Loading...
HomeMy WebLinkAbout0798 1 rn.lri'. ~~nUru .~~;n•~~:r.rnt ~~r a~~~~l~..~bir L~~~ It.~iiu~~rr .l~,~II ~•:i) ~hr .~m,~unt .~1 .ili murl~;.~~~r ~ii.~ir.~i~.•C prcu?ium. ~n thr m:~n~;:r pi ~~i~1~J un~i~r ~~.~r.~~;r.~~~h hrrco[. ~m :un,~~uu~ ~li.h~n,~~1 b~~ 1 ~r..l~r ~~ur~~~.~~~t t,~ !hit ~~.ii.~:~i.~;•li , ~~:th .nlcf~~l 1hr:r.~~:. ~h:Jl h~~umr :~~1~hli.,na1 ~n~lrf,rr~lnr.. ,~t Itui~~iHrr x.tiwc~h) .thi. \tt~rl~~~r l .itr.. R~•rr. ~~r~ .~n.i I ri~~ir, .~crr t~~ ~~th~r lrrmc ~~f pa~mrnt. ~uch am~~~~ it. .hali hr ~~:~cahl~. up.y~ p i.r frrm Lti11Ai t~~ I~,~rr~n~rr rr.;ur.!in~ m~i~t ihcky~t. :~n.l .h.ill ikar intrrr~t fr~~m Ihr .I:~t~ uf ~li.hunrmcnt at thr rair ~+:~~:ihl~ /r,~n~ tim~ ti? ~imc ~~n i~~~i.t.~ndink ~riniip~l undct thr ~~•te unlr~. paymcnt of i~nr~c,t :~1 ~u:h r:itr ~~uul.l h~ c.~nlr.~n t~~ :~ppli:~blr 1.~~~. in ~.~h~.h r~•cnl .u~h am~~unt~ .h:~ll F+~:tr intcr~.t at th~ highcd ratc ~rmi.sihlr und~r :~ppli~.~hl, la.~. Nc~thing ~rntained in th~c paraRraph 7.hall rcyi~irc 1 rndrr tu inrnr an~• ~~~:mc or takc .?n~ .i,ti.~n hrrrundcr. K. In.{?rction. Lrn~lrr may m.~~.c ~~r.:~u.c tc. 1?c ma~le «acunaMr cm~ir. n~•,~n :uid in.~xc~ii~n. ~•1 ~hr Pro~r~y. pr~,vi~lc~l thal L~nJcr .hall g~ve A~?rmHer nrtire ,~ri.~r tu am~ wrh insFxcU~•n tiEx~.ilyinE rrasunahk c:~ucc thcrrl.~r rcla~cJ ti~ l.cnder's intrr~~t in thc Pn•Exrt~, 9. Condrmn~tion. Thc procrrdc ~~f any auard c~r ~laim f~u .I:+m~~rs, dircct ~~r a~nu:qucntial. in r~nnrction ~~ith an~• ~ondcmna~io:~ ~~r other takint of ~he Pr.~~x rty, ~~r part there.~f. fc.r r.~nve}•ance in lieu of rondemnati~~n. arr hrrchy a~.igned anJ .hall t?~ ~.aid to I.cnticr. . In ihr <<cnt of a tc~tal takine of thr Pm~r~y. thc pr<•rc~dc ~hall h~ ai~plicd tc? ~he wm< <crur~d h~~ thic Mortgaec• with ~hc c~cccs. if any. p.~id t~ B~~rr.~w~~. ln thc c~•cm ~~f a partial ta{.~ng ~•f thc Propert~'. unlc~c Borr~~~•rr and I.cndcr .~thcrMix agrcc in ..ritine. thcm ~hall hc applicd lo Ihc ~umc ~ccurc~f h~ thi. I~:~~tcagc ~uch rmp~,rli~m Ih~ prckceds as ic eyual to that pmp~~rtii~n which the am~~unt o( the ~um~ .r~urrd h~ thi~ \t~~nta~r +mmrJiatrh• ~~ri~~r a~ ~hr date of takine he~r~ lo the fair market ~~alur of thr Pru~xn~• immedia~rly ~rii~r to thc ~latc of taking. ~~ith Ihe haL~nce of tfie pnxeeds paiJ t~~ Borrower. " If the Propert~• i~ abandi~neJ h~ Rrrn.~~•er. nr if. aft~r rn~ticr h~• 1 endrr t~~ Rorr~~~~•~r tha~ the condemnor o~ers to make cin :~ward c?r ~ettlc a ~laim !~r ~laiuaE~.. Ii:,rrcnticr t:~il. t.~ r~.~~nil t~~ 1 cr.dr~ ~ithin J:~~. ~ftrr thr datc .u~h ni~tirc it m:~ilcd. I.cndcr i~ authorirrd to coll:.t and :?