HomeMy WebLinkAbout1651 - - ~ V ^_.._---------r-- - _
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Leader's written asreemart a applicable laver. Borrower tirW pay the amount d aN mott;ase iwrrrasos pr+easittast i. the
meaner provided under puasrapi 2 hereof.
gay amouMS disbursed by Leader pursuant to this paragraph 7, with interest thereon. :half beoane sdditional
indebtedness of Borrower secrtred by the Mortpse. Unless Bonvwer and Lender a~tee to other buts of payateat, such
smouMs:frall be payable upon rrdice fray Lender b Borrower roquestims payment thereof, sect shall bear intact front the
dab of disbnesaetart. at the nab payable Fran time to time oa _ otttsWrdinj principal under llte Nob taAlees psl~.test of
interest at such nb worrW be contrary to applicable law. in which event such artrorrnb shall bar interest at the hiiltest ntle
perntissibk uadtr appligtbk .law. Ndhins contained in this parasraph 7 strap regains Lpodsr b incur say ettps.ss a tats
say action lra~rsradet,
ias*scdest. Leader may make or cause to be made reasarabk entries upon and inspections of tfra Property. pr+o~rided
that Lender shall sire Borrower rrdice prior to any such inspection specityins reawnabk cause therefor related b Lertdst's
interest in the
Caait.snads.. The proceeds of any award or claim for damagg, direct ie~aoirs~q. in ooaetec~tiow with say
oorrdemaatlorr a dher talons of the Property. or part Urereof. or for eonveyarroe in lieu of ooadanaatioa. an her+e6y eaeisaed
and shall be prod to Leader.
` in thy: sverd at a total talons of the Property, the proceeds shall be applied b the wms seamed 6ryr this Mortpse.
with'the excess. if say, paid to Borrower. in the event of a partisl talons of the irroperty. unless Borrower std Leadx
otherwise singe in writirrs. tlnre shall be sppliai to the suns secured by this Mortpse such prnportioa of fire pooeedt
. s: is equal b that proportan which the amount of the sums secured by this M b the dale at
takia= bears tp the fair market value of the Property immediately prior to thy: dab of~a
~&~balanos a[ the p+ocseds
paid to Borrower.
if the Property is abandoned by 8or.~ower. a if. after notice by Lender to Borrower that the oardemaor olkrs b ttats
an award a settle a claim for damages. Borrower fails to rapond to Lender within 30 days aher'the dab sudt trotioe is
rrrailed. Lender is authorized to collect and apply the proceeds. at T.ertder's option, either b res/oratiort or repeat d the
Property or to the wms secured by this Mcmttaix.
Urdess Lender and Borrower dheewise asroe in writintt. any such application of proceeds b prirrcipd :ball not ercteed
a postpone the due date of the monthly installrrrents referred to in parasraphs 1. and 2 hereof or champ tits araotent d
such irrstahntents._
lfl.~ Berrwrer Nos Reiertaei. Fattension of the time for paymrnt or modiAcrrtan of amortization of the web secured
by this Mortgsse :ranted by Lender to any successor ig.interat of Borrower shag not operate to rekate, in arty msanet.
the liability of the orisinal Borrower and &+rrower's successors in interest. Leader shall not be required b cormrtenoe
proceedarp spiral such successor or refuse to extrnd time for paymrnt or otherwise modify anrortaation sf the sums
. secured by this Mortpse by reason of argr demand made by the orittinai Bon~ower and Borrower=s suoodaors in integer.
11. lrerieara.ce b Ltsier TiN s waivt~ Any forbearance by Lender in exercisins any risht or remedy lreretradex, or
otherwise afforded by appliabk law. shall not be a waiver of or prochrde the exercae _ of . sny such risht at reeetedy.
The procureenrnt of ieauranoe a the payment of taxes or other liem a charges 6y Lender shall not be a waiver of Lender's
risht to aocekrate the maturity o[ the Indebtedness secured by this Mortpge.
12. R~a~eiiss arrts.IstirrZ. Afl remedies provided in this Mortssp are distinct and cumulative b any other tislrt or
remedy under this Mortsase a afforded by iaw or equity. and may be exercised coacurnntiy. ~1)? K stx~rely.
13. 8tseceassrs sect Assess Borrrdr .ioiwt anti Seveal ilnii~ Captls¦s. The ooveaaab and apeeateats herein
contained shall bind, and the rishts hereunder shall inurB to. the respective srrooessors ant assisea of Laden and Borrower.
wbjed b the provisions of parasraph 17 hereof. All covenant and asramarts of Borrower shall be joird and seMeral.
The aptans' and headinss of the parasraphs of this Mortpse arc for convea'rence only and acs red to be used b
interpret or deArre the provisara hereof.
14. IWtlce. ipatcept for any notice regtrirod under applicable law to be sivrn in another manger. (a) any notice b
Borrower provided for in this Mortpge shall be sivrn by mailins such notice by certised mark addeeased to Borrower at -
't the Property Address or at such other address as Borrower may desisnate by notice to T.errdsr as provided herein. and
F (b) any r10tICe to Lender shall !re sivrn by oertilkd mail, return receipt requested. to Larder's sddrgs=stated 6ereirt or to
wch dher sddeess as Lender may desisnate by notice to Borrower as provided herein. Any octane provided for in this _
Matpse shall be deemed to have been sivrn to Borrower or Lender when peen in the maratet desips~bd herds.
