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HomeMy WebLinkAbout1641~ t , , . I rnJri'. ~~nurn :~~rr~m~nt ~~r :~ppli..~hl~ I.~~~ li~,rrvc~~r ~h.~U ~,a~ ihr :im,~un~ uf .~II m~~rt-~.~~r in.ur.~n:r prrmiwi~. in ihr m.mnrr ri„~idr~l und~r ~~ara~r.iph '_ hcrec~l ~n~ amu~inh ili.hur~r.l h~' 1 an~l~r ~~ur.u:~nt t~~ ~hi~ ~.~r.~L-:~{.h ' ~~~ih unrrr.t Ihrrrun. ~h.~U hr:~,nir :ldJii~~~n:~l tn~l~•h+t~lnr,~ ~~f Ii~~ir~~t~~r .r~urcd M• ihi. \1i~rli.~~~ l nl~•.~ li~~r~~~t~rf .~n~l 1 rn~l~r .~Lr«~ 1~~ ~Nhrr tcrnl~ i~l ~~:~vmcnl. ~u~h :un„nnt..h.Jl Fx p.~~aMr ~i{~,,n nt~ti:e fr~~nt I.~ndrr i~~ li~~rr~~~~r~ r~.~ur.tii~~ {~.c~nt.•i~t ~hrrr~~t. :~~ul .h,il) I~r.ir in~rrr.i fmm th~ ~iatr ~•f di.hur.rmrnt al ih~ cah• ~.n•:~hlr fr,~m timc a. ~imr ,~n nnntandine prin.i~al undcr thr \~1tc unk., paymcnt of intcr~~l :~1 ~u.h r.~lr ~~i~ul~l ht <<~ntr.In t~~ .~r~li~ahlc 1.~~~. in ~~h~~h r~rni ~uih am~~~~nt~ ~hal) Fkar ~n~cr«t :~~ Ihr hi~hetl r~tc {krrnissihlr umlrr :q~~lirabtr la~~. ?~~~~hink r~~n!aincJ in Ihi. ~ar:~cra~h 7~hall rcyuirr 1 cnd~r t~- m~ur am r~{xmc ~r takc .~nv :~ction hrrrundcr. 8. Impcclion. 1 cn~lrr ma~ m.i{.r ~•r:.~i~.r Io t+r rn:~~l~ rra.~~nahlc ~n~rii. u~,,m and in~Exrti~,m ~~t thr Pm~xrt)•. pr~,vi~lcd th.~t 1 rn~le~ ~h:~ll ei~~ Rc~rmti~r n~~hr~ E~ri~~r to am~ ~nrh im~KCti~~n ~~xrif~ing rc.~a.nahle rau.r th~r~f~•r rrlat~d t~~ 1 endcr'ti intrr..l in thr 1'ru~r1~'. 9. ('ondcmnation. Th~ ~n~:rcd. uf am• a~~ard a~ rlaim fc,r ~lamaer,. ~lirrr~ ~~r c~~n.ryucntial. in r~~nnccli~,n wi~h am~ :und~mn:~~i~~n ~~r athrr tal.ing ~~f th~ Pru~•rrt~'. ~~r part ~hcrr~~f. ~-r f~~r c~~m~r~•anrc in liru i,f ~i+ndcmnatiun. :~rr h~rrM• :i..i~ncd :tflil ~hall h~ rlid t~~ ~ Cnl~t ~. In Ih< <t~M i~f a ~~~t:~l t:~kine ~~f Ih~ Pr~•~xrt~~. ~hr E~n~~c~~k .t,an i~ :~~~~~<<i 1~• Ihc ~um~ ~:ured h~• ~hi~ \1i~rtg:+l~r. ~~ilh ihr ~~r~~c. i( am'• (':~id t~~ R~~nr~~rr In Ihe c~'~n1 ~~f a partial t:~l~n~ ~~( Ih~ Pr~~x:rt~'. ~inlr.~ R~~rru~~rr :md I cnd.r ~~~hcrtii.r a~r« ii~ ~~rituiL~. Ihrtr ,h:~ll tk ~~~r«i 1~~ ~i~r ~um~ ~«urrJ h~ thi. ~ti,rti.~Lr ~i~~h,~rVp~±I,tiun ~~( th~ ~~rcxccdc ~ ~. • . -.~ ~ ~ ~ .~ . ~ ~;. -.:. 