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HomeMy WebLinkAbout0965 ~ ~ ~Il.~ti~~ ~~(~IICII .~i;lCilll.!ll ~~f e~1~l~l~.i~~~r L~~.. It.~ri~~~.~~r ~hall ~x~~ Ifll' :Ill:~~ltill i~ :1~~ I:l~~ll~!.~lC Ifl~cll.ill~~ ~ fl'1111U111~ 111 1~1C ~~i.~nie~r ~ .:.!:•it u~~~l~•1 S~ai.~era~~h h~i~rf :u~~.~nnh .1i.f,nr..cl bt t rt~~irr ~•ui.u uu ;hi. ~•a!.,~~.~~~h •.~~tlt inlrrc,~ tf~rrr.~n. .h:di hra~mc ad~6h~~na1 ~n.lrly~•~Inr.~ ~1 IA~~r~,~~~r ~~•:i.r~•il M Ih~. \1~~rtc.~::~• ( nlc.~ R~~t:~~~~ri .~r,~t 1~•n~li•~ .~e~:r 10 ~ilh~•~ Irr111, .~I ~.acmcn~. wch .~u~~•un., .h.~ll Ik~ t~.~~:~hlr u;,~r n~~',..•~fn~ir. I rnd;r t~~ B~~rn~~~~•r ri, ~:c~tii~c {~.~~ment shir~•.~l. :~rui ~li.~ll Ik:~r iirirrrd fn~m Ihc ~L~'r ~•f ~li~h,rr.rmcnr :u t!t. ;alr (?.~t.~l~L• tr~~m ~int~ 1:~ timc ~~n ~art~~':ndine princ~~a) ~n ~tcr Ih~ '~~He un1~~~ pa)~mcnt o~ irtrrc.~ al ;u:h r.~tt• •~rul.l hc• .•,,•ur.~r. tr :~r~,l~:;~hlc t:~i.. ~n ~~hi~h ~v~nt ~n~h am~~~int~ .h:~!! hca~ inlcrC~t at thr hiFhc~t ~aR ,-.~~~iticitdr ~:n~lrr ::~~1f:~hlc 1:~~~ ?~„tf~in~`cunlain~~in thic par.~ttaph 7<h~l) r~qui~o 1 rndcr incur :m~• c~~xn;c ~r takc .u~v :~rt~on hrrrund~r. R. In.~~cction. I.ccuirr ma~~ m.~l~ ~~r rau,c t~• Fk madc ~ra~on:~hlr rntri~. uE•.~n and im~kct~.~~n Ihr Pr~~~xrh•. ~roeidcd ih.~t 1 rnur~ .h,dl };iv.• i~~~nr.~~~r n~~C~ rRi~•r l~taR~' u~ch in~Ex:uan ~~x.iiy~n?! r~at~~nabl~ c.~ii.c thrrcf~~r r~l:dcd t.~ I.cndcr'~ : , ? ' > ~ntCrt~,t tp (hi PiI~F)~fR•. • 9. Condemnation. Thc ~r~,~r~d~ ~~f am~ a~~a~J or claim i:•r .lamacrs. dirrct r~ crn.ry~~cnti:il. in ~rn~ncctinn w•ith ~n~• ~anJ~mn:~tian i.r ~~th~r takin~ ~?f th~ Am~xrty. c~r part thcnY~f, rr for convrv;~ncc in licu ~~f ci~ndcmn.~lii~n. :~rr h~r~hy~ a~~igncd , :inJ .h.Jl h. ~ai~3 i cn~irr. : In ih: r~~M ~~t a ti~lal ~akire ~f ~hc Pr~~xrq', thr pr~kcr.lc ~hall Ik :~~plic.l t~~ thc ~iime kc~~rcd h~• thic ~t~•rtg:~cc. { ~~ith thr ~~rr.s if am•. ~.~;d t~, Hi~~n•~.•cr li~ ~hc c~•cnt ~f a~~:~~lial takinL ~•t thc Pr~ncrt~~. unlcc: fl~rr~uccr and Lcndcr ` ,~then~i.~ :~grcc in ~~riting. th;rr .hall hc al~plicd thc ~ums .rcurr.l h~• Ihi. 11~~r~~:acr ~urh {.n~p~~rti~~n ~•f Ihr pri•c^r•1c ac i~ ~yu.~l to lh:+t pr~~~~,rtirr. ~~h~:h tt~~ :+m~~unt af thc sum~ .r:urrd ht thi~ \1~~rtLaLr imm.~i:itcl~ ~~n~~r t~• Ih~ date of takine tkar. tt• th~ f•r+r markrt ~•:dur u' thr Pru~~rlv immcdialcl~ ~+r~~~r Io thc.iat~ c~f r,~kin~:. ~~ith thc h:~l:~ncr ~+f thc pr~.:a~dc p:iid t~~ B~?rmwcr. If Ihr Prnper!}• ic ahand~~icd b~ I;l~~~i~N'tC. (~f 1~. aftrr n~tice h~• 1 cndrr Arrr.~wcr that thc ~ondemn<~r otfc~s to make :~n ;,ward ~~r cctilr a rlaim fi~r u.ln:.~~;~.. B„rn.H•cr faih in rc.{?~~r~~l t~~ 1 rn.lrr Hithin t(1 dac. a:tcr thr d:~tc ~uch noti:~ ia ~ m~ilcd. I.