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HomeMy WebLinkAbout0368~boK 25 P~~368 = s. That is the rant of a suit iei~ inrdtnad a fotedea eNa wttpgq the ldatga~sa chaff bs ~~ s apply at say rinse dun'n~ such ~ ireebaurc suit to tie court 6a ' juriadktioo thsraof far eM appoiatseat d • raodver of all and ~{ar the raortgaged ptopatV-. _ of all rents, incomes. prod issues ~ revenues tisnsf, feom wiataower antra dadvsd; std thereupon it la lardy Wreab oa+maoced and a~ tbt the court shall fort-with appoint anch riodrer with the uwal powers and dulls of retxivea in Ute cases: asd said poiatment shall be made by tM court r a taatta of tarter rift ea tM and without rtfa+oes a the adequsey o* i»de9'~7 of value of the properV -sceb of to the aoheaxy K ittaitraeel of oa w o~ patter t-at aura Mortg,taor hersb ap~~ymwdva ehs tl~t ee object a the appeismeat of • receiver as atorwaid~ ~7 a~y ~ done krithout appointment shah be made es m addetad sgaity sad es a salter sf absolute ridt b tie Matgagss notice to the Moeegagsr. ~. That if aqy proeeedinp a-ould bs iastitnted against tie psvperty covered by tits mortgage npoa other lien « claim whether superior or junior to the Uses of tits tie Mortgagee may at is option immadiateb spot imtitution °a sad snit or daria~ t-e pend- ency thereof declare this mortgage ofd the saeared braby clue sad p~able fsttiwith and may u is option Proceed to !creches this mortgage. 7. To pay all and si lu the costw fen, charges and ezpenaes of curry kind. Iacludiag the cos of an abatraa of title a saidrt~laan~dces found to be convenient or sent In soaaeetion with say snit for the foreebsaro of this mort~tEe~ at-d ~uww~~ ~lurc of the is obligated to acme m not. reasooabk attorae)'s fees iacwrred or e;pmded u any rims by the Mortgagor to pertoru4 ~P4 with and abide by all o-~aaqn~~ of the oovenana. oonditiom and sdpulatiom of said ptomitaory mt4 or this rn the [oraclaure of thb age and in collaetaag tht amount secured tetchy with or without legal ptoaedings, and to rdm- ra.rtgage, ' t~mads or locartsd for aqp slosh purpose with interest from date of svcp sash payment at the rate of bares tbs M ~ wary Pa7~ tad ~~~~ with interest thereon a aforesaid, shall -be seturcd by t-e jien hereof. fight per ceao~) per amain; snch Paymena i. To tccp the building or build'tnp now of hereafter oa said land insured agaimt loss or damage by fire. eztmded coverage and other ppecrriils in a sum act leas than thdr frail imurabls value at the cat and espeme of the Mortgagor in a comPao or eornpaaies approved by the 1Mortgagee, the P~c1 or policies to be Geld by the M sad such polity or policies of imurana shall save affized thereto a Staa• dard New York Mortgagee C[atist, making all loss or hoses er such policy or policies payable to otfe~orRg~agemm therefor; and inn the event and to deliver said policy or polid• .. to the Mo when issued with the reaipa for the paymen 1! any sum of money baomea payable under sne6 or polieia, tie INorfaagce shall 6avc the option to versus and apply the tame oa at~oount of the indebtedness secured bereb7 or to Permit the to reodve and we it, or say thereof, for other purpaea, without tLereb7 waivinngg or impairing any equity~~ordn~ ~~°R r virtue of this mortgage: sad the or~tgagee if it deems neceaa4 racy Pisa and Pay for. snch imuraace, or any part ailing or affecting Mo • opttoa to foreebse for breach cf tkia covenant, or any pare theroof, a as right or option under this mortgage, sad every sash payment all beu interest from dart thereof uodl paid at the rate of fight per tent (g~) r amp} and all such pgmeaCS wits Interest ar aforesaid shall be secured by the lien hereof. In the wen any loss o< damage is suffered l~lorrgagor shall notify Mortgagee of anti lea or damage within forty-fight (4t) 6oan after the iappeaing thereof; the failure to d.e such coda shall comtitute a default and the Mortgagee shall have the tight herein given for all dehnka. 