|
�;:
<br /> � � , ����
<br />„�� �..:��b, ,
<br />�. �. . . . . . . . . . . . . . . . . . . . � . .8. , w1> � �
<br /> �^.� . . . . . . �
<br /> � �� not � extend ar ��oct-�one the due date oi tl�e morzfhly i���t:illments referred io in par.lgraphs ] � nd 2 hereof or � � � �
<br /> cliange the ainount of sucii inst�llments :
<br /> 10, Bonowez Not Rel�ased. Extension of ttie time for �>nyinent or modificut.ion of amortization oi the sums
<br /> secured �y tliis Afortgage granted by I,er�der to n,ny successor in interesf of Borrower sliall not .operate to re]ease,
<br /> in any manner, ,the liability o1 thc a•iginal 13a•ro�ver and ]3�rro�rer'; successois in interest . I.ender shall not be
<br /> required to commence �>roceedings againstsuclrsucceasor or reiuse. to extenti time for payinent or other�vise modify
<br /> t,y urnortization oT the sums seeured by tliis \Iortgage by reason of any clemand mncie i.n� the original Borrower and
<br /> � Borrower's successors in interest.
<br /> � m 11. Forbearance bySender Not a Waivez. Any forbearaiice by Lender in exercising any right or remedy
<br /> � � hereundei; or otherwise afforded by applicable Isw , shall not be a �+�ai-rer of or preclude thc exercise of any right
<br /> � or remedy hereunde2•. The procurement of insurance or tKe payment of taYes or other liens or c}iarges by Lender
<br />_ `' � gh? Ij nn±. k?e tt ivalvPi' Of 7,entier;c righf t � �rcelerat.e t,he maft�t•it,y of #.he inriebtrrin�cg �er�2recl hy th'+.s ��ertgage.
<br /> iZ. Remedies"Cumulative. �ll remedies provided in ti�is _lim•cgage are ciistinet an<t cumulative to any other
<br /> � right or remedy under' this \ Ibrtgage: or nfforded 1>,y l:in� or equit;y , and �n<iy be exercised concurrently; independ-
<br /> � ently or successively: '
<br /> 13. Suecessots aad Assigns Bound; Joint and Several Liability; Captions. Tlie covenetnts and agreements
<br /> herein contained shall bind , and tlie rights liereunder �liall inure Ca, tl�e i•esliective successors :iiid assigns of S.endsr
<br /> .ind Borrotiver; subject to the ��rovisions of par.xgraph 1 � I�ereof. All coveriants and agreements af $orrower shall
<br /> � � be joint and seveial . Thecaption. and I�eading, of the paragraph.� of this llortgage are for com�cnience only and
<br /> are not to be used to interpret or define the Iiro��isions hei•eof :
<br /> � � � � 14. Notiee. � Any noCicc to Borco�vc>, r �'�ro��ided for in this \lortga�� vhall iic di�-en b,y m�iling such notice b�� �
<br /> � certified mail �tddre�sed to I3orrower at the Yropert�y .lddrass stuted belo�r, escept ior .iny notice required under � �
<br /> paragraph lS hereof to lic given to I3orioti�er in tlie mann� r �n•escaibed l�y applic��ble la�r . Any notice �:�rovided
<br /> for in tl�is \Iortga�;e sli:ill be deerned to l�a��r bec�i gi��eii to Bori•o�ti�cr «�hea� gi�•en in tl�c manner designaited l�erein.
<br /> 15. Uniforni Mortgage; Governing Law; Severability. '1'his form of inortgagc combines uniform covenants
<br /> tor national use and non-utiiform covenatits �vitl� liroitcd v:�ri:�tions bti� jui•isdict.ion f.o constitute a uniform secu-
<br /> rity instruinent covering re�l pi•operty. Tl�is \Iortgage shalt bc gover�iect by the la�v of the jurisi.iiction in which
<br /> the Property is loca.ted. In the event ihat any provision or clause of this \Qortgs�e or the Note conRicts with
<br /> applicabielaw, such conflict shull not affect othex• ��ro�•isions ot tl�is \Iortgage oi• the Note �vhicli can be given
<br /> effect without the confticting provisiou , and to this end tl�e �.�rovisions of the \ Iortga�e and the Note are declared
<br /> to be severable.
