HomeMy WebLinkAbout0926 . ~
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8. Iasp~ot~oa. I.~ my? malu or catiw ~o b~ a~ e~oorbi~ eai~ opoo aad ~tioa~ ott~ p~op~et,~?, pnividd tbat La+de~ ~6a11
~iw B~row~r ao~ia odar b unr ~~~D!~s e~ewooaW~ ~cano~ th~Eo~ r~laad b tw~s iaterWt ia ~ Px~p~ey. ~
9. Caode~nsdoa.lU~ peoa~ds al ~qV ~wasd or daina !b~ dam+~++. ~irtet ar coo~qwa~tlal. in ao~nn~dioa ~rI~L atqr aood~netl~c~n ~ ;
ot~?~ ta~ a[ t~ P~P~b+. or paet t~of. os ior ooav~Y~aa fn Hon d oondw~uslion. ars b~e+~rby u~d~a~d aed ahsll b~ p~id ~o Iwadw ~
In tM went ot ~ eotal taki~as ai tis~ Pto~rR~?. th~ ~eoo~ shall b a~d to t1~ wms wnrd tbi~ l~ioetia~u. wlth tM i! aqr.
paid to Baerowsr. In !bs fwat ot a p~etial takiai oi tts~ ProO~?. mlaM Bae:~awac ~ad I~d~ ot6~ia~ ~ew ia weitit~. sh~ll bt ;
app~iad o~ il~t sam~ ~ue+~d M? ~~[oet~s~+ wcb propoor~a~ at tL~ Roa+di d is eQaa1 ~ that peaporsios w~bica tM amode?t d t~ nm~
~ecorrd bp f~is b~oet~a~ ia~IaWy yeiosr ta tM dat~ at ~ bMr~ 1o th~ tait m~rk~t w1w sitM Ptop~ryr imm~t~b ~rSOC ta t~ dah d
takin~, witb t1u balanoe Q[ tM pe~ooMd~ Daid 0~ Bcerowre. '
lf tl~~ AvPaty i~ abandoaed by 8oc:uwer. or i~ aR~ natic~ by Lad~e to ~oet~o~wrs tbat tbs aoodeoonae o~ ta m~1~a an a~eaidoc NttM •
claLn ~os dam~. Hoeeo~r+! tsib to rupoe~d ta Lodsr.nitbin 90 day~ albe tM d~?te a~ch a~ia M maild. L~ee~cl~r i~ ~a~o~is~d b ool3~ct~
app~y W~ p~oo~eds. ~?t Lade~~ oyKoa, eiarr ta rs~tata~ion a: iepair oi tb~ pe~opeetyr ar io tb~ ~om~ Mc~r~d b~r tbis Mortsy~
Ua1+N Iwnd~r ~nd BonaNroc otb~nvia~ ia weitini. aw? s~h appteeatioa af ye~ooe~ds tn ~iAdpe3 shaU aot a:tNUd or po~lpa~a ~M ~r
date o~ the awnW1.Y in~tall~ab t~rnd to in parasrs~ 1 aad ~ bu~wt or ch~u~a W~ amow?t at a~ch install~is. ;
10. Borrow?er Nat Rels~sed. B:ta~~ion o[ tha tieas for Daym~nt or modi5c~tion of wmo~tisatioa of tbe wms s~c~d by fAi~ ~fo~et~~p
~ranted by L~nder ~o any snooaror in i»teeest oi Ba~so~raz shall not opsra~a to e~ele~~e~ in anY enanaer. tbe HsbiUb? dtb~ arl~inal Boee~u*~'er ~y
and Horeowror's suaoeoao» in inteie~t. L,eader shall not be re4nired to a~mmeoos pe~oos~+dins~ aiunat ~ch woca~w~ o: ~tos~ to
for payment or otherw~ise modf b amo~tisation of the ~urns ~ecvnd by? this Mort~+~e M? rsa~on ofa~ d~m m~e by the ori~inal8oerow~r
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and'Boxower's sucoes~on in intered.
11. Forbauaaoe b7 Iwsder Nbt a 1Pai~e:. At~l torb~sr~nce by Iwader in ~serci~dni an~r s~bt ar cen~d~ bei+wn3rs. ar otb~rwL~
s~orded by applicabk law, sl~all ~ot be a~saiwr of or prsclnde ebs axerci~e ot say ~ncb eiRht o: e~~medy.'1Ls proe~r~m~nt of insurana~ ac ths
paymeat of taze~ or othes tie~u or char~a by Lendas ~hall not be a waiver oi I,sndet'~ si~t to ~ooai~ats the mstarlty ot t~ indsbt~dnw
.acured by Wis Mortsa~e.