~pl~~ ~hc pm:rrda. at (.cndcr'~ ~,~ai~n. cilher ti~ rc~toralion ~r n~pair of thc Pro~rt~ or t~ thc ~um~ ~crurcd h~ thi~ \lortec~ge. lJnlcs~ l cndcr and Rorru~~~r ~thcn~i.~ agrer in ~~ritin, am ~u.h a~~~,li~:~tirn nf prc~~tid~ tn ~rin~ipa) .h:~ll nut c~tcnd ur ~x~~t~nc thc do< <I:UC ~~f t!~r m.+nthl~• in,tallmcnt; rcfrr-r,i t~+ i~~ r,r:~kr.~~~h~ I:m~l ' hcR~•f ~•r ehanL~ thc am~~unt ~~f such ;mtallment.. 10. Borrow-er Vot Released. l~~tcr.c~~n of ~he timr f~~r r;~~mc:~t ~~r mcwlifi~:~ti~~n of amorti~a~ion ~~f !he .um< <r~urect h~• thiti Mi~rtiacc grantcc~ h} I cn,ler t~~ am• w~cccti~~r in in~rrr~t ~~f Ai~rro~~cr ~h:.!! not ~~x:ratc to rclcax. in am• manncr. th~ liah~li~~• .~r ~hc urigin:~l B~~rrc•~~rr :~nd Aan~~rcr'. su::r.,~•r. in in~crcct. I rn~lcr ~hall n.•t hc rcy~~ircd t~• r~mmencc p~;~xc:iir,g, ogainst such tt:rr~~sur ~~r rciuk to c~tc~.f timr fi~r pa~mc~~t c~r oihcn~i.c m~~.iih~ amorti•rati~m the sums cc:ured h~ ihi~ !~t~~rtgagr M r~:~`„n ~~f am .kmaml madr he thr ~~riei:~::l liorn•~vrr .ind B~~rrc?v?~~r'e su.~c.v,rti in intcrctt. 11. Forbearance bv Lender \ut a N'~i~e~. :1+ir f~~rhe: r,u~~~ h~ 1 rndcr in ~~cr~i~in_~ :~m~ right ~~r remccl~• hcrcundcr. c~r ~~thrrwisc atT,,rdcJ hv a~pli~ahlc l:~~v. ch:~ll n~N hc a~rai~ -r a~! ,~r {~re~Iude thc ~~crci.~ ~~f am ~urh ri~ht t~r remcd)'. 'fh~ pr~kurcment of in~uran~c or thc pa)~mrnt of ta~r. ~~r ~~tner I~~n. rharg~c h~ I.cndcr ,hall not bc ~~:~ivLr ~~f I cndcr'ti :ight t~. aceclcrat~ the matu~ih• i~f thc inJ~ht~dnc~..r_nrcd h~ thi~ ~torteae~. 12. Remedie.l'umulativc. Ail remcdics pi.~~idcd in thi. ?11,•rt~:~ec ar~ dic+in~t a~~d rum~el:?ti~~c tc? am• ~~thrr rieht .•r ~~mc~lt• ui~dc~ :hi~ ~t~rtgag~ or ~ti~,rdc~! h~• la~~ ~•r cyuil~~. an~i m:~~ he r~~rci,c.l ,,,ncurr,•~ztl)~. independenll~ ~,r ,u~•:~.aivrh. 13. Succccsors and .1*tii~nc Bonod: Joinf and Se~cral I.iahilih: ('aplionc. Thc ei~~ciiants and acrcrmcnt~ hcrcin ~~,ntaincd ~ha11 hin.i. ,~nil the ri~hh hrrcundcs ,hall ~nurc t~•. thr rr~prcti~c surr~..~~rs and ati.ign~ of I cn~lrr :~nd A~•rri~HCr. ,ubjcct t~~ thc rru:i.i~~m ~,f paracr.~ph 17 hcrcuf. •\lt :o~•~n:~nt. :~nJ agrrrmcnh ~~f Rorru~~cr shall tx j~,int :uid ~c~cral. ~Il~r ~apli~~n. emi hca~i~nr:• ~~I thc ~+:~r:~,ial~•h~ of ~hiti ~1~+rt~:i,~ atr fu~ c~~mru~cncr ~~nh .~nd :~re n~~t t~, 4.~ ~~c~d to ~i,t~rrrct ~r dcfinr thr ~m:~~i.~nti liercnf. 14. \oticc. E~~cp! frr :~n~~ nc~tirc rc~~uircd ~m.ler a~.;~li~ahlr Li" t~~ h: ei.ria in a:u~thcr mannc~. f:~? :~m• notirc to Rurn~w~cr pn~~~id~d for ;n thi~ `1~~:tgaec tihall Ix gi~rn in m.iilii~_ .~~.h n.~tiic h~ ~rrti ~cd tnait :~ddre~«d t~~ R~~rro~~cr at th~ Pm~xrt)• Addre., ar al ,i~ch :~th~r :tJdre~~ a: B~~rr~~~~~r tr..