HomeMy WebLinkAbout0557 ; ~ . . '
~ .
. • ~ .
, .
' 17
~ Scction 2.41 from tl~o duo datQ of any snch payment of principol , ~
until tl~o sumc is p~id.
- Tliird : To tlie P:?yment of nns other sums reqnired to be Paicl ~
by tlie Diort~agor pursuant to any Procision of t,liis Ilfortgabc or
' of tho Noto. .
~ Fourth: To thc p~yment of tl~c snrplns, if ~ny, to whosoever
may be l~wfullp entitled to receive the ~ume.
(e) Jpon ~ny sale madc under or by virtne of this Articlc II,
whether maclc under the poncr of sale hcrcin branted or nnder or by
virtua of j~idicial proceeclin~s or of ~ judgment or de~ree of fore- .
~ elosare and sale, tLe :Ilort~~~ce may bid for and acquire the _liort~a~cd
_ Property or any part thcrcof and in licu of paying c~ish therefor mav
! mtib.e settlcnicnt for tlie purch~se price by crediting uPon the indebted-
; ness of tlie ?,ioribaaor secured bs tl~is Diort~l~e tlic net sales price
; after deducting t~.:crefr~in the cspenses of tl~e sale and the costs o~ ihc
9 8etion r~nc~ F.n; ath~r sums ~hicia the ~llortbagce is autliorized to deduct
i nnder this :`•Iorts~ge.
; .
~ .
; SEC•riox 2.03. (a) In case an Ecent of Defanlt descriUed in clause
g ~ (a) of Section 2.01 shall harc L•appened and 'ue contjr.uin~, then, upon
n-ritten dcluar:d of thc 1lort~u~ee, tlie \fortaa~or r: ill pap to the
~
~ 11Lort~age~ fhe ~tihole amoi~nt «hich t~cu sLall I~a~e become due and
~ payable on tho \ote, for p:is, ipal or ini~rest or both, as tLe case m~s
~ be~ and after tLe happei2i~a of said F~ ent of Defaul€ titi-iIl also pap fo
~ -
~ the 11LortUa~ce interes~ at th~ Incoluntars Iiatc on the t~en unp^id -
~ principal uf tLje \ote, and ~e sums required to be paid Ly the ~Iort-
~ gngor purs~rs~~ io sn~ p~u.~s~on o£ ic:s :~iortgage, ~ nd in adui~ion .
~ thereto sucs furtser amount as shall be su ~cient fo cover the costs
n ~.t ,t-..,. i, . .
~ ajyµ ~pt1l.IIJvJ V+ ~rVl1VVYaVN' ~~~v V~+~V' ii:::SOI:a+JII~ ~rV~11,J~.~1rUtlV11 LV LLU
1liortsa~ee, i~s :~oents, and cai:nsel and ~~is ezpenscs incurred by t1;e
~ _ I~iortgagee hercundcr. In the event the ~fortoagor sl~all fail fortli~^ith =
to pay sLCh a~onnts upou such demar.d, tLe :llortcabee shall be en- ~
titled and erupo~cered to i~siitute such kction or proc~edinos at luc~ or
in eqnitr as may be adcised by its counsel for the collection of the -
sums so due ~:id unpaid, and may prosecute an, sucl~ acfion or pro-
;
s ceedinds to juda~ent or f;~:al dccree, and may enfores ~ny snch j~uo- .
_z
-
~ 224 FACE 556
- . - . . - - - - - . . . - .
y.3
~ ~ S -
~ ~