HomeMy WebLinkAbout0457 Lct~Jcr'~ ~~rii~~~~ r. ~i~<<;t r•r ;~;•l~..:t~l~• L:~v. i'~,~t~ .~.~i .!~,,ti Ih~ :,u~. :~t~l ;~II tnnrtc.~,c in~at:in~~. pt~•tr.i:::~t~ in
m.~niiri ~~~u•:u1~~1 i~:,.tc~ ~•::~.~_~.,~•li hr.r~~f.
An)' a~n.~~uit~ ,;•~..1 I~..,.~ct ~~::n~t.~:;l t.~ il~i, ~•.~!.~p~r.~~~h 7. ~~~Ih i~~lcr~~t lhrrr,~n. ~h:tii hcCt~tr.c :t.'•!:~:~~~~.:I
in~lrh'rdnc.~ ~~t li~~rrn.+rr ~r,::t~•~1 h~ Ihi~ \1.uI~.+~;r. t'n!r-n Ifr~r.~~+~r an~l I rtt~!c~ :~~:r~C tr ~,li,r~ Irrmti af paymriil. ~.~rch
am~~tii~tc .hall !x ~.ar.ih}r i.,~,~:t ti.c fmm I cn~}~~~ t.~ R.~~:~~~~rr iryue.tin~ {~.~~'mcnt ih~~c~~L :in~1 ~h :ll 1x~:tr intrre~t fn~ru Ihc
.I:~tc of di.hur~cm~~nt at th~ r.~t~ ~+a~•.ihlr f~~~m tinu: t~+ tim~~ ~•n a+tstandin~ princip:~l undcr thc Note unlc~c pay~ncnt of
ii~trrr~t at .ilch r:?tc ~~.~ri~~! he crat~.~rc t~~ :~pE.li~ahlr la~~•, in ~~hi~l~ c~~cnt ~i~ch :~m~~tuits ~1?;~11 F~:~r imcrcct :d thc hiFf~c~t r:~tc .
pc~missihlr w~dr~:~~~;~li,:,t,l: 1;~... \,~i~u~~~: c.~MaincJ in Ihi. rar.,~r.~rh 7~I~:~il ~ryuirc Lcnd~r to iiirur a~~y c~~~~;~~c .~r t:.i:.:
.~n}• aclirn fi~rcitnder.
S. In~pactiun. I.cn~lrr m:~~ m.~kr :•r rau:c to be ma~lr rrason:,blc cntrirc nrun and im~xctic~m ~d~ thc Pmpcrty. ~uuv;dcJ
th:it I.eiidcr ~hall ~i~c B,~rro~~•rr sx~ti~c pri~~r to any surh in.~~cction <<kcif~ing rcasonabic cau~c thercfor ~clat~d to I.endcr's
intrrcst in thc Pmix rty.
9. Ctindrinnalion. "Th~ pr.~~r~d~ uf an~• a.~:~rd or :laim frr il,~macr;, ~iircct or c~~n.~yuc;ilial. in connccii~n ~vith an}•
condemnati~~n ~,r other tal.ing .~f th~ Pr.~pr~ty. or p~r~ th~rc~,f. rr for c~~n~•c~ance in lieu of rondem:i:~tion. arc he:eh~ a«i;~ned
antl shall hc paid to T cnd~r.
In the c~•cnt of :e tot.~l ta{,i:,G of the Pr~~rc~~y. th~ pr~,recdc ~hall t~ :~~rlied to the sums sccnred by ~hi~ \forlga~.•,
tvilh the e~~e.s. if ant'• r.~i~l i.~ R~rr~~~~rr. In thc ~venl ~~f a f~artial t:iki~:g uf the Yro{~erty. nnlec~ Rorru~.,ci :~n~l I.erntrr
o?herwicc agr~c in a•r~tinc. tlirrc ~h;,ll I+c :~pplicd to thc cu~,~c s~cur~.i hy thi~ Ai~rt~ar~c such ~roportion ~~f tL•c ~~~~.~i.
:ss is equal to that ~r~~~ ortic~ii ~~hicl~ t1~c :uu~~unt of thc ,umt .crnrc~l hy thiti \~c.rtFage immedi:ilcl~• ~sior to thc J.?tc o(
tal~ing hcar~ to tfic fair markrt .~~Iuc oi thc Pro~crty iminrJi:~trl~• pri~~r to th~ J.~le of t~king. ~~•ith thc h~lancc of the r:ck«Js
paid to B~rro~+•er.
