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85-000493
<br />9. BORROWER NOT RELEASED. Extension of the time for payment or modification of amortisation of the sums secured by this Mortgage
<br />granted by Lander to any successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and Bor-
<br />rower's successors in interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for payment or
<br />otherwise modify amortisation of the sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers suc-
<br />cessors in interest.
<br />10. FORBEARANCE BY LENDER NOT A WAIVER, Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise
<br />afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the pay-
<br />ment of taxes or other liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by
<br />this Mortgage.
<br />11. REMEDIES CUMULATIVE, All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this
<br />Mortgage or afforded by law or equity, and inay be exercised concurrently, independently or successively.
<br />12. SUCCESSORS AND ASSIGNS BOUNDS; JOINT AND SEVERAL LIABILITY; CAPTIONS. The covenants and agreements herein con.
<br />tained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Leader and Borrower, subject to the provisions of
<br />paragraph 16 hereof, All covenants and agreements of Borrower shall be joint and several. The captions and headings of the paragraphs of this Mort-
<br />gage are for convenience only and are not to be used to interpret or define the provisions hereof.
<br />13. NOTICE. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in
<br />this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at the Property Address or at such other address as Bor-
<br />rower may designate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by certified mail, return receipt requested, to
<br />Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for
<br />in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />14. UNIFORM MORTGAGE; GOVERNING LAW; SEVERABILITY. This form of mortgage combines uniform covenants for national use and
<br />non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. This Mortgage shall
<br />be governed by the law of the jurisdiction in which the Property le located. In the event that any provision or clause of this Mortgage or the In-
<br />debtedness conflicts with applicable law, such conflict shall not affect other provisions of this Mortgage or the Indebtedness which an be given effect
<br />without the conflicting provision, and to this end the provisions of the Mortgage and the` fadabtiesdaeis no declared to be severable.
<br />15. BORROWER'S COPY. Borrower shall be furnished a conformed copy of the Itstisbte"m and of Q* Mortgage at the time of execution or
<br />after recordation hereof.
<br />16. TRANSFER OF THE PROPERTY; ASSUMPTION. If all or any part of the Property or an interest therein is sold or transferred by Bor-
<br />rower without Lender's prior written consent. excluding (a) the creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of It
<br />purchase money security interest for household appliances, (c) a transfer by devise, descent or by operation of law upon the death of a joint tenant or
<br />idl t he grant of any leasehold interest of three years or less not containing an option to purchase, Lender may, at Lender's option. declare all the sums
<br />secured by this Mortgage to be immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer,
<br />Lender and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to
<br />Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lander shall request, If Lender has waived the op-
<br />tion to accelerate provided in this paragraph 16, and if Borrowers successor in interest has executed a written assumption agreement accepted in
<br />writing by Lender. Lender shall release Borrower from all obligations under this Mortgage and the Indebtedness.
<br />If Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with paragraph 13 hereof. Such
<br />notice shall provide a period of not less than 30 days from the date the notice is mailed within which Borrower may pay the sums declared due. If Bor.
<br />rower fails to pay such sums prior to the expiration of such period, Lender may, without further notice or demand on Borrower, invoke any remedies
<br />permitted by paragraph 17 hereof.
<br />NON- UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />17. ACCELERATION; REMEDIES. Except as provided in paragraph 16 hereof, upon Borrower's breach of any covenant or agreement of
<br />Borrower in this Mortgage, including the covenants to pay when due any sums secured by this Mortgage. Lender prior to acceleration shall mail
<br />notice to Borrower as provided in paragraph 13 hereof specifying: 11) the breach: (2) the action required to cure such breach: (3) a date. not less than 3o
<br />days from the date the notice is mailed to Borrower, by which such breach must be cured; and (4) that failure to cure such breach on or before the date
<br />specified in the notice may result in acceleration of the sums secured by this Mortgage, foreclosure by Judicial proceedings and ask of the Property.
<br />The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non.
<br />existence of a default or any other defense of Borrower to acceleration and foreclosure. If the breach is not cured on or before the date specified in the
<br />notice. Lender at Lender's option may declare all of the sums secured by this Mortgage to be immediately due and payable without further demand
<br />and may foreclose by judicial proceeding. Lander shall be entitled to collect in such proceeding all expenses of foreclosure, including, but not limited
<br />to, costs of documentary evidence, abstracts and title reports, attorney fees and court costa.
<br />16. BORROWER'S RIGHT TO REINSTATE. Notwithstanding Lander's acceleration of the sums secured by this Mortgage. Borrower shall
<br />have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at anytime prior to entry of a judgment enforcing this
<br />Mortgage if: Is) Borrower pays Lender all sums which would be then due under this Mortgage, the Indebtedness, had no il"eleration oecured: (b) Bor•
<br />rower cures all breaches of any other covenants or agreements of Borrower contained in this Mortgage; (c► Borrower pays all reasonable expenses in
<br />curred by Lender in enforcing the covenants and agreements of Borrower contained in this Mortgage and in enforcing Lender's remedies to provided
<br />in paragraph 17 hereof, including, but not limited lo. reasonable attorney'@ fees: and (d1 Borrower takes such action as Lender may reasonably require
<br />to assure that the lien of this Mortgage, Lender's interest in the Property and Borrower's obligation to pay the sums secured by this Mortgage shall
<br />continue unimpaired. Upon such payment and cure by Borrower, this Mortgage and the obligations secured hereby shall remain in full force and effect
<br />as if no acceleration had occurred.
<br />19. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. As additional security hereunder, Borrower
<br />hereby assigns to Lender the rents of the Property, provided that Borrower shall, prior to acceleration under paragraph 17 hereof or abandonment or
<br />the Property, have the right to collect and retain such rents as they become due and payable.
<br />Upon acceleration under paragraph 17 hereof or abandonment of the Property, lender, in person, by agent or by judicially Appointed receiver,
<br />shall be entitled to enter upon, take possession of and manage the Property and to collect the rents or the Property, including those past due. All rents
<br />eoilected by Lender or the receiver shall be applied first to payment of the costs of management of the Property and collection of rents, including, but
<br />! net limited to, receiver's fees, premiums on re-tolver's bonds and reasonable attorney's fees, and then to the sums secured by this Mortgage. Lender
<br />(f� and the receiver shall be liable to Account only for those rents actually received.
<br />'L0. FI;TURES ADVANCES. Upon request of Borrower, Londer, at lender's option prior to release of this Mortgage, may make Future Ad
<br />,ones to liorrnwer. Such Future Advancen, with interest thereon, shall be secured by this Mortgage when evidenced by promissory notes staling
<br />'hot said notes are secured hereby. At no time shall the principal amount of the Indebtedness secured by this Mortgage, tint Including sums advauerd
<br />„= Arrordanra herewith to prated the security of this MorlgAge, exceed 0_sv�?
<br />"_': RF:LEAKY. Upon payment nl oil sums sarurad by this Martgage, Lander shall rtisrhArge 049 Mortgage withVIII charge to Horrawer Hor
<br />rawer sham I,sy all rants of eerordalhm. if any
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