9. To permit' commit or suffer ao waste and to maintain the Improvements u all times jn a state of good repair and oooditioo; and to do or permit to be done to said premises nothitg that will abet or change the use and character of said property or in any way impair or weaken the security of said mortgage. In case of the refusal, neglect or inability of the Mortgagor to repair and maintain said property, the Mortgsgee may, at is option. make such repdn or cause the Dame to be made rod advaoa monies an that behalf which aura shall be secured by the lien hereof sod tsar interest at the rate of fight per ant (f!6) per amain. 10. To deliver the abstract or :tartan of tick soveran~ the sot~troperty to Mortgagee or as designated agent; which shall at all times, during the Gfe of this mortgage, cemaan Io the passesston of the 11 and in went of the foreclosure of this mortgage or other trsmfer of title. all right, title and interest of the Mortgagor in and to any such abstract or abatraexs of title shall pass to the purchsaer or grantee. 11. That no waiver of m covenant icrdf or in the obligation secured 6eraby shall at any time hereafter be held so be a waivei of any of the other terms hereof or of tie torte secured hereby _ 12. That in order to abederate the mtenrity of tie iodebte ~nb<~y ; ~ it stall sot be necessary nor regnisirc~t~at the M mortgages aasesament. liability, obligsdon or eoenmbrana spot said property shall first pal the same. . IS. Thu if the Ma-tgttgsr mall fell, neglect of refuse for a period of dirty (SO) days fully sad promptly to Wt' the amouna re- quired to be paid by the note hereby assured or the interest ~coma~ wlti and abide eaely every or any of theMOO~veaaata, coadttaom cured, or otherwise duly, fu117 red P~P~_t° 1~. ' ~ sad is tither or in or stipulation of this mortgage, the PPromiss°r7y Dote y scented or the oonstnretion sn agreement, if aa7,. t6e4 if any, end any of such went; without fotia or demand, tie said ~ twin taeaBoaed h said promissory note. less prersotn payment, any and all snma mendooed -erdn a stxured baceby '°"' tannins drte sad prpable forehwit6 or thereafter at the aatinaing option of the Mortgagee a. fnlty end ae Pkttdy r if add seats ware oAgiodly atipnlaxed to be paid at sash time. anything is said pr~amiesop are or herein to the contrary notwitiatmdla~. ss° T~ ~1 be emitkd thereupon or thereafter without notke or demand to in- stitute suit at law or in egniq to effora the ~a of the Moetpgae hereunder or under said promissory note. In the event of any dcfaule or breech m the prat of the Mort~or 6ereunasr or ender said promissory note. the Mortgagee shall Gave the continuing opton to enforce payment of ap etas serrated hereby by notion at law or by adt in -. ratty to forecbse this mortgage, tither or both. eonearrently or otherwise, and one action or snit shall cot aba and aatbfaetlco of adadi~i 's right to inaitute or maintain the other, ptovided said Mort- gagee shall have ody one payment 14. 'Itiat h the weal fiat r stall (1) soonest to the eppointrwt of a receiver, trostee a iigadator«f~`rin wag is of Mottgago~s sssees~ or (_) be ad a bankrupt or imolveat, or file a voiuntary petition in baakraptcy part for the basefIt of creditors, or (4) ale :petition or amwer inability to pay ib deba es they bt~oome ue, of (S) ~~ • ~~ seeking reorganisation or arraageseat~v~ credit advantage of any imdvsasy htw, or (S) file m _ answear (`d)mt' ~ ~ ll be terlsl allegations of a petition t~ikledd the h aqy bankruptcy, reorgadsatisn or insolvency_ p ani6 taken by the Mortgagor for the pnrptre of effedini any of tie foregioiog, or (7) any orders jndgxot or decree all be sacred opoo an a placation of a creditor or