HomeMy WebLinkAbout0224 6. To perform, compiy wi~h and sb~de by Exh and •rery s~~p~l~eia~, a9r~emsnt, cond~~~on and co~~nant m sa~d prom~ssory no~~ and d~+d set fw~h.
7. H.~y o~ d,. •w~w e1 Too.y M.«n .•~«~.a a b. na aaro~y a~d h,ih p~id wi?hin NwnY 1J01 d~y~ e~a1 dtN ~M sanw ~~v~.~lly Mcony d:~ w?d wY~b1~,
or if ~ad~ ~nd ~wry NN ~iipul~tiom. pr~n~nN. conditioeu. M~d cov~n~nM o1 ~~id panis~ory eaN ~nd Mi~ ~orfWp~. p ~iM~r. no1 duN M~wnNd. cow~plied
wiM and ~Eid~d by. tM ~yq~p+N ~ww mM~~o+»d in uid prani~wry noN aMU beconw dw w+d o~Y~~ IwMwi~A O~ tINfNItN H~M opNOn of tM Morty~pM.
n fv11y ~nd cowwl~NN N if Hid ~9qr~WN ~ww of ~y ww otipin~lly ~tipubt~d a b~ pud on ~uch daY. Mt~~~9 ~n ~~id Mon~ii~orY na~ a M~~1n b M»
coM~~ry no~w~MuMndinp.
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8. To d~livN to u~d Matyagee, on w befw~ March tSrh of each y~ar, Ua rtc~ipb w1dN+un9 th~ p~ym~M of •11 taw(ully impostd ua~s ia ti,e prec~dinq
cal~ndu y~~r, and io d~liv~r ro sa~d Morrqaflc~, ncNpes widenc~nq the paym~n~ of •11 IiMS for puE~ic improvtmenn w~~hin oin~ty (90) d~y; afta tM sam~ sMll
becom~ dw and aayaEl~, and to pay u d~sch+rq~ withtn n~nNy io0? d+y~ af~ir dw dat~. ~nY rid ~II qovcrm~enul kvi~s th~t may bt m~d~ on ~M ma~p+q~d
Prop~~ty, on rhta morega9e w aoN. a~n any o+Mr w~Y r~wtunp I~om ~M Mor~qag~ indebt~dn~u uc~red Ey Mis mw~payr +nd il this condi~ioe De not compliW
wi~h a~d pafo.med. said mortqaq~e maY paY a~ch sum a iums which ~hall becom~ part ot tM debf secw~d by this mu~qay~, and shall bear ima~s~ tM raN of
u¦ pK cent. l6°0) aer u+num. p~YSb~e sem~-annwlly u~til paid a said Mw~qpe~ m+Y •I~ct thst u~d mortpaq~ d~bt tl~~upon bacom~ dw snd p+Y+bl~ fwMwifh,
9. It is furM»? cowmnnd ~nd ~prNd bY a~3d w•ti~s tM~ in ~M w~n~ 01 s~ui~ b~oq init~euNd w faulos~ ~Ai~ mwtp~q~. N+~ AI1or+p~p» ahall b~ ~ne~tbd ~o
pply N amr tin» pMdieq aucA foncbaw~ wi~ w Nw covrt havirp iw~sd~ction MNfOf ~q ~M ~ppane~n~ OI • fKfIVN o1 dl ~nd ~inq~rlM 1h~ nwny~~d prop~rq.
