HomeMy WebLinkAbout98-01512
Orrstown Bank
-vs-
Dennis L. Ott and Kimberly S. Ott
In thc Court of Common Pleas of
Cumbcrland County, Pennsylvania
No. 98-1512 Civil Term
Michael E. Barrick, Deputy ShcrilT, who being duty swom aecording to taw,
says on July 2,1998 at 10:24 o'clock A.M. E.D.S.T., he posted a copy of Real Estate Writ
Notice Poster and Dcscription in the above entitled action on the property located at 102
Longview Drive, Shippensburg, Cumberland County Pennsylvania according to law.
R. Thomas Kline, Sheriff, who bcing duly swom according to law, says hc served the within
Real Estate Writ Notice Poster and Description in the following manner: The sheriff mailed a
notice of the pendency of the action to one of the within named defendants to wit: Dennis L. Ott
by Certified Mail Retum Receipt Requested Restricted Delivery Deliver to Addressee only to his
last known address 1326 Ritner Highway, Shippensburg, Pennsylvania, This letter was mailed
under the date of July 27. 1998 and received by Denilis L. Ott on July 28, the return receipt card
signed by Dennis Ott.
Richard K. Howell, Deputy Sheriff, who being duly swom according to law, says on July 29,
1998 at 5:20 o'clock P.M. E. D. S. T., hc served true copy of Real Estate Writ Notice Poster and
Description, in the above entitled action upon onc of the within named defendants to wit:
Kimberly S. Ott, by handing to Kimberly Ott at M & M Contractors, 221 West Martin Avenue,
Shippensburg, Cumberland County, Pennsylvania, its contents and at the same time handing to
her personally the said true and attested copies of the same.
R. Thomas Kline, Sheriff, who being duly swom according to law, says he served the within
Real Estate Writ Notice Poster and Description in the following manner: The Sheriff mailed a
notice ofthe pendency of the action to one of the within named defendants to wit: Kimberly S.
Ott by Certified Mailed Retum Receipt Requested Restricted Delivery Deliver to Addressee
Only to her last known address, 419 East King Strcet, Shippensburg, Pennsylvania. This letter
was mailed under the date of July 27, 1998. Letter relumed to Sheriff's Office on August 24,
1998 reason checked UNCLAIMED.
R. Thomas Kline, Sheriff who being duly sworn according to law, says he served the within
Real Estate Writ Notice Poster and Description in the following mariner: The Sheriff mailed a
notice of the pendency of the action to one of the within named defendants to wit: Dennis Ott by
regular mail to his last known address 1326 Ritncr Highway, Shippensburg, Pennsylvania. This
letter was mailed under the date of July 30, 1998 and never retumed to the Sheriff's Office.
R. Thomas Kline, Sheriff, who being duly sworn according to law, says he servcd the within
Real Estate Writ Notice Poster and Description in the following manner the Shcriffmailed a
notice of the pendency of the action by regular mailed to one of the within named defendants to
wit: Kimberly Ott at 419 East King Street, Shippensburg, Pennsylvania. Tbis letter was never
retumed to the Sheriff's Office.
R. Thomas Kline, Sheriff, who being duly swom according to law, says that after due and
legal notice had been given according to law ,exposed the within described premises at public
venue or outcry at the Court House, Carlisle, Cumberland County, Pennsylvania, on September
2,1998 at 10:00 o'clock A.M. E. D. S. T., and sold the same for the sum of$ 1.00 to Attorney
Ron Turo for Orrstown Bank, P.O. Box 250 Shippensburg, Pennsylvania, Its successors and
assigns. It being tbe highest bid and the best price received for the same Orrstown Bank being the
buyer in this Execution paid to SheriffR. Thomas Kline $ 673.17, it being Shcriff's Costs.
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ORRSTOWN BANK,
Plaintiff,
: IN THE COURT OF COMMON PLEAS OF
: CUMBERLAND COUNTY, PENNSYLVANIA
v.
,
,
: NO. 98-1512 CIVIL TERM
DENNIS L. OTT and
KIMBERLY S, OTT,
Defendant
.
.
: CIVIL ACTION. LAW
,
,
: IN MORTGAGE FORECLOSURE
PRAECIPE FOR WRIT OF EXECUTION
TO THE PROTHONOTARY OF SAID COURT:
The undersigned hereby certifies that the below does not arise out of the retail
Installment sale, contract, or account based on a confession of Judgment, but If it
does, It Is based on the appropriate original proceeding filed pursuant to Act 7 of
1996 as amended; and for real property pursuant to Act 6 of 1974 as amended.
Issue Writ of Execution In the above matter to the Sheriff of Cumberland
County, debt, Interest and costs upon the fOllowing described property of the
Defendants:
a. Principal $66,853,66
b. I nterest to $ 4,305.07
c, Late charges $ 204,96
d. Attomey's fees $ 3,300,00
e. Taxes $ 6,420,00
TOTAL AMOUNT: $81,083,69
102 Longview Drive, Shlppensburg Township, Cumberland County, Pennsylvania (see
legal description attached hereto and Incorporated herein as Exhibit A)
5 dd. ,qt
Date
Respectfully submitted,
TURO LAW OFFICES
}f111J;W0; i4
Lisa M. Whistler, Esquire
32 South Bedford Street
Carlisle, PA 17013
(717) 245-9688
Attomey for Plaintiff
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ORRSTOWN BANK,
Plaintiff,
: IN THE COURT OF COMMON PLEAS OF
: CUMBERLAND COUNTY, PENNSYLVANIA
v.
.
.
: NO. 9 f ./S/~ CIVIL TERM
: CIVIL ACTION - LAW
DENNIS L. OTT and
KIMBERLY S, OTT,
Defendant
.
.
: IN MORTGAGE FORECLOSURE
COMPLAINT
AND NOW, comes Orrstown Bank by and through Its counsel, Ron Turo,
Esquire of Turo Law Offices, and states the following In support of Its Complaint:
1. The Plaintiff Is Orrstown Bank, a Corporation organized and existing
under the laws of the Commonwealth of Pennsylvania and having Its principal place
of business at P.O. Box 250, Shlppensburg, Cumberland County, Pennsylvania,
17257.
2. The Defendants are Dennis L. 00, an adult Individual, currently residing
at 1326 Ritner Highway, Shippensburg, Cumberland County, Pennsylvania; and
Kimberly S. 00, an adult Individual, currently residing at 419 East Klng Street,
Shlppensburg, Cumberland County, Pennsylvania.
3. Defendants on May 26, 1992 entered Into a Mortgage loan Indenture
with Orrstown Bank, In the principal amount of seventy-two thousand ($72,000.00)
dollars, the tenns of which loan are more specifically evidenced set forth In the
Mortgage dated May 26, 1992, and recorded August 26, 1992, In the Cumberland
County Recorder of Deeds Office in Mortgage Book 1064, Page 644, a copy of which
Is attached hereto and Incorporated herein by reference as exhibit "A" which
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mortgage contains and Is a lien upon the property situate at 102 Long VIew Drive,
Shlppensburg Township, Cumberland County, Pennsylvania.
4. A copy of the Adjustable Rate Note Is attached hereto and Incorporated
herein as exhibit "B".
5. Plaintiff, In consideration of the said Mortgage and Note advanced to
Dennis L Ott and Kimberly S. Ott In the sum of seventy.two thousand ($72,000.00)
dollars.
6. The premises subject to said mortgage Is more specifically set forth In
exhibit "C".
7. Dennis L Ott and Kimberly S. Ott are the sole owners of the said
premises securing said mortgage.
8. Sald Mortgage has not been assigned In whole or In part by the Plaintiff
herein.
9. That said Mortgage Is In default because Defendants herein have failed
to pay monthly payments of $585.73 for the months of JUly 1997 through February,
1998, plus late charges In the amount of $204,96.
10. The Plaintiff has given to the Defendants written notice of intention to
foreclose on said Mortgage as required by law under Act 6, dated October 1, 1997, a
copy of which Is attached hereto and Incorporated herein as exhibit "01" and "02".
11. The Plaintiff has given written notice of default as required by the
Homeowner's Emergency Assistance Act of 1983, dated June 30, 1997, a copy of
which Is attached hereto and Incorporated herein as exhibit "E1" and "E2".
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fcECOilOEO-OFFIr.I: OF TIlE
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MORTGAGE
TillS MORTQAQl!(USecurllY Inslrumen''') II given on ,.. ....I:1!W,c?;-,~...."..",,,..,, """""'" ""'" "'"'' ,,,,.. ",,,.. I' ..
19 I .~~t' . The mor.sagor 11 , I P.~nl,l.~,.\lj." .11J:.t,.qJ\~.~irob.eJ:.lY" tltl.Otl:".....", 'II'" ,.....'.00...1' .t.. it '.l'ft' ""'" I'''' It'"~
,. ................. ,,,,"0" .t... ....,...... ("Uarrower". This Security ,ostrumcnllss1ycn JQ .P.~f.ff~.q~Q..~At}""" ,to.." 1I,t'I,t' lilt
.., ,.. II ....,......, I".... ....... It ....... ....... II... to......... ,..". ..'1".... .f.......... ....1.. ,Which II orsonlzed "n~ flxl'lIns "n4cr
Iho IswI of . J!l\IlI\"y,lv.qn~A ."""" "" "." "..." ,..."" ,AmI W~ole Addrm II "P, .,Q...\I.OK ./iO,..O;utolfn'I' 1!A.,l,H44" II '
".... H'........f' ,........ tI,.. ....................... .......... 1',.... .,.,.,...,...... It ("....clutcr'1. ~orrowcr OWCI '..cndcf tha prlnclp,,'.!,'
,11m pf ,.~,'ly.fI,,~y.-;1)f~, opIP,I,IMnd, ,alld. ,Nll/lhlllllr",dJ:ha .n.n,;; ,;;, ;;.n. n, 0"1, n..-;, ,-;"",, ,"" ,",,,", , '"'I.T, ,T..T, ,T..T',;, ppll~r. "I,
(U,!l, $ ,,7,~ ,QlIA-QQ" ), This delllll evldencc~ \ly Porrow~r's nole "pl~" Ihe SAme dAI~ AI This S~curllY Inllr\llll~nl ("NPlp'~, whl~h ,J
Prllvl~el for 11\0nlhly paymenls, wilh T~e filII delll,\r 001 pAid ~nrller, "lie nnd pAYAllle on ,<<'If,., ..r,.,€;..,..,."", ,20.1.7"""" I "I' ii, I.:'
This Seellrily Insln'm~nl s~ellrello J.cnder: (A) Ihe repaymenl oflhe d~III evldeoee~ \ly Ihe Nole, wllh Inler~sl, nnd All ren~wftls, ~~Ionsipns \'1
AOd modlneAllon, prlhe l'!plei (b) Ihe pAymenl pfAII ol~~r IUml, wllh Inl~resl, A~VAn~ed IIn~~r pArAllrAph 710 prol~Fllhe'FFllrilf pflhl. ::\';:
SFcllrllY Inlmlme"li And (c) Ihe performAnce pf 1I0rrower'I Fovennnls ftn~ Agreemenls IIn~er Ihl, !!ecurllY Inl.rllmenl find Ihe !'lplp, flirt i,
Ihl- pllrpole, porrower IIoel herelly 11\0rlgsge, grAnT And conVey 10 ,"ender Ihe followlngll~lcrlb~~ property 10eAled In ""':" I , I "" 'i,;,;
... ,\lMIlP.llllllb.llr.g"'fP,\fll"MIl,..C)lQI!leJ:lllru!,.....,, "..., ......,.. "..,... ".""", ..,....,..,.. COllnIY, Pennlylvnllln, ,',J
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(see attached Sche<lllle "-\")
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102 Longv~ew Drive
which has the address of ...... ...... ... 0 ............ ........ ..0. ..,.................. ...,.,. ."...,
. ISlreel1
PennsylvaniA.... H ~~?.... .. ..".. . .. ("I'roperlY Address'1i
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TOQI!THIlR WITH Alllhe Improvemenls 1l0W or hereAfler~recle~ pn Ihe properlY, an~ all eAsemenll, sppllrlen"OFe" AM filllllrF,;.t:
now or herepfler Plarl pf Ihe properly. All r~plAcelllenls nlld A"dllions shall Also lie povered IIy Ihls SecllrilY Inllmmenl, ^" of Ih~ I /
foregoing Is reterre 10 In Ihls SecurilY Illslrumelll Allhe "ProperlY." , :'"
, " BOJ1.J1.0WI!J1. COYI!NANTS IhAI Borrowerlllawfllllyselsed ofl~eeslale hereby Fonveyed And hAS Ihe rlghllo mnrlgAge, grAm An"
, convey Ihe ProperlY ~nd IhAllhe Properly Is unencllmbered, excepl for ellcumbrances of record. Borrow~r WArrAnls An~ will def~nll '
generAllY I~e IIl1e 10 Ihe properly AgAlllsl sll clAims Aod demAnds, s~b]ecllo allY elleumbrAnces of record,
. "I.'TIlI~ :;jEC~j\ITY INSTRUMENT. combines ~niform cpnV~I1Anls for nAllbnal use And non-uniform covenAnls wllh limiled
jvftrls\\o,lI~ ~Y ~~ri'41~IJo" In ,conslllute A IInlform lecllrily Inslrumenl ~ov~ring reAl pr!lperly. ' "
i'I". tJNif,QIlM COYl!tlANTS. Borrower Alld ,"ender covenAnl And Agree AS follows: . .,
,I,; I ''''',1. I! r~'/lT~lIlllt rr"T~lpsl'nd Inl,r'lll Pr,ps,m,nl ,"1\ "alo Ch~rlu, BorroWer shall prompllY pAY when dllelhe prlnclpsl of An4 .
"/Illbr,sl 'dll Iho ~ebl evidenced by Ihe Nole And pny pr~pAymelll And lAic chArges !lue under Ihe Nole.' .
1. Flln"s for r,.", ~11" 'llsursnee. SlIb]ecllo applicable lAW or 10 A wrlllen WAiver by tender, porrower shAll psy In ,"Foder pn Ih~ 4ftY
monlhly paymenll ftre !lu~ IInder lhe Nole, IInllllhe Nole Is pAI~ In filII, A 111m ("fllnds'1 fop (A) yeArly IAxes And assesslll~Ols whlph m~Y
ftllAl1l prlorilY pvpr Ihl~ !lecllrily Illslrumelll as a lien on lhe ProperlYI (II) yearlY leAsehol~ pAymenls or gr0411<l r~nls pn Ihe rropprly, If
. . ftnYi (c) ym1y MJ~r4 !lr properly Insurancv. remlumsi (d) yeArlY n!lod InsurAnCe premiums, If AllYi (c) yeArly morlgAge InlllfAnp~ '
pr~mllllil., If I\riYi "nd (I) AnY IIImS pAYAble "y Borrow~r 10 tender, In accordAnce with Ihe provisions of PArAgraph 8, in lIell of Ihe
. p.Yfllenl lIfJIIllrlllAge InlllrA!,Ce premiums, These lIellls arc called "Escrow lIellls." lender l1\ay, at Any lillie, collec! and hol4 Fllnds 10 All
IImp4nllll!I 10 ~~F~e" Ihe I1\Aximum Amouol q lender for A federally relale~ morlgag~ loan ~AY require for DorroV/er's escrow Accounl
uncler Ihe f~derAI J1.ea! IlslAle Selllemenl ProFedllres Acl of 1914 al Amended from lime In lime, 12 U.S.C, 0 2601 el ~eq. ("R"SJl^'~,'
IInlell anplher law Ihlll Applielto Ihe fllndssell A I~sser Amounl. Ifso, ,"ender may, AI AllY lime, eollecl And ~old funds In An Amoll"1 nol
10 ~xcce4 I~e '~sser amounl. Lender may eSllmATe Ihe amounl of fllndl dlle on Ihe bASil of eurrenl dAIA And reAson Allie FSllmAles of
~lIpenlHlllres of fulllr~ alerow IIellls or otherwise in sccordAnCe wilh AppliCAble lAW.
Tho f4nds shsll \Ie held In An InslilllUon whose depolils Arc inl4rF~ \ly a federAl AgencY, Inslrllm~nIAI\ly, orpnlllY (Ine'"4illll ~nder,
if ,"cnder II IIIFh An inslil~liiln) or In any Fed~rAllfome J.OAn Pan~. J.cn~er shall ppply Iho F\lndllo paY Ihe ~erow lI~m~. klldCf mAY
1101 pharlle porrow~r for holdlllg And Applyinglhe funds, AllnllAlly nnlllyz1ns Ihe eSFrow aecllllnl, or verifylnglhe elerow lIem-,\lnl~~~
~lIder pAYI Borrower inleresl olllhe funds And applicnhle lAW permils J.cnder In make sllch a chArge. I\owever, Lendef may re'l"\~,
PENNSYLVANIA-slnale flmllj-fml.IlIl/Fllddl.ll.c UNIFORM IHSrRUIlEHT EXHIBIT 9/10) (po,,' oN pOI")
iiiiiilit084 rAGE 844
A
All.STATE'INTERNATIONAL
'. Ilorr~~er 10 poy.o one-ll""e chorse for on Inclependenl real ellple INK reporlinSlervlce Uled by ~ender III connecl)oll willi Ihllloan, unle
applica\lle law provides olherwlle. Unless an asreemenlll ma4e Of applicable law reqlllrellnler~llo \Ie paid, J.cnderahall npl ~ fe'lll'
10 ~IIY pOflPwer any inlerell or ~arnlnsl on Ihe flll\dl, pOHl~wer and I-endef may agre. In wrillng, ~owever, Ihallnler.11 ahall hp pal4 P
Ihe flll\dl. J.cnder Ihallgive 10 Porrower, wllho"1 ctWge, all alllll1al accounllllg pflhe fll"dl,shoWmg credllsllll4l1chll' IA Ihe f"n4a IIn
Ihe pllrpole fOf which each debil 10 Ihe fllndl Wal mqde, The f"nlls qre plellgell 01 adlllliollqlleCllrllY for alllllmllecllrpll hy Ihll !lecHrll
Inllrllmenl, r h
If Ihe fllnlls hel4 by ,"ender exceelllhe IIlT10llnll permllle4 10 \Ie helll by applicable Iqw, I-ender Ihqll IICcAUnllA POfrOW.f ,or I
excess f"nlll ill qccorllance wilh Ihe requlremenll pf pppllca\lle laW, Iflhe omoUlI1 oflhe F"n41 he III \lY I-endef M III1Y lime la nOII"rnpl.n
ia pay Ihe IlICfoW Ileml Whell due, ,"ender lOllY 10 nOllfy porroWer III wrlll!l8, anll,lnluch case, !lorro\Verlhllll pay 10 J.c1l4er Ihe a'tlAlln ,
necmary 10 ma~e up Ihe <leOclency, 1I0rroWer Ihall ma~e lip Ihe deficiency hI no more Ihall Iwelve monlhly paymenll, al ,"ellller, ,pi
lliscrellon.
. Upon paYl\1enl in full ofalllumlSecllrel\ \lY Ihll Secllrlty 1lIllr"l\1enl, I.enelcrsholl prpmpllY refl\nl\ 10 UorroWef III1Y Fllnds hel4"
,"eneler, If, "lIe1er parasroph 21, I.ender Ihall pcqlllre IIr lelllhe rrllperlY, I.eneler, prlorlo Ihe acqlllllllon or laIc IIf Ihe rfPperlY, 'MI
applY anY Fundi hell\ by I.ender al Ihe lime IIf acqlllllllpn pr laic AI "Hedllasalnll Ihe Il\mllecUrel\ \ly Ihll !lec"riIY IlIslrllmpnl,
3. ~ppllCllllall Qr raymenla. Unlell applicable laW prQvldel Qlherwlle, all paYII1ellll receiveell>Y ,"ender IIneler p'arUfllplllI lIn4
Ihall \Ie appllell: firl" 10 PIIY prepaYmcnl charsell\lIe Ilndef Ihe Nolei leconl\, 10 amollllll paya\lle Illlder paralrllph ~i Ih'fll,lll'nlef~'
eI~ei f<l~rlh, 10 principal ""ei IInellall, III allY laic ch~rle,lIl1e Ilnllef Ihp NOle, .
