HomeMy WebLinkAbout14311 cnJcr'~ wnttcn .~grccmcnt ur appl~cable low. &-r~uwer ShaU pay thr amount of all murtgage imurancc prcmiums in the
mannrr pr~,vulrJ undcr pat.~~;taph 2 herto(
Any anu~unh ~li.hun«I b~~ I cn.irr purwanl 1~~ Ihis par.~gtaph 7. wilh unrrc~l Ihercon. chall l+ecomt additianal
in~lcht~dnr~~ „~ I;;~~r„Nir ~~cu~rd hy thi~ Nurl~akc Unlc~~ Bormwcr and 1 cnJcr ag~.M Ot~c~ tC~mc of paymenl, SuCh
am~~un1> >hall Fx pa~•~hlr uM~n n~~ti~c R~~m 1 rndcr Io Bo~ruvrrr rcyucsting paymcnt thcrcof. and ~hall hear interest from the
~l;~~c a( di~hurumrnt at ~hi ratr p;~yaM~ frc~m time to hmc im outttanding principal under 1he Note unless paymeot ot
interest at such ~~te would he ce~Mrarv a, applicahle law, in which event ~ueh amo~~nts .hall hea~ intercct at Ihe highest nte
petmissible under apphcable law. Nulhing c~~n~ained m th~c p~~agraph 7 chall require I.ender ta incur a~y eapense or take
any action hcreundcr.
8• laspection. I.enJer may ma~,e ,.r ca,,.r ~c, he maJe reaconable emriec upon and i~spections af the Property, provided
lhal t ender ~hall Rivr Rurruwrr ni~l~cr p~i~~r lu any ~uch inspec~ion specifying reasonabk eause there(or relatod to I.ender's
mlcrect in the Property.
9. Coademnation. The pnKeed~ of any award or claim for damages, dircet or comequential, io connectio~ wnth any
candemoation or other taking of the Propeny, or part thercof, or for conveyance in lieu ot condemnatio~, are hereby assisned
and shall be paid lo Lender.
In the evenl af a tot~l taking of the Proper~y. the proceeds chall be applieJ to the sums sea~rcd by this Mottaage,
with the exccss, if any, paid to Bo~rc.wer. ln thc cvent ot a partial taking of the Property, unless Borrower and Leude~
otherwise agree in writing. therc shall he applied to the cums secured by this Morigage such proportion of the proootds
as ic ~qual to that p~o~xirtion which the amiuint ot ~he si~mc secured by this Mortgage immediately prior to the date of
taking t~ears to the fair marke~ valuc o~ thc Pro~xrty ~mmedia~ely prior to the datt ot taking, with the balance of tht proceeds
paid to Aormwer.
If fhe Properly ic ahand~ned M• Bcxmwcr. ~r if after nMict by I.ender to Borrower that the condtmnor oBers to make
~ a~ av-•ard or ~ctNe a claim fc~r dama~c~. Brrmwcr fa~l. ~~ retipnnd to 1_ender within 30 days a(ter the date suth noticr is
ma~lcd. I.en~ler i~ authori~rd to collect and :,~~i>• ~he proceeds, at l.ender's option, eilher to restoration or repair of the
•Prope~~~• ~~r t~ ~hc wm~ ,ccurcd h~• thiti A~lon~agc.
