HomeMy WebLinkAbout0399 0. lo pNla.n, coeeply wuA ~n:~ ~bd~ by t~tM u~d ~vKy pipul~uons. p~wm~nh. aond~t,ons ~nd cowrunh in u~d p~aniuory not~ ~ dMd ~N (aM.
7. It ~nY of 1M wer of moMy Mn~n ~dar~d ~o b~ eql paro~H Md tutFy paid wi~Ain IA:rry 1~0) d~y~ n~,~ ~/~w ~M u~ a~w~dly b~eorn~ d.H w~d p~v~l~.
a if ~acA ~nd ~wrY ~M stipu'~~an~. WrNn»nn. cond~na~s, ~nd ~o~nw~t~ of .•td a~~+•«r ••oa ~nd M~~ ma~9~9~. w~~Mr. a~ no~ d~tr ~fa~d. cw^O~~~d
wiM ~nd abidd py. tM ~pprh~N ~wn nNe~donid in u~d pronwuory noN ~MII E~cony dw ~nd p~y~~l~ fwthw~eh or MNealtw ~M opnon ol ti» Mor~p~p».
~s fvllr ~nd coawl~nN a i/ s1i! ~yr~y?q ~unt of Toiwy wu aip~rylly ~~~pul~~~d a b~ w~d on zuch d~~. anyMi~p ~n ~~id pawiuory na~ a Mni~ a ~M
conlr~ry notwith~l~ndinq. • .
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0. To d~livN ro s~id MortpayN. on a Mlo~~ N4rch ISM ol NcA y~N. ua ne~ipts .,,~d..,c;,,q e~. ar,~.~r of all tawf~hy in~pe~~d ~up (a tM p~~e~0~nq
ul~ndai Yw. ro d~liva q s~id Morrq~~. ~ec~;pr~ widenc~~q fM parment of •11 li~na fw public iwprovan~nt~ w~Miw n~nHy (90) d~Yf a(H~ eM u~ aM11 b~can~
du~ and p~Y~eb. ~nd b pay w di~cAup~ within n1nHy (90) d~y~ ~ftM dw d~~~. ~ny ~nd NI povNne.wnt~l lev~~s ~M~ may b~ nwd~ on ~M matp~y~d propaty.
ort Mis mw?p~p~ o~ eaN. w in ~ny othN w~Y r~wlnnp fewn rM Mw~p~y~ ind~qdne~s ~~c~r~d py d+i~ rnortpap~: ~nd i1 thi~ cond~~~on b~ na coinpl~~d w~d~ ~nd per-
fw~d, uid ~na~p~pN ~rrY WY ~~A suen a swws wAicA sh~ll Seca+w pan o/ ~A~ d~s~ s~cwed bp Mis ~or~9aq~. ~nd sl.~lt bear ineNM~ a?M r~n of sia pN c~nf.
(6X) Ow ~~wA. wv~b~~ unu-uvwNly unril p~id a~~id Mor~~qN ~Y ~I~c~ M» a~7d more~y~ deW tMn~va+ Mco~ dw N~d wr~bb 1orMwitA.
9. It is ive~hr co+eMnr~d ~od ~9re.d br u~d pa.ri~. ~ha~ ~n ~h~ ~vent of a~ui~ a~nq ~n~uwred w}O/KIp{~ rA7~ ~~q~p~. ~M Mo.+wwe Jull p~ entitt~d
appM N any H~ p~nd:nq avcl~ /a~~cb~~x~ wit w Mr court Mvinp i~r~~dictan tAerw/ fa ~1» ~ppan~~.~m o/ • ~~celve? of all ~nd s~nq~la H» mon9aped wopMty.
