HomeMy WebLinkAbout1392 6. To pN~am, co~npN w~t6 •nd ~bid~ by ~ach ~nd ~wry stipu4~~oeu. ~N,nMN. cond~tions u~d cov+Mnh ie s~id wom~aorlr no~~ u~d dkd ~N (aM.
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7. If ~ny oi tM wma of moiwy Mr~in nf«r~d ro A~ ns~ prarotly ~nd fvliy wld wi~Ain tAiny (70) d~» n~,t ~R~r s.~. s.w.•ib b.co~. ~,..~d ar+bt•. ~
a if ud~ ~nd wMy 1M stipulatiau. ~W~wn~nb. cmdi~ion~. ~nd cov~n~nh of uid wani~~ory noN ~nd Mi~ matpaq~. or ~u1y.. ~r~ ~a d~,h wrlwnwd. carol~~d ~
wi~A ~nd ~bid~d by. tM ~yqnWN wm ~nt~ard in uid ww*u~wr ~~+II b~con» dw and wv+bN IuMwi~A w tMrNhM N tM oWion ol dw Mor~y~pw. ~
~s fully u~d canat~Nlr u if ~~id ~yprp~N su~ of moery wu «ipin~lly ~tiputn~d ro b~ wid on iucA daY. a+ytl+inp ~n i~id paniaiory not~ a hereie W tM 1
contrwy nofwidn~Mdinp. +
S. io d~liwr M uId 1MortyayN, on w b~fa~ M~rch ISth o1 Nch y~ar. t~a repiPb widM~dnD ~ O+Y~~ ~~11 I~wfvlly impo~~d t~aw fa tM p~adiny ,
caNnd+~ Y~u. b ddivw q Nid Mor~q~yN, ~~aipti ~v~dw+cing tM wY+~~ of ~N liun (a p~W~c,iA/rOvM~nts wi~hie I~iMly (VOI diYS ~ffN tM s~m~ ~Mll b~ca~
dw ~nd pay~sh, and to pay w dMeh~ra witMn nin~hr (90) d~ri ~hw aw d~N. ~ny ~nd ~11 qovsrnnwa4l Iwi„ tM~ may b~ en~d~ on N+~ rna~y~y~d p~opptp. '
on N~h mwlp~p~ w not~. w in uiy ot1+N way r„ultino Iran tM Nbr~q~q~ ~nd~bNdn~st s~ewed by ?Aia nwrtq~q~: and i1 Mi~ condition b~ nW compli~d wi~A ~nd pe~-
fw~d, utd rnatp~p» nur osr such ~wn a swm wAicA ~II E~con+~ put of th~ d~st s~cwed Ay ~Ais rnor~pp~. ~nd sMll be~r in~NMt N NN r~N ot st~ pp c~nt. +
(6%! W~ ~ P+Y~1~ ~Nni-annwlly unHl p~id ar said Mon9+9« nyy ~4ct N+N uid mwty~g~ d~bt tMnWon b~can~ dw M+d P+rabl~ faMwiM. ~
9. h i~ funM. eo+rewnqd ~nd ~qr~ed by uid pu~ia th~f in t1N wa~t oi • w~~ b~inq init7wt~d ro iw~clw~ Mi~ n+w~q~q~. tM Mwtp~pN shall b~ ~ntitNd ~o ~
apph st ~nY tinw p~ndinp ~ueh fonelo~w• tuit w tM eowt havi~q iwi~dMion Mneof fa tM ~ppointm~e~t d• r~e~iwr of ~11 ae~d ~i~qul~r MN rnwtp~ped propMty. }
u~d ef all N» r~nM. incam~. pofip. iasws ~nd rewnua tM~wf. from wMtw~wr sowce deriwd: ~nd Nw~uoon it is M~~by ~~prn~ly covenN.ted and p~«A {
tMt N» cowt Jwt~ iwrAwiM ppant •~~vN of uid rnwtq~y~d property, dl and ~~nq~lar. u~d of such r~nb. incawei. po}its. issws tnd r~wnw tMno}. tran i
wMkwwe wvn daiwd. wifA Nw uawl pow~n ~nd dutiK of ne~iwn in lik~ u~es: ind avcA ~ppo~ntnwn~ shall b~ m~d~ by ~ucA cow~ ~s • enatre. of ?trict riqM {
ro th~ Mat~qw, iH wccaaab Itp~l rpre~nb~iws or ~s~i,~nf, and wiMev~ r~fN~nc~ w tM ~d~wrscY a M?~d~q~acy of tM vdu~ of tM pooerty M~~by mor~WV~d ~
w M tM wlwncY a iawlwncY o( M~ Maty~qw. ~nd ~A~~ auch ~~m. wof~b. incom~. ia~ws ud r~v~nuw ~MII M~pplied bp ~ucA nc~lwr to tA~ wYnNnf oi MN
rnwtp~q~ ind~bt~dMS~. cosb «.d dw9M. ~ccwdin0 to tM adM of ~ucA coun.
