Loading...
HomeMy WebLinkAbout0959 ~ ' ~ ; I 1 ' ' . . . ~ t l.cncl~r's ,ti•rittcn a~rccnicnt or ap~~lirai~ic l,i~~•. ti~~rm~~~r shull f~a~' thr ,un~,~uit ui a4t nu~rlgagc intiur.+~icc 4~r~t?iit?ms in ihc m.innrr ~~ru~~idc~l undcr paragraph 2 hcrc~f. An)' .~mounts ~lish~irsc~l h~ l cn~,_ r punu:int tu Ihis ~,:ir:~~ra~~h 7. ~~~ith inlrrest thcr<<m. sh;~tl hrci~~nc aclditic~n:~l in~lcht.~{nr;~ uF lic~rrt~~~rr se~ur~d hy Ihi~ ~11ur1~,as;r. 1'nlc.~ 13c,rru~~~r an~i l rntlrr ac~rcc tc~ ~~thrr Irrntti ~~1 payment, ~uch ~nu,unt..h:~ll hr {~a)'ahk up~,n nu~i~~ frc.m I.~sldcr t~~ 13t,rr„~~r~ rtyur,tin~, ~~a~•mrnt thrrr~,f, an~l ~hall hr:u intrre~t fr~m thc ~latc c~f ~ii~hurc~mcnt ,it thc rat. ~~a~'ahlr fmm timr ti~ tintc un ~iutst~nding principal undcr thc N~~tc unlet. paYmcnt of intcrest :it such ratr ~~~~ul~l hc r~mlrar~' 1~~ :~~~~,lirahlc l;i~~, in ~~I:i~h c~~cnt s?i~h amuunts shall hcar intcretit at thc highest r~tc ~nrmissihlr unilcr ;~~~Eilictth)c la~~•. i~'~~thin~; rc+ntainc~l in thi` E,;ua~r:iE,h 7 sht~ll rcyuir~ l.cn~tcr tc, incur any c~~~rn~e or takc un)' artion hcrcundcr. . R. Inspcction. Lcn~icr ma~~ maF.r ur r:iu,c !i~ hr ma~(r rc:~~anahlc ~ntric~, u~~,,n :+n~l in~{~«ti~~nti ~~I thc Yru;~crty. }~r~~~~i~icd that l~nilcr ~h:~ll ~;i~~r I3~~rru~~~rr n~~licr ~~riur t~~ an~• tiu~h inti~,r~•ti~,n ~,E,~rif)'int~ r~:+ti~~n,il~lc ~aii~r thcrrl~~r rrl,~Ied t<~ I.cndcr's int~r~sl in thr Pfc~~~crt1'. ~ 9. ('ondcmnafioti. "~he ~~r~~~rcit~ ~~t' :im~ a~~;ircl vi claini I~,r ilam:~Lr.. .iir«t rr c~,n.cqurnli:il. in ri~nncctiun ~~•ith an)• rondimnati~,n c~r c~th~r takin~ ~~I th~ 1'r~,~,rrt~•, ur ~~art thcrr.~(. ~~i (.~r ~un~~~}~:~nrc in liru c,f c~~nclcmn:~ti~m. are 1~~r~h)' assis;i~~d anJ tiliall hc ~~aid t~~ I.cndcr. ln ~h~ c~'inl of a tatal t:ikin~ of th~ Pr~,~,rrt~'. ~hr ~~n,~rc~1~ ~h,ill hc :i{~riir.i ti~ thc .umti ~_~rnrcd h~• thi~ \1~~rtga~c. ~+~ilh fhc i~~c~s. if any. ~~:~itt t~~ 13urn~~~•rr. ln Ihc c~~rnt ~,1 :i i~:irti:il t.~kin,~ thc Prci~~crly'. unl~;c [3orrc~~+'cr and I.cndcr i~ther~si.c a~rec in ~~~citin;,. thrn sliall hc a~~~~lie~l tc~ thr ~um~, ,rcur~~t h~• thi~ ?~ii~rtg.~RC ~urh ~~rc~r~~r!ion «f the ~~roceeds ~ :~s is ~yu:il t~~ Ihat pm~~urli~,n ~~'hich lhr atn~~unt ~tii thc sum~ ~r:~irrd 1,~~ thi. ~1~~rtg:~~c imn~rcli:~trh~ {~ri~,r t~~ thc datc of t:~kin~; hr.~~~ tc~ thc tair ntarkrt ~~.+luc of thr Pm~irrt~' immcJiatrl}~ ~~ri~,r tc~ thr ~I;Uc ~~f takin~. ~cith thc h.~l;mcc ~~f ~hc ~~r~iecc~lc p:?id t~~ i~~~rr.~n~cr. If thr Pmpert)' is ah:?ttdi~n~el h~• 13e~rre~~ter. ~~r if. :ifter ni~tice t~~' i.cndcr ti~ 4~urr~~~~•er that thr condemnor offers to make :in .i~~•ar~l ~~r ~ettlr rlciiin f~~r ii,in~:i~~ti. R~~rn,~~~rr f:~ilti tr r~.