HomeMy WebLinkAbout2365 )O. '!'i?e ;inrt;;a ;.~c:, by :~n.• ul it~: r~~:r~?t~ ~~r representati~~es. sh.1t1 have thar
Y i~~lll L~~ i ns~~~~~•t I 1?~• IIM~'t~;A~.ly) ~•r~~~•rrl y( 1'MR t ~tn~ CU t{~.• 1t :111v ~rasonablr
t~~?~~r ut th~• ~Iny. Shauld thc uN.r~ ~;.r~~yl ~•r~i~rrty~ ~~r .~uy ~?.~rt tix~rrol ~ At am
~ ir~c• r~~~~ni rr lusp~~rl ion, r~~~~:~ i[-. ~:trr ar at tr~it io~ .~1 Am• k I~~~l .~r ~~i~tui r~~ol
~~r~~vi~l• 1~~• tl~(9 Mc?rl~;e{~~• t~s ~!~•1~•iwiiu•~1 b~~ l.f~~` *iurt,:a,•er i~~ itF ~ol~` di:s: ra~-
t iun~ th~~ Fk,r~;;a};ec n~ay~ nitcr ~~o~i~~.- thr ?brtl;a±;ot~~ .:it~•r ur cause cntr~
to h~ :~a.~dr npon tl~e mortf;at:c~.1 property arni inspect. rcpair, protcct, car.~ tor
or ~n.-~ i nta i n suci~ {~roperty, as tl~o M~orttia~;~e uiay in its sole discretion dccm
ncccssary, and may pay all amounts of noney therefor, a8 the Mort~agee osy in
its solc discretion deem necessary.
11. The principal amuuiit owin,; on the Note together with interest thercon
and all other charges, as thercin ~~rovided, and all other amounts of ~aoneq
aowit1r; b? the Mortgafior to the 1?brtgagee pursuant to arnf sccured by this ~
Mort~ a;;e, shall iasnediately become due and payable aithout notice or dema~d
upon the appointment of a receiver or liquidator, whether voluntary or ia-
volunta:y, for the Mortga~;or or any of the property of the riortganor, or upon
the filin~ oE a petition by or sEsinst the t~Isor[ga~or under the provisions of
any State insolvency law, or uncler the provisians of th~ Eankruptcy Act of
lE~:~, a, amcnde~i, or upon tise -nakin;~ Uy the Mort~a~or of an assi~n.--~en: for the
benefi t ut' thr Mortga;;or's creclitors Tt~e Hort~ag~~e is a~+thorized to ~lecl~:e,
at its o4~tion, all or . iy part of such incleb~edness i~~~~edia~ely due and l~ayable
u~on t~~c happenin~ of any of C:3e follo~~in~ t=ver:rs:
(a) Pai l~ire tn ~.ay cht~ 3mos~r.* ~f a~~ i:~stallment of princi~al and
3nc~rf~st, or or.her cl.~r~;es payal~le on the Note, which sh~~ll have
hecomc duc, prior to [he due d~te of the nexL' such >>istallment;
(b) Nonperf~~rn~anc~ by ~he ~:l);'LvdgJl^ of any covenant, agreement, te:-m
or coi~lition ~f this tiortga~e, or ef ci-c_ Note (eteept as c+thervise
provided in subdivisian (a) h•~reof) or af any other agreenent heretofore,
2lerewii.h or hereafter ma3e by tce !".ortgagor wit~ the rlor[gagee in con-
nection With. such tndebrednes§, ?fter the Mortgagor 1:as been ~;i~en due
:ioti:e by ~he Mortgagee oL sa~h nonperformance;
