HomeMy WebLinkAbout0232 7. 11 ~wp d 11» ~uw~ d w~ow~Y ~~~d N w wM MMWh~ ~~M v~ w~M~w~ Mrrhr q~! M» w~» ~h« M~ wM NNqlIY b~caw~ d+~ ~ wr~01~.
a il wch ~~vaY M» ~N~tiw~. M~~w'h. ~a^d'~~oiw ~ ce~w+M el ~~id pawi~wrb noM ~nd M~» ~wer~WY~. a~iM~. v~ na drM v~«wy4, ce~pl~
will~ MA ~d~d l11. IIM Mi~~M» fww w~MN~oMd iw Nid pe~wi~~MY woN f1yM bKOwr dw M~ MY1W~ 1pMwilA a M~MMhM N NM OM~ el IM MM~MM~.
a Ivllp r?d ce~oMMN M N sN~ ~yOn9+M w~ o! n~a+~Y ww al~itillr ~~iyulN~d ~e a PNd e~ wcA dw. ~M ~w Nid o?~wrq wa~ a tw~iw N~
cowNMy n01wi11a1MwYw0. '
Te ddiw » Nid Ma~Ma». ew « 6~fer~ M~rcA 1lM~ e1 wd~ t~. nc+~W~ widMC~+a Ny wr~~ e1 ~11 4wlvlh i~woN~ la Mr aa~d~M
u~«+e.. r.«. a d~N~r a ww w1o.~y.qM, ..a~w. w~ew~c:no ~h. o+y~M M~M Nw fe. wiWk ,i~.or.~s widrw ~wn.~r 1vo) d.w •h« ~A. w~. .MU e.caw~
dw ~nd Ow~N. ~wd ~o Pw a~M wiNa~ niiwM f90) d.n ~fNr du~ iMN. MY •wd ~N OwMwiw~m~l MriN Mu wyy b~ w~d~ on M» wartq~~d ProoMM.
on tA$ narlp+Y~ w eoM. a M~I oMM? +~Mi ~~wldwY haw MN Mer~y~Y~ Md~badneu s~cv~d !'Y ~ moity~q~t ~nd if Mi~ conditiow b~ nw towiP~Nd witA ~ Pa-
forwMd. wld sa1y~YM ~Y WY ~uch w~ w wM wAitA ~hall bcowy Y~ o/ IA~ d~b~ wcvr~d 4Y ~~~9~9~. ~nd sh~M 4w iw1KMt q IM ~~N ol tla pM tMf.
ts%) v« «+~wn, o.r•sa .«~+~wny ~i o.w er uid Nbrq~Y» ~n+y ~I~t~ Mst w3d wap~v~ deb Mw~Mpen bcoim du~ ~nd P+b~bM fatAwiM.
9. M h lurdw cown~nNd ~nd +wNd bY ~aid P+~ia Ny~ in ~M w~nt ef ~~vi~ btL~y inst~h»~d a tor~cla~ Mw ~wrrWO~. ~~~WOM ~Aall b~ «+titMd a
pply N an11 VMdinO ~utA for~cbsu~~ wi~ 10 tM cowf AavYN hr.i~ditlion tAw~o1 la tM ~i0a~~nwm o1 ~ nc~iv~w of dl ~nd sinpular IM nany~y~d Y~aOM~Y.
~wd Of all Nw fnconw. C~~ib, ipw~ M~d tMmNS Nrr~o/. /raw wirMo~vw wwc~ dKiv~dt ~nd Mw~uOOw il b hw~Ay ~apna~lp ooven~nNd ~nd W?wd
~Mt M~ cewt Jrll for~hwi~A «prM~~ind`-~~~~~ ~tl snd sirqular. M+d of ~uch w+4. a+conwa o~oHts. iswM snd ~ N+K~of. haw
wh~he~v~r ~ou?p dMiwd. witA r~l M. h lit~ c~s„: ~nd wd~ +v0o:ntwrn~ ~hall b~ wwd~ M~uch cowt a~ n~tN~ of ~trkt riyA1
b IM MappM, iU wawwn. ~ nOn~tNiwa a~ui9ro. and wilAo~A r~a~n q 1M ~d~pwcy a~Y of IM v~lw of 1M popNM ~~Y ~W9~.
a~o ~M wlvMCr w Groti+ncY of Mr Morq~pa.; sn~thlt~If~N. wo(ia. inco~. iuw~ ~nd r~v«wN ~MII +oP~i~d bfr sud? nc~iv~? w~M wrn»n~ oi M~
~+a~o~ iwd~bMdn~sa co~a and dw~, ~ooordyw N l~'~ 01 wd? court.
