HomeMy WebLinkAbout24481 ri~drr'c Nnucn agrccmen~ iir appl~cablc luw. HurruMrr ~hall p:,y thr :,rn:~u:~i ~,f all m,~rtKa~;c imuran:e premiums in thc
mannrr pru~idc.i undc~ psragraph : hereof.
Any arn~~unt~ ih~hiir+r~1 h1' i rn~l~r pun~iam t~~ Ihis p.~r,~~~aF~h 7 H:~h :~~t.•rc.t ~t~ir:un. ahall F~ecumc addi~~o~~al
in~irMrdnc,~ uf Ii~~rruH~r ,ecu~cd hy Ih~~ ~1ui1~;.~tc l'iil~„ 14„v~~~rr ai~J 1 rn~lrr a~rrr t~~ iither termt of paymenl, tuCh
arm,unt,.hall tx~ ~a~•ahlc ii~xm ~~~ui~r (n~m I cnd~~r t~, R~~rr~~wri ~i•yuc.tin~ p,~~~nrnt thrr~•,~f end ~hall hcar interetl (tot11 tht
d~te t~f di~hurctment at the rat~ paYahle fmm time t~~ Iime ~~n ~~ultit~ndinK rnn; i;~:~l ~;nder the Nott Uo~GSt payn"~en! ot
interest a~ such ratr would t-e romfarv t~~ applirahle I.~w, u~ ~h~rh evcm ~,:,h :~,n,.~,,,t. •-,.,-~ -,.•~r en~trcct at the highttt rate
pe~missihie under applicable law. N~~~hin~; r~~m;iined ~n th~. p,,rakra~h 7,hall r~yuirr I rnder tc+ ~ncur any ex~xnce or take
any action hereunder.
g. ~RSptfflOp. ~.C(1t~Cf (11:1Y (Il:l~l' ~~f ~.~u.i' ti~ hr n~.ulr rc.i,~~n:~hlc cnln~~. n~~uli ,~tili ~'l~C-CCill~fl[ O( Iflt PfuFftfhl, PfOVI(~t/~
that 1 ender shall ~~vr B~ttmwer n~~1~~r p~i~a ~u .~nc .i,ch ~nti;+~y~u~n ~~~~fying rr.~•.,~~~~Me ~.~uce thercfor related to I.ender's
~ntercat in the Property.
9. fondemnafion. Thc pr~x~rcd~ ~~f :lll~' ;1N:~rd ~,i rlaim f~~r ~lama~r~. ~fire: i~~r li!I1~C(~~Il'(Ift3I, ID CAf10GC1100 WIIII 8O}I
condemnation or other taking .~f the Property, ur pah therc~.f, ~~r f~~r ru~ivrvrncc ~n I~ru ~u coudemn:,twn, are hereby assigned
and thall t,c paid to i.ender.
In the event of a total taking of the Proprrty. ~he prcxredc ~hall tx :,pnl~e~i ~~~ ihe .~~m~ urcured hy thic Mortgage.
wilh lhe exccss, i[ any, paid to Bormwcr. In Ihc cvcm ~~f a partial tak~ng ~.( thc F'n~F~cr~y, unlecc Rorrower and l.ender
o~herwiu agree in writing. Ihere shall he apphed t~. thr ~um~ cecnmJ hy th~. M~~rt~.~~e ~u.h ~~r~~rtion of the proceeds
as i~ equal to that pro~rtion which thr amuuns „( ~hc ,um. ticcurcd by ~hi~ ~tur~~.,er i~rmrdi~teh• prior to ~he Jatt of
taking hearc to the lair market vah~c o( ihc Pr~~~•rt~ ~mn,r~l;,~tch ~nnr to the ~1:~Tr ,~( +,As;:!•. ,~i~h thr hal.~uce ot the proceeds
paid t~~ Borrower.
