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HomeMy WebLinkAbout3000• • • r ~. ,y~ ` ~ 1 rnJr~'~ Hnlt~n a~;r~cntrnt .-r :~ppli.:~hic i:~~~ It,,rr.,~~~r ~h:~ll ~~a~ ~hr am,~un~ ~~I ail m~~~l~a~r in.ui.~n:~ prcmiimi, ~n th~ nr.~nnrr prrvidr.l undcr pata~;raph ? hrreuf. :~m :~nt~aint, ~ii.hurti~d M' Lrml~r pui.u:~ut 1~~ Ihis par.~t~taph 7. ~~~ih ~nt~r~~t Ihrr~~,n. ~hall f+~~~~tn~ addili~~nal ~~i.lrhrrdnr...~l H~•rn~~~rr u~rurrd h~• thi~ ~1ui~i.~tr l'nlr.. Burn~~~.•r :~n~! I rnJcr atrrr t~~ ~~~I~rr ~rrm~ ~~f r:~ymrnt. .u.h am~~iint..hall FK {~a~:thli u~~n nt+ti~r fmm 1~ml~r t~~ R~~rm~~ri r~.~u~.tine {~.i~mrm ~hrr~.~f. :~n.l .fz.~11 h~ar intrr~,1 fmm thr Jatr ~-( Ji.hur«mrnl :U ~hc [atr p:nahlr fr.~m tim~ k~ hmc ~~n nu~titandin~ piin~iral undcr thr \n~r unl~.. pa)'mcnt oi intr~r.~ at ~u:h r.~tr ~~~~ul~l h.• cnmran• tu a~plicahlc L~~~. in ~~hi~h r~•rnt .uch am~•iintc ~h:Jl Fxar intcrr~t at thc hichc~t r:-tc ~xrmic~iMr un~hr :~r~r~abl~ 1a~1. ?~~Nhin~ r~~mainc.l in thi~ para~raph 7~h~ll rryuirc I ~ndc~ t~- incur an>~ e~pcmc or takc .~m~ ar~ion h~r~undcr. S. Impcclion. 1 ~ndc~ ma~• makr ur rau.c t:~ hr m:~d~ rca.~~nahlc cnl~ic~ i~p~,n and im~xr~ii~n~ ~~f thc Pr,~~xrt~•. ~ri-~•idcd that 1 cn~ler ~hall ~i~~ Rurri~w~r nuliic pri~•r t~~ am ~~~~h impcct~~,n .~kcif~in~ rra~~•nahk ~:~u.i Ihrrrl.~r e~latrd t~~ 1 cndcr'~ int~rr~t in ~hr Pra~xrl~. 9. ('ondemnati~m. Thr ~nkccd. ~,f am• a~~ard or ctaim f~~r ~lama~rc. .1ir~c~ ~,r i~~~~•ryiirntcd. in r~~nnc.tii•n ~~•ith am• :ondcmn:~ti.~n ~~r.,~hcr tal,in~ ~•f th~ Pru~xrt}•. ~•r par~ thcrr.~f. ~~r f~~r c~~m•~~~:~n~r in liru ~d ~~~ndrmnatiun. :~rr hrr~hy :~~tii~~cd :m~i .hall hr p~id n. Lcnd~r. ln thr «~nt ~~f a t~Hal t:~linc ~~f th~ Pr~,~xn~•. ~hc pr~~i~r.lc ch~ll !.c :~r~lirtl t~~ thc .~~nt~ ~«~irrd h~~ thic ~1~,rlg;-~c. ~~i~h ~hr ~~.c~~. if am'• ~aid t~, Barra~-rr. In th~ ~~~cn~ ~~f a ~arti ~I I:~~.ine ~~f thc Pms-crt~•. unl~.~ R~~rn,~+rr :md 1 cndcr ~~~hcrwi.~ :~~r~ti in writ~n~•. Ihrrr ,hal~ tx ~r~r~.~ ~~. thr .um~ ~r~i~r~J M• thi. \1~,rt~at~ .urh rr~~p~,r~i~m ~•f th~ ~,rc.cccde as i~ iy~i:~l t~~ that pr.~p.~rtion ~~hirh thc am~~unt o( thr cum. ,r:urcd h~ thi. ~I~•ni:i~r immrdi:~tcl~ {•ri~•r a~ th~ datc ~f taking hcar~ to thc fair mark~t valur of th~ Pro~ri)• immcdiat~h' pri~~r t~~ the ~iate ~~f tak~nL. ~~i~h Ihe halancc .~f the pnx~edc paid 1~. Borrow•Cr. If thc PrupCtl~~ i~ ahand~~ncd h~~ B~~rr~.~~rr. ~~r if. aftcr n~~licc hc 1 rn~i~r tu R~~rm~~~r Ihat thr c~ndcmn~~r ~~tTc~c t~ makt ;~n :~~~.~rd rr .~INa a rl:~im f~~r dam:~,~~,. R~~rn~~v~r f:~il. tr rr.~,nd t~~ I cnd~r ~~ithin i(1 ~I:~~. aftcr ~hr d:~tr .~ich nc~tirr ic ~aailcd. I.