HomeMy WebLinkAbout0826 A. ?o oMla~. cow~ply w~tA u~d ~bd~ bY ~+c~ ~nd ~wry ~tlpu4r,on~. WrMm~nh. ca+d~~,om u+d cov~n~n4 iw ~~~d p~o~uwY ~oN ~~d dNd ~N IaM_..
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7. H«~y e1 Nr ~ww~ ef nwn~y Mr•~n ~•1«~~d a b~ na aaro~b .nd hdN w~d wiMie ~hi~ty 1701 d~Y+ M,~ ~1qr eM ?~nr tiw~~~lly E~corw~ d.w ~nd Wy~b.--
a i1 ~~ch ~nd ~wry 11y flipulNiont. pr«nrnt~. condi~iaa. ~nd cov~nh of t~1d proiwi~~w~ noN ~nd Ihi~ rex~Wp~. a~~tAw. a~ nol d.ly pNta~d. compl~~d
wt~A ~nd ~bid~d bv. tM ~oprp~n ~wn en~n~~an~d in s~id wanf?+ory noN J~+11 becaM dw ~nd WWbI~ {wMw~~A or Mwr~~few N tM oWion o1 ~M Mor~p~qN.
n fully ~nd cawbNly w if ~aid ~yp~p~N ~ww o1 nan~Y w~s ap~Mlly ~~ipvfN~d b a pud ow such d~Y. M~Y~~K M~~~d pu~iuory nW~ a Mqiw b 1M
conpay netwida?andieY. ` ' `
e. To d~liv~. q uid MonayN. oe w bdw~ M~.cl~ ISd~ ol NcA rw, u: nc~ip» wid~nc7np M~ p~Y~n~nt of ~11 I~wfvlM in~po~d f~a« fa ~M p~c~di~y
u1~nd~r Y~ar. M d~livM b Nid Ma~pay». ~~n:Pb wida~c:np ~M MY~wN of ~11 IiNU fw public ~nprow~nh wi~Ain ~iM1y (a0) d~y~ alNr tM ~MII Mcon» ~
dw ~nd WY~. ~nd to WY « d~K~a wiM~n roMM (~0) d~Y~ ~fNe dw d~h. ~ny r~d ~11 pova~n~~l Iw~„ Mal ~Y A~ nwd~ on N» nw~lY+9~d VroOKh. 3
o~ dw~ morfp~q~ a ~oN. a in any wM~ w„r r~wl~ino haw eM Marp~q~ ind~bNd~wss ~~cw~d sy ~hi~ rwo.tpap~; ~nd i( d~i~ condl~ion b~ ewt eompli~d w~N~ ~nd pe~-
fu~d, uW ~wor~~p» ~r wr sucti ~ww w aww~ wAtcA ~M0 E~can~ pMt of N+~ d~bt ~~cw~d b~r ~A~~ inw~p~p~. ~nd ~MII EeM inNr«t a iM rN~ 01 ~ia qr c~n1.
~a%) o.. .~,w~ av.bM .aa-«~~iM ~til p~W p s~id Mortq~pN n~aY ~I~c! M~1 uid rnwfq~q~ dtbl ~Mr~upon Mcanr dw and Wy~bN IaMwitA.
9. It b fw~Mr con~u~d ~nd +wNd bY s++d w~iM H.N in ~M ~wn~ o( • sutt b~iny imtinned ro f«~clo~ Mus nw«p~pb ~M Mortp~p» Ju11 b~ ~nutl~d ~o
appN N~ny tinr p~ndiny ~ucA fa~cbaw~ ~uit a tM court Mwq iw~~drc~ian Ma~of fw t1y ppanlm~nt ol • r~ceivw d alt ~nd sinp~t~r N» nqrp~y~d popwty.
