HomeMy WebLinkAbout0610 ~I. b.;, +~is ,M,.a.....; . ~ . • ~ .r • : . . a
r1. .awn.wlL-.+~r~?'~~~~ar~/W++.Z.F~-~-:~!~'..:~'t..~ ;~Mti w _~.C ~ r'. ~
r ~ 7
- r
ths S~chp~m t~rh~i?be n?~de w?i~}t~bir6~. pal dwr dtae ~?e~it~i+a aotias iram tbe Ma~rtg~es
s~at~ t~he ~a~onnt~ o[ t~ daaaian~o~~ which aotios ma~ bs ~~en by mail. Ii ~t an~ ti~?e the I~tart~g~ur -
sball t~ndae to tiN Mort~~ in soooed~noi ~rith the rq~iNOn~ ot the nots ~scured harob~, iull p~~ment
of ~ ent,i» indebtAdner rspe~erent~ed~ t6~e~~, ths Mor~se ~ t~ut~es ~b~il, in cumputing the amoun~ oi
wch itidebt~edner, aredit t,o L6e ~ooount oi Lhe Mor~or ~ crsdi~ balancs rsmain~ng and~eprowions
of of a~id p~ It t6are ~u?11 be ~ de~suIL undar ~n~ ai t~he prori~on~ o~ t~ha m resulting
in apu
blio ~
e p~mi~e~ corered harsby~ or it the Mortgages ~oqu~ires the Pi'oP~Y otherw~rs dter
dst'~ul~, th~ Marf~sqee ~ tr~rtes ~hall aPp~y~ ~t t~e time of the oomim~cemani, oi wch p~eedi~gs ar ~?t
the time 66e Pe'oPe~ty i~ otharRi~s soquired, Lhe amount thsn remainin~ Lo az~edit ot Mortg~gor under (a~oi
p~ragt~ph precedm~ as a ctediL on th~ iqterest s
c c
u
r
e d i?n d unpai
d aa d t
he b
a
l~
nce t
o t
he nrinai
p
a
l e
n
remainu~g unpaid aa ~aiui ~otie.
4r Hi ~1l p~ ~D ta~, ~¦~mea~s„ watier ~ ol6ee~~eeamea41 at nawniaiP~l abar~, Qaa~. ae
~mporit3oo~. tae whieh pro~iioa lWUr aoL beaa m*ds oe~s, aad in da[~?ult Lbereot tbe Mortp~es mr~Y P~1Y ~
rm~e; ~od t~ha! Ire w311 peomp~r ddi~rar ths oBidal reeetph tldee~efa to t6e Mort~ee.
6~. Ha ~riII peemi~, oanmfR oe wiQae so ~r~ imp~iemea ac d~erioration ot a~id prop~lj? or~ prt th~
-~ooapt t~a~o~nabls was and te~e• ~ad ia tbs event ot tbs i~ ot L6e Mort~or t~o lc~eep tLs butldin~r on ~
pe~ecni~a ~od ZLaw ~o bs ereale~ +on ~id prani~e~, oe i~iaprorKmn~ent+r thareon. in ~ood rePair t~ire Mort[~,ee my?
m~ioe ruoh tepain ~s ia id d~re~ioa it msy dee~ neoearary fa: ~6e~~oper pre~erv~?tlon tl~ee~eo~~ ~ud tbs full am~wnt
at e~eh snd eveqr a~ p~y~aeat abail bs dus and p~yabls thirl~ (~u) days Jt~er demand, ~nd ~11 bs seaured b~r
t6~ lfea at t~6is mort~e.
d. He wiII py? ~Il and rnsul~r tbs oo~. ~nd e~pea~e~ inatudi~o~ rewon~bae 1*w3ror'~ iee~ aad oo~h
d~ at t+itk~ inawrred or pdd ~t aay tica~e~art~ee beoawe of t6e f,~ilure on the part ct the Mort~ .
~
o~ha*~ ~od e~pe~ea ~haU bs iimmedis~ dua ~rd p~,y~ble and ~~~i~a~ured b~y
t6e liea~ aniv~ott~yp.
