|
--�;; , .t:
<br />'�7'"��'^: � . . rj ^A"� . . � l
<br />�Y , . . . . . . . . . . .. . . . . � . . . l �`�:_ .nl� . � .
<br /> Y"' . . . . . . � .
<br /> �" Rw�,.� . .
<br /> not extend or pont,pone the due date oi tlie monthh� in :;t :illmeiits referrerl co in paragraphs 1 and 2 hereof or
<br /> chsnge til�e amount oi sucli installme��ta
<br /> 10. Borrower Not Released. Extensiou of the tin�e for pavment or modification of .imortization of the sums
<br /> �'+ secured by this Vlortgage granted by I,endei• t.o any :uccessor in interest ot Borrower sliull not operate to release,
<br /> lSJ in any manner, tl�e liabilitv of tlie originul Borro�i•er and I3ori•oticer's successors in interest. Lender shall not be
<br /> � M required to commence proceedings against sucti successor or refuse to extend tiine for pay�nent or otherwise znodify
<br /> lt'7 an�ortization of t,he sums secured by this \Iortgsbe by re�son ot' auy deuzand macie by tl�e ori�inal Borrower and
<br /> r ' p Borrower's successors in interest.
<br /> � 11 . Forbearance by Lender Not a Waiver. Any forbearanee by Lender in exercising any right or remedy.
<br /> ;' hereunder, or otherwise afforded by applieable la�k• , sh211 �iot be a waiver of or preclude the exercise of any right
<br /> 4 t� or remedy hereunder. Tl�e proourement of insurance or the payment of taxes or other liens or charges by Lender
<br /> ? (� shall not be a wuiver o€ Lender's right to accelerute t.he ruaturity of t,he indebtedness secured by this Mortgage.
<br /> t ` 12. Remedies Cumulative. All remedies provided in tliis \Zm•tgage are distinct and cumulative to any other
<br /> right or remedy under this _lforigage or affordc�l by lazw or equity, and m�,y be exercised concurrently , independ-
<br /> ; ently or successively. '
<br /> 13. Successors and Assigns Bound; joint and Several Liability; Captions. The covenanLs and agreements `
<br /> herein contained shall' bind , and the rights hereundcr sliail inure to, thc respective successors and assigns of i,ender
<br /> � and Borrower, subject to ihe provisions of paragrapl� 17 hereof. �Il covenants snr.l agreements of Borrower sha11 !
<br /> be joint and severul. The c��ptions and hexdings of ihe � �aragr� pP�s of this \ lortgage are for r,onvenience onlyand
<br /> � are not to be used to interpret or define the pi•ovisions l�ereof.
<br /> ;' � 14. Notice. � An,y notice to Borrowei• pro��ided foi• in this �1or'tgcage shall bc given by mailing sucl� notice� by �
<br /> cert,ified mail addressed to Borro�rer at the Yropert�� Address stateci below, except. tor uny notice required under
<br /> paragraph 18 hereof to be given to Eiorro���er in the msnncr prescribed by applicable 1a�c•. Any notice provided
<br /> r for in this �fortgttge ehall be deeu�ed to hace been gicen to 13a•roc��er ��•1�en given iu Che maimer designiited herein,
<br /> 'i 15. Uniform Mortgage; Governing Law: Severability. This forin of iuortguge combines uniform coven�ints
<br /> for national use and non-uniform covenants �vitli limite<i variations l.�y jurisdiction to constitute a uniform secu-
<br /> rity instrwnent covering real property. This �Iortgage shnll be boverned by the ]n�v of the jurisdiction in which � '.
<br /> j the Property is located . In the event thzt an,y provision or clause of t6is J7ortgage or the Iti�ote conflicts with
<br /> applicable ]aw, such conflict shall not affect otl�er provisions of this �lortgage oi• the Note w•hich can t�e given
<br /> � effect without the conflicting provision, and to this end the provisions of the \Sortgage and t6e Note are deolared
<br /> � to be severabie.
<br /> 16. Borrowei s Copy. Borrower shall be furnisl� ed a conformed copy of this Mortgage at the time of execu-
<br /> tion or after recordation hereof.
<br /> �; 17. ,Transfez of the Property; Assumption. If sll or any part of the Property or an interest therein is aold
<br /> or transierred by Borrower �vithout Lender's prioi• �vritteii consent , excluding (a) the creation of a lien or encum-
<br /> � ' brance subordinatc to this il-lortgage, ( b ) the creation of a purchase xnoiiey security interest for household appli-
<br /> ances, ( c) a transfer by devise, descent or b}� operation oi ]a��- upon the death of a joint tenant or ( d ) the, grant of
<br /> any leasehold interest of tl�ree yeurs or less not contrsining un option [o purchase, Lender �nay, at Lender's option,
<br /> declare ali the sums secured by this Mortgnge to be inuuediately due and payssble. Lender shall have waived such
<br /> �- option to aceelerate if, prior to tl�e sale or transPer, Lendcr .ind tl�e person to wl�om the }?roperty is to be sold or
<br /> � transferred reacl� agreemenC in writing tl�at tPie credit of such per�on is :.�tisf�ctory to Lender und that the interest
<br /> j� payable on the sums secured by this i�4ortgaqe sh�ll be 3t suei � rate a� Lender sl�all request. If Lender has waived
<br /> y the option to accelerate provided in t.liis paragrapl� 17 and if Borrower's successor in interest has executed a writ- `
<br /> ; ten assumption agreement �sccepted in writing by Lender, Lender si�all release Borrower from all obligations under
<br /> x t.his Mortgage and the Note.
