Sample Mortgage Form
11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising
any right or remedy hereunder, or otherwise affo rded by applicable law. shall not be a
waiver of or preclude the exercise of any such right or remedy. The procurement of
insurance or the pa yme n t of taxes or other liens or charges by Len der s ha l l no t be a
waiver of Lender's right to accelerate the matu rity of th e indeb tedness s ecured by t h is
Mortgage.
12. Remedies Cumulative. All rem edies pro v ided in this Mort gage are distinct a n d
cumula ti ve t o an y ot her r ig ht or
remed y un der this Mortgage o r affo rded by law or equi t y. and m ay he exercised
concurrently, independently or successively.
13. Successors and Assigns Bound; Joint and Several Liability; Captions. The
covena nts and ag reements herei n c o ntai ned shall bind, and the righ ts her eunder shal l
inure to, the respective successors and assigns of Lender and Borrower. subject to the
provis i on s of parag r ap h l7 hereof. All covenants an d a greements of Borrower shall be
joint and several. The captions and headings of the paragraphs of this Mortgage are for
convenie nce only and are not to be used to interpret or define the provisi o ns hereof.
14. Notice. Except for an y notice required unde r appl icable law t o be given in an ot her
manner, (a) any notice t o B orr ower prov i ded for in this Mort gage shall be given b y
mailing such notice by certified mail addressed to Borrower at the Property Address or at
such other address as Bo rrow e r may designa te b y notice t o Le nder as provided herein,
and (b) any notice to Lender shall be given by certifie d mail, return receipt requested, to
Lender's address stated herein or to such other address as Lender may designate by notice
to Borrow er as pr ovided herein. A n y not ice p ro vide d for in th is Mortgage shall be
deemed to have b een gi v en t o Borr ow er or Le nder when given i n the man ner desi g nated
herein.
15. Uniform Mortgage; Governing Law; Severability. This form of mortgage
combine s un iform cove n a nts f or nat i onal use and non-uniform covenants with limited
variations by jurisdiction to constitute a uniform security instrument covering real
property. This Mortgage shall be governed by the law of the jurisdiction in which the
Property is located. In the event that any provision or clause of this Mortgage or the Note
conflicts with applicable law. such conflict shall not aff ect ot her provisions of this
Mortgage or the Note whic h can be give n ef f ect w ithout the co nfl ict i ng provisi on. and to
this end the provisions of the Mortgage and the Note are declared to be severable.
16. Borrower's Copy. Borr ow er shall be furnished a co nfo rmed c o p y of the N ote and
of this Mortgage at the time of execution or after recordation hereof.
17. Transfer of the Property; Assumption. If all or any part of the Property or an
interest therein is sold or transferred by Borrowe r witho ut Lender's pr ior w ritt en cons ent,
excluding (a) the creation of a lien or encumbrance subordinate to this Mortgage, (b) the
creation of a purchase mone y security interest for household appliances, (c) a transfer by
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