HomeMy WebLinkAbout2119 . 8. Inspection. l.i~n~irr ~uu~• u~:~k~• ur ~•atu,~~ tu 1~~• ina~l~~ r~•:~•c?n;~l,l~~ ~•ulrir: ii~~un ;~u~l ii~c~?ection; ot th~r Yro~~-
crtS', I?rot~icled tl?nt L~~n~i~r ,lu~ll ~;i~•~~ liurro~~•~~r nut't~•e ~n•iur tu :tu~• :u~~l~ ii~.~ic~~ii~~n ~~u•c~if~'i~~~; re:tsonal?lc~ eause
tlierttior related to I.endei•', ii~terr~t iu tl?r !'i•o}~ert.~~. -
9. Condemnaiion, '1'he i?rocr.e~ls c~f iln~~ u~~•;u~~l ur c•I:ii~u io~• ~tiuna~;e~, clicert ~n• corisei~t~entinl, iii conneetion
_ ~~~ith ~u~~~ con~iemnnt_ioi~ or other takiii~ o! the Yrol?~'rtti~, rn• ~~:u•t tl?~~rcof, or for ~~om•cyanc•r in lieu of condemna-
~ fion, nre hereh~• a~•i~;i~c~l an~l shall hc ~uiid t~ l.en~l~r.
In thc e~•~nt oi' :i tot~l takin~; of tli~ 1'r~~~~crt~~, tlu~ ~~ro~~~~ccl.•luill lu~ n~~~?lic~i to th~~ suiu~ •~~~~ur~l h~~ this \tort- ~
~;~ige, ~~~ith the exee.s, ii an~•, ~?ai~l ic~ I3arro~~•er. ln tlu~ a~•ent c~f ~uu•titil t,tkin~; of lhc 1'ro~u~~~t~~. unles~ Rorrower .
' :incl Lender otl~~rn•ise :Z~;rce in ~~•ritin~;, tl?crc~ sl?al) lu~ u~~~~lic~~l lu ih~~ ~inn~ se~~urc~l I?~• thi~ \tort~;a~;c such ~~ropor- .
tion of the praceeds izs is equnl to that, ~~rol~ortion ~~•hicl~ tli~ ,tmount ot tlie sum~ secure~l b~~ tl~is \lortgag~ inune-
_ ~iintely ~~riin• to tl?e ~lalc of tnkin~; be~r, tc~ tl~e f;iir nuuk~~t ~:ilu~~ c?i tli~~ 1'i~o~~crt~~ imn~~vlintel~• ~?rior ta the date of.
- tflking, ~vith t~he hnlrtnrc of thc pracec~l, ~~:~i~i to Rorl•o~~•er. '
If the 1'ro~~ert~' is ,~hand~ne~l h~~ I3c~rro~~~er ~,r iC ;~fter ~~~~ticc I,~• l.crude?• to };erro~~•cr tl~tzt the ca»de?u?~or uffer:
' to n~nke an .i~.ard ar settle a claim tor ~l~ur.~re:, 13orro~~•cr fail~ to rc~~~on~i to l.enrier ~i~ithin :30 ~in~~~ of the dnte
_ of such nufice, T.crnler is autl~arized to collect ;~n~l :i~~~?l~• ihc ~n•cx~ccd. .~t I.en~icr'~ oE?tion ~~ith~~r tc? restorntion or
repair oi the Propert~~ or to th~~ ~mi~s ~ecurc~l b}• tl~i~ \(ortga~;e~. ~
ti
ili~less T.ender anci ]iorro~ver other~~ isc ~~gree in ~vriting, a~i~~ such application of ~~rocecds to ~n•incipnl shall .
not extenci or ~~ostpo~te tlie ciue clnte o: the iuo»thl~~ iu.t;iliment: referre~l to ii~ ~,ur.igrni~lls l a;nd 2 hereof or
change the ain~ount of sucl~ inst~lln~ents.
