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Home My WebLink About0497 , ~ c ~ ~ . . , . ~ . a ~ow a~.~c ~ ~ ~ ~ c~ ~a .~a .~u ~ ~ ~a ~ ~ ~.n ~ ~aava ~ ~ eo ~u~c c~ ~c~ .aa~w ~ ~ ~ a~~a, ~c ~ ~ . a~.~ m ,~r ~ ~ ~ ~ ~ thh mat~agq, wc1 t1~s • bill t~ foc~eclose thb a a~np ot}?ar ma~tgage eac~mbaring tbs within de~cribed prop«ty, tbe As~oclatioa :hall IniwedL ~ad wlthout ~ be an4tbd to tbe ~ppoiatmeAt of a Reoelv~er oE tbe ~awctgagedp~ty. ~ad ~w j v rs of ths reah, issues and ib tberoof, with tbe ~al wes of Aeoeivers !n such ca~as. aad such Recetva may ~e-oaitinued j ia po~iaa af d,e said prop~y unti? tbe time of the the~cof unda suc6 fo~loa~a, ~ad uatil the oonfirmatIa~ of such ~ sok by the. CouK. ~ 9. lf a conv~yauce should be made by the mottgagas of the preanisos heretn deaaibed, or aay part thereof, without ; the writtea consent of the Associatia?, and without atsumption ia regulsr form af law by the gnatee of tTie obltg,ations ~o tbe ~ Asv~clotion crented b said pramis~ay note and tlds mo~t age, then, and 'w th~t e~vent, and at t6e option of the AssociaNon, ~ e n nad ~vithout notice, 1 sums of mcr~ev secured hereby taamediately and concurrentlrr with :uch ecmveyaace booome due and P~?Yabk aad ia defanh. 1'M Au~datim awy deal wtth suooessors ia iaterest with refere~ce to this mo~rigage and tbe debt Lereby ~ secured ia the sa~ne a~aaarr as with tbe nwrtgagors. and may forbear to sue or awy extead ttme Eor pay~nent of the debt~ secured ` 1~ereby, or otherwise act witbout d~g or in 4ny way affectiag the liability of the martgagcxs herenndes or upon tl~e debt • hereby secured. The Association may deal with tbe Mo~gagors and/ar with s~wce~ors in interest wIth nfa~ence to thts matgage and the de'bt henby secured by for6earing to sue, eadending tbe time fa p~yaient of the debt, grovidL~g for different • moatbly paymenb and/~ • different interGSt rate~ aad by other Pacpress moclifkxtions oE tbe oontract, without b~siag any priority ~ tbe Associatan lws over other mortgagees or lienon or holders of any j~nioc u?terests in the pcoperty s~eecored bercby. 10. That in the event the pmmises hereby moitgagd, or any part thereof, shatl be condemned at~d takea [orpu bl~e use ~ uixle~ tbe power of eminent domain, the Assuciation shall have the right to demand that all damages awarded far tbe taldng of or damages~to said prenaises shall be paid to the Associatjon, ib succ~son or assigns, up to the amou~?t w?paid oa thti ma~tgage aad mav be sp~ llicd upon tt~e pay~neat or paymeats last payabk thaeon. ~ . 11. It is speciEicaUy agreed that time is the ~ce of this contract and tbat no waivex of any obUgatioa hd+e~mder ar of tbe obligatioa secured hereby shall at any time thereafter be held to be a waiver of the tem~ or of the instrummt scceubd hreby. 12 IE foreclosuro proceedingn of any second mortgage or seoond trust deed or u?y iunior tien af sny ldnd slwuld be i~sti tuted~ the Association may at-ks option, ia?mediately or N~er~ker declare this matgage and the iadebtedness secnred l~ereby due and pnyabk. 13. To the extent oE the indebte~ess of the 1?s.s:tgagocs to the A.isociation d~nbcd haein or sccured hereby, tbe As~o- ciation is hereby subrogated to tl~e liea or Ueas and to the rights of the owners at~d holden there~ oE ~each and every mo:tgage, lien or other er~mbrance ori the land desaibe~i barein which is paid and(or) satisfied, in whok oc in pnrt, out of tbep~e~t ~f the ban desaibed herein or secured hereby, and the rapectivc liens oE said matgages, liens or othrr e~cumbeanoGt, s lltu - t~ arid be heid~by the Association }?erein as secun for the indebtedness to the Asaocistiou haeia described ar ha~eby secune~t~o the xime ~z!ent that it wonld lwva beea sec and wou!d l~ave been passcd to and bxa hdd by the Assoc~ation hsd it beea _.