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HomeMy WebLinkAbout0379I rn.l~r'~ ~~niicn a~;r~rm~n~ ur :~ppli.;ihlc L~~~. li~+rru~~~r ,hpil pa~ ~~1c amoU~U u( .-II m~,~~~aLr imur.~n~~ premiun~c in ~h~ m.~nnrr ~n~vi~lr~i undcr para~raph 2 hcrcol. ;. .,.! t :~n~~ ant~~unh ~li.hur~rd M• 1 cnJcr ~~ur.u:in1 ~~~ thi~ ~-.~r.~~r.~ph 7. ~~uh iatr~r~l iherr~~n. ~hall la•~~~mr addiu~•nal in~lrh~~il~ir.. ~~1 R~~rr~n~~r ~ccurcd M• ~h~. \t~~rtca~r l'nir.. Burn~~~rr an~l I rnJrr .~Lrrr t~• ~~~h~r Irrm~ ~~i pa)~mcnt. wrh :~muuiN..h:~ll Fx ~~a~•ahlr ~i~~~n nt~~i:r (r~~m 1 indcr t~~ B~•rm~~rr r~yur•tine {~:~~ntrnt ~Iicrr.~L anil .It,~ll hr.,r intrrc~t fn~m thr .I.~tr ~~f ~ti.hnr~rmrnt :U thr ~:~tr ~;~~~ahli• fn~m Iim~ t~~ timc ~,n i~ut~tandinc ~~~~,;~r.~l undcr thr \~.tr unlr~. pa)~mcnt of intcrr~t at wrh tatr ~t~~ulJ tn cunlr:ir~• t~~ ap~~li~ablr Li~~. in ti~hirh <<'~nt vi~h am~~unth ~h:~ll Fk:~r inlcrc.t :d Ihr hiehC~l ratC pcrmis~ihl~ untkr ap~li~aMc la~~. !~~,thin~ c~mlained in ~hi, pan~cra~h 7~hall reyuirr 1 cndcr ti~ incur am• r~~xmc or takc .~n~~ artion hrrrundcr. K. In~peNian. 1 cn~icr m:~r m:~kr ~,r.•:~u.c t~ F+c m.~J. rrac~,nahlr ~nt~ir. ~~~,un and in.{x:ti~,n. ~,i thc Pn,Ek~~~•. prn~•idc~t that 1 rndcr .h::ll ti~r B~~rn~~vrr nutirc pri~~r tu an~• w:h intipxr~ii~n ~Fx~if~~ng rr:~~unahlc .•au~i ~hcrrl~~r r~lahd t~~ 1 endc~'c ~nhrr.~ in Ih~ Pm~rt~. 9. ('ondcmnalion. "Thc E•n•rrrd. ~,f am• a~~.~rd ~~r claim for ~I:~ma~r.. Jirc:i „r c~~n.cqucnlial. in r„nnc.•ti:,n ~~•ith ant• c~~ndcmnati~,n ~~r ulhrr ~akinc uf th~ Pro~x~ty. ~,r part thc«~~f. or fi~r a~m•r~:mrr in liru i~f c~mdcmnati~,n. an h~rcM• :i~.igncd an~l .h:~ii r-~ ~a~d ~~, I.cnd~r. In Ihc r~•~nt c~f a trtal ta~.in~ ~.f th~ Pr~•~xn~•. thc pr~,r«dc ~hall t+c :~p~+li~~l t„ thc wm~ ~rrur~d h~• ~hi, \1~~rtea,l'~. ~~ith thr ~~cr.c. if am•. ~aid t~~ Rarr~~~~rr. In the rveM ~~f a parti:+l I:d.in~ ~~f thc Pm~r1~•. unl~~. B~~rr~n~rr and lcndcr .~thcn~i.~ :-grrc in ~critint'. thcrc tihall h~ :~rri~«i a• Ihr ~unt~ .ccure~l h~• thi. ~ti,r~~:~L~ ~nrh rr~~p~~rti~~n ~~f thr prckccd, a~ i~ ryu:~l t~. that pr~~~x•ni~~n -~hich ~hc :~muunt of thr cum~ ,~.urcJ h~ ~hi, ~I~~nti:~tc immrdi:itrl~~ ~~ri~~r t~~ ~hr datc o( t,~king tkarc to th~ fair mark~t valur ~~f thr Pro~xrh immedi:~t.l~• rn~+r to Ihc Jatc ~•f takini. ~~i~h Ihc h.ilanrr ~f thr pnkrcd~ paid t~~ Borro~~•cr. lf thc Pr~~Crt~• ic ;ihand~nc~l h~• B~~rrc~~~~cr. ~~r if. ;dtcr rn~ticr h~~ I rndrr t~~ R~~rr~~.crr that ~hc rnndcmn~~r ~~flcr~ t~ make :~n aw.irJ iv .ctU~ :~ rlaim f~~r Jamagr.. N~~rmwcr f:~ih ~~~ rr.