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HomeMy WebLinkAbout2109 iusur~~ci ur ~;u:tr,?nt~~~xi b~• a F~~~Icr:~l ur >tat~~ a~;rn~•~• ~~n~•Iu~G~,~; L~•u~l~•r ?1 I.~•n~1~~r i= ~u~•1~ :~u ii?•titution~. I.~•n~l~~r •hall appl~ thc Fwu1, tu ~,u~• ~ui~t t:~xe;, :~~>~~.•ui~~nt,. in~iu:~ii~•~~ ~~r~•~uiuiu: aml l;ruuu~l r~•nt~. I.~•n~li~r ~1u?1) nu~k~~ no charge for so hol~iin~ :uui a~?{~I~~iu~; th~~ i~un~h ~~r ~•~•ril'~•iuk :~?~~l ~~uiu~nlin~; ~:~i~i :i~.~~..iu~•nt~ an~) 1?ilk. Rorro~~•er and l.~•~~~l~~r niu~• u~nY~ in ~~•ritiu~ :~t thc• tinu• ui ~~x~~~•uliun ui tl~i~ \Iur~R,~~~• tiiat ii~t~•r~•:t ~m th~~ N'~m~l~ ~h.?11 Ix• ~?:ti~l tu R~?rrc?~~•cr. :?n~1 unl~••• ;uc•li ,t~m~~~u~•i?t i• n?;ui~•. I.~~m1~•r ~h:~ll n~?t I~~• n•yuir~•~t tu ~~:t~• 13~rrru~~~~•?~ :im• int~•r~~•t on th~~ Fuuds. Lender ~hnll ~i~~~~ to Rorro~~•~•r. ~~~itliout ~•I~:u•R~•. :~n :tnuu:il u~~~•~?untin~; ~~i th~• l~lin~l~ ~I?o~~~in~; ~~mdit~ aud ~lebits to thc F~nuls :uul the ~n~r~~us~ tor ~~•hicli ~•a~•li ~I~~hit tu tli~• F'un~1~ ~ei~s ~u;ui~~. 'fhr Fuwl~ :~rn ~~I~~~IR~~~i :?ddi- t.ional securit~~ for thc ~uros secum~i 1?~• tlii~ \lur~~;u~~•. ' lf ihe uroo~utt uf thc~ Fun~l~ I?cl~l 1,~- I.cn~l~~r. lo~;t~tlu~r ~citl~ tiir ful~ir~• ~nuntlil~• in•t:~ll?u~•nt. uf l~~mds {ut}'tthl~ ~?rior to the ~lue ~ial!~: ot taxc~. ~:.~e•smenl~, in~~u:tin~•~~ 1?reiniwu: :u?~I Rrounii r~•~?t~. ~liall ~~xce~~ci tlic iunount. re- yuireci to ~?n~' ~ni~l tsxe., :?.~:c.sn?ents. in•ur:tuc~~ ~~r~~niium• :u?~! ~~;roumi rent. ihe~• f:~ll ~h~r. ~uc~h ezces. ~hall be. ~t •Rorro~~•er's o~~tiou. ~~itl~er ~~ro~~~~~tl~' r~•~i:~i~) t~? Iiorrm~•~r ~~r ~~mdit~~~l iu Borro~~•er un ~i~onthh• inst:illni~~nts oi FUIt(IS. Tf tI1C AlllOlllll of th~~ Fuu~l, h~lcl I~r L~~u~lc~r •iiall uot I,c~ ~ufli~•i~•ut to ~?ur 1;~xe~. :?•s~•:~iu~~nts. insurnncc ~~rc- miun~s nnd ~ruund rent~ .i. tlic.• f:~ll ~lue. Rorron•c?• ;hnll tu I.c~i~~lcr :iu}• :~u~oiiut n~~~•c,•.?r~• to mnkc u~~ thc ~iefieiency ~~'i~hin thirt~• ~lu~~~ aftcr notice iro?n !.~•uder to Rorron~~~r rcx~ue~.tin~; ~~:?y~uent tl~ereof. Upon i?ay~ucnt i~i f?ill of :~11 ~un~~ ~~~~•nre~l I~~• thi• \I~u~t~;:i~~~~. I.