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HomeMy WebLinkAbout0618 ! and it Aturtgag:ir ahvll (aithlully und pn?mpll~r a~mply with and {x~r(orm i•urh and ew•~y tti?vrtiant nnd provisiu~ herc~ut, ' , tl~rn thia tnurlgi:g~• :~hall t~ void. but uthr~•~xc yhaU eemx~n in tuU funr and cftacl. ~ I ~ :~Ill ..~{~~tCtt~:tt~pC lun~1 i( mon• than nne. Pach ot them juintly arnl w•vorallyl du~~s hereby ro~inant and aaree as ~ tI.II.~N.: 1. '!'hat rlu~tgagor is thP ownr~ of lhe murtgalCC~l pooperly with tult {x~wet and right to murtgage sxme, an~l said pnqx~rh• is tn~r tn?m all li~•ns and e~x•un~hrarK.~x .•:crpt as sset (o~lh h~ ~rin. I~lortgagor dora hemby tully war~ant the tiNe to :zxid pn~{~ ~h•, an~l wiU detNnd it againat the (awtul rlaim~ u[ all prrsuns whums~~ver. ' Tu {~ay th~• sums ot moncy agrc~i by thi~ mortgage and said not~• tu be paid and any e:tensioas or ~nrwals thereot x~tiY~rdin tu th~~ tru~ rftcrt anil meaning themut and in amtormity with ail ot the lerm~, pruvisions and conditions a~c x ~grcvvl t .•nin. 3_ 7'0 ~?ay all tax.s, ac~.~-.ments, le~•ies, liabiliti~~s, liens, obligatiam and encumbrances u[ every ki~d and aature u~ tha murtg~nrl pn,perh• t~[urn delinqurncy. i[ Murtgagor tails tu pay tha .Amr be[ore delinquencv, Mortgagee may pay the sumr and charyje 111ortgago~ as providcd irt Paragraph l3 hen~[. 1 ~ J. To i~~urn the mo~tgageci property by ca~ryina firn anJ e:tended n,vcrnge in.Qurance policies contairting the standanl i morigag.~e clause (alsu k~own as the standa~ci or union mortgage clausr) making all loes payable to 111ortgagec a+ ? \tortgaK~r'x interest may apExar and provicling that the ia,a~ance, aes a~ the internst ot the 111ortgagee there~n, shall ~ not 1x~ im•alidatatil by any act o~ neglect o( Mortgagor- to punhaye such insuranrr palicirs fmm a good and respo r?~ible ' i~surance company aixeptable to Mort~ gagee tor th~ tull i~curable value ot the mortgeged property; and to deliver all ! ~ ,urh poticies and rrnewals therro( to Mortgaaee. In the event any sum of rrwney becoinea payable unde~ auch policies 1 ! lkrauu~ uf 1~ o~ damage to the mortgaged property, such sum shall be applicd either in the recluction of the debt, ! apph-in~ thi~ same to the pavments last due on the debl securecl herebr, or in re~storation o[ the mortgaged property, ' i as \lortgagcr may ~•Irct. It ~1lartgagor RhaU fail to in+ure the mortgeged pro{~erty ns required under the terms o[ this ~ pamgraph, ~~ortgagee may <io so and charge l~iortgaaor aa pn.rided in Paragraph 13 hereof. ~ 5. That 111ortgago~ shail be in detault under this mortga6e upon the hap{~ening o[ any ot the [ollowing evenLs or con- ~ ditions: (a) [ailum or omiasion to pay bet~~rr deli~quency the said note (or any in.•tallment thereof oc interrst there- ; onl or default in the payment or pe~formann~ o[ any obiiga/ion, covenant, agreement or liability contained or re[e~red to herein; ~b? any warranty, rcpresentation or statement ma~le or [ur~ished to Mortgagee tor the pur{N~se o[ inducing `lortgaRee to acrept this mortgage or to rt?ake any e:tetuion o( the obligation4 securecl hereby, by or on behalf of i Aiurtgagor (or any of them, it more t!~an one), pmves to have becn talsc in an~ material respect when made or fur- , nishecl; (cl the institution ot tureclosure proceedings ot another mortgage or trust deed or lien of any kind on the ~ murtgagc~i property ~whather such other mortgage, deed or lien t~e held by Mortgage~: or by a third pa y). Upon the oc- ; currence af any such cletault or at any time thereatter. 