HomeMy WebLinkAbout2868 ~ ~ . ~ o. , f_~ 2.: _ . _
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~ ~ Oati d~b~lt Y dr p~e~aewo~ aE dw oowMnb ~d ap~wwts oE tii ~oet~ 1~ ~W b~ ~tNMd .
~ ~o aoileot e~ rwib~, Y~M rd~ fro~ iL~ prrwYN L~~ivb~ia~ daor~, bat i aw of ~ d~tarlt~~
~ra~~E !y Marw of
; t6r moetp~ ~nd dr v~~ 6i~ ~~oaedow dii ar ,o~e so~ No~bwl~ t1M ~rltli dMOe~d p~etp. elw
n '
' ~ A~oe~MtioR d~ aed w~o~t ~otl~o~ b~ ~'ts d~ aE s~o~nr oE e~ ~ao~aetpp~dp~p~t~. nd
~ of t6~ ra~ i~ ~ad tb~eio~ al~ t~ ~rwl aE i~ wob aaeti ~d w~ aeoetwr ssap b~-
-i~ed
~ ~po~ e~i~ion~ . a W propeety m
tl
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b
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t
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b e ~ o~ d o ~ o f ~ u e
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tbs wrrh~~ea oo~i~ta oE ~
~ aad ~ ~ ~ ~ ~ ~ . .
w~ont ~ ia reaul~r ~ af Inir 6q dw ~a~es af tbe ~Wt~eioos to the
; As~odatton cs+eated b!! ~aid p e~
o a
~
i
M O r
j? a~o~ ~uad t1~b t
l
~ a q and is t~t N r~ aad ~t d~s o
p t i o w oE tlie A~soMation. .
; aad wlt6out a
II a~mt oE atoner ~se~n~ed ~ee+eb~? sed oo~o~eread~? w~l w~cL ooaveyanos beoome d~~e ~nd
~ p~
r
a
b
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d
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l~ T'! w A
~ w o
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o a map d a
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h ~uooe~oa h ia~e~est w
k
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i~~ e o a b d d r a~a~aale t
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s d e
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se~wred in tbs wns mamner as w~L d~s woitg~aeti wd may fabear ~o sus a aay aac~end tlms far p~ymait oE the deb~ s~
~ 6ereby. cr ott~wbs ~ct wttbnt dL~ar~ing a in any wry sffect~ ~s ~abiMh? af tbs a~~ bereunder a n~oo d~s debt
; l~ee~eby aecucrd. T!a Assodatlo@ may ala deal r~&b tbe 1[o~aon aod/a witb iuooe~oes ia ~ w?~ refaranca ~o tLt~
and t6e debt roby ~s~ec~med bp foebeach~a co a~e. ~tendia6 tbs Hme iar pay~oe~t oE tbe debt, pro~vidios ke di~a+ent
~~~P~yma~b aod/ac~~a di~raat lateeart satq, ~nd_ b~r ot~ e~cp~ naodi~oatioo~ af the aontr~ct~ ~without any priaritp . .
< tLe A~aodatioa tn~ aaee othec mo~s~}ee~ or lieoaes a boi~lers aE aaj? fidor iota~arb 1n ths prope~ty sa~ured }~a y. _
! 10. Th~t ta tbs ev~+ot tbs pe~e,mires bereby n~s~ ar sny pat tLeieof, dWl bs ooodanned and taloen fac u~s
I ~a,ckr t6s pow~ee af am6~ent doonaioy ths As~odatlon vs the rt~t to da~snd t~at sD daaA~es awarded fa tbs ~of a~
` damag~ to a~id p~annbes sh~II be paid Eo !bs Modatloa, ib aooasoo~s cc ~ up b tbs aaaw~t mp~id oa thi~ nnoctg~ege and
u~r bs applied ~on d~s P~7ment ar P~yaaeots Ltt P~yaWs the~on. aaaw .t
~ lI. It it spedKoal~ agreed cbst tlms i~ tbs aneec~s :~E thi. oaw,~a anti tmt no watv~e~ of anr obiig~atlon bare~nda ar oE :
. tbs oWig~m seca~ed berebq ~aD at auy tims tLa+e~fbae bs baid to be a wai~rar oE tbs ~eems a oE tbs ~t ~ec+n+ea Lereby.
