of mortgage combing uniform oovarants far national
i use and recce-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument oarering
real property. This Mortgage shag be governed by -the law of the jurisdiction in which the Property is located. In the
I event that any provision or clause of this Mortgage.ar the Note eonllicts with applicable law, wilt eonAict shag rat aged
other provisions of this Mortgage or the Nate which pn be given e(foct without the eoelticting provision, and to this
end the provisions of the Mortgage and the Note are .kclared to be sevenbk.
_ If. Bornwes's Cop. Borrower shall be furnished a conformed copy of .the Note aril of this Mortpge at the tune
of e~cecution or after recordation hereof. -
17. ~'ttrsaster of ire )nru testy; Alpw~ipliow, if all or any part of the Property or ar interest therein is soN! or tnmferred
by Borrower without Lender's prior written consent. excluding (al the creation of a lien or enwmbnnee snborr4iaale to
this Mortgage. (b) the_creation of a purehace mazy security interest for ltowehold spplianoes, (c) a transltr fry device,
deseart or by opentan of law upon the death of a joint tenant or (d) the grant of any leasdrold interest of thin yeah or lex
not containing an option to purcltate, Lender may, at Lender's option. declare all the sums secured by this Mortgage to be _
immediately due and payable. Lender shay have waived oven option to accelerate if. prior to the sale or transfer. Lender
gad the person to whom the Property is to be sold or transferred reach agreement in writing trt:t the credit irf such- person
is satisfactory to Lender and that the inten~st payable on the sums secured by this Mortgage shall be at such me as Lender
shsp request. if Lander hsa waived the opion to aoakrate provided in this paragraph 17. gad if Bohr-~trer's socowor in
interest has executed a written assumption agroemart accepted in writing by Lender. Leader shill release Baro~w~er from cep
obljgatioos under this Mortgage aril the Nee.
if l.ertder exercises .fuch option to aocekrate. Lender shall mail Borrower notice of acceleration in secordartc~ v?ith
paragaapht 14 l+ereof. Suds notice shag provide a perie±ri of got less titan 30 days feces the date the notice is mailed within
which Borrower r_tay pay the wins declared due. it Borrower talk to pay strdr sums prior to the expiation of oven period.
[.ender remy. a?itttorN further notice or derrr:nd on Borrower. invoke any remedies permitted by p Ift hueof. _
~ Now-Untn~ona~t CovaHax'ts. Borrower and '.ender further tavsnam std agree as fotiows: ?
1B. Aood RswteiieR lEtaeeg# w N'nr~ is paragraph 17 [tercet, ~rl Detrasrls's !reach at tray ssvetsasrt ~ i
sgrastsest wt Btirreterss i• ails Mortgage, iersdirg [life ee+tstarls to gray whew iss [wry awwts stetted ti this i11af<~e. Ls~~ar
prier b assderwiisw sraY sea! weave a lsaserw~er s psovMed is paragryi td rer~e.t speeetylrigs (1) tBs ttssfaeln f=) the asilats
reflsttev~ r sans ratdt (3) a defq set !as tJra 3A days teas. [flee dale ere irsac+e r tstdsi Itr IMrrer+rer. fry wYcit
[Novel seer[[ ire ess~rdy awl (n Ira[ taiiw~s b cove srrrh 6reaelt aw K irtare ere dole apesiiai Y the wMks assy pewit r
aotdrratlea „t ere rwtsai sssws+ed ry the. Morlgsge. ascelowoe y istieYi perta~ss~gg awl w1c et else lseperg?, "Itis ..des
_ti teal ibtlier iafDirrs iprrfrwer set trs rift b rdwtfah after seederalisa awl tie right b arrA b tae ferscMssse ps~ecs~ ~
t!s worrruiratse d w dRtatelt er asy Msar defewre of tiosrwrer a aa~aeisraaes and torsehrwrt. r ere Msaer i wt enesd N ; _
e:Irefirs flee dale speelried i! irs..ace. Lssider at Lender': eNi:w awy dscire cell.[ ere ti.~. seerrrrd rf fait tK.r~~r a re
iwsscdirtletr dove gad ~aMe s.Mtrtit twrtrcr dewrawe aw+ rwcy hreelsse this M.rlpgs ry f wikiai prrersis~. t,etdRr ,lO.B ,
ire eatWsi N esiset b stilt lroeeedir; wtw sspeaaea of hreclowrc. . rst set firatilsd ~ seawwaile srurrrterlt fees„
asi gait a[ ~ a*tieree. aDsAselt awd fiat nptwr. .
1!. )Msrs~ira's Bd~l N itelretale. Notwithstandintt Lecda's aooduation of flee s~eras stctreed by the Mortgage.
Borrower snap have the right to have say proceedings ttegun by Ltrrder to enforce this Mortgage disooaGmted u av7 time -
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