HomeMy WebLinkAbout0724 aad s6a11 Pa7 all othar aun~ proridod w be paid b~ tleia Mortp~er aad ~hall per[orm. oaopl~ wit6 and abids bp each and
e~er~ the ~tiPnlatioas. a~eemcnts. oonditioos wd oo~enanes oi ~aid p~ note and of ~!w deed. t6ea thia deed and the
eatate ~ereb~ erated sbaU oere aad be nnll wd vdd.
AND THE MOli1'GAGOR doa 6eceb~ furthec oorenant and a~ree as Eo[b~n:
7. To pa~ all aad aiojular t6e priacip~l and iaterat aad other waos af moaef WT+bb b7 nLLtue af aaid p~om;~wr~ noce
aad th~ mortaa~e, a: eitbet, Promptl~r at tbe dap re~pxtird~ the ~ame ~e+erslls ooms doe.
2 To paT a!! and siatulu ta:u. aesaemeats, 1c~idr, liab~litie~„ obUptions and encnmb~ranas of ar~t~ natare on aid
P~7. ~ach and erer~. within tbe time spcciiied in Panaraph 6 bdoM. md it t6e ams ~haU aot bs P~D~! P~.
the Mort~ee ma7. at an~ time eithat betore or dur deli~uNeUCf. W7 t6e same rrithout wai~ias or d[ectins t6e optioa w fore-
cloee. or an~ riaht he~rundet ~nd a~ety pa~meat so made a6all beu iatereit tnat t6s d~te tbereof u t6e rate ot 10 peraat
par annnm.
3. To kcep the buildinp now or 6eraafter oa nid laed aad the fi~ures and Persooal ProDert7 thaein oontained inaued.
in a oompan7 or oomPo?ia appro~ed bp t6e mort6a6ee, asaiast las b~ f[ro and ~rindstorm. foe tbe hisLa~t ia~arable ~alue a
that the mortgaaeea iatereet b aot svbject to co-iawnnoe, and tbe polic~ or policie~ dull be beld b~ aad be pa~able to wid
mortaa6ee. ~nd t6e mo~taaaee ~6aU ha~e tbe optioa to reoeihe aad sPP~7 ~ W?Tmmt on aeoonnt of t6e iadebtedneas ~eeeb~
secured. or Permu the mort~6or b reoei~re or nse it. or an7 Put tbereof. far aa7 P~~P~ ~~7 ~ni~ o~ t im-
P~~rio~ tbe eqaiq. lieo as siaht nader and b~ virtue oi this mo~a~e and ma~ pl~ce ~ad pa~ ior anl 1~
t6ereoE wit6oat wai~ins ar affectina tLe option to foreclae or an~ ria6t hereunder, and ac6 sach parment ahall bear inten~t from
date at the rate of 10 ~t per aanom. .
4. To Pa~6 ~ommit. or wffer no wnte, impairmeat, abwdonmeat, or d~terioration of ~id propect~. ur an~ part there-
oi. and opon tbe iW~ere of tbe Mor~aaor to keep ehe bnildinss and Penon~l P~7 P~f ~ s~ oondition ar ra
P~r. the Mo~,aee ma~ demaad the immediace npair of said propercf, or an inenase in the amonnt of secnrit~. ar t6e im-
mediate npa7ment oi t6e debt bereb7 secared~ and t6e failar~e oE the Mortsa~or to onm~ witl~ ~aW demand af tbe Mort~ee
- for a period of IS daJs, i6all ooostitnte a breacL of thi~ Moztg~e. and at tbe option oi the Mortsaaee. immediatcl~ matnn
tha eatire amioant ot principd and inteecst hec+cb7 ~ecared. aod the Monaaaee, immediatel~ aad wit6oat notioe? mq inetitau
P~+ooeedin~s to toreclox thi~; Mortsaae and appy for t6e appointmeat o~f a Iteceirer. as 6eninafter pro~ided.
5. To perf«m. oompt~ rith and abide b~ eacb and e~a~ the uiPnLtion~ +~menb. oonditia~, and oo~casnts in iaid
P~~*1 note and decd ~et forth.
