HomeMy WebLinkAbout0527 6. To PN~urw. canOhr wi~A and aEid~ bY ~~ch ~nd ~vKY u~pu4uons, ~qrNm~nn. cond~~~om ~nd cown~nh in a~:d o~o~~twY noq ~nd d~ed aN 1wM.
7. If ~nY of tM ~wm of mo~y M~~in ~~tKr~d q M ~et paeP~M +~d fully p~id w~Min IAi~tY (~0) ~yf ew,1 ~i~p ~M sua~ s~wr~lly b~conw d;» ~nd WY~bI~.
w i! ~aA ~nd ~wry tM ~tipub~ion~, pr~na~M. ca~tiau. ~nd covM+ob of uid pranissuY noN ~nd Mi~ ~natWy~. w~~~Mr. no~ duly vNlor~d carol~~d
witA ~nd ~b+d~d bY. ?M ~YW~9+~~ 1VT nNnt~on~d in ~aid Wuni~wrY ~oN ~MU E~can~ dw Md. D+YaW~ Iw~Aw~~A w tMr~ah« a~ t!y oo~ion ol N» Mw~p~pw.
•s fuUy ~nd cow~oN~~h? u if uid ~qp~ep~n iwn o! mon~y wn aip~w~Iti ~Ky~Nt~d a b~ w1d ow sucA d~y. ~nvd+~o9 :n .,~d wo~n~uay noa a luain a tM
con~r~ry noMrdAsbndinp. .
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8. To d~liwr ro uid Mor~p+pN. on w b~iw~ Much ISM o1 ~~ch y~a~. ua ~ec~ipM ~vida~cie~p Nr p~ywwn~ o/ ~11 I~wfvlfy in4ws~d ~~,M fw M~ W~c~d~ny ~
cahe~du Y~+r, ro ddivM b~aid Mor~9a~. ~~c~~ph ~vidMC~nq ~M wr~~ of •II G~ns iw publ:c imp~w~~nts wiMin ~~nHy (00) d~Y~ aftp tM ~u.w d+all E~com~ ~
dw w~d WrieM. b WY « di~cMrp~ witAie nin~~y (90) d~ys ~h~r dw d~N. ~ny ~wd ~II povernm~nrd I~wes ~M~ inay b~ ~d~ on NH mw~p~y~d prooM~N.
on this mw~p+p~ w rwN. w in ~nY o~M~ w~y ~~sutNnq Iraw eM Ma~p~~ ind~b~~dn~u s~ew~d bp rAis ~nonp+yr, ~nd if Mi• eondifion b no~ eo~pli~d w~~A ~nd pa.
fa~n~d. uid ~nw~p~pN rn+Y WY s~* a~w^+ ~KA aAall Mca+r p~n ol N+~ deb~ etcwtd by tA~i mp~qaQ~. ~nd sMll Aear ~maNt ~M ~~a o1 sia pN c~nt.
(6%) W~ WY+b1~ a~n~i•uww~lly until p~id p f~id Maty~q~+ nyY al~tt tAH t~id inw~y~q~ dtbl Ma~~rpon E~co~ ew ~nd wr~el~ faMwi~A.
9. It i~ (w~Mr cown~nt~d w~~ ~wNd bY u~d w~~i~s ~M~ in tM ~wnt of • sw~ b~~nq inariwt~d to fa~ctow Nu+ mw~9~9~. tM Nlw~p+pM shall ~ enuWd »
~pply N inY tin» ptnd~np {1K~ faKlp~N• suit M tM cowt Mvinp Iw~sdicuon Mawf fa tM wpan~~nen~ oI • r~c~ivN o! all ar~d si~putu tM matpaq~d popaN. ~7
~nd of all ~M r~nM. incan~s. po(~». iuue~ ~nd r~v~nwt Nwrwl. fro~ wh~tw~ver sowce dM:ved: ~nd N~~upa~ i~ if hK~by •,p~ssly cowrumed ~nd prwd ~
rMt tM caM ~MII fwMwiM ppo:~t a ~~c~ivK ol ~+id ~nort9+9~ W~~~Y. ~II ~nd sinq„1~r, ~nd ol such nnb. inco~e~. wofib. ii~w~ ~nd nvenw M~r~of, fran
wMuoew/ wwta daived. wi~h ~M uawl pow~ra ~nd duriy ol ~ec~iwn in I~k~ usn: Md such ~ppo ~~nwnl aMll D~ eud~ by suci+ cowt u•~tre~ of ~hca r:qM
ro tM Mon9+YN. iU ~ucc~ssw~. N9+1 ~ep„~ntativM w ~s~~qns. ~nd wi~haA nfNenn to Mw ~dwwcy a in~d~qu~cy o! tM valw o( ~M wow~~Y l~acby ~nortq+y~d. ~
a a tM ~dvMCy w insdvency of eh~ Ma~p~por. +nd M+t such r~n~. pofin. inco+~. istws ~nd r~wows sh~ll b~ appti~d by such r~c~~vN ~o tM wrment o( ~M
mwtp~p~ ind~bndrwsf. co~b aed chu9u. accwdu+p a tlr adK o~ auch cowt.