~~n~1cr ~lrali i~ro~n~?tl~• mfun~i to [;orru~~•cr an~~ Funds held h~~ I.endcr. It under ~~nragra{~h 18 Lereof th~~ Yropert~• i~ ;olri or thc~ Yr~~~crk~• i~ otli~r~~•i:e a~•q~ii~r~l ht• I.ender. T.ender ~li:tll api?ly, nu I:~tcr fhnu iienue~liatcl~• ~?rior to thc~ ~:ti~• ~~f tli~~ 1'ru~~~•rt~• ~n• it: :u•c~ui=ition I?~• I.~~n~l~r. .?m• Fi~n~i~ held b~~ L~•nd~•r :?t the tiine of :~E?~?li.~ation :i• a ~•n•~lit :~~:~i~ia tl~~• ~in~r ~~~~•ur~~~i tl~i~ \iortKu~e•. 3. Application o! Pa~yments. iTnlc~:: :?~~~~li~•:il~f~~ l:i~~~ ~~ro~•i~i~~: otlier~ri«•. .ill ~~:~r~u~•nt~ re~•~•i~•ryl I~r I.ender ~uider the \ote :u~~l ~~:tra~?:~~~li• 1:?nil 2 her~uf ~luill 1~~~ :i~~~~lir•~i I~~~ 1.~•n~l~~r fir~t in ~?:?~•iu~~nt of :u~?uwi[: ~~a~•.?hl~ to Len~ler h~~ Rorm~~-cr ~~n~ic•r ~?:?r.~~r:i~~l? 2 h~~r~~oi. tli~~n t~~ i~~t~~r~~.t ~~:~~•.?I~li~ un the~ \nt~~ :ui~i ui? l~iitnrr .~~1~-:inc~•. if :lu~•, und tl?c~i to th~~ ~n•inci~?a) of thr \otc~ :ui~l t~~ th~• l~rint•i~~:?I ~~i Fut~ir~~ :1~I~:uu•r:, it :~m•. 4. Charges: Liens. I3orro~~•cr ~I?all ~?:i}• :ill t:ix~~. a~:~~.,ini•iit~ :u~~l ~~tlrc•r ~•iiarc*,~~~, fini~: anri iiu~~n~ition: :ittrih- utablc to tlic Yropcrt}= ~~•nich ~nts~• :~ttai~? :i ~~riorih• ~?1•~r tl~i~ \l~~rt~;:~~~~. :~n~i !_r~~~m~l rc~?t~, if ;u~~•, at Lr.ndcr~ option in the m:inner ~~~•o~•idevl iin~icr ~~:tr:~~rc?~~li Y l~~•r~~~~i ~?r h~• I;m•r~~~~~~r ~u:ikin~, ~~:~~•ni~•nt. ~~•1?en ~itte. ~iirecti~ to tl~e pa~~cc thereoi. Rorro~~•~~r ~Ir,ill ~n•om~~th• iunii;L tir L~•ii~l~~r all noti~•e~~ uf :uu~n:~?t: ~Ine un~ic•r ±hi: ~r.u•R~rnph. and in the er~•~•nt Borm~~er ~h:ill n~:tki~ ~r.i~•i~?cnt ~lim~•ti~•. linrr~m•~~r ~Iril! ~~r~~tn~,il~• iiir~ii~l~ to I.en~ier re~~i~~ts e~i- _ ~lencin~ ~IICII ~layment~. Rorro~~-~r ~lu~ll ~n•oini~th• ~li~~•h:u•~e an}- li~•i~ ~chirli ha~ ??ric?rit~- m-er thi~ \[orina~;c: pro- ~•idecl, fl~at Borro~rer,hall not hc~ rec~uire~l tr~ ~li~~•liar~~~ :in~• •~a~•L li~•i~ :n lon~; u~ l~~~rr~~~~~~~r :hall s~re•e in ~~•ritiufi to the pr~t~n~ent of the ohli~ntion ~ecure~l h}~ ~u~~l~ lien iu :i ~n,uin~~r ar~•~~~~t:il~l~• to i.~~n~i~•r. ~rr ;hall in ~aal iait!i ~ontest ,uch lieu 1?~•. or ~leicn~i euforceuu•nt ot ~ucl~ lic~n in. le~;al i?r~?r~•~~iin~~ ~~~hi~•!