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KNOW All MEN BY TNESE PRESENTS, that ths undersiyned Monyaqor, ~ G0~3]Stl'l1C't.'LOtl CO.
• a c+orpo~ation. avtFwrizd to do business u~'u~i t~he
St~t~(t of F~.O~~dB
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Co-pa~p: a sol~ propri~tor, wifh officas buted lr~ ~?a~s~ ~~aA
beinp jusNy indebted tc Yedlow Mowrs Gedit Corporstion, ~ Dslawan oapaation. autlwriied to i of
' `~'~ss-'e~U'°~ BIIa~
h~niMftK somstimes nfKnd ro as Morpps~. in ths m of yY ~'i ii
wbich indsbtednsss is securod ~ Cha~~~Morpa~s ~nd is 1+KSby aonfess~d a acknow/
t ted0ed~bY tfi~~ ~nd
which H+dsb:~sdness a th~ t~a~,x proes w WY. fa th~ purpose of ~curirp th~ p~ynwnt of sad dsbt ~~d tM w~ 3~.~
hsreineftsr oonvenanrod a~d~~esd b be Wid by the Mortpsqor. snd Fn oonside.stion oi otha qood and valuabl~ aa?si~
derstions duly peid by the tlw receipt whersof is hereby acknowledqed. fiss 9ranrod, b~~ysind, sold. ~ui~n~
ed, oonveyed a~dm~t~p~
~tMse presents does ~ant. be~+in. sell. +ssiqo, oonvey and mort9ap~ unto Ma said
MatpspN ths ps?sonsi -prop~rty d~scribed as follows:
Une new l:aterpfllar, Model 944, Series A, Serial No. 43A 46s9
with 24 volt direct electric stsrt, 2~ cu. yd. bucket, spill plate, ;
tool Yit, canopy top, counterrreight, Zu.S a 25 tires.
TO HAVE AND TO HOID all and sirpvlar ssid persona) property u~to ths MortQaqoe, for itself, its wasssors or sssipru
forever. Md ths Mortqs~or does hereby aovenant to and with the Mort9ayee that the Mortqaqor is lawfully possesxed of
said penonal property, that the same is free from all encumbrances, and thsf it wiN warrant and defsnd ths same to Mwt- ~
qapes, ia suaasson or auiyns. a9sinst ths lawfvl daims snd demands of all pe~soos.
PROVIOED, always, thsse pressnh aro upon ths express oondition fhat if ssid Mprpayor shsll wsll and hv1Y pay or
cause ro be paid oo said Mortyagoe, st the offioe to be heraafter desi~rwrod, of Yellav Motors Credit C.arporation, the said
indebredneu at the times and in the amounts set fonfi in the schedub of payments `on the reverse side of this Mortgspe,
which scheduk of paymenn is incorporated hsrein and rt~sde a part hereof, and if Mis contract be pieosd with an atFOrr~ey
for collection, t}~en (unless the same be in vioiation of any statute roiarie~ to usury or oti~erwissj on aci~iiiic~nat sum as aiso:• ~
neys' fees equal ro fifteen percent (1S%) of the balsaos of said irxkbtadness tl,en due, or if wd~ amount of attorneys' fees
is in vioiation of any wch stature. t1~en ss iarge an amounl, if eny, as s1sa11 ba permittad, and if tl~e Mlartpagor s!~!I also
punct~ally and faithfully perform sach and all of the covenaros, stipulations and preements here;ri aontained on the Mort- ~
9a9a s Part to be petformad M~ar? this inshumsnt shstl be void, otherwise to remain in ivtl faras and eifett.
TM llAorpa~ covrnaala aed a~s:
1. This mortgsqe may be asspned by the Mort9~qse from fime b time, and fhe leyal hoWer of this mort~a~e from ~
time to time shsll be entitled to all of the rqhts of the Mort~agee hereunder. No waive? or exte~ion of ~nY PaYmer+?. term.
provisioo, covanant o~ oondition should bs considered as a payment or waiver of any defauh heraunder, rwr be construed
as a permanent waiver thereof. The failuro of the Mortgaqee to iRSist on prompt payment of any instalment when dve
hereunde? or tF~e aueptance of any detinquent paymen~ shall not eonstitute s waiver of arty wbsequent defsuh and Mort-
gsgee shall have ti~e r'~ght fo repoueu or exercise any othnr ramedy reserved to it hereunder upon any wbaequent de-
fault. No hsnsfer, renewal, extensioo or auignmsnt Of fhis mortgaqe, or any interest hereunder, by the llAort~ayee, v~olun-
tarily or involunts?ily. a any loas, injury, destruction of or to the personal p?operry described, shsll release the M~ortgs~or
from any obligaYan hereunder.
