HomeMy WebLinkAbout24951 rn~1r~'~ Nnucn a~;rcr~nrnt u~ ~~~i~~ablc law fiurmwrr chall pay thr amuunt ~~f all murtga~;c ir~~uranre pnmiums in ihe
mannrr p~~~~~ilr.i unJcr p:~r,~Xra~h ? hcrco(.
Am' an,~~un~~ ~I~,hu~.r~l hv I rn~icr pu~via~~t tn Ihix par.~~;r.~ph 7. w~~h uitr«til Ihere~~n. ~hall I+e~ume additional
in~irMe.i!:r,~ ~~f itu~r~~v-rr .rrurrd h~ th~. M~~r~~;a~;c linlc.~ R~,rruNrr and I rn~icr a~;rec toiMhC[ ~rnic q( paVmcnt. tuch
amuunh ~h:~ll Ix• ~,a~:~hlr u~H~n nu~i:r fr~,m I rndrr t„ liorn~wrr rcyuc~linR p:~~~m~•nt thrrrnf. and cbsill hear intrrctl from tht
d:~~e ~~f di.hur•.emrnt at ~he r.itr ~:~vahlr (n+m timr la limr ~~n outct~ndinR prmcipal ~mder Ihe Note unlec~ payment of
intcrest al such ratr wciulil Fn ci~ntr~r~• t~~ :~ppl~iahlc law. ~n Wh~rh evcnt ~~~ch am~~untc ~h~~ll hcar intt~c~t at the highect ratt
permissihk under appl~c;l~llC IJN' N~~~FI111~! ~umainrd m lhic paraKraph 7~hall rCyuir~ I.ender to incur any expenu or take
any action hercundc~.
~s• Inspection. I rn~e~ ma~~ m.~le ~~r ~.~u~r 1~~ Fx m:~Jr rca«•nahk entrie~ u~xm :~nd impectionc of the Property, provided
that 1 ender tihall ~i~•~ B,~rr~~we~ n,~i„~• ~,,,~r t~• :~nv .urh insperlion ~pec~fy~ng reasonable caus~ thercfar related to Lendei s
~n~erest ~n ~hc Pm~xrtv
9. Condemnalion. The pnK•red. ~,t an~• ~ward or claim tor damages. direc~ or consequential, in connection with any
condemnation or other taking of ~he Property. or part t--creof, or for conveyance in lieu of condem~ation, are hereby assig~ed
and shall bc paid to I_ender. .
In ~he event of a tolal ~aking of the Pmperty. thr prcxeeds chall be applied t~ the aims secured by tfiis Morigage,
with the ercess, if any. paid to Rorn•wer. In ~hc event of a partial taki~g of the Property, unlecs Borrower and L.ender
o~herwi~e agree in wri~in~. them chall he apphed m the ~~m~ secured by thic Mortgage cuch pmF-ortion of the proceeds
as ic equal to that pr~~x~rtion uhich thc :~m~~~int ~~t ~hc sumc ~ec~ired by thit Mortgage immediately pri~r to the date of
taking t~eart to the fai~ market value uf the Pr~~~xnv ~mmediately pri~r to the date ~f taking, with the balance o( the proceeds
paid to Borrc.wer.
Tf the Property ic ahand~~ne~t hc Ri,rr„wcr. ~~r if ;~fter n~~tice hv 1 ender tc- Rnrr~w~er that the condemnor ofiers to make
~n award ~r cettle a claim (nr ~1:~m.~_•~.. R~~rr~~wrr fa~l. t~~ re~pe~nd to 1 ender within z0 dayc after !he date such notice is
ma~led. Lender ic authori~rd te~ cc.llrc~ and :~p~h~ ~hr proceed~, at I.ender'c opti~n, eilhe~ to restoration or repair of tht
P-c~pc~~}~ : r to the u~m~ .rcurcd h~ ~h~. ~1~•rt~;acc.
i`i~~~s. i cnuc~ .~nu nu~ruwcr ~~iiirtwi~r agrer in wrii~rc. an}~ ;uch appiicaiion ui prcxcci~5 #v F iii~ciNai siaii i~'vi 'eKia';~~:.
or `•~ctFx~ne Ii;e dur ~iate ~~f Ihe monthh i~.f,illmems refc~rrd tc- i~ paragraph, 1 and 2 hereof or change the amount of
cuch inctallmentc
10. Borrower Not Releated. F.xten~ion of thc lime tor pavment or mc.dification of amortization of the sumc securtd
by thi~ Mort~age granted hy 1 enJer to am~ ~ucce~sc-r in interetit uf Borr~uer shall n~t o~rate to rclease, in any manner.