7. Hs wiD eoat~nnousb? mainta~n 5a~rd i~nranos, oi au;L typs or sad amow?ts ~a Mortg~geis m~~
n
lyrom t~ms ~o tims rsq~+s, on ths impso~ameab now or hereatter on rai and exoep6 ~vhea pi?~meat
t'ms
toe all s~ch ~u~e~iums La~ therstoiare beea mMde wndar (a of p~ngr~~h ~ here~o~ Nill' ~,y Pmm~,~y when
~ . dns a~ pe+euninm~ t~sr~or. ~ bel~d
°°b
M~ ~~d b~e tt~?ch~th~~eret~o b~i
~~ib~cli
~ iMVOr~oi
eies and x+suewaL thereoi ~Lall be ~ rtgagros P,~Y
~ snd in form ~roaspt~?ble ta tha M In erent ai bas he will give imtaedir?te xrottiee by miW to Martgages,
~nd Martq~sg~m~s~ m~ts ,pn~ofa~~ ii not mads promptly by Martg~gorl aad e~h insur~nos o~mp~o~
oonoerned ss nuthorr~d aud dincted to m~ke py?meat for ruch 1o~s duactl~ to Morf~ee ~astead oi
fo Mort~~g~or sad ~ortgsgee 'ointty, and the insursace proc~eed~, or aqt part there~i mty be apptied by I~iorw
•t it~ option either to ~ reduct~inn oi t~e indebt~ednees L~ereb~ ~ecured or t~a t~?e restor~tina or repair oi
~P~P~J In er?ent oi forecloaure of t~s'~nortgage or othe~r trsaafer of tiWe to the mortgaged
p~opartj in eshnguuLment oi t~e indebtednees recured herebY, a~l right, title, ~nd iaLere~t oi tJ~c Mortga~or
• ~n and tA ~ insuraace palicue+ theu ia fares s~u~ll p~?sr to the purcLa~e~r or graatee.
• 8. ~He wilt not ezecute or Sle of record any ingtrument ~vhich impoaes s t~atriction upon the eale or occu-
P~Y W'oP~Y described herain oa the basis of race, oolor~ or creed.
' 9. If the premises, or any part th~reof, be condemned under the powar of emineat domsio, or acquired
far a public use, che d ea s~vsrded, the proceeda for t5e ~ of, or the conaider~tion for such ~c~quiei-
ea y
.•tion, to the eatent of th~ull amaunt of the remaining, unpud in ebtednea~ eecured b this mor e, ~ura
's o~~ bereby as~igned ta the Mortgsgee, and his heixs or ~eaangns, and ~hsll be p~?id forthwith ta eaid a~rtgagee
or his ~ee to be sppliod.on aocount of the last maturing in~tallments oi such indebtnees • pmvided,-how-
~ .4v~r, th~ ortgagee or hie asaignee, msy at his di,rcretion pay direct ta the A~ortga~or, his ~eirs or a~aign~
an~y part or sll af iuch award; pmvided~ that if the loaa is gwranteed or insured, the ooneent of the guarsn-
Wr or ~urer is obtained in adrance of gaidp~?pment.
10. The Mortgagee msy~ at ~y tiane pen
'dmg a suit upon this mo apply.to the oourt hsvin~ jurisciic-
Lioa thereoi for ~ appointment of a reoetver~ nad such oourt s6all fo~t~ a~pomt a e+e~xiver of tha premises
oavered hereby snd singular, incladin~ all i?nd singular the income~ proSt~, ~ssues, and revennes trom? what-
ever sow~ce derived~ each and avery of ~uch it beu'e~ ezpre~ly ~u?derstood is hereby mort~sged as ii apecifically
~et iort~? and daaribed in the gr~ntiag an~ habsnduza cl~usa bereoi. ~uch sppoiatanent ~haU be made by
su,ch ~oowrt a~ an adznitted equit~? and a matter oi ~bsolute right to ssid Mortgagee, and wi3,hout reference to
the ~deqwcy or iaadequaay oi tha value of the property mortg~ged or to the eolvenay or insolvenay of said
M r or t6e defead~nts. Such sents pmfits, incoma, i~sues, s~d revenua ~hsll be applied by such receiver
•oooa~~ to ths lien oi this mo w~ the practice oi ~uch oourt. In the avenlt of any deisult on the psrt
of the Mort;a~or hareunder, Wre~rtga;or a$reai to p~y to the Mo oa demand u a rea~onabls monthlv
rental far tb?e premira~ an amount~~t leut eqwvi?lent to oae-tweltth oi t}ua~r~s te of the twelve monthl'y
. iastallments payabk m t,he then current yaar plw the actval amount of t~s annual t,~xer, areMnnenb~ water
rata, aad in~uraaoe premiumr for ~uoh year not core~t~ed by the atoreisid montLly p~y~enb.
