HomeMy WebLinkAbout2947 liens and encun~brances wliatsoever, excepting o~ily the lie~i of geoeral _taxes not due
and payable; and that Mortgagor does warraat ~nJ will defind the said premises;
with the privileges and appurtenances tl~ereunto belongtng to Mortgagee, its succes-
eors and assigns, forever, against all lawful claims and demands whatsoever.
PROVIDED, ALWAYS, that if the Morcgagor shall pay unto the Mortgagee the indebtedness
to Mortgagee in the principal sum of _t~ne Hundred Tnousand and I~o1,l00ths
Dollars , ) as evidenced by that cert3in Promissory Note of
even date hereaith, executed by rtortgagor and payable to the order of ,iortgagee, with
interest and upon the terms as provided therein, which Note provides that all install-
meats of princip.ll and intcrest are payable at the office of payee, 743 North Water
Street, MilWaukee, Wisconsin 53201, or at such other place as the holder may designate
in-wr-iting, -tobe[her..with any Npt.e o.t~[tiate;s hereafter executed bZr,the Mortgagor herein
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by and in accordance with paragraph twenty-one of this mortgage, together ait~~nterest
as therein stated, and that each maker and endorser agrees to pay aLl costs of collec-
tion, including a reasonable attorney's fee, upon default in the payment of said \ote,
and that if default be made in the payment of any inscal2ment therevnder and that ff
such default is not made good fn 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 stipulations,
agreements, conditons, and covenants of said Promissory Note and this riortgage, then
this Mortgage and tRe estate hereby created shall cease and be null and void.
AND, MOR?GACOR KERESY COV~I~'TS AND AGREFS THAT: ~
I: Hortgagor vi1Z pay the principa2 of and interest on the ir.debtedness evidenced
bT the said no[e, at Lhe times and in the manr.er therein provided.
2. Hortgagor ~rill pay all taxes, assessments, and other siailaY charges levied u~-
aa the said pr~~aises before the sane bec~,es delinquent, and will pra.:,ptly de- •
liver to ;ortgagee receipts of the proper_orf:cers, therefor. In default
thereof, Mo;t~agee may pay such ta:{es, assesss~ents, and other si~ilar char~es, ~
inc2uding an; penalties or interest thereon (of wh;ch ~aym.eat, amaunt and vali-
dity thereor, the receipt of the proper ofiicer snall be conclusive evidence}
~ aad eay anour.t so paid by ;:ortgagee shall becone irrmediately due and payable by
Hoitgagor ~aiG`~ interest at the rate specified in the note secured by this dort-
gage. . . _ _ _ . - .
3. Ia order to more fully protect the security of this mortgage and upon request
~ bp Mortgagee, ;iorc3aoor Will gay to ctortgagee caontt;ly, in addition to each
moathZy payutent required hexeuncer, or under the evidence of the debt secuzed
hereby, a se~ eqaiyalent to one-twelfth (1/12th) of the amo~nt estiraated by
Hortgagee to be sufficient to enable Mor=gagee to pay at least thirty (30) days
before Lhey becaue due all taYes, assess~^ents, and other s:.milar charges levied
against the sai3 ~remises, and all iasLr~r.ce premii:ms=oa any policy or policies
~~of insurance required hereun~er. :1o interest shall be payable in respect
_ thezeof. L'pon de~and 'oy ~:ortgagee, ~tortgagor will d2liv~r and pay over to
~ •MosCgagee su~h additional st:r.is as are Recessary to make up any deficiency in
the amount necessary to enable Mort3agee to fully pay a.z~ of the itec~s herein-
above mentionzd. In the event or any default by :fortga~or in the perfarr.?ance
of any of c`ie terts, covenants, or conditions herein contained, or in the evi-
, dence o£ the de~[ secured 'nrzeb~r, :Iortyagee r.ay a?~I~ agai~st [re indebted:.£ss
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~~-~ii--SUC~-Z-~iAAer a c ~ir~ 0 1
, ~ *r~ao~e ~__~v de te~ ne, anv iunds of Mort- _
• gagor~then he2d by ::ortgagee under this paragraph.
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4. In the event of the passage, after t~:e date of this mortgage, of any statute or
ordinance deductin~ frcm the valve of real property for purposes of taxacion,
mp Zien therean, or cnangiag in any +aay the laws noc~ in force f~r the taxarion ~
of ~ortgages or debts secure3 thereby, foz state or local purposes, or the man- •
~ ner of the collection oi any such ta~es, so as to affect th:,s mortga~e or Lhe
interest of :tort~aoee hereunder, tf:e whole of the principal sum secured by this '
mortgaoe, With interest and charbes, if aay, t::ereor., at the optlon ot ;!ortga-
gee, ahall becane i~:.ediately due, payacle and collectiole without notice or
dem.acd. .
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