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HomeMy WebLinkAbout0102 , ~ ~~I.~I. Ill Ut•1~'1 ~;IUiI' IUII\ IV (~I.~I~:I I~IC .~~11111\ :~1~~ IIN~II,L'eCl' Il~l' Iu~~11~.~,L'.~1 I~~L'C1~~CI N1111 .~11~1111 .u1~~~1~~41 t~~ 1~~~• itiu11I~11\ r.~~ IUl'lll. ~nt.1r~ Iha• Ir1i;1. ~~1 111r n.~lr .r.u1rJ hr~ch~ un tl~a• h~,t ~i.~~ ut c.~.li nw1~11~ ulilil Ihr ..~Id 1!uli tUll~ ~,.~1~1 ~ull p.~~ h~ I?~r u1.~tIE.~.L'tt• thi 1„Uuw ~u,• .u~n. - \n.~ni~~uut .ulh.ic~u I~~ ~a~.~nlr Ihr h.~IJr~ hrir~~t ~~~Ih tuii.l. 1~~ p.~~ Ihc n~•~t n~u~l~.~~r ~n.w.~n.r ptrnuuni ~I ihi. unli~iinrnl .~ii~l Ihc m~t~• ~..wrd hr~~h~ .ur in.iu~~.l ..i m.~ulhl~ :h.~icr ~in liru ~~I iA~~it}.~~~ ~n.ur.~n.r p~rm~u~u? ~t tl~c~ .+~n c~l~l l.~ Iha 1r:~r1.~r~ . 11uu.inp .u1~1 l ~h.~n Ik'~a'I~~pmcni .n (.~Uu~~ ~ 11~ 1( .~nJ I,m~ .n .,~~J aulr ut r~cn ~1.~Ir .mJ Ihn m.truntrnl .uc ~n.uirJ ~~i .~~r ~r~n.uirJ un.lrr Iha' p~u~nn~n. ul ~h~ ~~~u~,n.~l I~uu.inc \~1. an .~nwunl wlh: irnl 1~~ .~::umuL~~r m thr h.~u.h al ihr h~~lda i~~nr ~ I~ munlh pn~~i 1„ H. Jur ~I.dc thr .innu.J muit • c.~~~ i~:~uten~~ pirmium. ui u~Jri 1~~ pr~~~iJr .urh h~~IJrr a~ih fun.l, tu p.~~ .uih prriiuum tu ih~• \r:irl.u) Il~~u.~n~ .~n~I t ~h.~n Ik~rl~~pmrnt pui.u.~ni ~a Ihc \.~u~~n.~i ll~~u~~n~ \i1. a. emrn~l.J .~~~J.ippli:.~hk Rrcui.~hun.lhr~rundrr. ui Ilit II .utd lune ..ud nutr ut a~rn d:~lr .~n~l Ihi. m.Irumrnl .~rr hrld M Ihr 1~•.~rt.u) u( {luu.~u~::uul l ~h.~n Ik~rlupntrnl m~mlhh ~h.u~r i~n liru ~d a m..nc.~~r ~n.u~.~n.r p~rnnuroi ~~h~ch .h.dl Ix• ~n :m .~muunt ryu.~l ~u ~~nr-INrIfIh ~ 1'1'~ u( ~~nc h.Jf ~ 1'1 M~ .riuum at thr .~~~~.~cr ~~ui.tandin~ h.d.ui.r :lur .~n ~ha• n.~~r .~~mpu~rd c~uh~~ut t.iAin~ u~~~~.~~.uunl Jrh~~yurncrc. u~ . prrp.~~mant.. il+i \.uni ryu.J 1~~ thr ~ruun~l ~rut.. J.u~~. nr~t Jui. plu. Ihr ~rrm~um. Ih:~t ~~~U nr~l tk•..~mr ~lur .~n.l p.~~.~hk ~~t: ,-.~~h.ir. ~~t hrr anJ - ~•~h.~ h:v.~~J in,ur,~nra :u~rr~n~: lh~ m.~~l~:.~~r~l p~ur.•~~~ . ~i~„ t.~~r. .~n.l .~..r..mrnt. nr~t Jur.~n Ihr mui~~a~rd piuprrl~ I.JI r•ti- m:~irJ h~ It~r :iu,~t~;:~~rr~ k•. .JI .um..cl~r:~J~ p.uJ ihrrr(~~r ~Ii~~drJ h~ thr i~umhrr m~a~lh. t~~ rl.