HomeMy WebLinkAbout1453 ~ • w. w .r ar . 1M.i ry~.~ ~.>y... T ~ .K.!.- : .Fi ~...r . '
_ ~YIiI~ ~Y 1 71W.- ~'..K~~,•...~ ~y~~It'aM~.'~•y~
.J.yn~1~.~r.."~y G~#3e . .
J th~ d~8owno~. 8ne6p~~m
en~ ~hall bs made within tbirt~ (30~ d~r ~tt~ae writt~n notia h~om t~hs Moctt~
st~? ' t6~ ~eoonat oi tlu d~Aoianc~, which uoiioe m~~ bs_ p~_~ b~ mail. Ii st ua~ tim~ the Mor~a~or
• rhai`l~t.naee to ~h. ~doee~ ;u? .~ooo~t~d.nae ~rrnilh Lhs pro.~io~n. at ch. twa .eot~rsa herse~, rult ,Wment
vt th~ ~nt~ia~s indeb`edn~r rspr~e~ent,ed ~6ereby; Yie Mortg~~es• ~r t:u~Les ~?11, iew ooonputing the amoan~ ot
wch indebt,ednaw, crodi0 ~o the ~aoount ot We M any credit b~lanos • . uadee the pro~ions
ot oi ~idp~?r~rsph Ii thers ~h~ll be ~ det~der an~ oi the pro~~is re~ultang
in a~
Wic ~ale ot W~e pee~ni~ oovared hereby, oe it the Mortgrgee uoquu~ t6e Pr'~P~7~~o~~er~rne atter
def~ul~~ t6e Moctgrgee as hv~Les rhall aPp1y~ ~t the tima oi the oommencsmeat ot wch proceeding~ o~r at
the tiaue the praperty i~ otbar~?i~e aoquired, the ~?mount then remuiaing Lo credit ot Moctg~g~or under (a) oi
par~ruph ~ praoediae a~ a credit on t6e interest aocured nnd unpaid and the ?r~?Isace ~o the priaeip~J t6en
re~noiunwg unpad on ~id nots.
4. He wllt pyr ta~ a~e~uaeaY~ w~ee ra~ stid aRlrer i~1 ae mnaidPd e6ae~ ~ae~. oe
~
~
t6~ ~ pe~o~? de~~~ee~ol~l ~t~etee ~o~~~
~ ~ ~T p~11~ ~
6. H~e wlU parmit, aommit, ar w~d[ar ao w~ ~R a ds~ionlloa a~ M1d properb oeb~ ther~
~oe~p~ re~oo~LM rraas aod t~eir• red ia t~ ~re~nt ot ths hiiurs al the to loesp t,6~ oa
~ ~ ib drocetion ~ ~ « ~P~~~~ ~ aad l6s~amount
~u~,~o~d, w~a11 p~,ymeai ~ 6+e~dus ~nd pyr'a1~Me thirf~' laul dsy~
at~~~de~n~oRl~ ~ rb~tl be ~e~outed ~j?
1 J ~ !~W ~ iWi .
. ~ ~ ~ ~I ~ i~ ~1i~ ~ ~i~~t~
i~ l~pE~i ~IIQli1t~A~ i'EYO~O ~wye!'~/ tE~ ~ 00~~
0~ ~'M1li+~t~ Ot pM~ 1t i3y ~m0 Dy t~DO AIOT~~ds ~OilMO C~ ~0 ~~Ul"b OR WIO ~ OE ~0
~ ~+OrIt~I i~ t0 ~C~ ~A i~'lE~b A~ OOO~iIItA Ot p[~OO~MO~ DO~C ~?~IL
~lil~0~ ~~tE~ ~ ~ ~ d110 ~ ~ a~ ~ ~ ~0011~"Ed ~E ~II~l110!'~.
