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<br /> � not extend or postpone the due - datc of tl�e monthl}� instnll�nents referred Eo in paragraphs 1 and 2 hereof or
<br /> £ change the amount of euch - installments. ; , �
<br /> ' j 10. Borrower Not Released. . Extension of the time for payment or modification of umortization oF the sums � � ; t� s , ;
<br /> ; seoured by this \4ortgage granted- Uy Lender to any succesaor in interest of Borrower shall not .operate to release, , ' " , �
<br /> �� in any manner, the liability of the original Borrower und Borrower's successors in interest. Lender shall not , be � ,'� t, , � ` � ,�
<br /> ' required ta commenee proceedings against such successor or refuse to extend time for payment or otherwise modify r ` ' ; �
<br /> Op smortization of the sums secured by tl�is \fortgage by reason of uny demand �nade by the original Borrower and � . ' ' �
<br /> � Borrower's auccessors in intereat. a �
<br /> C� I1. 'Forbear�ce by Leader Not a Waivea Any forbearance by Lender in exerciaing any right or remedy F, ,�
<br /> r-i hereunder, br otherwise ufforded by �pplicable law, shsll not be a w•airer of or preclude the exerciae of any right =
<br /> p or remedy hereunder. The procurement of insurance or t11e payment of taxes or other liens or chargea by Lender °�
<br /> r:
<br /> � shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this Mortgage. � "�i
<br /> 12. Ramedias Cumulative. AIl remedies provided in tl�is \4ortgage are distinct and cumulative to any other � �' F �Y ;
<br /> � right or remedyvnder this \�Iartgage or nfforded by las�• or equiiy, und may bc exercised concurrently, independ- � "
<br /> � ently or successively. S ` '
<br /> ? r` 13: Succeseora �d Assigas Bound; Joint �d Several Liabilit C "�`
<br /> y: aptions. The covenants and agreements >
<br /> � herein contained_ehall bind, and the rights hereunder shall inure to, thc respective successors and assigns of Lender r '
<br /> and Borrower, subject to the provisions of paragrnPl� ] 7 hereof. �111 covenants and agreements of Borrower shall ' ' � ' :
<br /> be joint and several. The captions and lieadings of tlie puragraphs of this \Iortgage are for convenience only and ':
<br /> ;� are not to be uaed to interpret or define the provisions l�ereof. 4 `�`
<br /> 14. Notice. Any notice to Borrower provided for in this \tortgage shall be given by mailing such notice by , �e,
<br /> � certified mail addressed to I3orrower at the Property 2�ddress stated below• , except for any notice required under � ` ` ��
<br /> paragraph 18 hereof to be given to Borrow-er in tl�e inanner prescribed by :ipplicable law. Any notice provided r " �,��`��
<br /> for in this Vlortgage shull be deeined to havc becn given to Borroa•er when �iven in ihe manner designated herein. f ` "
<br /> � �'e
<br /> 15. IIniform Mortgage; Goveming Law; Severability. This fonn of �nortgage combines uniform covenanta �,, ,K*;
<br /> for national use and non-uniform covenants witli limited variations by jurisdiction to constitute u uniform secu- "' i � ,,±:
<br /> rity instrument covering real property. This \Sortgage shnll bc governed by the ]a«• of the jurisdiction in which � , � ��"�i`
<br /> the Property is located. In the event that any provision or clause of this Mortgage or the Note conflicts with � � ^'� ��;
<br /> appiicable law, sucli conflict shall not affect otlier provisions of this \Iortgnge or the Note which cnn be given '- ' � �`
<br /> effect without the conHicting provision, and to this end the provisions of the �Iortgsge and the Note are declared �, ,.�^`v�,4`
<br /> £o be severable. � ;: � �+,��;
<br /> I 16. Borrower's Copy. Borrower shall be furnished a conformed copy of this Mortgage at the time of execu- i ; ; ^�5`�j
<br /> tion or after recordation hereof. ' � " .�
<br /> � 17. Traasfer of the Property; Assumption. If all or any part of the Property or an interest therein is eold � ` x 'r��-`'
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<br /> o r tr ans ferre d by Borrower wi t hou t Len der's prior wri t ten consent, exc lu ding (a) the creation of a lien or encum- t ' x
<br /> brance subordinate to this Mortgsge. ( b) the creation of a purchase money security interest for houaehold appli- & � l��#� �!
<br /> ances, (c) s transfer by devise, descent or by operation of la��- upon the death of a joint tenant or (d) the. grant of �, � � � ;,�;,'-,
<br /> any leasehold interest of three yesrs or less not r.ontaining an option to purchase, Lender may, at Lender's option, ; " ' ,���,�aG
<br /> declare sll the sums secured by this Mortgage to be immediately due and payable. Lender shall have wtsived such � ' '� + . �"� ,�
<br /> option tio accelerate if, prior to the sale or transfer, Lender and the person to whom the Property is to be sold or � �;� '��
<br /> transferred reach agreement in �vriting that the credit of such person is satisfactory to Lender and that the interest �
<br /> payable on the sums secured by this 1lortgage shall be at such ratc as Lender shall request. If Lender has waived , d-�� "�;��
<br /> the option to accelerate provi3ed in this paragrspl� 17 and if Borrower's successor in interest has executed a writ- � ' " �i�'.
