HomeMy WebLinkAbout0016 • « MORTGAGEE:
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1 hat !?tortgagor hrrrby granls. ba~gains, assians, and conveys unto Afurtgagee. the foUowinit drscribrd rra! rslatr in thr County of
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i.~~:~ ther with all builJings and nnprovrments nuw~ or hrrcafter crcrtrd thcrcon and aU xretns, shades, storm suh and blinds, u~d heatin6. liahti~. plumbug,
es,, rk. tric, ventilating, rcfrigeratinR and air-~onditioning eyuipment used in connection therewith, all of which. [or the purpose of this mortgage, shall be
:1«med li~tures and subject tu ~hc lien hereof, anJ thr henditaments arni appurtenances pertaini~ to the property abore described, all of which is refernd to
h~r~maftrr u the "pnmisei'
IO HAYt~ AND TO HOLD vid I•rnd •rnd premix~_ with -rlf thc rights, privikgrs •rnd appurtenances thereto belonging, unto mortgagee and his hein, executors.
i a~im~nisttators, wcaxswrs and :usigns. forcver.
' ~t~~rteagor also assigm to ~fortg;~~ all r~nts, i~wrs and profits uf said prrmise~, reserving the right to rollect ~nd use the same, w~ith ot without takinE
i r~~..~~sion uf thc prcmixs, duting rontinuancc of dcfault hcrcundcr, and during ~wntinuan~Y of wch default authorizing Mottga~Cee to enter upon said premises
~ ,nd ur col{ect and enforcr the .•rmr wilhout rcgard to •rdeyuary uf •rny srcurity for the i~xiebtedness hereby secured by any taw•ful means including
~ ~ppumtmrnt of a m~rivrr in the name of any pariy hrrcto, anJ to apply the same less costs and expenses of operation and collection, including reasonabk
€ sit~~rnc~•'s ires. upon any indcbtc3rK~..«ureJ h~rei~y. in iu.h urdrr ac ~1~Gi1(~3~tCi rtsay dcierminC_
~ IOR THE PURPOSE OF SECURING: (11 Performance of each agreement of 1?tortgagor contained herein: (2) Paymeni of the principal sum of
~ 1~~~ • with interes ~ rorided in accordance with the terms and provjsio~ of a Promissory Note/Loan Agreement (heceinaiter ceferred to u
~ ' Promissory Note") dated , maturity date ~~r/ , and payabk to the otder of Mortgagee,
cu w~hich Promiuory Note reference is hereby made; (3) Payment of any additional advances, not in a principal wm in excess of S i 1 ry?. with
interest thereon, u may he~eaftec be loaned by Mortga~ or the then holder of his Mortgage to Mortgagor, each and every advance to be evidenced by the
Prumissory Note of Mortgagor in the amount ot the advance; (4) The payment of any money tlut may be advanced by the Mortgagee to Mortgagor_for any
r~dwn or to thitd parties where the amounts are advanced to protect the secnrity or in accordance with the covenants of ihis Mortgage_
~ ~II payments made by Mortgagor on the obligation secured by this Mortgage shall be applied in the following order: -
f=1RST: To the payment of taxes az~d assessments that may be kvied and asseued against said premises, insurance premiums, repairs, and all other charges
~ snd e~penxs agreed to be paid by the ~tortgagor.
~ SECOND: To tt~ payment of interest due on said loan.
~ THI RD: To the payment of principal.
~ I~) PRnTECf THE SF.CURITY HERF.OP, 11fORTGAGOR CO~'t:~ANTS :~`U AGRtfS: IIITo krep a~iJ premi,es inwrcd agam~t firr anJ such other
- ~:,,ualties u the Atott~agee may spucify, up to the full value of all improvements for thr ptotertion of Atortgag~~ in +uch mann~r, in wch amounb. and in wch
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= :~~mpanies as 11ott~ee may ftom time to time approve, and to keep the policies therefor, ptoperlp cndorsrd, un drEwsit ~vith ~tortgagre. and that loss
f pr~«eds (less expenses of colkction) shall, at Mortg~g~'s option, be applied on said indebtedrerss, w•hether due ot nut ut to ihe re~turatiun of said
~ ir~provements. In ~went of loss Mortgagor will give immedute notice by mail to thc ~lortgagee whu may mekr proof of loss if not made promptly by
~ ~lurtgagor, and each inwrance company cuncemeJ is hereby authorized and directeJ t~ make pa~~men1 fur wrh lus~ dirc~tly to \lortgagee instrad of
X ~lurtgagor. (2) To pay atl taxes and special assessments of any kind that have been or may be levied or asscsx~l upun said prcmises, or any part thereof. 13) In
y rn: ~vent of default by Mortgagor under Paragraphs 1 or 2 above, ~lurtgagee, at its option (whether rkcting to detlare the whok indebtedness serurcd her~by
s lur and collectibk or not), maq (a) efkct the inwrance above provideJ for and pay the reasonabk premiums arxf charges thrrefor, (bl pa}• all said taxec and
~ ~„escments without determining the validity thrreof, and (c) pay such liens end aU such disbursements shall be Jermrd a part of the insiebtedn~s~ secured by
~ ~ni, ~tortpage and shall be immediately duc and payable by ~turtgagor to ~furtgagre_ f41 To keep the buildings and other imptovtments now• ot hereafter
_r~cted in good condition and repair, not to commit or wffer any wa~te or any use of vid premisec contran~ to restriction or recotd or rontraty to laws,
~~rdinances or regulatans of ptoper pubti~: authority, and to permit Mortga~re to enter at all reasonablr timrs for thr purpo~e of insprcting the prcmise~, not
~ t~~ nmove or demoGsh any buildi~ lhereon: to compkte within One Nundred EiEhty (18U) Days or rrstore promptly and in a good and aorkmaNike mannet
~ ,,ny building which may be constructed, damaged or destroyed thereon and to pay. ~rhen due, all claims for labor performeJ and materi~l furniched therefor.
~ i That the time of payment of the indebtedness hereby secured, ot of any portion thereof, may tx extended or renew~ed and any portions of the prcmisec
hrrcin described may, w~~thout notice, be teleasrd from the lien heteof, w•ithout teleasing or affecting thr perwnal liability of ~ny perwn or ~orporation for the
p1yment of said indebtedness or the tien of this instrument upon the remainder of said premi~es for the full amount of said ~miebtctiiness thrn remaining
~ ~mpaid, and no change in Ihe ownership of said premises shall rekase, reduce or otherwise affect any wch personal liability un the IKn hereby rreated. (6)
That he is seized of the premises in fee simpk and has good anJ law~fui nght to ronvey thr same: anJ tha! hc dces hereby furrrer w~uram and will forever
~ ;i~fend the titk and posseuion thereof ~ainst the lawful claims of any and all persons whatscever.
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