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<br /> � � �^`t �""� .
<br /> not extend or post.pone the due date of tlic inontlily instnlhnents referred to in paragraphs 1 and 2 hereof or
<br /> � change the amount of sucl� installme�ts. �
<br /> l0. Bonower Not Released. Extension of the time for pnyment or inodification of an�ortization of the suu�s
<br /> aecured by, this Mortgage'granted by:Lender to any successor in interest of Borrower shall not operate to release, <
<br /> in uny manner, >the lishility of the origin�l Borrower and Borrower's successors in iaterest. Lender shall not be � } , ;`�
<br /> required to comriience proceediags againsC sucl� successor or refuse to estend time for payment or otherwise modify 5
<br /> � amortizsGion otthe sums r�ecured by this �fortgage l�y reason of nny demand made fiy the original Borrower and R tr ;;
<br /> ' . f � Borrower'e successore5n interest. !. ''
<br /> ! � Y1: 'Forbear�ce h I.endez Not a Waiver. An � forbearance b ^ Lender in exercisin an ri ht or remed � {
<br /> ` � � Y 3 3 6 Y 8 Y t :
<br /> � hereunder, or otherwise afforded by applica6le law, shall not be a waiver of ar preclude the exerciae of any right s
<br /> or remedy hereunder. The procurement of insurance or the payment of taxes or other liens or charges by Lender ,��;
<br /> i ''� shall not be s wniver oF Lender's right to accelerate the maturity of the indebtedness secured Uy this Mortgage_ r '
<br /> ' i � YZ: Remedies Cumulative. All rernedies provided in tl�is vIortgage are distinct and cumulative to any other - $
<br /> � a right or remedy under this \Iortgage or nfforaed by la��• or cryuity, and msy bc exe.rcised coneurrently, ineiepend- :
<br /> � e�ly or successivel,y: t r
<br /> 13. Suacessors �d AasicJas Bouad; Joiat �xd Several Liability: Captions. The covennnts and s�reements ;
<br /> i I� herein"contained sha11 bind, and the rights l�ereunder shsll inure to, tlie respective successors and assigas of Lender � Y
<br /> ; and Borrower, subject to the provisions of paragrnph 17 hereof. All covent�nts and agreernents of Borrower ahall
<br /> be 'oint and seversl. The ca tions and l�eadin s of tl�e �ara rn �hs of this \iort a e are for convenience onl and ` `.
<br /> � I P g I g 1 g b Y , �
<br /> sre not to be used to interpret or define the provisions hereof. � t
<br /> 14. Notiee. Any notice to Borrower pro��ided for in this \Iortgage shall be giren by mailing such notice by ` c,+r
<br /> ; .,9 cer ti fie d mai! a d dr esse d t o B o r r o w e r u t t h e P r o p e r t y A d d m s s s t a t e d b c l o w, e x c e p t C o r a n y n o t i c e r e q u i r e d u n d e r � '
<br /> P �
<br /> j paragraph IS hereof to be given to Borro�-er in the manner prescribed by npplicable law. Any notice provided ; rr
<br /> for in this \-Iortgage chall be deemed to havc been given to BorruK•cr when given in the mannee desigc�ated herein. r�- � =�'�`r
<br /> � 15. Unifo� Morlgage; Goveming Law: Severability. This form of inortgage combines uiiiform covenants �* �' N� ,�
<br /> - l for national use and non-uniform covenants �vitli limiteci varintions by jurisdiction to constitute a uniforn� seeu- �` �t�;�;
<br /> % '� rity instrument cowering real property. This \Iortgage shsll bc governed by tl�e Is«• of the jurisdictian in which � � s;
<br /> � - the Property is located. In the event that any provision or clause of this Mortgu�e or the Note conflicts with � - fi ,�' ;
<br /> , . { applicable law, such conAict shall not affect otlier provisions of this \Iortgage or the Note which can be given kF ' s
<br /> � effect without the conflicting provision, and to this end the provisions of the �4ortgage und the Note are declared � r;. , z �,��
<br /> ' 1 � to be sev�rable. Yr ' � `" �
<br /> � 16. Borrower's Copy. Borrower shall be furnished �. contormed copv of this �Iortgage at the time of exeeu- �, , + , r .��,
<br /> , � tion or after recordation hereof. k � �� '�
<br /> 17. Transfez of tlae Property; Asaumptioa. If all or any part of the Property or un interest therein is sold �:' h � �'
<br /> � or transferred by Borrower without Len3er's prior written consent, excludin� (a) the creation of a lien or encum- � t , x�s,'*�
<br /> brsnce subordinate to this Mortga�e, ( b) tl�e creation of a purchase money security interest for household appli- � � tj "�>
<br /> , ances, (c) a trsnsfer by devise, descent or by operation of ]1�c upon the desth of a joint tenant or (d) the. grant of � � s; �-
<br /> , � any lessehold interest of three years or tess not containin� an optiun to purchnse, Lender may, at Lender's option, ti :
<br /> declare sll the sums secured by this btortgage to be imu�ediately due and payable. Lender shall have wsived such �- ,, ; "- ,��T,���
<br /> option to accelerate if, prior to tl�e sale or transfer, Lender and tlie person to wliom the Property is to be aold or � . " n � ���` �
<br /> � transferred reach agreen�ent in writing tl��t the credit of such person is satisfactory to Lender and that the interest �' + � , { ,� +� -
