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rant extend or trostpone the due !Isle of tiu• t.toc¢f•r ;t'rstsiltcV€~=at> nrfc•rrc<I to ;;: ;r~arsgrapits I and '2 hereof cur <br />4;hange the tttnouni of sua:h instalime~~rs- <br />lU. Baaaowez Plot Released, Extension o'~f tltuu tidpit for ±,avauent nr uuoriificatior, of amortizat.ioa of tl!he sums <br />secured by this liorigsge granted by Il.ender to spy ~uraesor it: ipter:'st of Borroswc~ s'hal? not operatx to release, <br />in any manner, the liabilit}• of the original Borro•acr anti Borrows,-"= successors in interest, Lender shall not be <br />required to commence proceedings against such successor ar refs<e to extend time for aayment or otherwise modify <br />amortization of the sums secured by this \Iortgaoe by reason of any demand made bg the original Borrower and <br />Borrower's successors in interest. <br />11- Forbearance by Leader Plot a Waiver. Am- forbearance by- Lender in exercising any right or remedy <br />hereunder, or othernise afforded by applicable law, shall not be a wai'.-er of or preclude the exercise of any right <br />or remedy hereunder. The procurement of insurance or rite paytnent of taxes or other liens or charges by Lender <br />~ shall not be a waiver of Lender's riehi to accelerate the maturity of the indebtedness secured b}° this Mortgage. <br />I2. Remedies Cumulative. 9p remedies provided in this \Iortgagc are distinct and cumulative to any other <br />~ right or remedy under this \fortgag~ or afforded be ia,r or r• ;nit:-. an+i play bs exercised concurrently, independ- <br />~ entry or successively. <br />~ 13. Successors and Assigns Bound; Joint and Several Liability; Captions. The cotenants and agreements <br />-1 herein contained shall bind, and the rights hereunder =hail inure io, the respective successors and assigns of Lender <br />~ and Borrower. subject to the provisions of paragraph IS hereof. All covenants snd agreements of $orrower shah <br />i ~ be joint and several. The captions and headings of the paragraphs of this \tortgagc are for c~~ncenience only and <br />~ are not to be used to interpret or define the provisions hereof. <br />1„~ 14. Notice. ant- notice to Borrotvsr provided for in thi= ]tortgagc shall be given be mailing such notice be <br />rertifled mail addre-sled to Burrower ac the Property .lddre•ss stated below, except for sm- notice required under <br />paragraph IS hereof to be given to Borrower in rite manner prescribed by applicable late. ~n}• notice provided <br />for in this Mortgage shall be deemed to have been given to Borroter when given in the manner designated herein. <br />15. Uniform Mortgage; Governing Law; Severability. This torn of mortgage combines uniform covenants <br />for national use and non-uniform covenants with limited tariations by jurisdiction to constitute a uniform se~u- <br />tity instrument covering real property. This \tortgagc shall be governed by t-he law of the jurisdiction in which <br />the Property is located. In the event that. any provision or clause of this \iortgage or the Note conflicts with <br />applicable law, such conflict shall not. affect other provisions of this Mortgage or the Note which can be given <br />effect without the conflictitig provision, and to this erd the provisions of the Mortgage and the Note are declared <br />to be severable. <br />16. Borrowei s Copy. Borrower shall he furnished a conformed copy of this ~Sortgage at the time of execu- <br />tion or after recordation hereof. <br />17. Transfer of the Property; Assumption. If all or any part of the Property or 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 \iortgage, i b} the creation of a purchase money security interest for household appli- <br />ances, (c} a transfer by devise, descent or by operation of law upon the death of a joint tenant or (d} the grant of <br />any leasehold interest of three years or less not containing an option to purchase, Lender may, aG Lender's option, <br />declare all the stuns secured by this iortgage to be inunediateh- due and payable. Lender shall have waived such <br />option to accelerate if, prior to the sale or traneier; Lender and the person to whom the Property is to be sold er <br />transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the interest <br />payable on the sums secured by this \-iortgage shall be at such rate as Lender shall request. If Lender has waived <br />the option to accelerate provided