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HomeMy WebLinkAbout1683 8. 1118F10Ct10I1. ~.~•IU~r1' lu:t\' hl:t~~• ~~'..fihc.lu I~~• h~:uli• I~:~~uU:tl~lr r;itili•~ tl~~ul~ :tlu~ IIi>~~r11iu1~~ ~?1 111~• 1'1'u~r rrt~', 1??•u~•i~1r~1 th:tt l.~•~i~irr ~lu~ll ~i~•~~ li~?rr~~~~•~•r iiulir~• ~+r~ur t~~ :u~~• ~u~•li iii~~~~~~•ti~~u .~~~•,'i1~•iii~; r~•:?~un:t{~i~• i•iu~st~ thei~eiur trlated to I.~n~i~~r'• ii~t~v-~•:t in th~~ !'ro{~rrt~•. 9. Condemnatiot~. 'l`lu• ~~ruccc~is oi ;uit• :t~~:u,l ~~r ~•Fiiiu iu~~ ~lania~;.•.. ~iir~•~~t ur rc~?i,~v~u~•nti:~l. iu ~~o~uicctiou \1'Ifll :Nl~' ~'Oll~~l'1I111:1f11~U ul' ~1?~1PI' til~ilik; ul (fit• E~fu~~~•Pt1'. I~:tY~ ~~It•Yi•nl, u!' luY rull\'~•~':lh~•~• Itl ~1~•Il ~~f ~•Ull~~i•l~Ill:l- tiOn, are heCe!?~' :t~.~i~;ue~~) :in~) ~l,ul1 Im pai~l i~? 1.~•ml~~r. In tltc c~•cnt ~~I a tut:~l t:~ki~~~; of th~~ Yru~~~~rh•. 11~~• ~~ru~•~•r~1~ ~Ir.~ll L~• :~~,~~li~•~1 t~? 11~~• -~n~~: ;~•~•~u•~~~1 h~• tl?i~ \lt,rt- ~;u~;e. ~~•ith tlie ~~x~~~•;;. il :u?r. ~~ai~l to 13orro~~•r~~. In tiu• ~•~•~•ut ~~i ~~:u•~i:~l iakin~; uf th~~ i'ru~,~•rt~•. i~nlc•:: ];urro«•cr :~nd Lc•ndc~r otl?cr~~-i~~• :~~r~•~• i~? ~~•rilin~. tlier~~ •lr.~ll t~~~ :i~~~~ti~~~( tu tl~~~ ~ui~~~ >~•~•ur~~~! h}• fhi~ \!~?r1~;ziR~~ ~u~•l~ ~,ro~~oa•- tion o( t1~e procee~k :i~ i; ~x~ual tu tiult'~~ro~?urtion ~~I~i~•h tl~~• :tiuuurrt t!?~~ ~~u~l~ ~~~+•ur~v! 1,~• thi~ \lortkag~• imme- ~tiatcly ~?rior tu Ih~• ~l;itr ~~i tski~~r 1,~•ar tu ~h~~ i:~ir ~u:uk~•t ~:~lu~ ~~i tli~• I'ru~?~~rt~• iinin~~ili:~t~~l~• ~~rior iu t1u~ ~I~te of taking, ~vitl~ thc h:tlau~cc ~~1 thc• ~?ruc~r~~l~ ~~:ii~i tu Rorm~~~~•r. If thc 1'ro~~ert~• i: ah:uulu~~c~l 1?r liorro~~•rr or it :~tt~•r ~~ui i~•~• i~~ L~•n~lrr tu Rurro~rer tluit thc ~•ornlciuuor offcr: to ~uake an ;?~~•:~rci uc ~ett:. :i ~•iaiin lor ~isn~:?c;e~. Rarro~~~er i:~il; t~~ re~~~un~i te~ L~~ndc~i• «•iti~in :30 ~i:i}~~ of tl?e dntc• ot ~uch uotic~~. Lci~dcr i~ :~ntlun•izc~i ~•~II~•~•t :unl :i~~~~l}• tl~~• ~~r~~~~~•r~l~ :~t L~vnie~~•:- u~,ti~,n ~itli~•r to rc:tor:ltim~ c~r repair of the Yra~?ert~• or to tli~~ ~+u~~, :ei.ure~! i,~• tl1i~ 11~,rt~~:~:.~~~. I~i~le_: I.~•ii~lei• :iu~i 13orro~~•er uther~~•is~• a~ree ii~ ~~~ritint;. :in~~ •uch a~iplication of 2irocec~l~ t~~ ~n•iu~•i~~,il sliall not extend rn• ~~o~t~?om• thc• ~lue dntc of th~• montlil~• ii~~t:illiu~•nt: r~l~~rrc~~l to iu ~~:u•:?~.;ra~?I?• 1;tnd hercof or ch:u~gc thc :unonnt of •~ic{? inst~lliucnt~. 10. $orrowerNotReleased. I~.