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Home My WebLink About0968 ~ i • , . • ~ t :1~: ~ . l cndrr'~ wrn~cn agrermcnt ur ~ppl~rahie luw. Hurrov?er shall pay thc amuunl uf all muhgage imurance prcmiums in the mannrr pruvidr~l undcr para};t~ph 2 hereof. Anp arnuunh ~I~.h~u,r~l hy 1 rn~lc? purwanl la Ihis p:uagr~~h 7. w~~h u~lrrc~l iherto~. chall btcomC addilional ~n~lrhirdnr,. 11~,~r~,wrr ,ccurrd hy ih~. Mun~.~~;c t!nir.. H~,rruwcr :u?d 1 rn.lcr :~~rcr t~ othcr termc ~,t paymcnt. xuch -am~.uM~ +hall tx pa~•aMr u~x~n nu~ii•r fmm 1 rndcr w H~~rn~..cr reyuc,link p:rymrm Iherr~~(. and ~hall hear interest trom tht date of ~li~burcrment at the ratr paYahle fn+m time tu t~me ~~n outclandinK principal under the Nott unlecc payment of interest at surh ratr would he contr~rv apphcable law, in which event ~~ich am~unt< <hall hear intertct at the highest rate permissible under applicable law. N~~thing «~n~ainr~i ~n ih~a paraRraph 7~hall rcquire I rndcr to incur any expenu or take any action hereunder. 8. laspecfion. 1 enJer ma~• ma1.c ~~r . a~~.c 1~~ Fx• m:~dr re~.onablr emrie~ upon and inspechonc af the Property. provided that I.enJer shall g~ve Rurn.wrr nu~~.r pri~~r :my ,uch ~mpect~un cpecify~ng reasunable caux Ihercfo~ related to I.ender's interest in Ihe Prope?ty. 9. CondemnaHon. The pnxcedc of any award or claim for damages. dircet or ccmuquential, in connection with any condemnatian or other IakinR of ihe Property. ~~r pan ti?errnf, or for conveyance in licu of condemnation, arc hereby assi6ned and shall !+e paid to I.ender. ' ~ In IAe even! of a total taking of Ihe Properry, the prcxeeds ~hall t+e applied ~o the cums secured by tfiis Mortaage. with the ezcess, if any, paid to Barr~•wer. In thc evcnt of a pa~tial taking oF 1he Property, unless Borrower and Lender otherwise agrce in writing. there shall he applied tc. ~he ~umc securcd by thic Mortgage such pmpohion ot the proceeds as is equal to that propotlion w•hich ~he am~~un~ ihe sum< <erured by this Mortga~e immcdiately p~ior lo the date of taking txar~ to Ihe fair markct val~lc of thc Pn~~x•rn ~mmcdiately priix to the Jate of raking. wilh ~he halartce of the ptoceeds paid to Bor~ower. lf the Property ia ahand~~~ed M B~~rr~..+rr. rr ~f af~er nc.ticc hv l ender m R~m~wer that thc condemnor ofters to mate an award or settle a claim (~r d:~m;~~c~. H~+rr~+W~•r f:~~l. rr~pc.nd tn 1 ender v?•ithin ~0 days afte~ the date such notice is mailed. I.rnJer i~ 1UtF1(~f17C(~ 10 c~llr:t and :~~?pl~• ihe pmceedc. at I.ender'c c~~+tion, eithe~ to restoration or rspair of the Propcrty or 1~~ thc ~um~ .rcurcd h~ ihi~ '11~~rig.~~i Unles~ 1 ender and BorroWrr otherwi.r agrrr ~n Hrihne. any ~urh appliratii~n c.f proceeds b principal shall not extend or Ex~ctpone the dur date cd thr monthh• inct.~llmentc refe~rrd tc~ in paragraph~ 1 and 2 hercof or change the amount of such installmentc. 10. Bonower Nof Released. Extension of ~he ~ime for payment or modification of amortiT~tion ot the cums securcd by this Mortgage granted hq 1 enJer M any auccecwr in inirrrct of A~rrower ~hall not operate to releau. in any manner. the liahility of the ori¢inal Borrower and &~rrower'. surcescora in interest 1_endcr shall not tx tequired to commence pn~ceedings against ~uch sucressor or refuce to erten~ time f~r payment or othervaice m<xiif}• amorlizat~on of thr .