HomeMy WebLinkAbout0975 ,uccc,,,ur or refus~~ tu ~•xt~•n~) tim~• f~?r p~i~'m~•nt ur uth~~r~~~:,~~ n~udlf~' um~~rtizutiun ~~f th~~ ,um,
sc~riu•rd b~~ this ~Iurty;u~,•c~ b~• rE~usun uf .tn~• ~l~ muncl ma~le th~ urikinal Iiurru~~~er :in~1 liurru~~•e~'s .
suc•crssurs in intE~re,t.
10. Forbearance by Lender Not a Waiver. an~• fUt'Vt'iiCtlllrE t?~• L~n~ler in rxE,rci,ing ~in~• right
ur remedy hereuncler, or uther~vise affordE:d b~~ applicublc~ l~i~~~, sh~ill not 1,r a~~•ai~•er uf ur preclude
the e~erci,e of ~~n~~ ,uch ri};ht ur r~•me~l~•. The pr~,ciu•c~ment ~~f insurance or tl~e pa~~ment of ta~es
i,i• uthEi• tiens ur chai•~es b~~ Lend~~r shall not be x~r.~i~~er ut' Lcnder's ri~;ht tu accelerat~ tht~
maturit~• of thE: indebtedness sE~curE,d U~~ this \Iurt~~tkc.
11. Remedies Cumulative. All rc•me~lies pru~~i~led in thi, ~Iurt~;_?~;E ,u•e distinrt ~ind
cun~tilati~•e to ~iny i?thei• ri~;ht ui• rE:med~' UIl(~E'1' tI115 ~Ioi•tk~~e ur afforded b~• l~i~c ~,r E~~uitt•, ~inc1
~nx~' bE' E'Xt'1'C15f.'(~ concurrentl~•, inde~xndentl~~ ur succes~i~•el~•.
12. Successors and Assigns Bound: Joint and Several Liabilitv: Captions. The cu~~enants and
akreements herein contained shall Uind, and thc: ri~?hts hereunder sh~ill inure to, thr res}~cti~•e
successors ~tnd i1SS1~TI1S l)f Ll'll(IE'1' tlil(I B(11'1'U~\'E 1', subject to the pru~•isiuns uf p:ira~;rxph 16 hereof.
All co~~enants ~ind a~i•eement~ of Bori•ow•ri• shull be joint an~l ~everaL Tti~• ~•a~ptic,n~ and headings
of thr para~i~aphs of this Jlortgxge are for conrenience onlt~ und 2i1'l' not tu Le u~ed to interpi•et or
de~ne the pro~~isions hereuf.
13. Notice.Except for an~~ nutice reyuii•ed under ~ipplicable la«• tu be ki~~en in another
manner. (a) an~• notice to Borro~~~er pro~~ided for in this Jlortga~;e ,hxll be given mailin~ such
nutice b~• ce?•ti~ecl mail addi•e~sed to BUI'1'O\~'C'1' ~l~ tIl(' Pi•opei•t~• ~dcli•ess or ~it such othe?• addi•e~s
as Borru~~•er ma~~ de~i~nate b~• notice to I.ender xs provided herein, and (b? an~• nutice to Lender
shall be ~?i~~en b~• cez•ti~eci mxil, ?•eturn receipt reque~ted, to I,ender's address stated herein oi• to
such uther ~iddi•e,s as Lender ma~• de~ignate 1~~~ tiotice to Bo?•ro~~-er as provide~l hei•ein. An~~ notice
pru~~ided for in this 11ort~aKe shall l,e deemed to have been ~iven to Borrower or Lender when
~;iven in the manner designated herein.