in 'this paragraph I" and if Borrower's successor in interest has executed a writ- <br />ten assumption agreement accepted in writing by Lender. Lender shall release Borrower from all obligations under <br />this Mortgage and the Note. <br />I~ Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance <br />with paragraph 14 hereof. duck notice shall provide a period oP not less than 30 nays from fhe date the notice is <br />mailed within c+•hich Borrower may pay the sutras reclared duc•. Ii Borrower fails to pay .uch sutras prior to the <br />expiration of such period, Lender tray. •a-ithout fw7l:er notice m ,!eutaud on Borrower, iueokr ant- remedies per- <br />mitted by paragraph 18 hereof. <br />Nc~x-L''rtFaa*t f•'ovFnnsTs. Rorrowcr and Lander furthsr cot-anent and n~ree a Tollot.°.: <br />1$, Acceleration; Remedies. Except :ts Irovider( in paragraph 1 i hereof, upon Borrower's hrcacit of any <br />covenant or agreement of Borro,t°er rat this Mortgage°, insl~ding the covenants tp pay when clue am ~tms secured <br />by this 1ortgage, Lender prior to ar•scleration shall mail notice to Borroa'cr as provided in paragraph id hereof <br />specifying: (1) the breach: t'lt the sMiou required to cure such breach; 13} :t date. not less than Thirty days <br />from the date the notice is mailed to ilorrowcr, by tvluch such breach utust 6c carr'<t; curl i~kl that failure io cure <br />each breach on or before the date specified in the notice may result in acceleration of the aunts secured by this <br />1~Iortgage and sale of the Yroperty. If the trreae6 is not cured oft or before the date specified in the notice, Lender <br />at Lender's option may ricclare all of the sums secured by this Atortgagc to be inuucdiuteh• due and payable <br />without further demanri and may foreelosc• this \tortgagc by judicial proceeding. Lender shall I;c entitled to collect <br />in such proceeding all expenses of fon•closurc, including, but not limited to, costs of dosuutentary° evidence, <br />abstracts and title reports. <br />19. Boaoweis Right to Reinstate. Notwithstanding l.ende.r's acceleration of the awns secured by this <br />Mortgage, Borrower shall have the right to have any proceedings begun by Lender to suforce this \tortgagc dis- <br />continued at any time pMrior to entry of a judgment enforcing this Mortgage if: let Borro,vcr pays [.ender all <br />sums which would be then due under this \iortgage. the Note and notes securing Fuhtrc :1r?cances, if any, had no <br />acceleration occurred, ih} Borrower cures all breaches of any other covenants or agreements of Borrower con- <br />tained in this Mortgage; (o) Borrower pays al! reasonable expenses incurred he Lender in enforcing the covenants <br />and agreements of Borrower contained in this \Iortgtte anti iu enfurcirl; Lender's remedies as provider! in para- <br />graph 18 hereof, including, but not limited to, reatsonshh• attornec's lees: and tdl Borracsr takes sur•h action tts <br />Lender may reasonably require to assure that the lien of this \lm•tgagr. L,nder's interest in the Property and <br />Borrower's obligation to pay the sums secured by this Mortgage. shall t•ontinue unimpaired. t'pou such payment. <br />and cure by Borrower, this h3ortgage and the obligations secured hereby shall reutaiu in lull force and effect as if <br />no acceleration had occurred. <br />28. Asaigcareat of Retrts; Appoiatmeat of Receiver: Leader is Possession. :1s additional security ltere- <br />upder, Borrower hereby assigns to Lender the rents of the Property. pt•ot•ided that Borrower shall, prior to acceler- <br />ation under paragraph IS hereof or abandonment of the Property, have the right to collect and retain such rents <br />as they become vue and payable. <br />Ugon acceleration under paragraph 18 hereof m• abandonment of the Yroperty, Lender. in person, by agent <br />or by judicially appointed receiver shat! be entitled io enter upon, fake possession of and manage the Yroperty <br />snd to colleetthe rents of the Property, including those past due. A1I rents collected by Lender or the rcssiver <br />shall be applied first to payment of the costs of management of the Yroperty and collection of rcpt,, including. 6;u <br />not limited to, receiver's fees, premiums oo receiver's bonds and reasnnahte attorne}•'s fr•o.<.:urd then *o the arty:- <br />secured by this Mortgage, bender and the receiver shall he linhie to acc_otutt onh• for rho-o rents actru lh ravelled. <br />