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HomeMy WebLinkAbout0905 ~ l'll.~:' ? ~~f1lll'll :1\fC:l Kifl ~~f :IF)~t~li.l~~~l' ~.iN L~`I{~~~\l'I \~Ll~~ ~~.1\ !'.lt .+Ill.~l'ill .t~~ I11JIlLdtl' :Il.l~l ~Il~~ (•ft'i1LUt11? H) Ifll' rn.~n~irt ~ir,1 undrr ~~~~.~~;r.y~h hrir,~f. \i~~ .~tn~~un~~ ~l -l~ur,r~i h~ Icn.lrr ~•~u.ir.:n~ t„ .:,i, E•.,i.~,:.;~~h ' •~it{~ .n~rrr.i Ihrr~•~~!i ~h.il! hr::mir :~~1~liu~~n:ii III:~C{`~l'~~~li~.? {~~Ht~~'.\~f 1l'iUft'l~ h~ IfU~ ~~~1'I~.I~i' ~~~~:1 ~~tt't .IR~j ~ iih~~': .1!'fCa 1.~ ~`1~llf ICflih ~l:i\~Rllill. ?UCfI ann~iint. •.!i,~ll ix ~•.~t.~hlr u~~,~n n~~~i,r fr~~m ! rnd/ti.-t~•;fic~+r~~~~~•r ~~•,:ur.~inL ~~.~~inrnt th~!r.+t. .::~~1 .h.~ll Ikar intcr~~t fr.~m thr ~~.ltC ~N .~1~hllf~l'flll'lll :il ff1: !.1~1' (~;1\.~~~~C (f~qll 11~~'t(~~IIfi1C 1~I1 ~~l1l~Intli~lllQ ~~fifll'~1:~~ '.f.ll~l'f l}l~' ~~~1C Ull~l'~~ (1a\~mcnt O~ ~nt~~~~~ :it ~u, h r:Nr .~~~ul~l h~ i.~nlrer~ :i{~pli::thl~ I.~~v. in ~~hi.•h <<•~t?1 .ti~h :~rn~~~~mtth ~:tf iltt~rt lh~ hiehetl r:?Ic ~xrni~,~iM; un:trr :~~~~?lia?~1e I:+V: T~~~Itiing ci~nl:~incd ~n Ihi. ~ata_ra4~h 7.hall reyinr~ ~~~clr t~~ incu~~C~pcn:c or lakc .U:\ c~:`.i~~t: hi•f~Utl~~'I. ' 8. Imprclion. Lcn~lcr ma~• m:~kr ~~r..~ii,~~ A~.bF inadr rra.on:~hlr rntrir~ ur.•n :~nd im?k~t~.+n, ut Ihr PmFxrty• pmviJrJ th:~1 ! e•i~ler .h:~ll ~i~e Rarru~~•~r n~~ticr pii~~r to an~~ ~u~h m.{w~li~~n .~krif~'in~ rr.~s~~n.~hle ~.n~,r thcrcf~~r ~ci:ned t~~ 1 e~der's ~ntrrr.t in ;hr ProFxrt~•. . 9. Condemnalion. TN~.prc~-r~d~ uf ~iiv a~:~rd .a ~laim fc~r .lama~cs. ~iircci o~ a,mryucntial, in ~~~unc:tion ~vi1h am• ~,~nJ.•mn:Hi~,n rr ~ah~r Ia{.im~ ~.f ~hr Prorxn~~. ~r rart thcrr~~f. .~r f~~r crnvr)':~n~c ~n liru ~~f r~~ndcmnatian. ern c~rcM' ~«igncd an~i .h.?11 h~ ~~aid ti~ I.cnJcr. . . ln Ihe evCnt nf lr~:~l t~kinL ~~f fh~ Pri~~xrt)'. the prnice.l~ ;hali Fx a~~~lie~i tc~ !he ~t~mc .~cur~d h~• thi. ~1~~rlgaQe. with thr c~cr if am•. paid i~• R~~rr~~~+~r In ihe cvcnt ~~f a p:~ru:~l ~:~{,in,~ ~~f ~h~ Ymnert~ . unle.c B~rr.~wcr and I.endcr ,~thcrwitir agrcc in wri~in~: thcrr .hall tk a{~pL~il t~~ thc ~um~ ~rcurc.l h~ +hi: \1~~rti.~tr .u.h nrop~•rti~•n thc pnx:cedc ,~s ic cqual to that pm~H~rt~~~n .