HomeMy WebLinkAbout24611 rndcr'c wnucn agrc~mrnt ui apph.able luw Hu~rower shall pay thr am~~unt iif all mi~rtgagC imur.~nie prem~umc in Iht
mannrr p~~~vidr~l under par,~~;~aph ~ hereot
Any ~muum. Ji.hui,r.l h~• i rn~lcr punuant ~~~ this par.~graph 7. w~th ~ntrrc~l Ihcrcun. chall hrcomc additic~~a)
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am~~unt~ .hall Fx ~~a~~:~Mc u~~~n n~~ti~c fr„m 1 rndrr tu Bi~rn,Nrr rryuctiling ~:~vntrnl ~hcre„(, and;chall bC:u i0tercct fmm the
d;-tc ~f di~hunrmcnt at Ihc r:~tr p:~~~aMr (r~~m timc t~> >ime un outclandinR pri~rip~l undcr the Notc unkcc paym~nt of
intere~t ~t such rate would t+e ramran• a~ appl~raF+Ir law, in wh~ch rvent ~uch am~~untc ~hall hear interect at the highect rate
permissihle under apphcahle IaK• N~~Ihin~ ~uni.~ined m ~h~. ~:~raKraph 7,hall rcyuirr i.ender to incur any expense or take
any action hereunder.
°a. ii~~~iiun. i cnuc~ m'r~• n~ai,e i~r i an.u t~~ hc rn:~Ue rca~~nai~te entnee uEx~n and im~x;c~ionc of the Property, prov~uee
Ihat 1 cnder ~hall Ri.•c Burn.N~rr ix,~~.c ~r~~~r ~~. ;~ny .urh inti~xct~on ~~rify~ng rrasonable caux therefor related to Lende~'s
.intcrcat in the Pro~x:rty.
9. Coademnafion. The pr.xeed~ ~~f any ;-N~rd or claim for damages. direct or co~sequential, in conneclion with any
condemnation or other taking of the Property, or part tl~ereof, or for co~veyance in lieu of condemnation, are hereby assigned
and shall be paid to (tnder. .
In Ihe event of a total taking ~f ~he Pmper~y. the prckeeds chall he applied to ~he cums secured by this Mortgage.
with the ercess, if any, paid to Barrox~e~. In ~he event of a partial saking of the Property, ~!nlcsc Borrower and Lender
otherwice agrce in writing. there shall he apptied t~ the ~ums ucurrd by thic Mortgage such proportion of the proceeds
as i~ equal to that pro~riion which .th~ :im~~un1 ~~( ~he sum~ cecured by this Murtgage immediately prior to the date of
taking bearc to Ihe fair marke~ value of the PruM rtv ~mmediately pric~r to the date of taking_ with ~he balance of the proeeeds
raid t~ Borrower_
If the Property ic a!~and~~neJ h~ Ri~rn.wrr. ..r iL :~fter n~~tice bv 1 ender ~o Rc,rre.wer that the condemnor aHers to makt
an award ~r Set11e a claim f~r d:~m.i~~.. B~~rn~urr (a~l. ~~. rr.~x~nd m 1 ender within l0 ~fays aher the date such notice is
ma~led. I.ender i~ authari~.d t~ rnllrc~ anJ a~~h• thr pr~credc, at l.ender'c option. either to restoration or rcpair of the
Propcnp c,r !~ Ihc wm~ .r~urcd h~ thi. \1~n~atc • .
I lnlPCC (.£n~1~~- gnil (j~rriy~~i'. L•~{!~^:. . 3t,.• .... :ti:!: , ~ii: S:CC~t ~j.~.~:.«!7^L: ^~ Y.•C~^~L~S !^ ~ f1.^.flr^.32 5~:3~! !!^t C!L~~!!~
or F±c.~t~ne the due date ~~t the monlhh• inatallmentc referrrd to in paragraphc 1 and 2 hereof or change the amount of
cuch irestallment~.
