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HomeMy WebLinkAbout1026H. Ine{x ction. l.en~lrr muy mukr ur cuuse tu tk~ m-id~• r~•ue~un.~blerntrir~ upun .ind insFxr•tiuns uf tlie property, pro~~ided that I.enzlrr ~h:-11 F~\'t~ I~~RUK~rr nuticr priur to s-ny reurh in:~Ex~c•tiun ti{wr•ifying n:~,unublr c.wwi~ thi~refur rc•I.~ted tu IA•nder'y interest in the F'roperty. H. ('ondemnxtiun. 7'he prucivvls uf ctn~~ uwurd ur claim (ur <luma~;t~s, dirtY•t ur cunwir~u~•ntial, in cunrn~•tiun with any n,ndrmnati„n ur ~~ther tt~kinK uf the prupc•rty, ur {.~.irt thcr~~~f, ur fur ~•~.n~•~•yancY in lieu uf ~,~nd~•~nnuliun, :in• h~v~~b~• ;isci~;ned .~-,~i ~E~.-u t~ ~~-~a ~~, ik~~i~~. In the r~•~•nt uf s~ d~ta~! tukin~ uf th~• PruFx•rty, tht• pnx•~r•ds,h:+ll I~r :ippli~til tu thr wums sri•ur~r! I~y th~s M1turt~;.~Ke, vrith thr rxcr.s, iF:~ny, (~.il(I W I;URUWPr. In the rvcnt uC u partial L;~kinK nf the f'mFx•rty, un~e+s liurru«•er .~nd l~•ndrr uthrrw•iu• aKnti~ io wr-tisiK, thrre whuU t.r .tppli~v! tu the ,umv ,~Y•unK~ b~• this 11ort~;uge tiu~•h pn~{x~rtiun ~~f thi~ prucc~vlv us ie: ~~~ual tu th.it prupurtiun which thr amuunt uf thr ;:ums .wcured h}~ thiw 1lurtti.~ke immttili:itely priur tu thc• dut~~ uf t:ikinK tk~~rs p~ th~~ f.~ir m.irket v.~lu~•ufthe• f'ruprrtp immedi.itrly' priurtu ihed.~truf ~uk~nk, w•ith thc bal;tncr uf thc• pr~x•.~•d~ paid to liurn~wer. 1 f t`~~~ 1'n~prrty i. ab,indun~K1 b~• fiorruw~er, ur if, after nuticr hy I A•nd~•r tu liurruwrr tht~t the cundr~nnurnffera tu mukr an ~tw•ard ur settte.- . L~iin fur d:-n~aKrs, IiurruN~er fails t~~ rc•+{M~nd tu 1 xnd~~r within :t11 d.-}•s .~fter the datr such nutict• ~+ m;iilcrl, l,endc•r i, authurizad w cullec•t .-ni~ ~pplr the pr~K•~~v1s, .it IAndrr G optiun, rither tu rrsturuliun ur r~•pair uf thr pru}xrh• or tu t1~r tium~ .t~•und by thiK ~1urt~atie. l'nlesv I~•nder.~nd 13~~rruN•er uth~~rH•i:ce;+~;nY• in H•ritin~;, any ~uch ap~~li<<~tiun of pr~K•e~~dstu prin~•ip.il shall not extend or ~x,.t{wne thrdur ~l:it~• uf thi• munthly in.tull~nrnts ref~•rnd tu in paru~;r.