~nd o/ all IM ~~nM. i~corn~t. pof~e~. i»~ ~nd ~~v~nuet fAe~wf. lran wM~wtver ~owc~ deriv~d: ~nd IM~r.ipon i1 is A~~eby ~,ptuly covtn~msd and ~pr~ed
~M~ tM cow~ J+all faMw~M ~ppoin~ • nc~twr of uid n.w~y~yed powr~y. •11 ~nd unqul~., ~nd ol auch nntf. ~ncww~~. wof~ra. :auy end rwenw tAwwf, f~an
wManwwr sowt~ dNived. wi~h eM ww1 pow~n ~nd dvtip of rec~iven in I~k~ c~us: a~d svcA ~ppo mm~m ~h~ll b~ m~d~ by urch «w~l a~ • matr~r ol a~r~ct ripAt
ro eM MonpaqN. in ~ucceswn. •I~y~l rpns~nuuvN a ~ss~yns. ~++d wirhovt r~(Nenc~ ~o tIw ~dearacr or in~dp~iacy of Nw wlw o/ ~M w~~Y M+eby mwt9ay~d,
a a ~M wlv~ncy w~nso~vency of Nw Mortq~pw. u~d tM~ such rero. aotih. incom~. is~ws +~+d r~vvwe~ ~MII b~ •pp~c.d by such r~c~~wr to Nw' wv/*a+~ of tM
ewr~p+p~ ind~bt~s~. eosb and eMrq~, ~eead~eq ro IM adu of ~ueA eowt.
10. II ~ convty~nn al~ould a mad~ by tM lNortpa9or of tM p~mi~ Aa~in deac.~bed. a a~y parl eMrw1, wc~hpn th~ wrin~n cawn~ o( rM Mor~p~pN. a~d
w~tAou~ ~?swnpt~on ie rpular /ora of I~w sy ~M qrr+tH oF tM obl:yNiow a M• Mor~qpe~ aeat~d bp ~aid paniasory nor~ ~nd Mis rnor~p+q~. tMn, and in ~Mt
•wnr. u~d N tM op~ion of tM Mwtpp~~. ~nd w~Moul not:c~. dl ~una of mon~y stcwed I+ereby sAatl inwMdi~Ny ~nd contwr~ntly witA such conveyanc~ Mcan~
d~ ~nd WY~bM ~nd ie d~f~vh.
11. TAa1 in tM event tA~ prNni~~a AMtby mw~p~y~d. a~ny p~r~ tMrwf, sAall E~ condernned u~d t~k~n fw puDlic uN unda ~M po~w~r of «n:nMt dan~in,
Nr Mwtp~qN sMll !yw N» rpAt ro d~nd tMt ell d~inaqn ~w~rded iw tM uk~nq ol « d.~na9., a s«d pr«~~u. ~I+.11 b. w~d ro~he Mony.y.. up ~o N» .~na,n~
N~n u~p+id on mia nany~q~ and ~t Nw op~ian o! tt» Mor~p~ye~ e~r b~ ~ppli~d uva+~ ~A~ p~yma+b la~ p~yabb ~Mnon.
12. 7M nwrtp~pw b~nds hi~nself nw ro~rM a p~rmit ro M e~~c»d ~ny n~w ~v~ld~nqs on tM pwnise~ Mr~i~ mwty~q~d a ro~dd ~o w pennit to b~ ~dded
~o ~ny o} tM ~aiu~np ienprow~n~NS tMr~on a mak~ ~ny cA~nqe~ o? d~e~tl~oni in uid imp.ovem~nh wh~cA mHUiallp cMnp~ tM wn~ or ~M ua~ tMreof. w~Mout
1h~ vrritl~n cons~nt of tM Mortp~qN. and in tM ev~nt of ~nv wd~tion-a ~n~~np~ to v~otat~ thi~ ittpul~tion th:~ mo~ty~q~ ~nd atl awn~ secwed Mr~bp s1u11 im-
nrdi~tely b~cwn~ dw ~nd co1l~n~bN !M ePtion o( ~M Mortq~pN-
1~. If i~ ~p~citic~lty a~rtd tha~ t~m~ i~ o( tM easN+c~ of Mis con~r~c~ u~d ~hat no wsiver of ~ny oDtiq~rion M~weder u o! tM obl~p~t:on ucu.cd I,e.cbr ihall st any
tim~ b~ lKld to E~ a waiver of fh~ Nnru herwf w of tM imtrumtM secw~d I+er~by.
14. If fw~claswe pocNd~nqs of .nr s.cond n+onQa9. a s~cond t.vst dNd or any ~v.~;a I~ee~ oi anr kind should b~ ~ns~~wted. ~h~ Morrp~see m~y. ~+s op~~on.
im~di»~ly or 1h~re~fter dectu~ tA.s mut9ay~ and tM ~ndebt~diwp aecwed Mnby dw ~nd pay~Dl~ fathwirh, ~nd maY ~t it~ op~.on P'oceed ~o faectos~ fh~s
nwnpay~.
