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HomeMy WebLinkAbout0960 I_endtr's written agreement or apph~.~t~ic I.IN' ~~O(f(lN~f tihall pa~ ihc amuuni of all mortgage inwrance premiums in tho manner pravided under paragrzph 2 hrreof. Any amounts dishursrd by I.tnder pur.u.,nt ~u this ~ar,sgraph 7. w~th interest there.m, chal! become additional indebtedness of Borrowrr secured b~ th~s ~1rn~;a~r l'nlr.~ B,~rr,~.~r; anJ I cn.f~r agrec to other tcrms of paymcnt, such amounts shall he payable upc~n noii~r frc~m 1 rn;ic~ t~~ Hrrr~~~,rr iryu~.iinc {~.~~m~nt theru~f. and chall tkar inlerest from the date of dicburument at the rate pr}•ahlr frrm timc t~~ t~me ~~n eiu~ct.~~idin~ pnncipal under the Note unlecc paymtnt of interest at such rate w•ould be cont~~r~ i~~ a{+pli~ahlc 1,~H. ,n tihi~h c~rn~ ~uch am~~unts ~hall hear interest at thc highest ratt permissiblt under applicable !aH Nothing ~~~nt.~ine~t ~n thi; ~.;,ra~~a~h 7~hall require 1 ender to incur any expense or take any action hereunder. 8. inspection. i.ender ma~• makr c~r.,i~ne t~ he n~;,dc rra+nnahle ~ntrie~ i~~~un ~nd inspectirn~ ~t the Pr~pert~~, nrovided that I.ender shall give Borruw•er nutire priur to an~ ~u~h m~prct~~~n .E,•~;i(~~ng rca;~~nablc cau~e therefc~t rela~ed to Lender's intere~t in the Property. 9. CondemnaNon. The pm~ced. ~~f an~ ;,..,~rd ,~r ~I;,~m (~~r ~lamaer;. ~iire:t ~r ~un.cyuential. in conne:tion with any condemnation or olher taking of thr Prr{~erty, nr part thrrr~~f. ~,r t~~r c~~n~•~~~a;~;e in lieu ~,f c~~ndemnation. are hereby assigned and sha11 be paid to I_cndcr. In ~he event of a total t~kin~ of thc Pr~~~rri~ th~ E~ro~e<<ic ~hall hc ,,~rlic,i t,~ rhe cum~ sccured by this Mortgage. w~~~~ ihe ercess, if an} p;,id t~~ Burr~~~~rr In ihr cvrni «f a~,rti:~l r.~l.in~ ~hc f'ro~en~ unle~c Borro~•er and Lender otherwise agrec in writing thcrr sh:iil he a~~~Lr,l ;h~ .umc ~e:urrJ h~ th;. \1~~rr_•,~~c ~u~h propertion ~f thc proceeds as is equal ta that pn.porti~•n Hhich thr .~m,~„~~t ~~f thr .um~ .r,~~i~d h~ thi. ~i~~rt~.~ec imm~di~tely rri~r io the date of taking bearc to the fair market ~•alur ~~f thr pn~{~rrt~ ~nim~.i,,~tel~ ; n,~r t~~ thr ,I~Ir r;,k,,,g. ~~ith the halance of the proceeds paid to Borrowcr. if the Proper~~~ is aband~nc.i h~ A,~rr,,•.~~•• ..~r ~f. ;~Ftrr n~~ti;r h~ I rndcr r,~ Rrrr,~wcr that thc condemnor offers to make an award or settle :t c13im fe.r J;,n~,~er. };,,i~„wer j,~,l. t~~ rr.