Loading...
HomeMy WebLinkAbout1270 together with all the tenements, heceditamenis. ptivlle~es and appurtenanc~es lhereunto t~to~ging or uny way appertaining, i~cludln~ all the buildin~s and Improvements which are now o~ hereatter may be erett~doa.said land and all flxiures of every nalure whlch are now or hereatter may be attached to or used in conneclion with said land. bulidfng or lmprovemenls, includ- in~. but aot by way ot limitation. sU heatin~, plumbint and electrical hxtuces. heat regulators. hydrostats. hot water heaters. oil burners. stokers. turnaces. window shades. swnin~s. atorm and screen sashes and doora and air conditioning appacatus, and all t~ rents. bsses sni P~b wbleh oss srYe ~e be Lai theretrom: Aad aA the Estate, Title aad Interest oi aaid MORTGAGOR, either in law or equily, of, in, anc~ tp the said premises. togelher wiW all the pr[vile~es tad appurteaances to the same belongin~; TO HAVE AND TO HOLD the aame to the only pmper use of the MORTGAGE$ lts auccesaors and assigns forever: and the MORTGAGOA dces hereby covenant wlth the MORTGAGEE that he is the lrue and lawiul owner of the said premisea with the above mentioned appurtenances and has tull power to convey the same. that the 11t1e so conveyed is CLSAR. FREE, and UNENCUMBERED. and furiher, that he dces warru?t and wiA defend the same against all claims of all persons whomsoever; PROVIDED. NBVERTHELE.SS. that wbeee~s aaid MORTGAGOR has received irom MORTGAGEE. tt~e swn oi Fifty Five Thousand Eight Hundred and no/100------------------------ 55,800.00--~ D°~lars. as a loan evidenced by a mort~aQe aote, the terma ot which are incorPonted herein by reference. which loan he hereby pmmises to repay wiW inter~st in advance in accordance with the terms of said mortgage note. Sald installments to be applled as ioAows: FIRST. To any advances for iasurance~ taxes. ntea and assessments~ and for delinquency charges and other authorized charges. SECOND. To interest on said loaa at 1he rate of 9 per cent per annum in advance~ to be charged on the unpaid monthly prlncipal balance. THIRD. To We unpaid principal of said loan; The maturity date oi said loan is May 11 . 2004 NOW. THE~SFOBB. the said MORTGAGOA. for himaeli and his heirs. executora. admiaistrators. auccessors and assigns, covenants and agrees with We said MORTGAGEBti its succesaot's and aasigns. as iollowa: 1. To pay to the MORTGAGEE wiW the above stipulated amount an additional amount to be estimated by the MORTGA- GEE to be su8fcient to enable said MORTGAGEE to pay taxes, as~sinepts and it~urance premiuma aa they become due on the premises herein described. An,Y deflcienMes oi such sddiUonal paYments shall be fortLwith deposited by the MORTGAGOR tit iLh lt:e ~iORTGAG~ s~~+n demand bp said MORTGAGE$. Z. To maintain ta~pmvements on said real estate in good rePair and condition to the satsifaction oi the MORTGAGEE. and rnmPly Prompt~y wltt? all laws, ordinances. reBulstions and requirements aHeMiuB tbe said morigaged premises. MORTGAGOR agrees that he will permit MORTGAGEE or i1s agents at all reasonable times to enter and make inspections oi the premises to ascertain a?hether or not the conditions and pmvisions hereoi are being complled wlth. If the mortgaged premises are altered, remodeled, destroyed or removed~ or a change in ownership occurs without U?e written conaent oi tbe MORTGAGEE. the balaace due and accrued interest thereon. together with any advances~ shall, at the option oi the MORTGAGEE become due and payable at once witlwut further notice and p~yment thereof be enforced in accordance with We Revised Code of Ohio and any amendments or supplements thereto. 3. That MORTGAGEE shall be entitled to receive any sums which have been or may be awarded MOATGAGOR for the condemnation oi the premises or any part thereof for pubIIc use and any sums which may be awarded MORTGAGOB for damages caused by public works or rnnstruMion on or near We premises• 4. To maintain insurance upon the above described premisea to We satisiaction of MORTGAGEE; and that sU policies of insurance sha11 be deposited wlth the MORTGAGEE and ahall contain a standard mortgage clause wilh loss payable to the MORTGAGEE as its interest may appear. • 5. That if this mortgage 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 oi interest may be increased or decreased on this loan. In the event the provisions of this paraBraph are invoked. any provisions ior prepayment penalty shall be waived and any increase or decrease in the interest rate will require a rnrrespondingly increased or decreased amount in monthly ~I payments. ~ That in the event of default in the payment of monthly installments when due or failure to periorm any of the con- ! ditions rnntained in ihis mortgage and in the mortgage note secured hereby, then the principal and accrued interes . together ~ with any advance secured by this instrument shall become immedialely due and payabie and the total shall bear percent interest irom the time of such default vtrithout further notice, said notice being hereby expressly waived. and at the option of the MORTGAGEE. foreclosure proceedin8s may be instituted. If said premises. or any part thereoi, are occupied by the MORTGAGOR, he will immediately after any such default, 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 (1 ) of the original amount of this mortgage monthly as long as he is in passession. 8. To p~y to the MORTGAGEE any and all sums. including coBts. and ezpenses. which MORTGAGEE may incur or ex- pend in any proceedlnBs to sustain the lien oi thia mortgage or its priority. or to defend against the Iiens or claims oi any person or persons assertln8 Priority to this instrumeat, or to reoover any indebtedness hereby secured. or which it may be necessary or pmpeF to prove the amount thereof. or for any abetract or extension oi title oi satd premiaea. together with interest on said sums at __..l percent per annum until paid. and tLis instrument shall stand as secudty therefore. 9. That in case oi deisult, at the option oi the MORTGAGE$ and without notice to said MOBTGAGOR, said MOAT- GAGEE. as agent for said MORTGAGOR. may ask. demand, elect and rrceive all the rents and pmflts of the morigage premises as may or then thereafter be due or owing to said ~OItTGAGOR, SivinB notice oi its intention to collect and receive such rents to s~ich tenants, occupiers or lessees of said mortBaBed pi^emises, and aPI~Y~B upon the amount due 'hereunder. and in such event~ said MORTGAGOA shall be deemed to have assigned and transferred such sents and Pmflts to said MOIiTGAGEE as sdditional security ior the pertormance oi the covenanta in thL4 mortgage contained, until the indebtedne~ serured b3'- this mortgage is fully paid and satisfled. In the event rents are colleMed by the MORTGAGEE there may be a ressonable commis- sion for We manaBement oi said property charSed, and MORTGAGEE may procure liability and caaualty insurance policiea and charge the cost thereot to the MOATGAGOR. 10. That sh~uld said premisea be sold under proceedin~s in toreclosure or otherwise snd We proceeds oi such sale be insu~cient to satisiy MORTGAGEE'S ciaim hereunder. then MORTGAGEE may reeevu s pessonsl fidsem~nt ~sslnst MORT- GAGOR for any balance due MORTGAGEE. In any proceedings to foreclose this mortgage, MORTGAGEE shall be entitled to s Beeeiver to collect the rents and pm5ts irom the mortgaged premises re8ardle~ oi the aolvenrq or insolvency oi the MORT- GAGOR or oi the then owners of the premises and regardlesa of the adequacy or inadequacy oi the ae~vdty. l l. That the death oi the MORTGAGOR or any owner oi said mortgaged premiaea shall at tbe opUon oi the MOATGA- GEE. make the entire unp~id balance due aad payable.. 12. That MORTGAGOR ahall comply wit1~ the Constitution and By-Laws oi MORTGAGEE as they now are or may here- a after be amended, and which the pariits hereW a8ree are to bec°me a p~rt of this mori8a8e. l3. That faIIure to exercise any of the rigbts or options herein contained or found in tbe ConstituUon or By-Laws of MORTGAGEE, shall not rnnstitute a waiver oi the rlght to exercise the same in the event oi any subsequent deisult or defaults. 14. That the covenants herein contained shall bind. and the beneflts and advantagea shall iaure to the respective heics. executors. adminiatrators, successon and aasigns oi t6e parties hereto, and the MORTGAGEE sLall have tbe same rights against the successor in interest oi the MOIiTGAGOR. including the riSht to a deScieneq ~ud~ment. as it has against the originsl MORTGAGOR. Whenever used. the singular number shall include the plural, the plural the singular, and the use of any gender sha~t include all gendera. PAOVIDED. NEVEATHELESS. that it MORTGAGOR shall faithfully periorm all the covenants and rnnditions set forth her~in and shall pay or cauae to be paid h1s cettain Promisaory Note oi even date herewith. which MOIiTGAGOA hes ezecuted in favor oi MOATGAGEE as evidenced b~ the loan advanced W ssid MOATGAGOR, accordin8 to its tenor and ese~t, tnen t6ese pre+ents shall be void; otherwise to remain in fuU force and eQect• 800K PM;E ~110 _ ~~..,a .,_v.a_ - ~ ~ = ~ ~~~~r : .