HomeMy WebLinkAbout1676 . - . ~ - ~ _ ~ _~.~-_._.--..3...--.~_ . - _
•
' ~ ~ d ~~J~ i E
Lender's written agreeareat a applicable law. Botrowet shalt pay the amount at aB aartgaga iowranoe premitrrm is tM
manner provided under puagrapb 2 hereof.
Any amounb disbursed by Lender pur'waat to this parslra 7, 91~ thereon. ehsN become additional _
irrdeMednas of Borrower sectrred by the Mortgage. Unless Borrow ~~~~iyi~~tee b other team aE payment. ancb
amounts shag be payable upon ratite from [.ender to Borrower requestir~ payment thereof. and shall bear iMawl trap tM
dab opt disbursaaent. nt the rate payable from lilac b time on outasrrdins prirrapal under tM NoN utrkss pal~maet at
iabrest at such rate would be contrary to applicable law. in which event such amounts shall bear irrlerest at the llijhat rnts
petmiar'bk uadsr appliabk law. Nothing contained in this paragraph 7 shall require Lender b iaarr any expense off yob
nay action trereundec. -
fR Wpeeden. gender may make or cua+e to be made reasonable entries upon gad irrspectiorrs of the Property. provided
that. ierrder shall give Borrower notice prior to any wch inspection specifying reasonable cave therefor related to Lsrrders
interest in the Property. .
CaMeraeialiaw. The proceeds of any award or claim for damages, direct a ooroequential. in eorarecdoa with asiy
oorrdwrrration a other taking of the Property. or part thereof. or for conveyarroe in lieu of corrderrrsartion. are Ireeeby assigned z
and :hall be paid b Leader.
in iflE ~t of ~ totii tawirig iii the Priipeiiy, the prircails shall be apytkd b the sci'~iivd by tl# M~
with'the execs:, if nay, paid to Borrower. In the event of a partial taking of the Property.. urrkss Borrower gad Leader
otM7wise agree in writing, there shall be spplied to the sums secured Irir this Mortgage such proportion of the goosed:
a is equal to that proportion which the amount of the wms secrrrod by this Mortgage inmrediatdy pier b the daM o[
takirrs bears to the fair market value of the Property immediately prior to the date of taking, wits the balarroe o[ the piooeeda
paid b Borrower.
If the Property is abandoned by Bor.~ower, a if. after notice by Lender to Borrower that the ooademoor aflaa to naab
~ an award or settle a claim for damages. Borrower fails to rapond to Lender within 30 digs abet -the date wch notice is
~ttQaikd. Lender is authorised to collect and apply the proceeds. at Lerrder~s option. ertlrer b restoration a repair of ~s
PrbRerty or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise. spree in writing. any such application of proceeds b pcincipd shall not extend
or the due date of the monthly installment: referred to in paragraphs I and 2 hereof or change the araoual o[
such irrst
ltt. Not Releassi. Extension of the time for payment or n?odilkation of amortization o[ the sums seemed
by this Mortg granted by Lender to any arooessor in interest of Borrower :hall not operate to relesse. in nay mamref:
the liability of 'sal Borrower and Borrorovcrs successors in interest. Leader shall sat be required b eommerroe
. proceedings against srrocasor or refuse to extend time for payment or otherwise modify amortization of the sums
secured by this M by reason of any demand made by the onginai borrower gnu iwrrower'i sutzss..+a iz ~W
11. lreriessanee.b Nd a Waiver. Any forbearance by Lender in exercising any right or remedy lrererrrrder. a
otherwise aRorded by appl bk law, shall trot be a waiver of a proclude the exercise~argt--ll±dr-eight or resrredy.
The procurement of irr:unrra the payment of taxes oa other liens a charges by Lender shalt not be a waiver of Cadet's
right to accelerate the maturity indeMednas secured bry this Mortgage.
1L Reweia Cta•aWive. A remedies provided in this Mortgage are distinct and cumulstive b any other right or
nbaedy under~tha Mortgage or off by law or equity. and may be exercised concurrently. independently a wxsssivdy.
13. Sm~orsaars aai Asslgw Jeiat sari Several T.iabirl>; Gptiarrs. The coverrsnts and agteearents herein
eontained:ball bind, and the rights hereu shall inuri to. the respective srroeessors and assigm of Lender gad Borrower.
wbjed to the provisions of parsgnph 17 hereof. All covenants and agreements of Botmwer shall be joint and severe
The captions' and headings of the paragraphs of this Mortgage are for oonvenienoe only and an not to tk used b
interpret or ddine the provisans hereof.
