HomeMy WebLinkAbout0195 1 rudri'; \anttrn agrectttrnt a?r eppharhlc lew. til+rmwer .half ~!!lj Ale amount~oT~lll) mortgage imw.ulcc premium; in the
m:,nn: r pra\•tlk.! ur:drr raregraph 2 hereof.
:~n\ ettta;uu; J:,hurscd h\• ! ender pur,uent ae thi; pere~nph Ith into rest thereon. sh:dl t?ee:onle additilalal
utalrh'edn1,, of ite.rrouer ucureJ ht thi, M•lrtgese ! I!c„ K.+rr:•\aer .utli I rmlcr •Igrer to other term, of p;l)•mrnt, such
am.n!n2; .hell I`c {•a\ahlc ur,•n noti:e: fn+nt I cndrr to Bl+rn•urr reyua•,ting p,,\ntel:l there,+t.:,nd shall Friar interest fmm the
l!:,tc of dishnrcemem at the r•,tc r?ev.?hle ~r,lm time to ann an outctendine principal under the !~otc unless payment of
illtere,t at c;:ch r.der would he contren a• apph:ahl. Lnv. in which went such am.alntc .hall hear interest at the highest rate
perrussitile under eppficahlc law \rthing crntained in this paragraph 7 ;hall require 1 ~ndcr tt. incur any c~lience or take
em' a.uon hcrl:urldcr. -
- 8. inspection. 1 cn.kr may m.,ke rr .atlse to he made reaartahle cntrie; uplln and incpea;ons Af the Property, pmvided
that I.cnder shall give Borroucr neatlcc prior to am• such incp~-coon spc;lf~•ing reasonable ;.lu;c therefor related tr. Lender's
ir;tcl,,t in the Pnpcrt~.
9. fondemnatioa. lln pn~.ecde of ,Im• award or claim frr d:.marcc, direct or conseglnntial, in connection with an}•
crndemnation .,r.•ther taking of the Pr.\perty..•r part therec?f. `~r for c.?nvevance in hew rf rnndcmnation. are hcrchy assigned
and ;Ertl I+c paid to l.endcr. -
In the event of a trial taking of the Property. the pnccedc shall he applied to the come sc`cured by this ~lartgage.
with the excess. if am•. peiJ to Borrl•wcr ~ In the event of a partia) taking of the Propeny. unlc~s,Bor v c.>• v d i.ender
otherwise agrlx in writing. there ;hall he applied to the ,time secured by thi, Mortg:l_pC such pro~It~.~f~tla~ proceeds
as is cyuel to that propelrtirn which tin ~moum of the sums ;~-urv-d bv_~ this Mortgage immediately prior to the date of
taking hence to the fair market valve .>(tltc Propcrt~• imrmdiateh• prior to the date of taking. with the halance of the proceeds
paid to Borrower.
if the Pmperty is ahandorted ti\ &\r~owcr. or if. after notice by 1 en.ler te. &~rroucr that /he condemnor offers to make
an award or settle a claim frr dsm./,•cs. &+rnl\yer fail. h` re•pen`d tl+ 1 cndrr within ill d;ns after the dat,• ,uch nolicc is
mailed. I.rndcr is atithorirrd to e..tilest and app9\ tin pnaca:ds. dt i ender ~ option. Tither to restoration or repair of ihC
Propl•rn ,+r to the wms .carrell h\ this Morttza~.
l'nk-s, I enalrr ertd &r+rro:acr otherNist ar!rvti In writing. am- su;h appli~atian of proceeds to principal shall not extend
lit postp.•nc tLc dce dote of tha: n`ont!tlc inctallmenh rcferr~•d to in paragraph, 1 :lent 2 hereof err chance the amount of
slrch installntcnK.
10. Borrower but Rtrk.•t+ed. F~:c^s~rn of the time' for pa\mrnt or modi6.etion of amortization rf the some secured
by this ~lar._ age gr:rated M'I cnikr to am_ stlccesce.r in intrr:-,t of Borro\~er ,h.,ll not operate to release, in am• manner.
the li,,hility the orginel Borro..cr aril Blsmucr', succesv+rs in intere;:. 1 railer sFiall nl~l .he squired to commence
pre?:ce.linrc against ,rrch ulc~esse`r of refu.ar ,o extend time for pa~~ment ar .,tlrerui,e mo;lify amortization of the stints
,r_Ilrcd h\ thi. ~1a~ngage by na:on of e•1\' dcmard made h\ the arrs!nal Born•wer :Ind Borrowert successors in interest.
11. fForbearaacr bt• Leader ~M a N'airaer. 1m f.•iharance M 1 rndcr in e\crcicin,• anv ril:ht or remcdv hercundcr. or
.ahtnyisc afTa+rded by apphcahlc law. ,h IN not F+c a w:+i\er .lf .+r prc~hldc the exercise of an\• such right or remedy.
