HomeMy WebLinkAbout25061 cnikr'~ wnUrn ag~ccm~nt u~ apj~l~~ahlc luw Fturn~w~r ~haU pay thr an~.~um ~~( all murtKa~;c imuran~c pnm~unx in ihe
m:~nnrr piuvulr ~ uudcr ~~ai.i~raph 2 hrreu(
Ar~~' am~nuq~ Ji~~in~:r~l h~ Irn~lrt piir.u~nl t~~ Ihi~ p:~~.~~r:~ph 7. ~~~th ~nli~rr.1 thcrr,~n, ~h:sll Fxc~a~ic add~Uonal
~nJrhirdnr~~ r( Rut~~~Nrt ,~•~~~~,•,i r,~ ~r,~; \1~~~i:.~F~• 1'nlr.~ R„rr„~~rr :~n~t I rnJrr .~}~rrc t~~ c~lhrMvm~s yP pavmrnt. ~urh
am~nint~ ~h.~l! tx• {~atahlc u~~~~~i n~~~i:r fn•m I~•niirr 1~~ B~~ii~~H~- ir.~ur~tinc p:~~~mrn1 thrrr~~(, :trnl ~Fnl) fxar iMircq from !ht
~i:~~r ~.( ili~hur~rmrnl al thr ralr ~.~~ahl•: fr~~m ~imc ~~, timr ~~n ~,u1~t~ndinR pnnri~::~~ undrr thr Nc,tc unlccti payment of
intcrcc~ at surh ratr Knuld F+c r~,ntran~ ~~~ :~p~,li:ahlc I.~w. ~n ..hirh r~cnt ~urh ~m~,unt~ ~hall hrar imc~e~l at thr highcct rate
pcrmissihlc undrr ,~~i~~ahi~ IaN. N~~thin~ :~~z~~.unr~l ~i~ Ih~. p.~r.~~i,~ph 7~hall rcyiiirr 1 rndcr to incur any eapcnce or lake
any action hcrcunder.
8. Inspeclion. I.cn:lcr mav m.~~.r .~- ..~~~.r 1~~ hc m.ui~• tc:~~~~nahlr rn~rir~ u~x~n :~nd ~n~~ctinns of the Property. provided
th;,1 I ender thall g~~•c Rurruwcr nuli~r ~-n~r tu ;in~ .~~rh inti4xchun ~(xC~(Y~n~ reas~~nahle cause therefor related ta I_tnder's
~nt~r<<I in thc Pm~x~tv.
9. Condemnation. The pnk-rc~~ ~~f anY ;IN':~rd o~ cla~m for ~irmage~. d•,rcct or ,concequential, in connection wilh any
condemnation or olher taking af the Property, o~ p~rt Ihere<~f, o~ tor axiveyar~:e in 6eu ot condemnation, are hertby assigned
and shall be paid ta Lender.
In the event of a tcital takinq of the Property, ~he pnxreds thall he apphed to the ~umt seeurcd by this Mc~rtgage,
with ~he ezcess, if any, paid !o Aormwcr In thc rvcnt of a parlial Iaking ut Ihe Pr~~rerly, unlecs Rorrower and Lender
otherv~iae agree in writing. ihere shall M_ appl~e.1 ~~~ ~he .umc ~ecured by thi~ MortRage +uch pra~rtion of the procoeds
as i~ equal to that propc-rtion which ~hr am~~n~~~ ~~( ~he ~:.m~ .ec~~red hv this ~1c.rtga~e immrdiateh~ pri~; to the date of
taking t~carc to Ihe fair markrt valuc ~~f ihr Pr~~prrn ~,nmc~l~:~tch• pnor t~~ tht date ~f ta{,ink ~i~h the halance of the proceeds
paid to Borrower.
lf the Properl)• i~ ahandc~ne~i h~ Hnrr~~Hr~ .~r ~f .~ftrr n~~~ice h~~ 1 rnder m H~~~r~~w•er that the c~ndemnor of~ers to make
ar. aw;~rd ~r tetlle a cL~im (c•~ ,1:un,icr~. H~ zn~~rr L:.i. r,~ rr.~md t~. 1 ender vcithin i0 ~1ayti after the date such notict is
ma~led. l.rnder i. auth~~rirrd te~ c~•llrci :~nJ .~~~~I~ rhr ~~r~ticrd~. at I ender', r~tion. rither to restoration or rtpair of the
PmFxr~v ~~r t~~ thc ~um, ~~~urcd M thi. \1~~r~~:,cr
l'nlec. I ender and B~rru~er ~therui~~• aerr_r ~n ..ri-int an~ wch ar~+lic:~tic~n ~f pre-ceedc to principa) shall nM extend
~~r ~x~~l~nc Ii~C du~ d;~tr .~i ~h~ m~~nth;: imt.illmrnt~ rcfi~rrrd !n in ~aragrapM 1 and 2 hcreof or Chengt tht amnunt of
~~:ch mctalimcnt; ~
10. Borrower Not R~leaced. f:~tcnvon of the t:mr f~~r ~:~~mrnt :~r m~~difir3~i~n of amortization of the sumc secured
h}• th~c Mort~age ¢ranfed h~~ 1 ender tr anv cu~ce.u~r ~n intrrr.t ~~f R~~rrc~wer ~h~ll m.1 oFx:ra:e to release. in any manner.
