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HomeMy WebLinkAbout1670 - 11 . tertder"t written sgreematt or applicable law. Botrvaror ahW pay the aawetrrt d aq mottgya imuraooa praaitt¦ts iw the taaaaar provided under paragraph 2 heteoi Aay amounts disbursed by Calder pursuant to this 7. with interest thereon. shag beoortse additional iadeMedrtea of Borrower secured by this Mortgage., and Lender agree to other tenor of paynak. such atttouab :hall be payable opal notice fre>tn !.alder t0 r' requesting payment thereof. and :hall bar lateral lean!! tM dale eat d4btrrsantad, at the rate payable loom brae to lima oa outstattdiag prinripel under the Nola unless palytt+tastt d iater+e:t at wch rate would be contrary to applis<abk law. in which evertR atrcit ataounts shad bear lateral at the higl+at rttla penaaa'bk urtdar applicable law. Nothing oocttaiaod in this paragraph shag tequila Lender to ittctrr asy eupaw er tab nay actiou haeuader. - R 1lsepseMsw. Lender may make or catwe to be made reasoesbk entries upon and itapectioos e>< the Propettr that Lender shall give 8onower mice prior to any such inspection specifying rrasonsbte cause thaetor related to interest is the Property. - Casaiewrwstteaw. The proceeds of any award or claim for damages, direct ex oortsegtteatid. br ooasectioa vridt nth eoadannation a other taking of the Property, a part thereof, or for convayantx in 1iw of twndetetacttioo. atC itetebi~ atwigaed and shall be paid to [.ender. in the event of a t!+tat rtr's'~ et the iropzrtj. the: prrx; shall Iw i~icd io ilia ~i~ i~uno~i vji !rats Map. with the exvess. if nay, paid to Borrower. in lira event of a partial taking of the Property. unless Borrower and I~erader otherwise agree in writing. there shall be applied to the sums socutrd by this Mortgage such proportion of the peooaeda as is equal to that proportion which the amount of the sums secured by this Mortgage imatodiatdp prior tD the date d taking bears to the hir market value of the Property immediately prior to the date of taking. with the balance eat the peooeeds paid to Borrower. Tf the Property is abandoned by Boysower. or if. after notice by Lender to Borrower that the cotastsDaor oltas to trtt><rs an award or sank a claim for damages, Borrtntrer tails to respond to lender within 30 days sfter'tbe date such ootioe it mailed. Fender is authorised to collect and apply the proceeds, at l.arrder's option. either to ratoratiorr or tepeair of dts Property pr to the stuns sexutrd by this Mortpge. Unlees Lender and Borrower otherwise agree in writing, any such application of proceeds to principt! shall trot exlead or postpone tyre due date of the taonthly installment: referred to in paragraphs t sad 2 hsneof or change -the ataouM o[ such italallrtkats. - lti. liesnawer Net Rdeasei. Extension of the time for payment or modilicatton of amortization e>E the sneo: sxtue8 by this Mortgage granted by Lender to any sttooeswr in interest of Borrower shad not operate to release. is eta! maaaer• the liability of the origins! Borrower and Borrower's successors in interest. Lender shall not be negtrired to eoaianenoe prooeedi+sgs against stash suexessor or rofuse to extend time for payment a otherwise ntod'ety scrtortizatiow d the soma ....,..e.~. ~ .~sw, o. ar~i a+niwi~u mule by ire oriLtinsi isorrawer and tsorrO~s laCOpaors in iMerW. 11. Fas~earswce b Leawier Nat s Waires: Any forbearsnex by Lender in exercising any right or raaedy treraradex. a otherwise stfor~ded by applicable law. shall not be a waiver of or preclude the exercise of any such right or terrredy. The proeureatant of irnurance ear the payment of laze or other liens a cttsrges by Fender shall not be a waiver of Leader"a right to aceekrate the maturity of the indebtedness secured by this Mortgage. 12. 1Ressdks ~¦wwlsdve. All ranedia provided in this Mortgage -ace distinct and cumulative ib arty other right a rrrrrody under this Mortgage or aRorded by law or equity, and may be exercised ooocttrnattty, indepardartly or wooadvdy. lg. rlwoeeassrs !trot Asstgss 1{otrw~ ,JeirN anti Sevrral i.M1i)1gx Capds¦s. The ooMaraab and sgreeeaeots herein eontsinexi shall bind. and the rights hereunder shalt louse to. the.respective sttooasors sad sssigets of Leaflet end Bortevrer. subjoct to the provisions of paragraph 17 hereof. All covenants and egcrernertts of Borrower shall 6a joie and several. 'llte captans' and headings of the paragraphs of this Mortgage arc for eonvenianet only and ate not to be used to interpret or dune the provisions hereof. 