HomeMy WebLinkAbout1935 ~ ~.1
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S. 't1Nt IrR wiU pe~oit. cawatt. q~ s~Etet oo ~raats. i~pa~C~t. a deNrioratlaa ot saW p~o~dr o~ sAy P~et ~
etiee~d; ~d i~ t?e ere~t at tb~ tailaer d tht ~a to lo~tp tfw bulWiup on ~ald P~'~~iaes a~d t4os~ tob~
e~ect~i au s~ia p~wises. or i~p~ove~sats tire~oo. i~ ~ood e~p~i~. tw aw~t~s~ ~y a~k~ sucb c~p~t~s ~s ia !t~
di~atlo. it ~ay a~ Eo~ tlr p~op~e pe~a~v~tlae ti~d. aad t~e tdl ai e~ch.~ad ~wry s~ch
Mywe~t.siwlt ~ Ia~edi~ttly d~rt ~MI p~~bM. sMi siw11 b~ st~ca~d b~r t~ UNt cf thjs wo~tpp. ,
6. Th~t 4 wiU pay alt and sia~utu tit costs. sh~r~es. aad ~tp~as~s. iocludi~~ ewsaa~bi~ lawy~'s Ie~a,
~ ard costs of abste~cta oE titk. iacuned a p~id at aay tiwe by th~ wat~s~e L~cause of tM f~ilu~s ca the put .cf
tbe ~~or p[o~ptty ~ad iully to p~rfa• tl~r ap~ewMb ~ad care~st~ d s~ld 'pccaiisay ~eot~ sad tbis ~a~t-
P~e. ~sd said casts. cbactas. Md rt~peas~s slall be tu~djately due and peyable ~ad shall be ~uc~d by the ~
11~en aE tkls ~o~t~e.
7. Tl~at Le ~i11 keep the iwp~ovseeats naw esistiu~ ar bere~Ker ecect~d oa the aa~tpt~ P~~~Y• Iasund as
,~.y be e.~~rsd b~aw ~.e co ei.~e by tl~e •at~ae a~,s~nsc ioss by itr~ aad ocb~ b.sards. cuu~ltiesy and coatiq-
~eacies Ia s+~cM aaouats aad fa sucb perlods u m~y be requiced by aatp~, a~ .;i~ wr ~~ttr. w!~ d~e,
any p~cwiass ou s~cl~ lasdranc~ fa p~y~eat af ~rbich pe~ovisloa has sot be~ta ~s3~ berstabefare. ~li iesarance
sl~ll be _carriad in coa~p~aies appcoved by ~oetpstt ud tbe polic~ss sad~ e~eMwals tbeceo[ sball be held by ~t-
-~nsea aad 6av~e attacbed tbereto loss p~yabl~ cituses ta f~vor of aad Ia foro ~oceptRble to the aatp~aa. lo
evaat af lass 6s wUl sive i~wadfate.aatic~ b~r w~il to aa~t~~. wd e~ott~a~.may aloe p~oof ot loss if not
~[~P~~r M~P+*~• and eacb ~nrmce caop~my ca~cee~d ts be~eby #athodsad aad d~reMed to mnke
p~yeest fa~ sncb less dteectty to isaet~~ae iostead d to oatp~ac aod +saetp~ee•joistly. aad tbe isannace p~o-
ceeds, or asy pat tbasaoE, ~ay-be app~kd by. ~ee at Ib optian .eitber to t6e tednctloa of t6e iadebt~aess
he~eby secw~d « to tLe cesta~tia~ ac repdt af the pcape~ty d~ma~ed• In eveat d Ea~eclosure oE this matg,~~e ar
ctb~r traosft~ d t~tle to tLe satPl~ ProPe~Y ia extio~uish~oeat af the iadebtedaess secu:ed heceb~t. all rl~,6t,
title, aad iateceat af the ~aet~~a !n ~ad to any Insac~ce policies tl+ea ia face sbaU pass to t6e purcbaset a
~autee. , ~ . . . ~ = _ ,
a. Teat ~ do~c~ ..y. st aar u.e peda~~ •:a~c n~ c~;s a«t~~e, ~gply to the caut havie~ j~clsdirc-
