HomeMy WebLinkAbout0166~~~
=-
G~~' 1,? r~t1~
a . ~ ~ ~ i•AI'.~ - .
R.n(t lii_3Ut ~:iCC jirNllTilitna, R_tl ttl f' Cage nlA)' l)e, RU: l1 t'XC(')Sii Rhuli ik Crt'{iit(Nii 1))' t}li' lkk>>I tt; rip; +'t' t~ri ~lii+~~~~kit`i?t
j>~kyn~~utn t~~ t>~ tiTa(:t3 by tlkk: irortgagur. !f, huaever, the nwkktikiy j3x}•nkrnts l:iR+tt• i,> tht• n,ekrtit~i}(t?;
under (b} trf t3aralgraph ?. pr~+:iling shall riot ire r"!lfficiant tv j:w~Y ground rentR, tx~e5 k<nd an:.t°ssm~nt~
anti ii1$IlYAIli~ ~?2'~lilllltYlb"~ as tilE Cl6liti IT:L'ay t>E, Whf•11 t}!P 88IkTE ahxll t>'%~Ct'i:iF dikt' 81!t7 jiR:At+it~, t}kt'r: (;:+
t~kvrtgl~gor sheik t•ay to Lt1a} IiYOrtgAgr:~ Any amount ner~~snar"~• ka Inak~• up the dehcielkr;, t+lk t,r Itt~ft~rt' tl:,
~i:~te when }~-aynTt'xit of suct- ground i~nte, ti~xi-e, a~ase~sanTentli, or intiuraTnce prrni}ulna shall k>t• ~+u~ !i
at Any' ti_tiY9.tiis p!"iC=rtf~€3~vr shall tt?lTtler to tike iTlvrtgagt~ in acc;~rtiarkc~ with th(~ prc?~•isiun5 :?f tl~{ ti ,!.
aseur(~.~i ilel'eby', ft2H ~+ag'nient OY LL-~ e_Titi~'e iilti:'htiYlne~ retTPl~EnLed th(+T"eb}', the nTJrt~ugeN s}t;(lI, :n ;~~n,
puting the atTrcunt of a>leti in(lebts(inc~. credit to Gle accaunt o' th}- rnartga~or Ali pa}•nlents nkati:~ un~i~ !
the j?;-ovisionn ai (is) of psi°a~rk~Y+}e ? hsi•e~i ~vi,iePk the nlol-tga~gte h~ not ~t•unl~ obllgRtt'ti tt~ ~?a+~ t:' tit,
F'ednral ;`louatng C•amlTiiaaionex slid ally b.slk~nce r(jiTTailkitk in t e fundr accumulated under t},. F+rt+~ l;t,,!;~
of (b) of? e~kid t?al•agYAph 2. If t1kHt'c siistli 'tae a default un er ar.}" of tike proviaiolTS of thl.~ nkt>rth,k~;'. , r~'-
s~alting in a pui)lic s~ie of the premis(~ rovere(i hereby, or if tine mok-tgagee Rct;uirt'n the i+ruj++~r!~ ~~ti:.•,
wisit? after default, tlTe mortg~;(~e shall t~jYply, At the finis of the coknmeikcc•nTent of such prex•t :•'1;!ik~ „r xt
t
the tiles the pi"o)~~erty ii~ otherwise ~yuir~i, the ballukre then rerTt:i!Tinq in tht~ .*unds ACClkikkUiik[t'tl uit.±~'i
(h) of para~rap `L prFx~etiin a!i a crt^<iit Agairkst tik£ uTTaunt of -3rincijlal therk remakikk!kg un;?.kit; ui:.i?'r
a_~id note att(t t~tiall p€op~:ly a~just any j)aynTents which ahail have ~>r'eti lTlede ?-)ndt:r tai k?f sxi;i j?r.r.:Kt :k4'}:.
4. 7~tlat he xill pa„v ali t~xea, Ag.;3~$321T(',ilt$, water rags. And other gvverikr.ients! ter m(Tnicil?xi tt?ari;,.,
fllkee, or impositions, for which j)rovision lkas not t>(-en mxd(' hereint>efore, r;ilci In ~tt'tyuit tltt,k t-k,; t'~, in~'r(
gagr'~e n;eti~ p.9y the aa~rk~e; and that he grill prompts} delivel° t}TC ofiicikll r(~eipis t>lk'refur to tt;. (!."r?;..,k,;,~,
~, ThRt lYe ~alll j)QriT)1t, l;rii~tlrlilt, (+r BURCY' ILO t'. AKiE', llTTpkllCiili'ikt, Or ti t'teClOrkttl!)ik t?+~ 5kk!d j?r,ij,c"' ~
$li~ psI°t therF~r,1~; and 21T thU went of tike failure of the nlortKRgvr to hee}~ tht' ?,uildlikgk i+;, Rkk,,•~ {+r~ !!::~~
Rliti tht)s(l t0 be ~I'EtiL('d Oil dE'lti preP.12k4C'~, C?r 1rI1pYOt'viTTPntfl th('rt•On, its utx,d re~)kt!r, the ITlt?rtkk+}'~ ? t`t:i',
mails dur_h rejTi`,irk~ s.8 in i'.,s di$cretiotT it rosy deerrY ikPCe~sr}• for t}ke jiri'.j?ei' pregc'r~'titli,tl ttk,`Ci`!~i. tt'ttj (}:,
full >?_iTTOUnt of en~h and avery° such payrTTe.^.t sik.ili t,c in3nT(~tiidtel} due and f+:k~•at)ie, And s't.kkit t.< s~ ~ t.!rt•~':
bs• the hell c+f this niort~ag~.
