|
A*m;.. � ' '�.k:
<br /> f �'�"
<br /> _ . . ,.::,:�.
<br /> �y �
<br /> noc extend or ��ast�one che due dmtr. ot thc montkalv in:t, srllments reterrec} ko in paragraphs I u.nd 'l hereof or
<br /> cha.nga the iztnount of euotz insta�llmente.
<br /> 10. BonowerNot Rel�amed. Lxtension of the timr. for ��svrnent m� inodificstion of attiortiza4ion of the suma
<br /> secvred by this -�Sortgage granted by �_:ender to nn�- 4iircessor in interesr. of Burrow•er shall not o�erate to release,
<br /> in any manner, ihe liAbiii�y� at the nriginat Borrow-et- nncl 13orrowcr's succevsqr:, in icxteresi. I.etrder shall nat be
<br /> ; ` reqnired Lo coraaff�ence }�roe�edings against sueli aucc�asor or refu�e to exGenci time for payrnent �r otl�erwise mcsdify
<br /> amorGiaation of the sums secured by t3iis \Ic�rtqnge by reason cxf ��ny dems=ar[ irtade by the �rigin�.I Borrower and
<br /> `; r` � Eorsower's suecessors in interest.;
<br /> . � 11. Forbectrance by I.enders Not c 4Vaiver. ;, r�izy forbearance by I.ender in exercising any ri�ht or re�edy
<br /> �� , " G � hereuntler, or atherwise �fforded 'by applicnble la�v , sliaiT not he: a w$iver cif or preclude the eaercise of any sight
<br /> ; c�r r+emedy here�n<ler. The procuramenE of insurance or the �iapmenG of tsxes or other liene or cl�azges 6y Lez�der ' ; ,
<br /> ' ' a � sha�! not be a �wvaiver o€ I.ender's right to t�ecelerate tl�e �naturity 'of the indebtedness secured by tliis ibiartgage.
<br /> %r ;"' � 12. $ameeliesCumulativa. :- All reniedies proc�ded in this �4ort�uge �re clistii�ct and cumulati�e to any other
<br /> �' " rightor remedy^ under this JTortgage os� :ifFordect h,y- lr��v o�• rquitr; ancl inay kie exercised concurrec�tly, independ-
<br /> ' 1` entLy orsuccessavely. ,
<br /> , . 13. Suecessors aad Aasigns Bouzsd;- Joint trnd Soveral Liability, Captions. The coveiaants snd agreements
<br /> ' ' ' ,� herein;`containecl s]�ail bind . nn�i the rights hereun�ie� shall inure to;the respectivc sucaessors �nd assigns of Le�der
<br /> ' x und Borrcawer, subject no t&ie prouisions of purngrcz�ti 17 hereof_ All cavena.nCs and agreement,5 of �otrawer shall � �; ,;
<br /> � , he jvint and se;�ernl. The cspt.ions and hexdin�s of cl�e pnrugratahs of tliis :\ tortgage are for, convenience only und
<br /> � sre aot to be usecl to interpret or define tl�e provisions hereoi.
<br /> F� �. 14. Notiee. 9ny notiee to' Borrower ��rovided �or tn thi, �3ortg�gc st�ait he given by maiting siieli noticel by
<br /> � ,, � r.ertifiecl inail �:ddre,�ed to Borra�ver ut the Fropert� Addi•esa sceLted bela�r- : except for un}= notice required : under
<br /> ' s paragraph 18 ltereof to be gi�•en to Boi•ro�srer in th� mnnner hresorihed b,y- applicable Iativ. Any notice ��roc3ded
<br /> � '� for in this llorGga.ge �hall be deeixied to hacc becii �r ven to Borron�er tivlien gi�-en in the ninnner designate�i herein,
<br /> � � � I5. LDniforai Mortgage; Governing Law; Severa2�ility. 'I'Iiis form of suortgage comk�ines uriiform covensnts
<br /> far �ational usr> r�nrt: non-uniform cov�nants witli limited ��sriations by jurisdicpion to aonstitute x unifoam secu-
<br /> ' i rity instrument� covering re�tl }�roperty_ Tiris \Tortgsge shaYl be governed by zhe law ai the jurisdiction in �v�ich
<br /> '' the Property ±s locete�. , Ir_ tl�e event ihat, :ny pro��i�ion or c!a.use of tliis �Iortgage or the Note couRicts with
<br /> � ` appiieable luw; such confliet shalt not scffect other �rovisions; af this \Iortgage or the Note which can be given .