If thc Pmix:rt}• it ahand.~nec1 hr B~~rroa•~r. ~r if. aft~r n.~tice by I.ender~o Bormw•cr that the rnndemnor oiT~rs to maf:e
an :~w•ard or ~cttTc a cl;,iiii f.~r Ja~:r~gc;, R~rro.?~cr f:iih t~. respond to Lendcr within 30 days aftcr thc datc such no7icc ic
mailed. Lr~der is authorized to cnllect and •rpply Ihe proceeds, at I_ender's option, either to restoration ~~r mp~ir of the
Pro~rt~• t?r to the sum: .~currd h~• this ~tortga;c.
Unlrcc Le~der and Bc~rro~+:r other~.i~e agr~e in ~~riti~ze. an~• such arplic:,ti~n nf procee~s to principal sh~l) not ertend
ur pcxtpone thc due d;~te of tfi~ m~nthl~~ inst:,llmcnts rcfernd to in para~raphs 1 and 2 hercof or change thc amount of
such instaltments.
10. BorroNer \ot Rrleased. [=~tensi~~n of the time f~r p:iyment or modification of amortization of ihe sums secured
by this ht~rtgaEC granted h~' I_cn:lcr t~, am• wcce~te•r in intrrcst of Borro~~er shall not operate to release, in any manner,
the Iiabilily of thc ori~inc~l Borm~.er and Borrow~er s tncres.orc in iMere~t. I.ender shall not be reqi~ired to commznee
proceedines a~ainst ~uch ~ucce~s~r or refuce to er~eiid time for pa~•ment or otherw•ise modify amortization uf the sums
secured by this ~iortcaze h}• reacc,n of :?ny dem~nd made by the or.Qinal B~rrow•er and Borrow-er's succesc~rs in interest.
11. Farbearance h~• Crndrr \ot a R'ai~•er. Any f~nc~arance b}~ I.~nder in e~erc6sing an}~ right or remed~ hercimder, or
otherwise attordeJ b~• applicable l:~w. .hall not l~e ~ wai~-rr of ~•r preclud~ the erercise of any such right or remedy.
The procurement nf ir.wrance or the pa~~mcnt of ta~rs or other li~ns or char~t~s b}' I_ender shall not be a N~aiver of I_ender s
right to acrelerate thz maturit~~ ~f the indehtednesc ~ec!ind M• thit ?ltortga~. _ ~
12. Remedies Cumulatice. A!I reme:iics rr~~.ided in tliis \tort~age sre distin:l anJ cumuiati~•e to any other riLht .~r
-emed}• einc;er this ?lio,t_za~e ~r ~TZ,~rded h~• la«• c~r equi~~~_ ;~nd ma}• tx: e~erci.rd e~neurrently. inclrpendently or s~~cce~~i~•rly.
13. Succe~cors and _15~ikns Boand: .foint and Sr~er.el i.iabilih; ('aptions. The covenanis :~nd agreemenic hi_r~in
c~~maincd shall bind. ~md the ri^h:> hereunder shall ini~re to. the rec~x:cti.e ~ucce.~ors and as~i~nc of Cender and P,~~rrower. _
subject to :he pro~~ision; ~f ;.ar::~_raph 17 hereof. :~ll co~tn:+nts and aereemc~tc of Borro~~•er ~hall be joint and ~e~•eral.
