HomeMy WebLinkAbout0150 7. 11 M~y Of IM twM 01 ~OMY F~M~i~ ~~ikt~d b b~ M1 OrosPlly ~nd /vlly p~iA w~IMw Mu~tY (.7q1 a~Y~ n~i~ ~•rw sMw .
w il Nch ~nd ~wry ~M ~tip.rb~~om. ~q»nwnt~. cond~t~on~, ~nd co~n~nb of ~~id Mom~~swv noN ~~d ~Ais ~w.~wa. w aNw. ~n na duh w?fwnwd caroi~ed ~
witA ~nd ~bid~d OY. ~M ~Y9~~WN ~ww ~n~ion~d in s~id w~aaY noN ~MII Mcan~ dw ~nd W~~•QI~~ Ia~Aw~d~ a Mawlt« Hw oW~on ol tM Mw~p~pN.
a Ivll~r «+d cawMN1Y a if Hid ~yp~~W~~ ~wn ot rt~omY wu aiy~n~llq pidlu~8 a b~ ~iY on iKk +~+Ir. ~nvth~nO in ~~:d P~onduwY na~ a Mnin ro N»
tOOMNy IqlWd~ylM1~i11p. ~ f _ ~ ! ~ ~ •
to ddiv~r a Nid MortaqM. w~ a l+tw~ N?vcA 15M ol wcA yar. u~ rec~ipN ~vid~nuny ~M wr~~ ~~11 I~wlully in~pos~d u.w la ~M a~c~d~~Y
uMndw Y~++. b d~liv~r M Nitl Ma~q~q~. ~~ipM ~vida~tinq tM WYwwM o! ~11 IiMS ta pvblic in~pov~n»n4 w~~Ain n~M~Y daY~ a1N+ Nw s~nN ~MII b~co~
dw w~d WY~. ~nd b WY er di~cMry~ wiMie ~~Mhf (V0) d~Y~ ~fNr dw d~N. ~nY a~d all powr~vn~nul Iwi~~ Nw~ nyy b~ mad~ on ~M mato~y~d p~oW~M.
on dws mwtW9~ a eoM. w ie ~ny WMe ww rtiul~iny fraw eM Abr~p~q~ ind~bbdneu s~cw~d bY d+is ~o.~aa: ~nd i( ~hi~ condition b nW coniOli~d wiM ~nd pa•
fwm~d. ~aid ~wo.iy~p~ w~aY Pw wd~ auw a aw~a whicA ~MII Mcan~ o~ ol M~ d~W Ncw~d ~r ~is ~natq~q~. ~nd ~Mtl Oea inm«~ N N» r~» ol ~ta pa eau-
l~%) vM w~w~. araeM awa•ww•~1y unlil p~W a s~id Mat9~9N may ~bct M~/ Nid mor~9W~ d~W H~aM+vw~ b~caM dw ~nd WYSbta twMwitA.
9. It ii furtM? ce.+wwu~d +nd +9~«d bY ss~d w~~~ ~n tM waa of • svit b~tn0 insuwHd to i«~clw~ th~s ~+w~9W~. ~M MaW+pM ~+11 b~ ~n~itNd a
pply ~t aenr tiwr P~~O wcA far~cloaw~ wi~ a Nr court Mvi~p Iwi~ion M~reof fw tM ~ppoi~~~t of • r~ceiwr ef all and ~i~yul~r tM nan9+0~ P~~ti.
~nd oi dl 1M nnH. incon~s. pofi». iNUei N~d ~w~nwt /Mr~d. frow~ wMfwwer ~axc• daiwd; ~nd Ma~uoon it is Mr~by •ap~sfM ooven~n~~d ~nd KrMd
dyt ~M coun aMll fo~Awid? ~ppoiru •~~vM of wid mo.~p~ad Prope.rY. +11 ~nd sinqu4r. and ol such nna. ~ecowwa P?ofib. iuua snd ~w~nw eMno1, t~aw
wM~vw w~wp dniwd. wi~A /M utwl Po+~i ~nd dwia of r~niwn in lik~ e~w+: «+d aveh ~ppo~nl~wm ~11 b~ ~d~ eq sueh eowt a• m~teN of ~xid riqAt
q dr MataqN. iM suaw~a~, ~ rpru~M~Mhs a ~»tqiu, ~nd wiMow ~~faN+n w Nw ~d~wiacr or in+d~wKY oi Nw v~M» 01 Nw w~~Y Aa~bv ~w~9+9~.
