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HomeMy WebLinkAbout0708 6•~~cd ~yra~ Ihr \lu~l~;•~~;~' ILr d~ iw ,.u..l 1~~ ~~~I~y. ~K a~•.~u~.t 11~c I.u{~1~•~ lb~~~~vL ~~tu~~dr~ lh.il anv au~~~:mt w1~.?it~ by lLr \1at~a~;ut unnt IN• i~~~htc+l ~.o tl~i• iu~~u~;.~~;~~1 d~ I~t. Ih~~ \I~Ntt'.~t:~r ~hdl 1~.~~.• tl~r ~i~;hl lu ~i~i• nuat> iL~)~~ ~~utl~•n n~~l~a~• It? Iln• u~~~K~ ~~I tl~i• w~Nl- J;.1~1'lI ~~11'llll~~`~, ~l`~~1III111~ llll' ~`.1\1111'II I~I IIII' IIIIIt~~.l~~• lIl'I1~. NIII1 .~~~1~1~II IIII~'~~'~I .111~I l~l.ll~l~\ II ~tIlI1 1111~1t1' IN' ~1\-~'ll, ~III' ~.IIII lI~'III. ~~•~th .n cnu.l ~nb ii•,l .iud cl~:~~~i., •h.i~l IN. u~u~• d~~~•. {~.~~.~bk• .iu~l t,~ll~+lil~i~• .~l ll?r i~~p~~~Uw~ t~I saiJ h1Ut'1)' 1I:1)S aqtl u{xH~ ~Ic(ault iu wch ~~.~~ui~ ~H aU~•~ wch u~n~-l: ~i.~~~, 1h~c \IuN~;.~cr ~ua~ IN• unu~~~lcdcl~ (~N~~t k~rl. 1'i. l~h.~t J:d :~m• U~u~• in Il~r u~a~uvu ul t6i• \1~~rt};.~t;~c a I~YY•IYIY>hip tna>• lw~ n~r~ti~a~y to pnA~~c•! ll~c ~ncxt?;a~~d pnhx~ty, cK its nti~•, i•~u~•. ~~~ul~t., u~ pri~l~ar. ~~I~~~hr~ h~•(ui~• uz .~It~~ u~.?turil~• u( th~• i~K1rIN~+lu~rc In•~cl~y ~i+uu-~I, ~K at ll~r limc c~( or alti•~ thr incti• UU~uu ~"if~tut lu ~~dl~rl ~u~l~ iudrl~l~Yi~:r•c ur tu ~•ulurcr t6ic ~luriti.~~;~•, U~r \IiNt~;.~tit~• .I~all. as a ~a.~lle•~ u) ~tncl n~;ld .~~~+1 nyda~illcss o1 ~hi• ~.~tu~• ti~~• r~u~t?~.u;r ;~rurd~ I~N thr awu~u~l. dui• I~~K~•uiKle~ or xrur~•d hi~rcby, ur ~~f Ila• ,ul~~ ~x•~• ~~I au~• ~~.~rty Irx~u~l (ur IIK• pty- mrid ~~f ~uch ~~Kl~hl~+lu~y., h:~cc th~• rr:l~l !i? IL~• :1~~~~~NII~IUI'l1I on p.~rtc ap~~lK•aGun, a~Kl N'I~~NNd udicc to dll\tNN'. ~~y any (:outt I~aving ~nr~~~Iul~un. ul a Iti~.ti•~~i•~ In 1a1.~• c1~:~~Ct• ui. ui.~l~acr, pnv~vt•. ptulccl .~u~l ~~p~•i:d~• •.u~l ~~~~hH~t~. 1~~ i~~llril iln• u~nt~, i~•ui~+, p~nl~K atKl in~~NU.• tl~i•urit, tu ~u.~l~ all u~+~~•an' ~N n~~.Uul ~i pair., :nK~ tu pay :~I) la~rs aud a.cc~•nu•ntc :~C.au~l ~.IIII ~~fIMN'11C 11NI unn~ancc p~nniu~ac I~K n~.~~r.u~i~• thcr~~il. .~nd all~ r lh~• u~~ ~~t ~d lhe ~•r~x•~?