|
4
<br /> �' l �r
<br />..,�� 3' �� ( 'u' 1
<br />� . � . . . � . . . .. . . � � . . � I �C. � .� ,rid�£ . .
<br />�f '.
<br /> � . . . � . � � � .
<br /> not' extend or �liost.poi�e tLe due� ciate of the mc�i�tl� ly inscrilhuernts re1'r.,rre��� to in paru�;raph� ] and `2 hereof or � � � �
<br /> � � change tIie amount of sucl; � iiYstallments. � � � � � � � �
<br /> 10. Botrower Not Released. l3xtension of t:l�e iime for papntc:nt ar modificaiiuu of amortizntion of the sums
<br /> secured by this ��f�rtgage branted by Lender to any �uccessor in iniei•est of Borro«�er shall not operate to release,
<br /> in any n�anner, the liability of the original Iiorro�ver c�nd }3urron�cr '. huece�sois in interest, Lender snall not be
<br /> required to commence proceedingg againsG sucl� successor m� reiusc to extend time for payment ar otherwise modify
<br /> � uinortizaGion bf the sums secured by kl�is \ Im•tgage hy reaso� i of nn�• demanci made by the origina,l T3orrower �and
<br /> � � Borrower's successors in interest. ,
<br /> C(:% 11. Forbearance by Lender Not a Waiver. ?,uy 2orbearaiice by I,ender in exercising a,ny right or remedy
<br /> C';' hereunder, or otherwise sff�rded by apglicable la��� , shall not be n n�aiver of or preclude the exercise of any right
<br /> �' ' or remedy herew�der. The x�racurement' of insurance or thc paymeni: of tases or other liens or c6arges by Lender
<br /> �..�' s5a11 `not be' a waiver of Lender'; right to acceleraite tlre maiurity of t.l�e indebtedness secured by �his lblortgage.
<br /> �`:- 12. Remedies Cumulative. .�11 remedies provided in tl�is �lortgage �re disiiuct and currrulative to any other
<br /> right or remedy under this \ Tortg:�ge or :�ffori9ed hy l:ti�v o�• equit,y , and may� bc eiercised concurrently, independ-
<br /> � ently or successivety. ,
<br /> ^ 13. Successors and Assigns Bound; 7oint and Several Liability; Captions. 'I'he co��enxints and agreements
<br /> herein contnined shall bind , and the rights lyereunder shall inure to , thc respectivc successors and �ssigns of Lender
<br /> and Borrower; su6ject to the pro�•ision, of �>sragrnpl� l ; hereof. All covenant, and sgreerrrents of Borrower shall
<br /> ; be joint and severiil. The ca��t.ion� snd licxdings of tlie � iaragr;i� �hs oi' chis \ lortgage are for convenience only and
<br /> are not to be used to interpret or define the provision, liereof.
<br /> � 14. Notice. Anr not,ice to 13nrro��•cr pro�•ided for in this \lortgagc �halt be gi�•en by mailing such n�tice bv
<br /> certified iraait addressed to Boi'ro�s•er uc tlie Yroperty :3ctdre _ , �tated belotic-, etcept ioi• ssny notice reyuired under
<br /> paragrnph 18 hereof to bc gic-en to I3orro�cer iu Uie manuer prc�cribed b}• .t�>�,licsble law. Anp notice provided
<br /> for in this \4ortgage shall be deemed to 1����e becn gicen to Borro�cer �vhcu gi�•en in ihe manner designsted herein :
<br /> 15. Uniform Mortgage; Governing Law; Severability. 'Phis forn� of mortgage combine� uniform covenants
<br /> for national use and non-uniform covena�iits �aitL limited `•sriations bti� ,jtu•isc9iction to constitute a uniform secu-
<br /> rity instruinentcovering real property. Tliis \Ioi•tgage shall be governe<! by the ]aw ot the jurisdiction in which
<br /> the Property is located. In the event that :�u,y provision or clat�se oi this \Iortgage or the Note conflicts with
<br /> applicable law, such conflict shall not .iffect. otl�er provisions oF thi� \iortgage or the I�Tote �vhich can be given
<br /> effect without the conf�icting pro��ision , .Lncl to tl�i� end the i>rovisions of the llortgage and the Note 1re declared
<br /> to be severable.