1, f::h~f."1 "I.n., porrower Ih~I' pay plll"llel, ftlSellmellll, chllrSel, finel alld Iml1pllllona allrl\lulal>Ie 1Illlle IlfllP.Pf1Y whlFh \lIlI
allalll prlorllY IlVef Ihll Sccllrhy IlIl'rllmelll, ftn41enlphlll4 paymelll~ Pf IrAII1I4 renll,lf ftnY, tlQrfOWef Ihall P~y I~"~ Ilhli,allAM In Ih
m~nnor pmleleellll p~ra.rqph~, pr If nol palellll Ihalmannef, tllIrrllwef ,hall paY Ihem Oil lime dlreclly III Ihe penpn IlW'" pllymvn
porrower ,h~1I prompllY furnllh 10 I-elleler ~lIl1ollcel IIf "mllllnlllo !Ie pal4 1l114er 1111, p~rllsr~ph, If tlorrllwer m~~.~ Iheaa pftym.nl
dlreclly, porrllwer Ihall prllmpllY f"r11II" 10 J.cneler rccelpla evldenclnlll!!e paymenla, , . , '
llorroWef Ihall prompllY dllcharge III1Y lien which hql prlorllY IlVer Ihll Secllrlly IIISlrllme1l1 IInles, PlIrrOWefi la) ",rpp, 'n wrllln,I
Ihe paymenlllflhe obllSllll01llecure4 \lY Ihe lien In a mllnner acceplable III l.cnderi (II) cpnlells illsooel fa!'h Iha IIcn \ly, Pfll~fplllla ft,nil
enfOrcelllenl pf Ihe lien 11I.lesal proceelllns' Whlcll III Ihe l-eneler'lllplnlon cip'er~le 10 preyenllhe enforcef\lelll pflh~ IIplIi nf IF) a.F"
from Ihe holdef of Ihe lien all agreelllenlla,ilf~clllry 10 ,"ellller '"\1l1rdllllllin~ Ihe lien IA 11111 Sec"rilY ,n"fllmen', If ~napf a.l~fmln
Ihal any pari of Ihe PrllperlY il lubjecllP ft lIell whicll may all"in priority ovcr 'hll ;iecllrllY Inl\f"menlo J.encler m~Y ,IY~ pprfllWPf
nollce lelellllMnllhe Ilell' Ilorrpwcr sll~II'lIlllfy Ihe liell Ilr la~e pno or more pflhe IIcllolll lei fprlh aboye wllhin IP II\1Ya pflhp ,iYIII.
nOllce, ' , . i ,,',
$, "~m4 PF 'rppmy 'nlllrllncP. porrower Ihall ~eep Ihe hnprllvef\lenll IIOW ell III Ins or IIereaf\er precled Iln IIIe rfPp.flY In,"
asalnll lOla \lY fire, h~zarels incl"ded whhlll Ihe lerm "exlendecl cpyer~se"lInd III1Y olher h~zllrdl,lnclllllins nooll' Af 110nlllllll, fAfWlll~,
,"ellder reqlllrellnlurance. Thillnl"fllnce shall be malnllllne4 III IlIe "mounll ap4 for Ihe perloelllhllll-ender f.'1uirC4, 'flIe InlllfRn
carfier provi41nSlhe IlIlurllnce Iholll>e chosen I>y porrower sll\ljeclIn I-cnder'lapprAYIII which Ihall nOll>e Ilnrenlllna\lly Wllh"~III,
!lofroWef fall'lo mlllnl~11I coverase delcril>ed abQve, ,"eneler lOllY, all-ender's "l' lion, p\llaill coverase Iq prolecll-en4ef" rl,hll In Ih
ProperlY III accord~lIce wilh parasraph 7, . , '
. All hllllrllnCe pollciel PIl4 renewoll shalll>e IIcceplllble III ,"endef pnd Ihall inclllde" Ilqnelard morlsage claul., ~lIclPf .h"lI ""yp Ih
rllhllo hold Ihe poll*' alll\ renewals. If ,"en4er requires, pOrrPwer shllll prOmplly lIiyo III J.cndef 1I11 rpc:clpl~ Af plllcl pfPmlllmelll1
rellowalllollcel, In Ihe evenl oflolS, Ilorrower Ih~1I IIlve prompl nolice 10 Ihe InlllrllllCe cllrrler ~1Ie1 J.c1l4ef, H:1lc1pr may mft~ll prAllr prlA
If nol made PfllfOpllY \lY PlIrrllWer. . .. i ,,,'
Unles, J.cnder lInd tlorrower olherwlse IIgree In wrilllls, Inlllr~nCe proceedll~1I1I l>c IIpplled 10 feslorallon Ilr fppRlf pftlle rfPPllrl
II"magell,lf Ihe rellorlllion or repair is economicallY feasll>le 1I1111 J.enller'l secllrhy I, nOlle'lenecl. If Ih~ rp41prlllion Pf fPplllf Ie II
ecollomiClllly fea,II>Ie of ,"ellder's secllrilY wlIlllll he leslelle4,Ihe lnlllrllnCe proceedllhllll be l\pplled Iq 'he lum, 4ePllrp" "r 111'4 IlPcllfll
Inllrllme!ll, Whelllef!lr nOllhen dlle, wilh lIny ell!:C,1 pal41Q PQHAWer. IfllorrOWef al>l\ndpnllhe ProperlY, orllllP~ nllllln'Wef wilhin 3
dOYII\ nOllce from ,"enller Ihal Ihe Inlur~nce carrier hili offerell IP lellle II claim,lhen ,"ender lOlIf polleclllle iqlllfllnFe pfPcpe"" \-Onll
lOllY ule I lie "ro~eeelllo repair or reslore Ihe ('roperlY or Ip p~Y s"ml secllre" by Ihll !lecllrilY IlIsIr"men" whelher Of nollhen "liP, 'flI
3Q-4ay peri!!cl wllll>eslll when Ihe nOlice II Slyen, . :
ll. nlesl ,"enejer ~mlllorrllwer alherWlse IIlree III wrllins.lIny appUcl\llon ofproceell"o prlncipallhall nol elllencl PfpR~Ip'Rnp Ihpllit
dale pflhe mOlllhlY pllymclIII referreell!!11I parosrllphll ~nll 2 orchanse Ihe 1I1110"nl QUhe paYJllenll. If."nder plIfllSrllph ~I Ih~ rfll~r1
II acqulre4 hy ,"ellder, \lorrower's rlshllP any InlllranCe policies pncl prllceell' reslllllns from dal\1l1se Iq Ihe Pfoperl~ prlnf 'A Ih
IIcqllill!ionlllllll pOllio J.cneler 10 Ihe e~lenl pf Ihe lumllecllre4 IlY Ihl, Securily Inllrllmelll immedlaiely priAf 10 Ihe a~lllalllpn. !
4. pCPUPlll1FY, rr'~eru\lon, M~I!llp!lftnc. ftnel rfp"p,lllII pflhc rrppcrlfi PllrrPlm'. J.Ol\II.\ppllcll'lclJli ,.p"'Fhlll"', Pllrrnwer ahft
oCCllpy, ella\llilP, IIl1d u,e Ihe ('roperlY ~I plIrrllwer'l prlncip"1 rell"ence wllhlll II lilY III1Ylllfler Ihe elleculioll pH his SpcllrilY 'nslmmp
PIIl\ shall cOnllnlle 10 PccupY Ihe ProporlY 1\, !lorrllWer'l prillciplIl residence fpr allellllllne ye~r afler Ihc dlllC of Accllp~nFY, Ilnle88 J.cna
Plherwlle IIsreelln wrllllls, which conselll Ihall 1101 \Ie Ilnre~lon~bly wilhllelll, or IInlesl pxlenllalins ~ircumllall~'elll$1 Which RfF \lcfPn
llorrpwer', CQPlrol, POHOWer Ihall nOI IIellroy,clamoge or Implllr Ihe rroperlY,RlIllW Ihe ProperlY 10 IIelcrlQrale, orcp.lIlm" WlIlle Iln I
ProperlY.llofrnwer shllll be In "efllull If I\ny fnrfeilllre aclion Pf prllceecllns, whelllerciYII pr crlminpl,l. \legun Ihft,ln J.cnllH" 1I11nll fllll
Jlldllmelll cOllld resull III fMfeilllre of,he Property or III11erwlse malerlallY hllPlllrlhp lien Frp~lell by Ihl, !lecllrllY Inl'fllmp", Af I-pn"pf
lecurilY Ill\eresl.\lorrower f\lOY c"re ,"ch" IIefllllll alld relnllale, 1I1 prpylde4 ill parllllrllph Ill,l>Y callslllSlllo acllPn or pfllCCllIII"lI III
1I11111issel\ wilh 1I rullnSlhPl, in ,"ender'sllalld fllllh dPlermlnlllion, precl"de, fllrfeilurc oflhe !lorrower's l!!lerellin Ihe pfllpefly Pf Illhp
m~lerlal impllirmenl of Ihe lien crepleell>y IlIls !lecllrllY '"Slrllmenl Qf ,"ender'lleFllfilY In\erell. llorrQwer 'hall IIllq lie In lIeft'""
llorrllwer, dllrlns Ihe 10lln appllcalion process, save malerlallY flllso or,lnoccurale Informalion or Ilaleme!!11 III J.cndpf (Of fallFlI1
provi<le Len4er wilh III1Y malerlol il1formolipn) In cOllnecllQII wilh 'he loon eylllencecl IlY Ihe NOle, IIIcl1l41nll, \1111 11111 IimilPil I
represelllllliolll FoncernhlS \lorrower', accup~ncY of Ihe ProperlY 1111\ pfincipal relidence. If Ihil SocurllY Inalrllmen' ie An \I IPalf:hlll
!lorrower shllll complY wilh alllhe provilion4 ofllle loase, If \lOHPWer IIcqlllrel fee liIle 10 Ihe ProperlY, Ihe leasehlll" ftn4 Il1e fpe ,IIIp ,111\
1101 merse "nleSI ,"ender asrees 10 Il>e merger in wrilllls. : '
1. rro"clloll IIrJ-Cllder's Rlahllllllhe froperlY, If Ilarrower follllO perfarm Ihe coVonlln,s and IIsreemellll conlllllle" in Ihl, !lpcllril
Inllrllmelll,af IlIerc iSlllespl proceedlnslhl\l IIl"Y slsnificolIUy affeCI ,"enller's rlshlsln Ihe PraperlY (such liS II prpcce!lillllln \ll\II~m"IC
probllle, for cOlldpmnllllon pr fOffeilllre of III ellforce low, or resulollons), Ihen J.cneler may do anll paY for whllleyor I, "pcn8Rrf I
pralecllhe vallie of Ihe ProperlY alld ,"encler', rishls ill Ihe ProperlY, \.ellder'llIc!ioll. may IJlcl"de paYlns anY sllml ,ecllrol! l1y lIlIp
which has prlarllY over Ihll Securily Inl'mlllenl, appearlnsln cOllfl, pllYIIIS reasona\lle RlIorneyi' fcc, 1I11e1 enlerinll on Ihp IlfoPPflY I
mllke replllrs. Allhoush ,"elleler Illay lo~e IIcllon "ncler Ihi, parasraph 1, l.cnder dOPI nol \lIIVe 10 do 10. '
AllY pmounl, dlll>lIrsell I>y J.,onder IIn<ler Ihil p~rasraph 7, Ihl\lIl>ecome addilionl\l IIe\ll of lloHPwef apcllfe4 hY Ihl4 !lecllrll
IIISlrumelll. llnleu llorrower ~n" ,"elldef asree 10 pi her lerms of p~Ymenlo Ihele ~1I10UIII' ,hall pear illlefesl ffllm IlIp IIftlcllf ail\llllleme
alllle Nole role anel sholll>e pPyuble, with iqleresl, upnll nPlic. from \.cllder IQ 1l0rrOWef r.qllc~linll paymen\".. . .. ..
\l .' f110II11aa~ lnIUf~l\ee.lr I.ender reQl1irecl morlsage illlllrunCe pill condillon of I1lQ~lnglhe loan secllred "Y Ihi, Il~F\I"W lMltllfllell
aHaWer Iho~1 PUY Ihe premiuml required 10 majlllain Ihe morlgase josllrance hi effecI. If, for QIIY realOll, Ih~ mOrlllPlle Inl\l1
CQverpsc reqUlle" by J..ender lupsel or ceuscslo ". ill crfec, llorrower shull pay Ihe premluml requlroellll pl>llIllI cllverllle _1I11'IRnllal
eqlllVAlcnllo Ille mOrlllPlIc illsllrUllec llrevlollsly III crrccl: III II cOSI subslanlially eqlllv~lcnl'o Ihe casl 10 llorrQWer IIf ,lie marlllR
, fe'IlI 301' 'ISO (pm 1 0/1 P""
"uui. 1 OfM rAr.r H 4 fl
Inaurance previoualy In crfecl, frulII all allemal orlgase Insurer approved by lender, If Inb Ilully e'lulvalelll morlgase 1IIIurance
pov~rllsc 111101 availlble, Borr.owcr Ihall pay 10 lciider each monlh alum equllllo one-Iwelfth olllle yearly mprlsage illallrance prefllhllll
belns pal4 by Borrower when Ihe InsuranC!' Coverllge laple4 or ceased 10 be In effecl. J.cnder will accepl, Ule and relaln I~ele paYfllenlaAl II
/011 rel~r,Ve In lIe~ Offllorlsase Insurance, J.oss relerve paymenla may no longer be requlred,lIllhe opllon of lender, If fllorlaase Inaurllnce "
comaleUn Ihe amoUl11 an4 for Ihe period IhAllcndeffequlres) provided by all Inaurer approved by J.cnder again becomea IIYallllhle ""4
II pbll\lned, porrower Ihall pay Ihe premiums reqlllred Ip malnlllln Plorlsase Insurance In errecl. or 10 provide a losa rClerv~, "nllll~e
requlremenl for Plorl_asc Insurance e"ds In accordance wllh any wrlllen agreemenl belween Borrower and J.cnder pr appllcallle IIIW,
II. '"lp.ellon. LeI111er or itl asenl may make reDlonable enlrlea IIpon and inspecllonl of Ih~ froperlY. J.cnder Ihallslve porrower
nollce allhe time of or prior 10 an Inlpecllon Ipeclfylns reasonable cause for Ihe Inspection,
'II, CondCl1lnallon. The proceeds orany award orclahn fordamagu, dlrecl orconseqllenllal,ln connecllon Wllh allYcol1dem"allon
or 01 her lakins of any pari of Ihe rroperly, or for cOlIveyance III lIell of condelllllolion, arc hereby a88lsned and ahall be paid 10 J.cl1der. I i
'" Ihe evenl of a lolal laklns ofll1e rroperly, Ihe proceeds ahall be applied 10 Ihe suml8ecllred by Ihls Secnrlty InalmPlenl, whell1er or . I'
nOl '~en due, willi any excess paid 10 BorrQwer. In Ihe eVel11 of a parlial laklns of Ihe rroperlY III which Ihe fair mar~~1 VWllle of I~e
rroperlY iPlmedlalely before lhe laking Is equal 10 or srealer Ihall Ihe amounl oflhe sumlsecllre4 by Ihll Secllrlly '~slrllmenllmmelllalely
before Ihe laltlns, IInlell POffOWer and ,.ender olhcrwllC asree In wrllins,lhe IlImslecure<l by Ihla Securily IlIllr\lll1cnl .hall be re!luce4 by
Il1e amounl of Il1e proceedl multlplle<l by Ihe followlns frllCllolI: (a) Ihe lotal all10unl of Ihe l"ml8ecure<llmme~laI9'Y ~ef!lllllhll lakins,
divided by (b)lhe falrm3rltel value oflhe ProperlY ImmedlalelYbefore Ihe IpklIlS, Any bal!lIl~ll1all be pal<llo Porrow~r, In Ih~evenl ofll
parllal la"lns of Ihe rroperlY In wlllcl1lhe fair marlcel value o( Ihe JlroperlY Immediately \Jefore IIIe laklnsllles~ Ihan Ihe amollnl pf Ihe
allmlsecllreeJlll1111edlalely before Ihe lakins, ul1lelS porrower al14lel1eJer olherwlse aSfee In wrlllps or unleu appllcabl~ law plherwlae
provldel, IhD proceed a shall be applied In Ihe IUml lecure<l by 11111 Securlly Inslrumenl whelller 01 nollhe lum~ arc Ihen III1D.
'flhe rroperlY II abandoned by Qorrpwer, or If, aller nollce by J.cndeflo porroweflhal Ihe condemnnr pfferalo ma"ll "" IIwar4 pr
lellle a claim for clamasel, QOllower fallllo relpon410 Len4er wlll1ll1 30 daYI after the dale Ihe nOllce Ilslven, Lender I~ aUlhorizec\ III ,.
collecl and applY Ihe rrocee<l.. al ill opllon, eilher 10 rCllorallon or repair of Ihe rroperlY or 10 Ihe suml sepllre4 lIy Ihlll'iecllrlly
1I111lUmenl, whether or nol Ihell <lue,
Ulllm J.cllder and Borrower olherwlse asree In wrllil1S, any appllcallon of proceeds 10 Jlrlnclpalahall nolDxlen4 or poslpone Ihe due
elale of Ihe monthly paYl11enls Icrerre<llo III paragraphs I alld 2 or chanse IlIe amounl of Ipcll paymenls. '.'
". Pllrro"Ft NIII ...Ioascd; Forll.arllne" Bf ..",<ler Nol II Walm. Ilxlenslo" pf Ihe lime for paymenl pr modlOPIIUlln IIf .' I,
amorllzatlon onhe ,uma secured by Ihls SecurllY 'nslrpmenlsranleeJlly Lender 10 any succesaor I" InleresI O(BoHIIW~r allall nil' II~rllle : I
10 releaae Il1e lIa\lUllY pflhe orlslnal Borrower or PprrAWer's Sllccessou in Inleresl. J.cnder ahall nol be requlr~d 10 cpmmence prllt:ll04lnlls, ".' L
alalnlt any succellor In inleresl or refllse 10 exlen4 lime for paYlJlenl pr pll1erwlse m041fy "molllzatloll pf Il1e alll\1' sellllrll4 lIy Ihl. ,,";'
Secllrlty Inalrllmenl by realon of any de,!!and made by Il1e orlslnalPorrower or Borrower'a ~ucceslorsln Inlelell, Any fpr\le"lalice ~f ! :=,
J.cll<ler In cxercl-Ins any rlshl or remedy shall nol be a waiver pf pr preclll<le Ihe exercise of Ilny rlshl or reme4y, . i":
'1. 8"ecellor" IIn4 ~lIllnI Boundi ,JollIl ancl Seyer", "'abllllfl Co-SllncfI. Tile cpvel1anls and aareemenla of Ihla llecuriIY:<,
Inslrumenlll1l1ll bind and bellenllhe SUCCClsors and asslsns of J.cn<ler all<' Borrower, aubJecllo Ihe provlslolls o( parllllraph 17, ;,;.
Porrower'l covellpnll an<lasreemenlSlhall beJollI1 IIn<lseveral. i\ny porrower who cO-lisna Ihl~ SecurllY Inllrumellllllll 40ea nnl execule I:;'
Ihe !'iole: (a) I, cQ-II,nlnSlhls SecurilY Jnslrllmenl only 10 morlsase, sranl an4 convey Ihal !lollower'.lqlerell III Ihe rrpperlY ""lIllr Ih. 'I""."
lerms of Ihla Security InllrUl11enl; (b) Is 1101 perlonally obUsaled 10 pay Ihe sllmslecllre<l by Ihll Securily Insll\"lIenl; IIn4 (p) allft:lla IIIa\ . "~,
J.cnder an4 any AI her Borrower may asree 10 eXlend, moclify, forbear or make any accommo<lallonl wllh resard 10 Ihe lerms pr Ihl. ,! ;i::
SecurllY '"slrull1enl or Ihe tiole wilhoul Ihal Borrower'a cpnsenl, ' ,j :',
p, "pan Cllar...... Iflhe loan securecl by Ihla lIepurilY Instrllmel1lls sllbJecllo II law which aela maximuPlloan cllarsel a1141/1111 law 1"1 ~t,
finallY Inlerpreted an Il1allhe illleresl or 01 her loan charscs colle*<I pr 10 be collecleelln connecllon wllh Il1e lOan ellccecl Ihe pcr",III~4 j;,p:
limi!a, Ihen: (a) lInY Illch loan charse shall be reduced by Ihe IImOllll1 pecessary 10 red lice Ihe charlie 10 lhe permllled IImlli Anel (b) IIny a"m, : ;,;
alrea4y collecled from porrower which exceeded permlned IImlls will lie rcfllnded 10 BOllower, Lellder may cl10llse III ma"e 1/11, refllnd by l.;.
redllClnllllle principII owe4 IInder Ihe Nole or by ,"aklns II dlrepl paymepllo Porrower. If a reflln<l reduces principal, Ihe reducllon 11'111 \Ie :':.
