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HomeMy WebLinkAbout0968 ~ l\li~OIt\i ('O\'I•:\:~\ fti. ti~~nu~~~•r .in~t Lrn~l~•r iu~rnanl auil a~rrr .i~ tuih~~~, I. Pu~nunt uf Principal u~~d (nt~re~t: 1'rcpa~mcnt .~nd I.~te ('h~ir~;c.. l3~~rre~uti~( .h.~1! p~,~ni iy 1~.,~ ~~h~n.i~~r th~ ~,nn.~l,:~I ,,I .ui.l ~ntrr~~~ un thr ~t~M <<i~lrn«•~1 h~ tfi~• ?~utr :~«cl :~n~ ~~~r~~:i~n~~nt anJ laic ~h:ir,zrf ~lur un.l~~r t~f~~~tr 2. F~und~ ti~r'I~:~xt~~ und lu~urance. tiuh~ril t~~;y~~~li~,~hl~ la~~ ~~r t~} ~~rut~n ~~ai~rr h~ l.~•rnlrr. I;~,n~,~~rr .h.~ll ~~:i~ tu Lrn.l.•r ~~n U~r.la~ mumhl~ pa)mrnt. ar~ ~lu~ unJ~r thr ;~utr. until ihr !~ut~ ~~:u~l in full. .uni i"Fun~l,"i ~yu:il tu unr-t~~~•Itth ut: ~.ii ~~.~rh t:~~~•, :u~~l :~..r.,mrnt, ~~hi~h m:~) attain priunt~ u~rr ihi. tirrurit~ In,~rum:nt: ~h1 ~~:~rl~ (e:~.~hul.l ~~:i~iurn~. ~~r _ruurni r~•nt, ~~Il l~li {~fU~T~fI~. 1~ :111\: (i) \C:If~\ fl:ll:litt iO~iii:iiii~ (1f~lllitllll~: .fil~~ (~1) \i:~f~~ Ilk~fl,~:ILC II1~UI:llli~ ~~CI111Ut11~. 1~ :111\. ~~1~~~ It~'fll? .ili i:l~~i'~~ ~~C~iIU\\ Ihlll~.~ ~.CII~~Cf Ill:l\ ~~Ulll:ll~ 1~1C f'Uill~~ ~~UC i~ll l~l~ ~:~,i, ~~t :urr~nt ~~.1(:1 :111~~ f~':I~~~Il:ift~~' ~'~I:til:tic'~ ~~t ~lflUft' C~i(UN ilCllh. l h~ I~un~h .h:~li h.• h~ lii ~n .ii~ in.ti[iuiun thc .fr~~u.it~ ;~r aii~,tutt. ul hii h arr in,ur~~! ur ;~uaranl~•rJ h~ i~.trral ur .t:U.• :r~~i~c~ ;~,~~!!!~l~n,~ t rnJ~r il l.~~i~i~r i~ ,i<<h an ii2.lituU~~n1. !_rn~l~•r ,hall ap~~l~ thr f~un~l. t„ j~a~ th~• ~uru~~ ihnu. L~•n.l~r ina~ nut ~h:u,~r t„r I~ultl~n~~ :ui~1 ap~~i~in,~ thr I~unti,. anahiim~ thr :?iruunt ur ~~nl~im~ th~ r.~n,~~ i~~m,, unl~,. L~n.1rr pa~, 13„rru~~~r uitr~~.~ un ~1~,• FunJ, an~l applir:~hl~ la~~ Jkrniit. Lrn~t~r t~~ mal.r ,u~h a ~har,~r. f3urru~~rr an~1 l.