HomeMy WebLinkAbout0761Lt~nders wntlen agrecrment c~i appi~cat~~e ~aw Bv~~~~we~ sh~~l1 pay the amounl oI a1J ~Pe1y!!1~'insut~nCE; prem~ums ~n ihF~
manner prowded un4er parag-aph 2 he~eot ~
Any amouMS d~sbursed by Lencler pursuant to th~s paragr~ph 7 w~lh ~nteresl thereon shatl hecume ad~l~t~onal
~ndebteciness ol Borrower secured by Ih~s Morigage Unless Borrower 2nd lender ayrt~e to olher je-ms ot paymenl. such
amounts shall be payable upon nolice fiom Lender to Borrowe~ ~equ~st~ng paymenl tt~ereol ancl sha~l bear ~nterest trom the
date of d~sbursemenl at the rate payable Irom Lme to hme on outstand~ng pnnc~pal ~nder Ihe No1e urness payment ot
~nterest al5uch rate would be contrary to appl~cab-e law. in which event such amouMS shall bear ~nterest at the h~ghest rate
perm~ss~ble unde~ appl~cabte law Noth~ng conta~ned ~n th~s paragraph 7 shall requ~re Lencle- to ~nc~r any ex~,ense or take
any acl~on hereunUer
8. 111spACNOff. lende~ may make or cause ta be made reasonabie ernners upon and ~nspect~ons of Ihe Pn~perty
providedlhat Lender shall gwe Borrower nohce (~nor to any such ~nspechon spec~ivmg reasonab~e cause tnerelor related to
Lenders mteresl in Ihe Property
9. Cand~mnatiOn. The proceeds of any award o- c ia~m for damages. ~f~rect or cunsequent~al in connechon w~th any
condemnaUon or Mher tak~ng o! Ihe Property oi part Ihe-eol or br convey.inr,e ~n !~eu of condemnaUOn hereby ass~gned
and shali be pa~a to lender
In !he event ot a totat tak~ny ot the Property, the proceeds Sh~~u be a~pt~ed to ihe sums secwed by Ih~s Mcrtga~e
w~th Ihe excess. ~i any pa~d to B~rrower In ihe event ot a partiat -akinq of ihe Property unless Borrowe~ and Lende-
o!!:erw~se~ ag~eQ m wntmg. there shau he appl~ed to the sums secured t~y th~s Martgage such proporUon ot Ihe proceeds
~S is equai to thal prOpo:tion which !he amuunt of the sums sec~red by ihis Morl~ag~ ~m~diately pno~ to 1he date of
taking bears to Ihe lair market value of the Property ~mmed~ately pnor to -he date ot tak~ng. w~th the baionce ol the procee~s
paid to the 8orn~wer
I} the Property is abandoned by E3orrower, or ~f, attor not~ce hy Lender to ~orrc,wer that Ihe condemnor olters to make
an award or setUe a cla~m for damages Bo-rowe- fa~ls to respond to Lender wrth~n 30 days alter the Cate such nohce ~s
ma~ied. Lender ~5 author~zed to colleci and apply the proceeds. at Lencfer s opt+on. e~lher to resturat~on or repa~r ot the
Property n- to the sums secured by th~s Mortgage '
Unless LendEr en~f Bonower otherwise agree in wnhng any such appl~cation ol proceetfs to pnncipal sha1~ not extend
or postpone the due date ot the monthiy ~nstaliments referre~! to ~n ;~aragrapns t and "1 hereof or changp the amount of
such ~nstai!ments
i 0. Borrowe- Not Released. E xtens~on of the t~me for payment ~r mocf~hcal~on o~ amort~zat~on ot the sums secured
hy th~s Mor?gaye grantecl by Lender ro<~ny successo- ~n ~nterest ot Bon~wer shaH not ope+ate to release, ~n any manner
tr.e ~~ab;f~ty of the or~g~nal Borrower and Bnrrewer's successors ~n ~nterest Lender shall not be ~equ~-ed to cammence
proceed~ngs agamst such successor ar reluse to extend t~me foi payment or otherw~se mod~fy amort~zaUOn ot Ihe sums
secured by ih~s Mortgage by reason ot any demand made~by the o-~g~nat Borrowe- and Eiarowers successors ~n ~nterest