~cs o~ N~e rrc~ti~c~~6ip :~ud u~atw~~~•~u~•id ul Ih~~ ~~~~~{x•rly !o ~pph• d~c t?t~ p(uc'~nls in nyluctiun t6~• IINItI11ltI11~+~ h~•~~•I~y .~y-uii~1 ur in cuch nuunM as lhc CiNUt chall du~~i. S~ii•1~ nr~y~t•r.lu ~ chall. at Ihe o~Niun u( !~{urt- ~;~gi~•, 17M1Illllll• unli) full paYui~•nl ut all .:e:nc 6~•~i•!~y ux~~ud~ ot until tNl~ to s.?itl puKx•rt~• shall liavr pa~ct~e~ hy sale mxteY this I?texigage. 1-1. 'fh:d 16~• s~Y•+uil~ I~~yi~m atxl h~•~~•hy p~m•~il~vl til?xll n~~t afl~rt M~t Ix• ::((ni~~l h~~ any ath~T cx (urth~Y sttitiirity taken tr lo bc I.~l.~~u I~x l6~• ~:UIII• IINICI/~~'tlUl'~S, (N :111)' ~~.If~ ~III•(~Yl(; :u~d t6~• s:~itl f~lort~a~;~x IuYi•h}• tbtil:ucc Ih:~t 11~~• p~~~~H•rty h~•ICIOIN'I~NC ~ncotioncd .~n~l cun~r~e~l tu ..ud \I~~~tc.~t;~r 1~K~u~ ~..ut uf :my pnyu~rt~• u~cnrJ, u.~~l ~x clainn~l 1?y 16i• s:uil I~t~~rt~.iy:~K ~c ea~yupt~d (rom (o~m1 .:~Ic nmli•r U~~• I.~~vc af thc St:dc o( FI~Ki~1:~. aud diKl.~in?c, wa~ccs. at?tl rcuounccs al) a~N1 c~•crp cL•~iu~ to eac~nption untler any hanesttstd r.~ynpliun or MhiY I.?..-s_ 15. S?eunld Ilu• ~I~Ht~at~~v~ :d an>• tiu~~• n¦p~rt io ~.rilinR U~at thc P1ort~:a~or rno[irn~ th~ ainau~t o( thc indobtecln~cs (or principal :uNI mlru•l s~r~n~+l I~y lluc \hr.1e.~,~• aial th~• ~•.~li~lil~• ~~1 !!?i• Ii~y~ h~~r~v~f. 11~~• \tiyttia~;ur n?vi•n:uit~ :uMI a~;rMS lo givc such H'rilh~n ccm[ir- ~u:dion ~vdhin lier da~-c allor nY~~•~~~1 .~u~h ~~•ritti-n rir~u~+i. o~ v?•ill~in s.ud ~xyine) nf t~ue~• to adci.~• ~hc \lurtgagoc in v?riting of any ~li.putc a~ t~~ t6c annNnd u[ Ih~• iiKl~~l.t~vlw~s si~c•un~l hrsc}~y or the valid~h• of l6is ~lurly;a~o, or thc lii•n ht-rad. If.. Th.N in Ihr ~•~i•u! tl~~• prcn~i~~+ h~•n•1.~ ~nutt~;al~~vL ~K any pa~t Ih~~r~Yd. shall Fx~ ~nnd~•nm~<l ur takrn uMl~t thc {x~N'cr oI rn~inrt?t dnui.un 16~• \I~ut•~.~_r~• cL.~l) l~a~•~• tl~~• ~it~l~t t~. tl~•m.u~l t6:d a!I da~ua~c~ a~~•.u~lirl (or thc laki~e~ o( tx iujnn• to ~aid pr~•~uiccs shall bc ~id to thi• \1~wtEa~ir u~. lo thc a~u~NU~I t6~•n ~nq~.~i~l ~Ni thi. \kut~;a~!e, an~l ~u~y lx• appli~d to any auuu lac~ pvyabk hcrc?mdcT. l:. Il ic a}~~nr) t~~.~l nMhiu, 6~•n~~u nwd:?iu~~~ n~~r an~• hauc:~cliun ~~•~.