HomeMy WebLinkAbout0133 A~d stwll prr[~,rm. comply w•ith ~nJ ;?hKir by r~ch rnd rvery uf thr supulrU,~ns. ~grr~mrnt.,~.md~u.,n, anJ :u~enant, irt
furth in thi~ mortg:qce ~nd in thr prun?ia~~~y n.~tr ~tcurtd h~trby, ~od ~ny renrwal. ur olhat nutec ~~vrn in 3.•cotJ~ncc hrrrwith,
thrn ihic mortlwgr and the astatr heteby c~rated sttrU cr~~r and br nutl ~nd v~~~d.
And vid Matl~taKur fur him~rll and his A~irs, Irg~) reprccertt~tive~, .ucie~~ur~ and r„i~m. hrrrhy ron~rnan~~ ~nJ eKrrr. to
.~nd w•~Ih ~~iJ Nu~t~wger, ih irgal ~rpr~xotat~ves, suc.r.sorc;?n.i a,.iKr?c:
t. l o pay all and singular the principal and interrst and the variuus ~nd ~undn .umc of muney r~yablr by vntue ot ,aid
prumi~x~r~• notes, and ~his murt~t~ge, each and evr~y, promptl~• on the dayc respecti~rl}• ihe ~me berumr due.
2. Ta p~y aU and smKular the taxec, a~crssmrnls, 4evie~, li:~hilitirc, oi~ligrtionc and iacumb~anres uF ever~~ nrture and k~hd
n.~w• un wid dccunbrd proprrty, th:~t harcah~r m:~y br impuxd.+ut~t~rrJ, pta~rd. Ir~•~cd ur a~x.xd thrrcupun. ~lOII IIIdI Ill'ft:l~~Cf
n~~~• be Irvi~vt ur acsr..rd upun thic murtEagr, tnr ind~btcdnru ~cc•ur~d herrhy, ur both, each and e~•ery, whcn dur ~nd pa>•able
a.•rurJmg tu I:1N', brfurc they becume drlinyurnt, ~nJ beCurc any imrrrYt auarhr. ot any prn~lty is inrurrrd; and i~ w far „ any
thrrcuf is c~P rtcutd the +artx ~hall hr prutnptly +:tti~ti~•d anJ dic:har~d uf rrrord ~nJ the ~~tginal uf~ciai ducu~nent I.urh ~c. !ur
et?+tanre. ~he tax i«ript ~~r thc vti,ie~~uun pa~xr aff~.~all~• rnJor,xJ ur c~rtitirdl Jiall tk pl~crd in the h~nd+o}'!1fu?t~afrr u~th-
in t~n Jayc nr~t af~rr pa~•mrnt.
3, 1'u kerp said buildings, and ~ny w•hich may hererftcr be erecred upun uid premi~s, inwnd :?Kaimt luu or d~m~~ by
firt and wch other hsi~rd~ or ris{:s :?s ma>• br rr~uired by ~lortgager in wrh amuunt or •rmuuats ~s may br cequir~vi by said
~1.~rt~agee, in such insuran.Y rumpany or compa~~es as ~turtKagee, its succeswrc or assigns, may apprave, and to deliver to +~id
\f~rtg:~~er, JS Jl~IIIUUR:tI SCl'Uf1~V herrto, I+1C (IOIiCICS Of SUCA 1J15U[JfiCf JRII U~ 7lly Jl~1~1UUD:I) lf1SUI:l/ICC N'FIICFI 1A.lII hC (:IICCO OUl
upun wch buildings while any part of the irxiebtedneu aforesaid shall remain unpaid, having rttach~d to said policies such mort-
~a~r i?Klemnit~• rlause as ~lortgsgre ~I~;~II dircet. ReneW~als uf wch {wlicies shall be w delivereci rt least ten d:~ys brfore rny such
insurenre shall erpire. All insur~nre r~rried sh~ll be sat~sfactcxy to caid ~tortgagee. Any cum a~hich may become due under any-
~u:h pulicy may be appli~d b~• vid \turtgagte, at its option. tithtr to rrduce .aid Jrbt ur to repair or rcplace the impru~•rmrnts
:u~rnd by said pulic>~. Sai~! ~IurtK~~;rr nzap pru.•urr and +ub~titwe f~.r ~ni• and aU uf thr imuran.c ~o hrld a. aCurevid. ;urh
oth~r {wlicy or ~x~licirs uf insurance, in like amuunt, as it may drtermine, providrd 4lurtg~rur failc to tepl~ce am• surh in~uwnre
within ten day~ after being nutitird that the InsurinK C'umpany~ is no lunger appru~rd by Uurtg~gce. !n race o! s:wk under furc-
rb~.urn c~re.~f, ~II su:h insurrnce ~h~U thencrt~~rth, arul until the prri~K1 of redemptiun shall rxpire, be m~de p~~~able to the
huldrr of the rertifirat~ ui +ale; rn~i i~ surh r~entc ~id ~lort~:arrt ic herehy ~uthuritrd tu rollect the unearned premiur?~ on an~
surh pidir~ it may c•rusr tu'bc r~nirlleJ. rceardlax~ of wh.ther w?~d pr~mium i~ paiJ b~' \1ariKagor ur !N~~rtg3~ee. ~nd ~ppl~ .urh
prcmium tow;~rds the payment ut prcmium un any such neM incuranrr so payable to the holder ~~f sunc ~ertifcnte.
