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<br /> � �I� . � . . . . . . . , � ..: . . . � . .. . . .. . . . .. . . . . . � . .. . . . . . . � . . . . •� . . . . � ��: l�:
<br /> �V � �� � � ' • ^ P
<br /> , not extend or postpone the due date oi Ghe montlily inetnllments referred to in paragraphs 1 and 2 hereof ar
<br /> chenge the amount of such installments.
<br /> { ' l0. Borrower Not Released. Extension of the time for payment or inodification of amortization of the sums �= '
<br /> � secur�by this i�'Ioitgage granted �y I.ender to any successor in interest of Borrower shall not .operate to release, s
<br /> in nny manner, the lisbility of ,the ori�inul Bonower and Borrower's successors in interest. Lender shall not be ��
<br /> � required to commence proceediaga against suclr suocessor or refuse` ta extend time for payment or othernise modify 1 `r'
<br /> amortiaation of the aums aecared by this \iortgsge by reason of any demand made by the originai Borrower and �_
<br /> ' t Borrower's aucceasors in interest: � '
<br /> ;� t 11. Forbeataaee by Lender Not a Waiver. Any forbearance by Lender in exercising uny right or remedy �
<br /> °] hereunder, or otherwise afforded by applicable lad-, shall not he a waiver of or preelude the exercise of any right �
<br /> � ri or remedy hereunder. The procurement of insurance or ttie payment of taxes or other liens or charges by Lender ' ` '
<br /> � OO shalI not be a �vuiver of Lender's right #o accelerate the muturity of the indebtedness �secured by this Mortgage. k � s
<br /> G\t 12. Remedies Cumulafive. All remedies provided in this \4ortgage ure distinct and cumulative to any otfier ;� '�-,4.
<br /> ` � O right or remedyunder this �Iortgage or nfforded hy la«• or equity, and may be exercised concurrently, independ- : ;
<br /> O entlq orsuccessively. � �,.
<br /> � 13. Successors �d Assigas Bovad; Joiat �ad Several Liability; Captions. The covenflnts and agreements
<br /> F � herein contained shall bind, and the rights hereunder shall inure to, thc respectivc successors and assigns of Lender ±. ',-
<br /> ' � nnd Borrower, subject to the provisions of puragraph 17 hereof. 3tl covenants ssnd agreements of Borrower shsl[ > �
<br /> ' ; ^ be joint and se��eral. The captions snd headings of the ��aragraphs of this \ [ortgagc are for convenience only and
<br /> t are not to be used to interpret or define Lhe provicions hereof.
<br /> j 14. Notiee. Any notice to Borrower pro�•ided for in tliis \Iortgage shall hc gi��en by mailing sucli notice by .;�
<br /> certified mail addressed to Borro�ver at thc Property Addrese stated belo��• , except tor �ny notice required under
<br /> � paragraph 18 hereof to bc given to Borro«•er in tLc �nanner �irescribed by applicable law. :1ny notice provided , :
<br /> for in this \4ortgage shall be deemed to ha�•c been given to Borro�cer wlien given in tlic manner designated herein. � �K
<br /> 15. Uaiform Mortgage; Governing Law; Severability. This form ot mortgage combines uniform covenants <<-
<br /> for national use and non-uniform covenants witli limited variations by jurisdiction to constitute ss uniform secu- i
<br /> rity inatrument covering real property. This \Iortgage shnll Ue governed by the ls�v of the jurisdiction in which :V
<br /> ,°. the Property is located. In the event that any provision or clause of this Mortgage or the Note conflicts with
<br /> ' applicable law, such conflict shsll not affect. other provisions of this \Iortguge or the Note which can be given r; ,
<br /> � effect without tl�e conflicting provision, xnd to this end the provisions of the 37ortgage and the Note are declared
<br /> `i to be severable. << '
<br /> _ #. 16. Bonowei s Copy. Borrower shnll be fumished a conformed copy of this D4ort�age at the time of execu- ; � ' •, , ;�.
<br /> ?' tion or after recordation hereof. s ;�
<br /> � 17. Trm�sfer of the Pzoperty; AssumpGon. If all or any part of the Property or an interest therein is soid ; � %1 `f
<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 Mortgage, ( b ) the creat.ion of a purchase money security interest for household appli- ; ' r,�;
<br /> ances, (c) a transfer by devise, descent or by operation of la��• upon the death of u joint tenant or (d) the, grant of '�'
<br /> any leasehold interest of three years or less not containing an option to purchase, Lender may, at Lender's option, ' ; ,, "
<br /> declare all the sums secured by this Mortgage to be immediately due and payable. Lender shal( have waived auch w 'i
<br /> ' option to accelerate if, prior to tl�e sale or trnnafer, Lender and tl�c person to whom the Property is to be sold or � + `
<br /> � tranaferred reacli agreement in �vriting tl�at the credit of such person is satisfuctory to Lender and that the interest ;°;
<br /> payable on the sums secured by this VIortgage shall Ue at sudt rate as Lender shall request. If Lender has waived 4-.`,''F
<br /> , the option to accelerate provi3ed in this paragrapli 17 and if Borro�ver's successm• in interest has executed a writ- °
<br /> " ; ten assumption agreement accepted in �vriting by 1.ender, Lender shall release Borrower from atl obligations under � r s
<br /> �' this Mortgage and thc Note. �
<br /> 7: If Lender exercises sucl� option to accelerate, Lender shall cnuil Borrower notice of acceleration in accordance �, u
<br /> �vitl� parsgraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is
<br /> � mailed within which Borrower may pay the sums declared duc. If Borrower fails to pay such sums prior to the � �Y
<br /> } expimtion of such period, Lender �nay, «•ithout further notice or demand on Borrower, invoke any remedies per-
<br /> ` mitted by paragraph 18 hereof.
