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HomeMy WebLinkAbout0437 I rn.l:t ~~~n11en .~~rr.•mrnt ur .~ppli..~hl~ I.~~~ it~~rru~~~r ~h.~ll p.~~ Ihc :,in,•i:nt ~~I .dl nt~~rt~a.r it;,ui.~n:r prri~iium~ in 1hC ~~i_~nnrr ~ .~~«1r.1 i;nilrt {~at:~~r.~ph ? hcrruf ~~11\ .Inla~~Ull~ ~~~~.1~!i1S~'~ h\ 1 ~~~~i•f ~~~~I.~~.int l~~ tlih ~~af.~t~.~{~h ~ ~~i!f~ aOl~f~~t II1cR'.HL ~~~le~~ j~i~~I11C :~t~ 1Mr:f1 in.l.h•r.~n~.~ .~l Il~~rr~~'.~rf ~Ciuf~d h~ IFIC~ ~t.~rt~.~~sr 1!ilr~~ H~~i~"~~~~ .~n~l 1~~n~l~•! .teirr t~~ ~~11~rl~ I~f1~1S~~11 p;~~nlci~~~l . Jfil~~lilll? ?~Id~~ hl ~~.I~:ih~l' U~l~i?1 I11~1l.i ~?.'lll (~'ll~~i'/ 1.1 (~~~fl~+~\l'i f~ajUl'~III1L ~~.1\(11~•'l~ IfTC1~C~+~. :111~~ \~l.l~~ ~~t:ll If1llYC\( fn,m thc _ ~i:~tr .li.hur.rmcnt a~ thr r.~ir ~~.~~:~hlc fr,~m tinic t~, ~~mc ~~n ~n~t.t::ndin~ ~~i ~n:~~•:~l undcr thr \~~~r unlr., paymcnt of ii?t~rr,t at tiu.h ratr ~~c~ulJ i~• r~~nuan i.~ a~n!~~ahle 1.~«. in ~~hirh ~~•cr~t ~urh am.~~in~. ,hall F+~ar inter~~t at th~ hieh<<t rate ~xrn~is~ihlc umlr~ :~pplirablr law. Ir~~thi~i~ <<~niained in~9~~~~~7 .hall rcyu~rc 1~ndcr to in~ur any ~~pcn~c or take .~m .~ctiun hrrcunde~. 8. Inspeclion. I.cnJcr mav m.~lc ~~r r:~~i.c t~~ ha; maJc rcaconahlc cntri~ti u~~.~n :ind ~n.~xr~i~~n. ~~f thc Pr„~xrty. pr~~vidcd thal 1 cndcr ~h:?II gi~•~ A.+rn~uer n~~ti~~ ~~rii~r 1~~ am~ euch in~~c~ion ti~xcil~~ing rc;i,~,nahlr i:ui.c Ihcrrf~~r rrl:u~d 1.~ Lcndcr's int.r<<t m ~hc Pru~rt~~. 9. Condemns~tion. Thc pn~rrcdc uf am a~.ard c~r claim tor clamaccs, dirrct rr r~~mrqu~nti:?I. in i~~nnrrti~n Ki~h am• runJc~nnati.~n or ~~ther takin~ of ~hc Prorer~y. ~~r part therrof, or for cunvevanrc in licu ~~f c~ndcmn:+tiun. :~rr hercM• a~.igncd and ,h:~ll ~x paid to l endc~. ln ~he e~•ent ~f a t~•tal t;~~.in~; uf ~h~ Pr„~x~t). the pnke~ds ~hall tk :~~~??lied ti~ the cumc crcurcd h~• thi. \ti~rtg~ge. with thr e~~c.c. if any. p:iid R.~rrr~rrr. In the e~~eM ~~f a partial t:il.~ni ~~f the Pro~+ert~~. unkcc Rnrrr~tier and Lcnder ~~thc~Hi~r agrec in Nritinc. therc .hall be applicd to ~he wmc ~rcur«I hy thi. M~~rt~a~c •t~~h pmportirn rf thr rnkeeds as ic cyu.~l to Ihat prc~~x~rli~~n ~~hi~h thr am~unt ~~f Ihe ~um~ ~r:urcd h~~ ~hi~ ~I~~rf~:+~c irn+u~•Ji:~l~1c rrii~r ti~ Ihc datC of takine Fx~arc tu the fair mnrk~t valur uf thc Pruprrt~~ immediatrl~~ pri~~r t~ the Jate c~l ~akine. ~~ith ~he halanrr ~f the pr<x~ecds paid t~~ Borrow•cr. Tf thc Pruperlp i~ ahand~nc.! h~• Rorrow~r, i~r if. :lflrr n~ticc hr 1 cnder Rarm~v~r thal the condemn~r ~~fTers to make an :IN'Jftl ~~r ~Cttlc rlaim f~~r datii.