HomeMy WebLinkAbout1114 ~nd shall pay all other su~ns pro~~idrd to tx µ~id by this 1liortgage, and shali perfo~m, comply with and abide by tach and every the stipu-
lations, agceemeau, conditions and corenanu ot said promissory note and of thu deed, then this dced and the estate hereby created sha!!
~ ease and be null and ~~oid.
A\D THE \iORTGAGOR does he~eby furthe~ covenant and ag~ee as follows:
1. To pay all and sin¢ular tAe principal and intercat aad ot~e~ tu~ o[ mooey paYaDk Iry virtue o[ uid prwniawry note and t6u mort;aje, or citbcr. proupll~
on tbe days ~cspecu.Ylr ~be sau?e s~verally come due.
2. To par aU aad ainaular U~e ta~ces. aueswxnu, kv:a, liabilities, tww and ~ncumbrances ot c~rry oature oa aaid described yropetqr. each ~nd every, be(oK
t6e berutae dtIlflQYtAI iAd ao later tAaa 90 days a(ter lbe san?e~ se~•e~aU7 Aecome due snd pa)abk accordins to laMr, and d th: same sFuU aot Ee P~p~f
pai~ tAe 111or[gasee mar at sar time eitDer betore or atu~ delioquency par the same witbout M-ai~~ns ot a~IKtina 111e pptjpo W Iorrtlae, or anr ri~ht Aersunder.
aad e~ery paymeat w aude shall bcar iatcrett Irom the dafe thueo[ at the rate ot Tes (1096) perceat. per aanum.
3. To turaish w tAe ~twtsaaee policiea o( Aanrd iaswance oa the p~~ and all epuipmeat and Pe+w~a)p~ope~ tYs~ ~~r hena(ur oa ~aid ~remius eove~ed Iry
t!m mw4~~: that such pdiaea o[ La:ard inwnoce shall be p~aad ricb oompaoiea and ia amouots appru~ed br the A[ort~ee, Sut it is IK~ stipulated tlrt
the owrtsaeor ~6all i,a~~e reawaabk (~eedom o( choice in the sekuion o( the compaer or companies ~rit6 rlwm tl?e insurance n placed; sutb unuraace shan be
arried in amounu ..hich the ~tortgasee mar decm :ufficient (or ia complete p~otectioa. but in no e~Ynt sAaq insuraoce be carried (or fire ia an amount les
than tAe priacipal wm o( tlus morcS!Se darard iawrauce shaU be dr6ned af be~wu ance
( aga+mt ka~ to the pA~sical popertp dacribed is t6is
aad/or kn~ or 6aancia! or pe~wnal at of the matR~ors (roa 6re, w' or anr auu whanoever w6ere~n wcb lon or impairoeat eoub~
Uu s~curitY o( this murt~ase): wcA ~ icies o( 6anrd insurance t6sL be delivrrcd oo t6e Mortaasee ooe [ult busines d~y prior (d, wot a::pl holi~ u~d
is tAat e~cat, uoe daY pwr w sucA lesal Mlidar) to tAe acpin~ion o[ esistina iniuraace• (ailure oa tAe part ot the mortaa~ w de4~~ to tbe ~iw ~ d
t4e 1?[ortaaaee such pdicies u( insurance sfull comtitute a brex6 0( tAis mortsa;e. and at tbe oPtioo oI the 111ortsa~ee, t4e entirc amount o( the principal asd
iattrcst due or to ~ecaue due wr immediatdy mature. and tbe I?for iuimedutelq and ru4out aotice mar uuutute procYediaas to (or~ckae thp mort-
ws
ga~e w at l~e option ot the I?lortaa4ee. Policies o( huud imurance may Plxcd by the 1?tor~~er ia amounta aad ia companws trlected b~r t6e Mw
[or ib protection, aud t6e awrtsason co~enant aud a~rer tAat ~he prrmium or :husea (or wc6 harard imunnce if to be paid to tLe iaw~iwt ooopaniea b~r~tAe
afortsagee and wch premium or chvae sa adraoced shall ~e pa~d w the ~IortpSee A~r the ~iorta~ u a put and conditinn d tAis mort~a~e; tse policp or
