HomeMy WebLinkAbout0280 T~~4eQu-r ~+i:l~ aU st~u.tur~s a:r~ ini;;ro.::.~n;c n.nv or h~•:~.if:cr c~n s.ti:1 ~rut1crty aud thr fixture~
atc:ichc~l thrrrw, ui.! al! and cir..;ul.~r tl:c t~•n~ u,~~ut., hrrc:lit.~uicnt, :~:.d ap~~urt~•n inccs t!icu untu b<•tunsiug o~ in
an~'H•i,e .~F~i,~•rt.~:nin., and dic rrutc, i~tur; .1:i~j p~~.:it; ti~rtci~(, anil .:I,o all thr c~tatc, tight, titlr, i~st~rrst, tl.?im
~Ra a~~~~.,t~a ~~h.itsu~~~~-r, as ~~rll in L~N• as in cy+i;t~• oI tlie: ~1or~.;~:;~~r irt ~nd to tlic s.~iuc.
(:~!1 of thc f.uc~uinq a.;:cthcr con:ic:'r,; ~::~:t~~!~ uf rr.i! prc•,:crt~•, or cntircly uf chittcls, or oI both
rcal propctt~• astd rhs:tr:s, is hrn iu.~(tcr for c~~:t~ ~ t~i~•:~, r call~'c: thr ••inoctg.~~c.1 pro~~erty"•)
TO 1I:1~'E :~\U 10 1WI.U the s:ii~! mor:~.iti..l pruperty uuto tkic \i~,r;~.i~c~, in fer simple.
A\D ~lUR1~G:~GOR d~~ec hcrcb~• fuily ..~.~rr.~:,~ tt~~ tit,e to t}ic siid cnnrtg.icrd propcrty and will dcfcnd the samc against
the la~ful c!.~ims of ~ll pcrso:is ~.:io::isoc~cr.
A\'D ~fOR1~C:IGOR Eurt}ier cocrn.~nts ~.~ith titurty.tti~e .~s fu!1~~..s:
1. To pay when duc all sums procided in said protaess~ry notc and any ~e~ewal, ectcnsion or mod'Jication th~rcof, and in
this mortgage.
2. To p.?y ~+~hen du~, .1 witho;:t reyuirin~ any notice tro:ii ~tortga~ all taxcs, assessmrnts of any type or n..tw and
other eharg~s !r~ i~•d or ascesceci ag~inst the mort~a~;••d pr.~;:ertq hrretn' ~ncurr.L:~red, or sny interest oi \tortgagee thercin, and pro-
duce receipu therefor upun decna:~d. "1'o itu~r.rdi:itrly p,i~~ an:! dic~lisrgr any claim, lien or encumbrance aSainst tli~ n:ort~iSed
p[O*~Cfi}' KIIICII rniy be ~r bc~o~ur suprri.r to thii n:•~rtc.lgc (unlcss hcrcin abo~~r spc~iEicalty CXCCE)IfCl~ dR(~ l0 pcrruit no dr[auit
or d^Iitiqutncy ou any othrr licn, encu?ubran.•c or rha:~c a5ais~st the mortc:~Scd propcrty.
3. To pay a~l taaes, st:unp tas, or o~lier chi~tie ~.hich m:?}• t~e ac.essed upon this mortgage~ or said note, or indebtedness se-
tured FPrebp. Mitho;:t regird to anp !r.v, Fc~~•rat or S:a'e, h•:r:~,'~~::• er herr.if!er u:acicd, im}~sing pay-fnent o! ali or arw part
thereoE u~en ~tort~;lSee. In e~•rnt o~ c::lctr.:ent of an~• la~v irnFwsing pa}•tncnt of all or any portwn of an~• such t:~YCS uEx,n ~tott-
gagr~, or the nadering by an~ court o( last res~~rt of a de.:siosi that the un~iertaking b}• \tortgagur, as hercin pro~•idrd, to pay
such taxor ca~~s is irgall}• inopera:ice, th~-n, unle~s ~torttiigor r.i•.rrthrlrss piy~s such tax~•s, all su~iis hereby secured, w•ithout any
deduction, shall at the optian of \fortgagee F1°iUI11C i::u::rdia'e?}• dur and payablr, notwithstanding an~thing eontained herein oe
aay la.s h^retoforr or hereafter enacted.