-`duly and regularly assigoed~ transferred, set over and delivered ~u?to the Association by sepuate deed of assiginrmaat, notveithttand- . _ iag the fact that the same may be satisfied and cancelled of reoord, it being the intention oE the parties hcreto that tl~e same w~li be satisfied and canoelled of record by the lwlders tha~eof at or about the time of the n~cordiog of this martgaga . ~ 14. To pay all . and singular the costs, charga, and e~p~ses indudiug kwyer's fees, reas~sably ineurred ar paid at any . time by the Association, be~cause oF the failore of tLe 1?io~tgagors to perform, oomply with and abide bjr each aad every sti~wla- ' tioiu~ agreementr, conditions and rnvenants of said promiuoiy note and this deed. or ~ither~ and e.wery such p4yment shall bear interest from date at the rate statecl in the note secured hereby. - 15. That he willp~m~ t, commit, or suffet no waate, impainnent, or deterioratton of said pruperty or any p4rt tba~eo~f; and in the event of the failuee of tbe Mortqagors to kcep the bnildings on saidprem and tMse to be erected oa said prgoa~es, ~ aa~ improvements thereon in good repair, tbe Associatioa may make and pay for su hrepa~s as in ib di~on it may deem necessar~? for tbe properpreseiwatan thereof. and the full amonnt of such payrnents shall be ~ec~ued by tl~e lia~ of thts mat8age ~ and shall at the option of the Associatiou be immediately due aad PaYg~. ~ PaY+~ble in such monthly uis~ts as tbe AssocL- ~ ~ tan may determine, ~nd evecy such pa~yaeeat shall bear ir?tenst from date at tbe rate stated 'w the note secured hereb~r, j 18. Tbat if the Association and tbe 1?~artgagon agree, the Mortgaga~a w~l catry a policy ot policies of ins~unoe upoa their lives in an ar3euat equal from time to time to the amount of iadebtedness herrby ~c+u~, making said Association baufi- - ciary ihereunder, and that the said Association maypa y the premiums for such in~uranoe (ia tbe eveni the Mortgagors do not)~ ; and add eaci~ such payinent to the unpaid b~a]ance of the lo~an, as of the first day of tbe thea current montb, and it sball beootne ; additional indebtedness s~ved by t~vs moctgage payable up~n demaad. ~ 17. That in tbe event that this mortgage be given to secure a construction loaq failure oo the part of the Mortgagon o~ ~ their contradon to complete said bnilding in aooordanoe with Constniction Loan Agreea~ent, of even date herewith, or to build said constniction in aocordance with plans and specifications filed witb the Associutio~„ shall ~tute a breach of this matgage, ; aad, at the oPtiao of the As9ociation, immediately mature the entire amount of principal and iaterest hereby sec~u~ed arni tbe Asso_ # ~ciation may immediately iastitute prooeed'wgs M foreelose this mortgage. 18. That the abstract or abstracts of,~itle covering the mortgaged property shall at ail times, during tbe life af tbjt moct- ~ gage, rema~n in tbe possession of the Assoc(aEioa and in thc event of thc foreclosnre of this martgage or ~ transfer of titk to the mortgagea prop~? in e~t;ng~,;s}„nent af the inaebtednas securea hereby, au rig~?k citk, ana ince~tc of the MoKgagan in ' and to any such abshacts of titk shall pass to the purchaser or grantee. 19. The Association sball bave the dght, in its discretton, to rocjuire that t6e Mortgago~ss p~y into the Assodatioa in adc~i. i tion to the monthly instaWnents of principat and interest to be paid by the Moztg.go~s una~ d?e no~e sca,ned by ~s ,noscg~ga ~ an amount equal'to one-twelfth of the annual installmeats of any mxes on tl~e mortgaged premises Ievted or assessed by any governmental sut}writy, and one-twelEtL of the annual p~iums for Fire and E:tended Caveraga ins~uauoe on the mo:tgagcd premises as hereinbeEore required by the Association, and the Mortgagors failure to a?alce s~ch payments sLalt constitute a defaWt under this mortgage. IN WITNESS WHEREOF, the said Mortgagors hereunto set their handa and seals the day and year first above writta~, Signfld. sealed and erec~ pr of: } . ~V ~ c~~ ~ 3 : _t~:__.....------------------------------~'-- ~ --c-~ ~(SEAI') i - - .__--~i.~'c~~_.?1 _-_~,1~_~i..._.__~ ~ ~ _~S~,~ : ~ ~ Doris M. Radke ~ • ___,_.___.__.__~._._.~.__.__...~.(sRAI.) J ~ . I w.~_~ - _--.___..___.._(SEAL) • ~ : . I : oi~ 108 Facf ~93 , : i ~ - . - . - Y~ .