~Ur~ tl~iY~{o c~~~~~ ~N• tondnu~ ~.r s~~ opcr.dc as lo rc~p~ife thc \lo~l~:~~•nr ln p.~c inlcn-cl at ~ali• l•~~:~trr Ihan it ic nrnv ~:~~~•~nl in ~~~cl~ ~•a~~• t~~ ~ti~nt~:icl ~iK, ut tu ~na~.e aoy pa)'~nent o~ to do any a~t cY,n- . tran~ tu Li~v: Ih.d i{ :~n~~ cLuni-s iir. P~~~~•i~i~•m h~ t~•iu i unt:~:m~~ cyx•rali• ~rr ~~uiiW pt~hptY-li~~~•1?• tKn~r,d~~ lu iicv:?~ii~;dr t{~ii \1~Kt~;a~c M wi~~ \~~t~• in ~~la~l.• .K iu ~~.ut. Ihcn. •uch ~ Lu~.~~• :w~l ~nwi.i~~u. ~~~~I~ .L.~II I~c I~i•Id (tx n:?u~Ll. ac tho~~gh not h~•riyn ccintainccl. and thc rrniai~xiiT ot 16is \lorty~atec ch:ill rc~nain o~w•r.dic~• aiKl in IIIU I11rlY• :i1NI ~•H~rt. IR. In Ih~• ~~c~•nt ~~f am• d~•(.ndt or hmach ~.n Ih~~ ~..ut o( ~lnrlt;~~~~r h~rM~ndt~r nr o( c:tid prMni~cixy n~d~-, the \t~xlt~;?y~i-e cli:~ll have tl~~• ct~ntinaiu~ ~~pti~.n t~r rnl~nir 16r ~~.~~•~n~•ut ~~f a~l ~nm. u•~•~~rrd 1~~•n•1~~• l.v ai•fiun :~l ~a~c ~w cnil in w~uity tn f~uitlvcc 1~tic m~xl};a~c, c:th~•r t:r l::,~l; ec,::c:;-re.•;tlr •.r •.'I••.••v...• •.~~•1 ~w~.• a~tiun nr ~uit .h.?11 m~t alvdi• ~K Iw• a b.tr lu ~~r ~r.ii~~•r ri( thi• \1ort~a~cc'.e righl lo insti- lut~ ur tnaintain Ihc ~~tht~r. provid~rl ~aid \IrxiK:~+~~r ~L:JI h:~c~• ~Nd~• m~~~ pa)'~n~•nt m s:disf:~clion nl c.vti nxltti?tctincsc. 19. I( thi~ tmrrt~ace• ie eulM~r~li~~:~l~• t~~ ~~~i~~r tnort~.~~cc ~n~nud~~~rin~ lh~• ~~nc+mdxYnl prcqw•~h•. ih~•n. i~? aJditi~ ta al! othcr ri~lds, ~,~nxvl~r. an~l p~~v~l~•c.s it +n:~~~ h;?v~•. ~L~• \I~~stt~.~t;~t• •h:dl h:~ci• ri~l~l.. ~~~~n~rli~~. ~rn1 pri~•~Icy,rc iili•nti~:~) to thircc ~ranlcd b th~• ~~xxt- ~:~~~•~~c unde~r IL~• ~~rinr m~•rt~•a~r:. ~ 1~~ th~~.~ ris:6t~. r~~~n~~lii~ :uHl ~~ri~ili•t~~ itx~ap:~bl~• u( ~-~.~rci.~• h~• lL~• \I~x1t;:~?~~r: atxl s.~id ri~lds rr~ni~lie~c .~ntl p~i~il~~vK an• 1~~•n•h~• irn•.~r{~~r.~t~+l intn d~i. m~Kte:~~~• l.v r~~(~•r~•n~~e :~ud ~nad~• a j~:u1 h~Y~~~(. It ic t6~• int~nti~x~ 01 U~~ partics th~t A~r ~1~.rtL:~c~r .i~.?11 hav~•. ~n ad~liti~~n to fh~• rit~l~h, nYn~~ln~c :md ~~ricil~•s~iK it ~n:?)- 6:~~r inHl~•r iLic n~~xt~.