1S. To tM ~s4nt of tM indtbtedn~u of tM Mor~9a9w fo ~h~ Morty~qe~ de~cr~bed here~n a secwed hereby Mw Mp~yape~ is hereby su5ro9ated b the I~en w
liaw ~nd to /M ~ipAb of tM ownNS and hotden tAereof of e~ch ~nd ~verY rnor~g~ye liee~ a otMr incwn~r~nc~ on th~ Isnd d~xrib~d Aerein which a~d .nd/w
satis(i~d in whob or in put o~t o1 th~ ppcceds af fM loan deacr;b~d herein a aecured Mreby, and tM resptcfiw liens of said mutyaqes, I~ens a oMer ~ncv~nbances
aMll b~ u~d tM_ a~rr.~ and Nch oi than Aerebr is prnerved and sAall p~ss w?nd M held by Me lYbrtp~ye~ hK~in ~s ucwiry foe ?M inde~~~dness ~o tM Ma~q~qee
Aa~in describ~d w h~reby secured, ~o tM ssn» e~rent ~Aat it would h~v~ been preserr~d snd wou~d haw been w.s•i ~o •nd been held Ey M~ Monp~9ee had i~ been
duh +nd rt9ularh +asip~l, hw~sfMr~d. sN over and deliver~d unto tM Mwtq~qee bY sspu~~e deed of ~asiqnm~m notw~thst~ndieq tM f~n that ~M s~m~ maY be
saeisf~~ ~nd u+~c~lted of ncord, it be~nq tAe :n~ent~on of H» parhq hr.ero ~Ast ~he um~ w~ll b~ s~~~afied ar~d c~ncelled of recpd by ~he holders tht~eof ~f w ~bo~t
tM timt of 1M recwdin9 01 th~s monyaq~.
16• To pay •11 and vr.qular rhe coste, charges and e.penses. ~nct~d~ng Iswrer~~ fcea, reaso~ably ~nc~~rred or D+~d a~ any nme by ~F.e Marqagee. beuvu o1 ~he
la:I~.e of ~h~ Mw~qagor to pcrfpm, cw~+p~r w~t~ and ~b~de by ex~ ~~d eve.y the fbo.,b~:ona, agnemems, (oodt~ons, and coven~roi of sa~d Drom.~so.v rote ar+d d+~s
oeed o. en1,e~. ~nd e~ery suc~ p~YmMti shall bear ~me.esr from date •r the raft p.o~~ded m s~~d prom~ssory no~e
17. Wl+~n ~ny amaint of mwry 1o E~ p~id by Ny Mortp~qw ro tM lNort9aqe~ ~nde~ tM t~nna h~r~d sMtl b~ in d~i~ult, w should tM Ntor~q~pw dtis~l~ ~n
any of fhe other terins, povis~om a conditiaq o( ~his Mwtysy~, tMn ~nd in ~hs~ u~ the Mor~g~ye~ shall Mw tM ripAt, withouf noGc~ to tiu Morfysqw, ~o
coliect ~nd ~eceiw frwn ~ny ten~~t or ksae~ of s~id mortq~qed pan~se~ tM reny, iawes and pof~ts of ~M rMl est~t~ he~~by mw~q~yed u~d tM ~mprover~enfs
M~reoe+, and ro qive waW~ ~eceipls u~d xQuinanc~s tlKrofor, a~d ~fler p~y~ny all comm~as~ons of any r~n41 ~qent cofltctiny tM ume. ~nd any reasonabte attwney's
fees snd orlw ~cqaary •ap~ns~y inc~ned in collectinq same. ?o ~ppN th~ woceeds o~ ~uch colttct~an upon ~nY indebt~dness. obl~q~t~on or I~~bili~y. of ~M
Mwt9~yor harevndtr. TM ~ipAt qranted ~FK Mwtype~ u~de~ thia par~qr~ph shall be in add~~~o~ to, and shall no~ limit w rKtrict, ~ny otF~ nyAt or ripl~rs yram~d
~M AM~tqaye~ in this Mortp~qt.
