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,�. �5 .� �
<br /> � not extend or. postpone the due date oi thc monthlyy installments reSerred to in p�rngraphs 1 and 2 hereoE or '
<br /> change _the amount oF such' instaltments.
<br /> 10. - Bonotver Not Released. Extension of the time [or payment or inodificatian of amortization of the sums , ,`
<br /> secvred by this Mortgage gronted bg Lender to nny sticcessor in interest of Borrotiver shall not .operate to release, � +,s;
<br /> in �ny 'manner, tlie liability of the original Borro�ver and Bori•owr,r's sucoessors in interest. Lender shail not be �.s
<br /> � required';to commence proceedings against sur.h sucr,essor or refusc to extend time for gssyment or othernise modify � );
<br /> , smortization of the sums securedby tl�is \fortgage by Tease�n of am• demanci made by the original Borrower and , ��
<br /> . �
<br /> Borrower's successsors in interest. . . + �
<br /> .� (,Q 11. 'Forbe�aace by Lender Not a Waiv�n - Any forbearance by Lender in exercising any right or remedy �"� ' " t * ^` d.
<br /> �� � hereunder, orotherwise sfforded by applicable la��•, shnll not iie a �vai�er of or preclude the exerciae of any right g , , xn
<br /> ;� � or remedy l�ereunder. The procurement of insurance or the payment of taxes or other liens or charges by Lender E ` %
<br /> ' r-�i shall 'not be a ivAiver of Lender's right to accelerate the maturity ' of the indebtedness secured Uy this Mortgage. �' � ^ '' �
<br /> �` Q 12. Hemedies Cumulative. All remedies provided in this \4ortgage are distinct and cumulative to any other i ? � � '
<br /> ;' ;� right or: remedy `under this ��Iortgage or afforcied by lau� or equity, ancl may bc exercised concurrentlw, independ- r` - '' ::
<br /> � r� +,
<br /> ently or euceessively � . �;
<br /> � 13. Successozs �d Asaigas Bound; Joiat �d Severel Liability; Captians. The covenants and agreements 6 , i
<br /> � herein contained ahall bind, und thc rights hereunder shull inure to, the reapectivc successors and assigns of I.ender 6 '
<br /> and Borrower, subject to the provisions of paragraph 17 hereof. All covenant� and agreements of Borrower shalt `� , , _;
<br /> , � be joint and several. The captions and I�eadings of t6e paragraphs of this \Iortgagc are for convenience only and (
<br /> are npE'to be used to interpret or define the provisions }iereof. � "�
<br /> � 14. Notiee. Any notice to Borrower pro�•ided for in thia \lortgage shall hc gieen by mailing such notice by � j � `
<br /> certified inail addressed to Borrower ut the Property Address stated belo��•, except for e�ny notice required under � ; f�`
<br /> pa r sgr u p h 1 8 hereo f to be given to Borrow•er in t lie manncr pre,cr•i bed by ap� �lica Ule In�v. Any notice provided �'� < <'
<br /> for in this _l�Iort a e shall be deerneci to have �een �ven to $orrower �vhen g '";:
<br /> B B g given in the manner desi natecl herein. �` �'�-
<br /> 13. Uniform Mortgage; Governiaq Law; Severability. T'his forn� of �nortgage combines uniform covenanta �: � fy ` � �
<br /> for national use nnd non-uniform covenants �vitt� limited �•ariations by jurisdiction to constitute a uniform aecu- � �.
<br /> rity instru:nent covering real property. This \Iortgage shall be governed by the ]a�c of the jurisdiction in which ��'i � « '
<br /> � � � the Pro ert is located. In the event that an ' ' � � �" � � ' �,��
<br /> p y y provision or clauae of this il4ortgage or the Note conflicts with ��` ,��r ��
<br /> applicable. law, sucfi con8ict shall not mffect otl�er provisions oF this \Iortga�;e or the Note which can be given +
<br /> � � „
<br /> � effect without the eonflicting provision, and to this end the provisions of the tiortgage snd the Note are declared i �;:
<br /> to be aeverable. r ' r ��r,
<br /> 16. Borroweis Capy. Borrowershall be furnisl�ed a conformed copy of this Dlortgage at the time of execu- �,�. � ;� � ,�� a'
<br /> tion or after recordation hereoF. s;
<br /> 17. Tras�sfer of the Property; Assumpfion. IE all or any part of the Property or an interest therein is sold � `;, ����*'
<br /> or transferred by Borrower without Lender's prior �vritten consent, excluding (a) the creation of a lien or encum- Y?' ' =� ' +�ta;�
<br /> brance subordinate to this Mort a e b the ereation of a y y pp � "'�"�x
<br /> g g , ( ) purchusc mone securit interest for household s li- t < ws' �*,�
<br /> ancea, (c) a transfer by devise, descent or by operation of In«• upon tl�e death of a joint tenant or (d ) the. grant of +n�{?K:
<br /> any leasehold interest of three years or less not containing an option to purrhase, Lender may, at Lender's option, 4 ', ' � '��
<br /> declsre all the sums secured by this Mortgage to be iininediatel� due anc! payable. Lender shall l�ave waived such ; ;; ` �
<br /> option to accelerate if, prior to tl�e sale or transfer, Lender aiid tlm person to �vLom the ProperLy is to be sold or � � '.,' � 't> 's� :'
<br /> transferred reacl� agreement in writin� thut the credit of such person is cIItisfactory to Lender and that tl�e interest 3• ' x 4 • �`31��,
<br /> ` payable on the sums �ecured by this Mortgage shall be at sucl� rate as Lender shull request. If Lender l�as waived � ,,;
<br /> the option to accelerate provided in this parsgrapli 17 and if Borrower's successor in inierest Las executed a writ- �� � T�, G F�
<br /> ten assumption agreement accepted in writing by I.ender, Lender shall release Borrower from ail obligations under �' `A `; �a'�
<br /> this Mortgage and the Note. , . a�
<br /> 3f Lender exercises sucli option to accelerate, Lender shall ±nnil Borrower notice of acceleration in accordance {' , j �;�
<br /> tvith paragraph 14 hereof. Sueh notice shall provide a period of not less than 30 days from the date the notice is �' >"�
<br /> ' �.
