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HomeMy WebLinkAbout0749 ltwu~~R?r t~o~tti~Ht~ Bott~w?et •tx! l enJtr .~~.cn~nt •~wl •j~ct (ulkw?a 1. TqMtsM ef rri~ciMl Mi iMereM. kk+rr~~we~ aAaN p~~.mMl! M> when due the pnocipal ot and ~ntcrest u~ ihc ~n~febtedness e•u~tkcd ~ thc N~ac. Mcparmcm a~+.l la~t .har~e. p«w~Jed ~n ~he Nc~e. •nd IAe Rtu+c~pal d~nd m~eres~ 0o anr Future Ad~an.e. ~e.uraf by ~h~• M~xts~e t Rwi fsr TazM ~w/ t~cY. Sub~~ ~c~ apptk,bk IaM .x to a wnuen vra~ver by l.cnder. Sonowsr sMli paY ~a l.en.kr on iAe Ja~ mu~~hly inatalimen~s ~d pnn.~pal and inletc~t arc M~~t+k u~ler tlse Nae. unt~l the N~xe pad m tuli. a sum (here~n "Fuo.b"1 eywl ~o une~tv?e1f~A ~~I ~he ~ea~1r ~a~n anJ a~~cn~men~s wAKh n~aY sui~n p~Kwur over ~hn Mort~ase. an~f ~nwod nnu c•~? ~he Pn,perty. ~t any. plu• ~~e•tr?cU~~ .,1 ~early ~xcmium mstallme~u tor luuard ~nsurance. plu~ one~INelf~h ot ~carl} premium imtallment• 1~~~ m~u~~aje imuran~e ~1 aey. ~II as ntasa?t?ab1Y t~Umate~i inN~all) •n~f ftom hmt t~ Utne b) I.sndcr a? the hasn ~il a~ats~mcnt~ ar?d b~lh aixt rca..•nabk a~~ma~a tlwcrcol Tht Futxl~ shali ht hcW ~n an ~mt~luluM Ihe iie~»~b ~a s:c.~unb ~~f whkh are insured ~x ~uaraMe~1 !+Y ~ Faltral or ~utc a~ency 1 mcludm~ Lende~ l e~x1s~ ~s swh an ~m~~w~~an 1 1 ernk~ +hall sppl~ tht Funds to pr) sa~d ~axa. as~nb. ~nsuran~e pttm~urtt~ snd ~found ren~~ 1 ender ma~ n~N rM<<e lur h..W~n~ aixl appl~~n~ the FuoJ~. an~lY~~n~ s~~d sccount, ~?r ~c~d)~n~ aod axnphn~ ~a~d a~ae~~menh anJ ~xih, unksa l trnfer ~+a~• &~rriwver ~n~eres~ ~,n the Furwh and appf~uMt law perrnits I.erxlet ~o rtu?e ~u~h a charse ~~rr~w?er and 1 enJer m~~ ~Rrce in wnt~n~ a~ ~he ume ol execW~n ot tha Murt~asc that irt~crpt un the FunJs ~lull he paN! ir &?tn•..cr. arxf unk+~ ?wR ajreenxn~ a made or aQpi~aMe ta~r reywres such ~nttres~ he ~ant. 1 rnde~ ~t?all ~~t hc rtywteJ ~o M) ~~rrower ,m in~era~ at eartunp ~ tFte Fur~. i endet sAal! p~e tr &*rrrn?er, withcw~ ch~r~e, an ~nnual ac~.~uniin~ ~~I iht Fu:~.l+ ~h~w?~n= ~tetlUS sn~1 :1tMb to iha' Fu~x1s end tht purp~nt ta~ whk~ cacA JeMi to ~he !-urxis wa+ rnaJc The F?~exf~ arc plnt~cd a+? ~1~1~h~~nal ae~unlp (n~ tAe sums s~uted hy th~, Nort~e It fhc smounl .~t tAe Funds heW b> l c?~.k~ i~~~c~hrr v?~~h the tututt mun~hl~ im~allmenh ~d Fun~ E+a)vbk pth~~ lo thc Jut Ja1es ut ta~es. as~t»men~s. i~»ura~~c ~xem~urm ~naf Kr~wrH1 rcnt~. ~Aa~i e~~ccti1 thc amcwnt rcywrcd ~a p~> ua~d taad. a~~essment~. ~mutan~~e prem~ums and ~round rrm. ~hr} l~tl d~~e. ukh e~~c.