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HomeMy WebLinkAbout0218, ..ti . • ~ .` i Lenders wnUen agreement or app~~cabie iaw. Borrower shaU pay the amount of aii mortgac~ ~~ ~-ance prem~ums ~n the manner prov~ded under parag~aph 2 hereol. Any amounts d~sbursed by lender pursua~t to Ih~s paragraph 7, w~th ~nterest Ihereon. shall become add~t~onat ~ndebtedness ol Borrower secured by th~s Mortgage Unless Borrower and Lender agree to other terms of payment. such am~unts shaU be payable u~n nat~ce irom Lender to Borrower requesUng payment thereot. and shall bear interest irom lhe date of d~sbu~sement al the rate payable trom t~me to t~me on outstand~ng pnnc~pal under the Note untess paS~ment of mterest at such rate would be contrary to apphcable law m wh~ch event such amounts shalt beaE ~nterest at the h~ghest ~ate perm~ss~ble under apphcable taw. Noth~ng conta~ned ~n th~s paragraph 7 shall reqwre l,ender ro mcur any expense or take any acUOn hereunde- - 8. Inspection. Lender may make or cause to be made reasonabie entr~es upon and ~nspechons of tne Property. prov~ded that Lender shali grve Borrower nouce pnor to any such ~nspechon speaty~ng reasonabie ca~~se thereto+ reiated to lenders ~nterest ~n the Property. 9. Condemnation. The procee~s of any award or c:sim for damages. d~rect or r.onsequentia~. in connect~on w~lh any condemnation or olher tak~ng of the Property or part tnerea'. or for conveyance ~n i~eu ol condemnat~on. hereby ass~gned and shall be pa~d to Lender In the evpnt ot a total tak~ng ot the Property, the proceeds shall be appt~ed to the sums secured Dy th~s Morigage. w~th tr.e excess. ~t any pa~d !o Borro~ver !n the event ot a parl~al tak~ng ot the Property untess Borrowe~ and Lender oiherwise ag-ee ~n wnt~r~g. there snati be appi~ed to the sums secured by th~s Martgage such proport~on ol the ~roceeds as ~s equai to that propor~~on wh~ch the amount ot the sums secured by th~s Mortgage ~mmed~ately prio- to the date of tak~ng bears to Ihe la~r market va~ue ot the Property ~mmed~ateiy pr~or to the date of tak~ng. w~th the bala~ce ot the proceeds pa~d ta ihe Borrowe- If the Property ~s abandonpd Gy Borrower. or ~t. atter noUCe by Lende- to Borrower that the condemnor otfers to make ar: akv3rC Or se?t!e a c!a,!^ tor ~+amages Borrower ta~is ro respond ro Lender w~th~n 30 days afier the date such nohce ~s ma~~ed. lender ~s author~led to collect and apply the proceeds. at Lender's opt~on. e~ther to restoradon or repau ol the ProQerty ~~ to the sums secured by th~s Mortgage Uniess Lender and Borrower othenv~se agree ~n wnt~ng. ar.y such apphcahon of proceeds to prmc~pal shall not extend or postpone the due date ot the monthly ~nstailments reterred to ~n paragraphs 1 and 2 nereof or change the amount ot Such instalimenis. 1 O. Borrower Not Released. E xtens~on ot the t~me for payment or mod~f~cat~on of amo~t~zat~on of the sums secured h~~ th~s Mortgage granted by Lender to any successor ~n +nteresf ot Borrower shall not operate to release. ~n any manner. tre ~~ab~iity of ihe or~y~nai Borrower and Borrc~wer s successors ~n ~nterest lender shall not be requ~red to commence proceed~ngs aga~nst such successor or refuse to extend t~me to+ payment or otherw~se mod~fy amortrzat~on of the sums sec~-ed by th~s Mortgage by reason of arry demand made by