HomeMy WebLinkAbout0379 1 rn.lr~'. Nnttrn .igrcrm~~ri ~~r app~~~~b!r la~ karruH~r ~hall ~,.~y thr am~,unt ~~I .~II m~~r~gaE~ iii.ui.~n.r prcmiurm ~n ~hc
n~.~nn.r p•.~~~~i.•~I tu~d~t parajrapll~~ FKrcOf. 3r,;
r~~~t .un.aint~ i1i~i~ur~~d bv I in.Irr pu~.~iynt fn tt~i~ r.ir.:i•!.,ph ~~~~h in~~~rr.t ih~r~.ui, ~~ti.ilt h~.~m~~ :~d~l~U~~na!
in~li•ht~dnr~~ ,H li~~~ra~~a•t .r~urr<i h~ Ihi~ \1.~rl~a,:i• t'nlc•~ f;.~rr.~t~~i .util ( rn:i~' ~c~« t~th~r tCrm~ .~1 {rt~ftlcnt. .u~h
:~nt~»inh.h.~ll tk E~a~:~hli u{, ~n n~~~i~r fr ~~ti (~•i~Jrr l~~ Il,•rt~~~~rr ir.,ur•~ine {~.~~in~nt t!~ercrt. and ~h.il) h~:~r in~crr.t fmm the
,I:itc -+t ~li.hii~c~mrnt :,t !h~• r.~tr ~:~~,hlr fn,m timr ~i~ ~imr ~,r ~,u~~!.~ndin~ {~nn~ipal imdcr ~hr ?~~,IC ~nlc.~ payment of
int~rr.t at surh ralr ~~.~ultl ix cr~it~an t~~ ap~~LraMc I.i~v, in ~?h~;h r~cnt ~uch arn~a~nt~ ~li:l) !u;aY if~t~t,p~ ~ highcct ratc
~xrniicciMr un~cr :~~phraM. law. ?~~~thin~ c~~~tained m Ilti. para~ra~~h 7 chall requi~c 1 cnder t~~ inrur a~y ryx:nce or take
.im• a.t~on hrrcund:r.
!t. In,{~rclion. 1 rn~lcr mav :n.+lr ~,r..~u,c ~o hcmadc rcaconablc ~ntric. u{..,n and im~x~tirm ~~f Ihe Pn•pcrly. pn•~•idcd
th.~t I rn~er .h:~ll ~ive Q.~rr:?H.;r na~i~r ~ri~~r tn am ~uch im~x.tiun ~~x:if~•ing ~iaconahlc cau~~ ther~fe~r mlated ta 1 endr~ c
. . e.t IJJ
~MCr~~I itl lhC Propcr~y.
9. ('ondemnati~,n. Thr pn•rc~d. uf :~ny aHard or claim fur ~lamagcs. Jirccl or cun.cqucntial. in ~oitncction with an~~
~ondcninatic~n or uthcr taking of thc Pmprity, or part thcrrc~f. ~~r !'or cc~nvr}•anrc in licu c~f ~ondcmnation. ~r~ hcr~hy a«iencd
an~l .h:~l! I.c paid ta I.cndcr.
ln ~he e~ent of a t.~tal takinc of thc Pr~~xrly, the pnKCCds ~hall ix aE~plicd t~. ihe tUMc secu[td.hy ~his MortgaRe.
with the c~:~.s. if any, pa~d to Rorr.~wcr In ~he e~•ent of ~ p:~rtial t:~kine uf ihe PropertV: ~nlecc fitmow~er and t.ender
.~therw•i.~ agr~ti i~i ~~rit:n~. th~rr ~hall he applied to the cuma secur«I h} th~. Mi~r~L.~~e .urh pra{x~rtion ~~f thr prnceeds
ac i~ eyual to that pmp~~rti~~n ~~hich ~hc :imuunl of the sumc K:ui~d M thi, Mc.rtga~r immcdiat~lc pri~~r ti• Ihc date of
t:~king heart to Ihe fair mhrkrt valur ~~f thc Propert~~ immediately prii.r to the ~late of takinc. ~~•ith the halanrc ~f the pro.eed~
paid t~• Borrowcr.
