HomeMy WebLinkAbout2028 7. If a~r ol tM ~w~a of ~non~Y Mr~in ~dard ro b~ ~s~ p~aro~b Md fully p.id w~~h~n ~A~ny 1~01 d~Y+ n~at ~hN M~ t~rM ~~w~s11y p~co~ d.h ~nd p~y~l~.
a il ~~cA ~nd ~vKy tM pipularioeu. ~qr~nn. cond~rioeu. Md cownann o1 uid wwnis~wr noN a+d this ~nor~y~p~. or ~i~Mr. ~r• no~ duly p~.lwm~d ca.wl,~d
wid~ ~nd ~bid~d by. tM ~yqr~pN~ !VT m~nnon«f in sud panis~wy nob ~Aall becorM dw .~e ar•~~~ lwt6w~~h a ~M.~~h~r N tM op~~on ol ~M µa~wv~.
as fvHy ~nd compbN~y u i1 f~id ~yp~~p~q ~wn of moewy wu ui0~eylly ~~~pul~t~d a E~ p~~d on s~rch day. ~nY~hinp in s~~d po~~ssory ewN a Mr~in a tM
con~ruy ~otwitAa~~nd~nq. • ~
, f ~ ~ ~ . ~ .
S. io ~fe1:vM ro seid Mw~qapM. on a~la~ March 1SM o( ~uA y~ar. Ua rec~iph ~vidMCinq fM WY~~ of ~11 I~wfulfy impos~d t~,M Ia tM p~c~d~nq
c~hndu y~u. a d~liva a uid Mw~9~pN. r~ct~Ph ~~idenc~nq tM paY~+t of •~I li~ns tw public ~w~powmMn w~M~n n~n~ey (VO) d~r~ a1rN tM u~ ~lyll b~conH
du~ +nd wrasM. ~nd ro p~Y « di~cMrp~ wi~hin n~n~ey (40) d~ys ~far dw d~q. ~ny ~nd ~II qovann+MUl lerl~a ~M~ ~nay b~ nwd~ on Nh ~nw~p~~d popa~y.
m Mi~ mwp~q~ w no~~. w in MY OIAM w~y r~~ul~~~p from ~M A~atyap~ i~deE~ed~ss s~cw~d sy ~hi? ~w.~yaW: ~nd il tAi~ condi~~on b~ nW ca.,pl~~d w~M ~nd oe?-
fanwd, ~~id ~wo~~payM nyY WY such ~wn w swm whKA sMll b~cona v+n o/ tA~ deb~ ~ec~r~d by M~~ nwr~p~q~. u~d sMll b~a in~NM~ ~t ~M r~p ol sia pN c~nt.
(6X) Wr ~rvw~, paY~b4 t~m~-+nm+~lly until p~id or ~a~d Mor~p~q~ m~Y ~IM MN »~d mor~q~q~ deM eMr~upon E~com~ dw ~nd p~y~pl~ fwMwiM.
9. U i~ fvrH~r co+tMnqd ~n~ ~yre~d br s~id panin Mu in ~h~ ~wn~ of • sut~ M~nq ins~~wted ~o iw~clos~ tAis n+orp~p~. tM Mwep~pK sh~tl b~ ~n~~tl~d fo
pply N~ny t~ew pa+dinp ~uch ia~closur• sui~ a tM court Mviny iwudidioe ther~of la tM ~ppoinantnf o! • nc~iver of ~II snd sinp~!u tM mwtyaped popNry.
