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HomeMy WebLinkAbout1108 9. To ptace and continuously keep on the bui:ding~ ~ow or ?:ereafter s~tuafe on said land and on all equip~nent and personally covered by this ma sgs, with all premiums thercon pa~d in full, fire insurance in the usual sra~ard poticy form, io a sum appr~ved by the MOR~GaGEE, and windi~o i~surance in thr usua! ttanda.d pol,cy fwm, in a sum spproved by ~he MORTGAGEE, in suth to~~pany or to~+panies as the MORTGAGEE m diretl; and atl iire and w~nclstorm insurence policies on any of sald build~ngs, any interesl the~ein or part thereof, in the a99rcgatt sum afo~e:aid ie excess thereof, ahall contain the usuat standard mortgagee tiauss a suth other clause as the Mortgagee may requ~re, making the iou under sa~d po ues, each and cvery, payable to said k~ORTGAGEE as i?s interrst may appear, and each and every such po:~cy shatl be prompt~y ass g~ed and de~ivered s ~ +ny held by sa~d MORiGAGEE as furthe~ security to sa+d mortgage drbL and, not less than ren (10) days in advance of the expirat~o~ of each poGcy, to d~ I;ver to sa;d MORTGAGEE a renewal thereof, together with a rece~pt fw the premium of such renewal; and ~here shall be no f~re or ~vindstc~~n insurar+c - placed on any of sa~d bu~ld~ngs, any intzrest ~here~n or part thereof, unless in the fo~m and w~~h the loss payable as a!oresaid; and ~n the evertt any sun , uf Twney becomes payabfe undc~ such policy or poGcias said MORTGAGEE shall heve ~he opt~on to recnivo and appty the seme on accoum oi t~e iodrbtod ~ . ness secured hereby w lo permit aaid MORTGAGORS to receive and use it w•ny part the,eof for .o:he. purpose:, v.iiho~t th:~~ur ~Y~~~~~~3 1t°W~r' ing a~y equ~ty, lien w righl under or by virtue of this mo:!gage; ~nd in fhe event wid MORIGAGORS shalt for any reason fail to kcep 1he sa~d premises so insu~ed, or fail fo deliver pranptly any o( said pol;c+es of insura~ce to taid MORTGAGEE, a fa~l promptly to pay fulty any pre~nium ~herefor p in a~y . respect fail ~o pe~form, d~acharge, execute, e(fect, tomplete, comply with a~d abide by this covenant, or any part hereo(, said MORi~AGfE may piace a~d - pay for such insurance o~ any par! theieof wirhout waiving or ~(fecting any option, lien, equity, or righ~ under or by virtue of ihis Mortgage, and the 1u11 amo~nt of each a~d every such payment ahall be immediately due and payable and shall bear interest from tha date thereof until paid at the rate ol n~ne per centum per annum and ~o~ether with suth intcrest sha7i be sccured by the lien of this mortgage. a.,•. 1. To permit, commit or suffer no waste, impa;rment or deterioration of said p~operty or any part fhereof. S. To pay a!! and s~ngular the costs, chargei and expenses, includ:ng a reasonable atto~ney's (ee and cos~s of abstracts o( title, incurred or paid at any time by aaid MORTGAG;E, becavse or in the event of the failure on the parl of 1he said MORTGAGOR to du(y, promptty and futty perform, d~scharge, ~xecute, effect, complete, comply w~th and ab;de by each and every the stipulations, agreements, conditions, and covenanrs of said pranissory note and this morfgage any w e~~her, a~x! sa~d costs, charges and expensea, each and eve?y, shall be immediately due and payabie; whether or not ihere be no~~ce da ma~d, at~empt to coltect or s~it pend;ng; and the full arraunt of each a~d every svch payment shall bear infeies~ irom the date thereof until paid at the r~te oi nine per centum p,;r an~wrn; and all said costs, charges and expenses intu~red or paid, together wrth such iNerest, :hall be setured by the lien of this mortgage. 6. That (a) in the event of a~y breach of thit Mortgage or defautt on the part of the MORTGAGOR, or (b) in the eveM sny of sa:d sums of mo~ey here7n reterred to be not promp~ly and fully paid w7th~n thhty (30) days next after ~he same severaily boconx due and payab?e, without demand or notice, or (c) in ~he event each and every the stiputations, agreements, conditions and covenants of sa.d promisso~y note and th~s mortgage any or eirher are not ~uly, prompHy and fully pertormed, d~uharged, execured, effected, compleled, compl'eed w;th and ab~ded Sy, tFxn in eifher w any such eveM the said ag~ gregate sum mxntioned in said p~omisswy ~ote then remaining unpaid, with interes~ accrued, and all moneys secured hereby, shall become due and pay, able forthwith, or thereaiter, at thr option of said MORTGAGEE, as futly and completely as if all of tha said sums of money were or~ginally st~pu:ated ro be paid on such dvy, anything in sa:d promisswy note or in this Mortgage to the contrary norwilhstand~ng; and thereupon or thereafter a~ the op~ioo of said MORTGAGEE, without not~ce or demaod, suit at law or in equity, thercfore or thereafter begun, may be prosecuted as if all moneys secured hereby hed matured pno~ to its ins~ituteon. 