HomeMy WebLinkAbout0214 6. To paiam, comaly w1~h and ab~de by ~ach~ and ~vay s~~pulatlon, a9rNm.~N, cond~uon +nd cownaro in s~id p~omissory noh ~nd de~d s~t lwth•
7. H~r o/ tM ~unr of w~oMY Mnin ~d«~.d ro e. nw v~o~ro~N •~d ~~M aid w~dwn ?Ai~?Y (~Ol d~y~ n~i~ d~N tM sa~ ~r~lly Mca+» d:w w~d p~y~1~.
a i! ~~ch ~nd ~wrb N» ~tipul~iwiu. pr~rrnb. ca+di~iau. w~d cown~nM o1 uid wu*~~~aY noM ~nd thi~ maetyap~. w~i~hw. w~ ~a d„H w.fw~d co~ol•~d
wiM ~nd ~Lid~d SY. tM ~yqr~9+t~ ~wn n~rion~d in Nid prond~wrY ~oh tMll Mconw dw ~nd WYaEN ,Iorthwi~A w Mw~~hv ~t tM op~:on o! ~M Mwtp~pN.
u fully Nd canDl~hN ~s N s~id ~yqrp~n twn ol maw11 w~~ aiyiMlly ftipubl~d W bi M~d aw tvc?- dM. ~^Y~^0 iA sdd pawinory nol~ o~ Mr~iw b/A~
conttwy nolwithsundinq.
e. To d~l~v~r ro a~1d Ma~ysqe~, o~ or beiw~ March ISrh of ~ach yu~. ta. nceipts cvidendn9 tM pavm~~t of all Nwfully ~mpoud aa„ (o~ ~M pec~d~no i
cal~ndar yN~, and fo del~v~r ~o sa~d Mo~rgagse, rec~~pts evid~nuny tM pavm~nt ol alt IiMS tor public imp.ov~maus wi~Aio ~,in~ty (90) d~y~ ~I?a ~M ~am~ sMll
becom~ dw a~d psrabl~. and eo pay w d~scharq~ withcn n~n~ry 190) d+rs ait~r dw daN. ~ny ~nd all qovermKn~d levle~ rh~t r.uy be m+d~ on tM mor~pptd -
prop~~ry, on rh~s mo~~ga~ w no~~. w in any otMr way ~~wltinp from the Abonpap~ ~nd~btedn~ss secured bY thi~ matpaq~: ~nd i) Mis condi~ip~ b~ not compli~d ~
with and pe.famed, u~d mw~qaqe~ may pay such sum w sumi wh~cA ~hal~ b~can~ part oi tM debt ~ac~nd by ~h~~ mw~9~9+. +nd s~+~~ be+~ ~m~«+~ ~M rah of ~
p~r cenr. (6%) per ~nnum. p+Yab~e semi-a~nwHy until paid w said Mwtqape~ n~Y ~Ittt tMt i~id mwtp~p~ debt ~Aare~Mon Mcom~ dw snd V+Yabl~ tathwiM. ~
O- 1~ t. ~~~Iw mwwaw»d and aorwd 6v uid wrtiw thal in /h~ ~wnt of • suit b~wq inq~twed b fOIKION 1Ai~ nwrtp~q~. ~M AAatp~y~e ~MII E~ ~ntid~d lo ~
~pply ~1 ~ny t~nw pMd~no ~uc~ foncbsw~ wi~ a ~M cowl Mvir~q iwiadidion MNeoi tor ~M ~ppam~m ol • ra~ivw ot ~u ~ne su~pu~~? a» m~q~yw pop~~ry.
u~d e1 dl Nw nnM. incarn~i. vrofifs. iawN ~nd nv~~~ tMrw1. kaa wMMower wwu daiwd: ~nd tMnuoa+ it h Mr~Ey •,pnahr cov+nan~ed and prNd
~M1 ~M cow~ ~MII tw~l+wi~A appoua • nc~iva o! ~atd ~na~~~d poo~~tlr. ~11 ~nd sinqut~r. ~nd o1 ~uch nnh. iaon~n. pofies, iawN er+d ~~venw N~wwf, fron~
wlyt~eww wurp dMivrd, wi~h ~M u~w~ pwM+n Md du~ip u} nc~iwn in Gk~ c~~s: ~nd sucA ~ppo~nt~nl aM1I b~ ~d~ sy sucA cowt ~s •~nanN o1 snicl riyM j
b dN AAatyaqe~. in wuhwr4 I~q~l rpr~nuriva a auiqns, M+d wi~hout rd~a~nc~ W th~ ~d~a~+~t w in~d~quacy of d» vdw o1 tM popKhl Mreby ~w~y~ad, `
a w fM wlwncr a i~reM~cY of Nw Mortp~va. +pd Itwt a~rcA rMf, profib, L~com~. iuws w~d rw~nws sMtl b ~ppli~d M wch nc~ivM b fM wr~~ of 1M =
nwr~a+q~ i~d~b~~. co~b ~nd cMr9w ~ccad'nw a IM aAr of'wd~ ca+A.