10. If a canwya+c~ shovld b~ m~d~ by tA~ Maty~pa of fh~ pem~ws Iw~in dewibed. p anr D+„ ~pf, wL~how IM writhn consam of Ny Mortp~qM. ~nd ;
wi~haM asunD~~on ie ~pulw for.w of I~w 4~r tM pantN of tM obliy~~ion b M• Mor~0+9N creat~d by ~aid porni+swY rwN wd tAis mor~p+p~. Nwn. aod in tMt ~
ww~r. and at Nk opfion o1 ~M Mort9pM. and wiHtiovt na~c~. all ~wro d morwr secwed Mrebp shall inn»din~ly and canewnntly witA sucA conveywu~ O~corn~
du~ aMl WY~bb M+d in d~lwlt.
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11. ihal in N» event N+~ prtm~a~s h~?~by rnptp~q~d. w~ny put thMwf, sAall b~ condemn~d ~nd t~k~n iw public uN under H+~ povw~ o/ ~mimnt do~~~n, .
eM MortyayN ~A+II haw tM ~iqAt ro d~nw~d tAat ~11 drn~qe~ awKd~d for fM t~kinq of w dam.q.s a s.~d a.m~sn sA+tl b. paid ro N+. Marp.y.e w ro N+. snwwu ~
tMn unWid On fhi~ mOrtp~p~ ~nd d 11N op~ion of MN Mortq~pN m~r b~ ~YP~i~d uP~ tM WYrn~nb Ibt WY~bI~ tAw~on. ;
' 12. iM nw~tp~pw b~nd~ Aims~lf not to ~net w paenit ro b~ n~tl~d ~ny n~w builddny~ m fM p~nisM Mnin nar~p~qd or ro ~dd to or pennit b b~ add~d
ro ~ny of tM ui~tinp iinprw~nwne~ Nwr~on a m~k~ ~r chanph a ~Ihntions in wid improv~m~nb wAich m~tKially eh~p~ ~M s~n.~ o? tM uu tMreof. w~tAwt
eM wri„~n eons~nf o} tM MorppN. ~nd in 1A~ ~vmt of anr vid~tion or HMinp~ ro violat~ thh stipu4tion tlw~ mxtp~p~ and alt wina s~ew~d hK~Ey sh~ll im~
m~di~~ely b~com~ dw and coll~rnbN ~t ~M opran of ~M Marep~pN.
13. It ia sp~cifiully ayrNd ~Mf ~iene in of tA~ e~a~nc~ of ~his confrsct and fha~ no w~~.~er of ~ny ob!iq~Yroe~ M~wnder or of rM obliq~t:on s~cwed Aerebv ahstt at any
t~rn~ b~ IKId ro b~ ~ wtiver of tM Nrms hereof a of t!w ieunwnenr ienx~d her~bY-
1~. If fw~cloaw~ poce~nps of ~ny s~cond maty~p~ w s~cond truar d~~d o~ ~ny ~v~iw IiM of any kind sAould E~ iru~ihrt~A. fM Ntortyas~~ m~y. ies opr~on.
im~a?~y w NMr~dter d~clu~ this mw~pp~ ud ~M ind~Me6waa secured hM~by dw ~nd WY+bI~ f«Mwith, p~d ~nay at ib opt:on p-oc~ed ro fw~cloae thts
mwtp~p~.
