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HomeMy WebLinkAbout0838 ~ . , I rn.lri'. ~.nt~~n a~r~rmrn~ ~~r ap~~h..~hir L~~~. liurn~~~~r .hall pa~ ~hr am,~um uf all nu~rt~;a~:r in•u~.~n~~ prrmium. in th~ n~:~m~~r ~~~,~~•i.k•~1 undrr {~ar.~c~:~ph ' hc~~u1 :~n~ amriinl, ~ii.hur,r~l hy 1 rn~irr {~ur.uant thi~ rar.~~r.~~~h 7. ~~:ih io~rr~,t th~r~~~n. .h.~ll h~•~~,m+ addih~,n:~) in.lchr«inr.. ~~t 13~,rr~~~~rr ~~:~ir~d h~ ~hi. \turteati~ l'nl~.. R.~n~~~~~r .~n.l I~•n~trr .i~rcr t~, ~•thr~ 1~•rm~ ~~f pa~mrnt. .:~ch .im,~~int..h:~ll Ik~ ~~.~~ahlr ti{~~,n n,~ti~r Imm I rn~kr H~~rr~~~~.•r riy~ir~iinc ~~:~~mri~1 Ihrrr.~l. :~n~l .h:~ll ik•ar imrrc.t fmm thr ,I:,tc ~~i ~ii.hnr.~mrnt :u thc r.~ta ~n~~aM! frrm timr tr timr ~~n ~~ut~~andinc ~r;nr~~,al under thr \~ac unlc.. pa~~mcnt of intcre~t a~ ~u~h r.itr ~~uul~1•Fn ~~,ntr~r~~ t.~ aprlirahlc 1:~~~. ~n ~~hi:h r~•rnt ~urh am„unlc ~h:ill 1+rar int~rc~t at thc highe~t ratc pr~n~i~cihlr undrr applir.~bl~ la~~•. 1~~,IhinE cumainc~l in thi+ raracr,~~•h 7 ~hall rryuir~ 1 ~ndc~ h• incur am• ~~{x:mc ~r takc .~m• :~.tion h~rrundcr. K. Impection. I en~lcr ma~• m:~~.r or i:~~~~c ti~ t+c m.~~r rra~onaMc ent~ir. ur~•n :~nd im~xrti.,n, Ihr Pn.~•rrh•. rm~•iJc~1 Ihal 1~ndcr ~hall ~iv~ B~~rroN'« rt~~ti~~ prii~r to am w~h im~x~tivn ~pr~il~int~ rraSUnaM~ ~:ui~~ thrr~•f~~r r~lat~d 1~~ I endir't tnt~r~.t in Ihr Pm{krly. 9. (`undcmnatiun. Thr ~r~,~crd..~f am• a~.:~rd i~r ~laim (or ilamaccs. ~lircc~ ~~r r~~n.ryu~nti:~l. in r~~nnc.lion ~vith am~ :undcmnati~~n ~~r a~hrr takinc of ~hc Pro~xrty. ~~r part thcrc~,f. ~•r fc.r c~~nvc~~an~r in li~u r~~ndcnurNi„n. arn c~rrhy a..iLncd :ut~i .hall h. ~aid h~ I cndrr. In ~hr «•cnt ~f Ic~t~l t.ikin~ ~~f Ihc P~~~rer~y. th~ ~rc.~crde ~hall 1+~ a{~rlic~l t~• thc .um~ .r,urcd h~• ~hi. \l~~rtcaec. ~~ith lh~ if an~•. ~:iid t~~ Burr~~~~rr. ln th~ cv~M a p:~rtial t:~{.in~ ~~f ~h~ Propcrt~•. ~inlr.: R~~~r~~"rr :~nd T cnil~r ~~~hcn~i,r aer~c in writ~ne. Ihcrc ~hall F+~ aprli«) ti~ Ihe .um~ ~ccur~.l h~ Ihi. ~1„rlia~r w~h pr.~~.~t~ir~e ~~1 Ih~ {~r~kc~dc ac ic cyual ti~ that pr~~r.~ni~,n ~~hich th~ :~mi~unt ~~f ~hc ~umc .r:urrd h~ thi~ ~I~•rte.iec immrdi:~tch ~•rirr t~~ th~ datc of r.