18. If ~he Ahwty~yws ~t tAe ~i.r» of inekinq this N1wty~ye w svbs~W~nt thersto fak~ ow Ide inswsoc~ desiynarfn9 tM Mortq~pe~ herein as ~IKINy wl~A •
i ~QmO+~Y ~PWOKd D1r 1!w Mlortqa~ a~siipns pol~ci~a w tM Mwty~qe~ for th~ pwpos~ o: secwin9 tM mutpapt lo~n hereby secwed, th~n tM Morty~q~e ahall
~ Aave the riphf M pay an~ premiwn ~ccrvinq .mdp H1d pOlKlq. ~nd all sums w e:pended sMll be idded b and btcan~ • p~?1 oI ~M pincip~l indebtednesf secwed
4y this Mortp~p~ ~nd fhall b~ p~id by tA~ Morty~9or to tM Mwlqaqee in twelw eqwl co~sec~tive rnonthly insq~ImMVS. /M 1irs1 monMly inst~~lment fo b~ paid ~f a
put of end in ~dd~tion to tA~ monthly p~YmtM dw ~nder tAis Mwtg~qe in the first c~lcndar month followirq t!w eapendinq of said sum. S~ch ~u~na so ~¦pended
to Eea. ~nt~rcit ~t N+e ra~e ~f which imerest ia" payabb ~pon s~id principal indt~tedness and ~M I~en of M~s Nlortp~y~ shall eater~d to and secure the swns so e:pe~ded
~ together witA inlsr~a~ ihereon ~a Aere~nbe(u~ prorided.
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~ 19. Thaf foyeHKr ~ritb and ie odditaw b th~ ~owrhlY P~Y~seM of rinci
fi p pol ond intaest papable YAdl/ the Mr~s oF N~e note secvred herebr, MoriSyogor
~ shdl pay b Atortpop~e eoch wonth u~ti soid note is (ullr poid, ontfwdith (1 /12) of o suw eqvol M the onnud pr~wiuw dus for fi~~, estended covero9e,
~ and oMe~ ha:ard inw~onc~ coveriny 11w. wortgoyed Prope~/y, plus toics ond ossess+~eeh neit dw ow tlr wortyop~d prop~rlp (dl os estiswted bp Mortgogee)
; I~a oll wws olrtody poid I~refor, ond Jo b~ di~ided bp tlr nvwbcr of wontly 1o elops~ prior to tht dote wl~~w wcM toaes ond assessa~enh shdl become
~ ddinqwnt. Soid su~s slwN b~ held bp Mortya~ee iw trust u aedited to Me priwcipol of tUe loaw, ro pap said inwronu. 1a:es, ond osseuwenh ond sholl
~ bs ied o~ the went tMreof wMn dw. M e:c~ss held in fnrst
~ aPP~ P~' 1 61 ~~npopee .rhen wid loon is poid iw idl sboll be poid ro Mortyopo~. or bis
~ aui9es, w penond rtpresenbtires_ In tbe event of o default w fwedosure, soid str~s 6eld in -trvsl wor be appli~d ow owp wsls o4 dowwpes sustoined in
connection ~ith the cdlMiow o# N~t note sec~.ed he.ebr ~Aelber bp suit. (oredosYre, w otherwrise. Mortpope~ ~wp (ro~ tiM ro ti~we ot iri option ~ra~~e.
~ and afMr onr sYCh woirer, ~einslol~ anr or dl prorisioas bereof requirinp wcb deposih. bp aotit~ lo Mwt~w iu ~riti~p. While anr svch w~ai~er is in
effect. Nbr/paypr sholl pop t~es, ossessw~enb ond inw~ance preiwiuen as berein dxrrhere prorided.
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~ IN WITNES3 ~MHEREOF, eM aaid AAwtp~yw Mr~vnro s~t~ Ah Ar+d ~nd s~~l Mis th~ d~y ~rd ~wr fint ~bow writNn:
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S'y~,Hl~ a~ deG~re.~d . . SEAI)
~ w»~:`o+: J n W. Marino
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~ . . ~ ~ ~~`~'7'll- _-~(i i- fi (SFAI)
~ ~ ~ ~ Diana Marino
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Ky. . ,
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r=,~: o w ~ ~ ~'~~2~.9 ~~~f24~8
eoo~~~ PAGE 399
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