Ireated aa a parllal prepaymepl withoUI any prepaymenl charse Ilnder IlIe tiole. . "i
.... NQllcCl, Any nOllce 10 Porro\\,er provlde<l for in Ihls securilY Instrumenlshall be S!ven by <lellverlnsll or \ly mallll1~ II by firsl : '.
clqss mall unless applicable law reqllires use of anal her melho<l. The pplice shall be direcled 10 Ihe ProperlY A<ldress or IIny Plher IId4res.: ,:
porrower lIellsnalee by pOlice In J.ender, Any nollce 10 J.cnder Ihall be siven by firsl clase lIIailto "'ender'l a<l4resa alllled herein or IIny : :
01 her q<l<lre" Lenderdeslsnales by nolice In Porrower, Any nolice prnvldecl forln Ihle S~cllrlly Inslrumenlshall be 4eeme<l III hllve bce" ',i'
SIVen 10 Borrow~r or J.cn<ler when slven as provl<led In Ihls Pllrasraph, ; I
,!t. Qomnllll ""'i 8mrllbllllJ. This Secllrlly Jnslrllmenlsl1alllle Sover"e4 by fe<lerallaw and Ihe law or Ihejuria<llcllon In which !
Ihe prpperlyls locale<l. 'n Iheevenl thai any provlsloll or clause oflhls Securlly Inslrllmenl lIf1he tiole conOicls wilh appllcabl~ law slICh
cOl1mclshall !lol IIff~cl olher provisions oflhis Securlly Inslrllmenl or Ihe liolc which can be IIlven effecl wllhouI Ihe conOlcllns prlly\sIQIl.
To Ihls end Ihe provisions o( Il1ls SecnrilY 'nslrllmenll\nd Ihe liole lire declare<llo be seyerl\ble.
'lit POrrll19or" COP1, Ilorrower shall be slven p!le conforme<l coPY of Ihe NOle IInd pf 1~ls Securily Iqslrllmepl,
17. Trl\~f'r 1I'llIc Properly pr a Beneficial 'nlelfsl III Jlorrplf.r, If "" or any pari Qflhe ProperlY or any Inlerealln II ia aolel pr .
Irans,erre4 (or Ir 1\ ~ellenclal inlereslln BorrOWer Is aold or Iransferte4 and Borrower la nol a nalural perspn) wilholll J.cllder', prior
wrlllen conlenl\ J.cnder mAY, 1\1 ill oplion, reqlllre Immedlale paYflIenlln filII of all suqis secured by Ihll sec.urllY 'n&lf"IIIenl, tfllwcver,
Ihla Orllo" ahal nol be exercised by Lender If exercise is prolllblled by federal laW as of Ihe elate of this Securily Il1alrllmenl,
, I,'; I J.cpdet c~erclsellhll oplloll. Lender Ihal' slve Qorrowe! notice of accelefaUon. The nolice shall provide II pcrlo<l ofnol lelllhlln 311
, du,frol1llhe da!Q Ihe IlOtlco /. <leliverecl or 1II11lled wll"ln which BOHPWer musl pay all allms secured by Ihla SecurllY Inllrllment. If
borrower fails III paY Ihese suml prior 10 Ihe explrallon of Ihls periOd, "'en<ler may Involte IIny remedies permlll~d Ily Ihl, Ii~cllrlly .
Iqslrllmenl wlthoUI furlher 110lice or demand on POffnwer.
,'. Pllrrlllm'a 'UII1I III "clnl'"I~. If Borrnwer meels cerlaln con<llllons, Borrower shall \lave Ihe rishl 10 l1ave enfQrcemenl of Ihls
SecllrllY 'nllrumenlllisconlinue<l alany lime prior 10 Ihe earlier of: (a) S <laya (or SIlC" ol"er period as applicable law may apeclfY fpr .
relnllalemenll befornale oflhe rroperly pU!Quanl Ip allY power ot laic conlalned In Ihll Secllfily Inllrument; pr (b) enlry ofajll<lsmenl
en'eltclllS Ihll Secllrlly Inslrllmenl. Those condlliolll arc lhal Dorrower: (a) paYI Lender 1111 SUIIIS which Ihell would be due IIncler 11l1,
Becllrlly Inlltllmenl an4111e Nole as if no accelerallon had occurre<li (b) Cllres any deraull orany other covenants or IIsreemeqll; (c) pays
In ~xpenlellncurred In enforclnslhls Secllrily Il1slrumenl,lncludll1s, blllqol IImlled 10, reasona~le allorneys' fees; and (<I) talce, IlIch
acllon as J.cn<lermaYreasona~ly require 10 aSlure Ihallhe lien oflhll Security Inllrumenl, L~nder's rights In Ihe ProperlY l\n4 porrower"
oblllalloll 10 pay IlIe sumssecure<l by thll Security Inslrumenlshall conllnue IInchansed, lJpoll relnstatemenl by Qorrower, Ihl. !!~cllrIIY
'"llrumenl and Ihe obllsallons securD4 hereby shall remalll rlllly effecllve as If nQ accelerallon ha<l occurre4, However, Ihla rlshlln
felnllllle shall nQlapply In Ihe case of accelerallon IIn<ler parasraph 17, .
1<1111.8111. orNolII Chllnle of Loan Serv/cer, The Note or II parllalinlereslIn Ihe Nole (togelher wllh Ihl. SecllrllY Inalrllm~ntl IIIay be
~~\I ore or more Urnes wllhoul prior nollce 10 Qorfllwcr. A sale may realllllll a chanse In Ih~ entilY (known ~ Ihe ""'p,,"llervlccrl~ Ihal
unr:'II:::onlhIY pllymenls <lue un<ler Ihe Nole an<llllls Securily Inalrlllllenl, There also may he pne or Plore ehllnsel prth' l-P~lIllon~r
wllh parll 10 IIhlale oHhe NOle, Iflherels a chauge orlhe Loall Servlcer, Borrower will be slv~n Wrlllen nollce oflhe chanse 11\ RellQrl\l\ll\1t)r~1
. Irhlp I~ abQye an<l applicable law. 'The no lice will slale Ihe nome and address oflhe new Loon Servlcer anellhe ad4rnllll Whlct! ,''if
pllYPlenll s auld be m d Tl liee will alan cnnlah, '
a e. Ie nn .ny oll.er Inrormallon reqlllre<l by applicable lo\\'.
___ t () 8 r',1I13039 (9/90) (POI' J pN po,,,)
nUOK , <1 "^C( h<,\, I
.
1Q, Ihz~rIlQ~~ SlIb"lne'e. Dorrower IhllllllOI CAllIe pr permlllhe prelence, lise, dlspOllll,llorAlle, or rc1cllle pf !lny IIl1zqrlllllll
SII~lllIncel PII or In Ihe ProperlY, Dorroweflhllll pOllio, par liliaII' IInyolle elle 'A 1111, anYlhlnSllffecllnslhe ProperlY Iha,l.ln viol nil on II
IIny'Pllvlroiimelllal I.AW, The precedlnslwo leplellcellhllll 110' IIpply III ,he prelel1pe,lIlC, pr Ilorase on Ihe ProperlY of Imllllll"l\n'lIie~ II
III1ZArdo1l1 !ll/bllAPCes Ihalllre senerAlIy recosnized III be IIpproprll\le 10 normAl rellllenlllll IIsel IInd 10 fllllllllellllnc~ pf Ihe PrnperlY,
, porrower Ihall promptly Illve l.el1der wrlllen 1I0llee of III1Y InVeslislllloll, elalm,lIemllnd,lAWl\lil or plher IIc,lon by IIny JQYHnmcn'AI
or regulAlory I\gency or prlvA1e parlY Involvlnlllhe ProperlY qnd I\ny III\Zllrdolls SlIbs'nnceor Pllyironmenlall.nw pfWhlch PllrfPWPfhlll
lIelllal ~nowledse, If narrower lellrnl, pr Is noJiriell bY Any Sovernmenllll or reglllAlory IIl1lhorllY, Ihal any remoYll1 pfll'hpf fPm~iliRlllln II
IIny lIuzurdoll' SlIbllllnce Arfcclinslhe l'roperlY Is necelsAIY, porrower shnll prompllY III~e IIl1l1ecessAry reme<lIAI Aclion~ IlIlIPCorilllllco
wllh ~nYironmenlllll.llw.
As IIlc<l Ip Ihls pllrRsrllph 20, ""IIZAr<lolll Sl/bslllnCcs" Me Ihose IIIbslAncel IIcrined AS 10Klc pr hAZllrdoll1 ",\I'lllnPl=' IIy
IlnvlroAI11Culnll.AW Alld Ihe followlns subslPllcel: sllsolllle, ~erosene, o,her OllmmAbleor 10Kle pelrolellm prodl/e18,'o~lo pelllcldee Rnll
herbicldel, yolllllle SlllyenlS, mUlcrhlls conlnlpln8 nsbcslos or formnldehyde, AnI! rlldlPAC,lve mUlerlAII, 1\IIIIellln ,hll pllrAsraph 7Q
"llnvlrollmePlAII.qw" means fedcrnllnWI nnd IIIII'I pf Ihe Jllrlsl\lcllon where IIle rropcrlY Is 10cAlel! lhal relAle 10 henllh, .~feIY II
envlronmenlal proleeliol\,
NON.IJl'llfOl{~ COYl1NI\l'lTS.llorrower pnd I.ender further covennnlllnl! asree liS follows:
11, Aml'r~lIpnl 'h""d!... I.endef '''~Il ,If' no\l~c ,n ""rrnlm prlpr III "ml'r~IIR" fllllowln, PRr,pwFf'. f1ff~~h Rr "nf Film""
IIr ummeRI '" lhl. S'~lIrllf In"rllm'nl (hilI nlll prior 'II RmlerRllp" Mllller P"f"'fftph '7 Mllle~~ "ppll~bl, '"" prRYI~,. IIlh'f"""
1,,"4', '''~II nRlIIr III1"nw" pr, ~mnll' R'h'f Ihln,,, (ft) Ih. ""ftlllli (h) Ih, IF\lnn f''I"tf'" '" ~lIr' Ih, "'fftMlli (~I1Th'n lhl tI,r"III' mIM
h, 'I"FlIl ""41"11l1~1 '11I1Ir, III FllfF Ih, ",fft"" ". 'I"~'"'" mRf mllllln "",I'felln" IIi I'" ~Ilm~ "~lIr'" IIr Iht.Ii'fllrllf '~I"'mflll
(ur,c'nlllf' "r Jlldlc'"' r.rpc',lIln, IPe! ~I. Ilf 'h' Prpp.rlr, J.,"llFf '''In '"rlh,r Infpfm "p"nw', Rr "" rl'M 'II "I"~I~I. .n
1".lmlloll .ncl,lI, rl", 10 111'111" Ih, '0,,'101'''' p"",,1I1n. 'h' non-,.II',n', R' " """111111' ""f PI"" ""'114' III IIII"A"" ,
Ice.l,,"lIon ~n4 fnnclo,"". I"he ".f.1I11 141101 ~Ilr." ae 'p,~I",II, I.,"I1Ff"1 II. pplllln m~f ",,"lr. tmll\"II.I. plfm,nll" ,"II "f"" ~
"c~r.lI /lr Ihl. !l,~'"I'f Instlllmenl wllhOll1 flllllm !l,mlne! """ m.f 'or,~lp', l"Ia !l'~lIrllf 'P"fllll\.nl hf Illtll~IRI pf,,~,,"ln.., ,","",
.h.1I /I, .nlllle" In ~pll.~1 .11 "pen... IlIc"",4 In pllr."I"llh' f,metll.. prllYlde41n 1,,1. p.r.,r.p" 11, I",,,.4In,, hili pili "m'I'~ III
.1I11rper.' f'" ,,"4 CPI', pf 1111, ,,'d.ne, IIlIIIC ..1'111 pr'mlll'" hf .pplle.IIle I.". .
11, Ihl.....lJpOI1 puymelll of 1I11111ma secured /lY 'his SeellrllY Inslrllmenl,lhil S~eurlly Inslrumenlllnlllhe PSIAlo cllnymcl \~"I
lermlnAle qp~ /lccome yold, Mler slIcll pccurrence, I.ender shllll ~Ischarge pnd sullqfy Ihla SecurllY Inslmmenl WllhPlI1 fh"f'~ I
norrower. porrower '!Iqll pAY uny rpcor411110n cp~ls, "
~:t. Waly,,,, porrower, 10 Ihe eKlen, permine" /ly pprllCllble Inw, wulVes nnd releuselllny error IIr !Iefeclq In prpc~elllllSalo pnfll '
Ihls Seeu,ity Insllllmenl, un<l hereby Wlllyes Ihe benpfil Pliny presel1' or fulllle laws prllvldin8 for Ilqy pf CKeclIl!on, px"psion pfllm'
eKempllon from nlluchmenl, Icvy u"d snle, pnd home*nd eKpmpJion. '
14, R.lnal"I'''''''1 P.f'lu<l, porrower'sllme 10 rplpslple pmvll!pl! In pn.rugrllPh I~ shllll pXlel11110 on= hOHr priof IlI,hp r.om,"ene9m~n
pf bidding AI a Iherlff's sple or olher lule PUfSIlUlI1III Ihll &ePllrl'y InS'rllll1el1l. '
15, ""rfh... Mlln.r l\'Iorl.n.', If UI1Y pf Ihe flehl sePllrell !>y Ihis Secl,rilY In5\[lImenlls lepllo llqrrllWH In Ilc'llllr~ IIIIp IR Ih
"rllp'eIlY, Ihls SeellrllY Inslrumenl shull /Ie" pllrchue mqn~Y mprl.Q.e, ' ,
l/i, Il1lf'fa' R"" I\f/cr ~ud.m.n'. PoHOwer pgrpellhllllhe Inleresl rp'c ppyqble IlrlP! A ~udsmenlll en,erCl\ pn 'h~ Nlllo Pf I~ A
"cliop of l11ongU8e foreclosure shqll !>e Ihe mle pllYllble from lime 10 ,ime IInder Ihe Nple. " , : .,
17. ltlllfn III f1d~ SecllrllY Ins'rumep" If ope pr more rl<lers life eKecule<l /ly J!qrrower IIn" recortlCl\ logelher wllh Ihls sepllrll
Inslrument, Ihe coVenunls and Agreemenls of eAch sllPh rider shpll /Ie Incllr. porulelllnlll An<l shull amenllllll<l sl/pple"'~nllho eoyenAn'
nn<l Agreemenls of Ihis sccllrily loslrUl11enllls If 'he rldcrCs) were II purl of Ihls SecHrilY Inslrllmenl. rChe~k IIprll~lIl!le I>nll(o'))
jJII AdJuslllPle \tUle !tlder q Conl!pmllllllm !tlder q H fumlly !tIller
o Orudllalcd puymenl I\lder q PIQnne<llJl111 peYclopmenlltlder q lllwee~ly PPYl11en' \tiller
I=lI!QIlOQp !til!er q !tllle Improyemenl!tider I=l Sccond HplI\e Riaer
o Olher(sHspccifYl
py SIQNINQ PIlI.OW, Pllrrllwer IIccepls IInll purees 10 Ihe ler,"~ IIlllt covenplllS cpnlultled in 'his Secnrlly lOS'rllme"I A"eI Inlln
ri<lcrCs) execllled !>Y narrower IIlId rocorde<l wilh II,
Wilnesses:
"" .',(k.t.~~A4,.."''',,,,
iJ!../Mli.1 ?t CR.it,
,....,.... I..... .,... . t. t, t... ".., 1" It." . t t t 1 t t,.. (fiS:AI
pel1n~B 1-. P~t -llurfllWo
~......,.,..,~..,~i..,~~~~~.,.....
v..... U"
~
'.1")
C'I.
Social Sccurily Nnm)Jer ,......,..,.,.. r" '~r t., t t f"" t' " ,
.. ':-r~;y;'I._.tIA/JJ1~""""""'" ." ".,.., (Selll
1<imtf~li.y s. OtU -Porr~we
Sociul Secllrlty Number
, . . I . . , . . . . . . . . . . I , t f ~ . f ! I . , , , t . , t t t
ISp'" B.low T~I' Ilnl fo, ^cknowl.d,lIl.nll
G~
Tille of Office,
PUf 'lJ84 I'ACi: 114',
fOflll JOJ~ (~/gDI (/'"N<" ,{., /'"N'
ADJUSTABLE RATE LOAN RIDER
",
,.
NOTICE: TIlE SECURITY INSTRUMENT SECURES A NOTE WHICH CONTAINS
A. PROVISION ALLOWING FOR CHANGES IN THE INTEREST RATE. IN-
CREASES IN TIlE INTEREST RATE WILL RESULT" IN HIGHER PAYMENTS.
DECREASES IN THE INTEREST RATE WILL RESULT IN LOWER PAYMENTS.
This Rideris made this. . .~~. .. .. day of. , .. ~y.. .. ...... .. ., 19., ?~.., and is Incorporated into and shall be-
deemed to amend andsupplementthe Mortgage, Deed of Trost, or Deed to Secure Debt(the "Security Instrument" ofthe
same date-given by the unde~isned. (tbc'''Borrower'') to secure Borrower's Note to ,.... . . . . . . , . . . . . . . . . . . . . . . . . . .
ORRS'IOWN BANK
...... .'... ._.......... I..' .1... ... I....... .......t.......... I_I................ 11.111,1....... ....... I,..................,......
(the- "lender" of the same date (the "Nole" and. coverin8 the property described in the Security Instrument and
located at . ..lll2..r.o~ .I)~,. .~b~PP,"o.lIPA:r;'i".I!.a". j..7.'1,!iT. ......................................... .,
Propt"Y Addrt.s.s
ModlncadoDl.ln addition to the covenants and agreements made in the-Security Instrument. Borrower and. Lender
further covenant and. agree-Ill follows:
A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
The Note has an "Initial Interest Rate" of.. Z: 7;;.. ,. %. The Note interest rate may be increased or decreased on the
. . . . fP. . . . day ofthe month beginning on . .-l\l.lll!. . . . . . . . . . . . .. . .. . , , 19, . ~ f, . , and on that day of the month every
. . . . 1.2.. .. months thereafter.
Changes in theJnterest rate arc governed. by changes in an interest rate index called the "Index." The Index is the:
[CMckoMbo.l:to Indlt:ott lndt.r.)
(I) O. "Contractlntercst Rate, Purchase of Previously Occupied Homes, National Average for all MajorTypes of
Lenders" ~blished. by the Federal Home. Loan Bank Board.
(2) ~. . 'wllcltJ.lC .aVAUIlI!. .It:l.l'J..d. .Q\1. ~ll:l.~I!.d. .~~il.t;lll;l. :r.J:Q'lIl1.!;y. ~M'l;i.kj,~I;I. ~.qj\I!lkl!4. !=,o. .l!-...,
. .....C,QD.StAnt.tDA.turitiY.Af.on.~ .YPA~. to 'f_ 10... ....... to .t. 10 to to to. t. to.t ......t.. ...... to to to.t to
[Ch~ck ,h, approprfall box(tl) 10 Indicate whtthtr ,h,n u any maximum liml, on i"IIfrst rattchanlutl1ld/ or IimltJon ,h, '"linn ra" undtr ,hi NOli:
Ifno borfs chrc:Jud./h." will btn. mulmum limit on ch"""und no IImlu on Iht In""" ,.".]
(1) 0 There is no maximum limit on changes in the interest rate. at any Change Datc;
(2) Gl The interest rate cannot be changed by more than. .. .~. .. .. percentage poinu at any Change- Datc.
The:lmerestrate.will never be: more than 1? 70; % Dr less .ban T.50 %.
Ifthe-intercst ratechangcs, the amount of Borrower's monthly paymenu wiU change as provided in the Note. Increases
in the interest'rate will result in higher paymenu. Decreases in the interest rate will result in lower payments.
B. LOAN CHARGES
It could. be that thc loan secured by tbe Security Instrument is subject to alaw which sets maximum loan cbarges and
that/aw is interpreted so thattbe interest or otbcr loan charges collected orto becoUected in connection with the loan would
exceed. permitted limits. If tbis is the case, then: (A) any such loan charge shall be n:duced by the amount necessary to reduce
thechargc to the permittcdlimit; and (B) any sums already collected from Borrowerwhichexcccded. permilled.limits will be
refunded to Borrower. Lendermaychoose to make this refund by reducing the principal owed. underthe Note orby making
II. direct. payment to Borrower.
C. PRIOR LIENS
If Lender detennines thaI wi or any part of lhesulDS secured by this Security Instrument arc subject to alien which has
priority over this Security hutrument, Lender may send Borrower a notice identifying that lien. Borrowershall promptly
act with regard to that lien as provided in paragraph 40flhe Security Instrument or shall promptly secure an agreement in a
form satisfactory to Lender subordinating. that lien to this Security Instrument.
