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HomeMy WebLinkAbout2010l cn~rr'~ ~~rilirn agnrment ~~r apph.abic law HurruHCr •hall pay thr am.~unt u( all mortgrgc inwr.~ncc prrmiums m thc m:mnrr pn~viJril under paragraph 2 here~~f Any ~muun~t di,hursrd hy I.rn~icr pur.uant ~u thit p:~r.~~;iaph 7. W ~~h u~trre~l Ihcreun. ch:~ll f-ccc~mc additi~~nal in~l~Medn~c~ o( HurruN~r ~e~urrd h~ Ihi~ \1i~ng.~kc l'nle.. R~,rm~~rr .~n~l 1 cn~lrr akrer ~~~ ~thrr term~ i~f paymem. ~uch am~x~mc ~hall hc payahlc u~x~n n.~tirr frrm 1 rndcr ~+~ Burruu~•r rryur.ling pa~'nunl Ih~rr~,L and ch:~ll hiar intrrect fn,m thc date of Ji~hurcement al Ihe ralc pat~ahk fr~~m limc to time un uulstandinQ principal under thc N~te unlc~~ payment of imenct at such ratc would i+e caMran• ~~~ ap~liraMc I:~~~. ~n ~~hirh rvent wch am~~unts ~h:~ll F~ar interect at the highe~t rate ~xrmistihlc undcr apphcahlc law. Ni~thin~; c~~nl.~incd in thi~ para~raph 7~hall rcyuirr 1 endcr ~i~ incur any c~prnu or takc .~ny actic-n hcrcunder. 8. Inspection. I enJer mav ma{,c ur rau,r to hc ma~lc rra.~,naMr ~ntric. uM~n .ind imperti~~m.~f the Pmprrt}~. pnn•ided th:~t 1 rnder ~hal! gi~~c R~~rrc~~vcr n~,t:c~ Dri~~r ti~ ant ~uch in~~xctwn v.rri(~,ng [~:~~~~n;~hlr ,~:,~~~• thcr._•f„r rcl:~tc~! tn 1 ~n~e!'S in~~rrct m thc Propcrty. - 9. ('ondrmnation. The pr~~~rrJ. ,,f am ;,~~ard .~~ cla~m f~~r ~lamaee.. ~lirect i~r c~~meyurntial, in c~nnecti~n with am• .undemnati~,n ~,r othcr takink ~~f thr Propcrtt•. ur pan ~hcrr~f. „r f~,r r~~mrvancc in licu ~•f ~~~ndcmn:~hun. arn c~rch~• as~igncd :~n~i ,hall hc paid to I.cnder. ln Ih~ e~~cnt c~( a Ic~t:tl ta{.in~ i~f th~ Pn~4~rtt~. th~ pnk~rdc ~hall fx :,~~iic~l tu !hC ~t~m~ ~r~urcd h~• thic 11i~rtga~C. with Ihc c~re~s. if an~~. E~:~id Ir Burr.,wrr In thr r~rm ~•f a ~arli:~l ~a{.in~ ~~f thc Pm~cr1~. unlctic R~~rn~Nrr :~nd I.endrr ~~thcr..i.r :-kree in Hrit~ng thrrr ~hall h~ appl~rd tr thr ~tim~ ~~iurr.l M th~. '.11~•r1~:~L~ ,u~h pmpi,rti~~n r.( thr prcxeedc a~ ic ~yu.~l ti~ tha~ pr~~Ex~rti~m ~~hich th~ am~~unt i~t thr ~um~ ~r:urcd hv th~~ ~1~~r1F:~er immcdi:~tcl~' ~n~~r tu the datc nf t.~kin~ har~ Ic•Ih~ fair markct ~:~lur uf thr Prup~r(~ ~mmrdi.~trl~ pri~.r t~• thr.l.~t~ ~~f t:~~~~s~. .+ith thc h:,l.~nrc ~,f thc pnkcc~l~ paid t~~ Bormwer. lf thc Pr~~pert~• i. ;~handc~ncil h~ R~~rn~Hrr. ~a if .i(ICr n~~lirr h~~ 1 ~ndrr ti~ B~~rn~~srr that thc r~•ndemn~r ~~(Tcrt m make :~n :~W:~rd i~r ~etlle a rlaim f~~r i1.un:i~;r~. Brrn~N~r f.~il. t~. :iti~.~i:l t~~ 1 endrr Hithin 1n d:~~~ :~fler thr d:~Ir .uch n~~tirr i~ m.