HomeMy WebLinkAbout0866 _
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the deflcle~. $uobp~m
ent shaU be made wit~hin tLir~~ (3t days ~tter wriLt~en ~Lics irom ths Mort~ages ;
~taLias the amounti oi tbe deRoiaaa~~ which oot~ae myr b4 ~vea b mail. Ii st time the Mortg~gor F
~h~)1 tendee to the Mortg~gee in aooordwoe ~ith ths proviaon~ ~tbe note ~~herab~~ full pyment: ~
of ths entirs indebt,eds?as rspreseated t~6ereby, the Martg~ges as trustes shall. ia aomput~ing ths amoun~ ot
auc6 indebtednees, credlti t~o ths a~oouat oi the Mor~gs~oc s~ credit balsnos uader the provi~ions '
oi ~i a?idp~r~gr~pL 9. It t~Lers sh~ll be s dei~?uI~ under an~ oi ths proviaio~ mo~~~ rasulting t
in a public aae oi t~he premioes oove~red hereby, or ii ihe M acqwres the propet~~ otli-irwiss aitee~ :
default, ths MoKgages ~s t~vstee s6a11 ~Pply~ aL the Linae o~mzaencemen0 ot such proceediags or s~ t
the tune the propert~ is ot6a~ri~s Roquired. t~he amount then rem~ining to credlt of Mortgagor under (a~~ ;
' pare~rsph Z preoeding us s crediti on the intsrast socured snd anp~id and ths baLacs ~o the princip~?1 ,
remaming unpaid on ssid notA. . .
4. He wt~ pyr ~Il ta~oee~ aaee~oe~t~s. wst~ rates„ a~d ot6ee~o~re:ament~al ae~ munt~ip~l o~~e~„ os ;
impaitba~. !ae wbioh p~doa has ao! b~ea m~is Lerelabetoe~s, and in detwlt thereof ths Moitp~ee mq Pyp tbe ;
~ s~m~s; aad tLati hs w~ll prompt~jr deit~rer tbs o~cial reoetpb tbe`+efoe~ to ttis D[o=t~ee. ~ ~
tia
. ~ He wlll permi~. aommit, a«~ae ao w~e. impaitme~ ae det~iocatic~n ot e~id penpearWr a t,h~eot
mocept rearooabls we~r and t~eat• aad ia tbs a~vea~ aE tbs ~ ct ths M to keep tLs on eat~
p~+emi~es ~nd tbo~e to bs a a c
e a
t,
e~ ani~
i d v~'~,~E'~ ~ and t~,h~s
i~
~~ind
~ weh p~Uraaent ~II be~dus ~ad
p,y~sbfe tbt~j (~o) d~n
~~daaan~, aac~ ebsil bs ~ecured by
t6s ~ ot this n~oc~e. i ~
6~. He will pyr all and in6uLr t~s ooed, ~and eo~eo~ee, iacindias reaeom~bie bw~ra~'s fee~ a~ad oosta . s~ i',
• ai ~ ot tiLla iaourred ae paid st aqy t3me
tnr t~e 1~doctg~es bea?vee of the G~ilure on the pae~ of the M ~
, prompf~jr and y~? to p~form l~rs ~~reamaenb and oova~nts cf raid pramieeory not~e sad this s
, aort,~, ohu~ea, fand e~peosea sh~ll be i~nmediat~a~ dne ~nd pyrabk and eball bs eec~u+ed by tbe liea~~mort~a. _
7. Hs wiD oo~~om~? maiat~in b~st?rd iainu~anoe, ot wah tr~ps or~pes and amounts as Mortg+~8'~ nMT ~
ere ee
! llrom t3ms to timo~e rsq~irs, on tbe imporovem~en~ now a~ Lere~ft~ee on aid - ' aad excepL whan p~yment .
to~ all snch preminms h~s theretofors been made unde~ _(s) oi pangca,~h hee+eoi a~l p~y promp r?han , ~
dns aq~ pa+eaniwms thereta~. AII insuraaos ahall bs ~~is
at~t~re~t
~las~ Mar~g~~and~ pol~- ` .