the habdi~y of the original Burrower and Bi~rrowrr'~ .u.crc.~.r. ~n interect 1 ender ~hall not he req~~ired to eomm~nce
~n.ceeding~ againct curh wccecsar or refuce tn cr~enJ t~mr (e~r pa~mrnt c~r .~then+i~c modify am~rt~zahon of Ihr ~ums
~e. ured M thi~ Mortga: r h~~ rrac~~n o! :inj~ deman~ madr M the ~~rieinal Bnrr~~uer and B~~rmw•er's aucces~or~ in intere~t.
' 11. Forbearance by l.ender tiot s Waive~. Am fi~rharanic M~ 1 cnder in c~crc+cing ~m• rigM ~r remedy hrreunder, or
~~thenvice afT~~rdeJ h~~ applicahle law. shali n~1 hc a waiver c.f ~r precluda the ererci;e of 3m~ w.h righi or remedy.
l~hr prcxurement ~f insuranrc or the paymcnt ~f ta~c~ or i~ther licr.~ cu rhar~;r~ h~ l cnder ~hall ~at he a wa~ver of Lender's
right t~~ acrcler:irr the ma~unty ~f the indehtedne~c crr~~red h~ thic !1lortcaec
12. Remedits ('umulative. All rcmediec pmv~drd in thi. !-turtcage are diztinrt and cumi~iative to any other right or
reme~fy under th~. Mc.rtc~ge or afi~rdrd hy I: w~~r ey~it~~. :~nd ma}• he eterc~ticJ r~~ncurre~tl}'. independently o~ succetsively.
~!3. Suec~ssors ahd-AcsiRnS Bound: aoint and Se~er~l I.iability; ('yption~. The crnenants and agrrements herein
rnnteined chall hind, and t~he riQhtt hereunder shall m~ne t~. the re~pect~ve ~uccetisi~r~ and a~signs of Lender :snd Borrower.
subject to the pravi~ion~ ~f ~para¢ra~h 17 hereoC All covenanls and a¢reementc of Borr~wer Shall be juiry and uvera!_
~
The captions and FieadinRs of the raraerarh~ ~f thi~ I-1~rtg:~ge are ft~r cnm~emence only anJ are not to be uced to
~nterpret or define the prrn~~~ii~m herec~f.
14. Nolice. Except fot ~m• n~tice rry~~ired uniler :~p~licahle !aw t~~ Fx gi~~en ;n arn~ther manner. ~a) any notice ta
B~~rmwer provided for in thic ti1~rt~aee ~h~ll he gi~~n hy ma~lin~ wch r.~~hce h~ rert~fied mail addre«ed to B~rrower at
the Pn~perty AJdrec~ ~r at ~uch uthrr ~ddre~. ac N~+rn+uer ma~ dec~gnnt~ h~~ n~~~ice to 1 endcr at pr~vided herein. and
(hl am• notice to Lender chall ~e gi~cn h~ eerhfire! m.~~l reti~rn rcce~rt reyue~ted t~ t en:ler'c addrecs stated herein ar to
~urh other addres~ a~ I ender ma~ de~ienate h~ n~~t~:r t~+ B~~rn,~er a~ ~n~•.~dc~i hcrem Any n~tice pr~vided for in this
~4~~rtgage shali be deemed t~. ha.n c~rn e~~~n t~~ R~~rr~~:+~r .~r t rr:drr ~hen R~~en in the m,~nner de~ignaled htrein.
i5. Uniform tilortKa~r. Gnrerj~in~ I.aM: Sr.~rabilih. Th~S f~~rm c~f mor.qaee c~~mhines t,niiorr?m covenanls for national
u~e an~l non-unifrrm c~~.enar,r. with I,rnitr~i :,,n,~~:,~r~ F~. ~e~r~..i~~t~nn t~~ conct~tute a un~form secunty inslrument covering
real propeny. Thic ~1cutRagc Sh~ll tx ~;~~~rrn~d h~ !nr 1..K ~~f thc ;urisJict«n in whic~~ the Property es located. In ihe
event that a~y pruvis~un or clau~e nf th~. !-1~~rtg:,ic ~~r ~he \r~e cc~nflictt with app!icab!e law. such conflict ~hal) not affect
c~ther amvisions of thi~ Ai~~rt~at;e ~u thr tint~ ah~;h .:~n hr g~•en etlcct Nithc~ul Ihe conflicting provicion, and to this
end the pru.itiom ~i thc Mrrteacc and thr ti;,tr ~rr ~ir~l.,+re1 t~, he ~everahlc.
16. Borrowers Cop~. Born~~~r tin:~il h~ furn~.hc~i .~ r+~nfi~cm~c', cu~} of thc'`+ote and of thia Mortgage at tht time
of e~ccution e~r af~rr re:~~rdati~in hereuf.
