HomeMy WebLinkAbout0926 ` { ` ' , ; w
. I.emd~'~ writ~ a~p+eroieat a~piicabis law. Barower tl~ll p~r ai dl~~b~a bw~snoe p:+miua~s in tM
msa~net ptovjded under p~n~p~ 2 A~+aat. -
/?ny amouau ~bunba bp La~de~ punuanl to thi~ pahgapi~ witl~ ietarat thereoa; ~11 beoon~s ~dditionsl
in~btedaea ~ 6orwwe~ ~curad bp thh Mort~e. U~ 8orrowrn aAd t.andex ~a to atber te~p~ of psYmaM, wcA
amouMs ~hap 6e pap~bls upoei notioe tran Lendet to Bocrowa~ reque+din~ piYmant tl?aceof. and shall bcar inta~t ft~oat the
dale of d~bu~n~eat et ths rara p~yable froan thne t~ time ae~ aut~ta~ pr~ncip~t under t6e Noet u~la~ pe7ment ~
iata+at at a~ rabe wwild be oontrary to spplicabie hw. ia whicb arq~t ~t~ch aanow~a ~A ixsr inter+e~t at the hi~ ratie
pa~mi~k uade~ appticable i~w. 1~ioth~ coauiad ia tliM pst~s~ 7 sl~q~t! roq~e l.at~der W inau aay a~p~e o~ hloe
~ aa0? actioo hee~a~ada: = - .
~clio~~. L~nder tnay make or cawe to be msde res~abie a~tries upon an~ in~ectiona ot tl~s Ptope~ty, provided
that ~as ~h~li *iva Boit+oa?ar notioe prior to anY wci~ inapection ~eatYit~t r~so~We cswe, tberofor related to Le~ader's
interat in the Propaty. • '
CaM~~~ofMw. The proooeds ot ury ~w~u+~ or clsim ior d~?ma~a. direc~t or oo~ueqneatial. in coneecdon with aay
ooedemoation or odier takinj of the Property~ or psrt ttKreof, or for ooaveyu~oe iA lieu of ca~damnation, are he~+eb~Y as~oed
.na shd~ be paia ta L~der. : ~
In ihe eneat ot • total talci~; of the Property. ti~e proceedt sl~aif ba appiied to the sume-aec~rai by this M~aae.
with the exa~. it ~ny. p~id to Bort+ow~e~. In the eMe~t of a parttal akiag of the Pnoperty, unlesa Bo~rowet and Landar
otherwae agree ~a. arriti~. then shall be ap~lied to tira s~non~ x~red by this Mo~~ strch prnpoctiom of the prooeed:
as ia equal to that pmportio~ which the amonnt of the sums aecurod by this Mortgage immediately prior to the date o[
takiq~ bars to the f~r muket vdu~ of the P~apectY ~mmediatel~r pria eo th~ dat~ of taici~, witlt. tba b~lanc~ of d~e proceah
p~W to Hortow~er. , ~
If the PwpeMy b ab~ndoncd by Homower, or if. aftw notia byr Lcr.der to Bonnwer that the oond~mnor otFea to maloe
an awud or settle a claim for damages, Borrawer fails to rapoad to Lender. within 30 daya aher tbe date ~uch notioe is
mailed, Lender is authorized to odlect ard apply the prooeeds. at iaadcc's optioa, eiMer to r~oratio~ ot rEpair ot the .
Proparty or to the wms secured by tha Mortgage. ~
Unlas i.endar and Bomuwer~otherwise sgroe in writing, any such application of prooeeds to prinetpAt shalt qot e~ctaid
or postpone .the dne date of the eqonthly imtalh~ta~tt nferred to in parasraphs 1 and 2 hereof ot chaoge the amount of ,
such inatallmeota. .
