|
�. _ _ � �
<br /> . . "",' � '^''ti, "
<br /> not extend or postpone the due date of tl�e monthly instullment< referi•ed ta iii par3grapi�s 1 nnd 2 hereof or
<br /> change the sniount of sucl� installments.
<br /> 10. Bozrower Not Released. Extension of the tin�e for pn,yment or inodification of amortization ot" the sums
<br /> i secured by ttiis �uitguge granted ,i�y Len�ier to any �uceessor in in,terest nf Borrower shal] not nperate to relesse, ; .
<br /> �� in any; innnner, the liability of Che original Borro�ver :ind Burro�vcr's yuore�sors in iuterest. Lender shall not be r
<br /> ,. '; required to commence procecdings against sucli successor or �•efuse to ext�nd time for payment or otherwise modify +,
<br /> (� smortization of the sums secured Uy tl�i. 1lortga�e 6y reasmi of 2n}• dema:�d tnnde by the original Borro�ver and r:
<br /> Bortower's succesaora in interest. ! `
<br /> , 11. Forbear�ee bg Lender Not a Waiver. Any forbearancs hy I.ender In exercisin� any right or remedy
<br /> j � hereunder, or obherwise afforded by aPplicable la���, shn1l not be n waiver of or prec3ude the exercise of any right �
<br /> " � or nemedy hereunder. The ��rocui•emeni of insurance or ihe payinent o6 taxes or other tiens ar ohnrges by Lender
<br /> • ' shall not be a waiver . ot Lender's ri�rt tn aneelernte tlie maturity of tl�e indebtedness secured 6y this 1VTovtgage. s
<br /> ` i � 12. Remedies Cumulative. AIL remedies provided in t3xis \lurcga�e urc clistincr, and cumu;tative Lo any oEher �
<br /> { � right or remedy under this \Iort�age or afforded by in�v nr t>quity, and mai�• lie exercised concunently, independ- � ,
<br /> � '� ently or suucessively. ' "
<br /> � 13. Successars aad Assigns Bound; rciat �d Several Liability; Captions, 'I`he co�•ennnts and agreements
<br /> � heseul aontained shall bind, and the :�ighLs fiereuncler �hall inuxe to, thc resp>ecCi�•c succe;sors and assigns of Lender f
<br /> r and Borrower, sul�ject to the provisions af tiara�ra{�h 17 hereof. All eo�•emant� and agreements of Borro�s*er shall `
<br /> be joint und severaL The cx{�tions :�nd hcadings of ti�e para�ra��i�s of t hie \ (ortgage urc for convenienee only and '"
<br /> y ase not to 6e used to interpret os definc tlie �rrovisii��is liereot. t -
<br /> ; 14. Notiee. Any notice to F3orrower p.ro�•idcd for in thic \lortgii�e shall l�c gi��en by mailing sucli notice by �
<br /> } certified nrail addressec{ to Borro���er at tlic Pro��erty� .l�idre.� �i.xted hc(o�r , except ior uny notice required under �`
<br /> ± paragraph 18 hereof to be gixirn to Borro«'er in the tnunner pceccriheii t�y� applic.�ble la���. �ny tmfice �rovideci � -, ;
<br /> � forin this \iortgage �hall bc deemed to ha�•e been �i�•en to Borra���er «•l��n gS��en in chc inanner designated l�erein . "
<br /> i`
<br /> 15. Uniform Morigage; Governixsg Law; Severability. 'I'hi� form of martguge combines uniform co�•enantis f
<br /> � for national use und non-uniforn� c�venants with li�i�itecl �•ari.;tions 1>y jurisdiction to constitute n uniforn� secu-
<br /> , ; rity instrument cnvering renl properCy. Tliis \Iortgngc shali b� governed by the la�v of the jurisdiction in which , ;
<br /> • I the Property is located. In tlie o�•ent that any provisi.on w• r.lause oi tliis \Iortga�e or the Note confliets with
<br /> - j applicable lan, such conflict shatl not affect other ��ravisionc of thi. Jlortgage or the �Tote which ¢an be given i
<br /> f effect without tlae conflicting pravis9on , anct to this end khe pro�isiuns of the �tortsage anci the IVote are declared
<br /> 1 tio be severable.
<br /> � 16. Borroweis Ccpy. Borro�vet shall be furnisl�ed a eunlormed cop�• of this \Iortgage at the time of exeeu- r
<br /> � tion or after renordatiou hereof. ;s , {�
<br /> � 1Z. Traasfer of the Pro rt Assumption. if iill or anv >art .�f the Pro ert • or an interest therein is sold
<br /> � Pe Y: . I P 3 r r�
<br /> or transferred by Borrower withouk Lender's pcior writtt*n consent , excluding (g) the nreation of a lien oc enctim-
<br /> brance subordinate to this \lartga�e , ( i�) the creution of u �>umhxsc inoncy security interest for household appli- '
<br /> � ances, (c) n transfer by devise, descent or bp operation of Ia«• upon the death of a .joint tenant or �3) the grant of ;
<br /> ; any leasehold interest of three veurs or less not i:ontnining ain optiori tn purchase, Le.nder may, at Lender's option, `
<br /> � declare sil the sume� secured by tiais Mortgege t� Uc imuiediately due anci payable. Lendes shall liave waived sueh F,:
<br /> - j option to xccelerate if, nrior to t1�e sale or transfer, Lehcier and the person to �vhom the Propsrty is to be �old or �,; '
<br /> ` traasferred xescl� agreement in �vriting tlrst the credit od such person is satisfactory to Lender snd CY�at tihe interest t ' '`
<br /> � pays,ble on the sums seaured by this \Iortga$e shall be ut sucl� ssitc as I.ender shall request. Ii Lender ha� waived t .
