HomeMy WebLinkAbout1865 _ _
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Lender's wry agreeasemt at applicable law. l3msawer slat{ pay the atnougt of ap ~ iwuraaos psi im the
tttammer provided under puagrsph 2 Mreot.
Airy smounts dabutsed by Lader purswmt to this paragraph 7. with iatered thereon, shah became additional
itrdeMednas d Oonotror_ Mc~ ~a this Motigags. Umbss Borrower and [:ender agesto~ . d payttt+tmt. twcr
amounts shah be pyalrk upon ndice from !.ender b Borrvrver requesting payment thll~aoA.~laM~bar interest crow the
date of disbursement. d tba rite paysbb from time to time an outstanding principal under the NoM wless psiy?wsat d
interest at art:lr rate would be contrary to applicable law. in which event such amounts shall bear interest at the 6ighat raM
pennisa'bie under applicable law. Nothing contained in this paragraph 7 alts Fender to iacrrr amy espew of tabs
any stxiom heterwrdec = ~ ~ •
itspseNsa. Leader may make or cause to be made reasonable entries u end ir~pecti~ ef=tlte Propetry. pr~o~ridsd
that Lender shag ~~wtice prior to srry such inspection specity~ reaotrabb arse tA~fpt related so Iwrdsr'a
interest in the
CMiawMw. The proceeds d any award a claim for damages. dared a oarsequemtaf, ie eorrrreNiorr with atq
ooademnation or other taking d the Property. a part thereof. or for conveyani~?ie law d oaadt~tiom, arc hereby assigrrei
and shall bs paid ro Larder.
in the evert of a trial taking d the Property. the proceed: shatl be applied to the suns secured by the Mortgage.
with tbe.exoess,.ii any. paid b Borrower. In the event d a partial taking of the Property. tmless Borrower and Lemder
otherwise~agroe M writing, there shalt be applied to the sums secured .by this Mortgage such proportion d the p+ooeeds
as is equal to that proportion which the amount of the sums secured by this Mortgsge brrediatdy prior to the daM o[
taking bears to the fair market value d the Property immediately prior to the date of taking. whb the balance d ehs ennead[
paid to Borrower.
If the Property is abandoned by Bor.~ower, a if. after notice by Lender to Borrower that the oorrdeatrror oltas b mob
an award or aettk a claim for damages- Bam>,rrer faih to respond to Lender within 30 days aha the date sudr notice b
mailed. Lender is authorized to collect and apply the proceeds. at Lender's option. either to t+estorMion or repair o[ .frs
Property or to tht sums secured by this Mortgage. ~ . -
Unless Lender and Borrower dherwise sgra in writing. any such application d proceeds to principal :laB and stusemd
or postpone the due date of the monthly instalhrrrnts referred to in paragraphs 1 and 2 hereof or change the sarouat d
such irrstallrrtemb.
1r. >>oenawer Nof Releases. Extension d the time for payment or modilkation d amortization d the sums seprred
by this MoKgap granted by Letrder to any srrooessor in interest d Borrower shall not operate to release, in any manna
the liability d the original Borrowrer and Borrower's :trcresors in inieret. Lender shall not be requ6ed to comnrerroe
prooeedir?p agaimf such arocsssor a refuse to extend time for payment a otherwise modify amortization of the stmrs
secured by this Mortgage by reason of aryr demand made by the original Borrower and Borrowa~s successors in interest:
11. 1ResMsrsnce b merrier Net s ~Nairer. Any fartrearantx by Lender in exercising any right or remedy lraeunder, a
otherwise aRarded by applicable law. shall not be a waiver d or prochde the exercise d any such right a taneiy.
The procurement d insurance or the payment of taxes or other liens or charges by Lender shall not be a wairet d Leader's
right to aooekrate the maturity d the indebtedness secured by this Mortgage.
!t iteaeip (~.osled~ Afl remedies provided in this Mortgage arc distinct and cumulative to arty other right a
remedy under this Mortgage or afforded by law a equity. and may be exercised carrcurrently. iedependartly a wooessively.
1~ ~ssr: sera Asslps [!cool: ,islet ants Sererai i~ caplM.a '11re eovemrmts ants agreemara heroin
contained shall bind. std the rights hercurrder shall inurC ro. the.repectiv!e :utters and aeries d Larder sad Horro~wer.
wbjed to the provisions of paragraph 17 hereof.- All covenants and sgreanara d Borrower stall be joint and several.
71re captions' and headinp d the paragraphs d this Mortgage arc for eorrvenierrce only and are not to lk used to
interpret or define the pravi:sorrs hereof.
14. NNke. Except for. any notice required under applicable. law ro be given in another manna, (a) arty notice to
Borrower provided for in this Mortpae shah be given by ensiling such notice by certified marl addrewed to Borrower at
the Property Address or at such other address ss Borrower may designate by notice to i.errda w provided basin, and
• (b) any notice to Lender shop be given by csrtifkd mail. return receipt requested. ro Larders address. stated herein a to
such other sddress as Lender may designate by notice to Borrower s: provided herein. Atry notke provided for in this
Mortgsge shall be deemed to have been given to Borrower or Lender when given in the rmatarer desipated herein.
