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<br /> � - Ta`�'°� r-�",
<br /> ; : . .
<br /> � not e�ctend or poatpone the due date uE thc inontlily instnlhnents refcrred to in paragraphs 1 and 2 hereof or
<br /> change the amount o[ such installments,
<br /> ' lU. Borrower Not Released. Extension af the time for payn�ent �r modificntion of ainortization of the aume r 4y,
<br /> . ii secured by this-Mortgage granted by Leader to any successor in interest of Borrower shall not operate to release, , � �
<br /> .; I in any manner, the liability of the original Borrower und Borrower's successors in interesG. I.ender shall not be �
<br /> � required to commence �rocee�3ings against sucli successor or refuse to extend time for payment or otherwise modify �,
<br /> amortization of the sums secured by tliis \lortgage by reason of any deroand inade by the original Borrotver and ; r
<br /> Borrower's successors in intereat. � " , =
<br /> 11. Forbe��mce by Lender Not a Waiver. Any forbearance by Lender in exercisin� any right or remedy '' "
<br /> � hereunder, or otherwise sfforded by applicable Iaa•, shall not be n waiver of or preclude the exercise of any right � ':• ' � , �z
<br /> � or remedy hereunder. The procurement of insursnce or the psyment of tuxes or other liens or chsrges by Lender �' ' 'e:.
<br /> E�" shall not be a waiver oi LendeT's right to accelersste the maturity of the indebtedness securecl by this �4ortgnge. � s
<br /> �' 1Z Remedies Cumulative. All reinedies provided in this \lortga�e arc distinct and cumulative to any other 1"
<br /> t; w right or' remedy under this 3lortgage or afforcicd b,v �a�c or equity, and may be exercised concurren 'tly, independ- '•
<br /> j — ently or successively. �,� ;
<br /> 13. Sueeessors and Assigns Bouad; Joint �ad Several Liability; Captians. The co��ennnts ancl agreements �
<br /> �'
<br /> ? { herein eontained shall bind, and the rights I�ereunder �hall inure to, thc respective successors and assigns of Lender "'
<br /> � � and Borrower, suMject to the provisions oi �iaragraph 17 hereof. :1ll covenants und agrecments of Barrower shall i,'^ '
<br /> ' be joint and severul. The captions and lieadings of [he pnragrnphs of this \ Iortgage are for convenience only anci � >
<br /> s ure not W be used to interpret or define the pro��icion� hereof. [r
<br /> 14. Notice. Any notice to Borron•er pro�•ided for in this \Iortgnge shall be gi�•en by �nniting such notice by C .
<br /> � � certified mail addressed to Borrower at the Yropert�- Addre,s ,tated bclo«• , except for uny notice required under ��' ' � '
<br /> S parugraph 18 hereof to be given to Borro�cer in the �nanner �ii•e�cribed by ap�ilicuble la�c . Any notice provided ` ' + <
<br /> � Cor in this �Iortgage shall be deemed to ha�•e been gicen to Borro�cer �vhen gi�•en in the manner designat.ed herein. �,: , '•a
<br /> i I5. Uniloraa Mortgege; Goveming Law: Severability. "fhis fonn of morkgage combines uniform covenants xs r �,
<br /> E for national use and non-uniform covenants �vith Iimitecl variations br jurisdiction to constitute a uniform secu- r�` " ,� :
<br /> � rity instrument covering real propetty. This \Iortgage shnll be governed by the la�v of the jurisdiction in which * >
<br /> �`
<br /> � the Pro�erty is locrsted. In tl�e event that any provision or clause oz this �4ortgage or the Note conflicts with i ° �,
<br /> ' applicsble law, sucli conflict shnll not. uffect otl�er provisions oF this \fortgage or tlie iQote which can be given � �
<br /> � effect withaut the conflicting provision , und to this end the provisiuns of the \Iortgage and the Note are declared � �"
<br /> ; to be severable. �- .
<br /> � 16. Bonowei s Copy. Borrower shali be furnished Z conformed copy of this �4ortgage at. the time of execu- ` ' � ;
<br /> tion or after recordation hereof. � �.
<br /> y 17. Tr�ster oi the Property; Assumption. If all oc• any part of the Property or an interest therein is sold x « '�
<br /> fx+F':-
<br /> 4 or transferred by Sorroaver without Lender's• prior written consent, excluding (a) the creation of a lien or encum- , .
<br /> � brance subordinate to this Mortgage, ( b ) the creation of a purchase money security interest for household appli- F , r , �,
<br /> � ances, (e) a transfer by devise, descent or by operation of la�r upon the death of a joint tenant or (d) the, grant of �
<br /> - r any leasehold interest of three years or less not containing an o��tion to purchase, Lender may, ut Lender's option, � ;
<br /> ideclare sll the sums secured by this Mortgage to bc immediatch• duc anci payablc. Lender shsll hare wuived such ' � � +`
<br /> option to accelerate if, prior to tlie snle or transfer, Lender und thc person to whom the Yroperty is to be sold or � � �
<br /> transferred reach ugreement in �vriting that tLe credit of sucli person is satisfactory to Lender und that the interest � � "�
<br /> payable on the sums secured by this �iortgage sUall be st sucl� ratc as I.ender shall request. If Lender has �vaived � T �;
<br /> the option to accelerate provi3ed in tl�is paragrapli 17 and if Borrower's �uccessor in interest has executed a writ- i
<br /> ten assumption agreement accepted in �vriting by I.ender, Lender shull rclessse Borrower from all obli�ations under "p �
<br /> this Mortgage and the Note. t , �
<br /> � ,;
<br /> If Lender exercises sucli option to accelerate, Lender shnll �nail Borrower notice of acceleration in accordance �
<br /> witl� paragraph 14 hereof. Such notice shall pro�•idc a period of not less tl�an 30 ctays from the date the notice is f � '
<br /> mailed �vitl�in whicl� Bonower may pay the cums declared due. If Borro�a•er (ails to pay such sums prior to the q , .
