HomeMy WebLinkAbout1376 ,~..i •u.~i: ~l;,i•, y , , : r„~„4~~~' ~u~ :~~,.i .~i~~,l . ~ 1: .unl c~~r~' Uir ,ii~iuL~l~uu;, r~~n~1~U~,ti,, :iuii ru'..~n:~nL, ~~f .;:u~i {~r,~~iu.;,~~ry
.~~~.1 t1ii: :n,~rt~;.~~r, th~•u tiiis un~rt~t.:::~~ .u~!il lin r.;l:~t~• h~•r~•Ly .•~~•:~t~til +huU r~•:isc .uid b~• null and ~~oi~l.
(t i.; un~i~~~~to~wi tha~ lhr wnnl "~mut~;:~~;~m.' wh~~lh~•r in lhr sin~,vlar ~~r piurul unywhere in this murt~age, s.hAU be
. sinti~ul:u• iC ~~u~~ unl}• :ui~1 .ti:~ll br F,lur:il j~~intly :u~~l ;,•~~r,ally it ~nur~• th:u~ onr. f?nd t,hat the wunl "Chcir" :.s us~d anywhere in
thi; ~n~~rt~;ahr si~:~ll bi• tak~~n tu nu•~u~ hi;, h~•r ur it., xh~•n•v~v thc cor~lext so irnplics or tulmits.
~,nd thr llurt~;a~;or, hercl?~• je,inlly un~! acvc~raily cuvenan't and r~gree to and with th~~ Mortgagee:
I. To pay :ill and sinfiular lhi~ pi•incip;?1 :uul inl~:rr,t :in~l thc ~:i~iuus und sundry ~wns of money payuDle by virtu~ of
::+i~l }~rumi.;.,ory nutr :iu~i [his nwrt~;ay~~•, ~:~rh and +~v~•ry, prnmptly un the ~l:iy.; re•spectively the sume severally become due. The
\lurt{;:i~;r~~ muy rolirct "I:?t~~ ch:u~};r" uot tu ~~x~•i~r~1 :en anwunt ~~q~r.~l to Lwu per c~ntum 1'~'~~ ) of unV installment of the note
hrrrby secur~~1 ~~hich i~ nut paid ~vithin fift~~on (15) ~lays afler th~• du~• datt~ lhrreuf tu cov~~r 4he exlru expense involvrd in
h:uidiin~ del:nyucnt p:~y~ncnl,.
To pay whcn dur .i~id without rri~uirin~; :~ny ~~otic~• fmm Mur~};a~;ee xll a~:d sin~;ulur thc luxrs, astiessrnents, levies,
ubligatiun, and incumb~ani~, of c~•rry r.a[ure und kind iiow un sai~ d~•,crit~vl property, and/or thut hereafter muy be im-
pu;etil, sufferrd, pl;te~~d, ic~vi~v! or :v,st~s~i•d th~•muput~, and%ur that here.ift~•r may be levie•d or :c;sessed upun this mort~xge
and'ur th~~ indrbte~inr;s secured herrby, eurh an~1 ~~v~ry, :~nd irircuf:Lr as uny thereof is uf record the same s.`~al? be promptly
iutisfi~~.l cind di;rhargc~ uf n~curd und th~ uri~;in.~l uffiria! d~xun~ent Isuch :LS, for instance, the tvx receint or the satisfaction
pctyer u[tici.illy endors~vl or crrtified) shall be pl:sc~Yl i~i the hamis uf ~aid Murt~afiee wit}:in ten days next aftcr payment.