tion tl~eeeaf fa tlis ~ppoiatwieat af e ce~xiver: pad snch caut si~at2 fathwitb appaint a eeceiver af tbe pea~ises
cavtred Leteby~ll a~d siaEuiat, ~cladis6 all and singular t6e incooe. profits, ias~es. and ~ven~s fras wbatevet
soaece dedv~ed, e~c6 wd every d whicb, it beic~ exprossly ~nd~rstooa, is bereby eoecp~ed as if-~pecificolly set
Eortb apd d~scribed ia the ~raatin~ aad iwbendws clarses hereef. sad sach tecelvar sholi have oIl tbe bro~d atd~,.<..:
effectiva fanct~aos aAd pawers ia aapwi~a eMrusted by a cauet to a receiver~ aed snch appoiatoent-~U be w~de'
b~s~b cart as aa ed~itted eguity sad ~ awttet af absolute rlRbt to said ~atgpg~ae. and withouf eefelre.nce to tbe '
ade9~? o~ ia~deqaACY d t6e valne oE tbe P~~KY ~iated or to tb~ s~lveacy ar iosolveacy aE said maet~e~,~
oc tbe det~, ~ad that ~ snch reats, profits. iacoa~, issne~. ~d reveoues sbsll be applied by sneh recelve~
accadia= to t!~ llea o# this oo~t~age and t6e pcactice oE snch caut: Ia tiie eveat of aujr defa. t on t1~e ~ t
~ ~ Qt t~e : ,
mo~tgagoc 6a~euadar, t6e oat~a agree~ to poy to tbe Qat~p~ee oa ~aiand as a reasoa~lbl~ mond~lY'., I~fv~-{
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t6e pceoises an amount at leaat eqpivalent ta eoe-twelfth (1/12) aE tbs a~gre~te aE tbe twelve mont~ty~~lt~'
~nents poyable ia the tbee cuce+e~ ye~r plus tl~e act~l asount of tbe annw~l taaes, assess~ts. woter cates, ~ad ,
iosn~ance qe~iwas fa ~ncL ye~ar eot cavecod by tbe afaesat$ ~th1Y PRYpents. -
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9. That (s) in tLe event oE an bnwch af tbis mat e or defaalt oa tLe oE t6e eoet ' y~- `
Y ~a~ P~ Ps4~a.a, Nl ~
eveat tbat aey of said aaos d~y liereie refecred to be Aot pcomptly and fn11y poid witbout diel~a~lid' or aotice,
ac (el i~ tbe event 2Lat esch aad every the. sttpnlativa~, aitee~aats._ cunditioas. aad cove~ants of said aote aad
this mat~e, are aot dnly. pco~uptly. and fntly pedoreed: tDen ia either a~ any such evsot, tbe said ag~e~ate
sue mentioned in said aote t6ea te~wiaiaa unpoid, with interest accrued to that tive. ~aa all moneys secnred
beeeby. s6aU becoee due aad poyabb farthwltb. a thectiRer; at t6e optioa at siid matpgee, as futly aad coA-
pletel~r as if alt d ths said soes af ~oaey aese Qri~iaally stipul~ted to be poid aa aa~cb daY. ~Y~~t ih ss~id
note ac in tbis aatgp~e to tbe caatrary adwitbsEaadLo~;.aa~ tbe~eupon a tb~afte=. ~t tLe aptlon cf said
~ee. wi~hu~t notice ot dt~wnd, snit at I~n~? a ie eqrtty, awy bs pt~osecnted as iE +~ll ~oneys secatad 6erebq bad -
~atared priar to its institntiaa. Tbe iaat~t~se may foeeclost thls woct,~~a. ~s to tLe awouaR so declared due ~rnd .
