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HomeMy WebLinkAbout0565 ( .=.,.i~r . ~.~rttrn .;~rc~un•ri .~ppli..~l~le 1.~~~ {Su~tt~~~~~ .iiaR pa) Ihc am~~unl .~f .~II mur~~agr imiir.e~~:~ ~+trmi~~m~ in thr <<.a:~c~Lr ~~cil~.f und~~r c.t.L•r.y~h hr~CUf .1~ . .~n~.,~~nt. .l~.hur~t~l h~ 1 r:t.lrr ~,,i~.nant ~hi. ~•.~r.~~t.~~~h ~~~tl~ :o~~tr~~ lhrr~.~n. ~h.ilt h~:~,tn~ adJiU~~n.J '1.'i^'i.~~li.. (~.~(f~~\\~f K:UtCI~ h\ ifll? ~~~1f1Y. ~,~1~C~~ f;~'•I~~l~l'1 :II1~~ ~ l'f1:~i1 d_L'fl'a~ 1~~ N!F1Cf ICTIII\ t~~ iiJ~flll'lll. ?llih i: ~,•,~nr. .h.~ll h~ ~•.~~.thlr up,.•i n.~u.r ir~~n~ I~nA~• 1~ R~j~lf.~N~( r~.~~~ ie {~etn?rnt thrrr~~t. .h.~i! F+i'ar ir~trr~.~ fr~,m thr ~ !:!e• .li.~urK•mrn? al th~ r.ii: n.~~.~hl~• (n~rft tldla:.t~' Urn~ ~>t~ Sit~y~~dine r~~~,.~r:~l undcr th~ \~~Ir u~IC~~ Pa)~(nent of i:;tCr~,t .it ,~::h r.it.• ~~,a~l,i :w r,+nir.~n i„ :~prl~rablc la~~•. ~n ~~h~ch ~~•~m ~~!ch amru.uc ~hal) hrar intcrlil at ihc hi$~c~1 rate ct:m..ciF1r ~indrr :~~~{~;~cahlc la~~. !~~,thin~ c~•n~ainrd in ~hic 4?araira~h 7.hall r~yiiirc 1 rndcr inrur :+n)' c~pcnk or takt ~nt ~,~s.sr. ~~rrund~r. 8. fn.prr~ion. ! cn.lrr niai~ m.~l~r ~~r ~a~n~ t~, Fk mad~ rre,onahlc ~nlri~. u~ti,n .~nd in~~xctn+n. ~.f Ihe Prr~rt}~. pm~i~kd t~st t~:i;kr .r;.ll Borr~~He~ nnu~r ~~ri,,r to :ui~~ ,uch in.~•ection ~~c~i~~nk rc.~s.~nahl~ c:ui:c tfirrrf~~r~related i~~ l ender's ~n~.r~wt en'thr Pr.~~xrty. - - 9. Co~demoatiun. The pr.a•eed..?f an~; aN;~rd ~~r :laim fc~r ~lamaerc: direet ur cun~yini,tial. in cca~necti~n veith an~• _.v?demn~ti~.n ~•r •Nhcr taling uf th~ Pro~xrt)•. +~r ~art thereof. or ft~r c~ ~m•c~•:~nce in lieu c~f c~,nd!~mnation. arr hereby ac~igned ~ ~n.f ,h~ll tt paid to I.ender. • In eh~e r~ent of a t~aal t:ilin~ r.f ~hr Pr.•~xny~. ~he pi~kcrd~ chall tx a~plie.l t,, the ~umc cecurcd. h~• thit \}ohg:?Re. ~ v?ith thr ~~_~~s. if :?ny. ~.:~id ti~ B~.rr.,wr~. In th~ e~•cnt „f a par~ial t:il,irt~ the Pro~.er~~•: unleic Ac•~n•wrr an~! i ender - ~Khrr+i,r a~rre in ..riting. thrrc th~ll he applird t~• ~hr .umc ~e.urrJ h~• ~hi. M~•nt:iee .uch ~mM~~ti~,n.