"(he c:+ptioni anJ heac}ins: ~f the raragraph~ c•f this ;~i~~rteage are f~r comenience only snd are not to he u~ed to
inlerpret o~ define the nro~-iciom hereof. ,
14. \otice. Except fe~r a~}' notice required under a, plicablc la~v to be given in another manner, (a) any natice to
R~rrc•~~•er Fm~•ided for in this ~t~~rtgage Shall h~: givcn b}' mailine ~uch notice hy certified mail addressed to Borro~~er st
thc Pr~~rty A~idre:~ ~r .it cu.h .~thrr addrr.c ~s B.~rn~~~~rr m;+~~ decignatc b~ nMice to T cnc!cr as pro~idcd hcrcin. and
{h) am- m~tice to Le:~der ~h~ll he 2i~en h~• certiti~d mail. r~turn receipt req~e~ted_ to Lenders address stated hercin ~~r to
sach other addresi as Lendcr ma~ dr~i~nate b}• n~~ti~e tu B~rro~~er as pm~•ided herein_ :~ny nniice provided for in this
' ~tort~age sh:,il tx: deemcd tu ha.e h~en~Ci.e:i to Bor~oµrr o~ I.rnder ~?hen ~i~~cn in ~he manner d~tiignated herein. ,
i 1~. Cniform tt~~rl~a~c; Gmernin~~ La«: Severabilit}~. This fc~rm of m~r~~a~e c~mbincs uniform co~enants tor natio~:il
; u;c :,~d n~n-unifo~m c~~~~~~~nt: ~+ith tir.;itrJ ~ariation~ h~• juri,.iiction to constitutc a uniform secu:ity instrnnunt coverir,g
real prc~cr!y. Thit ~1~rt~::;:- cti~'! Fx ~,,~~~~rned h~• ~he la.. of the juritdict:~n in which the Property is located. 1n tLe
{ event that any ~rmisi.~-i ~~r .~su~L rf thi~ ~1~rtga_,e ~~r .he \~te c~nilicts ~~ith applicable la~~~, such conflict s}iall nol :;ffect
~ ~~sher pro~~i.i~n~ oF t`~:: I~S.~rtg:,~~c ~~r ttie \c~t~ ~~hich can he giren e(Tect without the conflicting proei~ion, :+rd to this
` end the r7A~'I~I(~i1S O( 1I1C R1~rtga~e and tne \oic are .i~c~ered to he se~•erablc.
' 16. Borrower s Cop~~. Born~~.ti~er ~hall b~ furni~hr~l a conformed c~py af the Note ancl ~f this Alortgage :it the time
~ of cxecution or after r~~orda!i~n hcreof_
~ l7. Transfer uf the Propert~; ~«umption. If all cr am~ p:~rt of thc Pmpcrty or an intere~t therein is sold or tran~fcrr~d
~ by Borro~:~r ~itha;it CenJer's prior ~~rittrn cunsent. e~cluding (al the crestion of a tien or encumbrance sub~rclina,e to
~ this ~io~t¢ace. (b) the crcat;oh of :t purch~>e m~ney ~ecurisc interest f~r household appliunces. (e) a transfer h: de~•i>e,
~ deccent o.- h}' oprration ~~f i.,•.c i:po~ the de:?th ~~f a jciir~t tcnant ~r (d) the ~rant ~f any Ieaseho~d interest of three }~ea~s ~r Iess
~ not c~nia:ning an opti~n to ~urch.i~e. I_end~r ma~•, at l.~nder'~ option, declare all the sums secured by this :ltortga~e io he
~ imme~fiateh• due and pa~ah'e. Len~er shall ha~c ~~ai~•ed wch opti~~n to accelerate if, prior to the ~ale or tran~fer. T_rr~ er ;
~ and t!:e ~er.on to ~•hom thc °ro~crt~• i; tn he sof.l c•r trai~sfrrred r~ach a;reenient in ~criti:ig that the credit of such rers~n :
is satisfacton• to Len~er ::nc~ that tz~ in~rrr•t ra~~ahle r.r, t'~e sums ~ecu:ed h~ this Mort~a~e shall he at snch ratc as i_er~ir.r ;
~ ~hall request. lf I_en.k: has ~~::i~C:} IF1C ~~rti.~n Io acceler;~te prot'ided in thic paragraph 17, and if Horrow~er~ success.~r ;
; i«tcrect ha. e~ecut.d a~~rictrn as•;;;,;~;ion : n.reemcnt a.cci~trd in ~tiriting hy I_endcr, Len.~Icr ~hail rcle.,se Borro~+rr frem :~?I
ohli~-r.;innc unJcr thi~ ?~Snrt~a:e and thc ~1otc. '
~ lf (.end~r e~cr:i~~ti tt:ch o; :ie~n t~i accrler.~te. l.cr,~!cr ~h::ll m.+il i3~r:.~«er nMice ~f :~creteration in accord~rc: ~~ith `
~ ~ ar~cra~h 14 hrre,~;. Such n:~ti_-e ~'~.,Il ~~ocidc a~:•:i.~d ~~f r~nt Ics~ tha~i~30 da)•s fmm the date the notice ic mailed wi;`:in
~ ~.hich Bnrr«wcr m:~~ ,zsc t~;e ~i;n:~ dccl.ir«t d~~r. If E3~•i-~.~,~r f:+ils to r:sy ~c;ch ~nms rrii r t~ thc ~~pir:~ti~~n of ~uch ~~cri~~d.