~~ms cerured by 1hi. Mortgage hy reacon of any demand madr by Ihe orieinal Borr~~wer and B~,rrnw•er's successors in inlere~t. ' 11. Forbearance by I.ender NM a Waiver. An~• (~~rhearanrc b~ l cnder in eterc~~ing any right or remedy herctmder, or ~therwise afiorded hy applicable law. shall n~t be a waiver o( c.r preclude tht exercise af any such right ot remedy. The procurement ~f insurance or lhe payment of taxe~ ~r ~ther liens or chargec by Lender ~hall not Fx a waiver of I_ender's reght tc. accelerate the maturity of the indeMednecs eecured h~• Ihic MortFaRe 12. Remedies Cumul~Hre. All remediec pm~•ided in thic MortRage arc dictinct and cumulative to any olher right or remeJy imder this Mortgage ar afiorded hy law or ey~iuy. and may be eierc~crd rnncurrently, indepe~dently or succe~sively. ~ 13. Successors and Assi~nc Bound; .loint and Se~enl Liability; Captbns. The rnveoams and agreements herein ' contained shall hind, ~nd the riRhtc hereunder shall inure to. the rcepechve succeticosc and astigns of Lender ~d Borrower. ! subject to the pmvi~ionc of paragraph 17 hcreoC All covenanls and aRreement~ of Borrower shall tx joiry and uveral. The captions and headingc of the paraeraphc of thic M~rtgage are f~r convenirnce only and arc not to be uctd to ~nterpret or dtfine the provi~ion~ here~f. 14. Nolice. Except for any nohce rcyuired unJer :~pplicable law to be given in another manner. (a) any notice to Borrower provided for in thic Mortgaee ~hall he g~vrn h}~ ma~lin~ tuch notice by rertifitd mail addre~ced to Borrower at ~he Property AJdress or at such other addrec, as B~~rmwer mav detignate b}~ n~~~ice to I ender as provided herein, and (hl any notice to 1_ender shall he Riven h>• certifieJ m:uL return rece~pt requected. m l ender's addreis stated herein or to cuch other addresc as l.ender may de~i¢natc h~ rnai;c tu B~•rmwcr as pmvided hercin. Any notice pmvided for in this M~rtgage shall be deemed to havC 1?CCn Fi~en to R~~rn~.+rr ~~r Lrnder uhcn g~~•en in ~he manner de~ignated herein. IS. Unitorm MortRa~e: Governin~ I.aw; St+erabilih. Thic (~rm o( mortgage comhines uniform covenaNs for national E use and non-uniform ccnenani~ with limite~l var~aUUn~ h~ ~untid~ction to constrtutt a uni(arm securiry instrument covering rcal property. Thic Mortgage shall be govcrned h~• the la~ ~•f the junsdicti~n in which the Property ic locafed. in the ; event that any provisiun ~r clautie of 1h~~ M~~rtga~c ~v ~he \t~~e r~nflictc w•ith applicable law, such conflict shall not afftet ~ other prov~sionc of Ihic M~ngage ur Ihe N~~~r whnh ..,n he g~ven efTect uirhout Ihe conflic~ing provi~ion, and to this € end the provisions ~f ~he Mc~rtgage and ~he \~~te erc ~Irrl.~red t~. he ceverable. E 16. Dorror.er's Copy. Bormwer tihall h. furn~.he.i a c~~ntnrmed cup}~ a( the Note and of thic Mortgage at the time ~ of executian or aNer recorda~ion here~f. ~ 17. Trans(er of the Property; Acwmp~ion. If alI nr am part of the Pn~peny or an ~nterest therein ic sold or trancferred & by Borrower without I.ender's pn~r wnn~n ~~~n~ent r~cluding la? thr crration of a hen or encumbrance tut~ordmate to ~ thit Mortgage. (h? the crean~n c.f ~ur.h.