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HomeMy WebLinkAbout0945 ; . • t 1~n.lrr'< <~ritt~n .i~:rcrmcnt ~~r ap}~It..~bk L~~~ Is~~rn~~~~r ~hail p:~r ihr .~m,~~;nt ut .iU muita:~_c in.ur.~n~r pr~•mium. m thc m.~nc_~ ~,n~~•i~1~~i undrr ~~ar:~iraph h~reuf :~n~ am~+unh J~.hiinrii h~~ I rnJcr ~:w.i}.u~t t~~ thi, {•.~r.~tr.,~,h '~~~~h uitrr~.t th~rc~~n. .h:ill he~c~mc a~1~l~U~•na) ill~~i~ft'l~I1C~~ i~~ (~~~lt'~~tt~'I s~cur~~if hl 1~t~~ ~~Vf1L'.~~i` ~~r1~C.~ ~~~~~I~~:~if all~) ~ i'A~~C~ :IYfCi' h~ ~~I~1Cf Il`ffll~ r:IClill'ill. ?lll'Fl ani~~unt..'i:~ll h~ E~:~~:~Mc nE~~~n iiuti,r in~m ! rnti~r fi,~~r.~~.~rr rr.{ur•tinc ~~,~~inciet It~rrr,~l. anil .hail hr:u ir,~rr~.t fr~~m thc .I:~t~ ~.f .ti.hure~mcm at th~ ratr ~a~:~hl.• fr,~m timr t~. t~nu ~~n ~,ut~t:indinc ~~rin~ir:il ilndcr thr ti~,t~ unk.. pa)~mcnt of interr.t :N ~uch r:~tr ~~i,ul~l t+~ c„ntr:~n :~p{~liiahlc I:~~~. in ~~hi~h ~v~nt :urh am;~untti ~~i:il! hear i~NCre~t ;N the highect rate ~rmi~eihlr uncicr :~~,pli~ahk I:~ti~ ?~iNhin~ ~i~ntainid in lhic p.~raxra~h 7~hall r~y~iirr I cndcr to inrur am• r~~xn.c ~r takc .~m• action hrrcundcr. - 8. Inspcction. 1 cn.1~r ttiav m,~Ar ~~r ;:u~.c tc. hc m:?dr fC1~OhaMr rntri~. u~~.~n and im~xrti~~m ~.f thc Pr~~pcrtt•. pr«~•iiled ihat I.rn.lrr ~hall R~~rn~~ti~r nc~ti~c ~ri.~r to am ~urh in~~ction .E~ccif~•~ne rra,i,nahic ~:?u.e thrrrf~~r rrl:?tcd t~• 1 cnder's ~ntcr~~t i~t Ihr Pm~rh'. 9. Condcmnatio~i. Thc rrr~r~d~ ~~f am• a~.ard ~~r rlaim fur ~tamaecs, dircci ~~r :~.n.rqucnlial. in arnnc~tinn ~~•ith am• :ondemn:~ti.;n i,r.~th~r takin~ c~f the Pri~~.rrt~•. ~~r part therr.~f. c.r for eunv~~~an~e in h~u r( r~~ndernnati~v~. :~rr l~~r~h~• a~cicned :m~i ~hall b~ p.tid t~~ i.cnd~r. - - In ~hc c~•en1 ~.f t~~tal takin~ ~,f thc Pr.~~r~~•. th~ pr~,:r~dc chall tti a{~~~licd t~~ thc wm~ .~~urcd b~~ thi. \tartga~r. ~~ith 1hc r~cc:~, if an}•_ ~,ud tn R~~rn~~~~r 1~ ~hc cvcnt ~~f a~+a(ti.~ tat~in~. nf thc Pra{•cn~. unlcc~ Ii~~rr~~~ccr :~nd l.cndCr «thcn~i~r a~ree in Hrihni. thrrr ~hall he applied t~~ the ~um~ ~ecureJ b~ d~ic' \li~rte:~tir •~r:h ~~r~~~+~~rti~~rt ~~f the pr~eeds .~s ic cytr.il t~ th:tt pr~~~.~ni,~n «hi~h thc :~r»~~u~tt oF thc .