11. In ths erent of any bre~ch of th~ mortgage or deisult oa t~he p~rt oi the Mortgsg~or, or ia Lhe even6
thaL iay of u?id ~ums oi awney hereia reterred to bs not pmmptly and fully paid according to the t~enor hee~oi
or in the event th~?t esch rad ewery tbe stipul~tian~~ ~gr~ementa oonditian~~ and ooven~nta of said note s?nc~
this mortgage~, sre not dulp, gmmptly, aad fu11y pertormed or i~ the Mortgag~nr be sdjudicata'. bankrupt or
made defwdaat in a bsakruptcy or receiversbip Proceedingss tban in eitLer ar say such eeent, the said aggre-
1 gite aum mentioned in oaid no~e then remunu~g unpaid, anth interest accrued to that time, aad ~ll money
ai
.ec„r~d hereby sh~?ll became due and payable far~hwith, or thereafter, ~t the option ot said Mortgagee, ~ur
fully aad oomp~etely a if all the said sums of moaey were originally stipulwted to be psid on such d~y, an~-
thi~dg in asid note or in this mort~age to the contrar~ notwithstanding; and thereupon or thereafter, ~t the option
oi swid Mortg~g~e, w?ithout nat~ce ar demand, ~uit at 1Nw or in equity, may b~ prcx~ecuted i?s if all manevs
•ecured hereby had matured prior to its institutioa. The Mo~ raay f~r~cloee thia martgsge, as to tf~e
amount w decl~red~ due aad p~y~ble, and the s~id premiser ~ha11 sold W satiatq and pay the aa?me together
~ ~*ith co~4s eycpene~es, ~nd allowr?nces. In caee oi psrtial foreclosure of this mortgage~ the mortgaged prccn?ses
~ ahatl be eo~d subject to the contanuing lien of this mortga~e for the amaunt ot the Aebt not t6en due and ~unpnid.
In auch caee the provisions of tbi~ parRgruph uuy aga~a be svail~d of thereaiter from time to time by t.he
Mo
I lr
2
No ~r~iver of sa~ ooveaant her~in ar of t~?e oblig~t~ion ~ecured hereby shull st any time th~resfter be
b~eld to be • w~iver ot tbe t,erms Lerea4 ar of tbe note eecured hereby. ;
13. The lieu of this instrumen~ ~hall rem~in in full fone and eBect during ru?y postposemeat or extensioh
04 t~, t5me oi psyment oi tl~e indebtednar or w~y p~rt thereoi racured hereby. G~ ~
1 14. This is given ta recure the purch~e money, or ~ part tbereof, of the land~ hereia deseribed '
i and is execut,eddl ~elirr~ed oontemporaneouslp with tha deed thereior. ~
' 15. If tbe Mortgag~or detaul~ in any of the aovea~nta ar agreamenb ooat~ain+ed berein, or in said'note, t,he~
~ tbe Mortgagee may.perforia the rame, and all ~spenditeuer (i'ncluding reawnsble astorney'r fees) inade by tt?e
M m~o do~ng ehsU draw interest at the rste pmvided for in the principal indebtednc~es, ~ad ~h~ll be .
nps~ab~e
thirty (30) da?ys ~?iter dsmmand~ and~ t,ogether ~vith int,er~st ~nd owts saerued thereon, shaU be secured~l
b, ~ .r-~
18. Upon the request ot #be M ageo the Mortg~g~or ~hall aicecu~ aad delivee~ a wpple~nenw note oi+~-~1
notes far tLe aua ar sun~ ~dvanced
b~y
tha Mortg~ee tor the alt~at~iaa~ ~oderniswtion, improrement, main-~o
te~nance, or np~ir of said premi~e~, for t~xes or as~asnnents agsiast tbe st~me oad for an~ oWu~x purpo~e ant~or- ~
ised Lereue~d+e~. $~id no~e or note~ ~hall be ~ecwred bereby on a p~ari~ty ~ritb and as fully as d t6e ~dv~nceG°`~
$ id
a~ideooed tbaebb~ were iacluded iu tbe note de~exibed ~l~o~s. Said suPplemsat,al nats or note~ ~hnU beu ~
~ - - - . ~ . ~