~ ~~}~~~r.~t~• su ~~re~~•~•nt thc~ eni~r~~ement oi fhe lien or torl~~ItlilYr of th~~ I'ro~?ert~• ur ai?~- J?arf thereot. S. Hazard Insur~ee. I3orro~c~~r ~liall i:ec•~~ tlu• iii,i~?•+n~+~iu~•~it~ ?um e~~i~fin~, ur he~r~•:tffc•r ~~re~'.e~l ou ti~e Pro~~- ~~r1~• i~i~ur~•~t :~gain~t los~ h~• fire. li:iz:?rd, in~•ludeci ~cithin tL~~ tern~ `'exten~ie~i coverzK~". :?u~i ;uc~l~ ~~tlier haz:irris a~ Lender ma~• requirc~ :in~i iu ~i~rL a~no~int~ an~l for ~~i~li ~~~~ri~~~1= I.~•~~~t~~r tn:i~- rc~~iiir~~: ~~ro~•i~l~~~l. tli:it I.en~ler shttll not require tl~.~t th~• amount ~?f ~n~•h ~•o~•„i:«;~' c~~~•~~~•~I tL:~t :u:~r~nn~ ~~f ~•~~~•~~i:ie;~~ ?~e~~uirc~~i tr~ F~~~• th~ ~nn~• :e~ured h~, this \i~?rt~ug~. The imur:tu~•~~ ~•:tl'1'1P1' t~1'~?~•1~~i11F~ f~tt• i1~~t11:U~~•t• ~~I:t?~ hr ri~~r<~•~~ I~~• j{n!'1'~~~~•e?' -lli~jr~•1 f~? :~~~~~I'~?~•.1~ h}' T.ender: ~~ru~•i~lr~i. that :url~ .y?~?rc?~•ai ~l~all not h~• nu~•~•asouahl~- «~ithlu•'~i. :\li t?re~uiutn: on insnrauce~ ~?~li~i~•, •liatl he ~?aid at Lender'. o~~tion i~i th~~ n?.?n~u•r i~r~?~•i~1~•~i nr.~{~~i~ n:ii•:is,i;iE~i: !~r•f•rui ui• iimr~~~~-~•r ~u:iki~~!, t~a~•n~ent. «•t?cn duc. ~lirectlv to tl?e iu:urnn~~c• ~•srrier. :111 iu~t~raur~~ ~iolit•ic~ :uul ri•u~•~~:tl~ tli~•~'~~~~i ~E,:ill i:~ i~~?'u~ :~~•~•~•~~t:il~li~ tu L~•r~~it~r ::u~l ~h;~ll it~~•In~l~~ :i ~t.?ntla~Y1 ~nort~;age ~~I.ut<c iu ta~•~~r nf :u~~l in ioru~ :u•~~~•j~t;~Ll~• to L~•~t~i~•r. (.~•rnl~~r ~I~:?11 Lttr~• tli~• ri~~i~t t~? hol~i th~~ ~~~~li~i~~ :in~l renen•:il~ themoi. un~l Borro~crr ~h:il! {~r~~ui~~ti~• iin•ni~h t~~ L~ u~t~~~~ :ill re~n~•~~:il n~~ti~•c~ ,uui :ill r~~cci~st; of ~~~id pre- n~iums. ln thc c~•c~rf ui lo~~. 13~ir:•o~~•c~!• ~li:?1! ~~i~•~• ~~ro~u;~t n~~ti~•~• !lic in~i~?•:ui~•r ~:u•?•i~~r :in~l Len~le~•. ai:<! I.en~ler ~ iuay ~uakc ~~roof of lo:~ if not in,uie~ ~?rom~~tl~• h~• I;orro~~•~~r. jlnlecs I.encier :?i~~i Rorrm~-er otlic~r«~i~~~ ,ier~ in ~~~riti~~,. i~~~~i~~:~,:r~~ i~ru~•~•i•~i~ ~I~:tl? he~ :?~~~?li~~~l t~~ re~tc~?•:ttion or . i CCi~311' UI i{t(• l~l'lll~Pl't\" i~:llll:!{~1`i~. ~~1"l/~'I~'t1':~ •111•~1 1'l':1111':it111ii tH' Y~'1~:111" h ~'~•~~ltl~ll~l~•;1~~\' 1~':1~11~~1' .lll~~ 1~1P ~l'~•IU'11\' Ot thi• \lort~;a~;c is ?