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HomeMy WebLinkAbout1173 , I • (bl if d~dauh Ir• u~.ul~• in Ih~ pa~m~vit ul am sum ~~t muncc ~tu~ .~nd ~~a~ebl~~ un~lcr ihc \~N~ ur Ihi. \Iurt~;:~Kr and .uch d~ fault i. nul cura•~I ui tiii~•i•n : 1 i) ila~s: ur ~ VurtL.~,ur ~6.~11 lil~• ~x•titiun in ~ulun~.~n hanl.ruptc~ nr ~uxl~•r .im h.~nlrup~c~ art u~ .imilar la~~, .tate or teil. r.~l. ~~hcthrr nua ur h.•rralt~ r c~i.tin~;, ur an an.~~~ r ailmnun~; in.ul~i•nc~ ur in.~bil~~~ to pa~ it. ~Irbt., ~~r f,~il ti. ubtain a~ac.rtiun ur a~a~ ul in~uluntan pnN~•.•Jin~;. ~~i1h~n liltc~•n ~ li ~~i~~~., h~•n•in.~l~cr pr~~~iilr~l: ur lJi \lurt~a~~~r .I~all iM• a~hu~li~atcd bunl.rupt, ur tru.t~r ur a n•ci•i~~r .I~.ill (x• appu~ntr~l f~u \lurt~;agur ur fur aU uF ih pru~~•rt~ ur thc majur ~~:ut th~•reoi iu anc in~ulunlan pr~K~•c~lint;. ~~r am court >hall ha~c t.tl,~•n iuri.dic- ~ tiun ul .~II ur :in> p.irt ~~1 thc pru~x•rl~ uf \I~~r1~;.ts;ur in :m~ in~ulunl.in pnK~aY•ilin~; iur 1hc rcury:anitaUo~L ~Ii~.ulutiun iu ~ Iiyui~LHiun uf \lurlt;.~s;ur. .~ni) .uch tni.t~•c ur rccei~~r >hall nut Ix• ili.ch.~rt~cil or such turi.ilictiun n•lin~~ui>hcd ur ~ac:it~vl ' ur ~t:nrd un ap~x•al ur ~Ahi•rnix~ .la~cd ithin iiit.rn ( i 51 il:n.. ur <<•) ~lurt+;a~;ur ~hall ui.~{,r an .~~si~nm~•nt fur thc b~•n~•lit uf ~n~~lit~~n. or .h:~ll a~lmit in ~~ritin~; it~ in.~bilit~ tu ~ pa~ i1s ik•bt~ ~,n•ncr.~ll~ a~ thc} Ix•cumc ~lu~•. or +h.~ll cun.~•nt tu ~h~ ap~H~intnx•nt ut a n•r~•i~cr ur tru.tc~• ur liyuidutur uf all t ul' it> pru~x•rt> or thc major part thcn•of: ur ~ ~ f) drf.~ult .h.~ll Ir• madc in thi• dur ul~.a•n:~ncc or ~K rlurro.u~cr ui .~n~ ~~th~~r u( thi• cu~rn:~Ms, a~;rccmcnts or cundiliuns hcr~•u~f~~~r~~ ur h~•n•.~fter ~unl.~irn.l, rryuirr~l tu (K• 1~~•~H ~~r ~xrfurnu~l ur ui~x~ncd b~ ~lortt;a~;ur in this \lort~;a~,~. thc \otc. ur am uthcr ii~.trumcnt c~~•cw~•~I cuncurrcntl~ ~~ith ur in cunn~•ctiun ~~ith thi~ \Iur~Ra~;c (inclu~Iiny;. ~~ithout ~ limilatiun, any cumtructiun ivan aRr~cmm~l), and cucl~ d~~l.~ult .1~.~11 n~~t IK• rurrJ ~~ithin tiftc~•n li) da~~ a(Icr noticc thcnrof, { th~•n and i~~Mm the ~Krurrence u( am of .uch r~ent~ the ~~hulr uf tlu• principal sum hereL~ Krur~•~1 ~I~all, at unee. at the { uptiun ui \lurt~;:~~ati'. Ixcum~• imm~•Ji.u~•I~ dui• :+n~l pa>ahl~•. tus:rlh~•r ~~i~h accrued inti•re.t thrrcun. ~~ilhuu~ nutic~• ur demand ~ ~~hich an• hcrcb~ r~prcti.h ~~.ii~a•d. In thc ~•~~•nt of :im d~~lault ur brcach un thr p.!rt uf t6r \lurt~;.