1::~:t..;.... e....::d::lel~' sti.. .;. ~-;c t!3!c t~6 :iG i~ a:yiid~ i~i in:it ~1i~\~~.~~iii~iii ~Lui~~i i ~i .ii:iaiiiii~ (i~ ~~ i~~~iiii: .i~iii~~ iu~~ . u j. taking Fxan to thr fair mar{.rt ~~alur .•f thr Prv~xr~~~ immi~li:~~cl~ pri~~r t~~ thr .latc ~,f takin~. ~~ iih ~hr h.~iancr ~~f thc pr~kr~.l~ p:~id t~~ B~rr~~w•er. If thc Prc.rcrt~• iti ahandrnc~! h~ R~~rr~~~~rr. ur i!. :~ftrr m~ti~r h~• 1 rndrr t,~ Brrr~~~vrr thal thc rnndcmn~,r ~,1Tcrc t~, makc :in :~w.~rd ~~r ~cltlr a.laim l~~r ~I:uii.~_r~. Rvrr~~H•rr (:iil. t~~ rr~n.~iul 1~~ 1 rn~lrr ~~ithin z11 ~la~~ :~ft~r Ihr ~lat. ~u:h n~±licr i~ mailyd. I.rndrr i. au~hc,rirrd to r~•ll~rt anJ aprl~~ thr rm.•rrd.. at 1 cn~lrr'. ~~~li~~n. ~ilhcr t~. rc.tora~i~~n ~~r rr~air c.f thc Pr.~~rt~ i~r t~• thc ~tun..r:urcd h~ ~hi~ M~utcaec. l'nl~s, I cn~icr :ind R~-rr.~~~rr ~thcn~•i.r a¢rer in ~~ritin~•. :~m ~u:h :~~,~fi..~~~~~n ~•f pn.rccd~ t~, rrin:ir•.~l .ir.ill n:~t c~tcnd i~r (H~~~p~~ne ~h~ duc J:iIC ~~j th~ m~,mhl~~ inst:dl[ltinl~ *zl~rr.d ~~~ in F~:~r.~era{~h~ I:~nd ~ hcRt~f rr ~h:ut~•~ thc anti~unl ~~f ~u~h in:tallntcntti. 10. Borroµ~er ~ol Rele:~ced. 1?~~cnci~n ~.f thr timr f.~r {~:i~mrnt ~~r m~Klifirati~~n i.f .~m~~rti~ati~~n ~.f thc .um. ~ccured h~' th~~ ~1~.nra~r gr.~ntcJ h~~ 1 cn.l~r t~~ am• wcrc~~~,r in intrm.t ~~f R~~rm~~~r .hall n~•i i•E•rra~r k, rclcatic. in am• manner. thc IuF.ih:v ~~I Ih< <.riLin:~l Rurr<~~~cr :~nd R~~rn,wrr'. tiui.•r,.~~r. in intrrc,l 1~n~icr ~hall ni.t hc rr.~~iirr.l t~, r~~mmcncc ltf~k~l~~ttll• :1_l':~111\f •tl~~l ~Ul'i«\t~f 1~f fl`~UK` (~~ l'\Il`Il~~ Illt)l' ~~~~ ~1.1\'(11~111 i~f /~tFtl'f~~1~C m~xtih~ :,m~~rtir:ill~~I1 ~~~ 1F1~ SIIIIIt ~r:urrJ hv thi.'~1~~ngagr h~• r~a~un ~+( .m~ drm.in~1 mad~ h~ thr .,ricinal Rorr~,~~~r .in~1 13nrruti~~rr'. «~ccr..~~n in intrrect. I1. Forbearance M• Ixnder \ut a~ N'ai~er. :~m I~~~F•rarancr h~ I rndrr in e~c~ri~ine :~m riLht ~~r r~m~d~ hrrcim~l~r. ~~r ~~Ihrr~~i~c alT~~rdcJ h~ a~~-li~ahlr I.~w•. ~h:~ll rn~t tx .~ w:ii~~r ~~~ ~•s prCCludr th< <~trci+r ~,f am, ~u~h ri~~hl ~~r rrmcd~ Thr ~rckur~mcnt i~f in,uranr< <~r thr pa~•mcnt ~~f t:~~r. ~~~ ~,th~r licn~ ~n char,_~. h~~ 1 cnd~~r ,hall n~t 1~ .~ ~,.~nrr ~~f I cnJcr'~ right t~~ acr~lrr:~t~ thr maturi~~ ~.