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HomeMy WebLinkAbout0955 t i- ~ # I'~ ~ ~t~~~~ ~ ii'~ # c.. ~ f I I.ender's ~ttiUea <~gte~mcnl nr nppiirahl~ 1;~~~ lii~tr~~~r; •.tz:~l~ ~t~~ :,it~~~~~i~t i~f :~!1 n;oi~b~;~~ in5urancc ~sr~ntiuttts rn thc* ~ mannCr pro~~idejl unc!~,r paragtaph ? hcrrof. f An~' artAit.1ls ~';~~n;~s~d •h}' ~ en~ler r;n.i~an: tr t}iis ~,:~r.~~;raph 7. Ni1h intcnst Ih~rron. t?ta11 hcr~~me ad.litiunat in~i~;htedness ~jf tiur~q~~~~ scc;irLd h~• rh~, \t~,rt~:~~r l'nlr.. I;~~rrr~~cr a~~cl t~r~~ler. a~rc~ tc~ ~the~r ierm~ ~f ~a}ment. tuch iri~oimts,hall bE ~a}':?hlt t~~~:~ri tu~tir~ fr~}m 1 cridc:~ tu Rurri,~~~r ~~•yuc.tin?~ E~:,~mrnt th~rcuf. ancI .F~all hear intcrcct frc~m ~hc dale of di~huisement al thc r-it~ ~~a)'ah~e fr~,m Iintr t~, tim~~ un ihlZ~1;3!11~1I1C ~~rinci~~al under thc Ne~te unlecc pay'ment of inter~.t ~t suc~t.r`1to;~~u1~~.tje.coMr~r~' t~~ a~~~~{i~ahlr t:~~~ in ~~hi;h.rrent ~tich amn~!n!c ih:~ll t•c~r intcrcct :at Ihc highcst ratc pcm~issihle under arplic,abl~ la~~~. Nuthing ~.~nt:iincci in thi~ }~ar.igr,?ph 7 ~hal! rc~~uzrc i ~nd. r tc~ inc~!r an~~ rxpcnse ~r takc anj~ action ~~crcundcr.'~[~~~* , , ~ 8. Incpeclion. I.~tt~1~fl?TM;~c ~~r causc t~~ hr nt,;d~ rea~nnaMr ~ntrie. u{~un ar.d ircr:~tii~m ~~1 thc Prc~pcril'. ,~rrn•idccl . that I_endir shall ~;ivr i3vrro~ccr ncitic~ prinr to an~• ~u~h in~~-~ctir:n ~~,e~i(}ing rc:~s~r~~hle caut~ Iherefi~r related to I.ender's interes~ in the Propert~~. , _ . _ ~ . 4.;~Condemnation. Thc prc~cc~d~ ~f ;~n~' a~~ard ~i~r claim fo~ cli?m~cc;. direct or cc~,n~yiicntiai. in conncctio~ H~ith an~~ ~ conclen;natian or other taking uf th~ Pmperty. ~~art Ihere~~f, i~r (~~r c~~me~•anre in li~u ~~f cc~ndentnation, are herehy a;cigr.eci ~ and sh:~ll bc pa~d to l.cnder. ~ Iii the event ~f a tolal ~akinR a( thc Pr~~~~~rt~. !he ~,n,rc<<k .~h~il he a{~~,lic~l t~. the ~innc ~ccured hy thic \1~rtgage. with the etcets. if any ~+a:ii !o Bi~r?tnr~r. Tn the ecrnl s partial taking .~f ~h~ Pr~~rert~' unle~e }3~rro«~cr and I.e~:3e: j otherwise agree in writing. therr shall ht applird thr ~u?ne tier~irc~i F~~ thi; :1t~r~cae~ au,h propnrt~~n .~f thc prcxeeds ~ . as is cqtial to thit. propc~rtis,iz ~tihich ~hc :IT11l~1U11 .~f th< <urt~~ .r:u:c.3 t~~ t'ii; \1i~rl~.