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HomeMy WebLinkAbout0289 1 r~~.l;i ~~.rut~n .~?;rc~iucut .~p~,li..~h!r L~~~ It~tirHr~ ~h.~li th~~pnu~~int .~f .~Il nu~(;~yµ m.u~.~•,_~•.Pt,~y~un~~ ~n Ihr . ~ t i nr,inr:r ,~i~I:J t:~id.~ ~~.~~.iir.~~~l~ ~ hrrc.~l . .i . t? .ui!.~unl, ~h•.hiu~~•~1 h~' I rn~lrr ~~;ii.,~.~n! 1~~ Ih~. {~.~r.~:~~.~ph '~~~ih u~lCf~~l ~hrrr.~n ~hall {~r:~~i~~r a~1~liUuual in.fr~+~i`~~nt•~. ~4 ~3~Hf~~~~~( ~i'iNfC~~ h~ 11U~ ~~i~fIL.~Li' ~ n~~'•. ~i~~lt.~•a~'i .~n~i ~ c11~~rt ~LfC~' 1~, ~~~f1C~ It'fill~ ~~1 ~~:1\t11C111. ?UiFI aiin~unl. ~!i:~ll h~ ,l`.~~ahli ujnm i~~~u:~ Ir~~m I r~iilrt lu R~~~r~~~~~•r t~.~ur~l~n~ ~~.~~m~•uI Ihrtr~~l. an~l ~h.~ll iq•:~~ inlr~~~l fr~~nl ih~ J.~Ir ~~f ~li.hnr~rmrni ~hr r:~ir {~.~t:~l.l.• (n+m timc tn timc ~~n ~,~it~~.~ndlnk prmiip:il und~r th~ '~~~1~ unlc~. pa)'mcM i~( intrrr.t :it ~u~h rair ~+rul~l ?x cc,ntrar~• t~~ :y~pl~~~~IrJ~~~n~~ h rLrm .urh anu~um~ ,h:ill Fkar ~nlcr«t at ih~ highc~t ratc prrm~.sihlr i~ndrr :~p~+l~~:ihh la~~ !~uthin~ c~,n1:~ td ~ plrakr.~ph 7 chall rryu~rc I rndrr !u incur am~ r~{kn.c or ~akc :~n~• :~r~wn hrrrund.r. ~ fi. In~prcfion. 1 rn~irr m:i~ mal.r ~~r ..~~~u ~o F+c madr rra~~,nahl< <n~ric. ~y,,~n :~nd im{xrt;~~n~ ~~f thc Pny.rrty'. pruvi~lyd ' ; that I rndcr ~hall ~i~~ Rurm~~cr n~~hcr pri~~r tp an~• ~uch mS~~liun .}xcily~n~ rc:~~~,nabk r:+u.~ Ihcrc(~,r ~.•L•~ICd t~~ 1 cndcr's ~ inicrc.l in Ihi Prup~tl~~. • . 9. ('ondemn•r1i~,n. Thc pr,xrrd. ~~f an)• a~:~rd or rla~m fur dautaccc_ din:~ .~r a,n.cyu~nli:~l. in c~,nncrlic.n aith ant• ~ .~~n~lrmnatiun i~r athrr ta{~in~ ~~f thc Pn,{xrty, ur par~ thc~~uf. ~•r fo~ convcyancc in li~u ~~f ~•ondcmnaU~~n. a~r hrrrhy a~~igncd .mJ .h ~ll h. ~~aid a, I cndrr. In ~hr r~~M of r A~tal lalin~ ~~f ~hr Pr~Exrl~~. thc prcktcdc .hall Fx :~~~rc~~ t~• th< <umc ~ccurcd b)• Ihi~ \1~•tt~aR~. with thr c~~c.~ i( am. ~aiJ t~, R.?rr.~Hrr In ~hc cvcM rt a parti:il t:~I.inE thc Properl~'. unlcc~ li~rn,HCr anJ 1 cndcr ; ~~thrrui.r agnr in Hri~in~. thrre ~h:J! hc :ipplird t~. tFx wm~ ucurrJ M• ~h~~ !11„r1c:~~c .~~ch ~n~~?~~rti~~n ~hr ~~rc?cccdc at ~yu.