~te~isiou c~f tlu• 1i~u~• ior ~~:~~•nu•nt ur inaiifi~:~ti~~n ~~1 ;u?~ortiztition of thc ~um~ ~ecarecl I~ti• ihis \Ioriguge ~r:intc~i i,~~ Lemirr to :tu}• :iu•~•r~:o~~ i~~ ir~t~•r~.:t c,i Borro~rrr ~1~:~11 ~iat o~~crate to release. i~i :~nv u~aniier. thc~ li~l~ilitr of thr oriri~?:il 13orro~r~•r .uf~l Iturr~,~~~~•r'• •u~•~~e~•or~ i~i i~~tcr~~t. I.co~ier •hall not i~e rcy~iirc~l t~~ i•onui~enc~• +n•~~rr~~liu~~ a~;;tin~t ~uc•1~ ~urcc~~crr ur r~~fir~~ ii~ ~~xtr~?~l fim~ for 1?:?~~uicnt ur oth~ri~•isc modifr cunort.ization of the ~uu~ti ~ecured h~• tlii~ \tort~;:ig~~ h}• rc:~~un nt :ui~• ~i~~u~an~i ~n.uic~ b~• th~• ori~ii~al Rorro~rer and Borm~ver's successors in intemst. 11. Forbecuance by Lender Not a Waiver. .1u~• lonc~.u•:ui~•~~ h}- Len~ter in excrrisiu~ an}• right or remed~ I?ereunder, or other~~•ise afl'ordc~l h~• ;~i~~~iical,i~~ la«-. ~i~all not «•zi~•~~r of or ~?re~~lwl~ thr e~ercise of an~• right , or ren~c~i~• hereuu~lcr. 'Clic• ~?roct~r~ilmnl of i?i~ur:u~~•c or tht~ ~,a~•»ient ~P taxe~ c?r oth~~r licn~ or ~l~ar~es h}~ T.ender sl»~! ~~ot he ,i ~~•ai~•er u~ Lender~~ rigi~t to a~~eeler:ite thc~ n~aturit~• uf the indehtcdn~~~~ ~ecurc~i h~• this \iort~nge. 12. Remedies Cumulcttive. _111 rc•~n~~~iie~ ~»~~•i~l~~~l in ti~i~ ~tort!~:it;~• ;ire ~1i~tinct ;u?~i cuu~ulati~•e to am• other right ~?r irmc~lt• urnl~~r tl?i; \lorig:i~~~ ~~r :~tlor~lr~l 1~~~ I:i~c ~ir ~•~~iiit~-. .u?~i in:i~• l~c ~~xc•r~i~M1 ~~ou~•urrenfl~~. indePend- rntlt• or ~urcec.i~•el~~. 13. Successors and Assigns Bound: loint amd Several Liability; Captions. "tli~ ~•o~•e~~:ent~ an~l a~reement~ herein i~~nfainc~i ~halt hincl.:uui thc i•i~hi, }ieir~~tiric~• ~l~all iriur~• 1i,. thr rc.yic~ti~•~~ ~i?c~•~~~o~:: :uui a~~i~n• of i.ender :u~d 13o?•ro«~<~r. ~ui~j~~~•t t~~ t!u• +rro~-i~ion~ of ~,:ii•ci~.:r,?~?li 17 lu~r~•~~i. .141 ~•o~-ev~.~nt~ :u?~l .i~rrcn?cnt~ of Borm~~•er shall i,e j~int. ;in~i ~r~•er:tl. 'Chc ~•n~~tiou: :in~t hcailinr: ol tlu• ~~:u~.?~,r:ii~h~ ui thi~ \l~rt~;a!~c• :~rc• f~~r ~•oin-~~ni~ncc onl~' an~l ;ire not to he used to interpret or ~lcline thc• ~n•o~•i~i~~ii~ lu~r~~of. ~ 14. Notice. :1n~• noti~•e to Borm~~•~~r ~~ro~•i~ie~i irn~ i<< thi~ \lu~~tr:i~;~~ ;iu?II i~~~ ~;i~~~•n h~- niailiu~; :url? notice hr ~•rrtifie~l u?ail :ul~ire~~e~l to ]iorro~~•~~r :it tii~~ Y-ro~x~rtr :\~i~ir~•:. :t:it~~~l hrl~?«-. ~~x~•e~~t for :it?r t~«tire~ ~r,quirerl under ~~:u•.igra~?1~ 1R Iu•rcoi to i~~~ ~;i~•~•n to 13orro«•~~r in tlu~ ~?l:ii?~~~~a• ~~~•~:~r~•ih~~~! f,~• :t1~~di~~:iLlc• l:i~~~- -~ii~• noticc J~ro~•ide~l iorin this \tort~a~c• ~h~ll 1,~~ ~1~~~•iuc~l t~~ li:?