|
..
<br /> _ . ,
<br /> _ , . r- -�
<br /> � ,'� '" , .
<br /> � .
<br /> � not extend or postpone the' due date ot thc monthly instnlhnents referred to in paragraphs 1 and 2 hereof or
<br /> Q bhange the amount oP such installments.
<br /> 10. Bonower Not Released. Extension of the time for pa,yment or modificution of amortization of the sums
<br /> ? � secured 6ytliis vIortgage granted Uy I.ender to any successor in interest ot Borrower shsll not .operate to release,
<br /> in uny msnner, -the -liability of the original Borro�ver nnd Bon•o�ver'e successors in interest. Lender shall not be
<br /> ,� reguired to commence proceedings against sucl� successor or refuse to extend time for payment or otherwiae modify ` �=
<br /> � � amortization of the sums secured by this \Iortgage by reason of nny demand macle by the originnl Borrower and �
<br /> � Borrower's succesaors in interest. t. .
<br />, � 1L :Forbearaace byLeader Not a Waiver. Any forbearance by Lender in exercising nny right or remedy
<br /> hereunder, or otherwise afforded by applicable law, shall not be n �t�aiver of or preclnde the exercise of any right -'.
<br />:� � or remedy hereunder. The procurement of insurance or the payment of taxes or other liens or charges by Lender ,`..
<br /> ehall no£ be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this Mortgage. ;°
<br /> r 12. Remedies Cumulative. All remedies provided in tl�is illortgage are distinet and cumulstive to any other ; `
<br /> right or remedy under this \�Iortgage or afforded by ln��• m• equi�y, and may be exercised concurrently, independ- '
<br />'� � ently or successively.
<br />� 13. Suceessors �d Aasigas Boun d; Toiat �d Severa l Lia bi li ty; Cap tions. T he co��enan t s a n d a g r e e m e n t s
<br /> i herein contained shall bind , and the rights hereunder shall inure to, thc respective successors and aesigns of Lender
<br />� und Borrower, subject to the provisions o[ paragruph 17 hereof. �ll covenants und agreements of Borrocver ahall _
<br />( be joint and se�•eral. The captions and t�eadings of tt�e paragra�ihs of ttiis tiortguge sce for conrenienee only snd
<br /> j are not to be used to interpret or define tlie provisions liereof.
<br />� 14. Notice. Any notice to Borro�ver pro��ided for in t6i� \Iortgage shall be gi�•en by inailing such notice by :: ,
<br /> j certified mail addressed to Borrower at the Property �ddress stated belo�a• , except for any notice required under '-
<br /> j paragraph 18 hereof to bc given to Borro�ver in the manner I �rcecribed by ap�ilicablc la�v. Any notice provided
<br />� for in this Vlortgage shall be deemed to hace been �i�•en to Bon•oH•er �chen given in the manner designuted herein.
<br /> 3 15. Uniiorm Mortqage; Governing Law: Severability. This fonn of mortgage combines unitorm covenants
<br />� for national use snd non-uniform covenants �vith limited variations by jurisdiction to constitute a uniform secu- ;
<br />� rity instrument covering real property. This \Iortgage shall be governed by the la�v of the jurisdiction in which .
<br />`� the Property is located. In the event that any provision or clause of tliis Vlortgage or the Note conflicts with �'
<br />� applicable law, such conflict shull not affect otl�er provisions of thi� \ Iortguge or the Note �vhich cun be given �
<br />� effect without the conHicting provision, and to this end the ��rovisions of the �Iortgage and the Note are declared ;.
<br />, to be severable. `
<br />� 16. Borrower's Copy. Borrower shall be furnished a conformed copy of this 1�ortgage at the time of execu- ''�
<br /> 3 tion or sfter recordation hereof_ ��
<br /> i 17. Traasier of the Properiy; Assumption. If all or any �iart of the Property or an interest therein is sold `
<br /> i or tranaferred by Borrower without Lender's prior written consent, excluding (a ) the creation of a lien or encum- %'
<br /> i brance subordinate to this Viortgage, ( b) the creation of a purchuse money security interest for household appli- "'
<br />? nnces, (c) s transfer by devise, descent or by operation of la��� upon t.he death of n 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 immediatel}• due anrl payable. Lender shall have waived such �
<br />� option to uccelerste if, prior to the sale or transfer, Lender and t6e person to whom the Property is to be sold or � !