<br /> ; _
<br /> " .:�. � � 1�TON-UNIFOR�M COVENANTS. I301'I'OWPI' RT7(1 Lender furtlier covenant and agree as follows : ' _
<br /> � }, 18. Acaeleration; Remedies. Except aas ��ro�•ided in parssgr:qili 17 hcreof, upon Borrower's breach of any ? %
<br /> �, covenant or agreement of Borrowcr in this �ImKgnge, including tLe covenants to pay ��•hen duc any cums secured �
<br /> " , �; by this 14ortgage, Lender prior to acceleration �liall ivai ( notice to Borro�vcr as ��rovided in parrsgraph 14 liereof
<br /> ' ?' �pecifying: ( 1 ) the breach ; (2 ) the nction required to cure sucli breach ; (3 ) a date, not less than thirty days .`.'
<br /> 7' from the date thc notice is mailed to I3orro�ccr. I >}• ���I�icl� sucL breacl� must bc cured ; and f41 that failurc to curc
<br /> ; �, such breach on or before tl�e date specified in tl�e noticc may resu�t in acceleration oC tl�c sums secured by this _
<br /> � Mortgage and sale of the Property. If the breacli is not cured on or before the date specified in the notice, Lender
<br /> , , ;,, at Lender's option may declarc all of the sums secured by this �tortgage to be immediately due and puyable
<br /> � ! without further demand and may foreclose tliis VIortgnge by judicial proceedin�. Lender shall be entitled to collect
<br /> in such proceeding a11 expenses of foreclosurc, inclu�ling, hut not li�nited to, costs of docwnentary e��idence,
<br /> � ' �' abstraets and title reports.
<br /> �� 19. Boaowers Right to Reinstata. Notavithstanding I.ender's acceleration of the sutns secured hy this
<br /> � Mortgage, Borrower shall have tlie right to ha�•e any proceeding� hegun L�y Lendcr to enforce this VIortgage dis- ;
<br /> � • , continued at any time prior to entry of a judgment enfo7rcing this 3lortgage if : (al Borrower pays Lender all �
<br /> , - � sums which would be then due under this �fort�Gage, tlic Note and notes securing Future Ad�•ances, if any, had no
<br /> >: ; acceleration occurred ; (b) Borxrower cures all breaches of am• other cocennnts or agrcementg of Borrower con-
<br /> ' tained in this Mortgage ; (e) Borrower pays ull reasonable capenses incurrcvi by I,en3er in enforcing t.he covenanLs
<br /> ' � and agteealents of Bonower contained in this J4ortgugc and in enforcing Lencicr's reroedies as provided in para-
<br /> ?
<br /> <r '�� graph 18 hereof, including, but noti limited to, masonable attorney's iee- ; and Id ) Borrower tnkes such action as ,
<br /> � �'�� Lender may reaeonably require to assure tkYat the lien of this liortgagc, Lender's interest Sn the Property snd
<br /> t � � $orrowe;'s obligstion to pay the aums secured hy this JlortgAge ehali continue unimpaired. Upon such payment
<br /> -. .,_- .
<br /> �; � and cure by Borrower, this Mortgage and the obligations secured i�creb�� shall remain in full force-and effect as if :�'
<br /> �� ; no socelerat�on had occurred. � `� a
<br /> � , ; 20 A�wgnment of. Reats; Appoiatmeat of Raceivar; Lender in Possessioa. As additional security here- �� , ;;
<br /> �under, Borrower hereby sasi�s to I:ender the renfs of t6e Property, rro��ided that Bonower shsll , prior to acceler- �': . z '
<br /> afSon uuder, paragraph 1$ ;hereof or abandonment of the Property, have thc right to collect and retain such rents y -`�' `�
<br /> �. .' . . . . , _ _ . . . . � � . ' . F .i"al .
<br /> sa tLey-becmne-due and "payabi� . ,�,
<br /> ,,.
<br /> � " IITirnn acceiecation under psrsgraph 18`hereof or absndonment of the Yroperty , Lender, in ��erson, bv agent ";�� '�'
<br /> � � br by: judicislly appointed receiver ahall he entitled to enter upon , take poaaeasion of nnd �nana�e the Pmpert.v �'�
<br /> °'ry�a snd,torcollect the, rents of the Property,, including :thoae Pest due. All rents cotlected by Lender or the receiver
<br /> a� �.r , shall bespplie� first to payment of the coats of tnanagement of the Property stnd collection of rents, includin�, hut
<br /> ,� 8 not limited to, mceiver's feea, p;eminms on rcceiver's boads and reasonuble attorncy's fcea. nnd then to the sums
<br /> .aeoured by thia iGLortgage. Lender and the receiver shall F�e liubtc to account only for those renis actually received . f
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