HomeMy WebLinkAbout2598! rnckt'~ r~;~tten a~icYfiicilt cfr appii.able iuw. [3urrowe~ shaii pay ~hr amuunt of ali martgage incurance prcmiumi in the
mannrr pr~~wdc~l undci paraR~aph 2 hcrco(.
Any am~~unh di~h~n.rd hv 1 rnikr punuan~ tu ~his par.~graph 7. w~th inlcrcti: Ihcren~. chall 1+ecotnt additiona)
~n~lrhirdnr.~ u( H~uruNrr ~ccunJ h~• ~h~. N~-r~~;agc Unlc~~ Nur~uwcr and 1 cn~kr aeree to othcr termt of payment, tuch
am~~unh ~hall tx pa~•ahlr u~m n~aicc fn~m 1 rnder t~~ Bc~rruwrr reyue~ting p:~ymcn~ thercot: and ~hall hear inte-et! from the
~I:;~c ~-f di.hur.rmrn~ a1 thc ratc p:rvahlc fmm timc tn hme ~~n outs~andinR p-incipal under the Note unlecs payment af
interec~ at such rale woidd he cuntrarv ta applicahie law, ~n which event ~uch am~un~c chall hear interest at the hi6htst rate
pecmissihle under appl~cahle law•. N~~thing c~~nt:~ined m th~~ par~graph 7~hall rtquire I.ender to incar any tapense or take
any action hcrcunder.
S. laspec/ion. I.cnder ma~• maAc ~.r : au.c t~ hc made rtaconahle cntritc upan and incpectiont of the Property, provided
Ihat 1 ender ~hrll Rwe Bi~rmwer no~i~r pri~~r li- any wch mcpecUon cpee~fymg reasonabk cause therefor relatod to Lende~'s
mtercal ~n thr Pmpcrty.
9. Coademnatbn. The pnxeedc of any aw•ard or claim for damages. direct or consequential, in tonneetioa writh any
condemnation or Mher laking of the PrcMerty, or part thereaf, or far ccMVeyanct in lieu of condemnation, are hercby assianed
and shall be paid to I~nde~.
Tn Ihe event af a tc>t~l takin~ of the Proper~y. the prc~ceeds ~hall he applied to the cums secured by this Matas~e,
with Ihe exccss, if any, paid to Borrowe~. In the event ot a partial taking of the Property, unless &-rrewer and i,ender
otherwice agree in wriling. lherc shall he applied to the cumc secored by this Mortgage such proportinn at the procetds
as ic equal to that proportion which 1he ~m~~um of ~he sum~ ucured by this Mortga~te immediately prior to the date ot
taking hears Io ~he fair market valuc o( ~he Pr~~per~v ~mmedi~tely priar to Ihe date of ~aking, with the bafance of the proceeds
paid ~c- Borrower.
(f tht Property ic ahand~~nc~l h~~ Bnrrc.u~er. ~r if :~fter n~tice bv I.end~r to Borr~wer that tht condemnor oRers to make
an award ~r ceple a claim for d~maee~. Hnrn~wer Lul. t~, retipc~nd tc+ 1 ender within l0 dayc after the date suth notice is
mailed. I.ender ic authixi~ed to rnllec~ arni appi~~ ~he pre~ceedc. at I.ender'c option. either to rcstoration or repair ot the
Propcrty c.r ta Ihe cum~ ~ccurcd h~• thi~ N~nKaec '
Unles~ I.enJer and Borrower otherx~~c agree ~n w rihne. any cuch application of proceeds to principal shall not extend
~r ~xxtFx.ne the due date ~f the mon~hlv inctallmemc referred to in paragraph~ 1 and 2 hercof or ehange the amount of
cnch inctallmenic.
f0. Borrower Nol Relezsed. Fxlension of the hme for payment or modification of amortization ot the sums socurcd
by thi~ Mort~age qranlecl hY 1 tnder to any cucceca~r ~n interect of Borrower chall n~t o~-ente to rclease, in any manner.
the liahili~y ~~( ~he oriqinal Borrower and Bc-rrower'a succecu-rc in interect I.ender chall not be rcquired to commence
praceeding~ aRainat cuch ~uccessor or rcfu~e ~o ertenJ time for payment or otherwiu mc~dify amortiza~~cx~ of ~he +~~ms
~e: ured M• ~hi~ M~~rtgage hy reace~n of any demand made b~• the ori¢inal Fbrmwer and Rorrower s succescc~n in iMertct.
