HomeMy WebLinkAbout2345 7. If a~y o/ ~M ~w~r of nwMY Mr~in ~~(~u~d ro b~ na v~wro~ly ~nd fvlly wid w~~A~n th~ny (]Ol d~n Ma~ ~f~N ~M s~ ~~v~ralir Mcorn~ d.~ w+d wr~A1~.
a if ~ach u~d ~wry NN qipvlN~ont. prMnrnb. condi~iau. ~nd coven~n~s o1 ~~id promi~~ory noN ~nd Mis inw~p~p~. w~ltAr. ~n no~ duN w~fam~A. co~n0l~~d
wifA uwi ~Eid~d pY. fM pyep~~~ w~n nHn~~wwd in t~id wani~sall noN aMll ~con~ d~,. .sa wr•ea ~a~nwc~~ w~Mr~a1tM H tA~ uv~ion ol tM Mo.~9+9N.
fully ~e~d cawbNM p 1f uid yprp~q swn ol ~nor~y wa aipin~lh ~h0ul~~~d p b~ Wid oP wch d~Y. anYMiny in s~id pan:»ory ~oN a M~~in to N»
conlrYy nOfwitAflM~dinp- '
To d~1~vM lo ~id Mw~papN. on a Mfa~ MarcA IS~h of NcA Yw. t~¦ ~K~ipH ~vid~ncina N~ paYn»m o! ~11 I~wfvlly impo~~d b:N ta tM pr~c~d~y
cahnd~? Y~u. b d~livrr b~~id Ma~q~pN. r~c~ipn ~vede~cinq th~ p~YeMM of ~11 li~ns Iw p~blic impov~m~nh wifhin niew~y (90) d~Yf ~I~N tM ~~en~ ~MII bKawN
dw ~nd vw~pN. w~d a WY a dixhup~ wiMin edn~h (o0I d~ri ~hp dw d~a. any ~nd ~II pov~.~mMUI 1w~„ ~M~ nyy b~ ewd~ on NN na~~9+9~d P~~M.
on Mis mat~p~ a noN. or in ~ny WMr w~y r~auhinp /ran tM AAa?~p~ indtbqdnt~s s~cw~d by Mi~ ~na~qay~: w~d ii Mii conditan b~ nW cornpli~d witA ~nd pa-
fa~d s~Id ma~WpN m+Y WY such ~wn p ~wm wAich ~lult becarr parl of M~ d~A~ f~cw~d bp fAis nw~~q~y~. ~nd sMil bew inlNpl ~1 ~M ~~N o! tia pa c~n1.
f0%) PM «Mwwi. wY+bh s~ai•+~rw~lly un1i1 p~id w~~id AAa~9+y» rn~Y ~bd M~t u~d mor~yp~ dept tAN~upon b~com~ dw ~nd p+y~Dl~ faMwiM.
9. It i~ fw~M? co+~nant~d ~n.i ~qrNd by ~aid puti~s dut :n ~!w ~wn1 of a auit b~inq ~eattw~ed to 1w~clos~ Mi~ maty~p~. ?M Mortp~pN aMll E~ ~n~irl~d to
ppN ~1 ~ny tinw p~ndinp sud~ Eoncb~w~ wit ~o fM cowt Mvinp iwiadctian tM.wf for ~h~ ~ppoint~n~ o! • r~ceivM o} sll ~nd ~tnpulx Mw mwtp~p~d popKt~.
~nd of ~11 ?I» ra~„i~coM~. pofin. juuy ~ wwnw~ ~w1. iran wAaao~w~ ~owc~ drriv~d: u~d tMr~upa~ it is Mr~by •,pK~1y eoveeyn~ed ~nd prNd
du~ ~M cowt sha1l~~~aiAwi* ppoi~u • nc~iv~? o s~id mor~p~y~d pooe~hr. +11 ~nd si~pul~r. ~nd of such r~nq. iecon~~. pofits. i~~ws end ?~vrn~w tMr~ot. ~ran
wA~tswwr wures dKived, wi~A ~M vawl povwn ~nd dutiy d nce~vert in lik~ c~a~s: uid auch appo ntn+~nt aMll b~ ~nad~ by s~ch cowt ~s a rna~~ of atrict ~iyA~
ro N» Allony~q~e. ib wu~ssw~. bqil r~pp~nutiva w au7qn~. «+d wi~i+aA rdNa~c~ ~o ~M ~d~awcy or in~d~pu~cy of tM wlw of tM w~fY ~~bY Tw~9+9~.
