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Home My WebLink About0329 ~ 1~ ~ ~ . TOGETHER with all furniture, furnishings and fixtures and any replacements thereof which are now or may hereaftcr be located on the above described property, and all structures and improvements now and hereafter on said land and the fixtures attached thereto. and all rents, issues, proceeds and profits accruing and to accrue from said premises, all of which are included within tlx foregoing description and the habendum hereof : also all gas, steam. electric. water and other heating. cooking, refngerating, lighting. plumbing. ventilating, irrigating, and powec systems, machines, appliances, fixtures and appurte~iances, whuh now are or may hereafter perta~n, to or be used ~vith, in or on said pcemises, even though they be detached or detachable. TO HAVE AND TO HOLD the same, togethcr with the tenements. hereditaments and appurtenances, unto thc Association. in fcc simplc. AND the Mortgagor does hereby covenant with the Association that Mortgagor is indefeasibly seized of said land in fee simplc. that he has full power and lawful right to convey said land in fee simple as aforesaid: that it shall be lawful for the Association at all times peaceably and quietly to enter upon, hold, occupy and enjoy said land: that said land is frce from all incumbrances: that he will make such further assurances to perfect the fee simple titlc to said lands in th. Association as may reasonably be required: and that Mortgagor dces hereby fully warrant the title to said land and will defend thc same against the lawful cla~ms of a1l persons whomscever. I~'O~~' THEREFORE.. thc condition of this mortgage is such that if thc Mortgagor shall well and truly pa.• tinco the t9ortgagee. the indebtedness e~Tidenced b~ t~hat certai~n~ ~ro~m~iss~ory note. bearing even datc herewith. ~IE~E~IE~E~E~~3E~~E~(~1E~E~E~E~~~E~E~E~6~bl~HE~Ee~d mad~a~rt of a true copy of which is hereto attach r~t r,.n~ .r ,M~=,~~ . and shall perform. comply with and abide by ; each and e~•erp stipulation. agreement. condition and covenant tontained and set forth in this mortgage and in the i ~romissor~• note secured hereb~•. thcn this mortgage and the estate hereby created shall cease and be null and ~•oid. ; i :~\D THE ~10RTG~~GOR docs }iereb~• further co~•cnant and agree: _ ~ 4 i. Tu yec ihe pnncipa! and ;nterr,t and other suma oi money payable by virtue ot said promissory nde and lhis morlgaRe. or either. promptl~ S or. tne da>s rr+pecU~~elc thc snme sCt~•raliy Aernme due. i - 2. To ~a>~ all taxes. atisecsments. lea~ies. IiaAltities. obliRations. and incumbnntts ot every nature on said property each and every~ w~hen due and ~ ,>:.b:e att~ordinX tn law. and ~i thc .ame sh:tl not be promptty paid lhe Association may at any lime either be(ore or after delinquenc~• paS t6e ~ame ~..~rhnuc ~~anin, or affretinX thr ~~pt~on tn tnrrc4us.•, or anc riRht hereunder. and every payment so made shall bear interest (rom the date lhereo~ at the ~ ,re• ..t nmr yrc crnt • 9~ Per annum. 2 ~ 3 \lort~n~~,r w~tt Aerp alt reat and prrwnal property~ noK or hereatter encumbered D~~ the lien o( Lhis mortRage insurM as may be required Irom !~me to umr by thr A+snciauon aK3insi loss Ay~ firr. rindstorm and ather ha:3rds. casualties and contingencies tor such periods and tor not less tha~ such .~y am~,ur.t. a, mac br rrquirrd b~~ associauon and lo pa~- promptly when due all Premiums !or such insurance. The amouats for r~hich such insurancr shaU nr •+nnrn maa Gr Kreafer than those required by tAe Assxiation Dut in no event shall tbe same be Iess than the amounts required by lhe Association. It ~Anlt De mcumAent upon the >IortRaqor to mainuin such addilional insunnce as may be necessarY ~o mett aad cumply full~ v~:lh aC co•insunnee re- t q,:rrmrnts contnmed in said policies of Insurance to the end lhat Morigagor ~s not a co-insuror t~ereundu. Insurance s6alt be vcritten by a company or ~~mV~n~es and tArouKh an aqrnc~~ approced bl' the Associalion and all ywlicies and renewals lhereol shall De hetd Dy lhe Associalion. Any selection of in- : ~ ,.:r~nie comyan> or a¢rnc. made bF ~Iortqa¢nr which is accepted by the Associalioa and all agreements belw~een lforlgagor and Associatioa relalinE i ~,~~',x Imurance. now et:nGn¢ or hereaRer made. shall be in w~riting and shall De a part of this morlgage deed as (ully as though set torth ~'erbalim herein ~rd >hall R~~~'ern twlh part~es hrreto and the:r successors and assiqns. ~io lien upon any ot said poliries ot insurance or upon any re(und or return pmmium ~ c «tuh ma~ be payabte un the cancellation or terminalion