HomeMy WebLinkAbout1535 9. That K tM pdndpal or intarest on tb~ aot~ b~setn ~aeribed or saj?; p~rt ot t6~ indsbf~d~s s~e~r~d ~
or in4re~! tMr~on b~ notpa W wbea dn or fi 1tort~~r s6a11 i~il topay ~~ay tues. snenm~ab. o:
tbas as tlw ~ b~oom~ dw aadp~, or it d~fautt be mad~ iA the iall sad PronPt Paforss~~ eo~aaat
or t Denin oontaieNd, or ii awr proaedinp De itsatit~oi4d to sbats al~r ua~?a oa th~ Y Pertniw~
i~W
yrooalin~s b~ iastitated wDkl~ mi~At resdt ~o t d~timen! of ~~~nda«do~m~t a~a~
~ l~[oet~a~or is aal~~t~ed a b?nkrupt or insolwn~ or it ~ h1~ sbsll b~ or eLioa r~odtr~d b~
~~eonrt
oi lut raort im~~an~ t~ .or a~t eot ~aw ii? d~ct npoa thi~ awrtsap. or tb~ uob Ncntrd b~s~b~. or
an~ inter~st ot Yo
-rt~a~ in tbt Y i Pr~a4isM. or tend~sins inoper~ti~n tlN nndattaki~s oi 1[ et~~ to Dy?
all 4ses arWnt u a rault oi thIs~~ tn~iuaction otber tLaa ta~ces u~ t1N int~rest iuoom~ Msdrom. wr wh7c5 rMOlts
in tbs dednctlon irom ~alue of 1a?d. for t~u~ pnrpo~es. ot ths a~nt oi u?y lla~ Mreoe, or alt~rin~ !IN Lw~ for tM
~xiuu~ oi mo or debv ~scnsad thas~by. or if the ~dortga~Or. withont first ob4inia~ tM ~n eonseat oi t~
l[ortsa~e~. s6~~rant„ b~rraia, ~e1I or ooa~e~ the ldort~sged Premiies or aq~ psrt thaseof. inela~ timb~r. tb~a ~u
t~s l~sppeaiat of ~ny ons os nars ot the~s evenb. thb coaveyu~ce shall beeo~ abwlnt~ aad tM wlwl~ lndrbt~dow
aecnred heraby sball immedLtely b~oom~ due and pay~bla at the option oi tbe 1[ortsases ~nd this mort~~ mp
thereapon bs ioreclo~ed ior tLe whol~ ot ~aW nwaey. intesest wd oos4. or l[ mar foreeloW ont~ as Eo wms
W+t dw wit~wut i~jnr~ to thi~ mo a
~?t sneh for~clasnr~ ssM tbt propasty~l ~bs ~old s
pnbj~to ~Il sem
ini~ itedu ~iind
nibtidnen wd Yo~
ma7 atain loraloN in tbs wne maan~r a~ oiten a~ there be any aum past dne.
20. I~ at anY time after deianlt b~? Y~~~
r a reoei~enhip may bs neceeeary i~ t~s~e opiaiot~ of ]ltprt~a~e
to proteet the lien ~er~. or at t1~e Wne oi vr dtez tM iastitution of snit to colleet t~ indebtedner b~r~b~~ s~eurd.