~ndrr i~ authoritcd t„ c~•llc.t and arply thr pr~Krrd.. :~t 1 rnd~r'. ~,~,ti~.n_ rithcr t~ rcctorati~m ~•r rcp:+ir ~f thc Pn,~n~ ~~r t~~ thc cum~ ,~,urrJ h~~ thi. ~~ortgacr. Unkc. 1 cnd~r and Borr~+COttt~h-•isrl~c in ~~ritine. ~m~ .u~h a{~~•licaii~~n ~•( ~n-~c~J~ t~. ~rin~~~.~i .h:~ll n~•t r~~cnd ~-r ~x..tp~,nc thc duc .latc .~J ~~f1ORQ~~i ~~ ~rfrrr~d ta in ~ar.i~ra~•h. 1:~nd '_ hcrc~,f ~~r ch:~n,~c Ih~ am~~unt ~rf w:h in~lallntcntc. y~~ ~ 10. Borrow•er \01 Relea"ce"~.'T?xt~c~n of th~e ~im~~ pa~mem ~~r m~~difi.:~ti~~n ~~f :im~~rtiiati~.n c~f the ~~~m< <r~ured h~• th~. ~1~~rt~ae~ rranlcd M• I cndcr 1~• am• ~uccc~sur in imrrc.t ~.f Bc.rn•~~cr .h:~ll n~~t ~,~xratc ti, rclca~r. in am• marsncr. thc liah~litv ~~f thr rriein:~l Borr.,HCr :~nd R~~rrowcr', su:~r..~~r. in intcrc.r. I~nJcr ~hall n~,t i.c rcynirr~) t~+ r~mmencc ~,n.~c~ding. aLaimt ~uch wcccc~i,r ~~r rcfu~c tc. r~~cn~l tim~ f~~r pa~•ment ~x athcr~i~~ m~xlif~• :~murli/ati~~n ~~f thr sumc .crurrJ h~• thi. !11c~rtga~r h~• rrau,n .~f ,n~~ dcman~l madr h~ thr ~xi~_inal Itiirr.,~ver :ind H,,rn,wrr's ~ue~c~.,~r. in intcrea. I1. Forbearance b~• Ixnder \ot a R'ai~er. -~m f~~r~xara~trr h~ 1 rndrr in c~~rri~inz am riLht ~~r rcm~J~~ hrrr~md~r. ~~r ~~thrrWi~c atT~,rdc~i h~ appli.•ahlr (:~~c. .h:~ll n~~1 tk :~ w:~iccr ~H ~~r ~+rccludc thc c~crci~c „f :~m ~ltih rieht c.r rcmecl~•. 7hr prc~currmcnt of imura~tcr ~~r thc pa~~m~nt ot la~r. +~r ~+thrr lirm ~~r ~har~« hc Lcndcr .hall n~t F-~ a~~.~i~•cr ~~( 1 cnikr s riehl t~• accrlrratc ltk- ma[uril~• .•( Ihi indrMrdnr.~ .~:iirrd h~ thi. \1i~rt~aer 12. Remediec Cumolative. All remrelirc ~m~idrd in thi. ~I~.r!••aer :~rr di~tinrt :~ml comulati~•r t~~ am ~~thrr richt ~r rrmrJ~ ~~ndrr thi. ~1.~rIL:~_~~ ~,r atF~~rJr~) M• L•i~~ ~,r ~yuitc. :~nd m:~~ tx ~~~r~i~i.1 ~~mrurr~!ul~~. indc{kndcnth ~~r ui:~~.,i~~l~. li. Succc~u-n •rnd A~+iKns Bound: Joint •rnd Se~errl I.iabilil~: ('aptionc. "I~hc r~,~rnant~ and aLrrrm~m. hrrcin ~untainr.i ,hall hind. :~nd thr ~itht~ h~rcundCr ~hall +nur~ t~~. Iht rc~~~ti~~ ~n~~t~~ur~ :~nd a~~l~m uf I Cni1a•! .ind R~~~r~~wcr. ~iihjcc~ t~~ th~ pn~ri.iam ~~f naragraph 17 h~rr~~f. All :i~~rn:utt~ a:ui airrrmint. ~~i Rc,rr~~~~rr ~hall h~ j~~int :~nd ~c~cral. The ca~+ti~~n~ :~n~l hea~linLC ..f th~ par,~ir.~ph~ ~~f lhic ~ii~rtgagr arc f~•r r~~m~rnirnce ~~nl~• an~l ar~ n~•t t~~ Fx nced to ~ntrr~r~t ~~r dcfin~ thc pm~~ci~~nc hcre~f. - 1~. ~olice. F~rept f~•r :in~• notire reyuir~d un~ler a~~ lic:~hl~ I:~~~ t~~ t+e ~i~•rn in anrther manner_ f:U :~nt• notice t~ B~~rr~~w~cr pr.•~id~d fur in thi, ~1ort~a:c tihall hc g~~cn h~• m:~ilin~ .uch n.~urn c~ rrrtificd m:~il :~Jdre~.