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HomeMy WebLinkAbout0930 h ineprction. 1~~~d~•r rna~ me+k~• ~~r cauxr tu 1N• madr rraRUnxhle rntnrx u~~n find ~nK{N~~hunM ~~(th.• pru{~rrt>•. pr~~~•id~d lh,~t 1 rndrr Mh,~lt ~;i.•r liurt~~w~~r nut~re pnur G~ nny Nurh in+~~r:-t~~~n ~+~~e.•~t>•~ng rraaun~?hir ~viuer thrrefor rel,~trd tu 1,~•n~irr'e int~•n•Mt in thr I~~~prrty 5~ ('und~•mnNtiun. Thr pr«~eedA ut :~n>• t~w~ard ~~r claim fur damugee. d?rre•t ur cun~ev~urnual. ~n ~ unn~~ U~m a~th i~ny ~v~ndrmnnU~~n ~~r .~thrr takinK ~~f the pn~prrty. ~~r pert thrrev~f. ~~r for ~~„n~r~wncr ~n hPU of n~ndemnaU~~n. ~irr h~•rrh~• ~~MHiKn~~cf ~~nd Nh,ell M• p,+~d a~ I~~ndt•r I n th~• r~~~•nt ~~f a tut~il takinK uf the I'r~>prrty, thr pnK'rv~dN ehall tx• xpplic•d tu thr aum~+ ~~ti'u~wt hy th~N MurtKuKP. N•,ch th~• ~•x~ rYN, af <im , 4~HIl~ ~/I ~~Uf~~~N'P~. ~(1 thr rvent uf a~HI"~IN~ ~:i~(IR~( ~f1N F'n~perty, unirxe t;UR~~N'PI 7flll~ ~.P111~Pf ~~thrrn•iKr aKrtv~ ~n N•nhnK, th~•f1• Mfi:l~~ fM• +4~p1itY1 tu (F1P NUFAM !ifY'Uh~ II~' CFIIR :1lorlgt~Kf• xurh pr~~~«,rU~~n ~~f thr pr~K:~ti~1e ~?K ia ~~lual U~ that pr~~p~~rti~~n wh~rh th~~ amuunt uf th~• .um. .~-~~urrd b~~ th~. ~i~~rtKa~KF ~mmedifuely pnor tu the~ dutr nf t~ik~nK lK•t?rH tn thr ftur inurk~•t ~ r~lur ~~1 tht• f'rn4x•rt~ im~n~•d~:~te•ly pnur t~~ thr d.~tr ~~f !:ik~nK, ~+'~th ihr h:~lencr ~~f the pnK~re:le p++id tu Rorn~w•er. If thr 1'ruFxri>• ie abr~nduned by li~~rruw-rr, or if, tifter notice by (.endrr tu liurruwer that thc• ~•un:i~•mn~~r ~~ffrre t~~ makr:~n <iward ur srttle•:i ~ l;+im for dam.~yt~~s, F3orrower fa~fa to rea~nd tu Ixnder w~thin :il~ d.i}•~ uftrr thr dxte Yuch n~~ti~•c• Lr m.iilt~l, l~•nde•r i~ ~~uthunze~! u~ c~~lir.•t anrl .ipply thr pnx•trds, at l,ender's optiun, either tu rrstnrHtiun or r~•p:+ir uf th~~ pruW~rty ~~r t~~ thr au~ne rcc~~urcd hy th~:+ ~1o~tKaKr. l'nle:+s I A•ndc•r and li~~rruwer uthrrwirre~ aKrE~ in writinK, any Kuch up{~l~cuuun uf pnN ~•~•d~ t~~ pru~c~pal xh.~l! n~~t ~•xtrnd u~ ~H~~tyun~• thr dur i,rt~• uf the munthl~• in~tullme~tK n•ferrcd G~ in pnrfi~;r.i~)~1F 1:~nd 'l, here.~f or chunK~• thr .~muunt uf xuc•h invtnllmt•ntA. I~~. Norru~+•rr tiot NelrHSrc1. Extcnxi~~n ~~f thi• umc~ fur p:iyrn ~nt ~~r mud~ficuUun ~~f :imurtirat~un uf th~• yum~ s~•cun~1 h~• thi. \tnrtka~;~• ~r,intt~d hy IA~ndt-r tu uny succe~s~v in int~~m~t ~~f Iturrnw•er .hali n~~t u{h~r.itr tu rrlr;~.r, in ;~n~• mannf•r, thE• Ii:ibiGty uf thr ~~nK~nnl fiurr~~~t•r in~l Iiurn~K•t•r'x succt•x~~~rx in ~ntt•r~•st I.