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HomeMy WebLinkAbout0384 ~ ~ ( rn.l:c ~~~r~tt~n .~Etrr:ur~:t ~y a~}~li..~bl~ L~~t1~~~i~.~~~~~ ~!`a~~l~? Ihr .~ni,~un1 ~~t JI nu~tt,~a,•~• i~i.~~r.~~i.r ~~rrmn~m. in Ihr n~.uin~r ~,,~~~:ci.,i nntl~r j~:l?:ilt:ij;h hctcaf ~n~ .~in,,unt~ ~1 .h~u~u) M~ I cr.~ict ~~ur.u.~ni t~~ !h~~ E.:~r.~~r.~~~h ~~~th :i~lrrc~t lhrr~•~~n ~h.~ll hr.'~~nir ad.l~tn~n:~l t~1.1~•MC~1ni~. ~~1 ~i~~rruN~•r ~t~UR•1) 1~~ t11~• \~.~~ItL.~I~' I~nlt•.~ H~~rt~~:~t'~ .~:~~I ~ ril.l:~ .~~tC~• A~ ~dhCl fi•rlll~ ~~I ~~.~~'Itll•t1L ~Uih ;~n~~~uiu. .h.~ll Fk ~~.~~.ahlc u~~.m n.~ti.r Ir, ~n i rn~l~v It,~~t~~~~:~ ~~•uu~•.unL ~~.~~mriit ihi~r,~t an~t .h,ii) h:.~r intrrr~t frum thc .I.~t~ ~~f ~ti.h~u.em~nt :~t ~h: r.~lr p:~~:~hir fmm timr tc~ timc ,~n ~~utti!.~r.ciinc ~~~~~~:i~~:~l und~r thr \~~~c unlr.. pa)'ment of ' i~~tcrr.t at .~r~h ratr ~~~~~~l:l F.<<~~n~rar~~ t„ .~~.pli~ahl~ t.~w. `in"wh,~•1+`evlni .ti~h :~inr~iru. ~hall hcat imcrr.t at ~hr hichr~t ratc ~Lrmic.iMc un~lrr :~p~+l,~:~blc la~~. ~~~~hinE c~,nt:~incd in thi~ par:?~raph 7.hall rry?iu~ 1 rnd~r iu incur :~n~• r~~mc ~r take .ui} a~tion hrr~undrr. _ 8. Incpeclian. t rn.lrr nia~• m.~{,~• ,~r:au,r tc? Fx m:~Je rca~~~nahlr rMne. u~,.~n :~nd im{•~:i~rn. ~~f Ihc Pr~•{krh' pr~•~•i.le~l that 1 r~~~lcr .h:~ll ~;i~r B~~rri~w~r n~,u~r ~~ri~~r to anc ~uch i~~~xct~im ,~cif~•in~; rr.~~~~nablc c:~u~c thcrcf~~r rcl;~trJ t~~ 1 cndcr'c ~~itCtr~t in Ihr Pru~rt)•. 9. Condemna~ion. The pr.k•rrd. ~~f am~ award .~r rlaim f~r ~lamac~s. .lirr.i ~~r ~~~n.rq~~rnl~al. in .~~nncrti~n with am~ ronJcmn:iti.~n ~~r othrr t:~ki~ig af ihc Pr~~~xrt~•. „r part there.,f. ur for conve}•~n~e in liru ~•f c~~ndcmnati~,n. .~rr hrr~M~ a~~iLncd anJ +hatl i+r paid tn I cndcr. ~ • In Ihc c~rn1 i~f a t~~~al t:d,ine rf Ihr Pn,~xrty, thr pr~kc~dc chall hc :~p~~lic~l t~• ~hr .umc k~ured hv thi. M~~rt~a~c- ~?ith Ihc ~~~r.c. if am'. p.~id t~~ Borr~~wrc In th~ ev~nt c~f a partial ~:~I~in~: ~~f thc Pro{?~rt~•. unlrc. Rnrr~~~crr r_~~a~~ ~llFllfNl~t akr~1 in ~~~rit~n~. ~hcrc .hall tx applic.l ti~. thc ~umc K~u~rJ M thi, M~•rlta~~ .urh ~u~,~~~rti.~n thr {~rc~cccdt as ~c cyual to th.it pn•~x~rti.