HomeMy WebLinkAbout0682 7. If aey of tM su~s o( oon~y b~r~i~ ffl~fl~ 10 ~ ~a P~o.~ty and futly poid .iMiw 1Air~y lJ0) daya w~a~ oh~~ t6~ ww~ Nwroly b«oM dw
and poyobb. e~ if ~ocA ond •r~ry 1h~ ~tipubtae~ oq~~eMnh, csnditioes, ond co.~~onu el wid Pro~iswry noN owd ~ii ~e~lpoo~. or •iM~r, or~ ~et dvlr
p~rio~w~d~ cowpli~d WiM oed ob+ded by. tht opy~poN +~w w~wtion~d iw wid pro~i~sory eoN ~oll Mcow~ dw ond poyobl~ (o?tAwith w M~nofh~ ot
~h~ opt~w ol d~~ Mort9opN, os t~.llp oad cw~pMNhr w il w~d op9rpoN sv~ ef nwn~y .os orip~nallp stiprlol~d lo b~ poid on wch dor. oeytbinq in
soid prc.wis~ory noh u~ Mr~iw b tM cow?rory woHrilAitawdi~y.
To d~liv~~ fo ao~d Mo~~opN. uw w b~lwe Merd~ 15l1~ oi wc~ ywr, bi ret~ipl~ ~~id~ncino tM porw~nl of oll bwfullp i~.powd ro:•. fo. ~
p~~ct~dinp cobnda~ yeor. to d~liw~ W wid Mo~N. _rK~ipls twd~ocin0 fM poyw~M oi ol) (wns lor public iwp~owaNnN witMie niMly doys ofNr
~h~ waN ~Aotl b«oo. dw o~d porobM owd ro poy w dncAo~p. Mid~ia eiM1y (901 doy~ ofNr dw do», ony ond oM 9owrn~e~ol bvi~~ that way M
aad~ on ti~~ wo~lpop~d p~op~~ty, a+ tAis r+orpoy~ a aob, or iw wr otA~~ ~rar nwllino frow 11N Mortqop~ ied.bade.u ucvr.d br Ma uwrtyqpt ond
if this conditbe b~ ew co~pJi~d .i~w awd ptrfor~ed, wid wo~tYoON ~o~r P~ sucA w~ w w~a whkh ~Aob b~cow~ poA ot tM d~bt wcv~~d bp thn
worlpoq~. ond sholl bea~ int~reu o1 tM w~ roN as tA~ e+orqoy~ ~wN. Popabb wwi-ow~uolly uefil pod o~ toid MalyopM swr tbcf thol soid ~ort-
~oy~ d~?~ th~revpon b~cane dw o~d poYubb foAhwitA.
9. N is furth~~ cownonted and o0~e~d bp w~d Pv~tN+ Mol in ~M ~v~e1 0! o wi1 b~iw0 instiNhd w foncbs~ Mls wo~lpo~. 1M Mo~fyopH +hoU
bs enfiN~d b opp:y o1 o~r iuwe p+ndinp such fw~cle~r~ suit b tM tOY11 AOY1119 ~YIItdIC11011 1Aft~0I FOI tM OPP0111f~~M Of O hCf1Y1/ O~ OII OIId 4/1pYIY1
th~ aa.pop~d prope~ty. ond o( olt ~M ~~nlr„ iwco~+. p~o6~+. nw~+ and nwnws 1Mnof, f?ow wAoMwr~r wurc~ d~riwd: ued N~~nupo~ if „ h~nby
eapr~uty cewnont~d ond o9rre~i ~hW IM carA alwN forMwit6 oppoief o~~c~iwr oF wid ~wtYoY~d Wop~m, oll ond uepulor, ond o~ wci~ nnri. in~
«.MS, pro(ifs, iuws oed r~wnw tMnof. how wAohoewr wura d~?~wd. with 11~ vwol poatn owd d~ti~s of rec~ir~n is tik~ ca~ss awd wch op-
pointwee? shoq be mod~ bp wch ca+rt w o wotNr ei stricf ~ipA~ M~M Mlwlpop~a. ib wcctswrs, b9o1 rspr~seetotiws x ossiOns, ond witlw~t nhn~
b 1M od~quory w inod~auacp o( IIw volw of th~ MoF~~ip 1Knby ~ort~ap~d. o~ b tM wlv~ncy or inwlwnry o1 tM Mo~~oopsr, ond thot wch nM.
profil~. incow, ia~ti ond re~renws shoN b~ oppli~d bp wcA nc~iv~~ b tM payw~at oF 1M wortpoye indsbt~de~ss, coib ond cAwp~s, aeaordisp 10
Ih~ ord~~ of wcA cor~1.