~n.l~r m.!) .r~r~r i~~ ~~ntim~ ihat intrr~.t ,hall I~: ~~.u.l ~~n th~ Fun:l.. l'nl~,. :in :i__r~cm~nt i~ ma.l~ ur a~~~~ltr:~hl~ I:~~~ rryuir~, int~r~.t tu Ik• ~~:u~f. l.ruJ~r .h:?II nul h~ r~ytnr~J i~+ l~~~rn~~~~r am intrr~•.t ~,r rariiin_, un thr l=un~l.. Lrn~lrr ,Isall ~_i~~ tu liurru~~~r. ~~ith~~ut ~har,_r. an annu:il .iiiuunt~it_~ <<t ~h~ f un.i. ,h~~~~ i:r~ crr.lit, :~n~i ~irhit. tu Ihr t~unJ. :iml ~hr ~~ur~~~~,r f~~r ~~t~i. ti c:i~h .l~hit tu tt~~ Fun~1. ~~ta~l~•. I h~ Fun~l, arr ~~lr.l,~~~t :~.i~luiun:il ~~~unt~ tur ih~ ,um. u~urcii h~ thi. S~riirin In.truuicnt. II ih~ :im~~uitt uf ttt~ Fun~l. h~•1~t ht L~n~l~•r. t~~,~rlh~r ~th th: liitur~~ in~a~thl~ ~~:i~ n;~nt. ut 1=urn1~ p:~~ahl~ ~~n~~r tu tl~r ~1u.• ~l:it.•. ~~t ttir r..r~e~~ it~ni.. ,hulf ~•~«<•J th~~ au~uunt ~~~yuirr~l t~~ ~~a~ th~ ~.~ru~~ u~m. ~~hrn ~lur, thr ,hall h~. .?t f3„rru~~~r'. ~,r~wn. ,~~~h~•r ~~r~»nj~il~ r~~~aii11~~ liurru~~cr ~,r rn~lit«i tu B~,rru~~~r un iiiumhl~ pat in~nt~ ~,I 1=un.1>. 11 Ih~ ani~,un~ rt Ih~ t~un~1, hrl.l h~ l.~ n~1~•r i• nu~ w17i:~~nt ti~ }~a~ th~ ~~.iru~i it~tm ~~h~n ~tu~•. }3~~rr~~~~~r ~hall ~~.i~ tu t_~n~lrr :u~~ amuun~ n.:r.,:+n t~~ m:il.r u~, th~• ~t~ii~i;nc~ n unr ~~r ni~~r~ ~~a~nt~nt, .n r«~uir~~l h~ Lrn.ler. I'~r~n E~:~~mrnt in (uU ~~I :tll .um..~iur«I h~ thi. Sriurih In.trum~nt. i..n~lrr ,h.itl ~~ruinptl~ r~ftut~l t~~ l3urr~»~~r an~ l~un~l+ h:l~l t,~ I.~n.l~•r. II un:l~r ~,:ir:~,~r.~~,h I~) th~ 1'r~,~k•rt~ i. .u1~1 rr aryuirr.i h~ L~ti~l~r. l.~~n~i~•r .h.~l! .l~,~,1~. nu I:?t~r th.ui u~~nic~li:ilrl: ;~i i„r tu ~ti~ .al~ i,t thr Pru~krl~ c~r it..~ri~ui,iti~~n h~ i.~n~1~r. :~n~ Fua~i1. h~l~! h~ L~•nticr at thr linir ap1~li~:?tiun a.:~ ir~.lit a;~ain.t ;h: .uni. .~cur~~l h~ thi, Srit~rit~ In.trumcitt. - - - :~pplication i~f Y:~~ntcnl+. t'nl~,.:~E~~,li~ahl~~ la~~ F~n,~i~fr• ~,th~n~i.~. all ~r,i~n~rnt. rrr~?~~J t•: L~n~l~r un~lrr ~:ir:~,ra~~h. i.~m! ,huulJ tk ap~lir~i tint t~, ;~muunt, p:~~:ihl~ un~~r ~,:?r,r~raE~h .r~un~1 t~~ intrrr,t: :~nJ I:ut t~, ~~rinrip:~l. (~h~rkc,: I.icns. Burr~~~~rr.hall pa~ aU t:?