HomeMy WebLinkAbout1310 liens and encumbrances ahatsoever, excePting oaly the lien of general taxes not due
and payable; and that Mortgagor does warrant and will defind the said premises;
vith the privileges and appurtenances thereunto belonging to Mortgagee, its succes-
sors and assigns, forever, against all lawful claims and demands whatsoever.
PROVIDED, ALWAYS, that if the Mortgagor shall pay unto the Mort agee the indebtedness
to Mortgagee in the principal sum of _ One Hundred Eighty T~ousand Two Hundred
an~ No/100ths----------------------------------------------------------
Dollars 180~2~?O.QO ~ ) as evidenced by that certain Promissory Note of
even date herewith, executed by Mortoagor and payable to the order of Mortgagee, with
interest and upon the tetms as provided therein, which Note provides that all install-
ments of principal and interest are payable at the office of payee, 743 North Water
Street, I~Iilwaukee, Wisconsin 53201, or at such other place as the holder may designate
in writing, together with any Note or Notes hereafter executed by the Mortgagor herein
by 8nd in accordance with paragraph twenty-one of this martgage, together ~ith interest
as therein stated, and that each maker and endorser agrees to pay alZ costs of collec-
tion, including a reasonable attorney's fee, upon default in rhe payment of said Note,
. and that if default be made in the payment of any installment thereunder and that if
such default is not ~de g~od in accordance with the terms of said Note, that the entire
principal sum and accrued interest shall become due and payable without notice at the
option of the holder thereof. And shall duly, promptly, and fully perform, discharge,
execute, effect, complete and comply with and abide by each and every the stipu2ations,
agreements, conditons, and covenants of said Promissory Note and this Mortgage, then
this Mortgage and the estate hereby created shall cease and be null and void.
AND, tfORTGAGOR IiEREBY COVENAI~TS AND AGREES THAT:
1: Hortgagor xill gaq the principal of and interest on the i~debtedness evidenced
by the said note, at the times and in the manner therein provided.
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~Z. Hortgagor will pay all taxes, assessments, and other similar charges levied up-
on the said premises before the sane becocies delinquent, and will prvaptly de- •
liver to Mortgagee receip[s of the proper off:cers, therefor. In default
. thezeof, rlortgagee may pay such taaces, assess~ents, and other si~ilar charges, ~
iacluding an; penalties or interest thereon (of which paya~eat, amount and vali-
dity thereof, the receipt of the p:oper officer snall be conclusive evidence)
' and any aaount so paid by ;?ortgagee shall becoc~e iamediately due and payable by
Moitgagor With interest at the rate specified in the note secured by this mort-
ga8e• ~ - _ . ' - - ~ .
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~ 3. In order to mere f•a21y protect the security of this aortgage and upon request
; . - by Martgagee, :iortgagor will pay ta ~~iortgagee monthly, in addiCion to each
~ e4nth2p payatent required hereunder, or under the evidence of-the debt secured
' hereby, a sum equivalent to one-twelith (1/12th) of the amount estirsated by
~ l~oztgagee to be sufficient to enable Mor:gagee to pay at least thirty (30) days
before they beco~e due all ta.~ces, assessc~ents, and other s:milar charges levied
; against the said ?remises, aad all insur~:ce precniums oa any policy or policiea
' ~of insurance required hereuader. .To interest shall be payable in respect
~ theseof. Upon demand by..tortgagee, *:ortgagor will d~liver and pay over to
' - •~ottgagee su~h additional sums as are ~ecessary to make up any deficiency in
- the amount necessary to enable Mort3agee to fully pay a.~y of the iteas herein-
~ above meationed. In the eveat of any defau?t by :iortgagor in che performance
ot any of L`~e teims, covenants, or conditions herein contained, or in the evi-
; , dence of the debt secured hereby, :tort~agee cr.ay a~ply agai~st tr.e indebtedr.ess
~ secused hereby, in such a~aaner as `fortgagee c~ay de~rmiae, aay iunds of Mort-
f jagor then he2d by :tortgagee under this paragraph.
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~ 4. In the eveat of the passaoe, after the date of this mortgage, af any statute or
: otdinance deductin~ from the value of real property for gurposes of taxacion,
- my liea there~a, ar chang±;~s~ in any Way the laws aa,r in force f~r the taxatioa .
.of ma=tgages or-debts secured thereby, for state or local purposes, or the a~an- •
' tiet of the coilection of any such Laxe9, 3o as to af;ect th:s mort:Lge or L'~e
ittterest of ilortgaoee hereunder, t.'~e whole of [he priacipal sun? se~ured by ttiis -
_ ~ortgage, with ir~terest and charges, if any, tY:ereor., at tha option oi :Iortga-
j gee, ahall becc~x i~ediately due, payacle and collectible Without notice ar
demar.d.
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