D. TRANSFER OF THE PROPERTY
If there is a transfer of the Property subject to paragraph 11 of the Security Instrument, Lender may require (I) an
increase in thecurrcnt Noteimerest rate, or(2) an increase in (or removal ot) tbe limit on tbe amount of any one interest rate
change (if there is a limit), or(3) a change in the Base Index figure, or all oftbese, as acondition of Lender's waiving the
option to accelerate provided in paragraph 17.
By signing this. Borrower agrees to all of tbe above.
. . . . .~0.:i1. ..I. . . ai/::::. .. .. . . . . . ., (Seal)
- Borrower
i 1/ './ rffL-
,. .':(."';!.: ?:'f,l.ilj2"W, ,'111." " ..." ........... (Seal)
-Borrower
-If morr than ont bo:c is chrcbd or if no box IJ ch,cbd. and und~r and Borrow,r do no' o,h,' , a,rR in wrilln,. Ih, jlrlllnd,x nam,d will appl}l.
NEW JERSEY AND PENNSYLVANIA
......,IIlVI......'OAMUS...IIJIIW.1/1J1
BOOK 1084- PAGE 849
"
-
AkJUSTABLE RATE' NO'ut
~ .." .
-
.. .-.
NonCE m BORROWER~ THIS Non:. CONTAINS, A. PROVISION ALLOW-
ING iOIt CHANGES- IN mE INIEREST RATE'. INCRliASES IN. 'IIIE
INTItIU!Sl' RATE WILL RESUI.T IN BIGHER PAYMENl'S. DECREASES
IN 'tBIt IN.'l'I!RI5I RAn: WILL RESULT IN LOWER. PAYMENtS.
.....~x:..~ti,. .................. ......... to ..........19.. .~~ I
.. t_.... ,SJt;LpP!lp.plJpJ:s".. ........... ._.... t'. o.!?!l:-.. ..... I . I . .. t., t_
City
Slatt
.....l:.O..~..lfqq~~t\'{ .~t;'................ ,_.>, ..~P~PP'1l'9\l;g... .. .. I' .~Si......... ....... ...... J..l??!...,.. .... .0' ,.,...
Property Addrm City Statt. Zip Cod~'
l~ BORROWER'S- PROMISE TO PAY
In retUrn for a. loan' that r have received, I promise to pay U,S. S. .7,'1,..0.0.0.-.0.0. . . . . . . . .. (this amount will be
called. "principal"), plus interest, to the orderofthe. Lender. The Lendeds . .q1Hl~:r.q~. ~~. . . . . . . .. . . . . . , . .. . ,
P.O. BOX. 60. Orrstown Pa. 17244
................-...................................................................................................
L undentancL that the Lender may transfer this Note. The Lender or anyone. who takes this Note by transfer and
who is entitled to receive payments under this Note: will be: called the "Note: Holder" .
r.. INTEREI'
Interest: will be: charged 011 that pan of outstandins prlncip'aJ which has not been paid. rnterest' will be charged
beainning on the date 1 receive principaJ and continuing until the full amount of ~rincipaJ r receive has been paid.
Beglnnins on the date of this Note, r will pay interest at a yearly rate of . t.~ . ~. .. .. . .. .. .. Of, (the "Initial In.
terest Rate!'). The interest rate that 1 will pay will change in accordance with Section 40fthis Note: until my loan is paid,
Interest rate. changes may occur-on the . .~~. day of the month beginning. on .'. .!1l!y. ,. . . . . . . ,.. . . . . . , .. .. .,
19_~~:_ _ andon that day of the month every . . . . .1,2, . .. . , . , . . . . . monthsthereafter. Each date on which the:rate
oflntemtmay change: wlll be: c:alled. a "Change- Date.".
3'., PkYMEN-~
(A) TIme and Place: of Payments
1 will pay principal and interest by making payments every month. 1 will make my monthly payments on the
. .~6. day of each month beginning on .. .June. .. .. .. .. . . ., ... . . .. ..19. .92..1 will make: these payments
untlll have pald all of the. principal and Interest and any other charges, described. below, that 1 may owe: under this
Note:. L will pay all sums thatr owe: under this Note po later than . . . . . S:-28:-17..... .-. .. . .. . . . ., . H . . , .. . .
(the- "final payment date").
Lwillmakemy monthly paymentsar.. .E.O~ .BolC:.6Q...,Ql:I:at:;o,w;tt. ,P,a... J..:n..4{+............, ...,..
...... ........... .. ........ .......,...... .. .. . .orat adifferenLplace:if required by the Note Holder,
(B) Ronewer's PaymenlS Befol'e'They Are Due
r have the right to make payments of principal at any time before they are due. A payment of principal only is
known ILl a "prepayment". When I makea prepayment, I will tell the Note Holderin writing that I am doing so, 1 may
make. a. full prepayment or- a panial prepayment without paying any penalty. The Note Holder will use all of my
prepayments to reduce the amount of principal that I owe underthis Note. If 1 make-a partial prepayment, there will be
no delays in the due dates of my monthly payments unless the Note Holder agrees in writing to those: delays. My partial
prepayment will reduce: the:amount of my monthly payments after the first Change- Date- following my partial prepay-
ment~ However, any reduction due to my partial prepayment may be offset by an interest rate: increlLle.
(C) Amount of Monlbly Paymenu
My Initial monthly payments will bein the-amount of U.S. S.. 543-.7.8.. , .-. . , _. _.. [ftheinterest rate
that I pay changes. the- amount of my monthly payments will change. Increases in the: interest rate will result in higher
payments (unless my prepayments since: the: last Change Date offset the increases in my monthly payments). Decreases
In the interest rate will result in lowerpayments. The: amount of my monthly payments will always besufficient to repay
my loan in full in substantially equal payments by the final payment date. In setting. the monthly payment amount on
each Change Date, the Note Holder will assume that the Note: interest rate: will not change:again prior to the-final pay-
ment date.
.. .,
."
EXHIBIT.
1_
PEnsn.VAlIIA AIID NEW JERSEY - ADJUSTABLERATt: LOAIl NOTE 1M....'
; :.-B,--
AUATATP_T1ONAI.
.... INrERES'J:'Il.A.'IECKANGES
fA} ,'IbelDdu.
Any clwlges lntheintetat ratewill be bued on changes in an interest rate index which will bcca11ed.the"lndex."
The: Indexls the-.JC1IfoIe _60"'0 /ttdkol,.lrtdlX.]
(1) O. .ContraCtlnterest Rate, Purchue of Previously Occupied Homes, National Averagcforall Major
TYPesor~de~Eu~~~~~~ ~~l!~~;~1~.~W.~!!~\~~~~t;!l.B.:;:~!,:8_~:r._~~~!1.rj;~~.l! .~~)~~~~~ .~~.
..!L.....~~.~~~~...tI!:'!-Rt::'.t:7"'...q~...~!\I!-.Y!J.8;r;.:-.. ...... .....1..0 ......... "' ......... ................. .................. ,. '",' ......
If the Indexc:eues to be made. available by the publisher, or by any successor to the publisher, the Note Holder
will set the: Note. intercltrate by wing acomparable index.
(B) Settln~theNe~InterestR.te , . '. 2..75
To set the new Interest rate, the' Note Holder will calculate my new mterest rate'by adding ...............
~~~~;~;~~; (~: ~;7:f : : %);~ ;h~ C~~~~'l~~ie~:n;~ C~~~~'l~de~ fi~~h ;b~ ~~;;;;c~~~ 'I~d~~ fi~~ ~~~l'a'bl~
. !+p, . . . . .. days prior to each <?tan~e pate. The Note ~older wi~ t~en round the result of tM addition t? the nearest
. ').J.Q .. . ... of one perccntagepolnt(. .'. .~. . . . %). Subject to the limits stated below, the rounded amount will be my new
intemtrate.untilthenext.Change Date.
[CMck 1M opprop""'; bo.r(a) 10 I1Idiu.. whllhtr 'M" /J"", moximunlllml, on In"'... '0" ch4nruandJo, IIm/uon .h./n"...., 'Oil ruuIor Ih/J nOli:
/f1lO bt>>clsch<<kod. IhntwI/J". no moxtmum limit oncJumzaond no Ilm/u on'M I1I"ru' ,....]
(1) 0 If this bolt is checked, there will be no maximum limit on changes in the interest rate up or down. The
preliminary rate will be:the.new interest rate. .
(2) CI If thiS bolt is checked, the interest rate will not be changed by more than .. . ;L. . . .. ~ percentage points
on any Change Dste. The Note Holderwill adjust the preliminary rate so that the change in the interest rate will not be more
than thst1imit. The. new interest rate will equal the figure that results from tM ad~tment of thepre1iminap:Thte.
(3) [J If this box:is checkcd,the interest rate will never be morethan .... :1.5... %orlessthan,...";...... %.
(C) EfrectiYe Date:ofChaDces
Each new interestrate will become effective on the neltt Change Date. If my monthly payment changes as aresult
of achange in theinterestrate; my monthly payment will change as of the flIStmonthly payment datesfterthe Change Dste.
(D) Nodce to Borrower
TheNote. Kolderwillmailme timely notice. as required by law if the interest rate is to change. The notice will
advise: me: of:
(i) the new interest rate on my loan;
(i1") the amount of my new monthly payment; and
(iii) any additionalmattm which the: Note Holder is required.to disclose.
5'. BORROWER.'S FAILURE TO PAY AS REQUIRED
(A) Latc CbaneforOverdue PaJIDClIls
If the Note Ho]derhas not received the full amount of any of my monthly payments by the. end of ...~.....
, calendar days sfterthe date it is due, I will pay a late charge to the Note Holder. The amount of the charge will be
.'. .5. . . . .. % of my overdue payment of principal and interest. ] will pay this late charge only once on any late payment.
(B) Default
If I do not pay the full amount of each monthly payment by the date stated in Section 3(A) above:] will be in
default.
(C) Nodce From Note Holder
If I am in default, the Note Holder may send. me a written noticete1ling me-that if Ido not pay thtoverdue
amount by a.certain date.the Note Holder may require me to pay immediately the full amount of principal which has not
been paid and all the interest that I owe on that amoullt. That date. must be at lealt 30 days afterthedate 011 which thenotice
is mailed to me. '
Even if, at a time when I am in default, the Note Holder does not require me to pay immediately in full as
described above, the Note Holder will still have the right to do so if I am in default at a later time.
.' limo" lhan on. box /J ch..,ktd or I/no box It chcckld, ond LInd" and Bo"ow,r do no, ol~ti. ."IH In w,IIIn,. Ih,jI", lnda _d ../1/ opply.
(*
,..
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.
.
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(OJ r.JlIlut: of Not.. Holder's CoslI ed. Expeases,
If.thlt Note: Holderhu requlred. me:to pay Immediately hI rull as described.above-. thltNote Holderwlll hive:
the: riabt to be paid. btclc. by me fbr all III reuonable COSIl and expenses to theextcnt not prohiblted.by applicable law.
those expenses III&Y Include. for example. reasonable attorneys' fees.
f~ WAmm!-
Anyone- who slam this Note- to transfer it to someone else (known as an "endorser") walves certain riShlS. Those-
rilhlSUC(A.) therlahtlo require the Note Holder to demand payment of amounts due (known as "presentment") and
(B) the: riabl: to requlre the Note Holder to slve notlclt that amounts due have: not been pald. (known as "notice: of
dishonor! ').
T~ GlVING:OFNonCFS
Except forthenotlc:e provldedln Section 4(0). any notice that mUll be s1ven to me under this Note wlll be slven by
mal1lnslt by certlfied.mail. All notices will be addressed to me auhe PropertY Address above. Notices wlll be mailed to
me at a different address If 1 slve the Note Holder a notice of my dICCerent address.
Any notice that must beslven to the Note Holder under this Notewlll besiven by mallinslt by certified. mall 10 lhe
Note Holderattbe addressstated In Section 3(A) abuve. Notices will be mailed to the NoteHolderat adtrrerent addres,
iCl am slven a notice: orthat different address.
a. RESPONSmlLlT.Y OF PERSONS UNDER THIS NOTE
If more than one: person slans this Note, each of uS Is fully and personally obllsated to pay lhe full amount owed
and.to keep all orthepromlses madeln this Note. Any suarantor, surety, or endorser of this Note is also obligated to do
thesethlnll5. The-Note Holder may enforce its rishts under this Note asalnst each of us Individually or asainst all of w
tosether~ This. means, that anyone of us may be: requlred.to pay ail of the: amounts owed. under lhis NOll'.
Any person who takes over my rlShts oroblisatlons under this Note will have all of my rlShts and mwt keep all of
my promises made:in this Note. Any person who takes over the riShlS or obllsations of a suarantor, surety, or endorser
of this Note is also obllsated. to keep all of the' promises made in this Note.
9., LOAN- CHARGES,
It could. bethatthis loan is sUbJcctto a law which sets maximum loan charges and. that law is interpreted so that the
intereslor other loan charses collected. or to be collected. In connection witlt this loan would. exceed. permilted.limils. If
this Is thec~e.then: (A) any such loan charseshall be reduced by the amount necessary to reducethecharse to the per-
mitted limit; and. (B) any sums already collected. from me which exceeded. permitted. limits will be refunded to me. The
Note Holder may choose to make this refund by reducing the principal I owe under this NOleor by making a. direct pay-
ment to me. If a refund. reduces principal, the: reduction will be treated as a partial prepayment.
10. THIS- NOTE SECURED BY A MORTGAGE
In addition to lhe protections given to the NOle Holder under this NOle, a Mortsage, dated
. . f1IIJ.y.. i!-!i ". . . .. .. . .. . . . . . . . '.. 19. . .9.2. protects the NOle Holder from possible losses which misht result if 1
do not keep the promises which I make in this Note. That Mortgagedescribes how and. underwhal conditions I may be
required to make immediate payment in full of all amounts that I owe under this NOle. One of those conditions relales
to any transfer of the property covered by the Mortgage. 1 n that resard, the Mortgage provides In paragraph IT:
I To Transferof the Property; Assumption, If all orany part of the Property or an interest therein i5 sold or
transferred. by Borrower without Lender's prior wrillen consent. excluding (a) the creation of a lien or encumbrance
subordinate to this Mortgase. (b) the creation of a purchase money security interest for household appliances, (cl a
lransfer by devise, descent or by operation of law upon the death of aJoint tenant or (d) the grant of any leasehold intereSt
of three years or less not containins an option to purchase. Lender may. at Lender's option. declare all the sums secured by
this Mortgaseto be immediately dueand payable. Lendershall hayewaivedsuch option to acceletaleif, prior to lhesaleor
transfer, Lenderandtheperson to whom the Property is to besold or transferred reach asreemenrinwriling lhatlhecredit
ohuch person is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall beatsuch
rate.. Lendershall request. If Lender has waived the option to accelerate providedin lhis parasraph I T, and if Borrower's
successor in interest has executed a wrillen lISsumption agreement accepted. in writing by Lender. Lender shall release
Borrowerfrom all obligations under Ihis Mortgase and lhe Note.
If Lenderexercises such option to accelerate. Lendershall mail Borrower no lice of acceleration in accordance
with paragraph l4-hereof. Such' notice shall provide: a. period of not less than 30 days from the date the notice is mailed,
within which Borrower msy pay the sums declared due. If Borrower fails to pay such sums priono the:expiration of such
period. Lender may, without further notice or demand on Borrower. invoke any remedies pernlitted by paragraph- 18
hereof.
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NOTteR O~ INTENTION, TO I!ORBctOSE MQR.'J:GAGH:
Date, oC notice' :: Oct. 01, 1997
Account It::: Mt. 105'0001920
Property tocation::
10Z tongview Drive
Shippensburg, Fa.
Twp. of :: Shippensburg
County of:: Cumberland
T'o :: Dennis t.. Ott
t320 Ritner HWY.
. Shippensburg,. Pa... L725'7
~ Beniamin r.. Ott, Jr.
The Mortgage held by ORRSTOWN BANK (hereinafter called
WE" US OR. OURS) on your property located at the above address is in
serious default because you have not made the monthly payments of
~ 5'85'.73. for the months of 07/26, 08/26, & 09/26/97. The totd amount
now required. to cure this: defauLt,. or in other words get caught up in
your payments as of this letter is ~ 1,915'.15', this includes a late fee
of $ 5'8.5'6 and a. collection fee of $100.00.
You may cure this default within Thirty-Days of the date
of this letter by paying to us the above amount plus any
additional payments and late charges which may fall due
during this period. Such payments must be made either by
Cash,. Cashier"s Check. or Money Order and made at the' tURGAN
AVE. OFEICE in Shippensburg-,. Pa. 1725'7.
If you do not cure the default within Thirty-Days (30),
we. intend. to eltercise our right to acce lerate the Mortgage
payments. This means that whatever is owing on the original
amount borrowed will be considered due immediately and you
may lose the chance to payoff the original Mortgage in
monthly' installments. rf full payments of the amount of
defauLt is not made within THIRTY-DAYS, we also intend to
instruct our attorney to start a lawsuit to foreclose your
Mortgaged. property. If the Mortgage is foreclosed, your
Mortgaged property will be sold by the Sheriff to payoff the
Mortgage debt., If we refer your case to our attorney, but you cure the
default before the begin legal proceedings against you, you will stil 1
have to pay the reasonab Ie attorney's fees, actually incurred, up to
$5'0.00. However, if legal proceedings are' started. against you; you wiU
have to pay the reasonable. fees even if they are over $5'0.00. any
attorney's fees will be added to whatever you owe us, which
may also include OUR reasonable costs. If you cure the default within
the Thirty-Day period, you will not be required. to pay the attorney's
fees.
We may also sue your personally for the unpaid. balance and all other
sums due under the Mortgage'.
rf you have not cured the default within the Thirty Da
period. and. the foreclosure proceedings have begun, you
still have the right to cure the default and. prevent the
sale at any time up to one hour before the Sheriff's Sale.
1)- \
AlWTAlP 1IfItRNA11llNAL'
P.O. BOX 250
-
SHIPPENSBURG, PA 17257
.'
TEL (717) 532-6114
.
.
Pase : 2.
Yo~ may do so by paying the total amount oC the unpaid
monthly payments plus any late or other charges then d~e,
aa well as the reasonable attorney's fees and costs connected
with the Coreclosure sale and perform any other req~irements
under the Mortgage. It is estimated that the earliest date
that s~clt a SherifC' s Sale could be he Id would be approximate ly 60 days
Crom your receipt oC this notice, you will be informed in writing oC
the date of the Sheriff's Sale, this will be sent to you before the
sale. Of course, the amount needed to cure the deCault will increase
the longer you wait. You may find out at any time exactly what
the required payment will be by calling the following number, (717)
530-2663. This payment must be in Cash, Cashier's Check, Certified
Check or Money Order and made payable to us at the address stated
below:'
ORRSTOWN BANK,. P.O. BOX 250, SHIPPENSBURG, PA. 17257 ATTN:
ALBERT H. "BUCK" SHULLER,JR., COLLECTION DEPARTMENT.
You should realize that a sheriff's Sale will end your
ownership oC the Mortgage Property and your right to remain
in it. If you continue to live in the property after the
Sheriff's Sale, a laws~it could be started to evict you.
Yo~ have additional rights to help protect your interests
in the. property. Yo~ have the right to se 11 the property to obtain
money to payoff the Mortgage Debt, or borrow money
from another lending institution to payoff your debt.
Yo~ may have the right to sell or transfer the property
subject to the mortgage to a buyer or transferee who will
assume the Mortgage Debt provided that all the outstanding
payments, charges, and attorney's fees and costs are paid
prior to or at the sale, and that the other requirements
under the Mortgage are satisCied. You can contact us to
determine under what circumstances this right might exist.
You have the right to have the default cured by any third
party acting on your behalC.
If you cure the default, the Mortgage will be restored
to the same position as iC no deCault has occurred. However,
yo~ are not entitled to this right to cure your deCault more
than three times in any calendar year.
~s../~'
ALBERT H. ,,' UCK" ULLER JR.
COLLECTION DEPARTMENT
(717) 530-2663
....... '1It...
;%.tILei/) /,e.:e;f/'/L /fili'-
~ .:FP I...!il? cGS 3 pCle.,
ORRSTOWN BANK If
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NOTICR OF INTENTION, TO fORECLOSE MORTGAGB
Da.tll: of' notice : Oct., 01, 1991
Account ~: ML 10a0001920
Property Loca.tion:
102 Longview Drive
Shippensburg, Ea..
Twp. of : Shippensburg
County ofr Cumberland
To = lC!mberly S ~ Ott
4'19' Bast ICing St~
Saippensburg, Pa.~ 112a1
The Mortgage held by ORRSTOWN BANK. (hereinafter caLLed
WE, US OR OURS) on your property Located at the above address is in
serious default because you have not made the monthly payments of
$' 5'85'~13 for the months of 01/26, 08/26, He 09/26/91~ The total amount
now required to cure this default, or in other words get caught up in
your payments as of this letter is $ 1,915.15, this incLudes a late fee
of' $' 5'8..5'6 and a coLLection fee of $100.00.
