|
-��
<br /> _,
<br />�- �, ��
<br />='`=� � �r .
<br />� ( .n; �?',x- '
<br /> � � „�..,,,� �
<br /> � ?
<br /> not extend or postpone tl�e due date of tl�e montlily installments referred to ir� parsgraphs 1 and 2 hereof or
<br /> cliange the amount of sucir installments.
<br /> 10. BorrowerNot Relaased. ' Extension of the time for pa,yment or modificatSon of amortization of the sums
<br /> secured by this Mortgagegranted by Lender to any successor i:i interest of Borrower shr�„11 not .operate to release,
<br /> in any iiaanner, tlie liabilit,y of the origin:�1 Borrower and F3or�•on�cr's successors in interest: Lender shall 'not be
<br /> required to commence l�a•oceedings against sucli suecessor a• refuse to extend time for payrnent or otherwise modify
<br /> ` amortization of the sums secured uy this \for#gage by i�easo�3 of any demand macie by the original Borrower and
<br /> r' �,. Borrower's suecessors in interest. - "
<br /> .�- 11. Forbearance by Lender Not a Weiver: Any forbearance by Lender in exercising any right or remedy
<br /> } � hereunder, or ottierwise afforded by applicaUle la�v, shall not be a waiver oF or preclude tlie exercise of any right ; ': .
<br /> � .p.. or remedy heTeunder. The procurement of insurance or the payment of taxes or other liens or charges, by Lender
<br /> Q , shall not be'a waiver of Lender's right to aceelerate the h�aturity ' of the indebtedness secured Uy this Mortgage. ;:
<br /> f � 12. Remedies Cumulative, All remedies ��rovided in tl�is l�Iortgage are distinct and cumulative to any. other �
<br /> � right or remedy under this 1-Soi�tgage or affordcii by la«� or equity, und may be exercised concurrently, independ- `
<br /> �' E ti ently or succeesively. ,
<br /> � ]� 13. Successors and Plssigns Bound; Joinf �d Several Liability; Captions. The covennnts and agreements '
<br /> herein contained shall' bind , and the rights hereunder shall inure to, the respective successors and assigns of Lender ` ; ;
<br /> and Borrower, subject to the provisions of paragraph 17 I�ei•eof. All covenants and agreements of Borrower shall '
<br /> be joint and ser-eral. The captions and lieadings of t.lie l�aritgrapl�s of this \Iortgage are for convenience only and
<br /> are not to be used to interpret or define tlre provisions 1�ereoC '
<br /> % 14. Notice. Any notice to Borrower pro�-ided for in tl�i� �iortgage slial! be gi��en by ai�ailing such notice by _
<br /> r certifie@ znail uddressed to Borroiver at the Yroperty Address ytated belo�i�, ezcept for any notice required under
<br /> iparagraph 18 hereof to be given to BorroH•er in the manner prescribed by applicable It�w. Any notice provided
<br /> r forin this �fortgage shall be deemed to liavc been gi��en to Borro�ver wlien given in the manner designated herein.
<br /> � 15
<br /> . nifo rt a v
<br /> U rm Mo e; Go emin Law; Severabilit . This form of mor a e
<br /> 4 9 4 Y t combines un'f r v
<br /> �
<br /> � omco en
<br /> antis� �
<br /> g g
<br /> fornational use and non-uniform covenants �vith limit.eci variations by jurisdiction to constitute a uniform secu-
<br /> rity instrument covering real property. This �iortgage shall be governed bp the la�v of the jurisdiction in which ; :
<br /> the Property is ]ocated. In the event that any provision or clause of tl�is R'Iortgage or the Note conflicts with
<br /> 6 applicable law , such conflict shall not affect otlier �>rovisions of this \Iortgage or the Note which can be given
<br /> j effect without the conflicting provision, and to this end tl�e provisions of the 1lortgage and the Note are declared
<br /> � to be severable.
<br /> ; 16. Borrowei s Copy. Borrower shall be Surnished a conformed copy of this Mortgage at the time of execu-
<br /> � tion or after recorda$ion l�ereof. `
<br /> ? 17. Trasister of the Property; Assumption. If alt or any part of the Property or an interest therein is sold
<br /> 5 or transferred by Borrower �vithout Lender's prior written consent, exciuding ( a) the creation of a lien or encum- °' `
<br /> brance subordinate to this �4ortgage, ( b ) the creation of a purchase money security interest for household appli-
<br /> ances, (c) a transfer by devise, descent or by operation of lae• upon the death of �, joint tenant or (d) the, grant of ! '
<br /> ; any ]easehold interest of three years or less not cont:aining au option to purchase, Lender may, at Lender's option, `
<br /> declare all the sums secured by this D4artgage io t�e iiiunedi�stely duc and payable . Lender shall have waived such ; ' .
