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HomeMy WebLinkAbout0953 I ender's writttn agreem~nt or ~ppl~..~hlr I:~w fi~~rmNrr ,hal1 ~~a~ thr amauni ~~f all mon~age insuranre premiums in the manner provided under p;?ragraph 2 hrreof Any amounts disbursed by I.enJcr pur+u.+nt ia ?his ~~r.,Fraph 7. ~~~~h intcrc~t thereon. shall become addi~ional indehtedness of Iio~rowrr cecurtd fi~ th~ti ~t~ui~agr t'n!r,~ B~~rr,~u~~ ;,n~l 1 rn,ler acr~c to c~ih~r termc of payment, such amounts shall tx payahle upr~ n~~ti~~ fr~~m 1 rnd~~ t~~ R,~n.~..~~ i~•~{,,r,~in;~ ~~.,~mrnl lhcrc~~f. and ~h~ll h~ar intcrect froln the date of disburstment at :he rate patahlr fr.~m timr t~~ t~mr .~n u~it.~.~ndin~ ~rin:i~.i! under the Note unlecc pl)'ment ot interect at such rate w~ould t+e contrar~ .~{~~~li~ablr I.~~+. ~n ..h~rh ~~rnt tuih ;tmc~un!< <hall hcar intere~t at the highest rate permissihle under appli~able laH. ti~,thin~; ~~~nl.iinc~i ~n ~hi. E.:~r;~er.~~.h 7~h;~ll rcyuirr 1 cnd~r t~ incur any erpcnse or take any action hereunder. 8. Inspection. i.ender ma~~ m.~1,r ~~r.a~~,r tc~ hc ma.l~• rr.,u~nahlr rntrie. u~~~~n .~„d incpecli~~m ot the Pr~pert}'. provided that Lender shall give Burtov~es n.~N~c nri~~r ti~ ant ~u;h ~nt~r~t~~~n .4~^;+(„ng rr,?~,~nablc cau~C ther~fc.r relal~d tt~ Cendtr'S interes, in the Propert>. 9. Condemnatton. Thc pr.~rcrd~ <lf :If11' J~~Jf(j ~la:ni f,~r ~!.~~nac~: ~iire,t ~~r c~~n.cyucntial, in conncction with any condemnation or other ~akinF thr Prr, rrt~, rr ~~ari thrre~~f <~r fur ;~~mr>:+n;c in licu of c~~ndcmnati~m. are hCreby assigned and shall be paid to l.ender. In lhe ~vent of a I~~tal tal.in~ u( thr Pr~~F~crt~ th~ ~~rc~~ec.l, ~hall hr .~~•~•lii~! In Ihe cumt secured hy Ihit Mnrtgage. with the e~ce.s. if an}• p.~~d t~~ Horr,~~.rr In ~h~ e.rni ~~f ~~arti.~l t.~t,in~ rhr Yrc~rrrt~ unle« Aorro~•er and I_ende: otherwise agrc'e in ~+r~ting thc're shall hr a~~~~!~r~l t~~ tht ~um~ «.:irr~i h~ thi. ~t~~rtc.~ic ~t1ch pfOp^rtinn ~f the proceeds as is equal to that propurti<~r. Nhi.', th~ .in,,~~: ~t ~~f ih~ ,um. .r.ur~.i tn t'i~, ~f~,rt..~~c inzmediatel~• pri~r t~, thc date of taking hears to ~he fair mari,et ~alur r( th~_ Pr,~; _r!~ nzrr.r.i~.~trl~ , r~~~c t~~ thc~ .I.,tr .~f r,~~,ing. ~+ith the halance nf the proceeds poid tc~ Borrow~er. 1f the Pruperh~ i~ ahandnneJ h: R~~rr~~~~~~r ,~r if ,~ft_•r n~~ti:r h~ 1 rr,iicr t~~ A~~rn~w~r that the c~ndemnor offcrs to make an award or ~cule a claim f~r dam;,er, 11~~rr„wcr (a~!