HomeMy WebLinkAbout1548 0.'lLst it tM pd~eipal or iat~rest oa tM aot~ h~reia desesibd ot an7 Dar! ~t tb~ ind~badaNS ~r~d ~
or int~erst tMr~op b~ notp~ id wAea do os ii ltort~~oe ~hap tail ts par ~a~oy as~e~sa~ab, os
doas as tM sua~ b~eome dw and_ pa~a~, or it de~fault' ei msd~ ia the loll ~rompt pufo:manN~p oo~nsat
oea~r~en
t her~in oon4taed, or K aq~ proosedia~s b~ ips~ibnkd t0 aDate aas n~baae~ on !!w Yaef~ed Premi~
ii an~ proaedi~s b~ institnted whkl~ calrht ranlt to t~e det~riment oi the uas and~ o~ma~t o? tM pr~si~. or
ii 1[ort~or b aW udkated s bsnkrupt or inwl~ent~ or itan~ law sh~lt b~ ~aaeted or dec~sioa r~ndar~db~ ~ eontt
at last raort im~~any ta~ or as~ea~ment not now ia eiiect npon tbis mort~ap. or tlu ~ ~eenr~d b~r~DOr ot
any inlerest oi Yort~
-a~ in tM Yo~y ~Premis~s, or renderin~ fnopenti~e the nndertalcin~s wbieh r~irulb
all 4xa ar4inR u• rault of tl~s i n otl~er than wces oa the interest iaoon~e h~ret
in t~he dednetion from ~alw ot lsnd. for ta~c pnrpae~. oi the smo~nL oi aa~ Uen i?~reoa. or alterln~ t]w Lw~ !or th~
tuin~ oi mo~~ or debts ~ecnred tMr~by. or ii tbe Morlga~or. wiUwut first obtainins ths writtea eom~at ~ tb~
1[ortsa~ee. a~all ~rant, b~rsain. sell or oon~e~ the l[ortgsg~ed Premiies or ~qy put thereoi~ inctn~ timber. tLrs ou
tbe happenias oi aAy on~ or mor~ oi thas weats, t6is conveyanee shalt become ab~olnb at~d tM wTiol~ iudeD~ednw
secured hereby aball immediatdy beoome dne and ptysble a! the option oi the ltort~spe ~nd thi~
therenpon be loreclo~ed ior We whole oi ~aid moaey. interest sn3 costs, or yIo may foreelo~e o~
u
t~o t
mi
past dn~ ~ithont ia~nry Lo t1?is morts~s or tl?e displaceiaent or impairaaent oi~remainder of tbe 1Ma tMr~o~. aad
at such foreelosure uls the pro
p e r t~ s6a11 be sold snb
ject to aU remaini n~ items a~ i
n
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b
t
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o
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a~
ma~ ~in ioreclwe ia the same manner as oft~n u there bs say aum pas! dne.
10. Ii at aa~ dme dter defanlt Dy l[ori~a~r a receivership cnay be nectsiar~ in tLe op inio~ oi lt~
to protcct the lien hereoi. or at the time ot or dter tha inatitution oi suit to collect tbs iadebtedne~s
or to foreelo~s th4 mosts~e, Yort~~es sh~ll. as an admitted puity ~nd u a mattsr od atriet ri~bt
las oi the valne ot the proper~. or tLs wl~enry or insolvency oi ][ort~a~or or part~ bonn~ Zor t6~ payma~t
o? the indebtednas ha~e t6s y{ to tM sppotntm~ on as parte ~pp~licatlon and wi~ notlos to sn~on~ b7 W
Proper conrt lu~ iarlbdict~On~ oi a reoei~er, w~ receiver ahsil h~v~e sll os the broad and dieetl~e po~w~ts
and tonetions in an~r~wi~ entrnstcd b~ tlM oonrt to s mxi~ar. to take eluRe ~.mana~s. D~, maintain, ear~
for snd proteet the Mo. Pr~misa~ and to ooWct rents. issuw. roceedi. P:'udnos. profit~ incoa~s aad rrr~aws o~
t1~e l[ort~ssed Pnmise~~whRboanr ~onroe deri~ed: to make ~ A80l83i~ O! Aeedinl repahs and to pt+o~id~ ior
the Yortsased Premi~es as ~at iorth in pars~saphs 6 snd 6 above. and to markeL tbe prodnab thereo~ and reoei~e
and oolle¢t tM proeeeds theseof aad anch reoei~enbip sh~ll, at tbe option oi Mort~a~. oontinw nntll tM itiltp~-
mei?t oi all ~ami 1?ereb~ ~ecnred. or natil t[W to the 1[ort8a~ed Premisea shall bave paned oo sal~ nnda~ • iora
cbsnr~ at this mort~s~e.