If the Aroperty ic ahandoncd b~~ Burr~wer. or if. aher n~tice M• 1 cndcr a. B~~rr~~~ticr that the rnndemnor otfcrs to make
:in aw•ard ~r settle a claim for d.s~na~~.. B~~rmw•~~ fail. rr~{xmd t~• I ender ~vithin i(1 dac~ after th~ da~c ~uch nc,tice is
ma~led. I.rnder i. authoriud to rnllcct and appl~• thc pr~•cccdt. a~ t.cndcr'c ~~{~tinn. cithcr to rcctoratiun ~r rc~air ~f thc
Pro~xr~~• or t~~ thc ,um. .rcurcd h~ ~hi, ~lortgap:c.
l'nles~ I.cnd~r and Bo~r~~~+cr r~hcn~i~r :~grc~ in t~ri~i~tit. an~~ ~u~h :~E~~lii.iti~~n i~f ~+rck~eJc t~~ ~~rin:iral .h:+ll nnt C~tcnd
ur po.t{?onc thc dt?c dat~ ut th~ mrnthl~~ in~~allmcnt. refcrrrJ ;u in i~;~raeraph. I and 2 hcrc~,f ~•r chanec lhc am~,unl of
.uch io+t~llmentc.
10. Rurrnwer ~Tot Releaced. P~ten.~~~n ~f the timr for pa~~ment i~r m~~dificati~n ~f am~~r~ization nf the ~um< <rrured
b~• thi. tiii~rti.~~tc granted_h~• 1.cnJrr 1~~ :~m• ~u~cccu.r in intcre~t ~~f B~•rroacr ~hall n~~t o~xratr rclcasc. in an~• manncr.
the fi:~h~iit~~ .?f thr origii?.~I Borruwer a~id Borrow~~r'. su~crsci~rc in intere<t. n~1er ~hal) n~~t he myuirrd t~~ commenee
~~r~kccding, ag;~inst ~uch cuc:~~cor ar rcfuk to c~1cn.1 tim~ h~r pa)'mcnt c~r Mhcr.si~~ modif~~ am~~rtization ~~f the sums
•ccur~~l b~• ~hic !~iort~age M• rcasc•n of an~• dcmanJ madr h~ the arieinal 13~irr~~w'er anJ R~rrow~ers ~ucce~~~~r~ in interecl.
11. Forl~earance by Ixnder \ot a K'ai.er. ~m f~•rFx:?ranr~ 1 rnder in c~c7ciaini am right ~r remrd~• hrrrunder, or
~~thrrN•i:e atiorde.l br• applicaMe la~~•. tih:+ll nrn he ~~~ai~~er c~! rr, preclude ~hr e~er.;ice of am• .urh ri~ht ~r remed~•-
Thc p~oruremcnt ~f ia;ura~ce ur thc pa~•ment of ta~~w ar uth~r licm ~~r charb~ti b~• Lendcr.hall not hc a~~ai~~~r i~f I endcr's
ri~ht tu xrrleratr the maturi~~• ~,f thr ittd~hledee«s ti~_-!~red h)- 1hi~ ~fortgagr
12. Remedies Cumulativt. All remrdie~ pro~•ided in thic ~Ie~rtgage arc dictin~t :~nd cumulative to an) ~~thcr ricM ~r
rcmcJt• t:ndcr thi, ~1~~r~~.iL~ ~~r aB~~rdrd h~• law• or ~yuit~'. an~l m~~ }x ~~rr~i~cJ r~•ncutrcntl}'. inJepcnd~ntl~• ~~r ~ur~ccci~~cl)'.
13. Succec~on and :~s~i~;nc Buund; Joinl and Se~ersil Li:~bilit~: ('aptionc. The rn~~rnants and a~:reemcnt~ herein
~ontaincd shall !~ind. :~nd thr riehtti hrrcundcr ~hall inurr ti~. ihc r~.pcrti~~e wccc.u~n and alsigm of I cnJcr and Bormwcr.
.uhject to the pruvi.ionc i~f paragraph 17 hereof. :~l1 co~•eu:u~~5 an~i aerecmemc uf B~?rn~~~~er shall tx t•~'•i~t and se~•eral.
