HomeMy WebLinkAbout09091 rrnicr's w~,ttrn .igrcrmen~ .v applwaMe lav- ~~rr.•wrr shafi pa} tMe am.x~nt uf ~II moNgage incur:,nre premiums in thc
m:nrxr pr.~~,dc.i undcr ~arag~aph ? hcmuf
Am• am~•~~nts d~titx~rsed b~- I.cn.kr pur.a~ant ta this ~uragraph 7. w,th intrrcst Ihereon, shall becomc addiliona)
indtbttd~cst .~f BcKro+-t~ sccund h~ th~t ~/ong~g~ l"nk.. &~r~uv-er anJ 1 en~ler agnti M othrr termc of pavment, ~uch
amounis ahall he N~aMt up~n n.vwr fn.m ! zndtr t.~ B.~rn~Mrr rryur,tin¢ p~ymcnt thereaf. and ~hal) F+ear intcrest from the
~i.ite of dict+unctncot u tht ntc pa~-shk tr.•m time t.• t~me .•n oin~tandinR principal under the Note unlecc payment of
interett at sucl~ nte wcwid h:cx~tran• ta a~+pfe:abk i~u. ~n wh~ch evrnt cuch amounts shall hear interect at the highest rate
ptrmiss~~t~k ur~der aM+lKabk law ~.~thin f a~nt~ineai ~n thi~ paragraph ~ chall requirc I_ender to incur any eYpenu or lake
am• artion hcrcur~der_
•. I~erii~a. 1 en.ltr ma~~ ma-c .~r ;ause to F+z m~.k rra..xeaF+lr emriec ur+on ~nd in~pection~ of the Property, provided
th:t 1 en3er shall gi~r &~rrov-cr n.~w,c pri..r to an~ uwh ~nc~ti.~n s~ifying rras.~nabk cause therefur related to I_ender's
~nltrect in tht Propertv.
9. forew~a~io~. Tht pr.~c+ed~ ~~( sm- awsrd o- ~la,m for Jama¢~~s. direct or con~equ~ntial, in connection with any
.ondemnaticu~ a~r dhtr talin3[ c~f the Pr~•~trt~_ :~r ~+art thtrr.-f_ .w h~r con~e}ance in lieu of condemnati~, are hereby ascigned
~rxi sh.ll he pa,d to t.ender.
In thc e.rm c.f s taal ul~r-= of [hr Pr.•~m. thr pr.~.erak .hall he applint t~, ~he ~umc secored by thia Mortgage.
with tl~e e~cc~ss_ it am•. ~+a~d ~o B~xr.~wrr In the r.rnt .~f a p~rteal tal.ing uf tF-e Piroperty, unkcc Ei~rrower and Lender
rnherv-iie a~rs+t in ar;tin~. there shall !-r apE+l~al to tht +umt x*currJ b}~ thi~ htort~age cuch proportion of the proceeds
:fi K~UiI ~(~ !}I~l ~Ma~}f~`!IKV1 whirh ~l~r am.x-ne of ~hr sum~ ,rrured M~ thic ~lortga¢e immediately prior to ehe date af
talcin~t hean ta!he fair ma~let ~alue.+.~ tht Pn•~_-r.~ rmmr.3:.,tet~~ priw t~ the Jate ~f taking. with the balanrc of the proceeds
paid t., Borm~-rr.
If tl~t Prc~pert~ is atundnsntii t+~~ B.~rr.,•wrr_ ~~r if. sftrr n.Kice h~ I encier to Borrower that the condemnor offers to makt
rn axard or scitk a di~m fc~r ~Lm:Qr+_ &•rr.wrr fa+i. r.. r~-,~~rxf t.~ 1 ernicr within z0 da}•s after the date such notice is
m3~kd. lrnder iz autl~orixd ~~ cnik.-t and apply thr ~sr~:c~is. at ! erxltr s opticm. either to rectoraticx~ ar rcpair of_ tFK
Propcr» or to tht wms sc~ur+c+d h~ ~hes ~lott~ - --- -
----- l~n~es~ t_ersd[t"and B.~ri.•+.rr c~thtr..,:r a~rer :n uritint. am ui.h applicatirn rf proceedc to pri~cipa) thall not extend
ar pc.vpc~ne the duc .Lit~ .~f thc mcx~~hl. inuallrnrsstt refrrrrd ta in p~ragraphs I and 2 hereof or change the amount of
such mu3lttne~nts_
' I~. ~otnow~ ~ot Reka~l F~tn-w~n ~~f tht t~mr f.~r Et-~mrnt or modifiration of amortization of the sums ucured
b~• th~s tiortg~re grante+d b~ I cnJcr to am w:cYCS.•r ~rt i~trrrct uf Bc-rrowzr ~h~ll not operate tu release. in any manner.
tFx liafiilit~ rf the c~rigirul B~mrcwrr .,~ed B.~rrcwer ~ iiacr:..~r. in intere;t. ~LcnJer shall nut be requircd to Commenee
pn•cYedings against w;h we.~scx ..r ref-e~t [o e~tenS r,me f.~r Ersyrt~nt or otherv-ise modify amortization of the sums
~e:ured h~ thit ~lcxtFa~e 1•.- rcas.~ ..f .~n. drmanJ m~slr h~ t}x ori¢inal Borrov-~er rnd Borrowers succetu~rs in interest.