~_COC~cf I71:~1'. ~a1fI1~~U~ ~11i1~Cf i~~~lii~ .}~•(ltii:ll~ ttn F{~~It.~`.tiCi, Itl~'(~4.C 1fl)" ~Cf1lCd(CS ~iRtIl1C:I f)}' rai0oi3~1I1 ~4 jll'fCOf.
~~-r':-L'~!t~~N~t (~v~f ~+~ls P,rrrr:.~r :tnJ ! c~u!rr fts:~:~cr c~~cn.~«t anJ agtcc as foilo~r~s:
's 18. Acerleraiion; Remediec. I:ace[st :v5 pr~?~idrd in para~raph 1? here~f, upon Isorrovsers breach af any eo~en:;nt ar
- a;;rer~aiNnt uf Rorroµer in Ihi, \tort~~a~~e, indudi~:ti 1l~e cu.enani, to pa~• Khrn due an~• sumc cecured b}' this ;liort~a~;e. t.e~:drr
~ prior fv accelcralion sha~I ~nai) nutire to Rorm~.rr as pro~ided in para~raph 1~ hereuf specefyin~: {1) the breach; (Z) the aciiun
k re~juirea~ f~ enr~ such bre:+cb: (3) ~'.,te, uot iess Ihan ?11 day, (rom the date Ilte notece is mailed fo Borrower. 6}~ Khic'~ •e~eti
~ brr.ich rnu~t be cured: and 1~) t!~:+t faiture to cure .ach hreach on or before Ihe date specired in the nolice may resu?t in
_ acceTerati~~n oC ~hc ~e~ms seco.ed li~ th~c ~furl~a~;r, fure~locure by j~~diciat proceedin~ and cale of tfie Property. The rtotice
~haH furtl~er inform R~~rroKrr of the ri~fit lo rcinstate afi~r accrlerstion and tbe right to asceri in the foreclosure pr~ceedi~:„
= 1he mtin-c~_i.tence ~~P de~:~u!t ur .~~c ~~t;icr defc~i~c nf Hu~ru.at~r lo :~crclrraliu:~ ar~d f.~reclosure. (f Ihe breach is ttc,t tur. r t
~ ur bcforc Ihc date ~pc~itic~~i in ~hc nvii~ c. l.cndcr at [.cn;;•_ r'c upti~~:~ m:n declare all ui tl~e sums ~ecorcd b~~ ihis Stort,•a~c t~, f,r
ilitttti•/Iia1cl~' ~IU~• and N:i~al~lc v i;lu,u1 [ur.Fer dcmand :;nd m:~ (~~rcclu~c 16i~ 1t~rt~;a~c b}~ juoici:.l procerdin~. t.cndcr ~i: _'1
~ 1?e eolit}ed tn c+~lte~t in •.uch p:~xrr~iin;; aH e~penses nf fni.il~~.nr~, includin~, i~ut nut limiled to, reawnable alto?ney'c feec.
~
~ and cucf. uf J~e~intrnlar~ i•~irlencc. aL.tract~ and Iilfc n•purte. ;
i9. I;nrroKCr's Ri••:~t tu Ftein~t:.:c. ~,~r~.ith.t: s,~i:,,• I~n~':er's a~.+~tcr.,;;rn of thc sum~ >ccurcd by this ~t:•t:~:.:~:c. ~
~ 1;::i~UU~'~ 21.,~~~ ;~~}1S t~ f:..~-c .•~i,~ }~::u,~i~~~~:lL~ I•l','11t1 ~i: ~ C~II{Cf 1~.~ i:~~f~~fiC 1t11S ~it~(ff::IRI' di~a~ntinucd at :,r~c t:!1'i ~
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~ F r c 12~ PACE ~
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