~nd of ~N tA~ r~ne~, iaoww~. wofi~s. i~w~s ~nd rev~nw~ 1Mrwf. han wMtw~v+~ sowu dNiwdj ~nd ~Fw~~row~ i1 h hM~bY •aprh~b coven~+~ed ~nd p~Md
rAat Ny taxt aAalt forN~wriM ~ppan~ • r~c~~vw of wid ma~p~~d poperty. ~II ~nd ainqula~. ~nd o1 sud~ ~b. incoin~~. profit~. iuw~ snd nwnw tAwwf. Irom
whatw~w? sourc~ d~riv~d. wi~h ~M wwl po~wp~ ~nd du~iN of ~~niwn in lik~ uu~: ~nd wcA ~ppo~n~~n/ Jwll b~ ~w+d~ 01l ~ucA cowt a•~~»~ 01 tnict rpM
ro M» MortWpM. iM wcc~wn. Ipd rpru~nNlivN w~~u9b, and wi~hoN nlM~nc~ a ~M ~d~Vuaclr a in~d~qu~cy of M» v~lu~ oF tM pope~M Aa~~bY morfqap~A, r
a ro ~M wlv+nty a i~aolvency of ~M Mw~Wpa. and tMe such r~nf. protib. inconr. iaswt w+d r~wnus~ ~MII A~ ppli~d by sud? r~c~ivK to tM p~Yn~ent of dw
rrw~p~p~ ind~bNdrris. to~b and tharpp. ~ccwdi~q b 1M ad~r o! ~utA courl-
10. 11 ~ conwq~ a1~o~lA E~ n?~d~ b~r rM 1Maq~por o~ 1M onwwsM Mran d~w~bed. a~nY PM tlwrw/. wiMw~~ N» vinin~n corwnt o! ~M Matqp~~, and
withoul ~siuwwfiw! M~pu4r fora ef 4w Ey tM p~nN~ of ~M obliyNion to M~ Mortp~yN cn~Nd Eq utd waw~iswhr noN ~nd N~i~ ~non9~9~. d+~n. w+d in N~a~
~wnt. w~d N M» eWion ef Nr Mor~yap~~ snd wiMa~ nMic~. ~11 ~uwr of ~y ~~cwed Mnbp ~AaN imn»di~NM w~d ca+cwnndy witA fucA conveywic~ b~can~
d» and V~Y~bi~ and 'a~ d~taull.
11. TM~ in IIN NlA1 IM W~Tisq A~r~by nartp~p~d, w~nY Prt tlwwf, ~hall b~ co~de~i ~nd uk~+ for PuWic us~ ~M pow~r of ~niiwm danain,
eM Mprtq~qN ahall h~v~ ~M r:yM w dr+rnd Nwf dl d~s sw~rd~d iw N» akuq of a d~.n~p~~ a wid pe~:a~a Jyll b~ wid a tA~ Ma~p~pN up ro Mr ~~noun~ '
fMn t~id On IAis wwrly~q~ ~nd ~I M~ apfion o1 fM Morfp~qN nwY ~~PP~iNd u0on IM WYwwnb laat p~y~AN lMnow.
1~. 7M ewrtp~por b~nds hinatlf nW b~rM w qrwrf fo b~ ~r~ct~d ~ny n~w buildinp~ on IM M«nisp Mhin nwrty~yd w b ~dd b or pernw~ b b~ ~dded
ro~ny oI /M uininq t~nprov«w~nh ~Mrwn w mab ~r ch~eqw a~her~tiom in faid iinprov~~~b wh~ch nyNri~llp ch~np~ tM u~ne w~M us~ tMrwf, w~~hout
tM wrifNn conf~M of tM MortpWN. aed b? 11r ~wn1 of ~nY viobtion a ~nanp~ to viol~N tliis ~t~qrlation thif ~atpp~ aid ~11 ~wns sttur~d Mr~by ~MII in~
~di~Mly b~cqn~ dw w~d colbaibb N tM option of tM Mor~y~p».
13. N i~ sp~cifiully ~yNd ~Aat ~iwy is of N» ~ss~nc~ of this conu~ ~nd that no w~iver of any op:iy~tion Mrwnda w of tM obliqation s~cwed M.~by sMtl a~ ~ny
~~rn~ b~ MW to b~ ~ waiwr of tM hr~ 1»rwf w of Mw imtrwn~nt secvnd her~~y
11. N io~~claw~ procNdnq~ ol any s~cond monp~p~ a s~cond tnrat dNd or MY iun~or lien of ~ny kind ~Aould D~ i+atiw»a. tM Mo+~p~qe~ Tar. in ope~on.
