HomeMy WebLinkAbout24721 rndcr'c wrincn agrccmrnt ut applir:~hlc law. Nurruwr~ ~h~ll ~,.~~ th~• ani,~,:nt ~~t .~11 n-.,i~~a~;r ~n~ur,~ncr prcmiums in tht
mannr~ p~uv~dcJ undcr ra~a~r~ph 2 hrrro(.
Any amuunh ~h.h~,nrd bti~ I rn~lrr ~urwani 1u IFi~ ~~:~r.~E~r,~j~h 7. u il~ ,~,~rn.~ ih.•~i-un. ~hal) F-ccante add~honal
Uti~CFl~CI~1lc~~ i~( ~{~ttfuHl'f ,rcured h~~ ih~. ~~u~l~d~!~' ~~n~r~~ ~4~~n~~Ni~~ .~n~~ ~ rn~lrl .~~1~•C (i~ (~ ~ta! i'I71N n( pa~'mcnt. ~uch
atn~~unh ~hall Fx ~~aY:tF•!r u~x~n n~wi~• f-i+m I cndrr t.+ Ii~~n~~N: r r~v~ur•tini ~~.nin.•nt t-~f~4~ij~..yTj~ y~~;~~ hcar intrrtt~ from iht
~L~ic ~~f di~hurtrmrnt at thc ratr p:~y;~hli• fmm limr t~~ ~~n~e ~~n unt~t:~ndinR ;~~ ~n. ~~.~I i~+~dcr thc N~~te unlea~ paymrnf o/
interect 3t such rate would he c~-niran~ t~~ a~pl~.,Me I•~~ ~n ~I,~.h rvrnt ,u~h .~;n,•ut,i. .h,~ll Fxar ~ntere~t at the highett rate
permissible under applirable law. Nu~hin~ .~~nt.,inc~t ,n ih,. ~,ar,,er;,~,h 7.hall rt•y~i.rr ~ cn.lcr t~~ incur any e~~nu or takt
any action hcreunder.
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_ . . _ ° ,- -_ ~." .'c..., ~. ~ . ... ... ....,...~.n.~~ ~uuic• i~~~~~n .u~U ~n,~x.,u,m ui ine rr~~peny, prov~uea
thal ! cnder shall Kn~c R~~rrowrr.n~~U.r p~n~i tu a::~ ~u:h ~~i~pr_h.~n_ ~~xxr~l~~ny, :.-.n~,nahlr c;-,:se therefor related to 1_endeis
intrtccl in thr Pn~~r1Y.
9. Coademoation. The pnxcedc ~.f an~• •rwa~d ~~r .la~m f~~r ~lamar,rti. ~'.irect ~~r cun~c;yuemial, in conneclion with any
condemnation or olher taking oi 1he Pmpeny. ur pah ~here~~(. o~ f~,r c~~nvr~::nce ,n Iiru ~,( cundrmnaUon, arc hercby assigned
and shall t,c paid to I.ender.
In the event of a tata) taking of Ihe Pr;~prrly. the prcxee~s ~hall hc ~p~~l~r~f ~~~ ihe ~i~ms ;ecured by tfiis Mortgage,
with tht ezctss, if any, paid to Borr~~wer. In the evem ~~f a partiat tal.inK c•f thc Yr~~perry, +~nlc~~• Rorrower and Lender
~uherwise agrce in writing. therc shall he apphed tc~ ~hr tiumti ~ecureJ h}• th~~ 1S~~~f~,,~,e wch {.ro~c~rti<m o( the p~oceeds
as ic equa) to lhat ~roportfon which the am.~unt n( the wm. .r:ured b~ thiti ~1,,it~.~Fr i~nmcdiately pnor to Ihe date ot
taking hcars to the fai~ market valur uf thc Pru~.rr-~ ~n,tnr~t~.~irh ~.~~~~r u• the ;t.,~~• ,., ~.~1 m:• ~.ith ~he h:~lancc of the proceeds
paid t~ Borrower.