• r,~ rr.M~n~i t~~ 1 en;lcr ~~th+n Z(1 d~t~c aftcr the d~te tueh notice is ma~led. I.ender is authori?ed te~ c~~lle:t an.i a{~~~I~ th~ ~r~~;cedt. :i~ 1 en;trr'< <.~ti~n. either to rectoration or rcpa+r of the Property or t~ the sum, .~cure~i h~ thi. \tc~rtc;~er Unlest Lender and B~~rmurr ~~th,r:~ ~~c aerrr ~n ~~ri~in,~ am ,u:h .~~rl~.•.~ti~~n nf ~+m.-ecd~ tr prin~i~+al shall not ettend ~r postp~,r,e thc due ~iaee ~~f rh~ mr~~~'•"~. ~,.t,ILn~n~. r.•frrr;,1 t~~ i~, r:+raLr.tnh. 1:~nd ? herc~~f or chan¢e the amount of surh ~n~tallment, 10. Borro»er \ol Relra~ed. 1=~~r, ~.~,n ,,t ~hr ~:n,r t,~r ~.~~m~n~ ~~r n~,,~1ifi~:+i~~+n „r .~m„rhration ~f the ~umc secured by' thi~ ~irrt~.~er er.+ntr~! h~, I cn~ii•~ t~~ ~u~~_~.•,,r in~c~r~t B,~rr.~.+cr .h.i+l n~~~ ~~~cr.ilc t~~ release. in an}' manner. the liab~lit~ ~~1 the :,ri~in.~l B~~rr~~~~~r ,~r,d H~~-rr~.~_~'. .:~.~i..~~r, in in,crc.t I rntltr .hall ni~t FC fcyuirc~l t~~ C~mmence ~f(kCC~IiI(~~ 3~.1~f11( ~U:fl tiU~.Ct)~~f ~~f !i'~~.~•~' 1~~ l'~Itf~~~ (!flli ~~`f E~.~\itl~'~~l nf' i~Ihitt~I~C f11~~~ti(~~ am.•rtizatic~n Of IfIC SURIi tie~ureJ h•, thi,'.1t~~rte:Cr h~ re:~"~„ d~r~,.in;.l m.~,i: h~ !hc ,~r~_,nel R~~rr~~,•rr .ir:' R,~rr~~w~r~. .ti;:«•~ttc in intereat. 11. F~~rAearance b~ I.e~dcr \~~t a~~ai~rr. rt~,:,r.,~~., F,~. I rnJrr in r~cr_ .!n~ riih~ ~~r remed~~ hereunJer. or ~~thCrw'i~~ ,~t~~~nli'.1 h~. .i~r!~:.i~~!; ' r . , ~ '~rr : , F~~r~'uJ~ ~fic : ~i•ci~~ ~~f .~n~ ~~t:h riiht M rfmCdv The procu~rtncr,r ;,f in~ur:~n~: , . •F:~ j~.i,,,•~~ , , ~ .~t!~~r ' r~:. ; .F~.: ,_r. ti~ I rnder .Fi:~ll n.~[ he ~:~i~er ~f I ender~s fIRf1[ l~~ :f:.~'~l'G.~fi t}IC Rl.~';.•1!\ ~if ii,,~-. . _ 'c'~~ h~ ;h., ~~~~r(~.~i~_ 12. Remedie~ ('uniulati~r. ~11' rr : . , . ~i „ r} , \1,•~~_.~~~ ~r, , ,,n,l ~ ~•n~~ic~ticr tr ;l!1\ ~+If1Cf nght ~t remr.i~ .,~zelrr t~,,• !11~:;!~.~_r ~ , .~tf.,;.1::! ~ . . . r~.. . •~r. . r~~n~l~ i,zJe;~rndentlc ~~r Sucie~ci~tl}~. 13. Succeltion and 1~~i~;n~ B~~ni~~f: I~~int anrl Sc~cral 1 i:~hitit~: (:ipliun.. f~_• _n~~~;.+nt~ and ~ere~'men~c herein ~~,,~~:~~n~,~ ,t~•.tn r•.,,~.? ..,,,i : j,~. ! . . . ,i~ ; ~ . . ~ . ,~r I ~•~:i~ r .~n~i Arrn~uer. ~uh~e:t t,~ thc ~r~~.ivi~n~ .~•.ie; - i. •i • . . , ri. , R,,.. th.,~l . .,t .~n:l crveral The ia~h~~n. .in~l hea~i:n;. , ! iF:.;' . ~ \1 . _ ~ . _ . .~;~!t .:c~~ .i*_ h~ u.Cd to inlefCfe( ~~r drf!ni the F~t~~~~~i,~r, hirc: + ~IIfIfP. F'\~cjli i; , drl`. !I- . .C ~ ~ . ~ ~ i ' . . ~ . ~ _ ^ ~t .II1. :!:Cf ill.l'~f~., .:f~ ^~1f1iC t(1 ~~~tri~~~~r ~f.~~.~i~:~.1 t~~r ~ft 'hi. ~1~~r!~.i_,~.