HomeMy WebLinkAbout2616I Ciiii2f~C i~ffii~Il :igre~~tncni ~~i apph..~blc luw Nor-uwcr shall pay Ihc am~~unt ~-t all m~~rtga~e imura~cc pr~m~umc m Iht
m.~nnrt p~~n~dr~l undcr ra~a}~~a~h ? hcrco(
An~ a~nuunt~ ~I~~hi~i~rd h~ 1 rn~le~ pu~~i~ant 1~~ ~hi~ par.~Rraph 7 Huh ui~rrc~l U~ercun, shall 1+~c~~me addiliona)
inJrhirdnr~~ ~,( R~~~~~~wrr ~rcun•d h~~ Ih~~ ~i~at~;akc (!nlc,~ i~~~rruwcr .~nJ 1 enJcr aRrcr M OIhQr Ictms ~~f paymcnl. ~uch
anu~uuh ~hall tw• ~.a~aMc u~~n n~~iirr h~,n- I rndcr ~i~ Ri~rn~wc+ rryuc~linR p:~~•mcnt Ihcm~~(. ~nd ch.~H hcar intcrct! Imm the
d:~te i.f di.hurcemenl at ~hc r:Nr ~.~v:~hlr t[~~m lime t~~ Iinx ~~n oiil~tandinR princip~l u~der the No~e unlecc payment o(
interecl at such rale would he cimlron• t~. ap~hcahle I:~w, in which evenl ~uch .im~~unt< <hall hear inlerect at the highecl rate
permissihle under appl~cahlc lav-• N~+thinK c~~nt:~inrd ~n th~~ p;u.~Kra~h 7 chall rcyuire 1 ender lo incur any ecpence or take
any ac~ion hercunder. ~
S. Inipectbn. I enJer mav male ~+r ~:u~.~ ~,. Fx• madc rea«~nahle rntriea uFxm :+nd inepeclions ot the Property, provickd
tha~ 1 ender ~hall give A~,rrnw~•~ n~.~~~r r~i~~r t~• ;~m .orh incpcchi~n ~pecity+ng reas~nabk cause theref~r -ela~~d to I.enck~'a
~ntcrr~t in thc Propcrty.
9. Condemoafbn. The pnK•redc ~.f am• award or claim fur damages. direct or cc-nuyuential, in conneclion with any
condemnalion or Mher taking of Ihe Pra~,crty, ~x pa-~ iherrnt, or tor conveyance in lieu of condemnation, are hereby assi3ned
and shall be paid to l_ender.
ln the evtnt o( a totel takinq of Ihe Pmpenv. ~he r!11l'~t/Ii chall he applic~l to ~he cumx secured by this Mortaa~e.
with the etcess, if any, paid to Rorrov-•er i~ ~he event of a parlial taking of the Property, ~mlecc Rorrower aod I.ender
„therwise agrce in writing. lhere shall he applieJ t~• the cumc secureci hy thic Morlgagt cuch proportion of ~he ptoceeds
at i~ equal to that propc-hion which the ~m~nint i•( ~he cuma ~ecured by this M~rtgage immediately prii~r to tht d~lt ot
taking hcars to the fair markel valuc ~~t ~hr Pn•Mrt~ ~mmcdialcl~• prior to the date c-( takinR. wi~h ~he halance ot the prc~cetdt
paid t~, Borrower. .
1t the Propert~• ic ~handr~cJ h~ B~•n~.~-cr. .~r if :~(ter ni~ti;e hv 1 ~nder t~ R~rr~.wer thaf the rnndemnor oflers to m~kt
an award i.r ~tttle a rl~im (ar d~m,~~r~. R~~rn~ucr fa~l. t~~ ~r~rr~~d M 1 end~r within i(1 da)•t a(ter Ihe date such noti,e is
ma~led. I.enJer ic authorired ~~ c~~llcct and a~~~h the pr~.ceeda at 1 ender'a ~rti~n. either lo rectnration ~r tepair ot the
Pmpct~t' ~r Ic. Ihc ~um. ~rcurcd M ~hi~ \1~•rtiarc
L-nles~ 1 ender :~nd Horn~wer e~then+~« agree in Hrihnc am• ~uch applicati~n ~f prticetdt lo principal chal) not exftnd
.•r Fx.~IM~ne the due da~e ~~f Ihe m~~nthl~ i~i~tallmcMc reterred to in paraRraphc 1 and 2 hercof ar change tht amounf o/
cuch maallmcnts •
10. Borrower Not Release~l. Etten~ion c•/ ~he time (ar pa~•ment ~r m~dificatic.n of amortiTation ~f the tumc ucured
hv ~h~~ M..~+oaoe graM~d h~~ 1 ender to am cucce~u~r in in~erect o( Nc.rrower chal! nrn ~perate to relcase. in any manner.
