HomeMy WebLinkAbout1969 . ~4~t
rnth•t•, wntten .t{:rrcuuut of apt+In.lhle Ltw Btun+wcr ,hall {+a) 1hr ant,auu of all murt{;age in,uc.uttt• ptrntieun. rrl the
ntanurr !a.+vuictt un:irr {+al.tgr,tph ? hrreuf
:fin. aultautt, dl,l+nr,rd h\ 1 cntlrr {+ur,nant tt+ Ihn par.ILr,,ph \\!th uttt•rest theret+n. sh:dt hrcomr additlon:d
Illtli it!rdnr,? t•t itt+l l,+tttt ;r~tlrcd h\ 1h:? ~lefl!'alr In1c„ Ist+11.•V. t•1 .t!!.I I rlHll'1 .11!?re Itt t+tlKl Il'fm? t+f p;ICntl•Itt. ,llrh
anttaults ,h.lll I+c ~,,\;Ihk up,ul t,t~ti.r frt+m I rndcr t.+ B.+rr.tw:l rr,{ur,tinc {+.t\nu•m thrrrt+l. ;utd ,h.til t+r.u intrrtat from the
,i,de t+f di,hunrmrnt at the r;Itr p:l\ahh• term trtnr ttt rimy tut unnr.uldene principal under the lnte unless payment of
interr,l at sat•h talc wulll+l hr rt+nUerr t.+ apph:ahle I:e\. in which rsrnt such amtalnts ;hall brat interest at the highed talc
penl?isihlr under appli\:ahle law. \uthirlg ctatlained in this paragraph 7 shall reyuirc I ender to incur au)' expense or take
- am• action hereunder. t
8. Inspection. Linder m;iy m,I{.e I~r i ause ht h' made rr;(.unable rrttries 1!pt+n and impectuats ,.f the Property. pn.\•idal
that Lender shall gi\•e At+rmwer netirc prior to an\• such insperUtan ,perifyin?! reasonable cause therrft+r telatrd M Lcndcr's
interest in the Pntperty
9. Condemnation. The pct+; reds (+f :+ny :retard l\r claim for damaers. direct ur con,cyuential. in eunnertiun with any
~undemnation (,r whet taking ut the Property. ur part Ihereuf. or fur rurt~•eyanre in lieu of rondemn;?tiun. arc herrM• assigned
and .halt 1`t paid to Lend. r. •
In the cvCnt of :1 tt+tal taking t+f the Preprrty, the proceeds ,hall I?r applied tt. the some secured M• this \ferlgaGe.
with the excess if am•. p.,iti to Borr.+we~. In the event (+f a partial taking of the Propert\~. unless Berruw~er and Lender
taherwise agree in \sriring- then; shttlj ;+pplied to the some secured M• ihi, '1lertiagc sut:h propurtien of the pmcreds
.IS is cyual to that pmperti.+n \\hirh the amount of the alms serurrd h\ this \tort~_a~e immrdiaRh• prior tr the date of
wkink hears to the fair market valor of the Pruprrt\• immediateh• prior ut the date of taking. \tith the balance of the precl:cdc
paid to Bormwcr.
If the Pmpern• is ahandene(1 h\ Rurmwer ter if- after notice h\• ! eltder to Burn+wer that the condemner effete M make
:,n awanl t+r settle a claim for d lnlaees. Bt+rrow•er fail. ttt rrsptmd tt+ I ender within Zt) dacs after the date wch notice is
mailed. Lender i. authorized to cellrct and apply the pntcrrdc, at I ender'; option. either to restoration or repair ef,the _
Property ur to the sum, secured h\ this ~l(lrteaLc
l'nles, I enckr :md Borruw~r uthent isr acres in \t ritirt~. an\ such ;.G.:Itit+n of proceeds to principal ;hall nt+t extend
ter ptstp~ne the due d.ite of the nn+nthh in;tallmrnts rrietrrd to i+? t+alagrai~h, 1 and hereof or ch:utgr 1hr anutunt of
,wch inst:alment,.
r 10. Eorrowtr \ot Released. l~xlenci(.n of the lino lur pa\mrnt ur m(.difi_:Itiort of amortvation of the srlms cerurrd
hr chi. ?l(u;teage granrt-tl ht L(:nder R+ an\ succeswr ut interest of Bermwer .hall not operate to release, in acre- ma!Incr.
the ii:!hility of the eriein.ll Bormwcr and Rern+wrr's succe\„+rs in intcrc;t. 1_ender shall nut Ile required to commence
net+c•_edingc against Inch sucrearr rr refuse to extend time fur pa\•mrnt er othenvi;r modify amortization t+f the sums
~e~ured h\• this !Mortgage h\• rt ason of anv tfem;utd made h\ the erieinal Borruwrr :In(1 Born?wcr s cuccessurs in iMcrcct.
