HomeMy WebLinkAbout0852 7. li ~ny of tM ~vm~ 01 ma+~Y Mr~in ~~f~rc~d ro b~ no~ p~o~npNy,~;fu1M ~id wilhin /Fwny.tJ~ d~YS Mal ~}IM rh~ s~ ~~v~r~11y b~co~ d.h ~nd paY~Dt~.
w i1 ~~cA ~nd ~wry H» pipuluiau. pr~nb. condtion~. ~nd cown~nM of ~aid'wwn~~suy npt~,M+d Mi~ mwtpay~. w~~rlr~. M~ ~w d~ly p~r/arr~d. co~npl~ed
with ~nd ~Sid~d by. ~M ~vyrep~q 1VT m~ntion~d in s~~d paniaory no~~ aMll '~can~ dw and pay~bl~ 1wtAwuh o~ tl+x~ahK tM op~ion ol tM Ma~p~pN.
~s fvlly ~nd co~pl~qN u i} s~id ~yyr~p~t~ ium o/ mon~y wq uiqinally trip~I~t~d ro b~ paid on sucA daY. ~nYtAinp i~ said panitsory noN a 1+K~i~ b tM
cOnYrNy nOtwilblMdinp.
To d~fiwe ro uid MortpapN, on a~ ~fw~ N4rcA 1S~A of ~~ch ri+?. u: rec~ipr~ ~v:d~ncinq ~M paym~m o1 ~II I~wfully impos~d p,h /a tM p~adinq
c~l~ed~r y~a~, b d~livM to aid Mw?g~qN. ~tc~ipy ~v~d~unq ~M par~nt ol ~11 li~ns tu publK improv~~nta witAin n;n~M (VO) d~YS drN tM suns ~hall Mcan~
dw ~nd p~Y~01~. and ro paY w dixMrp~ within n~Mty (90) d~ya ~ftN d~» d~p. aey ~nd ~11 qoverne~~~l Iwin rMt m~y b~ m~d~ on Nw rnort9+y~d propa~y.
on Mb enonp~q~ a no~~. a in ~ny o~hN w~y ~~sulrinq (ran the Mwtp~y~ indep~edn~ss s~cw~d by ~Ais ~natp~q~: ~nd if tAi• condit~on a nw canpG~d witA ~nd per-
(an»d, uid ~natp~pN n+~Y paY sucA iwn or awm whicA ~h~ll becan~ put ol M~ d~b~ ~~cwed by M~s ~wr~p~q~. u~d aMll be~r ie~INM1 tM r~» of sia pN e~nf.
(6%) PN +ryw~, wrsb~~ a~mi•anm,slly until paid a i~id Mor~q~pN maY •IM M~~ ~~id mw~~aq~ debt rMrwpon baom~ du~ ~nd paY~bl~ forMwitA.
9. It i~ fw~Mr co+enu~t~d ~n~ ~9re~d b~r said wru.s tMt in ~M went o} • suit Min9 'v:i?~w~~d to fa~clos~ thi~ .ewrty~q~. ~M Ma~p~p~e ~MII b~ ~nrid~d ~o
~pply at ~ny t~en~ p~ndinp iuch iweclo~w• wi~ ro tM cowt Mvinp jvri~d:c~ion fhereof fa ~M ~ppo~ntmem of • nceivN of all and ainp~,la? N» monyaq~d popKey,
u~d of ~11 tM r~nM. incanp, pro(iM. iasw~ ~nd r~v~nwt fl~ewf. Iran w~M~~o~wr sowce da~ved: ~nd tMreuoon it is I+M~DY •~pNSly can~an~ed a~d prKd
tMt t!N couA ~hall falAwitA ~ppoiM • nc~ivN of s~id ~norry~yed pope~ty. ~II ~nd singu4~. u~d of suth r~nh. incwn~~. profib, issuN end r~v~nw Ilw~of, Iron~
wMtio~wr sourc~ daived. wiM~ tM v~wl pow~n ~nd d~tiN ol ~ec~iwn in lik~ u:e~: snd ~~cA ~ppo•nu,wm sMtl b~ ~d~ by svch cour~ a m~nN o1 antct ~~yh~
ro ~M Mw~y~qN, it~ ~ucc~ssas. I~y~l rpr~s~nut~ws or ~ss~yeu, u~d witAov~ rthrent~ to th~ ~dpwcy w in~dpu~ey o~ tM nlw o} ~M w~nr Mr•by ~nor~y~p~d.