~~;~~r un~ler thr \otc ~ ur thi> \lur1~;.~~;i•, tlic \IurtKaxce ~hall h.i~~• the cuntinuiny; uptiun t~~ enlorce ~xnnmm uf all .um. urun•d herehc hc aetion at I:n~ o~ bc .uit in i~yuit~ tu furr~lu..• thi. \lurly;.~~~•, i•ith~~r ur IN~Ih. cuncurrcntl~ ur ~~th~•n~~x•. .+n~l unc actiun or suit .6.d1 nut abate ur IK~ a bar to ur ~~.~i~~•r uf thc \lurty;a};~r'> ri~;ht u~ in.thut~• ur mainlain th~• uthrr, pn~~i~lyd ~aid ~lort~;agcr .hail ha~c unh uu~• p.~~ro.-ot an~1 +ati>i:i.ti~~n uF s.iid indi•btr~l~x-... 1~. In th~• i•~cnt uf a~uit tu furccluv Ihi. \lurtt;a~;c, thc ~lort~at;cc +haU Ix• entitl~•d t~~ appl~ al an~ timc ~x~ndin~ surh fo~cclinurc ~uil tu thc cuurl h.?cint; iuri>~licti~~n Ihcrcuf fur the ap~wintmcnt ul a rcc~•i~cr of Ihi• I'ru~x•rh. ~md of :ill rcnts, incumc~, prolits, is~u~•~ anil r~•~cnur~ thrn~uf, frum ~~hat.~r~cr .ourcc ~Icri~c~l. :+nd thi•rcu~H~n it is hcrcbc f e~pre.sl~ con~enantril and a};nrd Ihat the cuurt chall forth~~ ith ap~x~int .ucli recei~cr it6 thi• u.ual ~a~~cer~ anJ duties j uf recei~en i~ like caK•c: and +aid a~~~wintment ~h:~ll Ir• ma~le hc th~• ci~urt a m:~u~~r u( .trict ri~:hl tu IFx~ ~lortxakir. 1 and aithuut rcfcrcncc tu th~• adcyuac~ ur in.ideyu:~c~ uf thc c.~lu~• ul thr I'nyx•rt~. ~~r t~~ thc .ul~cnc~ ur imol~cnc~ uf thc ; ~Iort~aKor ur anc ut~~rr part~ tu wc~i .uiL 1hi~ Vurl~.+kur h~mb~ >~xYiticalh ~~.~i~~•. tl~i• ri}:ht t~~ ul~jcct tu the ap~~~inUncnt ~ uf a rr~Y•i~~~r a~ alun•saiJ and hercb. c~prr~.h cunx~nt. that .uch .~p~Y~inuncnt .hall IK~ mad~• .~s :in admittcd cyuit~ and a~ a maucr ol alKUlulr rikht tu Ihr \lurtka};cc an~l that th~• sam~• m:+~ IK• ~lunc ithou~ nutice u~ Ihc \lurt~;a~ur. 13. \~'hcn Ihc riKht ~o forccl~~~ thc \lortt;akc c~i~tc, ~lurt~,akur >hall .urri~n~lcr tu \lurtkakrc ~w.x•s>ion of thc Pro~- - e•rt~~ ur anc part th~•rcol aO~I \Iurtkakec m.~~ cntcr u~wn ~nd tal.i~ {Hnx•..iun uf all ~~r anc part of the Pru{x•rl~, tuy;ethcr ' ~cith all d~KUmcnts. Ixwk+. rccurds. pa{4~n and accuunh uf \Inrl~.i~~~r ur Ihc Ihcn u~cncr u( thc prcmix~. rcl.dinK thcrcto and ~ . ma~, ~s a~;cnt of ~I~~rtt;:iy;ur or in it> u~cn namc. u~x•ratc, mana~~• .