1S. If faredoa~re pe~ooeed6~ oE ~r aeooed gp ae ~eoond t~tt deed at a~ ~unior Uea of any klnd :6oWd bs L~
tuted. tLs A~ochtioa ~nay at Its aptioe~, im~aedh~ely
a~t
ee~e~iter dectu~s dd~ marfgtas aad t6s lodab~e~s sec~~red ba~ebp dns. '-,2
- +md payabJe. - .
: 13. 1b eLe eacte+~t af tbs indebtedne~t af d~s l~d ~o dis Aaodatios da~arlbed baiein er sea~red hesebgr. t6s Aao-
: ~~is~Le~ebq mbro~abed m d~e liea aic liem and bo~~b of t6s a~uae:s ~od holdeer dreieoE oE erch ~nda~e~ n?oetg~g~e.
a~ otlr~ aacnmbnoos bn~hs l~nd da~eAied ~ein whic6 b paid aad(a~ ~atbHed. ia wbole ee in pae~ ont of tbs
~D
Of d1A ~D fj!/CN~ ~R 0~ lOCI11~Oa ~t.'!~?~ ipd ~ f~00~Ye ~ Of Or O~!!f !lIC~[~MCOl~ ~
t0 Slld ~ b0~ ~ l~lA b!!~R wf ~~~~D ~~01.'~~~ ~10l~R dO~C'f~Od O~ l1Ell~I flCI~O~
; ~10 /itll! ~t ~ ~ rM~Oq~ ~ItY~~ b0e11 ~Mfl~ ~ rM00~ ~ltYb b0011 ~tlOd ~0 ~ be00 ~IE'~~r a10 ~O~OR ~ $ 110a? ~ ;t
dWp aad reguLrly auigued. ~dere~ed. ~et eMer and deiivee~ed m~o tbe As~ocdtloa bp sepnaos deed of i~ome~ pota~nd.
ins die fi~t tlat tbe s~aae mny bs saN~ and c~noel{ed af reoora, ~ b e
fi~
g dis ia~eatlon oE tbs p~
e t
k
a bei+eeo dut tbs s~ms a~t
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8 e a a a u,«+
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d e i s ~
a~ o E a a~.
b o
u e t
b
e d~os uE tbs reooedba oE t~ie mo~a
1~. To par ,~u ana ~ t~s oae, c~.~. ~~~t h'~'• ~ee~ ~asrea a p.w .c .n~?
t~e b
y t
L
e A s
~ o d
a
t i
o q b e c 4u~e e f t
h e f
i~
e o E t
b
e Maetga6oes to pafa~m, eompiy wkh and
~~jr e~eh ~ad e~? aoipuL~
, tion~ ageanenh~ aoaditiom and oo~ats af dd piaadaaey note and t1,i~ ~k~ed, or eitber, and eaay mc6 payment s~II bas
, ~ca+est bnm a.tq .c tbe sate sbcea in tbe no~e secucea herebg?. • . -
• lS. T~t Ls wIDpe~m~, coaomi~ oe~ auEfar no aasee„ impdrroent~ ac det~erioeuioo af iiia popectr ae any pait theeeof; ~
and in tbe ~v~ait of tbs ~f~
n+e cf tbe ~o beep tbe bdiding~ oa s~id wd tLo~s eo be a~~et.~eed ca aaid p~ea~i~es.