~x~nii t~~ 1 en;irr u~th~n 2(1 da~c af~er thr date such notice is mailed. Lender is authorited K~ cc~lle:t an~l a~~+l~ th~ prc•~crdc. :~t 1 ender'. nrtion. either ro rectoration or rcpair of the Proper(y or to the sum, .c~ure~i h~ ~hi. ~i~~rteace Unlesc i.ender and Borro~.rr rnhrn.~~~~ aerr.• ;n ~.ritin•r am ~~;,h ,~~~~~.~ti~~n ~f ~nxcedc t~~ princi~+:?I Shall not etitend or pc+stpone the dur dare th,_ m,~n~hl~ ~:~.r;~llm,nr, ~,•f~•rrc~1 n~ if, ~~,r:~cr.~~h. 1 and ' herc~~f ~.r chanqe the amount of wch ~nstallment~ 10. BorruMer ~ot Relea~ed. F~tre..:~~; thr !~m~ f~~r ~.~.m.nt ~~r rn,~difi:,-~~inn „t .im~~rti~ation ~f the ~umc secured b: thn Mrr1~a~~ crantr~t h~ 1 rmi.r i~~ :n~~. .u.,,~,.,~~ . in;crc.t ,~f R,~rr~~~~r~ .h.~ll ni~i ~~~.rr.itc t~~ rclcatc. in any manner. Ihe habililt the ~~ri4cnal A~~rr,,.~,r .in~1 H~~rr,~:~~r~. .u:~.,,,,-ti inrrre,' t rn.icr .hall r,~~t h~ rCq~~ireil t<~ CommenCC pru~;eeJing. :ftj,l~(1)1 \U~fl 1!I~.CC)~~f ~`f fC~U.C 1~~ t`~lin,~ tilT'.C ~~~I j~.i~llli~il ~+f ~11hiIN;.t f11.~.~1~~ 1R)~~f11781~R~1 (lf the SUR1S .e~ureJ hn thi~ M~~rtgae~ M re:~.,~r~ ,n~ drr~,.~n,l m.:;1r h~ ~h~ ,~r;~,nal Burr~,~,~~~ .~n~i 8~~~:~~w~r'c ~uceeticr.re in interecL T1. Forbearance b~ Lendcr 1nt a~~~i<<•r. !,,~hc.,~.,~-,~ h•. I rnde•r in c~~r.~.~n; .~n~ ri~ht nr rrmedv hereunder. or ~`Iheru•iSC atT:~r~~.l h~ :~p~!i:.~hli ,~c t,,.• ! i •...~~~.rr , ~ ~.iu:1r !h~~ i ~e~ci~< <~f JJ~~ ~tl.h riCht c~r rcmedv. The pro:iu~ntent n~ in~t!ran:: ~~r tF•r E-.t•r,r~~; ,,,~th~r ':~n~ : r.F.ir_:. h~ 1 rrder ch.~ll nnf hc ~~•:~i.~er ~f l enJer's fiqfl[ Ii~ :ti:ilcr.~iC the ftl:els!rilt .~f •tti i•.i~it.~•:~1.., ~ ~ti~; h~. ;h:. \1,~*IC.~:: 12. Remcdieti ('omulali~c. •1~~ r, rn; ! r. : . J~:i t! , \t~~rrti• .:r~ ,~:,t.n.t ,n,l . inii~!,itic~ l:~ ant ~~IhCr r,ght ni remr.!~ .:n.1r~ th~. ~t~~rt~.~c: , , .iti, r,1:~i , . r•,.r, 1~. , . . : ! . ~n..i-~:r,{l~ ;itidcpcnde~tl: ~r snCre~tively. 13. Succe~sort and .1c~i~;n~ N~o~~nd: I~~int ;~nd tic~rra) 1 i:~hitil~: ~(I~:~~r~~~~.. rh: .i~~r;;ant~ ~nd ~eriement~ hCrtin ci~r ~:~m~',! ~h.~l! t,in~1 .ini1 thc ri:n'. },c*~,. ~,!~r ; t, . . . . . . ,~n,! :i..i_~~. ~~f 1 en~ter .,nd R~~rrc,uer. ~Ui~j2CI f~~ IhC ~ti`ct.~~+;7~. ~~f (i.~t.i~f.i;i~•. t,; . . ~ , . . ~ i ~ ~ , ~ . . R~•. ,.~r~ Sh:ill h: i~r,n' .~~id cCVer3~ The iaph~~n; an~l hea~)~r ; ~ ! th~ . . _ , n._~, ~ nl~ .,r. ...~t t~~ F~ uced io ir;cr, rrt r~r drfinr th~• ~r~~~;.i,~n, h_~rr,~~ la. lutice. F=~;e~; f~~; .~n•. r... . 1 • . ~ i .~i .in,,.tirr m.~nn,_r ; .~:n• nntice in H~~r:~.~urr l n~ciili~ t~~r tn ;tii, 11: •le,:_~c ' c• ~ - . ~ ,:'i , , + . ,~ri,~~i~, rn.