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Home My WebLink About0971 . . 5 10. 8arow~r Not Reka~d; Foebear~nce B~r Lend~r Not ~ R?airu. oa of th'~~ f~9r payment or modifica- tio~i of amortiiation of the sums secueed by this Mortgage gnntod by LeE~~ aay s~cte~dt in iaterest of Borrower . shall not operate to release. in any maaaer. the liability of the original Borrower and Barow~er's successors in intcrest. Lendec'shall aot be requirod to commeace proce~diags against such successor o~ refuu to est e~t: pa otherwise modify amortizatiod of the sums secured by this Mortgage by reasoa of any demand a~ the ori r- rower and Borrower's succeuors in interest. Any forbearance by I.ender ia ezercising any right or nraedy hertuader. or otherwise affordod by applicable law. shall not be a waiver of or pteclude the e:ercise of any such right or ctmody. 1l. Succason and Assi~as Bo~~ ]oint aad Se~ea! IJabWt~; Coiipas. The corenaats aad agreements herein rnntained shall bind, and the rights hereunder shall inure to, the respective succescots and assigns of Leader aad Bor- rower. subjoct to the provisions of paragraph 16 hereof. All covenaats and agreemeats of Borrower shall be joint and several. Any Borrower who co•sigus this Mortgage~ but dces not execute the Note. (a) is co-sigaing this Mortgage only to mortgage. grant and convey that Borrower's interest in the Property to Lender under the terms of this Mortgage~ (b) Is ~ not personally liable on the Note or under this Mortgage. and (c) agrces that I.ender and any other Borrovrer hereunder ~ may agree to ertend. 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 iaterest in the Propecty. . ~ 12. Nodoe. Except for any notice required under applicable law to be given in another manner. (a) any notice to 4 Borrower provided for in this Mortgage shall be given by delivering it or by mailing such notice by certified mail , addressed to Borrower at the Property Address or at such other address as Borrower may daignate by notice to Lender as provided herein. and (b) any notice to Lender shall be given by certified mail to Lender's addc~ess statod herein or to ~ such other addre.cs as Lender may designate by aotice to Borrower as pmvided herein. Any notice provided for in this - Mortgage shall be dcemed to have been given to Bomower or Lender when given in the maaner designated herein. ~ 13. Go~erning I.aw; Se~erabWt~. The state and local laws applicable to this Mortgage shall be the laws of the jurisdiction in which the Property is located. 'I7ie for~going sentence shall aot limit the applicability of Federal law to ' this Mortgage. In the event that any provision or claase of this Mortgage or the Note conflirts with applicable law. such E conflirt shall not aP.'ect other provisions of this Mortgage or the Note which can be given effect without the conflicting provision. and to thic end the provisions of this Mortgage and the Note are declared to be severable. As used herein. ~ "costs", "expenses" and "attorneys' fees" include all sums .to the eatent not prohibited by applicable law or limited ~ herein. ~ 14. Borrow~r's Cop~. Botrower shall be furnished a conformed copy of the Note and of this Mortgage at the ' time of execution or after recordation hereof. ~ 15. Rehabilitation Loan Agrament. Borrower shall fulfill all of Borrower's obligations under any home rehabilita- tion. improvement, repair. or other loan agteement which Borrower enters into with I.ender. Lender, at Lender's option, may tequire Botrow~er to eaecute and deliver to Lender, in a form acceptable to Lender, an assignment of any rights. claims or defenses which Borrower may have against parties who supply labor. materials or services in rnnnection with improvemeats made to the Property. 16. 'l~aasfer of t6e Propert~. If Botrower sells or transfers all or any part of the Property or an interest therein, ex- ~ cluding (a) th~ creation of a lien or encumbrance subordinate to this Mortgage, (b) a transfer by devise, descent. 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 aot 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 unless Lender releases Bocrower in writing. If Lender, 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 required infotmation is not submitted, Lender may declare all of the sums secured by this Mortgage to be immediately due and payable. If Lender eaemises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with paragraph 12 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is maited or delivered within which Borrower 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 paragraph 17 hereof. ' . NON-UNtFORM COVENAt~T~'S. Borrower and Lender further covenant and agree as follows: 17. Aooderation; Remedks. Ezcept as provided in paragcaph 16 hereof, npon Borrower's breac6 of an' covenant or agrcement of Hoernwer in this Mortgage, Inclnding the co~enaa4 to pa~ w6en dae any sams secaced by th4 Mod- Sage. Lender prior to acceleratbn shall gt~e notlce to BorroMrer as prorided in puagraph 121~ereof specifying: ~l) the ~ brach; (Z) the actbn reqnlnd to care snc6 be~a~c6; (3) a date, not lea th~a 10 days from the date the notioe M mailed to. ' Borrower, b~ whtc6 sac6 breac6 most be curad; and (4? thst fiilare to care sac6 bn;ach on or before the date speci6ed In t6e notice ma~ radt in accderatbn of the sams secared b~ t6i~ Mortgage, foeeclosan b~ judlcial proc~ding, and sale of the Propert~. T6e notloe s6all fart6er inform Borrovrer of the rtg6t to rdnstate after accderadon snd t6e rig6t to ~ assert in t6e foreclosae+e prooealing t6e nonezistence of s defanlt or nny other defen~ of Borrower to acoeleration and fonclosare. If the breach b not cnred on or befor~ t6e date speci8ed in the notl~x, I,ender, at Lender's opdon, may declare all of t6e snms secnral by thb Mortgage to be Immediatel~ dde and pa'abie Mritlwat further demand smd ms~ foreclose thh Mortg,~ge b~ jadicW proce~ding. Lender s6a11 be endtkd to collect in sach prncceding all e:pemes of - ' foreclosare, inclading, but not llmitai to, nasonable attorneys' fees, conrt costs, and cos4 of docamentary evidenoe, . abstracts aad titk e~wrts. ; ` 18. Borrower's Rtght to Rdnstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage I ` due to Borrower's breach, Borrower shall have the right to have any proceedings begun by Lender to enforce this Mort- ` gage discontinued at any time prior to entry of a judgment enforcing this Mortgage if: (a) Borrower pays Lender all sums ; which would be then due under this Mortgage and the Note had no acceleration occuned; (b) Borrower cures all ; f ~ breaches of any other covenants or agreements of Borrower contained in this Mortgage: (c) Borrower pays all reasonable ' s expenses incurred by Lender in enforcing the covenants and agreements of Borrower contained in this Mortgage, and in : enforcing Lender's remedies az provided in paragraph 17 hereof, including, but not limited to, reasonable attorneys' fees ~ and court costs; and (d) Bonower 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 care by Borrower, this Mortgage and the obligations secured hereby ` shall remain in full force and effecf as if no acceleration had occurred. ; . s 19. Assi~ment of Renb; Appoiatment of Receiver. As additional ~security hereunder, Borrower hereby assigns to ~ Lender the rents of the Property, provided that Borrowet shali, prior to acceleration under paragraph 17 heceof or aban- donment of the Propecty, have the right to collect and retain such rents as;h~ Lecome due and payable. ~ ~ 8~~~ ~d6f~ ~43_4 ~ 9~9 l14 ~:a-~ec~,: - ; ~ _ - ~,~`a - ~ ,