HomeMy WebLinkAbout1736i.cndrr's wnUcn agn~cmcnt or applicahic lew. Bo~rower shall pay thc amount of aQ mortgage inwrance premiums in the
o~anncr pruvidcJ unde~ pa~agraph 2 herco(.
Any amount~ di~hurced by 1 rniter pur~uam a. this par:~g~aph 7, w~~h ~ntencl Ihereon, chall hecume additianal
inJrMednrcc ~~f Bwr~-wrr ucurcd by Ih-. Mor~gage Unlc~~ Anrrowcr a~d ! rnder agree. tc+ pihd 1em~s of paymcnt, ~uch
amountc shall hc payablc upcin n~~tirc f-~•m I.cnder tii &~rrowrr reyue~ting paymcnt Ihcrcof, and chall bea~ interest fmm the
date of di~bururment at the ratc payahle fn.m timc to Iime i~n outstanding p~incipa) under Ihe Note unlest payment of
interest at such rate would he contrarv ~~~ appiicable law, in which event a~ch amounti shall hear interest at the highest r±te
permissible under applicable law. Nothing c~~ntained ~n lhic paragraph 7 shall require I.ender to incur any expense or take
any action hereu~der.
s• laspeefioa. I.enJer may make ~.r cauu Io be made reaconabk eM~iec upon and inspfrtions of the property, provided
that t.ender shall give &-~rc-NCr not~ce pri«r to ~ny wrh inspection specifying rcasonabk cause thercfor relatod to Ltnder's
iMeresl in 1he Propehy.
9_ ('~!~slr~s~,slinn. 'Thc ~rr~-~rci~ ^F TnY 3w;#Cd n~ rl~e~s !cK dasR~e_n. c~i~t t±~ !~c+nseQt~nti~l: im m~nectio~ with anv
condemnation or dher taking of the Property, or pan tl~ercof, or for conveyance in litu of condemnatio~, are hereby assigncd
and shall be p:id 1a I.tnck~.
in Ihe event of a tnt~l takinq ~f 1he Pm~ertv. the prnceeds chall be anplied to the sums secured by tfiis Mort~age,
with the excess, it any, paid to Borrower. In the eveot of a partial taking of the Property, unless Borrower and La-der
olherwise ag~ee in wrifing. therc shalt be applied to the sums secut+ed by this Mortgage such praportion of the procteds
as is equal to fhat proportian w•hich thc amoum of the sumc xcured by this MoAgage immediately priar ro the date of
taking bean to the fair market value of ~he Pn~per~y ~mmediately priar to the date af taking, with the balance of the proceeds
paid ta Borrower.
if the Property ic ahandoned by Borrower. or if. after notict by I_ender ta Bonower that the condemnor offers to make
an award or seule a claim for d~maec~. Borr~wcr fail. to rcti~nd to I.eader within 30 days afler the date such notice is
mailed. l_ender i~ a~Uhoriied to collect a~d apply ~he proceeds. at [.toder's option, either to restotation or rcpair of the
Propert}~ or to ~he cum..ecured hy thi.c MorlRa~e,
Unlesc I.ender and 8orrower othN~f~c•a~ree!in~wrilin~e, any~ such applica~ion of procetds to principal shall not extend
or pcxtponc the due dale of lhe ~lt~(r-I~~F',i~~~~ht$ rcferrcd to in para~eraphc 1 and 2 hereof or ehange !he amount of
~uch installments. ~
10. Borrower Nol ReteasM. Extension of the time far payment or madi6cation of amortization of the sums securcd
by this MortRage granted by I.ender to any cuccessor in interect of Borrower ~hall not opente to rcleau, in any manner.
the liability of the original Borrower and Brrrower'~ surcescorc in interest. I.ender shall not be required to commence
proceedings against such successar or refus~ to e~tend tirtee for payment or otherwix modify amortizat~on of thr sums
~e.:ured hy thic Mortgage hy rcacon of arty demand made b~~ the ori¢ina! Borrowrr and Borrower s successors in interett.
11. ~orbeannce bp I.ender Not a Waiver. Any forhearance by l.ender in etercising any right or remedy hercunder, or
othenvix aBorded hy applicable law. shall not be a waever ot or preclude the exercise of any such right or remedy.
The procurement of insurance or the payment of tates or other iiens or charget by I_ender shail not be a waiver of ~.ender's
right ~o accelerate ~he maturity of the indebtedness securcd hy thi~ Mortgage.
12. Remedies Cnmulafi~e, All remedits pro~ided in this Mortgage arc dizlinct and cumulative to any other right or
remedy under this Mor~gage or afforded hy law or equity, and may be exerciud concurrcntly. independently or succtaively.
' f3. Suceessors and Assi~ns Boond; ,,Toint and Several I.iabFiity; Captbns. The covenants and agreemen~s hercin
containcd shall hind, and the riRhts hereunder shall inure to. the respective succecsors and assigns af Lender at~d Borrower.
subject to the provisionc of paragraph 1~ hereof. All covenants and agreementc of Borrower shall be joiry and severol.
The captions and headings of ~he paragraphc of thic Mortgage are far canvenience only and arc not to be uad to
interprct or de6ne the provicionc hereof.
