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HomeMy WebLinkAbout2602~ ~~ 1 rn.lc~'~ ~~nt~rn .~~;n~mri~~ ur .~p+~li~:-hli L~~ Ii~~rruHr~ ,hall {~a~ ~hr am~~unl uf .dl murly.~~r in.uran~~ p~~miums ~n thc . ~~i.uinrr pr.~~~~dr.l undcr pa~ag~aph 2 hercof , :1m~ attitt~un~~ ~li.hurs~d bv I rnitrr {~ur.u:~ni ~~~ thic ~are~r.~~-h 7. u~~h iotcrr~t ~hrrr~~n. .hall F+«~~mc addih~~nal in~l~•M~dnr~~ ~~t Ii~~n~~~~cr .r:urrd M• ~hi. ~1~at~.i~~ l nl~.~ R~a~.~~~cr .ut~! 1 rmkr .+g~~e t~. ~~llirr irf~Tl~ ,•( s,:~~•mrnt. ,uch anua~nt. ~h.~ll 1-x ~~a~•ahlr n{k,n nr~~i:r fr~an I rndrr ~~~ B~+rr.,~~rr r~yuc.lin~ ~~.~tmrnl Ih~rr.~f. an~l .hall -kar in~rnKt fn~m thr ~L~t. rf ~li.hnr.rmrnt at ~hc r:rtr ~:~~•:ihlr (-.~m time 1~• timr rn ~~~itct.~ndinc r-~~~,:~~:+I undcr Ihc ~:~tc unlc~~ paymenl of intc~r.t at ~u.h r.~t~ ~~~ul~l F.~ c~•ntrtr~ tn ,~prl~cahle 1:~~~. in ..hi~•h r~•cnt ~~~rh am~,untc ~h:~ll ?kar intcrc•1 at Ihc highc~t ratc ~xrmictiMr imdrr ap~~l~.ahl~ la~~. \~~tliing c~miaincd in ihi~ par,~cr;~ph 7.haU reyuirc 1 cndcr t.. incur am• c~~xncc or takc .~n}• a.tion hrrrundcr. ~ S. tmprclion. 1 cmlcr mac m.~i.r a~ ..u~~c Ir t+r m:~J~ rc~•~~nahl~ cnlric. ur.~n and im(kcli~~n~ rf thc Pn.~rl}•• pro~~i~1eJ ih,t 1 rn~icr .t-all ~;i~•~ Ru«ow~r n.•t~cr ~ri~~r t.• anc .~~.h ~m~xcliun ,~xrihm~t rc:~c~mablc rau•c thrnf,~r ~r1:~~cJ h, 1 cndcr'c ~nt~rc~t in ~hc Pro~xrt~~. 9. ('ondcmnali~m. Thr rnk•rcd. ~~f :im• a~~ard ~u rlaim fi~r ~lamaecti, tlirc~i ~~r ~~~n.ryurnti:d. in cc~nnc~lion ~~ith an~• :ondcmnatiun a~r +,thrr ~.~kine ~~f ~fir Yn+~xrly. ~~~ part thrr~•~•f. ~•r ior rom•r~'ance in liru ~,f c~,ndcinnati~,n. :~rn c~rch~• ;~c.icncd an.l .hall F+~ paid t~• 1 cndrr. ~ In Ih~ ~~~cnt ~~f a IiHa! t:~lin~ ~~( th~ i'r~~~rt)~. Ihr pnkcr~l< <h:~ll F-c .ipplir~l t~~ Ihc ~~~mc tir~urCd h)• Ihi~ ~1~~rt~aCC. ~~ith thc ~~~r.c. if an)•. p.~id i~~ Rurn~wrr In ~h~ cvcot ~~f a parti:il ta{.int ~•( thc Pmpcr~~~_ ~~nlc.. R„rn~~~cr :ind 1 cndrr .~therKi~~ aCr~~ in «~ritint. thrr~ ~h.~ll tx; arr~~~.~ ~o th~ .um• ~«urc~l M Ihh \1i~rlc:~g~ ~uch rn~(-~~rli~~n ~~f thi pr~cCdc ac i~ ryual h~ th:U pr~~~x~rti~m uhich th~. am~,u~u ~~f th~ +um. .r:ur~~l he tfii. \tortc.+~c immrcfiatrl~ ~•n.~r t~~ :h~ datc of taking F+carc to thc fair nwrk~t valur ~~f thc 1'ro~rt~• immr~li:dch• pri~•r to 1hc J:~le ~~f t~kina. ~ai1h IhC b.~l:~n~r ~,f ~hc prc~cc~lc paid t~. 8orrow•c~. If thc Propctlt• ic :-handoncd h~ Ri~rr~•~+rr. ~~r if. :-ftcr m~ti~c h~ I rndcr tc~ R~~rr~n~cr lhat thc rnpdcmn„r ~•ficrc m makc • :~n aw~ard ~~r ~etNe a rlaim G~r d:~m:~g~.. B~~rrrv-•er fail. I~~ rr.