a ro tM wlw~cy w insolvency of ~M Mw~p~po?, u~d tAaf s~ch rem, po~~b, inco~, iisws ~nd r~vanue~ sMU b~ ~pplied Ay sud+ r~c~~wr ~o eM wrTe~~ ol ~M
~no?tp~p~ ind~badn~as. cosb ~nd cMr~s, ~ccwdinp w tM ordK o( ~uch cowt.
10. I/ ~ conv~ya+e~ shoutd b~ m~d~ by tM Mor?p~pw of th~ pe'nhN Mr~ deuriEed, or ~ny wrt tlrr~ol, w~thwn ~M w+imn coewn~ ot tM MatpaqN. and
wi~how aiweption in rpola fwa of I~w Ay tM y~neM of tM oblipation w th• Mwtp~pN er~~ted by said paniswry noN ~nd N+is nwrtgap~. tMe~. ~nd in tAat
•wnt, and ~t tAe op~ion of tM Mortp~p~~. and wiN~out notic~. ~0 ~wns of moewY s~twed Mreby sMll imrn~di~tdy and concwnntly wiM wch conv~yanc~ becwn~
du~ ~nd p~Y~bN ~nd in d~fwlt.
11. TM~ in tM event 1M p~miaes AKeby ~nortqay~d, a u~y psrt ~M+~o1, ?MII M condernned ~nd 1~k~n for puW:t us~ ~nde~ tM pow~? of ein:eNn~ dwnain,
tM Mortyaye~ ~A+11 Mw Mw r:qAt ~o d~en~nd tM~ dl d~apes ~ward~d fw tM f~kinq o/ w dam~q~a ro s~id p~rnis~a ~hall E~ p~id ro tM Ma~~g~ up to rM amoun~
eMn unp~id on this rnortp+q~ ~nd ~t ~M option of ~M Morrp~yN m~y b~ ~ppli~d ~pon tA~ p~ynKna Ip~ p~ya0h tMrwn.
12. TM mortq~9or bindt hi~nse~I nN to erM w pNmit ro b~ avM~d ~ny new bu~ldinqs on tM p~misM Mnin mwt
yayd a ro~dd tc d~~nit b b~ added
ro~Mr ot fM ~~isunp improv~menb ther~on or make sny ch~nq~a a altn~tioru in ssid impOVfeMnh VVA~CA m~terialy cMnq~ tM :ae.N a N+~ u:~ ~wf. w~tAour
tM wrifl~n ca+s~nt of tM Mortp~qe~, ~nd in tM ~wnt of ~ny violation or anemp~ to viola~~ this itipulat~on 1hi~ nart~p~ ~nd •II aum~ secured Mresy tMll im-
m~dia~ely Mcwn~ dw and colbcnbl~ ~t tM option o( ~M Mor~y~pM-
13. !t it sp~cific~lly agr~ed tMt tim~ is of the euenc~ of Mis contr~c~ snd ~Aat no wsiver of ~ny oD'ipation Mrwndtr a of tAt obliyation stcwed he.cbr shall ~f ~ny
~~m~ D~ MId ro M• wstver of tM ~«ins her~of a o/ tM inatr~mero secwed he~~bY.
