HomeMy WebLinkAbout24671 rnJrr~~ writ~cn .~~;rrr~nrnl ~a appi~iablc Idw. H:~rruNrr ~hall pa~ thr .unuun~ ~~f .~il m.~rt~;.~~;r imuranrr premwrn~ m tht
m:mnrr ~~~~~v~ilr~l undrr pai.~~raph 2 hrreo(
Am~ amu~int~ Ji~hiinC~l h~ I rn~lcr pur~ua!it 1~~ thi~ ~.u.~~~.~~~h 7~~th ;ntcrc•l ihcrrun. th:+ll 1x~r~~mr addihc-na)
..~_.~,~;.,~.t:~.•. :•! !'>;•...~.,,: ...;tc::t ?:'. it~~. tt,.~i ' 3i„ie„
:.~~~. i'~~~.°.. ~~•i ,~n~i i ~~n,ir~ .~ ~rrr tr ~~h~v trrm• ~~( ~,avmcM. ~uch
aim,unh ~h.~ll tx ~~.~~ahlr ~r~un n~~ii~r fr~,ni I rn~ir~ ~~~ R,+rr~~~~~r rr~~ur.i~n~~ {~.~~rn~•~~i ih:•rr.,f. .,n~f ~hallw•ar intrrc~t trom tht
d.~tr u( ili~huncmcnt at Ihc r:ih ~:~vahlr (r~~m timr t~~ t~m~ ~~n unl~tandinR ~nni r~,:ft ~indr~ !hr !~~+tc u~~ie~~ pdym~nl o~
~ntcrect at surh ratc wuu1~1 hc ~•~,ntrar~• i„ a~,ph,ahlc l.,w. ~n tih,,h ~~rni .~~~h :,ni~,~:nr~ ~h.~ll -x•a: ;ntr~c~t :~t thc hiRhett rate
permissible under apphcahle law. Nuthin~; :~mt,~inr~i in Ih~. ~.:~i.i~;r.~~~h ?~hall ri•:~~iirr I rrufer ti~ ~ncur any eipenu or takt
any action hcreundcr.
$. inspectan. 1 endrr mav m:~lc ~+r ..~~~,.• t~• Fx• m.~~lr n•.~.~~n:~Mr rmnr. u4,~~n .~nd ~n,{x~•t~~,m of the Property. provided
lhat 1 ender chal) give R~~rn~w~r n~Hir~ pri~~r 1~+ an~ ~,uih im~k. ti~~n .perifyu~~; rr~s~~nable cauc~ thereior related to [.ender's
mtcrccl in Ihc Pro~rtv.
9. Coademnation. The pnxeedc ~~f am• a~ard or cla~m for damaers, direct or c~.ntequent~al, in connectio~ with any
condemnation o~ other taking of the Pmperty. ~~r pah thereo(. or for cunv~:vance in beu uf cundemnation, are hereby assigned
and shall he paid to [.ender.
In the eveot of a tot.~l taking of the Pro~xrry. ~hc prixredc ~hall bc applie~l t~~ ~he sum! hr~ thic Mortaage,
with the eYCecs, if any, paid to Bormw•rr In ~hc cvrm af a partial taking o( ihe Pr.~;mrty, t!4~`E~orrnWRr and Lender
o~herwise agree in writing. there shall tm apphrd t~~ ~he sumc ucured by Ihic M~~rt~.,Ke .~~ch pro~rtion of the proceeds
as is equal to tFat pro~xxtion vrhich ~thc am~~u~~t ~~( thr c~im~ ~cr~~red hv this ~1~~rtc:~~c irnmcdi.~telp pnnr to the date of
taking htarc to the fai: market valuc ~~f thc Pr~~~xrt. ,mm~rd~atrh• ~+n~~r te.Ihe datc ~f !:~kinK. Nith ihe haiance of the proceeds
p: id t~, Bor~owe~.