a W tM ~olwney a insolvsoey of ~ AAortp~por. and tM~ ~~ch ree~t, qolib. ineo~, iuws uid ~~wnwa sMll ~~ppli~d bp ~ueA r~c~ivK to ~M paYm~m o( Nw
naMqap~ ind~budn~s~, ewb ~nd dwpa. ~ecwd'aq a Nr ad~r ol ~ueh co~x1.
10. M~ convwae~•~W b nrd~ Ajr tM Matp~pa o1 Nr p~rntsN hv~iw deuribd. o~ ~nY wn thkwf. w~thwr~ tM writNn cauenf of Nw Mortp~pw. ~nd
witAp~ ~aiwnption in rp~:lar forw oi law by ~M pwot~a o( IM obl~p~tion w th• Mwtp~~ aeH~d Ey s~id panii~ory eqN Md 11fis nartp+p~. tMn, ~nd in Mat
~wnt. ~nd N ~?w opfion d tM Mortp~pN. ~nd wiMarl nWic~. ~II ~wm of mar~ a~cwed l+ereby sM1I inuMdi~Nly ~nd concwr~ntly wiM sucA conwyw~c~ b~cowr
dN M~d WY~b1~ Md ie d~(wlf.
11. TM~ in ~M evem 1M puniats I+K~by n+ony~p~d. a~nY pu~ tMr~of, sh~lt E~ condeenn~d ~nd ~ak~n fa p~Wie uN u~der rM pow~r of ~ernf dwn~in,
~M Mortpp~~ slult Aav~ Nw ~iqh~ a d~nw~d th~t all dMn~y~ awud~d for tM t~kinq ol or damay.a ro said p«+us~a sl+.Il b. w~d a ~M Mw+p.~ up a N+. •moun~
tMn unpaid on ~his mor?pp~ ~nd at tM option of Nr Mwtq~q~ ~Y b~ ~PYG d upon th~ p~Ym~nq I~st p~y~AN tMr~o~.
12. 7M mo.~p~pw b~nds Ainuslf na fo «~ct w pwnue ro b~ «~et~d ~ny n~w bu~tdeqa on tM w~+u Mr~in mw+p~y~d « ro ~dd ro« permir w b~ ~dded
q~ny of N» ~:ist~~q iaprowm~nK ~Mrwn a n+ak~ ~e~y clw~p~s a ~Itatliona in s~id improvtrn«+t~ wAicA rnHNiallr elw~p~ tM suM a tM ua~ tMreoi, w~Mout
tM writNn cons~nt o! tM Mw~q+qN. ~nd in Mw ~veM of anY violation w~neinW to v:otaN d+it st~pu4tion thi~ morty~y~ ~nd ~11 suins secured hN~Aq sMN im-
nwdi~fey bcan~ dw ~nd coll~cribA ~t ~M option ot ~M N1w~p~~.
13. 11 is ap~ciitully ~9re~d tMt ti~ is of tM ~»~nc~ oi thi~ conu~ct ~nd ~Mt no wdwr oi w+y ob'iyation Mrwnder a of tM oeliy~tion a~cwed herebr a?~+It ~ny
tim~ A~ Aeid to E~ • waiver o( tM tvms Mrwf w of ~M ime~u~nen~ secur~d her~Ey.
14. t~ ia~cloiw~ pocMdi~qs of any s~cond mortp~ye a s~cond tr~at d~~d or ar+y j~n~a ti~n of ~ny k:nd ahould b~ inatiwhd, tM Mortqayw m~Y. N its op~ion.
im~diat~y w Mw~aher d~clu~ ~his mw~p~p~ and tM u~d~b~~drwss s~cwed I+K~by dw M+d wv+a~ faMwitA, ~nd ~r N ita aption pvoceed ro t«eclo» this
rnortq~y~.
