HomeMy WebLinkAbout2841 the deficieac~. Suchp~y~eat shall be mada,witlyu ~biriy (3U~ da~Y~?-~tter writtsn aotioe tcom the Mortg~gee
statiag the an~ouat oi the de6cisaay, whicA.apti~e,~~ bs ~v • m~il. N~ti ~ tim~ t,he M
aha)1 teader t~o t4e Mortga~gee in aooordance~ rrit~t ~fifib'provi~o~the note aecured Lersb~. iull p~
ct the ent~ire indebtednas ted thereb tbe Mor as t~rwfse ah;ll in
auch indebtsdaaa, credi~ to
the~aooount oi ths~ M , ~Puiin~ ths smouat ot
+?q~ credi~ balwce remsuiu~g ~under tbs pro~iwoas
oi (a) oi Mid It tl~ere stull be a deta~der ~n~ of tbe provisioas ot t~his result,ing
this ~rt~y~
in a public e tLs premise~ oovered hereby~ oe it the M~rt~~ ~?oqwces ths P~P~7~ ot~-ec~?i~s atLsr
detinit, t~6e Martg~es s~ trwtes shall a~ ~t the time oi ~68 -oommeAOe~meati of suc6 pmoeeding~ or s~
the t~ims ths propsM.j is othar~i~s aoquirei, e ~mount then rsmaining to credit ot Mortgagor undae (~?2 oE
p~r~r~?ph prsoedi~ as credit oa t6s intera~ aocured ~nd unp~id ~nd ths bal~?noe to the prinap~l Wen
reaa~uning unpa~d on ~au! nots.
8~ wlllp~ _~1 ta~, ~ wa~e ~ad odree~o~ee~meaW a muoblpal ah~e~ ~ ae
~fo~pori~
~ ~pe~o~Iroa Las aoi be~ ~ b~~ ~ad ia i~t~?ut0 ~hee~eof tbr l~iaf~ aoy py? ~
prompi~ dellNe t~6~ o~ei~l reaeipd ibeeetoe b~ M
o~ p
p e.
~ 8s wig~p~emit~ ammit, a~ w~ ao wa~ jmpat~mea ae dstaio~?lioa oi rtd p~? veb~~ ih~~
~eept i+e~¦oa~bi~ we~e s~d t~r• a~d ia t~s aTmti oE ~s ~ of tbs D~o~o~ to keep tLs oa
piami~es asd t~6o~s ~0 6e ~+e~e~ a~ Mid peemi~, a impeo~~eme~nh thee~aoo, In
~ood repair tbs Martayps my?
maioe.oob ~pa~ r ia ih d~ee+s~ioa i! mw? aeem aeoe~r~ fae ~e pre~vi?aoa tbereo~ an~a tbs fun amo~mo
~t e~oD aod ev~ee~? ~eh p~ea~ ~t bs ~rs~i ~s~e ~ (~j~d~ ~ ~ ~6a11 bs ~ea~t~ed bpr
t6s liea at ~ soefpp~. ~ i : _
6? 8s wia p~ ~II aad ~i~ul~s ibs ao~s~~ ~ad as~sties, inotwdin~ rea~oo~bts Lw~ee'~ fees, a_nd ao~s
d ab4+~et~ c~ titie. isaer~d oc pdd at ~ tlme by tbe ~Iat~~es beoau~e ot tLe tailurs oa tbs ~wt ot tbs M
eoM~. a~r~e~, ~nd eoc~eores ~h~B bs ~n~ms~e~r dns aad p~abb aad ~
bs ~eaured"b~y
the ~
T. Hs w1D ooudanuu~ mdntain bwrd inwu~aaos, ot weh t,ps or~jp~ and amount~ ss Morfg~es m,,1
llrwn t3ms to lims reqmtoi+s, a~ tbs nn~o.emena no~. or bereatter on .~id ~-r~`m~' ~~~pa ezoeno wLsn ~
~oe aIl azch p~;ea~inms hn been mads nnder (a oi paragra~h Z bsrnoi Ls will py?~~+omp
dnsaq~ pe+a~unms AIl insue~nos ~h~ll bs ~m oomp~nies aP~o~ b~ and~poL'.
