HomeMy WebLinkAbout0511 - . _ . . . . _ . - - - ~ ' ~ .
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~ Lhs deRcienc~. 3nch eat ~halt bs m~de wifbin Lhirtj (30 d~ atter wri~teo aot~os from tbs ~ortg~g6aT
atating the aaaunt o[ We deflcieaey, which notics msy be ~~en b~ m~Sl. It at aa~ t~me t6e Mortga~or
shsll tendee to the Mortg~ges in acoordanos ~?it~? t~he provis~ons oi the aots ~ecured ha~eby, full p~ymeat
oi ths entirs indebted~nees repreeeAtsd thereby. Lhe Mortg~ges as trustes ah~D. in oomputing ths amoun~ oi
such iadebtednees, credit to ths sooount oE the M r s~ny credit bslaaoe under the provisiow
of (t) oi esid~n~a
ph Z. It there shsll be a det~ader sa~ of the provisio~ ,rtg~gs resulting
' in s publio s~ae oi the premises oovered Lereby~ or i# ths Mort,g~ge~ i?oqwres ths p~opetljn~ ot-h-etw?ies sEter
defsult, the Mortgagee ss trustee shaU ~pp~y . wt the time of the oonimencement o~ auch proceediags or st l
the time the property is.otherwise aoquired, t~ee amount then reaasining Lo csediL ot Mortgsgor under of ~
; para~caph 2 pr~cediag ,ia a cre~i~ii on the iaterest socured end unpsid aad the bsti?aoe to the prinapal then
remsining nnpatd on ea?d-~ota . '
t
4. He wW pwr aII t~e~ area~enb. wat~ee tstb. and othee~e~n~
W ae mmbiPsl c~arte~ oe ;
~po~tt;oa~, fa: wbioh pe~ovidon ha~ aot beem~ m~?ds bae~edobefcee, and Ia d~eiaul! thai+eot fbs Mortp~es m~U? pu? ~ ,
~rs; and t~6at 6s wiD pcompf~p ddt~ec ths oA'iaial reoeiph i6ereEoc to ths Ma~ct~ea ,
6. He wil[ peemit~ aommit, or aQar ao waete, iaapairnoea oe det~eeioe~tion ct a~id prop~jr a ~
eoooept rasoo~Ws weas a~nd tear• arid is tbs e~rent ot !hs ~ ot tLs ~do~t~oe to loeep ~b~l~ ~ ~
pcembes ~nd tLoes to be ereat~e~ ao ~a~d pe~o~iees~ ae impro~ts t6eceoa. ~a~~ood repair ort~es m~? ~
mnics a~oh repain w in its dberetioa it mN? deem aeeeeeary iar tbe~prope~ pe~eeer~?~tio~ tba~eo~ sad !6e full amoun0
at auoh and ev~r woh p~ya~e~n! ab~ll bs du6 aad pyrsble tbir_ ti? _(80) d~,y~ attec demonnd, w~ ~6aD bs ~eotiu~ed b~
t6s lieo ot tLis mo~t~a . ~
a 8e wi11 pq all and dn~uLr t6s aoeb, ~a~nd~eocPe'a~e~ ioalud~ re~eooable hw~ee's i ~nd eo~h
aE abdnats at ~itis~ faourred ar pdd at ~ ti~ore
try~ t,h~e Mat~ee beeaurs ot tLs fi3lwre c~ tbsp~ ot tLe
~P~? ~ ~ ~ P~'~
~
11~ba~b '~dus
an~py~W~s a~ad ~
b~s b~t,bs lie~~sno~tp~. .
aorts, ~ ~~b? n°r i
T. He w~D aondnuau~? msiatain bwrd iaau~anoe, vt wah typs or aad aawunta is Mart~ages my
ao ~
. . i~ tims to ~ms req~re, ~ the impro~emenb now ~ La~+e~ttAr on snd exasp0 whmp eat
to:~ all snch premiuaa hn therstofore beecn made' nnder ts oi pae+~gnp ~ will promp ~w'Len ' i
dws . preminm~t t~Lar~eior. All inse~aos ahall bs ~ in companiei appro~ b~ M vrd tbs po~
~as ~ r~ew~ t~~oi aL~ bs beld b~ Mortgagee ~d ba~s ~~c~d iLarsto 1a~~~ ia i~ror v~ •
aad in form acosptsbls Lo t~s M Iaeoent oi bes he wili gi~e ~m~e~ats ~o~ioe b~ msi! to Martg~g~es~
and M m~ m~ajoe p~oofa~~ ii not m~ad~s gmmPt~? b~ Mortgagor~ aad e~ch inaur~s oo~pan~ .
