HomeMy WebLinkAbout0068K. loxpe~tivn. l~ nde~ mn~y ~uke or cauxr to tx~ madi• reaeunuble ~ ntrirx u{wn und ine{-rcliunx nf thr prup~rty, providrd lhut I.rnder ehul)
K~~'~' fiorruwer notice prior U~ i~ny such inKpectiun apec•ifyinK ~eaKUnublr cuu~e therelor rel.-ted to lander's interest in the F'roperty.
~~. Condemnution. Tt~e pnx~ctida of any awurd or claim [or di-maKre, direct or cunxryurntial, in cun~ectiun with .+ny eondrmnutiu~ ur
~~ther tuking of the property, or purt Ihen~of, or for conveyii~ce in lieu of condemniitiun, am hrreby u~-xignec! iind ehull t-e paid to l,ender.
!n the event of u totnl ti~king of the !'m~perty, the proc~~is wha-U t-e i~pplied Io the sums xerund bp thia MortKuKe, with /he ezcesa, if ~ny,
puid t~~ Burn~wrr. !n the eve~t of A partinl t.iking u[ the Ymperty, URIt':48 I;UR/~N'Pi and l.~~nder utherw•isr aKrre in writinK, there ahall be
uppli~~c~ tu the sums a~ureci by th~s blortKaKe such pro{wrtiun uf the prK•~tivle .-w is r~~ual to th~~t prupurtion which the amount of the sume
vcw unKi by this MortKt~ge immrdiulely prior lu ihe date of t~ikinK IKara tu thr fz~ir markrt ~~alue uf th~~ 1'roperty immrdiutely priorto thednte of
tukinK, with the biilancr of thr pruc~ds pfiid to I3orrower.
If tht• f'n~tx+rtv ix Hh~~nd~~nNt1 hv ItnrruwPr. or i£ after nuticr hv 1 vndNr to }turrow~r ths~1 thr ~v~ndf•mnnrnffrrA f~. ms~lcP un aw~~..~ nr oa.f~lo.,
rluim for damagea, l3urn~we~ fnils to mx~x~nd to l.ender within :i0 days nfter the datr such notice is muilyd, tAndrr is authoritc~ci tocc~Uect and
:~pply the pro:•ecrjs, at I,ender'x optii~n, cither t~~ restorFition or repuir u! the pro~-erty ~~r to thF~ suma scr.und by this MortKaKe.
Unlr:~ lAnder nnd l~rrower utherwixe aKree in writinK, ~ny such application of pnK~~~~is tu pnncipal sh:,ll n~~t exlend or pustpune theduc•
date uf the munthly ir~stullmrntx referred to in pari~Kraphs 1.~~d Y herc~c-f or ch:+nKe tt~e amuunt ot such installments.
I U. Borruw•~ r Not Neleused. Ext~•nsiun uf th~• tim~• fur p.~>~m ~nt ur m~Klifi~•.~tiun uf :imortizatiun of the ywns scrund by this MortKai~;c•
~;r.+ntE~d 1-~• I.e•nd~~r to a~~y succe.sor in intem~t of (iorrow•er sh,~ll n~-t u~x•r:-te to r~•le:~~f•, in .~n}• m:+nner, the liability of the uriKinal }iurruwer
:ftll~ I{UR~~N'l•r'..uc~•t•ti.ors in int~•retit. Ixndi•r shall nut 1H• nv~uinri tu iti~mm~•nce pnK•~~rlin~s :~~;ain:t such ,ui•~•i•ssur ur re-u4e t~, extend timi~
f~~r pa>~m~~nt nr oiht•r« i.~• huKlif}• :~murtit:~tiun ~~f th~• ~ums s~ti•ur~rl h~• thi. ~1~~rt~;u~;~• h~• n:nun ~~f :u~r drm:~nd ma~1~• hy th~•uri~inul K~~rruw~~r
nnd I;urru~~•er's sa~•n:..~~r. in intenwl.
I l. Forbexrance by l.ender Not a N'uiver. Am~ fi,rtK~ar.~m•e by t,end~•r i~ ~•xerc•isiriK am• riKht ur rem~Y1y hereunder, or c,therv-~ise
~+ffurded by .~ppli~•.ihle I:~w, sh.ill not tx~.~ w.-i~•er uf ur pre~•ludr th~~ exrre•is~• nf .~n~• such riKht ur rem.rlp.'i'he pr:K~un•ment uf in~urxnce or thP
p.~~•m~•nt of t.-xes or uther ti~•nti ur chur~;e, by (Amd~•r tihall not tH, ,- wui~•~•r of I~~ndrr'w ri~;ht to accc~lerat~• th~~ m:i:urity of the indebtednrss
;c~•urt~! b~• this MurtKay;e.