OOIILtili01~ IbWI~~ bW~ ~i11lL~~ 0~ N~ Z]~ Ot~jpe~ ~~IR4N1lv it MOl'~g'igib0
i~+om time t~o tims reqe~ire, on the impro~ament~ ~o~on or Iraresiter on ~aid - and except ~rben pr~ment
~or all a~c6 pre~miums bir t6ersto~ors been mude under oi paryCraFh ~rLe~~e will pay promp~r wbe~
das ~ p~eniiums Llw~atar. All iawrsaQe rLall be ~ried in comPanus iPPro~ b~ Mor~a~ee aad t6e poli-
eie~ aad reaswau t6eebot ~Lall be beW b~ Mortgag~es aad hR~ ~tt~cLed t6ereto bas pay~bk cTiu~ in fa~or ot
. and ia fosm ~a~spZabls t~o tbe M In eveni oi bss he will give immediste aotice by mail ta Mortgages,
and Mart~igee my maks pt~ooi~~ if not made promptt~ by Mortgag~o~r, aad e~h imuranos oompaq7
~oou~oerned u~ her~eb~r sutiwrissd and direct~ed Lo mak~e pi?yment for ~uc~ l~oes directly ta Martgagea~ir~t~d oi
~o Mo~rtg~r and Mortg~g~ee joinW~, and L6s inuranoe pi~ooeeds, os' aq~? Part ther~e~f m~y be ~p~li by biort~
~age~ at it~ optioa e~tLer to tbe reductioa of the indebt~sdne~s herab~ ~ecured or to t~?e restont~on ar rep~ir oi
t~hs propert~j damaged. In event ot forec3oeurs ot this mortg~g~s or other trRaster ai title to the mortgaged
• p~o part~~ ia t of ths indebtsdne~s seeured Lereey, a~l right, title~ snd iat~ere~t oi t~e Mortga~o~
ia sad to sq~ iasuraaos poliaiee t~en ia faroe ~6i?it pa~s to ths purcha~er or grsatss.
8. He will nat tzecate or 8ie of record aay instrument w?hich impoees a restrictioa upoa the sale or oaev- ,
pancy ot tLe propet~y de~cribal herein on the bwsis ot race, oolor, or creed. ~
9. It the premises, or uny pRrt thereof, be condemned under the power of eminent domain, a~r.~c•quired .
for a public use, the d~ee Awa?rded, the proceeds for Lhe taking of, or the conaider~tion for snch'acquini- :
taon, to the ezteat of the ull amovnt oi the renasining, unpaid indebtednees secured by this mortg~ge, ure :
hereby ~saigned to the Mort,gag~ee, .end his heirg or as~gna, arid shall be p~?id forth~vith to asid Mo~-
agee',
or his ee to be appli~ed on account of the lsst maturing inetallmente oi such indebtnee~• provid e d~" ho~v-
ever, Lb~ortg~gee or ~ie ass~gnee: may ~t bia discretion p~?p direct 8o the Mortg~gor, Lis ~eian or .aesigns
~~y part or alt oi such award?; provided, that it t,he losn is gusrsnteed nr insured, the ~onsent o# the guarsn= , .
Lor or insurer is obtaiaed in adrance of saidpaymea~. ~
l0. The Mortg~gee ~aay~ ~L an tin?e pen
'dzng s ruit upoa thi~ mu ~pply.to the caurt havinR jurisdir.-
tio~ thereoi for the ap intment o~a rece~ver, and rueh oourt ah~ll to~t~ a~poiat ~ teceiver of t.he premise~
oovered hereby sU ~sin~ular, iacludin~ ~11 and singular tbe inoome, pro8t~, asues, and re~saues from wh~t-
, everwource denved,,each and every oi ~vhich it ~expre~ly under~tood is hereby nwrtQaged as i~ specifac~lly
set forth snd dacnbed ia the ~mting auc~ hsben. um clauses Lereof. ~u+eh ~ppointment sh~ll be made by
such court as run admitted equity and a matter oi absolute rigb~t to ~sid Mortgag~ee~ md without nierence to
the adequacy or inrdequscy oi tbe vrlue of the property mortgaged or w the wlvency or insolvency of said
Ma ~g~g~o r or the detendont~. 3ueh te~?ta pcafits~ ittt~rtte~ ~seue~y snd nvenuea shaU be applied by ~uch r~ivtr
acco~ 'rd~ng~ to tha lien oi thir mort,gage anc~ the practice ai such oourt. In the eve~nt ot aay default on the put
of tLe Mortgag~orhereunder, the Mortgsgor aprees ta p~y to the Mo on demand as ~ reasonable mont.hlv
rental fdr the pnmise~ ~n smount~at least equivalent to ono-twalith oE thea~rega te ot the twelve monthlg
i,nstallments pay~ble in the the~? current year plus the actual amonat oi the aaa~u~l taxes, se~eesmentr, water
ntes, and insurance pr~miuau for such year not oovered by the ~tores~id monthly p~yments.
