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HomeMy WebLinkAbout06681 cn.ir~'~ ~~nti~n :~~rrrmrn~ ur :~p~-li:.~hl~ I:~~~ It~~rru-~~r tihall pa~ thr am.~unt uf ;~II m~,r~~aLr iu.u~.~ar~ prcmium, in th~ n-.~nnrr p~~~v~dr~l und~r pata~;raph ? hcrrol :~n~• am~aints di,hur~~~l M• i rn~irr ~~ur~u.~nl 1~~ ~hi~ par.~~!r.~ph 7. ~~uh in-rr~~t thrr~un. ~h:~li Fx•~rm~ :~ddiu~~n:~l iml~h~~~hir„ uf li~~rru~~rr ~~~u<<d hr thi~ ~iu~~iag~ l'~d~,. B~~rrr~~~r :in.1 1 rn~l~r .~Lrrr t~• ~~ih~r icm~~ uf p:~~ntcnt. ~u~h am~an+i~ .hall Fx ~a~aMr u{w~~~ nati:c fr.~m I ~nd~r ~~~ R~~rr~~~~ri rryur~iine ~•.~~mrnl lhrrr~~t. .iml .h,~ll Iw.ir iiurrr~t fram thr J.~t~ ~•f Ji.hur.~m~~nt :A Ihr ~at~ ~•:i~ahl~ fn~m limr ~~• timr ~~n aul~tandinc ~rinri~:il undcr Ih~ !~otC unlc•• ra~•ment of interc~t :~t •uih r:~tr ~-~~uld hi ~~~nlr:lrv t~~ :~~~~~,:aht~ 1:~~~. m~~h~ch rvent ~itch am~~unt~ ~h:ill F+iar inlcr~~1 :~t Ih~ hiehcct ratc ~x:rmictihl~ un~hr appl,cahlr la~~. ?~~~thiag ~untaincJ in 1hi, par.-gr:~rfi 7.fi~ll rryuim 1 rndcr tu inrur an}- c~{kmc or takc .~m• artion hrrrundcr. • 8. lo~pertion. 1 rn~l~r ma~• m.~{,r ~~r ~ai~.c t~• hc madr rra~~nahlr cnlrie. u{•un :~nd im~ctiun. af Ihc Pn•~xr~}•. ~m~•idc.f that ( rndcr ~hall ~i~a B.•rru~~•rr n~,tii~ priu~ U~ :~m~ ~uch in,~xrii~m ~Exrify~n~ «:~u~nahlc rauc~ thcrcf~~r rcl:~tcd t~~ I cndcr's intCr~ct in thr Pri~~tl~'. 9. ('ondcmoation. Thr ~•r~k•rcd. ~,f :u~~~ a~~ard ur rlaim f~~r ~lamac~~. dirc~t ~+r r„n.cqucntial. in r~~nnc~li~,n ~cilh am~ ,~ondcmn:ui~~n ~~r ~-fhrr t:~kin~ ~~f th~ Pn•Ex ri~'. ~,r ~a~t thcrc~,f. ~•r f~~r c~~m~c}•anc~ in licu i-f ~~~ndcmnati~m. :ur h~rrh~• a..ienrd an~l..h:ill bt pltd !~~ I Cndcr. )n the r~ent c-f a Ii~1a1 t:~lin~ of ~hr Pn,~xny. thr ~+i~~~e~~k ~hall tx :~ppli~~i t~, the .~~n~~ KCUfI`(I I~l' thi~ ~1~~rt~:+ge. ~~cth thc c~r~.s. if an)~. raid tu R~~rruw•rr In ~hr crcnt ~~f a p:~rti:~l ~al.in~ ~~f thc Prt~~rl~•, unlc.. B~~rr~n~~rr :md 1 cndcr ~.~hcrHi.~ :~gm~ ii~ ~~ritin~•. thrn .hall hc appli~~) t~~ Ihr ~un-c ~rrurc.) h~~ Ihi. '.11~•r1~:~c~ ~urh ~r~,purti~m nf ~hr prcx:ecdc as ic ei{u.~l to that pr~~~x~ni~.n ~~hich thr. amuusit ~~( thc ~um~ ~c:urrd M thi. ~I~~r1LaLC immrdiatrl~ rri~~r t~~ thr datc c-f taking txarti to th~ fair mark~t ~•~lur uf th~ Pru~rt~• immc~liatch• pri~~r t~~ thr J:~tc ~+f t:~kinL. with thc ha~ancr ~•f thr pn•~:cc.ic paid t~~ Borrow•cr. If th~ Pto~crt~• i~ ahand~n~d h~ Srrmw~r, ~~r if. :iflcr m~~irr h~• 1~•n~lrr t~~ R~~rr~~«rr that th~ ~~ndcmn~~r ~~1Tcr~ t~~ make an aNard ~~r +eltlt a Claim f:~r ~I:~tn:~~:.._ R~~~r~~~crr f:~il. t~~ r~.