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<br /> i not extend or l�ostpone the due date of the montlily instalhnents referred to in pnragraphs 1 and 2 hereof or ,ir
<br /> � change the amount of such installments: a f
<br /> ; l0. Boirower Not Relecsed. - Extension of the time for payment or modification of amortizution of the surns ' ' ``
<br /> , i:
<br /> ; ,; secured by this 1Rortgage grsnted- �y I.ender ta any successor in interest ot Borrower ahall not .operate to release, ; ;. , , 5' �'
<br /> ' in siiy msnner, the liability oi the original Borrower and Borrowei's succesaozs in interest_ I.ender shall not 6e '� . : � *� .
<br /> required to commence proceedings against sucli successor or refuse to extend time for psyment or otherwise modify s ' ' c' ,� ,fy��,�
<br /> = amortiastion of the aums secured by tl�is \Iortgage by reason of nny' demand made by the original Borrower and � °� '
<br /> . , � , ,
<br /> �^ Barrcawer'e auceessors in interest. c r ;` �t �'� r
<br /> � - - -11: Forbearcmce by'I.eader Not a Wmver_ Any forbearance by Lender in exercising any right or remedy � �:'
<br /> �'j hereunder, or otherwise afforded bp applicable laiv, shull not be a �vaiver of or preclude the exerciae of any right t -` ' f s 3i�
<br /> � or remedy hereunder. lhe procurement of insurance or tiie payment ot tsxes or other liens or chargea by Lender - ��t
<br /> ` , �.{ shall not be a waiver of Lender's right to accelerate the rnaturity of the indebtedness, secuned by this Mortgage. ; ,
<br /> j `;,, . 12, Remedies Cuwulative. all remeciies provided in tl�is vIortgage are diatinct and curnulative to any other *;
<br /> ,� � right or remedy under this 1Iortgage or nfforded by la��� ox• eqaiiy, snd inay bc exerr,ieed concurrently; independ- r,;
<br /> ently or successively. � ` < r ��
<br /> � I3. Sueeerssors �d Assigna Bouad: Joiat amd Several Liability; Captions. The covenants and agreements � =
<br /> t` herein contained shall �ind , and the rights hereunder shall inure to, thc recpectivc successors and asaigns of Leader � 'LL
<br /> and Borrower; subject to the pravisions of paragrapii 17 liereof. All covenants and agreements of Borrower ahall � ;.,
<br /> be joint snd several. The captions snd Lcadings of the paragrapl�s of tliis \Iortgage are Sor convenience �nly and � ` ��F>
<br /> arehotto be useci to interpret or define the provisions hereof. °.s
<br /> 14. Notice. Any noticc to Borrowe�r provided for in this \Iortgagc shall bc gi�•en by insiling such notice by { � ' ' %`
<br /> certified mail adtiressed to Borrower at Uie Property Address stated bclow, excepi for uny notice required under � . . � , ;' ,'� E�
<br /> psrngraph 18 hereof to be given to Borro�ver in tl�e �nanner prec�ribed by nppiicable la�v. Any notice, provi�ed r�: `^ x
<br /> for in this J•Lortgage shall be deemed to liacc been given to Borrawer �c6en given in the manner designated lierein. � , "`t`ki����'
<br /> 15. Uniforaa Mortgage; 6overniag Law: 5everability. Tliis form of inortgsge combines uniform co�enants � ' +' -��h�
<br /> tornational use And non-uniform covenants �vitl� limited variations Uy jurisdiction to constitute a uniform seeu- fi' , . ',� L �,,�w3
<br /> rity inatrument eovering real property. '1'his \iortgage shall be gov�rned by the law of the jurisdiction in which � � ` � �,' ��
<br /> the Property is locssted. In the event that any provision or clause of this \Zortgage or the Note conflicts with x.. '�'
<br /> applicable lsw, such canflict shall not affect otl�er provisions of this \Iortgage or the Note which can be given ;; , ' '� &�� .�.�
<br /> effect without the conflictin rovision and to this end the �rovisions of the llort a e and the Note are declared � �"'
<br /> BP , I g � �' f< x ,��f; �a
<br /> � to be severable. � ' s, ,
<br /> 16. Bonowei e Copy. Borrower shall be furx�ished a conformed copy of this D4ortgage st the time of execu- t f � `," �
<br /> �.