~hich thc em.~u~it ~f the tuin. .r:ur~d hc ;hi~ ~1~•n~.i~•c inrn~:li:~tclt ~+~u~r t~~ th~ date of ~takink hrari to thc fair mar{:e1 valuc af thc Propcrt}• ~mn~cdiatci~ , ri+•r thc ~latc of i:~kin~~. ~ith Ihc h:ilanc. ~~f ~hc procccd~ ~aid t~. B.~~r.~wcr. . ' lf the Pr~~pern• i. ;~hand~ned b~ R~~~r~~~~•er. ~~r if. aftcr n~~ticc h~• 1 rnJ~~r f.~ B~~rrr~~~rr that thc condemnor ~~iiers ta make . :~n :~w:ir~t ~•r ~rttle claim f~~r d:,n;.~;~~. B~~rn,~v~: f:iit, t~~ r~~~4~nit !r I cn~lrr ~~ithin i(1 va). af~er the date c~ich n~tire ic mailyd. l.rnder ic auth~virrd c~~llr~t and :~p~l~~ thr pn•rr.dc at 1 cn.frr'~ rptic~n cither to re+toration ~r rcpair c.f the PmEx•rn ~~r t.• Ihe wm. .c.t~r~.1 h~ thi. \1~rttaLC. l'nk;• I rnd~r a~d Bi~rr,~.+.•r rth~n.i~~ :igrr~ in ~~rilin;~. ;in~ •n:h li~.iti~~n ~~f ~m:c~d~ t~~ prin:i;~al .h.~li nnt c~tcnd ,:r ~~,.t~~~~n~ thr dt!~ :iatc ~~f lhi m,~nlhh~ in.~ailm~nl~ r~trrr~ti t~~ in ~ar,~LraPh. 3:tn~i hcrt~,f rr rh:~nLC ihe am~~iinl i~f ,uch in~tallnt~nh. - 10. Borruwrr ti~,f Rclex..~d. 1=~h i~,i:,n ~~t thr timr f.~r ~a~m~nt ~~r rn~,difi..cu~,n i•[ :im~~rti~ati~~n .~f th~ ~unt~ cecured M• th~. ~f.,rt_~.~e~ cr:~ntr~1 hv 1 rn~lrr tr ~nti- ~u.:crcti~,r in int~ir.t ~,f Rc~rm~+rr ~hap nnt ~~~cratc to rctr:~~r. in :tnt~ m~nner. thr I::ih~lii~ thi Or141fl;tl BUfT~~'.~YI :if1~I Iii~f[l`\Ylf~? w:.r~,~~c. in intcre,i 1 c!::Icr ~h::il ~~~t !k rcyuin•.1 t„ ci~mmrncc ~~titiil'.itfll~ :II;~~IId ~lsCf` ~lf~~:l'~i~~f t~f fl'itl~t l~~ l\1CI1.~ 11llli ~1~~ ~1:1\~t1SCt1f ~i~ ~l[fl:(`.t1~C f11~~Jif~~ am~~rtirati~~r~ t~[ l~ll' S:II11S ~_ciur.l h~ Ihic ~1~~rteaec h~ r~~.rr~ ~.f .~!i~ ~~man~1 m:~~tc h~ thr ~~ri~~i~•.~I lii~rru~~rr .i+ul ~~~rr.~~~~cr's tur:~,~~~r. in intcre.t. I1. Furberr•rnci b~ I.roder \~~t K'ai~er. ~~i:~ f~~rhi.li:~r;~c hc 1 t•nii:•r in r«r~i~ir~ .:m riLht ~v rrmrd~ hrrc~m~lrr. or ~~th~rw•ix :+IT..rdc.i h~ appli~ahl~ I:;w. .h:.ll n~u -!k a~~ai~cr ,•r pr~~~udc th~ ~~~rc:cc ~,f am• ~uch rieht „r rcmcd~'- I-hr ~rocurrm~nt ~~f inci:rancr~ur !hr ~armrnt ~•f t.~~r~ t~r ~,th~r lic~~. ~,r ~harLCti h~ 1 ~ndcr .hali not tx~ .~:~i~•~r .~f I cn~lcr's richt t~• acc~lrr.~tr thc maturit~• of thr indcht~dnr.. .