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8. Uat~ defauh ia t~r ~ at d~e oo~i~ea~nti aod'a~ea~ae~its tioE tLi~ mwrt~aa6a, tbe awrt~on tl~ll b~ w~tlded
W oodei,t tL~ rants, Mn~e~t and p~nE~s b~an tLs p~+ami~as berdnbe[ars da~aibed. but ~ ase oE a dehuk io ~ar oE tbe beetn~ of .
tWt nowet~s, ~ad t~ af a 6[B ~o tureclo~e thi~ ar in otl~er mo~t~a~s anc+nmibe~ns tbs vvft6in das~s~ed pro~eitr. tLe
n
~ ~ As~ociatiou sb~H ~ad v~r~ notice be ea to t6e ~ppo~utmeat o~' • Aeoeive~ tif tLs ~aroetgag~ed . aad
ad
of tbe ronts. iaues and Ib thaeof, w~h tbe usualpo
wer of Reoeiv+er~ In su~ case~. aud such Receiver may oantinued
in potx~ba cf d~e said propetty uaHl tbe ti~pe cE the ttle thereof under st~ foceclosure. ancl umtil the oo~nfirmatto~ o# s~rc1? ~
sak by the Onurt. .
9. If • conveyaace ~1wuW be tnade br the ayortgagas aE tbe pracni~es here6, desc~ibed, a~ anypart thereoE~ without
the wsittcn conaent of the As~ociatia?. and witbout assumptioa in reguLxr form af 14w by tbe gr~nten of tfie o~tio~ to t~e
Assaciation created by said pr+o~nit~ory na~te ~nd tbis mKt gage, thcn, and ia that evant, and at tbe option of the Astociation.
c?nd ~vithout notice, all sums of mc.iel? aocu~ed hereby shaIf immediately and ooncurrmtlv with :uch canveyance beoome due and
pryabk and in default, The Aseocjation may deal with wcce~sors in interest wit~ raference to thi~ mortgage ~nd the debt hereby
~ecured hr the snme u~aan~.~r as with the moctgagas, and mxy farbear tn n?e or awy estend time for payu~ent of the dcbt, seaurd
- ~by, oct,~„?~ ~c ~~~c d~g or in any way aEfechc~g t}re liability af tbe rnartgagnrs hereurnkr or upo~a t6~e debc
hereby sccured. The As~ociatiom m~y deal with tbe Mortgagon and/ac with suoces~ors in interat wieh refenmce to tLis
mat~age ancl t~ie debt hereby secut~d by forbearic?g to sue, eztendi~?g the time for pnyment oE tl~e debt, P~'uvidin8 far different
.aa~tlalY P'~Y~~b aud/or a diffancnt inter~st rata~ and by other e~cpress maclificatio~as ~ the oa~tract, without baing any priaricy
t6e As~ociati~ has over othe~r mortgagccs or lienors a~ holders of any fwiior interesb in the property acrured bereby.
10. That in the event the premises hereby mortgaged, or uny ~mrt thcreof, sball be candemned and taken forpu
blic use
w?cler tlie power af eminent domain, the Assc~ciatioa shalt havo the right to denwixl that s?11 damages awarded for tbc txldng of or
damages to aaid premises shall bo peid to the Associstion, its auccessors or assigns, up M the arnonnt unpaid on this mc~rtg~ge aad
may be applied upoa the PaYmient or pay,neu~ last payabk thet+eon.
11. It is spocificaAy agreed that ticaa is the essence oE thia contract and that ao waiv~ of any obligation hereuader or of
~ the obligation~ecund hereby ahall at ~nuy tim~e theieaEter be beld to be a waIver of the tesm~ or of the inatnunent secured herebp.
12. If foreclosure proceedingrs of siny second mortgage or seoond tnut deed or any iuniar llea oE any kind should bo ir~ti- -
tuted, the Asxociation may at Its option, immediately or therea#ter declaro this moctgAge and the i~debtedneas ~r.cured hereby doe
and payabk.