~e~•, b; law, ~tNl by a~rcc- ~nrnt a•it~~ t~~r ~I~Kts~:~,~~r. fi~~• ~:~~n~• Iw ~~~•~~t:, c~~~n~it~• aial pnde~tiun t;r:~nt~~~ lu 16~~ ui~xf~:lj;/YK um~rr l~?c pritx ~ncxt};a~c~. uve op~y .uch a~ :?m rcl~:~cn1 in ~~-ritn~e l~~- th~• \t~,rt~_~~c~-~• •~r ~nc6 a~ IU:I\' IN' 1'CIYCiGIY~ I~\' I~IC (irct mort~a~ir alonc. •_'(1. fn thr r~•~~nt of (or~vb~~~nc of t!~i. m~wtc:~~~~ ~rr i~t6~•r tr:inc(~•r till~• t~~ Ih~• nNwtC:tt•~yl pnyti•rt~~, al) ri~lzt, lidr and int~•r~t of tIn \L~et°_.~_~~l n~ .,i~~l 1„ a~~. m-m.~m ~~,d„ Ih~ n in hn~ i~n ludinC :~I! ~,n•miu~ne tl~~•r~+,n p.~i~1 in ael.-anc~, :?n~l tnt~~•thrr ~cilh ~I! ele-jxxits ~nd adcani~• ~~.~)m~nt. fnr n:~l~h• ~~~i~i~•• LiiNl ~~r uat~ui•, h~•n~t~•(~r~ nr he•r~.~ft~~r d~•~wnil~vl I»• d?~ ~tM~t;1};M Gx such nfility ser~tM. in corini~ii~~n ~~•ith lh~ ~qx-ral~nn o! tl~~• m~.rtL:~~~~1 ~~n7ni.i., ch:ill ~•.~•c t~~ Ih~ purchascr ~?r ~:ra~ltr. \Io~t~a~Snr cm~ n.~ntc an~l :~•~rr.+ t~~ (~r~t nl~lain tl~~ ~~•rilt~•n c~~n~~•nt o( lh~• \tort~a~~•~ 1N•Inr~ trmn~•in~ ~~r diYnolichin{C any buil~l- ;~rS n~~e~- ~~r L~•i~ .~U. ~••~rei~vl ~.n Ih~• ~•r. ,nl•~~.. ~~r alt. ri~l; tlie• d~f.~i~L'rtn~ sti~. ~~~-,:L'n err ~l~~~rt•~~.~1 e ha:a~i~-r t}~~~~~~. ~x makin~ any iepairS t•:hich in•~~h~ tht- r~•nirn:~l n{ ~Inuh~r.~l ~~.~rt~ nr th~ 1'\~NTIIf1` IIF ~III` inh~ri~~r ~•f th~~ eulyeY•t hnildin~ t~? thr clc+ne•ots. 1( th~• ind~•Irtnln~~e .eY nr.~l h~~.• h~• i~ nu~~• ~rr 6~•n•a(1~•r (nrth~~r c~~•~~n~l ht~ t•h:dl~•1 mrni~;~~~'- plnlt;~~c, t~~t:a~te of ~uaranh•. as- ~iCnn„•nh ~~f 1~~:~«<, ~~r ~~Ih••r v.~~•rit~~~. ~~r if Ih~• pn~m..K h•-r~•h~~ ~•n~ n~n{N~rnl c~~nci~t o( ~n m tl~.~n ~~nr parc~•1. !h~ \1~xty:aCm ma~•, at its ~~ph~~n ~rh.~,~ct :im ~~n~• ~.r ~rn,r~- uf ..~i~) .ri u~~t~.• .uwl t1n• ~~~curih' }~~~n•un~I~~r or cecl~ parc~~k th~ cn•nrity h~•rn~ndcr, cithcr conc~~ncsril~. nr in~lt•rcnd~~ntl}-. and en ~u~ 6~~ttlrr .~c il ~~~.i~' tl.-~~•rn~in~•. 2't. \l'~tho~~t tinr Il~r liahihte tl~.• \I~~rt~:~,nr ~~r :~na• ~~N~~~r ~,~~rci~n (~•~~•r~~t anc p~-rcnn ~•y~n~.ch• re•1~•ac~Yl in ~~~ntin~) (or paa-- n:~ nt ~.f .~nc imb bt~.ln~.. ure~l I~, n 1~c .