1~. ~oerower Nat Re1a~e~1. Extenaion of tbe time fbr p~yment or modfAcstion of amortization of tha sums saared
by tfiis l~iortgage ;sraatai by Lender to any suooessor in interest of Bomower ahall not openue to rekate. i~ sny man~a.
the liability of the. original Bon~owef ~d Bos~wer's suaeuors in ~nte~est.. Lendar sfiait not be royuirad to oomm~eaoe
Prooeedings against sucb suocessor or ref~e to eacta~d time for pa~nt or-otherwise ~qtodtt~? amonization of tl~e auns .
securod by this Mort~a~a. by reason of any demand m~e by the origind Horrowes and Horro~w~er's suec~sors in iMerest.
- it. Foe~e ~r I.eoier Not a Wairea Any forbeaneoe by LendEr in exercuing aay right or remedy herwnder, or
otherwise afforded by applicabk law, shall aot be a waiver of or precivde tl?e exarc~e of anq such rigbt or r~medy.
'17rc procurcment of iraunnce or the p~yment of.tues or other lieos o~ charges by I.cnde~ shall ~ot be a waiver of Leader's
tlghf to aooekrate the msturity of the indebtedness secut+ed 6y this Mortgage. .
12. Re~sedies L'~ts. Ail rarxdies provided in ihis Mort~e At+e distinct aad cumuladve to any other right or
- nmedy under this Mortgage.or a~orded by lAw or oquity, ~u?d msy be exercised ooncurnntiy, independently or :uooessively.
13. Swcca~ors a~d Aai~as. ~~i: JotM ~d &reral i3~; Capda~. 'ilu. oovecwnb and agroennet?ts he~in
oontained ahall bind. and the rights her+eunder shail inurc to. the respoctiye suooessors and assigra of Lender and Bomower,
aubjeet to t,he provisions of paragraph 19 hereof. Atl oovenanta and .agroements of Borrower shall be ja~t and aeveral. -
Tbe captio~ and l~eadings of the paragcaphs of thts Mortgage are for oonvea+encx anlp and sre ~ not 'to" be iued to ~
interpret or deMa the proviaioas bereof. . ~ .
1~. Notice. Bxoept for any notice roquired under applicable ~law to be given in another manner. (a) any notioa to
Boaower provided for in this Mortgage shall be given bx maiiina such notioe by certi&d mw'1 addre,ssed to Borrawer u
the _ Pmperty Addres~ or at such other addrcss ' a's Borrower may d~signate hy r~otioe to i.ender ss provided herein~ and
(b) any notioe to Leader shafl be given by cxrti&d mail. return rceeipt requested, to Lende~'s address stated herein or to
such other addrcss as Ixndcr may designate by notia to Borra~ver as proveded herein. Any notia provided for in th& :
Mortsage ~h~ll be deaned to have been giv~n to Borrowar or t_end~r whan $iven in the mt~nper d~signated.herein.
IS. Uaifors M~r. Go~u~.Lsw; Se.er~ity. This foren of moctgage combines unifosm covenants for national
use ~d i~on-uniform covenants with lunited variations by jurisdiction to. ~onstitute ~ uqifom~ security inatrument oovering
ral property. 'il~is Mortg:ge ~all be govemed by the law of the jurisdiction in whish the Property is located. In the
everit that any prov~ion or clause af t{~is Mortgage or the Note conflicts with applicabk 1aw. ;uch c~onflict shall Rot affoct
other provisions of this Mortgag~ oi the Note which can be given effect without the conflicring •pmvisioe. and to this -
end the provisions of {he Mortgage and the Note are declarcd to be severabk.~
lf. sorrower's Capy. Borrower ahail be furnished a oonformed copy of the Note and of this Mortgage at the time
. of exceution or after ncordation her~of.
