HomeMy WebLinkAbout2606 p. IO Wrrpln. [PnV~~ w~m ~.w ~...Y. v? • ' ' ~
If ~nY of H» ~wti o! ~y M~~:n ~~fNr~d a b~ no~ wo~ro~M •~+d ~~ny o~id w.~Mn ~A~r~y 1~01 d~ri M,~ ~f~~. ?~r.a ~~v~r~ihr McoRr d.N ~~+d Wr~bl~.
c• if ~~cA ~nd ~wry ~M ~~~q,l~t.on~. Wr»rw~nn. cond~~~on~. ~..d cov~n~n~~ 01 ~~~d w~~»wr roe~ •nd ~A~~ ma~p+p~. a•~~M.. na d„i~ p~~lwn+~~. ~arol,ed
w~M ~nd ~bid~d bY. ~M ~pq~~W~~ w~^ ~n~~cv»d ~n ~~~d wam~~wY noN ~MII b~co~ dw •nd wr~~l~ IwMw~tA a M~.~~IiN p tM oonon ol ~M Ma~p~yN.
f~l1y M.d co~ro~~~~ly u if s~~d pqr~p~a ~wn ol ~rwn~Y w~~ q~Q~M11y ?npvl~~~d a a w~d on ~~.cA d~y. ~nyM+:nq ~n ~~~d pow~~~fuhl noh o~ Mn~n ~o tlN
conn~ry norw~llul~nd~np.
e. io d~Lv~r ro u~d Matp~yN, on a Mfor~ MaaA IS~A ol e~ch y~N. 1~a r~c~~prs wid~nc~eq eM p~Y~^~ d~U lawhdl~ iw~poti~d fuw (a tM p~c~d~nq
ul«+dar Y~+~, b d~Gv~r ~o uid Mw~9~9~+. ~K~'pn ~v~Mnunp ~M wv^+~^~ ol •~I L~m la publa ~mprov~~HS w1~Ain nlnery (90) d~r~ +ItN ~M urn~ ~MII E~co~
dw •„d aysw. ~nd b paY p di~cMrp~ w~~h~w ninNy (90) d~Ya ~ftM dw d~N. ~ny ~nd all pov~.nm~m~t levi~s ~lwl ~nay b~ nuM o~ M~ ma~Qap~d poM~hl.
on rh:~ mwtp~q~ ar noN. or i~ ~ny o~Mr w~y r~wl~inp I~an tM Mwtp~q~ ind~DNdn~ss s~cw~d ~y ~Ais ~na~y~p~: ~~+d i1 fhi~ <w+d~~~on b~ na coTpl~ed w~M u~d pa-
tw~4 wid ~a~p~pN ~Y D+Y sucA ~v~+ a~wm wh~cA ~MII Eeca+r D~ ol M~ des~ ~ec~~~d Dy ehn inw~p~p~. ~nd sh~ll M~r m~KN~ tM ~~N of ~i¦ pN c~M.
(AX) DM ~rv~wr4 WYab~~ uiwi•~nnv~lly w~fil Wid a~~i0 Ma~q~qN ~y ~I~tt th~~ ~~~d ~nar9p~ deb~ ~Mrwpon b~coT~ dw ~nA pay~bl~ IwMw~M.
9. ~t is fw~M~ co+en+m~d ~~qrNd by ssid p~~~it~ ~Mt in tA~ ~wn~ of • wi~ b~~nq ~n~~uuud ~o (o~~clof~ ~hls ~nw~WO~. tM MwtQ~y~e ~~~II E~ ~nuU~d to
~pp1y N~nY tinw p~~di~q ~ut~ fw~clww• wi~ b tM cow~ Mvieq Iw~~dict~on M~rwl iw ~M ~ppo.n~,.Kn~ 01 • nc~iva o( ~11 ~nd ~inp.ll~r tM mwtp~q~d poptr~Y.
~nd oi all fM rMb. inconys. po/in. it~u~s ~nd r~wnw~ tM~~of. from wMfw~wr so~rc• d~~~ved: ~nd tMr~vpoo il i~ A~reby upr~»ly covteun~ed and ~9~Md
~h~~ tM cwr~ Jull lad+wi~A ppoirt~ •~K~iv« of iaid ~aty~q~d poot~~lr. all ~nd unqul~r, ~nd of svch r~nb. ~nco~nes. po}~N. i~u,~s end r~wnw tMr~ol. Han
wMlso~wr ~owt~ d~rived. wiN~ ~M wwl pow~n w~d dut:~s ol nct~ven in lit~ c~s~s: and ~ucA ~ppo n~m~n~ ~h~ll M m~d~ by sucA ~our~ a mane~ of ~nic~ r~pAl
ro Nw A6afp~yM. in ~uccasw~. 1~~1 rpr~sMt~~iws a~~~iqeu. ~nd witAovl r~fNenc~ ~o tM ~d~ov+cY p in~d~q~~cy of tM v~Iw of ~M woWny ANeby mw~W9~d.