7l~ k~•r~ the improv~~nu~~it~ no~~• ~~xistin~; or ht~~vuft~•r cre~~teK! un thr mort~;:~~;eJ property, and the equipment :u:d
pr~sunultp cuci~rrd by thi; 11urt~:~};r, instu~t~~l a, m:iy bi• requit~ril Crum time to time !iy thr illurt~;u~;ir~~ a~xinst los, by Sire, c•x-
trnded c~~~~~~t:i~;~~ :tnd such otha~r h.tzards, c:i,u:ilti~~s :,~~d c~i~~t~~y~e~~ci~•s ~n:~y be r~~yuire~l by bfort~;a~;ec~ nn~l ~aill pay Nr~~mptly.
w~hrn ~lu~, any pr~~miwns un such in,urunc.~. A11 in,w•ance ;hall lk~ in Curm und nmuunts s~tisfactury to, and in ins~r:ui~e rurn-
p:tni~~s appro~•~r~l b~• the Murt~a{;ri~, un~l th~• 4~~~li~~ir; :~nd re•n~•w:~ls th~•r+•oC sh.ill b~• held by ~Sort};a~;ce unil have uttu~•h~r:l thereto
i~,;; p:~)•:iblr ~l:iu.;rv in f:«•ur uf :ind in fur~i~ :~c~~~pt:iblc~ tu the~ Murt~;:i~ri~. In ~•~~~nt of ?us, Lh~ \iurt~;u~;o~:, ~~•ill {;i~~e imnicdiat~•
notic.~ by m:~il to Mort~a~;cc•, an~l Murt~;;iy;t~e nwy nr:~k~~ pr~~uf uf to;s if ilOY ~uade prumptly by Mort~a~ors, and each insurance
r,~mu.iny runc~~r•n~•~l i~ hiv~~by :iuthuriz~vl :u~d dir~~ctc~1 to makc• pay~ne•nt fur such loss dirretly t~~ biort,~`a~e~ ir.stead uf tc>
~ ~lurt~:~};urs :~~id ~lurt};a~;ec jointly, anil thc~ iu,urauc~ pruce~~lti, oe any pxrt th~~rroC, m:iy be upplied by ~Iort~u~ee at its uption
rith~~r t,i thr n•ductian ~f tht ~~a~~,t~>a„~~„ hrr~~by secured or to the resu~r~tiun ur repu~r uf the prope~rty dama~;ed. In e~•ent
uf furt•rlo;ur~~ of thi; ~nortKa~r ur othcr tr.uisf~~r uf title to thc• mort~xgwl prop<erty in extin~;uishment of the in~lebte~ines~
,ecunvl hrreby, all ri~ht, titl~, and inter~~st of th~~ b:ort~;u}~ora in to xny i?LSUrancE~ pelicies then in force shull ~~ass ?o tht• pur-
chaser or ~rantee.
d. Te rc•muvi• or demulish nu I~uildin~ un said premi3es H~ithout lhe writtrn cun,ent uf ~hr .lt~~rt~u~ee; ta pf•rmir, cum-
iui[ ~~r suffrr nu w.ute, irnpairment or deteriu~•atiun uf said property ur .uiy part thereof xnd Lo keep th~ sam~~ and impro~~e-
r~~t~nt, thereon in ~ood condition :snd repair.
~i. Tu pay ssll and sin(~'ular the eost~s, charge; and rxpenses, includin~; reusuna~le law'yer's fees, lawyer's disbursements
and ru~t of abstracls of litle, incurred ur pnid at any titne by the Mortqu~ee bectiusr of the f~ilure on the part af Lhe :liortRa-
qur~ to duly perforni, comNly with and abide by euch ~uid every the stipul~tions, conditions and covenants of said promi~sor~•
~:ut.~ and this mort~age, any or either.
