|
not extenu? as. u~ost~fionc tl'te ri~tte t~Gaw,e at'' the manthl+. Eu:,t r,~E:,icsts ,e:errra~l ~tri iE-, patra~,ral:Eh~~~ '~! vutl '~ her of or
<br />change th,e amount o 5 tcrt iats~allrn. nts.
<br />10. Bozravsrer Nat 1?eieased I -tettsior. of tl e rnr #am } ~+r~teaat rn° inadift_ at on ok at to ~izatian of tote sums
<br />secured by- this~:".iortbagc grantet~ r:v Leader to any -rtt~e_so. i.. snierest of Brrr.a++e:° et.afl oat operate to release,
<br />in any ntarmer, the liability of fire anginal Borrawer and Borro+er's successors in interest. bender shall not he
<br />required to commence proceedings against sircir successor or refuse to extend time far payment or otherwise modify
<br />s amortization of the sums secured by this \Inrtgage by reason of any demand made he the origir+.al Borrower and
<br />Borrower's successors in interest.
<br />~ 11. Fazbearanee by Leader Not a Waiver. Any forbearance hy~ bender in esereisina any rigl-it or remedy
<br />hereunder. or ot-het•tvise afforded by app!ieable iaty; shall not ire a +casver of or preclude tl:e exercise of any right
<br />or rented; hereunder. Tire procurement at insurance ar the payment of taxes ar other liens or charges by Lender
<br />shall trot be a n-~irer of Lende_*', right to acceler:rte the maturity of the indebtednes, secured bt this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to uny other
<br />righi ar remedy under this Mortgage or afforded by- loo- ar vault :~. and may he exerci,ed concurrently. rodepend-
<br />s
<br />- crtly or successively.
<br />13. Successors sad Assigns Sound; Joint and Several Liability; Captions. The cotenants and agreements
<br />herein coma;Wed snalf bind, and the rights hereunder shall Enure ta, the respe cti~ c uccessar, and assigns of Lender
<br />and Borrower. ;uhtect to the provisions of paragraph f i hereof. Ali rnven:tnts t i agrcenrents of Borrower shall
<br />Ire }omt anr9 revers!. The captions and hcadmgs of the paragraphs of this \iortgage are for convenience only and
<br />are not to be used to interpret or define the provisions hereof.
<br />~ Id. Notice. Any notice to Borrower provided for in this Mortgage shall be given by mailing such notice by
<br />h. certified mai! addressed to Borrower at the Yropertc Ad~h•ess stated bcluw, except rm• any notice required under
<br />paragraph I8 hereof to be given to Borrower in the matuter prescribed 6y applicable l:t++'.:1nv notice provided
<br />for in this ~los•cgage shall be deemed to have been given to Bon•owcr when given in tht• manner designated herein.
<br />15. Uniform Mortgage; Governing Law; Severability. "fl:is torn of mortgtgc combines uniform cotenants
<br />for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform seeu-
<br />tity instrument covering real property. "Phis \iortgage shall be governed by the law of the jurisdiction in which
<br />the Property is located. In the event that any provision or clause of this \Inrtgage or rite Note conflicts with
<br />applicable law, such conflict shall not affeci other provisions of this \Inrtgage ot. the Note whtch can be given
<br />effect without the conflieiing provision, and to this end the provisions of the Mortgage anti fhe Note are declared
<br />to be severable.
<br />io. Borrower's t~opy. Borrower shall be furnished a conformed copy of this \Inrtgage at the time of execu-
<br />tion or after recordation itereaf.
<br />17. Transfer of the Property; Assumpfion. If all or any part of the Propert}• or au interest tfterein is sold
<br />ar transferred try Borrower without Lender's prior written consent, excluding (aj tttc crcatiou of a lien or enmrrn-
<br />brance subnrdittate to :iris Jiorigage, tbj the creation of a purchase money security- interest for household appli-
<br />ances, (c7 a transfer by devise, descent or by operation of law upon the death ot` a joint tenant or !d) the grant of
<br />any leasehold interest of three years or less not canfaining an option to purchase. Lender may. at Lender's option,
<br />declare all the sums scoured by this'llor~tgage to Uc inunediately due and payable. Lender shall have +vaived such
<br />option to accelerate ii, prior io the sale or transfer. Lender :uui the person to whom the 1'rropert}• is to be sold ar
<br />transferred mach agreement in writ-ing that the credit of such person is satisfsetorv to Lender and that the interest
<br />- payable on the sums secured by this .l-iorigage shall be at such rate aS bender shall retltreet. If Lender has waiver!
<br />the option to accelerate provided in this paragraph 17 and if Borrower's successor in iuttrrcst has executod a writ-
<br />ten assumption agreement accepted in writing b. lender, Lender shall r~lesse Borro~+er from ull obligations under
<br />this Mortgage and the Note.
