|
not extend or postpone. the due date ui the monthly- iu=t:ilhoeirr refrrreri ro in paragraphs 1 and 2 hereof or
<br />change the amount of suchsnstalhnents.
<br />10. Borrower Not Released. Extensiai of the time for payment m• modification of amortization of the sutra.
<br />secured by this \fortgago granted by Lender to any successor in intemst of Borrower shall not operate to release,
<br />in any manner, the liability of the original Bw-rower anr. Burrowers aiccessors in interest. Lender shall not be
<br />required to commence proceedings against sash successor m refuse 4o extend time for payment or otherwise modify
<br />amortization of the surus secured by this \fortgagc by reason of any demand made by the original Borrower and
<br />Borrower's successors in interest.
<br />11. Forbeazemee by Lender Not a Waiver. ,ti;y iarhearanee be Lender in exercising any right or remedy
<br />hereunder. or otherwise atlorded by apnlieabie law, siial~ Fiat br a r:aicer of m- preclude the exercise of any right
<br />or remedy heremtdar. Tile procurement- of insurance o:• rile pay mein of taxes or other liens or charges by Lender
<br />shall not be a n•aiver ni Lender's right to accelerate rile maturity of the indebtedness secured by this \iortgage.
<br />I2, Remedies Cumulative. Ail remedies pro, ided in tic= Mortgage sre iiistinet and cumulative to any other
<br />right or remedy under this \tortgagu or ahorded he I:nc or equity, and mac he exercised concurrently, indeperd-
<br />ently or suecessiveiy.
<br />13. Suxessors and Assigns Bound; Joint and Several Liability; Captions. 'the rocemutts and agreements
<br />herein contained shall bind, and the rights heremtder sh:.il inure ro. the respeetitc successors and assigns of Lender
<br />and Barrower, subject to the. provisions at paragraph 17 herein- Ali cotenants and agree-menu at- Borro;er shall
<br />be joint and several. The captions and headings of utr paragr:ytbs of this Aortgage urc• fur cuncenienee only and
<br />sre not to be used to interpret or define thu prop°isions kereoi.
<br />14. Notice. any notice to Borrower pravidcd for in this \lartgage shall be given be tu+tiling such notice by
<br />cer[ified [nail addre~ed to Ban-owrr st the Property Address -rated hclatt. rxccpr for am- notirc required under
<br />paragraph IS hereot to bc• giver. to Bm-ruwer in the manner prescribed i•y aj>i,licablc la+t..any notice provided
<br />for in this ~Iortga;e shsll be deemed to hate baet eicen to Borrower a iu•n _i. en in the m;mrer designated herein.
<br />15. Uniform Mortgage; Governing Law; Severability. 'Chi= iarin of mortgage courbines uniform covenants '
<br />for national use and non-uniform covenants with limited tariatiuns b} jurisdictioi to constiYufe a uniform secu-
<br />rity instrument covering real t:roperc}°. Tlii~ Mortgage shall he got•inied by the iai~ ut the jurisdiction in which
<br />fire Property is lacated. Iii the event that any protisior. ar rlsnse of This \Iortgtge or the Sate cmiT3icts with
<br />applicsble fan-, such cov8iet s'rrill nut afl'ecr other provisians ur this \Iurtgage m' the \ote nLtch c•an be given
<br />e~eef, a ~ii~ar rile enn3;et;ng pro~•;.ion- and to =_h-s .end :lie ;:roriiom o; the \lurtgaec and the Vote sre declared
<br />to be severable.
<br />18. Borrowei s Copy. Borrower s}:all he iarnishe,i a atntormed copy of this Mortgage sY the time of execu-
<br />tion or niter recordation hereof.