~n ~~hich thr amuunt uf thc cum. .r:ur~•d h~ ~hi. \turi„~r immrdia?~•1~ ~~ri~~r f,~ th~ datc ~f ~aking txar~ to Ihc fa~r markrt ~aluc uf thc Pro~xrt~• imrnr~lialcly prir~ ti~ Ih~ .latr takinc. ~?ith th~ h.~l.~n~c thc pm:~cds paid t~~ Borrawcr. If thc Pmpcrt)' ic :~hand~ned M• B~~rrawer. ~•r if. a~1cr n~~ticc hv 1 r~+.dcr In B~~rrr~~cr that thc r~ndemn~r ~~ITcrc m make an aw~ard c~r ~ctNc a rlaim f~~r dama~«. R~,rmw•rr faih ti~ r~.~•nd tr 1 rndcr aithin Zfl ~1:~~~ ~ttrr th< <i:ite ~~ich m~ti~c i~ mailed. Lender i~ authoriied to collect anJ a~~i~~ thr pm:rrdc. at I erider'. apti~n. rither ti• rectorati~n ~~r rnpair ~f the Pro~n~ or to Ihe sum, .~rur~J h~ this 111c~rtgas:c l'nl~~c~ Lcndcr :~nd B~,rr~•~~~r ~,thcn.i.c acrcr in ~~ritin~. am• .n:h :~~F~li:ati~~n ~~f ~nkrcd~ t~• ~~~~,~~ral .h.il) nc~t c~tc~d .~r ~x~~tFx~ne thc dih dale ~~f Ih~ m.~nthl~~ in,tallmcnl. rcfrrrcd t~~ in t~.,ra~r.i~~h. 1:~rd ' herc~,t ~~r ih:m~~e Ihr am~~unt ~•f ~uch in,tallmcntc. 10. Bnrro~~•e~ Nof Releaced. E=~~cn~i~~n of ~hc tinu f.•r ra~•mcnr <~r m~~difir:~ti~~n ~~f :imerti~ation ~~f thc ~um~ ~rrurcd bv thi~ M~•nLacr cr:~ntrd M~ l.cnder 1~~ am• ~uccecwr in in~~rc.l ~~f R~~rn~H~r ,h.~ll nnt c~~ratc t+~ relra~r. in am• m:+nc~cr. thr iiah~lit~~ the ori~inal B.~rr~+~cr and H~~rrow-cr'~ su:«c.c,r. in inl~reit I~n~lcr chall nM Fx rcynirr~~ t~~ :~•mmcnrc ~r~.c~eJing~ :~c~inst wch wci~tis~,r ~~r r~fu~c t~~ ~~t~n.l tim~ f~~r pacm~nt ~u i?thcn.i~r m~Kfih amurtizati~m ~.f Iht s~imc .ccurrd h~~ ~hi. \lrrtiag~ h~ r~ati~,n of :~m d~rn.+n.1 made M thr ~~ri,:,nal 13~~rr~~wrr .~nd t3~,rmH•er'; wrc~..r~r. iii intere~~. I1. Forbear~nrc b~ I.ender \ut a N'ai~cr. ,\n~ f.~rt+~.~:an~r h~ 1~•nder in i~rr~i.inz :~s~~ rieht ~~r rcmrd~• fi~r~iin~l~r. ~~r ~uhcrwi~~ atT~~rdeJ h~~ ~ppli~:~hlr law. .h:Jl m~t tx: Hai~cr pmcludr the r~ercice ~~f cim ,urh ri~~ht nr rr•m:d~. ~I hr pr~kiir~mcnt ~~f in,uran~c c,r thc pa~•m~nt ~~f t:~~c, ,~r ~~thrr I:~n. ~~r ch:~r,r, 1.~ I ~ndcr ,h:ill nc?t Fx ~.~.n.rr ,~f I cn.i~r'. rizht t~ accrlrratc Ihr maturil~~ ~•f thc ind~h[cdnr.; .._~~r«1 h~ thi~ ~1on~_a~r. 12. Remediec Cumulutive. All rcme.iit~ ~n•.idrd in tl~i. ~turt~aer arc ~li.tinc~ an~l ~umulati~~c t~, .