~l t~• thal prc~p~~rti~m ~~hich thr am~~unt o( Ihe cum. ,r:~u~d h~ Ihi. \1i~rtg.~ec immrdi:~~~lc ~~n~•r ~hr date of takinK 1xar~ t~. thc fair m:~rl,r~ valu. ~,i ~hc Pru~xrt~ ~mmediatcly pnur ~olhr ~la~c iak~ni. ~.ith thc balanc~ ;?f thc prck~c.ls p:~id t~~ Rurn,wer. ~ If the Prope?ly i~ :~band~~~ic~l h~ B~~rrnaer. ~~r if. after ri~ticc hv 1 cndcr ~a R~irn~w~ri that 1hc condcmnor oRerc to make - • an ;~w.ird ~,r ~~tlic a ciuim (i,r dai:~uLC.. Brrr~~wrr faih t~~ re~p.~nd t~~ 1 cndr~ Hithin i(1 dac~ :dtcr thr d:~h .nch ~iHicc i~ s ma~lcd. Lrn~l.r ic :u~thori~~d to cc.llc.t and aprl~~ thr pn~rrd~ I~nJer'. ~.~,ti~,n. cilhe~ t~ re~t~~ration ur rcp:iir ~f the F'roprtic ~~r t~~ thc vim. +rcured M• Ihi. \1ort~acc. l'nlr~. 1 cn.lr: :~~d Rotm~~rr ~~thcr~?i,r acrer ~n ti.ritine. :u~c .u.h a{~~lii:~li~~s~ ~r~.rccd. I~~ ~rin:ir.il tihall i~rt c~trnd ~,r M~,tp~.nc thc dur :1.~IC ~~f th~ m,•nlhh in,t:~llnunt~ rifrrrrd t~~ in ~~.~r.~~ra~~h. ?:+nd ' hcrc~~l ~~r chaiiec th~ am~,unt ~•f .uii~ ~n~lalln:entc 111. liurrnwer \ot Relta~ed. I~~tcn~icm i~f Ihe time f~~~ {•:i~mcn~ ~+r miKlifica<i~~n ~~f :im~~r~iiati~in ~~f the ~um~ ~rcured h~' tti~~ \~.~rt_~:~er Rr:~MiJ h~~ 1 cnil~~ 1~~ am• ,::~cr~~i~r in i~titcr~.t ~~f Burrii~~rr ~hall n~~t c~Exratc t~~ rclcacc. in am• m:~nncr. i1c• liahilin ~+~`thr ~uiein.~l B~~rr~~~..rr and B~•rr~~wrr'. wrc«.~,r. in in~r:r.t Lrn~lcr ~hall n~~1 h~ r~yuirril t„ i~•mmencc ~.r,~:c~Jin~. .~s~,~;mt .nch .~~~c~~ti~~r ~~r rr(u~c ti, r~tcn~l tirn. f~•r {~avm~nt ~~r nther~~i~. m~xtify :~m~~rti~ati~~n n( thc aums ,r,n?r~1 h. thi. ~tnheage h~~ rra~~•:i ~~f :~n. dr~n:~nd m~dr M~hr ~~ri~tinal R~?rr„~vri .~rid B~~rr„w•rr'c surrc..~.r~ ~n inirrc~t. 11. Morbearance b~ Lender \ut a N':~i~er. f~~rtk.~s:+n~r h~ 1 r~~drr in r~crci.ini :~m rieh~ ~~r rcmr~h' hcrci~n~lrr. i+r „thr~wi~r :d(urd~.1 h~ ::t~~li~:iht~• I:~u. .h;~11 n~~t iti ~v:~i~e•r nt „r rrcClu~lr ifi~ c~~rciSr ~~f am ~uch richt „r r~iei~d~'. ~~Ili' nflKl~fCI11~R1 ~,f in,uran.~ ~,r th~ ra~'m~~~t ~~f I:i~r~ ~u ~~th.•r li~m.,r chnt~;~~ h~ I cndir .h:~ll n~t }x a~~.u~~r ~~f I rmlcr'~ riet~~ t„ :irrrlrratr thr malu~il~~ nf thc in~rhtrdn~,. .r_i~rrJ I,c thi. \ti~rt}~:~cr. 12. Remcdicc ('umulati~•c. ~H remr~lir. p:.»