the liability of the oriqinal Borrower and Borrow•c-'s succes~c-ra in interect I ender ~hall nat he required to commence
pn.ceedingt againc! ~uch ~ucrecsor o~ rc(uce te- ertenJ lime for payment c~r otherw~i~e modify amortizat~on of thr wms
~e~ured by thi. M~rtgagc hy reawn of an~• demand made M• thr orieinal Rorr~~w•er and B~rrower's succesaorc in interect.
il. ForbeYrance by I.ender Nof a Waiver. Any f~rt+caranre hy Lcnder in exerc~ting ~ny right or remedy hercunder, or
~therwise afiorded by applirable law, shall n~t he a waiver of or preclude the exercite of am• such right or rcmedy.
The procurement ~( inturance or the payment of taxec or other litnc ar rhargec by t ender thall not be a waiver of Lenders
right tn ac:elerate the maturit}~ ot the indehlednecs ~ecured h~~ thic Monga~re.
12. Remedirs ('umulative. All remedies provided in this MorlRage are diatinct and cumulative to any other right o~
remedy nnder thic Mo~tC~g~ or aR~~rded M• law• c.r equit}~. :~n~i may he etierciced c~ncurrenNy, independently or succeuively.
~ 13. Succecsors and AcsiRm Booad; .Joint and Se~eral 1.iabilify; Captions. "(lie covenants and agreements herein
contained chall hind. and the riQht~ hereunder shalt inure to. the retpective succe~sorc and assigns of i.ender ~d Borrower.
subject to the provicion~ of paragraph 17 hereof. All co~enanls anJ agreementc of Borrower shall be joinj and several_
The captions and heading~ of the paraeraph~ ~f thi~ M~rtgage are f~r cc~nvenience only and are r.ot to be uced to
~nterpret or define the prmrcionc here~f.
14. Nolict. Except for any n~t~ce reyuired under ~pplicahle law to F~e given in another manner. (a) any notice to
Borrower provided for en Ihic Mnrtgaee ~hall tx givrn h~• maili~R wch nohce by certified mail addretted to Bormwer at
the Property Addrcct or at ~uch uther ae~dre~. as AurmHCr ma~• decignate by noiice ta Lender as provided herein. and
(hl am• notice to Lender shall he grven h~~ cer~ified m:ul retnrn rece~pt reyuected. tn l ender'c addrecs stated herein or to
tiuch c~ther address as Lender mar dc~ienate h}• nnticc t~~ R~~rruwer as ~n..~deJ hcre~~ Any nolice provided for in this
~1~~rtgage shall he Jeemed to h:~~c hcen Ficen to Bi~rrnKer ~~r I ender ~hen given in the manner detignated hertin.
1S. C?niform ltortqa~r. Governin~ l.aw: Se~erabilih. ~Thiti f~rm o( mongaRe combines nniform covenants fo~ national
u~e and non-unifi~rm c~~~enam~ with iimitrJ vanatiom h~ ~ur~~J~ition to rnnshtute a uniform secunty instrumenl covtring
real propertv Thi~ Mor~gage Shall he Favernrd h~ the Iaw nf the jurisdiction in which the Property ~s Iocated. In the
event that any pmvisu~n ~~r clau~e e~f thi. M~~rtt;acr ~~r the '~~~ie c~nflicls ~a•ith applicable law. such conflict shall not aBect
o~her pru~nion~ of thic M~rtgage .~r the !~ii~t. wh:eh can he g~•ren efTect without Ihe conflicling provicion, and to this
end the provieic~m n( thr M~~ngaRe and ~hr tiotr are Jrcl:,red t~~ he ~everable.
16. Borrower's Cop~. Rarr~~uer tih:~il br furn~.heJ a con(~~rmed copy of the Note and of thic Mortgage at the time
of etecuUon or ~fte~ rrrordatic~n here~~f.