if the Property i~ ahand~•n«I M B„rruHrr .~r ~f ,~(trr m~~i;c hv 1 i-ncir~ t,~ R~~rn••..rr that tt~~• rnndemnor ofiers to make
an award ~r tetlle a claim f~~r ~I:~m;~ce.. B,~rn~u~•r /,,~I. i„ r.•.M~nd t~. I en~i<< .+~;hui i~i ,l1~• :,rter the da~e such notice is
mailccl. [_cn:lc~ i: ,quth, ri~~d ii: ~,,li<<t and .ip~+i~ th~• prtkrrii~ ;it i cndrr~. ~,~r~~~n, e~thcr tr~ re~toration o; repair oF the
Pro~xrt~~ or t~~ ~hc uim~ ~rcured h~ thi: \1~~rte;~cc
Unles. I ender end Borru~2cr MHeniice acrr~ in W rinnc am•'~(~ci~ _~{~~1~~.~i~ :• :~f G~•ikced~ t~ rrincipal shall not extend
~~r ~wxt~ne the due Ja1e <~f Ih~ m~nthh• inctallmenti ~re(erred Yn in ~~:i~:~er;~;~h~ 1:,r.~ ~ here.~f ~t change tht amount ef
~uch inctallmentc ' •
f0. Borrower tiot Releaced. t?xten~ititn ~f the t~me f~~r r:~~ment c.r ~n,~~1~fi;:~tinn c,f am~r~~za~~~~ ~f th~ cumc xcured
by thi~ Mongage ¢ranted bv 1 ender to any .uccec~ur u~ inr~rr.t .~f R~~rru~t~r i,:,1i nr.t ~tkratr tc~ release, in any manner.
the hab~lit~• of thr ori¢inal Borrower and Borrowrr'~ ,u.•rr~.~~r~ in intere~r 1 rn~!cr ~h~ll n~u bc reynired to rnmmence
pr~,ceeding~ againu such sucreuor or refl~ce to ertenJ timr f~~r p:,vmrnt ~~r ~uncrv~~.r m~•dif~~ ame,rtirat~on of thr wms
~e:ured b~ thic Me~rtgage hy reau~n of an~• dem~nd m~dr h~ th~• rricuial f~~~~r~~..c•r .~;,,1 R~•,r+~:.er's cucceccnrt in intere~t.
' 11. ForAearance by I,ender tiot a Waiver. Am f~~ri.c:,r:,n~r t~~ 1 rr~lrr ~r ~~~~•r.:•,n: .~m n~;ht nr rcmcdy hereunder, or
~~ihenvice afTurded hy appt~cahle law_ chall not Fx ,, waiver rf ~~r pF~-c!ndr thc ,•,cr~:.e ~~.' im ~..ich right or remedy.
Thr procurement ~( inturance ur the payment of ta~e~ ~~ ~•ther henc ~.r ih:irer. h~ !~•n,i.•~ ,ha~l n~t t,c a waiver of i_ender's
right ~~. acrclcratc thc maturi~y of the indchtcdncc. ~ccured h~ th~~ \1~~rt.:t~:r
12. Remedies ('umulafive. All remcdicc ~rm~drd ~n ~fn; ~i~~,tc,+~:c ~-c ,!~ ;;~;,~ ~rd :_,~~n„lati~~r t~ an~~ ~thcr right or
remeJ~• unJer thit Mortgage or afTord~J h~~ law c~r eyu~t}. .~riJ m:i~ hr e~rr:~.~•,1 ,~.r~,~irrenti~~. zndr{xndenlly or suc~e~sively.
~ 13. Successon and Assi~nc Bound; .Joinl and Se~er~l 1 iahilih; ('aplion~. llic :~,~rnant~ and a~reemeMs herein
camained chall hind, and the riqhtt hAreunder ~hall ~nure h~. the rr~~e~n~r v~,~r;.~•T, ;~+~d as:igr~; c~f I.encie~ aod Barrower.
~ubject to the provitionc ~f paragra~h 17 hereof A!I r~~acn:~nic ;~nJ ae^•~•:nrnt. rf R~rn~u•er ~h~ll he io~ry and teveral.
The captions and headingt of the paraeraph~ ~~f thic Mnrtea¢e are f:~r r~~m•rn,rnre ~~nlv :,n:i are n~t to be uced to
~nterprei or define the provi~i<.n~ i~ere~f.
