Loading...
HomeMy WebLinkAbout0372 iu,urrd ur ~;u:ir:~ute~~~i 1?~' :i h~~~l~~r.t) ~~r ~t;?t~• :?;;~•ur~~ iit~~•!~nlir.r 1.~•i~~l~•i ~f 1.~•i~~i~•r i_ •ui•li :tn ii~~fit~iti~~t?i 1.~•iui~•r ~hall a~?ply Ihc r'~uul. ti~ ~r,~y ~:ci~l t:~x+•~, :;-~~~•.~urnt~. in~nr,~u~•~• ~~r~~~uiuui~ :uu1 ~;rvuu~l ~~•iit• Lrmic~r :liall ~nukc nu ~•iiarf;e t~~r,o !?ol~liu~;,uul n!?I~i~•iu~; tiu• Fun~i• ur ~~~•cil~~~ii~; ;~i~~l ~~~~ui~nlii~~; ~~~i~i :~~~~~~~un•t~t• :~u~l t~ill~. Rorr~~~~•er nnd L~~n~i~~r ~u:~y :t~rcv~ in ~~•ritin~; .?t th~• tini~~ ol ~•x~•~•~iti~~n uf thi~ \l~?rt~;a~;~• tl~a~ int~~r~~~t ~m th~~ F~~mi~ ~h:~ll IN• ~~.ii~i io I~urro~~~cr. :uid unl~•,• :ucli :i~;n•~•~n~~nt i• u?~ul~~. l.i~!ul~•r ~I~:ill not !~r r~~~~uirc•~i to ~~.t}• Fi~~rr~~ti~~~•r :?m~ int~•r~~:t cm th~• k~un~ls. Lc•nder ~1?nll };irr fo Rarru~~•rr. ~~~ithonl ~•li:u•t;~•. ;in ;uuiu:?1 :u~~~~~~u?tii~}; uf th~• ~itu~l~ ~hu~~in~ ~•r~~~lit~ :tn~i ~IeLits ta tl~c Funds un~l th~~ ~?ur~?o:c~ for «•hi~•li ra~•!? ~I~~hit to thi• H~u~d~ nin~l.. "!'hc~ Fm~~1~ :in~ ~~1~~1~;~~~1 :~ddi- tional sccurity for thc ~ums secumd h}• thi~ \lortgu}~c. If the amount of the Fuu~l~ I~el~I 1?~• I.cn~ler. to~;~~tlu~r ~~•i11~ tlu~ fntnm i~:u~l1l~Ir it~•t:~llin~•i~t, of F'un~1s ~~RVRI)I(• ~?rior to the ~iue ~I~tc~ of inxr:. a~secsnient•. in•ur:u~~•c ~n~eniiuiu: :uul ~;roun~l r~•nts, ~liall ~•xceeci the umount m- yuirerl io pay ~aid tnxes, :?sses.ments, insurune~• ~~re~uiuu?s .ii11I t;l'l)UI1lI Ceni: tiu•v lall ~tuc. sunc ~•xcess shall I~e. i at Rorro~~•cr's aption, cithcr ~~ro~n~~tl~' rc~?r?i~l to Rorro~~•er ur ~~n•<litctii tu 13orro~~~er on ~nontl?I~• inst.?ilmcnts of ; Fw?d~. If the amount of thr I~~m~l~ hcld 1~~~ i.ender ~h~ll not I~~• ~ufli~•i~~nt to ~u~~• t:ix~~~. :~.•c•=.ii~c~nt~, imurancc pre- ~ iniums nnd grou»d mnf. us they f:?11 ~iuc. Rorro~~•er shull to 1.~•uder un~• auunilit u~~c•r.~:~r~• to niake ui~ thc ~ deficiency within thirlj~ ~luy~ after notice troni l.en~ler to Ror~•uu•cr rc~~ur~tin~; ~~:~y~ucnt th~•reui'. i Upon ~~ayment in fi~ll oi :?11 ~wn• ,e~•urivi h~• tl?i~ \I~~rt~,:i~~•. Leni1~•r •hali ~?r~~m~~th~ rriun~i to Rorro~~•er .in~• ~ Funds held bv I.ender. i If under ~nua~ra~~h 1R 1?ereoi tl~~ Ym~xrrt~• i: :~~I~i or thc~ 1'ro~~ert~- i• othern•i~~• .~c~uired h}~ i.ender. Lender r ~haU upplv, no later thr?n iinmc~iintcl~> ~~rinr to th~• ~:~i~~ of th~• Yro~n•rt}• ~~r it, s~•~~ui~ition !?v l.c•n~icr. :~m• Fund~ heid by Lendcr :it tlie tin~e ut :~pplict?ti~n :i• u~•?