HomeMy WebLinkAbout1122 ) My O~ IM ~wM ot rnoMy nN~~n ~~H~rW q w ~o~ pomV~ry ~no rwry p~~a w~..+.n m~rrY ~av/ wY~ n~a. •nw ¦n~ s~ s~v~r~~ry wcom~ a.N ~no WYw~~.
p if ~~cA ~nd ~w~T tM ~I:p~IN:o~u. p~~nh. ca+d~riaa. a~d cow~anM of uid Mu~iasory noN ~nd M:~ nartpsp~. a~iN+M. ~r~ na duly pKfanwd con~Dlied
w~~A ~nd ~id~d bY. ~M ~9ww+~~ aww en~n~~«wd ~n u~d woiniaav noN sMll beconw dw snd wvabl~ IwtAw~~h o~ ?M.~ah~r n tM oprion ol ~M Ma~9+9«.
~s lutly ~nd coinoNNN W if ~aid ~9prp~N wm of inon~y wu wi9lMlly ~GpulN~d ro b~ wId on ti~cA daY. ~nY~hlnq in ti~~d pon~~uory nW~ a M«ie b tM
cOnn~ry ~Ofwilhtl~nd~p.
d. 1o d~liva b sa:d Mwt9aQ~. on a~/w~ INucA IStA ol ~ad1 y~. q¦ ~~c~ipM ~vid~wcNq N~ paYn»el o/ ~11 lawfvlly irnpos~d faaM fo~ N» p~c~d~nq
ubed~ v~~r. ro d~livrr ~o s~id AAa~qa9N. nc~~pa ev'dtnunq ~A~ p~rnwnt of ~II li~ns fo~ q.Elic irnprovun~nts Y?~tAln nuKty (90) d~ys ~(tN tM sun~ sMil EKOin~
dw a+d ar•bb. .~e ro wy w di~eAuq~ wi~hin o~n~~y (90) d~» +fe~? dw daq. ~ny ~nd dl qov~rnm~nal kv~p ?M~ ~+uy b~ rn~d~ on N» mor~9p~d p?op~r~y.
on Mi~ mortp~q~ a nor~. w in ~ny aM~ way resulti~q (ran ~M IMo~tq~q~ ind~bqdntu s~cw~d py tAi~ rwa~yaq~: a~d if this condiuon b~ no1 compt~~d w~~A ~nd per.
1w~d. u~d i*u~9+9N T+r ar ~~A ~wn w ~wws wAicA aMll ~tco~ p~n ol Mf d~b~ s~cur~d by ~Ai~ nw.rq~p~. and aMll bew intKN~ ~M_r~t~ ol ~ia pN cau. `
IA%) V« +n~w~. WY~b4 ~~~ni-~row~lly vmil paid w uid Mortpay» ~y ~t~ct M~~ uId enor~y~q~ debt tMr~~rpon b~can~ dw ~nd o+r.bN fa.Mw~M.
9. It i~ fw~M+ co+en~n~~d w~ ~y~e~d Ay sa~d wr~~•s ~ha~ in tM ~wnt of • wit b~inp inirit~~~d ro ta~clo~~ tAi~ n~ortp~q~. tM Matp~p» ~MII E~ ~ntitbd ~o
~pply H any t~m~ p~ndieq ~ue~ fw~elww~ sui? w tM ea»t Mvenq jw~~d~erion Ma~of iw ~!w ~ppo~n?e.~m oi •~~e~ivN of ~N ~nd ainqul~r Nw enwt~p~d pop~rq.
