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HomeMy WebLinkAbout0040[_rr~~ier's wntter~ agreemen[ ur applicahla Ibw~ Burruwar+ ,#taili ~~tt~r ymuwm a$ ,a!! rmu~gyc .inwry~~ce ~nsmium~ iA the manner prov~ded unckr psragraph Z haraof` Any amounts disb-used by Caa~ pur~ianr. m~ ~ri~r ~u:~.~pih ''1. ~~th .~n~~t :fi~o~. shuil fi~acome addnianal ~n~btedness of Bumowcr aecurd hv ~h~c '0[urty:~y¢ 0.~1l~cw~ ~~rfic~.Mmr jn~d Q~nitier ~rs~r t~ .c~tiwr tetms at ~ay~t~ent. such amountc ~hall he payahk upon~ n~-nca fmm R~nd'cr ci~ 8~~rnuwu~ ~uMVtm~ ~m ~tt~rsid. mtl studl tiear iMerrat from the date of dichunemeru at the rsre pav~la fivm cime nr nm~ ~-m .n-~~i~ pamc~rll .un~ +ti~e Alats ~mkes payment ef inter+cst at wch rate wouid he cnntr,irv~ m;~ppliwtiiir law~ ~m ~uti~uf~ s~enn a~alh .um~utt~ ~fiall ~r ~Merat at the hyi~at rate permissibk under rppliwble law !W~tfimg ,;nnta~nesc~ :n rti~~ par-~" ~ll -eapu~s ~itler 1o mcur any t~etee or tats ~ny action hereunder. ~. ~qe~fi~ CanJer m~v m:aka .~r.::ui~ m ha ~nu~tk ~e:a~~nu#Nk sm'~t~ ~m~~n une! m~.n~ims cit the ~'roperty. provided !hat [.ender chall give Burrowar n~~n~ p-i~~r m.unu a~cli: ;n+.p~::lun+ ~`fj1CL'(~Nfi1~ (ii'J-StIfW~lIC LNIIS['~L`iC~M TCIBIC(I 10 LCIIdCf't ~r.~ertct ~n the Pmperr:. ! C~ Thc pnx;;.-eci~ ,~f sm~ awa~ ,u• ,;,~'sum~ ~~n tiunut~t~ drt~ut .in iun~q~ttt~l. m ccmnsction with any :~ndemnatian ~ir.tither tak,ng.~f the Pr~~ptrtu ,ir pait ~h~snu-f ,~r. ~~K,i:~n-vs~xutu~ m;{~u,c~f,L•cmdcmnat~cm. ere hertby assigned .md ,hall hC pa~d m Lender - fn the tv~t of a total rak,ng ~.F rhe PK,arr•« ~He ar•-~,;~& ctiuil! ~iier uT~Pi~d ne~ ~tfie ~~m-a ~ec~~ b}• ti~is ldlort;agt. witb the tr~ecs. if .u~y. paid re~ B~~m,.vcr Ih ~he at•~nr :~P .~.- ~nr:~ull •uillm~ ~d +ti~t ~rimerr~. unk~sc Bmrawcr and Lcnder ,,~herwicc a~ru in wnn~~. tfiere ch:~ll he spptir.ct ~u ~hG ,.un+.~ ~t:irssti 'h~ ~ti1-. 'Id~~ry;~r suah fir[~crrt~on af tht ~ ac ~a tqu~l to that pr~~p~~rtiun which rhe .~muunr ,iP rtie ,Yim-.~ .5::irtn~tl ~iu !thti~ al'l~rrtgts~et immntiiatsl~ ~rutt to the date of r~k~ng hearc to the fa~r market vaiue ut the Ptoprstti~. mm~uti:utrfu aFUn ~tn:tie~.ilute ai •tal.n~. ~ttii ~ti~e t~alancs of the prac.~eeds paid tn Borrower. 1f the Pr~pertv ic abandr.nect h~• Bnr..:wa:r .tir •~ ~t'tur ~~niur ~iu Q.ss~~tkm h~~ ~~rrnwr~r rthat -thr condamnor vffers to make ~n .,warJ ~~r :~ttle a.:fa~m i~~r .lam:~~. B~~rr.~w~r r'.;~I~~ •-~ ~~~n~ m~ ll~nilsr ~w~~tiun '~0 .davs aftcr tfit datr such natice is m.uted [_tnder i~ authorized u~ .:nllecr' and s;tpiu rt'ta ~s~e~ssds att a~tti~r;ti .c~fion. ,~ttitflr ~n :rsstorAlion ctt rtpair of t~t Pr.