14. NWice. Except for any nntirc required under applicable law to be given in another manner. (al any ~otice to
Borrower pr+ovided for in this Mortgaee shall be given hy mailing such notice by certifled mail addresxd to Bcxrowe~ at
the Property Address or a! such othcr addresc as Bor~ower mav designate by no~ice to i.ender as provided herein, and
(b) any notice to Lrnder.shall bt given hy cerlificd mad. re~urn rcceipt requc~ted. ~o t ender s address stated herein or to
~uch other addrcst as I.ender may deai¢nate !~y nrnice m Borrawer as p~o~ided herein. Any notice provided tor in this
Mortgage shall be deemed to have t+een Riven to &-rn•wer or l.cnder when given in the manner decignated herein.
1S. Unitorm MortR~e; GoverninR [.aw; Se.erabilit~. Thi~ form of mortgage combina uniform covenants for national
use and non-uniform covenantc with IimiteJ variationc M• juricdictio~ to constitute a uniform xcurity instrument eovering
real property. This Mortgage shall be governed bv the law of the jurisdiction in which the Property is located. In tht
event that any provision or clau~e of thic Mortgagc nr ~hc l~io~e rnnflicts w•ith applicable law, such conflict shal) nat affect
other provisions oE ihis Mortgage or the Notr v-bich can be given efiect without the conflicting provicion, and to tha
end the provisions of ihe Mortgage and ~he ~Vote arc declared to tK severable.
16. dorrower's Copy. Borrower shall bc furni~hcd a conformed copy of the Note and of this Mortgage at the time
of eaecution or after recotdation hereof.
17. Trausfer of the Properly: Assump~ion. If all or any part of ~he Propeny or an interest therein ic sold or transferred
by Borrower without [.ender's prior wrincn ~oncem. eticluding lal the creation of a lien or encumbrance subordinate to
this Mongage. (b) the creat~on of a purchac~ m~~nev ~ecurity mterest f~r household appliances, fcl a transfer hy devise,
descent or by operation of laN upon thc Jcath o( a jn~nt tenant or (d- the grant of any Ieasehold intercst of thrcc ycars or kss
not containing an option to purchau. I enJer may. ai t.ender'ti opt~on, decl~re all the sums xcured by this Mortgage to be
~mmtdiately due and payablc. I_cnder ahall h:,vc M,,,~•ed such op~~on ~o :~:~~Icrate if, prior.to the ~ate or transfer. Lender
and the peru-n ~o whom the Properry i~ ~~~ tx ,~IJ ~r transferred reach agrerment in writing that the credit ~f wch percon
is satisfactory to l.enJer and Ihat the imerr,t pa~able on the sums secured by this Mortgage shall be at such rale ac I_ender
shall request. If l.ender has waived the opt~i~n to accelerate provided in this paragraph 17, and if Borrower i~uccasor in
interest has executed a wntlen assump~~on agreement accepted in writing by t.ender, l.ender shatt release Borrower from all
obl~gations under this Mortgage and the Note.
)f Lender exercixs such opt~on to acceterale. I.enJer chall mail Borrower notice of acctleration in accordanc~ u i~h
paragraph 14 hereof. Sucn notice ~half prov~de a perial of no~ less than 30 days from ~he date the notice is mailed within
which Borrower may pay the sumc declared due. tf Borrower faits to pay such scrms prior t~ the expin~ian ~f cuch period.
[.ender may, without further not+ce or cicmand on Horrower. ~nvoke any remcdiu permit~ed by paragraph IA hercof_
NON-UNIFORM COVFIIANTS Borrower and [_ender funhe~ covenant and agrct u follows:
18. Aceelerslan; Remedks. E:cept as providcd in para~rspA 17 hereo/. npoo Eorrowers brexl~ ot any co~ensM or
a~reemcet of dorror-er in this Mortxs~e. includinR the co~ensnts to Pay when due aay sums secured by th~s Mort~a~e. IRpdtf
prior to scctkntbn shall m~il notice to Borrower as provided ia para~raph 14 herto( specifrins: (1) the bre~ch; 12) Ihe acfbs
requlrod to core snch bresch; (3) a date. nolless than 30 dsys trom tbe dNe the notice is maikd fo aonower. by ~.hich socl~
bnach must be cn~ed; aad (~) that failur+e lo c~e-e sach breub os or before tbe date specified ie the notke mar resuk i~
aecekrstion ot tbe sums stcured by Ihis MortR~t. foaclowre by judicid proceedin~ and sdt ot thc Pmpe~. Tht notlee
shsll ferther intonn Eorrower of thc ri~ht to reinsfah afler accekrstbn aed tbe ri~b/ lo asserf in the toreclosrre ~
t6e aon-esastenre.of s defauN or any Mher defensc of Eor-orre~ to ~ccekration and toretlossre. It the 6rrscA b eM crred o~
or before the date speci6ed in the notice. l.~nder at I.ender's optbw may declare ~ ot the wms set~rrd by tAk MortRa~e fo be
immedistely due snd payablt without further demand and msy to-ecbst tbh Mout~a~e by jodicW proceedin~. I.ender chdl
be totitkd lo cdlett ie wch prottedin~ sD ezpcnses ~~t foreclosnrt, Includin~. but nM Bmited to. reasonable att.~rn~y's fees.
•Ild COSCS O~ dOCY/Atlll~ lrldtll~t• sbstracts and riNe nporh.
19. dorro..ers Ri~bt to Reinstste. Notw~th~trndin~t I ender's accelerat~~n of the sume secured by ih~c M~ngage.
Borrower shall have tht r~ght ~o have am ~~~e«i~nc+ Fx~~m b~ Lender ~o en(orce ~his Mor~gaqe dncont~nucJ a~ an~ Nmt
~...'~ 350 Pa~ 1734