The URL can be used to link to this page

Home My WebLink About2851 euDordlaatlon ot .Ay ie... or .u o~ apy p.~e or w. P~op~rty to aar py cerUped mall ~ddeused to Borrow~e st Borro~r~C's Addnss ~tat~d I~en ~uDordlnat~ to thla Hortsap. Upoa IwAd~~'• rqud~ Sorrow~s Mlow. excrpt !oe anr aoqc~ reQulrtd unde~ parwjraph !6 h~saot to ehsll asslsa to I.e~d~r u addlUon~1 NcuMtr all 1~aNS now ~l~tl~ bs ~fv~n W Hoeraw~e !n tA~ maaa~e preaerlb~d by appllcabl~ kwr. or hereaft~e eaads ol aU oe any part of tAe Peop~rty. Ai u~ed ln Aay aotlc~ provW~d toe Ia t!w l[orts.~ shall be deem~d to have thtn para=nph 10. the t~rm "leas~" shall me~n "~ubl~w" tt tbla M~n si~ea to Boreo~r~e wh~n slvut la tL~ manner deslsaated tienla. Mortgaae oa a leaaehold. doeew~~n wi Y!. TM ¢ovenanb aad asewm~ata Dersln coatala~d tt~medies 17. All remedtes provld~d la tAb ~[o~~ an dU- Asd=w~ H~yw~: sAwll Dind. aad tbs ri=DL b~nund~r sl~W tnurs ta cumut~d~~~ tloct and cumulattv~ to aay oW~r el~bt .oe rem~dp JNwt awi the re~pecdve ~ucca~oa and aa~i~u ot Lend~e Rad under this 1[oetsa`~ or aQord~d Dr law or puity. B~~enl Borrowar. ~ub~ot W the pe~ovldon~ ot pan~nph f0 and may De e:ercised con~urKatly, independ~atly, or ~uccesslvely. I.IWLLy; bersot. AU covtaanf~ and aRreemeats ot Boreowee C~ptlou shall b~ ~olnt aad ~evenl. Tbe captloru wad h~wd- r:Rect ot 18. In the e~eat of the eAactment ot any law d~- lnp ot th~ paea~aph~ ot tbb ][ortjap wn for chen~es In ducttna trnm the value ot LA~ Prop~ttr any tnort- convenlena od,p ~nd aer aot to b~ used to 4?terpnt or deAae tb~ Law~~ Ae~~udlns Br6e lten thereon, or lmpwtns upoA th~ Lender the pcovWoas h~trot. Ta:rtloa ~t ~ paymen! ot aU or part ot th~ tues. cb~r~e~ o~ atort~a~ aeaa~nenb previously p~id Dy Borrow~r punuwat to TW~ torm of maltftamUy mortaase complnes thls Yortgar. or cDanglaa tb~ law relatla~ to x~~r Y[IIIO!'Iq COYOA~L LOi AILIOMI IiN iIId AOA-unitor~n thc tazation o[ mortgages. de0ts secured by mort~ases or Leader'a x~~~~ covananU with limited varlaqons by ~usi~dlcUon to ~ntereat In the Property so a~ to Imia~e new tacldenb ot tas on Leader, ~r~a~ y~~,~ ~~qtute a uniform securtty 1n~trumeat eoverin~ chen Bormwrer shall pwy ~uch tue~ or a~aeaamtata or sball relmbuew ~ Prpperty. Thls ][ortaaae shaU be goverAed Lender therator; pro~ided LLa~ Lowever. i[ in the optalon ot couwel by the lsw ot the ~uiisdicdon fa whteh the Property ~ to I.ender such paymeat cannot lwwfuAy bs mad~ Dy Botrowee. thea V~~ted. In the avent that any provision or ctause of this Mort- ~ Lender aoay. at Leader's optlon, declare all ot the auma ~ecuced b7 thie ~[ortgaae W be Immedlately dus and payaDle wlthout prior aotic~ B~BQ or the Note conIItcb with applicable lsw, sucA connlct sAall to Borro~ver. and I.endee may invoke any remedtes perraittad by aot aQect other provisfons ot thf~ ~[ortaa~e or the Note wA1cA paragrsph 46 oi lhis ][ortgaaa caa De glven effect without the conRfcUng provfsloa, and W thls end the psovlstons at ths Yortaase and t2~s Note ue declared Acceler~tNw lY. I[ Borro~ver shall voluatarUy 1lle a peUtloa nn- ~ pe Kvenble. In the eveat that u?y applicsble law 11aniUag tbe tn C~se ~t der the Federal Baakruptcy Acb or under any state ~ount of Iptere~t ar other cbarse~ permltted to pe collected imm f3orrower's bankruptcy or Inaolveacy act oe an wnswer 1n an go~wer Is interpreted ~o tLat any charge pmvlded for In thb In~ol~•ewc~ lavoluntary proceedins admitttna In~olvearyr or in- YoK~e or 1n the Note, whether considered ~epantely or to- aDiltty to pay debta, or if Borrower ~all fall W oGtain a ~acatloa or stay of lnroluntary proceeding~ brouaht for the getber witb other eharge~ tbat ue con~ldered a part of thla reorgaofutlon. dlasoludon or 11quWatfoa ot Borrower, or If Borrower l[ortaage aad Note transaeUon, vlolatea sucb la~. aad Borrower shall be ad~udged • bankrup~ or 1i a trustee or recdrer shaU bs is entltled to the bene~t ot ~uch faw. such charge fs berebx. reduced appotnted for Borro~rer or Borrower'~ P~P~Y. or 1t Borrower aball ~~e eztent neceasary to eUminate aucl~ violatlon. Tde amounts, it make an aasf~nment for the benest ot Borrower's craditora, then ~y~ proviowly patd to Lender in ezcess of the aawunL payable to L,ender may. at I.eader's optloa, declare sll ot tbe auau iecured by knder pursuaat to such chaeges as reduced st?aU bs applied by thta Mortasgs to be lmmediately due and p~yabls wlthout prfor I,eAder tp reduce the prtactpal of /he indeDtedncss evldenced by the notlce to Borrower. aad I.ender miy IRYOI[Q ~y remedle~ permitted Nota by parasraph 46 oi tht~ Yortaasa . Qonstrseti~a 24. I[ the iadebtedness evldenced by tAe Note ts Tr~nsfe» ofr 20. On tnnsfer of (a) all or any psrt o[ the ~ap ~OrISIOAi intended to Snance the conatruction of imprnve- the Propert~ o~ Property, or any inter~st therein, or (b) bene8cial menb to the Property, Borrower agrees to comply IIeneActsl interests ia Borrower (it Borrower 1a aot a natural ~;td the covenants and c~tdltion~ oi the Loan Agreemen~ whlch ia Interests In peraon or penons but is a corporatlon, partnerahip. hereDy inrnrporated by reference in and made a part oi thls 3[ort- sorrower; trust or other 1e6a1 enUty). Leader may. at LeadeCs ~e ~vances made by I.ender pursuaat to the Loan Agree- heKUmption option, declare a!i oi the ~ums ~ecured by thls ][ortgege to be immedlately due and payaDle with- mept ihal! be indebtedness o[ Borrower aecured by this l[ortga~a ~ut prlor notice to Borrower, and Lender may Invoke aay remedtes In case of breach by Borrower of the covenants and oondlUons ~,ermitted by paragraph ~b ot thls l[ortaage. Th1s optlon sLalt o[ Lhe Lvan Agreemea~ Lender, at Leader's optlon, wlth or wrlthout not apply In case of eatry upon the Property, (i) may lnvoke any ot~ the r(ghts or € (a) tranafers by devise or descent or by operaUon of law upon ~~~q p~vided in the Loan Agreement, (fi) may accelerate the ~ tAa death ot a.~oint tenant; iums secured by ttsb Yortgage snd Invoke t6ose remedies provided ln ~D) tnnsters wden tbe trana[eree•s credlt ~vorthlness aad maa- p~~aph ~5 bereof, or (lii) may do both. Prior to completton ot the agement abtlity is eaUsiscWry to Lender aad the transferec imprnvemenU, eums dlsbursed by I.ender to ~rotect tAe securtty of has exccuted, prlor to the tran~ter, s written wumption ~V Yortaage np to t6e principai amount ot the Note ehap be treated agreement containfng such teruu u Lender may require. !n- r a cludipg. [f requlred by Leader. an lncreaae !n the rate of ~s disbursemenU purauant to tl~e Loan Agreemeat. and auch suma ' interest payabie under the Note- dbbuncd by Leader in ezcese o[ t6e prlncipai amouat of the Note ' ~ ~all be additional indebtedness of Borrower secured by thia Yortgage. ! (c) the 6rant of a leasehold interest fn t part of the Property of ~ { three years or less not containing an option to purchase (ez- A1l such aums sball bear fnterest irom the date ot disbucaement at the i cept any intereat !n the ground lcase, if thls Yortgaae nte ststed In the Note, unleas collection from Borrower of interest at ~ is on a leasehold) ; such rste would be contrary to applicsble law in ~vhich eveat such I td) trana[en of beae8cial intercab in Borrower provided Wat amouaU ehall bear iaterest at the highest rate v~hich msy be col- I such tranafers, together with any prlor traasters of Denefldai ~e~ted irom Borro~rer under appliable lsw, and shalt be payable upon ; lnteresb la Borrower, but e:dnding transters uader subpara- rotice from Lender to Borrow~er r uestin cnt tderetor. ~ M B PaYm ~ graphs (s) and (b) above, do not result fn more than 49~. ot If, atte~ the commencement of amortizatton ot the Note, the the beaeDcial tnterests in Borrower having been tranaferred ( siace eommencement ot amortisation of the Note: and Note and thU Yortsage are aold by I.ender, from aad atter such (e) trsnsfen pursuant to the Ant paragraph of psrasraph d hereoL ~e the I.oan Agreement shsll cease to be a part ot this Hortgage ra aad Borrovrer ahaU aot assert sny right ot aet-off, countenlsim or !