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HomeMy WebLinkAbout2279 •r•.i~~. . . . ~•sr ~ . s . . I.. ~ a,....-....... . . a~~~n~ir+wiii~ . ~~~.~~.r - - ~ '~~M~r . . ~ , . ..~.'~'.a,y -~,/tt,M~;z- . ~ ~ ~ o ,o , . ~ ' . - ~ ' ~ U~ • : : i _ ~ ~ ~ ~ ~ ~ "b~ m ~ ~ ' w+r mo~t~ .od t~s aEa biA bo lo.~eotc.e ~r a~a~? abe~ mae~yp.~e anomnbai~ tb. ~ ae.a~ea pn~pacty, ebe A~rooi~tbs ~9 und ~ri~aat nottos bs aat~ded ~o tbs oE ~ Reoeiv~e of tbe lmaet~ed ~~I - ; of ths rmtti Lwet imd the~eo~ ~~1th d~s mnalp~ro~ aE is ao~ cs~e~, sod wcb Raoai~roc is poaa~doa of d?e said peop~ety mtII d~e tlros of die sals tbe~eof nexler ~~oL fo~elorue+a and v~dl tLe ~tioa~ sak b~? t6e Oou~ - . ' 9~ IE • veya~os ~odd bs m~de~t6s mo~eg,sgas ciE tbs premi~e~ l~edn aasaib«l, a aa ~ w+it6out ' tbe wrytEea co~t~ af tDe Associatioa; aud ~auungpt~oa ia ~Ms fa~ of Iaw tbe Associatioa crea~edby said praatuoty ~ro~e ~ud this th~. ~rrci in tl~et eve ~and option of~ Amociation, ~ and vrkho~~t rwtioe~ a]! wa~ af a~aey sec~~~red berebgra ~~~p~tel~? ru~d aoaamently wHL wch ~aavayanoe beooene du~e ~ad ~ ' p~yabb and 1n detiuh. 1'~s Aaoclatian may dal w~lt suooe~ors in in~t arl~ refes~eoos tio tl~ mo~age and tLe debt , seeue~ed in tbe san~e mwnee;t wDd~ tbe matg,~~oa, and mav fa6ear to sue o~ may eu~eod tip4e fa paywa~t af tbe deb~,~~ ; ~ bereby. ac otl~arbs act wltho~t ae in any w~y afkcting d,e }lab~? af dis mo~agas haraimcia~ a upon da debt be~+ebq seamd. 1lis As~oc3*tlon ma~de~l ~h tLs Ir[o~tga,~oes aad/ar wtth s~~ooessoa ~ interest w~h ratacaeos ~o tbb j a~d t6e debt Laro~ b~? fo~be~rln8 to sue. ~tead~og ths time far P~Y~ P~S far dtfEereat ~~~P~Y~ ~1or : ia~+at rats. aad_ bp otl~ espews modlBa~tlo~~ of tbe ooutrac~ wltbout a»y Pdorih' tbe A~oei~Nan Iw anar ather mortgagieet ar }ieoori ee bokkra of any f unior ~ ia t!~ pcaperty sa~~u~ed b~jr. ~ 1Q TlMt ia d~s event tbe prcmi~es benhy a~~~a,ged~ or aay pa~t thee~eof, d~aU bs ooode~ned aad hioen farpob~o u:s ~ ~ unde= tbs povMer af amb~e~nt domain. ths As~oeiatio~ ~II b~ve tl~s rtght ta demand tL~R aII damages avrarded foc tbe hldog of oc ; damageu to ~id pe~emi~e~ s1aD bs paid t~ the A~ochtioo, ib a~ooae~o~s a~ig~na, np to ti~e amount wrpaid on tha mort~g~e uid ~ ' aa'Y 6s xPpiied apoa tbe PaYme~t ar P~yaaeats L~t ExyaWs tt~eo~. , i lI. It it spec38oally ag~+eed dat tiwe it We asen~e af thi~ oods~ct aad tl~et oo w~tver of any oblt~tioa Le~e~a~dac ar aE ~ ~ ~a ~.n u w~ ~ ~ ~a ~ ~ ~a~ c~. ab ~c ~a . : ; 14, If fo~eeloan~ p~ooee~ oE .u~? ,eoo~,an~o:tg~~e a seooaa tcmt aeea ae ~ioe xe~ of .u~?'kma a6onla be m~ti. ~ ~ tbe A~oci~tloa m~y at ~ option, u~~ly o~ t-1iec~eaPoe~ decLrs thh ~gs ~nd die ~ckbt~e~ar secue~d I~a+eby dns ~ . ; 19. 