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zzdC extend err ptrostpatte ±lx; drte date of ti;t~ naonth~}y' aostuaJlhrtt,nts rr=ferrerl' tr.: in taar:~~r~grakzl'r~s l artEt 2 hereof ~srr
<br />r!harage flee amount, of ~ueh instal(ntents..
<br />10. Sorrowez Not'Fteleaseg3. hxtc?nfit)n of the tidi,uae imh• saa}•a~rrez~aft„ or r~aodi4"NC,at.iota crf a~nu~artigat!iun ~iaC tahe su'~~rs~ts~
<br />secured by t:ltiti `~lortgtage grstteci h}• I.~e:'der to arrt~ <°°u,rrsets'sor in interest of Borro++•er staaii'not olrerate to rnl~a=e,
<br />in any manner. the Iiabilitc of the original Borra+vcr and Bono++-cr•s successors in in±erest. Lender shall not be
<br />required to commence proceedings against suelr successor or refuse to extend lime far payment. or other+vtse modify
<br />anaartisatior. of the sums secured by this Mortgage in• reason of an}• demand made by 'the original Borrower and
<br />Borrower's succesors in interest.
<br />11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy
<br />hereunder, or otherwise afforded by applicable la+v, shall not i~c a wai-rer of or preclude the exerciee of any right
<br />or remedy hereut;iier. The }rrocuremeat of insurance or the payment. of taxes or other liens or charges by Lender
<br />shall not 6e a +rairer of Lender's right to accelerate the maturity of the sndebtedness secured by this :lortgage.
<br />12. Remedies Cumulative. ail remedies provided in tills lortgage are distinct and cumulative to any other
<br />rights or ramedc under this Mortgage or afforded b}- law ar equity, and may he exercised concurrently. independ-
<br />ently or sueeessively.
<br />-13. Successors aad Assigns Bound; joint and Several Liability; Captions. The covenants and agreements
<br />herein conrtined shall him..I, and the rights lacreunder>hall inure to, the respective successors and assigns of Lender
<br />and Borrower, subject to the precisions of paragrapi: 17 hereoi_ _111 cotenants an.i agreements of Borrower shall
<br />~,. be joint and several. 'Chc captions and headings aI dre paragraph> of this ~iortgsge are for convenience only and
<br />are not to be used to interpret or define. the. provisions hereof.
<br />14. Notice. An}• notice to Borrower provided for in this Mortgage shall be };iron be utailing sac}t notice h}•
<br />certificrl mail addressed to Barro+cer at the Yroperty .ldchrss stated Belo+c. ext•ept for any notta^ required under
<br />paragraph ]8 hereof to be given to 13orroner m tlrr manner prescribed ht applicable lair- _1m• noare provided
<br />for in this AInrtgage shalt b.' eieemeti to bare been given to Borrower +vhen giccn in the manner designated herein.
<br />' I5. Uniform Mortgage; Governing Law; Severability. 'I'bis form of mortgage combines uniform cotena:;ts
<br />¢ for national use and non-uniform covenants +yith limited +•ariatimae by jurisdiction to cmrstitute a uniform secu-
<br />~ city instrument. covering real propert}•. This Mortgage shalt be governed by the law- of the jurisdiction in tvhich
<br />the Property i< iartted. In the eveni that any provision or clause of this ltortgsge or the Notc conflicts with
<br />applicable law-, <uch conflict shall not affect other provisions of this 1ortgage a• the Dote which can be given
<br />eP.•ect without the eonflici~ing provisimt, and to this end the provisions of the Mortgage and the I~TOte are declared
<br />io be severable.
<br />16. Borrower's Copy. Borrower shall be furnished a conformed copy of this Mortgage at the time of execu-
<br />lion or after recordation hereof.
<br />17. Transfer of the Property; Assumption. If alt or any part of the Property or an interest therein is sold
<br />or transferred by Borrower without Lender's prior written consent. excluding (al the creation of s lien or encum-
<br />brance subordinate to this Mortgage, ftr i the erection ei a purchase mono°• security interest for household appli-
<br />antes, Vic) a transfer by devise, descent or 1>y operation of la+c upmt lire death of a joint tenant or (d) the grant of
<br />any leasehold interest of Three years or lea not containing ar, option to purchase, Lender mac, at Lender's option,
<br />declare alt the stuns secured by this Mortgage to be inuuediatcly due and payable. Lender shall have waited such
<br />option to accelerate if, prior to the sale or transfer, Lender anti the person to whom the Property is to be sold or
<br />transferred reach agreement in writing that the credir of such person is satisfactor}- to Lender and that the interest
<br />I>ayable on the sums secured by this Mortgage shall be at such rate .ls bender shall request. if Lender has waived
<br />the option io accelerate provided in this paragraph i i and if Borrower's successor iu interest has executed awrit-
<br />trn assutuption agreement accepted in writing try Lender, tender shall release Borr•ow•er Pram all obligations under
<br />this ;lortgage and the Note.