policies s6a11 be held by tde 1?Iw[sa~ee snd s1uU be made payable to tLe \Iur~. ee ~y Aavin¢ uuc6ed or coonined in tfk policY a policies a New York sund-
ud Mwtsase Clauae vrithout mau~butiun makins lou nr Ios+es under ned ~ic~r or polic~es. rac6 aad everl I*a~a6k to tAe lUueS+RK, as iu intemt oar
appru; and in the event auy wm ot moa~y becuma paya6de uuder sur6 pdic~ or policies, t6e 1?tortSagee shal! lu~~e the optioe to receaY aad sadn~ ~
on aaount o( tAe iadebt~dncu hcnbi urured, ar to p~rmit the a1~rt~.r to r~c~ive aod use it, or any put thercol, fot other purpoxs, wit6out t1e
ios or impairias anY equity lien or r~6t under and bg v'utue u! this mort~e • 16e placias o( wcA insuraace aad t6e piyins u( the pnmium u( qKs ~~ra~
or anY p.?t t6creot ~ the )twtpsee dop not ~.~aive or aHect the option o( the Mortsasre to (oreclose o~ anr r 6t bereuadet and eacD aad erery payment d
iasunnce ao ~riade sLa 1 bear inureat frc.m date ot paYment tAereol at tlK nte that the mort~ase aote hereundrr ~ra. the Nort~~te acyaire~ title to the
p~operty 4ercuubo~~e descri6ed bY [oreclmure p~oteedu~ss or ot6erv~ise, any untuned premiums on aaY lruard ~nswaace eoverina the propert~r and held the
7~[ort6slRce are 6ercbr~aed to and slull belon~ to tAe lUortggee. 1f at sny tiwe durin~ t6e (iea o( this ~a~rt~a~e anY insuraoce polities shaU be taoee~aod
RlUfqcd PftmlYIDt 1\ e, t6e~e rcturned prem~ums ahall. at the optioo u! the I?turtga~ee. be uedited asaimt i6e ind~bted«~ss secured 6ereueder.
4. To pcrmit. commit, or wfler no wute, impairmeot aEandonmeat, or d'rerioration o! uid proper~T. or any part themif. and upon the (ulure oI tAe Mortpaar
to kerp the buildinss on said p~ rqr ~n sood condition o( repair, Ihe \fo~tSa6ee may demand the immediate repair ot uid Muldiaaa. ur aa iuneaae iw the
~a
amount ot secur:~y, or tAe i utt repa~meet ol the debt hrrebT secured. and the (ailure oI t6e \Iortgaeor w tomply Mi1b ssid deauad o( the ~lortas~re Ior
a period ot Thuty (311) da s, shal! comutute a brrxh oI this Mortaalte, and. at tb~ oNti~n of the ~to~teaRce. immediat~ly maturc the tntire amount o( pnntiyal
and iatereat herety xcure~ aad t6e Afortgaaee. immediatclr aad wuhou[ uo~ice. ~naY ~nstitute ~woceeJinFS to toreelose this alwtsa~e aed applr for tbe ap{w~nt-
ment ot s Recri~rr, u her~ina(ter prmidcd.
.i. To pertorm. comply with and abide bq exh and every thr stiqJation; a~~eemen~. a~noditiom, aod cmiwnts in said promiswry aote and deed sct (orih.
6. To d'li~tr to the \iortgaRee on or k~r(ore Fcbruary_ 1 of cx6 ~eu. ~a~c ~eaYipa e.iJeacin, tbr pa~ment o( a11 la~.(ull~r qppo~ uzp fo? dr ~xeed~ino~
alcadar yrar; to dcli~rr to t~e \t~rtsy~er receipb evdencina t6e~pa ~ment ol all lirns (or pu~iic im ~~.nemcnu ~.ithin linety (90) dari a[ter t6e y~me ~q
bccome du~ and pa~-aW~, and to pay or d~uharse ~ritAin \iuet7r (90) daya alter dut date, am. and al~ Swrn~mcntal leries that maY be ~uade oa t6e mo~taaaed
Properqr. un this \tortga~e or nutc, or io aay other ~.ar rcwltins troa tSe nwn~ate inJebtedaru xcured 1~ tlua ~lwtgase.
