HomeMy WebLinkAbout1109 .s.
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t-Boiler's written agrcament or applicable law. Borrower t+haU pt<y this aniouut of aU a• Ntaage insurance ptaaniuaa is the
manner provided under paragraph 2 hereof.
Any amounts disMttsed by f.cttder pursuant to this paragraph 7, wj~h; ietletie~t , thereon, shall become additional
iredrbtedntxs of Borrower secured by this Mortgage. Unless Btxrower and lender agree to other terms of paymeea, such
smouats shall t.~; payable upon notice from Lender to Borrower requesting payrteent thereof, :rail shall bear interest froze the
date of disbursant:nt at the: rate p#yalk from Ctme to time on out:tar:diry~ principal wtdar the Note urd~i pa~n~att of
interest at rock rate would be contrary to applicable law, in which Brent such amounts shall hart interest at this highest rate
•permisst'bk wider appli~bk law. Nothing contained in this paragraph 7 shall require Lender to iatur any a:plane or take
nay action hercuader. -
Iwgeeelias, Lender may make or ca:~se to be made rcasonabk entries upon and itesptsctions of the Property. ptrovided -
that Lender sfiall give Borrower notice prior to any stick inspection. specifying rcasotabk cat~c therefor rclate~t b I.grder'"a
interest in the Property.
Cowtlewwatiow, The proceeds of any award a claim for damages, direct ur consequential, in connection vriM any
caredtgenation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. arc hereby assigned
and shalt be paid to Leredec.
Ja.the Buns! of a total tsking of the Property, the proceeds shall be applied to the sums~t~ecured by this Mortgage.
with the eaceess. if any. paid to Burrower, In the evens of a partial taking of the Property. unless Borrower and I~eteder
otherwise agree in writintt. then shall be applied to the sums secured by this Mortgage rock proportan of the pt+ooeet4
as is egwl to that proportion which the amount of the sums secured by this Mortgage immediately prior to the Baia ~
taking txsrs to the fair market value of the Property immediately prior to the date of taking, weth the balartoe oft)ee proceeds
paid to Borrower. -
if the Property is abandoned by Bor.~ower, or if. after notice by Lender to Borrower that thr ootedemttor otfera b make
an award or settle a claim for damages. Borrower fails to respond to bender within 30 days esker -the date such notice is
mailed. Lender is authorized to collect and apply the proceeds. at Lender's option. either to restoration tx ~r of the
Property or to the wms secured by this Motittalee.
' Unless Lender and Borrower otherwise agree in writing, any such appticaGon of proceeds to pruedpal shill not extend
or ptutporee the due d:te of the gronthly installments referred to in parsgraphs 1 and 2 txreof or chutge the agwuM of
such installments.
1t. tiorretrer Not Released. Extension of the time for payment or medifiation of amortization of this suten seamed
by this Mortgage granted by Lender to any successor in interest of Bamawer shall not-operate to ukase, in nay manner.
the liability of the original Borrower and Borrower's successors in interest. Lender shall not be rogtrircd to comrreereoe '
protxedinga agairot such su~oce_ssor or refuse to extend time for payment or otherwise modify arreortization of the sums
secured by this Mortgage by reason of any demand made by tht oriltinal Borrower and Borrower's wccessors in interest.
11. RKieararrce r? >(,enier Not s Waiver. Any forbearanec by Lender in exercising any right or remedy heretneder, or
othensise aRorded by appt:~bk law, shall not be a waiver of or preclude the exercise of any such right or remedy.
The procurerreeret of insuraaoe or the payment of taxes or other liens or charges by Lender shat! not be a waiver of Lender'a '
' -right to accelerate the maturity of the indebtedness secured by this Aotagage.
tI. Resiedie"s ~ort~ All nretedies provided in this Mortgage arc distinct and cumulative to any other right a
remedy under this Mortgage or aRorded by law or equity, and may be exercised concurrently, independently or stecoessively.
13. Ssccesaars tetnl Assigss ttbww~ .Joint awl Serest l3atsiliryr, Ca*tiews. The eovenants and agreements herein
" contained shall bind. and the rights hereunder shall inure to. the respective wceessors and assign: of Lender apd Borrower.
wbjoct to the provisions of paragraph 17 hereof. All rnvenants and agmments of Borrower sha_
11 be joirg and ~ several.
