HomeMy WebLinkAbout0800 a. To pMlam, coinply w~~h and ~b~d~ ~Y ~Kh ud ~v~Y ~~~P~I~~wn~. ~9~NmMlf. cond.noro ~nd cowMnb :e ?~~d p~om:nwY ~t~ ~nd dKd sN taM.
•7. I/ ~ny of ~M ~w~u oi mawy M~~~n ~.1.n.d a b. ea aaro~b .nd t~Ih p.~d w~~A:n dwrh~ (~0) d~» n~at ~f~N ~M s~nw ~~wi~lly Mca*y d.,~ ud wY~bt~,
q i1 ~uA ~nd ~vNy eM ~tiqrb?ioru; p.w~wnh. cond~~~au. ~nd covawnn ol ~~id pom~ssory noN ~nd M~s eartqap~. a~iM~. ~r~ na duly pMla~d. caMl~~d
w~rA ~nd ~bid~d bY. ~M ~yqrp~~~ w~n rnM~~on~d ~n ~~~d porn~~sar ~op sMll beco~ dw and wr•b~~ futhw~rh a M+aNlr« a»w ov~~on o! d» More9+9N.
•a ivlly ~nd caMl~hly N if ~~id a9Wey~a ~wn ol mon~y w~i ai9in~lly ~upub~~d ro b~ w~d on ~ucA day. ~nyM~np ~w ~tid pon~iuory nw~ w AN~in W 1M
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S. To d~livr b uid MorfpapN. on w Mta~ IM~rcA 1S~A of ~a{A yw. u¦ nc~iph ~vid~w~ Nw p~YnNnt o/ ~11 I~wfullp iw~poa~d N¦M /a ~M p~c~d~nq
ubnwr Y~u. ro d~livp b uid MweqaqN. nc~~ph widenc:nq ~M Wy~~ o~ •11 fia~s t« p~WK ~mprow~.~nt~ w~?hi~ nln~h (90) d~ys ~hM tlr un~ ~MII b~cowh
dw ~nd o~Y~M. w~d ro wY w discAuq~ witAin nin~hr (90l d~m ~f~ dw d~q. ~ny ~nd ~It povanman~~l twief dw~ .rur b~ nweM on Nw ma~9+9~d p~~Y.
on Mia n+or~qap~ a noN. a in ~ny oH+M w~y ~~wlriny t~an tM Matp~q~ ind~Dt~dn~u ~~cw~d by d+h ~nw~pap~: w+d if tAi~ condit~on b~ r+W compl~ed w~M u+d pa-
fam~d, uid inor~papN ~Y Mv ~~A ~wn a awns wh~cA ahall Mcanr pat of M~ d~bt s~cw~d b~r tF~~~ ma~oap~. and sMll.btw inSNw~ M ~M r~~~ ol ~ia pa c~nt. y
(e%) vw •MwT. wr•b~• ~~m~.~nrwdly vn~il p~id w ~~~d Matq~pN +n~y ~I~ct M~~ ~a~d ina~q~q~ deb~ ~ha~upon b~can~ dw w~d P+r~bt~ 1aMwitA. :
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9_ It is iwihr co+Manud ~nd ~qread by uid paru~s ~Mt ~n ~6~ ~vM~ of ••uit ENnq insutv+~d ~o taeclq~ Mi~ rno.p~y~. tM Mor~p~p» J+dl b~ enntl~d w
apply N~nY t~ny Wnd~np ~ucA 1w~clww• wit a tM court Mvi~q iw~~d:c~~on M~reof /o. tM ~ppan?n+e.,~ ol • nc~ivM o1 ~II ~nd •inqulw fM mwp~p~d p?opary.
