|
- pat e~xterd err postpone the due relate of tltc rtto~d~rt~laiy i.nstaTlune~nts rafer~•ed to in para~graphs~ '1 and 2 hereof or
<br />• eYtatige life atntaunL of such instalimen'ts,
<br />~ ~ 1'13. Borrower N4xt Released. Extension of t~te~ tint's for• Itayrmet,fi" m• mtwi'i,licatdion of antortizatian of t~Yte Burns
<br />~~ secured ley tltrlstlc,rfgage granted by Leretder #~~o k'~rty siicicess~t5r in inte~~rest of Barravver skuall nat'~ ~opcratc too releaut+e,
<br />~? ~ in any manner, the liability of the original Borrowet• and Horrower's successors in interest. Lender shall not be
<br />required io commence proceedings against such successor or refuse to extend time for payment or othe.wise modify
<br />'k amortization of the Bunts secured by this Mortgage by" reason of any demand made by the original Borrower and
<br />Borrower's successors in interest.
<br />1L Forbearance by lender Not a Waiver. Any forbearance by Lender in exercising any right. or remedy
<br />hereunder, or otherwise afforded by applicable fate, shall r,ot ire a wai.•er of or preclude the exercise of any right
<br />or remedy hemurder. The procurement: of insurance or the payment of taxes or other liens or charges by Lender
<br />shall not be a rs•aiver of Lender's right to accelerate the ntaturiiy of the indebtedness secured by this 34ortgage.
<br />12. Remedies Cumulative, All remedies provided in this Mortgage are distinct and cumulative to any other
<br />right or remedy under this _lIortgage or affm•derl by late or e quits, and may be exercised concurrently, independ-
<br />pi entry or successively.
<br />13. Successors and Assigns ]3ormd; Joist and Several Iaability: Captions. The covenants and agreements
<br />herein contained shall bind, and the rights hereunder ehaU inure to, the respective successors and assigns of Lender
<br />and Harrower, subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower steal!
<br />be joint and several. The captions and headings of the pnragrnphs of this Mortgage are for eoncenienee only and
<br />r are pat to be used to interpret or define the provision< hereof.
<br />Y
<br />1 ~ 19. Notice. _1ny notice to Borrower provided far in this \rortgagc sball he gic'en by mailing such not-ice by
<br />t
<br />~; ~ certified mail addressed to T3orrower at the Yroperty Address stated below, except for env notic•c required under
<br />~, paragraph :8 hereof to be given to Borrmver iu the manner prescribed by :gyilicsble lacy. Anc notice provided
<br />for in this Mortgage shall he deemed to hove been given to Bortwer when given in the w:uuter designated herein.
<br />15. Uniform Mortgage; Governing Law; Severability. This farm of mortgage combines uniforrr, cn~,"Hants
<br />j for national use stud non-uniform covenants with limited variations by jurisdiction tp constitute a uniform secu-
<br />E city instrument covering teat property. This Mortgage shall be governed by the lacy of the jurisdiction in which
<br />the Property is located. In the event that nny provision or clause ni this Mortgage or the Vote conflicts with
<br />~~ ~ applicable 1 ~~~. sucB cenfiict shall not affect other provisions of this Mortgage ar t-he ~otc. which can be given
<br />effect withou; •he con;ticting pravtsion, acrd to this end the provisions of the ~iurtgage and the Diote are declared
<br />to be severable.
<br />lf>. Ranower•s CaFY• Harrower stroll be furnished a conformed copy of this ~iartgage at. the tirfie of execu-
<br />lion or after recordatiot: hereof.
<br />17. Transfer of the Property: Assumption. If all or any part of the Property or an interest therein is sold
<br />or transferred 6v Borrowe=r without Lenders prior written consent, excluding ia} the creation of a tier. or eucum-
<br />branee subordinate to this \lortgage. tbl rite creation of a purchase money security interest for household appli-
<br />- ances, icj a transier try devise, descent or by operation of late upon the destit of a joint tenant or (dl the grant of
<br />any leasehold interest of dtree years or less not containing an option to purchase, bender may, at Lender's option,
<br />declare all Lhe awns secured by this Jlortgage tc be iuunediately due and payable Lender shall have waived such
<br />option to accelerate ii, prior to the sate m• transfer, Lender anti fire person to wham t-he Property is t.o be sold or
<br />transferred reach agreement in writing drat the credit of such pcrwn is satisfactory Lo Lender and that- the interest
<br />payable on the sums secured by this ilortgage shall he at such rate as Lender shall request. If hendex has waived
<br />the option to accelerate provided in this paragraph li and it Borrower's suct•essor in iniere,t has executed a writ-
<br />ten assumption ageeernent accepted in writing by Lender. Lender shall release Borrower from all obligations under
<br />this Mortgage and the ~7ote.
