HomeMy WebLinkAbout0834 sucit default are hereby assfoaed co tt~~ MoctRag~e as further security for the
payao~ht of the indebtedness sec~ired hereby; and the Mortgagc~ ~nay also di~posaess.
by the usual stmrnary proceedin~s, any tenant defaulting in ttie payaaent of any
rant to the Mortgagee.
(b) In the event tl~at thc Mart~;aRor ~+cci~piea thc mortgaged property or
eny patt thereof, tlie Mortgagor agre~•s ~o surrender posseseion of such property
to the tiprtgagee imnediately after any such deFault hereunder~ and if the
Mortgagor remains in poeses4ion after suci~ default, such possession ehall be
ae a tenant rf [he Mortgagee, ancl thu~•Mortgagor ehall pay in advance, upcn
demand by the Mortgagee, as a re~svnable monthly rental for r.he premiaes occu-
pied by the Mortgagor , a~ a~r,o«nt ac lc•ast equivalent to one-tvelfth of the
aggregate of the tvelve monthly installments payable in the curreat calendar
year, plus the sctual amoun[ of th~ annual ground rent, if any, taxes, assass-
ments, water rates, other g,overnmental charges, and fnaurance premiums payab~e
in connection Mi.th the aeortgRg~i propercy durtng such year, and upon the failute
of Cl~e Mortgagor [o pay such r.onthly rental, the I~inrtgagor may also be dispos-
sessed by the usual s:~na.~ar~ ~roceedinss applicable to tenants. This covenant
shall beco~e effective lrt..`ll@:~LRtCI~I uper the happening of any such default, as
determined in the sole discrecion of tl?e Mortgagee, uho shall gtve notice of
such detetmin~tion co t~~c t~!.T~}~~;~OT~ an~l in tlie case of foreclosure and the
appoint~ent of : r~cei~~er ~~f ttie ren's, the wiihin covenant shall inure to the
benefit c~f such rerei~:er.
14. Ti~e Mnr~~,zRee i~i ~z«<' ~+~Cior to for~close tnis Mortg~ge shall be entitled
to th~~ ap~?otntme:~t of a r~cc~t~:er +ai~_tiiout aotice, as a matter of right and without
re~ard to tl~e va'ue of. ti:c ::.orr.:;zg~~' prop~rty, ox the solvency or insolvency of
tlie Mort~agor or ather ~~.z> r~~ iia~14 for ! h"e payment of the Note and other in-
debte:tnzss secured by ch: s M.~--'_;;a~e .
i5. Th~ Mort~aoo~, wi.Chiz t~r. ~Iil ~~v3 upoa requ~st in person or Within
t~.renty {20) da•; s:;•o:i r~ ?~~e• t:~~ ~:a: l, will furnish promptly a written statement
in form satisfact~ ry tc t`~e Moct;;af,ee, signed by the Mcrtgabor ard duly acknow-
le~l~ed, of. tt.r amon~it rhF~ owin~~ o.. th~ Notz and other indebtedness secured by
this Mortti~~e, a2~i wt~e*h--r ;_:iy offsets nr defensss axist against such inciebtedness
c~~ any part ther~ot . ~
1ti. Tt,~ tllortga~:~r aili ::i:~~ i.~~~ne~3:-tt i~oti.ce by regis[ercd or ~ertified mail to
the I~iort~;a~;,e of env '~i~_~, .i~r:a,~e or other casualty affecti.no the uK~rtgaged
~ propere;~, or c: :+n~ -on~-~~~•~i tr~~::~tec or :hange in o~nership of such property,
~ or atiy ~art tt~e.e~,f.
1%. N~t ice and ciem~r r,c be na~le in vri[in~ anci ~ay be served in
~ person or by mail.
r~~. t, ~ } r 1 tile T401~ ",°I~ ~)C~~1e' : V~ P.~c1 - ~'@ COI~~
18. In ca,e o~ a fo - - - -
i ~ one r~arce 1. -
19. "['tie '•~!ort.:._a~ar ~ a~si:•n thr rents, i s a~,~~, i, oi i., ~rom
t~lt'. ff1()I~t.-^,:14:(`~) ~~C~)~`cr~ j. ~~T .ill~.' ~t:11'r ~~l!'T~'Of ~ W~tt!(TI1< <1~;• •~j 1~1T WT"t Yrt't1 I'/1ttC~tj7
of LhP t-~ort R~F~c. ~
2~. T1°C l~~"*' f-p~'1~~Ct t ~ ) Af- . 1 ~ V ~ ~?i7 Of t:F?A p~~~r i , .r,l : ,-~.F.~r f , . , • . y "t
Tl,=^,~lr ~ f•1! 1 t!~i•-*C)" ~:~:r~ ~_8'.~~.. ' .t'iOC1CV t0 sell .,~.:1 . . :~'•r,~ + ~.n ::i^~~ i~j ' j.r a .
AJO':P rTt1i'j~lt~ri ~ Rfuj [J1 ~ 1 VAT~ Sfid ~efen~~ t}1P c~i..e rn t!~ i! t ~..'1y,~+^ ~n:
aRs+in<t Cf,t• 1-e~il-~~1 :i~„' de+.nanci5 of any an~i parti~~ c.sl~~t•nev~•.
C1. rI.E Mr~r~~:l~.~~' t;z~i ;.h~~ ~.'?.1~~''S ~l•C ~t'-Ilt.fJ L!lf ~~1•~lPE'ti~.(~A'.~ E"''„i~~+~ 1(l~~y ~7S tO
the 1e?~~ S~'CLL~~~ t=~ 1~ .ZV f;a:~~-' a:l(~ a$ t0 any ^ ~ j~e~1C~ tti P~Ot t"SUI BUCE•S ~
taxes, leviES, assess~ien~s, d-.e~ : e;r cti~ar~es incurreci nv ti~e Mort~agee pursuant
to any ~r~rov;si~n of ti~i uor*_~a.~e.
22. 'fhis i~[ort~g~~ e and all ti2~ covenants, agreements, ter~os and coixlitions
herein contained shall t•e bind?n5 upcn and inure to the •beae£*it-aP t}ie ~o~rtga~or
~ • and the heirs, le~ral repre:e{sra~ives and assigns of the rtortgagor, and, to the
exten,: ~ermitted by laW, ever;~ subsequent ovner of *_he mortga~:ed property, and
shall be binding upon an~; inuie to the benefit of the Mortgagee and its assigns.
If the Mortgagor, as defi~ed h~rein,ao~sists of t~ao or more parties, this
Mortgage sr~all constitute a grant anc~caortgage by all of them jointly aad
severally, and they sha1~1 be obligated jointly and severally under all the pro-
visions hereof and under the Note. The word "I~brtgagee" shaZl include any
1~ICROFII~i M •LUO
I,egibility of writing, typing ' 6' ~OGK~~t~7 ?aGE
or ~rintin~n unseti4factorv in
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