HomeMy WebLinkAbout0412 6. To OMfan4 cwro~Y w~~h and ~b:d~ b1l ~ad~ ~~v~Y ~tipulat~oru, aqrNm~nh. <ond~~~on~ ~.~d cow~+~nn in ~a:d wan:~aory ~a~ ~nd d«d ~N 1wM. s
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7. If ~r of 1M .wM o! ~r Iw«~ rd•.~~d a b. na wo~wN ~h a~d w~Min Nur~y (]0) d~y~ n~,t •f~w ~M wn» s~v~r~11y b~co~ d.n w~d wr~l~.
a if ~~ch w~d ~wY ~M s~ipul~~ion~. +9rw'^~^M. cmdt~om. w~d cowMn~~ 01 uid panit~ory noM ~nd tA~~ inortWW. a~iMr. w rot d„ly pM(u~d. curWl~~d
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wi~A ~nd ~bid~d bY. NN ~yqrp~N fvm n~~~an~d ~n uid W~i~+orv noN ~h+ll Mca~w dw ~nd Wy~bl~ IatAwi~h a eMr~~lew H N» av~iow ol rM Ma~y~pM.
h,lly ~nd cowwl~Nhl a{f Nid pp~p~p wre of inon~r wu wi9ieyll~r ~hpvl~~~d ro b~ wid on ~ucA day. ~nYN+inp in s~id pant~sory not~ or Mr~in b tM
conh~ry nolwiNut~ndinp. • - .
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To deliwe b uid MataqN. on w Eda~ M+rcA 1SM o1 ~ad~ Y~. N¦ ~K~'ob w~dlnctnp M» MY~~ ~ all 4w}ully inpof~d 4aw fer N» p~c~di~q ;
ul~nd~r b d~livw b Nid Matq~q~. ~~n~pM widn~cinp fi» p~Yaen~ o! ~II li~m iw p~W:c nnprw~~~+ wiMin ninNy (VOl d~yf ~fNe IM ~uM J?dl E~co~ i
dw a~d W1~~N. a WY a d'e~chup~ wiMin nimh~ (90) d~ri ~hw dw d~t~. ~nY ~nd ~11 qov~r~nrn~~l I~vi„ ~ha~ ~.uy b~ m~d~ ow Nw ~natosp~d popM~y. '
on Mi~ morl9+p~ a noN. a in ~ny WMr w~y rn~U~np fraw Mr Mortp~p~ ind~M~u ~~cw~d bY tlws ~.wr~9+9~: ~nd il Mi~ condition a i+W cww~i~d w~tl~ and vK• i
1an»d, wid na~~WpM ~1r WY tuch ~un~ a~wws wh~cA ~Aall b~co~ p~?t of ~h~ d~W s~cw~d SY Mis ~anp~p~. ~nd sMll be~r inf~rM~ ~t Nw r~N ol sia pu c~nf. }
(a%1 Ow ~~R WYab1~ ~i•~nrw~lly untfl p~id w s~id Map~yM ~y ~IM MH ~tid mor~p~q~ d~b~ ~~upa~ b~can~ dw Md WY~bb (orMwiM. '
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9. N is twtM+ co+~n~eu~d ~nd +wNd M uid par~iM ~M~ in ~M ~wn~ 01 • ~w~ Miny in~~~hrbd ~o (a~cba ~~s ~no.~p~p~. ~M Mw~Wp~ ~h+ll b~ ~nGH~d a
~pply ~1 MW tiM p~ndllq NK~~K~O~~ Na~. b t1N COIKt Mv11~y ~W~idKlipn MMfO~ fW t1M ppWMenfnl 01 i/K~iVN 01 ~II M~d linqulM MM ~O~fp~p~ pOPM~Y. i
~nd e1 dl ~M r~nh. Iaomn. rteiti: ftaw+ Md'r~iw~~ f~r~o1. ~raw w1+~bo~vN wwc~ d«iwd: and tMreuoa~ it is hw~Y •,P..a.M coreMnt~d ~nd p~«d ~
rAat Nr courl aMll fwMwi~A appoiet • nc~iv~? 01 w~'d eA&r~~d pope~ty. ~11 ~nd ~inqulu. ~nd o! sud~ nnb. incawei. pof~ts, isauM end nv+nu~ Mwr~of, f~aw ~
,~,p~~„w ~p r,,;~h dy usw~ ~w,a~ ~nd dur;p of ~~c~iv~n in 1:k~ us~s: ~nd +ucA wpo+ntw~t sMll b~ ~n+d~ by auch cow~ a•~un~r d snic~ rpA~
to N» Mbrtp~qw. iri ~uu~ssw~. ~e~l nPraM+utivw or uiipu. and witAaA nhnnc~ to Nr ~d~4~+~Y a i~d~qu~CY o1 Nw wlu~ d~M Wop~rM Mr~by ~norlWp~d, g
w ro t!w wMncY or InsoHency o1 tM Mo~t9~Ya. w~d tMt sud+ rMt. MofiN. iacom~, iuws ~nd nwnvN ~MII b~ +ppli~d bp ~ucA nc~iw b~M WYn~enf oi N» ~
mwp~q~ ind~bt~dma~, twb ~nd dwp~s. ~oco~dinY w Ih~ o~d~r of ~ucA cowf.