10. 1/ ~ conwyanc~ ~hwld M~d~ bY ~M NIw~WOo? of ~M penuNS Mnin dea~ibed. p My pift IMIW/, wi~hout tM writt~n consenf of e1» Mor~ypN. and
wi~Ao~A usumption in ?pu4r fora oi ~+w by tM pwntN of M~ oW~tion a M~ Mwtq+yM cruted by s~id porni»ory noN Md N+i~ nwr~pay~. M«+, ~nd in tA~t ~
w~nt. ~nd tM option ot ~M Mwtp~p~~. ~nd wi~Aar~ nMic~. sll :•Mws of ewn~y i~cw~d hereEy sMll im~ditlely ~nd conevrnntly wi~A s~+ch conv~y~nc~ Mcom~
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dw ~+d WY~bI~ ~nd ie d~fwlf.
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11. lhat ie th~ event th~ MNn~s~s MrebY nar~q~y~d. a MY w~ tMrwi, aAsll M conde~d u~d ~~k~n for OuWic w~ w~d~~ tM vowM of ~m:nMt do~min,
~~~11 Mv~ tM riql+t a dMn~nd Nur ~11 dM+aqes ~ward~d fp M~ ut:np o~ a d+m+y.s ro u~d a~sM d++11 E~ pa~d ~o M» Mar~q.. ~ ~o eM +maK~ 1
tMn unp~id on thi~ monqaq~ ~xd at ~M option of th~ Matp~qN en~r b~ ppti~d upon tM p~ynwnb I~st p~y~bb tMnoe.
12, iM rno~tp~pw b~nds hiinseli not w~r~ct w p~rwdt ro A~ enct~d ~nY eww b~,ild~nys on ~Ae p.~isM Mnin rnortp~qd a ro sdd ro a perm~t to b~ ~dded
ro~ny Of 11N ~aialinp improvaMnts tAN~on a en~l~ ~ny cAanqM a NMr~tions in uid irrprw~~MnN whicA ~a/Ni~llp cMnp~ dM suM o~ N~e us~ tMreof, w~tAp~
tM w?in~n cons~n~ of tM N~wtp+qe~, and i~ Mw ~wnt of anY violaGon a~ne.nP~ ro viol~a ~hi~ s~7pul~~ion this inwtp~q~ ~nd all su~ro secwad Mr~btr s1u11 ~~n- -
nwdi~tely Mcan~ dw ~nd co14c~~bl~ ~M eWion o( tM Mort~pN-
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13. It is sp~ci(~cdly ~prNd Myf t~~ is of N+~ ess~nc~ oi d+is cont.xt and ~M~ no wa~re. o~ ~nr ob:~Wrion MrwndK w of Mw obl~y~e~on a.cvred I,e.ebr ahstl ~t ~nr ;
~irr» b~ MW to b~ • w~iwr of Nw tw~ru he~w1 a of tM irutrwn~n~ secw~d herebri -
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1!. 11 ia~ctasw~ poc~dnqs of ~ny s~cw~d mor~o+9~ « s~cond ~rust dNd or ~nY ivn~or I;en of any k~nd sAould b~ inu~tv»d. M~ Abr~pase~ nuy. a+ ~ea op~~on.