<br /> , � mailed within which Borrower may pay the sums declared due. If Borrower fsils to pay such sums prior to the ;� ;:
<br /> expiration of such period, Lender may, without further notice or demand on Burrower, invoke any remedies per- ; ?• u
<br /> �;� mitted by paragraph 18 hereof. ' r
<br /> s' <
<br /> L � Y
<br /> � ' NON-LTNIFORM CovsxwxTs. � Borrower and Lender turtl�er covenant and agree as follows • 'r ���'-
<br /> t, !
<br /> � : 18. Aeeeleration; Remedies. Except ns pro�•ided in ��arngrapL 17 hereof, upon Borrower's breaeh of anp '
<br /> � covenant or agreement of Borro«�er in this `fortgnge, including tl�c covenants to pay �vhen due any sums secured �� '
<br /> ,�a ; by tFiis \3ortgage, Lender �irior to acceleration shall �naii! noticc to Borro��•cr as provided in �aragraph 14 hereof r
<br /> „ specifying: ( 1 ) the breach ; (2) the �ction required to cm•c sucl� breach ; 13 ) u datc, not less than thirty days � ;
<br /> : irom the date the notice is mailed to Borro�ver, b�• ��•l�ich eucli brcach iuust be ew•ed ; and (4 ) that failure to cure
<br /> � � such breach on or before the date specified in tlie noticc may result in accelerstion of ti�c suu�s secured by this ' ;",
<br /> , r blortgage and sale of the Property. If tlie breach is not cured on or before the date apecified in the notice, Lender
<br /> ' € at Lender's option msy declare nll of the sums secured by this �fortgage to be immediately due and payable
<br /> ' � � without further demsnd and may foreclose this yiortgnge by judicial proceeding. Lender shall be entitlecl to collect
<br /> � in sych proceeding all expenses of foreclosurc, including, but not limited to, costs ot documentary evidence, _
<br /> abstracts and title reports. ��
<br /> _ � 19. Borrower's Hight to Reinstate. ,\Totwithstanding I.ender's ucceleration of the sums secured by Y.his ` .'
<br /> ' ; Mortgage, Borrower shall have the right to have uny proceedings begun by Lendcr to en[orce this viortgage dis- ;�
<br /> „� continued et any time prior tio entry of a judgment enforcing this \iortgage if : (u ) Borrower pays Lender all
<br /> aums which would be then due under this �Iortgage, thc Note and notes securing Future Advances, if any, had no �;.
<br /> �� acceleration occuned ; (b) Bortower cures all hreaches of any other covenlnts or agrnements of Borrower con- ,, ,�'
<br /> tained in this Mortgage ; (c) Borrower pays all reasonablc ex��enses incuned bp 7,ender in enforcing the covenanta
<br /> ^'� and agreementa of Borrower contained in this JLort�age and in entorcing I,ender's remedies as provided in para-
<br /> -� gieph 18 hereof, including, but not limited to, reasonsblc nttorney'c fee� ; nnd ( dl Borrower takes such action a.g
<br /> , , l.ender, may reaeonably require to assure thst the lien of this �Iortgage, Lender� interest in the Property and
<br /> Borrower's obligation to pay the sums secured by thic 1lortgage shail continue unimpaired. Upon such �a,yment � � `
<br /> and evre by Borrower, this Mortgage and the obligations secured liereby ehall reinain in full force and effect as if -
<br /> no acceleration had occurred. � �
<br /> Z0. Asagaaiont. o!. R�ats; Appoiatmeat of Receiver, Lendar ia Possessioa As sdditionsl security here- ��' , , ,��
<br /> uqder, Borrower tie'reby aseigns to Lender the rents of the Propert�•, provided tliat Borro�rer ahall, prior to acceler s.£" ' ri.
<br /> ation under paTagraph 18 hereof or absndonment of the Property, have the right to collect and retain such rents J �; ' � :
<br /> as tfiey become due and payable. - , �. �#� ��;:
<br /> � ITpon�BeqeIera£ion under paragraph .l8 hereof or`abandonment of the Yropeft.y, Lender, in person, by agent ��:,; � $ �:
<br /> or� by �udioislly„appmnted receiver. shall be entitled .to enter.: upon, take possession of and �nanage the Property �',; , > :
<br /> and Co qolleaG the ;eats of, the Property,. including:those past : due. All rents collected by Lender or tl�e receiver -u.?«.""� ;w� = ' ;
<br /> y,. , etistl be:appked:fissti to payment:of the coets of management of tl�e Property and wllection of rents, including, but
<br /> not iimited to, reCeiver's fees, �remiums on receiver's lwndr and reasonable attorney's iees. and then to the sums
<br /> �� aecured by this Mortgage. Lender. and the receiver shali 6e linble to account only for those rents actualiy recei�•ed.
<br /> :3 � �. . . � . . � . .
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