by • court of ampts»ot nridietioa approving a petition seeking appointment of a reaaver or trustee of dl or a snbstantid pact of t~a asses and sne6 order judgment or decree shall ooodnne matayed and in dfext for any period of ~iterat oooseettdvs days, tie Mortgagee racy declare the note ~y scented forthwlt6 fine and W~ wherenpoo the ocipal of and ~ ooertteii m tie note and all other sumac ~~ ~ f~whi due and payable a if all of tke ~d au w were oridnall aBpnlated to be paid on oracle day: the without notks or demand may proaxute io equity as if dl mantes aaeared ieeeby lad taatnrod Prier !o is leteitrrtioa IS. T-at the l+fortgagse a< say person anthstised b ~ Yoetg>~ mall Gave the rider to enter apoa sad inspect the taaegaged premises ct all reaaaabk times 16. Thu any amt or satin whki may be based or advtnod by the Mortgagee to the Mortgagor at any time within ten (10) years from the clan of this iadentarq together wI~ interest tberooo at the rate agreed upon at the time of sash ban or advance, shall be equally se- cured wits and hays the arras priority M tie original Indebbcdness sad be sub'ect to all the resin and proviriom of Chia mortgage: Provrdcd, that the aggregate smouat of prineipd otrbtaading st any time shall not ez~ m amount equal to one nndred sad fifty per cent (1S0%) of the principal amomt oridulb secured hereby. ly. That; if required M Mortgagee. eie said Mortgagor will pay mro the Mortgagee. en the first day of each and eery oooasc ,tea month, a arm equal to aas-twclft6 of tie aonnal amount necessary to Pay all taza and awessmeaa spinet ~ fan lien rr s year sad if mwtt6ly sum is be estimated and eaknlated on tie amount of taus asseaaed against acid tM P~ of talons and rawrmeaa. further required by Mortgages to Ply dl Insurafa premiwm h manner sad fors a ps~o+idsd~ . it That se the went tie ban which tits ~tgage it dues 10 scents ht ands for the arpose sE flaandfg either tbt ootattrsdioe of new brdldiop sr the comtrnetioa of imProv tatasata and/er additions is ea3atirtti boildiags, tMp lsoetgagor. if d Eby the Moprrtga~gee. cspterb egress to deposit with the Mortgages a is de~d~ tea fn ~ she add dcoastrnetioai is aoaedaaa wide the plain of the bu and the total aaroaat. a. dsarsiaed by ~ and 1N~M ~ Said amaamt of asoaq siaU bs placed by tie and spedficaRaooa iaeeofess anbotiasd by ~ >~g~ MortgagR b a °loaea h iPeooess Acootma" h the arse of tbs gar, and the same ohaU be oaed h the Mortgagee ~> ~ the erg charges and e:peaaes iaeurrsd to ooaoKtim wits add aaaftastistai pebr ee ~~ this bin It is fnrtber agreed said oomtrsedoe is set fnlly asphxsd of or bafoes tie tiara atatad in tie Iona x in the e-at tkat ebe work on said ooristrtrcdof aht8 txaae bs[ero fall eosp{~iea std sae- oeasadof shall oosttiatte for a period ' tea (10) da7st orb eosa~n ~ progrea aiaD sot bt ends i• staai aaatraedstb rhea tad is attl aodi evert Ile acid a am4 P~Paf sine promissory note, tad all lassies saeaeiad el-t>i bseose doe tad jgable fireetiwlei sr s the eptioa of odd i ~ be the event of aneh owttfof sE werk aw eaererrtaiart felt a Nrtoa of sea (10)~ drys, er if sv6etaadal att~eiaoer~ ~'~~ said as ,made in such oofatrnetiM4 M afarsatfd. tM ttteP st its a/dta saran hen sad ipost tie Pr+~s atruedsa h anck a>aa~oer to it darns adviatbie w~ ~ free tk Mostgyer: ribs sdltpgre' Mr's! d~K ~ wag a the Mortgages tltli Pawsr ofd attthadty N treat oath aftcy Ya_aad topes triad ~~~ >• eaear hM. atnr atattftee K a~ rangeoaena r eq ba faosssary a tsrspieir aid oofseroedstti ttl ss ~ atKy tttsfiw tesdit6d "Low h Peoaw h additia ray scans sf taax+y wwary tr aspMee acid eattsteftdso; asd as7 tfd ail tactics sa3efdsd ty tM pal wits soei oosphttba sE osfatraelisf i• sf~owe~ ~ ~ ofd aidl hhi taea~ai yttewl~Mbtibttttri a`agaM W b Ile 1Mtiagar stall draw itttasstt tt tie tree provided w demand.