HomeMy WebLinkAbout1232 p- To pafam, comply w~th ~nd •G~d~ by ~~ci+ ~~d w~ry s~~pul~~~onf, ~q~~~me~,ea, condu~ons •nd cow~~nh in ~ad p~omn?wy no4 ~nd d~ed aH taM.
7: If ~ny of tM wms ol mary Mr~i~ ~~f~rr~d ~o b~ no~ poenpHy ~nd lulip p~,d w~~hin ~6~ny I101 d~y~ n~n •tr« ~h• ~a~ ~~w.~uy Mcan~ d.» ~nd wr•bi~.
a if ~~cA ~nd ~wry M~ ~iipvbtw~u. iqr~en. cond~uoru. u~d cown~r~h ol ~~~d proml+~aryr na~ ~nd ~h~s mor~yaoe. a~nM~. r• no~ d~.~r palam~d. compi~ed
w~tA and •b~d~d br. ~M ~pqr~p~~~ w~n mennon~d ~n s~~d p.ann~o~y no4 ~MII becom~ dw ~nd par~bl~ /a~Aw~M a ~Mr~~hN ~M opuoe ol ~M Mo.~p~pe~.
a~ luily ~nd co/nol~~~fy u if ~~1d •~q~e9aa wm of mon~y w~~ aip~nally fup~b~~d ro b~ w~d on a~cA daY. anyMm9 m aid pani»ory no~~ a ~aein ~o ~M
eonhuy notw~~h~~~nd~ep.
lo dd~vN ro s.~d ~or~o.y.•. oe w Mfw• MucA IS~A o} e~eA y~u. t~¦ r~e~]pts ~vid~neinp eM payrn~n~ o~ ~11 lawf~lly impw~d ~~a~s iw tiN p~e~d~nq
ul~eda y~~~. ro d~GvM ~o u:d Nbr~q~qe~. ~Kf~pfy ~v~denc~nq tM wr~m oF •II G~n~ fw publi~ ~rnpowma~fs w~~hM nin~ty (9p) d~y~ alqr tM urry ~lult becan~
dw ~nd p~Y~EI~. ~nd a wr o? di~cMrp~ within n~nNy (90) d~Y~ shN dw d~t~. ~ny ~nd ~II qovernrr~n?~1 Iw:ea ~M~ reuy E~ nwd~ on tM matp~y~d p~op~r?y.
on M~s /nor~p~y~ w noN. a in ~nY o~Mr w~Y r~aul~~„q (~an ~M Ma~q~q~ ind~b~~dn~fa ~~cw~d Sy tAif ~na~9+9~: ~~d i1 ~A~s cond~~ew b~ nW con+plied w~~A u~d per-
lorm~d, uid ~norrp~pw ~na~ wy s~rch swn a w~ns wh~c* ~ha~l beco.rr o~•~ o( rM deb~ secw~d by ~A~~ ~nor~q~q~. ~nd sMll Ee~r inte~N~ eM of ~i¦ p~r c~nt.
(6%) w~ ww~n. wv+b~~ s~mi•annu~tly uetil p~id w uid Mortp~pN m~y d~ct ~hu a~id mw~9+y~ dsb~ ~Mrwpon b~cwn~ dw ~nd wY~bl~ /«Mw~tA.
9. h is iWthf! tO~fMnl~d ~nd ~qrNd br s~id wrties +Mt ~n ~As ~wm of •~uit b~~n9 insi~~u~~d w la~clos~ M~s n+or~p~p~. tM Mu~p~pK shall b~ enri~t~d to
~pply p ~nv t~m~ p~nd~nq •~ch faeclo~w• w~~ a ~h~ cow~ Mviep jur~ad:cno~ ~hereo/ la ~M ~ppo.n~m~m of • rsceiwr of ~11 ud sinyulu M~ mony.q•d aov.~~r.