7. ~hat i~ the event tbat a~ the beginn;ng of or at a~y time pe~di„g any suit upw~ this Mortgage, or to foreclose it, or to ~eform it, o? to enforce payment of any clairr~s hereunder, said MORiGAGFE shall apply to the'Court having jurisd~dion thereof for the appointment of s Receiver, such Couri shait Forthwith appoint a receiver oi said mortgaged property all and s~~gular, includ~ng atl and singular the irtcome, profits, issues and revenues from whatever source derived, each and every of wh~ch, it being expressty understood, is hereby mortgaged as if spec~(lcally set fwth and described i~ the granting and habendum clauses hereoi, and such Receiver shali have atl the broad and effective funct~ons and powers in anywise entrusted by a Coart to a Receiver, and such appointmen? shal! be made by such Court as an admitted equity and a rt+atter of absolWe rigM to wid MORTGAGEE, and without reterence to the adequacy a inadequacy of the value of the property rr.ortgaged o~ to the sowency or inso~~ency of sa~d MORTGAGOR w the defendants, and that such renr:, proi~n, incane, iuues and revenues shall be applied by such Receive~ accord',ng ?o the lien or equity of said MORTGAGEE and the prac~ice oi such Couh. 8. To duly, promptly and fully perform, diuharge, execute, effect, complete, compty with and abide by each and every fhe stipulationa, agreements, conditions snd covenants ~n sa~d promissory note and th~s mortgage sef fortA. 9. That i~ the event the ownership of the mor~gaged premises, or any part ihereof, hecomes vested in a person other fhan the MORTGAGOR, the r1:ORTGAGEE, its successors and ass~gns, may, w~+hout no~ice to the MORTGAOR, deal with such successw or successw in interest with re(erence to this mo~tgage and the debt hereby secured in the same manner as with Mortgagw without in aay way vitiating a d+stha~ging the Mwtgagors' tisbility here~ ~nde? or upon Ihe debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the pan of the MORiGAGEE or its successors o~ ass~gns and no extension of the time iw the payment of the debt hareby secured given by the MORTGAGEE or its suctessors or ass~gns, at1a11 operate to release, diuharge, modify change or affec? the orFgina) liab;lity of fhe MORTGAGOR herein, eifher in wfiole or in part. )0. is spec;fically agreed that time is of the essence of this contract and that no waiver of any obligat~on hereunder or of ihe oblyation se- cured hereby shall at any time thereafter be hefd to be a waiver of the terms hereof or of the instrument secured herby. 11. In add:tion to the lorego ng moMh!y payments of prinCpal and interest required by ihe promissory no!e secured hereby, r.eortgagor covenants ar.d agrees to pay to mortgagee with each momhly payrneM an add~iional sum estimated by mortgagee to be equal to 1/ 12 of the annual. cost of the follow- ~„g: A-All real pr~rty laxrs levied or assessed agai~st the above descri~d real estate. B-Prem.ums on fire and windstorm insurance as herein requ:red ro be carried on the improvements sitvate on the above dssc~ibed premises_ C-Premivms on such morrgage guarartty insurar~ce as mortgagee shall from t~me to time drem fit to carry on the loan secured hereby. Matgagee shaEl frum time to ti~se notify mortgagor in writing of the amount due and payable hereundrr and such sum shall thereupon be due and ;.ayable on the due date of tha next monthly payment and each successive monfh thereafter ur,til morigagee shalt not~fy mortgagor of a change in such a~nount. Such sums sha:! be applied by mortgagee toward the payment of real property taxes, insurance prem:ums, and mortgage guaraMy inwrante premiumt. IN WITNE55 :YHER~OF, the said MORTGAGOR has hereunto set his hand and seaf the day and a firs~ a 'd. Signet~, S ated and deiivered in he presence of: v / an , ""r R?chard K_ Welshans ~ a e~Ina7~,q - _ acLd,~ (Seaq ' S7ATE O~c PENNSY(.VANIA ~ couNnr oF Lycoming 1 I Before me ~.~nY appeared Richazd K. Welshans, a sinQle adult ,mrY ' ~ to me welt krwwn and known to me to be ~ the irtdividual[ described in and who executed the foregoing instrument, and acknowledged before me that ~hey executed the same fw the purposes therein expressed. rilHC~ ' --'~x~fiinatyn iy. ~~aiew.sMa/aM vwd.apar~ ir~.w~ iw~++io~lK~+~d? ~oMwow~ltir,~i 1~~w~ ~eioro-w+r N»t-~ti~e-su~c~hd~ ssid-iwNniwww~~Fti1r ~rd+r~Iwr ~..iiy~wi w~i~F~os~~awT ea.~pdaiow,-ce~*s~.airw,~pp?ei~ensiar, or iesr-oF ~r ~enr F+er seid-ho~be?td. WIiNESS my hand and official seal this day of .JUI]e ~ jl p, ~q 72. . . . ~ f1LE0 ARD RECO ~~ary public in and ior the Stas4,~0 . :~;lar ' sT. ~ucaF couMrr ~ ROCER POITRIs My Comm;s:;on exp~res: . . ; ' I Retum To: l• WhltlO fP WELSNAtiS. N61ARY PU~ . CLERk CtRCUIT C4tlAT t.~. _ •,r;~~ - - = first Federal Sa~ings S loan Associa!ion qECORC VEa~FtEO ~ ~u~SPURT, L~COhS,*~:~p(~jy e ~ Of Fort P~e:ce. MY COM~11SSfOM EXPIRE$c.{„~ij/'..~; •jy~ ~~1. = Fort Pierce. Florida ~ ~Q ~ ~~~~l~] ~ltOblf,Pennsytvani~AssntiaFan4itiotirief~ - L = d ~ ~ : . 233591 k J~::. . ; this Instrument Prepared By: .1ohn W. Co21in5 ~ ^ First Federal Savings 8 loan Association 1„ ~ _ of Fort Pierce ~ Florida 33450 J Checked By~_ ~ ~8811~iV~ PACE~~~ s . ~ _ , r _ ~ _ , ~ s- _?~'.w~~7,-:a-'.~'° ,r`~t~s!~i., '-~e".~".. - . . ? ~,'",;'~`x,~-.