If the Properlv ia ahand~~nc.l h~ H~~:r,~~cr .~r ~f .~I~rr nr1~~_c hv 1 rn~irr m R~~rr,.wc~ that thc condemnor ofiers to makt_
an :~ward i.r settle a rla~m f~~r d;im.~~;r.. Bnrr~~~vr~ f.~,l. i~+ rr.~•nd t~~ I cndcr v~~thin ~1- ~1:+~. :,(~cr the date tuch natice is
m.-iled. I_en:ier i~ :wthc~rind t~, cc~llect and .~~~I~~ ~he prc-ceeds. at I en~ier'. r~~i~m. e~ther tn restoratiun or rcpair of the
Pmpcrl~ ~~r t<~ !hc wm~ .c:ured h~ ~hi. A1nr~~;~cr
i~nic~~ i Cni~cr anU ni~rrowcr o~n^.rw~~r :l~re~ m untmc. an~ ~u.n :i~~E~ii~eiii~n ~~i p:;Krru~ iu E~iii~ii~~ei ~iidii i~i.i iXiii.v
~~r Fx.~;pone the due .iatc .~f the m~nthh• inct~llments rcferrrd t~. ir~ p,~r~era{~h. 1 and 2 here~~f c~r change the amount of
wch ~mtatlment~
i0. BohoMer Not Releaced. Etten~ion c-f the t~me f~~r ~:~~ mrm <~r m;•d~fi::~t;~n ~f am~~rtizati~~n ~f ~he sumc securcd
hy thic M~~h~age eranted h~~ 1 ender Io an~~ ~ureec~c~r ~iz inirrr~t of B~~rn~~+rr chall not c~~rratr to « leace. in any manner.
the Iiahilily of Ihe original Borrower and $~~rrower', .e~:~r...~r~ in interr,~ I ender ~haH ^c~t he rry~~ired t~~ rnmmence
~r~.credinf~ :-~aintt ~iich sucre~sor or re(uce t~ er~en~i timr f~~r pa~m~•nt ~~r c~then+i.e m~~dift• am~~:tira:~.~n ot the ~~~ms
~c.ur~d h~ thi~ Mrngagc hy reacon o( ~n~~ dcmand m:idr M thr ~~ncr~~al Rrrr~~wc~ .in~1 R~~rr~~uers tinc:etti~~r~ ~n inle:eq.
' I1. Forlxar3nct bv l.ender Not a R'ai~er. An~ f~~rtxar~nir h~ ! rn.ler in ctEri;t~nk :fm ~i~ht c~r remrdy hercunder, or
~~thenvi~e a(fnrded h~• applicahle law. thall not hc u wai~rr ~~f nr ~+re:lude the c~cr~ctir of am~ w.h right or remtdy.
Thr ~rocuremcnt ~f insurancc or tht paVmcM of t:~~c~ ~~r ~.tner l~ens ~~r ~her~ec h~ ! rnder tih.ii3 n..t he a~:aiver o( l.ender's
ri~h! t~ ac~clcratc the maturitp of the indehtcdnccs cc.umd h~ thc: ~1ort~:+1r
12. Remedies ('umulative. All remediec pm~~~ded ~n th~. !11~~rtRace .+rc disiinit .+nd cumulat:ve to ~ny osher right or
reme~iy under Ihit M~~rlea~e ur afi~rded hv law or equit~•. .~nJ ma~ tx r~erciud c~•nrurrrntl}•. ~nde~e:~dently or succecsively.
~ 13. Successors ~nd Assi~ns Bound: Joint and Se.enl I.iabilify: ('aptinnc_ The r~~~enants and :iqr~ements herein
c~ntained chall hind, and the riRht~ hercunder shall im~re tc~. thc rcapec!ice ~ucce~u~n and aesignc ~~f [ ender ~d Borrower.
tubjecl to the proviaionc nf ~ aragraph 17 hcreof .All r~v~nantc and aKrrc~mcnt: ~.f B~rm•..er ch~ll hc i~~iry and sevt~al.
Tht captions and heading~ of the para¢raphc ~f thi~ M~~rtg:~Fe are f~~r i~~nvenicnie c~nl}• :mJ arr nn~ t~ tx uced to
~nterpret or define thc pmv~ci~~nt here~(.