<br /> � payable on the sums secured by this Mortgagc sl�all be at sucl� ratc as Lender shall request. If Lender has waived � �'`'
<br /> the opiion to accelerate provided in this paragmph 17 and if Borrower's successor in interest has executed a writ- � `��'�
<br /> teaessumption sgreement accepted in writing by I.ender, Lender shall release Borrower irom sll obligations under 's' ���
<br /> thie Mortgage and the Note. � `� �,y,
<br /> If Lender exercises suci� option to accelerate, Lender shall �nail Borrower notice of acceleration in accordance ; "" •'a
<br /> �vitli paragraph 14 hereof. Such noticc s6s11 provide a period of not less than 30 days from the date the notice is �
<br /> :' :i mailed within which Borrower may �ay the sums declared due. If Borrower fai]s to pay such sums prior to the �; ; r 5 �
<br /> 1 expiration of such period, Lender may, �vithout further noticc or demsnd on Borrower, invoke any remedies per- �
<br /> mitted by psragraph 18 hereof. * F b �
<br /> � , J ;,�
<br /> t
<br /> Nox-UxiFos.rz CovExwxTs. Borro�cer and Lender further covennnt and agree t�s follows : y „
<br /> s�.+,
<br /> 18. Aceeleratioa; Remedies. Except as proi•iclect in paragra�il� 17 I�ereof, upon Borrower's breach of any ; ,{n�
<br /> ' covenant or sgreement o[ Borroa•er in this `Iortgngc, including [I�c covenunts to pay when due any sums secured e
<br /> by this �lortgage, Leader prior to accelerntion �hall wuil notice to Borro�vcr as provided in paragrapl� 14 hereof z +:;`
<br /> specitying: ( 1 ) the breach ; (2) the nction required to cure sucli brench ; 13 ) a datc, not less tt�an thirty days ;x
<br /> , ,, from the date the notice is mailed to I3orrotiver, bp ��•hicL eucli biraeh must be cured ; and (4 ) that failure to cure
<br /> such bresch on or before tl�e date specified in the notice �u�y result in acceleration o[ U�e suins secured by this t
<br /> Mortgage and sale of the Property. If the brencli is not cured on or before tlie date specified in the notice, Lender
<br /> at Lender's option may declam all of thc su�us secured Uy this �Iortgagc to be immediately due end payable
<br /> without further demand and may foreclose tliis �4ortgage by judicial proceeding. Lender shall be entitled to collect
<br /> in such proceedin� sll expenses of foreclosurc, including, but not li�nited to, costs of docu�nentary evidence,
<br /> abstracts and title reports.
<br /> 19. Bonower's Right to Reinstate. Notwithstanding I.ender's ucceleration of the sumc secured by this
<br /> Mortgage, Borrower ahall have the right to have any proceedings begun by Lender to enforcc this VLortgage dis- A
<br /> continued at any time prior to entry of a judgment enfo7�cing this 14ortgage if : (al Borrower pays Lender all � i,
<br /> � � sums which would be then due under this �Iortgage, tl�c Note nnd notes securing Future Advances, if any, had no •�
<br /> ' '' acceleration' occurred ; (b) Borrower cures n,ll breache� of nny other co�•ennnts or agreements of Borrower con- �,'
<br /> , ; ;j tained inthisMortgage ; (c) Borrowerpays all masonublc espenses incurred bp I.ender in enforcing the covenants
<br /> and sgreements of Borrower contained in this :�Iortga};c snd iu enforcing I.endcr's retnedies as pro�•ided in pam- "
<br /> ` �'j graph I8 hereof, 'including, but not limited to, rensonnble nttorney'e fees : and fdl Borrower takes such action as ;
<br /> � (Lender may reasonably require to aseure that the lien of this �Iortgagc, Lender's interest in the Property and ; '
<br /> ' � ` Borrower's obligation to pay the auma secured hy this �Sort�nge shall cont.inue unimpaired . Upon such payment � � '' '' ,
<br /> `�`.� � �and cure by Borrower, �his Mortgage and the obligations secured hereb�• Fhall remain in full force ond effect as if ,.�.�.� `
<br /> �a no accelesation had occurred. `y
<br /> '`' 20 ' Rssigam�at ot•:$sab: Appointment of Receiver. Lender ia Possessioa. As additional security here- � ; r ;s
<br /> • ,pndera Box�ower hereby aseigne to;I:ender tl�e rehts of the Propert.y. prot�ided that Borcon•er shall, prior to acceler- ` �,�� � ;
<br /> �: ' ation uniler paragraph 18;hereof or abandonment of the Property, hsvc the right to collect and retain auch rents . , ,w��
<br /> ae they'z!Eiecome,due aad paysble. . , r' - �
<br /> j , � wUpolY�seceleration under paragrsph 18'� hereof orabandonment of the Yroperty, Lender, in person, by agent i;,��'" � t ';
<br /> x ' or,by'j�dioiaily 'sppointed receiver shall be entitled to enter upon, take posession oE and manage the Property ''�;r:.•� ;:
<br /> "f,, snd',toa.colleot the re:its, o£ the Pro rt . *
<br /> pe j*,. includinQ 'those past due. All rents collected bv Lendcr or thc receiver
<br /> ,":,� isKsll be';spplied�finsQtopeyment of the coets .of mansgement of the Property and collection of rcnts, including, hut `
<br /> 'j� not limited to, receiver's fees, premiums on,receiver's Uonde and reasonnble attorney's fees, ssnd then to the sums
<br /> � secured by thie Mortgsge:Lender aad the receiver shall tie linble to account only for those rents xetunlly recei�•ed.
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