{k~n~l t~• 1 rndrr ~~iShin t!1 z1a~~ aftrr thr d.nr .ii:fi nnticc i~ mailcd. Lcndcr i~ aulhori7~d Io c~,llrct and aprh• ~hc pr~-~rrd~. at 1 cndrr'. i~~,ti~~n. rithcr 1~ rcVOrati~,n „r rcpair ~f thc Pro~xn) ~•r ~~• thc sum. ,rcurrJ h~• thi, 11orteaEC. Unlcsc 1 en~lcr and R~.rr~..~rr rthrr.~•i.r agrc~ in ~~ritin~~. nm- >u:h appii:.~ti~~n „f pn~rcd~ t„ prinri~.~) .h:Jl m~t c~icnd ur Ex~~tp~~n~ thc dur Jatc ~~f thr mnnthh incl:illmcnt. rrfcrrrd t~~ in ~:lf:l_L'R~{•h~ 1 and '_ hcrc:~( rr ch:u+g~ thc am~~iint ~~f .uch ins~allmcntc 10. Burrower ~ot Reieaced. F~tencion ~f the tinu f~~r ~:i~menl i~r mi~dificati~.n ~~f am~~rti~ati~~n ~.f the .~imc « c;ured h~• Ihi~ ~1~~rteaec er.~ntcd h~• 1 cndcr t~~ an~' ~u~cc~tior in intirr~l .~f B~~rmHrr ~hall n~t ~{xratc t~~ r~lratir. in am- manncr. Ihr (iabilit~' ~~f Ih~ oriein:~l Burru~~cr and fiarmw~r'~ ~u.r~~.~~r. in inlrrcct. Lcn.lcr ~hall not hc rryi~irr~l 1~• c~,mmcn~c ~r~.c~Y~lin~:~ again~t ~uch +ucrcc~i,r i~r rcfu.e ti~ c~lcn~l umc f.,r pa}•mcnt „r c.lhcra i~~ m~Klify am~~rlitali~m rf th~ cums ticiurcd M• thi~ At~m~agc M- rcau~n ~,f am~ dcm:uid mad~~ h~ tht uri~ina) R~~rr.n~rr anJ I3~frr~~wcr'c ~ucr~~.~.r. +n intr~c~t. 11. Forbearance b~• lxnder \ut •r ~~'ai~•er. ~~~n (~~rtx:tirantr h~ 1 rnd~r in r~erci.ine .~m~ riLfit ~.r remrd~~ hcreunder. ~.r ~~th~rw~i+r a(T~~rJcd h~ applir.~hlc (aw. ~hall n~,l Fx , w:~i~,r ~•1 ~,r prcrludr thc ~~rrci~r ~~t am~ .u~h ri~ht c,r remcd~•. Thr ~r~urcment ~f in~uranrc or ~hr p:~)•mcnt uf t:i~c. ur ~,th~r licm ~~r ~harLr. h~~ 1 cndcr .h:~ll nc~t f.r :~ ~,:u.~rr ~~f 1 cn.tcr'~ ri~ht t~~ ar.rl~sat~ Ih~ maturit~~ of thr indrM~dnr.. ~c_~irrd h~ -hi. \li~rteati~. 12. Remediec ('umulati~•~. All reme~licc pru~idrd ~n thi. ~1~,rtLa~:~ are ~li~tinit :~n~l cumulal+t•r t~~ am ~•tfirr richt ~~r rrmc~l~• undrr ~hi~ M~~nL.~cr ~~r ~tTrrdr~f h~• la~~ ~,r cyuit~. .md m:~~ h~ r~cr~~.r~l i~,ncurnnth~. indc{+~ndcml~ ~~r .u~~r..i~~~h. li. Succecson •rnil :\1siRnc &Iimd: Joinl aad Se~eral I.iabilih: ('aptions. "fhr ri•~~nanlti :~nd :~Lf~tlil~l)1~ hrrein cuntaii~«I chatl hin~l. and th~ ri~ht~ hrrrander tih:dl inurr t~,. th~ rc.~x~tiv~ tiu~cc...~r~ and a~tiign< <~f 1 cn.lrr .~nd B~•rr~,~cr. ~ubjCCl [~~ ~hr pr.~~i~it~n~ of paragr.~ph 17 hCrc~~f. AU ~:~~•en:uit~ :tnil :~gricmcnh ~~! B~~[ru~e~r tihall tk j~,+nt .~tjd ~.ctcr:-4 Th~ ca(~ti~,n. :~n~l hea~liti~~ ~f tha p~~raLraph. c,f thic ~1~~rtgaLr arc f~~r rc~m•eniincr ~~nh• :in~l are n~~t lu F.~ ~r.ed to intrrpr~t c.r dcfin~ tFx: ~r~~v+~i~.n. hrrc~f. 14. \otice. E~rept f~,r anJ• noti~c rcynircJ ~~n~i~r :~pptirahle I:i~~ t~~ br Liven in :~m,thrr manncr. (a- .~m~ nntirc tc. K~~rruKCr pr~~~'iJcJ for ~n thi. ~1~~rt~ae!c ~h;Jl h~ gi~'cn .h~~ m:~ilini .u~h n~~ticc h} rrrt~ficd m:~il .uldrr~.rd tu R~~rr~~t~cr at th~ Pr~,Exrt~~ AdJrc.