~penv ~~r n~ tfie ~umc .es:i-red h~~ th~s !pfnrtt~ayer l; nlrs, 1 ender and B~~rr~iwer ~~therxa.~ ,~rEx .n ..,-~t~nq: .un.~ ,su;.+i~ .umiiu:ut~sm ,id ~rcx.~:eth tc~ Trincipal shall nc-t cxtsnd ,~r p~xtp„ne the ~iue .i:ue .~f the mc~nthl~t mst511m~mts~ ~fts.^m~.' n+~ !m ~xm~Hfa q sm~ ~~~oi ar nhange the amaunt d .~:ch m~tallmenta. i~. ~ornnwer ~lot Retea~ Extenrnn ,if efns• nme~ ~~r ps-unm~r. an m-t~iftLUt~~m aT xmortir~tion o~ thc sums secured h~• th~s Wnrt~sge gr~nted hv f c~nder m.u~a~ cuc:.~cw~~ ~n im~.~t~ ,~ti ~irrnw~. ali~all ner. .i~ ~o release. in any manner. riec tiah~lit~• ~.•r ~he nriginal Burrower an~ B~+mwrso ,~i~'c~a,rs ,rtm iinu~vt ilarndar ~i~all T-cn i~r ssquistd to comtne~x.e ~r.~ee~ing~ ~g~~n~t ,uch ~uc;.ecair ~~r reftic~ c~~ ~ititx~ nme ~nr ~n ex ,ert~ssn-.~~ Tne-tiifx ameMization of the sums .t~ ured h~ rfiic K.~rt~~e hy reaam ~f ~rtat ~Crn:u~d: rrt~• tia cHn• •.niuauil 8iurci+w~r .antl ~cxmwsr s succ~ors in irAtrest. I1. F~earaace 6~ Len~es ~f.q~ a~ ~. ~~n~ ~,~+ear~a~~ fi+ tl:rmfinr,m ~~u:rs~g mu rigM ~x rsmsd~• i~ereimder. or :~rherw~+e .,tT.~rdeJ hy appliwhie law chall: n~r na~ ,~ us~uwsrf.:~f' .ur ~-~c:iut~e ~ti~t 3.v.~[cise .df am sueh rigM or ~y. Thr procurrment .~f insuranc.e ~1r the pawnem- uf r,~~~~-.~r nifter:imr+,.,~r. ,:.~rn ~iu it~ntier athall nen fic a x•aivtr of Isnder's r~ght u, .n:~~lerare the matunt~ of tfie +ndetut~necc .v,:,::~rscC'n~ ;th~ ~f[~*~t~a~c 12. Re~aedG~ CwwWotE~s. .~JI remeities pm.•.~~ :n• rh~r..'iA~r-~ :ntr ,ti~stitu.-t .tm8 cumulatiwr to an}• trthtr ri~MM or -eme:l} ,~nder th~< <t~~rtgagc or affu~ct hr !aw .~r aeuu~~.~ ..n~ m::u `iu•,~rsst;:ntis:~ y~ms:ur~ill~. in~tl}• rr successivClS'. i3. SoccesRe~s ~wd ~S ~ouu~&= .tea~t~ ~awi 9a.~aaoM lia~i~ ~'a~aa. 1T~r Lt~.~nants an8 s~rscments hetsin ~~•nt~~nr:i ;hal! hind. ..nd tfie riehta herexinder-.~tiall nun. n~ -tte ~mpa:;re~~ ~i~w~uRC ~m~ asigns cri :[~nder and $otrower. ~ubj~ct t~i rhe pr.~vic,onc ~~f par~gr-~pfs ;'.ner~~r ~t;l .;.;~~•«a::mti .uut' :~..-nt. ~d ~ursc.w_*r~}tall fie joim and stveral. The .aptiom .,nd heading~ of the par,~.npn~ ,~i• ;hir 'Oh~rt~;.ye• ,a~ '~u* rim~,~nusner mif~ untl arr ncrt to be used to nterpret ~~r ctefiae the pnn:~~una herznF T~i. ~iofice. Ex~ept f.~r anv nnn~:e rec}~ur~d in~t~r ipqfii::~i+1r i~ •n• :te ,g~~n m ancnher ~RSamicr. (a) an}• nolict to B.~rr,~w•er pr~s~~ided fu~ ~n :hic 1~tur:~:-~e ;nal! he ~~~~ ±+u ,nsuiin~ :vu:+i~ ~~e~t~ i+x :s~rttfied mail udthrs.~8 to Harcower at ~he Pr~~pem~ Addreti; :ir zt .uch ~uher .utdrt_-~v .,,r Bi~r..