~ .i.. !i !~i1 _ . ~ ~ . ~ . ~ • ~ • .~-I~.tii~l nl.i~l .i~l!1!i~.C.1 li~ B~~ff<~\tCf 3t thr Pr.~,,rrt~ :~.~.ir~.. ~~r ,,lil,; . . Ei . . - ~ _ _ ~ . ~i.r t,~ I enJr~ :ic ;~r~.s~iilCJ hcrein. and Ihl an~ nvtiir t~~ l rn~ler ;h.ill '~r L:~~ n~~~ ..,+iti;,i , ,..r . .r~i~..~!i~'. I rn.ier', adJ~ee~ sta~ed herrin ~r to ~uCh c~ihCr .f~l~iric. ~e;~.l~~ rt.,t .1.~~_• , 1; •t,~.~ir ;~r,~..,1:'.,l ~;~!i~u -\n) n~~lii~ ~n~•:~d~~! iuf ~n thl~ ~1t~r!K.~t'~ sh.i!•. hi' .leirn~•ii t,. },.i.~ _ , ~ . . .,hrn e:~i~n in Ihi ma~,n~~ Je~ignatc~i hcrein. , 15. ('nifurm ~1~~r1~;a{;e: Ci~~crnin~~ I :i~•: 1c•~r.ihilif~. 1 . . .r~~,,r:.•,_: . ;n~ir~~. ~.n;f~~rm ~.•~ei~,.;r~t, fc~~ net~~~nal , uce ~n~~ n ~n nnit~,rrn .r~cr.,..,~ ,.~~i; t:~,, . ' . . . . . . • , . ',~rm ._,,,~~t~ in.tn~mrnt r~~~~ering ! real prr~+rn~. ~(h~, ~SUfl~;.il: ~til.:`~ }~C ` , , .~1 . IF:C F~f ir ifl~" . ~i~~diClj {n the eveni !h_iI .u~~ ^r ~~it . ,~t ":i ~1 _ ~ \ ' , ,~i: .+~.ti • ~.h nt!:.! ~hall nnt atTe:I 4 ~~ther prr.:,i,~n, ,~f thi~ t1,,rt . \ . ~ . , . . r~ c ~i~~~ ~rn•.i~i~~n .~n;1 tc~ this ~.~L~ , ! end the pr:~~ni~,n~ ~~f ;hr ~1~~rt~acc anJ thr ~ ~r. , . ~ .i , rc . _rar' 16. BURUNCf~S LOP~. ~Uff~~.~~.. . .i~i h, 1i~'I' . ~ ..~f';1~~~ , ~ ~ ?~~i ~~~!i .~Il.~ i~~} i~ll. ~~11:I~:.11~`C at the t~mc of Cxeiui~on ,r after re~~~rd.eti~~r~ he;:~~f ~ 17. 7-ransfer uf the Prupett~: 1..um~~iiun. I~ , 1,,,,,~..~, ,~.~n ~.:,<r~~. rl:_•rr.n i, „•?d rr trancferted ~ f+t Bo[r~~',~rr u;fh ~ul ~ er~lrr~5 E,.~~ r t . . ~ rt . ~ i~~~ ~r,i~,~~~'t.e ~u~.~,-,1 rt.ifC , , lh~ti M.~i[C.~gt (h) IF,e ~rcat;, r. i r~ ~i~.i.t •n. .u i nlcr. . t~~ ` „r~~~~?~1 :,~+{~'"n.c !ran.ler h•, dC~ise. '•.t?1 (~CtCttlt ~~f h~ ~~F`~:'.ih~in ~ii ~,n~ :i~.,r, IF~i .:.t; , . ~ ~ . ..:r' . , • ~-~~:i• . ~ i: n:Fi~~~~) intC~CSI i.,, r}.:rii ',C.1rti Uf ~CSS not contain:n~; :ir ~,~ti~~n t: E~;~r~h.,~c 1 r~ . . i ~ • .1.. . ~I,,, ,.:n:•, .~~_~~-rd h~, t~;-i ~t; :l~age t~ bt immr~i~alcit diie ~nd ~at.:hl~ I ;nilr~ ~!„~i' . ,:..1 , • .r ~(r ~ ~~ri~~r t,~ Ihc ~.,1•~ ~~i tr,~n~frr I enJef .y and thc ~rr.~~~~ tn ti.h,~rn thr F'r~•F~r~t~ h~ , _ ,.~~t ..r ~ c ?tti.~~ ~hr rrc.~~t ~~f ~u:h person ~ it salisfactnr~ t~~ lxn~.ier ~:id Ih.,~ ,h,• int_•rr .i t, .h`` is,~ .r, ~ ;~l F~~ \1,~-;ti,~~~ ~h.~li hr at ,t: ra,~ l.erider sh:~ll reyur,t If 1 en:ler h,~. ~a:~~~e~? th~• , ~ !,t ~ ~h ~ an~1 f3,~rr,~..r; ~ suc~e,tior in ~ ir:teres( h~. e~«uI~~J a wi~ttrr. a,.uniE~;.,~i~ ti~.'t:rn~.•~~r ;~i ir ~ ! rn.l~, r!:~r ShaU rr!c.