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Home My WebLink About0067 !0. Borroher Not Released; Eb~be~trance B~ Les~drr Not a Wai~er. Extensiun uf the timc fur pa~m~nt ur mc~ditira- ti~~n ut amurtizatiun r~f the ~um~ secured by thit Muctgage granted b~• L.~nder to an}• surres~or in interrst ol Burn~Hrr ,hall n~~t ~~pcrat~ to rrlease, in an~• manner, the liabilit~~ of the uri~;inal 6orrc~~er and Born~H~er's surrr~sun in interest. !_en~lrr tihall nut be reyuired ta r~~mmen~e pnxeedings against such sucressur ur refuse to rxtrnd time tix pa}~m~m ur uthrn~ itie mudif~• amurtization ot~the sums ~ecurrd b}• this Mortgage b~• reason of any demand made b}~ the oriKinal Bur- ruuer and Surruwer's successors in interest. Any forbearance by Lender in exercising an~• right ur remed~• hereundrr, or utherwise ati~urded b}• applicabie law~, shall not be a w•aiver of ar preclude the exercise of any surh right or remed}•. 11. Suecessors $nd Assigns Bound; Jolnt and Several Liabillt~~; Co•slgners. The covrnants and agreements herein cuntained sh~li bind, and the rights hereunder shail inure to, the respecti~~e successors and assigns of Lender and Bur- ru~er, subject to the provisions of paragraph Ib hereuf. All co~•enants and agreements of BorroH~er shall be joint and scceral. Am• Borrower u~ho co-signs this Mortgage, hut dc~e;s not execute the N~te, laf is co-signing this Mortgage only tu mongage, grant and cam~ey that Barrow~er's interest in the Pronert~~ r~ I vnr~Pr ~~.,.+N~ •A•..~~ . . . ..~.o ...v~~~al{c. ~u~ ti nut personall}~ liable ~m the Note or under this Mortgage, and (cl agrees that Lender and an~• other Borrow~er hereundcr ma}~ agree to estend, modify, forbear, ur make an~• other accotnmodations w•ith regard tc~ the terms of this Murtgage or the Note w•iihout that Borrow•er's consent and without releasing that Qorrow~er or moditj~ing this Mortgage as to that Borrow~er's interest in the Property. 12. tiotice. Except for an~~ notire reyuired under applirable laH to be gi~~en in another manner, (a) an~~ noti~r tu t3orro~~er pro~~ided for in this !~9ortgage shatt be gi~~en by deli~~erii~g it or b~• mailing surh notice b}• c~rtificd mail acl- dressed to Borro~ver at the Property Addr,ss or at ~urh other address as Borro«er ma}~ designate b~• noticr to Lencler a, pro~ided herein, and (b) an~~ notice to Lender ~hall be gi~en by certified mail to Lender's address ~tated herein ur tu su~h other addres, as Lender ma}• de;ignate b~• notice to Borro~er as pro~ided herein. Any notice pro~ided t~or in thi~ ~lortgage shall be deemed to ha~e been gi~en to Borro~~er or l.cnder ~~hen gi~en +~i the mann~r designated herrin. 13. Governing Law; Severabtlity. The state and local IaH~s applicable to this Mortgage shall be the law~s of the jurisdiction in w~hizh the Propert}~ is located. The foregoing sentence shat! not limit the applicabilit}~ of Federal law~ to this Mortgage_ ln the e~•ent that any pmti•ision ar clause of this Mortgage or the Note conflicts a~ith applicable law•, such contlict sha11 not at~ect other provisions ot~ this Mortgage or the Note w~hich can be gi~~en effect w~ithout the conflicting pro~~ision, and to this end the pro~•isions of this Mortgage and the Note are declared to be se~•erable. As used herein, "costs'~. "expenses" and "attorne~s' fees" incfude alt sums to the exient not prohfbited b~• applicable iaw• or limited herein. 1~3. Borrow~er's Cop~. Borrow•er shall he Curnished a conformed cop~~ ut the Note and of this Mortgage at the time ot'cxecution or after recordation hereof. 15. Rehabilitation Loan Agreement. Borrow~er shall fultill all of Borrow~er's obligations under an}~ horne rehabilita- i tiun, impro~•ement, repair, or other loan agreement w~hich Borroaer enters into w~ith Lender. Lender, at Lender's option, ~ ma~~ require Borroa~er to execute and deli~•er ta Lender, in a torm acceptable to Lender, an assignment of am~ rights, claims or defenses w~hich Bonow~er ma~• ha~•e against parties u~ho suppl~~ labor, materials or sen~ires in connertion w-ith impro~~ements made to the Property. 