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10. N~ eonr+Yw+er sAould M nwd~ by tlw 1Merqwo? oi N» wan~s« !~n desu~E~d. a MY VM~ tMf~O~. wiN+o~w tM v~nimn eoewae o1 ~M Mwty~~. ~nd
w~tlaul ~uw~w~ in rpular fora oi bw by ~M pr~ntN of M~ oWip~tion w M~ Mor~9+~ a~and M~+id womiiwrq noN Md d~i~ nwrp~y~. 1M~. and in My~ ~
Mnr, ~nd N N+e op~ion ol M» MaW~p~~. aod wiMou~ notic~. ~II ~w+r of nwmY t~cw~d Mreby sMll inrMdi~Ny ~rd conewnntly wiM ?ud~ convtyane~ MconN f
M ~nd WY~bN and in ddauh.
11. That in M» want N» w~isa MreEY ewrtp~yd, w~nY P+A tMnof. aAdl b~ condr~d w~d uk~n for Pualic uN w~d~r dr oo~ 01 «nu+~nt danun.
rAa Morp~~ sAall Mw ~M riqht a d«ww~d Nu~ ~11 dwn~y~s ~ward~d fa ~M ak°nq of w d.~.v~+ so .«d w«.:a« sMlt b. a~d a M. Mw+wv» ~o a Nr ainain~
eMn unpaid on ftw nwrty~p~ w~d a/ dr aWian o} N» Mwtwph m~ti b~ wF~»d uow~ Nr wY~+ti b~~ piy~eM Nwnon.
t=. TM moNW9a bind~ himsdi ~+or a N~et w v«mit eo b~ er~eqd ~nr n~w build~eqs on tM a~isa Mnin wartpp~d a ro~dd a« PNm7t a b~ ~dd~d
ro ~rry oi the uittiny i~nprowen~+H tAK~on a en~b u~y chanpw or ~INntiona in uid iniprove~nlt wh~th nrlKi~l~p ehM~p~ 1M M~ a~t ~+N th~w~. w~flqul
rM writNn cwn~nl of tM Ma?p~. +ed in 1Fw ~wnt ol ~nY viobtian or ~nawpt ~o v~ol~b this st~pu4tion Mi~ mor~p~q~ ~nd alt swns s~cw~d lwreby sMll im- ;
m~Ai~ta1~/ acan~ dw and colbtt~bM N tM uWion of th~ Maly~pw.
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1~. h is w.df~c.lly ~a..d ~M~ u~n. i. of rM ns.ne• of ~~s
cam.aa-and N++~ ~w w•~r.. oI .ny oe:iqation Mrwnd~n a o( tM oblipstcon ~cwed h~.eby ahall u~nY ~
~~rr» D~ Mld w b~ a wa~wr o1 tM ~wnu hwwf a o/ ~Iw imtrvm~m secur~d Mr~by.
14. If tor~cbsw~ paNdinys of ~ny s~tond mwtp+p~ or s~cu+d ~nnt de~d or snY ivniw I~M of any tind shwW b~ iraritut~d. tM Mor~qaLYe ~y. ~t op~~on.