<br /> " effeet without tE�e conHictiag pro��ision, and to ilris �nd the provisions of the �lortgage and the Note are declsred
<br /> a . � to be severable. '
<br /> ; ' �' 16. BoaowBr's Copy. Borrower shall be furnished a conio3•med copy of this �Iortgage at the. time of execu- ,- ;
<br /> ,: $ tian or,after recordstion'hereof.
<br /> ; 17: Transf�: o{ the Property; Assumptioa. If �Lll or any part of the Property or an interest therein is soId
<br /> - or transferreci bgBorrower �vithout Lender's prior �v�ritter_ consent; excluding (a) the creation of a 2ien or`enc�m-
<br /> brance subordinute to tiiis �fortgage, � �) the crefltiom ot a parci�asc tnone}* security inierest for hoasehold agpli-
<br /> ' � aneea, (c) m trn�sfer by de�-ise; descent or by* operAti�n ot lan� ul�on the <Ieut3i ot a joinG tenunt or (�) tl�e grsu�' of
<br /> � an y,Ieasenold interest of three years or less not containin� an o pzion to ��urchase, Lender rnuy, at Lender's o ption,
<br /> declare ell thesnma secured by tfiis �Iartgage tobe �mmediateh- cluc ancl pavaU[e. Lecicier shal! have- waived such
<br /> r` ,�; option:to accele=ate ii, :7�rior to ttie aa�le or trnnsfer, i.endei• a�id il�e ��erson to tivliom the Yroperty is to I�e sold or
<br /> transterred resei� �greemenn in �vriting tl�st fhe credi� of sucli person is �atisfactoiy to Lender anci ihut ttie inte�est
<br /> t -' �i pay3ble on the sums secured by this :1+Iort�age shall ��e at sudx rate as Lender s6ai1 request: If Lender 6as �vr�ived '
<br /> � ' � the option to xc�celerate provided in this paragrapl� 2 7 und iF 13orrower's successor in interest has executed n xvait-
<br /> 8' ten assumption sgreement accepted;in �criting f�y Lenclei; Lender shalL release Borrower frour all obligsstions un:der
<br /> , �� this tiIortguge and the Nof,e_
<br /> 3 Tf Leuder: exercises` suci� ohtion to accelera 'te, Lender shnll n�ail Borrower notice oi acceleration iu aecordance � :
<br /> � :i �vitlx i�aragraph 14 hereof. t�`uclrnotic� sliet! }irovide a ��eriozi oi not less tha.n 3Q days iram the dr�E.e Ehe noti�e is
<br /> v ' �naiEed . u�ithin which Borrosver cnay pay the sums dc.c]xred due. Ii 13orrower iails tn �>ay sucl� surns prior to the
<br /> ;,',, f expiration of such, period, Lender zna}•, ���xthout furt�ierhatice or demand on I3'orrower, invoke any remedies pea
<br /> , � mitted by paragsaph lS hereof.
<br /> Nox-UuiFox.nc CovE-:vaxTs. Box•ro�cei• arid I.enciei•- ftu•tl�er coyeiiant and agree as fvlln�vs .
<br /> '�' 18. Accelezation;rRemedies. Except as �u•oci-ded in intra�i:ipli 19 her�of, u��on Borrowcr's brei�cli of any
<br /> `,,; � covenant or 'agreernent of Borro�ver in tliis �tort�a�c� , inclueiin� tiic covenants to pay �a-I�en ciue nn�- sums' secured
<br /> .,: � by t�iis 1lortgage, Lender 7xrior to acceleratiou sl�tnl! . uini! iiotice ta I3oTro�t•er as provicicri in ��arugra�yli 74 liereof
<br /> � � �� fronathedate�-41�e ;�otice�� ists�te�ledtol3orroti��cr� b�� «- hic6 � �ii�.���ueh brescl: ; ' �131 ii � tlate, ��ot �tessthan� '.tl» rb,y� � cl�ys
<br /> p � y� g_ ( 1 ) - tlie brcuch - ( 2) the � ction mc wre<! to cur�.
<br /> � ' hx-ezch u�usr 3Jc cured ; and �41 that. failw•e to curc
<br /> ti such breach on or before tl�c date specsfied in the iicltice �nxy rQsulC in accelcrut9on of tl�c swns secured Uy this
<br /> � . Yiortgage and sale uf the Propertyc If t�zc bre�di is rot ceer��cf on oi- befoi•e it�e cluie specified in t,lie iaocice , Lender
<br /> , t� at L+ender's option msy declarc f111 qf tlte auiris sec �u•ed 1?y tiii� 1]�rtgr�ge to be imirredisstel�� due iind payzable
<br /> without turther demund a�ci muy foreclose tl»s \lortgnge by iu�iicial �zrqceect ing. Lender shall be etititled to colaect
<br /> ;` � in suali proceeding ali ex�enses of foreclasurc, inctluding, hut iiot limited to, r,osts Uf rtocumentary evidence,
<br /> '% � abstracts and title reports.