<br /> 16. Borrowei s Copy. Borrower shall be furnisl�ed a conformed co�.�y of this �Iortgagc at the time of execu-
<br /> � tion or after reecrc3ation hereof.
<br /> � 17. Transfer of the Propezty; Assumption. If all or any part of the Property- or an interest therein is sold
<br /> i or transferred by Borrower without Lender's prior ���ritteii consent, ewcluding (a ) the creation o£ u lie❑ or encum-
<br /> brance sukaordinate to this �loitgage, ( k> ) the creation of' a purchase moncy security interest for household appli-
<br /> ances, (c) a transfer by devise , descent or Uy operation oi la��• upon tlic: death of a joint tenant or (d ) the grant of
<br /> any leasehold interest of three years or less not, containing .Ln opt-ion to purchase , Lender may , uG Lender's option,
<br /> declare all the sums secured by this il2ortgage tu be iro�nediatcly due and payable. Lender sliall l�a��e w.�ived such
<br /> option to accelerate if, prioi• to the sale or transfer, Lcnder und the person to �vliotn the Property is to be sold or
<br /> transferred reach agreeinent in writing that. tlie credit, oS such person is sutisfacta•y> tu Lender ancl tliat ti�c interest
<br /> payable on the sums secured by this �Iortgage shall be ut sucli rate as T,ender shall request. If Lender has waived
<br /> ; the option to accelerate provi3ed in tl�is pai•agi•apli 17 and if Borrower 's successor in interest lius executed a writ-
<br /> ten assumption agreement accepted in �vriting br ],ender, Lender shnll release Borrower from al! obligations under
<br /> this Mortgage and the Note.
<br /> 3
<br /> If Lender exercises such option to accelerate, Lender shall �i�nil I3orrower notice of ucceleration in accordance
<br /> , � �vith psragraph 14 hereo£ Such notico ahalt provide a ��eriocl of not less than 30 days fro�n t.he date tt�e notice is
<br /> ; mailed �vithin which Bon•otiti�ez• may pr�5- tlie stun. declai•ed duc . Ii Borro«�ei• lails to �iay such suins ��rior to the
<br /> expiration of such period , Lender may , wiiLotrt Sw-ther nutice or rlemanci on I3'orro�l�er, invoke any remedies per-
<br /> mitted by paragraph 181iereof .
<br /> Nox-LJxiFo�ns Cocr:xnxrs. Borro�ver :incl Lende �• furilier co�•enant aud anre� ati 1'ollow, :
<br /> 18. Aceeleration; Remedies. lixcept us � n•o �'ided in � �ru•a�ru� � l � 17 hereof , upon I3orro��er's fireach of any
<br /> , � � � covenant.� or u�reement of Borro«�cr in cliis 3Tortg:ig� , inrludin�; tLc covenants to pxy �S�l�en due uny sun'is secured �
<br /> by this illortgage, Lender �n•ior to ucccleratimi sLall iuuil ❑oticc to I3orro�rer as � �rovided i�i p�ra�;rapli 14 hereof
<br /> specifying : ( 1 ) tlie breacli ; ( 2 } the actian required to cw�c• such hrcach ; � 3 ) a date , not leaa tl �un tliirty days
<br /> 2rorn the date tl�e not.ice is �uailed to Boi•ro�rcr, I�}• ��� liich eiicli bre;icli zuust be ct�A•ed ; �nd (4 ) that failure co cure � � � �
<br /> auch breach on or before the dttte specified in thc notice may result in acccleration oC the sum� secured by this
<br /> Riortgnge and sa�le of the Yropei•ty. If the breach is not cui•ed on or befm•e tl�e date specifie�9 in the noCiee, Lender
<br /> at Lender's o}�tion inay declare all ot the sums secumd bv this \Iortgsge to be imu�ediutel�� due and payable
<br /> �vithout iurt�her deiYsand and �uuy foreclosc tlii� AYe�rfgaqcr b}r judicial proceedin5. I.ender slisll 1 >c entitle�i to co]lect � � �� � �
<br /> in such groceeding all expenses of foreclosLu•e , including, bnt nc�t limiteci to , costs of iiocu�ventary evidence,
<br /> abstracts and title reports.