)S. To tle~ ~aMnt of tM ind~b~dn~ss of tM Mwip~yw b?M Mort~qee d~av~bed here~~ or secv~~d hereby ~M Mor~qpe~ is Mreby subroqNed ro the li~n w
I~~ns ~nd to th~ riyht~ of tM ownas ud holdcn Mereof of e~ch and ~wry nwr~g~ye lien w aMr irtcuenbrw~c~ on ~M I~nd ducri~d herein whicA ia p~id ~nd?a
utis/i~d in whob or in pan out of th~ pocetda of tM Iwn desaibed herein w s~c~red I+Neby, and IM respectiw liens o/ sud mortp~qes, liens a od~x ~ncumbra~ces
aMll E~ snd tM. ~arr.~ and ~acA of theen Aeresy is a~sened and ah~ll pass to and b~ hetd Ay Me Mor~ype~ M~~in ~s suwi~y fo~ th~ ind~bt~dne~s ro Me INor~paqN
har~in deacrib~d a her~by stcwed. to Nu sam~ e~Mnt that it would haw Eecn p~serv~d a.r~ wwrfd have been wssed w and been h.ld by ~M Ma~y~y.e Md it been
d~h u~d repularh ~isiyn~d, transl~rrsd, s~t ovar ~nd delivered unto the Mwtg~gee by s~puat~ de~d oi ~ssiqnmenf ratw~ths~~ndinq tM fxr th~t fh~ sane m~y be
utisf~ed and unc~lNd of r~cad, it Deinq tM imention of tht px~ies I.erero that ~h~ sam~ w~ll b~ sat~sti~d ~nd carctlled o} recdd by 'he hol~rs thereof at a ~bov~
th~ tien~ ot fM ncadiny of this mortqaye.
16. To pay all and s~nqula. rhe cosrs, cha.ges and e.penses. ~nclud~nq lawye+'s fees, rusonab~y ~ncurred w pa~d a~ any t~me by ~he Monqaqee. btca~se of Me
Fa~t~re o1 ~he Mwrgaqo. to pe~form, comply w~tA and ab~de by ex~ and t.ery the tnpulat~ons, aqrecmenfs. co~d•honf, and covenants o~ sa~d Drom~sswy noee and ~h.s
decd. a arher, ~nd eve.v suc~ paY~ts s1+a11 bea. ~n~erest irom dare at rhe ~ate pro~~ded ~n sa~d aomnsay no~e
17_ Wh~n any ainocwH of mwNy ro b~ p~id by tl» Mw~y~9w to 1M Morfyaq~ unde~ th~ tenns I+~r~of sMll b~ in d~fwlt. a should tM Morfp+pa d~Ea~It in
~~y of tM otMr terrm, poviaions or cond~fions of tAis Mwty~qt, tMn ~nd in th~e ua~ the Abr~p~qe~ ahall Aaw tM ripht, withovt no~ice ro eM Mwtp~qw. to
collect and ~eceiw hom ~ny tenant w iNSSe~ o/ said ~nwt
q~yed pNnises ~M renq, issues ~nd pofits of tM ~NI estaq he~~by mwtpaqed ~nd tM ~mpovsTen4
thereo~, and ro y~vt prop~r receipts a~d acqvi?t~nc~s ther~fa, ~nd ~ite~ psyinq •II com~niss:ons of ~ny r~m~t ~qent colkttirg tM s~~. ~nd u+y re~sonsbl~ afarnty i
fees ~nd oM~r neceusry ~ap~ns~s incw~ed i~ collMiny sa~ne, to ipph tAe proceeds of avch colkctions ~rpon anY indebt~dntsa, obliy~tion or IiaDility. of M~
Morrp~yor heratiw~d~r. TM ripht qranted fh~ Mwty~yaf under this pN~9r~ph shall b~ in addition fo. ~nd shall not limit w r~strict. ~nr otMr riyM w riqhh yranted
tM Mwtpaya~ in fhis Mortp~p~-
18. If th~ Mor~yaqws af fhe fim~ of mskinq fhis Mortqp~ w s„bseQwnt fhcr~ro uk~ o~t I~Ie inswanc~ des~yna~~np tM 1Horty~pe~ herein u benefi~i~ry w~~h a