~il .~J.in~..r~ t,. Rc~rrc~.~er at (hC f%:~F~Crt) ~~~1~1ri•.~ :f! .,;,h ~~r?,~'r :t~?c!r~.- . f~ ~ ~ ,r i,.' ~1~,':•n.:'i h. ~:i• I cn:IC! (~~c~~•i~Ct~ hcrein. and (hl an~ noti:r tr 1 en~ler sh.,ll ! c e~~:n :~~t:ti„I rn.~:: r:~i~ ~~U:;:.~r,+, I en~i~r'. ad~ir~c~ atated herein or to , 1U~=}] u1~1Cf 31~~(C~~ .1\ ~ Citl~C' I'l.~'. Jc~~i_'r..~'~ h. ~ , , t , .~.~.~it~ .i. , .~.ji~~ ~tCtciit ~~tl~ fil~lliC (1~~~C1(~C~~ ~tl~ Ifl (~llt \1~~rtgaRr sh.~~l hc~ ~lecmr~9 n~'~.r.~ .•,r, , . i{ , , 11 ..hcr L,~~n in tF,• msnncr ~It~iF~~at~d txrein. ! S l'nifurm ~Tort ~c: Gn~crnin ~ l :i~+~ 1 r:~.nlil~. I • • ~_..•,,.~_.~.i .~~ni ~ir~; k L 1 ~ ~ ~ . i,rifi~rn? .~~•:c'l:f!;t~. ~i~i n3lt(1n31 IiSC ~fl~ ^t~tl-llfll~~~fftl i~`'.ln.lt;i~ t~~•i. • ~ . . . . - ' . . . . . . . . ;~.'li:'~~rrl? ~C~.'JI~h It1~If1~f11Cf1( li~\'f(Ifl~ real pmr:rt' lh~, ~t.,~~k.,~r ti!:., i,. _ . . • t~~ . ~ • Pru`~rt~ ~ l.+,atc~1 In the e~'ent th~t .,r`. r,~.it~~,n ,~r ~I;, ~.r . ~ ~ ~1 1 ~ . . ~ . ~ ~.h nili.t h.ill nc~t :tffcct ; _ . _ '.,•.i ~n ~ c~ther pr~n:v~+n, ~~f thi~ '11rrt:.+e~' . , t~:. . . 1. _ . . , • . . „i~ ~,rn~i~irn. :ind tn [his F erd the pm~i5i~,nc rf thr ~1~~rt~axr ,~n~t ~~,~t~ :~r i: ~•r.i~,, ' 16. Borruwer's Cupy. Rurr, .h.~!; . . . . ~ ~ •~:.~~;1 . , . ~h, ?,~t: .~n.i t . ' h; ~turf~.,gc at the timc x of exeri:tion , r afttr re:ur~eti~,n hrrr,,r ~ 17. Tr~nsFer of the Prnpertti: :~..u~npti~~n 1' ~ • p•, ~r :r •-r~~ t~ ~:~~r• i. „~~d ~•r trarcferred ~ by Born,~rr N~th.~~.;t Lcn~l~r'~ p:,.~: , . ~l. . . ~i,,•. ~ .i : r ~ , rn.~~nih•:~n.c ~uhrntin;ite t~ lh!~ Me~rlg.~gr Ih~ thc ire3l~,~r r,::.'~.,.r rn,,,,,~. ._..ri'•. ;nter~~,t 1,,• ~,:•r.rh~,',~ ,n~{'!i.~n.e,. Ic~ .i ~ranc(er h~ de~~ist. ~f-~ ~ dCSCf(tt ~~r h}~ :~~rr.~tii~n ~~f I.f~.~ ,~F,,~,~ tf:i ~ ' . .\!i~ , ',~n' ~•1 ~_.~,;hr~~~ intC!:'tiI ~~f IF~~.r~'i ~~C:lf~ or lets t n0I containing :~n ~~~[ic~n t;~ ~ur~h.ne ~ ~t~,+r: r:.~, i ; ,a: il:`.'.,~; 'hi .+im,. .r.~.'t~'ii !'n ~h.5 \1~~tlg;f~C 10 bt irnmeif~etelt~ duc :+nd ~:,~.:h~C ~ ifll~•.'! ~f:,fi~ ~ .f.: i '.)r , ' ..i~i.' I!i (~rh~~ I~~ f}!t' ..~~C ~~1 lt.iflSfCf ~ l'(11~C~ : and the prr.~~n t~~ uh,~rn thr Pn,~r~t~ i, i,~ , , , t•.~~,.~: . ' . „ ;~~.~t thc ~rc.+it c~( .u~h person i~ sat~~fa~t~~r~ tn I cn,irr and thet Ihc int~•r•_~~ . ~hL . , t~,~ , . . .,1 , \1 ~~~,.:cc•~.h,?t h~ ....h .a!; .i. I.c::dC~ shall reyuect It I ft~~ICf ha~ uaiceJ thc ~h n~1~.<<~~.~(~F 1' anei R~•rn~.,rr'. Succe,~or in interes! h.:, ~~e.utc~i a kr~ttrr. .u.umi~t ~~r,, 't:! :r, ~ 1 rn~.frr I cnJer th;~ll rclcaec~R~~rmuer from all ~ ubl~gat;on~ un.3er tht~ ~1~~rtg.