~~~~n~l t~~ l cnctrr «~ithin ZO cl,i~~ :i[tcr thc ~i:iic such si~iticc iti ntnilccl. Lrn~lcr iti :,ut'h~rircd ti~ c<~Ilc~t and :~r~~h• thc pn,crrde. at l.cnclcr'ti i~E,tic~n, cithcr tc~ re~toration <x repair of thc ProE~rn~ ~,r t~~ Ihc s~unti ,rcurccl h~~ this ~ic~rt~:itc. Un;~s, I.cn~iri and {3~rr~~~~rr othrr~~i.r :~grcc in «ritiiif~. an~~ su~h :i~~E~lirati~~n c~( ~~rcirredt t~~ prinrip:il sh:ill :iot cxtcnd c~r p~~.tEu,nc thr dur ~i:~tc ~~f thc monlhl)' inst:tllmrnt~ rrCrrr~.l lu in ti~.ua~:ra}~h, 1 anci ? hcre~~f ~~r ch~?~~~c thc anx~u~it of ' such installtticnt~. 10. 13orro~ccr Not Rclca~cd. !:`!~nsi~n c~f tlir tinu f~~r ~~:i)•mrnt c~r modifir.~ti~~n of a?n~~rtiratian ~f thc sums sccurcd h~' this \t~,rt~~:~r~r gr.~ntccl h}' Lcnclcr ti~ am~ .uc~c~tii,r in intrrr.t ~~f 13nrrc~~~rr .hall n~t c,~,crat~• ti~ r~lcasc. in an)' m~nncr. - the li:~hilit)' ~~f thc original Rorra~~cr and [~rrn~~ti~rc'ti tiu«r;,~•r~ in i~~trrc,t. I.cn~lcr tl~all n~~t hc rcquircil t~~ commci~ci - ~~ruccc~lings a,~:iintt such sucr~ti~~r c~r rcfucr tu c~lrn~i timc fc~r ~~a~~rncnt ur c~lhcn~~i,~ m~~dif~• :~tnortizaticm of thc sums secur«I h~~ thic ;~t~,rtkake h}' rc~.r.n ~~f an~• deman~l r~ia~~ h~ the i~ricinal R~~rrr~+•~r :~nd 13urn»;~~r's St:cce,;ur~ ii3 interest. 11. Fort~carancc b~' Lendcr ?`iut ~?'ai~cr. An~• f~~rhrar:uirr h~~ L~•ndcr ir c~cr~ i~in~~ :~nc ri~iit :~r rcmccl~~ hrr~un~icr. ~thcru~is~ :itrc,nlc~i h~• applic.~hlc I:ti~~•. sha{1 sirt hc a a•,ii~cr u! ~~r }uccludr th~~ r~crci~c ~~f :~n~ tiurli ri~ht ~r remed~'- The F~ro~urement ~f inzurancc ~,r thr 4~.~~~mrnt i~f ta~r. ~~r ~~thrr lien~ i~r char~r~ hc l.rnder ~iia(t n~~t he ~~:ti~~~r ~•f Len~ter's ~ richl t„ arrclrratr th~ t~iaturit~' ~~f thc ind~htrdnr~~ .~=nr~~l h~ thi~ \fi~rt~a~;r. 12. Rcmcdics Cumalati~•c. t~tl remrciic~ E,n~~ iilyd in thi. \t~~rtgaec arr ili~tirlct an~l cumul:iti~~r t~ an~' ~,thcr right ~r rem~~i~~ i~n~lcr thi. 11ic~rtt,age or a1Tc,rdcil h~• I.~n ~,r cyui~~. :ui~l n~:i~ hr r~rrci.~it c~,i~currrntl~~. intlc{~cndcnth~ i,r ,uccc~ci~•~1~•. ll. Succcl~nrs and .~ssi~ns 13ound: .Toinl :uiil Sc~cr.il i.iahilih: ('aptinnti. ~Ih~ c~~~~:+:~nl~ :~ncl :Sgrrrmc~~tti hcrein ~c~nlai~ie~i tih:ill hin~l. :ind th~ rit;hts her~iindrr sh:~ll inurr t~,. thr r~.E~~•~ti~r tiu«~."~i• anel a~~ien, ~~t I.en~lcr :~~icl Bc,rrc~~,er. tiubj~~t t~~ thr ~~r~,vi~ion~ c~f (~ara~ra~F~ 17 hrr~c,f. .•~I! iu~~rn;~nts .inil agrcrnirnt: ~~f Ri~nc~~~rr ~h:~ll E~c juint and ~c~•eral. ~fhc ea~,tit,m :u~~i hcaiting~ ~,f lhc ~~ar:i,'r,i~h1 c~( Ihi~ ~1~,r1,~:,ti~ arr f~,r r~~n~•cnirnci ~~nl~~ .~n~i arc nc~t t~~ h~ uscd t~~ intrr, r~t c~r drtin~ thr ~ro~•;~iun~ licrec~f. 14. \oticc. ~~~c~,t fc~r aii)' n~,lirc rryuiri•cl un~l~r :~~~4~li~,il.lr I:~~ti t~~ hr ~i~~rn iiz t~r~~~th<r ma~iner. (:t) :t~i~• noticc tn f3urr~~~+rr E~n+~•iclyd f~~r in tltis :~t~xttia~c shall hr Li~~•n t~~, r.i:~ilin~ ~urh n~~tir~ h~ ~~rlifi~ti mail :u1dr<<~~cl 1~~ Bc~rm~~cr at thc Pru~,irl}' :~~1dre.