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HomeMy WebLinkAbout0725 1 rn.l:t'. t~r~~t~n .~~rrcm~~;t :~pE,li~.~hlc I.~H K~•r~.~~..~? ~h.~ll th.• ~muunt ~~C .ill nt~~i~,.~~.• in.u~.~n.r prrm~iu~n ~n Ihr n~:itiu~r {~r.~~~~l:,i unil~r { ai.it~r.~ph ' it~r~ul. r~m :irn.~t~nt~ ~l~.h~~rc~'J h1 ! rn~lc~r p~u,~~.,nt thi, t~.ii.:i~r.~~h 7. ~~~tii uilrtr~t Ih~r~.~n ~h:Jl hriuntr ad~lili~~nal ? in~l.hr~~ni.~ ~~1 li,~n~,~~~t ~~:nr~d h~ Ih~, \irt~c.~_~ 1~i!._.. R.~ir„~.r~ .~n;t I cr.~lrr :icir~ t~• ~~~hri l~fr.t~ ~?m~nt. .uch ~ :~~i~~~nnh ~ti:dl Ik ~~atahlr u~?,~n n~ai:c In~m 1 c~~~lr~ t~~ R,,rrr~~rr rr.~ur.tin~ {~,~,.mrut !tu:rw~f ~1~th:~ll h~•ai~~h+tt ~mm ihc .~.~Ic ~?f ,1i~h~ii.cmrm a1 tt:: ratr ~..~~..~ht~ ir~~m tim~ t~~ tintr ,~n ~.i~~.t ~nJine ~rin:~pal t~n~Fthc ti~~tr unic.. paymcnt ot ~ tntet~•~I at st+ch r.~t~ ~~.~ul~i hr <<~r~lt:~i~• tn 1 4!:!+y-iu uhi.•h rtient curh am,,un~ti ~h:~ll hear intcre.t .n thr high~et rate ~ ~xrmizsil.Ir ~m~!~r :~~pl~c,~hl~ i:?~~. \.,thing~r~~tri~tii~ tfii. paragraph 7 chall rcyuire ! ~nJcr incur am• r~~x,ntic or takc .~~y :~~tiun hrrrundr~. - 8. Inspeclion. i cn.ier ma~• m.~i.~ ar ~,~~i.e 1o he m~ac reac~nahk ~ntric~ ~+p.~n :~nd it~~pr;trr~i. c.f Ihe Prn~x?h•. prm•ided th.~~ ! cndcr ~hal! g~~c $vtruN~r h.~ti~c priur u, :,n~• ~i~rh in~pcui~ai ~~~ih mg rr.~sunabl~ :;~u,~ thcrri,~r rel:~t~J t~. I cndcr's ~ in~.~~.ct ii~ thr Prc. •rtv. 9. Condemna~bn. Thc pi.~ce : ut :~ny awa~ or r aim or udf11J~;C5. ~ Ifcit or c~~n.ryiir~it~a . ~n r,~nnr~ u,n any ~ondcmna~iui~ ~~th~r taking uf thr Pro~xrt}~..fr part ther~a{. or fora~nveranrc in lie~+of rondrmnaliun. :~rn c~rcM• a~~i~ned = and ,h:~ll t+c ~aid t~ T.endcr. ~ 3 In ~h~ evenf of a t~ ~al t:~kine ~t the Pro~xrty. Ih~ prnceedc chall hr :~E~plied tc• the .umc cecurcd hv thi~ Mi~rtgaQC. ~ N~ith 1he etrecs. if ~n~•. r:ud io RUf1Uw~~. )n ~he event of a partial ta~inF c~f the Pro{~ert~•. +mtec~ Bc+rm«er and I.Cneler t .?thcrwi.r agrce in µrit~~„e. thcn ;h~ll he a{~pl~ed t~ the ~umc ,ec~~reJ h~• thi, !11 ~rtgake .uih ~.mM~rtii~n ~~f Ih~ pr~~eedc as i~ cy~wi to that pr~~Er~itt„n Nhi:h Ih~ .~r~tc~u!