HomeMy WebLinkAbout1097 - -R -
. ~,i,t i''1~...
leaders wtiupr agreerraaat oc applicable law. Borrower shall pay the amount of ap mortgage insteraaoe ptemitams is the
maauaer provided under paragraph 2 hereof:
Any amounts disburses! by Larskr putwant to this paragraph 7. with ia>lerest thereon. shag beconas additional
indebtedness of 8orrowrr securrid by this Mwtgage. Unless Borrowefi and Lt~ader agree to other terms s>f Pa;~ttaent. sudt
amounts shall be payable upon notice tram i.ender to Borrower requeuing payment thereof, and shalt bear interest from the
date of drsbur~attent at the rate payable from time to tiros on outstsrasBrtg principal under the Noce unless. ps~ateat of
interest at such rate would be contrary to applicable law, in which event sus~a amswnts shall bear iataest at tine highest rsf)s
permiaibk unskr applicable law. Nothing contained in Ibis paragraph 7 shall requite Lender to incur nay esptmss or twos
.any action hereunder.
S. lrtpeclis'. Lender may make or carne to be made rrasoeabk entries upon and inspectiars srf the Property. provided ! .
that Leradrr shall give Borrower ndice prior to any such inspection specifying reasonable cause thtsrfor related b Laadet'a
interest in the Property, 4 '
Cewdearastiaw, 'the proceeds of any award ar claim for damages, direN or coacequeatial. in ooraraediora with any .
condemnation sx other taking of the Property, ar part tlterrot. a for canveyaue in situ s>f eoraderrtnatan, are herebT a:~goed
and shall be paid to Lender.
in the event.of a tMal taking of the Rroperty, the proceeds shall be applied to the sums secured by this MatgtRe,
with rite excess, if any, paid to Borrower. In the event of a partial taking of the Property. unless Borrower and Leader -
otherwise agree in writing, there shall is applied to the cams secured by this Mortgage such proportion of the pfoceafa
as is equal to that proportion which the amount of the sums secsrred by this Mortgage imrraediately prior b the dale o[
taking bears to the fair market value of the Property immediately prior to the slate s>f taking, with the balatta of tht: pfooeetls -
- paid to Borrower.
_ tf the Property is abandoned by Bs?t.-ower. or if- after notice by Lerad'er to Borrower that the coradats:ror diets b males '
an award or settle a claim for- damages, Bs+rrower faih- to respond to Lenskr within 3Q days :fret the state such notice is
mailed, Lender is authorized to collect and apply the proceeds, at Lender's option, either to testonrtion or repair of the
Property ar to the sums secured by this Mortgage. - - -
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shag not aataad
or postpone the due date of the monthly inuallments referred to in panrgraphs 1 and 2 hereof or s~aar~e tine aaaouM of
such installments.
Ili, lt~effrwer Not Releaser. Extension of the time for paymnrt or modification of arrtortiration of the strratF E~ct»ed
by this Mortgage granted by Lender to any ctacoessor. in interest of Borrower shall not apente to trlease, in wry manner,
the liability of the original Borrower and 8s~rrower
s sus:cessors in interest. lender shag not be. required b commerroe
- proceedings against such successor arrefuse Mextend-time for -payment or otherwise modify amortization of the usms
secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's sucsxssors in interat_
11. Forreara~ee b' Lewier Not a_ Waiver. Any forhearanee by Lender in exercising any right or remedy laerariader, or
otherwise afforded by applis~bk law, shall oat be a waiver of ar prrehade the exercise of ariy such right or tenredy.
The proctrrcment of insursrasx or the payment of taxes ar other liens ar charges 6y Lender shop not be a waiver of. Leader's -
right to accelerate the maturity of the indebtedness secured by this N.ortgage.
12. RegeaYts CaatrMit+s. All rdnedies provided in this Mortgage arc distinct and cumulat+ve to any s>ther right or
remedy under this Mortgage or afforded by law or equi~y, and may be exercised concurrently: ir>dcperrdeYttly or sraoce::ivdy.
13. 3aecearms awl Asdgws lioarar; .ioirat near Seva:ral iis6ilNi, Ca*Iiws. -The oovenaats and agr~eeatents herein
contained shall bind, and the rights hereunder shall inur+g to. the.rcspective avocessors and assigns s>f Larder std Borfasret;.
wbject to the provisions of parsgnph 17. hereot_ All covenants and agreerraents s>f Borrower shall be joirg and several.
The captions and headinbs of the paragraphs of this Msxtsage arc far convenience only and ate not to ifs used b-
interpret ar sletine the provisions hereof.
14. Notice. Except for any notice regsrired under applicable law b~ be given in another manner, .(a) airy notice b
Borrower provided for in tha Msxtgage sha11 be given by mailing such notice by certified mark addressed to Borrower at
the Property, Address or at such other address as Borrower may designate by notice to mender as provided herein, and .
