HomeMy WebLinkAbout25011 rndrr'c wr~ttcn a~;rcr~ncu~ u~ apph~able INW HUffOMCl shaU pay thr amuunt uf all m~~rtgagr in.wancc prrmiums in ihe
mannr~ ~~i~~vidr.f under ~par:~~iaph 2 hcrrof
Any amu~in~. ~h.h:~s,r~i h~~ I en~lrr pur,uanl tu Ihic p:iregraph 7. w~~h :n1rrc~1 there:,n. chall heci~me add~lional
in~lrhrr~lnc~.~ ~,( li~ai~~,-rr .r:urrd h~' Ih,~ \1un;:a}~c l~nlc.. HurruNrr and 1 rn~lrr a~rcc l~ Mhcr Icrtn~ ~~( paVmcnl, wch
:im~~unt~ ~h:~ll tx• ~,.~~aMr ~i~~~m n~H~ir fr~,nt I rnd~r t~~ H~,rre,Nrr reyuetitin~ p:~ymrnt ttkc~ui.aead shall hear imerect [rom the
:i:~tr ~~f di.hurumcnt at ihc r.~Ir ~,~v:~Mr fr~~m timc ti~ t~mc ~m ou~dandinR princip:~i undet thc Notc unle« payment of
intcrcd ;~t surh ratr w~iuld Ix~ c.~n~r.~n• ~~~ a~.pli.aMr law, in whinc ~vcnt wch :~mi~ums ~hall hcar intcrect at thc highett rate
permissihte unde~ applicahle law N~Nhin~ .~~nt.~ineJ ~n ~hiti p:~raKra~h 7 ehall reyuirc I r~der to incur any eipense or take
any aclion hcrcundcr.
e. iospecnon. i cnucr mav m.~-.c ~~r . a~„r t~~ tx m:uic rea~i,n~nic rntr~e~ upun .~~U II1S~Cl'UOIIC OI IflC YfOPCI'[)I. prov~ded
that L ender •hall ~ive R~~rrowrr n~~~i.r ~ri~~r t~~ ;u~y ~nch in~pertiun epeci(y~ng rrasonable cause therofor related to I.ender's
m~crcct in thr Property.
9. ('ondem~~tan. The pnxredc .~f any award or claim for damages. direet or canuqucntial, in conntetion with a~y
condemnation c~r other taking i~f the Property, or part thereof. o~ for conveyance in (ieu of condemoation, are hettby assigned
and shall br paid to I.eoder.
in Ihe event of a to~al laking of the Property. the pr.~eeJs ~hall be applied to the cums secured by this Mo~tgage,
with the excess, i( any, paid to Bnrmwer. In Ihc cvent of a partial taking ot 1he ~Property, unlest Borr.~wer and I.ender
~therwise agree in writinR. there shall he applied t~~ the wmc cecured by this Mortgage such pmportion of the pro~etds
as it equal to that ~ro~iortion which ~he am~~i~n~ ~.f the s!~ma ~ecured by Ihit M~rtgage immediately prior to the date of
taking heara to 1he fair market valuc uf thc P;u~r~~ ~mmed~ately prior to the date of taking, with the halance of the proceeds
paid t~ Aorrower.
If the Propert~~ i. ;ihand~~nr~l h~• R~~rr~~~rr ~~r ~L :~fter n~~irc hy Lcnder to Rorr«wer that ~he condemnor otien to make
an :1N'Jid ~r ~etNe a ctaim f~•r dam.icr.. R~~rr~~wrr f;i,l. i~~ rr~~x~nd to Lender within z(1 da}•c after the date such notict is
mailed. I.cnJcr i. authari7rd to c~llcct and aprlv ihc prc-eceds. at I.endcr't ~pti~n, either to resroration or repair of the
Fropert~ ~~ t~~ the wm~ .ecured h~ thiti M~~r~eacr
:~ :~._- ~ - ~-__ - ~ u_~.~::::-, .t.t,_~ ' ~~. ., ~:~z~:..R n~ ns:~rr c tn ri..~:..a1 c-•a11 ~[u ~t(tt~
,; ..~iiiav .iiiu u..~ ~i ..~ ~i:i.~.a :itiiii : i :L~:::i :i. 3.^.Y :::. ..~.y..:~ . ~......_GE~, ~`-•-::'=i'-`
~r ~a~nc thc dur ~la~r ~~( thc m~nthh imtatlmcn~< <efcrrcd to i~ paragraphc 1 and 2 hereof or change ihe amount of
cuch mctallment~
10. Borrower No! Releaced. Extension of the time fnr pa~~ment or mc.dification of amortization of the sumc securcd
by th~c Mort~age grantrd by 1 ender to am wcee~u-r in interc~t of Borrowec ~hall not operate to release, in any manner.