11. I/ iw~closure pocetdinqs of ~ny s~cond mw~pry~ a i~cond trust d~~d or any jun~a IiM of any 4i~d shauld b~ imtitur~d, tM Mw~q~qee m~y. at ih option,
imm~di~f~ly a tMfNNH drelue ~his mor?ysp~ ~nd tM indebt~dn~as aecured Mr~by dw and p~yaDl~ iwthwitA, ~nd m~y at it~ opt~on p-oce~d ro foreclose this
mutp~p~.
1S. To fM uNnt oi th~ ind~btedn~if oi fh~ Mor?9apw to tM Abrt9ape~ deicribed her~in p secured her~by tl+~ Mp~p~pe~ i~ I+creby wbroyated to the titn d
I~~ns and ~o N» riyhh of ~M owne~~ ~nd Aolden ehereof oF each ~nd wery mw~g~qe lien a oN+er inawnbr~nc~ p~ tIw la+d dncrib~d herein which is paid and/w
utiafi~d in whol~ ot in part out of th~ proceeds of fh~ loan deur;b~d }~cr~in a s~wred h«e~~, and tAe ~eapecrive liem of said maty~9es, I~ens a o~her ~ncumbances
aMll E~ and tM_ s~rr:~ and ~~ch of rMm Aereby is p~sencd and slyll psss to •nd b~ held by ~M Allwtg~qt~ h~r~in u sttwiry fp th~ indebqdness ~o th~ Mw~~pa~
l+erein dncrib~d w hereby sec~red, to the s~me ea?~nt that ~t would have Oecn p~eserved a.+d wou~d have b~en passe~ b s~d bee~ h~Id by tM Mwtyaqee h~d i~ bccn
d~ly and reyululy ~si~qned, tru~sferred, set over ~nd deGver~d unro tM Mor~g~qee by sep+raf~ de~d of ~ssiqnm~nt norwithatand~nq tM bct th~t th~ aam~ m~y be
iatis~~ed and cancdled of r~cad, it be~np tM intention of tM puties Aer~to tAst rhe amt w~ll be sati~(ied and cencelled of recad bY the holden tMreof w sbou~
rM um~ of tAe ~ecordin9 of this mwf9aq~.
16. To pay aIl and s~ogular ehe cos~s, charges and e.penses. ~rx~ud~ng lawrer's iees. ~eaaonably ~n~„rred or pa~d at a~y nme by ~nt Morfgagee becavse of ~he
~a~,~.c of rhe Mo.rqago. to perform. compl~ w~~h and ~b~de by each and every the i~~p~la~~om, ag.cements, cond.r,ons. snd covenams of sa~d p.om~sso~y note and rh~s
deed o. e~nc~r, and eve~y such p~ymc.+rs s1~a11 bea. ~nrerest f.om datt N ~he rare pror~ded m sa~d p.om~ssay no4~
17. Wh~n ~ny ~mount of mw~~y to M p~id by M» AAwtp~qor ep tM Mwtpaye~ under tht terms Mreof ahall b~ in dtfwh, a shouid th~ Mwfq~yor de(avlt in
any of th~ ofMr te~ms, provisions o~ conditions oI thia Mor~gaye, th~n ~nd in thar cas~ tl.e Mort9age~ sAall h~w ~M riqAt, witho~t np~~ce ro th~ Mortg~yor, to
co~Iect ~nd receiw from ~ny hrwnt or lesse~ of s~id mutyaqed prem;aes th~ renes, iasues and
prof~ts of tM r~d es~~t~ hereby mortqayed ~nd eM ~mprovemen?s
rh~reon. ~nd ro y:ve poper receipts ~nd acavin~nces thcreiw, ~nd after p~yinq all commiss~ons of ~ny rent~l ~qent cdlec~ing tM aame. ~nd any reasonable at~wney's
lees ~nd o~Mr necets~ry •:qnsq incurrtd in collMinq sare~, to spply tAe proceeds of sucfi coliect~ons upon any i~dtEt~dnesa, obl~g~tan or liabilih. of tAe
Mbr~9ayw hereund~r. TM ~ipht qr~nted tAe Mwtyaye~ under this pu~qr~ph aha II be in add~t~oe~ ro, ~nd shall not limit w reat~ict, a~y other ri9ht a nphh qramed
th• Mortp~~ in this Mwt~y~.
