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HomeMy WebLinkAbout2240 ;"1 :" P{) '1 ')'1 t) t I : ,\, ~ ...L') , I . , ( ... - , Mortgt\go~ ~ht\ll pay to the Mortgt\&t>-c allY tlTl\Q\Jhl. h~t~~ ~.~~ Jp the dl'fi,il'IICY, Such paymrllt shall be made ~'ithill thirty ,(:'W) dftys a!ter written no~ice lromtlte Mortgagel\'st.ating I u' amount of the t!l'ficiellcy. which Ilotlce may be given by nuu!. If at any tlm{\ the Mortgagor shall Wilder to 'Ill' Mortgl\.KI'e III uccord- ance with the provisions of tl~e nott' 8"CUrt,<f hereby, full payment of the entin. indl'btednl'ss rl'prl'sl'ntl'd thl'reby, the ~lortgagt'e shall, III computlllg the amount of such IIldebtront'!l-~, cn'dit to the I\CCoUllt of tIll' ~li)rtgRf:or allY credit bl\lance remainillg under the provisions of (u) of suid pnmgruph 2, If th!'ft. shllll lIP II dpfault undt.r any of tbt' I?roviBions of ~his mortg~e Tt'sulting in a public sale of thl' prl'miS('s covl'rl't1 h,l'rl' by , or if thl' ~lortgl\gl'!' acqulrl'S the propl'rty otherWise aftl'r dl'ft\ult, the Mortgl~t't' shllllllPply, nt tIll' tllnl' of the cnmmt'lIc!'Oll'nt of such prnc('{'dillKS or at the timl' the propl'rty is othl'rwl!W IIcquLn'd, I hI' ILmOullt thpn remainillg to credit of Mo.tgagor, U1!dt'r (a) of par~aph 2 p~t'cl'dinK, 118 II crl'dit on tIll' inlt'rt';!t uccrLH'd and unpaid I\nd the balanc!' to thl' prlllclpal thl'n remulIung unpuHI on Slud nou>, 4, He will pay aJl taxM, 8B8l'88IDenUl, water rat..e8, and other KQvernmental or municipal charges, fines, or impositions. for which provj!\ion hM not bl'cn made hereinbefore, s.nd in default thereof the Mortgagee may pay the llaIDe; and that he will promptly deliver the official receipta therefor to the Mortgagee. 5, He will pennit, commit, or Buffe~ no W!\8Ul, impainnen~, or deterioration of said property or any part thereof, except rell.8OnaLle wear and tear; and I~ the e~ent of ~he fallure of the Mortgagor to keep the buildinK8 on said prerniB('8 and those to be erectw on BII.Id preml!le8, or ImprovemenUl .hereon, in jl;ood f\'pair, ti.e Mortjl;lljl;ee may make such f\'pairs !\8 in its discretion it may deem neceB8Alj' for the proper pn:-aervation thereof, and the full amount of each and eyery such payment shall be due and payable thirty (30) days after demand, and shall be 8('cured by the lien of this mortgage. 6, He will pay all and singular the ~U1, charge8, and expense8, including f\'aBODable lawyer's fees, and costa of ab6tracUI of title, incurred or paid at any flOW by the Mortgagee bt'causc..of the failure on the part of the Mortjl;aROr promptly and fully to perform the ~ecm~nta and COVtmanta of said promissory notc and this mortj(lij(l'. and said 008U1, charges, and cxpeJlB('8 shall be ~dlaUlly due and payable and shall be 8('curt.d by the lil'n of this mortj(age, 7. lIt) will continu~lUsly main~ bazard insurance, of 8uch type or, types a.nd amounts 8.." ~lort~IlJ..:f'f' may from time to time reqUlre, on the rmprovemenUl now or hereafter on saHI prenllses, and eXt'ept whl'lI PtlYIIlPllt for all such premiums h!