~g~` IRlllll'(I18ItI5' (~Yi:~f t~~ Ihc,~atc of i l2king t~ears to !hr fair market vatuc r.; tfse Pr~~~.rs tti ~rr,n~c.i~atel~~ ~~ri~~r t<~ t~te ~!.~tc nf t:~kinR, i~h ti~c h~1an.~~ of th~ pr~teeds j ~ paid to ~3nrm«•er. _ : ~ j ~ , ' li the ~'i~p~rty iz abancioned h}• I3L~rr~,urr. ~~r iC. ,~Ftcr n~~ticc h~~ l.encier t~~ Rt~rrc•.~ser th1! thc condemn~~r i+fT~rs t.~ make ' pn a~t ~tii or.cettle a ~iaim for :l:~mae~,, B~~rr~~«•er f:~il. te~ rr;E~.~nd t~~ I..n~ler ~i ithin 3~ ct~~~c after the date stich m~tice is s maii~d, I_ereder ;s aut~iorized tu c~llcct and a~~pl:~ ihc ~ro:ceds. at T.cn ~er'~ ~,~,~~~n. cithcE~ tr restoration ur repair ~f the ~ ~ <Prop,°~ty or to tftt'sums ~~cureil h~' thi` titurtcage. . € Unlcss T;ender and Borru~ti~r othe~:~i.r :~r~r i~~ "rilin_. an~ ~u:F~ :~,i+ f~t.iti~~i~ nf ~ro~c~d~ to ~~i~~i~:,l SII:III not extend • i ~ or ~st~onc th~ due date of thc m~~ntf~h~ in~tallmr~~ts rrfrrrrd to i~~ ~~ar.~gn~E~h: I and 2 hcr~? c~r chance thc am~unt of ~ such instsUrncnts. ~ . 14. Borr~??er No1 Releaced. P~te~~ci~~n ~•f the tii:it• f~~r ~~:~~•menf nr mrdific~tic•n am~rtitation nf the cumc s~cure~d b1' this Murte~:t~r Cranted h} I.cnit~•r t~, an~ ~u.~c;",r in intr~r~l E3t~rre~~ter ,h.~l! n~t iT~~yfatC~b' ~elease, iit any manttCr. • tne li~bilit}' nf thc ori~inal. R~~rm~ti:t :ind 13t~rrrt~~r', ~u;4r,~:~r~ ~n in;i•re:;. l.cn.ier ~hal1 n~! he reyuire:l to commence ~ - proceedings ak:iinst su:h su~ces~nr nr. refi~:e t~ti e~i~n:l timr (or paynt~~ii ~~r. othen~ i~e mpcfiJt~. aninrtizatinn of the suins ~ sccurd b~• thi~ \l~~rtga~c h~ re~s;~n c~f anc dcrn.~nil ttiadr 51 thc ~~ri~;i~tal l3~irC~~~.~cr ancl Bc~rru~•cc'~ ~ttcc~t~t~r5 in intCrC~t. t I1. Forbearance bt i.ender \ut a~1'ai~er. ~n, 1~•-~,tgr,~ii:c h~ (.~•ndc; in c~cr:ieine am• ri~iit nr rcmedy h•.reunder. or ~ , i~lhen~'i,c afTurd~~1 ht' a{~(~?i;:it+l~ I.i~~'. SI13IE n~~t h~ .i ~t~:2i~cr i~f rr ~re~_1zttle th. c~~r~ise rf ;n~. .u~h right n*. ren?edy. ~ • The pro:ur~rtiznt clf in.ur:iri;c e~r thc E~~~*.~~cnt i~t t:~~~~ .~r ulh~~ ;ien. ~~r ~Fe;rLe: h~ T ender ~,h:~ll ~i~~ `~c :i ~ti;~iter nf Lender's right ta accclcratc thr maturi~~• ~,f the indchtrdnrt~ c~:~~ircc) i~~• \t:~:tc,~k~r. ~2.