HomeMy WebLinkAbout1864~en~rr s wnllen ayrr~ment ,;r appl~caWe ta~v Bwwt~.~~ shall pay the amount Ot ' I(n tg~il)SUtanLe Uti~ ~~ti~y in lt~e
r..,,nner ~ov~ded undEr p~rac rapn 2 hereot - ~ ~/ ~
Any amounts d~SDursecl by LenUe- pursuant to th~s paragraph 7. wilh int BS~~ereon:j5h~1 ~cume adU~t~onal
+naebtedness o! Sorrower secured by tn~s Mortgage UMess Borrower and Lender ayree to other te-ms o1 payment such
~mounts shaU be payable upon noUce t-om Lender to Borrower request~ng payment theceuf, a~d shall bea~ ~nterest Srom Ihe
date of d~sUursement at tne rate payable Irom t~me to hme on outsland~ng pnncipal under the Note unless paymeM ot
~nteteSt al SUCh tatc: would be COnltarV t0 appl~Caole law. m wh~Ch event SUCh BmOUn15 Shal1 bear mleieSt at Ihe h~gheSf rale
perm~ss~bie under appi~cab~e iaw Noth~~g conta~necf ~n tYus parayrapn 7 shan requ~re Lender to ~i~cu~ any expense or taMe
any aCt~On herrun~er '
8. Inspsetio~. Lenoer may make o- cause to Ue made reasonable entnes upon and ~nspections ot the Pro~e-ty.
prov+ded that Lende~ shau g~vr Sorrower not~ce pnor to any such ~nspect~on spec~fy~ng reasonable cause tnerefor reiatecl ~o
lenders interest in the Prope-ty
9. Condemnation. The aroceecis ot any award or cia~m to- damages. d~rect or consequent~ai. ~n connect~on w~th any
Condemnat~on ar other tak~r.g ol the Property o~ part Ihe~eol. ur lor conveyance ~n l~eu ol condemnal~on. hereby ass~gnecl
and shall be pa~d to Lende-
In the event of a total tak~ng ot tne P~operty. the proceeds shall be appl~ed to the sums secured by Ih~s Mortgage
~vdh the excess. ~f any pa~d to Bo-rower I~ ~he event ot a Fart~a- lak~ng ot the Prope~ty unless Borrower ;. :~ ~~: _~~
~the~w se agree ~n wt~t~ny. tr~e+e shatl be appi~ed to the sums secured by th~s Mortgage such proporl~on ot the proceeds
as ~s equa~ to that proporoon wn~ch the amount ot the sums secured by th~s Mortgage ~mmediately pnor to the date of
tak~ng bears to the la~r market vd~ue ot the Property ~mmed~a:e~y pnor to the date of lak~ng, w~th the ba~ance ot the proceecis
pa~d to the Borrower.
It the Property ~s abandoned by Bo~rower. or ~I. after not+ce by Lender to Borrower that the condemnor otters to make
an award or sett~e a cta~m for damages Borrower fa~ls to respond to Lender w~th~n 30 days alter Ihe date such not~ce ~s
ma~ied len~er ~s autnor~zed to co~lect and apply Ihe proceeds. at Lender s opt~on. e~ther to restorat~on or repa~r oi the
Psope+ty at ~o tne sums secured by 1h~s Mortgage
Un~ess Lencse~ and Borrewe~ othen+v~se agree m wntmg any such appl~cat~on of proceeds to pr~ncspat shau not eztend
or po5tpone tne ciue date ot the monthty ~nstatlments referred to ~n paragraphs 1 and 2 hereot o- change the ~mount ol
such mstai~ments
10. Bonawe~ Not Released. E xtens~on ot tne t~me tor ;~ayment o~ mod~l~cation ot amart~zat~on ot the sums secure~
by th~s Mortgage granted by lender to any successor ~n ~ntecest of Sorrower shall not operate to release. ~n any manner.
tne ~~aD~~rty ot tne or~ymai Borrowe- and Borro~vers successors m m!e~es!. Lender shau not be reqwred to commence
proceed+ngs aga~nst such successor o~ ~efuse to extend t~me for payment or otherw~se mod~iy amort~zat~or~ ot Ihe sums
secured by th~s Mortyage by -easo~- of any demand ~nade by the ong~nal Borrower and Borrowers successors ~n,nte~est
11. Forbsaranee by Lendec Not a Waiver. Any torbeara~ce by lender ~n exerc:s~ng any r~ght or remedy hereunder,
or otnerv:+se alfordeci by app~~cable ~aw. sha11 not be a wawer ot or preclude the exerase ot any such r,ght or remedy
The procureme~t of ~nsurance o~ the payment ol taxes or othei ~~ens or c~arges by Lender sha11 not be a wa~ve- ot Lender s
ng!~t to acce{e~ate the m~lunty of the ,ndebtedness secured by th~s Mortgage.