~nd o! ~11 tM r~nM. ie~cwnts. profifs. ~s~wa ~nd rw~nw~ ~Mr~of. lrom wAarwtve~ ~o~ru dN~ved: ~nd tM~~~pon i~ is Mr~by •,ppsly covenan+~d and prNd
tMe tM cow~ sMll faMw~M ~ppo~nt • r~c~~var of u~d ~nw~q~yed popeny, all ~nd unqul~,, and of such r~ny. incpn~f, pofib. i»„y end r~wm» ~Mr~o/, frwn
wMno~v~r wura daived. wi~A H» wwl powKS ~nd dutip of rec~ivert in lik~ uses: ud t~ch ~ppo ntm~nt shatl E~ m~d~ Ly such cowt • manN of st.:ct ripM
ro ~M Mw~y~q~, it~ succe~son. I~y~l tpfqMUfivM a a~i~qns, u~d wi~Aout ~~faenc~ fo ~M ~d~ovxy or inad~q~~cy of ~M v~lw o( ~M pop~rryr lwebY Tweq~p~d
a ro ~M wlwncy a iroolvency o( tM Ma~p~qw. ~nd ~Mt such r~nt. potib. inco~, iasws u~d r~v~nws aA~ll b~ ~pplc~d py ~ucA r~c~~vN ro tM wrT~n~ of ~M
nar?p+9~ iedep~~s~. cosb ~nd cMrqes, sccwd~~q ro tA~ ada ot sucA cowt.
10. If ~ conwyw~c~ aAould b~ ~d~ bp tM Mor~p~9or of tM prem~i„ lw~~n deur~bed, w anr wrt tMrwf. w~~Aow ~M wrin~n c«uem ol tM Mo.epapN. and
wi~AqA ~sswnp~~on in rpuls~ faa o1 4w by ~M pr~n?N o( tM oslip~tion fo fh~ MwtgayN ueat~d by s~id paniawry ewN ~nd Nus ~non~q~. eMn, ~nd in ~Mt
w~ne. ~nd ~t tM oprion o/ N» MortqayN, w~d wi~hwt not~c~. aU swn~ of ~nor»y secw~d hereby sMll imn»di~t~ly ~nd eonevn~Mty wiM s~+cA conv~v~nc~ b~coen~
dw and O~r•bt~ ~nd in d~t~vlt.
11. ~M~ i~ ~M went M~ pMn~s~s Mreby nwr~y~y~d. w~ny p~rt ~I.M~of, ah~ll b~ conderrvK~ ~nd f~kM fw puplic us~ unda th~ powe~ o( Mnin~m dpnain,
eM Monpp~~ iAall Aaw Nw riqh~ a daMnd tAat ~11 d~Taye~ aw~.ded for ~M ukinq ot w d~may~~ ro s~id p~mistf ~hall b~ p~~d ro eM Mor~Q.y.~ up ~o ~M ~maN:~
tMn unpaid on M~a mwtprq~ ~nd at Ms cWion of the AAatQayN rnaY b~ appli~d upon th~ wr~h ba~ p~yaM~ tMr~on_
12. TM ino~tp~qor binds himael( not to u~tl or p~~init to A~ er~ct~d ~ny ntw Du~ldnys on tM pr~enis~s Mnin mwrp~yed a ro ~dd ~o a pern.i~ ~o b~ ~dded
to ~ny ot tM ~iipioq improvemen~s tMr~a+ a mat~ anY chanpn a aher~t;ons in said improve~nh whicA m~ttrially cMny~ tM su~a a tM us* tA~reof, w~tAw~
M~ writtM consMt of tht Morep+qe~. and in 1M ~vtnl oi ~ny vipl~tion a snempt to v~olsq Ihi~ stiptrl~tion tlw~ mOrtqi~ ~nd ~II a~~n: t~twed Mr~by aAall inf-
nw~~~dy Mcan~ dw ~nd coll~cnbl~ ~t tM option oi tM Mor~y~pM. •
13. It is w~c~fiully ~qr~ed eMt tf~ ia o1 ~Ae ~»«,c~ of this conv~ct and fl,~~ no w~~~ar o/ any o~'~qa~~on Mrwnder a of the obGyaeon sscwed here~v aMlf s~ ~ny
t~rr» E~ Mld ro~~ w~~ver of tM I~rnu her~of or of tM instru~nent stcured her~~y.
11. If Iwalosu~~ proc»diny~ of ~ny t~eond murq~p~ w s~cond lrusr de~d or any junia li~n of ~nr kind sAould D~ ins~itut~d. tM Mor~qasee ~euy. ies opt~on.
imm~di~t~ly or Mwrufte~ declpe M~s mwtyaye and ~M ~ndebr~dnesa a~cured AN~Ey dw ~nd paraDl~ fa~AwitA, ~nd m~y if~ ope~on pr«etd ~o faeclose thi~
mutp~q~.
