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HomeMy WebLinkAbout2770 ,1 ~ GO G~J8 ( :..' I ~ 'I . .... ,. '. ~ -..._~ 1 r .'.,[ r .',U,i I rl ,\ , I , , .--.......-..-.-.--- _.. " 1',,111 dl'~,lult ill tIll' 1'<'I1"I1Il"Ul'" of 11... 1'''\''1''"110; alld aglt,(,III"llh of this 1l11111g.lgl', the Illllllg'lgors sh,,1I be 1'lltitk.1 ,.. l'l,lll'd till' I t'lI 10; , 1"\It'S "Iill I'lolits fl01\l till' pl1'1\Iises hl'rl'illbefoll' d,',.-l1l11'd, 11IIt ill l'.l'" 01 " dd,lult ill au~' of the IlTlI" 01 this IIltld~,Il~I', ,,11,1 Ih.. filillg 01 " bill tll fowel"'I' this or allY olhn lIIortgagl' l'UUllllbl'liug tl... withill dl'sl'rilll'd pn'lll'ltv, the ,\\\I",j,ltitlll ,1...11 illllll.,.li,lt.-k .11111 wilh"ut lIotl(,(' bl' I'lItitll'd tll tl... al'poilltllll'lIt of a Ih'\.'l'iv.-r of 1111' 1I1l1rtgagl'd properl\', "11.1 "f Illl' It'll". 1""I'S ,11"\ pr"!I!' t})('It."I. wilh th., u,u,.1 power of 1\1'\.'('IVI'rs ill su.-h C.IS('S, :uld 'Uell Hl'('l'i\'l'r IIl"Y hI' l'Olltillued 111 \,I"""'"'!! ..I tl... ,.Iid 1"01"'11\' 11IIt,I 11ll' tillll' of II", s"lt' tlll'rl'of IIl1d.'r SIll'1. forl'cloSlllt" alld Ulllll IIIl' 1\"lfillll.tlillll of "HI. ".I. \" !l,,' ( 'lllld ~l II ,I t.,"VI'\ ,llltt' ,1","1.1 Ill' 1",ldl' by tht' lIlortg.lgors of tIll' I'It'uli,," hl'll'ill dl'sn il>l'd, or .UIV p.lfl Ihn,'of, \\ illll"'! !!". \\'lItll'll ""lI"'lIt "I 11'1' :\"11< i.dillll, ,,"d \\ Itlllllll ,ISSllIlIl'lillll iu n'~ubl lor1ll of L\w bv tl... ~r.IIIlt'.' of th,' ohlig,ltitllls III tl... \",,,,i,ltl'''1 t'II,,:t.-d 1,\ ',11.1 I'r,,,ol"O'" 1I1ll<- "ud llti, Ulllltg,lgl', IIll'lI, 111I1 III th,11 "\('111,' .11I.1 .It 11ll' Ol'tlllll ..f till :\"llt'"ltll''' ,llld \\ltl","1 lI"tln', ..11 ,1I11l' ..11I1"1ll'\ "'l'lll'd h'Il,I" ,1..111 II 1I11lt'1 It ,I I..! v .llullOlllllflt'lItlv WIll. "I.-h ('OIlV,'\,lIIl'1' b('(tlllll' .IIII' ,11"\ I',"dl,k ,,,,,I ill d('hull. TIll' :\ssll('iatioll 1ll.IY lll'al ~vith successors iu ;ult'n"t with rdl,It'I\('l' 10 this IIlortgagl' aud thl' d..ht hell'b\' 'l'I'llIt'd iu till' "III'" 1Il,lllIll'r "s "ith tilt' IUllrlg,lgors, allllllla~' forbl',Ir to "11' or Ill"V ..\tl'lId tillll' for I'''VII'''llt llf till' debl, ,,'Cuft'd 11l'1t.\,\, llr llllll'''' i,,' "d willt"lIt dlSl'}.;II~ill~ 111 ill allv w,,,. afft-ctillg lilt' Ii.lbility of lIlt' lIlorl~~"~or' heft'lIlltlt-r or 111'011 lIt{' debt 11l'1..!1\' "TIII("1. TIlt' :\,,,,,'i,llillll III,IV also dl',ll with the ~lortgagors alld or with \I"Tl""'Or, ill iIIit'll's! with Idl'fl'lll'l' to thi, 1l".rt~.I~" .11111 till' dt'ht Ill'fl,ll\' "Tltrl,d b\' forlll'arill~ 10 Sill', exll'lldilll!, the tillle for p,IY1l1t'1I1 of Ih.. debl, providillg f(lr diff('fl'1I1 1IIll1lthh' P,IVIIII'1l1S '"HUor a (hfft-r.