R. That ~ ~: iii pay- alt end kkingT.ili;r tale cctAtR, chrirges, And e~i;etkaPa, i!:~iutiint; rt ast+i,si~, :;k [t . ••? .:
ffti-iR, BIT Ca8t~3 of ahatractb Of tltj(',, 1nrUrreil OY paled 8t An} ikRtr` }_~ lift' 11k+!itk;A~'t'c' l;tlck ~vt' f~f tit,. F, t,.
+r. the j~,rt t=f tits niort~aytur t)rompt!}° skki3 tali}' tc, j>~rfi,rnT tht' s~rt'i•k~krr;ta :;nci ~tnt t +l t~ <~f ~<:;:1 I T
itts()ry nc:tr~ and t.}:i;3 mortgage, anti slid c~~te, ci:Ierges, ar>d cxj>eilses nhzkii i?~' ink!ne;liatei~ du,' Aittl ;,a'.
Ai)le gild €lall'.ti lx enured by tike iien of ti-kis nlort$$ge.
7. 'I`<<5t he w ill kip the ir~kprevem(~nia now {•xlstlrs~ or hark~after erg e±t•d t+t: the nk?~rtus~<;; Eirct;?t~r+,,
IilaUred &1i n1R}' Fh re~Ulretl frOrTl tliTle t0 tiiTT(' by th? rilOrt~BE;i'F x(~AII3at IU34 }?~' }1I'e Nnti utlkt r }i'i: 2k! ~t'-.
C~.g[lRltl~, slid t'. C'ntlli,~QnCi08 lrl SUCi"i kI7TOUIliF and fc+r 8UC ;)ei'iuds kl~ ma}' }x, rt~~Ukrt'd }~ nTt~rtF;Fk}''~•t'.
8.*Td Wlli px} Framptly, v'hPn dU~, Fitly` pYelt:lkli'tiE'?!? BUIh ti:nlirk3nCP ii)r pS;rtla'Ikt Of ~.'lktC}! l)rC,~'!ti;t~i~ }.:t;
lkoi t>~~n Ztia(ia i;arsinl.>t;forc. ,x111 inaur~nce s1kd11 li(' carried in c~;ITkj3nSTIeA :tpl>rt?~~'cl t?y nTOrtk:t~;t',' ;.r:ci
tike policies and renewAl_s theret)f sh~il i;e Reid l,y inortgxg~ a;ui lave k,ttxc•i:e~ lhcrett, it,st E~x~,~kt~i,
clA[its(~ in favor of and in form at:ceptxtklr_- t~> the mortgsgE~.~ 1R e.eiTt Ole less Rt• :~~tl! ~•!ve in: r, :,;itt:tt•
nCit1CC (,)~ rIl$Il t{) RTOrtgd~t'e, Rr.d i:lortgtsgre nkk11' n:fiKP jirt)Of O~ It);ss i! nOl i;kR~!t (+r(?nk()ti6' t)) mttr'tK.skc~;'.
€+(1(i t;fiC 1Tk8UriI1CL' COn1pIII1}' COnCCrilEfi i9 ht?rt'~%}' RiStl'lOri7.P,U Rnd tllr£CtC'ti ttl !1?RIiE' j+R~'n1Cnt fv' SUi}':
iJSa d1rL?Ctl}' tt} LIl>7rtQSt~(f'E' kp$IeRd Of t0 mOrt$Al~'Or aIld ^IOrtKk1~E'e JOIITtI}', R!kti ti?<' ii!8[!rikRC+ j+rtc','';i.~, (,!
dR1" }})AI'`~ tlktreof. rimy 1~ aj)p?ie-ci by rrkortg~l~ee dt its oj3`•.ien either t., the rt'~l!trt!o!; ~,f tht• ii;ci• i;••,ir:t~::~.
ikereb}' &~tlred or to the r~toratiar. (?r r('jialr of the pr{YT~erty damRged. in t':'{•ilt of fc~r?,c~c,sUt',• +,{ t!:
a: 1
mor'tgag?~ ar other transfer of ttt•e to th+~ r.YOrtQRg2{! projx:rty In extiiT~uishrnt'nt <>f ±t;t• ;nti?'t?t•'+i!:' ~<.
aCCUCCd h('rt?by, 8lj rk~Rt, tltlt, and 1nt-('I'P.6: Of tlkC' RiUi'4y&~'-?r !n RI?CI tU Fiil}" iit:?[Ii'A(iCt GK?it~ ie~s (t:t'ti ii: ~~trt ,
shi<li p~aa to the ptlrchas(=r or g~'ant~.