and of dl tM nnM. incorn~f. pofia. ;aaws ~nd r~wnu~s ~Mrwf. l~an wlutw~vN ~o~rce daiv~d: ~nd tM~~uoon it is ha~by •,p~a~ly cov~nanf~d ~nd ~pr»d
~Aal 1M cour~ sAall forMwitA ppoint • r~t~ivK of uid mwry~9ed popafy. ~II ~nd sinqul~r. ind ol sutA r~nlt. into~s, profits, issw~ eod rewnw thMw/, from
wMfawv« tourc~ daived. wi~A 1M viwl powps ~nd dulia ol rettiverf i~ I~k~ ps~s: ~nd a~rcA ~ppo•ntmenl ~Mtl a~nad~ by tuch co~it ~s ~~nanN o} ahict ri9ht
b 1M Mony~pN, ib ~ucc~a?o~b Ip~l r~pKenNfiws w afUqru. ~nd wifAaA ~~fNmn ~o tM ~dpuxy o? in~d~pu~cy of eM vdw ot fM pop~r~y AM~by rnw~p~p~d,
a ro tM solwncy or insolvency of tM Monprqw. ~nd tMt soch r~m. aoi~t~. inco~, isiws and r~wnuN ~MII b~ ~ppti~d b~r ~vcA r~c~~vN fo tM p~ym~m o1 Nr ~
rnortp~y~ ind~be~diws~. eo~b u~d eharpa, ~eead~np ro t!r ordw of ~ueA eowf.
10. If ~ conwy~ should E~ nwd~ bp ~M Mor~ppo? of Mr pan~s„ Iw~in descnbed. o~ ~ny pah ~h~r~of. witAo~n tM wrin~n cauenr of ~M Mortp~pw. ~nd
wi~ho~1 aisump~~on in rpular laa of bw by tlw pranrM ot tM obli~tion b ~h• Mor?p+qN cr~ped b~r wid paniawry noN ~nd Mi~ mwpaq~. tMn, ~nd in tAat
~wnt. ~nd ~e tM option oI N+~ MortypN. and wi~hout notic~. dl sw~s of mon~Y s~cwed Aerspy ~Aall imMdi~f~y ~nd concurnnUy w~M iucA conv~yanc~ E~con»
dw ~nd p~Y~bb ~nd in d~l~uh.
11. TMI in M~ event tM w~~s~s Mreby mwtp~p~d, «~ny psrt Mwwf, aMll b~ condeiw~td ~nd f~t~n fa p+Wic us~ w~d~? M~ povwr ot ~nrn~n~ dan~in,
IM Morpp~~ ~MII Mw IM riyh~ M d~+w+d tAat all dMn~~ aw~rd~d }a tM t~kieq of w dam~g~s ro s~id pr~enish sAaH E~ psid to M~ Mwtp~gw up ro th~ anw~~n~
~Mn ww+id on MH monp~y~ ~+d at ~M uWan of ehe Mwrp~qN ~r M woti~d uow~ Hr wr~+a taf P+rabN tMna+.
12. Tlr monp~po~ binds himadf eot b~r~ct w pNnut to ~ enc+~d ~ny n~w Eu~ldinqs on ~Ae w~is~s Mnin ear~p~y~A a ro idd to a penn~~ b M~dded
ro~rW of IM ~xi~linp inp?owmkeh tMr~on w mat~ ~enr ch~nq~s w~Her~tions in uid improvein~nM wA~ mHeri~ly cAsnp~ tA~ sa~ w?M vs~ tAwwf, w~tAou1
tly Mnin~n eoen~n~ of tM AMny~. and in NN ~wnt of ~ny vid~tion a~nanpt ro vwotw ~f+is U~pvl~tion this mwtp~p~ and all swns secw~d hw~Ay sh~ll i~n-
nrdc~ny b~co~ dw and cotl~ct~bb N fl+~ optian oi tM Mor~9apN-
1~. It ia sp~cif~ully ~~Nd th~~ tim~ is of ~M eu~nc~ of Mis contrxt and fAa~ no w~iver oI any ob!~p»ion Mrwndn a o( tM obtiyu~on s~cwed Aer~by shall at ~ny
~im~ b~ MW to E~ ~ wuwr of th~ t~rnn hawf w o/ rM :nttrve+enr secw~d her~bY- .