~1. Fo~ieata~ct i~ l.e~er ~d a R"ai~er. ~n~ f~~rt+rara:-~r h~~ ! rnder in eyercisine anv right or remedy hereunder. or
caherw•ise afforded M~~UIK'3Mt I3M'_ SI1dI) n.K tY a wai<<r .•f or preclude the erercise of am~ such right or remedy_
77x procurcmcnt of imuran~~e or the pa~mcm .•f c~.~~ .~r ~.thrr [~ent .x charerc by l.ender ~ha~! nM F~e a waiver of I.ender s
riEht t.~ xcckratr the maturin .~f the ~ndehtrdr~c ~:umi h~ thi~ ~fort¢a¢e.
12. Re~ed'ics C~tire. All remal~tc nr.~.~ckd m thic liortga~re are distinet and rum~dative to any other right or
remaf~ under this i~ortga~er.~r afl.•cdrd M- lav- .~r ryu~n. .,nd m:e~ hr r•ercix.i concurrcntly. independenth~ or succeaively.
13- S~cc~ssa~s a~i ~v~as io~~ Joi~~ a~d Se~~ral t_i~t}: ('apioes. The covenants and •rgreements herein
conuined c3~a11 bmd. and tiK riEhes herrunder shall +nure ta_ ~he re;~ti~•e uKCe.~.~rs and astigns of t_ender ~nd Borrower.
subject to tt~c {xo~isic~n~ of psragr~ph. [? htrr.~f ~11 ;i~ren~nts anJ a¢reement~ nf Borrower shall be j~~int and uveral.
The captK•m :.nd hea:f,n~t+ of the paragraphc ..~ thn ~tortgs~ are f~~r convenience only anJ ar+e n~~t to he. used to
~nterpre[ cx define the E-ro»iicwn here+of.
14. ~otice. E~cept (or int not~~e r~~tirrd un.lrr appli~abk law t.• be ¢iven in another manner. fa) any notice to
Bnnovitr protiidcd for cn th"re ~1c~rteaer ~a!! hc ¢~~rn h~ masiin¢ cu~h noucr ht~ ~ertified mail addrec~d to Borrower at
the Prop~em• !~~elress a~r at wch .xisrr .aaidrr.. as B.~rr~.wer ma~ dec~gn~tr b~ nutice to I.encier as provided herein. and
Ih- an• nMice to Lrn3er =}~11 ht e~•rR h: ~Yrt~fie,f rtuel. rrtum r~e~pt requected. to 1 encler ~ addresc siated herein or to
«~ch othcr address as Iendrr ma~ dr~seYnatc h~ rwu~_r t.~ &~rr~.wer as Pro~ided hrrein. Any notiL.-c provided for in this
~1orlgagc sh~ll bt doCtrKd fo hatic bticr e~~tn to &~rrvv-tr ..r 1 rndet r.hen gicen in the manner decignated herein.
1S. L'~for~ No~e: Goser~ I~w: Se•era~Tit~. Th~t f.~rm of mortgage rombines uniform covenants for national
tiY ai1t~ tk~f-ilfllfi~7ii! C~»ts~~ilit Nith sim~red :df~dttaNl+ fs~ ~t~r~~i~t+.K1 [~~ it~rtSl~ItttC 2 UIIIfORl1 SCl'tlf~lY instrument covering
mal prc.pcm. Thrt ~long~r sh:lf he t~•;rrrszd h~ ttx !sw ~,f the iuris.iicti~~n ~n which the Propertp it I~xated. In the
eti•ent that am pr.~+!sx~n or ;laa.se .~f th"rc ttart¢ire ~•r the \.~tr ~~•nRi:tc uith applicahk law. such conflict chall not affect
c~ther pr.•.~sic•n. ~~f th~c 1lortg~e nr thr ~.~tr wh~~h ;.~n hr ¢~-en efie~t v~i±huut she conflicting prc~vi~ion, and to ihis
end the pri•~icions of thc \~c~rtgagr an.i the ~.~e arr .t~~{~red t~~ hr severahle.