. T• k Fr ;.p})lp to
~. T'hat the mckrtgst;~ ;Ray. at any tin,~• jiending a Butt ujN1n tlkia I tort `R t:, the sous-, !:a~ -
t +urtt:~~ ltl; kk(?~tr::!lt a
ing juriadi_tion t`~tert~f for the Rp~K3intm,ent of R r(~eiver, r+rt+t such court ahdl
r(?Ct;i~'C?r Of the pI`eIYki&i~ COv£~Ci'd h''2"t'~y" ali Rtkti 51It~Uli1:', InCiUtiil'~j{ All 8iT(i BIn~Ui!kr tl?t' Ii1CVITlt', i)ri?':;~,
issues, BITd revenuan frcn~ w•hates•er et~urc(; derived e~ich ar:d ever' of which, it in'irtg t•:<prt~ssl~• un~i>..
etoa(i, is ilQreby r,Tai-tgageci as if gjx~t~ifleAliy set forth Anti deserih(.d i:; th(• grATktil:g arkri 'r;athncium ciavet•
lkerecf, xrld such r€~elver shall ha6•e all t`rte bread ant, Pt~ective functions and jx?w'e~rs tll and. ~ t,+
entnknted by a cc3urt to A receiver, and rush apt~~intrRertt s`YRii ire made t)} sut•h ci?~rtri'! z:(. a:1:n•,t:,-;i
(~uity and t~ matter of ab~a~l?_kte right to said mortgaitee, arkd '~"itht;ut reference t{> t}le ade+auR<<~ t,r tr.a~i~
•~uac}' of tilt: v~iue of the proj>'?rty n~c~rtgageti or to the 8olvenc}' or in5t??v=~nc} of szTid nYOrtukk~t,r c?r tr.+•
dc'fellcki3ts, and !.hat such rents, profits, il:cot•.ir, iasuen, anti revenues ahRll l)e ap{?had b}' such rt<«.!',t !
accoriirk to tl'1.- lien cf thin mortgage Rtui t?le j3ractice of each e!_?rt. li. th(' evrilt of Rny rir•Ir,u1t ttn t't,~
pArt of t~e rnurtgsgor i:ereuikcier, the n:ortgas~or Fsgrc.P4 to pA}' tr? the rnort~agt~ rn demRi.ci :=s a re'a9f~!,-
iy()ie monthly rental ft:r tits preIi]!s(:a xi: iIrTTOiint At ietknt ('*~lell'alrlit t0 unE'-tu'E'lltil (i;k;) Of tRi' ftKFtk't•~<kt.
of the twei'Ye rrtoi:t?kl}' :ristallmen?~ j,akable in t}?e they, cun•ent yek:r plus ll:e actuxi rimo?lilt of 'hr annu~kl
t8":'F8~ aS.B£837R8nt8, V.'Attr rL3tt A, and lli3iiYant:C pI't?miLkI11$ fOr BUCI: ypRY nUt CO~'Cr('ti :)~' ttie: Rf{)rt`:*F+t(1
II2C.:t~tly j>~y~n,~?~t~,
:). 'i'Re nTOrtgag'~l fi!rtilei' CU~'Pild(lt$ tRat ^l:Okli(i tl;IS niVl'l~,:ki{t slid flit' :i(rle- j"1 ;...'t. ;i"1"t•i'1 lift''.
!'llgiUle f(%r llldilraliCf• Ui:dC!r file :~at1UI1Fs! i1C,Utilri~ :~Ct YtiitiTiij rt:'Rl flit' iiHCe' }i.•7t:;'
f !t'I"(t~'n stEzteitlcnt Jf Flii}' tkf~lCfr Of t)'i( F•';,Yierai ilr)usin~ :~tlikiirli4ti'At1+17> >?i Y.Ut}l(,r1Z{'fi ik}{~'l:t !,f (!:'
i'F~:ierr,l Flousiikg Corny!i~_sior;er dz~t~d s~!:~~e.~riui'kTt t~~ the tln:(_ frc)ti"t th(• (lAt~~ ~): tt::~
iTtt)rt~jt~t', cjeclinirib t4 Iii:Slire 8.fitd itUte 8iI?j this iT:Ort~F3F~f', l}t=!tl~ tl.i[it Ca Cr:itCi[15;Y'~ ()rc>:~f t)f ~ttt', „
t_'!!~'tblllt}'), tl'iC' Ile?C7rt~T€tj~,Eti- Or tilt. lTUldcr O~ tRe liOt(' tl1R}, AC 1C5 ui tYilt ~i?'t.1ki!t AllsURi3 RtCt}T('t+ l !t l~.
