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<br /> - � �"� � . . . .
<br /> ? not `extend or- postpone the due date of the monthiy instnllments refcrred to in paragraphs 1 and 2 �hereof or
<br /> � eha.nge the amount of such installments. , ''
<br /> � 10. Borrower Not Released. Extension of ttie tiine for pnyinent or �nodification of amortization of the aums
<br /> secured by tl�is Vlortgage'granted by I.ender to any successor in interest of Borrower shall not operate to release, ' �' n r
<br /> in any� manner;'tl�e liability of the original Borrower nnd Borrower's successors in interest. Lender shall notbe ` �
<br /> required;to commence,proceedings against suclr successor or refuse to extend time for payment or otherwise modify , ' "" ��y�
<br /> amortization of the sums secured by tl�is .\Iortgage b}- reason of any demand made by the original Borrower and � ' �' �r;
<br /> � Borrowee's succesaors in interest. � , ' , f a,
<br /> � ' 11. 'Forbear�ce-by Lender Not a Wmver. Any forbesrance by Lender in exercising any right or remedy ;;4
<br /> �- hereunder, or otherwise afforded by applicable daw, shali not be a �esiver of or preclude the exercise of any right , �.
<br /> -3 �' or remedy hereunder. The procurement of insurance or the payment of tuxes or other liens or charges by Lender ': ; � 4;
<br /> � ` shaIl not be a waiver of I.ender's right to accelerate the innturity of the indebtedness �ecured Uy this Mortgage. ` ' ' x
<br /> 12:`Remedies'Cumulative. All remedies provided in tliis \7ortgage are distinct and cumu2ative to any other ;,
<br /> ° ;.� right or remedy under this \Iortgage or afforded V>y la��• or equity, and inay be ezercised concurrently; independ- i� ti -
<br /> ently or successively. f ; ,`
<br /> r 13: $ucceasors �d Aasi Bound; Joint and Sgveral Liabilit C g ��
<br /> i gns y: aptions. The covenants and a reements ��
<br /> , � � herein contained shall bind, and the rights hereunder shall inure to, thc respective successors and assigns of I.ender i� ; � " �- ;
<br /> � and Borrower; subject io the provisions of paragruph 17 hereoL All covenants and ngreements of Borrower shaII t � ";�
<br /> ; j be joint nnd several . The captions and hendings of the parsgraphs of this \Iortguge are for convenience only and
<br /> � are not to be used to interpret or define the provisions ltereof.
<br /> 3 14. Notica. Any notice to Borrower pro�•ided for in this llortgnge shall be gi�•en by inailing such notice by � "r
<br /> -: � certified mail addressed to Borro�ver at thc Propert�� �ddress stnted belo�v , except for any notice required under �' . ;;i
<br /> ' i paragraph 18 hereof to be given to Borrow•er in the manner prescribed by applicable luw. Any notice provided ;.;, , 'p
<br /> ` � for in this �4ortgage shall be dee�ved to havc been gi�•en to Borro«•er ��hen gicen in the manner designated herein. ry�3
<br /> ",� I5. Uniform Mortgage; Goveming Law; Severability. 'fl�is form of mortgage combines uniform covenants
<br /> i � for national use and non-uniform covenants �vitl� limiteci �-ariutions b�• jurisdiction to constitute a uniform secu- t y�� �
<br /> i rity instrument covering 7ea1 property. This \Iort�age shall be governed by the Iaw of the jurisdiction in which
<br /> y the Property is located. In the eveni that any provision or clause of this \4artgage or the Note conflicts with ' ' u `
<br /> ` npplicable law, sucl� conflict shall not affect other provisions of tliis �Iortgage or the Note �vhich can be given t� ',rs
<br /> .� effect without the confticting provision, and to this end the provisions of the vlortgsge snd the Note are declared �; ;3 ,� fi* , ,
<br /> to be severable_
<br /> t ` 16. Borrower's Copy_ Borrower shall be fumished a conformed copy of this A�Iortgage at the time of execu- ;� ''� � i
<br /> � � tion or after recordation hereof. � �,'�y`
<br /> r�
<br /> , . ,�, 17. Traasfer of the Propedy; Assumptioa. If all or any part of the Property or sn interest therein is sold `' , ,.,y 1
<br /> � , or transfened by Borrower without Lender's prior written consent, excluding (a) the creation of u lien or encum- x• � „� i���
<br /> . � brance subordinate to this Mortgage, (b) the creation of a purchase money security interest for househoid appli- c ° a d, �,��'"`�
<br /> ' :S ances, (c) s transfer by devise, descent or by operation of lau• apon the death of a joint tenant or (d) the, grant of ' "� ��'r
<br /> � any leasehold interest of three years or less not containing an option to purchase, Lender may, at Lender's option, �• v � n�•
<br /> " ' � r �;;'
<br /> declare sll the sums secured by this Vlortgage to Ue imuiediately due and payable. Lender shall have waived such -
<br /> i option to accelerate if, prior to the sale or transfer, Lender :wd the person to whom the Property is to be sold or '^ �' �
<br /> � �: � r '; .v,
<br /> � transferred reacl� agreement in writing that the credit of such person is sstisfactory to Lender and that the interest �
<br /> �; paysble on the aums secured by this vlortga�e shull be at sucl� rate as Lender shall reryuest. If Lender hae waived ' , ,'":
