HomeMy WebLinkAbout1994 _ s ~
p~~te~~?noes Iherduoto belun~in~ or in any-
TOpZ'PeBt N~ITN all and uiagul+?c tha tenemeot+~ be~'e~~l~u? i~/~ ht. ti11e. iaterest ~ad all o4im
w+isse thereunto ~pP~w~ ~?d the reats. ixaues and pw ts t#~ ~t?d slw ~'tDe~ cat~te. riB
•ad demund wh~Noever. ~s vrell in IaM ~s ia eqahi
~ ~ad bene~A~ d
nv~ed te~~om (1)~ee~o~ps ~iRoK~a pua~id ~uri~Y ~ P~uos
(a) AU reats. ProBUt reveaues. roy~ltie~, nt
ot ths wil otherrire (3) o~l~ ~ or miaer~l leases d the pe~emiees or ~y P~~ thereot now existing or bsre~tter made. with
ri~ht to reesive aad reoeiPt tbere(or and app~y the a~ms ta the iadebtednew oeoured 1~ereby eitber bst°'"° °t v~ ~RY d~+?ult
hereuader, ~nd Mort~ee m~y? demand. aue tor aad reoo~et ~ suoh P,~Y w~thactun~der
letisb°es or tenaae~'~s ow e~iostins o~r
ocher reata. isaua sad M'oats d the P~~ hom time to tima aooruw8~
a~ to Mor r. how ve~ ao bag as Mort~~or n~ not ia detault Lereuader? tbe risbL b reoeive aud
hereaftor ce~ented, reee~vi ~(3~ ,b~,
retaia the rents. isrues aad pro y eals here~tter mude resultine trom oondema~tion prx~ or tl?e
(b) All ~uclgments. ~wsrds~Q( dsma~ea u~4 (whether b ouah
~ p~ ~ pr~uer or aqy P~'~ undar the powe~ ot emineat dowaiA. or for ~n,Y bts s~purtenant ~ereto.
tbe~t. or to ~?RY ~
Wri1~ or otherwiae) to the proqi~aes or the imProYeo~dAf~s thereoa or any part .
IlfO~IldU1~ iQY aM~!'d toc eh~b a[ gi~ade d sta~eeta Mort troaun herebs w~ti ~ is ~~ar~dsd inMib
~
e~~p~a~
to exeoub ~nd de4ver valid ~?oquitt~aoes tor. wd to i?p ot ~ll a[ iW iaoludwg oosts +?~d sttoraeys' ee0. oa, tbe
suah ~ums or aqj? Pare thee~eot ~o reoeived. dtee~ tbe p~m t the~reo~ so reoe?red
indebLedness ~eou~ed be~'~Y ~~~II~ it eko~~. or, ~t its option. e entire smouat or aaY P~
m~y bs rele~eea. ~
TO UA~E AND 'PO AOLD the ~bOV~ ~ranted an~ de~oribed peemises to MortB+~gea. itr suooeeeors wdaau~n~ forsver.
and Mortgagor doee hereby fu~y ~vurant thati a
M~~ ~
i oerhtaia ~om'~i~or9 aa'•~ee
~bo e
d~eson'b d
dan
s~h~ll
~vhomaoever; P~'~vided vwqys tfi~?t ~t M t8a~ MY .
per[orm all other ooveaanta ~ad oonditio~
~eaid ~ee~6era
y po~'ted
sdh~ll o~
ei r
and be ~ull~iwd~ void ~~oa Wee~eo[,
t~~ ~ m~~ with Mo~tB+~gee +~s tollo~vs:
Mort~+~wr tnrther eo~ea~u?is ~nd y~rees
1. To P+1Y ~ sams ~nd~qq wterest seoured hereby when due, as provided tor in saidp~omissory note snd ~0.v8 tes~
eactensaa or mbdl8oation"tLereo? snd in Lhis mort8aes, oU woh s~.ma to bs Pt~Y~ble in Lwfudl
m~onatYe ~ ti~e Uaited
Amerios st Mort~agee'a atoree~id prineipai o~oe. or st woh otLer pLee as Mott~yCeB~m!7 .__.~O_4•
~menta ot ~?nY tYPe or nwture and
2 To p~y ~ron due. ~nd e~ehoutr~ quiring sng notioe [cum Mortgagee: sl1 t~ces•
other ch levied or ~?sseesed a8+?inst tbe Premi~e° hereby eaoumbered and P~u~ ~~p~ tb~or upon dewand. To
~s
i~~u~p~y snd diac6ar'6e sny clsim. lien or enoumbrance againat suoL premises whioh msy be or beoome supenor to
this mortgage snd to perm~t no detsult or delinqueaoy on any ot6er l~en. enoumbrsnoe or oharRe ag?ainst suoL RrBmisea.
