HomeMy WebLinkAbout1661
~b~i'
7
2'11
ST. lUCI( COUNTY n 1 .
TOGETHER WITH rJl and ainl"lar the te:lementa, bent<ii~(.ta &n:i ~ ~ beIooifaI or in uywile
Ih~rellnt() apr-ert;uning and the re~U, issues and profita thereof, and abo aU the esta~, ritht, title, int'".rett and ill clai.m aDd
d~m1Ild wh..lIoc:ver, u well in Inl u in eqwty, of the Mid Nortg~r ill and to the tame, L'1dudir-C but DOt limited to:
(a) All renta, profitt, revrnu~s, royalties, risbta and ~fita deriw-d from (1) cropa rrown OD nid eecurity and prcduce
of th~ soil otherwise (2) oil, s..s or mineral Ie.ue. of the premilel or any part thereof, IIQW uistin. or hereinafter made, and
(3) a\l oth~r renta, iuuel and profits of the .,remises from time to Ii me IIccruinll. whether under ieases or tenancies BOW exitti~
or hereafter cr~ated; in each such COlle with th~ nsht in the Nortlfll~e, but only at its option, to rettive and recei~ therefor
and to apply th~ same as it may el~t to any indebtedness leCureO hereby, and the Mortpsee, at ita optioll, may dem&nd, '\Ie for
..nd r~co\er any sllch paymt'n!s, reser....ing to the Mort~agor, howC'\'~r. 10 k>n~ u lAid MortlfaS'Or iJ not iD default !sc"unde.-, the
right 10 r..c~i,'~ and r~tain such renta, iuuel and profits,
(b) All jlld~m~n", awards of dam&<<," Ll'ld aelllementa h~rufter made aJ a result of or in lieu of any takin. of the
pre mist's or any put Ih~r~of under Ihe power of ~inenl domain, or for any damalfe (w~th~r cau~ 1Y1sUCftu.kins or otherwise)
to Ih~ premi.es or th~ improvements the~t'on or any part Ihereof; such part of any such judgment, award or aeulement. as the
Morlll;all;ee m.\y ~Ien to be applied to th~ indt'blNneu hereby aecured and the balance thereof, if any. to be reserved to the
puty or parti~s olherwi\t' entitlt'd th~reto.
TO HAVE AND TO HOLD the above granted and deKribed_ premi<es to tlte L~id Mort!\,agee. its sucttUOn ant;! uaisns,
for~\'~r, alII .1.8 ....ill )'fv.I~A~d. d.U.1 h_r.(.k} Edll, n~'."1I1 tIn.. l:tl, l..... _.:..1 1.1.<1. u:.d ......al d,-C.....d: iln.. ....u~ ae-~I_t 11.... 1......,fal
lIai_ sf 11'1 I~'~'" _I,v,u~~r: provided always that if Morti{a~r shall P"y to ~{ortlp!{ee that certain promiuory note above
descri~ocl and sh~lI perform all other cov~nants and condition;; of said promissory nct=, and of any renewal, ;xtens1on or modi.
ficatiun th~rt'of. and of Ihis morlga~t'. th~n this mortgage and Ihe estate hertby cre'tt'cl shall ('('"ce and ~ null and void.
MOrl!l'agor furlht'r covl'n~nU and a,rr~s with Mortgagee as follows:
1. To pay all sums inclueling intt'rt'st se,urc.d her~by when dut', as provided for in salc. promiuory note and any renewal,
~xt~ncion or modificalion Ihl'reof anel in this mOrlltage, all such Sl.!l1S to be payable in lawful mon~y of the~ United ~tatt's of
....merica at ~{ort~~<:t't"s afor~uid principal offic~, or at luch other place as MortgaSel! may deti~ate in writinl.
