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Home My WebLink About1681 . , ~ . any ~un~lc:mnatiuti ur other taking u! the Pru~krt~. ~x ~~art th~reut. ~~r fur r~m~~r~anre in lieu of run~lemn;~tiun, are hereb~ a~~iKnr~1 anJ ~hall tx~ p:ii~i tu L~n~icr. uihject to the trrm~ of an~ murtgage. ~i~z~i ~~f trust ur uther sec?zrit~ a~recmrnt with a lien ~~hirh has priorit~~ ~n~er this ~furtgage. 10. Borrower Nut Rrle~u~d b~ Lender Nut a Wai~cr. E:xtcnsion uf the tinie for ~aymcnt or mcxiiticalion ot~amortilation ~~f the sums ,eture~ by this ~lortgage grante~i by~ l~cn~ier to an~ surres.u~r in interest of Borro~~er and all other parties ~s~ho are ur h~realter txcume ucon~iaril~ liahfe shali not operate to releau;, in any ?nanner, the liability of the original t3orroz~er :lI1lI I~ff(iWt;f's surcessors in interest. Lender Si~all not be reyuired ro commence proceedings against such succes~or or refuse tu extend tinx; far pa~~mcnt or oihen~•isc: mcxlify~ amoriitation of thc sums sccurcJ by this Rlortgagc by rcasan ot~ any dcmand ma~le by the ariginal E3orrou~er anJ &xrower's succeauxs in interest. An~~ forbearanee by Lender in exerci,ing an~~ right or re?nedy hereuncler, or utherH~iu; alforded b~ applicable la~~, shall not be a w~ai~~er of or preclude the exerci~ ot any such righ~ or remed)~. 11. Successurs and Atsi~ns Baund; Joint and Se~eral Liabilit}; Co•si~ners. The covenants and agr~ements herein ~untained shall bind, and the rights hereunder shall inure to, the respective succe~ors and aa~igns of Lender and Borrower, suhjei:t to the pro~~isions of ~ragraph 16 hereof. All covenants and agreements of Borrower shall be joint and several. An~• f3~rro~~~er H~ho co-signs this Mortgage, but daes not execute the Note,lal is co-signing this hlortgage only to mortga~e, grant and com~e~~ that f3orroH~er's interest in the Propc:rty to Lender under the terms of this Mortgage, lbl is not personally liable i un the Note or under this I~tortgage, and ~c1 agrees that Lender and any other Borro~~er hereun~ier may agree to extend, maiify, furtx:ar, ~~r make any other arcommcxiations ~~~ith regard to the terms of this Mortgage or the Note without that ' Borroµ~er's consc;nt and «~ithout releasir~D that E3orro~~~er or moclif~~ing this Mortgage as to that Borrower's interest in the Pr~~pert~'. 12. !~ut~ce. Ek~~cpt for any noti~~c reyuirc~l under appli~ble iaw• to be given in another manner, lal an}• notice to Borrower i pruvi~ie~i for in this h4ortgage shall be given by delivering it or by mailing such natice by ccrtifieci mail addrea~ed to f3orro~ver j at the I'~open} Addre~ statc~ci in the Note or at such other addre~s as Borro~i~er may designat~ by notice to Lender a~ provided hereirz, and Ibl any notice to Lender shall he given by certified mail t~ Lender's address stated herein or to such other address a~ Lender may dc~signate b~~ natice to Barro~~er as provided herein. Any notice provided for in this hlortgage shall be deemed u> ha~~e been gi~en to Borro~+~er or Lender ~~•hen gi~~en in the manner designated herein. 13. Go~ernin~ I.aw; Se~erabiGh. The state and local laws a~ficable to this Mortgage shall be the law•s of the jurisciiction in ~~~hich the ProExrty is located. The foregoing ~ntence shall not limit the applicability of Fecieral la~~~ to this Mortgage. In the e~~ent that any pro~~ision or ciause of this hlortgage or the Note contlicts wi[h ap~licable law, such conflict shall not affect other pro~~isions of this ?~iortgage or the Note H~hich can be given e(fect H~ithout the contlicting pro~•ision, and to this end the pro~•isions e~f this f~lortgage and the Note are declared to be severable. As used herein, "costs," "expc.nses" an~i "attorne>~s' fees" include all sums to the ertent not prohibited by applicable law or limited herein. la. BorroHCr's Copy. Borro~ver shal! bc; furnished a conformed copy of the Note and of this Mortgage. if reyuested, at the time of exerution or atter reconiation hereof. 