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HomeMy WebLinkAbout0951 I rn.ir~'. ~~nUrn .i~;rrrm~•nt ~~r .~~~pii..~hir L~t~. li~~rr~~~~~r ~h.~ll ~~a~ ~hr ann~unt .ill mi~rt~.~~;c in,u~.~n,r ~~rcA~iuin, in thc m.~nnrr pi,~~i~1r~! unJrr {~.tr.~?~.iph ' hrr~ul 1m .itn,~:ii~1, ~l~.t,~inrd h~ ( rn~lcr ~~ui.~i.~nl tr !hi. {~.~r.~~r.~~•h ~ ~~~~h :ntrrc.t Ihcrr~~n. .h.J! hr~~,inr :~~lJ~U~~n:~l ~I1.}ih'i~~tli~~ ~'1 ~~iNIi~N~'C ?t~ItfC~i h\ 1}ll? ~~~~(i~'.II;C ~ n~C~~ {~i~ff~~~\i'I .1I1.~ ~ clh~~f .1:!:l~' 1~` t~lflt'f ICflll? ~~I F~:~\~I11CIU. ~U:FI .~m,~nr.t, .ti.ili hr ~~a~.~hlr nj~,~n n,~u:r tn~m i~•n~1r~ 1.~ li,~~~.~~.ri tr.i+i.~iitit j~a~fn.,+t ~h~•tr„I. ;u~~l .li.~ll h~.~~ intrrr~l fn,m lhr ,titr ~ti Ji.hur.~mcnt al thr ratr ~~:~~.~f•l~• fr~~t~i limr 1~• ~imr .~n ~nn~t.mdinc ~~~~n.ip:~l iindcr thc \~~~r unlr.. pa~~ment .~f intrrc.t ,u.h r.~tr ~~~,ul~~ t•~ ~.,ntr:u~ i,~ :~~~pli:ahlr I.~~~. in ~?hiih r~rm ~u:h :ui~.~~uUt tih;~ll ~;:y i:itcrr.~ .~t tl~r hichc~t r.~tc ~rmzc~ihlr ~milcr :~~~I~~:~hl~ la~~. \„thin~ <<~n~:~ihc~i in Ih~~ ~~:~r.~er.i{~h 7.h:tll r~q~~irt T cnd~~ t~• inc~ir anc ~~p~n:c c.- +~ke .~m :i:h~,n f,rrrundcr. 8. Imprcfio~. I rn~lrr mac malr ,~r:.~i~.r t~~ h~ meJc rr.~~~~nahlr rntri~. ~i~n~n :~nd m.pr.t~;~n..~i ~hc Pr~~{•~rt~~. ~n~~i~lr.l th.tt 1 rn.t~r .hall ci~~ Buni,~~~r n~~ticr ~rirr ta :~n~ ~u~h ~n.~•r.tn~n yk~+f~ink ~r.~,~•nat:lr .-:~u.~ thrrrl~~r ~~lalyd I ~n~i~r'~ ~ntrrr•t in Ihr Pr.~{xrtc. 9. CundemnatN~n. ~~hr ~•r~~~rrd. ,~f :~m• .~Hard c~i rla~m fur ~t~macr,. ~lireci a~ c„n.cyu~nti:~l. in ~~~nnr:~i~.n ~cith :~n~ ,.,ndcmnati~~n ,~r rth~r t:~~.in~ ~~I' thc Pn,~,rrt~~. ~~r part thrrr~~f. ~•r f.~r runvcyan~c in licu uf ~~~ndrnin,~ti~~n. :~rr hrrrM~ :~..i~nrd .~nd .hall h~• ~~aid t~~ 1 Cnd~r. ln ~hr ~~'Crlt c~f t~H:t~ 1:~{.i~e~ of the ~R~(k~tt'. 1hC ~l~ka•ti~~ ~fl:~ll hc :l~~p~iC~~ 1~+ If1C ~t~nlt ~i':u~r~~ f•~ thi. ~l.~r[~':~C~. ~~ith Ihr ii am. ~~:u~l t~~ Fi~~rr.~~~~r In ~hc r~•cm .•f a ~~urti:~l t.~lin~ ~~f th~ Pnipcrh. unlr.• Rr:t~~~~~r a~~d Lcn~trr ,.shrr~~i.r aLrr~ in arit;n~. th~•rc ~h.ill tx ~~~(~IiCJ ti+ Ih~ wmc ~~i~rn.l h~ ~n~• '.i~~~~..~~c •~~.i~ p~::`T~:~•':~"' c+f Ihi F~~~ti~cd~ .ic i. ~yu.