10. Upon onr dtfouU ~nd~r tke wwqop~ noN w N~ ~oAYap~, ot fl~s option oi 1M Iwldtr of tM aaApop~ noh M» uePaid ba~aua d th~ E
nbrqoy~ eoh ond ony odvonc~s ,~od~ und~~ it, or IM worlyop~. to~tM~ with in1~?~s?. Jwll b~caw~ dve and popobb, tiw b~in~ of th~ weau of
thn controef. My ~roiv~r of mr poYwn~ und~? tlw noN o~ ~o~tpa~~ ot snr itM sboll not o1 aer otl~ tiw~. b~ bkM b b~ o woiw/ of tM hnia oi
th~ noN w eorf~op~. ond tl» occ~plona of poYw~nb upoa ~oid ind~bNda~ss shoN ~ot constiluh o Mr~ivr~ ot N~~ optiow oF th~ hoW~r of tM rwb b
oa~4raN ~~Y~et o/ M~ •Min vnpoid bobaa~ YII~iN NN IIOIdf1 ~aP~~+~Y 9ronh sucA rwio~r iw writino. +
rrithort ~p~opN's priw wrilNn cowMnf lYClvd- ;
11. If oll or anr port of tM P~~~h a u~ iwh~st tMniu is wld o? twnshn~d by aa+~9aY~ ;
inp (a) 1l~~ cr~otion of o li~e o~ enca~eb~o~ wbordiwot~ b Mis _wa~9op~, lb) o tronshr br dwiw. dNC~sl, or bp op~?olion of (ow upow th~ deofh of !
o joinf Itnaef,. or, (c) tM 9~~nf of n~ Mos~bold ~nhresl of ~hrN (31 y~on w Mss aot oonroinin0 on opl+on b pv~c6os~, o? ld) IM enof~on of o p~r- ~
chau ~wonhr s~cvrity inl~r~st for hous~Mold opplianus, worqaYN ~wp a~ ~o~~po~N~' °P~1O1, d~cb~~ oll w~a secund by tha wor~pop~ b b~ iM~diohlp
dw ond porobb. NbrtpopM sAop Aaw vro'md wcA optios b oa~leroh onlp if, prar to N~e soM a tramhr, warpop» osd M~ p~non b wlaw Me }
Pmp~r~r a M b~ wld w honsferi~d r~od~ oqneawt in writinq Mat w~ p~non a o qvaGfi~d bwrrn~ to 1M wtisfoclion o~ ino?popN ~:tra~d
~
in ib wb discntion and 1Aot owr ~odituatioes oi Nna of th~ woil0op~ loon ot are nqvind by ~~pop~~ ns sok ond absobM disuNioe wliKh
~nodifications inq includ~ wid+out IN~irotion tM raN of inNnst papobb oe 1M wws s~cvnd by MN +orqap~ to o~oN as nqwded bp ~utYapN
haw bNn oyre~d upoe. -
If worqoyN exercixs ~uch option M orcMbwt~, swfyopt~ slwll woil wort9oqw notic~ of occakrotan by d~positiep soid INNr in M~ Uniled
StaMs Mail. Postop~ P~tPo"~, to tl~e followinp oddr~: ~ fM ww d~-
Suc6 notic~ ~oll proride o p~r'ad of no~ I~st Mow MiAp (30) dqs (ra~ th• doN tIM wotiu a nwiled. ~rill+in wAicA aart9oqor eeoY PQf~
clared dw. If iaort~w fails b pay wch w~s Priu b/M expirolion o~ such period. Me loon s~wll b~ in de(oub ond ~otrpopM ~oY, without frrtMr
nwic~ x de~wnd on aort~o~, invok~ owy rea»dies os prarided tor 6enie ~pon tM ~wM of de(auh.