a w~M adwncv or inwlv~ntY of tM Mo?~WOo?. ~nd th~f ~uch nM. wo/ib, iaco~n+. iuws wd rtv«w+w ~Mtl b~ ~DP~Nd bll sucA .«•~wr ~o M. wrT•n~ of IM
aiortp~ 1nd~bNdn~u, ca~b ~nd cMr9a. aco?dinY a fM adK of wd~ cowt.
10. 1/ ~ eonwyane~ aAould b~ nweM M~~~W9a of tM On~~ Mrwn dese?ibd a~ny P+~ wiflaw ~M wnitNri eonwnf of N» Nbrty~q». ~nd
wiM~a~l +ssumP~iow in rpu1M Iora d 4w b1l ~ qnnN~ o( tM oblipNion w ~h• Mwtpap» a~~hd M s~id o~~s~aY noN ~nd N~i~ narW+9~. Mwn. ~nd in Maf
~v~nt. ~nd ~f d» aWan of ~M Maty~y». a~d wiN~aA nefic~. ~11 ~wws ol e+orwY ~~cw~d Mr~bY sAall iww~dip~lY «+d ca+cwr«+Ny rri~A ~uch conv~y~nc~ Mca~
dw «~d ar•a. .~e tn a.r.~h.
11. 7l+N in 1M went dr D~~isa Mr~by narty~q~d. o~ ~nY P+N ~Mrwl. ~A~II b~ condrmMd a~d t~k~n Ior ouW:c uN unda Nr iwwa ol ~ni+Mm dow»in,
~M Mpp~pN ~hall Mw tM riyht w d~wynd tM~ ~M d~~+y~+ ~wpded for tM Hkinp of or d.m.y.. a sa~d w«.wsa J++11 b~ paid w~Iw Mo?to.y.. w a M. •mo~m
th~n wp~id on ~his a~w1W0~ ~nd q ~M aption o/ Nr Mat9+9N nrY ~~oO~i~d uDw~ M~ wY~nb lu1 p~y~bh Mw~on.
1?. 1M w~orfy~Ye? b~nd~ NwneN na ~o u~e1 « v«init w E~ ~.~cNd ~nr n~w buHdeqs an t!» v~~isa Mr~in ~nay~q~d w w ~dd to a v~*m~t a M~dded
?o ~nY ef tM ~:ut:np bnp?owin~nb ~Mnon or e+at~ aMr cM~Y~ or ~N~ruions in s~id impoven~nb whicA ~N~i~lly cMnp~ tM s~ ar ~M us~ Mweof. withwr -
1M writ~n eonwy pf tM MwtypN. and ie Ih~ ~vent of sery vio4tan a anNnW ro violah dwa stipulqion tAi~ w~o~tp~p~ and ~II swro s~cur~d h~~b~r Jwll im-
~d'isesy Meanw du~ ~nd col4enbN ~t Nr aWion oi IM 11Awtq~o»-
1~. 1t is ~p~cii~ully ~yrwd N+at f~m~ b of ~M ~+s~nc~ of th~~ contr~ct ~nd tMt no waiver of w+y ob:iq~tion Mr~r a of tM oAlip~~ian ~cw~d M~eby ah+ll at ~nY
1i~w b~ Mld to E~ ~ w~iver oi tM wea Mnof w of dw i~yau~nt sacwed M~~by.
