HomeMy WebLinkAbout0790 ' I~eadet'e written aarremait a applicable law. Baxr4vrsr shall pay tits atrtouat o[ aM araortgaga inwraaN ptsasitrma it+ dre
manner provided under paragraph 2 htrreof. ~ d
Any amounts disbtuaed by Lender pwrsitant to this paragraph 7. wit ietet .h~toon. shall become sdditioad
indebtedness of IiorroMrcr secun+d by this Mortgage. Unless 8onower and Lender agree to other terror of payttrtatt. sudt
amounts shall be pay:bk upon ttatice froth bender to Borrower requesting payment theroof. and shall bear atterertt troaa dte
date of disburstxrtertt. sx the rate payable from time to time on ottatartdittg principal under the Note Imte:s pa~saatt d - .
interest at such tale would be contrary to applicable law. in which event such amputrts shad bear iMerat at the higbtnt role '
Detmissibk under applicable law. Ndhing contained in this paragraph 7 ahafl require Lender to irrcttr any eapea~e a tabs
any action hereunder.
R ies*ecrMs. Lender may make ar cause to bt: rrtadr rcasenabk entries upon and inspections of the Property. pr+ovidsd
That [.ender shall give Borrower notice prior to any such inspection specifying reasonable carpe therefor rdated to it.errder`s
interest in the Property.. _ '
- Cawtlew>tatba. The proceeds of any award a claim for damages, direct or oonsegtreetid. ie cortaectioa with any
condemnation err other taking of the Prooetty or part thereof, or for conveyance in lieu of oortdanrratiort. ire htx~ry atalgtted
and shall be paid to Lender.
in the e'veM df a total taking of the Property, the proceeds shall-be applied to the sums secured bq this Martgage.~
, withthe excess. if gay, paid to Borrmwer: In the event of a partial taking of the Property. artless Borrower and Lender
otherwise agree in writing, there shad be applied to the sums sa~trred by this Mortgage such pt+oportiat of Ire gooesds
- ss is egwl to that proportion which the: amount of the: sums stxurod by this Mortgage hnnredialely prior to tbt dWe d
tskirtg bears to the fair market v_ahte of the Property immediately prior to the data of takietg, with the balance of the pr~oc~eecb
paid to Borrower. - - -
If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the wor oll+as to rraab -
- an award or settle a claim for damaaa. Borrower fails to respond to Lender within 30 days after ~tbe dart web trotioe s -
mailed.. [sender is authorised to collect and apply the pmoceds. at i,crrder's option, either to res<orsdioe or ~ d the
Property or to the sums secured by this Martpge. -
,Unless render and Bormnwec otherwise agree in writing, any-such application of proceeds to prindpal shall riot oxford -
or postpone the due date of the reonthly installments referred to in paragraphs 1 and 2 hereof or dtange the arrrotrat d
web ~nstal4ttestts. - ~ -
1B. >fen~swer Not Rtaeasei. Exttalsion of the time for payment or rrtodiAcatioa of arnorti>mtion of the sums secured
- by.this Mortgage granted by Lender to :try successor in interest of Borrower shall not operate to relwe. in any manner.
the liability of the original Borrower and Bcxrowt:r's strocessors in interest. Lender shall not be required to oomnrencot
proceedings agaitrst such strocessor or refuse to extend time for payment or otherwise modify aerortintion sf the uuat
secured by this Morigage by reatort of any demand made by the original Borrower and Borrovrer's streoeasors in interest.
it. Forrearawc~e iy iewier Not-a Waiver, Any farbearanoe, by Lender in exercising any right or remedy ltergtetder, of
otherwise afforded by appliable raw. shah hat be a waiver of or precbde the exercise of any such right or remedy.
The procurement of insunnoe err the payment of taxes or Cher liens or charges by Lender shad trot be a waiver of i~eoda's
right to sccelente the maturity of the indebtedness secured by this Mortgage.
it Rerneifes i~wrrtrhllve._ Ad remedies provided in this Mortgage are distinct and cumulateve to any o@xr right or
remedy Itnder this Mortgage or aRorded by tact or equity. and tn.~ be exercised ooactursntly, irtdepertdently or wooswively. -
1~. ~ecessera are Assigns 1e~ad:.iaint are Sterol i.iablMt; CaplMas. The oovataoar and agteeararts haeia
contained shall bind. and the rights hereunder shall inurg to, the -respective strocessors and assigus of Feeder and Borrower. '
wbject_to the provisions of paragraph 17 Hereof. All covenants and apeerrtarts of Borto~rer shad be jaN and
The options' and headinp o.` the paragraphs of this Mortgage arc for oonven'tentx only and are not to be toed to
interpret or deilne the provisions hereof. -
11. Notice. Except for :ny notice required under appliabk law to be given in another martllef. (a) any notice to
Borrower pr<ovidod for in this Mortpee shall be given by mailing such notice by certified marl addressed to Borro~rra at
the Property Address or at such other address as Borrower ma9 designate by notice to Lender as pn'ivide6 herein: and
(b) any notice- to Lender shad he given by certified mail. rtum rtxapt requexted. to i.atdet's addrat, stated basin or to _
such other address as Lender may designate by halite to Borrower as -prrn-ided herein. Atry notice provided far is ibis .