~ ~~r at tiurh ~~thrr :uldr~.~ R~,rn~~c~r i~i:i~ de.i!~n:it~ h)~ n~,ti~e t~~ 1 cncier :~s ~+rc~~'ielccl h~rcin. .in~t (hl c?m nrtir~ te~ (.eixl~r sh:+l4 hr L+~~~~~ h~ c~rtilir~l m:~il. i~tun~ rr«i~,t r~queste~t. 1 en~ter'~ adiirese stated herein ~r to snch uthcr ad~ir~titi a~ I.cnclrr ma~ tictiiknate ht n~~Ii~c t~~ fi~~rrc,~+cr as }~rc~~•ictc~l hcrein. ~1s~~• nrti~~ ~~r.~~~idc~l for in thi5 ~t~~rtg~+gc sh.~ll he cleemc~l to ha~c hccn ki~rn Rc,rr~~~~rr ~~r Lrnder ~+hen ~i~cn in thr manncr ele~ign.~ted herein. 15. LiniForn~ ~Tori~:+~;c: Co~~crnirg L.i«: Sc~cr:~hilil}~. ~~~iti fc~rm ~~f mt~rt~;a~'c c~~mhin~ti unifc~rm c~,~'cnants fc~r nati~nal utic sncl n~~r1-unit`~xm a,~.rn:~nt~ ~~ith fimitc~t ~ari.~ti~~n. h~ juriuli~ti,~n t~~ c~~nstitutc a unifi~rn~ sc~u~ll\' IfiNfUflll'11I c~:•crine , rcai praE~rrt~~. "Thi. ~turt~;a~~ shall hc ~u~crn~d h~~ thr la« ~~i 4h~ juriscii~ti~tin in ~~'hich thc Pm~~~~rt~• s~ lucatrd. in the c~•ent ~hat any E~rc~visi~~n c~r Llautic thi~ ~ti,rt~,a~~r ~~r the \i,te ~t~ntli~tti ~~i1h a~~~licahle I:l~ti. s,irh ronlli~t tihall n~t atTect ~~thcr ~~m~isi~~nt i~f Ihis \1~rteagc i~r tfir \'citr ~+hi~h c,ir. t,~ r~i:~n c(Trc~ ~~i!h~~ul thc ~c~nllicting {~rc~vi~ic~n. and t~ this cn~i th~ Pr~~~•itii~~ns of thc ~4~rttar~~ and [hc \~~te arc ~icrl:irrd t~~ hc u~•crahlc. ' 16. iBorro~~cr's Cop~~. Borro~+cr ~,halt hc fi~rni~kucl a r~,nt~,rm~d cn}~)' ~~f th~ \t~tr :md ~,f thi~ ~fort~agc at the timc ~ 'i,. ~~f e~rrution c~r aR~r r~cordation hcrc~f. 17. Transfcr of the Pr~?pert}: :~ssumplion. i( a~l ~~r am {~art c~f thc Pmr~rt}~ ur :~n interc~t ~h~rein i~ s~~ld ~r transfcrred hr i3orru~ti~r «ith~~ut i.cnd~r's pri~~r «ritt~n ~~,n~rnt. r~rludin~ (:~i thr ~r~ati~,n i~f a licn c~r cnrumhranre suhardinat~ ti~ ; thi; \4ort~ake. (b) the creation e~f rur~ii:~~e nu~ne}~ tieruril~' int~rc~t f~,r h~~u~ehc~lil a~(~li.~nce~. Irl :i tran~fen c~ devise. i de:cent nr b}• e,reration c~f la~+ upc~n the ~Ie.ith uf a j~~int tcnant c~r (~ii lhc erant ~~f :+n~' leaseh~ld interest c~f threr }•L:irs or le~t n~t ~ontainin~ an c,ptii~n t~~ ~~urchase. l.enelcr m,~t. :i~ Lrr~cler'. ~~~~ti~~n. dcclare all th~ tiums secured h}• tl?is ~t«rtgage in be } immr~liatcl~' duc :ind pa}'ahle. L.ndcr ~hall h.i~< <ti:+i:rd ~.u:h ~~~ti~m tr a~rclcr:~tc if. F~ric~r tc~ !hc tialc or transfer. l.cndcr ~ . an~l thc pcrson tc, ~~~hc,m the Pm~~~r1)~ i~, t~, t~c tial~i ~~r tr.m~(rrrcil nra~h .