14. Uniform Mortgage; Governing Law; Severability. This form of mortKage combines
uniforn~ co~~enants for nationxl use and non-uniform cu~~enants ~~~ith Ii2111LE'(~ ~•ariatiuns b~•
jurisdiction to constitute a uniform securit~• instrument ro~•ering rc>al propert~•. This JlortKage
shall be koverned bt~ the la~~• of the jurisdiction in ~~•hich the Propert~~ is lorate~l. In the event that
an~• provision oi• elause of this ~Ioi•tgak"E' or the \ote cont7icts ~~~ith applicablc: law, such conflict
shxll not affect. othei• pi•ovisions of this ~~oi•t~age oi• the \ute ~~•hinc ~an be gi~•en effect ~vithout
the cunf7icting provisiun, and to thi, end the pro~•ision of the ~Iortgage and thc: lote are ~leclared
t0 ~E' 1E'Yf~'T~it)~E`.
15. Borrower's Copy. Burr~n~•er ~hall bc fui•nishe~i ~i cunfoi•med ~•~,p}• of the \ote ~incl of this
~Ioi•tga~e at the titne ~,f e~ecution or after recordati~n hereof_
16. Transfer of the Property: Assumption. If all or xn~- ~~art of the Pl'Oj)l'1't\' (~C 2i11 interest
therein is suld or transferred b~~ Borro~ti~er «•ithout Lender's prior ~?•ritten consent, exluding (a) the
ci•eation uf a lien oi• encu~nbrance subordinate to this \Ioi•tKa~e, (b) the ci•eation of x pui•chase
money securit~• interest for household appliances, (c) <i transfer b~~ de~•ise, desrent or b~~ operation
; uf la~~~ upon the death of a joint tenant or (d) the grant of till~' Il~iSE}lOI(~ interest of three ~-ears or
les~ not c~~ntainin~,* xn uption to pucchase, Lc,nder ma~•, at Lender's uption, decl~il'E' all the sums
~ec~urcd b~• this ~Iurt~;age to be immediatel~' due and pa~~able. LE:111IE'1' ti}1<tll h~i~•e u•ai~•ed such
uption to acc~ terate if, pi•ior to the ,ale or transfer, Lt•nder and the pei•son to ~~~hom the Pi•opert~-
is to be sold oi• ti•ansfc:rred i•earh agi•eemE~nt in ~?~?•itin~,~ th~it the ei•edit of suc}i per~on is
` sati.factor~~ to I.ender and that the intere5t pa~•able on the sums serured b~• this 1lortgage shall
' be at ~uch rate as Lender shall request. If Lcnder ha~ ~~•<ii~~eci the optiun to accelerate provided in
thi~ pat'~i~,?I•~ip}l 16, and iF Borru~~~er'~ iUl'l'E'titi02' Ip interest ha~ rxeruted a~~~ritten a5~umption
a~reement ~iccepted in writing b~~ I.en~ier, L~nder ~h~ill release Borro~ti-er from all oLli~*ations
` under this ~~Iortga~e and the \ute.
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If Lender e~el'CIS( ti ~uch e~ption to accelrrate, Lencic•r shall mail BO1'CO~t'E 1' IlOL1C•E of
acceleration in accordance ~sith parakrraph 1:~ her~~uf. tiuch nutice ~hall pro~•ide a period of not less
i than :3(1 da~-~ fr~~m thE~ ~latE~ the notice is maile~~ n•ithin ~~•hich BO1'I'l)\~'t~l' lllii~' ~)tl~' L}1C sums derlared
€ cluE. [f Burru~~-er fails to pa~~ suc•h sum. priui• tu thc~ e~piration of such period. Lender ma~•.
.~•ithout further notire ur cic~ruancl un Burr~~~~•er. in~~uke 2117}' 1'Etll((~leti permitted b~• para~,*raph l~i
herE-uf.
