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HomeMy WebLinkAbout0712 1 rn.k~'~ ~.nurn .~?;recmrnt ~~r appli..~hl~ 1.~~~. li~~rr~~~~~r ~hall pa) Ihr arn~~i~i~t .~f al) ntotiga~;r ~n,ur.~n:~ prrmium. in Ihr n?ann~r pn~~~dr~l uiiJc~ {~ai.~~?:iph ? h~ yj( Am am~a~nt~ ~Ii.hunrJ M• 1~n~ji~ `~~M~•~nf'1~~ ~hi~~j _rp~r,~~~h 7. ~~h ui~e~~~l 1+~~#C~ m. sh.ill tk~~~m~ :ultliln~nal - ~n~lrht~dnr.. ~~t N~•rr,~~~rr .~:urrd h~ ~h~. . fc~ri l'nI~Z~ iStn~~~er :ini! 1 rn~l~~ :~~t~`~ M Mhcr t~rm~ ~~f {~a)ntrnL .uih :tm~~unt..h.ill F~ ~:~~aM~ ujr~~n m~~i~~ Irrm I rnd.~ tu B~~rm~~.•i r~y~ir~tinti p:~~mrnt ~hrrr,~1. and .h.~ll F.~.~r intrrc.~ fr<~m thr .I.~tc ~f .fi.hur.rmrnl ~t thr rat~ ~:ivahlc fn~m timc t~ timc .~n ~,ulst:~ndine ~?nn~•ipal undcr !hc \~,tc unlc~` raymcnt o( int~rr~~ at sn.-h r:~l~ ~+~~ul~t tk cuntrar~• :~~ri,;aht~ ia~~. in ~~hi~h ~~~n~ cuch amc,unt~ ~h:~ll Fxar intercct at thr highc~t ratc ~ . ~xrmic~ihlc und:~ :~ppli~:~hlr law. '~~~thin~ r~,n~.~incd in thi~ p:~r:ILR~ph 7 ~hall rcyuir~ 1 rndrr to incur an> c~pcn~e or takc .~m a.t~on hrr~undcr. ~ .!i. lotipcction. 1 cn~l~r ma~~ m.?~.e.u..i~~u tc~ bc m:~Jc rr:~.rnah)r ~mrir. uj,~~n .inJ imprrti~~•i. c~f th~ Pr.~~xrt}•. ~n~~•i~irJ that ! cnder .h:~ll civr R~~rroNCr noticc prior tu am• .u~•h im{x~tii~n ~~x:ifyine rra.~~nablr ~au+r thrr~f~~r rrl:~trd t~~ 1 cndcr'~ ~n~~r~.~ m ~hc Pn•Fx:rt~•_ 9. ('ondemnrtiun. Th~ pm:rrd. am• a~.ud ~r rlaint t~~r ~lamacrs. dir~r~ ~,r c~•n~cqurntial. in c~,nnritic?n ~?~ith am~ :undemn:?tinn ~~r othrr !:ikine ~~f Ihc Pr~~{•cn}~. ~~r part thrrcof. ~•r f.•r c~~m~~~•:+nrr in lieu ~•f condcmnati~~n: ;~rr h~r~h~• ac.i~nrd an~l .hall Fk raid t~~ I cnd~r. ln thc r~•cnt ~f a tnt;?I ~akinc ~~f ~hc Pr~~~rt~. thc pm:cc~le ~hall hc :i{+~li~~l t~• ihc .nm. cr~~ir~d tn• tf~i. ~t~~rtc:~er. ~~ith thr r~~«S. if :~m'. paid Io Aorr~~~?ir In thc r~•cnl i~( a p: rti:il ta{,~n~ ~~f thc Proncrt~. unl~.. Brrn~~~~r and I.cnckr ~~lhCn~i.~ a~r~~ in ~~ritin~. th~r~ chall Fx appli~~1 tc~ Ihr ~umc .~~urr.l h~ thi~ !~1~~rlLai~. ~u~h ~~r.•~.