|
�;
<br /> ,6.
<br />� .
<br /> A� ; `�F . � �i
<br /> ti^ � � . . . . ¢ _ �, � � , . i
<br /> i ��: ��
<br /> 6� � � l `*" �
<br /> z�ot extend oi• ��ostpone tlie ciue date of the monthly in:;tiillnients referred to in paragraphs 1 and 2 hereoT or
<br /> change the ss�tiount ot sucli installments.
<br /> l0. Bozrower Not Released. Extension oF thc time 3m• ��acn� ent or modification of amortization of the sums
<br /> secuied by this 'Vlortgage granted by I.ei�der to an,y successor in interest, of Borron�er shall not .operute to release,
<br /> in any �nunner, the liabilit,y of t4�e ori�inal ]3orro�ti�er and }3orro�i•er's succe�sors in interest. Lender shall not be
<br /> required to commence proceedings against sucl� successor or i•efuse 'to extetid time for }�ayment or otherwise modify
<br /> r� amortizati�n of tl�e sums secured I�y tl�is \Iortgsge I>y reason of atiy den�and mxde by the original ]3orrower and
<br /> Borrower's suecessors in interest. ,
<br /> 1 L Forbearance by Lender Not a Waiver. Any forbearance by Lender in esercising any right or remedy
<br /> ;p hereunuer, or otherwise afforded Uy applicable la�r, �hall not be a waiver of or preclude the exercise of any rigl�t
<br /> a C� or remedy hereunder. Tlie procuremeni of insurance or tl�e payment of taxes or other :ic-,ns or charges by Lender
<br /> fi Cp shall'not be a waiver oi Lender's rigl�t to accelerate the �naturity of tl�e indebtedness secured by this ibiortgage. � '
<br /> s' � - I2. Remadies Cutnulative. All reinedies provided in 't.liis \1oi•tgs�e are distinet and cumulative to any other
<br /> ; p right or remedy under this \Sort,�age or affordecl h}- 1�}�• ot ecauit,y , :�nd rnay be exereised concurmntly, independ-
<br /> ^ " ently or succe�sively.
<br /> � ? 13, Successors and Assigns Bound; joint an�i Several Liability; Captions. Tlte covenants and agreemente
<br /> i ; r herein contained shall Uind, and i}ie rights hereunc!er el�all inure to, thc respective successors an�l a.ssigns of Lender
<br /> t t � �,nd Borrower, subject to the provisions of pa�•agr:iph ] 7 hereaf. :� ll covenaut� and agi•eernents of Borrower sl�all
<br /> � be joint and several . The captians and headiz;gs o� the � �aragrn� �hs of' this \ lortga�e are for convenience only and
<br /> ; are not to be used to interpret or define tl�e provisicns hereoL
<br /> ! ] 4. Notice. Any notice i.o Eiorro��•er �iro��icled for in ilu . 31qrt�; igc ahall t�c gi �•en t�y inaiting sucii notice t�y
<br /> certified u'�ail addressed to 13ori•o�3�er at tlie Yroperiy �ddi•css stater! lielo�v , except for atiy notice required under
<br /> '� paragraph 18 l�ereof to be given to Borro���er in tLc m�nncr prescribed by- a��>� >lic� ble law. Any notice provided �
<br /> for in thia VTorcgage sl�all bc deeined to h�ti��c b��en �iaen to 13orrower �ehmi giveu in tlie man»er designated l�ierein. �
<br /> 15. Uniform Mortgage; Governing Law; Severability. '1'hi� iorm of mortgage combinea uniform covenants
<br /> ` for national Lsu snd iion-uniform covenants with ] imiteci ��ariations b,y jurisdiction to constitute a uniform secu-
<br /> s rity instruinent covering i•eal property. This \Sortgage shall be govei•ned by the la��� of the jurisdiction in wliich '
<br /> ' the Property is located. In the event tlyat nny provision or clause of this D4m�t.gage or the Note confiicts with
<br /> ; applicable Jaw, such contlict shall not aiffect otl�er provisions of this \Iortga�e or tl�e Note whiel� can be given g
<br /> ' effect without tf�e conflicting provision, and to this end t:he provisions of the _liortgagc and the Note are declared i '
<br /> 'r to be severable. F
<br /> y 16. Sozrower's Copy. Borrower shall be furnislied .� confw•med copy of this \7ort�age ai; the time of execu- �
<br /> � tion or after recordation I�ereof.
