|
• _ _ ^ ' ,_._ � " �
<br />� � ' '
<br /> not extend or postpone the due dnte of the inonthly insteillments referred to in paragraphs 1 and 2 hereof or
<br /> chadge. the amountof such installments.
<br /> 10. Boirower Not Ra]eased. �xtension of t6e time for payment or modification o[ a:nortizatiun of tl�e sums
<br />` secured hy 'this :Ylortgage granted Uy Lender to nny suecessor in interest of Borro«er shall not .aperote ta release,
<br />; in, any manner, the liabiliby of. U�e original. Borro}ver and Borrower'a sucr.essors in interest. I.ender shall not lae �
<br /> 1 r@quired to commence proceedinqs against such sucaessor oc refusc to extei�d time for payment or otherarise modity
<br /> amortization of the sums secured F�y this \Iortgage by reasori of uny demand innde by the original Borrower and �; `; , : 'i
<br /> $orrower's aucceseazs in interest. . e
<br /> 11. Forbeaianee Hy I:ender ISot ¢ Wmver. Any farbearance by Lender in exercieing uny right or remedy
<br /> tiereunder, or otherwise afforded by upplicable la«•, shall not be u �vsiver of or preclude the exerciee of any right
<br />; ; or remedy hereunder. The procurement ot insurrsnce or the pnyinent of taxes or other liens or charges by Lender
<br /> r' ehall not be a waiver, of Lender's zight. to accelera#e the maturity of tt�e indebtedness eecured by this Mortgage.
<br />� � 12. Hamedies Cumulative. All remedies provided in t6is \4ortguge are distinct and cuinulativc to uny other
<br />! � right or remedy under this \Iortgage or afforded . l>y Inw• or eryuity, And may be ex�rcised concurrently; independ-
<br />� �"'� ently or successively: .
<br /> p O 13. Successors �ad Asaigas Bouad; Joint �d Saveral Liability; Captioas. The covenants and agreements
<br /> O herein contained shall bind, und the rights I�ereunder sl�all imirc to, thc respectivc successors 3nd ussi�s of Lender
<br />= und Borrower, subject to tt�e provisions oi paragrapli 17 hereof. All cm-enatits and agrecments of Borrower shall
<br />� � be joint and several. Tize captions and lieadings of tl�c paragraphs of this �iortgage are for con��enience anly and
<br /> � are aot Eo be used to interpret or define tLe provisions hereof.
<br />, 14. Notiee. Any notice to Borro�ver pro�•ided fm• in tlii� Jlortgage .hall he gi�•en by muiling such natice by
<br /> certified inail uddressed to Borron•er st the Propertv Address stuted bciow, except for unE• notice required under
<br /> paragraph 18 hereof to be �;iven to Borro�•er in the manncr prescrihed Uy ap��licablc ]n�s•. Any notice grovided °
<br /> for in this �Iortgage shall be deetned to t�u�•c been �i��en to Borrox�er ��•I�en 6iven i�: the manner deyignated herein. i
<br /> 13. Unitorm Mortgage; Goveming Law; 3everability. 'I'his fonn of iuongage cmnbines uniform covenants �
<br /> for nstional use ond non-uniform covenants witi� limited varintions b�• jurisdiction to constitute a uniform secu-
<br /> rity instrument covering resl property. This �Iortgagc shall bc governed by the la��• of the jurisdiction in whi¢h x
<br /> the Praperty is ]ocsted . In the event that any provision or clause of this Mortga�e or the Notc conflicts with =
<br /> applicable lstw, such conflict shall not affect. otlier provisionc of this \lortgagc or the Note which r.an be given �
<br /> - effect without the canflicting provision, and to this end the provisions of the �fortgage and the Note are declared *
<br /> to be severable.
<br /> IG. Bozrow�r's Copy. Borrower shall be furnislicd a conformed copy of tliis �4ortgage at the time of execu- �-'
<br /> tion or sfter recordrstion hereof. �; ;,;
<br /> 17. Tr�sfer of th¢ Property; Assua�ptioa. If all or any part oi the Property ar an interest therein is sold ;� � :'i
<br /> or transferred b Borrower �vithout Lender's rior written consent excludin ' '
<br /> Y P > s (a ) the creution of u lien ar encum- �
<br /> brance subordinate to this vlorigage, ( b ) tl�e creation of u purchax money security interest for household appli- 'y
<br /> ances, (c) a transfer bq devise, descent or by operation of la��• upon the death of a joint tenant or (d} the, grant of v �;;
<br /> an3� legeehold interest of three years or less not containing an option to purchase, Lender may, at Lender's option, k
<br /> declare all the sums seeured by Chis \4ortgage to be immediately duc and payable. Lender shall have �v�ived such �'; �
<br /> option to accelerate if, prior to tl�e sale or transfer, Lender ax�d the ��erson to w�hotn thc Yroperty is io be sold or i _ ''
<br /> transferred reach agreement in �vriting that the cre3it of such ��erson is satisfactory to Lender und tl�at the interest
<br /> payable on the sums secured by this Vlortgage shal] bc at sucli rate as I.ender shall request. If Lender has wa.ived �
<br /> the option to accelerate provided in tl�is paragraph 17 and if Borrower's successor in interest lias executed n writ-
<br /> ten assumption agreement accepted in writing by I.ender, Lender shull release Borrower irom all obligations under �
<br /> this Mortgage and the Note. c
<br /> If Lender exercises such option to accelerate , Lender shall �nail Borrower notice of acceleration in sccordsnce
<br /> �vitl� paragraph 14 hereof. Such noticc shall provide a period of not less tlian 30 dayc from the date the notice is
<br /> mailed within �vhich Borrower may pa�- the sums declared duc. If Borro�ver Sails to pay such sums prior to the
<br /> . expiration of such period, Lender may, n•itl�out further notice or demand on B'orrower, invoke any remedies per- �
<br /> mitted by paragraph 18 hereof.
