HomeMy WebLinkAbout0724 AN~ th~ ia~d Mwiocqa he~~by cov~~onts ond opr~~~ wiM ~h~ said Mo~t9op~~ as follows:
FIRST: Thnt M+~ Mortpoqo~ is tawfully s~i:~d of M?~ abov~ dacr7b~d pr~~is~s ie f~t ~in+pl~ ond hos Qood ripht to s~ll ond
com~r tM som~ to th~ N1o?tqo9~~; thot 1M soid pr~nwi~s or~ fr~~ ond disdwr~~d of ond (rom oll ta~~s, tox titlh or t~rtifkat~s,
IUd9~11Mt1. rt1KhO~iC'~ li~m and •ncwnbronc•~ of ony non,.. o. kind wha~sw~•• ond nc~t M~~ Monpopw will t~llr worrant ond
d~fMd IM som~ 1o the Mortpa9t~. apaiest 1M lowful tloims ond d~nwnd~ of all p~rsons wlwmso~v~r~ o~d will mok~ w~d~ fwtlar
aswro~as 1o p~rftct fee simpl~ title to soid lond, in M~ Mo~tqo9~~, os nwr r~osonobl~ b~ r~q~ir~d, ond will pay Na s~v~ral
w~ns of ~+on~y a~~~~d in M~ said not~ ro b~ poid and all inslolln~~nts of p~i~cipol ond int~~~~t M~~~a+ PranPNr wh~n dw. ond
oooordi~+p ro N+. m,~ t~no? and ~ff~ct cf IM said not~.
SKOND: Thot tM Mortpa9or will por oN and sin~ular ~h~ tax~s, ou~sun~nb, I~vi~s, and ~ncun?b~onas of ~v~ry notw~
on H+~ obovs d~xrib~d proP~~tY~ and upon Mii mortpep~ and eot~, w th~ naney i~cur~d the~~br, b~for~ d~linqwncr IMr~of
ond nceipb evid~ncin9 poyn~?t of soid tox~s, ass~ssm~nh, I~vi~s and ~awnbro~+c~s sholl bt d~posit~d wilh M?~ Mortpo9~~ on or
b~for~ Morch lst of ~och sua~tdinQ rwr durin~ th~ t~nn of Mis rnonpape; and if som~ b~ not pranptl~r pcid wh~n dw, fM
Mo~tqo~t~ nwr (withouf obli9ofion to do soI por fM sam~, a b~tan~ punhoser of a~y lowful ~vid~~c~ th~r~of, or c~hificotf
1h~~~for, wiN~out woivinp or ofF~tfin9 anr ri~ht h~nund~r and in fhis mort9o9e, or th~ scid not~ whith thii na?tqoq~ s~tures; and
wch poyna++ts or ~ap~editur~s so med~ sholl b~ar inN~~it fro~n N+~ dot~ lhsnof ot the rate of ~b[ per centum ~~p~r annum.