11. It ior~ctosw~ poc~nps of any s~cond mor~p~y~ a s~cond truat dNd or any ~on~w G~n ol any kind tl~ould D~ im~in,t~d, tM Mw+qagee inay. at in op~~on,
imrt~di~t~y or ti»n~he~ drelu~ this ewrfya9e and t!r ~rdtW~dn~s~ a~cured hM~Ey dw ~nd pav~Dl~ (w~hwi~h, ~nd ~y ~t iq oprion D'oceed r~ forecloa~ thMs
^'°rep~q~-
13. To tM ~aNnt of tM indebt~dn~sa of ~M Mor~9aqor w tM Mortyaqe~ desuibed herein a aecor~d Mrtby tM Mor~qaqa~ i~ Mreby subroy~?ed ~o eM lien a
lia~s aed ro M~ riyArs of ~ own~rs and holders thereof of ~xh ~nd e~rNy enwtq~9e lien or oeMr incwnbrwrc~ on NN I~nd d~scribd he~ein wfiicA is p~id ~nd/w
utia~i~d in whol~ w in pan oW o} tM poceeds oi tM lo~n des~ribed her~in a s~cwed Mreby. and Me respechw liens of said inatq~yes. I~ens a otlxr ~ncwnbr~ncea
sMfl M ~nd th~. urr.e and wch of tMT Aereby is pr~served and shall pass to ~nd b~ Aeld by M+e Mony~qe~ Mr~in aa ucwi~y fo? tM indeb~~dMSS ro t!w Mwtqaqet
herein describ~d a hereby sscwed, ro tA~ urr» eat~nt that it would hav~ Deen preserv~d and wou~d Aave been p~sst~ ro and be~n M1d Ey tM AAorepaq~ had it been
duhr and +epularM +a~7pned, tr~nsf~.red, s~t over and delivered unro rM Mor~qaqee by sepu~~e de~d of assiqnm~nt norw~Msrand~nq tM f~c~ ~h~t tM sam~ may be
utiaf~ed a~d c~nc~tled of rtcord, it beinq the imeeuion of Mt pa~ties hc~elo Mat tl~e suew w~ll bt satis~~td and c~ncelbd of recwd by !h~ holden tMreo! ~t or abo~~
th~ tim~ of tM recwdirg ot Mis rnortyag~.
~b. To pay ~b and s~nqubr rhe cosrs. Sharqes and t.ptnses. ~~+dud~nq lawyerl fees. ~usonabtr ~nc~.red w pa.d a~ ~ny nme by the Morfyagee, trecause o1 fhe
fa~:c.e ol r~e Ma~yaqo. fo perlwm. cw.wly w~eA ~nd ab~de ~y ex~ and ever~ ~he st~c~lauoos. aq.eemems, cond~~~ons. and cove~anfs of sa~d pomnsay nme and rh~f
deed o. e~rhe., ar~d e„~.~ s~.ch p~ymM~i sM11 bea~ ~nrerest hom dare a~ ~be ra+e wo~.ded ~n sa~d prom.ssay no+e.
17. Wh~n ~ny ~enount o} morny to M p~id Ey tM Morlp~~ b 1M MorlqapN u~der t!» terms Mrea/ sMll b~ in d~fault, a shovld th~ Mort
yapw defwlt in
any of tM othtr tenns, povisaro a conddtions of lhis Ma~q~y~. ~hen ~nd in Mae us~ tlx M«tyaye~ ahall hav~ M» riyh~, wi~Fwuf no~~ce to N+e Abrtq~gw, ~o
mliect and receiw fran ~ny fen~nt w 1~»N o( aaid n+wtyay~d pranisn tlr renb, iasues ~e~d prof~ts of tM rNl est~q h~r~Ep ~norfpsqed ~nd tM :mp~ovemenb
tAereon. ~nd to 9ive pop~r receipfa-and ~cavitt~ncts thpefw, u~d ~fter payin9 sll com~niss~ona of ~ny r~nul ~qent colkctinq th~ same. and anY reason~ble affaeKy"s
fNS and otMr ncceusry ~ap~nsts incwred in cdlMing i~. Io apply tM proceeda of s~ch collectioro ~pw~ ~ny ie~dtbt~dness. obliy~rion a ~iability, of tM
Mortqayw hereunder. Th~ riyhl qr~n?ed fhe JlAorry~ytt u~der this p~rayrWh shaf! be in add~twn to. and shalt not limit a resnict, ~ny other r~9ht a ri9hq qr~nted
~M Mortgsya~ in Mis Morrp~p~.
