HomeMy WebLinkAbout0168 d. To pafai++. comply w~th ~nd eb~d~ EY ~+~h ~nd ~wry .stiµl~~ion. ~prt~ment, cond~t~on a~d cov~nan~ in s~id prom~swrY noN ~nd d++d s~t fatA.
7. If ~r ef tlr wwr oi nanw AK~in ~•+..r.d a b. na ao~h and t~M wtd wirNn Mirb q0) d~tl~ Mat d~~r ~M unw ~.~11~r Mco~ d.H ~nd wr~l~. :
a If wcA ~nd ~vrr1? IM ~tipubtiom, prwMnb. cand~am. ~nd cov~n~nM e/ uid Wanuwry noN ~nd ~hn matWO~. a ~i~Mr. M~ na duly qr}«~d. caMli~d
wc1A u~d ~bid~d bfr. 1M py~9+~~ wn~ n»ntion~d in uid waniaav• noN sMll MconN dw ~nd wr~ taMwiN~ w M+awlw N N» oWan af ~M Ma~w9N.
~s (v11y ~nd cawwNh~ « M~ald pq~~9+» ~un~ o! ~y wN O~iyiMlfy uipuN~~d ~o b~ Pud on ~ucA d~Y. «w~+~4 in iud wo~uo~Y nW~ a hN~In b~M ~
conn~ry no~w~Ju~andinp. '
S. To delivN to s~id Mwtp~q~~. on a betw~ M~rch ISth of ~sch ywr. ta¦ nc~ipu w~dendnp ~M pav~~ of ~11 lawtully impos~d ta:n fa ~M wK~d~~w -
catsndar year, a~d a d~liver ro said Matqayt~. nteipts wid~nciny tM paY~t ol all lisns (u public imptOYHnMh witAin nin~ty (90) d~ys ~(ter rM s~ ~MII ;
Mcoma dw ~nd wrabl~, aed ~o paY u diuhary~ with~n niMty (90) dayt aitt~ dw date. uW +~d all qoverrrn~nt~1 Nvi~+ th+l m+y b~ r^+d~ a^ tM "'°'~W9~d •
u
propHty. on nc~s matgage w note. a in ~ny otha way raulunq t~om tM Mw~p+~ i~d~bt~dnsss tiscvr~d bY ~his mwtpayr, ~nd if Mis conditwn b~ na compli~d ~
w~th and p~rfamed. u~d matgaye~ mav wY such sum w sums which slyll b~com~ pat o( debf aecv~~d bY tAis ma~q~p~. ~nd +Mli Mu im~r~st tM raN of ~
s~¦ per ca+?. (6°e1 P~r wY+dk semi-~rvwally until p~id w.,~d Morry,~. m~y ~I~ct'•tMt uid mortpaq~ d~bt tMn~ipon b~com~ dw +nd D+Y+~~ fathwilh.
9. It i~ fw~Mr co~renan~sd ~nd ~yrNd !Y u7d pwia ?Mt tn ~M ~v~n~ e~ • suit b~~ny ins~~w»d b/aaloN 1~+~s nwrtp~v~. M» ~bnW9» ~h+ll b~ au~N~d a ~
~ .~~.Yt .v .~Y. • ~ . ....~tr J .11 ..d •Fw....lu ~ wNM~e~d dneYN_
- _ ' _ .._e_y..- _ _ _ _ - _ . _ _ . .
WVry ~ny nnp D~nY.ny ~.M. :.::w-w:.:c: s:+:: c:~ :~~cc _ . .
