The URL can be used to link to this page

Home My WebLink About2501. . ~ ~ ti'- I.rnJrr'c wnucn agrcrmc~~t or appl~~ablc I~w. Bo~rawcr shall pay ~he amoun~ at all mc~-tgagt in~urance premiums in Ihe manncr pruvidcd undcr paraRraph 2 herco(. Any amauntc di~hurcrd by Lrn~lcr pur~uam lu Ihis patag~aph 7. wi~h ~ntcrcv Ihereon. chall hecome add~~ianal inJrM~dn~cc uf Hurmwcr Kcurcd hy ~hi~ Mungage Unk« Ho~ruwer anJ 1 enJrr agrce .ip dhet (~[~[ ~( ~+ayment, such am~~untc ~hall hc payaMc nM~n n~uicc fr~~m 1 rnde~ ~a &xruwrr reyue~ting paymcnt lhcrei+f, anJ sha~l bea~ iotetest from the da~e ~~( di.burtrment a1 ~he ratc payahlc frum limc to time ~~~ aus~anding principa) under the Nate unlett payme~t ot interest at such ratc woul~l be cun~rarv ii~ applicablc law, in wfiich evem cuch amounts chall hea~ interest at the hi6hest rate permiuible under applicabk law. Nulhing c~~n~ained ~n lhi~ paragraph 7 chall require I.cnde~ to incur any expense o~ takt any action hereunder. S. Iwspection. I.c~Jcr may makc ~•~ cai~.c ~o F+c made reaccxubk en~riec upon a~d inspeclions of the Propertp, provided that l.coder shall givc Bu~rowcr ni~licc priu~ ~i~ any wch inspect~on specifymg rcasonabk cause therefor relatod to l~er~der's ~nterest in thc Propetly. 9. Cosdemnation. Thc prcutcdc of any award a~ claim for damagcs, diroct or consequential, in connectioo ~vith a~y condemnation or other taking at the Propehy, or part tAercot, or tor cooveya~ce io lieu ot condemnatioo, are he~eby usi~ned a~d shall be paid to Lender. . In ~he event of s total taking of the Proper~y. ~he proceeds chall be applied to the sums securcd by this Mortaa6e. with the excess, if any, paid to Borrower. In the event of a partial Iaking o( the Property, unkss Borrower and Lender otherwise agree in writing. therc shall be applied to ~he sumc securcd by this Mongage such proportion of the proceeds as is equa) to that proportion which ~he amount of the sumc secured by this MoAgage immediately priar to the date ot taking bears to the fair market valuc of ~hc Pm~xrty ~mnxdiately priar to the date o( ~aking. with the balanct ot the proceeds paid to Borrowe~. ~ I( the Property i~ abandancd bv Borrowcr. or if after no~ice by I_ender to Born+wer that the rnndemnor oBen to make an award or Settle a claim (or d~maGC~_ B~rr~vver fa~l. to rec~nd to I.ender wilhin i0 days atter the date such notict is mailed. I.ender ic aulhori~rd to coltec~ and appl~~ ~hc prc+cceds. at l.ender's c~-tion, either to restoration or repair ot the Propcrty or to the Sum~ ucured M• thiti Mortgagc ~lnlesc I.ender and Borrower otheniviu agrce in wriUnF. any such application of procaeds to principal shall not ettttnd or pcxtpc~ne thc due date of thc monthl~ installmcnt: rcterred ta in paraRraphs 1 and 2 her+tof or thanae the amaint ot ~uch installments. 10. lbrrower Not Rekased. Fxtencion of the time (or payment or mc~dification ot amortization of the sums socured by this Mon~tage gnnted by I.ender Io any cuccetsor in intereu of Borrower chall not opente to rckase. in any manner. the liability af the original Bonower and Bc-rrower i success.~rc in interest. l.ender shall not be rcquired ta commence proceedings againct u~ch successor or nfuse to e~etend Iime for payment or otherwiu modify amortizat~on ot thr sums urured hy Ihic Mortgage by rcau~n of any demand made by Ihe ~orieinal Borrower and Borrower s successors in interecl. 11. Forbearance by I,~nder NM s Wsiver. Any forhearance by I.ender in e~ercising any right or remedy hera~nde~, or other~vise afforded by applicable law, shall ni~~ he a waiver ot or preclude the eacercise of any such right or remedp. The p~ocurement of insurance or the payment of taxes or other liens or charges by [_ender chall nd be a waiver of Lender's righl to accelerate the maturity of the indebtednecs cecurcd hy thic Mortgage. 12. Remedies Cumulsti~e. All rcmedies provided in this Morlgage arc distinct and cumulative to any o~her risht or rcmedy unde~ this Mortgage or aBorded hy law or equi~y. and may be eaerciud concurrcntly. independently or successivtly. ~ 13. Successors and Assi~ns Bound; .Joiat sad Sereral i.Lbility; Cspfbns. The covenants and agreements hercin contained shall hind, and the riRhts hereunder shall imire to. the rcspective successon and assigns of Cender a~d Borrower. subject ~to the provisionc oi paragraph 17 hereof. All covenants and agreements of Borrower shall be ~ary and sevenl. The captions and headingc of the paragraphc of ~his Mortgage are for conveoieoce only and arc not to be us~ed to interprct or de6ne the provicions hereof. 