2, To p3Y when dut'. and without rt'quirin!\, any notice from Mort<:~p;t't', all laxt'.. a\.,(,um<'nll of any type or nature
and olht'r rhar<;es I~vit'd or a,,~,'s~d a<(ainst th~ premises her~by encumbt'red ~[ any intt'rcst of M.~rtgage therein. To i""medi-
ately pay and di,char<;t' any claim, Ii~n or ~ncumbrance ag..inlt such prt'mi...s which may be or become superior to this mort- .
\-1l;agt' and to permil no default or deli!lquencf on any other lien, encumbrance or charl(~ against such premisel, " --
, ;.'
I 3 If rl'quir('cl by MOrlltalt~t'. to al'.O malt~ monthly dep:>sits wilh Mortll;agl'C, in a non-inter~st bearing account, t~t'ther
, with and in ~ddition to intert'\1 apd principal, of a lum ~qual to one-twelfth of th~ yeady tax~s and aueumenU which may be
It'vied all;~;n'l Ihe pre mist's, and (if Ie r~quired) one.twt'lfth of th~ Yl'arl)' pr~miums for in.mance th~rt'On. The amount of such
taXt's, a"t',,,,,cnls <!nd prt'miums, whrn unknown, shall be estimal..d by MOrlltall;ee. Such d~po1iu shall be used by Mortgagee
to pay luch ta"es, a"elOmrll'S a:'ld pc..miums when due. Any insuffici~nry of mch account to pay such charges when due shaD
be paid by Mortval(or to Mort<:av.et' on demand, If, by r~ason of any d~fault by Mortgagor under any provision of this mort-
~a<;t', Mortgage~ dt'c1art's all 'urns lecurl'd hereby to be due and p~:..ahle, Mort<("g~ may th~n apply any fundi in pid account
~l(aimt Ihe t'ntir~ inelrbtt'clnr" '('cUlrd hereby. The l'nforcl'ability of th~ covt'nants relatinl\' to tau., as~m~' ts and inlurance
prt'mium. hert';n otherwi,~ provic1t'd ,haa not ~ afft'ctt'd ~xC~pl in so hr as those obligations have bt-en m~t by compliance with
Ihi, paragraph. Morl<(a~t't' may irom lim~ to lime at its option waive, and after any such waiver I't'in'tat~, any or all prevWlJIU
h~rt'of rt''luiring such dt'posils, by notice to MOrllpgor in writin,;. While any such waiv~r is in eff~ct Mortgagor shall pay taxes,
"S<l'''m~nlS and imurancl' premiums as herein ~Is~wht're provided,
4. To pay all taxes, stamp tax or other char!\,~ ",hich m'y be assessed upon thil mortlta,;e. or laid note, or indebtedness
secured hl'rrh,'. witho,.t ll'<'''cl to any law, l"~dt'ral or St.lI~, "ert'tofore or hereafter t'nactt'd, imposing payment of all or any
part Ih~lt'd upon M"rl<>:,l~t't', In ~...t'nt of ('naclmt'nt of any law imposin~ pa)'m~nt of all or any portion of any such tax~s upon
Mor I <:,1I(r.. , or Ihr rt'ndrring Lv anv rourl of last r~"'rI of a dt'rision that th~ undertaltinll! by Mort!{agor, as herein provided, to
pay such lax or la"es is Il'l(:\lI)' inoperative, th~n, unll'SI Mortg.l~or n~.:{"rtht'\ess pays such taxes, all sums hereby secured, without
any drdurt;on, shall al Iht' oplion of Mortgagt'e become immediately due and payabl~, notwithstanding anything contained herein
or an)' bw hrrrtofort' or hrr.."ftrr ~naCled.