eie~ aad:+eoaw:ls tbee+eot sball bs ~dd b~ Ma~rtgeg~es and L~~s ~ttac6ed tl~ereto b.s pwab~~
l~e ~~awes in i~~or at
~ in iorm aoosptab3s to tire Moa~ea it~no~
ms~ds~ loe~ Ls wil
~gi
M'immaL'ats mtioe h~ mail to Mortgagss,
~ nDi~~.P~'00f . P~'~P~J? 7 a~6r6'~',r and aoh insunaos oompaq~
aonoeteed r wtbonsed and du+eated to mvoe pymenti for wch 1o~a ~~,+sct~? to M iart~ead a[
oa
~ Mo~ai'o~ +~d ~''t and tbs iaa~ranos prooeed~, ar aq~ p~ct n+eoi' ~bs
at ih apdon dtLec tl~s ~~clion at !bs iadebtedne~s Ls~b~ ~red o~t~ ~O t~s ~
~p~ee~~ oi~t~Let oi io~c3o~ aE t~hi~ mo~, ot ot~r ~ader a1 titls ~o l~6S mo~ag~
in~btedae~s ~e~d Le~~bj; ~II r~ht, titk, and mte~ oi t6e ~~ot
~and ~O at~ insursoos pdiaie~ tben in to~+os ~all pW tio ths pnrcL~ee a~r ~raaiea
S. He wilt nu0 ea~ecute or ffis oi reoor~i w~ instrnment wLich impwes a restriction upoa the a!e or oocu-
P~l P~'oP~'h de~xibed heraia oa th9~basis ot rsos, oolar. or creed,
9. Ii t~he pramiee~, ar any part theceof, be oondemned under t~be power oi emiaent domain, ae soquired
ior a publia uee, the ~ awarded, tLe proc~eed~ for ths~~ of, ae the oonsiderita~on ior s~eh aoquiei• .
tion, to the ezteat oi the ull amaun~ oi the remsinuig uapaid indebtedners eecured by f~ia mort~e
hereby aeagned to the Martg~gee, and hi~ heiri or aeeigns~ and ~hall bs paid _for~h~vith tio said M-' are
~ th~or ~~g~~e o=~ed on aa:ount oi the Lst nut~uring in~Wlmena of ~uoh indebtaeN~provided, ow-
ave~, t a~evgnee~ m~y ~t his discretion psy direcE to the ~~iortga~or his ~ein or
•4Y P!i't or aIl ofwoh award; prov~ded, th~t if the losa is guaranteed ar inwced; the oonsent of t~6e gn~
Loar o~ uuurer is obt~ined in adt~noe of eaid ymen~. -
10 Tbs Mortg~g~ee may, stany tima ~mg a suit upo~.th» i?pPly,t~o the oourt hsving j~uisdic
reoe
t3on thereoi for tbs ap intmeat of a reoeiver~ ~nd wch oourt i6a1[~~t~ aQpomt a receiver oi the premiaes
oovered bereby all Nngutar, inciwding ~II aad singolar the income, ~ta, n~ue~, aad re~enue~ from whst-
sver aom~oe denved, each aAd eve~ ot it~~ eapreaely undentood, ~s Le~eby moctgsg~eci. as if ipecifically
~et fo~th aad d~e~cribed in t6e ~rant.ing~ habea~um dauses Lereot. 3uch apgointmeat aLaU be made by
sueh ouurt Y aa ~danit.t,ed equity and a matLer oi abalute right to said Mortgagee, ~nd wit6out referenee to
the adequaey or ia~rdeqway of the value of t~e property ~aortgaged or to the iolvency or iasolvency oi said
u
Mo ar tLe defeadants. ~ueh reats profib, iaoome~ ~sues, and reveaue~ ~Lall bsapplied by s~h reoeiver
' to the lie~? of tLis mort~age aa~ tLe practioe oi wch oourt. In ths event ot aay default oa the part
ot t6s Mo~tgagos~?ereunder, i~he Mortg~gor a~eres to pay to the M on de~mand as a reawneble moutblv
natal for tha pnmi~es sa smount-at lwt eq~uvale~t Lo ~s-t~velith s) of thea~e+eg~ts oi t~?e t~relve montLlv
iastvlmeats p~yabla. n? tbe tbeioi current ~r plus tLe actual aanount oi t~he annuai t+?ze~, a~e~ts, w~ter
rat~es, aad i~sunaos pr~niums fa~ such year nat ou~e~red b~ tbe aforessid moatiil~ p~ymenta.