~lm. .~.ur~d h~ thi~ ~t~~r~z:~ec immr~li:~~rh~ pn~~r i~~ ~hr datc of taking hrar~ to thc fair n~arkrt valuc of thc Pro~xrt~• immcdiat~l~~ pri~~r to thc .latr oi r,~kinc. ~~ith thr halan~r ~~i thc prck~c~ls paid t.? Borrower. If the Prapert~• ie ah;~nd~~ne:l h~ R~.rr~~~eer. ~r if. :+~ICr n~~ti.•e h~• 1 rncler t~~ R~~rr~~«er that the rnndemn~r c~l'ferc tc? make :ut aa:~rd ~~r ~et~le :e cl:eii» t;v ~l.in~ae:r,. $~~rr~~u•~r faih t~~ rr~jvm~l t~~ 1 rn~lrr ~~ithi:i ;1? ila~. :~ttrr th~ ~l:itr ~u:h n~•li~e is mailed. l.e+t:i~r iti authorired tc~ c~~llec~ and ap~h• thr ~n.:~_rd.. at 1 endcr'. ~.E,ti~n. cither u, :evoratic~n i~r rt:pair <~f the Pru~xn~ ~•r to Ihc ~um~ .c:ured h~• thi. ~1~rt~aCC. t:nkc, ( en~fcr :.rd Ctorn,.~~r ~.tiicn~i.c aerc~ in «ritim_. :int .:~:h :~~~~~li~.iti~~n ~~f pr~,:crd~ rrintin:,l .hall rn,t c~tcnd or pu~t{~~nc th~ duc ~l:,tc ~~f thr m~,nthh inc~:~llmrnt. rrfrrr~.i t~~ ii~ ~.;r:~;:r:ii~P„ I:<nd ' hrrr~~t ~~r rh:~n~~~ thr :~m~~e~nt „f ~u~h imt:~lhncnt~. 111, i3orru•a~er Vot Relea.rd. i=~te~~si~n ~~f the tim~ 1".~r ~~:i~mrnt ~.r m.~~tifi.,~ti~~n ~~f am,+rtiiat~c~n ~~f the •um. cerured ht• thic ~i.~rt,~a~r grantctf h~ I crt~lrr ti~ ~n~~ ~uccc.s„r in irurrr.t ~~f I3~•rr~»~rr tih:ill nc~t ~.rrr:Hc ti~ r~ka~c. in ,tm' ~zianncr. th. liahdit~~ ~~f thc urizin:il Bc,~m~+er :ind (t~~rrc~~~rr'. ~ii.~c~,~~r. in inrrrc.t. I cn~lcr shall n~~t tk n.~~iirc.l t„ c~•mmcnrc pr.~cc«iinge ae:,in~t ~urh ~~~r:ccci,r or rcfu~c t~~ c~tcnil timr f~~r ~a~•mcnt ~.r othcr~~i~~ m~~~tif~• ~murtiiati~~n ~~f Ihe s~~ms .r~urcJ h~ ~hic T~tortkagc h~• rcac~~n ~+f :im dcmar~i m:?dr h~ Ihr ~~ric~nal Burn+arr and B~~rr~nrir's ~ttrir~.~~n in intercat_ 11. Forbearance b~ L~•nder \ot :e ~~'ai~er. ~1m~ f~~rFkar:,n.r h~ 1 rndrr in r~cr:i~in~, :~?i~ rieht ~~r rem~~l~• hrrr~~n;trr. c~r ~~thrtw•i~c afTurdcJ hr applicahlr l:n~. .h;iil m.t hr .i ~~•:ii~~r ~~r ~+rr~l~~dr thr ~~rrci~c ~~f :~m ,uch ri~ht „r rcmed~•. Th~ p~ekurement of inwranc< <~r the ra~•mcnt ~~f ta~c, ~~r rthrr 1irn. ~.r ;h:~r~_~. h~• i ~ndrr .h:~tl n~t tx~ ~•:~~~~~r ~+f 1 ~n.lcr't ri~ht t~~ a~~rl~rat~ tltt m:~turih ~,f ~h~ in~lil~t~tinr.~ .r•_ irr~t h: thi. ~1c~rt!