; a ~ ~a ~~~cw~ m.r ~ ~a p.~? ~rep~ ~ ~ ~ a~ ~c m.r a~ ~
aeo~r~? propar pro~?atioo d~e+eo~ .na ais fnll amonnt of sacL ph?meab di.n~ b s'.ea.ba b~r tbs lim af thN '
~
; and s6aII at d~e optbn. af ffis Asrodation bs ia~uediabely ciue and payabla. ar Papabis in w~ch ~oo~y i~ta@meab as t6e A~oda ;
~ tion maY d~m~e, and evay mch p~ymeot sb~i 6e~r inbere~t f~ ds~s at t~s ~ shbed la tbe noos aeas~ed ~b~. ; -
_ 18. T6at if t6e As+ocistioa aud tbe Ma~agna sgnq ths ~o~t~ w?Ql o~ery a pdbr a pdicia~ af i~ranoe
d~Lr liMes io an aaasunt eqwl Erom Na4e to time t~ tbe amo~mt of ~r~ik~~ednea be~eby se~uced. m~iOn$ ~aW Aoodi?tion beneEi-
ciary d?e~nnda, and tl~t tbe ~aid Asrodatioa u~yp~y d~s p~smGnom fo~ wcL ioauaooe (in tbs av~eat tbs Ma~gars do not),
. and add a~ sncb payment to tbsunpaid baLnoe af tbe Io~n„ as af t6s Bnt day af tbs tt~en ciareat mant6, aod beooms -
additiaod ~ ~ecured by thit ma~tg~8~ P~Y+~~ ~ ~ . - .
17. T~ait ~ tbe event tbet t~fi aio~tgage be g~v+en b s~ee~~e a oanst~nctioa loaq bffune on the p~et af tbe Matg~goes a"_,,' -
~ ~fr ooot~ac~oa t~ oooiplete ~id badd~ ~ aoooeaanoe wtth C.oo~truct~oa Lo~
' :aid con~trnetion b aooo~du~e vvitb and tiom gled wI~ tl~s af e~nea d~~e be~ne~tl~. or to buiW :
P1aas ~eciRa~ A~ociatiea. dult oom~Id~~a
b~e+e~ch ef tLt~ mo~ge.
.na. ~ ab ~ d~ ~a.e~, m~a~e~? a,~ ~er~:~e ~ ~ ~a m~e ~a ~a ~ =
'dation may iaamedist~lj? iu~titute p.oceeallo~ ~ fo~+ecb.e tbi. matg.ga. '
~ 18~ 1l~st th~ abrtc~ct a abstracb af t~ie t6s nart ged d~aB st aD
h~ ~ ~ P~P~~ ~r ~ d~s li6e af t~ mat-
' - gate, r~aln in d~e posses~ion of tLs As~oc~tlan ~nd in the aae~t af ths foe~ecloane oE tLN~o~t~e e~ att~ac haasfer af thle ~o
~ tLe a~a~t~ged propa~ty in of the indebte~ow aec+~e+ed be~roby, aIl rl~; t~e, an~ ,_~t of, tbe~NortgaSaes io i'~
~ and to any sneh abat~acb af tids sl~II pw to tbe pun3~asa. ae ~antee .
S 1~. • Tbe A~a~.~on su.n b.~?e tb~ r~ in ib ai~credon, to ra~ute~ dmc tLe MaeE.aoe, po?~ iua tbe ll~od.tloa in .~ddt- :
Non'to the moatbly in~aDmeats af pdndpal aad inte~re~t to bs p~id bgr tbs Matg~goes wida~ tbe no~e sec+a~ed by t6b moetg~age,
~n-emamt equ~l~to ane~twelfth of tLe am?wi ~b af any mu~es aa ths permiiee levleel ar aaeared try aap .
;~a~rnomeabt au~ohitY, and aos~t~elfth cf t~s mau~l pe~amiums far F9ns and ~~t~~~~gis ioaaanoe aa d~s moetgaged
> ':~~~gba
a~e reqndred by tbe As~orhtioq aad tbe Matg,~gont ivhn+e to mdoe mc6 payma~b s1,aH oo~s a defauh
• •
: - IN WITNSSS WHBREOF~ d~e ~aid 1[aNgigon Let~a~o ~et tbelr ~ md aeaL fbs day aad ~~t ~tbuys writban. _
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' si~, ,e.tea wa ae~vrrea in d,s pcaaoas af:
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, . • ~ , • . . (SSALj ~ • -
~ . . . . . . , : . , . . . . Doris M. Radke ~ . ; _
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