HomeMy WebLinkAbout2580 hN~~n~1~N Wor~ded. -
6. To prio~m. com~ly w~~h ~nd ab~de by a~cA and •Yay s~~pula~~on, ay~t~~n~, cond~nan and cov~n~nt ia aud pomn~ay mN Md dkd titl 1atA.
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7. 1! ~r o1 ~M sunr of nioMY Mnin ~dNr~d w b~ no1 powiW~Y wd hrlhi Wid w~~Ain Mirhl (~0) d~p Mll •IIM rM aa~ ?~w~~llp Mcoiw~ d» .nd ar~b~•.
a il ~~A ~nd wMY ~M ~tipubfiau. w~~~~n. cond~tion~. ~nd cow~+«+b o1 ~~iJ wowuuwY noN ~nd Mi~ ~non9~~. w e+Nw. ~r~ eat d~H P+~(a~4 coewt~~d
witi~ ~nd ~bid~d Oy. tM ~ypr~W~~ ~u~n ~nentioerd in ~~~d womiuaY ~ slwll Eecan~ dw ~nd P+Y~~ fa}Awi~A er M~~af?a u~M op~~on of ~M AAor~y~p~~.
n hrlly vid coawMNN M if aid ~9Wp~4 sww of mon~y wW aip~eally s~ipul~t~d ro E~ ptid on tucl~ d~Y. ~nY~~Y. ~ sud pawiswry noN w MreM w ~M
conlr~ry notwilMNndinp. . -
e. To d~liva to u~d Mwtyage~. on w ~e(o~• March IS~A of ~xh y~ar, u. ~~c~ipts widenunq ~h~ Pav~~~ ol all I~w/ully impos~d uay fa ~M a«~~no
cal~nd~~ ys~r, and ro delivar ro s~:d Marflagte. ~eceipes tvidtouny tM paYmMt oi all IiMt for p~blic ~~*WOVtmenfi within nine?Y (901 daYS ~(ta IM s~m~ sM11
bKCme dw ~nd parabte. and fo p~Y a d~sc?+a.9~ w~~h~n nintly i90) d+ys ah~r dw dat~. ~ny +nd all yoven,m~n~~l Iw~es th~~ maY ~t m+d~ o~ ~M ^+a~9+9~d
propa~y, w+ eh~s mo.eqaq~ a note. o. in ~oy oMe~ w~y r„ul~~rg f~om tM Mu~9+9~ ~~d~r~dn~sf ~ecured by ~Ais mortqaqr, and i1 M~s condnan b~ eot comp~ied
with and pN(ormed, aa~d malgagee maY P+Y t~ch sum a sums which ~lulf become puf o( tM dtbt secwed by this mw~pa9~. +^d ~^«w~~ tM r~N of
~~a pa ce~t. (6"0l aa snnvm. wwb~e icm~•unwlly „nul psid or ~~~d Monp~~e n++y ~lect Mu said ma~yap~ debt tM~wpon becom~ dw +nd P+v+~ (atAwith.
9. It is fw~M* co+~nant~d ~nd ~9~~ bY u~d ~~~K ~Mt in ~M ~wnt of s fui~ b~~na inif~tvqd ~0 1a~cloa~ Mi~ n.or~p~q~. Nw Mw~WDN ?MII b~ ~ntifNd a
~ppM H~ny p~edirq sucA ior~clww~ wit a tM eaM Mvinq iwi~diction tAKwf iw eM ~ppae~nro+ ol • r~c~iwr o1 all a~d sinqubr tM mwty+p~d poW~hr.
u~d oi ~N Nr r~nM. tncoew~, potiM. i~w~s ~nd r~wnwa Narwl, iran wM~w~wr ~owc• da~wd: ~nd M~~~wu~ ~t is Mr~Dp •ipes~h coveMnud and ~pr«d
rAat tM eowf ~hall iwMwi~A ppoim a r~e~iva of wid nwrrp~y~d p~op~ry. ~II ~nd ~iepular. ~nd of ~uch renp. incaw~s. p~ofib, i~~w~ snd r~wnw N~w1. fraw
wAHSO~vw soura dKived. wid? tM uswl pow«s w~d duti„ oi nc~iwn in lik~ uus: and such ~ppo•nt~nen~ aMll b~ ~d~ bY ~uch cax~ ~s ~~nN o1 fhict ~~qlu
a ~M Mony~pN. in wcc~uati ~+i rw~a«+ueivw a uu9~. ~nd wiMout r~iKenc~ ~o N» ~d~v~++~Y a? in~dpu~cY o1 tM wlw o1 tM w~fY ?~~Y ~9+4~d.