To pay all aad sin~ilar U~e costs, cha~Res. and e:penxs,_indudina IaM~er's (ees, reurnuWr incurred or paid at any time b7r t6e \tortF~gee. because of tAe
tailure o( the \lortSasor [o prrform, comply rith aad abtde bp ~u6 aod ecerf the atipulatioas, asrc~mrnts, moditions aad cmeuanb ot said promiswrp nott aod
this decd, or either, and nery sucA pl~mept shaR bear interest Irom datt at the nte u( Ten (tiM~) pe~cen~ per annum.
8. 1( anr o( the wms o( muney~ hercin refcrrcd w be not promPtlp and tullg_paid wit6ia thirty da>s ne:t alter t6e same severaUp eome dYe aed paya6le. or if
eaeh and e~rry the stipulatio~s, agrnments, eonditiuns and co~tnants ot sud p~omi+sary ~ote this deed, or either, are not dulp per(ormed, cou~plied a~~h
and :bided by. the a~~ate sum mentioned iu said promissorr note t6ea rrmainina uopaid, rrith iotcrrst accrued to that time, aod all n;ooeys securtd 6ereb~r.
sha11 become due and pa)~ble torthv.-it6 or t6ercaltn. at tAe option of said 111ortptee. u(dlp aad completelr a~ i[ all o( the said wmf o( mone~ arere
wiainallr stiputated to be paid oo wc6 ~aT. anythina in aaid aote or ia tbis moruase w t6e cootruT notuithsuodus~ and tAereupon or tberea(ter. at !he oprioo
ot said a~wt~see, without notice ar demand, wit at law w iu equity ma7r be praaeeuted u ii all moue~s xcured 6ercbp lud maturrd prior to its institutwn.
9. TLat no ectensioo u[ the time c.r modification o[ the terws or pa nent hercimboce, and no nlease o[ aer part or parts o( t6e ~es vri~Lwt
the avnseat of the ~iwtga~ee shap rrlrase, KILhY. or di~cha~se the ~wtaa6or Imm the payment uf an~ o( the sums aerrbq ~eav~cd, bu~ 'm s~ucA event t6e
Mort~or sFup ne~trtlKlam be IiaWe to pa7 suc6 wms accord~ns to t6e terms ot such extensinn nr modifintion unles spea~6o0r rekased and d'achar~rd ia
writin~ by tbe ltortga,R~'e: and (urihermorc. that accepunce oI put pa~meat o( an~ iu~ulmen[s o( principal or interest. or bot or of pvt perlamance p[ apy
j eovenant or drlay (or anr period ot time in e:ercuina the option to matu~e the eotire debt, alull ~wt opente u a wai~rr o( t6e ri6ht to e=treife sueh optioo
, a aet ot sueh d~tault, partial uceptaner or anr wbsequcnt dehult.
10. Und7 dr(ault in tl~e per(ormance o( tl~e eovemnu and a~reem~nes oI t6is ~fort~q;e. the Afortipaor s!?~II be eautkd w euUect the nnts, ismes. prrpaid reau4
or seeuritT moniu, deposib and proSb (rom the premisn hereiobef«e descn'bed, but in use o( a detault in wy ~f the terms o( tl~is I?tort~a~ , or t6e filies d s
hull to (orerbse this or any otbrr mortaase encumberin6 t6e vrithin daeribed P~operb. the ~tort~asce shall iwmedutelp and xithout notice 6e entitled. as a matter
o( ris6t, and wit6out recud to the ~alue o( t6e premises, or ~od~encp or insdvenc~ o( the puues, to ~he appuintmeot oF a Reeeiaxr o( t6e mort~~ed propert~r~
both rcal and pcrsonal, a~ o( the reots, issun, PreWid renhk or aecurib monies, deponin and profib therco(, v.ith the ~a~ul po`rer of Rceenen in soeh
n~w~ be continucd in posusswo ot the nid propertp uatil th~ time o[ the sak thereof, ondcr snch forcdoaiere, and uaol t6e eonfirmatioo
11. It foreclosure proceedinss o( any second mort~aae or second trust deed or anv li~n of any kind should be irotituted> tLe atortSasee maY at ib option, imsed~•
ately or therea(ter declare this lfortqase a~d the indebtedoets setuerd 6ertby due aad pa7ra61e.