12. Remedies Cumulative. Ai~ remed~es prov~ded ~n th~s Mortgage are d~st~nct and cumutat~ve to any other r:oht oi
Temedy unde~ tn~s Mo~tgage or aft~rc3eo by ~aw o- eqwty. and may be exerc~sed Concurrently, mdependently or success~ve=~
13. Successors and Assigns Bound; Joint and Seve~al Liability; Captions. The covenants and agreemenss
hg~e~r conta~ned sha~~ o~nd. ar.d t~e nghts hereunde- shair mure to. the respect~ve successors and ass~gn5 ot
Lender and Bo~-ower suDiect to the p-~L ~s~cns o~ pa-ag~aph ? 7 here~t A-t covenants and agreements of Borrower shali be
jo~nt a~v severa~ The capt~ans and heaU~nys ot the paragraphs o11h~s Mortgage a-e tor covernence on-y and are not to be
used to ~nte-p-et or cief~ne tne prov~s3ons nereof " •
14. Notice. Except to~ any n~nce requ~red under apphcable ~aw -o be g+ven ~n anothe~ manne~. ia- any noUCe ro
Borrotve~ pro•~~ded fo- ~n ?h~s Mortgage sna~i be g~ven by ma~lmg such notice by cert~hed ma~i addressed to Borrower at
the P~a~erty Address or at such other address as Borrower may des+gnate by notsCe to lendes as prov~ded here~r.. and
~b- any not+ce to Lender sna~l De g~ven by cert~hed ma~l retum rece~pt requested. to l.ender's address stated herein or to
such otner ac3dress as Lender may des~~nate by not~ce ro Borrower as prov~ded herein Any noUce providecl for m this
Mortgage sha4! be c2eemed to nave ~een g~ven t~ Sorrower or Lender when g~ven ~n the manner des~gnated here~n
15. Unifo-m Mortgage; Governing Law; Severability. Th~s form ot morigage comb~nes un~torm covenants to~
"_~'~ ,•,J _._r c~'"_:'!! ,.';.', •.. .t'.'1,':;~ .:~th -:r~i?.,~i vd~~J(iU'l~ rl~ ~11t15(~K:il;,n 10 CG/lShf~JIE ~i U~li~OfT. ~f'CUti(Y i~~S(fUfT~~f~r~t
"•.E'T•!1l] ~~'dd (:1::L'YtT, T~•.t- c• .t~=.f^'l ~: ~L.! 'J:.~ dr)~'I(;d~J~t i0 ~~ltc !.~i~Ii'y'dC~t 5!lai~ be the iar~s ')~ ?hf.' jJlt~jillCtIU11 IfT :~ht'~l
•,c- P•:~.~•-•'. _ t;~_~t'e-~. 7n.~' i: ' S-)~"l3'•''~tt''~~.C 51;.~,!I ~~1t ~~n::'t-ir eU{si~r acs~;~ty ot tede~a~ lav: t~slh~s ~nvr?y~1ge in'he C.cr,.~
'~'~~1~ <t'l~ • It~. .. .;~~ _ ~r.._ ' ~ ~ . .t ' . Sr . ~s~.~. ~ '~r~> - . ~ :r:~~ :~!tf1 fl(J~~:fdl:~F' ~a9Yl. ~UC~I CJ(lII!::t St',a3~~ fi0~ d~~f'(.: (~!~1~..
. ,. _. _ •~- .. . ~~, ;* • . _ - • . • .. , ,~~' :;t• c~~. •i .-trt•~ . .ni~`~~u! '±'~- r_u•~ti,Ctinr~ Prr~tiiSw~~ ~~!,~1 ,,1 r~,,S e^r: ~•ir
, _ . _ . . s ~nt' ~f . 'JS 1" . . !~~~ .. . JIL' ~:t' c!!t?I: i~i Ut' ~t'...f•r.t:!it.
