HomeMy WebLinkAbout0193 3. To place and co~tinuous,y teep on the bu~:.i~ngs now or hareafrer ~Iwate on sa~d land and on atl equip~nrn~ and persona~~y coverad by fhJs mor~g-
ege, w~th atl premiums tA,:rcon pa!d ~n iull, I~~e ;ns~rancr in the uswt sreiderd po~~ty iorm, in a s~m approvrJ by th~ MOR~C,AGEE, a~~d w'v~datorm
;nsuran~e in Ihe usual ~tanda~d poLCy fo~m, in a s~m approred by Ihe MORIGAGEE, in sucA co~t~pany or to~npan~es af Ihe htO~T`vAGEE may
d~red; and all lire and w~ndstorm insu~ance poi~cirs on sny o( sa~d bvi~d~nfls, any inte~es~ the~e~n or part the~eof, ir, tha aggregate wm aforesaid o~
eacest the~eof, ahaq cont.~in thr uwal ~ta~:dard mortgagee dause or such other clause as Ihe Mo~~yagee may requ~ro, making the Ic?s under s~~d poli-
c~es, each a~d every, payab'a to :ald titORTGAGEE as ~ts inte~est may appea~, and each and eve.y such pot~cy st~ell be prort~pNy asa g~~ed and dti~vcrid ro
any held by sa7d A10RIGAGfF as lurthrr sec~ri~y 1o sa~d mortgage debt, and, not less than ~en (10) days in ad~a~ce ol the expira~~on of each poGCy, fo da-
Gver ro tiaid MORiG~+GEE a renewal thereof, toge~her with a receipt for thr pre~nium ot such re~~ewal; and ~here sha;l be no fue or .vmdswrm insurance
placed on any of sa~d b~iidings, an~ interrst there~n or part fhereof, unless in the fonn and with the loss payab!e as aiwesaid; and in the event any sum
of monry k~comes pay.~Ste under s~ch po~icy Or poLcies said MORIGAGEE sh,~H have the opt:on to retr~vr and apply the same on atcow~l of the indebtrd•
nesa secured hereby w ro permit sa~d MORTGAGORS to receive and ~se it or any part thr~rof fo~ o:R.•r p~~;~os~~s, ,,:~~,•~„r ~h~~,u~ ;;r n,p_~r-
eng any ~qv+ty, I;en or righ! under or by virtue of th~s mor'gage; and in Ihe evero sa[d MORTGAGORS shatl fo~ any ~eason fail to keep the said pr~misas so
~nsured, or fail lo delive~ promptly any of said pol~ties of insurance to sa~d MORTGAGEE, or tail promptly to pay fully any pre~niwn thercfor or in a~ty
respect (ail to pafam, d~scherge, execure, eifect, con~plrre, comply wi~h and abide by th~s covenant, or any pa~~ hereof, sa~d MC~RiGAGEE may piaca a~~o
pay (w suth i~surance or any part thareof w~~hout waiving or affeUing any optton, lien, eqv~ty, o~ rigM undc~ or by virae oi thia Morrgaqe, and thE
f~ll amounl oi each and every such paymem shall be ~mmediatety due and payabte and shall bear inte~rst irom the date ~h~~rof ur.til p~~d a~ the ro~e oi
n~ne per centvm per annv~n and tu~rtli.~r with such inre~est shal~ be secured by the lien of this mOrtgage. .
1. To permit, tommit w su(fer no waste, impairment w detetioratio~ of said property ot any part thereof.
5. To pay atl and singular ihe costs, charges artd e:pe~ses, intluding a reasonable ateo~ney's fee and costs of abstracts of litle, incuned o? paid a~
e~~y time by sa~d MORTGAGfE, becauie w in rhe event of ti~ fa~ture ort the part of the :aid MORIGAGOR fo duty, pranptty and f~lly perform, d~scharge
a,ecute, effed, canpfete, comply w~th and ab:de by each and every the stiputat~ons, agree~~ents, co~daions, and covenants of sa~d pronussory nate and this
mortgage any or e~~her, and sa~d costs, charqes and expenses, each and cvery, shall be immed~atety due and payab;e; v~hrrhe~ or not r?~ere be ~ot~ce d~
mand, attempt ro tallect w s~it pend~ng; and the tull amount of each and e~ery svch payment shall bea. interest irom the date thereof unti{ paid a~ the
r.:f~~ of n~ne per centum p~t an,w~+; and all sa~d costs, cnaryts and ex;~ennes ~ncw~r-d or pa~d, together w~th such interest, shall be secured by ~he lien oi th,s
mortgage.