~~:~~. B~,rrc,w•~r fait. tu r~,M,nJ tc~ 1 cndcr aithin i(1 d:~). :ifter thr ~I:it~ ~urh nnti.c ic ma~lcd. I.cndcr i. authoritrd to coll~rt and api~h~ thc pnxcrdc. at 1 cndcr'. ~~~ti~n. cithcr M rc~toration ~r repair ~f the Pro{xn~ or to thc ~um~ sccured h~~ ~hic ~torteage. l'nlcc, 1 cnder and Born~w~r athenci.r agrcc in ~~ritine. am• w~h :~{,p1i:.iti~ai ~•f pr<kred~ h, prin~i~al ~hal1 nc.t c~tcnd ~~r ~~.t~x~nc ~he due .late ~•f th~ m:,nthl~ in,lallmrnt. rcfrrrcd tc~ in t•.~r,~~ra~h. 1:~nd here~f ~•r rhan~e thc amnr.nt ~f tiurh ~mtallment~. ' 10. Borrower ~ol Releaced. 1=~tenv:~n ~f thc timr frr ra~mrn~ or m,~clifi::iti~~n of :imarti~ation ~~f the .umc crcumd h~• Ih~. ?11:~h~~:~~c graMCd hy I cniicr t~~ :~m• <uccc.~.~r in imrrc.t ~~f R~~rrrnccr .h:tll n~~t c~~.~r:~tc to rclcasc. in any' manocr. thc li.ihilit~ ~~1 thr ~~riLin:tl B~•rm~~rr and Brrrc.Hrr'. sn.~r..~~rc in inicrc:t 1 rnilcr chall not hc reynirc.l to cc~mmencc f~~~kre.linc. agaimt wch .ur:~.sc,r i.; re(u.c t~~ e~trn.l time f~r pa~ment c.r othen+i~r m~xfif~• amortizati~n the cums '.~.~u~u .ii: .'.i::i~S~C i: iC.i`.... .:Il'. i::......tti ..~iCJ.. l~ .6. ..:t ~l:`... ....,1 Rnrrnaa•s_rc cn_~.•.~~~.~fc In IMPfPCI i': i' . . . . ...L I1. Forbearance b~~ lxnder \nt a N'ai~~er. •~m C.•nc~ai:~•«: h~ 1~ndcr in r~rrci.in~ an~ right ~u rcmrJ~• hrrcun~lcr, or ~~thrrH~i.c .~Ii~,rdcJ h~ applicahlr I:~a~. .h;~~l m~t tk u:?i~cr ~~f .•r prrrludc thc r~erci~r „f :~m• .uch rieht c.r rcmcd~. Thr rrc?rurcmcnt of in~urancc .,r thr pa~~mrnt ta~~. ,,Ih~r i4tm :x ~har~r. h~~ I cndcr .hall not h~ a~~aivrr ~~f I en.i~r'~ rieht t~• acicl~rati the maturi~~ c~f ih~ ind~l~icdnr., ~c:urr~l h~ thi. \1ort~acr. • 12. Rcmrdie. Cumulalicr. Alt rcmc.ii« ~r.•~idrd in thi. \1.+rtLa:r are ~ii:tin:t :~nd ~umulati~•c tc. :~nc rlhrr rieM ~~r - remr~i~• under th~. ~1~~::c.~er rr a1T~~:~l..f h~• law rr ryuitc. and m:~~ h~ r~rrci;r.1 ;~,nrurrrrtl~•. independrnlh ~~r t~i:«.,i~~rlc- 13. Suceeccors and 1sci~n~ Buund: Joinl and Se~eral 1_iabilih; Captionc. The c~~~'enants and :~cr~rm~nt. h~rein ~i~ntainr.l ~h:ill t,in.l. .~nd th~ richt~ hrrrundcr ~hall ~nutr t~.. th~ rc~~krih•~ ~~~r~c.~~~r~ and atcignc i~f I.cnilcr :~n.t R~~rr.~ti~cr_ ~uhj~rt t~~ th~-rr~~~i.i.~m i~f rar.~gr~ph 17 hcrcof., r~ll ~u~rn.~nl, anJ agr~rmcnt. ~~f Rarr~ntcr ~h:~ll t?~ i~.im :~nd ~~~cral. ~Ilir capti~~n. .~nJ h~a~3ir.g. rl thr par:~gr.~ph. ~~f thi, \t~,ng:~gr arr f„r c~ns•~n~~nrc rnh :~n~l arc n~~t t~~ hr n~cd to ~n~~rnr~t nr dcfi~r thr ~rmi.i~~m ficre.•f. 1~3. \oticc. E~rc~t fur ain' notirr rcyuirc.l um!~r ar~~li:.~hlr I:n+ t,~ bc ci~rn ~n an~~thcr mannrr. fa) :~m• n~~tir~ to Bi~rn~~~cr pr.»idrd fur +n thi. \trrt~~:iec ~h:?11 tx ciren h~ m:~:l~ni~ ,u;h i~~,~ic~ h~ ~rrtificd mail addre..~~ i.