14 fonswds Cola. Barnn+rr ~hall k furn~~Frrd ~..~nf~~rrtxd cop}~ of the `otr and of thic Mortgage at the time
u! csccuticxi c+r ~ttcr r+nordati.~n hereof_
17. Tra~ster ef tk Tr+o'ests: ~ys~r~tio~. If aN ~~r ~n~ p..rt of the Propern• ~~r an intcrect therein ic sold or trancferred
bc Bortrn-er w~tt-~.ut Lcnder's pfMf v-TIIIC7 co~ntnt. r~:~udlnY i~~ thr crration of a lien or encumhrance sutiordinate to
this 1l~tirtgagt_ ~b) tht rreaticx~ ot a pur.hiir m.,nrs ;r~urin ~nterest for houxhold appliances. Ic) a transfer by devise,
deticrnt or M- opcraticKt of law up.~ the .lcath ~~f .- i.unt ~~nant ~~r 1d~ the grant o( ant~ lessehold interest of three yeart or less
rn-t cont~ininF ~n t-pti~~n tn purih~e_ i cncitr m~~. at I ender'~ ..pt~.~n. declare a!1 the cums secured by this Mortgage to he
~mmcdi.tch due and pa~~~bk LtOd[f SFNII fi3~~ N3t~t~ u~ch .,ption to arrelerate if. pri~r to the tale or transfer_ I.ender
arx~ the perscn to v-hc~m ttie Propern is t.• I+c sc~1J .x trsnsferred rcxh ~greerr~nt in writing that the credit of sueh person
!c setisf~cton to Itn3cr and ttur thc intere;t pa}able on the wm, x-tured hy this Nort¢age chall be at such rate as I_ender
shall rrqucst tf t_rnder has aa~~ai thc opch•n to a.ctirr,tc pr~wiclr~i in this para¢raph 17. and if Borrower'.s successor in
~ntucst ha~ exerutcd a xnttto sssumpr~o~ agreerntnt ~:cepttd in wret~ng hy LenJer. t_ender shall release Borrower from all
obl~guicx~s under this INcxtgage and thc ~ott
If Lender txttcexs sarh .~ptK~n te~ xcckr.,te_ 1 rn.irr .i-~il mail Bcxrower notice of xceleration in accordance with
paragraph 14 herrnf. Su~-fi nouce ~haU ~+ror~de a pc:e~~i c~f r..x lest thao ?n da}•s frcxn ~he date the notice is mailed within
N~1KF1 BD~f~~tF iil]\' ~~' (I'tt S(!!TK ~ti;~re.l due If &`RVMZf Id1IS :o pa} su.h ci~ms prior to the e~piration ~f Such period.
Lerxicr m.}•. w,ttx~ut funhrr naece .?r eicrrund c~n Ei.~rn•Wtr. imole am remedies permrtteci by paragraph 18 hereof_
!~o~-~~~FORH Co~~~~~-TS Borrcwe~ and t_crnier furtt~er covemnt and agree as follows:
1f- Accdera~a~ Re~er'ies E=a~t as ~rosi~er i Ara~ra~i 17 bereof. ~o~ Eo~rowtr's bresc~ of asy rnrensst or
alCree~e~t of ion~.rer i~ ttiis ~f~t~a~e. i~c~i~,~ t4 co~e~a~fs to p~ wbew Ae a~Y su~s sea~red ~y t6is Mort6sRe, Leader
prier N sccdesabie~ s~ai ~~s~ce t~ ~or*ower a~iier 's rra~ra*U 14 ber~eof s'eci~~g: (1) tl~e brescb: (2) tre actbn
re~ir~i b c~re ssc~ i~esck (31 s~e. Nt kss ~ 3~ >a~s fro~ tic iate tl~e wotice is ea~ea to Eorrowet. by wWc6 sech.
bresci ~d re c~rr~ a^i 1~- trat fa'ioe te c~re s~cl~ 4exb o~ ar befote tUe d~te s'eccfied b tbe sotice msy resek ia
sceele.a~io..t be s~s sec~r/ r? t4s ~rw,~,~e. r.recbs..e r~ j~ic:al ~roceedi~ aoa sale ot cue r.operty. 7be ootke
s~ f~rtrer idors M~»ser d ttie ri~Y ts reiastsle af~er scceieratio~ a~i tie ri~t to aesert i~ tf~e fo~tcla~srre proeeediw`
trc ~ore:6tcsc~e d a ~dai or ss ~trer ie~e~se of to~rower Io scceleratiow awa fortciosere. N tre breseb is aot cmd oe
or be(ore tre ~ale steciie> i t~e ~otic~ I.es~er a~ I.csier's opio~ ~~cc6re a~ d tre s'as sec~rtd br t6is Mort~t to 6e
io~eiiatd} i~e ar p~aYt wil~t f~t~ ~ewsd ar ~aY toreclo6t lils No~a~e bY j~dicial ~oceedinR. Lender sball
be e~tidc> ~o caieet-: s~i ~ceeii~ a~ e~~e.ses ot t«rctos..~. :caanig, b~t :ot ii.ild eo, rra~o.sble attor.eys tea,
a~d cesls d~ e~i~esre. aiRtracis a~i oNe rep~ls.
/~. brrowers Ri¢I 1~ Reastate. \otrithuar.ding [_en.Eer ~ accelerat~on of the sums xcured by this Mortgage.
Borrowtr sh.ll ha~c the ngi~t t~ ha~-e im prc~cedrngs herun h~ I.ender tn enfo:ie th~s ~tortFtage discontinued at ~ny time
~ :`~ 347 p~~ 906
6 ~
6
Y - _ ~
~
` ~~ _ . . .;, _ .
_ ~ ~'.. Y':s~Y_Sc-a~ ±JY.R :?2e..a`? 2 - -. . . . : ' . x__-"T'+<k .