the ongrnal Borrower and 8orrowers successors ~n mte-est. 11. Forbearance by Lender Not a Waiver. Any forbearance by Lender,n exerc~s~ng any r~ght or remedy hereunder. or otherw~se a!forded by appt~cable law shalt not be a wa~ver of or prec~ude the exe-c~se o1 any such r~ghl o- remedy Tne procurement ot insurance or the payment o1 taxes or other I~ens or charges by ler:~e: shaii not be a wa~ver of LenUe~ s r~ght to acceierate the matunty ot the ~ndebtedness secured by th~s Mortgage 12. RemediesCumulstive. AI~ remed~es prov~ded ~n th~s Mortgage are d~sbnct and Cumulative tc any other r~ght or ~emedy under th~s M o-tgage or afforded by -aw or equ~ty. and may be exerc~sed concurrentiy ~ndependently or success~vely 13. Successors and Assigns Bound; Joint and Severai Liability; Captions. The covenants and agreements nPrein c.ontaineci sha~~ bind and the nghts hPfPUl1~Bt shaU ~n~:rP to the respect~ve successors and assigns c! ~e^de~ and 6or-ower. subiect to the prov~s~ons of paragraph t 7 he-eof All covenants and agreements oi Borrower shatl be ~c,~nt and several The caphons and head~ngs of the paragraphs ot th~s Martgage are fo- coven~ence on~y and a-e not to be used to ~nterpret or det~ne the prov~s~ons he~eof 14. Notice. Except'or any not~ce requ~red unde- appl~cable law to be g~ven ~n another manner. ia) any not~ce to Borrowe- prov~ded for ~n th~s Mortgage shall be g~ven by ma~I~ng such not~ce by cerhf~ed ma~l addressed to Borrower at ihe Property Address or at such othe- address as Borrower may des~gnate by not~ce to l.ender as p-ov~ded here~n. and ~b~ any not~ce to Lender shaii be g~ven by cert~f~ed ma~i. retu-n rece~pt requested. to Lender's address stated here~n or to c~~rh nlhPr a~irlrPCC ac I Pl~f}PI TaV flPCif~1la1P IlV ~1(11tfP 1(1 R(1(lAWP/ aC I)I(lV11~PlI YlP(PI-1 Anv nnti~p ~rnvirlorl fnr ~n ihic ~~+ortgage shan be deemed to have been g~ven ta Borrewpr or Lender wh~n g~ven ~n the manner des~gr.ated here~n 15. Uniform Mortgage; Governing Law; Severability. This torm of mortgage c~mb~nes uniform covenants for ~a?~~na' use an~i non-,in~torm covGna^tS :v~i~~, i:^,~~inr, ;~n.i!~~n5 hy ;unSCiiCt+~n tn ConStiitite a,in~form secunt}• ~nsirument -~,•:ennc~ re~,! (ltOpf'~iy Thf' S'd1~ ~!1r1 I~;;.a d:•1S d;ip!~ca:;~c~ M!h~c U~ir!c~ag~~ 5!'~i! C;a~ ;he 1~~~75 O} !hE' IUfISCjIC~~r~fl I~~ '.Yhl: h •"P P•"DF'~T. ic '~r'diF'C~ jhf> rr)~PC7~,E~~~ Sf•ntP~r.f ~h~3•i nnt ~~m~t the il7j~iir'~I)11~1'~ Gt if'!1f?i<i~ `:i.Y 1'; 1h:S ~"Oi?C~d~E ~n jhPE'.VF•••r "'~1 a'1'y' I'i'O. ~~~~i^ n! Ci%~U~t? r~~ r~,t5 ~~^~~''~I<i:~P n• 1hp ~ J^IP ~rr.fliGT~ `.:!th <~(1C)!~f,~:;fP !d~Y SUCh, Cn!?1!IC'! ShZI'' ^n': ~3~fP~1 ~~!hF?~ ;:%nltS~Q^S nf'hi5 ~J1n~',C3~i~l~> ~,! !hF P.~r,ir~ :~•~,• h:~;•~ hn c7;r~,n pft~~i :Yith~~~:~ mr ~,r;.~r,:r,'~!~C) (YCi~:r~ir~!~ ii~rl'~; ?",S P~':'!":n ;~~~n•.:~s,nns o} 1h~ "J!nrtg:ig~ ;i^~: r~f, ~.~~,?F~ .~~~~ ;lt~~;~~.F~~i ~r~ :~F ~~>v~~•~;c~!~ 16. Borrower'a Copy. Bo~rower sha11 be !urn~shed a contormed copy of tne hJote and of th~s Mortgage at the t~me of execut:on or after recordat~on hereof 17. Transfer of the Property; Assumption. It aii or any pa-t ot the Property or an ~nterest there~n ~s so~d or transfer+ed by Sorrower sr~thout lenders pr~or wntten consent exclud~ng ~a) the creat~on of a~~en or encumbrance subord~nate to th~s Mortgage. ib- the creat~~n of a pu-chase money secunty ~nterest br househo~d app!