12• That the mailin6 0[ a..ri~ten rotice o[ drmand, ad~4caxd to the owner of record of the mmt~ ed ~.remi~rs. directed to the said o„ner at the Iut addrrss
xtuatly turnished to the Mort~ee. or directed to t6e said orver ~t uid mortpsed prrmises. and maded b7 the Uaiad Sata mails, s6a0 be su~cicnt notice
and demaud in aor c~te uisin[ uader this instrument and required b~ the prwisiom 6ercof or b~ law_
t3. 'I6at in tbe e~Yat tbe MmtRagor sLould assian the renb oi the mortsaacd premivs or anr put thercof rithout the cooxnt ot the Mortta6ee. then tbe
entirc principal sum utur~d hcrebl shall, at the option o[ the Mortaasee. become ••••••,••t~tel~ due and pa»bk.
li. To the e:uet o[ t6e indebtedneu o( the !~fortaasor w the I~ortsasce deser~ed hereiu or sceurral 6rrrby i6e \fo:t~e u hercb; w6ro~cated to tLe lien or
liem and to t6e riabts ot the owven and hoiden thereot ot eaeh ~d everp morttan. lien or ot6er encumbaaces on the land descr~bid lrrem vrhic6 u p~id
andlor satn&d. ~n ~r6ok or in put. out of the proceedf ot t6e ban dcaer~d hc.~in or secvred 6crebY. and the respettnr liem o[ said mort~es, liero or
ot6er eneumhrances, ahall br and t6e nme and eac6 of tlxm lrrebfr is prexnrd and slull p:ass to and be 6rld bt t6e ~iat~aee 6aeia u aecunq/ (or tbe
indebtedness to t6e at«tsasee hrrfin desc~ibed or ~b~r xeuRd. to t6e same ~:tent that it would ha~r bern pese~ved and ~.ould bave been puxd to and
been held 6t t6t ]~fortRa~ee had rt been dulY and6re~ularlr asaiaoed transf~rred. xt mrr and Jelivcrcd unm tlie )iortaagee bT separ~te dted o( nt
not~rithsnnd~na t6e (ut that tbe same may be satisficd and canortled of reoord. it bring the intentioa o[ the putia 6erero that tbe svne M~71 6e ss
i~and
uooclled of rcowd by the holder; therrof at or about t6e time ot the reeordius of t6is Mortsase.
I5. T6at if any action, or proceedi~[ shall be eommtoced bp an~ rson Wl~er than the lwider ot tLi: mort~e (except an xtion m(arclaee t6is mort~ or
w edlect the d~bt tecured therMY3 W~rhich action, or ~na, t6e 6dder of this ~nort~e is wade a pa~t~. or m whieh it sLall beaome neoratr~ to defend
or uphdd. the lien o( this mort~ase ap suma paid bp l~r u[ t6is morupae (or the e.cpense o( anr liti~ation to proseeuu, ar de[end, the riahb and
liem crcated 1~ this mortgaae (icdu~iua reawtuble oounsel fees), shap be paid b~ the 1lfortSaSor. w~et6er vs~t6 iatcrest t6ereoa, at the rate a( ten (10~)
pereeoG per anaum, and any such sum, aod the interest tbereou, shaR be a claim upon nid prem~ses, attxhius. or accruina. w6uqoent to the liea of thi~ mort-
' Ea¢q and :hall be deemed to be secured by this mort~~e and b~ t6e note that it xcure:. 'Il~e sums paid bT the Mlder 6erco[ in aceordanoe rrit6 the terms o[
thn para;npb. shall 6e by the ltort6asor unto t6e idder bcreo( arithin thirtr i~) ~l~s uf said paYmeat, aod the fa~nrc or ouinioa oI t6e M so
w a~ ~ ~AUa< ~
t6aaee w add sucA sums w tAe principal iodebtedness o[ th6 mort~aRe and the nou it aeewe~, and/or at ib
![+R~ and t6e note it xcum w be in defadt, tbe mau aQ of the un ~ dedare thu mort-
n+~pon t nc~ paid iadcbtrdnes includin~ the sums adranced hveu~er. In aq aetion, or
proeeedins. to toreclose t~is mort or w recrn~er, or ooiket, the debt securrd ihercbq> the prorn~.~u ot law respeetiaa t6e reeoav~ o[ casts, disb~uxments and
alloranees shall pm~l, unaffeeted~ this tocenane
16. 7hat. io t6e errnt oI a~ dc(adt in payin~ the faid prinapal a iotrrest. the rcnts, Prepaid sccurities and depoaiK, rnenne aad pro6b o( t6t said prcmisn are
hereb7 usianed w t6e holdcr o( this mort~e as turt6er secunq for the ps.mrnt o( the said indebtedneu.