~n~l ~i~ntn~l thr Pru~x~r1~. cum~dctc th~• cumlructiu~ or ~ dc~clupmcnt uf am im~~ru«•mcnt. thcn•un, makc :ill ne~rccar. rrpair., .~It.•rati~~n., :iil~liti~~n. ur rcplac~•mcnt uf wch im- pru~cmcnt .ind cun~luct thc bu~inc.s, if an~. Ihrrcof, i~ithcr ~4•r,un.Jh ~~r b~ it. a~:~ nt~. h~•n•h~ ~r.~ntin~ full pu~~cr and authuri~c tu ~•~~•niv r;~ch. and ~•~cn uf thi• rikhh. pri~ileKc. an~l ~~u~~i•r. h.~n•in ~,rantc~l at am and all timi~~ hcn:~Rcr, ; ~cith~~ut nutic~~ 1~~ \I~irtl~a~7ur. c:ufccl=:n) dcay. • ur a};rccnu•nt .ub~~rdinatc tu Ihi• li~•n hcrr~~f .inJ to m:~l,e all n~•cccwrv ur pru~x•r rcpairn. Shuulil \IurtK.~?:~•c incur anc Habilih. I~r. ur d.~m:~~c. unilcr :mc Icax• hi~rcb~ a.cit;i~cd or un~kr ur i~~~ rcasnn ul' the :u~i~;nment thcreeri. ur in th.• d.•frn..• uF am claims or d~•m:~nd.. the :~mi~unt then•ul. inclu~link c~at~, ex~x•ncet and n•a.~mahl~~ :itturn~~~; (r~•., shall Iw• K•curcd hcicb}•, anil ~lurtk.i~ur .Ir~ll n•imLur.~~ ~lur~k.+~i•c thcrefur nnmc~Gstcl~ u{wn ~ dcm:~nd. ~ 1~. \lurt~a~un c~reb~ a.xi~;ns, tr:u~sfcrc and cct. o~cr unt~~ \lor~,.~s:rc th~• cntirc pnKC~•d. of :~m awar~~ or xn~~ ~ ' iL~im lur ilnin:~:;~~. I~~r :~n~ thr Pru~x•rtv L~kcn ur d.1111d1:C~I un~lcr thc ~~~~~cr ~~f ~•tnincnt dum:~in ur b. curnkmnati~~n. ~ i \I~~rtt;.~Kc~• m:~~ clrct ti~ :~~~p~~ .uch pnK~rc~ls in reiluclion uf thc indcbtcilnc.. xrurc~l hcrcM, ~~hcthcr ilu~~ ur not, or to ` rcyuin•.\lurt;ia,'~~r I~~ rr.tun~ ur rcbuild. in ~~hich r~cnt thc ~~r~KCCiI. ~hall Ix• h~•1~1 h~ ~IurtkaKi•c and usrd tu rciml~urse• ~ \lur~~;.~kur fur thc ~~~.t uf the rrhuildink ~~r rc>turink uf huilJink. ur impru~cnx•ntc un Ih~• Pruix•rl~ in acc~udancc ~~ith ~ E ~,I:~m ani~ .~kcilir.~tiun. t~r Ix• whmittcil U~ am~ appru~cil b~ \lurl_'.~,~c~•. \ut~cil~~.l.~nilink thc c~~mmcnccmcnt ~i~ 1n~ cun~lcmnatiun pnK~~~•~lins:•. thr \I~~rt,a~;ur .hall cunlinuc to m.~l.~• all ~~a~m~•nt. n~yuircil b~ th~• I( th~• amount oi t .uch a~~:irJ ic in.nllicicnl tn ~u~cr thc cu,t uf rcbuililin;: ur rc.turatiun. \lurt~.is~ur ~hall pa~ .uch c~nt in i•xcc>s of the ~ a~~.inl. Ix~furc IK•in, cntitli•~I tu rcimhurw•~ncM uut uf ihc :~~~ard. \m .urplu. ~~hich ma~ rcmein ~~ut u[..~iil :~~~ard ~hall. .