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HomeMy WebLinkAbout0998 (i l_rnclrr rryu~rr.1 murtgagr tntiuranrr a~ a run~fuinn ~,f makinK thr l~,an xrured b~ thi~ Sr.•unly In~trurnrnt. liurru~~rr ~hall F~a~ ttir ~rrm?um. rryuirr~i tu ma~ntain thr insuran~r ~n rfTr~t unul wrh timc a~ thr reywrrmrnt f~~r thr imur.+n:r trrnun~ite~ in c+~~~~rJanrr Ni!h F3~~rr~~wer's anJ l.rnder's writtrn agrremrnt ur ~~~licahlr la~. 8. Inspeetiun. l.rn~irr ~~r u~ agrn~ ma~~ make reaum3blr entnr, u~xm and u»prrU~m~ ~~f thr 1're~jxrt~ l.rn~frr ,h.~ll gnc liurn,Nrr nuti~r at thr umr uf or pnc~r tc~ an insprcUon tiper~fying reatiunahir rau,r far thr imprctwn 9. Cundemnation. 'fhr pr~xrrdti uf any award or claim fur damagc-~, dire.:t ur c~,mryuenual. in rimnr~uc~n Hith :in~ ~un~irmnau~m ur cnhrr tak?ng uf any psrt uf the Property, ur fur c~m~r~an~r in liru ui c~~ndrmnatum, srr hrrrhy a,vgnr~l.ind ~hai! hr ~ai~f t~~ l.rndrr. 1n thr r~rn~ u! a t~~tal t:t~.ing c~i' thr Pru~rrty, the pnxrrelti ~ha~l be a~plird tc~ thr tiumti keurrd h~' th~~ Sciunty Imtrumrnt, w}?rthrr ~~r nut then dur, w~th any rtcc.,s pe~d to E3~~rrower. In thr e~rnt of a~arti~l taking ~~f thr t'roprrt}. unlr~. 13~~rruwer un~i t.rnder vthrrwi~r agrer in wnt~ng, the sums ~ureci by this Serunty In.trumrnt ~h~ll he re~fu~ed by } thr atnuunt ~~f thr ~nkredti mulnplied by the foilowing frart~on: (a) the tutal amount o( the tium; ~~tiured immrdiatrl~ hrii~rr thr tak~ng, d~~ idrel b~ (b) the fair market value of the Ymprrty ~mmecf?strly hxfore the t:~k~ng. An~ balsnrr tihall br ~~aid t~~ &~rroHrr. If the Pro~c rt~ i~ abandoned by &~rruwer, ur if, after n:~t:~e b} Lrnder t~ fiotruwer that thr r~mdemn~~r i>ffrn tu m.?kr an award ur tirttlr s rla~m fe~r damagc~, &~rmw~er fatls to rc~~x~nd ta Lendrr w~ithin ;0 dd~~ aftrr Ihr da~r ihe ni~t~rr gnrn. Lrnder i~ authunrc~f te~ rullc~t and a~ply the prcxrecls, at ~ts optiun. r~ther t:~ c~-c:~rat~un or rr~~~r i,f thr Prupen~ c~r t~~ thr,um. ~c~urcKi b} thu Sc~-unty Ir,strumrnt, w•hether or not thrn dur. l;nle~+ Lrnder and &~rrower c~thervaise agree in writing, any appl~raUon of prcxeeu~ t<~ pnncipal tihall nut extrnd ~~r ~~,t~x~ne thr ~iue d~tr ~~f thr monthly pa~•ments referrrd to in paragraphs 1 and 2 or changr thc amnunl ~~f tiurn pa}mrn~ti. 10. Borrower \ot Released; Farbearance By l.ender ~ot ~t K'siver. Extentiii~n uf the time for payment c~r m~~ihrah~m ~~f ame~rutation of the sums secured by this Stcunty Intitrun~ent grantr~ by l.endrr t~~ an~ wccetiuir m ~ntrrc~t ui H~~rruaer shall nc~t operate t~~ ~elease the liability o( the unginal E3orrowrr or He>rrower'~ wrrrtiu~n m ~nterr+t. Lrndrr tihall not br rryuirrd to commenre pr~xredings against an} succe~si~r ~r. uiterc~t vr sefu+e t~~ extend t~me f~~r ~a~ment ~~r ~ithrrw~tie mcxlify amortizatwn ~if the s~ms scYUred by thi~ ~unty Imtrument h~ ~raxm uf any drm3nd m~eir hy thr c~riginal f3~~rrower or E3~~rrowrr'ti tiurcc~son ~n ~nterest. Any~ forhr~sranrr b~ Lendrr in exer~i~ing an~ nght ~~r remrcfy ,hall nat br a wei~er uf ur nrctilude the exerrise of am n¢ht or remed~•. il. Su~cessors pnd Assip,ns Bound; Joint and Se~ernl Liability; Co-signers. ~fhe r~~~enaniti and ~greemrnt, ~~f thi~ Securuy In~trumrnt ~hall bind and benefit the successors and a+sigm of Lender and Fi~irruv?rr. ~ub~rrt tu thr pr~~~ i.i~m, ~~f ~;~r:~gr:eph 17 Hc~rrc~wrr'~ rc~~rnant~ and agreements shail be~oint and ~e~rral An}~ f3~~rrourr who r~~-sign~ thiti Serunt~ In.tr~mrnt hut d~k~ ncn rxerute thr tic~tr: (a) ~s co-tigning thic Security Intitrumrnt ~mly tc~ me~rtgagr, grant and re~n~r~ th~t BurmKrr'ti ~ntrrc-~t in thr Pro~rt~ under thr terms of thi~ Securit~ In~trumen~: Ib) is nc~t peru~nail} ~~bligated t~~ ~a~ thr wm~ ~r~urtd h~ th~s Srcunty Intitrument; and (c) :~grec~ that l.rndrr :~nd an~ c~ther B~~rn~wer may agree tc~ rxtend, mi~Jii~~, f~~rbear ur makr an~ ;~eiurr~m~~clahun~ with regard t~~ thr terrm ~~f thi. Sctiunt~ in~trumrnt ~~r thr ti<itr withuut !h~t 1)urruwrr'tirc~ntient 12. Loan CharRes. t(the li~an ururrd by th~s St~unty In~trumrnt tiuhJe~t t~~ a law which tirt~ maKimum I~~:~n ~harg~w. and th~t I~w tin:~il~ ~ntrrpretrd u~ that the ~nterc~t ~~r uther I«an rhargc-~ cc~llrcted ur t~~ he cullctitrd in ~ ~unnecnun With thr luan exccrd ihe permrttrd (imits, thrn an} w~h l~~an chargr tih~ll hr rc-~iucrd h~ thr amnunt ' ne~cw~ary te~ rcYiurr the eharge to the rernuttrci limit; and 1b) 3n~ ~umti alrraef~ rullecteci frum 13~~r;~~~rr wh~rh rxrredrd i Ekrm~tted lim~t~ w~ll be refunded t~ Bormwer Lrnder may chcxne t<~ makr th~~ refund h~ rrdu~in~t thr pr~nri~al uwrd under the ti~,tr ~~r hy making a durct ps~mrnt ic~ f3~~rrl~v?rr If a