14. Notice. Erce~-t f~r a~y noti.e rcy~~ired un~ler .t~t~ii~.~hi~_ I,,a ;,~ fx K~~~'n •r an,,eher manner. fai any notice ta
Bnrmwer provided tor m Ihis Mnrt~aee ~hall hc rivc~ h~ m~~linr ~u.h n,•t~~_r ~•. ,r~t;fir~1 rn.,i) ~ddre~:cd to Bormwer at
the Pn,perty Address or at auch .~thcr :iddre~. as N~~rn~Hrr m~~ dr.~en.:r.: i~~. •: r,tr t~~ 1 r~.ic: as pn~vidcd hercin, and
(h? am notice to Lender shall he g~ven h~ cerlifi~~! m:uR r~•e~~rn re~.~:c~r rru.~_~tr,+ r.~ I er:.icr'~ ad,lre~s statrd herein or to
such ~,ther addres~ as I ender mar~ de~ienate h~ n~~i~cr t~~ H~~rr~~uer ~c rr~~.:d~~~' ~,.r,:n ~nv nc~tice ~mvided for in this
!N~~r~gage shall he deemed t~~ havc hccn cnrn tn R~.rr.,..rr ~~r 1 rr~drr uh~n ;~~r~~ in !~.~• men;;er ~lecigna!-d herein.
15. L~RI~OlIII M0~1R9~P, Co~~emine l.aw; 5r~erabilih. 1h:~ f.~+m ~~t R~ ,~F;s,~ ~~n ~u,rc ~~n:form c~venants for nat+onal
USC df1(~ non-ur~ifurm C~~~Cn;fnle with limitr~t ~a~iahunti ht ~tiri•,.1~i t!~.l~ h, ~~~n~'.i+ 'c a an:t~~rm uCUf~t:• instniment covenng
« al property- This :11orlgage shall be g~~~rrned h~ thr leu nf Ihe !:.n«LCti:~n ~n schtch the Property ~t located. In Iht
evenl tha~ any pro~•is~on or clau~e of ~hi. !~1ur~~;aec ~~r ihr '~,~te :~~nt~~•,n uu~ .,~rii,ahle I3N, SUCFI c~nflict shall not afiect
other prov~~ii~n~ of thie M~,rtgagc ~~r Ihc N~~Ir ~h~.h .,::~ hr ~~.~n e!(r:i ..~•~.~~,t thc c.~uflichnk ~rrni~ion. and fo this
end the provi~i~,n~ i,f the til~rtgaRe :~nd thr \,~tr arr ,ic;?.,;ri± t~~ ^e .e.~erah'c.
16. Borrower's Copt•. BorfoHer ~hall hc furn~~h~•~t ,~ .,~nf~~rmed ~;~;~~ ut ;%~c '~ic~te ~nd of thit Mortgage at the time
of execulion or after reiordation here~~(
17. Transfer of the Propert~; Accumplion. It .~II ~~.. an~ i..~rt ~~f the f'n~Fr..!~ ,.r an ~ntcre~t thcrem ia s~~ld or trancferred
by Borrower w~th~~ut I_ender's pri~r wr~n;n ~~~ment c~;li~,lin~; ~.~~ thr ,rc~,;:i,~ri uf a!~en ~~r rncumbrance tuFw~dinatt to
thit Mortgagt. (h! Ihe creahnn ~~f .+ ~ur.h,~~r m~•nr~ ~e_ur~t~ intere~t frr h~~uceh~~!.f a~~~L~nce~. fc1 a trans(er h~• deYisz.