3. V required bp Mort8~6~. to eJso make monthlp deposits ~riW Mor~agee~ in ~ aon-interest be~esnB aeoount, ~ther
w*it6 aad in addition to intereet aadp~?
cipai. ot s sum equal to one-tw+elft6 d t6e
Y~i
in
u~
t
hereo .n eThe amount o~t
be levied a~ainst the Premisea. u?d (ii so *equired) Qn~t~el[th of the yearlYprem
' suoh taues. ae~eetmenta and premiums. ~rhen unknown, shaU be eslimsted by Mortga~ee. 8nah deposita sh~?ll be used by Mortr
gagee to pty aaeh tas~. s~~~ ~Qd P~ums when due. Aqy insu~wenap or auoh ~oeount to ~~~!n
~
due ahsil bo P~ by M r~~ortg~es on demand. U. by reas~n ot ~oy de~wlt by Mortgagor tunds in
~hia mortgaaa M~a~ ~ s~ ~ hereby to be due andpays
bla. M~~8+~8eem~y f~e~ sPP19 ~Y
said aoooun! against the entire indebtedneas aeonred hereby. The entoroesb~7'~ty d the oovenwts rel~ting
snd insuranee preminme be~ein othenriae provided sh~U noi be affeoted ezoeP~ in so tar aa those obligsdona h~?ve been mat by
eomplianoe wi~h lhis parag~'aPh. Mortgagee m~y trom time to time st ii8 opkoa Naive. wd atter any auoh ~vsiver r~aabte.
any or all pmvisioas hereo[ requirinS suah depomle. bY notioe to Mort¢~gor ia wntiag• , W1We aqY auoh w+aiver is in effeo0
I~iortgsgo* stiaA P~,Y t~ses, e~sesements.~nd insur~noe prdmiums as hee+ein elsewhere Provided.
4. To pmmptly psy aU t~uces and asaesamenta asssessecl ur levied under and by virtue ot anY atate. jede~al~ or munioipel
t-Mottglgbe upon thia mortguee or the ~debt hereby secnredt~ or-upon ita- interest
Is~+'or'regulstion' herestter p~.4~d. ":gsins
under this ~nort8+g8. W'oo~ded l~o~eoe~'. ~'°t the total amount ao pe?id for sny auoh isxee pursusnt to th~s psrsgraPh k~e~her
with the intecest pe?)sble on ssid indebtedn~s shall not exoeed the h~'
heBt lsw[nl rate of interee~t in Floric~+ t~nd pro ~ u
further that in t6e event of the passa8e ot sny suoh !sw or t~egulstion, the ~?tire indebtedncffiss secured by thia mortBage
thereup~a become inw~criiately. due and p0.Yablea?t_t~he option of Murtga~Cee.
5. To keep the premi~ insured against losa or damage by Sre. the perils against a hioh insursnae-?s s~orded hy ~htt Eztewiect
Coverage Endorsemen0. and such other ri.4lcs and petils ais Mortgagee, in ~tn dis~ret~on msp uire. The poliey or policies oi
t e premises u'e aituated. shatl
such insurance shall be in the torm in general nse trom time to time in the locx~lily in v?'2uoh nies s roved by Mort-
be in suoh smouat as Mortgsgee i??sY reasonibly require, ahall tje issued by a compuny P~ PP
gagee, snd ahall c~ntain the Standard Mortga~ee Clause with loss paysble to Mortgagee. Whetiever required by Mor~g~ee
such polioic+s. snd sbstrsote and other ti1Je endence. shall be delivered i~m b Mor~y t~ a on tke indebt,eclnt e~
see~sureyd hereby
amounts receive~ by~DlurtgsBce under ury ot such policies msy be sppl~
in such nu?nner ss Mortgagee ms~ . m its_sole discretinu~
1k,on nor thohralesp se ot sny suc~mountanshall cure or wsrive anv
or anp pa~t thereof m~y be relessetl. Ne~ther the spp
defsull. Upon exeroise ot Lhe Poae* ot xale given in this mortgage or otheracq
uisition ot the~pre~m ~~Y P~~ th~'@Ot bv
biortgagee, auch'policies, sbstraats u?d ~itle evidenpe ahsll.become tJ?e sbsolute propertY ~
6. To flrst obtsin the written oonsen~ o[ M~tgagee ench oonsent to"be granted or.~vil~hhekl ~t the sole dis~etion oi suah
li Mortgagee, beiore (s) removin8 or demoliahinB b-wldin8 now or heredter erected on the premisee. (b) sltering the arran4C~
ment. design or struetural chan~ater thereot, (o) ~~4Y ~ Wlu°h iavolve the removd of strueEwsl parta or the ezposw'e
~ o[ tbe interioc o[ suoh building to the element+, or t) ezoePi for domeBtia purpoee0. outtin6 or removing or permitting the
outting and removd ot eu?y tsees or timber on Ehe praa?ises•
7. To maintsin prcmisee in good ooaditi°° °ad ~psu ~auding but not limited to the makinS of auah repairs as MortgaBee
msy from time to time determine to be neoesswry ior Lhe pceeervation of the Preu?~a a~d b not oommit nor permit uny ~aete
thereo[.
8. To oompl~r ~vit~ sll bws. ordinsnoes. regulationa. oovensnts, oonditions and restrictions sffeotinB the premises. snd not
to suff~ or permit sqv violstion thereat. .