1S. UsrYeras MertR,age;'Coverrslt Laws SeversbOkp. This form d mortgage combines uniform oovenana for natio.sl
' use and oar-uniform eovarana with Ihrrited variations by jurisdiction to constitute a uniform security instrunreM ooMaing
real property. This Mortgage shall be governed by the law d the jurisdiction in which ~tbe Property a located. in the
event that any provision oa clause d this Mortgage ar the Nde conflicts with applicable law. snch conflict shall nd aped
other provisions d this Mortgage or the Nate which can be given effect without the conflicting • ~ to this
end the provisions of the Mortgage and the Note arc ckclared to be severable.
ti. Bsssewerlt Gapy. Borrower shsll be furnished a conformed copy of the Note and d this Mortgage at the time
d execution or after recordation hereof.
17..'Itisasfer et wt fraped7r Ast.r.~fi... if all or arty part of the Property a am interest therein is sold a transferred ~
by Borrower without Leader's prior written consent. excluding (al. the creation d a lien or encumbrance subordinate to
this Mortgage. (b) the creabarr d a purchase money security interest for howehdd appliance. (c) a transfer hY devise.
descent or by operation of law upon the death of s joint tenant or (d) the grant d any ieasdwld interest of three yeah a less
not cornaining as optatr to purchase. Lender may. at Lender's option. declare all the sums secured by this Mortpge to be
immediately due amd payable. Letrder shall have waived such option to aooelaale if. prior to the sale a tramfa, t.errda
and the person to whom the Property is to be soW or transferred reach agr+Qernent in writing that the crodit of such person
is satisfsdory ro Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Leader
shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and d Borrower's suceeaor in
interest has e:ectrted a written sssurnpion agreanart accepted in writing by Lends. Lender shad release Borrower from aN
obljyrtiont [lender this Mortgap std the Note.
I[ Leader exa+caes such option to sooekrate. Lender shall mail Borrower rratitx d acceleration in aecordancc vrith
paq~aplr 14 hereof. Such notice shall provide a period o[ not less thsn 30 days from the dale the notke is marled within
which Borrower may pay the sums declarod due. it Borrower faib to pay arch sums prior to the aspiration d such Period.
Lender [nay. without furtlra notice a demand on Borrower. invoke any remedies permitted by patagnph I g hereof.
Nor~r-Urnroru`r Co~verraxrs. Borrower and Lerida further covenant and agree as foilo~ars:
li. Aeedsratls.i Rwrssist. E~oeaM as prwNei a. pragrapr 17 Irsassl. tree. llsrsa~wsr~r b...ei d awl e~.swrt w
apes.rs.e.t>tsrsewer t• fYs Merlgsge, iaelsdlgg we csverrsa~ls N MO~.~he. ise a¦0? rows ese..i rj? Mi MsaMsp. mstssstr
paler N aeesiessasw sYi tsra0 tsstfia M Bossarrrer as pr~wfie+ tat psrapaNr 14 tsetse[ sr•eryirgs p) we rrssrelo (=tare adMrr
asgsin~i M ears wat3 rrsseri 131 a ~R wsf Ns [Barr lays frsrrr we ittte Ore .alias r [[saint N llsarswsr. b vrlrier steer
her saws[ k etw+dl ant IN Omit taMtras Is etsas rod M+arer M ar Mfese wt isle ~
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a[ ~ !a/erhr~'1Le nstlee
seaMssMsia d ie wars tsetrasi b Eris 1Msrfgsp. liaeaisearc b ji.iew N•ae~•g
tsrttr 6awar i¦/ssaa Mrrrwsr d fit rlgY M s~slrrslale a[ler stalaaOsrr stl tit r1gMf b assts[ r Ore tsrstlssaee psoesstitg
rt...~dMaot.r. idsNlt.r an.tlrer ieferrse at Bsnwrer w sccelersW a.i r««l...w r st rttaer Is of eawi..
K ret«+t are iMt sptewi r are..Mea lerrier.t l.errsesa's apliirr w4 isel~se ti s[ tit wt.s tse.r.i y? file M.eggaNt at 4 j
r¦wtafsb? acre a~i pspaMe wMMtit fa,ftlrer irwad arri wad tsaseisse was Msatpp y }ieY /asaedlalt• Lewder rrt11
k ea11Ni N esBset Y wet psressir~ ant s+apewsa w1 /ieeciewrse. Iweisiwg. ref met ¦saNsi /sr wtwwsilt siWrwey'a has.
s¦i e>tats d isaamsaMq? ~vYwet, arMrsefs srri MOs re/ssi.
i!. llsawraw'Is 1RyM » Natwithuardit~t l.errders soodaatiow d the some seorrred by thn Mortgap.
8orrawa shall have the right to have soy poceedings begun try Lerida to enfortx the Mortpge discamtinued at any time
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