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Home My WebLink About0965 • 1 _ . 10. Bonower Not Released: Forbearance By Lender Not A Waiver. E~ten;:on ef ~he ;:me for pat,~izn; ~r modif~cation of amortitation of the sums secured by this Mortgage granted by Lender to any successor ;n ~nterest ot Borrower shall not operate to release. in any manner. che I~abihty of the ong~nal Borrower and Borrower~s successors tn interest L~nder shall not be required to commence proceedings against such successor or refuse to extend hme for payment or otherwise modify amorti~at~on of the sums secured by th~s ;~lortgage by reason of any demand made by the original Borrou,~er and Bo~rower's successors in tnterest. Any forbearance by Lender in exercising any right or ;emedy hereunder. or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such r,ght or remedy~ 11. Successors and Assigns Bound; Joint and Several Llability; Co-slgners. The covenants and agreements here~n conta~ned shall bind, and the r:ght; hereunder shall inure to, the respective successors and ass?gns of ~z~der and Borrow~r. ~ub~ect to the prov~sion oi paragraph Ib hereof All coverants and agreements of Bortower shall be ~oint and several. Any Borrower who co-signs this Mortgage, but does not execute the Note, (a) is co-signing this Mortgage only to mortgage, grant and convey that Borrower's interest in the Property to Lender under the terms of this Mortgage, Ib) is not personaliy liable on the Note or under this Mortgage, and (c) agrees that Lender and any other Bor- rower hereunder may agree to extend, modify. forbear, or make any other accommodations with regard to the terms of tnis Mortgage or the [~Iote without that Borrower's consent and without releasing that Borrower or modifying this Mor- tgage as to that Borrower's interest in the Property. 12. Notice. Except for any notice required under appiicable !aw to be given in another manner. (a) any notice to Borrower provided for in this Mortgage shall be given by delivering it or by mailing such notice by certified mail addressed to Borrower at the Property Address or at such other address as Bonower may designate by notice to~ Lender as provided herem, and (b) any notice to Lender shall be given by certified mail to Lender's address stated h¢rein 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 have ^~en given to Borrower or Lender when given in the manner designated herein. 13. Governing Law; 5everabillty. The state and locaf laws applicable to this Mortgage shall be the laws of the iurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of Federal law to this Mortgage. [n the event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict ;hall ~:ot affect other provisions of this Mortgage or the tiote 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 us¢d herein, "costs", "expenses" and "attorneys' fees" include all sums to the extent not prohibited by applicable law or limited herein. 14. BorTOwer's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. 15. ltehabilitaNon Loan Agreemeni. Borrower shall fulfill all of Borrower's obligations under any home rehabilitation. ~mprovement, repair, or other loan agreement wh~ch Bonower enters into with Lender. Lender, at ~ ~ Lender's option, may require Bonower to execute and deliver to Lender, in a form acceptable to Lender, an assignment y ! nf ~n~ ~.~r,F,e~ .-I~~~~ ~~l~~.x~ wtii~ii uvtiv'vSiri may have a~ainst parties who supply iabar, fTldtefibl5 Oi 5¢NICeS Ifl CO(1- ne;.:ion w~th improvements made to the Property. 16. Transfer of th~ Property. If BorTOwer sells or transfers all or any part of the Properry or an interest therein, ' excluding (a1 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 ' ~his Mortgage unless Lender releases Borrower in writing. ' [f Lender, on the basis of any informadon obtained regarding the transferee, reasonably determines that Lender's ~ ~ecurity may be impaired. or that there is an unacceptable iikelihood of a breach of any covenant or agreement in this ~ ~lortgage, or if the requirea ~nformation is not submitted. Lender may declare all of the sums secured by this Mortgage to E be immediately due and payable. lf 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 € !he date the notice is mailed or delivered within which Borrower may pay the sums declared due. If Borrower 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. NON UfrIFORM COVEtiANTS Borrower and Lender further covQnant and agree as follows: ~ 17. AcceleraNon; Remedles. Except as p~ovided in paragraph 16 hereof. upon Borrower's breach of s any covenant or agreement of Borrower in this Mortgage. including the covenanb to pay when due any ~ sums ~ecured by this Mortgage. Lender prior to acceleration shall give nodce to Bocrower as proWded in paragraph 12 hereof specifying: (1) the breach: (2) the action required to cure such breach; (3) a date, not ~ less than 10 days from the date and notlce ia mailed to Borrower, by which such breach mwt be cured; ~ and (4) that failure to cure such breach on or before the date speciHed in the notlce taay result In accelera- ; tion of the sums secured by this Mortgage, foreclosure by Judiclal proceeding, and sale of the Property. ~ The notice shall further inform Borrowcr of the right to reinstate after acceleratlo~ and the right to assert in the foreclosure proceeding the nonexistence of a default or any other defense of BoROwer to accelera• ~ tion and foreclosure. If the breach b not cured on or before the date speclNed in the noNce, I.ender, at Lender's option. may declare all of the sums secured by this Mortgage to be immediately due snd payable ~ without further demand and may foreclose this Mortgage by )udicial proceedtng. I.ender shall be entlded ~ to collect in such proceeding al! expenaes of foreclosure, including, but not Il~ited to, reasonable at- tomeys' fees, court cosb. cost af documsntary ~Wdence, abstracb and tlde reporta. 18. Borrower's Rlght to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage due to Borrower's breach. Borrower shall have the right to have any pTOCeedings begun by Lender to enforce this Mortgage discQntinued at any time prior to entry of a judgment enforcing this Mortgage if: (a) Borrower pays Lender all sums which would be then due under this Mortgage and the Note had no acceleration occurred: (b) Borrower cures all breaches of any other covenants or agreements of Borrower contained in this Mortgage: (c) Borrower pays all reasonable expenses incurred by Lender in enforcing the coverants and agreements of Borrower contained in this Mortgage, and in enforcing Lender's remedies as pro~~ided in paragraph 17 hereof, including, but not limited to, reasonable attorneys' fees and court costs: and (d) Borrower takes such action as Lender may reasonably require to assure that the lien of this Mortgage. Lender's interest m the Property and Borrower's obligation to pay the sums secured by this Mortgage shall { continue unimpaired. Upon such paymeni and cure by Borrower, this Mortgage and the obligations seeured hereby shall s remain in full force and effect as if no acceleration had occured. 19. Aasignment of Rents; Appointraent of Receiver. As additional secunry hereunder, Borrower hereby ' assigns ro Lender the rents af the Properry, provided thai Borrower shall, prior to accel¢ration undar paragraph 17 hereof or abandonment of the Property, have the right to collect and retain such rents as they becom¢ due and payablF . Page Three of Four aoo~ 675 p~~E 965 A=~: .,`~-~V'. av, __~vYe~, _.~x, a_,r~^~ _,~:•'~-~='~iv3