~dcd in thi. ~l~~rt~:~c~ arc di~tinct an~1 r~~mulati~•c t~, .~r~~ ~,thcr richt ~r rrme,l~• unJ~r ~h~. ~lurtz.icc ~~r alT~~rJ:~l h~ law ~~r ryuit~•. :~nJ m.~~ hr r~er~~KJ c.~nrurrrmh~. independentl~ ~~r ~u::c.tii~~~h 1;. Succecwrs and ~~tiiknc Bouod: ]oint aud tiece~al I.iahilit~: ('aptionr. "Thr «•venar,tc and agr.•rnu~ht. h~rcin ,~,n~a~nr~i ,hall hir,.t. .~nd ~hr riehs~ hcr~nnJcr .le.~il :nurr thr ~r.~r.ti~c ~nr~r.,~~r, and .~t~i~m-~~f I cn.lr~ a~id t3~,rruNCr. .uhjc~t t~• ~hc rr<ni.ium ~~f pat~¢taph 17 hLic~~f. •~II ~ut~i~.uin :uiJ airrrmcnt~ B~~rn,wer shall hr j~•int anil u~cral. ; !h~ iart~:,•~• .it~.1 ~n:utini. ~~f thc r:+~.,er:~nh. ~~f thiti ~1~~rti:~L~ :~r~• f~~r r„m•cnicnrc ~~nl~' :ind :~re m~f 1~~ Fx utcd lo ~nlrrj~rrt ~•r drfinc thc rr~•~i.i~~m hcr~~~l. 14. \Mier. F.~rcnt f~:r am• n~~ti~c rcy~iircd un~lcr at~~~lic:ihlr I:~~. t~~ hr ei~~rn in :~m,thcr m~nncr. noti~e t~ Runttwcr {.ru~idid f+~r ~n thi~ 11u~tc:,cc +h.ill Ix ci~~n h~ m:~~linc .t~~h n~~ticr ht :rrtificd mai) :~ddr~~~~d R~~rn~w~r at thr Pn~~xrtt~ ~~~1dre.. ~~r at ~cch :~Ihr; aJdr~~„ a~ Rurr.~~+cr n~a~ dr~~zn:+tr h~~ ru•ti~c I ~nJ~r a~ pm~~i~lcd hcrcin. and iht :~n~ n~~ti:r t~• 1 r~~~i~r ,h:~ll tw~ ei~~n h+ rrrhfi~d nz:~~l. tcturn i«rmt rcuu~~~~~. 1 ~n~trr ~ ad~lrc~e slaicd h.rrin <v tn •~~ch ~rthrr addr~.~ 1 cnJr~ ina~ ilitii_l'ti;,te h} nnti:~ li„rr~~~~rr ~~n~~~dr.l hrrcin. ~~n)' n~~Ii:r pr~~~~id~~l (cx in thit f ~1~~rt~:ecc ,h.~ll tw tirrmrd t~~ h.i~r h~cn ~~i<<n t~~ B„rr~~«i~ rr ( rndrt ~+hcn }~~~~n +it Ih~ m:~nnrr de.i~±n:~tcd hcrrin. 15. l~niform \Inrtkakc: Gn~•erninL' I.aN: Se~errbilih. lh~~ t~~;T~i ~~I ~m,rtLaLr _~~mhinrt uni(orm r~vcn:~nt~ f~~r n:~tiun:~) ~~.c anJ n~~n uiiit~~rm ~~~~~n.nl~ ~~ith 1i:nitr.l ~ar~ati~~m t,~ lir,~..t~,ti~~n tu i~~mtit~ilc a u~iifarnt cCCUfit~' intitrumcnt ~~~~~Cnng rr.il pr~~p.n~ "I~hi, \lurtt.~gc ~hall 1.~ iuv~~ntd h~ Ihi 1:~~~ ~~f thr juri..fi.;n~~n in uhi:h Ilir Prc~~xrt~' i~ Ic?