~sled. I~n~ler i. autho~i~rd t<~ c~~llr~t :~nd ap~•l~• the ~n.:e~d.. ~t I en~irr'. ~~~~tiF~n. riiher t~~ re~toratic~n ~~r repair ~~f the Pm~rt~ ~~r t,~ Ihr wm, ~«•urr~1 h~ thi~ \tc•niaec I'~-!rt~ I r::~ler and Rt~rs~~:~ir :~theru~:~~ a~rc~~ ~u ..ri~inL. anv w.h ap~hr:~ti„n ~~f pn•rreJ~ t~, ~rinii~al ~h:~ll n~~t ettend ~~r p~~,t~»>n~ thc dur dat~ ~~f thr m~~nthl~ ~n~tallmrnl. rrfcrrrd tu in ~.~ra-ra~hc I ~nd ' hcrc~~f ~~r chancr th~ am~~unt of wch ui,tallmcnh 10. Rorrowrr ~01 Rele~~ed. l~~~rn~i~~n ~~f thc t~mr f~~r ~.:~~mrnt ~~r m~•difirati~~n ~,f am:~rtiiat~~.n ~~f the .um~ ~e.urcd h~' th~~ !11~~tt~aKr ~rantrd he 1 ~n~i~r n~ ant~ ,uirr.~~~r ~n intrrr.l ~,i A~rmHrr ~hal! m,t ~.Exratc t~~ rrlca~c. in anv manncr. thr liah~li~~ uf thc i,ricinal B~~rn,~~rr ;~nd B~•rr~,wrr'. tiu~.r..~~r. in intcrc~t 1~n:1cr ~hall n~,t F.c rrynir~d t~~ r„mmencr ~,r~.ccr~ling~ ac:~inct cuch wrrr.~~x ~a rcfu.c t~~ r~tcn.l tunr f~,r pa~mrnt „r c.thcrwi.r m~~dih am~~rtii:~~i~m ~~f Ihr sumc .c;ured h~ thi~ M~,ncag~ h~~ rr:i~~~n ~~I en~ d~m.u~il nt:~di h: thr rric~nal Hurn,~~er .~n~1 B~~~ri~u~r'> >iic.r~.~,n in intCre~t. 11. Forbear~nce b~ Lcnder \ut r~~'ai~er. ~r« I,~rhr:~r,~n~r h~ 1 rndrr in e~rr.i~~n:• :~i~c richt ~,r rrmr~i~• hrrri~n~icr „r ~HhrrWitir afT~~rdrJ h~ :~ppli~ahlc ~aw'. ~h:ili ns~t !k :~ ~c.~~~rr ~~f ~•r ~rcilu~li ~hi c~crii~~ ~•f :~n~ ~u:h r.eht c~r !cmcd~' Th~ ~nx~~r~~~cnt of imurancr ~,r thc ~,~~~mrnt nt t:~~r.:,r „Ih~r lren. ~~r rharLr. h~ 1 rndrr ,h:~N ni~e hr .~ ~ta~~•rr ~~f 1 rn~irr'~ right tr accrlrrat~ ~hc m:,turit} ~~f thr ~ndchtrdnr.~ .c,nrrd h~ thi. \1~,ne;~~r 12. Remediec Cumulatire. All rrme~6r~ ~r.~<<Jrd ~n thi. ~1~~rtca~c arr :ti,tinct :~ni1 ~~imnl~ti~~r t~~ ,~n: ~~thrr ricM t•r rrmeJc unJrr Ihi~ lllnrt_a~;r ~~r afT~~rdrd h~ la~+ ~~~ cyuzt~. .~n.l m:~~ f.r ~~rr.~,e~l c~,ncn:rrnlh. in~lc~cndrntl~ ~~r tiuc:r~~i~rl: 13. Succecsors and :~~~i~n~ Bound: Joint :~nd ~e~eral I.iabilih: ('aption.. Ihe ~„«n.~nt; :~nd e~~rrmcnl~ hrrein ~~~nlatntJ ~hall hin~l. :~nd thr ri~h!~ hcricinder ~h.~ll rnsir~ I~~. -he ;r~~«U<< w;rr.~~~r. :~n~1 .~ti~itin~ ~~f I inJcr .~n~1 R~~r-i+~cer. .ti: .~. ~ ' ::, :? :• ..~~ ~~:.~'.:.::~:~. . ~ ~.a~ae~a~.~~ i' i~c~cc~i •lii :s~~rn.mh :i~~~! :iircrntrnt~ ~~t tf~~rn~~+cf til:~ll he I~~~nI dnti ~C•:cf:il ~flic ca~.h~,n. :md hca~iini, ~,f thr ~~:~r.~er:,~h~ ~~I thi~ ~i~~rtr.~ir ~n• f~~r ~,,ncrnirnrr ~~nh .~n~l arc rn~t r„ tk u~cd t~~ ~nlcrpr~t ~~r dcfinc thr pm~~.i~,m hrre~~f. 14. loliet. Frre~t fur am' n~~hie rru~~irrJ un~trr :~~~~1i~.~hli I:r.~ t~~ h~ ~icrn ~r an~~thrr mannrr. /a~ .~nc n~~1i« !~ Ri~~r~~H~r pr~»id~c1 f~~~ in [hi. ~1i~rli:~~c ~h:~ll F~ ~~tcn h~ tn:;!i~~e .u~h n,~t:ir h~ ;rrt~fic~1 m.,il :~~1dre..r.1 t~~ R~~rr~,.+cr :-l th~ Rr~~Exm :~ddre.. ~~r at wrh ~~thc; addr~.