|
; , . ; , � Tjn � b . , � � --
<br /> 78—� _ . � .
<br /> � ; not extend or postpone the due date oi the manthly instnll�nenLs referred to in paragraphs 1 und 2 hereof or
<br /> chango the atnounL ot such insta!lme�te.
<br /> ' 10. Borreswer Not Released. �xtension of the time for payn�ent or }nodification of amortization of the sums
<br /> ! secured by this �1ort�uge �ranted by Lender to un,y successor in interest �f Borrower shall not operate to release, ` '
<br /> ; in nny manner, the liabilit.y of'.the originai Borro�ver nnd E3orron=cr's successors in interest. Lender shatl not be �„ .: ' � +`
<br /> � required to commence proeeedings against sucL suece.=sor or refuse to extend time ior payraent �r otherwise modify "''
<br /> amoctization of the surns-secured by this �Iortgagc by reason of any demand made by the original Borrower and � ' � �
<br /> �,` � Borrower's auccessors in intereat. . � . ' z;
<br /> :' } 11.< Forbeazaaee by I.eadez Not a Wmver. , riny Yorbearancc by I.ender in exetcising any right or remedy � ' '
<br /> ; , � hereunder, or othernise afforded b y n p plicuble la�v, shall n o t b e a w a i v e r o f o r p r e c l u d e t h e e x e r c i e e o f a n y r i g h t f;, {
<br /> or remedy hereunder. The procurement of insura��ce or the payment of tsxes or other liens or chnrges by Lender ` ` �
<br /> i aha11 not be a �vaiver of Lender's right to accelernte tlie �natuzity of the indebtedness secured by this Mortgage. �,r ''
<br /> - 'i 12.' Remadies Cumulafivec All remedies provided in t.l�i, \qort�age 3re distinct ssnd cumulative to any other t'' �
<br /> , � right or remedyvnder this liortguge or nfforde�i by la�c or equity, nnd ma�� bc exercieed concurrentlp, independ- }
<br /> entty' or successively. i =
<br /> � 13. Suecessors amd Assigas Bound: Joiat �d Sevezal Liability; Captions. The covennnts and agreements �'
<br /> herein contained shall bind, nnd tl�e rights hereunder ahalt inure to, the respectivc successors and assigns of Lender � -
<br /> i ancl Borrower, subject to t.he provisions of paragrnph 17 liereof. :\ ll covennnt, nnd agreements of Borrower ahall Y:
<br /> be joint and seversi . The captions and headings uf tl�c paragrn�ihs of t6is \lortguge aee for con��enience only and 1
<br /> � are not to be used to interpret or define t�ie provisions hereof.
<br /> 14. Notice. Any noticc to Borrowcr pro�•ided for in [hin \Iortgagc ,hull be gi�•en by mailing such notice by #'
<br /> � certified msil addressed to Borrowcr ut tl�e Yroperty- �ddress stiited belocti� , excert for itny notice required imder }�
<br /> paragraph 18 hereof to be given to Borro�ccr iii thc munncr prescribed by :tpplicuFylc la�v. Any notice provideu� 7
<br /> for in this Jlortgage shall bc deemed to ha�•c becn gi�•en to Borro�cer «•he�: �iven in che manner designated herein. �
<br /> � 15. Uniforai Mortqaye; Goveming S.aw; Severability. This form of �nort�age combines uniform covennnts � �
<br /> for national use und non-uniform covenants �vitl� limited ��ariations by jurisdiction to constitute a uniform secu- � a
<br /> rity instrument covering real property. This \Iortgage shall bc governed by the la�v of the jurisdiction iri which ' `
<br /> the Property is located. In the event that nny provision or clause of this \fortgr�ge or the 1�Tote conflicts with �
<br /> appSicable law, such conflict shall not affect other provisions of this �Iortgage or the Note �vhioh can be given �
<br /> effect without the conflicting provision, and ta this end the provisions of the 31ort�;age and the Note are declared �
<br /> to be aeverable. � 'n
<br /> i 16. Borrower's Copy. Borrowershall be furnished a conformed copy of this Mortgage at the time of execu- b
<br /> tion or after recordation hereof. � �
<br /> � 17. Traasfer of Yhe Pzoperty; Assumption. If all or any part of the Property or an interest therein is sold � , �`.
<br /> or trsnsferred by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encum- ? ��
<br /> brance subordinate to this Mortgage, ( b ) thc cresstion of a purchase money security interest for liousehold appli- � r3
<br /> � ances, (¢) a transfer by devise, descent or by operation of ]a��• upon the death of a joint tenant or (d ) the grant of �
<br /> IN IAL any leasehold interest of three years or less not contnining an option to purchusc, Lender tnay, n.t Lender's option,
<br /> declare all the sums secured by this �lortgsge to be i:iunediately- due and pavuble. 7 ; w
<br /> � r
<br /> ' + r
<br /> � , ., � ` � t��.
<br /> � , il
<br /> •.
<br /> .c •
<br /> Q • � Y.