~t of thc cum~ .crnrcd h~ thiti ~I~~rlc:?gi immrtli:~lcl~• ~,ri~~r t~. the dat~ of taking hean t~ the fair mark~t valu~ of the Pmpert~' intmeJiatel~• ~ri«r t~ thr ~late of r;iking. i~h ~hc halanrc c?f the prorcedc ~ paid B~urow•cr. lf the Propert~• ic ;iband~ned t+~ Ai~rru«~er. ~u if. ahrr n~tice h~• 1 en~k; 1~~ A~~rn~~~•~r that th~ condemn~~r ~fiers to make ~ an :~w•ard ~.r ~ettl~ a cla~m Inr dan?a~r,. R~•rr~w•rr fai!. t~~ rr•{x~nd i~. I endrr within z~ da~, after thc d:,te ~~irh noticc is mailc~l. t.cn~l~r i. author~~cd ~o coltc~t and apply thc pnkrcd~. at I.cndcr'. ~~ption, ci~he~ t~ rc~~ora!ion ~r n:pair of thc Pro~xm c~r t~ thc ~um. .rcur~~l h~' Ihi~ Mi,rtRag~. - l'nt~s. 1 c«.icr ::nd R~truurr ~~thensi.r ~Eric in writin~•. am .;:.fi .i~~~~l~::~ii~~n ~~f prctiecd: t~~ rrinripal ,hall nnt c~tcnd or M,~tp~,nc ?nc duc ~I:it~ ~.f 1!?c m:~nthh• in.tallm~nt. r~fr~rrd ~•:~r:?s~raE~hti 1 and' herc„( rr chanc~ thc am~.unt i~( wcli imtallmcntc. iQ. Rorrow•er \'ot Retea+ed. F~Iencion t~f thr timr f.~r ~:nm~•r~r ~~r me.clifi:.~ti~~n nf 7Rli~II1"l81!(~R ~~f the wmc cecurcd b}• th,~ 11~~n~~,:gr ~nnlr~l M~ ! en~ler tr any ~urce~tur in irurrr.t ~~f R~~rm~ver ~h;ill nn1 ~~pcratc ~t~~ rrlcace. i~~ an` m:~nner. th~ ir.~t,ilit~ ~.i thc ~.rigi~~.~t B.~rr.~"er and B~,rrowir'. cu~~~s,or~ in intrrest. l rnder shall n.~t hc reyuir.•.I t„ commenec ~ ~~~~..cc.lin~ti agamtit cuch s~,:cc«ur ~.r refuc~ t~~ ~~trn~l ~imc f~~r pa~~mcnt ur athcr.~i« m~~iiP~• am~~rtizatinn ~~f thc sums ctcurecl h~• Ihi~ Vvrtga~e h~~ rc:t~~~n of :~m iiem:~nc! mad~ hti th< <~ri~i?~a~ 8~~rr~~i~cr .~nc1 Bnrn?wrr's cucce~~~~r~ in intert:t. 11. Forbearanre by ~t.ender \M R'ai~er. Ai~~ f~~rtx~aran:~ h~ 1 rndrr in c~crri~ire :~n~• right t~r r~rnrd~• hcr~undcr. or ~ i ~~the[N~i~e a~T~,rJeJ h~• apptirahle l:nt _ tih:itl m•t he wairer ..1 ~.r pr~clude the c~erci~ ~~f an~~ .uch rieht ~r rrmrd)'. Thc ~rc•~urement of incu~anrr ar thr p.~~•ment ~~f ta~r~ rr ~ahrr li~:ic ur ~f~ar~~c M• i..:r~drt ~hall nn: he a:~ai:er ~~f I cn~ter ~ rieht t~~ a~r~?cr.~tc thc mati~ritc ~~f thc irtdchtrdn~.. ~r:frr~i! hr thi. \1i~n:t~er. 12. Reniedie+ t'nmulative. AI! remr~lic~ ~n~cidrd in thi. \l~~rtca?~c arr distinct :~n~l ~umulati~•c tn .