HomeMy WebLinkAbout0941 A1y ~TOuntS ^.SDu~5P0 bY ~r~':E~ Cu~SUd~1 'J 'h f~d~3~•dC~ :'.~th i^'.r+esi :~e~eon ih~4 ~E=UmC d,:~~.;J~AI ~n-
dtbteQness ot 8o~~~r.ve~ Seturrd nY t~~s ti10~tVdgC U~'!SS 8:rrower dnA 1e~.7er dy~e~ to othe~ tC~ms o~ D~~ment ,uth
~mOunti S?W~1 pe pa~eo~e uuu~~ no'~ce ~~om ~enc~er ro 8onowe? ~enuest~~q pavment tne~eo~ dAA Shd~i ~Caf inte~lSl hOT (he
ddt! O~ d~Sbu~scment Jl ihe ?3l@ l~JV30~d ~rUm t~me to hme un uut5tartd~nq prmc~pal under tne Note umess oavment o~ •rte?est
at SuC11 ~At! ~VUu~d h4 COntidry lU dpp1~CJ0~d'JW H~ Whi~h @vl~~t Sulh dmOUnIS ~hJll Ac!Jr ~ntC~C51 aI M! h~q~@S~ r~t@ PCrm~SS~C~Q
~nder dpO~~CJD~Q ~dW Nuth~nq CJntJ~neA ~~l IN~S pJr~yr~ph ~ ShJU ~eUU~ta ~gn~Jrt tU ~nCU? dny P~UtnS! tU t~Ae d~y act~on
~ereunder
8. InspectFO~. Lenae< <*+ay m~ke or cause to be ~~3de reBSOnable w?1n~!S uJO~ and inspect~ons o1 the Proaertv. p~ov~ded
that le~Aer sha~l give 8orruwer notice pnor lo any such insVect~u~ speCdy~ny reaso~~aL+e cause there~o~ relatnd to Lei~cl~r's ~n-
terest ~n t~e PrauertY
9. Condemnat~on. The proceecis ot any award or ct~~m for damages. d~rect u+ ConseQu~nhal. m connett~on wHh any ton-
demnac~on or ou~er ~ak~ny ol u~~ Pro~,erty, or part thereul. o~ (o~ conveyar~ce ~n i~eu o! condemnat~on. are hereUy ass~g~ed and
sha11 be pa~d to lende~ ~ ~
In the event c+t a total taking ol the Pruperty, th8 prOC~eds shail be appl~ed to the sums s~cured by th~s Mortgage. w~th the
ezcess. any, pa~d to Burrower. I~ti lhe event ol a part+al ta~,~ng ol the Prope~ly. unless 8orrower and Lencler otherw~se agree m
wnt~n9, tf~ere shall l~e ap~.:ced to ehe sums xcured by this Mortga~e su~l~ proport~on ol tl~e proceeds as is equal to Ihat propor-
Uo~ wh~ch the amount of ~he sums secured by th~s Mortgacye ~mmed~atelv pnor to ~he date ot ~ak~ny bears to the lav market
value ot the Property immerJ~ately pr~or to the date ot takmg, w~th the bala~~ce of the proceeds pa~d to Bo~rower.
{t the Property u al,andoned by 8orrower, or i1. atter not~ce by lender to Borrower tl~at the condemnor o((ers to make an
awa~d or settle a ctaim tor dama~,;es. Borrower (~its to respond tp Lender w~tl~in 30 days alter the date such not~ce is ma~led.
lender ~s autl~onzed to co~lect and ~pply the proceeds. at Lendei s opt~on, e~ther to restoraaon or ~epa~r of the Property or to the
sums secured by th~s Morty~~e
Unless Lender and Borrower otherwise agree ~n writing. any such application of proceeds to princ+pal shall not extend or
postpor~e the due date o( tl~e montlily installments refer~ed to ~n paragrapl~s 1 and 2 hereo( or change the amount of such ~n-
stattments. '
10. Be~rower Not Released. Extension of the time tor payment or mod~l~cat~on ot amortiiation of the sums secured by
this Mortgage granted by Lender to any successor in +nterest ot Borrower shatl not operate to release. in any manner, lhe liabili-
ty o( the orig~nal Borrower and Borrower's successors in interest. Lender shatl not be required to commence proceedings
against such succe~sor or re(use to extend time for pay~nent or ott~erwise mod~fy amore~tauon oi the sums secured by th~s
Mortgage by reasan of any demand made by the ong~nal Borrowe~ and Borrower's successors in interest.
