HomeMy WebLinkAbout0449 6. To pafarn, comply w~M ~nd ~bid~ by ~xA ~nd ~wry ~t~pula~ion~. i9tNmMh. cond~nona ~nd cow~anb i~ •~id Wan+uor~r ewt~ Md dNd ~N iaM. j
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7. If w~y o! tM ~w~r ot nwn~~ M~~in nfa.~d a b~ no~ o~wro~b ~ fully p~id wirhie ?A'uryr (JO) days n~at ~f~N ~M sanw ~~wr~11y b~con» ~~nd Wv+b~~. i
a if ~ach u~d ~wry N» stipu4t~au. +v~~nM. cond~tioro. w+d cown~nn d~~id v?on~iuery eaN w~d thM w~~Mw. v~ na duM w~am~d, caro~~~d ;
witA ~nd ~pid~d OY. rM ~yy~W+N ivm ~Mnnwwd ie sacd wanissory ~+ot~ ~MN bcoiN dw ~nd P+v~bl~ +a~lA NA a M+w~aUw i~ tM oc~~on of ~M Ma~y~yN, '
fully ~ed eawhNN a if Hid ~yy~p~N ~u~n of morwy wa aipin~lly ~Npul~t~d a b. wid on sueA d~Y. ~Minp ie s~id pran~~iory no1~ or hN~~n b 1M ~
t011HYy nOfWit~flNldif~ ~ ~
0. To d~livp ro s~id Morfp~q~, on a b~fon MucA 13tA of each Y~~r, qa renlpts widmcinq ~M p~yn»e~t of ~11 I~wfvlly impos~d t~a« ta ~M pru~d~np j
u1Mda/ Y~. ro d~livp b uid Mor~9~9N. ~~t~iptt witNneinq tM Wr~nf ol ~11 li~nt ior publ~e irtptw~nwe~N witAin nin~hl (90) d~rf ~(~M tM ~~ny ~MI) Meow~~ '
dw ~nd WY~Sb. ~nd ro MY a di~eM?p~ withi~ ninNY d~ri ~hN dw eMN. ~ny ~nd ~II povannwn~al Iwi~s M~~ rnay b~ n+~d~ on NN ~nw~9+9~ W~M. ~
on this mwtp~p~ a noN, a in ~ny Whw way rnulNnp fran ~M Matq~q~ indtbadnsss s~cw~d by tAi~ rno.~p~q~: and i} thit condition E~ not caepli~d wi~A ~nd per-
for~d, uid ma~p~pM T+Y WY such ~wn p awns whicA ~hall b~can~ put ot M~ d~W Ncw~d by this mor~qq~. u+d sMll be~r inN~w~ N M~ nN ol ~ia pN c~nt. ~
(6%) PK wrMR WY+~~ ~~~•~^M+~tly ueti) paW w t~id /Mortq~q~ ~Y ~IM MN s~id mwfy~p~ dtb tMr~upa~ b~tonN dw ~nd WY~~ faMwiM.
9. It if fwtAr. co+eewnbd ~nd +yreed bY uid psrtin eM~ in ~M ~wn~ oI • wit b~:np iru~i~~pd ro(a~tlos~ ~his rnortp~p~. N+~ 1iAonp~y~e sMll b~ ~ntithd a ~
~pply ~t anY ti~ p~ndinp ~vcA }a~tlww• wif w fM cow~ havi~q iwi~diction M~reof fw ~M ~ppantmam of • neeivN o1 ~II and sinputN tM enorfy~qed pop~rty.
