HomeMy WebLinkAbout0242 2ie~s n~~d enc„a~l,rances ali.~t ~:~cwcr, exc~•ptii~~ only the 1 ien of ~enerll taxes aot due
and payablc; ~nd that Mort~;.1E;~Y docs w.lrrant, aii~l wlll. defind tl?c said prcn~isc~;
With the privilcEcs aad appurtenances tt~erei~~to belonginF to rlortFagee, its suczes-
sors and assibrts, forever, arainst ull lawful claims at~d demands whatsocver.
PROVIDED, ALt.~AYS, that if che MortEaFor shall pay unto the Mortgagee the indebtedness
to Mortga~ee in the principat sum oE __Three Million and No/100fhs------
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Dolla~s , , ) as evidenced by that certsin Prenissory \ote of
even date hecee~ittt, executeJ by r:ort~a~or .~nd psylble to tf~e order of .~ortgsgee, with
interest and upon the terms as pYOVided thcreia, which hote provides that all install-
me~ts of princip:?1 and interest are payable at the office of payee, 743 North Water
Street, Milwaukce, Wisconsin 53201, or at such other place as the holder may designate
in vriting, to~ethcr With any i~ote or i~otes here~fter executed by the Mortgagor herein '
by and in accordance with paragraph tventy-one of this mortgage, together with interest
as therein stated, and that each maker and endorser agrees to pay all costs of collec-
tio~~ including a reasonablc attorncy's fce, upon detault in the pa}ment of said I~•ote,
and that if default be m~de in the paymcnt of any installment thereundcr and that ff
such default is not made g~od in accordance with the terms of said ;~ote, that the en[ire
principal sum and accrued interest sttall become due and payable without notice at [he
option of the holder thereof. And shall duly,.promptly, and fully perform, discharge,
execute, effect, complete and comply vith and abide by each and every the stipulations,
agree~ents, conditons, and coveriants of said Promissory Note and this Moctga~e, then
this Mort~age.and the estatc hereby created shall cease and be nuZl and void.
AND, Ir'ARTGACOR IiERE3Y COVE:yRSiS ~1:'D AGQEES ~?He~IT: ~
_ 1: Mortgagor Will pay the principal of and interest on the fr.debtedness evidenced ,
by the said note, at the times and in the nanr.eY therein provided. ?
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2. Hortgagor crill pay all [axes, assess~:ents, and other similar charges Ievied up-
oa the said pr~~ises before the sa-ae becac:es delir.qLent, and will pro-sptly de- • '
11ver to 2•:ort~adee receiots or the proper off:cers, tt~.erefor. In default -
. thereof, ;:o:t;asee may pay such_ta:{es, assess^ents, and other si~ilar char`es, ~ _
including an; penalties ~r interest thereon {of which payr.ea[, a.~:ount ar.d vali- ;
dity thereor, t:~e :eceipt oL the p:oaer ofzicer snall be concZusive evidence)
' and any a~o;;:.t so pa:d by ::ortgagee shall bece~.e i~ediately due and payable by f
Hortgagor Wit:~ in[erest at the rate specified in the note secured by this rcort- r
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3. In order to ~ore fully pratact the security of this mortgage and uoon request
. . by Mortgagee, :Iortgzoor •.riZ2 pay [o :lort~a~ne monthly, in addiCion to each
monthly pay;.~nt req~ired 'nereuncer, cr un~'er the ev~dence of the debt secured
t; hereby, a su..^? equi~alznt to one-[welith (1/12tn) o~ t::e a.^•.ocnt estirated by
Mbrtgagee to be suizic±ent to enable :ior~gage~ to pay at least thirty (30) days
before [hey beca:.e dce all taKes, assess~e~ts, and other s~~ilar caar3es levied
against the sai3 pr~r~ises, and all ir.sLr~:.ce pre:~iu..-~s on any policy or policies
~~of insurance required hereuncer. ~io interest shall be payable in respect
_ thereof. L'pcn de~ar,d 'oy ;tortg~5ee, !~;ortg~gor •aill deliv2r ar,d pay over to
~ •MorLgagee su~n acditior.al s~:.~s as are necessary to e~ake np any defictency ia ;
Lhe a:aouat necessary to enable :foztzaoee to fully pay aa~ of the i[e~:s herein- ~
above c~ention~~. In tne eLent of a:~y def~Llt by ;?ortga;or in the periaz:.iance ~
. Of any of LsE ter-is, cove:~~r.ts, or conditio~s hereia contair.ed, ar in t:~e evi- ~
~ dence of the deot secured h~:reby, :•:o-t~a~ee ~^.a~ a?ply agair.st t~:e ir.3ebtedr.ess
~ecured hereby, in sc~h a r..aar.er as :fort~aQee r.ay detet~~r.e, any iunds of i~:ort-
gagor'thea ~e:d by : ortLagee undcr this paragrap:~. _
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4. In the event of the passa;e, after ct~,e date of this mortgage, of any statute or
ordinance de3uctiz,; frc~ ~he value of real property io: purposes or taxacion,
aay licn tt:ereor., or cnan~in ; in any Way [he la:~s naw in force for the tax~tioz .
.O£ mortga~es or ~'e5ts s~cured ttiereby, for state or local. purQoses, or th~ wan- •
" per of t:~e collectica oi any such ta::es, so as to af:ect C!t:s cortga;e or ~'~e
intcrest of :iort~z~ee hcreunder, t5e whole ot the Qrtrci~~~ su:~ secur~d by this '
marCEaoe, c:ith inte~est and chz:~~s, if a:~y, t::ereor., at tha optlon of :iortga-
gee, stiall beccc::e L:.:•~diately due, payacle and collectiole wi~hout r.o[ice or
dc~ar.d.
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