17. Transtcr of tht Propert~: ALCUmplion. ~f all ~~r am part of the Pr+~peny o! an interest therein i~ sold or tnnsferred
by Borrower w~tF~~~ut Ler~drr's pn~~r wnt:;n ~~~ment c~cluding la1 the creation of a i~e~ or encumbrance subordinate to
thit Mortgage. (h1 the creati~n ~f a ~ur~h,,.c m~=~r~ ~ccunt~ mterest f~~r houuhold appi~ances, (c) a ~ran~(er hv devix.
descent or hy c~`er.~tion .,f law up~~n thr ~irath ~~f e j~~~ni tenan~ ~.r ld+ the Rrant of any leaseh~ld i~tercst nf thrcc ycars or Iess
not containing an opti~~n tc~ pi~rchase. 1 ender me~. ~~ i ender'~ i~pt~on, decl.,rr all the iumc ucured by this Martgage to be
~mmed~ately due a~d pa~ahle I rndrr ,h.,ll h~.r u,~~ti~d ~ii.h opt~un a~ .+.~~Ici~te if, prior to the cale or transfer. Lender
and the pers~m ~~~ whum the Pmper~~• i. t~~ hr ~~~tJ ~~r Iransferred reach egrr.rnent in wnting that the credil ~f wch per~on
it saticfactor} [0 1 en.ler and Ih:~t Ihr intrr~~: ~a~~Mr ~+n Ihe sumt ~e~ured b~ thic Morlgage shall be at such rate ac 1_ender
shall reyuest. If 1 ender has wai~eJ ~hr ~~, u~~n t~~ accelerete pr~videJ ~n th~s paragraph 17, and if Borrower'> >uccessor in
mterest ha~ executeJ a wnttrn aswmpi~un .,grrement accepted in ~riung by I.enJer. I_ender shall ydeace Borrower from all
obhga.i~nc under this Murtgege and the tic,t~
lf Lender e~erci~rti .uch opnnn tr. a:ce~erete. I enJer ~hell ma~l Borro~er notice o( acceleration in accordanc< <.:th
paragraph 14 hereof Such norice ~haU pm~~de a Exne.d of no~ less than 30 days from the date the notice is mailed within
which B~rmwer may pay Ihe sum~ dtrlered due If Borrower (a~tc to pay such sums pnor to Ihe expiration ~~f wct~ penod.
Lender mey. with~~w iurther no~~~c =~r ~lcmand i~n Hnrrowcr. ~nvoke anp remrdies permrtted by paragnph tR hcrcof.
Nov-UN~fux~~ (~~n~t~'~vTS Borrower and l.ender furthcr covenant and agree as follows:
18. Acceleration; Remedies. Fxcepf as provided in para~raph I~ hereot. upon Bormaers breach of •ny covenant o~
agreement ot Borrower in this -1ortRa~e, includin~ the corensnfs lo pay when due any sums secured by tbh MorfAs~e, I.ender
Qrior lo acceleralion chdl mail notice to Borsower as provided In par~nph 14 Aereo! specltyinR: (11 /he bre~cA: (2/ 1he action
rcquircd to cure such brcach; 13) a date, no1 less than 30 days trom the dde Ihe notice ts m~Iled to dorro..~er. b~ which such
Meach musi be cured; and (4) that /ailurt to cure such brescb on or beton Ihe ditt speci6ed in tht notice miy rccutf in
acceleration ot Ibe sumt securcd by Ihis Mort~aRr. /onclosure by judicid proceedln~ and sale oi the Property. The notke
shdl further inform Borrower of thc riRhf lo reinctafc afler acceltnlan and Ihe ri~ht fo ustA in the /oreclosure proceedi~
the non-exislence at s default or anr other detenu of Borrovrer to acteleration snd foreclosnre. It the brescA is not cnred o~
or be(ore the dste specified in Ihe notice, l.ender ~t ! rnder't oplbe mir declarr all ot the snn~t secored by this MoARaRt fo be
immediately due ~nd payable ••itboul (urthe~ dem:~nd ~nd mar toreclose thts MottRa~t br judicfal proeeedlnR. I.~nder shall
be entitled to collect in such proceedin~ all e:pences ~~f forecfocun, includint. but not limited to. reasonible at~~~rne:'s fees,
~ costs of documentary evidence, abs~rac~s rnd titlc rrports.
19. Somor-er's Ri~hl to Reinslale. ti„tw.lh~t.~ndin~ I ender's acctleraU~~n c-f Ihe sume ucurcd Ay th~c ~longage.
Hotrowtr shal) havt the nRh1 t~~ h.~~e en~ ~r~~.rc~ii+~. • hr~•~i~~ +~y Lcnder t~~ cnf~~-~c th~~ ~1~~rtg.iqc dr~ci~nt~nued at am hme
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