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Home My WebLink About0937 a ' ~ 10. Borrowe~ Not Rela~ed; Forbearaece By Lead~er Not a Wdrer. Eztension of the time for payment or modifica- tion of amortization of the sums secuced by this Mortgage gran~~~ide~ to~~~~~~ssor~in i~terest of Borrower shall not operate to release. in any manner. th~ liability of the oii rcower wer s successo~s ia interest. Lender shall not be rcyuired to commence proceedings against such successor a refuse to extend time foc payment or f otherwise modify amortization of the sums secured by this Mortgage by reasoa of any demand made by the original Bor- ~ rower and Borrower's successors ia interest. Any forbearance by Lender it~ exe~+cising any right or remedy hereunder, or otherwise af1'orded by applicable law, shall aot be a waiver of or preclude the ezercise of any such right or remody. 11. Sue~eawes and Assipn Bonn~ ~otnt aad Se~aal L4bWt~r; Co-sip~ees. The coreaaats and agreemeats herein contained shall bind. and the rights hereuader shall inure to. the respective successors and assigns of Lender aad Bor- rov?~er. subject to the provisions of paragraph 16 hereof. All covenants and agreements of Borrower shall be joint and several. Any Borrower who rn•signs this Mortgage, but dces not ezecute the Note. (a) is co-signiag this Mortgage only to ~ mortgage. grant and convey that Borrower's interest in the Property to I.ender uader the terms of this Mortgage. (b) is not personally liable on the Note or under this Mortgage, and (c) agnes that Lender and any other Borrowcr hereunder may agree to eaRend, modify. forbear, or make any other accommodations with regard to the terms of this Mortgage or ; the Note without that Borrower's consent and without celeasing that Borrower or modifying this Mortgage as to that ~ Borrower's intetest in the Property. z 12. NoHoe. Faccept for any notice required under applicable law to be giren in another manner, (a) any notice to Borrower provided for in this Mortgage shall be given by deliveting it or by mailing such notice by certified mail addressed to Botrovrer at the Propetty Address or at such othec addtess as Bon~ower may designate by notice to Lender as pmvided herein, and (b) any notice to Lender shall be given by certified mail to Lender's address stated herein or to such other address as Lender may_ designate by notice to Botrower as provided herein. Any notice ptovided for in this Mortgage shall be deemed to have been given to Borcower or Lender when gived in the manner designated herein. 13. Go~erning Lw; Se~erabWtp. 'I7~e state and local laws applicable to this Mortgage shall be the Iaws of the jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of Federal law to this Mortgage. In the event that any provision or clause otthis Mortgage or the Note rnnflicts with applicable law. such conflict shall not at'~'ect other provisions of this Mortgage or the Note which can be given effect without the conflirting provision. and to this end the provisions of this Mortgage and the Note are declared to be severable. As used herein. "costs", "eapenses" and "attorneys' fees" include all sums to the extent not prohibited by applicable law or limited herein. 14. Hoerower's CopJ. Bortovrer shall be furnished a conformed copy of the Note and of this Modgage at the ~ time of execution or aRer recordation hereof. - ' 15. RehabWtatjon I.oan Age~eement. Borrower shall fulfill all of Borrower's obligations under any home rehabilita- ; tion, improvement, repair, or other loan agreement which Borrower enters into with Lender. Lender. at L.ender's option, may: require Borrower to eaecute and deliver to Lender. in a form acceptable to Lender, an assignment of any rights. claims or defenses which Bomower may have against parties who supply labor, materials or services in conaection with improvements made to the Property. 