~phti 1 und '' h~•rruf nr chan~;~~ th~• umuunt ~~f such i;~st:illmrns.ti ~u. BorruN•~~r 1ut N~d~~a~~~•d. F:xt~•n~i~~n ~~f th~• ti~nr fur ~rn•m ~nt ~~r ~u~xiifi~ ;~tiun uf am~~rtv:~tiun ~~Cth~•:um. ~~~und hy this ~1urt~;:~y;r ~r.~nt~•d h~• 1~•ndrr tu :iny .ur~•r::sur ~n inte~n•.t uf 1{nrr~~H rr xhall n~~t ~~p~•r:~t~~ t~~ rt•1~•~„~•, in :~.i}• ~uann~•r. thr .i.~i~ilit~ ~~f thr ur~K~nal liurruKrr ui~i li„rr~~~si•r~. suc~~r..nr~ in int~•rt•vt. I ~•nde•r .h:ill m~t I~e• ri~{uinri t~~ ~•~~mm~•ti~•~• pruriv~eli~~y;~ :.~;:~+.n.t .u~~h ~ui~c~•ss:,r ~~r n~fu~~r t~~ ~~xtrnd t~rnr r{r~~ ~n~•nt ~~r~~ttirn~i.r ni+~~lif}• unu~rtii:~ti~~n ~~f th~•,um..~•~~ur~•~) h~ thi: ~turtk;~~r h~ n;~.~~n ~~t :u~~ ~1~•in:uid m:ul~• i~~ th,•~~n~;~nalli„rruurr ~nd Ii~~rn~~~~i•r'..ui•r~~:.~~r. in intrn~.t. 11. M'orb~•aranc~• by I.ender \'ot t~ W'ui~•~•r. :\n>• fnrtx•~tr:uicr h~~ 1.~•ndt•r in ~•xrrri.in~; :~nt• ri~;ht ur rr~r.cv1~• h~•rrundrr, ur ~,±h~•rw~.c• : f~~rd~Y1 I~y applicabli• lu~~•, shull nut i~• a~cai~•~~r ~~f ~~r pre~•ludr ihe• rx~•n•iw• ~~f ,~n~ ~u~•h ri~;i~t ~~r rrm~rly. "!'he• prucun•tn~•nt ~,f insur.~ncr ~~r thr :~.~> mrnt uf tuxrs :~r ulht~r lirn. ~~r ~~harki~s by I.e•ndrr sh.-11 nut 1k• n~~ai~-~•r uf 1 A•nder', riRht tn ,~c~~~•lrr:st.• the• matunt~• uf the ~nd~•btc~ln.•,s ,~•~ ured b~• thix hlurt~a~;~•. i-'. Nemt~dit•y ('umulativ~•.:VI n•mr1lirs pn~~~idrd in thiti \i~~rt~a~;t• art•di~tinct und +•u~nuluti~~~• tu any uthE•~ nkht ~~r rF•m~~1~~ undrr thi. \t.~rtra~;f• ur affurdrd hy law nr tY~uit}~, and ~n.~}• trr t•xc•n•iu~~i cnncurrrntly, indt~Fxmdentl~• ~,r ,uc~~r:.i~•eh•. i i v .•.....~...-., ....,~ .~.~~:~;;~ u......a. ~,.:... ....a y:~:•:--::t t ,~.:i:.. - i• ~..: •r-;.. ..i . „- - ---.. ~.,." --- . -.... __. ,::1:_~~ . .. . . ....... ...... ....... .........., ....... ...... ....... .... . .. , .. ... . ..... , .. .._ . .. .._ ... .. ... _ ... .. .. . . ... ... .. _.. _.. .. .. ~ . . . ' -- - . .. . ~ _ ..- - ~;nd. :~nd th~• ri~;ht. hc~n~unda~r sh:~ll inur~~ t:~, the n•vpe•ctivi• wcce•s+i.r. and a~s~~;ns uf L~•n~1e•r :~nd Fi~~rn~~+~t•r. ,ub~c~~t t~~ :lic• pn~e~siun. uf ,~.,r,i~;r:i~~h 1~ hi•ra~~f. :1ll ~~~~rrn:intti :~nd akre~e~-n~~nt, ~~f 1{urru~n~•r shal! br ~uint und sr~~c•r:~l.'1'hr ~•.eptirn. and hra~iin~;. ~,f chf• p:~r.