tht liab~lity ~~( the ori¢ina! Borrower and Borrow•er'c sucres~~~~ in interest I.ender ~hall not be required to commence
pmceedi~g~ akain~t ~uch ~uccecsor or refuse to erlend time for pa}•ment or otherwi~e modifp amortizahon of thr sums
~c.e:red h~ thi~ M~~rtgage h~• reau~n u( an)~ demand made b} the orieinal florr~wer and Bormwer's succeicors in inlerect.
11. Forbearance bv i.ender !~of a Wsiver. Am f~.rhearance M~ I.endtr in ererci~~ng any right nr remedy herc~mder, or
~Iherwiae :+(iurded hy applicahle law. shall not t~e a~uaiver of or preclude Ihe erercise of any such right or remedy.
The procurement ~f insuranre or the payn=nt of tare~ or other liens or charge~ by I ender .nall not he a waiver of l.ender's
right !~~ accelerate the m~ti~rity of the indeMednecs ~ecured M• thi~ MortgaFe.
1Z. Remedies ('umulativ~. Ail remedies pmvided in Ihis Mnrtgage are dictinct and cumulative to any other right or
remeJy under thi. M~rt~.iRe ~r afforded hy law ~r equity. :~nd may he eterc~ced rnnc~.~rrently. independently or successivtly.
~ 13. Suctessors and Assiens Bound; .)oinl and Se.•enl I.iability; Csptions. `f~e c~venants and agreements hertin
contained ~hall hind, and the riRht~ hereunder shall inure lo. the recpecti~e succe~sorc and atvgns ~t Lender ac~a tsorrower.
wbject to the provisionc ~f , aragraph 17 hereof. All covenantc and agreementc of Borrow•er shall 'x joiry and uveral.
The ca~+tions anJ head~ngc .if Ihe paraeraphc of thic 'Nnrtgage are (nr rnnvenier.:e only and are not to be used to
~nterpret or define the prrn~~ions heree~f ' '
14. Nolic~. Except for any n, t;.e ree;e~ired under ~nplicahle law to be given in another manner. (a) any notice to
Borrower pmvided for in thic ~1~rlgaee thall be g~ven h~• mailinF ~uch not~ce by certified mail addresced ro Borrower at
the Property Addre~c c,r at ~i~ch other .:ddres, as B~~rr~~~•er mav de~~gnate b~~ nntice to Lender as provided herein, and
(h) an~ notice to t_ender shall he g~ven h~ ~erl~fied m~il. return rece~~t reyuested. to t ender'c addrec; staled herein or to
tiuch ~~ther addresc as Lender mac de~i~~ate h~ nnti:e t~~ H~~rr~~wer as Pr~~~~ded h•~rein Any notice pr~vided for in this
41~~rtgage shalt t+e deemed m ha~c f-ecr~ Fitien to Bc.rr~~~er .~r Lender uhcn g~~~en in the manner designated herein.
15. Liniform 11or1Ra~e: Go~•ernin~- I.aw: Se~rrabilit~. Thi+ f~rm of mortgage combines emiform cavenants for national
iise and non-unif~~rm c~~~enan-c H ith I~mitr~l var~atwnti h~ ~un~d~rtinn to c~nstitute a umform security insirument eovering
real pro~x~ty. This Mortgage shall he g~~vcrned M IFII' IJM ~f the ~uncdicUon ~n which the Property is located. In the
event thai an}' prova~un ~r clauu of thi. ?1i~nbaer ~~r ~he tinte c~nflictc with applicable law, such conflict shall not affect
other pmvisium of thi~ M~~rtgage :~r thr ti~~tr wh~ch r:i~ be given efiect uithout lht conflicling pm~•ic:~n, and to this
end the provi~ic~nt ~f the ~1~~rtgage and ~hr ti„te are .I~cl~red tc. he teverable.
16. Borruwer's Copy. Bormwer ~fial! hr furn~~he:i :, conf~rmed c~p~ ot ~he Note aod of Ihic Mortgagt at the lime
of txetution or a(tcr recordati~n herei~(.
