|
not extend or postpone the due elate of the monthly insta!bnents referred to in paragraphs I and 2 hereof or
<br />change the amount of such installments.
<br />10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums
<br />secured by this Mortgage gran;,ed Ur Lender to am• successor in interest of Borrower shall not operate to release,
<br />in any manner, the liabiiitp of the origins! Borrower and Bonrower's successors in interest. Lender shall sat he
<br />required to commence proceedings against sneh successor or refuse to extend time for payment or othernise modify
<br />amortization of the sums secured b}• this \tartgage b}• a•essou of any demand made by the original Borrower and
<br />Borrower's successors in interest.
<br />il. Forbearance by Lender Noi a Waivsr. Any forbearance b}• Lender in exercising any right or remedy
<br />hereunder, or otherwise afforded by- applicable lau-, shall not he a reelect of or preclude the exercise of ary right
<br />or re:~r:dy hereunder. The procurement cf insurartcc_ ar the payment of taxes ar ot.her liens or charges by Lender
<br />~ shall'not be a waiver of Lender's right to accelerate the maturity of tt:e indebtedness secured by this :Mortgage.
<br />~ 12. $emedies Cumulative. All remedies provided in this \Iortgege are distinct and cumulative to any ether
<br />right or remedy under this Mortgage m• afforded h} !acv m equity, and mac be exercised cmtcurrently, independ-
<br />entry or successively.
<br />C1Y 13. 5uecessors and Assigns Botw1; joint and Several Liability: Captions. The covenants and agreements
<br />herein canttuned shalt bind, and the rights hereunder shalt inure to. the respective successors and assigns of Lender
<br />~ and Borrower. subject to the provisions of paragraph I7 hereot. --111 roccnstlts and agreements of Borrower shall
<br />Q be joint and several. The caption; and heading, of the ;:aragraphs ni this \lortgage are for convenience only and
<br />t are not to be used to interpret or define the provisions hermi.
<br />~ 14. Nat:ae. 3m• tlotice to 3arrawer- procidrd for in this Aio*tgagc ~ia!1 hr gicrn be mailing such notice by
<br />certified rush :addre=sod to Borrower at the °ropert} Ari<irrr~ stated i,clotti~. except far auy notice required under
<br />paragraph IS hereat to be gi: rn to L'orrrncer in r~r ulsnncr i,ro>trihtd by a?,~rlicahlc !an-. An}• native provided
<br />for int-his Mortgage shad be d•emet! to brave Srecn green to Borrower :riven ~i~cn to the manner designated herein.
<br />15. Qaifotm Mortgage; Csoverning Law: Severability. Phis Torn: ,; mortgage combines unifol-m covenants
<br />fornaGOnal use and pan-uniform covenants niti7 !imire,i variations h} iurisdiction {n constitute a uniform secu-
<br />tity instrument covering real nrcrperty. 'i'hi. \iort~a~c chef; !+r governed hy- the l:rrv of the jurisdiction in which
<br />the Pmuetty is ]orated- In the event that any irrovi=ion ar clause ai i!7is Aortgage ar the Vote conflicts with
<br />applicable lae•, such conflict shah not affect nti.er }~rav~isir;ns of thi. Mortgage or the Vote which can be given
<br />effect withouk the conflicting prevision. and to this tnd the provision= of the }lartgage and the Vote are declared
<br />to he severable.
<br />16. Borrower's Copy. Bermwer shat! he furnisire..i a conformed copy of this Mortgage at the tiSiB of exe~u-
<br />tion or after lerordation irereoi-
<br />17. iransier of the Property: Assumption if sli nr any }cart of the Propem- or an interest. there'ia is sold
<br />ori-ransfzrred by Borrower without Lender's prior written consent. excluding 7a` ehe creation of a lien or encum-
<br />brance stitxrrdinate to th>e Mortgage. ~ hr the rmatior: of a ?urrci;tasr money serurit.v interest for household appli-
<br />ances, {ce s transfer by nevi»e. descent ar tr}- operari..'n ei fart u?ron the death of a joint tenari or jd) the grant of
<br />any leasehold interest of three rear: or ies- na± containing an option to purchase. Lender may. at Lender's optior±,
<br />declare all the sums secured t'n~ aria Mortgage cc, 1M in:mr~.~ia{ely due an,i payable. Lender silaif have waived such
<br />option to accelerate if, prior to ti:e sal, or trarsirr. Len=ier and t!rr person to whom the Property is to be sold or
<br />transferred reach agreement in writ-ing til-at t!le crc~3it of such person is aatisiarton- to Lender and that the interest
<br />payable on the sums secured by this ?inrtgage shah l,e at >uri: rate ss I,i•nder shall request. Ii Lender has waived
<br />the option to accelerate provided in this , aragr~uh i7 and if Borroscer•s =ucces=ar in interea has executed a writ-
<br />ten assumption agreement accepted in ccntlnF by I,tnder. lender shall release Borrower iron all obligations under
<br />this 3Sarigage and the ! otx.