rrfunJ rrdurr~ ~nnci~:+l, the re~iurn~m wil! he trratrd ;sti ~ ,~arnal ~rrpa~ment with<wt an}~ ~repe~ment ~h3rgr under thr tii~tr 13. I,eRislation AtTertinR I,ender's Ri~hts. It en~rtmrnt i~r r~r~ran~m c~f a~~li~ahlr lau, ha, thr efTrct ~~t" " rrnJrnng ~ny ~rc~~ i`icm ~f thr V~~te ur thi~ Srcunty Insirumrnt unrnfur~r~hir a~~urdin~; t~~ ?t. i~rrn.. LrnJrr, at i~~ urn~~n, E ~ra} rrywre immrdiatr (~a~meni in full uf all ~um~ tic~:urrd h~ thi~ Sr~unty In~tr.imrrit ~nd ma~ ~mnkr an} rrmeclir. ~~rrmitted h~ ~araKr;~~;~ I~~ II' l.rn~irr rirrr?.c~ thi~ ~~~ti:m. Lrncler ~hail talr thr ~tr~> >~~itiecl in thr ,ei~~nd rara~r.~~h ~~f ~ ~~:~tsgrsE,h 1 ~ 14. \otices. :~r:~ n~~tirr t~~ F3e~rruHer Cr~ni.lyd f~~r in thi~ Secun~} lrntrumrnt ~h;ill hr gn~n h~ ~irl~~rr~r~~ it ~~r h~ rnailing it h~ fir.t rla» ma~i unir.~ ~~pli~ahlc i~N rryu~rr~ uu ~~f ant~thrr rnrtiuxJ thc n~~urr ,hall hr ~lirrctrcl t~~ thr F I'r~,~crt~ A~i~rr~, ~~r :,n} c~thrr :~~I~1re~~ f3~,rruurr dc-~ignatrti h~ n~iu~r t~~ I.rnJrr An} ti~~urr t~~ !_:•n~lrr .hal! hr gi~rn h~ ~ ~ tir.t cl.~ti~ ma~l t~~ ;.rndrr', adurc-,~ ~tate~ hrrrin ~~r any <nher addre~. Lrn~lcr:fchi~n~t~ti h~ m~~~~e t~~ f3~~rr~~wrr An} n~+ti~e € ;uu~ ~clrci f~~r in th~~ ~ecunt~ ~R~(fUR1CIl[ tif1ell F1C IICCf11C(~ I~1 F13~C hCCtl ~!I~c'fl (t~ Rc,rr~,wrr ~,r 1 rneler uli~n s;t~rn a~ ~,n~~~~1r~i ~ ~ ;tl tfll~ [~:if:igr~~h ~ ~ 15. GoverninK I.aw; Se~erabii3h. t hi~ ~~zunn lntitrumrnt tih.~l) hr F~,~rrnrd h} fe~ler:~l laN an~1 thr l.iw ~~f th~• g ;uri~~t.h~m in Hhi~h th~ F'n~~xrt} iti ~~xatr~f. In thr r~ent that an} pni~itit~~n ~~r clau~e ~~f thiti Srcunt~ In.~rutnrnt ur thr j ' \~rt~ ~uiifl~~ts w~th s~~li~ahlr iaw, ~t~cli c~mfl~ct ~hall n~~t :~fTr~t c,thrr rru~~~~~~n~ <+f th~, Srcunt~ ln~trurnrnt ~~r tlir \~~~r j ~ uhi.h ~.sn Fk gi~rn rfTrrt H~thnut (he c~mflirttn~t ~ru~i~~un. I~i thi. end thr ~r~~~i.t„n~ u(thl. Se~unt} Intitrunirnt ~~ni1 thr i \„tr arr clr~larrd tc, hr,r.erahle i6. Rorrower's C'up~. f3~,rruHer tihall he Ri~en ~me ~c~nfnrmr~f uf thr ti~,tr a!ui ~,f thi. Sr~ur~t~ lir.truni~nt 17. "framfer of the Pr~?pcrt~~ or a Bcnefici~l Interest in liorrower. Ii .ill ~~r .~n~ <<.irt ~~f thr !'r~~~ert} ~~r :~n~ = i.~trrr.t ~n it i~ u~l~i ~,r tran~ferrrd (~,r ~f.a hrnrti~iel interrtit in l3i~rrc~arr ~~.~~1~1 nr tran.irrrr~l .~nc1 ii~~rr~,uer rz~~1 a~ietural ~ ~'r.