1'~. Remedi~~ ('umult~tive. All rem~Klirs pruvidcc! in this ~1ortKa~;r are distin~•t .~nd ~vmul.-ti~•e tu any uther riKht or remcYl~• under thi~
Vurtr.~Ke ur afford~~i by I:~w• ur equity. :~nd m~~~ br exerciKe~1 cuncurrently', indrprndrnlly or succ~•aaivrl}•-
l:i. tiuccessurs und Aysi~nx liound;.loint and tievc•ral I.iability; Caplions. Thr i•ovenants .-nd aKnrmrnt:~ herein cunt.iined xhall
iniiii. niiii iiii- iiK~~i~ i~rrewuirr +iuui ~uun• [u, iiu• rr~Fu~a iivi• succr~~~r~ :u~u :~sai~;u~ ui i.c•nurr .~nu iiurruw~•r, wui~jeci lu [(lt• pru~~isiunx oi
par.~~;raph 1~ henr~f. All eu~•enunt~ .~nd aKre~~mrnts uf tiurruwer shaU tx~ juint :~nd srveral. The cxptiuns and headinKs uf the p~r.~~raphs of
this 11ort~;:~tie are fur cu~~enie•mti~ unly and .ir~• not to tx~ us~~c1 tu intrrpret ur define the pru~•i~iunx hert~d.
1 1. tiotic~~. F.xi•~~pt Cur :~ny nnti~•+• re~c~uin•d u~~d~•r .~pplic:~hl~• luw• to tx• ~;ic~•n in unnlh~•r m.~nn~•r. ~:U uny n~~ti~~~• tu }torruw•i•r pro~~idiNl fur in
this ~turty;:~~;~• sh.~ll tx• Kivt~n by muilin~; sui•h n~~tice by c~•1-t~~~trl m.~il uddrrs:ct~ci tu K~~rr~~wi•r.~t thi• Pruperty Ad~iresti or at su~•h utheraddress ~~s.
Ii~~rruwe~r m.i~• desikn:it~• b~• notic~~ to L,e~der uti prcn•id~Ki herein, and Ihr am• notice tu IA•nder tihall tx• Kiven b~~ certified mail, retur~ receipt
nr~ uested, tu J,endrr'. :tddn•ss tit:-ttd hcri•in nr t~~ tiu~•h uther uddre•ss :~s l.ender m.~y d~~siKnate by noticE• tu t;orruwe•r as providcd here in. Any
n~~tii•~• pru~•ided fur in thiti 11urt~;:~~;i• shal! tx~ d~~•mw1 tu ir~~e :K~~n Kivc•n tu 13~~rrnw•i•r ~~r I.end~ r w•hen ki~•~•n in th~• manner di~tii~;natcvi herein.
i~~. l'nifirrm J1ort~aKe; Governing la~~+•a ticverability. This furm ~~f murt~;:~~;~•rum~ina~s unifnrm iYn•enanGti fnr nutin:u~l useand nun-
un~furm cm~en:-nt~ w•ith li-nit~~i ~•ariatiunv b}• jurisdictiun tn ~,~ntitituti• :- u~zifurm st~e•urit}• in~trumf•nt i~~,~•i•r.n~; ri•al pr~~{K•rtt•. "I~hiti ~1ortK:iKe
>hall ik• R~~~~c~m~Y1 h~• the law~ uf thr jurisdicti~~n in ~~•hich tht~ 1'r~~~•rty iti I~x•at.~el. tn tht•f~~•t•nt th:~t :.nc pn~~~i~iun o-cl.~use uf thiti :11urtKxKe ur
th~~ ti~~t~• ~•~~nflict, ~.•ith .~ppli~ ;~F~le I:iw•. ~uch cnnflirt sh:~ll ni~t afft~c•t ~~thc•r pn~~•i.i~~ns ~~f thi. ~1~~rtK:~~~~ ur th~• \utf~ whi~-h i•an t~e• ~iven effect
~~ith~~ut th~• i•~~nfli~~tin~ pr~~~~isiun. :ind tu thiti ~•nd thr pru~•~.iuns uf the 11~~rt~;~~;~• and th~• \utr arf- d~~clared tu Ih• st•vcrablt•.
1 f;. Bnrrow•i•r'w (~upy. ii~~rruK•rr tih:i11 t~c• furnislu~l a c-unfurmc,ci cupy of thc• ~v~~a• and of thiti ~lurty;.~Ke at the time ~~f executiun ~ir .-fter
r~•c~~rd:~tiun h~•rt•~~f.
