|
net extend or postpa2ta the due data' of ti,:• ntc,nthiti i;tsta}},reents referred to in paragraphs 1 . nd 2 hereaf or
<br />change the amount of such instetlntents.
<br />IC. Tfarrowerldof &eloased. lixtensian of the flare far paynteni. or mvdificativn of atnartization of the aunts
<br />secur+>d t;y -this ~Iartgage granted by f tinder to an}- successor in interest of Borrower shalt nvt operate to release,
<br />in any ntanlter; the liability itf the ori~it;s} I3orror€-rr a?:d Borrav.rr:s successors in interesv. Lendor shall not be
<br />required to camtnenet=. prareedings against such suceessar ar refuse to exteT2d time for payment or otherwise moth€y
<br />amortization of the aunts seeured irv this Mortgage }ty reason of any demat:ci made by ttte origins} Borrower and
<br />Isrtira~'€:r's StiCC."^a=tics in 2nteresi=. . .
<br />i.s ..~ r4.
<br />II, ~Ar~r~iioe bg Lender Zdo# a ~Yaiver. ~n.° forbcarancr. by L~~+der in axe ~;sir.g any ~~g~>~ .,s . ,,
<br />}}~e.~uuu'er, r,; av e~~a affard° t_,.a}d,. }t,2 , <l,~tl „ot be =i iraiver of or preeinde the exercise of any righi
<br />3w:' , _
<br />or remedy hereunder. The proeureritent of irsursnce ar t i ~_cr,t .ai' taxes ar othe lien°.- or charges by Le?:der
<br />"~ shell net l,e a waiver of Lender's right to accelerate the matu22ty of the indebtedness secured by this Mortgage.
<br />I~. Bazoodios Cteznttlative. ill remedies irovided in Phis ~ilortgage are distinct and stimulative to any other
<br />-•--d ~' ; ~=ffarded lt,. la;{- ar equic~-. earl may be exercised concurrently, ii;dz'~end-
<br />z-~, r;gnt ar rC_~euy 4nc2er €,.:s _;Iartgage .,. ~ ,
<br />"'"' early ar SttCei~a_Sivel'. -
<br />.~ l~. Stxscessars and Assigns Bound; Ioinf and Several LaahiLity: Captions. The covenants and agreemenf~
<br />-~+ herein cotatainesi shall bind, and ti-,e rights hereunder steal} inure to, the respective st2ceessors and assigns of Le2ider
<br />~ and Barra:ver, subject to the pros=isians at paragraph 1'r hereof. y}l cotenants and agreements of Borrower shall
<br />re ; be iainc and severe}. The captions and }readings of the paragraphs of this Mortgage are for convenience on}y-and
<br />are not #~ be used to interpret ar define the provisions hereof.
<br />}.;, uo'uLe 'ray n;;t;^e *^ tzarratt,-v-- p,a.-i,iod far in this Storteaee sh:a1} be given by Tnailing such natice by
<br />certi fed snail addressed to BorroFt'cr st t}te Yropertti- Address stated be!oty, except for any notice required under
<br />paragraph I$ hereof to be given to Borroter in the manner prescribed tr}- applicable luti,. any notice provided
<br />far in this 1lortgage shall be deeured to have been giver: to Borrower ;vhen given in the manner designated herein.
<br />Ib, Ilaifozm Mortgage; Go4err2ing Law: Sevezahility. This fanu of uortgage combines unifann covenants
<br />for national use and non-uniform covenants wiih limitc.i ti•ariatians ln* ;urisdiction t.o constitute a u22ifarm secu-
<br />rity instrument covering real property. Titia lfortgsga steal! be gaventec} be the law of the juristiietion in which
<br />the Property is located. In the event that any procdsior. yr clause of this~olortgage or the date eonAicts with
<br />applicable law, such cont3ict shall net affect other }tro.isiona of t}tie- 3ortgage or the I1ate which can k;e given
<br />effect without the canfiicting provision, and to this. erd tl2e provisions of the .'.Iortgage and the Mote are declared
<br />x be severable.
<br />I6. Barrowei s Copy. Borrower shall t>e furnished n conformed copy of this _lortgage at the time of execu-
<br />tiara or after recordation hereaf.
<br />I7. 'Frari~c+r of flee FFro~rty: Assumption. If all ar any part of the Property or an interest therein is sold
<br />ar t.•ansferred by Borrower without Lender's prior written consent, excinding (al the creation of a Iien or eneiim-
<br />brance subordinate ca this Sartgage, (bl fire creation of a purcha~ Tnoiaey security interest far household appli-
<br />ances; (e) a %ra2tsfer by devise, descent or by aperatian of lan upon tl*.e death of s joint tenant or (dl the-grant of
<br />any leasehold interest of three years or leas net containing an option to purchase, Lender 2nay, at Lender's option,
<br />declare all the sums seeured by this 14lortgage to be imr=Tediate} cne anti payable. Lender shall haee waived-such
<br />aptio€2 to aceelerat~ ii, prier to the sa}e or transfer, Lender and rife trersan to whom the Prape2•ty is to be so" °°•
<br />transferred r+aeh agre~ni~ rat in writing that tine credit of su^tt lrersan =.s satisfactory to Lender and that the interest
<br />;savable on the sutras secured by ibis 'tlorigage shall be st such rate •as Lender shall request. If Lender has waived
<br />the orstian to aeeeierate provided in tl2is paragraph I i and if Borroteer`c suesessor in interest ltas e?teeuted a wi-i~-.
