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Home My WebLink About1616 ~ . . f ~ ~ . 8. Unti! defauh in tbe paforananoe af tbe oovanaats and a~roemeats oE this mott8a$0. tbe mat8+?8as thall be a~titled to oollect tl~e reats, iss~es aad~ b b~an the pcani~ harelnbeEore dacn'bed, but ia oase oE a dehult in aap of tLs term~ of thta moitgage, and the ' of a btll ~ faneciwe t~s or a~?y otber ma~tgage ~acumber~n tbe wtthin da+c~ibed tLe As~oc~atioa s6a11 Iaamcdia ued without notioe be anHtled to tLe sppoiatrneat a~ s Reo iver of tbe mortgaged pP~'~P~Y~ and of ihe reab, iu~~es sud pco ib thereo~f, with the usualpo wer of Reoeivas ia such case; snd audi Receives znay be-ooatinued ;n po~ssion af the said prope~ty tmtli the Wne of tbe sak thexv.wf ~mtlet auch forecWaure, aad until the oonfirmatian of such s.11e by the Court. 9. If a ooaveyance shauld be made by tbe mortgagas af tbe premises herefn de~adbed, or any pait thaeaf, with~ut the vvrittm ca~sent oE the Associatbn, aad witfwut auumption in regnlar form of 1aw by the g,rantee oE tTie oblig,ations to tbe .3ssociQtion aeated by said pe»nnisaory note and tl~is m~tgage, thea, and in that evaat,~ at the option of the A:sociation, and ~vithout notice, all sums af nxoey secwred l~areby ahall Lnmediateiy aad concurrentlv vv~t~i suc~t c+mveyance become due and YaYabk and ia defauk. Tt+e Aswdation may de~l wlt~ snooeaors in interest wit6 nference to thia mortgage aad the debt hereby secure~ in the same manner as with the mortgago~a, and may fo~bear to sue or may extead time fos p~yment of tbe debt, secUrecl hereby, or othetwise act wtthout g o~ in any way affectln~ the liability of t6e ~twrtgagora herenndex or upan the debt hereby secured. 1l~e Assoc.~i,ation mad~ deal with tLe Madgagons aad/or with suoce~ors in h,ter~st with raf~ce to this modgage and tbe debt hereby ~secured by forbeariag to aue, extending the time for paymc~t of the dcbt, jx+ovidtag for different montt~y PaYmeats tu~/a: a diff~eat interest nte, and other ~ modi6c~tions vf tbe oontract, without loain anY pciority oon the Assodatjoa has ove: otber moctgagees or Neno~s ar of any iunior interesb ia the P'~Pe~Y 10. That in the event tbe prea4ises hereby g~ or any part thereof~ shall be oondemned and p~ken forp~ blic usc uncler tbe power of e~ninent domain, the Ass~ciation~l~ave tbe rigbt to demand that all damaga awarded for the taking of or damages to said p~nnises shall be paid to the Association, its suocestors or assigns, up to the amoimt nnpaid on this mactgage and may be applied upon t6e paymeat oz payionent3 last payabk thereon. 11. It is s~pecifically agreecl that time is the ~oe of tl~is oontract and that ao waiver of any ob~Igatioa her~mder or of the obligaKon securat hereby sbaIl at aay time tbdreafter be Leld to be a waiver of the tamt or of tbe in~nm~at secured Lereby. 18 If fo~+ecloaum pcoccedings of any seoond mortgage aar sooond tn~t deed ar any jw~i~ lien oE any kind should be insti- tuted~ tbe Association n,ay at ih opt~on, i~nmediatcly ~ hereaft~ declare this mortgage wid tl~ indebtedness secured l~ereby due and poyable. t 13. To the e:tent of the indebtedaess of the Mortgagors to tbe Associntion d~ed hemia ~ secured hereby, the Asso- ~ ciatian is 2~ereby submgated M ihe lie~ or ~ieas snd to d~e rlghts of tl~e ow»en and haldeis d~ereof oE e4ch and ~:nortgage, lien or other e~mbrance o~n the land described berein which is paid and(a~) satisfied, in whole or u~ part, out of of the loan desaibed herein or sec~ued hereby, and the respective liens of said awitgages, Iiena or other enc~mnbranas,~ ro and be heW by t6e Association herein as secun for the indebtedneu to the Associstion }~n desciibed aar heneby ~ the same excent that Ii w~ouW have be~ pr~serned and waild have bee~, ~assed to and been heW by tha Assoc.~atiaa Lad it bcea duly and reg~iladY assigned, ~erred, set m?er and delivered uato the Association by separate dee~ of aasiennmeot, rwtwithsmnd- ing the faa that the same may be satidied and cancelled of record, it being the intentioa of the parties l~ereto that the sura wDl be sa5sfied and car~oelled of record by tbe holde~s thereof at or about tDe time of the nro~d~g of this mortgage. 