|
<br />not extend or postpone ilre due date of #hc monthly installments referred to in paragraphs 1 and 2 hereof or
<br />change t.le amount of such installments.
<br />i0, Ilorrawer Not Released, llxtension of the t-erne for pacmant or modification of arnartization of the sums
<br />secured by thislZortgage gras-tted law I.ecder to any successor it=rnterest of Borrower shall not operate to release,
<br />in any n?anner; the 7ialaiIity of the original Borrower and Harrower's suecessara in interest. I:ender shall not be
<br />required to rommetiee proceedings against such successor m• refuse to extend bane for payment er othere~ise modify
<br />anaortiaatian of the sun}. secured lay tF3is .llartgage ley reason of au}• demand made by i,'tte original Borrower and
<br />Fsorrower's successors in interest.
<br />II, Fozbear8ace by Leader Not a Waiver. any forbearance by Lender ir. exercising nny right or remedy
<br />l;er~~nder, ar athenvise a€fard~d by applicable Saw, shad Hai be a wai:rer of or preclude the exercise at anq rgh„~
<br />ar remedy lereunder. The i?r,etarer£??t=.t of insurance or the ;kayment of taxes or other liens or charges by Lender
<br />shall roe lee a waiver of Lender's right: to accelerate the maturity of the indebtedness secured by this iSartgage.
<br />",,~ I2. Remedies Cumulative. 31l ren?edies prarided in this taortgage are distinct and cumulative to any other
<br />right or remedy under this tiorgage ar aftanled l,y lore ar rritrt_ . an<z may he exercised concurrently,-independ-
<br />entry or successively.
<br />13. Successors sad Assigns Ilauad; Iaint mad $evcral Liability; Captions. -The covenants and agreemen#~
<br />herein eontMined shall bind, and the riglts hereunder shall imtre to, the respective. successors and assigns of Lender
<br />and Borrower, subject to the provisions of paragraph i ; hereaf. X11 covenants and agreements of Harrower shall-
<br />•- be joint and several The captions and headings of the haragraPh~ of rhis \iortoaga are for convenience only and
<br />~ are not to be used to interpret or define the Promsiono hereaf. -
<br />~ I4. Notice. ~~nv notic_e to Borrower pravicied for in d?is taortgage sha11 be given by mailing sucF notice by
<br />certified mail addressed to Borrower az the f'rapertc -~dch-es~ si;ited heiaty. Uxez?pt for env notice required under
<br />paragraph I& hereaf io be given to Borrower in the manner prescriiaed t,v applicable law. 9ny notice provided
<br />far in the taortgage shall le deemed to have been given to Borrataer wlren given m the manner designated herein.
<br />i5. Uniform Mortgage; Governing Law; Severability. This torn; of taortgage combine: uniform covenants
<br />for national use and non-uniform coverants whit limited variaiiotrs by iurisdiction to constitute a uniform secu-
<br />rity instnrmen*_ covering rest property. This llor,gage shall he goveme~3 by the law of the jurisdiction in which
<br />the Property is located. In the event that an_r- provision or clause of this Mortgage or the date conflicts with
<br />applicable law, such conflict shall not aiLeet other provisions of this taortgage ar the Note which can be given
<br />effect without the conflicting provision, and to this end the provisions of the taortgage and the Dote are declared
<br />to be severable.
<br />I&. B©zaawaz's Copy. Borrower sha11 be furnished : carformed cagy of this 3orggage st the time of execu-
<br />tion or after recordation hereof.
<br />17. Transfer of the Property; Assumption. If all ar• any part of lire Property or ar? interest therein is sold
<br />ar transferred by Borrower without Lender's prior writter. consent, excluding i a s the creation of a lien or eneum-
<br />brancc subordinate to this 14tortgage. tbi the creation of a purchase move}- se;urity interest fvr household appii-
<br />ances, (c) a transfer ly devise, descent or by operation of law anon the death of a joint tenant or rd) the grant of
<br />any Leasehold interest of iitree years ar 1e~4 not containing an option to purelrase, Lender map, at Lender's option,
<br />dariare all the sums seeure~ by ibis 3vlorfgage to be isrxrnediately due :and Pazsble. Leader' shall-have waived such
<br />eptian #,a accelerate if, p ar t° the sale ar transfer, Lender and tle person to whom the Property is to be sold or
<br />transfe*red reach agreement in writing that the credit of such peason is satisfactor}- to Lender and that the iatorest
<br />gayalals on the sums secured by this Mortgage shall le at such rate as Lender shall request. If Lender has waived
<br />tie aptioa to accelerate provided in this paragraph 1 r' and if Borrower's successor in interest has esscuted a wrtif-
<br />ten assumption agreement accept~t in :writing by IPnder, Lender shall. release Harrower from ail obligations under
<br />Lhis Ivlortgage and the i4ote,
<br />Zf Lander exercises such optic?: to accelerate, Lender shall nraii Borrower notice of aceeieration in accordance
<br />with paragraph 14 hereof. such notice shall tnavide a period of not lass bran 3U days from the date the notion is
<br />ntaiied within which Borrower may p;.y the canes declared. due. If Harrower fails to p,ay such sums prior to the
<br />expiration of such period, Lender may, sritlaut ft.rti;er notice or demand on Borrower, invoke any remedies per-
<br />rnitxd by paragraph 18 hereof.