4, In case ~id N1urtKrgur >h~ll neglect ur refus~ tu k~~ep saK1 prem?se. in Ku.xi repair arnl cunJitiun, W pay prumpdy ~chrn
Ju~ ~I! t~ce~ rnd r~ctscmrnt~, ai J1UIC~JIII, ~17 to removc am~ ctatutur~• lirns on vid prcmicrs, ot tu kcap thc buildm~c~nd
impro~~ments imurrd, as afur~said, ~nd deli~er thr pulic}~ or policies of insuran:e, ur the r~ne~~als therrof, to cvid \tortearre,a.
~furc+aid, Ihrn uid tturtgrKre ma}-, if it ~ti~ll x~ clert, ra~ke rep~irs, ma~ntain cwid proprrty and pry wch ta~e~ ~nd a..r..menh,
Mith Ihc ~c.•rurd intcrc~t, p~nahics, ~~ffi.er'. t~r.. ~nd c~prn~~ thrrcun, rcdcrm s,id prcmises which may have been wld or Fur-
feitrd ti~r t~~~s ur •r~x+,mrn?~ thrrrun, pur.ha~r an~ tax tiilr thereon, rrmocr am• ,tatutory liens and pruxrute ordefend ~ny~
suit~ in rel~tiun lhetrtu, enwre and kr~p mwrcd ~id buildinKS in the ~um, ac aCure~aKi, or fur any les~ sum and fur surh timc, as
s:iid \tungaK~~c m-r}~ dccrn pru~x r. An~ .um+ N~iurh ma~ tx ~u p~id uut b)' vid ~turtY ~ger, and all wmc p~id uut fnr ~ub~titutrd
_ insurancr; as afure~id. ~nrluJin~ tt~~ ~u~ta, e~~xnk~ ;,nJ stt.~rne~•'. Crr p;eid in ~n~ .uit affr~ting vid real e~tate. Khen ne~r,-
~r~• or apprupriate to protect thr lirn hri~ot. sh~ll br~r intencl Irum thr J~tr ~N wrh p~~ nxnts at Ihr vme rate ac ic sFxrd~~~1.
in ttx nute sccured I~ercby. ~c payable afler drt~ult m paymrnt uC vid ~l:lfl'. \II~II I1l' (1JHI I]\" ~,ft(I ~I~IfI~,'3~Uf I/t l;llll ~IUf1lJ~PC
upun demrnd •rnd shall br derrn~d a part vi thr d~bt hrreb} ~cvrcJ. ~nd rcru~~iablr a. w.•h in all recpert._ An> ,urh I«n,
• l'I:~IIOS~ taxes. asse~sments. ot t~~ Iitle~ co (lUfiFl'JK~I. ~)Jq~. Uf ftdtthltll F~Y ~:i1ll ~Iufl~JEt~ tI1:1II. bctw•cen thr part~e~ hereto
~~Il'I( suc~tiswrs in intcr~~t. Z/c (~CC(ITCI~ 1'J~k~. ~U IflJ( Ih (!U t')'l'II( 1~Id~~ 1~1t I1Cl'l'~~II)- UI \~J~It~ll\' O~ any .uch pay~ments Ik I~IS(1UIl'l3.
~Ieitfier xu~h p~ymrnt by ~totteager nor ih cuUertiun Gom ~~Uf1Y:l~Uf .h~ll N":l1~'~ Of :i1~CC1 am~ uptiun, licn. eyuit~~ or right uf
~lurtgr~rc's.