10. Borrower Not Released. Extension of Ihe t~me for pavment or modification ot amortization of the sumc secured
by thic Moh~age granteJ by 1 ender to any ~ucceccor ~n imerea of B~rrower ~hall not operate to rclease, in any ma~ner.
the I~abdity o( the origin~l Borrower and Borrow•er'c surces~c.rc in interest I.ender shall not be required to commence
proceedings ag~inst cuch succecsor or refuce to ertend time for payment ~r othen+ri:e modify am~rtizat~on of thr v~ms
ce~ured h~• ~hi. Mi~rtgage hy reaa~n o( any demand made b}~ the oriQinal Borr~K•er and Rormwer's s:~ccescors in in~erect.
11. Forbearance by I.ender Not a Waiver. Any (~rhearance b}• Lender in eterci~inq any ri~ht ur remedy hercunder, or
~~therwice afforded hy applicable law. shall not be a waiver of or preclude Ihe erercise of any such right or rcmedy.
Tfie procurement ~f insurance or the payment of taret or ather liens or charges bp l ender chall not t~e a waiver of Lender's
right t~ accelrrate the maturity of the indebtednecs cecured h}• thic MortgaRe.
12. Remedies ('umulative. All remedies prm•ided m thic Mongagc are distinct and cumi~lative to any other right or
remeJy under thiti Mortgage cx aRordcd h~• laa• or equity, and mat• tx exerc~ud concurremly. inde~x.nden~ly or succecsiv~ly.
' 13. Succestors and Assi~ns Bound; ,Joinl and Se~~erst I.iability; Captions. The covenants and agreements herein
comained shall hinc+, and the riRht~ hereunder shall inure to. the re~pective succe~s~rc and astigns of I.ender at~d Borrower.
subject to the provision~ of paragraph 17 hereot. All rnvenants and agreementc of Borrow•er shall be joir~ and several.
The captiuns and head~ngt of the para¢raphe ~f Ihic M~rtgage are f~r c~nvenience anlv an~ are not to be ~~ced to
interprct or define the pr~~~~~ic~nc here~f.
14. Notice. Except f~r any not~:e reyi~ired unJer ~pplicahle law to l+e given in another manner, (a) any notice to
Borrower pravided for m thic :N~rtgaee ~hall be givrn hY mailing tuch nut~ce by :ertified mail addrecced to Berrower at
~he Property Addrecs or at ci:rh other addres, as &~rmwer ma~• des~gnate hy nc~t~ce to f.ender as pr~vided herein, and
(M any notice ia Lender shall he gi~~cn h~• cerlificd mail. rc~urn rece~pt rcyije~ted. lo I er~der't address staled herein or to
~uch other addrcss as~ l.ender ma~ de~ienate h~ n~~i~rc t~~ Bc.rr~~W er as rr~~~ ~deJ here:n. Any notire provided for in this
~t~~rtgage shall he deemed t~~ ha~c hcen Fi~~rn 1o B~rrc~wrr ur Lcnder Kfien g~ven in the ~tanner de~ignated herein.
15. l.Jniform Morl~aRe; Gor•erninR I.aw; Se.erabilitc_ T?~~s iorm of mortgaRe combines nn~form cove~ants for natinnal
use and non-unif~~rm co~enantc with iimiteJ van:+hon~ M jun~d~ch~n to constitute a uniform ucuriry i~strument covering
rea) properly. Th~t Mortgage shall be govcrned hv the law of the juricd~clion in which the Property is located. in the
event ~hat an;• provision ~r clau~e of 1hi. Mc-rtdaec ~~r the \~,te c~nflict~ Kith applicable law_ such conflict chall not affed
.~Iher provisionc of thi~ hlortqage or the Ni~t~ wh~ch can be g~~~en etTecl without ~ht conflicting provicion, and to this
end the provitions of thc M~rtgage and the '~l:ue arc Jrrlared te~ he severable.
l6. BorroNer's Cop~_ AorroNer ~hall tk furni~hed a c~nf~rmed rnp}~ of the Note and of thic Mortgage at the time
of eaecution ur after rec~~rd~ti~n here~~f.