A~r ~ro'ner ol ony porsen~ ~nder 1h~ wote w wwfycps at o~ryr YxM sholl not, ot oMr WF~er tiaw, b~ hk~a to b~ a woiw~ of t6~ h~~s of tM ~
noM o? woApop~, ond 1M oaeptonc~ of por*~MS ~Pon said ind~bt~dn~ss shall not constituN a waiwr of tA~ option of 1he mortpop~e b occ~krol~ t
tM ind~bt~dn~ss as pw+ided for Mrsi~. :
11 1! a ca+ver+nce should b~ n~de bY ~Ae nw~t~go. o~ ~ pewrses lwe:w desaibed, or ~e+Y P+M M~ered• +nd ~I~a?1d tlr pnMS~ a an~r subsa
q~ent yr~n~~e wdsr s+~d co.weYme. wAo Ms auwned ~he ino~k~ye ~nd 'wdeb~sdn~ss. be in defauk bY vKtue oi • breacA d any of tAe povision~
ol Mis ww.g~qe a d~e p~ovcs:ons of ary auump~an +9ree~e^~ w:d+ the martgges. ~ w not ~aid auun~ption ~9?e~e^~e'N ewd'i6es IM t~rms d
the mortgage and ~ndeb~ednes+. then ~nd therelore. the n~wt~ga he~tbY conuets ~o ~awwpuoe aed ~ht prov:~iom d~Y ~su^P~q^ +~9~~^~ ;
~he nartg~qee. ~nd ~o any nad~fKaf:a~s ol the ~e.wK a wov~siom o/ d+e ~wor~g+y~ and indeblsdneu occasia~ed bf~ s+id +ssumP~io^ ~9r~e^K^~ ?
lu~the~ herebt? 9~~^t ~he ~na~y~9ee NK rgM b q~~ ea~e+~sions o1 ~iiwe b s~id y~antae witlww nWification of. witha+l 1M con~eM of, aed wi~hout ~fhe~' ~
in9 IAt ~Nbilitr O~ IA! p~¢~MI R~O/1fJi'O~. O~ M~y f1~!!~M f
1~. 1Mrce «Mr +w~a+~~ d mone> >o be P~d bfl ~^~~9+9a a~"'0~~~ wder ~he ~nn haeof J~aN b~ a~ defavh, or should Nr mwtq+9a
d~f~ul~ in any ol the o~her ~crnis. Vrows:oM o~ tAis wwrg~9e. tiw~ in ~hat us~ the n~aty~qee slyll Mw tM rgM, without no~ice b tM
w~orq~gor, w cdlect ~e~d .ice:ve t~om say ren+nt a les~ee o~ s~~d.^a.~9+9~ penr~es 1A~ rems. issuei ~nd pofin of th~ rsal estaa hK~bll ~~9~ ~
~nd Me +~P~~^~ ~I+ereo.~. and to yive pope~ rece~pe~ and ~cvuina~ces Hn.eia. ~frer p~ynq aq conrwiu~om of +nY ?eM+l aqent colketing tl~t s~, t
and ~ny .easonab4 anorneyi fees ud ahe. necess+ry esP~+ incu.red in cdlM"+~9 s+~• t° +PP~Y die paeeds d sud~ collsction upon +rw 3
neas. obf:q~t~on w li~b6ty, of ~I~t w~a~q+gw Iwewdn. ?he riqM q~med the nwrtq~pe+ und~r ehis Pw+g+P~ sMN be in adfiifion W, ~nd sh~ll rwf tunit ~
' p~est~ic/, My Wher riyht or ri9Ats y~aeled tht mO~~s! in fhis ~na~9a9e.
j a dnrwi. J~N be co~denr+ed and uken /w public vM und~r the pow~? of aaiwnt
1hN ifl IfM fvMt 11~f ~lw~iff! ~1N~ ~ Mr t~) ~~ii~ 10 I~M
( do~~n. ~!w Morqpe~ ~t1 ha~rt NK rqAt a dem+nd ~har aU ~w~pes ~wadsd fa tl+e t~tinp of w d~mpes a~d P~ a tM pw~bN 1A~eron.