~~l tu Rorn~~~rr at Ih~ Pn,Exrtt :~.Idre.. ~+r at wch ~•thrr addre.~ ac B.,rrr~~~r m,~~ dr.~_n:nr h~ n,~ti:r t~~ I rndcr :i~ ~n,~iJrd h~r~in. and Ihl am n~~ti~r ~u 1_rnilrr ~hall tx ~i~rn h~ rcrtifir~i rna~l. rrt~irn rr~r~E~t r~y~~r~lr~t. t~• 1 cn~1~r', :idJrrti. ~tat~d h~rcin ~.r lo .uch ~~thrr :id~rt,. :-~ I.rnJ~r ma~~ d~ci~nat~ h~ n~•ti~r t~~ B~~rr~~~~rr a~ E~r~~~idr~l hrrrin. •\m~ n~~ti:~ ~n~~~idr~l fur in thi~ ~1.~rtg:~g~ ~hall F.~ ~lecmrd n. ha~c ~x~n ei~cn t~~ Bc~rn~~~rr ~,r I~~ndrr ~~-~~n ie.~n in th~ m:~nncr dc.i~n:~trd hcrrin. I5. !'niforn~ ~toriK~~e: Co~•erninK I.aw: Se~er•rbilih. Thi. I~,~m ~~i mnrtL:~~_~ cc~mhinec uniform :~~~~enant~ f.•r n:~ticmal UK :tfll~ O~~(TUI11~Uf111 ~~~~~1'll'JIII~ ~~ith limit~.~ \':1f1:111~Hh h~~ jiir~.iir~ti,m I~~ C~~il~ltllllt' :1 UIL~AfIII ~l'iitflll' IlNlfl:tlll'fll l'(~-'Cfl(1~' r~al pm~xrt~. ~~hi. ~1~,rt~:~Lr ~hall Fk g~~•.~rncd h~ thr law ~~1 Ihr iun.~li~ti,~n in ~ahi~h thr Prc~~rl~ i. I..~~:drd. ln lhc eecnt ihat an~~ rr..~•i~i.~n rr cl:ui.c .,1 Ihi. ~t~~rizaer ~~r th~ \~~!~ ;~.ntli:t. ~~ith :~~rr~ahl~ L~w. cu:h c„nflirt .hall n~•t a(iect ~~Ihrr ~+n~~~.i~~m ~if Itii: ~1~~rt~•az~ ur thr ~rt~ ~~hi~h i:~n hr _•i~~n rtTr:t ~~i~h~,i~~ thc crnfli:lin's Pmci.ic,n. ~nd tc~ this rn.i thc ~r~~~i.i,~n. ~•i thr \1~,rt~aL~ a~i~l thc ~~a~ :~rr ~Ircl:irrd t~~ t•c .~ccraM~. 16. BormNer's ('op~. Horr.,~~rr .h:~ll 1.~ furni.hr~i .~ i,~nf~~rm~d cr~~~ ~~f th~ ~~~tr :~n~i ~~f thi. ~lartt~aec at ~he timC ~~P Cr~~liUutl .~r :~ft~r r~i~~rJa~iun hcrr~~f. 17. TransFcr of Ihe Propert~: :1~~umptiun. If :~li ~~r am a~,~rt ~~f thc Pr~~rrt~ ur an interetit thrrcin i: ,.~Id ~~r tranderred h~• Borr~~t~cr ~~ithuid Lrndrr'~ pri~.r ~-rittr,i :~,n.~nt. r~~l~i.tini i:u thr ~rr:iti~•n ~~~ :i lirn rr rncumhran~r +uFx~rJin:~te t~~ thi. \1~~rtkagr. ~h~ thc crrati„n ~~f .~ ~t_rch:~.r mrnr~ .rcurit~ intrrc;l f~~r iu~u~rh~,l~! appliani~,. (c1 a tramfcr h~~ dcvisc. Jr.ccnt ~•n c~ ~,~rati~~n uf I:~~~ u~~n th~ .I~;~th ~~t :~ t•~~nt Irn:u-t ~~r 1~1~ !lir Lranl ~~f :~m I~.~~~h~,ld int~rc~t ~~f thrrt ~•~an nr IC« ni~t iontainittg an ~pti.~n t~, rur~hac~. 1 cnJrr m:~~. at ( rn~)rr'• ,,~.tu,n. drrl:~rr :~II th~ ,i~m. k:urrd h~• ~his ~1~•rtgagc t~~ F+c ~rn~~ic.li:~trl~- du~ :~nd pa~~aMc. 1 rndcr .h:dl ha~r ~~:~nrd ~u.h i•,nti~~n t.~ :~crrl~r:~t~ if. ~•ri~r t~~ thr ~ale ~~r transfer. l.cnder .ind Ihc Fxr.~~n tr wh~~m thr Pr~~~xrtc i. t~~ F~ ,~~1,1 ~•r tr:~n.lrrrrJ rea:h .~grrrmrnt in ~+nting Ih:it thc rrcJit ~f ~urh pcr~c.n ~. s:~titifact~•n t~~ I.en~trr :u~d that thc interc•t p:nahlr un th~ ,~im. ~r~ured h~ thi~ \1c~rtiage ~hal) ~x at snch rate ac 1_ender .hall rcyuc~t. If I cnJcr ha~ w:~i~~cd thr ~•~ti~~n t~~ :~rc~lrr.it~ ~r~.