17. Transfer of the Prop~rt~; Ac.umption. If ,11 ~~r am part of ihe Pr~~perty or an interest therein i~ c~ld at transferred
by Borrower withuut Iender's ~+n.~r wnrr,:,, ,~~n~rn~ c~~luding +~~ the ~reatinn uf a lien ~r encumbrance ~uhorJinate to
thit M~rtgage. Ih1 Iht creahc.n ~! :~ ~ur.h•~~~~ m~,nr~ .ciunt~ ~nterest fc~r h~.uuhe~ld applianct~. (c1 a tran~fer hv devist.
de~cent or hy c,peration ~~f l:sa np<~n the ~lraih .~~ .~ ~~~~nt tenam i~r ld~ the grant of am Ieaseh~ld interest ~f thrce }ears or lecs
not containing an option t~~ purchate. I ender rna~ :~t I cnder'. ~~pt~~~n. de.l.:~r ~li the tiumc ucured h} th~s 4lortgage to be
~mmc.f~ateh• duc and pacahlc ~ rndrr ~h,~ll h.,:r u,~~.r~i ti~~:h opt~~~n t~~ .,__t•.rrate ~f. prior to the ~ale or transfcr. l.ender
and the pers:~n t~~ Khc~m the Pmpert~ ~. r,~ hr .~~I:i ~~~ tr~ns(erred reach ,,grc~ment m unting th~t the cred~i ~~( wrh peROn
~~ sat~sfa:torv to I.en~ier and that tfie intrrr~t ~a~ahte nn thc sumti ~c:ured h~ ~hts Murtqage thall be at such rate a~ I.ender
shall req~est I( I ender has Ka~veu thr c~p~~~~n ~~~ ~rr~~erate pr<~viJrd ~z~ ih~s p~ragraph i7, and if Borrower'~ wccessor in
~nterect ha~ executeJ e~+ritten as~um~iinn e~;rermrnt accepttd in ~nting by I.ender. l.ender shaU relea~e Borrower from all
obligat~nnc un~er thit M~rtgage and thr ti~,tr
If Lender e~erc~tec ~uch optum n~ a.;e:rr.,ie I en.t~~ .hell ma~l Rc.rrower nat~ce ~f accelerauon in acc~rdnnc. ~.~~h
paragraph Id hereof Such nc~t~ce ~h.~ll nn+v;de e~+rn:~d uI nrt les~ ~han in dayt from :he date the notice is ma~led with~n
wh~ch Bormr~er may pay the sumc de:lercd due It H~rru~cr failti ~o pay ~u:h tiums pnor t~ the ex~irahon uf si;ch pcn.xi.
Lender may. wishuut further not~ce ~~r +irmand un ti.~rrower. ~mole any remedies Exrmitted h}~ paragraph 1R herec~f.
Noy UNIFORM C~:)~f VANj< Bormwer and 1 ender funher cover.ant ~nd agree as follows
I8. Accelcration; Remedies. F.xcept ~ pro+ided i~ p~ra~raph 1~ hereo(. upoo dorrower's bresch o! aay covenan/ or
agrecment of Bonower in this ~1ortRaRe, includinR Iht co~cnaMs to p~y when due any sums secured 5y this MortR~Ae. I.ender
prior to sceeleration shall mail nasice Io Buno..er as pro~ided in para~nph 14 Aereot specifying: (1) the brcach: (21 the setbn
rcquired to cure such breach; 13) s da1e, no1 I~cs lhan 30 da}c from Ihe dalc thr nofice is mailcd to Borrower, by whicb sucb
Mrach musi De cured; snd (4) that failure to cure such breich on or beton the date speclfied in the notict msr ~esult is
accekration ot Ibc sums secured by Ihis tilortR~e, foncfosure by judicial ptoceedinR •nd sale ot the Properry. 'iAe ndke
sha11 turther intorm Bor~ower of Ihe ri~hl lo reinclsfe attcr scctknfion and tht righl lo useA in Ihe foreclosure ProcetditK
the non-exisltnce ot a default o- anv wher de(en.e oI Sorrower to accelention snd foreclosure. 1t Ihe bre~ch is not ennd on
or betore Ihe dsle speci6ed in Ihe notice, l.ender at 1 ender's option may declare all of the snms secured br thk ylo~t~aRe to be
immed;ately du~ snd parable without tunh~r d~m:,ne and may forrclose this Mort~~e by judicial pwceedln~. I.ender chdl
be eotitled to co11eN in such proceed'e~ a{I eipen+eti .~( forecloaurc, includirrt, but not limited to. rruon~ble an.,rnc:'s ftes.
and costs af documenlary evidence, abstracts and ~i~le reporls.
19. Borro~-e~'s Right to Reins~ate. ti,:~w,~h~.!.u~~f~;~~ 1 en~i~r s accelcrahnn ~/ th~ ~um< <ccured hy ih~~ !~1<~rtRagc.
Horruwer shall have Ihe nght t~~ ha~r .~n~ ~n~_r~:1 ..; ~,.•;,:,, ~,, Lerdtr t~~ en(~:•~c Ih~. ~1~,rt~.+~tc J~~:~,nh.^.ueJ at en~ t~me
~ ~:~K 351 ~~~E 2 ~02