16. BoROwer's Copy. Ba~-owe~ sha!I be furn~shed a contormed copy of the Note and ot th~s ~~Aortgage at tne t~me
~! e~ec::t~un o+ atter ~ecc~ruat,cn nereot
17. Transfer of the Property: Assumption. If ali or any part of the Property o- an ~nterest the-e~n ~s soid or t~ansferred
~~ g;:.rr;,:.e, ::E;nout Le~~e~ s p~w+ ,:r-iten consent. exctud~ng ia1 S~-e creat~on ol a~~en or encumbrance subord~nate to
±n,s Mertyaye ~b: '~e'c!eano~ ot a pufc~ase money secunry ~nterest for househoid app~~ances.lc) a tcanste~ by dev~se.
~escen? o+ by ope~at~on ot iari uROn the death ot a ~o~nt tenant or ldi tr,e g~ans ot any Ieaseho~d ~nterest ol three years or iess
nc~1 conta:~~~r~g a^ ~pt~on to purct~ese Le~der may. at Lender's opbon. dec~are aU the sums secured by th~s Mortgage ro be
~mmed~a?e+y Uue and pa~abfe LencSe~_ s~~aii have wa~vsd such opt~on to accetesate ~t pr~or to the sate or transfer. Lender
a~~ the u~~sen to svhom the Frc~perty ~~ tu be sotd or transterred rea~h ayreement ~n wnhr.g tnat the credit of such pe-son
~s sanstac~ury to Lenaer an~ inar the ~nterest payable on the sums secured by m~s Mortgage shaii be at such rale as Lender
;ra~~ req.:e5t !f tenUer +?as ,va~vref tt~e opt~on to acce~erate prov~ded m,h~s paragraph t 7. and rt Bo*rower's successor m
i11',F~feSi hd ~ r~"CuIEU d~V~~ile~~ assu~np~~e« agreement accepted ~n wrrt~ng by lender lende~ sha~t re~ease Borrower from a~~
~a~~ya2sG~`5 und6r Ih~S MUtiydge dnd Ihe ~.ote
11 Lenucr exe~c~ses sucn opt~on to acceterate. Lende! shail ma~l gorrower nobce of accelerahon ~n arcofdance wrtn
pa~agrac;n ~.: r~rreot Suci~ not~ce si~a~~ vrovsde a penoc~ of not fess that 30 days from the date the not~ce -s ma~fed w~th~n
;vn~ch Bo~rc,.tir~ mdy pay the sums oec~areci due t! 8orrowe~ ta~ls to pay such sums pnor to ~he exp~ratson ol such penod.
~enc~e~ r~:d~~ •~+tnau! iurtne~ n:;~~~e or derr,an~ on Borrower. ~moke any remed~es perm~tted by paragraph 18 hereot. .
NON l;P,~IFOP.~~1 COVEt~::~i{S Borro.+er an0 Lender further covenam and agree as tollows:
18. Accete-ation; Remedies. Except as provided in paragraph 17 hersof, upon Borrower's breach of any
cove~snt o~ agreement of Bosrower in this Mortgsge, including the covenants to pay when due any sums secured
by this Mortgage, Lender prior to acceleration shail.mail notica to Borrowar as provided In paragraph l4 hereof
specifying: (1) the bresch; (2) the action ~equired to cure such breach; (3) a date, not less than 30 days from the
dats ths notice is msil~d to 6onower, by which such breach musi be cured; snd (A) that failure to cu re such breach
on or before the date specified in the notice may result in acceleration of the suma secured by this Mortgage,
foreclosu~e by judicisl proceeding and ssle of the Property. The notice shall tu~therinform Bonowerof the right to
reinstate aRer scceleration and the right to asse~t in ths foreclosure proceeding the non•existence of a dsiault or
any other defense of Borrower to scceleration and foreclosure. tf the breach is not cured on or befor~ the date
specified in the notice, lender st Lende~'s option may decla~e all ot the sums secured by this Mortq~g~ to bs
immedistely dus and payabie without fu~ther demsnd and may forecloss this Mo~tya~e by judiciel proceeding.
Lender shall be entitlsd to collect in such procsedin~ sll expenses of foreclosure, includ(ng, but not timited to~
roasonable attomey's tees, a~d costs of documentary evidence, sbstrscts snd tit{e reports.
19. Borrow~r's Riyht to Reinstate. tVotw~thstand~ng Lender's acceierahon of the sums secured by th~s Mortgage
Borrower sha~~ have the ~~ght to nd~e any proceed~ngs begun by Lender to enforce th~s Mortgage d~sconhnued at any Ume
~
;
BoiiKJW P~UE1pU2