HomeMy WebLinkAbout0108 . ~ ,
1 indrr•, aatlttrn at;triu?cnt .,t apltll.abl.• Llaa. isl~rrl•aaic ,hall i,.n the .un,+I:nt ,+1 :111 mr?rlg:I~r imur.ul;a~`ptrmiunt, In the
nt.uulir t`:,+vu!i.l t.ntlcr pala~raph 3 hcnof•.
\m .Itntnult~ dl,huraid hr I rndrr I,ul,n.lr•~ t•• thl, par l_la, h ~ aa:Jl uttirr`1 thin•tm. ,it.lll hr:+ani adlllUl,n:Il
InJrh`idnr„ ,•t Itl,rn,aarr ,r:urid ha thl, \i++tt~.lC.• 1 :Ili., Htar,~•.air .In,i 1 rr•!~•r .1_•n•r It, l,thrr u•rn?, of haantent. ,urh
.uulamh ,h.lli i,e ha~ahli uh•,n n.•ti;r fnan 1 indrr t.+ H `rn•aarr Ir.iur,+inc h.lar?a•nt tlr•rc••f :utd ,h.+il hi.Ir intrrr,t frl,nt the
.I,ttr laf .ti,hur,rmrnt at thi r.ltr haa,thlr Ir.+n? time to runt .uI lult,t.uulinC hryn.ihal under Ihr \1Hi unit„ pa}'ment of
i:?teri,t ;It ,u;h rati aala•11,! he t:l,r.tr,ua t.+ ahhli:ahlr I:Iaa, in aahiih ivrnt wch :unlnutt, ,hall i,rar intere,t ,d the highC,t rate
prnnrcaihli undir ahrli:ahlr laaa. \,nhing i++ntaincd in thin hara~r,Ihh 7 shall riyu~rr 1 inder tl, incur am' e~peoce ~r take
.Im_ a:tion hireand~r.
8. Impcctiun. I rndrr m:?~ n?,Ikr l+r cau,c to hr made rea,ltnahle rntrir, uhlu? ;Ind in,hritilat, l~l the i
n+l+rrtp. pmvidcd
that 1 ender ,h:dl dive &xmwrr n.+uie hri.•r to am' arch in,peclunl ,}>«if>,In~ rcacl,nahlr i;ul,e ther.•f++r related to I ender'c
mteri,t in the Pmprrh'.
9. Condemnation. The hr.+; red, 1+t :Im~ aaeard or claim far damaees. direct lv ~lat,eyurntial, in ila?nectil•n with am'
,undrmnatian tar .oher [akin[ of the Proprlt~•. ,?r part thercuf. l,r fat crnvea•ance in lira ltf crndinul:Irian. art herehr accicncd
aril ,h:di he paid tia Linder.
in the ra•ent ctf a t.~tal takinC l,f the Pmpertr. tha: hrl.ccr(Ic ,hall fk aphlirll ha the wm, crrttred M' this Mortgage.
asith the e~re.c. if am'. paid tp Al?rn+aver. In the event l,f a p:ulial takine l,f the Prl~lxrtc. anti„ Rlarrl,aa~rr and T.cnder
l+then+i,i agrcr in writing. [hire shall hr applied to the wmca,e~urrll he thi, Mlarte:ICe ,urh prltp<uti:m of the pnxeedc .
ac is equal taa that pra,hl~rtil+n aahiih the ;Imluu?t rf the utrnc ce;urid h+ thi, \1l,rtt~aLr imntidiately hri.,r tl~ the date ctf
taking hear. to the fair market rdur of the I'r.tpert~ immedi:Ueh• prilu u+ the date elf [akin+~. aaith the hal:uta:e of the prckrcds
paid tia Borrower.
if the 1'?opcrty i. ahandl,ned h~ Rarrl,aa'rr. l,r if. after nlatirr by 1 indrr t.+ Bl+rr.nerr that the rondrmnur l.ffcrc to make
an aaa:ud l,r ,ctrl; a claim ftar ll.unair,. R.•rrl,wer fail, tl, rr,plald U~ I indrr aaithin 31? daa, :Iftrr the date urh nl+tirc ie
ntaiird. Lender is authori~rd to statics[ and aphh• the prl.;ridc. at 1 ender', (,latilan. either tia rr,toratilm Itr repair I,f the
1'mpirtc ur t<+ the ;art, u.ured ha thi, ~llartga_r.