4. To ke~p the mortgiged propertv insurrd agai::st lo~c or datn_?ge by fir~, and such other hyards in [orm and amounts,
and for such p-riuds~ as may br reqwred b}• the \ic~:tc3~tee, and to p.iy promptlp M~hcn due all premiums on such insurane~-. All
insurance sF.all be c~rri~d in co:npanies appro~-~d bg the ~tortgs~ce and the policirs and itpt~Y3I5 thercof shall be held by the
I?iortgage~, and sh~'.i ha.~~ attic?icd thereto lo>s pi}•abl~ clausec in f~cor of, and in a form acctptaF,le to the Alortgag~e. ]n the
e~xnt of loss, the \tortglgor sha'.1 gi~•e i:~~:nediatc notnce to tt:c \tor:~: cce, and the ~tortgagee may make proof of loss if not
promptly made by \Iortgagor. Each ir.suranre comp ~nv concernrd is hPreb}• authorized and directed to make payment for such
loss direcdy to the \fortg.igf~ instead ef tu the ~fo:t,SsGor and the ~fozt5.:g~e joindy. The ~tortgagte may, at its option apply the
insurance proceeds, or any pirt therrof, ~ith~r to tt;e rr~uct;on of e~:e ~nd~b:rdn~ss h~rcl>y secured, or to the restoration or repair
of the mortgagcd pmperty. L~pon fore:!o,ure of tk~is tc.ort.;a~r, or ethcr acqui;ition of thc mortg~gcd pro~urty, or any part there-
of, by tl:e \lortgagce, said puiici~s sh;t! btcorr.~ the ab~olute property oE thP \for.Gagce.
S. To (irst ob:ain :hr ~crittrn cons--ez! of \1or:gage~, sunc ~~nsrnt to br granted or withheld at the sole discretion of such
1?~,.r.o,~... }..~f.... r~mrn-~nv nr d.~n~~lichinQ am• buildine r.ow or herr~fter erect~d on the mortqa~ed prop~:ty, (b} altering
t~e arrangemcnt, design or st:i:cti:z~l chirle:~C IF:ffCO~. or (cl mi~ing any repii*s w•hich im•olce th~ remocal of structural paru
M or the exFn~sure oE :he intcrioz of such bu:lding to the e!cments.
i 6. To maintain the morigzced pro, ert}• ~n good conditivn and r~piir, including but not limited to the making of such re-
~ pairs as ~tortgagee may frum time to time determine to b~ necesslry for th~ presen-iuon of th~ s~me; to commit, suffer or permit
E no waste therrof.
7. To comply with al! ls~.-s, ordinznces, regutations, co~~enants, conditions and restrictio:u affecting the mortgaged property
; and not to suffer or pennit an.- cio!ation thereof.
[ 8. If Lhe ~1or:glgor Eai:s to pay any claim, lien, or encumbrance which is superior to or in puity with this mortgage, or to
~ pay when due, any tsx oz ass~scr.ient or insurante premium, or to kecp the pretnius in repair, or shall eommit, suf[er or pcrmit
waste, or if thue be comn;ence3 ang actioa at law or equsty or any proceeding affect,ng the mortgaged property or the tide
thercto, thc \fortgagee, at its option, m:+y pay said claim, lien, encurnbrance, ~ix, assessment or premium, may make such repain
and take such steps as it d~erns ad~•isable to pr«-en! or ture ~uch waste, and may appear in any such attion or proceeding and
retain counsel therein, and take such action as the ~tortgagee deenu ad~~isable, and for any of sa~d purposes, the ~lortgagee may
advance such sum~ of.mon~y, including a!1 cosu, reasoaible attorn~yi fees and other items of expense as it deems necessary_
1\othing herein coataincd shall be construed as requiring the ~fortgagee to ad~•ance monies for any of the purposes aforesaid, and
the ad~-ance of such moni~s for such purposes shal. in no wise ~.ai~•e or affect th~ Tiortgagee's nght of (oreclosure or any other
~ right or remcdy hereund~r.
" 9. I?fort~agor wi11 pay to ~tortgage~, immtdiatelp and without d^mznd, all sunu of money advanced by ~iortgagee pursuant
Lo this mortgage, mc!udinc a?t cotu, reasonable attorn~~'s feas and othr_r items of eaF~ense, together with mterest on esch such
~ ad~•ancem~nt at the rate of t~n per cent !!0`i'c) per annum, and atl such stsms and interest thereon shall be secured hereby.
10. In the e~•ene any of the mortgi,~d property consists of chlttr?~, the ~lortgigor shall keep such thattels, and any re-
aewals, reple, ishmrnu or rep!ace:arnu th-reof on the premues ~.•here they are now locat~d and shatl not temove any portion
~ t!?ereof without the ~fortgasee's consent_
11. To furth~r s?cure the payznent of the indebt~dness hPrcinabo~•e descritxd, and the p~rform~nce of all other eo~enantt
eontained in this mortgage, tt,e ~fortgagor hercby assigns, transfers and sets ocer to the ~fortgag~c:
~ (a) My and all judgmenu, a..ards ef d~mages and scttiements hereaftcr made, resulting from eondemnation proceed-
~ ings or the Liking of the rr.orts~3ed proE~-rty, or any plrt thercof, under poN-cr of eminent domlin, or for any damage (whether
raLLted by wch t~'~cins or othen.:se~ to the mor:g~ced prop•-rty or the impro~•ements thereon or any part thereof, or ro any rights
= appurt~nint th~re:o, ~ncluding any awa-d for cF.ia4e of grade of strrPb. ~tortgagee may apply all of such sums, or any part there-
~ of, to the paym~nt of i~s cu.!, e~pra.~s and attome~'s Ices, and on the indebt.~ur.ecs secured h~reby in such n~nner as ~lortgagte
eleets, or, at iu o~ tion th~ ent:rr .,mosr.! or any p:~rt ther~of so recci~:ed m~q Ue re!etsed.
