|
�,�;
<br /> 4 a � . . . , ��ca. .
<br /> . � i?;'�.` ��.
<br /> . . . � . � . . . . . � .. � . . . . � � , . � � .?y _,.� . . . � 4
<br /> � . . . . . . . . . . .,;e.. .
<br /> .: . . . .. .. . . .. . . . . . . _ . . . . . .
<br /> ��
<br /> �.�� . . . . . r... . . .
<br /> not extend or �iostpoue the due da,te oi tLe monthly iu5i;� ll�uents reterred to iu }aaragraphs 1 and '2 hereof or
<br /> change t37e amount �f, sucl� installments. ,
<br /> 10. Borrower Not Released. E:xtensioti of tUe tiine for paynient or rnodificntion of ;i�nortization of the sums 3
<br /> secz�red k�y tliis ylortgage grunted by I :ender to ;�ny ,uccessor in interest of Borrower shall not .o��erute to release,
<br /> in any �x�anner, tlie liability of the originat Boi•ro�vei• nn�i I3or.o�ver', successora iii interest. I.e�ider shall not be
<br /> required to coinnitince proceedings againstsucii successor or refuse to exteud ti�ne for �iayment or o 'therwise modify !;
<br /> umortizxtion ot the suins secured by this \iort�age i» 3•easou of any demund mude by the original Borro�ver and ti
<br /> r Borrower's successors in interest. `r
<br /> 1L Forbearance by Lender Not a Waiver. Any forbe:�rance by Lender in exercSsing any, right " or remedy �%-
<br /> hereunder, or otherwise afforded Uy apj�lieable la�v, sh� ll not be a wai��er of or preclude ' the exercise o£ any right
<br /> � or reniedy hereunder. The procw•ement o€ insurance or the pnyment of taxes or other liens or churges by Lender
<br /> ; � shall not be a tivuiver of I.ender's right to accelerate the muturity pf the indebi.edness secured by this Mortgage.
<br /> 12. Remedies Cumulative: All remedies provideci in tliis _llortgage are distinet and cumulative to any other •
<br /> � right a� remedy under tlyis _llortgage or afforded hy ]s«� or equir.y, and mrsy be exerciseu concurrently, independ- ;
<br /> � ently or sticcessively. !I
<br /> ,r 13. Suecessors �d Assigns Bound; Joint �d Sevezal Liability; Captions. The coven.int.s and agreer.ier.ts
<br /> � herein contained shallbind, and the rights 6ereunder �l�all inure to , tlie respective successors and assigns of Lender ;
<br /> � and Borrower, subject to the pro�•isions of parsgrnph 17 hereof. All covennnts and agreements of Borrower shall � '
<br /> be joint and severai. The r;aptioris ;�nci heading; ot the paragra��hs of Ihis \tortgage sre for convenience only and
<br /> are not to be usedto interpret or define the provisions liereof.
<br /> 14. Notice. Any notice to Borrower provided for in tl> > \lorigage sh.�ll bc gi��en by inailing such nutice by
<br /> certified rnail iiddressed io Borro���er �it the Property ad�.ir�,; et�tited bclon• , except for sny notice required under
<br /> pctragraph 18 hereof to be given to Borro�rcr in tl�c mnnner prescribed I �y apf�licable I<��v_ Anti� no+_ice provided
<br /> for in this �Tortgage shall be deemed to liave been given to Borro�ti�er when given in the manner designated herein �
<br /> < I5. Uniform Moztgage; Goveming Law; Severability. 'l l�is fonn of inortgage combines uniFor�n covenanta
<br /> for national use and non-uniform covenants ti��itli liroiterl �•arintions by jurisdiction to constitut•e a uniform secu-
<br /> rity instrument covering real property. This \ Iortgage shsll bc gocerned by- t,he la«� of the jurisdiction in which
<br /> � ' the Property is located . In the eveni th:�t any provisim� or clause of this �lortgage or the Note conflicts with
<br /> ' appiicaule latv, such confliet shall not :iffect otl�er provisions of this \Iortgabe or the Note whiclt can be given ``
<br /> ; effect without the conf�icting provision, and to this end the provisions of the \Iortgage and the Note are declared
<br /> � to be severable.
<br /> 16. �orrowei s Copy. }3orrower shall be furnished :� conformed copy of this NIortgage at the time of execu-
<br /> tion or after recordation hereof.
<br /> 17. Tzansier of the Property; Assumption. If zll a• any part of the Property or an interest therein is sold �
<br /> or Gransferred by Borrower without Lender's prior written consent, excluding (a ) the creation of a lien or encum-
<br /> � brance subordinate to this Mortgage, ( b) the creation of ra purcl�ase money security interest for household appli- �
<br /> ances, (c) a transfer by devise, descent or by operation of la��� upon tl�c denth of :t joint tenant or (d ) the, grant of
<br /> any leasehold interest oF tliree years or less not cont�ining a� n option to purchase , Lendei• may, i�t Lender's option,
<br /> declsre all the sums seeured by this Vlortgage to bc im�nediatcly due €ind payable. Lender sk�all l�ave waived suctt
<br /> yoption to accelerate if; prior to the sale or transfer; Lender zind tl�c person to whoin tl�e Property is to be sold or
<br /> � transferred reacl� agreemenC in �vriting that. tt�e credit of such person is sat.isfactoiy to Lender and that the interest t "
<br /> apayable on the sums secured by this Mortgage shall be at suc6 rate as I,ender shall request. If Lender has waived
<br /> + the oprion to accelerate provided in this paragraph 17 und if Borron•er's euccessor in interest has executed a writ-
<br /> { ten sssumption agreement accepted in writing by I.ender, Lender shall release Borrower irmn al] obliaations under
<br /> ; this Mortgage and the Note.