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10. H a cawN~nn should ~ nrd~~b~r Y?~ Morlq~ya d 1M o«~sM Mr~in d~su~bed. a Mw v+~ thw~of. wiNwu~ Mn witw? conwnt o1 ~M Mortq~pM, ~nd
rrilAeuf au~nW~ow ie eputn fa~e of ~4M? ?y 1M YarM~s ef 1M oWipNiow 1s M~ Morty~pw awhd b~l wid proa~iswry noN ~nd N~i~ iwatp~q~. Nyn, anA in ~Mt
~v~nt. and Nr aWion ot tM Mo?ty~qi~. ~nd wi~AaA notie~. ~It awM of moewY uarr~ I+KepY sM11 inMrdin~l~r ~nd eonewrn+Np wiM wd~ emvrrw~e~ b~caw~
dw ~nd WY~bN ~nd in ddwN.
11. rnN in d,. .r.n~ u~. a.T~••• n.ner Ton9.ad. ««w v«t M«.oE, .~+.u e. cw,ar~»a .~a at«~ +o. w,wk u.. w~d.. u» ow.i« of ~w+a~~ do~ntin.
Nr Maq~~w sMN A.w ~M .iqM ~o drw.nd ~AU ~N dMw.pn aw..d.d fe. N+. atinq oI w d.m.y.~ a~d v~«~ia~s s1~.11 b~ wid a N» 1Mor+y.y.. w~o Mw «wa~m
Nrn u~p~id on Mw ~wnp~Y~ Md af N» pMian of Nw Mort9+9» MY b~ ~iP~i~d oPOe flr Wtl~4 lu/ pay~bb tMr~on.
12. iM mortp~pw bind~ hinwlf na b wet a oM~wit a b~ K~ebd +ep mw buitdnps on tM w~nwsM Ire~b iworty~p~d or a sdd a w vKwrt w b~ ~dd~d
w anY d tM ~aistinp improNnw+b Nwnon a~lu +irp cA+eYM a~Merqam ie wid improv~nb whid~ wrNri~llp cMnp~ tM urw~ w ~he us~ dw~oi, vntAail
tM vrrifNn cons~nl ef fM Mbrry+YN. and in 1M ~wn~ of +Mr viola~ion or Ntanp~ fo vid~N tlrs uiqr4tion Il+i~ maf9W~ and dl suma s~cw~d h~rd?Y sMll iw?
wrdiN~ly baan~ du~ and tolbctiEN H 1M option d tM Morfp~pM.
1~. tt h ~paifiwlly ~yrwd ~Mt tier h d~M ~saurc~ of /h~s contrx~ and ~Mr no waiver oI aiMr ob!ipNion l~wM+dK o~ of ~M oWiy~Hon acu~ed Mnby ~MO N~r .
ti~ b~ Mld 1o M a w~iv~t of tM Nrnr I~~of or ot M+~ im~n~ s~cw~d M+~by.
