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HomeMy WebLinkAbout0932 . i tain ~ full a~x1 xcvra~e srt ~~f txx?k., and rer~xif., ctx~wi«g all the ~1~xtK:~c~ n~~ ha~~ruixkrth?,~funK:~r~xunJr~+i?r?.~H.„1Fi~,rkl.i nuttrrn alx»~r ,pctiifie~l. arxl ahtll prrmjt M~xt~rgrc :u :tn}• umr tu n~ ~~i~ ;~J ~I~c~~nH~ tx• ~t~~nK:~rr ~~f .urh ux~~xni ~xuuwnt iii.pcti~t aixl audit aU hkxtp,:~:x's b~wkc xr~ wnt, re~x~Ec. :uxi hrrrto, sha11 ncx curr an?• brr.kh ur ~irfault. rx~r :~rct :ui~• pn K•rr~JinK ~~+~rr. rr!stinR w:u~y cX the [~xegc~ing n~atters. In thr event am~ such in,tiwtrcl Fr~~ ~rascx? therec~f, t~such incumr. Itci all au,t. ~~f ~~{~rr- auJ~t i, ~~utic~tl tu he macie t~~ lNi~rt~er M• rc:c~.m ~~f the failure ~~f atiun anJ nuintrnance. a~hen rtcei~tid ty}• 1?kHt~re. titull hr.y~~licYl ~I~m~~x tu axnply wi~h an}• the fixeguinR ~nn~i~texi~, ttxn in rrciuctkxi ~~f the rntit+e incielxcYinc-tc fnxn timr u? timr xtiurcYl ~k>rty:?},Kx st~l) pa~• tu Ak~rt~re uEx~n ckn~.vx1 al) rxprn+c~. inc~r- ~~~y. (~1~xt~x shall nut in :u~y mannrr ut~strucY ~x intrrfrrc with «til h~• ~tixt}{;~{er ~n ctxinectieMt with such :~udit. ;u~v uf !Next~gc.~es ngtus urxier th~ PuaRr-aph 16. In thr c~rnt ~kNir ~~f thr pn„-i+iuns e~f this Paragraph 11 shall be ~~lirrhlr ~iun~er actt under the provisi~~ns of thi~ Para~raph l6, ~kmK:q~~r I~m~; the pn,pem• ic rrsiclential in ~ture arxl ~+ignc~cl fur shatl pa~• a service charge in an am~wnt eyua! fi?•r prrrrnt (Sy1, ) ~x~~u~~.~~x~ t,~~ Ic~+, chan fi~~r (5) familic~.. ~:f all inaxne collected b}• h1~M~- 12 1 k~.~IAGE ln OR COVOE~itiA710\ OF PR(~PE}t"IY M~~ aw ~rd . J I~n~ ~u.~. ~~r ;~•,t•;~•;::7:;7: •.f:j~fl' i - ~7. t){~lNl R'(~UCtiI l~ ~~INLK'.~{(N~ 11~~~'C Iild\;:i! Il1 tit~t' l~(Il)Il, - L.-..._r,~.. L'sTS: :;.:Y i~: i:i.i:ii~~iC:i~ wii~~ :ii~~ (flNll [1f11e LO 1lRlf ~I13~CC ~WUf~' :Ilh:U1CC1 (V MIN~j{:i}~~lX; ~ftl1'{C~, <<~~xk•nu~:~tiiNi f~?r Ewhlic u+r i~f ttx pnr~rm• ~x arn~ part there~~f. or tx>v?•e~~er, that wch :xhanecs are macSe within tv~~rnn~ (20) ~~rars fn~m .