~m~ r:hrr ri,ht o~ reme~i~• under thi. ~to:t~_agr c~r atT~,rdrJ l,e la~~• rr ryuity. .~ncl ma~ hc e~rrcikJ r~,ncurrcntl~~. inde~x:ndcnth• or cni~e~si~•~h. li. Suecezcors aod Actii~nc Bound; Joint and Se~eral Liabitil~; ('aptions. Th~ co~~rnants and aer~~rn~ntc h~rein .:~~htainr~i ;h;~ll 1,i;;~1, ,,nd the ri~ht~ hrrcundcr zhal! m~irc tt~, thr r~.~~crtivc ~ncrc~ti~~n a~~d as~i~n~ ~~f Lrn~l~r and Rc~rroHCr. ~ . +ubj~ct to thc j~r.~:i.i<<m ~~f paragr:?ph 17 hzr~of. ~\11 ~o~~n:~nh an~l agrirm~ntc of Rc~tri~wer ~h:~ll ~h~ j~~:nl :irtid ~c~iral. -Thr ~aplivm .;n~l hea~lirr,~ ct tF~ p:ir.~g~.~rh, ~f thi~ \t~~rte:iL~ ar~ f~~r c~~m•rn~rncr nnl~~ :~n~l arr tti~S t~~ tx; t~~cd to ~nle~prct i~r dc6ne thc ~rn:;.i~~m herc+?~. . j J. lofire. F~~c~t f~~r an~~ nnli~c rryui~ad un.lrr af~~,li::3hlr l:i.. tr Fn• Fi~~n ,n :,n~,Ihcr mc+nncr. la1 an~• ni.tirc l~ ~ B~~rn,w~t ph~~~ided fc~: in Ihic ~1~~rtia~C chal) hc c,i~~en h~- meilini ~u:h nnti~e h~ ~rnuie.l n~:?il :~d~lr~~~cd tt~ Rt!rroHer ~t ~ t thi Pr.~~xrt~ -~J.Irc,. ~.r ~~~ch c~thc~ ad~+r~" a. R.,rr,,Her me~. dr,.+~n:,tr hr mni~c t~~ 1 r~ilcr :~z pnn-i~lr.i hcrcin. antt ~ (h1 :~r~ n~~tirc n. I~nttrr ;h~tt h~• ~iven hc crrtitir~l ni.~~!. recurn rc,r~rt rc4~:r.t~.l. 1~R;!er'. ad~ircc~ ctc~trd hcrci~~ nr to ` .urh ~~tttcr :~dJrt„ l.ri~drr n:.~~ dr~i~r~:itr ht m~tirc r~• Fi~~r-~~~~rr :t, f,rr.,:1r.1 ti~rrin •~s~~~ n~•~i~r pr.•~~idc~1 f.,r i~ thi~ ?11.ut~;age tih:~ll F.r ~ecm~d h.~~~ hcen s~~~~n to Bc~rr~~wcr rr 1.nd~r ,•.hrn Li~~n in thc r.is~nner ~k,iena~ed hcrein. IS_ l'nifurm ~1orf~,aKc: Go~•ernin~ [.aN: Sc~er:~bilih. l hi. r,,~ rn ~m,n~~ ~~_r ,•rmhinrc nnifvrm :~~vcnant~ f~~r n:iti~~n~i c~~t and n,m u,iif.~rtn ..~~r,•.,~~t. ~~ilii lintrteJ ~ari.~ti~~m t~r ju-i.ii~iti~~n tr :rr:stieutc a~i~uform ctccerit~ imtr:im~n! rnvcring rcal pro~~,:rtr. Thi, ~iont.?ir sh:~ll h.~ g~nrrnrd hc thc i.~•,+ ~~f thr ~ur«~6cti,,n ,n •.chi_h tiec Pm~xrt~~ I~k:~ted In thc ~~•rm that an) {~~rv~si~~zi ;,r clauk c~f thi, ~1~~rILa~_i ~,r th: \,,tc :.~ntli:h ~~i:h ar?~iirahlc la~~. cnnc ~onflict ~hall m~! afTect ~Hh~r ~r~~~eti~~~i~ iif thi~ \1~~r~k.~L~ ur thc \~,tr „i~r~h ~:~n L~~~n ~Ii~.l ~~i!hrut tF~c ~<~niti.:lin~, pr~~ici~~n. :~nd ti~ this enJ thr prr•.