~p.r ha(.~rr ~~nr m~~ntl~ pra~r 1~~ Ih~ J:~ir ~~hrn .u:h ~:tuund rrnt.. prcmium.. end a.~~..mrnh ~~II i.~:umr Jriiityurnt. w~h .um.1u F+~ hrld 1.~ mun~:a~:rr in ~ru,t h• p.~~ .;~iJ ~r.~unJ rrm.. prrm~um.. t.~~r. .u~J.pc:~.~l .~..~..mrn~._.~nd i: ~ \II p.~~ ~iirnt. menU„nrd ~n ih~ twu prr.r.hnt.uh.r~ u.~n...f Ihi. p.~r.~c~.~ph .~n.l .~11 p.~~ mrnl. tu hr m.~dr unJrr Ihr nutr .riuird hrir h~ .h.~ll ht addrJ i„Lr~hr~ :~n.l ihr :~?:~:rr~.dr em,~unl 1hr~ruf .h,Jl t+r p.~~J h~ Iha murl~.~t.~r r.~. h m.~nth in .u~~ir p.~~ mrnt tu t.~ .~p. pli~d h~ ~hr murlti:~c~r 1~~ Ih~ fuiluti ~ng ~Irm. ~n Ihr u~~lrr .r~ f~~nh. ~1~ p~rmium:h.u~c. un.lrr ~h~ :unlr.~:l al m.ur.~n:c Nhh thr ~c:~ri.~n H~•u.inc.u~d l rh:u~ Ik~a•I~~pmint. oi m.rolhh .her~r ~~~i liru mur1~.:~~:r ~n.ur:incr prrmiuml. a. tFx r:~.r ma> F~r. ~ 11~ cn~unJ rrn~.. ta~e.. :~..r..mrn~.. tirc. .~n.l.~thrr h:~i.~r~l h~.ur.~ncr prrm~um.: i I11 uitrra.t ~~n thr nulr .r:urrJ hrrrh~ :.~nd il\ ?:~m~~~~ii:~~iun u( ~h. ~rin~~p.~l uf .:uJ n~~lr - An~ .li ti:~rnc~ ~n ttk :~muunt u( wch a~~:rr~.dr munthh p:~y mrnt ,h:Jl. unl~.. maJr c~H~J M thr nu~rli.~~:ur pn~~r 1~~ 1Fk Jur delr th~ ~1 .u~h pa~manl. iun.lipilr.tn ~~~nl uf drl:u~ll undrr Ih~~ murt~a~~. Ih~ nturlg:~e« nta) ~u1k~1 "I.il~ ih:~r?;r n~a ~ar~crrd ~H~~:~nt.1`~~ (ur r:~:h il.+l~ar 1~11 uf a.~ch p:~~ mr+i1 r:ure Ihan liftc~n 11t1 Ja). in arrear. n, ~o~~r Ihr ~~u:~ r~~m~ imul.rJ ~n h.inJlin~ Jc6nyuro~ p.~)m~m. . lha! if Ih~ luGd ut !h~ pa)m~nh m:iJr M thr tnutlta~:ut tmd~r IM p:~r.~~r.~ph prtcrd~oL ~h:~il ~~~t~d th~ amuunl Ihe p.~)mrm. a:w.dl~ maJr h~ Ih~ m~~rt~:agrr. tur c~uun.l renl.. ~:~~r. end a..r..mrn~. anJ ~n.uranr~ p~rnuum.. .n Ih~ :.~.r m.s~ hr. .u.h e~~r.. ii th~ luan i~ ~ urr~•nt. .~t th~~ option o( th~• nu~rtt:~,or. ~hall. ~•~~•dit~•J un .uL.~que•nt paym~~nt. ~o Lr m~J~ t~p th~~ ~m~rtK.+Fur. or rc(uadcd to th~• iuort~aRor. I(, ho~.~~rr. ~h~ monthh~ p.~ymrnt~ n~.~dr l~~ th~~ mortK.~Kor unJer {6) o( paiaKraph 2 pm~•~din~ tihall not bf• su[ficicnl to p:~~ eroumi rt•nt~, tax~•~ and a.~~.