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HomeMy WebLinkAbout4227 7. I! ~nY o( tM wny of ina»Y Mr~~n ~d~.~d b b~ not parpNy u~d fully ya~d w1~h;n M;rty :]Ol dsr~ M¦t ~teM N» sam~ a~wratlr D~co~ d.w nd wr•b~•. or if ~~cA ~nd ~wry ~M ~?ipul~~~on~, p~~nh. condt~au. w~d cov~nane~ ol .•~d o.an~uwy no~. •~d ~tin reaipap~. a~~~Me. ~r• na d„ly p«furr»d. co1npl~~d w~~A ~nd ~bid~d pY. ~M ~ppp~r~ w~w m~n~~a»d u~d aani~~wr noN ~A~11 MconN dw ~nd Wr~Db Ia~Aw~~A w ~Mr~~fiN tM opt~on ol fM Mor~WpN. si fully ~nd ca.w~~Nhr u if ~~id ~pyp~h ~wn of naewY w~~ aipin~lly ~~ipul~t~d w b~ p+~d on ~~cA dry. ~ny~Ainp in •~id po~n~~?wY a Mr~iw a tM conn~rp notw~tlut~ndinq. a. io d~l~rN to uid Mortp~,~. an w Mfa~ M~rcA 1S~A o! ~ach y~~r, Ni rec~~pn w~denc~nq Nr paywrw~ ot ~11 4w~u~N ~wyo~d ~uM /w ?1» p~c~d.r~q ul~ndar y~a~, ~o d~l~va ~o said Mo.e~~. ~K~iph widw~c~r+q ~M payn~en~ of •II I~~n~ fw ~wblK ~eprov~~nts wiM~e n~n~~y (90) d~y~ ~i~a tM u~ ~MII Mcoin~ dw and p~Y~01~. ~nd ro p~y a diulyrp~ w~th:n e~inNy (V0) d+W ~hu dw d~». ~ny ~nd ~II pow.nm~n~~l Iwin ~M~ w~ay b~ nyd~ o~ tM ino.~p~q~d pop~rty. on Mi~ mw~p~q~ a noN. a in Nnr otAN w~Y r~a~U~~q Iran iM N~o~rq~q~ ind~pNdn~~s s~cw~d by tlri~ rnatp~pr, ~nd il tAi~ cond:~:on b~ ~o~ cenpl~~d w;~A ud pa• fo~~d, ~~id ma~p~p» iway paY su~ a~wws wAicl~ ~Aall Eecwn~ p~n ol ~M d~b~ ~~c~r~d by rAis ino.~q~q~. M+d ~MII E~N ime~„~ eM ~~N o! •ia p~? c~M. . . • _'.x~ "eJ ' £ ~ u~ ~ ~1~'! 3 i~'= L~. d'2' ~ ~ 1,1Z 1'r`7~? _ _ ' _ : ' " ~.r.~i v'~ i.».w-sa. i%7cis::.i sc:::: ~.....3~:i r•- s._ ' _s ; :::tT f ..~-.z_z. . ~:r~- ~ ~3~3~ - . 9. 11 i~ fwfhr co+en~n~~d ~ aqr~ed by uid w~~i~s ~hN i~ U~ w~nl of • f~i1 b~n9 insf~t~~ed a Iw~clos~ fAis mwlp~p~. t!y MwrQ~p» al+~11 b~ ~n~i~l~d ~o ~ppty ~t ~nr tien~ p~~+d~np sueA fw~etwu~~ suit ro ~h~ eowt Mvirq iw~sdiet~on M~.to1 !w tM ~ppo~~~~nt o/ • netivt~ ol ~11 and sinpul~r th~ mwtpap~d prop~rh. ~nd oi dl 1M r~nN. iecaMS. pofib, isswf ~nd nwnws tMrwl, frpw wMr~o~wr ~owu dNived: Md IM~fuoon it if Mrtpy •,p„fh covtn~n~~d and prMd ~Me tM cow/ sMll_fo?Mw~eA ~ppoim • nc~ivw of uid inw?p~q~d prooerM. ~11 ~nd unqulu. and ol ~ucA ~~nh. ~ncaee~. pof~~~. ipw~ end r~venw MNwf, fraw wluuo~wr sowc~ dKiwd. wiM tM uswl pw~n u+d duti~s of rtct~vKS in lik~ usn: ~rd ti~+cA ~ppo ntn~l sMtl b~ ~nad~ by svcA caxt a~ •~nanr oi sti:a ripM ••a 'ti i::~:~ s. ~?';t! r!: QxrlY~~ss c~ ::s:~+•!~ •••A ....:d...t.r re/r~• u. d.. .A......ry .r inaA.......ry ei M. val.r wi ~A. l........~y I..r•6y .ne.