if thC Pruperty ic aband~•~r~i h~ R„rn~wrr ur ~f ,,f~rr r.~~~i;~~~ hv I r,•:1cr i„ R,,~r„Nr~ that rhe c~nd~mnor offers to mske
an award ~r cetl~e a c!~im (~.r i1:~m.~er.. k,•rn,~rr f.~~i. t~~ r~•,~,nd tc, 1 rn~icr w•th~n ln ,+:~~~ :,(~~r Ihr datt tuch notice is
mailed. 1 cnJcr i~ aulhorirrd t~ a~licct and .~~~~I~ ~hr ~r~M-_•~•d•, at 1~•n~1cr', ~~n~~~•:i r:thcr ~<~ reatoration ~t rcpair of the
Propee) c~r t<~ Ihe tum~ .ccured hv ~hi~ A1~,rteaer
llnir~c 1 endcr and Borr~iv-~r othcr~+~k aerr~ in ~ rit~nr :~n~ •u~ h:~,i:il~~ .~t~:~i: ..f :~r:•..•rt~~ t.. .._.,~,•~i a! cti~!! n.nt exten~!
~~r Exxl~x~ne the ~fe~e daie ~~( thc monthh in,tallmcntc rcfcrrrd t~~ in ~~.~r:,~r.~~,'r-. 1.,n,1 '_ here~+f nr change the amount of
cuch inctallmrnta.
10. Borrower Not Relea+ed. Exlcn~ii~n of Ihc timc f~+r pa~rnent ~~~ ns~~~~~fi .~' ,~n ~~f ~m~~,i~ati~n of thc tumc ucured
by thit Mi-n~age granted by I ender to any curce~~ur ~n ~r~tcrr~r ,~f N~~rr~~~.~•~ .i:,,I~ n~~~ r;~rr,~-c• a. relrase. in any manner.
the liahili~y c.f Ihc origmal Borrawer and B~rrourr'. tiie;~r~,~~r. in intercct I~ n~!cr ,t,~l! n~~~ hc reyuirtd t~ rnmm~nce
pmceedings againct cuch ~ucrrtsor or retuse tn ct~cnJ s~nu I~~r p,~mrnt ~~; ,~~hcr:+~.~ m„d:f~• •imc.r~ir.at~un af thr wms
tie~urrd h: Ihi~ Ne~rtgagc hy reacon of an)' demand m:~~lr M thr uri~ ~nnt R„r,,..r .~:~,1 f; -r~~•a,r ~ t~~cces~ore in intertcl.
' 11. Forbearanct by I.ender Nof a Waiver. Am f~~rtx•:.•:~nrc h~ 1 rnder i:: r~.•~. .:n; .,n~ r~~ht ~.r remedy hereunder, or
~,therw~ce afTorded hy apphcahie iaw. chall n~t tx a~:~iver ~~t ~~r ~+rr"u~'r rt,r ••.,•• _. e.,f anc ti,~ch right or remedy.
Thc procurement of insurancc or the paymem of t.,rc~ ~~r ~~ther I~e~» .~r ch,,~~r. h~ i rndrr ~.hall antt~c a~a,vtr ot I.ender's
right t.. accelerate the maturity of the indehtedne~s ~e,ured h~ th~~ 11nrt~eei ~
12. Remedies ('umulati~e. All remciliet pmr~drd ~n thi~ !1}~•rti:~~~ .+r~• ,i:,r~n.• ,~••.i .;u;ii~lati.•e !~ a~~• otht~ righl or
remedy under thic M~r~g~Rr or afiordcd h~• law~ i~r ey~;:ty, ,~nd m:~~ 1~~ r~.•r::~.~•;f ;~~r.~~vrrnt?ti•. :nJe~cndentiy or succetsively
~ 13. Successors and AssiRoc Bound; Joinl ~nd Se~er~l I iabilih; ( aptiom. i?~~ ,~,tir~iantt :,nd agreemenlt hercin
contained ~hall hind, and the riRhts hercuoder ~hall in~ue ;e~. thc reti~.~~t~•:r .,~.:.r,.~~rt ~n~i actignt ~~f Lender :at~d Borrower.
subject to the provitionc of para¢raph 17 hereef A!I rc~~•c~iam~ an~! a-~rrcment~ i~f Ri~rr,~•~er ~liatl he joiry and several.
