HomeMy WebLinkAbout24301~ndc~'~ v-nttcn agrc~mrnt or apphrable tuw Hurruwrt ShaU par thr an~~~unt ~•( all m~,rtgagr in~urance ptrrniums m Ihe
m.~nnrr pr~w~dr~l undrr para~;raph 2 hrrco(
:1n~' anuaint~ di~hnr~r~! h~ 1 rn~ict punuant ~~~ Ihis ~:~r.~~r:~~,h 7, ~,,~!~ l~i~rn•.t thereun. chall txc~~me add~tiunal
~n~ichtrdn~•» ~~f liu~r~~~~rr ~i•curc~l h~' ih~~ \1urt~.~~r 1'nlc,~ N~~rn~~+rr .~n~t ( rn,Irt aF~rrr 1~~ o1hC( 1tt11tf of Qaymcnt. ~uch
anu~unh ~hall tx• ~.~t'ahlc ii~~un mdiir It~~n~ I rndrr 1~~ It,vn~~: r rc~~uc~~int• {~:~vmrnl Ihcic~,f. a~id ,h~ll hcar intcrecl from the
~ia~r ~,f i1i.h~u~rmrnt at ~hc r.~tr ~:~~•ahlr (n,m timr t~, ~ime .m ~,~H~t:~ndin~ ~r~n,-ip:~l imd:~r thr Notc unlc« payment of
intcrrct at surh ratc w~ul~l tK c~mtran~ ~~~ :,p~h.aM~• l.~~ ~n ~.h„h r~cnt ~uih ;un~~unte ~hall t~.rar intere~l al Ihe highrd rate
permissible under applicahie I~w. T`~~thi:i-~ <<mt.unr.l ~n th~. `.~r,,~ra~,h 7 tihall rcyu~rc 1 rndcr tn incur any ex~xnu or take
a~y action hcrcunder.
8. Inspection. 1 enJer m:i~ m:~{,~• ~~r ~.~~~,c ~~~ hr m:~dr rr.~~„n:~Mr rmrie, u~wn .~nd in.pection~ of the Property. provided
thal 1 enJer .h~l! Rivr R,~rr<~wer n~~~,cr ~n,a ~~~ ,,n~ ~u; h:~„~x.twn .~xc~(v~ng re.,cunable cause therefor related to l.ender's
inlerest i~ thc Propcrty.
9. Condemnation. The pr~k~redc ~~f anY :lN;~rd or claim for damaees, dircet or conuquential, in eonneetion with any
rondemnation nr Mher taking of ~~e Property, or part thereot, or fur cunveyance in fieu of condemnation, are hereby assigned
and shall be paid to l.ender.
In Ihe event af a tota) taking of thc ProFxriy. thc pnxeeJs shall hc applie~l ti~ Ihc se~ms secured by this Mortgage,
with the excess, if any, paid to &xr..wer ln ~he rvem c~f a partial taling uf !hY Nroperly, unlecc Borrower and Lender
otherwis~; agree in writinK. there shall tk aprl~eJ t~~ thr ~ums secured hy thic M~rtK:ige cuch proportion of the proeetds
as is equa) to that proportion which ~hr amt~u~i~ ~~f thr ~um. tiece~•ed hy thi~ Mort~a~:e immediately prior to the date of
taking hears to the fair market value uf ~hr Pru~a•r~~ ~minrdiatrh• ~r~r m thc ~iatc ~~( takinti. with the halanre of the proceeds
p:~id t~, Bormwer.
tf the Property ic ah~ndc.r,e.l h~ B~~rr~~..•rr .,r ~f .~ftcr m~tire hv 1 ender t,~ R~+rr~~v~-er that the rnndemnor ofTers to make
an a~ard ~.r settle a claim fi~r dam.i~r,. B~~rr~~~~•r f.,~l. t,. rr.~md ~c. 1 en~er K~thm Zf~ i!a}~ :+fter the Jate such notice is
ma~l.,.'. I.inJer ic auihori~rd to a•llect and .~~4~1~ thr pr~k-ecd~, al I enJer'. i~4.li~n, either to rectoration or repair of the
Pm~x:~y or i„ thc .um. .rrurcJ hi thi~ 11~,rrL:~e~
Unles~ I e~der anJ Borrower ~therw~.r :iFrec ~n ~~ ritine. anc ~uch :ip~lic~ti~n ~f pmceeds to principal shatl no! extend
~~r pcxtExme the duc date ~~f the nlonlhl~ ~r.~t:~llmrntc referrrd t~~ in ~~a~aFr.~~,h~ i and 2 herenf or change the amount of
euch inztaflmeret~
10. Borrower Not Rele:sed. I-xtent~on ~~I Ihr i~me f.~r p:~~menr ~,r m~~dificati~n o~ amortization of the sumc secured
hy th~~ M~~h~age ¢ranted h~• 1 ender to any .ucce~.~~r ~n intrrr,t .~f R~rmN~•r .hall n~t ~perate to release. in any manner.
the hahilitV of !he ori¢inal Aorrower and Borrower'~ cu:cr,•.~.n in intere~t I ender chall nol be required t~ enmmence
pr~v,ee~ling~ :~g:~inct cuch suc~ecsor or re(uce't~ erten~i timr fc~r pa~mem ~~r ~then+~i~r me~diiy amortizat~un of thr ~~~ms
~e:ured by thi~ M~~rtgage hy rrac~~n of any demand made h~ thc c.ri~~nal R,~rn~~er df1ll ~l~(fl~K'l'fS succec~on in intrrcct.