14. If for~cbsun pocNdnps of ~ny s~cond e+onp+v~ w s~cond trvat d~~d or ~ny jon:or li~n o~ +ny kind ~houW b~ i+u~itund. tfw JNortp~ne ~naY. in oWion,
inrMdi~aly or tlwwfter d~cta~ ~his mwtp~p~ ~nd tM ind~W~diws sscwed Mr~bY dw w~d wY+~ faMwitA, and m~y st ia eD~ion P~ocaed w i«ecba~ ~hcs
uwrtY~N-
IS. To tM ~¦ynt of tM ind~b~~s~ of tM AbnW9w w Ny Mwt9+pe~ desu~b~d heran a secund M?~bY iM Nbrtp~pe~ is he~ebv s~broyH~d to ~M lien or
li~m and to 1M riyhb of Mr own~n and holdNS N~eraof of ~xA snd wwY mo?~~y~ leen or aMr incw~ra+c~ on ~M tr+d dauibd lw~e~n whicA i~ Wid snd/a
s~tisti~d in wlwb or in p~rt o~x of eM p~oce~d~ of ~M twn dncribed hcr~in a secured hweby, s~+d the reap~criv~ I~an of srid monp+ye~. Ic~ns a aher incu~ancea
ah~ll b~ and tM.wr.~ ~d wd~ of NNm AwcbY is P~eserved +nd sMll pua to •nd b~ IuW M th~ Mor~p~~ haun u atcwity }w tM indebud~n~ss to tM MortW9w
Mnin descriad a he+~by s~cwed, w th~ u~ eaten~ eh~f it wwW Mve been peservd and would A~v~ D~en pna~i a~+d been M~d b~r rM Mw~p~yM h+d it been
duly ud rpul~rly uuqn~d, harutv~~d, sN over ~nd d~liver~d uoro ~M Mon9+9M bY s~D+raq d~~d o( sssiq.wn~nt noewiths~u~di~y tM i~cf Mat tM s~ maY b~
a~tisi~ed and c~nnlbd of ncad. i~ bei~q tM in~en~~on ot tM puri~s hereto t~t M~ s~nw w~ll b~ su~~fi~d ~nd c~nnll~d of ncad by 'M hdden fMnof ~t a about
~ ti~M of th~ rKOtdiny O/ this ~nortq~q~.
16. To pav all and s~nqutK ~Ae cosq. charges and e,penses. .nciud~nq I~wyer's (ees. ~usw+abty ~ncurred a pa~d at any ame br ~Ae Mo.rqaqce. because of ~he
b~:we a~ tFe Mor~yagor ~o perfam. ca+ph w~M and ab~de by e~ch and every ehe suu~+lanons. a~eemems. cond~noos. and coven~nts of s~~d po.++~ssay no~e ~nd ~h~s
deed. a e~~l+e~. ~nd eve~y svch parrnents sMll beu ~ntirest (rorn dNt st ri~e ~raie w~~ded ~a~d wwn~s~wy nore.
l7. w~,.n +~r •Tw,m ot ~non.r a a w~a br +h. lY~o.qwo? a~h. Mo.e9.9.. w~d.. d+. +..m. h...of .h.u b. c~ d.~.u1+. o. .hw,w d» µ«ro+vo? d.r,~n
any of the dMr terna, provisioeu a conditioro of Mia Mortg~ye, tMn and in tAst us~ ~he Mw+9+9e~ shall hwr eM riqht, without not~c~ to the Mwtqsyw. ~o
coll~ct and rtceiv~ iraw ~ny N~ant or I~ssM oI s~id morty~p~d panis~s N» ~u~b, iaaues a~d poGn of ~M r~al ~sraa hereby ~wty~q~d and rM ir~owmenq
Yweon, auA p yiv~ papN repiptt ~nd xp~iMan~ tMrefor. and ait~ p~yinp •II canmisa~oeu oi ~ny r~npl ~qaN colkctinq th~ s~~. ~nd sny rtaao~ab~e ntwney'a
fNS ~nd odwr n~ctss+rr ~+p~roes incurred in coll~cfirg s~nw. w~pply tM proceeda of such colkctian ~pon anY indebNdness. obliy+tion or liab:lity. of tM
1Monq~por be~eunda- TM ripAt qqnqd tM Matp~ye~ und~r this par+qr+ph slu ll be in add~+~on ro. aild f~II f101 Iiw11f p fpNlCt. any othK n91u a riphh qrwed
~M Mapa;~ in dus Morip+ye.