~~m) t:~ I rnder ~+ithin i/l il:~~. :~f~rr thr d:~tr .uch n~~ti~e ic m:~ilcd. I.rndcr i~ authoriird t~, ~~,Ilrct and apph• thr pr~xrr~l~. :~t ! cndrr'. ~~pti„n_ rith~r ta rc~torati~~n ~~r rrpair ~f ihc Pro~xny ~,r t~, thc sum. ucur~Kl h~ ~hic Mortcacc. Unl~s~ I.cndcr anJ Ro~ru~~cr othrr~•iK :icrec in «ritin!~. am~ tiu:h ap~-lir:+ti~m ~•f pnw~cd~ 1~~ prinii~al ~h:dl not c~tcnd ur ~xxt~~nr th~ du~ datc ~~f th~ mon~hh• in~tallmrnh refcrrrd ti~ in rar:-~raph~ I:~nJ '' hcre.~f ~.r chaner thr am~~unt ~f ,uch in.tallmcnt~. 10. Borrower ~iot Relcaced. f=~trn~ion of the timc fur pa~m.nt or m~~clifir:~~i~m i~t :~m~~rliiati~m nf ~he .um. cerurcd h~• Ih~. ~1~~rtcagc grantcd h~• 1 cnder t~~ am• cuccc~u,r ~n i~i~~rr.t uf Rorraurr .hsll not .•~r:~~r to ~rlcatr. i~i :~nt~ m:~nncr. ~hr liah~li~~• u( thc oricin:d B~~rr~,~cr and B~~rr~w~r'. +u:~r~...r. in inrrrc.t 1 rndcr ~hall n~•t 1x~ rcynirrJ t+~ ri~mmencc rn-c~c.lingti a~ain.t .uch ~uccr~s~~r ur rcfu~c ~~- ~~ICn.1 timr G•r pa}mcnt ~~r ~~thcn+i.r m~xtih• ami~rtirati~m r( Ihr sum~ .ccurcd b~• thi. \lortcagc h~• rca~~.n .•f anc dcm:md madr h~ thr ~~riLinat Rorr~,~~cr .~nd 8~~rn•w•cr c cuc~r.~~,r. in inierc~t. I1. Forbearance bv l.eeder ~ot a N'ai~'er. :\m (~~rtv~arancr M 1 rndrr in c~erci.ine anr richt .~r rrmrd~' htrcimd~r, rr ~~th~n+•i~e atT~•rdeJ hy ~pplir:ihle IaH•. .h:~ll rn,t tx a w•ai~rr ~,t ~•r predude the r~erciu ~~f ~m .uch rieh~ ~•r remed~•. "~hr pr~xurrmcnt of incurancc or thc pa~•mcm ut ta~r~ ~~r ~~Iher lirn, ~~r char~;~~ hc f rndrr .hall nc.t Fxr :~ ~~:~~~'cr ~+f I cn~lcr't rieht t~~ acc~leratr ihe mau~rit~• ~~( thr ind~htcdn~~~ •r:~+md h~ tfii~ \t~rtta~e. 12. Remediec Cumulati~•e. .All rrmeilicti ~rr.id~d in thi. \1~~rtia~c are ~li.tinct :u~d :umulati~•e tc• :~n~ ~~thrr rieht ~~r r~mrJ~' undcr thi, 11~•nc.~ir i•r alT~~rdr.1 !.c la~~~ +~r cyuit~. .~n~l m.~~ f.r r~rr~i.r.i ~~~ncurnml~~. in~lrrcndrnih ~~r .n~:.~••i~~r1ti IJ. Succeccon and A~~i~n+ Buund: .1~int rnd Se~errl l.i•rbiliN: ('apfionc. Thr c~~•enant. and acr~rmrnt. hrrein r~~ni:uncJ ~h~ll hinil. and ~h~ riehtti hcrrundc~ ~halt inurr t~~. th~ r~.{kcts~c'ti~«cc.,.•r~ anJ :r..igm ~~f I rndrr .»id B~~rr~~~.cr. ,:ibjecl to 1h~ pr~n'i~ii~m ~~f 1~~t:~Fr.tph 17 hcr«~(. :\II i~~~'~nantti :uul :~crrrmcnl~ ~~f Bc~rrv~~'~~ ~h:~ll hc j~~int :md ~~~'cr~l. (~hc capti~,n, :~nd hra~lini. nf Ihe p:~ra~;r:~ph. ~f ~hic ~t~~rtc:~tr arr f~,r ri,nvcn~rnr~ ~•nlt• .~nJ arr n~~t t„ tk uu~d to . +nt~rpr~t ar drfi~ic 4h~ pr~~~~~i~~m herc~~i. 14. \ntirc. E~cc~t f~~r an} notire rryuired un~lcr applic.~Mr I;t~a to h~ cicrn u~ am•th~r mannci. !a- :u~~~ noNCC to Bu~n,urr pr~n~iJ~J f~-r ~n Ihic '.11~~rlgaec ~h:~ll hc ci~~cn h~ ni:~ilin~ .urh n,,ucr h~ r~t!ifird m:iil :~ddre„rd tr R~~rr~,:~rr at thr Pr~,~xrt~- A~tdre.. ~~r at .uch other addrr.. a. B~•rr~•NCr ma~ 'Jr.