<br /> �' option to accelerate if, prior to the sale or transfer, Lender and the person to whom tl�e Property is to be sold or � °
<br /> � transferred reach agreement in writing that the credit of sucL person is satisfactory to Lender and that the interest ; ,
<br /> ° payable on the sums secured by this blortgage shall be at such rate as I,ender shall request. If Lender has waived
<br /> � the option to accelerate provided in this paragraph 17 and if Borrower's successor in interest has executed a writ-
<br /> si ten assumption agreement accepted in writing by Lender, Lender sliall release Borrower from sll obligetions under
<br /> ` � this Mortgsge and the Note. ^
<br /> � If Lender exercises such option to accelerate, Lender shnll niail Borrower notice of acceleration in accordance
<br /> � with �aragraph 14 hereof. Such notice shal] provide a periocl of not less than 30 days from the date the notice is
<br /> ; rnailed witliin which Borrower may pay tlie swns declared due. If Borrower fails to pay such sums prior to the
<br /> expiration of such period , Lender inay , witl�out fwrther notice or demand on I3'orro�ver, invoke any remedies per-
<br /> j mitted by puragraph 18 hereof.
<br /> �
<br /> t Nox-IJxiFox.M CovFxnrxs. Boi•rower xnd Lendei• fui•ti�er cove�iant and a�ree ay follows :
<br /> 18. Acceleration; Remedies. Except as pro��idect in paragra��h 17 lureof, upon Borrower's breaeh of any
<br /> covenant or agreement of Borro���er in this Jiort�aige, incfuding tLe covenants to Z �ay �ti•hem due any sums secured
<br /> by this illortgage, Lender prior to acceleration sLall mait notice to Borro�vcr as � u•ovidcd iii paragrapli 14 l�ereof
<br /> specifying: ( 1 ) the �breach ; (2) t6e action required to cme sucl� t�re�cl� ; (3) � date , not ]ess than thirty days �
<br /> Srom fhe date thc noticc is nia,iled to I3orro�ver, b�� ��•hicl� �ucl� brca<�1� wust �e cured ; and (4 ) that failurc to eure
<br /> z such breach on or before the date specified in the noticc �uxy result in acceleration of the sums secured by this
<br /> ' Mortgage and sale of the E'roperty. If the Ureach is not cured on or before thc date specified in tl�e notice, Lender
<br /> '. at Lendei's option �nay declare all of the sums secui•ed by� t.his Mortgage to be iminedistely due and payable
<br /> " without further demand and inay foreclosc tl� is \lortg:�gc by judiciail pi•oceeding. I.ender shxll bc entitled to collcet
<br /> in such �roceeding all expenses of foreclosurc, incluiling, but not limited to; costs of docwnentary evidence,
<br /> atastracts and title reports.
<br /> � 19. Bozroweis Right to Reinstate. Not��ithetanding Lender's :.�ceelerution o6 the sucns secured by this
<br /> Mortgage, Borrower shall have the right to have any proceedings begun by Lender to enforcc this Dlortgage dis-
<br /> continued at any time prior to entry of a judgment enfoTcing this 1lortgage if : ls1 Borrower pays Lender all
<br /> sums which would be thed due under this 1lortgage; ti�e A'ote iind notes securing Future Advances, if any, had no
<br /> acceleration occurred ; ( b ) Borrower cures all brenches of nny o 'ther cocen�nts or ag:•eeinents of Borrower con-
<br /> tained in this Mortgage ; (c) Borrower pays all reasonable expenses inourred bp 7,ender in enforcing ihe covenants
<br /> • and agreements of BorroRer contsined in this llort�;age and in en (orcing I,ender',� re�nedies as provicied in para-
<br /> ' graph 1S 2�areof, inclu3ing, but noi limited to, reusunablc attoi•neti�'e leeo ; and ( d ) 13orrower takes such action as
<br /> ; Lender may reasonably require to assure that the lien of this \Iortgage , Lender's interest in the Property and
<br /> Borrower's obligation to pay the sums secured b,y thi� \Iortgage shall continue unimpaired. Upon such payrnent
<br /> � and cure by Borrower, ttiis Mortgage and the obligations secured I�ei•eby shall remain in full force and effect as if
<br /> no acceleration had occurred_ ;,� .. - y��,
<br /> 20. �4eaiynment of Reats; Appointment of Receiver: Lender in Possession As additional cecurity }�ere- ' ` ;
<br /> under, Borrower hereby assigns to Lender the rents of ti�e Property; provicied that- BorroK•er shall, prior to acceler- {; ' * ;�'` '
<br /> �, - .
<br /> ation under paragraph 18 hereof or abandonment of the Yro��erty, hace thc right to collect and retain such rents ��� �,
<br /> � as they become due and payabie. �;» ��
<br /> Upon acceleraLion under paragrsph 18 hereof or abandonment o£ the YroperGy , Le:acler, in person, by agent `�� ?�
<br /> or by; jadicially appointed reeeiver'shall be entitled to enter upon: take posression of und �nana�e the Property ` � ' '
<br />� � and w collect the rents of the; Property, includin; . thosc ,past due: AIl rents collected by I,ender or the receiver �
<br /> c�hall be app3ied fiast to payment of the costs of manageinent of the Property and collection of rente, including, but `' " " � '' �
<br /> not limited tu, receiver's fees, ;�remiums on rcceiver's bonds and reasonab3e attorneys fees, und then to the sums
<br /> secured by this b4ortgage. Lender and the receiver shap bc liable fo account onh- for those rents actually received .
<br /> �.
<br />, � � �
<br />�
<br />
|