-1I1 illl.'fl'sl rat." amI by other "Xpfl'SS 1Il0difiealitlll\ of thl' l'lllilr.,cl, Wll!.lltlt lo,ing :111\' priorit' till' :\S,,,('i,ltioll h"s over olllt'r lIlofl~,I~I't'S tlr Ill'lltlrs tlr hol(krs of allY jllllitll illlert's" !Il tl.e pIlIP""V "TIIIl'd Iwrt,bv, 10 T!.,il ill tilt' I \"'111 tIll' 1'1l'llli'I's Ilt'fI'bv 1l1(lrt~a~.'(I, or .111\' pal1 Ih('Il'of. sltallllt' ,'011.1"111111'\.1 alld t"kt'lI for Pllblil' liSt' 1I111II'f tllt' I)()\,.'r IIf "'lIilll'lIt dlllll.IIII, lilt' :\ssll.-iallllll ,h"llll:ln' tilt' ri~!.l III d"III'"111 that all dalllagl's awanlt'll ftlr thl' takilll!, of 01 d,llII"t'Y' tll "lid premi'l's ,h,11I I,.. l'"it! 10 th., '-\ssl)('ialillll, it'< SIHTI'SSOI' or a\Sit~I1S, III' tll Ihe :1I1l01l1lt IIllpaid 011 this 1Il0rtgagl' alld 11I,1\' h.. :lPi,lil.d IIpnll tIlt' P:I\'Illt'1I1 or P''''IlH'IlIS lasl I',IV,lhll' tllt'fl'oll, II, It is sp,'cific-allv apl','d th,lt tillll' i, thl' 1'\Selllt' of this (,Olltlal'l ,(lid tl."t IlU wainT of allY obligalioll hnt"llltkr tll Ill' tilt' lI1,lig"tioll StTllfl.d hefl.I)\' slull .11 an\' till1t' Ihell.afler he hl'ld 10 1)(' a w,liver of the lerms tlr of the illslnll!il'1l1 St,t'lIfl'(111I'rdl\', 12, If f(lfl'('lo\llf(' proe"i'dill!!,' of anv S('('ollll lIlorlgal!,(' or St'{'ollll trllst d,'{'d or all~' jllllior lien of :;11)' kill[1 shollld be illSli, tlllt'll. tilt' :\ssll{'i"tioll Ill"\' :It its "1'1 illll , imlllt.diall'1y or tllt'rl'aftl'f Ilt-d"rl' this 1Il0rtg,II,~e alld the ilHlehtl'dlless SlTllft'd hereby dw' :111.1 p,I\'ablt- ] :), To tilt' 1,\tl'1I1 of tIll' ill.!,'hlt'lllll'ss of lilt' \llIrl~""(lrs to lilt' Assllci"tion dl'sc-rihet! hl'rnll or "Tllft'd hnl'bv the :\sso' ,'i,l! iOll is Ilt'fl'by '1I11101!,all'd I" II... lit'll Of liells ,11I[1 ttl Illt'~righls tlf tIlt" ..Wlll'fS "lid i\IJhler, thl'fl'of of 'each allll 1'\'t'-0: mortg,lgl', Ii, Il or otllt'r l'I,('IIIIl1,.-.IIIl'" till tilt' 1.lIltl d,',eribed hl'lI'ill whit-h i, (l.li.! "lIdlllr) ,,,li,fwd, ill whllll' or ill I'Mt, tlllt tlf the proceeds ..f tIlt' 111,,0 dl',crilll'd llt'rt'ill IIr "'I'III1'd her..!l\', alld lilt' rl'Sp,'divl' \i1'IlS of ,,,id lIl11rt~agl's, lil'lls or otllt'r 1'llellmhLlllct'S, shall pass 10 "lid Ill' Ilt'ld bv tIll' :\ssoei,llioll Ilt'reill as "'Lllritv for till' illde1,l"dlll'ss to lilt' '-\sS')(i"litlll Ilt'reill d,'snibed or Iwrl'bv "'('II red , to tIll' s.lIlle ,':o.'('llt 'th,11 it ,,0111.1 "a\'(' lll't'lI pn'st'nT~1 and wo1l1t1 h,I\'" Ilt'{'1I p,,,,,'d to all(1 IH'I'II hl'ld hy IIH' .