\8 thereto!ore heNI made under .(a) ,of para.gr~ph 2 hen'of, he will pay prompth: whrn due any premiums thl'refor. AlImsurance shall be earned m eompallle8 approved by Mortgagt'e an.d the poli- .{:'.iNland rl'newals therl'Of shall be hl'Id by Mortgagee and have attat'hed thereto lo8..'i payable dl\ust'S in fayor of and in form acceptable to the ~lortgagee" In event of 105M he wil~ give imnwdiaUl notice by mllil to ~lortgagt'e, and ~lortgagee Illay make .proof of I?ss if not made promptly oy ~lortgago~, and cl\eh illsurallce compl\llY concerned is hereby I\uthonze.d and duect~d to make payment for such 10!l-'l Ihrl:'dly to ~lortgagl't' illstpud of to Mortg~or a'.ld ~l,ortgagee jointlv, a!ld the illB~ance proceNIs, or any part thl'f('of. may bl' applil'd by ~lort- ga.gee at Its optIOn I'lther to the reduction of tbe mdebtedn{'S.'i hereby secured or to thl:' restoration or repair of the property dallla~ed. In event of foredosure of this mortgl\gl', or other transfer of title to the mnrtgllged property in l:'xtinglIlshml'nt of the indebt...dnl'SS Recured hereby, all right, tit It', and intNest of the ~lort~agor ill a.nd to any il~'lurllllce policiNl then in force shall pass to the pllrch8..'>Cr or grantee. H. Ill' wdl Il"t "X,"'llt.. or fill' of rl'l'ord !In.... instnlllll'nt whidl illlposl's u r,'strwtl"ll IIpOll tl". ....tI., "I' ......11_ paney of thl' prop.'rty dt.....-rihl'd hNt'1l1 on Ihl' ba~i!'o of rat'I', color. or "rt't.d. ~I, I [ I ill' l!I"lIll";t.,." "I' allY pILrt t IIt'r.'of. 1Jl' l'olld"l1lul'd 1I11d,'r tilt, pOWt'r of t'lllilll'1I1 dOIIlILill. "I' IL('(l'lIrt.d f"r IL I"lb'i.' 'I';", II". dILIIlIl~"S HWILrd..d. tl", pr''''l'l'd... for tilt. tILkillg of. or tilt. (:oll...idl'rllli"!1 for ,.;udl 11l',!lli,,.;i- ! I"", r" I !I" .'.\ I "Iii, ,I' I it., [,dl ILIIl'''"o1 "f I I". l'I'lllllilllll~ lInpaid illdl'btl'dllt's,s sl'('lIrl'{l 1,.\' thi,., IlIorlgH:':". ar.' \'''1',,11\ ll,.;...lgllt'd t" ,h.. \1"rtg'lIg..... Hlld hI..; I"'ITS or n,;siglls, alld shllll bl' paid forthwitll to ';Hid ~1"lt:':Hg.,., "r III,.; 1I,...igll"., III I.,. lIppl".d "II a,.,.ollllt "f t hI' IlIsl IIIHtllrillg im'tullllll'lIts \)f Sill'll lIIdl'btlll'...;S; pro\'id,'d, how- "\"'1. lIl" \IOII!:IIl:,'" "I hi"; a...'I:.:llt.I'. IlIa.\ ILt hi... di';\Tl'tio:1 PILY dirl'.-t to th.. ~fortgllgor. hi" h,.ir,.; "1 ''',,.;lgI'''; ILIl\ pHI'l 'II' all "f slI.-I1 ILwILl'Il; provld,'d. thllt if tht. 10uII is glll\runtl'l'd or IIISUI'I'd, th., """";",,, ,,[ tl", g'lIlrall- t"r or I1l~UIl'r 1<'; obtlllH..d ill nt!v'lll('/' of sHid paYlll.'nt. 10. Thl' \lt1rtgngl'l' ilia..... al. an\' tilllr pending 1\ suit lIpon this 1Il0rtgllgl', l\ppl.