co~w+m~ ~owored by tM Matp~ye~ a aasiyro pol~cies ~o tM Matq~qn ior th~ pwpose o! secw~ny tM mwtpa~ loan hertby secwed, then tM Mortys9e~ ah~ll
h~ve fM riyAt b paY any praeiwn ~ccr~irp ~nd~r s~id policip, and ~II sums so eapended shall b~ ~dd~d to ~nd b~cary • pu? of tM p:ncip~l indebtednets seart~d
~ by thia Mortq~q~ snd al+~ll be paid br tM Morty~qw to IM Mottpa~ in twelv~ epwl cauetu~ive mp~Miy insqllrnents, th~ fint mw~Mly i~st~t6nant ro b~ paid ~s •
I p~rt of end in addit:on to tM ~nonthly paym~nr dw ~nder tAis Mort9p~ :n the first c~lend+r month followinq /M ~ipe~diep oI ssid swn. S~rch awas so sapend~d
~ ro bear in~«est rM r~t~ a~ wh~ch i~+fares~ is p~Y~bl~ upw~ s~id pincip~l indebtednw u.d tM lie~ oi tAis Morty~q~ sh~ll e~lend to ~nd secw~ tM sums so capended
roqsrher wi~h ~mer~sf ~Mreon ~a her~~nbefa~ provided.
19. Tlwt topetl~ with ond ie oddition b the wonthhr paye~ent o( principal and interest popable under tM Nr~s d H~e nott sec~red herebr, JNortyoqor
shdl poy b Mlortyop~~ ~ocb ~wnth unhl said note is fullp poid, one-tweHth (1 /12) of o w0 sqvol M tl~t annuol preiwi~w dve fo~ fir~, ea~cnded co~erope,
ond oMer ho:ard insuronc~ wrerinp tb~ aortpoped prop~rfp, plus twces ond esseas~enb ne:t due ow tM
~wt9op~d prop~ryr (dl os estiaoted br Mortyogee)
less oll wws olreodr poid tlKr~fw, owd to be divided bp tbe nrwber of ~wnths w dops~ prior w tbe dote wben wch ~oaes ond ossessw~nb shdl become
delinquent. Soid w~s s6o1) b~ Aeld bp Mortpaye~ iw fnrsf or a~dited 1o tAe principol d ti~e loon, b pop soid iws~ronu. loaes, ond assess~enb ond sholl
be opplied oe N~e poq~ent thereof wlKn due. Mr ~cess held in e.vst br Mory~ope. whrn wid loon i~ poid i~ frll sholl be poid /o IYlortpopor, or I~is
ouigns, or pe~sowd rep~esenbtives. In tMe ~rent ~?1 o defoYN w(oreclosure, soid wwn beld in trvst sor ba oppli~d ow oer costs d downyes s~stoined in
connection ~rith N~e cdl~aYion d tht wofe sec~red berebp ~rheN+er br suit, /oredowre, w oNmr~ise_ htorl9oge~ ~or fro~ fiwe to tiw at ih option ~roive,
ond ohtr anr sYCh roirer, reinsMt~ ony w all provisiows hereo( requi?i~g s„cb depos~n, br nofic~ to Mortpopw iw ~riti~p. While onr sucA woircr is in
efiecf. AAortyopor shdl pop fa:es, oisessw~enh ond inwronce prNwi~~n os herein elsewhere pm~ided.
IN WIiNESS W?IEREOF, t!~ s~id Mwt9a~a Mrwna un Ai~ h~nd ~nd ~d ~his tM d~y ~nd riar /~nt ~bow wr:tan.
~
~ ~j~...~.~' ~j _
` Sq.tcd, ae+led and delive~ed - (~ll
- - -
?n. a~x,~. o~: MABEL M. SCHLIMME
~ - - - - . . - - cs~~i~ :
-
? :
~ - - _ _ . _ . - - - - _
a
. '
._/~~ly'~~- ;.~,r _ ~i e_ - - .
~ BooK204 P~t 2344
~
- ~-r ~
y~ :
_F-~'~.~--~` ~ s--`~~ -