~qu~d: a ro ~M wtv~ncr « insolv~ncy o! tl» Mor~q~qw. ~nd tAU sucA r~m, poGti. inco~ne. issws ~nd nv~nw~ ~MII A~ ~ppl~~d py ~uch r~c~~wr ro N» wr~~~ oI ~ morp~p~ ind~bt~dn~ss, co~b ~nd ch~rpp. acwd.rq a rM ad~r of sucA cowt. 10. 11 a conv~Yanc~ ahould b~ nwd~ h~ ~M Morppor ol Nr Cr~m~aN Mr~i~ d~saib~d. w+~w P+~ ~Mrwl. w~~haH tM wrinM cons~m of tM Morty~qH. ~nd . w~Aqu~ usuenption in rp~l~r Ia:w d I~w ~ ~M p~ntN of ~M oWi~~ion w M• Mu~p~pN cr~afed Dy uid paniswhr ~wq ~nd Mi~ mwtq~q~. ~Mn, ~nd in rMf w~nt. ~nd tM option of ~M Mafp~qN. ~nd wiMaA notK~. •U ~vna of mon~Y ucwed Mreby ~MII invirdiakly ~nd ca+cwr~ntly w~M ~ucA con.eyanc~ b~cww~ dw and wr~b1~ ~nd in dd~ult. 11. That in eM ~vent Nw M~m~sa Mr~bY ~~9+9~. w~ny P+rt fMrwf, sAall M ce~de~~ ~nd uk~n Iw prb~~e vN under tM vow~r oI ~.Nn~ dan~~n, rM lNortp~qN aAall Mw Nr riqAl to d~nd tMt ~11 d~sq„ ~wMd~d for tM Nkinq of a d~Tay„ ro saiA p~n:ses ~MII E~ paid ~0 1M Mwty~qN up ro tM ~~arn1 rMn w+paid on Mi~ nwrty~p~ ~nd ~t Hr op~ion of tM Mutq~qN nry b~ ppli~d upon r~ wr~a Iu~ p~yasN tMr~on. 12. TM morlp~pw bnd~ hiins~lf nW w u~ct a qr/ni1 lo b~ e*~ct~d iny n~w build~nqs on tM pawisN Iw~~n mw~y~p~d w ro ~dd to w penni~ to b~ ~dd~d to ~ny o} 1M ~aiatieq i~nprowen~nN tMr~on w m~k~ ~enr eMnp~s o. ~tM~tio~a in said ir.~prove~nA wlueA en~tNUllp eMnp~ 1A~ ?~nw a tM us~ tM~wf, w~thout rn~ wtin~n cpn~n~ oi 11r Monqaq~. ~nd in IM ~wnr of any violation w ~nanp~ to wolaq ~his ~rip.rl~r:on tlr~ ~rqrtp~q~ ~nd NI sw++a s~cw~d Mr~by sMll im~ re»di~ky b~ewn~ dw and edl~a~pl~ ~M option o( fM Mor~q~qN. 1~. If ia sp~cificalty ~pr~ed tMt ti~ it o( tM asenc~ 01 M~~ coMracl ~nd M~~ no w~~ver o/ ~nY os•~9+tion hK~ue~der or of tM obl~q~~~on s~cwed h~r~by shall s~ ~ny t~rr~ A~ Mld to b~ • w~~wr o! tM Nr~s henof w of fM ~nstrument secwed her~CY- 11. If fa~ttosur~ pocMd~nqs o1 ~nY s~cond mortq~y~ w t~cond tnnt de~d or sny junip li~n of any kind aho~ld D~ intlit~Nd. tM ARwt9sse~ n+~y. i/s option, ~mm~diaf~ly w tl~Nfnr d~cl~re tAia mortqaq~ ~nd M~ ind~El~Mn~ secwed Mr~bY dw ~nd D+r+b~~ fathwiM, ~nd ~Y ~t its op~,on D'oce~d ro iweclo» tAis mortq~p~. IS. To ~M ~¦nnt of tM ind~Wedn~~s oi ~M Mort9a9or a tM Mortq~pea desv~bed h~re~n or sec~r~d Ae.eby iiw Monpaqea 7s Mreby s~Eeoq~?rd ~o f1+e I~en w I~rns ~nd to ?M riqhts of ~M owewn ~nd holden rlK~eof of ~~cA u,d tvKV marq~ye I~ee~ or oiher incwn~.