~•n ~~thrr rieht ~•r r~meJ~• under thi. ~t~~rtg.~~r i~r afT~,r.tcd M~ I.~~~ ~,r equit~. :~nd m:~~ tx r~rrci,eJ r~~ncurrentl~~. indeExndentl~ ~,r ,~~..~.~ivrl~ 13. Succec~on and AL+iRns Buund: Joinf ~nd Se~eral I iabilih~: ('aptions. The c~,«nants and :~Lr.rn+rm. h~rcin - ~~1SI~:li1lC~) .h:~ll hin~l. :,nd the ri~h~ti hcrcundcr .hall inur~ th~ rr~~xctivc tiuccc,,:~r. and ac~ign, ~~f 1 ~n~ir~ .~nd 13„re~•.~cr. .uhje~! ti~ ~hi rr~~~i.i~m~ ~~f E~.~racniph 17 hcrcuf. All ~u~rtt~i3n :~n~l :~!,rr~mrnt~ ~1f B~~rri~~~ir tih:~li hc ++~snt :+nd .r-,cr~l. lhr :a,tiun. .~nJ h•~a~!~n~_, nf th~ par.~e~a{+h. ~+f thi. \t~~rt~_arr arr f~r c~~~~~•cmcncr ~?nl~• .~nit :ire n~~t t~, he u~cd t~ in(rtprrt or .Icfinc ~hr nm~ i~irnc ;tcrc~~(. 14. \otire. E~rcnt f~v :~m• nc~t~:c rr~~ui~cd un.t~r :~~~•li~:~Mr L~~~ t,• hr c;•~n ~n an~,ihrr manncr. (:~1 .~m• noti~c to f3~~rrn~rcr pr~~.ided f~~r ;n thic ~t~~rtia~rc .hall tx gicrn h~ m.ulii~,~ .~~:l1 n~~~icr h~ .~•rti~cJ mail :~ddr~.~~.1 t~~ R~~rr~•~~er at thc Pr~~~rtt• ~~ildr~.~ ~~r aI ~uih .~thcr addr~~~ a~ B.~cr~n~~r mai d~•!,~n.~R h~ m~;icr I rnJrr .ic rrr~i~tr~i hcr~in. and ~i,~ :,m n.~n~~ t~~ 1~mlcr .h:~l) hc• _~~~cn h~ r~rt;tic~! m:ul. rctun2 rr:r~rt r~uit.,tc.f. t~• 1 en~}rr~~ adJr~c~ ~tatr~l hcr~in ~,r t~ ~nch uthrr :~~i~i~~., l.rnii~r m.~c d~.icnatc h~ nrti,r t~~ R~~rr.~~.cr ae pr.~~id<<i hrr~in 1nv n~~ti~r rr~~vidr~l f.,r in thic ~l~~r~~;as;c tifial~ tn iirrnttd tt~ ha~e Fken ti~in t~~ 13~~rr~~~~~r ~~r 1 end~•r ~+hrn e~~rn in th~ manr,~r Je~i_•n:~trit hcrrin. IS. l`nifurm ~lorlk~y~e: Cu~ernin~ T.aN: Se~erahilih. l li:, frr•~i ~~f mc,rt!~a~e ~:~mhinr. i~n~f~•rm c~,ven:~nt. f~,r natiimat II ~i~c an~t ;~~,rrunif.~rm :.~~rn.+nt. ~~ith limitr.t ~ariat~~m. h~ iu:~.d~;ti~~n I~~ :~~:~~Ut~~te ~ unifarm ~rruritr in~trnmrnt i~~~~enng :ca~ pro~xn~. "Ihi, \I~,rt~aLC ~h:~ll hc Ki,~rrnrJ h~ ~h~ la~ ~~f thr iuri,.li:ti.~n ;~i ~(~i;h thr Pro~xrt~ i. I,~~ated. 1n thc 4 e~'rnt that :~n~ ~ruvis~rn nr cl:?iiu uf thi. ~t~•rteae~ ,,r ~he \~,t~ ~~~ntli:t. ~~ith :~n~li~:~hl~ I:~w. .n.h c~,nflict .hall nnI :+tTe~t ~C c,thcr ~r:~~,.i,•n. ~,f ihi. \1~~rteazc ~~r ~hc \~•I: uhi:h ~.