1S. To tM eahnt o~ fM ind~bt~s~ of tl» Mortpapa to tM Mwfq~gw dacnEed he*t~n w secur~d lw~Ey ~M Morep~qe~ ia Mreby subroqated to the tien a
I~ens ~nd to ~M ~i9hq of th~ own~n uid holders thereo! oi ~~ch ~nd wuy n+orey+ye lieo w otMr inn~w~c~ on tM Ir~d dacriD~d Ae~ein which is p~id and/a
a~tiafi~d in whob p in p~M out of Mr proceeda of tM Iw~ desc~ibed herein or s~c~rod Mrcby, and the rc~psctive liem of said mor~p~qea, liena oi oN~cr ~ncumbru~ces
aMtl b~ ~nd ~M. s~r.~ and t~ch o( thNn hereby is pu~rved ~nd sh~ll pass ~o ~nd b~ MW Dy ~he Mor~p~pt~ h~r~in ~s secvrity fa tM indebbdn~a~ to tM Mortpape~
h~~ein deurib~d w he~eby secwed. to tM sarn~ ea~~~t tAat it wo~Id Mvt been ptservtd and woutd have been pass~d to and been MId by tM JNor?p~y~e hsd it been
duly ~ r~q~rlarly aasiqn~d, b~rnf~?r~d, sH owr and del:wnd unb tM Mw~g+q~e by spa:~~~ d»d of psiqrwr~nt ~wtw~Mnt~dinq ~M f~ct tMt ?M s~ ~nay be
ase~afied ~nd curc~U~d oi r~cad. it Ee~ny the ~ntent~on oF tM partie~ hereto Ma~ the sa~ will 6e atisfi~d ~nd canc~tl~d of recad Dy eM holden th~r~of at a abo~~
tM tim~ of the recadinq of Mn mwtp~yt.
14. To pay a11 and unqubr rhe cos~s, chrges and e.peoses. ~nclud~ng lawyer's 1ees, reaso~ably ~nc~ned w pa~d a~ any t~me by rhe Mor~qa9ee. bttase o~ ~he
'a :~~e of ~he Mwrqaqo. ~o pe~form, canplr w~~h and ab~de by ~xh and every the s~~vul+twns, agreemems. cond~nons, and covenan~s of u~d pom~sswy .+ore and ~h~s
deed e. e~el,er. and e~e.y ~„ch p~ymenrs sl+all bear ~roernt irom Aa~e a~ rhe ra~e aov~dtd ~n said prom~sso.y nore
lJ. WMn ~ny rnan+~ of moe~ey ro M p~id by rM Marty~qw ro tM Mortp~pe~ wd~~ tl» trrma hMwi shall b~ in d~fwlt, w sAould tM AAorty~pw dsf~uh in
sny of tM otMr tums, povisions w cond~t~oro of Mis Morty~ye, tMn w+d in tha+ ui~ ehe M«~q~ye~ shall h~v~ tM riqAt, v~ithouf not~c~ to tlu Mor~yaya. ~o
collect and rec~iw fran any ~en~nt or less» ot said m«t9ped pernius fM rtnfs, iasues snd pofts of tM r~al ~s~~q hereby enortya9ed snd tM :ewrov~rne~b
thereon, ~nd ro yivt proper r~c~ip~s u~d ~cquin~nces tFwefa, ~nd ~fter payiny •11 cammfasio~s of ~n~ renul sqent colkctieg tM same, ~nd any rtaao~sWe atrorney i
fees ~nd od~ e~acess~ry ~Yp~ea~s incw.~d in cdl~ctiny ~arn~, ro ~pply ~M proceeds of s~,ch collecr~om upon ~nY indebttdness, ob1~9a~ion a li~bil~h, of the
Mortqayw herevnd~r. TM riqht qraneed tM AAorty~ye~ undtr this puyr~ph sh+ll b~ in addi~ion to, and sh~ll no1 limif or rtstrict, ~ny other riyht a riyAts qr~nted
e1,• Mwlp~yN in this JVlon~p~.
