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HomeMy WebLinkAbout0954 ~ . . . ' . ~ • ~~~:~K i;~ F t~rl~ - • UK~ ~ i - . . . ~ , j { I1NIt=nR~f l`ii~ t=:~.::v rs. Borru~~~cr aat! I.enJi•r c:,~c~~.+nt aiiit aftrrc ~.n fi,linw~.;: - _ ~ l. 1'ssmcnf ~f 1'~incipa! and lntcrcrt. l~~~rt.~~+e~ .hal! pn,m3~t1~• E,:~y ~~hrn ~luc thc principal of and interest on ihc , ~~ldchtedness <<itlrnre~i h~~ l1:~ Not~, ~~lep:t)'m~nt ,inii lat~ ch~:r~?c~ a. nn~viile~i t~t ih~ \.ite. ~nd ihe principal uf anit intCfesl ` ' on an~' Ftiturr :~da:?nccl sccurc<I hy~ ~hi> >fu~igag~•._ . ; Fus~dc for'i'sxe~~~nd~Insurs~nc:. Subjr~t ~o applicahle I;iti~ or to a written waiver by 1~~ende~, Uocro~~•~r shall~pay . ~ • to [.rndc;r im th~ Jay rnt;nihly installtnent± ~t p~in~ip:it ;~nd intcre~t ar~ ~a)~at~le und,:r ih~- Note, urtt~l the I~otc ic paid in fpQ, a sum (heryia "f~:uncls") ~~ual to urle•1~s41(th uf thr ~eai{y ta~.c~ anc{ t?sse;smentc ~shich may~ attain prinrity ~vet this ~ ~ I~1~rtgag,: anu r:rctiu~ii rcnts un t~c Pr:~~,c~~y. ~f ;~~a~'. plu~ i~::.-h~rlfth ~rcri~' ~~r~mi»m inst;~Hntcnt~ fur hatard in.u~ance, plus un~-t~tielfth i~f ~~:irly rremium in~tallments tc~r m~~rtga~;r inc,ii:ii~~c. i! :,ny~, all a~ r~as~~n:ihh' e«im:~t~il i~iitiaU~ an.i ftonl - timr i~ timC h~' 1.CnC~ci t~t1 thc h;tsiti <~F :~ii~'S~nh'nl5 ;tnt1 hilli,:~ni1 ~~tt~unahl. ~elintil~t tlt~r~ol. : ~ ! hE,:l~unil~ ;h:~ll hc hr;~l in an inttit~itio~ti th~ cl~~+, `it: i,r~ ai~~~um~ rt ~+•hi;3i :ir~ imurr~f <~r ~uarant~ed h~• F=~~I~ra1 or , stat~ 1g~itc~ (in:lu~lin~; L~n~lcr if i rn~lrr i~ .~i~h ;ui inc~iluti~,n 1. t cncl~r .hal! :tp>>I~ ttie f=unds t~~ pa)' ~aid ta~c,, a~;~scmcnts, x insurnncv.Premiumc an~+ gmun~ rrnt-:. Lcri~icr ~i ct ' n~t rti:~rg~ f~.~r h~,l~li~~t ,,n~! in~ thr Fun~l., :ia~;~;y~~ii~g ,aic! accour~t, ~ ; or ve~ifying a;i~4 c~~~:ipiling i~ii1 i:<<tinlcntt anil~~i~l~. t~ri?~s. I ciidcr ~.ij: Itr.rr~,~+cr ~~,ttrt,l ,m thc i~un~ls and .'f(~j~ItC1i~IC I3W ~ ; {h:rntits l.