<br />
<br />not extend or postpone the due date of the monthly instsllnu•nts referred to in l~;aragraphs 1 and 2 hereof or
<br />change the amount of such installments.
<br />I0. Borzmver Riot Released. Extension of the time for payment m• modificat.ian of amortization of the sums
<br />secured by thisl~iortgage gestated by Lender to any successor in interest of Borrower shall net operate to release,
<br />in any manner, the liability of the original Bm•rower• and Borrower's successors in interest. Lender shall not be
<br />required to commence proceedings against srielr successor w• refuse to extend time for payment or otherwise modify
<br />amortization of the sutras secured by this Mortgage by t°eason of amp demand made by the original Borrower and
<br />Borrower's successors itr interest.
<br />ii. For$ear~;ce by Leader 14at a t,'daiver. Any forbearance by Lender in exercising any right or remedy
<br />lereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any right
<br />~ or remedy hereunder. The procurement of insurance or the payment of taxes or other liens or charges by Lender
<br />~, shall not be a waiter of Lender's right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />~`,~., 12 Remedies Cumulatve. 911 remedies provided in this Mortgage are distinct and cumulative to any other
<br />,~ right or remedy under this .Mortgage or afforded by law or equity, and may be exercised concurrently, independ-
<br />ently or successively.
<br />13. Successors sad-Assigns Botmd; Toiat and SQveral Liability; Captions. The cotenants and agreements
<br />-' herein contained shall bind, and the rights hereunder chat' inure to, the respective successors and assigns of Lender
<br />and Borrower, subject ko the protisions of paragraph 17 hereof. All cotenants snd agreements of Borrower shall
<br />~, be joint and sereral. The captions and headings of the paragraphs of this \[ortgage are for convenience only and
<br />are not io be used to intxrpret or define th-c provisions hereof.
<br />14. Notice. Anv not.icc to Borrow•ar provided for m this _lortgage shall he given by mailing such notice by
<br />certified mail addressed to Borroter at the Property Address Butted below, except for any notice required under
<br />paragraph 18 hereof to be gircn to Borrower in the manner prescribed by applicable law. Any notice provided
<br />Far in this lortgage shalt he deemed to hate been given to Borro~ter when given in the manner designated herein.
<br />i5. rJniform Mortgage; Governing Law; Sevezability. This fornt of mortgage combines uniform covenants
<br />for national use and eon-uniform cotenants with limited variations by jurisdiction to constitute a uniform secu-
<br />rity instrument covering rest property. This Mortgage shall be governed by the law• of the jurisdiction in which
<br />the Property is located. In the event that env provision or clause of this Mortgage ar the Note conflicts with
<br />applicable law, such conflict shall not affect other protisions of 'this Mortgage or the I~tote which ears be given
<br />effect without the conflicting provision, and to this end the protisions of the llortgaee and the Note are declared
<br />to be severable.
<br />16. Borrower's Copy. Borrower shall be furnished a conformed copy of this 1ortgage at the time of execu-
<br />tion or after recordatior. hereof.
<br />17. ?raasfer o$ the Property; Assumption. If all or env part of the Property cr an interest therein is sold
<br />or transferred by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encum-
<br />brance subordinate to this Jortgage, lb) the creakion of a purchase money security interest for household appIi-
<br />anees, (c) a transfer by devise, descent or by operation of ise upen flee death cf a joint tenan± or (d) the, grant ~*
<br />any leasehold interest of three years or less net containing an option to purchase, Ler;der tnay. at Lender's option,
<br />declare all the sums secured by this Mortgage to be inunediately due snd payable. Lender shall have waited such
<br />option to accelerate if, prior to the sale or transfer, Lender and the person ~o whom the Property is to be sold ar
<br />Transferred reach agreement in :exiting k.lta+, the credit of s ~alr person is satisfactarv to Lender and that the interest
<br />payable on the sums secured by this \iortgage shad be at such rate as Lender shall request. If Lender has waived
<br />the option to aacelerate provided in this paragraph 17 and ii Borrower's successor in interest. has executed a writ-
<br />ten assumption agreement accepted in writing by Lender, Linder strait release Borrower from alt obligations under
<br />this l~lot•tgage and the Note.