~rli;m ~~f ih~ ~~ro:ecdc as i< <yual J~~ that ~r~~p~~rti~~n ~~hich thc am~~unt ~hr wm~ ~r.urrd M ~hi. \l~•rt~aec imm~di:~t~l~ rri~~r ~hc datc nf takin¢ Ixart to the fair ntark~t ~•~luc of the ProFicrt~~ immcdiatel~• ~ri~~r t~~ the ilate ~f takinti. ~sith the h:iL•~n~c ~~f the pnkcedt ~~aid t~~ Borrower_ . If thc Pmpcrtt• ic abandnnc~l h~• RorroH•cr. or iL aflrr n~~lic~ h~• 1 cn~t~r tu B~~rr~~u~r th~t thr r~ndcmnor ~•ficrc t~ makc :in aw:~rd ~~r ~cttlr a ~laim fi•r damae«. Ri~rrc~w~r f:~il. t~~ r~.~~nd t~~ 1 cn~ler Nilhii~ 1(1 ~1:~~. aftrr th~• ~i:~tc ~u:h n~~ti~~ i~ mailcd. I_cndcr i. authoriled to collrct and ap~h• the pn~ccrJ,. at 1 cndrr'. ~~~~ti~.n. rithe~ tc~ rc~t~~ratic~n ~~r rerair ~f the Pn.~rt~ c~r t~~ thc .um..~rurrd M• thi. ~1<•rt~ace l.`nie,~ l.rnder and Borm~~~r ~,then~i4c aQree in ~.ritin~~. am w.h :i~~plira~;t~n rf {~n~~ed, t~~ ~rin~ipal ~h~~(1 n~•t evcnd ur ~x..tpune thc Jur J:~tc ~~f thr m~~snhl~• installmenh r~ferr~d ti~ in {~:~rakra~~h. l, and herc~•f ~~r chane~ th~ amc~unt ~f ,url~ ~n.talln~~nt~. - ' . lC. Rurrower \'ot Releaced. l=~tLn~ion ~~f thr t~mr i~,r ra~m.nt ~~r mc~dific:~N~~n ~•f :~m~~rti7:ttii+n ~•f ~he .unn ~ccurcd h~• thi, ~i~~nr~rr s;r:~nted hv 1 enil~r t~~ am• ~urce..~~r in intrrr.t .~f B~~rr~ti~rr .h.ill n~t ~~{•~r:~t~ t~~ rele:~~c. i~i :im• m:~nnrr. thc.li:?hili~c ~•i thr ori~incil B~~rr~,~~cr :ind R~~rrc~~~cr'. ~ii:~~~•~~r: irz interc~t. I cndcr ~h:dl n~~t hc rr~~nirr~i t„ r~~mmci~cc • E~r~,~rcJingti :tgaimt wrh aic:c~s~~r ~,r retuau lo ~~trnJ timr fnr {•a~•mrnt i~r othcn~i.r m~~dif~ :~m~,rtiY:~~r~n ~,f thr sum~ ~~:urrd h~~ lhic Alrrtgag~ h~~ r~a:rn ~~f :mc dcmand ma.k h~ thr ~vie:nal fiorn~~~er .~N~t R~:rr~~~~cr'c ;i~~:r..rr. in imcrc~!. 11. F'ort?earance b~• I.ender \nt a~ti'aivrr. :~m Irrtkar,,n~r h~~ I rndrr in r~rrii.in~~ .ui~ ri~ht .~r rrm«I~ hrrrnniirr. i~r ~~thrrN~i~c afirrdcd h~~ :~pplirahlc law•. ~hall not t?~ a w.~i~cr t~f ~,r prerlud~ the ~~c«iu i~f ant .u:h rieht ~•r rcntet~~'. Thr {~rc~rurcmcnt of insurancc or thc pa~~mrnt ~~f ta~c~ ~~r ~~thrr licn~ .~r rhare~~ hc l cndcr .hall ncn Ik :i ~~.~i~rr .~f I rii.tcr's ri¢ht t~~ accrlcr,itc thc mat~~rih• ~•f thr ind~htrdn«r .r_urr.t M thi, \1~~rt~_:izr. 12. Rcmedie~ Cuniulati~•e. 411 remc~iiec ~.m. i.3cd in thi. \tartc:?