HomeMy WebLinkAbout1185 the de8ci~~?. 5ttchp~r n~ent ~hali be n~ade writhia thirt~ (30) dt,ys Jter writtea autios [roa the Hoct;a~ee
statinR ~be u~aunt o( the d~6cie~r~ whicb nptioe ~y be.~p~~a b~ miW. It ~t an~y ti~w tbe ~?iortp~
sh~~l t~eadK to the NortKa~ in ~d~t+d~noe ~i~h~lr pe~ovu~otr o~ tt~e ~wte aecured i~erebj, iWl pa~a~es~
ot ths entitie indabte~dae~s rep~+e~nted thrreby. tl~e Mort~~es ~ tcustes ~haU, in eomputa~ the ~cnoun~ ot
wch indebtedneM. cndi~ to the ~coount ot tbe M ~ay credit bal~noe reanainu'~ uader the pe~ovi~ioas
o[ (a) ot aid~~!~r~raPh Z. It the~+e shali be a detau t unde~ aay of tLe provi~ions ot tbii a~ortg~ge e+esult~in6 -
in a public ~s a tt~e premises oovered hereby. oc i[ t6e ~iortg aoqwe+es the propecty othen?ise dtec
detsult, the Moetgsg~ee u trustee shalt appl~, ~t the time ot fit e~eommenoeme~t ot sc~ch prooeedings oe at
che time the P~'oP~7 is otbenvise ~cquired, ths amoun~ then remainiag to credi~ oi ~iortgagot uader ot
pan~nph Z preoedu~ as ~ credit oa the iRter+ast aocured sad unpaid and the balanoe t~o We priacipal then
ramswng nupaid on aid rw~ta
4. Hs wl~ pqr a/ ta~ waae ntie~ a~d o~ ZoTeeameetal ~ sunidp~l ~e6as~er. ~ ae
~
aod
~aL 6s wW
p~ de~i~ aioi~t ~theeet~to ~ t~~as„ ~ Yatp~es °rU? py t~ ;
;
b~ AA wl~ peemi~, aoam~il, a~ w~ee ao wa~ey i~ieme~ ar det~eeioestba at ~~id pi+opeet~ ae an~ p~et t6eieat, f
emeept rerooabls w~e and t~r ~d ia fb~ ~~eaR at ths ~ at !hs M to loeep t6~ buildinp ca ~id i
f t
premi~er a~d ~o~s to bs eieat~e~ aa Nid piu+aoi~e~, a~ ~ope~orea~eah tLee~eoa. ~ood repair the Mat~~es my? !
m~e w~eh repair a~ is its di~oret3oa it myr deem aeee~ey fa~ t6e_~~pee pea~rvatioa tl~eo~, aod tLs fult amonnt :
ai eioD asd ev~ee~r w~o6 pyrmeat ~D b~ du~e aad pyabis f~ie1~7 (ao) dys aft~ de~cad. aed ~U bs ~eeured 6~
tLs lies af ibi~ moetp~a. , '
6. Ha wtll pN? all aod io~~ar t6e-~s~t~, ~ sil¢ aa~Pe~. ~i rwoa~bb L?wree's fees, aad oo~b °
at ab~traot~ at tilk~ ~ed a p~id at a~ Maetp~es beew~s cf t6e failurs aa t6e part at tbs M ~
~ ~ ~ ~ ~1 be~y~` ~ad pr~rabis a'd ~
~ewe~ed by t6e~lie,a af ~St
' aoo~tp~e. :
eo~s, ~ ~b i
7. Hs w~l aontinuou~? ~psiqt~in b1?s~:d i~ewrinesr ct a~ch t7Ps os and amounts ~s Mortgages m~~
ew
fi+om tima to time requie+s, on tLs impe~o~easeoti~o~t.dt ~ei+eattee oa ' ~+~m~ses~ and eseep~ wLen p~~nneat
tor a11 such pre~inms hr ~e~+etotors been mads nndee (a ot paragesFh Z heneof La wiU py promp wLea ,
dus an~ prsmiums tLerd~. All inwranos ~hall be ~ia ooaonpanties sppro~e~ b~ I~i aad~ poli-
cies aad renewals t,Lereot ~6alt bs beld b~ bloctgag~es and ba~e att~ched tbee+eto ~P,~7abbZa~ in ia~or ot
and ia torm aaospwbls to tLs ld Iu e~eot at loe~ hs w~ll g~?~e immeduts taoe ~ mW t,o Mostgagee,
aa~d M my maloe p:+oot~~ ii noti m~ds pe~oespt~ b~ ~doetg~o~ri aad ac6 ins~rraos eompaq~
- oon~oern~edQ~ autboeued ~ad die+eated to maios pwmenti i~weL laa_~~ to b~ast~g~es_inst~ ot
to Mortg~g~or aad ~ortgag~e~the red , snd tbs insnrmos prooeed~, aW P~ ~41 b aPP~