~ment. and in.ur,in~~~• pr~mium., ~h~ ~~asi• m:n~ b~. ~.h~n ~h~ ~um~• :hall h~~~ome Jue ~nd pay- .~LI~~. ~hrn thc~ mortr.~,or .h.~ll p.e.~ ~o th~• mun~,aKe~ :in1' .uu~~unt n~•~•~~~~arv ~n ~uak~~ up th~• drtic-ie•n~y. on or Lefor~ the da~e whe~ p:n•mrnl o( .u~h ~round re~nt~. .~..~•s.mi~nt.. or in.uran~ pr~mium~ .h.~ll L~~ du~~_ U.~t any tim~ th~• mortKa~or shall tcndeec to thr mort;:.~~~~ in :~~•i•~~rdan~•~• N ith th~• provi~ion. u( ~h~ m~~~~ ~~•~~un•d h~mbv. (ull paym~nt of the• ~•ntir~ indebtedneti~ re~?rc~~nt- e•d ~h~•r~hv. Ih~~ ~no~~Ka;.~~~• ~hall. iu ~ omputink ~hc amount uf wch indoM~•~i»~,,. ~~~~~a~< th~ :+~-rount o( ~he mott~~Or all pacmFnts m:~d~• und~•r lh~• prn~i.ion. o( (e) ot par.?~raph '2 h~•r~•o( ~hi~•h th~• m~~rt~aKrr h.~~ nnt L~•c~xn~ obliKat~~~1 to p:~y tn th~ .Serr~ary'e( Ilou.inK and l rhan I)~•~~~•lupm~•n~ :md :~n~~ balan~•~ r~~mainin{; in ~h~ fund. .~crwuulat~•d und~r th~ pro~•ision~ o( (b) uf 'said p:~raKr.~ph I( th~•n• .hal) hi• a d~~fuult und~•r an~~ nf thc pro~~i.ionx v( thi~ mortKag~•. n•~ullinK in a public .alc o( ihc p~~mi.es ~ i-n~~~•red h~~n~L}. or if ihr mortK:~~~•~• a~•quin•. th~• prop~•rt~ ~~Ih~rNis~ a(~~•r d~~L•~uh. th~ mor~~:a~~•~• .hall .~ppl}. th~ thi• tim~~ o( t6e ~•omm~•n~•~mrnt o( .u~-h pm~•~~~~in~;. ur :+t th~ tim~- thc prop~rh• i. oth~•r..i~c a~•yuir~d, thr balanc~ th~n r~maininR in t6~ (un~ls a~-cumulatc•J undrr {a) u( p.ir.~Traph pr~~•i~dinK :~s u crcdit :~;,ain.t ~h~ amuunt o( pria~~ipal th~~n remaininK unpaid under said notr and .ha!1 prop~•rlv adju~l an~ p.n•mrut. whirh ~half h.~~~~ lx~i•n ma~lr un~l~~r (e) ~f s~id para~raph. -i 1 h:N hr w ill p:~~ .dl t:~~r,. a..r..mrn1.. untrr ratr.. nnJ u1h~r ~u~~rnmrnl:J ur ~nunicip:J ch.uet~. fin~.. ~~r impu.iu~~m. (ur ~hiih pru- ~i.i~m h.~. n~~t tkrn ma~lr hrrrinFvf~ur. anJ ~n JrL~ult lhrrr~~( Ihr m~.rli:~cea ma} p:~~ thr ..~mr::~~id th.~1 hr ~+~II pr,~mpUt drh~rr ~hr ~,th~~:~S ~t'i~~{~t. thrrr~~•r tu Iha IltnflL.~Ct~ . ` Ih:~l he ~~ill pcrmit. iummit. ur wflcr nu ~~.i~tr. imp:~irmrnl. ~~r .I~Irtiur.~tiun uf .:~iJ pr~,prr~~ or :~m part Ihrrenf: anJ in Ih~ r~~~t ~~f thr L~ilurr ~~f thr m~~rl~:acur tu I.rrp thc huilJint. ~~n .aiJ pr~mi~r.:~nJ thu.