<br />If 'Lender exercises such option to accefersie, Lender ;hall :nail Borrower notice of accelerntion in aecotdance
<br />with Itaragrapit 1•i hereat. ~ucit notice chair provitlc x period of act less Than 30 ~.tays irom the date the notice is
<br />tnaii,ad within which Barrowor utay }ta}- the routs dr±~larett due_ Ii Bm•rower jails to pay _surit guns prior to the
<br />:xtt E an t. ;y -ra<t, t talc t _ :+'ttl:ont t::rthcr nottee or ,ertaa.i ~,. Ilt,rr;,wrr, ,..,ran. , ~+~}iv+d ~. ner-
<br />m;tted 'av parat;ealtlt ?$ hereof. -
<br />\ Y~_{1 ._. _.e.' sae li~Fi •'r i,c~rirTr~~ ~
<br />Iii°"" ;a€?t? _•__.'.. j,tr rIEr{n;, ilr ,~. ~ ..•,,, -
<br />ia. Aceeieration; Remedies. tic!'}tt zts p!'+~vide~f iri }! ge•~ph Ii hcrcat`. tt}tot:.iarrnwcr`s ?.rc:t^€~ at env
<br />envy;nsnt or agave^ntent oI Bortrowet• nt this ~tm•tgage, including~tLe covenant.; to pay enc~n due ant ~unt..v'rurcd
<br />by this \iortgage, bender prior tq aceofer:Etion shall nntit notice to BOrIY)wer as provufcd in pru~ugraph I~ hereof
<br />specifying: ~ ll the breach; i2i the action requirat to cure at~li~}irFaE~-~`t'31~ +Istr. not less tha^ thirty tiay5
<br />irom the daft the notice it tuailed to Borrower. Lc which such Itrearir~nust he Gored. and Ede that taiiurc to cttre
<br />such breach mt or before the date specified in the notice mai Eesuf~ to accifiiziitti~it of tl:o ..wars secured by thts
<br />Mortgage and saEC ai thr Yrcpi•rt}' If the breach is nut curet! on or bcforc the dste au'cificd in t!?a' native. Lender
<br />:tt Lender's option rosy deviant till of the sums secured by thE,~ AIortgagr to be nrtrutnliatci}~ due and payable
<br />.vithout furthrr demand anti mati• iareclose this Mortgage lay judicial proee~dntg- Lernlcr shall bc- rrttitled to ca#Ieet
<br />iu such Itroce~edi:tg aI! expenses of f^eeclut;re, ;nclu:Gttg, but uta Iirnr:d ta, c<,.€> of trot-mwerttarv r:;;lo„2t*.
<br />abstraets:utd tith• reports.
<br />19, Itarrawer's Higbt to Reinstate. Notwithau:odiog I.t•odrr'~s accel~'ration -of the runts secareti by fir<,
<br />'Mortgage, Borrower ,hall !rave the right to have any proceedings he};un by Lender e<, enforce this Sortgage dir.
<br />eantinueti at any time prior to entry at a juttgmanz enfaXcing this Jortgage it: rat Ban•o+ver pays Lender all
<br />sums which would be then titre under thi.. Mortgage, the Note and note, securing Future Advanrc~, if any, had no
<br />twceleratior, occ-urre<I; ibl Flarrower cure, all breache+ of say other eovrn;gnts ur agreements of Borrawer con-
<br />tained in i.his Mortgage; 1e) Borrower pays ai] reasanaltle expcttsrs uu'ttrrcd by !.ender iu cntorcitts tlu• rEn°en:grtes
<br />assd agr~ments of Borrawer eantained to thin, A(onrgage atAti in enforcing lcnder•s retncdies as prof id+•tl in pans=
<br />graph 1$ hereof, including, but not limits-d to, reasonable attorney's fern; and id r Borrower takt•s such ;+rtion as
<br />Lender Wray reasonably require to asst;rc* first the lien of thy, AiortCage. Lcndcr`s interest ut the Yropcrty and
<br />Borrower's obligation to pay the sums secured by this Jortgage shall canthrue unimpaired. I'pon such payment
<br />and out's by Borrower, thin, Aiort-gage and the obligor-ion. stteured hereby .hall remain in full farce sad effect se if
<br />no aGCOteration had i>+.ctrrred.
<br />2i). Assigtuneat of Eeatt; J4,ppof3ntretertt of Receiver; Leader in Possession. :\s additional security hen:-
<br />under, Borrawer hereby esaigns to bender the rents of the Property, providtvt that Borm+ver shalt, prior to aceeler-
<br />atiurr nation paragraph 18 hereof or abandonment of the Property, have the right to collect and trixin such rents
<br />as they become due and payable.
<br />Lliion acceleration under paragraph 1$ hereof or abandonment of the kroperty. Lender, in person, by agent
<br />ar by judicially appoiatc~ receiver shall he Lntitled to rater upon, take possession of anti coinage the Property
<br />and to collect the rents of the Property,ine}uding those past. due. All rents collected by Lt:ncter or rho receiver
<br />shall be applied fist to payment of tkte cosh of management of the Propert}• and ralltaian .^,t rents. including, but
<br />not Limited t.o, receiver's fees, lrremiums an receiver's bonds and reasonable nttornods Ives. and then to the sum.
<br />seeura9 by this Mortgage. Lender t.ndt-he rerei+°er shall bn 1'tnhle to accotmt anh- for those rents actualh• rE•ct'i+e~i.
<br />
|