G. That in the event the :YlortRagors fail to pay or discharge said tares, assessments, liens and incumbrances, or said
cus~~, chai•fies and c~x~rn,cr,, or faii !o keep said premises in.,ured or to deliver the poli~ies, prerniums paid, or fail to repair the
suid prr>iriises, a, herein ~igre~c~ci, the Mort~;a~ee is hcrrby authoriz<~d at its a~lection to pay anci/or dischar~e said taxes, assess-
me~nts, lien~ and ine~mbrances ur any part thereof, tu pay said cos[s, char~;FS and expenses, te procure and pay for ~uch in-
surance ~Zr to makr and psy for such repuirs, ~ti~ithout ~ny obli~ation un its purt to determine the ~~aG~iity or necessity of an}'
th~~renf and :+~ithout the Murt~ugee w<<i~~in~; ar aff~~ctin}; uny optiuu, lic•n, e~~uity or ri~hi under or bp virtue of th;~ mort~age;
an~l t}u~ full arnount uf e:ich and every such payment shall be imuiediatc~l}• due and puyable :~ncl shall berir interest from Lhe
date th~r~~f un!i! paid at th<• rak~ nC ri~;ht per c~~ntutn per annuin. and, tuqethE•r H•ith such intere,t, shall be secured by thv
lien of this mortfiage; but nothin~ he•rc~in cuntaint~ct :+hall be runstnicd as re~~uirinfi ~ht~ ;Viurtgagee to ~d~•ance or sper.d mone}•s
for any~ ~~f che pur}>oses in this par:~~;r-~ph mention~~tl.
'Chat l:~) in the event of uny breuch of this raortgaKe or defuult on the part of the ~Ia~tKx};ois, or Ib) in ihe e~~ent
:u~y of 5aid swu:, uf money hercin referred tu hc not promptiy an~~ f~illy paid within fifteen d:sys nt~xt after the same severall~• be-
cume due and paytr.ble, without demand ar notice, or (e) in t}~e e~~ent r•:~ch and r~~ery the ,tipuldtinns, conditions and covenFmts
of sxid pmmi3sory note and this mortgr~e, any or either, are not duly performed, complied with and abided bv; then, in eithz*
ur any such evcnt, the said a~greg<?te sum mentioned in said prom'sssary note then remainin,~ unpaid, w•ith interest accrued,
und al! moneys securr~i hereby, shall berome due anc3 payaLle forthwith, or thereafter, at the option of said .l+iortgagee, as fullp
~~nd con~pletaly us if all of the said sums of money were origin~lly stipulateci to be paid on such day, anything in said promis-
~orti• nute oi• in this mort~;~ge t~ thc contrary notwithst<indin~; and thereupon or th~~rc•;ifter, at the op±ion of the hfortgagee,
without notice or demand, suit at luw or in equiG~~, theret~>fore or thereaft~ r tu~un, ITi:i~' hf? prosecuted a,s if all moneys
iEYUrc~l hereby~ had matured prior to its institution.
S. Th~t ii any suit sha11 be instituted to foreclose or reforn~ this mort~;afiu and%or tu enforce pa5•mrnt of any claims
n~~r~und~•r, the ~Iortgagee shal! be entitled to apply at any timr pendin~ such : u~:, to the Court ha~~inQ jurisdiction thereof,
for the appoint~nent ot a Recui~•er of the mort~.iqe~ property and of •~ll ~;nd sin~ul~r the rents, income, prufit~, issues and
r<<~enues thereof frotn what-:~•er source derived, each and every of which arc expre~::y niort~aged by this instrument; and
it i; hereby expressly covenanted and a~reed that thereupor. such Court shall forih~ti•ith uppoint a Rereiver of said mort~aged
Eu~operty, and of all and ;in~ular the rents, incorne, proiits, iasue., and revenues thereot from whate~•er source dericed, w•ith the
usual pou•ers and duties of receivers in like cases; and such appointment shull he made as a matter of strict right W the
~iurtgagee, and without reference to the adequacy or inadequucy of the value of the property hereby rriort~nged, or to the
~ ynl~•~ncy ur inaol~~ency of the Mortqa~ory.
'T'hat ~1urt~aRors here~y as.aiqn, transfer ~nd sAt over lo hiortgaqee, up to the arnount of the cot~zl indebtednesa
: .~•curr~l hereby, all awardr~ of damages in connectiun with the condemnation of any af said property for public use or for injurv
j. to any p:irt thereof, and the proceeds of .ill such awards, after payme~t of sll reasonable expen~ea incurred, includinq fees
` f~_~r attorrieys reoresentin~ ~iortR-a~ee in any proceedinq in which any such awarcl is made, shall be paid to liortg:~fiee to be
~ applied upon the indebtedness hereunder in such manner as MortgaRee may elect.
t0. That time is of the essence of this contract and no waiver of any obligation hereunder or nf the ubligation ~ecured
4 herrby~ shall at any time thereafter be held to be a w~aiver of the t.erms hereof or of the note set:wcd heteby.
