HomeMy WebLinkAbout0244 Lender's writtcsr agreement ex applicable law. iorrower t>fraA pay the amount d ap mortgsga inwraaoe premiuars rn the
manner providedf under paragraph 2 hereof.
Any smounts disbursed by Lender purswnt to this paragraph 7. iilllt Lrtetest thereon. shall become additional
inefeblodrress d Borrower secured by this Mortgage. Unless Borrower and tender agree to other tetras d payment. such
amewnts shall be payabk upon ncMice from I.tnder to Borrower requesting payment there:ol. and shall bear interest rrom drs
date of disbursement st the rate payabk tram time to time on outstanding principal under the Note unleits pajrmatt d
interest at such me would be contrary to applicable law, in which event such amounts shall bear interest at the highest rase
permiuibk under applicable law. Nwhing e:ontairred in this paragraph 7 shall require Lender to incur say expense ex take
sny sction hereunder.
i. Itrpeetliats, tender may make or ca~ue to be made rtasonabk entries upon and inspection d the Property. provided
that Lender shall give Borrower rrwiee prior to any such inspection specifying reasonable cause therefor related to Lstdtt's
irrterest in the Property.
Coa/e~allsw. The procesds d any award or claim for damages. direst or cnrrsequerrtial, in rnrarectlon with any
condemnation or other taking d the Property. or part thereof, or for eanveyance in lieu d condemnation. sre hereby assigned
and shall be paid to Lender.
In the event d a fwd taking d the Property. the procexds shall be applied to the wms sextrred by this Mortgage.
with the exce:u. it sny. paid to Borrewver. In the event of a partial taking of the Property, unless Borrower and Lader
wherwise agree in writing. there shall be applied tn- the sums seaircd by this Mort`age such proportion of the proceeds
as is equal to That proportion which the amount nl the sums secured by this Mortgage immediately prior w the dale d
taking bean to the tair market value of the Property immediately prior to the date of Taking. with the bslarroe or the proceeds
paid to Borrower.
If the Properly is ahandaned by Borrower. or if. after notice by Lender to Borrower that the oonddsttor olkts p Ittaks
an award or settle a claim for damages. Bc?rrawer fails to respond to lender within 30 days suer the date strQr ttotks b
mailed. Lender is authorized to collect and apply the proceeds, at Lender's option. either to reatorstion ex rtsp•ir d the
Properly or to the sums secured by this Monpge.
Unless Lender and Borrower wherwise agree in writrnR. any such application e>< proceeds to•prisclpal Brad not eattpnd
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 herwf or change the arrtoertrl or
such installments.
tt. ~errower Not Released. Extension of the time for payment or modifkation d amortization err the suns seurrod
by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release. in sny manner.
the liability of the original Borrower and Borrower
• successors in interest. lender shall not be required b eomrrrenoe
proceedinp agairat such successor or refuse to extend time for payment or wherwise modify amortization sf the u.ms
secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers arecasors in imere:a:
11. Posrearawce b r.ewtkr Nat a Waiver. Any fnrfiearanex by Lender in exercising any right or remedy Irerarnder, a
otherwise aRorded by applicable law. shall not be a waiver of or preclude the exercise of any such right or ~renrredy.
The procurement.of insuranex or the payment of razes or when liens or charges by Lender shall not be a waiver d Larders
right to accelerate the maturity d the indehtedness secured by this Mortgage.
12. Retwediea Ctiwrerlafhe. All remedies provided in this Mortgage arc distinct and cumulative to any whet right a
remedy under this Mortgage or aRorded by law or equity. and may be exercised concurrently. indeptndently or wovgsHrely.
' l3. Sttceettoss and AtsiRrss Isoarrd:.loirtt atsi Several i.ta6ilih; Capllans. The covenants and agrexatents herein
contained shall bind. and the rights hereunder shall inure to. the .respective successors and sssigns d Lender spd Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joirtl and se:vml.
The captions' and headings of the paragraphs of this Mortgage are for convenience only and arc not to ISe used to
interpret or define the provision hereof.
14. 1VaNcs. Except for any mice required under applkabk law to be given in anwher manner. (a) any notice to
Borrower ptm?ided for in this Mortgage shall be given by mailing such notice by certilkd mail addressed to Borrower at
the Property Address or at such whet address as Borrrnver may designate by nwiex to Lender as provided herein. and
(b) any notice to Lender shalt he given by certified mail. return receipt requtsted. to Larders address staterd htrein or to
such whey address as Lender may designate by nrNice to Borrower as provided herein: Any notice provided for in this
Mortgage shall be doomed to have been given to Borrower or Lender when given in the manner dtsignsted hercirr.
