|
Brat extend rn° Irostpal;e the due date of the tnonihh- irrst:riksnent rr>fcrred to in paragraphs 1 and 2 hereof or
<br />ehAngc: the sxmount. of such instslhnenis.
<br />lp, Harrower Not Released. Exiensiar. of tkie tinge for payment or modifir.sstion of amortization of the sums
<br />secureif by tills _1-fartgage granted by Lender to any successor in interest of Bortatt•er :hall not. oliei•ate to release;
<br />in any manner, the IiahiLty of the originak Borrower and Borrower's successors Sn interest. Lender shall not be
<br />required to cammenee proceedings against corgi successor or refuse to extend time for payment or otherwise modify
<br />amortisation of the sums secured by this Mortgage by reason of any demand made by the original Borrower and
<br />Borrower's successors in interest.
<br />I1. Forbearance by Lender Not a `hlaiver. Am• forbearance by Lender in exercising any right or remedy
<br />hereunder, or otherwise afforded by applPcable late, shall nai he a waiver of or preclude the exercise of sny right
<br />ar temedv hereunder. The procurement of insurance or the payment of taxes or other liens or charges by Lender
<br />shall not be a tcaicer of Lender's right to accelerate the maturity of the indebtedness secured by this 1Ciortgsge.
<br />12. Remedies Cumulative. 311 remedies provided in this \Im•tgage are distinct and cumulative to any other
<br />right or remedy under t-his .Mortgage or aft•ordcri by law nr rquin•, end may he exercised concurrently, independ-
<br />enth_• or successivelc.
<br />~ 23. Successors and Assigns Bound: Joist and Several Liability: Captions. The cor•enants and agreements
<br />r~~{ Herein coot-ained shall bind, end the rights hereunder shall imsre to, the respective successors and sssigns of Lender
<br />sack Borrower, =abje€t to the prot•isians at paragraph 17 hemof.:',lt cocenauts and agr€ements of Borrower shall
<br />~~•~ be joint and several. The captions and hradings of the paragraphs of t;,is Afortgagc are for convenience only and
<br />are not to be used to interpret or define the provisions hereof.
<br />~} 14. Notice. Any notiop to Borrower provided for in this .Mortgage shall he git•cn by mailing suck; natire by
<br />certified urail addressed to I3orrotce•r at the Property Addros; stated below, except fw• any natkcc required under
<br />k,;aragraph lb hereof to be gn•en n> Borrorccr in the manner prescribed by applicabkc Iaw. Auc notice provided
<br />!or in 'this Mortgsge shalt be deeused to have been given to Borrower when given in the manner designated herein.
<br />15. Uniform Mortgage: Gaveming Law: Severability. 'Phis form of mortgage combines uniform cac^tzar,ts
<br />for national use and nan-unitorm covenants with limited t•ariations by jurisdiction to constitute a uniform secu-
<br />eity instrum€nt caverhig real property. This \Iortgagc sk:all be governed by the lacy of the jurisdiction in which
<br />the Property is located. In the evenc that any provision or clause of this \tort.gage m• the Note conflicts with
<br />spplscable law' such conflict- shall net- affect other provisimrs os this \fortgago or the Note wktich can be given
<br />effect tvithom flee conflicting pror•ision, and to this end '.he lxot•isions o1 t-Ise ~Iartgaga and t-kle Note are declared
<br />is he sevorabie.
<br />iti. `HOrzo.eer-s Copy. Borrower shah he furnished a t•onformed copy of ibis :>Sortgage at the tune a€ tiresou-
<br />tion or after recordation hereof.
<br />17. Transfer of the Property: Assumption. Ii all ot• any pert of the Property ar sn interest therein is sold
<br />or transferred i>y Borrower without, Lender'. prior written consent, excluding (a1 the. creation of a lien ar encum-
<br />Ilranec subonlinate to this Mortgage, tbl the cr€ation of .. purclsa~c money securit}• interest fox household appli-
<br />sncGti, (c) a transfer be devise, descent. ar by operation of hire upon fire de..th of a joint tenant or td) the grant. of
<br />any leasehold interest of three years or Iess not cantausing an option to purchase. I:endar may. at Lender's option,
<br />declare all the sums secured by this Mortgage r,a be im:nediatcly stuc and payable. Lender shslI have waived sorb
<br />option to accelerate if, prior to the sale or transfer, Lender and the person to whom the Property is to be sold ar
<br />Gransferzed reach sgreesnent in writing t-hai the credit ai such persatt is satisfactory to Lendtu and that the interest
<br />payable on the sums secured h}• this \lortgage shall be at such rate ss Lender shall request. If I:ender has waived
<br />the optic; to accelerate provided in this paragrspis 1'r and ii Borrower's successor in interest has executed a wcit-
<br />ten assuatpiian agreement accepted in writing by I•ender, Lender shall rl}ease Borratver tram all oblige€ians under
<br />this Illortgage and the Note.