11. Neltee. Except for soy notice n:quirtd under applicable taw to be given in another tosntaer. (s) any notice to Borrower provided for in this Mortgage shall be given by mailing such notice by certilkd marl addressod to Borrower at the Property Address or at such other address as Borrower may staignste by notice to Y.aader as provides herein. and (b) any notice to Deader shalt be given by certified mail, return rexxipt requewted. to iertders address. awed herein or to such other addrru as Lender may designate by notice to Borrower :s provided hatein. Any rwtia pno~rided fsor is fhb Mortgage shall be deemed to have been given to Borrower or Linder when given in the manrret designated hereia. 1S. Unit«w MoArprge: GoversLR Law: SeveraDiW7. 'This form of awrtgagr combing uniform ooeectants for rational use and nor!-unifornt covenants with limited variations by jurisdiction to coetstitute a urdfona security halrurrtatt oowaiag f real property. The Mortgsgr shall be governed by the law of the: jurisdiction in which the Property n located. Ice dye event that any provision or clause of this Mortgage or the Note oordlicts with applicable law. such conflict shall not aUect other provisions of this Mortgage or the Kota which can be given attest without ttte conflicting provision. and to this t E and the provisions of the Mortgage and the Note are ckclarad to be severable. li. lanawes"s Ce/y. Borrower shall be furnished a conformed copy of the Nom sad of this Mortgage at the time of execution or attar recordation hared. 17..'l~apster eat /Ma Pte*eet~: Assewc~ltow. if all or any part d the Property or as intaest therein is sold or traraferred by Borrower without Lender's prior written consent. excluding (al the crratioa of s lien or atctnmbnna subordinate to this Mortgage. (b) the oration d a purchase money security interest for howehold apptisrroes. (c) s transfer I+y devise. desexat or by operation of few upon the death d a joint tenant or (fi the grant d any leaseltotd interrst d three yeses or 1as not containing an option to purchase. Lender may. at Lender's option. declsre alt ttte stars secured by this Mortpge to be itamodistety due and psyable. Leetder shall have waived such option to aotxlerate i[. prior to the ask a tratsstar. Leratkr f and the person to whom the Property i< to be cold or transferred radt sgreentatt in writing that the credit d such person - s is sstistactory to Lender sad that the interest payable on the sums secured by this Mortgage shstl be st stte:h rate ss Lender shall request. 1t Lender hss waived the option to sccekrate provided in this paragraph 17. and d Aorrowe` s sueowot is interest has executes a written assumption sgreematt aexepted in writing by Leader, Lender itap release Bortovrer from aN obtjgstioas under this Mortgage sad the Note. It Lander axarases such option to atxxknte. Lender shall mail Borrower notice d aeederstioa in sooordancz with paa~aptt 14 hereof. Such notice shall provide a period d not less than 30 days from the date the notice is msBed within which -Borrower may pay the stuns decbcad sue. f t Borrower fair: to psy such soot: prior to rho expintio; god period. !,ender rosy. without further notice or danand on Borrower. invoke any renredia permitted b paragraph Np~r-Urnroaw Covtr+ewrs. Borrower and lender further oorertsnt artd ap+as as toMows: 1~ AectlersNswl Reset. Bseept s pr+rtis+ iw wttpaN 17 tterlset, .p.. li.n.wsls ttwaKi eft ..y esvttrsawt « f ttgtseaeswt at 1Ne+rwa b Ats Meelgsge, itele~ tie aw.ettrsrtls N pest' whew etste swws treetlro/ b tYs 1Nasigag's. t,atrier s panty w arcaMeaMsw sltai sssM ..Ike to ltettwwr s ~seatiei r pseape/r tI Asereat spaeMyl¦p p) Are bs..ek t=? the tteNsw ~ segiei y ewes !neat beeaerri a dsile. sat less !taro ~ e1sPs tray tM its M wallee 4 nssiai M Mstwwetr. ti wttki !alai heaaei sltcst M emesii nest (4) Mast Qallrwe M cars saeh Mr•eh aw « betels ltts ire ~ ~ at the 1Tn/erlp• adios •a+slesoMsw er[ tie s>rss ssewsei y tW 1Ms'~~• f#asaeMwe~s b ~ ! alai testier Mttssrrr >larasw~str d Mre !lent Ira eaiwMrt alter seislefatlsw ant bt etgM M asses! iw tie tenelwtlea /waste tie wssa.etiiele~ee at a ie[aslt «awr alter isteitsa.t 1fen~s«es N wreelesslMn ant te.tis..se. • Mte itseaelt r ..t ctasad M «bdbse Mtn elsls spseMsi V Mss rtoMtw Lawler at I.ewierls ~tiaa twq eteelsre ti eft tie soma sscttesi Oq tiY 1MMef~s M 4 less a.i p4aMer wtlMewt tststlier deeraowr arse! .ay teseadsse tYs M«tB,sp y }ieW pestasiM. !Lewder ,Itsr bs e~sMet tw wsfa /sreeediag ti ea7t fewsa d fesectwwte. t¦daiog, bsR s»t itaMsi t~, sesesrrslis sanrraey's lass. s¦i arils ef{ iaosrsaaswlsef eviiawes, ahdtaels trd INk se*eete. 1!. 1lasetawes'IS R~ N Iesl¦slsla Notwithstanding lender's aooderatiow e>f the swiss secwed by !lees Mortgage. I Borrower :bsll have the riglu to have nay proctedings begun by Lender to enforce this Mortgage discontinued at say time t1tAg~C _~i till