14. To pay all and singular the c~oats. char8es, and e:penses indnding lsveyer's fees, reasonab1y incurred a~ paid at aay time by the Association, because of the failwe of the 1?iortgagors to perfam, coanPlY wjth and abide by each and rvery stipula- tions, agreementr, oonditions and covenants of said promissory note and this deed, or either, and e~very such payment shal[ bear interatt firom date at the rate stated in the note seau~ed heseby. 1 I5. That he witl 't, coinmit, or suffer no waste. impairment, or deterioration of said propcrty a~ any part theieof; ' and in ihe event of ihe of die Mort~agots to keep the buildings on said and tho~e to be erected on said premi~es, ~ or improvemenb ihereon in good repair, the Associatio~n may make and pay ~ as in its di~a+etion it may deem ~ n f~ tbe properp~ tion thereof, and the full amotu?t ~ such payments shall~~ctmed by the lita of thg matgage and~ s~t at the option of the ~Association be immediately due and pnysble, o~ payable in such mo~t~ily installments as tve Associa- tion may deMrmine, and every svch payment shall bear interest from date at the rate stated in the note sec~ued bereby. 16. That if the Association and tbe 1?tortgagors agrce, the Mortgagors wnl carry a policy or polieies of ins~ranoe upon their lives in an ameuat eqaal from time to time to the amount of iadebtedness hereby secured, maldng said Association beneEi- ciary there~u?der, and t~at the said Association maypay the premiums for such insuranoe (in the event the Mortgagars do not), and acld each such pcryment to Lhe unpaid balance of the loaq as of the first day of the then ctur8nt month, and it sball beoanne ; additional indebtedness secured by thu mo:tgage payable upon demand. 17. That in the event that this nnortgage be given to sec~e a construction baq falure on d~e part of tbe Mortgagors or f their contraetms to connplete said building in aeca~danoe with Construction Loan Agrcement, of everi date herewith, or to build ~ said constructioa ia aocordance with glans and apeci~eations filed with the Association, shall oonstitute a breach of this martgage, 1 and, at the option oE the Associatioq ima~ediately mature tLe entire amo~mt of principal and interest hereby secimed and the Asso- ~ ciation may immediately institute prooeedings to forecloae this mortgage. ~ 18. Tl~at the abstract or abstracts of title oovering the mortgaged property shalt at all times, during the life of this mort- ~age, remain in the p~ossession of the Association and 'm the event of tlie foreciosure of this mortgage or otber transfer of title M ~ the mo~tgaged p~roperty in e,rtinguishmeat of the indebtedness secured hereby, all right, title, and interest of the Mortgagors in and to any such abstracts of titk shall p~ M the ptu~d~aser or grantee, ~ 19. TLe Association shaII have the right, in its discretion, to require that tbe Mortgagors pay into the Ascoaation m addi- ' tion to the monthty installa~ents of principal and interest to be paid by the Mortgagors under the note secured by this m~tgage, an amau?t equal•to on~twelfth of tbe annual installments of any taxes on tbe modgaged premises lcwied or assessed by any governmental suthority, and one-twelfth of the annual p~enniums for Fire and Fatended Coverage uuurance on the mortgaged premixe.s as heranbefo~+e reqnired by the Association, and the Mortgagors' faitwe to make such payments shall cautitute a default under this mortgage. ~ IN WFINESS WHEREOF, the said Morigagors hereunto set their hands and seals the day and year first above written. ; 4 Si , and delivered in the presence of: ~ - .~J ~ ~ EA , - - - - - - ------~5 L) /~~2~ t en A. Esk` , . _ _ - l - - - - - ~S , ` ~ Ma sha C. Eskin - - - - - • (SEAI.) - - ~ - _ . -~s~) { ~rnn+ESSes~ _ - - - ~ pMORTGAGOlS) : 1 1 aooK~50 . 4~5 ~ - , ,.~~~~~w~ ~r~ - :