tlw liab~lit, o(~tht ixiginal 6orrower and &~rrower'a cuccee«•rc in intercct 1 ender ~fiall n~t he reyuired t~ commence
pnteeding~ againN cuch sucrecsor or rCfuce t~ t~lend time k~r pa~•menr or otherwi~e m~xlif~• am~rti~ah~n ~I thr •~~ms
te~ured hy thic !11~ttgage h~ rcac~~n af arLy demand made M the ~~rieina) Borr~~K•e- and H~rmvvet~~ tuccettc-t~ in inter~~t
I1. Forbtarance b~• l.ender !~io1 ~ VI'aher. .Am f~~~hearanrc h~~ 1 cnder in ercrcicinR an~~ right ~r remedy hercunJer, or
rnh~rwise aRurded h~~ applicable law, shall n~t Ix a waiver ~f ~r preclude the erercice ~t an~~ ~uch ri~tht or remedy
The procurement ~f insuranre ~~r the pat•ment ~~f lates ~~r ~+ther liens ~v chargec h~• 1 end~r ~hall ne+t he a aaiver of l.ende~'s
riRht to acrelcratc !he mauirit~• ~.f thc indehtcdnea ~ccuRd h} thic 1-longaRe
/2. Remedies ('umulaHve. Ail remedies prc•vided m thic Alortgage arr distinct a~d cumulalive to any~ Mher riRht c±r
remedy under thi~ 111orrgage ~ir ati~~rded h~• !au• or equity. and may be eterciced c~ncurrcnlly independen~ly or snececsivtly
~ 13. Snecessors and AcsiRws Bnund: Joinl and Se~enl i.iabilNy: ('spNons. The covenants and agreementc fierein
coMained shal) hind. and the riRhtc hercund~r shall innre to. the re~peclive succecs~r~ and acsigne ~t 1.ender ;uid Borrower.
subjec! to tht pnn•isic-nc ~.f paragraph 17 hereof. All crn•enanlc anc) aRreementc of Barrower ihal) tx j~ir~ and severa)
The captiuns and heading~ ~~f the raraeraphc i~f Ihic 111~rtgaRe arc fi~r c~nve~ience ~nly ~nd arc not t~ Fx uud to
interpret or define the prrn~cic•n~ herc~f.
14. Nake. Etcep~ f~~r a~Y nM~;e rcqnired under ap~licaMr- IaN t~~ he given in another manner, /a) any notice tt+
B~~rr~~a•er provided tor in thic M~rtgaee thall he g~ven h~ mailinF cuch nntice h~• certifl~d mail addrcaed M Bnrrow•er at
the Pmperty Addrccc or at such ~.ther addrecc ac A~~rmwer ma~ de~~gnate h~• n~~tice tn 1 ender ac ~mvided hesein, arsd
ini am notice to Lender ahall he gnrn h~ cert~ficd m~~l return rece~~t r~yue~ted. t~ 1 ender'c addrecc sta+ed herein or to
~uch ~.ther addrec~ as Lender ma~ de~i¢nate h~ m~tire t~+ Rrrr~~we~ as prm ided herein Any ~otice pmvided for in this
11~~ngag~ shall he dtemed t~. ha.c Fn•rn C~~rn t~ A~~rn~wcr ~+r 1 cnder when g~~cn in the manner de~ignated herein.
1S. Uniform 11ortRa~e; Gm~erninA Law; Ce.erabilit~. ?h~~ t~rm ot mortRaRe cnmhines imiform rnvenanlc (or nations)
USt 3f1(~ ItOfl-UI11~~~fT C~~~C(13tllt with limnc~l ~3!~:flit~n~ F•\ ~~~nci~~CU~~~1 1~~ C~Nltllhllt a uniform securily instrumen! COVlflflE
real properlp Th~c Alortgage ~hall be g~~~rrnrd M the laa ~f the jun~dicli<~n in which Iht Ptoperty ic Iocated. In the
e~•ent !hat any prov~si~~n ~~r clau~e ~~f 1hi~ ~1~~rtFaCC ~~r ~h~ tie•te c~~Aictc with applicahle law, such conflict chall not atfett
c•~her pro~~isions of th~c 111~~ngage or thc \~~tr wh~ih can hr g~~en etTect wi!h~~it tht confl+cfing }+r~vicion, and M this
end the pro~iciom rf ihc M.~rtgacc and thr `.~te are dc~l:ued ti~ he u~trahle
16. Eomower's Copy. Borr~•NCr chall Fx furn~.hed a c~~nfarmed c~~py ~t Ihe Note and of lhis MortgaRe at the time
~~f e~ccution or 'r(icr rcc.~rda!i~~n ficre~~f.