•nd o1 ~N ~M ~M. inco~b o~ofiri. is~wa and r~wnw~ tMnoi. ~Iro~ wMtww+r saxc~ daiwd: and ~Mr~ww? i1 h Mr~M/ ~~p~ssb covenam~d ~nd ~pMd ;
tMt N» caw~ tlutl todhwitA ~ppoiM ~ nc~~vM of wld nartq~p~d v?~b. dl ~nd ainpular. ~nd o! sud~ ~~nM. inconw. wofip, i~wN ~nd ~~wnu~ tlwtw/. haw f
wM1~o~vw w~we~ dwhr~d. wi~A d» vawl powvs and dulih of ne«v~es in lik~ uws: ~nd sud~ +vPO~etnwnt ~11 b~ ~d~ M sueA eowl a• enuN~ 01 zbid riqM
a ~M MortY~9N. ih wu~a~ah ~Wd ~~~^Ntiva a as~tym. and witAoN r~fa~nc~ a tM ~d~pu~cY «~~Y o1 th~ v~lw of tM o?oW+W ~tbr inwtp~p~d,, i
a b~M wl~ty or imoM~tY of M» Maq~9a. ~nd H+N such r«u. wolib. incon», iuuq ~nd r~wnu~a ~MII b~ ~oP~i~d by ~ud~ nc~iwr a th~ wrmtnl of 1!~ S
~norfp~y~ L~d~bNdn~s~. twb and clwpN. ucordinY b fM adw of wd~ court. - #
e
10. If all a sny part of tM w~hf a sn inta~f~ ~Mr~in is sold a t~~nsferted bY inw19a9or wi~hwt mortp~pM'~ prio~ wrinen cons~m, ~:cludinq (e) tM z
creation oi a lien w encumbante ~ubordinat~ ?o this mott9sq~, lb) tM crtation of a purth~u nwneY s~curiry inter~tt fa hous~hold +ppliancq. (tI • hsn~fq by i
dev~se u descent, a by ope~afion ol law upw~ the d~a?h ol s ioent tenaM. w(d) the y~anf of ~ny kauhold int~.es~ of Mree v~+n a less no~ conu~n~rq ~n option ~
ro pwchase. mwtqagee maY. s~ ~ts opt~on. d~clu~ ~II tM wms secw~d by this mortp~q~ to b~ imm~di~uN due +~d P+vabk. Mwtp~qee shall haw waived such
oPt~on ro accekrate ~f. wia ro t!K sale w twns(n. m«tysqee u~d tM pe~wn to whom tM poperty is to ba aoW o? M~nafNrtd rexh ~preement in writinp ;
rhat the credit oi such pnson is sar~sf~ctory to Morqage~ and ~h+t tM interest p~y~bl~ o~ tM swns secw~d bY MGs mort9+9~ sMll be ~t such ?aM as MwtqayN t
ehall rpuest. ~
11. 7M~ in IM ~vent fM o~aaia„ Mnbt~ ~W9~. a~nY o+n ~Mrwf, sMll A~ condan»d ~nd qicM+ for CuW~t uw undw ~M Po~ of «nin~M dowuin.
tM AbrrWY« +h+ll A~vr MM riqht b d«w~d tMt ~11 dre~9u ~wad~d /or M~ qkin0 of w d~nwy~s w sMd P~~s~s tMll b~ Wid ~e N» 1VAor~9~9N ~ to Nr ~wount ~
tMn onWid on N+ia a~at9w~ and a1 IM oWion of Nw Mw?W9~~ nrp b~ ~ppli~d ~Ow~ tM wY~wnb lat pay~bN Nw~a+.
~'j. ~~y ~1W~Op/ b'~1~1 ~H1111t~~ f101 b qKt Of PM111i1 t0 ~ HK1~ ~f1Y MW MlIIWf1y{ Of~ t~N PrMyfM 7MRn? q~Wi~i~ 6/ t3 i~ ~i vt ~ri~3'.:i t$ ~L 2'.~`~ ~
ro~ntl ef 1M ~aiuinp irnprow~nN+b tMr~on a m~b +aY cluepM a ~Ihr~tiw~s in f~id i~aov~n»nM which nrNti~lh cl~np~ tM s~nr w Nw vs~ tM~so/, vnHw~n
tM vwitbn consMr of the IMo?W+0». and in tl~ ~v~nt of +eY vio4Yan a~nanPt a vio1N~ fhis aupul~lion tAif mat9p~ ~nd ~11 swro s~cw~d Mr~b1l sh~ll i,n-
rnt~~Mly b~tOnN dW Yid C011Mib1~ tl 11M aWan 01 IIM AAOfIq~pN. -
1~. It is ~p~ci(icallp prNd Mat ti~ h of N» asarc~ ol ~is coMwc~ ~nd that no waivsr oi aMr op!ipation I+Mwndn a d~M obliyN~on ~cwed h~r~bY a1++0 ~r ~ny
t~~ b~ Mld w b~ ~ w~iv~r of Mw Nrna Mr~of a of tM imhw~ret uax~d ha~by.