~nd of •11 tM r~ne?. incan~s. pofi». is~ut~ ~~d ~~v~nws tMrwf, /rpn wAat~o~wr swne deriv~d: a~+d NKre~pon il i~ MreDv •,pe»ly cov~eyntsd Md pr~ed
that ~M cou.t shall faN+w~~A appo~nt • nc~~ 9} u~ ~nor~y~p~ P.Q~q ty.;a11 ~nd s~ny~,lar. ~nd o! sucA r~nh. :ncwn~~. aof~ri. tt~w~ rnd nwnw ~Mr~ol. iron~
wM~so~wr taxn daived, wi~h Nw uswl ~ ~nd,~Wti~s ef rei~:wrf~in Lk~ u~~s: ~e+d ~~ch ~ppontm~n~ ~M{I D~ nud~ by ~uc1+ cour~ ~s •~nat?~~ oi f~rict nqA~
1o tM Mw~~pN. iM ~uccessws. Itq~l rp~~s~t~tivN or ~ss~qns. ~nd withov~ r~tHenc~ ~o tM ad~v~+cy w in~d~qwc7r of Mw wlw of tM popeny M~ebv Taty~p~d,
or to tM wl~«~cy or insolvency of tM Nbr~p~pw, and tM~ s~+ch red,.prof.q, ioco~r, isaws ~nd .w~nw~ aMlt b~ ~ppl~~d by ~ucA r~ce~wr to tM p~rm~n~ 01 tM
~nwtp~p~ ind~Et~dn~ss. cos~s ind cMrq~s. ~ccwC~nq w tA~ uda of ~uch towt.
10. 11 • con.~yw~c~ shwld E~ nud~ by tM JNortq~pw of 1M p~emlf« Mn deurised. w~ny pan tMr~o/. w~~Aan ~M wrin~~ con~en~ ol ~M Mor~p~pN. ~nd
w~flaut ~sswnp~ion in rpu~a? (w:n of law ~ tM pr~neN of ~M oblipp~a M~ Mw~yape~ crea~ed by s~id pani~wry non ~nd Nu~ e,wrfyay~. tMn. and .'n ~M~
~wnt. a~d ~t tAe option o/ tM Mor~9~pH. ~nd w~~Ao~1 notic~. ~11 ~vms of mon~Y secwed Aersby sMll ieun~di~t~lp ~nd concvrnntly witA s~cA convey~nc~ becom~
du~ M~d WY~bb ~e~d in d~(~~11.
11. TMt in tM evenf ~M p~mii~t hK~Ey mw~q~p~d. w~ny put ~IyrwF. sh~ll E~ condernn~d ~nd uk~n fw public va~ w~der tM pow~r of ~m;~n~ danun,
eh~ M,vtpape~ sh~ll R~w fM riyh~ ~o d~n+~nd ~M~ ~11 d~~qa ~wa.d~d fw M~ bkuq of « damag~s to sa~d pr~misN ~hali ~ p~id to tM Mw~q~~ vp ~o tM ~rnow~~
~Mn w+p~7d on tAis matyaq~ ~nd at tM opt~on of ~M Mo!t9ap~ n+~Y b~ ppl~~d upon tM wy~*en+s I~s~ p~yaSN tM~~a+.
12. TM n+ortp~pw E~ndt Ai~n~elt nW to ~r~ct a per/nit ro ~ NKt~A anY new Ev~ld~nqs on the pMni~e~ Mr~in n+orrq~y~d w~o ~dd ro a pe~mlf Io b~ add~d
to any o} tM ~aist~nq improvan~nrs tMrwn or mak~ aeiY chanpes w altention~ in s~id imp~ovem~r.t~ wh~ch emtNi~ly clw~Q~ tM u.n~ a~M us~ tMreof, w~thout
fM writtM can~m of ~M Martppe~. ~nd in tM twnt oi ~ny vid~tion u~t~cmpl ro viol~~~ ~hia a?;pulHion thi~ mwtpay~ ~nd all sums secw~d l+N~by sMll i~
~di.tdy Mcwo. dw .nd col~«~~eb n M. opran or ~h. M«~y.9.._
1~. 11 ia sp~cif~c~tly ~9r~ed tMt time is of eM easenc~ oi M~s conu~ce ~nd i!~s~ no wsive~ o! ~ny ob:~p~no~ hN~unda o~ of tM obt~p~tion s~cwed Aerebr ~fisll ~t ~ny
~ieew M hetd ro b~ • w~~ve~ of 1M t~nu herwf w of tM initrument s«~red ha~by_
14. It fa~closw~ poce~ddnys of anY a~cond mortpap~ a s~cond fr~sf d~ed or any juniw I;en of rny kind zhould b~ intfiwted. fhe 1Nort9asee mar. s~ in op~~on.
immedi~t~ly w the~p/ter declue N+i~ mortq~q~ ~nd tM ~ndebtednesa aecured Mr~by dw ~nd pav+Dl~ fw~hwitA, and m~y ~t ih opnon p-oce~d to (aeclos~ tA~s
enortp~q~.
