HomeMy WebLinkAbout0375 /1ND th~ said Mo~t9o9or htrebr coveno~ts ond apr~es with th~ said Mortyop~• os follows: .
FIR51: Tlwt the Monpo~or is lowfulir sei:ed of th~ cbov~ d~scrib~d pr~mis+s in fee s;mpl~ ond hos pood ri~h1 to wll ond
conv~r Ih~ soma fo Me Monqcqees N+o~ 1h~ said prtmi~~i or~ 1~~~ ond distharQ*d of and frdn oll tax~~, tox tititi or aKifico?~s,
jud~rnents, inethonit s liera o~d entvinb~ances of ony nolur~ or kind whotso~v~~ ond fhaf th~ MottOo9or will fvlly warront and
dtf~~d th~ saen~ to th~ Mortqo9ee, o~airol th• Icwful cloims and d~mands of all persons whomso~v~r, pfld w1II f11pk~ 3{K11 fNfMtff ,
assuronc~s ro perfed fee slmpl~ tiHe to soid land, in the Mo?tpops~, os may ?eoionobl~ be ?~qvir~d, ond will por th~ s~v~ral
sums of money o~r~ed in ~h~ said not~ to be poid and all instollm~nts of principol ond inttr~st th~~~on prompHy wh~n due, and
otcordinp to M~ hue t~no~ ond ~fF~tt of th~ said ~+ot~.
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SKOND: That th~ Mortpo~ wil! por cN a~d sin~ulor 1he tox~s, osseum~~!s, I~vi~i, ond encwnbronc~s of every nature
on fhe obove d~scrib~d prop~rtp, ond upon this n~ortpo~• and not~, or fhe nwn~y s~tur~d 1h~~eby, b~for~ d~linqu~ncy th~reof !
ond recsipts eridencinp poym~nt of said tcx~s, oss~ssmeeHs, I~vies c~d ~ncurebranc~s shall b~ d*posit~d wi~h tM Mort~c9~e on or ~
b~for~ Morch lst of ~ech woce~dinp r~ror durie~p IM hne of this nw~tpep~; ond if some b~ not pranpN~r poid whM dus, Ma `
MortqaQe~ moy (witlwut obli~otion to do soI par N+t some, o~ baane punhaser of ony towfu) evid~nce M~r~o(, or c~~tiAcat~
M?~r~for, without woivitp ot oR~ttin~ any ri9ht Mtwnd~r oed in Ihis mo?tpop~, or 1!N soid not~ which Mis mortQa9t stcvr~st ond .
wd~ ts or ~xpenditurts shall b~o~ int~r~st fron+ fh~ dat~ Ih~r~of at th~ rot~ o~ ~iph~ ~
aria `~~~os per vent per armur?. ~
TNIRD: That Ms Mo~f9oqor wil) kt+p aN reel ond p~rspwl propert~? now or h~r~oh~r ~ncumbend by the li~n of thi: ~
matQaq. Msur.d a: mar b• ••qu;red frwn ~~n?. ro tin~e by H+. Marpa~.e apo~~f Ios: by A~•, windstor~n and other ho:ards,
cawofti~s ond continp~ncies for wch periods an~d for not I~ss than wd~ anaunb os mor b~ ~~quir~d b~? tM Mortao~~ ond M par
P~Pth? whe~ dw all pnmiwns fo? w~d~ i~urana. Th~ qnaunts of wch inwronc~ r~quir~d by th~ Mort~aqe~ a~~ ~xpreuiv~ of
only 11k mirNnw~n omow~fs t~ar whith soid ie~suronte sholl b~ writtee ond it sholl b~ i~cwnb~nt upon Ih~ Mortqa~ to maiMain wdi
additional irouranc~ os nwy b~ Mceuary to en~et ae~d compl~? fully with~ eN oo-ieswonc~ nquirsn~fs oontoin~d in said polici~s ro +
IM p+d Mwf said Mortqo~or is hot o eo-inwror tMreund~r. M~suranee shall be writttn br a ooenpanr or tanpaei~s opprorsd br tM f
Mortqap~ cnd all polioi~s and nn~wah IMnof sholl b~ M!d by Mat~a~N. All dNoiled d~si~notwns by 1M Mortpaqor T
wlNCh an aac~pted br Ihe Mortqa~~ ond o!! opr~nls bltw~~n Mortpo~or and MoNpapk nletin~ ro i~wrana. now ~xistitp
or f~r~ah~r mode, sholl b! in wri ' ond sholl bi o a~t of this ewrt a i c re~n~nt as ful oi {
„++4 P O~ q h? Nw~~h s~t foMh v~rbotim Mrein
ond sholl qovem boM~.parti~s Mr~to and Ih~ir wac~sson ond assi~ns. Pb lien upon anr of soid pOlities of irourante or upon onr t
r~fund or ?~hKn pr~e~iwn which nwr b~ payabl~ oe 1M canallation or tarnnination fMr~of, shall b~ piv~n to o1Mr lhoe fhe Mort- ~
~aQa~. ~xcept br Prope~ endo~s~n~M aA'ix~d to wch poliry and approv~d br Mortpo~. Eocfi policp of a~wronu ihell have
aR'ixed fMreb o Standord Mortpo4N Gavs~ aa~ptebl~ lo Ihe AAatpap~e, mokinp atl bss or lossfs u~dsr wah polic~r poYobl~ ~
to 1hs Nbrfpap~ os its inhrest nwr opp~ar. 1n th~ tv~M omr wn~ or sums of nwr~r b~oom~ parabl~ tl~nund~r tlN Mortpop~e
shaU hav~ 1M option to nuiv~ and appfy tha sam~ on oaouet of fhe indebf~dn~ss htrsbr setvr~d, p fo p~rnuf fh~ Morf9a~o? to ~
receive and us~ it, or onr port fF~r~of, wiN~ou~ fherebr woivN~p or impoirin~ anY ~4wh, li~e? or ri9ht und~r ond by virfw of 1Fws
na?t~o~t. M~v~nt of loss or physko) domop~ b 1h~ nwrtso~~d Proptrty 1M Morfqa~or sholl qiv~ inrn~diet~ notice Ihfr~of by
~no~1 fo ~he Mor~pa~.~ o~+d M~ Mo~o~.. ~noy nwk. proof oi Iou if M~. sam. y no~ nwd• pro~npNr by ~h. Mor~Qo~. ln ev~nt
of fondowr~ of tha mort~a~~ o? oth~~ tron~f~r of titl~ to 1h~ mortoaq~d Properh? in ~xtin~uisFwnN,t of th~ indebt~dn~ss secured
Mnby. oN riqht. ?itl~ and iM~~t of IM Mort~o~or in ond !o oe~? insuranu polici~s N~en in forc~ shotl pou to 1M purdwser or
~ran~~e. Upon o~r d~foult 1Mnof, tM Mortpa~N mor (but w~t obii~ation on its part so ro do1 PI~ ~~anc~ ort wch
buildinps and par fh~ pn~niurn ond cfwr~~ sueh wms so poid 1o tM Mortqapor ond wch wn+s of money so poid shoq beor iN~r~st
from th~ dot~ of poyrneM ot IM rat~ of ~i~pht and 50/100s (8.50$)per oe~t per annun.
