HomeMy WebLinkAbout1928 _ .
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~nae ta e?.....e ~f . wtt w.s irdeuad ~ t«.eln. ~u. ~ d. ~i~ep~p..wu w.MicM~ » a~b .e w d~. ~w~ ,
we~ fieeelow~+ wit » eM awet j~ tMnoE !or Me ~pptats~ ~f a aeN~ ~E aU aaa~ t~e ~oe~i M+~eet~•
~E sil n~ i~oos~~q~ LwNS ~ rs~enua t~erwf, tero~ w?woe~e~ ~ourot deei~~d= ~ eM~eopo~ ~t Y?eea?~ s~ceMl~ oo~ee~etsd .
a~ ~ne~ dNt tM caut ~?11 h~lwid~ a~polat wc? nod~u wit? tM wual pwen ~ dudN ~E eeodrsn b•tib a~at aad dd a~
pintee~e ~sil bs ~ads 6~ tM oou~c M a mame of ~aiet ri~t ~s tM ~od witloot rtierMa M tM adeowe~ K in~deqwq ~E tbe
~vu~ of tM p~ope~t~ l or eo tb~ ~I~pr or i~ot~qr eE or ~ o~ ~eq dsteod~et » w~ wie. TM ,
f~qa~o* ?eceb s~eciReallp ~a ~?t w objea M tie appdoeseet of a recdra a~ aforaatd aed ?aeb7 es~rad7 oo~eaa tb~t wcti
a~~poi~ e a~ aa ~dmieced eq~dt,r ~od y~ oatce~ of ~alute ~t b tM 1~oe~a aod tLat t4 ume eq be dooe w~t6oW ;
T6u if aalr proceedinp ~4ouW be iouituted apio~ t6~ prope~qr oo~c~ bp taii awre~a~e upaa as~ at~er Neo or claim wDet~er i
wperio~ or junior eo tbc lieo ot tLb ebc ~atsatee ms~ at ia op~ios i~emcdiacei~ upon ioaitueiaa o~ weL wit or duda~ tM pesd• ~
~ th~rooE declare t~ mat~a~e ~a?d tle ebccdneM ~cu~ed l~creby due ~ad p~~bk tord?wit~ sad mq? u ib optjoo proceed eo toe~ectws
~s~ '
7. To pay dl aod tu tbe ~ort~ fea. diarca +nd esPeoKS of s~er7 1da4 Lclodins tM oat oE u sbtc~et oE dtk to s~id tand~ t
fo~wd to be eon~~t o~ ac~~'eot in ooooeceioo witY ao~ sdt ke t~e io~eelaure of t?ba~o~t~ ~od aLo tacludiuy w?et~ tbe ~a~s
b opGpeed ~opa~ wue o~ aoy ca.ooabk atoo~'s fea Iaeumd or espwded u an~ dms b~ t`e Mor~et beeaws ot tbe f~ilw~e
of tLc
blwt~a~or eo +~dwa~. compl~ witL aad ~bide b~ dl or to of ttie oo~easonr ooodiBoo~ aad stipulatioa~ et ~atd Peom~iMOnr nocc. o~ ehb ;
or
morcta`e. ia a foceelosuce of thi~ mort~s~e aud is ool n~ d~e a~oouot ~eeuced becebl wid~ or wltLout kpi~~edtop. ~od os ~+eim-
bune t6e b[ ~tor srerr pqmeae ~ds o~t tacuntd tor aq wc? purpoK wk? ioccra~t has date o~ ~eq paqmenc u t6e ra~e oE ~
dd~ ye~ cs~~=7i) PK amym; ~uc1~ pyra~eab and obii~~tioa~, wit` Interat t?ereoo as atocaaid. sW~ll be ~eeurcd by ttie Qm rereof.
i. T~ k the buildins e~ bni{diap aaw or ~enafar oa ~aid lasd ia~ured ~mt IoM or d~m~t b~ fin. aaeodcd oo~era~e wd
ot6er periM, inel~ war risk inwraoee if a~silab in a~um aot le~ c6ao ~heir ~ii Iasanble ~alue at tbe cat ~ad e~ewe of tbe Mo~t-
p~a~ ia a car y or caopania appro~cd b~r tbe saace, t6e poliey or polida to be 6eld by tbe aod ~uc6 potic~ or policia o~
insuraoce shall a~e aEfucd t6ereto a Standud Ne~r Yock Mwtaa~ce Clause, matins alt loM or losKS uadce Folicp o~ poliaa parabk w
tbe Mott~agte a ib ioterat msr apptar~ and t~ delf~er ~aid policp or polida to the Moet~ee w6m iaued wuh thc receipn for tbe pay-
mau of tLe premiu~n tberefor; aud ia t6e event aoy ~um of m~oae~r beoomq parable unde~ sucL polier or polide~„ t6e Mo~tgaea s~ail aa~e
~ tLe optioa to raeei~e aud applr the same oo aooouot of t6e inde6tedneM .eeuad ~erebr or eo per,oic ~e Moce~aior ca receire aad we ~y or any .
