HomeMy WebLinkAbout0616 4
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ahall luvs tbe ogtion to reosive and apply ths s~ms ou aooount of tl~s indsbtdn~ ~ecured Mnbr or w p~tt -
a~id Mortga~ to reoeive and use it oe aqy part thereof tor otMr purpos~s wttliont tM[eby w~ivioa cr imp~rias
w equicr. liea or righc uoder or by vircus ot chis mortgag~x and in cAs .veac said Matgag~or shaD for a~r re..on
hD W l~eep tbs said p~nises so insured.- ar tdl W deHver proa~ptU W? ot ~aid PdiciM ot inwnna- to ~d
Mo~taageR vr tail ptomptty W p~Y tu11Y aql? P~emiwn. tl~xeto~. or ia uq ie~psct hit to pertorm. di~chuEs.
esi.vta ettect, comPlsts, ooa~F~Y with aod abide by tAis ooven~n~ a~ any p~rt bereot. aW Moetaa~es miU? PL~oe and
p~r to~ sucb inaiu.nca or a,q? p.rc c6e~eof wic6onc w.iviag or aHeetina w~~ ~~~7 a~c uuder a b~
virtne oi thia awrtgags, and tbs tull amount ot e~ch and even? suc6 Payme~t sh~il bs immedlate~y dw and payabis.
aua shall bear inteeest trom the date tha+eof uatil paid at tbs .r~te ot ten pec oeoWm per anaum and together with
sucl~ interest shaU be seeursd by R6e liea oi t6is mort~ge.
4. '!b penni~ ooaunIt or sutier no wasts. ImpaQment or dsterioratioo ot said pe~aperty ~ W Part thec~eoi.
S. To p~y and singnlu tbs oosts. c6~rges and a~nsss. ind~d~8 reasooabls lawyer's tees ~nd oost of
abecraets ot citle. inciured or paid at any tuos br said Matgages becauee andlo` En tbs event ot tM faib~n on ths ~
part of ths said Mo~tgagor to d~Y. Promptb? and fnl~? PerEorm. discAac6s. azecvte. ettect. oomPiets. oomp~r with
ud abide by e~eh and evep ths stipuhtioos. ~greemeats. ooaditims and oo~v~enant~ oE s~id peomissay nots. and
this matgage, any or eitl~er. and said oosts. chuBe~ and e~penses. e~ch aa! every. sh~D be imno4diate~v dus ~nd
PU~~• wheth~ or not tl~ae be notioe. demand. attempt to adlect or suit pending: and t6e tnll amount oE e~ch
and evary snch p~yaaent s6all be~r inteeest fro~a t6s date tlbceof unW paid at the nte of c~ per oeawm per
annum: and all said oosta cl~arges +~nd ~peoses so incurred or paid, togecl~er witl~ s~eh inte~est, sball bs senued by
tLs iisn of this mortg~gs. -
6. 'lLat la) in tbs eveoc of any b~e~eh of this mo~tgags or defanlt on tbs p~rt of t6s iriataigo~. a Ib) in tb
- rveat ~ny of a~id snms of money here~ia rstaet+ed to bs not promptb and fnlly paid withm teo d~7s nast aRet t6~ _
s~ms ssvaraUy become d~e and Mrib1e. witbout dem~ad a~ nociea or ld in the eveot each aod ewry tbs atiqilatioos.
ageeemsnts. eo~itions and oov~eo~nts of s~id peomiasory note and tbis mortga~s; any ar -edt6er. ar~ not dnb.
pcompth? aod inD~? Per[ormed. d~6ar8ed. e:eeuted. eNected. oomPlsted. oomPlied w~ith and abided bp. tbeo. in eitber
o~ a~? s~eh ev~t, the said ag~egate snm mentioned in aaid p~omiasory aote then ~eaaaining unp~id. with iateeest
aocrusd. a~ aIl mousys secnred hersb7. sh~ll bsoome due and payabls tcct6witb. ar t6are~itar. at tbs option aE said
Mo~tgagee. as fuUy and eompletely as if aQ of tbe sud s~ms of nomey wers aigioaIIy ~ted to be p~id on
sncb day.. anyt6ing in s~id promiseory nota and or in this mo~tgage to t6e oootnry notwithstandin~ and
t,heeeupon or thereafte~ at tLe option of s~id Mottg~gee. wiibo~t notioe ar dam~nd. suit at law oe~ in equity.
