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HomeMy WebLinkAbout2561. ~ 1 rn.kr'~ ~.~nncn .~~r~rm~nt ur :~PPIi..~hl~ I.~~~. li~~rrut~~~ .h:iil p:~~ Ihr .um~u~u .~f ,~II murl~aLr in.ur.~n:~ prrmium. ~n Ih~ m.uin~r pr,~~~i~IrJ unJ~r pa~a~raph 3 hcr~ul. ~~m am~~unh Ji~hursrd M' I ~mlrr ~~ui.uant ~~~ thi~ {-:ir.~~r.irh ?. H~th iu~~•rr~l Ihrrr~~n. ~h:~il F-«umr additi~aial in.irh~r~lnr.. ~~t It~,~r~~~~rr ~rci~r~d h~• ~hi~ ~1~-nLa~~ 1'nlc., B~~rr.~~~rr .~n.! ( rn.irt .~_~rcr t~~ nihri Icrm. „1 ~~:~~mrnt. .u~h arn~amt..h.~ll I.r {•a~;~hlr u~ti~n nh~i:r frrm 1 rn~lrr t~• It~~rr~~~~rr ir.{ur.~ine ~~.~~mrnl th~tr~~f. :u~~! .h.~ll Iti:~r intrr~~t (rrm Ihr Jat< <.( ~li.hui.rmrnt :N thi [:~tr ~:~~.~hl~• fr.•m timr h~ t~mr ~~n ~a~t.l:~ntline ~nnii~:~) undcr thr \~~tr unlr.. pa~•ment of inlcrr.~ a~ ,u;h r.n.• ~~nul~l hr r„n~rar~ t~~ :~p~,li~ahli L~.~. ~n ~.hi:h rvcnt .uch :~m„untc .h:ill F.~ar intcrr~t :~t thr hiehr~t rat~ ~xrn~ia~Mr undrr :~~~~I~~ahlr la~~. ?~~~thin~ crni.~inc~l ir ~hi. p.ira~raph 7 ~h~ll rryu~rr 1~ndrr a~ incur am~ ~~~xn+c ~r takc .~ny artion hrrcundcr. R. Impccfion. I~n~lcr ma~~ m.~{.r ~•r r.~u.c t~ hc m;~Ja rr:l~i~nahlc cn~rir. u~,.~n :-nd im~.~~ti~~n. ~,1 thc Pru~rl~•. pmciJed 1h.~t 1 cndcr ~hall ~i~c A~~rruNrr n~~hr~ pri~~r t~~ :~m .u:h ~m~x~U~~n ~~xcif~~ng rr:~~~mahlr ~:ui.r Ihrrrl~~r rcl:~lyd t~~ 1 cndcr'~ intrr~~t in Ihr Pn~~xrt~. 9. Condemnatiua Thc rr~~«cd. uf :im• :n~.~rd ~a ~laim fi~r d:imae~.. dir~c~ ~,r r~a~.cyucnti:~l. in r~~nncrti~•it ~cilh :~n~~ r~~ndrmnati„n rr ~~thrr t:~kinc i,f ~h~ Pru~rly..~r part thcrc~~f. ~•r f~r u~m•c~;~nrc in licu ~~t i~~nd~mn.ihun. :ur hrrc-,~• a~~iLncd an.l ,h:~ll F.r paid t~~ 1 cndcr. ~ . . In Ihe ~~~~nt ~~f a trtal L~{.in~ af ~hr Pr~•(-~rl)'. IhC ~+r~+:re~ls ~hall t-~ .~~~i~~,~ !~~ th~ .unt~ ~e:urrd h~• Ihi~ \1i~rtC:~ee- tiith th. r~rr~c. if :mr. ~:~id t~~ Rorr~~«rr. In the e~•em ~,f a p:~rtial tal,in~ „f thr Pr~ncm•. nnlr.~ R~•rr~~~~rr :~nd Lenilcr ~•iherHi.r agrc~ in writin~.~. ~herr chall Fx applied ta thr .um~ .«~~rr~l h~ ~hi. \1~~rtLa~~ ~u~h ~n,purli~~n ~•f ~hc pn-~eedc ac i~ ryu.