~ n, hr rr~rtid ~ai ~:~id prrm~.c.. ur impn~~~mrnt. th~reun. in ~s~ti~d re- ' p.ur. Ihr m~~r1~:~t~r m:i~ r.r~{.r.urh rcp:~ir. a. in ih d~~:rrt~~~n it nr.~~ dr~m ~~rcr..:~n (~~r th~ praprr prc.rn;~t~un thrrr.o(. .~nJ thr full :~m~,unl ~~j ~i ~ r.~ch anJ r~ rr~ .uch p.~~ m~n~ ,h:Jl Fk ~mm~Jiatrh dur and p:~y.~hlc_ :~nd ,h.dl h~ .e~ur~•J h~ thr lirn ~~f Ihi~ mart~aL~. _ ~Ihat hr ~+~II p:~~ .JI anJ.ingular thr ~u.1.. ch:ue~•_ anJ e~{+tn.r.. miluJinL rr:~.on:~hk I:~w~rr'. (ec.. anJ ~a.~. ~~f ah.traih t~tlr. m- ~ ~urra~l „r p.u~l :u ant timr M tht m~~rt~aer~ h~i:~u.r uf thr t:ulurr un Ihr p.~rt Ihr m~~rt~:.~eur ~~~,m~?h :~nJ fu11~ t~+ prr(~,rm ~hr :~Lrr~m~nt. ~ .md ~~~v~~~ant. uf .aiJ pr~~mi..~~n n~~tr enJ thi. m~~rttact.:md .a~d i~~•t.. rhar~r~. and r~(+rn.e. ~hall (x ~mmrdi:~lrh Jur anJ pa>aMr anJ .h.~ll ~ Fk .r: urrJ h~ thr lirn th~, murt~a~~ ~ ~Chat he u ill lcrp th~ impr~~~rm~~t. n~~~ r~+,Un~: ur hrre:Jlrr ~r~il~d ~~n ~hr m~.rtL.~~rd pt„pert~ . m.ureJ .n m.~~ Fk rryuirrJ irurn um~ j t~~ um~ h~ thr m~atgacr~ :~g:~in.l lu., h~ firc and ath~r hatarJ.. i.nuahir.. :~nJ iu~tintr~i~~r. in ,urh amuun~..~nJ fur .uch prn~Ki. ma~ F+~ t rryuired h~ moncaire. :~nJ w ill pay prumptl} hrn dur. :~n~ prcmium. ~~n .a:h in.ur:~n.e (ur p:~~ mrnt of uhi~h pn~~ i.iun h.~. ma hr~ n nr.~dr ~ hrr~int+~f~~rr. :\11 in.ur.mrr.h:~ll Ik r:~rricJ in a~m~:~~~ir_ap~ru~rJ h~ mar~~;:ii~e :~nJ thr p.,lirie..~nJ rrnrw:~l. ~hrrr~,f .hall hr h~IJ h~ m~~rtL.~- [ L~r anJ h:~~r a~ta:h~d ~hrrrt~~ lu., pa~ahlr ~lau.r. in L~~ur af :~nd m(urm :~~crp~.,hle tu thr murt~:.~ic~. Inr~ent uf lo.. h~ tiill ei~r immrdi.~tr t nutirr h~ mail Iu murtg:~crr. :md murlg:~etc ma~ ma1~~ pru,~f ~~f lu.. i( n~~~ mad~ pr~~mptl~ h~ murtcac.rr. :mJ rach imur.mrr compam run- crrnrd i. hereM :~ulhuriie.l :md dirrrtrd t~~ mal.~ p:~) ment (ur .u~h 1~~.. Jirecth to m~,r~~:ace~ imtrad u( tu murt~a~or :mJ mortk:~crr ~~,inlh . ~ :ind Ih~ in~ur:~ni~ ~r~,~r~J.. ~~r at»' p:ut Ihrre~~(. m:~~ F.~ :ipphrP ub m~~rt~:~~« :~t it. upti~~n aithrr tu thr rrJucti~m ~d thi indrMrJnr.