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HomeMy WebLinkAbout0300 ~ ~ t i, +r 1 rrniri'~ ~~nti~n as:r~~ntcnt ~~r ap~~h..~hlr 1.~ti~. li~~rru~~~i ~haH pa) Ih~ am~~iuit . i ali nt~,rtg.i,~r in•ur.~n~r {~rrmium. in ih~ tn.~nnrr ~~r,~~i~IrJ ~n~~l~•r ~~a~.~Ltaph i~rr~~~f. :~n~ :u:i.~u+U~ ~li.hur~~•il h~ I rn~l~r ~ut~~l.~n~ 1~~ Ihic r.ir.~t~~;~~~h 7. ~~ith ~nt~rr.t Ih~ir~~n. ~h:~ll hr~~an~ :id~liU~~nal i1l~irh!~•.inr,. ~~1 ~~~~If~~~~rf ~t~Ufia~ h\ 1~11? ~~(~flldLa' ~~tl~~~~ {~i~tf~~t~if :~Il.~ ~ ~'n.li'f alf~~' li~ i~l~li'r [iflll? ~~I ~~:1\~D1C111. ~IIC~I an~,~unh .h.Jl hr {~:~~:?hlr u~~~~n m~ti.•r fr,,m I ~n~1rr 1~, N~~rn~~~r~ rr~{ur•~i~iL ~~.~~mrnt thrir~~t_ .~nJ .h.ill I~r.ir intrrc.~ fn~m Ihr ~la~c ~~f ~Ii.hunrmrnl :~t thr r.~te pav.~hl~ (rum timr ti~ Umc ~+n oul~tandine ri ~n: i~,al undc~ thr \:,t~ unl~~. ~~a>•m~m ~f intrrr.t :rt ~u~h r:itr ~~uu1~1 hr r~~Mr~r~~ t~.:~p~li~~blc L•~~~. in ~?hi:h <<rnt .urh :~m,~unt..hall hcar intcr~.t :~t Ihr hiehc~t rate ~xrmis~iMr unilrr .~E~~~l~~ahlr 1:?~?. ?~~~thing containcd in thi~ ~aracr:~~h 7.h:ill rryuir~ I rndc~ t~~ incur :un~ r~prn,c ~•r takc .~nv a:tiun hrriundcr. • ' K. In~pccfion. 1 cn~lir ma~ m.~1,i ~.r r.iu.c t~~ F?L madr rr:~.~.naMr rmrir. u~.un :ind in.lx~ti~.n. ~~i Ihr Pn•~~•n~•. ~ru~~i~fc.i that I cndcr ~hall ~i~~ B.~rro~~cr m~t~c~ rri~~r !u :+m .u~fi impc~ti~~n .~cif~•inc rra~~~nahlc c;w.~ th~rrl~~r rclatr~t 1„ ( endcr'c ~mrr.~~ i» thc Pru~rtv. . ^ 9. ('undcmn•rdun. Thr ~•r,,:rcdc ~.f a~e:~rd c~r rla~n3 fia Jamac~;. ~lirert ar r.•n.r.~~i~ntial. in :~~:mr.li~,n ~~ith am• :~,nJcmnati,,n .~r ~~thc~ takinc uf ~h~ NmExrt}'. ~,r part Ihcrr~~f. ~x fi,r cunvcvan.c in liru ~~i crndrmn:~tiun. :~r~• hrr~M• a«itncd .~n~l .h:?II tv paid t~~ 1 ~ndcr. ln Ihe t~~M a Ir1:~l ta{,inc ~~f Ih~ Pro~rt~. thr pn~~~r~k ~h:~ll Ik :~p~~lirJ 1~~ ~hi ~um. ~i:ur~d i~~ thi~ \1.~rtc:ic~. ~~ith th~ ~~ir.~. if :im•. ~~:iiil to B~,n.~~~~r. In Ih~ c~'~nt ~~I a(~arli:+l ta{.in~ ~~f thr Pmpcn~. unk.i Itrrr~~~~~r :~nd T cnd.