12 Remedia~ Gtiunalati~a All reaosdies pvvided in this Ma~a~ ara+distinet end wa~n]sHw to aay athK riQht ar rsmdy nndn thL -
Mortrage ~ atYoe+dad by law or eqnicy, and m~y be ezerci.s~i ooncarreAWr. indep~W? or suoca.dvely.
13 Suoces~on and Aaip~~ Boond: Jdnt and 8evenl l.fsb~llb: Cap~tioa~. The coveaant~ u~d us~h t~n ooatained ~haU
bind, and the rights 6eseundrr ~hali inurs to, tbe repective snooerors snd aa~n~ o[ I.end~r aAd Haema~c. ~nbject to tM pe~c~vido~ a[
Pa~i~P~ 17 hereof. All oovenants and a~enta of Bocro~ree ~haU bs joint snd ~1.'Ibe aptia~s and h~adinP of the pastiraph~r d °
this MoetgaBe are for coveaienoe on1Y and are not to be n~ed to interpret or de6ns tb~ yearidao~ Leeeo~
1~. Notice. Except for anY notic,e required nnder applicable law~ to be givea in another manner. (s) aay notice to Bormwer poavided for in
this Mortgage shall be given by mailins wc:h notioe bY oerti5ed mail addra~ed b Bo~ro.?r.r at the Pro~ty Addnw or at sach o~tber ~ ~
Borrower n~sy deeignate by notice w I.tn~er as provided het~ein, and (h1 ~ny nati~oe W L~der shall be ~[ven by vMiSed mail. ritn~n r~aipt
requeated, W Lender'i address stated herein at to such ott?~ addrew a~ L~d~s m~y de~naRe by rsotios to Bon~o~?ar a~ psovidd heraia. Anp
notioe provided for in t~ia Mwrt~age ahall be deemed to have beai siven to $orro~?~r or La?der whes~ pve~ in tbe manner dar~nated lu~eia. ;
15. Unifocm ![ort~a~e; Governin~ I.~iv; Sever~biiity.'Ibi,s form of martsa~e oombine~ nniform oov~aanb for aatioaal asa and non-
unifortn covtnants with limited variatiass by jnrisdiction to ooaatitnte a unffam ~ecurity in~trua~t aoverin~ real ~operty.'I1~is Mort~~e
ah all be governed by the law of tbe juriadidion in which !!~e Prvpetty u located. In the event that any provi~ion or clao~e of this M~a~e or
the 2vote conflict~ with applicaWe la~v, ~nch oonilict shaU nd aKect otha+r pe~oviaion~ of this Mort~ase or t!?e Note ~r6ich caa be ~ivea e~ed
without the conflictin8 Proviaion. and to this end the provisions ot the Mortgs~e aad the Not+e ars deelared to be rev~rable.
16. Bormwer's Copy. Borrower ~hall be Eu~rniahed a coaformed oopy of tbe No~e and oi thu M~s~e at !he time of e~cecutioa ar aft+a
r+dation hereof.
!7.'IYansfer ot t6e Property; Aaumption. If all or sny part of tLe Propaty or an inteetist the~n i~ sold or tran~fetred by Borrower
withoot I~ende~a prior writtea oon~st, esctndin8 (a) thc creatian of a li~ or eawmbrsnce eubardinate to thi~ Mmrt~a~a. (b) the cra~tia~ ot a -
purchase a~oney security interest for hoasehold appfianCe~, ic1 a trans[er by devi~t, de~cent or by operation of 4w npon ths ~ksth of e yoint
tenant or (d) the grant of any kaaehold inte~t of three ytars or l~.. pa oon~.n ovaon co ~a.s, Leadar may. at I~endet's option,
decfarc all't2se sums securect by thia Mart~a~e w be inna~ediately due and payabk. Lenda ~hall tuve weived snch o~tion to wooelerate if, priar
to the sale or tranafer. I.endsr and the per~on to ~rhom the Propeet~? ia to be sold os ttsnsfe~i nach a~reem~t in writias thattht cndit of sach
' person is satisfactary to I.ender and tkat tt~e intereK payable on the snm~ ~ecnredby ~hu Mortga~e aball be at wch race as Lender ~hell f
reqnest. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrowe~s snooeao~r in intered ha~ esecnted a
writt~ assumpteon sBreement accep~ted in writing by [.ender. Lender ahaU relesse Borrowa ficom all obtigati~s nndes this Mort~sse aad the -
Note.
If Lende: eze~cises euch option to accelerate, L.enda shall mail Horrower notioe of sooeleration in acoordence aitb para~raph 14 hereo[
Such notice shall provide a period of not leea than 30 days trom the date the notioe u mailed within w~hich Borwwer may pay the anm~s decland .
due. If BorrowQ laila to pay anch aums prior to the expiration of auch prriod. Lender may. witbout fnrtha natice or demand on Borro~ver,
invoke any remediea permitted by paragraoh 18 hereof.