You may cure this default within Thirty-Days of the date
of tais letter by paying to us the above amount plus any
additional payments and late charges which may fall due
during this period~ such payments must be made either by
C'ash.,. Cashier's Checle. or Money Order and made at the LURGAN
AVK~ OffiCE in Shippensburg, Pa. 1125'1.
rf you. do not cure the defaul t wi thin Thirty-Days (30),
we intend to e~ercise our right to accelerate the Mortgage
payments.. This means that whatever is owing on the original
amount barrowed will be considered due immediately and you
may lose the chance to payoff the original Mortgage in
monthly installments. If full payments of the amount of
default is not made within THIRTY-DAYS, we also intend to
instruct our attorney to start a lawsuit to foreclose your
Mortgaged property. If the Mortgage is foreclosed, your
Mortgaged property will be sold by the Sheriff to payoff the
Mortgage debt., If we refer your case to our attorney, but you cure the
default before the begin legal proceedings against you, you wiLL still
have to pay the reasonab le attorney's fees, actual ly incurred, up to
$'aO .00. However, if legal. proceedings are started against you; you wit 1
have to pa.y the reasonab le fees even. if they are over $50.00. any
a.ttorney's fees will be added to whatever you owe us, waich'
may also include OUR reasonable costs. If you cure the defauLt within
the Thirty-Day period, you will not be required to pay the attorney's..
f'ees'~
Wac may also sue your personally for the unpaid balance' and all other
sums due under the Mortgage.
If you have not cured the default within the Thirty Day
period and the foreclosure proceedings have begun. you
still have the right to cure the default and prevent the
sale. at any time up to one hour before the Sheri.ff's Sale.
" .,."I:XttIBfl;,
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.
SHIPPENSBURG, PA 17257
~ j")':':'::1
I .
:~--
TEL (717) 532.-6114
P,O. BOX 250
.
'.
.
Page : 2
You may do so by paying the total amount of the unpaid
monthly payments plUS any late or other charges then due,
as' well as the reasonable attorney's fees and costs connected
wit:<h the foreclosure sale and perform any other requirements
under the Mortgage. It is estimated that the earliest date
that such a Sheriff's Sale could be held would be approximately 60 days
from your receipt of this notice, you will be informed in writing of
the date of the Sheriff's Sale, this will be sent to you before the
sale. Of course, the amount needed to cure the default will increase
the longer you wait. You may find out at any time exactly what
the required payment will be by calling the following number, (717)
530-2663. This payment must be in Cash, Cashier's Check, Certified
Check or Money Order and made payable to us at the address stated
below:
ORRSTOWN BANK, P.O. BOX 250, SHIPPENSBURG, PA. 11257 ATTN:
ALBERT H. "BUCK" SHULLER,JR., COLLECTION DEPARTMENT.
You should realize that a sheriff's Sale will end your
ownership of the Mortgage Property and your right to remain
in it. If you continue to live in the property after the
Sheriff's Sale, a lawsuit could be started to evict you.
You have additional rights to help protect your interests
in the property. You have the right to sell the property to obtain
money to payoff the Mortgage Debt, or borrow money
from another lending institution to payoff your debt.
You may have the right to sell or transfer the property
subject to the mortgage to a buyer or transferee who will
assume the Mortgage Debt provided that all the outstanding
payments, charges, and attorney's fees and costs are paid
prior to or at the sale, and that the other requirements
under the Mortgage are satisfied. You can contact us to
determine under what circumstances this right might exist.
You have the right to have the default cured by any third
party acting on your behalf.
If you cure the default, the Mortgage will be restored
to the same position as if no default has occurred. However,
you are not entitled to this right to cure your default more
than three times in any calendar year.
JR.
~~1r' ~~
'. ORRSTOWN
/J/#/t.dO C:;/3'p/~7 . ...
Gt!H!.I, ~? ~7 (07 e.3
IN'b /I/6I2JH,IL /11/1/ '- ,
BANK a5
IHPOR'l'AJrf: 1I0'rICB or HOMB01f1fBRS'
BHBRGBIIC! KOR'l'GAGB ASSIS'l'AIICB A~"r or 1983
Date . June 30, 1997
.'
RB . Account Ko.: H~ 1050001920
.
Prop. toe. : 102 Lonqview Drive
'1'0 : Dennis L. Ott Shippensburq, Pa.
102 Lonqview Drive Twp. Shipp ens burg
Shippensburg, Pa. 17257 County Cumberland
From :
Orrstown Bank
2.0.BOX. 250
Shippensburg Pa 11257
Your mortgage is in serious default because you have
failed to pay promptly installments of principal and interest, as
required, for a period of at least sixty (60) days. Th~ total amount
that you now owe is $ 2,957.69. The sum is broken down as follows:
payments due for 02/26, 03/26, 04/26, OS/26 & 06/27/97, at $ 564.76
per month. This figure includes a late fee of $ 112.92.
You may be eligible for financial assistance that will prevent
foreclosure on your mortgage if you comply with the provisions of the
Homeowners' Emergency Mortgage Assistance Act of 1983 (th~ AC~) . You
may be eligible for emergency temporary payment assistanc~ if your
default has been caused by circumstances beyond your control, and
if you meet the eligibility requirements of the Act as determined by
the Pennsylvania Housing Finance Agency. Please read all of this
notice. It contains an explanation of your l:ights.
Under the Act, you are entitled to a temporary stay
of foreclosure o~ your mortgage for Thirty (30) Days from
the date of this Notice. During that time you have the
right to arrange a "face -to face" meeting with d representative of
this lender, or with a consumer credit counsali.lg agency. The purpose
of that meeting is to attempt to work out a repayment plan, or to
otherwise settle your delinquency. That meeting must occur in the next
'1'hirty (30) Days.
If you attend a face to face meeting with this lender or a
consumer credit counseling agency identified in this notice, no further
proceeding in mortgage foreclosure may take place for'1'hirty (30) Days
after the date of that meeting.
EXHIBIT
1=:-1
ALL-5YATPINTtRHAllONll
P,O. BOX 250
.
SHIPPENSBURG. PA 17257
TEL (717) 532.6114
Page . Z
Notice, of Homeowners' Bmergency
Hortqaq. Assistance Act of 1983
The name, address and telephone number of our
representative is :
Albert H. (Buck) Shuller
Orrstown Bank
P.O. Box 250
Shippensburg, Pa. 17257
Telephone # (717) 530-2663 or (717) 532-6114
The name (s) and address(es) of a designated consumer credit
counseling agency (ies) is (are) :
PENNSYLVANIA HOUSING AUTH.
I.W.e.A. PAM tINE or CATHY BEtCHER (717) 243-3818
ACT#91 HOMES RBSOURCE CENTER
301 "G" STREET
CARLISLE PA 17013
It is only necessary to schedule one face to face meeting.
You should advise this lender immediately of you intentions.
If you have tried and are unable to resolve this problem
at or after your face -to face meeting, you may apply for
financial assistance from the Homeowners' Emergency Mortgage
Assistance Fund. In order to do this, you must fill out,
sign and file a completed Homeowners' Emergency Assistance
Application with the Pennsylvania Housing Finance Agency.
The consumer credit counseling agency will assist you in
filling our your application. It must be filed or postmarked,
within Thirty (30) Days of your face to face meeting.
You may either mail your application to the Pennsylvania
Housing Finance Agency, or you may file it at the offices of
one of the designated consumer. credit counseling agencies
listed above.
The Pennsylvania Housing Finance Agency is located at:
2101 North Front Street, P.O. BOX 15530, HarriSburg, Pa. 17105
Telephone No. (717)-780-3940 or 800-342-2397 (TOll Free #)
An application for assistance may be obtained from a
consumer credit counseling agency, or directly from Pennsylvania
Housing Finance Agency.
It is extremely important that you file your application
promptly. If you do not do so, or if you do not follow the
other time periodS set forth in this letter, foreclosure may
proceed against your home immediately.
-
.
/I/~IMIJ. ~I do/~ r
CE7Zfo .;t: 'P 3~ 7 (() '7 1 ;z..j-
JIW'b ~",- ;II"~
BANK w
tQ)f1f . ~
.. ORRSTOWN
IMP.OR!~: RO~ICB or HOMBOWRBBS'
BHBBGBlfCY MOR~GAGB ASSISTANCB AC'l' or 1983"
Date : JUne SO, 1991
RB ~ Account Ko.r Ht 10S0001920
'1:0 :
Kimberly S. Ott
102 tonqview Drive
Shippensburg, Pa. 17257
Prop. tOl:'.: 102 &onqview Dri.ve
Shippensburg, ~a.
Twp. : Shippensburg
County Cumberland
From
Orrstown Bank
P.O. BOX 250
Shipp ens burg Pa 172S7
Your mortgage is in serious default because you bave
failed to pay promptly installments of principal and interest, as
required, for a period of at least sixty (60) days. The total amount
that you now owe is $ 2,957.69. The sum is broken down as follows:
payments due for 02/26, 03/26, 04/26, 05/26 & 06/27/91, at f S64.76
per month. This figure includes a late fee of $ 112.92.
You may be eligible for financial assistance that will prevent
foreclosure on your mortgage if you comply wi.th the provisions of the
Homeowners' Emergency Mortgage Assistance Act of 1983 (the AC~) . You
may be eligible for emergency temporary payment assistance if your
default has been caused by circumstances beyond your control, and
if you meet the eligibility requirements of the Act as determined by
the Pennsylvania Housing Finance Agency. Please read all of this
notice. It contains an explanation of your rights.
Under the Act, you are entitled to a temporary stay'
of foreclosure on your mortgage for Thirty (30) Days from
the date of this Notice. During that time you have the
right to arrange a "face -to face" meeting with a representative of
this lender, or with a consumer credit counseling agency. The purpose
of that meeting is to attempt to work out a repayment plan, or to
otherwise settle your delinquency. That meeting must occur in the next
Thirty (30) Days. .
If you attend a face to face meeting with this lender or a
consumer credit counseling agency identified ~ this notice, no further
proceeding in mortgage foreclosure may take place for Thirty (30) Days
after the date of that meeting.
EXHIBIT
.E -'1
AlL.STATEeINfERNAnONAL
P.O. BOX 250
.
SHIPPENSBURG, PA 17257
.
TEL (717) 532-6114
.
Paqe . :z
lfot:l:clf- of Komeownerll'~ Blneo:gency
Mortgage Assistance Act of 1983
orhe name, address and telephone number of our
representative is, :
Albert Ii. (Buck) Shuller
Orrstown. Bank
P.O. Box 250
Shippensburg, Pa. 17257
Telephone' (717) 530-2663 or (717) 532-6114
orhe name (s) and address(es) of a designated consumer credit
counseling agency (ies) is (are) :
I?BNNSY&VAlfIA HOUSING AUorH.
'!.W.C.A. PAM roIHK or CA'rH'! BBroCHBR (717) 243-3818
ACT.91 HOMES RBSOUReS CBN'rBR
301 "G" SorREE'!:"
CAR&ISLB PA 17013
It is only necessary to schedule one face to face meeting.
Yo~ should advise this lender immediately of yo~ intentions.
If yo~ have tried and. are unable to resolve this problem
at or after your face -to face meeting, yo~ may apply for
financial assistance from the liomeowners I Eml!rgency- Mortgage
Assistance Fund. In order to do this, yo~ must fill out,
sign and file a completed Homeowners' Emergency Assistance
Application with the Pennsylvania Housing Finance Agency.
orhe consumer credit counseling agency will assist yo~ in
filling' our your application. It must be filed or postmarked,
within Thirty (30) Days of your face to face meeting.
Yo~ may either mail your application to the Pennsylvania
Housing Finance Agency, or you may file it at the offices of
one of the designated consumer credit counselinq agencies
listed above.
The Pennsylvania Housing Finance Agency- is located at:
210~ North Front Street, P.O. BOX 15530, HarriSburg, Pa. 17105
Telephone No. (717)-780-3940 or 800-342-2397 (Toll Free ~)
An application for assistance may be obtained from a
consumer credit counseling agency, or directly from Pennsylvania
liousing Finance Agency.,
It is extremely important that you file your application
promptly. If you do not do so, or if you do not follow the
other time periOdS set forth in this letter., foreclosure may
proceed against your home immediately.
'.
mortgage contains and Is a lien upon the property situate at 102 Long VIew Drive,
Shlppensburg Township, Cumberland County, Pennsylvania,
4. A copy of the Adjustable Rate Note Is attached hereto and Incorporated
herein as Exhibit "B".
6, Plaintiff, in consideration of the said Mortgage and Note advanced to
Dennis L, Ott and Kimberly S. Ott in the sum of seventy-two thousand ($72,000.00)
dollars.
6, The premises subject to said mortgage Is more specifically set forth In
Exhibit "C".
7. Dennis L. Ott and Kimberly S. Ott are the sole owners of the said
premises securing said mortgage.
8. Said Mortgage has not been assigned in whole or In part by the Plaintiff
herein,
9. That said Mortgage is in default because Defendants herein have failed
to pay monthly payments of $585,73 for the months of July 1997 through February,
1998, plus late charges in the amount of $204.96,
10. The Plaintiff has given to the Defendants written notice of Intention to
foreclose on said Mortgage as required by law under Act 6, dated October 1, 1997, a
copy of which is attached hereto and incorporated herein as Exhibit "01" and "02".
11. The Plaintiff has given written notice of default as required by the
Homeowner's Emergency Assistance Act of 1983, dated June 30, 1997, a copy of
which is attached hereto and incorporated herein as Exhibit "E1" and "E2".
4
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GECO~flr:O-OrFIr.E OF Till:
r.r:GCiiillll. '1" DEEflS
CII!"'Elll,\/IU euUtl ry-p^,
.
I ~~ nUG 2G PI'I 1 117
(Sp." AbDn Ihlllln. FD' Rmldln. 0.1.) ,
MORTGAGE
THIS MORTGAGE ("Security Instrument'? Is given on .......~,I1!:{,o?-.~.............................,................,..,........ .
19 . .9;1.. . The mortgagor Is .. P.~!1I)A\I, '~"" J:H.t. .lInd.Ximb.ex:ly.. S...O,tt........... ...........,...... ,..................... .........
("B ,~ TI' S It I I tl I t Orrstown Bank
............................................ orrowcr Jo liS ecur y os rumen s g yen 0.............................................
to. to..... ............ ....... It... ............. It. to to. to, ......... ....... to... ... .t.... ........,. ... t which is organized and cxlslins under
the laws of .J!Ml\lly.lv.en~A.............. ........... ........ ,and whose address Is ..~ .D...B.ox ,60...0n:atown,. . l!A..l.1244... ,
....., ...,." ,...... ..,....." ..., ,..".",.""" ,......, .........,. ,.", '.'"", ,...,..., ("Lender'? Borrower owes Lender the principal
sum 01 ..~.'lY.'mty.~'J:>1A ,:t:IJRUllend. .and, ,Ntl/Jlu.ndr~dthll..,.,.:-: ,:-:,:-:.:-:.:-:,:-:. :-:..-:, ,-:..-:..-:..-:, ,-:, ,-:..-:..-:, ,-:. .T...,.. ,.,....,.. Dollars
(U,S. $ . .7.~.oon,oo.. ). This debt is evidenced by Borrower's note daled the same date as this S;curity Instrument ("Note'?, which
provides lor moathly payments, with the lull debt, il not paid earlier, due and payable on .t\lIY,.. ."h.C;".,......., ,2017,......",.", ,
This Security Instrument secures to Lender: (a) the repayment ofthe debt evidenced by the Note, with inlerest, and all renewals, extensions
and modifications oOhe Note: (b) the payment 01 all olhersums, with interest, advanced under paragraph 7to prolectlhe security ollhls
Security Instrument: and (c) Ihe perlormance 01 Borrower's covenants and agreements under Ihls Security Instrument and Il1e Note, for.
this purpose, Borrower docs hereby morlgage, grant and convey to Lender the lollowing described property localed in ."",..."....,
.., .ShfllP.Ill1.!lb.llr.g.,T(l,wl\llh~p,.,Cumhedlln.d....... ,... ..,........, ,. ,.. ..." ,........., .......,.. County, Pennsylvania:
(see attached Schedule "A")
. 102 Longview Drive
which has the address 01 ""."..,........"..",.,..........."......,..,....",....."",........
ISlre,l1
Sh ippensburg
.......................................,
ICilII
Pennsylvania ....H?:n.............. ("Property Address'?:
, (lip Codel
TOGETHER WITH all the improvements now or herealtererected on Ihe property, and all casements, appurtenances, and fixlures
now or herealter a part 01 the property. All replacements and additions shall also be covered by this Security Instrument. All of the
loregoing is relerred to In Ihis Security Instrument as the "Properly."
, , BORROWER COVENANTS that Borrower Is lawfully seised oflheestate hereby conveyed and has Ihe right 10 mortgage, grant and
, convey Ihe Properly and that the Property is unencumbered, except lor encumbrances of record. Borrower warrants and will delend
generally Ihe title to the Properly against all claims and demands, subJect to any encumbrances of record.
'i'THIS SECURITY INSTRUMENTcombincs unilorm convenants lor natibnal use and non-unilorm covenants with limited
i variations by Jurisdiction 10 constitute a uniform security instrument covering real properly.
;"..' .. . I.
:',.'. UNif,ORM COveNANTS, Borrower and Lender coven ani and agree as follows;
. i l/',': j. F.ylnell' bt Prlaclp.1 ancllntere.'; Prepayment and Lale Ch.r.... Borrower shall promptly pay when due the principal 01 and
, In,(itesl dlllhc clebt evldellced by the Note and any prepayment and late charges due under the Note.
1. Funds for Tax.. .nd Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day
monthly payments arc due under the Note, until the Note is paid in full, a sum ("Funds'? for: (a) yearly laxes and assessments which may
atlalri priority over this Security Instrument as a lien on the Property: (b) yearly leasehold payments or ground rents on Ihe property, if
, any; (c) ye~rly I1Qzard or property insurance premiums; (d) yearly Oood insurance premiums, If any; (e) yearly mortgage insurance
premluJjJs,lI ~ny; and (I) any sums payable by Borrower to Lender, In accordance with the provisions of paragraph 8, in Heu 01 the
pay",ent 01 morlgage Insurance premiums. These i1el.ls arc called "Escrow IIcms." Lender may, at any time, collect and hold Funds 11\ al\
dmounlllotlo exceed the maximum amounl a lender for a federally related mortgage lORn may require for Borrower's escrow account
under thelederal Real Estate SeHlement Procedures Act 01 1974 as amended from time 10 time,l2 U.S.C. ~ 2601 el seq. ("RESPA'?,
unless anotherlaw that applies to the Funds sets a lesser amount, If so, Lender may, at any time, collect and hold Funds in an amount not
to ellceed the lesser amount. Lender may estimate Ihe amount 01 Funds due on the basis of eunent data and reasonable estimates of
expenditures 01 IlIture Escrow \tems or otherwise in accordance with applicable law.
The Funds shall be held in an institution whoscdeposils are Insllred by a lederal agency, instrumeatality,orentity(including Lender
il Lender is such an instilutio~) or III any I".dcrulllornc Loan Bank. Lender shall apply the Funds to pay the Escrow ltel1W. 49def/nay
nol charge Borrower lo! hold 109 and apply,n8thc I'oll,ds, nnnually analyzing the escrow accounl, or verilylng the Escrow lt~~';'~iI~,
Lender pays 1I0rrower mlcresl on the Funds and appllCllblc law permits Lender to make such a charge. However, Lender may re'lU\~oi;.
PENNSYLVANIA-Slnll' f.mily-Ftnnl..h.lFrtddl.llac UNIFORll IXS11UIIIXl 9/90) (pag.1 af4 pag.,)
EXHIBIT
B'uiilil084 P^tl 844
A
,
" Borro~er 10 pay ~ one-time charge for an Independcnt r~ol eslote lox reporting service ,use~ by LeJider In connection with Ihls loan, unle..
. appllc!ble laylproyidcsotherwise, Unless on ogreement IS made or opphcablc law requlrellDt~rest to be paid, Len~ershall not !Ie required
10 pay Borrower any Interest or ~ornlngs on Ihe Fundi. Borrower on'l Lende~ may asree In wnllng, ~oWeYCr,lhalldnlerelllhall be paicllln
Ihe Fundi. Lendcrshallslye to Borrower, wllhout charse, an annual accounllDg of the Funds, shoW,IDS credlls and ebllllo Ihe fllDdl and
Ihe purpose for which each debllto Ihe Funds wal made, The funds arc pledged as addlllonallecunty for allluml lecured by Ihil Securlly
Instrument.
