|
; . _ _ _ . _ r- Y
<br /> 7R,,,� � � 1 � � Q d,�"�..! r.-.� �
<br /> Y l V
<br /> ; not extend or postpone the due: date of tl�e anonthly inst� llments referred to in paragraphs 1 arid 2 hereof or
<br /> j change the. amount of sucli installments.
<br /> � 10. Bonoaver Not Releasad. . Extension oF the time for payment or modification of amortization of the sums > ; :
<br /> J senured by. this .�4ortgage granted �y Lender to any successor in interest of Borrower sha11 not .operate to relesse, � �'' '
<br /> � in sny xiisnner;,the liability of the originsl Borrotver �nd Borrohrcr e successors in: intereat. Lender shall not be �' f � ' �x��`�,�;'
<br /> � � � � � �3, ,� r�,'` �,;
<br /> required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify � K
<br /> amortizatiiori of tbe sums secured by" this \fortgage by reason of uny demand made by the original Borrower and : ` � ���3 "-
<br /> ; Borrower a successore in interest. � ° +;S�'„ ; , ' .�°
<br /> u � S 3
<br /> '( Y` I
<br /> 'j . 11. . Forbearaaee by Leadar Not a Waivez. - Any forbearance by Lender in exercising any right or remedy �` A ,„ r P ;� f � �
<br /> ' hereunder, or otherwise sfforded by npplicable la�v, shull not be a �vai-rer of or preclude the exercise of any right �, � --', _"' � '.
<br /> or remedy hereunder. The procurement of insurance or the payment oF taxes or other liens or char�es by Lender � ' <`
<br /> s8s11 not be s waiver of Lender's right to accelernte the maturity of the indebtedness s�cured by this Mortgsge. �` , � , ` :"� .i
<br /> 12. Reme�es CumulaHve. Afl remedies provided in tliis \iortgage are distinct anci cumulative to any other ;
<br /> right.or remedy un8er this \-Iortgege or afforded hp In«• or cquity , and may bc exercised cbncurrently, independ- t' ' ' '
<br /> i � ; � :
<br /> eatly or succeesively. y. ;
<br /> � 13: Successors tmd Assigas Bound: Joiat �d Several Liability; Captions. The covenants and agreements ` �,
<br /> herein contained shall bind, and the rights l�ereunder shull inurc to, tlic respective successora and assigns of Lender � ' �
<br /> and Bocrower, subject to tlte provisions of paragrapli 17 hereof. All covenunis nnd agreements of Bonower shsll t 5
<br /> .
<br /> .� . be joint nnd several. The captions and Lcadings of the parugrnph� o( this \ tortgugc are for convenience only and �
<br /> areaot £o be used to interpret or define the provision, l�ereof. ?: -
<br /> 14. Notice. Any noticc to Borro�ver provided for in tlii� \Iortgage slinll bc given bv u�ailing such notice by � " �
<br /> certified muil addressed to Borro��•er at the Property Address stated belo«• , except for xny notice required under k ` �� ;
<br /> paragraph 18 l�ereof to be given to Borro�cer in the manner prescribed by applicable law. Any notice provided S ,'� * °
<br /> for in this �fortgage shall be deemed to hare been gi��en to Borro�rer «�Len giveu in t6e inanner designated hereia �, , , ,�;, � �'
<br /> 15. Unitorm Mortgage; Govemiag Law; Severability. Tl�is forni of mortgage combines uniform covenants � = ^� '-`
<br /> for national use and non-uniform covenants with ]imited �•ariations by jurisdiction to constitute a uniform secu- � � �, z %
<br /> rity instrumeait covering real property. 'I'his \Iortgage shall 1>c govcrned by the Iaw of thc jurisdiction in which � ` ':,,�r;
<br /> the Property is located. In tl�e event that any provision or clause oC this \4ortgage or the Note conflicts with �
<br /> upplicable law, such con8ict shall not affect other proeisions of this \Iortgage or the Note which can be given � . ,: , , � " ;
<br /> effect without tlie conflicting provision, and to this end the provisions of the \fortgnge and the Note sre declared # '
<br /> to be severable. f ' � r :
<br /> 16. Boaowei s Copy. Borrower shall be furnisLed a conformed copy of this �fortgage at the time of execu- � . }"' ��z�.
<br /> AY !
<br /> � tion or after recordation hereof. , ` 4 �, �a ��
<br /> 17. Tr�sEez oI the Propezty; Assumption. If all or a�y part of thc Property or an interest therein is sold � 7 , � �, �M
<br /> or transferred by Borrower without Lender's prior written conaent, excluding (a) the creation of a lien or encum- � , , r ;�r*!
<br /> brsnce subordinate to this biortgage, ( b) the creation of a purchasc inoney security interest for houaehold a li- " � "
<br /> PP i � "S'�,�,x%.
<br /> ances, (c) a transfer by devise, descent or by operation of ]ati.- upon the death of a joint tenant or (d) the, grant of �,v}
<br /> aay leasehold interest of three years or less not containing an option to purchase, Lender may, at Lender's option, � ' , �' ';,,;,�°1��
<br /> declare all thesuma securedby this vlortgage to be i�mvediutely duc and payable. Lender shnll l�ave wsived such � , �k +#�r�
<br /> option to accelerate if, prior to the sale or trnnsfer, Lender and tlie person to whom the Property is to be sold or ' " j ;�:,,'+�
<br /> �ri. � .