<br /> � If Lender exercises sucli option to accelerate, Lender shall :iisil Boi•rower notice of acceleration in accordance
<br /> � with paragraph 14 hereof. Suel� i�otice sliall pi•o��ide a period of not less tl�an 30 dt�ys from the date tlie � notice is
<br /> ` � mailed within which 13orrowe�r xnay pay the sums cleclared duc. If Borrower fails to pay sucl�i sums prior to � the '
<br /> �; expiration of such period, Lender ruay , �eithout furtlier notice or <teruand on I3�orrower, invokc: any remedies per- "
<br /> ',' mitted by paragraph 18 hereof. �
<br /> ' Nox-L?�riFonaz C6VF. NA�TS. IiOI'1'O�vei• ttnd Lendei• furtl�er covenant and ttg•i•ee as follo��•� :
<br /> i
<br /> 18. Acceleration; Remedies. Lxcept as pro�•ided ir, lu�ragra�� h 17 hereof, upon 13orrower'.s breacl� af any
<br /> covenant or agreement oF Borro�i�cr in tliis �iort�;rigc . including [I � c cavenants to pery �ti�hen duc am� sutns secured
<br /> by tYtis �lortgage, Lencier ��rior to aceeleration shsll �nuil notiee to Borro�cer r�s � n•o��ided iti paragraph 14 hcreof
<br /> ` specifying : ( 1 ) the breach ; (2 ) the action required to cine aucli breacli ; 13 ) a datc , not less tli� n thii�t}- days
<br /> ? from the date the notice i� niailed to Borro��•cr, I,�- �chich �ucl � breach must bc cw�ed ; and ( 41 tliat failw�c to curc
<br /> `•� such brench on or l�etore the date specified in kl�e notice nu�y result in acceleration of the suws secumd by this
<br /> = Dlortgage and sale of the Yroperty. If the brescli is not cured oi: or befoir the date speci(ied in t.he not.ice, Lender
<br /> at Lender's option uiay declare all of the smns secured by thi, \tortgage to be irriinediately due und payabie
<br /> without furLher demand and ma�y foreclose tliis A4ortga�e by ,iudiciul �iroceeding. Lender shxll be entitled to eollect � �
<br /> in such proceeding all expenses of foreclostu•e , includinq, hut not liroited to, costs oC docuinenttiry evidence,
<br /> abstracts and title reports.
<br /> 19. Boaoweis Right to Reinstate. \ot�t•itl�standing I.endei'e cwceleration of the sutiis eecured by this
<br /> Mortgage, Borrower shall have the right. to haee any jiroceedin�;� hegun by Len�icr to enforce this �4ortgnge dis-
<br /> continued at any time ��rior to entry of a judgment enforcing thie �Sortgage if : ( ts '1 Aorro�cer pays I.ender ssll
<br /> sums which would be then due under this 3lortgage, thc I�'ote .tn3 note� securing Fi�ture Ad�•ances , if any, hxd no
<br /> acceleration occurred ; ( b ) Borrower curea all breachee of nn�• ocliei• co�•enants or :igmements of Rorrower con-
<br /> ' tained in this Mortguge ; (c) Borrower pays all reasonable expense: i�icurrcd by LendE+r in enforcing the covenants
<br /> and agreements of Sorrower rontained in this �iort �;,� ee and in cniorring T.rn� ler'� r��rnedie: vi:� �irovided in nara-
<br /> graph 18 hereof, including, but not limited to , reasonable attorney '� iee,� ; and � dl 13orrower takes such action as
<br /> Lender may reasonably require to assure th�.t the lien of tl� is \4artgagc , Lender; ir.t.erest in the Proper4s� and
<br /> Borrower's obligation to pay the sums secured bv thi, \Sort�at;e �hatl continuc unimpaired . L?F�on such pa_yment ' '
<br /> and cure by Bormwer, tkiis A4ortgage and the obli�ations �ecured hereb�� �hnll reu'isin in full tui•ce and effect us if ^ . � . .
<br /> no acceleration had occurred. - ' ` ''
<br /> 20. Assigssmeat of Rents; Appointment of Receiver; Lendar in Possession. A� additional sc:curity here- s � ,�1 �
<br /> under, Borrower hereby assigns to Lender the rents of the Property : pro�•ided that Borro�cer shail , prior to aeceler- ' "`
<br /> , . a�s. ation under psragraph 18 hereof oi• aUandomnent of the Yroperty , haye the ri�lit to collect and retain such rents ' ( `e-
<br /> as they become due and payable. • `�,-
<br /> �� � � � � �� � Upon �acceleration under � paragrapli 18 hereof or ahandonment� of the 1'ropert�� , Lender, in person, by sgent � � �; ��' � ���'� -��
<br /> a: by 3:;dici�..'s' �PPointed receil•er sh�:; be cnti.'.cd to c::e ,��: . :x:l.e ,cs�� �io:: o: a:,c'. r::.:sFc ; hc Yrcpert.
<br />� aad to oallect the rents of ttie ProPerty, incl+�dir.o these 1�<.st d�::e . All rcnte � ollectec� t�}• Lrn?cr or ±hc• recei��cr �
<br /> shall be appiied first to payment of the coste of management of tl�e Yroperty and collection of rents, includinti, but '
<br /> notlimited to, receiver's fees, premiums on receiver's bond< znci reasonable attornc�� 's teee , anr.� then to the sums
<br /> secured b,y this MortRa�e. Lender and the receiver shall be liable to account only for thocc rents actunll} recc:ived .
<br />� � �
<br /> ��e�,.,... . . . . . . . . . . . , . . . . . `� . �
<br /> c . . . _ . . . . . . .
<br />� ,
<br />
|