If Ihe Fundi held by Lender cxceed Ihe amounll permllled to be held by applicable law, Lender Ihall account 10 Borrower for Iho
eX~ess Fundi In accordance with the requirements ofappllcable law, Iflhe amount of the Funds held by Lender 01 any lime i. nollumclenl
10 pay Ihe Elcrow lIeml when due, Lender may 10 notify Borrowcr In writing, and,ln such calC, Borrower Ihall pay 10 Lender the amounl
necessary 10 make up Ihe deficiency, Borrower shall make up the deficiency In no moro than twelye monthly paymentl, al Lender's solo
dlscrellon,
Upon payment In full ofallsumssecured by Ihis Securlly In.trumenl, Lendershall promptly refund to Borrower any fund. helcllly
Lender. If, under paragraph 21, Lender sholl acquire or selllhe Property, Lender, prior In Ihe acquisition orsale of Ihe ProperlY, Ihall
apply any fund. held by Lender althe time of acquisition or sale a. a credll agalnslthe sum. secured lIy Ihls Securlly Inllrumenl,
3. Application or Paymenll. Unless applicable law proyldes otherwise, all payments receiyed by Lender under paragraphl I anll 2
shall be applied: firsl, 10 any prepaymenl charges due under Ihe Nolej second, 10 alDount. payable under paragraph 2; Ihlrll,lo Inlerell
due; fourlh,lo principal due; and last, 10 any laic charges d~e under Ihe Note.
4. Chr.r'''i "lenl. Ilorrower shall pay alllaxes, p.se.lmenls, charges, fine. and Imposlllons allrlbulable 10 Ihe ProperlY which maY
allaln prlorlly oyer Ihls Securlly Inslrumenl, anclleaseholcl paYment. or ground rents, if any. Borrower shall pay Ihese IIlIlIsallonsln Iho
manner provided In parasroph 2, or If not poid In Ihal manner, Borrower sholl pay Ihelll on lime directly 10 Ihe person owed Paymelll.
Borrower Ih'all promptly rurnlsh 10 Lender all nOllcel of amollnll 10 be paid under Ihis paragraph, If Borrower makes Ihele paymonls
directly, Borrower shall promptly furnis" 10 Lender receipts eyldencing Ihe paymenls,
Borrower shall promptly discharge any lien Which hos prlorlly oyer this Security Instrument unles. Borrower: (a) agree. In wrltlnllll
the payment oflhe obligation secured by the lien In a manner acceptable to J.ender; (b) conle.l.ln good faith Ihelien by, orllefends agaill.1
enforcement of Ihe lien In,legol proceeding. Which In the Lender's opinion operate 10 preyent the enforcement of Ihe lien; or (c) secures
from Ihe holder of Ihe lien an ogreemenlsatlsfactory 10 Lcnder subordinating Ihe lien 10 Ihi. Security In.lrllmel!l. If Lellller delermlnes
Ihat any part of Ihe ProperlY I. subject 10 a lIel1 which may allain priority oyer this Security Inslrumenl, Lender may giye Borrower.
notice Idenllfyinglhe lien, Borrower sholl satisfy the lien or take one or more oflhe oclions set forth aboye wllhln 10 lIays oflhe siylns 0
notice,
5. Hazarll or ProperlY Insurance. Borrower shall keep Ihe improyements now existing Dr hereofler erecled on Ihe ProperlY InUlrecl
againslloss by fire, hazords included within Ihe lerm "extended coyerage" and any olher hazards, including no ods or Ooollins, for whlc,h
Lender reqlllres insurance. This insuronce sholl be moinlained in Ihe amounts and for Ihe periods that Lender requires. TIle Insllranco
carrier providing Ihe insurance sholl be chosen by Borrower subjecllo Lender's approyal which shall not be Ilnreasonably withheld. If
Borrower fails to mainlain coverage described aboye, Lender may, al Lender's oplion, obtain coverage to prolecl Lender's righls in 1110
Property In accordance with paragraph 7.
, All insllrance policies and renewals shall be occeploble to Lender and sholl include a slandard mortgage clouse. Lendershallllayo Iho
righl to hold Ihe policies and renewals. If Lender requires, Borrower shall promptly giye 10 Lender all receipls of pal4 premiums allll
renewal nolices.ln Ihe ~yenl ofloss, Borrower shallgiye promplllolice to Iho insurance carrier and f.ender. Lender may mak~ proof !lno..
if nol made promptly lIy Borrower,
Unless Lender and Borrower olherwise asr~e in writing, insurance proceeds shall be applied 10 reslorallo" or repair of IlIe Property
damaged, If Ihe resloratlon or repair is economically feasible and Lender's securilY Is nOllessened. If Ihe resloralion or r~palr is nol
economically feasible or Lender's security would be lessened,lhe insurance proceeds shall be applied 10 Iho sums secllred by Ihis Sec~rllY
InStrument, whelher or nollhen due, wilh any excess paid to Borrower, If Borrower abandonslhe ProperlY, or docs nOI answer wilhin 30
days a Ilolice from Lender Ihat Ihe insurance carrier has offered 10 setlle a claim,lhen Lender may collecllhe insllrancO proceeds. Lellcler
may use Ihe proceeds 10 repair or reslore Ihe Property or to poy .ums secured by Ihis SecurilY Inslrument, whelher or nOllhen duo. Tho
30-day period will begin when Ihe nOlice is given,
Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall nol exlencl or poslpono Ih~ dlle
date oflhe monlhly payments referred to In poragraphs I and 2 or change Ihe amounl of Ihe payments.lfunder paragraph 21 Iho Property
is acquirecl by Lender, Borrower's right 10 any insurance policies and proceeds resulting from damage 10 the Properl)' prior to Ih~
acquisition shall pass to Lender 10 the exlent of Ihe sums secured by this Security Inslrumenl immedialely prior 10 Ihe acquisilio",
6. Occupancy, fresenallon, M~lnlenance and prolecllon !lUhe Properly; Borro""'1 Loan AppllcaUon; Leuebolds. Borrowershall
occupy, establisll, and use Ihe ProperlY as Borrower'. princlpol residence within sixty days afler Ihe execulion oflhis SecurilY Instrllmenl
and shall conlinue 10 !lccuPY Ihe ProperlY as Borrower's principal residence for alleast one year after Ihe dalo of occupancy,llnless Lender
olherwiso agrees In writing, which consent sholl nol be unreosonably withheld, or unless eXlenualins circllmslances exisl Which aro beyolld
Borrower's conlrol, Borrower shall not destroy, dornase or Impair Ihe Property, allow the ProperlY to delerioralo, orcommh wasloon lito
Properly. Borrower shall be in defaull if any forfeilure action or proceeding, whether civil orcriminal,ls begun Ihat in J.enller's soocl faitlt
judgmenl could result In forfeiture oflhe ProperlY or otherwise mOlerially impair Ihe lien created by Ihis Security Jnstrumenl or Lencler's
securilY inleresl. Borrower 1lI0Y cure such a default and reinstale, as proyided in paragraph 18, by causinglhe aCliol! or proceeding 10 lie
dismissed with a rulinglhol, in Lender's good failh determinotlon, precludes forfeiture oflhe Borrower's interesl in Ihe ProperlY or olher
malerial impairment of the lien crealed by this SecurilY Inslrument or Lender's securilY inlerest. Borrower shall also be in default if
Borrower, during lhe loan application process, gave malerially false or inaccurate informotion or stalements 10 Lel1der (or failed 10
proyide Lender Wilh any mole rial information) in conneclion with the loon evidenced by the Note, including, bUI nOt Iimiled 10,
representations concerning Borrower's occupancy of Ihe ProperlY as a principal residence. If Ihis Security Inslrument is on a leaseholll,
Borrower shall comply with all the provisions of the lease. If Borrower acquires f~e title to Ihe Property,lhe leasehold anll tho fee litle shall
nol merge unless Lender agrees 10 Ihe merger in writing.
7. Prolectlon or Lender', Rlshllln Ihe Properly. If Borrower fails 10 perform the covenants ond agreements contained in IlIis Security
Instrumenl, or there is a legal proceeding thai may significantly affect Lender's rights in Ihe Property (such as a proceeding in bankruptcy,
probate, for condemnation or forfeiture or 10 enforce laws or regulations), then Lender may do and pay for whaleyer is pecessary 10
protect the voloe of the ProperlY and Lender's righls In Ihe Properly. lender's aClions may include poying any sums secured by a lien
which has priority over Ibis Security Instrument, appearing in courl, paying reasonoble alloroeys' fees and entering on Ihe Property 10
make repolrs, Although l.ender may lako aCllon under Ihis paragroph 7, Lender docs nol haye to do '0.
Any amounts disbursed by l.ender under Ihis paragraph 7. shall become additional debt of Borrower lecllred by Ihis Security
.Inslrumenl, Unless Borrower and l.ende~ 08~ee to olher lerms?f paymenl,lhcse amounls shall bear i~lere't from \h~~ale ~r disbllrSemenl
allhe Note rate and shall be poyable, Wllb.lnlerest, upon nOllco from Lender 10 Borrower requesllllS paymont. ....i<;f'?i\.'!i,!;~
g. Morl.a.e Jnsurance.l~ Lender re~\IIred mor.18.~e insllrance as a condition of makinglho loan secured by Ihla SecllrllY ,~~ '"
Borrower .holl pay the premIUms reqUired to mal~l.ltl Ibe morlgaso insurance In effect. If, for any reason, Iho mortgaso In.,,
CQyerage required by Lende~ lapses or ceas~s to be.m err.~I, Borrower sholl pay Ihe premiums required to oblaln coyerage sllbslanlially
. eqalyolent to Ihe mortgoge msuronce preYlously ID effecl, al a ell" substantially equivalent 10 the cosllo Borrower of the morlgage
.{ . , ~. , Fo1l13031 9/90 (Par' 1 al4 paS.1)
'\ "lillY, 1 n~tl \~r.i Mfl
.
Insurance previously il! erfecl, from an aile mal ortgage insurer approved by Lender, If sub Iially equivalenl morlgage Insurance
coverage is nol available, Borrower shall pay to Lender each monlh a sum equallo one-Iwelfth ollhe yearly mortgage Insurance premium
being paid br BorrolYer wher/lhe Insurance coverage lapsed or ceased 10 be in effecl. Lender will accepl, use and relaln Ihese p~ymenls as a
loss reserve In lIe\l of morlgage insurance. toss reserve payments may no longer be required, allhe opllon of Len<\l:r,if mo.rlgage insurance
coverage (in Ihe amounl and for Ihe period Ihal Lender requires) provided by an Insurer approved by Lender again becomes available and
Is oblalned, Borrower shall pay Ihe premiums required 10 malnlaln morlgage Insurance In erfecI, or 10 provide a 1011 reserve, unlillhe
requlremenl for morlsage Insurance ends In accordance with any wrltlen agreemenl bel ween Borrower and Lender or applicable law,
9. Inspection. Lender or Its agenl may make reasonable enlrles upon and inspecllons of Ihe Properly. Lender shall give Borrower
nolice allhe lime of or prior 10 an Inspection specifying reasonable cause for Ihe Inspecllon,
10. Condemnation. The proceeds of any award or claim fordamages, dlrecl orconsequenllal, In connecllon with any condemnallol\
or olher laking of any pari oflhe Properly, or for conveyance In lieu of condemnation, arc hereby assigned and shail be paid 10 Lender.
In Iheevenl ora 10lallaklng oflhe Properly,the proceedsshail be appllcd 10 the sums secured by Ihls Security Inslrumenl, whether or
nollhen due, wllh any excess paid 10 Borrower. In Ihe evenl of a parllal laking of Ihe ProperlY In which lhe fair markel value of Ihe
Properly immedlalely before Ihe laking Is equallo or greater lhan Ihe amounl oflhe .umssecured by Ihls SecurllY Irillrumenl immediately
before Ihe laking, unlcss Borrower and Lender olherwl.e agree In Wrlllng,lhe .um. .ecured by Ihl. Security Inslrumimllhall be reduced by
Ihe amounl of Ihe proceed. multiplied by Ihe following fracllon: (a) Ihe 10101 amounl of Ihe lum. .ecured Immedlalely before Ihe taking,
divided by(b)lhe fair market value oflhe Properly Immedlalely berore Ihe laking. Any balance shall be paid 10 Borrow~r.ln Iheevenl ora
parliallaklng of Ihe ProperlY In which Ihe fair markel value of the ProperlY Immedlalely before Ihe laking I. less Ihan Ihe amounl of Ihe
sumssecurcd Immedlalely before Ihe laking, unless Borrower and Lender olherwlse agree in wriling or unless applicable law olherwlse
provides, Ihe proceeds shall be applied 10 Ihe sums secured by Ihls Security Inslrumenl whelher or nollhe sums arc Ihen due.
Iflhe Properly Is abandoned by Borrower, or If, after nollee by Lender 10 Borrower Ihallhe condemnor offers 10 make an award or
seltle a claim for damage., Borrower fails 10 respond 10 Lender wllhln 30 days after Ihe date Ihe norlce Is given, Lender Is aulhorized 10
collecl and apply Ihe proceeds, ollis opllon, ell her 10 resloralion or repair of Ihe Properly or 10 Ihe sums secured by Ihls Securlly
In.lrumenl, whelher or nollhen due,
Unless Lender and Borrower olherwise ugree in wrlllng, any appllcalion of proceeds 10 principal shall nol ex lend or poslpone Ihe due
dale of Ihe monlhly paymenls referred 10 In paragraphs I and 2 or change Ihe amounl of such paymen!s.
II. 1I0rrower Nol Released; Forbearance 8y Lender Nol a Waiver. Exlenslon of Ihe lime for paymenl or modificallon of
amorlizalion oflhe sums secured by Ihls Securlly Inslrumenlgranled by Lender 10 any successor In inleresl of Borrower shall nol operale
10 release Ihe lIabilllY ofthe original Borrower or Borrower's successor. In Inleresl, Lender .hall nol be required to commence proceedings
agaln.t any .uccellor In interesl or refuse to extend time for payment or olherwlse modify amortization of Ihe .um. secured by Ihls
Security In.trument by reason of any demand made by Ihe original Borrower or Borrower's .uccessors In interest. Any forbearance by
Lender In exercising any right or remedy .hall not be a waiver of or preclude the exercise of any right or remedy.
11. Succfllon and Alliin. Bound; Jolnl and Several Liability; Co-Sllnen. The covenants and agreements of Ihls Security
Instrumenlshall bind and benefit the successors and assigns of Lender and Borrower, subject 10 the provisions of paragraph 17.
Borrower's covenants and agreements shall bejolnt and several, Any Borrower who co-signs Ihis SecurilY Instrument bul docs nolexecute
Ihe Note: (a) is co-signing this SecurilY Instrument only to mortgage, granland convey that Borrower's interest In the Property under the
lerms of Ihis Security Instrument; (b) Is nol personally obligaled to pay the sums secured by this Security Inslrumenl: and (c) agrees tha\
Lender and any other Borrower may agree to extend, modify, forbear or make any accommodalions wllh regard to the terms of this
Security Instrument or the Note without that Borrower's consent.
13. Loan Cbarlct.lfthe loan secured by this Securlly Instrument is subject to a law which sets maxim'lm loan charges and Ihallaw Is
finally Inlerpreled so Ihatthe Inlerest or olher loan charges collecled or to be collecled in connection with the loan exceed t~e permitte4
Iimlts,lhen: (a) any such loan charge shall be reduced by the amounl necessary to reduce the charge 10 the permitted limit; and (b) any sums
already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose 10 make this refund by
reducinglhe principal owed under the Note or by making a dlrecl payment 10 Borrower. If a refund reduces principal, the reduction will be
treated as a partial prepayment witboul any prepayment charge under the Note,
14. Notlect. Any notice 10 Borrower provided for in this Security Instrument sball be given by delivering it or by mailing it by firsl
class mall unless applicable law requires use of anolher method. Tbe notice shall be directed 10 the Property Address or any olher address
Ilorrower designates by no lice to Lender. Any nollce 10 Lender shall be given by first class mall to Lender's address staled herein or any
other address Lenderdesignales by notice 10 Borrower, Any notice provided for in this SecurilY Instrument shall be deemed to have been
given 10 Borrower or Lender when given as provided in tbis paragraph.
15. Governlnl"'W; Severability. This Security Instrumenl shall be governed by federal law and the law of the jurisdiction in which
Ibe "roperty is located. In Ihe event that any provision or clause oflhis Securily Instrument or the Nole conmcts wilh applicable law, such
conmclshatl not affecl other provisions oflhis SecurilY Instrument or tbe Note which can be given effect without the connlcting provision.
To this end Ihe provisions of this Security Inslrumenl and the Note arc declared to be severable.
16. Borrower" Copy. Borrower shall be given one conformed copy of the Note and of Ihis Security Instrument.
, 17, Transfer oUbe Propert, or a BenefielalIntereslIn Borrower. If all or any part of the Property or any inlerestin it Is sold or
transferred (or If. beneficial interesl in Borrower is sold or Iransferred and Borrower is nol a nalural person) withoul Lender's prior
written consel\11Lender may, 01 ils opllon, reqUire Immediate paymenlln full of all sums secured by Ihis Securily Inslrumenl. However,
Ihls opllorlsh.1 nol be exercised by Lender if exercise Is prohlbiled by federal law as of Ihe dale of Ihis Securily Instrumenl.
, I,' .'IfLendere~erclses Ihis option, Lendershallgive Borrower notice oracceleralion. The notice shall provide a period of not less Iban 30
~.y~.crom Ihe d.le Ihe notice Is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument, If
Borrower fails 10 pay these sums prior to tbe expiration of Ibis period, Lender may invoke any remedies permitted by this Security
Instrument without further notice or demand on Dorrower.
Ig. Borrower" Rllhllo Reinstate. If Borrower meets certain conditions, Borrower shall have tbe right to have enforcement of this
Securily Instrument discontinued 01 any time prior to the earlier of: (0) S days (or such other period as applicable law may specify for
reinstatemenl) before sale oflhe Property pursuant to any power of sale contained in this Security Instrumenl; or (b) entry of ajudgment
enfotcing Ibis Security Inslrumenl. Those conditions arc that Dorrower: (a) pays Lender all sums which then woutd be due under Ihls
Securlly Instrumenland Ihe Nole as If no acceleration had occurred: (b) cures any default of any olher covenants or agreements; (c) pays
aU expenses incurred In enforcinglhis SecurilY Inslrumenl, including, but not limited to, reasona~le allorneys' fees; and (d) takes such
action as Lender may reasonably require 10 assure Ihallhe lien oflhis Security Instrument, Lender's rights in lhe Property and Borrower's
obligallon to pay the sums secured by this Security Instrumentsl1all continue unchanged, Upon reinstalemenl by Borrower, Ihis Security
Inslrument and Ihe obligations '..Uted hereby shali remain fully erfective as if no acceleralion bad occurred. However, Ibis right to
reinslale shall nol apply in Ihe CBSe 01 a.coleralion under paragraph 17.
19. Sale of Nole; Cblnae of LOin Servl.... The Nole or a parllal interest in the Nole (Iogether wilh this Security Instrumenl) may be
sold onc or more limes without prior nollce to Dorrower. A sale may result In a change In the enlily (known as Ihe "Loan Servicer'~ Ihat
collects monlbly paymenls due underthe Nole and this SecurilY Inslrumenl, There also may be one or more changes oUhe l-ol" SOJVlceJ.,
unrelaled to a sale oUhe Note. Iflhere Is a change of Ihe Loan Servlcer Borrower will be given written notice of Ihe change In lIccordaiiCO;,,,' .
with paragraph 14 above and applicable law. The no lice will slale the n~me and address oflhe new Loan Servicer and Ihe address 10 which'" .
: paymenls should be made. Tbe nolice will also conlain any olher inrormation required by applicable law.
~". form 3039 (9/90) (pard 014 posts)
~~~,i" iiiiliKHJ84 I'ACE 84(1
- ' ",
.