~nc~ o~ ~h~ land d~scr~ped Aer~in wAich is w~d ~nd'w ~~t~ifi~d in wAol~ p in p~rf o~t o/ tM proceeds of tA~ lo~n descr~b~d I+er~in a~ec~red herebY. and tM rtspec~iv~ liens of s~id inony~qes. I~er.a a otAc~ ~ncumbancea i~~ll b~ ~nd th~. sMe~ ~nd ~ach o( tM.n Ae~eby i~ w~sened ~+d sA~ll pass ro•nd b~ Mld br ~M Morep~q~a Mr~in ~s secwity fw tM indebtednesa ~o tM Mwtp+qe~ 1+er~~n dtstrib~d o~ hereby sct~red, to tM sune e¦r~nt tha~ ~t would !uw been prefe+vsd and wo~!d M.r~ been pafse~ lo u~d been MId by tM MortqaqN hsd it been d~ly and rpululy a~tip.Nd, IranslMred, sN ow? snd de~~w~~d ~nro tM Mor~q~qee by sep+~at~ dnd of assiqnment notw~tAst~nd~nq tM fact ~har iM s~~ may be 4 ~er~s~~ed ~nd unc~lied of r~cad. ~t beinq tM ~n~~ntion of the punes ~ereto tAat the uine w~lt b~ ut~sli~d and cw~ce~~ed of ~ecord by -1+e holder• tMreof N a~bo~t ' rna nr.» of M~ r~cad~ng o/ M~s mor~p~ye. 16_ io pay all and f~nq„1~. rhe cosn. charqes and e.DMSes. ~nu~d.nq 4wre~'s fees. ~casonsb~y .nc~.~ed w pa~d an~ ~~m• by ~~e Morrqaqet. Deuuie c~ ~~e ~e -_~e o4 ~Re Mo+~qaqo. N perfw~+. co~npl~ w~~A and ~b~de Ey exh and ev~ry ~I+e a~~P~:at.ons, aqreemenrs. cond~~~ona. and mrenanri o4 sntl prom~~so.y no~e +~d rh~s ~•rei o. e.rhe., ~nd e~ery lutA D~Yr^Mti ih~U bear mreres~ frpn dafe ehe .~~e p.o.~ded m sa~d wom~ssorv no~e 17. Wh~n ~ny ~n+ount ol moewy to M p~id by tM Mor~p~qor fo tM Allwtp~pN Lnder rM ~erms I+Hwf sMll b~ in d~(~ult, a shoutd ?M INortyapo. de1~v1~ ~n a~y of tM otMr te~ms, povision~ or cond~tbns of tAis 1Nortqy~, tMn and in th~~ c~s~ the Nbrtg~ye~ shall A~w tM riqh~, withw~t noGU ~o rM Mo.~yspw, to 'i ,o~~ect u~d receiw iran ~ny unant or IeasN of s~id mwtyaqed pr~misa tM ren4, isaues ~nd po(~ts oF tM ~NI est~~~ her~Ey inoreQayed ~nd ~M unprovernenh j ~hercon. ~~d ro yiv~ prop~~ receipb ~nd ~cQuinu~cp IMrefw. ~nd siew p~y~np •II comm~~s~ona of ~nY renNl pent colkctinq tM s~rne. ~nd sny reasonabl~ ~nwney'a i fees ~nd otAv neceuuy ~ap~ns~~ incwred in colNctiny s~rm, to apply ~M proceeds of such colkct~ons upon anY indebt~a~ess. obl~y~tion o~ lubil~~y, o( tM - ! Morfq~por Aerevnd~r. TM riphf qr~med the Mor~y~ye~ under Mis pupr~ph shall b* •dd.t~on to. ynd sh~ll npt fimif w rtatrict, ~nr orMr r~yAr or nqArs 9raro~d - ! ths MortpayN in tAi~ Mortyaq~. I ~ 18. If N+~ Morty~qo?s af the t~m~ of entkin9 ~his Morty~q~ w subs~awnt ~h~r~ro tak• ovt I~I~ insw~nc~ desiyn~tirq t!» Mor?y~qe~ Aerein sa benef:ci~ry with a j company appoved by ~M Mwtqaye~ w~as~y~n pol~ciH ~o tAe Mwfqaqe~ fa M~ pxpose oT secw~ny tM mortp~pe lo~n hereby secwed. then rM Mwtp~yee aMll ~ na.e the ~:qAt to psy any pc+niwn ~ccruiny undsr said pol~cin, ~nd sll sums so eapended sMll t» add~d to and becony • p+r~ oi ~M p~nuw~ ~~~~b~cdne~s s~cwed ~ ty rhis Morlq~pt ~nd shall b~ P~id by tM Morty~qw to fM Morly~qee in iwetv~ epwl consecut~ve monehly init~llinenls. ~M finf monMly inst~llment to b~ paid ~s • ~ o~rr of end in ~ddition ro tM ~w~,?nh wrme~:' du~ v~der tAis Mwtqap~ in tM fira~ c~lendar mon~A (olbw~nq tM •apend~nq of s~id swn. Such awm w e,pended +o bear :nt~.est at tM nte at wfi~cb inr«esf is pay~ble opoo s+~d prindpat indeb~edness and th~ I~en of ehia Mortq~y~ ~hall eatend ?o and secur~ the sums w capended i ro~crhn wirh ~nter~st ~herwn u her~~nDefa~ p~ovid~d. i ~ 19. ThW togetMr ~vit6 and in addition M the ~~e~r ~r~~~ oF principol ond inttrest poyoble under t6e ter~s of M~e nor. secwed he.eby. Mortgogor ~ iholl poy to Mo~t9o~ee eocA wonth unti wid wote is fully poid, onc-Mre11eM (1 !12) of o su~ equol Io the onn~wl pr~wi~~ dve for fire. est~nded co~eroge. ~ and other Iw:ord iasuronc~ corerenp N~e sortyoped Properyr. plus ta~r. md ossessmenh next due on fl~e wwtpop~d prop~rfp (dl as estiwoted bp AAorlyogee) le~s oll wws olreody poid thertfw, ond to be di~ided bp 1he nvmber ol ~ths q elops~ piwr b tlw dott when sutl~ Maes ond assessaent~ shall becow~e j de~inQuent. Soid su~s shal) b~ Mld bp Mortyop~e in trust w credited b the principol of t~e loan, b poy soid ias~ranct. Maes, ond aue:s~enb ond sholl . be opplied on fhe porwent fMreof wMn dw. My eaceu held in trwt bp Mortpoy~~ wi~ee wid loon is poid iw fYll s6o11 be poid to Mertpo~w, or his n osu ns, or rwwol r ~senM~ives. In tbe e~en~ of o defovlt o~ fo~eclosvre, wid suws held ie trvst r 9 P~ ~ wwr b~ oppl:ed on owr cosh of do~wyes svstoieed in ~ connedion witA ths tollediow of the note secvred 6ereby wrhefher br svit, (oreclosur~, w oMerv~ise. Mortyag~e rwor fro~ tiw~ b firwe at ih option waire, ar+d after onr such vroiver, reinslate onr or oll pro~isiont hereo! reqvir~ng such deposiri. br eotice to Mwt9opor in writiwp. While onr such ~raiver is in ~ elfect, Morfyayor sholl por teaes, ossesswents ond ins~rance presiuws os her~in eluwhe~e prorided_ ~ ~ s~ s ~ ~ IN WITNESS W~IEREOF, tM said Mortq~pw her~u~ro aNS Aii hand ~nd s~~l Mis ?M d~r u~d riar fint ~EoN wnn~n. ~ ~ ~ i 3 ~ = _.q~ed, seiled and del~ve.ed ~G~~- Y_-"-...-. (SfAt) ~,h~ a.,~,~. o~, Theodore S. Owers ~ . ~ rri r- i~ !C 1[ L I'~ Zs~ 1?~ --(S~AU =4 adelyn,/~t. Owers ~ ~ ~ / : ~ ~ ~ . ' ` ~ ~_-/LJ._ ~ _ , . _ ~/~..Zi~. `3 ~~'~~5 ~ . ~!L "~~K/ ~~?~'~{'L~[I~'N~.~I • • , ~ • ~ • g~~x 209 F.~~ 1220 ~.a ~ ~ _ ~ ~ffi - ~ ~ ~~.a.,~;`~, ~~t. ~ M-- " - ~'a^ . . F._.'~, - ~ . _ 3~