~mm~diaNly a tMn~iter d~c4re th~s mwty~~ ud fM ind~b~~Msss a~cvr~d hK~bY dw ~nd WraDl~ (w?AwiM, and ~y st in opnon Proce~d fo iw~cloae th~s ;
mwtq~q~_ f
13. To tM eatent of tM ind~W~dn~~~ of tM Mwtq~qo? a fM JYlwtq~qee ds~cr~bed lu~e~n a secured hereby ?M Mw~ppe~ ~a hereby~subroqat~d ~o rl:e i~en w ~
I~ens ~nd a 1M riphn of th~ owners and holdtrs N+creof of e~cA and ~very rnorrqaye lien a otMr intwn~rwrc~ on tM land d1KriMd hertin wAith is paid ~nd/a
satisfi~d in whol~ w in pM out of tM procesds of tM loan descr~b~d her~in w s~cued hereer. and ~M respecrive liern of said mwtyaqes. I~ens u otAer ~ncumbrancea :
sMll b~ ~nd tM_ swr.~ and ~ach of tMm Aercby is peurved and sM~ll pns to ~nd bt MW Dt~ ~~Wa9N M?~in ~s secvriey for ~M indebNdn~ss ro tM Mort9aqe~ ;
h~~tin descnE~d o~ hereby secwed. ro tM ssme ear~n~ tha~ it would h~ve been prescrv~d and wo~ld hav~ bee~ paase~ ~o and been Mld by ~M 1Nor~pay~e Md i~ bcen ~
d„ly ud rpvlarly ~u~yned, transfNred, sN over snd deliver~d unro ~M M«eqpee by sep+rare de~d of ~ss~pnmem no?w~Nu~~nd~rq th~ fxt th~r ~M s~.nt m+r De 3
sar~afied ~nd uncetted of r~cad, i~ be~nq Me ~menuo~ of M. wn~es hereto ~hee the sa~ w~ll b~ i+t~afied and ca~celled of recwd by ~I+e Iwlders ~Mrwl or ~bour ~
rh~ t~m~ of th~ r~cad~nq of Mia mor~qaqa ~
lb. To paY aIl and vnqul~r +l+e coin. cM.qes a~d e.peofes. •~+c•~d~~g ~av`ye~'s fKS. ~ea~o~sbtr •K.,ned or pa~d a~ any *~me b~ ~h~ Mo.rqagee beca~+e oi ~he ~
'a ~~~e oi ~re Mw~qag:x ~o pt.lam. complv w~~~ and ~b+de ~y exh and eYery ehe anp.,lat.ona, aqrleml~h. Cw+d.t.Ons. ~nd covenanb of u~tl pom~sso.Y r+o~e a~d ~h~s
~eed a arhe.. and erery s..cA Dav~^e^ts shall be~r ~meres~ Irpn dare ae ~he ra~e prov,ded .n ~a~d orom~ss~Y ~or~ .