<br /> tranaferred reach agreement in �vriting tliat the credit of such person is satisfactory to Lender and that the interest � �v,���� ;
<br /> payable on the sams secured by this ylortgage shall be at suci� rate as Lender shall request. If Lender has waived � ;�r,n,d
<br /> the option to accelerate provi3ed in this paragrapli 17 and if Borrower's successor in interest has executed u writ- � �:, �
<br /> ten assumption agreement accepted in writing by 7,ender, Lender shall release Borrower from all obligations under � , t�� ''i"
<br /> this Mortgage and the Note. � �,`� `.
<br /> If Lender exercises sucl� option to accelerate, Lender shalt mail Borrower notice of acceleration in accordanee � , , >s, �;+
<br /> with psragraph I4 hereof. Such notice shall providc ss �ieriod of not less than 30 days from the date the notice is + '
<br /> mailed within which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the :, ' ' ,�
<br /> expiration of such period, Lender may, ���ithout further notice or de�nnnd on Borrower, invoke any remedies per- ; � ° ; �,�
<br /> ri�itted by pacagraph 18 hereof. ,� _
<br /> . . . � . E ti� � >.
<br /> �
<br /> . .. NON-UNIFORDf COVENA2�15. BOl'1'O�V�I• fiIl(I LOIId@i' tUl'tllC'1' COVC31II71t and agree as foilo�vs : � � n
<br /> 16. Aecelsratioa; Remedies. Eacept us proti•idecl in pnragr.ipL 17 hereof, upon Borrower's bresch of any e
<br /> covenant oz agreement of Borrower in this �fortgiige, including tLc covenants lo pay «•hen due any sums secured �
<br /> s
<br /> by this �iortgage, Lender prior to ucceleration �l�all mnil noticc to Borro«•cr as ��ra�•ided in paragraph 14 hereof R
<br /> specifying: ( 1 ) 'the breach ; (2) Lhe action required to cwr sucl� breacli ; ( 3 ) n date, not less tl�an thirty days y
<br /> from the date the notice is wailed to 13orro��•er, b}• �cLich �ucL brcacL must bc cured ; and (4 ) that failure to cure �
<br /> such breach on or before tl�e date specified in tlie notice rouy resuit in acceleration ot tl�e swns secured by thia
<br /> , Mortgage and sale of the Property. If the breach is not cured on or befa•c the date specified in tlie notice, Lender
<br /> at I.ender's option may declare sll of the swns secured by this �Sortgage to he immediately due and payable
<br /> without further demand and may {oreclose tl�is Mortgage by judicial proceeding. Lender ahall he entitled to collect
<br /> in such proceeding all expenses of foreclosure, inclucling, hut not limited to, costs of documentary evidence,
<br /> ubstracts and title reports_
<br /> 19. Borrowar's Hight to Reiaslate. Notw ithstanding Lender's ncceleration of the sams secured by this ,
<br /> Mortgsge,Borrower ehsll have the right to have any proceedings begun by Lendcr to enforcc this Mortgage dis-
<br /> continued at any time prior to entry of a judgment enfazcing this �4ortgage if : (al Borrawer psys I.ender a11
<br /> suma which would be them due under this �Iortgage, thc Note and notes securing Future Ad�•ances, if any, had no
<br /> acceleration occurred ; (b) Borrower cures all breuches of any other co�•enants or agreements of Bonower con-
<br /> taiaed in thie Mortgage; = (c) Borrower pays all rensonnble expensea incurred by T.ender in vnforcing the covenants ' �
<br /> and sgreements of Borrower contained in this \-Iortgnge and in enforcing 7.ender'.s remedies us provided in para-
<br /> graph 18 hereof, including, but not limited to, masonable sttornev`s fee,� ; and (d ) Borrower takes such action as � �
<br /> Lender: may reasonably require to assure that the lien of tl�is \'Iortgage, Lender's interest in the Property and �>:
<br /> $o�wer's obligation.to pay the sums secured by this �4ortgage shnll continuc imimpaired. Upon such payment
<br /> ,. , ' r ' . :
<br /> „ aud cure by;Borrower, this :Mortgsge and the obligation� secured herebp shull remain in full force snd effect as if '°"_""�
<br /> no accelaration hsd occurred. � • � � � � � �
<br /> � 20 Asai�t;' o# .R�afp, Appoiahaent of Reeeiver, Leader ia Posaessioa As additional security here- � _
<br /> ` � under, $orrower hereby"aseign�to I;end�rthe rents of'the Properfy. �rovid�d thnt Borroµe; shall , prior to acceler- '"
<br /> � ntii4n uade `r`,` s '. � " `�
<br /> � � � �p ra�taph I8 hereof or a�andonment:of the Property, havc the riglit to collect and retain such rents
<br /> , ae �ey-�Cpme �ue, and payable_.. � �;?` x:
<br /> ` �Upoa:acceIeration under:paragraptr 18' hereof_vr abandonroeat af tlie YroperGy . Londer, in person, by agent R '�
<br /> , or. by,�udiqislly appointed .receiv�r ,ahali be enCitled to -cnter Upon, take Poss�csion of and mnnage the Property ���""
<br /> aud td� ,,�Qllect ,the renta of .the: Property, ipcludin$, those #�asit d.ue_ All rents collected by Lender or the receiver
<br /> s6s11 bespplied fisa� to payment of the;costs of mansgemenb of'llie Property and collection of rents, including, buL
<br /> nots]imi�ed,to, reoeiver,'s fees; pr'emiuma on receiver°s bonds and"reasonable attorney's fees, and then to the aums
<br /> secureiT by tiiis Mo'itgage. Lender snd the receiver Rhwll hP tiable to aecount only for those rents nctvnlly rccci�•ed . � '
<br /> . .;, : . .:. .... . .;.� ,�„< ,.. ., .:.
<br /> ; . , , � . r .....,..n4E . _ . . .,. . . . _:,., . . . . . , .
<br />
|