|
�
<br />� � � � . . . �� .R4 . .
<br /> w � . � ' � � . � � . � .
<br />� . � . . . . . . . . , . . � . . � . . i
<br /> y
<br /> ,ro t . . � . . � . � � � . . �
<br />` . � � � � . . . .. .. . . . . . . . . , �' � . .
<br /> � �. . . .. . .. . . . . . . . . . . . � . . � . . . .. � . � � � � � � .�.
<br /> ��'
<br /> �`' ' �' �
<br /> not extend °or aaostpone tfie due clate o! the manthly instiillrnents referrecl to in paragrnphs 1 and 2 hereof or
<br /> � cliange tl�e'amouni of sucL installments: �
<br /> �j ' '. 10. Bonower Not Released. �xtensian of the tiiue for j�ayiueiit or ruodification of amortization of the sums
<br /> � secured by tliis �4ortigage granted by I;eiicier to uny �uccessoi• in i�iterest of Borrower shall not .operate to release,
<br /> ; �,*+ in �;ny inanner, the `liability of tiie originxl 13orro�ver and Borron�er's successors in interest. Lender shall 'not be .
<br /> G,"� rsquired to commence psoceedings against sucli successor oi• refuse to ehte�id tiine fol• payinent or otherwise modify
<br /> ti^`,,, ` amortization of the sums secured by tliis \Tortg:�ge by rcason of nny deni�iid made by the original Borrower and
<br /> � � Borrawer's successors in interest. �
<br /> � �.,,` 11. Forbearance by I.ender Not a Waiver. Any� forbearance by Lender in exerciaing any right or remedy
<br /> '' ; . heretander; or otherwise afforded by applicable lacr, shall noi be a waiver of or preclude the exercise of any right `
<br /> � ` or remedy hereunder. The procurement of insurance or the paymeni oi iaxes or other liens or charges by Lender "�
<br /> ? shall not be a waiver of Lender's right to accelerate tl�e maturity of the indebtedness secured by this Mortgage. %
<br /> 1 12. Remedies Cumula6ve. All remedies provided in this \4ortgage are distinet and cumulative to any other �
<br /> y ^ig!:t 'g�• reme�ly �mder this \Iortga�;e or <iffordcd hy latiti• or eqiiity , and ma5� be exercised concurrently, independ- °
<br /> ently or successively. `
<br /> ° ' 13. Successors and Assigns Bound; Joint and Several Liability; Captioas. The cocenants and agreements
<br /> �'. herein contained shall bind, and the rigl�ts lieretmder shall inure to, the respective successors and assigns of Lender
<br /> and Borrower, subject to tGe provisions of paragrapli 17 hereof. all covenanis ssnd agrecments of Borrocver shall
<br /> � l�e joint and several. The captions snd headings of the paragraplis of this .11ortg�ge are for convenience only and
<br /> - � are not to be used to interpret or define the provisions liereof. '
<br /> , 14. Notice. Any noticc to Borrower provided for in thi� _llort6age ,iiatt t�e given t�y maiiing such notice by
<br /> r certified mail saddressed to Borrotver at the Property .lddress stated t:�elow, except for any notice required under
<br /> ; parx�graph 18 hereof to be given to Borrow-er in the inanner prescrihed by applicaUle la�v. �m- notice provided
<br /> y for in this �lortgage sliall bc deemed to liavc been given tv Borrower «�lien given in ihe manner designated ]�erein.
<br /> S, 15. Ussiform Mortgage; Goveming Law; Severability. This form c�f roortgage combines unifoim covenants
<br /> "; for nationnl use and non-uniform covenants �vit.l� limited �•ariations by jurisdiction to constitute :� uniform secu-
<br /> ; rity instrument covering real property. This \fortgage shall be governed by the lan• of the jurisdiction in which
<br /> 7 the Property is located. In the event that any provisim� or clause of tf�is l4ortgage or the Note conflicts with a
<br /> E applicable ]aw, such coniiict shall not affect otlier provisions of t,liis \lortgage or the Note which can be given �
<br /> ; effect without tlie conHicting provision, and to this end the provisions of the 3Tortgage and the Note are declared
<br /> to be severable.
<br /> a 16. Bonower's Copy. Borrower shail bc furnisl�ed a conformed cop,y of this niortgage at the time of execu-
<br /> � tion or after recordation I�ereoL
<br /> 5 17. Transfez of the Property; Assumption. If sll or any part of tlie Property or an interest therein is sold -
<br /> = or transferred by Borrower without Lender's prior written consent, excluding ( u) the creation of a lien or encum-
<br /> 5• ' brance subordinate to this \•fortga�ge, (b ) tl�e creation of' u purchase snoney security interest for household appli-
<br /> r
<br /> ances, (c ) a trsnsfer by c�evise, descent or by operation oi law upon the death of a joint tenant or (d) the grant of
<br /> ; any leasehold interest of three years or less not containing an option to purchase, Lender may. at Lender's option, ;',
<br /> � declare all the swns secured by this Morigage to be immediately due and payable. Lender shall 3rave waived such
<br /> � option to accelerate if, prior to the sale or transfer, Lender and the I>erson to whom the Property is to be sold or °
<br /> � transferred reach agreement in writing t6at the credit of sucli person is sutisfactory to Lender and that the interest $ '
<br /> , y payable on the sums eecured by this D4ortgagc shttll be at sucl� rate as Lender shall re�uest. If Lender has waived '' '
<br /> � � the option to accelerate provided in this paragrapli 17 and if I3orrower's successor i❑ interest l�as executed a tvrit-
<br /> � ten assumption agreement accepted in writing by Lender, Lender shall release Borrower from sll obligations under
<br /> y this Mortgage and the Note.