( th~ mdrhirdnr...r:~irr~l M thi. \1i~rtcaLr. . 12. Remcdics ('untulati~•r. '111 rrnuJir~ ~n~~idrd in ~hi. \1i~rtLacc arr di,tin~t ;~n~i riunulati~•c t~, .im ,~thrr richt •~r r~r~:~.i~ un~rr thi. ~1~~rt~_,icr ~~r atT~~rJr~i h~~ la~~ ~.r r.iui~~. .,n~) m:~~ tx r~rrci,~~l ~uncurrrnth. indc~~~ndcnth ~,r ;~~.•~<<.i~~rl~ 13. Surce~tiorc and .•~~tiiKn~ Buund: Joint and Sr~cr•rl I.i•rbililc: ('•rptivn~. ~Ih~ c~•~rnant~ :~nd .iercrmrnt. hrr~in rc~nt.~~nrJ .h:~ll hinJ. .ind thr ri~ht. hrrcunJcr ~h:~l) ~niirc 1+~. th~ rr.pr~ti~r ~ncct.,~~r~ and :n,iLn. uf 1~n~l~•i .~nJ li~~rr~~~cr_ ,ubj~.t t~~ Ihc pr~~~i.iam ~~f ~~araLreph 17 hrr«.~ •~Il i~,~'rr..~nt. :~n~l :~~•rrrntrnt. ~~f B~~rr.~:~cr tih:~ll F~ i,~:nt .uid ~r~cral. Thc capti~m. :~rnf hca~iing. ~•f Ihr par:iir.~rh. rf thi~ ~1~~r1_~.~~~r arc f~~r i+~m~rnicni~ ~~nh• :m~l arc n~~l !~~ h.~ u«d t~~ int~rE~rcl ~~r dcfinr th~ ~m~~~ii~nti hrra~f. 14. \oticc. E~~c~~t fi,r am' not~~c ~ryuirrJ ~m~tLr :~~~~li::~tdr I:n~ t~~ hr i~vcn in :~n~~thcr manncr. f:~l :+m• n~,tirc t~~ Biarrw~r ~r~~.iJrd f~u in thi~ ~i~~rtga~r ~hall hc ~i~cn h~ nt.uline .ii.h rn~I~~~ h~ i~rUficd mail addrr~.~il t~~ R:~rr~+~~cr ;ft thc PrrExrt)~ :~~idre.• ~~r at .uch u~htr aJdrr.. :~. Ii,•rn~~~rr m.~~ dr~i~•n:~tr h~ rn~ti:r t~• 1 ~ndrr :ie ~r~,~•i~lr~1 hrrrin. and fh- :tnt n~~tic~ !i~ 1 rn~irr ~h.~ll hr ~i~~n h~ crrtifi~J in.ul. rrtz~rn rr~rr~~t rryui~trcl. t~~ I~nsler'~ c~dJrcti~ ctatcd hcrrin ~~r to .nch rthrr :idJr~ti. .~. 1~nJ~r ma~ ~I«i~natr h~ n~~ti:r t~~ B~~rr~~~~rr :i, rr~~~i.lr~1 h~rrin :~nc nuli:r pr.,~•i.IrJ f~,r in thic \1.~rt~:~~r ~h:~ll F.~ Jrcmr~i t~~ h:i~c F+~rn Li•rn t~, Bi•rr,~~+rr ~•r I rn.lrr ~.~hrn gi~rn in Ih~ m.innrr ~ir,i~n:~tcd hrrcin. I5. ('niform ~1urt~;akc: Go~crnin~ I.aN: Sc~crabilit}. Ifi~-. t~~rm ~:t mrrt~~aLr ~_~~mhine~ iinif~•rm r~..•cnant. f~~r n:~ti~,n.,l lNl' :1f1~~ .'l~~fi'Ulllf~`fltl ~~~\l'I1:i111• \\11F1 ~Illll~l'~~ ~:1fl:~h„n. h~ IIIfh~~hlt:~~l 1~` C~~il~(t;Ull' :1 Ulll~ll~fl! ~l'i!li!1~' I~ltilitllill'IlI c~,~~rring r~al rn+~xrt~. "~hi. ~lurtt:~~~ ~h.~ll tx ~r~rrn~J h~ th~ 1.~~~ ,~f th~ iuri.,l[:t•~~n :n ~+hi~h thr Pr~.~xrt~ i. i~~L.