HomeMy WebLinkAbout0346 . - - - - ' - _ . . _ . . . . . . . . f !
r . . •
Mort~a~or ~1p~ i~o ihs Moets~es a~ arrana~ neoeMar~ to make np t6s d~. 8noh t~l!
be m~ds wtt,hin tbiet~ (30) dys ateee wntLea notica i~an tbe M ~a~es~statini the snaua~ oi ?~e
d~~r
w
L
i
o
6 n
o
t
i
o s ma~ b e ~en b~ m
a i
l. I
t ~ t~
i m
e t~
h e M
a~
s
g
o
s~~ t
h
a
l l t~
e~
der t
o t
h
e ~ do
rt g~
e e ia ~ooa~d- ~
saos wit6 ths_pro~isrons o! the ao~e esc~bereb~~ inU ~t ot the eaW~e iAdeb~edaea rspre~nt~ed
, thee~sbl. ~?e M ~L~tl. in oompntin~ Rhs annount ot su~ ialebted~ ~~edi< <o ~he aoooun~ of the
M r~o~ atU ~bai~nce uadeR the pe~o~ioos of (s) ot aid 4. It thers shall be t.
dei~i?uIL vnder a~p ot t6s ~ro~isio~ mortg~s re~ul in ~ puWic wle~~premi~e~ oo~ee~d h~eb7 ~
o~ it tbs Mor~g~ges acqwres t~hs pr~peK~ otLerwue ait~ee detRUlR the Mortg:ges d~+tU. ~p . ati t6e time o~ ,
Lhe oo~maneuoemeat ot m~h pa~oaeedinga o~r aL tLe time the proPerty is ot6arw~ss . t6e amounL then ~
m ~
remainiag ~o credit oi M nnder (a) oi par~grsph ~ praxding aa a aediti oa e interat aoacued aad 1;
unpaid an~ the balanoe tio~p~in~pat than remuning nnpai~! on aid nots.
HO R~Q py? ~ tt1DE~ i~Aa~ w:LO! ri~!/~ ~ O~b!!~nme~n
~ a!' 1n1~Oi0ipv ~11~ ~11~ O~' ~ ~ ~
~ imPodtbn~. fa w~ich pro~vidon bas ao~ bee~ made Lerainbetors, ~nd ia detwt~ thee~eof ibe Diortp~es m~V Pq? fbs ~ i
Mm~s; aad t~6st hs wlU pe~ompf~ d~lt~ree i6s c~dsl reoe~p~s tLe:~eiae !o fba ~[ott~es. ~
b~, He wiIl permit. aoanmit~ ae ~uRae ao w~sts, i~np+~irmea ae deleria~~ ct ~d pe~opest,r ae
eoooept re~onabls wa~r aad ta~r• and in tLe erent oE ~~~fb~s Mo~goe ~o keep ~b~t~d~i ~ ~
p~emi~es and thoes to bs ereci~e~ ca aid premnieee, ce prov~en t~ee:'eon, 7a ~ood rep~ir ortp~es my ~
maioe euoh npJr~ ss in ib ~tion it my deem neoeeear~ foe tLsp+op~ pre~ervstioa thareo~ and tLs fiill amo~mt
at ao~ and e.~ w~h ~t .~Il bs dne and p.ysbis ~ aft~ d~d, ,~a~ e~D bs .ee~n~ed 6~ ~ i
ths 1~ ot tbis mo~t~. ' j
` • a He wItt pyr all ~nd dn6uLs tbs oosb, ~es~ a~nd eacpa~se~ ~ re~eoa~bls Lwfee~r ~i~d oats i
; at absf~e~ ci ittk. iaa+ured oc pr~d at anpr tims
try~t6s Mcrt~ee beoa~ee ot t~Ls failure on tbe part at t~he o~
t~ o e' i
promp~tU? a
a
d t~o p~torm t
L
e s~preeabats a
a
d o~veoan
t
s o
t a a
i
d pt~amie~y n
o
t
e a
n
d t,
L t~ a
n
d s v
d ;
eo~t~, eLur~e~. a~eocpeases a6~D be ha~ao~edisteb? dns and pysble aad ~11 be seo~u~ed b~ tbe liaaa~mort~~e.. i;
` - 7. Hs rdlt ooa~innou~e~? mainta~a hasara ~n~s, oE snch ~jps ~ snd am~onts as McrtSag~es my
ic~om time to tims reqnine, on ti~e imp~+~~ements now o~ L~et+estte~ on ' ~and exoepti when pymen0 .