~l t~~ Ihat pn,~~ni~~n ~~hich Ih~ am„unt a( th~ sum. .r:urcd h~ thi. \1rr1~.iL~ inzn~~di:~trl~ ~,ri~~r ~~, thr datc oi takin~; tk.u~ to thc fair markrt valur ~-f thr Pro~rt> immc.ii:~trl~ pri~~r t~• thr .L~tc ~~f takin~. ~~ith thr hal:~nrc ~~f thr pnkec~f~ paid t~, Rorm~~•cr. ~ lf Ihc PmpCrl) ic :~h:~nd~~nrd h~ Bnrn,~~~r. ~~r if. .~flcr n~~ti~r h~• 1 rndrr t~~ R„rr~~~~~r that thr r~,ndcmn~u ~•IT~rc t~ make an :~ti.~rJ ~~r ~ctl1~ a claim f~~r dama~r.. 13~~rn~w•~r fail. t~~ r~.~,i~il t~~ I cnd~r ~~ithin ZIl ,1:~~. :~ftcr thr il.~t~ wch n~~tire ic m:ulcd. 1_rndcr i. authori~~J to a-)kct and apph• thr pnxrrdc. at Lrndcr'~ ~.rti~.n. cithcr tc• rectaration „r rcp:~ir of thc Pro~xn} ~~r t~~ ~hc wm..~currd h~- thi. ~torteacc. l'nl~,. 1 en~lrr and Borr~n~rr othcr~ri.~ agr~c in ~~ritin_•. am .u:h arrr,-.~f~,,~, ~•f pnkccd~ t~~ princi~,~l .haU nn1 e~tcnd or ~,.t{n,nr thc Jur ~I:itc ~•f thc mi•nthl~ insl:~llmrnt. rc(crr«I t~~ in E,:~r.~~r:~ph. 1:~nJ ' hcrr~•f ~~r ihan~_~ thc :im~~unt ~f ~uch in,~allmcnt~. ~ - 10. Borrower \'ol Rele~~ed. t=~tcneion nf thc tim~ f~~r ~,~~ment ~.r m~Klifir:~ti~~n i.f am~~rtiiatii.n ~~f thr ~um~ ~c:urcd h~• thn ~t~~rtra~r g~ant~d h~• 1 cn~icr 1~~ am~ w~cc~~ur in intrrr.t of R~~rn.~cr ,h:ell nnt a~xratr ti~ rcka~r. in an} manncr. Ihr liahilit~ ~,i thi urieinal B~~rr~.~~rr and Borr~~w~r'. .u::~...~r. in imcrc.l ! cndcr ~hall n~~t Fk rcy~~irr~1 t~• c~•mmcncc ~a~krr.lini~ ac;~imt .u~h wrrr~.~,r i.r rctu+c t~, r~trn~l tunr G,r pa~~mrnt ;v i.thcn.itir m~K1ih• am~•rtiiati„n „( thc sinut .c:urcd hr thi. ;11~~rt~ac~ h~ m:~u~n ~.f :im~dcm.uid madr M 1hc ~~rieinal Borr~~~~rr :~nd R~•rn~~~~rr'c cu~cr.~~~r. in intcrcct. il. Forbearancc b~ I.endcr \ut a N'ai~er. -~m f~~rF+~ar:~ncr t.~ 1 rndrr in ~~rr.i.i~~i :im rizht nr r~mrd~~ hrrrnnd~r. i~r rshrrw•i.r ;~fT~~rd~ti) h~ appli.;ihle laa~_ ~h:~ll n~~t tk a w•;~i~~r rt ~+r prccludc th~ ~~crci~c ~~f am ~u:h rizht ~~r rrmed~•. Thr ~,rc~nrrmrnt of incurancc ~,r thc p:~~•m~nt uf t:~~r. rr ~~th~r Icrn..~r charzr~ h~ 1~nJrr .h:~ll n~.t 1x :~ ti~.