~tn:~tr h~ n,~ur~ t~~ 1 cn~lcr :ic rrr~•i.lr~l hcrrin. and rh1 ;~m out~c~ t~~ ( rn~l~r ~hall tk gi~•cn ht ccrtifi~ti tnail. rrt~rrn r~rc~}~t r~y~:~~tr.l. t~~ 1 ~nJer'. ad~fr~~~ ctatcd hcrcin i~r to .uch i~thcr :iddre5~ :+~ 1 cnJcr nt:i~' dc~ienat~ b~ ~ntic~ t~~ B~~rn+~~rr a+ {~r~,~id<<I hcrcin :1rn~ n~~ti~e: ~r„vidcil l~~r itt thi~ ~1.~rtgagr ~h.~ll tx Jecm~d u~ ha~r Ix~n ei~~n to Bi~rr~ntirr ~,r 1 rndrr ti.hrn c~~rn in thr manncr Jc~i~natcd hrr~in: 15. l~niform ~1ort~a~e: Governin~ i.•a~+: Se~e~rbilih. lhi. t,•rm uf m~~rtLa~_r i~~mhinr~ imif~.rm rn~•en.+nt. G.r n;etinn:~l u~r :+nJ n~~n-unif~~rm i~~~rn:ut~. ~~ith limite~l ~anati~~n. h~ f~!i~,.l,:ti.~n h• ~~«ti,titnt~ a umfann ~rrnrrri' imlr~imCnt r~•vcring rral pm~rt~-. 1~hi, ~1~~rtg:~cc tih:~l! tk iuti~rncd h~ thr 1.:H ~~f ~h~ iuri.~f~it~~m cn .~hi~h thc Prc~~rt~ i. I~katrd. In thc r~~rnt that :,m• ~r~,~~isiun i+r rlauk ~~f thi. \1~~rttiat~ ~~r th~ \~~rr ~~~ntli,t. .~~~t, :~~ri~~.~hlc t:~w. ,urh r~~nflict .h:dl nc~t affcct. ;~th~r ~+r~~ti~i~~m of Ifin ~{utigat;c „r Ihc 'Vi~l~ ~~hi:h ie+~ hr L~~ir~ rlir~t ~~i~h~~nt IhC ~~~ntliclinti ~r~~~i~i~~n. and M this rnd th~ rr~~~i~ium ~,f Ih~ ~1~~rtCate :~nd lh~ \~il~ arc ~1«L~rcd !~~ tw_~~•~r'shl~. 16. Borrower s('op~. Borrc,~vrr .h:~ll h~ furm.hr~l .~ ..m(~~rmcd :~+~~~~ ~~( thc \~~t~ .~n~i ~~f thi. ~i~~rtg:+g~ :H th~ timc ~~! C~ccution ~.f ait~r rc~.~rd.iliilR h~fc~~~- 17. Tranc(er of thc Psupert~: A~tiumptiun. If a{i ~~r :+m i•.ut ~+f thr Pr~~{-~n~• ~•r an intrrcc~ thrrcin is ,~~]d ~•r tr,ancfcrrc~l h~~ Borr~~wrr .+~th„ut L~ndrr'. pri~,r ~~rittrn :~,n.rnt r~:luJing ~.u tht :r~ati:,n of :~ licn ~.r cncumhran~r tiul-ordinatc t~~ thi. tit~~rt~:~ee. IM th~ rrr:iti~r ~~f :- ~ur~h.nr m~,nr~ .rrurii~ intrrrtil f~~r h~~uuhi~l~l :~r~ran~c,. (ci :i tran.(rr M• dcvisc. .1r.rcm ~~r hr ~~~rati~~n ~~i l.~w up.~n thr ~ir:~th ri .~ i~~,nt trn:~nt rr ht~ thr crant uf .in~ ic:~uh~dJ inlcrest ~~f threr )~car. or lc« nut .~,ntainin~: :in ~•pti~~n tu purrha+r. 1 rn~trr m.~~. at 1 ci~drr'. .•}~t~.,n. dr~L~rr :di thr ~um. cc.ured h}~ th~c ~1~-rtgaec t~~ tk ~mm~J~atrlc du~ and pa)•aMr. 1 rnJrr ~hall h.~~r ~+.+r~rd .ii:h ~~rt~~~n t~~ acrrlcr.dr if. pri~~r ti• thc .alc ~~r trancfcr_ (.endcr .inJ thc ~r~~~n t~• Hh~~m thc Pr~~r.rt~- i, ~i~ !x ,~~I.t ~~r tr.imf~rr~d rca:h .~irrrmrnt in urihnc th:~t th~ rrc~lil <.f .u~h pcrti~~n ~.sati~fact~~r• t~. I.endrr and th:~t thr in~~rr.t ra~ahir ~~n th~ ~um. ~r~nrcd M• thi. ~lurteage ~hatl ix :it <nrh rate a: I.cnder ,h.~ll rcyuc.t. If 1 cndrr ha~ w-ai~~c.i thr upti~,~~ t~• arr~icr.+tc pr.