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HomeMy WebLinkAbout0987 t UN~FOR~~ Cc~vF!v~~vrs. 8orrv«er :ind l ~n.1rr r~~~enent .~n~i :,Rrer .~ti f~~lt~,H, 1. Pa~ment of Prinrippl snd Interest. H~~rr.~Nrr .h.,ll pr~~n~{~tl~ ~~a~ ~~hrn .1ue thc pr~nciE~nl u( .+iid ~ntrrest on the indebtedness c~~den.~J hy th~ ,~iotr, prepa}mrnt an~i I.~tr ~h.~r~r. a~ ~ruvi,fed ~n thr ti~~~,- ,ind ~hc princ~pat uf and ,ntercst on any Fut~uc Ad~•anctc SzcureJ b~~ th,c M~~rig.~g~ . 2. Funds fo~ Taxes and Insuranct. Subjc:t t~~ appli,able 1.~w~ or to a~~rittrn wa,v~~ b)~ Lcnder. Borrowrr thall pay to I.ender on th~ J.i~• monthlY imtallmentc i~( pr~n.ip:+l .ind nitrrr,t ,tr~ {~a~;ihl~ u+iJ~r thc N~~te, t~nt~l the :~otC {~~id m full, 8 sum Iherrin "f=unJs"1 eyu.~l t~~ ~~ne t~.~~lfth ihr ~c.~rl~ ta~r. .inJ .+.,r..mrnt; ~~hich ma) ~Ita~n pnrrit}' o~er lhis Mortgagc, an.1 ~mund rents .~n Ihr Pm~~rrt). it ,,r» rlu. ~~n~-t•..c!(th ~~t ~t iric ~rrmiunt installmrnl: for hatard inturanct, plus one-tw~ifth ~,f ~early prcmiiin? ~mt:+ttment, t~~r m~,it~:rer in.;~r.~r~~.. it :,n~. a11 e~ rra~,,nahh~ e~~inr.~~e~l init~all~ and fr~m time to Ume bV Lendcf on th.• ha,i. oI a~.~ti,~~~rnt~ ~~r~~t h~li~ ar~i rr.~~~~~~abir ~.nm.ite< thereof. The Fun~1~ ~h:~ll hn c~lJ in .~n ~n,r~tut~~~n thr ~i~~,~.ih .,r .~,~,~:int. ,~t Hhi;h .:r~ incurcd or guaranteed h) a Federa) or ~tate agcnc~ 1 ~n:lu~lint~ I cndcr ii I rnclrr i, .u~h .in in.u~ut~~~n ~ I rnJrr .h.~ll .~r~l~ Ih~ F=urn1~ te~ pa~ ~.~id t~~e,, at~essments. insuranrc p~~inituns :~nd gr~~uncl rrnl. t cn.iei iii,s~ n~~t :hasic t,,t h,,1,4i~i~_ .~n~1 .i; rl~~n~: th~ }-und;. .~n.il~t~ng ~aid ~CCOUnt, ar verifting ~nJ cun~`~ling ,.u.l :~»r.,nicr.h .~n~i hill., ui;lr.. f~n~.;r F,.~~, 13~~?r.,Nri ~ntrre,t .~n thc Fun~l~ and applicahle !aw permits t.ernicr ti~ make ,uch ~har~e R~~rr~~;+cr :in:! t rn~icr ni.i) aerr~ in ~.rihn~ .~t [ht timc ~~f ~~e~utinn of this ~1«rtgage th.it intrrest ~~n the Fun~i~ ~half he pai~1 tr R~n~~~?er. .~nd unle.s .u.h .~~reement is made c+r .