2- The Mortgagor shall at in ovm expense keep said personsl property io fint dass order, repair and n~nning condition
and shall keep said personal property frae from sll tazes, liens, and encumbrar~es snd from sll charges for k~p, repain.
storage, msintenance or accessories, sod upon the fsilure of the Mortgagor so to do the Nhortgagee may, at its etection, make
~ ~X WYR+~+a in its absolub disuet~qn: it msy tlsern~sary~ or advissble b pr3curs ~or keep ssid personal
propery f~e of bll taxes, lians snd er~tumbranoes and hwn a
Il ,I~arges Tor keeP, rep~in, storage, maintenanoe or soces-
sories, ard the wm or wrra so paid by ths Miorfyspee, topsthsr with interost ths~son ~t the, hi~l~est lawful oontroct rste, sF~sll
be and baaorr~e a part of the wm secured by this mortga~e, and shall imrnediately, without dertiand, be due, and be repaid
' by N,e Mortgago. to the W?o~rgagee.
3. Mwtgsgor ay~ees ro procure, pay slt premiums therean ard deJive? to Mort~lyee.,ln ir~rance PolicY Qr policies.
in an amount and issued by an inwrance aornpany satisfactory to Moitgs~ee, nemirq as Karies or assunds Mort~agor ~
and Mortgagee, their hein, administraton, wocesson, and augns, as their interest mayia~ear, undar vrhich Mie per~onal 1
Fxopeity o~vered he~eby is inwred s~ainst bu or dam+9e bY (aollisiwi) fire and theft thereof. Mort~e~or expresslY a4ress
that in the event of the failure of Morlga~or to procure such policy ar pelities pf inwranoe and to kesp the premiums
paid thereon, durinp the life of this agreement, Mortgagee and Atiortga~se's heirs, ~x~a~ors, adminisnators, suoossson and
auipns am hereby suthorined to procuro wch policy or policies, and to.pry? sll p?amioms theMOn wfiidl be not paid whea
due. All amounts so paid by Mortysgee as premium on said i~surance sMU be added ro the amounts due hereunde~,
shal) be sewred hereby the same as the amo~unt for which this mortfla~s is yiven and shsll beoorne due sad payabb with
the instalment next due hereu~+der after wch p~ymsnt by Mort~a~se. Failuro of Monysgor to repsy wch wm ot sums so
peid by Mortyagee as premiums on wch polic~ or policies when due, shaU oonstitute a msterial baad~ of this agroer?~t.
The prooeeds of any insurance, whetl~ paid by reason of bu, injury, retumed premiums, or otF~wise, shall be applied
toward the raplacement of the penonsl property or the payment of said irxleWedness at the option of the Mort~agee.
4. Time is of the essenos of this mortyage. If any amount psyable hereunder is not paid when it bewmes due, Mort-
gayor also shall psy interest on the unps~d amount at the 1i~phest lawful oontrad raro from the due date and in addiY~on:
(1) if a ro~xesentative of the Holder erdeavors in peaon fo ooltect ths seme, Mo~gager slall pey far wch additional experKs
; a wm eqval to the lesser of three per cent (3%) of wch unpaid amount or Ten Dollats (;10.00), and; (2) if this rtwrf9a~e is
~ placed in the hsnds of an atNOrney fw cdlection, Monpaqor shall pay an amount equal to fifteen per oent (IS%) of the
` amount dve (or such lesser ium es may be permitted by law) as atrorne~/s fees, plus epplicaWe oourt aosts.
~ S. No warranties either axpress or implied hsw bean rt~acJe by Mo~tgaqes unless endorsed hsreon in writirp.
i 6. The Mortya~or will r?ot sell, hansfer, assiyn, mortyaye o? encumber or in any o*her msnner whatsoever dispose of
said personal property or anY pert tF~ereof, or aoy interest therein. without remittinp fo Matyapee the proportiooate amouM
j of the inciebtedness outstand'u+p snd identifisd with the partialar personal ptaperty so enwmbered or disposed of, and.
