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HomeMy WebLinkAbout0966 U~itFOR~ ('u~tn~*~~s. 6urn,uer :~nS .~c~~ani ~nd agrcc a~ fuii.,N~ 1. P~~ment of Principd and Inten~t. Hurn~Hrr ~hall pr.~mpti} ~~ay ~.hen dur the principal of nnd interest on the ~ndebtedness c~ idrnc«i by thr Alul~, p(eps)~mrnl an.l latc ih.~r~±c. ~r~~viilcd in thr N~~te .,nd the prin~ipa! u( and ~mercst on any ~unuc Advsncec secuTed hy'th~~ I~i~~rigagc )r ~Ymds~for 7'ates aed InsuMAce: Subjc:t t~~ app~i~ablc law• or to a«rit~en ~a~ver by I rnder, Burrowcr shall pay to L.ert~r ow thr d~y rncwnhlf m~teHm~~nri~f ~+r~n~ip:~l .~nd uitiri~t ari• p~1ahlC unJtr lhc Nulc. unt~l thc lutc p~id in (ull, a sum (herrm "Funels") cqu~l to cx~.e-twtlfth ~hr ~~.~rl~ ta~e. ,~n.l eti,~c~mrntc .~hich ma}~ attain pn~~rily ~~er this Mortgagc, an.l gmund rrmti.~n thc Pn~~~rrt~. if .in~. ~~lu~ ~~nr t•.+rltth ~~t ul} ~rrnuuni inttallmrntc for ha~~rd imurance, plus onc-lwrlflh t~f yearly prcmi~im in~l.illmrnt. t~~r m:~rtga~:c ~n.ur.~n~r. it an~. ~II r~at~,n~bl~~ ctitimatrd init~ally and (r~m time to time by l_end~r on th~ h,i~n n( astil'~~nt~•nl~ ~nil hil~? .in.1 ~~.i,.~n,ihlr Ci~un.~~c~ thereof. ~ilie Fund~ ~hall hc hcld ~n ,~n ~n,htut~~~n thc ~1cp~~~,t. ~~r .~;~~~untti ~~t s~•h~:h are ~muccd vt gtldra!itte~t b) ~ Fe.lefal Or state .~geni) 1 iniluding 1 cndrr i~ 1 rn~trr i. ,u~h .in in.ti~uti,~n I 1~n~lrr .h.~ll .i~~l~ the 1=und~~t~. pa~~-tiaid ~ate~, a~sessriunts, insuranr~ prrm~ums.~nd cr~~und rrnt, 1 rn.fei ma~ n~~~ .har,~r t~~i h;~l,l~~~c .~nJ .~~pl}i~ig thr f~un~., .,n~l~nng ta~d account, o~ verif~ing ~nJ cumr;ling ~:~i~l .~~~r~.mrnt~ .~n~l hil~. unl~,. 1 rn~l~r ~~s~, Ii,,rr~~Wrr intrr~~t .~n ihC Fun~i~ an~f :?ppl~cable ~aw permits (_en.icr t~~ make ~u~h Lt chargr. Harn~w~~r aRd 1 c~z.te~ n2_~) :+~rec ~n n1in~ tfie. tin~t -~2f e~c~ylion VI fhis ~ Rlottgage th.~t intcr~s( on the EunJs ,heTl tii: p.ai.! tu R~,rr.~~+~r. .~n~l unlr~. ~u~h .~~trCemeM is made o~ apphcablt ~law requires su~h ~nterttt tn he p:tiJ, ~ t~ndCr t~:~11 ilrf Fk" r~.{iiireJ l~~ p.i1 R,~rru~~~r ,~n} mltre~I ~~r c.~rn~ngs un lhe i'und~. 4encltr shal! gi~~c t~~ B~~rr~x~•rr, v~~ithou[.h.~r~e. nn :~nnu:tl .~rc.n~nttn~ i~f thc I ui~~t~ ~h:~win~; iridilS :~n.1 dchils~to thc Fufids'and the pur(x~SC I~~r t~hi.h r.~ch ~lchit t.~ thc ! un.1. ni.i~lr Ihr I un~1, .~rr ~~ir.l~~.1 .n .~~.li!i~~n.~l ;,~ut~t)' fur Ihc ~um~ teCUrfd n}• th~. ~torcgag~ If Ihe amount of thr fund~ hrid h~ I rn~lrr ~~~z<•thcr ~~;tt~ th~' futurr nt~+nthl~ in~I.illnicn!