~m ~,r~x-rcYh ~~f am• x~ttlrmrnt vvith rrspcri to a ccmclemnat~cx~ ti~r due here~~f and that the taal principal securtiYl hrrrM• anef hr[hrr ~x n~x ~ minrnt ~k~nuin pnxeeclin~s ha~~e been in.uitutrci, ~m:iininR un~uid, including art~~ wch a~h-anccs. sha!! rxx at :tm~ timr ,li:~ll In a~xl i~ hrn~h~ a..,ig~xtii M• ~kxt~Rex and stull br ~reid rxcrti~d the aggreAate ewstanding principal wm ~~f ~I~~nkaKc~c. a•fH~ nu~• ap~,l~~, u.e ~?r rrtc.i.r the am~wnt thcre~f in tl~ i 0.00 plus any disbursernents made 1r~ M~xtga~re •.unr man~xr :i, in F'ar~Kr.i~h 2 pnn-icicYl fa>r the Ex~ex~rctl, ~~f firr i>r kx the ~}~nent of wxes, levees, or inwrarx~e cm the At~xt~cxl ~Khrr inwr.~nrr. Pre~ett}; N'1[Fl intrcttit un such distwr:s~Ynen~S at the clrfauh rate pnnicirei in pnxn~cx~n• n~xe sc.~rc~cl hereb}~ M~xt~x shall executr • li. tiEVEFICtAFSI'ti CO\~EYT FtEQI'IFtED. M~mga~;re n~:i~• de ~~li~~ to Mort~ager a nute evicirncing e3ch antl e~^et~' such e I:in• ail .um. utivrrci hrrrh~• immrciiatel~~ due aixl ~}abie nithin futurc ach~ant~e which ~kxtgaRee trray make. and wch ticxtiment~ ati ~1 ~ta~~ :iftrr wch ~kti~l:uati~xi raccpt rxprts.h• limitt~cl M• I~~~; if ~1<~rtp,a~~e m~)~ reyuire w rc~(lect that such rwtr is sec~uretl hrre~~~. ~1~~rtK:~~>r.~~'iduwt ~k~n}~a},~c~'. priur wTittrn auisent: (a) srll... cun- ~k>rtg,~x shall pa~~ al) such future ad~atxe~ with interest pnxitk~el ~ ~~r~~, r~H~traeY~ u~ .rll. alir~~tr. ~~r furthrr rncumber~ aU ur am• ~n t~~~, ~ p~h n~te t~'iderxirtg the ~amr. st~ll be ' ~~f th~ pn~rrt~~. ~x (h} Ira.c~+ all ~x am~ pan ~~f the ~re~ern• f~x a ~.~~r~ ~}un~ }~erein a~ntainecf ~I e~ti~tr t?kmRa~~e ~ trnn, t~~rti~er W ith all rxerci+:~blr ~~xi~xt~, c~f 5~-ears or nwre; e~r ~i~ makr am- tiuch future adrarx~e:.. 71?r wY~nl "Mixt~gex" ati u_+x~i ( i)~u(Trr. thr title <x am• intere.t in the securecl pn~em• tu hr in this par,~graph, includr.c am• ,ixcc~.xx in ov?nership ~~f thr ~ln•~~tr~f. ~~~hc~ther ~-uluntarih• ~x im•e~luntaril~; ~x (d) ch:ut}~ ~x ~1~?ng,aRc~cl Pre~em• or am~ part theree~f. Thr wurcl "Akxt~er' a~ ~rrmits tu hr changc~ ttx charre~rr ~x u~e of thr pr~~em; ~>r (r) u.tic~ei in this {ra~raph include, :im• at,ip,nee of ~ttxtp,a~;c~e. i, 3 pannenhip and am• ~~f the Reneral ~zu~tr~rs interc~ts are tr.litc- ferrrd or :ic~iKnt~, w~t~c~ther ~°~~lunwnh• ~x im•~>luntaril~; ex ii a 18. ~k,rtgrKe>r ~tull pc~~• tu hkmRager the maximum ~r~~ratiun ~cith frv?er [han l0U u~xicht?kJrn a[ the cia[e ut'rxc~ uti~m anxwn[ .i~ mar fn,m umr te~ timr be prrmitteci tn• l:iw for fumut»nK ~~f thi+ ~t~~rtKaKr a~xi rmm than ~O~l> ~~f i~. rape[al ,t~xk i. ud~i, in cYNUtrcti~~n v~ith the e~ligatkxts sectired heretn: each uatemrnt tr.