HomeMy WebLinkAbout0946 , ~ • .
Iwod~r"a w~rit~ a~a4eat vt a~~~ law. $o~rower ~haU ~qr tbe amount d~s~ort=ye i~wRaooe pcea~ent !a tbs -
mao4er provldsd wider puyrspb Z h~t~eaf. ~ •
M~? amounts disbuned by ~ pursuaat t~ thi~ para~api~ 7, with i4tet+at ~ 1;~t
indebtadtxa of Hottow+er ~ecwred by this.lbortts~e. Utdess Hormwar aad i.eader asrae ~d' , ~t -d ~
i~mouob ~11 be payabie u notioe fmm La~ to ~ir~we~ uestin ac tAe~eOf.~~~~li ba~ ~te~t trnm the
date ot dhbut+~ea~p~t ~t the nee pay~bb trom time to tims ~tan~
Pn~'nciPd under tha No1a uteka psytoant ot
inte~t u wch ra~e woul~ be oo~? to applicabk law. ie whkb ev~t auch aanoweb ~11 bear inta+eet at iha hishe~t nte
parnni~ble under spplicab~e b~?. Noth&tg oont~laed ia this pus=raph 9 dali require Lender to iacu~ ~~patys or hte
atry sctioa ~ .
~eeMM. Leader may make or eau~a to be made raa~o~bb entri~ss upoa aad in~ections ot tbe Propeity. p~~
that Lender diall jive Boa~ notioe prior to any such inspe~tioe specifp+ni namn~ble cau~ tharetor rdated ta I. a
interou in tha Pr~operty. ~
Ce~iew~~de~. The proceeds of any award or claim for damages, dineM or oonteqneaN~l. i~ coanectton with aay
ooode~nnaNoa or otber taki~ of_the Property. or ps~t thereof~ ~ fo* ooav~ayance ia lieu c~f oondcn~natioc~. ara henbY assi~ned -
and shall be ~+aid b Ltndec.
In tl~t eveat ot a totai hlcins of tha Property. the proceeds sha11 be applied to the waes ~ecurtd by this Mortta~e,
with .the ezoea, ig my. paid to Bor~+ower. Ia the eveet ot a partial taking of the Propecty. unless Borrower and Lender
otherwi~a aaree ~n writing. there ~11 be sppiied to tha u~ secured by this Mort~a8e wch Propo~tia+ of the prooeedt
as is equal to that propottjon which the amount oi the :ums sxural by this Mortgage immediatdy prior to tbe dste ot
takin~ beua to the fair market value of th~ Property immediately {~rior to the d~t~a qf takiq~, with.the bsl~aoe,o[ tbe proceeds
Paid to Bon~wcr. ~ . -
If tbe Praperty b abandoned by Bo~wer. or if; after notioe by Leade~ to Bormvrror that the oondemoor ot~s to malce
an awatd or settk a ciaim for dsmajes, Borrower fails to reapoad to i.e~ withie 30 days aha the date wch notece b
maikd. I.~nder ia autlwrinod to votlect ~?nd spply ihe prooeod:. at Le~'s optioa. eithe~ M restoratio~ or repiir ot ihe
Propeny or to the wms secured by this Mortgage. ~
Unless Let~der and Bormwer othenvix sgroe in writing. , au~ i~D~R ~ P~~ t4~pr+ncipal shall. not exta~d
ot postpane the due dste of tbe monthly ioatallments ~ferre~¢~O ~;q~~r~-,i_ a~d 2;Mrea~ oc'abange tbe amonnt of
sllCh i11~i~~fIlE11TS. ~ ?ty^3?'~i.i tfi•sl•,!` > ;ri;i.~L' r.~ (1ty(~.(
~ 10. ~oanowrer Not Relea~ei. Extension of the time for payn~ent or raodi8cation of aa~ortiution of the wa~s secund
by tfiis Mo~tg~e ~nted by Lenckr to any suco~ssor in interat of Borrower shail not operate to nleaie. in wy manner. .