le. I( tM Mw~p~yon ~t the iirm of mskinq this Mwtysy~ a s~Es~pNnt tMere~o bk~ out 1~(~ ins~r~nc~ desi9n~tirg tM Ma~ -
p~qe~ herein q btr+eficiary with a
company ~pproved by t!r Nbn~syt~ er ~uiyns policies ro tM Morfq~y~e iw tA~ D,xpose of secvrinq fM mwtpaq~ Iwn l~enby secwed, tAen fh~ Mortqp~~ shall
! have th~ riqht ro par a~r premiwn sccr~:rg ue~dK uid policiet. and ~11 aums so eapended sMll b~ added to and b~cwn~ • pwt oi Mr princip~l indebtedneu securtd
~ by thia Muep.y. .nd sMn b. w~d py M. Mo.fy,9or ~o ~M Mw~9aQee in twefw pwl consecwive monMly inatsllmenq. tlr fint montAly ins4~lrnene ro b~ paid n a
! part of cnd in addrtion w tM monehly p~y~nent du~ ue~dn Mis Mor~g~y~ ie tM finr ulendar month tolbw~rp th~ t:pendinq of sa~d ~um. Such s~ms w t.peed~d
~ to bear :ntuest ~t th~ rate at ~wM:c1+ :nkres~ is qY+bl~ wu+ said pincipal ind~btedness and th~ Iien of tfiis Mortq~q~ shall ea~e~d w ~nd secw~ the sums so e:p~nded
E ~oq~~her with intsnat rhason ~s her~~~eta~ paridd.
i
i 19. That t ther ~ri16 awd in odditiow b tM ~on
~ shall fo ~ eoch ~on1h uwnl soid nof~ a f~ ~~d, onc•hvelfth' ld ~ o~~~~e veder 16e fK~s of Ihe not~ secvred hereb~r, Mort9agor
P~ ~9M~ ~ P~ puol fo Me annual pr~~ivw due for (ire, esfended cwreroye,
` and otber bo:ord i~fsu?once corerinp 16~ swtyoped p~operyr, plus toaes oad msess~enh neit dw oa the wo~t~op~d prop~rfp (dl m estiruo?ed bp Nbrt9ogee)
leu oll w~s dreodr poid tberefw, ond fo b~ d'irid~d bp tbe nuwber of wonths b elapse prior ro Me dot~ wrAee svci~ ~oaes ond ossess~wenb ~holl becosro
~ delis uent. Soid w~s shoN b~ 4eld ~w trvst or aedited b 11~ incipol pop s
4 b/ ~Awtyoya~ Pr oF t6e loon, b soid iawroup, lo:es, und ossest~enh and tAoll
~ b~ opplied o~ N~e porwenf tb~rwf wben dw. Mr uuss held in tnrst br /Morpopk v4en soid loon is paid iw fdl sAoll be poid ro Mortpa~w. or 6is
~ asiges, or persowd represe~ofires_ Iw fbe e~eM of o defauh or foredowre, soid w~s beld in trYSt ~ar be oppli~d oe aur costs d doww~es sustained in
~ connedion witA tb~ cdlectiow of tl» nofe aecvrcd berebp wrbet6er bp suit, Fo~eclos~n. a Wl~erwise. Mwlyogea wop fro~ tiwe fo tinie ot i1s op~ion roire.
~ ond ofter anr srd~ wivirer, ninstab owy w oll prmnsiows Aereof reqviriny wcb deposih. br noM~ M Mortyopw in writiwy. Wl~ile anr svch waiver is in
effecf, Mortpeppr sholl pop f~es, oas~aswenb ond ins~rrance prcwiuwn os herein ~Iserhere prmidcd.
IN WITNESS W~IEREOF, tM s~id INwep~yw Mr~+nb ~NS hi~ hand tnd s~~l this tM d~y ~nd rNr first ~bovr wntNn.
~
~
~
a~ Siqned, wded M+d delivered - _ - _ _ . - ~ (SE/1l)
~ ~n. p~u~. or: Fred J. Ape 1
~
~
~
ts~?u
J y e A. Apel
~
~ .
~r, .
~ - - - . - '°`"-`-~`t------
. • _
~ ~
• . .
t - - _ ~~~1.'..~~L~/
~ , ~UO!(~UJ r''~
q
•
s~.~.
~'~a ~ ~ ' ~
SQ'""cc.;:. ~~-?--a~'~" f~ .bJ°' a ~S'L . ~`r~.
~rv
.r ~S?c ~,sl a s'''~~r~~~-=.~
'~~sx
_ . . ~ _ - k~~~