~e :irc ~li:tinrt :~nJ ~ nmul:?ti~~~ t« .~m rthrr rieht ~~r rcmr~lt ~ind~r thi. \1~•rttagr ur atT~~rd~d h~• la~~ .~r ryuit~. :~n~i m.~~ F+~ c~rrci.~J c~~ncurrcr~!h. in~l~~~~ndcnth .ii:~c..i~eh~ li. Succescorc and Actii~nc Bound: Joint and Se~errl I.iabilih; ('aption~. ~lic ~~~~~nanh and acF~rm.nt. hrrein :~~ntainril tihal) hind. :~nd thr ri~hi: hcrcunder .h:~ll mnre tc.. thr r~.~,e~ti~r wcce,.~~r. and a.~ikn~ ~~f 1 rn.irr :~n~i R~~rruuer_ ' .ubjcct tc~ thc pr~~~i,i~~m ~~f paratiraph 17 hcrri,f. All cu~rn.inh an~i agrcrmrnt. ~~f R~~rr..~~cr ch:Jl t.~ i~;;nt .ui.i .r~eral. (ltc cartiun, :~n~l hra~iing. ~~f the pnr:~gr.iph; nf Ihi~ 11~~rtg:igc ar~ f~~.r c~•mcnicn:c ~~nl~~ anil arc rn•t h~ iiccd to ~ntcrrrrt i~r dcfinr thc ~rc~~ici~~nc hrrcc•f. l~l. \oticc. E~rci~t i~~r an~• n~tirc rryuircd un~lcr :~pplicahlr 1:~~~ t~~ hc Li•r~n in :in~~thcr manncr. !:u :inv noti~e t~ Bc~rr~~Hrr pr~~vic~rd for in thiti ~1nrt~a~~~ shall he gi<<n hy mailin~ ~urh n,~tirc I~~: .•rrtificd mail :~ddre,•r~l t~~ R~,rm~~cr at lfll' ~fi~~~~f~~' ;~l~l~~l~~ ~~f :1~ ~Ul'~l i1If1Cf :It~(~f~~~ :li Ki~ff~~NC~ Ill:l\~ i~t'~1~_[l:~li f~\ u~UI~~' 1~~ ~ C[lilcr :~a rn~~~i~l~i1 h~rrin. :in~l i ~hr am n~~lic~ I Cnder ~hall Fk ki~rn h~ rcrtifir.l m:+il. rrtuni r~c~•i~~I riyu~~tr~l. t~~ I ~n.ter~ :~d~lrr~~ tt.tl~t) h~rcin ~x to ' .nch „ther addr~~ti tcnJrr m:i~ de~ienate h~ n~~ti~r tr 13r.rr~~~~rr :t. {~n~~i~!<<t hrrriii. :1~~~~ n.~ti~~ ~,n~~:~1r~1 f~+r in thi~ i ~lrng:~,e sh:~l) Fk ~Iermed t~~ h:~~r h~en eiven to B~•rr.n~rr ~~r I rnder •.~h~•n ~i~~~n in thr m:~nner .1e~ien:ited hrrrin. ! 15. 1'niform ~1orl~a~r: Go~ernin~ 1.•rN: Se~erabilih. 1 hi. l~~rm ~~i nu,nLa_r :~,mhinrc nnii~~rm ~~~••<<~ant~ f.~r n:~ti~•nal n~r an~t n~,n-unifrrm ~~•~cn:~nt. ~~ith limitr.l ~.iriat~un~ hc ~uri•..t~.ti~,n t.~ r~,n.t~tutc a iinif~,rm ~r~uril~ iii.trnm~nt c~~~cring ' r~al pn,~rt~. Thi. ~lurtg:~ec ~h:ill hc _~n•rrnrd M~ thr L~~~ .~f thr iuri,~l~.ti~+n in ~~hirh th~ Pri~~rt)~ i. 1.+.:it~t1. In ihc <<•~nt !h.~t am~ [+r~~visi~~~i clau,r ~~f Ihi. ~1i~rtgac~ ~~r thc \~~~c ~~,n'~icl. ~.+iih :~r~lic.,Mr I:~~~. .n~h canfli.t ~h.