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r " �
<br /> '",'; � .
<br /> � not extend or postpone the due date of the �nontlily instnll �nents referred to in parngraphs I and 2 hereof or
<br /> � change the umount of such installments.
<br /> 10. Borrower Not Released. �xtension of the time for puyment or modification of amortization of the suma
<br /> ; secured by this vlortgage granted by I.ender to any successor in interest oi Borrower shall not operate to release,
<br /> j in any manner, the liability of tl�e original Borrower nnd Borrower's successors in interest. Lender shall not be
<br /> ' required to commenceproceedings against sucli successor or refuse to extend time for payment or otherwiae modify t
<br /> amortization oF the sums secured by this \Iortgage hy reason oi any demand made by the original Borrower and ,;
<br /> � Borrower's aueceasors in interest.
<br /> i � 1L Forbe��ee by Lende: Not a Waiver. Any forbearance by Lender in exercising any right or remedy
<br /> hereunder, or otherwise afforded by npplicable law, shall not be a �vaiver of or preclude the exercise of any right
<br /> � �= or remedy hereunder. The procurement of insurance or the paytnent of taxes or other liens or churges by Lender
<br /> : � j ahall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this Mortgsge.
<br /> � 12. Remedies Camulative. All remedies provided in tl�is �lortgage ore distinct and cumulative to uny other
<br /> right or remedy under this .lIortgage or afforded hy la��• or equit.�•, and map bc exercised concurrently, independ-
<br /> iently or auccesaively.
<br /> � 13. Successors aad Assigns Bound; Joint �d Several Liability; Captioas. The covenants and agreements
<br /> ; � herein contained sha11 bind , and the rights hereunder ehall inure to, thc respectivc successors and assigns of Lender
<br /> � and Borrower, subject to the provisions of paragntiph ] i hereof. All covenants and a�reements of Borrower shsll
<br /> ' be joint and several. The captions and hcadings of tl�e paragra�il�. of this �lortgage are for conuenience only and
<br /> � are not to be used to interpret or define the provisions liereof.
<br /> � 14. Noflee. Any notice to Borrower pro�•ided for in this \lortgage shall bc gi�•en by mailing such notice by
<br /> - � certified mail addressed to Borro«•er r�t the Property �ddress s[stted helo«• , except for uny notice required under
<br /> patagraph 18 hereof to be given to Boirou•er in the mnnner jirescribed b�• applicable law. Any notice provided
<br /> ,, � for in this Stortgage shall bc deeiued to hacc been given to Borrow•er «•hen given in tt�e manner designated herein.
<br /> f 15. Uaifonn Mortqage; Goveming Law; Severability. This form of mortgage combines uniform covennnte
<br /> , # for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform secu-
<br /> ; rity instrument covering real property. This �Iortgage shall be governed by the Iaw of the jurisdietion in which
<br /> !' ; the Property is located. In the event that any ��rovision or cluuse of this \3ortgage or the Note conflicts with
<br /> ' :{ appiicable law, such conflict shall nat uffect, other provisions of this \fortgage or the Note which can be given
<br /> effect without the conflicting provision, and to this end the provisions of the �Iortgage und the Note are declared
<br /> ; to be severable.
<br /> % 16. Bortower's Copy. Borrower shall be furnished a conformed copy of this 14ortgage at the time of execu- �
<br /> # tion or after recordation hereof. n
<br /> 17. Tr�ster of the Property; Assumpflon. If all or any part o[ the Property or an interest therein is sold '
<br /> r or transferred by Borrower without Lender's prior written consent , excluding (a ) the creation of a lien or encum- `
<br /> `r brance subordinate to this D4ortgage, ( b) the crention of a purchase tnoney security interest for household appii- ; F i �
<br /> �' ances, (c) a transfer by devise, descent or by operation of Itt�v upon the deatl� of a joint tenant or (d) the grant of � , :�;'
<br /> ;� any leasehold interest of three years or less not containing an option to purchase, Lender may, at Lender's option, s
<br /> , � declsre al1 the sums secured by this Mortgage to be immediately due and payable. Lender shall have waived sueh � r�'
<br /> z option to accelerate if, prior to the sale or 'transfer, Lender And the person to whom the Property is to be sold or ' ` � "
<br /> �; transfened reach agreement in n•riting that the credit af suc6 person is satisfactory to Lender and that the interest `�t'" �a`
<br /> � �` .
<br /> payable on the sums secured by this �Iortgage sl�all be at sucl� rate rss I.ender shall request. If Lender has waived ��:�
<br /> �� the option to accelerate provided in this paragrapL 17 and if Borrower's successor in interest has executed a writ-
<br /> ten sesumption agreement accepted in �vriting by I.ender, Lender shall release Borrower from all obligations under
<br /> '' thie Mortgage snd the Note.