~•ndrr .h:~ll n~~t ta• r~r~uirt~l h~ ~ti~mmrnc~• pn;r,•t,i~n~;s .i~.un.t .w•h ::u~•~•r~.~:r ~~r rrfu,r t~~ ~•xi~•nd t~m~• r E~:~~~n~•nt ~~r~~th~•rw~.~• mudif~ .un~~rti~:+tiun ~~f iht• ;u~ns :rcunri hy~ thi. ~1urt~;cl~;~~ i~~ n•;~.~~n ,~f :in~• d~•in:~nd m:~~1~~ h~ thr~~n~;in:~l i{~irn~:v~•r ;n~I li~~rr~,w~~•r~, ~u~c~~..~~rs in int~v~•~t 11. Forbear??nce by l.ender ,tiot a K'aiver. Any furtx~~?r<ince hy I.enci~r in i•x~•rc~,~~zK .~n~• nKht ur remctil}~ hert~undrr. uruth~~r~i~~• ,ffurded h}• t~pplict~ble la~+•, shall nut F~ t+ wai~•t•r of ~~r prc~ lude thr rxercisf~ ~~f ~?ny~ vu~•h ri~;ht or remc~ci~•. T'he prcx•uremf~nt uf in~urancr ~~r thc• G.,icment of taxes ur other liens ur chnrKrs hy I.ender yhall not be a K•ait'er ~~f I.endrr's riKht to accrlPratr thr m.+turity of thc• ir.d~•htecinc•~ss ~~t•ured b~' this ~1ort~:iKe. ` l'~. Kemedire Cumulativr. All rt~mrdirs pr~:~•ided in thia !11urt~;aKr are diKtin~t ur.d cums~lati~•e to ~ny uthe•r nKht nr rrm~Yly uni:rr [hie \1~~rt~~aKe ~~r affurdE~ by I~~w• ur ec~uit}•, and ~nay tx~ exerciHe~ cuncurrently, inde{x~ndentlt~ ~~r succeavi~~rly~. - l:t. tiucceyxory and Aysigne Nound; Joint and Se~•c•ral l.iability: (~aptions. "1'he cuvrnunts .~nd aKrc~c~mt•nt.~ ht•n•in ~~~~nt.nine•d sh~~ll !~;nd. :~nd the rikhtti hrreur.der shall inurr to, the re~;{~c•ti~•<• vucce~s~~rs and assiKn~ uf I.~•nd~•r :ind f3~~rruwc•r, ~ut~~tY•t t~~ tht~ pr~~~~~~i~~nK i~f p.+r:t~r<+ph 1 ~ herr~~f. :111 c~n•enants and uKret•me~nt. ~~C f~~rrow•e~r sh:ill he joint .?nd K.•ct•ral. The ~•aptinnti a~nd h~•.+ri~n~;. ~~f thr ~.ua~r~ph. ~~f t';;s 11urt~utir .iri• for cucen~rni~r unlt~ .+nd art• nut tu be usc~ t~~ interprrt ur define tht• pru~•i~iun~ hert~~~f. I-~. tiOUI'P. F'.Xl'ept f~~r am~ nuz~ce r~•yu~n•ci undt•r appliratrl~~ law~ t~~ th• ~;i~~t•n in :uu~th~.•r m.~nnrr. an~• n~Rir~• b~ k~,rrv~~~•~•r pr~:~~i~i~ ~1 fi.r n ; h~: 11~~rt~;.i~;r.ha11 beEti~~rn b}• mailinK such nnt~ce by cert~fiecl mail addressed tu Knrr~~wPr at the Pro~•rt>• Addrr~s ur ac su<~h ~~thc•r add~rsw as fiurr~~wer ma~• drsiKnate by notice tu l.endrr as prc~~•idcd herein, and Ibl any n~~ticc• t~ I.rnde: ahal! be Kiven bti• cc~rtific~cl mail, return rc~c•e~pt r~.aut~~t~•d, ti~ l.c•nder'~ ~+d~~ress tit<~tec1 hNrrin c~r tu +ui•h nther addretic as f A•ndFr mx}~ dr~iK~~:1tE' hy n~~tie~e~ tn R~~: r~rw•t•* ai. pr~n ~df-d hrnan. An~~ r:~ ~t~~~c• prm idt~ci for in this ~1urtKaKe shall tx~ da~~mtKl tu ha~•e• t~rn Kicen tu li~,rn~w~••r nr l ~•nclt•r whF•n ~;i~•t•n m th~• manne~r di•~i~;n.