~_~~rrd h~• thi. \i~~r.zacr. 12. Remedie~ ('urnid:~li~~e. Ap reme~lic. rr~~~i~1~~i in thi. ~1~•rtca_~c :~rr .ii,tin:t .:~::1 rumulati~•~ t~~ ~~th~i r~eht c~r rcmc~ic i~:~dcr thi~ ~SJIT_.~_~ l~C :i~~l~t.~C~~ t~\ ~~f tylltl\. :~l1~~ }l~.t\' ~t~ t'~t'f~I~C~~ ~i~Ill'U:+:nth inJc~ndcntl~ ~,r ~Il~ii~~l\'t~\'. li. Succeticn?~ and 1w~ixnc Bound: JoiM and tie.cr.d t.iabilih: ('aptionc. Thr c~~~cnants and aerrrmrnt. h~rein :rnt:uncJ ~hatl I.ind. :~n.d :hr riehl. h~rrund~r ~hall tnur~ t~~. ahc rr,p:~ti~e sii~.:«,c~n an.l a~~ign~ ~~f 1 cn~lt:r and B;~rr.~~ccr. .uhjcrt t:~ th: ~~t.ni,~rm E~ar.~gr.~~;h 17 h~rcol. :\~1 cu~en:~:th :en~l :~~~rrCment~ ~+t R~.rr~~:ccr tih:~ll tk juim .uid ~r~cral. fhc ~.~ptir~i. .;n~t 1t~a~ii~~~. rt thc {~a: ~c~arh. ~,f thi~ ~trrtg.e~sr arc C~,r c~•tn•rn~cnr~ ~~nl~ :~n~l :~rt- n.,t t~~ hc ~~ecd to ~nt~rnr~t ~~r cl~finr t~~r ~m•• «i,~m hercc~I. ~olice. E~:e~r (~`f :til`: Il~l(ICl' Cl'~~111~./~ tlll.~i'f it~l~,ll•_;~hl~ ~:1:~ 15~~ ^,1\~i(7 :Il ;111+'!fll'f manncr. LII :!!lC I1l~Il~t 10 Rurriwi: }~r~~~idrd f„r ~n Ihi, \1~~~t~:r~C Sh:~li he gi~•~n h~ ni:~iiin~• .ii~h rn~ci~i ht ~~:r'~tic.l m:iil :~ddr~~.~d t~~ R.~rr~~~cr at .th~ Pr~~pcrt~• :~.idre~. .~r a~ .~inc ~~thcr :itlllii'~~ .ia B,urr~~rr n~a~ clr~i~_n;it: fn ie~~iic~ I~n~l~r a, pn,vi~l«i hir~in. and ; ihl :u~~ n.~tirr t~~ 1 ~tulrr .h:~ll hr ei~'rn h~ rcr~iti~.l m:+~l. rcturn :~~~i,~: ;r.;a~,.t~.!. t., I cn~}~t~. ad~lrc~~ St~,ed hrrein ~tt to ` .uch ~~thcr ;u1dr~.. 1 rnJ~r m.~~ si~:i~~ale h) n~~ti_~ 1~~ B~~rrn~rr ~n~cii!r.I hC~C~!1 ~11~ (1t~11iC pnn=~l~.1 f~+r in Ihir ; - ~ ~t.,rikage sh:Jl Ik ~l~ci~~~~i t~•'i.;•.c tkr;~ to ii.~~r~~crr ~~r I~nu.-r ~~h~n gi.rn in ~h~ ma~~n.er d~.i~r.:~te~ t~~r~in. ? l'aiform ~inrtKaKr: Guccrnink 1.:~~~: Sc~crabilil}. ~T^~, t:~: m„f mnrt~~a_r ~~~mhin~ti !~nif~rm .~•~=c}iant~ fnr n:iti~+nai E ..:\l an~i t1~V1-lilll}t~fiil :~'.~~'I.ltiP. ~~itfi limitr:! \;1f1d11~~f1~ M- ~uri~.f!:!{~~il i1~ :~`IiSh1111C Uil'~(~fl!1 ?CiU~il\' 111~11IG11CIlf cm~ering ~ rc:~' ~r~~~rrh. lhi. ~t~~rt_.~LC ~h:ill he g~~~crncd h~ the lat, r~ 'h~• iuri,.ii~~~.~n ~?hi,•h thc Prc?~rt) i. I~k.~tcd. in thc :~•c~~t th.~t an~ ~ri~~~~i~,n rr ~lau~~ .~f lhi~ \1i~rt,:~~_~ rr thr .~~~nt~i~h ~~itt~ ~p~!~~.