|
T";
<br />-�i?::�✓N.' �:
<br />��L�J%'q . . . . .
<br /> �
<br /> L
<br /> � _ � .. . . . . � . � � .. � . . . .. . � . . . . . . . � . . . . �
<br /> �� � 7- DOS7 S8' , •
<br /> , t �
<br /> not extenc3 or postpone the due datc of tlic inontlil}� installment� reSerreil to in p:iragraphs 1 und 2 hereof or I
<br /> cl�ange the u.mounL of such installinents.
<br /> 10. Borrower Not lieleased. �xtension of tlie tiane tor pa��ment ar modification of smortization of the sums
<br /> secured by tFiislSortgage graiited by I.ender to ;�n,y �uecessw• in interest. of Borrower sl�all not operate to release,
<br /> in ' any manner, the lia6ility of the original 13orrower and 13orro�i�er's successors in interest_ I.ender shall not be
<br /> required to commence proceedi;�ga against sucli suecessor ur retuse to extend tirne for pa,ytnent or otherwise modify
<br /> r x�mortization of the sums secw•ed by tl�is \tortgige by reaso�t uf any detnanci made b}� tl�e original Borrower and
<br /> Boriower's successors in . interest.
<br /> 11 . Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy
<br /> i hereunder, or othenvise afforded Uy apF�licable la�v , shall not be s «-aiver of or preclude the exercise of any righti
<br /> s, pr remedy, hereunder, The F�rocureinent of insurance or tl�e piiyment of taxes or otl�er liens or charges by Lender
<br /> '' shall not be'a waiver ' of Lender's rigl�t to accelernte tl�e iiiaturity of Ehe indebtedness secured by this Mortgage.
<br /> � 12. Remedies Cumulative. Ali remedies F�rovided in this \iortgage are distinet and curnulative to any oEher
<br /> righ£ or remedy under this lIortgage or afForciccl7iv ]a�c or eqiiity, and rnay� bc exercise�l concurrently, independ-
<br /> ; ently or successively.
<br /> 13. Successors �d Assigns Bound; Joint cmd Several Licxbility; Captions. Tt�e coveneints and agreements
<br /> herein cos�tained s}iail'bind , and the rights hereunder shall inure to, the respective successors and assigns of Lender
<br /> { a�nd Borrovver, subject to the provisions oE pat•agrupli 17 liereof. All covenants .ind agrecments oF Borrower shall
<br /> be joint and severaL The c:�ptions and he.idings of the p�eragra�ihs of this \Iortgsge ;ire for convenience onlp snd
<br /> ` are not to be used to interpret or define tLe pi•ovisiuns liereof.
<br /> ' 14. Notice. _�ny nottce to Borrorvcr pro�•ided fm• in tl�in \lortgage sl�all be given by inailing such t�ot'tce by
<br /> ' certified auail uddressed to Borrower at the Yroperty Addrec, stated �elo«�, except for uny notice required under
<br /> paragruph 18 liereof to bc giveu to Borro«�er ia tl�e rnaniiea• pi•escribed by ;�pplicablc law . Any notice provided
<br /> forin this 33ortgage shalt b� deemed to 6a��c been gieen to Borrower ��• I�en given in the manner design:�ted herein .
<br /> ' 15. Uniform Mortgage; Goveming Law; Severability. Tl�is forin of inortgage combines uniform covenants
<br /> forhational use and non-uniform covenants �vitl� limited rarintions by jnrisdiction to constitute a uniform secu-
<br /> rity instrument covering real property. 'I'his \fortgage shnll bc governed by the law of the jurisdiction in which
<br /> the Property is located. In the event that auy provision or clause of tl�is �lortgage or the 1Vote conflicts with
<br /> applicable law, such conflict shall not affect. otlier provisions of this \Iortgage or the Note �vUich can be given
<br /> � effect withoutthe confiicting provisiou, and to this end thc provisions of the �lortguge and the Note are declared
<br /> ta be severable.
<br /> � 16. Borrower's Copy. Borrower shall be furnished a conformed r,opy of this niortgage at the time of execu-
<br /> ± tion or after recordation hereof.
<br /> " 17. Transier of the Property; Assumption. If a11 or any part of the Property or an interest therein is sold
<br /> ' or,transferred b Borrower �vithoui Lender's >rior written conseut, excludin
<br /> Y � � (a ) the creation of a lien or encum-
<br /> branee subordinate to tl�is il4ortgage, ( b) the crention of a purchase money security interest for household appli-
<br /> ances, (c) a transfer by devise, descent or by operation of 1a1�• upon thc deatix of a joint tenant or (d) tlie grant of
<br /> sny leasehold interest of three years oi• less not containing an optioii to purchase, Lender may , at Lender's option,
<br /> declare all the sums secured by this �Iortgage io be itmnediatcl}• due ��nd payable. Lender shall have waived such
<br /> o�tion £:, accelerat2 if, �irior to the �ale or ta�aiisfer, Lenuer au�.i ihe persun to wi�oin tl�e Property is to be sold or
<br /> transferred reacli agreement in tivriting ihat tl�e credit oY such person i� sutisf� ctory to Lender and tliat t}ie interest
<br /> , payable on the sums secured by this �4ortgage shall Ue at sucli rate as I.ender shall requesi. If Lender has waived
<br /> the option to acceterate provided in this paragraph 17 and if Borrower's successor in interest has executed a writ-
<br /> ten assumption agreement accepted in �vriting by Lender, Lender sl�all release Bori•o�a�er froin all obligations under
<br /> this Mortgage and the Note.
