HomeMy WebLinkAbout0719 . t ~ ~ .
. ~ ~
a vnt~ ar+~::~. ~ ebe p«~«a~aos cf tb. oo~eoaab .na .~~eemaot~ of tlia n~«tp~a, tb.mo~~ ,b.u be a?tWe~t
to oalbct tlis renb. i~a~e~ iu~d~~ tmm d~s pe~emiret becainbefa+s d~aceibed. bnt iu a~s o[ • dahu~h~ ar~? oE tbe ~enar ~
tWr ~noKtpge~ ~md d~s of a ~ill tio fareclae tLV ve~n~r othae mact~s aaananber6~ tt~ wlthiA de~lbed pro~ec~j?. tLe
Anor4t~on sA~11 and v~ aotios be aa~lsd ~ tbs ~ppoinmxnt oE a Reoetv~er vf d~e ~moet,~gedp~ope~t , and ~
oE ttis nab~ i~ier aad tberso~ ~r~? tbs ~swl~owet cf Reoeivan ~ snob cs~e~„ ~ad a~ch Reoeiver mty bs con~tfnued
ta po~oa af tbs a!d p~o~y natn tbe thae oE tbe als t~eof midar a~cb fa~ecloswce, and ~mtii tLe oo~atloa of such
sale by the Oourt. ~
9. If a oonv~yanoe :AouW be aisdsy~r tbs mort~agr~es oE da pr+ea~iroi berain de~arlbed. a~ayp~t thaeo~ witlaut ~
the v+?rittea oooses~t of tbs AaxLtioa, aad wk6ont auuunpHan in ieg~lar fa~aa of law by tbs ~tan~ss af tbe oWigptfo~s to tbe
A~sociatioa created by_ s~W piroont~o~y Aote aad th~ mort tbeq ~ad in thst avaat, u~d ~t t6s option of the A:socLtion.
s
aad without noHoe~ aU sums oE awnry ~ec~ued ha~eby i~aedi~tely ~ad i~oc~reotlp with suoh ooaveyaooe beoome due u?d
PaYable aad tn dehatc. Tbs Aaoc~ntloa a~ar ded with suooasors in iotes+eat rvttb refe~+eaoe bo d~s a~a~tpSe aad tLs debt~~~red ~
sec~uea ia t6e s~ms manaa~ ~.vt~ tL~? ~.go~, ana m.y fabeu to sue or m.y ;~aa e~ne fac p.y~ac of t~e aebt,
her~by, ac oche~vvjse act without discWu-'---- w~ any way a~ectlns ths ltabiNtp af t6s mo~tgagaa here~u?dae ar upon tbs debt i
a~de~l w~h the M ~
her~by sec~irr~. Zbe AswciaHon may oitgag~oe~r ~odla~ whb wooes~o~ 3n iMere~t witb re[eretioe to tbb ~
O i~ Lb0 bk~+l~lOCllrOtl ~ w Q=~ ~f0 ~ ECt ~~/IDQ~t ~ ~10 ~ ~g f0!' ~ODEDt • f
, n~~ P~Yme~?b and/a a t f~ta~t nte, and_ by_ otl~ azpras nwdi8a~tioo~ oE tLe eoatract, without anY Pr~h'
t6e A~oclation l~ mra otbee matgagee~ or Hena~s a boldas of aay ~ior in~sts in the gope:ty ~enued b~r.
10. T1~at ia•t~e ev~eat the prembes heseby ~r a~~aged, or aay paet tlra~eof, s6~ll bs ooodeanned and tak~ farpu
blia use
f unckr d~e powrx oE ~t damain, the As~oclation av bavs tbe st~6t to demaud that ~II damaga aw~rded fa tbe Wdng of a~
damagrs to s~fd p~esnises sbsA be paid to the Assodatjo~, iu wooes~ors oar a~n; np to tl~e amount mpaid oa thi~ a~o~t~ge and
~ m*Y be applied upaia the P~yma~t ac Paymeab Lst PryuWe tl~eon• .
! 11. It is spedfia~Dy sg~need t6at tlms b tbe essence oE this oontcad and t6at no waiver of aay obii~ation beroimdat oe ef
. the obli~ation ~ued Leceby sbalt at u?y t~me tLa~eafter be l~aid to be a~va~er af tbe tarm~ a of tbe imeuanent ~ee~red 2~eceby.
~g. ~ f«~~ ~ ~ ~,a ~e ~,~a e~c a~a a.nr ~ ~.~y ~ma a~o~a ~ ~m~.
~a, ~ m.~ .t ~ ~ca~?'
a a~ a~ ~~.oa ~ ~ ~a a~ - _
.na ~y.we. . _ -
~s. To a~ ~ ~ a~ ~ ~ ~ ~ ~ ~ ~.r~ ae.~a a .~a r~
datlaa b ba~eby sube+ogated to t6e liea a lie~ and to~~
b~ d~e o~wna~s aad Loide~ tbereof oE acb uida~r~ ~noet~age, ~
l~n a othar eueimabranoe oQ die Lnd dexxibed Lee~da whieh is paid ~nd(oc) s~thf~ea, in whok'ac tn part, o~ of ths
, of che loan deacritbed lrerein or sectu~ed ~~eby~ an~d tbe respecti~re l3ans af ~d ~ao~tSageR Len: ~ d~er enc+~abcanoes, - : v;
to s
n
d b e h e
l
d b
y t
h
e A
s
s o c
L~tion b
e r
e i
a u seemi f
a~ t
h
e i d e
b
t
e d
c~ a to d~
e A~odatiou ~
e t
a d
e s c
r
t
b e d ae b a o
e
b
y s e a
u
e~ ~
= t6e same eY:ant that k wouW hssve beea r+e~nne~ aad would h~vie bew gassed ~o aud beeo beld ths Aaodstion 2utd it beea . `
3 a~? ~ =~s==~=~r ~.~a. ~c ~.Aa aa~~?~a ~c~ c~e =
~ a~ ~x ~.c a~ ~ ~~a ~,a ~a ~ ~a~, ~ ab ~
~'~`a~ ~
d~.c c~
~
s r ~s ~ ~
be as~1 ana cai,oeued af reoord by tbe hotde~s t1,~ereoE at ar abont tha tlme of tbe ~+eooe~ af dds aaoctga~a-
i~. ~ ~y :n ~a ~ ~ a~sa, ~ ~ u~= ~ ~a a ~a ~y -
a~~?~~.~,~.~~c~t~~~a~~~~~,~y~a,.Qa~'~~.ua~y~.. .