10. Borrower Not Released. l~.xtcnsio~i of tlie time for ~~ai~~nent or ~n~clific.~tion of amortizaf.ion ~f t•he s~tnls
secured hy this ~iortgage grn~ited b~~ T.ender to iin~• ~ucccssor in iutcrc~t of Borro~~•er ~hnl) not o~~ernte to rele~se,
in .im• nuinncr, the linhilit~• of ihe ori~inal_Rorro~~•~~~• and Ror~•o~rei's succc~sor= in interest. I.ender shnll r~at be
required to commeiiee ~??•oceedings agninst ~ueh ~~icr.e~.~~r or rci~isc~ to extencl tin~e jor ~~nyme~it or other~vise madify
- :unortizntion of the sums sccured t~~~ this \Iortga~e h}• renson o; ;?m• ~Icmand ~uadc b~• thc ori~innl I3orron•er and
Borron•er's si?ccesso~s ii~ ;nterest. ° ~
11. Farbearance by Lender Not a Wcciver. :\m• forbenr,ince b~~ I.ender in esercisin~; an~~ right or remedy -
_ liereu~~der, oi• othei•n•ise .~ffoiYle~l 1~~• ,~~~plicnble I:~~~•, sh~ll nof I~e ;i ~~•si~~ci• oi or ~~reclu~ic tl?e exercise oi an~• right.
' or ren~ed~• 1?ercin~der. 'I'I~c ~n•ocurement oi'_in~urance or tlic ~?n~•me»t of taxes or oth~~r licns or charges by T.ender
' shall not be a~~•.ii~•er of 1.ender'~ right ta a~celer:~te the m~turif~• of tl~e indebtednes~ seci~red i>y this \iortgage.
12. Remedies Cumulative. :111 remedie~ ~~i-o«ele~l in thi~ \tortga~c ~re ~listinct .u~d cii~nulntivc to any other
: right ur re~mcci~• »n~ler fhi< ~Iort~nge o~• uRor~le~l h~• la~~- or ec~uih•. :~tul mati• lm cxereised eoncurrently, iiadepend- .
ent1~• or successi~~el~•. ~ -
13. Successors and Assigns Bound; Joint cmd Several Liability; Ccxptions. 'I'he ~o~•en:u~ts ~nd :~greements
. 1?erein ~•ontzinecl shnll hinci, cinci thc ri~ht:: hereii~ider ~I?all imu•e to, tlic res~~eeti~•e ~~~cce~sor~ au~l .issigns of Lender
;a~ci 13orro~~-~~i•, ~t~1,jeM ~o ihe ~~ra~•i~ion~ oi p.u-~,ra~~h 17 he~roi. .1U co~•en~u~tc :?u~i nnrecments of Iiorro~~•er shalt -
be joint and ~e~-ernl. 'l'he c,?~~tions sncl i~endi~ig~ of tlic ~?;u:1ru.,P.l~lI1~ oi thi~ \[ortg~t~~ :~re for com•enience onh•'and
:?re not to be itsed to int~~rpret or defiuc thc ~~ro~•ision~ hcrcoi. _
~ 14. Notice: :1nt~ notice to I3orro~~•rr pro~•ide~l fo?• iu thi~ ~Ir~riga~;r ~h.ill br Ti~•~n i~~~ roailin~; ~uch notice i~`•
- eertifie~l ~n;~il :ui~lre~:ed to Rorro~~•er at ~hc~ P;o~~ert~• :~~i~lrc~~~ ::t<?te~l helo~~•, c~~~e~~t for :in~• notice r~quir~~i i~ncier
? u~a ~ i~li 18 I~ereof to l?e t» ia Rorre~cer in thc~ iu,~m~~v ?rc~crihc~l 1?~• a i~licahlc ta~~-_ :1n~• notice ~rovide~l
I 1! 1
- tor in this \Iortgage ~h~ll he ~icc~n~ecl ta I~~ti~-c hren ~;i~•en to I3orro~~-c~~• ~~•iicn ~i~•en in tl?e n~anncr desi~nate~l herein.