11. ForAearance by I.ender Nof s Waiver. Any f~rhearance hy I ender in erercisinR any right or remedy hereundt~, or
rnherwi~e afi~~rded hy applicahle law, shall nr-t he a waiver of or precludt the eKercise of any such right or remedy.
The procarement nf incurance or the Fayment of ta~ta ~r other I+tnc or chargec by Lender ;hall not he a waiver of l.ender's
right t~~ acccleratc ~he maturity of the indehtednecs securcd hy thic MortgaRe.
12. Remedies ('umulatire. 1111 rcmeciies provided ~n thit Mortgage arc dictinet and cumuiative ta any other right or
remedy ~mder thic Morte~ge or alforded hy law or equi~y. :md may tx eterciced concurrcntly. independently or successively.
~ 13. Successon and Assi~ns Eonnd: Joinf and Serera! (.iahility; CspHons. The covenants and agreements, hercin
contained ahall bind, and the riRhtc hercunder shal! im~re to. the retpective tuccecaon and aaigns of [_ender aod Borrower.
.ubject to ~he provicionc ~f'paragraph 17 hereoL All covenants and agreementc of Borrower shal) be joiry and several.
The captions anJ head~ngc of the paraRraphc of thic M~rtgage are f~r convenience only and are ~ot to be u~ed to
interpret or define the ~rovi~ionc htreof.
14. NMke. Except for any notice mquired under applicable law• to t+~ given in another manner. (al any notice to
Borr~wer prov~ded tor in thic Mor~~ta¢e ahall tx given hv mailinR wch notice by certified maif addrccsed to Bormwer st
the Pmpehy Address or at such o~her addresc as Fic~rrnwer mav devgnate by n~tice•to 1 ender as pr~vided herei~, and
A.; " ~ }"..~ • J L_}~ l ' l _ C • _ _ ~ _ . _ _ _ J • _ J~!_ JJ ~ J ~~
~' di~~ ii~i~i~.i av ~_~~1aiCi iiid~i i.'~ ~i':tii ii~ t{;~iii~tlu iiiuii. il'I~~iii iCtl"~iii iCi;~iC+ii"u. iii i.CiiiiCi i iUUTC~.~ )ii~~U tiGiG+i1 ii~ '.(3
~uch other addresc as Lender may deciqnate by n~tire t~ B~rmwer as prmided herein Any notice provided for in this
N~.ngage shall he de~med to havc heen given ta Bc~rr~,wer ~r Lender when grven in ihe manner de~ignated hereie.
1S. Uniform NortRa~r. Governin~ Iaw: Se~erabilih~. Thi~ torm of mortgage combines un~form covenants for national
use anci non-uoifc.run c.~ven~ntc with limile.l vanati~~ns h~ ~ur~cd~chon ta constitute a uniform security instrument eoverin~
rcal property Th~s Mortgage shall be governcd h~• ~he law of the ;uri~dictio~ m which the Property ic located. In !he
event thal any prov~s~on ~~r clauce af thic M~~r16a¢c c.r rhe ti,.te conflictl with applicable law, such conflict shal) not aRett
olher prov~siont of th~c Mortgage or the N~~tr wh~ch can be given etiect withoot the conflicting provicion. and te this
end the provisi~~ns of the M~rtgage and tht Vote are .leclared to be ceverable.
16. aorrower's Copy. Borrower tihall ~ furn~ched a.onfarmed copy of the Note and ot ih~s Mortgage at the timt
of eaec~Uion o: aftrr re~ordr~ion hereof .
