HomeMy WebLinkAbout1390 1.cndrr's written agrtrmrnt ur appGtah!r laa. liurruwt•r shall pay the amount of all murtKage imurantr premiums in the
manner provided under paragraph 2 hrrruf.
Any amounts disbursed by l.rndrr pursuant to this pat:rf;raph 7, -with intcrc;r thrreun, shall bt•tumc ad.Iitiunal
indrbnlrnrss of liorrowct srtun'd h}• this \lorthagr. lrnless Itorruwrr and Lcndrr ague to other terms of paymrrt, sut6
amounts shall he p.r},able upon notice, from Lt•ndtr to Burrower rtyucstin}; paymt•nt thrrcof, and shall hear interest from the
d.+rc of tiisbursemrnt at the cart pay.rhlr from timt• to tinlr on outstandinX j+rintipat under the Nutt unirss payment of
interest at sorb rate wuulJ he contrary to aj:plitabtr latt, in which cscnt such amounts s!ull hear interest at the 6i);hrst rate
pt•rmi„ihlr under appticahlr (acv. Nottrinx tuntaint•d in this j•ar.+guj,h 'dull rrtjuirr Lender to incur an}' csprn,r or t.tl:r
an} action hrtt•undcr.
ti. Insprrtiun. 1.cntler ma}• make of taus to hr ntadc rt•asunahlt• cntnrs upon ,nl inspections of nc~• pn:i:rn}', prusi.lyd
that 1 ender shall Bite Bur,ov,'c•r notice j+riur to .Iny lath insptxtil:n•spc`it}its; rra,.,nab!. t.wir thcrrfur rrlatrd :u l.rn.icr''
intt•rest in tht• Pruprrt}•. j + ' ^ ;
9. (:undrmnatinn. "1'he protrra, of an}• awud or claim fur damages, dirrtt or tonx•yurntial, in connection with ani•
tuude•mnation or uthrr taking t,f the !'rope•r}, ur par*. thereof, ur fur cuavc'yamt• in lic:l of tundcmnatiun, arc hrmh} a~ti1{nri?
and shall br p.tid to Lcndrr. }
In the rsrnt ut a total t_tking of the Prupt•tt}•, the pttxreds shall he applir.t to t!,c ,ums srr.:ICJ b}' thi, \Surtg.,•;;r,
with tht• r xcrss, if an}, paid ti, Burn,wcr. In the runt of a partial tal:int; u! tht Proper,}•, unless (iorruwrr anti .l.t-ndcr 4
uthenci,e• af;rt•c iu trritink, tht:e shall hr j,j'lit•<1 to the sums secured by t?:is \turtg.,gc• such proportion of the prutet•.1,
as is equal to that proportion which the .unnunt of the sums secured by this \tutt~•agr in?metliatrl}• prur to the dart of
t.ri:iny; bran to the fair market valor of the }'r+>i t•rty imr.+e•diatrl}• print t„ the dat of t~:kinl;, with the ba;.rncr of the procrt•.?s
p.lid to I±orr.~tt•cr.
tf the Pruprr}• i, .rhandunrd b} Burn+arr, or if, aftt•r notice b} Lc•r.t?rr to li<:rn,ttrr that the tund~n:nur offrn to make
J11 award ur settle a Hair.) for tlarn.,};cs, lit,rrawcr fail, to rc,ltond to Itndrr within 3!t I,l}, after tt?e dart suite noticc• is
rtai;rd. !.cn.!t•r is authori:et? ro tullett :InJ aj'pl}• t!!c j,n,trrd,, :rt Lc•r„!rr s ui'tiun, tither to n•sh:r.aiur: r)r repa?r of the
1'ruj'rr:} ur t:, the sums srcurrd by chi, \furtg.lt;t•- -
t~r.!r,s Lrnt?rr anti liucruw'rr uthrn,i,c a};rrc in w•tuinX, any such appliteriuri of pnxrt-ds to pnnclj'al sh..ll not extend
ur j•t„ti,unc the t?uc date of the month(}• in,t_r!;ntruts refcrrt•d to in ~ araKraphs i and 3 hrrruf er tt:ange the amount of
wch installments.