15. Uniform Mortgage; Governing Law; Severabilify. '1'hi< iarn~ of niort~a~c ~•on~bine~ uuiforni co~•ei~nnt~
for national i~se and non-u~iiform co~~enants ~~-ith limite~l ~•arir~tion~ 1?~~ jm~is~licfion io constitute a uniform ~ecu-
rity instrunlent ro~~ering re~l ~~ropert~•. "I'his ~[ortnage ~hall he ~o~•erneci h~• the la~~- of the jiu•isdiction iu ~~hich
th~ Yro~~ert}~ i~ locatecl. Li thc c~•ent that .+n~• ~~ro~•ision or ~•lau~c oi thiG \Jortgngc or the \otc conflicts n~ith
~ applic~ble ls~r, such conflicf ~h~ll not .iRect other ~~ro~-i~ion~ ol thi~ ~iortga~c or thc \Tote «•l~ich can he git~en
et~'ect~ ~~~ithout the contlictiu~ i?ro~•ision. .u~d to ihis en~l thc ~~ro~-i~ion~ of~tl~c \(o:t~agc .~n~1 ihe \ote are declnred ~ -
to bc severable_ ~
r; 16. Borrower's Copy. I3orro~~-~r ~II:1~I IlC Ilil'lil~hc~i u~•onlor~iu~~i ~•op~- ot thi~ ~[ortgage ~t the time of execu-
tion or after recordstion iiereof. ~ ~ -
17. Transfer of the Property; Assumption. If ail or :un• ~~:~rt of tlic Propert~• or au intcresf, therein is sold
k~ or ti•ansferred 1,~~ Rorro`~•er «•itl~out~ ~,ernicr'~ prio~• ~~•ritten con~eni, excludin~ (:~l the cre~t_ion of a-lie~i or encum-
brance suhorclin~fc to thi~ \Iortga~;c. Ihi thc ~rcation ot ~nurha~c ~uo~ic~• ~ecurit~- intcrc~t for household appli- -
auce~, Irl a transier h~• ~le~•i~c. ~ic.~~~ent c~r hr ol~~•e:~tion o1 ia:~- u~~u» the ~ieatl~ oC a joint tencmt or (dl thc grant, of
- .~n}• ieas~holci i»t~~re~t u! threc }•ear: or le~~ »of e•ontaining an option tc~ ~nnrLase. I.ender n~a~•. :tt 1<ender's opt.ion,
~leclare all the suiu~ ~crurecl f,~• fil?is \Ior[~agc tc~ Lc immc~li:afcl~• ~tue :in~l »~~'ahle_ l.enclcr ~h:~U hzt~e n-ai~~ed such
option to arrclci:~tc if. ~~rior to thc ~~ilc~ c~r tr~n~icr. 1,rn~ic: a:ui Ih~ ~?er~on to ~chou~ ~iie Yroperf~• i~ fo be sold or
dransjcrrerl rexcl~ agreement in ~~~rifi»~ tliat thc rre~iif of ;uc•li ~x•r~un i~ ~ati.~f:ic•tort• to I.en~ler :~ncl thaf t;~c interest
~~a~-~hle ~n fhe siun• :c~~iu•e~l h~- thi~ \loi~t~.i~;e• ~ii:~ll h~• :~t ~n~~l~ rai~~ :i~ I.c~ii~lrr ~li;sll rc~~ue;t. Ii I.ender has ~rai~-e~l
ilie option tu :~~•~~~•lc~:~te ~~ro~•i:ic~l in tl~i= ~~.iragr.?1~i~ l7 a.~:: iC li~,rru~~-t~r', :u~•c~~.•or ~n inicr~~~t i~:?~ e~ect,tecl a~crit- -