~ll ~~r.t afTc~t ? ~~thrr rru~~.i~~n~ ~,f (hi~ ~t~~rte:r,c ~~r lhr \i~t~• ~~hi:h ..in h~ _i~rr rtir:t ~+i!hrt~t the ~t~nili:tin'_ rn`~i.i~,n. a~ui tu thic ~ ~~„i ~t,~ nf th~ \lrrt!_a!_~ ana th~ ~~~1~ :irr ,i~:l.ir~d i~~' ~~~~rrahlr S - 16. BormNer'c ('up~. Borru~~cr .h:~ll i•~ liirnnhc~l ~~mf~~rn~r~l ~~1 thr '~~~tr .~nd rf thi. ~1~~rt~_:~L~ at thc timc ~ ,~f r~rr~~~irni rr af~rr r~:~~rJ.~~i~m hrrc~~f. ` 17. Trrncfer of the Prnperl}: :~~tiumptiun. If :~li ~~r r.~r~ ~.t thc Pr~~rrrt~• ~~r an interett thrrein ic ,~.td ~,r Irancferrcd _ h~~ Hnrruu~r aith~~ut I.cndrr'~ pn~~r ~~~inrn iun~~nt. ~~~ludin~ ~.i~ ~hr ~rc.~ti~~n ~~f lirn ~~r ~nciimhr.tn~~ ,tth~~r.hnatc t~~ ~ ~hl. ~t~ttt~:~t~. ~h1 th~ ~r~.it~~~n ~~I ~?~sr.h:i:r m~~t~r~. .r~~~rit~ ntrr~.I f~~r h~~;~.ch~dil appli;m:e~. Icl Ir:~n.fcr h~~ de~'ise. _ ~Ic.r~nt ,~r h~ ~•~rratiun ~~i L~~~ up~~n thr ~Irath ~•t ~:~~i,t ~rn:un ,•r i,1~ thr erant ;•f :im Ira~ch~~ld intrrest ~,f ~hr~~ ~-c:+n ~~r lc.c ~ ~int ~~•~Eiainin; c~n ~~pli~+n t~~ rur~ha~r. 1 cn.ier m.~~. .~t I rr.Jrr'~ ~~j~t~~•n. llCilarc :ill thr ~um~ ~lurrd h~ this ~I~~fl_L':1_L`C tc, h~ ~ ~mm~Ji:it~h- due and (~~}.iMr. 1 rndcr .Fiall li:~~r :•.~~~~J •~!.h ,~~~~i~~n t~~ :~crrlrr.~tc if_ ~ri~•r t~~ thc ~:~Ic ~~r tran;fcr. Lrn.ler e .~n~t thc re~~~~n 1~, ~chrm ih~ Pr.,~rrt~ i, t~~ hr ,~~Itl ~~r tr.in.trrrr~l ~r.~:h .s,rrrmrnt in ~~rit~nt~ tfi:+t th~ irr:lii ~~f .urh ~r«~n _ saticfact~~n t~. l rn;irr and that thr intrrr~~ ~,a~.~hir rn th~ .~;m~ .r:ur~d h~ ~hi. ~1~~n_agr ;hall he :~t t~t.h rate ac 1 ender .h.~ll reyu~tit If I~n~irr hat ~c:~ite~1 tft~ ~~(~i~rn !r :~.'c~l~r.~t~ ~~r,~~idr~l in thi~ ~.~r.~~_t:~~h 17. and if R~~rr.,~v~r'. ~t~c~e~st~r in ~ ~ntrrc.t ha~ r~e:utc.l a~critt~n ~s~um~+td~,n :rzr~rmrm ac:c~•trd in ~.riting h~~ I ~mlrr. Lrn~lcr .hall rel.:?u. B~~rro~crr from ali ,~hliLati~~m un.lcr Ihi. ~t<~rtc.i~c and thr \~+tr. - !f I en~ir ~~rr~i~i~ .u~h ~,~Ii:~n t~~ ,i:irlrr.~tr. ~ rn~irr ~h.~il m.~il R~~rrr+~rr n.~ti~c ac~rlcr.iti~~n in :i~c~•r~lan~c «ith z~ F~.itc~gr.iph 1-3 h~re~~f. Such nuticr ~hall pn~~•itlr {~iri~~~l ~~f Ei~~! k~• than i(1 ~ta~~ in~m'Ih~ datr Ihi nMice it mailed ~cithin ~ ~,~hi~h B~~rr,~~~rr m:i~ thc .unt. ~1r:t:ur.t ~1u~ II R~~rrr..ri t.ri. r~, ,u~h ~imn pnrr t~~ thc ~~~irnti~,n ~~1 ,n:h pcri~xl. ' Lcn~l~r m:+). ~~ith~~ui f~:rtt:.