~ ~~r at wrh ~Hh~r :~ddrc~~ ac Ri~rnn~~r m.~~ dr.itin:~tr M n.,ti:~ t~~ I ~ndrr ac ~r.~~•idcd hrrrin. and {h1 am m~tir: t~~ 1 rndcr .hall fx gi~~n h}• rcrtific.l nt:~il. r~turn rriri~~t iryii~•tr~l. t~• 1 cn.ler'. ~d~lr~ti~ Slatrd hcrrin <~r to .u~h ~~thrr addr~.~ :~~ L~nd~r ma~ dr~iemUC h~ ~ioti~•r t~• B~~rr,~~~rr a: pr..~~dt~l hrrcin. ~~m~ n~~tiir pr.,vid~.) f~•r in thit 11.,rlLagc ,h:Jl I.~ dccmcd t~, hc~~c txrn st~~~cn ti~ B~,rn~~~rr rr 1~•nJ~r uhrn i~~cn in th~ mannrr dc~icnatrd hcrein. i5. L'niform ~forfK•rke: Gn~ernine i.a~.: Se~erabilih. 1 h~. turm .~t m~•n_~aLr :c~mhin~c imifi~rm ~~•~'enant. f~~r n.i~i~mal ll\l :i114 (1~'il-Uil1~tK111 C~~~"l'f1:11!{~ :\11~1 ~Illll~li{ \':If1:111~111• h~~ iun.~h:ti,~n h~ i~Vl~h1U1~ if Illll~l~(Ill 1C~lIf11C 1I7\lTllllll'fll l~~t'lflfl}..' real ~n~~xrt~. Thi. ~1i~rtc:~~r ~hall Fx cu~rr::rd h~ thr l.t~~ .~f tht iuri..li~tic.n i~i ~~hirfi ~Fr Pm~xrt)• i. h.~:~trd. Tn the r~•cnt th:~t am~ ~r~witiu,n ~~r ~lau.r uf Ihi. ~1••rlL:~z< <~r ahr \,~tr :,~nflict. ~~ith :~p~lir.~Mr 1.~~+. cn.h ~c~ntlict ;hall n~t affcct uthtr pr~~~i.iun. i~f Ihiti ~1~~rlta!_< <~r Ihr \rr.i' ~+hiiii ..~n h~ ,~~in ~IT«t ~~i~h„uI Ihe r~~ntliitin_~ pr~~~i.iun. and I~~ this ~nd tllt' *!u~i~iun~ t~I lh~ ~1~~rti:~_1'~ a~lt~ th~ \~N~ ar~ ~i~iL~rrd t~~ Fk ~~t~«:~h!~. 16. Bormw~cr's ('np~. Borr~~~~~r .h:ill h~ f~~rn~.tir.l .~ ~~~n(~~rm~J :~~{~~ .~t thc \~,tr :~n~l ~~f thi, ~1urtLaec :+t thc limc ~~f c~~cution ~~r altrr r«<,rd:~ii~m hrr<<,f. 17. Transier of thc Prope~f}: :1~~umption. If :JI ~~r :,n~ ~~.,rt uf :h~ Pr~~~xrtc ~~r :m intcrc~~ thcrein i~ ~~~Id nr Irancfcrrcd h~~ Born,w~r ~.ith~~iit I.rnde~'~ pri~~r ~+tiltrn i~~n~~nt. ~~~lu~lint i.~~ th~ ~r~afi~,n i~t a lirn „r cncumhranic •uh~irJinatc tc~ thf. N~~rtc:~gc. ~hl thc crration ~~~ .~ ~urih:~.r ~n~m~~ .«urit~ iiitrr~,t f~~r h„u~ch~~1J :+rpli:inc«. <<! .~ tramfcr h~• dc~~isc. Jc~ccnt „r M~ i~~ration i~f I:~~~ ur~~n Ihr ~k:~th ~~t .~ i~•~~et Irnant ~~r r,l~ thr Lrant ~~f :~m Ir:~~chidd intcrcst r( thrcr crart rr Ice~ ii~~t c~•n{ainin~; :in c.ption t~~ ~ur.fiasc. I cnilrr n~.~~. .~t 1 rrul~r~. ~~~,ri~~n. drrL~rr :~II thc tium. ccc!ircd M• Ihis ~1~~rtcaec t~• F+c ~mmrili:~tch- duc and payaM~. I rnder .hall h:~.c .•.u~rd :u, h~~f,ti~~n ~~• arcrlrr:~tr it. ~+ri~,r t~• tfir ..dc ~•r trantfcr_ 1 cnder .m.i Ihc ~xrti~m t~~ wh~~m thr Prr~~rrt~ i. t~~ hc ,~~I.I ~~r tr.in~~rrrrJ n:~~h .~s~rrrm~nt in untin~ th:n thc rredit ~~f w~h {xr.on i. ~:~titi(ar1~~n ti~ l.~n~lrr :md tha~ Ihr intrrc•t ~;~~:~hlr ~~n ~hc .unt. ~riurcd h~ thi. ~1~~rt~~acc tihall hc at tiiih ralc ac 1 cnder ,h:+ll rcyu«t. If 1 cndrr h:-< <+•:~ie~-.1 thr ~,~-ti~~n t~~ :~:«1rr.nr pr~n•iJrJ in thiti p:~r.