~.c m~~ne~ ~ciunt~ interest f~r houxhold appliances, (cl a tran~(er M• dtviu. ~ deuent or hV ~~peration e~f law upon ~hc Jcath i~~~nt tcnant ~.r (:1+ Ihe gram o( am Icasehnld interest ~f threc ycart or less ~ not contain~ng an option tc? purchase. 1 ender ma~. 1 rnder'. opti~n_ declare all the sums secured by this Mortgage to bt ~mmediatelv due and paqahle ( ender shall h,~.c ~.~~~rJ ~nnc ~.pt~on tn .+..rlrrate ~f. prior to the cale or Iransfer. Lender ~ and Ihe ptru~n t~ whom the Propen~~ i~~ hr .~~IJ ~~r ~ransferred reach ~grc~mem m wnting that tht credh ~uch perco~ ~ ic satislactorv ~o i ender and tha? thc ~nirrr.t pa~.~hle ~,n the sums terured by thi~ Mongage shall bt at such rate ac I.ender shall requesl. If t ender has waived thr o~u.~n t~~ acceler,~e pmvided in ~his paragraph 17, and if Borrower'> >uceessor in mterest hac executed a wntten astumpnon agreemcn~ accepted in writ~ng hy LenJer. Lender shall releace Borrowcr trom al) obligaUOns unJer Ihic Mortgage and the tiott. ~ lf I.endtr exercices such opt~~n 1~~ ac:rterate. Lcnder ~hall mail Borrower notict of aecelerauon in accordanc~ ~~~~h paragraph 14 hereof Such nonce ~hall prav~de ~ pen~~J of not les+ than 10 days trom the date tht notice is mailed within ~ which Borrower may pay 1he sumc derlareJ due I( Borrower (ail~ to pay such sums prior to the expiraUOn af wch penod. ~ Lender may, w~thuut further not~cc ~r dcmand ~~n liorroKer. ~nvoke any rcmcdies permrt~ed by paragraph IR hc~cof. ~ NON-UNIFORM CO~'E~~NTS Borrowcr and Lender furthtr covenanl and agret as follows: 18. Acctleral'an; Remedies. E:cept as pro~ided in pa~raph 17 hereof. upoa sorrowers Meacl~ o( aay coveaael or ~ agrcemcot of Borrower in Ihis MortRaRe. indudir~ the co.eomts lo p~y when due ~nr sums sec~red Sr this MortR~e, i.ender prbr lo accekratbn shall mail notice to ~orro..er as provWed !n para~npb 14 hereot specffyio~: (1) the bteach: 121 1he actbn ~ requlrod to cure such bnsch; (3) a date. not Icss than 30 days trom the ddc the notice Ls mailed Io dorro~+er. br .?Aich sncM ~ D~esch must be cnred: and (4) Ihst tailurc to cure such brescb on or before tbe dNe specf6ed in Ihe notke m~y resulf i~ ~ sccekratan ot t6e sums secured Dy this MortRaRe. /onclown by juAicid proceedin~ and sak o/ 1Ae Properry. The notke ~ shall turthe~ intorm Borrower of Ihe riRht !o reinshte aite~ accekntion and tht ri~M to asseA ia the toreclosure proceedi~ ~ Iht non-existenct ot a detsuN or sny dher defencc of Bor?ovre? to ~cceleration snd torec{osute. It Iht Srt~ch is not cnred o~ ~Y or betore the d~te speci6ed in the notice, Lender ~t I cnder's optioe~ m~y dtclare ap o/ the soms stctired by tAis MortRaRt to be immediately due snd psyable without tuNher dem:,nd ~nd mav foreclose thb MortRa~e by judltld pr+otetdin~. I.~nder chdl ~ be enNded to collect in such proceedinR all e:pences nf (oreclosurc, includint. Du1 not Iimiled to. reasonsbk sll~~rncy's fees. snd costs of documenlary evidence, abstraclc ~nd Ii11e reporls. 19. dorrower's Ri6ht to Reinstatt. tiolw~Ih~~.~nJ~n~ I ender's accelerati~~n o? the sum~ ucured by th~s Mortgage. ~ Borrower shall have Ihe nght a, have am ~?fMC<<I~n~. tk'~~~n h~ Lendtr t~ cn(~ric thi+ Mortgaqe d~trnn~inucd a~ an} timt ~ ~ 807K ~ t~ PAGE ~8 ~ 5~ ~ ~ . ~ ~ . - - . ~ ' - - W ~ z - -2^' ~