HomeMy WebLinkAbout1300 7. 11 ~ny of tM ~vnr o1 n~on~y Mniw nf~.rd q b~ nW pomP~h M~d tvliy p~id w~tA~n Hurty (~0) daln n~at d~« tM auw~ ~~wr~i:y b~cowr d,,~ N+d Wy~bl~.
a If ad~ ~ed ~Y N» ~tipvbuom. Wrw^~^t~. ca+d~~an~. ~nd cown~nn el ~~id Wani»wY ~o» ~nd ~or~~. w~~Jrr. ~ duly p~.la~4 caro~~~d
wi~h u~d ~bid~d bY. ~M ~iWW~~~ ~ww ~nN.~~a»d i~ a~~d pon~iti~pY noN ~MII b~coen~ dw ~n0 Mr~bM Iathw~rA a rMr~~NM ~M op~ion o! ~M Monp~qN.
' a Ivlly~u~d CueDMNly N{! ~aid ~yp~w~~~ w~* ol mon~r wa a~9~n~lly ~~ipul~~~d to b~ w~d a? ~„cA d~y. ~nvil+inq in ~~id O~awiuory noa a M.~iw ~o tl»
eonnary notw~eM~~ndwq. •
To d~liv~? a..;d Mo.~ww~. ~ a E~/w~ MueA ISM of ~~eA y~u. t~a r~e~ipe~ ~v~d~nuna ~M p~y~n~ ol ~11 I~w1v{ly ~ncpos~d ~~,M la N» pu~d.na
uhnd~r 1r~. te d~liwr b Nid Ma~9+ON. r~c~~pn w~dw~unq ~M wvTen~ of ~11 li~m fu D~~c ~~npo.~~h w:Mi~ ntn~ry (00) d~YS rha ~M ~~ny ?MII acow»
dw u~d WY~eN. w~d b WY a dixMry~ wi~Ain ~:nHY (90) d~ri ~ft« ew dN~. ~ny ~nd ~11 Qove~Nn~m~l I~viti tMt ~y b~ nwd~ on 1M n+a~p~9~d popwM.
on Mia ~nor~p~q~ w noN. or in ~r ah« w~y r~wl~fnq Irom ~M AAa~p~p~ i~0udn~a i~cw~d s~ tAi~ ma~C~9~: ~nd i! ~hi~ condit:on E~ ow cowwti~d w~~A a~d o~-
f«~d, Nid mp~y~qH nyY p~y aicA ~wn o~ ~unr wAicA sAaN Miconw pu~ ol ~A~ d~W ?~cw~d bp ~A~~ nq.~~q~. ~nd ?1w11 peM in~*r»f tM r~» ol ~ia p« caN.
(A%1 PM arrw+~. P+ti~b1~ a~mi•~nnwlly ~rlit p~W w iaid Monq~pN ~Y ~Nct MN u~d n+w~y~q~ d~b tMr«+pon A~can~ dw w~d P+Y~bN f«Mwi~A.
9. U i~ IweMr eo+rn~nt~d w~d pr~d by uid patiN tMl in th~ ~wnl ol • fui~ b~inq ini~~w»d a 1w~eloa~ Nd~ ~nw~p~p~. ~M N~w~W9« J`~11 b~ ~n~it4d a
~pply N any t~n» p~ndino sud~ fonc~osw~ ~wt a Nr cowt MvMq Iwi~dktian M+N~oI /a tM ~ppan~ment o! • ncdvK of ~11 ~nd sinp~,l~r IM maty~p~d propNty.
~nd of ~N th~ w~b. incan~~, pof~M. iuws M+d ~~wew~ Nwrwl. fraw wM~ww~r sowc~ daiv~d: ~nd ~~won it i~ Mr~by •,pwsN
Ny~ Mw eourt ~Aall for~hwid~ ~ppoiro a r~e~iv« of wid ma~'pap~d prowrtY. ~II and uequkr, u~d ol weh ~~nb. ineowws. poflN. iuw~ snd r~v~nw dwwf. fraw
wiyt~e~w? wwu dMiwd. wi~h ~M vawl oown and dut7N et'ne~iv~n b Gk~ u~Ni ~ aue~ +voo•nen~+~ ~MII E~ m~d~ M s~eh eow~ ~s • rnan~. d~h~ r:plu
b M» Mert~q~. ih wcc~ao~a NWi rpra~nutivw w a~iiqm. ~nd witAoul nfH~n b tM ~d~w~+cy a in~d~quay o1 IM vdw of ~M popKM M~~bY ~~WY~d.