6. That (a) in the event oi any b~each of this Mortga9e or default on t1~ part of the MORTGAGOR, o? (b) in the event any of sa~d sums of mo~ey
herein referred to be not prompfly and fully paid wi~hin th~rty (30% days nex~ after 1he same severaUy 6ecome due and payable, wi~huut de~nand or notice,
o; (c) in the event each and every the stiputanons, agreements, cond~r;o~s and covenanfs of sa.d pron,~sswy noTe and th:s mortgage any ~r e~the~ are not
;uly, prpnpNy and f~lty pe~formed, d.scharged, exewted, effec~ed, compieted, complied w~th and ab~ded by, then in e~ther o~ any such event ~he sa~d ag
~regate sum mentioned in said promissory ncre thrn remaining unpaid, with interest accrued, and ail moneys secured hereby, s!~all become due and pay-
eo:e fo~thw;?h, or ~hereafrzr, at ihe op~~o~ of sa~d MORTGAGEE, as fully and camplercly as if al{ of the said sums of money were w~ginaily st:pu:afrd
te be pa~d on such day, anything in sa:d prom~sso~y ~ote or in this Mortgage to the tontrary nqtw~ihstandu~g; and thereupon or thercalter at ~he opnon of
s;.d MORTGAGfE, w~thout nor,~r or demand, suit ar !aw or in equ;ty, ~herefore or thereaher begun, may be prosec~ted as if all moneys secured hereby
n~d matured pnor fo its instit~t~on.
7. That in the event that at the beginn~.~g of or at any time pendiRg any su~t upo~ this Mongage, w to foreclose ~t, or to reform it, or to enforce
r~ymem of any c!a~ms hereunder, sa~d N,ORTGAGEE shalt appty ro the Court having ju++sd:crion the~eof for ~he ap}w~n~ment of a Receiver, such Court shail
ic: rhw~th appo~N a rece~ver of said rnortgagrd propeny aH and singviar, incl~d ng ail and s~ngvlar the income, prof~ts, issues ar.d revenves fiom whatever
s=u~ce derived. each and every of wh,ch, it 6eu,g expressty unders~uod, is hereuy mongaged as if speufically set forrh and described in the granr,ng and
habendum da~ses hereof, and such Receiver shau have all the broad and eflect~ve funct:ons and powers in anywne entrusted by a Court to a Recriver, and
s_ch appointment sha~l be made by suth Cc~rt as an ad:nitted equity and a matter of absolute rigM to said MORiGAGEE, and without reference to the
acieyuacy or inadequaty of the value of the properey mortgaged or to the so~vency o~ insolventy of said MORTGAGOR or the defendants, and that suth
r~•~~is, profits, incane, issues and revenues sha~l be appfied by such Receiver accordu,g to the lien or•equity of said MORTGAGEE and ihe practice of suth
Court. '
B. To du!y, promptly and futly perform, discharge, execute, effect, comp!ete, compty with and abide by'each and eve?y the stipu~ations, agreemer.ts,
;or.ditions and corenants m sa~d ~uomissoty note and this mortgagc set forth.
9. That in the event rhe ownersh~p of the mortgaged premises, or any part thereof, 6ecomes vested in a perwn other than the MORTGAGpR, the
:'~RTG4GEE, its wccesscrt and assigns, may, w~tho~t noiice ro ~he ;.:0£TGC~OR, dea~ with s~ch successor or sc.ccessor in interes~ wJ+h ~ete,ente to 1h~s
~~.o•igage and the deb~ he~eby secured in the same manner as w~th f.5ortgagor w~thovt in any way vit~at~ng or d~xharging the /dortgagors' liability here.
~,r:dcr or upon ~he debt hcreby sew~ed. No sa~e of the ~re ~iises hereby mortgaqed ar.d no forbearance an the part of thr MORTGAGEE or its successors
ar assigns and no exrension of rhe time for the payment ot the deb~ hereby secured given by the MORTGAGEE or its sutcessors or assigns, a~~all operate
ro re~ease, d~xharge, modify cF~ange or affect ~he or;g.nal liabl:~ty of ~he MORiGAGOR herein, either in whole or in par~.