~mfrrr~tii ur at~i~nrd durinK a I_-nwnth pericxf. ~r,~~~t tu am• uatute at the ti~ne then in forcr. ~1~ckiiti~x~alh; 1-+. \O Vc~I~~R Atun~grr M accc~tinR pa~•mrnt ~~f :ui~• ,um U<,rt~ur .h:?11 pa~• ~k~rt~,ers fer+. charKes :tnd e~rn.c~ f~x an~• ~ctiurcYi hrrrh~• after itt due cJ:ttr, ~x M• makinK pa~•mrm ~rr taking ~xtxxr ~tatrmrnt, infurmatiex~ cx senices furnitiheel tr~• M~xl~gee in , am actiun ~ti-hich. uneirr the pnr•i,ionti hrre.~f Murt~Kre is rn[iQc~i ~e'°'~~ion with [he uhligationt secureci hereb~~ tiaid srn~ices ma~• , hut ~xx ~~hiiKatcY1 t~~ m:il:e cx take, ~x 1»• furhe~aring frc,m rnf~~rrin~ 'Miu~ir• hiit shall nex he Jimitrcl tu, the pnK-r+,i~ M• M~mp,:;grr, ~~f ~m c~f it. riRht~. +h.?11 txx he deemrd tu h:t~•r w~i~~rt) it~ riKht t~> ~-~~umptiun.~, +uhtitiwt~~>n.~, nx~eliferati~xit. ~xtert.~icxts, rerx~v?alti, wb- rcY~uirr ~ra~mrnt fnim ur :xYii~n h~ ~fortKagor :li~~l tu ckclare a drfault e rrd~nati:>ns, n~xicsiun.+, ~hangrs e~f uv?~ier. the pnx~ecsinR uf. ~~r f~ \turtKa~;cx's failure tu ek~ w. ~~inJer in thr ezecuti~x~ e~f, am- map, plat wn~• cx exFter in~trummt :iffeainx ur dc~cribinR the prc~ern (inctudinR all reaxding a~ts). In thr c~+-rnt ~~turt~;-ager sh~wld rxprc~csl~• u:ii~~r am~ riKl~t~ unek r rec~~ttL~~vn uf m:tp, plat ~x rcrcird i>f tiun•r~•, gr.~nt~ i+f c.~~en~~tti, .ili~ ~7tti\'L~lt~R~ l~ [Illti ~turty~r, wch w~i~-er.shall rxx Fx eleemctl a and fUll and partial rel~.ises, arxl thr otx:iining b~• Alurt~grr u[am• .+:u~~er e~f am~ ngh~. ~turtgaKee ma~• h~a~•e suh~ryue~uh rc~yuire ~x>I~cic~ uf in.wrance pur,uant u~ am• ~~f ehe pr~,~-isiun~ ci,ntainrcl in E~.~~ment irum ur acYicxi Fn~ r3~~n~K~x and to drelare a clrfault f~~r this Ate~np,sge. ~tun~r~>r's F:~ilure tu ck~ x?. 19. ~t1I~'ER OF ~TAl7riE OF LI~fITAl70~~. ~t~~rtKa}{~rr hrrrh~~ li. ,1titi1G:~~1EY1' ~lixt}~Kor hereF»~ a~.tiiKns :uxl transfrn tu wai~~c-~, ni thr fullt~t extrnt permit~ible b~- law, thr ,wtutr c~f limit:~- ~kxtR.?Krr during the mntinwncr uf this ~t~xtgage, a11 rent~, issurti, ti~ms as a clefrntir tu an~~ clemancl ex e~tip,atiem ,c~-urc~i h~ thi. ~~r~,fit,, rcr3ltics, tulL., earnin~ and incume ~~f the propern• inclu~ling ~~~~R~e • ~henr a~lti~nK h~• rc.