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atat extend sr lrostl~sone~ the due 41at,e of 'the rnoant3nv inrt;tlh .etttrr~ rrrferreri t;n is :ras•ag,raphs~ 1 [anti t2 hereof rsr~
<br />charge [Etc antrntnt~ of acetic instalim~eruts.
<br />1E14 ,Harrower blot Released. Ex'tensian of 't'rat:•~ time for payont:'nt. ar ntoditioation of antoa•tizat--ion of the s~unts
<br />secured 1,;~y this~:~.~Io~tgage grsrstctl by ~~,ender'to any -uecessor in interest of Br>~rrotve,~r shall not ,operate ten release
<br />in a~nw~ tt'uanrtflr„ ti~tn~~ liab4iity ai k~lta or'~igSuaB 13'~or•rors•ee ttnd Bottorr~n~~~r'~ -urer,~,?r~rars tar. nstt~~ores~t~. 7[:ender ~s~hall not be~
<br />required to commence proceedings against such successor m• refuse to extend time for payment or otherwise modify
<br />amortization of rite sums secured by this Mortgage by reason of any demand made by the original Borrower and
<br />Borrower's successors in interest.
<br />11. F`orb•earance by Lender Not a Waiver. Any forbearance by Lender in exercising any right ar remedy
<br />hereunder, or otherwise afforded by applicable lace, shall not be a waiver of or preclude the exercise of any right
<br />or remedy hereunder. The procurement of insurance or the l,ayment of ±axes or other liens or charges br Lender
<br />shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured br- this Dortgage.
<br />12. Remedies Cumulative. All remedies provided in tills Mortgage are distinct and cumulative to any other
<br />right or remedy under this Mortgage or aCtorded by lax m• equity, and may be exercised concurrently, independ-
<br />entry or successively.
<br />~~ I3. Successozs and Assigns Bound; Joint and Several Liability; Captions. The cotenants and agreements
<br />~f herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender
<br />(~ and Borrower, subject to the provisions of paragraph 1", hereot"". All covenants and agreements of Borrower shall
<br />be joint and seteral. The captions and headings of the paragraphs of ibis Mortgage arc for cottvenicnce only and
<br />are not to be used to interpret. or define the provisions hereot.
<br />I4. Notice. Any [:oriel to Borrower provided for in this Mortgage shall be given be mailing such notice by
<br />t?1 certified etas addressed to Borrower at the Property Address stated below. except for xny notice required under
<br />~ paragraph 1H hereof to be given to Borrotccr in the manner prescribed h}• applicable lacy. Am• notice provided
<br />for in this ~Iortgagc shall be deemed to have been giver, to Borrower whet. given in the mataner designated herein.
<br />1~. Uniform Mortgage; Governing Law; Severability. This form of utartgage combines uniform cotenants
<br />far national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform secu-
<br />rity instrument covering real property. This Mortgage shall be governed by the law ot" ±.hc jurisdiction in which
<br />the Property is located. In the etent that any provision or clause of this Jortgage or 'the Noie conflicts with
<br />applicable law, such conflict. shall not affect other precisions of this Mortgage or t-he Note which can be given
<br />effect without the conflicting provision, and to this end the provisions of the Mortgage and the Note are declared
<br />to be severable.
<br />16. Borrower's Copy. Borrower shall be furnishes{ n conformed copy of this \lortgage at the time of execu-
<br />Lion or after recordation 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 by Borrower without Lender's prior written consent, excluding (a} tL-e creation of a lien or encum-
<br />prance subordinate to this Mortgage, (bj t}tC creation of a purchase money security interest for household appli-
<br />snces, (c) a transfer by devise, descent or by operation of latt upon the death of a joint tenant or (d) the, grant of
<br />any leasehold interest of three years m• less not containing an option to purctase, Lender may, at Lender's option;
<br />declare all 'the sums secured by this Mortgage to be immediately due ancf payable. Lender shall have waived such
<br />I optiont-o accelerate if, prior to the sale or t-ransfer, Lender and the Peron to whom the Property is to be sold or
<br />transferred reach agreement in writing that the credit of such person is satisfaetat}• to Lender and that the interest
<br />payable on the Burns secured by this Mortgage shall be at such t.~atc as Lender shall request. If Lender has waived
<br />the option to scceleraie provided in this paragraph 1" and if Borrower's successor in interest has executed s writ-
<br />ten assumptiat agreement accepted in writing by Lender, Lender shall release Borrota-er frau all obligations under
<br />This Mortgage and the Note.