~k~nF Fx:u. t~~ thc R~ir mark~t valur nf Ihc PmExrt>' immcdi:~tch• ~n~~r t~ Ihr Jatc ~,f takine. ~~iih ~h~ hal:mcc c,f th~ ~rc•«c~lc ~~aid t~~ Bo~r~~rcr. lf thc Pr.~pcrtr i~ :~hand~~~c~l h~~ R~,rrc.~~~cr. ~~r if. aftcr nc~~irr M• 1 rndrr t<~ R~~rn,~~~~r that thc ~~ndcmmv i~ffcrc to make an :,uani ~~r ~cttlr ~L•~i~n f~~r ~laniaL~•. B~~rru~~•cr fail. tr r~y~.~nd t~, 1 r~ul.r ~~ithiu in .1ac~ ait~r thr J:~tr ~ii.h n~~ti~c ic m.nlcd. Lcn~l~r ic :u~thorir~d ~o c~~llrrt :ind :~prl~• thc pn.c«dc. :it 1 rndcr'. ut•tii.n. rithcr tc? rcct~~ration ~~r rcpair ~~f thc Prnprrl~ l~~ Ihc .um. ~rrurC~l h~' ihi~ \1~~~tc:igC. t.`nlca L~nd~r :~nd Hrrr~,~~cr uthcnvi.r agrrc in ~~ritim~. am w~h :~prli~:~ti~,n ~•t rnkccdc t~, rrin~i~+:,l .hall rn~t ~~tcnd ~~r p.~~tp.+ne th~ dur J;~te i~f Ihe monthlc installm~nh r~frrrcd ti~ in p:~ratr~ph~ 1 and her~~~1 ~~r chan~e th~ .:?oti~tint of .uch imtallntcnK. w . ~ 10. BorroN•cr Not Released. 1=~trnsion ~f thc timc f~~r ~+a~mcm ur n~iG~atjon uf am~?rliTati~~n of thc ~um~ terured M• thi. 11~~rteaer er:~ntc~l h~~ 1 cn~lcr tr am• c?iccc~tior in in~rrr.~ .?f R~~rroHCr .hall n~.t ~~rrah tc, rckaer. in am~ mann~r. thr li:~hilit~ ~~f thc oriein:~l R~~rro~~cr anJ B~~rr~?wrr'. su~c~c,~~r. in intcrcct. I~n~lcr ~hall nt~t F?c rcyuirc~l t~~ ri•mmencc ~~nwtcding. ag:~in~t ~uch sur~c.si.r i,r rcfu.c t~• c~tcn~l timr f~,r pa)'mrnt ~,r othcrc~i.r m~,difv am~~rtiiati~~n ~~f thr sums .~.urrd h~ thi. kiortgaQC h~• rra.~~n .~1 .~m~ dr~n:~n~i madr h~ th~ rrie~nal B~~rn~~~rr an~l R,~rr~~~+•ce'~ ~nrc~..~~r. in intcre~t. I1. Forbearance b~• Lender \ut ~~'ai~er. .•~m I~~rt?~aran:r h~~ I rndrr in c~rrci~in~_ :~n~ riLht ~~r rrmrd~~ hrr~un~lrr. i~r ~~thrsH•i.~ alTurJcJ h~~ applicahh law. .h:Jl n~•t tn :i w:~i~•cr ~~r prerludc thc r~crci~r ~•f am wrh riehi ~~r rcmcd~•- l hr ~•r~.rnrrmcnt ~f imuran~r ~~r thc pa~~mcnt ~~t ta~r. nr rthrr lirn~ ~~r rhar_~e. h~ I rndcr .hall n~t hc ~~:~icrr ~~f I cndcr'~ rit~ht ~r a~«I~r:~t~ th~ maturih- ~•f Ih~ indchtrdnr...r~_urcd h~ Ihi. ~1~~rte:+LC. 12. Remcdies Cumolatice. All r~me~lir~ prc~~~drd in thi, \turt~~:~er arr Ji~tinct :uul ~umula~irr t~~ :~n~ „thrr ri~~ht rr rcm~il~~ undcr Ih~~ ~trrt~~.