~i~~rr ~~( I cn.lrr'ti ri~ht t~~ acrrlcratc thc matu~ii~-..f thc indChi~cl4t~c ti_urid ht thi. \1i,rtLacc_ 12. Remedie~ ('umulali~•e. 111 rcmr~lie. rr~•~ iiird ~n thi, \t~~rte:i~e :~rr i!i.tinct :u~.1 cuinul:Ni~•r 1~~ :~m ,~thrr ri~4it ~,r remr~l~ undrr thi. ~1~~r~~~.~~r ~+r alF~~rilr~l h~~ law ~~r ~yu~t~. .~nJ m:~~ hr ~~rrr:u.l .~m~urrrnth•. inJr~xndcntl. .,t ,n~;r.,i~•~I~ 13. Succe~son and A~+iRnc Buund: Joinl and Sr~eral I.i•rbilih: ('apliom. "Ihr a~~enantc anJ a;:r~rm~nt, h~rein c~~ntainc~! tih:~ll hin~l. :ind th~ ri~ht. h~r~undcr ~h:dl inurr t~~. th~ r«Ek~tivc ~uc~~..~~r~ ~nd :iti~i~n~ ~~f t rn~l~~ .~nd B~~rr~,~~er. tiuhjc~l t~> >hc pr~~~i.i.,~. ~~f raragr:~ph 17 hrrcc,f :111 i~~~~n.~nt. :~nJ :~crc~mrnh of H~~rnn+ir ~h:~ll hr t,•~~~t end ~_~~cr:~l. Thc ra~+ti~~n. anJ h~ailinL. ~.f thr paracraph. ~~f ~hi~ \1~•rli.ig~ ~rr f~,r runvrnicnrr ~•nh~ :~nJ :~r~ ~u~t t~• !k ri~cd to ~ntrr~rrt ur dcfinr thc ~-m~~~i~•m hereof. 14. \nticc. E~~c~t f~~r am• noti.c ~~yuir~d un~icr :,p~.li~.~hl~ la~~ t~~ h~ Li~-~n in :~n~t!hrr manncr. f;t- ~ne n~~ticc to f;~~rn~~~cr pr~.~~JrJ t~~r m Ihi~ ~ti~rtea~c ~h:dl Fk gi~rn h~ m:ulin~ .urh rn,h~~ h~ :~rt~fird m:iil :~Jd:~~.rd 1~~ Rixr~•u~r at th~ Pri~Exrt~ A~Wre.~ ~~r at wch „thrr addre~~ a~ B~,rr:,~~rr m,~~ ~I~.~en.itr h~ rs~,ti.~ t~~ 1 en~lrr :ic rr~,~~i~IrJ hcrrin. :md Ihl ant n~~ti~~ t~~ 1 rn~l~r .h.~ll Fk Li~~n h~ cer~~fie~l nt.ul. rrturri trrr~~~t r~yur.t~~l. t~~ I enJcr. :id.lrr.~ ~t:~~ed hrrrin ~~r to •u~h ~~~hrr addr~...~~ (rnJrr m:~~ drei~natr h~ n~~ti:r t~~ Ii~~rn~urr ac ~~n,t~J~.t h~rr~n :~m n~~~i:r ~+r,~~idrJ f~~r in thi~ ~1~~ne:~e~ ,hall t.i Jccm~d t~• h:~~r h~cn t~~~~n t~~ Kc.rn~«<r .,r I~r.drr ;.hrn t~~rn in Ihr m:-nnrr .1t.i~n:,tcd hrrrin. 1;. l'nifurm ~lortkaKc: Go~ernin~ 1.•r~~: Se~cr•rbilih. I+~~. t,,~m „t m„rtg:r_~ ;~,mhfnr~ nnif~~rm i~~~•tn:~nt. f~~r i~.~ti~~nal U\l S{l~~ f1~~(1-UI111~~ff11 !•~~\IIT.IIIf• NIIFI ~IfI11~Ca~ \:tlCt~ilHl• f~\ ~111n.}I:tl.~l1 1~+ i~~Il~(IIUII' :1 Ulllf~~flll .~~iint~~ in~tn!mrnt r„~•crin~ rral pm~xrt~. Thi, ~I~~rtL:~~r ~h.~ll hr eu«rned h~ thr la~~ ~~f thr iuri.,l:,ti,,n :n ;.hi~h the r~„~<<~. ~, I~.~.~trd In the ~vcnt that em rr~~~•ici~~n ~~r clau.i i~f thi. ~1~~r1~_aLr ~~r th~ \~,!i :~~ntli~t. :~ilh .