~r nt~tirr.,r ~icinand.~n It~,rruti.~r. :n.~,l.c :~n~ rrmidic. ~:.rmit~c.i h~ ~,aracrarh IR hercof. ~ ~ - ~(~\-1 ~11E ~!H~t C u~ t~?\"t~ fi~~rr~~wer anJ I rn~ler funhrr ~c~ccn:tnt :~nd aeree :u folli~ws~ . _ 18. Acceleralion; Remedies. Fxcepl as pro.ided in paraRraph 17 hereof, upon Borrowerc breach of am• co~•enant or = a~rernient nf Rorrower in this ~1ort~a~e, includin~ the co~enants tn pa~ when due anJ sums secured b~~ this MnrtRaRe, Lender ' 'T prior lo ~cceieralion shal) mail notice fo Borrnwer ac prorided in para~raph 14 hereof specif~ih~: (1) /he breach; t2) the action , required to cure such breach; (3) a date. not less than 30 da~~ frnm the date Ihe nolice is mailed to Borrower. by which such ' breach muct be cured: and (4{ Ihat failure lo cure ~uch breach on or before the date specified in the notice may result in acceleralion of the sutas cecured h}• this lfortga~e, fnreclo~ure by judicial pmceedinR and sale of the Properh~. The notice ,haU further inform Borrowe~ of Ihe riRht lo reinst~le ~fter acceleration and'thz riRht to acsert in the foreclosure proceedin~ . ; the non•eriStence of a default or any other defemr of Borrower to acceleration and foreclosure. Tf Ihe breach is not cured on " or before the date specified in the notice. t.ender at I.ender's option ma~ declare all of the sums ~ecured b}• this ~tort~~e to be immedialel~• due and pa~able wiihout further demand and mac foreclose this ~tort~a~e b~~ judicial proceedinR. Lender shall be entiUed to collect in such proceedin~ all expenses of foreclocure, includin~, but not limited to, reasunable attorney's fees. and cosks of documentary e~ idence. abstracts and 1i11e reports. 19. Borrower's RiRht to Reinsfate. NotW ithstandinE I.rn~ler'c accelerah~~n uf the ~umc ~ecurecl by this Mortgage. _ Borrower shall have the right to ha~•e .in} pro::ec~ingti txeun h) I.~~der tc~ cn(orce thi. ~t~rtgage ditico~tinu~d at an}~ time } eooK Pac~ 7~ q:~ - ~ - ~ y:~.--~.W-- - - - , z~= _ ~ ~