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10. lf ~II w•ny parr ol rh. prq».~y or an inte~at Nwein i~ wld or t~~osferred by ~nw~qapw without mortp~qae's prior wrinen cons~m, ~:cludinp tM ~
cre~t~on oi a l,en w cncumbrsrx~ iubordina~e to ~his mortyay~, (b) tM croation of a pwcMu moneY ucw~ty ~nterest fa household appliances, (c) a tranife? by
deviu a d~scene, a br ~a~ion of law upon tl+e d~ath of a io~n~ tenant, a(d) tM q~+nt of u~y k~sehold intera~ of ~hrsa YNrs a leu not caou~niny~an option ~
ro pvrchase, mo.tgayee maY. at ns oprion, dalare all tM swes sec~~~d by this mortq~ys ro b~ irnmediaaly dw ~nd paYabk. Matpapee sh+ll Aaw w~iwd such
option ro xce:c:are iF, pria ro the sale or hansfer, mort9aye~ and tM person to whom tM p~oparty i: to be sotd or tr+ns(sned roxh a9re~msnt in wrifing
rAat tM cr~dit of such p~non is ss~~sf~ctory ~o Mutgs9e~ and N~+t tM interesl p~yable on the iums ucured by Miii morey~q~ ahall be at such nte ~s Mwtyage~
shstl rpuest. ' ~
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11. 1Mf in tM went 1M P~~~ hNeEy enaty~qd. or +~W P~rf fhawf. shdl b~ condemNd ~nd »k~n iw v~lic uw w~da ~tw pow~r of ~nwmn~ donrin, ~
~~q~qN ~MII lrv~ N» riqAf a d~nrnd ~M~ ~11 dMn~q~s ~w~rd~d iw MM takuq o( or damapM w uid prwnisa ilwll b~ p~~d w Mt Mw~WqM uv b~~n+f
M«+ urw.id on fhi. n~onwo. a~d a~ M. a~ion of M. MonwvN ~n.r b• •no~~.d vaa+ N» wr~wna Iw wr~ .
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14. TM na~~pw binds Aiwa~lf not w~nct w oMnwt ro b~ er~ct~d +Mr n~w buifdnqs on tM W~nrsN Mnin nwr~9+9d or ro~dd to or w*rn~~ ~o E~ ~dd~d
ro~~tr of M» ~:istinp iniprow~nh tlwnon a nwk~ +nY cMnpN or a1M~u:an in aaid improw~n~nM which nuMrialy chw~p~ tM s~~ a N» us~ dwwf, w~Mo~A
tM writNe coma+t of tM Mort9+ON. ~nd in /M ~v~nt of ~nY violation w ananW to vio4H thia u~pu4tioe 1Ai~ mortp~p~ ~nd dl swro a~cw~d Iwr~by sMll i~
nrdi~tely b~conr dw ~nd colbct~pN n Nr eWion o( ~M Ma?q~pM.
ll. It ia w~tifiully aprwd tMt tim~ h of ~M ~ss~nc~ of this contract ~nd tM~ no w~~va ol anr ob•ip~tion MrwndN a oi tM obliqNion ~~cwsd M+~Mr d~+ll ~nr
t~m~ b~ MW to b~ ~ wa~ver of fh~ tMn~s Mrwf a of tM irohwneM secw~d I+tr~by.