- Remedies Cumulali~•r. :1U remcd~c~ ~T<<~.i~lcc~ in thi. ;~t~rl~ae~ ~rc cii;untt and rumulaii~•c tn ant• .~thcr right . reme~t~• uncicr thi~ ~t„rt~;.i~r ~~r afT,•rei;:1 h~ 1.,~. r•r.«~uitti :~nil ma~ f~: e~rr~i,c,1 iuti_~urrrnlh. inilcE~rndentit~ ~~r succe:si~•eh•. - l3. .Succcssors and :~ssiQns Bonnd: Juinl anci Scseral Cia~hilit~; ('aption:. lhe c::~nantc and a~tr~cmcnt~ hcrcin ~~l'i?(t~aE(1C~l;hal! hin<t. clf1C~ 1}ll' R~}lli }?1•r~under ~i~;,it ;tltlft 1~tC Ii~rt~htii ~U:i~~:~•;-\ At~C~ :I~ili;fli ~,Crt~CC :tfltl~BOr~~Ci~4'Cr. suhject Fo thc pre~~•ision. c,f ~~:ir:;crarh 1? hr:r~,± ~\II eenen.~~zlt :~n;, :~,'r~cmenh nf RC~~rt~~tC~ sh:,ll Fc i~~int :ii~d several. , The ca~tions ar:d headin,; nt thc ~~araer.~~h~ <tf t~~i. ~fr~t~::~t :~r. f~v ~c~r~~•cnirncc c~nl~~ :~nc' .ire n:~t t~~ hc tisec! to 1 internr~t .nr ~9efine thc {~r~~~ici;,n~ he;z:>f. = . _ . ~ . '\otice. Ek~cr: Fc~r ant~ t~~~iiic r«~~t3rt'c~ ~!tt.~t't :~~(~1~::~~~;i' l;~;i 1~~ ~i' ~'!tic'n :tt :llli~l~<::f manr.c=. (a) :~n1' notirc I(1 ~ Burrouer t ii~\'i:IIU ~etir in thi; 1f~}rtea~~r thisli hi ~~i~~rn h~ n~.;ili+ii •;~:h i~"~~cr h~ ~ir;ifiec! rn:ii3-:~d~ir~;t~t1 t~~ Rorrttt~~er at ~ ~ ihc Propert~' A.ldte;c iir at ~~;.h i+tli~r :i~1d:r.: f3.,rr;,~~rr ~n:~~ di•~i-L~:~t~ h~ n~~:i;e t~~ I in~le' :ti~ (~t~~vi~ied hcte~n:. and. . (h) ~n~~ notice t~~ Leniler s}~al! h~ Li~~n ~~•i,ili<<1 m.z~l. rrti~r~~ ,~:~i>>t r~~~;i~c~tr~l. t~, ! cncler'~ ad~lres~ sfatcd h~,.'ii~`.:r' ~O S11C~1 (?i~lt'f 3(~(~ItSS :li l.l'lli~~f ill::\ l3CCt111:11t il:~t~:l' 1~~ E;t~:!~t'.l~f ;1S E1i.~1~Il~ii~ ):l'f~l~l., r1tl~~ Ti~~liC ~f:1ViL~iti SC1f I~) ttlli • - \fortgagc: sh:i!! h~ decmcd to t?a~~ }~rcr~ L,~cr: t~, R~~rra,.,~rr rr I rni~er ~,i,cn e;~~•n ii, t~;~ manner designr~ted herein;'- 14. ~.'niCorm ~t~rlRay;e: ~.~~t't'f(llfl{~ ~.:ltt: 5eii'f:lfll~ll\. ~}ii~ f,ifttl ~~f.llit~ft~~;f~~ Lnmhines ~~nif~rm cnvenantc Enr n.~tipnal ~ ~i$C 3~11I non-unif~~rm it~~~t'.I13111ti `.tll!1 ~3lli!;t~~ ~:![!1(1~]!!] jli;ll ~~:t2i~T1 {ii ~t~li)I:II!ll 3 Uf11iD(Ili SCCl1iItY lilltfllftl('f1I cove:ing~~ real pro~-,crey. This ~tor~gage sh::li bc L.,;cim,!'•ti thc i.:, ~rf ttic iusic~ti~ta.~n in ul~i:b~tf~c Prop~~rt~- i; i~:~~ated: _ 7n the ~ - e~~en! th3t :,n~~ pro~•isian ~r cta~~te nt t'r,i. ~i~:t~:a c,~r tF. ;~~ntli:tc .