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Home My WebLink About0138 AND the Mortgagor dces heaby covenant and agree: t. To pr~ aU aad dn~cular ihe priaeipal ~nd latereat and other wms o[ moaer payaDle b~ ~irtue of s~id p~omissor~ uote u?d lhls mort~a~e. or cltAer. praaplly oa the d~ys reapetUrel~. the same serera117 eome due. 7b psy aU •nd slaivl~~ the ta:cs, ~ssesamenL. le~les. 11~b111Ues, oblipUau and Ineumbranus ot e~~r~ natura an sald dex~lDed peoperiy, oa thts mortp`e or note. or tn an~ w~~ resulUn~ tran ihe lndebtedneaa ~eeured D this moM6a`e, eaeL ~nd e~er~ ~vAea due aad p~y~Dle aucotdlnl~ to la~e, Detore they beeaae dellnqucnt~ w?d !t tLe aame shall aot De pe~ompU~ p~id ~e Baak mw7 wt any Ume dt6er betore or atter deUaqueoci pa~ the ~ame ~?Itbout wralvln~ or aseetlns tLe~! on W foreclwe. or RoY ~6At dereuader, and e~a7 p~yment w made sdall beeome part o[ tIIe lndebtedaess securni Dy t61a mortp`e, and sDaD beae lnterest trom Lhe d~te d pa7ment Wereot at tde nte Provided la the promissae~ note seeured 1?ereb~• and e~cry paymeat w made. ~nd lntemt thereoo. slull De repald by iM mortta`or to tde Banti in sueh manne~ as 1he H~nti sMll requtra 9'he mortR~tor further a~tees to ddlver to sald Banl[, on or before ll~ren fSth of dcL ~eae~ tu reeeipb evldeaefns the parmeot ot all lawfult~ imposed t~xea tor the preecdla` ealepdar Yeu ~ad to delher to sald Bank re~i~'a -g thr ~rmrnt o! el! 1lena !ar pu~ll~ _ Improremeab wlfhln afnety l90) dari af1a~ the s~a~ shall beoome due and pa7aDla 3. To keep lhe DWldin~ •ad all equfpmeat and ~~yo~1 Propert7 nn~r or hereatter oa uld premtses. co~ered Dy thb nwrti a lasurcd agaln~t loas oe damase b~ 6re ~nd wch other insu lrab e perlls ~ the Baat shaU from tiwr to dme require. iu such amouub ~s tLe~nh sh~ll requtrc. b~ ~ eompeq~ or companla and throutth an egeiscs setlsfaNory to t6e Baak. and aafd pollq or polkta aAall be Aeld b~ t6e Baak ~nd ~hell bear a standard New York morhl~ltee el~use witdout eonlriLuUo~, m~kfa6 the loas under uW puUolei pa7able to the Hank aa moiWaee ~i ita interest ma~ ~ppe~~; ~nd ia the evrot m7 sums of m~auy become payable uadet weh poUcy oe policla. We Hauk shaU ha~e the opUon te reedae and ~ppl~ the aame oa ~coount ot the I~eDtedaess hereb~ secured, o~ to permJt 16e mortgal~?r to reeelve and uae i~ or aoyp~ rt thereot, for ot6er pueposes, wifbout thereD~y w~irfns or impairlns any equitp. ~a a. rl6ht under and b~ vutue ot thb mort~arte• ~nd 1n tbe e~cnt tLe morlgaRor does aot eomplr wlth thii eovmaat. the moriBeRee ma7 P1aee and paY fot weh iawraace, ot an7part ihereof. witLout ~ralHna or aQ~y1n~ the optlon to foreelose. or any risht hercunder. and erery peYment ao made shtll Deeome part ot tLe fndeDtednesa setured b~ thta mortbt~e. aod shall bcar lnterest trow tde date o! p~Yment thereof at the rafe provided in the protnissorT note seeured 6ereD~; ~nd erery pnpment ao made, end lntcrest thereoo. ahall be reDaid b~ the morts~Eor to tbe Iiank in sueh mannet +u tAe Baak ahall tequlre. 