<br /> , � expiration of such period, Lender may , �vithout fuMlier notice or demand on B'orro�ver, invoke any remedies per- � ;
<br /> ,� mitted by paragraph 18 hereof. „ ,
<br /> � P
<br /> $ Nox-UxrFoxrz CovExwxTs. Borro�ver and Lender furtl�er covenlnt and a�ree as follows :
<br /> 3 �
<br /> 3 18. Aaeelera6on; Remedies. Except as pro�•ided in parssgr.iph 17 I�ereof, upon Borrower's breach of any '
<br /> xcovenant or agreement of Bono«•er in tl�is \Iort�aige, including tl�c covenants to pay ��•lun due any sums secured
<br /> , � by this �Iortgage, Lender ��rior to uccelerntion �Iisl1 inail notice to Borro«•cr as pro�•ided in pxragraph 14 liereof `
<br /> specifying: ( 1 ) the bresch ; (2) the netion reryuired to cure such Lreacli ; 13) n datc, not less than thirty days
<br /> � � from the date the notice is mailed to 73orro�cer, I ��• ��-l�icl� �ucli hreucl� �uust bc rured ; �nd (41 that failure to cure
<br /> , such breach on or before tiie date specified in tl�e noticc �uuy result in acceleration af tlic sums secured by this
<br /> 1 Mortgage and sale of the Property. If the breach is not cured on or beforc the date specified in the notice, Lender �
<br /> ,- 1 at Lender's option inay declam all of the sums secured b,y this 1lortgagc to he immediately due and payable
<br /> : t without further demand and may foreclose this �1ort.gnge by 7udicial proceeding. Lender shall be entitled to collect
<br /> , � in such proceeding ttll expenses of foreclosurc , including, hut not limited to, costs of documentary evidence,
<br /> abstracts and title reports. �
<br /> � � 19. Boaoaver's Right to Reix�state. Notwithstanding 7.endei'� neceleration of the sume secured by this .
<br /> '. � Mortgage, Borrower shall have the right to have sny proceedings begun by I.ender to enforce this Mortgage dis-
<br /> � continued: at any time prior to entry of a judgment enfoxcing this \3ortgage if : ( nY Borro�l�cr pays Lender all r'
<br /> � aume which would be 'then due under this \lortgagc, thc l\'ote nnd notes seeuring Future Advuncer;, if any, had no
<br /> acceleration occurted ; (b) Borrower curee all breaches of an}• other co�•en:tnte or agreements of Borrower con-
<br /> : { tained in this Mortgage ; (c) Borrower pavs all reasonnblc expenses incurred ny I,ender in cnforcing the covenants
<br /> -� ;; and agreemente of Borrower eontained in this �Iortga�e and in eulorcing I.ender's reniedies as provided in pnra- �
<br /> ���,� graph 18 hereof, including, but not limited to, reasonable attomey's fees ; and � d ) Borrower takes such action as F=p
<br /> � �. ` Lender may ieseonably require to assure that the lien of Uiis \fortgage, Lender's interest in the Property and
<br /> 5�� : Borrower'epbligstion to pay the sums secured by thic �Iortgage shnll continue unimpaired. Upon such payment
<br /> �>:.'. aad cure by Borrower, this Mortgage and the obligation� �ecured 6erebp shall remain in full force snd eftect as if "'-'='��'
<br /> r' rio acceleration had occurred. ' �
<br /> �. , 20. Aeaignmeat o! Reafs: Appomtment of Reeeiver; Lender in Posseasioa. As additional security here- �{ ''
<br /> = under;Sorrower'heYeby seeigns to I:ender the rents of tha Property. �iro�•ided tliat Borro�ser shall , prior to acceler- �`�,�
<br /> '��, afaon under paragrsph 1S hereof or aban3onment of thc Property, hnve thc right to collect and retain such rents �": .
<br /> ' as'thep becotne dqe and psyable. � :�,
<br /> °# U'pon seceleration under paragraph 18 hereaf orabnn¢onment of the Yroperty, . Lender. in person, bp agent �'�, ' ; �
<br /> p� � . ... . . . . . . '�w' ,� � l�
<br /> � or by jndioislly-appointed receiver-ahall bo entitted to enter upon, take possession of and ivanage the Pmperty �- .i�, ..:-
<br /> and. W,eolleot Lhe rents oG;the Propert.y, including those pnst due. AIS rent, collectecl by Lender or the reccivcr
<br /> x,� Bhall be spplied first to payment of the costs .of management of tl�e Property and collection of ren�ti, including, but
<br /> � ' '3 : not limited to, receiver's fees; nremiums on receiver's bonda nnd reasonnble attorney'� fees, and then to the cums
<br /> ' t seoured by this Mortgage. Lender and the reoeiver ehall be linble to xccount onlp for those rents actunlly received.
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