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HomeMy WebLinkAbout0827I.~nd~r'c writtrn agrcrmcnt or :~~,ri~.:~ni~ i:~H. ti~~rruHC~ ~hall pap ~hr anuamt u( all mor~gagc imur.~n~~ prrmiums in Ihc mannr~ pmvidr~l undrr paragraph 2 hcrcof. Any amuunts di,huned by L~nclrr pur.u.~nt tu this p:~ragr.~ph 7. ~~iih ~ntrrr~t thcrcon. ~hall h~r~~mc additiunal inJrMrdnr~. of B~~rro~~rr securcd by ~hi. 111c,nLa~r. l'nlc.~ R~.rn•~~~r anJ 1 rn~kr :~g~r~ 1~, othc~ tcrm~ ~,f paymcnl. ~uch am~,unt~.hall hc pa~•ahlc u~x~n n~airr fram 1 rnder ~~~ Burru~~rr rryuc.ting pa~~mrnt thrrr~~L and ~h.~ll Ixa~ int~re~t fn,m thc datc o( di.huruumcnt at Ihc ratr p:~yahlc fr~~m timc t~~ limc un outst:~ndine princip:il undcr Ihc Notc unlc.. pa~•ment of intcrest at surh ratc would hc r~~ntran• t~• :~rrr~~hi~ I;~~v, in uhinc ~vcm ~uch am~~untc .h;ill hcar intcrc,t at thr 1-ighect ratc ~xrmissihk und~r :~~~i~~;~nic laa~. N~-thing coniai~cd in Ihi~ par:~~~aph 7 chall rryuirc LcnJcr 1~~ incur an~~ ex{x;ncc or take :~n~• actian hcrcundcr. ~ R. Inspection. 1 rndcr ma~• m:d.r ~~r ~a~~.~ t~~ F+c madc rrau.naMc ~ntric+ n~~.,n and in.~xcti~.n. of thc Tn•~xrty. prm•idrd ~h:~t 1 rndcr ~h:~ll eirr R~.rm~~•cr n~~~i.•r pri~~r 1~, :~m• ~uch in~~xrti~~n .Fxcifyin~ rr:~c„nablc c:~ucc Ihcr~f~~r rrl:~tcd ta 1 cndcr'~ int~r~~t in th~ Pm~rty. 9. ('ondcmnalion. Thc pr~~.•rcd. ~~f :~nc :~~~.~rd ~a rl:utn f~a il:unac~.. ~lircct ~,r r~a~.cqucntial. in c~nncrti~,n with am• :ondcmiiati~~n ~~r.~thrr t.il.inL ~~f thc I'iu~•rrt~•. ~,i ~~art lhrrr~~f. ~•r fi~r a~mr~.~nr~ in liru uf c~~ndcmn:~tiun. arn c~rch~~ a~cis~ncd .~n~l ,hall Ik ~~:~id t~~ 1 cnd~r. In Ihc r~cnt rf a t~~tal Ia{.ine ~~f thc Pr~~~•~rt~. Ihr ;a~+.r<<k .hall tk .~~~r~,i t~, ~hc wmc k~nrcd h~• Ihi~ \1~~rlgaGC. ~~ilh !hc r~:c... if :im~. ~.,ud ~~~ R~un~~~rr In thr rv:nt ~~1 a ~•artial t.i~ine ~•f Ihr Pmpcrl~•. ~inlc.t Bt-rri~wrr and Lcndcr ~~th~~~~i.. .r±r« in ~~ri~in~~ Ih~•rt• ~h.ill Ik :~~~~~li~~l ti~ Ihi• wnt~ .e.urrJ M• Ihi. !11~~rlt:~eC ,i~~h pm~xx~ion af thc prc-~cCdc .~c i. r~~~i,~l tr that {~~,q•,,r~i,,n ~~hi:h th~ .~m~~u~~t ~~1 ~hr ,um. .r:~~rrd h~ Ihi~ \I~~ttL:iLC immrdiatrl~• pric,r t~, Ihc datc of t.