~nd o1 all tM nMS. iaonw~. polib. haws a~d r~wnws 1Mreo/, (ran wl+atwwer sowce daiwd: ~nd NKr~u~wn it i~ hM~by ~,p~s~M coven~nud and Wr«d
eM1 tM eow? fM0 fw~AwitA ~ppoim • nt~ivN of uid ~nw~y~9~d M~«Y. ~11 ~nd ~inqular, ~nd of s~th r~nb. intane~. profies. issws end rwtnw tAu~of, iroiw
vviunwv~? sourn dMived, witA ~M v~wl pow~rs w+d duti~s o! r~ctiwn in lik~ c~sn: u~d sucA +PDO~nt~t slutl M inad~ by ~~ch cow~ u• rnanN o1 sn~ct ~~qh~ +
ro eM Mor~p~q~. its iuccason, Ip~l rpns~nbtivn w+suqns. ~nd witAan r~(Kenc~ w ~M adpwcy a i~r oi M~ wlw o1 tM popNry M~ebv muW~9~d. ~
a ro tM ~ofwncr or inw~wncY o( ~~~9a. +^d ~M~ s~cF~ r~nt. pro/ib. inco~, issws u~d rw~nuw aMll b~ applied by ~utA nc~ivK to tM wY~t o! ~M
~nwrp~p~ ind~b~~, cosn ~nd cMrqa, ~ccadinp fo th~ adu of such cowt.
10. If ~ cw~wy~ ahould M m~d~ by tA~ Ma?9~qw of Mw pan~sN h~r~in dsxribed. w any pHt tlwrwf. w~tAaA tM w~7tNn consem o! Nw Morty~qM. and
withoul ~uwro~~on in rpu4r faw of ~+w b~r tM p~ntN o( th~ obliq~tion ro th• MwW+qM cr~and Ey said pawissory nob ~nd ~Ais mwtp~p~. MNn. ~nd in Mal
w~nt, and H Me oWan o1 M» Maty~pN. and wiMoul notic~, d~ iums of nan~Y ~M+red MrebY +h+ll imm~di~~ely ~nd cw~cv~nntly witA s~cA conwY+M~
tkN and WY+bb ~nd ie d~(auh.
11. ThN in tM event th~ p~enia~s Mr~by nwrtp~q~d. a MY Put tMrwi, ahdl b~ eonde~ruwd r+d tak~n iw publie us~ w~d~r Mr pow« of wnin~nt danain, ~
th~ AWrty~pM ~11 Mw tM ~iqM ro d~nd tMt ~tl d~yes awud~d fw tM fakinp of w d~m+p~s b awd panisM sMll b~ wid ~o N~ Mwtq~qN up ro Nr anawu
tMn ~~id on Mis ~norq+~ +nd ~f Hr optan of tM Mwtp~y» nwy b~ apPli~d upon rM wr~a ~+s~ vw.~ ~
1Y. iM mwtp+yw binda hiinself not to ~r~ct or p~nnit to b~ ~r~ct~d ~nY n~w bu~ld~ny~ on ~M p«nia~s Mnin ear~p~qd a a ~dd ro w pennit a b~ ~dded
to ~nY of 1M ~:is~inq imp?ow~wnrs tMr~on a make ~ny cl.anqp a~Iftr~tions in said imp~ovamnb wh~A nr~ui~lly cAanp~ ~M umt o~ ~M us~ Mwwf. w~Mout
tM vrritten coni~nt o/ tM Mw~p+pN. snd in tM ~wnt of ~ny viol~tion or ~nempt to viotau this stipu4tian tAis mo~tp~q~ ~nd ~II wrm secw~d Mr~b1r ~MII i~
m~afely b~conw dw ~nd colbc?~bb N fM opt~on o( tM Mw~q~yN.
1~. 11 is sp~cN~c~lly ~preed tMt t~m~ is of ~ ess~nc~ ol ~hia ca+v~ct and that ao w~7ver ol ~ny ob'iq~tion Mrw~dtr or oi tM oblip~tion s~axed h~.tbY aMU N any
t~rn~ b~ M!d w E~ • wa~ver of tM -Mnu herwf a of tM iMhYn1M~ secw~d her~bv.
