HomeMy WebLinkAbout1682 Lenderti written agteeoseut a applicabN law. Borrower shall pay the amount d aq mortgyt iasurara preasiutrs is tis
manner provided under psragrapb T wrsd.
Any amounts disbursed by [.ender pursuant to this paraFaph 7. with interest tlteteon. bewrrte sdditioaal
indeMedrtess of 8orrowsr secured by this Mortgage. Urlas Borrower and Lender agree N other terms d paywattt. such
antouats shag be psyabb upon naive from Lender ro Borrower roquesting payment thereof. and shag beu intet+est firoro the
daro of disbnrspttertt. a< the rate p.ysbk from time to time on otttstartding principal wider the Note twlees psi~rtts~st d
interest at such rate would be contrary to applicabW law. in which ar+att loch antottrtts drag best iaterrDSt at the bigM~t rsM
permiatibie under appiicabk law. Nothing contained in this paragraph 7 doll requite Lender N iauw swy eapaaN ar tabs
a
~ sue. nwciinaor .
>L !!aspeeltar. Lender may make or csttse to be msde reasonsbk entries upon and asspedioas of the Property. povided
that Lender shag give Borrower notice prior to any such inspection specifying reasoetsble cruse therefor related to I~ttterb
interest in the Property.
Cartetttnaliast. ?lte proceeds of any award. a claim for damages. direct or oaaegttential. in oorwecdoa wish say
oortdeatnatiort a. abet taking of the Property, a part thereof. a for conveyartoa in lieu d eaadetanstion. are hereby arigaed
and shall be paid to Lender.
in the evert d a total tsking of the Property, the proceeds shall ~ he arms setwed by Lhis Mortgage.
with'the excess. if any, paid to Borrower. in the event of a partial taking o theperty. ualeta Borrower sod Leader
- otherwise agree in writing, there shall be applied to the sums sxuted by this Mortgage suds ptnportba d the ps+ooeets
ss is egwl to that proportion which- the amount of the sums securod by this Mortgage immedbiatdy prior to the dais d
rating bears to the fair market value of the Property immediately prior to the date of taking, w< the balance d the pt+ooeeds
paid to Borrower.
If the Property is aMndoned by Horbwer. a if. after notice by Lender to Borrower that the oortdeasror olkrs to tnsba
an award or settk a claim for damages, Borrower fails to respond to Lender within 30 diys atter'the date such aotioa k
mailed. Lender is authorised to oolkct and apply the proceeds, at Lenders option. tither. to t+estotsttion ar tepak d tM
Property or to the sums secured by the Mcxtgage.
Unless Lender and Borrower otherwise sgrct in writing. any such application of proceeds ro principal shag not ettlad
or postpone the due date of the monthly installments referred to in parsgraphs 1 and 2 hereof or change the. astwuat d
such installments.
ir. Barrawer 1Vot Rekasei. Extension of the time for payment or modiSeation o[ antortaation d the suns secured
by this Mortgage grunted Dy Lender to any urc~xssor in interest of Borrower shall not operate to. release. in any manner.
the. liability of the original Bomower and Borrower's suotesson iri interest.- Lender shall not be t~equired to ooatntertoe
proceedings against such sttooeasor or refuse to extend time for payment a otherwise modify amortization d the scans
secured by this Mortgage by reason of any demand made by the original Bono~wer and Borrower's ateoeasors in htterat.
11. ititsrwaraact lsd ieaitr Nat s 1Nalrer. Any forbearance by Lender in exercising any right or ternedy Itesttewder, or
otherwise alfor+ded by appliabk law. shall not be a waiver of or prcclttde the atQrcise of any such -right or remedy.
'slre procurement of inwranoe a the payment of taxes or other liens or charges by Fender shall not be a waiver cf Lenders
right ro sccekrate the maturity of the indebtedness secured by this Mortgage.
]2. Resaeaes Ltiswa1s11~ All remedies provided in this Mortgage arc distinct and cumulative ro say other right or
remedy under this Mortgage or aQorded by law or equity. and may be exercised concurrattly. irtdepgtdently a wooesdtreiy.
13. wrfssars .st Assisas Bed .iaiat atsi Several i.iabiq; CapWns. The ooveaaeps and agr+eet>lents herein
contained shall bind. and the riglth hereunder shah inurg to. the:respective suooessors sad sedges of i
aide' atsd Borrower.
wbject to the provisions of paragraph 17 hereof. All covenants and agreentatts of Borrower shsp be jdry and several.
The aptiorr' and headings of the paragraphs of thh Mortgsge are for convenience only and an not to lk used to
interpret or defMe the provisions hereof.