i;nrnF:diately due az:d payatife,
i0. ~}let {t.) iiT the e~'f'lkt U~ kith' [)i'('FiCh OE this ?llt,rtj,T{s~t' Or titfAUi`l on lift' ngrf r,i th+ !(TOI'l~'ki}{+'rt, t,,
~,) ir. the event that Rn}" of said auri;a at money herein r~fierr_a to lx' i)t)t prt.?nlt)t!}' €,n:i full}• l+al<i •,~ .t±,
t)llt Cl~iS2Etnd t)Y IlOtlC'E, UY ~t) Isl t-,11(' E:'Eklt t,tl€it @AC11 C~IICI t`~'C'I'}' tht BikpUlRtit)lt8. Rj;rE'(?rT?f'i1ta~ Cfii;tt;tint:~
;.nd ctf~.•elTalkts of st-id riUtr and this rrkyrt.gr(ge, are nr~t (itiiy, plvnTptly, ant fuliy j;rrft+rmed: th:~ii :r.
sill?fY UI' Rily i°.SCR eVtnt, L}le 8xid a g€i~Btk tSU4Ti rRt'ntiUkle1l In siilti ilOte tikeii i"eRTAlnli'kK tlnj=sift, :tttt.
1Rtf!rt:3tt aCt:iU~'ti p.9 t~k&t t?Cf1A, btIY+~ H i;kt?nE;f'~. ~E"'tlrt~ hi;S'F:bj', ~1113~1 t?e:COnlf' tiUi~ RTtCi l>~i}•Rble' fort-~~t!t};.
{)r thert:after, Rt the ui~tiou ,f said rrort~zzg€~, ~ fully ally compiete!}• ~ if tkli of the Aaid sunkri o` mt,n~ ,
were f;I ~irially lSkipuiat~~d to ~~ fir? .?^ such day, anytilillg ilk sa;i(1 rtotc or in this mortgngf' tr? the Cf,ilcri~l'}
nr)tt~it?rriantiiti~'; Ctli(i ~!i~i'Pkkpori JY' t~`t~:t'~f2~'I', a.t t7ie Oj}ttOt: Rf saltl 771i?rt~iigE'e, :~'ltl:Jiit k:OIICt' 0I' tl!'f:iRn~}
Bait AY l~wr rig in gutty. rtTay ba iii•L?~`.-T.~t~i as if all mcl,~y~ uretl tterel?y hR(l mx~t~luted print' u, :ts irksti,
t42t1CtI3. Th8 rl:t)i -~~~'i Ilf.~a,Y YC~i ~ iCa~ t~'s13 BTit)s``ig~ L+, ~ U3 the F?nlhii Ott x+_+ (IECiBrt'.ti ti'tlE Rnd Fit} ki)if , kLI.!;
tlTe pia yt;~i s3is1; ?~ r~1(~ La ~tiRf~s >~r1li j?ay ¢€ i?~:T:c tj~gc-thPr ;=itiT cngta, exj)En~s, and E!!,?~-sect s
Irt r~ (~f parties fcfr€~1:?~ure of tide Isi'Ji t~l~~e, tike ++•cr,: tgksg'c~t j)rersi~~s f?i:Al! t>E! seltt aubit~ct to utt c!, t,
tiiTuirtg Ii¢n cf this ~r+?i~a.~~ far i,~k~ 2f.rd`s=3kint of the cie;3t nrrt th+~i: (l lie and iilkfiFlid. In east? case lift E;r•.
viaic+x,a at tlli& isat:aph rc}.a:; ~~ati-L ~ availe(1 of tllereaftrr fro:il tir,ie t~) time bti• the mortKagt-~.
it. i~•l;at Lh~ rile-~~2~~~~;,i' c+•i1l give irnl:~c~tiatt3 Ilutic~ I)y inrli! t~ th(' rTkort~•s~f~(' of An}• c~:, ~ .;;I
tral:?Ift~r, Ur ehal~~€ ~ ck~risr~ig of the pi`t~rrii.
~~. ~lTl1.t IO ~~'i~rvf any (s,l~T_Arat 1^iL1:'EZIn ter ~f tll@ {il)li*{;:t10JT @ectkrFKi i:eit'i)}' :ti:+•'i itrt!:'~ f:=:'.:
th~r~t~ft€~r tlf3 he?; t~ 1~ a v.•aiver of the t~r-i~la l~i~l~f or o; tie r;c,i~ set:[krE:ri 'r!trz>l,ti