HomeMy WebLinkAbout0529 Our file 5-25,190
this monsase or other transfer of hUt to the mo~t`a~ed prope~ty in exunswshme~t ol tAt ~ndebtedncss sccurcd he~eby, all r~ght, utle
and inte~est of the Mott~a~a in and to sny inswance policiea thcn in torce shall pass to the purchase[ or ~rantee.
(A) To pe~(orm, comply with and abide by each and every tAe st~pulat~ons, a~rcements, conditions and covenants ~n ca~d p~umi.sory
note and in th~y dted set forth.
(i )'Thst it ~ny of said sums of money herein referrcd to Ee not promptly and fu11y paid r•nhin hfteen days next atier
the same severally becanes due and payable,a it each and eve~y the stipulations, aereements, cond~tions and covenants o( sa~d prum~.-
say note ~nd this deed, ot e~ther, are not (ully pertamed, complied ~rith and abided by, the ~a~d aggregate sum ment~ontd in said
pran~ssory note shal! becoms due and paya~le fortAwith or tht~eaftet at the option of the Mortta6ee as tullY and completely as it ~hr
s~id ai~repte sue? o( said ptomisswy note ~ras ontmally stipulated to be paid an such d~y, anylhma m s~id prom~ssory note or here~~
to the contrary not~ithstandin`, i
l~) That in order to accelerate tAe matunty o( the indebtedne~s hereby secured, ~ecause o( IAe isilure of ~Ae A1o~tga~o~ pay iny tax, •
assessment, l~ability, obli~ation or encumbrance upon sa~d p~operty, as herein pro~~ided, it shall not be neces~ary a reQuisi~c !hat the
mats~~ee shall fi~st pay the same, .
2. The Mortgagee may~ at his option, and without waiving his right to acceterate the indebtedness hereby ~
secured and to foreclose the same, pay eiti~er before or after delinquency any or all of those certain ob?igations
required by the terms hereof to be paid by the 4lortgagor for the protection of the mortgage security os for tbe col-
lection of the indebtedness hereby secured. All suins so advanced or paid by the Mortgage~ shall be charged into
the mottgage account and become an integral part therto[, subject in all respects to the term~, conditions, and
covenants of the aforesaid promissory ~ote, and this mortgage. as fully and to the same extent as though a part •
o[ the original indebtedness evidenced by said note and secured by this mortgage. excepting however, that said
sums shall be repaid the Mortgagee forthwith upon its demand and be in addition to the regular monthly install-
ments provided by the mortgage note. ~
3. That the abstract or absuacts of title covering the mortgaged ptoperty shall at all times. during the life
of this mortgage, remain in possession of the Mortgagee and in event of the foreclosnre o[ this mortgage or other
transfer o[ title to the mortgaged ptoperty in extinguishment of the indebtedness secured hereby. all right, title
and interest of the Mortgagot in and to any such abstracts of title shal) pass to the purchaser or grantee.
4. To the eztent of the indebtedness of the Mortgagot to the Mortgagee described herein or secured hereby,
the 1lortgagee is hereby subrogated to the lien or liens and to the rights of the owners and holders thereof of each
and every mottgage, lien or other incumbtance on the land described herein which is paid and'or satisfied, in
whole or in part, out of the proceeds of ihe loan described herein or secured hereby, and the respective liens of
said mortgages, lie~s or other incumbrances, shall be and the same and each of them hereby is preserved and shal! ;
pass to and be hetd by the Nortgagee herein as security for the indebtedness to the Mortgagee herein described
or hereby secured, to the same extent that it would hav~ been preserved and would have b~en passed to and been
held by the Alortgagee had it been duty and regularly assigned, transferred, set over, and delivered unto the Mort-
gagee by separate deed of assignment, noiwithstanding the (act that the same may be satisfied and cancelled of
record, it being the intention of the parties hereto that the same will be satisfied and canceiled ot record by the
holders thereof at or about the time ot the recording of this mortgage.
5. In the event the ownership of the mortgaged premises, or any part thereof. becomes vested in a person
other than the Mortgagor, the ~lottgagee may, without notice to the Mortgagor, deal with such successor or suc-
cessors in interest ~~ith refetence to lhis deed and the debt hereby secured, in the same manner as with the A1ort-
gagor without in any way vitiating or d'escharging the Mortgagor's liability hereunder ot upon the debt hereby
secured. No sale of the premises hereby mortgaged and no iorbeazance on the part of the A9ortgagee. and no ex-
tension of the time for the payment of the debt hereby secured given by the Mortgagec shall operate to release,
discharge. modify. change or affect the original liability of the Mortgagor herein either in whole or in part.
6. The lien of this deed secures and shall continue to secure payment of said indebtedness or indebted-
ness, however evidenced, whether by said promissory note or any renewal or extension thereof or subslitute there-
for, or otherwise, until all such indebtedness shali have been fuliy paid.
7. /n the e~~ent the mortgagors sell, convey or trensje~ the n?o~tgaged premises during the lije oj this mo?t-
gage, therr this mo~tgage shalt. at the oplion oj the Alortgagee herein, become immediately du and paya6le jor tl~e
Jull sum oJ the principal balance and inte?est then due.
8. The tenns "Mortgagor" and "Mortgagee" whenever used in this instcumec?t 1 include the heirs,
personal representatives, successors and ass~gns of the r~s}~ective parties nec tu er ~ r usad the singular
number shall include the plural and the plural the singula~ the u~,~ f any e sha i~'tp3't ''~i~3er~.
Wi ss ~s o Wi11i ~Knight ~~~'`'~'~L ~~~Seal)
an attie ~ean Knig~it: , ~ - . • - ~ , ~
' ~:,,:j t. c~
Sig d. ealed and c~elivere ' the presence of: (5~~~
~ C~ . . .
~ (S~al) {
• tnes t Mi1dX~~ L~. G.~;~t~~on :
CO RADO ~ .
STATE OF ~~!~I'~X I 2-L ~
COUNTY OF~K` ss
ARAPAHOE ~ 1~1ILI.IAM KNIGHT and TTIE JEAN KNIGHT, his wife,
Before me personally appeared eY' kIIO~. 8s MATTIE JEAN GLINTON CAMPBELL ~ SS
to me well known and known to me to~~~ri~~s~d~~L~il~~~n ~~~~xecuted the foregoing instrument, ?
and acknowledged before me that they executed the same for the purposes therein expressed. WITNESS my hand
and officisl seal in the County and State last afaresaid this 1St Day of August, Z972
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Ypf ~ocm~tuion explres Sept.30,1975
~1y Commission Expires: Natary Public. State of
aoox 20s PACE 5?$ ;
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