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HomeMy WebLinkAbout0920 t rn~lrr'. ~~rit~rn agrr~tncnt ~,r :i~,F~L~:ihle la~~ ft:,rru•..~r ~h:ill ~~ay thr am,,unt .~f .ill mottb:?br in~ur.u~~c pr~nuum, in th~ mannrr ~ru~~idc~t un~1~r ~,xragr.~ph ? hrreuf - Am• ami~unts ~ii~hursrd h~' I.rn~lrr pur.u.~ni t~~ thi. ~ara~;r.~ph 7. ~~~tli uitrr<<t ther~un, th;ill hr~~mie ad~liti~,n:~l in~f~M~•~nr,ti ~~f Borr.,~~~r sc,~.irrd h}~ thi. ':11un~.it~. l'nlr.. B~~rru~.cr an~i 1 unJer :~gr« to Mh~r trrm~ ~~f pa~mrnt. ~urh ami~unth ch~ll hc payahlr upon n~,ti~~ fn,m I rndri t~, B~,rr~,~~rr rryuc,tin~; ~~a~•mcnt thcrr,,f. and tihall hr:+r in!rrcei fr~m thr date of ~ii~burscment at the ratc p;i}~c?hle fram time t~~ time ~~n outslandin~¢ principal under the Note unleec payment of interest at such rate ~~~oul~l he cof~trar}• ti~ ~ppli~able I:?~~. in ~~hi~h c~•ent such amoients shall hear interest at the highe:t r~te permissiM~ under applicable la~r. Nothing contained in thit p:u:?gra~h 7 shall rcquire I_en~ler to incur ant~ erpenee er take :~ny action hcrcunder. 8. Inspection. Leniler ma}• mal,e or r:iu~e tn he ma.ir r~a~onahle ~ntrie~ up.•n :ind inspcctii~nc of the Pro, ert}•, pmvi~lrJ th:it I.ender ~hall gi~~e Borrower ni~tire pri~~r to am~ such inspectiun specif~ing reasunable .auce therefor relatrd to I.ender's intercct in thc Propert}'. 9. Conden~nalian. The pr~~rec~1~ ;u~~• a~+,ird ur claim fc~r ~I:imae~s. dire~t or c~~n~equential, in connection ~~•ith an:• .ondemnation ~~r ather taking af thc PruExrt~~, .~r ~~art lherr~~f. ~~r for r~~mc~ance in lieu of condcmnation, ar~ hereht• a~signed an~l ;hall hc paid t~ i.cndcr. in lhc event of tc~t3i takink of th~ Pr<~prrn. thr ~r.~~ec~is tih~ll he :ipE~li~d tt~ !hC Sumt securcd b}' thi~ ~ic~rtgaFc. ~~ith the e~cees, if an}•, p:~id to Borr~~«~er. in thc cv~nt ~~f a p:~rliat takin~~ ~~f thc Property, unlese Borm~+•er and I.ender e~ther~~i.~ agrec in w•rit~ng. lhcre shall tk ap~[ird t~, thr ~umti ~~~~ire~l h~• thi. 1~1c~rtg~gc tiuch pmpor!ion c,( thc prcxceds :is is eyu,il to that pmrortion ~?hich the ;imcnmt ~~f the surm .r;~~red h~ thit 11~~rtc~:ice immediatel~~ rri~,r t.~ the date of t:iking txars to the fair market ~•alue of the Pruprrt~~ immrdi;~t~l~~ ~ri~~r to the ~I.~te ~f takin~. ~~ith the halance of the pr~~cee.ls paid t~~ Borrower. If the Praperty is ahand~ned h~~ R~~rrrn~rr. rr if. :tftcr n~tice h~~ Lender t~~ Borr~~~~•er that the condemnor ofiers to make ;~n ;~~+;~rd or .ettlr a claim f~r ~:~m:~ec,, B~~rm:~~er f:iil, t~~ rr~~~nd to I enclrr w ithin 3(? day~ after the d:itc tuch noti~e is m:iiled, Lcnder iti authoriz~d tn c~llect and ;~p~h~ thr proc~edti. at i.ender'c opti~n, either to restoration ~~r repair of the Pro~k n~~ or t<~ thc sum~ ,ccured hy thi~ \ic~rt~agc. . Unles~ Lend~r and Borru~~er other~ci~~ agree in ~tiritii~~. an~~ w~h a~+plic;?tic•n ~f prckeedc t~ principal shall not e~tend vr poctp~ne thc due ~latc uf the m~~nthlt installmrnl, rci~rr~d to in raragra~h. I and hercof or change the am~unt of su~'h installments. 