11. Fo-besrance by Lender Not a Waiver. Any forbearance by Ler.der m exercis~ng any nght or remedy hereunder.
or otherw~se aifor~ec~by app~~caUle taw. sha~! nat he a wa~ver ot or prectude tne exe•c~se o! any such nght ~r remedy
The precuremenl of msurance or the payment of taxes or other I~ens or charges by ~ende~ shaU not De a wa~ve- ot Lender s
r~ght h~ acc.eierate the matunty ot the ~ndebtedness sACUreci by ih~s Plortgage
12. Rsmedles Cumulative. Ali remed~es p~ov~ded ~n th~s Mortgage are d~st~nct and curt.~ulat~ve to any other r~ght or
remedy under th~s Mp-tgage or atforded by Ia~v or equ~ty and may be exerc~sed concurrently. ~ntfependent~y o- sucCess~vely
13. Successors and Assigns Bound: Joint and Several Liability; Captions. The covenants and agreements
~~;rem conta~ned shai~ b~nr~. and the r~ghts he~eunde~ sha~+ ~nu-e to _ the respect~ve successo-s and ass~gns of
~ender and go-rower ;ub~ect to 1he p-ov~s~ons of paragraph t 7 hereof A!I cr,venants and agreements o1 Bo-rower snatl be
;oent and severai The capUons and t~earimgs ot ?he paragraphs o1 th~s Mortgage are for coven~ence onty and are not to be
used to ~nte~pret or define the prov~s~ons hereof
14. NOtICe. ExCept br any notiCe +equi~ecl under appf~cab~e iaw to be g+ven m ano-her manner -a) any nohce to
Borrower prov~ded fo- ~n tn~s Mortgage sha~l ne g~ven by ma~lmg such nr~t~ce by cerhheci ma~l addressed ?~ Borro~ve- at
the Property Address or at such otr~er ad~ress as Borrower may des~gnate by notri;e to Lender as prov~ded herem. an~f
ib~ any not~ce to Lender shal, be g~ven by cerl~he~i ma~i return rece~pt requested to Lender's a~id+ess Stated here~n o~ to
such other address as Lender may des~g^ate b, nohce to Borrowe- as orov~ded here~n Any not~ce prov~ded for ~n th~s
~~lortgage shal! be dezmed to have been q~ven f~i Sor~~;v~e- or LendCr wnen q~ven ~n th~ manner desiynat!~d here~n
15. Unitorm Mortgage; Goveming Law; Severabiliry. 7h~~ to~m ot mo-tgage comb~nes un~form covenants ~o~
•~.+ti;,n~~ uSF~dnc1 nOn ~~ni};~rrr. ['n:r,r.~n'~. ..~'1 srr !rtrl .,~~„~?;•,r.; t~y ~;;•,~,~:~r.i~r:•l 1~; ~ ,nihtut~l.~~ unrfr,rm Ser-unly ~n~trumF~nT
':~~:~("1^f~ fF?:~~ ~~.~~j~F'fl~ Th(i S~.~tft ~9!'i: . „ .a .i:: , .ft;~, ~r ~a: .~. ,.-, '1,._, ~f ~~r~~~.l~)~~ Sr~:i' t,~• `hn ~:/W i U11ht' ~ti•'ti~:i:.'~r,r, :.~ tJr':! h.
..~, P~~~i~~• ~. ~S ~:':siF.is 'h~. ~~,~~~t~~~ ~.~ _,~• ~•~-r~,.~. :,• .i~ ;r , ,~ ~~~a~.t: ~ i~ :ft: ."~•~:t=~d' ,~.: •r, ~.,~c r,~r,~tr r c~ , r~ ,+
%t ': Z:f ~ I! i~•i~:e~ .
