The URL can be used to link to this page

Home My WebLink About2625 ot tM Morts~ Mcoen~ ImanadbttlY du~ and payaW~ wlthout aoUa, aad proc~~dlnp myr ~ Inatltut~d b~? tM ~Rort- sa~ for tM s~covti7? th*r~ot ey lotrclosur~ ot tN~ I~[oet~~ ~ ot !n ~n,y o~R~r mann~r p~etNtt~d pr l~w u th~ Mort- myr N~ct. a~UMlat v? tM not~ or ta thf~ ~tortpp oont~ln~d to th~ oontr~r~? tt?~ato aotwltlLt~dity, Upon toew cla~sun ot tAls litotts~, tM Mart=aM sAW b~ alloa~d a a part ot tM fnd~et~dnas ~cut~d h~r~bY, ~nd tla Moet- ~asora~ews topa,~r~ W eoats and ~iws lacurerd ln ~~ctloa tMt~wttly Indudtns ew~onaW~ attorny?'~ hM~ ~wt ot tlU~ wad tax a~rch and tM sxNntlon to d~h ot ~n ~b~traci ot tltl~ or tlth pollcJ?: and ln aw wch tor~daun proa~d- tnp ar~ MtU~d b~tor~ the coe?su~unatla? N~r~ot or tli~ entry~ o! iudtm~nR arq? such cats ~nd ~xp~n~ ~?d otMe charse~ so incurnd. Weludle~ a teaioe?~bl~ attors~ tM, ~h~ll n~vertMlaa D~ pald. Tt?~ Mort~a~ or ~y?pa rty ln !n- t~res~ bNnt U?~ Nshest Dldd~r~ my? M~ purcl?a~r at aa~r tonclosur~ ial~. M~? N~ctlon OJ? tM ~[oetta~N v MrNa pro- vlded tor mq? M ~x~rcbM 1man~diatW? upon d~taull. or at Wy ttm~ tl~ereatt~r~ and notNn~ ~!?all a ooa~tev~d W D~ a walver ot =uc1? ri=At ua1MS ~vid~ncad by ~a lnatrumeat la wrltin~ to that ~Q~ct duly ~xscuNd by tM MortSyN. TM Mort~~or wdvM all risl?t ot liom~stwd ~W ~x~mptlan sn?nt~d py tM Do~utttuUon and Lavv~ ot ~'foeld. AND 7'[~iS MORT(3AtiOR 1~'URTHSR CONVRNANTS AP1D AQRES~: 1. Zb pq? tM Prlnclpal ladebtednea wlth Inter~st as tG tR~ aob pmvided. Zb pq monWy unto tM I~toMSa~N. !n addlUon to and at tM tlme and place for each p~y+neAt ot princlpal and tnhewt. ~n l~stallm~et ot ~acA ot tM tollow- ~~?Y (a) Taxes and asxauneatR ~en~n~1 or speclal. and W otAer chas~es lavled or to b~ I~vfed ~a1n~t th~ p»m4l~. tD) Premlums to beco~n~ du~ and ~pwrable for~ and to r~mw. tAe Insuranc~ on th~ pe~m D' an .na such otMr hasarda. oasualttss ~?d contlnpacNs as heceln provlded toc or rputtrd Th~ aawunt oi the respectlw month~j? lnatallmenLs shW M pual to tM amount ot tM annual~t w~~rp n~xt due (as KWnat~d Dy th~ Mort~~). lw W 1nstWin~nb already paid th~r~tor~ dtvld~d by tM aueab~r ot mont~ly Iq- st~llmenta tMr~ipr b~cwnin~ due rot later thaa on~ month pdor to th~ du~ dat~ ot aepr ~toA d~art~ ~nA sWl M suD- iect to lncrw~ or d~ere~ to the ext~nt r~Vulred to create a~ oi a moz?thl~? paym~nt d~t~ oa tM not~ ewt 1Ma tMn oe~ month prior to the du~ date ot W such ehar~e. aa amou~t ~utricient !or the paym~nt tMrwi wMr dw and py?abi~. In no event shall the Mortsa~ae e~ecelvln~ sucA p~yment D~ llable tor any lnt~rest oa ae~? an~ount pafd to It as h~nin rpuired, and tM money ao received may De held wlth !ta own tund~ p~ndtt~ p~ym~nt or ap~lloatloa tMr~of ~t h~rNn provlded. TM MortQa~or ~lull Nrnish unto the Mort~a~ at least SltNn days b~tore th~ due dat~ an oQlelal ~4t~tn~t ot tM amount ot ~ny taxes or a~ewnents next du~. and sucA Mortsa~ ahali pay tM aDow ch~?r~ to !M umount ot tAe th~n unuaad credlt Ueretor as and v?hen they bacom~ aewralU? du~ and p~yaW~. Tht Mort`~ mp?. at 1ta optlon, p~y ~ny of such eharQes when pRyable. ettt~er before or ~tter th~y ar~ d~Ue~Qu~nt~ wltAout noUa, or mak~ adv~ncw th~retor fa excea ot the then amount ot cradlt !or Wd char~M. TM ~xcw~ atnount advancM ~hW M tmmedlat~l~? du~ and p~yaDle to tha Mort~~ee and shall be secured as an addlUonal prindpal sum u~der tNs leutrum~nt and bar tM wn~ nte of interest Lrom date ot advaacement W~~ pNr~PV Indabtednas. M oQlclal r~a1Rt tMr~tor st?all b~ coadwlw widence of sucA payment and ot the vWdity