~~~+li.ehlc I:n~. ,nih ii~nll:it .hall rn~I :ificct ~~th~r ~m~i.i~~n. uf thi. ~1~~r[La_< <~r thr \~~ti• t~h::h :.ui hr ~sn~n ~'fTr:t •.~a•h~~nt thc ~unflictinti ~+r~.~i.i„n. anJ ~n ihit ind !hr pr~~~i~i.ae~ ~~f Ih~ ~lrrtga~r :~n~l Ihi~ \~~Ir :ur ~1~:l.ir~d t~~ f~' .~e~rahl~- 16. BorrnNer'c ('op~. Borr„~.rr ~hall h~ fnrn;.hc.t .~ .~~nt„nnrd :~~~~~ ~a th~ \~~tc ,~n~l rf thi~ ~t~~rt~et~ at thc timc ~~f c~~cirtii.n ~~r ahrr r~rurJ.,tinn hrrruf. 17. Tramfcr of thc Properl~; :~~~omplion. If ,,II ~~r .~n~ E•.~n uf th~ 1'r~+prrt~• ur ;in intrrc~t thrrein i. „~W ~~r tran~fcrred h~- Bnrr"~+~r ~~tth:nd 1~nder'~ pri~~r ~+rittr,~ ~~~n.rn~. r~.lu.line +.~~ thr ~•re:~1i~~n ~.f :i li~n „r rnrumhranrc ~uhorJir.at~ t~ thi. ~1~~rtg:~cc. ~h- thc rrratii~n ~~( .i rur:h:i.r m~,nr~ .rrurit~ ~ntcrr,t f~~r hnu.rh~~fJ ap~li:~ncr.. 1~1 a tramfcr h~• dcvisc. de~rrnt :~n c~ ~~~xr:~ti~~n ~~( Li.~ ~~p,~n thr ~ira~h rt .~ i~~~,i~ trn:~n~ rr i~i~ thr zr.u~t ~,f .~m I~.~tieh~~ld int~rest ~•f thr~c t~ear~ or Iec~ ni~t ci~nC~ining an ~~ptirn t~~ ~urchacr. 1 cnilrr m.~~. .~t I cndrr'~ ~~~.t~~~n. d«I.~r~ :ill Ih~ tium. ~r~urrd hc thiti ~lartgagc Ic~ F-c ~ntmr~L:~trly du~ :~nd pa~aMr 1 endcr ,hall h:~.c :~.n.rd .ir~h ~~rtum t~~ :~~~clrr:~tr iL rri~•r t~, thc ~alc ~~r tranafcr. I.cndcr .~nil thr ~xr~.~n t~~ uh~~m thr Prrjkrt~~ i. t~• hc .rfJ ,,r Ir.m~frrrr~l r~:~:h ,~_rermrnt m Nntm~ that Ihc ~rr~iit ~~f ~uch pcr~c~n r. ~:~ti~farh+n t~• Lrr..icr :~nd that thr imrrr.t ~+:~~.~hlr ~ai th~ .um..u:t~red h~ thi, ~1~•rtc:~ec ~hall F+c at snch ratc ac Lender ~h:~ll rcyoc.~. If 1 cndc~ ha~ u•ai•.•cd thc ~~~ti~•n t~~ :~cc~lrr.,te pr~,cidrd ,n ~his ~ar:iEr:~ph 17. and if Bc•rr.,w•rr'. tiucceticc~r in intcrc.t ha. c~~cutrd ;~ wriurn ac~i:m~•tu~n acrrrmcnt :ncc~+trd en aritinL hc 1 cn~lcr. Lcndcr tihall rclca~c B~rm.ccr from all ~~hlii:~t~~m un.lcr thi~ ~1~rtLaec and thr tii~~~, If I cndcr c~erci,rc ti~ich ~~pti~.n 1~, a~:rlrr.itr. 1 rn~lrr .h.~ll ~n:~il Br~rm~+er nuti~c nf a~cclcrati~~n in ~rrnrdancc with r:iragraph 1~3 hcre~f. Such nulicc .h:~li pr~,.•~~Ir .