~:i~,e. 12. Rcn~edic~ ('umulali+•r. ~~Il rcmr~iic. ~+r~~~i~lyd in thi. \t~•rt~:izr :~rc ~li~tin~t :~n~1 ;:umulati~•~ t~~ :ni~~ ~~thrr rizM ~~r rrme~l~ un~lcr thi, Z1~,rtc,~,r ~,r a~T~,r~rd hc la~~ ~~r cyuitc .~n~l m.~~ h~• r~~rci~rJ ,•~~n~~~rrrntl~'. indCrcndcnt•.~ n: .~i.':r~~i~•rl~. 13. Successorc and :1c+i~nc Buund; Joint aud Se~eral I.iabilih: ("aption.. ~(~c .~~~~nant. :tn~i :~Lr~rnTrnt. h~rein :,,n~:un~~l ~h:~ii hin.t. anct tfi~~ ri~htti h~rcuridcr tiha11 ~n~~rr I~~. thc rr.E~~ili~~ ~iicc~.,~~n anJ :»,igm .~f 1 en~kr :~nd R~~rm«~r. ~ubj~~t ts~ !h, rr~~~i.iun. c~I p:ua_l'raph 17 hrrc~.(. ~~II ~uc~n:~nt~ :~n~i :~~rc~m~ni~ ~~f R~~rr..«cr ~hafl tx j~~int :~~ii1 :~~cr~l. ~hr c:i~ti;~n. ,~n.i hra~lii~e~ ~~f ~hr ~:~ra~r:~E,h. ~~f ;hi~ ~l~~n~,:~~r ar~ frr r~•nccnirncr .~nl~~ :~n~i :~re n,~t 1~~ h~ ~i.eil to inlrlr[rl ~~r dCfinr thC ~r~~ct~t:~n. herrnf l~l. \ofirc. E~rc~t f~•r :in:~ n~~tirc r.u~~irrd ~~nclrr .~~{~li.:~hlr i~•.+ t~~ h:~ !~i~~:~ :in„thcr nl:in~ier. (:U att~' nuti~c to R~vr~i~~cr pr~,~id~d I~~r in thi~ ~1c,rtgaec .hail t,~ Li~~~~ h: m.u;in_~ .u:h n;~tic~ h~ ~rrt;fir.l m.iil addrr~•r:l t.~ R~~rm~tirr at thr 1'm~xrtc :~~ldrr.. ~,r :it .urh .~thrr :~.Idr~•.. :i. B~~rr~~.~~~ m ilr~:_•r,:~~r I.c ~~~~~i:r t~~ I rn,i.r :i~ ~r~~ci.1r~1 lirr~in. :m~i (hl .~m n~Ki:~ 1~~ I Cn~l~r .h.~l( h~ .•~~'cn h~ C~ttifsr.i n?,ni. rc! ;rn trrr:E~t rr~l~t~.tc~?. I:mtr~ ~:ul.irr~~ .tat~'~! hCrrln nr to ~trch uthcr addre., 1rn~lrr mae ilr.iin.Uc h~ nc~ti~r t~~ Rrrr,.~~rt l,nn:ilr;l hrrrn~. ~m nuti.r ~r~~.id~.t fur in thic \1~rrlLae~ ~h:+ll t~r ~iccmcd t~~ ha~~ hrrn ~;~r~i t~~ 13~,rr,,"r~ ~~r I rr,.lrr ~~h~n !~nrn i!~ ih~ nr.~nncr dr.isnale~l hcrcin. IS. l'niform ~turtkat!c: Gu~rrninL' i a~+: tic.cr.~bilil~. 1~~,. i,,~.•i •.~i m~~rt~•a~•~ ,.~mhinrc unif~,rns :~~c~n:utt. f~~r siati~~n:J illl' :Ifll~ I1~N1-Utll~~~f1:1 ~~~\C'1 ~'!i. t~ll~l Rlllllli~{ ~:ICI:t(I~~(h f~t ~;Hr~~t1:(tuft ti~ i~t(1~(t1Uft' :1 I!tli~UT111 `t'iUfl!': U)~I(illllGll «~~~cr~ne rca! pn~Exrt~~. 7hi, ~l~~rt,•:~~~~ ~h:~l! F~ :~~~trrnid h~ t!u• I.~~~ ~•f Ihr tnri.~li:ti,~n ~n ~~hi:h Ihr Prnp~•rI~ I~+~atLd In thC ~~~rnt ?h:it :~m ~•r~~~i~!