HomeMy WebLinkAbout2583 MI~~M11M povrwo.
6. To pN1wm, coenpty w~M ~nd ~b~d~ bY •xh ~nd ~ver~ ~~~pul~~ion. aQ~Nmen~, cond~non and cown~n~ s~~d pomn~aY ~~^d dNd ~~t fwth.
7. u«rr of N+..w~. ei .we.r ~«•~n r•i...d a b. ~a aeMwM .~a hdN w~d w~~hin Nr~ry 1~01 d~tl~ m,~ dnr N» un~ ~wNd1y Mco~w~ d~ ~nA wr~t~.
a il wcA w~d wvy ~M ~~~oula~iorw ~wM^~+. ~a^d'~'aa. Md cov~nww~ oi utd woww~w~r noN ~nd Mi~ rwa+9+9~. a~~Nw. M~ na dvh v«1a~wd. carol~~d
wiM ~nd ~bid~d bt?. Nw ~YV~w~h ~ww nww~wrwd i~ u~d aomiawn not~ ~MN b~caw~ dw ~nd wY~ON forMwiM~ a Nw~wlbr N ~M uW~an of Mw Mor~~q».
w fully ~nd cawoNaN N Nid ~p~N ~ww ol n~a»y ww a~y~M st~puM~~d a E~ wid on wcA d~y. ~nlnh~nY ~n ~sid pia~NOry ~ a Iw~in b eM
~ .
c«?N.r„ nowr~ll,.tandina ~ , ~ .1
To d~l~va ro s~~d Ma~9+pe~. a b~fa• Much IS~h ol ~ach y~u. ~~a ~~c~~P~s wid~nunp tM paY~~ ol all 4w(ully irnpoNd a:~s fa ~M p~~c~nq
ul~ndu r~~+. and ro d~l~ver ro s+id Matqayee. tKfipts «~d«~c~~w d+. wr~~ of ~II I~~eu for publK ienpov~nts witl+in n~Mty (90) d~Y~ a1tH tM ~~r sMll
p~cwn~ du~ and Parsbl~. and to P+Y a d~scharq~ wi~hin ~ieNey (90) days ahn dw daM. ~ny ~nd ~II qov~rm~~nul Isv1n rMt m~y b~ n++d~ u~ tM mw~WWd
ppp~rfy. on fh~a mal9ap~ or non. a~n ~ny otM~ way ~~fultinq /~an tM 1~1w~9aq~ indebl~dness fetw~d by :his mwty~q~: ~nd il Ihis tond~lron b~ not compli~d
wiM snd p~rfwm~d. wid ~na~9a9N ~^+r P+Y ~h s~+^~ « i~ whicl~ sMll b~caw~ put of tM deW s~cw~d bY ~his mw~q+9~. and sMll bwr If1iN~f1 tM ~~N o1
f': pK cent. (A'/•! vN annum. WY~bI~ sk++i-annwlly until o+id a said JNor~yape~ rewy ~iotl tlul uid mafyp~ d~W ~Mr~uPOn b~com~ fiw and WY+~ faMwitA.
9. h is funlw co+Mw~~d and ~w~ bY ~~'M ~f in ~M w~n1 ef a~uit bHnp i~snrrNd a iw~cla~ Mi~ war~W9~. ~~~WVN ~11 b~ ~ntifbd W
apply ~t Mw ~ vM~dinY ~ud~ far~clww~ w~t a N» cou.t MvInO iwi~fiiaan Mawf fa tM ~vapn~m d• r~c~ivw ef ~11 and slnpu4r ~M rww~v+9~d w~b.
and ef dl IM nnM. intoMM P~M. i~sWS ~nd nvMw~ M~~oi. fron~ wMt?o~vr/ fowc~ dKiwd: and MN~uOOn it h AM~bY •,p~ssN ~^~^qd ~nd ~Wwd
~Me dr eewt J+~U fad~w:~A appoin~ s~~v~r d wid nw~ty~q~d pow~b. ~11 ~nd ?inqular. ~nd of ~udi hnh. inco~, wofita, ::wM snd nwxw N+w~o1, haw
wA~MO~w ~ourca daiwd, wiiA Nr u~wl Perws ~nd du~iN ef ncwwn iw lik~ use~: ~nd sucA +voo~nt~n~n~ ~Aall b~ m~d~ b~r aucA court a a nw~N+ of sMict ~ip~M
b M» Ma?w9N. if~ ~~+ccwsor4 Mq~l ~~~+~ive a+s~~qru, and widau~ nfN~nn a ~M ~dqwcY p~Y o1 Mw wlw of tM a~M ~~M? ~w~p~qed
a~ a ~M wlvMCr a ieuoM~cY of Nr Mon9Wa. +nd M~~ a~h ~N+~, profcb. incow». iuw~ w+A rw~r.~.w~ aMll b~ ~ppti~d Mr wd~ nnivw a ~M v+rm~m d Nw
~qrty~p~ ind~AMdna~.. cwb ~nd cM~p~. ~ca0~0 a Mr ada o1 wd~ cowf.