~ Fun~1~ ~:isahl~ pnur lo the due t1:Ue~ ~~f t.i~e~, .i,~e~~,ninl,_ in~uc.~it.r ;~ri'~ni~ini, .~nJ ,~r„~;~~.I r~ nt. •h.ill i~:rr.1 th~ anti~unt reyu~red t~, pe~' said t3xes, asstssment., ~ntiuran~r ~rrm~~.ini. .,iul Ln~un~ irnt, !hr~ ..;II ~i~:r .~i~h ~~.r., .h.+ll h~. .~t B~~rr.~HCr~~ i~~t~~~n. erther prompU~ repaid tu f3orro~~cr „r :riiiu~.l t~~ R~~rr,~.«r ,,n m,~nrhl~ n~.~.~lfnuni, ~~f l un:i. If thc .~muunt the Funds held by Lend~r .hall nut hc ,ulti~i~nt t~~ pa) t.~~r.. .n~r..nu!~t.. in,u;.~n~r ~rrmium. .~n.t ~;r~~und rent~ as thry fall due, Bormwrr shall ~a~ t~~ I cnJ~r .~nv ant~,unl R}4~`'~~~~~ t~, n,;il.r u~ thr ,+rh~~rn:~ within i0 ~ia~~ trc~m thc Jatc noUce is mailtd by Leodcr t~~ B~~rr~,Hrr r~yu~~tin~ p:~~mrn! ihcrr~,~ . ' Up~~n pe}m~nl in full rf all sum~ ;r~ur~•~l h~ thi. \t~~rt_.~~~~ I in~l:r ~hall ~+r~~in{•tly rrtun:l t~~ E3~~rn,~er .~ny Furids held h~' ( in.ler. If t!ndr: p:ragzaph 1K h,_•~~~i tt~r 1'ru~~•!t} „,;,lit ;1i: Pr~~~•cr+.~ .,~hr<<•i.c .~:yi,~rrd h} I e~d~r, I.ender shall apply', n~~ l;ilrr Ih.+n unnudi:~t~l~ E~ri,~~ h~ thr ,alr th~ Pr~~E~rrt~ it~ .i.yuiSitii+n h~ I,enilrr any Fund~ held by LenJrr .it Ihc tmu ~~t aE~pli~.~tiun ~.;.lit .~~•e.n,t !hi ,uui. ~i~.~ir~•.! h~ th:. \1~~rlgaC~ ~ ' 3. APpliration of Paymcnlti. I, n!c,. .~~~{~li.e~~l: ~.l~~ {•i,~.i,~:• :•th~r~..i._• 1 E~.~~m~•nt. rr.ri~~d h~ I cnder undcr tht Note and p:+r.~gr.~phc !.~nd 2 hrreut ,h;l! h~• .~n{~~~~.1 M I cn~lri tir,~ in ~•.~~nir~v ~~t am~~tm;i pa~ahle t~~ I en~lrr h}' B~~rrov?er under paraRra~h 2 here~~l. Ihen tu mt.•ri.t 4~; ~.~hl. ~~n th~ \,~ri thcn r~~ th~ E~r,n:~~i,~l th~ V~~t~. anel ihcn t~i ~nter~st and principal un ,~m Future Ad~ancc~. a. ('harRec: t.iens. B,,rn,~.rr .h.~'~ .~II _•nt. .~.?:1 ,~•t;rr .h.~+~~. fine. an,l ~m, ~„~t~unc attnbi~tahle to the Propen~ •.~hi~h may :~~lain a pr:,~ri1t :h~~ \1,~;!,.,:•,• ..~,~1 'r.~~~h~.I:f r.mrnt, ~~r tr~,und rents. if :im. in the manMr PIV~•i~1~J un~1~r n.~ra~rdph hrtc~~i ~~r : n~ l E~.: ~l .i~.~~ '~i,~: . I~. ;.,•.~~t n~ ~~.ut~ ~~.~timrns. .~h~n di:e. J~rectly to the pa}ec Ihrr~uf E3orr~~~~r,h.,11 ~r.~n~~~r~~ ~:ut~ l ~u~.~i .~ii ::.~I.,c, ~~.~ctl,~un1, „ui iindCr Iti;~ par.sKraph. and in.the event ~Off:~NCf 1fl.l~i makc pa~mcnt ~I!CC'!t }'1i`fir~-.~~f ,h:~T~ ~~~.+r!1^!~'. ~'~.:',nl.~! t~~ j ~'tit~Cf fC~CI(~(i i~IlICI1~lOb' SII~h~.pa~y~ments. Borrouer shall prompsly .li~.h.~~~t ar~~ tici~ ~.:~i.'