~~~iit :~~::~in•t th~• ~u~n, ;e~•w~~•~i h~• thi= \lori~;a{;e. ~ 3. Application of Paymenis. Unle" .i~?~~li~;~hh~ la~~~ ~?ro.•i~i~•• othcr~~~i~~•. ail ~~.i~•nu~ui• r~~~~~i~•cYl h~~ T.ender 5 nnder thc ;\~te .uid ~?uru~;rasph• 1 z~nd '2 l~er~~ot ~lu~ll h~~ a~q?li~~~i i~~• L~~n~l~•~• fi~::i in ~?a}>n~ent ni :iuwunt~ ~,a~•nblc fo ~ Len~ier h~~ }3orro~~•er u~id~~r ~uirn};r,~pli 2 hercoi. tlu•n t~? int~~r~~;t ~~:~~•al~le~ i the ~ot~• :tml on I~ntnri~ :1+1~•auces, if :u~t~.:?nd then to thc ~~rinci~?:~l of ihc• \'otc un~l to tl~~• in~iu~•i~?al of h'~~tur~ :1~h~anc•c:. if an~•. ~ 4. Charges: Liens. RorroH•cr ~hall ~?s~• all tax~~. a~;~~~~u~•r?t~ :u~~I othcr ch~r~;c~:, ~n~~: an~l iro~~osit,ion4 :~ttrib- ~ utable to the Pro~~ert~• ~rhi~h m:ty :?ft:iin :i ~?~•iorit~• ~~~~~r tl~i~ \tort~ai~;c. :u~~i t;rotu~~l rent~. if am~. at I.ender's ~ option in the n~unner ~~ro~•i~lc~l nn~ier ~~.u•agra~~li 2 li~rreuf ur 1~}• Rorro~cer uiukin~; ~r.i~-ment. ~vheu ~tue. c~imctly to the p3~'ce therec?f. Rorro~~•cr ~l?all ~~rom~?th• turni~h t~~ 1.~•u~lcr :~l! ~~oti~c~: ~~f :unount~ ~iuc under this pacAgrnph. .?nd i;~ the c~•ent Rorro~+-er ~luill ~nak~~ p.i~•uic»t ~lim~th•. Rorron~cr •fiall ~?rou~~~ti}• f~u•ni~h to Lcnder reccipts evi- riencing soch ~m~n~cnt~. Rorro~+•er ~hall {rroui{?th• ~li;~•li:ire;l~ :~n}• li~•~i ~~~i?i~h ha~ ~?ri~rit}- u~•c~r thi~ \Iort~a{~e; pm- videcl, that I3orro~~•et ~l~zll ~iot L~• nc~uire~i to ~ii~~t~arp;e• an~• -neh ti~» ~o lon~; ss R~rrm~-~r ~h:tll a~me in ~~ritin~ to the p:~~~ment of the obli~ation .~cure~i h~• ~uch lie>> in niui~iu~r :u•~~~~~?tahlc to i.~mier. or ;hall in ~;oo~l itith contest ; ~uch lien hy~, or ~iefencl enforcem~~nt ~t sucli licn in. lekal E~roc~~c~lin~= ~~~i~i~•li o~icrat~• to ~»~e~•ent th~ enfomement~ of the lien or forfciturc oi th~ Propertr or :u~~• ~~art ihemol. _ 5. Hazard Insurance. I3orro«-~r ~hatl kec~~ the~ in?~~rn~•~•nu•nt~ n„~~ ~•~i~tin~ ~n• li~rnsft~r ere~±~i on the Pro~~- ~~rt~• ~~i~tnr~l ;tgaiust loa~ h}• firc, hazar~l, included «•ithin th~ icrm '`c~tendecl coveragc", vi~i .ucl~ ~?tl~er liazarcis as I.ender uia~• rnyuire :iu~l in ~~~~I~ :?nu~iu~t: and for :ucl~ ~~erind- :i: L~•n~ler u~a}• rcyuirc: pro~•id~yl. thnt T.en~ier ~hall not. require tl~at the nmount oi su~•h ro~•~~ra~e ~scec~l tl~:?t :u~:oimt oC ~•o~~era~e re~~uireci to pa}• the r,iuns secured by r}~i: \tortg:agc. The insurauce ~•arrier ~~ro~•irliur ti~e in~»raucc ~h.?ll L~• ~•hosc~n h}• R~rr~?~~•c•r ~uhject io a~~pro~•~l hv Lender: ,~ru~~i~1c~1, th,?t ~ucli a~ipro~•.