. '10. IIlZarllous Subs;ances, Borrower shull nol cuuse or permillhe presence, use, disposal:slorage: or release of any Hazardous
. SU~s1ances on or in Ihe "roperIY, Borrower shall nol do, nor allow anyone else to do, anYlhing affeeling Ihe Property thaI is in violalion of
any Environmental Law. The preceding twosenlences shall not apply to the presence, use, or slorage on Ihe Property ohm all quantiliesof
Hazardous Substances that arc generally recognized to be appropriate to normal residenlial uses and 10 maintenance of Ihe ProperlY,
Borrower shall promptly give I.ender writlen nolice of any investigation, claim, demand,lawsuit or other acllon by any governmenlal
or regulalory agency or privale parly involving lhe Property and any lIazardous Subslance or Environmental Law of which !Iorrowerha,
aelual knowledge, If Borrower learns, or is nolified by any goveromenlal or regulaloryauthorily, lhal any removal or other remediation of
any Hazardous Substance affeeling Ihe ProperlY is necessary, Borrower shall promptly tllke 1111 necessary remedial actions In accordance
with Environmental Law,
As used in lhis paragraph 20, "lIazllrdous Suhstllnces" lire those snbstances defined as toxic or hazardous substances by
Environlllenlal Law and Ihe followingsnbslances: gllsoliue, kerosene,olher nammable or loxie petroleum prodncls, toxic peslieldes and
herbleldcs, volalile snlvenls, 1Il1l1erlals conlalnlng asheslos or formaldehyde, and radioactive lIlalerials, As used in Ihls paragraph 20,
"Envlronmenlal Law" lIleans federal laws and laws nf the Jurisdlcllon where the Properly is located that relale to health, safety or
environmental prolecllon,
NON.UNIFORM COVENANTS. lIorrower and Lender further covenant and agree as follows:
11. Aceelerallon; Remedles.l.ender shall live nollce 10 Borrower prior 100ceelerlllon rollowln. Borrower', breleh oh/lY ~o"nllll
or llreemen' hI this Securlly Inslrumenl (bul /101 prior 10 le~elerltlon under plrllrlph 17 unless Ippllcable la" provides plher""'),
I.ender shl\l /lotlry Borrower of.lmonl 01 her Ihlnls: (a) Ihe ddlllll; (b) Ihe Icllon required 10 cure Ihe derllllH (c) ,,"e!llh, "efa'''' 111111'
be ellredl en" (dllhl' failure 1<1 cure Ihe "orl,,1t u speclned maY resul, In Iccelerllloll pI' the luml lecured !ly ,hb Secllrlt)' Inslr""',,,"
(oreclolur. by Judicial proceedlnl Ind ..Ie of Ihe Properly. Lend,r shill further Inform Borrower of Ihe rllh, 10 relnllll, an'r
lecel',ltlon Ind Ih. rllhl to luorlln Ih. foreclosur. proclldlnllh. non'I.lsllne. or a ddl,dl or any olhl' dlrll\ll Dr lono"" IQ
Iccelerlllolll"d roreclosure.lflhe ddaull Is nol cured as IpeclRed.l.ender II lis 01'1 Ion may require Immedlale plYIll,,,II,, fItll 01'"11,,,,,"
Ie cured by Ihll Securlly Ins,rumenl wllhoul rurllter demand and mlY roreclose Ihls Seeurlly Inslrumenl by Judlclll prpc,edlnl. "'/ld"
Ihlll be enlllled 10 colleclall e.penses Incllrred In purslllnllhe remedies provided III Ihls paralrlph 11, Includlnl. bu' /10' IImlt,d ,",
aUorney'" rees and cosls or 11IIe evidence 10 Ihe ,.Ienl per/llllled by applicable law.
n.llelease. Upon paymenl of all slims secllred by Ihis Security Instrument, this Security Instrument and Ihe estQte conveyed shall
terminate and become void, Afler such OCCllrrence, I.ender shQII discharge and sallsfy Ihis Security Inslrument wilholll charge ,n
Borrower, Borrower shall pay any recordalion cas Is,
13. Waivers. Borrower, to the extellt permined by applicable IQw, waives and releases any error or defecls In proceedings 10 enrnfl:C
Ihis Security Inslrllment, and hereby waives Ihe benefit of Qny present or fllture laws providing for stay of execution, eXlensioll ofll",e,
exempli on from QUachment, levy and sale, and homes lead exemption.
14. Re!nslalemen, I'erlod.llorrower's time 10 reins late provided in paragraph 18 shall extend to one hour prior 10 Ihe commencelllelll
of bidding al a sherirrs sale or olher sale pursuant 10 this Security Instrllmenl.
15. Purchase Money Morlgage. If any of the debt sec4red by Ihis Security Instrllment is lent to 1I0rrower to acquire lille 10 Ihe
I'roperlY, Ihis Security Instrumelll shall be a purchase money mortgage.
'16. Inlereslllale Mler Judlmenl. Borrower agrees thatlhe interest rate payable after a jlldgment is enlered on Ihe !IIole or In a"
acllon of morlgage foreclosure shall pc the rate payable from lime to lime under Ihe Note.
17. Illders 10 Ihls Securlly Inslrumen'. If one or more riders arc executed by 1I0rrower and recorded together wit" Ihis Security
Instrumenl, the covenants and agreements of each such rider shall be incorporated into and shall amend and supplemenlthe covenanl,
and agreements of lhis Security Inslrument as if Ihe rider(s) were a part of Ihis Security Instrument, [Check applicable box(es)]
~ Adjuslable Rale Rider D Condominium Rider D 1-4 Family Rider
D Gradllaled Payment Rider D Planned Unit Development Rider D Biweekly Payment Rider
D lIalloon Rider D Rate Improvement Rider D Second Home Rider
D Olher(s) [specify]
BY SIGNING BELOW. Borrower accepts and agrees 10 lhe lerms and covenanls conlained in lhis Security Instrumen, and ill any
riderls) execuled by 1I0rrower and recorded wilh il. .
Witnesses:
.~.;l1.<~~~.,..........
ik/Mk..1 .;< CUt.
...... ............ ................ ......... .... 00.... (Scql)
Dennis I.. 0 t t -Borrower
rf\ ........,...~..,~i...~~~~~.......
v' 0"
l'v')
'."
;:-t,
Social Security Number .....................................
. . ~/Y:Lb/J(fr- 0dJff... . . . .. .. .. .. .. .. ....,. .. (Seal)
Ki~jf';fly S. Ott/ -Borrower
Social Securily Number
.....................................
(Spice B.1." This II.. For ^cl..",.d&montJ
, t1t>1':'!.;IRolfd
.~~!~:.~. \~rf~~"r!'~:4rlY PlltJll~
~A~~,~l~ 1l.1'JI,~, \~W"~~!I";I'~1 (~S!!1I'y
.11'I11~;"n,.. '~~!'il L:I,lhll r ioU. B, I'f>>
.-.... ,..........-. ._....,.,...........~--...._--
1 hereby cerlify Ihullhe precise IU.hJU:SS of Ihe wilhin MUrlguKce (tender) il
Tille ur Oencel
Bur '084 rACt M',
Form 303S (S/SOl (I'U,' 4 'if 4/"'...)
ADJUSTABLE RATE LOAN RIDER
NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WHICH CONTAINS
A PROVISION ALLOWING FOR CHANGES IN THE INTEREST RATE. IN.
CREASES IN THE INTEREST RATE WILL RESULT IN HIGHER PAYMENTS.
DECREASES IN THE INTEREST RATE WILL RESULT IN LOWER PAYMENTS.
This Rider is made this.. .~~."., day of .... ~~Y......., , . "., 19,. ?~.., and is incorporated into and shall be
deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt(the"Security Instrument'') of the
same date given by the undersigned (the "Borrower'') to secure Borrower's Note to ..........,...,.,..........,...
ORRSTOWN BANK
.......................................................................................................
(the "Lender'') of the same date (the "Note'') and covering the property described in the Security Instrument and
located at ... Ul.2 . t.Pngv1.11~ .1}~,..~Q1.PP,'lQlIl>.l\1;ll:. 1".'\\ . P,4~ 7. , . . . .. , . . .. .. .. . .. .. .. . , . .. . . ... . .. . . , . . . . .
ProperlY Address
Modifications. [n addition to the covenants and agreements made in the Security Instrument. Borrower and Lender
further covenant and agree as follows:
A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
The Note has an "Initial Interest Rate" of , . ~: 7';>, , . . %' The Note interest rate may be increased or decreased on the
'... ~f>.... day of the month beginning on, ..fij\lll....,....,..,......, 19. .~~.., and on that day of the month every
. . . . 12. . .. months thereafter,
Changes in the interest rate are governed by changes in an interest rate index called the "[ndex." The Index is the:
[Chock one box 10 Indlco" fndu.)
(I) O. "Contract Interest Rate, Purchase of Previously Occupied Homes, National Average for all Major Types of
Lenders" !!!Iblished by the Federal Home Loan Bank Board,
(2) [S. .Meekly..aYA1;agll,~te~.Q\l.~nt.~q,~.~~'l~.A~'lall~~,~~~qr~k~'l~.Aqj~~k'l4.~~.~.,..
.... t:.austant.lDIltur:l.tty. A~. pnEl.yllAI;....,.........................,..... ,................... .. ...,.
[Chtck tht appropria'~ box(t!) to Indlca't whtlhlf ,hi" II any maximum limit on inrtrtJl ralt changts andlor IimitJ on ,hi inttrtSI ralt undrr thl Nou:
/fno box is chtcktd. thlrt will bt no maximum /lmll on changts and no /lmll! on Ih~ Il1ItrtJI ralt.]
(I) 0 There is no muimum limit on changes in the interest rate at any Change Date.
(2) Gi The interest rate cannot be changed by more than. . . .J.., . . .. percentage points at any Change Date,
The Interest rate will never be more than 1 ? 7 ~ % or less than 7.50 %.
[fthe interest rate changes, the amount of Borrower's monthly payments will change as provided in the Note. Increases
in the interest rate will result in higher payments. Decreases in the interest rate will result in lower payments.
B. LOAN CHARGES
It could be' that the loan secured by the Security Instrument is subject to a law which sets muimum loan charges and
that law is interpreted so that the interest or other loan charges collected or to be collected in connection with the loan would
exceed permitted limits. If this is the case, then: (A) any such loan charge shall be reduced by the amount necessary to reduce
the charge to the permitted limit; and (B) any sums already collected from Borrower which exceeded permitted limits will be
refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making
a direct payment to Borrower.
C. PRIOR LIENS
[f Lender determines that all or any part of the sums secured by this Security Instrument are subject to a lien which has
priority over this Se~urity Instrument, Lender may send Borrower a notice identifying that lien. Borrower shall promptly
act with regard to that lien as provided in paragraph 4 of the Security Instrument or shall promptly secure an agreement in a
form satisfactory to Lender SUbordinating that lien to this Security Instrument.
D. TRANSFER OF THE PROPERTY
If there is a transfer of the Property subject to paragraph 17 of the Security Instrument, Lender may require (I) an
increase in the current Note interest rate, or (2) an increase in (or removal 00 the limit on the amount of anyone interest rate
change (if there is a limit), or (3) a change in the Base Index figure. or all of these, as a condition of Lender's waiving the
option to accelerate provided in paragraph 17.
By signing this. Borrower agrees to all of the above.
..,. .~0:0..1... r:#t::............ (Seal)
- Borrower
i 1/,~ -v 1,,'/ of.{{fL
.. ,~'. 'J.'.i!J~UQ I...... LJ........"........... (Seal)
r -Borrower
. If mart ,han ont bo:r is chtcktd or if no box is chtcktd. and undtr and Borrowtr do nOl o,htr' t aKrtt in writing. ,ht firs, Indt.'t namtd will apply,
NEW JERSEY AND PENNSYLVANIA
UHCOJtSUMlllJ'OIlMUSM.IUIRt.."UI
BOOK1084 PAGE 849
-,
.AbJUSTABLE RATE NO'Hi::
.. .. ".
..
NOTICE TO BORROWER: THIS NOTE CONTAINS A PROVISION ALLOW.
ING FOR CHANGES IN THE INTEREST RATE. INCREASES IN THE
INTEREST RATE WILL RESULT IN HIGHER PAYMENTS. DECREASES
IN THE INTEREST RATE WILL RESULT IN LOWER PAYMENTS.
. . .1141. . ~~" . I . . . . . . . . . . I . . . . . I 19. . ~ ~ .
. . . . .Sp;1PP~J1IiP!1Fg. . . . . . . I .. . . . r~!. I . . f . . I . . . . .
City
State
. ..~q~ .~qq~1.~~ .I~r;.. .. . .. .. .. .. pllilPP!!p'!?\lf8 . . . . . . . . . .~l\'. . . . . . . . . . . . . }"7.2~7. . . .. .. .. . .. .
Pro~rty Address City Stale Zip Code
1. BORROWER'S PROMISE TO PAY
In return for a loan that I have received, I promise to pay U,S. S. .7.2,..0.0.0...0.0. . . . . . , , . (this amount will be
called "principal"), plus Interest, to the order of the Lender. The Lender is . ,q~~:r,q~, ~,~, . . . . , , . , . . .. , .. , . ..
P.O. BOX 60. Orrstown Pa. 17244
......................................................................................................
I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and
who is entitled to receive payments under this Note will be called the "Note Holder".
2~ INTEREST
Interest will be charged on that pan of oUlSlanding princip'al which has not been paid. Interest will be charged
beginning on the date I receive principal and continuing until the full amount of ~rincipall receive has been paid.
Beginning on the date of this Note, I will pay interest at a yearly rate of , ,7,'.. ~, , .. .. , .. .. . OJ, (the "Initial In.
terest Rate"). The interest rate that I will pay will change in accordance with Section 4 of this Note until my loan is paid.
Interest rate changes may occur on the. . ~~. day of the month beginning on . . .~y. . . . . . , . . . . , . . . , . . . . , . , ,
19.~~.. and on that day of the month every '... .~2,......"".. months thereafter, Each date on which the rate
of Interest may change will be called a "Change Date".
3. PAYMENTS
(A) Time and Place of Payments
I will pay principal and interest by making payments every month. I will make my monthly payments on the
..26. day of each month beginning on . . . June. , . . , . . . . . . . . . . . . . . . . .19. . 92.. I will make these payments
until I have paid all of the principal and interest and any other charges, described below, that I may owe under this
Note. I will pay all sums that I owe under this Note po later than. . . . . 5:-28:-11. . . . . . . . . . . . . . . ., ... . , . . . . .
(the "final payment date").
I will make-my monthly payments at , . . P . o. . Box. 60. .0I:I:ato.wn ]! A., l72M+, . . . . . . . . . . . . . , , , .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . . . . . . . . or at a different place if required by the Note Holder.
(8) Borrower's Payments Before They Are Due
I have the right to make payments of principal at any time before they are due. A paymenl of principal only is
known as a "prepayment". When I make a prepayment. I will tell the Note Holder in writing that I am doing so. I may
make a full prepayment or a partial prepayment without paying any penalty. The Note Holder will use all of my
prepayments to reduce the amount of principal that I owe under this Note. If I make a partial prepayment. there will be
no delays in the due dates of my monthly payments unless the Note Holder agrees in writing to those delays. My panial
prepayment will reduce the amount of my monthly payments after the first Change Date following my panial prepay-
ment. However. any reduction due to my partial prepayment may be offset by an interest rate increase,
(e) Amount of Monthly Payments
My initial monthly payments will be in the amount of U.S. S. . .s.43...7.8. . . . . . . . . . .. If the interest rate
that I pay changes, the amount of my monthly payments will change. Increases in the interest rate will result in higher
payments (unless my prepayments since the last Change Date offset the increases in my monthly payments). Decreases
in the interest rate will result in lower payments. The amount of my monthly payments will always be sufficient to repay
my loan in full In substantially equal payments by the final payment date. In setting the monthly payment amount on
each Change Date, the Note Holder will assume that the Note Interest rate will not change again prior to the final pay.
ment date.
EXHIBIT
PENNSYLVANIA AND NEW JERSEY - ADJUSTABLE RATE LOAN NOTE (Mlrtial
_B
ALL.sTATt.INTERHAnoNAl
"
'.
4. INTEREST RATE CHANGES
(A) The Index
Any changes in the interest rate will be based on changes in an interest rate index which will be called the "Index."
The Index is the: ICh,cIc on' box 10 Indica" Indu.]
(I) O. "Contract Interest Rate, Purchase of Previously Ocoupied Homes, National Average for all Major
Types of Lenders"rb~~~~ by ~~ee~~de~a1 ~~rJ ~~anu~1~e:o~~dates Treasu Securities adjusted to
(2) (! ...... .f....... ~. .f.................................. Fr.............................
. !i. .qq~!I.t.l!I}~. .D!I!-~!1;r.::I:~Y. .q~. ~A~. "i~.B:r;:.... ...... . . ... ... .. . . . .. ... ... .... ... ... . . ... ..... . .. .. . ... .....
If the Index ceases to be made available by the publisher, or by any successor to the publisher, the Note Holder
will set the Note interest rate by using a comparable index.
(B) Settlnll tbe New Interest Rate
To set the new interest rate, the Note Holder will calculate my new interest rate by adding . '?:?~.........
~~r'c~~~~~~ ~'~i~~~ (: : i; 7:5: : : : %) ~~ ~h~ c~~~~'t 'I~~ie~. Th~ c~~~~~ 'I~d'e~ fi~~~~ i~ ~h~ ~~~t' ;c'c~~~ 'l~~ie~ fi~~~~ ~~~iia'bl~
. ;;J. . .... . days prior to each Change Date. The Note Holder will then round the result of this addition to the nearest
. ;1).&..... of one percentage point (P...H? .., %). Subject to the limits stated below, the rounded amount will bemynew
interest rate until t.he next Change Date,
[Ch~ck ,h, approprlatt box('l) 10 'ndlcDIt wht,h" ,h", u any maximum /lmil on Inltrt!l ralt chang,s andl or Um/IS on th, In,t,tlt ralt und,r thlJ nOli:
I/no box b cMclud. thl" will bl no maximum limit on chang,! and no IImlu on thl Inltn,n ralt.]
(I) 0 If this box is checked, there will be no maximum limit on changes in the interest rate up or down. The
preliminary rate will be the new interest rate. '
(2) [] If this box is checked,the interest rate will not be changed by more than.. . )... . .. . percentage points
on any Change Date. The Note Holderwill adjust the preliminary rate so that the change in the interest rate will not be more
than that limit. The new interest rate will equal the figure that results from this adiustment of the preliminap, !~te,
(3) ClJ Ifthisboxischecked,theinterestratewillneverbemorethan... ~:,7.~.. %orlessthan........... %.
(C) Effective Date of Chanlles
Each new interest rate will become effective on the next Change Date. If my monthly payment changes as a result
of a change in the interest rate, my monthly payment will change as of the first monthly payment date after the Change Date.
(D) Notice to Borrower
The Note Holder will mail me timely notice as required by law if the interest rate is to change. The notice will
advise me of:
(i) the new interest rate on my loan;
(il) the amount of my new monthly payment; and
(ill) any additional matters which the Note Holder is required to disclose.
S. BORROWER'S FAILURE TO PAY AS REQUIRED
(A) Late Cbarle for Overdue Payments
If the Note Holder has not received the full amount of any of my monthly payments by the end of .. .:I,~.....
calendar days after the date it is due, I will pay a late charge to the Note Holder, The amount of the charge will be
. . .5. . . . . . % of my overdue payment of principal and interest. I will pay this late charge only once on any late payment.
(B) Default
If I do not pay the full amount of each monthly payment by the date stated in Section 3(A) above I will be in
default.
(C) Notice From Note Holder
If I am in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue
amount by a cenain date the Note Holder may require me to pay immediately the full amount of principal which has not
been paid and all the interest that I owe on that amount. That date must be at least 30 days aflerthe date on which the notice
is mailed to me.
Even if, at a time when I am in default, the Note Holder does not require me to pay immediately in full as
described above, the Note Holder will still have the right to do so if I am in default at a laler time.
. lImon than ont box lJ chtcktd or fino box Is checked. and undtr and Borrowtr do not oth~iJt ~rru In wrl,lnr. thtftr!t Indtx namtdwllllJpply.
,.
...
.
.
(D) Payment 01 Note Holder's COils and Expenses . ,
If the Note Holder has required me to pay Immediately In full as de.lcrlbed above. the Note Holder will have
the rlllhtto be pald back by me for all 115 reasonable costs and expenses to the extent not prohibited by applicable law.
Those expenses may Include, for example. reasonable anomeys' fees.
6. WAIVERS-
Anyone who signs this Note to transfer It to someone else (known as an "endorser") waives certain rights. Those
rlllhts are (A) the rlghtto require the Note Holder to demand payment of amounts due (known as "presentment") and
(8) the rlsht to require the Note Holder to give notice that amounts due have not been paid (known as "notice of
dishonor").
7. GIVING OF NOTICES
Except for the notice provided In Section 4(0). any notice that must be given to me under this Note will be given by
mailing It by certified mall. All notices will be addressed to me at the Propeny Address above, Notices will be mailed to
me at a dIfferent address If I give the Note Holder a notice of my different address.
Any notice that must be given to the Note Holder under this Note will be given by mailing It by certified mall to the
Note Holder at the addre.ls stated In Section 3(A) above. Notices will be mailed to the Note Holder at a different addres~
If I am given a notice of that dIfferent address.