~t«i In thc r~~rnt lh,~t :+nv rri~~•i,~~~n ~~r rlai+~r ~~t lhi. ~1~~n_~.t~~r ,~r thc \.•Ir ;~~nt1i,I, uilh .erE~!i~.~M~ I:na. ,u~h t'tmflicf .h:dl n~~! : fTCCt ~vhrr ~r~~~i.i.~m ~~f Ih+~ ~1~~rlt.~_'~ ~~r !hi \i~t.• :~hi.h ..u~ hr _r.~n ~ITcil ~~i~h~~ul fhe i~~nt's:!i~t~ ~r~ni~i~•n. :~ni1 Ic~ thit rnJ Ihr F•n~~i~iu:i~ ~~1 thr \1~~rtLacr .intl Ihr \,~I~ :~rr ,1rrl.ircd t,~ f.r ,<<•r-:-hli. 16. BorroNeiti ('op~. B~~rr.~~+r- .h.~ll ~r furtu.h~.l .~ c,,si~.~nnrd :~~~~~ :~t th~ \„t~ .~n.l ~~i Ihi, ~1:~tI~_at~e :~I th~ timc uf c~r.irti~~n ~~r :~ftcr rrr~~rJa~ion here~~f. 17. Trancfcr of thc Property: :~~~umption. li ;JI ~~r :~n~.~;~.~rt ~~t thc Pr~~t~rrt~ ~~r :~n ,ntrrc.t thrrr~n i. .~~Id ~~r tramfcrred ht Born~~~~r ~+~Ih~~ut I.rnder'~ pn~~r ~~ri~lrn i~~n~rnt. r~Ju~linL i.~~ thc .rr.~ti~,n .~f a lirr~ ~•r cnitimhr.~n~c tiuh~~niin:AC t~~ lhi. V~~rlg:~ge. Ihl th~ crr~~i~n ~~f .t ~-ur:h.i.r tn~v~r~ •r:urit~ intrr~~t frr h~•;i.~h„1~1 :~~~.li:~nr«. 1~~ .~ tran.frr M~ dcvisc. ~Ic~«nt ~~r h~ u~kratii~n u~ L~« up~~n thr ~ir:~th ~~t .i ?~~i~it tinant ~~r (~1~ th~ L(JIII ~~f .~m li.~~~h~dd int~rr~t rf threr c~.u~ ~~r lc« n„t ~~•nt:~inin~ :~n ~,rtiun t„ ~,ur~h:~,u. I rndrr m.n. .~t 1 rn.1~r'~ ~~E~t~~,r.. ~k~i.~rr :~11 thc ~um. ~rc~~rrd M thi~ \1~~rt~aec ti~ F+c unmr.'.i:drl~ du~ :ind p:~~~ahlr. I rndrr .h:~ll h:i~~ .~.:i~rd •ii,h ~~pti~,n s,• acrrlrr.itr il. ~ri~.r t~• th~ ..~Ir ~~r trancfcr. I.cndcr an~l Ihr ~xr~~~n t~~ wh~~m thr Pr~~r.n~ i. ~~~ hr .~~tJ ~~r tr.~n.tcrr~~1 rc;~:h .i_rcrmrnt in ~r~tn~c th:~t thr :rrJit ~~f .urh pcr.on i. s;itictact~~n t~~ 1 rn.lrr .~nd th.~t thr intcrr.t ~.a~.~hk ~~n thr .um. .~iurrd h~ thi. ~1rrt_~ace ~h:~ll hc :d tn~h ratc ati I.cnder ~h.~ll rr.~u~~~. If I cndrr h:i~ N-aiccil thr nptirn 1~~ :~cc~~rr.~tr rr:~~idii! in thi~ p:~r.~~r.~ph 17. :~nd if Rc~rroµcr'. ~ucccss~~r in intcrc,t h:~~ r~e~utc~l a«rittrn astium~uun a~rr~nunt arir~~trd in ~~riunc h~ I rn~lcr. I cnilcr ~hall rcl~:~~c B~•rnn.cr from all ~~blicatu~n~ un.trr thi~ ~t~,rtc.~ic and th~ ~~H~. If 1 cnder e~~rci~~, w~h ~~pti~~n Ir a~:~t~r.~ir. I rn~irr .h.~ll rnail Ii„rr~~~.cr n~~Uc~ ~~f arcclcrati~~n in ar~~rdanrc «ith p:~raer~ph I~3 hcr~~f. Surh nutirc ~h:~ll ~~mviJr .i (xrn:~t .