|
~-_'
<br />hat extend or postpone the duc date of the znotrthly zast;clhnents referred to in paragraphs 1 and 2 hereof ar
<br />oboe?ge the amount of such installments.
<br />IQ. $orrawer Not Released. L'xtensiou of the tinge tar 1>ayn?ent ec• modification of amortization of the sums
<br />secured by-this Mortgage granted b}• Lender to any successor in intere,t, of Harrower shelf not operate Lo release,
<br />in any rnanricr, €f?e liability of the original Barroteer and Borrower's euccessar in interest. Lender shall hat be
<br />required to epmnzenee proceechugs against such successor az• retuse to extend time for payment or otherwise modify
<br />amortization of the sums secuzed by this Mortgage be reason at a:?}• demand made by the original Borrower and
<br />Borrower's sueeessars iri interest.
<br />1i: s•oriieax^arrce sy Lender 1.'dat rs'..oleo.. Any farh~sraaee 1;-• Lender in exercising any right, az zernedy
<br />hereunder, or otlaerviise afforded by applicable law, sha}f hat he a wasaer of ar preclude the exercise of any right
<br />ar remedy hereunder. The }*rocureme??t of insurance or the payment of taxes or other liens or charges by Lender
<br />slihll nc~t be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />i2, Kemeaies%uanulative. Aii remaiies provided in ti?is _'-Iartgage ere diet"snc} and cumulative to any otlser
<br />,.~ right ar remedy under this Mortgage or afforritsi by late ar equity, and may he exercised concurrently; independ-
<br />errtly or successively.
<br />I3. Successors and ltsaigas Bound; Taint and Several Liability; Captions: The covenants and agreements
<br />herein. contained shall bind, and the right; hereunder shall inure to, the respective successors and assigns of LQnder
<br />and Harrower, subject to the provisiots of paragraph 2 s hereof. All covenants and agreements of Harrower shall
<br />~q 6e joint and several. The captions and headings of ehe paragraphs of this Mortgage are for convenience only and
<br />~ are hat is oe used to inte~ret. ar de,.,,z ~:,~- z:,~.,~..,..., ,.t«~..
<br />I4. idotice. An}• notice to Borrower provided for in t}cis Mortgage steal! be given by mailing such notice by
<br />certified mail addressed to Borrower st the Property Acfdre<_ stated below, except for any notice required under
<br />paragraph I$ l:ereaf to he given to Barraner in the :canner prescribed lay applicable fate. Any notice provided
<br />for in this Mortgage ehsll be deemed to bare }seen giver. to Harrower ~~-hen gia•en in the manner designated Herein.
<br />I5. [7niform Mortgage; Gaveznin3 Law; Severabality. This form of mortgage combines uniform covenants
<br />far national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform secu-
<br />rity instrutnxnt covering real property. This Mortgage shall lx governed by the late of the jurisdiction ire which
<br />the Property is lcrated. In the event that any provision ar clause of this Mortgage or the irate conflicts with
<br />applicable law, such conflict shall not affeM other provisions of this \1ot•igage or the Pate which can be given
<br />effect without the conflicting provision, and to this end the luavisioas of the Mortgage and the mate are declared
<br />to ae severable.
<br />iri. $orrowei s Copy. Harrower shall he furnished a conformed copy of this Mortgage at the time of execu-
<br />tion or after recordation hereof.
<br />I7. Transfer of the Property: Assumption. if sli or any part of the Property or an interest therein is sold
<br />or transferred by Borrower without. Lender's prior writter. consent. excluding (al the creation of a -lien or encum-
<br />brance subordinate to this \Iartgage, {b}-the creation of a purchase n:aney security interest for household appli-
<br />snces, (el a transfer by devise, cieseent or ley operation of law upon ?he death of a joint ferant. or (d) the grant of
<br />shy leasehold interest of three years or less not cantsiniag sn apsion to purchase, Lender may, at• Ixnder's option.,
<br />declare all the Sums secured by this P•Iorgage to be inu??ediately due anal payable. Lender shell have waive-ci ~_.:h
<br />option to accelerate it, prior to the safe or transfer, Lender and the person is :Thom the Property is to be sold ar
<br />transferred reach agreement in writing that the credit of sac}z persot: is satisfactory to Lender and that the interest
<br />paya[sfe on the sums secured by this _l°Iartgage shall Le at suciz rate ss Lender shall request. I= Lender has waited
<br />the option to accelerate provided iri this l;arsgraph Ii and it Borrower's successor in interest has executed s writ-
<br />ten assutr~ptian sgreemeat accepted in tvr-iting by Lender, Lander sitali release Borrower from all obligations under
<br />this I4iortgage and the Prate.