<br /> Nox-Ux�oxrz CovExwxxs. Borrower x�nd Lender f'urtl�cr covenant and anree as follows :
<br /> 18.• Aeeelerationb Remedies. Ezcept us pro�•ideci in parugr.i��h 17 hereof, upon Borrower's breach of any
<br /> covenant or agreement ot BorroH�er in this �Im•tgngc, including tl�e covenants to pay ���licn duc arty sums secured
<br /> by thie \'fortgage, Lender ��rior to acceleration �liull uutit notice to Borro��•cr a� providod in parngraph 14 hereoF
<br /> specifying: ( 1 ) the breacli ; (2) the aotion required to cure sucL I�reacL ; 13 ) ft date, not less thnn thirty days
<br /> from the datc the notice is mailed to 13orro��•cr, I�y ��•Lich :ucl � bre:ich must bc cured ; and ( 41 that failurc to cure
<br /> such breach on or before tl:e datc specifieci in tl�e notiec u�aiy result in acccleration of tl�e sums secured by this
<br /> Mortguge and sale of the Property. If the breadi is not cured on or betorc the date specified in tlie notice, Lender
<br /> at Lender's option may declure all o[ the sums secw•ed by this �tortgage to be immedistely due and paysble
<br /> without further demand snd may foreclose tl�is �fortgage by judiciul proceeding. Lender yhall be entitleci to collect
<br /> in such proceeding all expenses of foreclosurc , incluiling, hut not lin�ited to, costs oC documentary evidence,
<br /> abstrscts and title reports.
<br /> 18. Borrow�i a Right to Reiastate_ Notwitlistanding Lender'ti acceleration of the sum� secured by this
<br /> Mortgage; Borrower ahsll hsve the right to have uny proceedings begun by Lender to enforce this �iortgsge dis-
<br /> continued at any time prior to entry of n judgment enforcing this \fortgnge if : ( al Borro�cer pays Lender all
<br /> • sums which would be then due under this �tortgn�c, tLc 1Tote nnd notes securing Futurc Ad�•ances, if any, had no
<br /> acceleration xenrred ; (b) Borrower cures all breuches of any other co�•ennnta or ugmements oi Borrower con-
<br /> tsined in this Mortgage ; (c) Borrower pays all reasonablc expenses incurrc�l b� Lender in enforcing tl3e covenants
<br /> and agreements of Borrower contained in this \�fortgaqe snd iu enfm•cin� i,ender� re�nedie� as provided in psrn-
<br /> graph 18 hereof, ineluding, but not limited to, rerisonuble attorney '� feee : and id ) Borrower takes �uch uction as
<br /> Lender may reasonably require to assure that the lien of this �Iortgage, Lender'e interest in tLe Property and �.
<br /> Borrower's -obligation to . pay the aums secured by thie �lortgage shall continuc unimpaired. Upon such payment ;,,.,':
<br /> and cure.by Botrower, thia Mortgage and the obli�ation� secured l�ereby �hall remnin in full force and effect as if �"�
<br /> ' no scceleration hsd occurrec� ���
<br /> 20. Aaeigamsat of Rs�s; Appoiata�ent of Reeeiver, Lender in Posaeasion. �s additional seeurity herc- ''
<br /> under, Boirower he;eby saeigns to :Lei�der.the' rents of the Propert.y . provided thnt Borrod�er shall, prior to acceler- � r� ;,;�
<br /> atioa nnder„paragrsph 1$ hereof or abandonmenG of the Pro��erty, have thc right to collect and retain auch rents �+�'F:
<br /> �s t,hay, become due and paysble. � � �
<br /> ' II�on acceleration under paragraph, 1S hcreof or ubandonment of the Yroperty- , Lender, in �ierson, by agent w, �'
<br /> or by- 7u��cisllq appointed receiver shall bc entiUed to enter upon, take nossession of tind mans�e the Property c ;- ,, . �
<br /> s� Lo colleCt' the rents of .t3ie Property, including those ` Past due. .111 rents collected hy Lender or thc recei�•er '
<br /> ehall be applied firstto paymenti of the costa of insnsgement of the Property and collection of rents , including, hut
<br /> not limited to, receiver's fees, premiums on receiver's UondQ and reasonable attorney's feee. and then to the sums
<br /> aecured by thia Mortgage. Leader. and the receiver shall be liuble to account onh• for thocc rents actually received.
<br /> .. . . . . . . . . . . . . . . . I � J .. �
<br />
|