~otice 21. Any notice to Borrower prnvided for in thL other clalm or detense arising out ot the Loan Agreement agalnst ; ~[ortgage ~hall be givea by mailing such notlce the oDligatlons ot the Note snd this Mortgage. ~ Nox-Uxu~oaa~t Cov~x~rrrs. Borrower and I,ender further oovenant and agree as foIlows: ~ ~cceterailo~; Z6. Upon Borio~rer'~ Dreaeh of any eo~enant or 1n paragraph 3 hereof with the balance, so long as no such Dreaeb r g xemedfe~ agreement ot BorroWer in tDl~ ][ortga6e, includlns has occurred, to the account of Borrower. Borrower egreca thst ~acL r ~ the covenanta tn pay when due wy ~ums ~eeured teasnt of the Proparty ~hall pay such renb to Lender oc Lenderi { ~ by t~ls ][ortgage, Lender at Lender'a optlon may declan all of the agenU on Lender'• wcitten demand theretor wltbout any liaDtUty on eums sccured by thl~ )[ortgage to be immediately due aad payaDle ths part o[ aaid teaaat to lnquire furtber u to the ezUteace of s default ~ a tthout turther demand and may foreclose thb l[ortg~ge by ~udlcfal by Borrowcr. ~ proceeding. Leader ~ha11 be enUtled to collect 1a ruch proceeding a11 ~~~e~ beMbY covenaats that Boreower has not ezecuted any ~ expensea ot forecloeure, tacluding, but not itmlted to, attorney'~ fees. prlor wignment ot sald nnU, that Borrower haa not pertornaed, ~ coets of documentary evidence, abstracts and UUe report~. snd will not pertorm, any acU or has not e:ecuted, and will not e=ecute, any instrnmenb whlch wouid pnvmt Lender irom e=ercisins ~ ~ Aesl6nmeat 26. As part ot t6e conddention for the lndebted- ~~u ~der thU p~ragraph 26. aad thst at the Ume ot ezecutloa ~ of thfs ][ortgage there haa beea no antlcipstlon or prepaymeat o! aa~ ot Aent~; nese evidenced by the Note, Borrower 6ereby abw- ~ Appointmeat lutely and uncondttionally aasigl~a and truufen to oi the renb of the Property for more than two months prlor to the ~ ot Recelrer Lender the renb a~d revenues of the Pcoperty, fn- due date~ of ~uch reats. Borrower further covenaats thst Borrowar ~ cluding those now due, put due, or to become due ~v1ll not 6ereattes oollect or accept payment of any renta of fhe Pmp- by vlrtus of any lease o* other agreemeat [or the occupaacy or u~s erty more thaa two month~ prior W the due dates ot iuch renU. ~ of ell or sny part ot thc Property. Borrower hereby autDotlse~ Lender Upoo gorroweYt breach ot any covenant or agreemeat of Bor or Lender'• agents to collect ths aforeufd renL aad revenup and ro~,eT ~(ortgaaa i.eader shall be enUUed W tt?e appolntment o[ ~ ~ hereby direct~ each tenant ot We Property to pay such nnb to Lead~r ~ ncelver to eater upon and take ~nd mafntafn tull control of tbe ~ ~ or L.ender's agenb; pruvlded, dowever. Wat prlor to wHtten nodce pro~rty In ocder to psrform all acb nsces~ary and approptlat~ for glven by Lender W Borrower o! the breach Oy Borrower oi any core- ~e opentlon and malntenancs tLereot lncluding, but not llmlted to. ~ nant or agreement ot Borrower 1n thl~ Yortsage, Borrower ~haD collact ~e e~cecutbn. cancellatlon or modlIIcaUon of leasea, t~~ tnaktn~ of ~ and recefve all renU and revenues of t6e Property as trwtee tor the ~ bene8t ot Lender ~nd Borrower, to apply t6~ renta and rsvanuq w repaln to the Propertr aad the e:ecuttoa or terminadoa ot contracts .oilected to tLe ~ums ~ecured by thls Hortgaae in tLe order pm~ld~d prorldlna tor the manaaemeat or malntenu~ca ot tAe Property, all o0 ~ ~ . t~ ~ ~ • BOOK ~ PACf ~ ,8 ~ _ ~ ~ ~ . - _ w _