w w th~ wlv~ncY « inwM~CY of ~M MoNW9a. ~nd tM~ s~ch r~n~. Profifi. inco~. issws w~d nv~nuw ~MII b~ ~ppli~d by sud~ nc~iwr q ~M P+Y~n~ of NN
~nprtp~y~ in~Af~deMSM tO~b M~d t~Mr9M. Kewdinp q IM OrdM Of ~ud~ eOUrt. . «
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10. If atl u any part of th~ Propaty a an infe~at ~Aer~in is wld a transfsrred bY ~~9+9a w~thovt mwtyape~'s priw writqn cons~nt, •advdinp (a) tl+e +
creat~on of a t~en or e~cumbance subordinaN to this mor?9aq~, (b) ?h~ cre~tion of a pvrcMse moneY secwity inta~ft for ho~s~hold ~pp~~+~ca. (c) + t~+~~~K bY
devise w descent. w by operation of Isw upan the de+th o( a io~~t ten~nt, w(d) tM gr~M of any kssehold i~tere~t of thrN years or less not cont+in~n9 +n oPlion
ro p~rchase, mortqagee may, at its opt~on, dec~are all the wms sec~rcd by this mwt9aqe ta be ~mmedi~?e~y dve +nd wY+b~~• ~~v+9~ s~+~~ M`K s~h
opt~oo to xce~erate if, prior ro Me sals or trans(tr, ~nwly~yee +nd ~M M~s~ to whom the {uoperty is ro be so~d a tr~nsferred raxh syr~ement in writinp
rhat the credit of such p~rson ia s~t~ai~ctory to Mw?ya9e~ and tMt th~ inter~st par+ble on ths sums setwed ~Y this mw~p+9e sh+ll E~ at s~rch rate a~ AAorfya9ee
shall requesf.
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11. Th~t in ~M event ~M P~~is~s Mr~bY mwfp~p~d. a ~ny put tMr~of, sA~ll E~ cond~~d ~nd ~~k~n fa O~ie uN w~d~r IM PowK of ~nein~nt dan+in. ^
tl+~ MortWYN ihall Mv~ fM ~~d+? ro dwnand thd ~11 drw~9~+ ~w~rd~d for ~M Ukinp of w d~~a ro s~id Wwnis~a sl+~ll b~ Wid a N» Mor~W9M W M ~I» ~maN+t €
fhen u~P~id on Mi~ nqr~p~9~ ~nd H tM aWiOn o1 11M MOrf9~9» ~Y b~ WP~~~d u0~ ~ WY~Mnb (u/ paY~bN 11Mr~on-
12. Th~ mwtWVa b~nd~ h:ms~lf nof w~r~ct a PM~ni~ to b~ erM~d My n~w buildirq~ on ~M w~nis~s M~~:n mw~~+qd a ro ~dd ~o w D~+init a b~ ~dd~d
to any of 1!w ~sipinp impovMn~n~s d~uwn a mab wnr ch+np~s w~h~utions in aid impove~nb wAich ~na?Nidly ch~ny~ tM um~ a eM uu Nwreof. w~~Aour
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rh~ wrif~M cons~nt of th~ Mw~9~9N. +nd in IM ~wnt of ~nr vat~Gon a~nemW ro v:otau this sGp~l~~ion tAis mw~p~q~ ~nd ~II swm secw~d Mr~bY sh~ll in?
m~d;~k~y p~cq~y dw and colbctibb ~f tM opfion oi tM Mortp~pN-
1~. It ia spaifically ayrNd th~t tim~ is of ~M ess~nc~ of fhi~ tontrxt and tMt no w~nre~ of ~nY oa•iqa~ia+ Mrweda w o! tM ob~ipN:o~ s~cwed hereby shall ~ny
rirr» b~ MW w b~ • w~iva+ oi tM t~rnu M*~ol or of tM iiunum~nt secw~d her~by. ;
14. It (onclo~w~ o~xe~nps of any a~ca~d n+w~p+y~ a s~co~d aust ded or ~nY i~niw GM of eny kind sAould b~ im~it~nd. tM Ma~p~see ~r, a in oW~a~.
