|
not extend or postpone the. clue i:Eate nt' i,i;tr monthly i +talliucxxt r+•iiYZ'red ttf n: !',iatagra~~tkts 'I, ;µnnd "L,Eaep~{of or
<br />change the aixtouni of such ihstalline~~ts
<br />10. Borzower Not Released. 1';xtensieu of the time for pavnieat or modification of amortization of the sums
<br />secured by this Jiortgage granted br Lender to any sut•cessor in interest of Borrower =hall not operate to release,
<br />in any manner, cite liabilit}- of the origins) Borrower and Bonrotccr's successors iu interest. Lender shall rot. be
<br />required to commence proceedings against such successor m• refuse to extend lime for payment or otherwise modify
<br />amortization of the sums secured by thi, \lortgage by reason of any demand made by t-he original Borrower and
<br />Borrower's successors in interest.
<br />II. Fozbearance by Lender Not a Waiver. .any forbearance by Lender in exercising any right or remedy
<br />hereunder, or otherwise atlorded by applicable late, shall not be a waiver of or preclude the exercise of any right
<br />~ or renxetiy Hereunder. 1'he procurement of insurance m• the payment of uses or other !lens or charges by Tender
<br />shall not he a waiter of Lender's right. to accelerate the maturity of the indebtedness secured by this )lortgage.
<br />Syr 12. Remedies Cumulative. .411 remedies provided in this Uortgage are distinct anti eumufatit•c to any other
<br />~ right or remedy- under this A[ortgage or nltortied by law nr cyuin-_ aml may- he exercised coucurrrntly. independ-
<br />~ ently or successivch .
<br />0 13. Successors and Assigns Bound; Joint and Several Liability: Captions. •Cho cotenants and agreements
<br />ftereir. contained shall bind, and the rights hereunder shall inure to. [hc respective successors and assigns of Lender
<br />and Isorrotver, ~ubiect ro the provisions of puragt:yrh I ~ hereof..Ali rutenaut,~~ anal agreernc•nts of Borrower shall
<br />Q~ be joint anti cetera). Tlie captious and headings of rim p;u~agrtpha of this \Im~tgage art: for contenienee only and
<br />~ are not to be used to interpret or detina the prod>iun> hereof.
<br />IA. Notice. .4ny mrtice to Bm•roa•er proeided for in this Alortgage slut)) he girth hp mailing ,.ueh notice h}•
<br />ratified utail addressed to Borrower :tt rtes I'roprrtt :A~Liress stated hrlotc, except for any- notice required unde,^
<br />paragraph 1S iu•reitf to he given to Borrotcer in the utanuer inrsrrihed he uigthrah}r last..4uy notice Itror'ided
<br />for in chi, Aior[gagr shall be dec:ned to have testa gitcu to Borrotcer tchen given in rtes nuuut.r designated herein.
<br />15. Uniform Mortgage; Governing Law: Severability. "Phis form of nttu-tgnge contitines uniform cotenants
<br />for national use and non-uniform cotenants with limiter! v;u•iatimts by jurisdiction to constintte a uniform secu-
<br />rity instrument eoceriug real ln•opet•t-y. "this \lortgage shad be govarne~l bt the late of the jurisdiction in which
<br />the Yropert}- is located. lu the etent thus say prutision m' clause of this Aortgage or the Aote routlicts with
<br />applicable law, such conflict shad not affect other In•ovisions of ibis \lortgage or the \otc• nhich ran be given
<br />effect without the conflicting provision. and to chi= end the protisions of thellortgat;c and the Vote arc declared
<br />to be severable.
<br />16. Borzower's Copy. Bon•ower shall he tarnished a conformed ropy- nt this Mortgage at the time of execu-
<br />tion or after recm•datim: hereof.
<br />17. iransEer of the Property: Assumption. If all or am- Hart of the. Prouertn• or au interest therein is sold
<br />or transferred be Borrotcer tt•itl:out Lender's prior written conseni. excluding cal the rreatimt of a lien or encum-
<br />brance subordinate to this \lortgage. i bt the creation of a purchase money security interest for hoe-Behold appli-
<br />anees. i-ci a transfer by dense, descent or by operation ni late upon rtes death of a joint tenant or ldl the grant of
<br />any leasehold interest o: three }ears or less not containing ;tin option m purchase, Lender map, at Lender's option,
<br />declare aL' the sums secured by this \lortgage to be immediately due and lrtyablr. Lender shall hate waived such
<br />option to ;x•celerate ii, prior to the sale or transfer, Lender and the person to tchom the Property is to be sold or
<br />trunsierred n°ach agreement in trriting that the credit of such iteraon is satisfactory to Lender and that the interest
<br />payable on rtes sunxs =_erured by this Alortgage shall be :u such r;tx• as Lender shall request. ff bender has waited
<br />the option to accelerate provided in this paragraph li mxd if Borrower'; successor in interest has executed a writ-
<br />ten assumption agreement accepted in trriting by Lender. Lender shall release Borrower u•om all obligations under
<br />this'tiortgage snd the tote.
<br />If Lender exercises such option to accelerate, Lender shall :nail Borrower notice of acceleration in accordance
<br />ttith }~aragutph lI hen•of. rush uoiicc steal( protidc a period ui not leap than 30 days Cann the dau• rtes notice is
<br />untiled x•nhin able): Burtvtrt•r nary }sty the sums dtrlared clue. if Borrower f:uL< to pay- :.urh sum. prior to the
<br />rxpirrctiou of such period. Lender tray. •a;thout further notice or ;h•:nsmi on B~arrr~wer• mtoke sm• remedir~ per-
<br />;rtitted i,v it:tragra;ri: 18 ltcreof.