~~g~ee ati its o tion e~tire~r to ~ctiun oi tbe indsbtednees }rerebj ~ecu~+ed o~ to t~e restoration oc ct
ths propety dama~ed. In event oi forecbwrs at tLis~s, or ot6er tramder oi tit~c to tLa mortgagea
prope,rt,~ in t oi tbs indebtednees ~eeni+ed Lee+eb~; aIl right,, tit3e, and iat~+est oi tbe Mortgs~oe
~n .nd to an~ in.nran~os po~~es~ tbe~ in ioros .hali pa~. ta tbs puerb..er oe ~antee.
8. He ~vi!! ~t ~ecute or 8le of reoord m~ in~roment which imposes a nstriction upon tbe aale or oau- i
paacy ot the property described henin on the basis a~ raos, ao~oc, ar ci+eed.
9. If t6e premises, or sny part t6e~eof. be oondemned uader the power ot eminent domain, oc aoquired
for e public uae, t~Le d es awarded, the prooeeds for t6e oi, ae tLe oonsideration ior snch aoq~isi-
tion, to the eztent of th~ull amount of the remaiaing unpaid„~ebtexiqeap saau'ed by fbia mortgage, are
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hereby assigned to the Mortgagee, and 6is heu~a or aesigns, s~d ahall 6e ~ paid farth~?ith tp said M- ee
or his ~ee to be spplied on ~ooount of tha last msturing instsllineata oi such i~~tneas • pruvided, o~-
ever, the ortgag~e or bi~s aesignee, may~st his discretaon pay direct to the Mort~g:g~or, his ~eirs or sesigns
sqy pu~t or all of such award, rovided~ t6at if tbe loan is gaaranteed or insured, tbe cansmt of the gwran- ~
u
tor opr insurer is obtained in ~ance of said ymea~. ;
10. The Mo tn~ , at auy time ~'mg a snit tms mo ~PP~Y,to the court h~ving jnrisdic-
faon thireof for th
~pointymeat oi r reoeiver, and wch co~urt ehail fo~~ aQpomt a reoeiver of the premises
cov~~ed bereby, aD and ~n~ilar.' induding aU and s~og~ilar tLe inoome. P~afita, ~su~s, ~nd n~ennes irom ~hat-
~ ever souroe den~ed, each and ev~rp of~h~ch~ u ~p~+eesly underatood, is hee+eby moctgaged as it speci6cslly
~ set forth and de~xibed in ths g~aating aad ~um cLusea hereot. 3uc6 appoiu?tment ehaU be made by
such oourt as an admi~ted equity aad • mact~ oi ~b~olute reght to said Mortgag~ee, and rntLout refueaca to
~ the adeqwcy or inaie quacy of the value of tLe P~P~~Y ~~B+B~ or ~o the solveacy or insol~e~cy oi said ~
M tgagor or the defendaat~. Such reats profita, inoome~ ~ssues, aad nqmues sh~11 be applied by s~ch rweiver
~
aeoo~„rdwg to tbe lien of this mortgag~e m~ the practxx of suc6 oourt. In tLe eveat of any default oa the part
d the Mortgagor hereunder, the l~iortgagor a~rees to pay to the :1~to oa demand as a nasonable woathlv s
reatai for the prcmisea an amount at kast eqw~aleat to ane-twdith s) ot the a~e+egate ot tbe twdve montbl~ ;
installments payable in tbe thea curreat yeu plus tLe actual amoua~ d tLe anaual tues, assaemmts, Mrater +
ntea, aad insuraaoe premiums for such year not cooered by the ~ioreasid awnt617 Pa7~~• ~ ~
11. In tbe event oi aay breach ot this mortgag~e or default oa the part oi t~e Mortga~g~r, ot in the event
tLat any of said sums oi m~oney henin nfesred to be not pmaipdy ~nd fully paid aa~ondiag to tLe tet?or he,~+eof ~