~l t~, th:u p~~~p.~rti~~n ~~hirh thr amaunl thr ~um~ .r:nrcd h~ th~. \1~•rtt:~_~r immr~li:~trl~ ~~ri~~r t~• th~ datc ~~f tak~ng Fx;:?r. ?n tFk fair market r•alui of ihe Pro~xrt} imn~r.ii::tcl~• pr!~~r 1~~ Ih~ .I;~le ~~f ~a1~~nL. «ith Ih~ h.~l:~nir ~~f Ihe nr~yCC~tt p~id t~~ B~~rr~•«cr. If thc Pr.~~r1~~ ic ahand~~nc.l h~ R~~rn~~~rr. ~~r iL aft~r n~~ti,~ h~• 1 rnd~r ti~ Rurr~~a~r Ih:?I thi :c~ndcmn~~r ~~fTcr~ t~ makc :~n au.~rd ~~r .etUc :i :laim f„r ~lama~,r,.. B~~rr~~w~r fail, tv rr.~~n~l 1~, 1 rn~l.•r ~?ithin ~II iL~~. .~ttrr thr ~1atr w.h m~ti~r is m:uled. I.rnJer it ai~thc?ri~rd t<~ c~~iii:t and :~p~l~ thr pnlrcd~. :~t I ~n~icr~. .,{Hi„n. rilh~~ re.t~u:?ti~,n ~,r rcr:~ir c~f the ~ Pr~•~rn ~~r h~ Ihe ~um. .r:ure~l h~ thi. ~1:~rtt.?gc. l'nl~;. Lrn~kr and Bc?rr~,~~~r ~,Ihcr~~i.r agr~r in ~~ritim•. an~ .~i:h a~,~l~:.~t~~~n ,,f [~r~rcd. t~• ~rin:i~al .hall n~•t c~tcnd ~,r ~~~I~,n~ Ihr dur .L~tc tt~~ manthh imtallmrnt. rrfrrrcd t~~ in ~.~r:~~r.~{~h. I:lnd herc~~l rr ch:~n_•r Ihc :~ni~~~int ~~f .uch m.t~llmcnh. 10. Borrnwer Not Relea~ed. I~~temiiin ~~f ~he limr f:~r ~~:~~men~ ~~r m~~difi~nti~~~: ~~f .em.~rtiiatic~n ~~f th< <um. ~rcur~d h~• thi. ~1~~rt_•a~i erantci! h~ I rn~lrr tr ;?ne .u.cc~.~~r ~n imrrr.t ~~f Brrn~~~rr .h.~ll m~t ~~{•~r,~t~ t~~ r~ha«. in ant~ manncr. rhr liahilit~ thr arieiieal Rorrc~~~cr :ind H~~rmarr'. .~i~~r~.~.r. in im~rc:t. Lcn~lcr ~hall ~~rt F+c rcy~iirr~i t~~ ~~,mmcmr {•nkr~.linc~ aE:~in~t cuch ~uc:ec:i,r ~,r refuk t~, c~IC~J nm~ f~~r ~a~mrnt c~~ ~~thcr~~i.r ~>>~...1'si~ ant,~rtiia[i~~n ~,f thr ~umti .~:ured h~ thi~ \1~~rtt1s;~ h~ ma~~~n ~~f .im dcm:~ni1 m:~dt h~ th~ ~~rieinal R+~rn•~?er .~n~~ R~~rn~~ci•r~ ~ti«~•~.~~r. :n iMCrC•~. I1. Fnrhearan~•e h~• I.ender \nl a~~'ai~er. Ai~~ f~~~Fk:u.in~r h~ 1 ~nii~r in e~rrri.in~~ :~i~~ ri~_ht ~~r t~mr~l~ hrr~'nn~ler. .~r ~~thrrWi.~ a1F..rded h~ applicahlc f:~~~. .hall nc,~ tx uai~~r ~~t ~~r ~+re~l~:dr ~hc ~~crci.r ~•f :im w.h ri~_ht +~r r~mtdc "Thr preki~rcment in~~iran~e ur Ihc p~rnient ~~f t.~~c. ~~r ~,th~r I~cm ~~i charticc ht 1 rnder .fi.~ll n~~t hi ~~.~i~cr rl 1 rn.l~r'~ riL'ht I~~ a:r~l~rat~ th~ maturih ~~f thc inJ~hti•dn«~ .c•_ttr~d hc thi~ ~1ortLac~ 12. Remediec Cumulati~-e. All r~r.ie~li~c ~.n~~idcd ~n thi. \1~~rtiac~ :~r~ ~li.tinrt :~n~l ~nmula~i~r t~~ .