+f n~~t Ict. Ihan ?(1 ~lac, fr~~m Ihc datc Ihc !tolicc ic m:+iled w~ithin :+h~rh R~+rr~,acr m:~~ ~a~ thc .um. ~c~lar~J di~r It B~~rru~~rr t.~~l~ t~~ p,~~ ,urh .~im. pri~,r tu th~ r~pirati~~n ~~f 4u.h ~xri~~t1. i rn~frr mac. ~cith~~ut f~~rthrr n:•ticr ~,r ~i~mand ~~n K~.:n~~,rr. ~n.~,{,c :~n~ rrmrdicc ~xrmiUc:l h~• raragraph I~t hcrcof. tiox-l'tiitoK~t Cu~~tx.~~Tti. Brrrowcr and 1 rndcr (urther covcnant and aercc a~ follc~ws: IS. Acceleration: Remedies. Except as pm~ided in paraRr~ph 17 hereof, upon Borro~+~ers breach of an~~ co~•eoanf or a~reement of Bonow•e~ in Ihis ~iorfRa~e, includinR the co~enants lo pa~ w~hen due an}~ sums secured by this :NortRage. t.ender prior lo acceleration si~aii mail notice to BorroNer ac pro~ided in para~raph 14 hereof specif~•in~: (1) the breach: (2) the adion required fo cure such breach; (3) a date, not les~ th•an 30 da~s fn-m Ihe d~te the notice ~s mailed fo Borrovrer. by which such breach muct be cured; and (4) that failurc to cure such breach on or before the date specified in the notice may resnlt in acreleration of the sums secured by this ~tort~a~e. foreclosure b~• judicial proceedinR and sale of the Property. 77ie notice sh~ll further inform Borrovrer of the ri~ht to reimtate after acceleration and fhe riRht to acserf in the foreclosurc proceedinR Ihe non•existence of a default or ~m• other detence of Rorrow•er to 9cceleration and foreclosurc. If the breach is not cnred on or before the date specified in the notice. I.ender at I.ender's option may declarc aD of the sums securcd by this MortRa~e to be immediately due and payable w•ithout further demand and ma}• foreclose this•~tort~;a~;e by judicial proceedin~. Lender shWl be entitled to coilect in such proceedinR all expenses of foreclosurc. includinR, but not limited to. reawnable attorney's fees. and costs of docamentan e~idence. atntracts and litle reports. 19. Borrower's Ri~ht to Reinstate. NotHith~tanding LrnJer'~ ac~eleratron of the sumc ~ecured by this titortgage. Borrower shall havc the right to havc :~m prckccding~ tngun h~ i.cndcr to enforcc thi, ;~1or~gagc discontinucd at any time a~~350 ~~~i639 _~~ _. _ ~_~. __ - - _ _ .~. :