~•~• h~~~•ii ~~i~-~•n tu Rorr~?~~~~•r ~~-h~~n t;i~•c~n in t!u• »u~nncr ~lc~ienatr~i herciu.. - 15. Unifozm Mortgage; Goveming Law: Sevecability. Thi= ior~u ~i mort~*.~~;c~ ~•oulLirn~~ uniforn~ co~•en~nts tor nationa) i~se :u~d no»-uniform co~•en.tnt~ ~~-itli liroitcvl ~-:u-iation: 1?~- iuri~~lirtion to ~•onstitntc ~miCorn~ secu- rity in~tru~nent a•o~•erin~ re;il ~?ro~~ert~-. "Chi~ \[ortgu~,~ ~hall {~c ~,o~•ern~~~l h~• the la~~- ot the• j~~risc~iction i?~ ~vhich the Yro~~ert}• i~ locatecl. in the e~•ent tfiat ;iu~• ~+ro~•i~ion or rf;tu~~~ of tlii~ ~tort~age ~r ihe Note conflietc ~vith applicabie la~~•. ~uch ~~onflict ~hal1 r~ot ciffe~t other i~rm-i~iun: ~~i thi- ~Iortgagc or the \ote ~~•hich ~an be given effeet ~CitliOilf tIl!• ro~lfli~fin~ ~~rorisiou. :uul to thi~ ~n~i thc• }~ro~•i~ion~ nt thr \(ort~a;;c :uul the ~ote are declared to be severabie. 16. Borrower's Copy. Rarro~~~c~r ~h;ill h~~ furni~li~•~1 ~v~nfonn~~d ~•~~t~~- ~,f il~i~ \Iort~age at tt?e time of execu- tion or atter reconiation hercol. 17. Transfer of the Properiy; Assumption. 1f :ill oi~ :?u~- ~~;~rt ~il tlic 1'ro~iert~• ~+r ;in interest tl~erci~i is sold or transi'crre~i I~}• Rorro~~~er ~~-itl?o»t T.en~icr'~ ~u•ior «~rittc•~~ ~•~~n~ent. ~~x~~luclin~; ~a ~ the ~•rt~.ition of a lien or encum- br3nce -~~hor~iiuatc to tlii~ \Iort+~a,,r, ~h? thr rr~;~fioa~ ~>f ~:r,r+•i~:s-~• ~uo?u•~• ~erurit~• int~rc•:~ for houschold appli- :ii~~e:. ~i•? tr:in~fe~• h~• ~Ie~~i~e. ~li~~~c~nt ~n• i?}- u~~~•r:iti~~u ~~t I:t~~- »~~~m tlii• ~le.~tl~ ol :t ji~ini t~~u:u~i or i~ll the ~rant of an~' Ic:i~c•1?ol~l int~•re~t ~?f thrc~• ~•car- or i~~=: rn~t r~mtai~iiu;; :ui ~y~ti~m tn ~+ur~La~~•. Le~i~{cr ~ua~•. :it T.ender'~ option. - ~le~l:ire all the ~u~?r ~c~•tn•c~t 1~~- ti?i~ ~fort~::i~~c~ t~~ hc• iniiur~li:?t~•h- ~In~• ,uul i,.?~-,ihl~~. I.en~ier ~h:ill ha~•e ~c-aired such option to :u•~•c•I~•r:tt~• ii. ~?rior to th~• ;.ilc~ ~~r tr:tn~i~~r. L~~n~i~~r :?n~i tii~• ~~ri•-~~n to «•!i~?tii tiu~ !'ro~?crt~~ i~ to be sold or tr3u~ierre~i rea~•i~ :ic;r~~enient i~i «-ritiu~: tl~ut th~• ~•r~tiiit ~~f ~~t~•1~ ~~ec-~,n i. -ati~i.?etor~~ to L~•n~l~~r and that the interest ~~a~•able on the ~~i~n~ ~~~c•ui•eri h~• thi~ ~lort;;a;;~• ~L:~11 L~~ at >~~~•l~ r.it~~ l.~•n~lcr ~hall r~~~~i~e~t. [f I.ender l~as ~•ai~•ed the optio~~ to :u~~•rleratr ~~ro~•i~tc•~I iu tLi• ~~ara~;i;i~?l~ 17 ;u~~i if liurr~~~c~•r'~ ~u~•ce~:or in intere~t Las ~~eeutecl a ~vrit- j t~~n a~siuu~~tion a~rcrinc•ut a~~~•c~itc~i in n-ritiu~ I~}- I.i~n~i~~r. I.