o! such ch~rte~. Th~ Mortta~ m~y app11? ceedlts h~ld by it tor tM abow charQes. or any part theceot. on accou~t of any delinQuent inatallm~nts ot prlndp~l or Int~rat or ~ny oth~r py?ta~at~ raaturln~ or due under thta tnstrument and the amount ot credit ~x1aUn= at anY time ahall be reduced by th~ amount thereof paid or applied as herefn provlded. TAe amount ot the existin~ cndlt hereunder ~t the tlm~ ot any tranat~r ot th~ property shall without assl~nment thereof Inurs to tAe benetft ot the succeasor owner ot th~ property and sAa11 b~ appltl4 under and sub~ect to aU ot the provWons hereof. Upon the payment tn full ot th~ tndeDt~dnen, the amount ot any unused cradit shall be applted to the payment thereot. Tt?e Mori~a~es mey collect a"late che?rge" not to exceed Lour cents (4c1 tot each one dollar t=1.00) ot ~cl~ monthly 1nat~llment pty?ment required on the note and under thls Mortgage which is more than Aheen (15) days !n arrean, to cover the extra expense :nvolved in handling delinquent psyments. To pay. when payable, all taxes and essessme~ts, general or special, wacer renb and ~round cenU aad all oth~r charQes whatsoever levfed upon or assessed or placed agalnst the premises, prnvlslon for whfch hai not Men made here- lnbefore, and wW promptly deltver the ofiicial receipts thetrtor to the Mortgagee; to LlkewLe pay all taxes, a~trtm~nt~ and other charges. levted upon or assessed, placed or made a8alnst this Instrumen~ or the indebtednes+s or an~? lntetwt ot the Mort~aQee in t1~e premises or the oDligatlons secured hereby, pmvided that Ne p~yment of any such tax aaeth ment or charQe by the Mortgagor Ls not contrary to law or would not result 1n the pavment of an unLwNl nte oi int~r- ~t oa the Indebtedness hereby secured. In the erent ot the passage atter the date ot tt~b instrumeet ot an~? Lw ot We ' 3tate, or subdivWon thereot, wherein the prcmises are situnted, creati~$ or proWdlnQ for any tax, assemment or char~e ~vhich by the above provlso is not to be paid by the Mortgagor, the lndebt~dness tecured hereby to~et!?er wlth iaterest due I' thereoi?, ahW. at Lhe optlon oL the Mortgagee, become immediately due and payaWe. and !n the event p~yment there- i of ii aot made forthwlth. the Mortgagee may take or cause to be taken such actloa or proceedinQ as may be taken here- ~ under 1n We ca~e of any other defsult In the payment ot the indebtedness. I ` 3. To keep the Dulldingi and additions thereto on or hereatter erected or placed upon the land intured a~alnat loss f by dre and such other hazards, casualties and conUngerrctes, fncluding wer damages If at aqy tlme a state oi war exlsta or ! it appean to the holder ot the note that war is imminent, and in such amounts end for sucti pertod~. as may be requirad 1 lrom tlme to tupe by the Mortgagee, and to pay pmmptly when due aU premiums on such Insurar~ce, provLlon for pay- ~ ment of which has not been made hereinbefore. The pollcies ot insunnce shall Aave lose p~yabl~ provWons acceptable to { the Mortgagee and sAall be deltvered to and held by the Mortgagee, or as it msy direct, uattl thL Mort~a~~ b ptlsfled. ~ Renewal policies of fnaurance. premiums for whtch have been fully paid, are to be furnlshed to t2~e Mortta~ee at least niteen days prlor W the expiradon date of the lnsurance thereby renewed. T!?e lnsurance ahall be wrltten la compaNe~ appmved by the Mortgagee; in no event shall the Mortgagee be held responsible for fdlure to pay for any insurance wrltten or for any loss os damage growirsg out ot a defect 1n any policy or growing out