~fil: i:~n. ,~~:h c~~nilir~ •jt:~lt nc~t affe~t r ~11{1Cf E,n~•.!,i~~m i~f ~~1:. \~~~R~•:~Li' ~~f tht \~~f: '.~h~~~~ :.t~~ hi _!:~n ~I~t:[ tai~{1~~~~1 fF1C :~~n!~!:Il~1L ~ft~~l~ii~~l. :~11~~ [i~ 1~115 ~ :.nd thr ~~~~ci~i~~tl~ ~~f t!t.• \1r:1~_:~L'~ :~t,~1 thi \rl~• :~~i J:~'..ircd t~~ ~ ,~}•I~~. s 16. RorroNCr's Cup~. B~~rrr~+c: ~h.~ll h~ fu~:i~.Lc~l ~,~~~;~~;mrcl c,.~,~ ,•t \~~t. .~i,~ ,~I th~~ ~1urt_ac~ at [hc timc ,1 c~riuti.~n ~~r :itt~r rr~~~rd:~tion hrre~~f. ~ 17. Transicr uf thc Prupert~: .~~~umplion. I( :~li ~~r :~n~ :~f th~ Pr.~~ert~ ~~r an intrrctt ~hrrcin i~ .~~ld ~~r tran~ferrcd h~~ H~~rr.~w~r «ithrut I.~i~drr', prirr «ritt~n ~,~n.rnt. r~~hi.iinL thr ,rc:iti~~•~ ~~f lirr rr cn:umhran:c ~uhor~imatc to ~ t!~i, ~i~~rt,•aLr. th1 tf~r ~rcatu,n r( .i ~ur.•h:i.r m,~nr•. •c~~:~ii~ ~m~r~.i f~~r h~•u.rh.•IJ a, pl~;!ric~~. /c) tramfcr hr de~~ise. ~ Je..~nt .,r M.~rrra~ioi:.~' 1:~.~ ;iPi~n th< <irath ,~t n,r.! t.n:uu ~~r t.i~ thr er:int „f :~m I;a~ h.•ld interest i•f thre~ ~'i:lf~ (lf ICSS ~ n.~t r~mtainin~ :~n c~pti~~i~ t~• ~ur~h:~;r. 1 rn.fi•r n,.n. .~t 1 rr:lr!'~ ~~{~t~,~i .~i_~t:ir~ a!i thr ;um. u:~urrd h~~ th~~ 1lorteagc to ix ~ ~n~mc,liatcl~ clu~ :ind ~~a~:~Mr. 1 rnJ~r .h.~il h:r.: :ti:u~r.? ~.~:h .~~n.~n s,• ~c~rir~.~IC +f. {~ri~,r t~, thc .ale ~,r transfer. I ender ~ .~n~i thc per~i~i~ t~~ «h~~m thr Pr,~prrt~• i..i~~ hr ,~~~J ,,r t; ~r,.,rrrrcl r~.~~h .~,~r«mcni in Hrirno that thc ~rc~iit ~~f such rcni,n ~ s.~ti~tart~,;~. te~ ! rn~trr .~~id th:~t thr imrrr-i E.a~.,hlc rr. thr .+i~~i, >~:urc~l h~ t!~i• \iortza~c ~hall hc at ,u.h ratc ac l.cnder ~ .h.~ll reuur~t. If 1 en~icr ha~ ~+ai~~.1 thr ~,pti~~n ;~~~clr•.~tr {~r~•~i~l~~ ir, ~hi~ ~+~ra_•ra(~h 17. an~ i! Burr~aer's ~uccessor in a intrre;t h~. t~ccif~eJ a~~rittrn as.umptie~n airrrtnrr:t a:~.{~~rd in ~+ri!in_~ h~- 1 rn.lrr. 1 en~tsr ,hall relea~e Rc•rro~~cr from all y~ ~ " Y ~+bli~at~om uncl~r thi~ ~i,,rtea~:r and thc'.V~~tc. ~ !f I ender e~~rci,r~ tinch ~~~~tinn t~~ ai~~l~r.~tr. I rn;i~r -.h.~!I mail Burr.,~rr natice ~}f a.~eleratit,n m ac•_~~nlance tiith raragraph 14 here~~f. Snch nuticr .h:~ll 4~r~~vi~ic a~k•ri~~~t :~f n~~t le+. thsn ;~1 ~lac. fr,~rt lhe date thc notice i; mailed w'ithin - ~~hi:h Brrr~~~+cr m:+~ ;ti.