+t~~ ht•r~•in. 1:~. t'niform ~(urtKaKe; GoverninR Law; ~everehilitv. Th~s form of murty;a~;rc~~mh~nrs unifurm c•~~ci•nant~ fnr nati~ma! u~rund nun- :niti~rm ~~~~~'en.~nts «•ith limiteKi ~•ariutiuns b}~ juritidi~•tinn tu ~ti~nstitutt• unifurm st•c ant~~ instrumE°nt c•~.~•t•rin~; rra~l prupert~~.'I'his ~1nrtK~iKF -n;~li hc• ~;u~~~•rn~d h~~ th~~ law• uf thr jun~dictiun in w~hic•h th~• Pru~; rt~~ ~s I~N•.jtf~i In thr ~ ct•nt tha~ :tn~~ pn~~~i~iun <<r ~•lausr nf thix \1nrt~;uKo ur ~ i;«• \~~t~• ~~un(l~cts «~ith applicablc• law•. ,uch c•~~nll;ee shall n~~t :~fftrt utn~~r pru~~itiiun~ ~~1 thi, 11~~rt~;.i~;r ur thE• \utt• w hirh ran trt• ~;i~en e•ffc-c~t ith~~ut the• ~•nnflichnK provisi~~n. .~nd U~ this end tht• pru~-isiuns uf the \turtK.~Ke und tht• \uti~ a~rt• df~•{are~i t~~ 6~• :f•~~•r.~hlr 1~~. F3orro ~•er's ('opy. F~~rn~K•er shall be fnrnish~d n cunfnr.ncd c-np}• nf the \~,t~~ :~r~ ~~f thiv A1~~rt~;aKe at th~• Ume a~f executiun ~~r aftrr r,•~ „rd.~uun here~~f. ' l.-. Transfer of the Property; Ascumption. If all ur an}~ part ~~f the 1'rnp~•rt~• ur .+n ~ntt~rr•tit thrrein is ~old ur transfc•rrrd hy li~~rn~w~F•r , ith~~ut I.c>nder'~ priur K•ritten cunsent, Fxcluding ~aJ the ~rrati~m ~~f a lien ~~r ~~ncumhr:in~~~• ~uh~~rdinat<~ tu th~s ~1urt~;.~Ke', ~~~1 If1P ('ft'.SLi~~71 of .t ~ :~urchc~~F mnney~ sE•curit~ interest for h~~usehold appliancrs, ici iran~fc~- by cievise, d:scE~nt ur h}• ~~{wratiun ~~f law upon thr dt•ath nf .i juint n,int nr ~dt the Krant of any leasehold interest nf threc• yeara ur Ic•ss n~rt cun~ininK an ~~ptiun tn pur; h.?,e, l.end~~r ma_:. at l.endrr's ~~pti~~n. ~ ; I;~r~• all the,ums srcurea b~~ this ~1ortKaKr t~~ be immed~atrl}• dua• .~nd pa~~ablF. (,c•nder ~hall ha~~F~ w~~i~•cd such ~~pti~m tu.~cct•lerate if, pnnr ~ rhe..iic~ ur transfer. I~•nder .+nd the per~un tu w•h~im thE• f'n~pert~~ tr, tx• s~~ld or tranafc•rr~~c1 re•a~~h aKrc•~•mt•nt in w~ritinK th:+t thE• ~~rt~rlit uf,u<~h r,~~r. i~ ~;~ti~:factnn• tn Lt~nd~•r un~i that ~h~• intt•re•~t {~~+~:i},1e• ~~n th~• sum~ :t~~vn~ei b~ thi< \lnrtk:i~;E~ sh:ill }H• :~t ,uch ratr .t~ l,f•ndt~r ~h.~ll -~-~ur;t If Lrndt~r h.~s w.ii~rd th~~ ~~pti~~n t~~ ~u~i•elt•rat~~ prn~~idt•~~ ~n thi; pur.~~;raph 1~. :~n~i ~f Finrr~~wE•r's •u~ rc•s.