|
-�,.�
<br />�^„�*�' �
<br />� , ��
<br /> � . . . . � .. . . . . - _ , . � . . . : . . � . �. . . . . .. �. . . . . . . . . . . . . . % � :.�:;:�ww'�► ' . .
<br /> �'' � . . . ,,.W.,.,,,i , � �
<br /> not extend or postpone the due daCe of the monfhly inst.il ) rnents referred to iv paragraphs I and 2 l�ereof or
<br /> change tlie an]ouni� of sucl� installn�ents.
<br /> 10. Borrower Not Released. �xtension of tl�e time Sor pavme»t or modificat.ion of ainortiza,tion of the sums
<br /> secured by this _17ortgage geanted by I.ender to any �uceessor in interes 't of Borrawer shall not operate to release,
<br /> ^ in ' any manner, the liabilit� of the original Borrower and Borro�rer's successors in inierest. I.,ender shall not be
<br /> � a•equired to commenceproceedings againsEsucli successor or refuse to extend tinie for payment or otherwise modify
<br /> r� ainortization of the Sunis secured by tliic ,llortgage by reason of' .uiy demanci �itade by tlie original Borrower and
<br /> Borrower's successors 9n interest. `
<br /> � 11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy ;
<br /> � O'� hereunder, or otherwise afforded by applicable law; sliall �iot be a waiver of or preclude the exereise of any right
<br /> 'C-.'�.. oa remedy hereu�der, Tlie I�i•ocurement of insurance or the pa��ment of taxes or other liens or charges by Lender
<br /> j i1`+ shall not Ue a wa,iver of Lender's rigiit to accelerate the maturity of tlie indebCedness secured by this �A4ortgage.
<br /> t.r 12. Remedies Cumulative. :�Il reinedies provided in tl�is \Sortgage are distinct and cumulative to any other
<br /> r �;.: rightor remedy under tl�is ,lqrtgage or affordcc{ by ta��� oi• ecjuit,v, and rna5• Gi� exerci�ed concurrently, independ- ;
<br /> '.,,.""'',. ently or successively.
<br /> j '� , 13. Successozs and Assigns Bound; Joint and Several Liability; Captions. The covena�nts and agreemente
<br /> ? � herein contained shallbind, and the rights liereunder aliall inw•e to, t.hc respectivc successors and 3ssigns of Lender
<br /> i I'� and Borrower, subject to tlie provisions of pnragrn��li 17 hereof. All covensnts and agreements of Borrower shall
<br /> be joint ar�d several: The captions and I�e.sdings of t,he �iaragraplis ot tt�is � Iortgage are for convenience only and
<br /> `' ! are not to be used to inierpret or defiiie tlie provisions l�ereof:
<br /> :F 14. Notice. Any notice to Borro�t-er pro�-ided for in t.lais �Iortgage �liall be gi��en by msiling such notice by
<br /> certified muiP addressed to }3arro�cer at tl�e Pro��erty �ddre�s ctsted belo�s . except for any notice required under
<br /> � � � paragraph 18 l�ereof to be given to Borro�cer iu the manner i�rescribed b� applicable law. any notice provided
<br /> for in this :liortgage s6a11 be deemed to ha��c bcen gi�•en to i3orro�i�er wl�en given in the manucr designated herein.
<br /> 15. Unifonn Mortgage; Governing Law; Severability. This form of rnortgage combines unitorin covenants �'
<br /> for national use and non-uniform covenants �vitL limited ��aristions b}� jurisdiction to constitute a uniform secu- ','
<br /> rity instrument covering real property: This \iortgage sha11 be governed by tl�e Ia�v oi the jurisdiction in which
<br /> the Property is locuted . In the event khat any provision or clause of tl�is \lortgage or the Note conflicts witl�
<br /> applicable law, such conflict shnll not affect otl�er provisions of this \Zortgage or the ATote \vhich cun be given
<br /> effect without the conHictin� provision , and to this end the provisions of the Jlortgage and the Note are declared
<br /> to be severable.
<br /> 16. Borrower's Copy. Borrower shall be furnished :� conformed copy of this Mortgage at the time of execu-
<br /> tion or after recordation hereof.
<br /> 17. Transfer of the Property; Assumption. If al1 or any nart of t.he Property or au interest therein is sold
<br /> or transferred by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encum-
<br /> brance subordinate to this \4ortgage, ( b ) thc creation oi a purcha�e iuoney security interest for household appli-
<br /> ances; (c) a transfer b,y devise, descent or by opertxtion of la��• u�zon the death of a joint tennnt or (d ) td�e_ grant of
<br /> unyleasehold interest of three years or less not containing an option to purcl�ase, Lender may, at Lender's option,
<br /> � declare all the sums secured by this D�ort.gage to be immediately due and payable. Lender shall have waived such
<br /> ; option to accelerate if, prior to tlie sale or transfer, Lender und the person io whom the i'roperty is to be sold or
<br /> transferred reach agreement in writing tl�at the credit of sucl� person is �atisfsctory to Lender and tl�at the interest
<br /> payable on the sums secured by tl�is �Iortgage sl�all be at sucl� ratc as Lender shall request. If Lender has waived
<br /> the option to accelerate provided in this paragrapli 17 and if Borrotivei's successor in intcrest l�as executed a �vrit-
<br /> ten assumption agreement accepted iii writin6 by Lender, Lender shsll release Borrower froui all obligations under
<br /> x.his Mortgage and the Note.