II. In tLe eveat oi any breach oi this mortgag~s or def~ult an the part of ths Mortgig~r~ or ia tbe eveat ~
t~?t an,,y of said sum~s oi awn~~y l~eraia referred to be not promptly ~ad fullj paid ~oo~rding to tLe t~or hsreoi
or in tbe e~nti that each sad every tbe atip oL?tans, ~resme~?t~, oonditaoa~s, aad ooveamt~ oi said aote aa~
this~nort~a~~,,~ ara aot duly, P~'~mP~Y, and inU~ pertormed or if t,he Mortgag~or be adjudicated baakrupt or
mads dafendant in a banlmiptcy or receiveeshi~ ~oeedin~s; thm ia eitbar ar aay auch eve~t, the s~id aggn-
~ats wm ment~ioned in e~id note shenr~a~n~ng unpaid,: rinth int~eresti a~ocrued io that time, and aU money
~ecut+ed he~aab a6aU beooms dus aad able ia~rth~n ~n
~ Y P~Y th. o~ thee~ftear. ~t t~e option of s~id Mortgsgee~ as
fuUy and oamp~et~sly as it all t~he said awns oi monep were ociginilig supiilated to be paid on such day~ an~
t~?in~in ~sid ~ats ~ in this m~o~t~a~e to the oontrar~r aotwitbstaadiag; aad thereupon or tbereaftcr, ~t tbe option
of wd Mo , w?ithont not~os or demand, swL ~t l~w or in equity~ may be prosecuted a if all moaevs
re
secund hereb~ mut,~red prior to its institution. 1he Mo muy foreclose tbia mortgage, ss to t6e
a~uat w declared due aad p~yiible, aad the s~id pre~mire~ sirali wld to satiefy aad pay tbe same togrther
with eosts expenses. and aDo~vaaces. In caee of gartial forec3osure oi thi~s mortgage, the mort premues
sLall be eo~d subject to.the oantinuing lie~ of this mortgag~ for the a~mount oi the debt not then u~
e
and unp~id. -
In such ca~s the pe+ov~ions ai tb» p~ragi~ph may agi?~n be ~va~ed of tbereaiter irom time to tim?e by tLe
Mortga,gee.
lz. No wraiv~et~ oi any oovenant Lerein or of tbe obligation secw~ed hereby ahsU st any time theresiter be
held to be a waiv~ oi tLe te~r~as hereoi or oi tbe note ~eaured hexeby.
13. The lien of thN instrunnent ~6aIl remain in full force and eSect duriag any postponement or extension
o[ the time of pa~me~ti oi the indebtedne~s or any part thcre~f ~eaurad bereby.
14. lbis is given to eecure the purchue money~ or a part thereof, of the landa heseia dracribed
~nd is e~oecutedn~i~eli~ered oonte~ngonaeouely wit6 tbe deed therefor.
-1 b. If tLs Mortgag+or default ia aa~ of th~e oove~unts or agreements ountained herein, ~ in said note, tben
tbe Mortgsgee ma~ perto~m the same, aad a11 espenditurea ~mcluding reason~ble ~ttorney's i~es) m~cie b~ the
M m so~~ shall draw interest at the nte provi ed for in the principal indebtedneas. aad sha11 be
~~tbirty (~0) day~ dt,e~r deanaad, and, togetLee with iaterest sad oosts accrued thereon, shall be secured
b7 ~'`6~•
18. U~wn tbs reqt~e~t oi tLe M~t~a~ee tLe Mortgagor ehaU exeeute sad delivee a supplemeatal note oe
aotes toe the amn oe snma advanced
b~
y tba Mortgsgee for the alteration moderniaataa, impruvement maia-
tenan~os~ or repair af aid p~aes, for t~axes or a~unte against tLe same aad for any ot~er purpae iutbor-
ised bsreunder. S~id note or notes sLall be ~ecured bereby on a parit~ with snd as tuIly s~ ii the advmee
e~idenoed ~by were incl~ided ia tLe note fint de~xi Rabovs. Sai~d supplemeatal note or notea stull bear
~oo~ciS,Zs.,a
440
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f b . i M . ~I~~
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