a to d+t wlvMCY or ~nso~w~cY o1 ~M Matq~pa. ~nd MN svch nn~. pofiM. inco~. iu~vs ~nd r~wn~w sMll b~ ~ppl~ed by avtA r~ceiv~ ~o tM p~r~~~ ot ~h~
mw?y~y~ ind~bMdnea~. co~~s and cM~q~s, ~ccad~np a th~ ad~r of ~~th cow~.
10. If ~ conw~NeKS slw~ld b~ nwd~ p1r tM Ma~9~~ ol N» ptm~~ Mr~in deur~bed. a? ~ny p~?1 eMrw/. vv~~l+ow tM w~in~n conunt ol rM Mw~p~yw. MA
w~~Aou1 ~s?wnpt:on in rp~,br fa:n of I+w ~ ~M pr~nte~ of 1M oblipNion to H+• Mw~p~pN cre~ted by uid po/nissory noN ~nd Mi~ ~o.~wa. ~Mn. a~d in ~hat
~wM. snd N tM oWion of Nw MarWpN. and wiMout ~o~ic~. ~II swm of marr uc~rtd Aere~y sMll imm~duttlp wd ca~tvrr~M~y w~M ~ucA conv~y~nc~ b~conr
dW M~d MY~ ~nd in d~f~~ll.
11. 1M~ in tM event tM p~mis~s Mre~y nwrfvp~d. a s~r O~rt tMrwf. sA~ll M condemn~i ~nd uk~n fw p~W~c us~ unde~ tM Do~r of M+ieHnt do~nain,
eM Mortq~qe~ sti+ll Mv~ N» riqM ~o d~~nd tMt ~II d~m~q~s aw~rd~d fa tM b?ieq of w dunag~s ro u~d pNn~sh s~ull b~ p~~d ro ~M Matp~q~e ~p to ~M ~m«+~~
r!»n ~~id on th:s ewr~y~y~ +nd at Mw option ef tM Mwep~qN ~r M~ppli~d upon tl.~ wymen4 bst pay~W~ tM~~on_
1~. TIy ~nortq~yw p;nd~ Ainue~f not b ~rM or pa/ni1 fe M e~~cNd ~ny n~w b~~ld~nqs on ~M pNnis~s Mr~in nwrty~p~d w ro~dd lo a pe~m~f ~o E~ add~d
ro•ny of 1M ~ii~tiep irnprov~m~Na rMr~on w~nak• ~rnr cMnq~s a~It~~~tans in s~id improv~m~nts wAKh nwterially cMnp~ tM u~n~ a+M us~ *Mtwf, w~N~ovt
rA~ vwin~n cons~Al of fM Mw~y~qe~. +nd in tM ewnt of MY violuian o~ ~nemPt w vwl~t~ thi~ st~pul~t~on IA~s matpay~ +~d ~II au~ns ~ecw~d Mr~Ey sMll iin-
m~d~~tdy p~cwn~ dw u~Q coli~ct~bl~ ~t ~M op~ion ol ~M Mw~y~q~•
1J. It is swd(~cdly ~qrMd tMt t~~ i~ of tM essa~c~ of tlus conux? u~d ~Mt no w~~re~ ol ~nr eb'~9+t~on Mrwnder a of tM obl~p~tion s~cwed her~by ~MII ~t ~ny
~~nw b~ MW +o E~ • w~~ve~ af tl~ Hrna Ae?~of w of tM iM1NmMt secw~d he~~by-
1!. If fw~elosw~ WocNdinqs of ~nY s~ea~d mortq~q~ w i~cmd erust dNd or ~nY iun~a t~e~ 01 anr k~nd alw~ld b~ imntvr~d. th~ Mu~qagee may. a~ ~es op~~o~.
