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Home My WebLink About0122 ~ ~ ~ ~y.•, , . aFru trncu~r couw~ ~ ^F' vE1~FIE0 JaN Zl 12 oa PM'~8 3~~i'8 . s}uu c.ave the option to rereive ~nd apply the same on accouN, of the indebtecirkea srcured hereby or to peemit nsid MortgaRor W receive and use it ~r any purt thereoP tor oth'er purpo~ w~ithou! thereby waiving or impairing any equily, lien or right under or bv ~•irtue of this mortKa~;e. and in the event said Mongagor shaU to~ any reason fail W keep the said premises insureci, or tail to deliver pmmpciy any of said policies ot inautanee to s~id Mo~tgagee, or feil promptly to pay fuUy uny premium therefor, or in any respect fai) to pe~form, disdurg~e. e:cute, ettect, complete, compiy with end abide by thia co~•enant, ~~r any part heteot, +aid Mortgagee may ¢boe and pay tor auch insurance or any part ther~~ot w~ithout waiving or affe~cting any option, lien, equity or right undet ar by virtue ot this mortgage, and the full amuunt of each and e~•ery ~uch perment shall be immediately due and p~ytbie and ahall bear interest from the dale then~.,f until paid at the rate oi a~n per cencum per annum and toRettxr witb such interest ahaU be ~ecured by tAe lien ot this mortQage. 1. To permit, commit or suffer no waste, impairmrnt or deterioratioa of said property or any pu't the~eot. 5. To psy aU and singulnr the ca~ls, charKas and e:pen~, includinR reaw~neble lewye~'e teq ~ad oost ot abstracte of title, incurred or peid at any time by said Nortgagee becau.ye and~or in ~he event o~ t6e fn7ure on t6e part of the said Mortga~Tor to duly, promptl~• and fully perform, diacharge. eiecute, etfect, oomp{ete, comply with and abide by each and every the stipute~ions, aRreements, condition+ and covenanta of ~aid promiasory note. and thia ~nortgage, any or either, and eaid costa, char~s and e:penses. earA and every, ahall be immed'atdy due aad payabk, whether or not there be notic~, demand. attempt te~ col)ect ~~r su~t pendir.g; and the fuU aawant of eacA and every such payment shall bear intPrest fr~m the date thereof until paid nt the rate ot ten per oeatum per aanum; and all said cosLs, charRes and expen~es so incurred or paid, to~echer with such interest, slull be eecueed by the lien of thi~ raortgage. 6. That (a) in the event of any breach of this mortQage ur default on the parl ot the Mortgigor, or (bl m ths • eveat aay of ~aid suma of money herein referred to be not promptly and fulty paid within ten days ne:t aRer ths same aeveraUy become due and payable, without demand or notice, or Icl in the e~ent each and evety tLe ~tioos. agreements, conditiona and rnvenents of said prornissory cwte and this mortgsRe, any or either, are not doly. promptly aad fully petforined, dischar~eci, e:ecuted, effected, completed, compliect with and abided by, then, in either ~ or any sacl~ event, the said a~regete sum mentioned in said prunussory n.xe then remaining unpaid, with mWest aoexued, aad ail moneys secured hereby, shall become due and peyable fortAwith. or thereafter, at the option ot ssid ~ Mortgagee, as fully aad completely as ii afl of the said sums of nome~• werc uriginapy rtipulated W he paid on euch day, anything in said promisson• note, and or in this mortFCaKe to the contrary notwithstandiitg and thereupon or thereatter at the optiop of said MortRagee, witfiout notice ur damand, suit at 4w or m equity. . theretofore, or thereafter begun, may be prosecuted as if all tnoneys secured hereby 6ad tnatured prior to ita inatitution. T. That in the event that at the beRinninR of or at env time pending en~• suit upon this mortgage, or to fuecbee it, or to reform it, andlar to enforce payment of any claims hereunder, sr?id Mortgaqe~ sMll apply ta the aourt 6aving jurisdiction thereo[ for the appointment of a Receiver, auch court sAali forthwith appoint a Reoeiver ef s~id I mortg~ged property all and singular, includinR all and singular tt~e rents incume profits, iss~tes and reveaues tr+om j whatever aource derived. ~c6 and every of which, it being e:pressly ur.dPry+ond is h~eby mo~igaged aa if ! specifically set forth end described in the ~rantinR and habendum clau:~e~ :u.d such Receiver aha0 bave ~ alt t6e broad and pffective fnnctions and puwFra in anywi!se entrusted by a cc. rt 'r. a Receiver, and eucb apQoinRmmt ~ ahall be made by auch court es an admitted equity and a matter of absoluG ..Q;.: to said Mortgagee, and witbo~lt ref~ to the adequscy or inadequncy of the value of the propert~ mort~aKed or to t6e aolves~ey or msdv~e~ of said Mortgaqor and/or of the detendants, and that such renG9, pro6ts, income, issurp and revenuq s6a~ be apQiied by atxh Receiver acoordinK to the lein andlor equity of said Mortgagee and the prattice of socb oo~nt. 8. It ia underatood and agreed that this mortgage is ~iven to secure. in addition to the note a obiigatioo above descnbed any edditional loans or future advencea made within twency vear~ from dete hereot by tbe mortgagee W said mortgagorn or any successor in title of ~aid rtsortga~,rors of che propercy hereby rnnveyed: provided t6d t6e total unptid balsnce of the indebt.edn~s secured hereby a! any one time shell not ezceed e6e mazimum princip~l "~°"°c °f E~ht thous~nd t~hundred e~i~ht~ and no/100 (~8,280 00) °oBara (i 1, plaa in t thPreon e any s rsementa ma e y t e mortRaRee fnr the payment of ta=q, levies or inautanoe on the propvty encumbered hereby. with interest on such disburxments. IN WITNES.S WHF.REOF, the said ~tortRagot hes ezecuted this mortE;aRe ander seal on the day and yeer 6etein firat above written. . ~ Signed, ~G~ d an~' delivered in resence of: ~ ~C I / ~ ~ 1~ ~ ' ~ • acque yn . rewer ~ tsEwt.? . ~ oF ~ ~ ~~i~" ~ oourrrr oF iClt,Xa4(9~1p( ~ Kent Jac uel n A. Brewer Befor~ me pereonally appeared - ~ ___~f _2175 Gl encoe Hi 11 s Dr; Ann Arbor, Mi . 48104 ~ to me well known and knawn to me to be the individual._. described in and who e=ecuted the fo~ng mstrumeat, ~ _a~ and aeltnowledged before me that ....he.... ezecuted the aame for t6e p~upoeee therein e:praseed. ` . - a .,-WI?NESS my n.,~a .na o~r~i ~ c~ _ 5th _ agy or December 19 77 - E~ - 4~ " , 7 ~ ' ~ O R N ry Pablic ' nd for ~ _ dOQK PA~E ct~e co„ncy .nd stace ~?tores.id. MY oommission.~Pi*'s~. . • ' ~ My commi~~.;,~~ , _ _ . . _ -Y~ , ~ _ - -