~mrnedi~t~ a fMruite~ d~clar~ this rnorpap~ ~nd tM ind~W~dr~a s~c.K~d MnEY dw and WYaE1~ fa~Awitly and nwy n ib oo~ion p:oc~td 1o fwecloa ~h~s
morfpap~. ~
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13. To tM ~ateM of M~ ind~beM~u of tM Mw~q~yw to tM AIIw~~a9M deia~b~d Mr~in a secur~d hertby ~M Matppc~ :s Mr~by subropaud w tM lie~ a
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I~~~s ~nd W IM riqhb of N» ownNS M+d lwldaf ~Mrwf of ~~ch ~nd evwY ~no~~~y~ lien a ah~r innrnbra~c~ on Nr land dnaib~d hw~in wA:ch is paid and/w j
utiili~d in wlwl~ a in p~n ow of th~ pocetds of tM Iwn described herein w Hcvred hsrcby, and N» rnp~ctiv~ li~ns oi said mwtp~yes, iitns w wher .ncwnM~nces ;
~MII M w~d tM_ wn~ and wch o! tMm Aerebt~ is Weaerv~d ~nd sMll paas ~o and M heW M tM Mwtq~yN Mr~ ~s s~twiry fa tM indeDt~dr~ss to tM MorfW9»
herein describ~d a heieby ~ecwed. ?o tM san+~ •,t~nt tMt it would Mv~ been W~serv~d and ww~ld haw b~sn paswJ b ~nd been h~M bY tM Mwtp~yK Md it been ;
duty ~nd rpvlarh ~ssiqn~d. h~ns(~rr~d, sN ovK ~nd d~l~vered unro tM M«tqage~ bY swWaq de~d of ~ssiqnment nown~~lnqnd~np tM ~+c~ tMt tM s~ ~nay be ?
iat~if:~d ~nd c~nc~lled of ncord, it b~inq Me im~++rion of eh. wr~~.s Fu~eto ~f Me sa~ w~ll b~ sat~ai~ed u~d canc~INd of recad sy the Aolden th~r~of ~t w abo~t r
~h~ ?~rn~ of NH racadrg of Mis ma~p+q~.
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16. lo wy a~~ and s~nqula~ ~he <ua~t. c~arqes and e.pen+n. ~ndudng lawye.'s 1ees. .eison~b~r ~M~~~ed ar pa~d at any ~~me br ~he Mw~9+9~t bec+~se ol ~Ae i
•e ,.~e of ~he Morrqaqor ~o perfwm, cornpty wnA ~nd sb~de by exh and e.ery ~Ae N•p~lae~ons. syret'*ems. cond~i.ons. and cov~nanra ol wd pom~ssory .w~e a~+d rh.s i
ored o• e~nc~r, and e~e.y such p~ymenes ihall besr ~n~e.es~ from dare +he .ne pov~ded m sud wan~sswr ~+ote. y
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17. VMA~n aml ~ou~t oE ~warY fo b~ Ptid b~r tM Ab~~W~w to tlw AAortyaqt~ ~r tF» Nrma F~eof sA~ll b~ in d~fwlt. w sho~ld tM Morty~yw dei~uh in -
sny of fM o~har Nrms, p~ov~sians or conditions o} fhis Ma~p+pe, tMn and i~ MN ca» eh~ Mo.~paye~ shall h~w dw ripht, without no~K~ ~o rM Mor~p+qw, fo
co!t«r ~nd receiw frpn any tenw+t a I~ssM o~ said ,nor~qaq~d pee+~s~s tM rend, iuuef and pofifs of tM rwl hqu her~by mwtqa9ed and H» ~rnprove/nenM
~ rhsreon, and ro gvt popv r~c~ipp ~nd ~eq~:»~nc~a ther~fw. ~nd ~ftu paYinq •II com~n~ss~ons of ~ny r~nt~l ~qent collectieg tM siene. u~d ~nY ~e»w+~b4 anwmy's
j fe~s snd odf~r ~etessary esp~rws incurred in to1lM:ny sanr. ~o ~pph fM pocceds oi s+xh collect~om ~rpon ~nY indrW~dness. obliq~t:on or leabil~ty. o( ~~+e -
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~ Morrq~qor Mnunder. iM .iyAf qraMed rM Morty~ye~ und~r Ihis pw~pnph sh~ll b~ in ~dd~r~on w, and sMll na liinit w.~arric?, any oelw r:yAr a nphrs yraNed
~ r+~• MalpaqM iw Mis Monq~q~. ~
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? 16. If tnt Mor~q~qors at the tim~ oi mskinq ~his Mwtyp~ w s~bs~qu~nt thsnto uk~ ovt I~f~ insv~~nc~ desiqn~tiny ~M Nlorty+pc~ Aerein a3 btM}KINy with a ~
~ ccmpanY ~PO~ovtd br Mr Mbr1~9e~ d ntipns policies to th~ JNonq~ya~ (w th~ WnDOSe ot ~sec~rinp tM mwfq~y~ loan hMebY sKVred. then tlr MorTq~pt~ aMll i