la. If tM Morqqws ~t tM tim~ d~nekinp ihis Abrtyp~ u s~bsp~wnl thN~to Uk~ ove Iii~ insw~nt~ desiqnat:rg 1M Nb~tyaye~ her~in u benefitiaryr wid~ •
cweD+r+y ~oo~oved bY Nw Mwty+ya~ a auipeu pol:cies ro iM Mor~g~yN fw th~ w+~vose of secwiny Nw mwfy~q~ loan he?~bY s~cwed. H~an th~ Matp~pe~ d~+ll
luve ~M riph~ w pap arry pa.ni~wn ~ccnriny undw sa:d pol~ciss, ~nd ~II swro so eape~nd~d shall b~ add~d ro snd b~con» s p~n of tM pincip~l indebtedrwss s~cured
E by lhis Nlo.ry.y. and sMI1 b. w~d !ry N,. N~w~y.yw to tM Malp+pee in twe{v~ pwl conucu~ive monthFy inaqll~wnh, th~ i~nt mw~Mly iroullment to b~ Wid a a
~ p~rt uf end in ~dditan to t!N ma+thly paym~e~~ dw undar this Mwtqrp~ in th~ iirs~ ule~du monM fdtowieq th~ ~apaadny of ssid s~xn_ Such suma w tapeeded
to bear :M~rest ~t tM ?~K at which interest it qy~bb upq~ Nid pintipal ind~b~edneu ++d ~M lien of tf+ts 1Norty~y~ ~h+ll ea~end ro and secw~ tM sw~r so capended
t ~og~~her wi~h infarat ~ha~on as ha~u~b~for~ povid~d.
~ 19. Tlwt toyefl~r wilh aad ie addi?'an b Ibe wowHdr-popnent of priwcipd owd iaterest popobl~ vnder tl~ ter~s d 11» noN ~ecvred hereb~. Mo~tgo~or
sbolt poy b Morlpoy~~ eoch wo~N~ reAl so~d iwt~ is fullp puid, owt-h+elftli (1/14) of a sw~ eqYOl Io tl~e oweuol p?e~i~rw doe (or fire. eafended coveroye.
ond oN~er la:ord iawraec~ conerinp 11» wort~oped Propatp. p~~s toaes ond os+Kwab ne:t dw ow Nie ~or~yaY~ P~~~h (dl as e~tiwot«! bp Mortyaqee)
Isss dl su~s ol~~adr poid tlrrdor, awd to b~ d"nided bp tIK nu~be~ of isonMs b elops~ pr'wr ro tLt date Mrbe~ srd~ twi~s ond ossesss~wb ~hdl becose
deliwqwnt. Soid Hrws s1~oN b~ Mld br Mwtpap~~ iw trrst w ueditad b N?e priwcipd d Ke loo~. b pop soid ieswo~u, bara, ond osse+uroets and Jwll
b~ opplied aw 1A~ pop~ent Ib~riof wMw dYt. My ~atess Iwld in bust br Mortyop~s w4e~ soid ban is poid 'a~ fnM sholl b~ poid b/Nwt~opw, o~ bis
ossqws, or p~rwwd rpres~sfofi+~s. Iw tM e~n1 of O dlFOYIf 0/ IMlCIOSYtf. wid w~s 6eld in lrvst ~op be oppli~d ow awr oosls oF dosopea sustoined in
cp~eecfion vrith tM ool4ctiow of the w1e ssnrr~d berebp vM16er bp wit, forecbwr~, a otbenrise. 1Nortyopee ~op ho~ ti~ to tiw~ o~ ih option Mra~e.
a~d afte~ auy s~c? rvinsr, reinstop mqr w dl p~mrisiows bereof requiriny sucb d~posi~s, br wotic~ 10 1~lw~yopw iw ~r~iti~9. MlAile oer such woi~rer is in
~Hect. Mortpapor sMaN pop laaes, osusswenb osd 'ws~ronce p~e~ium as herein ~Isewhe~e pravided.
20. As required by the Federal Disaster Protection Act of 1973, to keep the buildings and all
equipment and personal property norr or hereafter on said premises covered by this mortgage,
insured in a sum at least equal to the unpaid balance hereof, against the peril of FLOOD
damage, and to comp1y in all respects with the provisions of the FEDERAL DISASTER PROTEC-
TION ACT of 1973. All Qrovisions of paragraph 3 above shall also apply to this additional
Federal insurance re u~rement.
IN WIiNESS Wi1ECfOF. tlr s~id Mrwna sMS hb Ar+d ~nd N~) tI11f tM dhr ~nd Y~+r fint ~bw~ writMn.
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