~n` ,•t}~~•z riiht ~~r remetl~~ undrr th~. ~1~~rti:~er „r atT.~rdrd h~ law ~~r ryuitc. :~n.l ma~ Fx r~~rci~i~i c~~ncurrrn!h. inde~~rndenih ~~i:~~,.i~~h ~i. Succeccorc and A.siRnc Boimd: Joinl and Se~era) l.iabilih: ('aptionc. l~he :.~~rn:?ntc :ind a~~r.rmrnt. hrrein ..~n;ain~.i ~hall hin.l. and ihe ri~hlc hrr~undcc ~h:~ll imirr tu. thc rr.~c~ti~~ wi~r.~~~n a~ul at~i:m ~~f l~n.irt .iit~1 R~~rr~~ti~r. .uhjt~t 1~~ ~h~ pruci.i~~n~ nf para~r~ph 17 h~r~~~l. ~\II cu~•rnanh anJ a~~r~•cmrnt. +~f R~~rn~~+~r +hall Fk i,~.nt .~n~i .~~cral. Tlie ia~hc~n. :in~t h.railin~. ~~I Ih~ (~~r,~Lr.i~h. c~f Ihi~ ~1rrtLaL. :vc f~~r i~~m•enien.~ ~~nl~• .~nJ :~re m~t t,, t.~ n~~d tn ~nt~r~rrt ..r detine Ihi ~nn:~irn. fTerei~f. 14. \otice, F~ic~~t (~~r :~m rn~ti~c rryi~ir~d unJer .it~E~lirahl~ I:i~+ t,~ h~ _~trn ~n an~~thrr m:~nncr. :i~~c n~,ti~c t~ {;~~r{.iNl'f pru~•ided f.~r in thi. \lrttt:i~_c ~h:?II ix gi~~~n h~~ ~n:i~lint ,u:h n~~t~cr f~~ iir~ific~l mail :iddc~~.~d tr Ri~rr~~~~~r at ?hr Pr~,}•urt~ Addre.. rr :u .~irh ~~~hrr :~ddri.. B~~rr.~~~~•r n~:~~ dr•i~~n.~~~• h~: ,~,~!i:r t~~ I~nilir a+ ~nni~ir~t hrrcin. .~nJ rh1 :~m +Z.~hc~ tn 1 rn~i~r ,h.sll h~ ,•i~cn h~ ~crtifir~i mail. rrtutn ~.~ci{~. r~yi~~.tc~i. t~. I rnJrr~. ad.ir~~. ~t.it:d her~iti ~~r tn .u~h .~Ihcr ;ddrec~ I r~id~~ ~~at d~~i~nat~ h~ ~n~tiir tr Fi.•rr.~~~~r :i. ~~rr~i~tr~l hcrcin ~m nrli;e [+n~cidr.l f~~r in thli ~tu~tg;+e~ ,h.~ll t.r ~crmrd t~~ h:n~ b~rn Li~rn t~~ S~•rr,•~~rr ~~r 1 rn.1~•r ~.~h.•n ;~~~cn in thr m:mncr dc.iLn:?trd hrrrin. r. 15. I'nif~~rm ~1ort~aKe: Gu~ernenR (.aN: Se~crabilitc. fhi. ?,~~m ~~r mrrtca~~c ~~~mhinc~ ~inif~~rm ~~~~~rn.,nt. f~,r nati+•nsl ~ ~~a• :inJ ri,m unit~,rm ~~~~in:~•it. .~ith limitr.t ~.~riati~,n. M j~iri.~l~;r.~~r t~~ :~~mt+ttttc a unifornt cr:uril~~ in.trumcnt ~~~~•a:rine re.il pr~•~rt~. Thi. ~1urt~.i,~ ~h.~ll Fk L~~r~rn~d h~ th~ L~~~ ~~f thr iuri.~lic~i~~n ~n ~~hiih Ihr Prc~~.~rt) I~w.~trd In thc ~ r~~nt !h:~t .,n~ rrrv~~~~~n ~~r ilat~•r ~~I thi. \1~~npa~~c ,~r thc \~rtr ~~~ntli:;. ~:~th ,nrii.~,hl~~ I;~~~. ,n~h ct~nili:t .!i:Jl n~•t :+tTt~t i ,~th~r ~r~~~;.na~. ~.f th~~ ~1~~rt~~:~cr ~~r thr \~~tc ~tihsih ,.