~,r ~•r ~L~u.r ~~t ~hi. \1c~rh~a_r ~~r thr \~~rr :~,ntii:t. ~~ith :ii~t~li::ihl~ l:~w_ .u~h r„nflict ~hall tu,t ~fTcct ~~f~ll'f ~1f~~\t~liHi? uf ltl!. ~~t~f~t',1'_': t~f ifli ~~~1~' ~tifl~~fl ::IIt E~i ~I~ifl C~~c'.' \~~I~f1~~i!t Ifll' l'~~f11~~il1llL' ~1f(~~t~li~(l. :~f1C~ if~ 1f115 rn~l Iltr ~~nni.h~m rt !hr \1rr!_'aer :~r~l Ihc \~~tr arr .liil:ur~l 4•r .rrtrtihlr. 16. Borro~~cr'~ ('op~. Rnrn~~.~~ .h.~!I hr fi+~rt,,}~~vl nh,rm..i ,r rh~ ~~~tr ,uu+ ~~f thi. ~1~,rteacr at t!:~ timc .,1 r~r:uti~~n ~~r :i!trr r~:~•r~:~ti~m iicr~,,f. 17. Tran+fc~ of Ihc {'ropcrt~; :~~tiumpliun. fi .,li ~,r :~n~ ,,,~rt ~,f fi,~ Pr,yr;[c ~~r :m intcr~« ~h~rcin i. ,~~ld ~~r tran~ferrcd h~~ K~~rr~~urr u~th~~rt I~~r~cier'~ nr~i~r t~ri(~~•~~ ~,~~t.en~. e~.;iuliri_ ~.~r th~ ir~~ti~~n ~~f li~n ~~r cnctimhr:ut~~ ~uhi~riiin:~te tt~ thi. ~1~~rl~aec. Ih? thr cr~ati~~n rl t~ur:h:s.r nt~~n~~ ~rit~. •ntrrr.! f~,r h~~~i.rh~~1~1 :trj~li.in~~;. Ic? .i ~r:~n,fcr h~ tic~isc. ~1c~~cnt nr h~ ~,p~r.ition ~,f I:~:~ up.~n thc ~lr:~th ~~t ~,~;n~ tr~i.~n! ~~r (~1~ ;hr ~r:~nt ~~f an~ ;ratich~~ld int~rest ~~t tiir« ~r:u~ ~~r Icct 11~~1 Cl~~l~:iininz :in ~~~tlt~(1 1~~ rur:F'1:1CC. ~ l'fl~~C( Ill,l\. .~f ~~'itl~i t~~ ~~(~t:.~l1. l{C~~:I/C :1~~ (}l~ ?Utll~ .c~i~rcd h~~ ihi. ~~I~fIL:!_•C ~1~ f1C ::ini~.!~:~tric d:tc :ut~l ~~;~~:thl~. ! endrr .i~.}ll ha~e ~+ai~:il .;~.li ~~F~U„n t~~ ~~cctl~r.rtc 1(. (i~It~T t~~ th~ .alr ~~r trantifer. I rnder :~nJ thc ~xnrn t~~ uh,•m thr Pr~~p~rt~ i, s.~ hr .rf.i ~~r tr.im:rrr;~i r~;~.h .~,r~rm.nt in ~~ris~ni th:~t thr rrr~lit ~~f ti~irh Exn~,n ti:~Iitifact„rt t~~ I l1i.I.'f :ii1CI I{l:~I thc int.~~.t ~,:;~.~hlr .,n Ihi ~tint. .c:~irid h~ thi. \ii~rizazc ~h:ill he aI sn:h ratc a~ I.cndcr ~h:~{1 reyu~~l. If 1 rnii~r h:t~ :~':iice~i thr ~~n~i„•i t~, :~~«Ir;.~~~ ~r:~c~c1~J rn thiti p.~r,~er;t+ h 1?. .~nJ if ~3~~fr~~~+•c~~> >UC~cscc~r in intrrc.i ha. rxerutcil a~+rittrn :,ti,um~ii~~n alrrcmrnt a;~r;titrd in ~~riri~i_• h~• I cn~lrr. I.en~ler ~hall rclea~e Rnrm~~cr fr~m all ~~hlig:n+c~nti un.fcr thi. ~1„rt~,:~cc and thc ti~~tr. II I endcr ~~~rii~r. ~uch ~~rtin!