IS. To tM ~aMm of tM ~nd~btedn~~~ o! fhe Mwtq~qw to tl,~ Mwty~qe~ d~scr~bed Aerrin or secured her~by iM Matyape~ is MreDy wMopated ~o rhe I~en a
li~ns ~nd to Mw riphu of ~M owewa ~nd Aolde.~ thereoi of e+c~ snd ~very r~a~q~ge I~en a o~her incwnbr~nce on tM land d~scrib~d henin whrth i• Wid ~nd/a
s~tiafi~d in whol~ or i~ pa.~ out of tM procced~ of th~ loan descr~bed herei~ o~ fec~red hereby, ~nd the rt~pecliw I~ens oi s~id enwty~ges. I~em a o~her ~ncumbrancea
th~ll ~ and tM, aarr.~ ~nd each of tlum he~eby is preaerved and ~Aall pass ~o and b~ held by tM MortysqN her~in ss setwihr fw tM u~debNdn~sa to tM Morty~qee
I+erein desc~ibed w AereDy sec~~ed, ro M~ same e.r~nr ~lwt would have been pr~se.vsd ~nd would Aave becn pass~i lo ~nd been h~ld ~y ~M JYbrtq~q~e A~ i~ bcen
dvly ~nd reQ~rlarly assiy~td, h~ns~erred, stt over and del~v~r~d unto the Mortg~gee by s~paraN de~d of ~fs~qnment notw~lhsru~d~ny M~ ~~cr Mi? th~ s~me m~y be
satis~~ed ~nd c~ncdled of ncad, i~ be~ng tM ~nteoGon of tM p~ines be.efo ~h~t the sam~ wJl b~ iati~Ged and cancelled of recad by eAe Mlden thereof ~t o~ abou~
tM ~~m~ of Me ~ecwdinq of Mn morrqaqe.
16. To pay s1t an~ ~,ng~la~ ~he cos+f. c~~~gei ind e•penses, ~nc~uo~nq Iawrer~s lees. ~easo~abfy ~nc~~~red a oa+d a~ anr ~~me Oy ~~~c Alb.~~a~ee beca~tie c~ ~he
4a.:~rt o~ *~e Mw~qagor to perForm, compfy w~fh and ~b~dt by tach~~nd every tRt ~~~~~+ar,on~, iqreemer.~s, cond~l~ons, and tovtnan4 ul f~~d D~om~sscry no~t and rh~~
oeed or e~•he~, a~d e~err s.x1+ pav.r~~i tih~ll bt~r ~me.esr frpm d~re s+ ~he ~are p.o~+~ded .n sa~d orom~sswy nore
17. VYh~n anv sinovnt of moery fo D~ p~id by tM Morep~9w fo M~ Mortpaqe~ urwie~ rhe terms Mreof shall b~ in dei~utt. w shovld iAe M«rq~qo. def~ul~ ~n
any of tb~ otl~er terma, provisiom w cond~tions of ~his Mat9ape, then ~nd ie thu us~ Me Mortga9d sMll A~w tM riyht, witlwut noece to the Mo~tqiflor. to
col:ect ~nd ~eceiv~ from sey ten~nt w ksse~ of s~id mwrqa9ed wan~u. tM nnta, issves and pofns of th~ r~al esNt~ hereby mortqaped and +h~ lmprovementa
thsreon. ~nd fo yive proper rec~ipts and xo~inances fherefw. ~nd alter pay~ny all commhs~ons of ~ny r~ntal ~qent colkcK'y tM s~me. and any rusonable anorneti a
fees an•! oM+N necpssry •¦p«~sa incwred ~n collect~ny sa~, to ~pply tM pocceds of wch collect~ons upon any indcbtedness, obt~g~uon w Ii~bil~ry, of tAe
Mortyagw hereunder. iM riqht qr~nted the Malqagee ~nder thi~ paraq.aph sMll be m ~dd~non to, and shall ~ot Lmit w restr~cr, any otA~r r~yM a nqhts ~antcd
?M Mwtyage~ in Mis Mwtpp~.