~~iui~•r ~L:~Ii r~~lc~a•~ Bon•o~~•c~r tran~ :~il ohii~ation~ under tl~i~ ~Iortgagc and tl~c• \otc- If Len~ler exer~•i~es ~ucl? uE?tion t~~ ;~c~•eler;it~•. l.c~tuicr ~1ui1! ~nai! l3orroti~•er ~iotice of sc~~clerltion in :~ecordance ~citl~ ~~:u•.~~~:~~~li 14 hc~rr~if. ~~t~•l~ ~~oii~•~• ~l:all ~ir~~ti-i~l~• .E ~,~~riu~i ~~f m~t I~~~: ttu?n 30 ~I.t~•~ troiz~ th~• ~latt~ thc• notic~ i~ ~«:iiled ti+-iii~i~~ n-hirl~ 13~~rro~~•~~r iu.~ti• ~~a~- th~• =iuu~ ~Ie~•l.u-~~~i ~In~~. Ii liorr~n~~err iail~ to >u~•h ~u~u~ ~?rior to thc: ~~x~~ir:etiun ui -u~•li ~~~•ri!~~1. Leu~lcr nr,tir. ~~~itlumt inrtlu•r nuti~•~• ur ~I~~u~:unl ~?n 13orr~m•c~r. im•~ke~ cu?}• mme~iic~ per- - init,teci h}• >>ara~ra~~li 18 hereoi. ~u~-l'xt}-n~:~t l'~?~~t;x.~x~r:. i~urru~i~•r anil I.~~u~l~~r 1'in•th~~r ~•~?~-~•~i.u~t :tn~l a~,~r~~c~ 1'~~llo~~•s: 18. Accelerafion: Remedies. I•:xr~_~~~t a~ ~~nr~~i~l~•~1 ii~ ~~:?r.~~.;r:~~~i~ 1; lu•r<~~ii. ii{~un l~orrc~~~~~~r': hr~•ach of ..~n~- ~•u~-~•u:u~t ur :?;;r~~~•iu~~nt of Borron-c•r in tlii~ \I~n•t~:i~i~. in~•loulinr tlu• ~~?r~~nant~ tu ~~at• ~nc~~n ~lu~~ :in~• :un~~ secureci Ir~• thi: ~lurt~;a~;~•. I.e~n~irr ~?ri~?r t~? a~~~~~1~•r:iti~m ,Is:~ll iuxii noti~•~~ t~? Iiorro~~~rr :i~ ~?rori~t~~~1 in ~?ura~ra{?f~ 14 hereoi :~~e~i1~•in~;: ~ 1? th~• f~r~•ac•h: ~21 tlic ;~~•ttun n•~~uiri•~i tu ~•~u•~~ ~u~•li l~r~•a~•h: ,:~i a~Ist~~. n~~t 1~:~= tli.it~ thirt}' i~.~~~~ fron~ thc ~f,?tr tfu~ n~~ti~~e• i= uriii~~~l t~~ 13orru~ci•r. h~• ~chi~•!i ~u~•h l~t~e•s~~•I, ~»i~~t I,~• rur~•~1: :uul ~•1~ tl~at fr~ilur~~ to curc <uch hrra~li uri r~r hrf~~r~~ th~~ ~l:~te• -1~e•~•iti~•i! in !h~• ~ioti~•~• ~u:~~• m~ult in a~•~~~~I~~r.tti~?n of th~• ~uui• :e~•ur~tii h}• thi. ~lort~;agc a?i+! s:+lc~ ~~J tlir Pro}~ert~•. If th~• l~r~:t~•h i~ n~~t ~•~u~~~~i ~m i~r h~~ion• th~• ~l:~t~~ y~e~~itie~i in th~~ notice. Lernler at I.ender'~ ' oy~ti~~n ~na~- ~1~•~•I:~r~• all ut th~~ ~inn; ~~~~•,u•~•~{ I~~• thi~ ~I~?rt~;a~;~~ to 1~~• i~uuu~~iiat~~l~• ~tu~• :uut ~~a~~ahl~~ ~~•ithout fizrtt~er ~le•nrt~z~l an~l iua?~• fure~lua• thi~ \1ort~„a~~• ~u~li~~i:~f ~~n?r~~~~~liu~; i.~~n~1~•r ~i~ali I~i• cut~Nev~ tv c~ollert i1i ;uch ~~rocceNi- in~ ail ~~x~~~•n.~~• ~~f torc~i•I~,:ur~•. in~•ln~iin~. I~iit nu~ liniit~~~( ru. ri~:i~~~t„~t?I~• utt~~rnr~-'< ie~~~. an,l ~o~t• of documentar~~ cvidencc..sh~trtt~•t~.~n~i tif1~• ~~ri1ori~. f r Fr~UC ~L~~ ~ ~ ~ _~x""~ - r ~ ? " '-s' "`'"y `i'}_~~. . ~ . a _ . : . _ ~ _ .r~~a a•,.._'~.