17. 'I7~e a6stract of tide cmrrina the encvmDett~ Properqr yha(j bejons to Zqd remain in the prosession of ihe 3(wt6aate durina t6e lien ot this mortsase.
~ 18. That it is tbe inteot bcrcof to ~ccure paymeot of said nott and obliption whether the entire ama~at .h~ll have betn advanced M tF.e Mott~ at the date
hercof, or at a kat~r date, and to securc anY ot4er amount or amounn t6at ma~ be added to t6e u~debcednes under t6e termf o( tho imtrument-
t6is mort~~e secures the principal dcbt af set out in the nou secured hercby, and shall also 6e seeuri~or an7 other dcbt due or advaned reeen~ed bp t6e
Mortssaor [rom the 1?tort~ee during t6e term 6erco[ and u xcvrit~ (or all indebtedness that
to the Morgasee duri~ the ~iistence o( this mort ~T h~realter be due, oMina or e~cetias from t6e Mort~or
Saae, and aor nocral or renev.als n( note or notes (or aid praeot or [unue indebtedneat.
19. TLat in tbe e~ent the premius herrbv mort~ed, or any part tbercof alul) be condemned and uken for publie use under t6e power o( eminent domain, the
~ ~fort3asee sFull havr the rig6t to demand that al! dama~ aw=rde~ tor the takina ot or damages to sad mixs sFuU be
ccswn or assisas. up w the amount tben unpaid on this morta~e and ma~ be ay~ ied n ihe ~ W~d to the Mor~a~e ib su~
~ as?ees to Pa7 [o ehe Moccga;ee out ut aoy aMard, ac °P° wr~e or p:~meoa lase W»bk t6ereon. T6e lilortassor
' _'0. T6e ~!o ~~Y's (ca iu an amoust equaUios ten percrot. (IOqel o[ the aw~ard-
rtsaaor shall, within fne (Sl da)s irom written ~mand b~ the Mort~aace, ~urute in suc4 form u ~hall be rcquired b~ tLe Mor[~asee, an euoppe!
G nrti6cate a~ w~i~:r o( defrnses. dufr adaowledsed, aettinR (orth t6e amq~nt o( principa) and iaterest unpaid hereunder and the seneral sbiuf o~ stid mort-
~ RaRt. and the (ailurc o( the 11[ort4aRor to uuke aad drliver stid estoppe! nrtiFcate and ~.siv~r o( de(enses ~t6in Ilw~ time a(orttaid sha~ eoottitnte a dr(ault
j and a brach ot thn mortgae and :6a1! eotitk the 6older 6erco( to declare ~11 ot the unpaid priocipa! balance immediately dm and pala6k.
~ ?I. I[ a conve~ance shpuld be m~de b~ the 11lwtaason o( t6e prcmises herria druribed. or aev part thereo(. v.it6out t6e Mrritten eoaunt of tLt
~ ~ritlwut assumptioo in reRular form oI la~r bY the aranter o1 tbe oWiaation to thr 1[ortgaSec cmted b~ said promieorr note and thb mor~a~ex~~~then
aod iw
that n~ent. and at t6e option o[ the )iortSa6ee. and witbout notice, all sums o( mon~y secured herebr shaU immediatel~ aod coecurrcnd~ Mnt6 ar6 ooovef-
ance bccome dur aod payable aod in defadt.