~mnwdiat~ly a MwNft~r d~clar~ Mis n+ortpsp~ ~nd tM ind~bt~dn~u ~~cured Iw~Mr dw a~,d wr•w. iwMw~d~. and ~r a~ ib oo~im poce~d to for~cloa~ Mis
nw~tp~p~. '
15. To th~ ~¦rw~t of tM ird~b~i~ of ~M Monp.yo. a N» µor~y.y~. dnu~b.d i+.ran or secw~d Mnby t1~ Moreppe~ H Mrebv svbropa~d a rM li~n a
I~~ns u~d a N+~ riqhes o} ~ owmn ~nd Aolden thereoi of NcA ~nd ~wry inw?g~y~ lien w aMr incvmbrarc~ on Nw Iw~d d~fcrib~d Mr~in which is ps~d u~d/w
sarisfi~d in whol~ a in pa~t ouf ol M» proce~ds of tM Iwn dncribed he~e~n w s~cured MrebY. ~nd N» rnp~criw li~ns ol said mwfq~9e~. li~na w othe~ ~ncumbrances
sMll b~ ~nd tM. s~ ~nd wch of Man Ae~eby ia puerv~d w~d sl+~ll p~ss to ~nd M IrW by d+e Mortp~qe~ Mr~in ~s tec~rity for tM indeb~dnea to tM Monqaqw
her~in dacrib~d a herebp secwed. to IM sa~ •itrnt Mrt it would Mv~ ~stn p~serr~d ~nd warld haw b~en passrJ to and Men A~Id by tM Mwtp~~ Md i~ been
duly ~nd rpularly ndqn~d, hwfMr~d. wt ow ~nd ddiver~d unto tM lWa~g~q~e Sy sepu~b deed' of auiqrwn~nt notwidut~nduq tM fact ~h~t tM s~ maY ~
ut~sf~~d ~nd curcdNd of ncwd. it b~:nq tM imemion of tM pwti~s Aereto rM~ ~h~ s~ wJl b~ s~tisfi~d ~nd c~nc~lld ol r~cad Ey rM Aolders tMreof ~e a abow
rh~ Nen~ of ~M r~eordinq d ~h~s ,nary~~.
16. io pay •tl and s~~qular ~he cwrs, cbuqes and eapenses, ~nc~ud~ny lawyer's /ees. nasonably ~nc~rred w pa~d a~ a~y ~~me bv ~Re Marqaqee, because ol the
~a '~...e oi ehe Ma~qa9a io p~rfpm. comply wdA aed ab~dt by exA and e~ery rAe s~,pol~nons. aqreemenff. cond~~ons. snd covenanra of sa~d pwnnswy ~+ore and ~h~s
aee~. w atAe~. ~nd e.ery such p~rmenh sAall bear ~nterest (rom d~te at the ~are prov~ded m a~d prornnswy no~e
17. Wh~n arry ~~nwm of w~oewy b b~ p~id bp fM Mortp~yw ~o /M MorlpapN w~d~r th~ terms h~rwf iMll b~ in d~(wlt, or tlw~ld tf+~ Mwtp~yw d~f~uh i~
any oi tAe otMr terms, pariaiau a condit~ons of M:s Mortp~y~. ~Mn and in ~1+n us~ ~Me INorry~yea sMll Mv~ th~ riyht, wi~ho„t naic~ ~o tM Mo.~p~pw, to
cotlect ~nd receiw fran any ~«wit w ItssM of a~id mortyapd pr~w~stt IM rMh, iuuea ~nd pof~h of tM ~wl e~t~t~ her~by mwtqayed ~nd tM i~npovemanb
M~rewi. ~nd to y:v~ popK nc~iNs ~nd ~co~in~nc~s tha~lw. ~nd aha~ parlnq all cannusa+an of ~ny rMUI p~ro colka~ny N» unr. ~nd anr reason~bM ~norney's
fees and oNrr ntceuarr ~:p~ns~s incwred in collMiny sarn~. M apply tM poc~eds of sucA collMiona ~pa~ anY indest~dness. obligation w Ii~Ei~ity. oi tM
Mortq~~or Mrwnder. TM ~i9At qr~nted the Mortqpst w~der thi~ parprph sh~ll b~ in addition ro. ~nd sMll nW I:/nit w rM~ict, ~ny o~Mr r:qh~ w ripl:ts pr~mtd
r~~ Mprlp~pN in this MOrtp~p~.