•r ~~ih~r~~i.r :~~r~r in ~~ri~m~- Ihrn ,h:~ll hc aprli~:i tc. th~ .um~ ~r.ur~J h~ th~. ~t~~rl~aic .t~~h ~•rur~~rtirn rt th~ F~n~ecd~ a~ i~ ryual t~• thal pn~p.,rtirn ~~hi~h thr am~~unl ~.f ~hr tium. ~rrurrd h~ thi. \l~~rti:i~_c immr~li:i~rl~ ~~n~,r ih~ Jate of takin~ Ixan to thc fair markc~ valur i•f thr Pr.,F•xrt~• immc~h:i~rl~• pn~~r t~~ thr ~latc ~•f ta{,in~. ~~ith thr h:~lani~ ~~f thr pnk~c.lc paid t~, Borm~~•cr. If thc P:~~pcr~~• ic :~h:utdnnc~l M• B~.rr~~~~~rr. ~~r if. aflrr n~~~irr h~ t rndcr t~~ B,~rr~~~rcr ~h~t ~hr i.~ndcmn~~r i~ffcrti l~~ m:?ke a~~ :~H:~rd ~~r .~ttle :i rlaim fc~r danri~~.. Bc~rr~~~~•rr L~il. t~~ rr.~,nJ t~• 1 rifd~r ~~ithi~i z(~ ~1:i~. :~itrr thr d:~tr .~i~h m,ticr ic m.~~lcd. Lrndcr i. authori7rd t~~ r~•llrct and ap~+l~• thr pntir~dti. :it 1 rn~cr'. ~.rtii~n~ rithrr ti. re.t~~rati~,n ~ir r~~:iir .~f thc Yr~~~n~ rr t~• thc ,um. .rrun.l h~ ~hi, 11~.rt~sae~. l'nlr:~ 1 ~n~lcr and B.~rr~,~~rr ~.thrnci.r agrcr in ~~ri~in an~ ,~i~h :y~rlii.~ti~~n ~~f ~n~;~cd: t„ ~rin:i~:il .h:ill n~~t c~tcnd .~r pr.t~x~n~ th~ duc ~i.~tc ~~1 th~ monthh inst:~llmcnt. rcfrrr.J 1~~ in ~~;~r:ikr:~~~h. 1:~nd ' h~rr~~i ~~r ~h:u~~r ~F:r am~~unt ~,f w~h m.lallmcnt. - - 10. Borrowcr Not Rclcaced. P~trn~i~n ~~f thc timr f~•r ~•:i~mcnt ~.r m~~difirati~~n i.( ;~m ~rtiiati~.n ~~f thc .nm. ~Lrurrd h~ thi~ ~1~,rtia~s~ erantid h~~ 1 rnd~r t~~ am• ~uccr~~ur in intrr~~t ~~f Rc~rn,~~rr ,h.~ll n~:~ ~.~cr.~tr t~~ rckac~. in :~m' tn:innrr. thr liahilit~ r! thr ~~ri_inal R~~rm~~~r :~!~d Bvrn»~cr'. ~uc~r..~~r. in intrrc~l. I-rnclcr ~hall n~~~ hc rry~iirr.i t~~ c.~mmenrc ~~r~~«~IinL~ alaintit .~~ch w~~r.,~~r ~~r rcfu~e tu c~trn.l timr fur E~a~mriit ur i~?hcn~i.r nu~Jih~ ann~rtiiati~~n ~~f tlir ~iim~ .~:u~r.i h~ thi. ~1~~rteak~ h~' rc:?~rn .~m~ d~ntan~t m.i~lr hi Itti~ ~~ri~_~n:~l R~~rrr~~rr .~nd R~,•r~~~~~r'. ~n~~r,.~~r. in ir~ICre~t - 11. Morbcarancc by l.cndcr \ot a N"ai~cr. -~i~~ frrlkar:iit~r h~ 1 rred~r in r~rr.i~in_ riLht ~~r rrmr.l~ hr;~iin~irr. e,r . „thrrw~i,~ .itTvrJc.l h~ :ippliraMr la~~~. ~h:,ll n~•t t~ a~v:~i~~r rf ur prr.ludr Ihe r~c,-~i~r :u~~ .n:h ri!~ht ~~r rrmrd~:. ~Ihr E~ru:urrmcnt ~~f intiur:~n~< <,r Ihr pa~•n~~m ~~t t.~~c. ~,r ~~th~r li~m .,r ~har_~. h~ I ~ndrr .hall n~~t tk• .,.:~c,~r ,~I I rn.i~r'. ~i~,ht t~• a«~l~r:~tr thr maturitt~ ~~f Ih~ indthlydnr.~ .r_urrd h~ thi. \1i~nz:~~~. 12. Rcmcdirc ('~nnulaticc. All rcmcJic. 