~•f ~hc pr~eeds ~ n~. eyu.,l to that pr~~portion ~~hi~h 1hr amount of thc cum~ ~r:urcd h~ thi~ \lortga~c imm~diatcl~~ pri~~r t.~ ~h~ datc of tik~~et Fran to ~hr fair marke~ valuc ~f the Pro~rt~• immedia~ely p~i~~r ~o the ~iate of takin.. Nith the b;~lanre ~f the ~?rcxeedc ~?ahi t.• Bo~ r.~w•er. lf the Pri~+e?t)• i~ :~handon~~f h~~ R~~rmwer. ~~r if_ :~ftcr n~~icc M• ~.cndcr U• Ri.rr~~~~•tr that thc rnndcmnor ~ffcrt to make .:r .~Nditl .,r :ettl~ a~laim f~•r J:in~.~gc~. R~•rr~~w~r f:?i!. a. rc.Fx~n.i t<, I cndcr Hith~n 3f1 da~~• ;~ftcr thc Jate ~uch ~~~ti~e is ~~tc~d. 1_enJrr i~ autharited tr ci~lle~t and apply thc pn.c~rd~, af I ender'. uption, either t.~ rectora~ion ~~r rrpair of the ~c~~t:\ Of tc~ t~ ~URt, ~~tiUtcu ~C (flt~ \}orteaFc. l'nk:~ lcn~hr _~nd I3orri~~~rr rther~~~i~c ac~cc ~n i~ritin~_. an~ .,.:h :~~+pli:.iti~~n ~•r pn•,~ced. t.~ ~rin.i~al .hall n<~t e~tcnd .•r p...tp.,na: thc duc Jat~ ~~f ~hc mv:~lhh in.lallmrnh r~fcirrd i~~ ii~ t~.~ragra~h~ '.~nc1 ~ h~m~•f ~~r ihan~r th~ amuunt ~~f •u~h ~mtallment~. IA. Borro..er \'ot Rele:~~ed. F~ten~i ~n ~~f !he time f~~r ~.:~~m~i~t c•r m~~difirati~~n c~f amrni~ati.in <~f the wmc ~ecured h~- rh~. ~t.•rt••atic ~r.i~tcd h~• I.cn.lr~ tr a~n~ .urcc«~~~ i~i intcr~.t ~~f R.~rm~,rr ~h:~ll n~,t ~,~ratc to rrlcace. in ant manncr. r^r h.~hclit~ .~t th~ ~rig+n:~l B.~rr.~~~rr and F3orro~~er'+ su.~rc~~.n in in~ere,t. (~n.l~r ~hatl ni,t F~ reyuirrd h, ~.~mmence :-.~.rc•?ine, ~_~in.t ~i~ch ~uctc•s~?r r~ rMuk to r~Irn.I timr frr E~:+~•mcnt c~r othcr~~ i.~ Il1f4I1~~" Jfp(~7fAaf1~~(1 rf th~ ~ums .c,ierrJ h:~ the. ~i~~rteakc h~ rca,i~:i i~f :im• dcm:~n~t m:td~ h~ th.- ~,ricinal It~~rn~.~rr :~n.l B~•rr..~~•~rs cuccr~~.•r: i~i imrrctt 11. Forbearance bv Lender \~?t a K'ai~er. t~~rt+~ar~n:c b~ 1 rnd~r in c~crci~ing :~m right ~~r rcm~~1~• hcrennder. ~.r •th~rw~~ Jtt..rJc~i bv applirahlc I:+tv. ~h::ll n~.t h~ w~ai~~~ ~~1 ~~r ~rrrludc thc c~er~ice rt a~~ ~uch ri~ht ~r r~ntecl~'- TTr, pn•c.ircment of imuranc~ ur thc p~~•mcnt cif r.?~rc ~~r ~~th.r licn. ~?r ,har~~~ h~ Lcndcr ,hall not tx ~.a:u~~cr rf 1 cndcr'~ ':gh~ a:~~lrr~lr the maturit~~ .,f ~hr indchtrdnr,. .rcurrJ h~ thi~ \1i~rlgatr. -1? Remedies Cumulative. All rcmedi~. ~,m~iJrd in thi. \1~~rtgagc are dititinrt .