~ ~haU be. at K~•r~.iwet's c?~+I~..n. e~ihtr pnxnpU~ ~ep~id ~c Bormv?et .x crcd~~cd ~o &~~rvv?ei ~~n m.~n~hl~ ~n.~.llmci~t~ ~d FutN1s I( tf~ .rriuuni ..t the i~undt heW Ay l rnckr .hall n.N t+e wflicien~ lo pay ~a~c~. s~sc.~menta. ~mu~~ncc prcmwm~ aral ~n+~~nd ren~s n ~l+eY (a!1 due. q.?rr~wre? sMll N~ Io I.crnler an) am~wnl nc~es+~.~. t~. rtuAc up ~1~e ~frfi.~crkt Mithm 30 ~!a)3 I~om IAe Jsit nae~it n ma~kd 1»• l.eotkr tc• Bn?roret reyueshn~ M)men~ thercul Up.~n pa~rt~co~ ~n tull ~+t all sum~ ac.urcd b~ thi. M.•rt~~Ke 1 cndcr ~Aall pr~.mplly rcl~ind ta Harn+v?er ao) Fun~ held hy t cn~kr It utxlet puasraph IR hcrcot thc F`r.~prrt~ v•W ~,r ~hc Nr~,pcr~~ aherv?~.e ~.yu~rcd b~ I erx3et. I.en.kr •hal! ~pply. rx, I~ter Ihan immed~atcl~ pr~ur t~~ Ihc vk ~~t itk Pru~.rn~ .•r us ~:yw~it~on h~ i cndc~. sn~ f=u~Je heW by LenJtr at 1hr t~me ~~t ~pplaai~cx~ a.rrJit a~a+m1 thr sum. .ecure.l h~ ~h~. ~lorl~s~r Aqlkatiow d r~)weots. l nic.+ appl~~ahk lay pr~~.~Jc~ ~•~hrrwi.t. all pa~nxol~ rc~c~+ct1 M 1 c~xkr utalr~ tht ti~+tr ~ru! pat~Rra~+l~. I~nd 2 t?crr~+f .hril hc applia-~) M i cnJrr 6r~t ~n ~+~~mcnt ~~f amuun~s M?+hk ti+ 1 rixkt ~+y &~rrowcr un~irr p~~a~raph : Aere.~(. then tu ~n?crr.~ pa~~bk ~•n tlx ?.~tc itkn ~tx pr~rk~p~l ~,f tfx ?~~ae. +~eJ th.n ~o ~n~eres~ snd prcn~~pai ..n rn~ ~Wutr Ad~ancrs (~ivttes; I.kr?. B.+trov~tr ~h.+ii p~) all ~.111'~. e~K~M1CM~ ~iN! ~~Itx~ .hatKa~ 6nc~ ~~?J un~n~U:~m atlnbutaMt lo t!x Pr~pem ++hich may auam a pr~ori~y ~»er 1h~. ~t~x~~~te. ~nd tcaseh«I~1 pi~mcnt• .~r ~icx~nd rcnta. i1 any. m Iht manllet pru.~Jed un~kr parairaph 2 herea( at ~1 n~N p~~d ~n ~u.h m~rener h~ tk~rr.~NCr m~l,~ng pa~ment. v?hrn dur. JirocUy to tAt pa~ec ~Ircrc.~f Borrov?er ahall prumpll) (urmsh Io 1 cn.kr all r~~t~.c. ~m.wn~+ Jur under thi. para~trsph, and in the eveM &~rrov?er ~??ail n»At p~>mc~~~ J~re.U~. H~~~~~,.+rr .haU prumptl~ turni,h Ir LrnJrr tc.r~pt~ r~~Jrrwm~ su?h psyments HurruMer .hail pnsmptly J~.ch~rrc any i~rn Nh~.h his pr~~~r~t~ ~~.c~ ~hi. Murt~agc. pru.~~kd. ~b.+~ H~~rmwer .hal) na be reqwrcd Iu d~kharRc an~ +u~h l~rn u~ I.~n~ H.~tru+~?tr ?h~ll ~R~rc ~n r~~t~riR 1~~ Ihc pay~nent ~,1 IAt ~+hhR~INm ~tiuted by .u:h lit~ ia a m~nntr a«eptabk I endec. ~~r .h~it rn K~tr1 f~~~h ..~n~e.~ .~~ch iK~i h~. ~,r .kten.l ent~,tcrn~nt ot suc~ I~M ieY~l pr~sccd~nR. Wh~~h upcr~tc t., ptc~cn: thc cnt„rar~~?rr~t ..t thr i~~r. ~•r turtt~turc .?f Iht 1't.~pcrt~ ur an~ parl Il~ertof. S. Natatd Iwwrsw~s. N.,tr.