~w.s~ •n:at ~ti4.~rsatr 'tu nuuc.x -t~ 7.$nder as provided iierein. and '-+~ am nnu~t tu [_ender :h~ll 'x ~s~•t:.n hr .:~:r?ideet m:ul! ~t~r?rn ~zs::s:qr °r~t~-~s~d ye~'~:enclzr'~ a8thras stated herein or to .~,~h +~ther :iddrrsc ~s Lrnder ma~` IICSfBlt:-fC.' tTV 11211i:~u' rit B-irs;w~ .~, ;nsn~:~titii3 i~rn ?Ans ~natice providsd ior in this N.:rtgage shall F+e ,ieemed tu ha~•~ heen ~tvCn n~ 8t~r*r~u+rs ,~r q sh~t' .wte:[s ~utt.~n :m ~e ~ttnQr destgnatea t~ersin. IS_ i:wifena `tort~e: ~'.ove~riw~lu+: ~a+wai~• TT~~~, =~~rrr.i~':mart~te s~e.mhinrs im~acm rnvenants for natianal +sc and n~~n-unif.irm ~~~~•C.~antti kuh :im~te:i w,ar::tt~~n~ !i~~ iir ti.ilci~~K~ ~:~ ~:~mstn~nr s tmr~Ctrm 3ec:irrrt;~ ir~slrument covrring r-eaI pn.pem~ Th~c 1~l~xt~:~ge chalt !ie ~un~:.--iezt ~*~•- ttt~ `:.w ,~t~ •t1G• ~-r. ~.ci~::tiEm n~ ~.'fi~iL~fi tite ~Prctpsrt~~ ~s Ic~cated. Yn ttit ~~:ent rh.,~ ~nv prov~cu~n ,,r :la~~u; ,et <fi~~ !Knr-r~t:.L~ ,~r ~h~ `0.:-ls .~~ntiis:~,~ a.~tti~ tt~tnl~cafilf iax. su_~s ccmflict shal) not a$tct ,ther pr.n,~uanc ,if rhi~ tf.~r~ge ,~r !he `~i.ir~ .~.~t~~:.`r .::.~i ~G ~tivs.-r s.'fi~: v~•~tii;ntt 1fir Lemfi~eting prc•visicm. and to this zr.d the pr,n~ti~~nt ~~f rhe K.~rt~ge ,,nd the `4.:ti ;rt u:;:::.r•s;t •~~ tz ;.r~.^~titir- . I6. Senower's Copp_ Barrewzr ;h:il! i+e •.":-r~~.i~e:~ .. ~.i~n:r.tr~s~ ::cq« ti~! -tttr '~:~nr :md cZS th!s 'Mortg;~gc at tfic titne , •f exe~ution ~~r ~fter re.nrd:ttion herenf. !7. 7r~nsfer of tlte !t~*eitv: .~ua~tfw~n f1' .~il ,r .jne~ y:.r• -.r •tte !~S~s.-r-x er. un mte~rst l~rrem is sold or transfe:red h~ Borr.~wer w~thr.ut T_znde~t pn~u urrut~h :tinti.:.~r s~:.::~~din~• .., •!ie y-r_~;riun! t-f a iecn ctr cnc-mrbrs~nce subordinate to ~h,s K~,rtgage. ih~ th+e .rz:-tinn ~~f ~ pur~:h:nc mnne:~ -:~e:::~r~•: ntt:.~er' i~r. i~cn-~oid _;~ii:mctzs. lc- a transier M• devise. ~ie~cerlt ,~r hy .ipera~iRn of law upnn !he ,iearh .~r. .~ ~unr tun;un• .~r. ~i! -ttc .~-~n~ e~ an.~ ka~a:ieold int~rtst c.f tfiree ysan or kss ~~~t ~ontein~ng ~a ~~ption :a pur...'~ase. f.emtrs m:~u .~r f~~~ :anna. .tk::::;~~r al: tiu sum~ aet:ursd ~u this ~9ortgage to -be mmediaceh due and paeaF-le. Lz:ssdv ;hail ha~•e .w.,,~•c~ ;uc.Y emt~im ~~~ a:::s'~:atr tt nriirr t~ tfi~e wk c~r transfer. Ltndet +nJ the pe: u>n ~o wh„m the Pmpertv i~ ru ae ;.rid ,~r rr.:n~v~ ssz~ ~r;c.~ .:~,~~:rr, m xKnm~ ~tt-at iht credit af sucfi person t sahsfactun t~i Len.fe: and that the inter~~t pa+:•snie •in ±he~ ,virt~~ ~u~tl ~-tt~n ~6c~*t};:~ps sfi~all hs at such r~tc as Lender ,h~li rec}u~t_ (f I ender has ws~ved the ~ip~inn.c~i -••~'er_u~~ ~m~u~t1~L' =n; •ti» ~rrngrr~ih 77. tmd tf $orrower's succe~or in nrercct has =Yecuted a wr.tten .issumor-an .