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower natiee of acceleration in accordance
<br />with paragraph i4 hereof- Such notice shall protide a l;eriad of not less than 30 days from the date the notice is
<br />mailed within which Borrower may pay the sums declared due. It Borrower fails to pay such sums prior to the
<br />expiration of such period, Lender may. without futther notice or demand on Bbrrow~er, invoke ant remedies per-
<br />mitted by paragraph 18 hereof.
<br />ltox-~?:.tFOant ~'acs:xaxTS. Borrower and Lender further covenant and agree as follows:
<br />i8. liccela:ction; Remedies. Excep+, a- }>ro• i<t,•,t in t;aragrapt, t; herea, upon Borrower', breach of env
<br />covenant or agreement of Borrower hr this liar*.gagc. including the cotenants to pati• wirers tint any aunts secured
<br />by this Mortgage, Lender prior to acceleration -halt nutii notice to Borrozce:• as protrdcd ir, paragrapl; l4 hereof
<br />specifying: II} the breach: 12r the attars rcyuired to cwt suelr breach: iii a ;late. net ia~ than thirty days
<br />from the date the notice i.= mailed to Borrower, ht ~t l:ielr sucl: hrearl+ crust be cured; an+1 i~ i that failure to cure
<br />such breach an or before the date specified in the notice ;nay result in acceleration of tin• sum> secured by t'tris
<br />1~fortgage and Sala of the Ptnpeety. if the Fireaclr is not cured on ar t>zfara rift date -peritied ir: flu: notice, Lender
<br />at Lender's option may declare al's of the awns secured be this Alortgagr to be intna~~cliateh• due and payable
<br />without further demand and mac ioreciase this .Mortgage by judieiat] proceeding. Lender shall tm entitled to collect
<br />in such proceeding ail expenses of foreclosure. including. but not iimimd to. costs of + ocrnu~ntary evidence;
<br />abstracts and title reports.
<br />19. Botzoweis Right to Reiastate. tiotwithstanciing Lender's acceleration of the =urns secured by this
<br />Mortgage, Borrower shall have the right to hate any proceedings begun by Lender to enforce this Mortgage dis-
<br />continued at any time prior to entry of a judgment enforcing this Mortgage if: tai Borrower pays Lender all
<br />sums which would be Then due under this \Iortguge, the \ote arxl notes securing Future Advances, if any, had no
<br />acceleration occurred; ib} Borrower cures all breaches of any other cotenants or :tgrc•atttenis of Borrower con-
<br />tained in this $ottgage; (c) Borrower pays all ressonahic expenses incurre,l by bender in enforcing the covenants
<br />and agreements of Borrower contained in this Mortgage and iu cntorcirrg t,cndet•'s remedies as provided in para-
<br />graph 18 hereof, including, but not limited to, reasonable attorney's fees: and td} Borrower takes such action as
<br />Lender may reasonably require to assure that the lien of this Mortgage. Lender's interest in the Property and
<br />Borrower`s obligation to -pay the sums secured by this Jortgage strati continue unimpaired. Upon such pa}•ment
<br />and cure by Harrower, trots Mortgage and the obligat%ons secured hereby shall remain in full force and effect as if
<br />no acceleration had occurred..
<br />~. As~gameat ~ Roofs; A;ppointmeat of Receiver; Leader in Possession. As additional security here-
<br />under, Borrower hereby assigns t4 Lender the Yeats of the Property. prodded that Borrower shall, prior t.o acceler-
<br />ation undei paragraph 18 hereof or abandonment of the Property, hate the right to collect. and retain such rents
<br />as they beirome due and payable.
<br />Upon acceleration under paragraph 18 hereof ar abandonment of tlae Property. Lender, in person, by agent
<br />ar by judicially appointed- receiver-shall be entitled to enter upon, take possesian of and manage the Property
<br />snd to collect the rents of the Property;ineluding those past due. All rents collected h}• Lender or the receiver
<br />shall be applied first. to payment of the costa of management at the Property and collection of rents, including, but
<br />not limited ta, receiver's fees, premiums-an receiver's bonds and reasonable attorney's fees. and then to the sums
<br />secured by this Mortgage. Lender and the receiver shsA be liable to account only for those rents actually received.
<br />
|