part tLercof; for ot6er purpaes~ witbout thereby w~ivin~ or im~airia~ aar equity. Gea oe rig6t uuda oe br ~irtne of this mort~; aod
e6e Mort~asee if it decim neeeaary map pl~ace and psy for web ~osuanee, or aoy part ~derrot witbo~ laen` walrio~ or sifaans bioK-
~'s option to foreelwe for bnacb "of tLi~ mvenany or any part tLcrcof. or aar n~Lt or optioo under tW~ mort~a;e. and every suc4 pa~r-
a~eat ~ball bear iaterat fran date t6ercof undl paid u the rate of df6t per ant (!96) per anuum. aod alI ~uc~ p~rmena witb jnterat a~
aforesa~d s6att be sau~cd by e6e Uea 6ere~of. In cLe ereat any !oa or damase is snffered Mort~a~r abaq ootify Mo~t~agee of ~ne6 loa or
dama~e within fortp-eig~t (4=) 6oun after tLe bappening thercof; tbe fdluce to pre sue6 oaice tball eoaitttute t defauh and t6c Mort~a-
~eee shall 6ave t6e rights 6erei~ ~i~cn for aIl defauib.
To permiy oanmit or suffer oo waste and tu matntaia c6s impro~anews at all t~ma in a~ue of eood npair ~ad condttioa; aad
eo do orpe rrait to be done to said premi~a not6int thu will alter or t6aoQe the we and eLsraaer o~ ~aid pcopeet~r or in .oy ..ar ~~r or
weakea tbe ueuriqr of said ~oort~age. Iu case of t6e tef~al, acglat oc in~biGt~ of d?e Mort~a~or eo apair aad maiutaia ~ald property, t6e
Mo~a~ce mar, u its option~ mate sucb apaia or cau~e tbc same to be made and ad~aoa monia in that beh~lf w6ic6 wms aball be ~ecurcd
br che Gea 6creof ~ad bear iutecat at the rue of dsht pec ant (S9G) pcr ~nnwa. ~
t0. To deG~er t6e abaact or abtraets of dtle w~aing tbe moct~aaced propert~ to Mortea~ee. or [b dai`oued aQeat~ w6ic6 shail at
all timer, durin; tAe Ufe of t4i~ wort~a~e. amaio in tie poaasion oE t!e blocteasee aad In ereot of tbe foralaun o~ this mort~aje or aLer
tramfer of titk, all ri~6y titk and iatemt o~ tbe Moct~a~or io and to so~ sner abtnet os abstr~cb of titk ~bal! p~a to tbe purcbau~ ot
trsatee-
11. T6u no svai~er of aoy aovenaat Laeio or tn t6e obli~adon ~ecund 6en6~ ~?ali at ~ dme ~ereaEter be 6eld ta be : wairer e!
my of thc ot6e~ arms hereof or of tLe uote ~ecured Lereby. .