11. If ionebsun proe~d'inW of ~enr s~eond ~natp~p~ a s~eond truat dwd or any juww Ii~n o1 any kind ahadd b~ im~itw~d, fM AI1or~p~N n~r. a~ ib op~ion,
imnrdiaNly or Mv~after d~clw tAi~ ~nortyp~ and ~M i~dnns s~cwed lw~Ml dw M+d WYabb torrAwiUy snd nyr ~t ib oPrian P'oc~ed a for~cbw Mi~
rnor~9~Y~-
1S. to th~ ~~Nnt o1 th~ ind~bNdnas ot tM Monq~qor ro tM Mw~p~pN d~saiMd her~:n a s~cw~d Iwnbp N» 1lbrty~ps~ :n MrebY sub~oq~nd w tM IiM a
liw ~nd w th~ riphd oi tM owrn ~nd holdaa ~Mrw/ o/ ~ad? ~+d ~w~ry mw~9+9~ li~n w alwr incwwbrw~o~ on ~M Ir+d d~wib~d Mr~in wAith ia Wid ~nd/a
~atafi~d in wlwh w in prt our of N» proce+d~ of tM ban desc.ibed hsrei~ or s~cw~d Mrebp. ~nd M+e rap~cmre li~m oi said monq~q~s. I~ens a wher inc.,'nb~ances
ah~d b~ snd dw. wr+~ and wd~ oi Mrin hareby is pwrv~d and sh~ll pus ro and b~ MW bt~ ~M INortp+p~~ A~raa ~s s~awi~Y for tM ind~Ebdn~ss b~ Mony+9«
Mnin desaiMd w henby suw~d. to 1M sanr e,tent fh~t it wwrld hav~ ba+n pnserwd ind wovld haw btm WssrJ a and bt~n Mld bY tl~ MortWY~e Iwd it bten '
duM ~nd r~WbrM +ssi9mA. nans/~~d, sN ova ~nd dd~vu~d w+w tM Mort9~9N bY swu~t~ dNd o~ usiqrynem notw:thstandinq tM fact ~Mt tM s~m~ ~r be
san~fi~d ~nd c~nc~IMd d r~cwd, it be~np dw inwnrion of tM o+~ries hsrero ~1u~ fh~ swn~ witl be utG~Red and cancdbd d r~cord bY M+e Aolders Nwwf ~t or abart
tM ti~ of th~ r~cord'ug d ~his mw~yaqe.
16. io Wy all and s~ny~l~r Me costs. cha.yes ~nd e,penses. .nclud~nq law~er's (eea: reasw~ably ~ncu.red a pa~d a~ a~y ~~~ne by rhe Mo.~9ayee. becauu o( rhe
f~~:ure of rhe Mon9a9or ~o perfpin, coTply wnh and ab~de by exl~ and every ~he s~~pula~ans. aprea++ems. cond~tans, ~nd covenants o~ sa~d pramuay no+e and +h~s
d~ed. w e~~her. and ~verY s~+ch payments shall btsr imaK? fro.n dare ~t ~hs r~~e p~ov~dcd in sa~d ao/nnsay ~w~e. ~
17. YYh~n ~ny ~t d aw~»Y b b~ W~d bY 1M Morlp~po? to tM MorlyayN w~r Mr hrms lw~wf sMll b~ in d~iwh. or should tlw Mwtq~pw de(wh in
•~ryr of tM o~M~ terms, povisiom a canditian of this Mwt9sp~, tMn and in th~~ u~ tM Mwt~ye~ sh~N Mw Nw riyla, withovt ~wt~c~ ro tM Mort9aqw. to
coll~ct and r~iv~ fw~ ~et/ taunt or I~ssM of a~id mortq~p~d P~eewsb Nw anM. iuws ~nd profi~s of ~M nal esub her~bY wwrtyap~d ~nd ~M ~~wwenrnfs
Nwaon. ~nd tp yiv~ pop~r rac~ipfa ~nd acquinanpi tMrefw. ~nd ~ftw payinq •It coin~usaiom of ~ryr r~ntal ~pent collMiny tfi~ a~nr. ~nd any r~ason~bl~ ~ttwirya
fNS ~nd odw necesaary ~:p~rn~s incurred in collMiny s~, b ~pply tM proceeds o~ s~ch colkct~a~s upon anr indeONdrru. obliq~tion a li~bility, of Me
Mortp~yw he?wnd~r_ TM riyAt qr~nnd Me Abrty~p~~ ~r fAis papr+ph aAa II b~ in ~dd~tan to. ~nd sh~U o01 li~nit a resaid. aery oMwr riyht a?iphd pr~med
dr Mortp~yw in tAia JMorrp~p~•
IE. If t!r Morq~pws s~ tM tien~ of makinp Mis Monyp~ a subs~pu~nt tl~~~o pk~ ou~ lif~ insuranc~ dasiqn~tinp th~ Mortp~qa~ herein u beneficiahl wi~h a