~t th~• uptiun ~~f \I~~rt~:i:;r~•. Iw~ ap~,licd ~~n acc~~unt ~d~ thc inilrbtc~ln~.. ~•curcil hcrrb~ ~~r Ix• ~~.+iil tu an~ ~~Ihrr ~~art~ entitli~d th~•re~t~~. In appl~in~ thc ~~nK~•~d. ~~f .+n~ a~~arJ ~m account ul thi• in~I~bt~Jnc...i•eurc~l hcrch~. \Inrt~;.~~~•~• ~hall Ix• cntidcd ; lu ri~~~cct. uut ~i1 Il~c pnKri~ih ~~I t~u• .~~~an~. .i ~~rcmium un t~~c dm~~unt prcp.~i~~. :H t~ic ..unc ratc thuu~;h ~IurtKa~;or ~ h.id clcctcd Ii~ ~•rcp:~~ thc inili•bt~~Jni•.. in accurJancc ~~ith thc tcrm. ~d tlu \~~t~•. .\m anil all c~~~l~ and i~~~x•nx•s :tnd n•a.~~nabl~• att~~rnc~.' I~c. incurrrd h~ \lurtk•~~,~r h~ r~:u~~n ut an~ c~~nJcmn.+~inn. Ihrc.d~•ni•~I c~~ndcmn~tiun ~~r pnKecdin~; ; th~•rcunJi•r .h.Jl fx~ ~ccun~cl hcrchc .~n~l ~lurt,.i,~~r .h:~ll rri~nl~urv ~1„rt,e~_~~• thcr.~l~~r itnmi•diat~•h up~~n dcmanil or ~lurts;as;i•~~ ma~. aI itc ~q~ti~~n. d.iluct thc ~amc Innn an~ :~~~:~rd :~~•i,'ni•~I U~ ~lurt~,a,~~~• I~cn•undcr. \I~~rtkat;or chaH nutifc ; t ~Icirt~:a;;cc .u unc~~ ul thr i~nnnuncroicnl ~~1 cumlcmn.itiun pnKC~•din,. ~~I am ch,iracl~•r allccun;' thc Pru~x•rtc ur am part thrrcuf. In Ih~• c~cnt that th~~ Pru~x•rt~ i. ~~hulh c~mil~•tnnc~l. \I~~rt~,a~_cc .h.il) n•cci<<• fn~~n Ihc \I~~rt~;:~t;ur arnUnr the ~ ~,nKrcd. uf w~h curnl~•mn:~ti~~n ~~nK~•cdin~~. th~• cntin• in~lehlivlnc~. vrur~vl h~ thi. \lort:;:+~,c. : I~. \~~thin~ innt.iine•J I~crcin. m~r an~ tr.~n..niiun rcl.~~~d hcrrt~~, .hall tK• e~~n.~ruiil ~~r ~~~xr.+t~~ t~~ ri•yuire• thc ~ ~li~rt~_.~~,~~r tn ~~.n int~n.t :~t a ratc ;'rc.~tcr t~i.in t~i~• ~na~i~ntnn r.dc ~knnittcJ h~ ~~r t~r m.~l,~• .~n~ ~~.~~mcnt ~~r In il~~ .~m .~~1 c~mlr.~n I.i~~. .iml thc \lur~,.~~,~~ .h.ill ni~uLurv~.\I~~rt~_.~,~~r I~~r .un int~rc.t ~~.~iil in i•~cc.. nl .uch ma~tmutn r:~t~ : ~~r .~m ~•.~~mcnt m.i~~c ii~nlr.~n ~u ~a~~. II .~n~ ~~.~uv. ~~r ~~ru~i.i~~n. I~crcin ~unt.iinci~ ~qxr.~tc ~~r ai~tt~~~ ~rrn.~xiti~i~~ ~qx•r.~lc = h~ in~.~liil.it~• thi. \Inrt~,.~~,~ . in h~~lc ~~r in ~~:~rt, thcn. .uch i I.iu.~+ .u~J ~~ru~ i.i~~n. ~~nl~ .I~.~11 Ir h~ hl I~~r n~~ucht. a. Ihnu~,h ; n~~t hcnin i~~nlainr~l. .tn~l thi rcm.~in~lcr ul Ihi. \Inrl,.i:;~• .h.ill nri.u:e •~~xr.~~i~~ an~l in Cull I~~n~ .+n~l i11i~eI. - I6. \li~rt,.i,'~~r .h.ill n~~t :+~:~il ih~ ll uf .in~ l.i~~. m~~~ ~~i.tin~ ~~r I~rn.