•t (~~r ~H rf~~n~+.~u~ :~m ~~hlic:di~m ~y••d:uu~•d l~~•~~~in. :~n!) w•~tL~~ut :~~(~~ctin~ tl~~ riFhte o~ tlie ~i \1~.rt~aC~•r ~~itl~ :e-yNVi 1~~ .~na- ~~rih m.l .~~I•r.~.l~' n 1~ :~~~~1 iu ~vritinC. N~~• \1~xtl•:~f:~r ~~~:~a•, at :me lim~ :?rn~ ~r~rU timC lo lintP, cit}~~r hP ~ f~~rr or a(Ms fhi• ruil~~rit~• uf ~.~iil n.~t~• .~n~l ~a~tl~~nd n~~tir.• :~nd ~Y~n.~•nt I ~al R~~Ici.c am• p,..~,n 1i.~61~• (~K ?~ac~nrnt uf all ~x :~n~• p:ut i~f the• ind~~ldrlm~~ nr f~~r {~t•tf~~rmanci• of ane obli~'ition. (b~ ~~.t{:~ :iut• a~'n•rm•u! r~tt-n~~in~! t~~:• ti~u~ ~.r ~~t~~rt~cnr. :~~1••rm^_ th~• I~~m~c i.f p~~~n.•nl a~~ ~~r :tn~• part i~ Q~t~ itxZ~•jit~~c~- r.rc. ~x ~nahf~in~: ~K ~~-:~i~ii~~ an~- n6LLah~m ~:r ~ulx.t~hn.~:iu~. iu~~:lilcin~ ~~r ~+th~Y~~'ice- d~•.?iiu}; v~:tl~ N~c lactn ar thargc h~rrnf. (c) I:trrci~c ~r r~~rain Irtan r~~rci~im, ~~r ti~:ai~•c an~ riCht the \tc~tt~a~cc may ha~•c. /d) At-ce~+t ad~lilinnal c~Y•nrih• c~( :m>• kirnl. (cl li~•l~ac~ ~r ~th~•nci.~ .1~:~1 u•ith ana• prrmcrty. n•~l or prrconal, tccnrinfi thc indchtcclnccc. including all or any part of thc pr~~x~rt)- ~nort.L`:~~~+~ ~~~n~i?}•. :\m• :~errr•~n~•nt h~re•.~(t~r w.u1~ 6~ \fortt.it~x :m~l \1~Kt~::~c~~e p~~rsuant to this mort~ig~ shall bc sujx~rior to the riRhtc of holdcrs of am~ intrn~cnin~ lien or ~ncun~hrani•~. In ~h~ rcrnt ~~~t~n• ~•~i~tc ;~n~• in~-~~n~icf~~r~rt• ~MI\\YY•!1 t~~r• prncici~~n< t~iic ~nnrt~.r~r :un~ iht~ pru~~icionc :?m• c~qN'rior m~xt~aCC. thi• pn.~icinnc of th~• aqn-rinr m~rrt~a_~• •i~:~ll i~r~•~.~i) \~dhin•, ~~~nt:~in.~l in Ih~. m~.~ts~ac~~ •hall 1H• cnn~Im~YI in c~~ch nc~nn~•r ac t~~ ax~~tdu[c ~~-iol:di~n :?m• pn~~i<inn .~n~• ~n;..~ri~~r m~~ttL.~t•~•: au~l mdLinL' ~~~utairnYl m tl~ic u~~Kt~t.~,~~ ~hall I„• lllY9t11Y~ ur r•in~t~~~••~l 10 ~ntitlc ~n~~rt- cae~~r ut a~~Nw~ii~• Ib.. n~• .1,. .inc a~~l ur thin~ ~chi~•h ~cu~dd rnnclitutr a ci~~l:d:on nf am• co~•cnant nr aRnYyncnt of mort~,agor cnnta~ncd m am• cu~v•n•., •~r•~rr•~c:•• °_fi. lt ic at;r~~Yl th:d i( anv n/ Ih,~ ~v„~,~•rt~• 6~•n•in ~n~.rtt~,~e~+l ic ~ n~h~r~ ~o th:ct a c•r~~rila~ inMrc~t tl~~t~•in can !x~ M~rfrctcd under IhC 1'ni(or~n (~~~~nmrn i.t~ C~~N~~•_ t~~i. in.irnm~•~~t ~I~.