HomeMy WebLinkAbout0727 ? To P~~~~~. a~.~~.~ e~ wh~~ we we~4 ewd q wmMO.w ~A• ~~p.o.~~weww o1 all ~~w~~~ ~w o~~e~• el pood ~~poh ond cowd~boe. •wd ~o de p~~~wd
~e d~w~ q~~.d p~~~nN eo~A~w~ tAo~ ~.~I :w on~ ~.oy .w.po.~ or ~.w~ew M• ~~ev..qr el IA~~ iwo~~ooQ• ond vpow d~w~owd oi M~ Mo.iqop~e. ~M A4e~lOoy~r
..M I:nw~~A ~M Mor~ap» ~~~A a~ .n~p~c~.e~ a~~~.l~co~~. c~~~lt.w0 M~ iwo~tpoy~d y~uw~N~ le S~ In• ~1 ~~~~.q~
~ 1~ ~N ~w~ MwO~IN ~M ~~an, e~~~~ti 1~•~s~, hoe+6~a~, ewd osbQouowa wl •.~ry wahrr~ ~w w~d d~a~~Md prop~rryr ~ocA ~wd •nry ~rMw
~w ~w~ pyoeb ecc~~.wo q b~. end a d.~~.•. » ~M Mo~~oyM ~w S~lo~• Me~cA 1~~ ol •o~A ~ser taa ~~c~~ph •.~d~wciwO ~A~ Po~w~~n~ ~1 ~N
k ivlF~ ~wpo~~d ~o~~~ lo~ IA~ P~~~rd.wo cokedor tiwr. 1~ .wd~~dy Hw /Mw~poo~t vpow ih d~wand lo~ 00 eea~~. m?e~~~w~M~ ond cAoro~~ tAo~ ~y M
~~~nwA ~roow ~An ww.s~~ or ~M .wdee~~dw~u s~e~~~d Mr~A~, owd po~d by ~1~~ Morfpope~. .•~Aevt r~pord a e~y br Mr~~o~w• •noa~d or ?~nsy N
~~nott~d i~Po..w9 Oe~~wt ol ~A~ wAol~ M ewy por~ ~A~rpl vpoe M~ lMo~~poON
~ Te \eep ~A• •a.p.o.e~~wh wo.~ •.~~~.wy o. M.eo~~~. e.~a~ed on IM ww~~ouy~d p.op~,h. ond ~Ae p~:pw.eM o~d p~no~oley ~o~~red oy IAi~ wWA.
oea~. :nw~~d wo~ A~ rp~.~ed I.o~w ~„w~ ?o A~ ~b Mo~~9ope~ o9e~w~~ b~~ S~ fin. •~i~edrd co.e~og~ oed w~A aA~r Aoro~d~. cawoh~~~ end ~ew~
~~nO~nu~~ es woy be ..~v~.•d Ay M~ Mo~~yop~e. o~A ~e poy p~owptl~ .rAew d~e oll pr~w.~w~~ for wcA .ns~~ane• All :nwroece ~Aoll b~ in lor~, awd .r:tA
~olve~~ow~. co ~w~~.ont• p~o..uon~. ond o'wo~n~~ M~..loc~ory ~o. owd .mv~onc~ cow~pos~~s oppro.~d by tA~ Mo~~pape~. ond oll po6c~e~ ond uwe~o4 ~Aerwf
.AaN ~ ?.IA 1.~ Y~ww.. ti ~I .?..11 .\~A 1.. wAl~ .Iw.. Iw ..~A Iw ~ a~eAl~ ~w u~ c...? _I:.
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~Aell ~e•e ellu~d M~.~~ e~~owdo~d Ne~ 1'or? Mo.~9~y~~ Cbw~ ..~Mo~~ Coninbu~aw. w~o?ir~ ol) lou or (os~~~ ~wde~ ~~xA poLq pofebl~ ?o ~Ae Moe~yey~~
m.b iwt~re+t ~ey eppeer Iw tM ~.~w~ e1 b+~. ~ocA .nw.o~c• cow~poey ca~cerwed is A~reby outAoria~d ond d~rtcetd ~o 'wak• poy~en~ fo~ svcA loss dir~cHy
le Me Me.~ya4~~ .e~eead pl lo ~A~ lre.~Qa~qnr awd Mv~re~~~ tp~wllp. Owd t?~ :ww~ewt• p~et~~d~, o• owr ~sor1 ~A~reul, ~ar e. erri:~d I,r N.. Me.r4,?g.~
e~ d~ ep~ww ~.~A~r ?a Nr r~drrnow o/ ~A~ .w.ieS~~Aw~~~ Ae.~b~ s~cw~d or ~o ~A~ ~~~bro~iow e. r~poi? el ~Ae prop~ry dowwq~_ w ~iN Morlyoy~~ wey s
p~rwif tAe Mo~~po~o~ rec~:.• ond ~~e ~vcA P~oceed~ .~~Ao~t IAer~sy ~oiv~np w iwpe:~ieq eny ~qu~tp, (iew or r:9M under ond by •~rWt of IA~s wanpo9~.