<br />If Lender exercises such option to accelerate, tender shall mail Borrower notice of acceleration in aeeordanee
<br />with paragraph I~# hereof. `;uch notic~• =hail t+rocida a period of not iea.~ [Ilan 3fl $ays frem the date the notice is
<br />mailed t hi:: tvl.ich Burrartcr may 1~ai iht . tuts ,ie ar~3 due°. 1 I3urrc~w+•r f.ut~ to pay such sum; prior to the
<br />expiration of such period. Lender may, without ftuther notice or dctnarnt ua i3orron•ar, invoke auc remedies per-
<br />milted by paragraph 1& hereof-
<br />:~;-1`t~criat t'ov~.vA~:rs. is.~rrc~teor irn.i 1.eiidi:r t'uttltti•r rovtttattt .ind amerce us Yailc~w-s:
<br />1B- A~eleratan. Remedies. Pic-t~l=t t - ht-=t6~ - cam, t=a : tl=i: l i heretaf. upoe Borrower's btt>arh of any
<br />oavEnx~nt or aRr~-rt„~rnt of h_,~ ~~ivt°r it Thies 'rlortgnei , trriuuir~c t'r~r• <<-wrrznTS ro Isar wticn due- env cants setureti
<br />by this \lortgttge, Lender I:nur to aerclcrution shall [nail notic,• to Borroavor as providt~l in paragraph l~ hereof
<br />specifying: Ili the bnar•h; i2i the action required to eut~ such breach; t31 a date, not less than thirL}• [lays
<br />from the date thc• roticc i~ utailed to Borrower. I,}- winch sue•h hreue4t must be curcai; and t41 that failure to cure
<br />such breach on or before the date specitied in the notice may result in acceleration of tiro suntx secured by this
<br />Mortgage and ,ale ui the Property. If the breach is not cured on or before the oars specified iu thr nonce, Lender
<br />at Lender's option may declare all of the stuns securer( by this A[ortgugc to he inunediateh• due ;nut payable
<br />without further deunanri and ruely foreclose this \lurtgago by •iudirial preceediug, Lender shall its entitled to collect
<br />in such proceeding all expenses of forcclosurc, inelu,ling, but cot limited to, costs of docuutentar}• cridenca,
<br />abstracts and title reports.
<br />18. Borrower's Right to Reinstate. tiotttitltstanding Lender's acceleration of the sums secured i,v this
<br />:klortgagc. Borrower shall have the right to hate uuy procecdin±ns bcgmt by Lender w culotte tlus ltort~;agc dis-
<br />continued at any time prior to entry of a juelhmant enfuTcing this \lortgage it, tat Borrower Irsya Lender all
<br />sums which would be then due under this Mortgage, the Note au,l uohr~ securing Futan• Adtanre~. ii any, had no
<br />acceleration occurred; Ib) Borrower rotes all breaches of ant other cotenants ur agmements of Borrower con-
<br />tained in this'Yfortgage; {ej Borrower Irttys all reasomtblc cxireases incurrrd by Ixnder in ~•nfar<•inl; the covenant.
<br />and ngroetnents of Barron-er containet itt this ~Iortgnge and in eufareing I,cnder's retedies ns procidt'tt in pant-
<br />-graph 1& hereof, inchtding, but not limited to, reasanalae attorneys leas: and tdt I3orrowrr takes .uch cellar .as
<br />Lender may reasonably require to assure that the lien of this ~lortgagc, l.cuder'~ interest in the Pmlurty and
<br />Borrower's obligation to pay the _cums secured by this \iortga,a :hall cunthuu~ uuimpaircd. L`pon such payment
<br />and cure by Borrower, this :Mortgage and the obligations secured hereby shall retrain in tali torc•c and effect as if
<br />no acceleration had occurred.
<br />2(!. Assignment of Reate; Appoiatmeat of Receiver; Lender in Posaestuon. As atlditionul security here-
<br />under, Borrower hereby assigns to Lender the rents of the Praperty, provided that Borratvcr shall, prior to acceler-
<br />ation tinder paragraph 18 hereof or aha~donment of the Property, have the right to collect and retain such rents
<br />as they become due and payable.
<br />I?pon acceleration under paragraph 18 hereof ur ahsndonment of the Property, Lender, in person, by agent
<br />or by judicially appointed receiver shall be entitled to enter c,pon.take possession of and manage the Property
<br />and to collect the rents of the Property, including those past due. All rents collected he Lender or the n:cciver
<br />shall be applied frst to payment of the costs of management of the Property and c•olleetion of rents. including, but
<br />not Ii~nited t.o, receiver's fees, premiums an revels°ers i>onds and reasonai~rte attornet•'s fee=, and thew to the sums
<br />secured by this :blart.gage. Lender and the receiver shall be liable to account only for those rents achtally receited.
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