HomeMy WebLinkAbout0068 cooler'. t+nttrn ag«rntent ar apph:ahlr haw. Itt+rrawer shall pad she am.auu of .JI marl~aLe imur.,n;e prrmturn, n the
manner pn+vukJ under p;tragraph ' hr« W
Atn• :unaatnh tli.hur+rJ hx• I rnJrr pur,u..nt ta+ this p.?r.?gr,tph ts~th ?Otr«st the«a+l~~ t:A.dl F+c;.+mr aJJ~r,aat.?1
inalrhtralnr,s R.+rn+wrr .reared by this ~tart~aee l'nle., Rt+rrt+t+rr once) 1 rna~r fagrrr tr nrh~`r trrm~ .+t pavrtta•nt. ~etck
:umautts :h:dl l,r p;tyahlr ulw~n ntai;r front 1 coder ta+ R.+rra+w:r reyue,tinL p:acrnrnt th~rra+t. aoa! .h.t!I !+rar interest fr.am the
J:de of Jishur+ement a1 the rdr p:at;thlr tram time to trine .+n uutstandine princip.rl under the \a+tr ante., pa~m.ent of
itttcrr+t :tt ttth rate tctntht he ct~nfr;trv to ;tppli;:ahle ice.+. in sthich r+•rnt +tttih am+~unts ,hall hea• irt!e•e,' :rr the h:ghrat tart
prrnris+ihlr undcr applicahle L•tt~. \athing contained in This paragraph 7 .hall require 1 ender to ;near am expense or take
anv action hr«undcr.
R. Inspection. Lender may ma{.r t,r cause to I+r m:aJe rrasonahlr emrirs atpa+n and tnsptaaia+n, of the Pr.,ptrty. pra,•.ialtal
that I enJcr .hall give Ra+rmwer notice prior tts am• arch inspictia•n +ptcif)tng «asa,nahle ;.ut,r thrreta+r retatrd t., 1 rnJtr"s f
mtrrrst in the Property.
9. ('ondemnation. Thr pracrcds a+f :u?y award or claim for damages, ttintt ar caat.cyttential in ~a+nntctia,n with once
cunJemnatiun .,r other taking of the Pn,prrty. or part thereof. or for amveyance in lira of candemr,ati.+n. art ntrehc a„i~rxd
anal ,hall h paid to Lender. -
In the event of a total taking of the Property. [he pn,ceealc .hall F+e applied! t,+ the ,am. +r;nrrd by rhi. Na+rtg.?~.
with the r+crss. if am•. paid n, Born+wrr In the went of a partial takint .,f the Pmt+etts. ttrk" Rarmt.er .and I enJrr
utherwisr ag«e in syritint•. there ,hall t,e applieJ to the wore srcrr«tl by rhi, ~1a,rte.age su:h prapa+rti.+n .+f the c,rartetis
as i+ cyual to that proportion which the amount of the some soured by this ~lartgastt immrJiatrh pna,r ro the Jate of
taking Ixar+ to the fair market valor: of the Prupertc immediateh~ prior to the at.ate of rding_ with the hatan.r .,f the prt~~.k
paid h, Bornwcr.
if the Property is ahandoneJ M Barn.wer. or if. after na,ticr M• 1 rndcr tt, B.+rra,tttr that ;hr condemna,r rfirn to make
an award ar +rtlk a claim for J;ut:at:;s. Ba,rraw•er fails h+ rrsprnd a+ 1 rndcr within sn daxs after the date ,uch na+ri:e is
mailer!. !.coder i+ authorised to rt.llect and apple the pra,crrJs. at 1 rndcr; option. tither to rest:,ration ar repair a~f the
Pr(,pt:l~- .ar ta, the atlrft, ,rl'ttrttil h~- t(.iti !~f(+rro.~ae
L'nlcsc I ender :end Borrower othrnvisr :rg«r in taritin~•. ant >u;h appli;atirn a,f pct*_cti-ds t., prin.ir.al ~h.?il n.,t rvterxi
ar postiNUte the due Jade of the moMhh installments rtferrrd to in paragraph, !and ' hereof a+r cham•e the am..+unt of
,uch in+tal6ttent+_
iU. Borrower tiot Released. 1?xtension of the time far patmrnt or mtdificatia~n of amartiiat:an rf the .nm, stiurv~a!