16. Transfer of the Property or a Beneficisl lnterest in Borrower. It a!1 or an~ part of the Propert~~ or an~~ intereu in it is sold or transferred (or if a beneficial interest in Borro~er is sold or transi~erred and Borroaer is no[ a natural person) without Lender's prior w•ritten consent, 1_ender ma~~, at its option, require immediate pa}~ment in tiull of all sums secured by this I~lortgage. Howe~er, this option shall not be e~ercised b} Lender it exercise iti prohibited b~ federal law as of the date of this Mortgage. If Lender exercises this option, Lender shall gi~e Borro~~er notice of acrelrration. The ni~tice ~hatl pro~ide a period of not less than 30 days from the date the notire is deli~ercd or mailed ~+ithin hirh Borro~+er must pa~~ all sums secured b}~ this Mortgage. If Borrow~er fails to pay~ these sums prior to the expiration of this perioci, Lender ma~ in- ~ ~oke ~?n}~ remedies permitted by this'~iortgage Hithout further notice or demand on Borro~~er. NC)~i-UN{FOR~1 COVEhAtvTS. Borrow~er and Lender turther co~~enant and agree as follotis: 17. Acceteration; Remedies. Except ac provided in paragraph l6 hereof~ upon Borrower's brearh of any cor~enen~ or agreemEnt of Borrower in this Mortgage~ including the covenents to par when due any~ sums secured by th~s Mort- gage. Lender prior to acceleration shall g[ve nottce to Borrower as provided in paragraph 12 hereof specitying: (1! the breac6; (2) the actlon required to cure such breach; (31 a date~ not tess than 10 days from the date the notice Is malled to Borrower, by which suc6 brearh must be cured; and (4) that failure to cure such breach on or before the date sptci$ed in the notice may result In acceleration of the sums srcured by this Mortgage~ foreclosure by jud[cial proceeding, and sale of the Property. The notice shall further inform Borrower of the rEght to reinstate after acceleration and the rtght to assert in the forecfosure proceeding the noneaLstence of a default or sny other defense of Borrower to acceleration and foreclosure. tf the breach is not cured on or before the date specifled in the notice~ Lender~ at Lender•s optic?n~ may declare all of the sums secured by thEs Mortgatte to be immedi,+rpl~ .I~~P payable witho;:i .u.: ~ee ~cmund and may foreclose this Morigage by judletal proceeding. Lender shall be entitled to collect in such proceeding all e:penses of foreclosure, includtng, but not limited to, reasanable attorneys' fees, court costs~ and costs o( documentary~ evidence, abstracts and title reports. 18. Borrower's Right to Reinstate. Notwithstanding Lender's acceteratian of the sums secured by this Mortgage due to Borrow~er's breach. Borrow~er shall hav~tbe right to have an}~ proceedings begun b}• Lender to enforce this Mort- ~age discontinued at any time prior to entry of a judgmeni.gnfo~~in~ ~tis.Mortgage if: (a) Borrow~er pa}~s Lender ail sum~ which waufd be then due under this Mortgage and the Note had no acceleration occurred: (b) Borrow~er cures all breaches ot~ any other covenants or agreements of Barro~~er contained in this Mortgage: Ic) Borrow•er pa}•s all reasonable cxpenses incurred b~• Lender in enforcing the co~~enants and agreements of BorroH•er contained in this Mortgage, and in enforcing l.ender's remedies as prc~~~ided in paragraph 17 hereof, including, bui not limited to, reasonable attorneys' (ees and court ants: and Id) Borrow~er takes such action as Lender may reasonabl}~ require t~ assure that the lien of this Mortgage. L.ender's interest in the Propert~~ and Borrow~er's obligation to pa}• the sums secured b~~ this Mortgage shall continue unimpaired. Upon such pay~ment and cure hy Borrow•er, thic Mortgage and the obligations secured hereb}• tihall remain in full force and effect as if no acceleration had occurred. 19. Assignment of Rents; Appointment of Receiver. As additional securit}• hercunder, Borrow~er hereb~~ assigns t~ Lender the rents of the Property, pro~•ided that $orrow•er shall, prior to acceleration under paragraph 1 i hereof or aban- donment of the Property, have the right to coilect and retain such rents as they become due and pa}~able. t,~pon acceleration under paragraph 17 hereof or abandonment of the Property, Lender shall be entitled to have a receiver appointed by a court to enter upon. take possession of and manage the Pro}',erty and to collect the rents of the Property including those past due. A{I rents collected by~ the receiver shall be applied first to paytnent o#~ the costs of management of the Property and collection of rents. including, but not iimited to, recei~~er's t~ees, premiums on receiver's bonds and reasonable attorneys' fees, and then to the sums secured by this Mortgage. The receiver shail be liable to ac- rc~unt onlv for those rents actuallv recei~ed. ao~~ 675 ~ ~~.E 067 - _ ~ ~ _ : , ~ _ -~..~~s-' -t ~-2