10. If all o~ ~M Wrt o( tM propatY a ~n int~rat ~Mr~in is wld a truufe~nd by ~naqa4w without matp~qe~'s pr~a wrin~n conseN, ~acludieq I~) tM
cr~~tion of a liea w e++c~,nbranc~ s~+bwdin~n to this mwtWp~.- (b) ~M treation of • purchas~ moneY secwi~Y ir+?pest fw hovi~old ~ppliancp. (c) • tra~nfK by
d~vis~ q~ d~scent. or bv ~rarian of law ~rpon th~ dr+~h of • iaot ten~u, w(dI th~ 9rant oI ~nv k+s~hold inte«st of M.es Years w tess nol cont~ininq an optwn
ro pwc~se. ~+w?9a9e~ ~nav. +t 1~i cP~~+. datu~ all H+~ svms secw~d by this mwtq~qe to b~ anm~d~ately dw and paYa~N. ~tqaqM J++11 havr waiwd such
option Io atcelerate if. priW ro Me sale o~ tranafN. mortqpte and M» PNSOn to whom HN proMrh/ is to be so~d or tr~nslt~r~d ~~xA prkmenl in w~ieinp
rhat tM credit oi such persoo ii ut~sfx~ory ro Mwqaqe~ +~d thn ~M ~^Nr~st p~Y+b~ M'° s`u'a ssc~'~d Dy d+is mwtqay~ shall be st such r~e~ ~s Mortq~~
•hsll rpvest.
11. 1hN in ~M ~vent 1M w«nis~s Iwrebr n~aq~9~. o~ ~nY v~ sAdl M cond~nr+ed n~d I~k~w fw w~k uM unda ~M oo~ oi ~nwn~M don~~:n.
IA~ Mlw~wo» ~1 Mv~ Mr ripN to d~w+and rhN aH drn~p„ aw~rd~d for dr utirq of w d+n~~ a srA o~~sa ~h+ll Wid a M» Mor~o~0» ~P w Nr weow~t
M»n wiprd a+ Nw ~wrq~9~ and ~t ~M op~o~ d tM Morfp~yM err ~ wP~~ vow~ tM wY~w~nb lut patr~N tMnon.
12. iM aw~q~Ya birwl~ 6iw~~M noe b~ a o~wre te ~ NKf~ YY MN buildnqs on tM P?~~ ~'tpp~d a w~dd a a v~*~nit to M~dd~d
a aw ot tM ~aistinp wnprovNm^b tlw~on a awl~ r?Y ch+npM or ~INm:ons in a~id imaw~nwnts whicA nw~uialy clw~Y~ N» wn~ o~ fM us~ shKw1. w~N+a~
IM writNn car~nt o( ~M Mort9w~~, and in 1M Mnt of ~nY vid~rion w~n~mp~ a violaN thif supu4tion thi~ narty~y~ ~nd ~N svma arcwed AwebY sMll ie+-
w~dutely b~caw~ dw ~nd coll~c~ibb N/M aWian et /M Morty~p». .
1~. H is sP~ifiullp aq?Nd tMt ti~ h o( tM ~aNnc~ of this conh~d ~nd tAa~ no w~iver of w~y ob:~Wtion I+N~~ a of Mw oblip~tion ac~red lwr~br alull ~t anY
tinr b~ MId w b~ • w~iw of Mr wnr Mewf w of N» iroerw~wn~ uew~d Mr~by.
lI. If foncbsur~ M«~d~ ef ~nY wcond n+ortap~ w s~cond hvst d~~d or ~nY iuruw IiN+ oi ~ny kind should b~ irotirond. tM Morrp~4e~ nwY. i~s oW~oe.