11. Forbearance by Lerder Not a Waiver. Any torbearance by Lender in exercising any right or remedy hereunde•. ~r
otherwise af(orded by applicab4e la~v. shafl not be a waiver of o? preclude the exercise oI any such right or remedy. The procure-
ment of insurance or tt~e payment ot taxes or otliec liens or charges by tencfer shalt no[ be a v~a~ver of Lender's ~ight to
accelerate the ma[ur~ty of the ~ndebtedness secured by this Mortgege. -
12_ Remedies Cuinulative. All remed~es provided in this Martgage are d~stinct and cumulative to any other right or
remedy under th~s Mortgage or alfo;ded by law or equ~ty, and may be exerc~sed concurrently, inde~endently or successively.
. 13. Successors and Assigns Bound; Joint and Several Liability; Captions. The cDvenants and ag~eements herein con-
tained shatl b~nd. and the rights hereunder shalf inure to. the respect~ve successors and ass~cyis ol Lender and Borrotiver, subject
to the prav~s~ons ot paragraph 17 hereot. AtI cove~ants and agreements of 8orrower sl~alt be jomt anil several. The captions and .
headings o( the paragraphs of th~s Mortgage are for convemence only and are not to be used to ~nterpret or dehne the
provisions hereot. -
14. Notice_ Exczpt for any notice required under applicable lain+ to he giver. in another manner. {a{ any notice to Borrower
previded [or in th;s Mortgage shall be given by mail~ng such notice _~Y Cect~t~edTnad addressed to Barrower at tha Propertv Ad-
dress or at such other address as 8orrower may des~gnate by nou~e to lender as provided herein. and 1b) any notice to Lender
shall be g~ven by cert~fied ma~l. return receipt requeste~. to Le~der's a~dress stateG here~n or to s;:ch other address as Lender
may designate by notice to 8orro~ver as provided herein. Any notice provided tor in th+s~Mortgage sha11 be deemed to have
been given to Borrowe~ or ! e~der when given in the manner designated herein.
15. Unitorm Mortgage; Governing Law: Seve?ability. This form ot mortgage comb~nes unifocm covenants for ~atio~al
use and non-uniform covenants wrth I~mited variations by jurisdichon to constitute a umfarm secu~ity instrument covering reat
property. This Mortgage shatl be governed by the law of the j~nsd~ction in wt~~ch the Property ~s located In the event that any
provis~on or clause o( th~s Mortgage or the Note contl~cts wi~h applicahle IaN. such cor.fhct shalt not aitect other provis~ons ot
ih~s 1/lortgage or the Note which c3n be g~ven effe~t without the conflicung provis~on. and to this end the provis~ans of the
Morcgaye and the P~oce are declared to br. severable.
t6. 8orrov,er's Gopy. Borrower shali t~e ti~~~~sned a con(ormed copy of the Note and ot this Mortgage at the time o~ ex-
ecut:on nr Ttter recordat~~~ hereot . '
1~
IPITENTIONALLY OMITTED
. ~
NON-UPlIFORw1 COVENANTS Borrower and Lsnde~ further Cove~~ant ond a~ree ~5 (ollows "
18. AcCelerat+on: Rrmedies. Ezcept as provided in pararraph 17 he~eof, upon Qnrrower's breach ui any covenant or
agreement o( Borrower i~ th~s Mortga~e, ir~dud~ng the covenants to pay wl?en due any sums secured by this Mortgage,-
lender prior to accelerarion sl~all mail notiCe to 3or~owo~ as provided in paragrapfi 14 hereoi speCifying: ~1) Lhe breach:
(21 thp action raquired to cure such breach; (3) a dale, not tess than 30 days From the date the noti~e is mailed to
Bnr~ower, by wh~ch such b?each must be cured: and (4) that ta~luru to cure xuch breach on o? before the date speufied ~n
the not~ce may result in accelarat~on ot !he sums secured by this tilortgaga. toreclosure by jud~ual proceed~ng and sale
of the Peoperty The not~ce shall (urther inlorm fiorrower ol tht n~h! to re~nst~te atter accele?at~on artd the nght to
assert in ths fareclosure proceed~ng the non~existence o( a delault of any othar delense of Borrower to accele~auon and
forcclosure. It the breach ~s not cured on or (helure Ihe date spcc~l~ed in the not~ce, Lender at tende?"s option may
declare all ot the sums secured by th~s Mortga~e to be ~mmed~ately due and payable w~thout (urther demand and may)
(ocedose th~s hlora~age by jud~aat proceed~ng len~er shall be e~it~tled to collect in such proceed~~g all •¦penses ol
toreclosure. inctud~ng, but not I~m~ted to, rcasonable atto~~~ey's lees, and costs of documentary evidence, abstratts and
title rep~rts.
ao~x P~v~ 941
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