by rhi+ :~fartga¢e gr.?ntcd M' l ender to ant• sttrces+t~r in interest of Rormwcr ,hall nM operate ta, release. in am manner_
the liahilitc of the original Bormwcr and &,rntwer's succrssa.rs in interest. 1 ender shalt oat M reyuireJ t., commertce .
proceeding. against arch +ucrrsa?r ar refuse to cxtenJ time far pa~•ntent or otherwise madih am.+rtiiatic+n :+f the sums
sea:ured M• this Mtttlgage by reasrn of am- demanJ made M the rri~:ina) Borrower anJ R.,rr..wers wc;essa,rs in interest.
11. Forbearance by Lender \ot a Waiver. :gym farl,carancr ha I rndcr in cxrr:ising :am right a,r «m~Jc hrrrnndtr_ ar
I'~ athrrw•i+r atTardeJ M• applicahle law•. ch:Jl not Ix :r waiyrr of ar prpcludr; the exercise of am ,uch right a.r rtrnedv
Thr procurement of insurance or the payment of taxis ar a+ther liem atrr:hargafl h} i rndcr ,hall not hr :a u.arce.? a+f i en.kr s
right h, accelerate the maturity of the indehtedness sr_u«d h+ rhi. ~Ibrtgage.
12. Remedies ('umulative. ,VI «metlirs pmt iJrd in rhi, ~lartgagr arc t i;tinct anJ cumulative to arts .+thrr right ar
remedy undcr rhi+'llartgagr ar affardrd M~ lain ..r ryuitt.:mJ mat I+r'txrrci,ra~ca.ncurrrnth. inJtpenJentlt au ,~t:,r•,iveh
13. Successors and Assigns Brnrnd; Joint and Se~erol Liabilih: faptiotts The covenants and a_rrtmtnt. h:rtin
contained shall hind. and th_ riehn hrrcundcr shall inure h,. the rcspeaise utccrssan a~tJ ascigrn a,f Len.irr .,:rJ B.+rrautr_
suhjrct to the provisions of paraagraph 17 hereof. :III c~,vrnants anJ aLrcrmrnts of &~rranctr shall he !++~nt .:r,J k=teal.
The caption, anJ headings of the paragraphs of this Stort~~a~~r air fa.r convenience 'soh anJ are rwK ta+ M crsetl to
interpret or define the: pmvician+ hert:of.
ld. \otice. Except tot' am• notice «yuirrd under applicahlr law ta+ I,t givefi in once+thtr manner. tat ;anv n0[ice tas
Burrower provided fur in this \iortgage shall I,e given M~ mailing ,u;h na+uce by ;rrtfieJ retail addrts,CJ to Barra•..er u
the Pralxrty Address ate at wch other addresC as Ra+rn+wrr m:at JrsiLn.ttr hr n++ri;r h+ 1 enter pra•tidrJ herein. ant
Ihl am nutlet to I.endrr ;hall he given by certified mail. return receipt rcyursh•J. t++ 1 enattr'~ adatrtss st.?reJ herein air to
such athrr address as Lender may Jrsignate by notice to &,rra+wer as pratiJrJ hrrctn. \nc naticr pea+viJr.l fa,r in this
~tartgage shall I,e deemed to have hero given to Rorrruer ter I rndcr wh,n given in the mariner dtsignatrJ herein.
I5. i'niform Siorlgage: Governing! Law: Se+errbilih. This farm .+f mort~~a_+r _amhints uniform covenants f.~r natia,tul
use and non-uniform covenants with IimitrJ variaUans hs ~ttn,.h;ti.+n ta+ ;a+mtiude a uniform security inssrnm~nt covering
real prog,rrn. This \lorteage shall i,e gustrneJ by the law a+f the iurisait;na+n ;n which the Pra.ptm i, la+a:ata:d in the
ever.! that an)~ provision ar clau,e of rhi, ~tonLagr ar the ~~+te ca+ntTi.h •.+ith applicahlt law. ,u;h ~.+nt!rcr -hall na,t affect
other pea+vtsions of Ihi? 1lartgage or the \a+M tahr;h ;an i,r ~,nrn rtfr;t aloha+nt the ~.+nfli;rimy proLtHOn. cent to this
end the pn.cisions of the ~lartgage and the \a+tr art a1,clarrJ ta• hr ,rverahlr.