€ Po~~, and the said pe~~ista ~sll be sald to sdisfy and p~y tbe saws to~etbes witb ca~ts. exp~nses.aad ~llaw-
saoe:. 1s case ~ p~rtfal foe~ecMsare of th~s isatp~a, the eat~yymd pesaiaes s6a11 b~ so3d subject to ths co~a-
m
tlani~ lie~ oE this ~oRpse fa N~e a~~onat a~ tbe ~ebt aot then dee asd oapaid. tn suaA csse t~e ~rovlsiaas of
t6h p~a~pti ~Y aa+~ b~ avaiki d t~~reaka fro~ tlee ta ti~se by t6e ~nat~. . :
10. Tbat,tbt: +~t~tac will ~ive inmed~ate notioe by a~I1 to tbe sat~~r af aay conveyaace. traasfer. uc
chaa~ ~f ~~~P °f~S~ P~ius•
l1~. T1~t no wai~r, ol-,~uny co+?eaapt berein. o~ of tUe obUgatloa secmed he:eby sball aR a~y tine tbereaftec be
. Leld to be a~rai~ of th~r t~ss Mseof a of tbeyote secured bereby: ~
I3: T6~R lf tbe aart~ai det~alt ft~ any. of tt~e~coveos~ts a s~eeia~e~ts ~oataine~.ha~ei~. as ia s~i~ not~. tbea~ _
tLe aartg~~se~mip.pprEon tLe ~s¢, a~ oll e:peadHates (isclndia~ ~aaoosb3e_a~orqp~r's-f~r) ~er b~i~ttie`
~oat~s~e ~ to da~ ~aw iateiest a! tbe rate set fcrth ia the nete secnred h~eby. aad skall be rep~Yabl~ -
i~edia~elT fad witbont ~d br tLe a~oct~a to tbe ooct~ee. and, t4~atbec.~Itb iatet~st ~ coab accruios
tbe~eoa,-s~tll be sec~ ~y this aoct~p~e. - _ . ; ~ . ~
13. t~d ~ba ~iiie~,ot a writtau.notice ~c deaand addreasad to tbe araer `qE recad vE tbi~ mat~a~ed pceiaises.
ar dieectod to.t5e s~ld a~e~er ~t tbe t~st adde~ess a~ctwlly tara~sbmd to th~ moetgp~. oc dieected to said ara~ st
said ~wetP~pd Pmai~es. aad w~~d b~ t~e Uaited ~ates aoils, tcb~l ~S: safficie~E sitioe ind deo~t~d ln k
case K~in; ~ thjs i~atnaenot asd e~eq_ni~d bq 8N ~l~t~ss ~-a 4~ ~rr~ r
14. Tbe ~oetp~os f~rtlws.co~eessts t~st si~oatd :tbis ~ t~ ~ s~c~d i~ebr aaR b~ ~lit,ibje
fa iosa~a~at awde~ -ti~e Alat~on~1. i~ias Act ~ritt~in- • SI~ lw~ f~. tl~t dat~ l~eraof (wcitLea st~te~eat
d aayr aHjar d the Dep~et~sst aE Hoosiaf ~ Ueb~ DewloQoest oc aetboriseQ~ a~t tf the S~cr~taq? d Hons-
. ios ~d U~6en p~velopoed d~ted s~ to tbe 8II ~S ti~ Et~o~ tl~t date of this eat~tp.
decliaiai to iasue~ s~i~l aata aad tbis watpp. be~~ des~rsd ~ceciasive proof at s~ faeli~ibility~ t~e ept~,r
pe a tb~ holder d tLs nots ~ay. at ~ aptlon. dsclsn alt sWOS s~cviced bereby i~osdistelly dw aod pay~la.
TM eoreM¦Rs ~l~ caatais~d s6~lt blad, and t~s b~ tewd a~vap~a~Mt ab?It innrs tb, t~ sespectltrt
~ belae. ezecata~s, adsjnhtiatas. suocessars. ~wd a~i~os af tbe pactiea her~+W. ~~c wed. tht sL~ala aas-
bec s6~11 iaciud~ tht plaal, tb~ plerol tbe atn~nl~r. and tbe us~ oE~ ~~3~ ~l~d~o,~dta.
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