~ ~ ~ ~ ~ ~ ~ b~ ~~r~gages m f~~or ot
and ia form a~oosp~sbl~s to ths M In srenti a~ bes he w~l ~ive i~na~edi~?tis no ' b~r,mdl to Martgages,
~?nd M m~,T mstis proorfA~~ ii not made p~o~ptd~ b~ Mortgago~r aad ea.Qh imrusaaas oomp~?q~r
aonoerned ~s su~i~d and ~ed to ma~s p~mes for sach 1oe~ d~rec. to M instead o~
to Mart~~gos and ortgagesjoint~?~ and t~he iasuran~os prooeeds, ar at~ par~ ~mw bs
a~ b~ I~iorw
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pro~~ in ~t of t~h~ indebtsdnee~ ~eaured Lers~b7, ~~ti, ~0. ~ int~a~+eet oi tbe Mortga~ar ;
• in aa~d ~o a~ insuran~os.pali~e~ t~Len in foros ~haU pas t~o tbs pnroLa~ee c~ ~rantee.
8. He will not eacecnte or ffia of racord sa~ imtrnmea~t whiah impaes ~ reatrictioa upon the ale or oocu- ,
p~na7 at the P~P~7 d~xibed Le~eia on tbe bas~s oi sscs, oolor~ ac creed. .
~ 9. Ii ths premiees, or any psr~ thereof, be oondaonned undee tLe power of e~minent domaia, ae soquired
~ for s public use, tLe ~ a~varded~ the proceeds tor tha ~ of, aa~ t~e oonaiderati~oa for saah aoquiar
. taon, to the euten~ of the ull amovnt oi the ransiaing, nnpaid ' ebtiednees secured by this mo~t~age, are
• he~reby asaigned to the biortgagee~ snd bis Leirs or aeeigns, snd shall bs psid forthwith to said M~r-t~agee
is
i . or his ee to be app
U:ed on aooouat of the lasti matnring instellmenta of e u
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saidt if the~la~a is guaranteed ac insiusd, the oonsent Qf the guaran-
i • to the oourt lu?~ing iuri'di~-
10. Tha Mortgagae ai~?y, st~ tmne pea • smt ~ t~ app17,
~ dpn thereoi for the appointanent of a reoe~~er~ sad such oom~t a6a11
in~c~t~? appomt s reoeiver ot ths premises
~ covered hereby all and singul~r~ including all and singular the u?aome, P~+oRt~. i~sues. aad rs~eaua froa~,.vh~t- ~
; eva~ soiuoe darived .each and every of wlu it~~ eup~reeelj und~atood is he~ebT mortg~g~ed as ii sperafically
set fosth and dascnbed ia the granting ~ Lsbea~um clama bereof. ~nch appointanen~ shaU ba made by -
such court a~s an ~dmitted equi~y and s matter ot sbsolute right t~o s:id Mortgagee, and witbout reieceace to
. ' the adeqway or inade wa~ of the value of tLe P~P~Y ~rt6+~8~ or to the solven~ or iaeolvcaay ot said
qw
M r or tbe defeadants. Such renta, pmfita, inoume, ~seues, ~nd reveaues ah~ll be upptied by such reoeiver
scco~
r~'mg to tbe lien oi thia anortgage and the practioe of wc6 oourt. In tLe event of any detanlt oa the psr~
: of the Mort{~~r heraundar~ ~e Mortgag~or a~rees ta pay to the M on demaad ~s rasonable monthlv
' rental for tbe premises aa ~uat~st least equi~alent to one-t~relfth of thes~a
te of tba tr?elve moatbl~
installmeab poyable ia the thea cumnt yeat plas tLe a~ctval amount oi tbe annual taxes, seeeaements, rrater
ntes, and insnranee premiums ior sucb year noti oe~ered b~ the aforessid montblY PsY~~
ii. In the e~mt of an~ bnach of this mortgage or dstanit on tLe part of tLe Mortgsgor, a~ in ths eve~t
E ~ tLat aay oi said suau oi money bereia reterred to be noL prompdy and tu117 Paid ~ooordm8 Lo the teaor hereoi