Nine (98)
THIR~: Thot the MoNpo~or will ke~p all r~al ond p~rsonol prop~rty eow o~ htr~oHer encumb~r~d br M~ li~n of this
mortqa~~ insured os mar be tequir~d fron+ tin~ ro tin~ br M~ Mortpaqee o9ai~ut iou br fire, windstorm ood otMr ho:ards,
cawohi~s and cor~tin~enci~s for wd~ p~riods and for nof I~:s Ihae wch enwenK as nwr b~ r~qui~~d br th~ Mo~t~optt and to poy
Prompttp wMn du~ all pr~ndwns for wd~ inwrana. The amounts of wch i~anc~ r~quirtd by th~ Mo~t~oq~e or~ ~xpr~ssiv~ of
ontr th~ mi~ anwunfs fo~ which soid ie~surann shall b~ writt~n ond it shall b~ incumba~t vpon 1M Mortqa~a to n+aietain wch
odditional iosu~ont~ os nwy b~ n~t~uary !o nN~t o~d tomply ~vflp with all Qo-inw~ant~ r•qwr.n+.nn ooMairwd in so~d poUc~.s ro
li~t ~nd Mwt said Mortqa9or is ~ot o oo-+nwror th~~wnd~r. iraurvnta ~ioii bi w~i#iin ~r a canpaay ~r tt3~ts~st~s a~ra~ss! h~r t!u -
Niortpape~ and oii poiic~s ond nnewois iianof shaq i~a iwid br i#~ 1i~a~ipoq~r. i~ii ~rrt~~irrd ~~:~~t~ by i:~ ~.-s~a~sr
which ar~ ooc~pted br tM Mo~t~o9N and all oqr~~n~fs bNw~en Mortpepor ond Mort~ap:~ relotinq to imuraea, now ~~istir~p
or Mr~oh~~ nwde. sholl b~ in writi~p ond slwll be a part of fha naA~aa~ oqrt~ene~ a: fuiip os Mwuqh sN fohh v~rbatin~ M~~in
end sFwO povem bofh porti~s M~No and MKir waas~ors and ossi~ro. No U~n ~pon aor of said polici~s of Fnwrance or upon onr
refund or rNum pr~miwn which nwy b~ parabl~ vn tht tanc~llatioe or t~rminotion thtreof, shall b~ pive~ to oth~r Ihon IFw Mort-
~ap~. ~xt~pt br Prop~r endo?s~N o~'ix~d to wch polic~? o~d opprov~d br Mort~aqk. Each policp of i~wronc~ siwN har~
afF'ixed IMr.ro a S?onda~d Mor~9ap.e douse aa.ptobl~ ro N~. Mo~9oq.e. nwkinp olt los: w loss~: ~x+d~r wd~ pditp porablt
ro the Mort~ape~ os ils i~K~st nwy opp~or. M th~ wsM a~r swn or wna of nwner becan~ Payabk Mareunde~ the Mo~t9aq~e
sholl hav~ N+~ option to r~uiv~ aed apply ~M sanw on aacour~t of tM ind~bt~dness Mr~by saar~d. « ro p.r~ ~«roa~or ro
raceive and vs~ if, or om? parf tMnof, withouf N~tr~br waivinp or impoirinp onr equitp. IiM o? riqht under and by vinw of fhis ~
n~ort~ope. In ~v~nt of los~ or phrsicol damo~~ b fht niortpoq~d prop~rfp 1he Mort9oqor shoq 9ive inan~diate notit~ 1htr~of by
nwil b ti~s Mortpa~e~ ond 1h~ Mortaap~e nwy nak~ proof of bss if fh~ sams is not nwd~ pranptip br th~ MortQopo~. In ~v~nt
of for~dowr~ of Mis nw~t9c9~ or o1M~ trar~sf~r of titl~ ro tM mortsa9~d prop~rry? in e~tin~wslwn~ of th~ ind~bt~dnKS s~au~d
h~rebr, oll ri9ht, ti11~ ond inhr~st of th~ Mort~a~or in and b onp i~+wranc~ pot~a.s N+e~+ M forc• shaN pa:s ro M~e purdwser or
pranl~. Upon a~r d~fault th~nof. IM AAoA9a~t nwy (but widwuf obliqation on its part so to do) Plac~ i~ronc~ on wch
buildinps and par Ih~ p~e~niwn end tharq~ w~ wna'so paid to th~ Mortpa~ end wch swns of nwn~y so poid shall beor int~r~st
from tM dot~ of parn~M at th~ roM ofjj~~ pt? c~Nwe (~p~r orrwm.
! fOURTH: That all sun~ of ~y poid or tousid$~ b~ paid by tht Mwtya~se w~der Ihe tern~s of this nwrtpa~e and her~in
~ sPecifko~h? Pravided for. and indudin~ airy ~xp~+xes incuned br th~ MortQaq~~ in aollection of the wm s~cur~d br ~his nartqoQ~,
~ sholl be oo~vered by 1M lien of IFus nwrtpa~~, IM son~ o: 1M swns of nar~r r~presented br the note which this mortqa~e seaires.