9. U Mortgsgor ts~la to ~SY sny claim, lien or encumbranoe which is superior to this mortgsge. or. when due, any taz or
assessment or insurence prer~uum. or to keep the premiYes in rep~'v. or shall oommit or permit wsste. or ?f there be commenced
any sution or ~roceediag affeoUng the prem~see or the title tion or t(h~~'tt~t M~or~~~ stth~ a'piio
olu~~~vtaaid
L'm~ted t,o, emment dumain snd bsnkruptcy or reorBanizs
claim, lien, encumbraaee, ta?:. saseasment or preminm. with rig t of sabrogstwn thereunder. msy make such reps~rs and
take such stepa ~sit deems advisable to pdevent or cnre such vraste, and ms~ appear in any suah scstion or proceedinq and
retain counsel therein, and take euoh action therein ae Mort~a~ee deems aciv~asble. and for any of said purposes biortgagee
msy advsnae suoh sums of moneyi including all costs, reasonanab~e attorney's feen and other itema of eapense as it deema neces'
sary. Mortgagee shall be the sole ~udg~e o[ tbe legality, validity and priority ot any such claim. lien.~~u o~
~ held aooo~
ment and premium, snd ot the amount necee.asry to bepaud in satistact~on thereof. Mortgagec+ or ezpense
able for any delay in mAking any such psyment, whieh delay msy result in any additionsl intetest, casts. che?rgea
otherwise.
10. Mortgaga~r will pe~y to Mortgagee, immedistely snd without demand, all suma ot moneq advsnoed by Mortgag~ee pwsw~at
to this mortgag~e, inclucl~ g all oosta, ressonsble attorney'8 fees aad other items ot expense, together will' interest on esoh such
advanoement ~t the nte of ten Per oent. (10%) P~ ~num. snd all suah sums aad interest thereon ahsll be secnr+ed hereby
11. All snms d money aeaured hereby sLall be p~Ysble without any reliei whstever trom sny vslua~ion or sppzaisement lswe.
12. It detsult be mede in MYm~~ ~~Y ~~m~t °r pr~n~~ps1 ~r ~?~~t~ ot said note or any part thereot wben due, or
in payment, ~vhen due, o[ any other sum aeoured hereby, or in per[ornunoe o[ an~ of Mortgagor'a obligstion~s. ~
v~
op p
agreementa hereunder. i?11 d the tndebtednees aeeured herebY shsll beoome and be tmmedistelY due and W?3'+b avail itself of
~ ~vaived, in w~hioh event Mortgagee m~4Y
o[ MortgaBee, without notice ot demand ~vhioh are hereby ezPressbfYe torecloeed with sll ri8hts snd remedies afforded by the
sll rights snd remedie~ s! la~v or in equitq, and thie mortgage msY
lawe ot Flanda and Mortg~gor aha11 psy all c~oeta, ch+rSes and e:penses thereof. including s reaeonsble attorne9~e tee.
13. It defwlt be made in psyment, when due, ot sqy indebtedness seoured hereby, or in pedormanoe ot anY d Mortgagor's
obligations, eovenanta or a8reements hereunder:
(s) 11ilortgagee is suthorizea st sny time. vrithout notioe, in its eole diseretion to eater upoa and take possession ot
the premises or ai?y part thered. t° Per~orm +aY s~~ Mortgagee deems nee~ssrY o~~P~OPer t° ~°°~erye the seourity and to
colleot and raoeive all r~ta, issues and pro8te thereot. tncluding thoee p~et due as w~e as thoae woruin8 theresfter. ~nd
~b~ Mortgagee ahsll be entatled, as s matter ot atrict right and ~ichou! re~ai'd to the value or oocupaaay d the seaurit .
to 6ave s reoetve~ sppo?ated to enter npon and take poseeseion ot the premises. ooueat the rents snd pmSts therefrom and spp~
the aame as t6e oourL m~~y direac. suah reoeiver t° h?ve all the rights and po~rera permitted under th~•'w~sy
~do~~~
In either suah caee Mortga¢ee or the reoeiver m~y also take poaeession d, and [or theee P~P~ ~ea~eot. The ezpense
property eonte,ined in the premises az?d used by Mortfagor in the rentsl or le~sing thered or any pert
(mcludu~g reoeiver's feee. oounsel fees. eoste aqd aeent e oompeasation) incurred;pw'a~) PP1Y ~eh rente, ~issu~es tan
p
8te
be aeeured 6ereby. M tgagee shall (dter payment ot all ooaLs and ezPe~ses ~n
reaeived by it on t'•e in
de
b t
e d neas s
e o u r'
e d 6ereby in such order as Mortgagee detetminee. The n
g
ht to eater and U~ke poesese~on
~~d ~p~~,y~ y~ msnage u?d operate the asme, and to ooUeot t6e renta, ?sauee and pro8ts t ti~reof. ~vhe~her bq s receiver or
othenv~e, ahsU be oumulstive toany ~other rig6i or r~nedy hereunder or aRorded by bw~ snd ms?y be ezercised oonuurrently
th~ewith or independen~~? thereof. Mortg~gee ehall be lisble to aooount on~y for suau renta. iasues aud proflta ~otua119 reoei~ed
~ M°`~. °R ~27 ~i992
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