-\ssol'i~lli()\; ha(1 il 1H'l'1I dllk "nd 1t'~1I1.11 h- ,,~,i~lll'd, trallSft'ITl'Il, ,d on'r ,11,,1 .Idivered Ulltll th., :\s"l('i,ltillll bv sl'paralf' d('('(1 of assiglll11l'lIt, llotwithsLmd, ill~ Ill(' fad Ilut lIlt' \;lllll' 1111\' hI' ~:llisfil'(l alld (""lcl'lkd of r('{'onl, it lH'ill~ thl' illlt'lIlioll of Ihl' p,lrlies herl'to t"al II", S:l1lI1' will hI' 5,,:isfied alld l"1I1l'dh-d of rt'\.'ortl by tilt' "oldl'rs Iherl'of al or aholll t"l' lilliI' of thl' Tl'l'nnling of this mortgagl', l,l, To I',IY ,,11 :11"] ~ill~~II!:tr tll!' costs, ..""rgl's, alld expellSl's illch"lillg hW)'l'r's ft.1", JTasollahly illl'lIrrt'd or paid at al'" timl' hv tll!' :\ssllci:llIOIl. hI""""'" IIf tIlt' f.tilllrl' III tIll' \lortg.lgors to pl'r fllrlll , ctllllpl~' wit" alld 'IbidI' bv ('"I''' alllll'\'('rv stipllh, fillll', "t:""'IIlI'''I~, ","ditill'" ,,".1 ('Il\Tllallls of ,aid prolllis~ory 1101.. alld lhi, dl'l'd, Ilr l'iflll'l. ,md ('VI'fV Sill''' p.IVlllt'lIt ,lull 11I'ar inll'n',! fln:1I l!:ttl' :II lIlt' 1,ltt' ,blt,,1 ill thl' 110'" "'1'111".1 "I'ft,l)v, 1-" '1",.1 "I' ",ill !"'Illlil, ('lIl1l1nit, or 'lIffer 110 wasIl', impairllwllt, Ilr ddl'rillratillll IIf ,,,id prop.'rl\' or allv 1',Irl llll'fl'uf. 'Illd .ill tl... 1\'('111 of Ihl' I' Iilllrt' of thl' \Iort,."..>-;ors 10 k,,<'1' tilt' hllildlll~S 1111 said prl'lIIisl" alld t"o'" 10 Ill' ,.ft'dl'd PIl "lid prt'llIi,,'" or 1I111'11l\'t'II11'lIls tllt'rl'oll III ~'''l(1 ll'l'"ir, till' Associ"lioll 111.\\' 11I,lkt' alld p..v for slIch ft'1'"irs as ill its disl'Tdioll it 1Il.IV 1It-1"I' IWl'I'" 11\' fur t"l' I'rol'('r prl'''lv.llioll Illl'rl'of, allll lIlt' fllll alllOIl"t of 'lIch Jl"~'IIH'lIts shall hI' ,,'('ufl'll hv tll!' liPII of this Illortgage :11111 ,h.dl at thl' optillll of tIll' :\\So..i.llio:l Ill' jlllllll'diatdy dill' all(1 p:I\'ahlt" or pa~,.lblt, in Slll'h Illollthlv illstaHm.'nls as thl' .-\sso..ia. tillll IIl.'" 1l.-lt-lIl1illl', :111.1 I'\TI\' SIIl'h P''''II'''1I1 ''':Ill III'"r illlnl.,t frolll datI' at tlw ralt' slated ill lhl' not.. SI'('lIft,tlllf'rt'hv, Iii, TIl.11 if till' :\\SOCl.ltioll '"ld tilt' \lort~.I~ors al!,rlT, till' \Iorl:~"gors will ..,.TrY a polil'~' or polici,'s IIf illsIILmc" II I'" " tlwir liv!', ill all ali1"lIl1t "'lIl"llrlllll timl' III tillll' tll tIlt' ""1011"1 of illd!'blt-Ihl<'ss hl'I!'''v ~''I'lIIl'd, m.tkillt: s,lid A\SlIcialillll 1,1'llI'fi, I i,lI\' thl,It'lIl1d!'r, ,111.1 flul till' ',lid :\\Sllci"tillll m"y P,IV thl' pft'l1IilllllS fill' SII.." iIlSlILI\IC" (in thl' 1'\'('lIt till' \Ioft~"~llr~ dOllol!, :llId ,lIld ",It'h Sill''' I' "'IIlt'llt to tIll' III1Jl"i(1 balall"" of Illl' lo,m, as of II", fir,1 d:lY of tll!' thl'lI ('l1rrt'1l1 mOllt", :11,,1 it shall he!' II II " :lddit:"II:tl ill,j,-ht( dlll"s "T'1l1'd h~' this l1Iortg.I~C p,,)':!ble \11'011 dl'Ill,,"d, 17, TIl.l! ill th!' 1'\,(,111 th"t t"is 1IlIlrl\.;"g" Il\' givI'11 