~ot tl~erc•h~• i?ut~:tir~~i. lt =iu•li rr:tor:itir~n ~,i• r~•~,;?ir i~ n~~t ~~~•~ni~nuir:?~i~- lr:i~ihl~~ ~n• it t!u• ~rrurit~• ; uf thi~ \(octh:t~c~ ~c~~ul~i h~~ iin~,:iir~~~i. ? 1~~~ in~~iran~•~• ~~ru~•~•~~,1• .},::?I :?E,~~~i~~~i t<? tlu• •>>u~~ ~•,n•~~~1 I~~- tlii~ \lort~a~~c. ~ ~.~itli thc cxc~~~=:. it }~ai~i tu 13orrc?~~•~•r. If tlu~ i'r~~~~~~rt~• i~ :ii~an•:un~~~i in- liurr~n~-,•r ~rr ii iiorr~~~~c•r fails iu re•~~on~l ~ to L~~nder ~~•ithin 30 ~1a}•~ ;iitcr ~;c~tic~• h~- I.~•nrlc~r t~~ Rm•r~~,t~•~ ri~:i~ t:i~• ii~.,~~:u~~•~• ~•arri~•r ~~fi~•r~ t~ ~r•ttle ~•Iaim 1or ~ insur~u~c l~e??efit~. L~~n~ier i~ :uith~riz~•~i t~ ~•~~llr~•r ,lu~i :?~~E~~~- ,i~~• u~~~u•:u~~•~• ~~r~~~•~~~•~I~ :i~ 1.~•n~icr ~~~~~ti~~t~ ~~ither to ~ •'('~tOT:lf1011 OT 1'c~1:U1't)~ 1~1t' }'1'O~~t•tl\• 111' !O i~l(• ~llll}• :l•ri(r('~I I~i" ilkl~ \~~11t~*:1~,~•. } jlnle~~ Lencler arnl l;orron~e~r ntlie•r~~~i~~• ;it;r~~~• in ;~ritin~~. :iil~- ~iu~L :iF~~~li~;?tiun ~~f ;~ru~~c~~~l~ t~~ ~~rinc•i~~al :hal! ~ iwt cxtend or j~ost~~oue tlu• ~luc ~iatr „f ;lu~ inuntl~l~- in<rali~r~•nr. ~~~~f~•rr,~,! ti~ in E~ar:?~;r:i;~li< 1:~mi 2 I~~•r~~o~ or chnn~c a ~ s 'he amouut oi sucli in~tallment~. . ~ If unrler f~ara~;i;?~:h 18 lic~r~~of th~• !'ru~,ert~• i< :u•~i~iir.~~: :s~- I.~~t:~irr. :~ll ~i~~l~t. tit1~• :~~ul ii:t~•r~~.t ~~1 Rorron•er in ~ :uui to:?i~~- iu.~n-:tu~•~• ~~c~li~~i~•::~u~l tu :u~~l t~~ tl~~• }~~•~~~•~~~•~l< t?,~•~~~•~~f ~r,~ ~i:~ . ~;~~~~t ~~i tL~~ ~n~u~ ~~•~•nr~~~i h~- thi~ ~i~rt- ~ ~:t~;C llllllll'(~l:t1P~~" j1P10C t(~ ~tU'~i ~:i~~• ~~1' :U'(~111~2~1(1111 1'i'rIl~•SItLl II~~1t1 ~~:1111 1u tl~l' ~~I'~~,~~•1'1~" ~~I't(~!' flt ~~ll' ~:i~l' Ol' ~ ;~c~~uisition .:}~311 ~,u~~ to Len~ler. ~ 6. Preservation and Maintencmce of Property; Leaseholds; Condominiums. L'~~rru~c~•r -i,,ii1 kce~~~ the 1'rol~- ,n ~ ~~rt~• in ;;~~~~d re~?.iir;?n~l ~hal; i~ot ~~er~uit „r ~•unnn:+ t~~:i~t~•. i~n~~;~iru~~•~~t. „r ~lrt~•rioi•:iti~»: ~~f tie~• }'roE~c•rt~• :in~l sl~~ll " ~•on~E?h• ~~•ith th~~ ~?r~~~•i~iou~ ~~f :in~• 1,;~~i~. if thi~ \I~~rt~:i~,~• i~:i~~~h~~l~l. It tLi~ \lori;;a~,~. „n :t ~~onciotninium r ~~~iit. Iiorro~cer ~h:ill j~c~rior~u all ~~f I;nrrrn~~•r~< ~~i,li~:?ti~n,> ~i~,;l.