!R Naaee. Except for any notice required under appligbk law to be given in another marrtret. (a) any notice b
Borrower provided for in this Mortgage shall be given by mailing such notice by certdled msrl addressed to Borrower nt
the Property Addras or at such dhcr address as Borr+nwer may designate by ratios to Tender ss provided herein. and
(b) any ratios to Lender snail be given by oertiMd mail. return reoeip .requested. to Lender's address, stated herein or b
such other address as Lender may designate by ratite to Borrower as provided herein. Any notice provided for is this
Mortgage shall be deemed to have been given to Borrower or Lender when given k the manner desipratted herein.
Is. Urrifarra Mortgage: Go~eraiH law: SeversNify. This form of nrortpge combines uniform oavenants for rational
! use and ran-uniform covenants with limited variations by jurisdiction to constitute i uniform security irwrrmrart coveting
real property. This Mortgage shall be governed M? the law of the jurisdiction in which the Property"is located- In the
€ event that any provision or clause of this Mortgage nr the Note conflicts with applicable law. such conflict shalt not aA~ect
other prov'rsrons of this Mortgage or the Note which can be given effect without the oonAictirrS provision. and to this
~ end the provisions of the Mortgage and the Note are declared to be severable. ~
li. lloerwra+s Gpy. Borrower shall be furnished a conformed copy of the Note gad of this Mortgage at the time i
of executan or after recordation hereof. -
17..Traasfer d tie Prepedy: AswrNtiew. 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 cratioo of a lien of encumbrance rprbotdrnate to
this Iriortgage. (b) the creation of a purchase money security interest for household sppliaaoes. (c) a transfer !ry dtvise;
descent or by operation of law upon the death of a joint tenant or (d) the great of nay lwehold interest of three years or less ~
not containing an option to purchase. Lender may. at Lender's ogles. declare all the arum sectrrod by this Mortgage to be {
t immediately due and payable. Lender shall have waived such option to aooderata if. pion b the sale or trsnsfer. Lerdet
and the person to whom the Property K to be sold or transferred reach agreerrrent is writing that the credit n< such person
is satidactory to Lender and that the interest payable on the sums securod by this Mortgage shall be at such rate as Lender
shall > 1[ Lender has waived the ogles to accelerate provided in this paragraph 17. and if. Borroarer's wooesot in
interest has executed a writtar aurrmpion agroearent accepted le writing by Leader. Lender shall release Borrower from all
obijirrtions under this Mortgage and the Note. i
if i exercises such option to secekrate. Lender shall mail Borrower notice of acceleration in acoordanec w•irh ;
paagraph 14 hereof. Stitch notice stall provide a period of trot teas than 30 days from the date the notice is marled within
which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period.
Lerrda may. without further notice or demand on Borrower. invoke any renrediea permitted by paragraph lg hered.
s ,
Now-tlentroare Covt:>r~?r+rss. Borr~ and Lerder further covenant and asroe as foparrs:
13. Aaeslantia~l Ranreira. Berets ere praviisi ire parrRrapi 17 iersat. ~ tasre~rrrtr's ireaer at arrl? aw~eaaM err
apeawwt of llarre~wa r trls MastBage. Oaelrrirrg •e ewenants N Mb? wra doe any se¦rs wcwei b Air MarlRage. iw¦ier i
paler Ia.eahs.li.. sbaD ra.0.atioa e. Beer«.sr s gre+vMai w parapapr is r.re.t spaelfliap h) err. Dseaeis ftl tie setiaw
segied M ewe wet iesaeii p) a ~ net Ins tiara S• ~0's frwrr Ira dale are necks f. maMi M >taesewer. try wfrkfs :tact
r>"a.er w.sR M swell a>,i N) fiat frapese N evert :tact wager M K ietsrr are deb ~
~ .t Ire rr~aperly. ..use
r faceeissaua~ at trs sat saewel b aria Ma~sae. tasaeMswe h 1~W lreaaira~
aW frsarsr filasm IMrre~wet at ors sigh M ralastals after seeeletatlN si Its right M Wert r ors flerseMwrre pseeeairg
are w•~Msnee at s detaeir.r arty after ddea.e at >torre«er N sadaaae~ anti tareelwe. rare tract te.ee easel aw
.r tense era dale ep«wl r ara..aea. Levier M Lerrler's s~ptiiw rmq d.tl¦e alt at cis a~ws ssewel b Iris Ma~aBe ~ rK
. imrrrellaMls l.e anti pa0?aYe srMr.tat tw/Mr le.raae arrr rnaf farreelaae file M«Igage i7? ~ N'~~• T~* ~ral1
M..IIw N altaet l..ar precaeifns .B a/eres .r faeelaswa irelrrilaR trtat art trsrhai ter. reaaearflle sttnrrreyls fan.
a¦i oar aI laorrt.ettlars e•ilr•a. aMtrae~a..l twe repar.
llarrewala ¦~M b Raiastnte• Notwithstruding Lenders aocektation d the sttrm scarred by thn Mortgage.
~ Bottarrer shall have the right to have any proceedings begun try Leader to enforce this Mortpge discontinued at any time
8ti0K`~t PACE16~