~~un uf am uil, ~ti or miniral it.~ce therc-~~f, an~i :ill inuallments c~f inemc~• pa~able pursu:uit to an}~ contract of salr 20. GE'vEFtAI. PRO\'ItilO\ti ~:r Ic.~tie rrl:icinR the pn~c:m• ~x an}- past tttereof (hereinafeer refrrred cullecti~•eh~ ati "~ncumr' te~ether w-ith the np,hi, pow'er A'itie term "~t~~n~ur~ ,h:ill ~nr.?n ~II ~urtic~ rxe~uunK and auttxxiri- u~ r~~llecY ami rrtain a!I such irxcxne ac it brcumc~. this Ate~rt~e a~ ~iun}~sK~x. thr~: rc~~rc~ti~~ hein. lrK•rtrcti. ~lr- ~ elur ar.~ Err~shle. All inrorne recri~-eci tr~~ ~tort~agee thruugh chr ~-i,k~, ~pini~irator~, rxc~ti~n, ~uccc~w,rti in inirrchi ai~~i ; exer~itie e~f the fore~vinR at~iKnment, Iras all ezpensc-s. (includinR ,igny, ~nnidecl th:?t \1urtj;aRer st~all niK hr +~IiKatcYi n~ Ki~•r i rr.~vir.ahlr attorne~t frc~) incurretl F» ~1ort~gee in c<>Ikcting such ;~n• naicr reyuirc~cl hrreunder te> a?z~ ~tunKag~~r ~xhrr than a~ , inc~~me sh:ill be applieel bJ• ~i<mg,:tgrr exi an} irxleMedncss scYtirecl stx>wn un chr face page hrree~f. ~ h~ thiti ~k~rty,~Re at such time and in tttr manner and arn~wnt :it ~t<~n}~gee m;~~~ cletermine. V~'ith~wt limiting the generalin• c~f the B. The term "~iurt~rr" ,iwll mran ehr en.nrr ancl lx~lclrr t~,reXe,inK. such a~licatiun ma}~ inclucle pc~}•ment ~~f periociic install- ( incluciing a pleciger) e~f thr n~Ke ~rcurrd hrrehJ. ~tih~~thrr ~~r ments e~tprincipal and intereu, cx reducti~m ~~f the prirxipal halrncr n~x namc~l a; ~1<~rt~Kee herri:i t~r rrimtwr.srnirnt u> AfonRaRee as pr~nidecl in P.~ragraph 8. The fiN~~uing attiip,nmrnt ~S intencleJ at an auiKnment tu takr rffec~ C. E:~•en~ prc~~isiun i~f thr ~I~m};axr imExnin}; uprn c,nh~ uEx>n a cief~ult tr~ Uun~q~x in am~ ~~f ~iortRagc>r~s ~~li~tium ~tunR:~~x :m c~lip,:idtm u1 prrf~~rm an acY. ~~r rmhcKhln~; an unelrr th~. ~11,rt~gr. anci ~Sc>rt~gur acce~rdingh• r~~en•r~ thr nkht, aKrrrment b}• ~f~>rtp,agur tc~ prrf<>rm an acY. ,tull he• i~mururJ ~xi~rr t~~ am tiuch deiault, to cc>Ifcti~ anJ retain all such in~~umr a~ ss t~hl~p,ating ~1ung.~<x to ~II cert~ and rr~rn.cw r~•l~t~ii}; hrcc>nx~ dur anci ~a~ahle. thrrrti~. 