17. Transfer of the Property: Accumplion. 1f all ~r any part ot the Pn~pert}• or an interest the~ein i~ cold or transftrred
by Burrower K:tl~e~:it Lender's pnc.r uni~: n.~~n~ent. e~.luding la) the creatian of a lien ar encumbrance subordin~te to
th~c Mortgage. Ih- the ~rea~~on ~f :~ ~urch.~~r m~~n« ~ecuri~~ interest f~r houuho!d appliances, (e) a trantfer h~ deviu.
dexent o~ by ~~~eration ~~f law upon thc drath ~~f a t~~~nt tenant or I~ii the grant of any leaseh~ld interest nf thrcc }•cars or less
not containing an optic~n t~~ ~~~rrhase. l ender m~~. ~t I ender'~ ~~pt~c~n, de~_I.~re all the cums secured hy shis Martgage to be
immed+atel~• duc :,nd pa}ahle 1 ~ndrr ~h,,ll h.~~r •a,,~~rd u:rh option to :+.~~Irrate ~f. prior to ~he ~ale or transfcr. Lendet
and the perum rc. v+hnm Ihe Pm~r~v i, ~~~ F., .~,IJ ~~r trancferred reach agrr~ment in wnt~ng that the credi! ~( wch person
is saticfac~or~ t:~ Le~i.ier and that the intrrc.t , a~~hle ~~n the sumti secured hy~ this Mortgage thall be at such rate a~ 1_ender
shalt request If 1 en~ler has wa~~eJ ~he ~~pt~~~n t~~ ~ccelerete provided m ~his pa~~graph 17, and if Borrower's ~uccessor in
interest ha~ executeJ a Hnuen ascumpuon agreemen~ acec~ted in wriung b}~ Le~Jer. Lender shall teieace Borrower (rom all
obl~gatu~nt unJer this Mortgage and thr'~c,t~
If I_ender eter~i~es ~uch ~piu~n t~~ a~.r~erate, LenJer chall ma~t Borrower notice of acceleration in accord•anc~ ~~~th
paragraph !4 hereof Such nut~ce ~h:,ll pruv~de a pene~ of nat Icssthan 30 days from the date lhe n~tice is mailed vvithin
wh~ch Iiu~n~wer may pa}~ the tumti drrlared due If B~rrower fails to pay such cums prior to the ezpirahon ~f wch per~c~d.
l.ender ma~•e ~~th~~ut funh•~r n~t~ce ~~r dcmand c~n liurrower, im•oke any remedies permrtted by paragraph IR herc~(.
NOP3-I1NIF~)RM C~~N'FN~!YTS Borrower and i.cnder funher rnvenant and agrce as follows~
18. Acceleration; Remedies. F:cept as pro~ided in para~nph 17 hereof. upon Borron't~s breach o/ sny tovenanf or
agreement of Bortower in this ~1or1R~e. includinR !hr co~enants lo psy r-hen due any sums securcd by Ihis Morl~aAe, I.ender
prior lo accelerslion shdl mail notice fo Borrower as pro.ided in par~raph 14 hereof specityinx: (1) Ihe bre~ch: (21 the actbn
requind to cure such breacb;131 a date, not I~ss than 30 days irom Iht datt the notict Es mailed to Bo~rower. by which sucA
bseach must be cured: and 14) Ihat (rilure to cure such breich on or betore the date spcci6ed in thc notice msy result in
acceleration o( Ibe sums secured b~ Ihis MorlRa~e, fonclosure b~ judicisl proceedin~ and sale o( the Prope-ry. The notice
shrll furtber inform Borrower of the ri~ht to reinstate a(Ier acceleratioo and Ihe riRht lo atseN in the torecbsure proceeditK
tbt non-exittence of a default or anv other det~nse of BorroMer fo icceleration and torecbsure. It the Dre~cA is not cneed os
or betore ~he datc specified in the notice. I.ender ~t I end~r's op~ion n+ay declare aD o( ~he soms secared by this yfoARs~e to be
immcdiatcly due snd psyable without turther demand ~nd may foreclose this MortR~e br judicid procetdin~. t.~nder chall
be eotitled to coUtrt in such proceedinR all expen~ei of fo~eclocure. includip~, but nof limitcd to. reason~bte art•,rnr•,'s fees,
and costs of documenlur evidence, abstracts and Iitle ~tporfc.
19. Bomower's RiRhf lo Reinstale. ti,~!w~th.r~nd~n~ I ender's accclerat~c,n ~f Ihe ~um~ secured by th~c !~1urlgage,
Borr~wer ~hal! have Ihe nght t~~ ha~e .in~ ~r~.. rr~f~•,,.. hr~un i,y Lender t~, enfnrce thi~ ,1~,rt~ta¢e d~~c~nt~nue~f at ~m lime
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