or to tM wlv~ncY a 1n+olvencY ot ~M Mor~Y+Oo~. w+d tM~ ~uch ~mt. wofib. inco~. is~ws and rw~nuN aMll b~ ~ppli~d ar sucA ~~c~iwr b ~M wrn+~n~ of ~M
nqrp~q~ ind~bNdr»s~. cab ~nd clwp~s. ~ccwdinq q tM adM 01 sucA cowf.
10. If ~ con»vann shovld M nwd~ br Hr 11Ao.~w~ of Nw p~m~sM Ar~ d~sc.7bed. or ~ny PM tMrw1. wi?AaA tM wr~tan cons~n~ ol N» Mwtp~qw. ~nd
witlw~A u~wnp~an M rpulx laa oI 4w bp tM yr~ntN ol tM obliy~~ion w N+• Matp~qe~ u~ar~d bp Nid promiswry noN Md tAis nwh9+9~. ~d in tM1
~wnt. ~nd N tM op~ion oi 1M Mortp~~. ~nd witlau/ not:c~. ~11 ~ww~ 01 mo~r wcwed Mr~bY ~hall inrn~i~Ml~/ ~nd tontwnntly wiM ~ucA conv~y~nc~ bconr
du~ ~+d P~Yabq and in d~1wU.
11. TM1 ie tM rven~ ~M wNni~M MnbY ~~9+9~d. or MY W~~ IMt~O/, ~h~ll co~de~d ~nd uk~n iw P~ic vN und~r tM Doww ol ~mirwn~ dwuin,
- 1!w Morlqp~~ sAalt M~ tM riqAt a dMn~nd tM~ all dunaq~s ~wrd~d tor +M uki~q of oLjdam.y.. ro u+d pran~s.s .h.ll b. w~d ~o Mw Mortp~~ up w~M ~n+wnt
, M.n w~p.id a? N~ia n~o~+w~. .nd Nw cWan ol N» Mxep.q.. m~r b. .vot~ d uvw~ d+. wtin~.na 1.~~ pa~r.01. Nwwn.
12. i!r narty~pa bie+da hinu•11 nW a a~ct o? PN~wir ro M erM~d ~ny mw Auildinqs on 1M W«nisa Mr~in wanpaq~d a ro ~dd a w ONTi1 a~~dd~d
b~r d tM •ai~~:nq imp.owmw»s ~Mr~on a~k~ ary cMnq~ w~Itent~on~ in uid improvan~nh wh~cA m~arialy cMnq~ Mw w N~ us~ ~Iwwf, w~fAan
IM wriff~n cons~M uf t!r Mwtypn. ~nd in tM ~v~M o( ~nY vid~rian o~ ~nano~ w v:olat~ ~hi~ stip~r4~im tAis morlp~p~ w~d ~11 sw+u s~cw~d Mr~by sMll iw?
~diqdy b~can~ dw and colbcnbh ~t ~A~ cotion ot tM Mwfp~pN.
13. It is w~cN~cdly ~pre~d Ny~ t~~ i~ of tM esia~c~ oI ~hh comrxt and ~M+ no w~iv« o! ~nr ob:ip~~an Mrwneh+ a ot tM oW~p~t~a+ s~cwed Mr~by a1~~11 ~ny
tin» b~ Mld fo b~ • waivw of fM wm~ Mrwi a of N» irotrwnm~ setvrd Mr~by.
