The URL can be used to link to this page

Home My WebLink About1059 -.,.,....i r . 0 ~ . , ~ ~ . 8. ~ vaut def.Wt tn d~e pe~fom~os oE tbs owroo.ub aod .~ceemenls oE t~ts mat8~8a ~~8+~6'~ slnll bs aocitled ~o oolle~.ti drs nah, foues +~ud proHb 6oaa tbs pcawi~es LareiobeEors dacribed, b~ la ase cf • dehult in my of the te~ of thM mo~tgsge, aad t6e oE t biq b faeclas tLi~ a m othac aao~t~ge anauobe~ing tbs whhiu dax~lbed p'opeety, tbe t As~oMntio sh+~ll imn~cdis ~nd witlwut noKoe be M tbs appohiduaas~t oE • Reoelve~ oE t6e ~matgaged • ~u?d ~ h oE tLe reab. itsues u~d iti tl~e~eof, with tbe usualpo wa of Reoetvas ia ~cD sad sud~ Receivet nry ooatinued : ia pos~ssioa of tl~e said propaty uatil tLe tiaae oE tbe a]s tl?eteoE unde.t sucL Eorecloaura. +wc1 uatil the oa~nfirnwtion of sucb ~ ~u sak by the (~ouct. ; 9. lf • ca?vey~nce sbould be made~y the mo~tgagas of tbe prani~s beretn ~Oribed, ar aayp~r~ thaeof, without the writtea consent of the Association, and wltliout assumptian ta reguLr form oE law by tbe grantee of tTie obUg~tions to t6e : Associatioa created by said p~onnisso~y note aad tlris m~tgage~ tM~, ond in thRt eve~?t, ~ad at tLe optior? oE the Assc~ciation. a?d ~vithout twti~e, all sums of mmea? sec~uad ha'eby sl~all Immeciiately and oor~cunendy wlth such cmveyance beoome due and- PaYa'bk and ia defaul~ 1Ue Association may dtal wlt6 suooenors iu ioterest wlth refarena to thb matgages and tbe debt hereby sec~ued ia the seuae awnnrr as wIth the awrtgago~s. uid may fabear to sue or may ea~tead tiane foc paymeoc oE tl~e dcbt. u~ hereby, or otherwise act witLout g or in any way affectiag the liability oE ti,e matgagors hereunckr or upan tbe debt hereby sccurcci. 1'he Associatton mad~ dat with the Mo~tgag~s and/a wIth suoxsso~n in interest with reEerence to this mozt age aad tbe debt hezeby secured by fo~rbearing to sue, e~cta~dtng the tjme fac payanent of the debt, ~ro~?iding f~ different P~YI'~p~ ~~or a differeat ~atenxt rate, ~nd by~ otber espress mo~tions of the oontract, wittwut ioaing any prioritv the Association has over othar mortgagees or lienors or hoklers of say junior inte.rosts ia the properiy scau~ed hereby. ~ . 10. '1'l~at in the event the prea?ises hereby g~d, or any pnrt thereof, shall be oandeYru~ed and takea forpu blie use ~ under tbe power of emiaent domain, tbe Aswciatioa~}wve tbe dght to demand tbat all damages awarded for the taldng oE or damages •to said premises shall be paid M tl~e Association. its a~ccesso~s or assigns, np to the amount unpaid an t~ matgage aad ; may ba applied upon the paymtnt or paya~ents last payable therean. 11. It_ is specifically agreed th?t time is die eud~oe of ti~is contraa and that ao waiver of any obUgati~ haeunder or of ~ the obl~gAt;ou secured bereby s6all at any time tl~x+eaker be held to be o waiver uf the tenns a: of the Lutrutnaat secured bereby. ~ ~ 12. IE foreclasur~e pmccedings of aay seoond matgage or seoond trust deed or any Junior liea of eay ldnd sbould be imsti- tuted, tbe Association may at its opKon, immediately or tl~eraaher dedare this mortgage and the iadebtedness secured hereby due ~ wnd payable. 13. To tha extent of tbe indebtednas of the Mottgagors to the Assocfatbo de,aai"bed herein ar securod hereby~ the Asso- ci~tion it hereby snbrogated to the tien oar I&~s and to tbe ~ts of tbe ow~eis wnd hoWas theno~ of each andev~y moztgage. u lien or other encumbrance on the land desai6ed bereia whjch is paid 4ud(orj sattsfied. in whob or in part~ out of tbe of the ban desaibed h~erein or secured hereby, and~tbe rresspectlve liens of ~id matgages, luns or other encumbtanc~a, pect ta and be held by the Associatia? hereia as ~ty for the Lxkbtedness to tbe As~ociation l~rein descn'bed o~ henby ~ to the snme ex~ent that it would liave bea~ preservad and w~a~)d Lave beea passed to and bea~ held by the Assoc.~iation lud it been ex. duly and r~egularly assigned. transferred. set over aud delivered unto tLe Assoctatiaa by separate deed of ass~oma?t, n~otvinith~and- ing the fact that the same may be aatisfed and canoellad of rec~rd. it being tbe inteatim of tbe parties hereto that tha same w~l be setisfied and cancelled oE seeord by tbe holdeis thereaf at or about the tbne of the rraor~ng of t}ds moctgage. 