lo
imm~di~»y or tMr~~NN d~tlu~ this mWlp~~ and ~M ind~bqdrrss s~cwed Mr~bY d~» ~nd Wv~a~ fatAwith. ~nd ~y M if~ op~ion p:x~ed ro(a~tloae this
mortp~p~. '
1S. To fM ~i»nt oi ~M ind~Medews~ of ~he lY1oN9~~ w NN Mw~y~qs~ dncr~bed herein or sec~r~d Aerebr rM Mony~pe~ is herebr w~roya~ed ~o tM Gen or ;
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1~~ns and to ~M riphts of tM ownNS and holders tlmeof of ~ach ~nd w«y mw~yag~ lien « aMr incw~b~w~c~ on N» ~+nd dua~Md Iw~~in whech is p~id and/a ~
satisii~d in wlwl~ w in put oW of th~ prxe~ds o( tM loan dcur~b~d her~in w secured h~reby, and tM r~sp~ctiw liens of s~:d matq~9es, I~~n~ or orher ~ncumbrances
aMI! b~ and tM. ~a~e~ ~~d ~+cA o( than hereby is psurved and sMll psis to ~nd b~ h~~d bv ~~~9+ON M+Nn ~s secw'•ty iw tM indeb»dness to tM Mw~qa9N f
h~ni~ dacrib~d u hneby secwed, to tAt sam~ est~nt th~l it would Mw been pr~serv~d snd wa,~d Asv~ beeo P+sud ro ind bee~ h~~d by tM Mwtp~ye~ Md it been '3
duly ~nd ~pulnh ~asiyned, u~nsiNred. sN over ~nd ddiver~ ueNO tM Mortqaqee by sw+rat~ de~d of nsi~nt notwithstandinq tM f~n tMt tM swn~ m+Y be ~
satisf~~d a~d cancd{ed Of r~twd. it be~nq eM in~ention oF tM p+rti~s ?~treto th+t th~ f~m~ will b~ sst~sfi~d a~ c~ntel{~d of record by 'fie Ao~ders thereof at w tbwt ~
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rh~ ~une oi tA~ r~cadirg o~ tlns mortp~9e. "
16. To pay all and s~ngvtar the coses, charges and eapenus, incl~dinq lawyer's ites, reasonably incvrred w ps~d at sny time by the Mort9a9ee. because of `
fhe fa~lure of the AMrtgagor to perform, compty w~th and ab~de by exh and evrry the stipulations, agreements, conditions, and covenants of said promissory ~
nore and this deed, w eitlxr, and every s~ch payment sha~l bear intcrest from date st the rate prov~ded i~ ss~d P~~^~ssory note- ~
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17. WFwn +nY rna+nt oi moMY lo b~ Mid Ey th~ AAortW9or ~o tM Mort~qw under tF+~ terms Mr~of sMll b~ in d~f~uH, or should Me Mortyapw d~fwlt in g
any of rh~ other tenns, povisions or conditiaa of this Mw~p+qe, rhen and in thN us~ rF~e Mwty~ge~ shall Mw th~ ripht, wifhout not:c~ ~o +he Mwty+gw. to ~
collect u~d receiv~ iran ~nr Nnant or ksse~ of uid mwly+ped Wemisea 1M re~p, iuues +~d pro(its of tM rNl esqt~ hereby ~nwt9+9~d and rM ~mpovemenh Y
rhe~eo~. snd a ar. aa+« ?~c~ipts ~nd xqviftances tAKefw, n~d ~fqr p~Yinp all carrn~asiona of ~ny rental pent colkctiny tM s~ms, u~d any reason~bM attaney i
~ fces ~nd odrr ~tc~usry ~~PMS~s incwred in collMirg s~~. to ~pply 1M procecds of such collectiw~s ~pon anY indsbt~ss, o~l:yation o~ li~bility. of tl+e i
't Mortq~9or here~x~der. TM ripht qr~nted tl~e Maty~qee w~de~ this pu+g~~ph shs 11 b~ in add~t~on ro, snd shall no~ limit p restrict, any other riphr a riyhh yr+ntsd _
i tha Mwtp~yN ie this Matq~q~. .