~ ~ e~ ia the e~ati that eac~? and everp tbe stip
~ilati~s, ag~reemea?t;sl oanditians, and oa~anh at said nota an~
~ ~ thn ~~age, are not dulY~ P~'~P~7. aad tullT pertormed or n the Mortgagar bs adjudicated baakrupt or
' made
dn
eteadant in s baakrapt,ay o~ seoei~esshiF Psooeeding~; t~? ia. ut~r v~ at~y sucL sve~t~ the uid aggre-
~ ~ gata suat mentioned in eaid note t~ea?rem~n~ng unpaid. with iat~resti ~ocrued to that and all moaey
~ ; secured heseby ahsll beoome dua ~ad psyable far~wiLh, or ~ter, at the opEion o~ biortgagee. as
~ , ~ fully and oomp~etely as if all the ssid sums ot moaey wara origiaall~ aLipuluted to be pud oa such d~~, an~
~ ~ tbing~in eaid note or m this mortgage to the oontrarx aotRitbstan~d'mg: aad th~+eupon or tlunafter, st tbe option
' of sud Mo agee, without notioe or demmd, auit st lsw or ia equit~, m~y be proeecut~ed as it all monevs
~ j eecured hereb~
y h~d matured prior to its institution. T6e Mo ma~• tonclose this mortgage, as to tbe
~ ~?ount so declared due aad paysble, and tLe ssid premises ah~U~ld ~o sstisfy snd p?T the same tog~ether
~ with uosts eupensa, and allowraaces. Ia caee oi partisl fonclosure of tbis anortgage, tbe mo~tgag~ei premisea
ahall be so~d subject to the ooa~tinuiag liea oi fl~s mortga~s !a~ ths amounti of tbe deb6 not tb~a due sAd unpsid.
~ . In such cass the pro~sions of tLis para~rapL may aga~a be s~ai'ted oi t~fter ir~m time ta time by ths
F : . ' . . . . - .
. V
; Aa 1Z. No wa~~r of a~ ao~ea~at ~t+ein c~ at tbe obligat3an ~ecured hereb~ stu~ll at ~n~ tdme t~iter ~ ,
~ held ~o be a wraiver oi tbe teams h~+eoi or oi tbe note ~ecured Lereby.
~ ~3. The lie~ oi this iastr~me~at shall rsauin in full foroe aad e8eat dwin8 ~7 P~Ponemeat or e~ctemion
~ oi tbs time ot p~~ment oi tbe indebt~edt~ees a~r any part thee±eof ieow+edt hesabp.
~ 14. This ~age ~is gina to ~ecura tLs purcha~s mflne~, or ~ par0 theceof, of tbs liads herein de~eribe~
~ and ia esecuted~~uu! deji~ered oont,emgoraneo~nly w~tb tLs deed therefa~.
1 b. Ii i~e Mortgag~ar default in an~ of tbe ooveoaab ac agree~neats eo~t~ia~ed berein, ae in aid note, t~
~ " tbe Mortg~s mi?~ gertorm tLe same, and ~II aspe~ditqres_ _induding ra~sonabk a~torae~'~ i~es) made b~ tlfi
~ M gag~ea m~o do~'ng ehaU draw int,a~e~st at tbe nts p~ovided ioe in the princapal ind~btednc~s, ~nd t~h~U bq
~ ~ repa~~~ thirh (30) daT atter de~and~ and, togetLee with iat,erest ~d oosta aoccued t~eoa, s1uU bs ~ecurea
~ ` ~ 18, ~p~ontbs reqaes~ oi tLs M ~a~s ~3rs Ma~tga~or ~aIl ezewts aad ddi~ee s snppl~nental note ar
,1 a~tes iee ths sam a~ sams ad~snoed
lry tfie Mo:t~agee to: ths ~lteratioa, modecniudo~, imPe'~~aaent, mainr-
t,ena~cs, vr rspair of ssic~ premi~, fo~ t~ses or aMe~meats ~~a was aad for aq~ otha purpo~e wtlnor-
ised Sdd not~e or not~ sball ba ~ecus+ed on a pari with and u folly a ii tt~e ad~~aos
s~de~oed tLersb~ we~ iad~rded in tbe note 5r~ de~csibsd~~. ~~emeatal n~ote a not~ ~L~ll bai
, ~ ~ ~M.
~ ~ ' ~o: ~ ~3~ ~ f w:
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