HomeMy WebLinkAbout0369 ~Oc~T~R f~RTH all additiona, rspl~cementa and 3~pro~?eaen~a ~o a~r oY ths
toregoi~ng, aad all and aiagulsr t?b~s tiene~oea~~• her~dit~eaata aad appurtenancea
t,b~eret?o balougir~g, and Lhe rante~ 38auea and protita t~hereof, and aleo all Lhs
eatste, right, title, intereat, ha~aeetaad, daror~ sep4rat?s oatate, poaeeesioa,
claim and de~r~d ~?hataoavsr, aa Mell in la~ as in equit,~?, oP tit~s s~id MoTtgagor.
in aad to t,he aoactga8sd Praparty and every psr~ tber~so! xith t.t» appurt,et~anr.es,
apecifics.lly iucluding all righte aAd ~quitiea ot rsdetaptioa, all o! Wh~ah are
hereby expreasly ysived. (All o! tt~e loacegoiag, ~+hethsr canaiating entlrely af
real propvr~y or entirely ot ch4ttela, oar ot both real pro~erty and cbatteia!
is herein tor aomeniencs cslled t.be "e~ortg46ed P='op~rt~"~ •
_ TO HAVS AI~iD TO ~D the said wo~t~a6ed pro~pen'ty and ev+ery part thsreaY
unto the Hart?gagee forev~er.
PROVI~D AI~TAYS~ and thia mo~rt?gage is on the ex~reas conditiou~ th~t if
t,he ~iort~agvor st~?11 pay ar oause to be paid all oi t.he moneya mentior~ed in said
"Obligation" ar~d ~he intereat ~he~soa~ all at tbe ~times ar~d in the naanner as
therein agi~eed to be psid, accaa~d3ng to t~be '~rus int~euti axxl ~anic~ thereaf,
and sdall psy all other sun?a pro~vided to be paid by t?hi8 taartgage, and ehall
perforis aad. abide by all tbe cove~?te and agreements her~in aud in eaid
"(~ligation" aoatair~ed, then t.heae ps'e~ents she~ll be void and the estate herein
and hereby grant.ed ahall ceaee and dstermine.
QND SAID HatT(311G~t does hereby cove~ant xith the Hortgagee that asid
?ior~~agoar, at tbe t~e o~ eaecution and delivery of thees preeeuta, ia t.he
abaol.ute o~mar oY aud in poasession of aaid mo~t$aged property; that he has
a good rigbt, f1~1]. paR+er and 3aWfl~l authoacity to corney tbe saote in t~he nsanner
and fat~n t~ea~ein eet forth; t.bat eaid praperty is t5ree and clear o~ all liens
of ~hat.e~ver tntura, except as specifically mentioned herein, ~nd ~io7'tgager
tl~lly Warrants the title to said property and M311 defer~d the saaie a6ainst all
l,a~ilil cl,aima and demands except fran the xarranties contained in the encwaa-
brancoa herein speciFically set ferth.
AND~ T~ ~iQtTGAG~Et does hereby ~rther covenant, pramiee and agree ~th
the Hortgagee, ite succeasore arid assigns, as fulloxss _
l. ~tortgagor xi1.1 not ca~it arW xaste, ~r ~reaken or impair the security
oP thi8 mortgagE; xill pay, prior to delinquency, all taxes and ass~ssments
levied o~r in~oaed on ~id property; t+ill loaep tbe, mo~'t~s?6ed Pac'o~'ty ioatired
in suc6 manner and iri euc2i amaunts a s Nartgagee m~y irequtirb; and Mill. aot
remove ar~}t chattels, 3.f included in thia ~ort~aBe, t~'om the premiaes xhere they
i are nar sit,uated, xit~hout Kortg,agee ~ s ~+ritten conaent.
. 2. In the eveat of suit to Yoreclose thia moart8a8e, Hortgagee shall be
f entitled, as a matter of right, xithout regard to tbe value of th~a mortgaged
pro~erty or to the solvency of Hortgagoar, and W3.thaut notice, ta tbe appointment
~ of a Receiver oY the ~nartg,aged propar~J' and the inca~e and Prorita t.hereof.
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3. In the event oY Hortg,agor~ s fiailure to pay ta~aes, or te keep ths
pre~niees insured as required, ~Iortg,ag~ may, at its option, bu~ is not required
to, ~c~ auch payments, aad tbe su~s so advanced shall be repsid by riortgagor
~ With intereat aa provid~ed in the "p~ligation", and said suns ao paid by the
iiartgagee ahall be secured by this nmct;~age.
!t. In the e~vent oY any deYsult - in t~bs terms of tbe '~'Jbligatlon" or this
mortg,age, hartgagee may, at its option, decl~are the urhole 3ndebtedness eecured
thereby to bQ f~mediately due and payable.
~ 5. That no extension o~c modificstion of tbe pe~y~eents to be ffide as
h~ereinabave set forth, and no release of ar~y part ar parts oY the ~aartgaged
property, or of other coLlateral securing the abrnre-described indebtednesa,
even thougb naade rrithout coneent oi the I~:ortgagor, ~ha11 release, relieTe, ar
~ diacharge the ?Iortgagor. ~'ran the payaent of ar~y sums hereby aecured, and
~ Hort,gagee sha11 bave t~he rigbt to relea~e fraaa the lien hereof any portion or
portiona of the ~ortgaged praperty, o~r otber col2ate~ral h~e7.d as security fo~c~ _
eaid indebtec:nesst i~-~t~espective of the valus oY tbe releaeed partion~ xitbout
affecting the ~ien bereof aa t~ -the paartioa ar~ por~ions no.t relessed, not?Witb-
` ataading tLe fact thst such releaee or releases a~y be eisde ~?ith~t lato~ledge
~ or conaea~ of the tlortgagar, oac~ cf ar~ t)r+antee or Crra~eea ot pnr~ions at such
praper~ty tt,~eretoio~re sald.
n~
BQGK
~ • • ° R 158 PACE 369
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