of any iWure oi anq insurance company to pqy for any loea or damage insured against. In the event ot lws the Mortgagor shall Q1ve faunediate noUce by maii to the Mortgagee who may make proof of loss it not made pmmpUy by the Mortgagor; each insurance company concerned b. hereby authorized and dlrected to make payment for loss directly to the Mortgagee instead of W the Mort- ~agor and the Mortga~ee iointly; the insurance proceeds, or any part thereof, may be applled by the Mortge?Qee, at 1b optlcv~. to the expenses. it any, incurred by it tn the coUecdon thereof. to the reducUon oi the' fndebtednat hereby se- cured, to the restoraUon or repalr of the property damaged, or released to the Mortgagor without llablllty upon the Murt- gagee for such release. All policies of Insurance are hereby assigned to the Mortgagee as addlUonal security for the pay- ment of the sums and interest secured hereby; in the event ot [oreclosure of tN~ Mortga~e or other tramfer oi tltla to the premiies in extinguishment of the indebtedness. all righ~ tltle and internst of the Mortgagor In and to any fnwrance polldes then 1n force shall pass to the purchaser or grantee. 4. To complete within a reasonable Ume any buildin~ or buAdings now or at any tlme In the prooess oi erectlon upon ~ the land and to pmmptly repair, restore or rebuild any bullding or improvements now or hereaiter on the land whlch may become dama~ed or De destroyed. and not commit or permlt to be done or e~dst on or sbout the premiaes anythinQ whereby the premises shall become less valuable• to comply with all laws, rules, regulatfons, nr ordlnances of any gavern- ~ meatal agency and not violate or permit the vlolaUon as to the premises ot any bullding or use restrictlons; to keep the ' land and improvements thereon iree irom mechanic's and materlalmen's IIens and w1U not aufter any IIen superlor to the ~ lfen created by thls 1r~strument to attach to or be entorced against the premises. ~ 5. It detault be made fn the payment of taxes. asseasmenta, Ilens, ciaima, lnsurance premiums or any other charge ~ ~vMtsoe~ver. or any part thereot. or in the pedormance oi any act, to be pald or pedormed by the MortQagor under Uu providoru henoi. the Mortgagee msy. at ita option, malce payment thereof or pertorm any act requlred oi the Mort~a~or ~ la any form or manner deemed expedient and pay any other sum that b n~~cesiary to protect the securlty oi tWs Instru- ment; the amounb so paid, with interest thereon lrom the date ot such payrnent at the same rate ~s borne by the prln- ~ dpal indebtednes, shali be asseased as an addltlonal Uen on Ne pcemises and shall be ~dded to and beoome a put oi the indebtedneas secured hereby and be lmmedfately due and payable to the Mortgagee. My payment 6ereby authorlned to be _ made by the Mortgs~ee may be made according to any bW. statemeat or eaUmate furnlsAed or peecured irom the appro- prlate publlc office or the party claimiOg payment without inquirq inW the accuracy or valldity thereo~ and the recefpt of any pubDc oRicer or party tn the hands oi the Mort gagee shall be concluatve evidence of the validity and amount of tteaor w patd: the Mort~agee sMil, at its opUon. be sabrogated to any encumbrance, ilen, claim or demand, and to all the r1~ht~ aad iecudUea for the paymeat thereof. pald or dis~har~ed with the prlnclpal sum ~ecured hereby or by the Mwrt~a~ee under tUe pro~vWoas hereof, and any such abroeatlon rlghts atiall be additlonai and cumulative iecudt~ to thfs Mort- _ aoax 204 PA~ 2fi24 ~ . ~ G - . ~"~-~r~..x~ ~a~