~ heve tM riqAt W pay any peiniwn accnrinq ~nda a~id policip, and sll swns so eapee~d~d slull b~ added w ~nd bcon» • p~rt of tM pinc~Wl i~deWednns aecvred ~
ty ~his Mortp~q~ ~nd sMll b~ paid bp fM Mortq~qw to tM Mwtqaqe~ in twel.r~ eQwt consec~~~ve monM~y installm~nb. tM f:n~ monMlr iestallment to b~ pa~d ~s •
p~r~ of tnd in addition ro ~h~ ma~~h1Y p~ymant dw w+der this Al~wtqaq~ in tM fint cdcndar ma~~h /ollow:nq tM •zpen~rq ot ssiA sum. Such svrm w ewpended
~ ro bear im«est N the r~n ~t which internt is pay~bl~ upo~ ssid pieK;Dil ind~btedness and eh~ lien of tA~s Mwtpap~ ~h+ll eatend w and s~cw~ tA~ swm so c¦pended
~ ~eqtthef wi~A intar~st rMnon u. her~~nb~efa~ povid~d-
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~ 19_ Tbaf fopeN~e~ wit6 and in odditan to th~ ~oMNr P~l~nt o( prixipal md int~r~st popoble vnd~? tbe hrws oF IM noM secured ker~bp. Mort9oqor
~ ~hall par b Mwqay~~ eocA wwet6 ueti wid not~ is fullp poid. one-hrelft6 (1 /12) of o a~ equd 1o tIN mwud pr~~iw~ dw !a lire. eat~nded cwrero~e.
ond otMr ho:ord iawronc~ oo~erinp t~e sortpoqed prope~r. p~vs lo:es aad oss~asw~enh nett dw w tlr ~ort~pop~d properhr (d) os ts?iawted bp Nbrl~ayee) -
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~ess all w~s dreodr poid tber~, ond b b~ dirid~d bp tl~e nu~ber of a~owths b elopw prior ro t~e dole ~rh~e sud~ bus ond ossess~enri shall beco~we
~ delinquewt. Soid wws ahaN b~ wld br Mortpop~t i~ bust u u~dited 1o t6e p~i~cipol o( tM loon, b pop soid iwwrowu. 1aa~s, ond oueaweb and slwll =
be opplied ow the parwent t6er~of wAew dw_ Mr ~uess IMId ie erust by Mortyoo~e rrbew wid loow a poid i~ f~Y shall be poid to Mort9opw, o? 6is ;
assigns. u peno~d rtpresenbtires. I• tbe e~Mt ~?1 o defa~lt w ~aedoswe, w~d s~ss beld in trvst w~op b~ opplied oa wr cos~s o4 dowo~~s wsroined in =
~ connMion ~ri1h tlr cotlediow o( t~e noN secu~ed Aerebr vnbetbsr br svit, fo~edosw~, w ot~er~ise. Mwlpope~ ~op f~o~ ti~ ro fi~we ot ib option ~o:+e. ?
~ end aftsr onr wch woi~er, rtiwsleM owr w oU provisions her~of req~iriny sucb deposib, b/ wolic~ fo Morlpopor iw vrritip. Wh~e awr sucb woi~~r is in ~
effect, Mo~fyoyor sl~dl pby t~ts. ossess~snb md insvront~ prMiuws os ber~in dsewhert provided.
~ 20. As required by the Federal Disaster Protection Act of 1973, to keep the buildings and all '
~::c;uipment and personal puoperty now or hereafter on said premises covered by this mortgage, insured :
";n a sum at least equal to the unpaid balance hereof, against the peril of FLOOD damage, and to com-
~:..",y in all respects with the provisions of the FEDERAL DISASTER PROTECTION ACT OF 1973. All provis-
~ ic,ns of paragraph 3 above shall also apply to this additional Federal insurance requirement.
~ IN WITNESS Wi1EREOf, tlr s~id N1ortWyo~ hKwow wti h1s hw~J +nd Nal Il+is tM d+y ~nd yw fint ~Eov~ wriMw~. ~
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" ~L ~ - ~ „'--~/1 . "-..a i
;-':=i 5 pRed, u~ted and delive~~d ._^c~ ~SF~'!~
:~,M,,~x,~.o~: DEN S A. PASSMAN ~
; c% ~.c ~ - , _~j. ~ ~~..`L-~..:~-=u~-, _ _ -
SHARON C. PASSMAN
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