HomeMy WebLinkAbout2463 . :
_
- !
fancier': writteu agreaneat or applicable law. Borrower sftaU pay the anrourtt d s8 awrtgage ittstratsos ptea;iraats >a the
manner provided under paragraph 2 hereof.
Any amounts disbursed by [.ender pursuant to this paragraph 7. MritM~tt~ ~reon, shop become additiatal
' irtde::edrtess of Borrower secured by this Mortgage, Unless Borrower and ~ sgroe to outer tarts of paymeaf, such
amounts shall be payatsk upon notice from tender to Barow+er requesting payment iltereof. and shall beu &rttrpt teas the ?
date of disbursanatt. d the rate payable freers tune to time on oubtandirt~ principal under the Notts unless payslatt d
interest at such ate would be contrary to applicable law, in which event such amounts shill bear iMeted at tits highest tale ~
ptttaipibk under applicable law. Ndlring contaerted in this paragraph 7 shall require Lender to incest soy e~tpease ar testae ~ .
say saxion hq^sxroder.
R iaspee/Mei.~ tender may make or cause to be made reasonalt't entries upon and inspections of the Property. pt+oarided
that Lertdu shall give Borrower notice pries to any such inspection speci[ying reasoaabk catrse therefor related M Latdee+'a
interest to the Proputy.
Csaieasaaliea, The proceeds of any award or claim for damages, dit+ect a oortstquartial. in oottaectiott with say
oortdemrration or filter taking of the Property, a part thereof. a for conveyartee in lieu of eottdemaatioa, at+e fiete6y atsigeed
seed shall be paid- to tender. ~
in the event of a trial taking of the Property, the pros-eels shag be applied co the sums secured by thk Mortgage.
with the excess. if any, paid to Borrower. in the event d a partial taking of the Property, uttkss Borrower and Fender
otitenrise agree in writing. tftere shall be spplied to the stars secured by- this Mortgage such pcoportiott of the proceeds ;
as is tsqual to that proportion whkh the amount of the wets secured by this Mortgage irrenodiateq prior to the ride d
taking bears to the fair market slue of the Property immcdistely prior to the date.of taking, with the balance of the proceeds -
paid to Borrower.
if the Property is abandorKd by Borrower, or if, after notice by Tender to Borroaer that the oondemaor oQas to attke
an award or settle a claim for damages, Borrower faits to respond to tender within 30 days :Rer'the date such netts is
mailed, Lender a authorized to collect and apply the proceeds, at i,estder's option. either to restordiott a repair d iha
Property or to the sums secured by this Mortgage.
Unless tender and Borrower dherwise agree in wrttinlt, any such application of proceeds to prindpal shall not exlad
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof.or tlrs amount d _
such installments. _
. 18. Ifsn+ewer Not Reirasei. Extension of the time for: payment or modilkation of aawrtization d the swan secured
by this Mortgage granted by Leader to any successor in interest of Borrower shaft not operate to release, in say raamra.
the liability of the ocigtnal Borrower and Bc?rrower's successors in interest. Lender shall not be required to eomntelroe
proceedings agaiart such srrceessor or reftrse to extend time for payment a dherwise. modify antortrsatiort sf the sums
secured by this INortEsage by reason of any demand made by the original Borrower sail Borrowrer's streoeaors in interest. -
ll. Rorlearaaee b i.eseier Not a lYatve~ Any forbearance by Lender in exercising any right or remedy lterastda, or
otherwise afforded by applicable law. shall not be a waiver of or pre?:hrde the exercise of any such right or t~estsedr.
The procurerrrent of insuranec or the payment Hof taxes or other liens or charges by Lender shall pot be a waiver c+f ierrder'a
. right to accelerate the mattrrity of the indebtedness secured biy this Mortgage.
-.12. )Reseda Caslsfrfre: All remedies provided in this Mortgages are drstinct and cumulative to any other right or
remedy under this Mortgage a afforded by !aw or equity. and may be exercised cottcrtrrattly, indepesdeatly or sucoessivdy.
13. 3aeeessars sat Aarlgas •osatk .Taint ssd Berets! _ i.iabiNb; CsllMas. The oovatams and agreements herein
contained shall bind, and the rights hera:ader shalt inure to, therespective wocessors and assigns of T.arder sod Borrower,
subject to the provisions of paragraph i : hereoL All covenants and agreaaertts of Borraweer shall be joird and several.
The captiars' and headings d the paragraphs of this Mortgage arc for cunvenitaa only apd see not to 8e used to
interpret or define the provisions he~eaf. s
14. Nfatke. Except for any notice required under appl%abk law to ire given in another marwttx. (a) any rtaice tb
iorrower piovided tar in this Mortgage shaft be givers by matting such notice by certt>!ed mad addressed to 13orrowaer u
.the PropeAy Address or at web other address as Born?wer may designate by notice to Leader as pr+ovlided herein. and
rb) any notice to Lender shall be given by certified mail, return receipt requested, to Leaflets addrps stated herein or to
such other sddress as Lender may designate by notice toBorrower as provided herein. Aay settee provided ter is this
Mortgage shall be demand tb have been given to Borrower or Lender when given iA the manner designslted hes+eht.
