HomeMy WebLinkAbout1627 Lender's written agreement or applicable law. Sort+ower shall pay the amount o[ art nwetgye ituurana pasiuaas is the
manner provided under Qaagnph 2 hereof.
Any stmounts disbursed by Lender purwaat to this paragraph 7. with irtwrest thereon. drop become additional
' indebtedness of $orroM?er aecttred by this Mortgage. Uttlas eorrowq atjd.'~~~~b odta teraa of paytwatt. torch
' smounts shaft be payabk upon mice tray Lender to Borrower roquestitig pa f. sad shsU beu interest frost tM
date of dbbttrsarteM, at the rate payable from time to lane on outstattdhtg prinapd under the Noce uttkss ps~aseat of
interest at such ate would be contrary to applicable law. in which evert such anwtmb shall bear interest at the highest tale
pd'mipibk codes' applicable law. Nothing eontaimed in this paraBrapit 7-shall requite Lender to iaouc arty expsasa or tab
say stxio~a tnerewtda.
ittepaelMn. Lettda may make or cause to be made reasonable entries upon and iaspeaiorw of the Property. provided
that Lender doll give Borrower notice prior to say such inspection specifying rwoaable caws therefor related b l~sads~b
interest in the Property.
GnierooaOto. The proceeds of arty award a claim for damages.. direct a oortsequeMid. is eortrtecaon with soy
ooadetrutation of other taking of the Property. a part thereof. or for conveyance in lieu of aatdanaatioa. are hereby atsigeel
and shall be paid to mender.
In the evert of a total taking of the Property. the proceods shall be applied to the sums secured bq fhb Morigsge.
with'tlre excess. if any, paid to Borrower. in the event of a partial taking of the Property. unless Borrvrrer std Leads
otherwise agree in writitgt. there shall b applied. to the suns secured by this Mortp~ge such p~oportba of the proceeds
a b e4ual.to that proportion which the amount of the sums sectored by this Mortgage imntediatdy prior b the dsle d
taking bean to the fair market vatuc of the Property immediately prior to the date of taking, weth the balarroa of the prooeedt
paid to Borrower.
- if the Property b abandoned by Borrower. or if. after notice by Lender to Borrower that the eondemaor oQera b ttsaloe
an award or settle a claim for damages. &?rrnwer fails to respond b Lender within 30 days a~e~'the date such notice b
mailed. Lender is authorized to cdlxt and apply the proceeds. at, i~nder's .option. either b restoration or repair d ihs
Property or to the sums secured b)? this Mortgage. _
Unless Lender and Borrower otherwise agree in writinE. any such application of proceeds to prirtdpal slab not exlead
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the arrtotrot o[
~s i~siasu:a;uis.
18. Besre+wer Not Rekassi. Extension of the time for payment or modification o[ amortization o[ the sums segued
by this Mortgage grtnted by Lentkr to any strceessor in .interest of Borrower .shah not operate to reksse. at arty etaaaer•
the liab'lity of the original Borrower and Borrower
s successors in interest. mender aha11 not be requirrd b oorrNnenoe
proceedings against such successor or refuse to extend time for payment a otherwise modify amortisation of the sums
secured by this Mortgsge by mason of say demand made by the original Borrower and Borrower's sueoaaors in interest.
11. Fosiearawee b l.eotler Not a iYaiver Any farbesarwe by Lender in exercising any right a remedy hereunder. a
otherwise aRorded try applicable law. shall not be a waiver of or preclude the exercise of any such right or nynedy.
The procurerrtatt of inwattoe a the payment of taxes or other liens a chargers by Lender shall not be a waiver of Larder's
right to aooeknte the maturity of the indebtedness sectored lYy this Mortgage.
12. lksseia anralaOvrt. ~Atl remedies provided in this Mortgage are distinct and cwmulative to any other right or
remedy trttda this Mortgage a• afforded by law or equity. and may lx exercised concurrently. indepardeatly or wooessivdy.
13. $nceasars acct Asstgas Ilernd:.taint soli Sareral Uaiilign Caplisas. The eoMawab sad ap+eeatertb herein
contained dull bind. and the rights hereunder shall inure to. the.rrspective strooesrors and assigns of iemder acct Borrower.
subject to the provisions of paragaph 17 hereof. All covenants and agreements of Borroter shall be joint and several-
The captions' and headings of the paragnphc of this Mortgage arc for convaiience only and are not to Ile wed b
interpret a define the provisions hereof.
