HomeMy WebLinkAbout1307 I`
f
~
r
~
(
1-~. Ii the indebtednees seoured hereby ia naw or hereafter turther eeanred by- ohe?tLel mortgsgt+e, pledg~ae, oonLrsots ot
guaranty, assignment8 of texees, or other aeourities, or if the premiaee Aereby anoum~ered oonaists oi more than one parcel,
Mort~agee may st its optiun axhayet a?n,y one or more of ssid eeourities and the eecurity hereundar, or suoh paroela of the
aeounty hereunder, either oonaurrently or independently, snd in euoh order ~s it msy det~mine,
15. Uponreq uest of Mortgagor, Mortgagee may, at ite sole optian, [rom time to Lime befo:re (ull p~yment ot s11 indebUed-
ness secured hereby, make further advanoes to Mortgagor; ~rovided, ho~vever, thst the total prinoipe?l seoured hereb and remsin-
ing unpaid, including any~ sueh pdvanoee, ehall not st sny trme ezoeed the on'g~t~I prineipsl auut eeaured hereby. ~ortgagor ahsll
executs ebnd de[iver to bior a note evidenveng eooh aud every euoh furtt;er edvsnoe whioh Mortgagee m~y ma?Tce, such
nota to be papable on or ore msturity of the indebtecinees aeoureci hereby snd to oontsin sueh terms as Mortgagee rhsll
require. Mortgagor ahsll psq sll suah furthet adve?noes ~vith interesL, aad the a~sme, arsd esch note evidencw' gthe sa~me, ahall
be secured hereby. All prona~ons oi this mortgage ahsl! spply to eaoh further advsnoe aa well e?3 to sll other indebtednees
se~curod hereby. Not}ung herein oontawaed, howdver, ghslI Gmit the ~?mount seaured by this mortga~e ~f auoh smounL is
inareaaed by sdvauioee made by Mortge~ee, as herein eleewhe~re provided tor to proteot the eeaurity. The word "Mortgagor"
~s used in thia paragrsph, indudes ~uy suooessor ~n ovenership oi che premiees.
1&. No delsy by Mn .n exercising sny ri~ht or remedy hereunder, or other~ixe sa'orded by L~v, ahati operate as a
waiver thereof or preolud~exeroise thereof dunng the oontinuanoe of any defmult hereunder. Nu vvaiver bq Mortge~+e
of any defuult ehsll oonatitut~ a wsiver of or ooneent to su~q ueut defaulte. No failure of Mortga~ee Lo exeroise sqy opt?on
herein given to socelerate maturity of the debt hereby aeGUred, no forbedrsnoe b~p MorLgag~ae before or atter the esero~se of
sueh option arid ao wiEhdmwal or ~bsndonment ot toreclosure prooeedings by Mort~sg~ shsll be Lsken or oonstrued as a
wsiver of ite right to exeroise such option or to aooeletste the maiurity of t6e debt herebq eecnred by c~es,eon uf any paeL,
present or futiu~e default on the p~?rt of Mortga~gor; and, in like manner, the proourement of insuranoe or the p~aym ent of tsxee
or other liena or ehsrges bq Mortgsgee shali not be taken or coastrued us a? waiver oi ite right to sooelerste the msturity of
the debt herebq secured.
17. lV"ithout sffeotu'~g the liability of Mor~g or or e,ny other~person (exc;ept atiny person eapresaly relaased in writing) for
f payment af anp indebtedna4e secured hei'eby oi for pee~farmanoe oi any obligation contained herein, and without affectiug Lhe
nghts of Mottgagee with respect to any security not expree~iy relea8ed in wnting, Mortgagee mAy, at any time and from time
i to time, either beiore or after the msturity of said note, a?nd without notioe or consent:
(a) Release anq peraon liable far p?yment of ell ur sny part of the indebt~ineea or tor pertormanee of snq obiigation.
(b) Make any a~'eement eztending the time or otherwise ~1Leriag the terms ofpa yment of all or anp psrt of th~
indebtedneea, or modifying or w~tiving sny obligation, or subordinating, modiI}ing or otherwiae dealing with the
lien oa charge hereoi.
(c) Exercise or refrsin from exercisinK or waive any right Mort~;a~gee msy have.
(d} Acoept additiuna( seauriLy of any ~ind.
(e) Re2ease or otherwige desl with a~y propertp, r~al or personal, securing t~e indebtedneas, including all or sny pert
of the property mortgaged hereby.
18. ~lny ~greement heresiter made by Mortgagor and Mortgagee pureuent to this mortgage shall be avperiar to the righta a!
the holder of ~ny intervening tien or encsumbrsaoe.
19. Mortgagor hereby waives all righL ad homeetesd eaemption ia the property anbjeot to this mortgage.
Z0. The oovenante snd eBreetnenta herein oontained shall bind and the beneflta and advsnta¢ee shsll inure Lo the t~eepeo-
tive heira, ezecutora, administratore, euoeeesors and ewa~gna oi the parties hereto. Wherever ueed, ttte singular number shull
inalude the plurat, tha plural che singular, and the une of sny gender ehall be applioe?ble ~Lo oll gendere. All oovensnts, aeree-
ments aud undertaldngs shsll be joint wd aeveral. In the event ~ddition~l numbered oovensata are 1'or ~oonvanienae ineerted
in thia mortgage followu~ the legal deeaription, eueh sdditionst ooven~nte eha~! be resd and given edtect ss tbough tollov?ing
thie aovenaut ca oonseautive order.
',yZTrJ"'r~SS '•;r~~~'~r' the said ~to Adams, Jr. and Dcrr,thy S. A~a.~s, fiis wi.fe,
~,ave ~zt their hands a~d se~s, and ~he said Ac~ams Ran~h~ Inc. has caused tiiis
:~t~rt~a~;e t~ be sign~d and its corpora~e seal to be hg: eto affaxed zn its nama by
i~s of£icers ii~~: eunto duly aut.2vrized, ~n th~ day and year first abave writter,.
,
S;-;,;r~r,~z, Sea2ed artd ~e].iver~:d in ~ ~ f ~ } _
the presenc~ of us : ~i~ _ = a.~.;~i.
, Adamss ~Tr.
, ~
!~J"~i`(ir~AL )
oroehy S. dams
~ ~r1,'~ • , , v, ' ' .
a . ~
/ , ~ '~~'L~•'~~ •
~ ~ a . , .
• _ ~..-fC-:~,»~-.~ ~ ~ , .
.
resid~~ ~ ~ ~ ~ -
c> ~-Y
A~test: ,
S~cret~x-y - ~ - ` ° '
,~J~~~lM~J ~
_ . _
- - - . - - - ..^~"-a-