+Kraphs nf +i~i. \l~~r,k:iy;~• :~rt• fur ~•~~~~~nirnc~• unlc .~nd :~re n~~t b~ !rt• u~w1 t~~ intrrpre•t nr defin~• thN pru~•i~i~~ns herr~~f { l. \i~ti~•e•. h:~.~~~pt f~~r :~n> n~~h~•r rryuirrd unii~•r:~p~rli~~:ihl~• L«,• t~~ f~~• ~;~vrn ~n ,~n~~th •r m.~nne•r. ~:~ ~;in~ ~z~~ti~ ~~!~~ 1{~~truurr prn~ ~~~, ~i inr ~n ~t~~s :~t~~rtka~;c~xh:~ll br~;i~rn }~~• ~n.~ilink a~cli nuh~•r b}~ rrrt~ti~~! rna~l:~d~lrr..~~~1 t~~ Knrr~~w~c•rut th~• f'zup~•rt~ A~l~irr.,~~rat.uc~h ~.thrr:id~3rr.s ci. }';,rr~~~ti~•r m:i~~ d<~~i~;si:~te h~~ nntic~~ tu IA•nd~•r .~. pn~ci~i~~e~ h~•re•~n. anei ~ h~ ,~n}- n~~t~r~• tu Iw•n~lt•r .hall ia• kic~•n hc ~~rrt.fi~~l ma~l. rt-turn re-~ c•~pt r•ti~lt~~.!e~il. tn 1 a~n~l~~r': :~ddr~•.. ,t:+t~ri ht•n•rn ur tu wch uthrr addn•s. ati I ~•nd~•r mc+~- d~•siy;n.~t~~ hr n+~tirr t,~ iiu: r~~~crr ,i< pn~~~ide~i he•r~•in- :1n~~ :~~ti~ ~- pr~ni~l~•d l~~r in this \1~zrt~;:~kr.h:~ll hc~decnt.rl to ha~~• ht~~n ~;tai~-i t~~ F{~:rn~~crr~~r I~•n~i~~r ~cl~rn ~;~crn iri thr rti:~nnr•rdr.~y;nat~rl h~rc•in ;: ~. ('nif~~rm ~lurt};s~~;~~: Cu~~~•rnin~; I.a~~•: tie~vi~r:~bility.'1'his G~rin ~~f tu.,rt};:~~;~~~ ~~tnhinr~ unif~~rm ~~,~cc•n:+nt. frsr u:~ci~~nal u~.•.~nd n~~n ~:ti~~rtn ~,~~~•~~.~nt:. w~th limit~~~1 ~:~n;iti~,n, h~ Jun~di~~ti~n~ t~~run.[~tut~•:i unif~~nn>~•~~unt~ in:trun~~•nt ~~~.~e•~:n~: rt•:~1 pr~~prrtc 'I~h~~ ~1urtK.~Ke !.~I1 h~• R~~~ern«ti1 h~• tt~~• law• ~~f th~• ~uriseli~~ti~~n in ti~l:u h the• 1'rnp: rtt~ i. Inr,~t~r! (n ih~~ ~•cr:it that ..~i~ p:~~c~~inn nreLiu`r ~.f this \lnrt~{.tKr ur ' •~~• \~~ti• e ~~n~li~ t~ ~eith :~F~Frltr:~i~b• I::tic. ~iti h ~ ~~n~lii•t .h:ill n~~t :ir"fe~~•t ~~ttu~r pr~,~ ~sir~n~ ~~f thi~ \L;zt~,~~~;r ~~r thr \„t.~ u Fui~t: , ;en ~• ~:~et•n rffrrt ~~!!jluttl C11P ~~•rP~ilt'!!!11; iifu~~l-lnt:. :i:l(~ '.n .}115 ~'.U: :}i~• p';i`.":~:n:l. u: :~t~~ Si~.i"L~;:1~;~• litl~~ i}l~~ ~r;(1- .if/• i~rl~~.lll•i~ C~~ !y >r~~.~f,:~~ir. lfi. R~-rr:ia•~•r's ('t~py. li~~rn,~~t•r nh:~ll hi• furni;ti.r! .i ~•~~nf„rm~yi ~ u~n~ ~~f ih~• \~~tr :~n~l nf tt:is ~1nrt~;<i~;r :~[ ?hc• ti:n~• ~~f t•xcrucinn nr:ift.•r ~,•~nlati~~s~ h~•n•ui. 1:. 7'r.