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Home My WebLink About0954 , ~ 10. Botrower Not Rek~sadti Fo=beariutce By I.~ackt Not s Wal~ec. Ertension of thc time for payment or modifica- tion of amortization of the sums secured by this Mortgage grantod by Lender to any successor in interest of Borrower shail not opcrate to releasc, in any manner, the liability of the original Borrowcr and Borrower's successors in interest. Lender shall not be required to commence proceediags against such successor or refuse to extend tlme for payment or othetwise modify amortization of the sums secured by this Mortgage by reason of any demand made by the o~iginai Bor- rower and Bonower's successors in lnterest. Any forbearance by Lender tn e:ercisit~g any right or remedy hereunder, or otherwise aPforded by applicable Iaw~ shall not be a waiver of or preclude the tzercise of any such right or remody. 11. Sacca~on and Asd~ Boond; 7otnt sad Ser~r~i UabWty; Co-~l~nen. The covenants and agreements hercin contained shall bind, and the rights hereunder shall inure to. the respectivc sucassors and assigns of Lender and Bor- tower, subject to the provisions of paragtaph 16 hereof. All covenants and agreements of Borrower shall be joint and several. Any Borrower who co-signs this Mortgage, but dces not execute the Note. (a) i3 co-signing this Mortgage only to mor2gage, grant and convey that Borrower's interest in the Property to Lende~ under the terms of this Mortgage, (b) is not personally liable on the Note or u»der this Mortgag~, and (c) agrees that Lender and any other Borrower hereunder may agree to extend. 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 releasing that Bonower or modifying this Mortgage as to that Borrower's interest in the Ptoperty. 12. NoHa. Except for any notice requircd under applicable law to be given in another manner, (a) any notice to ~ . Borrower provided for in this Mortgage shall be given by delivering it ~r by mailing such notice by certified mail addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to I.ender as provided herei~, and (b) any notice to Lender shall be given by certified maif to L.ender's address stated herein or to such other address as Lender may designate by notice to Bonower as provided herein. Any notice provided for in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. 13. Governlag I.aw; SeverablUty. The state and local laws applicable to this Mortgage shall be the laws of the jurisdiction in a~hich the Property is located. The focegoing sentence shall not limit the applicability of Federal law to this Mortgage. In the event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this 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 extent not prohibited by applicable law or limited herein. 14. BoeTOwer's Copy. Bonower shall be furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. 15. Rehabilttation Loan Agreement. Borrow~er shall fulfill all of Borrow~er's obligations under any home rehabilita- tion, improvement, repair, or other loan agreement w•hich Borrower enters into with Lender. I.ender. at Lender's option, may require Borrower to execute and deliver to L,ender, in a form acceptable to Lender, an assignment of any rights, claims or defenses w~hich Borrower may har•e against parties w•ho supply labor, materials or sen~ices in connection with improvements made to the Property. 16. Tranefer of the Property. If Bonower sells or transfers ali or any patt of the Property or an interest therein, ex- cluding (a) the 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 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 unless Lender releases Bonow•er 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 co~~enant or agreement in this Mortgage, or if the required information is not submitted, Lender may declare all of the sums secured by this Mortgage to be immediately due and payable. If Lender exercises such option to accelerate, Lender shall mail Bonower notice of acceleration in accordance with paragraph 12 hereof. Such notice shall pro~~ide a period of not less than 30 days from the date the notice is mailed or delivered w~ithin w•hich Borrow•er may pay the sums declared due. lf Borrow•er fails to pay such sums prior to the expiration of such period, Lender may. without further notice or demand on Borro~•er, invoke any remedies permitted by paragraph 17 hereof. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 17. Acceleration; Remedla. E:cept as provided In puagrap6 16 hereof, upon Borrower's brexrh oL any covenant or agreement of Borrower !n this Mortgage, inclading t6e covenants to pay when dae any sums secured by thb 111ort- gage, Lender prior to uceleratlon ~6all gire noHce to Borrower us provided in paragraph l2 hereof specifjtng: (11 t6e breac6; (2? the actlon requlred to care ~ac6 breach; (3) a date, not less t6an 10 day~ from the date the notice is roalled to Borrower, by whlc6 ~acb bres~c6 mmt be cured; and (4) t6at faUure to cure suc6 brPach on or before the date apeci8ed in the noHce muy reacilt [n acceleration of the samt sec~red by thb Mortgnge, foreclosure by judlcial proceeding, and sale ~ of t6e Property. The noNce ~hall fnrt6er inform Borrower of the dgbt to relnatate after acceleration and the rtght w - assert tn the forrclosare ptoceeding the none:btence of e default or any other defense of Bonower to acceleration and foreclosore. If the breach Is not cared oa or before t6e date specifTed in the noNce, Lender, at Lender's opNon, mAy declare all of the eams Kcared bv this Mortgage to be [mmedl:ttely due and payable without fyr4her.¢emend nnd may foreclose thls Mortgage by Judtcfal proceedtng. I.ender s6a11 be entitled to cotlect •in apeh R+roCeec~tpgf al~~ gfipenses of foreclosure, tncladtng, but not Ilmlted to, reaaonable attorneys' fees, court costs, and costs of documepta~~~~~~be~tce, - abstratb and Htte reports. ' . 18. Borrower'~ Rlg6t to Re(nstute. Notwithstanding Lender's acceleration of the sums secured by this ~MoYtgage due to Botrower's breach, Borrower shall ha~•e 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: (al Borrow~er pays Cxnder aii sums whieh would be then due under this Mottgage and the Note had no acceleration occurred; (b) Borrow•er cures all breaches of any other covenants or agreements of Borrower contained in this Mortgage; (c) Borrow•er pays all reasonable expenses incurred by Lender in enforcing the covenants and agreements of BorrowPr contained in this Mortgage, and in ~ enforcing L,ender's remedies as provided in paragraph 17 hereof, including, but not limited to, reasonable attorneys' fees Q~ :i and court costs; and (d) Bonower takes such action as L.ender may reasonably require to assure that the lien of this Q _ Mortgage, I,ender's interest in the Property and Borrower's obligation to pay the sums secured by this Mortgage shall ~ continue unimpaired. Upon such paymen4 and cure by Borrower, this Mortgage and the obligations secured hereby shall remain in full force and effect as if no acceleration had occurred. !t~ ~ 19. Assignmeat of Renta; Appotntmeet of Recelver. As additional security hereunder, Borrower hereby assigns to ~ L.ender the rents of the Propetty, provided that Borrower shall, prior to acceleration under paragraph 17 hereof or aban• tt~ donment of the Property, have the right to collect and retain such rents as they become due and payable. O~ ` j . 1==-.~`-•i}~~_'-'_ 'y . . ' ' :.:et ' _ _ ."1/'~ , - +