~atcd. In thC j <<~cm ~h:~t am~ rruvni~~n ~~r ik+t~~c c~1 Ihi. ~1~~rtka.r ~~t tii~• \:~ti iun?li:t~ ~~ith :~~rlirahlc I:iw•. ~~t~'h «mtlict ~Fi:tll not :dTc~t uthr• pr.,~ni~,n. nf thi. \1~~rtc;i~c +•t Ihr \~~Ir ~+hi~h ~.u~ hr ,i~rn rtf~c~ ~+i~heut thr c~~n!lictinz rr~~i.i~~n. :uid lo thie ~f rn~l It~r l~r;~~i.i~~n~ ~~1 ~~~i ~1~~rILaLe arn1 Ihe \~itr .~n ~1rcl.~red t~• 1.~ •-«•~r,iMe. ! 16. BQRONI'~S ~~UP~. Burr~~~+cr ~h:~ll hr fn~ni.hc••! ~:~nl~~rmr~l :~•~n ~,t ~iiu~ .~nJ .rf Ihi. !~lurti:~e~ :~t the tintC ~t c~ccuti~~n c~r ;~tt~r ?r:urJ:~tiun hcrca~f. ~ 17. 7'rancfcr of thr Prnpcrf~• A~tim~pti~~n. If ;~il .~r :~•i; r:~rt ~~I thr Pr~~{krl~• ~~r an intcrc~t thrrcin i~ ~~+td ~~r tramfcrred h: H~~rn,Nrr v uh~~ut I cndrr'~ pri~~r writt~,i <<,n.~nt. r~.l~iding th~ irr.~ti„n .,f :i li~r. c~r rnc~~mhranci ~uhonl~natc t~~ thi, ~1„rt~.~,r. 1h? thr creati:~n ~~f p:ir:h:~.c m~mr~ .~~~urit~ intrrr.t f~,r h~~,~,rh„Id aprli:~nrcc. (r1 tran~frr h~• devise. dc:i~nt ~*r h~ ~~{~rr.~tu•n .,f L~~~ i:p~~n ~hr ~ir:~th ,~t i~~~nt trnant ~~r IJ~ thr crai~~ ~~f :un (rauh~~ld imcrest ~~I thrrt ~~:irti ~~r I~ct E n~~i ~'~~nt:~inin~ :~n .~~,ti~~n ti~ rnrrh:~.~. 1 rn.lrr tn.~t. .~t 1 rnclr~~~ ~,~~ti.,n. ~1~.1:~r~ :ill 11~~ ~um~ tiC~ur~d h~' llii~ ~1t~rig:igC t~~ F?C ~ :n~mrcii:~trh• duc and payahk. 1 rndcr .ha'I h:r.~ ,~:u~.c.l ~u.h ~~pti~~n r., :~c_~ler.~t~ iL rrii~r t~• Ihr ~:+Ic ~,r trancfcr. t.~nder ~ .~n.l thc Exr~~~n u~ ~~h~~m tfir Pr~•~+rrt: i, t„ hr ,~~I.! ~~r tr.in~trrrcd rra:i~ .iirrrmrnt m~~ri~in~ th:d thr crcJit c~f wrh pcrsan ~ +:~ti~farlrn~ t~~ I rn~l~r :md Ihat thr interr.t ~•a~:+t•lr ~,n thr ~!im, ,r~nr~d he thi. ~t~•rt~,:~ee ~h:~ll be at ci~rh rate a~ I.ender ~ ~h:~lf rcyu~~t. If 1 rnJcr h:n t~•ai~c:i thc npti~~n t,~ :ii«Icrnt~ prc~~•iilyd in thi~ para~raph 1?. anJ if B~~rmwcr'ti ~uc~cssor in ~ mtrrc.t ha~ c~rc~rtcd a~~•nttrn ~ssum~tinri :~crrrmcnt :~ccc, trd in ~?ritin~ h~• 1 ~n~icr, LrnJcr shall rclc:~~c Burr~v?•cr fmm all ~ ~,bligah~~m un:t~r thiti ~1~~ttg:i~c and thc \~Hr. ~ If I cnJer c~crri.rti ~nch ~+p~u~n t~, :?c~rlcr.,rr. I rnJrr ,h.~ll m:~~l B~~rro~?rr rn~tirc cif arrclcrati~~n in arrc.rdanrc with paragraph !4 hrrrc~f. tinch n~~Uc~ •hall ~?r~~v~dr :i ~xrirJ ,+I n~~t Ic.. than Zfl da)~ fr~~m thc datc thr noticc i~ mailcd within ~ Hhich H~~rruwer ma}~ p.