HomeMy WebLinkAbout4541 TtiIS t10R'1'c;RGI: is Riven as security for that ccrtain note (s) , ,
in thc principll. :.um of ONr MILLI~'? SI~ IlU1~DREll TIIOUSI~ND and no/100 ~
. DOI.L7IRS ($7 ,C00,000.00) ~ j~'hicn ~aia promiss~ry 1~ote be~:rs !
interest; at the annual ratc as set iorth in said promissory
note~and is due on March 31, 1976 , hereinafter ca]led the i
promi.ssary note, z~na if tnc~ Mort~'~c~o~' ;:h~.ll p~y to thc riort- .
gagce s~.id sum, c1I1C1 sliall pay all other sums provided to
be }~:~id L~~: thi~ 11c~:~t,;~.~~;~• :~~:d il:^ p~•c:~ni: ~or~• ~iatc~~ : nd s?~rli p:~-fc~rii~, cotnp!,v ith and j
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abitlc b` Of 1{1C Sll~~ili:,~i.~~~'~ i~"1'iC•i:ltillS~ COll~iltli~~l:~ a111C~ C'(1l'C•Il::IltS Of 1}lC ])I'O.'tll:.^.01'J~ ~
nate and af thi~ :.ti~rt~;.~~c, tl~t~n tl~is :.:o. t~;
~~c Gnd the est.~tc herek?y createcl sh:~11 ccase
~ and h^ null ,cr.d ti•oicl. . ~
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AI~ll '1'2;i~, ZlOI~T(~:1GOIi doc~s here5y co~~enlut and agree ~t~ith the A'Iort~aLce: .
r
l. '1'o ms~:e all p:~~-mcnts of princii~al, intei•est :~r.cl other st~ins of money pay~lble `
by virtu^ of t}l~ pro::Ii~.,cr~• notc ~ti~d this i~Iort~a~;c, or eithcr, promptly on tLc days '
t}1C S1]11C S^l'GT.!li,l' CO:~IC• C1UC. ~
2. To m: k~• ~ 11 ~~^ti•tne~~is of t<\CC~ assessinc~nts, levies, li~bilities, )ier.s for puUtic ~
im~~ru~•~~i:lents, ob'i;;::tie::s c~ncl enca-.~bi ~nce; af erei~3' I]Att2I'C L211tr.1 the ~nori~;~~~;~cl j~~-o~- ~
fTt)' ElC'iOTC S:illl~' ~;'Cc~!:2E' (~CiIT2Cii:~iii, j~TO~'7C2Et3, }lU~:'(:VCT t}l1t F.~ t0 t~l\CS, ~i1\:'."iC~)lt Sjl~~l ' i
t1C 11]FiC:t? }i)' t}1~ ~.lOi'i!;:'S;(~i 1?Ot ~.^.t~?' ti:~,l] ti1C 1`'C'bI'll:il')' 1 i~rr.~e:ii:~,clj ~Oi~O\:lIli:; ~'re d<.tC
saicl txx:~~ r:~~e cluc~. 7''t:e Zio1•i~;.:~;o~ ~l~::il deli~-er to tlie i~Iori~;a~;e: i•eceip?5 e~~ici~•.ici~z~ il~e
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pa~~m^nt of s~ic? tax:•:, ~~r,~^~.:ients, lcvic.;, eic., imnieaiaiel~ uj:on tl~c I,r:t•n~cnt t}z~i-c~of ,
. ~
1S 1'CC;LZ11'~:1 lIl t}:ii ~::I';~tl'i1j:.l.
3. To l:eep : ny .::,cl ~ail t~uilr.in,~
:~:ud all ec;uii~iizent and ~~erso»al prep: riy now or +
hercaitcr p?:~ced oa the i:~or:~::;`,CLI ]):'01?£'I'~Y ir~.i~rc:l liliG~l' ~O~tC1CS uf F1II-I';5:: ii~surance
(~=~hiel~ shall inelt.c?~, b;ii nc~: b^ li:nitect to, firq e~te~l:i~•d toi•era~e atid ~~a?:d~.~isin) i
])~iiCi.C~ \:li{1 C0111~`?121Ci il2TCi a t;~'?1:S ii'.)~)iOt'CC~ U\' t)1~ 1iU:'~~::~CC I!!]Ct $UC}1 1::5:11'1~:Ca? Stli:ll
b~ cai~i•ic~l in r.motcT,:s hicl~ t^~ :~iort,;~ ~~:~e ina~- dc~enz s;tfiiciczit foi• its colnl~lete pi•o:ec-
tir?n l:ai in i:~, ei•ent l^,, tl~rcti ihe ~;i~irec:~~: l s~~~n of ihe pro:,-?i~sor~- not~_ 7'he ~~r~ iz~iums
for all s~:rh i~a~urr:~~ce ~S~~:jl p~:ci i~~' i;:^ ~iortLh~~.'f~C~I• r.~~t ltcirr il}an fift~c•~t (l::) ciztis -
ltii:f01'C .~lt: i 1'C• (lUl.'. ~rl:':• ~i:l::~ (~i SC~f'il ~ipjiC~j O?' ])C`?7Ci~j $!1.^.}1 UC Ci^2]\'C:'CL3 f0 1!]C~;
l~i:'i<.i - ~ . . 4 _ j`~'.~ ll' ',.j}l. t.t ti~ ~,if::~~,` ~Y: l~:il~~~'•f: .:~t~ :1]!_'i!