~tii.,m-~~! !f~r \ic~rtr:itr :~r•.l th~ ~~~t~ ~ri Jr~l.~re~! t~~ Fx ~<<~c;:thlc•. 16. BorroNCr'~ ('op~. Borrr~+~r ~h.itl furn~.hr~t :,mt,~rnud ~~t tfic \i~ti .ir:i uf ~hi. ~t~~rt~a~, at tfi~ timc . ~ .~f C~eculion iir ;,ftrr rr~c~rJ:?ti~in hc~c~~f. ' ~ 17. Tran+Frr of the Pmperfy; :1s~on~pliun. lf ;~l~ ~~r anc ~.:~rt ~.f ~hc Pr~~~xrlc .~r .~n intcrc~t thrrein i. .~~id nr tran~fcrrcd h} liorr.n<<r w~th.~~rt l.~ndrr'~ ~ri~~r ~crit~.~n <<~mrnt. r~~;u.iins; thc ~rr:iti~,ii nt a licn ~~r cnrumhranc~ ~utxirJin~tc to tht. ~1,,rt~a.L'~. Ih1 tiir ~rcatic~n ~.I piirih:~~~ nti~nc~ •i•: urit~ mtrr~:t frr h~~;i~chnl.l a{~idian.c~, Icl tr.~mfer h~' dC~-isc. - ~r«rnt h~ ~~~r.~uon ~~f Lr.~ up~~n thc ~icath rt i,~,nt trn:~nt rr I~f~ rhe ~rart :~f ,tn~ I~:nch~~ld intere~t ~~f thrr~ cear~ ~~r lesc n~~1 ~c}ntaining an c~~ti~~n 1~~ rurchasc. 1 cn~ler m.i~. .,t 1 rndrr'. ~~~,t~„n. dr~L~rc a;! thr ,um: ucur~d h~ this \tcirte~ge t<~ f~c imm~di:~teiti due anct ~a}ah1e. 1 rnder ,h:d! h:~~c. ~~ar~r~f ."ct~ ~~pti~,n a.t,.:1~-:,tr if. ~ri~~r t~. th~ ~ale ~.r transfer. 1 ~nder .~r.~l thc ~xn.•n to nh~~m thc Pr~~~c~~~• t~~ br ~.~~J .~r tr,~n.;crrrJ rcach .i~~recmrm in untin~ that thc cre~lit c.f such pcnon i~ sati~fact~~r~ tn Lcn.t~r ;uid ih:~t thr intrr~.t ~~a~ ahlc c~~t thc ,~im. ,c,ure.i h~• thi. \lnrti:tgc chall bc at sttrh rate at I_cnder •tih.~ll reyue~t. lf 1 ec~~ler ha. w;~it~e~l the ~~pti.~e 1n ac~~l~s:i~e pri~~iJ~d in thi~ p:~r:i~~rarh 17. and if B(~ff(7N'Cf~S u~ccessor in interect h~c executeJ a urittrn astiuntption ~err~mcnt ar~ept~d in wri~ing h~• 1_~n~icr. I_en.ler .hall rcle.~<< R~~rro~~cr from all uhli~:ati~,t~~ un.icr thi. M~~rtgagc ind thc No~c. ~ If i ender e~erci~e~ tiuch .~ptii~n ti, ac~elrr.~ic. I en~irr .h,~ll mail Bc,rra~+~r nuticc nf ac~eleration in acrordance with ~ paraFr:~ph 1-3 hcrec~f. SurF? n~~ticr .hatt ~.ruv~dc a E,rri~~.i ~~f nrf ie~. than ?n Jat~. fn.rtt the date the noticc ic mailCd w•ilhin ~ ahirh B~~rr~•uer n1a}• p.~~ the ~~im~ ~ecl.ireil ifur. It 13~,rr~~~.+cr f.~~l. pa~~ ,tich tiurn~ prinr te~ the ~~rir~ti~~n uf ~uch pen~~d. I.cn~er ma~•, uithitut furthcr n~~tice ~~r ~lrmand rn H~~rr~~~rr. ~n~.