'!l:i' .:':~y :i' ,.:iri,n ;-f' r :;f:i'>~r , . ,.S ~:':','•~;~f;:~. ;~. .r.r• tJ~,'F• ~ ., .`~ • . . .::fh. -iUC, ~ .•~:;`f~ .fLS ~i.:i h rrnt~~. . . ;~l~i!' nn! .f!`f'r' t)!h(~r
T7 iV~Sl..f15 it ~h15 ~v~l ~C t(• r• 1~(. i j ,!~•' f ~~. ~~ ~ ~
'f ~~ r '~ ~t 3. ~~ . '~ .. ,'.' .f^ ::f. r~:,r... ~.~t~., ` .:;eh.~ ~. r..: . ,. .,., ,rZr) (l•(~I. . .:n .a^~1 , i', p'~r t :P
jtr7~~iSi~~nS C)11hP P~fi!TOFiC~P .i~ir~ !~;n F~ ,h• ,a't• ~2~•, '<f'~•;f 'r. t,~-'.~•:~•~.fi~',~•
16. BorrOwe~'s Copy. Bonower snau be tu-n~sh~d a contormect c~~ny of the FJ~,te en~f ~t th~s Mn+tgaqe a! the t~me
ot execuhon or atte- recordahon hereof
17. Transfer of the Property; Assumption. If a14 or any part ot the P~~;perty o~ an mteres? the~e~n ,; soic~ or han;terred
by fiorrower without len~iers pnor wniten consent. exc~~~i~ng ia~ The creah~n ot a ~~en or encumbrance suborcLnate to
tn~s Mortgage. Ibl the creat~~n of a purchase m~ney secw~ty ~rne~est }or household appl~ances Ic- a Iranster by dev~se
descem or by operahon of law upon the death ot a ~o~nt tenant or id~ tne yram of ~ny leaseho~d mte-est ol Three yea-s or tess
not conta~mny an option to purchase Lender may. at Lendei s option declarc a11 the sums secured by th~s Mortgage to be
~mmed~ately due and payable Lender snatl have wa~ved such opt~on to acce~era;e ~f pr~or to the saJe or iransfer. Lende-
and tne pprson to wnom me Prope-ry ~s to be soth or transter-ecf reach agreement ~n wnhng rhat ihe cred~t ot such persan
~s sat~stactory to Lender and tha? 1he +nteresi payab~e nn the sums secu-ed by th~s Mortgage shat~ be at such r~te as Lende-
shall request II Lender has warved the optionlu acceterat~ p-ov~ded m ih~s paragraph 17 and ~f Borrower s successor ~n
ante-est has executed a wntten assumpt~on aareement accepted m wnhng by Lender Lende~ shati release Borrower hom a1~
obi~gat~ons under th~s Mortgage and the Note
~~ lende- exerc~ses s~ch op0on to acc.eterale. Lender sna~i ma~i Borr~we~ not~ce of ar.ceierat~on ~n accordan~e w~th
paragraph t 4 hereof Suc~ not~ce shai~ prov~de a per~od o! not less Iha? 3!0 cfays from the date the r,ot~ce ~s ma~leti w~th~n
wh~ch Bonower may pay the sums decla~e:i cfue If Borr~wer ta~ls t~ pay such surr~s pnoi to the expuahon ot such penod
Lende- may w~thout further nohce or demand on Borrow~r. ~nvoke any,remed~es Rerm~tted by pa~agrapr! ! g hereoi
NON UNIF~RM COVENANTS Bo-rower and LenCer lurther covenant and agree as foiiows
18. Accelerstion; Remedfes. Except as provided in paragraph 17 hereof~ upon Borrower's bresch of any
covenant ors~reement of Borrower in thts Mortyaga~ including the covenants to pay whsn due sny sums secured
by thfs Mo~tgs~~, L.~nd~r p-ior to scceleration shall mail notice to Borrowsr as provided in parsgraph 14 hereof
specifyiny: (1) ths bresch; (2- the action required to cure such breach; (3) a date, not less than 30 deys irom the
dsteths notice Is msiled to Borrower, bywhich such bresch must bs cursd; and(4) that tafluretocurs such breach
on or before the dats specified in the notice may result in accsteration of ths sums sscured by this Mortyags.
foreclosure by judicfal proceeding and sale of the P-operty. The notfce shall furthsr iniorm Borrowerof the nghtto
roinststs aRer acceleration and the right to sssert in the foreclosurs proc~eding th~ non-sxistence of a default or
any other defense of Borrower to acceleration and foreclosure. If ths bresch is not cured on or betors ths dats
apecified in ths notice, ~ender at Lsndsrs optfon may declare ell ot the sums sscured by this Mortga~s to be
immediately du~ and psysble without fu~ther demsnd and may forecloss this MortgAye by judicfal procesding.
Lender shsll be entitisd to collsct in such proceedin~ all expsnses of foreclosure. Including, but not limited to.
~easonable attorns~s tees, and costs of documentary evidence. sbstracts and titls reports.
19. Borrower's Right to Reinstste. Notw~thstand~ng Len~iers acce!e-at~on of -he sums secured by th~s Mortyage
Borrovr~- shait have Ihe nght to have any proceecimys begun by Len~~er to enforce th~s Morigage distontinued at any time
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