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8. Until default iu the pa~focmanoe af the coveaanb and agreeineats of this mortgage, the moitgsgors ahall be eatitled
to collect the reats~ is~ies andpcoHta from the premims }?~reiayeforo described, but in c~se of a default in any of the tera~ of
this mortgage, and t6e Hlia of a biti to foreciose th~a oc a~ny other moctgage encurabering tbe wIthiu desixibbd P~'aP~Y. ~
~soociation ahall imn~cdiate and without notioe be entitled to the appointment of a Recetver of tha ~mortgagedp~o~erty, and
of the rcnb~ issues and pro ib tbereof, witb the usualpo
wer of Receive:s in such case~, and such Receiv~ raay be-ooatinued
~n poa~csion of the said pmperty ~mtil the tim~ of the sak then.wf uader such foreclos~u~e, and' ~til the confirmation of such
~.11e by the Cotut.
9. If a oot~veyanee should be awde by the moctgaga~s of the premises herein descsibed, or anyp~t thereof, wit}wut
the writttn consent of the Associatlon, and without assumptioa in regular fonn of law by the grentee of tTie obligations to the
.~ssociation created by said pmmisaory note sud this mutgage, then, and in :hat event, and at the option of the Association,
:~nd .vithout notice all sums of mcx~e,y secared hereby shall iYnmediately and ooncurrentty with such crnveyance beoome due and
PaYable and in d~sul~ The Associatia~ may deal wltL rxxassors in interest with referencr to this mactgage and tl~e debt hercby
serured ir? ihe aa~ne manner as with the mortgagors, and may forbear to sue or may extead tune for gayment of the debt, secvrecl
hereby, or otherwise act without dis~hacging or in any way affecting the liability of the mortgagors hereundes ~ upon the debt
hereby sec+u~ed. The Associatton may also deal with the Mo~igagors aad/or with suocessors in interest with rafe.r~ce to this
mortgage anci the debt hereby secured by forbearing to sue, estending the time for payment of tbe debt, pmvid'aig for diEfertnt
montlilY PaYments ead/or a differeat interest rate~ and by otber e:press modiRcations of the contract, without losing any priorit,r•
the Assocfatlon has over other ano:tgagees or lienors ~ hotdeis of any junior interests in the propedy secured bereby.
10. That in the event the premises hereby g~d, or any part thereo~f, slwll be oondemned and taken forpu
blic use
under the power of eminent domain, the Ass~~ciatioa~have the right to demand that all damages awarded fo~r the taking of or
damages to said ~nises shall be paid to tt~e Assoc'sation, ita snccessors or assigas, up to the amount unpaid a? this nw~tgage and
may be applied upon t6e payment or payments ]ast payabk thereon.
11. It is specifically agrecd that time is the ~ of this cantract and that no waiver of any obligatioa hereunder or of
the obligatioa secured heceby shall at any time thereafier bc hcld to be a waiver of the tenns or of the instrument see+u~ed hereby.
1S. If foreclosur+e proceedings of any second mortgage oar seoond trust deed or any junior lien of any kiad aho~ild be insti-
tuted, t~ Association may at its option, unmediately or th~?Qer declare this m~rtgage and the indebtedness secwt+ed hes+eby due
and ~yable. • -
13. To the extent of the indebtedness of the Modgagora to the Associatio~n des~s~"bed I~crein or secured hereby, the ,~?sso.
~,at~«~ it hereby subrogacea M the lien or liens ana to the rights of the owners aad holders thereo£ of each and every
lien or other eneumbrance on the land deseribed herein wh[eh ic paid and(or) saticHed, in whole or in ~md, out of the~prooee~ds~
of the loan described herein or securecl hereby, and the respectjve liens of said moztgages, hens or other e~cnmb~, s
ah
II
to ~nd be held by the Association herein as for the indebtedness to tbe Association herein described or hereeby ~
o
the same ex±ent that it would have been p~~~ and ~vould bave been passed to and bcen hel
d b
y the Assoe~ation bad it beea
d u ly an d r
e
g
u
lar
ly assign
e d, tr
a
n s
f
e
r r
e d, set over and delivered unto the Association by separate d
e e d of assignmeat, natwithttand-
ing the fact that the same may be satisfied and cancellai of record, it being the inte~tian of the parties hereto that the same will
be satisfied and cancelled of reoord by the holders t6ei+eoE at or about the time of the neoording of this mortgage.
