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Home My WebLink About2083 3. To p~ace and continuo~siy keep on the bui!dings now or hereafter i~tuste on sa~d land a~d on all eqaip~nent ard pe~sonally covered ~y thie mortg- age, with ail premi~ms thereon pa:d in iull, fire inwrance ~n the uwai standa~d pol~cy form, in a sum a~.p~oved 'by the h1UR~G~GfE, a~~d N'1'7(IStOfill ~nsurence in the usual srandard pa:~cy (orm, in a sum approvrd by ~he MORTGAC,EE, in wch co~npany or compan~es as ihe 4tJ2iGAGEE may direct; and all (ire and w~ndsrorm insurance po~~c~es on any of sa~d Iwild:~gs, any inte~est the~ein or part thereui, in the aggr~yate s~,n aforesaid or in excess thereof, shall contain the uaual standard mo~tgagee dause o~ such oiher clause as the Mortgagee may ~equ+re, .r,al~ng tha less ~~.der s:~~J poli- cies, each and every, psyable to said MORTGAOEE as its ~nter~s~ may ap{xar, and each and every such po!~ry shall be prornptly ass"ijn~d a+~d de:r.arrd ~o any held by sa~d MORTGAGEE as further srcu~ity to sald niortgage debt, and, not iess than ten (10) days in ad~ance eF ~he e¦p~~a~~e+~ of ~,,ch uoGCy, to dr- Gve~ to said 610RTGAGEE a renewal thereoi, loge~he- with a receipt for the prem~um ot such renewal; and there shaU be no i,re o~ .•.!~~Jste•~n inwrance plated on sny of sa:d build~ngs, any interest there~n or Fart thereaf, u~less in the form and w~th the loss ~ayable as aforesa~d; and in t1~e e~ent any sum of mooey becomes payable under such policy w pol~cies said MORiGAGEE shall have ~he opt~on to rece~ve and app!y Ihe same on acco~,:v ol tha ind~bt~~d- ness secured hereby or to permif aa~d MORTGAGORS to rPCeive and u~e it a any part the;eof for u:i~. r ~ ~J ~'"i~~"• ing any equ~ty, lien or right under or by virtue of this murgage; and in the event sa:d MORTGAGORS shall ~ ~e~ ai ~~~p~emii~~s so ~ns~red, or fail to delive~ promptly any of said policies of inaura~ce to said MORTGAGEE, or fa~l promp~rT~p~~y ~ w r o~ in any respect fail to pe~form, discharge, execute, effect, complete, comply wi~h and ab~de by thls covenan~, or any p~CN2~~b~'~R~~~E may piece a•ro pay for such insurance or any part thereof withou~ waiving or affec~ing any option, lien, equity, or r13M under w by virtue oi ih~ o~fgage, and thE futl a+no~nt of each and e~ery such paymeN shall be immediately due and payable and s?~ail bear inte~est fiom tFx; dat~l u~~=~~~d at tha r~te ol n~ne prr cent~m per annum and together with such interest shall be sec~red by the lien of th~s mwtgage. d ~T ' 33 1. To permit, commit or suifer no wa~te, impairment w dete~ioration of sai property w any pa r 's ~ ~lT • 5. To pay all and singular the costs, cnarges and expenses, including a reaso~abte atrorney's fee and costs of abstrac~s of title, incur.ed o~ paid ar any time by said MORTGAG:E, because a in the event of the fa~iure on the part of ~he said MORTGAGOR to du!y, F:omptly and fuliy perform, d~scharge. ~xecute, effed. tomp~ete, tomply w~tS jnd ab:de by each and every the stipulanons, agree~nents, conditio~~s, and ~oxg iauts of- so~y note a~.d ~h{s mortgage any or enher, ard said costs, charges and expenses, each and every, shall be immed~ately due and pa.yeMe; w~t/~e nonce d:~ mand, attempt to co!lect w suit pend~ng; and the full amoun? of each and every svch yayment shall bear (~t~~~t ~osif~a~.