<br /> � If Lender exercises sucl� option to accelei•�te, Lender shall �nuil Borrower notice of acceleration in uccordance '
<br /> with paragraph 14 hereof. Such not.ice shall pro��ide a period of not less than 30 da,ys from the date the notice is �
<br /> ' mailed within which Borrower may pay thc suma declared due. If Sorrower fails to pay such sums prior to the
<br /> ; expiration of such period , Lender inay, �~�ithout fui-tl�er notice or demand on 13'orrowei•, invoke any remedies per-
<br /> ' mitted by paragraph 18 hereof.
<br /> � i
<br /> � �'ax-LTxrFoxM CovFxnrTs. Borro�+•er and Lende�• fui•tl�er covenant and ag•ree as follo�vs :
<br /> � 18. Aeeeleration; Rernedias. F.xcept as � �ro�' ided in parsgru� �h 17 hereo(, npon Borrower's breacl� of any
<br /> � covenant or agreement of Burro�rer in tl�is lim•tgrigc, including tlic covenants to pay when due any swns secured
<br /> ; by this :\'lortgage, Lendcr l�rior to accclei•:itiou �hall niail notice to I3orro��•ei• as provided iii parsgrapii 74 l�ereof ,
<br /> �n � � �peoifying : (1 ) the breach ; ( 2 ) the action required to ciu�c sucl� 6re�cL ; 13 ) a date , not less iLan thirty da,ys
<br /> � . from the date the notice is mailed to 13orro�ti�cr, hy ��-IiicL ,ucl � bre:lcli iuust be cured ; and (4 ) th�st [aihn•c to cure
<br /> a such breach on or before the date specified in tlic noticc �i�xy result in acceleration of the sums secured by this
<br /> � ?vIortgage and sale of the Property. If tl�e brench is not cured on or before tl�e dste specificd in tlxe notice , Lender
<br /> � j at Lender's option may declan all of the suius eecured by t3iis �iortgage to be i�nmediatcly due and payable
<br /> ; without further demand and may forec3ose Uiis \Iort.gage by ,iudicial proceeding. Lender sliafl be entitle<9 to collect
<br /> in such proceeding all ex�enses of foreclo�urc , incluiling, but not li�nited to, costs ot docuruentary evidence,
<br /> + abstracts and title reports.
<br /> i
<br /> + 19. Bonower's Right to Reinstate. 1' otH�ithsttsnding I.ender's ucceleration of the sums secured by this
<br /> Mortgage, Borrower shall have t.he right to ha�-e any proceedings begun by Lender to enforee this blortgage dis-
<br /> � continued at any time �rior to entry of a judgment enSoYcing thi, lfortgage if : (a ) }3orrow•er pays I,ender all
<br /> ; sums which would be then due under this �Iortgage , the \�ote and rrotes securinn Fuhire Ad��ances, if any, had no
<br /> � aceeleration oecurred ; ( b) Borrower curee all hreache. of an�- other covenants or sgreements of Borrower con- -
<br /> � tained in this Mortgage ; (c ) Borrower pa,ys .ill reacunable expei�ses iiicurred b�� Lender in enforcin�; the covenants
<br /> ; and agreements of Borrower contained in this �IortgnKe anci in ent'orcin� Lender's i•ernedies as provicled in para-
<br /> i graph 1$ hereof, including, but not limited to , reasonablc attoraep's iees : sipd td ) Borrower takes such action as
<br /> : Lender may reasonably require to assure that the ]ien of tlii� �Sorfgage , Lender's interest in the Property and 5
<br /> � Borrower's obligation to pay the sums secured b,y t.hie \lortgn�c �hall continue uniuipaireci. Upon such payment
<br /> ; and cure by Borrower, this Mortgage and the obiigstion, secured hereb�- shall remaiu in futl force and effect as if ' . � '1, '
<br /> � no acceleration had occurred. � jp,y � `}F'
<br /> � 20. Aasigameat of Rants; Agpointuient of Receiver, Lender in Possession. As additionai sccurity here- �� `�
<br /> tu
<br /> r e . S � �
<br /> ' . � under, Borrower hereby assigns to Lender tlie rents uf tl�e Property . ��rovic�ecl fl�at Borr�cver shall , prioi• to acceler- �y�. �
<br /> ( x5
<br /> atiqn under paragraPh 18 hereof or abandonment of the Pro��ert,y, hace the riglit to collect ssnd retain such rents ' `�'� "«`
<br /> � as they become due and payable. ���z
<br /> Upon seeeleration under paragrapl� 18 3aereof or al>anrlonmenf of the Yropertv. I,ender. in i�ersbn , bv agent
<br /> ; " � � : ;; . . �
<br /> ' ,`� or by judiciall,y appointed receiver shall he enlitled to enter u7>on . take ��oasessiun of txod manaee t:lie Yroperty
<br /> � ` " and to collect the rents' of the Property; incinding those ��ast: due, All rents collected b�= Lender or the receiver ""' `
<br /> shall be applied first to payment of the costa of management of t6e ProperL�� 2nd collection of rcnts, including, t>ut
<br /> � not ]imited to; receiver's fees, 7�remiums on receiver's I>onda? :snd reasonable attorney's fees . and then t.o the sums
<br /> � secured by this tilortgage. I.ender and the receiver s4ia11 be liabie to accc�unt only ior thosc rents xctuxlh� received .
<br /> �: �
<br /> ! .;e. . _ . .... _
<br />
|