HomeMy WebLinkAbout24831 cndri'~ ~nurn a~;~rrmcnt or apph.ahle luw. li~xrov-rr shall pay th~• amuunt uf all muttKage imurancr prcm~umt ~n ihe
m~nnrr pruv~dr.l undrr ~,ar.i~;raph 2 hrreof.
An~ aint~uni~ ~I~.hi~i,r~i h~~ 1 cn~lrr pur~u~nt tu thic pa:.~graph 7. w~~h uHrrc~t thcreun. sh:d) hea•me add~tional
~n~irMcdn~~~ uf lt~~nuw~•r ~r:urrd h- ihi~ ~1urlga~c lh~lc~~ H~»t~~wr~ and I rmlcr :~gfre to o~hcr Icfn11 ~•( paymcnt. such
am~~um~ ~h:~ll tx ~~avaMr uEwm nuti:r fr,,m I rndcr 1~~ B~~rn~wrr rc~;~~ccling pavmrnt ~hcrc~~(.+ari~hfial) 1~ea~ intcrest from the
~1atr c~f ili.h~u~rmrn~ at ~hc ratr pav:~hlr tr~+m timc t~~ t~me ~~n ~~utctandinR pnncipal under the Notc unlccc payment of
intcrcct at such ratc woulJ hc c~~mr:~n~ a~ :~ppl~raMc law, in whirh rvcm wch ame~unlc ~hall hcar intcrt~t at~lhe highest ratt
{xrmissihlc under applicaMc Isw. N~~Ihin4 c~~M.~incd ~~ thi. par:~Graph 7~hall reyu~rc 1 cndcr to mcur any expenu or take
any action hcrcunder.
6. inspection. I ender m~~ m.~lr ~~r ..n~.r t~+ tx• inadc rea«naMe rntrie~ u~x~n and incpectianc ot the Property, provided
that I ender ~hal~ R~~~r Burn~wcr n~~~~ir pri~~r to ;,n~• ,iich ~n~pectu~n ~pecifying reas~~nable caux thercfor related to I_ender's
~ntrrext in the Pro~xrir•. '
9. Cowdemnafan. The pr~r~red~ af anv award or ctaim for damages, direct ar conuquential, in connectan with any
condemnation or other taking of ~he Property, or part i~ereof, ar for conveyance in lieu of condemnation, arc hereby assigned
and shall bc paid to Lender.
in the event of a total taking of ~he Properry. the prcxeeds ~hall he applied to the sums secured by thic Morigage.
with the etcess, if any, paid to Borr~-wer. In thc eveM of a partiat taking of the Property, unlesc &~rrower and Lender
c~thtrwise agree in wriling. lhere shall he applied tc* the cumc securcd !-y this Mortgage cuch pro~hi~n ot the proeeeds
as ic equal to that pro~rtion which ~he ;~muiint i~f ~he sumc uc~~red by this htortgage immediately prior to the date of
taking he~rs to Ihr fair market valuc of ~hr Pru~xr~~ immedia~cl~• prior to thc date of ~akinR, with the balance of the proceeds
paid to Bor~ower. -
1f the Property i~ ahand~ne~l h~• B~•rn+wcr. ~~r if :ifter n~tice hv Lender 1o R~rre~wer that the condemnor oPfers to make
an award ~~r tie:lle a cla~m (~.r d;~m,~~c~. A~+rn~wer fa~l. t~~ rr,~md t~ I ender K•ilhin z0 ~ayc after the datt such notict is
mailed. I_rnder i~ auth~ri~rd t~ rnllrct and ap~lv thr prc.eecdc. at I.ender'c ~,p1;on, either to restaration or rcpair of the
Prn~ri~• ~r ~o the ~um~ ~i~z~red h~ thi+ :~1i~nLacc.