1!. H f«.elosw. a«..~r~ps o~ .nr s.eond monww a ueond m,a~ dNd o. ~nY iuewe? IiM, o( any tind should b~ ins~in,r~d. tM MorepaQe~ m~y. i~s eW~oe.
i~neerdiaaty a NwNfter drelu~ Mi~ mor~9+y~ ~nd tM ind~W~dras secw~d Mr~bY dw ~nd Wv~01~ iwMwith, and ~Y ~t i» ootion proe~ed w(w~clos~ th~f ?
mwtp~p~. ~
13. To tM ~~Nm of ~M ind~b~sa of tM Mw~W9o? b tA~ M1wt9+9e~ dnu~b~d Mre;n a secw~d herepy ~M Mort9+qe~ is hKeby svbroya~ed ~o tM lien or ~
li~ns and M tM ripAh of Nw ownns ard holden ~hereof o( ~~ch and ew~Y ~tq~pe lian w o~her inewnbrw~c~ on ~M Ir~d daaib~d hK~in vrhich i~ p~id ~nd/a
utisfi~d in whob w in pa~ o~n o( tM pecead~ of tM Io+^ dncriDed ha+ein a atcwed h~rebY. +~d tM respactiw li~m of s~id mw~y~qes. Iwns a other inc~.nbrances
aAetl b~ ~nd tht. aa/r+ and s~cA o~ th~n+ Aereby is peserved and sMll psss to snd ~ MId by th~ Mor~p+9e~ 1w«~ +s secwi~Y for dw indebNd^eu w tM Mwt9+9M ~
Mrtin describ~d a hereby ~aoxed. ro tM snn~ e¦~mt th~t it wo~ld luv~ Eeen pr~s«wd snd would Mw b~en wsud a ~nd been MId bY tM Marp~q~e had it been
dvly and repubry au~pn~d, naruf~rred, sN owr u~d d~l~vered unro tM Mor~yaq~e pY s~Wr~q de~d oF usiqnment notw~datandinq tM f~a tMt th~ s~ ~Y ~
u~~~fud and cx~c~ll~d of ncad. it be~n9 tM in~an~ion of tM pu~ies he~NO ~h+t fh~ s~me will b~ s~t~sfied and w~c~lled of fKWd Ey :~M F1OIdlff tF~erwF N or ~bo~t
rhM tim~ of tM recordnq d Mis mwtp~q~. ~`T
s
16. Tn pay all srd s~ng~lar the cosrs, chsr9e+ a^d e¦pe^ses, incl~ding lawyer i fees, rcasonab~y ~ncwred w ps~d st any time by the Mw~9+9~. ~ause of
~nr fa~l~re ot tM 1Nort9aqw ?o perfam, comply with and abide by each snd eve~Y the stipvlat~ons, aq~ccmenn, cond~tiwis, and covenanls of said prorniasory
note and N!is dwd, w iitl~er. and every s~ch paY~t shall bear interest from date st the rate provided in ssid pomissory note.
~ :7. Wh~n ++iY +~N of nwney b b~ P+~ bY ~~~90? to tM Mortq~pn w~d~i tM tenm hw~o1 sMll b~ in deiauN, a sMovld tM Morpapo? defwh in :
~ any of fhe otht+ ternu, proviiam w conditian of Mis Mortq~p~, tMn and in th~r us~ rM Mw~y~~ shall Mw N» riqht, wi~houf noGc~ to Nr A~Iwtpaqor, to :
' colkct ~nd receiv+ f~aw ~ny Miunt a le»N of ~aid inwtq+y~d prtmis~s IA~ renb, iuws ~nd profih of tM rwl ptN~ henby nw~t9+qed +nd *M ~~o~e^K^b }
s chereon, and w qiv~ w~ rec~ipts ~nd xqa~nancs~ tMr~fo~. a~d +h~r P+Yiny a11 cann+hs~au of ~nY rw~pl ~qe~t cdkctinq tM s~, and u~Y rwonsbl~ n+wney's a
~ fees and otMr ncceswY ~ap~ns~s incwrtd in collMiny aam~, ro apply tM poceeds of s~ch colkc~ions upon anr indeW~dnesa, obliy~tion a liubitity, oi ~M ~
S Monyspor Mrevnda. TM ripAt qranted ~M M«tyye~ under this parpr~ph sh+~l b~ in add~~an ro. ~nd shall nm I~mit w~~strict, anr aMr r~pAt o~ r~yAts yramed ~
~ tM Mortp~ya~ in Mis Matp~q~.