In. liorrv»t c•r \ut Rrlrasrd. l:xttnsiun of the time for payment or mutliiitation of amorti~ ~tiuu of the sums sr: urrd
,y this ~it,rt);arr };ranted. 't)y Lt•ndrr to an}• suctessur in interest of tiurru:err shall nut oprr.lfr to re!ra>e, in :tny ntannrr,
uu- iiahiht}• of the original Burrower 3mI Bwruwrr's suitc•s,urs in interest. Lender shall nut bt required to commentr
i~it.ctcdin5c aKainst suit: successor or rr(use to extent? time fur payment or otherwise maditr at:urtlzatu,n of the ,~.nns
,eturt•d h+~ thi< ~1ort,;a~. b} rt•atun of an}• dc:r: nd made 1 ; rite ori~;ir,.a Iiurn,arr and Burr,v.rr i >uttc•,urs in intc:c•.t.
11. Furhr.irantc h}• 1_rndrr Not a ~X'.rierr. :gin} iorhrarantc h}• Lcndrr in rxrrci,inp; ans t_ght or rcmc.ly herrrrt Ire, ur
.~thrrwlsr affunird h}' applicable last, shall nut he a waiter ul or prr.!~:t?e the rxercisr of an}• such ri_1lt t.r rrmc i
i hr Ptntart'U)t'nt of :nsur:ntt• ur the pat•r;u'nt of taxes ur other liens or thar~;es by I_c•n;?er shall nu: bc• a waltt•r ut Lcnde•t's ~
-:~ht t.: ae.c!clatc the c: ituritti' :rf tl:r ittdthtr.ineu set urcl h}• chi, ~1ort~;.ie.c.
,
Frntcdirs (:unrul.uit-r.:.II Ct:;]r.iu•. ;'rusl.:r.i lu '.i?i> \tu::i;ap;t' ..:c distinct and cur.:.u.ai~c to .tn ut!rcr n:; ur
;r•:;<<?• un,.., r:i, Mori;-_ 't,r stfort?et?'by Lla ~t,r rtiuiti, .lti a': b: exrrtis:,I cum::-rent!}•, lr.irj'rr.tlrnt~, ur ,ht. - ~l:rit t
13. tiuccrs>ors and Assigns Bound; l::int : nd ~rt•rral Liabilite; Captions. The u,st•a+nh r,-t1 ti;rcc•r,:cnt; he;rn
:inct! shat! butd, .t::d the r+g?as hc-rt•uut?cr slr..!1 it?urc tu, the rrsjuctive sartiesst;:s anti assigns of Lrndct and Borrut.ir. i
;I'tti tc, .the j•n•r:s::: s „f r.u± :r.,i'lr i' lnat-,L ail .,rnanr, and s:~rrrments u( itiorruwrr ,h+!1 hc• , ,int :nc! ,r:t r..!
, si t::tn, an.l I:c; !in;;, t~f the +:;.*aF':,, tl:ts \lt rr a t arc for tuntcr,:rntc unit' and arc not to i'r ..cl
:nt:r,~rct t !int ttlc j , ~.:,,:,ns hcreu:
i. time. Exctt r tt tr?: ~tttti rt ~uirrd r:t?rt aitj'ilcahlr !ate to Fc i;::cn :r: another n?anncr, (.i) any Rt~r:::' r ,
i.t~lrtt,r: nr.,vitlr,? f+,r r!:i> `,tortg.;,;e st...!! he k.t•en by ...i'it::; ,ath notl:r ht tcrut.rd mail add:cssed u, Borotst: .
!'t t'c~: :1. tit'.;: ur ,:a i. utter: _.._rc„ a~ 1'„tn,tccr ma., t{csi}r•atr by ntaicr t„ L:adrr t< j n+sided ht:_in, t!
i zr ~t _ r 1 •n,t-. .,t cr:t..irl n_...n rem rcy^c,ud, tt: Lcndrr•; _a.ire,; start! t;rr~in .
ott:,cr ae,irc...,, i.cmirr m,+t tt h}• nutii~ to }~:rru-.tr a, t~rusi:it,! hrnin. Any u,,ticr t:r•:i.lc.i 1~~: :n ;L~,
.:Iutt~.r_+' ,i;::! ht de;r:c' t.. L.:te i:e_ ::'t.icc•n ls.,tn,wrr .,r Lender tt-hen ;tiiecn in 'hc r.;.:nnrr dui:,natc.? I:~•rein.