~n~lci i. authorircd m c~~llect and :ipplv lhr pr~x:rcJ,. at 1 cnJcr'~ rrti~n. rither to rcdora~ion ~~r mpair ~~f thc Pro~r~~ ~~r t~. th~ ~um~ tiL:ur•:d hv th~~ \i~rt~a~c. ~ Unlcsti I.cn:lc~ :~nd iiorru~~c; ~thcr~~ic~ agrcc in ~~~itin±•. am tiu~h :~pnii::ui~~n rf rr,..•ccd~ t~• prinrip.:l .hali nc~~ e~tcnd ~ ~•r p:xl~x+nc ~hc du~ ~lat~ ~,f thc m~~nthl~• ir:.tallmrnh rcf~rrcd tc+ in n:~r~~ra~~h. :.ind ? hcrr,.f ,~r rh:~nic thr am~•unt c~f cuci~ ~n.t~limentc. - +i 10. Burrov?er :101 Rrlea~ed. i~~tenti~n ~~f thc timr f~.r pa~ mc~t .~r nx~dific, ti~~n nf -im~rti7alion i~f the wm< <crured ~ hY thi~ AtiutL~a~c cr.~ntc~i h~- i cn.tcr tn am• .,~~:cc~ur in im~rc.t ~~f Rc.rro~~rr .h:Jl nc.t ~~~rratr t~ rclcac~ in am• mannrr. , thc li.~h~li~~ .~f the c?riein:il B~~nt~ti~er and R~~rrn~~~r'~ ~ure~,u•rc in irtcrcct. I..inier shall not he reyi:irr~l t~~ ec,mmenee ~-r.,,cc.ling~ B~Jfns~ such .i~rce~~or or +c(u~c to c~tcn,! timr for pa~mrnt „r othcn~ik m~~.t~f~• amortirati~~r~ ~~f thc sums ~cturcd h~ thi, ~iortgagc h~• rcac~~n i~( am• dcma~id madn c~ thc .,ric~nal I~orr„~~zr :uid B„rr~.w•cr s c~~ccr~~~•rc iiti intercct. 11. Horbearanre bv I.cndcr \uf a V1'ai~er. :~n~ f~.rFkaran~n c~ 1 rndrr in ~~crci.int~ :+m riLht nr nmrd~~ h~rtrndcr. or ~ .•:hcrw~itic afi..rd~~l hv applicahlc laa• .h:~ll n~t ln w~i~•cr i~f ~~r pre~ludc thc cx~rcisc rf am• ,u~h right "r remcd~'. "Thr prc+~urcmcnt of incur~ncc or thr p~ymcnt of t:,rr~ i~r ~~Ih~r lionti ~~r chargct hc l.~nd~r ~hall n~t tx a~+.~i~•~r of 1 cn.lcr'~ ; .*ieht to accrkrat¢ thc maturit~~ i~f the indchtcdnr•ti ~::!ir~d M thi, ~1~~rtgagc. s 12. Remedirs t'e~mulati~~c. :11! reme~iie~ ~r~~~ idrd in thi. ~It~r~cage are tlittinrt :~nd ~umulali~•c tu :~m ~~thrr neht or ~ irmc~i~~ ~uider th~ti ~i~~rt~~aer i~r :~tT~~rd~J h~• laa ~,r cyu:t~. :~nd ma~ h~ c~rrci<<J c~,nru~r~ntl~. inJcpcndenth• ~~r ,ucr~.si~~ci~. 13. Succesw?n and :'?ctiiKnc Buund: Joinl and Sr~rral Li:~bilifc; ('~ptiouc. lhc :ov~nants• :~nd aerecmcnt~ hrrein ~ c~~nt:isn«i ~hali :~ind. :u~d ihc richt. hcrrundcr ,h:,l! ±nu~c t~. thc r«~~rti~c ~i+rcc,u~r~ ard a~~i~ns ~~f I.rndcr and Bnrro«cr. ~ ,~~bject tn tltic ~•r~~~~i,iom ~•t par.,eraph 17 hcrroi. ~~II covr~s:~nt. :,n~l acrcrnernt. c,f R~~rrcnrcr shall t+c j,^n~ :~nd .cccral. "fhe ~arti~~ie~ an.t ieea~l~u__• ,•C thc ~ar:~gr.~ph~ ~+1 lhic ~1~~n_aL~ arr f~,r c~~m'rnirn_e .~nie• an~i arc n~t t~~ Ix: ~ieed to ~ ~nt. rrrct i,r dcfinr the ?m. i~i.~:~, hcrci~~. - 13. '~otice. ~xcrnt i,~r r~~~~' ~otirc rry~iireJ :an~lcr ap{~ii~:ihi~ 1:+.~ t~~ hc Liti~cn :r a~~c~thcr manncr. (a) :ui~~ noticc to l3~~rr~»~~r pr<?~•iJrd fur en thi, ~turt,nEC ~hall tx gircn h}• m:sit~ii~• .