~~r in intrrrst h:~~ rx~•cvt~vi ~~~ttt•n .i:,umpti~~n a~;ret•mt•nt a~•repti•d ~n t~ ntin~; F~} I.e•n~1~~r, Le•nde•r shall rc•le:ihe 1{~~rrou'rr frum all uhli~;ati~~n: unde•r th~~ ~1nrt~;aKf-and tht• ~ ~ ,<<•. 's If I.t~n~irr e•x~•n•~.es ~u~ h npur~n t~~ ci~ ~~~•it•ratr. I.e•ndr•r ~h:,Il m.iil fi~~rruw•er n~~tict• uf arce:F~r;~U~m in :~cc~~rdan~ w~ith p:u.iKr.~ph 1 a hrrEVf F 3 ~:.~hnnt~~•e•~h:~llpn~cidr:~pcri~Ki~~fnutlrs~th:~n :~~d;n.fr~~mthr~l.~tt•thrn~~tii~eisrr.:iilrrj«ithinu~hi~-hfi~~rr~,w~•rm.~~~pu~th~•~um:decl:~rr~~ ~ i:~• If Fi~~rr~~u~•r fail~ t~~ p~+~~ ~u~ h:um;: on~~r c~~ th~~ e•xp~r:~t~~m ~~t su~~h pt•nu~l, i.e•n~l~•r m:~~~. ti~ithnut furfh~~r n~~U~ t~ ~~r demanr! ~~n ti~~rr~n~t~r. _ ,s:~~~ke~;n~ mm~•.tif•~ p«~rmitt~Yi h~~ ~~.~r:+k~r:+nli l~ h~~r~~~~f. € I23. Aecett•ration; Remedies. F.xcept x5 provided in pareRraph 1? hereof, u;~~~n Korrow•t~r'.r• hrrach uf nm• co~~ennnt ~?r ~ ~ .+~;rec~mt~nt uf Rurrow•t•r in thi~ 11c~rtKaKe, includinK the cY?~•t~nantti t~r pap w•hen dui• any r~umti r+i~~•un•d b~• this ~1~~rtRaKe, Lt~nd~>r ~ ~;ri~?r to accelerxtion shall mt~il nutice to Rorruw•er aK provided in pHrt?Kraph 14 herc~f epecif~~inK:1 l1 the breach; ~'ll the action ~ rc~~iuired to cure tiuch breach; (31 a date, not lexe thHn 30 day~ from the date the ~otice iy mailed to Rorrow~er, by .shich yuch ~ hrc~ach must be cured; and 14? that failure to cure~ tiuch breach on ur before the date vpecified in the notice ma>• re~ult in :+~•~~rleratiun uf the vumy tiecvrrd by thix titortQaKe, foreclu~ure b~• judiciel proceedinq tind yaleof the Propert~~. The noticf• shall Curther inform F3orrow~er of the ri~ht to reinstatt• after accelc~ration Hnd the right to assert in tht~ foreclr~surt• pr~x•c•~~c1inK tht> r.r~n-existence of a default or t~ny other defenKe ~?f Rorro~ver to accelert?tion and forecloHUre. If the bre~HCh iy not currd un or q t~~•f~~r~• the datt• ~pc~c•ified in thr n~~tice, l.c•nder at Lender's option may declare all of the yumK s~~c•ured b~• thiy 11~irtKaK~~ tu Fx~ ;rnmediatel~' ciu~~ ~~nd pt+~-ablc• ~+•ithuut furthc•r dt~mf+nd xnd mti~~ fur~~i•lu~;~• thiy:V(ortQdqe by judiciul pr~~c~•c~d~nk. Le~ndt•r sht?ll hi~ ~~~iitled tocollE•ct in such pr~?credinK xll e~xpense!~ of forecluvurc~, includinR, but not limited tu, cE•aKUnabl~• att~~rne•c's fe~~~4, and i • ~ ~~~.t~ of documt~ntary c~vid~~nct•, abatrs~cts and titlt~ rE~p~?rt~. ~ 1~1. F3orr~?~a•er's Ri~ht to Rei nKtate. :~~>tu-ithst~inc~~nK 1.