<br /> � • � 1S. Sorrnw�er's Right #0 8einstate. , huCwit3isEunding Lei3der's ucceicrr�tion of the sum5 secured by Lhis
<br /> Mor�gage, Bprrower shal! have the right to have ank proceedmgs begun by I.ender to enforce this �fortgage ciis-
<br /> ' contis�ued at an3• tima prior to entry oi a judgnient enfoF��j�� thi� �lortga�e if; lixi Borrower pays I;ender all
<br /> 4 � sume which wou3d be then due under this 11ort�mige, �he \ote ;�iid notes securing Future �ldvances , if any had no
<br />� " ueeei�ri3.ti�n occ�rred ; rbi nrirruwer curee t� il nre�caie� ot ana• oiner cov�nsncc or agrc�e�rxicnt:a uf i�orrc . c^e- '
<br /> � a ' �
<br /> � � � � � taine�d in thish4ortgage ; , (a ) Burrower trays :�ll reasunrsblu cx� �eiises incuri•ed ��� 1 ender in enforcinK ihe iov�uuaits �
<br /> � d �
<br />� ., e_^_� ro±�*a+a2tt �f 9c+rrower r.nnisxned in this ilort�f-�t�;e ana �ii eniorc3n�; Lendcr � remedxes aas p�ncided zn pazn-
<br /> :� �.. g2�3p�! � .�3�If0�� ' 1RC�llC�tilg� �fLt� llOt �1II21t:Cd fU, �7'CLLSOtY,SUII' : i�Lio£nCY �� � frc,.� ; ;iiii� � ii i. . i:C;wR't`P LBkc:� :,uc+� s�•LiQn.. &F � .
<br /> , , ' � Lend+er mayreasoaably ' reqairetto , assus� thdt the 1�en of this ?.fortg�ge , Lender's iaterest in tlie Yropertv and �
<br /> B�rr�wer's oblig�taor. ia p:.� the sums secnrzd hy tt-=�r 3ioi�tga�;r ziiaii conii�u� unimgaired: upon such payaxient
<br /> x � , and eure by Borrower, L�is �°a�Iortgag� aucl ilie obligatzons secureci lierch�� slra3l :•omain in full iorce and etTect as �i -, i . � �-.
<br /> ' '� no acceleration had occurred_ � ,,
<br /> ,. ; . ,
<br /> �'- � 26. !`�sri'zs�astt �. ;W�: .��osa4nent of;Receeiver: LeacGer in Posse�siou. ; As sdditiionnl security ttere- E�-. ,F . ' +
<br /> ni" M , under, Borrower;�ereby assigos to,Lender the rente of the Pi•o��erz a•, pi•avideii klzut "Borro�+�er shall, prior to aceel.er- �� "
<br /> �* � , ation under gsrs:Ygraph 1$ h�reof ar abar3donment of � he 1'ropert�:, 3�uve tk�e right io co2iect and retain sucl� rente y?'�' k
<br /> as �hey fieeome t3ve and �apsb�e. �=f.
<br /> ' IJpon sacel�ration under �a
<br /> # ra�r$ph i$ hereof o±- e�j�[�nr�nntnHnt, of' the Yi�onertl=: I�en�ier. in ��erson, k�v agani ` ::�•^ "
<br /> ; ` pr by^ judic�Ali3 �ppointecl r+eeeivez shai3, b� c�ntitled iu c�2tca� u�on, takc };osressirs�i �f aiid nzuna�;e t6e Property
<br /> i and Go cu11� ti�e rents pt t�e ProperLy, includ�ng z�ose pa�t dtae. All reuts collecte�� fiy 7xnc�el• or iF�e a•eeeiver :r,
<br /> ae
<br /> , � shall 3�e applied frstto pay�eut of the oosts af an�aiaxgtimcnt oi t13e Yro;>erty and eollect �on of rent� , inciudsn�, 13ut
<br /> not lim:ted to, rece5ver's fe�es, premiums on neceivers bond� snd masorsable att:a� ��e �• 's fa,es . nrrd then to thc suni�
<br /> ecaw�cl �y i�k�i�; �us•6gxr,��. I�rii3er atn� �hde reeejveraiu�ll be iiabie �o xcconnt oni}� ie�r ti�o�e rench a��tuYfiy receiv�d .
<br />� �..., . _ - �_ �
<br />�; ;
<br />�:
<br />,:
<br />
|