~~.r am rcmedies permitte:l h~• paragraph IR hereof. NOti-U\IFQRSi COYFtiA!VTS. BO(fOK'Cf :ind ! enJer ferrther coti•ertant and agree as follc~ws: 18.. Acceleration; Remedies. Except as prn~ided in paraRraph 1~ hereof. upon $orrower's breach of any co~•enant or agreement of Borrower in th~s ~tort~a~e. inclodinR ~he co.enants to pa~~ when due ~n~ .sums secured by thi~ Mortgage. I.ender " prior to acceler~lion sh~ll mail notice to Borrower ac pru~ided in paraRr~ph 14 hereof specff~•ing: (1) the breach: (2) fhe aMion ~required fo cure such 6reach; (3) a date. not lecs Ihan 30 d~}c from fhe date the notice Is mailed to Borrower, by ~shich such breach must be cured: and (4) Ihat failun fo cure such breach on or beforc the date specified in the notice m~y result in xcele~ation of tbe sums xcured br this ~1~,rt~age. forerlosure b~• judicial proceedin~ ~nd sale af the Property. 'il~e notice shall further inform BorcoNer of the riRhf to reinsfate af~er acceleration and the righf to assert in the foreclosun proceedir~ 1ht non-existence of a defautt or anv other defense of Borrow~er to acceler.~tion and foreclosure. !f Ihe b?each ic nof cnred o» - or before ~he date specified in the notice. I_ender at i.ender s option ma~ declare all of the sums secured b}• this ~tortga~e to be immediatelv due and pa~able wifhout further demand and ma~ foreclnse tbts :~tortRa~e b~~ judicial proceedin~. I.ender shall be entitled to rollect in such p~oceedinR all expeases of toreclosure. inclodin~. but not limited to, rcasonabte sttorntv's fees. s~nd costs of documentan• eridence. abstracts and tiNe rcports. l9. Born~Ker's R~hf to Reinst~te. Notwithstanding LenJer'~ •rcccleradon of the sums xcured by this Mortgage, Borrower shall have the right to have an~~ proceedings hegun b~ I.cnder to enfarce this Mortgage discontinued at any time so K~,'8y 7 _ ~ - : 18 ~ ~ . V : y, e ~~.sa '-r' zr;'s ~.r- ~x..:~e~ r ~ 'fi~-z '.'~~'6~1 g~~ ~ ~ "`r`~ °s; " . a -.~~`r~ ' r~~ ~u~ss -~'c 3rs.a ; y~~.~ ~ ~ ~ r'~. k a ~"~Fr~ S . . ~ .c=.~ , ' ;?--,.~r~'~ ~ ~-;~~.~~x'~',-`~„~"~^"~:.," ° ` a'T~'°-'~..*,,~.7 ~S .,~~-,e-,~,s,y. M ~ - ~"-°,~_~~'v"` ~ _ w.s - . ~ 3'~,'~ --r.'. . ~ " -