~ b.i. ;~i ,~•rr ~'u. ~t~,rle~cr ~m~r~tcd th:~t Rntr,~a•er ~M~fl`nOt be rcqu~re~ t„ J,,~h.ir~,r .~~n .~i.ii Lr,~ , , k ; , . . ~ ' _ ~n "re~~n~ 1.~ th~ pa~ntcnl ul thi . htit,~ti.~~i srcUted by ~~i~h licn ~n a nt.n:n~r ac~rt':,+h~~.: I , . ,1.: . , . .1 . _h . ~Irtrn,l int,~r~:~~i~nr ,~t ,,i.h !icn in. let.el pm.er~ing. uh!.h •~~:r.~ti ! . . . . ' . ~ ~~f }f.r !'t~~pr~t~ ~'.i~i) (~erl th~te~~f. S. H8ldfd if1~Uf:lflCl•. F{,-~If~,.•.;~.: . . , ~ . ~ r. ~ , i , ':ti . . '~.Cfi.~l!~f ~.'~~.'C~{ ~~h 1~1C ~~I.+~~i'flY If1S:IfC(~ .~g~uut 1~~•, h~ tirr. h.,i,~r~i. En_lu~i:.+. .,,•t;... ~F . . . ' . r~.' .h ~,the; h.~rar~7. :i~ I rn~1Lr me~ reqiiire .~n~1 in ~u~h .~tr~~:r.it~ .~n~l !~~r ~u.t~ F,~.,i.>.i. .i~ I ,_ii.lr ..{.~;t.•. .:i1~.! th.~I I ~m!~: ~hill rn~[ rcyuire tht~[ thc am~,uncof Su~h ~+~crre:~ r~~i~i! Ih,it atn,~unt ~~t ~ ~ ~ ; ~ • .nr _.;~rri1 h~ ~h < ~1v;t~.t~,i T~hc in5ur:in.r .ernrr ;:r~~•.icii~~; h~ ~ . ~ ' . `~c . „ E~•, fS r;. ,~~h,~ .~p{~r~,:~l h} I cn.icr, pro~~ided. Ihat 5uch ~ppn~~~l ,h:ill n~,r h ~i~,.. ..i•'. _ u \ •r,. E,,,tt.~r, .hall hr pai~i in !he manntf pm~ideJ un~iir ~+.ira~n~E~h hrrr~~! , . . :n _ _ ii . rr.ai.::'S P.<<m:'nt. uhcn due. ~lirectly to [ht F ~ insur~nce carner. All imuran,~ ~•~,Ii~:~. .~nJ r~n~ .t,~:, ti c. _ ' . . . . _ , . ~ I : ,:t.t ~h ~1' n,l;i~1i ~lar~~i,,r.1 rn~~r~gage ~ clause in fa~~~r ~~t ,~n~1 ,r, f,.nti .~,~:~,!.,',!e , I ~:..I,: .I ~ ~ , ' . : i:r ' I,,~i~} 'h~• t .~li, ir. en.1 r~;ieµ~lti thereo~. t and B~~rn,ucr .he!! ~u,~;t~E~'I: t~~rni,h t,~ I ir.icr .~I; , . , . . ..~;~t. ,~t ~.ud ~rim~~~ni, In the ~cent o( lo~s. ~ H~~rn~,~cr ,h,~!I ~r.~ ~ . ,,^t n"i,.~ „ th~ .;i . _ , Il I ~~r.,, . r? 'us, ~t n~~t m.ide-prnmpd} e b)' $urr~~wer . ~ l~nless I er.~lr~ .~r:~.f B~~rr.,~.~: .~;h.r~,: _ , . r r~.~ .~•.,1. ,~~.~li h~ .~{,~~licd t.~ re~t~,r.iti~~n .,r rePair of thc Property ~L~t~i.~~~,{ (,r I~ ~ _~.h t ~ ~ , . ~~~J thc ,~~urin uf th;. ~1~,rt~age ~S ~ n~~I thei~M ~rn;~.i rr~i I~ ~ , ; ~ , , . . . ~ . _ . . r^e ~r.unt~ uf thi~. ~1~~ri~.ege would b~ ~mpa rrd !hr , .~.~n.r ~ , h: . . \1 •rt_ ~;~h th~ e~ce;s. if :~n~•. pa~d t~, B~~rr;~w~r I; th~ Pr•.~(,.~r~I~, ~ . 1i . . ~ f3 Arr . ~ .l~'~'~ I ~n~rr ~xithin 31) da~ti ~rum lhe J.i1~ n~~t.~c . _ _~1 t•~ I ~ntler ~ kii~ ..'r , . . . . . .i f;~r II1~Uf3fl:C h~n~fih. i CndCr ~ 1? dUlfll~f /l'l: If~:.l ~L'i; .~~14~~' '}iC ~ i ~ ~ . . . ~ , fi.~ ~.111i~ii ii~dlf Sf7t {~ill~Cn~. ur tu thr sut~i, ..:arc~l . ~t~n ~l,~rtti,ftii L tt;~•~ I : i~l .i~:il li ,t~ ~ t~ : .t~~, , . • . _ ~ . ~ ~ 1~ f~~ ; t~;t:i~~.