or in the eveat tLat each and every tbe stipuLvons, ~g~+ee~neats, oonditian~, aad oov~ants.of said note an~
this n~~tgag~e, are not duly~ Ps+omPdy, and inll~ pectormed or it the Mortgsgor be adjwlicated bankrupt or ;
made defendant in a baaiwptcy or reoeivaship pxnc~eedinps t~m m at~h~ or anY s~ e~e~~. the sa~d ag~e" i
g~te wm,men~wae~ in said-not~e tLearemammg ~mpaid, w?~th int~+esL ~cnied to tlut time,~and ~11 moneY ;
sec~u+ed l~+eby - sbaa. bacoma dua: aed p~~abla forthwith, or tbaedt~er, at t~be option of asid 11iortgagee, as ~
fuUy ~ad aomp~etely as if a11 the said sums oi money we,~e ori~n~lly stipulated to be prid on auch day, anr
thiug m said note or m this mort~age to the oon~ notwithstanding: and t,6ereupon oc thce+eattec, ~t the option ;
af said M t~g~e,~~cithout nohoe oe dem~ad, swt at law ar in eqnit~, mao b~ pe+nsecut~ed as if all mo~ne~rs
sccured hereb~
y~
-~ad matured prior to iLs inatitution. 1'~e M may forecloae this mortgsg~e, as to t6e -
amouat so declared d~u and pnyabls, aad fLe said pnmisa shall~~sold t,o satisfy and pay Llr~ saroe togriLer ;
witL casta eacpensea, aad aUowaaca. In ca~e of pastial foreclos~u+e oi tLis mortgage, tLe mortgagrd prrmixs ~
aLaII be w~d subject to.the ooatinuing liea oi tLis mortgs~e for tLe amount of the d bt not tbei? due a~d unpsid ~
In sucb ca~e t~ prov~ of tLn ~ may ~am be a~~ed oi tbaeaiter finm time to time by the ~
~ 1=
2
No waiv~ oi an~ ooveaant herein or of tbe obligstioa seeac+ed Lerebp shsU at any time tbenafter be
held to be s waiver ot tbe t~erms Leraof or of tbe not~e secured l~a+eby. ~
I3. 1be liea of tbis imtrument sLa11 nmaia in full foctix aad effect d~uing aay postponement or extension '
o[ t7~e time of payma?t ot the iadebtedness or ~ny patt thereoi secured Lereby. :
14. lbis t~a~e is givea to aecure the pureLa~e money , o~r a part tLere~i, oi fbe Lnds buein described :
aad i~ eaiecuted~and de4va+ed o~?t~nporaneowly ~rith tLe deed tLentor. . ~
15. If tbe ~Iortgagor detault in aay oi tLe ootmsnts or agreemeots oont~iae~d baein, ac in said note, tLes ~
tbe Mortga~ee may pa~form tLe same, and aIl e:pendiEures~including reasonable attoruey's feea) muk b~ the ;
e
M m so shall draw inter~st ati tLe rste pro for ia th~ principal indebtedneas, and slull be
repa~~7
(30) Ys sft~r demand, aad, together with iaterat and aosta a~ocrued tLenoo, sLall be secured
~ 16. Upon tbs requat of ti~s M tLs Mortgag~or sLall e:ecute aad deli~ec a sn~l~mental aote or
note~ for tba snm or sums sd~ancod~Mortgsgee toc tbe slt~ration, modaniution. impro~ement, main-
t~eoanoe, or repair ot wd pe+em»ea, for tases ot as~ew~unts against tbe aan~e aad foc aa~ other purpo~e antLoc ,
ised.L~+eunder. Said note or nota sbaD be iecured henb~ on a pant with aad as iuU~ as if tlre ad~anoe ~
a~ideaoed tbereb~ wee+s ioduded ia tbs note fint daeribed abo~s. ~w no shall bear ;
~
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