\' 10 tilt' ",,"rt hll\illg jil:I';.!'," tion thl'rl'of f('r tilt' I\p/lOintllll'nt ot a rI'CI'I\'rr, and such court shall fonhwith appolllt a rt"'l'i"l'r "f ,I", pl'l'lllisl's coverl'd hl'rt.h~.- allllll\ singllil\r, indlll!in~ 1\II,I\I1d, singular the inl'ollll', prof!ts, is-'lul's, lint! rt'\','nllt.,; frOll1 whllt- t'vl'r sourl'l' d.'n\'t'd, I'lll'h UI1t! I'VNY of whll'h, It Ilt'llIg I'xprt,,,,.,l.v undl'rstood. IS Ilt,rt'by 1Il0rtgli~,'d 1\... ,f"p",'1fj"lllh set f\.nh lind t!l'....-rdlt'd in tilt, grt\lltillg ant! hl\bl'ndum daust's hl'rt'of. SUl'h I\pp"illtl1lt'lIt ...hldl h" IlIlId" 1,\, such !"ourt I\S I\n udmitted equity Slit! 1\ ml\ttl'r of absolutl' right to sl\i.1 ~lorlgu~t't', lind withllut 1..t"Il'I\l'" I;' thl' sde'PIt\('y or inHdt'qual'Y of tht' valliI' of thp projwrty mort~t\gt'J nr to th.. solv,'n(',v or illsc,lvl'nn" "f sl\id \f"rtgt\J..:"r "I' till' dl'ft'lIdt\lIts, Such n'nts, profits, incomt'. i~",up", alll{ r('VeIlUI'S shaillH' I\ppli,'d hy ~II.-II 1,""'1\',,1' I\c..."rdill~ 10 till' li"1l IIf this l\IllrtJ..:u~,' und till' prul"\i,'t' of suc'h court, In till' "\"'111 of Ii 11.\' d.,fu,tlt "" ti", pllrt of till' \1"1:~,,,g"r 11l'n'lllldf'r. thl' \lort~uJ..:or ugn't's to puy to till' \lort~lIg"" on dt'lIIlilld IlS 1\ n'a,""IlI\I.\" 111"1111", ~l'ntul for th.' prt'lIl'S..~ HnUlllClllllt ut It'ast t'qni\'IiII'llt to OlH'-twelfth (I,,) of !Ill' 1\~J..:n'l-'at., "f tht' Iw"I\,. IIl"III!r!\ mstHIIIlIPllts pnYIlI.\p 111 Ih.. tlll'1l cun"llt y!'ar plus thp I\l'tul\lam'"ll1t of Ih,' UIIIIIIUI tux\',;. a......'."SIII"III..;, Walt-I' rllll's, I\nd in...llrlm"I' pn'lIIinllls for sUl'h Y"lir not ('o\','rt'd by th.. ufon....l\it! monthly pliym"llh, 11. III thl' l'\,('nt of I\II\' hrt'al'h of this IlInrtgage or tI..fl\ult on tht' pl\rt of thl ~fortrligor. or ill tlIP ,'\'.'nt thnt UIlY of "11.1 SUI1IS of IIlCllIl'Y lH,rt,jll r..r.'rrt'd to bt. not prolllptly lint! fully pl\idl\f'l'ordill:~ to till' klll,r h,'rpof. or ill I h., "\'I'll t 1 hlit t'u!"h Imd I'\'IT\" tIll' st ipulRt iOlls. Rg'n.t'IIIL'1I ts, I'ond it iOlls, ulld ",,\"'111\11 h of ,aid Ill"" 1I11" this Il1l1rtgl\!;". hn' lIot dilly', prolllptly, und fully Ill'rforml'd or if tht' \Iortgt\gor bt' udjlldic'lltl'd hallkrupt or IIIHd,' d..r"IHll\lIt ill u bnllkruptcy or nOl'pi\"t'r.-ihip prtH'pt'dillgs; th..n in t'itlll'r or l!.ny sneh 1,\'..l1t, till' ...Hid H~gT" gatl' sum ml'nlioned in sl\id 1I0tl' thl'n rl'msining unpHid, with inlt.rt'st accru..d to tlll~l tim,', ul1d 1111 Illlln..\ ~l'l'un>d h l'rl' by , shall ht'coll\l' due and pll\"l\bll' forthwith, or thrrl'l\!t...r, I\t thl' optioll (,f ...lIid \1"rl!,II~to", "s flllly Illlt! l'ompld(']y' liS if all till' shid SUIllS of I1lOlIl'y W!'rt' originldly stipulHtl'd to h,. pllid "II -wI: ,Ill,. 111i'.