~nd .~zmulati~~c to ;~m .~thcr .>i~ht .•r .:mrJ~ :sn.kr th~. ~1~~rt_a,r ~,r ~ti~tir~kil I:~~~ „r ryun~. .~n~1 ma~ tx r~rrciti~J r~•hcurr~ntlr. in~c~xndcnt!< <~r .~~.•~c~ii~rh. t3. Sueeeccors and ~~c'ry;ac Buuod; Joint artd Se~era! T.i:~bilih; Caplionc. "Thr c~~~~r~~antc and acr.~cm~nt~ hcrein ..~~*:u~d ;hall hin.!_ :,ncl ih. rieht. hrrcundcr ,h:~ll ~nurc t.~. ~h~~ rr.~x~ti~c ~u~:~•.,.~:. a~iJ a~.ignc ~.f I en.kr .~~zd B~~rr~~~,cr_ ~ :b;e:t t.• tt?c ~~.,~i,i~~n. •,f paraCraph 1 ; hcrt.~f. :~I! ~~n•~n.~iii. :~n,l :~_•rrrmrnt~ :,f Borru~~cr tih:~ll t?i ;.~ird :+nd .e~crat. - T'nr i~ptir~e. .n.~ hc:t~i~~i~_. ~,f tlic (~:1lJLT.~~,fi, nf thi~ :1ic~ng.~~~ arc f~•r i~•m•cnicn~e e~nl~' :~r~.l arr n~,t t~~ he uccd to ~F•_rpfl'( .~P dcfin~ :•~~C (1f~~~t~t.~t)c t1Cfl'~~~. ~ : 1~. \otke. F~:cl•t irr :~m• noticc reyuirr.l unil~r :~~~licahh la~~ tu h~ gi~•ri~ ~n a:~.~thcr manncr. la) :~m• nc~tice to R~rS.~Mif pr.,~i~d f~a m thi. ~I~~r!~:~ec ch:?I) he ~i~~~n h~ m:~:lin~ .~s:h n,~ucc h~ crr~~ficd m:~i! :~ddrc~~rd t~~ B~~rmucr at 'k~ Pr.~~rtt~ ~.lJre~. ~•r .~t .isch ,,thef .,ddrr" a: H~~rr.~~.rr m,~~ ~t~~;ei~.~tc i.c ~u+ri~c t,~ 1~nder ac prr~i.)eci hrrrin. and ct.ft.:~ t.~ 1_•~i~lrr ,h:~1f _~i~er hr certitic~l n~ail. rr!llfFl rrr~+~~: rr.~u;.trJ. t~~ 1 ~niter'. ad~lre« tl:~t~J herein ~~r to ..:h ..tF:cr e~~r~~. 1~nJrr ni.~) dc~i~natC b~ ni~tiii :i~ 13,~-r~~~+cr F,r~~~idr~l hrr~in. :~m• n~,ticc pr~~~•id~~) f~~r in lht~ \l.~rt~.~~e sh,,ll ~x .lc~n~~ l t.• h:r ~ hc~n ti~•~n ~t~ B~~rn~~~rr I~n~~~r ti~h~n ,~~c~n ic thc ma»ncr ck~ignated hCrcin. 1=_ [~niform ~lurix:~c: Co~ernin~: i.•rN: Se~erahilih. (iu. t~,, ,~f mrr~~:i~i . ~'RiF~itt+:~ unifc~rm i~~ver~:~nt~ f~•r r.ati~~n~) ;r.i ~•,,n-ca:~i£.••.ii :~;r•~:~:d. t~ith lirt~iir~i ~arian~~n, t~~ juri.~ii.~~,.n i~~ :.~n~tit;~tr unitorm krurit~• ir.~tri~mcnt ~~,crr~ng 'Lai ni~~prm. Thl. ~1.xt_~a_~ ch:~ll Fk ~,t?v~_rn~cl thr 1.~~~ r~ I~t~ ;uri.~li~U.~n ~n u•hich lh~ PtopCrl~' a~ I~.~a~rd. In thc ~tir~t •hat .:nc ~n~vi;~.,n ,•r ~I:ui•< <~f thi. ~iortga~~r ~~t tht \~~t~ i.