~ .,. B,~rn,~ir in.i~ dc.i~n:~ti M n~~iicc t~~ 1 rn~lcr .~~ rru~i.L•J hrrcin. and (h~ :~m n~~tirr t~~ ! en~lrr ~h.ill hc gi~rn h~ irrt~ftr~'t me~~. rrhirn rzcr~rt rryur~tr~1. t„ I rn~ler'. adJrr~ti ~i:~t~d hrrrin ~~r to ~~irh ~,thrr addre« :~~ I~nJrr ma~ .1r~i~n:~tr h~ m~h:r t~+ B~~rn~urr :~, ~.r.~~i~rJ hrrc~n •1nc rn,ticr ~r,~~•~d~J fur in thi~ ~1~~rt~agr ~hall Fk ~lecmrd h, h.~~i hrrn ~~~rn t~~ B~~rn~~rr ~~r 1 i•nd~r ~~hrn c~~rn ~n thr manncr :ic.icn:~tru hc:rin 1~. l'niform ~lorlkaKr: GuverninR i.sw; Se. erabilih. This form of murtgage combines unif~rm cocenan~s for national use and nun-uniform rn~enants K•ith limited.~ariauons b}• Junsciiction to constiwte a uniform security instrument co~•ering real propert}•_ The state and loc;al laws applicable to this Mortgage shall be the iaws of the jurisdiction in which the Propert~ is icxated. The furegoing sentence shall not limit the applicabilit}• of federal law~ to this mortgage. In the e~~ent that an}• pro~~isiun or clause of this Mo:tgage or the Note conflicts with applicable laK, such conflict shall not affect cuher pro~•isions of this Mortgage or the 1Yote which can be gi~en efi'ect With~ut the conflicting pru~•isiun, and ta this end the pro~isiuns of the Mortgage anci the Note are declarrd to be se~~erable. 16. BorroNer's ('upy. tiorru~.rr ,ti.~ll ht l;~rn~.hr,l .~ ~~,c~t~~rmrd ~~~~n ~~I thr \,+Ir .~r~~l ~~f thi. \t~~rt~.~~~ :~t thc hme ~~( e~r~ntii,n ~~r :ift~r rri~~rd:~ti:.n hcrr„f. . 17. Transter of Ihc Property: ~~~u~npliun. If .~1! .,r :~n~ ~~.~r, ~~f fhr P;.,F,rrt~ ~~r .ir: ~ntrre~t th~rc~n it ,~~ld rr trar.fcrrr~l h~ Bi~rr~~wrr wrth~ait lcndrr'~ pn~~r ~ar~ttrn ~~~~~~~•n!. r~.iu.li~~i ~.,~ ~ht• .ri•.~ti~~n ~~f .~ 1.icn ~~r rn:nmhran:r ~uh~~r~lm.~te t~~ th~. ~t~,rt~~:-~;e. 1h1 the ircat~~,n ~~f .~ pur~h,i~r n~~~nr~ .c:ur~t~ ~n!rr«t f~.r }~,.~~~eh~~!~t :~~~l~.~n~c•. ~~~ .i tr:in.frr h~ devicr. ~r~rtn[ ur h~ ~~~xr.~Ui~n ~~f I.~~ u~~~n thc ~1~:~ih ~~t ., i~~int trn:~itf ~~r l,f~ thc ~n~nt „f .int lr.,~rhi~ld intrrc'~t ~+f t!irii~ ~'i'en ~~r lc« n~~t i~,nlainin~ an ~~ptii,n t~• ~uriha~r. 1~ri.lcr rn.~~. .~t i~n~lrr~. ~,~.t~,~n. itr:l.~rr :ill th~~ .i;nt. ~eri~rru h~ rh:ti \1„rtcaec t~~ hr ~mmeJi.~trh duc and pacahlr 1 c~dr~ ~iy~il h:~~r ~~ ,nr~1 ~i~.fi ~.pU~,n n~ :uielrr.~te if. E~rinr t„ thr ..~Ie „r t~ant(rr. 1 en~ler .~nii the prr~„n tii Hh~~m thr PrrE~rrl~ i. t~~ hr ~~~1,! ,~r tr.,n+Irrri~i rr.~rh .~~rri~mrnt ~r? ~~n~i~i~ thnt thr trr~i~t ~~f ~.uch r~n~~n i~ ,etitifa.h,n tc, I enJrr and Ihet th~ intrrr.t ~,,~~.~hlr ~~n thc .nm, .~;urrd h~ t1~i. \1rrt,~.~LC ~h:J! hr at ~;i,h r.~tr :~~ 1 rndcr ~h:+ll reyuc~l If I ender ha~ HaiceJ thr ~~,n~~n t,, .~r~rlrretr ~r„~i.ir~i ~n thi, ,.ir.iLr.