~z< <~r a1T~~rJ~~l t~~ la~c ~~r ~yuit). anJ ma~ Fx ~~rrci.r.l r~~nrurrcntl~. in~l~{knd~n~t~ ~~r .i~:~~.,i~•rl~. 13. Succcc~on and A~~iknc Buond: Joint and Sc~crrl I.i•rbilih: ('aptiom. ~~h~ c~~~rnant, :ind acr~rnum. hrrcin :~~ntainr.i .h.ill hin~i. :~nd thr riLht. hcrcundcr ~h:ill inur~ t~~. Ihr re~p«ti~~ ,~irrr.~~~r. :~mi :~,.i~n~ ~~f 1 rn,lcr :~nd R~~rr~,wrr_ .~ihj~ct t~~ th~ rrr~i.i~~m ~~I E~ar,igraph 17 hcr~~•f. :~11 ~u~~~n:~nt. :~nil ;ierr~mrn!~ ~,f Ri~rr.~~~rr ~h:ill tk j„in~ :~nd ,r~~cr:il. "~hr ~a{~ti~u~. :ui~i hca~lin,•. ~~f Ih~ para~_r.irh. i~f Ihiti ~1nrlL:r_c ar~ f~~r ~~m~•cnir!ir< <~nl~~ an~l :ire n~~l t~, h~ ~i~rd tc~ int~r~.rct c,r drfinr tlir ~~n~~i.i~~m h~rci~f. 1J. \olirc. E~re~,t f~~r ~m• n~.lirc rryuirrd un.lcr :i{~~•li:.ihlc I:~t~ t~~ hr ei.cn in :~m~thrr manncr. :~m• ni~ti~c t~ B~~rr~~wrr pr~~~icl~d f~~r in Ihi. 1t~~rtzagc ~hall ix g~~~n M m:~ilinL ~u.h m•ticn c~ :rrlificd m.iil a~ldrr+,~d t~~ Ra~m~~cr at !hr Pr~~{.~rtt :1~idr~.. ~~r :~t .uch ulh~r :uldrr.. :i~ B~~rr~,~~r: m:~~• d~.ien:itr h~ ii,~ii~~ t~~ 1 en~lrr ac rr~,~iJr~t hrrrin_ an~i iht :~n~ n~~Uc~ t~• I rn.tcr ,h.ill F.~ gi~rn h~ crrtitir~l m:~iL r~~urn r~rr~~~t i~yur.t~.i. t~~ 1 rn~lrr'. ad~lrc~ti tit:~t~d hcrrin i,r to .uch „thrr adclr~.. I.rndcr m:~} drei~natc h~ n~~ticr tr B~~rn~"rr a. rn•~i~k~t hrr~in. •~m n~~tirr pm~~idr~l f~~r in thi~ \1~~tt_a~~ +hall ik dccmrd t~~ ha~n c~rn zi~cn t~~ Bnrr~~~+~r ~,r 1 r~idrr ~~hcn zic~n in thi manner dc.i~n:itc.l hcrcin. 15. ('niform ~lortkaKc: Go~~erninL I.aN; Sc.crabilih. Th~. (rrm „i m~•rt~~aec ~_rmhincs unifc.rm i~~~•rn:mh f~~r nati~,nal .r anJ n,~n-unif~~rm :~~~c;~:~nt. •,~ith limitr.l ~:~ri:~ti~,m h~ ju~i~~iii~;~~n f,~ ~niz,t~tutc unif~•rm .c~iirit~~ in.trumrn~ a~.erin`= r..~l ~r~~~cn~ ~hi. ~turt~s:~c~ ,h:~lf Ix z~nirn«l h~ Ihr Ln~ ~~f Iltc i.:ri..G.ti~~n in ~~hich ~hr Pn•Ex•rI~ i. I~~~atrd. in thc i ,~rnt ih:~t :+m~ nr~.vi~~,,n ~u claii•r ~,f lhi. \I~~rt_~;i_r rr th~ \~~tr ;~~~~tl~.t. ..iih :~~rlir.~hlr lan. ,i~:h ~~~nlli:t ,h:~ll n;~t affcct i ,,!hrr ~.t~,~i.i~~n. ,~f Ihi. ~1~~rILa~_r ~~r Ihr \~~tr ~~h~:h hr ~~~~r~ ~•tlr:~ ui!h~~nt thr ~„ntli:iin~~ ~m.i.iu~i. an.i tn thi~ :r~~l tlu• ~~n,~~.i~~~i. rf th~ \(rrtc:?!