~ In M• e.twf ol I~f u ph~ncol dow~op• ~e tAe w~o.tgoq~d proper^r, tA~ Monpopor ~holl Qi~~ iww~ed~ut~ not~c~ by iwoil ~o ~Ae MortQopee. ond tAt Mor~ooyN
w~oy ww\~ p?ool of bss :1 not wod~ p.o~p~1~ br ~b~ Mo~~9oyw. In ~•~w~ of fo.«b+w~ ol ~A7~ ww~epoy~ or o~Mr rroe~fer ol ~id~ ~o ~M wyr~yoped Pro~
•rt~ end/w ~¦nnpvaA~we~t of M~ :ede~~edneu uc~red h~reby, oll ~~9At, titl~ owd .nltr~st ol 1Ae Mw~popw iw owd to owy imwoec• pol~cf~s fben in /orc~ sAoll
pos~ Ie 1M Pvrchou~ er O.an?~~ Iw M~ ~.ewt ol obewdonw~eM of IA~ wwrtpoped prepe?qr bp ~At Mor~poOw, oll rip~~, ?iH~ ond ~nqr~tl ol M~ Mo~qoya
iw and to owy iR~ylpw(f POIKMf :n lorce sAoll pau to ~A~ Mw~popN. ?rn~ont b ~he oy«~~n? A~rei~obov ur for~h tAo~ oll loa~ef be ~od• poyobl~
d~r~c~ti ~o ~A~ Mo~~po9ee, ~ht Mw~poyor I~r~Aer oy~eet Ma~ iw fAt evenf oey ~A~ct a drah ~~present:nq i~a~ronce b~~ p~oce~ds i~ ~nod~ poyobt~ ~o Ih~
Morlpopor end Morlyo9ee, rAe Mor~Qoyee ~Aoll Aove tAe ripAl o~ is A~r~by empo~e~ed b ewdorte tAe Mortyopor's wo~~ upow wid cA~c? for «~di~ l0 1b~
eccovet end/or rt~~bv~srweM ~o Me Mor+9opee !o? ~~~ws eap~eded. It is d:~tincflp ~nden~ood ond oqr~ed ?6a~ t6~ lNoregope• sAoll Aov~ ~he ~iqA~ te odop/
R~I~s eed Reyvbno~• ~~M r~}e~ence ~o ~~e p~oc~w~~~, r~newol, e?c. e( Aaaord ins~ranc~, owd ~o omend sucA R~les oad Rty~Mtioe~ /ron~ eiw~~ b fiw~.
i~t Abr+po9o~. h~~ yrontaY~ ond o~s.qes. sAoll b~ Sound br svcA R~les ond Reyulo+ioes ol tA~ Mortyo9~e oi ~Ae~ way ea~tt (row~ tin~e ~o tiTe.
S. To pep oll oed tinpvbr ~M co~ts, eAorp~s ond ~ap~nft~, ~nclydiep o?ro~eer's fe~s and obstroc? cosh, r~ownobly ~ncvrred or po~d o~ owr e~w~ by
~?~t Mor~9o9e~ Secous~ e~ ?A• ioilvre oi ~A~ Mortyopor to p~~orm, cawplp ~rith, oed obidt by eocA ond ~r~ry ?he ~~~pvbtiens, opr~e~wen~s, cond~~ioes,
ond corewonq o( foid Prowiawry no~~ ono ol tA~~ wwrt9oye. or ei~A~r. 1~ odd~tioe, ~hovW ~b~ vol~d~ry or prio~ity of tAis war~yoy~ be con~~sted by litipotioe
o~ otA~r~r~u. ~M Mwtpoyor oyrtes lo poy ro~Ae /NortpepN ~A~ cost e( d~fendi~y ww~ in~ludin9 o r~ownobl~ oltorn~r's /e~
O. TAet it Ihe ~opor feils or re~y~e+ to tA~t ~epoir ond/or insrre •oid pr~s:s~s, or ~o del~.er wch inwranc~ polidn, p~emivnn poid, os Mr~ie
pro.idtd, or ~o poy owd dixAorqe onr ~oaes, osus~u~enef, I~ews, chnrpea, or o~her cosn her~~n oyreed to be poid ond ditickarqed, t6~ nwr~poy~~ ~woy.