~ MoA~p~e vp b ~M Mw~rM ~Iwe w~p+~d on tlps ewrqq~ ~nd N tM oprioe o1 eM Magge~ ~*+Y ~+DP~~ ~P~ ~ WY~
~ 13. iht ewo~ppor b+ndf himseH eot b eeKt w p~nei1 to b~ Net~ed ~ny new buildinp~ on 1M pra~iNS Mrein ewtlp~p~d o/ Io add b w pMn~it
~ b b~ ~dd~d W~ny of Nw eais~r~q impraremenb 1her~on or nyk~ anY dw~Yes a~Uer~tiom in ~a~d i~nWwe~n rrhich n+akri~tl~r dun~ the srn~ o? tM
~ w~ ~i»ewi, w~+hout ihe wr~~fa+ conwnt oi ~i~e Morqpe~. ~+d in ~M event ol a~y viob~~on o~ ~mmW a v~olak this ~tip~rt~tion Nws nwrqg~ and dl
w~ Narnd Mr~bfr ~+•~t rnmse~auy bacawe dw «~d cdbabN M ~M op+ion of N~e MaqpN. ,
F
1~. h a ~p~c~fKdly ~preed +1yt Y~ w oi dw ~u~ncs of dw oo~aat ~nd ~hat .no wa+~r~r of any oblip+tion iw~~~d~r a of th~ eblipnion s~aw~d ;
~ h~rb~r ~MII N+~Y t:ne b~ Mld ro b~ a w~iva of 1M fuer Mrrof M of ~Ae irfru~ searnd h~nbY• -
~ 17. N fo.ecbw~~ proceed~ of ~+y secad ~wq+p~ w~eoad mn e deed a~nY i~^~ lian of ~ny ki~d dwuld bi institv»d, ~Iw Mortp+pM n~rY. `
its optio~. ~durehr w d~er~~i»r d~clw d~'s nwrqg~ ~nd dr wdeb~~d ~+ess ~ecwed hereby dw ~nd P+y+bk fortAwi~h. ~nd ma~r st i~s ap~ion prooa~d ~
,
a loncbw dw. narq.p~. -
1~- ie dw ~iMnt o1 N» w~d~b+~dneM of dr Morqpw b dr Morq+~ee dncrbed Aerein a fscwed I+er~lp t~ Mo~q~ ~~+bY ~'~e~d a
dw Iwn or G~m ~nd w ihe r:phn of N~e owren and hofd~n ~Mrwf of e~ch and everlr mo+*9+9~ lin a odrr incvwibrano~ on tM bnd de~a~d Mrein
whid~ i~ p~id ~nd/a Nthf:ed in w1wM or in p~rt out oi Mw p~oa~ds o~ N~e ban desa~bed Aaein w scaind haeby. and tM eeip~ctiw Cwa of wid
nwrppes. li~ a od+e• ~ncumb.~nces ~i»II b~ ~wd tM s~nt Md tad~ d N~en~ hereby is p.e~erved and ~1 pps b and be Mld by the Maqa~t herein
a warny /w M+e Ndebsedness b ~he Mwqpe~ Mnin d~wb~d a Mnbr wcwed. a d+e sanr ~.?en dwt it wovld haw b~en pn~wd ~nd waeld
Mw bNn p~swd b and bee++ l,dd by dw Mo.q~~ h~d 'a bNn drM ~nd reyv~r ps~9^~d• n«+stand, se? ovs. and deliwerd una th~ MaqpN br ,
MpaM~ d~~d of ~u~prr~ent ratw~thsund~rg ihe btt d~M tM f~ wll a~f ~t w~~,~ oi the rsoordrg~~ d~ ~ d tb~ p~rti~+ Mnb ~
tiyt tM .~r will be s~~h}ied ~nd c~nctlkd of naoed b1? 1M holdns ~Iwr~o
~ 1 • h~s, rcao~ab~Y incurnd w p~id M anf? tf~ bY tl~ Morpq~~• .
1!. To pay dl yd s~.+9ular ~iie cosn, d~a?qe~ ~nd ~xPwnes. ~+c~ud+~9 +~Y~r
bK~vw oi 1he /«lure o1 rhe Mwrya9or ro perrcrrn, cow~iy w~th ~nd ab~dt by e~h and wery /M atipubtions, aynaw~e^b, conditions, and ooNnMb of uid
~ V?onrwwY-nw~ ~nd ehis d~ed, a e+dw. ~nd ~very w~d~ P+Yw~ee~e+ sh+H bt~. inlK~st haw dNe ~t th~ s~ raN n th~ n~orty~9e eo1~. ~
` IN WITNfSS YVMEREOf. 1M wid Mor~O+qo~ Iwn~O Mla Ai~ ha~d and .sd this IM dM ~ Y~+~ fkq aboo~ wrflMti
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~ LAUREL BUILDEItS, ,:INC, . ~
~ $1qn~d. ~o1.d, and d~lni.r.d _ .
~ in tM pe~s~ne"v d: - _ -
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~ B ' ~
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,~~c~.,..~~5~.~..., ~,.k~~~ Attest: . . ..........cs~~
~ IViartha ~See1 ; cr ry
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. . Boox302 Pac~ 682.. . _ . _ _
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