4. ln order to t?wre full proteet the ueurlt~ of thls mortSaKe an~ provlde for the pa~ment of ta:es. ~s+esstueab and lmurante premiuma upon t6e property eneumbe~ LercDy tde B~nk ma~ requln, url in that eveat tAe mortgasor a~rees to pay to ide Hank e~eh mo~rih at the tlme the p~~ments pw~idcd b~ sald rom~swrY note are due and 1n addlUm to sald p~ymmt~, a aum eq~ul to oao-t~velfth ot ~n emount estimeted b3 the B~u~ to be auslefent tor t~e Hank to p~y aald ts:es, asscssmeats md iawranee premiums RAlO t6e ssme are p~7~ble. I[ 1he ama~nts paid undcr lhfs p~nsrepL sha11 not De suffteltut to cruDle the Bauk to pay tald Lies, assessmtats and insunMe premlums, the mortBaaor sMll p~y t6e dlQerence to tAe BanY ou demand. . S. It the mort~or aLall ha~e wtgncd or duse to De assisncd to t6e Bank mw or hereatter an~ pollc: ot ltte lnsurenee u addltloaal aecuHt~ for ihe indebtedness ~eeured by t61s mortb~IC~, the morigaKor asrees so loa~ as an7 ot wld 1ndeDtednea~ remalas unpdd pmmpily to pay tll premfums on said iasunnee whea the asme beeome due end payeble, wd it tDe pme slull not be pald promptly the Baok ao~ pa7 1Le ume ; w~ithout walelns or aQeellns tbe op tion to fomlose or ~a~ tibbt Lerauider, ~nd e~ery payment to made shall bccame part ot I~e lndebtedaess ' xcured b~ tLta mort6~t~ ~nd aLal! bear intetrst from tLe date of payment t6ereot at ide rete pm~lded !n the pwmis~or~ note setured herrD~; ! and ecerJ payment w madq and interest lhereon, ahall be npaid by the mortsasor bo the Bank in meh manner u the Bank sLall require. 6. To rmit, eo+nmlt or suRer no ~rute, impairmcnt or deterionUon o[ xid properb, or an~ part thcrc+ot, and upon the failure ot the mortgegor~p Yeep tAe Dutldtngs on aald propert7 ln Rood eondlUoa d npair, ihe B~nY may demand the immedlate repatr of satd DuildlnK+, or an Incrcax In4de amoupt of seeuritT, or t6e immedfate repwTment oC 1Le debt derebi iea~red and the fdlure ot 16e mortaa~ to comply ~vith sald demand ot the Bani[ for a perlod ot t~irq (30) days, aha11 constltute a breach d thLs morlBab+~, and, at the optlon ot the Bank, Immedlatel~ msture the eadrc amount ot prlnclpal and faterest hcreb~ aeeured, and lmmedlatel~ and ~ril6out noUeq the Bank may inslitute proceediass to [ureclase thls mortsase and appl~ tor ffie appofntmeot ot a Reeet~er~ as herelnat'ter pro~lded. 7. 7b perform. eomply ~ith and ablde by eaeh and ever~ the sUpNaUons. a6reements. eonditions and cocenaats in safd pmmlasor~ note and this mortJlaRe deed set fatt6. 8. If any of tLe sums d monep herein retemd to be ~t prnmptl~ and fully paid ~ahm the s~me sevetally beeome due and payable, or 1f caeh and cvery tbe stipuLtioas, aRreements, eonditloas, and eovenanb of sttd promlssory note and thb moHg~Re, oe either, are not duly performcd ccunplied ~1th and abided b~, the agaregate sum menUooed fn eafd promis.w~7 aote. less any rebstea rcquired by law. shall beeome due an~ pn~•able forthw~ith or thercatter at the optloo of t6e Bant. ~eitbout nottoe, u fuUy and eompletely as 1f aald agsrepte sum of money was orisinally stipuLted to be pald on wcL day, anythiog ia aafd promisaory mte or Lerein to the oo~trar7 notwiWstending. 