13. To the extent of the indebtedness of the Mostgs~gora to the Associncbn de~csibed hercirx or securod beieby, the Assa
ciatjon is ~hereby submgated to the liea a: tiens a~od to tbe righb of the ov~mers s?nd holden thereoE of each and moztgag~e.
on
l~en or utl~et esrrumbrance on the Iand described h+a^ein which is paid and ( or ) satisfied. in whole or in pnit, aut of
of the bu? dexribed herein or aecured hereby, aird tbe res~ec.tive lieru of said mo~ctgagea, liena or other ennimb~xnoa,s, ~
te~ ~nd be held by the Associatian herein aa ~ty #or the indebtedness to t~e A.ssociatiai t~n dorcribed or ~by secured, to
the same exttnt that it would have beet~ p~es~rv~ed and ~vould buve been passed to and bcen held by the A~sociaKo~ l~ad it beea
duly aad regulArly assigaed, tsansferred, set over sud delivered unto the As~ociatioa by separate dee~ of a~signaxnt, notwiths~nd-
ing the fact that the same irwy be satisfied and canc~lled of recard, it bcing the intention of the porties hes~eto that the same will
be setlsfi~d and canoelled of record by the boki«a thereoE at or About the time of the rroording of this mortgage.
14. To pay all and singular tho c~ta, charges, and expenscs indudiug lawye,r'a #eea, reoao~b1y us~ured ar paid at any
time by the Association, because of the failure of tha Mortgagors to perform, compty with and abide by each and every stipula-
tions, agreementi, conditions and covensnta of said promissory note and this deed, or rither, and every such puyment shall bear .
~ int~erast frum date at the rate stated in the aote sarured hereby. •
15. That be willp~mi
t, commit, ar suffer rw waste~ impalrment~ or deterioration of aaid ~perty or any part thereof;
. anci in the event of the failure of the Mortgagors to kcep the buildings a~ said~e mise: anci tLose to ba ereeted oa said p~rmises,
or improvemmts thereo~n ia good repair, the Asssc,ciation may make and pay for such rep~~ra na in ib disc~ne~on it may deem
As c
for the p~nperpreservation thereof, and tbe full auwunt oE such payments shaU be secured by tbe lien oE thia mortgaga
and at the option of the Assflciution be immediately due and payable, or Fsayable in s~ch monthty ~ts a4 dse Associa-
tioa may determine, und every such payment shall bear interest from date at the rate statod in the uote secured hueby.
18. That if tbe Association and tbe Mortgagozs agree, tbe Mortgagors will carry a po~cy or policies of ucsornnce upon
their lives in an ar~leunt equal fmm time to time to the amount of indebtedness hereby secur~d, ma~ng aaid Association benefi-
ciary thereunder, and that the said Association may pay the premiums for such insurunce (ia tl~e tvent the Mortgagoirs do not),
and add eacb such payme~t to the unp~ balaaca of the loan, as of tha first day of the then current maneh, and it sl~all beeome ~
additional indebiedness serured by 'ttua mortgage payable upon demand.
17. That in the event that this mortgage be given to secure a construction loan, failure on the pait of the Mortgagors or
tbeir conhuMors to complete said building in accordance with Construction Loan Agrcement, o# even date herewith, or to build
• said construction in aocordance with plans and speci~ications filed with the Associarion, shall oonsHtute a breach of this mortgage,
and, at the option of the ~ssociation~ immediately mahue the entire amaunt of prinsipal and irlterest hereby securad and the Asso-
~ ciation may immaiiately institute praceedings to foreclose this mortgage.
18. That the abstract or abstracts of tide covering the mortgaged property ahall at all tunes, during the life oE this mort-
gAge~ rernain in the passessIon of the Association and in the event of the fareclocure of this mortgage or other transfer of title to
the mortgaged property in eztinguishrnent of the indebtedness ~ed bereby, all right, tide, snd interest oE the Mortgagors in
snd to any such abstracts of title shall pass to the purchaser or gcantee.
19. Tbe Assoeiation shall have the ~right, in its dlscretion, to require that the Martgagars pay iato the Asaodatioa in addi-
tian M the mont}?ly instaWner_ts of principal and interest to be paid by the Moctgagors under the note secux+~d by this mortgage.
aa amount eqnal•to oae-twelfth of the ~nnual instullmenb of any taxes an tbe mortgaged premiaes l~vied ar as~ by aay
govemmental autbority, and one-twelFth of the annual premiums for Fire and F.atended Coverage insurance on the niortgaged
pr~mises as herein6efare required by the AssociatioQ, and the Mortgagors' failwe to make such paym~nis shall oonstitute a default
under this uaortgage.
. IN WITNESS WHEREOF, the said Mortgagors hereunio set their hnnd9 and seals the day and year first above written.
~ " Signed, ~1ed and delivered in the presence of :
_.c ` •/s+-• • ~'_'___~iir.!!Q-Y:
-~.~(SEAL)
Edmund M. Radke
. _ . .._..~._.~~~~~1~.~_~~?~',~
_k. __.__._~s~..>
~ Dorie Radke
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_:_......__.._.._..____(SEAL) . ~
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