The {•ncaremcnt bf imura.tcc or tha: re\nt.nt of teas ar ot1:Cr lier:, e?r charges Lender shall not t?c a waiver of 1 cndcr'c
?ight to :tCialcrate: the` malU:tty a; lhr 1n41:ht~dlii,; ,~=:Ifcd h\ th!, ~Iort~aYe
12. Remrdiec (•umulatire. ~llt ;cmcJlcs pr,`\i,kd m thi, \L+rtg.Ig1: ere d~,tinet :=r:.l :umulativc m :Inv .+th:r right or
remedy under •hi~ ~tartgeg: ar afi.•r;l.d t`c law ..r ryu~?\..lnJ m.,\ hr r`erciseel .,`ncu:rentl\•. indcpcndcntly or s:f~c~s,ivcly.
!3. Successor. and -~~;i=ac Bound: Joint and Serier~l Li.Iflilitc: ('aptiom. Thc co\•I:rantc end agreements hcrrin
consmncd shell hind. and tt?e ri_•ltt. hereunder ,hall m•Ire 2.+- !hc rcsp•:cti:c .flue,son and ascigm of I ender :uul Borrower.
,llhjelt tr rllc pi:>\r•iVn, ,`t ; ;,re+•reph 1 i hefl'elt- :~?1 ~O\t:a.l llh e!Al agrll mCnt, of Bllt:a\\"Cr Shall hl' tell(:[ :Ind K'yecal.
Thc c:lpt+,al- .,n;i heed,n_, .`t :he pareer.,rh. .,f thi, Mort~.,g.• arc frr crm•er. ~ncr rnty :Ind are n1~t to llc used to
in?: r, rat or defina' the nr,•. ,i.•m i:crc,+~_ -
id. \otice. Fvccpl f+`r ao\ nr~ice reuuircd un+{.r .rpp:i:ahl; I:IU n• h: `•;\cn -1 :,rather manner t:tl a+n• notice to
Borr++:ccr pro\laftd f+.- In thi, ~lear-_e~-r ,hall ,+\cn by r•t.ut~cle ,•lcil noires h\ .•rrt.~cd mail .Id:lres,id to Br+rnnvcr at
the Pr.+prrty -1Jdre" ar at .ie;h ..thrr ~ddrL•, ,,c B++rn+u_r n•:r dr~r:!`.IrL t.\ t!..;i:e eel 1 :n.kr a; provided herein. and
till ar.\ nat•:r :0 1 rndl-r steel! fn _1\en h\ :e'rhr:;al r:~.l+l. re!t rn 'lain::; ; requc,h_ei. to 1 rnder's address srlted herein or to
sact:.•the? ed.irc„ 1 critic- rle•: d_,ii-r,te h\ rnl:i.r to Barr.••+cr „ ^n•.idcll !:rrein. .~nc notice pravidcJ for in this
Mrtt_'eLC .!;ell he deemed to h,+\c h~r~ one:• cal li,`rr••uer of i .ndrr :aaen ~+:gin is the m:ulner dr.i~'natcd hcrrin.
iS. l-niform ~tort>;ake: Guvernille Caw: 5e\e/ahilih.. T!. •.`rm ~-t m:lrr~•;l~_e • mhinrs uniform ca+vcn:lnt, fl+r natior:.lf
,t' ;Inal •1.+I+-t;:llt~+: 'tt ,a\C~a•`t• '.:ate ~Ilttlt. a? S;lCWh.+n, Ifl: he~'i?p`n Ir is+:~c;iit lt.` a Ulit!ornt Cel Uftt\' IltclrllnTCDI ill\'Cring
r~ i pir}:rty _Thi, Mart_•e,•c ,r•.ell he ~."-trilcd tFn lew 1 , lhr iun,.l:ct+au i•t whi r the Pmpert\ Il?c:Itrd. In 1hC
e\Ynt ?hat end ; r +yt,ian .le;+,c 'hi, MI+-t~_a__- .`r the \:~tr ..`nr'i~r. •.+ith .lnl !ic,lhic lau..u.h conflict .hall ant afTect
ulhtr pr, ::.i.ln. of this M.+:?e.l+_c •h~ :ah•.h ...rl {,c ••I\~n r:Tc:l asi•h<+, rtes cau!licfin provision. ,,nil to this
trio ihr l+r,+\I,i,••t. of the \1l•rt:•ae~ ,:n,l the \.•rt• rd F`~ ,r1lr.:hli.
16. Borrowers Cops. Barr.••,acr .k.r'i f Ir,n,h"! .,•itt,•;a~rd :.~r~. a: :hc ~e+t: .wa rf thn Mort_'agc at the time
+t e`:ecnhon ,lf ,1:?ter r«Ord.fllltTl hCrt`Jt.