6. To deli~er to the M~ee, on or be[oca Febtnar~ 1 of each ~ear. tu reaipts e~idmcioa t6e pa~meat of all lawfnll~
impaed tues npan the on~d Prope~t~ fo: t6e P~ ~d+r Tear: to deli~er to tLe Mortaaaee reoeipts evidenc~ns t6a ~
P~l'm~ of all ti~os tor public improremen~s within Nineti (90) dqs aher tbe s~me abaU beoome dne and Pa7abb, md to p~y ~
or diechae~e withni N~r (90) da~s a{ker dae date. an7 and d1 ~t+1 k+iea tMt mq be made on tbe moet~ed
Prope~r. ae tLis Mortsase ~ note or ia ~e~ other' war rdiulti~ frues tLe' mort~e ` indebted~ ~ecmred bf t~ Ma~t~s,e,
T. To pq.. ap, and sio~alar tLs, owt~. oLa~. +od ,e~. incladi~ Lw~da fees. ns~ooaW! incar~ oc paid at aa7 :
teae bf tbe llLortg6e4 bec~a~e ~f tbe fiilors of tLs l[at~~r to P~~, ~17_ wit6 a~d abide b~ ad~ and ara~~ ttis stipu- i
]atiow? +~'emsmtr. co~ms a~d oa+~eea~s oE. aid prosiroe~ wq an~ t6is deed. ~e:eitLsr. a~d,vrm~ wch PaTpeat aLdl
bar iotaa~t fc+a~ drte at tis rate.d 10~P~~ P~' '
Tb~t if .ap} a~tie+~.:or .Ps'eo~diob dWl. ba aoiae~oed Ly asp pe~soa othei ~tL~a, ~be Dolda af iLis. (e:oePt
an accion` to f~+P~']we t6is mo:t~ or to oollect thc debt sxured't~erebr) to whieb ~ctioa. or peooeedina, ~ bf t6fs
~ i~ inuls a.part~. oc i~ :~Lich it ~ball becomrs ,~oes~~ w~ deknd. o; up~dd, tbe liea of t6is svortpae. sil ~s
pud b~ the hoMet of this ~noa~a~e for t6e ~pm.e ot +u~~ litisation to prusecaoe, vr ddead c6e rl~Lts and 1&a~ cr~eateti b~
('n d st
thia moat~are (~ncladin~ s,aNOOable ooa~1 fees). ahaU be paid l~'the Id . toQthai, 7~rith iwta~st t~es~,+oo, a.tbe rue of
10 penomt pex-aminm, and an~ w~ sam, snd the inceree~e thenon. aball be a c n npon a~i~ pnbi~ea, and ~hall lie &ewed to
_ be sanred bl thts moctjsae. T6e snms ~aid b7 or incarred bT tLe hoider Lacreof in ac~ea~d~aoe. whb tbe tams af this par~„~raPh.
sbdl be Paid b7 t6e MAitaa~'or, nnw tbe boldec heteof ~.itlia t}nrnr t30) .d~prs, snd tLe fa~pre or ami~eiwn of tbe Ma:t~or to do ~
~ mtide t1~e l[at~~os to add aocL wqos. m tbs priq~ip~1 iodabtedoe~ aE tbis ~ortp~e aod t~e.ao~s ic seeera, aad/or u~s
option dasLrs dds_ma~t~p~~e.n~ tw nate ~~pc~ a be.in defiolt, s~ec~apoa aaqui~ aII o~ tbv ~d indebtedopa inchdiea ~
the w~os +~noed Lenamda.
9. Thett no e:teation of the time or modif"~cation of tLe terns o# pa~mmc hereiaabo+~ and no relene o# an1 P~ ~ Pi*~+
oi the mo~rt~a6ed Premixs. e~ea tbouah made withoat the aoment of the Mortgaanr ~hSll rekve. relie~e. or diacbarae the
Mor~ga~?r from t6e p¦immc of anr oE ehe a~ms henb~ sea~+ed b~ ia sach ewnt t6e Moit~or ~all aerritLeiees be liable to
Pa7 wch a~s aocordins to tbe cerms of sach e:teasion or ~odificatioas nnlas ~eall~ released and di~ebar~ed in writins ;
br the Mortaa6ee; and fnct6esmore. that i?oaptanoe of part pqmmt of an7? in~tallmmt of prinGip~l or iataest, or botb, or of `
parc rerfo~uaoe of ant oorcoanc or dd.r. for aa~ paiod of ~ime in ezd~a t6e option tn matare the eatue debt, a6all aot
opente as a wairer of the ria6t to eiearte end? option or act m wcL deiwlt, P~~ ~a ~~7 ~t dei~nl~ '
10. ~ITntil defanlt in the perfozmuoe o[ t6e corenants aad a~Cmeats of this Mat~e, tbe Mo~or ~all be mtitled
to
oollect the rents, iswes. and pmfits from t6e prani~es hereinbefore described. bat in case of a ddanh in an~ o# the terms of
this Morta~e, ac the filina of a bill to fot~eclose tLis or an~ other mortpse mea~mberins the within dncribed propert~, the 1
Mortgaaee ahall immediatel~ and withont notioe be entitled. as a m~uer of riaht, and withoat resard to the value of the premisa, ~
or sol~enc~ or insolreaq of tLe parties. w t6e appoi~ttment of a Reoei~er of tLe mo~t~ed ps+upert~. bot6 na1 and personal. and ~
of the nuts. issues aad pmfits thercof. ~?it6 the umd powei of Reai~ers in snc6 c+sm. and weh Reoeiter mar be continned
m poexesion of t6e eaid p~opat~ nntil t6e time ot the s~le thercof. nnder wcb forecl~ +and nntl tLe oonf'umation oi sn~h
sale b~ tLe Court.
