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f. �
<br /> : . .^; �"''r .
<br /> ; not extend or postpone the due date of the tnonthly instnllments referred to in paragraphs 1 and 2 hereof or �
<br /> ; change the amount of sucl: instaillments. °
<br /> �� � I0. • Sorrower No! Released. Fvctension of the timc for pa,yment or modificntion o{ amortization of the aums
<br /> ' { secured' by this''_Nlortgage granted by Lender to any successor in interest of Borrower shall not operate to release, 14{
<br /> � in nny'msnner, 'the :lia8ility of tlie original Borro�ver nnd Borron•ei's successors in interest: Lender shall not be
<br /> ( required:to eommence proceedings sgainst sucli successor or refuse to extend time for payment or otherwise modify °,
<br /> o �
<br /> � amortization of the aums secured Uy this �fortgnge by reason of any demand made by the original Borrower and , i ,.�
<br /> Borrower's successora in interest.
<br /> �� '1'1': iForbearm�ce by Leader Not a Wmver. Any forbearance by Lender in exercising rany right or remedp ` �
<br /> hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude tlie exercise of any right �
<br /> *'i or remedy hereunder. The procurement of insurance or the payment of taxes or other Iiens or charges by Lender
<br /> ', '� � shall `not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br /> t, Q� 12. Remedies Cumulalive. All remedies provided in this �4ortgage are distinct and eumulative to any other
<br /> f *-i right or Temedy under this \�Iortgage or afforded bv law or equicy, and ma5- bc exercised concurrently, independ-
<br /> , :� O'- ently or successively.
<br /> � � 13. Suecessozs �d Xssiqas Bouad; Joint �d Sevezal Liability; Captions. The covenants and agreements
<br /> herein contained shalI bind, and the rights liereunder shull inure to, the respectivc successors and usaigns of Lender J '
<br /> � � nnd Borrower, subject to the provisians of paragrnpL 17 hereof. :111 covenants and agreements of Borrower shalI � , -
<br /> j t� be joint and sever3l. The esptions and l�cadings of tLe paragrnpiis of tliis 3Iortgage are for convenience only and > �
<br /> { are not to be used to interpret or define tl�e provisions l�ereof. , ' ,
<br /> 14. Notiee. Any notice to Borro�ver pro�•ided for in thi� \lor[gage shall bc gi�•en by maiIing such notice by ` ' � � �
<br /> � j certified �nail addressed to Borrower at the Property �lddress stated bclo�r, except for ssny notice required under `�;
<br /> � paragraph IS hereof to be given to Borro�cer in thc manner prescribed bv :tpplicable law. Any notice provided r� , �,7;
<br /> , � for in this �4ort s �e shall be deemed to have Ueen �, t{* _
<br /> g �, given to Borrow•er when gi��en in the manner designated herein. . .
<br /> 15. Uaifozm Mortgage; Govemiag Law; Severability. This forni of mortgage combines uniform covens�nts 3 `' ' `
<br /> � �"
<br /> for national use ttnd non-uniform covenants �vith limited �•ariations by jurisdiction to constitute a uniform secu- �: 5 ;*`;
<br /> � rity instrument covering real property. This \iortgage shull bc governed by the la«• of the jurisdiction in which n � � ` s '
<br /> � ' the Property is located. In the event that any hrovision or clause of this ,fort�age or the Note conflicts with �°
<br /> applicable law, such conflict shall not nffect other provisions of this Jlortgsge or the Note which cun be given �+ � •`
<br /> 3 effect without the conflicting provision, and to this end the provisions of the Viortgage and the Note are declared �� �- sr � �
<br /> � to be severable. � " :
<br /> 16. Bozrower s Copy. Borrower shall be furnished a conformed copy of this \Zortgage at the time of execu- �� ` �,;
<br /> tion or after recordation hereof. � ` ' �
<br /> 17. Tr�sfer of the Pro ` -���`'
<br /> perty; Assumption. If ali or any part of the Property or an interest therein ie eold � t. s
<br /> or transfened by Borrower without Lender's prior written consent, excluding (a ) the creation of a lien or encum- � ' ' r �TM�"'
<br /> brance subordinate to this Mortgage, ( b) the creation of a purchase money security interest for household appli- x�: �Fv ��,�
<br /> � ances, (c) a transfer by devise, descent or by operation of Ia«• upon the death of u joint tenant or (d) the. grant of � : '.' ' t�,.�
<br /> any leasehold interest of three yesrs or lesc not containing an option to purchsse, Lender may, st Lender's option, F ' � ,�„�,��
<br /> declare all the sums secured by this viortgage to be immediately due and payable. Lender shall have waived such s` x;'- ��' �.
<br /> option to accelerate if, prior to tl�e sale or transfer, Lender and tl�e person to whom the Property is to be soid or i , ` � -�v.