~'~':~'- :~~~.:~~ :.~~~ ~~•~~.~.,c~ v;i,r,.+~.c agrce ~n ~.riiini. any sucn appiicaiinn oi prtxeeos io principai snaii noi eaiend
or pc.~tpone thr due ~iate o( thr m<~nthh• in~l.illm!•nic referred 1o in paragraphc 1 and 2 hereo! or change the amount of
wcF m~lallmentc
10. Bo~rower Not Releaced. Extension of the t6me for payment ~r mc~dification of amortization of the sums securcd
by th~c Mi~rt~age granted by 1 ender to any cucce«or in intere~t cf Borr<~wer ~hall not oprrate ta rclease. io any manner.
the liahiliry of the ori¢inal Borrower and Borrow•~r'~ succesa.rc in interect l ender shall not be required to commence
pri.ceedings ~gainct such ~ucreaor or refuce to e+ctend time for paymem or othen+~•iu mc~dify amortization of Ihr ~ums
~e:i~red h~~ thi. Mc~rtgage hy reau~n of ~n)• demand made b} Ihe orieinal Rorr~~wer and R~rrou~er's tucceccors in imerect.
11. Forbearance by I.ender Not a Waiver. Any f~rhearanre b~~ Lender in ererci~ing any right or rernedy htrcunder, or
~therwise afTorded hy applicable law, shall ne.t he a waiver of or preclude the exercise of any such right or rcmedy.
"(~he prc-curement ~f inturance or tht payment of tares or other ~iens or charget h~• Lender chal! not he a wa=ver of Len~er's
right tu aceelerate the maturity of the indebtednecs cecured h~~ Ihic Mo-tga¢e
12. Remedies ('umulative. All remedies provided in thic Mortgage are distinct and cumulative lo any other right or
remed}• iinder thi~ Morte~gr or aftorded hy law or eyuitq. and may be e~erciud concurrenUy. independenNy or succecsivdy.
~ 13. Successors and Acsi~ns Bound: Joint and Se~enl f.i9bility: CapHonc. The covenants and a¢rcements herein
con-aineci chall hind, and ihe ri¢ht~ hereunder shall inure to. ~he retpective succecsort and acsigns ot Lender a[-d Borrower.
subject to Ihe provi~ionc of paragraph 17 he~eof. All coveiiants anJ agreementc of Borroa•er shall be joinj and several.
The captions and headingc of the paraeraphc o( thic Alortgage are f~r cnnvenience only and are not to be uced to
~nterpret or define thc prov~~ion~ here~f.
14. Nolice. Excepl for any notice reyuirtd unJer ~pplicahle law t~~ be given in another manner. (a) any notice to
Borrower provided for in th'sc Mortgaee thal) tx grv~n h~~ mailing wch notice hy certified mail addrecced ~o Borrower at
the Property Addrect or at such rnher addre~. as B~~rre.wer mav deaignate b}• n~~tice to l.ender as provided herein. and
(h) ar,~ notice to l.ende~ shall he g~ven h~• ceruficd mail. retum rece~pt reyuetred. t~ I ender's addresc stated herein or to
cuch other addresc as [.ender ma~ decienate M nc.ti~r t~~ B~rrnwer as pm~~ded here~n. Any notice provided for in this
M~~rtgage shall be deemed t~, have t+cen F~~cn to B~~rm~cr ~~r I rnder yhen g+~•en in the manner decignated herein.
IS. Uniform'HoARaRr. C.o~~erninR Law; Se~erabilih. Thie f~rm of m~,ngaRe combines uniform covenants for nationa!
use and non-unifc,rm c.nenant~ with limiteJ ~•anahons h~ Ji~nsdirtion to rnnsthute a uniform securiry instrument covering
real property Thi~ 111ortgage shall he Rm•rrnrd h~ the la~ ~f the juntdiction in which the Prnperty is located. In the
event that any prnvision ~r clan~e ~f thic At~~hgace ~•r the '~Inte c~nflictc w ith applicable law, such conflict shall not affeet
~ther prov~siuns of thic MortKage or thr N~~tr wh~nc ~an he gn~en eBect without ~he conflic~ing provi~ion, and to this
end the pro~icions of thr McxtRage and ~he V~,te are Jecl;,red t~ t+e uverable.
16. Borrower's Cop~. Borr~~~.cr ~hall hr (urn~.hed ~.~nf~~rmed copy of the Note and of thic Mortgage at the time
~~f execution or a~ier recordation hereof.