oonoerned~a~ antLori:ed aad dirscted to majc~e p~anenti ior such 10~ firea. to M ~Staad v~ ~ 2
~ to Mortga~or and ~ rt~a~e~ qoia . and the iasuranos ~+ooee~, or un,~ part t~t+e~~my be~
i~,~p
'~ed b~ Iliattr
d ia option ~h~sr ~O tbs ~u~on oi !hs indebtednees ~ eecured ar to t~s reatosavon ar r~~
u'r ct~
~P~P~'~1? d~msg~ed. In e~eat oi foreclosurs a~ tbis mo~, ar otber tran~tee ot titls to frhe ara?rt6:Bed ~
~ pz+~p~ in eo~t3~o~guuhmeat o~ tbe ind~~ted~
•eauir~ed Le~eb~; aIl ri~gh~ titis, +~nd intee~e~ oE Lhs Most~a~oe
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8. He wiU ao` e~ecute or flle of reoord aq~r iastr~menti which impo~ea a reste~ct3oa upon the ~ er ooa~i-
p~9 P~P~Y descn'bed herein on t~he basis of saos, oolar~ ar arescl. .
9. Ii ~he premiees, or any part thereof~ bs oondemned tmde~ the po~ver oi eminen~ domain, oe soquired
~ ~or a publia mie, the~~~ a~rarded, the proceeds for ths~
'ng of, ae~ the oonadecad~u for snab? soquia~ -
~ tion, w the ezteat of the full amount of ths re~n~ining unpaid in~debt~ednees secured by t3~is mrtgage, are
' hereby assigned to the Mortgagee~ and his Leirs or aeeigas, snd s6a11 be paid tbrthwitb to ~aid~M
° or Lis ~ee to be sp~ed on aocount of tha lest matnriag iusLallmmts o! auch indebtnees • pro~i~ded~ o~-
~g ei
aver, the or ee or sssignee, may at his discretion psy ditbct to lh~. Mortga~or, Lis ~eirs or a~sigos
~ any par~ or all
ot~auch swsrd; provided, thst ii LLe loan is gwranteed or insured, the o~nsent oi the guaraa- ~
. tor or inaurer is obtained in a~d~snce of aaid_~
en~.
10. 1Le Mortgagea m~y, s~ any time P~`~'~ • suiL npcn this iao ~?PP~y to tbe oour~ havin~ jur~i~-
m
Lioa thereof for the ~ppoint~neat of s reoe~ver, and wch oourt sball fa~ a~pant a reoei~er oi tbe premiees
oovered bereby all and singular, incinding all aad singular the inoume~ ~n+ofits. ~wes, and rsvenues from wlut-
ever eouroe denved : each u?d every of wrlu it beu'~g ~acPreesly undustoal is berebj ~rtgaged as ii speeificalij
set forth snd descnbed in the ,8ranting ~ hsb~:dum clauses Leraoi: Such appoiatme~?t ~haU be made b~
such eo~rL as aa admi~ted equity aad ~ matter oi sbsolute right t~o said Mortgagee. and without ntereaoe to
th~ adequaey or insdequacy of the value ot the Pi'oP~Y n?ortg~ged or to the sol~encJr ~ inselveaa~ o~ ssi~ _
he
Mo r or tLe detendsnts. Such rents profiLs, ~aoome, iasu~s, and reve~ues dull be ~?pplied by sueh tboeiver
- acoo~r~'ng~ to the lien of tbia mort~a~e an~-tLe prnctice of a~ch oourt. In ths e~ent oi any detaul6 oa tbe part -
of tLe Mortgsgor henunder, the NZortgagor a~rees to paT to the Mo on demand a~ a nawaable monthl~
; reatal for the premiees ~n amount at least eqwvai~ti to one-tw~elf
~h of thea~r~~
te oi tbe tw?elre nwntbl~r
iastallmsnts psyable in the ther? currea6 year plus tbe aatual amoua0 of ths waual taxes, aMee~?ents, wster ~
i rat~es, and insunaoe pra,miums for such year not oo~ered b~ tLe dareuid mont,L1~ Pa7ments.