<br /> transferred reacl� agreement in writing tl�at the cre�iit of such person is satisfactory to Lender and that the interest � ' `�: ,���
<br /> payabie on the sums secured by this Mortgage shall be at such rnte as Lender shall request. If Lender hss waived < �: �'�
<br /> the option to accelerate provided in �his paragrapli 17 and if Borrower's successor in interest has executed a writ- s ': ` +,����:
<br /> ten assumption agreement accepted in writing by Lender, Lender shall release Borrower from all obligations under ° � �"-
<br /> thia Mortgage and the Note. � ` �>�`:
<br /> . �` If Lender exercises sucli option to acceterate, Lender shn.11 !nail Borrower notice of scceleration in accordsnce ". �s t4+ �,'r
<br /> � witl� paragraph 14 hereof. Such notice shall provide a period of not ]ess than 30 dsys from the date tlie notice is � �'
<br /> mailed within which Borrower msy pay the sums declared due. If Borrower tails to pay such sums prior to the �. �
<br /> if expiration of such period, Lender may, «•ithout further notice or �lemand on B'orrow•er, invoke any remedies per- � ` `, `��t,
<br /> '� mitted by paragraph 18 hereof. � ', - _
<br /> � , ` y� �f:
<br /> �� � � `TON-UNIFORM CovEx.►xxs. Borrower and Lender furtl�er covenant and agree as follows : r
<br /> ' IS_ Aeceleratioa; Remedies. Except as pro�•ided in paragra�iL 17 l�ereof, upon Borrower's breach of ony �
<br /> covenant or agreement of Borrower in this �fort�age, including tlw covensnts to pay wlien due uny sums secured � ' �
<br /> by this �Iortgage, Lender f�rior to accelerntion shalf �ui�il notice to Borro���cr as ��rovided in paragraph 14 Uereof t `
<br /> specifying: '( 1 } the breach ; (2) tl�e nction reywreci _t� cure xueli breach ; (3 ) a datc, not less tl�an thirty days
<br /> from the date thc noticc is mailed to I3orro�t�er, l�y -�4liiolrsucli'h1•encl� tuust Ue cured ,• and (41 thnt failurc to cure
<br /> �� such bresch on or before tl�e date specified in .tl�e .nofice'�n�.y result in acceleration of the sums secured by this -
<br /> Mortgage and sale of the Property. If the brescir is �sot cured on or before the date speaified in tLe notice, Lender
<br /> � at Lender's option inay declare all of the sums secured by thi, �lortgnge to be iminediately due and payable
<br /> without further demand and may foreclose tl�is �4ortgagc by judicial proceeding. Lender ahall he entitled to collect
<br /> in such proceeding all expenses of toreclosurc, including, but not limited to, costs of docurnentary evidence,
<br /> abstracts and title reports.
<br /> 19. Bor;ower's Right to Reiastate. Notµ�ithstanding Lender: accelerstion of the sumc secured by this
<br /> MorEgage, Borrower shail have the right to have any proceedings begun by Lender to enforcc thi� �Iortgage dis-
<br /> continued at any time prior to entry of a judgment enfoTcing this 1Iortgage if : (al Borrower pays L.ender a1l
<br /> sume wbich would be then due under this �Iortgage, tl�e Note nnd notes securing Futum Advance,c, if any, had no �;
<br /> acceleratiosoccurred ; (b) Borrower cures oll breaches of any otl�er cocen�rits or agreements of Borrower con-
<br /> � tained in this Mortgage; (c) Borrower pays a13 reasonaUle espenses incurred by Lender in unforcing the covenants
<br /> ° and agreements of Borrower contained in this \iortgsge snd iu enEorcing I,enaler:� retnediea as provided in psra- � x„
<br /> � <� graph 18 hereof, including, buti not limited to, ressonaUle attorney'� feee : and !d ) Borrower takes such sction as :
<br /> ,� I:eader may reseonably ;equire to asaure that the lien of this \fortgage, Lender's interest in the Property and s , , r j >;
<br /> Borrower'e obligetion to pay the sums secured hy this �4ortgagc shall continuc unimpnired. Upon such payment ��,,,,,� ,�,�
<br /> ue;� and'cure 'by Borrower, this Mortgsge and the obligations secured hereb�• shall remain in full force gnd effect as if t
<br /> no acaeleration had occurred. =+
<br /> ` 2Q ,>Aaai `j
<br /> gnm�nt of 8�ab; Appom�eni > af Roceiver, Leader ia Possession. �1s. additionul security here- 1- F
<br /> urider, Boriowei here � ,
<br /> by ase:gns to Lendtr the. rents of thc Propertp. provided that Bonower shall , prior to acceler- � �a ,: , '
<br /> sEson un$er parsgraph 1& hereof or abandonx�nt of the Property, havc the right to collect and retain such rents �H ' `
<br /> s8 they beoome clue'snd paysble.
<br /> ,� ' , ; ; Llpoat:�Cceleration vnder paragrsph 18 herlbf or>sbandonment of the Yroperty, Lender, in person, by agent �x�1�' , � r
<br /> � a.�.,.���A„� GY� .: � .
<br /> . or byyndicislly appointed reaeiver 'shsll be 'ent�tled to enter upon , take pos�sion of and tnanage the Property ,;
<br /> „�" and to 'c'olieCt the rents of,.the. Psoperty, includinQ those past due: All rents collectecl by 1.ender or the recciver `
<br /> 3� ehaU be; sppliet� fiist to'paymeat of the coets,ot inansgemenE of tl�e Property and collection of rents, including, but
<br /> ! '� not limited to, regeiver's feea, premiums on mceiver's bonda and reasonable attorney's fees, and then to the sums
<br /> seoured by this Mortgage. Lender and the receiver shalt he 1iu61e to account onl,v for ihose rents actu�ily recei��ed. �
<br /> ,� .
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