5. (f reyuestc~l by tfie ~tort~~~;ee. th~ ~~ultY:l~Oi, tugrther with rnd in :~dd~tiun t~i ~he munthh• paymrni~ under the terms
of all notes secured herrby, un the Jue d:?y uf rach m~~nthly pa}~ment and until caiJ notes are fully paid, chall pay ro the Norb
~•rtire •rn installment of the t-rxes ~nd a~xc,mentc next tu brcome due ~g~inst the mort~aQed premises, an incta!lmrnt of premium~
next to becort?e due un insured poliries reywrc~l by ~hr Nort~Ree, qnd any other ch•rr~es payable accordin~ to the commitment
i to finance. Such installr?xnts shnll be equal respectively to wch ta~e, :?nd acsessments, incuran~-~ premiums and other rharges, ~!1
( as estimat~~d by the tiiurtgagee, Iess all sums already prid thereon, divided b~~ the number of months that are to elapse before one
~ month prior to the date when su.h taxes and assessments, inwrance premiums and other .harttes will berome due. Said instal(-
j mentc sh~tl be held by thr ~iort~agee /bearing the intere~t ior ~fortgagor) to pa~~ ,urh taxes, asceuments, insur~nce premiums
~ :~nd uther charges. AU pr)'mentc rt?:wde urxie: the term ui this p~ragraph and under th~ nute secured hereb}• sh~ll be ndded
to~ether and the aggregate ;~mu~r! ~!e^re^~ ~ti ti. rhP tinrrv:~e~.r in a cin¢ie pa~~mrnt earh month to be appleed by ihe
f ~lortga~e in pa}•ment of the trrms and in the orJer follvw~ing: lal taxe~ and a.ses.ments, and inwrance premiums and other
~ charges pa~•able ~ccording to the cummitmrnt to tin~nce; Ib) interest on the notec tiecured hereby; ~rxl Ir) amortizatiun of the
€ prinnpai ~f said notes. Any drfic~rncy ire the amoent uf ~urh aggrekate m~,nthl} pa>ment shall cunstitute ~ default under thic
mort~agr. N'hen wch taxes. assessments, insurance premiums and other chargec fall due, if the •rmoums deposited by~ thr \tort-
Y~~ur fur such purpu.r, ~re n~u wtti~ient t~~ p~p .aid ta~r., ac~e.~mrntc. ia.ur~nre premium~, and u?hrr chJr~e., rs thr .~ce ma}•
' Fx_ thrn ~lue. then the ~~U[1~'3YU7 NIII ~1:1\' ~1~ the ~SOfIZ;1Yl'C ;uch Jcfirirn.~ ~mmrd~atch . N`hen ~urh la~r~. a.u~,mrntc. insuranrr
~ prcni~umc and uthcr rhargr~ f~ll Juc. if thr ~muuntc drpo.ited h~ thr >lorte~~or ti~r .u:h purputie~ c~rced thr amuuht~ dur fur
wrh t~ir.. ~~ui.ment~. in.uranrr premium~ and uthct ch~rec., the r~rrti+ m~~~. m Ihr d~krrliun uf thc ~turtea~e~, be rpplird
un +ubceyurnt monthh• pa}~mrnts t~~ br maJc by Ihc ~lurtkagur. In thi• rcrnt uf drf~ult undrr thic murteagr ,,nr un~~pended -
- fundc in thr hand. uf thr \turtt::iK~e dcpu.itrd h~• the ~turtEaLOr to rrtret thr ubl~zati~n+ uf ta~es, asu~.ment~. inwr~n.e
prcmiumc aod ~~ther chargr,, chall br ~pplied hy thr \Iurt~azee upun the indrhtrdnr.c hrreb}• urumd in the fulluNm: urdrr.
(al i~tcrest un ad~~ncr~ madr b~~ thr ~tun~agcr; Ib) ad~:enre. mad~ h~ thr \t~~rt~g~ti: rr1 intcrrst on th~ prinrip:~l: anil Id1 ihr
' prmcipal debt hereby se:urrd. 14'hrn any cuch taxes, a.sescmentc, msuran:r prcmiumc or other rharges fall due the ~I~~C1L:lY0f
i will promplh• oMain and dclivrr tu th~ ~tort~eugee datcmenh w•ith rr.pect thereto.