10. It is speuficaily agreed tha~ time is of the essence of rhis comract and that no wai+er of any obGgat~o~ hereunder w of the obligation se-
cu~ed hereby shaf~ at an~ tune tAereafter be he:d to be a we~vc~ of the terms hc~eot or of ihe i~~st~~mertt sec~red herby.
11. tn aud.ac:~ to the Ferege ~i~ ~r.cnth'y p~ym:-MS of prin~ oal and int_rest required by the Qrom."sscry no~e secvred hereb~, mortgagor covenants
d agr~es to pay to mo-tgagee ~.ah each mGn!h y pa~-..e::t en add~~ronal svm est;n:ated by mortqagee to k~ equal ~0 1, 12 of t5e annual cost of the foliow-
A-AII reat property taxes !evred or assesse;i ag~i;sr the aco.•e desai6ed real esrate.
B-Prarr ,;~~s on f;re and vv~ndsto~•n ~~:sur+~.ce as here~n r~qu;red to be ca-ried c~ the :m;;roveme~ts s~t~ate on the above desc~ibed prem~ses.
C-Prern~ur+s on wch mortgjge g~aranty ir.surar.ce as mo~tgagee shait {ro:n Rme to time deem fit to carry on the loan sewred hereby_
Mortgagee shal? '.rom time to +;me nonfy mortgager ~n v.riting of the an.ount due and payable hereunder and such sum shaft there~pon be due and
.:ble ort t1k due dare oS th= nert month'y paym~nt and each svccessi~e month thereaiter uotil mortgagee shall nolify mo:tgagor of a thange in such
~ o~nt. Such sums sha:l be appiied by mortgagee toward the paymen~ 01 rea4 property taaes, insurante prem:ums, aitd mortgage guaraMy inwrance
, -em~~ms.
IN WITPIE55 ':JHEREOF, rhe said MORTGAGOR has hereunto set h~s hand and seal the day and year first aforesaid.
S~gned, Sealed and dei~vered in the presence of: ~N ~ K~N~ INC~~ aA Indiana poration
f af)
w . BY! ~ ` ' (Seeq
~k~ Ni.~:~iRC~O Kon , Pr s dent
~ • C~ i•. Lr MiY f A. pT1EST L (seai)
' ..r.~Z!$
(Sea1)
` ~I~ ~~1'':`:-`~ :-~Jaj`~` Mary u Kon~nr Se~retary
; ~ : ,.T - - - - - --~~~Q7imrlRv~..~...+ - - -
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~ ~w, 6 9 34 ~M'z3 2582'79
: :TATE OF INDIANA COUN7Y OFBt.XFIART
~
I HEREBY CERTIFY, That on this 25th _day of______ -j~e , A.D_ 19 73 ,
' :,e'cre me personally appeared -F=aAk . and ~=Y
i
' ~~spectively _ ~ Pres+dent and - _ Secretary - ,
~ Dunn b IC~nns Inc. _ a~I~dia~a
- Corpoiation, fo me
knovvn to be the persons described in and who executed the foregoing instrument, arx! severally acknowledged the exe-
c:;t~on thereof to be-s~iei~'f~a. and deed as such officers for the uses and pursoses therein mentioned; and that they
..A.:µ,
..wey; , ~ ~et.
~jfixed theretq •R~o'~li2~e ^s~a'~~f said corporation, and the said instrument is the act and deed of said corporation.
.j j.
WITNESS m~Ad , ici ~ Fer~-f~;efiee f~~ _ (said county and state.
Th i. s ili ~ ~~M~~~P
~ ~ " ~ , /
John W. L~G ~-+-^f,v- ,,l r~.~ ~
; First R e~c ~~~~~~17d Loan Notary Public, in and for State and Counry aforesaid.~
i A ssOCiatfO~°.;-¢['~~tt P~eZCe My Commission Expires:
; ~ } ~ `1-v~.a~.~ ~ ~ I y 7 S~
~ ,
' Checked By !l~- _ ~
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~oRK2~.6 racE 193
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