s Non-Uniform Covenants. Bor?•u~~-E•r ~n~i Lc,n~i~ t• fui•ther c~>~~c,nani aticl agl'El~ ~is follo~~-s:
l7. Acceleration: Remedies. ~:xcept a~ pro~•idc,d in paragr~tph lF; hereof, upun Borru~~•er's
= bi~each ~f un~• ru~~enant ~?r xKreement of Buri•o~vei• in this ~IortKage, inrluding the co~•enants tu
~ pa~• when due ~?n~• ~ums secured b~• thi. J1c?rtga}:e, Lender prior to acceleration shall mail notirE
~ to Borro«•er as pro~-ided in para~,~raph 1:~ hereof spt,cif~•in~: (1) the I)PC'i1CIl; the action required -
~ to cure .uch breach; (:i) a date, nut l~ss than :30 da~•s from the date the notice is mailed to
Boi•i•o~~~er, b~~ w•hich such breach must be cui•ed; a~;d (-1) that failui•e to cw•c~ such breach on oi~
- before the date specified in the notice ma~• resu{t in acceleration of thc sums secured by this
J1ortKa~e, foi•eclosui•e bt• judicial pi•oceeding and sale of the Pro~~rt~•. This il()ttCE' shall fi~i•ther
inform Borro~~'E'I' Uf t}1P TIK}lt tU l'E'127~t<iLt ilfLE2' ilt'Cllei'<iC1011 c'lil(~ tflE I'1~.,*~lt t() ~i~Sel't ]Il t}lE'
forec•losure procee~linK the non-E•~i~tenre ~~f a default or <in~• c?ther defen~e of BO1'2'O~l'E'I' t0
acceleration and foreclusui•e. If the breacFl i` t~ot cured on or bef~?rc th~~ date specified in the
_ notice, I.ender at Lenc1E r'. c?ption ma}• declare all ~f thE ~tim~ ~eru?•ecf this ~1ui-t~,*aKe to be~
_ ![llllll:(Il2iLE'I}' <jIIE and pa}•able ~sithout further ciemand anci Illii~' fl/l'(•losc~ this ~Ic~rtgaKE b}• judicial
= proceedink~. L~•nder shall h~~ entitle~l tu c~~llect in ~uch proce~~~iin~,r ~i~I E\~?E'llties of f~?rEClos~n•E.
_ Illl'IU(~IIIQ, but nut liinit~~d tu, reas~~n~ihl~~ att~~rn~~~•'; f~~c~s, an~~ custs uf ~iuci~menta?•}~ E~~•idcnc~,
abstract~ an~l title :•t•~,orts.
18. Borrower's Right to Reinstate. \oi~ti~ithstandinK I,etzder'; arr~lcratiun of th~~ stuns
secured bt~ thi~ 11ortKa~;e. Boi•ro~ve?• shall hxvE~ the ri~ht t~~ ha~~e an~~ pi~ocE~eding~ beKun b~-
I.ender to enforce this ~lortgage discontinued at an}• time prior to entr~~ of a judgment enforcinK
this :1lortgaKe if: (a) Borrcn~~er pa~•s Le~nder all sum~ «•hich ~ti~ould be then due uncier thi~
~I~~rtgagt, thc~ \ote and tiote~ tif~etii•in~,~ Futurc r1d~•ancE~, if an}•, had no acceleration occuri•ed; (b1
" Borro~~•er cures all hreachc•s of an~• oth~~r cu~~enants ur agceements vf borro~rer containeei in this
~IortgaKe; (c) Burro~~•er pa~•s all reasc~nable Er~EIl1t`1 incurred b~• I.ender in enforcinK the
co~~enants and a~.rreemc nts ~~f Borru~~•er containecl in this ~Iortga~,•e and -in 'enforcing Lender's
`r reinedies as pruvideci in p<iragraph 17 h~reof, including, but not lin~ited tu, i•ea~onable attoi•nt•~~'s
fees; anil (d> Burru~ver takes ~uch action as Lender ma~• i•easonabl~- reyuii•e t.o assw•e that the lien
of this ~1ort~;age, I,ender's interest in the Propert~• <~nd Borro«•er's obligation to pa~• the sums
. securecl by this ~Iort~age shall continue unimpaired. Lpcro such pa}~ment and cure bt~ Borrower,
this SlortKa~?e and the obliKations secured herebt• shall remain in full force and effect as if no _
acceleration had c~ccurred.
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