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HomeMy WebLinkAbout0419 IU Kufn~~rr \ut Kelr~?arJ: I utbrarw~~r B~ Lendrr Nut a V1 pi~er. k.xt~i~~iun ~,t tl~r tin~c t~~+ ~~a~ nu•~ii i~r niudliira t~,•r~ .~iu,~r~i:.iti.~r thc ~u~n> >«urrd i,~ lh?~ Murl~;akr kr:tn[rd h~ L.rndrr i~~ .ui~ ~urcr»nr ~n ?ntcrc~t ut H~~rn~~~~~ ~.i~.11~. li~~~ u4h'I.~i~ i~~ I~•ic.u~'. 111 .Ilh Ili.llllll'f. I~II ~1d~11~1t1 U~ Itlt' 11~1l;Il~./i ESU«I~KCi iill(I F;U(fi~NCT 1\l1CCl`\U~l 111 IIIICfI'1:. 1. i~~i~ i.h.~l: u~~~ t~~ ~~•yu~rrd t~~ ~unin~rucr Eir~xrr~i~n~!~ a~aiu~t ~uch tiurcr„ur u~ rrtu~c t~~ c~t~•nd timr tur p;icm~•in ur ~~thui.+i~~ n~uil~i. .unur~~r.~~wr. ~~t th~~ ~un~, ~rrurrd 1+~ th~, MunR.,~c• h~ reawn ~~t ,~n~ drmand madr h~ thr uri~uial Hur r~~HC~ .~n~t kiu;~~~~~rr ,~ucir,~ur~ in u~tcrc~t An~ turbcaranrr h~ L.cndrr ~n c~~rrr~~in~ an~ n~;ht i~r rrn~cd~ hcrrunder ~~r „tlirrN+,r .~Itutilrtt 1~~ .i~ipiic.~hl~ 1.~H ih.?11 nuI br .i Ha~vrr ut t~r E~rr~'lucir tht• t~xrrri~r t~t an~ ~u~'h r~}~h! ur rcmcd~ 1 1. Succr~wn and Aa~igns Bound: Juint and ~~eral Livbilih: Cu•signers. ~I hr c~~~enant, and a~rerment~ hrrein :~~i~i.uurii ~h.~l! h~nd .ind thi~ n~ht~ hrreunder ~h.~U ~~~urr te~. the rr~pecti.c ,uccr~.e~r, ,,nd a»~~;n~ ut Lendrr .~nd Fiur tuNri. iuh~r:t thr ~nu~?,wn. ~~1 4iar,iKraph Ih hrreut All c~~cen.uit~ and .~~;rrrmrnt~ ~,t k3urri~urr ~h,~~l hr ~uin~ :ind u~cr.~! ~~n; kiurt~~NCr ~~hu ru-~i~;n, tht> Mur(ka~c. bul d~K~ nut c~ecutr thr ti~~lc ta~ c~~ ~i~;nin~: thi, M~~rtka~:r ~~nl~ tu ~nvrt~;.~~;~ ~r.~n~ .~nd ~un~r~ th.?t t3urruwer ti in(errtit ~n :hr Pru~~ert~ tu L.rndrt uudcr thr trnu~ „t ~hi, Murt~;a~r ~hi i~ n~~i ~x•r~un.~ll~ !i.~hl~ uu thr hut~ ur undrr thi~ Murt~;agr. and 1ci a~;rer. that l.rndrr and ,~n~ ~~thcr f3~~rrc~Hrr hrrrundrr tn.~~ .~~;rr~• t~~ rttr~~d. m~K1it~. turbrar. vr ma{:r :in~ u[her accumn~udat~ims Hitl~ rr~;ard thr trrm~ n1 lhi~ Murt~;aRe ~n thr i~u~c ~~ith~~ut !h.ii Fiurn~Ki•i , ~un,rnt and w~thuut rrlratiu~K that k3~~r.*~~~~c•< <~t mudil~in~ t1~~~ M~~n~;aRr a~ t~~ that lSurn~~rr . ~ntCtrl~ ~u thr F'ruFkrt~ 12. \uUce. i~.r{~' Iui an~ ~~uti~r tryuitrd iiti:ler ~t,~~~licahir ia~~ t~~ hc• p~i~e•!~ in anu!t~r= n:anne•!. iai an~ ~i~~ti.~ t~, livit~~~~ct ~~~~nidri! Iv~ i~~ :hi, ~lutt~:.t~:c ,lt~ll hr ~;~~rn b~ dri~~rnnE ~i h~ n:ailin~ .u.h n~~ti.r h~ .rrt~!ir~J ;nn~! a.i c1ir.,r~; Itu~~u~.c! .t~ !hr 1't~,~ier1~ ;~i1!1tr~~ ~~t a; ~u:h ~~thri add!c" a~ k3vn~,~ii !na~ ~lc•,~?