~sne.~r.x:,:~:a~t~.':n .w'tt~rg -tu ~(asnticr ~~nder sisall rsiease $orr~wsr from a11 •~bl~¢andns un~te: th~s K.~rtgageand`the'~i.ite. ff[ ender exer~ssec ;uch ~~p~mn t~i au:etrr~t~ L•s~~~.r ~n:ai -rr.:~i' Hiirnwar n~ne~e ctf ac:~izration in accordancx wrth ~aragraph ?.1 hereof. S~~ch noti~. ,it:.il pr.~w~e .a ~er.nd :u` i~u~ .4~cs. ~san 'itti ~:. $TOtn ~ft~ :dag ti~e natisx a mafkd withm .-h~ch Borrower ma~ pay the ,umt ~f~::~recl .itee. f B~-r..tiwe.^ :ulir- •u~ ~;u ~ii;.+h .r-m~ ~ttutt 10 -ti~c tvcpir'dUOn cri such per~od. Lender mac. •~vith~~ut ~irthcr nar~ce ~~r ,irmand .in l~u-iw~ m•IiN~r mL~ T~-nts~~ .~:mrtted {~.ti ~aragr~th 1R hereaf. tio-~r_I;vtF~pH ('.~vEV avTi &irmwer ~nd. i:a.h~ 'tir_fter ;~v~rutm .and ~~se ~a 3nliaws: IS. Acceler~tiow: Reuiedi~. E~oce~c ~ pn.~ii~d1 i~ pwqpaqib II71 IteeesslE. u*~ i~wef~C Ideas~ ~d a~} c+o+~t~ ~r ~reemeot of =orrower ~a tbi~ ~faet~a~e. ~ tlMc an~niti qr ~ar~ w~o ~e a~ +ww~ ~eord b~ slric 11tar~~pe. ie~ier prior b accdentiow =~a1t ~nail sotice ~~rsna~t s~ yn ~o~M Li lia~d ~}wci±~i~ Qi ~~e idei: ~21 ~e acti~ ~rei ~o cere ~ch breacb: 131 a~ ws~t. ie~ tli~n 3W ~ f6~ ttl~e ~elr Mi~c ~/irc s a~iei M~ev~ ~' w~ ~ci breacb w~ast bc cws~ aad I~A ~ I~us a~ .we~ ~~ e~ ~r i~e ~lie i1e ~adiea i~iie ~ii'ioe ~ ne~it L xcdcr~tian of tUe s~a~s 9ec~ued bp tb~r ~. Ae~ar 6~ ~Cii !~ a~i #~ tlie h~ee~. '~~e a~ii~~e sball brtba isfiins ~oriswer of ~he riy~t tr~ eai~e lG~er ~o ani ~r ~t ~ a~r i~ ire ia~e~cl~e ~woe~ tAe noa-ex "stence of s~el~k or an~e orhes ~ alf i~wsw~ar uo atndia~ awi ~i~r~. E it fra~ is st r~si s~ nr befo~e tre da~ s~eeiii~i is tNe ~stfc~. [e~iea aR [~sie~g e*Ms~ aaa~ i~e ~1 ~ ii~r ~s ~eo~ni i~• ~ic ~f~e #~ ie iiomedi~d~ d~e a~ ya~allit wiqtsrt ~io11i~ iewwi arf ~~ 6~e~ dhls tf~ ~~ ~niioii ~oee~r ~~~ier iii be e~itid ~ coAset i~ ~cft paeecdf~ ~li ~eseE at ~, iiwr~di~,. Irwt ~t ~i~il~i ia, ae~o~r ~ll~eylc taec. ~i cae~ at dses~a~ e~i~esat ~i~pae~-a~ Wlk w~e~It. 1~. ~orwwds li~t pt Rea~r~c. ti~nwtf~an~ting Q.~~terri~ .~:a~8~ttum uf ;t1+r suta ;ecu~i ~y tfi~s )da~lsaae. borrower s6all have the nghc ro have .uTV arocetdiaysr nagum ~tu ~,~ndc -~i~ amiucwe ~ l8arrigsyc d~commuod at ~ny time A~ieai~ ts ~ira~a~~ '~ 13~e s~ and ba~i; (taw~ appiia~Hiie m+ eths ~ma~ge ~hhall ~be ~Le .iawa d U~e juri~diction in vrhich che pnoperty is locmd The iore~n¢senc~s~~lU+io~-finnndi~e~Wciibilitu,al~l~•:tv~C munqape. ~t',~.lFp~~ ~I~ ~ - -- ,:_,; . -- ,nt ~-:-4=~ -- - ~ - _