~~c a:~d the ti,•tr + ~ If Lender r~rr.i.r~ .u:h ~.+pt~~~~; f~~ r~.:'c I~ irr r, {i,.~~ ,,~r. ,~;~t,.r .~:::Irr.it~nn m ac:ordance with ~ psr.~Kra~n 14 t~~rcr( St;rh r,~~tii~• .h E~r,~. r,•,'. r~. ~ Ir~ r~ i`~ ;L~~. fr~~m th cl:~tc the nulicc ic mailed within ~?h~~h Hurr,»~r m.r~ ~a'. !hc ,iin~~ il~.t.,•r~i 1 . I' Fi.,- . ~ , ~ . ~m. ~ - , , c• i ~~`ir.iti~~n n( ~uih pCfi(~. Lcnilrr me~. u~th~~ut (urtt~~r n.~t~.~ ~~r J~~n~.ir,~i , n tt .;i~~, .:n', ~r.n~~i~; s~:•n~ tt~J h•, ~.i~acra~h !R hrreof. r ,'`titi~~.tillUH~t C~1~~I~~~T~ Hc~rt~~u~r ,~n~ ~ c't~.;~'~ fil[.h~'! . ~~'.i:i.~nf ,in~ ~Rrie .n fc~l~~~~t~ ~ , 18. Acceleration; Remedie.. F.~cept ati pro~ided in paraKraph 17 here~~f, up~~n BormKer'~ breach of ~m co.enaqt or ~ ~greement of BorruNrr in thi~ ~tortKa~c, includink Ihe c~r~ena~4~ lo pa~ ~+hen dur an~ ~umti secured by this Morfq~gt, Lender prior to accelera~iun tihall mail notice lo Borru.+er a. pnnideA in paraC~aph 14 hereof sperif~in~: (1) the breach; (2) the aetion ~ required to cure such brcach; (3) ~ date, not le+v than iU da" (n~m ihr date the notice i~ mailed to Borrower, by wAlch snch ~ bre~ch mast br cured; ~nd (41 that failure tn cure tiuch breach un ~rr before thc date specified in the nofict may res(~lt in ~ s.celer~tion of the sums secured by Ihi. ~1~,r1~;.~Re, fore~l~~.ure b~ jndicial proceedin~ and sale af the Properh. Tht notiet £ shall furiher inform Borrower u( thr ri{;ht to reiml~IC ~f~cr sc.elera!~~!n a~d Ihe riKht to accert in the foreclosure procetdine the non•eaistence of a defaull or pn~ othrr defrn,e uf Run~,:~er to ac~~eleration and forecl~sure. If the breach is not curcd on or brfore the date specified in the notice. 1 ender a! l.ender'S optiun ma~ declare all uf the sumc ;ecured b~ thic ltort~age to be ~ immediat.ly due and pa~able Nithout furthcr demapd ~nd inay foreclusc thii ~1ortRaRc b~ judicial proceedin~;. Lender shap ~ be entitled to collect in wch proceedin~ all espenses ni inrecln~urr, includin~ but not limited to, reasunable adorne}'t fets. ~ and c~sts of documentary e.idence, absha~ts and riNe reports. 19. Borrower's Right to Reinalate. ti;~tu~th~cand~ng I i~r.:ier. .~c,eler.,!iim u( Ihc sumz .ecurcJ by this !Nort~age. ~ Borrower shal{ ha~•e the nght tu have an~ pr~~.cc~i~ng, he~u~ h~ t cnd~r t~~ enfur~c this '.4lortgage JisconUnued at a~y ~i~rte ' ~ 399 - 9Go ~ , - n~e~ ~ - ~ ~ . e~~~. ~ ~ ~ , ~ ~ ~ 9~9t P~tr ~ ~ ^ ~ _ ~ - - _ ~ ~ ~:~,~~~-~~.xh_ ~ ~ ~Y:_-,~.~.~ ~