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HomeMy WebLinkAbout1710I enJrr'~ Nnttrn agrcemrnt or appQ..~hic la~ liurruNr~ shali pa} thr am.,unl ~~( all morig~gr imur.~nrc prrmium~ in thr mann~r pr.~vidr.l under pa~agraph 2 h~reof. An~• amuunts dichurud hy Lrn~irr pur.uaM ~~, Ihis par.i~;r,~ph 7. ~~ith uNrrc~t thc~cun. ~hall hrc~~m~ addiUi,nal in~lch-cdne,. of 13~~rruwrr ~ccurrd h~ ih~. !~1~,n~:~gr l'nlc„ f;rrr~~~~cr anJ 1 rn~l~r ag~cr ~c. othrr tcrn~. ~,f p:~~•mrnt. ~uch am~~untc.hall tw payahlc ii{ti~n n~~li.r fn~m I rndrr 1~~ f1~~rrr~.~~ riyur.~in~ p.~~mrnt ~hcr~~~(, and ~h:~ll Fx:~r int~r<<t fn.m thc datc of di.burceinent at the ra~~ ~a~•:~hk fmm time t~~ timr ~~n i~ulstandinc r~~~~~~~i under the N~te unle~~ payment of interr,~ at such rate woulil M c~-n~ran~ t~~ apnlirable la«. in ~~h~rh rvcnt ~uch am~untc ~hall F.~ar in~ere~t at the hi~hest rate permissihle ~mdr~ apphc:IhlC IJK Nt~llll(1~! c~•nlaineJ in Ihi. E~ara~;r.~ph 7 chall reyuire I endrr lo incur any~ et~nce ~r take any action hcreunder. 8. Inspecfion. I en~)cr ma~ m:i{,r ~,r ~au.r t~~ hr m:~dr rr.~.~.n:~hlr rmrir. up.,n :~nd im{x~ti~~m of Ihe Pmperty. pn•~•idc~1 lhal 1 rndCr ~hall givr A~~rr.~~~r rn~tir~ pri~~r t.~ :~m w.h ~mprclu~n .~.rcii~in~; n:~i~~nahlc r.~uk thcrc(~~r rclatcd t~~ I.endCr's intrr<<t in thc Prn~ert~•. 9. ('ondemn~tion. The pn~r~ed. t,f ain• .,~~ard +~~ cla~m f~~r ~I:unae«. ~lirert ~~r c~~n.ryuenlial. in e~~n~ecti~n w:th an~• iondemnatii~n ur i~thcr taking of thc Prupcrt~~, .~r ~+art thcrr~~f. ~~r fc~r i~~ili~idtiil' ip Iiili i~E lO~7CICRlii:iliUii. :iiC hcrch}• a«ig~cd an~+ .hall hc paid t~ Lendcr. ln Ih~ r~rnt of a t~•tal taking .~f thr Pn~~,rr~~. Ihr rr~~.rr.k .hall tx a~~+lir~1 t~~ thc .~m~~ u~urcd h~• thi. '~1+,rt~a~c. ~+ith th~ e~c~cs. if :~m'. p:~id U~ Ri~rruwrr In ~hr rvrr.` ~~1 a parti:+! lal.in~ rf th~ Pr~~perl~'. unli« R~,rn~wcr :md I ender ~uhcrHi~~ agrrc in writing. thrrc tihall tk a{~~IirJ t~~ thr ,:~m~ ~riurrJ h~ thi. ~tnrt~.~gr ,u~h ~+rc~pur~i~~n ~•( th~ prcxecdc at ic cyu.,l to that ~r~~M~ni~~n ~~hich thr amrunt ~~( th~ .um. .~:urrd h~ thi. \1~~rt~:,ec immrdi:~~cl~ nri~u t~~ Ihc datc of tak~n~ hrar~ t~ Ihe tair markrt ~alu< <~f thr Pr~~~rt~ ~mn~z.li.