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HomeMy WebLinkAbout0130 7. 1} ~ny o) lh• ~.~mf of mcn~Y Mr~in r~Far~d ~o b~ ro~ pro~nptly snd /ully paid w~~A~~ th,ity ;70! d~y~ r.~,~ •fe~r ~h~ L~m~ »~~r~lly b~cony dl~ •nd p~r~b:~. p i1 •~cA ~nd •wry tM ~t~pul~~~on~. ~pNm~nt~. cond~~aes. ~nd cown~nn o/ t~~d Drom~~tory nor~ •nd ~hn ma~qap~. w e,~1+~.. u• noi d.ly p~.l~+m~d. co~.~pi~td w~th and •D~d~d by. M~ •~~W4 fvm m~a~,on~d m~~~d p.om~~twY no~~ afyll b~cw.v dw ~nd Wr~LI• fo~t~w~iA a ~h~~~~l~p ~t rly op~.on o/ tA~ NbnpapN. I~uy ~nd comot~qty if fa~d •ppr~Q~q ~um ot mon~y v`~s o~~q~n~lly p~pyll~~d ?o M p+~d on u,cA daY. •ny~hmp m ~~~d pow~h~wy noq o~ hu~~n lo tM (plltl~ry IWM~I~fIMd~nQ. ~ 8. lo del~.er to s~id Morrq~~~. on a A~for• MarcA 15~A ol ~ach ~ear, ba r~c~~ph e~~d~nunq tM oav~n~ o( •11 I~wf~lly nnpos~d U.« }a ~b O~~c~d~nq ~ c~4nd~r y~~i. to d~livN b uid Mwtq~pN. ruapb tv~Mnc~nq ~h~ .D~Ym~N of •11 h~nf (w DvOLc ~mpownynts W~th~n n~nsry (VOl d~y~ sl~« fA~ s~m~ ~MII EKO~m dw u+d p~y~Dt~. ~nd ~o paY « d~a~+.p~ wiM~n n~rH~y 190; d~vs •h~r dw d~t~. ~ny •nd ~U pov~.mm~n~d Iw~~~ eMr m~y b~ m~d~ on M~ mo.~Q~q~d prowrnr. on ~h~~ monpp~ a no~~. a in sny orMr w~Y r~iulnnp Aom ~be µ«~ww ind~~t~dn~if +~cv~~d ~y tAf~ ,.,o.~qaq~: ~nd il M~~ co~d~noe b~ no~ eoenp6ed wnA •nd ps~- fwn»~l. uid ~nor~p~yN may wr ~u/n a wms wA~cA shall ~ecom~ p~n of tM Mbt ~ttured by th~~ mprq~p~. ~nd ~MII btp int~r~s1 H tA~ .~r~ ot si¦ p~. c~M. f6%.) pK w+nuni, p~r~b4 ~~Th1~1MJIIy un~il pald w~~ib Mor~papN m~Y •I~d ~~~d mo~~q~q~ debt ~M~wpoe b~com~ dw ~nd D~r~~l~ 1w~Aw~tA. 9. It is tur~M• co+~nani~d ~nd ~qrNd bv u~d par~~es ~h~~ ~n ~hs •v~n~ of ~ ~olt M~ny ~n~~.~ue~d w(w~cios~ ?A~~ mwtq~q~. rM Mw~p~q~e ~~~tl b~ •nNtl~d ~o ~pply ~nY nen~ p~nd.rp avcA faeciaw• s~i~ to ?M co~rt Mv~np iu.~~dicnon ~Mrwf for ~M ~ppo~mn,~m ol • r~c~iver o/ ~11 ~nd ~~no.,l~r tM monp~qed pop~~ry. •nd o/ dl ~M r~nh. incom~f. pohes. iuu„ ~nd rev~n~~s fha~ol. 1ro.n wA~~w~wr ~w~ce da~ved: ~~d tMr~upo~ if A~~~by •.pra~ly cov~n~n~ed ~nd p~wd tAat tM cow~ ahall fwMw~~A sppo~et ~ r~c~~wr of s~id ma~q~ped Drope~tv. +11 ~nd ~mq„~~.. ~nd ol iuch rr,e~. lncan~~. wufit~. i~w~s end r~wnw tMr~o/. fran wM~to~vp ~owc~ dNiveA. with fM u~wl powaf ~nd dut~n of ~ecawn in Lb u~e+: ~nd ~~ch aPpo ntm~ro ~h~tl M mad~ Eq u,ch cov~~ ~s • m~n~. of ur~ct nqAl ro tM Monp~qM. ih ~~cce»a~. I~oal r~~s~nrati~„ a n~~qn~. ~nd withua I~~N~M~ ~o ~M •dpuxy or inad~Qu~cY of ~M v~Iw of ~M w~h ~erebr m«tqaq~d. « ro ~M ?otv~ncy a inaolvencv of ~M Ma~~pw. ~od ~A~~ ~vch ren~. proflb, iaco~. ~~su~~ snd r~.