~n~rr !u mak~ such a cltatge. ~Itc~rrr~~~,r and t rn~lrr ni:~~ a,~r<< in ~~ritu~~ a~ th~ tinte ~~f exr.tNii~n o( thii } \tc~rt~abc th.il interc.t• ~~n thc f't+iui; .hall h~• paiJ (c~ (~orr.~~~~~, .~it~l t:nl~.~ tiu;h actc.mtnl is ma~l~ t~r :+py~licah?c law . requirei Such iiitcr.~t to he paiJ, I c:uler ,h:~l? ni~t h~• require.! t., p.i~ li;~rr~~~tirr :irs~ intrtt~t +_srning, «n ilst ~~.:~tids. l.et~dcr . . sh;~ll gi~'e t.~ lt;~tr~~~?•er, ~~ithotit ~h~~r~i. :ui :ai~ciu:it :~~c~~~mttn~ .,i the 1=unJ~,.h~,«ir~g ~rc~lit~ en~) ~I~bits to lhc. (~t~nt?s ancf the purj~:sc` fur ~+hirh ~;iCh uc~hit t.~ lhc l~~~~t~1~ ~~as ~n.ul~. lSt~' i`umlti :1!t• E~2rilt;«1 :~cl:litic~nal ::;:?irit~• fc•r th~ iumt SLCUrC~ : h~• this ~fo~tgagr. ; _ thc ~~iii~iuni ol tii~ ~uncic h~ld hi' I:cn~lcr tuc~~thcr ~~ith th~ hiturc nt.~nthh i~~.l:~iltizct~ls of l~un~t~ },~y'ahf. pri.ir tU i thc s«c d.ites t,f ta~is, as~essmCnt., insuran~c preniiunt~ :!n~i ,,r~~~intl r~~n;., ~hall C~rr~tl Ih~ .~mtiunt requireJ tu p:iy ~~id tarCS. = ' ~ . - assessmen~c. imurancr ~ictni»~nti ,~~~d S;i~un~1 rcnt. .t~ t}ir) !:i11 ~Jur. .trch ~~rec~ ~ti,~li tx. :it 13orro~s~r's e~~ti~~n, cither t ~ promptl}• rep:iid to I~nrr~ucr ur crrdit«1 t~r [3~+rru~.er ~~s~ n~.~iittil~ in.1:~1lm~nti .~f Fuqd>. If the :in~uunt„~,f the 1~unds - held t;~ Lrndcr tihall nut br sutlicien! t~~ pay l:i~r,. a~sr~.,m~•nls, in.ur.~nre ~reii~+um. :~~i~t ~,[ou!id renls-as tl~c~' fali" due, . Sorro~~cr st~a11 ~:l~~ ti, L~n~ler any am~~unt +~ccc.~ae~ t~+ ma4.r ~hr ~f~t~.irr~cy ~~~ttiin 3t1 .f:~~:'~i~~iii~"tht iiatc ribtu:e is mailed ~ by I_cndcr to E3~~rrr«•cr :~yu~sting pa~?ncnt ~hcr~c,~. . _ Up~~n pa~m~nt in full .~f al! sum~ sc~ur~:1 b~ tt,i~ ~1~,it"~c~. ! ~n.t~r ~hall ~~rrni~~ti~ r~tun~l t~, (irrru~ticr :+n}' F~inds held hti• (.en.icr. If undcr para~raph 1S hci~of thr !'rupert} •~~I~! thr !'r~~j~~i~ i~ uth~rti~i.~ a~c~u~r«1 bs I.~n.i~r. l.en~ier ~ shail :~~~F,fy, nr. I~t~r th:~n immc~li;itrl~• pnur t~, th~` ~al~ {~f thr 1'n~~~rri} ,~r it, :,:yus~itit~n h~ Lcn~icr an)' f~ui~~is hcld by . ' ° Lenil~C .tt t;1C ti11lC .