1 ~. 7'ransfer ot tht~ Property; ~lssumpti~~n. If all ~~r :~n~• p:~rt ~~f ih~• !'r~i{x~rtt• nr an int~•r~•st th~•re•in is s~~ld ~~r transff•rred bv Korruwer
~.;th~~ut l.e~n:l~•r'~ pn~~r written i•un,t~nt, exi•ludin~; (a- th~• crt~atiun ~~f u leen ur e•ncumbrc~m•~• suhurdin:+te dr th~s ~1ortKay;f•, ~b~ the c~re.ition uf .~
E~ur~•ha~c~ mune•~• s:~•uritt• int~~rrst for househuld appliancrs, ~~•- u transfc•r by de~•i,r, d.sct•nt ur t,~• oEK~ratiun i~f !aw• upun the death of a jnint
~ trnant ur ld1 tht• ;;rant ui :~n~• leatic•huld intf•mst uf thrcK yi~an ur It•.ti nut containinK :in uptiun tu purcha,e, I,~~nder ma-.•, at l:c•nder's uption.
f~ ~t~•cl.+re~ nll ;he sums,~~•un~t by this ~inrt~;.~~;f• ti~ tx• immcYli.~t~•h• due• and pa~•.~ble. I.~~ndi•r shall ha~•e «•ai~~cd such uptiun t~~ acceleratr i[, priur
, ~ t~~thc~x:ilt•ortr:~nsfer,l.endt•randthc•Fx•nuniuH•hom~thel'ruprrt~•istntx~suld~~rtr:~n.frrr~~c~rf•:~ch.IKffY'mentinw•ritinKth.~tthecreditofsuch
{~~•r,nn ~s sati.factnn~ tu L~•n~1e•r and th,it ihr intt•r~•.t p:~c:~hlt• un th~• tiums s~•cunY1 b~• thi~ V~~rt~;a~~• shall Ix• :~t such r.de a~ I.em-iF•r chall
nr~ut•tit. If !.t•nd~•r has wai~~t•d th~• uptiun tu ac•ct•It•rate• pr~n•id~•ti ~n thi~ p.~r.~Kr:iE,h I;. ::nd if finrn~w~•r'~ su~•cE::sur in intf•rfr~t has exeevt~~cl a
•.~ ntt~•n :issumpti+,n ay;m~•:n~~nt :i~•ceE~t~•~1 ~n w•ritui-; b~• Lt•m1er. L~•ndt~r shall reie•.~st• liurn~w•i~r frnm :~II ubl~~ati~~n. un~?~•r this 11r,rtKxKe and the
\ ~ ne•.
If l.~•nd~~r ~•z~•r~•i.~•v .ui h nptiun tu :i~•~~~•le•r.itr, I.~~ndt•r ~h:~l! m:ul fSurrv~w~•r rn.t~cr uf a~•ci•Irr.~tiun in :u ~•nnlitl7CP K"7IF1 ~ar.i~;raph 14 hercr~f
~u~~h nntir~• ~h:~U pn~~•~d~• a pe•n~H! uf nut 1~•s~ th:~n :ind:~y~ fr~~m th~~ ~i:rt~ th~• n~~h~•~• i, ~z.:ul~~i w~thin ~~~h~~~h li~~rr~n+•e•r mat• pa~• thrsu~ns df~clarE~
~iut•. If K~~rn~~-t•r tuil~ tn ~~at• sui•h .ums pri~rr c~~ thr rxp~r:~u~m uf tiu~•h ~N•n-~d, I.~•nd~~r nu~~•, ~~•ithu:it furth~~r nnt~~•c• ~~r dE•mand nn IS~~rruw•er,
in~~~~ke :~n~• rt•mt•dit•s pi•nn~ttwi h~~ ~r:~ra~;r:~uh I~ h~•ny~f.