~nd of all eM r~nls, Incon~ti profiri. i~~ws ~nd ~~vw~w~ tlrrw~. frpw wMnowa sowc~ da~r~d: ~nd ~~uvon it it Mr~by ~apt~ssty cownw~~ed ~d prNd
IMf MN COWf Yyll forll~w~M ppOUM ~ IKNVM Of M~O nwr?9~yp WOpfnY. ~ii ~nY ~w~ri~.. ~nY oi sua~ ~~n:~. •~av.w~. Wari~:~, .~sva s..u .tv~..v~ a.w~vi, :ir.w
wh~~~o~vp ~p dKivrd, wi~A tM uawl pow~n ~nd duria of nc~iwn h lib us~s: w+d such appantwrn~ ~MII b~ nwd~ bp ~ucA cowt a a~ttN of dric~ riyhl
b ~M Nbrt9p~~. it~ ~uu~ssan. rpr~s~nutivw w a~s~OR+. y+d wi~haA nfM~nn to ~M ~d~pwcy w in~dpu~cy of ~M v~1w of ~M w~~r M.ebr mwq+p~4 =
or b ~M wlwncY a inwlwncY of ~M Mortp~ya. ~nd ~ha~ ~uch r~nt. pofiti. inco~. iuup ~nd r~v~ew~s sh~ll M~pplad b~r ~uch r~c~iwr w H» wYmam ol tM
~nonp~p~ i~d~Et~dr~s~, cwa r~d dw9M. accwdinP a tM adr of wcA cour~. i
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10. If slt a sMr Wrr of M~ property a an inrppt tMrein ia sold a tra~sferred by morppw without mortg~~'s priw wrinen cons~n~, eaclvdirg tM
crestion o( a lien a ci+tumbrsMe subordin~te ro tAia mwtgaq~, (bS ~M creat~on of a purchaa~ mooey secwitY ineaast (or Iw~seAold ~pplisnces, (c) • t~ana(er by
dev~se u descent, or by operat~on of law upon rM death oi ~ io~m tsrunt, w(d~ the 9r~nt oi ~ny k~s~hold interes~ of due+ years w Icss no~ cont+ininy ~n option
ro pvrchase. mwegayee mav, ar tts oprio~. declare all ~ha wma sec~red by this mwt9a9e ro be immed~arely dve and paYS~k. Ma~W~ee sh+ll Mw waiwd sud+
opt~on ro acceterote if, priw ro rM aale w eranafer, mortqaqk and tM persa+ ro whwn tl+~ property is ro be soW w er~nsferred ro~ch ayrsem~nt in writinp
rhat the credit of s~+ch p~rson ~s sarisf~ctory ro Mw~9+9~ +~+d ~^~~K~ P+Y~~ ~~M ~W~ by this mwtgaye shall be a? such ~+ts ~a Mo?tyaqet
shall request,
11. ihtl in M~ awnt tM P~Mnise~ MnEY maW~y~d. a~nY v+n tlwrwf, ?A~11 b~ condenvwd ~nd tak~n for puWlt uN u~d~~ tM Po~? o} «nina~t dow~~ii+.
~~y~ ~MII Mvr Nr riqA! a d~rn~nd M~t ~11 d~nrqn awMd~d for tM ukinq of w danuy.~ ro.«d pr«MS.s sM11 E~ pa~d a Nr Mon9.pw w a N~. .~wo~M~
eMn w~p.id on ~h~s mo.~w~ .nd ~h. op~an of N,. Mo.+y.y.. rn.r b. +vo~~.d uP~ tM wr~nb tast piy~bN Mw~on.
12. TM nwrtq~por bi~ds hiw~s~lf not to u~ct a p~~nit ro b~ er~ct~d ~ny n~w ~uild~nqs m the w~isN Mr~in inw~p~pd w ro~dd ro or Der~~ to b~ ~dd~d
_::s c! t~±! t.=.~:~ ~~s~±+h *~+aa* er e~ek~ «w cA~nqw w~a~tions in uid iiworov~~+h whid~ nrMri~tb eh~nO~ M» a~ a Me vs~ rhKw~, w~thprt j
r!» witNn con~nf of th~ Mortp+pN, and in tM w~nt of ~nY vid~tion a~na++W ro violaa dr~ sfipubtion tAis mwtp~y~ ~nd ~11 swns s~cur~d h~~bfr sMll iwr i
rnedi~tely bconr dW and tolbtt~bN tl 1M oWion of IM JNortp~pN. :
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1~. b is sp~ciP.ullp ~prMd tMt ti~ is of ~M ~ss~nc~ of ~hi~ contract ~nd tM~ no waive~ ol snr ae!ipation I~wndM a of tM oblip~tion ~cwed he~eby shstl ~t ~ny ~
rim~ M h~Id to b~ ~ wiiva ot tM Hrnu herwi o~ ot tM imtrv~nenf sacw~d her~bY• :