10. BorroH•er Not Released. F~tcnti~~n ~f thr tim~ f~~r ra~•mcnt or modificati~.n of am~~rtization ~,f thc ~um~ sccurcd h~~ thi, Il1~~rt~~age granted b~~ l.en~ler t~~ ant~ cuc~ec~rr in intere,i ~~f Borro~~er .hall not ~~nerate to release. in am• manner. thc liabilit~• o( the origi~~al Borrm~cr and R~~rm~~er', su~rc,.~.r~ in interest. Lender ehall not hc: reyuire~l tr commenre pn~cee~ling. ?gainet tuch suc~essi~r ~.r refuse t~~ e~trnJ timc for pa~~ment o~ othen~isr moa~.`v amortiiati~,n ~~f the sums scrured h~ thi. Mi~rtgag~ ht~ rca~em uf an}~ dem:utd made h~ the ~~rieinal Born~~+er .ind B~rro«;~s sucres«~rt in interest. 11. Forbe~rance by T.ender \ot a~i'aiver. An~ f~~rhar.in~r h~ f.rnder in e~erri~in~ am• right ar remed~• hereunder. or ~~thirH•:tie aRorded h~• applicahle law•. Sh;~EI n~~t h~ «•:~i~er ~~1 ~~r preclude the e~ercise of ~m• ~uch rieht ~r remed~~. Th~ proeurement of insurancc or the pa~'ment uf [:i~r. ~~r uther lienti ~~r char~c~ h}• [.rnder ~i~;~ll n~t h~ ~+ai~•er c~f Lender's rieht t~~ acrel~r.itc the maturit~~ ~~f the indchtedn~,~ .r~_t~reil h~ thi~ ~i~~nca,c. 12. Remedieti Cumulati~•e. All reme~lie~ ~m~i~icd in thi, \1~~rtg.+zr are .ii.tinrt :ind rumulati~~e m:~n~~ ~~ther ri~ht ~r reme~l~~ un~3er thi, ~t~rt~a!,r or aff~•rd«I h~• la~~ ~,r ryuit}. .~rni ma~ he ~~erci.~~l ~~,ncurmntl~. i~dependentl} c.r s~ic~e>ti~•eh. 13. S~ccestiors and :~tsiRnc Bound; luiM and Se~cra) i.iabilih; Caption~. T~hr c~~~~nants and agrcemint: herein ;or~taine~l ;hail hind, and thr rieht~ her~under ~hall inu~e n~. the r«E~c~ti~e wcc~+~rr~ and a~aigne i,f I.ender and R~rr~~~er. .~ihject the pm~i,;nm e,j ~ara~~raph 17 her~~~f ~~II ~~nrn:int. an:i ;i~_rc~n:ent. ~~f Borr.~~.~~er shall he j~~int :+nd ~e~'cral. "i'he ~a~tiun. ;uu! I1C1l~llli~ ~~f the p,ir,itir:~~h~ rf ;hiti \t~~rt!,.<<sr arr frr ~~~n~~enicnce ~~nlc an~l arc n~~t t~~ he used to int~r~rrt ~~r define the ~ru~i~i~~m here~}. 1~. \otice. E~~e~l frr ant' noti~e r~yiiir~ii un;t~~r .s~~{~li:.~h!r I:i~~ t~~ ht ~i~•en in an~,ther manner. lal :inc notir~ !ii ~ R~,rn,~ti~r ~r~~~ielyd f~~; in thi. ~tc~rt~a~,e ,hall h~ ~i~rn h~ :n:~ilin~ ~u;h ~i~,ti:~_ h~ :~rtified mail :iddr<<;rd t~~ A~~rn,~~er at ~I thc Prr~,ert}~ A~1dre,. ~~r at .iirh .,ther :~~idrr.~ B~~rr.~~~~r m:~~ dc.i;n;~t~~ h~. ~~~,ti~~ t~~ i cnelcr a~ ~rr~~•i~ic~l herci~. :~n.l ' • !h) ,in•. n~,ti~c t~~ I entier ~h:~ll he zi~~n h~ r~rtifi~,l m.