le. If tM Mortyaqon at th~ lirrr of enskinp this Mort~p~ a sk~bs~qwnt thereto 4k~ ovt lif~ insw~nc~ deaiynac~ey IM Mw~9sqe~ herein q blMI1C~My w~th a
i comwnY ~pprovcd by Nr Mwty~qe~ a~ssiqro policies to tA~ Mong~qe~ fa th~ pwpose o! secwiny t!» mortpaq~ loan her~by secwed, then th~ Mortq~p~e ahall
Mre tM riqht a p~y any praniwn ~ccrvinq und~r said polic:es, and alf swm so eaPend~d shall M added to a+d b~corn~ • pwt of M+. w~~wl indebtednas seewed ~
~ by this Nlortyap~ ~nd sA~tl b~ paid by tM Mwty~yw b tM Mor~pspee in twttw eqwl consecv~ive mon~hly ins411~nents, tlr fint monthly inst~llment to b~ paid ~s a
~ aar~ o( ee~d ie ~dditiw~ ro ~M nweM ;
N wrm.m du~ ~n+de? fhis Mw~ysy~ in tM firsr ule~dar rnomh followinq tM •apendinq of said sufn. S~rch aums w eap~nded
ro bear ~mMest N tM ~~te at which iMerest is paysbl~ ~rpw~ said princ:p~l ind~btedn~ss and tM lien of Mis Morty~p~ ~haN ~atend ro~nd sec~r~ ~he a~nes w espended
eogetF.~r with interat .tlwreon ~s hertinbefw~ p~vid~d. -
t 19. TAM top~tMr nriN~ awd ie odditiow b H~e ~onthhr por~nt of principd ond int~resl popoWe vad~r 1M /erws d tIN not~ secured Aereb~r. Mbrfyagor
~ sholl po~r M Mwqop~ ~osh wonM vnt~ wid eoh is f~llp poid, owe-lwelfth (1 /lZ) of a se~ equo) to N~e onnud pre~iv~ dw for lire. e~tended coveroye,
and other Iw:ord insuronc~ co~~riny tlw wo~t~op~d properry, plva taees ond ossessmenh we=t dre ow tM worf~op~d p~operty (dl os estiiaattd by Mortyo~ee)
~ leis oll wws dreodr poid therefor, awd b be di+ided bp t6~ nuwb~r o! ~onths 1o dops~ prio? w t6~ dote wlkw s~ baes ond a~seswenb slwll becosie
delinqwnt. Soid wss sbuN b~"Mld b~r Mortyop~~ ia ervst or credited b tbe prinapol of 1he loan, to pa~r soid iawrone~. Maes, and aasessiwenb and sholl
be applied ow tbe poy~ewt tl~wf vMn dw. Mr ~aau Aeld in tr~st br Mortyop~e when said loon is poid iw frll sholl bs poid ro INo~fpopor, or his
ossigns, or perwnd r~preseelofiws. In tlK event of o deto~lt or tweclosure, wid wm held in trust wwp be appli~d oa owr cosls of do~o~es wstained in ~
connection ~rit6 tb~ tolletliow d tIN woM sec~red I~erebp ~rl~ether bp s~it, foredown, or ot~erwise. Morl9opt~ ~oy (ro~ fir b tine ot ih option v?aire. }
and oher onr wch woirer, reinstot~ anr w oll provisions hereof reqvirinp suc6 deposib, bp eotice ro Mortyopw iw vrritiwq. While onr sucA woiver is in ~
ef(ect, Mortpopor sholl pop to:ts, ass~:s~enls ond insurance prewduais os herein tlxwAere pro~ided.
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IN WITNESS WHEREOF, th~ uid Aiortpayw Mr~w+to sNi hi~ Mnd ~nd N+1 Mia tM d~y u~d ~r tint abov~ writt~. ~
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~ S~prted, ualtd ~nd delivered ~ ` ~ ~ ----.-(SEAt)
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