~mm~d.aply w tMnafter d~cta~ this mor~pa~ +nd tM ~nd~~dnes~ sacur~d Mr~~y dve ~nd Wr+~~~ (or~hwitA, and may N it~ op~~on Droceed to fweclc~e thn
mwtp~y~•
13. To tM •aNe~ of tM indebedn~s~ of ~!K Mortqaqw ro t!» Mortya9e~ descnbed hers~n a secured hereby tM Morep~ye~ is Mereby aubw,~a~ed ~o ~he I~~n w
I~cns N+d to ~M ?iqhta of ~M own~rs ud ?wlden Mereof of e~cA and ~verY ^ar~9+ge I~en w wher incwnbru~c~ on ~M land deur~bed herein which is paid u~d/w
~a~~ifi~d i~ whob or in par~ o~t o1 th~ procceds ef tM lo~n d~scr,bed herein a aec~~ed herebr. ~nd tAe respecr~w I.ens ot said mor~y~ye~. I~~ns or oTher ~nc~mb.ances
aMll E~ ~nd tM. wr.~ u~d wch of than Aereby is p~aerved and shall p~sa to •nd b~ Mtd by ~M Mwtq~qe~ Aer~in n sac~rity fw tM ~nde~t~dnesa ~o tM Mw~qapee
here~n deuribed a hcre~y secured, eo eM s~m~ e.r~n~ rMt it wovld h~w been pr~serv~d and wou!d Aav~ been paue~ a and been Mtd by ~M Mwtp+g~e had it Ceen
dvly ~nd rpvluly ~~+~yn~d, n~nsferr~d, sN ove~ and d~l~ve~ed unto tM Morrq~yae bv separ~~e decd of ~isipnmen~ notw,rhstand~~p tM fact th~f ~M ssm~ m~v be
set~~<<ed ~od unc~Ued of r~corC. ~einp ~he ~nrer~uon of tM pa~t~es Aae+o ~Mf ?he a~m~ wdl Ae an~Ged ~nd cu~ceUed of recad Dy ths holders thereol ~t a about
t.`•• tirn~ of M~ rtcord~nq o( thn mon9ay~.
lb. To pav and s•~9~~+~ ~he cosH. c~arges and e.ptnses, mcl~d~nq lay.r~r~s fees, ne~on~bly ~nt~rred or pa~d at a~y ~~me Dr rhe Morrgagee beca~.ae oi rhe
_~e o1 r1,e Mo~~qagor ~o pe~lorm, comply w~~h ~nd ab~de by ex?+ +nd erery el,e ~np,.~a~~o~~. +9~eemen~s. cortd~no.~s. and mvenanrs of s~~d D~om.•uwy ~oTe •~d M.s
aeca o~ e~~he~. and e~ery su(w D~Y~'Mtf sh~ll bear mteret~ ~~om dare a~ ~F.e ra~e Drov~ded sa~d prom~fsory no~e
17. Wh~n anv ~no~r~r of mo~tY ~ a Wd ~Y ~ M°'fp~pq ro tM Marty~pt~ u~der tM ferms Mrwf shatl M in d~(~ult, w sh«.Id tM Mwryapor d~(~vl~ in
~~y of ~M orhN tenns, provisio~s or condn~ora of ~A~s Mweyaq~, ~Mn and ~n thae us~ rhe Mwt9aqe~ ahatl Mw ~M n9ht, w~~hovf no~rce ~o *M Mw~9ayw. fo
! mllec~ u~d receiw from ~ny tenw+t a le»e~ of s~id mortqp~d pa++iu~ Nw renb, ~ssun ~nd pof~ts of t?» rul est~t~ hereby mor~yaqed aod tM ~rnprovemenh
j ~hereon, and to q~ve D~oP~ rec~ipts ud acpu~n~ncea tAerefor. ~nd ~ft~r paYinq •11 comm~ss~onf ol ~oy renu) sqenf colkcuny tM sarne. ~nd ~ny reasw+able auwntr s
~i ;ees and othw nec~yyuy •¦p~rn~s inc~rred m cofl~ctirg s~. ro ipply tht Woceeds of svcA collectiona upon ~ny indrbNdness, obl~q~t;on u 4abil~ry. o( ~Ae
~ - Morrqaqor Aerwnd~+. TM ~iphf qranted tM Mpty~qee under fhis paraqr+pfi sMll b~ in ~dd~eion fo, u+d sMll nol hmit a rtfrrict, any o~Mr r~y1~t a nphn pr~nted
fhs AMnyagt~ in this Monp~ye-
~ 18. If tAe Mortyayws a~ tht t~rrr of rrukiny tAia Mwty~y~ a subseq~r~nt thcr~ro t~t• out 1~1~ ioa~r~nc~ desiyn~tiig tM Abrr9ayc~ Aerein ~s btMfKi~fy w~rA i
i cemp~ny •~ro~ed br 1M Mbrtg~ye~ w~ss~qns po~iu~a to ~M Mwtq~ye~ Iw Ih~ purpose of sec~rinq ~M mortpaqe (o~n hereby secwed, Ihcn tM AAortq~qe• aha~l
; hive ~h~ r~qhe to paY any pe~iven K[r~inq undn uid pol~ci~s. and a11 sums so eapee~ded shall be ~dded to snd betw~r • part of ~M p.~~c~wl ~ndeb~edness secwed
~ by this Morlp~q~ and alull b~ paid by tM Mwtgayw to ~M Mwtqaqe~ ~n iwelv~ epwl consecut~ve rrwnthfy ~nstallmenri, tM /int monMly ~mull~nent to M paid ~s •
r part o} !nd in add~Goo ~o tl+~ monthly p~ym~m dw under this Mor~p+qe m tM first cdendar month follow~ny tM •apendinq of sa~d svm. Such sums so e¦pended
io 6ear iro~resr ~t tM r~?e at which iotemt is pay~bl~ vpw. s.~d p~nc~w~ ~ndeb~edn~s~ ~nd ~M Gen of Mh Mwty~~ shall eatend to and secure the aums so c¦peoded
~ +o9erher wi~h ~~te~~at tA~reon aa her~~nb~}p~ povid~d.