~~n? «ith~wt 1_rr~7er'~ ~n~,r wnttrn c~,r~tien[. l.rnder ma~. ~t it. ~,~h:,n. ~ey~urr immrcli.ite {~.~~rnrnt in ful~ ~~f all ,urri~ ~;~urrel h~ ihi. ~e~unt~ In~lrurnrnl Huwe~rr. ihi< <irttun ~tiall n~~n c~- r~rr:i.r~! t.~ I~•~~~fcr if r~rr~i.r i~ ~r„hihitr~l `n f~;irral I.~w :i, „f thr ~1atr <~f thi. ~r~ur~« lntitrumrnt If 1 cn.lcr e~rr~i.~~ thn ~~~1i~~n. l.rr,der ~hall g~~r fi~~rr~~~+rr n~~1~~r ~~f ~~.c•Irr.a~i~~n 1 hr n:~ticr ,h.~il ~ r~~~idr e~k•n~~~~ ~i i;~~t lr,~ ih.s~i ~Oci~}• fr~,rn ~hr d.+te thr nut~~c i~dcli~ered ~~r ma~lccl ui!hin ~stu~h }3:,rr~~urr mu:t .~l~ rtirn..r~urc~i h~ tt;i. ti«~irit~ Intitrurnent (f I3~~rrr~uer fail~ t<, ~ay th~wr tiumti ~nur t~~ ttie ct~~r.~t~~,:i ~,f thi. ~en~x~. ! er:eirr n~::~ in<<,kr :i~i~ rrrnrJ~r~ Ex~rnuite~l h~ thi~ Sr~unlti (n~trument w~thnut further nuti.r ~,r ~irrnunJ ~~n fi~~rr~,wrr , _ - - - T_.._:._ - . . _ . . . .:r.~. . , ,*t1~~i~~(I1CtlI ~~1 R(il~ ~2CUflt~ 11~tiittifTlCft( Ulk~c~fill[IUCU :fi J!1)~ tIfT1C rll~~f I~~ (f1C Cdilltf ~V 1:f) ~(IJ» (tlT tiU:h c~Il:t'( (~CP1~X1 J~ .~E.~~~is,.~hlr !.~a m.i~ `rr:it~ f~~r rrin~tairmrnti ~~~~re ;slr ~~f thr {'r~~~ert~ ~ur~u~nt t~~ a;i~ Fr»~er +~f ..ilr c~mta~necl in thiti >«urit~ {n.trunirnt ~~r 1h~ entt~ ~~f a ~ucl~:rnrnt cnf~~r~ing th~~ Sciunt} In~trumcnt l huk• ,,~~n~iihun~ a:r that F~~,rn~wrr _ i,~r j~.~}~ I rri~irr al! .um, Hhi~h then w~~uid !k due under thi~ Secur:h ln~trumrnt :~n~i thr ti~,tr ha~i n„ a~~rlrrau~,n r ,,~.urrr~l (h? iurcti .~n~ c]cf:tult u! an~ c,thrr ru~rnatit~ ~~r ~grermrnh. ~c) {~a~~ all cti~xmr~ znrurrrd in rniurriii~ thn ' tir~i:nt~ In,trurnc•nt. in:iuelir~~. hu~ n~~t limitr~i t~~. reatiunahle tiUr.tne}~' fcr~ end 1~11 t:~~.r~ ~.ueh a~tt,~r~ .t~ I rneier ma~ rr,i,~~nah1~ rc~y:iirr t~~ a~~urc that thc hrn ~~f thit Srrunty Intitrurnent, l.rn~lrr'. nght. in the {'n~~rrt} and I3~~rr~~wer'ti ~~t,l~F.sti~~n t~, thr .ur~i, .e~urr.t n~ thi. ~iuntti Intitrunient tihal{ ~~,nt~nue unrh:~nFe~l l~~,n rein~tatrmen~ h~ f~~,rr„Nrr. r}u. ~<<urit~ In;r; ur~irn; .?n~i thr ~,hliKntwnti ~e~uree~ herrh~ ~hal) rrrna<n full} ef~rrti~e ~f n~~ ar~rlcrati~,n hacf ,lrrr:i H~ :ur~rr. ~hi. r~~;h; tn rrin.t::tc rh,sl! nnt :~~~I~ ~n the ~.~.r ~,f .~~irlerauim u:idrr r.+r~~tra~t~~ 13 c~r ! 7 n~,-~~. ~`1~ ;~~r,; ~ ~ ~ - _ ~5 a s~.~`i~.~ v 2:,r~„; a~..,> r-w„~ rt ~'~~Y.,. ~~~~4a"~iC"~s~~~~~::