~l ~I~zli not i~c unrc:~sonabh• «•ithhcl~l. .111 ~ire~niums on insurancc ~?olicics ~Lall bc paid ~ at Lcnder'~ o~~tion i~? tli~• m:imicr ~~ro~•i~iM! umler i~:?ra~*~:~~~li lu•r~~of ui• h~~ Rorrc?~~•cr ni:ikinr ~~ayment. «I~en due, } ~iirectly to the in~urzncc~ ~•arrier. :111 in~~~ranr•~ ~~~~ii~ie.::?u~l rcmcu~:~l~ tl?~~rcof ~ii:~lt 1~~• i~: iu:~~n a~•~•+•~~t:thir to L~•u~i~•i• :u?~I ~h:il! iur•ludr ~t:~n~lzni uiortgugc c•I:?u~c in fu~-or of :ui~l in fonu :u~ce~?tttl?lc~ tu I.eu~i~~r. I.e-rnl~•r ~h:?ll La~•c~ thc~ rikht to ;~ol~! thr ~?oli~ic~ :tnd rene~val~ tl~ercof.:uui Rorro~c~•r ~h;ili ~n-otn~rtl~• furni~l~ ti~ L~•rnlcr ai) r~~u~•~~•:tl nofi~•e~ anrl all ~rcei~?t~ of paid Pm- niiums. In the e~•~~n+ of lo~~. 13~irro~~-cr ~Ic~l! ~i~•i• ~n•om~~t ~iotic~~ to tl~i• i~i~ur:~m•~~ ~•.u•ri~r :?n~l l.ender. and 1.ender ~ inav inake ~rroof of I~r: ii not nl,i~lc ~~row~~tl~• i?~- 13orro~~•cr- f LTnles.~ Len~icr ::12~! Rorrrn~-er otli~r~~~i~e• a~rr~•c in ~critin~_. in~~n:~n~•~• ?n•oi•ce~l~ ~hall I~c~ a~?~ilicrl to re~tor.ttion or ! re~?air ~?f the i'ro~n•rt~- ~I:uu,i~;t~~l. t~ro~•i~l~~~l ~u~•!~ re•tor:~t~~~u ~n• n•~~;iir i< ~•~•onotui~;tll~• f~;~~ihl~• au~l fl~~• ~ecurit~- oi ~ !his \lortga~c i~ uot tlicrel?}- inn~air~•,l. if ~u~~l? re-to~:ition ~~r rc~~~:iir i~ uM ~~•~mo~ni~~slh• t~a~ihl~ or if th~ ~e~urit~ ~~f this \fortga~;e ~~~ould h~~ in~paire~1.11ic iu~~n-an~•c ~~rocer~i~ ~li:~ll l~i~ :y?~~tie~l to [L~~ ~uiu~ :ecure~i h}- tl~i~ \Iort~age. «~itl~ tl~c c~cc~s. if a~~~~, ~,aici to Rorro~~~cr. If thc 1'ro~~~~rt~• i~ ~L:in~lonc~{ h~• 13orr~~r~~i• or ii Rorro~~•cr fails to res~~ond to I.er.der ~~-iti~in 30 ~iav: after notice h~• I.e~uler to Rorro~s~~r il:.it th~ iu~ni:~ncc ~:u•rier offci:~ to ~ettle a claim far ~ insuraucc l,enefit~, l.crn~lcr i~ :~uthorizc~i to ~•ollc~~r ;uui a~~{~I}- ~1~~• in~n~:~m•c ~~rni•c•erl~ at I.en~ler'~ o~~tion either to ~ restoration or repair of tl« Yro~~ert~~ ~ir to the ~wn~ sec~tre~l I~~• tlii~ \lort~:~ge•. ~ Unless 1.ea~ler .iml 13orro~~•er other~~•i•e a~;rec~ in ~~•riti~?~, an}- ~u~•i~ ap~~li~•ation ut ~rrocec~l~ to princi~~al shall uo~ extend or ~~osll~one tlie iluc ~fale oi th~~ n~onthh• in;iali~nent~ r~•trrn•~1 t~rin ~,ara~;r:~~~!?~ 1:uid 2 hercof or chan~e ~ r he smount of such iu~tallment:. If wi~ier {~ar:zgra~~h l8 liercui thc~ 1'ro~~crk}• i~ :~ryuirc~l I~~- I.~~u~ler. :ill right. titlc• :~n~l intcrc:t of Borro~~•er in :iud to an~- im~u•an~e ~~olicie: :,n~l in :?n~l to tlic ~~m~~c~~l~ t!~rmof ~t~, rlu• ~~xtc•m oi tl~r ~niu: :c~•orc~l i?