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<br /> not extend m� postpone the due date oi ttic �vont{il�� iu,tal) ments refer:ed to in paragraphs 1 and 2 nereof or
<br /> cliange the eLmount of sucli instalttnents.
<br /> l0. Borrower Not Aeleased. Lxtension of tl�e tim<e for ��aprnent m• modification of umortization of the swns
<br /> secured by this \�Iortgage granted U,y T.ender ko an,v ,uccessm• iti intet'est, of Borrorver shall not operate to release,
<br /> in any manner, the liability oi tlie original I3orrower and 13on•o�ver's successors in interest. Lender shall not be
<br /> required to coinmence 7>roceedings ugainst sucl� ,uccessoi• or refuse to extend time for payment or otherwise modify
<br /> amortization of the sums secured by tl�is \ fortgage b�• rearon oi any demand n�ade by the original Borrower and
<br /> r% $orrower's successors in interest.
<br /> 11: Forbearance by Lender Not a Waivez. Any forbearance by Lender in exercising any right or remedy
<br /> � hereunder, or othenvise a1�'orded by applicaUle latv, shall not. be a e�ai�rer of or preclude tl�e exercise of uny right
<br /> �,►i +or remedy hereunder. The ��rocurement of insurance or ilie payrnent of taxes or otlier liens or charges by Lender
<br /> Rt shall not be a waiver of` Lender's right fo acceler:�te the maturity of the indebtedness secured by this i�'Iortgage.
<br /> � : 12. Remedies Cumulafive. �IL retuedies provided in tliis \tortgage are distinct and cumulative to any other
<br /> �--. right or reniedy utider this �Iortgage or nfforded hy lu«• oi• equity , ai�d rnay bc exercised concut•rently, independ-
<br /> �� ' ently or sueeessively.' '
<br /> �� 13, Successors �d Assigns Bound; Joint �d Several Liability; Captions. Tl�e covenznts and agreements
<br /> ; � herein contained shall bind , and the rights l�ereunder �hull inure to, tl�e respecrive successors and assigns of Lender
<br /> � ^ and Borrower, subject t.o the provisions of paragrnpl� 1 ; I�crE:ot. ?.II covenant � and agreements of Borrower shall
<br /> J� be joint and severaL The captions and l�cading� of tl�e paragraphc of this \ tortgage are for convenience only and
<br /> are not to be usedto interpret or define tl�e provisions l�ereoi.
<br /> a 14. NDtice. Any notice to Boi•i•o�cei• prorided for in this _llortgage �l�all br ;;i�-en by tnailing suelz notiee by
<br /> certified mail addressed to Borro�ve�r at thc Property Addro.ss sCsfed belo�v , except for any notice required under
<br /> paragraph 18 hereof to be given to Borron�er in the manner preecribed 1>y applicable law. Any notice provided
<br /> � for in this ��Tortgage shall be deemed to l�avc bi;en gi ��en to Borrower �c•l�en �icen in cl �c mat�ner designated herein . �
<br /> 15. Uniform Mortgage; Goveming Law; Severability. 'fhis Yonn of mortgage combines uniforin covenants
<br /> for national use and non-uniform covenants witf� li2nited vai•iations by jurisdiction to constitute a uniform secu-
<br /> ` rity instrument covering real property. This \Ioi•tgage shsll be governed by tl�e la��- of the jurisdiction in which
<br /> t�z Z'rot.er y is lo�atz�. I: tk;e e�.ent tf�at any j>ravision or clausc of tl.is Z4ortgagc c: tl:e ZTo+e c��fi+�+� w;+.h
<br /> applicable law, sucki conf�ict shall not uffect. other pro��isions oi this llortgage or the IVote �vhich can be given
<br /> effect without the conflicting provision, and to f,l�is end the � >rovisions of t,he 1lortgage ssnd the Note are declared
<br /> d to be severable.
<br /> "` 16. Bonower's Copy. Borrower shall be furnished a conformed cop,y of t6is �Sortgage at the time of execu-
<br /> tion or after recordation l�ereof.
<br /> � 17. Transfer of the Property; Assumption. IS all or any part of the Property or an interest tlierein is sold
<br /> ; or transferred by I3orro�i�er without Lender's prior written consent , excluding ( n) the creation of a lien or encum-
<br /> brance suUordinate to tl�is �Surtgage, ( b ) the creation of a purcha�c money� security interest for household appli-
<br /> ances, (c) a transfer by devise, descent or by operation of la��� upon tlie deatl� of � joint tenant or (d ) the, grant of
<br /> � any ]easehold interest of three year, oi• less not containiiig an opiion to purchase, Lendei• may, at Lender's option,
<br /> declarc all the surtis secured by this 1lortgage to be immedi;ately due .�nd puy:�.ble. Lender sliall liave �vaived such
<br /> option to acoelerate if, prior to tl�e sale or transfer, Lender xnd tl�e pt:is�u to wliom t.he Property is to be sold or
<br /> j ' transferred reach agreement in �veiting that the credit of sucl� person is sutisfactory to Lender ;�nd tl�at the interest
<br /> � payable on the sums secured by this 1lortgage shall be a�t �uch rate as Lender shall request. If Lender has wsived
<br /> i' t.he option to accelerate provided in tt�is paragraph 1 : and if 13orrower's successor in interest has executed a writ-
<br /> ` ten assumption agreetnent sccepted in writing by Lendei•, ] �ender shall release Borrower froin alt ebligations under
<br /> this Mortgage and the I�Tote.