the liability of the ar~ginal Borrower and Borrower's suocasaa in intereat. L~ender atall not be requircd to oommeaoa
proceedings a~ainst such suooeasor or retuse to extend tiwne fot payment or othervvise modtfy anwrtization of tha• wdu
secured by this Mortaage by rason of any demand made by the ortginat Borrovrar and Borroa?eP~ ~s in IMe~t.
ll. Ferbeacasee b~ Leoder Nd a Wtl~er. Any forbearance hy Ler~der in exercising any right or nmedy l~ereimder, or •
othenvise afforded by applicabk law. shall not be a waiver of or ~+eclude the exerci~e of any such riaht or nmedy.
The procurement of insnrana or the payment of taxes or oiher lieps or charges by Lender shal! iwt be a waiver of I.e~'s
rjght to aceekrate the maturity oE the indebtodness secuted b~y this Mortgage.
12. Re~edks Q~tl~a All ranedies provided_in thia Mortgage m_di{tinct aa~l cumulative ~ any other right or
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ranedy under fhis Mortga~e oT alEorded by law or equity. and may be exercised coocurneatly. indepeoda~Ny or suooessivcly.
13. ~ 3wccesors ~ Asripis ~s~ Joiat s~i Se~enl iL6~q~ Captiws. Tha covea:nb and a~eemeats heiran
oontained shall bind. and the,ri,ghts hereuader shali- inure to. the rapoctive suaxssors and ~assigns of I.ender aod Borrow~er,
sub~ect to~ tl~e~ provisiau of parsgraph 17 hereof. A11 oovenants and aareements of Bornow~er ~hall bc joint snd ~averal.
'Il~e pptions si~d headings of the Par.agraPhs of this Mortgage are for comenience oniy and ut not to be wed to
interpret or dtline the provisioru he~+eof.
14. Notice. Faccxpt for any notice required unde~ applicable law to be given in another manner. (a) any notioe to
Borrower pmvided for in'this Monga~e ahall, be given by mailing such notioe by verti&d ma~'t addre,ased to Borrower at
the Property Address or at such other addras as Borrower may designate by notice to Lender as provided herein, aad
(b) any notice to Lender ahall be given by certi&d mail. retum raeipt reque~ed, to Lender's address stated herein or W
such other xddr+ess as Lender may designate by notive to Borrow~er as pravided henin. Any notioe provided far in thia
Matg~e shall "be deaned to have tioa~ given to Borrower or Lender whea given In the manneF designated herein.
~ 1S. U~ifona Mo~r, Go~er~ Lww; Serera6~. This fomt of mortgage combina unifam covenants for national
use and non-uniform covtnants with limited variations by jurisdictiap to constitute ~ unifornn security instrument.covering
real property. -'fhis Mortgage ahall be gcwerned by the law of the jurisdictioo in which the Pmperty is located In the
event that any provision or clause of this Mortgage or the Note co~iicts with applicabk law. such con8ict shail not aHect ~
othcr provisions o~ this Mortgage or the, Note which can be given effcet without the confticting provision. aod to thn -
' end the provaions of the Mortgage and the Note are declarcd to be sarernbk.
li. ~er's Copr. Borruwer shall be furnished a confom~ed oopy of the Note and of this Mortgag~e xt the time
i of e~xution or aftar rocordatioa hereof. .