Mortgage shall be deemed to have been given to Borrower or Lender when given le the manner dtniputted hereie.
. lS. Uwifor~i Mortgage: CoversiaR Lrw: Severs6iiity. This form of mortgage combines uaiforre covprants for aatioatl
use gad non-uniform covenants with limited variations by jurisdiction to constitute a uniform security iratrurttent eovairrg -
real property. 'I7tis Mortgage shall be governed -hy the law of the jurisdiction in which the Property is located. Ia the
event that any provision or clause of this Mortgage ar the Nor oontticts with applicable law. such coullid shad trot aged -
other provisions of this Mortgage or the Nate which can -be given effect without the conAictirrg provision. and to this
end the provisions of the Mortgage and the Nate are Declared to be severable. -
Id. >iarrower's Ce~y. Borrrnwer shall be furnished a conformed enPti aE the Note and of this Mortgage at the. time
of execution or after recordation herea-. '
17..Tsarter d ere Pre*aty: Aswtrs~tiaw. if all or any part of the Property or an itttttest therein is sold or transferred
by Borrower without Lender's prior wrincn consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creation of a purchase money security interest for ltowehald appliances. (c) a transfer Iry devise.
descent or by operation of law upon the death of a joint tenant a (d) the grant of any kaselroW imerest of three yeah or less
rat-containing as option to purchase. Lender may. at Lender's option. dedarc all the wens securted by-this Mortgage to be
immediately due and payable. Lender shall have waived such option to aooeterate if. prior to the sale or trarpfer. Lender
and the person to whom the Property is to be cdd or transferred reach agreenrtnt in writing that the credit of such person
a satisfactory to Lender and that the iMercat payable on the sums secured by this Mortgage shall be ere such me as Lender
shag rogne:t, II Lender has waived the pion to aocelente provided in this paragriph 17. and if Borrower's strcoessor in
interest has executed a writtsa assumption :greeeratt accepted in writing b)r Lender. Lender shall releae Bomovrer from all
obljpttiorts uudcr this Mortgage and the Noe. .
If i~rtder exacius such option to acceknte. Lender shall mail Borrower ratios o[ aooderation in-scoordartcti with
~ paatprtph 14 hereof. Such ratite sb~tll provide a period of rat ices than 3Q days from the dare the notice a mailed within-
which Borrower may pay the wens declared due. If Borrower fails to pay such stems prior to the sxplraiiort at such period.
Lender may. without flMher novice or demand on Borrawrcr, invoke any rerrtodres- ptxreitted by paragraph 18 barer.
Non-Urn»ttt?t Cove~t,~xrs. Borro~w~ and Lender further conenaut and agree as faiio~ws:
2>l: AeeeieradawC - Bsceft w I! 17 ressst, ~w /aeeorrsre breaer d w7 covawara art
agreemart d Beertrwer i• Iris Mertptge. faeiedirtL tiro cw?esatls M ND' vApw lee w7? sews ssew~si try at4 Marl~e, ;.aeier
,trier M aeeelersza.• ara rwa ..ace w >t«ea..er as growl r 11 releaft. h) ate rsrrat:la (s1 <rs sew.
Irs,.h.i w e.re sraer p) • isre, wet ieaa spar 3~ hys treat ere icy ate .Mies 1. nr.iw tie •errwer. b S.rlelr t>adt
rtrawtr wet k ewes awl (q arat lraatrre M rise raeb rtnsaer ere err trdore ere -rlaQa speeiiei sw ate too0ee ~ restit fe
seeaiaa0ew.t ere ass rseerei 6i tkis M«tssge. hsceMswra try f wiieW leec~aieg err .le .f ate r~erty. 'ne n.dae
snit /~rrAetr i.rn. aeesrrwss~ eft arc rlgMt N esiedMe after ereelesMien gad ais rfatt M newt f• ate fssaeiesere preoeei~.s
ate wswssYleeoe si • isfattlt err of titter dkfewee o! lterrewer a eceekrttaaw girl tereeiaaane. • Ire iraaelr is ttM swirl M
er Itdarc flits dMe s'eeMei i. are tseactr. ti.ewier ale lc.ier's eptiin weI? ieciars si t[ are ststsr sansei y atis Mer~pMpe 1r >m
iwasdiatefj? lee a.i pwysrle v.tlrorrl f!trrtlter demand govt rtsay t«aeiese arts iNrflgage y }lkisl perereig- Lender ieM
k ewalW M teeMd is aver perttetiisg r at/awx wf frrtciwe. iKlrieg. rat tMt iwMai ~ reass~ailt stWrrttey"s ftli.
awi-twtss eft iaw~srswtary svMe~oe. arsersess awl alit: repetAs.
1!. IMer~r+ra's R1~t te- R~daet~~ N~~snding Lender's socdastion of the stems setxaet! bit the Mortgais.
Borrower shall have the riglu to have any prooeedinEs begun by l~eredet to entorrx this Mortpge dirooatintred at any time
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