~n~(r h~ n~+li~r fi~ 1 ru~iri {~r~~~icir~l hr~rin..:i~~'. tt~~ an~ n~~;i~r i~~ I rndrt ,?tali l~e• ~i~ri~ h~ ;ettihrd tr.aii :u 1 rtidrt'~, ad:~tr,• ~!atr~f hrtrin .u~,h utiirr a~l;iir,• ~i~ ! rndr! nia~ ~1r~i~~.uatr h~ nc~t~:r cc~ 13c~rr~,~.et a• {~r~~~~;f~d hc~r~n ~~n~ n.i~i;c rc.,~i~lr~ 1~,r ~n :h!. \lurt~,~~r ,hall i~r ~ierin~•d ti+ h~,~r hrrr: ~nrr, t~~ iiutrvwr* ~~r 1 rn:~ct ~~hrn ~i~rn u~ ;ylt' I11~1SIIt'I ~r~i~natrd hr~rin 13. l;u~erning l.~M; Se~er~bilih. l~hr ~tatr and I~xal la~~ applirahir ti~ thi~ !N~mK:~~;r tihall hc thr lawti ut the ~uri~dicuun in Nh~~•h thr F'ruprn~ i~ I~K:~ted. Tiir t~~rrK~~ing srmrncr ~hall n~n limit thr appticah~tit~ ~~f Federal lau tu tluti M~?nR:~Kr !n thr r~rnt th:~t an~ pru~i~~on or elause of thi~ M~~rtgage c~r thr ti~~tr r:~ntlict~ w;th s~Plicahle law. surh cuntLrt ,hall nut aNert uthrr p~~~~u~cm~ ~~f thi~ Mortgage ur thr !V~~te uh~ch ran hr Knen etfect w~thout the c~~nflirting pn~~i~iun. .~nd t;~ [hu rnd thr pru~uiun~ ~~f th~s M~~rtKaKr and thr tirnr are drrlared t~~ he ~e~rrablr. At u~ed herein. c~~~t~' . r~~~rn~r~ snd "acti~rnr•vti trr~ ~ includr ell ~um~ t~~ thr extrnt n~~t prc~hibitrd b~ applicahle lau i,r lim~ted lirre•u;. 14. KurruMrr's Cup~. f3t~rr~~Krr ~hail hr turni~hrel a r~~nt~~rmed ut thr '~~~tr ~nd ~~f thiti M~~rtkaKr at lhe unir u1 r~rrutwn ~~r ahrr recurdation here~~t 'I 1S. Rehabilitatiun Luan Agreement. BurruWrr ~hall fultill all of B~~rn~~rr'ti ~~hGgatium under am hume rehabilita- ~ uui~ imF~r~~~rrnen?. rrp:~~r. ur vthrr Ivar aKrrrmrnt •.?hich B~~rruwcr rnterti intu W nh L endrr. Lrnder, at Lender's opti~>n, ~ ma~ reyuirr F3~~rn~µrr t:: e•~erutc• and drli~rr t~~ Ixndrr. in a turm arcrptahle t~~ lxnder. ~n atisiKnment c~f am riKhts. { rlaini~ ~~r drtrn,r~ which fi~rruwrr ma~ ha~r aKaimi parties wh<~ Suppl~ lah<~r. mater~al~ ~+r ~en~ce~ in runneetian with ~ ~n~F~r~~~rnirnt. madr t~~ thr Pruprm. ~ 16. 