~r (b) Ali r~nts, i=~ues ar.d prof:'c of said mortgsg~c~ prc~l~erty Irorn tin,e to t:r.:e aceruin¢, ~.~hether under leases or tenan-
ties, now e~istirg or hereaftcr cr~ited, and the 1for:ga¢ce shall, upon any dc:ault of the ~tortga¢or hereunder, ha~~c the risht at
ies e~uon to rccci~•~ and fPCPtIIL t}l~r~for and to aoply the same as it m~y etect to any indebtedness secured hcreby. In the ecent
the lortsag~r shou!d assign t~e zenu, usues, and profiu, or any part th~reof ro any person other thin the ~fortgagee, without
~ f'vst obtaining the consent of i.,e \toctgasee, then the entire principz! sum >rcured hereby shaU, at the option of the ~tottgagee
become im.:r.ediate;y due and pa}~abl~.
_ 12. IE detault be made ~n pcrformance of any of lfortgaGor'~ obligttions, co~•enlnts or agreements hereunder all of the in-
debtedness secured h~rebp shalt beco:nt ar.d be imrr:ediitely d~.u and pay~bie, at the optinn of the ~fortgag~e, without notice or
~ demtnd which are her~by expressh• wai.~ed, in which r ~nt, \tortqar^e may acail itsclf oE all rights and remedi~s at law or in
equity, ar.d thi~ mortga5e may be for~closed, ar,d ~tortg~gor ~?;aii pay ali custs, and e~penses th~revf, inciuding the cost of secur-
= mg abstraca or oth~: evid~r.ce ot the stat~s of tit'e to mortgased pro~rty, and reazonahle ~ttorncyi fccs.
;-3 13. If defiult be mad- in p~rformance of any of ~to:tgt~ur's obligauens, coven~nts or agreemenu hereunder. (a) 111ort-
~-r aagee u authorized at any time, without notict, in its sale discretion to enter upon and t~fce po>+rssion of the premues or any
Part thercoE, to perform anp acts ~io:tSagee deetns necess3ry or proper to concen•~ the security and to tollect and receive all renU.
usues and profit~ thereof, includir.g those past due as well ae those accru:ng thereafter, and (b) :~fortgagee shall be entitled~ as
a matter of ~trict right and v.ithout regard to the ~•ilue or adequzcy of the security, or sol~•ency of :~tortgagor, to hace a rece~~•er
sppointed to enter upon and tike possession of the premi~~~, co:Iect the re~ts and profit~ therefrom and apply the same a~ the
' tourt may direct, ~vch rccei~-er to haa•e all the rigFts and po~+ers permitted by law.
m
In either such ease ~tortgaqee or the recei~•er may al~o Lzke poesession of, and for these purposes use, any and all personal '
' ptoperty contsined in the premise~ and used by ~tortsagor in the rcntal or Ieasing thereof, or any put thereof. The expense (in-
duding recei~•ei ~ fees, attorneyi (ee~, eosu and agent'~ compensttion) incurred punuant to the powen herein eontained sh:?ll be
acured hereby. ~tortgaqee shall (after payment of a(I costs and exp~nses incurred) apply euch renb, is~ues and profit~ received -
by it on the ind;btedr.es> >ecured hereby in such order ae ~tortGagte dete~tnin~~. 'The r~ght to enter and ~ike possession of ~aid
pro~erty, to m-+na3e and operate the sanu, and to coflect the renn, issue~ and profits thereof, whether by a rrcen•er or otherwise.
~hal1 br ct~mulati~~e to any ocher right or remedy hereunder or affo:ded by law, and may be ex~rci~~d concurrendy therewith or
independ~nt)y th~reof. ~iott3aqee s!~al! be liab!e to account only (or such rents, u~ues and profiu actutlly recci~•ed by ~iortgagee.
14. tio d~lay by ~fort,;ag~e in ex~rcising any right or rcmedy hereunder, or oth~rwue aflorded by law, shall operate as a
wai~-er th~reof or preclude th- exercu- thertof during the eontinu~nce of any detault hereunder. No wuver by rtortgagee of any
default shatl constitute a wai.•er of, or eon~ent to subiequrnt defauft~.
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