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower nonce of acceleration iu seeordanae
<br />:vial: psrsgrapH 14lrereof. Such notice shall provide a period of rot fens than 30 clays from the date file notice is
<br />mailed within which Bo=-rower mac pay the sums declared duc. If Borrower fails to pay such sums prior to the
<br />expiration of suer. period, Lender rr:av, ~-itiaut fu,~t.c-r nati,e a.• demand art Harrower, invoke any remedies p°t•-
<br />muted by paragraph is hereof.
<br />~av-i.'^rrFa::~r C"ovs'rax~. Barroteer anti Tender >'urther vas=errant rend agree as follows:
<br />I8. Acceleration; Remedies. 1':xvelx as provided in paregr:tl+h 17 hereof, upon Boerotcer's breach of any
<br />ecvenant ar agreenaeiri of Borrower in this \Iarteas:c, mcluding th+ coven tot ta,tsat nf•ea~rlue any Burrs securer
<br />by this 1'forigage, Lentfer prior to aceele*atiaa? Khali mail nonce fo l~oa~u~ as,~t3it~c. ~ paragraph l4 hereof
<br />°`° 3 than thirty da}~s
<br />specifying: fl} the breach; t2i tl:c action roquued to eu?e such hrc;•ze~~ `~> ,~ -,
<br />from the date the native: is matlect to Borrower, hr u::ivh <ezci~ bxsci. ,,.act nc ru~, antt ."':', _i±at failure to cure
<br />such breach on ar before the date -pevified in fire noire may result in acceleration of the auras secured by this
<br />'viartgage and laze of tl:e Prafscri-y. If fete hrr~avlz is not cured or. ar hefine ±l}c date specifierd in the notice, Lender
<br />sG Lender's option may declare sli of the sun?s seeared h4 this Mortgage to he immediately due and payable
<br />4uithaut further demand and mac ferer•1c+se tizis ~lartcage by jttdiciat proceeding. Lcndar shat bs entitled to collect
<br />i?? sttei; , rcceeding alt expenses _a ;an_v}aurc. inrlutling, teat not lin?ited ta, casts of daemnentary evidenoe,
<br />abstracts and title reports.
<br />19. $orrts~.eis RighF to Reinstate. ~otn'itf;.,ta::ding Lender's acceleration of the sums secured by thin
<br />14: ~•t-gage, Harrower shall hsvo the rig!?t to have :bn}• proceedings begun hp LPndcr to enforce this il4ortgage dis-
<br />continued at any time prsar to entry of a fudgment enfa}•eing tl?is 1lcrtgage if: tai Borrower pays Lender all
<br />s:tnss which would ~ then due under this _tiartgsgc, the `;ate ami notes securing Fu*.ure Advances, if any: had no
<br />aceelazation occurred; ib1 Harrower cure- nii bre..ches of ani- other cacenanis or agreements of Harrower con-
<br />tained in this ~.fortgage; (e) Harrower pays ail ?rasonahle expenses invurietl by fender in enforcing the eavenants
<br />and agreements of Borrower eantained in this ldartgage and in enforcing Lender's remedies as Irovided in para-
<br />. graph 2$ lrereaf; including; teat hat limited tc,, rett,~ataabie sttarney's tees; anti td } Borrower taffies sueH action as
<br />Under may reasonably require to assure that the lien of this Mortgage, Lender's interest. iri the Property and
<br />Ho>•rawer's abfigation ter pay fire sums secuzed by this ~iartgagc ,hail continue unimpaired. tTpon such payment
<br />ar~d gaze 6y P.arraw-er, ttis :ltartgage and the obligations .cured laereb}• shell remain in fail force- and effect as if
<br />na saaeleratian had occurred.
<br />Z,ti, nt of ltratts: Appointment ot. Rseefver: ?.ender in Possession, As :ulditianaf eaeurity ;?ere-
<br />triirler, $arroner hasehy assigns to Lender t:He rents of tlsc Pzajrerty. jiroricltul tlsat Horrotser sirs{l, prior to aceeIer-
<br />• atitrn Vie; par•Hgr€rph IS hereof far abandonment o€:the.Praperty, have tl?e right to collect and retain ;SUeH e`en#s _-
<br />as-they lsecame due a>;d payable:
<br />t7pon acceleration under paragraph`18 hereof ar aimndoirtrient of -the Prop2rt}': Lender, in liersan, by agent
<br />ar by judscially appointed receiver ~Ha1I-Ue entitled Ea ent.sr upon. take possession of and manage the Property
<br />and to col3eet iHe rents of the Property, including tliasc lager due: At) refits collected ley Lender or the receiver
<br />shall be applied first to payment of the costa of management of the Property end collectii,n of rents, including, teat
<br />hat limited to, receiver's fees, premium, tin reedeer's 1;^,;,[tls and reasonable a4torney's fees. and then to the sums
<br />secured by this ~3artgage. LQnder and ehe_ receiver shall be liable to account only for those rents actuallp received.
<br />
|