<br />Ii Lender exerci~ suci, option to arceierste. Lender silai! ~naii Borrower notice of scceleraiion in accordance
<br />with paragraph iI hereof. ~ur!r nntltr :...., ?,rori~it u period of not less than 3i1 via}-s Tram rite date the notice is
<br />mailed within u°hic1= Bormwer tna}~ part=..•r sums ricr!arerl tiuc. li Borrower fails tc !ray- such sums prior to the
<br />expiraticn of such =,eriod. Lender ma:•. ..,uur fu^l,er r,otic,~ or demand nn Borratver. ;.:'; oke any remedies per-
<br />mitxed by paragraph I$ hereof-
<br />~tr:r-I-11FGR}t 'rvr:i..,~ ~.. lir~rrcnv,•1 zrt:d l.~ndr•r fu=tlrer t~cvevattt and lt_~ra<• as ferliatv.:
<br />1B. Acceleration: $emedies. F_scr?'t ar ,m+v;dc,i is !crragr:y+l: li lri•rtof upon Borrower's breach of aar}-
<br />covenant ar agreement of Bormaer 19 -.~., M,ut~__r. iru fading the cocrnant to pay- w?l,,n due an}- sums =ecured
<br />by ibis Rortgage, I-ender pnor to ac,•r-!r'stmr: ~Ls1i nsSi notice to F3orrorcer as !,nn'idrd ;n ?,aragraph lI hereof
<br />sl?erilying: 71~t ale bread;, +'+ the iu-t lt~n rtyurrtd to cure such hrcarL, i37 a ,intr. no; loss {!:an tills}• days
<br />item the date the nntrrc is msil~l to t3.'rrawrr !~. vcLiclr -ucL !.rest]! :oust be cured . and 7I r that failure to cure
<br />n ^,i hreaiii nn ni ircly c' flit date ..i.r:i ,,, :.;t' :~(rLtr ,vai' :-ti's..!{ ,,. ....rC1 Cr'uLt+;, :)i il:c' .. .nr. M'rai t'd .•' t1r1S
<br />\14urtgage sad sale o! tlrr Pro}reRy.`If~the breach 1s rot cutti•ci o*.: ar before du• ,Tarp ~?x•rificd in tlu' nrrtire. Lender
<br />at Lender"s option luny dc'elam all of the suns xrY•~ared :+v tlu~ AIurtgage to be itnmrnirateky due and payable
<br />Aithuut further dentan;i std may ioreclosr tbls Morteagc by ,u=urisi proceeding Lrtxicr Thai! ! _~ entitlrrl to collect
<br />_ ill - - ..1~ _ ..!..7: r~{ n,~ t'L~.: ... 'icw . i,{..
<br />. u.. .. nE• ..,.a. .,. ....... ... u... ,... ...., ~. . . ... .. ......... .... .....-,.. ....
<br />atr~-tractsrand iii le report.
<br />19. B~rosrer's &ght to BQimatata. \otaiti~~tanditi¢ I.ender> atce!eratiou of tht xurn. st-cured fry this
<br />Lortgage, $orrower shelf llx~•e ±he right to have cry ?rrorec~tiirg- ix•gun by lcn+irr to crrfurre this }fortgage dis-
<br />contSnttzd at any time prior to entry of a 1tldQtvrent ctrioTcint; this \fongsge rt-: tar Snrro:tr•r pees lender alt
<br />starts wbich trould be then ,iue under tl;is .lorgarc'. the \ate ::nd parrs serurin_* l-•ut:{re• A<fvane~::- i± any. ha<t no
<br />acceleration occurred: the $orrower cures ail hreyrhe~ of :tny other r•nvrnanrs or agivrtm•nt- trf Borrower rran-
<br />Laiaed in this J•fott~e; ici Borroewer pays xll rrasnnahlc expenses incurn•+1 by 1-t•ndrr in ±'ufnrern;; rhr covenants
<br />and agreements of $ortowar eontainrd in ibis ~SoRgagc anci in e•niorcinK Lcn,!cr', rc•urrdm- a- pro, riled in !rara-
<br />grap4 18 hereof, including; but not limited to. reasonable attorne~-'s ire,; ;uul tda Borroucr takes such action as
<br />bender tray resaonably require to s`sum that the lieu of this Mortgage. Lender's irtere;t v: the Property and
<br />Borrower's obligation to gay the sums secureti by ibis llnrtgage steal! continue :luiv,painvi. L'pon :uci7 payment
<br />and ewe by Botzower, this ;!dortgage and tale obligatiunc secured hereby .hail n•uxain in full inrcc and rtlert as ii
<br />no seoeleration had acurred.
<br />30. Asrignamtwt d Aeets: Appalutm~t o! Seceiver; Lender is Poese>asioa. .~•- additional security herr-
<br />wader, Borrower dereby assigns to Lender the rents nt the Propem•. provided that Borrower shall. ?rriur to aeceler-
<br />aUion under paragraph l8 hereof or abandonment of the Yroi>frty, have the ri?;ht to collect and retain such rent.
<br />ae they become due cud payable.
<br />Upon acceleration under paragraph 18 hereof or abatuionnaent of the 1'ru?rrrt}•, l.cadrr, in prrz;an, 6v agent
<br />or by judicially appointed reaceiver shall he entitle:] to etrter u?ran, take prnsession of and manage the !'ropertr
<br />and to oallcet the rents of Ube Property, including those past clue .ai! rents ealleeteti ±~~~ Lendt-r or the n'oerr-e•r
<br />shwa lr4 implied firatto_pavauept gf the coats of tnanagarrtent of the. I•'ro?x'rtc an,l eolL•cuun nt runt.. u,tlu+!ing. Inn
<br />notlirmited to, meeiver'x tees, premiutnx on receiver's houdr and n•asturxhl,• aturnrry~,. im- :end tiu~:, to the canc..
<br />accented by this :4lartgage. Ixnder attd the receiver shall be liahl.~ to arouuut unlr riot tho•t r.^rt> :,,~7 r:nlh~ n•rr•ia•d
<br />
|