~wr~ .hall Accp ~hc ~m~~r~~.cmr~~t. n~•v. r~i.~mR ,•r t?crr~l~cr rrr.tcJ ~m ttx Pr~~pcrtY ~m~rtd ak~~ntt h~ flrc. hatarJ. in.lu~kJ M~~h~n thc tcrm r.trnJrJ .~~.rragr ~nd ~~~.A ~~tAer hstatJ. a~ I cr~de~ m~) ?eyu~rt ~n~t m~a.h ~na~unt~ ~~d l~+r ~u.h pcn.Kl. I rnck~ n~~> ?cy~nrr. {~r~~~~~lc.l, th~t i cn.kr .half n.a rcyu~rc tha~ iAc am.aint o! ~uah .a~cra~r e~cert! th~t am~~unl ~+f ~~~~rra~c rcyu~rrd 1.~ t1x ,urn. .c~uird h~ tA~~ ~i~?rt~alte ~Tre ~n~uran.e .arner ptuv~d~n~ the in.urrn.e .h~fl he ~h~~.er~ hy Hurr~~wcr ~ubject Ic~ ay~?ro~ai h~ ( tnJer, prov~d, tAa~ ~~kh app<<~•al .hali n~» !+e unrra..~n,shh ..uhheld 1~i prrn?~um. ~~n ~n+u~~~ke p.~iKrc+ ~hall hr ra~d m Ihc manne~ prw~~ed urxkr p~r.~u~+h 2 hcrc.d vr. ~t n~N p.~:d in .s?.h maniKr. h~ ~*rruv?et mal~~n~ paYment. when due. d~rertly Io the imur~o:t :ur~ct All tnsuranie ~?I~.~c. anJ rcncv.~l+ Uxrr~~t .h~it tx ~n lurm ~.~r~~~.~hic tu I rn.lci anJ ~h•II ~n~I~~Jc a.t~n.l+rd murltaat .lau~e in (av~~r uI and ~n t~,tm a~.cptrhk t~• t cn~kr ! r~}Jrr .hali ha.c ttx nAht t.~ h~~id ~hc p.~l~.~r, en~! rcncMah thertof. ~na! Bc~rr.~wer ch.ll pr~•mpU~ (~~rn~sh I cndtt •II fCfit'M,iI nrt~.r+ and .~I! rcicipla ul ~+~~d prc?n~i~nz. In Ihr r~cni ol bas. Ei.~rtuv?sr .h~ll E~.e pr~m~pt niN~ce t~~ the ~muran.e ~a~rier •rx1 1 e:iJer 1 cnJzr :~i~~ maAc pr~wt ~~t {.n+ ~t nr~ m~Jt p~c~mpfi) h~ &~rruwtr l~nieti 1 tn.kr and B~~rt.~Nrr t~{~K'IM~~ ~Krrr u~ wt~l+n~t ~n.ur~n.e ~ r.src.~. ~h~li t~c ~ppl~cd tr rcN~~t~la~r~ c~t ttPait o~ , 1l1C {~ltl~ft~ i~Jflld~jt~) ~~~~1i~kJ Ni~~i (l'~Iu(ili~~fl It~JIf C~~+~~aHilt~i~~~ (l'dHh~t JtH~ t~1C Killfil) p( ~~l{? M~rtg~C H n~~~ ihcrtt~+ ~mpa~rrJ I} .~kh rc.1„t~l,~m ur rcpau ia rF.,~ .v=~n.~nu..:ll? Ir~~ihk ~~t ~t ~he ~c~uril~ ~i/ thn M~•rt~a~e wouW tx ~mp•tred thc +muranct pr.kceJ, ~is~ll t+e ~pplerd tr the .um. .c.urrJ h~ ihn N~~ng.ge ~~th Ihe cacc~s. H:ny. pad t„ &~rr.~~?~r II ihc Pr+,~rt~ .~h~nJ,~ncd h~ W~r:uwer rr ~t li.~rr~~~?cr i.+~h i„ tn~~nd tt~ 1 enJtr M~th~n ~O days Itum /11e ~ ;1.?tc riut~.r n~~~ird M l.sudet liurc~•wrr th~t tIx ~nwr..n~r .+rr~r~ ~~tfet~ ~cttic ~.ia~m (u• ~n+utan~c haxfits. I.tnciet ` rulM~riieJ t,~ .~~Ue~i ~nd apph Iht u~.ur~n.c ~~r.~ccJ~ rt 1 rnJar ~„p~~.~n ttlhet l~~ re+t.u~Uun .~r rtF+au ol lht PtupeR) ` ;~r t~~ thr wn~. ,c.u~tJ F.~ th~> >iwlKa~c l;nic~~ 1 cnik~-and N.~tt~~rer ~•theM~~r .~~icr ~n ~.~~t:ng. a~~ ~~i~ir ~ppl~.atam „f pt~artd~ Io pr~r~~p~l ~Asll ne~l t~tend K ~.r p.ylp.