HomeMy WebLinkAbout2554
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to be made hy the City, Village, County, State, or Federal authorities to the present and all subsequcnt ownns of tht'
premises herein dt'scribed, including any award or awards for any change or changes of grade of strt'cts a!T(eling
said prcmises, which said award or awards arc hereby assigned to the said Hoard and its legal represl"lltatives,
successors, and assigns; and the said Hoard, for the said Board, and the legal reprt'sentatives, successors, an,1 assigns
of the said Hoard (at its or their option) are hereby authorized, directed. and empowered to collect and reCl'i\(' the
procet'd~ of any such award and awards directly from the authorities making same, ami to give proper rt,,'t'iPh
then.for alHI to apply the same toward the pa)'ment of the alllount owing on account of this ~l()rtgagt:', and the
part)' of tll(' first part. the mortgagor herein, for the said mortgagor, and the legal representativt's, SllL'l"t'~,()fS, or
assigns of the mortgagor he:'eb)' covenants and :\grees to and with the said Board. its legal representati\'l's, ~UClT"or"
aud a~~igns, that upon request h)' the holder of this mortgage the "".id mortgagor will make, execute, an,l ddin'r
au)' aud all assignnj('~lt~: al\(l other instruments sullicient for the purpose of assigning the aforeqid award and awards
to the h,)lder of this nlOrtgage, free, clear, ami discharged of an)' and all encumhrances of an)' kind and nattlfc
whatsot'ver.
:\nd the party of the first part, the mortgagor herein, further covenants with the party of the second part,
the said Board, being the mortgagee herein, as follows:
I, That the sai{1 part)' df the first part, in consideration of the amount hereiu set forth, doth herehy covenant,
grant, promise, and agree to and with the said party of the second part, and doth hereby hecollle b0und unto
it as follows, that in case the said Church or corporatiou, party of the first part, shall ceasc to be connected
with the l'nited Preshyterian Church in the l'nited States of Am<:rica or the corporalt: existence of the ~aid
p:trty of the first part shall cease. or its hr)\Jse of worship or mortgaged premises Ix: alienated, or sold, or its
hou,e ahandoned as a house of public worship hy the party of the lirst part except for the huilding upon the
same premises uf a hetter hOllse of worship, then, and in such case, it, the said party of the liht part, ,hall and
will fOl.thwith refund. amI it herehy t'O\'l'nants and agrees to pay. to the said party of the second part, its
successors or assigns, the said amoullt with 5',; interest thereon from the time of reC\'ivillg it, and upon the
happening of either of such contingencies. the said slim of money with 5~'; interc'st thereon ,shall be due alld
payahle to the part)' of tht' second part. its legal representatives, Sllccessors, or assigns,
2, That the mortgagor will pay the indl'htedness as hereicbefore l)rovided.
3. That the 11Iortgagor will keep the huildings on the premises insured against loss hy lire for the bl'lldit "j
the nll.rtgagee, in such manner and in such insurance companies as the said mortgagee shall appro\'l',
4, That no huilding or huilding, en the premises ;;hall IX' rCI1iOHJ, or dl'1lillli~lled, or alJ:lndlllled. "r sold
withflut the written consent of the nlllrtg:I;":('(' hneill and of the Preshytery 111' Synod within the b. ,und, (Ii
\\"hic!1 the mortgaged prOp(Tt.. is located,
:;, That thl' mortgagor hercin will pay all taxes of any kind or nature, as~e~'llll'nls and \\";Itn ratl'.' \\"1:1,'h
Inay Ii "\" he due or whi,:h Il1ay bet'lll11l' due or which Inay bt' htlT :hsl'ssul hy tll(' Fl'dnal g"\ lTnl1ll'llt,
~ta[e gr'\"l'rn!11l'l1t or any ,ubdivision thneof.
f,. That the whole of saill principal sum shall hecome due at the option of the mortgagee aftn deLtl1lt 111 tli,'
P:IYl1ll'nt of an)' tax, water rate, (II' assessment fur thirty days, or upon the hapPl'ning oj am' of till'
clll1tingencil's as hel"l'jnhefllre provided.
7, That the holder oj this mortgage in any action to foreclose it shall he entitlt-d to the ;Ij'jlililltnll'llt "j :1
receIver,
~, That the murtgagor warrants the title to the pre!llise~.
'I That the whole of the principal sum shall become due at the option of the nlOrtKagn' aitn deiault fur thirty
day" in the payment of any installment of any as,eSS!1lent for lucal impr<)\"(,lnent hert't..j..re or hlTt'ait.'f laid
which is or may hecome payahle in annual instalments, and which has affected, now afTects or hl'feafter IlIay
affect the sair! pre!1lises ; Ihat the wholt' of said principal sum shall become due at the option of the 11Iortg-;lgt'l'
upon the actual or threatened demolition or removal of any building erected or to be erected upon said
premisl's ; and also that the whole of said principal .Sllm shall become due at the option of the mortgaf.:n' upon
any default in kceping tb" huildings on the premises insured against loss hy fire as required hy paragraph
lllul1hered .. 3" ahove,
10, If any action or proceeding be commenced (except an action to forecluse this mortgage or to collect the
debt secured thereby) to which action or proceeding the holder of this mortgage is made a party or in whidl
it becomes necessary to defend or uphold the lien of this mortgage, all sums paid by the holder oj this l1lort-
gage for the expense of any litigation to prosecl1te or defend the rights and licn nl'ated IIv this mortgage
(including reasonable counsel fees), shall be paid by the mortgagor, together with intrre,t thl'l"eon at the rate
of five per cent per annUIll, and any such sum and the interest thereon shall be a lien on said premises, prior
to any right or title to, interrst in or claim upon said premises attaching or accruing subsequent to the lien oj
this mortgage, and shall be {\cellled to be secured by this mortgage and by the bond which it secures, if any
there he, In any action or proceeding to foreclose this mortgage, or to recover or collect the debt ,('curer!
thereby, the provisions of law respecting the recowry of costs, disbmsements and allowances ,hall prnail
unaffected by this covenant.
i I. That the whole of said principal sum shall become due at the option of the mortgagee ii the hll;ldiflgs on
said premises arc n0t maintained in reasonable good repair, aftl'r nnticc of the cnndition of the buildil;g is
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