14. To pm~y atl and siag~ilar tlie oous, char8es, and ~ including 14v?ry~*'s fas~ reas~ably inctiured o~ paW at aay ~ time by the Association, berause of the failun oE tLe I?latgagon to prrfam. o~oP1Y with aad abide by each and every stipula- tions, agreements, conditions and coveasnts of said proa?is'ory note and this deed, or either, and every sud~ p~yment shall bear ; interest from date at tbe rate stated in tbe note secured hereby. s ~ 15. That he will~ t~ commit, or sufEer rm waste. impairrnent, or detuioration of said property ar u?y patt t1?e=eof; ; and in the event of the failw~e of the Mort~agon to keep tbe buildiags on saidp~emises and tboae to ba erccted oa said premisrs• ~ or improvements thereon in good repair, tba Assoeiatian may make and pay f~ such npai~s os in ib disc~tiaa it may dcem necessary for tbe properpn~ervatan thaeof. aad- the- f~ill amount oE such payma,ts s6a11 be :ecured by the liea oE th~s mottSsge ; and s6al[ at the option of the Assoctntioa be immediately due aad payabk, or payable ia sud~ inoatLly installm~ats as the Assoc~a- tan may determine, and every such payment shsll besr intenst from date at ibe sate atated in the nobe sec.~ured l~eby. 18. That if the Associatioa and ihe Moitgagors agree. the M~tgagax wnt eanyr a poliCy or policies of ins~uance upon their lives in an aul~unt equal from tia~e to time to the amo~wt of indebtedness hereby sec~ued, maldng said AssociatIon beneEi- ciary thereunder, and t6at the said As9o~ciation mayp~y the premiums for sucL iiuuranoe (in the event the Mortgagars do not). and add each such payment to tbe unpaid balance oE the loan, as of the fizst day of the th~a ~t montb, and it sLall beoome additional indebtedness sec~ued by t~lis mottgage payable upon demand. 17. 'That in the event that t}us moitgage be given to sec~te a co~st~uction baq fa~lure «i the pait af the Modgagon or their contractors to complete said building ia sooacdanoe with Construc~ion Loan Agre~ent. oE evm date herewith, or m build said construction in aooordance with plans aad specifications filed with the Assocjation, shall ooattitute a breach of this matgage, ~ and, ~t the optio~ of tbc Association, imnnedistely m~t~ve tbe entire amow~t of principnl and interest hereby secured and th~ Assu- 'ciation may immalii?tely iastitute proceediags to foreclose this modgaga ~ 18. Z1~at the abstract or abshacts of titk coveric~g the mortgaged p~opaty sbaU at all tin?e~, during t2~e life ~ this mort- veric gage, remain in the possession of the ,Association and in the event of the foreclosure of this mortgage or other transfer of title to the mortgaged prope~ty in eztingnishment of tha indebtedness secured hereby, all dght, title, and iatarest of the Mortgagors in , and to any such e6stracts of title shalt pass to the purchsser a grantee. 19. T'he Association shall have the right, in its dJ~ion, M require that tbe Matgagon pay into tLe Association in addi- tion to the monthly inttallments of principal and interat to be paid by the Matgagors w~der t}~ note secw~ed by this matgage, an amount equal•to onc-twelfth of the snnual ~ut~l~ts of aay taxes on the mortgaged pzemiies levied os e~ by any governmental suthority, and one-twelfth oE tUe annual premiimns for Fire and Estended Coverrge inswance on the mortgaged premises as hereinbefore reqnired by the Association, and the Mortgagors failure to make such payments sball constitute a deEsult under this mortgage. IN WITNESS WNEREOF, the saW Mortgagon hertunto set tbeir hnnds and aeaL tbe day anc~ year first above written. Sign sealed and esence - . / ~ ~ ' _ - . . _~_.-----~SEAL) rank : ~~w~ersT_.._~__ ~.c~lGG~ ~0~~?~tty , - . -(s~-) . As o Frank 3 rski ' • • _ ~-1 - _ ` - - ~ -(S~) / - - - ~ - ~ 8e en . $wic~e s ^ ; . . i ~ . ~ - ~ ~i~~ --___.____cs~.~ ; As to Helen V. 3w e , ! ~ . ~ ; ~ . ~~Rx 1G9 ~55 , ~