E 1S. Unrirwt Marge; Cover.ittR Law; Severaiiiity. This form of mortpse combing uniform oovaranis for national
use and rear-uniform rnvenants with limited variations by jurisdiction to ooratitub a uniform security initrunreM oo~rerurs
cal property. This Matsase shall be soverned by the law of the jurisdiction in which the Property a located. Ta the
evrnt that any provision or clause of this Mortpge or the Note cordlicts with applicable law, such ooatict shag not afiect
other provrsiora of this Mortsase or the Note which can bit sivrn eBect without the oonflietins provision. and b this
end the provisions of the Matpse and the Note are declared to be severable.
lip. Barrwer's Cosy Borrower shall be furnished a conformed cops of the Nde and o[ this Matsaje at the mete
of execution or after rocordatiar hereof. -
17:.'I~a.sfer of dit lro~erty: Aasrtsspiew. if all or any part of the Property or as interest thtrein is :old or transferred _
by Borrower without Lender's prat written consent. excludins (a) the cratioa of a lien ar eaarrnbnnce srrbordinab to
this Mottsase, (b) the creation of a purchase matey security interest for haselrotd appliances. (c) a trarafer by devbe,
descent or by operation o! law upon the death of a joint tenant or (d) the Brant at any lessehotd interest of three yeah or less
not cantainins an option to purchase. Lender may, at Lender's option. declare all the sums secured by this Moripp to be
immediately due and payable. Lender shall have waived such option to asxadaab if. prior b the Bak or tratafer. Lender
and the person to whom the Property is to be sold or transferred resch ap+eenratt in writins that the credit n< such person
is satisfactory to Lender and that the interest payable on the wms aecwed by this Mortpse shall be at arch rate as Leader
shall regtrat. i[ Lender has waived the opion to accelerate provided in this parasraph 17, and it. Borrower's wocetsor in
interest has esecuted a written aaumption atreanart accepted in writirrs by Leader. Ltorder shall release Borrower from all
ot~ysatioa: under this Mortpss and the Note.
T[ exa+cisg such option to aocekrate. Lender shall mail Borrower notice of acceleration in aooordanc~ with
psasraph 14 bereoL Stitch notice shsll provide a period of not less than 30 days from the data the notice is mailed within
which Borrower may pay the :rues declared due. it Borrower tails to pay such suns prior b the expiration of such period.
[.ender may. witlwtrt further notice or demand on Borrower. invoke any rernedig permitted by paarsraplr is hereof.
Not+-1Jrae~ouat Co~vEt+w~. Borrower acrd Lender further oovenaru and asros as foflo~ws:
~ iB. Aar Rsgsiss, ~ ss prsvNsi r pnrsp+sph 17 isrsst, trpssi Bsssnwrrs'ri itsuseh of :sty esva.st K
aprlsgsst of Bstrw~r~sr t• tiY Mart, itel.isrs dit swrerwrls M ~ wftest arse rrq wens ssesrrsi isj tltfr 1Msr~e. iunir
~ peter N aoosieeallsn sli wsB :retire w Mnrwer ss /rarMsi la /rapa/It 14 htns[ apaellyis~ss p) M ttsesela tis sstls.
f rs*irM w ewe wei ~ ~ s i1e. rest. has there ~ isys trwrs die isle ds .slke is .tarsi N Bensewsr. b wild swei
flsseh mrllt it e>rsdi smi (4) lost tafitsrt M tsrr! atseh iseaelY acs K ietast -Iit isle s/seRsi i. tit ttsdet say rtstit r
.eoeletsrss st M wry ssetrrei i!' lair Martyast. tessdswrs i7 ~ M+essitrs sari ssi N dK lhraperq?. '[fe s~stlee
sisal Mgr ittasw Bstssw~a of des ryit r reirtsarle after aeedsrads. arri dte rfsM /s assert r tie firselesess psuasiss
Ote.s.~eedsla.ea./ • iet..i ~r a.o?.grer iaftiat.f B.rrrwrer M aecsleraliN sari antr.rrre. r •e Sraei fe net esrrei w
K tMt«e the istt s*ee~i.i r w.stlee. i.e.iet M Lewier~s Mt1iw as4 Heine ri M its star ssewei Icy Mtb Msstrase N k
IntwsifNsly? ass atti pate witisstt fsrfliet icrra»s arty gray farseises tits INst~t y jsiielsl /er+essitMt. Lender sisal
M a¦iMrsi N a+aBset fi s>!dt peoeesilrts sii e:/eaaa wf /sreelsssrre. i.eirisr, brut ast tlt.Mai ter rsw.sMt atlurseylr Sass.
sni eesr at isewtrs¦tsry eriis.ct. aistrsels arts title rem.
i i!. iMeswssle Qlart M Rsi¦stsle. Ndwithstandinlt lender's aoodsration d the sums secured by the Mortsase,
Borrower shsll have the risM to have any prooeedinp beErrn Fry lender to rntoree this Mortpse discontinued u any time
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