9. It is furtLer oorenantcd and ~sreed by safd pariies that in t6e eveat d• sult bein~ IasUtated to fotrelox this morbWSe. the Bank s1u11 be enUUer! to applr et any time pendlag sucd foreelosun sult to tbe oourt LavinK jurisdletloa tdereot !or ihe appolptmeat of ~ reeelver of all and singular the mortgeR~ p~'oMm', and ot all the reats. intomes, proets, is~ues and revenues thered. ~Y016 p~tfOCYti fO11~CG fIlrlVlKl• ~pd tI1lflU{fOII it i~ 6ercby expr~ssly eocenantcd and agreed that the caurt shsll forW~vith ~ppolnt e reeetver ot aafd mortgahtd prop~rb. a11 and aingular, and ot suc6 rents, incomei, pro8fs, issues and recenue thereot trom whataoever souree derlved, with tDe naual po~ers and duties of reeeivm in lite cases; and sueh sppointment shall be made by auch court as a matter ot strict rittht to the mort6aBc~ its snecesson. lesal r~ reseataUves or assigns, and ~cilhout reterenee to tLe adeqwey or inadequaey ot the ~alue d the pmpert7 herebT mortEa~ed, or !o Ihe solven~Y+or inwlrencT ot the mortKaEor. ana ttut weh nat, pro8ts. iueome, lswes ancl recenues shall be applled by sueL reeeiver to the p~yment o[ the mortpse Indebted- neis, eaats and edarses, aeeording to 1he order of weh eouri.., i ]0. It • conveyanee should be m~de b~ ihe mortRa6or ot ihe premises hereln deserlbed, or ~n7 part thereof. ~ithout ihe writt eonsen! of the Bank, ~nd without assumptlon in regular torm ot la~v by the grentee of t1u obll~aUon to the Bant ereated by sa[d pronds~ry oote and su this mortKasq then. and in that event, end at the optlon of t6e Ban~, and without noUee, ~11 sums ot mooe7 seeured hereby shsll lmmMteldy and concurrmtl~ ~viW sueh oonceyanee beeome due and payable and in default 71. 7Lat In iLe event the premixa Lereb~ mort8aged, or any part thereof, sLsll be oondemned r~d taken for publie nse or for uu by a publle utility under i6e pmcer ot eminent domaln, tLe Hank shall have the risht to demand that all damaqes awarded tor the tekl~ o[ or damages to said premtsw s6all be peld to the BanY up to tLe amvunt then unpatd on this mort6ase and at the opUon of the Bank ms~ be rpDlled upon thE P~S'ment or pa7~enh last payable thereon. ~2 It is speci6ea117 a~rced tLat tlme 1s d tbe essenee ot this ~ conlraN and thst no ~'afver ot an~ obUgatlon hereundcr or of the obU6ation secured Lereby aLall at an~ tlme be 6dd to be a~rdver of ihe terms Lereot or of the Instrumeat seeured herebp. ]3 I[ toreelosun proeeedinss of an~ teeond mort6ase oe aa7 iunlor lien of any klnd should be tnsUtattd, ae ff P~1n6s under the Bankrupt¢y I lawa ot the United States, ineludins reorsanizaUon proeeedl~ under Qupter 7CI d the Federal Bankrupte~ Act, or ReeelversWp ~roceed~nBs of any klod in any Stite or Federal Court should be i~sUtated by or asatnst the mortaaa,or or any o[ !b srantees. then hddlns UUe to t6e mortgsaed i propertp. ihe Ban~ ma~, at ib opUon witboat notfee, immediatelT or thereafter deelare this mortBaae and ffie indebtedness seeured Lereby due and t payable foHh~vlth. and maT at ib opt~on proceed to foreeloae thia mortsaae. ! 1~. To the e:tent ot tbe indebtednas ~ ihe moet~asor to t6e Bank daeribed Lenln or seaired hereby ihe Baoh is hveDy snbro6tited to the Um or liens snd to ihe rt1[hb of the ow~nen and holden thercot of eaeh and e~e y mor~~aBe lien or dher lncumbraoee on tLe Lnd dexribed heretn E wh1c6 1s pafd or ~atlsAed in whde or !n pari oat of the p~oeeeds of the loan dexrfbed herein or sewred hereby. and t6e respeeUve liena of said mortgasea, liens oi other inenmbnooa, sb~il be and the same and eae6 ot t6em hereby is praeraed and shall pass to aad be held by t6e Bank s hrrein as scrnrltp for tLe fndebtednen to ihe Bant herein desedbed or be~eb~ seeured, to tDe same eztent that it ~voald Lave been presened and ~rwld ~ ha~e been pa~sed to and been Ldd b i6e B~nk Lad It been dulY ~ regqlarl~ assi~ed. transierred, aet over ~ad delt~ered unto t6e Ban1~ b~ sepnrate deed ot assi~nm ent, notwi~standin~ t6e faet that the sw~e m~3+ be ~UsBed and eaneelled of retord. 