~ R~,ri~~~«r at th~ Pro~xn~ :~~1.ir~.. ur at .uch uthrr :iddr~c~ ati Brrr~~~ccr mat dc.icn:it: tit n,~ti~r t,~ I cn.ler a~ pm~•i.tr.l hrrcin. and Ih~ .int n.~ti~~ I rn.tcr ,h.~ll hc ~i~cn h~- ccrt~fir~i ~it.ul. rr:;irn rrcr~~t rruu~.t~d_ t~~ 1 ~n~tcr'. ad~lre~t sl:itrd hcrcin ~r to .uch ~,ther addre,~ .iti Lr~idrr m.t: d~~ien_~te h~ n~•ti:c t~• R~~rn~~~rr a. {•r~~~i~r,1 hrrci~~ \m n~~Iii~ pn~~•ide~l f~.r in this ~t~,rtk.~LC sh.~l) txr ~ermr.l t,, ha.~ hc~n Li~~n to Bc.rr,~~act 1:n.lrr ~~hrn ci.cn in thc m:,nncr dc~ienat~d hcrcin. - 15. L'niform ~Tori~aEe: Covernine I.aw: Se~erabilih~. t, rri ,,t mnr~caLe :rmhinec uniform c~~venant. fnr natii,n:+l lriC :i(1~1 rn~n-tniifi~ill) i~~\~l'[~:~f11~ '.\II~I ilOlllCl~ \'.Ill:ti~~l(1~ ~l~[~•i~t~U~~ll 1~~ C~lll~lti:lli 3 UlltfOffil ~~~urit~~ in~trum~M l'O\'C'f1f1g . rca! pru~nt~. ~hi~ \1~~rizag~ chall ~x g~~~crncd M thr I.iW ~~f thc auri.~ii~In~tt in Whi.h th~ Pro~rt~' i~ likated. In the ~ r~~ent th:~~ ~nt• pr~wisi.,n ~,r rlau~r vf thi. M~~rtea~~ ~~r rhe \,~tr c~,ntl.iit. .~ith ant~liiaMr lau. wih c~nflirl ~hall not afTect ; „thrr E,n•~~,i~~m ~~f thl~ \(~,rt~_a:;r ~~r Ihc \i.l~ ~~h=~h t•~ ;i~ru ~ti~.t ~~i~h.,i~t thc :~,nfli:tinL rr<~~~i.i~,n. an~ to thic ~ rr.J thc ~~r.~~i~i.~n~ c~t thr \lrriza~e and tftr \,~ti :irc ~Ir~l.,t~d I~~ Ik .~c~r:ihlC. ~ 16. Borrovrcr's ('up~. Rorn~~~rr .h:~ll t,~ furn~.hr~t :.•nl~~rmrd .~~F,~ .~f iht \i~tr .inJ ~~f thi. :~lurt~.~c~ at Ihc timc ` .~t ctcru~ion c~r altrr rr:orJa~ion herr.~f. 17. Transfer of Ihr Propert~; :~«umption. l; ali ~~r a~,~ ~~.~r~ ~~f th~ Pr~~~xrt~• ~~r an mtcrc~t ~hercin i..~~ld or-tranderred ~ ~ h~ Barr~~w~r w~[h~,:n I.rndcr't pn.,r ~~rittrai ~~,mrnt. r~:lu.tine t.~~ thc crrati~.n ~,f lie~i rr cncumhr.m~r tiuh..r.Lnatc t~ th~~ ~t~~rt~a~e. ih~ the rrrati~~n ~~f a pur.•ha+r m„n~; .rr~inn ~mrr~~~ f~~r hru:rh~,IJ appli.~ncrc, (r1 a tran.(rr h~• devise. ~ ~lr~c~nt ~~r h~ i~{xration ~~f lati~ up~~n thr it~;~th .~t +~~~nt trnan! rr I~t~ rhe ~~~ant ~~f anc ka~rh~~ld in~crest rf thrr~ vrar~ or lcss r nnt c:~ntaininc an cirtii~n t~~ pur.has~. 1 rn.i~r nt:~~. .it I rndrr'. r~•ti~,ia. dccl.~rr all thc ~um~ secur~d h~ thic ti1~~rtgacc 1~ bc ~mmc~hatch due :ind pat•:~hle. 1 endrr ~h.ill ha~c :•a;.r.i ~ie:h ~~pt~~~n arcclcr.~te if. ~rior t~~ the .ale ~r transfer. I.ender .tn.1 the ~xrc~,n tn w•h~~m thc Pr~~~xrs~- i, t~~ F?r .~~1,~ .+r tr.m.ferrrJ rca:h .~~recmcnl in Krilin~ that thr ~redh nf ~uch penon ~c sati~fart.~n• tR Len~lrr ~nd th:~t thr interi~.t ~•:~~aMe ,~n thc .iim. .~rurcd h~~ thi~ ~1~rt~aee ~hall tx at so~h rate ac i_ender $ ~hall rcyur~t. If 1 en~ler ha~ v?•ai~•«I thc ~,pti,,n t~, :~rr~l~r.i~~ pr.