15. Rehabilitation Loan AKreemrnt. Borrower shall fulfill all of Borro~~~er's obligations under any home rehabiGtati~n, imrrovement, re~ir, or other Ic;an agreement w~hich BorroH•er enters into ~~~ith Lender. Lender, at Lender's option, may reyuire &irro~~~er to execute an~i deliver to Lender, in a form acceptable to Lender, an assignment of any~ rights. ctaims c~r ~iet~enses ~~hich Be~rros~~er m~~~ ha~c ~gainst parties e~ho suppl}~ labor, materials or services in connection ~vith improvements ~ ma~ie ro the Propert~~. ' 16. Transfer of the Propert~. It' F3orro~~~er ~:Ils or transfers ali or any part of the Propecty or an interest therein, excluding ! ia? the creation of a lien or encumbrance subordinate to this Mortgage, Ibl a transfer by de~•ise, desc:ent, or by operation ~ uf ia~v u~n the death of a joint tenant, Ic1 the grant of any leasehold interest of three years or less not containing an option ` t~~ ~urchak:. I~i~ the creation of a~urchase mone~~ securit~~ interest for household appliances, lel a transfer to a relative resulting € frum death of a&~rro~ti•er, ff1 a transfer where the spouse or children of the f3orrower become an owner of the property. E i~l a transfer resulting from a decree of ~iisu~lution of marriage, legal separation agreement, or from an incidental propert~~ ~ ,ettlement agreement. b~ ~~hich the spou,e of the Borrower becomes an ow~ner of the property, Ihl a transfer into an inter ' ~ iccx trust in ~ti~hich th~ &~rro~s~er is and remains a beneficiary an~i which dces not relate to a transfer of rights of occupane~~ in the propert~, or Ii1 any other transfer or dis~sition described in regulations prescribed by the Fecieral Home Loan Bank ; &~ard. E;cxro«er shall c;ause ro be submitted information required by Lender to evaluate the transferee as if a new loan y ~+~ere being made to the transferee. Borro~ser will continue to be obligated under the Note and this Mortgage unless Lznder ~ releases &~rro~~~er in ~ariting. ~ If Lender doc:s not agree to the sale or transfer. Lender may declase all of the sums secured by~ this 1~lortgage tu be ~ imme~iatei~ eiuz an~l payable. If l.en~ier exercisc..~s such option to accelerate, lxnder shall mail t3orrou~er nc~tice of acreteration ~ in accordance ~~ith paragraph I? hereof. Such notice shall provide a perioci of not less than 30 days from the date the notire ~ i~ maile~i or ~eli~ere~i ~+~ithin ~~~hich Borrower ma~~ pay the sums declared due. If Borrower fails to pa}~ such sums prior ~ tu tht expiraticm of such ~erioc.i, l.ender ma~. ~~~ithout further notice or demand on Barrower, invoke an~ remedies permitted ~ b~ paragraph 17 hereof. ~ NON-UNIFORhi COVENANTS. Borrower and Lender further covenant and agree as follotti~s: ~ ~ 17. Acceleration; Remedies. F:~cept as pro~ided in paragraph 16 hereof, or otherwise b~~ law~, upon BorroHer's breach ~ of an~ co~enant or a~reerrsent of Borrower in this Mortgage, ineludin~ the co~enants to pa~ w~hen due an~~ sums secured ~ b~ this Mort~a~e, Lender prior to acceleration shall gire notice to Borrow~er as pro~~ided in paragraph 12 hereof spE~cif~ing: ' lil the breach; (2) the action reyuired to cure such breach;131 a date, not less than 10 day~s from the date the notice is mailed ro Born~Her, b~ which such breach must be cured; and (41 that faiiure to cure such breach on or before the date specified in th~ notice ma~ result in acceleration oi the sums secured b~~ this Mortgage, foreclosure b~~ judicial proceeding, and the ~ale oi the Propcrt~. The notice shall further inform SorroN~er oF the ri~ht to reinstate after acceleration and the ri~ht to assert in the foreclosure proceeding the nonexistence of a default or any~ other defense of Borrow~er to acce{eration and f~reclosure. If the breach is not cured on or hefore the date specified in the notice, Lender, at Lender's option. ma~~ declare all of the sums secured b~ this Mortgage ta be immediatel~~ due and pay~able w~ithout further demand and may foreclose this ;~1ortKa~e b~ judicial proceeciing. Lender shall t~e entided to collect in such proceeding af) e~penses of foreclosure, including, but not iimited to, reasonable attc~rne~~'s fees, court costs~ and costs of documentan er~idence, abstracts and tiNe reports. 1l3. Borrowrr's Ri~ht to Reinstate. Notwithstanding Lender's ac~;eleration of the sums secured b~~ this Mortgage due to &~rrower's breach, 6orro~ver shall ha~~e the right to ha~~e an~ pracc;edings begun by~ I.ender to enforce this 1lortgage ~iscontinuc~i at an~ time prior to entr~~ ol a judgment enforcing this Rtortgage if: ~a? Borrow~er pays Lender ali sums ~vhich ~ H~ould he then ~u~ un~ler this 1lortgage and the Note t~a~i no acceleratian a~eured; Ibl Borrou•er eures all s 6CG~~7~J fAGE16~.1, - - - ~~~s~.~ ~