~fli r i n.u t~ ~I in ~~nl~ r t~, ~vr~~~nt ~~r hindi r thi• ~ cnl~~rr~ mrnt ~~r t~~n•eL~.nn ~~1 thi ~I~~rt,.r,~ ..inil. t~~ Ih~~ ~•~t~ n~ in rmini d. h~•rehc ~~.~i~.. the• 1x•neli~ ~~f .ueh 1:~~~., in ~ clwlin~ :~n~ hi~nu.t~.~J i~~i~~n~,ti~m la~~.. ~ I-. ~Icl.i~ nr umi..i~~n Ih~~ \l~~rt,',~,.~ ~n th~ r~ i.~ ~~I .in~ r~,ht ~~r r~ in~ ~l~ .ic~ ruin~_ i~~,un an~ il~•f:iiilt ~~r : - +n th~ ~I~~in~ ~~t .u~~ ~~1 th~ m.itt~ n:~ml thin~,. h~ it ~a nnilti J t~~ Ix ~i:~m ~m~l~ r thc t~~rm. .~nil ~~r~~~ i.6~n• ~~1 thi. \Inrt~_as:~ ~ .in~1 th~ \~~t~ .h,Jl im~~.~ir :ui~ .u~ h ri_ht ~~r n in~vh. n:~r IK ~ ~~n.~rn~ ~I t~~ 1~ ~~.ii~~ r ~~f .ui~ .uch i1~~L~uh ~~r .~cyinr.c~ nc~• Z th~ rcin. nnr .h.ill it allcct .u~~ .uh.~ yu~ nt ~I~ I.~ult ~h~ ~:~ini ~~r ~I~Ilrn nt n.itun .~n~l r~ .u~ h ri~sht ur n uuih ma~ g Ir c~~ r~ iv•il ln~u~ timc t~~ timi .inJ ul~~ n.~. it i. J~ ~•~m ~l ~~~ti ~li~ ni I~~ ~h~ \I~~rt,.~,~ ~ Iti. It i. th~ intint h~nui t~~ .~iurr ~~.~~nunl ~~t th. \~~t~ ~~licth~r th~ tult .~m~~unt Ih~n~~l ~h.~l) h.ni IK~•n .iil~:mci•d ' t~~ thc ~liut,.r,~~r .~t thi iLA~ h~ n ~~t ~~r .~t I.~tcr i1.+tc. I h~ \lurt_.~,c~ ro.~~. .~I thc .~~li ~~~,u~~n ~~t thi U~~n~_.i_~cc. In~m ti~ni~ t~~ ~ ' ~~m~ m.~~i lutun ~nl~.in.~. t~~ th~~ ll~~r~,.r,~~r. ~~lii~h .ul~,~n<<. .h.Jl ly v~urc~l h~ tht. \I~~r~~_.~,.: ~~n~~~~Ic~L h~~~~~.~r. ~hal ` ~h~ h,t,~l ~~rinci~,.il .~nn unr~l h~ rcl~~ .u~~l n ni.~inin~, un~~.ii.l. in~ lu~l~n_ .~n~ .u~ h:iil~.incc.. .h.~ll nnt .rt .~m tinu ~•~c~•~~il i ~ n~i<< th. ~~ri~.:in.~l {~rimi~~.~l .~un ~~1 Ih~ \~~t~ .i...t ti~rlh .~~H~~~. \ll .n~h I~~turc .ul~.~n~~. .h.ill 1~• m.ulc ~~ithin thi tiin. ? li~nit ,~iitL•~~rii~~l I~~ I I~~rul.~ I.~u t~~r ~n.il.~~i~_ ~.iliJ tiitun .~J~:~n<<. ~~itli int~r~.t .~n~l .ill in~~cl~tc~ln~.. cn~.rtid ~irtuc ~~1 7 - .u~h lutun .~J~.uuc. .h.~ll .uiJ .~n• .~cun~l h~•nL~. \II ~~n~~i.i~~n. ~~I thi. \I~~rt_.~,~ .h.~ll .~~,~~I~ ti~ .~m (uturc :~d~.~ncc. ~ m.~~l~ ~~nr.u,u~t t~~ thr ~~ri~~i.~~m. ~~1 thi. ~,.~r.i,r.~~,h. \~~thin•_ h~r~in .~~nt.iin~J .h.Jl liniit thi .inun~nt vcurcil h~ thi. ` ~I~~r~,.~,~ . il .u~ h.~mn~int ~n~ n.i.~ ~l h~ .iJ~ anc~. m.~Jr h~ th~ ~I~~r~~_.~~ ~ c.~, hi n in ~ 1.~•~~ h~ rc ~~n~~ i~l~ il .+nil .~uthnriic~l ; f~~r thi ~~rut~ ~ li~~n ~~I th~ eeint~ ~il Ihc \lurt:;.~~cc. ~ @OCK~V 1 r~~:~~~ f I . ~ . _ .