a
19. Thof topet6e~ with ond in odd~~~oe ro tM .o~~ti~r Porme~+ of p~i~ipal md ~nterest poraWe under IAe terws ol N~e note secvred hereby, Mo~tga9or
~ shell par to Mor~yopee eocl~ wwnth unfit wid noM ii fullp poid, ooe-lwelft6 (1 /12) of o s~a eqYO) to the oneud pr~nuuw dve for fir~, eatended co~e~age.
~ ond othcr ha:ard iwsvronce cowrinq tbe wwtya~ed p~uperryr. p~us tuaea md osses~w~enh ne~t dve on N~e wwtyop~d p?opertY (dl m estiiwated br Mortgogee)
s iess oN wws alreodr poid tA~refo?, ond b be di~ided br tha number of awnths W elopse prio~ ro the dote wAen svcli toaea aed oaessiaents sholl beco~ne
delieqyent. Soid s~~s sholl b~ 6eld bp 1~lwtgoye~ ia trost or uedited to tbe principal of t6e loon, to por soid iewranc~, roaes, and asseuweeb and sholl
o- be applied oa /M popwent tbereof Mrhen d~e. Anr eacess Aeld ~n h~s+ br Mo.e9oyee wben soid loon u poid ie f~ll shdl be poid ro Mortpoyor, or h~s
~ assigns, or penonol npresenbfives_ In N~e ennt ol a de(avlt or foredasure, wid w~s held in trust wor be opplitd ow wy cosh oi doewges svtrained in
~ co~necfion wiM fhe colledioa of N~e noh tec~red 6ertbr wAether br avif, (orcdosvro, u otAerwise. Abrtyogee wor ho~ tiwe to tiw~e ot ih opfion rva~~e,
~ ond ohtr onr sYCh woi~rer, reinstat~ onr w oll pro~isions Aereo( req~irinq suc6 depositt. br notice to AAort9oyor iw writi~9. While any s~ch woirer is ~n
~ ef(ect, Mort9o~o? aholl por to:~s, assesssenh ond ins~ronce prewiuss os berein elsewhere provided.
~ 20. As required by the Federal Disaster Protection Act of 1973, to keep the buildings and all
~ equipment and personal property now or hereafter an said premises covered by this mortgage, in=
sured in a sum at least equal to the unpaid balance hereof, against the peril of FLOOD damage
~ and to comply in all respects wi~h the provisions of the FEDERAL DISASTER PROTECTION ACT OF 1973.
P.1~ provisions of paragraph 3 above shall also apply to this additional Federal insurance re-
~ quirement. -
IN WITNESS WriEREOF. rM uid Mwtqsya 1+~r~,nto ub Ids l++nd ~nd s~~l fAia fM d~y u~d yw fint ~bov~ wnn~n.
~j
~
: ~ C~
~ C Lyi. ~ t. - csenu
:1 ;.prtcd, seded ~,,~~.~d Anthon _ ~ Paa 1 orr : _
: th~ presence o~: Y ~
s ~ `
; - ~ ~
~ t~...~ ~ :_r~ t..~~.. : tsenu
~ ~ Patricia A. Pallon
-
-
' ~ r ~L~" ~ - < _ ~ ~ ~ ~ _ .
~ ' : : ~ _ ~ J~. . - - ~ '
U1 R(~¦226 P~E26U4
zs ~ DQUR
s
~~`-r _ _ . ._yR
~ _ - ~ ; ~
~ z . . . . . . . _ _ . _ _ .