4,r~~~i~1rd ~n thi. ~t~~rtti:~~r :ir~ di~tin:t an~l ~umulatic.• 1~~ .~n~ ~~thr; ri~~ht ~~r rcmc~h~ un~~r th~. \1rrt,'.~Lr ~~r a1T~~rd«! h~~ la~< <~r ryuil~. .~nJ ma~ Fn r~rrciuJ :~~ncurr~r.~h. in.ir~1r:idrn~i~ .~i::r•.icrl•. 13. Succec~on and :1~tiRnc Boond: Joinl and Sc~cral I.iabilih: ('apliou~. "li~c ,~~~~n:~nt. :~n~l .~~_r.c•mrni. hrrci~z ~~~n~:unr.l .h:ill hinci. and thr ri~_ht. hrr~un~cr ~hall inurr t~~. th~ rc~E~~cU~r ~u~cc,.~a, :in~1 a~v~m .~f 1~n~i~r .ini1 Rrrru~~cr. .uht~ct t~~ ~hr ~x~~~i.i~~m ~,f ~•aragraph 1? her~~~f. :\I! ~u~~nanl. :~n.1 :~crcrmrnt~ ~~f li~~rr~~~~~r ,h.~ll hc i~,ii~t .~r.~i .r~cr:+l ('hr ~:~E~t~~ai. :in~l h~:uii»~~. i~f thc (~:~r,izr:~~+h: c~f Ihi~ ~lurtz:~~i• ~rt f~~r ~~~nccni~n:~• ~~nl~ .~nt! :~r~ nri t~~ hi• ii~i~1 T~~ ~ mlrrE~r~l ~~r drfn~ thr rr~.~i.i~,n~ hrr<<~f. . 1J. \oticc. E~:~nt l~,r an~• rn~tice r~yuirr~l itn~t~r :i~~~~li~:ihl~ L~~.~ t,~ ht ~•~~.;n n;~n~•tt:rr manncr. ~:~1 .~n~• n~~tic~ t~ B~~rn~~~rr j~r.~~i.lyd t~~r ,n thi. ~I~,rt~:~cr chall tk s;i~~n h~ n:ailine .u;h ~i,~t,r~ i.~ ~,•r,ifi~~l ni:~ii .~.i~lrr.,r~l r,~ B~~rn~~«r :~t i~li E'~~~~~~fl~ ~~~~~~fC~~ :~I ~UCfI ~~thrr :iddrr.. :t~ {;~~f~~~~~i~ I~l:~~ ~c~i'~i_n.i!c ~t,~1i;i ~ ~n~}i•r ~~r~~~[~1i~i hrr~in. an~i ih+ :~n~ nuli~i• fi~ I rn~irr ~hall h~ _~nin h~ ~trUll~~l nl:~il. rtiutn r~C~•iE~! r~•y~fe~~i.l. tr I ~n,1c•~. ;:1.i:i.~ ;~:,s~•~i hrr~in ~~r t~~ ~uih ~~thir aiWrr~. 1 rn~e~ m:i~ dr~ienatr h~ n~~ti:r t~+ B,~rr~~~~rr :~~~~~iJr,l hrrc~n ~n~ rn~tice ~~r~•~~~1r.1 f,~r ~n thi~ ~ \i~~rt_.~_~~ tihall tk ~le~n~~d ti~ h.~~r hr~n ei~~n tu B~~rr.~~~rr I r~i~lrr ~•i~.~n i« tf:r m:uinrr ~~r.ier.~tr~t '~.:~iri. ~ 15. (~nifurm ~torl~aL'e: Go~ernin~ I.a~,: tir~rr,~bilih. Ih~. I,•rrn ,n~,rt~_a~_r _:~mhin~c nnif~.rm ~n.rn.utt. frr i~.,ti,,n:~l ~ u.r :ln~l it~~n-u,iif~~rn~ :~~•.cna~it. •..i?h litnite.t ~?~n:~h~~n, h~ i~i;i..i;.r~~r t.~ i~=n~Ut~it~ a uni~~~rm ~~~~iritc ic~.tn~nunt :~,~rrinc ~ r~el pr~,~+rrt~ 1hi, \turt~.i~r ~h:~ll h. e~~;yrne.l h~ ~hr L~~~ ~~i thr ,~ri.,L:U~m ~n ~~Eiiih thr Pn•rcrl: i, h,~:st~~l )n th~ r~'rnt !h.~I :~m Pr.~~n~un ~~r iLw•< <~t Ihi. ~l~,rt_a~•r ~~r thr \,~tr :~+;:tL.t~ •.~ith .t~~ li:.~hl~ I:r.~. ~n:h ~~~~~?i.t .n:~lf n,~t afTecl ~ „th~r ~,,,,",i~~rl. t!~~. ~1~~r~~.