(c) F•; i ture of the M~rtgagor to perfo~r. ~ny cc~: ~ ns~: , a~ree~ant , term
r~.- con~!itinn in ar.y instru~r:ent crcatinti a Iien ~~~un ttsr ~x~rt~a~ed pro-
f ~~cr~y. or azi}• Fart t`:crcof , wt~sch shall have priorit~• ovcr the lien ~f
';~i: :inrt ;a•,e;
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~
~ ;'Le Mott~;a~~c':; ~iisrv~~~•~y nf the >!«rt~a~o~'s tailare in any appli-
~ c:e[i.on ~f thA 'i~~rt~,a,~ot t~: r~,~ Mort~;a~ee to disclose any fact ~ee~ecl by
~ ti:e ~lortra~ee :~E :~~:it~cial, o: nf the making tnerein, or in anv of the
:.-:~ec^~ents e~nt^rec' int~> bJ the t:ort~agor a+it!~ t-i:e NortUag.ce (inci~~3in~,
UUt liGC 12{:1lCE!~ CO~ t~~• NoCc :,n:i C~LS Mc~rt~;a€Q~ ~~r ~f1~1 I'.:1ST~'~" -~''dCl•):1
hy, :~r. t,e~ialC or tor tl~~ hc~:i:fi~. of tne Mcrt~a;or•
~
Ti e~ale, iease or othe~ trartsfer of any "r~ o-' :•~ture of tne
;1 •rt;;aged propert-;~, or anv ~~art t~iereof, ~ri ~i?ou[ [~c• nrior :ari ~ten conser.t
of L~~e ;~bort~a~ee;
Ti~e '•inrt;;ak~e~:; failure to e>:erci .e : :~y of ~ [s righLS h~re=.~:~,lei ••s' ~on-
::t i r..te a waiver thereof . r,l l ti~c c:vrn[s in tLis Para;rar•': ~•:~uie-a; c:pon tlt~
hap; eiii.tZ; ~1 an~ of utiich t}ic• tio_~~ ~i;all become, or r~ay bc e'cclar~ : tu i~e.
ir.u~e~liatclv due and pa,•~hle zre in tl~~s Mort ;a~ e called "e~cnrs o[ ~'~fallt."
'i~+-t~,a~e~ may from tir.ee tc, t.i:ne cuce each default ~~ndc~r an~ cove:~an[
~ n ~ a~;: rf.~~en~ i n any ins r rument c r~a t i n~ a 1 ien upon the mortza~ed propt~r[y, or
~ ;~•,y T~r?- reof , uhi ^i~ snal l iiavr_ ,~r +ori t~~ ove: Che lier~ of tt,is Hortga~e, to
' S?jc:i e~:i-,nt as tiic Mor~~a~e~~ r.:ay e::cl~~sively determine, and ea-~h a~-.uunL paid,
s f am•, 7~~• ti:e Mortgagee to cure any suc4• defaul[ shnti be ~aid by the Mort~agor
c.~ ~i~e ::ort;a~ee, and the ?•brtf
a~,ee shal i also hecome subro~ated to ~+ha[ever
~ :-ij,i~t:c =~i~•_ l~c~l+'er oi ~i:e arior li~_n :ni~,t~t F:ave +mder such '~:sLr~sncnt.
~ : . .l~t er ! i~~ hap~~ni~i ; c,?~ an_: ~lefa~~l t hereur.r'ec, : •'.ort~a~,,r si~a i i ,
uJ~on ~~~.~-.:~n_' uf ::hr i~or~o-;ec, s~~r ~?~~'~rr pr+ssessic~ oi [i~~ -~urt ~a•,c:i , r~~re~'t~~
~O l~lE iiUl'i,'_'8~,1'e~ 81t~ C~.C ~t01'C~a;:[ct: f..Fi: e(1CCT S!_~`i` .^T(`I1PCC~'~ aldt`I('~ C~1P c3RC
:~n-i •-~l t~~~ all tl~e r~r!~~_:: t~,erefroir uhici: ar~ dc:~ or _o oecu,re f=n; , a~:=.i a,~pi~~
t:'f` :.I:t~~- pa~•r?cct dl: Ct18T'~CS .iflt. °X~E'f15E5~ C~[l a('Ct1t1G~ t~~ Z~IP LM~ChtC~~~
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