<br />17. Traas{er of the Property; Assumption. If all ur art}- ,tare of the Property or an interest therein is sold
<br />or transfertt-d b}- Borrower without Lender's Heine icritter: consent. esca[ding (sl t ~ creation of a lien or eneum-
<br />brance subordirste to this ~forgaga, i b r the creation of ,: ;+urcitase money security interest for household appli-
<br />snces, (e} a transfer by devise, descent or by aneratioa of late upon the dent-h of a ioint ±enant or ±dl the grant of
<br />cry leasehold interest vi three years or less not contalnir.~ ar. option. [o purchase, Lender :clay, at Lender's option,
<br />declare all the sums secured by tht ltorigage to be i:ttn:e~:siely ~iuc and oacshie. Lender shall have waived such
<br />option to accelerste if, price to the sale or trsnsfer- Len~.ier :nxl the person to whom rile Prupem- i=_ to he cold or
<br />transferred reach agreemena in tvritin.~ th ~t the credit ai eau, person is satisisttorr to Lender and thst the interest
<br />pa}°sble on tha sums seeared'ny *_his Mortgage shall Im at noel rate s= Lender shall request. If Lender has waived ~
<br />the option to accelerate pravideti in this parsgrapl: I ~ and ii Borrowers _uccessr,r in interest has executed awrit- tp
<br />ten assumption agreerncnt serepted in n ritiug ii} Lender. Lender shall release Barron er from sll obligations under
<br />t::is Mortgage and the \atz. ~
<br />If Lender exert:;ses suds option ro accelerate, Lender ;tail :nail Borrower not-ire of acceleration, its accordance ~,
<br />n-ith psragraph 14 hereof- Sorb Warier shall protide a period of not less than 3Q days from the date rite notice is ~
<br />mailed within w:iirh Borrower may ; .ty the sutra; declsrid due. Ii Burrower i:ti's to pay suci; stns; price to the
<br />exgira*_iun of each period. Lender n;ac, uithottt further natiee ur demand on Barrawer, int-o]<< .;icy remedies per- ~
<br />a
<br />misted by paragraph IF hereof. '
<br />\r+s-L-iaFOnat t`ressn~rs. Borrtncer anti Lender further eotv~nant and affree as fallau-s:
<br />18. Aeeeler~ion Remedies. Esrept as protiiied in naragra}?: 1 ~ he!eoi upon Barrm-er's bres:;it of an}•
<br />eavenant or acre einent of Barri,wer _. Gis _ or_~ - . inci.;ding ihr cutena,,,._ ,,,.~ ant sums sceuttd
<br />by this Mortgage, Lender prvr w acre+?t-r ttioit -ha'~ n.alk notirc to $ermwer ss p:rocinrd u: pars{;~ph 1-i hereof
<br />specifying: iii t}:e breach: +2+ rite action. mquirt'si to cure sorb breach: i3+ a :late, iwt ':ess limn [bitty days
<br />irons the date the notice i~ mailed to Borro~,rrr- he wLieh such 6rcarli roust be curt-d: ascl a ~ that iss!urt• to care
<br />such bresrh on nr before the date speci5ed in the notice [nay r~uh in acceh•ratian of the saws ~ecnre:i tn- this
<br />ltongage and ssle vi 2hr Yropett} If :he breach r nut cured m; or before t?:: dst. specitird v; tix• notice. Lender
<br />si Lenders sition ma}' declare all of the ~snts secured by tl[is Mortgage m be inanediatait due and payable
<br />without further demand a^.d inec ioreciox il:is Mart::ge be 7udirial praceedir.•~ Lemier sL:+`.! be cnriticd to collect
<br />in such proceeding all exper4r~= ::: iarerlcsurc, mciu+iin¢- loft not iiui:[er to. costs of docu:nentsrc eciden_ce,
<br />abstracts and title mpon_.
<br />I3. Borrower's &g$t to $ainetate. ~atwitiistsndiug Lender's acc-ederatiur: of rile -orals secumti sty this
<br />1ortgage, $ormwer shall have the right to hate anc proceedin,•s begun by Lender to enforce i - \lortgage dis-
<br />continued at any lime prior to entry ai a ;udginent ento7cirg~this Martgage if: .a~ $orrowt•r pa}•s Ixnder all
<br />sums which would be then due trader tot ~iarzgage, the `:ate and Hates securing 1-afore .rdt-snces, ii any, had no
<br />acceleration ocetirred: ib: Borrower cures all i,rea:°hes of ant other coii•nant~ or aF;ri•emenc of Burrower con-
<br />tained in tttis \4ottgage; irl $orrower pays all reasonable expenses incurred fry Lender in cnfarring rho cotenants
<br />and agrxments of $ortower contained in thLS Martgage and lit etiimrin?, i_c•nder's remedies as prodded in para-
<br />graph 18 hereof, including, but not Iitnit~: to• reasanabie attoriiec'> ices: and ~d ~ Borrower takt_ such action as
<br />Ixnder may reasonably require #o sssare chat the lien of ihi. 1lortgagc. Lender's irtere.t in the Yropertc and
<br />Borrower's obligation tr pay the =rims secured by this 1lortgugc .hail coat:nue unuupaired. t'pon such payment
<br />and ettre by Borrower, ibis Illortgage and the obligations secured hereh}• si,ali rentaiu in full force and effect as it
<br />no acceleration had occurred.
<br />~. Jta~gntrasat ~ flsats; Apipointmeat of Rviceivaz; Lender in Possession. :ls additional security herP-
<br />uttder, Borrower hereby assigns to Lender the rents of the Propen}•. prodded that Borrox-cr shall, prior to acceler-
<br />ation under paragraph 18 hereof or abandonment of the Property, hate the righr, to collect and stain such rents
<br />as t3tep become due and payable-
<br />Upon seceleration under paragrapl2 1S het~of or alrandonrr:ent of the Yropen}•. Lender, hi person, he agent
<br />or by }udieisliy appointed rec+eitr_r shalt twe entitled to enter upon, take posse.~siun of and manage the Property
<br />and to collect the rents of the Property, including those past dtte..ail rcnis collected In• Lender or rho receiver
<br />shai! }>e applied first to payment of the casts of management of the Property and rollecuan of rents, including, but
<br />not limited to, receiver's fees, premiums on receiver's Itand~ and rcasanable attarner's fees.:md then to the sane.,
<br />secured by this 14ortgage. Lender and the receiver eliall be liable m account ooh- for those nuts achialh- mccived.
<br />
|