13. To tM ~~e~nt of tM indtEtedn~i~ o} ~he Maty~qw to tM Mwtyaqe~ descr~bed Aae~n w sec~r~d hereby tM Mw~qaq.~ is hereby a~bro9ued to rhe t~en w
I~ens ~nd to IM riqhts of N» own~rs u~d holders thereof of e~cA and ~wry margags Iren a ah~r incwnbranc~ on tM Iw~d dncriE~d Aertin which is p~id ~nd/w
iatisf~~d in whol~ w i~ p~rf out of tM poceed~ o/ ~h~ lo~n descr~bad herein w a~c~~ed Mreby, arrd tM respectivt liens o( s~id enon9ayes, I~e~s a orlro. ~~cumba~cra
shall b~ and tA~. ~r.~ and each of th~m Ae~cby ~a p~scrv~d and shall pass ~o ~nd be Ae1d by tl+e AAortgsqe~ Mr~in ~s secwiy fw tA~ ~~Wednesa ~o ~h~ Mo.~p~pe~
~erei~ describ~d a hereby sec~red, to th~ sarra e.t~n+ ~hat it wa,ld have been pr~serv~d and ww~id havt been passe~ to and b~en Mld by tM Nbrtya~ee Md i~ Ecen
duly ~nd ~p~lyly aasipned, tramfM•~d, sN over snd delivered unto the Mwtgaqee by scpsrare deed of assi9nment noew~Mst~~~ny 1M fac~ eAat ~Fa sams maY be
sansi~ed and c~ncelted of ncwd, it be~nq tM mte~+uon of tM pa~~~es Acreto tAat th~ aam~ w~ll M s~t~afied aod uncelled of recwd by ~he Aolden tAereoi af a aboW
rh~ ~irn~ of tlk recading oI this mon~qe.
14. To paY snd a~nq~la. Mt cosrs. c~a~ges and e.peoses. ~~ct„d~nq liwver"s lees, reasonabl~ ~n~,,ned u oa~d a~ anv nme b~ ~~e Morrqaqce beee:,st of the
•j'c.r af nc~ Mongagor ~o perfo~m, cwnp~y w~tA anQ ab.de bY exh and erery O,e at~D.~lano~s. aq~etments. tood~e~on~, and careninh of sa~d pomnsory nore and ~~n
?eey o. e.~~e~. a~d e~erv s~..ch p~~meors sh~ll Etar ~nee.est f.om d~ee a~ ~Re ~+re o•o+~ded .n ss~d prom~~sory no~e
17. Wh~n ~ny ~ino~nr of money to E~ paid by th~ Allwrp~qor to tM Mortqape~ under tAe te~ma Mrwf shall b~ in d~fault. or sAould ~h~ Mwtyayor defavlt in
any of ~he othe? terms, povisions a cond~tiwn of this 1Mortyaqe, then and in thae us~ the Morty~qe~ sha11 A~w tM riyht, witha,t rw~~ce ~o tM Mor~ysyor, to
col~ect ~nd rece~w from ~ny ten~nt a IessN oi said mortyaqed premises tM renb, fssues ~nd pofh of ~M rNl es4q hertby mortpayed and rM ~mprove~nenh
rhereon, s~d to y~v~ poper r~ceipts and xquin~ncp tAe~efw. ~nd afte~ p~Y~n9 all comm~»~ona of any rental sqent colkctinq tM s~me. ~nd any reaso.ubl~ ~~fwney'a
fees and othr nectasary •ap~na~s incuned :n cdl~ctiny s~m~. to ~pply ~M woceeds of s~cA co~kcho~a ~pon any indeb~edneu. obliyst~on a liabif~h. of fhe
Mwt~9or Mereu~d~r. Tly riqht qr~nted the Mo~ly~ye~ under tMis pa~yr~ph shall b~ i~ ~ddn~on lo. ~nd shsll not I~inif p restrict, ~ny orher r~qht p nqhts qranted
ths Mwip~ye~ in Mis Mat~p~.
