|
� , ,�
<br /> � ��
<br /> �`. .,... _ .w,. �
<br /> �
<br /> not extend or. j>ost.pone ' tUe due date of tl� e montlily instnlhnents reFcrred ta in paragrnpl�s 1 and 2 liereof or
<br /> ehange the amount of such instalhnents.'
<br /> 10. Borrower NofReleased. �xtension of the tiwe for pavuiei�t or mociification of rsmortization of the sums = '
<br /> secured by this Vfortgage granted by Lender to any �uccessor in in 'terest of Borrower shail not operate to Telea.se,
<br /> in any mariner,' the ] iak�ility of the original ]3orro�ver and '13oi•ro�+=ei•'s successors in iuterest. Lender shali not be
<br /> required to commence i�roceedings against sucli successor m' refuse to extend time for payment or otherwise modify
<br /> [ amortizution of the sunis secured- by tliis \Tortgage by reason of any deniancl made by the original Borrower and
<br /> 1; Sorrower's successars in interesf,. ` ' - ` ' '
<br /> s lI: Forbeazance by Lender Not a Waiver. Any forUearance by Lender in exercising any right or remedy �
<br /> � liereunder, or other�vise afforded by applicable la�d , sl� all n;ot be a waiver of or ��reclqde the exercise of any right
<br /> � or remedy I�ereunder. The procuremeiit of insurance or tl �e payinent of taxes or otl�er liens or charges by Lender � ;' ' '
<br /> � shallnot be, n waiver of Lender's ` right to accelerate the maturity `of tlie indebtedness secured by this ` Mortgage.
<br /> �, 12. Remedies CumulaGve. All remedies provided in tl� is _l4ort.�uge are distinct and cumulative to any other ,
<br /> � � right or reinedy under this \Iortgage or afforded ' by l��r �i• equity , 'anci may; l.�e exeroised concurrently,' independ- `"
<br /> � ently oi• successively . �
<br /> � ` 13. 5uccessors and Assigns Bound; Joint cmd Several Liability: Captioas. The eovennnts and agreements C
<br /> � herein contained shall bind , and the rights l�ereuncler shall iinire to , the respective successors and assigns of Lender �
<br /> � .`, _ �nd Borro��er; 'subject to the provisionsof pnragrriph 17 hereof . .� ll covenants und agrecments of Borron•er �hall ' '
<br /> , , i ' be joint and severul . The captions and lieadings of the pat.� gra�ihc of tliis Jlortgage are for 'convenience only and ' '
<br /> are not to be used to interpret or define the provisions hereof . ; `
<br /> 14. Notice. Any nof,ice fo Borro�i�er iirovided for in ti� is \tortgage sl� alt t�e gi�•en by cnaitiag szicll notice by �
<br /> � certified mail addressed to Borro«�er at. thc Proper�y Address stafed bclo�v , except fur any notice required under F '
<br /> C>aragrapli 18 ]iereof to be given to Borro«•er in the inanner ��i•esa•ibed by applicablc 1a�c . :� ny notice provided
<br /> for in this liortgage shall tie deeined to havc been given io Borrower ��� hen bicen in thc manner designated hereitt.
<br /> 15. Ua�ifartn Mortgage; Governing Law; Severability. This form of mortsuge combines uniform covenants
<br /> y for national use and iion-uniform covenants witl� limited ���riations by jurisdiction to constitute n uniform secu-
<br /> rity instruri7ent covering rea! property: This \fortgage shall be �overned by tl�e lan� of the jurisdietion in wl�ich �
<br /> the Pioperty is located . I�i t.he eveni that any provision or clause of tl� is \Zortgage or the Note conflicts witli f
<br /> applicable law; such conflict shall not affect otl�er provisions of this �Iortgage or tl�e Note �vhich can be given
<br /> effect without the confticting provision ; and to this enci the provisions of the �Iortgage and the Note are declared
<br /> : to be severable.
<br /> � 16. Borrower's Copy. Borrower shall be furnisl�ed :� confoimed copy of this A'Iortgage ati the time of execu-
<br /> tion or after recordation l�ere�f . '
<br /> 17. Transfer of the Property; Assumption. If all or any part of tUe Property or an interest therein is sold j ' '
<br /> or transferred by Borrowcr without Lender's prior written consent , excluding ( a) the creation of a lien or encum-
<br /> brance subordinate to this vlortgage, ( b ) the cre:�tion of n parchase inoney security interest for l�onsehold appli- i..
<br /> ances, ( c) a transfer by devise, descent or by operation of la��• upon the deatlraf a joint tenant or (d ) the_ grant oL
<br /> ; any leasehold interest of three yearsor less not contsining an option to purchase , Lender may ; at Lender's option;
<br /> n declare all the sums secured by tliis Mortgage to be iminediately due and payable. Lender shall have waived such
<br /> � option Lo accelerate if , prior to the sale or transfer, Lender uud the person to whom the Property is to be sold or
<br /> a, transferred reacl� agreement in writing tl�at tl�e credit of sucli person is satisfactory to Lender and that the interest
<br /> ' payable on the sums secured by this Mortgage shall be at :ucl� rate ae Lender sl�all request. If Lender has waived
<br /> � the option to accelerate provi3ed itrthis par�graph 17 ancl if Borrower's successor in interest has executed a writ-
<br /> ten assumption agreement accepted in writing by Lender , Lender shall release Borrower froin all ohligations under
<br /> this Mortgsge and the Note.