imnwdi~NN w Nwwffe~ d~clu~ tAis ~wwW+9~ and ~!w ind~b~neu wcwed MnM dw and wYabh tatAwith. ~nd wrY +t i» oDtion aoce~d w(w~clos~ this
mw~0~p~•
13. Te tA~ ~:Nnt e~ tM ind~W~dn~ss d fM Mat9+9a b N~ Nlort9+ge~ dnu~Md M+~in a seax~d hereby ~M MortW9a+ is herebY svbro~Md b the li~n or
li~eu snd to 1M riqhb of N+~ owrwt and hddus tlwreof o/ ~+ch and ~w~Y ~~q+q~ Gen a WMr intumEranc~ on tFN I~nd dwtrib~d Aa~in wAi~h k Wid and/a
fU
s~tbfi~d ie wMb a in part ow of Nr procsedi of eh~ IoN+ dncr:bed I~u~in u s~cvwed haebY, snd M» resw«ive liens oI said ~w~9+9~+. I:~ns a aha inc~mb~ances
sh~d b~ ~nd dw_ wr.~ and wcA oi tha+~ Aaeby is waawd ~nd sMll psss a~nd b~ Mfd bl~ ~~W+4~~ Mr~in ~s s~cwity fa Hr indeW~dn~+s ro th~ Mon9~9«
Mnin desnib~d a he~eby a~cvrid, w ds~ ianr e¦tmt Nvt it wwld hw~ been p~ur.r~d and wro~d hsve Eeen wsw~ a ~nd be~n Mld M~ tM Mo?tp+~ Md it been
d~+N ~nd rpul~ry as~9Md~ M~mfand. set over and deliwr~d vnw th~ Mort9+9« bY s+O+~~n de~d of ~uiy~M notwirhstandinp tM fsc~ that fM sxn~ may be
satisli~d and curcdkd of ncord, it b~:nq t1w inuntion of tM Pw~ies A~rero tMt ~h~ snm w~ll b~ utisfi~d u~d c~nc~lbd of r~cad by :M hold~n Nwrwf ~t w abou~
tM ti~ of th~ ntordny o~ this nwrfq~q~.
16. To psy stl snd s~nyulx tM cosb, char9e+ snd eaD~^us. '^dudirp tawyM i tees, reasonsbM incwred or paid at anY Kme bY tl+e ~M°rt9+4~~. of
ths fa~tw~ of ths Morty~yw to perfam. comp~y with and ~bide by each snd e+rery ~hs :ripv4tions, ay.eemcnfa. condltions. and cover~aMS of said promissory
~ete and this deed, a e~tF~. +nd evertr such WY~^t shall bear inte.est from date at ehe ~ste p~ovided ~n u~d promisswY rwh.
17. Wh~n ~nY sn~o~ of woerY b b~ O~d bY tM A~o~p~9~ b 1!r Mbrt9+9N urw~ th~ te~mt Mraof sMll b~ in de(~uN. w should tM JNorr9~9o~ dttwN in
amr of tM o+F~r f~nu. P~orisions a condiriom of Nws Mortp~pe. M~n ~nd :n th~e us~ fhe Morty~ye~ sMll Mw ~iw riyM wifhae noGc~ ro Nr Mortyspw, w
coltact and racoi~ feas ~el/ hmnt w IessN of a~id ~wort9+9~ v~~~es fM ~~nh. iuues ~nd wofits of tM rwl esqr~ hereby n~wtq+pd s~ed ~M iinprovem~nn
tMrea4 ~nd b 9~ D~~ r~c~iWs snd acW~n~nns tMr~fa?, ad ahe~ WYinq •II com.nissio~s of +oY renql ~penf cotkctinq tlr s~~. and ~nr r~asonsW~ ~norney'a
f«y ~ a~ ~y~ry •ap«pq incvrrad in cdNctirg s+nr, a+DD~Y th~ proceeds of s~ch colkctian upon ~nY indebNdn~ss, obliyation a liabilify, o( th~
f ny r~q ~ µp~~yN w~r this p~rpr+ph y!u II b~ in ~dd~tion to. ~nd sh+ll no1 lie+it or nsnict, ~ny otFer rpht or riyhp panted
~ tM Mlorty~qN in this MOrtp~q.
f 16. If IM M1orq+qon N tf~ tirn~ of inelirp tAis Mortpp~ a subs~t thcr~?o t~k~ out lii~ insuranc~ d~siyMti~9 tM Mwt9+4N herHn ~s ben~ti~wy w~th a
~ comP+~Y ~Dwoved bY tM MbrW+9N or assi9ro D~icies fo tlw Mbrtq~qe~ fw th~ w+~vos~ oi ucw~n9 Nw n+orty~p~ iwn her~bY secwed, then tM Matp~ge~ ~MII
Mve fM ~iqM to phr ~nr PrMwiNn aecruinv undw ~aid pol~cies. and ~II w~na so espended shall b~ add~d ro rw! b~carn~ s Pw~ oi N» pincipal indebtedness a~cwed
by fhis Maty~p~ +ed ahsll be p~id by tM MatW9a a fM M~w~9~9~ in twetvr pwl consecvfve er~~N ~snllmenn. _tFw fin~ ~nomhlY installm~n~ to b~ wid ~s a
~ pa~t oi tnd in sd~rion to Nr nwn~hb va7~~t du~ ui+d~r Mis Mw~9i9~ in tM fint utendsr month folbwinp tM t:pe~+d'inp of s~id swn. Sucb swm w~rD~~d
~ ro besr ~n»rnt at•tM raK ~t whicA interes~ ia qY+~ P~~ipsl ind~Wedness ~rd tM Ii~n o/ tAis Mwlp~p~ swll ~a~a~d ro u~d ucw~ ~Ae surns w e~ptnded
~ roq~~Mr with interat ~Mreon a her~r~befa~ D~~vidd.