~ 18. If the Monppa~ af fl~ t~m~ o} inekiny ~his Mortpp~ w subuo~nnt thcnto f~b ovt I~f~ inswu~c~ dn~+u~q tM AAorrp~par herein u ben~f~ci~ry w~th a ~
~ companY ~ppoved by th~ Mlwty+9» a sssiqrr policies fo th~ Mw~qayee fa th~ pwpos~ of ucwinp tM mwtp~y~ loan hereby saawed, then ~M Allortq+pe~ shall ~
~ have ~he ~igM to p~Y a~r pe.niwn +ccr~iny ued~r Nld po~iti~f. ~nd ~II w~s so eapend~d shall b~ sdded ro w~d Mcwn~ • wrt of tlw pinc~pal indeWedness suwed ~
by this ~,.+9.v .~d .h.u e. w~d by M. Mo.~wvw w+h. Mw+wa~ in hwlw pwl consec~~ive enonN+ly inspll~w~nb, tM tint ma+Mly i~sl~ll~nr to b~ p+id as • ,
g p~rf of end in ~ddition ro tM monthly p~ym~M dw ~nda~ this Mortq~qt in tM fint c~tendar 1nonth followirq IM t~p~ndwq oI uid awe. Such sv~f w eipended ~
~ fo beu im~rese n tM raN at whicA interest ia qY~bM uid pincipsl ind~btedness u~d tM lien of ~his Mortp~~ sA+~l ~arend w u~d secw~ the a~ms ~o capended '
roqe?Aer witA inte~~st ~hKeon ~s heranE~fa~ p?ovid~d. `
:
~ 19. At mwtysgee's option, together wieh snd ~n addition to the monthly payma+t of princ~pal snd in?crest psysble ~~der the terms of tFu note secwed ~
hereby, Mwtgaqor ahall pay ro Allortqaqee esch mo~N+ ~+ntil siid note is fvlN paid, onrtw~Ifth (1i14) of a sum eq~al to the snnv+l prem~um due fw fire, eitended
coversge, and other I+~xard imwance covetiry the mortgsqed poperty, plus taxes and assessmenh ne~t due on the mortga9ed p~opertp Sall as est~mated by Nbrt-
~ gaqee) kss all swris already paid thaefw, and fo be divided by the nwnber of months ro elapse w~w to the date when svch taaes md ~ssesunenta snall become ~
delinquent. Sa~d s~ms shall be held by Mwi9+9ee in trust or credited to the princ~pal of the loan, ro pay said insurance, ts:a, and assesaments and shall be
apptied on the psv~t thereof when d~e. Any e:cess hNd in tr~st by Mwtysgee whe~ said loan is pa~d in fulf shsll be paid to Mwtyagw. a his sssiqns, d #
personal represenqtives. In the event of s defa~lt u faecbs~re, said sums he~d in trvst may be spplied on anY costa of dam~yes svstained in connectian with ~
rhe callection of eha ~ote secured hereby wAether by suit, forecloawe, a otherwisa Mort9+9~~ ~++Y from time to fime at ib op~ion waive, snd after any such ~
NraivK, reinstste any d all prov~sans hereof req~iring such deposits, !iy nofice to Mo+iqsqor in writing_ Wfi~le any such w~iver is ~n effecr, Mutgaqor shsl! pay
ta:es, usessmenri and insurance premiums as herein elsewhere p~w~ded- t
,s
~ 4(1. Mortysgw shall coenply with rht Provisions oF ~ny tease, if this mwtgsge is on • lesulwld. If this monp+ge is on a condom~ni~n ~n~t, mortq~qw aMll
~ perform all of mo+t9aqor's obligations vndcr the dec~aration of condom~nium w master deed, the by-taws and reyulations of the condominium p~oject and can-
stiwent documenb. lMortgsqw further covenanb tMt he snd the association responsible for the operat.on of ~he condan~n~~m will observe all of the p~ov~sioru
of the s~id decl~ratio~, snd anY ame~dmenes thereto, and of the Gondom~~~~+m law of the atste, and will perfwm all obliga+ions rherew+der; and a f~ilure to do
so which is not c~red within 30 days ifter ~ot~ce given by tMe mwtyayee to the mortqagor snd the said sssocistio~ shall consnture s defavlt under +his mut9a9e•
h? Mwtp~qor fwtlxr specilically covenanri, bu1 not by way of limiution, that he x+d the association will obse~ve sll of the p~ovisions of s~id declaration of condo-
miniun relatifp to inswanc~ cOV!/aye.
~y i~featation on
21. Mut9a9w Iurther covensn?s u+d aq.ees that st the request of Mwtgaqee to fvrnish s su~dard termite bond inswi aqs'u~st dsmay~ by
; fhe buildings now OI I1lfNftN located on the morlpaqed properh, in s~ch amounts snd terms, snd with such compa~Y as +PP?aed s^d rpvired by NbrWsqee; ~
a.+d in the event Mw~g~gw does ~ot comply w~th tl~is covenant Mwtgagee shall have rhe s+me rights to obtain same as i~svrsnce coverage under coveRant ~
_ ~
,'t3 haeof_ ~
~ - ~
~ ~
~ l n ~Q
~ BORK2JO PAGE ~VO =
~ ~
~ f
~ ;
~ -
~
kq3
~ (Signatures on Reverse Side) r
~ ~
~ _ a
~ _ . _ _ : ~