1liortgagee may, at the option ot hiortgagee, d~clare the whole ; amount o[ principal and interest pro~ided for in and by the note securecl hereby, and any and all other inclebteciness ancl liabilities securecl here#~v, immrclistely due and payaWe without demand or notice of any kind to any person, and the same lherrupon ahell bea?me immediately due, payable and collectible (by toreclosure or otherwisel at once and without ~otice to 1lfortgagor. 6. To pa~•, in the event of a clr•fault under the terms oi this mortgage or the not~ which it secures, er an~ renewa:s or j • .~:temions therea[, all coats, ezw•n~ and rea=wne~le attorneys' (ee•s incurred in the collection (whether by suit or other- i wic~•? hercr~f, including those casts, e:~nses and reagonable atlarne~•s' fees incurred in appellate proceedings. 7. To keep the mortgagecl propcrty in go«i o~er and mpair and to commit, permit and sutfer neither strip no~ waste - ~?f said pro~?erty. U~wn failure ot Mortgagor to keep said pmperh~ in goocl orcler and repair, 111ortgagee~ may, at the uptiun of htortgagre, prucure the repairs to be made, otherwice restum the premises to g~x?c1 order, and charge A1ort- KaQ~~r with the cY~sts an~! ezpen4es incurred thereby, as providcvl in Paragraph 13 hereoC ' ~ K. That in th~ event the murtgagrd property or any part thereof t~e taken under the power of emincnt domain, ~1ort- Rag?r shall havr the right, whether the value of ~lortgageew security he impaired by thP taking or not, to demand and ' I rtreiv. all sums awarcl~~c1 tor the taking o[ or c:.ma~es to said propert~• (including twt not limited to severance and busi- nc5s damagesl up to the aawunt then unpaid on the obligations serured he~eby and lo~appl~ the same upon the pay- ~ meuts la.4t due there~n_ Failure by Aiurtgagor to cause delivery to :~iurlgagee of such sums, a[ter demand by ~tortgagee. f shall co~utitute a de(ault within the meaning of Paragraph 5 hereo[. f ~ 9. That in the event any suit is institutecl upon this mortgage, or tu forecloec or m[orm it, or to enfon.~e payment af ~ ~ any claitng hereuncfer, 1lortgagee shall have the right to the appointment ot a rFCPiver, without notice, of iFie mortga~ed ' propertr, including thr rents, income, pro(its, issues and revenues thereof. Such receiver shall have all the powers in am•w~se ~ ntrustcr! by a court to a recei~•er. Such appoinment shall be made by the rnurt as an admitted equity and ahoolut~ right to Mortgager. and without rn[erence ta lhe adequacy or inadequacy ot the value of the mortgaged property ; ~r to lhe solvrncy or insoherky nf 1~lortgagor or o( the o~her de[endanls, and said rents, protits, income, issues and rPV- enuPS shall be appliecl to the debt secured hereby. ~ 10. As further and adclitionai security tor the performance of thc~ terms and conditic~ns ot this mortgage and it.r the i pa~~ment .~f the note and other obligations which this mortgage secures. :1lortgagor hembp ag~c~s that in case of de- j tautt in am• ot the paymrntc stipulat~l in the said note, and ~ long ac such d~•tault continues, or in the e~•ent Mort- . Kagur tx~ in default under an~• of the pro~~isiuns, covenants and agrc4•ments af this mortgage, :1lortgagee is hereby su- thorised and em{wwerecl, by its servan~~, agents or atturneys, to enter on the• mnrtgagerl property and to colltrt end ` rec.