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201400400
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Last modified
8/19/2014 2:25:24 PM
Creation date
1/23/2014 3:16:30 PM
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DEEDS
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201400400
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201400400 <br />DEFAULT TO BRING ONE OR MORE FURTHER ACTIONS AS ABOVE <br />PROVIDED TO RECOVER POSSESSION OF THE MORTGAGED PROPERTY. <br />LENDER MAY CONFESS JUDGMENT IN AN ACTION IN EJECTMENT BEFORE <br />OR AFTER THE INSTITUTION OF PROCEEDINGS TO FORECLOSE THIS <br />SECURITY INSTRUMENT OR TO ENFORCE THE NOTE, OR AFTER ENTRY OF <br />JUDGMENT THEREIN OR ON THE NOTE, AND THE OTHER LOAN <br />DOCUMENTS OR AFTER A SHERIFF'S SALE OF JUDICIAL SALE OR OTHER <br />FORECLOSURE SALE OF THE MORTGAGED PROPERTY IN WHICH LENDER IS <br />THE SUCCESSFUL BIDDER, IT BEING THE UNDERSTANDING OF THE <br />PARTIES THAT THE AUTHORIZATION TO PURSUE SUCH PROCEEDINGS FOR <br />CONFESSION OF JUDGMENT THEREIN IS AN ESSENTIAL PART OF THE <br />REMEDIES FOR ENFORCEMENT OF THIS SECURITY INSTRUMENT AND THE <br />NOTE, AND THE OTHER LOAN DOCUMENTS AND SHALL SURVIVE ANY <br />EXECUTION SALE TO LENDER. <br />(h) BORROWER HEREBY AUTHORIZES AND EMPOWERS ANY <br />ATTORNEY OR ATTORNEYS OR THE PROTHONOTARY OR CLERK OF ANY <br />COURT OF RECORD IN THE COMMONWEALTH OF PENNSYLVANIA, UPON <br />THE OCCURRENCE OF AN EVENT OF DEFAULT, TO APPEAR FOR <br />BORROWER IN ANY SUCH COURT, WITH OR WITHOUT DECLARATION <br />FILED, AS OF ANY TERM OR TIME THERE OR ELSEWHERE TO BE HELD AND <br />THEREIN TO CONFESS OR ENTER JUDGMENT AGAINST BORROWER IN <br />FAVOR OF LENDER FOR ALL SUMS DUE OR TO BECOME DUE BY <br />BORROWER TO LENDER UNDER THIS SECURITY INSTRUMENT, THE NOTE <br />AND THE OTHER LOAN DOCUMENTS, WITH COSTS OF SUIT AND RELEASE <br />OF ERRORS AND WITH THE GREATER OF FIVE PERCENT (5 %) OF SUCH <br />SUMS OR $5,000 ADDED AS A REASONABLE ATTORNEY'S FEE AND FOR <br />DOING SO THIS SECURITY INSTRUMENT OR A COPY VERIFIED BY <br />AFFIDAVIT SHALL BE SUFFICIENT WARRANT. SUCH AUTHORITY AND <br />POWER SHALL NOT BE EXHAUSTED BY ANY EXERCISE THEREOF, AND <br />JUDGMENT MAY BE CONFESSED AS AFORESAID FROM TIME TO TIME AS <br />OFTEN AS THERE IS OCCASION THEREFOR. <br />2. Subject to paragraph 51 of this Security Instrument, Lender may obtain and <br />enforce a judgment against Borrower for money due under the Note, this Security Instrument or <br />any of the other Loan Documents, provided that such judgment shall be enforced only against the <br />Mortgaged Property. <br />3. Notwithstanding the provisions of paragraph 52 of this Security Instrument, the <br />provisions of this Security Instrument shall be governed by the laws of the Commonwealth of <br />Pennsylvania. <br />4. This Security Instrument secures future advances. <br />5. Notwithstanding anything to the contrary contained in this Security Instrument, <br />the maximum amount of indebtedness outstanding at any time which may be secured by this <br />- 131 - <br />
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