16. If th~ Msipyws t?~ ivn~ oi ~kirp fhis Morfpp~ w wbsp~~n~ th~rero t~k~ out li(~ inswanc~ dniqn~tinq tM Morty~qe~ herein ~s ben~fici~ry wi~h •
comwnY ~pproved py Nr Allorfy~yw a assiq~s ppliCiy to th~ Mwfy~yN fw M~ pu.pos~ oI uc~,.irq ~M ~narp~q~ lo~n hereby seax~d, tAen tM Mwtp~pe~ sh~Il
ha,.e eM riqAt ro p~ airyr pr~n:wR accrwnq unda uid poi~c:~s. ~nd ~11 swns ao eap~nd~d shall b~ add~d a wd b~conr • p~rt of M» pincipsl indeb~edne~s ssewed
~ tv t?+is MorrysQ~ and sMll be p~id by tM ARwty~qor to tM Mwty~qe~ in tw~lv~ eawl consec~~ive monMly insutlnwnq. tFr iint mon~hlp iin~dl~nt ~o b. w~d a s
part of end in ~ddition ~o tM nw~~hly wy~mnt dw undn this Ma~q~p~ :n tM fint ulend~r ~nonrh foltow~nq tM •ap~ndnq of said aum. S~+ch swns w~ipended
; fo beir :ntNe~t N tM r~te it whicA :nterest is payabl~ ~ipon said p:nc:pal ind~btsdnesa a+d tM li~n of this Mwty~y~ shall e~tend ro ~nd uc~r~ rM swna so espended
~ ~oqether with inNrut tlwr~on p here.nbtfor~ Wovidd.
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~ 19. Tlwt to9eN~e~ vriN~ and in additiow b the sowNJp parwKnt o( priwcipol ond inlerest poyoble uwder el~. ar.s oF eh. eoa Ha+r.d 6e.sbr. Mort9o9or
; shatl pop to Mwtqo?~e ~ocA wontl~ ~~ti said eott. is f~dly poid, one-t~relftb (1 /12) of o ww pud b Mt ownvol p?e~iv~ dw for fir~, e~tewded co~erope.
' and othe~ ia:ord inaurowc~ coverNq tl+~ ~wqrtpo~ed properryti• plvs toats ond oisesamenh ne:t dw w t~ ~ort9op~d p~upKfr loU as c~tiwoted bp Mort~ee)
q less oN w~s dr~odr poid tlknfo?, ond~fo b~ d'nid~d•bp tM aewb~r'oi wonMs b dopw piw~ to tly do~e wh~M wd~ Iwies asd owu~enb sbdl beco~we
~ delinqvent. Soid w~s shaY b~ bld bp lrlwtpope~ ia nust w v~d~ted b tbe pri~cipol of tL~ loow, b pop aoid iwwrowa. ~ous, owd aa~essaenb ond sholl
~ be applied ow 11~e pop~eat tl~~of ~rl~en dw. Mp ~ac~s INId in trust bp Mo~epop~e wUes wid baw is po:d iw hrll shoN b~ poid w Morfqop«. o? b~s
~ asigns, o~ perwnol npre~enlotnes_ Iw fl» ~ent of o delauh or (orecloswe. soid w~s 6eW iw trvsl aop be opplied ow wr cosls ol da~o9es sustoined in
connedion ~iN~ fM cdl~ctiw af tlw wot~ s~cvred IKr~bp wlwt6er bp wit, /oreclosor~, o~ oN~e~wia~. Mwtyope~ ~a~r fro~ 1i~e ro tiwe a/ ih option woire.
~ and oHe? onr s~ woiw, niwsfaM oey w oN pro~isiows hereof rpviriig wc6 d~posifs, by wotice ro MortyoQw iw Mrritiwy. Wl~ile onr such ~oirer is in
~ ef(ed. MortyopQr sbol) pop 1a:~a, asstss~enri ond ins~ranc~ prea~i~~s m bertin ~Isewher~ prn~ided.
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j IN WITNESS WNEREOF, tM said Mwfp~pp 1+~rwn?a N1+ Ab h~nd ~nd s~~~ ~hii tM datl Md ]rw first abw~ wrift~n.
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_ t?~ a~,~,K. o~: VincentJ~ames Lov lvo
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