~::h ri.~ticc hc crrttficd m~il :~uJrc"cd t~~ Borr~~~~~cr at ' thc Pro~rt} :WJrc•. ~•r .e+ .u.•h nlh~r addrec. a. B~~rrc~~+rr ni.~. d~.~~n:~tn c~ rn~;i:~ t.. 1~o.lrr ati pr.•~i.ird hcrein. and ? (h~ :~nti nuhrr t.~ Lrsulrr ~fia!! F,~ ~i~'~n ht• icrti;ird m:~il. rrturn r.•~c~ni ~ryi,~.t~c!. i~~ t en~lcr'~ :?d.tr<<c st:~trd hercin ~~r to F .ii~h rshcr :~dd:ct< :u Lc~~Jcr nrt~ a~ctiienatc h~ nuti~~ t~, B~~rr~?~~r :+s ;imlidc~) her~iii. .\r.v noti.t pro~~idr~l f~~r in thic 1t~•n~a~c ;h.~l) Fk dc'cm..l t.~ ha~i hecn~eivrn 1~~ (3~~rn,ucr i~r 1~•ndcr uhrn gi~cn in thc ntar.ncr dc:icn:~t~J hcrcin. j lr. ('nifurm'~inrt~:~Kc: Go~'rrnink [ a.+: Sc~rrabilih. I h:. m~,t Ill~~l1L.1YC ~i~snhincs uriif~~rm «~~•rnantc f~~r nati„n~~i ( lt]l' :/(l:i m~n-u:il~.~ftl: l'I~~CI1::f11~ ~.ith lin~it~.l \':If1:111N1~~ h~ jnn.:u:uvn t~~ ~~`Ilti~t(fl(Y d UUI~O~fll ~t~ttf!l\' I~t~!lllflll'!It C(~l'l'~Ifl~,' ; n:al p~o~r~c. l~hi~ ~tortgagc .h:+ll hc guvcrned h~~ thr la~ ~~f ~l~, iuri~.'.ictt~~n +~i ~~hich thr Pm~n+• n kx:Ucd. In thc i e~•ent ~hat an~• pr~evisi~m or clau~ of thi~ 1t~~rt~ag~ ~~r thr \,•t~ ~rmli;t, ~+ith ap}~:i_ahle ta~. snrh ronflirt ~'~all not affect i~th~r pr.~~+~ivn~ u( Ihi~ ~1ort~:tLtr ~~r Ih~ <~hi~h :an h~ zi~~n ~~c~c t~i!h<~ut IhC :onfliclint rr~.i~i~,n. and tn this ~ cnil thr {~n•~i~i~~m of ih< <1„rt~~aec anJ th~ ?i~t~ :+rr .~r:l.imd t~~ hc ,cc••rahlr. ~ 16. Borro~~crs ('np~. Borr~~~~.r .h::~! h~ fnrni,h~.t ~.~i~t~~nmd ~.~E•t ut th~ \~,tr .in~l ~~f th~• ~1~~~t~agc :+t tFc timc .~f c~«~i.ion or .~ft~r rc~ordati~n hcrrof. ~ 17. Tramfer of tl~e Properi~: .lctiumption. I( :~tl ~e :~m t~.~rt ~~i tfic Pr~~Fxrt~• or :~n intcrr:t thrrein i. .~~ld ~r lrancferrrd h~• Rorr.•ur< <~ilhrut Ltnd~r'c pri~~r ~~ri~tri~ ~un«ns. ~~.!udin, ~:i~ th~ rrcati~~n rf a lien ~•r cncnmhranc~ st~h~ir.lin::tc l~~ ~ , thi. 1~1~~~tL:~LC. Ihi rr~atin:~ ~,f nurch:~.r m~~nr~ •r.uri~~ in;rr«t frr h~~u.rh~~1J ap{~!iance.. (cl a tramfer ht• devise. i i de.r~nt ~r h~• ~~p~r:~t~on .?f L•~« upun thr Jr:?th ~~t i,~ini trn.~nt rr i~ii thc tirant ~~f am Ira.Lh~~ld intcrest ~~f thr~~ ~~as~ or lcc~ s n~,? containinc :~n .~ptirn t~• pur~ha~e. Lcn~irr ~:ri~. :it I rndcr'. ,~~~ti,~r~. Jr:l:~rc :ii! thr tium~ ,rci~rcd h~• Ihis '~turt~a~c to t?c :mm~.iialel~ due :~nd p.i}•ahlr. I ender tih:ell 't~:i~c ~~:+i~~cl ,n:~f r{,!irn :tc:rlcr:~~e if. ~ric~r t.• the ~ale ~r Iransfer_ Lender ; { ~n:i thc Exr«~n ~+h~m~ the 1'~.~[~~rt~' i~ t~~ h~ tii,l.' ~~r Ir.in~i~rr~cl rc:i~~ :+,_rc~tn~ni in ~crit~~~g iirii i~ic crcui~ ~~i .uCi~~ jwiii.~: ~ i~ sati.facton~ to Lcr~.irr :lnd that th~ int.~r~.t ~:~~.