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HomeMy WebLinkAbout0361 ~ . ~ • ~ t 1 1. !o peY all cmd daqul~ 1b~ p~inctpal amd iat~rest ~d otbar svms of mo~T PaTab1~ bY ~Ciu~ ot ~i~d pcomiro~ aoN_ amd tbis d~ed. o~ ~ith:r. p~owpUt o~ tb~ daps r~spocti~sly t6a ~t b~oom~ dua. Z io pa~ dl aad aiaqulmr ths tax~. ar~wsmaita. lrria~. ~tabilitia~ obl~gatiotu. ~d incwon- be~tw of ~mt aatur~ on ~add dwcrib~d P~'oPat'Y. ~acc6 amd ~sy. mnd it tL~ swn~ bo not P~'o~T pmd th. ~aid Mcstqaga~.. th,ei~__h.i~s. l~qd r~pcw.a~att..s c~ a~sdgas. maY at anT bm. p~r th~ sam~ ~vithout wm~aq ot a~ctinq th~ ~option to ior~clos~ or aaY sight horeuade:, aad ovory paymoat so mada s6all b~aa iatu~st firoa~ t1u dat~ tbu~o! at tbs rat~ o~ ~ p~s oant. p~r anaum. 3. Zo paY cdt and siagul~ th~ oosts. ch~qas and ~xp~nsN. including lawyo~s f~, s~aso~ablt incurred a~ padd at aaT tjm~ bT smd MortqQgNB., their Leal s~p~~atati~N_ or a~dgas. b~cause of t~ tailur~ an th~ p~at - of t~ ~add Mcistgccgos. 31s wccasoz~. 1aga1 r~pc~a~a4ns a~ mdgas, to pedosm. oomplT witb aad abide by ~ach ~d ~nrt th~ stipulatious~. a~b, co~ . ditions ~d co~~namb of sadd p~omissory note_ aad this dNd, os eithss, ~d eeery such paym~nt s6a11 boar int~est lram dat~ at th~ rats ef 6 p~s o~at. p~s ~num. ~ ~ 4. Zo la~p ths buildiags aow os bar~aR~s oa ~id ~d ~ur~d fa a sua? aot_ l~ss ~ ~tta.,._ in a compaaY or compcmi~s to be ap- proved bT saod Mo:tqagee~. aad ths Polict or polici~s L~ld bT aad payabl~ to aaid Mo~tqagN~. the i r ~g~ s~gres~atabt~as or as~ign~. ~d ia th~ nent aaT suad of mo~~y bs~om~s payabb smd~r snch poli~y c~ pclk~s..tlw Modqaq~. their k~is~. bgd ~ns ot aasigas, a~aII ha~e tb~ optioa to sec~i~e m~d applT oa acvouat of t1» 3nd~bteda~ss h~r bT s~cured o~ to p~rmit th~ Mo=tqagos to r~i~s ~d us~ it o~ amt pmrt tberoo~ fo~ other p~poMS. wifhont th~~~bY wmviaq oz impairing cmY ~quitY. li~ os :tght uada o~ bY ~i:tu~ c~ dds nio:t- gag~, amd map pZaee cmd pat tor such iasuramcr or a~ part t~rsof wlthont Am~iaq or at6~cti~q tL~ optiaa ~o ~o~cl~os~ c~ ~y sigbt h~~und~s. msd ~acL aad r~ auh paYa~t ~haD b~aa iataMt fsom dat~ at th~ :ats of - b.r c~at. pu a~num. . 5. ?o pezmi6 co~nmit os snif~ ao wast~, impairm~t o: dot~rio~atioa of said P~P~~7t ar ~Y pmct th~roL. 6. Zo p~cfo~m. oomplT witL, amd abid~ bY oach aad s~ t~ stipulatio~. agrNmeab. ooon- ditioos ~d co~~b ia said p~omi~ast note_... aad ia tbis da~d a~t fostL. 7. I~ cmt of said sucas a~ mo~y h~in r~ferred to b~ aot p~ompttT ~~Y P~ witl~ia ~ ~ ~ dats ns~d aft~r the ~s srsrallT b~oome dus amd payabla, os if each ~d e~e:y tL~- ! . ~ dipulatioas, agreemsnts, coa~ditions amd coveacmts of xad proinis~ory aote_ aad ffiis deed, oz ~ rithe:, ar~ aot iuIIY Pario~m«1. ooo~phed with aad abidod bT. tl~ smd aqgz~gato suat mentioa~d ~ ia sand p~cmi~sory aot~ sbaII b~coa~ dw amdpayabl~ fortbwith or thereaftes at tbs option o~ ~ the Mortqagew~. their t,~, ~gal rrp~tati~~s or assie~, as ~lly ~d eompletelY os if ~ ~ ~ of EIGHTY NINE THOUSAND ($89,000.00) - . a:iginaIIg s#~dat~d to b~ pmd oa such daY, cmythiag ia said p~omisaosy aote_ os h~reia to t~a co~ootT~ ~tt~?I~1~41~dm9- . ~ ' : ; • - _ = ~ t J~~' . ~ ~ ° . Q~ ~Fi ~16 ~Ql~ p~Y ~ 1}lA ~t p~t ~ OQZ1Nd ~ ~ 1 Q•~'• _ C'1 J;•~~ e.~:~'; . ~[Oi~~ t0 ~ il~Yt~ ]a 1f8 IIamA ~ i1a . 'f' ~ ~j ' ~V , ' f i ~ ~i ~~OlQ~ ~~AIIti i~d lb COIpOiQtA i~Ql ~ bA Q~XA~ a;~ 4 a' i'.t~1) attest~d bY ifa 3~~t~Y th~ daT . , ~ i'` ; _ ' Q• ~ ~ ~d T~QL Q~~A NriUpi. t • ; , ~ ~ • • • ~ ~ . SO - .S~1~p~ _ . -1/.~~ 1 L'~~., ' . ~ ~ ~ ~ GENERAL - DEVELOPMENT CO ORATION t_. _ _ • . _ _ BT ~ • ~ ~ Pnsid~at. . 8001( PACE ~ rx , ~ r ~ ; , - ~ ~ .~rx i ~.~:r. ~ ~ . ~ ~ ~ ~ ; _ ~ ~ ,z ~e~ ~~,~;`r-,~`- _ . '..~~;r::~ . _