~nxfer of the 1'n~pt~rt3; :~.s-~mption. !f :~ll ~~r ;tn~~ {,:~rt ~~f thr f'r~~p~•rt} ~~r :+n inte•re~~t thrrc~in ~~ ~~~ld ur tr.ir:fe•rn•d },~ K~~R~iNr{ .. r.h~~u: I.c•nd~~r':-: prinr H~nU~•n r:~n~«~nt, rxi~ludin~; r.i~ thr c~re•:~ti~~n nf a lu•n ~.f ~•A~'L'f11I~r:+r.~~i~ ~uh„riiin.~t~~ t~~ th:. \lurtk.iy;r•_ :h~ thc• ~ rrauun ~~f ~i :~u:: h:~•i• m,~nc•~• sf-. uriti• intrrrtit f•~r huus~•h~~l~! :~ppli:~ni~t•s, ~~~, :i tr:-n;t~•n c~ ~i~•~ i.e. ~1:•.~ r•nt ~~r ~,~~ ~.Ex•r.-ti~~n ~~f l:iw• up„n thr d~•ath ni a j~~int ~~i:snt ~~r ~di th~~ Rr:~nt uf :~n~~ t+:~~rh~~l~1 int~~r~•.t ~~f tttrt•r ~~~~:u~ ~~r 1~•,: n,~t i~unt:~inin~ an ~~ph~~n t~~ purch:~~r. I.~•ndc•r m:~ ~.:st l.~•r~df•r'~ ~~p!i~~n. i~ ~ ian :~!) th~- s~;~n, :t•~~ur~ti~ h~~ thi~ \1~~rt~:~~;r tn h~• :rnn:~•di.~tt•i~• ~lur :~n~l p:i~•aii~lF• 1.~•~icft•r sta~l{I ~l:l~'t' \4:11CfYj ~u~ h~~pnnri t~,:i~ rrirrc.t.•:f. pn~~r ~~ th~•.:~1~• nr [rxn~frr, ! ~•nri~•r.~nd thr p~~r~nn U~ ~~ h~~~n :h~• f'~~~pt•rt~ i~ a~ l~~~ .~~i~! ~~r tr.;n~f~•rrtV! n:~:-ti :~~r. t•nu•nt ~n ~'ntink th.st th~•rnY3~t ~~f :~:~ h .,,.ra~~n t. ~:~ti..f:~~ t~~n t~~ I.rn~l~•r :ir.~i tlf:~t +h~• trit~•n•.t E~~~~:~f~i~~ ~~n tii.• ~u~n• •~~~ un•~+ h~~ tt~t. 11~~rt~::~~~• ,ti;~l! !h• :e! .ui h r.et~• :~: 1~•n~1~•r <h.~i( -••yu~•.t. If (~•n~L•r h.~. ~c,~iet•~1 th~• ~;pt:~~n t„ .irr~•l~•r:~te• E~r~~c~~l~~~! sn tt:~~ j~:ir:it~r:~,,h ;~. .+n~l if f?~~rr~~~.~~•r~<..u~ ~ r.~~.r ~r: in!.-r•~:t tca< <•s~•i ut~tii ;: ~- r~tt~•n :~.::uniF~tiun :irrt~.•:ne•nt ;~r~~~•~~tevl u~ «ntin~; h~ 1 .~ n::~ r. l.~~n~i~•r.h:~ll :~~Ira~r {t~~rr~.~.e~~r }r;.ni :~li ~~hi~~:.~t:~.n~ un~irr*.}it: ~1~~rtka~t ;u:~i t'tar \ nt~•. - If Le•ndrr e•xt•ri i.r- :u~~h npti~~n t~~ :~~~~~~•'t~•r:it~•. I.~ ~i<l~•r.}z.~il ~n.iil ft,~rs~~H~•r nntirr i~f:~i ~•~•1~~,-:iu~~ti tn :~c ~~~r~l:~n~ r utth p:ir:iRr +ph : ~ ht•r.~,f ~::~ h nutii~~•.}~.~11 pn~~ id~ u pe~ri~~il~~Cn~~t 1~.~ th:+n.i!'~1;~}. fn~rn!iu ~i:it,•th~• n,~tu ~~ i~ r,,,iil~•~! ~.etth:ti ~tinirh fi~~rn~~.~•r:n.i•: p.~~ ttt.••u:ii~~l~~c l:trt-d :u~• If li~~rr~~~srr !:ul= tu F,:i~ ,u~ }i :un~: {,•i~~r t,~ thr ~•~~rir.it~~~n ~.: -u~ h E~, n~~,i. i.~•n~l~•r ~n:it. ~+ittn~ut furth~~: n"ur~• „r ~i~~:~;::nd ~~r. l;~~rr.~u••r. :n~~~kr•:in~~ re•m~~aiie•~ ~~~~rrrutt~~l i~~ E~:~r,~Rrnuh I~ hrn•~~f Iti. Accel~•r.