• hir~h~ .ccurrJ ur t~~ thr rc,tur:~tiun ur rrp:~ir thr prup~rt~ J,mat~rJ. In e~rn~ ~•f farr:l~~.ure n( Ihi. murtga~r ~~r ~,Ihrr ~ran.frr u( titlr a~ ~hr murt- u~L~J rmpert~ in r~~in~u~.hmrnt of thr inJeht~Jnr...e:~urJ herrh~ .:~il n~ht. titl~ .:~nd intrrr.t ut Ihr m~~n~.~L~~r in :~nJ tu am in.ur.mrr p.•G ~~c. th~n in („rrr .h:Jl p:~„ ~u thr purcha,rr ~,r cr.mtrr X'I h:~1 i( tha ~rtmi.e.. ur :~m pun ihrrruf. 1.r ~un~lrmn~J unJ~r an~ (N~NI'( ~l~ l'I11111tf1I ~IURlain. ur nryuire.l f~~r puhli. u,r. Ihr J.~m:~a~.. 3 pr.~rrcd,. and th~ ~.~n.iJrr,diun (ur ,uch ,~ryw,niun. a~ thr r~~~n~ ~rf thr (ull am~~unl of indrMrJnr.. u~xm th~. \1.~r1~aLr. aoJ ihr \utr ~r~urr~l hrrei.~ rem.iinin~ unpaiJ. :+rc hcreh~ :~~~iLntd h~ ~ht \IurIL:iL~~r !u ~he ~lutle:~~'e~ :mJ ~h:Jl hr p:~id f~•r~hwith t~~ ~hi ~1urI~:~Ci~ Iu hi .ippli~J h~ ~t ~~n ar«~um uf thr indrMrn~,..riurrJ hcrch} _ whrthrr dur ~,r nut '1-h:u the murt~accr ma~. ;d :~m Iimc prnJin~ a wil u~~n thi. m~~rtgacr. :~~~i~ ih~ c~~urt h:~~inL iun.Ji.ii„n thrrraf f„r thr .~pp~•~m- _ m~nt u( rrcri~~r. :mJ.u~h cuurt ,hall (unhwith :~~~~,~o~ , rece~vcr at ~he prcmi.r.iu~eraJ hrreh~ :JI :md.in~ul:ir. in:ludinL.Jl :~nd .~n~:ui.~r ~ the incamr. pr~,fit.. i..ue.. anJ re~enue. fa~m W hate~er .ourcr JrriccJ_ r:~ch :~nJ ~.en uf which_ i~ t+ein~ e~prc..h unJcntu„d. i. hrrch~ ~ mart~:ecrd a. if .~xcitic:dh ,~I f~~rlh anJ d~.rrihrd in thr cr.~minc and h.~hrnJum il:~u.e~ hereuf. and .uch rice~~rr .h:dl h:~~r .~il Ihe hro.~J nnJ rlt~cli~r functian. .~nJ puwrr. in an~w i.~ rnlru~trJ h~ a ~uurl tu a rr.ri~~r. .~nJ .u~h .~ppoinlmrnl .hall ht m:ale M.uch :~~urt :m .~Jm~ttrd ~.yuil~ anJ m:~Itrr af :~h•olute rieht I~~ .:+id mutlc:+~~e. :~nd H ilhnut rrf~r~nit I~~ Ihe aJry~c~~y ur in:~Jcyu:~~) uf Ihr ~:Jue ~~f ~hr pr~~prr~~ m~~rt - ~_:~eaJ i~r 1~~ ~hi ~~~hani~ ~~r In.ohtn~~ ~~f .nid m~tt~~:~L~~r ~•t Ih~ dr(r~iJ.in?.. .~n~l th.~t .uih rrnl.. pr~~tit.. inr~~mr. ~•.ur~. .,n~l rr~rnur• ~h.ill ha .~pplirJ hy .u~h rr~ci~ rr :~rr~~rJing 1~~ the lirn uf ~h~. m~.rt~n~:c anJ Ihr pra~ticr „f .uch c„urt 1~ ihc r~rm u( :~m drL~ult ~~n th~ p,r~ .