HomeMy WebLinkAbout0728 IA Ne •~~~~?.~w ~f ~~~y, e~ ~ed~}~co~.M' ~ M~ qrw ~1 MYrwwl ~~~iN~ 'ew IA~ ~oAOsp~ we1~ ~~r~br N~ur~d, ww ~wy r~l~qw el •~y MA N
MrM el ~M wo.fOot~ Piop~rfy, mw IAe~aA ~ed~ ~i~~~~ N?~ i~n~~ ~1 N~? /A~A~h~e. ~Aoll r~IwN. r~li~w er d~uAorp• M~ Mle~fpeoo. f.aw~ M»
w~wt ~1 •wy el ~~w,~ INr~ly ~nd. A~~ i~ ~~A N~M el» M~A~MN ~?~M AMNINI~Y M lieli~ N Pep ~aeA w~? occwdiw~ le tM ta~ ~t a~rcA
~,Nwww woal.c~Mw rwbu •~pr~»Ip r~l~ew~ •wd d~KlNr~ i~ ~wi~iq ?y ~A~ J~~pN. TiN bb~tyoqor ce.~wowb N?~t Fa M.~ ~~aw~ ~M ~aw~nAi~
~l N 1~rowny e~ •~y prt ~A~?~ol b~caww w~~~d i~ • MeNw ~?br tlN~ Nw A{Nf~p~r. M~ IM~eIOpN ww ~iwilorlp d~el wiM~ sviA wctwo~ N
•v~r~~wn ~w ~w~~.~p .nAow d~acAory~w9 M iw ~~y ~sy off~ctiwo Hy IiobiliM ~1 1M M4et0~Ow A~rwwd~~ w ~pew M~ d~L~ ~~r~bY aKVnd.
I7 UPe~ wo~~ce owd de.wsd Or ~Iw MeApoyH. ~b 1Mwroo9e~ ~A~11 ~ N 1i» Me~peyN. hO~M~+ w:tl~ tl.~ wow~l~ly O~ywNwb ow x~er~~ ~f
p:waoel ewd dw ~wd~r ~M we?~ Ncw~d A~r~br. :w ~A.enc~. ~rc? oddie:ewel w~wMh w~ Uo M w~i~e~~d Sy M~ Mlonoo~~1 os ~JI •aob4
tA~ Mor~pop~• ~e oor e~ Mtr l~~owy du• ew~rol ro~~s. ~lNMrNwM, iMY/OAt~ N~wi~wn (Ae~erd w iif~) end ~ey ~~d all o+A« ~AarpN ew ?A~ ?wl ~NON
~~c~~iryr. /.o+ M~ f~~~ ~ ~K~;Kd NotA~no Irhiw ~Aa11 b~ c~wterwA n rsl:~~:wf M~ Ms?roeper Irew ?i~ ~~tponai?iliy fer IIN ~y~w1 0l q:J cAor9~~ il
M~ f~wd~ colkcr~d, p~r~„o~~ ~e IAit ?eroyrapA, sholl M inavFFici~wl fer fAet ~rppN. TA~ Me~~qp~~ ~~f~n~f ~o ~h~H fIN obWl~t~ tiOAI Io iwoo~• IAu
cbuw ee ewr ~~wK d~.~~y rhe I~le ol ~A~~ wwr~yogr All w~en~~~ so po~d ~e ?h~ Mor~poq~~ in occerdowq rntA ~6u pro•awe si~oii p~ wow INi~[fN ~~u.i.-:y ,~nd
~AoN s~oed o~ odd~tio~ol sec~n~y !o~ tA~ perlo•wenw ol M~~ ~p~lqoy~ and ~M no1~ ,.~vr•d M.•by. Soid soni~~ sholl wo/ b~ subj~d M r+~Mdro.rol. anotA-
.wn~ a qo.~,sl.w~c~~ by o~r pa~h. ~or b~ co~w:wgkd by ~I+e /~w~qopN ~r~tA eM~. wen~s~ ~f th~ Ale.?4ooe~. ond iw ~h~ •+~n~ ef a d~feuh vnd~r ~hia
~wo~?qo9~• rwer b~ eppl~~d b~ Me Mo.~g~:~. o~ :q op'•on. ~qaiw~f iM bolowi~ dw ~pew ~Ae ~wdest~de~u Kcured Dy ~Fi~ ww.ryoy~. ih~ xtsrt~a~~a sAa!! ao!
~ I:obl~ 10. ~1,e ~nod.~.~e~~ wee-po~n~en~ e! srci~ ~o¦~s, in~urence. erc. ~eR~~ tiucA foiiure ~ r~fuw! ta p~ sAa!! ect+er e(~e• (01 r6~ Mo.~yoQ~~ M~ ~od~
'.r~new d•ao~d ~pow ?Ae ator~9oge~ ~o do w, ond ~b~ Me Mor~qogor Am f~rwi~Md tM Merrpope~ ~~th +A~ roa b:ll. ~nsu?anc~ iw.oice, er o~Aer S~1f M be po:d.