~~ thc uim~ ~1e:I:~rrJ ~1~Fr It I{~~r~u~,rr '.iih tr pa~ wrh ~~~ni~ pri~~r t~~ th~ e~pir.itirn rf ,urh pcriod. Len.ler m;~~'. ~~ith~~ut furthrr noti:c ~~r ~i~m:+;~d Ii,~n~~i~rr. ~n<<,F.~ am r~mcdie. ~xrmitte.l h~- raragraph IC hcreof. :a ~ V~~-U~iFOK~~ CovF~~~TS. B~~rrower :~nd 1 enJer furlhcr c~~venant and a¢rce as foUe.us: ~ 18. Acceleration; Remedies. Ercrpt as pro~ided in para~raph 17 hereof, upon BorroN~er's breach of am co~~enanf or aRreement of BorroNer in Ihis llorl~:a~e, includinR the co~enants to pa} Nhen due am sums secured b~• this ~torf~a~e, I.ender _ prior to acceleralion shall mail notice to BorroNer as pro~ided in para~raph 14 hereof specifting: (1) the breach; (2) the action - required to cure such breach: (3) a date, not les~ than 30 da~~ from the date the notice is mailed to Borrower. by which sueh breach must be cured: and (4) that failure to cure sucfi breach on nr before the date specified in the noti~e may result in acceleration of the sums secured bp Ihis ~tort~aRe, foreclosure by judicial proceedinR ~nd sate of the Property. 71~e notice shall further inform Borro~er oi the ri~ht to reinstafe aiter acceleration and the ri~hl to assert in t6e foreclosure proceedir~ Ihe non-existenc_ of a default or am- other defense of B~~rro..er to acceleration and foreclosure. If the breach is not cured on or before ~he date specified in the notice. Lender at I.rnder's option ma~ declare all of the sums secured b~ this liorfga~;e to be - immediatel~ due and pa~able without further demand and ma} foreclose this rlortRa~e b~ judicial proeeedin~;. Lender shall be entitled to collect in such proceedin~ atl e~penses of foreclosurc. including, bu1 not limited to. reasonable attornev's fees, and costs of documentary evidence, abstracts and ti11e reports. 19. Borrowe~s Right to Reinst~te. Notw'ithstanding Lcn~icr's ac~clcrati~~n of the suros tiecured bp th~c titortgage. - Borrower shall have the right to have an}~ proceedings txeun h} I.ender tei enf~~rce this Llortgage discontinued at any time ~ - s . z 600it PAGF ~ ~ ; , ~ - - - ^ . _ _ - ~ ~ ~ ~ ~ ti., ~~~~,w:~ ..-~.,~,-~~~;v ~~~`~~a,.,~...~.. , ~ Y~~~ ~