The eaptions anJ headingt of the para¢raphe c,( thi~ M~~rr~;:~gr are f:~r <<~nvrn~cnce ~,nly anJ arc n~t t~ he uad to
~nterpret or define Ihc pmvici~ne hereo(. ~
i4. Ndice. Except for any nc.h.-c rcy~~irrd uniler ,~~~~:i~:~htc I,,.. t,~ F+~• t~r.rr ~n an~,thcr manncr, (al any notict to
Borrower provided for in thic M~rlgaee chall he F~~~rn h~ rneili~~e ~:i~h n~~~~;r t~~ ,crt;tie~l m~il .+ddrected to Borrt-wtr at
~he Property Addrc~c or at ~uch uther addrec. a~ B,~rr~+~er rn,ti d~~~~e~;.,re '•. ~~.~•~~e ;~~ i rntier as rruvided herein, and
(h) am notice to Lender shall he Frvcn M cer~ihe.i m:~~! rrr.~n~ •rcr:~~~ r.:~~,e~r.~~l e~~ ! c~:.icr'. addresc stated herein or to
~uch c~ther addresc at {.ender ma~~ deci¢n;~te hi n~~~~.r r~~ N~~f!~~L4t'i ~~ ~,r,~.:~1e,1 ^~rr~r Ariy nntice pmvided for in Ihis
tit~utgage shall t~e deemed t~ ha.c Fxrn F~ccn t~ R~~rr ~H.•r ,v i{'/111~~ 'Af~•_'^ e.~~~~ i~ t~~r manner de~ig~~ated herein.
1S. Uniform MortRa~e; GoverninR I.a.+: Se.rrabiiil~. 1 h~•. t~~r:n ,,.n: •r!r.~.•r ~~rnhm:~ :in~t~~rm cnv~~ants for national
~~se and non-uniform r~~~enant•. ~a'.itF1 ~ilil~tCt1 vafiah~m•, ht ~nt~~,i~~ri,~~i {,,• ;,~t;~t::• t~ ;~ u;~ij:;~n sciur~ty instrument covering
tea) propcrty. This MortRa&: shall he Fovcrnrd h~ thr L~~ ~~t th~ ;irns~ii,t~~.~n in ~~h~rh thr Pro,n~rty i~ located. in tht
event that any provisi~~n ~~r clau~r of Ihi. M~~rtga~r ,~r thr '~,~te ~~~r~t~iciti w+~~ .,~,^'icahie law, si~ch conflic~ chall not aftect
other pmvi~ions of th~c M~~rtgage or thc ?v~~tr wh+.h .:~n -.c' c~~rn NTr. t.~i•`~~~:~' the rc~nfl~,tinR ~ m~i~ion, and lo this
end the provision~ ~( thc M~rlgagc anJ thr ti:,tc ~rr Jc.l.~re~1 t~• he .everah:c
16. Borrower's Copy. Borm~er ~h:dl Fx (nrm.hc~t ., ~n~~i:~rrnr,i ~~~,.~. ,~t :h~ ti,~te ~n~i ~~f Ihit !Nortgage at the time
of erecu~ion or :,ficr re«:rda~ii~n here~~f.
17. Transfer of the Propert~; ,~c~un~plion. It ,li ,~r :,nti ~~,,rt ~~f ~he Pr,~~•<<~ ,,r :sn ,nrere~t therein ic a~ld or trans(erred
by Borrower ~~ith~~:rt LfR~Ci't ~~s;n~ ~.~r::r: ;:,•~~~r~~~ c~,l;~.iing '.;; ch~ _.-...,~, ., ~ .~ !,_:~ c~r enc.imbren~e cutx~rd+nate to
thic Mortgagr. Ihl the creah~n ~f :i ~+ur.h.~.,• rn,•nc•. .r_~~~~« ~nterr~t t~ r t:: ~nrh,•i;! ~~;~li:~ncec. (c) a ~rancter M• devist.