~•iJrd in Ihi. p:~racraph 17. and i( B~,rr~~w~cr'~ surccssor in ~me~~,t ha. c~ecute.l a~~ri~~cn as.um~ti~~n aerermrnt a.:crtrd in ~crihnc h~~ I rn.lcr. I.cnder ~hall relca~e Borr~,w•er from all ~~blieation, un~lcr Ihit M~•rtcaLC and thc tiotc. If I cnJcr c~crci~r. wch urt~~~n t~~ ar.rlrr.~tc_ 1 rmlrr .hall m:~il B«rm~~~r nutirc ~•f ~rrelcrati~n in arccrrdancc with raragraph l~l hcrc~f. Such ni~t~cc .hall ~n.viJc a~ri~~~l rf n~~~ Irt: than ?~ da~•. fr~~m Ihc datc thc noticc ic mailcd w•ithin ~chirh Rt•rru~~cr ma~ pa~ thc ,iim. dc:L~rcJ ~iu~ It B~+rr~~~~rr ~.ul. tr ~a~ .urh .+~m. prior ti, the c~pirati~~n ~~f ~urh pcri~xi. I.cn~i~r ma~~. ~~ith~ut (urthrr n~~ti~c ~~r Jrn?~r:ci :,n R~•rn~~~rr. un~~~.c am rrmcdics pcrmiuc:l h~• ~araeraph 1R hcrcof. \io~-l'~itote~~ C~-rt~~yTS. Bc~rrower and I rnJer furihcr an~enant :~nd agree as folluws: 18. Acceleration: Remedies. Fxcept as pro~ided in para~r~ph 17 hereof. upon Borrower's breach of any co~•enant or a~reement of BorroMer in this ~tortRaRe, includin~ the co~enantc lo pa~ wheo due an}~ sums secured by Ihis MortRage. I.tnder prior to acceleralion shall mail notice to Borrow~er ac pro~ided in para~raph 14 hereof specif~•ing: (1) the bnach; (2) the action rcquired fo cure such breach; (3) a date. not less Ih~n 30 da~~c from the date Ihe notice is mailed to Borrower~ by which such breach must be cnred; and 14) th~t failurc to cure such breach on or before the date speciRed in the notke may result in acceleration of the sums secured b}• this ~1ort~a~e, forecMcure by judicial proceedin~ and sale of the Properh. 'Il~e notice shall further inform Borro~+e~ of the ri~ht to reinstate after acceleration and the riRht tu userl in the foreclosurc procteding the non-existence of a default or anv other detense of BorroNer to acceleration and foreclosure. If lhe breach is not cured on or before the date specified in the notice, t.ender at I,ender's oplion ma}• declare all of Ihe sums secured by this MortR~e to be immediately due and payable w•ithout further demand and ma}• forecloce this ~tort~a~e by judicial proceedin~. Lender shall be entitled to collect in such proceedinR ~Il expenses of foreclosurc. includin~. but not limiled to, reasonable aftorney's fees. and costs of docamentary e~•idence. abstracts and litle rcports. 19. Borrower'F RiRht to Reinstate. ti~.twithNanding I.endcr'~ ac~cicration e,f the sumti secured by this Mortgage. Horrower shall have the right to have an~ prcxecdinR~ hr~un M I.cnder t~ cntorcc this Mortgage discontinued at any time ~ ~ ---~ ._..~ _. ar~ic3~~J PacE~~ ~ . :~-.~