<br /> � If Lender exercises sucl� option to accelerate , Lender sha]] �nail Borrower notice of acceleration in aceordance
<br /> !,
<br /> with }�aragraph 14 hereof. Such notice s1�311 �>rovide a period ol uot less tlian 30 days from the date the notice is
<br /> ' y mailed witl�in �vhich Boixo�ver may 1>ay the swns deelarc:d due. If Borr�wer fails to pay such sums prior to the
<br /> � expiration of such period , Lender may , without furtl�cr noiice or demaud o❑ B'orrower, invoke any remedies per-
<br /> � mitted by paragraph 18 hereof.
<br /> �,
<br /> ,
<br /> \Tox-L":vcFor�az Co��Fx�:.�rc. Borro�t�er and Lendei• Y'urtLer coveuant and anrec as tollo�vs :
<br /> a 18. Acceleration; Remedies. Except a� pro�• idecl in � �:xrr�firu� � h 17 hcreof, upon Fiorrotiver'� breach of any
<br /> covenant or agreemenbof Borro�ser in tlxis �loi•t�;:igc, including tLc c•ovenant. to �iaiy �clicn due :any sums secured
<br /> by this �Iortgage, Lender ��rior to accelerntion sliall iuuil notice to Borro��•er as � iro��ided iti paragraplz 14 l�ereof
<br /> specifying : ( 1) tl�e breacl� ; (2 ) the action require�i fo cw•e sucli breac6 ; 13 ! a date, not. less tlian thirty day,
<br /> from tl�e date the notice is mniled to I3orron�cr, l ,p n-hich .ucl � breacli mUst be ciu•ed ; und 141 that fnilure fo curc
<br /> �� �uch tn•each o❑ or� before tlie date specified in the notice muy result in acceleralion of Llic suinc: secured by this � �
<br /> � Mortgage 3nd sale of the I'roperty. If tl�e breacL is not curei� on or before t6e ciute speciFiecl in tl�e notice, Lander
<br /> at Len�ier's option in�y declure all oi tl'�c �tuu� secured b}• tl�iis \�1ort�:sge, to be immediately due and pa,yable � � �
<br /> ' without further demand and may foreclose t{iis ltort�age by .judicial proceeding. Lender shall be eniitle.cl to collect
<br /> in such proceeding all expenses of foreclosurc , inclu�ting, hut not limited to, costs of docun�entary evidence,
<br /> abstzacts and title reports.
<br /> 19. Borrower's Right to Reinstate. Not��•itl�stauding I.ender;s ucceleration of the ,ums secured by this
<br /> Mortgage, Borrower shal! have the rigltt to have an,y proceedin�;s begun b�� I_ender io enforce this \lortgnge dis-
<br /> continued at any time prior to entry of a judgment. enfoFcing tl�is �Iortgnge i( : � a ) Borro�cer pays Lender all
<br /> sums which would be t.hen due under this \IortgaRc, thc Note :�nd notes sectiring Future Advancea , if any, had no
<br /> acceleration occurred ; ( b ) Borrower cures all bre.iclte. of :Lm� otlier co�•en:�nts or a�;reements oi Borrower con-
<br /> � � � � tained in this Mortgage ; {c) Borrower pays all reas�nable e���enses incurred b�- T.ender i�7 cnforcing tl�e co��enants � � � � � �
<br /> � ar.d agreeuients of Bocro�cer contaiii�d in thi, At�itR ,�;c :�uu ii ei�fu� unK Le�ti�iur :, reu�eciie, un provideu in para-
<br /> graph 18 hereof, including, but not liinited to, reasonal�le ssitmne}•'� tcc. ; .ind id ) Borrower takes such action as
<br /> Lender may reasonably require to assure that the lien of thi� \tortgage, Lender's interest in the Yropert:y and c
<br /> Borroa•er's obligation to pay the sums secured by thi: \1ort�age �l�all ca�tinue unim�aaimd. U�ion nuch pa}�menti _ � � ,
<br /> � and cure by Borrower, this 1Zortgage and the obligations �ecured liereU�- sliall iecnai�i in full force and effect as if � �.
<br /> k �
<br /> no acceleration had oeeurrecl. ' � �p�.�^�
<br /> 20. Assignment ot Rents; Appoiatmeat of Receiver; Lender in Possession. As additional security here- ` '">
<br /> � under; Borrower hereby assigns to I.ender the retit, of the I'rope�-ty, provided that Borroa•er shall , prior to acceler- ` t �<
<br /> ation under ara ra h 18 hereof or abaixdoninent of tl�c Pro �ert havc the ri �ht to collect and reiain such rents ' �"
<br /> ° . . � P B P { y, b � , � +� �
<br /> as they become due and payable.
<br /> ,Upon acceleration under paragraph 18 herrof or abandoninen# of the Yruperf,y, Leucler, in ��erson, by x�ent
<br /> r � or by judicially appointed receiver shall he entitled t.o enter u{�on , tZke ��oe�Pssion oi atnd ivanxge the Yroperty
<br /> ,,
<br /> ,
<br /> nnd :tu, colleci t:he rents of the :Properrv , inciuding cltose j>ast due. All rents eoliertcxi bv Lender or the receiver
<br /> shall be applied first to papment of the costs of man:igetneni of the Piroperty snd collection of rents , inrluding, but
<br /> not limited to, zeceiver's fees, premiucis on meriver s i>oncl� snd reusanab]e attorney's fees. aa�d then to U�e sums
<br /> � : , secured bp this '.1lortbagc: Lenderar.d thc recei�er sl»ll be :iablc ta arcount a�: } for Cl,u�.� reut� xctuully r�c�i � ��l .
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