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<br /> , L. _ . _ . . . . � . � ' ' , � '
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<br /> j not extend or postpone the due date of t4c monthly instnllments referred to in parngraphs 1 nnd 2 hereot or ,F;
<br /> ' j change the amount of sucli installments.
<br /> >a 10. - Borrower No!'Released. Extension of the time for pa,yroent or modification of amortization of the aums � ' s '�:
<br /> ' '`� secured b this Mort a e ranted U I.ender to an siwcessor in interest of Borrower shn11 nat .o erate to relesse ' ` � � �
<br /> i Y � � B Y Y . P � f ', � ;s " �
<br /> � in any manner, the liability of the original Boriower nnd Borrower's successors in interest. Lender shall not be 4 ', , � j ��:
<br /> ; � required to comxnence proceedings against sucl� successor or rnfuse to extend time for payment or otherwise modify a� r ' <,���-.
<br /> amortizstion of the aums secured 6y this \Iortgage by reason of any demand made by the original Borrower and t a , s�t;
<br /> ° '" Bonower's suceeasors in interest. � ; " ' ' " �
<br /> � I1. Forba�aace by 7.ender Not a Waiver. Any forbearance by Lender in exercising any right or remedy ,t� , � � '�"=
<br /> hereunder, or othenvise afforded by uppIicabie la�v, sliall not be a waiver of or preclude the exercise of any right ` ' " ";
<br /> �" or remedy hereunder. The procurement of insurance or the payment of taxes or other liens or charges by Lender �' rt f w n`
<br /> �' shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by thia Mortgage. �` �. -
<br /> �-' 12. Remediea Cumulative. All remedies provided in tl�is \lortgage are distinct and cumuIstive to any other �. � " �ur'
<br /> � � right or remedy under this \Iortgage or nfforded by la�e or equi�y, nnd �nay be exercised concurrently, independ- ;.
<br /> � ently or successively. f`. � ;
<br /> Y � ^. 13. Sueeessors �d Asaigas Bouad: Joiat �d Several LiabiGty; Captions. The co�•enants and agreements �.
<br /> herein contained shall bind, and the rights liereunder �hatl inure to, thc respective successors snd assigns of Lender Y :
<br /> and Borrower, subject to the provisions of paragrnph 17 hereof. All covenants and agreements of Borrower ahall ,; � �t
<br /> . � be joint snd several . The captions snd liendings ot the paragraphs of thic \tortguge are for convenience only and �: , �p �T�
<br /> � are not to be used to interpret or define thc provisions liereof. a; . ' ;
<br /> ± I 14. Notice. Any notice to Borrowcr pro�•ided for in tliis \lortgnge shall bc gi�•en by inailing such notice by '. .�u"s}'
<br /> i certified 3nai1 uddressed to Borrower ut tl�c Property Address ;tated belo«- , except for ainy notice required under �; ,` �� °` , -
<br /> ' paragraph 18 l�ereof to be given to Borro�cer in the manner prescribed b�• ;ipplicable 1a�v. Any notice provided `� �`��'
<br /> 4 for in this �Iortgage shall be deemecl to have been given to Borro��•cr «•hen gi��en in tl�e manner clesignated herein. �; " ` r "'�:
<br /> 15. IJniform Mortgage; Governiag 7.aw; Severability. This form of mortguge combines uniiorm �covenants � ; � "" �'�'
<br /> t � for nationul use and non-uniform covenants �vitl� limited variations b}• jurisdiction to constitute a uniform secu- >'� " ' y ���
<br /> rity inatrument covering reaf property. This _lIortgage shal! hc govcrned by the la�v of the jurisdiction in which ` °"�
<br /> 1 .
<br /> the Property is located. In the event that nny provision or clsuse ot this \4ortgage or the Note conflicts with � `` ' , � ;s
<br /> spplicable law, such con8ict shali not affect other provisions ot thi. \3ortgnge or the Note which can be given � y � � 4 �;
<br /> � effect without the conflicting provision, and to ihis end the provisions of the �Iortgsge and the Note are declared ;, ,. ' r,w�z '..
<br /> � to be severable. ° . �, � q
<br /> 16. Sonower's Copy. Borrower shall be furnished a conformed copy of this i�Iortgsge at the time of execu- � � s �l �`'
<br /> tion or after recordation hereof. � . ; ; r $� r�
<br /> 17. Transiez of the Pzopezty; Asgumption. If all or any part of the Property or an interest therein is sold 'r, , 'r i �;,
<br /> or transferred by Borrower �vithout Lender's prior written consent, excluding (s) the creation of n lien or encum- � ' r°�, .,il i``� '�
<br /> brance subordinste to tl�is viort a e (b) the creatian of � ' ' �`` �
<br /> g g , purchase money security interest tor household appli-
<br /> ances, (c) a transfer by devise, descent or by operation of la��• upon the death of u joint tenant or (d) the_ grant of 4 ', ,�`'�,� �
<br /> any leasehold interest of three years or less not containing an option to purchnse, Lender may, at Lender's option, y . � � ' ' �» a�;�"�'��
<br /> declare a11 the sums secured by this Mortgage to Ue iimnediately due and payable. Lender shall have �vaived such � - ,� ` - ���
<br /> option to uccelerate if, prior to tlie sale or transfer, Lender and thc person to whom the Property is to be sold or ' ��xir�zy ;
<br /> � 3
<br /> transterrEd reach agreement in writing that tiie credit of such �>erson is sstisfactory to Lender and that the interest � 3'��,� ,�L �^
<br /> payable on the sums secured by this Mortgage sl�all be at such rate as Lender shall req�est. If Lender hss waived �. y �
<br /> � the o tion to accelerate rovided in this ' ' � " �� �` � ���'
<br /> p p paragrapli 17 und if Borrowers successor in interest has executed a writ-
<br /> ten sssumption agreement accepted in �r•riting by I.ender, Lender shall release Borrower from all obligations under
<br /> this Mortgage and the Note.
