|
not extend ar I>ostpone the dtle data of trite tttanthly inststilments rr~,ierreit to irr ptrr¢egralrlls l and 2 hereof or
<br />strange the rtnlannt aC such installments.
<br />151. Borrower $doi Released, J~x~~,terlsion,al£ the tau€~ far paucruerlP~ or rrrodi~hea~t,ian of amart.i~zatiort o~f the ,y~u~tns
<br />securn•ed luy't.71is j1.Tartgage grsnted by ~,hender 1'tti Rnv uthcessor i~n inta~t~st of Borraw•er shall pat .o'psrate to release,
<br />irr any manner, the ]iabiLt}• of the original Borrower and Bort•otver's ~accessors in interest. Lender shall not be
<br />resulted to commence proceedings against such successor or refuse to extend time for payment or otherwise modify
<br />amortization of the sums secured by this Mortgage b}- reason of any dernand made by the original "'orrower and
<br />Borrower's succesmrs in interest.
<br />11. Forbearance by Lender Noi a Waiver. any iorbearancc by Lender in exercising any right or remedy
<br />hereunder, or otherwise atTorded by aplliicable la.v, shall not be a waiter of or preclude file exercise of any right
<br />~'" or renledp hereunder. The procurement of insurance or the pa}'meat of taxes or other liens or charges by Lender
<br />shall not be a w::ircr of Lentiefs right to accelerate the maturitc of the indebtedness secured be this bortgage.
<br />12. Remedies Cumulative. all remedies provided in t-his \Sortgage are distinct and cumulative to any other
<br />right or remedc under tbi= Mortgage ar afforded h}' lath m- equity, and msy- he exercised conew•rentiy, independ-
<br />r% entry or successiveh•.
<br />d 13. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements
<br />herein contained shall bind, and the rights ]tereunder shah inure to. the respective successors and assigns of Lender
<br />~ alld Borrower. subject to the provisions of paragraph 1" hereof. all covenants :md agreements of Borrower shall
<br />~ be joint and sererai. "Che captions :md headings of the: paragraph. of this Mortgage a]•e for coltvenience only and
<br />are not to he used to interpret or define the provisions hereof.
<br />14. Notice. any not.icc ro Bonowcr provided Car in this Alortgagc siutll be given b}' mailing such notice by
<br />certified mail n:idressed to Borrower ut the Property address rrtted helots. except for env notit•e required under
<br />paragraph 18 hereof to be given a] Borrotseu• in the manner prexerihed h}- applicable Iaw. any notice provided
<br />for in this )Iortgage shall he domed to have been given to Bot•rotver tvhcn ~.,+iven in the manner designated herein.
<br />15. Uniform Mortgage; Governing Law; Severabi&ty. •1'hi< farm of mortgage combines uniform covenants
<br />for national use and nun-uniform covenants with litnite+i t°ariatimts by jurisdiction to constitute a uniform secu-
<br />rity instrument covering real property. This Mortgage shelf he governed b}• the lan• of the jurisdiction in which
<br />t•he Properly is located. In the event that any provision m• clause of this ~lortgsge or tlic Mote conflicts with
<br />applicable late, such conflict shalt not affect other provisions of this \lortgage or the Note which can be given
<br />effect withat~. ±he con(liriing provision, and to this end the provisions of the Mortgage and the Note arr. declared
<br />to be severait!e.
<br />1S. Borrower's Copy. Borrower shall be iurnisheit a corfarnled copy of this \Iortgsge at. the Circle of execu-
<br />tion or offer recordation hereof.
<br />17. Transfer of the Property; Assumption. It all or any part of the Properiv or an interest therein is sold
<br />or transferred by Borrower without Lender's prior written consent, excluding !a the creation of a lien or encum-
<br />brance subordinate to this MortgRge. tbl the creation of a purchase Money security interest. far household appli-
<br />ances. I`c) a transfer by devise, descent ar by operation of law upon the death of a joint tenant or (d) the grant of
<br />any Leasehold interest of three years or less not captaining an option to t,urehasc, Lender may, at Lender's option,
<br />declare all the sums secured by this ivlortgsge to he immeditrtely due auci payable. Leader shalt have tvan•ed such
<br />option to accelerate ii. prior to the sale or transfer, Lender auci the person to wheat the Property is to be saki ar
<br />transferred reach agreement in writing that the credit of such person is satisitletor}• to .Lender and that the interest
<br />psysble on the sums secured by this iortgage shall be ai such rata as Lender shall request. If Leader has w•aivecl
<br />the option to accelerate provided in this paragraaph f i earl it Borrower'.-, successor in interest has executed R writ-
<br />ten assumption agreement accepted lit writing by Lender. lender shall release Borrower from all obligations under
<br />this ilfortgage and the A'ote.