. tlnles~ 1 ender and Borrower olhervvik asree in w•rit~ng, any such applicalion of prc~cteds to principal shal) not extend
~.r pc.~~p.,ne ttec due da~c of the monthlv in~l~llmcnts rcferrcd to in paragraphc 1 and 2 hercof or thange the amount of
cuch installmcnts
10. Borrower Not Released. Extension of the time for payment or mcdiRcation of amortizatio~ of the sums socurcd
by th~c Mortgage granted by 1 ende~ to any ~uceecso~ in interect of Barrower ~hall not operate to rclease, in any manne~,
the liahili~y of the original Borrower and Bc.rrower'c succescorc in interest. l.ender shap not be rcquired to tommence
pmceedinR~ against cuch succe~so~ or refuu to erteod time for payment or otherwi~e modify amortizat~on of thr sums
~e~ured h} Ihi~ Mongage hy rea~n of any demand made by the oriqinal Borrnwer nnd Barrower's successors in intercct_
11. Forbearance by I.ender Not a Wairer. Any forhearance by 1_ender in e~ercising any right or remedy hercunder, or
~aherw~se afiorded hy applicable law. shall nM be a waivet of or preclude the exercise of any such right or remedy.
The p~ocurement ~f inturance or the paymeM of tares or other liens or chargec by I.ender ~hall not be a waiver of Lender's
right to acrelerate ~he maturity of the indehtednecs cecurcd hy this MortgaRe.
12. Remediec Camulati~e. All rcmedies provided in this Mortgage are distinct and cumulativc to any other right or
remeJy under ~hic MortFage or a(forded by law or equily. :~nd may lx eaerciud concurre~tly, independently or succtssively.
~ 13. Successors and Assi~es Bonnd; .Joinl and Several f.iab7ity; C.apHons. The covenanls and agreements hercin
contained shall hind, and the riRhts hereunder shall inurc to. the rcspective succesu~rs and assigns of Lender and Borrower.
subject to the provisionc of paragraph 17 hereof. All covenaMS and agreementc of Borrower shall be joiry and xvenl.
The captions and headingc af the para~traphc of thic Mongage are for convenience only aod are not to be u~ed to
interpret or define the prrni~ionc hereof.
14. Notke. Etcept far any no~ice rcquired under applicable law to be given in anolher manner, (a) any notice to
Ro~rower provided tor in thic Morlga¢e shall tx given hy mailing ~uch notice by certifitd mail addressed to Borrower at
the Pmperty Addrest or at ~uch other addresc as B~~rrnwer mav detignate by noiice t~ I_ender as provided herein. and
Ib) any notice to Lender shall he givtn by certified mail. return receipt requested. to [ ender s address slated herein ar to
~uch uther addresc as 1_ender may deti¢nate by n~~tice to Borre~wer as pro~•ided herein. Any no~ice provided for i~ this
!Nongage shall he deemed to ha~•c F+een gn•en to B~rr~v-cr or t_ender when grven in the manner detignated herein.
15. l,'niform MortRaRe; GoverninR IaN: Se.erability. Th~~ form o( mortgage combines uniform covenants tor national
use and non-uniform cove~amc w•i1h limiteJ vanation~ hy jun~diction to constilute a uniform security instrument coverina
rca) property Thic Mortgage chal) be governed hv ~he law of the jurisdiction in which the Property is Iceated. in the
event Ihat any provision or clau~c of thic Morlgagc ~r ~he Note conflicls with applicable law, such conflict shall not a}fect
other prov~sions of thic Mortgage or the N~.tc which can Ix g~ven effect without the conflicti~g proviaion, snd to this
end the pru~ici~n~ of the Mortgagc and the No1e arc dcclared to be uverable.
!6. Borrower's Copy. Borro~•er chall bc furni~hed a conformcd copy of tht Note and of this Mortgage af the time
of execution ur aher recordation hereof.