o~ h~s w its opt:aw, n.o?~ auch repoin, procvr• s~ch :ns~rance. o~ poy ond discAarye avcA foaaa, asiess~nents, li~ns, cAeryea o~ o~A~r co+fs, end fAof it
~Aoll no~ E~ osl:porory en ~Ae iaon9o9e~ to :wqv~r~ iMa tAe n~cesutp or .oGd~y of s~rcl~ repoin, toaes, esuunKeh; l~ew~. chor~~t or o~he~ costs; tAot
eo~hin~ Aerein con~ained ~hall be comuved es r~q~irinp ehe iwor~9op~~ to odwnct owr waner• ior ony o1 rhe purpose~ ofortsoid: ~I~el fhe i:tre:w-bY_.
thc ~aoriyoqee of Ai~ or :t~ option eo od.ance ~woney fw avcA purpos~s aholl in no ria~ woir~ or e~fed his or :fa riyAt o! for~cbs~r• or onr oth~r ripAf ,
e. ~ew~edr Ae.eunder; tAot oll nwners tl.us poid a6o11 dro. imeres~ at fAe hiy6ei~ legol rate, ond, ~ogeMer v.i?h oll ?eawnoble ane~n~y i(ees, coih, charyes,
ob~troc~ ~ee~ ond !~plnslf O~ ~OrK~OfY~! x o~Aer pr«~edieqs sboll be repoid eo t6e mor~yoyee, on denaed, ond sholl btcoine w~uucA oddiAOnol inde~t~dneu
Aere~y sec~red.
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~e •nritl~d Io oPPlp or ewr e~~e p~ndinp ~uih (oreclosur• srit 10 1A~ cevr~ Ao.irp j~risd:ction ~hereof lor t1~e oppoinhwen~ ol o rsceiver of ol) ond tinpulur
tA~ mo+tQoyed proper^r, owd o! oll renTS, ieco~ne, profits, :ss~et o~d r~renves thereof Irom v.Aohoe~er wurce deri~ed; ond ~hereupon ~t if her~by ~apreulp
co.~noMCd ond op.eed tiot ~Ae court sheq forthvr~~i~ appoen~ such rece~~er rriih the Yf1tOI P~Mff{ ond d~~:e~ 01 r~c~~~rn ~n like cos~s; end soid oppoial-
~enl sholl b~ wwde br t?e co~rt os e e~otter of ~~r:ct riyAl to ~A~ Mor~po~te, ond ~itiw~~ reference eo ~h~ odpvocp or inodeq~ocp of ~Ae vol~ of tA~ ~
s
properry Aerebr wwr~yoyed, or ro the wl.encr or iwql~ency o( ths Mor~9oyor• or ony otAer aoeq ddendon~ lo svch svit. The Monqopor 6ereby specifit-
olly wo~~es tM r:yAt to ob~ed ~o ~Ae oppo~mw~en~ of o rrceirer os ofwesoid ond 6ereby eapreulr cons~nts ~ho~ s~cA oppointment ~holl be ~aode as on
odm~ned eqvi~r and os e iwotter ei obsol~ie r:yA~ to ?he Mort9oytt owd tlwt ~Ae w~we nwr be dooe .+~~ho~~ ~orice ~o ~~.e Mortpoyor.