<br /> ten sssumptionagreement accepted in writing by Lender, Lender shall release Borrower from atl obligations under K� • ;� e �'�
<br /> t3iia Mortgage and the Note. ° � ! ' �.,` �
<br /> If Lender exercises such option ta uccelerate, Lender shall mnil Borrower notice of acceleration in accordance �` '.'i '� �
<br /> �vith paragraph 14 hereof. Such notice shall provide a period ot not less than 30 days from thc date the notice is � f " �"'
<br /> mailed within which Borrower may pay the sums declared due. If Borro�ver fails to pay sucli sums prior to the K ;" 'r ?'
<br /> e�iration of such period, Lender may, «�ithout further notice or demnnd on B'orrower, invoke any remedies per- k � ^ '�
<br /> mitte3 by paragcaph 18 hereof.
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<br /> Nox-UxiFosM CovExexTs. Boi•rower and Lendei• furtl�er covenant and agi•ec as follo�vs : ' }
<br /> � �;
<br /> 18. Aeeeleration; Remedies. Exce�t as pro�•ided in pairagra��h 17 hcreof, upon Borrower's breach of any � 'r
<br /> covenant or agreement of Borro�cer in this �fortgngc, including tLc covenants to �iay when duc any sums secured
<br /> by this Dlortgage, Lendcr prior to acccleration shall m:ail notice to Borro�vcr as �irovided in paragrapli 14 liereof '�`
<br /> specifying: ( 1 ) the breach ; (2) tl�e netion require<I to curc �uch breacli ; 13) a date, not less than thirty days
<br /> from the date the noticc is mailed to I3orro�ver, b�• �cl�ich �ucl � brench must•bcrul'sci ; _und (4 ) that failure to cure
<br /> such breach on or before the date specified in tl�e noticc inay result ;in racr2el�rinSion �F�;�lic 'smus secured by this ,:.
<br /> Mortgage and sale at the Property. If the breacl� is not cured on oc Uefo,Y�tl're� aate spee`ified in the notice, Lender
<br /> at Lender's option may declarc all of thc suuis secured by this �iortgagef�d _Ire �4nin�etiiately due and payaUle
<br /> without furtherdemand nnd may foreclose this 3lortgnge by judicial proceeding. Lende� shall be entitled to collect
<br /> in sueh proceeding ,all expsnses of foreclosure, inclucling, but not lin�iicd to, costs of docu�nentary evidence,
<br /> abstracta and title re�;orts.
<br /> 19. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this
<br /> Mortgage, Borrower shall have the right to have any proceeding� 1>egun by Lender to enforcc this vfortgage dis-
<br /> continued at any time prior to entry of a judgment enfqTcin� this 1lortgage if: (a) Borro«er pays Lender all
<br /> snms which would be then due under this 1lortgagc, thc Note nnd notes a�urin� Futurc Adcances, if any, had no ' �
<br /> acceleration occurred ; (b) Borrower cures all breaches of any other co�•enants or agreements of Bonower con- � ':
<br /> Esined in this Mortgage ; (c) Borrower pays ull reusonublc expensec incurred b}• i.ender in enforcing the covennnts
<br /> and agreements of Borrower contained in this \1ort�a�e and in enforcin� Lender'. remedies as provided in para- '�
<br /> graph 18 hereof, including, but not. limited to, reasonable attorne�'s iee: : nnd � d ) Borrower takes such action as � ti :
<br /> I.euder may reaeonsbly, require to 'assure that the lien of this \Iortgage, Lender� interest in the Property and " ` . : o+.- 4"
<br /> Borrower's. obli ation to a the sums secumd 6 thLa tlort a e sliall continue unim aired. U on such ' ° '�'
<br /> B P Y Y S B P P Payment
<br /> and cure by;Borrower, this Mortgage snd the obligations secured l�ereby �hall remain in full force and effect as if ��, <� �
<br /> no acceleration had occurred. ;; :. , ,,
<br /> 20 ' Rwgnm�at. o� Roafs, Rppaintment of Receiver; Lendez ia Posseseion. As additional security here- J ` �� ��.
<br /> uade�r, Borrower hereby ase�gns to Leniler'the' rents of tfie Properfy. pro�•ided that Borro�er shall, prior to acceler- - ' ,�'*
<br /> atien underipstagraph 18 6ereof or abandonment of the Property, l�uve thc righ4 to collect and retain such rents {��
<br /> h. � li
<br /> as'they becoine due and payab�I�: `" ,� . �: � � � � � � f�
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<br /> t3pon„goceleratiori under .�ursgrnplx 18 hereof or shsndonment of the , Yroperty, Lender, in person, by agent � .
<br /> _ . �
<br /> o�c',by,judioislly appoiated reqeiver shall be entitled to .enter upon , take posae,osion of and inana�e the Property ' "
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<br /> � snd tq,ct�llect the rents, of' the Property„including ,those< pusL due. �11] rents collecteci liy Lender or the receiver
<br /> ehsll be applied firat to paymenE of the:costs of managementof the Property and collection of rent,, including, hut
<br /> noL Iimited to, receiver's feea, premiums on rnceiver's bonda snd masonnble attorney's fees, and then to the sums
<br /> securedby thie Mortgage. Lender and !he receiver e6all Fie linble to xrcount oniv for thoae rPnta n�ti�ally rrceivrd . �
<br /> ,y. . . . . . � . .
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