HomeMy WebLinkAbout25261 cnder'c written agrermen~ or applicat+le I~w. Bo~rowtt shall pay 1he amcw~t of all mort6a6e insuranct ptemiums in the
mannrr pruviJcd under parag~aph 2 hercot.
Any ami.untc dichun~~f by I cn~kr purcuant ta ~his par~6raph 7. w~th u~~ercct thereon, sAaJ) become additional
inJeh-cdnrcc ~~1 B~nroNrr cccurcd M• thic Mo~~ga~e lJnlt-~~ Borrowrr arxl 1 enJer aR~ 10 Mhlt'tenns c+/ paymeM, tuch
am~•uM< <hall Fx pavaMc u~x.~ n~airc tn.m 1 c~der to &~r~uwc- rey~xctinR paymem thettaf. and chal) F+tar iMercst from tAe
da~e of dichurcrmenl at Iht ~ate pavahk trc-m time to hmt ~x~ a~IctandinR principal under the Nde unkst psyment ot
intrres~ at such rale w•ou1J he contrarv ~~ applicabk law, in w•hich e~~ent ~uch amcwntc chall heat intertst at the hi~hest nte
permissihle under applicaMe law•. NathinR c~•nt,~ineJ m ~hic ~-areRra~+h 7 chall requirt 1 ender to incur any expeene or take
any action hereunder.
8. Idspecfbp. I enJtr may m~~.e .•r ca~~.c k~ he made rtaux~aMt eMriec u{+on and inspettioos d the Ptopettr• pro~-Kkd
thal I ender shall give &-rr~.wet ne~t~cr pri~a ~i~ ~m• .~k~ ~nspecaon cpecityms rcuonabk cause thetetor related to t.ender's
mterccl in Ihe Propertv. ~
9. Coedemnafbe. TFrc pmccrdc o( any award ex claim for damases_ dineet ar coas~quential, in eonnection writh anr
condemna~ion or dher ~akin6 af the Propeny. cx pan tAercot, o~ for cooveyanoe in lieu of condemnatio~. are heieby ~sqeed
a~d shall be paid to Lender.
ln ~he event ot a total takin~ of the Pmperty. ~he procoeds chall be applied to the uims xa~-cd bp this Matssse.
with the ~+cccss. if any, paid to Borrower. 1~ ~he event c+( a partial uki~ ot the Propert~-. onkss Bonorrer and I.e~der
othervvice agree in wriling. there shall be applied to ~he cums sauted !ry this Mort~aae such proportioe ot the q~ooceds
as ia equal to that prc~+ortion K•hich ~he amount of the wmc secured bp this Mort6age immediately pri~x to the datt ot
taking hears to th~ fair market vahit of the Pnq+crtv ~mmediattly Fxic+r to ihe datt ot Iakin~. with the balanct of the procetds
paid t~~ Bormwer.
If ihe Pmpert~• ic ahand~rted h~~ Bc•rmwer..•r if atler notice I+v 1 endtr to Bormwer that the tondemnor oAers to inake
an award c.r aeltle a claim t~r damaic.. H~~rr~wer fa~l. t~. rel~x+nd t~ l.ende- witAin i0 days atter the date such notite is
ma~led. I.enJer ic auth~.riard to c~llect and ~~~i.• ~~ ~~~_ ,~ 1_cnde~ i c-Mioo. either to ratontion or repair d tAe
Pm~xr~~ or M the ~um. .ccured h~- th~c M~•r~~aec
~%i~~«: ~ r+~.ic~ e~~~ isa~~tuv-c- aNAt~w~ti agrec in ..rit~ng. anv su~i- a~~ii~sin~n v~ ~ifa7LfiVi {O ~~iiKi~li iiN~ iia~ iiieiK~
~r ~x.~tpi~nt Ihe due da~e c.f tht monthlv intlailmcnts refcrred lo in para~traphc 1 and 2 he~eof ot ehanae the amounf o~
wch inslallmentc
10. ~rower Not Rekssed. Fitension of Iht time /or payrtKnt or mc+dificaticm ot arrtortization ot the sums steured
by this MortRage qnnted bv 1 ender to any cuccecscN ~n interect of Borrrn-er chall ne+t opente to rckase. i~ sny maener.
the liahility of the ori¢inal Bonow•er and Bc+rrovver's sacccsu-rc in interesl l.ender shall nd be requind to commence
pn~ceedin¢s aeainct aich a~ccecsnr cx rrf~Ke ~~ e~~~~d ~~r.~ r..~ N~~~r M otherv--i~t modifv amortizat~ of tht s~~ms
~erured hy Ihic M~rtgage hy rcauin ot any demand made b~• the orieinal Bor-~.vve- and &.nower s successon in imerccl.