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14. li ~w~clos~x~ p~oc~nys of any s~cond mwtp~q~ a s~eond tnnt ~d or +ny jv~ro~ li~n of any tind shouW b~ ins~itvnd. tM Monp~e~ m~y. a ies op+ion, ~
tmrr~d'uHy or tMrNher d~clr~ tAis morty~p~ u~d tM i~d~Medrrs~ s~cwed Mr~bY du~ ~nd wrsW~ fathwiM. ~+d nwy ~t ib option poceed to iw~cles~ Mi~
mwepap~. - . - - • . . ~
13. To tM e:hnt oI tM ind~W~s~ of d+e Monp~qw a t!y Mony~q~ descnbed Aer~in a ucw~d her~by ~ Mortppe~ i~ t~eby s~+broya~ed w rhe Iien o~ ~
I~en~ ~nd fo tM riqhb of 1M own~n and Aolden M~ereof of ~~ch and ew~y /nortqag~ lien a alwr incumbr~nc~ on tM 4nd dntriD~d Mrein which is peid ~nd/a ~
utisii~d in whoh a in p~n ou1 of tM procc~ds of ~M Iwn deunEed her~in u a~cwed herebY. +~+d Nie ritPK„v~ li~ns of said ~nw~~qe~. lie:+a a other ~ncur~brances ~
ah~ll b~ ~nd Hw_ ssrr.t ~nd ~ach oi tMm hereby it preurved and sRall p~~s to ~hA b~ I+dd bY ~Ae Mwtpaqe~ h~r~in p s~curily fw Nr ind~bNdness to tM Mw~p~qk
hsre~n describ~d w hereby aacwed, ro tM s+~ eatem tly~ it wovld l+~~re Deer~ peserv~d and woufd liavs.bien pus~! a sod been held by tM Monp~9n had it been #
duly and reyvlarty nsiyn~d, x~rut~r~ed. s~t owr u~d deliva~~d ~nto tM Mortq~qe~ by ssyar~» d~~d of ~aaiqnn»nt noew~M~sundinp tM f~ct tlut tM sam~ may be :
u~~sf~~d ~nd c~nc~ll~d of ncord it b~~nq the intentton of Nw part~~a Mre~o tMt M~ sarn~ will b~ ss~isfi~d and c~ll~d of ~~cad by ~M holders tAe~eof ~t a~bovt ?
r~~ un~ of tM tKWdiliy Ot thif moriq+pe. ;
16. To paY all and sing~lsr the coats, charges and e+pcnses, inclvdin9 lawyer i fees, rcasa+sbly incwred q psid at snY time by the Morty~gee, bct+use of
ihe fail~re of the Mortgaqor to perfwm, compty w~th and ab:de by exh and every the stiq,lations, agreemer+ts, co~d~t~ons, u+d covenanfs of said promiasory
nore and this deed, u e~thcr, snd every such par~~ sh+~~ be~r interest from dafe at rhe rste prov~ded in said pom~ssory nore.
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17. Wh~n ~ny ~narnt of nwMy b M W~d bl/ IM Illlortp~qw to tM Mor~paqw und~r ti» Mrms Mrwf sh~ll bt in de(auh, w ahovld tl» MwW+9w d~(w!? in ?
any of tM otha ta~. provisioro a conddriaa of tMis Morlyap~, tMn ~nd in Ma~ c~s~ ti~e Matyaye~ shall h~w 11w ri9ht, withoul not;ce w tM Mwtpayor. to ~
co;~ect and ~ac~iw froru any leernt w Itsu~ of said morty~yed peinises 1M renb, iuws snd prof~ts of tM rwl est~t~ hereby mwtyiy~d ~nd tM improvern~nts F
rA~reon, and to qivt prop~r r~c~ipls a~d acq~ittancq tl~uefor, ~nd ~fter piY:~p all commissions of ~ny renNl peiM colkctieg th~ s~~ne, and ~ny rwson~btt ~ttorney's
~u
! fees snd oNw necessary ~ap~ns~s incwred in tdNctiny sanw, ro appFp tM proceeds of such colkct~ons upon ~nY indrbt~dness, obl:y~tan or liabil:ty, ot ~I+e -
Mortq~qor hereunda. TM riqht qranted ~M Mor~p~ye~ w~dt~ thia prpr~ph sMll b~ in addtwn ro. ~nd ahalt not lirnit w rptricr, anY othe~ r~yhf a n9A~s p~anted '
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~ fhe AAo?tpayN in Mis Matyp~.