~n h~ Li~~~~ rfTi~t «itfi~~ut thc cc~iiflic,in~ {~rmi.i„n. :~n~t tc, this € ;nd thr r~~•n;.~rn, ~~t ?iu• ~1~~rtca~r :uid ~hr ~utr :,rr :t.•~larrd t„ fi~• .e~•rr:~hlr. F 16. Borrowcr's Cop~. Borru~.rr ~hall f~ir~i+.L~.i ~,~nf.~rmeJ ~~~~ti ~~f th~ \~~tc :~n~t ~~f thi. ~1~~rt~~atr at thc timc ~ ,t e~ec~ttii~n ~~r ~tt~r rcra~dation hercc~f. ~ 17. Tramfer of the Propert~_: A~+umpliun. If ;~I! ,~r :u?~ ;~.~rt ~.f }hc Prr~nrt~• ~~r ;in ~mere,t th~rem i, ~~~I~f ~~r trancferrcd ht~ B~rr~~~~rr ~~~thrut I rnd~r'~ pnrr uritt~n :~~m~nt. ~~.!~~~1?nz ~hr cr~ati~v~ ~~f lirn .~r rnrumhran~r .uh~~r~linate t~ ~ th~. 11~~rttiaze. 1hl thc rrcatinn i~f ~urcha.~ m~~n~~ .r: urit~ intrrr~t f~~r h~,u~rh~d.t :tppli:~n«~. Ic? a tran,frr h~• de~~isc. ~ Jc,ccnt ~~r h~ uprr.itic,n c~f I:+ti~ uExm Ihr :iratfi i,~:nt trn:~nt ~~r f~l~ thr er:u~t ~~1 .~m Ic:~kh~~ld intct~.t ~~f thre~ ~~ar: ~~r lccc ~ nirt ic~ntaininc :~n rpti~~n ?i~ ~~~rihas~_ 1 cmlir nt:~~. .it I rndrr~~ ~~~~t~~,n. dr.l.~r~ :~II th~ ~umc ~~~urrd hc tli~c \1~~rtg:?lc t~~ hc ~ ::nm~~tiat~h duc and ~a~•abl~ 1 cndc; ~hall h:~~r ~+.,i~rd ~n.h r~~u~m t~~ acc~lrr.ne if. ~ri~~r t~~ the .:~Ic i•r trantfer. Len.ler arz.! thc pr~~on t~• uh~~m thr Pn,~~rt~~ i. tn c~ °•rl.f ,~r tr.irt,lrrrcd rca:h .i~rr~mrnt in ~~ntinc th:~t thc cre.iit of ,uch ~.crson i~ tiati~fa~t~~r~ u~ 1_rn~l~r :~nd th:it thr imrrr,l ~~~:~h)r ~~r~ th~ .~+m..r:ured h~• tiii. \t~~rt~agc ~hall be at sach rate ac Lender ,h:,ll reyur~t. If 1 ender ha~ u•ai~~cJ thr ~~~ti~~n t;~ :~"rlrr,:tr ~r~~~•idrJ in thi~ p.~ra~raph 17. and if B~~rruwrr'. tiuccessor in in~~m~t ha. e~ecuted a:critten :~ssumpti~n atirremcnt a~rr~tcd in ~~rinng h~~ 1 c~Jcr. LcnJer ,hall relea~e B~~rrrn.•er from aU ~ ~~bligati~~n~ undcr thi~ :~i.~rtc;iee and thc \otc. ~ If 1 ender e~erricr~ ~uch upti.~n ti~ ae~rlrr:~tc. 1 r:iJ~r ~h~ll mail R~~rrc~~~er ni~tice ~~f acceleration in arcordanee ~ith ~ parakr~ph 14 here~f. Such nulice ~h~ll provid~ a~•e n~~d uf n~~~ Ies. than zn d~v~ frnm the date the notice is mailed w'ithin ~.~hirh B~.rm..rr ma~• ~+a~° Ihe ~umc ~eclsre.l ~ii~r It Bnrr~~~,cr f.