|
T;',^'
<br /> � �
<br /> � ,� .
<br /> r
<br /> _ i :�� _;�;
<br /> a�
<br /> �^ � �
<br /> not extend or post.pune the due date ot the inonthly inst :a } Iments referreci to in par:�graph� 1 and 2 hereof or
<br /> ehunge the amount of sucli ivstalt�ne»ts.
<br /> 10. Borrowec Not Released. �xtension of the ti�uc £m• p:�v�uent or modifica 'rion of atnortization of the sums
<br /> secured by this 14ortgage granted by I.encier to :�ny �uccessor iii inf.erest of $orro�ver sl�all not operate to release,
<br /> in any manner, the liabilit�� of the original Iiorro�aer and Borro�cer ', successors in interest. Lender shall not be
<br /> required to comnience proceedings :�gainst ,uch succe�sor or refu�e to extenii t,ime for payment or otherwise modify
<br /> ainortization of ttie sums secured by t.l�is �tortgage � �y reason oi ;im• detnand macle by tlie m•iginal Borrower and
<br /> (i Borrower's successors in interest. '
<br /> 11. Forbearance by Lender Not 'a Waiver. �ny forbearance by Lender in exercisins uny right or remedy
<br /> � � hereunder, or othercvise afforded by applicable law; shall not be a �vaiver of or preclude the exercise of any right
<br /> �- Rj or remedy hereu��der. The procui•ement of insursnce or the F�ayment of taxes or other liens or charges by Lender
<br /> �; ' shall not" be a wniver of Leiider's right to accelernte the m�.turif,y of tl�e indebtedness secured by this Mortgage.
<br /> 1 �,j 12. RemediesGumulative. all remedies providecl in tdiis \ Sortgage are distinct ana cumulative to any other
<br /> � ; `,; right 'orxemedy under f.his \Iortgage or aftorcicd l>y ]a�v cn� equity, and ina�- bc exercised concurrently, independ-
<br /> + ,_„ ently'orsuccessively: `
<br /> ': � 13. Successors isnd Assigns Bound; Joint and Sevezal Liability; Captions. Tlte covenants and agreements
<br /> ; 1�. herein contuined shall bind , and tlie rigl�ts l�ereunder sl�all ini�re to, tdic respective successors and assigns of Lender
<br /> ; �`r. and Borrower, subject fo t.he provisions of pizra�raph 1 i hereof. All covenants and agreements of 73orrower shall
<br /> be joint and se�•eral. 'I'he captions and headings ot the paragraph� of this \Iortga�;e are fw• convenience only and
<br /> „ are not to be used to interpret m• define tlie provisious l�ercof.
<br /> 14. Notice. Any notice to Borro�vcr provided for in tlii , 11oi•tgage sliall he �;i��en by utailing such notice by
<br /> ( ezrtified �i�ail sddressed to Borrower at the Property �lddres5 statecl belo«• , escept tor nny notice required under
<br /> t' paragraph 18 hereof to be given to I3orro���er in tlie m�ni�er prescrif�ed 6�• applic:�ble la�v. Any notice pro�•ided
<br /> for in this \Iortgage shall ttie deeined to i�a�•c becn giren to $ ori•ower �clien given in the manner designated l�erein.
<br /> ' 15. Unifozm Mortgage; Governing Law; Severability. '1'hi� forni of mortga3ge comhines uniform coi-e. nants
<br /> for nationa] use and non-uniform covenants «�ith limited ��ariaCions by jurisdiction to constitute a uniform secu-
<br /> ; rity instrument covering real property. This \4ortgagc shall hc governed by tiie la�c of the jurisdiction in which
<br /> t the Property is located. In tl�e event tliai any provision or clause ot t.3�is \Im•tgage or tl�e IQote conflicts with
<br /> ; applicable law, such conflict s1ia11 not 3ffect other ��rovisions of this llurtgage or tl�e Note wltich can be given
<br /> effect without the conf3icting provision, and to this end the �� rovisions of tl�e \1ort�age and the Note are declared
<br /> to be severable.
<br /> . . 16. $orrower's Copy. Borrower shall br. furnished a conformed r,opy of this Dlortgage at the time of execu-
<br /> ' tion or after recordatioi: hereof.
<br /> � 17. Trmtsfer of the Property; Assumption. If all or any part af the Properby or an interest therein is sold
<br /> � or transferred b,y Borrower �vithout Lender'� prioi• written consent, excluding (a ) the creation of a lien or encum-
<br /> ; brance suUordinate to tLis �Sortgage , ( b ) tlie creation of' a i�urc}iasc 7uoney security interest for household appli-
<br /> z ances, (c) a transfer by devise, descent or by operation oi la�r upon thc death of �, joint t.enant or (d ) ttie, grant of
<br /> � any leasehold interest of tliree years or less not containing an option to purchase, Lender may, at Lender's option,
<br /> � '"' declure all the suius secured by this il2ortgage to be imuiediately� riuc :aiid payable. Lender shall have waived such
<br /> option to acceierate if, prior to tl�e sale oi• tr:�nsfer, Lender atid the ��erson to whom the Property is to be sold or
<br /> transferred reach agreement in �vriting td�at, tl�e creiiit of such �ierson is satisfactory to Lender and tlzat the interest
<br /> payablebn the sums secured uy this :bTortgage sli� l] be at sucli rate as Lender sl�all request. If Lender has waived
<br /> the option to accelerate provided in this p�,rxg�apli 17 ynd if' Borrower's successor in interest lias executed s writ-
<br /> ; ten assumption agreement accepted in writing by Lendea•, Lender shall release Borruwer from all obligations under
<br /> this Mortgage and the Note.
