HomeMy WebLinkAbout0919 «~co~l~ ~~I~pw~w ~nd/o~ co~wcliw~ ~f ~ ~riii~ dwN b~ ~cw~d bp IA~ NM oi ~oi~ O~~rl~ .
Mdli~Mr M~el~~ ~w~in. ~~wM ~ co~rdNwi o p~r1 d- IM Orwlop~~t a~d/a ConreMdion loai a lI~owA ,
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1?. ~ono~n. o~r~ rpon d~ond ~o do ary oa o. ~c.aa~ on~r addi~io~ol doa~~s (w~clydinY. bu~ ~a liwi~! ~q, ;
Mc~? oorN~eh on o~r p.nwwh~, ~ndrd.d ar a b~ i~ch~d~d iu dw Ma~Qov~d hvp«b) ~ nay b~ ~~d b~? lM~ a
Ntw~ !h~ Noh o~ co~frin M~ lirn of fiw Monpoo~ o~ ~o c~oa~ply wi~h any of 1M oondi~ioia aaNOiMd in tM ~ pw~d~o»
oo~n»m oi tM la+p T~ l~nd~r. i~ oor.
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13. This Aqre~nNm sholl b~ bindi~ upon th~ po.~ia M?No. a+d tMir ~ssp~ctiw succ~uor~. MN~, P~?~o~w~ ?sp~?a~MO-
*w~ ard oaipns. WM.~wr ~he ~inoulw eun~bn is w~d ha~in, tM sonN sholl includ~ tM plwvl: th~ w~ of onr ~ndM ~IwH
intlud~ oN ~s. WM?~ in ~ Aqt~et Moriqo~ ond Controclot an on~ ond th~ ~onw port~r. tlNn 1h~ a~pwol~ oow
~nonti. wv~ronMs ond r~pr~nw~ions d the Mortpo~or and Conhoctw shall b~ d~volwd upoe th~ sin~l~ po~t~?. WMnw? i~ 1hi~
Apn~m O~sbu.Hnq Aqtm ond Titi~ bnwir~y Aq~nt o~~ o~ ood ti~e son~ poryr, th~n th~ seporoN cow~ts, worroMiK ond ~
~~~ntotion~ of tht Disbu?unp Ap~nt and the Tifle Inwrinp Ap~nt sholl be d~volvtd upon 1he sin91~ port~?• ~
1~. M is speuPicolly opreed that fin~ i: th~ ~sseece of this Aq~eenNnt, ond thaf no woiver of onr oblioatio~ or nqwra
ma+t M.•uod.? sholl o~ dnr time ?nereoh.r be held ro be a woiver of tM tKmi hereu~dtr. ,
15. Al) po.ties executirp tl~is AQreement in o rep~esentatire copatitr ocknowled~t, wonont ond represe~t thot th~ or~
on ol6ciol representot~ve of the firm o? corpwono~ ~n whose nome ther executed thii Aqreement ond thot ther pouess hrll ond
con+plete au~iwnry to b~nd_ so~d 6rm w corporotion to the full ond foithful performonce of olt conditions, terms, provitiont, cor-
enoeb and warrar~»es os co~toinrd in this Agreemsot.
16. All ~ums pa~d o? expend~d in occordonce with anr of thr provisions of thii Aq~eement (except the proceeds of onr
fir~ o~ o~her cosuotry ~nsuronce refe~red to in this Ag~eement), the Note o? the Mort~o~e sholl be deemed odvances to dorrow~? ~
under this /?greerr:ent ond sholl be ewdenced by the Note ond secured br the Mortgoge ond mor be deduc~ed ot the optioe of
lend~r kom anr advonces thrreofter becoming due u~der this Agreen?ent.
1~. 6o.rowrr snoll por al) fees a~d charges incurrrd in the procurinq ond nwkin9 of the loo~ including without linrtci-
tion f~es ond expe~~srs retating to the exam~~otion of t~tle to the Prem~ses, title insuronce premiums, survers, morryoye recwdi~,
documenrorr, t?ons~r., or other sim;la~ taxcs, revenue sramps, arcn~tects' ond engineers` xrvices, ana anorners' fees.
1$. Bor.ower ~~11 not ossign this Agreement or tne moners due hereunder no? conver, asugu, mwtyoqe, pledp~ or
encwr?bet ony part of the Morrgoged Property without the prior wrinen tonsent of lender, but in such rvent tender mar nartr-
theless at the option of lender continue to make oavontes under this Agreement to Borrower or to tnose wFw sucteed to tAe interest
w interests of Borrower ~n thr Mo~t~eged Propeity and oll sums w advanced br lender shall be dee• •eo aavances under ond
not ro be in modificos~o~ ol this Ag~eement ond sholl be ev~dented ond secured br tbe NoTe and tne Mortgage. The Mort~cpo?
ihol) not chonge 7~tle I:~suronce Componr or Agent, Oisbursing Agent, Contractor, ot Superv~sinq E~g~nrer, witnuut lender's wrilten
consent.
