The URL can be used to link to this page

Home My WebLink About0937 LS. ~ Is; S~e~abiilit~. ~is Security I~oetncoent ehall be 8overned by federal l.aw and die lay+ of the j~iedictian in Which the Property ia located. In tt~ a+~?~ that any pcovisian ac clauee of this Sec~irity I~tn~ent oc ti~e Note oaiflicts with applicable l~,i, such conflict ehall aot affect other provisia~s of this Security Inetn~nt or the Not,e ~ich ca~ be given effect without tbe ooaflicting p~rwisim. To this e~d the praviaia~s of this Security Iffitz~ent and ~e Notes are declared to be aeverable. 16. D~+a~er'• mpj. Bocra~er ehall be given aoe coaforimed oopy of the Note a~d of this Security Insttvm~ent. 17e ~[a af tie Pmpectj ar a DereE'icisl I~eca~t ia Daiooa~Q. If all or aay part of t3~e P=vperty ar any interest in it is sold ar transferred (ac if a beneficial interest in BorroWez is sold ar traasferred by and Barro~er is mt a nat~sal person) ~rithout La~der's prior written oonsent, La~der m~;?i at ita im~ediate payment in full of all s~s seaired by this Security Instr~. Ha~ever, this optian shall not be ~'cised by I.a~der if exercise is prahibited by federal larr sa of d~ date of thia Seeurity Instn~esit. If La~der exercises this optian, Lender ehall give Borraa~r notioe of acoeleratian. Tt~e c~otioe ehall provide a period of n~t less than 30 days fram ~e dste the mtioe is delivered ar mailed within ~ich B~rc~ must pay all e~os sec~sed by this Security Inatnmcnt. If Borra~er fa.i.ls to pay these ams prior to the expiration of this period. Leoder may inwloe ary raoedies permitted by this Security Iffitn~nt without fisther c~ot ioe ar d~and ai Borr~er. lB~. amelema; ad asedis T~e is of the essa~ce t~ere~r if Barro~er defaults in tfie perform~nce ~ observanoe af any canna~t ar obli.gatian here~ader aac fails to make any payment due u~de+r the note ar obli~tion secured hereby including any ~xte+asiaa, ra~es~l, modification, ar eubstitution d~?ereof or in ~e event a proceediqg in bffiilaniptc.y is ioatituted by ar a;gainst the Borrwer ac if the Bor=u~rec shall mabe an assigpment for the ba~efit of creditors ar if tfie property ~ich ig enc~bexed heremder is placed ~nder the aontrol of oc in the custody of any oourt or if tt~e Barraaer ahall aba~daa thi,~ pcoperty then upon the occurra~oe of any a~e or more of the fiore~oing t3~e Letider ~all have tfie rig~t, at its aptim, and without affecting aay ri.g~its of the lenda herand~ to declare vithait notioe, all s~s sewred hereby, iamediately ~~d payaaie whether ar not such default is s?,bsequently Y~edied by the Borro~rer. ~e La~des ~all hav~e t3?e right to apply aiy amounts cei,dered by the Borraaer toKard any indebtedness of the Borra~a to the L~ and d~e Lender may, ~ its optian also proceed to i~ediately fnreclose this martg~ge and pursue ary and all Leg,al or equitabLe renedies available to it and upm such foreclosure to forae a sale af the property ~amb~ed here~mder uiithout Waiv~er of any rig~t to oollect a deficiency subsequait to such sale. L9. Isiier i~a A~we~sia. Upoa acceleratioa u~der ParagraPh LS or ab~adom~nt o€ tfie PropertY~ Le~der ~bY j udici.ally appointed reoeiv~sr) ahall be entitled to enter upan, talae po~sessim of and m~na8e the Property and to - oollect the renta of the Property including those pest due. Aay ranta o~llected by Ls~der or d~e receiver ehall . be applied first to psyment of the c:osts of manag~ent of the Property scd oollect:un of renta, includug, but ~ot limited to, receivez's fees, premi~s an receiver's ba~c~s and reasatiable attomeys' fees, and t~ai to tfie ~s secured by this Secasity Instnment. 1D. aelere. Upon payment of all s~s ~ecured by tfiis Security I~tniment, Le~der ehall release tfiis Seeurity Inatrument without d~argre tn Bortnwpr. Barro~es shall pey any reo~rdation oosts. . 21. AtOo~yys' I~ees. Lender ehall be aititled, ia oonnectian ~rith pursuing aiy of its i~edies arising hereis~der, wdg the aote secured hereby, ar at la+ ar equity to collect all expenses inanrred by it including b.~e mt limited to reasonable attorneys' fees and oosta ~ich ~all inclu3e ary attorneys' f,ees a~arded by ai ap~pellate oourt. n. ao~tiaoe ~ s'k+per;o~ Mo~t~~(•). ~e sorra~r ahail oom~ly ~ict? ana abide b~? ev~? te~m, cov~a~az~t mod cx~odition of any su~erias m~rtg,ag~ ar mortg,ages presently ~beriqg the p~roperty. A default, F delinqua~cy, ar £ail~a~e to obse=ve ary term, oo~vezisnt or oooditi.an u~der ary aiperiar mortgage ar mortg,a~es ahall ; autcmatically scd i~edi.ately ooostitute a default ~ this Security Ic~strmoe~rt. The Lender is pxpreasly ~ a,ud~orized at its aption to advance all s~s necessary to keeP aiY ~xior arntg~ge or mortg,ages in 8c~od t s tandizg sad all e~s ao advance~ togethec with interest at the rate of 2ig~teen perce~ (18X) pa~ azmm shall be ~ secured hereby and ahall be subject to the provisioas of paragraph 23 of this mortgage. Barrwer agrees mt to r ~ :~ake any agreemait vith the holder ~of mry superior m~rtg~e a~ mortgages that shall, in anY ~Y~ ~ifY, € alter, or ectend ary of the terms ~ oa~ditia~s of that superi.or m~rtg~ge ar no~rtg~ges mr ahall tiie Ba-rawer request ar aocept any futuie advancea u~~ said superiar mortg,a~e or mortg,a,ges uTithout the ~e.ss written ~ ~ consent of tfie La~der . ; ~ 2i. I.iabdlii~ fne If Borraaer fails to PaY ~Y ~8~, oc obli$atioos required to be ~ t. P~id bY Barra,~a ~ ar p~ssusnt to the tesms az~d conditia~s of the Credit Li~ Agreena~t vr this Security ; ~ Insti~nt within dte time set fnrth for ti~at payment, the Lecder shall hav~e the rig}~t to pay the s~e without ~ ~aivi~g or affecting the option of the Lez~dpr to oonsider this Sec~ity Instnm~it in default puraisnt to ~ i the ovisioas ~et ~rth herein. E t made ! P~ ~ery paymen by the Le~der ahall bear interest fram the date of said ; payment at the rate of eigt?teen perca~t (18X) per ffiu~ and every psyment eo made by ttie I.a~r shall be deemed i ! ( i ~ ~ r F' ~ F ~ i ~ I INITIAL H~RE ~ ~ BQOK ~5 PAGE ~U . ~ _ _ ~ _