HomeMy WebLinkAbout0192 prior to entry of a judgment enforcing this Mortgage il: (a) Borrower pays Lender all sums which would be then due ur?der
this Mortgage, the Note and notes securing Future Advances, if any, had no acceleration occurred; (b) Borrower cures
all breaches of anyother covenants or agreements of Borrower contained in this Mortgage; Ic) Borrower pays all reasonable
expenses incurred by Lender in enforcing the covenants and agreements of Borrower contained in This Mortgage and in
enforcing Lenders remedies as provided in paragraph 18 hereof, including, but not limited to, reasonable attorneys lees;
and (d) Borrower takes such action as lender may reasonably require to assure that the lien of this Mortgage, Lenders in•
terest in the Property and Borrowers obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upon
such payment and cure by Borrower, this Mortgage and the obligations secured hereby shall remain in full force and effect
as if no acceleration had occurred.
20. Assignment of Rents; Appointment of Receiver. As additional security hereunder, Borrower hereby assigns
to Lender the rents of the Property, provided that Borrower shall, prior to acceleration under paragraph 18 hereof orabandon•
merit of the Property, have the right to collect and retain such rents as they become due and payable.
Upon acceleration under paragraph 18 hereof or abandonment of the Property, lender shall be entitled to have a
receiver appointed by a court to enter upon, take possession of and manage the Property and to cotleCl the rents of the
Property, including those past due. All rents collected by the receiver shall be applied first to payment of the costs of
management of the Property and collection of rents, including, but not limited to, receivers lees, premiums on receivers
bonds and reasonable attorneys fees, and then to the sums secured by this Mortgage. The receiver shall be liable to acccunt
only for those rents actually received.
21. Future Advances. Upon request by Borrower, Lender, at Lenders option within twenty years from the date of this
Mortgage, may make Future Advances to Borrower. Such Future Advances, with interest thereon, shall be secured by this
Mortgage when evidenced by promissory notes stating that said notes are secured hereby. At no time shall the principal
amount of the indebtedness secured by this *~2crtgage, nat including sums advanced in accordance herewith to protect the
security of this Mortgage, exceed the original amount of the Note plus US$ s 80000. 00
22. Release. Upon payment of all sums secured by This Mortgage, Lender shall release this Mortgagewithout charge
to Borrower. Borrower shall pay all costs of recordation, it any.
23. Attorney's Fees. As used in this Mortgage and in the Note. "attorneys fees" shaft include attorneys tees: if any,
which may be awarded by an appellate court.
IN WITNESS WHEREOF, Borrower has executed this Mortgage.
Signed. sealed and delivered
in the presence of:
~ • ' ` C (Seat)
ANK A. RUSSO
~~-c<-.? ~ _ ~~~-!"'r (Seal)
IfARCIA L. RUSSO
(Seaq
(Seaq
~ STATE OF}iX®RQ04, VIRGINIA County ss: '
I hereby certify that on this day, before me. an officer duly authorized in the state aforesaid and in the county
aforesaid to take acknowledgements, personally appeared
FRANK A. RUSSO ANL MARCIA L. RUSSO, HIS WIFE
. to me known to be the personls) described in and who executed the
foregoing instrument and acknowledged before me that Borrower executed the same for the purpose therein
expressed. n
WITNESS my hand and official seal in the county and state aforesaid this - day of
OC~'O~ER , 19 80 .
My CosmglitsS~ip,
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j''-• Notary Public
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f - My Commission Expires K,arch 19,195„
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(Space Below This Line Reserved for Lender and Recorder)
soaK342 P~
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RENEGOTIABLE RATE FFMC (6/80) ;
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