tioos~ agreea~ents, ronaitioo: and coven~aa of sata prozni~so~y nae ana tl~is aeea, or eit~, aad ev~ay? sud, p.yaneac ~au bair
inc~ ho~, a.ce at cbe r.ce sat«1 in tbe noee sec„~+ed hereby. •
15. Tbat be vvlIl co~nmic, a~ wffe~ no rva~e, impa~, a~ deterioe~tlaa af saW peq~ecty ar any p~t thereof;
and in tLe c~rent of d~e ~~ef tbe Mat~
g~s to keap tl~e b~ildings aa s~idp~e~ ~nd thaa to be~ aca.~~ed en said premises,
oe imp:o~nmts tbereo~ in good rapair. tbe Assoehtion msy make aad pay fo~ snc~ at in ib disaetiou it may deem -
neassary fac tbe pmper Hon tbereof, and tbe full amount of ineh paym~nb ~a1l~seeur~ed tbe $eo af tbis mactg~a8e
, ~a ~n ~c ~ ~°~'is~~ t~ ~af.~? a~ ~a a r.~ ~,ct~?~~d,~ a~
; c~~;?a~,~a~?~?~~y~,c~~~~~,a,~c~a~~a~amab~~a~y. -
~ 16. That if tbe Association and tl~e Matgagors age~eey tbe ~ortgag~ wID e~tty a pdier ar polid~ of ias~uanoe npon r-~,
, their lives in an aul~ennt eq~ml hom time ta tLne ~ the amonnt of ~idebtednas haebysee~e~ mak~ag ~aid AssocisNon benefi-
c~ary the~unckr, sud that tbe apld ~ssuciatioa msypay tl~e premiu~-~suc~ i~eagaoe (tn tbe eveat tbe Mat$agers do not). 1
and add each s~ch I~Yment to the wpaic2 b~Lnoe af tLe loan, as'of tbe ffist day of the tben c~arant ~ont~ aad it sball beoome F. ~
~ additional imdebtedness se~+ned by tbis mortga8~ P~Yi~
. 17. Tbat in the event that this mo~tgage be g~?en tio sec+are. a. co~trudion baq bIIm+e ao tbe part aE the Martgagas oe
the~r coatraceors to co~np~te said bu~ding in aooo~danoe wtth Go~tnretion Loaa Ag~roana~et, ef ev~ea d~te herawith, or ta build
said construction in aooordanoe wlth plsns and spec~fioations filed witb tbe Asaodatloa, sbaII oo~ituee a breach of this mortg,~ge,
and, at the opcion of tbe As~ocls~ ~mmedistely msture tbe entfre amo~mt of pcincippl aad ia~+est berebg? sec~a~ed and the A:so- -
'ciat;on may immediately f~tituee pcoceeding~ to toc~ecloee thb mortgaga _ -
_ 18. Zbat the abstraM ar abst~ds af t~de aov~ering the mortg,sged pt~ope~iy t~all at all t~ dming tbe life af this mat-
gage; remaia in tbe posse~ion of the A~Hoa and ia tbe evant af the foredo~a~e oE t~fs or othar tiar~fec of tlda ~o ~ -
tbe mactg4ged pe+opaty? fn e~tiage~sbmeat a£ the indebtednms sec~u~ed bQrehy. aIl ~ tfda;~terest af the M~gagass in
aad to any sudi abstracts of tide shaIl p~ss tio the p~n~d~ or g~ranbea .
19. The A:soclation sbaD bav~e tLe :ig~st, in its discretioo, to requLe tLat tbe Maet~o~s pay inM die A~noctatlon in addi- ~ t
tion to tbe montbly in:tallmenb af prindpal and interest to be pAid by t~e M~ ~ tbe mbe sec~n~ed by ~b matgnge, .
an amo7mt equal•to ono-tw~elfti, af the anaual indallmentr oE any mus oa tbe ged prea~t'er kvied or ~welsed ~!ry any =
' ~w
oveinronental a , and,~~o~+-tvvalEth ~ tLe Annwl
~tbis ~u~~ ~ ~ ~ faikn~e to m~loe~so~
~
~ conttitnte
a~defi?dt -
. ~S~Be- -
WHEREOF, tbe said Matg~gas be~eunm set t~etr bands and ~erb die dap sad y~ear Bnt ~[bv+~e wRitte,~.
~
,
S~red, fn tbe of:
~ r
- ~ , ~ ~ (~L)
- . C C. Killer • • -
. . . ~
. . ~ - (s~.)
~ Eula P. Kilier •
• _1.
. . • . . . T'~""_..~.~`~...'~~"~" W /
~ , "
J
~ ~ ~o~K 89 P~~18
. - . , ~
.
.