~ivr thr rents and prolits lhere[n~m, and to ap~~ly the same to the payment o( amounts due on thP obligatioas ~ ~Y ure~1 hereb~ : and ior this pur(wse, tiiortgagor hereby as~igns, trans(en and seL4 o~•er to 4lortgagc~r the rents and ~ prufits anruing trom the mortgap,rd properiy during the peri~xl o[ s~nh default. Tlx~ e:ercise of rights under this para- ~ ~ Kraph shall nrither ~m{~air ~ur cor~stitute a waiver ot any other riqhts or r.~meciees which ~iortgagcr may havp under ! thr term~c ut this murtgaRe or othrrwise, but the reme~iy hereM• gi~•en shali tx~ in additinn t~~ othPr.s which ~tortgagEr ma~• hav~. Rental paymrnLR made pursuant lo the prov~wions ot ti~is paragraph by a I~~ssee a( the mortgaged property ~ ~ to ~lortqagt~e shall tully acquit the lesscr to the extent ot the pa~me•nt4 u? made. ; ~ That thr ratp of interest and time ~?t paymrnt ~,t this m~:rtgaRe an~1 thr not~• sccurevi herab~• may t?e mc::ned or e:- . ~ trnd~yi w•ithuut not~ce fmm ume tu time (or any E~eri«i Iwh~~h.•r or not IonKer th~n the ~~rig~nal {xriod of said not~•1 ' M• mutual ag~e~c•m~ot of th~ hold~•r hrreuf w~th thp t}n•n ownrr u( thP mortgag~yl pmperh•, and all partie~ ha~•ing lia- ~ b~lih, either prtman• or .rcronda~y, undrr said nntr n~vrnant and aRn•e that ne suc:~ m~wliticatiuru or ~:tensiuns shall - o~~eratr to rrlraai• the {~•rwmal uM~gation uf any of the~m a~ mortKaRors, maken, guarantnrs or ~•ndor.u~n. Atc~rtgagur ~ (and E•ach uf thrm, if more than onrl turlht~r aRrc~e+ that no .caivrr by :~lortgaK~r o( ar:y default shal) o{~erate as a ~ wan~rr ~ii am~ nther rirtault or u( th~ same dt~fault i,n a future un~a~ion: that the rxrhang~, mlrsw•, surn ndNr ur salP ~ ut all ~~r any rral pru{~rty or collateral whirh may he Rivcn ur may have been Ri••en t~. .n-un~ the repavmrnt ot th~ ; n~~tr and ~~thrr obGKatiun+ Recumd hrrr#n• ahalr :wtLrlease or dircharKe• any \lortgagor ur oth~~r party I~ab~e hereun~ier. ar.~f tha: thN rel~•a,c~ ~~f any M.rrLRagor os-ulh~r party liabl~ u{«rn or in rra~?ect ~d th~s mortRage or th~• n~.te and ~ ~~thrr obliKat~un~ srcum~l hrrebp shall n.~t rel~•a.w ar?y other vuch party ur 1~1orlgaFor. - ~ ~ 12 To pay immfrliat~lq all c~ratx. r:~?~nse~ an~l r.•aw~nablr atlorneys' t~es iru-urreYl IwhPther in legal pmcc~criinRs ; ' ~~r uth:°rw-~w•? M~ ~1ortRag~-+• lincluding thox costs. ~x{reaa~+ and rf~a~+~nablP att~~rn.•~~.s' S~~ea ~rk-urrrtl :n ap{k~llate pm- ; ~ ~~r~Yl~nRcl by n•a.r.,n nt thP atwrtiun ~,r ~n~~titut~on b~ anv p~rw~n other than ~tortg~t•r o( any cleim, dPmand, action or ~ pnw•~ti~LnK cuncrrninK ~~r affrct~nR fhr murtRageY1 pro~n•rty or the lie•n rn•ate~l h~n~t?y. If ~tortRagor shall !wi! to pav th~ sum.+ rt ywrert b~~ this paragraph to Ix• paul. M~~rtgagtr :nay pay th. ~cam.• a~d charge ~lortgaRor as pruv~d~v1 in ~'ara- ; Rra~?i, 13 hPrcr.f ' : t f i ~ ~ 13 That .t ~1~~rtKaKor ~ir(aull+~ ~n any u( th~• c~w~nants or aKnrm~•nLw ronta~nrd hrr~in ~r ~n uud nutt•, ~1ortRaFre mr~~ p•r(~~rm thr xam~• nr pn.cum th~•ir ~ff~rtormarx•P w~thout waiving or affr.~t~nR th~• nption to (oreclo~ ~?r am- right hen-• un~lrr, an.l all ~?aymi~n4a and ~•Y{Mnd~tures I~rx-Iud~nR r~as~~nabl~ aUorne•yi (iv~~ u+ her~~n pm~•i~k•dl madr n~• ~turt- KaR~•~• in s~~ du~nK shall h~~ charRiyl Murtga~cor, xhell F~-~rm~ imm~tiliatrly du~ an~l ra>~abl~. +hall t.rar ~nt~•n•at at Ih~~ ratr nt G•n IIU^;,1 ~N•r ~•~•nt ~?e•? annum an~l. tuKrthrr with inhv.~t nn~l c~~~ta nccrui•.~ thcrrun, shall ~x• ad~1~v1 tu and ' fw~-umr {?ar~ uf thr uhligabuns wh~ch this murlgagP aecunn. ~a . ~ t Y ~ i ~ d~,~K ~ ° 194 61~ _ ~ ~ _ . ; _ - . : _ - , - . ~ y - , "