~ t~1~r ' i1 pa~d at the r,,te o~ nme {xr cenwm per anncrn; anc' all said cosrs, cnarges and [Xa21UE5 incurred or paid, togrtl~er ~r~th suth interest, shall be sewred by ~e hen of t'~~f mortgage. ~~Q!'tf 6. That (a) in the event of any breach of this Mortgage or default on the part of the MORTGAGOR, o~ (bl in ~he event any sa;d su~ns of monry herein refened to be not promptly and futly paid within thuty (30) days next after thc same severa'!y becorne due and payable, wit~out demar.d or not~ce. er {c) in thr event each and every the stipu~ations, agreemeNS, condi:ions and covenants of sa,d pronuswry note and th~s mcitgage any or either are not ~uly, prompily and fulfy pe~formed, d~scharged, executed, effected, completed, compt~ed wi~h and ab~d<d 5y, then in enher or any such event the sa~d ag gregate sum ment~oned in said promissory note then remaining unpa~d, with interest accrued, and a11 moneys setured hereby, shall bccome due and pay- able forthwith, or thereafter, at the option of said MORiGAGEE, as fuily and completely as if all of ~he sa~d s~~ns of money were ong~na~ly snpu~ared to be pa~d on such day, anything in sa.d p~om~ssory note or in this Mortgage to the co~trary notwlthsrand~ng; and therev{wn or thrrealter at the opuon ot said MORTGAGEE, without notice or demand, suit at law w in eq~ity, there(ore or thereafter begun, may be prose:uted as if all moneys setured hereby h::d mat~red prior to rt; instiwtion. 7. That in the event rhat at tbe beginning of or at any time pending any suit upon this Mortgage, o~ to fa~.~ose ir, or to reform it, or to enfu.ce payment of any claims hereunder, said !'dORTGAGEE shal~ apply to the Court having ~ur~sd .t~on therrof ior fhe appo~nunent of a Recr~Yer, s~ch Cuurt shail forthwith appciM a receiver of said mortgaged p~onerty all and singuiar, indud ng ail and s:nguiar the income, profns, issues acd revenues f~an v.h.~trver source deiived, each and every of whkh, it being expressty understood, is hereby mo.rgaged as if spec~frcafly set forth and describ~d ~n the g~annng and h~bendum clauses hereof, and such Receiver shall have aH the broad and effecnve funct.ons and powers in anyw~se entrusted by a Cou~r to a Recriver, and s.ch appointme:it shall be made by such Court as an admitted equity and a matter of a6sul~te rlghf to said MOQiGAGEE, and w~thout reference to ~he ndequaty o~ inadeq~acy of the value of the property mortgaged or to the so:vency or ~nsoivency o1 said MORTGAGOR or the deie~,da~~fs, a~~d ~h~t av:h ~eon, profits, income, issues and revenues shall be appGcd by such Recener accord~ng to the lien or equity of sa:d 610RTGAGEE and the pract~ce of such Court. 8. To J~ly, prompfly and fully perfo.m, discharge, exec~te, effect, compfete, comply w~th and abide by each and every the st~p~:ations, agreements, conditions and covenants in sa~d p-omissory note and this mortgage set forth. 9. Tfiat in the event the ownership of the mortgaged prem~ses, or any part thereof, becomes vested in a person other than rhe MORTGAGOR, the M•ORTGAGEE, its successors and assigns, may, without nohce to the MORTGAOR, deal w~th such svccessor or successor in interest with rctrrence to this mortgage a~d the d~bt hereby secu~ed in the same manner as with Mortgagor w~thout in any way vit:ating or d~scharg~ng the hlcrty;gors' liabitity here- under or upon the debt hereby secwed. No sate of the premises hereby mortgaged and no forbearance on the pan of rhe /hORTGAGEE or its svccessors or assigns and