~ 18_ If tM Mortqaqws ~t tbe tirry of mzkirp Ihis Mortgs9e a fuba~qwnt tA~reto t~k• ovt 6(~ in~ur~nc~ deyigMfiny Ih~ Morty~pea Merein ~s beneficisry w~th a
~ co.npany appoved by tM Morfq~ye~ u~ss~qns policies fo tM Mortq~qe~ fw tA~ pwpose o! securiny U~ mor~q~y~ Iwn hereby aec~red, then ?M Mo.~o.oee sMll
have rAe r~9M ro wr ~~Y W~~~ +ttr~i~g v~der s~id pol~c:n, ~nd •11 wms u eapcnded iMll be add~d to u~d becom~ • pu~ of tM p~incipal inAebtedrK~s secw~d
by M+~s Mwryay~ and ahall be paid by th~ Mor~q~qor fo tA~ Morepayce in iwelva epwl conaecu~~ve monthiy ~nstallments. ~M firat monthly in~bllrn~nt to b~ pa~d as •
~ part of rnd in addirion to th~ enon~Aly payment du~ under Ihis Ma~ga9e in tM (irst ulendu momh Iollow~ny ?A~ e~pending of sa~d wm. S;xh ~vms so eapended
a to ~ea+ ~n~~rest n ~h~ r~te aT wAicA interest is wr~bl~ vpon s+~d qindpal indebredness u~d tM lien ol th~s Mort9~q~ ahall e¦tend eo ~od secun ~he soms so capended
~ toqe~Rer witA iMtrpf tMreps aa Frcnmbefa~ p~vided. '
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~ 19. Thot together with ond in oddition M N~e monthlr par~nt o( p~incipol md interest poyoble vnder ~he terss of t6e note secvrcd herebr, Mortgagor
~ slwll pop ro Mortyopee eoch wonth until wid note is fully poid, oarhel(t6 (1,/12) oF o suw equal ro the OAAIM~ PIl1~IV~ due !or firo, eatended coreroge,
ond other ho:ord insv~ance core~ing Ihe wwrt~oped propertp, plus toaes ond oasess~eents neat dve on the wort9oped prop~~y (dl as estiawted br Mortgayee)
~ lesa oll was olreadr paid ~herefor, ond ro be di~ided bp the number oF ~wnths to elopse prior ro tAe dote v+hen sucA foaes and essesunentt shotl become
K delinquenl. Soid suies s6a11 b~ held bp Mortgoyee in bust a credited to the principal of the loon, W por wid iaiuronc~, to:es, ond ossess~nri ond shall
be applicd on fhe pays~tnt Ihereof wben due. Mr e:cess beld in truat bp Mortyogee when soid (oon n poid ie (rll s6o11 be poid ro Mort~ogw, or his
~ ossigns, or perwnol r~p~esentutires. In tbe e~ent ~i o defavlt w foreclosvre, wid wan hdd in trust nwr be opplied on ony coah ol danwgcs sustained ~n
~ connection v~itA the cdlecfion oi tbe nofe secured Aerebr rhelher br wit, (oredos~re, or otherwise. Mortgogee awr (~o~ tiwe to tiw~e at ils option rai~e,
~ ond o(fer anr such w'ner, reiestate onr or oll prov:siona Aereo( req~iring s~ch depoairi, bp notice to Mo~t9ogw in wrifi~y_ While enr such wo~rer is in
effect, Mort9oyor sholl por taaes, osxssmenb and ins~ronce prem~urns os her~en eluwhere prnrided.
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t~ IN WIINESS Wr1E[EOF, tlN uid Mortya9o? lurwnlo sNS hi~ lund and s~~l ~his ~M d+r ~+~d Ytu f~nr abov~ wrin~n.
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~ S~prted. sealed ~nd deG~.ered r . . . . . . . . (SEA
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t*~ a•s~^~• J Wayne lson
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Gt'~' cs~a~,
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Mary E ~Dolson
k ~'e
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~ B~GK~~~ F'ArE~~Jl
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