,
I
5 To kt't'p th.. prt'mis..s in<ur~d against Iou or damase by !ire, windstorm or ext~nded COHrage and luch oth~r hazardl as
mw \)(' r~'luirt'(1 by \{orl~ag~e, in form and -.mounts satisfactory to, and in insuranc~ companit's approved by Mortsagee, and with
au-eptabl!' mortll.ll1;rt' I"" payable cbuses :!Ilached. Such policies, togt'lher ,-ith sur:' abstracts an:! other title evidence aJ may
be rrquirrcl hy Mortg,l<:~~, sh,,1I be delivt'r~d to 2nd h~ld by Mort~agee wilhout liability, l.'pon foreclcsure of this mortgage or
oth~r ;" quisition of th~ prl'mises or any part th~reof by Mort!o(agee, u.id policies, abJtracll and title evidenct' shall become the
ahsolutl' prop<"TIV of Morl'pllt'e,
/j To firsl obtain th~ wrilll'n consent of Mortgagee, such consent to be grantl'd or withht'ld :It the sole discretion of !Uc9
MOrlgagt'~, I""for~ (a' rl'moving or dt'molishing any building now or hert'after er,.n..d on th~ prt'mises. (b) alt~ring the arrJ~'
m~nl, dr.ign or struClural charact,.r Iht'reof. (c) malting any repair< which im'olve the removal of structural parts ~r the
t'Xpo'lIl~ of Iht' inlerior of such buildinl\' to the t'\em~nl', or (d) cxcept for domt'slir purpoS(,I, culling or r~mo,'ing or permitting
thl' rllllin~ and rrmoval of any fret's or timber on the prt'miV-'.,
7. To maintain prt'lTli\t's in 1l00d conclition and repair, includinll; bul not limit~d to th~ maltinl1; of such repairs ;u Mortgagee
may fru:n tlflll' '0 lim~ drtl'r",ine to be nereuary for Ih~ preservation of Ih~ prt'mises and to not commit nor permit any wast~ thereof.
e To comf'!v with all \.1ws, ord''',''1rt's, rt'l1;ulations. cov~nants. conditions and rrstrictions ~ff~cting ,:'e premises, and not
10 suffrr or f""rmil any ,iol.llion thereof
f) If Mort<;.\l1;or f..ils to pa\' .my claim, lit'n or t'ncumbranre which is !llperior to this mortp:al1;e, co:, when due, any tax or
,u<t's<m..nl or in""anc.. prrmi ,m, or 10 It~t'p th~ pr~mises in repair, or shaH commit or permit waste, or if there be commenced
any art ion or pro('t'~dillg ,.fI.,..ting tht' prl'mi..-s or Ihe titlt' thereto, th~n Mortl\'a~. at ils option, may pay said claim. lien. ~nrum.
"r.,nr~, t,1)(, ""t'"mrnt or prrmi"m. with ri.-:hl of ,,,"ro<(;\lion th~~under, may makt' sllch repairs and take luch steps .u it dt'enu
,uh'is~"I.. In i"t'vrnl or (ure ,,,rh wastr, and m:lY appeu in any such action or prCJCrNlinl\' and relain counsel therein, and take
,ur h action Ih..rrin as Morl<(a<(rl' drt'ms advisahl~, and for ar-y of laid purposes M0rtgagee ma~ advance such IUnu of moner.
inrluding all ..".", il'(,' aorl olhrr ilt'n" of ~Xp""," a.l it d~l1U n=cessary, MOrllPII!~e shall be Ihe sole judge of the legality,
,..,lirJitv ~n" priorilY oi am' s\H.h claim, li..n. enrumbrance, tax. aut'lS.nent ...nd premium, :>nd ?f th~ amount necessary to be paid
in uli,fartion Iht'reof. MOrl~"ltt'e shall not be h~ld accountabl~ for Jny delay i!l malting any such paymrnt,- which delay may
rrnolt in any addilioClal intrr~st. coct. ch,uKes or expen~ otherwise, .....
1U, Mortgagor wlll pay to Mortgagee, immediately and without demand, all sum:,;
of money advanced by Mor.tgagee pursuant to this mortgage, together with interest
on each such advanc('mcpt at the rate of 6!% per annum, and all such sums and
interest thereon shall be secured hereby If made by Mortgagee for the account of
Mortgagor because of Mortgagor's default.
1 J, All sums or money secured hereby shall be payable without any relief
whatever from any valuation or appraisement laws.