1t be[oK ihe Intentloa ot the psrUes hereto that all prtor intumbnnees will be s~tis/fed a~ unoelled ot teeord b~ the holden thered at or about iLe tlme of tLe reeordin6 of thia mortgase, bat th~t the H~nk wlll nevtrthdeas be snbmRated to t6e llens thereot as 6eretn above provlded. a ~ ]5. To pa7 ~U and sin~u~ar the ewts, eLuRes and e:penses. lneludlns I~w~er's~ lees. reasonably lneure+ed or pdd at ~n~ time by the Ban1y ~ because ot ibe fallurc ot the mortEasor to peiiorm. oompl~ wlth and abide by eaeh and everr the sdpulaUons, a~eements, eonditlons and coveo- ~ ants ot said promiswr7 note and this uwrtsase or eftLer. tod rrer7 meh p~~ment ~6a11 bear interest from date at the rate born by the principal ~ indebtedness secured lxreb7. 16. It 1s a~reed that this mort~6~ siuil seeure aq fnture ad~anees m~de Dy the HanY to t6e mortgaipor at au~ tlme ~vithin ten (10) pcan from the d~te Lereot to the same lfctent as if soeh futnre ~dw~es were made on tAe date ot ihs eieeuHon d thls mortsaBe• pmvlded, Lo~ever, that the toLl nnp~ id bahnee of the indebtedneas seeured b t61s mort~Re at an~ ooe t~me shall not e:ceed a ma:imum prlaeip~l ~mount equd to 150 pcr ant of lhe prlneipal amount or161naU~ seeured ~reb~, plus lnterest on weh ma:imum prindprl amomt and an~ disbursemcnb made for ti~e pa~mrnt of ta~ca. levles or lnsurmce on the propetl7 oo~ered b7 ~~s mort(~Ee. ~?1tb interest ou saeh dlsbursements. 17. ~ti'hen ~ny amonnt ot mone~ to be patd b~ the )[ortsagor to the D[ort6aaee nnder the terms Lereo[ sLall be in detault, or should the 2(ort- Fcagor detsnlt in anr d ihe other terms. Dro~lsloos or eondilions o[ thls Yorfaase, then and 1n t6at ase. the Yorib~6~ shall have the risht. ait6out nWlee to tt~e Yortga~or, to edleet and reeef~e fram an7 tenant or laaee of said mortsaged premius the rmb, lssues and pro8ts ot ihe real esLte Lercby mortgaaed and the lmpro~emmb Wereot. and to sl~e peoper mdpts ~nd aequlifanus tLerefor. and aRcr paytnK ril tommis- ~ sions of aa~ rental asent oolleetlna We aamr, and W reasonable attoroe~"s fees ~nd other neeeuary e:penses lncurred In ooUeeting ume, to app1~ ~ ~ thts~«~ ~~ch oolleeUons upon any Indebtedneas ob116~Uon or llabfllfy, of the liortgagor Lercunder. T6e rlbLi 1~nted the Mortftasor under ~ para~npd shall be 1n addltlon to, and sLsil not ~Imlt os restriet, an~ o16er rlght or rlghb ~anted the Nortaa~ee !n thls NortHaB~• 3 ~ ~ ; _ ~ _ ~ A w ~ ~ ~ ~ .~~:~~~+t~~:U~~~ ~ L~t n'I7NFSS WliFREOF. the said Llortsasor Lerennto sets Lis lund a~ setl tLts 1Le da7 tirat e wrltten. ~~~~ir ! ~ HOLIDAY II~,~~.~•R~~ 'ZNC - ~ = ~ • a r,, r. St ed, scaled and deliver !n ihe prese e of By~ e~ - ~ e ~ ~ ~n~ Q~B~p.:~, _ ~ - ~ Attest z - - - - " ' -c ~ ~ ,/,I/ n retary ~ ~ _~Q~.,. l~~v _ ~ ---~--R ~ j~ ' 3l~~ . 800K ~ 171 PA~ 1~ ~ ~ ~ . ~ ~ r7 ~3._, . , _ _ _ _ - 4 _ ~ ~ :