<br /> e ' If Lender exercises sucli optian to accelertite, Lender shall :nail Borrower notice of acceleration in accordance
<br /> �vith parageaplr 14 hereoG Such notice shall pro��ide 3 �>eriod of not less th � n 30 cix�ys from the clate the notice is
<br /> �nailed within which Borrower m �y pa3� tlie sums declared due. If Borro«�er f�ils to gay such sums �rior to the
<br /> expiration of such period, Lender may; �vithout further notice or demunci on B'orro�ver, invoke any remedies per-
<br /> ; �nitted by paragraph 18 hereof .
<br /> -�S . . , . . . . . . . � . . � .
<br /> Nox -LTriiFoxaz Lov�xnxTs. Bori• owe �• and Lendei� furtl�ei• coveiiant and ag•i•ee as follqw4 :
<br /> 18. Acceleration, Remedies. Exceiit aa jrroci<lerl iii � �aragrupli 17 licreof, ti {ion Borrower 's hreach of ` any
<br /> eovenant or agreenient of 'Borro�ver in iliis �lortgn�c, including t.hc covenanEs ta p:1y when cluc a�ny- sunis secured
<br /> � � � � � � by � tl�is A2ortgage ,� Lender �� rior to etcceleration sl� all niail iiotice to Borro}�•cr as � u•o��idecl in paragrapli 14 � hereof
<br /> specifying :; ( 1 } the breach ; ( 21 the atction rcyuired to cure such bre:xch ; (31 n datc , not Icss tLsn thirt,y days
<br /> from the date tlie notiec iG mailed to I3orro�vci; b�• i.- 1 � icL sucli bir.ich �nust be cured ; and ( 4 ) tliat failure to cure
<br /> such breach on or before the date specified in the not.icc may result in accele. ration of thc sum� secured by ihis
<br /> 14Zortgage and sale of the Properf,y . If 'tl�e breacl� is no[ cured on or Uefore tlie date specified in the notice , Lender
<br /> at Lender 's opt�ion u�ay declare all of the s�rns secured by this 1lortgasc to be im �nedi�tcly � 1ue and payable
<br /> witl�out further demand und may fo�eclose tl �is �lortgage Uy judicial �iroceeding. T.ender sliiill !ie entitle<I to collect
<br /> ; . in such pzoceeding all expenses of fomclosure , inclu<ling , but not liiuited to , costs of docwnentary evidence;
<br /> , abstracts and 'title i•eports.
<br /> 19. Bocrower's Right to Reinstate. 1�otK•ithstanding Lender 's aeceleration o£ the sums secured by this
<br /> Mortgage, Borrower shall have the right to ha��e any proceedings begun by J.ender to enforce this vTortgage dis-
<br /> continued at any ' time prior tq' entry of a judgment enforcing this 1lortgnge if : ( ul Borron� er pays I,ender all
<br /> 3 sums which would be then due under t.his 1Iortgagc , thc Note and notes securing Future advances, if; any, had no i
<br /> ncceleration occurred ; ( b ) Borrower cui•e; all breache� of am• other cocen:�nt� or agreements of Borrower con-
<br /> tained in this Mortgage ; (c ) Borrower pavs ull reasonutUlc expensc� incurred hy Lender in cnforcing tLe covenants
<br /> snd agreements of Borrower contained in thiy 13ortgiige .ind iii enPoi•cing Lender'a re�nedies ac provided in ��ara-
<br /> graph .l$ hereof, including, but• not limited to ; reasonuble :ittorney ': fee� : :�nd ld ) f3orrozver takes such action as
<br /> Lender may masonablyrequire to assure that t.l� e lien of thi, \ fortgage , 7;ender's inierest in the Property ' and �
<br /> Boriower's obiigstion ' to pay, the sums secured hy thi� ti4ortgnge shall eontinuc unim�aired . Upon such pay�nent
<br /> ' � and cure by Bormwer, 'this Mortgage and the obligation: secured diereb�• shat ! remain in iull fm•ce and eftect as if M - ' ��, ,
<br /> no aceeleration had occurred. Y ^ '•
<br /> � 20. Xssigna�ent o!, Rents; Appoiatxnent of Receiver, Lender in Possession. A5 additional securit here- i� �
<br /> � � under, Borrower hereby assigns f,o Lender tl�e rents of the Property . �iro�•ided tliat Borro��•er shall , pri�r to acceler �,�t'
<br /> "—y ation under paragraph 18 hereof 'or abandonment of the I'roperty;, have the rigl�t to collect snd retam sucli rents °' ,�f�
<br /> � as they become due and payable. ��� '�
<br /> � L7pot? Rece3eration under pRragra�(� t $ hercvrf �r ruloan�lonment of the 1'roE3ertv . Lendei•: in person . bv a�ent � � ' �
<br />� - or by �ud�ciaily apZ�oint.e�i receiver xhall be entit.led to e��tier u ��on , tuke aio;se��ion -tif and mt�na�e the Propert,y " "'
<br /> and ta collecC the rents of the Property, ineluding thosc liust due: _All rents coAected hv Lender or t.he receiver �`.
<br /> shall be applied first to payment of the eosts of rnanagement of tlie 1'ropert.y and collection of rents, including , t>ut
<br /> not limited to, receiver's (ees, l�remiums on receiver 's bond� xnd reasonnble attorney 's fees : and then to the sums
<br /> secured by this Mortgage. Lender and the receiver shall be liubie to account only Tor tho�e rents actually mceived .
<br /> � i �
<br />
|