~urw+~Y ~oo~oMd bp tM Mwtq~pN or usiqm polici~s to ~M Mwtq~yw fa M~ purpos~ of secwiny tM ~nwtp~q~ Iwn ht~~bp t~awed, M~n ~M Monq~pe~ al+~ll
; have tM ripM ro P+Y +~Y O~anium accruin9 w+drr s~id Pdicias. and sll swns so tsv~+ded alull b~ add~d a ~nd Mcaw~ • P+~ d H» Wincipal indebtedness aaawed
~ by this Matq~y~ ~nd shall b~ p~id by fh~ Mortg~gw b tM Ma~p+~ in twelv~ pwl cwisacu~ive inonthly ieatallmanb, th~ finl ~nonrAlp imtdlmant b bt psid ss a
put o! end in ~ddition b tM ma+Mly p~ym~nr du~ under thia Mortq~q~ in the fint ulendar mo~~h follovriny tM e:pendiny of uid swn_ S~ch swes so e~pended
ro Mar .nmest at tM r~ts ~t wh:cA inNrest a WY~ said pi~cip~l indsbtedness and lien of th:s Maty~y~ ~Iwll ~atend b ~nd secw~ tht swm w c:pended
togetMr wi~h inNrat tMnon u heranEtfor~ povidd.
19. ibd topell~ ~ri1h awd iw oddi~iow b tM ~ontl~lp papwent ot principol ond iererest po~rabls ~nde~ 1h~ tK~ oi IM woN sacvred he~sbp. Mort~opw
shall pop b Morlpo~~ ~ac~ ~owtb ~ti said note a fullp poid, ow~-hwlhh ~ 1/ 12) of o su~ eqYOl to tb~ onnual p~e~iw dve for fire, e:tewded corerope,
oad oN~er Iwzwd iwwronu oooer'aq tlw ~~ortpoptd prope~, p~us toaes and ossei~enh weat dw w tM ~orf~ped propN~r (aN os esti~oted bp Morqayee)
I~ss oN w~s olr~ody poid t6er~for, m~d b b~ divid~d bp tl~e w~~ber o! ~owtMs w dops~ pior to tw daM ~rlww wc~ ~es awd oswsswswb s6oN becawe
ddiprewt. Soid w~s slwN b~ Aeld bp Mort~ope~ i~ nvst w aedited ro tM pri~c:pol of 1M baw, b pa~r aoid iwwrawa, wNS, aed assess~enta osd shoq
b~ opplied o~ tIM poq~ewt tl~~of wlrw dw. Aer ~:cess IrW iw trust bp MortyopN wMe soid loaw a poid 'a~ fdl slwN b poid to M«qopw, w 6is
ossipws• o~ penowd npre~ewbtiv~es. Iw 11~e evenf of o deloYlf w fwadoswe, wid s~~s 6eld iw trvst ~wp be a{rpli~d ow awp cosh d do~oyes susla~sed in
c~oaned~o~ tlr cdbcliow oi IM ~ot~ s~cvred INreby w6eN~e~ bp suit, lorecbwr~, w W4rwise. Mw~Yopet ~a~r f~o~ 1i~s ~o tiwe ot ifs optiow ~roine,
ond ofl~r wr srd~ wiv~, rwstate oer w dl pro~isioas hereo( rpuirug wc6 d~posils, bp wotice to Mortyopo? iw rririwp. Whie onr such woi~er is in
eff~ct. 1Nortpoqor sbdl pap f~es. ~ua~nh md 'wwrowce presiwa os Aereiw elsewbere pro~ided_
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IN WITNESS W~EREOf. tM l~id 1Norfp~~o? huwMO sMS Iw hM~d w~d a~+l Min /M dhr ~nd rw Iint ~bow MnitMn.
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Sfprted, u~lcd ~nd defi.~ered ~~'.v_'~if'~c- . - . EAII i
a~,~,~. . William Adair II
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, - ~~-rt%l2GZ ~ G~C~=~.~ cs~nu
~ Donna G. Adair
_ ~ y~j . ~'~~,~_c1
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~ goo~ 213 f~~ci 2',~
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