~ih tu ,urh ~nms pr.or t~, the rxpirat~~•n ~,f cuch period. ~ Lrn~lrr m:iti-. «ithuut forthrr n~ti~~ ~~r ~Irmarid ~~n It~.rn~~rr. ~n~n{,c :~m r~mcdics ~xrmitlcci hc paracraph 1R hereof. ~ . . . ~ Nov-U~irok+t ('ovEti.~~TS. Aorrawer and 1 cn~ier further c~~enant and a~ree as follows: ~ ~ 18. :?cceler~tion; Remedies. F.tcept as pm~ided in paraRraph 17 hereof. upon Bonower's brcach of an~ co~•enanl or aRreement of Borrow•er in Ihis ~tort~a~e, includin~; the rn~enants to pay Nhen due an}• sums secured by this AtortRage, i.ender ~ prior to acceleration chall mail notice to Borrower as pro~ided in para~raph 14 hereof specif~inA: (1) the breach; (2) t6e actan ~ required lo cure such breach; (3) a date. not less than 30 da~s from the date the notice is mailed fo Borrower. by ~vhich such ~ breach must be cured: and t41 that failure to cure such breach on or beforc Ihe date specified in the notice may result in ~ accelention nf the sums secnred b~• lhis ~tortRa~e, foreclosure by judirial proceedin~ ~nd sale of the Property. "Il~e notice sh~ll further inform BorroMer of the ri~ht fo reinctate after acceleration and the right to assert in the foreclosurc proceedinR ~ the non-exictence of a default or am other detence ot Borrower lo accelerafion and forecbsure. If the breach ic not cured on ; ~ or beforc the date specified in the notice. Leoder at Lender's option ma~ declare all of the sums securcd b~~ thic «ort~age to be immediatdy due and payable w~ithout (urther dem~nd and m~y foreclose /his NortRa~;e by judicial proceedin~. Lender shall be entiUed to collect jn such proceedin~ all expenses of foreclosure, includin~. but not limited to. reawnable attorney's fees, and costs of documentary e~idence, abstraclc and tide reports. ~ 19. Borrower's Right to Reinst~te. tiotwithstanding l.enJrr': acceleration of the sums secured by this Mortgage. ~s Borrower shall have the tight to have an~~ proceedings tk~:un hy I.ender to enforce this tilortgaRe discontinueJ at any time ~ r' ~ 0R ~ g~~x~0 P~(;~ 38~ ~ -~~t~ - _ _ ~ ~ yv r i ~ ~ m~.r=a ~,~d"n~`kr-~"'~ we' r ` ~ ' :~a-r,~'R~^J` x^z.~~ .a +r. . ~ ~-r^-~'~~ ~ ~E'~~~~~~"'~'- s~ _3 ~ . ~ . ~l. ` ~ v"'«,'v''Y/ i 4i , ~d ..,*~i- y ~r, . ~.,x=