6, Thc ~turtg•rgor represents arxi agrers that this murtgage luan and all future lo~ns evidenced by the afores:iid promitsoty
notrs which are secured heteb~~ are mrde and extetxled by ~lortgrgee in relianre, in p~:t, on the financial background and abili-
ties uf btortgagor and any ru-makers, Ruarrntots or endor~ers to, juinUy ~nd srvera{ly, pay any and ali v~rious and sundry wms of
mone;• and t6e specifir rate of interest payabte by ~irtue of sxid promisu~ry note~ arxi this mor2gage. These mortgage loans are
understood and agteed to be made and extended tu the ~lortgagor only. It is neither presumed, expressed or ~mplied that the
~bligations crrated hereunder m~y be assumed or pzrformed b~• any party othe? than the Murt~gor, w-hether or not upon the
s~le or rom~eyance of the p~rmises hcrein dextibed ut any part thereof_ !f a com•eyance shuuld be made by the ~tortga~or uf the
prem~ses herein described, or an}~ part thereof, w~ithout ihe w~ritten consent of thr ~tortp,:igee, (w•hich consent ma}• be withheld
arbitrarily or ~ranted on terms selected hy Nc,rtga~ee in it~ w!e dicrretiun.l or ~~ithuut as,umptiun buth by proper e~ecution ot
assumption agrcemrnts arni related forms in use by the Murtgagee and by assumption in regular furm of law by the gr:~ntec of the
obligations created hereunder, then, in either of those events, and at the option of the tfortgagee and withoat notire to the Mort-
KaQOr or to any other party, all sums of money secured hereby shall immediately and concurrenUy and upon such conveyanre
become duo and payable and in default x~helher or not the same are otherKise due and payable or in default bp the specific
term; hereof. Ttir foreKoing option shall be exercised by ~}ort~agee at its u~le and rumplete dixretion. The sforesaid consent of
~tortgagec may be either granted or withheld w~ithout any requiremrnt of the ~iortg:~ee disclosine any reason therefore. Not-
withstanding ihe foregoing, if the ow•nership of the mortgaged premises, or any part thereof, becomes vested ia a person other
ihan the Mortgagor, the Nori,Qagee may deal with wch successor or sucressors in interest w•ith reference to this mortgagee, and
the debl hereby secured, regatdless of any change in the terms of the ubligatiuns created hereunder, wiihout in an}~ manner
~itiating or dixharging ihe '.lfurigagur's lirbility hereunder or upun the debt hereby secured. The ~furtgagor shall al ~II times
rontinue liable for the indebtedness secured hrreby until this mortgage is fully disrharged or ~tortga~or is formally seleased by an
instrumcnt in writing duly r~ecuted by the 51ort~agee.
7. Nort~agur, at the uptiun ot ~tortgagee, chall pay a"late rhar~te" nut excrrding tw~o per centum oi an> vid a~reg3te
m~mthly imtallmenti inrluding ~m installmcnt for payment oi taxe~ and incuranrt uhen paid murc than ten days after the due
date thereof (provided that in no e~ent thall ~id "late char~te" recult in tht paymem of interest in exrrs~ uf thr ma.~imurti
interect permitted b~• !ew l, 1u cucir the r~tr~ e~pense involved in handlin~: drl~qy~rnt pa> mentti. Such "latr ch~r~e" ,hall not be
payable oW uf Ihe pr~eed, of any cale OIJ(IC to ~ticf~~ the indebtrJnr+c .ecurrd hrrehy, unle~s surh prureedc rrr fint wftt-
rient t~~ dicrhrrge Ihe entire indrhtrdnrss and ell proper rocts ;~nd etpenw. ~e. ureJ thereh>. A rcasunrble minimum "late rharee"
wdl be chareecl as custumanly fix~d by Mortgaeee from time to time, and ~t~ut~a~~rr ~Krec~ to pay taid minimum "lai~ :har~e."
~f i~curred.
S, To permit, comm~t or suffer no waste and io maintein the improvemrntc at al! t~mes in a state ot~ Rood reprir :~nJ c~~n-
d~tu~n: and to do ot permit to be done tu caKi premises nuthin~ that w~~ll :,Iter or chan~e thr us~ rnd character uf wid pruperty or
~n any way impair ur weaken the securily of caid mortga~r. In cace uf the reFucal, n~glert or inabi6ty u( the ~turtYagor ta « peir
and maintain said propcrty, Ihe ~lortgagee mry at its optiun makc wch repair or r~uce the v?mc to be made rnd ad~anrr m~~nies
in that behalf which ~um~ shall be secured by the tien herruf
an0 hrrr mtereet ~t the .;,me rate as is sprciPied in the note ~rcured
hereby, as payable after detault in pati mrnt of ~id note.
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