}- tlii~ ~Iort- - ~~age im~~?c~liat~l~ ~~tior to ~ucli ~al~~ ~r :u•~»i~ition? r~:~iltiu~ fr~~u, ~I:siuse~ to th~• Yr~~~?~•rt~- ~n•in~• i~ thc ~alc or '.~cquisition shall ~r.i~~ to Lender. - ~ 6. Preservation ~d Maintenmzce of Property; Leaseholds; Condominiums. i~orro~~-ci• :~lu~ll kcep the Yro~~- ~ ~ crt~~ in ~~ooci i~epair .u~d si~all not ~~crmit or ~•on~iuif «-aste. im~~airiuci?t, or deterioration of tli~• Yro~~ert~• and sl~all ~•o~u~?IS• ti~•ith tLc ~?ro~•ision~ oi au~• ]cr?~e. if thi~ \Iort~;aK~• i~ ~?n I~•a~ehc~l<1. If tlii~ \Iort~afic i~ on a condominitun ~ ~~nit, Borm«•t~r .~hall ~~criorn~ :?I! of Bon-o~~•cr'• ohli~ation~ i~u~icr th~~ ~1~~~•laraticm of ~omioinini~~u~ or mast~r deed. ~ the hv-la~c~ :~n~! rc~~nl:~tion: of th~• comlo?ninimn ~~rnj~~~t :?n~i ~•on~tit~icnt ~locinucnt~. - : . 7. Proiection of Lender's Securily. Ii Rorro~.-~~r f:?il~ t~+ ;~rrtorru tlic ~•o~•cnanl~ :ui~l :i~;r~riucnts contai»ed in ~ fhis \tortgage, or if nn~' a~~tion or }+ro~eediuc; i~ ~•onnnenre~! «•hicli materialh• a(t'ect• Lendcr's interect in the Prop- ~ erty, ir.~~luding. but not limitc~l to. ~~iniuent domxin. iu~ol~-~•n~•~•. ~•~Nf~• ~•iifor~en?ent. or :irrau~ewcnts or ~~roceed- u~g~ invoh~in~ :1 hankrtt{~t or ~lece~lent. fhcn I.enrler at l.en~l~~f~~~ ~?~~tinn. i~~~on u~tice to Borro~r-er. may make such ~ ,~~~pear~nces, ~1i~l~urse such ~uiu~ ard tske ~ucli :~ction u~ i~ uc~ce~~:tr}- to ~,rote~~t Lcn~ler'~ intere~t. includin~. but not lin~iteri to. ~li~Lur~em~~~~t oi rea~onahl~~ attorne~'~ tee- :~n~l ~~nh•~• »~~on thc 1'roj?crt~• to inake repair~. An~ :?mounts ~lishiirsc~i I.endcr ~~iir~~~ant to thi~ ~~.u•:igra~~li i. ~~~iti~ i~ii~~r~~~t thcreon. ~liall I,ccan~c a~l~litional intlebt- e~iness of Rorro~cer ~eci~re~l I~~- thi~ \Iort~c~Ke. t'n!~~s I~orrot~•e~r an~t L~~n~icr :i~ree to ~~ther tern~~ of ~r?}ment. ~ucl~ amount~ shall hr payal>le u~~on noticc froh? i.cu~ler to Rorro~ccr r~c~u~~tin~; }~aymcnt thercof, ~n~l ~hall bear inter- ~ - est from thc rlatc of ~li~lntr~e~nent at the~ ratc~ ~tat~~~1 in thr \ot~~ m~lc>~ ~~:«•mcnt of interest at such rate ~~•ould be ~ ~ ~•ontrar~• to a~?~~li~ahlc la~~-. in «•hicl~ c~•cnt ~u~l~ :unonnt~ ~!i:ill h~~:ir intcrc=t :it th~~ hifihc:t r:ttc ~~crn~issible br ; :~pplicable ]sn•. \othing ~•ontaine~l in thi~ ~~ar:~gr.?~~li i~h:ii1 r~~~~:iirc !,~•nder 1~~ incnr am- ex~~ense or do any act ~ hereunder. . ° 241 3?2 - BOt~K PAtif ~ ' r~". ~ ~g' ' ~ • I h ~.~^~-'s~- ~,.n~.=~ ~.~,~^e.~,. ..3~'-x _'wh~ 3 _ , ' ~ . s_ ' _ -