|
� . , . . . . . .. . . . . . . . . . . . . � . •~ / . .
<br /> � '
<br /> ' �/�?* . . . .
<br /> not erztend or postpone the due date of tlic monthly install�nents referred to in parngraphs 1 nnd 2 hereof or
<br /> change the amount of such installments.
<br /> i0. Borrower Not Released. Extension of tlie time for papment or modificution oE amortization of the sums
<br /> �; secured by this Mortgage granted by I.ender to any euccessor ia interest of Borro�ver s6a11 not operate to release, `
<br /> ` in any manner, the liability of the original Borrowcr �nd Borron•er's successors in interest. Lender shsll not be � �
<br /> f required`to commence proceedings against sucli auccessor or refusc to extend time for payment or otherwise modify ��
<br /> � amortization of the sums secured Uy this _\lortgage Dy reason of uny demand made by the original Borrower snd �
<br /> f Borrower's successors in interest.
<br /> i 11. Forbe�ance by Leader Not a Wciver. Any forbearance by Lender in exercising uny right or remedy �' '}`
<br /> -; hereunder, or otherwise afforded by applicable law, shall not bc n �vaiver of or preclude the exercise of any right
<br /> � � or remedy hereunder. The procurement of insurance or the payment of tnxes or other liens or charges by Lender
<br /> �� u'•% sha12 not be'a waiver of Lender's right to accelerste the maturity of the indebtedness securefl by this Mortgage.
<br /> x Lr'J 12:' Remedies CumulaHve. AIl remedies provided in tl�is \Iortgage :�re distinct and cumulative to any other '•
<br /> s C\i right or remedy under this Jlortgage or afforded by In�c m• eqc�icy, am9 rnay bc exercised concurrently , independ-
<br /> j O cntly or successively.
<br /> ` O 13. Sueeesaors �d Asaigns Bouad; Joint �d Several Liability; Captions. The covennnts and agreements
<br /> ; � herein contained shall bind , nnd the rights hereunder shall inure to, thc respectivc suecessors and assigns of Lender
<br /> ? � and Borrower, subject to the provisions of paragraph 17 hereof. :111 covenants and agrcements of Borrower shall
<br /> � � be joint snd several. The csptions and lieadings of tlie paragrnphs of t6is i[ortgage are for convenience only and "
<br /> are not to be used to interpret or define the provisions I�ereof.
<br /> ' ; 14. Notiee. Any notice to Borrower pro�•ided for in tl� i� \lortgage �hall be gi�•en by mailing sueh noEice by '
<br /> � � certified mail addressed to Borrower nt thc Propert�• Address atnted belo�c , except for xny notice required under �
<br /> � paragraph 18 liereof to be gicen to Borro�cer in the munner �rescribed Ly applicuble law. 4ny notice provided � c
<br /> -. � forin this �Iortgage chall be deemed to liavc been given to Borro«•er «•Len gi�•en in thc �nanner designated herein. -�
<br /> , 15. Uaiform Mortgage; Goveming Law; Severability. 'Chie form of mortgage combines uniform covenants i� �,� ;
<br /> � for nationul use and non-uniform covenants witL ]imited variations Uy jurisdiction to constitute a uniform aecu- 4 " •
<br /> ; � ' rity instrument covering real property. This \Iortgage shall 6e governed by the la�v of the jurisdiction in which r>�
<br /> ' { the Property is located. In the event that any provision or clause of this \fortgage or the Notc conflicts with ^"
<br /> ; npplicable law, sucl� conflict shall not affect otl�er provisions ot this �Iortgnge or the Note which csn be given ;, � i
<br /> � - effect without the conflicting provision, and to this end the provisions of the �lortgage and the Note sre declared `i . � : °
<br /> y to be severable. � „ , ;
<br /> { 16. Boaoweis Copy. Borrower shall be furnished n conformed copy of this 1-Iortgage at the time of execu- �
<br /> � tion or after recordation hereof_ � ,�
<br /> ; 17, Traasfer of the Propezty; AssumpGoa. If all or any part of the Property or an interest therein is sold ' r� „`.i
<br /> � ;.
<br /> ar traasferred by Borrower �vithout Lender's prior written consent, excluding (a) the creation of a lien or encum- , -
<br /> ; brsnce subordinate to this Mortgnge, ( b) the creution ot a purcha�e money security interest for household appli- j ' , �`, � , ' �' >
<br /> f ances, (c) a transfer by devise, descent or by operation of la��• upon the death of u joint tenant or (d) the grant of '`=
<br /> , sny lessehold interest of three years or less not containing an option to purchnse, Lender ma ' ' ' ``
<br /> y, at Lender s option, j
<br /> � declare sll the sums secured by this Mortgage to be imu�ediately due and payable. Lender slisll have waived such ' 1i ,� n;
<br /> . � option to accelerate if, prior to the sale or transfer, Lender and thc person to whom the Property is to be sold or -�r
<br /> p transferred reacl� agreement in writing tl�at the credit of sucli person is sutistactory to Lender snd that the interest !�='
<br /> payable on the sums secured by this Mortgage shall be at sucl� ratc as Lender shall request. If Lender has waived v ` -s- ��"
<br /> � the option to accelerate provided in this parssgraph 17 and if Borrower's successor in interest has executed s writ-
<br /> ten sesumption agreement accepted in �vriting by 7,ender, Lender shall release Borrower from all obligations under
<br /> � thia MorBgage and the Note.
