HomeMy WebLinkAbout1262 together wlth all the tenemenla. hereditaments, prlvile~es and appurtenun~ws.Qwa~w~~loi~ing or ia any way apperlaininS.
includlag aU the bulldiags and improvements which are rww or hereat/er may~be e on said land and all Hxlures oi every
nature which are now or hereafter may be attached to o~ used [n conneclion wlth satd ar~d. buildina or improveme~ts. includ-
ina, but aot by way of limitallon, all heatlt~, plumbl~ and electrlcal flxtures, heat regulators. hydrostats, hot waler heaters.
oil bumera, stokers. turnaces. window shades. Rwnin~s. storm and screen saahes and doors and air conditioning apparatus. and
sit We re~?t~. bssea sni D+~a whioh ms7 srbe ~e be hai tberehom: t
Md aU the Estale~ Title and Interest ot said MORTGAGOR, either in I~w or equlty~ of. in, and to the said premises.
together with aU the privtle~es u?d iPPuKe~ances to the same belonging;
TO HAVE AND TO HOLD the aame to the only proper use of the MORTGAGES. its succesaora and assigas forever; and
the MORTGAGOR dces hereby covenant with the MORTGAGEE that he is lhe true and lawiul owner of the said premises with
the above mentioned appurte~ances and haa full power to cor~vey the aame. that We tltle so conveyed is CLEAR. FREE. and
UNENCUMHERED, and further~ that he does warrant and ~rill defend the aame aQainst all claims of aU peraons whon~soever;
PROVIDED. NEVSRTHEL.ESS, that wberea~ said MORTGAGOIt has received irom MORTGAGES. the sum of
Fifty Five Thousand Eight Hundred and no/100---------------------- 55,800.00-~~1~~~
as a loan evidenced by a mort~sSe aote. the tern~s ot whieh an incorporated herein by reference. which loan he hereby promises
to repay with intereat in advaace in accordance wiW the terms oi said morigage note. Said iaslallments to be epplied as iollows:
FIRST. To any advances for insurance. taxes. rates and assessments. aad ior delinquency charges and other sulhorized
charges.
SECOND. To interat on said loan at the rate of 9 per cent per annum in sdvar~ce, to be charged on the unpaid
monthly prlacipal balance.
THIRD. To the unpaid principal oi aaid loan;
.
The maturity date oi aaid loan is ...........MBY.--.1.~...2004----•-•-•--....._
NOW. T6B~8F0~6, the said MORTGAGOR, ior himselt and his heirs. executors, adminittrators. successors and assignt.
covenants and agrees with the said MORTGAGSE. its successoz's and asalgas, as follows: ~
~
1. To pay to the MORTGAGEE witb the above stipulated amount an additional amount to be estimated by the MORTGA-
GEE to be suHicient to enable said MORTGAGEE to pay taxes, assessmenta and Insurance premiums as they become due on
the premises herein deacdbed. My deflclencifa of such additional payments shall be forthwith deposlted by the MORTGAGOA
with the MORTGAGEE upon demaad by aaid MORTGAGEE.
2. To maintain impmvements on said real estafe in good repair and condition to the satsifaction of the MORTGAGEE. ~
and comply promptly wiW all laws, ordinances. re6ulations and requirements aHecting the said mortgaged premises.
MORTGAGOR agrees that he wlll perrnit MORTGAGEE or its agents at all reasonsble timea to enter and make inspections of
the premises to ascertain whether or not the condiUons and pravisions hereoi are being complied with. If the mortgaged premises
are altered, remodeled, destroYed o~' removed. or a change in owneiship occurs without the written coasent oi the MORTGAGE$
the balance due aad accrued interest thereon, to8ether with any advances, s6all, at the option oi the MORTGAGES become
due and payable at once wittwut furiher noUce and payment thereoi be enforced in accordance with the RevL4ed Code of Ohio
and any amendments or supplementa thereto.
3. That MORTGAGSB shall be entiUed to receive any sums which have been or may be awarded MORTGAGOR for the ~
condemnation oi the premises or any part thereof for public use and any sums which may be awarded MORTGAGOR for
damages caused by pubHc works or rnnstruMion on or near the premises.
4. To maiutain insurance upon the above described premises to the satisiaction oi MORTGAGEE; and that all policies
of insurance shall be depo~Ited with the MORTGAGEE and ahall contain a standard mortgage clause with loss payable to the
MORTGAGEE as its interest may appear•
S. That if this morigage is given to improve the premises herein described and/or to pay for or discharge prior encum-
brances thereon, and the funds secured by the mortgage may be paid out in whole or in part by the MORTGAGEE as provided ;
by Section 1311.14, et seq. of the Revised Code of Ohio, or any amendments thereto.