~~' the ~um. derL~rr.t ~tur li B~~n;~t~er ~.i+f~ t~~ p:~c .uch ~~im, pri~~r t~• Ihe ~xpir:~ti„n nf tiu~h peri~~d. ~ ( rn~lcr ma~. ui~h~~ut fur~hcr n~•ucc ~~r ~1rm:~nd ~m Ii~~rn+•.~rr. ~r.~~~l~r am rrmedics ~rm~ttc:l h}~ paragraph I~c hcreof. ~ Non-(_'y~rr~te~~ Cuvf~~.{~TS. Be~rreiwcr and Lcndcr furtlx~r a~vcnant and agrcc as follows: : ~ ~ 18. Accelerotbn; Remedies. Fxcept ac pro~ ided in paraRraph 17 hereof. upon Borrower's breach of any covenaot or : ~ ap,reement of Borrow•er in this ~1ortRa~;e. includinR Ihe co~enanfs Io pay w•hen due ~ny sumc secured by thk ~torlRaRe. i.ender ~ c prio~ to accelerallon sball mail nolice to Borrower a~ provided in para~raph 14 hereof specifyinR: (1) the brcach; (2) the action ` - rcqufred to cure such breach; ~3? a date, not less than 30 da}s from the date the notice is mailed to Borrower, by which snch ~ breach must be cured; and /4) th~t failure lo cure tiurh brearh on or Mefore Ihe d~te specified in the notke may result in fi accelerafion o[ the sums secured bv thic ~1ort~a~e, torcclocure b} judici~l proceedin~ and sak of fhe Pmpetiy. 'Ibe notiee ~ shall turther inform Borrow•er of Ihe riRht lo reinctate ~fter acceleratiun aod the right fn assert in the foreclosurt pmeeedinR ~ the non-existence ot a default or am other defense of AorroNer tu acceleralion and foreclosure. If the breach is not cured on ~ or bcfore Ihe dsle specified in ihe notice, I.ender ~I t.cnder's option ma} declare all of the sums secured by ihis MortRagt to 6e ~ immediatel~~ due and pa}~able withoul turther demand and ma}~ foreclost Ihis ~tortRa~;e by judicial proceedinR. Lender shall "s ~ be entiNed to collect in such proceedinR all expenses of foreclocure. includinR, bul not limited to. reasonaMt sflorney's fees. = ~ and cosks of documentary e~idence. abstracts and litk rcports. ~ ~ 19. Bormwer's Ri~ht to Reinst~te. N~tw~ith~tanding I.endrr'. acceleration of the ~ums cecured by ~h~s Mortgage. ~ f3orrower shall have Ihe right to have am proceeding~ rxK~m hy Lender to enforce this Mortgage discontinued at any time fi , ~ ~ ~o~c296 ~ 289 ~ ~ ~ : _ ~.r r _ ~ ~Y ~ ~ _ . _ _ ~