<br /> � Tf Lender exercises such option to accelcrate , Lender shall �uail Borrower notice of acceleration in uccordance
<br /> ; �vit,li paragraph 14 hereof. Such notice shall provide a �ieriod of not less ilian 30 days frorn the date the notice is
<br /> ! inailed �vitliin wl�icl� Borrowei• rna,v pay the �uin� declared duc. If F3orro�ti�ei• fsil� to pay suc6 surns prior to the
<br /> ; expiration of such period , Lender may , �vitl�out fw�tlier notice m� dernand on B'orro�ver, im�oke any remedies per-
<br /> € mitted by paragraph 18 liereof.
<br /> ,i
<br /> ,
<br /> \�ON-LTNIFORAf Covr:xn��rs. I3orro�vei • a�id i.ende�• furtl�er covenant aiid ag•ree as follow•s :
<br /> f
<br /> 4 18. Acceleration; Remedies. Exce��t s� providecl in paraigra� ih 17 hrreof , upou I3orrower's breach of any
<br /> covenant or agreen�ent of 73orro«•er in tliis \1ort�;tige, incluciing tl�c co�•enunts to pa,y �ti�hcn due sny ;ums secured
<br /> by this \Iortgage, Lender prior to acceleration shr�ll mail notice io Borro�ver as �n•o��ided in paragrapl � l4 hereof
<br /> 7, � �
<br /> specifying : (1 ) the breacl� ; (2) tl�e aet,ion r�cauired t� ew•c aucl � breael� ; ( 3 ) a c'at.e , not ]ces` tl�:�n thiiiy days
<br /> 6 from the d�te the notice is mailed to I3orro��-cr, b�� �chici � �ucli brcacli niust bc ew•ed ; and (' 41 thnt failure to curc
<br /> such breach on or Uefore tf�e date specified in t6e notice �nay result in acreleration of tLe sum� �ecured by this
<br /> 31ort.gage and c$le of the Property. If the breacli is not <;ure<i o�i or before the c3stc ,pecified in tl�e notice, Lender
<br /> af, I.ender's option iusy declare all oi the .ums secured h�� thi� \Tortguge. to be immediately due ur�c9 payable
<br /> without iuriher demsnd ssnd may ioreclosc tl�i� 11ort,ga�e bp judicial procceding. I.ender shall f,c entitled to collect
<br /> in such proceeding all expenses of foreclosurc , inclu�ling , hut uot limited to , costs of docuinent,ary evidence,
<br /> abstracts and title regorts.
<br /> ' ' 19. Borrower e Right to Reinstate. \otwithstunding T.ender's acccteration of thc sufns secured by this
<br /> � Mortgage, Borrower shall have the right. to ha��e any j�raceeding� hegun by T.endcr to enforce� this \iort�age dis- � � �
<br /> continued at any time prior tp entry of a ,judgment enturcing this �lortg� ge if : ( al Borrower 7�ays I,ender all
<br /> sums which would be then due under this �Iorcgage, tLc \'ote aud notes securin� F'utur� Adrxnces , if �ny, had no
<br /> acceleration occurred ; ( i> ) Borrower cures :ell t�m:�s�hes of any other co�•enants or agreements of Borr�.ver con-
<br /> tained in this :vlortgage ; (c) Borrower pssys all reasouable c:zpenses incurre�i bv Lencier in cnforeing the covenants
<br /> snd agreement� of Borrower c�ntained in tl�is \Iorthare and in et:forcin�; Lcndc:• ', rc�neuics as pro�•i�ied in para-
<br /> graph 18 hereof, including, but not limi4ed io, reasonak7le attarnev 's tce� ; nnd Id ) I3orro���er t.akes such uction � s
<br /> ;' Lender may reasonably require to assure that. the lien of this _lIort �agc , Lender's interest in the Property and 4 ;
<br /> Borrower's obligation to p�y the sums secured h,y thi - \ Iortgaqe shall crontinuc uuimpaired . Upon such payment
<br /> and cure by Borrower, this n4ortgage snd tlie oblig�t �on: �ecured Piereb�• �hn11 rernain in full force and effect as if " � ' „ �,
<br /> no acceleration had occurred. � _ �., � � ;h -„
<br /> � 2Q. Asaignment oi Rents; Appoixmtment o! Receiver; Lender in Passession. As additional securit,y liere- L � �,x ,
<br /> � under, Borrower hereby assigns tio Lender tLe rents of tl�e Prope�•tr, provided that Iiorro�rer shail , prior to acceler- `' � rys�
<br /> stion undeYparagrsph 18 hereof or abandonment of the Property, have the right to collect snd retain such rents ,;�,
<br /> as they; become due and payable. -=v �
<br /> Upon acceleration under 7iaragrapi� 18 hereof or ahandonment of the Yroperky, Lender, ia person , by agent ,
<br /> or by judicia115 nppointed receiti�er shsll be eniiLled to rr�ier upon , tal:e posse��ion oi and inana�e thc Propert��
<br /> � and t�.o collect the renfs of the� Propert}•, including � tho�e ��a..�t� due. �11 rurds oull. oteu by Lender or t.he receiver � � � � � � �
<br /> shall be applied first to payment of the costs of management of the Propert.y anrl collection of rents. includinq, but
<br /> not limited to, receiver's fees, premiums on receiver's bonds and res�ontible xttorney 's fee�, and then to the sums
<br /> � secured b,y this Mort�aRe. Lender and the recriver �hall hr Iiah1� to arroimt onl�� for tho�c rents nctuall`� recci�•cd .
<br />_. „, , �
<br />, �
<br />
|