l•nte., 1 rndrr :utd 13orruaarr lahrnai,r agree in acritim•.:ula ,ugh ;Ipph;.ltil+n of hnaredc t.a priniihal ,hall plat eVcnd
tar pl„tplate the due d:Itc l+! the ntl,nthly in,l:Illntertt, rifrrrrd tl, in h;tr.?crahh, ! and herel,l rr ch:utei ihr antl~unt laf '
,ugh ir,tallntent•. '
10. Bormwer \ot Released. I~~ten,4~n l,f the turn i,+r naamint <+r mrdifii:du+n l.f ann~rtiiatil,n l,f the :umc ceiurrd
h~• the, ~f: i ::iii Kr•iii~„ 4. i ciiurr tl~ aril ,tiCCl'\\lir ii? IiitCia;;t ,+t ill+rr,aaarr "•it:i{{ it(~t iai:a:rate reiraae. .u u.
the liahiiit~ +l,f the l?ri~inal Bl,rnaa+rr and Brrn•aarr•, cu.rr,,,,r, in imrrr,t 1 ender chap ntat he rryuirrd U~ .commence
ht,•,redini, a~ainct such .uit;r„nr l~r refu,r a+ raten.l tnnr liar paa•mint l,r lathcraai,i ml,dih• atnnrtiiaurn :at the sums
,e~urrd ha thi; ~1;+rtealr by rra,lat l,i .utc drm:uui made ha Ihi lariCinal HlUrl,aarr alto Rt+rruacer'c cniii„t,r, in intcrr~t.
I1. Furberrance he Lender \ot a ~~'aiarr. \na fl~rf,ear:utii tia 1 indrr in rserii;it?_ .uta rich[ 1+r rrmida• hrrrunder...r
+thrraai,e atiordrd ha ahplicahli lain ,hail m,t hr a ar.lia.•r + t t,r pticiudr the ivercix ld ana' ,urh ri_`ht tar rcntrdc
fhi hnwurentrnt <af imuranre ur the laaet`tint .,f t.lai, ++r t•thrr In•m t,r ii~;uLr, h~ I-rndrr ,hall-nnt hi a aaala•er •+f I inllrr'c
rich[ t,+ ac:rlirah th~• maturitc l,f the indihtidnr„ ,i_nred h, chi, \turt2aCr
12. Rcn?edics ('umulatiye. All rimcdir, hrl,ailkd in thi, \1,art~,age ari di,tinit anti ;unntlativi tl, .tna t•thr: crept l•r
rimede nndit the, \11,rgaCi „r alflvdid ha I::a+ rr ryuit•...ulal m to hi raeril,id i•+netr.r:rlh. inalrprndintla ,niii"ivik
13. Suctressors and :~ssignc Bound: Joint and tiraeral I iabilit~: ('aplimn. ~ihi u~a•enantc and a>!rirmint, herein
.+mt.nni.t ;h,a! hind. and the crept, !lirrundrr ,hail uteri t,,. the n,hritiar ,nrii„t•r, enli a„ign, l~f I enltr? .utd Brrrl,accr_
.Ilhir~t t.a thi iu,+ai,iun, ,+t h.,ragrah>t l r hire:~f \tl .uair:.uu, .:nd a}:rermrnt, ~+f Rrt:l,urr ;hall LC i•`int and ,iaeral.