and of •II tM nnb. incwn~s. po(it~, iu~+ea ~nd nv~nw~ fM~w1. lran whNw~v~r soun~ dkiv~d: ~nd tMn~pon it is M~~bY •¦ptaM cown~M~d u~d prNd +
tMf fM cowt aA+ll fa~hw~M appoin~ •~~c~ivN of uid ~nortp~peJ pope~ty. ~II a~d unq„t~r, ~nd of ~vch nnh. incan~~. po}iff. iuw~ end r~venw N+K~of, frorw
wM~aow~r wurc~ daived. wi~A M» uswl powas N+d d~rtia d rece~v~n in I~t~ uses: and i~rcA ~ppo•~~~nt ~lyll b~ nud~ Sy a~ch cow~ ~s a m~tt« o! ~hic~ r~9M ;
ro Nw Mor~p~qN, i~s suu~asa~. Ipal npr~s~mativM or ustqn~. a~d wiiAour r~fN~nn to tM ~d~ou+cy a in~dpu~cy e1 N~ v~lw of tM popa~y I+Heby ~nwtq~p~d.
w a tM solwncy w inwM~cy of rM Mony~pw. ~nd eA+~ +vcl+ r~n~, pofib. inco~. iuws and rewr~ws ~MII b~ ~ppli~d by sucA nc~iva a Mw wvnKm of tM
enw~p~p~ Ind~badn~ss, eosb ~nd eAuQu. aaadinq a N» ad~r of ~ueh eow~.
10. N~ conwYw~c~ thoutd b~ ~wad. M N~. Morppa o1 N+. ae~s~. M.«e dex.~bed, o~ ~nv wrt ~Mrwi. w~thow tM wrimn conwm ol eM lMor~oapw. ~nd
witAout usu~np~an. in npulsr iwa of 4w by ~M p~nN~ oF tM oblip~tian b th• Mwtp~qM cr~ated by uid pomi~wry noh ~wd Min mw~p~p~. ~h~n. a+d in M~t
~v~nf. ~nd ~f IM op~ion of ~M Ma~yapN. ~nd withaA notic~. ~tI ~wro oi moe~Y s~evred hereby ~MII imn~Ai~ttly ~nd toncwnnHy wiM ~ucA conwy~nc~ b~conw
du~ ~nd WY~bb and in d~iwlt. '
11. 11+~t in ~M event fM p~+nisy Mreby ~nwtq~q~d. a~ny put M+w~of, ~Aall M condemwd u+d uk~n fw p~Wic u~ w~der Nw powa o/ ~eNnt don»in,
N» ARorp~pN sAall haw th~ ~ipht fo d~nynd tMt ~II d~aqta aw.rd.d f« M. r.t~nq ol o. dan~.9.s ro..~d w«w~s~s J~.11 b. w~d a N~. N~w~p.pw ~p ro N+. +~oun~
fMn unP+id On thia rnwlp~q~ Y~d N IIN cWion o~ th~ 1NOrIp~pN en~Y b~ ~pp6~d uDO~ tFw MYiMnh lasl qy~bb IhMlon. 1
12. TM mwtp~9or binds h7nadf nw to u~cl w pu~it ro E~ e.~cr~d ~ny n~w bu~ld~nys on tM w~~ ~~n ~p~qd a ro ~dd a a pe.~n~t eo b~ added
b ~nr of N» ~¦is~~ny improwm~oa *Mr~on a rnak~ ~rry cMn9n a alprauona in uid irnprovem~nh wh~cA ~a~i~lly cAw~p~ tM sa~*~ a?M vs~ tAweo/, w~M~ou~
t!» writt~n cwn~nt oF th~ Mortpsp». and in 1M ~wnt of ~ny vid~tion or anemp~ ro violat~ ~Ai~ s~7pul~fion th~~ matpp~ ~nd all sums secwed M~~y shall i~n.
~di~tely b~cwm dw ~nd coll~~bl~ ~t N+~ option ot ~A~ AAor~p~pw-
1~. 11 ia ap~cif~cdty ~9rNd tha~ t:~ is oi fl+~ ~ss~.+c~ of Mi~ con~r~c~ and ~hat no wa:ve~ o/ ~nY ob'iqarion Mrw~der « ot ~ht obl~yat~on a~cwed Merebr shall a~ any
tin» b~ Mld w E~ s w~:ver o! th~ »nm hK~of w o/ tM irutrwnent s«w~d l+er~by.