~ith~ appEi~.,f~lc,l:i«;~ aeich ionflici sh~!1 ~ot a(fect i oihcr p:.r.i~ic~n~ o~ this ?~i~~r[ea,~c ~~r ih: '.':i~tt ~~h:.h ::~!s h; L,~Li} `c!?•c,i •.z-,'+.ht~tit thc ~cint~iitin~ ~rc~~•i~i~t~: and to Ih:i 1 e(1l~ it]C ~It~ttSln[lC t~f fili' ~f~~itLai'i ai~i~ 4ttc' 1~~i~_ .~fi ~I::il.~f.i~ t,~ •,C~'tf3~}t. ' 16. Borro.rer's Cop~. iiorr~j•~r~ .iia(t ht fur~u~hcJ c~,nfurmcd .~~pv c~t~thc :~'o~c~ ~nd;of tF~it ~ic~rt~;ag~ at'the timc ~ ef esecution or after:rerordation c~r~c,i.- - ~ ~ ` - ~ 17. 'i'ransfcr of the Prnpert~: ,~s,umpt~on. all ,Fr t~~? :i;c Pr~,~,crt~, i~r an inicr<<t tt~c:~in i~ ;~~ic~ ar transferred ~ - b)• Rorrq~er µ~ithc~ul I.4ndcr's }itior ti;ritt~::~ ~.~r.ctnt_ ~~~~~i~linti (a) ti~; ~r~.~;i,,r t:f a Lcn +~r cr~nn~hran~c suhonlin~t2 to th;s'~lt-.`.gagc. fh; tlie crcatinn nf rurci~,::< <,~,,~,~; ,~ci,rit~ interest t~~~ Ii~,u~~h~~i~t':~~)~?i;~n•,t;. !ci tr3n~fcr h~' devisC. ~ de~c~nt or h}• operation ~f la~.} upc~,^, !hi c1L:,t}~ j;,~nt ?en.trtt ~,r i~±~ ,tr, <.ia;~t nC a;c: IC:t~ihi~tc~. ifliCfCSI i~t th*~e ~C:!!c G~ ICSS i not cont3i~~ing an opti~n tn ~~:tr.hase. 1 eti:_tcr nt:+~_ i.rr~c}rr', r~,t;,~n. il~,l~rc :i3! +.hr ~um~ tie~itrrd h~ tli~s :'.tortba~i ~o bs. • immediatelt' duc ~nd patiahk. I rrid~.r ~ha~l h:t~: i~,,~~<<i .~:r~ n~!~c~;; t~~ ~~ctter;,te ii ~,~;,~i i, tl;c ~:ti, tr.~nt(tr, l.cnde: _ and ihe persc~n [o u?ic•m the P<<zpe:I}• i: tv be .o?~l rr tr.i~l~iLir~'~; c~a:i+ ,,.r~rmcnt tn ~ir:::~~: th:it tf;i .rcf!it ~t w_•h petsc~r ~i S~tiSf3CtuT}' tc~ 1.Cnc~er anc' th:it !}~e intc~i~l [~:1}'tt{~~~ ca:~ fhi ~t!n~~ >~•i!itccl !l~i. ~gt~r!..t~C ~hitll ht• at :3r.h ratc r,t i_end~r shall ~r~quest. lf l.ender h~c a•aiti•e=) the ti.~n t~t ac~cli•r:et~ }~r:,rieIe~l :n ttei5 p.~;,;cr.i3 n 1%. at«f 'i; 13n~r<n:er'~ ~ucc~r;;t~* 'sn i interesS bas_exece~te~! a ktilten assum;;~ior~ akreemer~ acc~nted in urilini: h~• Lenci~r: ~n:ier S~ia11 relc:f~~ I3~?ir~~uer from all . : _ : . obligations uncler this Mortgaec and t~~e ~:~te. - - . . . _ . - . . ~ , ~f ~.Cii(~~: C!Lt'filc~r S13~~1 l~~?lft~fl .t~l'C~Cfa!C. I.Ct~.~is ~f1:t~E tll:~it l3nrr~~:+c; t![~It.C (~i :1iCCjCf:lttl~il Itl ~CCOT(j:1f1CC ~Wl~}t . Z . nar~graph l4 hrrcof. Such noti~:• sha~l pr~~~~iJe a~rirct ~~f ni~t tcs= tha:; 3f1 da~~ti f~~~m the datc ihc notire K n~aited ~vithin ~ H'~1ich Borr~«er may p.!ti' ~(1C Sll111~ l~f~~:1C1't~ (~=f~. E3~~ft-i~'.tii7 ~.t:~. 