~~rl~ ~ri~~r ti~ the .Litc ~~f ta~,~n~:. uith thc h.~lanc~ ~f the pnkee~lti (~:ill~ I~~ Bpff~~N'Cf. lf thc Pr.~pcrt~ ic ;~handi~nc~! h~ B~~rr~~Nrr. ~~r if. ;iftcr n~~ti:r h~ I rnd~•r t~~ R~~rr.~Hrr that ~hr c~ndcmn~~r ~~ffcrc m make :in .iH;~r.1 ~~r .cttlc :i r!:iim f~,r ~fani:~cr.. li,~rn~wrr i:~~l. r„ rr.~~nd !~~ I rn~l~r Nithin t(1 d:i~. aftcr thr ~1:~tr .urh n~~ti~r ic m.uled. LrnJer i. :~uth~riird ~~, r~~llrct :~~~~~ :~~,.n ~n~• r~,k-«~~i.. :~t 1 ender'. ~,~ti~n. ~i[her tr re:t~ratie~n ~~r rr~~ir ~f thc Pr~,Fxrn ~~r t~~ thc .um, .r~i!rc~l tn thi~ \t~~r~ga~c l'n!r~~ 1 cnilcr :ind [3urn~~+rr ~~th~r~~~.r akrrr rn ~+ritinc. :u~~ .urh :~~~plira~i~m ~.f rrk~red~ t~, {~ri~~ci~:~) ~h:~l! m•t c~lcnd _ ...... ., .~, ., .. ~ ..,. .~ ~. .,.~.~. -- , ~ • . -. ~.. .~~'~.._ ..._ ~.:_ ~_...._ .~. C..~ ....:......- ...'.:..::~iYli~~~ Ilili~~U i~~ ii~'ia:dt,id`4i1 ~.Iiiii ~ filill~i ~iT lii:iiiYt ifli 3f:K~i:i7t ir~ wch in+lallmcnt~ ' . 10. Borrower 1ut Relea~ed. I~trnsie~n ~~f thr timr f~~r ~~,~~mrM ~~r nu~dificati~~n ~~f am~~rtiiati~~n ~~f Ihe ~um~ secured h~' tfii. ~t~~nca~r t;rantr~i M I rn~hr t~~ :~n~ tii~crr.~rr ~n in~rrc.t ~~f B~~rrcn~cr ~hall n~~ i,~~ratc t~~ r~lca~r. in :im~ m:mncr. thr liahilit~ rl thc ~~riLinal R~~rmHrr .~nd R~~rn.w~r\ w.:r„~~~. in intcrc,t t rnitcr tihall n~•t Fk rcyuirr~l h~ cnmmenrr ~~r~kccding~ a~amtil wch w~~r~u+r rr r~fu.r h• r~tcmi tim~ f~~r ra~mrm „r i~thcr~i.c m~~dift• am~~rtiiati~m ~~f ~he tum~ ~~:uretl h~ Ihi~ Mi~rt~akr h~ rca~~~n ~~t .~m d~ma~u[ m.idr h~ !hi~ ~~rie~n:~l B~,rr~~~~er .~n~1 K~~rr~~~cr', ~~i~:r~.~~r~ in iMrre~t I1. Forbearance M~ I.endcr 1ot a R'ai~rr. •~~~~ f~~rhr:,r,,n;r h~ I rndrr in r~rrii~~nz .~n~ richt ~~r rrmrd~• hrrcimdcr. ~~r .~th~rw•i.c :~fT~~rded h~ a~+pliiahlr I:~w. .h.,ll n„t tk• .i «,u~r~ ~~t ,,r pre:lude th~• r~~rri~r ~~f an~ w~h -ieht ~r remed~' Thr ~ro~urrmrnt t.f imuran~r ~,r thc ~a~~mrnt nf t.~~r~ ~~r ~~thrr I~cn, rr ~h.u~r~ h~ 1 rndrr .hall n„t Fk a ~~:u~~rr ~,f 1 cnJcr'~ rieht t.. :~«rlrr.itr thr matur~h~ ,,f thr indrhtrdnr.. .~_urril h~ th~. ~1~,rt~:~er 12. Rcmrdies f'umulali~•r. :~11 remc~h« ~r~~.idr~l m thi. ~1~~rica~:c are ~fi~tinrt :ui~1 ~nmi~lati~c t~~ .