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Home My WebLink About0169 iuot~a"'"oo~wm? ~i~. ~p romu?s ttfRx ~~RUNT couRr yE~t~tED~..~_,..~~ JaN 2l 12 ~ i PM'T~ ` . 392~ sAaU Mve the option to receive and apply the sams on acoo~nt ot t.he indebtednees secured Asreby or W pe:mit aaid Mortgagor W receive and ux it or any part thereot for other purpoeee witbout thereby waiving or iuopairing any equity, lien or right under or by virtue of thLs mortgage: ~nd ia ths event e~id Mortgagor shell for ury reason fai! w keep the said premisee so insured. or fail to deliver promptbr any oi aaid poticies of insuraoos to stid M~c~, or fail promP~~3' ~~r ~r aQy ct~ror. or .ny re~cc t.~ co perto~n. a;scti.r~ eucvta etfect. complete. rnmply with and abide by thie cover~ant. or any put beeeof, s~id Mortg~ges m~y p1~os and peY for such iasunace or u+y part tha+eof writhwt wdviag or afiectins any optioo, ?ien,. equtty or rjght under oc by virtue of this mortgage, end the tull amount of each and every euch payment ehall be immediately due sad p~yabie and sluill bear intereat from the date thereof unW paid at the rete of ten per eeatum per annum and together with such intereet shal! be xcured by tl~e lien of ttie mortgage. 4. To permit, commit or aufter ra wa~te, impairment or deterioratioo ot eaid property or any p~rt tl~ereof. 5. To psy all and aiagulu the ooats. chargee and ~pesse~. inch~ding ee~s~mr.~b I~wyer's feee and aoet of ebstracts ot title, incurred or paid at any timo by said-Mortgagee becewe aadlo~ in t6e event of the ta~lure on the part of the said Mortgagor to duly. promptly and fuUy perform. discharBe. e:e~vte. eNect. oomplete. oornply with and abide by e~cl~ and every the at.ipulationa, agr~,emente. conditions and oovenanta oi said promissory note, and this nwrtgage. any or eit6er. aad said ooete. chargee and e~ensea. each and every. abaU bs immediatejy due and WYable. whether or not t6ere be notioe, demand, attempt w coUect or suit pending; and the tull amottnt of each and every auc~ paymeat s}ull bear interest trom the date thereot unt31 paid at the rete of ten per c~tum per annum: and all aaid coat~, chargee and ~peaeea ~o incurred or paid, tog~etl~er witA auch intereet, shall be eecured by tUe lien of thia mortgage_ 6. That 1~1 in the event of any bre~ch oi this moctgage or default a~ the part of the Mortgagor, or Ibl in the ~ • ev~t ~ny of aaid sums ot moosy he~ein referred to be tat P*omP~Y ~~i' P~ wit6in ten d~ys t~t a8e~r the aame severally beoome due ~nd psyable, without demand or notice. or !c) in t6e even! eac6 and every tbe stipulatans, agreements. conditions and oov~ants ot a~id promissory note and this martgags. any or either. ~re not dnly. P~PUY ~d ~Y P~ormed. diec6ar8ed. ezecuted. effeeted. oompleteci, oomplied with and abided by, thes. in either or ~ny wch eveat. tbe eaid aggregate eum mentioned in eaid promissoq? note then remaining unpeid, wit6 mteceat ~oen~ed, and all moneya sacured ~eby, shall beoome dae ~nd p~yabk tart6with, or t6ereafter, at the option d aaid _ Matgagee, as lully and oompletdy as if all of the said sume of nomay were origiaalty stipulated to be p~id on such day. anyching in aaid promiea~xy ~wte. and or in chis morcgage w che ooncr.ry noc.rithsc.nding, and thereupon or there~sft~ at the option of eaid Mortgagee, witlwut notice or damand, suit at Isw or 'in equity. theretofore. or tbueaftu begun, may be proeecuted aa if all moc?eye saeured hereby had matured prior to its institution. 7. 'IUat in the event thst et t6e beginning of or at any time pending any auit upon thie mortgage, or to forecbee it, or to nform it, andlor to enforoe paymeat of any cWme hereunda, said Moctgagss shall apply to the oomt Mving jurisdiction thereof for the appointment of a Reoeiver, snch oourt ahall fathwith appoint a Reoeivar of eaid ~8~ P~~+~Y all and singular. incloding all and aingular the reate incoa?e profita. iss~es end reven~a irom : w~atev~ source derived. each snd every of which. it being e:pee~aly underatood ie hereby mortgaged as if € speci5ca11Y eet forth aad deecribed in t6e granting and habendum cla~eea hereof, and sueh Receiver s6a11 6ave i ell the brosd and effective fuactions and pow~s in anywiee eatruated by a couct to a Receiv~. and ~snch appointmeat E ahall be made by auch oourt as an admitted equity and a matta of absolute right w said Mortgag~ee, and witbout ! refere~ooe to the adeqwcy or inadeq~iacy of the value of the proparty mortgaged or to the solveocy or insoivsncy ~ of ~aid Mortgagor endlor of the defendants. and that such reflts. ~ofits. iuoome. iseuee ~nd revsnuee shall be appiied ' by such R~eiver acoording w the lein andlor equity ot ~aid Mortgagee and the practioe of snch oourt. ~ 8. It ia underatood and agreed tbat thie mortgage ie given W eecura. in addition to the note ar ob6gation ~ above deacribed any additiond lo~ns or fuwre advanoee made wit6in qaeaty ye~re trom date hereof by t6e mortgagee - ~ to said mortgagors or any sucoeesor ia title of eaid znortgagors of t6e prop~ty hereby eonveyed; pravided th~t the ~ total unpaid balance of the indebtednes~ eecured bereby ai y ooe time ahall not e:oeed the ma:imum P~P~ amounc of EIGHT THOUSAND ~8,000.00) ~ouars 1, plua intereat tbereoo aad any diabvree~eata made by the mortgagee for tha psyment of tuee, levies or inaurance on the propartq encumbered 6ereby. wit6 interest on suc6 disb~usemente_ - ~ ~ IN WITNES3 WHEREOF, the said Mortgagor haa e:ecuted thia motttgage under sesl on the day and year herein ~ first above written. _ ~ Signed, xsled and delivered in the preeence of: ~ ~f~C4-- _ ~k~4 i3EAL? - r, ~ L (3EAL1 . - E t . ri ey STATE OF Mi higan ~ coutwr~t oF ~'1EXi~i~~i~ , . ~ Before me personaUy appe~red C1 ayton E. Gri 11 ey and Edi th W. Gri 11 ey , hi s wi fe of k. ~ 912 Maxwell S.E., Grand Rapids, MI. 49408 ~ to me wdl known and knawn to me to be tM individualS. desa~ibed in and who e:ea~ced tbe foe+egob~g instsamsn~ and avcnowledged beforo me th~t ~.he~(.. ~ecuted tbs ame tor the p~uposss therein e~tssssd. ~ WITNE33 ~y b.na .oa o~.~ ~.t c~ 19th a~y o~ November c~ Lt ~ci- ~ ~ Notary Public ii-. tor ~ ~ 0 R ~p U11;'. ~ ~t - . BOUlI~1 PACE 1VD ~ _ - ~ . / ~ i9~}'a ~ , . - - - - - - - _ _ .