6. That at anytime after two years from the date of this mortgage, the rate of interest may be increased or decreased
on this loan. In the event the provisions of this paragraph are invoked, any pmvisions for prepayment penalty shall be waived
and any increase or decrease in the interest rate will require a correspondingly increased or decreased amount in monthly
~ payments.
! payment of monthly installments when due or failure to perform any of the con-
~ 7. That in the event of default in the
~ ditions contained in this mortgage and in the mortgage note secured hereby, then the principal and accrued interest ogether
with any advance secured by this instrument shall become immediately due and payable and the totai shall bear ._.._..~~percent
interest from the time of such defaWt without further notice, said notice being hereby expressly waived. and at the option ~
of the MORTGAGEE. foreclosure proceedings may be instituted. If said premises, or any part thereof. are occupied by the ~
MORTGAGOR, he will immediately aiter any such defaui~ vacate said premises within ten (10) days; and upon failure to
vacate, the MORTGAGEE SHALL be entitled to recover possession of the premises described herein, and the MORTGAGOR
herein agrees to pay rent equal to one percent (17c ) of the original amount oi this mortgage monthly as long as he is in possession.
8. To pay to the MORTGAGEE apy and all sums. including costs. and eapenses, which MORTGAGES may incur or ex-
pend in any proceedings to sustain the lien ot this mortgaBe or its priority. or to defend against the liens or claims oi any person
or persons assertin8 priority to this instrument. or to recover any indebtedness hereby secured. or which it may be necessary or
proper to prove the amount thereoi. or for sny ab~tract or extengion of tiUe oi said premises, together with interest on said sums
at .._..11~ percent per annum until paid, and this instrument shall stand as security therefore.
9. That in case oi default, at the option of the MORTGAGES, and without noUce to said MORTGAGOR, said MORT-
GAGEE, as agent for said MORTGAGOR, may ask. d~nand. elect and receive all the rents and pro8ts of t6e mortgage premises ~
as may or then thereaiter be due or owing to said MOATGAGOA. giving notice o! its intention to collect and receive such rents 3
to s~lch tenants~ occupiers or lessees oi said mortgaged premises, and appaying the same upon the amount due hereund~r, and
in such event, said MORTGAGOR shall be deemed to have assigned and transferred auch rents and pm6ts to said MOATGAGEE
as sdditional security for the pertorn?ance oi the covenants in this mortgage contained, until the indebtedness secured bq this
mortgage is fully paid and satis8ed. In the event rents are collected by the MORTGAGEE there may be a reasonable commis- ,
sion tor the mana8einent oi said pmperty charBed. and MOATGAGSE may procure liability and casualty insurance pollciea and
charge the cost thereoi to t6e MORTGAGOIi.
10. That should said premises be sold under proceedin~s in foreclosure or otherwise and the proceeda o! such sale be
insu~cient to satisiy MORTGAGEE'S claim hereunder~ then MOATGAGEE may reeover a persensl iodsemeat sssimt MORT-
GAGOA for any balance due MORTGAGEE. In any proceedin8s to forecloae thLs mortgage. MORTGAGEE shall be entltled to
s Beeeiver to collect the rents and proSta irom We mortgaged premises reBardless af tt?e solvenry or insolvency oi the MORT-
GACOR or o! tbe then ownera of the premises and regardless of the adequacy or inadequacy o! the secudty.
11. Tdat the death of the MOATGAGOA or any owner oi said mortgaged premiaes shall at the option oi the MOATGA-
GEE. make the entire uapaid balance due and payable.
12. That MOBTGAGOA shall comply with the Constitution and By-Laws of MORTGAGEE as they now are or may here-
aiter be amended, and which the p~'ti~s hereto agree are to become a part oi this tnortga8e.
13. That fallure to e:ercise any of the rights or options hereia contained or found in tbe ConatituUon or By-Laws of
MORTGAGEE, shall not rnnstitute s waiver oi the right to eaercise the same in the event of any subsequent default or defaults. ~
14. That the covenants herein oontained shall bind. and the beneSts and advantages shall inure to the respective heiis,
exer.~tors, administrators, succeasors and assigns oi the parties hereto. and the MORTGAGEE shall have the same rights against
the successor in interest of the MORTGAGOR, including the ri8ht to a deflciency judgment, aa it haa against the original
MOftTGAGOA. Whenever used. the singular number shall include the plural, the plural the aingular. and the use oi any geader
sha ~ ~ include all genders.
PAOVIDED, NEVERTHELE.SS, that ii MORTGAGOR shall faithlully periorm all tt?e rnvenants and rnnditiona set forth
hercia and shall gay or cause to be paid his certain Promissory Note oi even date herewitb, which MOBTGAGOR has ezecuted
in favor oi MORTGAGEE as evidenced by tbe loan advanced to said MORTGAGOA, according W ita tenor a~d etiect, then these '
preaenta shall be void; otherwiae to remain in full force and eHect• f
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