~ 1~ o con.eyonce s6o~~d be mode by ~he Mortyo9or oi ~6e pre,wiu~ F~crein dexribed, or onr porl hereol, ond t6c qroetee no+ned in wch con-
.sronce (oila or reluse~ W ossu~w~ the poYiwent of the obli9ot~on e.idenc~d by soid prow~hsory no~e and sccv~~d br tAh morr9o9~. ead in occordance r?ith
' eheir re~pect~.~ rer~ni, tlKn ond in the~ er~nt, or tA~ option ond vpon tl~~ den~ond of the Mor~yeyee oll s~ms ol wwn~y s:cvre~ I~e.~by sAall imw~tdiafely
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becorwe (w~Aw~th d~e oad peyob~e. In Me erent of o w'e o~ t6~ encvn~bered properryr, or o~Aer tron~fer of t?K title there'o, tAe Mo~~yopee sboll hov~
~Ae r~9ht Io cAor~~ o rwweoble fronsfe~ (ee vl~:ch sAoll be d~e ond poyoblt upon cbsiny ol s~ch sole or ~~onsfer_ 11 not po~d v.Aen due, +A~ MortyopN
iholl Ao.~ ~he riyht to clw~ye soid t~on?!er iee ~o ~he nwrtyoyt occwrM,
''s, 9. In conaiderot~oe of fl~e pre'w~ses. os rell es ~n considero~ion o! tM pa~tii~lr mio~rn~tot:on of ony defic~~ncr judy~nent or decre• ~rA~cA w~ipAf b~
; w+e~ud oqo~mt rl~e Mort9oyor, ~6e Mortgoqw ogrees ~hot ie tAe ev~nt o( d~louh here~nder, ond ~Ae •ocoriny o( tAe inort9~9ed prope.tp, ~6e /Mor+po9~~
~ ~Aoll ho.~ ~Ae ?iyA~, ot its optiow, to enter ~pon tA~ wrortpoped pr~~wises, ond to do oll tMinys deew+ed neceisory br tA~ Mortgaqee ~o proted ond wh-
~ pvard its 4tCV/iht, IMIVdM9. OI Morf9o9te'f optioo. tl~~ ri9h1 to (o~thv~~~h (p.ior ~o /oreclosvre or ocqu~s:KOn o1 tide by the MortOoy~e) rtpoir o~/er
G res~or• end/o~ reno.ofe andior repossesti ~Ae p~eiwises. All cosh e:pended by Ihe Mortpo9e~ PYflyOM to IM for~po~ny ~hoU b~ dw ond poyobk /onh-
~ .ab ond s~all be secvred br tl~:t wwr~paqe
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10. ilwt the obstrod u obterocts o~ ?itk co~~riny tti~ ino~tqoyed propeAy ~hall, duriny ~A~ li(~ oI tAis wwrtpoye, rtmoin in rke po+sess~on o1 ~M
~ Mo.tpa9e~ ond in e•eM o~ eM foreclosure of lhif ~wrt9ope u olhe• t~ansfer oI 1i11e to the nwrlpoQed prop~rtr iw •atin9~~sl+~nen1 of ~Ae ~ndebl~dntu
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Y ~ec~red he«bp, o~l n9M, titk and in~ernr o! ~he Mortyoyor in and b onr ~vcb obstwd~ of tiNe sholl poa to ~he purclwur or yronqe.
~ 11. TAm 1i~we n oi th• e~sence o( ~Ais comroct_ foilw~ of ~M Mortqopee ~o ~atrcu~ or enforc~ oey riyAt or opt~on occordtd it by MSs controct
~ o~ ony 6iwt, tholl nor wnu:~ule o~ro~.er of its riyAt ~o do w ot owy otAer t~m~_
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12. TAo~ in oider b occelcrote ~he ww~vrfry oI ~M indebrednas Mr~by ucvred b~covw of ~he Io~l~re o1 ~M Monyogor ro por oer ~o¦ osses~w~ew1,
liabil;ty, obl~9onon or ewcvinbronce vpon wid propertp ot Aer~in pro.id~d, it sAoll not be necessary nor req~~sip ~hor the Mortgo9ee sholl f~rst pop ~h~ ~oa».