14. Netke. Exoep for any ndice required under applicable taw to be given in another rnanrna. (a) any notice to
Borrowrtr p~nvidod for in fhb Mortgage shall be liven by mailing such notice by certified mail addressed to, Borrower at
the Property Address or at such other address ss Borrower may designate by notice to T.ertda as provided herein. and
(b) any rtotioe to Lemder shall lre given bI? certified mail, return receipt requested. to i.enda's address, stated herein or b
such other sddr+ess as Lertda may designate by notice to Borrower ss provided herein Any notice provided for in this
Mortgage shall be deentcd ,to have been given to Borrower or Lender when given in the rnarota designated herds.
iS. Uottasos Matte Gnnrni¦It Lae. Severability. This form of mortgage combines uaifa'ra coerenartb for nstioad
~ use and rton-uniform covenants wkh limited variatiats by jurisdiction to corutaute a uniform security! imtrwrtatt eovaatg
real property. This Mortgage shalt be governed by the law of the jurisdiction in which the Property b located. to the
event that any provision oa clause of this Mortgage or the Note conflicts with applicable law. such oordlict sha0 not aQat
other provisions of this Mortgage or the Note which can be given etiect without the conflicting provision. and to thb
end the provisions of the Mortgage and the Note are declared to be severabk•
lf. Mrrew~er"s t"ep. Borrower shall be furnished a conformed Dopy of the Note acct of this Mortgage at the torte
of execution or after recordation hereof. -
17..lkaoster of ate Tre*esty: Aantwpiaw. 11 all or any part of the Property or as interest therein b sold or transferred
b)? Borrower without Lender's prior written consent. excluding (a) the creation of a lien or atewrtbrana subordinate to
this Mortgage. (b) the creation of a purchase money security interest for howehold sppliartoes. (c) a tansfer by drubs.
descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasdtold iMaest of three yeas or less
not containing as option to purchase. Lender may, at Lender's opion. dalare all the awns warred by this Mortgage to be
immediately due and payable. Lender shall have waived such option to aoodaate if. prior b the sale a tratt:fer. mender
and the person to whom the Property K to be ~oltl or transferred reach agreematt is writing that the credit of such person
b satisfactory to Laden and that the interest payable on the sums secured by thb Mortgage shall be at such rate as Lender
shall request. if Lender ha waived the opion to accelerate provided in this paragaph 17. and if. Borrower's stteoessor in
interest hss executed a written assumpion agreement aaxpted k writing by Larder. Lender shag release Borrower from sll
~ obljpttions under this Mortgsge and the Noe.
H gender exercises such optan to accelerate.. Lender shall mail Borrower notice of aoceieration in sa^ordartcc with
[ paragraph 14 hereof. Such notice shall provide a period of not less than 30 days fran the date the notke b msfied within
~ which Borrower may pay the wms declared due. if Borrower fails to pay stnch [wets prior to the expkstion of such period.
Coffin may. without further twtice or demand on Borrower. invoke any remedies permitted by paragraph 1lt hereof.
Nor+-Ut+rtonnt Ca~er+~rr'rs. Borrower sod Lender furtlKr oo~eaant and agroe ss Eoibws:
18. Aeedasaaq s:¦ttllss. ~ r preiltl i• rarapaM 17 Itssea~ tspeo Ilesraw~ 1Me.a a+t ttsry a~avwartt .r
~ agew.e.e.t >tanwrur I• Ail INarlgagt. loeloiog Ae e..e..n1s a pq wire. sae aq sws ttseweti b Oi lrits*age. ms¦der
prlsr M aarlesartn ii ossi nonce N Ilarswrer ses prsviled r paragw~ 14 isret[ spterflags p) M ~ (=1 tht selitw
se~airai M etrse ttttrfis lereaek l~ a dale. nN Mss rtoo 3fi days franc aft dstt Ore nsMee Y ttsa/si t. Merawer. r!' whielt toer
~ MSneU tssrt M etsradi err M Ira[ M trrra stse# bleach ea K Mtese dtt lalt s/tertl~ M~)<re*erly~'de nstlos
F apesleearsw M M wws alilwe! y Ala IMaf~,sp. /a.eslssare b jttlidal
~ riot hetMr Y/sees Bat»wsr el Ole right N reinslslt after ooesiesortst sad tie rlgM M tutert t• rtt 11,tseeistosre lseessig
~ ~tn•estelsnes st s detattlt err a¦y ether le%ise et Ilerrawer N aeeeNrartrt aoi teea~eltsost. r Ott bleach Y tstl sere/ M
sr MMe rte felt sptelfis/ t• Ore trMtw i.soler st [.cola's a+p1Mw relay lselase si st Ore write steess~sl b Otis Mtrlgttge fa k
M a¦tirsl M attest r
s~pieesediag ai t~s/easa et/ tereelosort. Inelo~ai.8¦dlsl 1tr s~eaeensMt anuraey's fees.
atsti caste ai d.estttta¦larr sils•es. •Ml••ep a.l fiat rep.rls.
i!. llersewals tllM a bielalt. Notwithstanding Lender's aoodaation of the stttas secured by tha Matgaga.
Borrower shah hsve tltt right to have any proceedings 1teEurt ~ [.coda w attora this Mortpge discontinued u any time
X325 P,~~f~t -