~l `h.eli nt~I ~~tend ~ ` ~t ~ . , h.~n~,c thc :~n7~~ur.t Of ~ ,+r ~'v~(~i~~r:i ii~~ ~1 ~1.i?: i t th~ .~i : , . ' ' ~ _ ~ ,u:h :n~t.~; :i ~ !t ,.:~.ltr ~i~r. ~ , r . I _ ~ , _ , • I .h_ :~n,! ~.t~r~~f ~~I Hnrrower ~n .~n, : .,n: . - ~.r• r , , ~ ~r ~h~ 1'r ~E ~ri,~r t,, thr s~le Uf .t~yW>Illi~Il 4',.i~• ~.iil.~i: ifi. _ . . ~ . ' . . . :'C.1!,l(il`. ~ (:~.~f ~llCfl ~.l~C Of ~ acyuis~h,,n. tz 6. Presrn:~tiun ~ud ~laintcn.inic ~~f 1'n~pcrt~: 1 r_i.~lu,l~l.: (~~nil~~~nnnuni,: I'lanni•d l ni~ 11r~cl~~pmcnts. li„trowCr ~ F . • , ~h~ii ~,:C ~ t't~~_ I'r;+~rf:y lu b~+, ~l r:~' :~r .ui~!' t„~'~ , _ . . ~ . ~„cncc~! ur ~lc,<<i~~i.~l~~~n ih~ Pf~~~Cft} , ~ 1lll~ 5~7J~~ ~u[llf'~\ '.~tlil T~'.C O(l~~'ISI~~f1C ~.~t .it:; '.i.i~:' ~.I . _'\1 . , _ lt~~~ ~1~~~1`,1,: U(11I Ifl J :Un~1„min~~int , r pl.tnn~~l ~~r } ~ ~ fS . ' ' ~ ~ . . ' ;~te n, .1:t Ih~ Je.l.,f3lion I ~ ~ ! . ',i : ~ ;~~r hv•f~w, u,J rr~ ::.~ti~na of tht ~ ~l( ll1~iI1.IRI~ .(t' II~I~A i\~ ~ ~`.lfl - ' . ~~~n~.Iu:Tt~niuni 4~1.innLJ ,1rul t_ . ,i .i~ : ~,~_;:r~,, I! ~ ~tt~~uum c~r nL~nned ~iin[ J,~r(~+pmefl{ ~ ~t ~ • ~ , ~.rn.~r.t~ en~1 egr~im~nt~ c~f .uch rider ~ (:~}Cf C~C.i:E~~1 ht i;Jf~~~u~c ,~t~:l ;:.,,~.1C~1 ; \1~~rL:.~~c. ;h~• ~ i ~ ~hal: be ~i~~urp,,t~!c~1 ~nt~~ .~r~~l ,h,tli ~ni~n~1 .~;~,i `.i;~~~,.;,i~r,! t`,.: . :~,.u~t, .~;~,1 .r;•i~mrr:t~ ~~f if~„ ~1~ rt~.i~~ e~ if the r~der . ~ were a part hereof. ~ 7. Protection of I.ender'c ~ecurity. I! R:`rr~~•+er r.~ ;•~~',~'m the cn:•rn.~rns .~nJ agteemrnts c~ntained in this ~ i~origagr. ur ~f any a~t~nn ,,r pro~«dinc :c~n~rr~n;eJ .~h~.h m.~trriall} .~N«tc L~ii.ler's intere~t in the Propeny, including. hut n~}t liinit~d te~. ~mfnent d~~main ;n.nltcnt~. ;~~dc ~n±~~rrcmcnt ~~r .~rrangemrnl, or pr~xeedings involving a ~ hankrupt or de,~.fent, th~n I en.ler at I enJer ~n n,•n,r i~ fi,~rr,~~.rr. ~n.~> m:~ke wch appearances, di~burse such sums and t~ ~~~~~n ~ ~:ar~ t~~ pt~~ti,r 1~n~tcr .~nl~rc~t. ~n,(uJ;ng. hut n~~t I~nule~! to, disbursement Of reasonable s t~1~s~~i~7~?1Po" '•h~ ~'~`'p`~`~> r~P"n If t rndcr reyuirc~f m.~rtgage insurance u a eondition of making ~he loan securcd b~ ~h~, ~t,~r~g.~~~. B~~rr~~.•cr sh.~li ~a~ the premiums reywreJ to mairtain such insuranee in efTect until such Umc as ~tsc rcyuirrment for .u.h ~ntiuran;e t~rnunetes in accordance v~ith Borrower's and . ~ (IK ~j ~ a ~ ? • ~ ~IVV ~ . ~ , • ~ ' _ ~ _ _ ~'E.-.-.: ti':- ..~ssc, ~ Zr s.?(.~~. _.3....,:.5 a..-._~.-~""` Z'TS'r.~:'ct~.~~