- 1~. To ?h• •¦~•nr of +he ~~debred~e.s o( fl+e Monyopor ~o rh• Monqa9ee dtxribed Aet~~n o. secv~.d her•br, ~hr Mor~goge• ~s he.eby .vb.oyo+.d 's,
~ 1o the Gen or I:en~ ond b ~A~ ripAb of tA~ orners ond Aolden ~A~rwf (ieclvd~ny the AAortpop~~ i/ i~s o~+n iwo.t9oye r~f:noncedl o~ mch ond ~+~ry
awrtqa9e, li~n or o~her :wc~w~branc~ on ~M bnd deur~brd A~.ein wl~icl~ ia pe~d ond/o? sot~~fied, in .rholt oi in pan, ou~ of tAe prueeds of fhe loon
d~uribed berein or secvred Mrebr, ond th~ retpectiw li~nf of wid awrtpoge~, G~n~ or o'A:~ incvmbroncea, sholl be ond ~ha wm~ and ~ocA of th~iw
- h..ebr ~s pre~ened ond si~oll poss to and b. Mld br rh. Mor~poy.e 6~r~~n os sec~riry lor ~he indebredness ro ~h~ Mor~po9ee here~e deu~~bed o? Mr•br .
- tec~r~d, ~o tAe same :atent thol i1 would ho.e been prrserved onA would 6a•• be~n pos»d ~o ond been Aeld br 1h~ Mortgoyee Aad ie been d~Fp ond
reyub~ly otsiyned, troMf~rred, se1 o•er, ond d~l~v~red ~n1o IA~ Mortpape~ br s~porote deed oi oss~qnm~nl, wotwith~tondinp Ihe loct that Ih~ ~oaN wor
= be w~nf~ed ond concelled of r~cord Acqvis~~ion of htl~ ro tM nwrrpop~d proxAy by ~M Morrpoyee ~holl eo~ op:ro~e to ~erye fhis inorryape. but lo tIN
contror~, th's wwrtpoqe sbll noe b~ dee~ned 'n~r9ed ~nro so~d rit~e ond dwll bs PltlVnlfA to b~ and re~woin ~n (u!1 /orce ond ~ffac?, vntil wt;~l;ed by. fornwl
indruinen~ of sotisfoce~ow.
11. 1Ao~ in Ihe eve~t th~ pren.~ses herebr moAyoped, or ony Pon ~I~~reo(, ilwll be conde~w~~d ond ta?en (w p~btic ~s~ ~nder tAe power o1 eTinent
dosoin, tA~ Morfpoqe~ sl~ell F~o.e 17+~ ri4h~ ~o d~wwnd 1Aot oll doiwoy~~ o~ord~d for tAe lokiny o1 or donw~~s to so~d p~em ses sho!I be poid ~o tA~
= Mon9oQ~~, ir~ svccnwrs or os?ign~. vp •s ~Ae owwvnr tA~n ~npoid on Ihl~ ~wo~tQoy ?o b~ oppl;~d rpon fM porw~ent or poye+ems lost poyabl~ Aer~in.
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_ In eh~ ••eM ~t beco~nes wecnwry io. 16~ Mortyop~• to •w~plor counwt Io prot~ct ib int~r~sf o~ any coedew~nof~on proceed~nos, thr Morrya9or sAoil r~'~nb~rs~
,3 the Monpop~e for o11 reownobl~ otto~eer lees ~hvs incurnd, ond ol) s~rch wmt ?holl be d~~~ned s.cvred by ~Ae Gen o( ~A~s /norrqcpe.
13. In eM •.ent 1.l~ in~~ronc• vpon ~A~ GI~ of oer hbrtpopor (w ony s~bspwnt own~r of ~A~ prop~rtrl is r~qv:r~d ond/or it ou'yned to ~A~
i%; M~wtpoy~~ of odd~tionol collot~rol For th~ npay~ent of ~A~ loon wc~nd he.eby, fMn rA~ Monpopor opre~s ~o par ~he pflAllVTf ~brreon promptty ond
iy be(w• IM w/we s6a11 9o into defouh, ond (od.r~ w/o do. fA~ iwwtqopee ~nor. o~ i~~ op~~on. od~an~• rM P.ew~iven on owy svch fi4 .ns~ronc~ ~rA~r~-
';.z ~pon oll prtw:~s~ w od.onced sAoll b~ odd~d Io rM vnpo:d bolonc~ of 1Ae bon. ond sAoll b~ ~~c~r~d b~ ~M f~n o( th;s wwrtyop• NorA.np Aer~~n sAol)
~'3 b~ ~onstrwd as r~avirinp t6t Nbnpep~• ~o od.anc• wcA prr/n~v~ns o~ te otMrw:w obl;yat~ ~h~ Abrtpap~~ in on~ wwna~r r~~ped~ny w:d fb imvronc• peliqr.
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