11. If iw~ctosw~ poc~edrpi of ~nY s~cond monp~p~ a s~cond truat dwd or ~nY iunior li~n of any kind sAould M ieut~wnd. tM Mo.~p~te~ m+y. in optan.
imm~d~tdy or N~eruf~ d~clx~ tAis mon9~p~ and tM ~nd~M~drras t~cw~d Mr~by dw ~nd WYaW~ /o.Mwid~. ~nd ~r H ib oPUO~ a0.oceed ro Iw~clos~ thia
mw?9~9~•
IS. To tM ~,c~nt of fM i~W~dn~~~ o( ~M Mor~p~pw ro Nw 1Noreg~q~e dnu~bed Mrein a ucw~d Mreby ~ Mwtppe~ is MreEy wbroy+~ed ro the t~en w
liau and w fM ripAa oI th~ ownMS and holden MNeol of ~~ch ae~e ~wry n+or~g~y~ I~en w mMr innhnEnnc~ o~ Nw Ir+d dnaib~d Mr~in which is p~id ~nd/ar
sati~fi~d in wlwl~ w in put out of th~ proceids of tM loan dtitr~bed her~in or sec~red h«eby, ~nd ?M retpctiw liem ol s~id monpaqef, liens a otAer ~~+cwnbru~ces
thall b~ w~d Nw. urn~ and wch o( them Mreby is pes~ned and shall pui ~o •nd b~ MW !y ~M MortqaqN Iwnin u secwity for ~M ind~badness w tM Mw~paqN
Mrtin dpcriMd a he.cby sscwed, to the sam~ eaten~ tlu~ i~ would Mv~ be~n pr~serwd and woutd hsw been past~~ a and been Mtd by ?M MonpaqM Aad it been
duM ~nd ~pul+?~Y ~stiyn~d, truufar~d. a~t ovN and dehvtr~d umo ~M M«tyaqav br s~p+r~~~ d~ed o/ ~is~qnm~nt notwitAstandinp tM fxt M~t tM sam~ maY be
satiaf~~d ~nd urrc~lled ol ncad. i~ Eeiep tAs ~nfenfion of tM partie~ hereto tha~ the sam~ w~ll E~ ~~tiified ~nd cancttled of record ~y 'he ho~~n Ihtreo! a~ w~bw~
1M ~im~ of tA~ nca0iny o( ~hi~ ~nwty~q~.
16. To pay ill and s~n9„lar rhe cosq, charges and e.pensea. ~nc~od~~q ~awyer's lees. rusonably ~nc...red a pald a~ ~ny nme by ~he Mo.rqaqer, trecauie of ~Ae
}a~:e.e o4 rhe Ma~qago. ~o pcr}o.m. comul~ wah and ~b~de by exA and e~ery ~Ae st~p~lat~ons. aqretmtros. cond,t~ons. and corenan4 ot sa~d p.om,sswv ~crr and ~h~s
deed. o. e~~he~. and everr fucb paYmM~s stiall ~ea. ~n~eres~ (rwn dare se Me ra~e p.ov~ded ~n sa~d prom~sswy noro
17. Wh~n ~ny ~~narnt of mawy to b~ p~id by ~M JMwtypor to tM AAorty~qN und~~ th~ terms hK~of tMll b~ in d~iwlt, a sha+ld ~M Mortpayo~ de(~ult in
anY of tM other terms, qwisiom w condirioro of ~his Mar9aye, ttan ~nd in th~e us~ the JN«tpaye~ sMll Mv~ Nr riqhf, wirhou~ not~u to tM Abrtyyw, to
colkct ~nd receiw f~om ~ny tenant or le»M o1 a~id .nortp+yed p~e+ius tM renrs, isa„ea and pof~ts of tM r~al nt~r~ her~by nwr~ysyed a~d tM ~m~ro~anen»
Mereon. snd to y~ve pop~r nc~~p~s ~nd xqvinancea dw~~fo~, and ~f~er piy~nq •11 comnuss~ons of ~ny r~nul ~q~M cdlecfing r!r u~. ~nd any reuonabt~ ~~rorn~y's
f~es and oMw nec~tsuy •ap~eup incwred in colMctinq same, ro~ppty tM proceeds of svch colkctiay ~pp~ ~nY indebf~ss. obl~yation a li~bil~ty. of 11»
Mwtysqw herew~da. TM ~iyhf qnnred tl+~ IMortpay~e w~der N+is p~nqr~ph shail be in sddt~on to, a+d ~hall nW I~mit w r~atrict, ~ny otAer riqht w ri9hb panted
tlN Mwtp~yN in this Morty~p~•
~ 18. If tA~ Mwtysqors ~t ~he tim~ of ~nekin~ ~his Mwtya~ a t~+bs~pNnt tl~~tro t~k~ out hf~ ins~+ranc~ d~aiqnatinq tM Nbrtqaqe~ 1+lrein n benelici~ry witA a