1~ /4~1?C~a($+1~Ci~~~IC.1~1~ x"rx~}f.~17t~C~l~Yi~R~IP'CQ4~1~~O~F~bCII4I!{?E46}Uy[]!DC'aXO~?~A1~CMKXX70KQQ~3C
7~X40lQ~dli?R}~?t9t.i~?!lQlC4(fX7~KK~lt~RX}NXlC?li4~+X4[ft'4L7[!~t XM4t°R4i~R4C J~{~1Q~~'R}PlC~fJ{Q~7t~C140Q~1C )3)iJi?~lM 7Q4{
R4Rtft R 7t~c k7c X~d 1dR'~!C Xx9c~X~l~lt 7t~f+t~J~AGx*lt4c I~lM! X~t7c'9C41~x4Efc ~R'X~~7E7[ ~oocol ~c aDOe*~aDCO~c Xx~wx~W7aaCR~Ofc
xi~aao~x~r~umcx~axx4caAx~aa~x~oaExsc~cxx~~rnceexoncx~mcws~ancx~ceoxccec~a4o~axx~xem~t~cx
19. fU1URE ApVANCES. TA~s iwo.~qop~ a1w11 ucvr~ ~qf oal~r ea~stinq t/ldlSlldAtff AYI OIlO fYtA IYN~~ OdvOMtl, wI1f1Alf tYtl~ OdR011Ct~ Of! ObM90b/y
or b oe w~ode ot ~hr op?:on o1 ~Ae knde~. o~ etA~~riu, (owd rh~HKr fa p~rpous ef consh~rct:on pursua~l b poroqropA 1a obove o~ otMnrifel, os or~ wode
~~eAin n+enry 1201 yea.s Irow, d,e dote Aaw1 b ~A~ w~ ea~~w~ o~ if so~d fwvn odvancn wr~ wod~ ew tlK dot~ of HK •s~cvtiow of ~Ai~ nw~+yog~.
ohAougA Me~e w~oy be no od.once ~nade ot ?IK tiwK ot tAe ~a~cueiow ei fAis inert9oq~ ond oleiwugh fMw wor be no .nd~btedw~a ours~ondinQ o~ ~he ~
t~~nt ony odwnce ic wwde. It i• ierended thot 1Ae l:en o1 tA~s w~w?qoy~ sAofl b~ ~alid ot 1e oll avti~ iedebled~u ond /vture odroncta fro~w th~ ~iiwe tAi~
nwrtpoy~ Rtrd lor recerd. TAe M~ol owwunt d iwdebredn~~ riwf w~ep be ,ecv.~d by Mii ~ottpo~+ wey dcaeast or inc~~w: Iro~ t:lwe b ri~, pre~ided,
Ao..e.e., rAo~ ~Ae ro~a1 ~~po~d balowce sa~c~.~d e~ eey one ti~ ~aM wo~ ~ace~d o woa~wvA p.iwc:pal owavM of FIVE HUND~D THOUS~D
and no/100 ~I~s I3 ~j00 QQQ . QQ 1. or (if no saaiwWiw principo~ e~wuM if ~et fonA Mrfiwl wid w~oiis~w~ princi 1 ,
~ P° i
o,noun~ s6o11 be on a~novnf eq~o( b trice IAe o~iy~nol principo! serw o! rh~ p?o~eiuory no?. ,eco.ed h•r.br, pl~s in~rrea~ ~Aereon. ond onr d~sbv~se~nents mad~ by
eAr Mo,tyogee ios th~ por~went of ~e¦e~, b.:~s M i~tYf0~1M ow tlw prop~ry corend by Il~ia wo~tpoy~. toq~rAer vriM in?erest t6~non, pl~s ne~onobM
onorney's fees ond coun coa?s incur.ed in Me colkclqn of onr o~ oll of soid ~u~a of ~pn~y. To tM ealenl Mot rh~s worf9oye ieay s~cure iaere tAen ow~
no?e. o deforl~ ~n ~Ae poy~e~~ oI oee noee +Aoll cewstirw~ e d~(arh iw ~Ae pay~nt of all o~Aer eoMt.
10 If onr e! ~Ae t~wn eI wwn~r Aerein re(erred 1o M wot p~ew~prly end fullp peid writAin~Q_.dor~ n~c~ oher the wnN s~w~oNy ww~ dw
owd poyelle, or il eo~A ond e.ery ~he snp~ls?:uwy. ogr~~~etf, towdif~ons, ond tor~nanif of so~d p~oiwisw^r sW~ o~d ~h~t ~uOrfyop• or eitA~r, or~ nef
d~y pe.lo.~wed co~p!~~d .+~M und ob~ded br, M~ ogy.tya~e ww rw:nt~oned iw wid prow~iswry no'~ or etA~rwriu ucured Mreby sAoN beco~ dw owA '
pa~ob[e Ior.6~.~6 0• r1.~.~of~er et ~Ae ope:on of tA~ More~~k. os !~!!r ond coMpk~•!r us :f wid epprepo~~ ~uiw ol nwn~r .ros or~iwally seip~bNd ~o
b• po;d on i~~A doy, ony~A~nq in w~d p.o~e~swry eore o~ hn~in te tAe conlrory nehri?Aafondinq.