descent or h~ <~peration of law ~ipon the ~Irath .•r ,, ,,~ ,.r trnen~ ~~r .,1~ thr erent ~~~ .~n~ :e.~~,chi.ld intetett c~f threc ~~ea~c or less
not containmg an option tn , urrhase. 1 e~der m,,~. .~+ I rnder .~~~t~:~n. de~! :~~ +li tt~e wmc cecured hv thic Mortgage to be
~mmediatch due and payahlc 1 ender tih:Jl h.~.r ~+,,~~.r~+. .,,~h ~~~t~~~n r~ ~•. r.,~r ~I. ,~n~~r t~ the ~ale ~.r transfcr. :.endet
and the person t~ wh~~m Ihe Pr~.per~v i. t~~ hi• .r.!,t ~~T tr.~:i~frrrcd reach .~r~~r,:nrnt m wnting Ih~t Ihe crtdrt i~f wch per~on
~~ sati~facl~~rv ti~ I en~ier and that the ~ntcrr.~ pa~.~Flr ~~n the ~~nm ~r: ured h~ !~u~ .1rrtYage shall be at surh rate a~ l.ender
shall reyuest. If 1 ender has wa~ved thr rp~~c~n t~~ ;,c:cle~~te p~~~~~d.r.f ,n ih~. ,.~r ~kr,,~h 17. and if Borrower'~ ,uccessor ~n
mteresl hac eucuted a written asw.^~pu~~r. ~grcemrnt a:~r`~ed in ~+nt~nK hv 1 en:fer. 1 ende: ~hall releaae-Borrowcr fr~m all
obl~gationc under thi+ Mortg.+ge and thr '`c,t~
If I ender exercius such ophon t~~ ac.r~e:~t~. I cn~ier .hei( r,ia~l H~~n.~v.er ~~ut~ce ~~f aiceleratwn in a~corJan~~• ..~~h
paragraph 14 hereof. Such nohce ~hall pr~~v,de , Mn~•~l ~~f n~~t Ir« thz~ ~(1 da~ti ir~~m ihe date the notice it mailed within
:vh~ch Borruwer may~ pay the suma Jecl~re~f dur I( Hurru~-er ;~it~ ti~ pa: ~uch ~tim~ pnur 1~~ Ihe e[p~tati~n c~( ~uih pet~ixl.
Lender may. wi~hnut lurther not~ce ~~r Jcmand ~~n liurru~cr. ~n~c~{~e any rcmed~es ~+rrmrtte~l hy paragraph IR hercc.t.
NOl3-UIYIf~JRM C~UYFV~NTS Borrciwer and 1 cnJer furthcr cr.vcnant rnd agrcc ~s follows:
16. Aceelerstion; Remedies. ExceQl ~rs prn.id~d in pa~raph i7 herca(, upon Borror.ers breacA ot any corenanl or
agreement of Borrower in this MortRaRe, includinR Ihe co.enanl~ lo pay when due an} sums securcd ~y Ihis MoriRa~e. I.ender
prior to accelenlion shdl mail notice Io Borrower ~ pro~ided in paragrapb 14 hrreot specifyinR: (I) the bnach: 1211he actbn
required to cure such bnach; (3) a date. nol less than 30 d~rs trom the dsle the notice is m~iled to Borro..er. by which sucA
bFCSCl: must be cured: and (4) Ihaf tailurr to cure such Are~ch on or betorc the d~te cpecificd in 1he notic~ msv resuN ie
accelention of tbe sums secu~ed by Ihis MorlRa~e, toeecMsure by judicisf proctedin~ and salr of tAe Property. The nWke
shdl (urther inform Borrower of the riRbl !o reinstale afle~ uccleralion and Ihe riRht fo acserl in Ihe foreclosure pruceedF~
tbt non-e:islence ot ~ dc(suN or anv olher defense oi Bonower to iccelention and (oreclosure. It Ihe bnich is nof curtd o~
or betore Ihe date speci6ed ia the notice, I.ende~ ~1 1 ender's optan m~y declare sll of the snrr~ setured by fAis NotiRa~e to be
immediately due and paysble wifhout ~u~ther demand :,nd ma~ torcclose thB Morixqe by judicid proceedia~. t.~nder chall
be eotitled to colleet in wch proceedinR sli e:pen~e. ~~t torecl~cun, includin~, bu1 not Gmited to, ressonaMe ~tt•>rne:'s fees.
and costs ot documenlary evidence, sbctracls and ~itl~ repnrl+.
19. Eorro~rer's RiRht to Rtillstiltt. ti~~Iw~th~l.~nd;n~• 1 cnJct~ti ac:'Itrah+~n ~if Ihe sumt .«~r~d ny Ih~[ M~,ngage.
Borrowtr shall havt tht right to ha~e am pr~~cr<<f:n.• ~•r.~~~~~ ~~~ Lr~~de~ i~~ e•~f.~•~e th~~ ~7"r!~.~q- ci~~c~:nt~m~ed at am time
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