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aball havs the optan to receivs aad apply the s~ms oa acoo~nt ot t6s iadebtedns~s secu~ed hereby or to permit
s~id Mortgagor to reoeive and uss it ar any p~rt thereot !or other porpo~es wit.hout tbereby waivfing or impairja8
•0.Y a9~~Y. tien or right aader or by virtue of tAis mortsag~ aad in tl~s eveat said Mortga~g~or s6all for aay re~son
iW W Iceep che eaid premises so insured. or fail to ddiver promptRp any of s~id policie~ ot innuance to nid
Moctg~g~es, or fail P~PUY ~ WY ~Y ~Y P~°m therefor. or iu aqy ~spect tail to perlorm. disc~arg~s.
~cuta eHect. complete. eomply with and abids by this rnvenant, or wy put Mreof. said Matgag~e~ tnay plaas and
P~Y tor s~cA inaurancs or any part th~eo[ witbout waiving a~ affectin8 anY optbn, lisn. equity ar rig6t under cr by
virtue ot this moetgage. and t6s tull amount ot e~cl~ and every wc6 p~yment s6aII bs immediately dus and p~yabb .
aad ahaU bear incerest from the date thereof unW paid at tAe nte ot ten per c~tum per annum and together with
euch int~ereat shdl be sscnrod by ths tien of this moetgags.
4. To permit~ comenit or suffer ao waste. impairrneat or deterioratio~ ot said ptoperty or any part thereot.
5. To p~y all and singulat the oosta. el?argss and ~Psnses. ind~dia8 re~son~bM lawper's tees and oost of
abstncts ot title. in~vrred or p~id at aay time by aaid Mortgages because andlor in the eveat of tLe fa~7ure oa the
part of the said Mortgagor to duly. poomptly aad tulb? periorm. disehu6'e. ezecute. eHe~t. aompiste. oomP1Y with
~nd ~bids by e~ch and every the stipulatioos. agreements. oonditions ~nd aovenants of said promis~oq nots. and
this mortgege, any or eic6~. and aRid oost0. chu8es and aspesses. e~ch aad every: ahall bs immediately due and
P~Ysbk. whether or not there be notioe. demand. attempt to oollect or suit peading; aad tbe tull amatnt of e~cb
and evary such paymeat sliall be~r interest fenm the date thereot unt~7 psjd at the rats oi ten pe: aenwm pa~
annum: and all eaid ooste. cbarges aad ezpeneee so incurred or paid, together with auc6 interest, aAall bs sscured by
the li~ of this mortgage. .
6. Tbat 1~1 in the eveat oi any breacL of this ma:tgags or defauh on the part of the Mortgagor. or (b) in tbs ~
- ev~tt any of said enms ot monsy herdn reterred W bs not promQtty and lull~r paid within ta~ days nest afta~ t6s
eame severally beoome due and payabis, w[tho~t demand or notice. ar (ci in the event eacb a~ evetp t6s st3p~lations.
agreemenis. oonditioas and oov~nts ot said promissory note and tLis nnortgag~s, any or eitber. ars not duty.
P~~Y ~Y P~orubd. diachar8ed. e~eeuted. aHected. oomPleted. ooa?P6ed wit6 and ~bided by. theo. in dtber
or any wch event. the aaid aggregate snm m~tioned in said promiasocY note then TM""'+^'^~ unWild. wit6 intereet
~ocn~ed. aad all woneys eecured hereby. sliall beoome due and payabls farthwith. oc t6ere~fter. at t6s o~tion ot aaid
Mortgagee, as t~l1y and oomplately as if ell of the said sums ot nomey we~e o~iginally stipulated to be p~id oa
such day. anything in eaid Pm~Y note. and or in this matgage W tLe contrary notwitMt~ndin~ and
theraupon or t~ftsr at the ogtion of s~id Morcgagee, without notioe ar dam~nd, suit at law or m eqaity.
theretofore. or thereafter begun, may be pcosecuted aa if all moneys secnred 6ereby had m~tured prior to its
inatitution.
7. 11ut in t6e event that at tLe beginning of or at any time peading any suit upon tbis mortgags, or to toreeloee
it, or to reform it. and/or W entorce p~yment of any claims bee~eunder, asid Mortgagee shaII apply W tLs oaut
having j~risdiction thereof for t6e appaintment of a R~eoeiver. s~ch oaut shdl tat6with appaint a Iieodver of nid
~ ~6~8'~ P~tY aD and singular. ineh~ding ail and singulRr tbs rents i~ome ptotita. iss~es a~ revsnues ~+om ,
w6atever soaroe daived. each and every of whic6. it bsing ezpeessly vnderetood is 6ereby matgaged ~s if
epecifically set farth and described 'm tbe gnating and 6abeadum cL~see hereof. end snc6 Reoeiver s6~ hsve
' dl t6e-broad and effectiw fiinctioas and powere in anywise entrusted Dy a oo~ut to a Receiver. and suc6 appaintmeat
~ shall bs made by sueh oourt as an admitted equity and a matter of abeolute rig6t to said Mortg~gse, ~nd without
reterence to t6e ade9w~Y ~~~9~Y of tLe value of the propertY matgaged ar to tha solveoey or insdve~xy
E of said Mortgagor and/or of tbe defendante. and thst such reats. ~o8ta inoome. ise~es and ravennes s6a11 bs.~pplied
€ by such R+ec~ver aecording to t6e lein andlor equitv of said Matgagee and the praMioe of ench oaut.
~ 8. Tt is undastood and sgreed th~t this mortg~ge is give~ to secure. in additi~n to the note ot obil~atton
above deeer~'bed any additional bens or futau~s advances made within twenty years lrom data 6ereof by tbe moetg~gee
to said mortgagors or any sacce~sor in titis of eaid mort~g~ors of t6e prop~ty hereby oonveyed: provided t~t tbe
totel unpaid b~lance of the indebtednesa secured 6ereby ai any one shall ~t the mazimum P~Pv
amoanc ot S I X THOUSAND E IGHT HUNDRED ~ 6, 800. 0~ Doua~
(i 1. plus interest tl~ereon and anq disbnrsements made by the mortgagee for the payment of t~ee. ieviee or instvanoe
on t6e Pmp~tY ~cumbered hereby. wit6 interest on snch disburssmente.
I1V WITNES3 WHEREOF, the said Mortgagor has e=ecvted this mortgag~e uider aeel on th! day and yeer berein
first above written.
Signed, sealed and de6vered in t6e presence of: ' ~
ey isEwi.? .
ISEALI _
~ er t ey
~ 3i'ATE OF ~ Mi i gan-~- .
COUNTY OF ~~i.ll_!'ck'C!:
~ ~f~ ~~~y ~p~ A1 bert Athey and Esther Athey, h~ s wi fe of 628 Cherokee St .
~ Kalamazoo, MI. 49007
~ ~
~ to me well known and imown to ms W be ths individuaLS de~aibed in ~nd w6o szecnted t6s fo~agoing buttvmen~
: t. ,
and ~cknowledged before me that t.6s... J/ezecnted t6s same ior tl~e p~Qposss thersin ~peesred.
~ WITNE33 my 6and and official se~l this 19th ~y of N vember _"_.is.,~;Z.
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