~ f~~ :~~~~I~r,irr. I~n~1~r .h:ill nt.iil R~~rfc~~~rr ni~!i~~ ~~f :u«iCr:~ii~~n ttt :~:icz~dancc :a~ith E~aragra~h I-1 hrrr~~f. Surh n~+~icc .hall ~~ruviclr t~rri~~.t ~.i m,~ 1~~. tha~~ 3~ ~L~ti•. /r~,rn thr daic thc m~ticc i; mailed uithin uhi;h R~~rr~~ti.cr m:~~ E.:i~ thc •:im~ dccLic~J due It 13~~r~u,.,rr t.u1. r~~ ~~a~ ~a~rh .~ii,~~ prirr t~~ thr e~riratirn ~~f ~u.h {~rri~~d. I rn.icr ma~. ti~ithi~ut further n~,~icr rt.li•ntand „n fi~,rn~~+rr. :n~rl.r .ui~ rcmrdics ~xrmittc.i h~ ~ar:~~ra~h I~ hcre~f. :Voti-L'~tt~tt+» ('o~tx~vrs. Bnrr~~.+cr an~l 1~n~1er Curthrr rr~cnant :~nJ aer« as folluw.: 18. Acceleration: Remedies. Fxcept pro. ided in para~;raph 17 hereof, apon Borrower c Areach of an~• co~•enant or aRreement of BorroN~er in this ~tortRa~e, includinR thc co.en~nls to pa}~ Nhen due am sums zecured by this ~iort~a~e, Lender prior to acceleralion sball mail notice to BorroNer ati pro~ided in para~raph 14 hereof spec+f}inR: (i) the breach: 121 the acfion required to cure such breach; ~3) a date, not less than 30 da~s fr.~m the dale fhe notice is mailed to Aorrower, by which such breach mu~t be cured: and (41 that failore fn cure such bre•rch on or before the date specified in the notice may result in acceleration of the sums secared b~~ Ihit ~tortRaRe, foreclosure M judicial proceedin~ and sale of the Properh~. 'Il~e notice shall further inform Borro.~er of Ihr riKM to reinslate affer acceleration and the riQht tn acsert in the foreelosure proceedin~ the nort-existence of a default or an~ ~lher defenu of Rnrrower to acceleration and f~,reclosure. tf the breach is not cured on or before the date specified in the nofice, I.ender at (.ender s option ma~ declare aq of the sums secured b}• this MortRaRe to be immediatek due and pa}~able without further demand and may forecloce this ~tortRa~e b~ judicial proceedin~;. Lender sha11 t?e entitled to coUect in such proceedin~ all expensts of foreclosure, inrludieQ, be~! nut iimited to. reasonable ~ltorne}'s fees. and costs of documentary evidence, aFntracts and title reports. 19. Barrower's Ri~;ht to Reinstate. tic•twith~eanding I.~n~irr~~ acrelerati~~n d~f the sum< <ecureJ b}~ th~s 'Nnrtgage. Bormwer shall have the right to have an~ prc•ceed~ngs Fx~~un hv i.ender t~• cnfc~rce thi~ ~lortgage discontinued at an}• time ~~;;?x3i•3 P~~E 943