The pptiotes' and %eeadings of the paragraphs of this Mortgage arc for convenience only and erne not to be used b
intetptet or debne the prov"esions hereof. _
14. Notice. Factaept for any notice required under applicable law to be given in another gunner, (a) any notice b "
Borrowe? pt'ovidod for in this Mortga,~re shall be girth try mailing such notice by txrtitied mail addressed to Borrower at
- the Property Address or at such abet address as Borrower may designate by reotioe to i.erder or provided her!rie, and
f~) any notice to Lender shall be Given by txrtifled mail. return rcotipt requested. to i.endet's address stated- tt~ein or to
such othtr address as iendtr may designate by notice to Barrowec sa provided herein. Any notice provided for in this
Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. -
' lS. Uwtfornrt Mortgage; Gorerwiag Lw: Severability. This form of mortgsge combines uniform covtteants for national
use and teen-uniform covenants with limited va:iaitons by jurisdiction to constitute a uniform aaurity instrumetet oortrity
real property. This Mortgage shall 6e ttoverncd hY thr law of the jurisdictior. in which the Property is batted. In the .
etrcret that any provision or clause of this Mortgage or the. Note conflicts with :pplicabk law, such caaflict shalt not aged
other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
end the provisions of the Mortgage and the Note are declared to be severable. '
lf. ltorsower'a Copt. Borrower shall be furnished a conformed coP3 of the Note and of this Mortgage at Ilse tiaee
of execution or after raordation hereof.
17..7"rawsfer of tic Tro'aty; Asswepitsw..If all or any cart of the Property or an interest tlrrein is sold or tnttsferred
by Borrower without Lender's prior wriucn consent. excluding (al the creation of a lien or etewmbntece subordinate to
this Mortgage. (b) the creation of a purchase money security interest for houseleold appliances, ic) a transfer l+y devise,
descent or by operation of law upon the death of a joint tenant or (d) the grant of err; ks~hold interest of three years or less
not containing an option to purchase, Lender may. at Lender
s option, declare all the sums secured by this Mortgage to be
imteeediately due aril payable. Lender shaft have waived such option to aotxkrate if. -prior to the sale or uatesfer, Lender
and the person to whom the Property is to be cMd or transferred reach agreement in writitsg that the cred.t of such person
is satisfactory to Lender and that the inttn~ct payable on the sums sceured by this Mortgage shalt be at ;trek rate ><s Leteder
shall rrquest. if Lender has waived the option to accelerate provided in this paragraph 17. and if Borrowers sttctxs:or in
"enterest bas executed :written aswmption agreernaet scxep:ed in writing by Leteder. Lender shall release Borrower from all
obiiigtiau under this Mortgage cad the-Noe.
fit Lender exarises such option to atxekrate. Lender shall mail Borrower notice of aceekration in acoordaner vrith
pera~graph 14 hereof. Such notice shall provide a period of root less than 30 days from the data the rwtice is ms'kd within
which Borrower may pay the wises dtsNared due_ if Borrower fails to p:y such rams prior-to the-expiratton of such period.
Linder stay. without fttrtleer notice of"demand on P.otrovrer. invoke any rcneedios permitted by paragraph I!1 hereof.
Nor~r-[.it+ttaoant Covt=.narrrs. Borrower and Lends; further covenant and egret: as follows:
lg. Atsdaatlotq R~eiier. Facet m p:~lisd Iw p.nrgrarb l7 rerael. types i~ne+rse'a Ittreetr r cry csrewsru err
egreeaawt e[ •errertrer 4 tl* Mortgage. feclwihtg ere esrewtarts b ia7 win doe ttay tsiwta aatsrei r7 Wes 11~tertpge. II~esietr
M eeerkeaMow t+W .aii.oace N Borr...er or proraea ~ l.ragfapi is rase[ sprdfyiwg: p) rite iRac~ (tt the treliart
se~rinel !w esee ts~ trtr+ewclr (3) • irle. root ks Ww 3! nays trorw tie late the watar+e r staratl b tiarrswsr, bSr .rrieb tatti
tttrea+ei ttnw k etsre~ alai to anc fairrree N cwre area tlneaer oe er ttdere ere tiaee eaeiiatt i• tic wodee any rtetarlt r -
soeelerslfart d Art trrw,aewrei rr tiles Morlsage, t~alanrer b i~+r limit arm ate ei ere rroperty. 'flee waeice
t+W frrtr:r i¦firs tiwrower at fire dglM t• eeiMwe titter ac+edaratlow awl tiee rig1N N tewtM `else fieselaarre procaeirrg
the et a tiettrtslt or ass eiie* detenae of sorre+rer b ~ awl feeedowre. / thtr tto+ead tr at etsrd tos
K refiee Nee ttkie apxMai tis fire soth+~ tcewtlrr at t.ewler's oMtiets tiros tlaeiart' art at t>te taw teeews+ai-iy tti Mertggpe a 4
itwrelkidy tlwe asti pgark,rilbwt tttrtier dcatzad Gtr rws)r feneetaae iii Mastgage b 1w+kW lewder aiwtN
re ett~etl M t9silaet i• strdt preeeeliwg r espewes of forrcloswre, iwelw/itrg, rrt sat rwtilal ts. rerwwwrle sttwaer's ties,
Gtr earls d iresttrW~ry erMewee. a6draels arl title repetb. "
I!. •esowa'r titf~ltt a R~ Wotwithsundinlt Lender's atxekratan of flee stems seatrred by thef Mortpsge.
Borrower shall bane the right to have nay oceedings IeeEten by Lander to entortx this Mortgage discontinued u any 6tae
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