~j aj?~h~.111On .s ~t~~fU a~:9i~i~l lR~i' SUtI» ~i.ufC~l h1 Ih~> >1i~!li:~~~. . - - ~ -`'3.~ ~ipplirit~0~i of Pi~~nents. l'nf~:,`?~}~{~l~rilhtr 1~u• ~r~~~i.!cs utt~cr~~i.~• a31 }~.~~ntent. t~.~i~~d b~' ! rnder;unJtr the s. " Notc and par.igr:~pht i~:~qd 2 ti~re~~i~sht,U bc :~~,E,licd hp S'.cnctc~ fir~> >n ~T,;i~nic,it'i~t`.~in~+i:n;; j~a}~ahk t~~ 1 ctnlcr ~i1`*[3orrow•e[ -::und~rparagraph ~4 herec>f. then,to int~res~'}~:~~ahl~ oi~ thc `o'~•. th<<n t~~~t~~ 4~t'i~tCi(r:~i it! ll~e~\'„~~:':~n~! then to iAtc~C~t~a~nd principal t~? aqy 1~uturc Auvancr5. . ~ '.~t; , . , ; ~ , - ~ . ~ ~ _ , . ~i.. Ch:~rgec: l.ie~~s. Uufr~~µ'~r ch;,ll ~,a~ .~Il.~ta~~•.. :~.,rstn~:Rts .~n~i ~~tFicr tharR~.. flne, cm~! ~m~,~sitsesm :~t~n~utahle to ~ ~ I.f1C ~fU~Cf[~' ~t}ll~El I1111' ~il:it{1 ~)((Ji:I~' i)Yer tt~i. Mlcirt~.fLt. .i!l~~ it:~~~~li~~i~ ~~.~~'(11~t1I~ i~f blJ;lill~ fifilS..1~ aR~'. in.lhe ma~lter ? _ provid::i! unii~r ~ar,~~r:~pfi ~ hrreof or. ~i n~•t ,~.iii~i i~i ;u~h +l~.+n ,irr*h~ i3r~i.?~trr t~~al.in~; pa}ment, ~+hc;: dtte. ~9irec~ly. ta thg ' p:~}'e~ there„f.` gc1rra~tier shall`l~ionipily~ furiii;h t~, Lcn~l~r :?!i >>~~ticrs ~~C:,m~iunt5',iue ::;ider t}~i, p~;c~gr:sph. an~i,inifie event ' I3orro~ver shatl nizkc pay~meait dire~ ti~: liurrr,:~re' .hall j~r~;%itJiN•, 't sniicfi i~' t Ln~icr ~r:~~ti~t, c~:iden~~ng sucti `pa1'rhents. ' ` = Borro•.YCC Slt:lif pr~mE•t4y~~litic4t.~Fs;r ariv lirii ~.~hiih h.~• r~:uritv`,,~•~fY't}~i:~~t~irigai~: ~+ici~~iifcd. th;it Hnrr~~u•cr=cF;rl! not bC' ~ I rl'C~t11fC(~ (t~ l~+~if1;1f~C :i[l~' ~illi7 ~1~11 ~t~ {t~!1L; ,t~ ~?~`t:~~'.ti~i ~!;.ti~ ,:~;f~Y' l~ +~IllclY=' i[~ ~}:t' 41:l11}ltll( i~( :h~ .~h~lY:f!I~~fl 4CilllClj h}' . ~ SUi'fl ~il'R 111 :i Ill.lllfia'.( :ltiltl~I:ifl~t' ?tl ~.it3/~l'f. .fi.l~i fli c'+.`(f I.if1~I i1~11(l'~~ \t!lf1`~l~l] ~~'i. 1~: t~ti~C(2:I L'Sl?i~T~C:Il~llt i~~ ~:1~~3 iICR Ifl. • # ~ ZC~:I~ FIFi~~C~ljtllk;: ~~-~lti}3 L1i`il,iii_ ()fil~li! E~!:~' t'~1;.