<br />If Lender exercises .uch option to accelerate Lender shah :,-sal; I3arrawcr notice of accetetatian in seeotdauea
<br />tt;tli patagrai3h l4 k!Crc•of. iut.ii tio[ia` shall prat''tde ~ fK-ri-~~ ~,« nai ]c'a~=. than ;3t~ okays frasn il't€ e_{ate t€tc rtOt.iCC ~-
<br />uiaiked within which Barrawer may 1?a}' the sums decksred due. If Barrotver fails to psy such sums prior to the
<br />exftirstioti of s>:c;h It~ric?tI, LuYder stiav• aithout furt!str tsattce or dcrrtand on L;'~srrowt:s•, invok~::taty rcmPCti~ per-
<br />- milted !=y Para r I~h ? g s ~~. _
<br />` I'~fr..,,~} t'` _~. ??€,..~. .t-1 3 t~, fl.s'tl~f x.....,.,t~* .is.; s~.'t~ ., t•.-..uw;=
<br />1t1, ncceiaBea~iriri; n~modiss, h:ae«•rt :i.. prz~i-ie•d ~ s:;zr;~~ifirs ht•~rrr, : ~ 4in I'~t:r~r~. ~.~st~~ 3r xi:;~=
<br />covenas;t or agreerncnt ai 13arrarei•r us chi; Alurtg:igo. inctu:hny the cacersalits to clay when dur qtly s~-tots areur+•d
<br />by this \lortgagr, Lencker }prior to :u•ct•kc•s'sis:osr -hall ricul notsrc u, Bornnr°cr as prar°idcil in t~ara~raph 1~ kier•of
<br />specifying: 41r thr brvuch; ~2r thr action r•ciuued icr curd suf-h breach: .3r ;, date, oat ke:-s then ttttrty date
<br />irtnn t}ti° date th±~ nutrr.° r~ nxlili-rl to Ilonee;rer. by :ci,irlr such i=rcacls must h<< cu;;~i; as;~i :-Ir that fsakkitti to cure
<br />such breuct~ ou or bedr~rc roc dstr s;>ecitsed iu the natics~ luny result in :iecefrrativn s,i th;• suur~ ~irtsrf~ii t>y this
<br />:tlortgagc irnrl ~al:~ tsf r}u• Yrapc•rty. ]f tl:r• hreacls ss not curr,l ar. ar betarc the date spec•rfieck its thr ;=afire, Liinder
<br />ut Lender`s ootian u;av declare ak] ai the strsa. secur~•d by tht+ tiurtgagc rti by inniitliaU•ly du.• and psychic
<br />rcithout nrrther ds•nraud and niuy tmtclose tin, 1lortt:ake Ly ,Eft+hetul proceeilink- Lender shall he eatnfl~rl to isllkeci
<br />•,. `=U'.'k; I.r:i~i.E -r i ~- gill t i n.p. ~~ti fi,rr.i_.iti.rkr•'. Intl f-hrrx, htit rust lPhit r,] tei .~n_vt tt dnrt~ient-i€c er iel tier'
<br />u~6et.racts and tith~ re~pnrto
<br />18• l~rrawax'a Itigbi !o Reuutate. yutw YtbrtaudnsK Lender's acri•leratiinf of the stone ?eruntia 1_a• this
<br />?vIartga~, 8orrow•€r =hall hxt°€ ilie right to hat.v any q,raeecviinu=~ 1>€izim hp t.rnds~r tip rnfnrwr this 5tar~l;ag€ dii<_
<br />caRtinaed at any truce prier to entry at` x ru~.igns~lt rnto7eulg tins \lartRage If: sal Barrea~r boys bender all
<br />sultliS which u•oukt! be then clue tender this: Mtrrtttua;e, the \ate wind ncYte+ st-•t•uring I''uturr Adt•anee~, if anr, had no
<br />acceluratkxY accurreck; Uit 13orrotvr-r cures alt brvacln•s of any wither t•tmcnauts ar al;ri~ments of Barrawer eon-
<br />tainetk in th+s l-iartgage; (ci 23urrewer pay; ski reasanakrh• rai~nac inrurrsxi b~• Li'ncter in i~niorring iht~ earenaenis
<br />ttnd agrrt'cl}ent.ti of ntlrtvtaer cOYltaine:il it} tkYis Mvi'tg:Ygi• :Yrirl ,n entiirciii}; Letidi•r ~ rrnietilii' FYn )?r1}'r tdeil tit para-
<br />graph I$ hCl'CO(, 1nClUding, but tIOG lltnited ta. rC$sOtlal)1C attorney •s ice-: and IdY BOrCawer takCS SUt=h RCttitR ad
<br />Tender may reasonably require to as:.~ttre that tkYe lien of this ~lartgage. I,endrr's iukertat `tn the Property and
<br />Borrower's obligation to pay the sums secured by this ltongate :=hall continue unimpaired. I?kton such payment
<br />-and cure by Borrower, this :l4origageantl the obligation; sceurt~i hereby .balk retnairt in full force stick efleet ss if
<br />no acceleration had occurred.
<br />~. AaaigpYmeut of $egtts: Appa'sntmeat of 13ecei~er; Lender is Possession. As additional security hem-
<br />under, Harrower hereby assigns to I r tiler ttie mots of thN Property, provided that Aorrower chalk, prior to acceler-
<br />ation tinder paragraph 18 hereof or abandonment of tkYC Prokerty, hat°c the right to collect and retain such rents
<br />as they become due and payable.
<br />Llpnn acceleration under paragraph 1$ hel•eof nr ahandanment of the Property. Lender, in perm; by agent
<br />..r by ;udicialky appain+~ receiver shall tie entit!€d to enter u*,lan, take p~seesiaYt of and ltlanage the Propeerty
<br />and to collect the rents of the Pr_+:?periy, inclining those past due, :!H rents eoliccted by Lender or the receiver
<br />sh4k1 ~° apple:-d 5r?L to payn~nt of ~h2 €ost~ of tnansgetn€nt of the Property and ::all€€tiaa of rents, inc:uding, ktut
<br />not limited to, receiver's fees, premiums on mceiver's bond;::md reasonable attorney's fees. and then to the sums
<br />secured by this iLlartgage. Lender and the receiver shall he liabke to account onh• tar those rents nchrally received.
<br />
|