<br /> , � the optian to accelerate provided in this paragraph 17 and if Borrower's successor in interest l�as executed a writ- f ` a»;`
<br /> 9 ten sssumption agreement accepted in writing by Lender, Lender shall release Borrower from all obligations under � s '�
<br /> this Mortgage and the Note. ' , ;
<br /> � If Lender exercises sucli option to accelerate, Lender shall �nnil Borrower notice of acceleration in accordance ' " ` �
<br /> s, with paragraph 14 hereof. Such notice shall provide a period of not less than 30 dAys from tlic date the notice is X;s�
<br /> :y mailed within which Borrower may pay tlie sums declared due. If Borro�ver fails to pay such sums prior to the
<br /> expiration ot such period, Lender may, without. farther notice or �ieinand on B'orrower, invoke any remedies per-
<br /> . � mitted by paragraph 18 hereof. �
<br /> � Nox-UxiaoRnL CovExexTs. Boi•rower and Lender furtl�er covenant and ag•ree as follo��s : '�
<br /> �
<br /> 18. AcceleraGon; Remedies. Except ns pro�•ided in parngra��6 ] 7 hcreof, upon Borrower's breach of any ' �
<br /> covenant or agreement of Borro�rcr in tlii� �fort�a�c, including U�c covenants to pay wlicn duc any sums secured ''
<br /> , � by this �1ort�age, Lender ��rior to ucceleration �I �ali uifiii noticc to Borrower iis �n•ovideci iii paragraph 14 hereof ;
<br /> , 7; specifying: ( 1 ) the bresch ; (2) the action rcquired to curc �uci� breach ; 13 ) n dsstc, no[. less thnn thirty days
<br /> j� from the date the notice is mniled to I3orrower, b�� ��•hich sticl� brcach iuust bc cured ; and (4 ) that failure to cure
<br /> ', such breach on or before the date specified in the notice �uay result in acceleration of tl�c sums secured by this
<br /> ;' Mortgage and sale of the Property. If the breacli is not cured on or beforc thc date specified in the notice, Lender "
<br /> = at Lender's opGion may declare ali oi the sums secured by ihis �Sort�age to be immediately due and psyable "
<br /> _ ,�; without further demand und may foreclosc tl�is �4ortgagc by judioial proceeding. Lender shall be entitleci to collect
<br /> ,' in such proceeding all expenses of foreclosurc, inciuQing, hut not liroited to, costs of docuinentury evidence,
<br /> , , ; nbstracts and title reports.
<br /> ,,_j� 19. Borrowsia Right to Rei:sstate. NotwitLstanding I.ender's uceeleration of the sumG secured by thie
<br /> �, Mortgage, Borrower shall have the right to ha��e any proceedings begun by Lendcr to enforce this �3ortgnge dis-
<br /> �i continued st any time prior to entry of a jad�;ment enfo)rcing this Jlortgnge if : ( a ) Borrow•er pays Lender all
<br /> �, sucns which would be then due under this �lortgsge, the Note anti notes securing Future Advances, if any, had no
<br /> ; acceleration occurmd ; (b) Borrower curea all breaches of any other covennnta or zigreements of Borrower con-
<br /> 1; tained in this ' Mortgage ; (c) Borrower pays all reasonablc expensee incurred b}� i,ender in enforcin� the covensnts
<br /> and sgreements of Borrower contsined in this \IortgaFe and in enforcing I.encier'.s remedies as provided in psra- :_;.
<br /> �' graph 18 hereof, including, but notlimited to, reasonuble nttorney'� fees ; anct Id ) Borrower takes such action as
<br /> , ,�,
<br /> �� Leader.;may reasonably require to nssure that the lien ot this \4artgage, Lender's interest in the Property and �
<br /> "� Borrower's obli ation to � "' ' '
<br /> g psy the sums secured by this liorigage sha❑ continuc tinimpaired. Upon such pnyment , ,� .._,.... a
<br /> `� and cure by Borroiver, this Mortgage snd the obli�ations secured liereUy shull remain in full fa•ce and ef�ect as if s ,�
<br /> �; rio aaceleration had occurreN. ' .
<br /> 20. Aasigam�nt.,of, R��a; Appomtmea! of Receiver, 7.ender in Posseasion. As additionsl security here- J �,��' � , �ti';
<br /> E
<br /> � uqder, Bortower heieby, seaigns to Lender th"e rents of fhe Property, rmvideci 'thnt Borroa•er shall; prior to ncceler- ati
<br /> �• stfon underparagraph 18 �ereof or abandonment of the Property, havc thc right to collect and retain such renta f .= � ;
<br /> v � �'�
<br /> ss tfiey beaome.due gad payable. ` � � �.;
<br /> "` � � `U a��BcaeleraEion under ara � � � � � � ��� ` '`
<br /> P p grsph 18 hereof or itbandonment of the Yroperty. Lender, in person; by ugent ,�y� � r � „
<br /> �" or by �udicialIyrappointeii receiver. shall bc .entitled ,to etrter upon, take possession of and �nanage the Property
<br /> � r snd to collect the rente of the -Property; including Yhose �ast duc. :111 rents collected hy Lendcr or the receiver
<br /> f'�� . shall be applied SrsE to psyment of the coete of management of the Property and collection of rents, including, but
<br /> _ .
<br /> ' ;- not limited to, receiver's fees, premiuma on mceiver's bond< and reasonnble attorney's fces, and then to the su�ns
<br /> � , seCtued by.this Mortgsge. I:ender and the receiver eliall fic liable to account only for thoee rents actunllv received. �
<br />� 3+
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