HomeMy WebLinkAbout0430 pWicp x polkles said MOitTGI~C+EE sMl1 F?~ve th~ cRtion to no~iv~ snd apply n» ssm~ on saau~t ot tik ind~bt~dness sKwrd M~b+? a n?
pe~mit ssid MORTGACARS to reuiw and us~ it or ~ny put 1Mhof fw otMr pu~poses without tlwr~by waivie+~ or in+pairi~ ~r ~quit~r.
lien o~ ~ist.t unda~ w by virtw of thls Mortp~t: snd in tM w«?t s~ W MQRTWGORS sl+itl M: any ro~son fsll to lceep tM ssid premises
so inwred. w fail to deliver prompty any of said po.~ici~s of i~uu~anot to s~ld MORTG/1GEE. or fall promptlp to p~y tully any premium tlwr~fa.
or io u+y respect fall w perfom~, disch~~e. arecute. effect. ax+?Pkt~. ca*iPh~ with and abid~ bp N+is tove~ant. or srw D~~t hs~eof~ s~ld MORT
G/1GEE n?aY Place snd pay for wch insucar~ o~ any part tMroaf without waivi~~ or affactins sny ~tion. lia~, equitu, a ~i~ht undar a by
vi~tue of this Mort~s~e, snd t1+~ full anaw~t of e~+ sr+d awry wd+ paymcnt shall bs invnediately dw ard paysbk ~nd shall bwr interest
trom tM date theraof until paid at the nte of six ~nd~an
ths per ce~t pa: smum u+d together with such ~nterest shsll be secured by tne
tian of this mortgs~e. ~1111C.'
4. To permit, camnit or wffe. na waste, impairme~t or deteriontio~ of said p~operty or srhr part thereof.
S. It is hereSy specificaly ag~eed that a~y wm or wms wtuch may be laaned or advanced by the Mortgs~ee to the Matga`a at aoy
time afte~ the ~ecarding of this i~dentu~e, together with interest ihereon at the ~ate ag~eed upon at the t~ms of wch loan or advance, shall be
eqwlly secured with snd have tha same priaity ss the original indebtedness, and be subject ro aU the te.ms and p~wrisions of this mort~aQe:
Provided. that the aggregate amaint of principal outstandi~g at aM? time shall not excetd an amount eqwl to one Fxu+dred and tifty pe~ cent
(I50~) ~f the principal smount originally sccured hereby
6. To pay all and singular the costs, charga ar~d expenses. including a reasonaGle atto~ney s fce and costs of abstract of titk in.
curred a paid at any time by said MORTG/1GEE because w i~ the ercnt of the failure on tM part cf the said MORTG/?GOR b duly, p~~nptly
snd fully perform. discharger. executr, effect, compkte. comply with and aaide by each and Pvery the stipulations, aereErt+ents, conditior~
and covenants of said promissory .wte and this mortgage a~y w either, and said costs, charges and expenses, each and avery, shall be
i~rx~ediately due and payable; whether a not there be notice, demar~d, attempt to rnlkct w wi4~p~itli~g; and the full amount of exh and
every such payment shalt bear interest from the date thereof until paid at the rate of sb. and ~tMt{\1' per centum pe? amum; and sll said
tosts, charges and ezpenses so i~curred or paid, together with wth ~nterest, sF+all be secu~ed by the lieri of this mort~ags.
7. Thst (a1 in the event of sny broach of this Mortgags or default on the part of the MORTGAGOR, or (b) in Nr ~va~t sny of sald
wms of money herein referre~ to !+e not prwrptty and fully pald within thirty 1301 days next after the same sevently become due and payable,
without demand or rwtice, w(c) in the event eacli and evtry the stiDulations, argeerne~ts, conditio~s and covenants of said promiswry note
and this mortgage any or either arc not duly, promptly and fully perfamed. discharged, executecl. effected, compkted tar?plied with and
abidecl by, then in eithet or any such event. the said aggregate wm mentiaxd in said promissory r+ote then rtmai~ing ~x~paid. with interest
accrued, and all moneys secured hereby, shall becane du~ and payable fo.thwith, o? thercafter, at the option of said MORTG/1GEE, as fuly !
a~d compktely as if alI of the said wms of ma~ey were cxiginally stipulated to be paid on such day, anything in said promissory ~ote w in
this Mortgage to the contrary not withstanding; and thereupon or thereafter at the option of said MORTGAGEE, without notice w demand,
wit at law or in equity, may be pro;etuted as if all monies sccured h~eby had matured prior to its institution.