<br />If Lender exercises such option m accelerate, Lender shall tuail Borrower tan±ice of acceleration in aacordancc
<br />with paragraph 14 hereof. Such notice shad provide a period of pat less than 3d days iri:m the chtie the notir.-e ir~
<br />mailed within which Borrcnvrr um}• h,n the sums declared due. If Harrower t`aiis to pay- such sums pear tp the
<br />expiration of such petted, lender may, tvitllout further notice ar demand on Rorratt°er, httroke any retedies per-
<br />mitted oy paragrapi] IfS Iiereof-
<br />N:~:~.j'xtFnr<tr t`il:t:r:.a:.r::. Porrinvt•t• nni (.en+:lc~r turthi~r covinunt and rtp,•ree a follnw•;;
<br />18. Acceleration; Ttaraedies. hsvet,t as~ ~:rat~i•it~~t in ptrral;rnl:h li hr•rcoi, anon Borratrer'• hrevch of env
<br />cat~cnsnt ar agreement t,f Borrotrcr itt tl:i. A[nrti;age• iurhnhng the eoc°cnsnt~ iu pay° tcitcn dttc an}° ups secured
<br />by this Mortgage, l.enricr prior to areeleratian shall ructtl ~+>iNiae taar~~l~~• :~ pruvtdrei ut par•agrapir l~ hereof
<br />=lxteii}•nrg: Ili the bresch; i21 the action rcquircii to rare suctlr*axrraoh: i3t d:uc. pat ies., tluut thirty days
<br />iron] the dati• the notice it untilect to Rurrotrer. be tchieh sorb bmaeh n5trst,lats;'r-trysyyi::uul itr thtU failure to truce
<br />~ueh breach on ar before the dots s{tecified in the unties utay reailt in acctlc~rattiott ,f the <tua,. ri•cured by this
<br />Mortgage and sale of the Property_ tf the breach is nut cured mt or before the d:ue specified iu tl:e notice, Lender
<br />at. lender's option tatty declare all of the stuns seenecd by thts Alortgagc• ro be tmnrediatriy due and payable
<br />without further demand and may fareriase this Alortgttge 6v iudiricll proceeilinh- Lender shalt be entitled to collect
<br />rn surEi l,racerdGtl; all rzpcnscs of iomclosurr, including. but wilt linritcd til. costa of ditrutueuuiry evidence,
<br />abatrart=and title reports.
<br />19. Boaowex's Right to Reinstate. Vottvithautnding Lendet's acceleration ai thu souls sc'cturd by this
<br />'Mortgage, Borraw~er shall have the right to bare any proceedings !]egun by Lender to cntiuce this: Mortgage dis-
<br />rantinuecl at. env time prior to entry oC a judgment anfoTcing this \torlgal;c if: tt11 Borrower pays lender all
<br />sums which would be then due under this J[ort-gage, the :Qote aril Watts securing k'uhlre advsnces, it any, had no
<br />acceleratkln accurrcd: Ihl Borrower cures all i,rcaeitrs of any other covenants or ngreentemtx of Borrower can=
<br />taineit to this'vfartgage: tcl Barrowor pays all reusanablc expenses incurred by Lender in enforcing the covenants
<br />-and agreements of Borrower contained iu this \Iartguge and iu eufut•citrg, Lender's remedies ats pro_viileil in pare-
<br />graph lli ltet;:of, ini•iuding, but not limited to, reasonable attm•nev's lees; tlnd idl Borrower takes such action as
<br />Lender may reasonably require to assure that the lien of this ~[artgagt, Lender's interest in the Ptilperty° and
<br />Borrower's obligation to pay the sums secured by this Martgsge shall continue unimlruirs><I. I?(xm sad] lutyanent
<br />and cure by Borrower, this Sortgage and the obligationz~ secured hereb}• shall 1•ctnniu in full farce and effect as if
<br />na acceleration hail oesurred.
<br />20. Assigrrmant a4 Rte: Appointrxasat of Raeefver; Lender in Possessiaa. as additiamlt r+ecur7ty hent-
<br />under, Borrower hereby assigns to Lender the. rents of the Property. provided that Barrotver shall, prior to acceler-
<br />ation under paragraph 18 hereof or abandonment of the Property. hsvr. "the right to collect and mtain such rents
<br />as they became due and payable.
<br />L?pan seceieration under paragraph 18 hereof or• :tbandanment of the I'roperty• Lender, in person, by agt*nt
<br />or by judicially appointed receiver shall be entitled to enter upon. take possession of and manage the Property
<br />and to collect tho rents of the Property, indudxng thane past due. all rents collected by Lender or the receiver
<br />shall be applied first to payment of the costs of management of the Property sad collection oC rents. including. i,ur
<br />not limited t.o, receiver's fees, premiums on receiver's tlords soil resst>nidlle stt,araev'z Cees. au:f t!]en to the sums
<br />secured by this .Mortgage. Lender and the receiver shall he liable to account onl}• Car those rents arhtallq received.
<br />
|