•: rj,~ ~I~~rlar:?ti~~u of ~~un~i~?~ni~~iinu ~~r ma~ter ~lec~1. '{IC {>~'-~.l\~'6 :lTl~l T(.'~;.11~3210115 OI 1~!t' 1•OIli~lfl3VlIll11111 1~1'1~1~~+.• NIt~~ ~•I~lhflllli'ItT i~01'llllll'llt~- ~ 7. Protection of Lender's Security. (i I~~n•r~i~~•er i:~it ~n E~~~ri~n•~~~ tL~~ ~•o~•en:u?t~ :unl :r~n~e•iucnt~ contained iu this \Iortg~~;e. or it au}' action or ~~m~•~~~~di~;~; i~ ~•o~iun~~n~•~~~i ~~~hirl~ ~u.~tcri:~ll~- af3e~•t- l.~•n~l~~r~• intrrc~t ii~ tl~c Yrop- - crty, including. l~»t not lin?ite~i to. ~•n~iuent d~?nuiin. iu~ull~•n~•~•. ~•~NI~~ ~•ntomem~~nt. ~~r :u•r,i~~eeu?~~nt~ or proceed- io~a involving a bankrupt ~?r ~lectdent, tl~cn 1.en~ler st I.enticr'~ u~~tion. ~~~~on notice tu Rorrc;~~~er. ~ua~• make such a-= e~esra~a, dis4~urse such ~uiu~ qnd take ~ucl~ :~ctioii :i~ i~ nec~~s•ar~• to ~n•otect I.ender'F interest, including. bat not limited to. ~lisburse~n~nt of i~en~m~nhl~ attorne~•:~ ice~ an~l ~mtn• u~~on the Pro~?ert~• tn inakc re~?air~. Any ~ amotmts disbur:F~i i«~ I:en~ler ~~ur~u.~nt to thi~ ~~ar:i~ra{~!i i. ~~~itL n~t~rc~t th~•1•eon. ~hall I?c~on?r ad~litional indeht- ~ crlne~s oi Aorr~~cer ~ccnre~i I~~- ti~i~ \iort~u~;c~. i'n(r~~ Kon~ot~~~~r :+ii~i I.~•n~l~r :igre~~ t~ other tenn~ of ~~ayment. such ,`Y :~?nounts •}i:ill hc ~~a}•:~blc ~~~~on noti~e from T.~~n~i~•r to I;~n•o~r~~r r~~~~n~•;titiF j~:i}-mcnt tlicmot. :?n~l ~hall hc~ar inter- est from thc ~lat~• oi ~li~h~~ne~nent .?t th~• ra~~~ ~tat~•~1 in thc \nt~~ isnl~~.. ;~:t~•iu~nt ~?f int~rc~t ;?t ~uch rat~~ ~~•ottld be r•~ntr:try- to :~~~~~licai,lc {:i~~•. iT; ~~•iiicli ~•~•r~st ~n~•!~ :uuoi~nt> ~i::~~1 t~~~ur i?~t~~r~~;t ;~t tli~~ hi;;hc~t r~tc ~~crmi~sihl~ bt- ';z :?pplicablc l:itti-. ~otlin~~ ~~or.tainc~i ii: tl~i~ ~~a2:~~r:i~~li 7<ii:ii! rr~tsiir~• I.~~n~lc•r t~~ in~•n?• :en~• cx~,cn~c or ~io .tny a~t ~ hereunder. ~ . . ~ • ~,n~ q lfV f-~ fA~EI'..L „3 `YX'. - ~ y~ k'~'~ _ . . r~?~ ? ~ +.c'i ' sr' .,s ~ ~ ~~+yf~ ,~ii~'~..E"'~+ a~ T"( T ~ ffi3P+ : H ~ ~ A£ Z'K' i ~1 21` '_-z~> x.~,5$ s~<'°a 3 - . ~ . ' . k+4J` _ _ : ~ ~ ~ . s_ ~ ~ + '~i". 3~-~~_-.'4a.i _ ~ ~ ~ ~ . . . ~ A' .