~ntl~,t. ..ith .~~plic.~hle la~~. ~z~.h rnnfii:i .hail n~~t aficct =~the• ~r,:::.i.~m .~T th~. \T.~r!~:~~e ~~r Ihc ~~~ti ~+hi~h ian hr en~n ~tTr:t ui!h~~ttt the c~+«lT~~inL pr~•~•i~i.?n. and l~~ this i thr c•rr,:e.i.~n, ~,f !hr ~t~,rt_•a~c and thc \~~ti :ur ~ir.l ~:cd t~~ t+i ~r~~crahl~. 16. Eorn...ere ('op~. Brrru.~cr ~hal! h~ furn~.hr~i ~.•ntrrn:r~3 •h~ .:n.t .~f thi. ~1~~rti~gr at the time ' e~e: ;ti~,n .~r .~'t~r r~:.•rdation hcre~•f. 1~. Traa.fer of Ihe Pn?pert~: :~~tiwnptiun. If ;~li ~~s :~n~ ~•,~rt .~f ?h~ Pr~~~crtc ~~r :n~ mtrrc.t th~rcin .~~lil nr t~an~(erred B.~r:.•r~r u;th.~:it l.ind~r'~ pnrr »rittrn .~~n•~n~. c~.l~~~iin~ ~.~1 Ih~ crc:~t~ ~;L~,t a'.i~:i ~~r cncumhran.c ~uh.~r.l~natc tc~ •h:- ~1, r,.~_e. thi the cr~ali„« .i purcha.~ nu~nr~ .r:urii~ inlr~e,t trr h,~u.ih,~1.1 ;~,~~•li.~n~~~. 1~~ tran~frt h~ de~~ise. .ktcrtt ,•r .~~r.~tion ~.t I::~~ up,~n thr i1~:~tF " i,,r+~t trn:m~ ~~r t.i~ thr _•rant ~~f am i~:~ti~'u~Id +nt~r~st ~~f thrr< <r,~r< <~r Ic<.~ ~,.t ~c~n[~sninx an ~~pti~~n h, ~ur:hasr. 1 rn.l~r ri~.~:. :st 1 rt~~rr'~ ~~~~;~~~r~. dect.~rr all ~hr ~um, ,e:ur~J hc th?s ~ti,rtgage t~ Me _ :z~ic.l~.~trtti di~~ and ~a~:+hlr. I~ndrr ~hall h:~~r :..u•..~i .r~h ~.pti~~n t„ :ii~c!~r:,~c if. r+ri~~r the wte „r tsancfer. Lender ..:.i the ~~'~~•n tct ~~ht~t1~ tha Prr~x~n i. t~~ 1,~ .,,t.! :,r tr.:n,trrre~~ rra;h .:,rrrsncnt in ~+n~ing 1h:~t th~ ~r~d~t i~f ~u:h perton - i~t~.fa:a.n a~ 1~r~.lcr ,uid th.~t thr intrrr~~ ~~a~.~F.lr .~n thr .:~r.i, ~«ureJ h~ ~hi, ~lortkagc ~h:dl tn at cu~h rate a~ l.eoder .~~.,ti reyu~~.t~ If i rnJtr h:?~ «;ii~rJ thr rpti~+n i,~ :?~~r1er:~!r pr~~~•iJr.! ~r~ thi~ ~ar.i~ra~h 1?. ~nJ if B.~rr~~~~cr'~ ~u~cetse~r in ~nter~-,t ha. erecutrJ a~~rittcn assum~.u~~n atrrcm~nt a~rrF•trd in ~+ritiii~ hc I en.3cr, I.cnJer .hall retca.e B~~rrower fr~~m all .~t~~~.,:i~.m un.ier thi. ~t~•rtg:~ec and thc':V~tc. If 1 rnder e~crri~c: ~aich „pti~.n t~~ :?c~rler.itc. f rn~lcr .fz:~ll m:,i[ B~,rr.»~er nuticc .~f acrrleratii~n in ;~.cnrdance u~ith :~ar,?graph I-t herr~~f. Surh nutire .ha!( ~roti~f~fr t~~riril .•f ~~nt lr.. than 311 ~l.n, fn~m the Jate the noli:e ic mailed v+?i~hin •..h~:h B.