HomeMy WebLinkAbout0966 Ler?~t"a w~ittw apeereot ct appiicabb law. Borrawer sF~al1 p~r tAe aa+cwr+t ~'':~~l~~~iYu~~~t~niuant in t6~
~r Pro~reded uoder p~ra~rapi~ 2 het~eo[.
A~tp ~oou~Ma dNbu~sed by Lendet punwnt to thit pananph 7, with inteta~t thereon. ~ beoome sdditiona!
iadeb~ednat ot Bo~t~n.rer ~ecuned by this Mortp~e. Unlns Sorrower and LenJer asroe to other tertss ot p~yment, such
amonMs d~all be paysWe +ipon twtice from Lender ~o Bc?rrower requectin~t payment therecf. and shall bear K~ttoed tran the
d~e ot df~bu~s~eM at the nte pnyat~le from time to time on austa~din~ principal undet ti~e Nate ~kss payment of
i~Mer~t ai wch rale wauld be contrary to applicabk law, in wh~ch event such amounts shaN beu i~ N the hisl~at rate
Parm~ibk under appUcsbk law. Nothin~ contained in this pangraph T shall require I~ender to incur any acpen~e or talce
ae~? a~~tion h~dr.
MeeM. Lender map make or c~ase to be rnsde roawnabt~ entries ~~{+on a~d inspectians af Me Propertr. provided
~~at L+tndet sh~l pMe Earower notice prar to any u~ch inspection specifyina reawnabk cawe therefor rclated to L.s~dtr's
ialerq~t ie Me lmperty.
~ CMiearf~~ '1't+e proeeeds of any award or clain for damalea. dircrt or coax•qumtial. in coenec.~tfon w~ith ~:y
ooadanaation or utlxr takiag ot the Property. a P,n ~n~~~r. cx for ccx~veyance in lieu o! coodem~stioe. are hereby assi~aed
and dall be p~id b l,l~r. •
In 1lre eveM of a total takina of the Propeny. the proceeds sha)I be applied t~ the sums secured by this Mortaage.
wkh tbe pcoess, if a~ry paid to Bon~wer_ Io the event of a partial takin~ of the Propertv tmhn Hono++~er and I.ender
otlx~wise a~t+ee e~ ~vritin~t, there shall be applied Io thr sums secured by this Mc+rtga~er su~~h praportion of the peoaeds
~a~ is equal to thai propation which the amoun~ of the sums secured by this Martgalee irnmodiatdp pric+~ io the date af
t~kia~ 6ears to tite fair nwrket valuc of thc propcrty immediatety prior to thr ciate of takins, wilh the balance of the pmceeds
paid to 8orro~rer. -
If tbc Property is sbandoned by Bc~rrower. or if. afttr~noticp hryi Lender to Bo_,rro~thd the.poedemiar o~f~ to mate
•n awar~ or settle a claim fot damages, Borrower fails to respond to Lender within 30 days aker tl~e date wch notice is
maikd. Lender is authorized to colkct and apply the proceeds. at Lender's option. either to resto~tion or repair of the
Prope~ty or to the wms xcured by this Mortitalte.
Unless i.e~der and BorrowYr otherwice agrce in writin~_ any such applica~ion nf pracecds to principa! shail not exta~d
or postpo~e the due date of the monthly installmcnts rcferrcd to in paragraphc 1 and 2 hereoF or chanae tht amount of ~
such it~stallmeats. ~
1~. M~r~wer Net Reiea~ea. E~tension of ~he time for pavment or mcdification of amortintion of the sums secured
bf this Mrnt~a~c 6ranted by i~nder to am cucres~nr in intcrcst of Bnrrrnver shall not operate to rekase. in any man~er.
the liability of ~e original Borcower and Borrower's succtsse~rs in intercst. Lender shafl nM be royuirod to oomme~cG
prooxdinas s~ainst such wccessor or refuse to exten~ time for payment or othenvice madify artwrtization of the sums ,
secured 1ry this Mort~aae by reasoo of any demand madc by the original Borrower and &?rrowe~'s si~ors in interest.