14. Notke. Except for any not~cc rcquired under applicable law• to be given in another manner. (al any notice to Borrower pr~ovided for in this Mortga¢e shall be given by mailing cuch notice by certitied mail addressed to Borrower at the PropeAy Address or at such aher address as Borrower mav decignate by no~ice to I.ender as provided herein. and (b) any nolice to Lender shap he given by cenified mail_ retum rece~pt requesled. ~a t ender s addrecs suted herein or to such o~her address as I.ender may de~ignate by n~tice tu Sorrc.weras pro.~ded hercin. Any notice provided for in this Mortgage shall be deemed ~o havc f+een R~ven to B~rrowcr or I.ender w•hen given in ~he manner designated herein. IS. Unitorm MortRa~e: Governin~ i.aw; Se••erability. This torm of mortgage combincs imiform covenants tor national use and non-unitorm cavenan~c with IimiteJ var~alione hy juncdiction to consdtute a unifo[m security instrument rnverena rcal property. "I?iic Mortgage shall be governed hv tht law of tF~e jurisdiction ~n which Ihe PropeAy is located. in the evenl that aoy provision or clau~e of thi~ M~rtgage ~r the Note ronflicts with applicabk law, such conflic~ shall no1 affott olher provisions of Ihis Morlgage or the N~tr µh~ch can t+e grven eBect without the conflicting provicion, and to this end the provisions ot Ihe Mortgage and ~hc 'Vote are Jcclared to be xverahle. 16. Eorror-ePs Copy. Borrower ~hall t~c turniehed a conformed copy o( the Nott and of this Mortgage at the time of execution ar after recordation hereof_ 17. Tnuster of t6e Property: Atsump~ion. If all or any part of the Propeny or an intercst therein ic sold or transterred by Borrower without Lender's pnc.r ..r~~~.•n ~onsem. excluding lal the creation of a lien or encombra~ce subordinate to th~s Mortgage. Ib1 the creat~on of a ~ur~h~ae m~~nev eecuri~y ~nterest for houxhold appliances. (c) a trancft~ hv devise. descent or by operation of lave upon the Jca~h o( a jo~n~ tenant or (d1 tht grant ot any leasehc~ld interest o( thrce ycars or kss not containing an option to purchase. I.enJer may. at I.ender i opt~on. decl~rc all ~he sums secured by this Mortgage to be ~mmediately due arsd payable. I.ender chall h~~e vr.~~ved such .-p~~on to accrlerate if. prior to ~he vle or trans(er. Lender and the person to whom ~he Property i+ w t+c .oW or ~ransterred reach agre~mtnt in wn~ing that the credit of euch person is satisfactory to I.enJer and tha~ the interr.~ p~yable on the sums secured by thic Mortgage shall be at such rate ac Lender shall request. If !_ender has waived the opt~on to acceler~te provided in this paragraph 17, and if Borrower'> >uccessor in interest has exuuted a wntten assump~~on agreemem acceptcd in wri~ing by l~nder. Lender shall release Borrower f~om all obligat~ons under this Mor~gage and thc Note. It Lender exercius such opt~on ~~~ accelerate. I.enJer .hall mail BorroK•er notice of accderation in accordanc. N~~h paragraph 14 hereof. Such not~ce ~hall prov~de a period of no~ less ~ban 30 days from the date the notice is mailed wi~hin which Borrower may pay the sums derlareJ due. I( Bonower (ails to pay such sums ptior to the txpint~on e.t wch penod. Lender may, w~thout (urther no~ict or Jemand on Horrower. ~nvoke any ~ert-edits permit~ed by pang~aph IR hercot. NON-UNIFORM COVENANTS Borrower and l_ender turther covenant and aaret u follaMrs: 18. Accekralba: Remedks. E:cep as prnrided iw para~~ 17 bered. rpo~ Sorro~+ers br~acA of a~y co~ew~t or a~reemeat ot Eorrower in thk Mort~aRe. Iacludiu~ the co~ewsats to psy wbew doe s~p s~ms stc~na br tl~ts Mo~aRt, l.ewier prior /o stcekrsNon shdl majl notice !o doROwt~ as prorided fn pars~tap6 14 Aerco( steti(yiu~: (1) tbe beescA: /21 tAe setbw t~tqulred fo core soch bresch;l3) a date. sot kss tbsn 30 days trom the date the ~otke b a~kd lo dorra..er. by ~*AkA sre~ b~each muri be cond: and (I) IAsf tailun to c~re srcb b-cacM ow or betore IAc date s~cCiicd iw t~ ~k~ ~y ~~ ~ sccekration of tbe soms secnred by thfs MortRaRe. ~o~eclos~n by jodkial /rocetdhi ~ sale ot ~1K h°~e't~'• 71~e wolkt shdl fuAher in(orm dorro~+er ot tbe riRM lo reiesfste dler sccekrstio~ awd tbe ri~t to a~t~t h tUe foretlesrre Moeee~ tbe non-e:isltece ot ~ detsuM or any olher detense oI Eorrower to atcekrstba sw/ tortclos~re• 11 tl~t bresc~ b~ot c~re~ o~ or betore the dste specifitd ia lhe notice. l.ender at I.endt~'s o~tio~ ~ Ieel~e ~ ot the s~wu s~es+'rd bp t~b M°AR~e ~° k immedi~ttly due ind psysble without fu~7her demanA and may foretlose tb4 Mo~a~e ~ j~ikbl /~oeetdl~- I.en~ler ~AaN be tstiNed to collett fa srch proceedi~ all e:penses of fonclosrro. Mclydia~. brt ~ot Ya~td t~. reasowsbk stt~~rney's fees. •IId QpSLf O( ~YIqt11I~ tr~lflCt. sbstrsctc and ~itk rcports. • 19. Dorrn~+er's RI~h1 fo Reiastate. No~with~~rnd~ny, 1 ender s atcelerat~on of tht ~ufii ucured by ~h~c Mort6ate. Borrower shall have the nghl to havc any prckcrd~nc~ 1~rf~~~~ b> Lcnder to cnt~rce thn Mt-rtgap~e d~~contmutd at an~ ume ~,~~X . ~ ~34s Pa~Ez49?