~ances Id a transfer by dev~se descent or by operat~on of iaw upon the death of a ~o~nt tenant o-1d) the g-ant of any leasehold ~nterest ot th~ee years or less not conta~nmg an ootron to pu-chase lender may. at Lender s opt:rn. decia!e aIt ihe sums secured by th~s Mortgage to be ~mmed~ateiy due and payabie Lender shai! have wa~ved such opt~on ~o acce~erate ~f pnor to the saie or transfer. Lender and the person to whom the Property ~s to be sotd or transferred reach agreement ~n wr~!~ng that the cred~t of such person ~s sat~sfacfory to Lender and that the ~nterest payable on the sums secured by th~s Mortgage shail be at such rate as Lende- shall request. If ~ender has wa~ved the oot~on to accelerate orov~ded m th~s paraoraph 17 and ~~ BorroXer's successor ~n ~nterest has executed a wr~tten assumpt~on agreementaccepted m wr~t~ng by Lender. Lender shat- reiease Borrowerfrom ali obl~gat~ons under th~s Mortgage and the Note • If Lender exerc~ses s~ch opt~on to acceterate. Lender shail ma~l Borrower not~ce of acceierat~on m accordance w~tn paragraph 14 nPreof Such nohce shall prov~de a penod of not less that 30 days from th2 date the not~ce ~s ma~led w~th~n wh~ch Borrower may pay the sums dec!ared due If Borrower fa~ls to pay such sums pr~or to the exp~rat~on ot such penod. Lender rnay. N~thout further not~ce or demand on Borrower. ~nvoke any remed~es perm~ited by paragraph 18 he-eof NOtv-UNIFORM COVENANTS Borrower and Lender fu~ther covenant and agree as fottows 18. Accelaration; Rsmadies. Except as provided in psragraph 17 hereoi, upon 8orrowe~'s breach of sny covensnt or agreeme~tof Borrower in this Mortgage~ including the covensnts to psywhen due any sums secumd by this Mortgage, Lender prior to acceleration shall mail notice to 8orrowe- as provided in parsgraph 14 hsreof specirying: ~1) the bmach; (2) the action required to cure such bresch; (3) a date. not less than 30 days irom the date the notice is mstled to Borrower, bywhich such breech mustbe cured; and(4) that failure to curesuch b~sach on or before the dste speciiled in the notice may result in acceleration of the sums secured by this Mortgage. toreclosure try judicial proceeding snd sale of the Proparty. The notice shall furtheriniorm Borroweroithe-ightto rainstate aRer acceleration snd the -ight to assert fn the toreclosure proceeding the non-existence of s detault or any other detense of Borrower to scceleration and foreclosurs. If ths breach is not cured on or betoro the date spscifisd in the notice, Lender at Lende~'s option msy declars sll oi ths sums ~ecurod br this Mortgage to be immediatsly due snd peyable without fu~ther demsnd and may foreciQSe this Mortgage by judicisl proceeding. Lender shaii be entitled to coilect in such proceeding atl expenses of foreclosure, Inctuding. but not Iimited to. ressonsble attorneys fees, and costs of documentary evidencs. abstracts and title reports. 19. Borrowers Right to Reinstate. Notw~thstand~ng Lender s accelerat~on of the sums secured by th~s Mort~age. Bcrrower sha-1 have ihe nght to have any proceedmgs begun by Lender to enlorce th~s Mortgage d~scc~~t!n~~ed a! ~ny t~me ~ } ~ ~ ~.~~- _- ~ ~ATS'~-v`7e~"`..~`r~ `4... tN3~.'sr' . w~-Cx~` ., .. . ~ 6~~x349 Yd~E 21$ - :~ Y. ~~ k~~~:.. :~ . .