~:~~:ftt,t:1 ~li ~:i:? i~f~ll~il~i;i!f~ i~l ~n~ 4~f:~F~i,(I1~ ~~(,~:in~~ j~art ~h~reol.~ . • ~tlazard Insurinr~. l3o;r..ur, ~h:l~i~i.ii}~ t~'i ~:1?(1:c:.•:ni~ii[, 1?i~t~ ~~1~(Ilt~ ~~f~!iCi~att}r.~r~;.~~~1 i~f? I~1C ~~f~~~~if}• insured-. _ 3 . ' a~alnstlntis b)' tir~. h.it:lft~C IiiL'Ilf4~~t~ .~ithin thc trri~i ~~+~!~•::ci ':•~;~•r.~3r":'.in~ ~u;t~ ~iihfr l~azardc ac I end~r~may reqiiire an~i i~ surhamuuncs;~n~l f~t~:su~h ~~rrii~~; a• i~siiti~s s~s.+~~ f<<;i~rr~i,,r~itiid,,!:Ih.tt i~ri~~!cr~;hall nc~t r~.~~i~irc thit'Ihc ar.t~unfof. , . - ~ - SIICf] tl~~'l~:ll;l' l\tl'l'(+ ~~1:ir :lfi~l~ill:( i~~:~,t.i;',' fii~ltlli~~ It~ t~.l\ ,~e~ ?tl;li? ' •.'~III~ti 1f1~: ~ft~i11:l4;1 ~ . ` "I~he ~nsuranr~ _-:~rrrr ;~r~~•.idin~ ~hr in;ur.~n:r .1±.~lI !x: ;:h~+;rn t,~ li~~rr;~:,;•s :nhj~ct t~ aopr~,~al b}' l.en.ie~; prov~ded, tnat such appru~~a{ :iia{{ nvt b~ ;~n:~.~~una~oi~ ~.ithhclJ r~lt ~,r~ne~~~m, ,,ri in~us:uicc p~~li~ies shall tie;.p3iJ in thc manner - pro~~ided i~nd~r p:iragraph 2 hcccu~ ur, ii +~vt p.:i~l i» .~;ci, nr,~i~icr. h~ F3~~rru~.~~i mak~n~ pay:nent, ahcn dac, tlirectiy t~ the , { _ ii~surance c:arricr. ~ ' . ~ . :U! in~usar:c~ ~13I1411~ an~i~rcnc+?;,h tt~cr~.~t chalt t~- ~n torm ,,rcrp~:~hlv tv L~~~~icr .,nu shall inrhi~lc a ctan~ard ~nortgage It , 3 rlause in favar c~! an~f ~n 1~~rnt ai~~p~,~hl~ tu t..~F~dre_ Lcncirt ,h.~fl h:~.r ttrti ri~ht t.~ hald ~he ~ti~lici~s ~nd renewals tht;rcof. ~ and Borr.~«cc ~::,t! pr.~m~~~l} fi~tnish tu l.ris.ic: al) r~n~~.~.it ~is>t~.~, :~ii~t :a:l m.eis~t, c~t ~aic~ ~rcntit~rn,. !n th~ c•:cnt o[ lost. ; ; 13~u:i~:+er ~h:;;' t.:a~r,iEit nnh.~ t~+ Ih~ ;:c,u~.~n:r ~.~rrt•r i 1 ~!;;':Li r:~.e~ i~.~l.r pr~:~~t c~f fi~s~ if nul m:?d~-(+t~~tnrtl}' l t b}' Barrow~r."• - ~ ~ Unless l.end~r an~1 B~rrcm,:: iilF:cr«~~4 ~grir in ~+n~u~e, incur,o~:,~ ~~n~i~td: sha11 ht ~~~lted 1n rctt~~ratien ur r~patf of '~fll' Yr,~pert~ l~:illl.i~lll. (ife~vt~ll;t{ 11ti~1 ft411~!".l!lt~tl t~( Sti-~1;ItF t~ tC~~'tl~f?'ifi,t~~l= l~.l~lf)~~• ;til(~ ~f1C ~iCti11f1(t' t)~ tillS ,~tortgage IS~ ~ not ihereh: impeFr.