+n: ~~thcr richt ~~r r~rtc~i~ :in~rr th~~ \lrrtt.~~r ~~r afG~rdr.! 4~~ i.~~~ r~ ryuit~. .~nJ m:~~ hc c~rr.i,r,1 i;~ncurrcntl~. in.ie~xndentl~ i~r tit~r~r~civrl~ 13. Succecsors and A~tiKm Buund: Joint :~nd Se.eral I.iabilih: ('aption~. 1h~ c~~ccnant~ :uid .~crrrment. hrrrin :i~nt.une~i ~hall hin~1. and thr riLh!. hrr~•unJer ~h:~ll n~ni t~~ thr rr,{~r:t::r ~n..r..~~r~ :~n~1 atitii~m ~~f 1 rri.fir .~ri~! A~~rr~~~~er. ,uhject t~+ thr pm~i.i~~m rf E•ar.~ti.~ph I' hrrr~,- ~~11 .~~~rn.~nt, .mJ ,~,'rrrmcni. ~~f B~~rr~n~cr ~h:~ll Fk i;~int .~nd ~rcrr.~l Tlle ~a~[i~~~i, :~nJ h~ailing~ r( th~ ~~.~r.~er,~~h. ~~f Ihi~ ~1~~rtc.icr asr f~~r i.~n~rtncncc u~~{~ .~nil aic i~~~t i„ iw ~~.c~1 io inler~rcl ~~r dcfinc thc ~m~~~i~~m h~r~,~f. 14. ~olice. E~~cpt fnr am~ n~ih~c rryuirc.l i!n~trr a~~~li.;ihl~ I:~« t~~ h~ ti~rn :n an~~thrr mannrr. /:~1 :~!n n:~ti~r t~ H~~rr.n~~e pr~~~ided (~~r in Ihi~ ~1~~r1~:re~ ~li:~ll.lx ~i<<•n h~ r;~eilir~L .u:ii n~~t~ir h~ ~rrt~ftcd ~,,:~~i .~,~a«..~,i t~~ Rnrmti+~r ;tt th~ PruEkrt~' Addre~~ ~~r .~t ~u~'h ~~rhrr .~Jdr~.. .,, Ft,~rr~~~~~'r n~,~~ ~1e~iLi~:iti h~ rn,~i~r I~~ I en~lrr :~~ E~r„~i.lrtl h~rein. :tn~l Ihl :~m n~,tict tt~ ( enJCr ,h.il! ~x gitirn t.~ ccrhtir~l ~ii.u1_ re•ti~rn r~rr~{~I t~y~:~~:~r~l. t~~ I en~ier~. ad.trrtiti ~t:~trd h~rrin ~.r to ~u~h ~,ther addrec~ :i~ 1-rndrr ma~ ~1r~ie+tatr h~ ns~tici~ t~~ li~~rr~~~~rr :» ~r.~~ideJ hrrrn~ 1m• n~,tiir (~r~,~•~drJ f~~r ~n thiti ~1~~rt~.igr ~h~il tk ifc•emed t~~ h,~~~ hrrn zi~rn tr• R~~rr~~ti~rr ~~r ( rn~lrr ~.hrn e~~rn in f!zr manner .Ie.icnated herein. 1 S. l~niform ~1ort~;•rKe: Go~ ernin~ I.aw; tir~ cr•rbilih _ This form of mortgage combi~es uniform co~~enants for national use and non-uniform coeenants with limited cariauons b}• jurisdictiun to constiwte a uniform securit}• inswment co~•ering real propert}•. The state and la.al law•s applicable ~o this ;4lortgage shall be the la~s of the jurisdiction in which the Prc~pert}• is la:ated. The foregoing sentence snall not lirr.it the applicabilit}~ of federal law to thic mortgage. In the e~ent that an~• pro~~isio~ or clause of this Mortgage or the Note conflicts w•ith applicable law~, s~~ch conflict shall not affeet uther pru~ isions of tFis Liongage or the Nute K•hich can be gi~en effect Nithout the conflicting proci~iun, and to d~is end the pro.isions vf the blungage and the Note are declared to be se~~erable. 