<br /> ? If Lender exercises suc}� option to xccelerate, Lender sha11 �nail Borrower notice of �cceleration in accordance
<br /> ;: � with paragraph 14 hereof. Such notice slrall f>rovide a period of no� le�s than 30 days from the date Lhe notice is
<br /> , � mailed witl�in wliich Borro�ver may pa}� the sum, declared due. lf Liorrower fails to pay such sums prior to the
<br /> ; eapiration of such period, Lender may . ��•iihout further notice or rleuiand on T3orrower, invoke any remedies per-
<br /> ;
<br /> mitted by paragraph 18 hereof.
<br /> 1'
<br /> ; \ox-UxiFo�:vi CovExnr•rs. $ori•o�ti•ei• atid Lendei• f'ui•tl�er covenant and ayi•ee ati follo�vs :
<br /> 18. Acceleration; Remedies. Exec� rt :ls pro�•i<le�l in 1 >:u•ugrai �h 17 hercof , u��on Borrower's hreacl� of any
<br /> covenant or agreement of $orro�cer in this liortgage , including tLe co�•e:�ants to � �ay �rhen due an}- sums secured
<br /> by tliis Alortgage, Lender a�rim• to .iceelerstion slinll niiiil noticr to 13a�ro`ver as � � ro�•ided i�i parugrapli ]4 hemof
<br /> epecifying : ( 1 ) tlie � breach ; (21 � t6e action mquired tu ciur nuch brcaoL ; 13 ) n c,latc, not less than thirty dflys �
<br /> � � from the date thc noticc is� mailed to 13orro�cer. by ��� liich such breni•h n�ust t.�c cured ; snd ( 4 ) that failurc to eurc � �
<br /> such breach on or Uefore ilie date specified in the noticc; niay� re�ult in acceleration of the sums secured by this
<br /> ` �Sortgage and sale of the Property. Ii the breach is not cured or or beforc tlie. clste specificd in tlie notice, Lender
<br /> �,
<br /> at Lender's option may declare all ot the swn� seeured h�� thi � \4ortgsge t.o be im �nediately due and payable
<br /> without further demsnd and ma}• foreclosc this �lortgage b,y j udiciul pi•oceeding. I.ender shall bc entitleci to collect
<br /> in such proceeding all expenses of fomclosure , including, but not liiuited to , costs of ciocmuentnry evidence,
<br /> ubstracts and title reports.
<br /> � 19. Boaower's Right to Reinstate. 1'otwithNtanding Lender's ;�cceleration of the sun�s �,ecured by this � � �� ��
<br /> Mortgage, Borrower shall have t,he right to liave an}• proceeding� begmi by I,encter to enforce this \lortgage dis-
<br /> continued at any time prior to entry of a ;� uclgment. enfci7�cing tliis �lortgage it : lal Borrow-cr paya Lender all -
<br /> , sums which would be then due under this �Iortgage, the Note and not.es securin� Ftrture Advancec: , if any, had no
<br /> aceeleration occurred ; ( b ) Borrower cures all breaches of an}• other co�-en.inte or :s�reeinent� of Borrower con-
<br /> tained in this Mortgage ; (cl Borrower pnys all reasonablc� ex� �en�e� incurre�l 1,�• 1,ender in enforring the covenants
<br /> � 3IItj 3�T2'CCIIICA��S 0{ BOPI'OR"('S' COIlt<lOC� 111 tili: �TOI't�;:iE;i AIli� lll ii: 107'ilil�:, J,dILiCI'�� i'CIllCi�il'd '35 1)I'Oi'l��i'il IIl ]7:iS:i- �
<br /> grsph 1$ hereof, ineluding, but not limited to, ressoniiblc atturnc�• '= iec� : ar�d tc9 ) I3m•rorvcr takes such action as
<br /> Lender may reasonably require to a.ssure thst the lien of tliis \ Iortgage , Lende�'s interest in the Yroperty and �
<br /> Boriower's obligation to pay the sums sc:cured b,y thi: 1fo�tz; igi� �hsll continuc uuiiupaired. L'pon �uch payment
<br /> �. and cure by Borrower, this '�4ortgage and the obligatio�is secured hereb�• slial ] remain in full force and effect as if ^ " � � y "'�
<br /> �,� + " '
<br /> no aceeleration had occurred. " -� � ,„,� :,
<br /> 2D. Assi9nmeai of Reats; Appoiatment o! Receiver; Lender in Possession. As additional security here- � � �t
<br /> + under, $orrower hereby assigns to I.ender the rents of the Properct• , pro�•ided that Borro«�er shall, prior to acceler- "
<br /> , 1, ation under paragraph i8 hereof or abandonment of thc Yro��ert,v; ��ace thc right to collect and retain such rents ` '�•�
<br /> , ' .' as they become due snd payable. < .' , ;i
<br /> «r��.�
<br /> Upon acceleration under ��aragrapU 18 laereof or abundc�nment of the Yropeit�• , Lcnder, in person , by agent
<br /> or by judicially appoint.ed receiver shall be entitfed to enter upon , cxke �>os,e�sion oi and marrage the Yropercy t
<br />+�; and #o:collect tf�e rents of the Property; incluuing those pasi due. .� 11 rencs coilecied by Lender or t.Le receiver
<br /> shail be applied'first to payment of the cost� �f u�anagenient. of tl�e Yroperty and collection of rent�, including, bul.
<br /> not limited to, receiver's fees, premiuma on receiver's Uonds and ressonssble :ittorney'� fees . .�nd then to the sums
<br />.,.., secured by this '_12ortgagc. I.cndcr and thc xeecil�er s!��ll t�c liahlc ±o nccou�iF onh• fcr tk:asc :-cnts zctLslh• rccci�•cd .
<br />�" ���, � � �
<br /> y
<br /> __., _ ._.
<br />,�
<br />
|