17. 1M~en ~nY ~ena+~t of mwwy to b~ p~id by tM AAwtVayo? b tM Morty~qe~ ~nde~ the terms Mrwf shall b~ in d~(~ult. a should ~M Mwryspor default :r
any of tM othtr terms, povisions a cond~tioen of this 1Nortqaqe. ~hen ~nd in thae us~ the Mwfgaqe~ ahall haw ~M riyht, w~rhouf not.ce ro the Mor~9agw, fo -
col~«t snd r~c~iw from ~ny ten~nt q ~esse~ of uid maty~ped pem~ses tM renb, iuues ~nd profirs of tM r~al esNr~ hereby mwr9~yed ~nd tM ~mprovemenb
rherewy and ro Wr+ w~W~ ~«~ip?s u~d acpvin~ncp M~erefor, snd afte~ p~Yiny alt cam+uss~ons o( ~ny r~nql pent cdlec~ing tM a~ne, and ~ny reasw:able ~nwney's
~ees and ethtr nareuary ~apens~s irrcwred in coll~din9 s~m~, ro ~pph th~ proceeds of such collec~~o~s ~rpon anY intl~btedness, obl~y~tion a h~bil~ty. of tAe ~
Mo.rqpw here~nder. TM •iyAt pr~nted the Mwty~y~~ under th~s parpr~ph sfull be i~ add~~~on fo, and shstl na I~mie w nsn~cr, any orAer r~yAr w nphta qr~Ned
MW19i9l~ MI 1~1is ~O~t~~-
18. If d+~ Mortqayas at tht tien~ of ~nskinp this /Nortqay~ w s~Espwnt IAerero t~k~ out 1~(e inawu~tt dtsiqnatie~y tM Mortpayay Ixrein ~s benefici~ry w~th s
co~.+psny appoved Dy Ha Morty~~ a auiqro pol~cies to tM Matq+ye~ fw fM pwpose ot secwiny tM mortp~q~ loan hereby secwed. H+en tM Mwtq~pee ~ha11
! Mve tM r:aAt M pay ~ny paniurn accruinq und~r Nid pO1Kilf. and ~II wms so e,pended sMll b~ added w~nd b~corn~ • pur of tM pincip~t :ndebtedness secur~d
f by Mis Mwtp+y~ ~nd shall b~ p~id by tM Nbrtqayw ~o tM Mwfyaqee in twelv~ eqwl consecvt~ve monMiy installmenb. ~I» i~nt monMly irotallment to M p+~d ~s a s
~ part of end in add~tion to the inw+fl~lY p~Ym~nt dw K+der th~s Abnq~q~ in th~ (int c~lendar mon~f~ follow~ny tM •spee~dinq o! sa~d s~xn. S~h sve.n w•ipended
~o be~~ ~n~est at M~ ~stt at whicA imerest is p~y~bl~ upw~ u~d pinc:pal ind~~tedness ud t?w (~en of th~a Maty~y~ shalt eatend to ~nd sec~r~ fhe swas so e¦pended ~
/bgerhe~ viri~A inw.nf tAereon ~s her~mbeia~ povid~d.
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~ 19. Tlwf foq~tUer wifl~ ond in addition b Me ~on/Ny porwnt o( priacipol and interest poyable und~~ fl~e Nrws o( tbe note secvred herebp Abrtgogor s
~ shail pop b Mort9ope~ eoch wonth ~d~ wid noM is fullp poid, onrt~eliM (1,/12) of o w~ eqvol M fAe onnuol pre~i~w due fo~ fire, e~tended coveroge. :
and other Iwtard insuronce co~~rie~ tbe wort9aped prop~rtp, p~vs toaes oad oasess~enh neat due ow N~e w~wf~ap~d p?operyr (dt os esti~wted by Mort9ogee) a
lest aq wws olreodr paid tA~rsfor, ond to b~ divid~d bp t6e nuiuber o! wonths w elopu prior ro N~t do~e ~bew sucl~ ts~ces ond osse:ssents slwll become
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delinqueM. Said wrws shoB b~ Mld bp Mwtyop~e iw trust w a~d'+ted b N~e pri~apol of t6e loon, b pop soid i~inronce, ro:es, oed assesswenb ond sholl
be opplied oa the pop~ent tMr~of wMn dw. Mr eacess Mld iw hust bp /rlorlyopee when suid baw is poid iw f~dl sholl be poid ro Mwt9opor. or his
assigns. or persond repr~senbti~es_ In N~e erent of o defauh a foreclosure, wid wss held in trYSf wor be opplied ow owp cosh oF dowwyes sustoined :n
connection witl~ tbe cdl~diow of t6e aoN secvred btrebp vhdher br s~it, fo~edosure. w otberv~iu. INorqopee iw~r (ro~ tiw~ ro ewie at it~ option wo~~e,
ond after ony f11CA M1a1vN. r~instob onr or oN pro~isions hereol reqviriny wch deposib, bp notic~ b MortyoQw iw ~rriti~9. While onr sucl? woiver is in
effcct, Mortpopor slwll por twces, msesswroeb ond insuronce pre~iuan as herein elxrhere pre~ided.
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~ IN WITNESS W~IEREOF. ~M uid AAorr9spw h~?~,e~a sm Ai~ Med ~nd s~+l ~his tM d~r ~nd ln+~ f:nt ~Eo~ writt~.
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