i5. l•nin,rm ~turtgagr, Guy rrr.in}; Last'; tier cr.rhilit}-. Thi, form c.f ;::urh;a~r <<; tt!r,::rs unir:rrn tut u.,ct, r. , n ~eir~n.+!
esc :nd r?un :.ni',:rm tu-:t-na:•:t~ with lin:rtd vari.ctiuns ivt ':it.-iun to tun,utute ....:;iCm scturit'; ir:-trt.:n_n: .•:cr.:?t;
tall j~r•;i'trtt. 'tit: .'•I.:r:<'rt• s!:?ii hr t•?~crrn.! by t!:r 1aw ut:thr ~t:ti,d:in~,n in '.:l;i~h the !'rni:cztr I. •.-anti Ln t':c
! _.t'at ii.::C alai 1?i l,l n u: tL..: St' Ut !?:U ~tnftR tit ire the ~t,Ie !unt!tt i, with .ii-.fal: ate!.. !t'- ?i;i1: .U ,.~lir 't li! ait':ii
! - ~ i ~ .t j,fUt-ItliY,, .i t:;1 .
~ahrc j'rnar.~ns of is \.::rtr.:•~c t:r tnc \otc whi,h .:n Ll•:en cttt•~.t wlthota rht• ::t~itn::,
ti:c i'r~•c.,i,,ns r,t the s•1„rtr~+ t .nt': Ef,r \t c a:t dt :rt t u ht: ~cscraE.it•
t t,. !iUrrl,tt tr ~ (.Upt~. .r,n.. tt r: , .~t 1. ,!S ..l .i tt! :t' t ~ tl, r. `t:it Ut rU:, r\i~~i: .t' _
, :sC' t l: (,C atrCr CC'. ~.tr,lat::.n t!tI:" ' a
~ 1't ~ frtn,rtr the Pn,prrtt. 1„un:pn,.l: , ..t .~n; l at: ut t!,t 1'rt,ju•rty ur ..n ,r.:tr;,r t!,::,:: i + tart c,+:
.,v l::;t _a t::tLt.ut Lcn!cr's j~rr,: to tt-)~. t.rtl•:dln,l; (a) the tn:u:,n ut i:cr or cntum-r ,tc +n-tiln. _ i
~ r \f: ~l:c. ('t~) t't.c tr:t•r, rt ut a iur:it., ^l,•ncl sct:antt' rntrtt,t cur hno,cf?c;',i a1}:li,tn:c'•. (t) •:n t, t•~ .':-::~c•,
t ..t etl( .,r 1'L nl,C ra l:f,n ,%t ll:t tr^r. !l the t1e.iT11 l.`} lrlni trn.i tit :rr (tt~ r!^' ~rinr. +~t .kni' a,r!.t)Id Inte:C,t ~:t trlltl : t,C ICSi
:?r,E t:•t'. +in : t }~:it n t•. 1, .r,i, 1, ! rn:!c•r mat' +r lent?c r s v..t:un. t i rr al! tii+ s::n,c .c:utt•,? la ttu, \t rte ii: l,c•
t rmn?rt!iat 1. .?uc ar.d r. c r:~!•_ Le•l:~!tr ,!,,,ll h ,tt. v.:.lsrd .a..i uptu,n nr r. rieratc• lf, 1'nc:r to t!u sa!t• u: a ..ttt, ?crater- j'
ant? the ;u~rst,n to whom tl:t i'n)pert}' is to he ,oltl ur tea,,^.sterrrl era:!: atircemt•nt in •srltut); that the trcd:t of :a.h j r-s~~n 2
i; ,~t:'`.l:turi- to Lcndrr .,nd that tht• interest ia;.:!t!e +•n the s:;ms srt:.tc.! b}• this \tt+rtf;afe sh_rll he at s:,eh rate ss Lt t.!r-
r~ { e !f Lender has wan rd the uFnt)n tt, a, tcleratc pct+tide~l In tf l~ j:ar.r~;raL,h 1', and li ;rtv•.~:tr•s s;::tt, < r :n
t•tt5t t,as rxrtutcu a •~;attn at;.:mj•nus? .rgrrcrrcnt atcrj,trd .n wtuln~, ! i- Lerdcr. Lcndrr shall rclt;sr li: rrr)Htt fr.:. .:II
ul,,,}atu,ns under chi: yturt,tia.,t and the \otc
If Lcntier c•xt:tisrs su.h uptit,r. to auele•:ate, Lender shall mail li<trnnsrr nutitr of setrIcra:iun in acturdantr arch
1 i rragraj:h i-i here+,f. ~:,tl• n•aitc •ha11 }•r.,t•idc .l j,ttu:d of nut ir,s th.tn y, days from t!:c daft the rutut r.i.tiled witltiri
~ wi ii:,:rt,•att r,.~r t,a} cue , r.a dttlart•d due. if li •:rt+wer fails ti, p;i' ;nth >uatt prior to the cxpu~tiun .,r sorb Feriua,
l.t.::Icr m.,:, tcith.,;,t turtl:er t,+:ucc• ur .!c:nat.t? un Ii;,r:uwrr, Imukr +nv rcmcc!st. j•c•r.:;,ttc•d b}. i~..ra~ui t+ hrrtt,t.