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~ 18. tf th~ Morty~yon at the linr of mtkirp this Mwt9p~ w+ubspwM thereto uk~ out li/e inswu~c~ desiqnatirp tM Monq+qe~ f+erei~ ~a btne(ici~ry wiM • F
compa~Y ~pproved by fM Mwty~pe~ a usiqns policip ro rh~ Nb~tq~qe~ fw IM pwpose oi setw~nq IM ~norrp~qt loin I~eteby senxed. ~M~ the M~wty~pe• ~MII
~ hwe tFK riyAt to paY any pt~nium attrvirg vnd~r said policits. ~nd ~II svms so eapendtd slull M ~dd~d ro~nd b~caM • p~rt of eM pincipal indebtedn~ss secvr~d
~ by this Mortp~q~ artd ~hall b~ p~id by tlw Mwtp~por ro ~M Mortq~qee in hwlw pwl cwnecvtive monthfy inst~llmeMS, tM fint monfhly ient~llment to b~ psid ~s ~
t
~ part of end in addiriow to th~ ma+M+ly psymeM dw ~n+da+ tAia Mwtq~qe in tAe first c~lend~r month foltow~ny tM upend'inq o} sa:A sum. Such a~wn w~~perded
~ ro bear interot at tM rat~ at which imuest is paY+~ s+id w~~W~ ~~btedness u~d ~M I~en o~ this Mortq~q~ sh~ll eaand to snd secw~ the ~wns w cspeoded
r royerM? wiM inte~at ~hereon as he~e.nbefw~ povid~d.
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3 19. At mortqagee's option, foqether with snd in addition to the monehty payment of principal and ~nteresf paysbte ~nder the terms of the note secwed
~ hereby, Mortpaqor shall paY to Mwtqaqee exh month ~etif ssid oote is fvlly paid, onrtweifti~ ii%i2i of a swn equal to tAe annua: G~2ni~um di,e for f:re, e::ersVe3
~ covtr~ge, and other hazard im~~~nce coverin9 the mwt9+ged p~operty. Pl~s taxes and assessments neat due on the mortqaqed property (~It as est~rr.ated by Nbrt-
~ gegee) kss alt svms alre~dy psid therefu, and ro be div~ded by ~he number of monrhs to elapse priw to ~he da~e wl,en such ta¦es and s:sessmenrs shall become
~ delinq~ent. Ssid wms shall bs held by Mo~tgsyee in tr~st w ueditcd fo the Principal of fhe ioan, to psY said ~nsurante, taxa, and asscssmenfs and shall be
~PDlied on th! paYment thereof when dtx. My e~cMS heW in tr~st by Mwtgagee when said loan is w~d in full sAali bt paid fo Mottgsqor, a his assipns, a
3 personal representstives. In th~ eve~t of a defa~lt w foreclowre, sa~d sums held i~ trust ma~? be applied on sny ~ cosh of damsges wsfa~ned in cw+nection with .
~ rhe collection of the rate secvred hereDy whether by suit, fwecbsure, o~ otherw iu. Nbrtgsgee may from time to t~me at ita oprion w+ive, ~nd airer any svch
~ waiver, reinstate anY e? atl proviirons hereof reqviring wch deposits, by notice to Mw?ga9o~ in w~iting. While ~ny sach waiver is in e1(ecr, Mor~gagw shall paY
~ ra¦es, useasmmri and insura~ce w~~~s as here+n eluwhere Wov~ded•
20. Mortgayp shall comply with the p~wisions of any lease, if this mutgage is on a teasehold. li this morrgaye ~s on a condom~n~um ~n~t, mo.tqsyw sMll
G perfwm all of mufq~gor's obtiqations ~nder the decluario~ of condom~niwn w mastr deed, the by-I~ws and req~l~fions of the condom~nium project snd co~-
~ sr~rvent docvments. Mwtqaqa f~nher covena~ts thst he and the associsf~on respo~~+ble fw ~he operat~on of ~i~e condom~n~um will obxrve ~tl of the provisions ~
s of the said declaration, and any ~mtndmMls thercro, and of the Condorni~ivm Isw of the state, and will perfwm ali cbligat~w+s there~nder; and a f~ilu~e to do ~
~ so which is not cwed wirhio 30 days sfter not:ce giveo by ~he mwt9agee to the mortgaqw and the said sssocisNo~ sha~l constitute a defsvlr under th~s mortgaqe.
Mortyagw furH~er specifically covenants, bot not by way of limitation, tMt he and rhe sasodst~on will observe aIl of the p.ovisio~s of said declar~non of cortdo-
mi~ium relatin9 to inwrance coversge. .
~ 21. Mwtysgor further cwena~ts and agrees tha± a? the req~est of Mongaqee ro fvrnish s sundsrd termite bond inswinq sgainst damsge by infcst~tian on ~
rhe b~;ld;nqs now u hereafter located o~ the mortg+qed property, in such amounts a~d terms, and with s~xh company ss spproved a+d reo~~red by Mwtgaqee;
and in the eve~t Mwtgsgor does not comply wirh this covenant Nbrtgsgee shall have the same rights ro obiain same as ins~.an~e coverage under covenanr ~
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BooK 230 PA~E 224 ~
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