17. Transfer of the Properlt: Atcump~ion. If all ~~r am part of ~he Property or an interest therein ic sold or transferred
by Borrower with~iut [.ender'S pr~~r unn:n ..~mrnt. ruluding (at the cre:~tion of a lien or encumbrance sutwrdinate to
th~s Mortgage. Ibl the creahc.n of :~ pur~h.~.r m~~nrv ~e:urit~ ~nterect f~r household appliances. (c1 a tranalen c~ devist.
dtscent ~~r by operation uf law upon thc .lcath ~~( ., t~~~nt tcnaM ~r (d~ the grant of any leaschold interest ~f Ihrcc ycar: or less
not containing an uption to purchase. I enJer ina~. .,~ I enJer'e c•pt~an, derl,,re al! the sums secured by this Mongage to be
immediately due and payahlc. I endcr \F1~I) f1J~l N,1f«(J tiuch opUan to :+r~~lrrate if, prior to the ~ak or Iransfer. Lender
and the person to ~.hom the Proper~~• i. i~~ hr .~~IJ ~~r ir.ms(erred reach agrr~ment in wnt~ng that the credi~ ~f wch per~on
~s satizfactory to I.ender and th:,t the ~n~rr..t pa~eble ~~n the cumz secured b} this tilortgage shall be at surh ra~e a. I.ender
sha(1 reyuesl. If I ender has waiveJ the ~~p~~~~n t~~ ~ccelerate provided ~n this paragraph 17. and if Borrower'> >uccessor in
mterest hac executeJ a wntten as~umpni~n agreement accepted in writ+ng by l.ender, l.ender shall ydeace Borruw•er (mm all
obGgahom under this MortgaRe and thc tic~tr
If Lenuer etercices wch option t~~ ac.cler~te. I enJer ~hall mail B~rrovrer not~ce of accelerat:on in accordancr ~~ ~~h
paragraph 14 hereof Such not~ce ~h:+ll pr~~v,de a pen~xl of not less than 30 day~ from the date thr notice :s mailed vvith~n
which Horruwer may pay Ihe sumc ~IC.lere.l due If Rorrower fa~ls to pay surb tums ptior to the cipirati~n rf wch pene~d.
Lrnder mav. wrth~~ut further no!ice ~+r dcmand t~n Horrow•er ~nvoke any remedies permrtted by paragraph IR here~f.
N6N-UNIFORM C~04EtiwNTS Borrower and Lender further covcnant and agree as tollows:
18. Acceleration: Remcdies. Except as pro.ided in paraRnph 17 hereo(. upon Borrowers brescA ot sny corenant or
agrcemeat of Borrorrer in this !-1orlRa~e. includin~ Ihe co~enants lo p~y when due ray sums secured br fhh MortRsRe. I.ender
prior lo acctlerstion shdl mail notite to Borrower ts pro~lded 1~ pars`rsph 14 herto( specityin~: (1) fht brtich: 121 ~he sdbn
required to cure such breach; f3- a date. not less thin 3Q da~•s trom 1he date the notice ts mafled to dorrovfer, by which sucA
breach must be cured; ~nA (4) Ihat failurc to cu~e such breach on or sefore ~he dsle speci6ed in the notice msr recult la
acceleratan ot the sunis secured Dy this MorlRa~e. /oreclosure by judicial proceedln~ and ssle of the Propcrty. 'iTe nolke
shali furthtr inform Borrower af the riRht to ~einctate af~er acc:kratbn and the reRhl to assert in Ihe toreclosure pmceediK
t6e non•ex'sstence ot a defauh or anr other detense of Sorroaer to sccelerstion and foreclosurt. If the bresch is not cund on
or before Ihe date speci6ed in thc notice. I.ender ~I [.rnder't op/ion m~r declare sl) ot Iht s~tms secnrcd by this MoARa~t to be
immedistely due ~nd payable wilhout turth~r demand nnd msv toreclost thk Mottxa~t by jndicial proceedin~. I.rnder chdl
be eotiited to collect in wch proceedin~ sll expenties ~~f foreclosun. includin~. Dut not Ilmited to. reawn~ble att•~rnr:'s fees.
and cosls of doeumenlary evidenee, ~bctrsctc and ~itle nporic.
19. aotrower's RiRht to Reinslate. tiotwith~t~nd+n~ I rnder's acceleral~c~n of the ~t~m~ tiecurcd by ih~c Nc~rtgage.
Borrorver shall havt Ihe nght a~ have ~m pn•~e~d~n.. h.~'•un -,> Lender t~~ en(~~~ct thi~ ti1~~r~~ta¢e dnc~nlmueJ at an~ time
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