14. 1f fw~cloiw~ w«eed~nyf of ~ny s~cond mw~qay~ w s~cond frvst d~~d or anY i~n~w li~n ol any kind shouW D~ im~7rur~d. tM Ma~9+se~ m~y. a~ ~n opuon,
imnrdia~~ly a tMr~after dec4r~ tAis mwty~p~ and ~M ~nd~bt~dn~ss sec~r~d fw~by dw and Wy~bl~ }wMwitA, ~nd m~y N it~ opt~on proce~d to Iwecloa~ thi~
rnalpap~. -
" 13. To 1h~ eahm of tM ie~d~btedn~aa o! the 1Nortp~qw ro fh~ AAwty~qe~ descr~bed Mr~in a secur~d h~reby rh~ Mw~p+pN ii hercEY subroy~ttd to ~he I~en a
I~~ns ~+d to tM riphn of tM ownas s~+d holda~ fMreof of ~~ch ~nd rvery inwrqaqe I;e.~ or aMr inann6rwrc~ on tM (~nd Mur~b~d Mrei~ wAich is Wid ~nd/w
utiafi~d in vrAob a in p~rt wt of tM prueeds of tM Iwn described Aer~in a a~cwed MrebY. +~+d thf ~espac~iw I:e~s of said ma~yayes. liens or other ~ncu~nbrancea
aMll b~ and /M. wir.~ ~nd Nch of tMen hereby is peserved and sMll p~ss a~nd b~ MW by Nr Ntwfq~qe~ Mr~in n a~cwity for tM indeW~ss to tM MortyaqN
Aa~~in deacrib~d w hereby secur~d, ro tA~ s+m~ e,nnt that it wo~ld Mv~ b~en pr~urwd and wout6 hare been pasud b ~nd Aeen Mld by ~M Mort~e Md it been
dvly u~d rpularN assiyned, trunfar~d, stt over and delivered umo the Mortgaq~e by sep~r~t~ de~d o( ~u~y~+m~nt notwitMand~rp tM fact tM~ tM s~ may be
s~tisl~~d +nd c~nc~~leA o( r~cdd, it be~rg tAe ~ntention oF fM part~es hcr~to ~Aat the ume w~~l be snisfied and cancetled o} recad Dy ~I+e Ao~ders Mtreof ~t a sDo~t
N+~ tien~ of tht ncadin9 oi th~s morty+ye.
16. To pay •II and s,nqul~r rF~ cos~s, ch.rges and e.pensas. ~ntl~d~ng la.wye~'s lces. ~usonabty ~oc~.red p pa~d at any e~me by rhe Morrqsqee bec+use o( ehe
ta,twe of fhe Ma~qaqo. ro perform. comply w~fh and ab~de by exh and every tht s~~p~lanons. aqreemen~s, conO,~~ons, and covenanrs of sn0 p+om.ssay no~t s^d ei~~s
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deed. o. e~rher, and e~erY such par~+e~~i ihall bear ~me~es~ lrwn dare a~ ~~e ra+e orw~ded m s~~d pom~sso.y nore
17. WhM any ~ena~+e of monry to M p~id by Nr Mor?p~yor to tM N1wt~pe~ w~der the ~a/ns Mr~oi sMtl b~ in d~iwh, w should t!» Morrp~yor def~~lt in
any of th~ otMr terms, poviaions or conditions of thia Matg~pe, rMn ~nd in fhae us~ rAe Mor~yage~ ahall Mv~ tFw riqht, w~rho~t no~;ce a the Mortg~yw. to
colkct snd rec~iw /rom any teewnt a IessN o1 said mwtp~ped ptenis~s tM r~nb, iuues ~nd wofits of tM rwl es~N~ he~eby inortqaqed ~nd tM ~rr~povemenes
' rherew~, and ~o ~ve pope? ~ac~iph and ~cquin~ncea tFw~1a, u~d ai~a payi~q a~l comn.isa~ons of ~ny rent~l pent cdlectinq th~ u~ne, ~~d any reason~bt~ anuney's
f~ea and oNw neceuary ~ip~ns~a incvrred :n collectinq san~, ro apply tM pocecds o} svcA co~lect~ons ~pon ~nY indebtedness, ob~~y~tion o~ I~~bil~ry. oi the
~~t ~w+der lhis p~rpr+ph sl++ll b~ in add~tion to. ~nd shall not limit a restnct, anY ot!»r riyh~ a nyhh pr~Mtd
Mortq~yw hcreundu, ih~ ripAt qr~nfed tM Mort - ~
rM Mo~tyayN in Mi~ Morty~q~.