17. Traasfer of the Prope~tr: Acsump~ion. f( all ~.r any part of the Pmperty or an ~ntercst therein ic sold or tnnsferred
by Borrower ~~th~~~~t Lender's pnnr v-ntr~r. ~.~n~en! ercluding lar the creation oE a litn or encumbnnce subordinale to
this Mortgage. Ihl -ht creation nf i ~urch~~r m~~nevi cecunly mterest f~r household appliances, fcl a trancfer hv devist.
dcuent or hy operat~on uf .law upon thr .Icath c.( a i~»nt tenam or td~ the grant of any leasehold intercst of three ycars or kss
nol c~ntaining an ~ptiun to purchase. ( rnder ma}•. at Lender'~ opt~on. declere all the sums secured by th~s Mortgage to be
~mmediatel} dur and payahle I rnder ~hall h:,.e w.uved surh ophon to .~~crlerate if, pnor to the cale or transfer. Lender
and t~e perx~n ti~ whom the Prupertv i. t~~ hr .~~!J ~-r transferred reach ~grrrment in writing that tht credil vf cuch percon
~c sati~fartun ~o I.rnJrr and th~t thr fntrrc.~ pa~~ble on the sums cecured by this ylortgage sh~ll bt at such nte ac I.ender
sl~~a~~ rt~:;e~t !t : c~:lr: has za:~r~~ ~Fr c:~:::: ;:~ ;:::.le:atc r:~v:dcd :~ ;h:s ~:~gsaph !?. a~ if 9~r~ov~rer> >~rctssar i~
interest ha~ executed ~ wnttrn assum~~~on egreement accepted in writing by Lender, Lender shall ydease Borrower fre+m all
ubliga~~i~m unJer th~s Morlgagt and the `ote. '
If ( endrr :~e~~i~e~ .uch upt~on tn ac~elerate. LtnJer ~hall ma~l Borrower notiee of accele~ation in aceordanc~ ~~th
paragr~ph 14 hrrevf Such nou~e thall prov~de a penc~J of nut Iess than 30 days from the datc the noti~e i: maited with~n
wh~ch Burr~~wer ntav ~ey the iums JeclareJ due I( Borrov-~er (aih ~o pay such sums prior to the expiration ~f cuc~ penod.
l.enJer mry. with.~ut (urther nuUCe ~~r Jcmand un Horrower. mvoke any remedies permitted by pangnph I R herc~f.
hoti Uti1Fl1RN CU~F~iANTS Borrower and t_ender turtAer covenant and agree as follows:
i
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18. Acceteration; Remedies. Excep as pro~ided ia para~npb 1~ bereot. upo~ Doreowers breac~ o~ swr co~t~aM K
agrecment of Borrower ia this :NorigaRe. iecludinR tbe covcnaats lo pay r.hen due ~ay sums sscurcd 6y tl~is ~IortRaRe, I.ewdet
prior lo accekratfoo shdl mail notice to dorrower as provided in p~ra~rsph 14 Nereo/ specHyio~:11) tbe A~tscM; 12) ~At scfiow
rcqulred to cure sucb breach; 13- a date. not kss lhsn 30 days (ro~n tbe date the notke b maikd to lorrowa, by which src~
breach must bc cured; and (4) that tailurc /o cure srch breacA ow or bctore the dste speciAed i~ the wMice u~sy resdt i~
•ccekration of ihe sums secured by this MoARa~. fosecbsurr by judkial proceediw` md sde ot tAe Tro~erry. 'ibe wefke
aAal) turther inform Borrawe~of Ihe riRM lo rei~tate dler sccckralbw and tAe riRht to aarert ia tbe foreclosr~e Noee~~
tbe non-eticlcnce ot s detaul/ or ~ny other detense o/ Eono~+er fo scctkrstion sad toreclosnre. H tiK b~+esel~~is Aof e~ ow
or before Ibe dale specified in the notice, Lender ~t I.ender's optbw ~ dtchrt sH ot ihe siss sec~red h' t4~s MorfRa~t b be
immedialely due and psy~We ••ithoul fuNAer demand and m~y foreclost tbk Mort~a~e by jrdkW poeee+tin!• I.e~Ae• sMap
be.eodlled tu collect in wcA proceedi~ all e:penxs ~~f toreclowrr. Inclndin~, ~t ~wt limited to, re~on~sle sft•~rn~i's fee;,
and costs ot docuraenlsry e~idence. abslrac~s snd ~i11e reports.
19. dorro~rer's RiRM to Reinst~te. tiotw~th~tand~n f I ender's accelerat~on of ~hr tiums ucured by th~c Nort~a`e.
N~~rruwer shait have the nght ~., ha~r .-m ~n~.cr.1u,~. !~fun n~ Lender t~ cnfc~tcc Ih~~ ~i~rtgaQe dnconbmleJ at am hme
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