~ki~iL Fx•ei, t~, th~ f:~u m:ul.rt ~.du: ~d ~hr Pr~,~•rrt~ ,m~nrJ~.~~rl~ ~au~~ t~~ thr J:~tc ~~f talini. ~~ith ~hc h.~lancc ~•f the pnx~cdc ~i:iiil ~~, R~~~r~~~~~r. It ~hr Prupcrtc i..,l,:~nd„nr.l i~~ R~~rr~+~~rr ~•r if :~~~rr m~tiir h~ I rii~lrr a~ R~•rr~~~~rr th~t Ihr c~ndcmnor c-Ifcrc m makc :ui .~~~.~nl ~~r .~ttlr :~ rl:iim l~~i ~I:~m.~er, R~~rn•~r~r f.u!. t~~ r;.~~~n~l ~,, I rn~lrr ~~ithin i(1 ~L•i~~ :i(Irr thr d:~tc ~uih n~Hirc ic m.ulyd. 1 rniirr i. authc~~iird 1~~ c~~llcit an~l .i~~,l~• thr ~a~hrrih. at I rn~+.rr'. ~~~,ti~.n. c~lhcr t~~ rc~tnration ~u rc~air of thc I'r..~x~rn ~~r h• th~ wm..r:urcd h~ Ihi. ~t~~rt~_:~ec l'e~lr~. I rn~lcr :md B~~rr~~~~cr ~~thrn~i.~ aerri in urilin,~. :ui~ ~ii:h ;~{>>>I~..~ti~~n i~f ~r~arrd~ t~, prinri~al ~hall nM r~tCnd ~.r ~w~.t~~~nc thc duc ilatr ~~f thr m~~n~hl~ in.t.~llmrnt. rrfrrrrd ~~, in ~ ~c.~tr.~,~h. I:~nd ' hcrc~~f ~,r chanec thc amc,imt ~f wrh in.tallntcnK. 10. RormN•er \nl Iiclca~ed. F~trmic~n ~~f thr t~nn t~~r ~,:i~mrnt „r m~Klifir:~ti~,n ~•f :um.rli~at~nn ~•f thc wmti ~ccured h~' thi~ ~i~~rt_~atir erantr~l h~ ( rn~}er t~• :~ne• .nccr.~,~r in int~rr.1 ~~f Rrrn.~ae- .h:ill ni~t ~~~cratr t~~ rrlra~r. in :~ny man~~er. ti~~ liahili~~ u( Ihr ~~rie~n.~l {3~~rm~~rr :~nd l~~~rr~•~~rr'. ~~i:~~,.,~t. ~n inlrr~.t I rn~ler ~h:~ll n~~I 1.~ rr~~~~irr.l t~• cc~mmenre ~•r.~rr~.ling~ .~L.~imt wrh wrir,~„r ~~r rrfu.c t~~ r~~rn~l ~~mr I~~r pa~mrnt ~~r .-thrn~i.r m~Klif~ :~m~~rtiialu~n ~~f thr sums ~c~urrd h~ thi. \t~~rtcac~ h~ rca.rn ~~i .~m~ d~m.inJ madr h~ thr ~~rie~n:~l It~~rr.~~~~r .~n.) li~~rr.,ticrr'. ~urie~~~~r~ in intcrcd. 11. NorF-earancc M• I.rndcr \nt :~ N'ai~er. •~n~ f,,r-.~:~r,uiir h~ 1 rndrr in r~cri~•ine .~m richt .,r remrd~• hrr~unJcr. i~r ~~thcrH•i~c :~ITr.rdrJ h~ appli~aMr I:i~~ .h:~ll n~~t h~ .~ ~~.~i~ri ~~t ,tr ~r~:liidr th~ r~rr~i~r ~~f :-n~ ~u~h ri~ht c~~ rcnted~'. 7hr ~nk•nrrrncnt ~•f in.uranrr ~•r thr E•a~•mrnt ~~( t.~~.•. ,~~ ~~thrr hrn. r~ ih:~r~_r~ M 1 rRdcr .hall n~~t Ixr :~ ~+.~i~•cr ~•f 1 cndcr'c richt t~~ ar:rlrr.it~ thc maturit~• af Ihr ind~l~t.•dni•.. .~ _~ur~l M th~. \t~,rtcaer. 12. Remrdicc ('umulali~•e. ~111 r~mr~!ir. ~•r~~~~~lyd ~n thi. ~1~~rti:ier :~rr ~ii.tin:l :u~~i :um~il:~ti~•r t~• :s:i~ ~~thcr ri~ht ~r rrinr~h und~r thi. \1~~it~z.