~pplicehie law requires su~h int~rest t~~ he paid, 1 rnder ~h:ill n~~: hc rcywre~i t~~ ~s~ Fi.~~r.~~cr .~n~ ~n~~test.~r earmngs c~n the Funds. f_ender shall g~~~e tu H~~R~~N'l'f, NItF7l~t1[ tiha~,~r .~n .~nnu:~l .~.:~~;inic~i~ ,~f thr ! un.i, ,h,~~~ink ,rr~1i~~ .~n~1 ~lehitti t~~ [hc f`unds and the purpotie f~~r ~~hi:h r,ch tlehit li~ thc i tin.l. ~~:n tti.~.l~ I hr 1 uu.i, .u~ E~1r,tLr.l .t. .i~i.?~t~~,n.il ,:~uril~' for ~he ~umc ~ecured b}• thi~ ~1~,rtgagr If lhe a!nount .~f Ihr Fund~ i~~id h~ 1 ~n,t~r t~~_~~•thrr ~~:lh th~ ~ulurc m~~n!til~ IC1~L~IEi11cRl'+ .~f Fun~l~ p.~}:~bl~ prtv! to lhe Ju~ JatcS.~[ t.~~r,. a,.~s,ni~~i~.. in~ur.:n.r ~r~nuuiu, .~:~~1 ~~i •:in~! r~nt. ~ii.~l! r~~rr~t thr .~mrunt rryuir~d t~~ p~} ,aid taxes, assessmenh. ~n.ur,~ilCc ~rintinlti. ,+n~ Cn~unil r~•nt, .i• Ihi~ ..~1! ~1ur .~;~h t~.~•~ ,~~.~i~ h~. .~1 I;i~Ff.~u~f~~ ~~p~~~•r~, e~ther promptl} rcraid tu Born~~rr .~r ~rrd~tr~i ki,,rr.~~~rr ,~ii its,,~,:hl~ ::i.t.~llmrn:., ,~f Fun~i. If the .~muum ~~f th~ Funds held hy Lrnd:r ,hall not b~ wfli.ient tu pa~ t:~~r.. a~,r"~;i.•~~t,. in,ur.~n_~ (~rrmiunt. ,~n~i t;rr;~n~ rrnt~ as ~hey falt due, 8orrowrr shall ~a} t.~ Lcn~7~: .iny am~~unt nccc.~an t,~ n~.iF.r u~ thr ~inc~,rn~~ within 30 da~, tr~~m thr datc notire is mailtd by 1_e!IdCr to B~~ff~~u'tf rLyuCStui~ pa~nunt t}terirt Up~~n pa}mcnt ~n full all sums sr~i;rr.i h~ th~~ \t~~r:,.i~~. ! c~ui.r .hel! f~:rt~tiF~tt~ rih+n~1 t~~ (3orr~~~+cr .~ny Fnnds held h}' L~n.ier. lf undcr p:irag~aph ln c~rc~t th~ I'r~rprrt~ ..,i~ ,~i !h~ i':.,~•rn; uthrn+: ,:~..~u;r~d b~ Lendtr. I.ender shalV ~pply, nu 1at~r th:~n imm~di:urit E1n,~t t~~ thr ~:~Ic ,~t th~ Pr~~;~rrt~ ,~r it, .~:yuiti~hon h} I.er,~er any Fund~ held by. LeRdCr at Ih~ tittt~ uk ap~+li~:Ni~~n .i .~~.1it .iL.i~n,t ih~ ,um. .r,~~r~,i h~ sF~~. \trrt~.:,~ 3. :~pptication of Pa~mcnt5. l nir.. .~~~j`~l..l}'~~ ~,l\\ f~t~~'.:,~i? ~~~Z!~f'.~I.~ .L{ }~.i\fll~il~? TC.iI'.Cli f1\ ~ C(lljl'f U(1JC'! the Note and par.igr.iphs 1 and'_ hrrr~~t ,h+l~ hr ,i~+E~1~~J h~ 1 cnJr~ fir.i ~n r.nn~~~,t ,~t .+m~,unt~ paY.~hlc t~~ Lcn~ler h~• Bnrrowes under paragr.