<br />No:r-ITxiFOaty[ Gat•s;sasr~. $orrewer ar><~1 Landerfurt.her covenant and agree as follows:
<br />I$. Acceleration; Remedies, Bseep:t :is l,o~:i~Ie, iu l~arngrapi~ is ltereoi. upon Borrower's leeaclr of any
<br />covenant ar agreement of Harrower in this arrtr'ire•. irrluciing the covenants to pay when due any sums secured
<br />by ',.his taortgage, Lender briar to acceler:stton ,3tt r ,.tit niatice to I3o rrrti-et as provided in paragraph I4 hereof
<br />specifying: (I) the breach: a2± t}?e actren rectal- 71 ••-o eu~c saver rxea~~i('(~r~,e date. not less tha^ thirty days
<br />from the date the nntiec is ntailecl io 13orron+Tr l.} ~ F:reh •zacls trre~clt r7u~a~e rw-cal; acrd {4t that failure fo cure
<br />su•~l: breath on ar before the date specific-c in rite novice tuay :•esnlt in aceeleraiion of- tiro sums secured by this
<br />Mortgage and sale of the Proi=erte-. if the Bread i~ Hai curet: or. ar 1?eiare the date specified in the notice, Lender
<br />at Lender's option tnav cieclsre all of the sutra= secured b}- the; taartgaage to be immediately due and payable
<br />without further demand and may foreriose ^;..:> Slartgag~~ b}' u,licial proceeding. Lender shall ire entitled to collect
<br />in snob proceeding all expenses of fare-il:?su ~. incl+.uli*rg, hu*_ not liruiteti to, casts of doeumentan• evidence,
<br />abstracts and title reports.
<br />I9, Barrawrer"s BigZrt to ReitsYtcte. \ata;its.,taadinx uc~t?drr•s acceleration of the smlr3 secured -lay- this
<br />Mortgage, Borrower shall have t"he right to lave ens proceeding; begun by Ixnder to en#orte the; ~ tortgage drs-
<br />continued at any time- prior to entry of a jud~,sent erfaTeing this taortgage if: fal Borrower pays Lender aA
<br />sums :ahielt would be then due under this \,ortgage: il3e date an,l Hates securing Futum Advances, if any, had no
<br />aceeleratios acttrrred; (la) Borrower sores all hmacles of any oilier revenants or agreements of Borrower. eon-
<br />tsiined in this Raortgage; {c) Bormwer pays a14 reasonable expe.,ses incurred by Lender in enforcing-the covenants
<br />and agreements bf Ziortroa*er contained in this taortgage and era enforcing I.enderr remedies as provided in parn-
<br />graph 28 hereaf; including, Taut not limited to, reasonable attameys fees; and +d} Borrower takes such action ~s
<br />bender may reasonably req;rire to assure that the lien of this taortgage, Lender's- interest in-the Property and
<br />Borrower's 6iiligation to pay trite slims secured lay this Morttgage shsff continue unimpaired. Upon such payment
<br />amI-cure by $larIQwer, this Mortgage and the obligatiarz.~ secured hereby shall retnaiit in Iull fgree and affect as if
<br />nn atcaleraEiari had.ocetirred,
<br />~#!. AsAig~teat of °R~ats: Pigsne~tt -of Baez; Lendgz is Possessissn, Aa xilditinnal seeairity heie-
<br />u~a=, Bortotrer hereby a~i to Lender tfre rents of the Property . proc•icleil tha6 Borrower shall, rarior to acceier-
<br />atian iind~t paragraph IS hereof or alaandonnient of tide Fraperty, hate-'the right t© collect and retain-such rents
<br />ss theY 6eeashe dire and-paj*abae:
<br />Ltpors ae¢eieration utsdez paragraph 18 herer~i or atrandonment of 'the Property, Lender, in person, 6y agent
<br />or by ittdieially appointed recKiyar`sltall lee entitled to enter-open, takg possession of and manage the Property
<br />and to collect- the rents of -the Property,.including those past €#ue..~ll rents .collected lay Lender or the receiver
<br />shall-be'applied first to payment of tree coasts af-'management of the Prnperty and Collection of rents, including. lint
<br />-ot limited to, receiver's fees, prerriiums- on receiver's bonds and i•easonable attorney's fees, aml then to the sums
<br />secured b_Ythis 1orttgage. I,e~ader and the te~icer shall he liable to arcarint only for those rents actually received.
<br />
|