17. 7ramfer of the Property:.~ssomptioa. 1* .Itt .v ; ar: ,`t the Prapert: or an intcres? therein i, ,1•Id or transferred
h\ 13orr.~arr •arth,lut l.:lsdcr's prior writtr~T ..+=l•~n!. c..lali+ng I.tl the crt•::ti.+!; of !ic•1 a+r cncumhran.c sutxmlinatc to
ih+. 1f,`rl_•a_C- Ill) ?hC irlatt(ln p1:r.l1e~K Ilh'ili'. ,c:Lfti\ :flis;rc',t tar RaUxh,+ial :Ippit_InCe,. Icl a traflc(lr by de\'ISe.
de,crn? .=r by opt:erol• /lt lew up.•n the dc:,th rr i,+:rrt t~nan! a: fhr ,`rant of •Ijn ~cesehold intere,t of three \•earc ur less
n,•t canteininc an option to i ~u:he,+-. (1-nali~ nt•I:..It t rndrr'- l•ptt„l. alr~_I,Ire a!i the ,tint, se.u:rd M' this Mortgage to he
+:nm~.li;rteh title and pa~ah!r 1 ender .';e14 he.C •.a,;:.-J , ,.pr!.+n t•• :I;,,I~r.•tc if- F tint tl~ the sic or transfer. t.vnder ;
.:riot rtes pe:sor. to whom the Pr.+pt•rt\ i, t.+ 1`r .,li,l or tr.-:l,;rrred rc.l:h e_rccmrrt in :sr~t:rig th.lt the cre,iit of wch person
to eatf,fa;tan 4+) e_n,i..r ~.nr1 tF .{,..:..e;.. . - .ti+, .ti . _ - e., .t,: •t lr ~ 1-f:rlli2r
. ~ u.. • . ~ •.i. ~l\ •a- , . ~¦\i.IL., ~:t. ~II.111 ,R ,tl .,1111 Id1~
,her! reyuc,t. If 1 enl:~r ha. a:,l\e.! the p?:.+•1 e..~!I;r.l?;; pra\idrd :r. this pere_raph 17. and if Bl+rmwcr's succC55or in
rnt~re;t ha, executed a tsrirtrn assumptirn agreem.ntac:~{`ted in inciting he Lenikr. Lender shall release Borrower from all
e`hligetions unlfer thi, Mrrtgegc and the ~11'tC-
If 1 cnd~r cvcrcisr, such .+pii,+n to a.:.lrretc. I ~n.ler .h.fl! mail B/antwer notice of acceleration in accordanrc with
}.aragreph 11 hereof. Such notice ,hell nrovfde a {`;•rir.l of not its, th:ut 3f1 .le\s +rrm the date the notice is mailed within
.+h:~h Borrower ma\ p.lc t!te sum. declere.l due:. It Brrr,•:air lath ;ll p;lc such .rime prior to rtes expiration of such period.
Lemler m,c. withrltt ft:rther notice alt .!em:lnd ,+n K.arower :n:ol.e am reml•dics permitte.i h~• paragraph IR hereof.
tiowl: xttoR~t Crn•F~ a~i5. Borrower and I ender further crn_nar.t and attree as follows:
18. ~cceleratan: Remedies. ft~~cepl as provided in paragraph i7 hereof. upon Borrower's breach of ant` covenant or
agreement of Borrower is this ~lortgatte, including the cosenants to pat when due anj~ sums secured by this Mortgage. Lender
prior to accderatioo shall mail notice to Borrower as provided in paragraph 14 hereof specifting: (1) the breach; (21 the action
required to cure such breach: f3) a date. not lets than M dais from the date the notice is mailed to Borrower. by which such
breach must be cured: and till that failure to cure such breach on or before the date specfied in the notice may result in -
accekratioa of the sums secured bt Ihis ~lortRage. forecknure he 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 proceeding
the non-e~istenc•: of a defauN or ant other defense of Borrower to acceleration and foreclowre. if the breach is not cured on
or before the date specified is the notice. Lender at (,ender
s option mad declare aB of the sums secured M• this Mortgage to 6e
imlmediatelt~ title and patabk without further demand and rrrat forecMse ibis NortRage by judicial proceeding. [.ender shall
be entitled to collect in such proceediltR aN.e>tpeases of forecbsure. including, but not limited to, reasonable attorney's fees.
and costs of docnttteatan• es ideoce, abstracts and title reports. j
19. Borrower's Right to Reinstate. ~rtwithctandine Len.lcr•s acceleration of the sums secured by this Mortgage. •
Borrower shall have the right to have am~ proceedings hceun M• Lender tl+ enforce stets 1lortgagC discontinued at any time
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