1 rs~nsier ~?f thr Properl~ ur y 13eneficial Intere~t in Borruwer. It ali ;~r an~ ~art ut the f'ru~ert~ or am int~re~t in it i~ ~uld or :ran~terrrd 1ur il a brnrtic~al ~ntere~t in }3urre~Her i~ ~~>!d c~r tran.terrcd ar~d f3~~rrow~~ i. not a natural ~ per~vn) ~~thvuc lxndr~'~ pnur Nrittrn runsent, l.rnder ma~, a[ ~t~ c~pnun, reyuire immediate ~a~ment in tull ~f ali ~ ,um~ ~erured b~ !hi• Mo~tgage. }{o~e~rr. lhi~ opt~on shall nc~t be e~er~i.rd h~ l.endrr if e~cr:~.e i~ ~rohib~te~f h~ iedrral la~~ a~ ut tt~r datr ~~t thi, ~lortgage ~ !t Lendrr c~criitie~ thu ~puon. Lendrr Shall gnc f3c~rrc~~?rr nc~ti~c t~l a:~elrrane~n. -Ihe nc~ti~e ~tiall ~r~~~~d~ a E prr~ud ut ii<~t ir» ~han 3U da..s trum the datr the nen~~e iti deli~ered ur mailyd ~uhin ~hi~h Borzo~~er mu~t pa~ all ~um. ,rru~ed b~ ~iiu M~regagr. It l3orroHrr tail~ to pn~ the,e sum~ pne~r to the e~~?iranon ut thi~ ~eno~i, Lender ma~ ~n- ~u~.r an~ rrmedie• prrnuttrd b} thi~ !~lortgagc without furthrr nonre or demand on Borrotier. ~ 1~~~ 1 ~i~~~x~~ (~~~t ~.~~15 ~3urruwer and Lrndrr turthrr ro~enant and agree a~ fu1~oH~: ~ 17. Acceleratiun; Rcmedfes. E:eept as provided In puagraph 16 hereof. upon Borrow~er's brearh of an~ eovenant ~ or rgreement of Borrower in t6k Mortgage, including the corenants tu pa~ when due anv sums secured bv thts Mort- ` gage, l.ender prior to accetentbn shall givr notice to Borrower as provided [n pangraph 12 hereof spec[f~ing: (1) the breach; (21 the action rcquired to cure such breach; !31 a date, not less than l0~dars fiom`th~dttFttltYiot~ce b mailed to ~ Borrower, b~ ~~hich :uch breuh must be cured; and (41 that tailure to curc su~ h,bre~ch on1~r be[ore the date speci8ed in ~ the noti~~e ma~ result in acceleration of the sums ucured by thi~ Mortgage~ f,o~~ojqcs.b~i j~~cial procetding~ and sale ~ uf the Propert~. 7~he notice shaU furiher inform Borrower of the right to reinstat~.~tei.~eceleiation.and the ~ight to ~ assert in the foreclosure proceeding the noneiistence of a default or an~ other defense of Borrower to acceleration and F [ureclusun. If the breach i• not cured on or before the date specitied in the notice, Lender. at Lender's option~ ma~ p declare all of the sums stcured by th~s Mortgage to be imrnedlatel~ due ~nd payable without further demand xnd may ~ foreclose this !Nort a e b udicir) roceedin l.ender shall be entitled to colltct in such roceedin all ex nses of ~ B B !J P B• P g Pe fureclosure, including, but not limited to, rersunpble rttorners' fees, court costs. a~d costs of documentar~ eridence, ~ abatr~a•ts ~nd tille report~. 18. Borruwer's Nigh1 to Rein~tr~te. Nutuith~t.