|
<br />tD
<br />C~.1
<br />J
<br />rT
<br />t\
<br />^ot extend of postpone the dne crate of the monthly iusrlllnx:nta referred to iu paragraphs I and 2 hereof or
<br />change the amount of such installments.
<br />10. Borrower Not Released. }3xtension of the time fm• payment or modificat-ion at amorf,izatiou of the sums
<br />secured by this Mortgage granted h}- Lender to any successor in interest of Borrotcer ,half not operate to release,
<br />in any manner, the liability of the original Borroccr and Borrourrk successors in interest. fender shall not be
<br />required to commerce proceedings against such successor or refuse to extend time for payment or otherwise modify
<br />amortization of the sums secured by this \lortgagc he reason nl any demand made 6y the origLtal Borrower and
<br />Borrower's successors in interest.
<br />ll. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy
<br />hereunder, or otherwise afforded by applicable law, shall not he a waiter of or preclude the exercise of any right
<br />or remedy hereunder. The procurement ~f insurance or cite payment of taxes or other liens or charges by Lender
<br />shall not be a waiver of Lender's right to accelerate the maturity of rite indebtednesa secured by this `'lortgagc.
<br />12. Remedies Cumulative. :111 remedies provided in this \lortgagc are distinct and cumulative to any other
<br />right or reined}- under this Mortgage or affnrdai by hltt or equity. and may ho exercised concurrently, independ-
<br />ently Or SLLCCesRlrely.
<br />13. Successors and Assigns Bound; Joint and Several Liability; Captions. The cotenants and agreements
<br />herein contained shall bind, and the riglrts hereunder shall inum to, the respectitc successors and assigns of Lender
<br />and Borrower, subject to the provisions of paragraph l; hcreoi.:111 cotenants :md agreements of Borrower shall
<br />be joint and sereral. The captions and headings of the paragraphs of this Mortgage are for corn•eniencc only and
<br />are hat to be used to interpret or define tits provisions hereoi.
<br />14. Notice. any notice to Borrower prodded for in this Mortgage shall he giten by mailing such notice by
<br />certified mail addressed io Borrower at the Property .~ddt•cas gated below. except im• any notice required under
<br />paragraph 18 hereof to be given to Bm•rower in the manner prescribed be applicabh' istv..1ny notice prodded
<br />for in this _lortgagc shall he deemed to h:n~e been ;n-cn to Borrower when giten in the m:mncr designated herein.
<br />15. Uiuform Mortgage; Governing Law; Severability. "Chic (arnl of mortgage cmubines uniform cotenants
<br />for national use and non-unicorn: cotenants tci[h limited variations by jurisdiction to constitute a uniform secu-
<br />rity instrmnen[ covering real property. This Ator[gage shall he governeri by the tau' of the jurisdiction in which..
<br />the P*O.i,,81ty jc 10eattd. IP. tilt' Clem that a!15' pral'iatOn Ot' ClatlSr ai tlli. Mart gllgC nr tllr• Vntn rontllclS with_
<br />applicable ]sw, such conflict shall hat aftcct other protisions of this Alortgagc or the Vote tthich can 6e given
<br />effect without the conflicting protision, attd to this and rile protisions of the Alortgagc snd the Vote are declared
<br />to be severable.
<br />IS. Borrowers Copy. Borrower shall he iurnishai a contormed ropy of this \lortgagc at the time of execu-
<br />tion or after recordaiior. hereof. -
<br />17. transfer of the Property; Assumption. ti all or any part ni thr Property or an interest therein is sold
<br />or transferred be Borrower without Lender's prior written consent. excluding tai the creation of a lien or encum-
<br />brance subordinate to this Jlortgsge. Bbl thr creation of a purciulse money security interest for household appli-
<br />ances, (cj s transfer by devise, descent or by operation of lsn~ upon the death of s ioint truant or (d1 the grant of
<br />any leasehold interest of three year; or less not containing sn option to purchssr- Lender ma}•, at Lenders option,
<br />declare all the sums secured by the \lortgagc to be immediatelc doe and payable Lender shall hate ttaited such
<br />option to accelerate li, prior to the sale or vansfer• Lender and the person to tchom the Yropem- a to be sold or
<br />transferred reach agreement-in writing tilst the credit of such person is catisiactory to Lender and that the interest
<br />payable on the sums secured b.• this \lortgagc :hall be at such late as I,emler shall rerptest. Ii Lender has waived
<br />the option to accelerate prodded ir, this paragraph 1 i and it Borrower's successor in interest has executed s writ-
<br />ten assutuption agreement accepted in writing b}• Lender. Lender shall release Borrower from all obligations under
<br />this Mortgage and tine VVote.