~~h 2 here~~t. then tu ir.t:rr.i ~:e~ahlr ,~n r.hr \,+r~ ;}:,n r,, thi E„!n.i~:il thr \rt~•. a:ul thrn 1~~ interes[ and princ~gal un ;+m F~~tur._ Ad~af~ce~. 4. C'har~c.: Liens. B~~r~u~,cr ~F~,,,' ~,;t~ .ili ..,~••~.•r rr,t. .tn~i .h.,~~r. finc~ ;in.l im~~~~~ti~,m attnhiitahie to the Prupert~ «hich may ,utain ;a ~r;~~nt~ ~~~~r \1,~r!;,~~.• I~.,,~h,~~,} i~m~nt; ti:i~i~nd rentc. if :im. in the manner pro~~tdc~l un~l~r rar.+gr:iph Z h~rc~~f ~~r. : r,~t E•.;::i fi ~rs•~.~~i ni.~4.i~~~ 4.a}mrat. ~.hrn due. :i~rectty to the pa~ce tn~r~uf Borruuer.hal! promFth turn~~i: t.~ 1 rn;i;r n~~t~:~. ~~f .~m,~unh .Ju~ under thi. p~ragraph, and in the event Borr.~uer sh.+fi m.i~.r pa}m~nt ~iir«t~~. fi~~:~~,t+_r tll E~r.,;~~;~: t~.rn~,!+ i~~ I.~•n~l~r r~.~tpt, ~~~:ienc~ng st:ch paymenls. E3orro~~cr .ha;l pr.~mptl~ .fi,~h.~:~~ .~n~, ! ~n ' ; . ~1,~rt~:~_, ~,n~ti~.lr.i. th.it K„rt.~w~r sh~ll not be reyu~red lu ~:s;ti.irgi• •~i,'r, h:~~ . ~ i,~ ; . . li . , . ~ ~ . _ ir .,,i~,•;; t~~ }~atment thi ~,hl~_.+ti~~n ,ecured b~' su~h lien ~n a m.snnrc t~tnt.lc ~ , { . _ . . _1~ . ~ .ir~en.1 rnt„r..rn~nt :•r ,u~h fien in. leg.~l prc~.cc•ding. ~~h~rh ~~E•r~.,!r t, ~,~t , , _ . . ~ . !~~.!~:..;i_ ,~f (hc Pr,~}~tri~ . . .:+i) ~+~rt [htreuf. 5. Nazard Inwrance. f;,,:r~~,,, , . . . _n~. . ; . n~~ , ~ hrr~.it!~r ~r~,;r.i ~~n the Pr,~prrn m~ured ag.~inst lc~~s hr hrr. h.~~ar.i, in.lu~1,:: ~i .I:. _.c~ ~n.i h~~•hcr haZ.~rd~ a~ t rn.1~r m.~~ reyuire .ins in such .im~~~inh :~n~l f~„ ..~j:h ~,r,~,~.1,`:i. I ~_.,.lcr • . . .id: ~ .`~.:t 1 ~n:!c; .hall i;,,r r~uuir~ thet th~ ~m~,unCOf SUC~I ~~1V1'~JlC ~\~t~(~ (h.ll .1Rh~illtt +r( . , ~ ~ : . . t . ~~i"!L.1~i ThC insuran.~ :.errier ~~t.r.tdt i, !hr in,,:., r., ~:i '~c ,.~•n h~ li~ ~._r ~h;:~! I~~ ap[~n~•.al h~• Lcn~ier: provided, that su~h appr.~~al ~hall n~~t h_ ,:cr:.., . .~i~~,'~_i~ . , . ,r,,: ~,~li~~~; .hall hr rai~i th~ manner provide.l undcr par.tigra~?~ ? h~~~~~f ,t t,..,~ :n r,i.~;,:._ ` t,~ if. r., .~~r.rn.~~ r~s p.~~mcnt. uhen due. ~iirectly to the insurancc carricr. ~ Ali inc~ran:r ~~.~li~it~ .~n! rrn,~._:!, ii .