~« f3nrr~~•acr from all ~ ubligationti un~lrr tht~ Rtort~:.~cr aud ih~ `.~tr ~ ~f [er~de~ ~tcf.I.~~~ ~t~.}1 ~~,)I-~~n t~~ .~,~~.~c".~'^ ~,••,..1,.• ~3,~;~.•.~,.. .i~~;i,i .i~~:Cl~'!.~'t~+n ~n ~~cirdance WIIfI ~~:if3(SfdF'{": ~ti ~iifC~~~ SU~fI [l~~!kti ?fi: [^i~-~i~•; (~tiii,'.l ;~I Il~`! ~'.'l~ i•t 711 ,i.~~~ 1r.~lTl ?'1: ~~::'C IFI~ I~v[IlC K mailed within Nhi:h B~+rn~~.~~~ r.t: ~ p.~~. t}~r tit~m~ ~1i , ' ~1, ~ I+ fi. r~~~. . . , ti ~ ~ - • • t~, _ ~~~~:.~!,nn such ~efiod. ~ Lenilcr m..t~. H;Ih~~ut furtiirr n~~ii.r rr J~n~.~:;.! li,•~r,~ ~~r in~. ~rtiir~l~r, ^r~rnil!c.i h~ ,^~racr.i~h hirCOf. \Uti ('~IF~k~t Ci~~t ~~~7, Fi,~rr~,~~cr .~nJ I rr.,lcr ;urth~^ ~.rr;.,n~ ,tr,,1 s~rcr a. l~ll~~w. ~ 18. Acceleratiun; Rernedie~. E~~ept ati pro~idcd in par~Kraph 17 t~ere~~f. up~m Borr~~Ker'~ brexh of ~ny co~enanl o[ ~ agreement of BorruMer in Ihiti 1iurt~;a{;e, iniludinK the c~~~enanl` to pa} ~~hen due an} sum~ secured b} this !41orfRage, l.ender ~ prior to acceleralion ~hall mail natice Iu Borro•+er a~ prn~ided in p~ra~~apl~ la here~,f specif~in~: (1) the breach; 12) fhe aetion ` required tu cure wch brrach; (31 a da1e, not Ie~v than _l0 da~~ fn~rn thc datr the nutice i~ mailed to BorroMer, by which toeh r ~ bre~ch mast be rured; and 14) Ihat failure tu c ure such breach on ur before Ihe d~te specified in the notice may result la ~ arceler~tion ot tht sum~ securcd h~ Ihi. ~t~~rt~.~~;r, torrclu~urc b} judi~ ial pruceediny; and sale of the Properiy. Tht notite shiU furthrr inform BorroMer uf thr ri~;ht to rcimlate afler ac~eleralic~n and Ihe riRht to a~.sert i~ the f~eclosure protetding the non-e~ititence of a clef~ull or an~ othrr defcn.e uf RunoNer to a~~eleration and foreclosure. If the breach is not curtd on ~ ur before the dete specified in Ihe nntice. I.ender a~ I ender'S option ma~ Aeclare all of the sums ~ecured by this ~iortgaYe to be immedi~tPl~ due and pa~eble Hithout further demand and ina~ foreclo~r thiti ~1ortRa~e by judicial proceedin{;. Lender sha11 ~ ~ be entitled to collect in such proceedin~ all e~per»es o( f~uecl~~~ure. inriudin~ but not limited to, reasunable attorney's fets, ~ and cnsts of documentary e~iAence, ahstra~ e~ and IiUc reports. g~ 19. Borrower's Ri~ht to Reinot~t~. ti,,,.,~tF.,tanding 1 en•?er ~,~~.elct~ti.~n of the tiumt ~ecure~ by Ihis '.1lortaage, ~ Bcrruwer shall ha~~~ the right t~~ heve .,n~ pro~ced~n~c. hegun h} 1 r;~dcr tc~ enfor;e thi~ :~tortgage d~scont~nued at any Iitm ~ ' ~n " t ~t~ ~ ~ , eoac~ ~~E ~~1 ~ ~ ~ ~ _ ~ , _ < _ _ ~ ~ ~,a~. .w ~ -r~z