8. RESPONSIBILITY OF PERSONS UNDER THIS NOTE
If more than one person signs this Note. each of us Is fully and personally obligated to pay the full amount owed
and to keep all of the promises made In this Note. Any guarantor. surety, or endorser of this Note is also obligated to do
these things. The Note Holder may enforce Its rights under this Note against each of us Individually or against all of us
together. This means that anyone of us may be required to pay all of the amounts owed under this Note.
Any person who takes over my rights or Obligations under this Note will have all of my rights and must keep all of
my promises made in this Note. Any person who takes over the rights or obligations of a guarantor, surety. or endorser
of Ihls Note is also obligated to keep all of the promises made in this Note.
9. LOAN CHARGES
It could be that this loan is subject to a law which sets ma.~imum loan charges and that law is interpreted so thatlhe
interest or other loan charges collected or to be collected in connection with this loan would exceed pcrmitted limits. If
this is the case, then: (A) any such loan charge shall be reduced by the amount necessary to reduce the charge to the per-
mitted limit: and (8) any sums already collected from me which exceeded permitted Iimils will be refunded to me. The
Note Holder may choose to make this refund by reducing the principal I owe under this Note or by making a direct pay.
ment to me. If a refund reduces principal, the reduction will be treated as a partial prepayment,
10. THIS NOTE SECURED BY A MORTGAGE
In addition 10 the protections given to the Note Holder under this Note, a MOrlgage, daled
. . ~y, 7p ". . . . . , . . . . . . , . . , . . ., 19. . 92. protects the Note Holder from possible losses which might resull if I
do not keep the promises which I make in this Note. That Mortgage describes how and under what conditions I may be
required to make immediate payment in full of all amounts that I owe under this NOle. One of those conditions relales
to any transfer of the property covered by the MOrlgage. In that regard, the MOrlgage provides in paragraph 17:
17. Transfer of the Property: Assumption. If all or any pan of the Property or an interest therein is sold or
transfcrred by Borrower without lender's prior written consent, excluding (a) the creation of a lien or encumbrance
subordinate to this Mortgage, (b) the creation of a purchase money security interest for household appliances. leI a
transfer by devise, descent or by operation of law upon the death ofajoint tenant or (d) the grant of any leasehold interest
ofthree years or less not containing an option to purchase, lender may, at lender's option. declare all the sums secured by
this Mongage to be immediately due and payable. Lender shall have waived such option 10 accelerate if, priorto the sale or
transfer, lender and the person to whom the Property is to be sold or transferred reach agreemenl in writing that the credit
of such person is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such
rate as lender shall request. If lender has waived the option 10 accelerate provided in this paragraph 17. and if Borrower's
successor in interest has executed a written assumption agreement accepted in writing by lender, lendtr shall release
Borrower rrom all obligations under this Mongage and the Note.
If lender exercisessuch option to accelerate, lender shall mail Borrower nOlice of acceleration in accordance
with paragraph 14 hereof, Such notice shall provide a period of not less than 30 days from the date the notice is mailed
within which Borrower may pay the sums declared due. If Borrower fails to pay such sums priorto lheexpiration or such
period, lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 18
hereof.
,.
I~&-' ;f;:',/I'#..:.,2) ;l1.!;.',,,,:('.:. ,."K;J....:..'i/11 -!J)
, ~ /)"" -"71, ,...,..., /, _, -.
, . I,(J.',- .;,r-,..- I.::J~ w~ ..) a~) I
ORRSTOWN BANK '(ff
.t. .. '
..., '. ....i
NOTIcn OF INTENTION TO FORECLOSE MORTGAGE
To : Dennis L. Ott
1326 Ritner Hwy.
Shippensburg, Pa. 17257
~ Benjamin J. Ott, Jr.
Date of notice: Oct. 01, 1997
Account t: ML 1050001920
Property Location:
102 Longview Drive
Shippensburg, Pa.
Twp. of : Shippensburg
County of: cumberland
The Mortgage held by ORRSTOWN BANK (hereinafter called
WE, US OR OURS) on your property located at the above address is in
serious default because you have not made the monthly payments of
$ 585.73 for the months of 07/26, 08/26, & 09/26/97. The total amount
now required to cure this default, or in other words get caught up in
your payments as of this letter is $ 1,915.75, this includes a late fee
of $ 58.56 and a collection fee of $100.00.
You may cure this default within Thirty-Days of the date
of this letter by paying to us the above amount plus any
additional payments and late charges which may fall due
during this period. Such payments must be made either by
Cash, Cashier's Check or Money Order and made at the LURGAN
AVE. OFFICE in Shippensburg, Pa. 17257.
If you do not cure the default within Thirty-Days (30),
we intend to exercise our right to accelerate the Mortgage
payments. This means that whatever is owing on the original
amount borrowed will be considered due immediately and you
may lose the chance to payoff the original Mortgage in
monthly installments. If full payments of the amount of
default is not made within THIRTY-DAYS, we also intend to
instruct our attorney to start a lawsuit to foreclose your
Mortgaged property. If the Mortgage is foreclosed, your
Mortgaged property will be sold by the Sheriff to payoff the
Mortgage debt. If we ~efer your case to our attorney, but you cure the
default before the begin legal proceedings against you, you will still
have to pay the reasonable attorney's fees, actually incurred, up to
$50.00. However, if legal proceedicgs are started against you; you will
have to pay the reasonable fees even if they are over $50.00. any
attorney's fees will be added to whatever you owe us, which
may also include OUR reasonable costs. If you cure the default within
the Thirty-Day period, you will not be required to pay the attorney's
fees.
We may also sue your personally for the unpaid balance and all other
sums due under the Mortgage,
If you have not cured the default within the Thirty Da
period and the foreclosure proceedings have begun, you
still have the right to cure the default and prevent the
sale at any time up to one hour before the Sheriff's Sale.
1)-1.
P.O. BOX 250
.
SHIPPENSBURG, PA 17257
.II.WTATP IN1iIIIWlONAL
TEL (717) 532-6114
, ~
.. to.
Page : 2
You may do so by paying the total amount of the unpaid
monthly payments plus any late or other charges then due,
as well as the reasonable attorney's fees and costs connected
with the foreclosure sale and perform any other requirements
under the Mortgage. It Is estimated that the earliest date
that such a Sheriff's Sale could be held would be approximately 60 days
from your receipt of this notice, you will be informed in writing of
the date of the Sheriff's Sale, this will be sent to you before the
sale. Of course, the amount needed to cure the default will increase
the longer you wait. You may find out at any time exactly what
the required payment will be by calling the following number, (717)
530-2663. This payment must be in Cash, Cashier's Check, Certified
Check or Money Order and made payable to us at the address stated
below:
ORRSTOWN BANK, P.O. BOX 250, SHIPPENSBURG, PA. 17257 ATTN:
ALBERT H. "BUCK" SHULLER,JR., COLLECTION DEPARTMENT.
You should realize that a sheriff's Sale will end your
ownership of the Mortgage Property and your right to remain
in it. If you continue to live in the property after the
Sheriff's Sale, a lawsuit could be started to evict you.
You have additional rights to help protect your interests
in the property. You have the right to sell the property to obtain
money to payoff the Mortgage Debt, or borrow money
from another lending institution to payoff your debt.
You may have the right to sell or transfer the property
subject to the mortgage to a buyer or transferee who will
assume the Mortgage Debt provided that all the outstanding
payments, charges, and attorney's fees and costs are paid
prior to or at the sale, and that the other requirements
under the Mortgage are satisfied. You can contact us to
determine under what circumstances this right might exist.
You have the right to have the default cured by any third
party acting on your behalf,
If you cure the default, the Mortgage will be restored
to the same position as if no default has occurred. However,
you are not entitled to this right to cure your default more
than three times in any calendar year.
~~
ALBERT H. " UCK" ~ER JR.
COLLECTION DEPARTMENT
(717) 530-2663
'.
".
/I!.tIi~1) /,i::t;f;'/t. A',(',t...
~ fP/-S'8 ~'3 ?'&1e
ORRS1OWN BANK f:1
/d~/;t;l
.
.
NOTICE OF INTENTION TO ~ORECLOSE MORTGAGB
Date of notice: Oct. 01, 1997
Account t: NL 1050001920
Property Location:
102 Longview Drive
Shippensburg, Pa.
Twp. of : Shippensburg
County of: Cumberland
To Kimberly S. Ott
419 Bast King St.
Shippensburg, Pa. 17257
The Mortgage held by ORRSTOWN BANK (hereinafte~ called
WE, US OR OURS) on your property located at the above address is in
serious default because you have not made the monthly payments of
$ 585.73 for the months of 07/26, 08/26, & 09/26/97. The total amount
now required to cure this default, or in other words get caught up in
your payments as of this letter is $ 1,915.75, this includes a late fee
of $ 58.56 and a collection fee of $100.00.
You may cure this default within Thirty-Days of the date
of this letter by paying to us the above amount plus any
additional payments and late charges which may fall due
during this period. Such payments must be made either by
Cash, Cashier's Check or Money Order and made at the LURGAN
AVE. OFFICE in Shippensburg, Pa. 17257.
If you do not cure the default within Thirty-Days (30),
we intend to exercise our right to accelerate the Mortgage
payments. This means that whatever is owing on the original
amount borrowed will be considered due immediately and you
may lose the chance to payoff the original Mortgage in
monthly installments. If full payments of the amount of
default is not made within THIRTY-DAYS, we also intend to
instruct our attorney to start a lawsuit to foreclose your
Mortgaged property. If the Mortgage is foreclosed, your
Mortgaged property will be sold by the Sheriff to payoff the
Mortgage debt. If we refer your case to our attorney, but you cure the
default before the begin legal proceedings against you, you will still
have to pay the reasonable attorney's fees, actually incurred, up to
$50.00. However, if legal proceedings are started against YOUj you will
have to pay the reasonable fees even if they are over $50.00. any
attorney's fees will be added to whatever you owe us, which
may also include OUR reasonable costs. If you cure the default within
the Thirty-Day period, you will not be required to pay the attorney's
fees.
We may also sue your personally for the unpaid balance and all other
sums due under the Mortgage,
If you have not cured the default within the Thirty Day
period and the foreclosure proceedings have begun, you
still have the right to cure the default and prevent the
sale at any time up to one hour before the Sheriff's Sale.
EXIBIT
jJ- 2..-.-
All..aTAll' \H111\NA11OfW,
P.O. BOX 250
.
SHIPPENSBURG. PA 17257
TEL (717) 532.6114
. .
Page ~ 2
You may do so by paying the total amount of the unpaid
monthly payments plus any late or other charges then due,
as well as the reasonable attorney's fees and costs connected
with the foreciosure sale and perform any other requirements
under the Mortgage. It is estimated that the earliest date
that such a Sheriff's Sale could be held would be approximately 60 days
from your receipt of this notice, you will be informed in writing of
the date of the Sheriff's Sale, this will be sent to you before the
sale. Of course, the amount needed to cure the default will increase
the longer you wait. You may find out at any time exactly what
the required payment will be by calling the following number, (717)
530-2663. This payment must be in Cash, Cashier's Check, Certified
Check or Money Order and made payable to us at the address stated
below:
ORRSTOWN BANK, P.O. BOX 250, SHIPPENSBURG, PA. 17257 ATTN:
ALBERT H. "BUCK" SHULLER, JR., COLLECT ION DEPARTMENT.
You should realize that a sheriff's Sale will end your
ownership of the Mortgage Property and your right to remain
in it. If you continue to live in the property after the
Sheriff's Sale, a lawsuit could be started to evict you.
You have additional rights to help protect your interests
in the property. You have the right to sell the property to obtain
money to payoff the Mortgage Debt, or borrow money
from another lending institution to payoff your debt.
You may have the right to sellar transfer the property
subject to the mortgage to a buyer or transferee who will
assume the Mortgage Debt provided that all the outstanding
payments, charges, and attorney's fees and costs are paid
prior to or at the sale, and that the other requirements
under the Mortgage are satisfied. You can contact us to
determine under what circumstances this right might exist.
You have the right to have the default cured by any third
party acting on your behalf.
If you cure the default, the Mortgage will be restored
to the same position as if no default has occurred. However,
you are not entitled to this right to cure your default more
than three times in any calendar year.
,.....-) ~.
vprv~~y .0 RS~
/ &!Y ,/..,
~ . .~
A BE~ ~UC~LER
COLLECTION DEPAR ENT
(717) 530-2663
JR.
't@"fP)Y , . ~
ORRSTOWN
4,11J,~?J G;:3'plf'7
Gt!H/../, -IF? ~7 /07 /).3
BANi<Zii'
IHPORTAft: BO'lICB or ROMBOWIBRS I
BMlRGBBCY HORTGAGB ASSISTABCB ACf 0' 1983
Date : June 30, 1997
RI : Account No.: HL 1050001920
To :
Dennis L. ott
102 Longview Drive
Shippensburg, Pa. 17257
Prop. Loc.: 102 Longview Drive
Shippensburg, Pa.
Twp. Shipp ens burg
County Cumberland
'rom Orrstown Bank
P.O.BOX 250
Shippensburg pa 17257
Your mortgage is in serious default because you have
failed to pay promptly installments of principal and interest, as
required, for a period of at least sixty (60) days. The total amount
that you now owe is $ 2,957.69. The sum is broken down as follows:
payments due for 02/26, 03/26, 04/26, OS/26 & 06/27/97, at * 564.76
per month.This figure includes a late fee of $ 112.92.
You may be eligible for financial assistance that will prevent
foreclosure on your mortgage if you comply with the provisions of the
Homeowners' Emergency Mortgage Assistance Act of 1983 (the. ACT) . You
may be eligible for emergency temporary payment assistance if your
default has been caused by circumstances beyond your control, and
if you meet the eligibility requirements of the Act as determined by
the Pennsylvania Housing Finance Agency. Please read all of this
notice. It contains an explanation of your rights.
Under the Act, you are entitled to a temporary stay
of foreclosure on your mortgage for Thirty (30) Days from
the date of this Notice. During that time you have the
righ.t to arrange a "face -to face" meeting with a representative of
this lender, or with a consumer credit counseling agency. The purpose
of that meeting is to attempt to work out a repayment plan, or to
otherwise settle your delinquency. That meeting must occur in the next
Thirty (30) Days.
If you attend a face to face meeting with this lender or a
consumer credit counseling agency identified in this notice, no further
proceeding in mortgage foreclosure may take place for Thirty (30) Days
after the date of that meeting.
EXHIBIT
.E-=-1-
AU.sTAfEO IN1tRNAllONAL
P.O. BOX 250
.
SHIPPENSBURG, PA 17257
.
,
Paq. . 2
Notice, of Homeowners' Bmergency
Kortgaq.Assistance Act of 1983
The name, address and telephone number of our
representative is
Albert H. (Buck) Shuller
Orrstown Bank:
P.O. Box 250
Shippensburg, Pa. 17257
Telephone # (717) 530-2663 or (717) 532-6114
The name (s) and addressees) of a designated consumer credit
counseling agency (ies) is (are) :
PBKNSYLVANIA HOUSING AUTH.
Y.W.C.A. PAM LINE or CATHY BELCHER (717) 243-3818
ACT#91 HOHES RESOURCE CENTER
301 "G" STRBET
CARLISLB PA 17013
It is only necessary to schedule one face to face meeting.
You should advise this lender immediately of you intentions.
If you have tried and are unable to resolve this problem
at or after your face -to face meeting, you may apply for
financial assistance from the Homeowners' Bmergency Mortgage
Assistance Fund. In order to do this, you must fill out,
sign and file a completed Homeowners' Emergency Assistance
Application with the Pennsylvania Housing Finance Agency.
The consumer credit counseling agency will assist you in
filling our your application. It must be filed or postmarked,
within Thirty (30) Days of your face to face meeting.
You may either mail your application to the Pennsylvania
Housing Finance Agency, or you may file it at the offices of
one of the designated consumer credit counseling agencies
listed above.
The Pennsylvania Housing Finance Agency is located at:
2101 North Front Street, P,O. BOX 15530, HarriSburg, Pa. 17105
Telephone No. (7L7)-780-3940 or 800-342-2397 (Toll Free #)
An application for assistance may be obtained from a
consumer credit counseling agency, or directly from Pennsylvania
Housing Finance Agency.
It is extremely important that you file your application
promptly. If you do not do so, or if you do not follow the
other time periods set forth in this letter, foreclosure may
proceed against your home immediately.
'. ~. /I/#lMlJ . 6/ao/~7 .
~tA\ rB),~~' CE7ZT1.#:P3-87 IO~ /~-
~ 0 tP u ~ ~ ;ob ..-,..L "dl1
ORRSTOWN BANK ~~
IMPORTAft:: IfOTICB or ROMBOWRBRS I
BMBRGBBCY MORTGAGB ASSISTABCB AC'f' or 1983
To ~
Kimberly S. Ott
102 Longview Drive
Shippensburg, Pa. 17257
Date :: JUne 30,. 1997
Prop. Loc.,: 102 Longview Drive
Shippensburg, Pa.
Twp . Shippensburg
County Cumberland
RI : Account No. r H& 1050001920
From Orrstown Bank
P.O.BOX 250
Shippensburg Pa 17257
Your mortgage is in serious default because you have
failed to pay promptly installments of principal and interest, as
required, for a period of at least sixty (60) days. The total amount
that you now owe is , 2,957.69. The sum is broken down as follows:
payments due for 02/26, 03/26, 04/26, OS/26 & 06/27/91, at , 564.76
per month. This figure includes a late fee of , 112.92.
You may be eligible for financia~ assistance that will prevent
foreclosure on your mortgage if you comply with the provisions of the
Homeowners' Bmergency Mortgage Assistance Act of 1983 (the AC'1!) . You
may be eligible for emergency temporary payment assistance if your
default has been caused by circumstances beyond your control, and
if you meet the eligibility requirements of the Act as determined by
the Pennsylvania Housing Finance Agency. Please read all of this
notice. It contains an explanation of your rights.
Under the Act, you are entitled to a temporary stay
of foreclosure on your mortgage for Thirty (30) Days from
the date of this Notice. During that time you have the
right to arrange a "face -to face" meeting with a representative of
this lender, or with a consumer credit counseling agency. The purpose
of that meeting is to attempt to work out a repayment plan, or to
otherwise settle your delinquency. That meeting must occur in the next
Thirty (30) Days.
If you attend a face to face meeting with this lender or a
consumer credit counseling agency identified ~ this notice, no further
proceeding in mortgage foreclosure may take place for Thirty (30) Days
after the date of that meeting.
EXHIBIT
J5 -'1
.w..sTATE' INlERNATIOHAL
P.O. BOX 250
SHIPPENSBURG, PA 17257
.
TEL (717) 532-6114
.
I!aqa . :z
Not!c. of Romeownerlrt BmeJ:gency
Mortgage Assistance Act of 1983
The name, address and telephone number of our
J:epJ:esentative is :
Albert R. (Buck) Shuller
Orrstown. Bank
P.O. Box 250
Shippensburg, Pa. 17257
Telephone' (717) 530-2663 or (717) 532-6114
The name (s) and address(es) of a designated consumer credit
counseling agency (ies) is (aJ:e) :
PBHNSY&VAKIA HOUSING AUTR.
Y.W.C.A. PAM &INB or CATHY BB&CHBR (717) 243-3818
ACT'91 HOHBS RBSOURCB CBNTER
301 "G" STRBBT
CAR&ISLB PA 17013
It is only necessary to schedule one face to face meeting.
Yo~ should advise this lender immediately of yo~ intentions.
If yo~ have tried and. are unable to resolve this problem
at or after your face -to face meeting, you may. apply for
financial assistance from the Homeowners' Emergency Mortgage
Assistance Fund. In order to do this, you must fill out,
sign and file a completed Homeowners' Bmergency Assistance
Application with the Pennsylvania Housing Finance Agency.
The consumer credit counseling agency will assist yo~ in
filling our your application. It must be filed or postmarked,
within Thirty (30) Days of your face to face meeting.
Yo~ may either mail your application to the Pennsylvania
Housing Finance Agency, or you may file it at the offices of
one of the designated consumer credit counseling agencies
listed above.
The Pennsylvania Housing Finance Agency is located at:
2101 NOJ:th Front Street, P.O. BOX 15530, Harrisburg, Pa. 17105
Telephone No. (717)-780-3940 OJ: 800-342-2397 (Toll Free ')
An application for assistance may be obtained from a
consumer credit counseling agency, or directly from Pennsylvania
Housing Finance Agency.
It is extremely important that you file your application
promptly. If you do not do so, or if you do not follow the
other time periods set forth in this letter, foreclosure may
proceed against your home immediately.