16. Traosfer of tbe Property. If Borrower selis or transfers all or any part of the Property or an interest therein, ea- cluding (a) the ereation of a lien or encumbrance subordinate to this Mortgage, (b) a transfer by devise, deuent. or by operation of law upon the death of a joint tenant, or (c) the grant of any leasehold interest of three years or less not con- ~ taining an option to purchase. Borrower shall cause to be submitted information required by Lender to evaluate the transferee as if a new loan were being made to the transferee. Borrower will continue to be obligated under the Note and this Mortgage unle.ss Lender releases Borrower in writing. ` If I.ender, on the basis of any information obtained regarding the transferee, reasonably determines that Lender's ` security may be impaired. or that there is an unacceptable likelihood of a breach of any covenant or agreement in this Mortgage. or if the requited information is not submitted. I.ender may declare all of the sums secured by this Mortgage - to be immediately due and payable. If Lender exercises such option to aceelerate. Leader shall mail Borrower notice of acceleration in accordance with paragtaph 12 hereof. Such notice shall provide a period of not less than 30 days from the date th., notice is mailed or delivered within which Borrovrer may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period. Lender may, without further notice or demand on Borrower, invoke ~ any remedies permitted by pazagraph 17 hereof. NoN-U[viFORM Cov~t~r~ri'S. Borrower and Lender further covenant and agree as follows: ; 17. Accekration; Remedks. Eioept as pro~ided in pacagraph 16 6ereof, apon Borrower's bresc6 of any rn~enant or agrecment of Borrorrer In th4 Mortgsge, inctadieg t6e co~enants to pa~ when dae aa~ snms accand by thk Mod- gage. Lender pdor to acccleratbn shall gt~e notlce to Borrower as provided in paragraph 12 6ereof specifjing: (1) t6e - breac6; (2) t6e uNon reqnirsd to cnre sac6 beeach; (3) a da~e, noc Ias t~an 10 aar ~rom rhe date rh~ noaoe ~s maned to Borrower, b' whtr6 sac6 breac6 most be cnred; and (4~ t6at fiilare to cure suc6 beeach on or beforc t6e dste speci6ed In the notioe ma~ raalt in acoderstbn of the aoms serored b~ thi~ Mortgage, foeedosare b' jadlcial prooseding, and sale of t6e Propert~. T6e aotke shall fartLer inform Borrower of the right to reinstatt after acceleraNon and t!k right to ` assert in t6e foreclosure proceeding the none~stence of a defwlt or aa~ other defease of Borrower to acceleratbn aod - foreclosare. If the brsach is not cured on or before th~ dah spec[8ed in the notke, Lender, at Lender's option, ms~ dec4~n ~Il of tLe sams ~ecae~ed by d~is Mortgwge to be immedlatd~ dae and pa~abk wlthoat fadber demand. and ma~ _ foreclose tWs Mortg,age by judkW pmceeding. Lender shalt be enNtkd to collect in snc6 proceedIng all ezpensa of ~ forsclosnre, inclading, bnt not llmltal to, reasonabk attorne's' fers, rnnrt cosb, and oosts of dorameatar~ erideocs, abstrac4 and tltk e~eports. 18. Borrower's RIg6t to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage due to Borrower's breach, Bomow~er shall have the right to have any proceedings begun by Lender to enforce this Mort- gage discontinued ~t any time prior to entry of a judgment enforcing this Mortgage if: (a) Borrower pays Lender al! sums ~~hich would be then due under this Mortgage and the Note had no acceleration occurred; (b) Borrower cures all breaches of any other covenants or agreements of Borrower rnntained in this Mortgage; (c) Borrower pays all reasonable expenses incurred by Lender in enforcing the covenants and agreements of Bonower contained in this Mortgage. and in enforcing Lender's remedies as provided in paragraph 17 hereof, including, but not limited to, reasonabie attorneys' fees and court costs; and (d) Borrower takes such action as Lender may reasonably require to assure that the lien of this ' Mortgage. Lender'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 Borrower, this Mortgage and the obligations secured hereby shall remain in full force and effect as if no acceleration had occuned. ~ 19. A~signment of Renb; Appointment of Receiver. As additional security hereunder. Borrower hereby assigns to E Lender the rents of the Property, provided that Bonower shall, prior to acceleration under paragraph 17 hereof or aban- ; donment of the Property, have the right to collect and retain such rents as they become due and payable. ~ 410 P~,E 937 ~ ~ - - -