11• I~er~eara~ee y I.esaer NM s Wslver. Any forhearance by Lender in exercising any right ar rrmedy he~etmder, or
_ othtrwise afforded by applical~le law, shali ncu he a waiver of .or preclude the exercise of any wch right or remedy.
'1'irc p~ocurernent of insvance or the payment nf taxes or other liens or charges by Lender shap not he a waiver of Lender's
ri~h[ to scceknte the maturity of the indebtedness srrurcd hy ~'~is Mortgage.
l2. Bea~eies Cwwvati~t. All rcmediec pmvided in this MongaKe arc dist~nct and cumtdative to any cuher right ot
nea~tdy undu this A[ortgage or aAorded by lax• or equity. and may he exercised ccx~currrntty..indtptndet~tl) or suecessively.
13. S~eep~s awd Assi~~s sornd; Jaat ~nd Several Liability; Csotbas. The rnvcnants and agrcements herein
cont~ned shaTl bind and the rights hercunder shall im~re to. the rcspective succesu?rs and assigns ot Crnder and Bomower.
subject to the provisions of psraaraph 17 hereot_ All coven~nts and agrcements of 8.xrc~wer shall be jaint ind several.
• The aptions and headingc of the par~gnphs of thi~ Mor~gage are . for re?nvenitr.re only and ar+e nc~t to be «sed to
interprct or deb~e the provisions hereaf.
11. Noffee. Fa~rea for any notice rcquirrd under appncahle law to be given in anMher manner. fa) any notict to
Borrow~er provided for ~n this Mortga¢e shall be ~i~~en by mailing such notice by cenified mail addressed to Borrower at
the Property A~irtss ar at such othe~r address as. Bormwer may designa~e by notice to Lt~ider u pravided hercin, aad
' (b) aoy~notir. to l.ettekr shal) be~~g\r2n'by certified m~iL ~eturn receipt requested. to Lende~s address stated hertin or to
- weh other address uYLender may designate by antice tu Bnrr.,vwr as provided hercin. Any nWice pmvide~ for in this
Moriaaae shall bt deemed to have been given to Bc?rroMrr or Lender when given in the ma~rser designatod hercin.
1S. W[on~ Meef~e; Gwern~w~ Lsr.; Sr~eraM7ity. This f~rm of mongage coml»nes ~miform ccwenants for national
u~e at~d non-uniform covenants with IimiteJ varialion~ hy jurisdiction to constitute a uniform security insirument ec+vering
ttal property. .This Mortga~ shall b~,governed by t~n law of ihe jurixliction in which the Property is located. in the
event that any provision or clause of this Mongaee or th~ No!e conflicts with applicabk law, such conflict shall ~ot affect
other provisio~s of this Mortgage or thc ticxr ~hirh otn bc givch etTecl w`ithotrt~th~ eonflictinE provicion, and to this
asd the prov~ of the Mortgage and the Nott. are declared,to he 3everable_
If~. >on~wers Cer~. Bor~ower shall tx furq+sheel a cnnformed copy oF the Note and of this Mortgage at the timz:
c+f execution or after roco~~tSoo hereaf.
