79003932 - Laserfiche WebLink

Browse

not extend or postpone r,}te due date of thc• monthly instnllmenL reicrred to in paragraphs 1 and 2 hereof or change the amount of such installments. Z0. Borrower Not Released. Extersimt of the time for payment or modification of amortization of the sums secured by this _Liortgage granted by Lender to any succeesor in interest of Borrower shall not operate to release, in any manner, the liabilitc of the original Borrower and Baraccer's successors in interest. Lender shall not be required to commence proceedings against such s!tccessor or refuse to extend time for payment or otherwise moot#y amortization of the sums secured by this \lortgage by reason of any demand made by the original Borrower sad Borrower's successors in interest. Ii. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any right or remedy hereunder. The procurement of insurance or the payment of tuxes. or other liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturit}• of the indebtedness secured by this Mortgage. 12. Remedies Cumulative. Ail remedies provided in this Liortgage are distinct and cumulative to any other right or remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independ- ~ early or successively. ~ I3. Successors sad Assigns Botmd: Joint and Several Liability; Captions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender s and Borrower, subject to the provisions of paragraph t i hertof. All covenants and agreements of Berrotcer shall ~_~ be joint and several The captions and headings of the paragraphs of this Mortgage are for convenience only and •-~' are not to be used to interpret or define the provisions hereof. 14. Notice. Any notice to Harrower provided for in this Liortgage shall be given by mailing such notice by ' , certified mail addressed to Borrower at the Property Address stated below. except fa• any notice required under ~ paragraph 18 hereof to be given to Borrower in the manner prescribed he applicable l;itv.:1ny notice provided fem. for in Ehis Mortgage shall be deemed to have been given to Borrower tvhen•gicen in the manner designated herein. l5. Uniform Mortgage: Governing Law: Severability. This farm ai mortgage combines uniform covenants for national use and non-uniform covenants wit-h limiters ~-ariations by jurisdict-ion to constitute a uniform secu- rity instrument covering real property. This Mortgage shall be gayerned by 'the law of the jurisdiction in which the Property is located. In the event that any 1~rovision or clause of this Mortgage or the dote conflicts with apolicable ]say such conflict shall not affect other provisions of this \lortgage or the Note which can be given effect without the conflicting provision, and to This er.d the provisions of the \tortgsge and the Note are declared to be seve_^able. f8. Borrower's Copy. Borrower shall be furnished a conformed copy of this Mortgage at the time of exeeu- tion or after recordatiar. hereof. I7. Fraasfer of the Property; Assumption. if all or zm• part of the Property or an interest therein is sold or transferred by Borrower without Lender's prior written consent. excluding (a) the creation of a Lien or encum- brance subordinate to this Mortgage, (bj the creation of a purchase money security interest for household appli- ances,(e) atransfer by devise, descent. or by operation of late upon the death of a joint tenant or (d) the, grant of any leasehold interest of three years or less not containing an option to purchase, Lender may, at Lender's option, declare all the-sutras secured by this Viortgage io be immediately due arcs payable. Lender shall have waked such option to accelerate if, prior to the sale or transfer. Lender and the person to a•hatu the Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that tine interest payable on the stuns secured by this Mortgage shall be at such rate aS Lender shall request. If Lender has waived the option to accelerate provided in this paragraph 17 and if Borrower"s cosec=_sor in interest. has executed a writ- ten assumption agteeement accepted in writing b}• Lender, Lender shall release Borrower from all obligations under this 1•fortgsge and the Note. If Lender exercises such option to accelerate, Lender shall matt Borrower notice of acceleration in accordance with paragraph 14 hereof. Itch notice shall provide a period of not less than 30 days from the date the notice 'is tnaiied tt'ithin which Borrower may pa}• the sums declared due Ii Borrower fails to pay such sums prior to the expiration of such period, Lender may, without further notice or demand on Borrower, intcke any remedies per- mitted by paragraph 28 hereof. tiox-U*rzronat Coc~sn~TS. Borrower and Lender further covenant and agree as foflotvs: 18. Aceeleratiom Remedies. Except as prodded in paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of Borrower in tilts ~fortgagc, including the cotenants to pay when due any sums secured by this Mortgage, Lender prior to acceleration shall mail notice to Barnraer :ts prodded in paragraph 14 hereoi specifying: (1) the breach; t21 the action required to cmr such breach: t31 a date, not less than thirty days front Lhe date the notice is mailed to Borrower, he tcitich such hmacit must. he em~rd: and t41 that (aihtre to cure ,ueh breach on or before Lire date specified in the notice utuy result in arccierition of the ..=,unr secured by this Aiortgage and sale of the Property. If the breach is nut cured or. or before the dsstc specified in the notice, Lender at Lender's option nary declare all of the stuns secured by chic Mortgage to be immediately due and payable without farther demand and may foreclose this Mortgage by judicial lrcoceccfing. l.envler nl:ail he entitled to collect in such proceeding al! expenses of forecloeurr, including, but trot limited ta. casts of doc~±tnentar}- evidence, abst,-aets and title reports. 19. Borrowers Rfght to Reinstate. \otwithstanding Lender; acceleration of the aunts secured by this Mortgage, Borrower shall have the right to hate stn proceedings begun by Lender to enforce this. Mortgage dis- continued at any time prior to entn• of a judgment enforcing this Mortgage if: tat Borrower pays Lender all stone whisft would be then due under this Jortgage, the Nr.-te and notes securing Future Adtances, if any, had no acceleration occurred; {bi Borrower cures all breaches of any other covenants or agreements of Borrower con- tained in tkis ?Mortgage; (c) Borrower pays all reasonable expenses incurred by Ixnder in enforcing the covenants and agreements of Borrower contained in this ~fartgage and in entarcing Lenrier's remedies as provided in para- graph 18 hereof, including, but not limited io, reasonable attorney's fees: and td) Borrower takes such action as Lender may reasonably require to assure that the Lien of this Mortgage. Lender's interest iu the Property and Borrower's obliigaLian to pay the sums secured by this Mortgage shall continue unimpaired. Upon such payment aAd cure by Borrower, this Mortgage and the obligations secured here}>y shalt remain in full face and effect as if no ~ had occurred. R8. ~ ~ Ruda: Appadntmant of Receiver, Lender in Pot~etraion. As additional security here- itnder, Borrower kerebp assigns to Lender tke routs of the Property. provided that Borrower shall, prior to acceler- ation tinder paragraph 1$ hereof or abandonment of the Property, have the tight to collect and retain such rents as ~ become due and payable. Upon attcelerat"son trader paragrapk 18 hereof or abandonment of the Property. Lender, in person, by agent or by jttdieislly appointed meeiver shall be eutitted to enter upon, take possession of and manage the Property and to collect the. rents of the Property, including those past due. Ali rents collected he Lender or the receiver shall be applied &rsL to payment of the costs of management of the Property and collection of rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorney's lees. and then to the sums secured by this Mortgage. Lender and tae receiver shall he liable to account only for dtose rents actually received.