<br /> If Lender exercises such option to accelerate, Lender shali euail Borrower notice of acceleration in accordance i
<br /> with paragraph 14 hereof. Such notice shsll provide a period of not less than 30 days from the date the notice is ;
<br /> mailed within which Borrosver may pay the sums declared due. If Borrower fsils to pay such sums prior to the
<br /> expiration of such period, Lender may, �vitl�oUt further notice or demand on B'orrower, invokc any remedies per- i t `M^ ':
<br /> mitted by paragraph 1S hereoC. FE:
<br /> IQozs-LTxiFoxM COVENANTS. BOl'PO\vei• and Lendei• furtlier covenant and agree as folio�vs : rv�
<br /> - 1B. Aeeeleration; Remedies. Except as provided in � �arngra�i6 ] 7 liereof, upon Borrower's bresch of any ;
<br /> covenant or agreement of Borro«�er in this �Iort�i�Rc, including tLc covenants to pay whcn due sny sums secured 3
<br /> ;� by this Mortgage, Lender l�rior to acceleration sliall umil noticc lo Borro«•cr �is �n•ovided in paragraph 14 hereof ' r"
<br /> specifying: ( 1 ) the breach ; (2) tl�e nction required to cw•c such brcach ; ( 3) a date, not less than thirty days
<br /> ;, '� from the date the notice is mailed to Borro�cer, L�• ��-liich �uch brench u3ust Lc cw•ed ; und 141 that tailure [o cure
<br /> - ' � such bresch on or before the date specified in the noticc may result in acceleration of the sum.� secured by this ' ''
<br /> Mortgage and sale of the Property. If the breach is not cured on or beforc the date specified i� the notice, Lender ?4
<br /> at Lender'a option may declure nll of the swns secured by this \4octgagc to bc immediately due and payable
<br /> � without fnrther demsnd and msy foreclose this \�Iortgagc by judicial proceeding. Lender shall be entitled to collect
<br /> in such proceedin� all expenses of foreclosure, including, but not limitecl to, costs of documentary evidence, +'.�
<br /> abstracts and title reports.
<br /> 19. Borrowsr's Right to Reiastate. �1'otwitl�sianding I.ender's acceleration of the sums secvred by this t
<br /> � ',� Mortgage, Borrower shall have the right to have any proceedings hegun by 7,ender to enforcc this �tortgage dis- `
<br /> continued st ' an time rior to ent �;
<br /> ; = y p ry of a judgment enfqxcing this \lortga�e if: ( a1 Borro�ser pays I.ender all . �
<br /> , sums.which would be then due tinder this \Iortgagc, thc \'ote imct notes securing Fucurc Advances, if any, had no t
<br /> . �� acceleration occurred ; (b) Borrower cures nlI hrenches of nn}- other co�•enant� or agrcements of Borrower con-
<br /> ` tained in this Mortgage ; (c) Bonower pays all reasonrsble expenses incurretl by l.ender in enforcing the covenants
<br /> �c� aad agreemente of Borrower contained in- this �Iortgage and in enforcing I.ender4 remedies as provided in partt- ti�
<br /> i graph 18 Iiereof, inciuding, but not limited to, reasonaUle uttorney'c fees : :tnd Id ) Bozrower takes such action ns r °'
<br /> '" 7:eader:mtay reasonably require to assure that the lien of this \iort a c; Lender's interest in the Pro ert and " " ' "
<br /> , , AS P Y '. , r.:
<br /> Boxaower'e obligstion to pay the; sums secured by thi� \fortgnge shall continuc unimpnired. Upon such payment "" - -" 3 Y;
<br /> sad,cure by Botrower, this_Mortgage and the obli�ations secured l�ereby- chall remain in full force and effect as if :{
<br /> no saceleration hsd occurred �,
<br /> ' 20:` Assfi�at of .8�mts; Appomtmeai_ of Reeeiver, Leader iu Poasesaion. As additional security here- � ��,j
<br /> under, Borroover �ern3iy aseigii§ to I:en'der'th� 'rents of the Property. Eirovided` that Borro�ver shall , prior to acceler- 2
<br /> ation urider paragraph S&}iereof or atssndonment df 'the Property, havc thc rigl�t to coUect and retain such rents "h� '' � �
<br /> as thag'become due:and payable. �ix�" =;�g , _
<br /> Upon aoceleration under paragraph' F8 hereof or abandonment of the Yroperty, Lender, in Pereon, by agent E',x+�*'� '
<br /> � or by•judioislIy appointed zeceiver•ahsil be entitled to enter upon, take pos,Qession af and �nanage the Property
<br /> �. ' snd to coileFC the:.rents:of :thq, Property, mcluding those Psst due. AIl rents collected by Lender or the receiver
<br /> ?�� , ahaYI be applied,f&ret to payment, of.the coste of inanagement of tl�e Property and collection of rents, including, hut
<br /> � � not limited to, receiver's feeea rremivms on' rcceiver's bonds and renson:sblc attorney's fces, and then to tfic sums
<br /> , ;,� secured by thie Mortgage. Lende� and the receiver slisll be tiuble to account only for thoce rents AC�URIIV received. �
<br /> 1 _.,.. ,,.. . � � .. .. .. . . _. w.,.. . ., .. �. . . ,.r�. . �
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