11. I( fa~closw~ proce~dinps of anY s~cond ~nw~p+y~ w s~co~d uuat d~~d or any ~~n~or liee~ o! any kind sAould E~ inatitvt~d. tM M«~p~ee msy. ~a op~~w~.
imrrrdia~~ly a tMr~ahn d~clws this mor~q+p~ ud tM ind~bt~dn~ss a~cw~d Mr~py du~ ~nd wrsEb (aMwitA, ~nd m~y iu op~.on prx~ed w f«eclou tAta
mortpap~-
13. To tM ~at~nt of tM indeb~edma~ of ~M Mlwtpsqw ro tM Mwtp~ps~ dnu~bed I+e~ein or secu~ed h~r~by tM N~wty~qe~ ia Atreby s~broq+~ed to tM lien a
liens ~nd fo IM riqhts of tM own~rs and holden tl~eof of exh and ~very ~nw~9~ye lien or othN incwnbranc~ on tM Iw~d d~sv~bed huein wAicA Wid ~nd/e?
a~tisfi~d ie who1~ a in p~rf out of tM poceedt of tM loan describ~d I+erein a secured Mreby, ~nd th~ respectiw lilns of ia~d ma~9+yn. ~~~ns w ahsr ~nc~mb~ances
slull b~ ~nd tM. sa~r.~ and ~ach of them herebv is ptserv~d md sMll ps~s w•nd b~ M1d M the Mw?p+qN hu~in as s~cwi~y fa tM indepf~dnass ro tM MortqaqM
hersin describ~d Or AereDy sKwed. 1o IM s~m~ earent thst it would Mv~ bten pnserv~d snd wpi'd h~v~ b~en pasa~d to ~nd been Mld by tM Mortp~q~~ had it beer~,
dvly and rpu1Mly a»iyned, transfened, set over and deliv~r~d ~nro tM Mortqaqee bv sepsra?e de~d of auiqromnt nolwithftandinp IM f~ct tAat tM s~m~ ~+ay be
sarisf~ed u~d c~nc~lkd of r~cad, i~ be~e~y ~M iMen~~on of tM pu~~es herero ~M~ the s~m~ w~ll D~ s+t~afied ~nd c+nc~lled of recad Cy tM hotders ~hKwf N w ~baut
rM tim~ of tM r~eadieg of th~a mw~qay~.
16. To paY and a~nq~ls~ ~he cos~s, chargts and e.penses, ~~.ctud~ng lawyer's ~ees. ~easonablY ~nc~rred w pa~d s~ a~y ~~i*~e by ~he M~vtqaqee. because oF ~he
~a~!ure oi ~he Monqaqor to perfwm, comply w~rh and ab~de by exh and e.ery the s~~o~lanons, sqrcemen~s, cond~twns. a~d covenams of u~d w~~sswr neee and ~h~s
deed. or erthe~. and e~ar such p~ym~.:~s shatl bear m~eresr from da~e N ~he ra~e p.ov~ded m sa~d p`omnswy ~wte.
17. Wh~n ~ny ~nount of moery to b~ p~id by tM Mortp~yw to tM MorlyapN w~d~~ N+~ terms Mr~oF aha11 br i~ d~favlt, a shovld th~ Mor~yapw de(avh in
sny of tM orF~er tavwu, povisioen p conditions of fhis Morfyape, tAen u~d in th~~ cas~ ehe Mor~gage~ shall INV~ tM riyht, wirhouf not;c~ to tM Nlwfqa9or. to
coltect ~nd rKtiw (rpn inY ~en~m or I~ssM o/ s~id mwtp~ped W~mius ~M rents, iuues snd polin of tM r~al ts~at~ hrreby ino+tqaped ~nd tM impovsmenh
thereon. ~nd a yiv~ rop~r nc~ip~s u~d acavinanc~s dw~efo~, u~d ~fter wYinq •11 com~+iaaions of any rentd pent tolkc~inq ~M sarne, u~d anY ~easa+ssle a~torney's
fets and oNw neceauy ~spw+s~s incwred in collecrin9 s~, ro apply tM Woceeds of svch colkct~wn ~pon anY indebt~ss. oW~y~tan a liabiliry. of the
AAaty~yw he~wnder. ~ ri9h1 qr~nted 11+~ Mwtysyee und~r tl~is p~rpr+ph sMll b~ in add~tion to, and sMlt not Lmit a~~strict, ~ny other riyht w riyhH qr~nted
th• Mortpsyas in Mi. Alortp~p~.