~_~r .,r :dT~,rJr~l h~ la~- .+r ry~ii~~ .~n.l m.~~ Fx ~~~rci.rJ r~~ncurrrnth. inilc~nilrnllc i~r ~u.c~•ci~•rl~' 13. Succecwn •rnd A~tiiKn~ Buund: Jnint and Sc~cra) I.i~hilih: ('apliom. "6hr iu~~nani. and .~~r~cmcM. hcrcin i~aita~nr~l .hall hind. .~nd the rieht. hrrrund~r ,h,il: •ninr t~~. thr rr.~k:1i~~ ~~i.cr..~~r~ :~nJ :-~•i~n. ~~f 1 cn~lcr :~~id B~~rn,ucr. .uhj~ct ~~~ Ihr rr~~~•i~i~~n. rf E~,~r:~~t.~ph 1- hrtr~~t ~!I ;~,~rn.u~t. .~nJ .~r.r~cnt~nt. ~~f F3~~rrr~~rr ~h:~ll Fk i~~~nt and ~ct~cr~l. Thr .a~tiun, .~nJ hra~l~nz. uf Ihc ~~:~r.r~-.~~h. ~~f thi. ~1.~rlrei~ arr f~~r r~,n:rnirnir ~•nh~ :~n~l :~rr m,t 1~~ h~ u~cd 1~ inlirrr~t i~r def1~~~ tlt~ rmt ni:~n. hr~r~~f. ld. \olice. E~.c~t frr am• n~~h.c rr.;~~~r«I un~l~r .~r~~li:.~hlr 1:~~~ t~, h~ Li.rn in an~•thcr manncr. fa) :im• notice t~ fi~~rn~~~~r ~r~~~id~d f~~r ~n Ihi~ \1~~rii:i_~r ~h.dl Fx L~~~~e f~~ mei{in_• .u:f~ n.~ti~~ ht ;,~~~r~~i m:~il :uidr«.rJ t„ R~~rr~~~-ir at tlic Pn~~.rr1~ :~JJrr.. „r :~t .ii~h ~~thrr :~~Idrr.. .~. R,•rr,,~~rr in.~~ c!~•iLr~.,~r h~ m,ti~~ t~+ 1 cn+i,r :~ti {+r~~vi.hd hcrcin. :~n~) Ih1 :~n~ nrti~r t~~ 1 rnilcr .h:~ll F*r ~_~~rn h~ .rrlifir~l ni.,il. tct~~rn rrir+E,t rryu~.tr~i. t~~ 1 cn~ICr'. ad~trr« clatrd hcrcin ~~r to ,:-- ~~~~h ~~Ihrr :~ddr~~. .~~ 1 rnJ~r nta~ Jr.icn:~tc M m~ti.r 1,~ B,~rn~~~rr .~+ ~r~~~~~ir~l hcrein. ~~m~ n~~ti~•r (?r.n•ideJ f~~r in Ihi~ ~1rrtL:~~r ,h.~ll Ik ~Irrmcd t~• h.~~i h~rn ~v~~•n tu Rrrr,~~~~i „r I ~n~rr ~~hrie Li~~n in Ihc manncr dc~iLnatcJ hcrcin. I5. t'nitorm ~turtK•rkc: Go~erninY I.a..: k.crabilih. 1 h~. t,~•n- .~t mc~n~~:~~_r ~.~,mhincs iini(i~rm r~~~•cnam. f~~r n:iti~,n:~l n.c :~n~! n~m unif~~r~:i i~~~rn:~nt. :-ith lintiti•,1 ..~:~.~tn~n, h~ i~~~~.~t~.tn~~ t~~ .~+n~ht~~tr a tmifi.rm ~c.nrNC inurnmrnt r~~~rrine rral pm~r1~ Ihi. ~I~~rIL.~~r .h.~~l Fk e~~tr~n.•.1 h~ thr I.~.~ ~~t th~• inn.~!~:t~~~n ~n ~~hirh thr Prc~~xrt~ ~. I~w:Nr~3 ln Ihe rcrnt ~h.~t :~n~ ~,r~~~•itii.,n ~~r ilau.r .d thn \l.~rt~•.~_~i ,~r thr \,~tr ~~,nt]i:t. ~.ith .~~~~,Ii~.~Mc L~~~. wrh i~~nfli~t .hal) n~~t :~fTcit ~~I~:if ~~t~~\i~l~~ll~ Uf I~ti~ ~~~~flC.t~C ~~f i~~i' \~~ti ~~~T!.