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Home My WebLink About0961 l0. 8orrower Not Released; Forbearance By Lender Not a Waiver. Extens~on of the t;me for pa~~men~ o. ~nodif~cation ot amortization of the sums szcured by th~s Mortgage granted by Lender to any successor in interesc ~f Borrower shail not operate to release, in any manner, the liability ot the original Borrower and BoROwer s successors in interest l.ender shall not be required to commence proceedings against such successor or refuse to extend t~me (or payment or otheru~ise modity amortization of the sums secured by this Mortgage by reason of any demand made by~ the originat Borrower and Borrower's successors in interest Any iorbearance by Lender in exercising any r~ght ar remedy hereunder, or otheru~ise altorded by applicable law, shal) not be a waiver oi or preclude the exercise of a~S such nght or remeds~. 11. Successors and Asslgns Bound; Jolnt and Several Liability: Casigners. The covenants and agree• ments herein contained shall bind, and the rights hereunder shall inure to, the respective successars and assigns of - Lender and Borrower, sub~ect to the provisions of paragraph 16 hereo(. All covenants a~d agreements of BorTOwer shatt be ~oint and several. Any 8orrowerwha casigns this Mortgage, but does not execute the Note, (a) is co-signing this Mortgage only to mortgage, grant and convey that Borrowei 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) agrees that Lender and any other Borrower hereunder may agree to extend, modify, forbear, or make any other accommodat~ons with regard to the terms of this Mortgage or the Note without that Borrower s consent and without releasing that Borrower or modifying this Mortgage as to that Bonowe~ s interest in the Property. 12. Notlce. Except for any notice required under appticable law to be given in another manner, (a) any notice to ~ Borrower provided tor in this Mortgage shal} be given by delivering it or by mailing suth notice by certified mai~ addressed to Borrou~er at the Properry Address or at such other address as Borrower may designate by notice to Len- der as provided herein, and (b) any notice to Lender shall be given by certified mail to Lender s address stated here,n or to such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this Mortgage shall be deemed to ha~~e been given to gorrower or Lender when given in the manner designated herein 13. ~nverning Law; Severabllity. The state and local laws applicable to this Mortgage shall be the laws of the ~~ri~:l~ctior~ in which the Property is located. The foregoing sentence shall not limit the applicabiliry of Federal law to this M.;rtgage. !n the event that any provision or clause of this Mortgage or the Note tonflicts with applicable iau•, such con(lict shall not a(fect other provisions of this Mortgage or the Note which can be given effect without the conflicting I pro~i:~o~, anci to this end the provisions of this Mortgage and the Note are declared to be severable. As used here~n. "costs'. ' expenses ~ and "attorneys (ees' include all sums to the extent not prohibited by applicable taw or limued i here~.z. l~. Bortower's Copy. Borrower shall be fumished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. 15. RehabiHtatlon Loan Agreement Borrower shall fultill all of Borrower s obligations under any home I, rehabilitation. improvement, repair, or other loan agreement which Borrower enters into with Lendec Lender, at Len- der s option, may require Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assignment ot any righis, claims or defenses which Bonower may have against parties who supply tabor. materials or services in con- nection u~ith improvements made to the Properry. ' 16. Transfer of the Property. If Borrower sells or transfers all or any part of the Propeny or an interest therein. excluding(a} the creation of a lien orencumbrance subordinate to this Mortgage, (b) a transfer by de~~ise. 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 obiigated under the Note and th~s Mortgage unless Lender releases Borrower in writing. . if Lender, on the basis of any information obtained regarding the transferee, reasonably determines that Lendei s ' security may be impaired, or thai there is an unacceptable likelihood of a breach of any covenant or agre.ement 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. lt Lender exercises 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 mailed or delivered within which Borrower may pay the sums deciared due. If Borrou~er fail~ ta pay such sums prior to the expiration of such period. Lender may, without further notice or demand on Borrou•ez. mvoke any remedies permitted by paragraph 17 hereof. Noti-U~tFOR?! COVE:~a.ti`rs. Borrower and Lender further covenant and agree as follows: ] 7. Acceleratlon; Remedies. Except as provlded in paragraph 16 hereof, upon Bonowe~ s breach of any covenant or agreement of Borrower in this Morigage, including the covenants to pay when due any ~i gums secured by tMs Mortgage, Lender prior to accelerarion shall give notice to Borrower as ptovided in ~ paragraph 12 hereof specifying: (1) the breath; (2) the actlon requtred to cure such breach; (3) a date, not less than 10 days from the date and notlce is mailed to Borrower, by whlch such breach m~st be cured: ~ and (4) that failure to cure such breach ~n or before the dale speclHed !n the notlc¢ may result in ! acceleratlon af the sums secured by this Mortgage, foreclosure by judfclal proceeding, and sale of the I Property. The ~oUce 6hatl further infornn Borrower of the Nght to rein6tate aher acceleradon and the right to assert in the foreclasure proc¢eding the nonexlstence of a default or any other defense of ~ Bonowerto acceleration and foreclosure. lf the breach is nat cured on orbefore the date specified in the notlce, Lender, at Lenders optlot~, may dec[are all of the sums secured by this Mortgage to be immed!- ' atety due and payable without further demand and may foreclose thls Mortgage by )udicla! proceeding. i.ender shall be entided to coltect in such proceeding al! expenses of ioreclosute, ineluding, but not Ilmlted to, reasonable attorneys' fees, court costs, ot documentary evtdence, abstracts and title reports. 18. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured b~• this Mortgage due to Borrower s breach. Borrower shall have the right to have any proceedings begun bS~ Lender tc• enforce this Mortgage d~scontinued at any time prior to entry of a judgment enforcing this Mortgage iI: (a) Borrou~er pa~s Lender ai? sums ~~hich u~ould be then due urder this Mortgage and the Note had no acceleration occurred. ~ b~ Borrou~er cures all breaches of any oiher covenants or agreements of Borrower contained in this Mortgage: Ici Borrou~er pays a;l reasonable expenses incurred by Lender in enforcing the covenants and agreements of Borro~~er contained ~n th~s Mongage. and in en(orcing Lender s remed~es as provided in paragraph 17 hereof, including. but r.ot l~mited to. reasonabie attorneys' fees and court costs: and (d) Borrower takes such action as Lender may reasonab;;; require to assure that the lien of th~s Mortgage. Lender s interest in the Property and Borrower's obligation to pa~ ~he i sams secured bl• this Mortgage shall continue unimpaired Upon such payment and cure by Borrower, this Mortgage and the ob~~gations secured hereby shall remain in full force and eflect as if no acceieration had occured l9. Assignment of Rents; Appointment of Recelver. As addSt;onal securit~• hereunder. Borro«er here~ _ ass~c-~s to Le~de~ tne rents o! the Property. pro~~~ded that Bonow•er shall prior to acceleration undes paragrap~. 1; . • . . ,..e' Gd'.r lf:P T~~t:: 1G CO"QCt dR~ f~Idi!l cUCft fQ•'~:~ dS the~ ~ecome d'. . : : _ '•,:e 1. ? Page Three of Four ec~,~ 568 F~~~:E yfi1 ~ ~ _ _ ~ _ ~ _ ,,,,,w,r;,•~