<br />Ii Lender exercises suet: option to accelerue. Lender shall tuaii Borrower notice of acceleration in accordance
<br />with psrag!aph 1~ hereoi. Such notice shall praride s l,eriai of not leas than 30 da s ero!n the date the notice is
<br />mailed within which Borrower mac pat the sums declaared due. If Borrotcer rails to pay such sums prior to the
<br />expiration of such period, Lender ma_ . tdthout iurher natice or demand on Bmroe-er, int-oke any remedies per-
<br />mitted by paragraph 18 }iereof.
<br />\as-I-stFOxat C'orESa~Ta. Borrower and Lender- fln•ther corenunt snd agree a> follatc~;
<br />f8. Acceleration; Remedies. tacept as lnati~Ie,i in p;u•agrapL 17 hereoi, upon Bornncer's breach of an}-
<br />eovenant or agreement of Borrotcer in this .llm-tgngo, including the mt-erants to pat wix~n due any sums secured
<br />by this >iortgage- Lender prior to acr•ek•tutton -hail mail notice to Borrotcer ss protidrd in pa!~agraph l•1 hereof
<br />specifying: III the breach; i2~ the actton rcyuire,i to tine such breach; tat a date. uoi less than thilfy davs
<br />from the date the holier is nlaik~d to Borrotcer. ht «-lath >uc6 ht'ru h must be rurrd: and tl! that failmc to cure
<br />such breach on or before the' date specified in the aotirr• !nay result in aceelen+tinn of the .unts secured b_ this
<br />Mortgage snd ~.le of the Prapertc. If O:e breach is not cured at: er before the dato specified in the notice, Lender
<br />at Lender's option hole derlan• all si the stints secured l+r this \lortgagc to be intmedistch due and payable
<br />aithou# further demand and n;sr ioreclos• tins Mortgage itc iudieia} proceeding. Lender shall be emitted to collect
<br />in such proceeding al} expenaes of ian'rloaurc. utcl:nling. btlt nut limited to, costs of dorwnentarc ecidenee,
<br />abstracts and title reports.
<br />19. Borrowers Eight io Eeiasiate. Vonrithstandillg I-ender'> acreleradan ai the aunts secured by this
<br />Mortgage, Borrower shall have the right to hate ant proceeding= Legun ltc Lemter to enforce this \(ortgage dis-
<br />eontinved at any time prior to entry of a judgment eniorcivg tht- \tartgage if: ia, Borrower pays bender all
<br />sums which would be then due under this llongage. the Vote ant totes securing Future Adv;utcrs. ii ant, had no
<br />acceleration occurred; ib) Borrower rums ail brearhe> of any itther ,°errnant- or ngrrrment- of Borrower con-
<br />tained in this _4Iortgage; !cl Borrower pars all reasanahlo cxpcnsr'< mrurmd br Lcndrr in enforcing the rorcnants
<br />and agreements of Borrower contained in [his \lattgage :md m eniurr•n:;; Letnder's remedies as prodded in para-
<br />graph 18 hereof, including, but not limited to, rt•:rsonable atn,mec'> lee .amt ui ~ Borrower takes ueh action as
<br />Lender !nay seasonably require to aa,-ure that the hen of chi. Alortgagc. Lender'- interest in the Property and
<br />Borrower's obligation to pay the sur!L secured by this \lartgu<_•r -1tu11 rontima• unimpaired. L"pon such payment
<br />and cure by Borrower; this'~iortgage and the obligations secured hereby shall remain in lull force and effect as if
<br />no seceteratSon had occurred.
<br />2I1. 14>rrsgameat a! B.arets; Appointment ~ Receiver; Leader in Possession. :1- additional security here-
<br />tmder,Borrower hereby assigns to Lender the rents of the Propen r. prorided that Borrotcer shall, prior to acceler-
<br />ation under paragraph 18 hereof ar abandonment of the Property, hate she right to collect and retain such rents
<br />as they become due and payable.
<br />Upon acceleration under par..graph i8 hereoi m- abandonment of the Property. Lender. in person, by agen[
<br />or by judicially appointed receiver shalt be entitled to enter ulwn, take possession of and umnsge the Property
<br />and to collect the tents of the Property, including ttaose Asst due.:Vl rents c•ollectrd by bender or the receiver
<br />shall be applied first to paymevt of the costs of management. of the Propcrtc and rolicrtion of tents, including, but
<br />not limited to, receiver': fees, premiums oft receiver's iwmi> and rrasnnal,le atwnu•y's ico< soul then to the sums
<br />secured by this Mortgage. Lender and the receiver shall he Iiuhlo to ;u•rount only fa• ti~~se rents aent:llh- received.
<br />
|