~,~rccmrnt in ~+~riUn~ that thc crc~iit of tuch rcrson it satiefacton~ t~~ Len~l~r .ind th:it tltc i+iter~~t f~a}•.sbl~ «n t4~r ~u+1~~ tie~tired h~ thiti ~Tc~rtg.ige shall he at such rate as Lender shaU request. If 1_ender has ~sai~~e~l the ~~ption tc~ acceler.ite ~r~~cide~l in thiti r:ira~,ra~h ] 7, a~:1 if 13~~rraw~er's ~uceessor in interest ha~ executed a~crit~en assumption agrceilZCrt acc~rted in ~+rirng hy I.en~ler. I.en~ler thall rele.i;e Borrc~«~er from ali obligations unclcr this \iortgage and thc N~tc. - lf Lender e~erciscs such c~p4i~s~ te~ ac~e,er:~!e. I.en~lcr ~h.i{I m.yil {3orr~~~cer ni~tice e•f arceierati~~n in arcordance ~~~ith paragraph Id hcrcof. Such noticc sh.~U ~~rovidc a 4urri~~~l c~f nc~t lcsti than 3(1 dac~ fmm the datc thc noticc ntailcd «'ithin «hich Borr~~~~cr ma}' E~c?)• thc ~um~ dccl:+rccl difc. If [3orru~tirr f:iil, t~~ E~ay such ~nms pric~r t~~ thc c~pir:~ti~~n i~f ~urh period. i.cn~ier m.~~'. «~ithe,ut furth~r natice ur ~len~and c~n lie~rn~«•er, in~~nke an~ r~mcdics nern;iucc! h~• paragraph 14 hereof• E~ . - - F : ~ ?~'ox-U:v~FOtt~t CovF:~.a~rs. Borro«~er and Lender further co~'enant and agree as folloti's; ' 18. Acceleration; Remedies. F.xcept a~ pro~~ided in paraRraph 17 herenf, upon Borrower's breach of any co~-enant or agreement of Borrow~er in this ~fortgage, incl~din~ the co~enants to pay ~fhen due any sums secured by this i~forfgage, I.ender prioT to acceleratior shall maii noiice to Borrower as pro~~ided in paragraph 14 hereo[ specifying: (1) the breach; (2) the action cequi~ed to cure such breach; (3) a date, not less than 3U da~~s from the date the notice is mailed ta Borrower, by n•hich such _ breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice. may resutt in acceleration of !he sums secured by this ~tortgage, foreclosurc b~• judicial proceeding and sale of fhe Property. The notice shaii further int'orm Borrower of the right b reinstate after acceleration and the ri~ht to assert in Ihe foreclosure proceeding the non-existence of a default or any ofher defense of Borror?er to acceteration and foreciosure. li the bteach is not cured on or before the date specified in the notice, i.ender at I.ender's option ma~~ declare atl of the sums sec~~red by this Mortgage to be immediately due and payable without further demand and ma~~ foreclose this M1fortRage by judicial proceeding. Lender shall be entiNed to collect in such proceeding ali expenses of foreclosure, inclading, but not limited to, reasonable attorney's fees, and costs of documentary evidence, abstracts and lifle reports. ~ 19. Borro~r~er's Right to Reinstate. Notwithstanding t.emter'~ acceleration of tfie sum~ secured by this hiortgage. Borrower shail have the right to ha~~e any proceedin~;s he~un h~• Lender tc~ enforce this ~tortg.{ge discontinued at any time r~N O ~ au~K~B~ FaGE ~1~ -;.`t,(~:r; ar1nK~06 PbrE ~5~ .