~il. rcti~n~ r«r,F~t reyu~.tLd. t~~ I en~fer'c adelr~~s stat~d hcrein ~,r to ' ~ i .u~h r,ther ad~lre~, .n I rnd~i m:~~ de,igr..~tr h~ n~~ti,e t~~ t3~~rn~~~~~r a; ~r.~~i~le.l herein. :~m~ nuti~c ~m~~id~~l f~,r in this I ~I~~fl,:i_L'~ ,h;~ll h~ ~ieemrd tr nacn c~cn ti~~~n t~~ t3~~rr,~~.~rr ~,r I ~n~1er ~~nen ci~en in the manner decignated hercin. f I5. ~-niform ~tort}~a~e: C~~~ernin~, I a~~: Se~erahilit~. I t;:. t,,rm ~~f m~rtz:~~e cc•mhine~ un~F~rm rm•rn:intti f~,r n;iti~n.sl ~ u~~ an~l n~,n-unif~•rm ~~~~rn.~nh ~.~ith limitr,i ~..iri:~ti~~n• h~. ~~,;,.~i:~tirn tr ~~~:i~tit!itv a uri'orni sc.;irit~• i~i~trument r~,~erine g r~:~l ~r~~E,ert~. Thi, \l~irt~",~~ ,hall hr ,~nrrnr~l th~ 1..~~.~ ,•f th~ iuri,~li_;i~~n in ~~hi~h the Pmpert~ i~ 1~~~:it~d. (n the r c~•~nt th;~! :t~i~' ~f~~viii~~I~ ~~f ~j;tU~C ~~f t}7t. \Ti~fl_:_i t}:i ~~~ni~i:l~ ~.~~Ih ,~~~ii:,if?~c• ~,tt~, ~tl~h ~c~ntli~t .h:~ll nc~t :1~CCI ~ ~'Ifll'f flf~~\I~Il~fl~ 1`~ Ifllt ~~(~((_`:1L't IfIC ~l~iC '.~tl~~~.'1 f'; L'I`.l'fl C~jl'~~( '.tltf:~~I!~ !f1C l~'!~~~~I:tl(1_ (1f(~~'I~I~~II. :111(j jl~ tf11S t rr,1 !hc ,~n~~ i,i~~nti ~~f thr \t~~rt, a,~ .~nci th~ \~.tr :~rr ~'r: l.:rr.i h~ .<<e.•:th!; ~ 16. Borrowe~s Cup}. Borm•.~~r .h:ill he f+~~n;,i~~.? ;~•:~i:~rm,t1 ~r~ ~ ~~t t~i~ \.~tr ,~n,i ~~f thi, \1~~rt,,;~g~ :~1 the Iime ~ ,~r ~~«uttt~,~ ~~r .~fl~r r,:~,r~3ati~,n h~re~~t. i ~ 17. Transfer of Ihe Propert~: :i~.umplii~n. If ,~I! ;~r t'.,rt ,~f rr~; Pr~~~:;t~ ;~:~n inter;~t ti~er~in i. ,~~ld ~~r tran~ferr~ci h•. Borru«~•r "~th~~ut t.rnder~ ~n„r ~~ritt~n ..~r;.L~~!. r~~lu.lin~ th~ ;r~,~t~,~r~ ;~t li_~n rr rn;!~mhran~~ .uh~~r,Jin:~t~ t:~ tni~ ~f~~rtc;~cr. ihi thr ~r~ah~,n <~f ~ttr~h.t,~ m,~re~ ~~:urit~ :nt•_r~.t f,,. ^,,:.r;eh,~!ci :i~~li.:n.~:. i~~ .s tr:in.!rr ht• d«is~. ~1~.~~nt ~~r h~ t~~rr.itiun ~~f I:~~~. t:~~~n the tle:rtf' ~f i, u~l trn:~n! ~~r ~.i, ~hr ~r_,~,t ::n: ...,.cii~,ld ~n!rre,r ~,f thrrr ~r:ir: „r lec. ,1~~I ~~~Ufl[:tllti(1', :1t1 c~~2i:~f1 :t~ ~'t:f~fl:tiC. ~ Cf7~~tr t',7.~`.~. .i' ~ ittijtl-~~ ~~P!Ic`~:-~.. ~~C.i:i;~ :t~~ ?hC ~URI~ ~C~:+~~'~j h': IhiS ~1~~ftC:1Ct it~ hl :~nm;~li:~t~l~ dt;c .~nd E~::~:ihle. ( ~nder .}~,tl', h::•.: ~+,::•.~i1 .:~:h .~~+!,~~n h, ..i"_~lcr.it~ if. ~~rirr t~, thc .,il~ ~~r transfrr. f.en~er ~ ;~n~? th~ ~l,(~~~tl (i~ ~.lfl~~fll fll: ~R~r~t(l' I~ f'~' .~f !'.t~'~f~ffil~ ?~~:t:fl .:=~i'illl,~lf !~l '.:rii;ilC ('l,ti I~7C ~~i~~i( ~l{ ~U:h E~~r.rn . ,.,ti~(:i~t:~r. t~~ l.en.irr ::riei th.:, ,~;r tn!_~r_•.: :~.r ,~n thc .~:m. .r~iirr~l thi, \ir~~t~,.~~e ~h,,~l he at t~i~h rate I.ChCjCf ~ ~h;~i'• reyu~~( If 1 cn~lcr h.iti ~~,ir::~l ifle ~~j~>i~~„ t,~ :~.,~lir.,'~ ~~r<~~i,1~~ i:~ !h:• ~.~r,~~,•:~~h l~. ;:n,i i! B~~rrrti~rr'. ~ui.:r~tic~r in ~ rttrr.t ha~ ~~e~~~t~d a.