<br /> :. �. _ �1_.. �� � 'A aL .. AT..L.� . . � • . . �{ �' .:
<br /> If Lender exercises sucli option to accelerate, Lender shull �nail Borrower notice of acceleration in accordance ;j a;
<br /> tvith paragraph 14 hereof. Sucli notice shnll pro��ide a period of not less tlian 30 days from the date the notice is : + �y�s
<br /> :i
<br /> mailed within which Borrower �nay pny the suins declured duc. If Borro«er fails to pay such sums prior to the b �
<br /> ezpiration of such period, Lender may, �cithout. fuMher notice or demand on B'orrower, invoke any remedies per- : � ;
<br /> � : mitted by paragraph 18 hereof.
<br /> � 8 ;
<br /> j NON-UNIFORAL COVENA�15. BOl'1'O\V@I' R31C� L011(�Cl' tIIl'tllE'1' CO�'GtAiIL and agree as follo�vs : �
<br /> � ; 18. Acealeration; Remedies. Eacept us pco�•ided in �iuragr:���h 1 ? hcreof, upon Borrower's breach of any � `
<br /> f covenant or agreement of Borro«�er in this �Iort �nge, ineiuding tl�c covenants to pay �chen due any snms secured
<br /> ; I by this 3lortgage, Lender ��rior to ucccleration shull iu:iil notice to I3orron-cr ns ��ro�•ided in paragraph 14 hereof
<br /> i specifying : ( 1 ) the breach : (2 ) the artion rcquired to cw•c� .ucli brench ; 131 a date , not Icss thun Chirt_y days ;
<br /> from the date thc notice is mniled to Borroi�•cr, b�• ���h�cli .iich hrcach uiust be cured ; and 141 that failure to cure
<br /> such breach on or before the date specified in the notice mu}• result in accclercttion of thc sm�i� secured by this � '
<br /> 21-fortga�e and sale of the Property. If the breach is not cumd or. or beforc thc date specified in tlic notice, Lender �
<br /> �f ,
<br /> r._ at Lenders option may dcclurc all of the sums secured by thi� �tortgage to bc im�nediately due and payable
<br /> f[` without further demand and may fareclosc tl�is \lortgagc b}� judicial proceeding. Lender shxll be cntitled t.o collect �`
<br /> + in such proceeding all expenses of foreclocurc, including, but not liinited to, costs of docuuientary evidence, i
<br /> fi abstracts and title reports.
<br /> t' 19. Boaowor's Right to Reiastate. 1ot«•ith�tanding I,ender's acceleration of the sums secured by this
<br /> Mortgage, Borrower shall hsve tl�e right to ha�-e any proceeding� begun by l.ender to enforcc this Vtortgage dis- r
<br /> �" continued sst nny time prior to entry of a judgment enfo9rcing thi. \[ort�age if : Ia ) Borro�ver pays Lender all t
<br /> suma whicl� would be then due under this JIortgage. thc ATote anci notes sccuring F'uturc Advances, if any, had no
<br /> . � acceleration occurred ; (b) Borrower cures all breaches of nm• other coccnante or ugrcements of Borrower con-
<br /> , �,� tained in this Mortgage ; (c) Borrower pays ssll reasonable ecpense� incurred by T.ender in cnforcing the covenants
<br /> snd agreements of Borrower contained in this \iortga�e and in enforcing i�ender� remedie� ns provided in para-
<br /> graph 18 hereof, including, but not limited to, reusonuble uttorney 'a feea ; :u�d Idl Borrower takes such sction as �
<br /> �rr� Lender may rnasonably require to assure thut thc lien of thie \Iortqngc, Lender's inierest in thc Property und
<br /> Borrower's obligation to pay the sums secured by thi� \fortgafie shnll continue unimpaired . Upon such payment
<br /> and cure by Borrowe;, this Mortgege and the obligations secured liereb}• �hall remain in tull force and effect as if
<br /> t� no acceleration hsd occuned. �^•=""
<br /> r 20. Aadgnmsat of; Reats; Appoinfineat of Reeeiver; Lender in Posaeasion. As ndditional security here- ` ->;
<br /> under Borrower hereb seai i . eu% '
<br /> t . , y gns to Lender the rents of the Propert�•, pro�•ided that Borro�rer shaU, Prior to acceler- �;e -.:
<br /> � ation under paragraph 18 hereof or absndonment of thc Property, havc the right to collect and retsin such rents 1 s�4,:: s �t.
<br /> ` ag they become due and payable. ' . ,� :
<br /> � Upon .acceleration under paragraph 18 hereof or sbundonment of the Yro ert Lender, in � ' '
<br /> _ p y. perso��, Uv agent a
<br /> <<� or by,tjudicislly appo�nted ' receiver`shall .be entitleci to enter upon, tnke p�se�cion of and mamage the Property �-' �
<br /> . �,:,�'c :�13,� '
<br /> - and to coliect t6e rents of the Property, �ncludin� those past due. :�11 rents collecterl hy Lender or the receiver . '.
<br /> `�` " ahall be applied ficst to payment.of the costs of u�anagement of the Property anci collect ion of rents, including, hut
<br /> ^ � not limitied to, ;receiver's fees, premiums on receiver's bonda and reasonnblc �ttorney's fees, and then to the sums
<br /> f _ secured by thie Mortgage. Lender and the receiver shall bc liahle to account only for those rents t�ct.unily recei��ed .
<br /> i .- �
<br /> .�,. , .,. � ..�, . .._ . �.,. . . . .,.., .a .. , .�.,... , .., _,.<. _ . , . �-
<br />
|