~ ~cri~~~i ~~f n~~t Ic~. th:-n lfl ~la~. fr~.m Ihc date thc noticc i. m:~ilcd w~ilhin uh~ch R~,rr~~wcr ma~ ~r,~~ Ihc ~:im. JccL~rc.f dur It B,,rn+..rr t.~il~ s~, p:~~ ~u,h ,nm~ pri~~r t~• thc r~~+irati~n ~~f ~u~h ~xriud. I.rniler mac. ..ithc~ut furthrr notirr nr drmand ~~n It~~rn~ti.rr. ~m,~1.r ;,m r~mcdics ~crmrttc:l h~• paracraph fR hcseof. No~-(~~IFONM C~OYF\~V7ti Bc,rr~~wer and I ~nder further c~~venant and agrce as follows: 18. Acceler~tion; Remedies. Fxcept aS prn.~ided in para~~aph 17 hereof. upon Borr~w•er's breach of an~• corenant or a~reement of Borroa•er in this ~iortRa~e, includin~ Ihe co~en~nls to pa~ w•hen due am• sums secured by this !NorfRaRe. I.ender prior lo acceleration shall mail notice fo Borrowe~ ati pro~ided in paraRraph 14 hereof specif}~inR: (1) the breach: (2) the aefion required to cure such breach; (3) a date. not less than 30 da}-s from the date Ihe notice is mailed to Borrower. by ~shich such breach must be cured; and (4) that failure fo cure cuch breach on or ~etorc the d~1e specified in the notke mny rcsulf in acceleration of the sums secured b~~ Ihis ~torlRa~e, foreclosure b~• judicial proceedin~ ~nd sale of the Pmperty. The notice shall further inform Borroaer of the riRht to reinstate ~fler acceleration and the ri~ht to acsert in the foreclosure proceedin~ the non-existence of a defauN or an~~ other detence of Borrower fo acceleration and forcclosure. If the brcach is not enred on or before Ihe date specified in the notice, I.ender al t.ender's option ma~• decl9re all of the sums secund by this Mortga~e to be immedlatel~• due and payaMe without furlher demand and may~ forcclose this Mo~aRe by judicial proceedi~. Lender shall be entiUed to collecl in such proceedinR all ezpenses of foreclosurc. includinR. buf not limiled to, reason~ble attorney's fets. ~nd costs of docnmentary e~idence. abstracts and title rcports. 19. $orrower'6 R~hl to Reinstaft. Nntw•ith~landing I.enJer'~ ac~elerati~~n uf Ihe sumc ~ecurcJ by this Mortgage. Borrowe~ shall have Ihe right to havc .~m prexecdin¢~ tx~un hv Lrnder t~ ~nfe-rce thi~ ~1orlgage discontinued 3t any time ~ 3~,,x345 P~GEz~so ~..~~,~.: ~ ~ ~.~. ,~~~. . .. - ,