~nttci~ :~S,um~ tirn .i_~~~rm~nt :s.:~;~s~d in ~~rr:n_ h~ 1~n~i~r. I tn.ier .h;~ll rele:~.r R~~r*.~~.~cr fre~m ~II ~ ~,hl~~~at~~~nti unilrr thiti'.11rr?~.~~e and the \:,te. ~ If I et,cler C~er~t.~•~ .u.h ~~I~?i~~n ir :t..e':r.,I~. ( ::tt'.r . ..i! tn:~~' B~ r•~u:~, n~~tf~r ~~t .~;~rirr:3i~t~n in :~:~n;~?anr< <tith _ ~.~r.,~,r,iE~~; I-; iie;r~~f. Su~h rrnc~ .h:~!I ~~n,~:~a~ ~~rr ,,r n.~' 1.~. t.~,~n ;}I ~ia~. ;r~~m 'he c1.~t~ tf?r n~~ti:~ i. :nt~iled «ithin ~ tihi~n R~,rn~~~cr nt~} !iie ~t!n~~ L~~_,~ ~.~u I' R. , . , , r; ~ t3e~ ~ ~r: ~ .~r tr• . rn. , ~r t;~ tiir ir.~ ~r. ~ ,h ~n~_~3. ~ Cili~Cr Rl;i\ '.~Iifl~'UI illi~~'~f !7U1!~C ~~i ill'tlld'7C~ }i~~,i~~~.i .~.~~1., t~'~ n ~ I l . i'. . fi.".it'lj{l~ [1i '~1'1?C ~ . ~ .t~.i~ :1( fl 'i 1Cft~l1. \~»-l~~iF~~k~t C~~`.t~t~z~ B~,rrnµer .m~1 l~n~1cr furthc•r r~~~.~r;.~ni .in~_l ~~r.c fc-ii.;~{. 18. Acceleralion: Remrdies. Except a5 prmidcd in para~;raph 17 hereuf, upon Borro~~ers breach of an} co~enant or a~reement of Borrower in ihic ~tortKa~e, includin~; the cmenantc to pa~ ~~hen dae any sums secured b~ this ~tortQafie, i.ender ' prior fo accelerafion shall mail nntice to Borrower as pnr~ided in para~raph l~l herrof specif~in~: (1) the breach; (2) the action i' reyuired to cure surh breach; (3? a date. not less Ihan .l0 dat5 Frum the d:de the notice is mailed to BnrroKer, b} which such breach must be cured: and ~~3) that Eaiiure to ct~re such breach on or before the date specified in the notice ma}• result in ~ acceleration of the sums secured bc this ~tort};a~e, foreclosore bJ judicial pr~~ceedin~ and sale of the Propert}. The notice ~ shall further inform Borro~+er of the ri~ht tci reimtaie after acceleratiun and Ihe ri~ht to atisert in the foreclosure proceedinQ the non-exisience of a default or an} other defence of Borr~iwer to acceleration and foreclosurr. If the breach is not cured on ~ or befare the date specified in the notice. Lender at I.ender's option ma} dcclare all of the sums secured b}• this '~tortga~e to be " immediatel~~ due and pa~able Kithout ftirther demand and mac forecluse thi~ '11ortKa~e b}• judicial proceedin~. Lender shall ~ bc• entiNe+i to collect en such proceedink all expenses of foreclusure, includin~, but nat limited to, reaconable attorney's fees, ~ and costs of documenfan e~idence, abstracts and title reports. ~ 19. Borro~ser's Ri~h~ fo Rcinctate. ti,~t~tith<'and~nc Len~ier. :~,_:~I~r~ih.~n ~~f thc sum~ ~e,:ureel h) this ~~~rtgage. . Brrr~~wer shall h.~ve the ri;h'. tn ha~:e: ,:n~. pr~~.e~~,~i;~,~. he;un 1~n.1rr tr* ~nt,~r~e thi, ~1c~rtgage ~ficcontinued at att~' time = a~~~ ~z P3GE 9~Q 4 ~i A. _ ~ _ _j 1~ ASi~. ~~?~.~tt .,FU?.~.,~'~s _..a'~a-G-~..c~-Jc'J~ +d'~:~'? ..sa. ..m~"~ 1KA~SS~a