HomeMy WebLinkAbout1768prior to entry of a judgment entorcing this Mortgage i[: (a) Borrower pays Lende~ all sums which would be then due u~der
this Mortgage. the Note and notes securing Future Advances. if any, had no accele~ation occurred; (b) Borrower cura
all breaches of any other covenants or agrcements of Borrawer contained in this Mortgage; (c) Bomowe~ pays all reasonable
expenses incurrod by Lender in entorcing the covenagts and agrcements of Bornower contained i~ this Mortgage and in
enforcing Lender's remedies as provided in paragraph 18 hercof, including. but not limited to, reuo~able attorney's fas: and
(d) Borrower takes such action as I.ender may reasonably require to assure that the lien of this Mortgage. Leoder's interest
in the Pmperty a~d Bomowe~'s obligation to pay the sums securcd by this Mortgage shall continue unimpaircd. Upon such
payment and cure by B~rrower, this Mortgage and the obligations secured hereby shall remain in full force and effect as it
no acceleration had occurred.
20. Assi~nmept ot Reat~ Appointmeat of Recelrer. As additional security hereunder. Borrower hereby assigos to
Lende~ the rents of the Property, provided that Borrower shall, prior to acceleration under paragraph 1 A hercof or abandon-
ment o~ the Pcopeny, have the right to collect and retain such re~ts u t6ey become due and payabk.
Upon acceleration unde~ paragraph 18 hereof or abandonment of the Pmperty. l.ender st-all be entitled to have a
receiver appointed by a coutt to enter upon. take possession of and manage the Property and to collect the rents of the
Property, including those past due. All rcnts collected by the receiver shall be applied 6rst to payment of the coats of
management of the Pmperly and collection of re~ts, including, but not limited to, receiver's fees, prcmiums on receiver's
bonds a~d reuonabk attorney's fees, and then to the sums secured by this Mortgage_ 'it~e receiver shaU be liable to account
only for ~hose nnts actually rcceived. ~
21. Fotwe Advances. Upon request by Borrower, I_ender, at I.ender s optian within twenty years fmm the date o[ this
Mortgage, may make Future Advances to Borrower. Such Future Advances, with interest thereon, shatl be secured by this
Mongag~ when evidenced by promissory nota stating that said notes are secured hereby. At no time shall the principal
amou~t of the indebtedness secured by this Mortgage, not includiog sums advanced in accordance herewith to protect the
security o[ this Mortgage, exceed the ~riginal amount of the Note plus USS . ............
22. Rdea~e. UpQn paymeat of all sums socured by this Mortgage. Lender shall refease this Mongage without charge
to Borrower. Borrower shall pay all costs of recordatioo. if any.
23. Attoniey's Fees. As used in this MortgagC and in the Note. "attorney's fees" shall include attorney's foa. if any,
which may be awar~kd by an appellate court.
IN WI'fNESS WHEREOF, Borrower has executecf this Mortgage.
Signcd, sealed and delivered
in thc prescnce uf:
. .~~ G .~~~z~.~. . . . . . . . . . . .
,, ..
~" . , . , -~ -
. ~: /.:~~ i :~~:~C).~~~~v` . . .
v
. . . : . . . ~. ~ . ~ ~. .1~ : ~ :~ . . . . . . . (Seal)
r]el in F. Sterner -s«.owe.
d~ T
. ~J~~ . .'~ . . . . . . . . . . . . . . . . . . . . . . . . (seal)
Gwen L. Sterner ~«~«
$TATE OF F~~~ .. . M7~hlg ~ . . . . . . . aQ~ljE~(~ISS:
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I hereby certify~hat oK this d~y, bcfore me, an officer duly authoriud in the state aforesaid and in the county
aforesaid to take acknowledgements, personally appeared. .N1e~.v~r3.F.. S.~SAPS. c~i1d GW2U.I.... Stex'I-ez.,. .
• • • .hls •w7i.fe • • • . . . . . . . . . . . . . . . . . . . . to me known to be the pcrson(s) describcd in and who eaecuted the
(oregoing instrument and acknowlcdgcd beforc me that .. th~y. ....... cxecuted the same for the purpose therein
expressed. ,
W~TNESS my hand and official seal in the cou:ity and state aforesaid this. .. .. ..23zd . ..... .. .....day of
. . . .Januar.y . . . . . . . . . . . . . . . . . . . . . . 19 . . 8:1. . . ~
My Commission expires: ~ ~
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`~E ~t:~-i4~ Natary Pu~lic, paklanl County. ~lichigaa
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(Spsce Be1ow This Line Raserved Fw Lendcr arW RecorOe~)
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