I1. Forbearance by Lender \ut a R'airer. :\Ilt frrhearln.i• h\ !rndcr in cxcrcisine :Inv right er remed\• hrrellndrr, or
,•therwise afforded M applicable I:,w. .hall ntlt he a waiver t+f or preclude the exercise of am' such right er remedy.
"fhr procurement of imurance :~r the pa\•ment of taxe. t+r :+thrr liem t+r rharf;es h\• Lender ,hall not Ile a tt:uvrr t+f i entler's
fight tt, accelerate the maulritc of the intichtednr„ ~e~ured h\ tbi, ilurtcaee.
12. Remedies Cumulatir,•r. Vl remedies pr(+tided in thi, \lrrtga?•e are Distinct and rumulati\•e to ane t+ther right er
irmed\' under thi, ~1t+rt,•.I?e t+r alT,~rd.•d law t+r eyuin. antl ma\ he rxrrcisetl rt,ncurrrnth~. independentl\ or ,ncce,si\•eh.
13. Successors and :~s ikm Bound: Joint and tieteral t.iahility: ('aptions. "The rovrnantc and agrrentrnt, herein
.t+nt:unr.i shall hiltd. en(1 the light, herrunt3er ;hall imlrr tt+. the rrs{+crticc .noses.++n ant! assien\ of 1 entlrr :Ind Borrower.
~!!hjcct ht ?he pn•ti,it+n. t+f parlgraith 1? heret•f. VI cuc~na!th .ultl aglt:rmrnt, of Borr;nrrr shall he it+int ;ntd se\rral.
the caption, .tntl hra,Ln~•, o' the paragraph. of thi, ~lorlgaze art for runvenienre onl\' and art not to he used to
nt:rprrt ttr define the pr,tci,irn~ heret~f
14. twice. ExceM ft•r anv notice rcuuired un/G;r aphlic;lt+tr Lnt ~t~ he t•ic,•n in an,+ther manner. iai am notice to
Htannter pn+\ided fur in this ~lrrtga~_e sha!! Fte given h\' maiGn ~ wch nt+wcr h\ it•rtified mail add:es,ed to Borrower at
the Prt+{+ertx :~ddre-., t+r at ,urh other addre„ as Bt+rn+wel nr.tt dr,ienarr h\ ,~,+tice it, 1 ender ac pn,\~ided herein. ;Ind
'h? an\ nutirr t:+ 1 ender ,hall ht• !•isrn h\ certified mail. rc:urn Irccit+t rruu_•;ted. to I ender'; address ctatrd herein or M
;~ch ,+ther addr~,, .a Lcndrr m::\ d;cignate h\ nrtia• to i3t+nt+•.trr a; Lr.+tuicti hr;cin •~n\ nt+wcr pr.+\ideJ fur in this
V~+rtage shall i>< tlcemrd 't+ hats been ei\en su Burn+.+rr t+r 1 endt•r a hen t:i\t:n in th_• manner dcsien;dell herein.
IS. l'nifurm ~lot1>;a>;c: GovcrnintE' Law: Setcrahilih. 1 hi, 't+: rn t+i nu+n~_at~r _tanhinta uniform ~o\•en;utt, for n;nittnal
i,i and Iltgt-lrtlltt+rtit ltt\C't;ttll~ wllh Ilnlltr.l \afleht+M h\~ ttli!u!i:.1:+n It+ it+t hllttlir a Ilillillrnt Cl'c lIr11C Intl rllrltent rOVCrln~j
real prepert~ fhl; \turt~~a±;r shall hr go\ernrd he the laa ,~f the nrri,dichtut in tt•hirh the Pmpertr I, !t><-ated. In fibs
.•t~t•nt that am' pruvi;iur. or clause ef.thi, 111+rt~;r_•r .+r tht: rt• c+httli,t, with apnli;able Ltw• ,ut h cenllict ,hall not attest
, thcr pre+\i,it+ns of th!, ~trrtea~_e ttr the \t+tr t.h,.h :all hr ~_itrn rffr:t witht+nt Iht: centli:tine pn.\isiun. and to this
.;?d iltr ttn+\I,It+11? tit I!Ir ~lt`r!!aL'e ::::cl tht' ~tqr .1Cr .lecl.trCd [t+ hC ;e\'erablr.