<br /> 17. TransSer of the Propezty; Assumption. IF :xll or any part of t.fie Property or an interest therein is sold �
<br /> i or transferred by Borrower witl�out Lender's prior �vritten consent, ercluding (a) the creation of a lien or encum-
<br /> brance subordinate to ttiis Mortgage, ( b ) tlie creation of a purch�se mones• security interest for household appli-
<br /> ances, (c) a transfer by devise, descent or by operation of lstw upon thc death of n joint tenant or (d ) the. Srant of
<br /> � any leasehold interest of t6ree years or less not containing an option to purchsse, Lender may; at Lender's option,
<br /> declare all the sums secured by this Morigage to be i� ninediately due �nd payable. Lender sl�all Ixave �s•aived such
<br /> option to accelerute if, prior to the sale or transfer, Lender �md il�e 7�crson to whom the Property is to be sold or
<br /> transferred reacl� agreeinent in writing ttiat the credit of such per,on i, aatisfactory to Lender and that the interest
<br /> payable on the sums secured by this blortgage shal! be st sucli rate as Lendei• shall request . If Lender has ��aived
<br /> �' the option to accelerate provided in I.his par��graph 17 and if 13orrower's successor in interect has executed a writ-
<br /> ` ten assumption agreement accepted in writing by Lenc9er, Lender shall relcase Sorirower from all obligations tmder
<br /> '� ` this Mortgage and the Note.
<br /> If Lender exercises suc6 option to accelerate, Lender sha]] �nail 13orrower notice of acceleration in accordance
<br /> �eith paragraph 14 hereof. Such notice sl�� ll prucidc � period of not les� Clian 30 days from the date the uotice is
<br /> mailed within w}�ich � Borrower may pay the suni� declared clue. 1f Bm•ro�rer fails to p.i�� sucli sums prior to the �
<br /> expiration of such period, Lender ma��, ���ithout furthcr notice. or demand on Borron-er, invoke :�ny remedies per-
<br /> rnitted by paragraph 18 l�ereof.
<br /> i�'ox-UxiFo�aM CovF;xw�Ts. Boi•i•o�ver aiid Lendei• furtlier ccrvenziit and a�;ree as follo���s :
<br /> 18. Acceleration; Remedies. Except as ��rovidcd in �xu•agr:i � �h 17 horeof, u� >on I3orrower'ti breach of :iny
<br /> � covenant or agreement of Borro«�ei• in tl�i, \lortgrt�a, including tIrc co�•en:tints to �>:iy �vhen due :�ny sums �ecured
<br /> by this 1lortgage,� Lende�� �irior to acceleration �liall �u,iil noiicc to Borro���cr ss ��ro��ided i�i parat�;rupli 14 hereof
<br /> ±' c�enifying : ( 1 ) thc breach ; ( 2 ) tl�e actiau required to cui•a . uch l3rer�cl� ; (3 ) a tl�ta, not ]esti than thirty days �
<br /> ' . from t.he datc the notice is mailed to 13orro�ccr, 6�• �rhic6 sucli Iire.i�� l � must bc cured ; and ( 4 ) that, faihu•c ta cure
<br /> � > such breach on or before tl�e date specified in the notice iuuy result in acceleration of tlie swnc secut•ed bv this
<br /> blortgage and sale of the Proi�erty. If t,lie breach is not cw•ed or, or befoi•c tl�e c9atc �pecifled in the notice, Lender
<br /> � ut� Lencier'e option inay dcclsm all of Yhe sums ;ecured by ihi. A'fortgage to be imiricciiately due and payablc � � � �� �
<br /> without further demand and may foreclosc t6is \lortgage b�� ,judiciul proceeding. Len<ier shall be entitled to collect
<br /> in such E�roceeding all expenses of foreclosure , inclu�lin�;, hut not limited to , cosYs of <iocmneutary evidence,
<br /> abstracts and title reports.