~l ..e!~ ~~i L'~~itl ~'1Ti~t •.~1'fhr111 IF1C ~~~I11~1~IIIlL rfl~\"I~N~II. :Illl~ I~~ f~lle ~n~) thr E~r~~~i.i~~m ~~f ~hc ~1nrt~~:~Lr .~nJ 1hr \.~tr .ui ,l,.lar~•d !,~ t~r .~•~~rr.ihii. 16. Borro.~cr'e ('up~. Borr~~«r~ ,h.~ll hr furn~,hr~l .~ .<~nt.~rne.•J ~~~~•~ ,~t tt,~ \r~~• .,n,i ~~f thi. ~t~~rtc.~er at thc timr .~t c~r:uNim ur .~ttrr rr~~~rd.~ti~~n hc~r~~f 17. 7~ramfcr ~~f Ihc Propert~: ~~~umption. It .~II ,~r .~,~~ ~•.~rt ~~t thr Pr~q,rrt~ rr .u~ iMrrc~t th~rrin i. .,~ld ~~r tran.fr~rc.1 h~ B~~rr~~«<•r i~~Ih.~iit 1~•nJrr'~ ~~ri„r u~itt:~r :,~n.r~tt. r~,-;i.iin_ ~.~~ thr .ri.iti~~n ~~t .~ lii•n ~~r rn.~m~hran.i ~uhur,iin:~t~ 1~~ thi. ~1~,rtc.~,•r. ~hi thc rrralu,n rf .i ~~ur~l:,~.r nt~~n~•~ ~iiutit: ~nt~•tr.l t„r h,a~.rh~~IJ a~~~~l;.~ttir~. 1.1 .i Ir.~n.(rr ht' dc~'itr. ilr.~~nl ,~r h~ .~~~rr.iTi~~n ~~f !.«~ ~i~,~~n thr ~ira!h ,~t .i ;,~~nt trn.int ~,t ~,t~ Ihr _•r.in! ,,f .~n~ I~.i~rh~~l~l ~nt~r~.t rt thrrr ~rat. ~~r Ic~. :u,t ~~~nt.iininc :~n ~~~tirn t~~ ~~~ir.h:~.r I rnJrr n~.~~ .~t I rnd~~~• ~•{•t;,,~: Jr:L~rr .~11 ~hr ~un-. .i.~irrd h~ th:~ \1nrt~aLr t~, h~ ~tnnt.•.Itelrl~ duc .~nd ~~:~t.~hlr ~ in~ir: .Ii.JI h.~~~ t~.~~~r~l ~~+.}t ~+~~~r,~n r,~ ;~~i.•Ic•r.ilr i~. {~ri~~r 1~~ Ihr ..~Ic ~~t ir:~ncfCf ~ rn~ICf .~n~l th~ ~r~„n tr ~~h~,nt ihr I'r~,E~<•~i~. i, t~, hr •.~I.1 ~~r tr.~n.l~rrr~l rca:h .i_rrt•inrnt ~r~ c~riton_~ th.il Ihr ir~.}il „f .uch ~xr.rn i, :,iti~fa.I~~n t~~ 1 in.irr .~n~1 Ih.,. ,. ii~trrt~t E~.~~.~hlr ~•n thr ~~ini. .r.urrcl h~ t6i. \1~~th~.~Lr ~h.dl hc :d ~it.-!i r:~t~ :~~ 1 rndcr ~h.~ll rCyur~I I( 1~n~irr h:~~ ~~:~nr,t if, „~~U,,~~ !~• :~:lr!~r..tr ~~i~~~~~i.•~1 ~t~ Ihi. ~~.~r.~~,r:~~h 1?. :~nJ i! B~~rm~~rt~~ ~u:~C~~~•r m ;narrc.t h:~. r~rrt~tr~l :~ ~~ntfrn .~..uru~~:~~,n .~err~m~•i~t .i::r{~trd iti ~.~r~tn~e In I rn,icr. I rn~lrr .h.ill rrlr.~•r B~~rr~~~~rr frt.m all :~hl~c.~ti~~~i, ~~n~lrr thi~ ~t„rtt.~,•c :ind ih: \~~Ic If I rndrr r~cr~~.r. .i~~l, .~~,t:~,i: t~~ .~:.r~ir.ttr. 1 in,irr .h.J! ni.ul 1{~~~t~~•.~rs n~~t~ir ~~f .~:crlrr:ihrn ~n .~:~~~r~iart.< <~~th ;~.ir.i~re~+h 11 hrr~~~l tin.h n~~h~r ~h.~ll ~~t,~~~~lr .~ t~r;;,~~i ~~t n,~t li., th.~~~ zli ,1a~. }r,~m iitr tlatr thr n~~ti:c i. nt:~ilcd '.