~tiun; N~•m~•di~•~. Ex~•t•pt :~~ provid~~d in parakr.~ph 17 her~ti,f, u~un BorruHt~r's brc•ach of xm• c-u~~e•nant or aKrr~•m~•nt uf 13~-rn-we•r in this ~turt~;aK~~, inclu~link th~• cu~'i~n:~nts tu pa~ wh~•n du~• any tiun~s.rrur~•d by thi+ Nurtka~;e, Lender ~iri~-r to a~cct•Ie~r:-tion sh.-11 mail notire• tu 13urr~-w•t•r as pr~-vid~~d in par.~~r:~ph 14 ht•r~•uf tip~•cifyinK: i I 1 the hrearh; ~'~) the actiun r~•yuire•d to cur~• such br~~ai•h; 13) s~ dr~t~~, nut less than 3U dtt~•v from th~• ds~tr the nutice• is mxilecl t~- Burruw-er, by w-hich such nrt~ach must b.• cure•d: i~nd (•11 that f.tilure tu curi~ ru~~h t:r~~s~ch on ur lH~for~~ tht• daite !~pecifit~d in the nuticr ma~• re~ult in :~t•crlt•ratiun otthe tium~ ti~•~•un~d br- thi, ~1~-rt~.~K~•, for~•~•Intiur~~ i»• judiciHl pru~•e~•din~ and ~t~lt~ofthc• t'rupert~-.'Che notica• shall farth~•r int~-rm t3orruw~~~r uf th~• rikht :u n~inxt:+t~• aft~r :~r~•~•Irre+liun and thi~ right to f~sye•rt in th~~ f~ireclurure pr~x•ecdink the nun-e~xist~~nre of a defuult ur any- ~-ther defi•n~e• uf R~-rr~~~v~•r tu ac•~•elt~ruli~~n and forcK~lu,ure. If tht~ bre~tch i~ not curecl un ur h~~for~~ thi~ datt• ~pc~cifi~~d in th~• notice, L~•nder at I.t•nd~~r'~ aptiun m~sy d~~e•lare all of the yum. s~Y•ured tr~• thiti 11ortK:ikc• to M• imme•diat~•ly du~~ :~nd pu~~able~ w~ithuut furth~•rdi~m:~nd and mu>• fur~~clutii• thi.ll~~rtKxge b~ judici:il prui•t•~~dinK. I.~•nd~•r.hall b+~ ~~ntitl~•d tn cc-11~•i•t in su~•h pr~u•~~~•din~; :~11 e•~p~•nti~•~ ntG~r~•e•losur~•. in~•IadinK. but nut limited tu. rea~un~~bl~~ atturney'. f~~~~., und rv~titti ~-f ducumc•ntar~~ ~•~•id~•n~v. al-stra~•[~ :~nd titlr r~•p~~rt~. 1'~. RurruH•i~r's Ni~ht to K~•invtatt~. ~ntti•~th~tan~,in~; 1.~•nd~•r~. a~•~ ~~Irr:iti~m uf th~•:;ums ~rrurtr~ h~-thi~ ~1urtKa~;r. iinrr,ut~r ~h,ill h:icr t1u• ri~;ht t~~ ha~~e• :inp {:rn+ t•~•din~;• he~~;un hc IA~ndi~r t~~:•nfnn•~• thi. 11~rrt~;a~:r dis~•nntinuwi at .in~ timr priur t~y t•r.trc uf a tud~;m~•nt ~•nf~~rr~,~~: thi. Jlartka~kt~ if: t;~i I{~~rru~crr p:i~~ Iw•ndt•r a~ll sums whi~•h w:~uld ht• th~~r. du~• ~ndt•: th~~ ~lnrty;uKe, the 1utF and nntr~ ~rcunnK i~~uturt• Ad~•an~•r~, if any, h:~d nn:ic~•t~li•rat~un n~•i•urr!Yl: ~ hi li~~rr~rHt•r ~vn•s :ill t~n•:~che~. nf an~• uthrr c~~~-f•nants rir aKrcY~men[., ~~f Kurru.. t•r ~•~ miaintYl ~n thi~ ~1~~rt~:~~;~~. ~~•i I~~~rri,w~•r p:it~ all rt•a~~~nsibl~• F•xprn.f•~ in~•urn•d h~• I~~ndrr in e•nf~~rc•~nk the• cm•c•n:ant. :~nd a~;rtrt~me•nt~ ~~f Iturr,~~ver cunt~~ined in thi~ J1urtKake aind in rnfun~inR 1.~•r.dF~r'. r~: m~~dit•~ as pn~~-i~1~•d in para~;r.~ph 1`+hrrcyrf. ~nc•ludtn~;, hut n+~t I:mitc~j tu. rea~un;ihle :+ttnrnf•}•'s fivti; and ~i1~ K~~rruw•f•r take~s sut'h actinn a. I.e~nd~•r rn:~~~ re :~sunahly- myuire• tu a~sur~~ th:~t thc• iien nf th~± ~1ur[k.i~;F, Iw~r.der~. intrrest in th~~ I'rop~•rt}~ anrl Finrr~~x•c~r'ti uhlikaUnn !u p:~t• th~• ~utn~ ~~rurr~rl by thiti ~L~rtK;~kt• shali ~•~~ntinur unimp.ure•d. l'}rm su~~h p.~t-m~•nt.ind cure 1ic -i~,rrnw•c~r, thi~ tit~~rt#;:+~;t• aiicl ti~e n-rli~;:lllflfi5 NfY'UCfYI IlPrrh~ shall rt•m:~in ~n futt f~~rrr an~i E•ff~•~ t a. it n+~ ar~~eirr.iEinn h~id ~K•runc~. Y~-. ,1~siKnment of Rents• Appointm~~nt of Keeeivi~r. :1~ ,iddi;u~n;~! se~urit>• ht•rt•under. fi~~rr~~~ver ht•rc•h~ <+~si~ns U~ [~•ncier the rrni. ~~f thf• {'ru~~rty, prnvide•r1 that fiurr~~wi•r shall, pn~~r tu :u-ci•leratiun u:~d~•r paraKraph !~ h~•n~~f nr ab:ind~mmrni nf the• Pr~~pertt•, ha~-e thr riKht t~~ culle~ ~ and r~~tain such rents .ic thry h~ti~~~me du~• and p:~t•ahlr. I'Fxm ae•celrratiun unde•r parakr.~ph Ir+ hr•nv~f ur:~b.~ndonm~~nt ~~f thF• 1'r~~pc•rt~~, (.rrnd~r tihall tw e•ntiti~d tu ha~•e a rec-ei~-er app~intEd h}• :~ , ui~rt d~ eMer upm, take FN,s~e~~i~~n u( and manake [he• Prupt•rt~• and tu c~illc~•t thr rent~ ~~f the 1'ruEx~rt}~, includi»K thuse past due. ~111 rents ~•ullcY•ted by the rec~~i~•~•r ~hall tx• applie•d firGt t~~ paym~~nt of the eti~tits uf m.~nakrment uf th~• Prup~•rtc and ~ti~ltcrti~~n ~~f rents, includinR, but not iimited tu, rc~cei~•f~r's fee•., premiums un rec~ei~•~r's hunds and r~:isunahl~• .~tturnF•~~'s ft•r,, .~nd then tn thf• ~ums cecured b}• this ~1ort~a}~e. The rr•c~i~~~•r shall lu• h:~ble G~ :-r~•~wnt unlt fnr th~~se• rrnts :u~tu:~llt• r~•i-.~iv~til. ~.: ~x 35.~ ~aGE 1Q?.5