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j 18. If ~l+e Morty~pws ~t the ~irr~ of mskin~ this Mwtyp~ a t~bfepu~nt thc~eeo tak~ out lif~ inswanc~ desiqn~tiny th~ A4ortQaqe~ he~ein aa ElIIlIKN~y w~th a
` co/npanY ~pproved by th~ Morly~qN w ~f~iqna policies ro t!» Mptga9te fw Ih~ pwpos~ o[ sK~riny 1M mwrp~q~ lo~n her~by sKwed. tAen Mr MOrlpipee ~/NII
E have the riyht ro paY ~rry pre~niwn accr~irq und~r Hld pOlKip. and all sums so eapended shall b~ added a~nd becorn~ • p~rt of tM principal indebtedv~s saantd
? by Mii Mwtp~~ ~nd sMll b~ paid by tM Nbrtp~yw ro tM Monq~yee in twelw eqwl consecv~ive montl~ly inaullreann. ~M lint monMly iniqll~nent to b~ Wid ss ~
s
° pan of end in sddition ro tM monthty paym~nt dw under this JNort in rM (irst c~lendar month totlewi tM •
~ q~q~ nq apendinq of s~id swn. Such su1ns w eapee~ded
ro bear :n»rpe ~f fM ~~~e N which in+ernf n o.~aw. ~w, s•~e w~oc~w~ indebtedne?s and tM I~m o} thia Morty~p~ ~MII l~tMd b Md fKVIf fM fYID3't0 CtpMdtA
ioqe~Aer w~~A ~nterpt ~h~reon ~s her~u~be(a~ P~~vid~d.
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~ 19. That Nher ~ritA ond in oddifiow b the sow/AI a~ent of ~nci
fop r poY pr pd md interest popuble under N~e ter~s d t6e note secured hcrcbp. Mwtgogo~
i shdl poY ro Mortyo4e~ ~ocM ~ontb ust~ wid note is i.llp poid, owe-twelfth (1 / 12) oF o w~ equol b tIK oeevd pre~i~w dve fu (i+~, e:teeded co~erope.
e ond other Iw:ord inwronc~ w~eriny 11w wo~fyoped Prope~, plvs fa=m and aas~ssw~enh neat dv~ w t4e ~wf9oy~d prop~rry (dl os esti~ated bp IMortyogeel
~ less oll wws olr~odr poid.llKr~lw, oed•b b~ divided br fb~ evn~ber of iwntMs b daps~ prior to t4i ~o1e rMw wcb baes ond osseaswenfs sholl becoiwe
delinqu~nt. Soid w~s shdl b~ Mld bp Mortyop~~ iw bust or credited fo N~e priscipd of tbe ban, fo pop said iw}~uonc~, ta~ees, and ossesswenb and alwll
~ bs opplied oe tl» poy~ent tbereoF wlrn dw- Mr ~uess held in trrst bp Mortpope~ wrh~n soid loo~ is poid i~ fdl sholl be po~d b Mortyopor. or his
assiym, w ptnoeol repr~se~bti+ts. .1n.N~e ~vtM ~f a defoult or foreclosute, spid sY~s 6eld in tnrst wwp be epplied ow a~r cosh d do~o~es sustoined in
connection rith tlw colletliow ol the note secvred herebp ~hetAer bp s~i~, ioreclowr~, w oN~enuise. A6orepope~ woy lro~ ti~we ro tiwe ot ih option waive.
~ and ofhr enr wt6 vroiwr. reinsbtt. ony w all prorisiows her~oF req~iriey s~th deposih. b~r wo/it~ b Mort9opor iw ~ritiwy. Wbib aar such ro:wr is in
effet?, Mo?f9oQor sAoll por taa~t, owasaenh md inavranc~ prewi~~s os Ae.ein elsewbere prorided.
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