OY C(~'i:' . • _ , _ . _ : . 1~. . : . , , ~ . ~ :".'.j:
t:..... . . : . ' ~ . ' ' : ' _ ~ _ ,
;C'i~ 1., ~'-._,i_._ li_ .._i. li-:~ L'`.~c2:~ _-t\'•. ._:1 C'' ':t~'._!~ i'~~~~_..t, i'
L?t1Cl!'T ti!l':i L)ii1C~' Cl' ~?O~1C'1:'i, ii;t' ~\i(~:i,; ~e ;':::ll 1!Z:~•e tl~e Oj)t1O:1 ~O I'fC.:lt'~ :L•G .S'.~')i)•
the same c,a ~~ec~~.~i,t o; ti;c ir;clebtc~ci:teas nereL~- scctiz•^u a~ains! p~+~ni~iits uf p.ltt"j~11 ~
1!1 1}1C 211\'C7~Sf` U-'(:C•I' Oi t:?C3I' I:ic"~:121'I:C~ Or t0 I:?i i t}':, 1.IQTi„<<t~: tG TCCCI :'E' :!~C~ ucn
77 \ ~ 1 r { O ~ K :
lt~ OT c..l)' } 2!'t Z.1Cl'l'Of~ ~(~i O.}1C2' ~~i:~~~O~~S, ~t'li~lOtlt t}?:I'f~JV \..a]\'lil,, 0I' 11?'1T~cl?'11:« Fi?]} ~
C(;Lllt~~ ~1~'Sl O'i 2i~;j1~, 1111G~r r,nd b~' \ll'ill^ Of ti•.?S ltOai~;~ch'.^.~ ~rj'C p:a.G?l~ O~ ~iLIC:l 1:25[II'- ~
aiice and ti:e pa}•i:~~ of th~ }~remium of st~^li ir~su~•r.alce oi• an~ p~rt t}icreof b~ the
~ZOTt~!%~^t': St..lIZ t~U~ D~ CiCC!'?CC3 f O 1': c:ll'C' Q~ 2~f~ C~ 8.?V ri~nt of thc ~;ort~T.?~t' hcreund^T,
includ:n~ t~:~ ri~ht to fo:•ec'.o,~ ts~is ;:iorlsage, and ~ach ai~1 erer.• parn:e~i of in:ara~ce
, SO 1118CGC b}' i~~:.' :~702't ~C-JI~L SilFtll }J~~?' l:l:e:'CSt ~:OF'1 C'~i?.~ Oi ~?Z\'Z:l~II~ thereof af ti?e raie .
of l0i'o re:• a~~num. If tlie lio:ial`;C~ acqaires title to the IT702't~Z.~~,~CG pro~~erty by forc-
C~OSLICC ~rOC^E'CiII1~5 GP 0~~2:.'2'1C1SC, an~- vr.e~rned ~)I'fI71111111S OIl 4I1~' }l£.28I':l 1T15?1~c:7CC ~
coverin~; th:• mortra~e:i pro~.c:~~• anci~held by the ~?ort~;~,ee are heieby ass=:y:~~d to and '
shall be;oa~; to the i~.Iort,;~ ~e~. lf 2t a~~ ::^~e during th~ li~n of ti:is ~iorL~a~~ an~~ in~ur-
ance policies shall 'o~ c: ncelled ~n3 r?t~irned pren:iu:ns a~-ai~u3'_e, these returr_ed pre- i
miums sl~all belori~ to the :+~ori~a~ee ~ nd at the o~tio:l O~ tjl:' ~?o: t~. Le~ s~_~l] be cr~c:iied ~
by th^ ?~lor.~a~*ee a~ai?~s; thc incteb:ec~ness s^eured here;inc:~~. Any ri~i:ts of the ~I~.t-
qa~ee to anr irstira:ice proceeds shall in no ~:~a~ b~ affec~ed or i^~pairecl b~• reason of ti~e
fact that tlzc'~Iortgagee may ha~e instituted fo:e~losure praceeiings hereLnder. _
4. To pArmit, commit, er suffer no ~:•aste; imp~irment, aband~nrnent, or ~~terio: ation
of the mo~-:~;ag~d p:ope: t~-, ar any part thereof, ai~c~ upon the failiu•~ of the lIortgagor to
keep the btiiidi::~s or ~nti ofh^r item of securit~~ nereur_d~r located on the mort~a~ed prop- .
erty iti gocl condition or repair, the i~Iortglgee ma~• ci~rr.and the immedia~e repair of said ~
buildings or s!ich other securi~y, or an inerease in tne amocr.t o~ secnrit~, or the im-
mediate rep~~•m~nt of the deL-t her~b5• secured, and the f. ilure of ~he ~Iort~agor to comply ,
with said de:.zanc~ of the lIo:taa~ee af~er a Ucria3 of fi~•e (5) ua}•s sh~ll constiiute a s
breach of this ~?o:taa~e, and a default hereunder purstzant to ParaUraph i hereof. ~
5. To perform, comnl3~ ~ti•ith and abide by each of the stipulations, agreements, con-
ditions, and co~•enants contained in this ~~Iortbage and in the promissory note. '
6. To pay upon demand an;~ cost, tharge, and expense, includin~ reason~ble attor- ;
neys' fees, incurred or p:,id at any time bv the 11'Iortc~agee arisir~ ~ out of the fai:ure af ;
the hiortga~or to perform, comply ~v:th 2nd+abide bv ar.y of t}?e sti~ulaiions, aarerments, ]
conditio;is a~:d cove:~l::ts of ttte pro:rtssory note and t}~is tiiort~°,~nt, or either, anci every ~
suci2 gayin^r.t sna11 bear in.erest frozi date at the r, te of ten (10;~) per cent per annum. f
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