<br />\:;*:-l' ;;k:;r~t t'<,v€s~<°r';• t3<,reErwer :ttat J.t•ndr~r futt}ir•r t?;tt•rztn> =xncf n+•r•~ n~ Fc~licttta
<br />18. Aeeeteration: Ilemedie;;. )crept ;x. Imat-irft~~t ii; l~aragral~i~ fi; Iu•rroi- ttpuu Borrower= breach of am'
<br />rocen:utt or agn•~•turnt ut Bunt,tcrr m chi. Alurtgat;~•, iarludme the roteu;ua., tt~ pay when due :w}~ ..ems serurrd
<br />Irt rhts Alortgage, Lcnd~~r phut to ;u crk•t:rhoa ,hall mail nutter to Boreowcr a> ;nntuh•d ut i~:uu~repl. 1~ hereof
<br />speetftutg: i 1 ~ ti;e In~oarl,. ~3i the arnun rcyt.ur'rd to core .ueh hre-arlt, iS) a d:Uc. met lr~•• thou thirtt da~•s
<br />irun~ <.IH~,iat,~ tht t,otire ~~ t:culr•,+, to Iturro•,t-cr. hr' tchich such hrcaclt nms8 be carat): ;tad ~-F, ,hat failure to rum
<br />-ueh Lrceu~h ur. t„ s,rio:'r tl~c ilate• >prr,tieti m the nuUCt may' rcan4 in arroh•ratiuH ..i tFr .iun= created hp chi.
<br />\lortgage and sal. ui the Property li rtes hm;u•h t, not cure~I ot: or bet`ure the d:ur specitird nt the Holier, Lender
<br />st Lcmler`s optio^ may` ~irehu~t- all ..f the aunt srrurnt by titi. AIm•tgagr ro bu inmxc~hatrly dtu and payable
<br />tctthout furtherd~~mnnd su~i uutr tur~~~~lo,~~ tht> \lortgage bt lu~hrtal i~ruroediog, herder steal! be eHtitlrtC ro collect
<br />to sorb In~tccr~luit; ail ~~s{~ru_,r. td ir,n•c!o-:tn~. tncitnliug. but ^ut luuue~t h.. costs of docuuu•uuu} etidence.
<br />:lhstntl~ts Il!`~t ~.it ll' ft'i it lrr~
<br />19. Borrower's Right to Rainstats. y'ont uh.uunlmg Lrndor'.~ :u•rrlrranou of rtes stuns created by this
<br />\[ortgage, Burrower -bull irate rtes right to h;ne :tt;r ptzteeedm;;~ begun ht Lvudrr ut rntorr~ this. \lortgaKr dis-
<br />continued nt any Uuu• Itrinr to rutty of a indgmrnt cuiar'eigt; thi~~ AIortt;ttge tf: tai Burrutrcr pass Lender all
<br />sums which would be then due under this Alortgage. the Xutr and notee scenting Fuhtrr ,4iit>uu•e,~. if any, had no
<br />acceleration oct•urrt*ri; tht Aorrower ruri•: all brcac6r, of :etc otht•r et~crmtnt> ur ugrrruxnts of Borrower con-
<br />tainer) in this 1lortRage; ~rl Bormwer pas.. all reasonable cxpvnars incurred liy Londcr in ~•nforrutg the cotenants
<br />and agreements of Borrotcer containtal to this ithtrtg,tgr :aui iu .•nforciut; Lrndrr's rrnmdies its pror°ided in partt-
<br />groph lA ltcreof, including, teat not limited tt>- raakonat:Ir• ottorner's fee:, and ttU llnrrowcr takes sue): nrtian as
<br />Lender may reasonably require to assure tYtat the lien of this \lortgngc. i.ender•s interest in the Nroprrty :cud
<br />Borrower's obligation to pap the awns secured by this Vorrgat;e shall runtimu• unimpairwl, i'ptm such paynurnt
<br />and cure by Borrower, this \(OTtP,agr aqd rile obhgahons secured hereby shall reutuiu in toll farce and effect as if
<br />no acceleration had occurred.
<br />20. Assignment of Rsnta: Appointment of Receiver: Lender in Possession, :4s additional securitt here-
<br />under. Borrower hereby assigns to Lender the rents of the Propern•, protidcd that Borrotcer shall, prior to acceler-
<br />ation tinder paragraph 18 hereof or abandonment of thE• Propert}•, hate rtes right to collect and reuiin such rents
<br />as they become due and payable.
<br />Upon acceleration under paragrapb 18 hereof ur ahandonrnent of the Property. Lender. in person, by agent
<br />or by judicial)}• appointed receiver shall he thrilled to e+nter upon, take possession of and mauaKe the Property
<br />and to collect the rents of the Property, including thaw past due ~Il rents coL'ected by Lender or the mociter
<br />shall be applied fiat to payment of rho costa of management of the Propern~ and ralic•etion of teat<• including, but
<br />not limited tu, receiver's fees, premiums on receiver'. hnndx ;tad rcitwnahte atrornet's frrs. and Then to the ,urns
<br />secured by this Mortgage. Lender and the receiver -shall hr tiahir ice account unit for then e rents arrualh~ receited.
<br />
|