lhereo(, slull oe 6~~m to olher than the Association, except by proper endorsemeot attised to ~uch po:ie} and approved Dy Associahon. Each policp o( insurance shall haae attixed lhento a Standard New~ York 9fortgaRee Ctause witAout cootribulion, ~ makinA all loss or losses under such policy pa~•abte to lhe Association as its ~~eres! may appear. In tAe event any sum or sums o[ money become payable therevader the :\ssociatiun shall ha~-e the oD~~on to receive and apPU the same on acrnunt of the indebledness hereby secured. or to permit lhe 3fari8a~or ~ tn recen-r and use it. or any part tAereoL w~itAout thereby w~aiving or impairing any equily, lien or right under and Dy virtue of this mortgage. In evmt o( luss or ph>~s~cal damaKe to the murtgaqed property the ~torlqaRor shatl 6ive immed~ate notice l6ereoE by mail b the Association and Ihe Association may make pro~[ oF loss if the same is not made promptty ~y the ~tortgagor. In evenl of torecbsure ot lhis mort6aBe. or other tnnsfer o( title to the mort6~L~ ti5 propertc in extinRUishment ot the indebtedness secured Aereby, aD ri8ht. lipe and intercst o( lhe :Nortgagor in aad to any insunnce policies lhen in fom ~ ,h.,t. Vass to the purrhaser or qran[ee. i. In urder more (ullc to protect the security o( this morlgage. the \fortgaROr will pay to Aawcialion w~ilh and in addilian to each monthly pay- ~ m~•r.t under the terms ot the nole secured hereb}~ the !ol{owing sums: ;2.i ~ ta~ An installment o[ the uses and assessments levied or to De IeviM aSainsl the Premises covered by this mortKaqe: aod an intal4 ~q mrnt nE the pmmium or premiums that Ndl become due and payable to renew LAe insuraace on lhe premises covered hrreby aqaiast loss by f~re. and Nindstorm as pro~~ided (or by paragraph 1 prrcedia6. or sucb olAer Dazsrd as maY rcasonably be required by lhe Associalion. Such install- ments sAall De equal. respecUceh. to ono-tw-el(th (1-12) oE lhe estimated Premium or premiums for sueh inwnnce. aad taxes and assessments next - Jue ~ as esumated b> the Associalion r less all installments alrcady paid theretor, divuied by lhe number o[ months lhat arc to elapse ooe monlA " pr~nr to tAe date-when such premium or premiums and taces and assessments will Cust beeome pa~able. 7'be Astocialion shall hold such montbly ~.,y~ pn~menis in trost !o pap such D+'~m1um or premiums, and taxes and assessmen4s, betoie tbe same bccome delinquent. ~b~ F:ach Dayment mentioned in tbe precedin8 subsection of Nis P~r~Y~~W? and eac6 paYment to Ae m~de under the note secured here- 'n M shall De added togNlser and the aRqrcgate amount lhe[tof sAall be P~~d bq the Mott[agor each monlh in a siagle payment to be applied br tne Assocnt~nn to the (olluwina items in lhe order sel tori6: 1. Taxes. assessments, firc. w~ind~lorm and other hazard 1tISL[iOt! pRIDIYIDS 2. Interest on the note secured hereby ~morti:ation ot the Drincipat o[ said Dote 'rry Any deficiency in the amounl of such a~greEate montNy D~Ymeot shaU. unless W~d by the Atort~aBor prbr to lhe due date ot tLe oe:t such D~)ment. consOtute an event ot detaull under this n?oet~a~e• Tbe Atsociatioe may colket a"'late cdar~e" not W exceed two eeats 12c) fot ; rach dollar rSl~ of each D~Tment more lAan (iReea /15) dais in arreacs to cover tAe e:tra e~cpense lnvotred ln 6andlin~ delln9uent payments. S. It Ne toUl o! the DaYmenb made b~ Mod~a`or under (a) o[ ParaLraph 4 precedio~ a6a11 ezceed tLe amount o[ pal~~v aetuaU~ made b~ ~`~y Aysoc~a~on (or taaes and asussmmts and insurance premiums. as lbe ease ma~ De, sue6 e:cess shatl be ttedited br Asaoelation an subsM~t pa~- ments to De made by the MorlgaLor upon Nortsasor's re9uest. If. ~owe~er. tse monWty PaY~o~i ~s~ b7 ~1~La~or under (a) ot PualhPd 4 DKnd• 1n~ shall not be su(tic~ent to Day ux~s and asxssments and 1ns~Ranc~e P~'~miums. as 10e case ma~ be. w6m the same sha11 b~rnme dne and Pa~able. K ti'~ tden Mortqa`or shall paY lo Association any amount necessarr W mate nP ~~~~nc~ o0 or befote w6en pa7meat ot wch taues. a~ses~anents. Ot i~- x~::~~ curance Prem~ums shall be due. I( at ae~ time ~ort~aaor sAall tendcr W AsrociaUoo in aceordante with tbe Dro~ ~~b and tLis mott~~se payment ot tt~e ent~rc indeDtedneu erideoced thersby. Asaociat2oo ahall, 10 oomPUtinl the smoml~ ot m~b tndeb~d~ss• ~ceoast ot the 1to[t- ' Qagor t~e balance tMa remainin~ in lAe (unds aecumulattd tor inarance Vt'e~umt. la:es and aaseuments under tbe Vrovlsioas ot (al o[ yarasr~pY ~ x~:~ heceot. Sdould lhe Association e:ercise aeY optbn a~aUable b it uede[ acq o~ tDe Pro~io~ o~ 1~s moK~ase or o~der aald Oote and t~erebl deelace . . ~OON P~GE ~ - _ _ - _ ; 7 ~ j ~ ' . . . . . . _ .