~•ndE~r'~ :i~~c•c•leratir,n nf thc~ Sum~ se~~urt•d hy thi~ ~1~~rtK~iKr, fi~ ~rr~ ~a t•r ~}„tll h;~~ ~ - ±i~~• nKht tn ha~~e any prv~ceF~dinKs tx•Kun hy I.ender t~~ enfurct~ thi5 ~lurtk:sK~ discontinutd ~t any- time ~n~~r tn entry ~~f a jv~1Km~•rt ~•nf~~rcinK " ~i~is ~1urtKa~;F if: ~a~ Fir~rrr~w~r p.~~~s I.rnder all sum~ w~hich w~nuld bt~ then due under this tilurt{~aKe, the ~ote and nnt~~~ ~c~~~unnK Future• 1~1~ ancew, if an~•. had n~ acceleratinn ~;ecurrE~cl; ~ h! Rurr~~H~E•r ~~ure~ all hrc•a~•heK r~f an}• ~~tner co~~en.intv <ir vKrPement~ ~~f lir~rr~ ~w rr m tai n~~l i~ ri;i. ~turt~;,+kc: ic~ Fi~~rr~~wE>r p~t~~s all rt~a:;onahlr rxE~~nst•~ ~ncurrrYl h~• I.end~r in enf~~rcinK the rc~~•enants .~r.~a .ikn•t•m~~nt~ ~~f fi~,rr„µE•r = ~~ntain«•d in this MurtK..Ke and in enforcinK I,ender's remrdies a4 prn~~idc•d in paraKraph 1 x hercv~f. ~nclndinK. hu! n~~t lirnit~d t~~, re~asnnahlf~ L,: ~tt~~rne•v'Sfre~c:.~nd~~1~F3~~rrr,µ•ertakeh~ucha~ti~~nasl.~•ndPrma~•rr~s+k~~nahh•requirPtnacsurethutthc•l~f•na~fthis:ll~~rt~;~+K~.l~•ne:e•r'~interE~et - :r~ thF F'r~,~rt}~ ~+nd Ii~~rrnwer's ~~hliKatinn tu pa}• the Sumti Srcured h~~ this ltortK.~K~ sh:ill cuntin~e unimp:i~red. l~pun tiuch p.+~•m~~nt.ind cure• ~ Ik,rr~wer, this 11r~rt~a;~e and the ~~hliKatiuns securec3 hereb~• shall rPm~iin in full f~~rce and effect as if n~~ ac~•c•ierat~~~n h~id ~x~currE~c1. Asei~nment of Kents; Appointment of Receiver. As adrlitwn~l securit~• hereunder, Rorrow~er herehy agsiKn4 U~ t,ender the r~•nt~ ,f the Property, pnn•idt~d that K~~rrnw•er shall, prior tn ru~•elrrati~rn under pariKraph 1 K here~~f or ~ib.+ndnnmrnt of thr F'rupert~•, h:~~•e• the nKht : r,~ ~~r~liect and re•t~iin ~uch rrnU+ s~~ they F~c~c•~~me due and payahle. ["~~n acceleration und~•r para~r:~ph i x hE•rFKif nr .ih:~ndnnment ~~f thc• Prn~Wrty. I.e•nder ~h:ill }x~ e•ntitl~~.j tn h:i~~e :i rre~c•iver tipp~~inteK3 h~• a o.; - •~~urt tn c•nter up~m, take rx~ssc•,~iun ~f and manaKe thN Yrop~rt~• and tn cr~;lcrt thf• r~•nGv uf thF I'rr~pYrt~•, includinK thntie• past due- All r~ntc ~+~11eY~tc~ irv thP rr~~~~~•~r .hall he appliPd first to pr~~: mf~nt ~f thF~ cY~wtc ~rf m,+naKemc~nt r~f th~ Yrnp~rt~• and c~~llerti~~n nf rentP. in~~ludinK. but n"t imit~d tn, rNC•ei~•f~r'K fFC•~, prt~m~ums ~~n n~~•Ni~~er~g honds and rt~.+~;~~n~hle :itt~~rn~~•'h f~e~v. .+r.d th~•n tn thc~ yums :;P~~urrd hy thi~ 41~~rt~c:iKc~.'!'hc• ~ r•~~~e•r shall lM Lahlc~ t~~ .~ccnunt ~mt~~ fnr thnvF~ renl~ n~~tuc~ll~• rcrri~~t~ B!'.~lK ~'~Uf ~h~V ~ - - , _ .