tae aIl wch preminms Las tLeretufore been made nnder of p~ragra~h Z~ereof ha will pq promp wLea
dns pa+emiums tb~ere[or. AIl ias~u~anoe e2ull be c~ri~ed in o~mP~~ ~PP:'o~ b7 M ~ges and~ po~- i
aia ~ rendwals t6ereof sh~11 be Ldd b~ Mortgag~ee a~ Ls~s at~a~hed fi~ereto las pw?able~~~ acl
usea in i~vor ct . 1
~ aad in form soosptable to f~Le M In event at loes he will gi~e immediu?ts notice bT,mail to Mostgag~e6, .
aad M , ma~ mak~
~,~pi+ooi~~C~ it not m~ds prompt~j b~ Martgag~r~ and each ~suranas oompaa~ ~
' aonoerned~ author~ed and direct~ed to noalcs pUmen~ tor such loee du+sc~ to A~oartga~es_instesd ot-
; to Mortgag~ur and ~ortgsgee 'ointi~~ and the i~nraa~oe prooeals, or atU p~irt ~here~ m~ bs apFlied b~ ~?iorw
~ g~ges sti its optian eitLet. to ~ rednctipn of t~e indebt~ednees L~reb~ secured ar to t~s restorahoa or rspair c[
~~s P='oP~1 ~~6'~ In event of fosec~osure a~ this mor~a~, or othe~ trande~ oi titk tA t~s m~rtg~ged
p~opert~y m e:tanguiahmeat of the indebtedness secured he:+eb~~ aII rigLk title, snd iatereat of ihe Mortga~oe ' -
ia and to aR1 iasuranos p~t~ t~en in ioroe s~ll past to tLs ~r~see ot giantee.
~ ~ 8. He will not e~ecute or file of reoord any instrvmsnt wbich imposes s restrection upon the sab or oocu-
pa~cr~ of t6e P~P~Y d~xibed 4ereia oa the bssis oE ra~ce, oolar, or creed.
; 9. Ii the pramises, or any part thereof, be oondemned nnder the po~ver oi eminea~ domsin, oe aoquired
fo~ s gublic uee, t6e d swerded, t6e proceeds for i~hhe ~ of, or the considen?taon far suah soq~riai-
tion, to the ezten~ of th~ smount of the remaining unpa~d ' ebtAdnee. sewu+ed by t~ie mortgage. are ,
, ~hereby sesigned to the Mortgagee, and his Leira or sesigns, wd ahall be paui forthwith t~ said M~
~ ' or Lis ee to be appli~ed on soconnt of tLe Lat me?tauing iastallmenta of su~ indebtaeee • provided, ow-
t~ag rtgago~r
' ever, th~or ee or his aesignee~ msy st his die~etion pay ~teC~ to t~Le Mortgago~, Lis ~eiis or a~agns
sqy pact or all oi auch awsrd; provided, tLst if the losn is gosrsnt~eed cr insured, the oonsent of tLe guaraa-
~ tor or insurer is obtained in ad~ance of s:id
? 10. T6e Mortgsgee msy~ st an hme pe~~,
gy
a~suiti upon tbis appl~ to Ll~s oourt lu?ving jtuiscii~- .
ti~on ti?ereoi fos the appointmeat o~a reoeiver, and sucL oourt s6all f wrt~ a~pau?t a reoeiver oi the premisea
; oovered heriaby ~11 and singnl~r, includiu~ sll and singular t~he income, P~v, and re~e~nua from what-
ever souroe den~ed, euh and evecy ot it~ e:presaly nnderstood is he~reby mortgsg~ed ~s ii apecificaUy
sat forth ~ad descsibed in tbe,~aaut,ing~'hsben~um cla~es beiboi. 3nch appoiatment ahatl be made by ' ~
; such oour~ as an admitted eq~uty ~nd a matter of abeoiute right to said Mortgsgee. and without referencs to .
the adeqwcy or iaadequacy oi the val~e of the property mort~ or to the eol~ency or insolvenay of said
' M~gag r or the defendante. 3uch rents pmfits, inc~ome, isei~es, re~anues shall be opplied by sucL reaiver
aooo~
rd~
-'ng~ to~the li~? of tLis mortgage an~ the pnctioe of such oourt. Ia t~e eveaL of aay def~ult on. the par6
- of the Mostgagor herezmder, the Mortgegor a~rees ~ psy to tha Mo oa demand ~ a reasonabla maathlv
: rent~l for the premises an amount•at least eqmvale~nt to one-tw?elith of the~r~a
t~e of the twel~4 mont~Llp
, inat~Ilments psyable in the then cun~cat year plns the actual amouat of the ~ tsues, aseeesments, water
ratea, and insursaoe premiuma for auch yeu not oo~ered by tLe doresud mon ~ payme~ .