' RFTH: To p~m+it, aanmit or wlFer no wasts, unpairenMt w dNer'wrotion of said propert~r, or anr part th~reof, cnd upon
! M+~ foilure of th~ Mort a ro k m condition of re oir, th~ Mort~a9ee moy demand the _
o~CCU NP Ih~ build'a~q: on soid ProP~~t~r ~~oOd P
immediot~ r~pair of soid buildiny:, or on ie~~as~ in 1M anwunt of s~writ~r, or th~ immediote r~parment of the debt her~br
sear~d, ond 1he foih?ro of th~ Mortpapor ro aanpl~? with said dNnoed of th~ Mortqa9ee for a period of fiheen (15) doys ~Iwll
ca+stitut~ o bread~ of Mws nart~a~~, aod, ot Ih~ opfioe of th~ Mortqaqt~, immsdiat~lr moture the ~n?ira unpaid pri~apal and
inter~st M~eby seared, and fM Mort9aq~e nar, without notia, i~u6tvt~ proc~~dinps to foreclos~ this nwrtya~~. ond apply for
the oppointmeM of a rec~'w~r, os her~inaft~r provid~d. ~
SIXTH: Thaf the Mort~apor her.br pronws.s, oovenanb and oyrets to por the swns of mon~r and int~r~st as mentioned
in said pronrssory ncte, to~eM?~r wifh ony and aN oN~r suens justly dw aed owinp the Mort~o9ee by the terms th~rein, ond s~tu~ed
to b~ poid os uated therein promptl~r wh~n dw. H d~fauM shol! be nwd~ in 1he payn~~nt of tM soid sums of nwr~y or any pa?t
th~r~of as provided in the soid not~ or 1ha nwrt~aq~, o? if fht ir~t~rtst thot mor baoom~ due lherew+ or onr port fhereof sholl be
in d~foult and unpaid for a spac~ of'ftiftNn (iS) do~rs, or should the Mortpo~or bread~ or foil to complr with onr oth~r oovenant
or apr~em~nt on H~e po?t of Na MoAqepor to b~ canplied wi~h (p+ Nws~ cos~s in which tM optia+ of the MortyaQee of oaelero-
tion is not otherwis~ expressl~r provided htr~in) and wcfi breoch w nomaompliance ca~tinue in exist~nt~ Far o spot~ of Bftten (1S~
_ daps, th~n and from th~ncefoNh, at the option of tM Mort~a~~e ond without notice to the Mo~t~o~a, the whole of soid pr'uxipol
wm ~apressed in said noN, to9eth~r with all otMr swns th~rein as w~q as htrtin provided for, sholl become immediately due ond
poroble, without notice ro the soid Mort9a~tx.
SEV9VTH: That in cast it slauld b~com~ rnc~ssary to place this mort~o~e and Ma ~ote secured hereby or either of M~m,
in the hands of on attorn~r fo~ collection, th~ seid Mo~tpa~or tovenants ond a~i~es with the Mort~o~ee to pay oll cosn, cfiar~es
ond ~xp~ns~s of wch coll~ctioe, indudinp r~asonabl~ otton+tr i f~ts wheth~r oollected br foreclowre or othe?wise.
HGMTH: Thaf, in th~ evtm onr wit is broupM upon this nwApa~~, wh~thtr to foretlose it, ro r~form it, or othe?wis~,
ond/w ro ~nfo~u porn~nt of onr daun h~r~und~r, Ih~ Mort9opN nwr apply to onr court hevin~ jurisdiction thereof for the
oppoiMm~M of a nc~iv~r of said nart~a~td prop~rt~r, os wt0 os th~ incomt, profits, i:wss ond rev~nws M~reof, and the soid ~
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