HomeMy WebLinkAbout2452prior to entry of a judgment enforcing this Mortgage if : t a l Borrower pays Lender all sums which would he then due under
this Mortgage, the Note and notes secunng Future Advances, if any, had no acceleration occurred: 1h1 Borrower curet
all hreach~~ of any other covenants or agreements of Borrower contained in this Mortgage; Ic) Borrower pays all reasonable
expenses incurred h}• Lender in enforcing the covenants and agreements of Barmwer contained in this Mortgage and in
enforcing Lender's remedies as provided in paragraph 1 R hereot, including, but not limited ta, reasonable attorney's fees: and
1 d) Borrower takes such action as lender may reasonably require to assure that the lien of this Mortgage, l.ende~ s interest
in the Property and Borrower's obligation to pay the sums secured by this ]Mortgage shall continue unimpaired. Upon such
payment and cure by Harrower. this Mortgage and the obligations secured hereby shall remain in Lull force and effect as if
no acceleration had occurred.
20. Assignment of Rents; Appointment of Receiver. As additional security hereunder, Borrower hereby a.signs to
Lender the rents of the Property, provided that Borrower shall, prior to acceleration under paragraph 1R hereof ar abandon-
ment of the Property, have the right to collect and retain such rents as they became due and payable.
Upon acceleration under paragraph 1 K hereot 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 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 ta, receiver's fees, premiums on receiver's
twnds and reasonable attorney's fees, anti then to the sums secured by this Mortgage. The receiver shall be liable to account
only for those rents actually received.
21. Future Advances. Upon request by Barrow•er, Lender, at Lender's option within twenty years from the date of this
;1lartgage, may make Future Advances to Borrower. Such Future Advances, with interest thereon, shall he 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 advanced in accordance herewith to protect the
security of this Mortgage, excted the original amount of the Nate plus USS.10.4RQ.OD .................
22. Release. Upon payment of all sums secured by this Mortgage, tender shall release this Mortgage without charge
to Borruwrr. Borrower shall pay all costs of recordation, it any.
23. Accuracy's Fees. As used in this Mortgage and in the Note. "attorney's fees" shall include attorney's fees, if any.
which may be awarded by an appellate court.
IN WITNESS WttEREOF, Borrower has executed this Mortgage.
Signed, sealed and delivered
in the presence of:
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~~
.... ~~.~:~"'.'t:`'" :. ............... .................. ..............:...... (Seal)
Edward H. Peterson ~OfO1Ntf
.~............~ .................... .... l ~ : .......(Seal)
ICat teen A. Peterson 'eOtfO1Met
NEW JERSEY, /~
STATE OF icb9iliBrk . .............../ '/ ~ /2 Gt !'~ ............COUnIy SS:
I hereby certify that on this day, before roc, an officer duly authorized in the state aforesaid and in the county
aforesaid to take acknowledgements, personally appeared..EDW,>,RD H_ •BETERSON .and•1CAT13i.EEN •A. • • • • • • -
• DETER.SON, . his• tsi.fs • • • • • • • . • • • .... , 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.
Ly!
WITNESS~ny hand and official seal in the county and state aforesaid this........G ..............day of
..........~c E.M~l~'it ....... 1980.....
Mx~Commission expires: ~ /
s.~!±tl Cl ....... ........( ...................................
r,,s...,~ j6Mt1 Notary Public
.'.ar ; r ~' ~fi,
..
~ " -- NOVEIbl;,c. ~ _. J. 1933
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(Space Below This Line Reserved For Lender end Recorder)
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