_~ .in~l ~hr \~~tr :irr ~!~•~I.irril t,• ; .<<•~r,iM~•. ~ 16. BorroNCr'~ ('upc. [3orru~~it .hal1 h~ furn~.hr.l .i ~~+ni.•~nirJ i~~~•~ ~+t thr \rt~ .iml ~~f th~• ~I~~rt,~:~cr :~t [he limC ! _ ~ ,t r~rcution ur :ittrr r~~~~rdati~,n h~rc~~f. I 17. Tr:~n~icr of thc Propert~: :~~ti~implion. It al! ~~r :~n~ ;~.~r' th~• Pr~~~wrt~ ~~r :~n inlrrrv thrrcin i. ,.~ld ~,r tramfcrr«1 ~ f~~ R;~ir.~«~r ~.ith~~ut l cndrr'. rr~,r ~~i~n~•;~ .~~n.rnt. c~~lu.li~i; thr ~r~:ni,,n ~~1 li~n ~~r rncumhr.~n~r .uh~~nlin:~tr t~• ~ ":ll. ~~~~~flL:i~~C. (~~1 i~ll' ~fl':tlll~lT .t E~Elfill:~~C ~I1~~ItC~ .iitlCll\ fllifC~i 1~`f ~1~~!I.C~I~~I~~ :Ir~~1:~fl:C~. (~1 :1 If:It1~Il'f h~' l~l\'ISC. ~ ~ir,icm ~~r h~ ,,~~rt.iti~~n uI L~~~ tip~+n Ihr ~li.ith ~~t i~~~n~ trn.inr , : ~~i~ thr ;~ranl ~~t .uii I~::.rh~~ld intcrc.t ~hrr~ ~~:~r~ .~r Ic~. ~ n~~t :r~it:+inin~ :~n ~~~ti~~n t~~ ~~urcha.:. I rml~r ni.«. .~t I rr.ilr~~- +,~•t~,,n. drr!.~rr afl thr ~um. ~~:ur~d h~ Ihi? ~1~,rtLa!tc t„ hr minr.li:~trh dur .~nd ~a~~:~hk. t rn~l~r .ti:ill h.:~r ~~.~,~r~1 •ii:f; ,~~,u~~n t~~ :i,r~•Irr:~tr if. ~ri~~r tr thr .ale rr tran~fcr. 1.~nJcr ~ .~n.i thr E.rr~~~n t~• ~ch~,m thr I'n~~~rit~ i, i,~ hr •~~lJ ~~r tr.~mfr~r~.l rra:h .i_rr~mcnt in ~~r:tinL th:~t Ih< <rc.tit c~f ~u:h E•rr.~,n ~ i~ ~.~ii~f:iil~~r~ h~ l in.t~r .md th:~t Ihr in~rrr.t ~:~~:~hk „n Ihr ~i!m, .~itu~d i.~ thi. t1.~rt~_:~~~c ~hall hc at ~~i:h ratC a~ 1 rndCr ~ •~h.ill rCyu~~i If I:nilrr h:i~ ~+ai~r.i Ihr ~~Fti~~n t~~ :i::rl~r.~tr ~~r:ni~t«I iiz thi. ~~.ir:~_r.~~+h 17. anil il fi.~rr~~H~r'> >ur.~tisi~r in n~rrr~t h.i• r~~cutrJ a~~ntlrn :~s.uinp~~~,n acr~cm~nt a~:r~~t~d in ~~riun~~ hc 1 rn~lrr. I.~nJ~r .hali rrl~:i~c B~~rr.,~«r from all ~y ,,hliz:~ti~~n~ un~lir ~hi~ \1~~rte:i~,r and thr \t~t~. ~ ~ l'Ill~lf l\l'fil~t? W:fl ~~E~II~~11 1~~ :I~iC~~'.':~tti. ~ CSI~~~'f ~fl.i~~ m.~i1 R~~rr~~~~rr t1~~1fi~ ~~1 :Illl'~l'f:1TIl~f1 in ,::~~ril~ncc Hl~}1 R :~ar:~_~r:~~,h 1-3 hcrr~~f. Su:h r.~,lic~ ~h.,ll ~~r~.~•iJ~ {~rti~~~l ~•1 n,,, Ir~. than ?O ;la~• (n,m thr d:~tr thr n~~ticc i. mailcd ~cithin ~ .