11. If fvreclasnzt proceedin6s elwnld be iwtitnted on an~ mortgage infuiar to thie mort6a6e or if an~ foreclasu~e pr~o- ~
oeedia6 is institated on a8~ liea of w~ 1tind, tbe mortgaaee mq at its option immediatel~ ae t6ee~eafter declare thia mu*t8aae <
and the iudeMedness secared here~, dne and payabla If t6ere is an7 mort6+~e mPe~'iar W this mort~e. tLen Lilnre to par ~
ssid mo~taa~e whea due aod in aooord~noe with its tcims or failnre to abide b~ the taavr oL eaid ma~taaae de~Il be der~d a
breach of this mort~e and tbe moit~ee at its option ma~ immed~td~ or thaaftet declare this
6creb~ sa~red dae and pa~abla A~ modification of an~ mort;age snperior w tLis m mO~° and the indebtodnas
pa7meaa on an~ noce ar mo~taa~e snperior w tLis ~6~6a or wai.a of a~ principal or incereec
aortatae t~ll be desmed : bnsrh of t~ ternas aad oovmants of ehis mort~ages
and tbe mo~a~ee hereof ms~ a its optioa declare this mortp~e and the indebtednees aecored Laeb~ dne and paTabk.
12 T6at ehe mailina of a written aotioe of dem~ad, addressed to tbe owner oi reoord of tbe v. `
w tbe s~id ownef u tLe la~t addre~s actadl~r tarei~ed to tht Mataaa6ee, or directed te tbe sad ow~net, ~u
Wa~~ directed
m~, aad malat b7 t6e United Statea maiie. shait be sufCcimt not;oe aad demaed ia pr~
~qa~~ed b7 ihe Pro*isioma ba~eof ar b~ Lr. su7 aue arLia~ nniki this imtrumeat~;pd
23. That in the e+rat the Mortaag+or ihonld atsiaa tLe reats of tLe mort~ed premisa or aa~ pan tLertof ~rithatt t6e
con~mt d the Mort~iee. t6~a t6e mtice P*L~c1Pd wm ~ecared hereb~ ~ha11. at t6e.optioa oi tLe Mait~ee, become ImmediatE-
ly dne and paTabla~ • • ~ ,
s~ 14~. : To t4e e:tene ot ths indebted~a~ ~E the No~tp~or to tha Yataaaee daeribed 6enm er ~eeared ~erch'!. tbe Mo~tsasee
i+ 6ereb'1 sabe~at~d w t6e liea oc li~qs ~uad W ehQ ri~6ta of tbe onaas .aad bddess tbereof of ad~ and ereq mortaage, liea or ~
ot}ur ta~mbz`~aoe~Q"s tLe l~ad ddcr~ed Laain wLicL.fs Dsid qd/~ atidied. in wLoie or in put, oat ol.ths prooeed~ of t6e Io~p '
dacr~ed l~cw oi ~ Iiae6~, +n~ tLa re~ecti~e liem oC ~aid mwt~,a~a, liem or ot6a eocam6ranoes, ab~li b~ and tLe saure
aad,eacL qf tl~aa ]ioresrt pre~red aod aLall paM to aad bs beld b~ tbs Mors~ee Lerai~ ~4.~7 k~_~t iade4ce_~nas eo tLe
Moctsaaee ba~eis`de~ibd! or lere~b~ iee~e~ed~ to tLe a~me`r~teat t~at.h rroald 1~a~e~bem'Pnse~ned abd woald ha~e bees paaed te .
~nd bae iid~ by tbe I[~rtaa~e ~ad Pt beea dai~ and regalarl7 aari~ned. tra~Eerred, set mer and deli.aed mw t~e Mortsa~ee b~
~:para:e deed d assi~nmeat notwithuand'ma tbe !~x t6at t6e iame ma~ be tatiaGed and canodled of reoord, ic beins ehe inuntion
of t6e puties berao t6at t6e same will be satisH~d .of r~s4rd; bq tLe holdas t6ereof at or aboat tLe time of tha
rxordina of tbis Horc~ : ~ ~ ~
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