<br />� transferred reach agreement in �vriting thst the credit of such person is satisfactory to Lender and that the interest T ' '�`
<br />� payabie on the sums secured by this viortgage shall be at sucti ratc as Lender shnll request. If Lender has waived W �
<br />� the option to accelerste provided in this paragraph 17 and if Borro�ver's successor in interest has executed a writ- �, ,-
<br />; ten sssumption agreement accepted in writing by I.ender, Lender shall release Borrower from all obligations under t
<br /> i thie Mortgage and the Note. i
<br /> i If Lender exercises such option to accelerute, Lender shall mail Borrower notice of acceleration in accordance �,
<br />� with paragraph 14 hereof. Sucl� noiice sliall pro��ide a period of not less tl�an 30 days from the date the notiee is `
<br />+ mailed within �vhich Borrower inay pay the suius declared clue. If $orrower fails to pay such sutt�s prior to the P �
<br />� expiration of such period, Lender may, �vithout furthcr notice m• rlemand on B'orrower, invoke any remedies per- g
<br />� mitted by paragraph 18 hereof. t
<br />� � NON-U�NIFOR�bS COVENA:�TS. BOI'I'OWCI' RIIC� L@Il(j@1' tlU't�1C'T COVC'I1flllt and agree ns follows : i �
<br />� 18. Aeceleralion; Remedies. Except as pro�•ideil in � nirngra��L 17 hcreof, unon Borrower', breach of any �
<br /> � covenant or agreement of Borro�ver in ihis �fort�n�c. including tl�c rovenants to pay when duc any sums secured r
<br /> by this �lortgage, Lender �vior to accelerntion �I �ali nuiil noticc to Borro�vcr at� �n•o�•idcd in parngraph 14 hereof
<br /> speci[ying: ( 1 ) the breach ; (2) the nction required to cure �ucli breucl� ; 13 ) ti dutc, not Icss than thirty days
<br /> fram the date thc noticc i� mailed to 13orro��'cr, h�' ��'I�icl� .ucli hrcach umst be cured ; and 141 that failurc to curc
<br /> such breach on or before tl�e date specified in the noticc may result in acccleration of the sums secured by this
<br /> i Mortgage and sale of the Property. If the breach is not cured on or beforc the dnte specified in tlic notice, Lender
<br />: � at Lender's option may declsre ull of the suu�s secured by thi. \Iortgagc to bc immediately due and payable
<br /> � without fnrther dema�d and may foreclose this \-fortgage by Judiciul proceeding. I.ender shall be entitled to collect
<br /> � in such proceeding all expenses of forcclosurc , inclu<ling, hut not limited to, coats of docuwentnry evidence, ,
<br /> abstracts and title reports.
<br />:� 19. Boaowez's Right to Reinstate. .\'otK•ithatanding I�ende�'s acceleration of the smns secured by this
<br />'� Mortgage, Borrower shall have the right to have nny proceedinge begun by i.endcr to enforcc ihis �fortgage dis-
<br /> continued at any time prior to e�try of a judgment enforcing this \Iortgage if : lx � Borro�ver pays Lender all
<br />;� aums which would be then due under this \Iortgagc, the iVote and notes securin� Fun�rc ad�•ancee, if any, had no
<br /> E acceleration occurred ; ( b) Borrower cures all breachea of any other co�-ennnts w• x�reements oi Borrower con-
<br />'' tained in this Mortgage ; (c ) Borrower pays all reasonsble ex��enses incurred b�• i.ender in enforcing the covenants
<br /> and agteements ot Borrower contsined in tl�ir �Iort�;uge snd in enturcing I �mlcr'. remedies a, provided in para-
<br /> � graph 18 hereof, including, but not limited to, reasonable attornep'= fee� : and fd ) Borro�cer takes such action as
<br /> Lender may reseonably require to nssure that the lien of this \Iortgagc . Lender's intcrest in the Property and
<br /> Borrower's obligation to pay the sums secured by this \fortgage sl�all cont�nuc unimpuired. Upon such payment ''
<br /> and cure by Borrower, this Mortgage and the obligations secured hereby shall remnin in full force and effect as if , ., K-- F �'
<br /> " no acceleration had occurred. F
<br /> 20; Aaeigameat . of Re�s: Appoia�eat of Raeeiver; Lendez ia Posseasion. as udditional security here- �
<br /> - under, Borrower hereby asaigns to Lender the rents of t6c Pro��ertp, pro��ided that Borro«•er shall, prior to acceler
<br /> - 8tion underparagraph 18 hereof or abandonment of the Property, havc thc right to collect and retain such rents ' 4
<br />" se they become dueand payable. `
<br /> Upon acceleration under paragrapli 18 hereof or. abandonment of the Yroperty . Lender, in person , by agent � � ` r;' ,�,,, -� '
<br />� � orby jndicially apgointed receiverahsli he entitled fo enter upon , take posse�sion of xnd �uanage the Property �.� - , "'�'
<br /> and to ,collect the rents of the Property, including those paet due. All rents collected by Lendcr or t.he recciver "'�` '
<br /> � � ` ahall be spplied firet to payment of'the costa of management of the Property and collecRion of rents, including, but
<br /> ,q not limited to, receiver's fees, premiuma on receiver's bonds and reasonable attorney's feea. und then to the sums
<br /> $ secured by this Mortguge. Lender snd the receiver shall fie linble to account only for those rents nctunlly recei��ec� .
<br /> � _. . , . . ... . . .. .. . . . . . _ �
<br />
|