HomeMy WebLinkAbout0403 prior to entry of a judgment enforcing this Mortgage it: la) Borrower pays Lender all sums which would be then due under
this Mortgage, the Note and notes securing Future Advances. if any, had no acceleration occurred: Ibl Borrower cures
all breaches of any other covenants or agreements of Borrower contained in this Mortgage; (c) Borrower pays all rcawnable
expenses incurred by Lender in enforcing the covenants and agreements of Borrower contained in this Mortgage and in
enforcing Lender i remedies as provided in paragraph 18 hereof, including, but not limited to, reasonable attomey's fees; and
Id) Borrower takes such action as lender may reau~nably rcyuirc to assure that the lien of this Mortgage, lenderi interest
in the Properly and Borrower's obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upon such
payment and cure by Borrowers this Mortgage and the obligations secured hereby shall remain in full force and effect as ~t
no acceleration had occurred.
20. Assigetneat of Reatsy Appoialtneat 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 i 8 heteof or abandon-
ment of the Property, have the right to collect and retain such rents as they b:come due and payabk.
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 collect the rents of the
Property, including those past due. All rents coiiected 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, receiver's tees. premiums on receiver i
Bonds and reasonable attorney's fees, and then to the sums secured by this I?tortgage. The receiver shall be liable to account
only for those rents actually received.
21. Fuhtre Advances. Upon request by Borrower, lender, at Lender's option within twenty years from the date of this
Mortgage, malt make Future Advances to Borrower. Such Future Advances, with interest thereon, shall br 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 Mortgage, not including sums adv ~ ac~oidance herewith to protect the
security of this Mortgage, exceed the original amount of the Note plus USS. ~'!~0 • uu.......... •
22. Release. Upon payment of all sums secured by this Mortgage, lender shall release this Mortgage without charge
to Borrower. Borrower shall pay all costs of recordation, if any.
23. Atooraey's Fees. As used in this Mortgage and in the Note, "attorney's fees" shall include attorney's fees, it any,
which may be awarded by an appellate court.
IN WITNESS WttEREOF, Borrower has executed this Mortgage.
Signed. sealed grid delivered
in the presence af:
a+ ~ . ~t..-~c~t~ ~ . ~ ~ ~ ` (Seal)
T,ortariio 'll+l' ' ro'
~r!!~ -eorrawr
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y (Seal,
U Euqe Meloro --eor~«
STATE OF NEW JERSEY, MONMOUTH
3~iXKlEKA1sl~2iiX• . . .............County ss:
[hereby certify that on this day. before mc, an officer dulYY`a--uthorized in the state aforesaid and in the county
I'' aforesaid to take acknowledgements, personally appeared. LORENZO MELORO _and-EUGENIA MELORO,
his wife to me known to be the person(s) described in and who executed the
.
foregoing instrument and acknowledged before me that.. ,they , . , , .executed the same for the purpose therein
~ expressed.
i
j •~V(trK,~,s my hand and official seal in the county and state aforesaid this:"~.........1'. k........day of
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y~ . 19. -
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