16. Borr~~wer's Cop~. Borr~~~,~r .h.~l1 hr f.irn~.fi~~1 ._ ~.,,~~t~,rmr~! <<~E~t ~~t ihc ti~~tr ,~n.i ~•f thi. ~1~xte:~t~c :it thc tim~ nf ;-~r~titi~n ~~r :~ftrr rr<<~rJa~i~~n hcrr~~f 17. T~ansfer of thc Propert~: 1~tiomptiun. (f .~i•. ~~r ,~ci~ ~~.~r~ ~.~f thr Pn~~rrlc ~~r .~n intcr«t ihrr~~n i~ ,~~Id <<r tr.~mferrcil h~ Bc~rr~,Hrr ~+~lh~~ut Lcndrr'. ~r~~~r ~:rittrri ~~~n.ent. c~.tuJine ~.i~ Ihr :rr.~!i~~n ~~f .~ lirn ~~r rnci~mhran;r ~uh,~r:i,n.itc• t,~ thi. ~1~,rtg:~~~. ihl thc rriah~~n ~~f .~ ~+ur.h,nc nt~~nr~ •rrurr~ :ntcr«i t~~[ li;~u.rh~~t•~l :i~~li.~n.r._ t~! .~ !r:~n,fc•n c~ dc~isc. ~1e~rrM rr ht• ~~~r~tion ~~( 1.~~~ up~,n thr ;ir:~th „t .~ i~nnt t~~n:~nt ~~r ~,1~ thr er:int ~~f .~m Ir.~.rh~~ld ~ntiteN ~,( shrcr ~~~.~r. i+r let~ n~.; rontain~n~ :~n c~pli~,n t~~ ~ur~h:~sr. I cn.irr m.~~. .~s I rn~lr;~• ,~~n~=r~. Jr~l.~rr :~ii rhr ~IIIIi~ ~c~ urrd h~ thic \1i.rte:+er t~• hc ~rnm~Ji:~trl~ dur :ind pa~eMe 1 rndcr .half h:s~r ~+.~~~r~i .u:h ~~E~rn~n t:~ :~~c~lrr.itc if. E~rirr t~• Ihr :.~le ~~r tran~fer. I rn.ler enti thc rer«m t~~ ~hnm thr Pn+~~rt~ i, t~+ hr .~~I.! ~~r !r:~rz~trrri•~1 rc:~:h ~~rrrrncn! in Hnti~~c Ihat thr .rr~}!t ~~f .uch F~cn~~~ i~ ~at~c(ail~~n A~ Lcti~l~r .~nd th.it ~he ~ntrrr.I ~ia~.~Mc ~m !hr .t;tu~ ui:u«1 h~ Ihi. ~1~,rtz:~ec ~hn11 h~ :~i Suih r.~sc :ti~ I cndcr tih:til rey!~e~t If 1 ender h~~ t~a~~eJ thr ~~~u~~r~ t~, :~,~rlc~.:t~ ~r,~~ii1r~ in !ht~ j~:~r.~~_rs~h 17. :~n~1 i~ R~~rr~,Her~. .~t~c~~~~~r ~r ~mere~t ha~ e~ecutr~ a ur~tt~n :~s~um~ti~m .~errrmrnt a~ir~,trd in ~arit~~ii h~ I en~lrr. 1~n~fer chall rrlr:~,e R~~rru~-cr fr~~m all t~hligat~~~m un~1~r thi~ !11~~rtg.~,~c a~d th~ ti~~tr I( I cnder r~er:i~e~ tiiih ~~pU~~;t t~, ,~;~cirr.~!r I rn~irr .h.~ll ;n.ul Firrr~~~~rr n.,Uie ~,f a:crleraUrn isi a.r~~nlan~~ with ;~ar.~cranh 11 hrrc~~f Sn~h nulii~ ,h.~l! ~~ruc~~lr .~ ~rr~~~~i ,~I n,~t fc•.~ ~h:~n ~fl ,!.