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Home My WebLink About0973 10. Bonowet Not Released; Forbearance By Lendec Not a Walver. Extension ot the t~me tor payme~~< modification of amort~zation of the sums secured by this Mortgage granted by Lender to any successor in interest o! Borrower shall not operate to release, in any manner, the liability of the original Borrower and Bonower s success~rs i ~n interest Lender shail not be required to commence proceedings against such successor or refuse to extend t~me (or payment or otheru•ise modify amortization of the sums securetl by this Mortgage.by rYason of any demAnd made by the originaf Borrower and Borrower's successors in interest. Any fotbearance by Lender in exercising any righc or remedy hereunder. or otherwise afforded by applicable law, shall not be a waiver oi or preclude the exercise of any such right or remedy. ~ 1 I. Successors and Asslgns Bound; Jolnt and Several LiabfHty; Co-slgnerc. The covenants and agree• ! ments herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns ot Lender and Borro~ver, subject to the provisions of paragraph 16 her¢of. All covenants and agreements of Borrower shall be joint and several. Any Borrower who casigns this Mortgage, but does not execute the Note, (a) is casigning 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 personalty tiable 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 accommodations with regard to the terms o( this Mortgage or the I~ote without that Borrower s consent and without releasing that Borrower or modifying this Mortgage as to that Borrower s interest in the P~operty. ~ 12. Notlce. Except for any notice required under applicable law to be given in another manner, (aj any notice to Borrower provided {or in this Mortgage shall be given by delivering it or by mailing such notice by certitied maii addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to Len- I der as provided herein, and (b) any notice to Lender shall be given by certified mail to Lender s addrzss stated here~n or to such other address as Lender may designate by notice to Borro~~er as provided herein. Any notice provided for in this Mortgage shatl be deemed to have been gi~en to Borrower or Lender when given in the manner design~ted herein. 13. Gaverning Law; Severability. The state and loca! laws appiicable to this Mortgage shall be the lau~s of the , jurisdict;~n i~ which the Property is Iocated. The foregoing sentence shall not limit the applicabiliry of Federal law to i`~is MortgagP. In the event that any provision or clause of this Mortgage or the Note conilicts with applicable law. such contl~:t shatl r~ot affect other provisions of this Martgage or the Note which can be given effect without the conflicting provision, and to this end the provisions ot this Mortgage and the Note are declared to be severable. As used here~n. "~~;is ,"expenses' and "attorneys fees' include all sums to the extent not prohibited by appticable iaw or limited herein. 14. Borrowet's Copy. Bonower shall be fumished a contormed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. ~ 15. RehabiHtaNon Loan Agreetnent Borrower shall fulfill all of Borrower s obligations under any home ' rehabilitation, improvement, repair, or other loan agreement which Borrower enters into with Lender. Lender, at C.en• der s option, may require Sorrower to execute and deliver to Lender, in a torm acceptable to Lender, an assignment of any rights. claims or detenses which Borrower may have against parties who suppty labor. materials ar services in con- nection with improvements made to the Property. 16. Transfer oi th¢ Property. If Borrower sells or transfers all or any part of the Property or an interest therein, excluding(a) the creation of a tien or encumbrance subordinaie tothis Mortgage, (b) a transfer by devise, descent, or by operation of law upon the death ot a joint tenan~ 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 evatuate the transferee as if a new loan were being made to the transferee. Borrower will continue to be obligated under the Note and this N,ortgage unless Lender releases Borrower 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 informatian is not submitted. Lender may declare all of the sums secured by this Mottgage 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 provide a period o# not less than 30 days irom the date the notice is mailed or delivered within which Borrower may pay the sums declared due. If Borro~rer 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. No~.-Uti~FOFM CovEtia.~.ts. Borrower and Lender further covenant and agree as fol~ows: 17. Acceieratlon; Remedie~. Except as provld¢d in paragraph 16 hereof, upon Botrowec's breach ot any covenant or agreemeret of Borrower in this Mortgage, inctuding the covenants to pay when due any sums secured by this Mortgage, Lender prior to acceleration shalt give notice to Borrower as provided in paragraph 12 hereof specifying (1) the breach; (2) the actlon required to cure such breach; (3) a date, not less than 10 days from the date and notlce is mailed to Borrower, by which such breach must be cured; and (4) that failure to cure 6uch breach on or before the date t~pecified in Lhe nodce rnay result in acceleratlon of the sums secured by this Mortgage, for¢ctosure by )udidal proceeding, and sale of the Property. The notice ehall further inform Borrower of the right to reinstate aher acceleratlon and the ~ right to assert In the foreclosure proceeding the nonexfstence ot a default or any other defense of If 8onower to acceleration and foreclosure. If the breach is not cured on or before the date speciNed in the notlce, Lender, at Lende~'s optlon, may deciare all of the sums s¢cured by this Mortgage to be itnmedi- i ately due and payable without furiher demand and may forecto6e this Morigage by judicial proceeding. Lender shall be entltled to collect in such proceeding a!1 expen6es of foreclosure, including, but not Ilmited to, reasonabte attorneys' fees, court costs, of documentary evldence, abstracts and tftle reports. 1$. Borrower's Rlght to Refnstate. Notwithstanding Lender s acceleration of the sums secured b~• this Mortgage due ro Borrower s breath. Borrower shall have the right to have any proceedings begun by Lender to entorce th~s Mortgage d+scontinued at any time prior to ent?S,~ of a judgment enforcing this Mortgage i!: (a} Borrouer pa;s Lender a!•. sums u~hich k~ould be then due under this Mortgage and the Note had no acceleration occurred. 1bi Borrower cures all breaches of any other covenants or agreements of Borrower contained in this Mortgage: (cl Borro~•er pays aii reasonable expenses incuned by~ Lender in enforcing the covenants and agreements af Borro~+e. contained in this Mortgage. and :n enforcing Lender s remedies as provided in paragraph 17 hereof, including, but not ~~mited to. reasonabie attorneys' fees and court costs: and (dj Borrower takes such action as Lender may reasonab:~• require to assure that the lien of this Mortgage. Lender s interest in the Property and Borrower's obligation to Ga~~ 'he ! sums secured by this Mortgage shail continue unimpaired Upon such payment and cure by Borrower, th~s Mortgaoe and the obl;gat~ons secured hereby shall remain in fuli force and effect as if no acceferation had occured. 19. Assignment of Rents; Appointme~t af f~eceiver. As addit~onal securit~• hereunde*. Borrouer here~; a~~igns to Lerder the rent~ oi the Property. pro~~;~'ed that Borrou~er shall prior to acceleration under paragrap~: 1 1 ~,~~•v.:~r L~.~ ~~~:-:e':. Pr~~'r` },a4t' 1~ie i:C~; t~~ CC~~E:. d~i~ litZlil SUC~. iF.^.i5 d5 S}1P'y ~r'CC!TlF C.:C' d~:_ ~:~''e J ~ Page T}~~ree oi F~,ur 5~~~~K 576 973 , _ _ ~ t;