~n~e~ aM~l b~ ~ppl~~d by ~~tA rec~~v~r to M~ wrmrro of M~ Tonqaq~ indebt~dn~ss. coah ~nd cMrp~s. ~cc«d~np ro th~ orda o/ ~uh cov~t. ` i a 10. If ~ co.~wyu~c~ sMo~ld E~ mad~ ~y tlr Maeqpw of ~M Wem~~N MrNn deunDed, a~ny w~~ tMrwf. w.Mov~ ~M wrin~n cons~ni of rh~ M1ar~p~q», ~nd ~ w~Mou~ •~~wro~~w+ in rp~,la far of I~w by ~M p~sntN ot ~M oD1~pN~on fo ~h• Marq~qe~ cr~~qd by uid wan~fwrY noe~ ~nd Mi~ ~~p~y~. N+en. ~~d in tMf ~v~nr. ~nd eM opeion of ?M Mw?pape~. ~nd w~tAaW notic~. ~0 wms of mon~Y ~~c~r~d Aereby sMll Im~l~~t~y ~d concurr~ntly w~~A s~cA coovey~.x~ bscon+~ dw and p~YaEl~ ~nd in d~l~ull. ~ 11. Tf+a~ in ?h~ evee~t tM pr~m~~~~ hNeay nwnQaq~d, a~ny part IAN~OI, ~Mlt M condenx+~d ~nd ~s?~n !w puElic us~ w+der rM powN of ~min~nt dan~~n, ~ tM Mortp~qN thall A~w N+~ r~qAt ~o d~vund MN ~tl d~m~q~s •w~rd~d fu ~M nklrq ot o~ da~.ug~~ ra s~~d pr~m~s„ ahdl b~ w~d ?o Me Mo.~p~p» ~p ro t!r ~movr.t eMn unp~~d on r~~a mw+p~p~ ~nd H eM opr~on of ~M Mor~oaqN rr.~y b~ ~ppt, i upon ~M wr~n» t~~~ pay~W~ tM.~on. - 1Y. TM ~nwtqapor ~~nds h~.n~els not w~nct or p~rmir to M ~r~c~~d ~ny n~w bu~td~nos on +M a~~s.~ M.~~n ewrtpaqed a ro ~dd ro w per~n~~ ~o D~ •dded ~ ro~ny of tM •~nt~nq ~r.~rov~m~nrs tAerwn w er.ake ~ny cMnqh w•lter~t~ons in ~i~d ~mp.ov~.rHnA wh~cA mafM~~lly cfw+p~ eM s~mt w~M us~ r!+K~of, w~tAout t tM wrin~n ca+sa+~ ol tM Mort9~qe~. and in M~ event of sny v~ol~non a an~mp~ ro v~ot~q Mn ~npulpim Mi~ mortp~q~ and •II wm~ secured Mr~by sh~ll hn- ~d~~fety b~com~ dw ~nd col~~cnbf~ a~ tM option ot ~M MortyaqN. f 1~. 1~ i~ ~p~uhully ~9rNd rM~ t~a,~ is o1 ~M ~uM+c~ of ~h~s comrac~ ~nd fMt no w~~~er of any obl~qahoe Mrwnd~r or of tM obl~ysbon f~cured her~Dy a~~ll ~e any ~ tien~ D~ l+dA to b~ • w~~ver ol t1+~ ?wms her~u! a o1 tM ~mt.um~ne ~ecvr~~ A~~~by. S ~ 11. tl laeciwurs prae~d~np~ of ~ny a~cond morrp~q~ a ~~cond rru~t dMd or •ny ~Vmq ~~eo of ~ny k~nd alewld M~n~rnu»a. +h~ Mo.rqase• m~r. ~~s opnc.~, ~ ~m+n~d~~~~ly or eMrufrp dec4~• e~~s na~tQ~q~ •nd tM ~nd~bbdno~~ ~ec~red Mr~~v dw ~nd var~~l• ta~nwiM. ~nd maY ~t ib op+~on p-a~*d Io fweclcs~ ~h~? mwtp~q~. ~ 1 ~ 1S. 1o fM eaeem of tM indeD~edn~a of ~he Mwfpayw eo ~M Mo~tp~qe~ d~sa~bed ~~•~~n a secur~d Mreby rl.~ Mafpape~ ~s A~~eEr ubroq~~ed ro rhe Len o. ~ i~en~ md to tM r~qhb of ?M own~n ~nd holders thereof o~ ~xA •nd ~ve.y mortq~qe I;en or o~hrr ~ncwnE+anc~ on tA~ I~nd dtxr~ped Aer~in wh~ch i~ p~id and/w ~ ash~l~~d in wAol~ w in part out of ~hs poceeds of ~he loan deau~bed he.