~Mr ~~r. ~h~ "m~, ~rrurcc'. h~~ tfii~ it~•:t~.?gc ~hall bc at such rate ac i.cnder ~h..l) reyuru. If Lender ha~ w':~i~e~ thr e+plii~n t~~ :~~~ck•r:~t:- p~~~vid~.i in Ihic ~+.~r~eraph 17. and i! B.~rr~~w'er's succ:essor in interect hac e~eeuted a ~rriu~n assumption agreemrnt arre~~~d in ~~-iti~ie h~- Len~ter. I.~nder ~hall releace $orr~~~~•er from all .~bligations under Ihi~ ~t~.rtgagc and thc Nntc. = If i ender e~crri.r. such rrtii~n t~~ a~crlkr.~tr. I rncirr .h~ll niail B~?rri~wcr n~tirr nf acrcler~ti~n in accc~rdan~e ~~ith ~ p~raKrapli IJ hrrc~~f. Such n.~tice .hall rr.~vidr ~rri.~.l .~f m~~ te.~ th:ii~ 3(1 ~I:~~~. fmcn the date the nr~tice ic mailed w~ithin ~ ` .~hich B~~rruwcr mat p:~~~ thc cumc dccl:~rc.l dne. If Itrn.~~~rr t:~:!~ tu p:t}• ~u~h .~ims pri~.r tr thc c~pir:di~~n .~f tuch pcriod. ~ Len~ter m~~~. ~~•ithoirt further noticc nr Jemand rn li~~rmucr. ~n~rl.e am rrmedies ~~mitted M• raraerapfi 18 hereof. ~ ;Vov-UNIFARM C'ot~FV,?~rs. Borrower and t cnJcr furthcr cc.~•.n~m and agrcc as follows: ' 18. Accelerafion; Remedies. Fxcept as pro~ided in puraRraph 17 hereof, upon Borrowers breach of any co~-enant or ~ agreement of Borrow•er in this ~1ortRa~e, includin~ Ihe cn~enanl~ to pa~• when due any sums cecured by this ~tortgage, i.ender ; prior to acceleration shall mail notire to Bo~row•er a~ pro~idrd in para~r•rpl~ 14 hereof specif}in~: (1) the brcach: (21 the action t required to cure such breach; (3) a date, uot Iess than 30 da~s from the date the notice is mailed to Borrower. b}~ which such ' breach must be cured; and (4) Ihat faiiure to cure +nch breach ~~n or Mefore Ihe date specified in the notice ma~ resalt in a acceleration of the sums secured b~ Ihis ~tort~a~e. foredowre b~• judicial proceedin~ and sak of the Property. 'Il~e notice ~ shall furiher inform Borrower of the ri~ht to reinstate afler acceleration and the riRht to assert in the foreclosurc proceedin~ _ the non-exiqence of a default or any other defe:~se of Ronower to accelerafion and foreclosure. If the breach is ~ot cured on ~ ~ or betore the date specified in the notice, i.ender at l.ender's nption ma~ declare all of the sums secured b~- fhic ~lfort~a~e to be immedlatelc due and pa~aMe without further demand and ma}• foreclose thic ltortKa~e b~• judirial proceedinR. Lender shall be entiQed to collect in such proceedin~ all expenses of foreclosure, includin~{, but not limifed fo, re~sonable attorney's fees, ~nd costs ot documentan• e~idence. aintractc aod title reports. . 19. Borrow•er's Ri~fit to Reinst~le. Notw•ithctandin¢ Leie~lcr'. acccleration of the zums secured hy this Mortgage, Borrower shall have the riqht to have any proceedings heg~in hy Lender to enforce this ~tortgage discontinued a~ any time ~ SOOK ~6O FAGE JUU ,