I1. Fo-bearance bv I.eeder NM a Wdrer. An~~ fc.rF+earance by l e~der in e~ercicinR am right or remedy hercimder, ot
:~therwix atTordcd h~~ applicabk law. shall nM 1+e a waiver of or p-eclude the ecerrise of anv such ri~ht or remedy.
The procurcment oI insurance pr the payment oI tates c~r cNht~ litm c•r charRec by 1 ender shal! rx-t he a waive~ of [~ndePs
right lo accelerate ~h~ mawrity of the i~debttdntcs ~ectrrcd h~ thic Moirtgage
12. Remedies Cemulsti~e. All remedies pro~•ided in this Mort~talte arc distinrt and cumulative to any olher riaM or
remeJy under thic Mortgag~ or aRorded hy law or equi~y. and may t+e e~erc~ud ccx~currcnNy. independenNy or :ueeeuively.
' 13. Seccessors and Assi~ws eonwd: Joiwf awd Sereral i.~: Cs~tiows. The cmenants and a~eemrnts het~in
contained chall bind, and the ~iRhtc hercunder shall inare to_ the respec~ive succesu•rt and assisns of [_ender aod Borrower.
~ubjtct to tht provisionc o( paragraph 17 hertot. All covenants and agrrementc ot Bo-rower shall be joiry and sev~enl.
The captions and headingc of the paraeraphc of thic M~nRaRt are f~~ convemence only and are txN to be -ned to
interpret or define the provisionc herrn(. ~
l/. NMice. Except tor any ncaice rcyuired under applicabk lav- to be 6iven ~n another manner, fa) any noti~e to
Rorrower pr~ovided for m lhic Mnrt~a¢~ shal) be grven M• m~ilin~[ uxh not~ct by cert~ficd mail addreixd to Borre+wer at
the Properiy Addresc or at ~uch other addresc as B~~rmv-er ma~• dccignate bv rxWict to 1 endet as p~midsd hertin, and
/h) am~ notice to I_ender shall he R~ven h~• cert~fied mad retum rece~pt requected. to 1 ender s addrrn stated herein or to
~uch ~~~hcr addrcsc as 1 ender may deci¢nate by ru•ti;~ tc. B~rmv-e~ as pro.~drd herc~n. Any notice pmvided for in this
\1~.rtgage shall be deemed to ha.~ heen F~.en to B~rr~~we: or t.cnder xhen g~ven in Ihe manner deci~nated hertio.
15. LJoitorn~ MorlRa~e: Gorerni~ I.an: Se.erab'lit~. Th~e /orm of mortEage combines uniform covenants for national
use and non-uniform rn.enantc v-i~h limited ~anat~o~c M ~ur~ai~ctu+n to rnnsNtute a uniform secur~ty instrument eoverin~
rtal property Thic Mortgagt shall l+e ~toverned h~~ tht law of the juntdect~on m which the Property ii located. In tht
event tha~ any provision or claust o( thic !1lortga~r ~r ~he '~~te conflictc Nith applic~bk law. such conAict sba0 not afktt
other provisiuns of thic MortgaRe or the Nntc wh~ch can t~e grven efFr.t wi!F~out the conAictin~ provi~ion, and to this
end the pr~~visi~ns ~t ~hc M~rtgage and the Vo~c are .kclared to he uvenbk.
16. dorrower's Copv. Borrc~wer chall hc furm~hed ~ rnnfnrmed rnpp of the Note and of this MortEaat at the time
of euurtion or after rernrda~ion hereof.
17. Trsnsf~r of tAe PropM~~; Acsumpliow. If ali ~r a~y part of tht Pn.perty or an mtercst thercin ic st~ld or t»nsferred
by Borr~wer w~thout I.ender's pnor wn~r.n .~.ncen~ e~cluding lal tht creation of a hen c+r encumbnnct wbordmate to
iMs Mortgage. Ib1 Ihe creahe.n ~f a pur.h~~e m~~ne~ ~ecunty mterest for hou-sehold appliarxes. Ic) a ttanc[er hv devise.