I to anp o( the existin6 imprmements thereon ~cithout the vrrittra consent o( t6e ~(ort. er, and io the event o( any tion or atum t tioo
i t6is murtgase acd all ww srcured her~ slull imm~dutelq trrcume due and coUecu at the option o( t6e 11fwt • de~cr~ed prcmses
in 6rst claa rcpair and in as coaditwp at t6t~ no~r ue• to permit the 1i.rrtsa to tnter u ' Premises. Tht bu7din~ no~? located o0
prrmises 6rrein or ~?hich maY ~altrr be loated ar erected ihercon sha~ not be or removrd therelrom. altued or rcmodeled witlaut the
~rrittcn tonsent of the I~for or asiRas; and in use o( ~reuh ' n. the s tsason shall be liable W tLe 11(ortsasee or
~ PifLff 30 d010 Of t~l! mOf __y` L~liO. ~O ~b tOtrt!(7~ blCOQIf
aaisns tor anT or impavwent o( the rtRase: aod t6is mwtsase aod note or ootn secarcd the.~..~ i
immediately dne~ps~zWe at the ortt+ln'~'- T6is mortaaRe lien e:tends to an~ Muldins oaw sitmte or which ma~ hera[ter be situtte a =
located on :tid rc e comyoons nid ~d~ass, w,hether attx6ed or debched oo the rcal estate 6ercin• aod io ase ot t6e removal o( aup
buil on said premixs or ~.hrch ma~ bemfter br located tbcreun or t6e maurial eom i
. po+ ua same durias the term of th's mortsase b some othtr
?3. That, M6eneaer in tbe sok discrctioo and judament o( the Mort~a~ce it s6a11 be for t6e bnt iaterab o[ tl~e Mwt~ee toreq
wre additiooal securiq fram tbe
Mwtp~or and. in wder morc (u11T W proted the ~ecuriq~ o( thn MortQSe the ~iort~ee sha~ 6nd it necenary .o to do tMn at the optioo o( t6e D~ort-
6~iK aod oommeecins rith the first uan~hl parmtot dau atter t6e MmtsiSee shall luve exercixd its aption hercunder. t~ie toUowina terms, tovenanb aod
cooditions shall become in full (orce and e~eet ~n sdditiov to all o( thc t~~m~. rnrenants and conditioro 6ereinbrfore xt (orth:
~ 71rt tht Mmtsasor will wset6er wit6, and in additioa to, t6e maethlp W~ment under t6e terms of the note senved hercb7r oo ihe fust da~ of rxti
mouth unW t6e said note is (:ill~ paid. ~rill pay to t6e 11lort6asee the Idbwina wm~:
(a) A sum tqml w tLc s?eund rmt~, if any, nut dae, plm the premiums that Mill ne:t becaue due andpa
yable on policies oI firc and other hvard imuranoe
ooverin~ the mor ed Dropertr. plin u~es and aacssmenu ne:t due on [he mortxaSed propertr (aU a estimatrd b~ the ~at~ee and ot w6ich tLe
}fort~asor is aotifiC Icss aq ~ums a{rcad~ paid therc(or d'nided !ry the number o( months ~o elapse befon o~e mont6 rior tn t6e date w6rn wch srouwd
rrna. prcmiums. tua, and ass~ssmcnb wiU become delinqucnt, wch wms to be held try \fortSa~ee in trust to pa~ sa~Rroand renb, premiums, u:a, aad
splC~ iift760CI~b.
~ lb~ ~~~k ~~+~~nb yaTa~We pursua~t to wbpara~nph (a) and thoae pa~-abk on the notc securrd hrrrbT, sly11 be paid in a ain
m~t6, to be ~pptied oo the foUo+?inS ~tems ~n the order statcd: Sk P~1~et caeh i
; (1) ¢round rcwtt, taies, aaetamcob, Gre, and other 6azud insurance pr~mium~; '
(Ill .ou~ ~ t6r note ~ed herebZ• and ~
~ (1[I) amortir~tion o( Ihc principal o( satd nott.
s . Ao~ dtficieoc7 in thr :mouat of such a~rrRate montNy pa)ment sha11. ~:,tr~a made ~ood by ~he ~1~~tpRor prior ro the due date of the ne:t wc6 paymeat.
con~tiNte an e~Ynt o( dc(ault und~r thu ~~ort~e. O R ~
~ amK170 ~~E1111
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