~_~r.~~h 1~. and if B~rrow•rr'~ ~occesc~.r in ~ntrrc~t ha~ csccutcd :+ ~+~riurn as.um~~u~n a~rrcm~nt :tcrr~t~ci en uritinc h~• I rn~frr. Lrndcr ~hall rclca~c Bi~rr~~+ct from all ~~blicaU~mc unJrr thi~ ~1~~rtc.~~c and the N~~l~. If f rndcr r~crriuti wch upti~~n t~~ :~.rrlrr:rtr. I rn~lrr .h,~ll nsai! R~.rrc~ti~~•r n~~tirc ~.f ac~clcrati~,n in arc~rdancc Nith para~raph 1-~ h~re~f. St~ch nuficc ~h:~H ~+rur•~di a}kri~•J ~~f ~~~a kti. than 3~1 ~ia)-. ~r~,m the dat~ lhc notice i~ mailcd w•ithin ~.~hich f3~~rr~,~+cr mac ~:n thc ~um~ JerL~rr~f di~r 11 B~~rrr.~.rr t:~ih !~~ 4,a~ .u~h ~um. pri:~r ta thc c~pir:sti~m rf ~t~:h ~n~x1. Lrndrr m:~~•. ~ithc•ut furth~r n~aicr i~r.lcmand ~,n It~~rrr:+rr. im~~{.r ?m rrm~dic~ rcrm~ur:l h~- raragraph ltt hcrcnf. N~~-l:tiifoK~t ~'~n'F~~~T~. Bcu~Ow'Cf and 1 rndc~ furthcr a~~cnant and agrec as foll~~vr~_ 18. Acceleration; Remedies. Fxcept ac proa•ided in para~;raph ly hereof, upon Bo~rowe~'s breach of any co~enant or •r~;reement of Borrow~er in this ~fortRa~e. includin~; the co~enantc Io pa~ when due am• sums secured by' this Mortga~e. I.eader prior to ~cceleralion shail mai{ notice to Borrow•er ati pro~•ided in para~rapM 14 hereof specif}•inR: (11 the bnach;12) fhe actio~ rcquired to cure such breach; (3) a date. not lecs Ih~n 30 da~~s from the date the nolice is mailtd to Borrower. by whicb such brearh must be cured; and (4) that failure lo cure such breach on or before Ihe date specifitd in the notice ma~ result in acceleration of Ide sums secured b~• Ihis ~1or/Ra~e, forcclosure by judicial proceedin~ and sale of the Property. The nMice shall further inform Borrower of the ri~ht to reinctaie ~iter acceler~tion and the riRht to assert in the foreclosure proeeedinR the non-existence of a def~ult or am• Mher defence of Borrower to acceleration and forectosurc. If the breach is not cnred on ar before the dale specified in the notice, t.ender at I.ender's option may declarc all of the sums secured by this Mort~aRe to be immediately due ~nd paya6le without furlher dem~nd and ma~ forecloce this 11ortRa~e by judicial proceedinR. i.ender shall be entitled to collect in such proceedinR ati e:penses of foreclosurc, includin~;. but not limiled to. reasonable adorney's fees. and costs of docamentary evidence. abstracis and litle rcpo~ts. 19. Borrower's RiRht to Reinslate. '~~~tvrith~tanding I.enJer'. acceleraticm ~~f the wmc cecoreJ by this Mortgage. Borrower shall have the right to have am~ procecding. hrgun hy I.ender to enforce Ihi. M~rtgaRe discontinued at an~ time aDOK ~4 ~ PaGE 6~5 ~ ~4 ri } " . ~ y •~ •~'~"o-.±..w:~~T~~ -s_-~wt~.~ti~a".. .,.~..~. __,