1{. if iw~ctosw~ P~ocMdnqs o} anr s~cond mortp~q~ w s~eond t.ust dwd or ~nY iw»w lien of anr kind siw~rtd b~ i.arie~»d, tM Mw~pss~e inar, a~ ies oprion,
in+es~diaNly a tMrnfta~ d~clar~ thi~ mortp~ye and fM indebndn~a sacwed Mr~bY dw ~nd WWbt~ futhwitA, ~nd m~y af iri eP~ion Pocaed to for~clos~ M:s ~
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mqtp~p~. i
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15. To tM ~aNnt d N» ind~b?~diw~s of tlw Matp~9w b th~ Mortp~qet detu~Md Mr~in or sccwed MrebY Nw Mortp~qe~ is heresy subroya~ed w the lien or
liens u~d b 1M riphb oi ~M ow~ws s~+d holden thereof of ~xh snd ~very mortq~ye lien w od~er incwnbranc~ oo t1r Ir~d dac~ibd her~in whicA is Wid and/a -
a~tisfi~d in wlqh a in put out of tM proceed~ of the Iwn dest~~bed hm~in w s~cured herebY, i^d tM respec~iw tiem o( sa:d morfqayes. t~~ns oe other ~ncvmMancea
~hall b~~~nd tM.wr.~ and ~ach of tMen herebp is w~sened +ad sMll pass to ~od b~ MM br tM M1on9pM hu~in ~a ucwiiy for tM ind~badn~ia~to tM AAonp~vN
henin describ~d a her~by s~cwtd, to th~ s+m~ e:t~nt that it wo~ld haw been p~~serwd a~+d wa+!d haw been pns~~ fo ~+d been MW bY tM JNor~p~y~e had it been ;
d~ly and rpul~rly utipned, trarol~n~d. sN over u~d delivered ~nw tM Mwtqs9K bY spusn de~d of ~asi9nment eatwidn~andiny tM (xt tMt tM s~m~ ~Y be :
sat~sf~~d and cancelled of recwd if b~~nq rhe intention of tM pu+~es I+ertlo ~hs~ M~ sam~ w~ll b~ sat~stied ~nd c~nc~lled of ncad by 'he lalders tAereof ~t a abov~ :
tn. tie» o} th. .ecudinq a this m«tq.4.. $
1Q To pav +11 and s~nq~tar ~he cosu, charges ~nd e:pcnses, incl~ding lawyei a fees. reaaonably i~cwred or w~d s+ sny t"une by the AAatya9ee. becsuse oE
tne failvre of the Mdtya9or to perform, comply w~th and ab~de by exh and evcry the stipulatrons, agrtemeNS, cond~t~ons, and corenants o( ssid promiswry
rote and'tl~is deed, or eiNrer, and everY suth payment shatl besr interest irom dare at Ihe rate prov~ded in said promissay note. -
17. YYh~n any amamf of saMY b b~ W~d bY ~~9~9~? m~~~+9~ w'd" ~ h"^' ~II b in d~1~uN, a should tM Mwtysyw d~1~~rH in
~~y of ~M oM~ tarnu, povisia~s o~ conditiom of Mis Matyap~, thM ~nd io thse cas~ rAe Mortqaye~ ah~ll haw Nw riqlu, wiM~ov~ nOtiCf a tM Ma~4+9w. w
cotiact and r~ceiw frwn anY 1~n~nt a fn~e~ of s~id nwrtq~ped Wewwses 1M renef. ~u~m +~d prolin of tM r~al estN~ her~by +norty+q~d snd ~M :TDrove~nh
rkerc~oey ~nd to yiw prop~? rec~ipb a~d xquinancea th~refor, snd si~er p~Yirp all com~++issiona of ~ny re~tal ~pent colkctirq tM s~~, and ~nY re~saub4 anorney's
4 i.p s~. ~o appM fM proceeds oi svch collect~an ~pon anY ind~bt~as, obl~qsrion « IuEiliryr, ol tM
' f~es ~nd oM~r necess~ry ~:p~rofs incwred in colbcti
~ Mwty~yor here~wid~r. TM ~iyAt qr~nfed tM Monp~ys~ under Mis p~riqraph shall be in add~tion ~o. ~nd shall not lim:t or re~hict, ~ny orMr r~yM a nyAh pamtd
rh~ AAortqryN in Ihis Mony~q~.
€ 18. If th~ Morty~qon at the tim~ of ~kiep this Mwtyp~ w subs~pwnl tl+~reto t~k~ out I~i~ ins~r~nc~ desiqnHiel9 tM Mwtqaqe~ hrrei~ ~s beneficiary w~rh • ~
g cornpu~y ~ppoved Qy dw Mbr~9+qe~ or auiym policies to tM Mwtg~qN ~w fA~ pwpos~ o! secwinp t M mwtp~qt lo~n l+en b y secwsd. Man Mr Mlwt9p~~ s6+ll t
~ have rM r~yh~ ro psr aey p«n:wn .ccru~rq „nd.? said po~k~e~. ~nd all wms so e+eper~ded shall b~ add~d to r+d becan~ a p+r~ o~ N» w~.,c~wt ind~b~edn~u secwed
by ~his Mwryay~ and sMtl b~ wid by tM Mortq~por m ~M Monpape~ in twelw eawl cansecv+ive monM+ly insbltemnb.. 11» fint ewn~Aly inabUw~,~ ~o M w;d n a
$ pa~t of end in ~dd",tion ~o tM ~nonthh P+Y~t du~ under tAis Mony+q~ in tM fint c~kndar mw~th follow~nq tM ~ipend:eq o( s~iQ svm_ SucA sv~m w e~pend~d
to b~n interat ~t tM r~tt ~t wAich i~nerest is p~r+b~ s~id pincipal ind~btednes~ ~nd tM li~n of tAi~ 1VAorty~p~ ~MII estend w and aecw~ tM ~was w eap~need
~ ~oqs~Mr wi~h ~u/ iMrwn u her~mMia~ povid~d.