16, Borrost(•r~ ("opt,. Bon;+url ,h,ti! he furni;hr.t a ~,~nlt+rnted rt., ,+i the \otr .rratl t+f Ihls ~lorteaa•e at the time
~t (;te:utiun t+r .fitter r~ct+rd,ltiun hereof.
17. 7•ransfrr of the Pn?perls; :lssumplion. If ,,1! ;ta\ a,!rr tit the Pre+~rrt\ or an mtelrst therein is „+Id or transferred
h•. Kern+wcr \,ithtait Lrndrr's prim writtt•~: ct+nsem. r~cludin~ t.,, the crr.ltital of alien t+r cncumhran ~ suhstrdtnatc to
thi, ~to:t~,r!x. thl the creation t+f :1 rurcha,c ntt+nt:\ ,e.u~it\ :ntrrr;t ft+r htvrscht+hi anpli;+ncc;. tc! a transfer M• de\•ise•
decent t+r hr t+prr,ition t+! I,Itt 1ri,t+n the death .+t !t+r•t n•nant ,•r tth the Brant of an\ teauhr?d interest et thrrc \~rarc er Ices
nt+t runt:+ining an rptitut t;~ purcha,e. 1 ender ma\..it I .n(Irr-~ t.I,ti,+;t. declare all the ;tlm, secured h\ thls ~turtgage to Ile
mntr.hatel\ due and payable. 1 rndcr ;hall ha\r a;u••ed ,u.h oput+n tt• ar~rler.lte i(. ?~rittr tr. Ihr sale er Uancfer. fender
:rd the person to wfit+m the Pn+prrt\ i, tt+ hr ,~+!t! t+r tr:In,tcrrcd reach arcrrtirnt in a ruin ih,+t the credit of such pCrcon
t, sati:factt>n to fender ;uu1 th,u tht: intrrr,t pa\ahle ,ut the sums srrnred hs thi, Mortgage shall hr at such rate ac Lender
,hall rcyurst. If I rndcr has wai\ed the optit~n :,crrfrrate pnnide.l in this paragraph 17. and if Bt+rrt\wcr'. successor in
~r.trrest has rxecutetl a \crittcn assumption agrermrnt arcrptcd in \t ritiitg h\• I ender. I ender chair release Bormtt•er from alt
++hligatiom umtcr this ~irttcacc and the \c.tr.
If tender e\ercist•; ;Itch ,+ptirtt tc+ acreler;nr. I en,ler -.hall mail Borm\trr notice of acceleration in accordance Kith
p;tragr.lph lei hereof. Sltrh nt+tice shall prus•idr ;I prrit+d ,+f rent les than i(1 da\~, fn,m the date the notice is mailed within -
~\hich Bornn?rr rna~ pa\ the ,ums derLtred d!rr It Bt+rr,+ttrr t,tih tr p:n wch ,ttmc prit+r to the expiration t+f such period.
Lender ma\~. without further nottre ur demand on Itt+rrt+tcer.:n\t+ke :un rrmedics perntitte+l hr paragraph 1~ hereof.
Noy:-t':vttot(st Cuvt-~s~Tti. Borrower ;Ind 1 ender further cm•enant and agree as follows:
18. :acceleration; Remedies. 1F.tcept ac provided in paragraph 17 hereof, upon Borrower's breach of any co~•enant or
a8reement of Borrower in this ~IortRa{;e, including the co.enants to pas Khen due ant- sums secured b}• this Mort8a8e~ Tender
prior to acceleration shall mail notice to Borrower as pro~idcd in paragraph 14 hereof specifying: (1) the breach; 12) the action
required to cute such breach; (3) a date, not less than 30 dais from the date the notice is mailed to Borrower. by which such
breach must be cured: and 14) that failure to Gyre such breach on or before the date specified in the notice may result in
acceleration of the sums secured by this ~iort{;a{;e, foreclosure ~y judicial proceeding and sale of the Property. 77te notice
shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeditt8
the non-existence of a default or •rn}• other defence of Borrower to acceleration and foreclosure. If the breach is not cured on
or before the date specified in the notice, Lender at Lender's option may declare all of the sums secured 6y this ~tortt;age to be
immediately due and payable without further demand and ma.' foreclose this ltorfQaBe by judicial proceedin8. Lender shall
be entitled to collect in such proceedink all expenses of foreclosure, including, but not limited to, reasonable attorney's fees.
and costs of documentary evidence, abstracts and title reports.
19, Borrowers Right to Reinstate. Notwithstanding t.en.icr, acceleration of the sums secured by this Mortgage.
Borrower shat! have the right to have any proceedings hewn by fender t(1 enforce this Mortgage discontinued at any time
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