~~~r rr thr \~~t~• ~~?,r:!i :.in I~i _:•.ci~ :It~•:t ~~i~h~•~R th~ ~~~n?ti~t~n~• (+n~~i~iu,i. an~l t~~ tiiiti j !h~ ~~~~»~.I~~t~~ i~S !}1C \~~~r1~5~•_. :tnil ihC \.~I~' .~CC ~'~:L~rC11 . .~•\~C:~h1~• ~ 16. Borm~.cr'.l'up~. 13i~?n~•.~r~ •h.ill F~ liz~ni.h~.l ~,~n::~rni,•i# :~•E,•. ~~t Ihr \i~ti .in~l Ihi. ~t~~rt_:~~•~ .~t th~ timC ; ~.~1 c~riutii~n ~~r .~itrr ri:~~r.i.ili~~n ti~r~~~f. 'a, 17. 7~r•rn+(cr uf the 1'ropert~:'~..umption. If :~li .~r nn~ ~hc Pn,~~rn ~~r .~n intrri~t thrrrin i. „~I~l ~~r tran.lerrc~l i B~~~n~~~cr u~Ih~~ut I ~ii.Irt . Ein,,r ~ti~tt~:~ .un~~~it. r~.iu.lir.• thr ~rc:iti~~~t ~~f .i 14~n ~~t cn:t~tnhr.~n:r ~uh~~r.lsri.~tr t~~ ~ *hi• ~1~~rh;.~~r_ ti~i ~hr ~r~alu~n ~~:tr:!~:~,~• m:~tir~. .r~urir, n~~rr,t t~~r h~~n~~h~•!J :~t~~~li:~n.-~~. !c~ sr,~n•!rr M ~h~i~e. ; ~ic~~rn1 .~r h~ ,,E,i~:iti~~n i~E~„n thi- ,ir.~;F , r,~,~ii Iri~.u~~ .,r <<!~ th~ ~r:~n1 :in~ I~.~.~h~~1~1 inlire,l thrr. ci:~i. ~.r 1~•. ~ n~~t :~~nt,~ir:in~ .~n i~~li.~it tr t~tir.h:i<~. I~ii~irr in.e~. .~t I in~1r; ~~t~~~~:. ~Ir:l.a~r .~I! thr ~um. ~~:nriil h~ ~hi~ \t.~rt~~:~~_~ 1~~ hr ~ ,mtnr.fiatri~ dur :~nd ~:i~ahlr 1 rncl,•r .I:.~I! h:r.~ •...~:.<<i .n.+~ ,~E.~;~,n .~.:clrr.~tr it rri„r t~~ thr ~.~lr ~~r tran,frr. l rn~icr ~ ~i::l thc E~rr.~~r~ tr ah~~in thr I'rr~~yrt~ i. hi• "~I:! , r tr,ir,.fr!~:~:! rr:~~h .:~•r~rmint i~z ~~ntin_~ ti~.+t t!~i :~~,t~t ~~f .u~h rc:.~~rt ' ..~t~~~a:?~•n h~ l rn,!rr .~nd th.~? thr inirr:~t r.~.i~.~l.lr ~~n th~ ~~~t~~• ,~:t~rr~1 h~ t!ii. ~1~~rI_.~_~ ~h:,ll },c ,ii c~~.h r:~~c at I rndcr ~ . ~ .h:~ll rr~;ur.t If 1 cn~trr h:~. ~~.ii~~~1 thr ~~E~ti~•n t,~ ;~,~rl~•r.~tr E~r~~i.1c~1 in Ihi, ~~:ir;:_•r.~ph 17. .~n~i i! R:~rr~~~+rr~. .u~~~~~~,r ir~ ' ;ntrr~,t h.i~ ~•~~:uic:l ~~rittrn .~s~utn~~u~,re a~rr~mint :~:~cp~tr~i in ~+rintr~ h~ f ~n.lrr. I cn~lcr .hall rtl~,i._~ R~,rnn,cr !mm all a ~ ,~h1i~.~t~~~n~ unJer Ihi. ~1~~rt_:i~~~ anc~ thr :J~~t~. r If I rr.ilrr e~tr.i.r~ ~~~:h ~,litE„n tr ;~~:rlrr.~!r. 1 r:~,!;r ,i, ;?1 rti:~il R~~ir~~~~~r n~~tl.< <~S .iri~lcr.~ti~~n in :~.~~~r~t:inct ~~ith :~.ir.~_•s.~~~`: ? S h~rr,~f Su~h ri~~t;,r •h.~ll t~r~~~ii1r {,iri~~~' ,~f i~~. th:in zll ,1.»• tn~m Ih~- ~latr th~ r.~~tii~ i. m:~i?ct! ~~ilhin ~ ~ . ~.lu:'ti B~~rr~•~~cr t~t.i~ t~.