~~, tr~~m thr :1atr thi n~~Ii~~ i~ r~tailed ~+ithin :+h~rh R~•rr~~~~rr m:i~ ~.it thc ~um~ ,1erlet~~! ~li;~• It f~~~rr~~~.~rr !.~il~ tr ~+.~~ ~:i,h .i;rn~ pnnr tr~ thr r•.~ir.:tinn ri .uih (~crt~,~1. Ixn~i~r m.~~. u~th,,ut furthrr n~~ti.r ~~r ~1rni:~nd ~~n ti,vn~~.~ir. ~n~nlr :~n~ r,•inrdir, ~•rmittr.i I~~ ~~.~r.~s~ra(~h 1~ hrrc~,f. 1~uti-I~VIfUK~t ~u\FV~\"Iti H~~rrc,wrr :~r;.1 1 rn.i~.r furthrr ~~nenanl anJ .+errc .~~ fc~ll~~us: 18. Acceleration: Remedies. f:tcept ati pro~ided in para~raph i7 hereof, up~m Borrowers bre~ch oi ~n~ cmen~nt or aKreement of Borrower in lhis ~tortRa~;e, includin~ Ihe co~enaMs lo pa~ Nhen due an~ sum~ secured bt this ~tort{;a~e, I.ender prior Io acceleration+hall m~il notice fo BorroNer ati proc~ded in paraRraph 14 hereof tipec:f~in~;: (1) Ihe bce~ch; (2) the action required to core tiuch Areach; (3- a date, nof lecti than 30 da~~ imm the dale Ihe notice is mailed to Borrower, b~~ which such breach mud be cured: and (J! Ihat failure to care wch brcach on or beforr the date tipecifird in the notice may~ result in acceleration of Ihe cums secured by thiti ~tortkage, foreclowrr b~ judicial proceedinR and cale of the Propert~•. 71~e notice ~hall further inform BorroNer of the ri~ht to rrir~tate affer acceleratiun and the riRht lo a++ert in the forecloture proceedinR the non-exi~tence of a default or am other deien~e of Rurro.+er to acceleralioo and fureclosure. lf Ihe breach is not cured on or before Ihe date rpecified in Ihe notice. 1 ender al I.rnder'~ uption ma~ declare all of the sum~ secured b~ this ~iort~a~e to be immediateh due and pa~atde withoul further demand and ma~ foreclo~e Ihi~ ~torlKa~e b~ judici~l proceedin~. I.ender tihall t-e entitled to collect in such proceedin~; all e~pen+eti of forrclo.ure. includinK, but no1 limited to, re~sonabk ~Itorne}'s fees. and co~ts of documenfan e~idence, atntrac~~ and litle reporfti. 19. Burruwer's Ri¢h1 to Reimlale. \~~turth~tau~lin~ I r;i~irr ~.~.~rirr.rt„~n ~~t thr ~um. .eiure~i hc thn ~1~~rtgagr. 13~~-t~~~~[ ~heil he~c thc r~iht t~• h.~~r .~n~ ~r~~.rr~t~n_. ;~~•_•~n~ t.: 1~•,.trr t,~ rn1~,r.r thi• \1~~rt~.i~r d~~~,~ntiniir~l .~( .~n~ ltmc ~, 3~1 ~ ~~;f 1706