~ith~n ~.~hi:h Brtt,~~~~r ~n:n ~•.i: thr ,n~n. ~1r.L~rr~l ~ii:r i! 1{,~rti.~,.t~•r !.~~I~ '~~ i~.~~. . :,t~ .~~nt. ~ri~~r t~~ thr r~rir.~U~~n ~~( ~u.fi ~~n~~il. I rn~lrr m.i~. ti~rth~~iil tnrthrr n~~!i.r ,~r ,}rt~i.~nd ~., IS,~rn~.~: r n~~~t.~ .~:~~ .:~~r~~~c. ~,~~rrn,th• ! h~ ~+.~r:~~•r:~~~h I~ hcr~~~f. \~~~-1'~Iti~K~t (~u~l ~~~t~ R~~rn~~~rr .~r~~l I i•nJir turthir ~',~~~n.in~ .~nd .~trr~ .~~ t~~ll~~w+ 18. :lcceleralion; Remedie+. Except ati pm~ided in para~raph 17 hereof, opon BorroNer• breach of an~ cnc~nant or aKrerment uf Rorrower in thi. ~tortRa~;e, includinfi ~he cn~enaot~ fn pa~ Nhen due am wm~ cecured b} Ihi~ ~1otlRa~e. Lender prior to acceleraliun ~hall mail nolice to BorroNrr a. prn~ided in para{;raph la hereof tipecii~in~: (11 Ihe breach; (21 the action required In core tiuch breach; (31 a dafe, nnl le« than ;0 da~~ from Ihe d•rfe Ihe notice ic mailed to Borrower, by which cuch breach muct t-e co~ed: and 1~) Iha1 failurc ~o c~~re .nch breach on or I-e(orc ~hr date ~pecified in Ibe notice ma~• recult in acceleralinn of Ihe cums Kcured b~ Ihi~ ~t~~rl{;a~e, forcclu~arc M judicial proceedin~; and ~ak of the Pmperh•. 71~e notice tihall further intorm Bormwer of the ri~;ht lo rcimtate after acceleration and the riRht lo a~+ert in the foreclosure proceedinR ~he nun-e~nlence of a default or •rm olher de(en.c uf Horruwrr tn acceleralion •rnd foreclosurf. If Ihe breach is not cured on or befo~e Ihe date tipecified in the notice. I.ender at Lender'c opli~~n ma~ declare all oi Ihe +um~ cecured b} this ~tortRa~e fo be immediateh due and pa}able Nilhout further demand and ma~ f~~rcclo~e thi~ ~Torty~a~e b~ judicial proceedinR. Lcnder chall be entitled lo collect in cuch pn-ceedinR all expense~ oi foreclowr~. includin~;, but n~t limited to, reaconable ~Uornec's feec. and co~ts of documentan c~idence, alrtrach and IiNc reportti. ~ 19. Borro~+er'c Ri~h1 to Rcin~talc. \,~t~ith~tandine 1 ~n.lcr'~ .~.:rlcr.n~„n ~~t thr wm. .r:ure~l h~ thi~ ~1~~rlg.iFc. R~~fri~w'Cr ~hell ha~•C thc riLht t„ h:~~~ .uit prr.~c~1~n~'. i•~ ._;in ht 1 i•n.trr i~~ rnt~~r.~• th~. ~1~•rlg.~cC di~:nnUnu~~i af am timc : a~oK •,~S PaGf ~~ ~ ~~zat. . . .._ . ~~ ~ . .: ~