~nilink L~•nder'ti arrrlrratiun ~~1 thc sum~ secured h~ this M~rtKage i ~~ur F3urruurr ~ hrrach. fiuff~~HCf 1~1dII Il.~~r thr ritiht t~~ ha~r .~n~ pn~rrrdin~;~ hr~;un h~ l.ender to enti~rce thi~ M~~rt- ~ ~dkC ljlSlnllllflUC1I .lI enti nn~r ~;n~~r t~~ rn~n uf ~u~1~;n~rn~ rn~ur:ink th~ti !~1nrt~a~;r i1: ia) Burruw-er pa~~~ Lender all sums E ~ utu~h KUiIIII f)l' (IICII dur unilrr this MurtKa~;e an~t thr Nulr had nu arrelrrat~on ucrurred; lbl Bc~rrawer cures all I~rr.~~ hrs ~~t .~n~ ~~tfirr ~~~~rn~nt~ ur aKrrrmrnt~ ~~t H~~rn~Her cunt~ined in thiti M~~rtKaKe; Icl B~~rm~er pa}ti all reasi~nable rxE~rnu•~ in.urrr~l h~ Lrndrr in rnfurcinK the c~~~rnantti and aKreements uf B~~rruu•er c<intained in this MortKa~e. and in rnf~~rcin~; I A~niier~~ rrmedir~ ai prc~~ ided in paragraph 1~ herei~f. including. hut nc~t limited ti~, reace,nahlr :~tt~~rne~•ti' Ires anii c~~urt ~~~titti: and ~dl B~~rrc~w~r takrs such action a~ Lender ma~~ rea~onahl~ rryuire t~~ a~~urr that thc licn ~~t thi~ MurtK~Kc~. L~•n~1~•r'ti interr~t in thr Pn?pert~~ and Borruwer't uhlikatic~n tu pa~ thr sums tiecured h~ thiti MurtKakr tihall run~inue unini~iairrd. l'p~m turh payment and cure hv B~~rmwer, thiti MurtX~Ke anci the uhli~;atii~nti secured hcrrb~ shall rema~n in tull t~~rrr snd eftert as it no acceleratiun had e~ccurred. 19. Assi~nment u( Rents; Appointment of Recei~er. -1. additi~,nal ~ecunt~ hereundrr. Burruwcn c~reh~ a~tiiRnti tu l.ender the rrnt~ i~f thr f'ru~rt~. prvnided that Burn~Ner tihall, ~~ri~~r t~~ arrcleratic~n undrr F~arakraph 1' hcrri~f ~~r ahan- donmrnt ~~f thr Pruperh, ha~e the riRht ~i~ cc~llect and rrtain tiuch rentti as thr~ her~~mr duc and pa~ahle. Up~~n acreler~tiun under ~arakraph 1' herr~~t ur ahandonment «f the Pm~ert}. Lender shall he rntitted t~~ ha~c a rrcei~er appu~rted b~ a:~~urt ti, enter upi~n, take pu~~estii~~n <~f and manakr the Pmprrt~~ and t:~ rc~lle~i thc rrntti ~~f ~hr Pmperty includinK tho~e ~atit dur All rrntt collectrd h~• the rrcri~er `hall he applied tirtit tc~ pa~•ment i~f the r~~~t~ ~~1 manaKement +~t the Pn~prrt} anA cc~llert~em of rent~. ~ncfuding, but nut limited to, recci~rr'~ tee~. ~remiumti ~+n rrrri~rr'ti h~~ndti anct reas~~nahle att~~rnr~ti' t~ee•~. ~nd thcn tu thc siim~ tier~~red h~• thi~ MurtKaKc. -i he rrrri?er shall hr li.+hlc t~~ c~~unt ~~nl~ f~~r th~~~c rrnts artualli rrt•r~~r~l. ' . BocK 67~3 FaGE 4~.9 ~ z _ ~,~:~a~.~ ~ -y~