~r ~ . ~ . _ _ . , I . .h :nJ;~d~ .i titan~f.+rd mc~rtgage ~ ~lau:e ~n fac~ . ~~f an~i << ....,;E~•.~`~:c ~ 1 ~.,,tr~ { ...,i.. _ i_ . i.1,'ii'- r~~`i.ir, .~n~i rcne~~al. thereof. ' and B~rr,~~~er',};.~II p; n}~tlr.,f~~rn~~i; t~~ t r:~ '~c _ :~t~ t~.lui ~rrmiu~:i~ ir thc e'~~nt uf lo~s. ~ B~if[~~~+~! ~h:t!~ ii~~ E", ~i '.ii. . rr . ~ ( : . _ I ~ : i ..~1.e ~ f ut !~i~~ :f ni~' ,ti:tde-~ r~im(ttl}' b~' F3~rruwrr. . LIl~~1~ j-c'(]l~Ci .llli~ B~~if~~~i1 ~~:hCf~~~.-~ :f~~ri: ~t~ I:;!_. ~n.ti',:t?.C ~''~'.~'i~!• ~f~,~i! F~~ ,1(~(~~I~lj t~~ ~t'ch~(.fU(~R ~~f lC~131~ OE ` [f1C f~ftl~1C'fiy ?~~If31.:1;C.~. 4~!~ • ~•;Cl~ .l:.h CC•.~,~r;t~~ , ~4 . . . ~ .~'T:! . .:1~ .,.~.~~,t,'.c ..!ll~ tfli ~CL11'1?\ Ot ?til~ ~~;~rt,age IS ~ n~~[ ther~ht irtt{~.~,rr~1 It ,u~h t.~t ? ! , ~ ~ , . , rh: ,c_un[} ~,i Ihi-. \1~,ri~.~~,~ ~+•ouTd bC iOl~?ii1fC'4. If1C .~'~~.f.tn.C (`;~,~_'il. ,}L~~i h~ .i( ?~t.~: ~ .;i.. + '.il ~~,`~I~.~Ci 'a~~!fl ih~ z~:r,~. if .~m~. paid ~ tr> B~~rri,w~~ l! ~t~r Pr.~~c~t? i• .~`~:r,~' + i3~~rr. . , .l3. •urr , ~ ^ ~ n~t t~, I ~ndcr •.+i2hirZ 3U d1:ti tt,~m the c~:t'.C !lul:~~' i• h\ ~ ~IIi~C~ E;. •i! Ifl, "~~i .r '.i.t'~~. t~, t!t~Uf:tiTCC :}ltti 1.ender i~ euFh~~rnleJ ~.~li~_! in~l .~~E~i', th: ~ 1, .i; ! ~ , . . .'t!~.. ~ rr~~~~t.iliun .~r ;~p:iir ~~t [t~~ Prit~efl} :r~_~ ~g ~u Iu the sur,~, ,~:ure.l ! :hu \1~~rl,~.ik~l• " . ~ t.14~C~.~ i..^l~Cf Sill~ ~i.~(f~~Nit ~.i~l _ f~.. , . . . , _,~i(j? (lr nf~~l~l!?:1~ ~~i.tl~ !1C~~ l'X~~Od y~ ~1.~~(j?~`;tt ?}i~' ~.1~.~ ~I:itJ ~~f IhC h . . , ~ ~~~~~fC~,f .~r :h.~s1Y,: Ihi :i7:~~lft1l 6f ~ ~uch 'r,I~l'rn~•n[, It ~ n~~r E~ar.icr.i~,:~ > ~i.•.~ t i, , . I . r ,ht. an.t inl~r~.t ot Borrowe~ ~ in .ind tr en~ ,n~.~r.in_c j+.~i:.~~~ ..n.l ~n ,u .i , . , . h. . . c . ;r !h~ ~~L; (~r,~,r t.~ lhe sale ~ U~ ;I:UU"~1(It~II k},l. ~.Clll~lY :F'.~. i i ~ _ , 1~.. ' . .E~. ; ~~.i:,tlli\ ~flt?; ~•ttCh ~ale O( € ~ acyuisiti~n. ~ 6. Prcscr~aliun ~nd ~I~IIIICII:1111C uf Yrv~pcrl~: ! i~:~•~h~~lil.: (~~nil„niini~ini~: 1'I:i;in:d l nif 1)r.clnpmcnh. f3•.'~rroHer ~hal' kccp ih~' Yr:~Fc;t~' in 5~~~~~1 t;:~'.u~ .