no extension of the time fw the payment of the debt hercby secu+ed given by the MORTGAGE~ or its successors or ass~gns, al~all operete ~o reiease, d~scharge, modify change or affect the orig~nal liao~l~ty of the M~ORiGAGOR here~n, either n whoie or in part. s~o. ~ v 10. It is spec~ficaily agreed that time is of the essence of this conrract and ~Q~ ~ver of any obl~gat~o~h~~ ~of~ ob!igation sr cured hereby sha!i at any time thereafter be he:d fo be a waiver of the terms hereof ~'41!'i~St~i~IIT:~-~7~R~~ P~TM, U't U't .iJ113 ti 1 11. In add r.on so the forego ng monthfy paym~nrs of princ pai a~id interest req~~,'~(jth~~~ ~~s~~c~+~l~{]~ mortyagor covenar.ts a^d agrees to pay to mortgagee ~nith each monthiy pay~ ~ent an add~~~onal sum est~n ate~,bv_pqo{~~y,1o l~ee~qy~i_ tqyl „12~f th~ ann„a! cost of the foliow- UG tt t'vtRJtJ GI ~u~uR lAU A-All real prope~ty taxas levicd or assessed agai•~st the above dezcribed real a1YaaQPJTt ~OI fl~'~N~~ ~~y B-Fren:~u~ns on f~re and w~r.dstorm ~nsuracce as nere~n requ:red to be carr~ed o~tt~~r~py,qp~~~~~~~the abave d_svlbed prem~ses. ~Riw a~ I C-Pre~niums on such morrg=ge guaranty ir.s~rar,ce as mortgagee shall from t me to tim ~dee~m fit to carry on the loan sewred hereby. i Mortgagee sha'! f.em t~me to t~me notify mortyager in writ~ng o4 the arnou~t c~ and payabl~ereundar and such s~~~ sho~l ther~~~~pn be d~e and t ~ayab~e on the d~e date of the rext month;y payment and each suuessive month the~ealT_^TuciiT'moTgagee sfiafl-nof.y,,~m,~o,,r or o a c~hange in s~ch E a^~ount. Such sums sFa:l be appl~ed by mortgagee roward tne payment of real p~operty taxes, insurance prem.~ms, QR~4fi~ gua~anty insurance ` c miums. ~ f, • ~ IN Y~ITNE55 WHEREOF, tne said MORTGAGGR has hereunto set his hand and seai the day a ~~r first r~s i- ~ ~=ION ~ ' ~~d and de~iver in th e af: ~ ~ .ti•t' ~ BY : ' Seap w tl 2?t Q~ @: aq ~ ,a?~~ AYTBST : ,F. a~ (Sea~) ; ' - 7 _ ~a ~ : - ' ~s Jo n o, Secretary (Sea~? , .f ~iT~•= ( - - - - - - ,r a : t`~ ~ . : ~ STATE-Oi~,~ • x~ggprrp COUNTY OF 900~ HSNNBPIN ~ ~ I HEREBY CERTIFY, That on this ~3 day of ~to~= , A.D. 19 7O , ~ before me personally appeared F. Pau3 HasyaYten ~~d B. John Abdo ~ respectively President and Secretary - , of Mobile Aa¢ricana Cosaoration d•'- nnesota . ~ Corporation, to me known to be the persons described in and who execute~# the for~?~p_ in~ instrument, and severally acknowledged the exe- ~ y •,t ~~s ' _ cution thereof to be their free act and deed as such of~ie~r,~~.~~..and pursoses therein mentioned; ar.d that they 'Y tr~. ti . ~ affixed thereto the official seal of said corporatioci,.~ ;~'j$~ ~•~qstrument is the act and deed of said corporation. ~ ' ~~'~-.f , ~'VITNESS my hand and official seal a~ ~ said count and sta e. ~ This instru~nt prapar~d by _ ~ lohn w. Collins ~ ~ ` ~ Public, in and for State and Count aforesaid. y ~ F it st Fedazal Savinqi ilid LOan ";~~y Cpmmitsion Expires: ROBER7 A. SCHMEIZER • ~ AisOC~aL~0~1 Ot ROlt P~@tCl~ RlOt~da Nota?y Publ~c,HennepinC~unty, Minrt. ~ My C^mmiss~on Expires Aprit 17, 1976. ~ ~ F-> 1 s.= t' l_U:-'.:_: ~1 . . . _ , ,A w ~ . ~ _ f, . ..L~.•iEfiTN~~~~ ,~T?.~ll` ~J ~ j ~ i , ~ 1 LJ~ ~i~~ j~~ .~i~l it~' s ' 'EMT~:~ ~ ~ ; ~ x ~''j ~ „_51670 _ - '7J ~ ~ - _ - ~ ~::.^~~`~~900= `~9900-= d': - ~900= :9900' - i ~c~~c~ - _ ` - , _ _ - 990~= - - - - - - - - - - - _ . _ . 3 " - - - _ - _ ~ ----=.0 - - • - ~ _ . . . , ~ . : ~ : - . - _ - ~