~md 1~• 1 cndrr ~~ithin t/l ,la~. :~ftcr ~hr d;~tr .n~h m~iirc it m:~ilcd. Lrndrr i. authorircd to rollcct and apph~ thr pr~xrcd.. at 1 cnJcr'. uE.ti~-n. ri~hrr tn rc~torati~~n „r rrp:~ir ~f !hc Pro~x n1 ~,r h• thc cum~ .rcurcd h~ thic ~t~~rtgaec. l~nlc+~ I Cn~~r :md Barru~~rr othcrH•i.c ,~grr~ in ~~ritin!~. :~n~ >n~h :~prli~.~ti~~n ~,f rr~krcd. t~~ rrinii~:~l ~h:~ll n~~l ~~tcnd ..r ~x~~~~~,nc thc Jur Jatc u( th~ mi~nthh~ inct:dlmrnlc rrfrrrrd t~~ in ~•:iratr.~~,h~ I anJ '_ hcn~~~f ~~r rh;inir Ihc amuunt of .uch in~tallmcnt~. 10. Rorrower NM Releascd. 1'~trn~i~n <.f thc ~imr f~~r p:icmcM or mnclifir:~ti~~n ~~f am~rti~ati~m ~~f thc wm< <ccurcd h~• 1hi. A1~atLa~r crantcd h~~ I cndcr t~- anr ~ucce«<,r in inlrrc.l .~f B~•rrc~~~cr ,h:~ll ni~t c~~ralr U~ rclcacc. in am~ manncr. thr li:ihiliic .,f thc .~riein:~l Burro~~cr and N~~rmw~cr'. ~urcr„ur. in intcrc.t. Lcndcr ~hall n~~~ Ix rc~~uirril t., a•mmencc ~,r~k~c.linL. a~aimt .urh wr~r~tiar ~+r rcfu+e t~~ r~tcn.l timr f~,r pa~•mcnt c,r c~then~ik m~xlih• am~~rti~ati~~n ~~f thr sums .~rureJ h~• thi~ \lurtgakr h~ rr:~.un uf am~ dcm.~ni! madr h~ thr nricinat Burr~»~rr and R~,rm~cre'c a~c~~~v~r. in intr~c~t_ I1. Forbear•rnce by 1_ender \ot a~~'ai~er. An~ furF•~arancr h~ 1 rndrr in ~~crri~inL :im rieht :~r remrd~• hrrtundrr. i.r ~~th~rw~i~r :~tT~~rdeJ h~~ :ipplic:~hlr la~c. tih.~ll n~~t tx .~ w•:~i~cr ~.t ~~r rreclude Ih~ ~~erci~~ „t am .u:h rieht ~r reme~~•. 'I-hr ~,mcnr~mcm of in+ur:-nrr ~,r ~hc {~:~~~mcn~ of t:~~c. ~~r ~~Ihcr li~m ~~r rharg« b~ 1 rndcr ,hall nc-t Fx~ a.~:u.•cr ~~f I cn~i~•r'; ri~ht t~~ arr~lrratc Ihc m:ituril~• ~~f thc ind~htrdnr~c .r~:urcd h~ thi, ~laneaer. 12. Remedies ('umulati~•c. All rcmc~fic~ pm~ ided m thi. \1~,rts~:~g~ arr di.tinct :~nJ c~nn:dati~~c to am• „chrr riiht ~r rcmr.h un~rr ~hi. ~t~~r!L.~~r ~~r atF~~rJrd h~ I:~~- ~,r ryuit~. .~nJ m:~~ 1x r~crri~r~l c~~nrurrrntl~~. indc{knd~ntl~ ~~r ~i~~:r..i~~~l~. 13. Succetisors •rnd :11tiiRm Buund; Joinl and Se~crrl t.iabilih; ('aplionc. -fhc a•~rnanh and :icr~rmrnt. h~rcin ~~~ntainrJ .hall hin~l. :uid th~ rieht. hcrcundcr ~hall in~nr tu. thr rr.~x~ti~c ~n~~c.~~~r~ and a~~iim rf (.cn~lrr .ind B~~rr~n~cr. ,ubj~ct t~• thr prr~i.ii~n. ~.f ~arakraph !7 hcr~uf. ~~II r~,~•rn:~nh :~nJ :ierrrmcnt~ ~~f B~rn,~~cr tih:~ll Fk j~,~nt :~nd ~c~•rral. Thc r.~~ti~~n. :m~l hcailine+ c.t thc par:~craph. ~.f ~hic ~1~,rti:~s:r :ur f~•r c~•m•cnicncc ~,:~I~• anJ arc n~~t t~, F.r u~cd t~ :nlrrprrt i~r d~finr thc pm~iei~~m hcre~[. 14. ~otice. E~rcpt f~~~ ant~ noti~~ rcyuired ~m.lcr ar~,lic:~hlr I:~~+ t~~ h~ eivrn in an~~thcr manncr_ f:~1 am• n~~ticc t~ li~,rruwrr pr„vidcJ f~,r in thi, ~torlgacc shall Fk t~i~•rn h~• m:~ilinL .u,h n~,t~cr h~ r~rtificd meil aJdr~~.rd tu Bc~rnn~~r at thr Pr„~xm• :\.Idre., ~~r at wrh ~~thcr aJdre., a. B~~rn,~~rr m:~~ Jr.