' 11. Forbearanee by [.ender tiot a R'ai~er. Am f~~t~arance h.• 1 ender in eterci~inK ~m• right ~~r remedy hereunder, or'
~therwise afTardeJ hy applicahle law. shall n~t tx a wai.•er ~f :~r precl~ide the crerc~se of am• ~uch right or remtdy.
Thr proc~~rement ~f insurance or the payment ~f tare. rr c•ther lienc ~~i .har-;~c h~• I ender ,hall nui M a Naiver of I.ender's
right t~ accelerate the maturity of the indebtedneti< <crurrd h~ th~~ ~1~rt¢aKe
12. Remedies Cumulative. All remedies ~rrn•~u+ed in thic Mc~rtgaee am distinct a~d cumulative to any other right or
remeJy under thi~ MoncaRc or ati~•rded hy law ~~r eyui~y. and ma} he e~erc~ced r~~ncurrenlly. independently or suceecsively.
~ 13. Successors and AssiRac Bound: ~loint and Se~eral I.iabilit~; ('aptiont. The c~ivenants and agreementc herein
containtd chall bind, and the riRhtc hereunder s'~all imirc t~~. the re~pective sucret,~rt and acvgns ~f I ender ~d Bormwer.
wbject to the pravicionc of para¢raph ~7 hereof All c~ven:~mc and acreements ~f Bormwer shall be joiry and several.
The captions an.) heaJ~ngc of the para¢raph~ ~f thi~ M~~rtg:~Ra are f~~r cam•en~ence only and .,rc not t~ be uce~ 10
~nterpret or define the prrn~~sion~ hereof.
!4. Notice. Etcept for anv ~~~ti:e rryiured un~ler apE~li~aMe law n~ he g~ven m anr~ther manner. (al any notice to
B~~rrower provided f~r in thi~ M~rteaee tihall he g~vrn h~ mailinc ~uch nc~t~ce h~ :rr~fied ma~l addret~ed to Borr~wer a~
the Prc~perty Addrecs or at such other ~ddrr~. ~c H~,rr,~.+er m:+~ dev~natr h~~ n~~1~_c t~. 1 ender as provided herein, and
(h- anv notice to Lender shal) he gi~cn h~ certitir.l m.~~l re~!~rn rrcr~pt reyue~ted. t~. I en~ier'c addrea stated herein or to
~uch uther addres~ as (ersder ma~ dr~ien:,tc h~ ro~!~.r ~~~ F3.~rr.~~cr :is ~rr.~dr~i hcrem Am~ notiie pr~vided for in this
~1~~rtgage shall be deemed t~~ ha~c t-crn g~~rn ti• B.~rr.~..r~ ,~r I rnder Hhen g~~en in the m3nne: de~ignated herein.
15. Uniform !-torlgaRe: Gnvernin~ f.a..; Se.er:~bilil~. Ih~. i~~rm uf mi~n~a~e ~t~mhfnes uni`orm ~ovenants for national
use an~i non•uniform r~.venant~ with limite.l ~anat~.~n. h~ ;,~n..i~rt~rn to c~nc~:tute a i~n~form secunty instrument covering
real pr~Fxrty Th~c Mortgege shall be g~nrrr.rd M thr !.~~ n[ the ~unti:lichon ~n which the Property is located. In the
event that an}• prov~sion or clau~e ~f thi. !11r.rt~;~e~• ~~r thc \r.te ~e~nflicte with ~p~licable law, surh rnnflict shatl not affect
other provition~ of this M~rtgage i~r ~hr T~~~tr wh~ch ~an hc ¢+:en efiect .-ithc~nt the conflirting prm•icion, and to this
end the provi~ionc of thc M~~rtgagr and thr 1~~tc ~rc .1r;l.~rc~i t~~ hc .everahle
16. BQfTONlf S CuP3. Borr~~N~r tih.ill tx~ furn~~nr~i .~ ~c~nf~~rmed cup~ <~f the Note and of th~a Mor!gage at the time
~,f e+eecution or after rerord:,tiun hererf
17. Transfcr of tbt Propert~; Atcumpliun. If ali ~~r an~ part o.' ?!~c Pn~pcrty ~~r an interest theYein ic snld or tnnsferred
by Borrowcr ~+rthc~ut Lender's pn~~r wntr~n ~,~n.cnt c~.luding ~.~f the :rceti~~n of a Len or encumbrance sutiord~nate lo
thic M:~rlgage. (hl the creahnn i~f :i ~~ir,h.,.r m~•nr~ «.~iritti +~teres! fc~r h~~u~eh.~ld appl~ances. (c) a tran~fen c~ devise.