<br /> jIf Lender exercises sucl� option to accelerate, Lender shull anail Borrower notice of acceleration in accordance
<br /> � �vith paragraph 14 hereof. Such noticc shall provide a period of not less thnn 30 days from the date the notice is
<br /> = mailed within which Borrower may �my the sums declared due. I( Borrocver fails to pay such sums prior to the
<br /> expiration of such period, Lender may. �vithout further notice or decnand on Borrower, invoke any remedies per-
<br /> �� mitted b
<br /> y parsgraph 18 hereof.
<br /> �
<br /> ; �� . � . NO2S-UNIFOIiM COVENAISTS. BOl'1'OWQI' flll(1 LQIICIE?1' tUCt�l@T COVeIIflIlt and agree ns follo�vs c
<br /> } 18. Aeceleration; Remedies. �xcept xs provided in parngra�ih 17 hereof, upon Borrower's breach of any
<br /> „� covenant or agreement of Borrower in this \Iort�ngc. including tl�c covenants to pay ��•hen duc any sums secured
<br /> � by this �lortgage, Lender l�rior to ncceleration shull muil notice to Borro«•cr ns provicled in paragruph 14 l�ereof
<br /> specifying: ( 1 ) the breacl� ; (2 ) the netion requircd to cw•c �uch breucl� ; 131 a datc, not less tl�un thirt,y days
<br /> � from the date the notice is mailed to I3orro«•cr, ! n• ��•hicli �ucli brcacl � must be curea ; and (4 ) that tnilure to cure
<br /> � such breach on or before tl�e date specified in tLe noticc roay resuit in accelcration of tlic sums secured by this
<br /> a • Mortgage and sale of the Property. If the brench is not cured on or before thc dute specified in the notice, Lender
<br /> ,t st Lender's option tnay declure all of the sums secured by this lfortgage to be iinmediatcly duc and paysble
<br /> � without further demsnd and may foreclose tliis �4ortguge by jndicial proceeding. Lender shall bc entitled to collect
<br /> ;x in such proceedin� all expenses of foreclosurc, inclu4in�, but iio[ limited to, costs of documentary evidence,
<br /> �
<br /> abstracte snd title reports.
<br /> 4 : 19., Boaower's Right to Reiastate. �'otwithstanding I.ender's :tecelerution of thc sums secured by thia
<br /> '; Mortgage, Borrower shall hsve the right to have any proceedings begun by I.endcr to enforcc this �4ortgage dis-
<br /> contiaued st any time prior to entry of a judgment enfoYcing this �1oMgage if : ( a ) Borroa-er pays Lender all
<br /> �� suros which would be then due under this 1lortgage, thc IVote nnd notes securing Futurn Advances, if any, hsd no s
<br /> acceleration occurred ; (b) Borrower cure,a all brenclies of any other covennntc or sgreements of Borrower con- �
<br /> taiaed in this Mortgage ; (c) Borrower pays all reasonsblc expenses incurrec9 by 7,ender in enforcing the covenants
<br /> ' and agteements of Botrower contained in this \Iortgugc :�nd iu euiurcinK I.ender'x remedies ns provided in para-
<br /> � graph 18 hereof, including, but not limited to, reasonable attornep's fee: ; and Idl Borrower takes such action as
<br /> r:ender msy reasonably require to assure that thc lien of this �Tortgagc, Lender's interest in the Property and `
<br /> Borrower's 'obIigation to pay the sums aecured by this J4ortgagc s1in11 continuc �nimpaircd . Upon such pay�nent ,,,,.,�w
<br /> and cure by Borrowei, this Mortgage and the obligations �eaured hereby shall remain in full force and effect as if � ,
<br /> no'acceleration had occurred. ;
<br /> � ,* , ,
<br /> 20. A+sigsimonf od Rsab; Appoiatmeat, oi Reeeiver; Lender in Possessioa As additional security here- � r: t�j
<br /> under; Boriower hereby aseigns to Lender t}�e rents of Yhe Property, ��rovideci that Borroe•er shall, prior to acceler- � '
<br /> atioa under 'paragraph 18 hereof or abandonment of the Property, have the right to collect and retain such rents
<br /> � ' �:
<br /> ae thay 6ecoine due and payable. x F
<br /> Upon sbceleration under'paragraph 1& liereof or sbnndonment of the Yroperty, Lender, in person , by agent 'L � , ��
<br /> ,
<br /> or by judicielly appointed receiver ahall be entitled to enter upon, take poasession of and �nannge thc Property
<br /> and to .collect Lhe rents of the Property,. ineluding thoxe past �lue, All rents collectecl by Lender or thc receiti�cr
<br /> ahsll be applied first to payment of the costs ,of msnagement of the Property and collection of rents , including, but
<br /> : not limited to, receiver's feea, premiums on receiver's bondc and reasonsble ,�ttorney's fees, und then to the ::ums
<br /> '} ' aecured by this Mortgage. Lender and the receivcr shalt be linblc to accoimt only for those rent� fictunllp recei�•ed. �
<br /> �
<br /> „
<br /> ' i
<br />
|