fOURTH: That al{ wms of nwney paid or wus~d to be pcid br th~ Mortqaqe~ under the tern~s of this mortpaoe ond hersin
~ speaficaNy Provided for, ond indudin~ arry exp~nses incurr~d br th~ Mortpaqt~ in oollection of tha swn secured by this mort~a~e,
shall bs covered by th~ lien of this nwrtpa4~, fh~ sonN as 1M~ wms of nw~~sr represeoted by tM note which tha nart~a~e sew~es.
HfTH: To pern?it, ownmit or wlF~r no wast~, impairment or d~teriorctioa of soid propertp, or any part the~eof, ond upon ~
fhe faiiurs of the Mortqa~or to k~p th~ buildinqs cn said Prop~rtp in ~ood ao~ditio~ of repo;r, the Mort~a~ee may demand the ;
inrnedictf r~pair of said buildin~s, or on 'arc?~ost in fl~ onwunt of searri~r, or the immediote reporment of ths debt h~~ebr
secured, and th~ fcilun oi 1h~ Mortpopor to aomplp with said demand of th~ Nbrf~oqee for a period of fiheen (15) daps sholl
oonstihrte a breath of Nws naApa~~, aed, at M?s option of the Mort~eQ~s, inrnediofelr mature th~ ~ntire unpaid principal and
iMerest h~rebr saared. ond ih~ Mortpa~t~ n~oy, w'ifhout notic~, i~utifirte proceedinQs to fo~edose this nart~ape, and apply for
th~ appoir~tment of o rec~iver, os he~~inaft~r proved~d.
~ SIXTH: That the Morf~apo~ her~br pranis~s. oovenonh and a~rees /o par the wrns of nwney ond ir~terest as inentiooed ~
in soid promissoFy nof~, to~tther with o~? aed ail oth~r suna jusHr dw and owin~ tha Morf~o9~e br ths terms th~rein, ond secur~d
ro b. paid a: steted lhere~ prompNr whtn dw. !f defcuM3bo1: b~ nwd~ in 1M peymeM of the said wms of money or ony port '
fhereot as provlded in ihe said not~ w this morfpope, or if th~ iM~rest that moy b~oome dw thereon a anr part th~reof sholl be
in d~fouM ond wnpoid for a spou of Aft~en (1S) daps, o? shadd the Mort~ayor breocfi or foil to canplp with onr other covenoM '
or epr~meM on fhe pa~t of the Mortpopw ro b~ oanplied with (in thos~ cases in whid+ 1he option of the Mort~apee of oocekra- `
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tion is not o~nvise ~xpressly provid~d hKein) and wd~ breodi or ran-ooenpliance oonKnue in exist~nce for o spote of Aheen ( I S)
days, th~n ond frpn Mknc~fo~th, af tht option of tM Mort~o~ee ond without notice 1o the Mort~o9o?, the whot~ of said pfinapal ~
wm exprest~d in said note, to~efher with all oM~r sums thtr~in os welt as herein providtd for, shaq beoo+ne imenediotely dve ar~d ~
Peyable, without ~otice ro th~ said Mort9a~or.
SEVElYTH: That in tose it sl~ould b~oonH ~c~ssory to plote this mort~a~e and the note secured herebr or either of them,
in th~ honds of an ottorr~y for oollection, ihe seid MoA~aqor tov~nants and ayrees wifh the Mort~a~ee to par all c~h, charqes
ond exper~ses of wch colledion, indudinp reaso~wbl~ ottorr~r't fets whtth~r oollect~d br foreclosure or otherwise. ~
BGMTH: That, in the evem a~r wit is broupM ~pon thn nrortqa~e, whether to foretbse ;t, to refwna it, or otherwise,
and/o~ ro~nforc~ parment of any daim h~rwnder, th~ Morf~a9~~ mar opply fo any couh haviep lu?isdit~ion thtreof for th~
cppoiMn~nt of o nteiver of said naA~a~td prope?fy, os wetl ai th~ income, proAts, iswts ond revenuts thereof, end the seid
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