<br />- If Lender exercises such option tp acre?eraLe, I<euder• shall mail Borrower notice- of acceleration in accordance
<br />t t.itlt ltarsgrsph ld he c?t~ ~,1c1: notirr' -hall prot-ido a pt ri~xl o! not hr< Lhan 3Q days from the date the ziakiee is
<br />- trailed u-itbin which Horrawer utaty pay lire sums declared tiur_ If Horrower tails to pay such sums prior to the
<br />ex[rirrttion of such period; Lender pray, cvitltout further nonce ur dantantl on Harrower, invoke any remedies per-
<br />- milted t>y paragraph IR hereof.
<br />~px-I`xtFOtrrt t'm-r.nnxa•s. F3ort•occer una Lender fnrt.her covt•uant and a~5ree ns foIlaws:
<br />la. Aceeleretions Remedies- adept as lu-atid~~d iu para~-apl: l: lrF~t-vr~r ul>e~t L3Qr'rawa~r's ktrczteh ~zf artt•
<br />_~ eovennnt or ngreenrent of Borrower in this ~[ortgage, including fire cueentmis to pay' wbut .hte am stuns secured
<br />f by this lfartgage, Lcndcr prior to at•celrruttan shall until notice to_Bot•rYtwer :a, provttlul in paral,rnpL k4 hereof
<br />specifying: 111 tht• breach; i2i the artiatr required to ew4~ sucb •Irreac•h; (31 •a date, not less than Shirty days
<br />front the date the nonce i~ mailed to 13orrawcr. 1..' which sut•b 6r•cacl.t must be eutw1; .md i~It that failure to cure
<br />such lu•esch on or be-tore the date specified iu dte nuticr~ may result in acceleration of the Burns secured 6y this
<br />'Mortgage and sale at the Property. If the breach is not cured on ar before thc• date spectfied in the notice, Lender
<br />at Leader's option may declare air of the stuns secured iw this Jiortgage to be nnuuvii:uely due and payable
<br />withou6 further deutand and pray foreclose this Mortgage ltv judicial proceeding- Lender shall hr entided to coliaet
<br />in :+uch proceeding all expenses of foreclosure. including, tent nut limiterd to, costs of dacuuu~nt;try rvidenee,
<br />abstracts and title reports.
<br />18. $onowar's Right to Reinstate. ~utwithsutnding Lender's acceleration of the soots secured 6y t.his
<br />klortgage, Harrower shall ha,•e the right to have any l,rttcecdings begun by Lender to entprcr this \lartt;agc di--
<br />_ continued at any limo prior to entry of a judgment entaxeing this Mortgage if: I:ti Borrott•er pays Lander all
<br />aunts which would he then clue ttmier this \fortgaae, the \ote anti Hates securing r'uture Advance:., if :tot, had tro
<br />acceleration occurred; (hl Harrower cure" all hn•aches of any other eacenants or agreements of Borrower can-
<br />_ rained in this R•lartgage, te? Harrower pays all r~asorrable ecpen~es ineurretl by I,encler in enforcing the covenants
<br />and agreements of Horrawer contained iu this :F[ortgage anti iu enforcing bender's rc:uediex are lrravis?ed in pars-
<br />- grap}r 18 hereof, including, but not limited to, reasonable attorney's fees; and tri 1 Borrower takes such action a,+
<br />Lender may reasoaably require to assure that the lien of Hris Mortgage. Lender's interest in the Yroperty and
<br />- Borrower's obligation to pay the sums secured by this \#artgage shall Continue unimpaired. I'lton such ltaymc~at
<br />and cure by Borrower, this Mortgage and the obligations secumd bombs shall reuuiin in full force and effect- as if
<br />na acceleration had occurred.
<br />3Q. Aatrigamrat of 13ants: Appoiatm~at of Racoivar: Leader in Posseasiaa. As additional security here-
<br />• under, Borrower hereby assigns to :.ender the rents of the Property, provided that Barroner shall, prior to acceler-
<br />ation under paragraph 18 hereof or abandonment of the Yroperty, have Ute right to collect anti retain such rents
<br />as they become due and payable.
<br />LTpan acceleration under paragraph 18 hereof or abandonment of the Property, Lender, in person, by agent
<br />or by judicially appointed receiver shall 6e entitled to enter upon, take possession of :anti manage the Property
<br />and to collect the rents of the Property, including those past due. Ail rents collected by bender or the receiver
<br />shall be applied first to payment of the costs of management of the Property and callectian of retxs, inchtding, tent
<br />not 3imiied io, receiver's fees, premiums on receiver': bonds and reasonable attorney's fees. emd thou to ehe sums
<br />secured by this ,l•[ortgage. Lender and the receiver shall hr- Gable to account only Car those rents actunliy received.
<br />
|