<br /> ` If Lender exercises sucl� option to accelerate, I.ender shall :uail Borrower notice of acceleration in accordance
<br /> t �vitli paragraph 14 hereof. Such noticc s1i:111 proti�ide a ���riod ot not less than 30 da,ys from thc date the notice is
<br /> i mailed witl�in whicl� Borron•er may pay the sums declared due. If Borrower fails to pay such sums prior to the
<br /> i expiration of such period, Lender �nay, �vit.l�out furtiier notice or demund on F3'orro«•er, invoke anV remedies per-
<br /> cnitted by paragraph 1S hereof.
<br /> � ivTox-UxiFoaai CovExe*cTs. Borro�eer aiid Leuder furti�er co��c>nant and agree as follows :
<br /> � 18. Aceeleration; Remedies. Except :t� pro��icte� l in � iurugru� �li 17 hereoP, upon 13orrower's breach ot any
<br /> ; qovenant or agreement of Borroa�er in this \Sort�;ugc , including tLe covenaatt to �>ay �+� hen due any sunis secured
<br /> ,' by this :�Sortgage, Lender l7rior to accelci;�tion sl�ull in:tiil notice to I3orro�aer ns � �rovidect iti ��aragraph 14 hereof
<br /> <� � � � specifying; ( 1 ) �the breacl� ; (2 ) the nction required ro cwr �uch br�uch ; t3 ) a date, not less than thirty days �
<br /> ,� fro�n the dute the noticc is mailed to I3m•ro��•er, h}• u hicl� .itch breach �nu�t t�e <•ured ; and (41 thui failm•c to cure
<br /> ) such breach on or before tlie date specified in t6c notice muy result in acceleration of the surns �ecured by this
<br /> F �Iortgage and sale of the Yroperty . If the brcach is not cw•ed oi: or betore the dai.e specified in the notice, Lender
<br /> at I�ender's option rosy declare all of thc sum� secured by thi� �Iortgage to be inunediately due and payable
<br /> � without further demand and may foreclose tl�is \lortgage k.>�� judicisl proceeding. Lender shnll be ent.itled to collect
<br /> in such proceeding ssll expenses of foreolosui•c , including, but not liinite�9 to, co,ts of documentar,y e��idence,
<br /> abstracts and title reporte.
<br /> 19. Boaower's Right to Reinstate. Noi�cithstanding Lender's acceleration of the sumc �ecured by this
<br /> � Mortgage, Borcower shall have tl�e right to ha�•e any proceeding� begun b}� Lender to enforce t6is Atortgage dis-
<br /> continued st any time piior to entry of a jud�ment enfo7cing this Jlortgage if : la ) Bm•ro�rer pays Lender all
<br /> sums which would be then due under tliis �Iartgagcr , the lote und notes securing Future Advxnces, if any , had no
<br /> aeceleration occurred ; (b ) Borrower cures all breach�, of an�• other covensnte or agreements of Borrower con-
<br /> tained in this Mortgage; (c) $orrower pays iill maconable ea�ieuses incurmd hp Lc:nder in enforcing the caven�,nts
<br /> ' snd agreements of Borro�rer contnined in thi� _llart �,�i „;c ai:d iii enfo.�ciz:r I.: c+ u•'� rc•zz:edic. ;is ��re��ided in ��a:a-
<br /> � graph '18 hereof, including, but. not limited to, reason:ible .sttm•neti� '� fee� ; and Id ) 33orrower tnkes such .�ction as
<br /> � - Lender may reasonabiy require fo ussure t.hnt the lien of thi� 1lortgage, Lende.r's interest in the Property and y
<br /> ' Borrower's obligation to psy the sums secured by tl�i: �lprtgage sliall continuc uniin��uired. Z?��on such pnyrraent
<br /> ' and cure by $orrower, this Mortgage and t,he obligation� �crured ]iereb�� shzll minain in full force and effest as if `" � �
<br /> ; no acceleration had oecurred. _ ' " ,� . " �
<br /> � 20_ Assi �j' „
<br /> , qataeut of Rents; Apgointment o! Receiver; Lender in Possession. As additional securit,y here- � � w;,e,�
<br /> �f under, Borrower izereby sseigns to Lender the rents of t3�e Property, pi•o�•ided tUat Borrower shall, prior to acceler- iT,.,
<br /> ation under paragraph 18 hereof or abandonment of the Pro�aerty , hs�•e thc ri�ht to collect and mtain such rents ' T4yY
<br /> ' � se they become due and ��ayable. +"�� '
<br /> .
<br /> = Upon aceeleration underpsragrapl� 1S liereof or x;bando�rnent of tkie Yroperty , Lender. in person , Uy agent ,
<br /> or by. jut3icialiy a.ppuiiaf,eu receiver cl�all bu enLiiJeil w euter uF>un , lake ��o.�e�::ioi! o( iin�1 ivaiinKe tlie Propert,y
<br /> ' ti and to callect the rents oF the Property, iuclu�lirig tLuau J �ueLdue. All r�stita cuilret-eQ f�}� Leuler eir the receiver M,.
<br /> � ' shall be spplied first to �aymentof the cnsts of mana�;emt�nt of tl�e Yropert�• snd coliect�., : : � :.t� , inc)nding, but
<br /> not limited to, reeeiver's fees; premiums an receiver', i�ond� and reasonuhle :�ttorney 's fe�.� and then to the sums
<br /> �er,nrad �iy thi� Mort.�ngP Tmn�ler nn�l th� rPreiv�r �hAll h� li :� hl� tn arrrnmt .nnh� for tho�c rcnf � aot �» fly received .
<br />• � I �
<br /> .., ,_
<br />�,
<br />'� ._ ... '
<br />
|