14. Notice. Etcept f~.r any not~;c rcyuired un~lc~ :~(~pli~;~hlc lau t:~ hr givrn ~n am~~Fer rtanner. lal any n~tice to
Borr~~wer provided fnr in Ihic ti1~rtFaee ~hall he ~rvrn ht •n~ilin~ +u~h n~~tice h~ ,~ r~~fied :ti:+il addreticed [o Bor~ow•tr at
the Property Addrecs ~r at such .ahr: addrrti. a. B,~rn+acr m.~. de~i~.nnte h~ rn+ti~e t~~ f ender ac p~rn•ided herein, and
thl :,n~ notice to Lender shall he grven M cert~fir.i m.~,l rrt,un rr~r,; r rr.~~,c.~ed tn 1 en~+tr'~ addrea stated herein or to
tuch other address a~ Lender ma~ de~i~n-±tc h~ m~t~:r !~~ H:~rn~•..rr ~; rr:~~:dc.1 herc~~~ 1n~ noli~e ~mvided for in ihis
~~..r~gage shall hc deemed t~~ fl;l~~c` ~Cft C~~'tn I~~ H~~t~~~'.~it ~>> ~~'m~C! ahCR ~;i`•Cit IR th~ f!l:f;i~tff (~E~:ignated herein.
l5. Unitorm MortA~~e: (:or•ernin~ I.aM: Se~er•rbilit~. I~:,~ ',•-m .~t m~~rt~ace c.~mh~n~i un~form cc~venantt for nationa!
USt 3l1~ non-unifa~ffil c~~~enant. with IimiteJ ~dflJti~+C~ h'. ..~Ct~u:.l~~~(7 1~~ ~~~~~~hi:~(f 3'_1f~~Ei1~'IT} ~er:ir~t~~ inttrument covering
real pmptrty Thit Mortgage ~hall he g~~vcrn~•c1 h~ thr i.~a ~~f th~ ninc,i~~t~~~n in which the Propert~' i~ I~xated. In lhe
event that a.~y prov~s~on ~r clau~e of thi. ~1~~rt~:~er ~~r she '~~~re ~rnfl~,t~ wich :,~, li:~ble lau•. su.n con!lict shall not aHeet
c~ther prnv~cionc of th~~ A1~ulKagr or Ihr '~ii~tr ~+hi~h ;,~r, hr ~;~~en elTe~: Ni'hc~u( the ie~^fli.ting pm~i~ion, and to lhli
end the provi~ions : t the M~~rtgage and thr ti~~t~ arr ~t.•.I.~rrd ta~ hc ce~~erahie
16. Borrowers C:op~. Borr~~Ner tih:~!I h~ (~irn~~hc+t ., i~~nf~~rrncd ~~~~~ ~~f thc ti~te :and ~f thic tit~rt¢age at the time
.~( exe~ut~on or aftcr recordati~in here~~f.
17- Transf~r of tbe Prop!rty: Accumptinn. lf i1i ~~r a~~ ~.~+f ~•f the Prrperts ~~r an rntere~t thert~n it t~~ld or transterred
by Borrow~r ~cith~~ut I.ender's pnnr Hnt;,n ~~~n.rn: c~.lu~ling ta~ the ~re.+ti~~n ~f .~ lirn ~r encumhrance tubordmate to
th~~ ~lortgage (hl the creah~n ~~f :i ~ur~h,,.r m,•r,~~ .rrun~~ ~nterev f~~r hnu~ehrld appiianrec. /cl a tran~ien c~ devix.
