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Home My WebLink About1442 ; . r....f ~ ~ 1 ~.i M.t 7 1~s ~.T,r...~•w. ti • - - € ~ . .~0~ Z? . ; ~ . g: .+r~YVJrrw <t ~ . i ~ . . ~ti.~ ~ r~+~.L•.1..~.. - _~,r~t a-bx ~ Q ~ • 1 . ~ • P ~ Y ; - ~ ~T`1 ; • A~ ~T.t~ a.t~dt ir ar p~eiaKww~o. aE dwr oo~e~rrb ar~ a~a~aris~ S~~ar~i~ ~tp~ ~i» .aeqp~ow ~16..~titLd ~~o ooWd e~ i~ I~w+r M?d 6~r dw peroie~ M~ieb~6o~s dMarib~d, bot in aw aE s de~iWt ~ ahr aE dir wsti af A~od~~dWl ~ ~wltlra~t aoti~ns b~ ~ m lb~s~ ~A~orw~r ~ ~ ~ p~~c~ert~r~ ~ af tbr ra~ls~, iwer ~ eM~eo~ wrl~? tlrs uwalpower a~' Reodv~ees~b ~iuoli crse~, apd wd~ A~oeiwr~ b~ _ o~i ~wed ; ~poae~ a~~ a~l p~op~a~ty ur?td t6e t~ne aE dre ais thereaf uader a~ k~eclnr~rs, aod un~i1 d~e coo~ioa of wclY ~ ~ 8. ]f : convryaac~ t~6oWd be ~slsb~r drs nooetgagors af the premi~es l~arelu ~1e~resibe~ ar ~nnyp~rt draeeaf, witbawt tl~e written oonse~?t of tbe As~ociation, aad wlNaut ~tmm~ptiaa in reguLr ~arm oE l~w bp tbe gr~~Ees of tbe ~tioa~ ~o tl~e Ax~o~tion a~o~dby xid p~o~o~y note ~r~d tL~ age, t~q wd in t~t ev~t~t, and ~t the aption oE tbe As~ociation, aad witbont nocioe, all auns of maney secuned ~hy~ iramediabe}y and coaparr+end~? wfth such c~c+ave,yaacre beoome chre ~nd payab~e aod !u defsnlt. T1~s A~uociadaa nory de~l wit~ a~ooe~nara i~? ineerest with rofa~c~oe bo thd ~ort~age aad tLe debt~? .~a~?~~,~u~~~.~,.~am.y~~to~a~y~a~~.r~r~t~~a~. lbreby. ar aR~erwi~e +wet w~o~ut a in ~ay way affecting the liabil~? a: tLe mortgagas hereuodar or upoa the debt h 1~ebp seesurd. 1'!~e A~oc~tlaa mad y~a do~l w~? die A[o~tgagors a~/ar with wooe.s~o~s ia iaten:t vvitb referanc~e o~ tl~ : mo~~e .na ahe aebt 6~e~sec,n+~a b~? fo~e~rtug to ~e, ~cc«~d~g ax+ cimo far p.ymenc of the aebt, r~m?iding for aiffa+enc raon p~ymauts a~d/or a t int~r.at s~te. and b~ottrer eYpe~a m~oc~ificstiom~ af tbe ca?trnct, without la~g an - tbe Ar~oc.iatyon l~ a~?~ar atl~er mortgagees or lienor: or of wy junicirr ~te~+ests iri #!~e propreety securrad h~by, y~nty ~ x0. ~n,.t ~ ~ ~c r.t~ ~y ged, ~ ~y c~, ~ ~ ~a~a .,~a aa~ ~pu~ ~ tuKkr tbe powrx of ~t domain, tbe A~ociatiaN~hwve the right to demund tbtt ~11 damuges awarded for tbe t~13ng of or daYryrga to snid premi~es sh~il be pnid da d~e As~ociatio~n, it: :uoae~ors or usig:?w nP b t}?e ~awemt uupdd aa t1~ matgage and ~Y ~ ap'Pl~ ~P~ ~ P~Y~ ~ P~Y~is L~t pqyable tt~er~eon. 11. It ta ~y ag~ed that time is the es~?oe aE d?is eoatract aad tbat no wsivrr ~ any ob~Hgat~ ber~undcr or of the abUgatiaa secured Larvhy sl~ll at any tir~e thereaft~zr be beid to be s waiv~er af the terrns ar of tlre insdvmaut secur~ed ba~eby, . 1Q. If foroclodur+e proccedings of aay reoond mort~age ar seoond tsust deed ar aay junior liea of any kind should be i~ti- tuted, tbe Asmaistloa nwy at its optbn, immediat~clp or tha+e~ftar dedare thLs matgage and the inde6te~ ~ec~ued I~+eby due aad payable, 13. To the ettent aE tl~e iadebte~s of tha M~tgagors to the Assorfation dercrlbed berciu ar secured hen~y~ tbe Asea datiaa ~ beroby wbrog~tled !o tbe lien ae llens and to t[»e rlgbts of the ovvners wd Loklers thereof o~ a~ch and~vary Len ar otber es~cumbsu~ee aa the la~nd desarib~ed herc~ein which is p43d anrl(o~) sut~fied, in wlw~k ac in part, o~ut oE the~&~8'~• of the b+n described hee~tr~ a securad bcreby, and tbe respeetlve liaa of aatd moctgREa, lie~ ar other er~c~unbcanoes, a~ ta end 6e held by d~e A~ociatioa Ixs+tin as far the Indebtadneas to tbe ~,asoc3atioa bernin deacn'bed or ben+eb~? savre~~ the samt ex*.e~t iha! it w~a~ld bave bcm pn~ and wonld have beeu pas~ed to a~nd been 1reWby iLe A~sodrtioa btd it been dnly aod regubir~y wafgned,, transferi+ed, set avar ~nd delivered untu the l,ssoe~iatiaa by ~ap~rate d~eed cif ~t, n~otvvithrtand, iag the faet thnt t}~c aame may be ~tisfied and canoelled of reoord, it being tbe inta~t~on of ti~a pottias bereto that the ~me will be srtisfied and eanoe~ed af reoad hy d~t halde:s the~+eof at ar about tbe tfine of the reao~ag of this mortgage. ~ 24. To pa~r aA and singuLr tbe oo~ts, chargd, arrd expenses indud3ng lawyer's faea, x~ub1y inc+ured ar p~id at any time by tbe Association, because a~ thc failure of the Mortgag°rs t° Perfam. ~anp1Y with and abide by each and tvery . tions, Agreernenb, co~ditians and covenants of said promissory ~te und this deed, or cither, and every such payment shatl bear . 