Ii M odtl.bowoi ftcv~~ry t~c ~ioriypyw uoe. :.e.iu~ ..a~a;~6•', G;;;yr. ;-,J, t:. v._ •e:a Y~~f~en~~ ih fuccfuon e~ obqM. ony ond all
r~n~s noo d~e, or b beco~e due, on tA~ ebo.e descnbed p~ew:~es o? awy ~~porob ~~MOI prtw~~~~ oppvr~enont t1~mNo, ~.hic6 o~e ut~ot~d o~ tlM (ond
ebo.e d~scnb~d: wcA ~en~s to be colleded bY or o~ fM dirMien ef ~h~ Mo~fqoyN. ih ~vcc~«wf er ouiyns. ond ~be nct proc~+di tA~rtof /o b~ oPpl:~d
b IA~ indebtedwe~s Ae.e~nbefo~• ~ecu.ed, os o.~d ~.Aen M~ sow~ sholl b~coM dw end pero6lt: ond for th~ pvrpoae ol terryinp ov1 fAit prorifion 1M
Menyeper dors by ~A~se p.~senls, ~om4tWe owd opye~n~ w:d Mer~yey~e, or ~Ae +ucce~wn or ossiyns of ~M w~d Mor~qoyN, o~ Ais. Aer or tM'v hw ewd
~orFel ouo~ne~•~n loc~, ~o collect onr ond ell nwh fo~ w~d ebe~~ deur:bed pr~w~i?es, taprMtlp or~Aeriiiny ~A~ MortQ~k or ib svcce~wn w os~ipes te
~eceipr f~nan~s rAen~or, ond do by +Aeae pr~seeh roufy ond coe(inw anr ond oll och o~ so~d ottoreer-~n•fec~ ~n relorion ~o tA• /o~ego~ng po.+~?. iae forr
po~n9 ossiynment of rentofs shoft nor ~ deemed ~oi~ed br n~ere Io~~beoroec~ ow tA~ porl of tl~~ Monyo~k in r~specf tn itf riyAt to collect wid ~tnrots,
' ..AicA riyAt ot collenron iwor be ~nroked br tl~e MoNyogee a~ any tirwe. Nolhinp 6erein sAoll be deew~ed 1o cons~itub Me Mongogte a Mo~tyoyee in po~~~uioe.
22. The maturity of said promissory note may be more than twenty (20) years from
the date hereof and, if this mortgage has not been satisfied of record within twenty (20)
years irom the date hereof, all persons are called upon to inquire of the holders of this
mortgage concerning maturity.
23. This mortgage is given as additional collateral, together wit;~ a col- ;
lateral assignment of, and security interest in, contract rights and contracts t
for the sale of individual lots or parcels within the lands encumbered hereby, ;
~r some of them. It is agreed that if the purchaser under any such contract z
shall pay his contract in full so as to be entitled to a deed free and clear of =
this mortgage, while this mortgage remains in effect, Mortgagee will release
from the lien hereof such lot or parcel as to which payment in full is made,
without requiring any consideration therefor, provided that Mortgagee holds by
assignment and has a security interest in other contract rights and contracts
for the sale of individual lots or parcels, which individual lots or parcels
will, after said release, continue ta be encumbered hereby, and which contracts
and contract rights have an aggregate unpaid balance equal to at least four (4)
times the un aid ~rinc~p~l ba~ance of th~ not~ ~ecure~d t~e~:e}~ (SE~ R14E~Z ~ATTACR
:;r;RETO 1~~~ti ~1'f ~:R~:nF, t e s:uel ortpagor h~rcunc ~r ceis ic .~nct anc sea t us t day an~ year ~rs a ve
~~riutn: ~r (a~~~?li~able ~~nl~~ where ~t~~rtgagor is a corporationl the said \(~~rt~a};or has iau.cd these presents to be signed
in its nam~ by ~ts Pre.id~nt, and i3s coruorate seal a(Gxed, auc~te~l br its ~cceretar • this the day and y'ear written abovt.
Sig J in the presen~e ot: Mjp~I WES E ACRES ~ INC .
.
E~~.,~~Q,, -
~ • ~
, .
. - . ~:L?L~
~ , X....--------• ._..---........__.........~.c.v4............ ;
,
~ !
r Attest :
. p .
_ _ --s (sE/1[.) t
-~l~i.. ~
- INTERST I HWAY INVESTME T CORPORATIO"~
.
BY.•••-•---• ~SEAL~ i
i -X'.z~" ;
Atte ~
-3-
- ~ooK 198 ~~E .727 ,