~ except as rt?sy bs eeceuary in its repular oourse of businsss, wili at no time and unde~ no circumstanoa, psrt with or wrran.
dK tiw posc~ssion of said p~rsonal ProP~~Y.4FMY Awi~f +nd will not suffer ot allow any of wid P~*~~ ProP~Y bY
any means o? unde~ sny circumstanoes ro pass out of' MKqagors possession and will not remove same frorn the stste
4 withouf the prior written coruent of the le~al Fwlder hereof. " _
! 7. In the event the Mortyagor defaults in mskirq eny psyrneot at the raspsctive times and in the manner herein speci-
j fied, or i~ performirp any term, aondita~ or oovenant herein provided 1o be perforrtbd by fhe AAortgsQor, or a proaeedirq
; in bankruptcy or insolvency be irutituted by w against the AAortQapor, or s receiver be appoimed for the I
of the hM~ty~agor, or the Mort~aqor makes an assiynment for ths benefit of veditors, or mskes an ~tls~npf
t~o
sel~,Pr~Y
` convert or m'iSve the personal property, or eny paA tF~eroaf, in vidation of this a~reament, ar if the personsl properf~r
becomes wbject w any levy by a~y officer or public off'Kial, or if any writ or d'istreu wsrcant shatl be Isvied on said pasor?d
; proparty, or if the 11AortyaQee sMll at any time deem thk mortpa~e, said personal property, said dsbt w said sewrity unsafe
~ or insecvm, the~ snd in any wdi event the entire indeb~edr+ets, and all furthe? and additiooal amounts :scvred by this mort- #
, ga~e, shall, at the election of the Mortga~ee, becorne and bs imrnediately dus and payabk without n~ioe or dernsnd b ~
' anyone, and this mort9age rrwy st ths Mat~pa~ee's option (nor+oe of rh~ exercise of which option is hereby expressty wsived)
j bs fo~eclosed by aaion o~ oti~wise, and the AAatyagss is hereby wthorix~d erd empowrsrsd to entar eny premises of the
t Mortpa~or or otl~er plece whsre the said persorMl property. a airy put thwrof, msY be and take poss~ssion d the psrsawl
properfy sod renww the same withovt +wtica o? demsnd and without Ispal proc,edute, said notios and derns~d, and also
j any right of action, trespass or damapes beinp F~y exprassly waived, and ths Mort~agee may rnnwve the persoeal pra
perty w sny psrt tFiersof by replevin or ott~erwise and s~ll the sarne and ell equiry of redan+ption of the Mwtyspor tF~xein,
either st public axtion or prirate sak, withovt notioe and without dsn?snd fa pe~forminae. (notioe and dernsnd bein~
he a cx
hereby waived by ths Morps~cxl a~d without awaitin~ any dehrmination by any oourt or WF~rwise as ro whether thsr~e
j has bsen s def~uM under this morpape or wheths? there exlsts a ripht of sala w forecbsurs, (Mortppor hsraby rele~ses
e Morty~pse ftom ~II lisbility for dart~ss or oompensation, statutory o? othKwis~. fw any premstvn retakin~ or rosal~ of
s+~ P~+~ P~~Y), and out of the praaeds of s~id s~ls pay the aost of foreclosirq this morqpe, the expsnss of
E P~+~x+++p• k~pirg, nP+~rirg. adrertisin~ and ssllinp said psnonslprope~ty, u~dudirp reasonable attornsys' fe~s
~ and to pay ~ny ~nd all (iens th~t may Fwve a priority over this mort~aqs, and apply the r~sidue tMrwf towud th~ p~yment
~ of said ind~besdness, or any part tMreof, in wch msruw ~s ths MatQq~e msy slect, nrKisriny tM w?plus, if sny, b said
E Mort~s~a upon dun~nd. Said p~~e may purchas~ at arry wchiaie m ths same rrWnr~ and to th~ samt ~ffsct a any
~ . , othsr person rw1 interested hs~ein.~and if fw ~n uuse said ~
Y P~~~+t propsrty fails to setisf~r s~id debt, intere~t, tos! snd
~ cMry~s, ths Map~po~ cov~nann and apre~s to`p~}r ~ end intsnst ~~t tha hiphsst lawful aontrad wte.
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