<br /> 19. Bonrowez's Right to Reinstat�. 1ot�vit7istanding T.enaei• '� a�celeration of the sums secure�d by this
<br /> Mertgage, Borrower shalt have the right to hnve an,y proceedin �. begun by Lender to enforce this \lortgage dis-
<br /> continued at any time prior to entry of a judgment enfo7cing thi� �1m-tgage if : ja1 Borroc��er pays I.ender all
<br /> sums which would be then due under this Jlortgnge , thc \'ote ;inii notes securin� Futum Aclvances, if anv, had no
<br /> acceleration occurred ; (t> ) $urrower aire. ull brea<�hes of any otht:r r. oven.ints or agreernents of Borrower con-
<br /> tained in this Mortgage ; (c) Borrox�er pays all reasonable c•�pinse, incurred b�• T encier in enforcin�* the coven<ints
<br /> 3nd agre2n;enta of Burrower contained in tiiis �lort�,�i�,c: and in en �arcin� Lender':; reroedie, �s provided in para-
<br /> graph 18 hereof, including, Uut not limited to, reasonab]e rattorner 's fee� : and id1 13orrower takes such netion as
<br /> Lender may reasonably require to assure thac the ]ien of tdiis \Ior# ga�c , Lender's inccrest in thc Yro���rty Hnd '
<br /> Borrower's obligation to pay the sun�s secured b,y thr• \lortgi�e �hall contim�c unimpaired. I7pon such payment # ,
<br /> � and cure by BorrOaer, this Mortgage and tlie obligations :ecw�ed l�ereby shall remain in fiill furce and effeci as if ` " '�''�
<br /> no acceleration had oecurred. s�^' �s M
<br /> 20. Assi f;; � �
<br /> gxsment ol, Reats; Appointment of Receiver, Lender in Possession. As additional securit,y hem- �'�`
<br /> � under, $orrower t�erebyassigns'to Lender the rents of t1�e Propezt}�, pro�•ided tl�at Borro�ver shall , prior to acceler- '� ?'
<br /> ation under paragraph 18 herecf or abandonmenb of t1�e Pro�>erty, ha��c the right to col]eet and retsin such rents �:,'�c�
<br /> as they become due and payable_
<br /> Upon acceleration under paragrap6 IS l�ereof ar abxndonment of thc Yropertp. Len�ler. in �,erG�n, by �gen+
<br /> or by judicially appointed receiver shall be entitled to enter uF�on , t.ake posse�sion of an�a in;iuss�c t}7r Prnpert..�
<br /> anu t,o collect ihe rents of ihe 1'roperty, including those I�ast due. A11 rents collected 1;�� Lender or t.he receiver
<br /> shall be applied first to payment of the costs of inanss�;ement of tl�e Yro�>erty �nd collection of rents , including , I>ui.
<br /> not limited to,.receiver'c ;ecs, premiums on recniver's bon<3� and reasanable attorne�� 's fee� , and then to the sums
<br /> secured 6y this 3'Iortgage. Lender and the i•eceivr.r .hxll Le liable tu ziccount only ia• tt�ose re��ts xrtuallc recei��ed .
<br /> � _
<br /> i . � �
<br /> _,..
<br /> Y . . . . . . . . . : .:: . .. . . . . . . . . . .
<br /> a `
<br />� ,
<br />
|