~~ d~~:~n;~tr n~ ;i,~ti~~ t~~ 1 Lnilrr a~ pn•~i~tr~l hcrrin. and ~t~r ..n~ nc~ti:c to Lrn~ler sh:~ll he ~i~•~~i l~~ ~crtifi~~1 m:iil. re:urn rc«~{~t .*ry..~.seJ. t„ 1 rn~ler. ~dJre~ti ~I:~t~d hcr~in i~r to ,uch :,ther a~l.lr:ti, a, L~nJ~r tn:~~ J~tii~~:~aM b~ nrti~~ ~c~ li~~rn~w~r ~.r.~~:dc~l h~r~in. ~m~ nvti;_ pr~~vid~.l fur in lhis ~1~ulgat~~ sh:~ll f~ diCmrd h:~~~ h~rn ,L'i~~n ti~ R~~ir~~~~rl i rni;tr nh~n L~~'r!t i~t ~h~ nt.!nncr de,icn:~trd hrrrin. 1~. l~nifurm 1ior1~:~~c: Go~erninQ T•aK: Sc~crebilih. I t,;, t:~:m ~,i m~n_•;+zc :~~mhinc. unifi~rm :~~~~cn.~nt. f~~r nati~,r.al U~l':ifl~~ Ili~fl-lltll~i~.'lll :~~L~l':!!~lf~ N1~~1 ~11111(l'~~ \71:I:IUU11~ hC ~(1I1~.21~II~q1 IU ~<ll1\U~1lll' J lllll~~1(I71 til'~Ilfll~' It111(Il:lll'fl( c~~~~enng . ' r~al prc~~xrt~. "fh~. ~I.irtzage ~hali Fx: Lu~•rrned h~~ th~ I:i~~ ~~i thc ;u:i.~l~:t~.~n i:i «•hich ~he Prnpert~• s~ kx•ated. In the ~ ~~~cnl that any rr~~vi~:~~n ~~r .lau~r uf thi. ~t~~rt~as:~ ~,r Ihr ~~~nt~i~t. ~~ilh a~D:icahlc la~~. s~tnc ~~,nfli~t ~hall n~t afTc~l ~ ~~thcr ~c~~~itii.~m ~~f tiii. \t~~nca~e ur-thr \~~t~ ~..hi~h r.~~i h~ •_i~~n rllrct ~.i!h~~<<1 thc ~,~nt~i.tinL ~m~i~i~~n. a~id t~ this ;n.t thr (~I~~~~~i~~m ut 'hc ~~t~~ll'a~~ a1~d ih~ \~~h :i:~ .I«I.~rid I~~ tv .~c~LraM~. [ 16. BorroNer's Cop~. Borrrt~cr ~hall hr fi~nri.hc~i a ~.~ni.~rm~d •tif 'hc \~~I~ .in~' nt th+, '~turl_L'akC :~t the timc ~ ,~f cs~c~rtion cu aitrr rrcorda~icm hcrc~~f. 17. Transfer of the Pr~~perly: :~~sumption. If' ;~II ~~r an~ E~.~~t uf thr Pr~~{+~rt~ ~•r an intcrctt thrrcin i. .;~~d i~r transferrcd ~ hv Bo~ruWrr ~~ith~+nt l.~nd~r's prirr ~~riNrn ~~~n~rn:. r~:l~~din_ ~.~t th~ :rrati„n ~~f a li~~~ ~,r cn~~imhranrr ~uh.u~lin:rie tc~ thi~ tt~ut~::~~e. th~ the creation of puriha~c rnrni~ .rcunt~ ;nlrr~,~ f~~r h~~uuh~~ld :tpptianrr~. Icl tramfrr h~• devise. ~ de..cnt ~~r h) ~,~ration ~,f la:~ upon [he ~1~.ith i~~~~~t tcnant ~~r !~i~ th~ er.~nt „f am ic:~cch~,ld interest ~~f thrr~ }'~arc or iecc n~~t ~e,ntaimm, :~n upti~m t~~ {~ur:hasc. I~n~ier m:,~. .it I rnJcr'~ .~pt~„i;. :lecl:~rr :~li th~ .um, u:urcd h~~ this ~1ort¢age to bc ~ ~mm~.liateh dor and p:i~~~hlr. I cnder .h.~ll ha~c ~~:~i~r.! ,~~:h .1pn~,n ac:~ler:~?c if. {~rirr t~~ the .ale ~~r transfer. Crnder ~n.f the prn.~n ~c~ whrm thc Pro~xrt~• i. t~~ br ,.~!.i .~r tr ~n+frrrr~ rca:h ,i~sr~rmrnt m~~nung thai the rre~lif of .uch person ~ ic s:iti~fact.~n t~• I.en.irr and th:~: thr intrr~.~ pa}: hfe ~~n thr .tim, ,«ured h~- ihi. \torh;age ~hall be at ~ii~h ratc a~ I_ender ~h.~ll rey!~etil. If l.ender has waicr.i thr ~,ptic~:i <<~ :~r~rlcr.