' 1Q. If tM Mwtyayon at Ihe t~rrr o( mtki~q Ihis Mwfy~qe w s~bs~qwnt tAt~tto t~k~ out life insvranc~ desiqn~tinq tM Matqaqay herein ~s beneficiary w~th ~
cornpanY ~Pportd bY tM Mwtp+q~~ a nsiqro policiss ro tM Mwfgaqe~ fa th• pwpose of securiny tM mortpaq~ Iwn hereby secwed, then tM Mortq~pee aMll
h~ve ~Ae riqhl b p~Y ~nY pemi~m Ktr~inq undK uid policies. ~nd all sums w sapended shsll be added to ~nd becon~ a p~r1 0} tM p~incipal indebtednesf secured
i by thi: Mortp~q~ and shall be paid by tM Mortqapw ro rM Mwfqapee in twelw eqwl consecut~ve monthly ins~atlments, tM first montAly insullment ro M psid u s
~ p~rt o1 end in ~ddition to tM mo~Mly payment dw ~ndt~ this Mortyaye in tM first ulendar rnomh follow~nq tM •spendinq of said s~~n. Suth svms w eapended
! to besr intereyr at th~ rate at wMicA int~rest ia Wy~bl~ upp~ s~id qincip~l indebtedness ~nd IM lien of tAia Morry~q~ shall eatend to and secwe the sums so c¦ptnded
t ro9etAer wi11~ inter~st ~Mreon u her~~nbtiw~ povidtd.
~ 19. Thot topeMer witM and in oddifion ro th~ .~w~+~r ~r~~? of principol and ieterest poyoWe under the terws of 1Ue note secured herebr, Nbrtyagor
ihall pay to Mortyop~~ ~ocl~ wonth untl soid nole n fully poid, oee-twelfti~ (1 /tY) of o su~ equol fo d~e onwvol prtwi~~ d~e lor fire, e:eended co~eroge,
" and other Iw:ard insuronu cowrinp f6e n~ortyoyed ~propertp, plus taies ond osseu~senls neat due on tlK mwtyop~d properryr idl os eitiieo~ed by Mort9ogee)
fess all wwn olr~odr poid thtr~for, ond to b~ di~ided bp fhe number of awnths !o elops~ prior ro fhe dote when wcl~ baes and asuaswenb sholl become
detinquenf_ Soid wws shall b~ h~ld bp Mort9opee ie frust w uedited to the principol of tbe loon, ro pop soid insurance, loaes, and ossessu~enb oed shatl
be opplied on the pay~ent thereof ~6en dua My escess Aeld in bvst br Mortgo~ee wAen wid bon n~poid iw lYll iAaN be poid fo Mort~upor, or his
auigns, or ptnond r~presenMtives. In tAe evenf of o defovlt or (oreclosure, wid wss Aeld in trvst iwp b~ upplied p~ o~y cosh d damoyes susbined in
~ connection with the coiltcfion of N~e wote secured herebr vrAet6er br suit, ioredowm, or otherwise_ Morlyopse wwr Frow liwe 1o tiwe at ih option ~oire.
and o(fer ony such woiver, reinstofe anr or dl pro~isiows hereo( requiriog such deposits, bp notice fo AAortpapor in ~rriti~y_ W6ile any such woi~er is in
effec?, Mortyopor sholl por ta:es, aasesswmnh ond insuronce p~emiums os herein eluwAe~e prnvided.
IN WITNESS Wr1EREOF, tfw said Mortp+qw Mrwmo s~u his hand ~nd s~d this th~ d~y u~d r~sr fint abov~ wrin~n.
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S~qKed, sealed and deGverea / (SEAL)
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ucile A. Black
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