~n hr _:~.r~~ rtTr.t ~.~i•h~.nt Ihr :~~nlli:unL ~r~t~i~i~~n. :~nJ t~~ thi; 's ~r.il Ihr t~i.~~i~i.~m ~~f Thr ~1~~rtC:t^_r .+n~1 lh~ \~~t~ .~rr ~I~~I.~r~~1 I,~ ~~i .r~•cr:~hl~. 16. Born~wci~ ('op~. Born~~~~; .h:~ll h~ furn+.h~J :,m~.~rinrd ~~t th~ \~~ti .~rn{ ~~f thi. ~I~~:t~z:~c~ :rt Ihr t~mc 3 • ~ ~ ~ ,~i CiC..~:i1~u~ i~~ .~iici fc.~~{uaiii~ri uiiiJ~. ~ 17. Tran~fcr of thc Prupert~::~~~u~nptiun. (f :~I! ~~r :~n~ F,.~: t ut !hr Pr~~~xrt~ .•r :in intcre~t thrrcin i. ,~~Id ~~r tran.ferrrcl ~ t.: Fir?rut?~r urth~~iit I.~nd~r~~ rri~,r ~~rittrn ~~+n.rnt. r~_lu.liii_ !hr :r~:iti~,n rt .c lir~i ~~r enrumhr:+n:r wh,~rJin::te t~~ ?ti~. ~1.•*te.~ie thi th~ ~rrati~~n ~•f ~~:~r:h.~.~• m~~nr~ .~.i<<i1: •~itcrr•t f~~r h~~i"rh~•l.l :~{+~li:~n~~~. Ic~ :i ~r.in.(r~ h~~ dC~•itr. ~ .1t~~.nt rr h~ ~~E~~r.~Iic~:t ~~f I.~~~ u~~~~n thr al~:~lh ~~t t,~int I~•n:~nr v:,}~ thi ~_r.int ~~f .~n~ I~;~~ihrW im~(etiI ~~f thrir ~~.+r~ i~r 1~~~ F •s~.t .nnt:~inint an npti~~n A~ rt~rih:icc. I cm1~r tn.~~ nt I rn~lr~~ ~~~~t~,~i~. tlr.~.~rc :~II thr ~um. ti~.~ir~d M thi: ~trrtga~_e t~~ h~ ~ mm~.li:~t~h dui :~nd ~+a~':~hl~. I indir :~~ell h.t<< .+~:h ~~~li,,n t~• :i~i:l~r.~ir it. rri~~rt~, tfi~ ~.~I~ ~~r tr:tn~fcr. 1~n.l~r ° .m.i thr Exr..~n r~~ whrm thr Prr~•rr1~ i. t~~ h~• ..~1:! ~~r ~r:~n,trr~c.f r~.i;h .ttr~rmrnr in ur.tine th:~t thr :rr~iit ~~f .u~h rer,~~n ~ tiati,fa.trr~ T rn.lcr .~nJ'hat Ihr intrrr~l E~a~nhlr rn thr ~um. .rc~~rrJ M thi, ~1,~n,_aLr ~h,ill t+c at st~:h r:~tc :i. 1 endcr ~h:J! r~:~u~•t. If 1 cndcr h;i. w.t~~c~l Ih~• ~~F ti,~n tr :~~~~4r.~ti F~n•~i~lc~~l in thi~ ~.~r,~!_r.iE~h 17. and if B~~rR~~c~r~~ ~ui~C~~~r in ~ mh•r~,t ha. c~e~utcd a~?ri~~~n as~umpu~+n .~ir~cm~nt a~:c~~«I in ~+rium: ht I cn.k~r. I.rn~icr ~h:~li r~lra.c Bcurc~lc~r fr~~m all ~ ,+hllLat~.•m unJrr thi, ~fi+rt~z:~~sc and Ihr ~r~c. ~ li 1 Cnd~r ~~~~~i~t•~'.uih i,ri~~~n ti~ :~~:cl«.it~. (~n~Iir .h.~ll rtt:~il B~~~rut~ir nt~ti~t ~~l :~~~elCraU~~n in :~::~~~~1:iniC •~irh ~ ,~.ira~r.~t~h 1-3 hcrcnf Su,-h n~~tice •h.~ll y,r~~~•i~k rrr;,~~f ,~f n~~t Ic:• than i~l ~lac. fr~~m thc da~r the ni~ticr i~ mailcd ~~i~fiin x •..h!.h B~~rn,~?