descent or hy c.peration of law upan the ~!c~th ~~f e i~ ~+r~t tenar.t c~r (~f ~ the ¢rant rf am teacehnld interest of three years or less
no! containing an option t~ purchase. ! rn~ier m.~~ at I ender'. ~~~.t~~m. de:!.~r;~ :+!I the sumt cecured hy this tilc.rtgage to be
~mmed~atels• due and payahle I rnder chall h.~.r ~~.".~d ,~,c!: ~•pt,~,n te~ ,,. .~~Irrate if. pri~r to the ~ale or transfer. Lender
and the pert~n tr wh~~m the Pri~pertv i~ ~,~ hc .ri,l ~~r ~r.~ns(errrd reach ~grr.r~~ent ~n wntmg that the crecht i~f wrh peROn
~c sati~fact~ir}~ to I ereder and that thr ime~~•.e ~;~~ ehic ~~n the s~~m. ~erured h~ this M~rlRage shall be at such rale a~ I.ender
shall request If 1 ender has wa~ved thc rF~r~r~n t,~ ;cccler,ne pr~~viJed in th~~ pera~raph 17, and if Bormwer'~ wceessor in
~nterest ha: executcd a wntten as~um~uc~n e~;rcemrnt a~ccptcd in writ~~g b} t ender. Lendtr shall releace Borrower from all
ubligations under shia Mortgage a~d thc Vr,t~
If I.ender exercices cuch opl~c~n t~~ a~:rl~:,,sr. Len~'rr .h~l! m~il Bc~rmuer nohce nf accelera:~~n in acc~rdar... ~~~~h
paragra~h 14 herenf Sueh n~~tice ~hall pn.v~de a~n~~d of n~~t Ies~ than ZO days from the date the notice is mailed Kithm
which Borr<~uer may pay 1he tum~ de~~~red diie If H~rro..er ta~l~ to pa} zuch ~nms pnur t~ the expiration rf e~~ih Ex•n~xl.
I.ender may, withuut further not~ce ~~r ~irmand <~n kir~rn~w~r. ~moke any remcdies perm~ued hy paragraph iR hercof.
NOfJ-UNIFORM COVENAVTS Borrower and t end~r further covcnant and agree ~s follows-
18. Acceleralan; Remcdics. Except a~ pro.ided in p~raRraph 17 bereo(, upoa dorrower's brrach ot anr corenanl or
agrerment of Borrower in this 11ortRaRe, inc{udinR the corenants to psy when due any sums secured 5y thls MorlRry~e, f.ender
prior lo ~cctlention shdl mail nolice to Borrower as pro~ided in paragnph 14 hertot specifying: (1) the Dre~ch: f21 the actbn
required to cure such brcacb; 131 s date. not I~ss thsn 30 da.s from the date 1he notice Ls mailed to Borro..er, by ~.hich sucA
breach must be cured; and (4- IA~t Eaiiurc lo curt such bresch on or Dc(ore Ihe date speci6cd in Ihe notict m~y -ecult in
acceleration ot Ihe sums secured br this MoriRa~e. fonclosure by judicial proceedin~ and sale ot thc Ptaperty. The notke
shd) further inform Borrower ot Ihe riRht to ~einctsfe atler sccelerstion and Ihe ri~ht fo ~sert in thc fortclosurt procetdit~
tht non-e:istence o( a detsulf or sn~ olher defence of BorroNer fo accelerstion and toreclosurt. If Iht breach is nof cured on
or before Ihe date specified in Ihe nolice, I.enAer at I ender's option may declart all of Iht sunit secured by this MoA~~t fo be
immed'utely dut snd payable wilhout (urtber dem~nd and may foreclost this MortRa~e br judicial proceedln~. I.ende- chdl
bt eotitltd to colltet fn such proceedi~ sll expentiet ~~( foreclocure, includinR, Dut not I~mited lo. reasonsble al~.rrne•.'s fees,
and costs of documentary evidenct, al~ttr~cls and Ii11e reporls.
19. Borrower's RiRht to Rtin517/t. ti~~1•a':(h~tnr.itiu~ t r~~tcr't acrclcr~tu~n nf ~he wmc .ccured by th~s M~~rtgage.
Borrower shal) h~ve 1he right tc. heve anti ~rr,e~,1~•~;. `.r„~: ~~, Lcnder !;~ rnl:~r.e thn ~t~~~rrg:~¢c d~~r~~ntir.ue~ a~ .,n~ time
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~ ~.~~ 351 F a~~E 2426