.`::r, l'~, :tn.st (r~'.i` :~.7, B;;rruwtr and Ltn?rr further tuvrnant a~,d a};rre :u fall+:•as
4
I K. Atcrlcratinn; Remedies. Except as pros idrd in para;raph P ht•reuf• upon Borrow'er's hrrarh of am-t-ut rnanr „r =
ar;rt•rmrnt of Brrrruwer in t!:i, ~1urt};a};r, inclr<:!int; thr.ucrnant• to pav t+hen due an~• sum, srturcd hs this ~turt};agr. Lentlrr
prior to actetrratiun ,!:.tll m.til notice v, Isorro,t tr a, pro: idrd in par:ry;uph i f hrrruf spreifyiog: (i) the hrtai h; {21 t hr at t icn,
! required to cure ultit breath: {ij a date, nat Ir„ (has, .!I days fnnlr the date the notice is mailed u, Burrutcrr, ht •.thitl: ,nth
r:,rcath r.: t,~t he toted: anti (t) (flat failure to curt note brcat i? un ur ht•furc the dart ,puifird in tht aoti;r m.n n,u!t u)
-,'lrraut,n of tttc ,u n;, ,c.utr~l ht r!?i, lturztiagt, it.rr, lu,urc by µxlit,.i! prutcrdin}; at,.? Talc of t!ir !'n,j,rrtc. "l hr r.:titr
a a~.:lt fur: , r iniurr?, fiurr.,« c r of the ritiht cu Itin,ta:t ..ru•r axteler.::iul:.tnd tin rrght to assert in tLr turctl(»tuc i+:c,crc,!in~
6 : he n ~..-cst,tt ^r•• .('.:nit r,r .+nc otter r ~!eten,r „i ;':ore<;ti.cr n, attt!tra;iun r,tl fo:it lc„::rt. If the l,rrach i, nut erne.! un
t,r ;the ! . 'ci l td :u c n,•t,.t:. 1.. n..!t•r at i .:i lu'~ „t,u.,n r.tat t?~tlart .tl~ ,r :ht v.n:, ,cturctl bt chi, ~tort~;.,};r w!'r
tmn,r.! trlc •t .u~ 1 i aca!~!r a rth`,~lt :u:thtr Itl.:an+I and In.rs t+,rt.!u,c t!:i, \i : r.tgr ht ;t:,{it tai i,tt::c•t•drn};. I ent?r* all
1'•c cntitt.t !tut i l in i? ! r >c tit t, t . ",t, + ! -tti+,.,rc, rn,' tlrn};. ! ! t 1. :t lunltt.s t.,, r_ +,uuahlc loonier , ic;,•
.i nt! tn,h c ,tug°•:. rtf t I r 1),t -t ~ i ts,a' rt•pur:,. 7 [ • `
1'/. {i~,rru;: rr' }tt: • t., n:: ,t,t.ttt. .~~~~a., .r,.:r, ! c r,., t' i 1, .•.l_r.
11: i,. ..r tl .l: .4.1[ , .i !t .'t..,!lt' t .r. t:.._ rt. rirt V.•. •tri, `iUtt~i~t tii,t ,nL('`,... dt .:fftt
8rm(~ ~u6f
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