<br /> ' " If Lender exercises sucl� option to secelerate, Lender shall �nnil Borrower notice of acceleration in accordance ,
<br /> � with paragraph 14 hereof. Such noticc shull provide a perio3 of not less than 3U days from the date the notice is
<br /> { mailed within which Borrower 7nay pay t6e su�ns declared due. If Borrower fails to pay such sums prior to the
<br /> expiration of such period, Lender may, tivithout further notice or demand on B'orrower, invoke any remedies per-
<br /> � mitted by paragraph 18 hereof. � ;�
<br /> :�ox-UxrnoxM CovExexrs. Bori•o�ver and Lende3• furtlier covenant and agi•ee tis follo��•s :
<br /> � 18: Aeceleratioa; Remedies. Except as provided in � rurugra��L 17 hereof, upon Borro«•er's breach of any
<br /> covenant or agreement - of Borro��•er in thic �forf�nge, incluciing tl�c covenants to �iay when due any sums seeureci
<br /> , ±' b this ��ort
<br /> y gage, Lender prior to xccelerution sl�ull muil noticc to Borro�ccr as �iro�•ided in paragruph 14 l�ereof
<br /> specifying: (i ) the breach ; (21 the nction mquired to cum sucl� breach ; � 31 a datc, not Icss than thirty days
<br /> ` � from the date thr notice is mailed to I3orro«•cr, b�� ���l�ich .ucl � brc:�cli un�st bc c�nrd ; und f41 that failure to cure
<br /> : Jy such breach on or before tl�e date specified in the noticc rosy result in acceleration of the swns secured by this ` �'
<br /> i�lortgage and sale of the Property. If the breach is not cured on or before the date specified in the notice, Lender
<br /> '.' at Lender's option inny declarc all of the �ums secured In• this �Iortgage to be immediately duc and payable ,, �
<br /> ' without furtherdemand nn<1 may foreclose tLis �4ortgage by judicial proceeding. Lender shnll be entiWed to collect
<br /> ` � � in such g,
<br /> ` t. proceeding All expenses of foreclosurc, incluilin but not liu�ited to, costs of documentary evidence
<br /> , �•
<br /> ubatracts and title reports.
<br /> w: 19. Bonowa{a Right to Aeiastate. Nota•ithstanding Lender's ucceleration of the sumc secured by this
<br /> i' Mortgage, Borrower shall have the right to ha�•e any proceedings begun by I.endcr to enforce this Mortgage dis-
<br /> q; coatinued at any time prior to entry of a judgment enfoxcing this �Iortgnge if: ( a ) Borrower pays Lender all
<br /> ' ;j� sums which would be then due under this �Iortgage, the Note nnd notes seciiring Future Advances, if any, had no
<br /> �; acceleration occurred ; ( b) Borrower cures nll brenches of nny other co�enants or agrcements of Borrower con-
<br /> �'I` tained in this Mortgage ; (c) Bortower pays all rea�onablc expenses incurred hy I,ender in enforcing the covenants r �
<br /> '" and agreements of Borrower contained in thic �Iortga�c and in enforcing I.endcr'� m�nedies as pro�•ided in pnra-
<br /> �; , graph 18 hereof, including, but not limited to, re��onable sttornep'e fecs : and Id ) Borrower takes such action as
<br /> *{f' Lender mey reseonably Tequire to ussure that the lien of this �Iortgage. Lender's interest in the Property and � _ ,
<br /> ��� Borrower's obligation to pay the sums secured by thi� �4ortgage �hatl continuc unimpsired. L7pon such payment
<br /> ',, sad cure by Borrower, this Mortgage and the obligations secured hereb�� shnll remain in full force and effect as if —
<br /> •+y - no acceleration Had occurred.
<br /> ` 20. Asai4nai�nt of Roaffi; Appoia�aent of Receiver; Lender ia Possession As additional secnrity here- � � '�
<br /> { under, Borrower hereby assigns to I,endBr the rents of fhe Propert}•: pro�•idecl thut Borroo•er shall , prior to ucceler-
<br /> ,.`< ,
<br /> ` stion undes paragr8ph 18'fiereof or abund�nment of til�e Property, hacc the right to collect and mtain such rents � �
<br /> ' as',they become due and payable. '' <
<br /> , � 'Upon;,soceIerstion under paragraph' 18 hereof orabandonment of the Yro �erty, Lender, in � 4
<br /> i� [ Person, by agent t*` ,� ?�y��,
<br /> a, oz by judioially appointed receiver :ahall be enLitled to enter upon, take pos�ee=ion of snd manage the Property �`"°" ' "°"�'
<br /> a� and to :colIect tl�e rents of the Property; including those past due. �11 rents collected by Lender or the receiver
<br /> ' .;. shall be applied,firat to psyment of the coata of management of the Property and collection of rents, including, but
<br /> �? not limited to, receiver's fees, premiums on receiveYs Uond� nnd reasonable attorney's fees, xnd then to the sums
<br /> i. secused by thia Mortgage. I.ender snd the receiver c��all be liable to account onl� for thore rents nctunlly received . �
<br /> lry . . . .. . � .
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