~h~:h R~~rn~ucr nt:~~ E,:~~ Ihc ~um~ i1e:l.~r~.i iln~ It }{~~rt~~~~i•r t.~cl, F~~ •.urh .unt~ ~~i~~r t~~ Ih~ c~rir:~ti~~n n( wih r~ri~~d. I_rnJcr m.~~~. ~+ith,~ut furthrr rn~ti.r ~,r Jrni:~nd ~~n li,,rr~~~~cr. ~~ic~~{,~ :~o~~ rrmrdi~~ ~inutt~.! h~ ~:?r,~graph 13 hrrcaE- I ~ \~i~-1 vtr~~~t (~~~~t ~~~r, Borr~.~~cr an~l I rn~ier furthrr ~~~~~cnant :~nd c~err~ a~ f~lli~w•s~ ' 1 R. Acceleration; Remedies. Fxcept as prm ided in parr~r•rph 17 hereof, upon BnrroNer s breach of any~ co~~enant or ~ ' akreement of RorroKer in this ~1orlRa~e. includinR the co~enants to pa~ when due am cum~ secured b}• this ~1ortRa~e, I.ender priur to aceeleratiun ~hall mail notice to BormKCr as pro~ided in para~raph la hereof ~pecifcin~: (1) the breach; (2) the aMion ~ required to cure such breach; (,l) a dale. not less Ihan 30 da~s irom the date the notice is mailed to Borrower, by which such ~ breach moct be cured: and (4) that failure to cure wch breach on or t?efore the date specified in the notice may result in ~ acceleration of Ihe sums secured by~ thi+ ~tortka~e. forerluwre bc judicial proceedin~ and cak of the Properh~. The notice ; ~ball further inform Borrower of the rikht to reintitate afler acceleration and the riRhl lo acsert in the foreclosore proceedinR ~ Ihe non-exictence of a default or •rm~ olher defenu of Rorrower to acceleration and foreclosure. If the breach ic nof cured on ~ nr before Ihe date specified in the nolice. Lender at I.ender ~ option ma~ declare all of Ihe sums secured b}- this ~tort~;a~e to be ~ immediateh• due and pa~able ~•ithout forther demand and ma~ foreclo~e this ~1nrtRa~e b~ judicial proceedinR. Lender shall ~ be entilled to collect in such proceedin~ all expenties of foreclo~ore. includin~, but not limited to, rcasonable attorney's fees. ~ and costs of documentan~ e~idence, alntracls and litle reports. ~ 19. Borrn~er's RiQht to Reinstate. \i,ttiithtitandinc I.enJcr'. a~rrlcraU~~n ~~f ~he ~um~ ~ccurc~l by this titorigagc. ~ Horrower shall havc the right ti~ ha~~t :im pnxccdine. hrcun h~ Lcn~ler tu rnf~~rce thu ~1c~rtgaec di~continucd at an)~ time ~ - ~ ~ ~ go~K 3U9 ~A~E 83? ~ ~ j ~ _ _ _ _ . - ~ . .