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4 18. If tM Mortp~yws ~t the tim~ of mskinp this Mortya9t a subseqwnt thcr~to Uk~ ou1 li/~ insw~nt~ desi9natinq tM Mo~lpaye~ htrein aa ba+efiti~ry wilh a *
~ company spproved by the Mortq~~ w~uiqns polici~s to t!M Mwtqsge~ for th~ pwpoa~ o`. sccwiny fM mortp~ye lun herebY secwed. then tM Mwty~p~~ sMll
have M~ riqAt b pay arhr prnniwn ~ccruinq undr ssid policies. ~nd all swns so ~iRe*~ded shall b~ ~dded ~o ~nd becom~ • part of tM pr'~ncipal indebtedntsf sscursd ~
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~ by rhis Morrwq~ ~nd sh~ll be paid by fM Mor~y+9o. ro ~M Ma~ya~e i~ ~welw eqwl canecw~.re rrwnrhly installmenb, fM finr mond+lp imt~ll~wnf ~o b~ psid s~ a '
put oi end in ~ddition to tM ~w~+rhy wv~,a~+ dw ~+^dn th:s Mwtq~qe in tM f:rst ntendar monM followirq Mw •spendinq of said s~m. Su~h swr+a w ~~pe~ded ;
~ ~e be~r ~mtrest af tM r~te st wh~cA in+erest is p~ysbl~ Wu+ s~~d princip~l indebtedness ~+d ~M tie~ of Mis Matyaq~ sAa~~ eatenA to and sac~~~ ths suma so e:pended
royerhee wiM inter~st ~Mrwn u hert~nbefu~ p~v~d~d. ~
19. At mort9agee's optioe~, together with and in add~tion to the mw+thly Paymc~t of p~incipal and interest paysble under ~he te~ms of the note iK1Nft~
hereby, Mortgsyo? ahall pay to Moriqsgee exh monM untit said note is f~lly paid. onrtwelifh (1!14) of a s~m eq~al to the annual prem~um due for fire, exfended
cover~ge, and other hszard ~~surance covering the mw~g+ged proPerty, plus ta:es and sssessments ne,r dve w+ ?he mort9a9ed Droperty iatl as csTimated by Ahora
gagee) lefs all svms already pa~d therefw. and to ~e d~v~ded by the number of months to elavu pr~u to the date when svch taaes snd assessmenes shall become ,
delingvent. Said sums shall be held by Mortga9ee in trust or credited to the p~~nc~pal of the loan, to Day ss~d ins~rance, taaes, and assessments and shall be
aRD~~ld o~ the P+Y~^r the~eof w1~e~ d~e. Any e:cess held in trvsr by Mortgagee when ssed laan i: paid ~n full shali be paid to Mvrtgego~, or his aaaiQns, a
p.rsona~ represee+Htives. In the event of s defautr or fweclosure, saed svms he~d ~n truit msy be appl~ed on u+y costs of d~mages s~s~s~~ed in cu:~ecnon with
ihe collection of the nore aecured hereby whether by suit, iwectos~re, a otherw ise. lMo~t9agR way hom wme 'te' time• ar iq~ option wa~ve, and sfrer any avch
wa~ver, reinaUte any u all provis~ons hereof requiring s~ch deposits, by ~otice to Matgs9or in writing. Whle any sutb waiver is in effect, Mwtqa9or fhai~ paY ~
ra:es, usessmenes and insvrance premi~ms as herein elaewhcre prwided. ~ ~
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20, Mwt9sqor shall comply with the provisio~s of any lease, if th]s mutgage is on a IeauMtd. If fhis mwtgaye is on s condom~n~wn uni+, mortgagu sMll t
cerfwm sll of mortqagoi s ob~~9ations u~der the declaratio~ of condom~ni~m a masrer deed, the bylaws ~nd ~egulstions of ~he condom~nium project and con-
st:tuent doc~ments. Mortqagw further covenanb that he and the assoc~ation raponsible fp fhe operot~on of the cortdan~nium will observe stl of the o«~sions
of the sa~d declaratioo, snd any amendmen» thereto, and of the Condom~~~um Isw of the state, and will DerfMm all obli9anons tAereunder, and + hilure to do
so which is no~ cvred withio 30 days after notice given by the mortg+gee ro the mut9sga and the said assu~arion sba8 constitute a def~olt voder th~s mwt9+9e• .
Mwty~gw f~rttur specifKSlly covensnts, but not by way of iimitation, that he and the suoc~ation vrill observe sU of tAe provisicns of said declaration of condo-
minium ~elatiny to insuracce cover~qe-
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21. Martgagar f~rther covenants and agrees that st the req~est of Mutgagee to furnish a standard termi~e bond insuring sgsinst damsye bY ~nfestarion on '
~ ~he bvildings n~w or hereaiter Ixated on the mwtgaged p~oPerty, in such amounts and ~rm~, and with s~ch comWny a: spproved and reqvirod ~y Mor~y+9ee:
~ and in the evmt Mwtgsgw does not comply with this covenant Nbrtgagee shall have the same rights to obtain same as insurance coversge under corere~M
; 3 hcrcof.
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~ goa~ 2~8 2575
~~t (Signatures on Reverse Side)
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f...~ = L...._ . , 3 E~'~. ~