1S. Utdrors Martgagt: Govendrrg Law: $ertrsbNHy. This form of mortpge combing uniform oovrnants for rational
li use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property a located. in the
i event that any provision or clause of this Mortgage ar the Nwe conflicts with applicable law, such conflict shall not aReiet
whet provisions d this Mortgage or the Note which can be given etfez:t without the conflicting provision. sad to this
end the provisions of the Mortgage and the Note arc declared to be severable.
ld. iorrawes's Co*y. Borrower shall bt furnished a conformed cop}' of the. Nwe and of this Mongsge at the time
j of execution or after recordation hereof.
~ 19..Trarrsfer or fire Pnoperfy: Asesrrwpiow. If all or any pan of the Property or an interest therein is sold or t?anslerred
by Borrower without Lender's prior wriucn consent. excluding (al the creation of a litre or eareumbranex subordinate to
this Mortgage. (b) the crouton of a purchase mc+ney security interest for household appliances. (c) a transfer hY devise.
descent or by operation of law upon the death of a joint tenant ex (d) the grant d any leasehold interest of three yesn or less
~ rrw containing an option to purchase. Lender may. at Lenders option, declare all the starts tenured by this Mortpge to be
' immediately due and payabk. Lender shall have wrive:d such option to sccelerate if. prior to the sale a transfer. Lender
and the person to whom the Property is to be Bald ex tnnsterrcd reach agreerrrent in writing that the credit c?t such person
is utisfactory to Lender and that the inttrest payabk on the sums secured by this Mortgtge shall be at such rate Leader
shall regttgt. it Larder has waived the option to accelerate provided in this paragraph 17, and if Borrowers wccessor in
intergt has executed a written assumption agra:ment aexcpted in writing by Lender. Lender shag release Borrower from all
I oblgations under this Mortgage and the Nwe.
j 1[ Leader exercises such option to sccelerate. Lender shall mail Borrower notice d acceleration in st:cordancc s.•~th
paragraph 14 hereof. Such notice shall provide a period of riot less thsn 30 days from tht date the notice is mailed within
~ which Borrower may pay the sums declared due. It Borrower fails to pay such wms prior to the expiration d such period.
Lender may. without further notice or demand on Borrower. invoke any. renredig permitted by paragraph lg hood.
3 -
j Nex+-UNtt~ortnt CO'VENANTf. Borrower and Lender further covenant and agree at taBowa:
lg. AetekeatMrs 8>ue/t w N'eriied i• /~ra/k 17 nasal. tePais Mtra+t'etfa issessll d s¦7' CNlfnrl K
agreaseat at •assawetr r bis Matrtpge. MselnihtL be eavewnrtls to f1~7' when else a>h wtns ssewsi b this MaslR~e.l.swretr
E NiK N acesientlaes alai tarsY tanNce w >torrawer as /rorMieel r rnsgta/Y l1 rectal flatMyiap t1) Ire rneaei: (sl tie eucsissr
sstl.iea M esra t>•ei rsse~ (3) .date. ttat less plan 3t elates taws lie elate lie natlee r t~sisel M >taenwsr. y wrici tatei
rernaei ttaaat re easel: etaal (h-fiat taiitrre Ter ewe welt rte.ei em fir ielass the elats apee~d r ties ..dce tt..y rssetM r
aoeelesatitst err be nos seewsi y bb Maslgatge. tateriawtnr b ~ M~'g~ anti sale eft tie tsa*ery. 71e tNtla
nlrsi> weber irtfer~ !{esrawer err fie right N reitastsle aNa aeedesatlan ass/ bs tight N etnaest i. be tasseYsws pweasittg
titre ¦ote:Y~teaoe eft . eletatsM ar arty ertier ekrersse at It..rwer M scetkratM. a.i terseeloswe. r the ltsaei <r ..r twsel
j or rderss tie el.Ie.p.ewtl r tie ¦otlee. Lert/er ar t.ew/e?'t e~tistr ttry eleeisss r.l be sttttr ssewstl b tits MastB.lpe tea 4
ittttaeelYtely elne anti Nysrle wfliod tetstrer elenrarrA and tray fisselsse Ai Mss~aBe y ji.diel.l /taeeeeitt• lewder .r.ll
re eialMlad M eaiset its stsei /aeeteli~ V espeerses ear roreelasnss. Iwelwi~. rat nest i¦tilsel Os„ seasatrarle snwereYs teas.
staff eaosls at ieresrtwe¦<r7 e.fieaee+ abArads etwd title rs~esla.
~ if. >tassawss's Rkrt tea Rd¦Mata NotwithstandinE Lenders aeoekration d the sums >eettrod by thrt Mortgage.
Borrower shall have the right to have any proceedings heEun by Ltnda to enforce thle Monpge discontinued u any time
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