HomeMy WebLinkAbout1109 3. In th~• ~t•~~nt Ih~rr slinll b~• jilc•~l ~ brl/ to (un•r•los~• lhis d~~vl. Ih~ plui?iti(( ~hnl1 imm~•diu?~ly un~l ~
u'tfhou! notr~~ hi• ~ntlfl~~d lu Ihc~ a~?~?~,~nrm~~~tl u( a?~~c•ric~r (u~ 16~ muilR~i~~~d pmp~•~h• un~l Ih~• n~nl~, ~
eorninRs. i~su~s, incom~• und projifs Ihrrro(, ~cith thc• u~ual p~,u~c•r o( mcc~i~~c•rs in .u~•h ~•us~s. und ~u<•h
icccit~~r mcn• b~ c•on~i~~urd in pos~~~tision uf scrrd propc•rl~• nnd u/ ,oed r~nt~, ~arnin~s. issu~~., inrum~• ~
and pro(i1s of suiJ prapcrt~• durin~~ th~• prndc•ncy u( suc/~ /orc~clotiurP suif, nnd Ihe 11~?rl~a~;ui hc•n•b~• ;
specifiru?ly u•ai~~c~s th~ ?i~ht to abj~~~t to such appoinlmc~nl and c•onsents lhat ~uc•h uppuinfm~v~t shnll !~e ~
made as an adnriftc~J cquih~ mtd as a matf~~r o( obsu/uM ri~hl lo ih~ 1lortgq~;~~c, and u•rlhout n•(rr~nr~ fo
the udcquacy or i»udc~yu~t~y oj the i~alue.of ?h~ mort~;a~~d propc~ty or fo the solt~cncy or insulrency o( -
lhc ltorfga~or or any oth~•r porl~~ dc/'c~ndcrnt to such ~uif. f
4. In Ihe ei~en! lhc~ ou•ne•rship of !he morlkaK~d pmmises, or any part Ih~?eo(, 6ecomes c~st~~l in a
person olh.er than li~e 1larlga~or, ~he .llort~a~ee ma~•. ui~hout noticc lo the llor~~a~or, ct~al u•ith such suc-
cessor or successors in inter~~+l tt•rfh r~(e?c~ncc~ to lhis d~ed and thc debl hrreby sc~cured, in Ihe same }
manne~ as u•ith the Vort~agor ce•ithout in an~• ic•ay i~iliating or dischar~inR the 11orf~ago~s' Iiabilit~• hrre-
Lnde~r or u~~on th~ dc~bt her~~b~~ se>~urrd. \u snl~ o( the pmmis~~s h~reb~• morlga~ed and nv (ortx~oranc•~• un
the pa~t o/ lhe ilorlgu~~e, and nu ex~entiion oj ~h~ timc (or the pQ~•ment o( th~ dc~G! h~reby sec•ured ~r~~c~n
by the Jlort~a~ee sha!! opc~ra~P to ~~l~use, dischnrgc~, modi(y, change or o((ect Ihc~ original liabili?y o(
lhe 11orJgogor herein either in u•hole or in parl.
5. The lien o~ Ihis deed s~cur~s and shall continuc~ lo secure pa~~ment o( said indebt~dnc•ss or in-
debtednesses, hou•e~~er c~ridc~nc~d, ~chether 6y said prumisso~~• nole or any ren~u~a1 or exlenci~n lh~mo(
or su6stetute the?e(or, or oth~ric•ise, unlil nl1 such indc 6ledness shall hace 6een jull?• pQid.
6. 1( ~oreclosure p~orredi~:gs o~ an~• second mort~age ar any junior lien oj any ktnd shou/d bc~ in-
stituted, fhe Jtor~ga~e~, i1: surcessors or assikns, mnv at ils oplion, immediateJy or therea(tc~r declare
this mortgage and the indc~btedncss secmed here6y duc~ and pa~•obfe.
7. Thaf in the euenl lh~ premises her~by mortgaged, or any part fhereof. shaR be condcmned and ~
loken (or pu6lic use undrr ~hc pou•er o( eminc~nt domurn, thr. Ilorlgagec, ils suc~essors und assigns, shall
have the ?ight to demand thal u!l damages arcardc~d (or rh~~ taking o( or domages to said pmmises shvl! ~
be paid fo the 11or~~c~gc•e~, it. succ~ssors or ossignc, up tu th~ an?ount then unpnid on this mortgage and :
may 6e applied upon 1~4c paymcnl or payments last pa~~oble hereon.
8. The terms "liorl~u~or" and "1lorlga~ee" u•h~nec~r usc~d in this instrument shall include the
heirs, personal representaficc~s, suc~essors and assi~ns o! the respectit~e paslies hereto. t1'herever used
the siRgular numb~r chall include 1he plural and the plwal t he singular, and the use o( eny gender
shall include al! genders.
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