~ tcu ~3c,iimj~tio~? ,igreeui~•nt a~•ec~~ic~l in ~~•riii~~r h~- l.~~mlci•. l.t~i?~iei- <luill r~lea~e I3on•o~~~c* froin all obligations under
~ ti~is \iortg~gc anrl thc `otc_ _ - . -
~ If I.encler exerci~es ~ucl~ aption te~ .icceler<~te. I.ender ;hail ~uail Rorro«•er notice of acceleration in accordanee
f'~ ~~-iti~ ~r.na~;ra~~li 14 I~eree?i. ~uc1i noticu ~i?:ill ~~ro~-i~le~ a ~~erio~i of not lc~~.~ tl~an 30 ~ia~•: fro~u the ~late the notiee i~
n~ailed ~~-i±hin «-liicli 13orro«•c~• uia~• 1>:~~' tlic ~un~: declsred ~lu~~. If I3orro~~`cr ft~i1~ to ~~a~~ ~ucl? ~uw~ prior fo the
~~~apiration ~~1 ~ueh ~~eriai. I.en~ier ~n.i~•. ~~-ithoirt furihrr n~~tirc~ o~ ~ten~cin~i on I3orro~~•er, invoke :~m• remedies per-
~nitted bti• l~aragraph 18 hereoi.
' \'u:~-t~\IFOH~i ('u~•r;~.~~~r;. I~~~rrc?~~:cr.u?cl I.encl~~r itn•th~~r ~~~?~-c~~~,ui! .u~cl ~i~t•ec a~ follo~~~s: ~
- 18. Acceleration; ~temedies. l~.~c•~y?t a~ ~?ro~-i~le~t in ~?:?rs~;ra~~l~ 17 liereol. ul~uu liorro~~•er'~ Ureaeh of am- -
co~•en:~nt Qr a~;rec~ment of I3orr<ncc~r in iLi~ ~to~•ttr.?re. ineli?~lin~; tli~ To~•enant~ to ~?a~- ~rhen ~lt?e an~' swns secured
~ bS- t}~is ~Iortg:~gc, I.endcr ~irior to accclcrati~?i~ ~liall ~u.?il noticc~ to Rorro~ccr :i~ liro~•i~lc~i in par~grnph 14 hcrcof
s}~ecif}•ing: 11 ? thc hrc.~ch; (2? tl~e :~ctiau rc~~uirrrl to cum ~ucl~ 1?r~~acl~; ~31 ~tatc. not le~, than thirtS* dati•s from
- the ~iatc thc: notiec i~ ~na~i(c~l t~ Borru«-cr. 1?~• ~chicli ~i~rli In•c~a~•li mu~t hc c»rc~l: aimi 14 i that fzilum to c~re sucl~
hrcach on or before thc ~iatc ~{~ecific~l ii? tllc noti~•r nr.i~- m~utt in ac!•cleration ut tlie ~un~~ : ecured i~~• this ~iortgage
an~l sale oi the Yro~mri~•. 1f thc brca~~li not ~•urcct on o~• hc•for~ thc ~lat~ :pccificd in the noticc, Lender at 1.ender'~ -
o~~tion ~ua~• ~lccl.tre ;iil of thc ,~nn. •ccu~•e~l h}~ t!?is_\lurt~;unc to b~ in»ne~iiatcl}• due and payable «•ikhout further .
: - den~and an~l m~~•~ foreclo~e tl~is \fort~;.i~;c~ I,}• jiulic~ial ~~rocec~lin~;. L~n~ler shal) be eietitled to collect in ~uch proceed-
ing all ex~~enses of foreclasiue, i~:cludin~;, hut uot li~uite~( tu, rea~onahlc~attorni~~°'~ iee~, and i~osts of docimlent~ry- ~
c~~idence, abstract~ and iitlc rc~~orts. -
_ - - - . ~ 8oox 239 ~a~f 2~.14 _
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