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Home My WebLink About0137 ~ ~T. L~IE C~T~ f l ~ . IIOCER POITRAS f ~R C~RCUIT CCI;RT , ~~fl` MaR T 9 s9 AN'~~ 3958'~5 s6aU luvs the option to ~ceive and app~y the eams on aooount of tbe indebtedness seeured Aereby or to pecmit said Mortgegor to receivs snd uee it or any pert tl~eot fo~ other purpo~ss witboat thereby wdviog or impairing any equity, Uen or right under or by virtue of this mortgags; ~nd ia the event aaid Mortgagtx slu11 tor aay reawn tail to keep the said premises so insured, or fail lo deliver praaptly aqy of said policis~ of ias~uanos to said Mortgages. or feU promptlY to paY tully any premium tberefor, or in aqy respect fail W per[oria, dtechargs, e=cute, eftect. canpMte, comply ~rith and abide by this oovenaat, or anY P~rt heebof. e~id Matsa6~ ~,Y P~ ~ MY tor such insunncs or any part tl~ereoi witla~t waivios o~ affectjn6 wY option. lies. equity or right ander ar by . virtue of thIa mortgage, end the full smount ot e~ch ~nd every suc6, WYment sbaU be immediattety dus ~nd p~yabls and shall bear interest from the date theieot until paid at tl~e rate of tau p~ oeutwa pe~ annum and t~ogether witA such wt,erest shall be eecured by the tien of thi~ aartg~gs. 4. To permit, commit or autfer no waate, imp~irrnent or deterioratioa o! ~id pmperty or any p~rt thereof. b. To pay all and singular the ooeta cba*6'ae and uP~• ~S reasonabk lawyer's feee ~nd oost of abatracts of title, incurred or paid st any tia~e by said Mortgagee because and/or in the event of the faDure on t6e part ot tl~e eaid Mortgagor to d~ty. P~o~Y ~~Y P~orna. discl~rge. ~ecute. eHeet. oompiste, oomply with uid abide by e~eh and every the atip~il~tions. agree~neats. canditbns and oovenents of said promi~sory nota and thia mortgege. wy or either. and eaid costs. tbarges and e~[pmsss, esc~ and every. shall bs immediate~r due end paYable, wheth~ or not there be notice, demand. attempt to oollect or suit pendiag: and t6e full amount of esch and every such paymeat sAall bear interest irnm t6e date t6ereof unt7 paid at the nte of ten per oeat~un per ennum: and all aaid ooecs. charg~ee .nd e:peosee ao incurred or p.id, cogecl,er wich auch interesc. shall be eecured by t6e liea ot this mortBeBe- ' 6. That lal in the event of any breach dt this mortgags or dshult on the part of the Mortgagor, oe (b) in t!w - event any of said aume of muney hecein rsferred W be not promptly and tuIIy p~id within ten days nezt ~Rer the aame severally become due and payabls, witbout demaad or notio~ or Icl in tbs eveat each ~nd every ths ~tipulaRions, aereementa oonditions and covenants ot said promissory note and t6is mortgsge. any or eitLer. ar~ not duly, PromptlY and [ullY P~tormed. disebarged. e:ecuted. effected. oompleted, oom~tied wlt6 aad abided by. theo. ia either or aay such event. the eajd aggregate sum mentioned in eaid p:omissory oote then remaining nnp~id, with intereet acuued. and dl moneys secured bereby, shaD beoome dne aad payabis fa~thwitl~. or tbereafter. at the option ot said lKortgagee, as tullq ~nd compktety as if all of the said sums of nomeq were otigiaaliy stipnlated to be paid on a~ch day. anythin8 ia eaid Pmmiseo~Y note. and or in this mortgage to t6e ooatnry notwithstanding, and tLereupon or theresft~r at the option of e~id btorigagee, w[tl~out aotioe o~ damand, sult at law a~ in equity. theretofore. or t6ereafter beg~a may be prosecuted aa if aU moneys seeored Lereby had matured prior to ite institution. 7. 'lUat in the event that at t6e beginning of or at any tims peading any suit npon t6is mortgage, or to fortcloee it. or to ref~m it. end/or to ~force psyment ot any claims heceunder. said Matgt~ges shaU appty to the ooart 6aviog jurisdiction thereof for the appointment of a Re~xiver, suc6 oourt shaII farthwith appoint a Reeeivet of s~id ~8'~ P~Y all and ainguler. inchiding all and singular the rants inoome profit~s. iseues and revenues trom whacev~ source derived. e~ch and every of w6ich, it being ezp~sely understood ie heraby- mortgaged ~s if ~ epeci6cally eet forth and described in t6e granting and habeadam clauses hereof. and snch Itecdvet shall have ~I all t6e brosd and eftective functions aed powere in anywiee eatrusted by a oourt to a Reoeiver. and such eppointment I shaU be made by auch court es an admitted equity and a matter of absolute right to said Moetgagee, and wifbout ~ refe~enoe to the adequacy or inadequ~cy of the vah~e of the proprrtY mortge~g~ed or t,~ the solvsncy ar insolveacy of said Mortgagor andlor of the defendanta and that such r~te. Pc'ofits. inoome. isanes and roveanes shaD be applied by such Receiv~ aooording to the kin andlor equity of eaid Martgagee and the praetice of suc6 ooart. 8. It ia uaderstood and a~eed that this mortgsge is given W secure, in eddition to the nota or obligttion above descn'bed any additanal loans or fnhu+e advanoes made within twra~ty years irom date 6ereot by t6e moRtgag~ee co eaid morcg.gors or any enocessor in dcM of said morcgagors ot che prapercy ix~eby conveyed; prov;ded c6.t che total unp~id bdence of t6e indebtedness eecuted hereby ~t any one time ahall not ezoeed the ma~Cnum P~P~ amo~~ntot SEVE(~THOUSAND (~7,000.00)----------------------------------------~ollars 1. ptua interest t ereoa u~d any diebursemeata made by the mortgsgee far the payment of tuee. levies ~ ins~uanoe on the property encumbered hu~eby. with intereet on enc6 diabarsementa. IN WITNES3 WHEREOF, tl~e aaid Mortgag~or 6aa ezecvted thie martgage under eeai on the day and yeer herein first above written. Signed, e~led and deGvered 'w the presenoe of: ~ d ~'i~l~~~ ~ l~~- ~ ~ ~sEti.? • Debra Sue King ~ ISEAI.1 srn~ oF ~[iW( M I C~ j I GAN coviv~r~r oF ltlU06~0(0(~X MANISTEE . seto~e ~ne ~son~y .p~.red _ Debra Sue Ki n9 of 6144 North Wi nd Court Traverse Citv. Mi.. 49846 . to me weU known and lmo~w~n to ms to be t6e . indjviduaL.. de~err'bed iw and wbo ezecnted the foregoing ~steumeo~ and uknowiedged betors me that ....bs.... ~ecated Lbe sams fa ths p~vposs~ tberein e:pres~sd. WITNE33 my e.na .Aa of~w ,e.i c~. 19th a.~ or November ~ 1~ ~ , ~ , ~ ~ <<~~<< ~ _r~~~,~`~., N«.ry P~wie i~ ~ i ~ .~s~ Coanq and 8t~t~. ~ aDDx~ M/C~f~~G ~~s~o~/~t.. - ~ . ~ PA~ ! , ? ~ ~ ~ . < f - r~~ ~ - - _ - _ - - ~r.~s_-. _ . ~ , _