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Home My WebLink About0918 ~ . • I0. B~ro~ Not Relwcd; Fo:b~eu~ac+e BJ Leader Kot a Wal~er. Extension of the time for psyer~ent o~ modi~ic~- ~ tion of ~moctiz~tion of tha sums secu~cd by thts Mortgsge granted by L,ender to any :uccessor i~ tatorest of Boc~ower shall not opecat~ to ntease, ln any manner. the lisbillty of the odginal Bon~ower aad Bocrovrer's successors in inte~est. Lender shall not be requicod to commence pcoceedings sgainst such sucesssoc or cethu to extend time for payment or otha~wise modify amortiuttoa of the auins secured by this Moctgsge by reason of ~ny demau?d made by the original8o~- rower ~nd Bon~ower's succe~sors in iaterest. Any forbeuanee by Leader in exercisiag any dght or remedy hereundec. or othecaise afforded by applicable law, sha11 aot be a waiver of or preclude the exercise af any such dght or remody. 11. Sacee~wes ~nd A~ Ho~~ Jotnt ~ad SNecat Lisblllt~i Co~sfpen. The covenants snd agreements hereln coatained shali biad. and the dghts hereunder ~hall Inuc+e to. the c+espectIve suecesson snd asslgns of i.ender and Bor- ~ow~er~ subject to the poovislons of puagraph 16 hereof. Al! rovenaats suid agreements of Borrower shall be joint u~d ~ sevtral. Any Borrower who co-algns this Mortgsge~ but doca aot ex~cute the Note, (a) is co•signl~g thts Mortgage only to mortg~ge. graat and convey thst Borrovrer's interest in the Property to I.ender under the terma of thls Mortgage. (b) is aot personally liable oa the Note or under this Mortg~ge. and (c) agras that Lendet snd aay other Boccower henuader may agrea to eactend. modify, forbeu, or make any other accommodations with rigard to the terms of this Moctgage or the Note without that Botrower's rnnsent and wtthout celeasing that Borcower or modifying this Mortgage as to that BorcorMer's intecest in the Propecty. 12. Notiee. Exapt for any notice required under applicable law to be given in another manner~ (a) any notice to Bonower provided for in this Mortgage shall br givtn by delivering it or by mailing such notice by certified mail ad- drrssed to Borrower at the Property Addrtss or at such other address as Bonower may designate by notice to Lende~ as provided herein. and (b) ~ny notice to Lender shall be given by certified mail to Lender's address statsd herein or to such other address as Lender may de3ignate by notice to Borcower as provided herein. Any notice providod for in this Mongage shall be deemed to have been given to Borrower or Lender when givtn in the manner designated herein. 13. Ge~eenin= Lw~ Se~ee~WSt~. Th~ state and local lsws appikable to thts Mortgage shalt be the taws of the jurisdiMion in whlch the Propecty is locatod. The forega~ng sentence shaU not limit the appllcability of Foderal law to this MoRgage. In the event thst any pnov~sion or clausz of this Mortgsge or the Note ~onflicts with applecable law, such conflirt shali not affeM othet provisions of this Mortgage or the Note which can be given effect without the conflf~ting pc~ovision. and to thLs end the provisions of` thts Mortgage and the Note are declsited to be severable. As used hereia. "coats". "e:penses" and "attorneya' fees" include all sums to the ertent not pcohibitod by spplirable iaw or limital hecein. 14. Bon+o~r's Cop~. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of execution or after raordstioa heraof. 1S. Re6abWtat{on Loan Asreemeot. Botrower shalt futfilt all of Borrower's obtigatioas under any home nhabilita- tion. improvement. eepair. or other tonn agrament which Borrower enters into with Lender. Lender. at Lender's opiion. may require Boreower to ezecate snd deliver to Leader, in a form scceptsble to Lender, an assignment of any rights, ciaims or defenses which Borrower may have sgainst parties who supply lsbor, matedals or secvices in connection with improvemeuts raade to the Property. l6. Traaafer ot tbe Property or s BeaetkW Interes! ie Borrower. If all or any part of the Properfy or any intcrest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Le~dtr's prior vrritten conunt, Lendor may. at its option, require immediate payment in full of ali su!ns secured by this Mortgage. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Mortgage. i If Lender exercises ti?is option, Lender shal! giv~ Bor~ower aotice of acceleration. The noiice shall provide a ~ period of not iess than 30 days from the date the notice is delivered or mailed within which Borrower must pay ali sums ~ secured by this Mortgage. If Borrowor fails to pay thes~ sums prior to the expiration of this period, Lendtr may in- i voke.any remtdies permitted by this Mortgage without further notice or demand on Borrower. i Not~-UNtFORtv~ COvEN~N~rs. Borrower and Lender funher covenant and agra as follows: ~ ~ 17. Aoodastbo; R~. Eio~t as prarlded la par~nipb 16 6ereoEs apon Bocrower'~ be~each of aa~ oo~enant ~ or ~t of BoeroMrer in this Mort~a~e, iocladint tbe cormanb to ps~ whae doe m~ stims ~ecar~d by tbL Ma~t- j p~ie. Le~da prio~ to ~codastfon ~bW ti~e notfa to Horrow~er as prortded In paraSnp6 tZ bee~o[ sp~s (1) tbe i b~aic6; (Z) t6e action r~qate~ed to care ~~c6 be~;j3f a d~te. eat ten t~a 10 da~s 6roa~ t6e d~te tbe aatloe it eulkd to , Boee+o~rer, b~' whkh s~e6 be~e~c6 ~ast bs cared; asd (4) tLst bUar~ to care s~e6 breacb os ar bsloes d~e date speNA~d ta ! tbe ootfoe m~e~ r+esalt ia soedantlon oi tbe sma secorod b~ t~Y Mortpre, Eoeedossirs b~ jad{c6~1 Prooee~, aed sale oi tLe Prapert~. Tbie mtloe s6~U teiet6a taform Bore~rer a[ tbe ei~6t to ee~rt~ts sfta aooder~tbo aad tbe e~ht to ~ assat in t6e fonclosan prooeedl~= tbe aaoe~steaee of a~Cfaolt or aa~ et5a defesse of HoeroMrer to aoodentioa and foreclos~re. I[ tbe be~eac6 is aet ce~eed on oe betoee tbe dat~e sp~+ct8~d b t6e nodc~, La~da, at Lend~er's optMa, ms~ dee{ar~e all of tb~ smns ~caral by th4 Moet~e to be imme~std~ dae aad pa~sble Mrlt6oat fartba demand snd may fonclose dd~ Modp~c by 1ddkW Procee~• Geoder shall ix entttkd to edkct ta socb proo~cdia= a!t e:penies of forecfostire, [acla~, bat not Ifmlted to, re~oaabk attomrys' fea. coort cost~, aad s~osb of doea~neatar~ eHdeace, abtrach add dde rts. . . !8. Horro~rer's Ris6t to Rsinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage due to Borrower's breach. Borrower shall have the tight to have any ptoceedings begun by Lender to enforce this Moct- gage discantioued at any time prior to entry of a judgment enfo~+cing this Mortgage if: (a) Borrawer pays Lender all sums which would be then due under this Mortgage and the Note had no acceleration occurnd; (b) Borrower cures all breaches of any other covenants or agreements of Bocrowtr contained in this Mortgage; (c) Borrovrer pays aIt teasonable e:penses incur~ed by Lendec in enforcing t6e cavenants and agreements of Bortower contained in this Mortgage~ and in enforcing Lender's nmedies as provided in paragraph I7 heteof. including. bat not limited to, reasonable attorncys' fees and rnurt caats; snd (d) Borrower tskes such action as Lender may reasonably require to assure ihat the lien of this Mortgage. Lender's interat io the Property and Borrower's abligation to pay the sums secured by this Mortgage shall continue unimpaered. Upon such paymsnt and cure by Borrower, this N9ortgage and the obligations secured henby shall remain in full force and effect u if no acceteration had occurrod. 19. Aul~nmeot ot Rwts; Appotntment of Reocher. As additional security haeunder. Borrower henby assigns to Lender the oents of the Propetty. provided that Bottowe~ shail, prior to acceleration under paragraph 17 hereof or aban- donmemt of the Property. have the right to collect and retain such rents as they bacome due and payable. Upon aoccleration uada paragraph 17 heceof or abandonrryent of the Pro~erty, Ltnder shail be entitlod to have a ra~eivEr appointed by a caurt to enter upon. take possession of and mu~age the Property aad to ~o1lect the rents of the Property inclading thos~ past due. Atl rents rnllectod by thc re~eivcr shall be applied fint to payment of the costs of ' managemeat of thc Property and co)lection of nnts, including, but not limited to, receiver's fees, prcmiums on receiver's i bonds ana reasonsble attarneys' fecs, and then to the sums ser~red by this Mortgage. The receiva shall be liable to ar cou~t only for those rents actually received. ~ R 559 PACE ~7~V BOOK