- thing in "nid 1I0tt' or in this lIlortgage to tht' l'ontrllry notwithstanrling; IlntltlH'rl'upulI or tIH'n'llftl'r. III Ih" opll"lI of sHid ~fortgugt'r, without 1I01il"!' or d!'1lI Hill I , suit at Il\w or in !'quity, 1Il1i',' h., pr""("'lltl'd II_ If 111\ 111'01,..\"; s!'c'lln.d her"hy hHtlml\lllrt'd prior to its illstitutioll Tht' ~lortgll~"1' IIIIIY (0...,.,1",;., this I1l;orlgll:':,'. II' :" :L" hllloUllt so dl'.-ll\rt'd tlu.' und pI\Yllhlt', and tht' !lI\id pn'lIIist's shl\lIl)(' sold to shllsfy lIl1d puy tIll' SlIlIl,' 1"':"111"1 with I'O"ts, t'XIH'IISps. nndl\lIowHIH'I'S, In I'IlS,' of pl\rtiui fort'c1osurt' of thi" 1Il0rtgHg", till' rnort!:lIgc.d pr"llli.;,., shnlll.H' '-'old suhj\.(.t to tht'l'olltilluing lit'n of this lIIort~u!:1' f.lr 11ll' 1\1lI01lllt of lhl' cl,,},t 1111' Ih"11 .Iii" IIIlt! illplli.! In SIIl'h ('HSt. the provisions of this pl\rl\j.,rraph IIlSY /\gain be avnill'd of tlll'rt'lIftcr fWIII tlllle to 11111" I,.\' Ih" \lortgngl'r, 1'2 ~o waivl'r of any covrnant hrrl'in or of thl' obligation !'\Ccllr..dlll.rt.hy sllldlttl 1"1\' tilll" Ih""'II(t,'r IH' Iwld to bl' a wlti\'rr of Ihl' terllls hl'rl'of or of tlH' Ilot~, "1't'lIrerllH'rt.hy, J:l. 1'111' lil'n of t~li~ inslrllllwnt slt"dl Tl'lIIuin in filII forI''' 1\11.1 ..ff.o.,t duril1g nl1\' 1""11'''11''111''111 "I ,\1<-11,.;1"11 of the tillll' of pl\...."H'llt of thl' i:\tlt'btt'dlll'!l-'l or any prlrt thl'rt'of SI'Cllrt'd Ill'rl'by, . 14, Thi" ll1ortgngl' is gin.n to Sl'l'url' Ihl' pllrl'ha"e \I1onl'..... or R pHrt thrrl'tlf. nf lilt' 11l11d,; hCrt'llI d,....ndlt'd and is I'x('clltf'd I\nd dt'lin.rrd t'ontl'll1l)()rlllH'ously with tl1l' <l1'1't! thrrefor, 1:, If Ihl' \lorlgl\gor d(>fl\ltlt in any nf thl' COVt'nRnt8 or IIgrrl'mrnts I'ontainl'd lwr..in, or ill sllid Hot." th..lI thl' ~lortg'II~t'1' mil:'>' jwrform tilt' "Rnll', and alll'xp,'nditllrl'S (illdlldin~ rl'/l.'olll\hl,' Jlt tornl'Y'S f,',o,;) 11111<1., h\' th,' ~fortgug..'> III so doing shall draw intNl'st Rt tllP rl\tl' pwvidl'd for in tIll' prlllcipul i1:d.,IIt,.dll"",s, nll.l slndl IH' Tl'pl\Yllhl,' thirt\' (:lO) dl\~'s a!tl'r dl'lIll\nd, I\lId. togl'lher with inlt'rl'~t I\nd costs Itc'nut'd th"f""I1, "h,dll,,' ""C'l(t'd by Ihis ll1ortgllgi'. Iii, {'pOll tIll' rN(lIl'st of thl' ~lnrtgl\gt'1' \lll' ~rortgllgor sh>>.ll eXI'Clltl' and ddivl'r R Sllpplclllcnl,d lI11tl' or Dolt.S for thf' slim or SIIIIHI l\li\'lIncl'<I b.... thr ~fortgngl'l' for tllP Hltt'rlltion. ll1od,..nlizlltion, illlpr"\"'ll1l'lIl, 11I,,11I- t<,nRnCf', or rl'pl\ir of "Rid prl'lllisl's, for taxI's or n!l-"Il's.'ulll'nts I\guinst tllP salllr Rlld for Ully' othl'r pIlIP"S!' I\llthllr- ized hl'rl'uIHIH Said not... or notl's shl\lI hI' sl'cure<l hl'rt'by on 1\ purity with find I\S (1I11y H' if th,. 11lh'1l1ll'1' t'yit!enl't't1 thl'rl'hy Wl'rf' includrd in thr notl' first t!l'scrib,'d aho\'1' , ~I\id slIppl,ollll.'lItlilllot.. or l1olt',; ,.,lrnlll"'lIr