iZ. T6at ia orde~ eo aooelerate tbe maturitr of tbe indebttdna~ 6ereb~ ~eenced bee~we ot t6e fdlun of t6e Mort~aeor to pay wy tu
~a~?~[. UabiGry~ ob4Qadon oc eaeumbradce npon uid propertJr a ~crein pro~ided. it ~6aU not be neaysaq oor requisite t6at t6e Mort~ee
aball fint pay tLe wma
17. That if ~e Mort~a~r ~6aI1 faii. ne~lect or rrfure for a period of t6irt~ (30~ dap full ~nd promptip eo pa~ tbe amounn tr~ ~
Quired ro be paid br ~Le uoc~e 6ereby .aured or tbe interat ttierein ~peci8ed or an~ of t6e ~uao~ ~ mone~ heeria referred w or 6enb~ ~e-
cured. or otberw;se duly. ~11~ aad praa?4tly ~o pcrfora~ eucute. aomp1r~it~ ~nd ~bide b~ cae6. e~ar or in~ a~ tDe coreaaws„ condiao~ ~
ar ~putuiom of thi~ mort~ase~ tbe promu~ory oote hereb~ ~ecuced ~nd/o~ chc oomeruaion ban s~ameoy if wy. thea, and in eitber or io
any of wch c~eop. witbout ootice or demaad. t6e ~aid ~greQate sum mentiooed tn said promiswry ooce, ka pre~ious parmencti if aaf. aad
u?r and atl swm mentioned 6erein or ~ecured bercb~ shall b~eome dne and parsble fortbwltL or t6ereaftu u t6e ooaanu~ opaoa of tLe
Mott~agee as fully and aompldd~ ss if said a~regate sums were origioally stiFolated to be pa[d at such time. anytbing in wid praaaoqr
note or hercin to t6e ooatnrp notwitfisfanding~ an4 t6e MortQagee s6sq be eahtted t6ereopon or thereaftet witbout noaa or daoaod to in-
aitute wit at law or ia equity to enforce tLe n~~p, of the Mort~agee be~nder or undcr wd pcomiswrp aote. In tLe e~eot of any defanlt
or bnsch oe~ t6e part ot the MortQa~or 6ereunder or under uid pcomiuory note, t6e Mongagee ~bait 6a~e the oootiauiag option to enfora
pa~nncot of atl ~wro ~ecured hereby br aetion at law or br suit ineq ~i~qr ta forcclose t6is wort~age, dtber or both~ coacurrentlr or oc6erwiu.
aod oae ~ctioa or ait s6a11 oot abate or be a bu to or waivu of the Mort~agee'~ ri~t eo imtitute or mainaio t~e aher~ pro~ided wd biort-
~s~ee shail hare oni~ cne papmwt and tatufae6on of wd indebtednar.
14. 'lbat in tbe eveat thst Mortga r s6a11 (1) oooaent oo tbe tppanement of a reeei~tr. truuee or liquiduor of all or a substantial
ioabiUtp ~o ~~d~
as ~Z~
dn~~ im
ke
a~ ~ ~le a~roluntsrp peation in bankruptc~. or admit in wrianQ ib
par ue. ~me ~nment for t6e bmefit of crediton~ oe (4) file a petitioa or aaiwu
aetio~ reorganisatioa or anaagemenc w;t6 ered;ro~n~ or to take ad~anage of anr tmol~wcp law. or (S) Sk aa sn~Rer admittia~ tLe ma
terial allegstiaa of a petitioo filed against the Mort~agur in any bankruptc~. rcoreanisation or iawhenep pe~oeeedin~ o~ (6) actioa sha8 be
takea br the MortRagor for t6e purpose of efEaring aay of tbe foreBoin~ or (7) aay order, jud~noeot or da~ce ahall be entcred upon an
appl;catio~o of a creditor or Mortgagor by a oourt of asmmpetrnt jurisdietion sppwrin~ a pet~tion ~atin~ appointmwt of a receiver or trustec
of all or a substaatial part of t6e Mortga~ors asseb ~od ~uch order. judg~nent or decree ~bali oantinue utatayed and in effat ~or anr period o!
tl~irtr (30) oo~uerutire da~ tbe Mortgs~ee msy declare t6e oote 6ereb~ ~aured forehwit6 due and payable~ ~hereupon tbe priocipsl of and
tLe interat accrued on tbe nae sad :11 a4er snm~ 6ereby ~ecured s6a11 ba+ome fort6wit4 due aad pa~abk as if att of the said sums of mone~
were ori~nslly stipulued w be paid oa sucL da~; aod tbereup~ tbe Mortga~ee witbout iwtice or demand ma~ prwecute a suit at law and/or
in equity u if all roooia ~ecured hereby 6td matnred prio~ to ib inMitu6ao.
tS. Tbat the Mortgasee or ~np penon authorised by t6e Mortp~ee sh~ll 6are tLe ri~ht to enter upon and impect tbe mort~aged
preausa at all «~aooable ama.