<br /> the option to accelerate provided in this paragraph 17 and if Borrower's successor in interest l�as executed a writ- q, ��
<br /> ten assumption agreement accepted in writing by l.ender, Lender shall release Borrower from all obligations under ;
<br /> } thie Mortgage and the Note.
<br /> � If Lender exercises sucl� option to uccelerate, Lender shall enail Borrower notice of acceleration in sccordance
<br /> ` `� �vithparagraph 14 hereof. Such notice shall provide a ��eriod of not less tLan 30 clays from the date the natice is y
<br /> f mailed within which Bono�t•er may pay the sum� declared dua If Borro�cer fails to puy such sums prior to the ,
<br /> � expiration of such period , Lender may, «•ithout furtLer notice or demsnd on B'orrower, invoke any remedies per-
<br /> mitted by paragraph 18 hereof.
<br /> � NON-UNIFORM COVE23A\TS. BOCl'O\1'C'P AI1C� LBIlCl@I' tUCti1C1' COt'Cildlit, and agree as foliows : ; -
<br /> 18. Aeeeleration; Hemedies. Exeept as procidect in puragra� �L 17 hereof, u��on Borrower's breseh of any
<br /> -� covenant or agreement of Borro�ver in this \ImK�xgc, inaluciing tLc covensnts to pay ��•hen duc any sums secured
<br /> � by this 1'Iortgage, Lender prior to acccicration �I � ufl mail notice to Borro��•cr a< ��ro��ided in parngruph l4 hereof
<br /> ; ; spebifying : ( 1 ) the breach ; (2 ) tlie nction required to cw•c �uch brcucl+ ; 13 ) u da..c, not less tLan thirty days
<br /> � from the date the notice i� mailed to I3orro«•cr. b�• �chich �ucL hre:uh must be ew•ed ; and � 4 ) that failwr to cure
<br /> ! such breach on or before tLe date specified in the noticc �uuy result in accclerstion ot the sums secured by this
<br /> ' � Mortgage and sale of the Property. If the breach is not c�red on or beforc the date specificd in tl�c notice, Lender
<br /> � at Lender's option may declsre nll o( the su�ns secured by thi, �Iortgage to be i�nmecliately Jue and payaUle
<br /> without further demand and may foreclose this �'Iortgnge by ,judicial proceeding. Lender shall be entitled to collect
<br /> � in such proceeding all expenses of forcclosurc, including, but not li�uited to, costs of documentary evidence,
<br /> � n.batracts and title reports.
<br /> � 19. Borrow�z's Riglat to Aeiastate. Notwitl��tandin� 7.ender's acceleration of the sum< secured by this
<br /> Mort,gage, Borrower ahall have the right to ha��e snp proceedings hegun by Lender co enforcc this Mortgage dis-
<br /> � continued at any time prior to entry of a judgment enfa7cing tliis \Iortgage if : ( ss ) Borrower pays Lender all
<br /> � sums which would be then due under this �3ortgage, thc Note nnd notes securing Future Advances, if any, had no
<br /> ¢ acceleration occurred ; ( b) Borrower cures all hreaches of anp other covenants or agmements of Borrower con-
<br /> l tsined in this Mortgage ; (c) Borrower pnys all reasonable eapenses incurred b,y T,ender in enforcing the covenants
<br /> � and agreemeats of Borrower contained in ti�is ttortgage and iu euiorcing Lender�s remediea as provided in para-
<br /> , graph 18 hereof, including, but not limited to, rensonaUle atiorne}•'s iees ; and fd ) Borrowcr takes such nction as �
<br /> Lender may reasonabiy require to assure that the lien of this �fortRage, Lender's intereat in the Property and
<br /> Borrower's obligation to pay the sums secured hy this �Iort�sge ehall continuc unimpaired. Upon such papment -r"' ' �
<br /> ` and 'cure by Boia�ower, this Mortgage and the obligations =ecumd hereby shall remQin in full force nnd effect as if � �f
<br /> ; ' no accelerstion had occurred. l�
<br /> 20: Aesignmeat of Reats; Appoiatment .oi Raeeivez: Lendar in Posseasioa �s additional security here- ` � �
<br /> �, ` ,� : under Bortowerher86 sasi to Lender the rents of tGe Pro ert •. ro�•idecl ti�at Borro«•er shall, nor to acceler- � "
<br /> � Y S� P 1 P P � s; .
<br /> ` 'ation under paragraph 18 hereof or abandonment of the Property, hsvc the right to collect and retain such renta x
<br /> , , � �.
<br /> asthey become due and payable_ *� . ,w,
<br /> z Upon soceleration under paragrsph 18 hemof or ahandonment of the Yroperty. Lender, in person, by agent ;� � ,*'�
<br /> ' or "udieisll a inted receiver ahall be entitled to enter u on, take os<e�sion of and ivana e the Pro ert •
<br /> ,. . ¢ . bY ] . Y PPQ . P P R P 5
<br /> • aad to Colleet.4•he renta of the Property, including thoRe pa�t: due. All rnnt� eolle�tcVi by T.ender or the receive•r
<br /> ` shall be spplied first ta psyment of the costs of management oi the Property and collection of rentc, including, but
<br /> � not limited to,.receiver's feea, premiums on receiver'e bonds nnd reasonuble attorney's feea. and then to the eums
<br /> } seeured by thia Mortgage. Lender and the receiver shnll bc linble to account only for those rent� actainlly recci�•ed. �
<br /> ;
<br /> ' i : . _ _ , . 1
<br />
|