t~sretofors. or thee+e~it~ beg~n. may be prosecnted as if all moneys secured hereby 6~d matnred prior to N.s
ia~titution. ~
7. That in tbe ev~t t6at at t6e beginniog ot or at any time pending ~ny ~uit upon ihis mortgage. or W taecbse
ik or to retorm it, andlor to eaforce p~yment of aay cLia~s h~mder. s~id ~atg~ges shdl ~pply to the oo~ut
h~viog jurlsdiction t6e~reof for tbe appointmeat ot a Reeeiver. snch eoart s6aD fathwith appoint a Reodvar of s~id
.~~E~ P*~PR~Y ~S ~ and singnl~r tLe imts inooma pe~oRts. isa~es and eevanuss irom t
mo tga
whatever so~roe detived. e~ch and evsry ot whicb. it bain8 e~Y unders'.ood is hee~eby mo~tgaged as ii
hezeof end such Reoeiver shall 6avs
~psdBcaU~? aat farth and descdbed 'm tl~e grant~ng and babendua~ dauses
aD t6e b~od and eHective fanetions and powera in ~nywise mtruated by a court to a Reoeiver. and auch appo~tment
s6~II be m~de by snch oonrt as an admitted equity and a matt~er oi absolute right to a~id Mortgagee, and withont
retereaoe to the adeqaacp or in~dequacy of the value ot the ProP~Y ~B~ o~ to t6e solveney oc _insolvtocY
of s~id Ma~tgagor andlor of the defeadants. and t6at snc6 rents. P'ofits. inoome. i~es and reveanes shaII bs app6ed
by suc~ Reoeiver aocording to tbe iein andlor equity of said Matgagee and the pr~etioe of at~h oo~ut.
8. It ia nnde:ewod and agreed t6at t6is mortgage ia ~vea to eeatre. in addition to t6e note or obligation ~
above deseribed any additional loans or fnture advanoes made wttWn tweoty ye~rs izvm date he:eoi by ths moetpgee
to s~id mortg~gors or a::y wooasso~ in title ot said mortgago:s of tLe proparty Leeeb~ a~ve9ed: Pwvided tl~t t6s
total uapaid b~lanoe of tl~e indebtednese secured hereby at any ooe time sball not azoeed the mazimum peincipai
no~.~~
.~nc ot Seve~Thou~nd Faa~
er~Hu~~n~red (~7~500. 0----------------------~--
~s vlus incers~c .ny made tor she p.ymenc ot c.us. levies or ins~uanca
on the proparty encnml~red 6ereby. wit6 inteeest o., anc6 disbursements.
IN WITNESS WHEREOF. tl~e said Mortgagor has ~ecnted this mortgage unde~ ee~! on t6e day and year her~n
5rtit ~bove writtea.
si~~ed, se~led and delivered in tbe preseooe of: P CHIRUP CF1TI'ER, P C.
a /'~($BAL) '
_ ~ OIIISS 2' ~ PY' S 1 t
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e r is wife)
3PATS OF (}j~
op~trr~r oF~ amas D. Palmer, D. C.
a~~ Thomas D. almer, D.C. : President of Palmer `
Ghiropractic Center and Rornayne R. PaLner (his wife)
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to no~.w~eil~ t ~ luwwn to ms to bs ths individwl. desccibed in and wbo ezewted the faeegoing iost~umen~,
~d ~'.adlq~~grs ms theE ~.he~l. ezecvted tbs ~ for t6e pQposes tbenin ~pee~sed.
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- h _ :,1: , t6s Counq ~nd 8tate Afo~sMid.
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. 800X~~ PACE 1
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~'~t+.,:~,~?ti:~` - - 11dfAry Pub1iG Ke~ County. Mich.
My apqlp~isiiQll B7cQires J~n. 7, 19/5