il. Shonld ldortsasor and f[~rt~area heraafter ~ter into Rny t modit~int o~ n~~
!~6s ~srm~ ad
this mor~a~e or tbe note seenred re6y inany particnLr. the rtghb of~tDe~Apartiea to aneb s~~~t ~aII b~ ~uprrbr
W tbs~rl~~h of the holder oi wy inter~enina lkn or encumbnnce. ~
18. Wit6ont afieetin~ the lisbility oi anype raon (other than any peraon releaaed pannant hereto) for payment of
~ny indebtedneas ~eeured hersby ~nd withont aifectin~ the lien hereof upon snY P~PeLb? not relsa~sd Pnnoant h~r~EO,
)dozt~s~es msy at an; time sn~ irau time to time, without notice:
(a) Releaae aay person liable for payment oi any indebtedness secnred hereby.
(b) ~ tbe indebtednea, or e:te~ tbe time. or a~ree to atter tlee terms. d P~Yment a~ sq~r oi tbs indebt-
(c) Aexept additionsl aecnrit~ of sny lcind.
(d) 8sl~ae su7 P~P~rb? ~rin[ the indebtedneas.
ie) Conseat to the makins oi any ms~ or plst oi the Yortgaged Prani~es. or the ereatio~ a~ aa~ ~a~eab
thereon or ~ny eovenantn reatrkLn~ nse or axupsncy tl~ereo2.
ls. Ii the indebte~neas ~eeured hereby is now or hereaiter futther seeured by ehattal mo~+~i'~. D~
traets of gnanniy, ents oi leases, or other securities, l[ortgagee msq- at ib option encbaost uq one or mors
~
md~
'tiea and~aecnrity hereuader. dtber oo~ncurrenUq or independentiy. and in snch order as it msy
14. No delsy b~ ][ostgagee in exerciaing any riRbt or remedy herennder. or othen?Le afiorded by Lw. dull
operate as s waiver tbeteoi or preclnde the exetriae thenof during tbe tontinnanee c~ aa~ ddsdt
16. That tbe Yortsa~oz ahsll permit ti,e ltortgagee or its represeaLtirea to rumine snd insp~ct t~ prami~a
at sa~ reawnable timn,
` Tbis mo shaU innre to and bind the l~e~rs. ksatee+. devieee~. admiaistrston. aoeeat~s. sueaMOe~ aad
; assiln+ oi t~ ~ berata W6ere~er nsed herein tbe sin~nlar nnmber shall fnclod~ tbe plaral. tb~ plarsl t~
~ dn~ular. snd t6e ase a2 an~ ~eadar sbaU bs tpp~kable to all ~eadas.
.
l[or~e~ sha11 be ~nbrogated to tbe eLims and lieas of all parties whwe elaims or liw ass di~ehaspd o~
;~sid wlth tbe proeeeds oi tLe loan ~ecnrea hereby.
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~ IN WITN833 WBS880F, this mortgace bas been duly euecuted bq t6e Yort~qoz. I J:~,.
~ ~'~~.?.j
j Si~n~d. seal~d aad ddi~aed
~ ~ i6e ~rwoe~ a?: .
> BLt~ ~ AiSRS , IaC: . ~
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..r~l~ , ~ BY s
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s Attest s _
c` = i g S@C~t8ly =
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° eo~ 145 - 346 -
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