8. That in the event that at the Eeginning of w at any time peoding any wit upon this Mortgage, or to foreclose it, a to reform
it, or to enforcc payment of any claims hereunder, said MORTGJIGEE shall apply to the Court having ~urisdiction thereof for the sppointmcnt
of a Receiver, such Court s1w11 fort~iwith appoint a Reteiver, of said mortgaged property all and singular, including all and singular the
income. profits, issues and revenues from whatever source derived, each and every of which. it being expressly ur~dentood. is hereby mort-
gaged as if specifically set farth and described i~ the granting and habenalum clauses hereof, and such Receiver shall have all the broad and
effective functio~s and powers in anywise entrusted by a Court to a Receiver, and such appoinirt~ent shall be made by s~xh Court a, an
admitted equity and a matter of absolute right to said MORTGAGEE, and without reference to the adequaq w ir?aciequacy of the vafue of the
property mortgaged or to the sotvency or insolvency of said MORTGAGOR w the defendants, and that wch rents. profits, incomes, issue~
and revenues shall be applied by wch Receiver according b the lien or equity of said MORTWGEE and the practice of wch Caurt.
9. To duly, prompty and fully perfo.m, discharge, execute, eifect, cornptete comply with and abide by each and every the stipu- '
lations, agreements, conditior.s and covenanfs in said promissory note and in this mnrtgage set forth.
10. That in the event the ownership of the mortgaged premises, or any part the~eof, becomes vested in a person othe: than tF~e
MORTGAGOR, the MORTG/1GEE, its wccessors and assigns, may, withouf notice ro the MORTGAGOR, deal with such sixcessor or wccessas
in interest v?tith reference to this mortg~ge and the debt hereby secured in the same manner as with Mortgagor withwt in any way vitiatinQ
or discharging the Mortgagot's tiability hereunder o? upon the debt hereby secured. No sale of the premises hereby mwtgaged and. no" fbt~.?~i-.-
bearance on the part of the MORTGAGEE or its waessors or auigns and no extension of the time far tt~c payrnent o~ the debT hereby sacuied:
given by the MORTGAGEE or its successors or assigns. shall opente to release, dixharge. rtwdify. change or effect the origkwt li~bl(i~i ~pf
the MORTGAC,OR herein, either in whole or in part. ~.`:`~t'` `u •
• y•• . s
11. It is specifically asreed that time is of tF+e esser~ce o"r this oontrsct and that no waiver or any obligation M~e~i~er or of the =
obligation secured her 1 t anY ti~ne t1,~reaft be W be s wa'vei eo~s hereof or of he instn,ment se~x+sd; t~ejtya~ _
IN WITNES~ WHEREOFStFn+e ~mideMQRTWGO~~ rs ana a~lX~d 1LS~C0~~ S~~ ~r first aforD~ai~d'.,~pi^p. _~1~
~ SiBned. Sea and delivered in of: . . - - • - - "
p ence ' - - .
~ - ~ ~1;.
T~~n_ _ 1~~~~~., Reelst~ne Development CoFpoiation; : ,
? ~,8,t,0~ . , . ~ . ~
a
- ~...~-f
i ~
: _ t y-"-/~~ -
- - BY' ~ - - slde _i .cs~?u
- Attest:
- - - s to - - ~ l~~ison ~ ~ Secretar
STATE OF FLORIDA Y
. ~
COUNTY OF-~T L- Ll~' 1 F--- •
e.~ ~ ~~ih ~roa BE'ITY YATES _MOORE~,_~~~~ _of _Reelstone Deyelopr~t
Corporation, a Florida _corporation
---~1[7~ibe to me w~eu w,own. and kno,~n, w me to be the ir,a~ivi~ae described in
and wFw e~clAited th! nQ init t and atknowlecl~ed befote me that t exeCUted the for the purpoaes therein exprernd.
As the Act an3 ~ of sa~Corporation theiLUnto du~y authorize~
wmvESS- ~?n? +,.~a ,~,a ~i ~i ~SE:~.E01_~c~.REtI~R~ED-~_ ~.~o~snn.~2.---- . D. 19__~l7.
! . ST, IUC~E COUNTY. ~LA.
P~_ ~ Fi=CORD ~~cRIFIEO
_ 161813 ry~~~~,~~~.~Sh~~F~~
= • . : u : . , - My ooernission e~iros:
_ •
: '6T ~l~II l 7 Pl~ 3. 0~otary PuWic. State df F1~reAa x! tat~ W
~;f ~!,3 r_ ~ My Commission Expres Oec. 11, 1970
~ ~ . LBonded by Transamerica Insurance Co. a
- ~ --T-
STATE OF OHIO - Ro~~R ?-o~n~as
GOUNTY OF TRUMBULL CLERK CIRCUtT COURT;
Secreta~Y~
Before me personally appeared RODNEY KARLSON, ~P~i~e~t o€ Reelstone
Development Corporation, a Flor'ida corporation, to me well known and known to me to
be the individual described in and-who executed thE foregoing instrument, and acknowle~iged
before me that they executed the same for the pur~ses therein expressed, as the act and
deed of said corporation, thereunto duly authoriz d.
.
N'ITi~ESS my hand and official seal is day ofa Octo 1967.
.
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'ti~ =
~ • ~ - i; i' ~
: N tary Pu ic, tate an unt o esa1'
l~+~t~~y Se~) mmission expires: pR~~A. A~tER~No ary Public
„ . .f O R 1Rtl;'~U!LC~'~1TY
~ ~ . aoac 1S9 ~ 3 a 3 7~ r~m~:.,~ ~ . _ ~ . ; . _ : ~
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