<br />te,-T assumatian agreement accepted fit writing lay Lender, Lender shall release Borrower from all obligations under
<br />- th:v art~-~e and tfie A`at£. -
<br />if Lender a#e2'Clse$ SUCK option to aCCel£rate; Lender steal} TnaTl Borrower naf2CC Ot aCCeleratian tR aCCardSIIGe
<br />;with paragraph 14 hereaf. 5urh notice shall provide a period of not less than 3f3 o'at's front the date tlr~ notice is
<br />mailed tvitltin which Borretver• rnsy pay the sums declared :lue, if Borrast-er iai?s it+ pay such sums prier to the
<br />expiration of such period, Lender may. ;vitlTOUt further natice or %ieniand on Borrower, invoke any remedies per-
<br />- r..itted bj--p;.c`agia°yii iv i2~r~.
<br />~ipli-~'*ri^oxt,t CovExa.sTS. $arrow2r and Lender farther covenant. and anr~e as foltti~rs-: - _
<br />I8. Actaleration: Beuiedies. IxetjTt a= vT-v.ic,ed in ir.eragrtpl, 1"r hereoT, upon Borrower's breach of-an}
<br />covenant or agreemnni of Barroh•er ht this ~Iot~gsgc, inr}u,#irg the covenants to pay When due any suns-secured
<br />by this Mortgage, Lender prior to accelerstia2r shall nr2i; natice fo Bvrratvc;• as l+ravid3ci in paragraph l4=}tersaf
<br />specifying: fli the brearlr; t2) ilte zrtian rce;utreti to cure sue}; !,reach; t3) a date, not }ass tliati thirty days
<br />from the date ti,e notice is tuttilesl to Borra2cer, E;_- rr32ich suci: breach must be cured: and t~) that failure to curd
<br />such breach rt, or tsefare the date specified i=.r rite notice nttiy result in acre}eratian of the aunts seeured by t-his
<br />~Iartga};e and sale of the Prapert}'. If the hresrh is not cure*1 en yr befarr tl.e date specified in the natice, Lender
<br />at. LoT:dar's flptian utay d"~iwrc- '?ll o_` th+~ suns secured b}• this aortgage to ie imtncrdiately due. and payable
<br />without further demand and saes 3ar~rivse *iti~- i.ortgarc la;- rnd:<•iai }':roceevinK. Linder shall he entitled to ealleet
<br />in such proceeding all expense: ai fnr;•closure. inr'sttciit;g. hr.z sot :baited ta, casts of documentary eErzdenee,
<br />abstraety and title re}~art;.
<br />LS. $Iaaxavoer's $igPcf to Tin.na'rato. Sotwiti,statiding Lender's c:cceleratian of the sums seeured Isy this
<br />;ilfrrt~age, Borrower shall have ilte right to i'is=°r :t2:- ; .ices <zmgs becun by I.enicr to enfarec this 3lortga,ge dis-
<br />contir,ua. at any time prier to entry of n jud2r,,ec,' ::=°~ircing thi-: _`.Iartgsga if: ~a1 Berrawer pays Lender ail
<br />sutras ~vl;icit would tie-then due under thi3 la~gage, the=°;ata ..tr€} ; at€;- x urin€ t utttr,~, ~dY~anee_s. if rsnv, had rats
<br />~Aceleratian are,~rred; fls) $orro~er cures ai} ha~•hc-:< of an-y of?SPr cov.~n.tnts ar agreement. of Barrmver ecx2-
<br />taitsari in z-h;s?tlortgage; (c? $ar:~5csr pad's all cease=a;tble xp€nses inrur.ett by Tender in rnfoning t}a? covenants
<br />tied agreements o$T~arrawer euntasincd in this :4tortgage and in s:nfatt~ing Lender's remedies as provided in para-
<br />gr&plt 2& hemof, including, but nat. 3i?x2iteel ta, reasonable atto;•ney-: t"ee.~: and td's Ba*roaer take` such artian as
<br />I.~nder tz;ey retislsly require ~o asa~irc that the lien of this llartgage, Lender`s inurest in t('ie Property- a22d
<br />Ba!arswer's ablig~tiait tci easy the suns secured by this 1loetgage shall continue uniinlsaired. Lean such ~rayrs~t
<br />and coca by ~©r*c.~e*: this ~iox~tga2e and tine abligstians seeured herak?v shall remain in fttli force and effect ~ if
<br />na aeeeleration had ocetirred.
<br />2a. R3~i43s:eartt of Benin: ~ppxsisifxttertf of Receiver: Lttrtder it Trcissefs?iort. ~• addiiionai security here-
<br />uacler,Borro~er ni-cb~' a re;ns te. Len,tei'tlie rent:: hf the Pi°ti}~ei~y k r~n•~•lix3 that Harrower shall, priorta acccler-
<br />' ati6u under par.tgi~nph I~4 hcreei rr abandonment of the Propegt3, have +he right, to ~ olieet 3~d retain such rents
<br />;~tbavbn.~o.::^. lttc ~n~3 *_+ `ahl~: -
<br />IrptyrtaCCetezBtiuu nn~rr, Tsarag~pb,2S #turaot" yr aF,inc:antitc~'tt ei i::2 Yra}>ert~', Icndnr. in ;?ersan, b}• agent
<br />ar by judicially appointed receiver shall fie e>rtitleei to enter ;i#;an, taTxe pa~.ucss}ar+ of and 2nansge the Property
<br />arid trr collect the rent(3 of the 1?roperty, includitg [ha;e-past due. ill rents collected l,y I:ender or the receiver
<br />=l:alk be applies! firsttti paynttnt of th;: casts of nttirisgeereut of the Praparty and enllection of reef=, including. l;ut
<br />net limited to, receiver"s fees, premiums an receiver's banl# and reasonable sttorne~'s fe+as. and then to the sums
<br />~°cured by this Mortgage. Lender and the receiver shall ba Iiable to account only for those rants setnallp' received.
<br />
|