18. Aoceleration; Remedies. Except ss provided in parasraph 17 bereot, apon Borrower's breacb ot an7 oovenaat or
agreement ot Borrower In t6b Mortta~e. includins tbe caveaanta to pe,Y wrhea dae ao7 wmr ~red b~? this NoctSa~a I.iad~r
prior to aoceteratioa shaU mdl notice to Borrower a~ provided in pussrapL 1~ hueotspecilyrtns: (1) the breac~; (2) the action
required to cun ~nch breacls: (3) s date, not lsw than SO dap~ hom the date tbe dot~oe i~ mailed to 8orro~ver. M~ w?bicb wcb
breach must be cured: and (41 thst fatlure w cnre socb breac6 on or before the date ipeeftied in t6e twtioe ma~? re~ult in
aooeleration o[ t6e snau ~ecured by thia ltort~a~e. toreciosnre by ~udidal proosedta~ and wle oithe Prop~ty. Tbe ootice shali
further infarm Borrower ot the ri~ht to retnstste iRer ~eoeleration and tbe risbt to awert iia the foreclosun proosedia~ tbe
non-e=isttnce ot a detanlt or any other defense oi Horrower to aecai~ation and toreclowrs. I f tbe breach is uot cnred oa or
be[ore tl~e date specitied ia the aotice. Lender at L,eader's option mw~r d~elare aU o! t6a wim~ secnired b7? thL Yort~a~e to be
immediately ~fue and payable without t~rtbar demand aad asay loreclo~e thii 1[ort;a~elry jndicial proceedin~. I.e~der shaU be
entitled to collect in such proceedi~sg ali e:penses of torecLowre. includins. but not limited to. reswunble sttornef'~lee~, ~ad
~sts ot documentary evidence. ab~tracts and title reporta.
19. Horrow~er's Ri~ht to Itef nstate. NawichatandinQ Lender s accelaadon otsl~e sua».ecured by thi, Moct~+~e. Bamwer s~all have
the ri~ht w have anY Prooeedin~+ begun b~? Ixnder to entozce thia Mwrt~+~8e diacantinned at any time priar b entr~r of a jad~maiat eafaecins
this Mortgase if: (a) Bortvwes poys t.ender all ~nm~ which wouW be th~ due utder tbi~ Mo~+Be. tbe Nots and note~ sscnrin~ Fbtar~
Advanoea, if any, had no Qoceleration occurred ~(b) Borrawes cures all breaches otanY other oov~anta ar ap~ment~ of Borrow~r oontaind in
ihir Mortgage: tc) Borr~a payn all reaeoasble expenses incurrrd by Leades in eQfotcing ths cova~naata and a~rea~snt~ oi Hozrower
oontained in thi~ Mort~age and in eaforcin~ Lendez's remedia a~ provided in para;raph 18 hereo~ incladit~, bM nd limitd to. e~bi~
atWrney's fees: and (d) Borrow+er tekes surh adion as Lender may rearonaWy re9nire to ersnre thst tbe lien of this MottQas0. I.endec'~ iwtee+ert
ia ttu P~oyaty ~ Borrowe~~ obfi~atioa b yay tbe snau securecl by this Mmt~a~e ahall cantiane nnimpairsd. Upon wch p~ym~nt a4d carr
by Botroaa, this Mort~a~e and the ohliQation~ s~zused hereby shsll e+emain us fnlt face aad 4lfeet ar ii no aa~eleratiaa had oc~e~rrd
2p. Auipsmeet ot RenL; Appotntment of I;eoeiver. A~ sdditional ~ecvcitY hereunder, Borrower hereby s~si~ ~o L~udee tbe raa4
of the Property. provided that Borro~ver ~hall, prior to aaxleration nndet pars~raph 1 S hereof or ~bandonment of the Propesty, haw tlie ri~ht
to callect and retain such rmts as they become due and pwyabie.
Upon scceleratioa nnder ps~ra~raph 18 haeof or abaodonmeat of etu Propettv, I.ets~er shall be eatitkd to 6ave a te~ve~ appoiatad by a
c~ourt to entrrapon. takc po~aion of and mana~e the Property and to oollect the rrats of the Propaty~ inclndia~ tbo~e w~t dua. All r~ab
oollected by she ebo~ver ohall be applied tint to payment of the owts of noana~cmeat ottha Avpaty aad eollect~on of rent~. indodins. bet not
limited to, eeceiYar's {~es. Pramiunns aa receiver's bond~ snd reasoaabk attorney'~ fees, snd thea to sAe snm+~ ~ecund bY thir Mo~l~ap.lLe
reoeiver ~hall be linbk to aoconnt oa3y i~ t1~we reat~ actnaUY reoaved.
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