HomeMy WebLinkAbout1101 ~
~
(2) general and special taxes~ insur~ince preniums and all accrued
principal and intcrest on the note secured hereby. This power
of attorney and assignment of rents shall be irrevocable until
this mortga~e shall have been satisfied and released of record
and the releasing of this mortgage shaZl act as a revocation of
this po~~rer of attorney and assignment of retits. This po~.er of `
attorney to collect rents shal2 not take effect until and unless i
i
default is made in ttie payment of principal or interest on the ~
note secured here~~~ or any extension thereof, or default in ~he ~
perfornance of any covenant in this rsortgaa,e contained, and shall i
continue only during such de£ault or any subsequent de~ault. ~
PROVIDED, HOWEVEF, that if said note and interest ~
thereon be paid cahen due and the agreements in said note and 1
the mortgage be faithfully performed, then these presents ~
shall be null and void and the prernises hereir.before conveyed
shall be released at the cost of Mortgagor. But if any of the
agreements herein or in said note contained be not kept or
performed as aforesaid, then the remaining indebtedness secured ;
hereby may at the option of the Mortgagee, t•rithout notice, be
declared due and oayaale for all purposes, anything herein or
in.said note to the contrary not~.~ithstanding, ar ~lortqagee may
at its option effect the necessarv repairs, pay such taxes or
assessments or any part thereof, effect such insurance by pa}~ing
the cost thereof, and may nay and sat?sfy any fina2 judgrr,ert on
any lien clair.i, inclu3ir.g all costs and exoenses in connection
therek•ith~ and for the repay:nent of all mor_eys paid on account
of the premises, with interest thereon fror.? the ti:r.e of pa}~ment
at the rate of tc•:elve ann one-half per cent (I2 li2$) per annum,
the presents~shall be security in like manner and with ~ike
effect as for the payment of said note. In the event of any
dEfault, ~?ortgagee shall be entitled to foreclose this mortgage,
either by judicia2 action or bl advertisem,ent and sale, and shall
be entitlea to a j~a3g~ent for the sum due upcn said note and _
any additional su.«s paid by virtue of this mortgzge, including
all costs and expenses of en~orcing the sa.~ne, as provid~d by
law, and shall be entitled to a decree ior the sale of said
premises, as ~ti~ell as all perscns claiming under ~iortgagor, and
at which sale a~praise:nent er said prcperty is hereby express2y
waived by :iortgagor, and all benefiis o~ t~:e Nor.zestead, Exe:r.ption
and Stay Lac,~s of the Sta~e oi ~:isconsin or equivalen~ ia:tis of
the State in c:!~ic:~ ~he real estate is located are ::er~by waived
by the ;•ior~cagor. ~lortgagee is also here~y irrevoca~ly grar.ted
a pcc~~r er.ereisable ac t::e aptio~ oz the l:oztgagee ;.o sell and
convey the ~:ortgagea pre.^..~ses uoon defa.ult and to take ali
other ac~ie:~ to e~~~c~ a ~oreclosure a` tnis r.?ortgage wi~ :ost
judicial proceeair.gs by acivertiser.ient ar.d sale in accordaace
with tze a~~licabi~ provi~ions of t::e :disce. sin Sta~utes or
equivaler.t la:as of t'r,e State in cti•hic;1 thE real estate is located,
and to a~ply t::e DrOCc?CCS of any sucn sale, aiter deducting t'r.e
costs and expenses *h~reoi, to the princigal ana interest
then re:~air.iny ~s:ipai6 u~or. the note secsre~ aereby and to
all other suMS C'1@ to t?~a ::ortgagee fro:r, ti:e t:ortgagor under the ;
terms of this ~r.ortgage. ~
In the case of the cor,unencement of foreclosure of
.
_6_
i
i
~,K ~p~q ,
i9i ` ~
s _ . -