The capti~~n~ ;~nd hea~iin~s ~I the paragrarh~ ~f thi. ;~1~,r~ta~r are for c~•nvenience ~~nl}' :+nd arc nt•t t~~ Fk uced to
.
~ui~i~:~ci C~i ueu~~c ii~c jiii~~~~i~~ti~ iecfcu~.
14. Nolice. E~~ept fc~r any notice reyuirrd unJcr applicahlr la~~ t.~ be givr~~ in an~~thcr manncr. fa) :im' notirc to
Burr..~~~er pr~vid~d f~•r +n this ~1ort~~iee shall txx gi~•en h~• mailin,~ .u:h m~ticr M r~r~ificd m:~il ;~ddr~ti.rJ tu R~~rm~~er at
th~ Pro~xrty :~J~irc,. ~•r at ~nch othrr ~ddr... as Aurr~,wcr ma~ dc~ienatr h~ nt~tirc t,~ L~n,1er a~ pr.~vidcd hercin. and
ih) am nc~ticr tu 1 cnder :hall tx• gi~~cn hy cerlified mail. rct+~rn rtceirt r~.suc~t~.l. tu 1 en~ler ti ad~lrecc ss:~trd hercin ~r to
.i~ch i,thcr ;,ddrec~ a~ Lrn~cr ma~• drtiignate b~ nc~tir~ t~• B~~rn~~,cr as pr.~~idr.l h: rcin. An}• nuticc ~+r~,videJ for in this
~t~~rtgage shall he decmrd t~• havc f+nen ii~cn to A~~rn~N~er ~+r 1 rndrr ~.hen gi~cn ii~ thr m:+nncr de<ien:~tcJ hcrein.
15. l:niform linrt~;a~;e: Go~•ernin~ I.a»; Se~~rrability. ~~hc~ n~ r1 morteaLC c.~mbinrs uniform rn~~enant~ for itiatio~al
, ucc and non-unifrrn: c~»rsi:..it. ~+ith limi~~:i variatirn, hc ~un.~ti~u~m tr r~~nctitutc a un~forni Krurit~~ intilrur,~rnt covering
~ rcal proFx:rt~~. Thi. !1lungaec chall txr gc~~~crncd h~ thc la~ <~f thr iuri~~iicti~~+i in •.~hi~h thc Propcrt~• i~ I~xatcd. In lhe
4 ~~'cnt that am• provisi~+n .~r ~lau.c of tfii. ~lortt~az~ ~+r thc \~•l~ ~~mfli.h with ap{+licahlc lat~. ainc ~onflict ,hall no: af'fert
~ ~,~hrr ~n•~i.i~•m of thi~ '.11~•rts:acc ur ~hr ~~+tr ~~hi:h ran tx ~:i~~~n rtTr:t ~~i?hnut thc a,nflicting ~m~i~i~?n. anJ to this
~ rnd thr rm.isiom i~( thc ~Ic•rleaec a~d thr \i.tc arc Jrcl:ucd 1~• Fk .c~•crahlt.
~ 16. Borrow~er's Cop~. Bcrr~•~cr .h• hc furm~h~i1 a c.mf~~nnrd c~~p~ ~~f ihe ~to~r anJ <~f thic 11ort~agc at thc time
E ~~f c~~cutivn ~~r :r(tcr rr~•ordation h~~
17. Tran+fer of thc Pmpert~: :~+~umption. If all ~~r :,m ~~art th~ Pm~xrt~~ .~r an intcrcct thrrcin i, ,.~ld or trancferrcd
h~ R~rr.~wcr Kith,,ut Lrndcr's priur Nrit~rn .:umrnt. c~:?udin~ la? th~ ~r~:~ti~m i~f a licn ~r cncumhran~c wbordinate tn
thiti ~1~~rt!,aec_ Ih1 thr rrcati~m ~~f :i purch:~cr m~~nc~ .r~urit~ intrrest f~~n c~~u~ch~.ld :+pplianccc. (cl a tran~fcr h~~ devise.