ii. In the eveat of aay breach of tlus m~ortgage or default on tbe part of the Mortg~g~or, or in ths e~~
~ tbat an~ ot said sums of money hereia referred to be no~ prompdy aad iully Paid ~ooordia8 to the te~wr herecf
; or in tbe evant that euh and every tbe stip
ulstions, age+eea~eats, ooaditions, and oovenanta oi ssid note an~ ~
~ this mortqage, sre not duly. ~+omPtlY. !~?d tully pertormed or if the Mortgs~or be adjudicated baakrup~ or
~ made defmdant ia s baakruptcy or rece~verahi~ prooeedin~a; thea ia eitber or an~ sacb event, the ssid aggi+e-
era
' gate sum meat~ioned in ssid note thenrema~ng unpaid, ~nth intu~at a~occued to th~t time, snd ~ll ~y
k eecured hereby ahail beeome due and psyable iorthwith,--or thueafter, ~ tbe opt;on of said I~iort~sg~e. as
m
' ; fally aad oump~etely as ii a11 We said swaa of monay were originaU~ stipn1ated to be gaid on wch day~ m~ .
. thm~in uid note or m t~his mort~ag~e to the oont~r notwitLat~anding; ~nd t~renpon or the~fter~ ~ti the optioa
, ~s
of sud Mo , without not~e or demsnd, s~ut at lsw or in equity, ms be -p~+osecuted ss it ~lt u~oaeva
~g~gee su
secure~ hereb~
y Lad nutured prior to its institutioa. T6e Mo au?~ ~ireclo~e this mortgsge, as to ~S
amount so declared due and ~payabls, ~nd t7~e s~d premises sh~ll~sdd to wtid~ and p~y tha ~aa~e teg~ether
with oosts espense~, ~d aDowaace~. In c~e oi partial foreclosure ai tLa mo ~ tLe aart~~ premisea
sLall be so~d snbjeet to t6e aont~ianing lien oi this mortgagre for the amount of the
d~e
t aot th~t due
~d uap~ud.
In -sucL csse the p~+~visions of tLis puag~raph ma7 ag~u? be s~a~ed oi l~resiter fi+om time to time by the
1~
2.~N~~o wai~ee oi any a~~enant ~a a~ oi tbe obligat~on ~ecured h~+sb~ shall at aa~ time thee+eaft~ bs
~ _ held to be a wai~e~ of the terms Lereof or ot tba note secured he~+eb~. ~ ;
.
° 13. The liea oi thffi inatrnmeat ~hall nmain in tnll foroe ~trd a~ect durin6 +~7 P~~nement or estension ' =
- at tbe time oi psynzeati of the indebtednee~ or ~u~ part thereot aecured hereby.
~ ' 14. Thi~ mo~t~a~e i~ gi~ai to iecurs the purchass moio?ey, or s p~ thee+eoi, oi tbe lands h~eia de~eribed
~ snd i~ ese~uted and delirered aonte~poraneou~ witb ths deed t6ec~iae. • F
1 b. Ii tbs Mortgag~' ~fanl~ i~ oi tbe oo~es~ants or agreea~ents oont~it~ed he~rein, ae in said noLs, duu _
~ ~ t7~e M msy pe~torm tha sams, and sll expeaditm+es_ ~'indud~ng re~wnabk ar~ornej'~ fees) made b~ Ehe r
E M ~~g+ee sLall draw interest at tbe rste pru~rided fae m tbe principal indebtedneos, and ~hall be . t
F repaa~~~ thirt7 (80) aays dt~r deRnand, aad, t,ogether with interest ~ oosts ~ccsued tLee+eon, sbaU be secured .
~ b7 - -
lA. Upon ths reqnest ot tLs Mort~a~es ~he Mostgag~r ~6~Il exeeute aad dali~ee s wpplemeat~t note oe
~ not~ fa ti~s wm oe sum~ ad~anoed b? t6s Morta~~es ior ths ~it~eration, modernisation, impe+a•~t, msin- .
~ Leoanos, or repair o1 said pe+emi~es, ta~ tsxes o~ ~ts agauuL ~s saota and ice aa~ other purpas sut~-'
~ , ized bersnndee. Swt not~s oe nota sLail bs ~seured bersb on a p~n~ witb ~a~d ai full~ ~s it ths ad~anos
no s
~ ' e~idenoed tbersb~ wee+s iaeladed ia t~Ls nots Sest de~xibed ~~s. ~wppka~eatal no~e or notea ~6aU bear
- Bp: K -
~ _ 345