~er pr~•~~idr~f ~n !hiti p:~r:~~~raph 17. and if Borrower's successor in € intrrest hac cxecuted a uriuen ~stii~mption agrcemcnt a~~r}~trd in ~~:iting M~ I.cn~ler. I.ender ~hall rele~~e Borro~~cr from al) ~ ublicatiom un~ier this Mi~rtc.~gc and thr ~ii~tc. ~ (f Lender e~~r~isr~ s;irh .,pti~~n t~. a~~~l~ratr. I en~lcr ~hall m:~il Borr~n~~r n~~ti~~ rf .+cceleratiim in a~cordance w•ilh paragraph 14 hcrcof. Surh nuticc ~h:~l! prov~dr ~rn~~~l ~~I n~~t Ir,. th:~n ?(1 da~~. fr~~m thc date thc noticc is mailed K~ithin Nhi~h B~~rri~wcr m:~c ~.:i~ thc ~um~ decl:~rcil ~lnr. If Brrr~~~~cr I.:il~ t~~ pa~ ~urh ~•~m~ priar t~ thc c~pirati~~n ~~f ,uch pcriod. ~ [.cn.tcr ma~. ~~ithi~ut furthrr n~tirr ~~r Jrn~and nn li~~rr~ncrr. in~c,l.r :~m rcmcdics ~xrmittr.i h~~ paragraph IS hcrcof. ~ No~-l?twFOte~t Co~~F~~~TS. Borrowcr and Lcn~ier furthcr c~~•enam and agrce as follows: a ~ 18. Acceleration; Remedies. Fxcept as pro~~ided in para~raph 17 hereof, upon Borrower's breach of any co~~enant or _ a1;reement of Borrow•er in this ~toriga~e, includirry; lhe co~enants to pa}• when due an~• sums secured by fhis MortRage. I.ender = prior to acceleration shall mail nntice to Borrower ac pro~ided in para~raph 14 hereof specif~in~;: (1) the breach; /2) the action y rcquired to cure such breach; (3) a date. not less than 30 dayc from Ihe d~te the notice is mailed to Borrower. by whic6 such ~ breach must be cnred; and (4) Ihat failure to cure such breach nn or Ireforc the date speci6ed in the notice may resulf in acceleration of the sums secured by this ltortRaRe. forcclosure by judicial proceedinR and sale of tbe Property. 'Il~e notice ~ sha0 furlhsr inform Borrow~er of the riRht to reinstate after acceleratiun and the righl to assert in the foreclosure proceediug the non•existenc•_ of a default or ~n~~ other defense ot Borrower to acceleration and fortclosure. if the breach is not cured on ~ or before the date speci6ed in the notice. I.ender al Lender s option ma~ declare all of the sums securcd by fhic Morfgage fo be - immediately due and pa~able w~ithout turther demand and may foreclose this MortRage b~• judicial p~oceedin~. Lender shall ~ be enhtled to collect in such proceedinQ all expenses of foreclosure, incl~~ding, but not limited to. reasonable attorney's fets, and costs of documenfan evidence, abstracts and tille reports. ~ 19. Borrower's Right to Reinstate. NMw~ithstanding Len~cr'c acceleration of the sums secured by th~s Mortgage. ~ Borrower shall have the right to have any proceedings hegun b~• I.ender t~ enforce this ~lortgage discontinued at any time ~ r ~ R001t ~91 PtiGE ~ ~ ~ ~ _ _ = - ~ - - ,~.~N =:w,~~ ~~y;~-~r~` ~~~`;~,~3~ _ - . _ . - ~~~s~ _ ~ ,~;r;; ; - : .