I4. To pay ari and singular the costs, charges, and eucpenses induding lawyer's fecc, re,asonably ineinted ar paid at any
time by the Association, because of the failure of the 1liartgagors to perform, comply with and abide by each and every slipula-
tions, agreements, conditions and rnvenants of said promissory note and this deed, or either, and e.wery such payment shall bear
interest from date at the rate stated in the note secuced hereby.
15. Tbat he will~erm~t, commit, or suffer no waste, impairment, or deterioration of said pruperty or any part thereof;
and in the event of the af i~are of the Mortgagors to keep the buildings on saidprem and those to be erected on sa;d prem;ses,
or impmveme.mts thereon in good repair, t~~e Association ma,y make and pay orf such as in its disc~etion it may deem
nec~e.ssary for the proper preservation thereof, aad the fall amount of such pa,vments shall~secured by the lien of this mortgage
and shali at the option of the Association be immediately due and payable, or payable in such monthly inscallmeuts as the Assoaa_
tion may determine, and every such payinent shall bear inte~+est from date at the rate stated in the aote securecl hereby,
18. That if the Association and the r~ortgagors agrce, the Mortgagors will carry a poliey or policies of insurunce upon
their lives in an a~eunt equal from time to time to the amount of indebtedness hereby secured, malcing said Association benefi-
ciary thereunder, and that the said Association may pay the premiums for such insurance (ia the event the Mortgagors do noi),
and add each such payment Lo the nnpaid balanc8 of the loan, as of the first day of the then current maath, and it shall become
additional u?debtedness secured by t6~,s mortgage payable upon demand.
17. That in the event that this mortgage be given to secure a construction loan, falure on the pazt of the Mortgagors or
their contractors to complete said building in acc~rrdanoe with Construction Loan Ageement, af even date 5~erewith, or to build
said construction in aocordance with p)ans aad speci~ications filed with the Association, shap constitute a breach of this mortgage,
and, at the option of thE As.sociation, immediately mature the entire amo~mt of principal and interest hereby secured and the Asso-
ciation may immediately institute proceedings to foreclose this mortgage.
18. That the abstract or abstr~acts of tide covering the mortgaged pmperty shall at all times, during the Iife of this mort-
gage, remain in the possession of the Association and in the event of the foreclosvre of this mortgage or other t:ansfer of tide to
the mortgaged property in ert~guishment of itie indebtedness secured hereby, all right, tide, and interest of the Mortgagors in
and m any such abstracts of title shall pass fio the purchaser or grantee.
19. The Association shaII have the right, in its discretion, to require that the Mortgagors gay into the A.~.cociation in addi-
tion to the monthly installments of principai and interest to be paid by the Mortgagors under the note seccu+ed by this mortgage,
an amount equal•to one~-twelfth of the annual installments of any taxes on the mortgaged premises levied or assessed by any
govemmental authority, and one-twelfth of the annual premiums for Fire and Extended Coverage insurance on the mortgaged
premises as hereinbefore required by the Association, and the Mortgagors' failure to make such payments shatl constitate a default
under this mortgage. •
IN WITNESS ~iiHEREOF, the said Mortgagors hereunto set their hand~ and seals the day and year first above written.
Signed, sealed and delivered in the pr~sence of:
, - -
l~L ~s~ ~ E
- - - - • ----~o•~ ~Zr.~-- ` ~ 1 l - e )
~.-"``-.'~.Z'~.~L4_- - S L
~%,n Peter Bartkow ~
~ f~
- - - - J_
~?-CZ-- - Q ----(S~)
Mary rtkow
- -
- - - SEAI.)
- - - ~S~)
- -
- - - -
cw~r~ss~s) - - -
(MORTGAGORS)
eooK 174 PAGE 2731,