~". a.,~.,nirn~.. rhar~~.. tiis~. arnt im~~~,.fti~m, attrihut:ihlc tu th~ f'n,~krtt ahi~h ~u.i~ a~t:u~~ ~~riurit~ u~~r thi, S~iuril~ In.trum~nt. an~t I.:~..h~~l~l n:i~m~nt, ~,r _ruunJ r~nt.. it an~ . Burru~~~~r.~~:iii ~~;i~ ih~,~• ~rh1i,~:Ui~~~~. ;n th~ nr~nncr ~~ru~iilr~l in rar,i__raph ~~r it n„t ~~:~i~l in thcu m,inn~r. tiurr~+«~r ,h:~ll p:t~ th.~~i nn t~mr Jir<iil~ t~, th~~ ~~~•nun u~~~•~i ~~.~~mrnt. l;urr~,~~~r ,hall prumpth furni,h tu Lrn~l~r ,~II nuti«, c~f ,inu~um. t~~ hr ~.~i~! un~lrr thi, ~,:ira,~ra~h. It 1;„rr„~~rr itril.~~ th:.r - ~,i~~ii~nl. ~fiircrth. i3~~~~u~~cr ~halt zr:~~i~^~~: t.~r: ~.?t te~ !.c~? ~~~r r~~~i I. ~~i~l~n~in~~ thr ~~m~nh. f . . ~ r' . P . 1'~ . f~urru.<<•r .h.ill ~~rum~~tl~ ~li.ihar_~~ a~~~ lien ~~hirh ha. E~ri~,rit~ ~,~~r thi, S~rurit~ in.trum~nt unl~~. t;„rn,~~~r ~a? a;~r~r. in ~~r~tin~~ t~~ thr ~~a~mrnt ui thc uhli~_atiun ,~.•ur«l h~ thr li~n in mann~r ai~~~t.ihl~ t~~ LrnJ~r: Ih? ~~,ntr.t. in ~_utkl I:ush th~ li~n ur ~I~t~rn_I,:~~aimt rnti~r~~n~rnt ~,t th~ li~n in. l~~_al ~r~~~«.lim~. ~~hirh in th~ L~rnl~r~, un~ni~~n ~~(kr:n~ t~~ ~r~~rm tlh rnti~r~~mrnt ,:f th~ li~n ~~r ti~ri~ilurr „1 .ui~ ~.~rt ~~t thc Pr~~~xrt~: ur Ir? ~rcur~, fr~,ni th: hulil~r ut th~ lirn :~r~~i:~cnt .:~ti.t.iit~~n t~, i.~n~l~r ' .uh~,r~i~n:uin~, thr ii~n tu thi. ~~runt~ In,tr:imrnt. If l_~n.1~r ~~t~rn;in~. chat :~n~ rart ~,f th~ Pru~krt~ i. ,uhj«t tu li~n +~hiih m~i~ .~t~ain ~irwrht ~~~rr thi. S«unt~ In.trumrnt. Lrn~l:r ma) ~~i~~• t~urru~c~r a nuti~•~ i~l~t~t~liin~~ th~ Gcn. B~>rr~n+~r .hall ,:iti.f~ tli~ li~n I.~I,~ ~m~ ~~r nu~rc ~~f lfi~ a~ti~,n. ~~t turth .ihu~~ aithin 1(? cl;i~. u! th~ _~~~~n~~ ~~1 n~~Ur~_ - tlat:~rd tnsurance. Rurr~,~+~r .h:~!! }.r.~ thr ~nipn~~~nunt, n~~~~ r~i,tin,_ ur h~r.