or to ioreelw~ thb morts~ l[ort~s~e~ s~uU. u sa admitted eqnity sad s~ a matta a~ ~trkt ri~Dt and t'eiuld-
las o2 the ~alne ot tM. pro~. or tbs soi~re~r or insolveacy of 1[ortta~or or aay p~ bonn~ ra~ tM pa~at
o~ t6~ ind~btedaea ban !6e to t6a appoiatoaent, on ez parta spp-licat3on u~d withoat aolia to s~on~, b~ an~
proper eonrt har[n~ ~u~~di~u. o~ a reouinr. whicL :ecsiver sb~ll 6a~~ aU a~ th~ bt~w?d and diat[n po~wsts
and fuaedoos ia sn wbe eatrnsted Dy the court to a reoeinr. to laks chsr`e of. msiaWn. eus
for and protect the ~oryta~ea Premise~ aad to oollect rents, bsnes. prooeeds, ProdaqR ~iee~ssd rewanw a~
tbs ~[ort~~ed Premises irom wlu~oev~ anne derioed: to mske sU nea~sary or n~~~pa~ and ~o pro~~t for
the Yottga~ed Premi~es u aet iorth in para~raphs 6 aad 6 above. and to market th~ prodae~ ~e~o? and t~eeeive
a~ ooUact the pro~e~ there~ snd sneh reoeiinnhip sball, at the option ot ~[ortgsses. ooMinw nntil tM ib11p~-
ment oi sIl sams herea~ see~red. or nntil tiW to the l[ortgaged Prenaiaea sball lu?v~s paMed oa sals nnd~s s foer-
ebsnre of tbis mortssre.
11. 8hould Yortgasor and Mst~a~ee berestter enter into anya~e~ea~ent modti~ia~ o~ t6s btm~ a~
this mo or the note seenred h~re6y-insnp particalar, !he rights oi the parties to s~h a~eaa~n~
t s6aU b~ supaior
to tM ~o! tha holder oi any inter~enin~ lien or enrnmbrance,
18. Witlwat afiectlnt tbe lisbility oi snype rson (other then any person releaacd pnnwnt hereto) ior p~ymeat oi
aay indebtedness aecured hereby aud w~thout affeetin` t6e lien hereof upon sny P~Pe~7 not rele~ted pnnoant ba~eio,
ltorts~es msy at ~ny tjme saa irom time to tiane, withont notice:
(a) Rdease sny person liaWe for pa~ment oi any indebtedneas ~ecnred hereby.
(b) the indebtedaeas. or e:tend the time. or agree to alter tlie te~au, a[ psymeoL a~ ~n,~ oi ths indeb~-
(e) Aaept sdditbnal seenrity oi any kind.
(d) Releaae anP p~'~Y ~~s tUe indebtedneas.
(e) Consent to tDe maldns oi an~ msp or plat oi the ~[ortgaged Prrmises. or tLs ersstiao a~ sar ~aswaeab
thereon or any oovenants ratr~etin~ uae or oocupancy thereot.
ls. Ii the indebtednes~ ~red hereby is now or here~iter .tusther seenred by ehatW mort~asn. Plsdir. eon-
traeb of ~oannty, enta of leases, or other seeurities, ][ortga=ee msy at ib optiqt euhsnst up ope or more
ine. ties and~seenrtty herennder. eithrr ouncnrnatly or independeatly, and fn saeh ordsr as it may
i~. No delay b~ lios~a~ee in eurcising any riRbt or remedy herwnder. or oiherwiK afioided by Lw. shall
operate as s wafver tbereo! or preclude !hs ezercise thereoi dnrin~ tbs continoanoe a~ aq~ ddsdt ba+eandes.
16. T6at the Yort~a~or shsU peraiit tbe l[ortgagee or its repreaentatina to esamins and insp~et t~ pramiw
; at sa~ re~onabls tima.
I
I T6is shaA innrs to and bind the hcin, legatea, devisees, adminbttstors, weoawoes aad
€ s~d~ns o~ t1wn~~ hsr~to. Where?es nsed hesein tbs ~in~aLs nnmbss s6a11 itktad~ t~ ploral. th~ plotat tb~
sinpila:. aad tbs nss oi a~7 leader ~hall bs spp~iCable to all ~endess.
• Y~~~ sball be snbrogstsd to tb~ elsims and Hens of all parties w?ho~e eLims or lia~s are di~arpd or
Paid with tbe pzoceeds oi the losn aecnred hereby. •
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IN WITXSB3 WBSBSOF, tbis mortiacs Las bem duly ezecnted by t1w l[ort~t~or. .';'.'::-'.Y',
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iz 81~n~d. Ms{«i aad dalftend ~~•.tr~,
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~ ~ ~ ~ t~ °s: BI.i~ GOQSE , 21~ .
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