de~cent i,r h~ ~peratian ~~f law up~n the +icath ~~f .~ ~r~nt lenant ~~r (:+~ the eram .~f am icaachnld interest ~f !hrec }~cars or Iess
not rontaininK an option M~+tir~hase. ( cnder m.i~ .~i ! cnJer'. ~~pt:;+n ~1~..'.:•:~ .~tl the :~~mti ~e.nred h~~ th~s 1lnrtgage to bt
immrJ~atcl~ duc and p:+sahle 1 rndcr .h.ill h,~~c ~+.,,~rd .~+.h ~~i~~~n r,, +.,~~rr.ite ~f. pn~r :o the cale or Iransfcr. Lender
and the ~rc~n m~+hi~m the Pro{-ert~ ~. ~,~ hr •~~!J ~u ~r,~n~ferrrd rea.h .~~;r:.~~~~,nt in wrt~ng th~t thr crr~f~t ~~( wch percon
is sati~ia:t~ir~ m I.en~ier and th~~ the ~nt~r~.t ~a~,ehlr ~•n the ~um~ tiecured h~ thit M~,rt¢age chall t+e at surh rate a~ Lender
shall request -f 1 ender has wa~ved ~hc ~~!i~~~~ sn ~;re!er~te pm~~de.i ~r. thi~ ~.1lJQ7~~~1 I7 and if Borrower'> >ucctssor in
~nter•u ha~ eiecutcd a w•ntten as~um; unn ::grcemrnt aicerlcd in wntmg h~ I en~ier. Lender shall release Borrowcr frt~m atl
obhgat+~ns under thit Mortgage and thr :v`~~t~
(f Lender eterrites tuch ~phon ~r a~yc~rr,,tc. ! en~le,- .h:~li re~~~ H.~rr~~wer not~,e ~f e.ceierat~on in a.c~rd:+ncr ~~~th
paragraph 14 here~( Such nouce ~hall pr~~v,de a~xn~K1 ~~f n~~t les~ than zn daqt irc~m the date tht notice is mailed with~n
wh~ch B~~rr~~Ner r~ay pav the ~umti Je:lar^c! d~ie If H~~rrc.wer t~~l. so pa~ tt~~h ~umc pnor ti~ the eipirah~n :~f ~uch pene~d.
l.ender may. wuh±~ut further no~~ie ~~r ~icmand ~~n ti~~rruwer. ~m.,Ae an~ remed~es perm~tte~i h} paragraph 1R hereof.
NON-(?NIFOR41 C~O~'Fr~NTS Borrower and ! ~nJer funher covtnant and agree as tollows:
18. Acceleration; Remedies. Fxcept ab pro.ided in paraRrsph 17 hereof, upon Borrower's breacA ot any covensnf or
sRreement of Borrower in this 11ortRaAe, includin~ Ihe corenanls Io pay when due any sums sccured by this MorlRsAe. I,ender
prior to a:celenlion shd) mail notice to Borrowcr at pro~ided in para~rs~h 14 hereo( specftyinR: (1) tAe Dre~ch: 121 the aclion
required to curt such breach: (3) s date. not less than 30 da~s trom the date the notice is mailed fo Borro~-er, by ~•Aich suc-
bseach musf Dc cured: •nd (4) 1ha1 failure lo cure such brcach on or ~etorc Ihe dNe speci6ed in Ihe n.,tice msr «suft ia
acceleration of t6e sums secyred by Ihis ~tortRa~e, foreclosu~e D~~ juJicial proccedin~ and ulc o( the Property. The notkt
shdl turther inform dorrower oi Iht riRht to reinstsfe afler ~ccelention and thc ri~ht to useA in Ihe forec!osurt proceedl~
the non-eiistence of s default or snv other defence o( Bonower to scceleratiun and foreclosure. I( the bre~ch is no/ curtd ou
or betore the di~e speci6ed in tbe notice. I.~nd~r at 1 ender't opl'an may declare sll of Iht snn~s secured by this NoA~aRe fo bt
imme~iately dut ind payrble wilhoul /urtber dem•rnd ~nd ma~ toreclost this Mort~a~t by judicia) procetd{n~. I.tnAer chdl
be eotitltd to colleet in such proceedin~ sil expen4es .~f tnreclocure, includinR, but not limited to, reasonable at~•~rn~•ti'c fets,
and costs ot documeatsry evidence, abslracis ind litle reportc.
19. Borrower's RiRhl fo Reinslate. ti~~tu~~h~r.,~~;f;n~r 1 cn~ler~~ a~iclerati~~n ~,~ the tium< <ccurcd hy th~t !N~~~Igagt.
Horrowet shall havt lht' nght ~~~ ha~e .im ~r~~.rc~+...,,• •.r.:;•: ~': L-rn:ler ;" cn(' '-c !h~• i~ ~rt~.~~tr ~I~~..~nhnuc~7 at en~ hmt
I.I . ~~
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