17. Tnnsfer of the Property: As.ump~ion. It all or any part of the Pmperty or an interest therein ic sold or transterred
by Borrower v~,thuu~ Le~der's pnor wnncn «~ment. e~cluding (al the creation of a lien or encumbronce suhordinate to
this Mortgage, (bl the crealion of a pur~h~cr m~~nev ~ccuri~y mterest for household appliances, (N a ~nncrtr hy devise,
descent or by operation of la~ upon the ~Icath ~( a~~~~nt tenant or (d~ the g~ant o~ any leasehold intenst of ~hrcc ycars or kss
not containing an option to purchase. I ender may~. at Lender'~ opt~on, decl;,re all tht iums secured by this Mortgsge to be
~mmed:ately due and payable 1 ender ~hall h:,ve w.uvrd surh opUOn to accrlerate if, prior to the cale or transfer. Lender
and Ihe perxm t~ whe~m thc Properry i~ ~~~ tx .~.I.1 i~r transkrrcd reach agrrrmrnt in wriling that Ihe credit ~f cuch person
~s saUSfactor} ~o I.en~e~ and tha~ the in~rr~,~ pa~able on the sums ucured by this Morlgage shall be at si~ch ntt ac I.ender
shall request If 1 enJer has waived thc op~~~n to accelerate provided m this paragraph 17, and if Borrower i wccessor in
interest ha~ c~ecuted a wnlten ascump~ion agreemenl accepted in writing by I_ender, l.ender shall rtleast Borrower from all
obl~gationc unJer this Mortgage and thc No~e.
If I.ender eserc~set such apt~on ti~ accelera~e. Lender chall mail Borrower notict of acederation in accordanc~ uith
paragraph 14 hereof Such not~ce ~hall provide a periac! of not less than 30 days from Ihe date the notict is mailed within
which Borruwer may pay the sume declrreJ due It Borrower fails to pay such sums prior to the expintion of wch period,
Lender may, w~thuut further nohce c.r dcmand an Borrower, mvoke any remedies permdted by paragraph IR hercof.
NON-~iNIFORM COVENANTS Borrower and Lender (urther covenant and agrce as (ollows:
18. Acceleration; Remedies. Excepl as provided ia para~raph 17 heteot. upoo forrowers breach ot ~ny co~ewaM or
agreement of Borrower in this MortRa~e. includinR Ihe corenan/s to psy r-Uen due sny snms secu~ed br this Mort~a~e. l.tnder
prbr Io ~ccekntion shdl m~il notice ~o dorrovre~ as provided fn ps~s~npA 14 he~eot specityios: (1) the erc~ch:1211he sctbw
requlred to core snch breach; 13) ~ date. not kss than 30 days trom the date the nMice i~ mafkd fo dorrowcr. by ~+Akh wt~
bicach must be cnred; snd (4) thsl failure to cure wch breach ow or betore Ibe dNe speclf'ied is ti~e ao/ke m~y rradf _iw
sccekrstion ot 1Ae sums secured br tAis Mort~sRe. /o~ecbsure by judicld proceedi~ and sde of tAe Property. The nolkt
shdl further intorm Eorro..e~ of the ri~ht to reinstate afttr sceekrstbn and Ihe ~ht fo asstr! in the toreclowre N+oetedl~
t6t non-etisfcnce ot s defsuk or sny ofMer deftnse o/ eorrow~r fo ~ccek~slioo snd torecbmrt. /t tbt brescl~ is wof cretd o~
or betore the dale specified in the notice, l.ende~ at I.ender's optbe m~r declsre ~N o/ the suy secrred bp tAls Mort~aRe to bt
immediatel~ due snd psyable withoul fuNher dem~nd ~od msy foreclose M4 Mo~a~t by jddicW Proeetdl~. I.ender shall
be eotitlcd Io colket in such proceedin~ sll e:pences of foreclosar+e. inclndin~, bnf ~ot Ifmited to. reasonaslt an.,rn~-r's fees.
and cosls of doc~meatary erjdente, sbstrscls and Ii11e ~eports.
19. dorroae~'s RiRht to Reinst~tt. Notwi~h~t.;nd~nK I ender'c accelerat~on of the sume ucured by ~h~t Mortgage.
Borrowtr shall havt Ihe nght to havt ~m procerd~ne< he'un b~ Lrnder ~~ ent~rce ~hn M~rigaqe d~scoMinueJ a~_ any ~ime
~~:~x350 ~~~E1~30
5
Yzxk; :