~~~idr.l in th~~ ~ara~_raph t'!. an~ it fs~~rmw~cr"~ `urccssur in ~ ~ntrrcct ha~ cxccutcd a~+rittcn astumpti~n agrcrmrnt acrr~+trd in ~~riting hy Lcn~icr. t.~n~icr ~hall rclcatc B~,rrowrr from all i,bligation~ undcr thi~ ~1~~rtg.~gc and thc :`c~t~. ~ " if I.ender e~erriee~ ~u~h option t~~ acc~lcr.~tr. I rn~ier ~h.ill m:ul Bc.rro~~~r notice ~~f acrelerati~~n in a~co~danee with ~ paragraph ld hercof. Such nutice ~hall pr~~vide a{xri~~.! ~~f nrt Ic,. than 3~ ~I~~~~ lrom ihe date the notice ic mailed within ~ Hhich B~~rr~~~~er ma~~ r:~~• the ~iimc decl:+reJ dur It R~~rm~~rr f.:~!~ vr pa} surh ~umt prior te~ the erpiratic~n rf su~h peri~?d. ~ I.endcr ma}•.•~ithout furtfic: no~icc ~~r.icmand ~~n ttnrr~~wcr. ~n.~~l,c an~ rrmcdics Fxrmittcd h}• para~ra~h IC hcreof. ~ ~ ~ Noti-UNIFOx~1 CovF~~:~TS. Bormwer and f rnder further co~•enant and agree as follows: ~ 18. Acceleration; Remedies. Fxcept ac pro~ided in para~rapb 17 hereof, upon Borrower's brcach of any co~enant or - aRreement of Borrower in this ~1ort~a~e, includin~ the co~enants lo pa~• when due am• sums secored by fhis tilortgaRe. I.ender ~ prior lo acceleration shatl mail notice to Borrower as provided in paraRraph 14 hereof specif}•ing: (1) the breach: (2) tbe ~ction ~ requircd to cure such Aresch; (3) a date, not less than 30 da}~s from the date Ihe notice Ls mailed to Borrower. by which such 'a bresch must be cured; and (4) that i~ilurc fo cure such breach on or before the date specified in the notice may result in f acceteration of Ihe sntm xcured by lhis ;1lortga~e. foreclosure b~• judicial proccedinR and sale of the Properh•. The notice ~ shall further inform Borrower of the ri~ht to rcinslate after acceleratiun and the rig6t lo usert in tbc foreclosure proceedjog ~ the non-existence of a defauk or any other defense of Aorro~cer to acceleration and fareclosurc. lf the breach is not cured on ~ or before the date specified in the notice, t.ender al [_ender's option may declare ali of tl~e snms securcd by thic Mortgn~e to be ~ immediately dut and payable vrithout furiher demand and may foreclose this ;?iortRa~;e by judicial proceedin~. I.ender shall 'fx be mtiNed to colkct in such proceedin~ ali expenses of forcclosure, including. but not limited to, reasonabk attorney's fees. x~ and costs oE documentary evidence. abstracts and title reports. ~ 19. Borrower's Right to Reinstate. Notw•ithstanding I_enJer'. acceieration of the sums secured by this Mortgage. Borrower shall have the right to have an~~ proceedings heFun hy Lcnder to enforce this ~iortgage discontinued at any time ~ ~ soo~ 290 43'l ~~w x - - " - = ~ ~ ; ~ : ~ ~e~ t V~~'~~-:~ - ~r ~ .z ~ - -t-?, a: ~."~`°z = - . . . ~ ~ v.. _N :