17. Tnnsfer ot the PmpeA~~: Accomp~ion. If ill ~.r an~ part of the Pmperty or an iMerest therein i~ t~ld nr tnntferred
by Borrower with~~ut I.cnder's pn~•r wnn,n .~~n«nt c~.tuding Ia) thc creali~~n o( a litn or encumhtance taFx~rdinatt to
thn Mongage. (h1 the creah~n ~f .~ pur~ h.i.r mrnc~ .ecunt~ mterest fnr h~.uuhnSd appliances, Ic) ~ Iranc(er h~• devise,
detcen~ or b~~ ~~peranon ~~f la.. u~~n the .tcath rl ., i~~~nt tenam rr ld- ~he grant of any leauh~ld intercst o( Ihrec ycars or Ittc
no~ containing an op~ion t~ ~urchase. 1 enJer ma~. a~ 1 ender's opt~on. decl.ire all ~he somc secured bp this Mortgage to !+t
~mmediatch due and pa~ahtc l rnder tihall h,~.c M,~~.~d snch optwn to arrclcrate if, prior to the cale or tsansfcr. 1_ender
and the person to wh~~m the Pmpern ~. ~.~ hc •~~hl ~~r ~r.~ns(erred reach agrerment in writing 1ha1 the credit ~~f wch ~+ercon
it sat~cfacton to I.eneler and ~hat Ihe i~irrr.t pa~ ehle ..n the sumc urured by Ihic Morlg~ge shall bt at such rate aa I ender
shall rtquest. lf I ender has wa~veJ the ~•~+-u~n t~, accelerate pmvided ~n this paragraph 17. and if Borrower'~ wccessor in
interest ha~ erecuted a wr~tten as~umpt~~•n agreement accepted in writing hy t_ender. t_ender shall releace Borrower from all
obligauons under tMs Mortgagt and thc'~~~t~.
If [.ender eaerriuz such .~pt~~~n t~~ acccSera~e. 1 enJer ~hall mail Bormwer notice of acceleration ~n accord:+n~c u~~h
pangraph 14 hereof Such nouce ~hall pruv~de a penoci ot nvt lest than 30 days (rom the date the notice is maited v-ith~n
uhich Barmv-~er may pay the sum~ derlared due If Borrower fa~Sa to pay tuch u~ms prior to t!~e expirat~on ~f wch penc~d.
l.endcr may. w~th~~ut forthcr not~ce ~~r dcmand on Horrower. ~nvokt any remedies permiued by paragraph 1R herc~f.
NO!v-UN~FORM COVFV~VTS Borrower and l.ender further covenant and agree as follows:
ls. Accekrstaa: Remcdks. Ezcrpt as prorided iA p~ra~nph 17 bereot, upoe Eorrowt~s SrcacA oi sny covensnt or
a~recmeat of dorro.rer in this ~tortRs~e. includinR tbe covenanls 1o piy ~+hen due reY snms secured Sy tAls Morf~s~e, l.ender
prior to accekrstioa sAall mail notice to Eorrow~r as provlded in parqrsph 11 Aereo( specltyint: (1) the bnsc~: (21 tAe actbn
rcquired to c~re sncb bnsch;l3) a date. no~ Ics than 30 days tmm the dMe tAe notke b~Nled to eorro.-~r. ~ which sncA
bcach mast Se c~nd: aod (1) IAst tsilure Io core srch bresch on or betore the date specified ie /he notke msy -esult ie
accekration ot tbe soms secured by this Mort~aRe. forecbwre by judkid proctsdi~ ~nd sak of the Properry. 71ie notice
sAdl turther inforen Eorro~.er of the ri~M to niestste dter ~ccekMbn and tbe ~ht to asseri in fi~t torecbsrrt proce~edi~
t~e non-exislcnce of s de(~uh or snv olher detense o( donower to accekratbn and fortclosure. 11 the bre~ch is eof cvred oa
or before Ihe dste specified in the notice. I.ender at 1 ender•s oplion ~+sy dedart dl o/ tht svn~s set~~+td M' fAis MoA~aRt to be
irn~ncdistely due and payibk withouf furthe~ dam•rnd and msy foreclose thB MortRa~e er judicisl proceedln~. I.~nde. chdl
be eotiNed lo colltet M srcM proceeditl~ fll tiPensts n( fO~tclotuK. Inclndins. but sot Umited to. reasonsDk at~•~rnrti•s fees.
and costs a( AOC~mewl~ry evidence, abstrscls ind ~i~le nports.
19. dorro~-er's Rf~bt lo Rtinstate. tio~'wi~h~t~ndinK I end~r's acceleration ot the sum~ secured by ~h~~ 41~~rtgage.
Botrowtr shall have 1ht nghi r~~ havr ~m ~r~~:crd~%~~~~ -x''~~n 1>> Lcndtr In cn(~~~ct thi~ ~1~.rt~a¢c d~~c~~nt~nucd at am t~mt
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''~`3~9 ~~~~F2615
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