to ~1'..lIft a CIIII,tnll'tioll 1'L1I1, failllrl' Oil till' p:lrt of IIII' \lorlg.lgnrs ..I' tll,'il ('IlI,tl.ll'tllrs tll (,oll1pll'II' s:lid 1)\lil.!ill~ ill "l'l'OrtLIIlCl' wilh C"llSlfllllillll J.O,1I1 :\~n'I'II]l'III, of l'\'t'1l Ibll' h(H'with. or to ""i1d ',lid ("Ill\tlllltillll in al'l'lIrd,lIlll' with pt..l1\ :11,,1 'p('('ifil'alio!I\ fikd willt till' Associatillll, shall ('llTlsliI1lt" a hrt'.I('h of this mort~,I~'" ,IIlILlt tl\l' 1'l,IIllII Ilf II" :\",,,i:ltilln, imllll'llialt-lv mat1lft' thl' I'nlirl' alllollllt llf principal alld illlt'rt'sl Ill'~lhy Sl'cnrl'd alld the A"" . l'i,t1illll ma\' ilnllll'dialt-h' ill,tit1ltl' 1"IlI'I'l'dings (II forcclosl' tllis l1l()lt,~,It:I', I", Th,,1 tilt, "],,tr.ld III ::l"tr.\l'ts IIf tit!t- t'iI\'('rill~ IIIl' IllIlrt.~"~I'ti I''''jwrtv ,h,dl at all times, tlurill~ thl' lift' IIf Ihis lIIi1fl, ~:l~I'. \1'11I,1111 ill II... (lll,,,,,,'illll ..f tl... :\","('i"tillll ,,"t! ill thl' I'Vl'nl III tIll' fllrt'dllsllre of this 1Il0rt~age or lItlll'r tr.ll"ft-r 01 tillt' tll till' Illilrt~,I~I'd prlll'l'rt~' in ,,\tilll!,lIi,111l1l'1I1 llf 11.., IlId..llft-(IIlt'ss SI'ClIfl't! !.l':..I,y, all ri~ht, litll', alld illlcrest of tilt' ~lort~,I~lIrs ill allt! tll ""V slIch "h,tLld' of litll' ,h,dl P,ISS tll tIll' p'lIl'ha\t'r pr gLtnlt'(', J~l. TIlt' A~"H'i"tiIl1l sh,,11 han' II... ri!.',hl, ill its dis('Il'liOIl, tll re'i1lir!' th"t the \Iort!-,-,I~or'; p.I~' inlo Ill(' Associalioll in :llldi tlllll II' th,' lIl'lIlthlv inst.dlll\l'lIts of plint'ip,11 alld illlt-r",t to hi' p.tid hv till' \llIrtt:,I~llrs 1I1III.-r till' 1Iole s!'t'lIrt'll hv this 1llIlrt~,I~", ,ii' "IIIIl\lllt 1''111.11 10 1l1ll',tw..Ifth Ilf the :tnnILII illsl.llIllll'nls of an\' LI\t'~ pn IIIl' /Ilprl~,'~' d prl'mises \t-vit'd or aSSl'sscd hv a1l\' \!II\" \llll<'IlLtl a1ltJ.mil\', "lid 1IIll',lw..!fth Ilf tIll' '"II1\1al prl'miums fllr Fir!' and Exl"III"'d Con'Llgl' il1\1Iralll't' "Il thl' lIlUrtgag,'d prl'IIli,," ,IS l\l'rt'inlH'I,')ft' \I"\lIilt'd 11\ tl\l' :\'" ,('i,t1 ill II , ,llld till' \lllrt~,I\.;ors' [;nlllrf' tll maKt' s1Ieh pavllwllts slull ClIll\titnlt- a d..r"1Ilt ullder 111i.... IlllHt~~lgt'. 1'\ \\Tr'\ESS \\. 1\ I-' 1\ 1-:( IF, till' "lid \!()Ilg"~lIr.; 11<'1I'\l1Itll ,,'t tlll'ir ha1lds alld st'als the da\' allll \'(',Ir fir.;1 ahllS'!' writtl'1I. Si~w'cl, ",.,].-d "lllj tl..!ivllt'd '" tho I'rl'Sl'lll'l' of: ?/~Z~~~(:2~ tlfrold A. Ray . / ' l \~_.., c~ )-'-.}.- ...._ l.... ,-' ~ -)..1--. '- .--1 /C,~:!l , --\:) ,0 (SE:\l,) '/~"','/<'- ) -/ - , to :' "<'C.,, , l vL- \.' "-----------'" " ,.'<~ I~" '/~) -) ~. .1: , "'~' ~/ " Carrie Sue Ray --L{~SE.-\L) , . ( SEAL) '. . / ,: I // /~ '.,; , ( SEAL) ,....~RTGAGORS) i.'NIT~~ESSES)