16. 13st any ~um or sums wLic6 may be loaned o~ ad~anad by thc Moet~a~ee to the Mort~a~or st anr time withio tea (!0) ~ea»
fr~ the daa of thi~ iadeature. to~e[her wiW Interat thereoo at t6e rue agrced upoo u the time of wc6 ban w ad~anee, s6a11 be cquall~ se-
cvred witL and 6a~e t6e same priority as tbe ori~inal indebtednas and be tub~at to all t6e teraq and pro~i~ioos of this mo~a~e; pm~ided,
tLac t6e aagreQate aawunc of priocipsi ountaadin~ at an~ dme s6a11 not aoead an amount equa! to one buadred and fifqr pcr aa (IS09G) of
t~e principal amount originallr securcd Lueb~. ~
17. 13u. if rcqnirtd b~ Mortga~ee, tbe said Mortga~or will par ooto tYe Mort~a~ee~ oo t6e f'int dar of acb and e~eryr oooseend~e
montb~ a wm equal co one-er.elfc6 of ehe anaual amoune 4eceraq w pq dl aza and a~aaneab a~atnsc c6e ~aid mortBaged Prsmise~ said
nanchlr sum co be euemaced solely by Mortgaga and cakulued w be an amouac na las tLan t~e amounc of tua aseaed agaimt said mort-
ga~ed Premi~ for t6e pre~iom year. and if furt6er required by Mortgaga co pay all insuranee premi~ tn maoner and form as pro~ided
Aerein for the paymwt of tua aad aaesmeab. '
i/. 'T6~e Is t?e w~at tb~ laae wWes tUr~tp~t b ~1+es ta Neur~ b sad~ ~ dN e~ Neaadss dtla tM eeo~ttuedea
of oev~ buildin~s or tbe ooouruaioo of impro~e+neots aod/o~ additiow ~o dtarq buitdinp, t~e~ 11~~. if required bl tLe 1~t~aee~
~prealr ~grea w deposit with the Mort6a~ee or tts dai~nucd.a~ent an amount of mane~ equal eo tbe ffeteaos 6awem tbe net peoeeed~
of tbe ban aud the toul amouny as dearmined by t6e Mort~a~eq, req~dred ~o fuU~ oomple~loe ssid eoo~tnktlaa tn ~ooordaooe wlcti che plw
~nd ~peci~cuions herctofoce subraitted b~ t6e Mort~a~r and ~~ppra~ed b~ t6e Mort~ee. Sald ~mouat of a~oae~ ~6a11 bt plaad b~ tbe
lzorcQaQee ia a"Loans io Proeea Acoo~eot" Io tbe asme of ebe bbrt~agoq and tLe ~ame ~6a11 be mat br t6e Nort~aQee tu p~~ t6e aosts„
eharees and apen~a inearrcd in oonnation with said ooastruuioa y~or ~.di~bu~sin~ of t6i~ baa It i~ tuct6er asceed tLat ia tbe enat
said oomtroction L mt fn1lr aaapkted aa or bcforo t6e due stated In tbe Comtr~Hoo Loan Ajreemeat or ia tbe e~au t6at the wort m ~
aId oowcnKtioo rLall oase before ~ull oanpletioo and ~ue6 casariao s4a11 oootinue for a period of ten (10) da~s, o~ if ~uMtaodsl oootin~ous .
Dro~ea s6a11 aot be made ia ~ue6 oo~atruchoo, t6co sad Yn ~n~ we6 s~ent the said asgregate swq principal aad Inttrc~ aKOtioned in taJd
a~+umi~ory ooce, aud all monia ~ecured Lerebr. sball beoo~ne due wd paTabk iorthwttb or tLereafar u the option of ~aid Mort~a~ee: and ;a
tbe eveot o( sueL eeaaeioo of wort up~n raid oomtnrction for a period of cm (10) day~ or if ~u~tanaRl aootia~aw pro~rew d~all not be
made fn sue6 oomtr~etion, a aioraaid. che Morc~ee mar a ib opeioa enur into and upoa tbe mo~ pnmisa sad oomple~e s~id coo-
rtructiop in wcb manner ar it deems ad~isabk wit6o+tt an~ interEenace from tbe Mort~a@o~: t6e said rtp~ haeb7 d~ ~ t+~~t
b tbt Ma~a~ee ~ull power snd aothorlt~ !o mat~e suc6 aKt~ into ~od opoo ~aid mor.psc~ premisa, to e~ fnco w~e6 ooorrsw or u-
naeemena a, mar be oeeeua~ m oomplete said oo~cn~aioo. and ~o espend aa~ mooia remaIoin~ ia atd "I.oam is P~ocar AooouoC' asd
In additiou any •uau of monep oeea~ar~ to oomplete uid eaa~troeeion; aad aor aad aU mooia upeaded 6~ ths l~lort`atee in ooonecdoo
wic6 axL oanplaioo of ao~oo in ezees~ of t~e monia ~n said "Lww jn Praea Aoooune" ~6a11 be ~dded w tbe ~dd prindpal deb! ~od
~ball d~aw interat u t6e rate pro~ided ja said peomiyor~ note~ aod ~hall be secn?ed 6~ ttiM moetp~e. ~od ~116e pa~abk b~ ttie Morep~roe
e~ aiwoa.
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