; 17. 'l~sdfer o[ ~ lro~pt9; Asanaplion, If all or aoy part of the Property or an interest thenin is wW or transfernd ~
~ by Borrower vyithout Lender's prior written coasent. excluding (a) the creation of a lien or t:acumbrance subordinate to -
k this Mortgage. (b) the creation of a punchase money security interat for household appliances, (c) a tnnsftr by devise,
E desoeat or by operation.of ~aw upon the death of a joint tenant or the gra~t of any kaaehoid interat of three years or less
~ not containing an option to purchate, Lender may, at Lender's option. declare all the sunu securad by this Mortgage to be ,
~ iromediately due and payabk. Leoder shall have waived such optian to aooekrate. if, prior to the sale or transfer, I.~ndar
~ and the person-to whom the Property is to be sold or transferned reach agreement ia writing that the credit of such person
~ is satisfactory to I,toder and that the iMerest payabk on the sums secured by this Mortgage shall be at such nte as Leeider
~ shall reqvest. If Lender has waived the option to accelerate prm?idal in this p~ragapi~ 17, and if Borroaer'a succ~or in
~ interat haa eacecueed a written aavmptian ~it acupted in writing by~ I.ender; I.eader shall release Bonower fmm all
obliQations under this Mort~e aod tho Note. '
~ If Lender exa~cises wch option to accekrate, Lender shall mail Borrawer notia of aocderation in aooordana with
psngnph 14 hareut. Such notioe s6all provide a period of not las than 30 days frotn the datc the notia is maiied withia
which Borno~rer maY paY the sums declared due. If Borrower fails to pay such sums grior w the eacpirafion of such paiod,
~ i.,ender auy; without further aeti~ or demand on •8orrower. invoice any remedies permitted by para=raph 18 hereof.
~ NoK•Ux~c~wc Cavex~xr~s. Harrower aad I.ender futther oov~aat u~d ap+ea ax tol{avs; -
~ li. . AceelenHo~ ReareilM. B:ce#t a~ pe~o~idei i~ ~ 17 rereot, ~lo~ /eet~owe~h M~escY ot ah a~au~t K
~ a~ea~t oE Menwss iie ~t M~efp~e, i~d6~ ttie ea~e~Ns to ~q ~rre~ ~e s~ npa~ see~rei i~ tli Morlsa~e, I.eaie~
~ Rior ~a ucelaaNo~ ia~ ~il ~Mks io ~ote~wer a~ ~nrWei ia ~ l1 aermut sred[~s (1) die be~ac~ tl~e acflo~
~ ~i is eMr~e wd~ iee~cl~ (3) a d~ ~ot ias ~ 3~ iqs frn~ !re i~te fbs oofke Y~aiki M~rrrwa~, iq wtikti wd
~ ~~od 6e e~re~ -a~i. da~t ia~rs i~ e~e wd~ ~ese~ or or id~e fie ia1E sMetlei Y tlie ~otits Mq e~ewit b
•ec+~raf~ ot lie swn ~ by ~Y Meet~a~e, ~or~clowre 67 ~cW Nreeei~ a~ de ot tie h~o~eat~r. 1tie ~tia
s~ i~l~er L~ locrrwrt d~e ri~t ~ r~wtalt dt~ aecdenMio~ s~d tl~t tl~t b aMe~t id A~e tse~edos~re ~e+aaeii~
~e ~eire~k~oe ~t s id~ilt ar aq ~dMr ide¦ie ot 1o~nwer ~a accdeeatba~ ni fineiaa~a ~ be tireae~ i~ot e~eai a
or M[eet ~e iMt ~etYei i~ li~e ~tle~, ~Leai~r M L~iM~ o*iio~ rh? ierhre M ot Il~s w~rt Mcwei ip ~is 1MM~e 1~ tie
i~eiitleb ie a~ ~qaYe ~rllro~t [~l6et iai¦ri ~i ~q tinelo~e IN~ Mai~p b}iieLl pre~e~¦~. [~e~ier ~1.
be di~ei b eeM~ct b wei p~oae~ a~ e~ews et ta~eclewrR i~clNi~ i~t Mt W~Wi te, reroril~ ~r~rys f~s.
atl eorit oE ioet~eaaey evli~ace, ai~eaeb a~t tWe ieprlr. - .
1!. ~oerew~t'i ~6t h 1teiMals. Notwit~ins I.andec's sccekration ot the wms ~ecured ~ by ihis Mortja~a,
Borco~va shatl bave tl~e ri~ to bave any Prooeedin8s be~n by Lseder a~for~ce t!~ Mortp~e di~continued at aap time
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