<br /> 16. Bonowei s Copy. Borrower shnll be furnislied a confoi•me<i copy of this _llortgs6e at tl�e time of execu-
<br /> tion or after recordation hereof.
<br /> 17. Transfer of 4he Property; Assumption. If all or any part, of the Property or an interest therein is sold
<br /> or transferred by Borrower without Lender's prioi• �vritten consent , excluding ( a ) the creation of a lien or encum-
<br /> brance subordinate to tl�is \Iort�age , l�� ) thc creation oi' a ��urchase �none}• security interest for liousehold appli-
<br /> ances, (c) a transfer by devise, descent oi• by operation ot la ��� upon the deatli of s joint tenant or (d ) tlie_ grant of
<br /> k uny ]easehold interest of tliree ,yeais or les, not, contaiuing an option to purchase, Lender uiay, at Lender's option,
<br /> declare all the sums secured by ihis A�Iortgage to be in»uediatcly- due ;ind �.�syable. Lender shall }iave waived such
<br /> option to acce]erate if, prior to tl�e sale or transfer, Lender and the pereon to �vhom the Property is to be sold or
<br /> transferreei reacl� agreeinent in ���riiing tliai tiie credit oi suc.l � �>erson is sutisfaciory to Lender and tl�at the interest
<br /> payable on tl�e sums secured b,y this \�Iortgugc shall be at sueh rate as Lender shall request . If Lender has waived
<br /> ; the option to accelerate provided in iliis paragrapli 17 and if 13orraw•er's successor in interest has executed u writ-
<br /> ten assumption agreemeni accepted in writin� by I,ender, I.ender shall release Burro�ver irom sll obligations under
<br /> this Mortgage and the Note.
<br /> If Lender exercises such option to acceltrate . I.ender shall �nail Borrower notice of acceleration in accordance
<br /> �vitl� paragraph 14 hereof. Sucl� notice sli:� ll pro�•ide a periocl of not le�s thnn 30 days from thc date the nof,ice is
<br /> mailed within which Borro�c•er may pap tl�e swn� declared due. If Borro�cer f<iil� to ��ay ,uch sums prim• to the
<br /> expiration of such period , Lender may, ��•ithoui ftirthcr nocice or ciemsnd on I3'orro�ver, invoke sny remedies per-
<br /> mitted by paTagraph 1S l�ereof.
<br /> ; Nox-LTxisoa.nz Govr; xn� rs. I3orro�cer iiud Lendc� r furtlier c;o��enant ancl a;-i•ee as fo]] ows :
<br /> 18. Acceleration; Remedies. Ezcc�>t sx� pi•o��idc� l in inu•:i�r;i� �h ] 7 hereof, u��on Borrower's breach of an��
<br /> covenant or agreement of Borro�rer in t6is \Iort�;agc• , in<lu� iing ilic oovcnanL> to pay x� lien duc auti� cuins secui•ed
<br /> � by this A4ortgage, Lender l�rior to vccelerat�ion �luilt nv�i ! r��licc to Borro���� r as � n•o�• ide� � in para�rsph 14 liereof � �
<br /> Fpacifying : ( 1 ') the broacl� ; 1, 2 ) the action rcyuired tu curc �uch I�rciir6 ; 131 it c'Irttq not less than thirty days � � � � �
<br /> Prom the date the notice it mailed to 13orro�cer. I ,�• �rhlch �ucli bre3eh � uust; be cureci ; and ( 4 ) that Cailure [o eure
<br /> sueh breach on or }�efore tl�e date �pecifitd in thc noticc �uay resuit. in :�c�celvration oi tlie sunis secured by this � � � �
<br /> � Nfort�gage and sale of the Property. If thc breach is not cure<1 on or before the date s�eoified in the notice, Lender � �
<br /> at Lender's option may declarc all of the ,ums secured 6�- tliis \ Tortgagc to 1�e iininediately clue and payable
<br /> without further demand and �nay foreclosc tl� is �lortgage h}- juiiirial �ii•oceedin�; . Lender sliall he entitled to collect
<br /> in such proceeding :all expenses ot foreclosui•c , including, but not liu�ited to, co�ts of docunicntary evidenee,
<br /> abstracts and title reports.