16 UEFAI'IT hl' ~tOKTGAGOR. l'~xx, ckfauit tr ~1~>rtg;.iK~~r in D.Inther~~rntan}•pru~~isiunhrrc~~f.hallhr~l~rctlim~liJ ~~~~ment e>f am• in.ieht~xinc~„ srcurrei, e~r in thr perfe~rmancr uf am c~r unrnhxce~ablr thnwp,h a final juc}Krment in r cuun i~a~~nK ~~t~liKatiun im~~c~l upe>n ~1orty,aKur. h} thi. ~fc>RK3Kr, ~t~>rtf;aKee rcxn~rtr~u jur?.xlicti~~n. thr ~~li~9tc c>r rnii~rc~:ihil~t~ «f am „f m.i~,aith<~utn~xicrandaithe~utrey,:~rdtutheacieyu:ic~•~~fthesecunn tlK~ rcmaininK tern~. hrrcti,f 11uU ixx hr tl?rrcir im~iaireYf f~~r thc incirFxrclnc~.~ x•cun^c1 hrrE~t~~~, cither prru>nall} c~r tr au~~m~~ ~naKrnt.n~thnuthrinKinKam•acti~mur~nxrrJinR,wittxfutrntrrinK E In thiti »Uf[~,d}',C. V1-I1tfE'~'tT Illt rcxucxt xs rcyuirr.. tlie iiuu Fx~„r~tiiun ~~f thr pr~~~rrn: ~>r h~~ rrcri~-er t<~ hr aE>pi~intrcl hc ma.rul~nr Krnckr mclu~lc~ thr frmininr anJ ncutrr. c~ic•,i:i};ular a c<~un. ta) cntrr intu ~x~sticw•iun an~ hulel. ~xcv~n; perxw~ ~n~1 numtxr inrluek~ the ~lural. and ~ice ~•rn:i. an~ if nx~rr than enrn t1~e ~r~~xrt~. (h) ni;ilce. cancrl. cnfeircr. m<x1if~ ur trrminate ~~~~r per,~,n ~ti~umrel:~~ UunK:~Kur.thr~~t~l~y,au~~i.~~f ~I~~nv,a}:~~r Ir.iu-.. ~cl <~Fxa~n .inel ejrct tenant,. l~l) tirt ~>r nNxlif~~ rtntti: (r) t:il:r. ~h~ll hr tix• Mnnt :~i1~1 .c~rral ~A~t~y,au~m. ~~f ~ach ~~rruHi rrc ri~r an~1 rullc~eY all ix am~ Furt uf thr rent~, ~~tiurti, ~re>fitt, rin altic~. P~ilir trrm "auurne~ti frr~' stull inclu~le ~II r~i.t.. c~~~x•n.r• tull+, e~rninK~, ine-umr and inu~llrmn[.Ihrreiruher refcrrcti3 u~ce>! ;~~~~;~~~„rne~-~fc~incurrtYl~xiura~tl?ri~i.titutic~n~~f.ui~ ~r~xrr~i I~Yt~crl~ a, ' incunx' l a~ it hra~mc~ ciur and ~a}:thle. After ~a~inK inK. Jurui~; ~t~e rrs~ckn~~• tixrc~~f. :+n~l at all Ic~rh ~~f ~~~~~ra! ,uch c~nt, ,if maintrnancr and c~erati~~n ~~f thr ~rc~rrn~ it in ~t~ Iu~!};n~cnt m:~~ clrrm pr~~er. i1c~rt~Krc• ms} :~(~I~ thr tralancr u~m G(a~xi~nl~ :~nJ ~~ar:~Kr~pi: hc:i~linK, u.c-~1 hrr~•in .~rr f~~r ~hr e~inn• in~lrhtr~lncw. then ~cti~ureYf hereh~ Thr accr~xancr ~~f wnc ~~~m•rnirtur unl~~ an~1 :+rr rxx a prrt ~~f du. aKrr~•mrnt :uxl .h.~ll inc~,nx ,hall nsx run.titutr a w~anrr ~~f am cxhrr n~{Itt which n~x hr u.cY! in c~xiuruinK it. Q~; c B07K ~W P~~~ c PA[.F j- AUJI ~TABI~ M(HR(.M~E UEtI) , : . , . d....s~.+r.,~. . _ _ _ : - _ . • - _ _ - .,.a ~ ~ - . - - . ..r_ . . v_._.__.. . . ~t-. - • ~ - ~ ~ _ ~ ..k.s_... ~ - . z.~-.. . . . - - - ~ ~ ~ ~