(b) any notice to Lender shall fie given by certified mail. return receipt requested. to Lender's adsh~gs hated herein or to
such other address as Lender may designate by notice to Borrower as provided herein. Aay notice provided for in this
Mortgsge daaq be deemed to have been given b Borrower ar Lender when Ewen in the moaner dtxignated her+ei:e.
iS. Udto®w Mortgage; Gova:rwiwR Law: Srverabifity, "ibis form of mortgage combines uniform covenants for national
use noel ran-uniform covenants with limited variatisxrs by jurisdiction to constitute a uniform security irptrtnraert eoverirrg
real property. -This Mortgage shall be governed by the law of the jurisdiction in which the Property a located: In the
event that any provision a: clause of this Mortgage or the Note conflicts with applicable law. such sanfllisx shall not affect '
other provisions of this Mortgage or the Nate which can be given eBect without the conflicting provision. and to this
end the provisrotas of the Mortgage and the Note arc skclarrd to be seYrrabk.
ti. •orrower's Cope Borrower shall be furnished a conformed oopY of the Note acct of this Mortgsge at the time ~
of execution ar after recordation hereof. - ,
17..'Ikaaster of Ire i~topdty; Aswai~tiow. if all or any part of the Property or an interest tharin is solo or transferred
by Borrower without ierider's prior written consent. txcluding (sl the crrstion of a lien-~ encumbrance subordinate to
this Mortgage. (b) the oration of-a purchaa money security intttrst far household appliances, (c) a transfer by skvise.
descent or by operation of law. upon the death of a joint tenant ar (d) the grant of any laisehoid interest of three yews a less
not containing an option to purchase, Lender may, at Lender's option. declare alt the scans aerated b3 this Msxtgage to be
immediattfy due and payable. Lender shall have waived ssich option to:aecekrate if. prior to the sale or transfer, Lender
and rile person to whom the Property is to be cold a transferred mach agreement in writing that the credit of such person.
is satisfactory to Lender anal that the inten~st payable on the sums secured by this Mortgage shall 6e at such rate ac Leader
shall request. if Lender has waived the option to accelerate provided in tha paragraph i7, and if Borrower's wceessor in
interest has e:ecutcd a written assumption agroemart soctptedm writing by Leader. Lender shall release Botrawer from all
s>b>j~tions under this Mortgage and the Not
if Laden exorcises such option to accelerate, Lender shall mail. Borrower notice s>f acceleration in aceordaricti with
psragrapli 14 hereof. Such notice shat[ provide a period c+E not less than 3(1 stays from the dais the ratite is mailed withiA
which Brxruwer may pay the sums declared due. if Borrower fails to pay such sums psiar to the expiratiat M wch period. -
I.erider nosy. without firrther notice or danaad on~Borrower. invoke any remodies permitted b7r paragraph 18 hereof.
Now-UNrFOaM Covstranrs. Sorrower and Leadu further oovensm and agree as failosrrs: -
iR Aecderatior Resse~aa. F.uspt m proriier is paagfa'h i? rosiest, grew lassowes"r iseae! at trsp os+ssiawt atr
aprde>wwt d >ws:awaw is Ibis Maeilsge. iiclertag ~e eanrewarik b pity wins roe wT atmas seetirad b Itri/ llte~irge. tewretr
pefiar M acedesalisw ari well walica b >lon.wrr r p+r.iier [ss psrsgrttpr 11 iciest apeeifyiags p) Its ifeaelw (2) cite axNaw
ragatrai M cart wda i~ek (3i? a isle, cant le: ttlaw 3! tars traw the role ere •stlee Y ¦ssier M 1Meawer, b wrki sleet
rtetadi toast re sr.~ ami (~1 Wt faiMnc b esre arela rReaer ow err raises Ilse late a M tie worse can rrstit Ira -
seederatlsw e+t tltie tries secarei b firs Nrar~age. tssscte..t+r h ir+leW ln~i oar stals .1 Ire Pfopeely. 'Re ..Ilea
aW fsrslher Irstr. Hsarrrwer err tine rtµt b r:iaalrik oiler acakralisw awn ere eylat 1. aaeeet i• Noe tae~rrlaatrfs pf+aea+er1sR
tie wow~adMewee sal a ietaait e+r awl! oiler refaare of lierrawet a ac+celersllaw ors/ faeilOwae. r tie >terarr is cast ctafttr aft
as lefirs Ire isle e+pedier t• !le works. Lewrer N l.erarer's aptiaw am7' insist! i of rile amass aseweai ry tYt MaetEsBt t~ k
t.nwai6slelir ire awn pyaYe s•illoel fawtler dewand awl r.:y fafseiaae tiro Maef;,age b f~W wile. tewder ,loll
_ k eater a aaifael V wet pf~steerisR e+f a:tcpeaaes of fsseclssaet. iwelsiitR. trot fast ¦iailar isr t~anaaslie srtwnrrls 1`aes.
awl seals stt daew'ttseMafy? evirewts. aralrat4s e~rai title seMrlw
i!. lerfrawea'~ R1glt a >Relaffata Natwithstandinit Lender's aocderstion of the sums tsscwed by tha ManpBe.
Botrosrrer shall have the right to have any proceedings hegsin by Lader !o enfsxne this Matgsge descoatinucd u any time