~: i!~c ,ii~it~ ii<<I.it~~f ~I!i~ 1t Ii~~~!,,.~.• '.i~l~ f~~ ~~:it ~~t:h .ttm~ ~n~+c tr ih< <~E~i~;~h~~~t .•t ~~t:h ~~rru~d. 3 I rn~i~r tn,~~. :~;rh,~ut ?i~rt!,,. r,~i~.r ~~r Jint:in~1 ,~n H„rr~•.~rr :nc~~1,r :~n~ r_•mrtlir, E•c~rt~iit~:.t h~ n:ir:s<_r:~~h t~ hrrc~,( ~ ~ \~i~ I tiit~~k~t ~„~ti fi~~rr~~ti.r uii~1 I rti~t~r fi:*thcr cr~cn:~nt .,nJ :i~~c~ :t~ fc~Ilt~~ct: ; IR. ,iccelrration: Remedies. F.~cept ac prmided in paroKraph 17~hereof, upon Borro~~ers brrach of an~ cocenant or - ~~recment of BnrroNer in this ~tort~a~e. incladinK thr c~~.rnanh to pa} ~~hen due an~ cum~ secured b~~ this ~inrfRa~;e. Lender ~ prior to acceleraliun ~hall mail nutice fo Borro.+er a~ pnnided in paraRraph I4 hereof ~pecif~in~: the breach: (2) the aMion , reqoired to cure ~uch brcach; (i) a date. not lecc than ;0 da~~ frnm 1he date the notire is mailed to Borrower, b}• ••hich such ~ b~each musl ?~e cured; and W) thaf failure tn cure wch breach on nr before the date specified in the notice may~ rexult in ' acceleration of the sums secured b~ thi~ ~1orl~aKr, fureclowre b} jodicial proceedin~ and sale of the Properh•. The nolice ~ ~hall further inform Borrower of Ihe rikhl tu reimtate aiter arceleration and the ri~;ht to acsert in the foreclosure proceedin~ ~ the nome~i~tence of a def•rulf or am olher defence of Borru~~er to acceleralion and fnreclowre. lf Ihe Areach is not cured on ~ or Irefnre the date ~pecified in fhe nutice. Lender at I.ender s option ma} declare all of the cum~ cecured h~• this ~torlRa~:e to be r immediateh- due and pa}able Nifhout further demand and m~~ foreclu~e Ihis 11ortKaXe bc judicial proceedio~. I.ender shall I ~ ~ t?e entilled to collect in such proceedirrR all expenles of foreclo~ure, includin~, but not limited to, reaconable atbrneti's fees. ~I ~ and cosls nf documentan• ecidence, aFntracls and lide reports. ; ~ 19. RormNCr's RiRht to Rcin+tatc. \~.tWithaandinc I cn.lrr'. ac~clcr:iti~~n ~~f thc ,um~ .crure.! h~• th~c ti1~~rtga¢c. Borrc.~er ~hall ha~~r the richt tc. h:i~~r a~~ rrocreding, hrzun h~ Lrndrr t~~ cnfi~rce th~, ~t~rtg:sge .1~.c~•nhnurd at am time ~ `secx 30$ rYcE ~~Q ; . ~ ~ y _ ~ _~_..>..t.~ m.._.. ~