17. Transter of Ihe Property: 4csumption. If all ~r any part of the Pn~perty or an interest therei~ ic sold or tnnsferred
by 8orroue~ H~tt,~~ut l.ender's pn~r wnn,n ~~,n.eni. e~,luding (a1 the crration of a lien or e~cumbrance subordinate to
this Mortgage. Ib1 the creat~~n ~f ~~ur.h,,.r m~~nrc ~ecunty interest f~r household appliances. (cl a tran~ter hv devist.
descent or hy ~~~erar.on of law upon thc ~fcalh ~.f a i~~~nt tenant ~r (cii the grant of any leaxhold interest of thrcc ycars or ltis
not ~ontaining an opti~~n Io purihase. I ender me~. et I ender'~ iipU~~n, dr~l.~rr all the sums secured by this Mortgage ~o be
immediatelp due and pa}•ahle Lrnder tihall ha.e ~.u.rd tnch ophon 1~~ a::rieratc if. prior to the cale nr transfer. [_ender
and the perse~n tn wh~~m the Propertv i. tn hc .~~t~l ~~r ~ransferred reach agrrrment in wrihng that the rredit nf tuch per~on
is saiis(actor~ ~o I en~er and that thr intrrc.t p~~ehle rn the sums tecured h~ thic Mortgagt shall be at such nte ac I.ender
shall rcyuest. If 1 ender has wa}ved thr ~~pnun t.. accelerete provided ~n th~s p:~ragraph 17, and if Borrower'> >uccessor in
~nterest ha~ ezecuted a wntten sswmpuon ~greement accepted in writing by t.ender. l.ender shall ydea~e Borrowet from all
obligati~nc under th~s Mortg.~ge and the tic,t~
If I.ender e~ercices tuch e~ph~~n t~~ a.relrrat~. 1 en.ler ~hall mail B~~rraver nodct of acceleraUOn ~n accordancr ~.ith
paragraph 14 hereof Such no~ice ~h:,ll prev~dr'a prn~~J o( not less than 30 days from Ihe date Ihe notice is mailed within
which B~rmuer may pay the surm derl.,red di~e If Borruwer ;a~ls ro pay such sums prior ro the e~pira[~on ~f wch ~~ux1.
Lender may. w~th~~~t further noncr ~~r demand c~n Horrower, ~nvoke any remed~es perm~tted by paragraph IR here~f.
NON-UNIFORM C~O~'EV~NTS Bnrrower and l.cnder further covenant and agrte as follows:
18. Acceleralion; Remedies. Ezcept as prn.ided in psn~raph 17 hereof. upoo aorwwer's breach of sey covenaet or
agreement of Borrowfr in thic '~1ortRaRe. includinR Ihe co~enanls to p~y when dut any sums secured by ih[s MorlRs~t, I.ender
prior lo accelerstion shall mail aolice lo Borrowe~ as pro~ided in paragraph 1a hertot spetifyirtx: (l) the breach: 121 Ihc sdbn
required to curc such brcach;l3) a date. no1 less ~hsn 30 days from the dNe the notice is mailed lo dorrower, br wAich sucA
Meach must be curcd; snd i4) thst failun to cure such bresch on or setore the dde speci6ed in Iht notice msv result in
acccltration of t6e sums secured bv tAis MortRs~e, forecbsure by judicial proceedin~ ~nd sale o/ tAe Properry. The nolke
shall further inforR, 8ormwer of :he ri~ht 1o reinsta/e afte~ accek~stion and IF~e ri~ht fo assert in the toretlosure proeeedh~
tbe non-e:islence of a default or any Mher defence ot Eorrower fo accekrstion and forerbsure. It Iht Dn~ch is not cnred on
or before the date speci6ed in the notice. I.ende~ ~~ [ rnder's oplbn msr declart ~D of tht sonts securtd br tAis NoriRa~e fo be
immediatcly due snd paysble without funher d~mand and msv foreclose thls Mo~a~e by judic(d proceedin~. I.ender chdl
be eotitled to co11M in such proceedinR sll e:pences .~f foreclocurr. includiret, buf aot Umited to. reawnsble sn.~rncti's fees,
and costs ot documentary evidence, abstrrc~s snd ~itte reports.
19. dorrower's R~hl b Reinstatt. "tiulu•~th~~~nJin~ 1 ender'c acctleraU~n ~f the ~um< <ecured by ih~c !Nortgage.
BorroXer shall have ~he nght r~~ ha~e an~ ~r~..ec:i~n~, h«nn i.~ Lender ~~ cn/nrct th„ M~~rtgaQC d~u~nl~nued at am hmt
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