~~n w ~u..red M~ebr. a~d tM .especnve I:ens o( s~id rrw~tq~qt~. Lem a o~Aer ~nc~•~„br~nces ` sMll M and Nw_ sur.• ~nd ~xh of tAem AaeDy n peserved and ~h~ll pus ~o and b~ Ae~d Dy th~ Nbrrq~qe~ her~in a~ ttcvnty fd tM ~nd~~t~dneu to M~ Mw~qaqa+ Ae»en dtsu~b~d or Ae.eby fec~red. to Mt a~me e.trnr rha~ ~R wo~td Aave been p.eser~~d a~d wwld have been p~ssei ro ~nd been Mld Gy ~M Matp~ye~ h~d ~t ~een ~ dvly and rpvbrly ai~~prNd, transfpree. s~t ovtr •nd dtl~wred ..n~o th• Mortyaqee ~Y s~par~~e d~~A of ps~qnm~nt notw~tAstand~nq ~A~ (~c~ ~h~~ th~ arn~ m~Y be s sst~s~~ed and unulled of ~~cad brnq Me ~me.~f~on of th~ Part~es hertro tM~ rhe a~rrw w~lt M s~u~l~ed ~nd ca~c~lled of r~cord by 'he holders tMreof ~t a aba:r ~ rh~ t1r.~ of tA~ recad~nq of ~h~s ~nor~yap~. ~ ~ ~ ~d. ! ~ey e'' i^d s~^y.!d~ rre c.,sr~ i^j•ye1 an3 e.pense~ ^c'_O~~y ~1~.~.e.. }ee5 .esso~,lO'Y •n~~..red O/ Da•d !r ar.y r mt t. "'e MJ'1~aJet Deca~_te i`/ Mt ) 'i Jf h A.Jri e C• !J Ol~f^rm. CO^'V~• Y l1Cn !rd 1~ ~ ~ t y.j w.rn d~d dt.d! D y )'.1~.'id•.Gr) ayrftmt^1S (~n0~!~<'nf. •nA cOrln~n~t J1 f! O yrJm~~1J~V a••d •^,1 ~ .~eN u• e.rre~ a^d e.er~ ~..c~ a+rrenr~ sha'~ bee. .nreref~ f~em daee ar eFe •art o~o..deC m sa.d cror^.sfo.y nore ~ 17. When any Mnovnt of mon~Y ~o M p~id ~Y M» Mwtp~qw to tM Mwty~pN vnd~r Me tfrmf !».eof sMll b~ in d~f~ulr, « s?+ould th~ Mo.~q~yw d~fault ~r •r+y of fh• oeMr ferms. D~ovn~om a cand~r~ona ot ~h~s Mor!9~pe, th~n ~nd ~n fha~ us~ rhe Mo.~Q~qe~ eAal~ hav~ fM npht. .r~~houi no~~ce ro tM Mpny~qpr. ro ~j colie~t and rece~w /rom any ttnsnt p I~sae~ of s~id mw~4ay~d pr~nn~ts IM renrf, nsues •nd p.o(,rs of tM rwl pr~q Aer~Dy mwey~y~ and tM ~mp.o~emen+~ i~ rhercon. and to p~vt pop~r fKfl01) uid xa~~n~nces fherefw. ~nd aftN p~nnp ~tl comm~~s•on~ of ~ny r~n~~l ~q~nt colkctinq M~ aa~.+e, and any re~~on~Ole a+iorneY'i _ 3 f~es and o~h~. flKfltify •¦penfn incwrtd ~n collect~ny s~nK, to •pply tht p~oceed~ o~ sccA coltece•ons upon any mdebtedn~fL obhpanan w L~b~~~t~, ot ~bt _ 3,~ Morrflaqor h~~eun6er. TM nphl q~anetd ~he Mor~y~y~e under M~s p~r~qr~pA shall be m add~~:oo ro. ~nd shall nol I~mit w restnct. iny oMer r.9l+t w~~phts p.~med ~ rh• MatpaqN ~n thi~ Mptq~p~. . 