~~ If ,u•_h rc:tur.it~~=:~ e~r i~4~.~r; n,•t ~,.~z,,~.s}is.,~ii•. ':•.~:it-=1c ~~r ~f-~hc sl°curitS~ of Ihi=. \1~~rtg:,g~ t~•ould ~ bc ~otpaired. tt~~ ;n,:;r:,n.c pr~~;e~~l..>h:ill br .~~~~~ii~.l t~7 thr .i~n~, •r~i:rrJ i~y t!i„ ~l.~rtg;?~e. ~.~+~h :i,t~~'c~::ess..iC eo)'.-p2id ~ ~ 1o I3nrri~~tcr 11 !h: I'rvf~er~ti i, ,~4-~::~~J:~n~~! 1~:~rr:~~tir. ,~r i- 13~,rrt'ti4ct l.~i~, rr~~~~:~il tt~ 1~iid~r x•tt~iin 3b da~~ fcom the ; . ~1(C .,(~It~.:~ t:~ n,..~i~cS i~~ ~,C1~~'.~( t~~ ~jViti~iti~t ~t::ii 1}i. ifc~!lf;~n~: ":~:Irif i+i~~',~ i~~ ~i~tt~t' .1 i=.~1l11 f~~r ~i~,urancc: ~7tiItCflti, l.cnder 1~ .lU1f1t3T1/ttl i~~~~t:l -flll~ :Sjlil~~. (~j~_ llllllC,tit~l '}~i~":~'~~~~ ~.:iti~Ci ~+~~li+~(1 '.'S!s:~:F It) Il'i[t~f.IJIOi~ i1J !l(1:l1( l)t t~1C ~~f(1~`!'t) i ~ + ur tc~ .hc ~ui~i, .L.urrcl ' ~ :hi, <f„rt~acc _ ~ ? ~~siic:. i.rn~l_r ,i:~ci tirrr~,urr ~,t#~c~~..i~r .,~r<i ~n r:[n:, . .~r.~ ,:s,ii a;~j~1i..lu~.:: ,~i tu `t~ncipll ~h_tll net cttena t~f ~t>>l~i'I1i'•iFl~ t~~ti ij.li~ l?f Ifli Ifli~llt}1~\~ ii1.I.i~~S11;::l.~ :,.:'(i:t 1:` i,~ r~.);.~Li.f~l~?~ i.:71i1 ~~;~fi~~I ltt.til,~ t~lc ~am«unt Of - ,~t~h in•.tal`:n~r~~t, (t ~iit~t~~ y~~r:~!zras~!! t~ l~e;~:,; ;t:: !':,~R:ir ::,,:~s;c.~ i.~~t.trr. .aiE n~~h,, t;t'~ :~ri.f i~~terrst of f3otrower' - :f3 .f(ll~ :t1 :illt !Il~!If.ltl.:~ (1t~aliiC~ .:il~j ;tl :~t7:{ tE~i ;~t~~.•,'i~1. !It:i~.~I i~~Li;:.;iL ii.~i'1~ ~:+±ii,:it~lil 1}1t ~~f~~~1~~11 (Tr7.~f lil 1}lt' S3jC ~ ;Or acyuisittUtl ~f?,e~~ ():ii'> l.cE2e~~r Ei~ 1?~:. ~\t::ii! i,l i~:: ~!:.lle Sc~llit'.i I}~~~ ~}~~iIL':tL;i :Illtt'~~I;i.'~(\ f`!l~J: i~~ StSCfl ~:f~t; Of ; acqtsisit:~tt. . - , . - - ~ - ~ . . - ' - ` ~ _ ~ : Fi. ~st5~rc:Uiu,t~aud~~fainten~h.e uf I'r~iprrl~:•Le~+ehnl~ts: Cunit~,mi~~i~un~: 1'lar~nc~i~[;fiii i)c,elopnrcnts: 13orrow~t ~ ~ ~n.sfs krtiF t}i~ 1'rupcrit' iii ~;u~~d r~~~air :,n~ .hail trti? ~~~s;?n-~if ~.t~ ;~r ;.rm :m;~.,:r~jtc~„ or ele(crior:ilsun of the Pr,~pcrt}' ~ .a(1(~ 511~.1~~ lt~t11~~1',~tl({? Ife~ ~[t?i!i:~)I?S l~t .,fl~~~. ~l':f)C 2~.1f1:~ i~~t?fl~',,i~~ I. .