1S. Usrifoftats MosypRe; Covenaiag Les; Seversbtiity. This form of mortgage cantina uniform oovartants for aationaf
site and non-uniform covenants with limited variations by jurisdiction to constitute a unifona sdcurity isatrumaK ooMeting
reaE property- This Mortgage shat! be governed by the taw of the jurisdiction in ~rltich the Property .is located. Ia-the
avcat that any-provision or clause of this Mortgage or the Note conflicts with spplictbk law. such conflict shaA not alfax -
other provisions of this Mortgage or the Ncxc wi?ich can be given effect without the oonflictirtg provision. aril to this
end the provisions of the Mortgage and tltc Note are declared to be sevdable.
li. Mrtrsrfs'a Clap. Borrower shall be furnished a conformed copy of the Note_ sad of this Mortgage d the time j
of execution ac after recordation hereof. -
17. ,'Ikaaster test Hoe Property; Arasrrptioa. if all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent. excluding (a) the creation of a lien or errcumbranax saiwrdinate to f
_ this Mongage, (b) the creation of a purctase money security interest for Irousehotd appliarroar (c) a transfer l+y device,
desaoatt or by operation of taw upon the death of a joint tenant or (d) the grant of any kasdloW interest of three years or feu
not containing an option to purchste, Lender may, at Lender
s option. dxlare all the sums secured by this Mortgage to 6e
imntedtatcfy.due-and payable. Lender shall have waived such option to aoalerate if. prior to the sale or trarafer. Lender
and thaperson to whom ihe'Proptrty K M be sold or iransferrrd resch agreement. in waiting that the credit of such person
- is saatisfsctory to Lender and that the interest payable on the sums secured ray this Mortgage shall be d welt rate as Lcrtder -
sahall request. if Lender has wraived the option to acuekrate prtvided in this paragraph 1?. and if Borrowers stlceessor in
inter.:; has executed a written assrartption apYemmtt aoaptcd in writing bit Lender. Leader shall release Borrower from all
obijptioas trader this Mortgage sad the Note. -
- H T.enda exercises wch option to acceknte, Lender shall mail Borrower notice d aoaxkntion in aacordancr v?•ith
paraptaph 14 hereof. Such notice shall provide a period d not less than 30 days [ran the dale tbe~eroRice is ntir'led within
whidl Borrower may pay the sums deNaresd due. _ if Borrower tails io pay such sums prior to the aspiration d such period.
[.trader may. without, farther notice a demand on 8ormwcr, invoke say remedies permitted by parasrap)l 18 hexed.
Note-tTsrrr~orrtK CavErraxTS. Borrower and Lender further oovesrant end sgroe as fo8ows: -
li. AtaYiaatletr >Reraedes. Sm fR ss Kidd trs psr~rpspir i7 lsereef, srpers Banower's fiireaelt of ahr e+resraet et
stgrseaeat fa[ >fanatvsr Is Ass Msrigagt. lseaiiwg the ee+eaaab to pyr when tae saw ae¦ta secartsi b tli 11NrtR,agt~ fL¦der
pries M atas+~lsa dear grill ssdiee a itomwas its previ4d r pragrap! 11 barest rpeeltyisgs h) else 6reaefB (A the at:Maa
- rs~siei M tare wth fireseht t~ a tilt; west lee -theses ~ days tsars Ile dots the attlire is atafhti to iarntasr. b whki each
Ilraaeh ar fie tested geld (41 t1Yat [rate Ie care aveh flreafh M st lets[! glad a~efftiad r the aelitt ~ sssalt is
aetr~lfathla fat ~ teals atal~e~ ft's ~ tsr~arieaar! Irk }deW /raaraadag geld et Ile M*erty. 'R! aatla
it !relies hthrra Iterrwwee fat ~e rigll M rdattalt abler atedaalf.~a sat else ~ M eaters b the tarecNwit praeses>rttg
- ~ ~ ~ a ~ fat say ellaer alldesrat et )fsrrswer N aeteleraliM atld tsrtiaRswre. Y Ile breath r aof [steed M _
er tkf=t.~e file attests apeeiied t• the .Mke. ti.arsler d eea+es's fapN:a ..y aflatlar! r.t t1Ye taws ascaeai fsp lilt. Msrlgalpa f~ 4 9
fasaaialeiy isle aai pgaYe..Mleart ttrrther deravar aril ~ [srtxiaee ifs Msr4eBs b !~W t+~tt• i~der rift !
- le:aBBai w teBset r aaeh precsedi.g r expesua et taecMasre, hlelsdag. rat sat tlfalhai fey reasaaaile saurrreys tees.
asst tests at i.raitae¦ltq evi/aaoq alalracls assd title aperta,
lf. >tanaw~a's fltlgBt is Reirelela Notwittrstsnding Lender's sooderatioa -ot the soars stxtteed by the Mortgage.
Borrrwar shill have the right to have sny proceedings txgun by Lender to enforce this Mongage ditcartintled u say time
g~324 P~ ~