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~ 18. It tl+~ A~orty~qws ~t the tim~ of msk~np tAis M«tysq~ a s~bspwnt tAcnro uk~ out 61~ int~,r~nc~ dniqpatinp ~M Matqsqe~ herein ~s~ beneficivy.+v~~h a
j comp~ny ~pproved by 1M Nbrtp~~ w assiqro policies to tM Mortq~ye~ for Ih~ pwpos~ ot sec~riny th~ monyaqe lou~ h~reby secw~d. YAen th~ MwtWpse sMll
4 hsve th~ ~iQht to p~Y uiy pe.nium ~ccwinp ~rnd~r said policies. ~nd all swns ao eapend~d shall be added ~o ~nd b~ca+» • put of tM pr~ncipsl indeb~edn~ss secwed
~ by Mis Mwfp~qe and shall b~ paid by Mw Mwtyayw to ~1~ Mwtp~yee in twelw eqwl consecu~~ve monH+Iy inat~ll/nenta. ~M }int monMly inst~~linent ro b~ p~id ~s a
~ part o} rnd in ~ddition lo tM ~nonthly paym~et dw ~nder this Mort9ay~ :n tM (irst c~le~dar rtanth foltowirq 1M •apendiig of aaid swn_ Such sums so e~pendtd
fo besr if~1HHf at tM ~ate ~t wh~ch int«est is pay~bt~ vpon u:d pincipsl ind~bt~Mess and tM lien of this AMrtyay~ fhall e¦~end ro ~nd secw~ the suma so eapended
rogether wi~A inter~st thereon u her~.nbela~ provid~d.
~ ir. Teot topeii~ ~iH. and iw odd~tww b. tM aar.MSY pay~ant af pcin:i~w; oad 'u.sarest ~a~rat:a ::aisr t4s tar~s af ths aate tt:ured t~ere~. Mrs!gag=s
: n!! poy to 1iAori~apsP encL as:.ntli cnt~ sai3 acte is fvl~r gced. r.?ehre!f+l~ {)!12? o! o svm rsv~! ro~+r or+nral p~ren+w++ dnr 10. 1:.e, e~~ewded co~e.oqe.
and otAer ho:o?d inwraact corerin9 tAe ~nort9oped Property, plus tmes ond asse~swenb ne:t dw ow th~ ~wwt~oyed proper~r (dl m esti~oted br Mor?popce)
less dl wws dreadr paid tMrefw, and 1o b~ divided bp tbe nuaber of sonths w elopte p~ar ro tlw dote ~r6en wcfi taees and asstsswenls shdl become
delinqwnt. Soid tu~s sholl b~ Mld bp Mo~tyop~~ in bvst or a~difed b tbe principol of tl» looa, to pap soid iawrowce. Wxp, end asseis~enb oad siwll
be opplied o~ H~e par~ent 16er~of wlwn due. Mr eac~ss Irld in trust b~r Nbrt9o~ee when wid loow is poid iw full sAoll be poid w Mwtpopw. o~ Mis
assigns, or pe~wud repreunblires. In tIK e~ent o} o dcfovlt w foreclosure, wid w~s Irold in tr~st wwp be oppl:~d ow wr costs d da~wyes suswined in
connection witA tbe cdl~ctioa of Me nof~ secvred hereb~r rrhetber br svit, (oredowre, w otherv~ee. Mwqopet wor /rqa ~i~e ro fise ut ifs option woive.
and aNer anr wch rwire~. ~~instob onr w all pro~isiaws Aereof reqvirin~ wcl~ deposiri. bp no~ict M Mortyo9or iw +ritiwp. WAile onr such woi~rer is ie
e4Fect, Mortpoyor shdl pop roxes, osseaswenb ond insuronce premi~a~s os herein dsewl~ere pmridcd.
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IN WITNESS W~IECEOF, tM uid Morty+ya MrwNO a~ts his hand ~nA s~+l ~Ais tlw d+y ~nd Yw fint ~boN w?itt~n.
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