17. 'h~fer ot fre h~o~erty; Aswmptioa. Tf all or any part of thc Praperty or an intercsi thercin is sold or transferred
by Borrower without Lender's prior written cnncent. excluding (~l the cieation of a~ien or a~cumbnnce suhordinate to
:his Moriga~pe. (b) the creation of a purchase money.security interest f~r lu~usehold appliances. (c) a trarmfer !+y devi,e,
descebt or by uperation of law upon the death of a joint ttnant or (A? the grant of any kaschold intercst of threc ycars or !~s
not caetainins an option to purrhue. Lender may, at Lender'S optiiu~. declart all Ihe wms xcured b~r this Mortgage to be '
immediately due and payaWe. L.ender shall have waived such opeion to accekrate if pric?r_to the sak or transfer. Lendtr
and the person to whom th~ Property is to be sold ar transferred rcach agre-ment in writing tha: the crcdit of such person
is satisfactory to Ltsder and that the intcrest payable on the sums secured hy thic Mortaage sltall be at wch ratt u Lendsr
sAall requesi. if I~~der has w~aivod the option to accelerete provid~c! in this ~saragnph 17, anti if Borrower's suecessor in
inte~es! has executed a arrittrn ~ssumption agreement accepted in w-riting by `enJer. Lrn~der shatl rekzce Bc~rrower from all
obligations under this 11~tartgage and the Nc~te.
if Lenekr extrcises wch option ia accelerate. Lender shatl m3ii Borrower naice of accekraticx~ in accordance with
puaaraph 14 heteof. Such nWiee shall provide a period oF not less than 30 days frcnn the date the notice is maiiod within
which Borrower may pay the sums declared due. if Borrower fails io pay such uims prior to che exQiratiex~ of sueh ipetiod.
Lend~ m.ey, wi~hout fiMiecr nolice or demand on Borri~wer. invoke any remtdies permittt~E !w Uaraeranh 18 hr_~.
No~t-UrttFOrtut Covexs:vrs. Borrower aed l.ender further covenant ~nd agreo as fdla~s:
1~. Aeede~stio~ Rea~edis.s. Fa~ctpt ~ provided iR para~rs~ph i'f hereot. rpoe fornorwe~s ~escl+ of aay co~saa~t or
aptes~ewt et ~rtew~s 's i1~is 1liort~s~e. i~rclnd~~ thc cos•enants ta pa~~ w hc» doc sry srws seesrei by fNs Mo~age, Le~Ber
lrior Io sc~rdees~ si~~ w~ ~otice ta dorrowe~ as pmvidcd in WrsRrapb 14 berent specffyi~ I1? tre wesclK f~ tie setiew
~e~lr~ei h c~are s~ ~rrseb; (3) a thte. not kss than 30 days from fhe date tbe wMice i~ saikd to ~r~ver, bp wA{t~ wid~
, ~.rt re c~; ~ N> mu ra~¦n ~o sa~k u~esca on or reron e~e aae~ ~ ~e .o~ce re~k is
aceelerade..t ~e s~.¦~s secr~ree ey n~k Mwt~~e, roreclown bv j~~eial proceedi~t aea s~ie ef e~e rrs~e+ri~. fr~e s~.-s
s~ai! ~er i~forw ~rra~er d t~c riRSt to rsiestste sfter accekratios aad ftic rifit to a~e~t i~ ~e fo~eele~w~e ~ercts~¦~
iie wa-~l~ce ~t~ Jefarlt ar ah otber defeeme of EorroKer to accelera~kiou s~i fo~etM+~ant. I[ 6e 6~sac~ 4 dot e~+ei M
~r id~e ~e ide q~eejied i tk wetice, Le~dcr't i.tn~er's optioe u~a~ dec~ive dt of A~e sws seded i~r tli~ Mee~ ts ie
~ i~ae~i~Gd~ iie rd pr~e ~ril~st ~wtier deiaasd aod ~ torie~ose thk M+r!la~e k! j~iiei~i I.esier i~i
ie erMei 1~ a-ieet i s~ ~ a/ espe~ses of toreciossrc, ~a~, 6~t eaf ~ailei 1s, rerowiie slMnr~'1t 1~ees.
ari eNit ~f ~ s~fiaxe, a~tncl~ aai lide re~rerls.
1!. ~r~w~e's Ri~it i~e Sel~tate. Notwiths~anding Len~kr's acceleration ot the saoas socu~d by this Irtw~tja;e,
Borro~rer siatl ~av~c t6e ris6t to bave any proceedings begun by Lender to enforce thir Matp~e dsooetinoed u aap Wee
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