<br /> 19. Boaower's Right to Reinstate. 1ot�ti�ithstandiug i,ender'� ncccleration of the sum� secured by this
<br /> Mortgage, Borrower sliall have tl�e right to have atiy peoceedin�s be�un by L.endei• to enforcc this :�4ortgage dis-
<br /> continued at any time prior to entry of a judgment enforcing thi� �forig�ge if : ( al Borro�cer pays I,ender all
<br /> sums which would be then due under this JIa•tgage. tlic Note and notes securin� Futuri Ad��ances , if any, had no
<br /> acceleration occurred ; ( b ) Borrower curec al ! breaches of .an}• other co��rnant; or agreementa of ]3orrower con-
<br /> tained in this Mortgage � (c ) Borrower pays all rea�onable es��en�es incurred by 1,cnder in enforcin�; the covenants
<br /> und agreeinents of Borrower confuined in this \Iort ;:uRe :irid in enforciug I,cnder'� reiuedie� si� pr<rvided iii pa�ra-
<br /> graph 1S hereof, including, but not limited to, rea,onable at.toruep '� iee� ; and � dj 13orrower i. akes such accion as
<br /> Lender may reasonably require to assure tliat the lien oi tl�i� \ Iorc �age, Lendei•': interest in tl�e Yroperi� and
<br /> Borrower's obligation to pay the sums secured b,y thi� \ Iorthage �hall contiuu� uniuipaired . Upon such payment
<br /> and eureby Borrower, this b4ortgsge and the oblig� tion. secured liereb�• slrall remui�i in full force and effect as if „�
<br /> no acceleration had occurred. , , � � ' ''� '�
<br /> 20. Fissignment oi Reatss Appointxnent of Receivez; Lender in Possession. A� sdditional securii}� l�ere- "` i�ij �:`"
<br /> under; Borrower hereby assigns to LendeT tlie rents of tlic Yropert�• , prn��ideci that Borro�ver s11a11 , rrior to acceler- 4 '�' 1
<br /> Lation, under paragrapli 18 hereof or abandomuent of tiic Property , ha.ve tlic rigl�t to collect an<9 retain such rents � �:rv
<br /> as they becomedne and payabie. : •yxt; �`
<br /> ; Upoa acceleration under paragrat�h 18 hereot or abandomnent ot tl�e Yropert�- . Lender. in person , b�� agent
<br /> or by'judiciallv rsppointed receiver shall be entitded to entcr ui�on , take tiosse�<ior3 of and msna�e th�� Yronertv
<br /> ' and ko col2ect the rents of the ,Yropertv: includin� those �inst due: ,�ll rents callected bp Lender or ti�z� receiv::r � '`
<br /> shall be applied first to payment of the costs of management of the Yropei•ty arad collection of rcnLs, including, hut "`"
<br /> not limited to, rEceiver's fees, ��remiums vn receiver'< bonds and reusan.iblc atiorney '� fecs . und then t� the ;mns �
<br /> secured by this Vlortgage. Lender and the receiver .�hnll b<: liahlc to account onl�� for tl�o�e rent� aictually received .
<br />� .
<br />� �..� � �
<br />�
<br />-�
<br />
|