~.idcd icti thiti paragr:~ph {7. :md if R:,rmH~rr'. ,uccessor in ~ntcr~.t ha~ crccutcd a wriltrn as~um~tu.n :igrrcmrnt :+~rr~trd in ~+ritinc h~• I rndcr. I.endcr shall rclca~c R~rrowcr from all ~~blikatu,n. un.frr thic !11„rtc:~~c and thc v~~~r. If 1 cndcr c~crii.r. ~urh ~,ptii~n ~~, acrclcr.~tr. I r~~Jrr .h.~il m:~+l Bc~rro:•rr n~iticc c.f accclcralion in :+:r~,rdancc K•i~h ~aragraph 14 hrrcc-f. Surh nulicc ~h:~ll ~r.~vidc .i prn~ki ~~f m~t Ic~~ thai~ ~(1 dac. trc~m !hc datc thr nof+ce is mailcd within titihich B~~rrawcr ma}• p:~~ thc ~um. J«L~rr~i dnr II li•~rr~,:,rr teil. t.r r:,~• ~u~h cnm~ pri~,r t„ thc crpir:~tic,n ~~f ~uch ~ri~.c1. Lrn~}rr m:~~•. ~-ith~~ut iurthcr noticr „r J~mand nn li~,rr„~rr. in<<~I~r :~m rcm~dicti ~+ermrt~r! M• rara¢raph IR hcrrof. Nox-l~ti~~oK~-t Cuvtti.+ti~.+. Bi~rrowcr and LrnJer turthcr ear~cnam and :~grcc as follows~ 18. Acceleration; Remrdies. Except as pro~•ided in para~raph 17 hereof, upon Borrow'er's breach of any covenanf or a~reement of Borrower in ihis ~tort~aRe. includinR the co~enants to pa~• when due an}~ sums secured b~• thts MortRa~e. I.ender prior to acceleratian shall mail not+ce to Borrower ac prorided in para~rapfi 14 i~ereof specifyin~: (1) the breacfi; (2) t6e action required to cure such breach; (3- a date. not less Ihan 30 days from the date the notice k mailed to Borrower. by wh[ch such hreach must be cored; and (4) Ihat failure fo curr such breach on or Frefore the date specifitd (a Ihe notice may resnlt in accclemtion of the sums secured by thic ~torl~a~e. toreclocure b~• judicial proceedinR and wlt of the Properly. 71~e nolice shall further jnForm Botro~-e~ of the riRht to rein~tate after accelerartion and the ri~ht fo acserl in tl~e foreclosure proteedin~ the non-e:istence of a defaulf or am• Mher defense of BorroN~er to acceleration ~nd fonclosurc. If the brtach is not cond oa or beforc the date specified in the nofice. I.ender ~t I.ender s option ma~• declare all of the sums secured by this MortRage to be immediaiely due and payable wilhout further demand and may toreclose this ?~tortR.eRe by judicisl proceedin~. I.ender shall be entitlcd to collect in such proceedinR all expenus of foreclosure. includin~. buf nM limited 10, reasonsbte atton~ty's ftes. and costs of docameotary e~~idence. abst~ncts and litk rcpo~t.s. l9. Borrower's RiRht to Reinstate. Nc~twithstanding I.endcr ~ acccleraUan of the sumt SecureJ by this Mortgage. Borrower shall have the right to ha~e :~m• ptcx:eedin~t~ ixgun hy f.ender to enforce this Mortgage discontinued al any time M ~, - _~Y ",~ __~_ -;~_. n ... _~ ~ ~~-~ 347 Pa~E 2595 .. _~, oR 2f~`~~'~37 e~x34s PAGE ~s ~~~f~~