<br /> 19. Bonowar's Right to Reiastate. Not«�itl��tanding T.endei's .�ccelei•ation of the sums eecured by this � �
<br /> Mort�age, Borrower shall have the right to hu��e ai�y Proceedir�Rs hegun by Lender io enforec this Uortguge dis-
<br /> continued at any time prior to entry of a judgmeni enfoxcing thi� \ Iortgzige if : ( ai I3orroxer pa,ys Lender all
<br /> sums which would be then due under this 1lurtga�;e ; t6e Note nnd notes securing b'uture Ad�•auces, it any , had no
<br /> acceleration occurred ; (b ) Borrower cure. all breuches of a�n• othei• co�•enant� or• ��;rcements of Borrower con-
<br /> tained in this Mortgage ; (c ) Sorrower pa}-s all reasonabic e�pi�nses incurred b�� I.e�nder in cnforcin�; tl�e co��e2iants
<br /> and agreeinents of Borrower contained in this \( ort�:a{�e and iu eniorcing T,r»cic��'� reinediee ;« ��rovided in pa�rn-
<br /> graph 18 hereof, including, f�ut not !imitcd ! o, rcasonable at ' o:ne�� 's 1cc; : au; : �I ) I3orro�rer takes ,uc1; aciion as
<br /> Lender may reasonsbly require to assure th3t the lien of thi� \lortga�c , Lendei•'s iaterest in thc Yroperty und
<br /> Borrower's obligation to pay the sums �ecured hy t6is \Cortg:�ge �liall continuc unimC>sired. L?pon ,uoli pay�tient
<br /> nnd cure by Borrower, this D4ortgage and tl�e obligutions :ecured hereb�� .Lall remain in ful ! foi•ce and efFect 1s if
<br /> no acceleration had occurred. � �
<br /> 20. Assi9ameat of Rents; Appoint:aent af Receiver; Landez in Possession. As additionsl security here- ' - � � p ; �
<br /> , undez, Borrower hereby assignsio Lender ihe rents of the Property ; prorided that }3orrow�er shall , prior to acceler- f � .�� "
<br /> atian under pacagrapl� IS hereof or abandonment of thc Property, have thc right to collect �nd retain ,uch rents Y .
<br /> ' t„� as they become due and payabie. � , ' „�t
<br /> Upon acceleration under paragraptr 18 hereof or xbancionment of the Yroperty , Lender, in F�erson , b�> agei�t ' .� "
<br /> or byjudioielly appointed receiver shall t�e entitled fo enter upon, take �ios�e�sion of and in� nagc the Propert,y
<br />� and to colleet tiie rents of ilie Properi,y, inuiudin�; tL�se ��a:>c uue_ .\ il rent, �.ollecced by I,ender or tl�e recei��cr
<br /> sh:�li be app:ied first to paymcnt of the cosLa �I wnnu�rnma�� af U�u Pio��er�y r�n�l cull. cGiun oi renc,, includin�, bui� »,. :
<br /> not limited to, receiver's fees; premiums on rt�cciver'. boed� and re:s<�nsshle attorney� 's fees. isnd tlien to the ;ums
<br /> secured by this ;Vlortgage. Lender and the receiver shxll be lisble to account only for t }�ose rent.s aetuallv received .
<br />� ! � � ' �
<br /> r,e,w�LG�.
<br /> �
<br />
|