~n~l hali t. ~ tn: .,:t~'..~i,~i;:t .~r _Icirti~~r.~h~~n t~f Ih~ PtopCffy. an~ Shall c~:~tpl~ ~..ith ih~ pro~~ti~u~» 1r,~,i ~ . \1 ~ _ ,:.~.~h,~?d It t5i, \1,~r1~.~,: t, ~:nit in a cot~ii.in~iniuni ~~r .i E~i,inr~~d un~t ,!;.tl: E•;•i:n! :r , r:;~ ~ ' 13;~~. . ;r ' i;~.i:;,~:» ti•s~;•:r ~itic .~i.lesati~~n • , , . .>r ~u~rnant~ ~r~.~ting :,r ~~~~irn.r ~ ~h: :i . „ . r,~r ,i; 'h; h~ ;c~~... :,r;J rr~~~latioiis of the . ~ - i ~l,inn~.l unit ~~•.~I.~,.r;_ :l ~:~.ii~ ~.~,t ~I,~::;~,,:;~•, If .,,,:..I,~mtnium or E~i~nncd ~ir:it ~i~~clvpment , ~,~n~lu;;~in;um ~ F ~ ~ ~ r~.fer c~e:i,~~~i b} Bor~.,w~r .~n:1 ;~..~~~l..i t, ~.it~,•_; sn, \t,~rs~a~~ ;h~ .~~~.rn.,:~t, eneJ .,~re~ment~ ~f ~u~h rider 1f1d~~ bC t(1N7ElC~fdlCil Iflltl ~tlu iF:i~~ .i(11;(li~ .f~~~.; .il~~~~~_:::iil! !fli ~~~tl'f7,t!ll~ :ifl~~ .~'_~CifilCtl(i t`~ Ifl!~ ~~t~ff~':i5t dS lt1C TlljCf ^ were a pert hereof. r; 7. Protection of Lender's Securilr. li•~rr.~~•ter ~.~~I. rn +~~~f~~rm the c~~~~en~nt~ an~f ~~r~ements contame in t is ?~iortgage. or an} a~t~~m rr prz~.~e,i~m; .~~nm:cnce t.~h;.h m,~t:riall~ .~ffc~t. L~ii~ler's interest in the Property. = includ~~g. but n~~t lim:ted t:~. ~minent dom::in. ~n:~l•,enc}. :~~de ~nf~~rctment. ~~r arrlR~CtT1C[lI1 or ps.•:eedings mvoiving a ~ har.krupt or de:edent, ih~n LenJer :~t 1 en~er u~•~:i n~~':~c t~~ B~~rmuer, ni:~~ m:~ke wch appearances, disburse such ~ sums and take such a~ti~~n a~ is n~.r~:ar. t~~ ~r,~t~;t 1 rndrr'. ;nt~rc~t. m;I~:Jing, hut not lim,ted ro, d~sbursement of F reasonab4e attomeq's tces and entry +~P~~s~ thr Pr~~pcrt} t~~ m.~4.c r~r.+~r. {f I.ender reyuircd mortgage ins~rance as a ~ condition of making the loan secured b} th~` ~tur~g.~g~. B~~rru~~~•r SI7JII pa} the: premiums required to maintain sucfi insurance in et~ect until such t~me as the reyuiremeni fur such inwran~e terminates in accordance with Borrower's and ~ - • boa ~ ea~€ , : ~ . : n ,~'t ~ ~ 9 ~ ~r ~I~ i: L~~ ~lJ ~ ~ ~ r S ~ 4.. . ~ . Jf. f~ ...~i~ ..Ya,4` ' ~ ~ . _ .a~n~ ' '~'F.~:`~~~"G~<~'.. ^e'' ~""s~ .rr°_~~?2~^~'~~~'~""~