'lt ~'~.4:. ~is;i? ~e!ill. ~ iit~~i :if 1'~~ i'~[~li.ilt(`~ t~f Sl::}i ~~fi(:•Sj. r Lender ma}~. ti~ithnut ft~r€trer r.~,tice or d~manc? ;•n (i~,rr,,,.«r. in~~c:l.~ sn', rCnlcdiCS n~rrnrtr:l h~• ~~raer.:ph tfi hrrcof. NUti-t;`irox~t Co~~~:~:.;~75. 2snrr~v:t 2na [.enuer 111f1~1tf ~O~Cliltl[ an~i agrec as folto~~s: . ' . , ~ •!S. Acceleratiun; Rcmedies. Excepi a; pro~~dcd in paril~raph 17 i~ereof, upun R3rrotirer=s breach of an}• roEenant or aRreement of Borro~+er in fhit ~iortga~e, includin~ the c~.enant; to pa}~.+rhen due an}- siuns sec~,~ed hy ~hLs \tnrtgzge, Lendc~ • _~rEor to sccelernteon slia)i mail notice to BorruHCr a~ pn~.idrd in naraRraph i4 heteo.'specif~'tti~: (1) tfie hr:ach; (2? the actiun ` require~l to cwe su:h breach; ~(_l) a date, siot l.ts than 30 ~1a~s fr~em l~ic datc the ~tivti~e is mailed to I3orroHer. •by ~rhich.saeh ~ breach mas! be c~re~'; and (4) that fai~ure la cure su:lr ~resch on or beforc the date specified-in 1he :~otice may result~in - ? acceterateon of Ihe sums srcurrii bs lhi~, ~toi-t~:~~e, forr<)nsurr b~~ judiciat prnreedin~ and sale oi the Pr~pcrYt. "ilie notice shall_furiher infprm $orro~ct c~f lhr ~iKlit to reinState alfer ~cceler~tion and li~e.ri~hf to acirrt in Ihe forectosu~e ~raceeding ~ the n~n•e~isteitce of a detault or any olhcr defcme of Borroxcr to ac•reicration and foreclosure. 1f the brtach is not tared on or !~efore the date specified in thP notice. I.ender at I.ender's option m~~ declare afl of the sun~s sccured b~ this 1lurtgsge tc be - ~ immediatelj- duc a?,d~pa~ebte Nithout further demand and ~na} fnreclc3c ~his 11~rtgage b~' je~dicisl ~,ractedin~; Lender sha11 ~ be enfitled to callect in such ptoceeding~aii exppnses oi forecloswe: inrluding, buf nut limited to, reasanaWe attoiney's. ftts, and costs of document~ry eridence, abstracts and title reports. : - - - ~ ~ ; 19. BorrowFr's_ Right to-Reinsfate. tiotN•ithstanding [.et~ {er's acceleration ~~f the sums ~ecureJ by ihis :~fortgage. Borrower shail havc thc right tc have any proceedings begun h} Le~d~r cnforce this :~tor~gage~dis~ontinueci at-any time , - . i; ~ ~ _ - ~ . ~ ~ ~ - ' ~ ~ i