•altrr ~rr~tr~l ~~n th~ Pn,~rt~ in~urr~l a~_ain.t I,~,. hti iirc. haiarJ. inrlu~l~~ ~~ithin thr t~rm "~~t~n~tr~1 c~,~~ra~~c.. an~1 am ~~thcn c~+i:ir~i. t~,r ~~hirh l.cn~lcr r~yuirc. in.u;anr~. fhi~ u~.ur:u~r~ ,hall tx~ m:~intain~~1 in thc :?muunu anJ I~~r th~ ~xriixl. that Lrn~i~r rcyuir~,. "The imur,ln~~ ~arn~r ~~r~~~i~lim_ thr in.uranr~ .h.~ll tk ~h~~.~n h~ Burru~.~r ~uhjirt t~~ Lrn~l~r~~ :~~~«~,al ~~hirh tihall nut tk unr~a~~m.ibl~ ~~uhh~l~i. :\II in.ur,ini~ ~u,li~i~. anJ r~nr~~ai, ,hall hc a~crpt.~hlr t~, L~n~1~r ana ~hall inrlii~tr a~Gin~i:ir~1 murt,~.~~_~ ~l:~u~~~. i_rn~~r ,h:~l! !,.i~~ t~i~• n,~ht t~~ hul~ th~ ~diri~, a[i~l rrn~~~al,. If L~n~1rr r~yuir~~. li~~rr~~~~~r .liatl ~~runi~titl~ _~i~~ h~ Len~t~r ull r~~c~•i~1, ut (~ai~! ~rcmiilm, .~n~i r~n~~~al nutii~,. In thi ~~~nt ul I~~.,. B~~r,~n~cr .tiail ~_ic~ ~u~+n~pt ~luti~r t~~ th~ in~ur:uii~ ~arri~r anJ L~~nilrr. Lrn~lrr m.~~ mal.~ 4,ru~,1 ~,f lu,. i~ n~~t maii~ prumptl~ h~ B~~rru~~~r. . l nl~„ L~nJ~r.~n~l B~~rr~n~~r ~~th~r~~ix a,~r~~ in ~+ritin~~. in,tiranr~ rr~,r~r.i, ~h.il1 tk a~~~fi~~l t~~ rr.turatiun „r r~pair ~~t th~ Pr~~- F~;rt~ ~t.en~a~~~J. if tii~ rr,turati~,n ur rrp:ur i~ .~unumirall~ t~a.ihlr an~ 1_~n~kr', .rr:irit~ i. n~,t l~„rnr~L It thr r~,tur~ti~m ur r~~~cur i~ Il~!1 ~i~~tl~+Illl~:t~~\ 1C:I~~h~~ ~~f ~.Clll~t'~ ~,~rurit~ .~~uul~1 tk I~>~~nr~l. ih~ imur:l(li~ Fl~~k'C~J~ >Fl:l~~ :I~l~l~li~~ l~~ lfli ~Ultl? >C~UfC~~ h\ ilii, Sr~urit~ In~trum~nt_ ~~hrth~r ~~r n~~t th~n ~lur. ~~iih an~ pai~1 tu t3~~rn,~~cr. If Burr~~~~~r .~h:in~;,n, th~ Pru~xrt~. ~~r ~i~n. n~,t an.~~cr ~~ilhin ~I1 ~la~•.+ nu:i~~ Imm I.~n~kr that thr tmur,u~rr ~arricr ha, ~~~tir~~i t~~ .~ttl~ a ~la~in. thrn l.~n~i~r mat r<~Il~rt th~• - iii,ur:in~~ rr~k•r~.l.. i_rit~l~r m,i~ u~~ thc rr~k~c~l. t~~ rc~~:+ir ~~r rr.t~~r~ th~ Pru~rt~ ur tc~ .uni, .«~iir«! h~ thi. S~~urin In,uum~~i~t. ~~h~•th~r ~~r rn~t th~n tlu~. "fhc 3U-Ja~ ~kn~x1 ~~itl h<<~in ah~rt thc n~~u~r i. ,~i~r?