<br /> If Lender exercises such option to accelerate, Lender shall :nail Boi•rower :�otice of ucceleration in accordance
<br /> �vith paragraph 14 hercof. Such notice shall pro�•ide a periocl of not less thun 30 day� from the date the notiee is
<br /> ^; mailed within �viiich Borrower may p:�y the sucns decl3red due. If Borrower fsils to pay sucli sums prior to the
<br /> � exPiration of such period, Lender �na}�, �vitliout furthci• notice m• �ie�nand ou 13'orrower, in�•oke any remedies per-
<br /> ' mittedby paragraph 18 hereof.
<br /> \'or-LTxiFonaz Covr;xw:aTs. Bori�o�cer and Lender furtl�er coveuant and ag•ree as foIlows :
<br /> 18. Accele:ation; Remedies. Except as ��ro�-icled in paragr.y ,h 17 licreof, upon Iiorrower's breach of any
<br /> covenant or agreement. of Borro�i�er in this \lort #;a�;c, inr. lu�iii�g tlic covenant.s to pay when duc ��ny swns secumd
<br /> by tliis :� Iortgage, Lendei• prior to .icccleration shal ! iu:iil noti�c to I3orroivci• us �>roride�i in paragrapli 14 liereof
<br /> specif,ying : ( 1 ) the breacl� ; (2) the action required to cure sucl � brc:�c6 ; � 3 ) a dnte, not, Iess tl�an ihirt.�� days
<br /> from the date thc notice is mailed to 13ori•oa�cr, 1 ,�• �chicli �urb in•c.ich iiiust be ciircd ; and 14 ) th:xt fnilure to cui'e
<br /> such breach on or before tl�e date specified in ti�e notice may result in acceleration of Uie sums secured by this
<br /> Mortgage and rale of the Prope�•ty. If the breaclx is not rurcd or or before tl�c d;�te specificd in tlie notice, Lender
<br /> at Lender's option may declare all of the sum: secw•ed by Lhis \fortguge to be immeciiatcly due and payable
<br /> w3thout further demand a:id may foreclose ti�is \1ort:gage b,y judicial ��roceeding. Lender sliall l�e entitled to collect
<br /> in sueh proceecling ull expenses of foreclosurc , inclu�lin�;, hut noi limited to, costs of document.ary ec�idence,
<br /> abstracts and title reports.
<br /> '' 19. Bonower's Right to Reinstate. A'otx- itLstanriing Leudei•', screleratia� uf the sums s�cured by this
<br /> Mortgage, Borrower shall have the right to have auy proeeedin�s fiegun I�y Let�dcr f:o enforcc chi� i�fortg�ge dis-
<br /> continued at any time prior to entry of a judgrnent enfoTcing thi, 1lortgnge if : ( a ) Borrow�er pays Lender all
<br /> sums which would be then due under this 1lortgwge, the �ote and notes securing F'uture Adrances, if any, had no
<br /> acceleTation occurred ; ( b ) Borrower cure� all 6recichc� oS an�• other co�-enants or a�rcements of Borrower con-
<br /> tained in Lhis :1Sortgsge ; ( c) Borro�ccr i3sy�s al! reasonab:i ex��ensc� iucw•rcd b�,� i,endi�r in ent�rcing clie covenauts
<br /> and agreements of Borrower contained in this \Sort�;agc and in enforcing Lender's remedies as provided in para-
<br /> grapli 18 hereof, including, but pot limited to, i•easonnble attorney's fee� ; aud � d ) Borroe�er tnkes such action as �
<br /> � Lender may reasonably require to assure th�t the lien of t2�is \Iortgage. Leaider's interest in t6e Yro}>erty and
<br /> � IIorrower's obligation to pay t�e n�us� secured by thi� liort �ugc <hall continue unimnaired . Upon such payment � ^ "w " ""
<br /> � �,
<br /> and cure by Borrower, this Mortgage and the obligatiou� >ecured herebv sh:ill remain in full force and effect iis if � ` -�r'` � +�
<br /> no scceleration had occurred. �; � ��, .
<br /> 20. Xssigtietent ,of Reats: Appointment of Receiver; Lender in Possession. �s additional security liere-
<br /> �;, , under; $orrower hereby xssigns to Lender t]ie rents of tfie Propert}•. pi•ovided that Borrod•er slzall , prior t.o acceler- w����^
<br /> ation under paragraph ]8 hereof or abandonment of the Yroperty, Iiave thc right to collect ancl retain such rents : ,� =
<br /> , ' as they become dve and .payable: ' , . . ; ,
<br /> � . = lipon acceleration under paragrapl� 18 hereof or :tbandonrnent oi the Yroperty , Lender, in per�on, bv agent.
<br /> ur Ly :ju�liaially u��oiuLe�3 receiver a1�all he entit.led to enter u7ion , take ��o�session ot iind �nann�e the Propeny -�- �
<br /> amd to collect the rents=of the Property; includinp those ��a�L due: :�li rents collected by Lender or the receiver
<br /> shall be applied first to payment of the costs of msnagement �of the Yroperty and coller. tion of rents , includin�, but
<br /> not limited to, receincr's fecs, premiums on teeci�-cr's bor_d� ^nd reasonst�lc at.tornc3-'s fces, a:: d thcn to thc sums
<br /> seeured by this Vlortgage. Lender and the receiver cl�all be liable to accocnrt ont�� for i6ose rent.s :ict,uall� receired .
<br /> � �
<br />?- _ r
<br />� _
<br /> a. e
<br />�� �
<br />
|