~{l i~:tti~~l~.~:t~. {S iF11~ ~~i~(1k.34~ 1~ i+~] ,t lifill ifi 3 ~ iClllJ~~minritn~ ~~~r :1 F~~:ii1(tt'lI i!Titl ~t~:t'~~`fm~~nt. it i-r=:~.+~r .}7.l~~ (h~f~i+'11;. .i~f i~1 ~3i~?(~+tt~f ~ likal<<?IlS tl':tic•I I~:C .~iCi~:1STItt)T? - I ~ or ~vr•enant~ rrc.~ting.i~r ~ovcrnu;L ~hr ~ond~~n iniur:~ , ; . . _ . u . . ~ _ ~ • , ft1.~+~n.~d ~ui:it ti~~.clr~jr.it~.~~, th~ 6}~-I.t~~. .~r.J r~g~:!ati;}n; of the ~ 1 ~ ~i~n~ottuitium ot planne~l unit J+.~~cl~s~•~n ;~I, aaii ,~~:.tit{;~~~; ~Icicum~rt• iC i`~~ti.i,,ni~aium ~~r rl.tn'.tied s!ni! ~;e~elaprrtent - niier i, ~ye.uirel by~ Bon~~urr ane! r~•}or~tcd lt>~r!t:rr °.itt; th4: ~1~~st,:.,sc. th~ co•e?~.~nts ind a~~r~rrmnt~ of such ri~ler ~ shall Fc ~n~urpi~r:i~e~l i~:ti~ :int! ~h,i{i :~m~nd .~ntl ~t:pF,i;i:t~n~ !f:~ i;~?~~n:stitc ;,n~l :~~~rntcnts ai ttt+; ~S.~rtg,~y~~ tf the rider _ # _ - u~rc a part h~rcof. . ~ ~I~ 7. Profecison uf I.cndcrs S~rurily. If B~~rrr«~r ;,~~I; t~• j~rrf,.rn~ t-he co~•er~:~n~s .ind-:ig~e:nter~ts r~ntained in this • ~ ~iuregage, u: 'sf an} action ~~f pr3c.e.ling c!~~timencecl uhich matcriall} ,;iT~rts l.tn~ler'~ int~;rc••~ in the Propeny, = including, but siot ;~rnitcd to, tmi?icnt domain. in~c~l:~cnc~•. cc~dc rnfc~r,entcns. ~~r .,rr:~n~cmr~ts or pnke~d~ngc invol~~ing a . ~ ~ bankrupt or de~~~ent, :hen Lerider at Lender': uE~t:un, u~,~rz nt~~ice t~~ B:~rr~~~+er, m;~ nu,ke such ap~arance5, disburse such ~ - sums ar~d take. sueh a~tion as is ne~e~sar}• tn rrotect I.ensce's ~c~t~ress, i~icluJirg. bu1 not limited t~, disbuf~ernettt of reasonable attorney's fces and entr; upon thc Prepert~~ to n~.~kc rcf a~rs. )f I.c,~dcr rcquireJ mortgage insurance as ~ con3it"ion of making the loan secu~cd by~ this itortg.~ec. f~orro.~~r ;h~s1i pa}~ thc premiwns required to maintain such - insurance in efiect until such timc as the reyuirrment for ~uch msuranc°c termi.3ates in accardance with Borrowers and - , y • - . ~~i~G~~~ # . - - . ~ ~