~~n:~tn c~ rn•ti~r n~ 1 cnJrr a~ rru~•i~lc~l hrrcin. anil Ihl :im n~~ticr 1~~ Lrn~lrr .h.~li Fx ci~rn h~ crrlitir~l mail. r~turn r~r~i~~t rryur.tr.l t~, 1 rn~kr'. ad~lrc~~ s~atrd hcrcin ~r to ,uch ~,Ihcr addr«ti .i~ I.rnd~r ma~ d~~ignatr b~ n~~ti;~ t~~ N~~rr~~~~cr a, F•r.~~iJr.i hrr~tn. :~n~ rn.tii~ pn~~•idc.l f~,r in tfii: ~1~~rlgagr ~h:Jl }*r dremrJ t~, hat~e ~xcn civ~n ~t~ B~rr~n~ir ~~r 1 rn:1.•r ~.~hrn ;~i~in in th~ mann~r il~~itrt:~I~d h~rein. 15. t'nifurm ~1ort~aKc: Governink I.•rN: Se~rrabilih. fh~. h•rm ~~t m~~rt~z:~~_r •,~,mhinr~ unifrrn~ ~.~~•enant. f~~r nati~,nal lNl' :I(ll~ I1~~Il'UIl1~UC111 l~~\l'IT:IITI• .~ith Iimilr~~ \',1llati~~n. h~ I~Ifl~i~!:!i~~fl 1~~ ~~+fi~[Ilflll' :1 IIII1~1lryll ~~.nrilc inVr~unrnt l'l1CLfllll r~:d pm~xrt~. ~Ihi. ~1i~rlg:~L~ ~h:~ll tr~ L~~~rrned ht thr I.~H ~~f thr iuri.~ii~lum in ~~hi~h thr Pm~xrl~- i. I~~::~ICd. In th~ r~~im th:~t am pnwi~i.~t: nr cL•~u~~ ~~f thi. ~ti~rl!s:r~r rr th~ \~~tr ;~~n11i~t. ~~i~h .~prlir:~hl~ I:~ti+. ~n.h r„nflirt .h:~ll n~t atTecl ~,thrr ~r~,~i.i~,m uf thi~ ~1c~rt~~tir ~~r Ih~ \i~tr ~~hi.ti ~.in h~ _i~cn il~r.t ~~i!h~nit Ihc c~adli~lini ~+n~~~i.i~.n. :inJ to thic rnd thr rn~~i.i~~n. ~.I ihr ~1i~rtzaLr :~nil thr \~~Ir .~rr J«I.~rrcl t~, hr .r~•rr.ihk 16. Born~wer's ('op~. Borr„~~r~ .h.~ll hr fnrn~.h~,l .~ ~~~ntrnnrd r~~~~~ ~,t ~h~ \i~~r .in.l ~~f thi~ ~1~~rtc:+er :it thc timc ~~f c~~cution ~~r n(trr rrr~uJaii~m hrrr~~f. 17. Tr•rmfcr oi thc Pmpeti~: :~~~umplion. If :~II ~~r ;~n~ {~.~n ~~t ihc Pr~~~rt~• ur an intcrc~t th~rcin i~ .~~Id ~~r trancfcrred h~• R~xr~~~~cr ~~rth~,ut I.~ndrr'~ pri~~r arittr;i ~umrn!. r~:lu~lini ~.ii th~ rr~ati~~n uf a lirn ~.r cnrnmhranir ~uFx~r~linat~ to thi, ~t~~n~air. Ihl thc crrati~.n ~~f a ~ur:ha.~ nu~nr~ .r~urit~ ~n~rrc.t f~~r h~~u.ch~d~l applianc«. Irl a tran.fcr h~• devisc. Jc.~cnt ~~n c~ iq-~ratiiin ~~f la~~ up~•n Ihr ~tr:~~h ~~t .~ i~,~nt trnant ~~r ~~t~ thr ~rant ~,1 am Ir.~~rh~~ld intcrc~t ~•f thrr~ ~~rar~ or letis niN ront:iining : n ~~p1i~•n t~+ ~urch:~~r. I rn~lrr m.~~. .~t 1 rnJrr'. ~~~,ti„n. drrl:ur :dl th~ tium, «~urcd hc this ~Tt~~t~:liC 1~~ bc ~riimrdi:drlc duc :~nd pa)•:~Me. ! rndrr .h:ill h:~~r ~..~,~rd .n:h ~~rti„n t., ac:cler:~t~ if. ~ri~.r t., the ~:~Ie ~,r trancfer. I.en~er ,ut.1 Iht pcn~~n t~, ~+h~,nt thc Pr~~ri•rl~ i. 1~~ F-c .rl~) ~~r lr.~n~l~rr~'d ~~•.uh .i,_r~rmcnt in wntinc th:~I thr ~r~ilii ~~f .urh pcr~~,n i. s:.ticfa~•tnn tn 1 rmirr :md thet thr inlrrr.~ ~a~aMc ~•n thr .um. .r.•urcd h~ tni. ~1~,n~:~ec ~hall hc at aurh ratc ac Lcnder .h:~ll rCyuc~I. If 1 ~c~Jcr h:n w~ai~r~l thr ~~~ti~~n t~~ a:~r(cr.