~~+h 17. :~n~t if B,~rn,Hrr', ~ni~c.~~~r !n intere:t ha~ e~eci~ted a Hnthn :~ttiumptiun .~errrmcnt ~:icf~trd in Nritin~ h~ I rn~lcr. I ~niier ~h.:tl rrli:i~e H~,rr~~ucr fri~nt all ~~hlicati~~n~ un~lcr thic'~1~~ng.i~c and thc \i~tc (f 1 cnJcr e~crr~.rti tin~h i~~tinn tn :~~~rlcr.~tr. I rn~irt .h.iil rn,,il H~~rt~~~.~rr n.,t::~• ~.6 .~.iclcrat~~~n in :~~rnrdanr~• µ~ih ~+ar.i-~r.~~h !-3 herrrf Surh r.uhre .h.~ll pr~,tiiilr .i E~~n~~~i ,~t n,~t Ir~, Ih;~rz ~O ~1.~~. irr,m thr el:~tr the n~~ti~~ i. meiled Nithin •..h~rh H~~rn~»~r m.i~ ~.i~ thc ~tim~ ~InrLnrJ ~1u~ I! R~,•r,~.«•r '.i~!. r~~ E~.~~ ~~~~h .nm~ rt~~~r h~ tFi ~trir.~ti~~n ~~f .uifi ~•n~~d. 1 t'niitr m:~~. u,th~,ut f~irthrr ni~U~~ ~~~ ~1~tn ~nd rn li~~rr~~ui•r. in~~~-,r an~ t~'mid~« ~~•tnt:[tc 1 hc ~~;~~aera~h !ti ~ii~C~~(. \n~-l'~~r~>k~~ ('~~~f~~~;7ti {;i~f((1Klf anJ I rnJer turthcr ~u~cn:~nt and aRr:r .~~ fnllc~w~ 18. Acce'er~tion; Remedies. Frcepf ati pro.ided in para~raph 17 hereof, upon Borrowerc breach of ~n} co~enanl or aRreement of Borrnwer in Ihic 11ortQaRe, includinR the co~enanl~ to pay khen due am sum~ ucured M• thi~ ~torlRa~e, i.ender prior to acceleration ~hall m~il notice fo Borrower a~ pru~ided in para~raph !4 hereof +pecifyin~: (1) Ih~ beeach: 121 Ihe action required to cure such breach: (3~ a date, nnt lecti than 30 da~~ from Ihe date the notice is mailed lo Borrower, by which such breach must be cured; and (4) Ihat failure lo cure wch breach on or before the dale tipeci6ed in the notice ma~• rcsult in acceleration of the sums secured b~ thi~ ~lorly;a~e, fo!eclo~ure M judici~l prucerdinR and tiale of the Propert~~. The notice tihall furti~er inform BorroMer of Ihe riKh1 to reimlate afler acreleration and the riRht to awsert in the foreclosure Qroceedin~ the nun-ernlence of a defaulf nr an} other defena• ~-f Rorro.+er t~- ~cceleration •rod foreclowre. If the breach is not cured on or before Ihe date tipecified in the notice, I.rnder at Lender'~ option ma} decl~re all of the somc secured b}• thiti ~iort~~e to be immediatek due and payable wilhont farlher demand and ma~ fnreclo~e Ihiti ~torlKaRe b~ judici~l proceedinR. I.ender ~hall tre entiNed to collecl in such proceedin~ all e~pemeti uf foreclo.ore, includinR, bul not limited to, reawn~ble attornt~'s feeti. and co~ts of documentar~ e.idence. aFnt~actc ~nd title reportc. ~ 19. Borrower'c RiRht ~O Rein~titP. ~~~fNI~f1~1.If~~~1l1~ ~ CflilCf ~....t'~l'!J1i~~I1 ~~~ (fll' ~Ufil• ~C~i::~:: ~'. :~:'. ~i:~Tif!d~;C. N~~rruu~r \IIdII F1J\l' ihc rvcht !~• h.~~~ .ui~ ~r~~:re.li~~_. h,•_ un h~ I i•n~irr t~~ ~nt~~t.. Ihi~ ~lrttg.~~c t1i~~~~ntinu~d .~~ am timc -~ : ~ ~3~1 ~~ut ~~