(1. Without affecting the liability of any ~erson (oth~r than any person relea.~c~i puisuant hereto) for payment of
r a~zy indebli,lnrss secured hereby, and without uffectinq the priority or extent of the iien hereof upon any property nut sperci-
~ fically releast~l pursuant hereto, :4fortga~ee may at any time and frum time to time, without notice ar~d without limita!ior. as
t~~ xn5' ~al right or pri~ileRz of 3tortQ~~ee:
~ (a~ Kelease an)~ perst~n li.ible for E~~sy~nrnt r~f an~~ indebtrdne~:t a~cured herrby; (b) ~:xtand the tirr,e or ~~~rr~e to
~I[~•r th~• tcrrnls of H.iyrient of any of thr indebtedne•ss; jr) AccE~pt additianal serurity of anv',;ir„?; Ed) Kelease an~• propert~
~
~ ~~•cur~ng !he indebtrdness; (,f~nsent tr~ thc~ e~reati~m ~~f dn}• E•;isc~ir.ent ~n or „ver the pr~misc~s or an~• cov~•r.ar.:s r-?~r~c±int;
.,r •.r•.•~:(1:117Cy L~18YPpf.
i''. Tu ~iul~• perfur-n~, run~ply ~~ith ~uu1 ubi~lr• i~~• ~~:t~~h :~n~l ~•~~c~ry [he ,tipulation.,.:~~n~iiti;~r.s .~ni1 c~n<•nants i~? s.ii~l pr~~m-
~ ids~~ri r,ut~~ c~nd in thi5 m~~rtqaKe set fortn.
l:>. :a~ .i.i~.iitiunal secu~ity thc: hiort~;a~;u.; d~, nt~mby tr.s~L,fcr, ~ssi~;n un:i s~~t u.~~~r t,~ t}i~• ;;ii~1 11<~rty~a~c~~, it~ succes-
<.:i., ~~r :ss,i{;ns, :~n.: tu;d all rents now cju~•, :~r to beca:7ie Ju~?, un th+e ubove described p:emisc~s ur um• sepnrute rrnta! premis,.
appurt~•!~ant th~~r•t~,, F~•hich arv si;uatt•d un tht• lan~l ahovc drscribed: ~uch r~~nts to be cullE~c•tc~d by or .st t.ha~ dire~eUor uf th=~
iiortga~;t•t~, its ,uc~_rs.;or~ ~n :essi~;n_;, and the net pr~,ceeds thereof tn he applied ta Lhe ind~~bt.YlneSs herzinbeiorc ~ecumd, a:~ and
.+•hen the sam~~ ;h:ill bec•nme duc• ainJ payaD~e; ancl for the purpo:~~~ of curryin~; out this pru~~ision the blort~;a~gor~ do ht' thes.
~~r~~~ents, con;titut~~ ancl appoint ~aid ~I~Zrt~;:i~;ee, ur the succE~ssors irr ~~si~,rn.s of the said ~ic~rt~a~~;ce, as his, her ~r their trvf•
.ind lawfui atk,rney-ir~-fact, to cnllect ,iny urai all i•c~nts fur s<sid abuve dc~s~ribed premisra, ~•xprrssly authoriziny; tne biori~a-
K~~«~ or ir; sur~•f•.:s~~r; r,,r a"i~ns tu r~,~c•ipt t~•nanG, themfnr, :in~i ~lu hy~ thc•s<~ pn>~tmt, ratif~~ .+nd ~•~,nfirrn :sn~; .in~i :ilt ;i~•ts uf
~ ii~1 :ittnrii, .>'-'n-f:ii t in .'~~l,ttion t~~ tn~~ fnn~~;utn~; p<~ta•r~r.
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