descent~or by ~{xration o( la.. upon the .icath ~! r ~~•mt temnt or fd~ the ~trant of am kasehold intercst af threc Yean or kss
not contain~ng at- ~ption t~ purchase. ( ender ma~_ at ( ender'a opt~on_ dec!.,re atl tht sums secured by thn M~rt~aEt to bt
~mmed~ateh duc and pa~~ablc I cndcr chall h~~c M.~~.~cd such opt~cM- to a:rrleratt ~t. prior to the cak or tnnsfer. Lender
and the pers.~n to whom the ProE•eriv i~ ~~~ !+c ..,I.) or transferred rexh a~rc~ment ~n wnt~n~ that the credit of euch percon
is sans(actor~ to Len.kr ar-d tha~ the +merc.i pa~abk on the sums securcd by this Mortgase shall be at such rate as Lender
shail request. I( I ender has w•aivtri ~he opt~on to accelerate provided ~n th~s p~ngraph 17, and if Borrower i successor in
mterest hac etecuted a wniten ascumpi~on agrecmem xcepted in wriun6 by i_ender. Lender shall rekase 8orrovrer f~e.m all
obligat~ons under this Mortgage and Ihe Vcxe
If I.ender e~erc~ses such opteoa 1~ acie(erate. LenJer shall mai) Borrower notict of xceknt~c~n in aceordan« w~~h
paragraph ld hercof Such not~ce shall prov~de a penod of no~ kss than 36 days from the date the notice is maikd with~n
..•h~ch Borrower may pay the sums decla-ed due 1( Borrower fads ro pay such sums prior to the expira~~oo of such pencd.
Lender ma}'. K~tfiout (urthcr not~ce ~r dcmand on Horrov-er, invoke any remed~es perm~t~ed by pan6raph IR hercc.f.
,`~O!v-(~NIFOltM COVEV~NTS Bor~ower and Cender turther covenant and asrce u fdlo~ws~
18. Accek~slio~; Reenedia. E:cept as lrovYe~ i~ NraSraN 17 bereol. ~o~ i~nwers M:sci ot a~y ce~taN K
atreea~eot o1 Eorrower iw tAis !-1ort~a~e. iwch~djaR tl~e co~e~aNS Io My w~e~ Me aq s~ws sccnd h tl~k M~rtRa~e• ~.ewie~
prior to ~ccelcntbs sAall majl wotice to dorrower as ~ovi~e~ M~rs/1~ 1~ Aerea/ s'ecM~: ll- tbe l~e~c~:/211Ae seti»
req~ired to core socb brescb: (3) a date. wot less tl~aw 3! >ays tru~ tre iate t~e ~etke b aYej N~er. ~ R1~ki~ sxi
b~each mnsl be c~rcd: a~d (~I ~Aat fail~re 1o c~ue s~cA kescM e~ or ret~ne tbe i~ s~cciie~ t~ tAe wo~ice ~sr res~lf i~
sccekration ot tbe srrws secrrrd by tAis MoA~a~e. h~eclssrre b~~ N~L ~w/ ~Ie ~1 tbe he~ery. 71e wstite
sh~f E~rther ieform do~wwer ot tAe ri~M to rei~e atler acceieratisw aw/ tre ~M N areA i~ dit f~+tel~t ~e~eei~
t6e soo-e:istcnce d s dctiYll or aay otlKr Aetew~e o/ ~o~r~..e* N~ccekeathw a~i /KCCIMwe. M 1!e ~ee~c~ is ~M ewe~ N
or betore the d~~e sPecifiea iw tUe wotice. LewAer st 1 ew~e~'s ~ti» w~ icelre r~t tre ~~s see~ i7' A4 M~AR~e Is 4
~m~e~~~~y e~ ,~a ~.y.w~ »N~e~ r~~~. a~~and ~ wuy f~atlose If4 M~rliate y' j~iicW M'~tK~fwl. I.tn~ler ~
be eatiHed 1o colkc~ M srcU ~roceediw~ a~ etpew~es .r( /o-ecbs~e. iwcl~i~. ~1 ~et ~ N. re~sew~ik sn•xweti's fees.
and costs of doc~weMary trfdewce. absrrsca ~wd ~i~le eep~s. ~
19. dorrona's Ri~ht 1o Reiwstate. Vo1w~lh~trnd~n~ 1 tndets ucelerat~on c~ the suma securcd sy ~A~s Nonaate.
Borruwer shall havc ~he r~gh~ ~o h~.c r~~ pr.wr.d~n.. hr.u~ b) L~ndcr to cnt~•r:t this NorlgaRc d~u~~ntmutd at am hme
. .~,:350 ~s~2524