Ihi iahtrt+n, an,i ilr:ui n_. +•f .he , ar.l,ra;zh- ,+f thi, X11+rt!_as;i an• f++r ..•rnenirt`ii. +,nh• and ;Irc m+t tl, hi used to
~rrirrvrt .+r defini the nrl~ai,i.,n, !?irert`
1•t. ~rlt il'l'. 1?\ii t~l I1`r :Ill`: fll,l!ie trill rlrl'd ?Inl!i( :Ihhlti :ef`!i 1;1'.a lt• hr ita'r tt :n ::+L,1hrr mallnif. (al .I IIV nl,t ll•r 1(1
131+nt,aair Ilr.ntdid fir rt thi, .\1t+rtLa,•e ,pal! ix c:ain h•. r~,, .i:?~ ,u,h rn•t?ri ht :i?ufirl' nt.lil :uldre,~id t++ Rl,rrnarr at
thi Nr•+t+rrt\ \dllrr" ++r :11 ,IICh 1+Ihrr .ui(lri,~ a, lit•fr•+"•if tl'.1' .Ir,a'I?.Iii i,\' IhHl~r I', t ith!•1r :K hft+\Ided hrrrin. and
?h+ ;In nl+tiii tl+ I rndrr ,h.ll! hi• _•lain M irrtitiial nl:ul. Irtunl rrcili~t ria!I i,tid. I cndrr. addre„ ct:?tid hirrin cat to
~Irih ;•thc•: alidrr" :n I indrr m.:r ,li,ign:,+c ha nrti;i tr li,•.r,••.air a, hrtnrdil+ hrtin,. \na• nl,tiii hn,vidid liar in thi;
\1,+It_.t>;i,hall ixr tiecrx•,i h.r.i hrrn Clain tl, li,,r*,•aar, t~l ! ,r.dcr aahin ![lain it the tn:umir de,ienatal herein
1~. l•niGmn ~1nrlLakc; Guycrnin~ Lasa: ticacrabilih. I!:_ ••n ,+t mnrtL:I,i _,•rnhini; nnifl,rm il~arnant, fl+r natumal
i,i :•nd n+,n unlt.+rrt . ~ai, :.m. itit !nni?r,` •..Iriah,+n. I~ itl•,n t+: i~+n,tautr a unifl,rm ;ciunta' in,tnuttrnt il,aering
rcat het+hirta Iht, ~1.,rt~_,nsi ,h.tll hi ,++•.rrnrd i•a the 1.1•.. ,•t thi iun,,il;?n+n ut aahiih the Property 1, hsatid. In the
iarnr that :eta' :~r.+ci;itvl .•r :I;urr ••t till. \tt~rr_a_:~ .•r the ,tntt'.i,t. .ailh :IPt~hc.lhli laaa. ~nih inntliit ,hall Hilt affect
+ahrr !•t,+a ,i,+n, .,f tit:. \t.+rte::_i t•~ thi \,+t ..II•,i: :.1 • hr ,1•.in rtfc.r •.ai~h:,ut the il,n!Ti,um• hrlaai.il,n. anti tl~ this
inu the t,rt,•.I,tlm~ t+! ~hc ~l••r•_.1_r :u~li ihr ~+4i a°r .!i.'arrd t•• hr ,rcirahk ~ _
16. Borr?raa-cc's ('upa. Bl,rr:•r.rr ,h.til hi f~en:Jx•.! .t •nt.•rtn:d it•t+•. chi ~+•ti .Intl t+f thl, \L`r:~•a!•r :II thi time
.,t .~e:uturn l+r attic ri.rrdatiun hiri•+`t.
17. 'i'ramfer of the Prupert+: ~csnnyNiun. It :11! • ~ a; ~ t`.:rr l,t +hi I'n•t+raa 1+r :m Intrrc,t thirein i, ,.•ld 1+r tran,ferred
!,a lil•rnt•ai, ~a~thrut l indrr', hr+:tr aatlttir; •n,int. r~.l,l im_ t.l~ the :ri,tti,•n l+i .I liin 1+r en.umhrln,i whl+rdinate tr
Ih:. ~1rrt~.t_r the ?hr in•atil+n ,+f n:;rih.ni ntla:_••. „•ni intirr,t f,+r h.nl,rhl,!.1 at+hir.tn:i,. lit :1 trut,frr M' devise.