1H. Acceleration: Ke•medies. N:xce~pt i+s pro~idi~ in pariiKraph 17 hrr~~-f, u~x-n Korrow•er's bret~ch c>f any covenant or
.~Krerment ~~tKorrow•er in this -1ortKak~•, includinK th~• co~•ensintx to pt+y wh~~n due any sums yEKUred by this Nortgage. Lender
priur tu accelerat iun wht~ll maiil not ice to Korrower s~s providtYi in paraKruph 14 herw~f ypecifying: (1) thc~ brexch;121 the action
ri~quired to cure- such brearh;l:i1 si dt~te, not IcyK than :311 dxys frum thi~ dxte the notice is mailed to Korro~a•er, by which euch
hretich must b~• cun~cl: and (•11 that failurr to cure such brea~•h on or betore the dtile e,prci~ed in the notice may result in
ai~celeration oithe tiumti tiecured by this 11ortKaKe, toreclu+uri• by judicit~l prucreding and yaleofthe Yroperty.The noticeshall
further infocm BorruK•er of the ri~h1 to reinst:~te aifter iit•~•el~ rition und the right to ar-sert in the fi-reclusure proceeding the
n~-n-existe~ce of a default or tiny other detense of liurr~iw•er to acY•t~leration and forecloyure. If the breach is not curc~ on or
h~•fur~ th~~ date spt~c•ified in the notire, L~~nder s~t L~•nder'h upliun may d~•c•lare ell of the sum~ ycrured by thiK ~lortgage to be
immi•diat~~h• du~~.~nd p:~yfibl~• v-•ithuut furth.~rd~•mund and ma~y tur~~clu~rthisbtortKage by judicial pruce~•din~. L~•ndi~rshall be
~•ntitl~~d to collert in surh proceedin~ all ~•xpentir~: uf for~~clutiur~~, ini•IudinK, but not limitecl tu, rcar+un.ibl~• aUorne~•'~ fee!;, and
r~~tits uf d~tt•umentsin• evidenre, abwtrac•tx and titlc• ri•portti.
14. ITorruw~er's IZiKht to Keinsintt~. ti~,tw•ithstandin~; I.~•ndt•r', ac~•.~I~~ration of thr tiums sec•urtd by this l11ortK<lKf', I;Ilr1'11N'('r sh.ill h:~rr
the nKht tu ha~~c• any pnxtr•din~;s FwKun b~• lxndc•r to ~•nfur~•e~ thi~ \1~~rt~:iKr discontinaecl al any time prior tn entry uf a judKmf•nt enforcinK
this MnrtKaKe it: (al K~~rr~~K•er pa}•s (.E~ndf•r all ~ums whi<•h w~~uld fx~ then due under this :11~~rtKaKe, the I~iote .ind notrs scY•urinK Future
:~dvaners, if an~•, had no accrleratir~n ~K~currtd: ~ bllinrmK ~r ~•un•~ ;+U hrrai•hrs of any oth~~r covenantx or aRreemenLs ut I~~rrow•er contained in
this 1L~rt~;:IKf`: IC) 1i~~rn~w~e•r p:~y, all reatiunabl~• expe~ntit•ti incurre~l t>y I.c•nder in enfnrcin~ the rnvenantz+ and aKreemenLS of Iiorrower
cuntaim~d in this Mr~rtKake and in enfnrcin~; I.c•nd~r's re•m~•di~•.:ih prm•ided in par<iKraph I K hereof, includinK, but not limitr•d tn, reasonable
atturnc•~•'s ft~cs; :~nd ~ ri ~ I;~~r.~~wer taketi ~uch actiun a~ I.er.der m:~}• rc•.-~~in.~bly reyuire to ar;surr that the lien of this 11ortKaKe, l.endei s interest
in the 1'mperty s~nd fi~,rruw•~r's ~~bli~.itiun to pap the.umti secur~~~f by th~w ~1ortK:~kr shall continue unimps~irrd. l~~~n such payment and cure
by li~irroK•er, this D1urtKaKe and the nhliKSl~l~1pS SfY'UffYI F7Preb~• tihall remain in full furce and effrct a:; if n~~ acceleration had occurred.
?0. Adsi~nmcnt ot Nents; Appointment of Neceiver. As additir~n.il :security hc•reunder. }3urrower hPreby assiKns to I.enderthe rent~
r~f thE~ }'r~~pe•rty, providc~l that f3~~rruwer tihall, prior tu arceleration under paraKraph lri hereof or abandonment otthe F'roperty, have the riRht
tu collect and retain such rents as thc:y becomt• duN and payaMe.
U~~n acceleratinn under paraKraph IH hercK~f er abandi~nment of thc~ Pro~erty, I.en~ier ~h.~ll be entitled to haee a receiver appointed by a
i•uurt to enter upm, t:~ke pr~ssrtisiun of and m.~n:iKe the Yrupert~ and tn collect the rentr, o[the Yroperty, includinK those past due. Alj rents+
~•r,llectecl by the receiver shall t-r applied first tu papmrnt of the cosGti of manaKement of the Propert~• and collection otrents, including, but not
limited to, receiver's fe~, premiums un nreiver's M~nds and reaso:iahle attorney'R fees, and then u~ the sums secured by this MortKage. The
rec-eiver ~;hall t~e liable b~ acrnunt only fnr those ren6v .~~tually rec•eiv~l.
~~.~:x 351 }~~~~E ~7
:
_s
__. ~ ,.~._ . _ _ ~- ~ ~_... _. ~_.