~ il. In tbs ev~ti ai an~ bresch oi th» awrtgage or default ea tLe part of ths Mortga~or. ae in tbs e~?en~
tLat any ot ssid sums oi mone~ hereia nferred to bs not p~+ompdy and fW17 paid atxordia8 `o tbe t~or be~eoi
; ' or in ths e~e~?t th~t eseh and srery tbe stip
uLtions, agree~eata, eonditians, and ouveamb oi uid note ~
. th~ mort~s~e, ars not d~il3?. P~'omPd7?, wd_faUy partormed or i! tbs Mortgagor bs udjudicated bankr~pt or
, made deiendaat ia s baakruptoy or reoei~er~hip prooeedi~t th~? in eitber a~ an~ sach srm~, tbe ~aid aggre-
~ g~ts sum meationed ia said aote the~r~a~mg uapsid, watL ~ut~s6 aarued to t~at t3nte and ~ll moae1? ~
kcnred hareby s6all beoome dae aad pryab~s iosthwitl~, or thereaicer. tLe opt~? oi ~aid Mort~~ee.~s
iull~ aad oomp~etelj u ii all tbe esid sunms of m~oas~ wers orig~ll~ sti ted to be paid a? sucL d~r. aa~- 1
. tLing~in said note ar in tbis mort{~age to tbs oan~r notiwitbstaadmg; ~tlranupon or tbereaft~, at ths option :1
oi wd M t~~ee.~ wit2wnt noLoe or dsmand, s~ut a~ law er ia equit~. nu?~ be pro~ecuted ~s ii all monevs
. ~ecured hereb~~
~bad matured p~rior to its instiLution. Tbs M nu~ forecloea tLis mortgage. u to tbe ~
amouat so declared due ~ad payabls, ~d the s~id premi~e~ ~hsll~wld ~o ~atirty and p~~ the saiae together ~
with oo~ts e~cpense~, a~ aUowanoe~. In c~ss of partid forscloau+s oi thi~ mortga~ge. tbs ~
~ ~hail be sofd wbject to the oaatinwa~ liea ot th» mortga$s for ths sarouat oi tLe debt~ no` thaa u~ ~
In such ca~s ths p~o~ of tLis pat~caP~ ma7 ag~n bs a~aZed oi thereaftRe irom tiiae to tim~s by ths
~
1~2
No .rsirre~ oi .a~ oo.eaant lrerein ae ot tbs ob]ig~ati~oa .ecnred hrreby ~6all aL any. tinae thereatcer be
hdd to be a wuirer oi the tera~s hes+eoi ae ot tbe note sec~ued herebl. ~ :
13. The liea oi t~his in~trumeaL ai~aD rsmsin in fuD fa+oe a~d effect durins ~n7 postponea?eat oe extension -
ot =he tia~e oi paymeat of tLs indebtedaas e~ ~n~ p~rt thsraot ~ecured L~reb~. : -
14. ~1'h» ~gs ~~s givea to ~eevrs ths pureha~smoae~
, o~r a part tbe~eoi, d tbe lau~ds hereia deKrlbed
and is asecutedII~~~~ ddivered oonte~npm~aneoua~j with the deed tLerefar.
i b. It ths Mortga~o~ det~wlt ~n an~ ~ t~s o~~enaata a ag~em~ts oo~?ta~d h~a, a in aid nate, d~ea _
tLs Mor~ages m~~ pertarm tbe wne, and ~Il ~peaditmYS~iaclnding reason~b~e ~t~orae~'~ iees) made bT tLe
M gag~es in ~o d~ ~all ds~w iate~est sL iLe nt~e pro f8r im t~a principal ~debt~n~s~ and sh~ll be.
rspa~~?,~a~s tbirt7 (30) 3~~ys after d~naad. and. t~oget~hee with iatAre~t aad oost~ ~ocrsed tbee+eoo, ~hhall ba ~ecured -
~ i. Up
~on~ rsquest at tbs M rt~a~e,s tLs Mort~goe ~u11 e~oeaut~s and ddivae a rap~plea~e~at~al note vr. ,
aotes~a ths am ce wmas ~d~aaoedl~-tbs Mat~.ges for tLa dt~atiost,-nsoda~nisatioo~ imprc•emeat, main- '
; teoanoa, oe rapair of iaid premuisea, fae tauoes or u~a~t~ aesiast the wn~s aAd !or sa~ otber purpas wtLgr~ ~
~ ised bereander. 8~d nots or n~ot~es sLalt be ~eau+ed Ler~bZ oa • p~an~t~ wltL ~nd as fa~y ~s ii tLs ad~aeos
etidenoed tbee+eby wee+s inclnded 'm tLe n~oLs Srd dacribed abo~s. 8aid snppkmeatal note or. aot~es sbatl beas ~
. ~
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