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ahall have t~e option w receive snd apply the same on eccouat ot the indebtedae~s secured hereby or W pecmit
aaid Mortgago~ to receive snd ux it or any part thereot tor other purpoeea without thereby waiving or impairing
~ny equity, lie~ ot right under or by virtue of this mortgage; and in the event eaid Mortgegor shaD for any reason
fai! to Iceep the ssid premises so insured, or tail to deliv~ pmmptly any ot aajd policies ot insuranos to said
Mortgagee, or tail promplly to pey fully any premium theretor, or in any respett tail to psrtprtp, disc}urgs,
e:cute, eftect, conipkte, comply writh and abide by this covensnt, or any part hereot, said Mortgagee may plaae and
p~y tor such insurance or any part thereof writl~out waiving or ~ftecting any option. lien, equlty or risht under or by
virtue oi thi~ mortgege, end the tuU amount of eseh and every such payment shall be immediately due and p~yaWe
and shall bear interest from the date thereof until paid at tAe nte of ten per centum per annum •nd together with
such intereat shail be aecured by the lien of this a~ortgage.
To pe~mit, commit or su[ter no waste, impairment or deteriontioa ot aaid property or aay part thereof.
S. To pay all an~ singulu the coste, charges ~nd ~peasea, iacluding ressonabk lawyer's feea and oost of
ab~tracta ot title, incurred or paid et any time by said Mortg~gee because and/or in the event of the failure oa the
part of the said Mortgegor to duly, promptly and fuUy p~form, dischargs, executa, efiect, oomplete, aomply ~rith
and abide by esch end every tf~e stipulations. agreert?~dts, conditions and covenants of said promissory aote, and
this mortgage, any or either. and said ooete. charges and e:penses, ea~h ud every. ahall bs immediately dua and ~ ~
psyabk, whether or not there be notice, demsnd, attempt to coUect or suit pending; and the fuU sa~oant of each p ~
and every such peyment ahap bes~ intereat from the date thereot unW paid st the rate of t~en per oentum per
analsn: as~ a!! ~aid s~sia. e~ssres er.d asoensce sa isrstss~d ~ asid, t.oar~lMx s~rith ~:rh ia;~zr.a;, ~!m!! !~e um:r~ hr
the lien of thia mortgag~e. ` ~
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6. That lal in the event ot any bre~c6 of thi~ mortgage or default on the p~rt of the Morigigot, or Ib? in tl~t r t i
• event any ot said aums of awney herein refeirred to be aot promptlY and fully paid within ten days nest attar the ~oa~
aame eeverally become due and p~yable, witbout demend or notice, or IN in tbe event e~ch and every the atipulatiom, ~
itl::;~'s.
agreementa. conditions and rnvewnts of said promisaory uote and thia mo~tgage. any or eithe:. ue not dtily. ~
promptiy and fully performed. discharged. e:ecuted. effected. oompkted. oomplied wit6 end ebided by. then. in eit6er s`~.
or any auch event, the said aggregate sua~ meationed in said promissory note then te un ~
accrued, and all mone e secured 6eceb , shall beoome due and ~optio ~ y ~
Y y pay~bk torth~rith, ot thuwfter, at the e ot said ~ G'
Mortgagee. as fully and completely ~s if ell of the ssid aome of nom~w wen originally atipulated to be paid on ~~Z
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thereupon or thereafter at the option ot said Mortgagee, without notice or damand, suit at law or in equity. ?Q 1 i 1
theretofore, or thereafter begun, may be proeecuted as if aU moneys ~ecured hereby had matured prior to its
instiwtion. ~ ~c~:c_
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7. TAat in the event that at the beginaing of or at any time pending any suit upon t~is mortgage, or to toreclwe J O
it, or to reform it, sed/or to enforce psyment of any claims hereunder, said Mortgages ehall apply to We oourt -
having juriadiction thereo[ for the appointment of a Reoeiver, suc6 court shell forthwith appowt a Receiver of said .~ciE
~8s8~ ProP~Y aU and su?gular. including aU end sinqular the renta i~ome profits. isaues and revenues from :
whatever source derived. e~ch and every of w6ic6. it being ezpreaely understood is 6ereb , _`v.+`~: t
~ specifically set forth and dexribed in the granting and 6abendum clsuses hereof. and snch Reoeiv~ have
f all the broed and effective fanctions and po~vec~ in anywise entrusted by a court to e Reoeiver. aad auch appointment "
~ al~sll ba made by such court as an admitted equity and a metter of ab~olutc right to said Mortgagee, and wit~}wet
~ referenoe to the adequacy or inadequacy of the value of the pwperty mortgaged or to t6e eolveney or ineolvency
of eaid Mortgegor and/or of the detendants, and that auch rente, profite, income, iseuea and revenues ahall be appiied
~ by auch Receiver according to the lein andlor equity of said Mortgagce and the praMioe of wch oourt.
~ •
8. It is underatood and agreed that thia mortgage ia given to secare, iw addition to the note or obligation
sbove described eny additional loane or future advances made within twrenty yeara from dete hereot by the mortgagee
to said mortgagora or any successor in titk of said mortgag~ors of the propettq 6ereby conveyed; provided th~t the
wtal unpaid balance of the indebtedne~s aecured 6enby a: anyr one time ahall notre~ ceed(~the muimum principal
amaint of ~ 1:.v~:.~ iL 1..i:~.r .:.:l~t?-'.~a~ 1 ~-r_i~ ~ :`:V~1 OV DO~T6
~ It plue interest thPreon and any disburoemente made by the mortgagee for the payment of taies, levie~ or in~uranoe
on the property encumbered hereby, with interest on auch di~bursemente.
1N WITNESS WHEREOF, the said Mortgagor hae ezecuted this mortgege uader seal on the day and yeer herein
~ first above written.
~ Sigoed, sealed and detivered in the presence of:
~ ( _ 1 ° D _
~ _ _ i~e:ti.i - -
A . , idI OIQJ '
~ ~sE~.? .
~ STATE OF~'~R~i~?XMIC~IGAN
~ COUNTY OF~.~~ MANISTEE CATAERINE S. WILSON
~ Before me personally eppeared .TERRY A. WILSON 6 CATAERINE S. WILSON ~ AIS WIFE
~ OF 8461 PORTAGE STREET, ONERAMA, MICHIGAN 49675
~
~
~ W me weli Icnown and Icnawn to me w be the individua~.. described in and w!a e:ecnted the fac~egoing instrumsn~ -
~ and aclcno~vledged before me that ~..6e.y7xecuted the same tor the purpoeee therein e . . •
~ . . - -
~ WITNESS my hand and official seel this ~y
~ - _
~ , Notaq Pnblic in ar
~ U k s~~ ~ ~ . ~ - - : _ cbs Conncy and scace Ator+.s.ia.
BOOK ~.1h~7 PAGE , - . ~ _
. . . Y ooma~aion azpira:
~ . . JULY 13, 1980
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