<br />Ii Lender exercises antic option to accelerate; Lender shalt :unit Borrower notice of acceleration in accordance
<br />+titr I,aragrapt: 1~1 hereof. *uelt notice sh,a pro+`ide a period of not less than 3i) days trout the date thr notice is
<br />mailed +vit-bin •,rhich Bormn•er may pay the stuns iieclare~d dire. If Borrowet• Tails to pay such sums prior to f-hc
<br />expir;rt:icatr of such period. Leoder uaay, +vithuut. tuMher natiee or {leru»mt ar. Burro •or, invoke any r€medies per-
<br />mitted by paragraph 18 hereof.
<br />N , r :,r ('€;: ,.rs, f;orrc:vr=r crock I er~_i.•r nrkli~-t' cc~t`c•tt<;ttt .r._tt :sire: .... t^31o=.+-s:
<br />%a. Acceleration; Remedies, I•~xccpt as l;rot•itia~~-t iu laut:il;ril,l: 77 hereof, upon Borroici:i-'s tiitac;Ii i>I tit~~
<br />eovanant or agrecmeat of Borrower in this \Inrtgitgc, including the covenants to pay +chrn due any scans secured
<br />b•V this ~tortgagr, bender prior to acceleration =hall! uaaii notice to-I3arro+trr as provided in paragraph 14 hereof
<br />sl~recifyirtg: tll the brrach; i'21 the action required to rtn'c such breach; t3l a daft', not less khan tltirtt' days
<br />from the dat.c the raatice i- mailed tv 13orro+cer, by +vhich sttclrhrearh roust be cured; sod +4 i that faihrrc to cure
<br />such breach on or before the date speritird in thr notice may result in uccclcr:ation of the sours secured by this
<br />Mortgage and sale. of the Yroperty. ti the hrearlr is not cured an or 6eforc the date specified in the notice, Lender
<br />at Lender's option nary dec•tarr rill of the sutras secured by this Mortgage to he immediateh• due ern[ {ntyable
<br />witlrout. further demand and only tarrcluec this Mortgage b}- ,judicial prococding. Lemier shall be entitled to collect
<br />lax ::uch proceeding all expenses of iareclestur. including, but not !incited io, costs of daeurnetttarc c_tidence,
<br />abstracts rmd title rrports.
<br />19. $otrowois Right to Reinstate. Not+vithstanding Leuder•s acre!€ration of the ,tuns secured lay this
<br />:4lottgage, Borrower shall have fire right to have any prareedin~s hewn tn• l.endrr to rnforcc this Mortgage dis-
<br />continued ut any Bute prior to entry of a judgment enforcing ibis :~Eortgngc if: tar Borrower pays Lender all
<br />sums which would be then due under this ~lortgagc, the Note and notes securing Futucc :~dvanees, it any, had no
<br />acceleration acctarred; thj Borrower cures all breaches of un}- other eo+•enants or agrcenu~ntr: of Bonowrr con-
<br />tain€ai in this ortgage; fej Borrower pays alt reasansbie expenecs incurred h}• fa'nder io enforrtug the cavemtnts
<br />and agrcem€nts of Borrow€r contained in this r\lortgugc~ srnd in enforcing Lender's rcmediett as prori<irtd in para-
<br />graph 18 hereof, including, but not limited to, reasonable attorney's fees; and I<ii Borrower take. such action as
<br />Lender may reasonably require to assure that. the tier of this ~[ortgagc, Lender's interest in the Yroperty and
<br />Borrower's obligation to pa}-the sums secured by this Mortgage shall continue unimpairt~ti. L'•pan such payment
<br />and cure lay Borrower, this '+iortgage and the obligatioaas secured hrreb}- shall remain in full force and effect as if
<br />no aer;eleration had occurred.
<br />21i. Arssignatent a! Rents; Appoi*etment o4 Receiver; Lender in Fossession. ~s additional security here-
<br />- under, Harrower hereby assigns to Lender the rents of the Propert}•. provided that Borrower shall, prior to acceler-
<br />ation under paragraph 18 hereof or abandonment of the Yroperty, have the right to collect anti retain such rents
<br />ns they become due and payable.
<br />Upon acceleration under paragraph l8 hereof or abandonment of the Yroperh•, bender, in persort, b}• agent
<br />or by judicially appointed receiver shat! he entitled to enter upon, take po_cse.sion of and manage the Property
<br />and to collect the rents of the Property, including those past due. alt rents collected. by Lender or flee receiver
<br />shall be applied first to pziyment of the eo~t;: of management of the Propery anti eolleetion of r•rts, haciudrng, but
<br />not limited to, receiver's fees, premiums on receiver's bornts and reasonathle attorneys fees. ;md then to the aunts
<br />secureel by Lhis Mortgage. Lender and the receiver shall he linhle to account crab, for the ~ rents actualh• received.
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