19. lendcr may ou~gn i~~ wttOl! Of in port, o? issue perticipaong interests, in ond to this Agreement and tne Note ond
MortQoge to anr otner ~.erson, firm or corporanun pro~ioed tnat oil of the provisions of this Agrsement shall connn~e to opptr to
tha loon, the Nu~e ond tna Mortgoge. In ~he event of such oss~gnment, it shatl be deemed a compliance br tender wnn th~s /lpree-
m~nt ond to F.a~e ter~~ mode in pursuance of this Agreement ond not to be in modi6cot~on hereof and tnc advances made by r
anr such oss~gnrr sha~l ~e ev~dencrd and srcurrd by the Note ond the Mortgage. Mortgugor acknor+ledyes ~not onr pormenq
rnode br it ~~i p~rt~oi ,,r :~mple~r d~uhorgr of the ioan to onr Ayent otnrr ~han tee owner and holde~ of the Mortyoye ond Note ;
of ncord, os recoraed amon~ the Public Records of the ju~isdiction in which the Mortgoged Praperry is utuored, shal! constitute o `
porment ro~he Morrgogor's Agent ond not ro the owner and halder of wid Note or its ogent. In this re~ard it is understood that
unfi) said pormeot is octually in the possession of the lender or its auigns, os the cose mor be, who ot thot time is t~r owne? and
i+older of reco.d of w~d Mortgoge ond Note, soid poyment sholl be deemed not to hove been properlr mode, ond le~der snall I
not be required ro reieose or diuharge the Mohgoge, the Nbngage Note, or anr of tht INortgoged Prope?ry ~n sohsfoction of
the obli9ation p~rsvant ~o the ~xo~;sions of so~d Mortgoge and Note.
, 20- Mortgago~ wdl poy the fees ond commissions of reol estote w mortgage brokers, if onr, m this traosact~on and will
indemnifJl lender f~om cloims of brokers onsing br reoson of the exetution of this Agreemenf or the tonsummation of tne trans-
oction tomemploted hereby.
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! 21. All ~onces, appro~ols, wowers, tonsents, demonds, requests and detiorotions (herrofter caUed "~otices') gi~en o~
~ requir~d to be g~~e~ by r~tnrr parry hereto to the other ponr shall be m wrihng. All not~ces br lender to Borrowrr sholl be deemed
j to hove been properfr g~~rn if ~rnt br telegroph or br U.S. registered o? cern6ed m~il, postoge prepoid, add~essed to Borrower
~ ot tM oddress frrst hr.e+n stotrd, a~o wch other oddress os Borrower nwy from time to fime dcsignote by wrinen notite to
~ lend~r ~iven os here~n .Cqu~red. All notices by Borro.~rer to lender sholl be deemed to have been properlr g~~e~ sent br tele-
~ ~roph or br U.S. rrg~~rrrCd or cern6ed mo;l, postoge prepoid, oddressed to lender ot the address frst F~ere~n srored, or to such
oti+er oddress as ie~d,r may from t~me to time aes~gnote ty wr~tten notice to Bo~rower qiren br tende. o~ :ts oss~gns, os herein ~
~ ieqvir~d_ No~ices g~tirn ~n the manner ofo+eso;d snoll be deemed suH'icientlr served or given for oll p~rposes under this /1~ree-
~ ment ot M+e time such notice shall be telegraphed or deposited in ony post office or branch post office ?egulariy maintoined br
~ tht Unit~d States Governmtnt. j
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~ lender mar ot ony time and from time to t~me woi.e onr one or more of the conditions conto~nea in this Agraemsnt, '
~ but o~r wch woi~er sholl be deen:ed to be mode ~n pursuonce of ~h~s Agreement and not ~n modificonon thereof, ond onr tuch
~ waw? in ony instonce or under onr porticulor circumstances sholl not be conside?ed a woi~er of suth condition in any otfier '
ins?onte or onr other ~~.~~mstance_
~ ~3. Eoc~ porry he~eto ecknowledges h~s full understond~~g of the prov~sio~s of this Agreement, ono tnot tnere o~e no verbol
: p~omis~s, cove~oms, ~nderstondings or ogreeme~ts made ~n connecnon with this Qerelopment e~d. or ~ons~r~ct~on loon Aq~ee-
~ n+~M, ond Mot sa~d Agreement may be modified o~ir by d~~ ~nd properly executed covenam ~n w~~t~ng, s~gned br tne porties
~ t+:?~to ond dulr w~tnessed.
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~ 41. In the erent anr one or more of the p~orisions coetoined ;n this Agreement shell, for onr reason, not opplr to tM
~ och+d trpe of loon in.olved ~n connedion with soid Agreement, o~ whererer onr of the provis~ons or determ~nonons oF thit
~ Aq?~NH ini9ht call for o moner of opinion, lender (or its oss~gns) sholl be the sole ond eaclusive ~udge ond dete~minont oi
~ w~d qrtstions, ond tende.'s dcc~sion with respect to onr of said questions sholl be condusi.e ond bmd~ng upon oll por~i~s M
so+d Aqr~anteM.
8 OK ~1~ PACE ~~9
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