~f ~hr murt- ~ ~:.~~on c~rrunJrr. thr m~~rt~:~~ur a~rrr• tu p.~) 1~, Ih~ mort~:~~rc un dem:ind rra.un.~hh m~~nthl~ r~nt:J („r thr prrmi.r.:m am~~unt at Ir:~.t ~ ryu~~:drn1 tu ~~ni-tw~l(~h 1 UI'_1 thc :iecr~Lat~ of Ihr t~~rhe m~~nthh iml:Jlmrnh p:~~:~hlr in thc Ihcn currcnt cc:~r plu. thr :~:tual .im~+unt ~~f ~ thr annu:J ~n~c..:~..~..mrnt...+:urr r.~t~.. and imurani~ pr~ mium. (~,r .uch ~rar nut c~~~ errJ h~ ~Fx :,f~~re.:~iJ m~,nthl~ pa~ mant~ ~ III. I h.~l 1:~1 in thr r~ent :m~ hrc:~:h Ih~. m~~rlLacr ~~r drf:~uh un th~ p:~r1 ~rf Ihr murl~:~c~~r. ~~r ~ M ~n ~hc ~a rn~ Ih.~t .~m of ..u.l .um. ~ mun~} hcrrin refcrrrJ t~~ ha nut prumptl~ :~nJ full~ pai.l Hilhuut Jrm:ind ~~r n~~tiir. ~~r Ir1 in tht r~rnt th:~t ~arh :~nJ ~~~n thr .t~pu:.iu~~~~•. ~ acrrrmrnt.. ~„nJiti~~n.. .mJ rn.~nt, uf .:~iJ n~~tr :~nJ Ihi~ mar1~:.,~r. arr n~~1 Juh . prumptl~ .:~nJ fulh ~rtnrmrd: thrn m rithrr ~~r .~m .u:h ~t ~v~nt. Ihr •.~id :~ccrc~alr .um mrnli~mcJ in .:~iJ n~~tr thc~ rrm:~ininE unp:~iJ. uith imrrr.t :~:rrucJ t~~ th:~t umr. :~nJ .ill m~aic~••r:urrJ hrreh~ . .h:Jl h«umr Jur .~~~J p.~).~hk G~rthuith. nr thrr~.~flrr. at Ihr ~~p1i~m ~~f .aid murt~:iLrr. (ull~ and :~,m~Ir1~1~ i( .~II thr ..uJ .um. ~,f m~~n- r~ w~rr uricin:~ll~ .tipu~.~t~d t~~ Fk p.~tJ un .u:h da~ .:~ntthin~: in .:~iJ nutr ~~r in Ihi. m~,rtg.+~c 1~~ thr r~,nlr:irt n.~twilh.~:~nJinc. .mJ thrrrup~~n ~~r ih~rrref~~r..~~ thr apu~~n ~~f .:~id mortE:ILI'l'_ NIIFIUUI nulira ~~r d~m.~nJ. .uit .+I InM ~~r in ryuh~ . m,n tk pr~~.~iutrJ if .~II munr~, •a~urcJ~h.•ra M h.iJ m:~iurc~l pnur to ih in.lhuli~~n. Ihr tnart~aLCr mn) (~nr:l~~.r ~hi. mor1~::~et. a. t~~ th. .~muunl .~+dreL~r~J Jur:~nJ p.~~aMr.:mJ Ihc ~.~iJ pr~ mi.~ ~~hall h~ .oIJ a~ .:,U.f~ .~nJ p:~~ thr ~:~m~ tuLr~hrr with ~u.1.. r~pamr•. .~nJ .~Il~~w.~ncr. In i:~~r uf p.~tU:J (~~t~il~~~uti thi. mutlt.~~t. Ihr mart~.~ceJ premi.~. .h.~ll h~ ~~dd whjril thr r~~nUnuin~ i~rn thi. nu=rtL.~~r (~u Ihr .~muunl ~~f Ihr ~Icht n~~t thrn Jur.inJ unp.ud In .u:h in.c Ihc pm. i.i~m. thi. p.~r:~cr.~ph rn.~~ ai.un hr .n.~i1rJ ~d thrrraflrr frum tim~ t~, um. M Ihr murl~.~crr. ,