19. At moAyagee'a option. together witl+ and in ~ddit+on to t1+e mw~thlY PaY~^t of principal and imerqt paYSble under the rerms o4 the note secwed
~~by~ µ~~~yp ~ha~~ p~y to Mortq~gee esch month until ssid nme is fvlly p~id, onrtwelfth (1/12) of ~ sum eawl to tMe snnual pre.nium d~e (or fire, e~~ended
coversg~, ud other havrd iru~rance coverin9 tM ^art9+9ed Wope~~Y• P~~s tsses and ~ss~saments neat due on tht mwty+9~ C~~~Y {all as est~mated by Mwt-
qpee) less sll suns slready W~d thaefw, and ro be d~~ded by the nwnber ol mo~+ha ro elspse q~or to tM dau when such ta¦es u+d ~uessments shsll becane
delinquent. Sa~d sums sha~ be he~d bY ~~9+9K rrust or ued~ted to the Princ~D+~ of ehe lo+n. ~o psY sa~d insw~ce, tases, and usessments and shsll be
~pplied on the pYma+t tMreoF when d~e. My excess held 'e~ t:~rst by Mwty~qee wAcn said ban is W:d in fuH shall be pa~d to Mwtgayor, a his sssigns. a
peraonal represent~t~ves. In ths even~ of a defwlt w fwecbwre, ssid wms he~d ~n trusr m~y be app~~ed on any cos~s of damsyes wsra~ned in connect~on with
~he colkction of M~e note secwed hereby wMerher by soit, (weclowre, or othe~wise. Mor~9+9K ~^+X ka^'~~~ to I~me +t in oprion wa~ve, ~nd a(ter ~ny a~ch
waivN. reinstate any o~ all provii~oM hereof req~iring such deposits, by norice To Nlwtqagw in wririep_ Wh~k any stxh w~iver is ~t+ e(fett, MwlQagu sMtl WY
Nxes, asseaymenb and inwrance premiums ss herein elsewi~ne Wovided-
~ 'p. Mo?ty~qor shall conpM with the porisions of ~ny kau, if this mortysge is on s leasehold. If this mwtq~qe is on a.condwni~~~rn vnit, rnortqsgw sMll
perform all of mort9syw i oWiqations v~der the dect+rat~oei of condan~nivm a master deed, tF~e by-~+ws snd req~l~t~ons oi the condominiwn project and con-
stitumt documents. Mwtq~yw fwther covenants that he and the usocisian respo~sible iw the opc~anon of the condom~n~wn will obse~ve all of rhe p~ovifiwn
~ of tM said declsntion, and any ~mendinents Maeto, and oi rhe Condom~n~wn law of the stste. ar+d will perform all obliqarions ~hereunder; and a fail~re to do
w which is not cvrd within 30 dari sfte~ ^ut'ce q~ve^ by the mortqagee ro the mwtyayw sr+d the s+id associarion a1ut1 co~stit~te a defavlt vnder ~his morrysy~.
Mortgagor fvrrMr spec~fiulty covensnts, but rat by way of limiqtion, that F~e and rhe assoc~at~a+ will obse~ve aH of the. pov~s,ons of s~id declaration of condo-
~ miniun nlatirp to inswance covs~~ge•
i~
; j 21. Mwfg~fla fi+~Me~ cove^aMS a^d ag~ees th~t at Ifie requesl of Mutqsgee ro iwnish s stsndsrd termife bw~d inwring sysinsl d~maqe by iniestation on
t tM bwid;nys rww Or I~trNffN loc~ted on ??u mwt9+9~ W~~Y, in such amow~ts snd tams, snd with wcfi compa~Y as ~pP~~~d +nd reqvired by Mwt9+9K:
~ snd in tht went Mortgs9w does nor comP~Y with this covenant Mwtgagee shsll have ~I+e ssme riqhts ta obtain same as inw~ance coversge under coventM
_ , ~3 hereof.
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~ 800K ~ ~E
(Signatures on Reverse Side)
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~,s~ k : _ .