~r m:i~ ~~.~t thr .um..IccLuc.i :1t~r 11 R~~r~,~~~rr t.~~l. r~~ ra~ ,t~:h ~tttn, pri~,r t~~ Ihc c~~+ir.tU~m ~+1 ~u:h rrr~~~d. ~ I rmlrr mec. ~~~thuizl h~nhrr n~•t~~c „r ~i~m:md ~~n Ii.~:r.~~~cr. ~n~r1.r :~m r~rnrdics ~rmqtc_I hc para~:raph 13 hcrr~,f. ~ • ~ ~ ~ \~~ti-("~i~~rt+~~ (~~r~t v~~-r, Bi~rrc.wcr an~l I~n~cr turthrr ~r~cn:int :?nJ aercc a~ (~Ilowc: ~ 18. Acceleratinn; Remedies. Frcepl as pro~ided in parakraph 17 hereof, upon BormNerc breach of am• covenanf or - aRreement of Rorrower in this ~1ortKa~e, includin~ the co~enaM~ fo pa} when due an~ sumt secured b~• this 11ortRaRe, i.ender - prior to acceleralion +hal) mail nntice to Borrower a~ pn?~ided in paraRraph 14 herer?f cpecif~in~: (1) the bre~ch: (21 the action ~ requircd b cure such breach; (31 a date. not lesc Ih~n 30 da~s from the dale the nMice is mailed to Borrower. by which such breach must be cured; and (4? Ihat failurc to cure such breach on or F?eiore Ihe date specified in Ihe notice may resulf in " acceler~tion of the sums secured b~ Ihis ~1ortRaRe. foreclo~ure b~~ jodicial proceedin~; and sale of the Properh. The notice F' ¢ ~ha0 further inform BorruNer of the riRM to reinstate after acceleration and the ri~;ht to aecert in the foreclosure proceedir~ T the non-e~istence of a def~ult or an~ other defen~e of Borrov?er to acceleration and foreclosure. If Ihe breach is not cund on ur before the date cpeci6ed in the notice. I.ender a~ I.ender s oplion ma~ declare all of 1he sum~ cecured by this ~tortRa~e to be immediatel}~ due ~nd pa}aMe without fuMher demand and ma~ forcrlose this ~torf~ake by judici~l proceedin~. Lender shali be entitled to coUect in such proceedin~ all expences of (oreclosure, includin~;, but not limiled to. reas~roable attorne~'s fees. ~ and costs of documentary e~idence, abstr~ch and tiNe reports. ~ 19. Borrower's Ri~hl to Reinstate. ti~,tHith~tandinc I.enJer'. acceleratr.~n ~~f thc .um~ .ecureJ h~• th~~ '~tortgagc. ~ Horrower shall have the right to ha~e .~n~ pnkerJin~+ FxrL:?n h~ I rnder tc~ rnt~~rrr ~hi. ~ti~rtg~gc di~cc~nUnucd at an~ time ~ ~ ~ U ~ z8 943 ~ ~ EuuK ~ ~ACE r ~ ¢ - _ _ - - - I ~ a~ ~ ~ ~r - ~ ~ ~ ..z~~...~'°:c~ <<__. _ ~