detCent or hy ~~peration ~~f lav- npt+n Ihr iicath ~~t .~ ~~ •r.t trnnnl t~r '~-.~ t~r cranr ,~f :in~ !ie«hi~ld mterest nf thrcc }'carc or less
not containing an ~~ption t~. purchase. 1 ender m~~ ,~t 1 rndrr'. ~~ph~~n. de~i.,rc .~~1 thr ~ums tiecured fiy th~s Mortgage to bt
immed~atcl~ duc ~nd pa~•ahlr I rnder ~h.,ll h,~.c N.~;:rd ;~,.h ~~~•t::~r r~• , •.:tr ~f F~nrr h, the ~ale ~r ~ransfer. l.ender
and the perzon tc. wh~~m the Pr~~peris ~. t~. hr .rt,i ~+r tr,,n~ttrrrd rea.h .~F~~_inrnt ~n wntc,~g Ihat the crcd+~ ~~f ~uch pcrson
~c sa(itfactor~• -i. I.enJer and th:it thr ~ntrrc+~ pe~.~hie ~~n the ~i~m, ce~ured h~ !hi~ M~,rtvage ~hali bt at suzh rate a~ I.ender
shall reyuest. If 1 ender has w•ahed thr ~~~i~~~n t~~ JCII'Il'fJlt pr:i~idrd ~n ih~; ~~er:~xr~ph 1~, and ~f Borrower'> >uccessor in
interest has extcutrd a wntten as~umpuvn .s~:recmcnl eirr~ted in unnng hv I endrr. I.ender shall releace Borrower from all
obligat~onc unJer th~s Mor!g~ge and thr ti~~t~
If Lender e~erc~~rc wch upti~~n t~~ accr(er~tr. 1 rnJer ,hell rne~l Hc~rr~~ker n,rt~ce ~f acceleral~on in accordnnc. ~.ith
paragraph 14 hereof Such notice tihrill ~.r~~v~dr .~ pen~~J r.f n~~t Iet. then z~l ~ia~, ir~~m the date the notice is mailed v~ithin
wh~rh B~~rruwer may pay the cum~ derlare~! due It He~rri~Ner teilti r„ ~a} tiuch ~i~m~ pnvr tc~ Ihe expiralion i~f ~u~h per~c~d,
Lender may, w~thuut turther c:~UCe ~~r J~mand ~~n ki~~rru~er. im•~i~c an} rcrnedics ~rrm;ttc,i hy paragraph IR hcrcof.
N~~-UNIFORAi Cb~'Fti~NTS Borrc~wer and ! ender further covenam and agree as follows:
18. Acceleration; Remedies. Except as pro~ided in para~rapb I~ hereof, upon Borrower's breach of any corenaet or
agreement of Borrower in this !-1orlRsqe, includinR the co~enaots lo p~y when due any sums secured by thh MortRaAe, I.tnder
prior to ~ccelerstion shdl mail notice to Bor-ower u pro.ided in para~nph 14 hercot specltying: (1) the bnsch: 12) Ihe adbn
required 1o cure such brcsch; (3) s date. nol less Ihan 30 da~c trom Ihe dstt fhe netice k miiled fo Eorrov.er. b~ which sucs
Meach must be cured: and (4- Ihal failure lo curr such breach on or b~(orc 1h~ date speci6ed in the notice mar rcsuh in
accelcratan ot t6e sums secured by Ihis NortRa~e, toreclosure Dy judicial proceedin~ ~nd sale of Ihe Propert~. The notke
shall turther inform Borrower o( lbe riAht to reinslate after scceleration and Ihe riAht to a~seA in Ihe forea:bsurt Proceedie~
the non•existence o( a detault or anv other defence ot Borrower fo accclerstion and toreclosure. If the bre~cA is nof cured on
or before Ihr dile specified in the notict. I.ender at 1 endtr's oplion may declan sll ot fht su~ns secured by fhis MoA~aRe to be
immediaftly due and payable without turther dem~,nd nnd ma~ (oreclost Ih€. MortRa~• by jud'ecia) proceedinR. I.rndt- chdl
be eotitled lo collect in such proceedin~ all e:pen~e+ ~~( (oreclocurc, {ncluding, but no1 Gmited to, rcasonable ~~~•~~nr-.'s fees,
and costs of documentary evidence. abctracis and lille reporfc.
19. dorrov~ePs R~ht to Reinstate. tintH,~h~i.u~~f,nr I en,lcr'~ accclcrah~~n ~~! the ~um~ tiecured by th~s M<~rtgage
Borrower shail have the ngh~ tu ha~c en~ ~r~nrr~t.n~. !~r~~~+, ~:~ Lrnder t~~ cnf.~•~e th~~ '~1~~rtR.izc d~~c~~nhnueJ at an} hme
~ . :'~x 351 ~~~~~ 2444
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