Sample Mortgage Form
reasonable attorney's fees and costs of title evidence; (b) to all sums secured by this
Mortgage; and (c) the excess, if an y, to the pers o n or pers o ns le gal ly entitle d theret o.
19. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums
secure d by this Mort gage, Borrower sha ll h ave the right to have any pr oceedin gs be gun
by Lender to enforce this Mortgage discontinued at any ti me prior to the earlier to occur
of (i) the fifth day befor e sale of the Propert y purs uan t to the power of sale con tained in
this Mort gage or (ii) entry of a judgm ent e nf orci n g th is Mo rtgage if: (a) Borrow er pays
Lender al l sum s wh ich would be then d ue un d er this Mortgage, t he N ote and notes
securing Future Advances, if any, had no acceleration occurred; (b) Borrower cures all
breaches of an y ot her co venants or agreements of Borrower cont ained in this Mort gag e ;
(c) Borrower pays all reasonable expenses incurred by Lender in enforcing the covenants
and agreem ents of Borrow e r conta i n e d i n this M ort gage and in enforci ng L e nde r's
remed ies as provide d in paragra p h 18 hereof, includin g, but n ot limited to, reasonab le
attorney 's fees; and (d ) Borrower takes such action as Lender may reasonably require to
assure that the lien of this Mortgage, Lender's interest in the Property and Borrower's
obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upon
such payment and cure by Borrower, this Mortgage and the obligations secured hereby
shall remain in full force and effect as if no acceleration had occurred.
20. Assignment of Rents; Lender in Possession. As additional secu rity hereunder,
Borrower hereby assigns to Lender the rents of the Property, provided that Borrower
shall, pr i or to acceleration under paragraph 18 hereof or aba n do nment of the Property,
have the right to co llect and retai n such re nts as the y become due and payab le.
Upon acceleration under paragraph 18 hereof or abandonment of the Property, Lender
shall be ent it led to enter upon, take p oss ession of and manage the Proper ty and to collec t
the rents of the Property including those past due. All rents collected by Lender shall be
applied f i rs t to paymen t of the cos ts of management of the Property and collec ti on of
rents , i ncl ud in g, bu t not limited to, reasonable attor ney's fees, and then to th e sum s
secure d by this Mort gage. Lend er sh all be liable to account o nl y f or t h ose rents actually
received.
21. Future Advances. For the pur pose s permitte d b y applicab le law and upon request
of Borrower, Lender, at Lender's option prio r t o release of this Mortga ge, may make
Future Advances to Borrower. Such Future Advances, with interest thereon, shall be
secure d by this Mort gage when evidence d b y promissor y no tes st at i ng th at said notes are
secure d h e re by. At no tim e sha ll t he princi pal amount of the i ndebtedness secure d b y thi s
Mortgage, not i ncluding sums advanced i n accor dance herewith to protect the securi ty of
this Mortgage, ex ceed the origi nal a mount of the N ote plus US
$.................................................................................................
22. Release. Upon payment of all sums secured by this Mortgage, Lender shall
discharge this Mortga ge w ith out cost to Borrower. Borrowe r sha ll pay all costs of
recordation, if an y.
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