14. NNite. Except for any notice required under spplicabk law to be given in another msMter. (a) any notice ro
Borrower provided for in this Mortgage shall be given by mailing such notice br certiAed mesa addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice ro ieader as prorided herein. and
(b) any notice to Leader shad be given by certified mail, return receipt requested. ro fenders address, staNd herein or ro
~I such other addras as Lender may designate by notice to Borrower as provided herein. Any notice provided for it this
i Mortgage :haH be deemed to have been given to Borrower a Lender when even in the manner designs~ted herds.
iS. t)aitorw 1Nrrgpt~et CNtraiag Law= SeveraiiWy. This form of ntortga`e carbines uniform covenants for rtatioaal
use and non-uniform covenants with limited variations by jurisdiction to coratituRe a unifona sentrity.imtrtartatt oovairtg
~ real property. The Mortgage shall be governed by the law of the jurisdiction in which the Property » located. In the
event that any provision or clause of this Mortgage ar the Note oordlicts w$h appiicabk law. such corttlict shag not sQect
other provisions of this Mortgage or the Note which can be given erect without the eonAittthtg provision. and ro this
end the provisions of the Mortgage and the Note arc declared to be severable.
lf~. B~rrtrwes"s C~?. Borrower shall be furnished a conformed cop} of the Note sad d this Mortgage at the time
of execution or after recordation hereof. _
17..1~aaster at tltt Pse*erlyt Aawat*tiew. 1f sll or any part of the Property or an interest therein is sold or trartsfared
by Borrower without Lender's prior written consent. excluding (a) the creation of a lien or atpmtbrsnoe subordinate to
this Mortgage, (b) the creataa of a purchase money security interest for household appliances. (c) a transfer l+y devise,
descent or by operation of law upon the death of a joint tenant or (d) the great of any ieaseltold intaest of three years or less
not carttaining an option ro purdtsse. Lender may. at Leader's option. declare ail the sums secured >>y this Mom to be
immediately due and payable. Lender shall have waived :<tch option to aooderate if. prior ro the ssk or transfer. Lender
and the person to whom the Property is to be sold or transferred reach agroematt in writing _thN the credit of such person
is satisfactory to Lender and that the iMenst payable on the sums sectored by this lrfortjage shell 6e at such Tale as Lender
shall request. if Leader has waived the option to accelerate provided in this paragraph 17. and if Borrower's atooessor in
interest bas executed a written assumption agreentertt accepted at writing by i.ender. i~ertder chap release Borrower from all
obijgatioas under the Mortgage acct the Note.
if mender acer~ci+es such option to sccekrate. Lender shall mail Borrower notice o[ acceleration in aooordanec with
paatgnph 14 hereof. -Such rotioe shall provide a period of not less than 30 days troan the dste tie rtotioe is trailed within
which Borrower Tray par the cams declared due. Tf Borrower fails to pay such cams prior ro the atpication of such period.
Leader may. without further notice or danand on Borrower. invoke any remedies penritted by parsgrsph i ti hereof.
Not+-LJxrratr~[ CaveNatrrs. Borrower and Lender further ooveoant and agree a follows:
li. Aeosleratltri Rtwsiiss. w pnwNci V Nrapa/r 17 rrn.r. tspaa BarnwM's inner of say ew~s¦aat es
4 apttewerl ati Banrtwer w ti4 INMtgagq larlaiag tit eNerattls N /b' when isle arty caws Mewed b IYs MarIR,tBe. Lanier
i prlstr N aenlarier stet sttai as1)a N Barrtrwer as /ravMttl r /aragra/rt 11 Mreaf spteryis~gt (1) tw isaeltt iZ) tre aclltr
~ MtNiat N cwt web iaaer; (3I • ialt. oat !eM two ~ iqs foam tre isN trs rtaties it saarsi N Bantrwsr, y wYtr stnr
~ tract strstst k esstrii art (n that restore N ewe war irtacr M K ideM Irt rsN s/ttitist r Itte ttiatiet stray sewlf 1st
aoesieraMar at tlt car.. Mewsi b trls 1Ylarlpgs. lrsaewwte b jiatkld geoasilttg r rile .t lie lrrNerty. 'ilrt .diet
der irrM irtfsrw Mrnswtr of Its rlgY N relaMals stNr aealeratlart si t!e rlgY N assed i• tits fMetNtwe prottsiB
• ~ tw rar•e~Nroe et a adar.r ay.lber is/eisc of Banwrer w aeederatlar oat tnelss¦rw r the inner r a.e etrwi ar
e: idare tre iaN sptelisi Y t1e tuslls+t. [.enter « Lertter'~s aptMn way isdsse sr a[ tre caws Mlwet (17r Ais MMMsBs N k
i wweiisleh? itts ant pgsiie wMwat trrtier reward aa/ wad fsrteltM tltls Mart r! ~W !~R• is*~ Liar
M ea/Mst N atw t. war praeestlag ai atpeates at hrecltswtt, faelaiag, wt stM r.ilet tw nwtaaMe sitnraey's fMS.
art ants at tiaesttrNMwy edtsaa. aidraets art INIe repaetr.
1f. wstrwes'r >ltisif N Rsiastait. Notwithstanding Lender's aooderation of the sort setsrttrd by the Mortgage.
~ Borrower shsp Gave the right to have any proceedings beltttn by Leader to enforce this Mortgage discontinued u soy time
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