~rr~~~~~r n»~ P.~~ thc wm. ~e.larc~l di«. It l;~~rr,~.~cr f.ui. t~~ pcn wrh .,im~ priur ti~ the c~pir:~ti~~n ~~f w:h peri..d. I Cq~i: m.~~~. ~.ith~~ut turthcr n~,tic~ ~~r.lrm:u~d c•n K,•rru~~~rr. ~m~~~}.c am rcmcdics ~xrm~ttr:1 M~ paragraph IS hercof. - ~o~-L'vtFOR~t Co~'F\atiTS. B(~lfi~K'Cf ~f1tl LCtI(IC~ fl1~1~lcf COYCf11I11 and agrce as foll~ws: 1$. Acceleratan; Remedies. Fxcept a?c pro.ided in para~;raph 17 herer?f. upun Borrovse~'s brcach of an~~ co~enant or a~rec~cot of Borrower in Ihis ~toH~a~e. includin~ the co~enants to pa}~ when due ~m~ sums secured by this ~torlRa~;e. I.~nder ~ ~rior to_xcekration shall mail notice to Borrower ati pro~ided in para~raph 14 hereof specif~iry~: (1) tbe breaeh; 12) the action re~ryired to c~n sach breach; (3) s date, not les.s lhan 30 da~ti from the date the notice is mailed to Borrower. by vrhich snrh brtscb roast bt cured: and (4) that failure fo cure such breach on or beforc Ihe date specified in the notice may resntt ia xcrkntion of the su~ secured by this ~fort~aRe. foreclo~ure b~~ judicial proceedinR and sale of tbt Propert~. '[be natice siaY torther iaform Borrower of the rii;ht to reinstate after acceler~tion and the riRht to acsert ia the forecbsuire procetdiug , tre eow-etisteac, of ~ def~uk or am• other defence oi RorroNer to ~cceleration and foreclosure. lf the breach is not cnred on o? 6elore the date specified in the notice.~i.ender a~ I.ender's opfion ma~• declare 911 of the sumc secured b~ thic yort~a~t to be i iatw~ed'estel~ due and payabk without furlher demand and ma~~ Foreclou this ~tortK~e by judicist proceedin~. [.eader shall - be estided to colkct in wch proceedin~ all expenses of foreclocure, inclading. but not limited to. rcawa~bk ~iornty's fees. 3 ar rasts af docnmentary es-idence. abstracls and title reports. , l9. dorrowePs Rig6t to Reinstate. 'v~,twith~tanding I.cndcr'. arcclerati~n of the sum~ sccureJ b~ th~s titortgage. ~ Botrower shall have the right to have am proceeding< t?~¢un hy 1_enJer to ~nf~~rce th~s ~tortgajte disc~ntinued at an} time ' ~ ~ s : 278 ~ 5S4