16. Borrower s ('opt. Borrower shall F,e furni.hr.t a ca+nfa+rmrJ copy of the ~atr .tnJ of thes ~tartYagt at the time
of execution ar after rccardation hereof.
17. Transfer of the Pnrperl~; Assumption. If ail a+r :ar:+ hart of the Property or an interest therein t< ,.+id ar tran,ftrreJ
by Rurruwrr ttithoui 1_rndrr s prior written :onsent_ r+;iuding a.u the creation of a iirn t+r rncnrnhran.e suinuraiutair r.*
this ~fortgagr. Ihi the creation of purchase nwnrt srcurits rntrrrst far ha,usrholJ appliancrs_ tc! .a tramfer by alevise.
descent ar by operation of laaa upon the Jeath a+t .a is+,ut t.nant .+r t,i? the grant a,f .am Irasrhoid interest a+t rhrcti year, aN less
not containing an apiion to purrhasr. 1 rndcr max.::: I rndcr', a+pnon. declare all the win, sr:ured h. this ~tortcage ta, bt
nnmediatrly due and payahlr. Linder sh;dl have taawed su.-h a+pti.,n to accelerate if. pricer to the ,.ale or transfer. Len.ler
cent the peru,n to whom the Pnperty is to t,r solo! .ar tramtrrred reach :+greement rn writing that the crcJit of ,uch per.am
is sati+facton~ to Lender and that the iMrrcst payable an the arms ,reared he this ~1ort~age shall he at such rate as Lender
sh:Jl reyu•~+t. If 1 enter has wais•eJ the option to accrlrr,dr provided in this paragraph 17, and if &,rn,wtr; success.=r in
interest has executed a written assumption agrttimrnt accepted in writing h_v Lrn.kr_ Lenaler shall release Borrower from all
ohliratiam undcr thi+ ;1lortcacc and the \atc_
If 1 ender exercises wa:h option to accelerdr. I rndcr shall mail &,rrawer notice of acceleration in aca:ortiartce with
paragraph 14 hereof. Such notice .hall pr..vide a g,rriatl of oat Ics. than 3~ Jav_ s from the date the notice is mailed within
which Borrower may pas the soots declared due It Rarn,t+er fails n. pas' each sums prior to the expiration .+f such perit_d_
Lender may, without further notice a,r Jemand on Korra+tsrr. invoke am rrmtdies permatte:f M• paragraph t4 hereof.
Nom-U!vttotttit Cove~,t~7s. Borrower and I enter further rncenant and ax.« s f:,.:a~~:
iS. Acceleration; Remedies. Except as provided in paragraph 17 hereof. upon Borrower's breach of ss cosettrst ate
agtreement of Borrower in this !Mortgage. includittgt: the covenants to pay .rhea doe ao} ,arras secured by this Nortgage.lLesier
prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifyitug: f l) the 6reacb:121 tltt actioo
required to cure such breach; (3) a date. not less than 30 da}s from the date the notice is trAadei to Borrower. ti wbic~ s>•cb
breach must be cured; and (4) that failure to cure such breach on or before the dste specitd i tbt notice tttta~ tresait i
acceleration of the stints secured by this Mortgage. forcchtsure by judicial proceeding and sale of the hoperly. Tk trrtice
shall further inform Borrower of the riq;ht to reinstate after acceleration and the right to assert i. tbt foreciaswe procet~
the non-existence of a default or anv other defense of Borrower to acceleration and foreclostrrc. N the brexb is not ct.rei y
or betorc the date specified in the notice. Lender at ;.ender', option may declare aB of the strttis secured bT tbia ~feegptgtr w ire
immediately dot and payable without further demand and may foreclose this Mortgage by judicial proceedig. Lesder sbai
be entitled to collect in such proceeding all expenses of foreclosure, including. hot trout 6ttritd to reasoiable attarttttt7'tt fees.
and costs of decutnentary evidence. abstracts and Iitk reports.
19. Borrower'!: Right to Reinstate. Notwith+tanding Lentkr"+ acceleration of the sums SecutrJ by this 1~fottgaae.
Borrower shall have the right to have am proceeding. txgun M~ Lender to enforce this ~fongage discontinued at cent tune r
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