1~, 1~a~ter of tre rro~e~ty; A~soo~ptto~. If all or any part of the Property oc an intereat thecein is aold or tr~nsferred
by Borrower without Lender'a~ prior written coosent, ezcluding (a) the creation of a lien ~ encumbnncx subordinate to
, this Mortgaae. (b) the crea~io~ of a purchaae mon~y security interat for household appliances. (c) a transfer by deviae,
dacent or by operation of law upon the death of a joint tenac~t or (d? the grant of airy ka9ehold 'iMerat of thra years or less
not ooMaining an opEion w purch~e. Lender may, at i.ender's option. declan all the sums aecu~cd by this Mortgage to be -
immcdiatdy due aad payable. Lender shdl have waived such option to :acxkrste if, Qriot to the sak or transfer, Lenda
~ ~nd ttre person to whom the Propeny is to be sotd or transferned reach agrcement in writing that the crodit of such person
is satisfactory to I~ender and that the intercst payabk on the :um.s :ocured by this Mortaaae sha11 be ai such nte as Lenaer ~
shall roq~eat. IE I.a~der has waivod tbe option to sooekrate provided in this pangraph l7, and if Barrowec's sucoessor in
• intercst has executal a written auumption agreemeat socepted in writing by I:enckr, Leoder shail-nkase Borrower from all
oWigatiau under th"ss Mortgage and the Note. ~ -
Jt i.ender ex~ s~ch option to cceekrate, Lendec shal! mail Borrower ndic~ of aaxferation in aceordance with
Pa~B~Ph 14 hereof. Sncb notice shaU prorick a period of not leu than 30 daya frnm the date the notke is matled within
which Horrower may pay the suma doclued due. 1f Borrower tauls to pay wch su~ prior to the expintion of snch period,
Lender may. without furthes notice or danand on•8orro~wer, involce sny remaliee permitted by peragraph 18 hereof.
Nox-UrnFORx Ca~B~~ra. Borc~o~ver and [.ender futiher oovenant and ~gree as fdlows:
la. Accdaatlo~ R~edM~. B:ce~t as p+orMed b~e~i~ 17 bei+eot. t~ Dan+owers Mrsei d~ co~eo~t K-
a~r+eese~R ot ~oee~o~a ia tNs M~e, ~ rie ooi~e~ls to ~a~r wties ~e aq w~s ~encd by ~is Mo~, Le~ier
~rlor !o accdasdo~ iai ~ai ~olies tia Sort~wrer at *totWeii ia Mra~rapi~ 14 ~a+evt s~edt~i~s (i) M+atYi ttie aefio~
reMii+~d 1a e~re swei 6reaei~ a dMe, aot l~ ~as ~~q~s traa tie d~e tre ~otlce ts ¦uiiiei M~, b wik! sacti
6racY s~t bs e~ne~ sN N? ~t hp~ee aw~t isci rre~ci oN ~r 6et~rs tie iw ~edMi i~ die rolioe e~t b
~aceie~Oa ~t tYa ~a~s Mc~rei 6~ tM~ 1?'Iorl~aE~. ~ M~!i'~t a¦i de ot t~e lno~ir. 1Ue ~etioe
~II twi~er i~t~ona Da~re~an?~r et tf~e rt~1t to r~1e aHa actdaafio~ a~i !Me ri~t b ~wstt ii tLe Eo~ed~atre ~aae~
tie ~o~teace ot a 3e6alt or aq et~ delewe ot larower 1~ sadaatio~ a~i ia+~clow~ ff tl~s ireacM 4~ot ca~sa w
a~ 6eE~e d~s ialr q~eciYA i~ f!e ~otioe; I~eaiar st Le~ier'i o~tlo~ ~~el~ee ar 0E t1~s ~r ~ec~nei y? tW Mael~,~p 1~ 6e
M eafl~ei b~ollee~t f~
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poeeedi~~ ar ~~t leeeclow~ ieaii~, b~t aot ~i naroa~ie a~ea~s ts~es.
a~i ~or1t at aoo~r~ s~iieaee, ~Mteseir a~i W1e te~a~i. •
i!. Ior~wsi'r W~t ts ~ NonvitMtaodina Lender's acoeler~ af tbe sums sac~ued by tb~s Mortp~e.
Borrawa :ha11 have t6e ri~et w hsve any proceedin~c bepu+ b'Y L,a~der w eafaroe th~ Mort~a,e dacontinped at aay time
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