' 11. In the event oi any breach oi tbis mortgage or detault on the part of the Mortgagor, or ia the event
t~ut aay o! ~id ~ums oi uwney herein reterndd to be not promptly ind tully pa?id aos:ording to the tenor hereot
or in the evmt th~t esch ru?d every tbe sti ulntions, a~reements conditians, ~nd covenants of said nots aa~
u
this ~age ~ are aot duly~ prompdy~ , fully performed or i~ tLe Mortgsgor be adjudicated bankrupt or
made~defe-
dn ant in M brudkruptc~r or recavenhip proceedin@rt then ia either ar any ~uch evetrt~ the s~id sggre-
~st~ suza mentioned in said aote then rem unpaid, rvath int~ere~t accrued. w tlut tirae, and all aaoney
e ai
' ~eccured lrereby ~hall become due and payab~orthwith~ or theresfter, ~t tLe option oi ~aid Mo , as
fully wd comp~etely a~ ii all tbe raid ~ums of moaey wsre oxi~inally atipulated to be paid on such ay, ~nr-
tbiag in ssid aote dr m t~is mort~age to the o~?trar~? notwitlutaading; and tbereupon nr there~ttrr, u6 the optian
oi said Mor , without notace or detaand, aut et law or ia equity, msy be prosecuted as if all tnonevs
~ecured hereb~y~iud mst~red prior to it~ institution. The Mortgagee m~y foreclo~e this mortgage, a to;#~e
amount ~o decl~red due and psyabie, ~nd the ssid premises sbsll~e rwld to utisiy snd pay the same Log~et~ner
with costs expenses, and allowances. In ewe af partial foreclosure of this mortga~e, the martg~ged prec~ses
~hall be so~d ~ubjec~ to the uontinuing liea of this mortga~e tor the ~uaount of the debt not ttean due and ~enpi?id.
' In such ca~e t~e provisions of thi: parsgraph may ag~a be av~iled of thereafter trom time to time by the
Mortgag~ee. ~ L~nin or o; th~ o t,ion Nourod l~er~b sh~ll ~t w toim~ thece~tter b~
1~. No ~irns ot ~ ~o ~aa bl~ r r m`
beld to b~ s wd~ec oi 66e team~ ~of or oi tbe nato ~ecured ~e~+eb~. ~
13. 1Ru liea ~t thas in~trumant tba11 remaia ia tull torce o~r?d eHaat during say pastpontment or extension
ot L6e tim~ oi ps~meat oi the indebtedne~ or any part thereoi sscurad hereby.
14. Ttw ~a~ i~ ~i~p? t4 ~ecur~ ths puschwo uwna~, a+e a put thers~t~ of t~s lwd~ hereia dncribe~
imd i~ ~aucr?ted~and de~trered ooo?t~mpau~eamrl~ wit~L tLe derd t~?earsiae~.
md
~ 18. It ths Mo~~or detsull~ In ~n~ of the oovaumts or a~reeme~t~ oont,ainsd he~ein~ o~ in ~d nats, t6e~
, ti~ Mee~t~~ee may~perloim tLe wme, ~ad all eupe~dit~ira~inciudin~ reasonable st,ton?ey's fee~) mado b~ the i
M m~ ~o ~Lall dnw iwt~eres~ at tiw nt~ pro ed tar ia tlu principal iad~ebtedi?eN, ~ad sb?~ll be
+ ~L
~ r~P~?~~7 y~ ~tt~er demand, aud~ t~athee N?ith iate~at and oats ~ocrued thereo~~ shall bs ~ec ~
~ ~ ld. Upon tirs requesti at the M tihs Mor~y,+oc ~hall exeeute ~»d delivee r wpp~ntal a~vte ot~t'~
~ notes ia~ ti~ am er sum~ id~~aoed b~ blort~agee fac tbe alteratan~ modet~n~isstion, imp~o~esuent~ maiat~r'i
~ teaanos, o~ rsp~r ot ~aid p~+e~ti~e~~ for t~ or we~neats a~insL the Mme ~nd for any ot~rer purpae ~ulthore~°o
i:ed hareuad~. $~?id note ar nota ~ii be ~ecured herebg o~a s p~n~ with v?d as fully ~ it che advane~,.o
~rideuosd tLersby we~+s i~eluded in t~ce note firsL deecribed ~?bo~e. ' supplemental n~ce or u~ote~ rhaU bear
' e a
~ ~