~1c~~ent or h~~ a~xra~ion of I:~w upon thc ~Irath rf i~~int tcn~nt ~~r t~1~ thc eram ~~f an~ Icasch~ld intcrest i~f thrcc ycars or lest
rn,t containine an opli..n t~. ~urch:~tir. 1 enJer mac. :i1 Len.ier'. ~.ptinn. declar~ aN the ~um~ ,eci,red hy~ this ~lortgage to be
~mmcdiatrh duc and pa}ahlc. I rndcr ~h~ll h:~.c ti+:u+c.i ~nrh ~~p~ion t.~ accckr.~tc if. pri~~r [o thc .alc or transfcr_ L~nder
:;nd thc pcrwn t~ whi~m thc Pr~~~xr~r i. tu t*c ~~d,i c+r tran~f.rred rcach a,~rcrm~nt in unt~ne that thc crcJit c~f surh ~x:rson
satitifacton~ t~. I.cn~l~r and that thr irt~r~.~ ~.~~.~htr ~m ~hr ~um. ~rrurrd h~• thi. !11c~rtgagc ehall he a~ surh ratc ac I.ender
.hall reque~t. If-1 endcr ha~ w•aiticd thr .~p1i~~n t~. :~~~.~~r,str pr~•~•id«1 in thi` paragraph 17. and if Borrow.:ri successor in
intcred ha~ cxccutcd a w~riltcn .~scumption aer~wmcnt accr~teJ in ~.ritin~ h)' L~n.ter. Lcnder shall relcase Borma~cr from all
rblie~tions ?mdcr this 111ortgagc and thc Notc.
If Lender e~erci~r~ such uptii•n t~~ a~.elrratr. I rnJ~r ~hall mail Borro~~er nutice ~f acceler5ti~m in accordance K•ith
~ paragraph I~ hcrcof. Such naticc ~h:~ll rrav~dc ~ri~xl ~~f nrt lec. than 3(1 .ia~~ fr~~m thc date thc noticc ic mailed within
:~.hich Bs~r~r~+cr ma~~ p:n- thc ~ums dccl,re.i di~e. If B~~rrr~~rr f.iilti t~. pa~• +urh ~am~ prior t~ the c~pirati~n c~f <<irh pcriud.
Lcnder ma~•, with~~ut furthcr noti~r ~~r.lcmand un It~~rr~~ucr, im.~I.c am rrmedics ~rmitteci h~• paragraph 1R hereof.
Q No~v-U~iFORrt Co~~Fx.~*~7s. Borrower and LcnJer funher rnvenant and agree as follows:
18. Acceleration; Remedies. Fxcept ac pro~~ided in paraRraph 1'I hereof. upon Bonower's breach of an~ co~•enant or
~ aRreement of Borrower in this ~io~iga~;e. inciudin~; the covenants to pay when due ~ny sums secured by this ~1ort~age, [.ender
prior to acceleration shall mail notice to Borrow~er ac pro~ided in para~raph 14 he~eof specifyin~;: (1) the breach: (2) the actan
~ required to cure such breach; (3) a date. not less fhan 30 da~s from the dale the notice ~S mailed fo Borrower. by which such
breach must be cured; and (4) that failure to cure wch breach on or beforc the dale specified in the notice msy result in
acceleration of the sums secured by~ this ~tort~age. fonclosure b~~ judicial proceedinR and sale of the Property. 'Il~e notice
chall further inform Borro~ser of the right to reinstate ~fter acceleration and the right to assert in the foreclosure proceedir~
the non-existe~c? of a def~uN or am• other defence of Borrow~er to ~ccelerotion and foreclosure. If the breach is not cnred on
or before Ihe date specified in the notice. Lender at I.ender's option ma~ declarc all of fhe sums secured b~• thi.c 111ortgaqe to be
immediately due and payable without furlher demand and ma~ toreclose tl~k titortRage by~ judicial procetdinR. Lender shall
- be entided to collect in such proceedin~ all ezpenses of fareclosure, inclu~inq. but not limited to. reawnable attorney's fees.
and costs of documentary evidence. abstracts and titk rcports.
14. Borrov?~ers Right to Reinstate. Notw~ith~tanding I_encicr ~ a~cclcration of the sums ~ecureJ by ihis :4tortgage.
Borrower shall have the right to have any proceedings txgun by Lender tc+ enfarce this Mortgage discontinued at any time
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