, 18. I/ eh~ Nbrrqsgwi a~ the tirrw of mzkirq this Mw~q~y~ a subswwnt thcreto uk~ out Ide ins~ranc~ d~ign~tinp t!» Mwtq~qe~ herein u bcnefi~iuY w,~A a
compsnY sppoved py th~ Albrtpaye~ w sssiqns pol~c~es fo tM Mwtg~qe~ for fh~ pwpose ot secw~ny ~M morrqay~ lo~n herebY ucwed. then tlr Morly~qe~ sh~11
have the riqht lo paY +~Y W~i~ ~cuuinp undM uid policies. ~nd all sums so eapended shall be ~dded to ~nd betony • pa~t of tM pincipal indebtedness stt~red
~ by thif Mortyay~ and sh~ll b~ paid by tM Mort -
I q+qw to tM Morlyaqee in twclw epwl consecu~~ve monMty irotallmenn, tM finf monMly inst~llment to b~ wid ~s a
i var? of end in add~tion to tM r~Mly p~ym~n1 dw under this Mwrq~qe in tM firs~ csltnd~r rnonth follow~ep IM •apendinq of said s~xn. Svch avna w e¦pe(+ded
~o bear ~nt~ra? at tM rne at wh~ch imeres~ is wY~b?e vpo~ uid principal indeb~edness ~nd ~h~ I~en of Mis M«~y~q~ ihall e¦tend a~nd secvre fM sums so cape~ded
royenc~r w~eh IMH~fI ~hNeon ~s heranbelw~ wovid~d.
19_ That Mp~fber with and in addition fo fh~ ~~ponlMr poyaxnt ol p~iecipol ond iMerest popnble vnder Ihe terws o/ the not~ secvred herebr, Mortgogor
i sholl por tp Mwt9ap~e eoch wonth ~at~ suid nole is F~IIp paid, one-Mrelit6 /~p) o! a wiw equol b tbe onnual prewiww d~e lor fire, e:rended coreroge,
~ ond other ho:ord insuranc~ cor~riny flw mat9oyed properry, plus ro:ea ond osstasn~eny neat due on t6e wwtqop~d properlp (dl m estiewted bp Mort9ogee)
~esi oll suas alreodr poid Me~~for, ond fo b~ di~ided br fhe nvw~ber of eonths w dopse prior ro th~ dote when wcl~ to:ef ond osseua~enh shdl becow~e
delinqvent. Soid w~s slwll bt Atld bp Morlpope~ ie twit or credited to Me principol of tAe loon, ro por soid iwwrawte, Maq, ond osuuwenh and sholl
~ be opplied on Hro porsenr eMreof wben due. Anr eacess beld in tnrst br Mort9oyee whee soid looe :s poid i~ (~II alwll be poid ro Mortpopor. or his
~ ossigns, or persond represenMti~res. Iw tAe eoent ol o delavlt w foredosuro, wid s~ss held in trvst nwr be opplied on onr cosy of domoyes wstuined in
connection with ~ cdlection of the note secvred hercbr rhelher br svit, foreclosure, w ofherwise. Mo~tyope~ wop f~ww t~~e ro tiiwe ot its op~ion wa~re,
ond oher onr wcA woi~rer, reinstote any or oll prorisions hereo( requirieg s~ch deposits, bp wotice b/Ybrtpopw in ~r~iti~g. While awr svch ~roirer is ~n
efFecf, Morf9opor sAo1) poy la:ti, m~esswenh ond insurance premi~rws os herein elxwhere pre~ided_
~ lN WITNESS WriEREOF, ~M said Mortyapo? hern,nro a~n hi~ h~nd ~nd p~l ~his tM dryr w~d yw f~nf ~Do~ wntt~n. -
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S,yned, se~led Md del~vered _ - - - (SfAI)
~ ,h• a~s~^~• Richard L . Canant
~ ~~LliY.tG 7j.~ ~'Cji.rILLL._--- - - cs~ni~
~ ~ Valerie M. Canant
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~ I / • ~f- ~rt C~ c • ' ~ '
~ -tOttcL" /.J/ - ~~Z-~ ~ . _ . _ -
~O~K~O~ PACE~z~ . ,
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