~ dr,.int l r ha' rl`rrltun: ,,t laa+ uh,+;t Ihi ,ir;Ith •,t •~t tin.utt t•r the ,.rant :art li:nihldll intrrisl rt thrci at•:tn l,r ices
~ nr•t il~ntainini an r, that tt+ hurrha;i. I cn.lrr nt.la. .I• I ita!ir', ,:ht:,,n. lliil,ur a!1 thi ,uro, ,r:urrd ha' Ihi; ~1ltrYCagr tl, hr
A ~tnmi,h.ttrla dui and •:ICahlr I indrr ,trail h.nr •.aa ••id <n;h l,htlt+n acirtrr.l;i tt. ;~ril,r tia the ,air lac transfer. Linder
an,i the pir,l,n tt, aah~•r.I .hi 1'rt+nirn i, tr hi ,.+!t! tr.tn,tirrr.i ri.L:h .1,•rrrmrnt in aartUn~ that the crr.ht l+f cttch percl,n
1, ,.rti,fait.+n~ tt~ I in.l~•r :Ind I}tar the intrri.t L;la,thlr ,+n thi ,tin:, ,rierid ha thi, \t+•rtzacr ;hall hr at cu:h talc :1, Lender
,ha!! reyur,t. If l enllrr ha, acaiec.! Ihi ++htirn a~crlir.,tr pn•cldrd ir• fhi, hara~rlph 17. and if Rl~rrl,acer~, ,uccresar in
i ~ntirr,t ha, rsrcutrJ a aarittrn a„unthtilat aLrcrtnrnt aiirhrrd in aaritin~ h+• 1 in:lir. Lender ;hall relra,c Brrntavcr fmm all
,+hliL:ui,.n, under thi, \inr!gacr :utd the \latr.
If I rndrr rsirci,_', ;urh 1+htil+n t.+ a.:ilrratr. I rn,lrr ,h.lll trail Rt~rnnair nl,tiCe .,f airileratil,n itt aicl•rdance asith
haracrlph !-1 hrril+f Su.h m+trra• ,hail nr.nuir •,1 hrrita! ,•f n,+t h„ than ?tl daa, frl+rn the date Ihi notice is mailed asithin
~.ahih Bl,rrl+aair n;av has the utnt; dr:!a:rd dui I? R,+r:t+~arr i ul. h;la ,uch ,•mt, prn,r t+, she ecpirahtm c+f ,uch period.
F Lindir rn.la. aaithuut further notici :`r .!im:uul .,n lit+rr.:aarr. teal+kr ana rintedir; ^irmalrJ he har.?~raph I`t herrcaf.
tines-('~ttutc,t ('u+f~+~TS Rorrlawrr and I indrr furthir itaven:lnt and acres as follows-
` 18. Acceleration; Kemedies. Except as pro+idrd in paragraph 17 hereof, upon Borrower's breach of am' cotenant or
agreement of Borrower in This Mortgage. including the cotenants to pad when due any sums secured by this Mortgage, Lender
prior to acceleration shall mail notice to Born?wer as provided in paragraph 14 hereof specifying: (1) the breach; (2? the aMion
i required to cure such breach; (31 a date, not less than 30 dais from the d21e the notice is mailed to Borrower, by which such
f breach must be cured: and (41 that failure to cure such breach un or before the dale specified in the notice may result in
1 acceleration of the sums secured b~ Ihis Mortgage, forecbsure by judicial proceeding and sale of the Property. 'rite notice •
I shall further inform Borrower of the right to reinstate aher acceleration and the right to assert in the foreclosure proceeditng
~ the non-existence of a default or arri' other defense of Borrower to acceleration and foreclosure. if the breach is not cured on
or before the date specified in the nMice, (.ender at Lender's option ma} declare all of the sums secured by this Mortgage to fie
~ immediatelt• due and payable without further demand and ma} foreclose this Mortgage by judicial proceeding. [.ender shall
I be entitled to collect in such proceeding all expenses of foreclosrrrrr. including. but not limited to. reasonable attorney's fees.
's and costs of documentary etidence, abstracts and title reports.
~ 19. Borrowers Right to Reinstate. ~l+twithatanding Lender', acl:rlrr,?tuln of the wmc arcured by this Mortgage.
Horrower shall have the right tc• have an) proa:eedmg, hegun hs I ender to eninrce the Mortgage discontinued at any time
3
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~ 318 ~s~~ 108