18. If ihe Morrpaqwf ar tM t~m~ of mak~np ~D~s Morrqaqe w wbs~o~+N+t thcr~ro taks o~~t 4!e mwranc~ d~s~qn~hnej tM Mwtqaqea At.e~n as berelKiny v~nh ~ company approved br the Mortq~q„ w ~ss~yns poLu~~ to th~ Nbr~~~qN tw Ih• p.upo~e o! sec~nnq eM morrq~pe ~{oae hsreDv secured, then tl+~ Mwtqayee s1+~i1 ~~Y h~ve ~he r,q~l to pav ~ny p~rm~um ~ccrum9 ~nder sud po~~ues. •nd •tl sum~ so eapended a~~~l be addsd ro ~nd 6~com~ • pu~ of tM wc„c~p,~ ~ndebted.eea secu~e6 ~ Sy rh~s hlwryiq~ and ?h~ll se P~~d by Me Marty~9o. ro rh• Nbrt9ap~e ~n twelw eO~~el consK~Lr! monM+y ~nstrllme~tt. ~M firsr monMly ms4~lmene ro bt Dod a~ a t ~ G~rt o4 end m adc:t~on to tM rnc~ihlY pav~M du• under M~~ Mor~qa5„ ~n M~ finr u!end~r mon~h fo:low~n9 tM •ipendinp of ta~d fvm Such ~vma so e.pended ` ro ~ee. .nteresf a~ ~M .~re wh~ch ~nteres~ is paYabb ~~w+ ss~d p~~ncipal ~ndebfsJneu ~nd rM I~en o1 M~~ Mortq~y~ sha{I eat~nd fo ~nd ~ewr~ tM fumf ~o eaptnded _ ~ogcr~er w~tA ~nttrq? ~Mreon ~s her~~nbe4a• w~v~d~d. } ~~t 19. TAot roqe?I~r w~~b ond ~n oddir:on ro the monrhlr parrnent o( priocipd ond ~ntereat poyoble vnder the Nrna o( the note secured hereby, Morrgogor sholl por ro Mortyoqse eoch w~w~th ~ntil soid no~~ is fullr poid, o~e hvelfrl~ ~1 1p) of o surn ~qvol ro?he o~nvol p~tiw~~~ due !or fire, eatended coreroge. ' ond oMer hotard insuronc~ corering fl~e nwrtgo9~d properry, plu~ faae~ ond a~usune~h ~eat dw on tAe nqrtyop~d prop~rfp (oll of estiu~oted by Mort9°9«) _ !ezs all susn olreody poid tbe~eFor, ond ~o be dirided by the number ol Tomh~ W elops~ prior ro tM do?e ~rhtn sucM loies and ossess~wtMS sAoll becon~e deGnqwnf. Soid s~~s sholl be bdd bp Mort9oyee in trysf or crediled to ?ke principol 01 the loon, to poy wid imuronc~, roies, ond osussw~t~fi and sl~oll =t be opplied on the porw~nt tMreof wMn dw. Anr •xceis A~Id ~n trv~t br Mo~t9ogee when w~d loow i~ poid iw /r!1 sholl be poid ro Mortpoyo~. or h~s ostiynf, or pe~wnol rep~esenroti~es. In the t~ent ol a defoult or foreclowre. soid suma 6eld in ~rust wwy bt opplied on owy cosh ol de~woges suiro~ntd ie connection •~th ffi~ coll~ction of the eole sec~.ed Ae.ebr whether br wit, forcdowre, or otherw~ix. Nb~tyopee wwy fro~ tiwe ro ti/we o? ib opt:on v.o~.e. and ofte~ ony such ..oire~. ~einstote onr or oll pro~ivoes Aereof requ~.~ng ~ucA depo~~ta. br no?Ke to Mort9oqor in ~rriti~y WMI• anr auch va~,er is ~o effe~t, Mortyopor sholl par 1a:es, osus~menh ond ~nwronte pren+~ums es Aere~n dsewhe.e prnnded "=x - IN WI'.NESS W.~E[EOP, tM iud Morryaflor k~rn,~to ~~b Aif hsnd •nd t~d ~h~~ th~ d~~ •nd y~u f~n~ ~bov~ a.~ttM. ; i / - ~ r - / . ~ p'ed, ~~Ned •rd Ce':,.e*ed L~ L~LC ~ ~ • _ ~ f E" LC ~tcAl) ~ - ~'~e nr.ttnce of. . ~ . ~ ` s i ~ ~/L!'1 ~C~ ~ ~~C~'Pei (SEAI) ~ ~ . ~ ~ _1.~~ 2 v y~ ~~7- ~ . ~~v ~lL~~ v;:~ ~ _ lt~s :~rc ~~O