<br /> tion or after recordation hereof. ;;, � u �,f' v��`
<br /> 17. Traasfer of the Properiy; Assumption. If all or sny, part of the Property or an interest therein is sold ;� ' , r �. ' `
<br /> or transferred by Borrower tvithout Lender's prior written consent, excluding (a) the creation of a lien or encum- � t= 5� .;� ��yrb
<br /> brance subordinate to this �Iortgage, ( b) the creation of a purehase money security interest for household appli- � Tsrr��;KS^'
<br /> ances, (c) a transfer by devise, descent or by operation of Iss�c upon the death of a joint tenant or (d) the. grant of � ' �` �°� ��y :r
<br /> any leasehold interest of three years or less not containing an option to purr.hase, Lendcr may, nt Lender's optdon, � , . ` EK.,, ,�� ,
<br /> declara all the sums seeured by this Mortgsge to bc immediately due and payabEe. Lender . shall hnve waived such M {�
<br /> option to accelerate if, prior to tlie sale or transfer, Lender aud the person to whom the Property is to be sold or � � '� � ' r{;'-*�s�„ ',
<br /> transferred reacli agreement in �vriting tl�at the credit oi sucl� person is satisfactory to Lender sird that the interest t ' ' � '' `�
<br /> � '..:� payabla on the sumx secured by this Mortgage shall be at sucl� rate as Lender shall reyuest. If Lender has waived � . �� ` ��;�"'
<br /> , . ;j the option to accelerate provi3ed in this paragrapl� 17 a.nd if Borrower's successor in interest lias executed a writ- � " y°`�
<br /> ' . t ten assumption agreement accepted in writin� L- y 7.ender, Lender shall relesse Borrower from all obligatione under s ;�° :
<br /> ; 7 this Mortgage and the Note_ t >:' � 'rr�
<br /> If Lender exercises sueh option to uccelerate, Lender shall ±nail Borrower notice of acceleration in sccordance `'" �,..,
<br /> � with psragraph 14 hereof. Such notice shall provide a period uf not less than 30 days irom the date the notice is � °t��
<br /> mailed within which Sonower may pay the sums declsred due. If Borrower fails to puy such sums prior to the � s �' , '
<br /> ex iration of such eriod Lender ma �vithout further notice or demand on B�orrower invoke an remedies '�o
<br /> P P , Y, , Y Per- � ,
<br /> Y, mitted by paragraph 18 hereof. �, "; ,
<br /> . . . . s ��1;�
<br /> I30N-UNIFORM COVENANTS. BOl'1'OWBl' AilCi LCIICIQ7' PUl't}1@Y COVCI18IIt and agree t�s follows : r ,;
<br /> 18: Acceleration; Remedies. Except us pro�•ided in pnragruj�h 17 liereof, upon Borrower's breach of any K �j.
<br /> covenant or agreement of Borro�ver in this �Iortg�tgc, inclucting tlic covenants to pny when due any sums secured '- *
<br /> by this \?ortgage, Lender ��rior to acceleration sLall nuiil notice to Borro�ver as j�rovided in paragrnph 14 hereof
<br /> specifying: ( 1') the breach ; (2) the action required to cure sucl� breacL ; ( 3 ) a date, not less tlian thirty days ' '
<br /> from the date thc notice is mailed to Borrowcr, b}• ��•Licli Quch t>rcnch inust be cured ; and (4 ) that failurc to cure
<br /> such breach on or before the date specified in the noticc inay result in acceleration ot tl�c sums secured by this ' '�'
<br /> Mortgage and sale of the Property. If ihe breach is not cured on or beforc the date specified in tl�e notice, Lender
<br /> at Lender's option may declare ntl of the sums sewred by this vIortgage to be immediately due and paysble
<br /> ,. = without further demand and may foreclose tliis VIortgnge by judicinl proceeding. Lender sl�all he entitled to collect
<br /> in such proceeding all expenses of foreclosnrc , inclueting, but not li�nited to, costs of documentary evidence,
<br /> abstracts and title reports. f
<br /> � � 19. Bonowar's Right to Reinstate. Nota-ithstanding I.ender� acceleration of the sums secured Uy this
<br /> '� Mortgage, Borrower shall have Llie right to have any proceeciings begun by Lender to enforce this vIortgage dis-
<br /> continued at any time prior to entry of a judgment enfol-cing tl�is Vlortgage it : (al Borrok�er pays Lender all -"
<br /> � ,� suma+which would 6e then due under this \4ortgaqe, the 1\�ote and notes securing Fiiture Advsnces, it any, had no s;
<br /> acceleration occurred ; (b) Borrower curec all breAches of flnp other cocenantc or agreements of Borrower con- ' ''
<br /> h ' Lained in this Mortgage ; (c) Borrower pays ail rensonoble espenses incurred by i,ender in enforcing the covenants .e,
<br /> f � � and agreement8 of Borrower contained in this \tortg��c and in enforcing T.endcr'G remedies ns provided in para-
<br /> i� graph 18 hereof, including, but not limited to, reasonaUle attornep'� fees ; and Id ) Borrower takes such action as
<br /> � �� Lender msy reasoaably require to ussure that the lien of this �fortgagc, Lender's interest in the Property und , '
<br /> „��# Borrower's obligation to pay the sums seaured hy thie �Iortgnge _haA continue unimpaired. Upon such payment �"
<br /> �,' ' end _cu;e byBorrowei, this Mortgage, and the obligations secured l�ereby shull remain in full force and efCect as if -� �"'.: � `
<br /> �,��, no acceleration hsd occu;red. , , 4 , r'
<br /> j „ 20. `Assign�nt of,Rents; Appoiatmsnt of Receiver; Lender ia Possessioa As additionitl security here- � ,� ..�
<br /> ' under, B6rrower` hereby assigns to Lender the rents of the Property. ��ro��ided that Borrower shall, prior to acceler- r * :
<br /> ��_ .ation ,undel� paragraph 18 hereof or abandonmenti of tl�e Property, havc thc rigl�t to collect and retain such rents h y ;" `
<br /> a,; ss theg�becmne due and payable. �,, �
<br /> � �' IIpon�:acceleration .under paragrapli 18` hereof or �fiandonment of the Yroperty, Lender, in person , bv agent �+� : a
<br /> '�w.� o; by�-;udicially `appointed receivea shsil be entitled to enter upon, take possession of nnd inana�e the Property �=wwh _;;, ' x'
<br /> �k"" � and to` collectt6e rents of the ProperLy; including 'those past due. Ail rents collected by Lender or the receiver
<br /> F* ..i shall be spplied.&iat to payment of the coats of management of the Yroperty and collection of rents, including, but
<br /> ' e :� not jlm'lted to� receiver.'s ;fees� premiums on , receiver's lwnds and reasonable attorney'z fees, and then to the sums
<br /> , aeaured by this Mortgage. Lender aad the receiver sGall fie tiable to aceount only for those renta actunlly receic�ed.
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