~nt thc J~rc ~i~lr ~,f ~hr nn~n~his in~t~limrnl. ~ric~rrd i~~ r~: par~Rr.ph, I~~~.) ~ hcrc.d ur .hrr~~t ;~~e amuun~ ul ` ~u.h ~ml~Untcnl~ 11 u~~Jtt p~l~~tt~ph 1!i herea~l Ihc f't~=pert~ e~ •.yu~icd h? I.trxltr. ~il r~~ht. ~~tk arxi ~nttttsi o~ Bot«wvt? ¢ ~n .~ne1 to ~n~ inuu~n.e pid~~~es ~t?a) tn anJ t~• ttM `r..~caJ. ~hrtc,~l ic~ult~ng Ir~~m J~mr~c !t~ Ihe Pr~?ptrt) ~?r~ut !o the sak ut a~yu~att~un ~hall ~u» 1~. l cn~Stt ~i~ Ihc tttcut ~~1 tht wtm x.ur~J h~ Ih~~ ~1.~t1Ya~ ~mtnc+l~ilrl) ~?rw~ l~+ ~uCh sak ot ; a.yu~s~iK~n 6. rrtstr.~liuw rod ~t~a~enywat o! t~o~ert~: 1 ea.~M~IA+: l unduea~nr~ina; Plseae~ l wil Ik~e{o~w~~b. Korrowet ,h~li ?ccp ~Fx Pr~•~+cr~~ ~n ~~r.t1 r~~F•~r a~x! ~hsll tr~t ..,mmn K~.tr :~r pcrrn~t ~mp~~rmcnl ot ~icicrKirauon ol the ProQerty - arid ~h.tl .~~mpl~ M~lh thc pru~~.~~~ns u! ?n} ka+e ~t th~. ~i.~r~K.~Qc ~,r~ ~ ir~~ch~~id (t th~~ NuttQaRe is .m a un~t ~n a .unJ.rmu:ium ~n • planexd un~1 .k~cL~pmem. $un~•Mer ~t?~Ii fvrrt.~~rn •II .+1 &~rt~~wrr s~~t~li`~Ui~ns uritlet tht ~itclatattun :~i .u~cu~nt~ .rratin~ ur gu?ctnin~ Ihc .uud~~m~nium ~x pl~nn~J un~t Jc~cl~~p~un~. thc b~-lawi and reaulalu?m d Iht .~~nJ~~nuiuum ~,r pl~nncJ um~ ~tc~cl+~~mtm. rnd .~~mlil~xnt ~l~wunxnt. If a~unJumunum o~ pt~nned un~1 ~k~clopment n.lcr ~as.u~cd h~ E3.~ttvNcr ~nd re.~+ttkJ t~~~c~htt v.ith Ih~. Mrrigagt, thc .i~ticn~nt~ •tx! •~rcctncnts ii( u?ch nclet ?hal) bt ~r?~ut~x~talcd inl~~ •nd ~h~ll .mcnd •nil wpplct~zcrtt tht ~+~~tnanl~ anJ ?~rccmcnlf ~~f Ih~~ Muti`a~e at ~I tht ttJct Actc a p~rt hcr~( = 7. rroleet~ow d I.ewdt~'s Snwrity. II H~~n~~~cr t~~l. n~ ~+rrt„rm the :~~vc~.nn and a~teemcnts ~emt~t~ncd i~ th~• M~n~.~c. ~,r .n~ a.~~~ui ,~r pro.rcJ~ne r. .~~nmirn.r.l Mh~~h m,~cnall~ •flc.ia 1 cr?.kr s intetc~l ~n ~he Ptupert~. in~lud~ng hu1 n~~~ I~m~~cd iv rmu~cnt d.~m.~n uti.«~I.crk~ ..~cic rnl.~rtcmcnl. ~~r a~ran~ementti cx pn+?cedmp ~nvol~m~ a hankruM ur dc.~Jent ihcn ! c~~.icr a~ 1 en.fer'. .~~st~~~n up~m nut~~e t~~ K~•rrov~er. ma~ n~ake stxh appear~nces. J~shune such ` wm~ •nd taAc su~h ~.u.m i~ nc~c..ar~ t~~ p:,,te.t ! endci"? ~nicresl. ~Ml~~d~n~. Aut roM hm~ted in. d~.buntmt~t a! ~ teawnahk stwme~~. Ice~ ar~d er.~ry u~xm tt?t Prupc~t~ tn m~?e rep~~n If Lerxler reyuued mcul~ase ~n~utat?ct u a ~unJ~~~nn ul mai~~r~ tl?c loan rc~urcJ M ~h~a M~~n~~~e. &~rr~~MCr chall ~+ay ~he prem~ums reqwral ~o ma~ntam ?uch ~ ~nsur~nce ~n tfltct ~~nuf ~u~h tirtx a~ ~he te~~uremem (ut uxh mwranrt tetmin~tt~ ~n ac~ord~~t w~tA Botn?wt~s and r Jv • r i ~tilJ = , ~ 744 ~ ~ j ~ _ ~ _ _ : -