~. - - ! nl~„ L~nil~r an~l t3urru~~~r uthrrai,~ :~;=rt•~ in ~~nt~n~~. an~ appl~r:iliun ut ~nk~c~i. t~~ rrinri~~al .hal{ n„t ~~t~nJ ~~r ~u:tpun~ cti~ J«~ clat~ ~~f th~ ni~,ilthh pa~n~r~~~. rrterr~~l ti~ ~n ~ara~~raPh. I c?n~t „r rh.im~~ th~ ainuuiu ~~t tii~ r:~~m~nt.. It unil~r p.?ra;~rarh I~J th~ PruFnrl~ i, aryuin~ h~ L~n~~r. f3~,rn~~c~r~, ri~~ht t~~ an~ in.ur.in~r ~uliiir.:~nJ (~r~k~~~~l, rr,ultin,, trum ~lama~~r t~~ th~ 1'~~~~krt~ ~,r~~~r tu thr a~yui.iti~,n ~hall pa.. t~~ Len~f~r t„ thr ~~trnt ~~t th~ .um. .crur~il h~ thi. Sr~urit~ In,trument immr~liat~l~ ~,ri~~r t~, th~ .~.yui.inun. 6. Pretirnatinn ~~nd ~laintenunce of Pru~xrt~: I.ca~ehold~. Fi~,rn,~~~r .ti:ill n~~t iir,tr~~~ . J:i~n.~~~~ ~~r .uh,t:~ntt:+llt ~h.en,~~ tlt~ f'n,~nrt~. allu~~ ~hc f'ru~rt~ tu ~lrtcri~~r:itr ~~r ~uniniit ~~.i.t~. 11 thi. S~rurit~ In.trum~?t1 ~m ~c:+.~hulil. f3urr~»+~r ,li:~l) i~,mj~l~ ~~ith ~h~ ~~r~~~i,iun. ~~I th~ [ca,~. :inii i( Burru~~~r u:.~uir~. iitlc ih~ Pr~~~rt~, th~ Ira,rh~~l~1 an~t f~c titlr .h.~i) n~~t m~r~~~ ?~nl~.. Lirn1~r <i~_r~c~ tu [ht n~~r~~r in ~~riiin~•. - 7. Protection of~ l.ender'ti Ri~!hls in the Prnpert~: ~lurtka}~e Imurance. If R~~rr~,~~rr I:~il. tu Ekrf~~nn th: ~„~rn:~nh :in~i .i,~rr~n~.~nt, :unlain;J ~n thi. Srcurit~ In.Ir?~nicnl. ur th~r~ t~ a fr~_al ~ru~~cilin~ that nia~ ,i,~nilir.~~ul~ aft~~l l.rn~lrr~. ri,~ht~ in ~h~• 1'ruE,~r~~ i.u:t~ rruir~.lin~ ~n h,~n{.rtiE~ti~. ~ruhat~. t~~r ~rni1~^,n:~~iun „r tu rnl~~r~~ la~~• nr rr,_ulati~~ti.?. tt~~n Lcnilrr ni:~~ ~t~~ ,uii~ ~~a~ li,r ~~h,~t~~~r i. nr~c,.an t~~ i~rut~~t th~ ~aluc ~~t th~ Pru~xrl~ .uut l.rn~l~r'. ri~~ht. in thr Pr~,Ekrt~. Lrn~lrr'.:i~ti~m. ~na~ in.lu~t~ ~a~in,~ aii~ .uni.,~curc~l h~ a lirn ~~hiih h:n (~ri„nt~ ~,~rr thi. S~curii~ In~truntrnt. .~~~~nn~_ ~n ~uurt. ~:i~iri,~ r~.~.~,n~~hl~ :it~~~rnr~•~ Ir~.:tn~1 ~nt~rin,~ ~,n thr Pr~,~rt~ l~~ r~~~ain. ~\Ithuu<<h l.~n~l~r nt;n t:il~~• aiuun unilrr thi. ~~.ira,~ra~~h 7. l.:•n.f~•r ~l~k. Il~~l i1:1~C l~t~ r~ ~~l