19. At morfysgee's opt~on, together with snd in addition to the mon?h~y psymenr of p~incipal and imerest payabk under rhe rerms o( t~i nore sav~eA
hereby, AAweyagor shall wr ro M«ro+~ e+~ ~+a+th vmil said note is f~lly paid, onttwelftA (1i14i of a sum equal ~o ~he ann~s+ 0~~~~m due fw (~r~, earend~d
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~ covenqe, and other hazard inavr~nce covering the mortgaged property, p~vs ta:es and asussmenta neat due o.~ :hc monga9td Droperty (all as e:~~mated by Mwt-
gayee) less sll s~ms already pa~d then/w, ~nd to be divided by the ~umber of months to elapse pna ~o the date wh.en such tsaes and ~sxssmenh sR~I~ Le;orrF
dtlinq~ent. Said sums shall be F~eld~ by Mutgaqee in trvst or credited to the principal of the loan, to paY sa~d insurance, u~ces, snd assessmenes ar+d shall be
applied on the payment thereof when dx. Any excess heW i~ tr~st by Mutyayee when said loan is paid in Fvlt ahall be ps~d ro Nbrr9~qor. w h~s ~ss:pnf, d
perw~sf represenqtivcs. In rhe evenr oI s defwlr w fwecbsure, ssid swm I~eW ~n tr~st may be applied o~ anY co~ts of damages wsta~ned ~n connecnc~ w,th
the colkction of the note secvred Mrcby wl+erher by suit, iwecloswe. w otherwise. Mwtga9ee i*wY frorr: time to time at its opteon w+%ve, and ~f~e~ any ~vcA,
waive~, ~einstate sny o~ all provisip+s hereof req~iring s~ch deposits, by notice to Mo+tgayor in writi~g. WI~~Ie any s~ch waiver is effecf, Mortqsqw sh~ll p~y
s ta:es, assessmenh u~d insu~ance premiums ss herein elsewhere prwided• ' %
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p, Mwtgagor shall comply with the prov"~sions of any tease, if this mutqage ~s on a leasehold. ~f th~s margaqe ~s on a condom~nium ~n~~, mo+tqaqw sh~ll
~ perfo~m all of maty~qoi s obligat~ons undcr the declaration of condominiwn or masrer decd, the by-laws and reg~larions of ~he condomi~i~m projec~ ~nd con-
~ stituent doc~ments. Mwtqapw further covensnb thaf he and the sssociation respons~b!e for ~he operat~on of t~e cw+dort~~n~um will observe aIl of t!~e WwiuoM
_ of tht said dtclarstion, and any amendmeets thereto, and of ihe Cortdo~uo:um Isw of tAe state, and wiN perform all obGqat~ons rhereur.der; and s f~ilure to do
~a so which is not cured within 30 days after noGce qiven by the mort9agee to the moriQayw and the sa+d associar~on shsll const~t~te a d~isv~t under fA~s mortyayt-
- Mortgsgw fwther spccifically corenann, but nW by wsy of limitation, tMt he ~nd thc ~asocution will observe ~11 of rhe p~oviseons of said declaration of coodo-
~ mini~wn relatinq to inswanc~ tovewge. -
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~ 21. Mwtga9or fvrther covenanh snd agrees that at the req~est of Mortgagee to fvrnish a sta~dsrd termite bond insurirq sg+~nst damsQe bY inlestation on s
;;Y rhe b~ild~nys now w hereafter located o~ the mortgsged WopcrtY. suth smounts and terms, snd with svth company as approved and ~equ~red by AMrtg~9ee:
~ and in the event Mortgagw does not comv~Y W~?h ~his covenant Mortga9ee :hall have the aarr.e rights to obtain same as inwrar.:e co-xrsge -u~der covmaM ~
; 3 hereof.
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~ °sooK 230 PacE 214 ;
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(Signatures on Reverse Side) ;
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