~Ir prrn•id~J in thi. ~:u:i~r.~ph 17. a~tJ i( B~~rrowcr'ti ~uccCtitor in ,ntr~ect ha. e~ecuted a wri~ten :isti~imph~•n :1_l'fl'l'llll'flI :l~llE~1l'lI in ~~ritine h~• 1 cn~ler. 1~n~ler chall relt:~.e Rorrower from all ~~hLeatii.nti unJcr thi~ ~t~•rtcaLC and Ihc \i~tc. If I cndcr c~~rci~r~ ~urh ~~p~~rn t~~ :~r~rlrr.~tr. I rn~l~r .h.~ll mail B~•rnn+rr n~~ticc „f arrclcrati~.n in ara•rdancc with {~aragrarh I-3 hcrraf. Such nol~cr .h:~ll ~r~~vidc a~ri~al ~~f n~~t Irc~ Ihai~ 3~1 ~lac, fmm thc datc Ihc noticc ic mailcd w~ithin ~.~hirh 13~~rr~~wer ma~ ~+a~ thc wm~ dc:L~rr.l ~litr. II B~~rn•~~rr t.ul~ t~. ~a~ ~u~h .nm. pri~,r tc~ Ihc ~Yrir.~lic~~ ~~f wrh pcris.~d. I_rn~icr m:~c. Hithc~ut fiirthrr not~r< <~r clrmand ~~n If~+rru~rrr. u~~~.{,r :~m ~rmrdicc Exrmutc;t h~~ raragraph IR hcrcof. tiox-l:~~tok~t CovFV~xTti. B~rrowcr and I~ndcr furthcr rn~•cnant and agrcc as folli~ws: IS. Acceleration; Remedies. Fxcept as pro~ided in paraRraph 1'f hereof. upon Borrow•er's brrach of any co~•enant or aRreement of Bono~+•er in this ~iort~a~e. includin~ the co.enant~ to pa~• when due ~n~• sums secured by this ~lorfga~e, I.ender prior to acceleration shall mail nntice to Borrower ac pro~•ided in paraRraph 14 hereof cpecifyin~: (1) the brcach; (2) the aMion required to cure such breach; (3) a date. not less than 30 da~•c from the dale the notice is mailed fo Borrower, by which such breach must be cured: and (4) that failurc to cure cuch breach on or before the date specified in Ihe notice may result in acceleration of the sums secured b} Ihis ~tort~aRe. forectocure b~~ judjcial proceedin~ and sale of the Property. 71~e notice shall further inform Borrower of the ri~;ht to reinstate after acceleration and the riRht lo assert in the foreclosure proceedinR Ihe non-existence of a default or an~• other defence of Borrow•er to acceleration and foreclosure. If the breach ic not cnnd on or before the date speci6ed in the notice. I.ender at Ixnder c option ma~ declare ~II of the sums secured by this Mortga~e to be immediately due and payable N~ithout furlher demand and may foreclose Ihis Mort~a~e by judicial proctedin~. I.ender shall be entitled to co11eM In such proceedin~ all expenses of foreclosure. including, but nof limited to, reasonab{e attorney's fees. and costs of docnmentary evidence. alxtracts and title reporis. • , 19. Borrower'a RiRht to Reinstate. Notwith~tanding 1_ender'ti acceleration of the sums ucureJ by this Mortgage. Borrower shall have the right to have am prcxccding~ txrgun h~~ I.cndcr ti~ cnf~~rcc this Mortgage diuontinucd at any time B~tOK 345 NAGE 3?~ ~._,~~ --_~.~ ~