3~,t~eat iroan aace at tb~ zate scated in ct?e uote seeurea t~ereby. " 15. Tbat be willpe~i t, commik or suEfer no waste, impairment, or ~deterio~ra~ of aaid prcaparty ar any p~t thes+eof; arrcl ~r, ihe eve,ut of the af ~we of tbe Moctgagora eo keep the bwldiags o~ ~aid premiaa~ and t}~ose to be a+ect~ed on said pcemt~es, ' ar impro~ts drereon in good r~epair tbe As~ciatian may make and pay f~ch os m ib discretion it may deem for tbe g+nper ~?tion d~~caf, aa?d d,e full aioount aE surb paymer,ts ahall~~e+cured by the lka oE thh moctgtge ~at the opcio~ ~Ass~:tatiar~ be iminediately du~e u,d PeYabk. o~' P~Y~bb in suc6 moathly i~allmenEa ~ the Associa- - t tio~n m,~y detes,nine. and every such payrnent shall bes~r interest from date at the rate stased tn the note aecvred hcreby, 18. That if the Associatidn and the Mortgagors agtee, tha Ma~~tgagars wili cany a poii~.~y at policies of in:aunnee upan tb~ir lives in an a~lbunt equal irom timo to tune to the amount of ~debtedness hereby sec+ued, mairing aaid As~ociation bcnefi- cinry t6ereunder, and t6st tl~e said As~ocistion naay ythe premiums for such insuranoe (in tho event the Mo~tgaga~s do not), ot and add each such payrnazt tv tho un~id balance o kbe loaa, as of the first day af tbe then c~urent mo~nth, and it shall become additional indebtedness secured by tfus mortgaSe PaYnble upon demand. 17'. That in the svent that t2~a mostgage be giver? M secure a c~oaubruction loan, failure ou tbe part o~ the Mortgago~a or tbeir coatractars ta ao~apkte ~a,id building in sa~aacdan~e with Constructiar~ Loan Agreement, aE eveu date herowith, or to build said constnsctioa ia aocoid~e wlti~ p2ens and rp~cificationa filed wirh ihe A.s~ociation, ahall const~tute a breach of thia matgage, . and, ot tbe optia~n af t}~ Associutioa, immediately matura the entir~ amount of princiiml and interest hereby secured aad the Asso- ~ciatioa awy ima4ecliately institute pcoccedinga M fareckse ti~ moztgage. 18. That the abstract ar abstracta af title oover~ng the mortgaged property ahall at aIt times, durir?g the life of this mort- gage, remnin in the po~sesaioa af the ~SSOCiatio~ and in the eveut of the Eareclosum of ttefs mortgaga or otbe~r trs~nsfer of title w the zreartgagcd propcxty in exHnguishmen# o£ the indebtedness secured hereby, aIl rlght, titlc, nY?d intere.st oE the Mortgag~rs iu swd to any such Abstr~cb of title s1~ll pass to tha ptiu+chaarer or grantee. , I9. T'he Aa~ociation aball have the rfght, in ib dla~Soa, to rec~uiro that tbe Mo~tgag~ puy into tha At~ociation in sddi- tion ta the monthly ins~Anoenb af pricicipai and intaeat to be paid by the Martgagars ws~dar tbe nate securod by t}~is' mottgage, an amounc squal • to ono-tw~dlFth a~ tLe annual Installmenta of say taxea on tbe mortgagod pe+emises 1Ewkd ar ast~sed • bY +~'~"Y gov~rsunental sut}writy, and or?e~twelfth ~ the ennual pc~s fa Fire and Ertended Cavrrage insurance on the m~tgagad premises as hereinbefore required by the Association, and the Mortgagers fsiluro to ~a1ce s~ch payments ahall constitute a default under this mortgage. IN WITNES$ WHEREC3F, 4~?c said Martgagors hcreunta set thetr harsda end aeals the day and year Hrst above writteri. ~ ~ Si , and delivcrcd in tbe p~ of: ~ . r. . . , ~',a[II11At~ M. F~BdICe ~ _ f(SEAL) ~ r~ ~ `~el.' - . (SEAL) . , , r-._...._~......_.___._.._~.......(SEAL) _ •--------------~SEAL) j ~t~~ z~o g i ~ ~ 5 _ ' _ _ ~ ' ' - - - _ _ ' I~