~11 cnn.lit~d~• •r• ntila aCn,~~n.•nt an~~ \I~~r~C.~Cnr :~~,nti•c tt~ j~•in ~~'it~i ~IiatC~C~r in (~?P r~rc~diun ~I .~m (in n« in~ .t:d~•rne7•h :~n~! ~~v. ~~f~• .~n~ ~~th~•r iu<tn~~m•nt. Ih.d u~a~ ~N~ n,~~~i~~~~l (nr Ihr rl~ti 1i~.n ~~r rcn~•~c.i) cu~ s~- ~:irih• int~r~.t mwl~r thr~ l'niG~n ('..ninu ~c i:~l ('~~I~•_ ~:dnli~ .i1i~m thi~ mnrtC:~Cc. ~chcn r~rnrd~-cl. ~Lall rnmtit~~tr a cati~(~clinn of any (in~nrintL ctatr~nc•nt ~i~n~ in r~~nutY ti~m ~a•~th Il~i. in•tnnn~•nt. n•n~•a a) tf~~rrnf. 27. Tn ad~ldic~n fn 11~.- n1~1i~_ iti~~n ~I~+~ ril,~ rl .~lx~c~• ac rci~l~~n~~.) I~v Ih~• ~n~anicctxti n~d~_ thic rm.rty~a?'~• ic ~i~-~•n Ir? c.•cnre am an~) ~~l ~~h~i~:~tinnc (~r~tn th~• \Irxt~:~C~~r t~i Ihr ~(~rsl~.ut~•r 1.~ ~iit~u• nl :~t~~ •~~~n:il~~ aCtr~•m~nt. ~~n:mi•c~.~ m•t~• ~~r ~~lu•t :~Lr.-.•tnrnt ~Nhc.•.•n \lnrt- ,r ~;~~nr an~i \t~~rtc:~s~~•c ancl fnt :~II •~bli~.itn~s~~ ~~f \I~~ri~_,~,~x tn \1~~rty~.~t~•~•_ coutiny~rnt nr :~h.~~lut~, clir~tl or iu~lircct, r~•~:?rdli~c o[ hrn~ecct or ~ ~~'h~nM•i7 cr~at~~cl. Th~ ~~mci~inne h~r~..f .hill I:in~li~~_ n14.n tL~~ ~1nrt~•,~![~~r an~l !h~ lu•ire. ~l~~ai~~r•e, ~M•r.~,n.i) re•~~n•e~•nt~livre, enrrr.ente an~l a~- ~ ~i~nc tL~~ \I~ttt~_.i~~~r. :~c ?h~• t.~~~• tn.~v b~~. .uul i~n:r. tr. Ili~• ln n~ fit <d th~• ~i~Ktt:c~~ r:~ml Ili~ h~~irc. ~1~•vic~~~-._ p~~nrn~~l r~~u~.~•ntaticrc, .n~~~•.~~~rc an~l :n.~~u. nl thr ~i~nt,.,r.•••. tL~• m:n }H~. \Ch~~r~• :n~~rc t!~an nnc \lortia~;ix i~ n:ini~•1 h~•min. thc ~~blikalinnc arNl liability OI ~:ll(I ~IOTtC.t{:nr ~h:ill !n- j~~int a~~~~•~~~~•r:~L ~ 29. Provided that thi~ Mortgage and the Promissory Note which it secures shall be in good standing and free froni default, tlje Mortgagor shall be entitled to receive partial releases from tlie lien of this Mortgage, of individual lots~ upon tt?e principal payment to the Mortgagee of t he release price of $~500. 00 made on account of the Page Three BOOK~ PA~ ~ - - - - . 3 ~t;~ ~ i - : - - - - ~ _ ~ r~; _ .~s ~ . ~ ~ - r.--~. ~x.