caroanY +owoved by ~M Mor~y~qe~ a ~s~~y.n pol~c~es to tM Morf~~ fa M~ pwpos~ ot sscw~ny ua ~wrtqay~ loan Aerepy sec.,red. ~hen tM Mony~pe~ J+all
Mve M~ riqht b p~Y +~Y D~~ium acc?uirg w+d~r uid policits, and all w~ns so espended sh~ll e~ ~dd~d ~o end b~corn~ s pHt o} tM principal i~debredn~sa secw~d
by Mis Morty~y~ u~d ~hall be p~id by tM Mwtq~~w to tM Mwtpaqe~ in tvwlw pwt consecviive monthly instaltments. ~M first monMly :rou~lment ~o b. w~d ~s •
pan oI tnd in ~dditia~ to t!w montAly p~ym~e~t dw ~nder thia Mortqspe in tM first c~tend~r month (ollow~np tM tapendiny of ssid sum. S~ch wins w•ipended
ro bear ~nt~rest ~t tM rau a~ whKh i~terest is paY+bl~ Won s~id M~~v+~ ~~b~edne~s ~nd ~M I+en of thu Mwfy~~ sAsll ealend to and secw~ ~M aurns w capended
~oq~rher wieh infes~a~ ~hK~on u her~~nbefw~ pavidrd.
19_ Thof toytfAet ~i14 and in odditioe b the ~ontAly paYa~ent o( priocipd md inlerest papable under tlw Mrap of fUe nofe set~red 6erebp. Mwt9ogor
sl+oll poy to Mort9opee eac6 wonlh ~nhl soid nofr is f~llr poid, onchrelfth (1/12) oi o s~w equal to th~ annud preiwiu~w due fo~ lire, eaMnded covero~.
ond otker Iw:ord irtsuronc~ co~eri~y tMe wort4oped Properry. pl~s tuaes ond mssiswenb neat dw ow N~e ~o~fpop~d prope~r ldl as estiwwted br Mortpoyee)
I~ss oll wws drwdy puid t6er~for, ond w b~ di~id~d bp tIK n~mber o! eonths to elopse prior w tl~e da~e wA~a wcl~ M:n ond ossesss~nts abdl becoa+e
d~liwqusnt. Soid sv~s shdl M 6eld bp Mwtpope~ iw trvsf m a~dited ro N~e priscipal of tAe looe, b pop soid iwwronce. toan, ond os~ess~enb ond siwll
b~ opplied ow fM pap~ent tMrwl wMn dut. /u~r eacsu i~eld in hust by Morlpopee v~hen soid loon is paid iw frU sAoll b~ poid b Muf~ogor, or 6in
ossiyna, or penonol represtnloti~es. In tbe tvent oi e default or fuedosure, wid wws Aeld in h~nt ~wp bt oppli~d w awr cosh d daw~es susroiwed in
connection witA. tM tdlectioe of N~e nots satured 6erebr ~Mthsr bp suit, foredosure, or othenvise. Mor~pop~e ~ar fro~ ti~e ro tiiue M ib option woive,
and oher anr wc6 woiver, reinstafe oer w oll prorisiows hereof flqV111119 SVCI1 dlP011IS. ~ eotic~ b/IAortyopor i~ ~rriti~y. WAile unr such vroirer is in
•H~ct, MorTpapor sAoll poy faatf, assesswienri ond iesvronc~ preuiuwn os btrein dsewhere pmrided.
20. As required by the Federal Disaster Protection Act of 1973, to keep the buildings and
all equipment and personal property now 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 comply in all respects with the provisions of the FEDERAL DISASTER PROTECTION ACT OF 1973. All
provisions of paragraph 3 above shall also apply to this additional Federal insurance requirement.
IN WITNESS W.iEREOF, eh~ iald Mwtyayw M+wnto wt~ hi~ h~nd ~nd s~d this tM d~y wid yw fint ~bow wr:mn.
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S~prted, sealtd a+d deGvered _ - f A
,ti~ w~,~„~. o,: HAROLD Y. S. WONG 1
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