1b t6e mctent af tbe L~ aE tbs l~d to dis Assoc~atioa deatlbed Lerei~? ar sec~red bee~eby, the Aao-' 'i ~ t d~~t~na i~ beroby ~nb~ted tia tLe ba~ ar lkos ~md to t~e r~b ef tLs o~wne:s ~nd baidea d~nof aE e~ch and~~ ; Bas or aRh~ encmibeanos aa d~e ~and da~r~ed he~Mu whk6 is pdd wd(a) ~fied, b wbale oa ia pat, ont af tbs p~ Y af d~s lo~ua de~aihed bemin o~ ~eeo~~ed ber~p. aad tLe re~ective lkns af sJd moKg~ NeQ~ a: other encumbn~noer, s~D ~ ea ~a~d ba heid br tbe Asaoe~tioo bee~etn a~ p~? fo~ t6s ~ to the A~ocintion La+an dacribed ac ba+e6gr sec~e~ - d~e s~m~e e~ent tMt k w~ouid Lav~s been pn~e~vac~ and w~eu~d bave beed pa~ad to aad been Lddy~ tLe A~odstloa Lsd ~t beea ~ ' ~ i'e6~Y set o~ and deilve~+ed m~to the Amociatioa 6p sepuace dee~ af a~no~aat, aotwi~nc~. i inE d~s fact d~t tbe anoe m~y bs ~ed uid awoeHed af reooed,-~t~b~ng the ioteaNon af tbe pirtks bee~et~ tl~t ths ams wID- - be s~~Eied aAd wnoeiled of reooed by tbs bokie~s t~e~+eoE d oc aba~t the time of tLe neooc~ding aE th~ mo~a ~ 24. To pay aA aad singuLur the oostr~ cl~uga~ ind ~peo~s ~S 1~vn,ye~= feer, ~ot~red a paid at aay = m~ u~? ~ ~ a~ r.n~ ~ ~ M«~.~. eo ~ ~ .oa"~, ~ ~a ~?«y ; ~ ~ .Aa ~,.Aa ~ ~a-~.~? ~ ~a c~ a~a, a ,~a ~.y~,~ ~.n ~ . - , r~.c a~ u ~ ~c~,~a ~ a,~ ra~ ~a ~ a ~ m ~ ~ a~,~e~ ~ ~a ~cy a ~ ~ .~a~~~c~~~~~~c~t~a~m~~~~a,~a ,~a~ro~~a~~a~, a imp~o~eab ~a~on m gooa r~tr, ths A~o~.tion mar make .na p.y a~rep~~s a~ m fb a~ion it ma~? aeem . ~ faar d,e p~~er tha~eo~ aad d~e full amonat of web puya~ts shaDbe ~ecured tbe ljan of tI~M ma~t~ge - ~M ~ ~ t a~ ~ ~ ~ ~ ~a~,? a~ ma ~r~ a r~r.bte ~ ~r~c~..~ a~ e~~ra~,~,a~?~?~~.r~ca~.n~~~a.a.c~~~amab~~aa~?, . . j 18. Tf~u if a~e A~o~ioa .na tbs Ma~t~agas .gFee, u+e M«tg~ w~ c~p . Po~ay o~ Po~. af ~noe apoa ; a~ ~ ~ ~ e~ c~ ~ ~ a~.~r ~ ~a~ b«~y ,~a. ~ ~.sa ~ ~a- ~ ,~,a a~ a,~ ~a ~c~? ~ ~ ~ ~ ~ ~,c ~ ~«c~~ ao ~~~a' ~~'"~c~ ~ b.~, u ~ a~ ~ an? ~ ~ a~„ ~c ~,a ~ ~ t~ ~n?~~~ r~?r+~ ~ ~ _ _ _ 17. Tl~t in tbs e~ent d~at this moetgage be ~ven tio seaa~e a conshudioa Ioaq fai~a~e an tbe pai! of the Mortgagan ar - s~id oon~uction b aooo~ed~noe v~h~ ~°ooordanoe w8h Dowtivctlon Loan Ag~reaa~~ af ev~n date ba+ewkb, oc to buiid plara and spa3$oatioas Bled witb tLe Assoc3atioa, ~aII oo~tftute a lx~aach af tMs moctg~ge, . and, at tbe optim of tbe As~oeiation, ~ommediately matm+e ths ~tire amamt of pci~ai aad intarat heceby seaa~ed aad tLe A~so- ~Y ~ P~°~ ~ Eoaec]o~e tbis matgaga. ; 18. Tbat die ab~net ae abat~tct= oE tlde oo~verlag tbe ~o~tg,~ged pi+opett,~ sbaIl at aIl times, d~aing d~s life af d~is most- 4 ~*~~t~r ~s~~~~~~a r~~a~~~a~a~~~~ ~ ,~a ~ ~ ~ a~ ~.n ~ ~ ~ a ~t ~cta ,~a ~~c ~ ~ ~c«e~~ Z9. Tbe A~o~cion s~ luve t~s ~ ia its at,cx~Woo, to iequ~e amt rbe Mort&s~ P~r ~~~aon in .dat- tloo ~ the mmthly i~oeab o~ prir~pal nnd iata~ to be paid ~j? the Martgpgne~ tinda: the nota u~a~ed bry? tbb moetgp~0. au ~uno~t equal'tio ene~tw~lftL of tbe annml i~IIa~eots af any ta~ces an die~a:~a ged pcemises kvfed o~ aisessed byr prmn~be~n~bef~ane~ requi~+e~tbe ~Assn~da~ and~ far Fiice~ Erta~tcl CoMaage ~ ou tLe aw~ . at~agas pi?ymeii co~tftu~e a definlt ~a~dar t~ matt~a~e • . - 1N WITNSSS ~EREOF, tbe said Moctgagas haeu~to set their hw~ds and sab tbe day aad year &~t aboMe vvr~ta~. • ,-'L_ y-' L=L- ~j - 4 ~ ~ ~ W7Y~W W ~R ~ {1~~ . ~ ~ s ~ . - ~ - ' _ - ~ " ~ _ , . ...a . ~ . Del . . xicho ~ ~ ~ ~ # ~ ce 'Nichole ~ _ ~ • - : csgw~ . ; - ~ , ~ - ~ ~ . 4 , . ""~~~fW' ~ ~ . . + ` ~ • ~ • j - ~ . . . - . ; - S~~ ~479 ; , . . . . . --.~1.- _ _ - - -