HomeMy WebLinkAbout0512 4. Tnat ~n o~de~ to Wotea nwu fully Ih! fK:WitY OI tMt mO~tO~w tM Mu~t~spa. ~oy~uN~ vr~tn s~w ~n a~W~~~x+ tu tne m~~~~niy yar~ntr~ts u~~r tna fr~~na u} u~r
~~ute SM.WBd hereDy WI lit! SpOG6ed p~YnNnl d~l~ OI ~~Ch mpqh unld ifN f~~(1 nUlr ~S (uily ya~d w~il ~Ny W itiQ ASSO~~ol.lin RW tu:tpw.~~y e..rni
lal An ~nstallm~nt ol th~ aaq ~nd ~ss~ssm~np Iw~ed w 1o W~~v~~d aya~nsl tM Wem~~s coverod Gy ttus mu~tya!~e and ~n inslNlm~n1 U~ ~hr yremwm
pr pynrunlt :fi~l wdl pecom~ dw ~nd p~qbN to r~new IM ~nsurs~te on lM p+tm~s~s tovared h~~~by sya~r~sl Ia.~ by t~re and w~ndawrn, as v~ov~ded
!w by pjr~pr~ph 3 W~cW~np a such oth~~ h~t~rd ~f rMY aasonsohr b~ rpu~rW by tne Assoa~twn and yn ~ns~al:m~nl of ~M 4~emwm uw~ wai
~ ~ecome due snd paysbl~ to an~w ~M matpsp~ ~nsursnc~ d sny Sucn ~nst,llments s~~6 w euua?. ~esVSCUVe~r ~o w~e tweihh 1 t~ Zml ot ~na es
ama?sd wem~um a prsm~ums fw sucn ~nsu~~nt~ ~nd t~~~s and ass~sams~la ne~t due l~s est~malsd by !M Aswu~l~cx~l less at1 ~nstatlmenis alceady
pa~d ~her~fo~. drod~d oy tlw numbN ol montns that N~ 1o t~~ps~ aa month pnor to Ihe dst~ wMn wch pem+um a prem~ums snd u~es aruf
assc3sms~is vwll b~tOrtN dN~nQuMt TM Assoa~twn. whiM ~pp~y~np such paym~nts to ~~sur~nce Wemwms. taass sntl ~ssess~nents belo~e ~he same
become debrpwnt. shall npt psy ~niN~sl to lM Mptp~pa on fuCh funds and ~il suCh paY~^ents may W comm~nplW DY tAS Assoc.~aUOn anlh sny
oine~ such lunds a w~th ~ts own funds TM ~u~+ds ar~ pl~dp~d u sOd~twn~l s~cun.y tw tM sun~s sQCUred by tMS Mon9sye and ars wb~ect to use by
the Assoaatan ~n p~ymMt o) "I~q cMrpat' ~nd bank co~Nctwn cASrpss
IM All payments rn~ntwn~d ~n ths pncW~~p tu0s~ctwn ol tMS ps~~~sph and slt paYme^ts to bs mads unde~ ~he ~ote secured he~eby sha~l be added
togetner and tbe ayq~spah amoum tMr~ot s~~u b~ p++d by tAS Matya9o~ eacn montn ~n a vnyle psYmnnt to be appl~ed by ths Assot:~aHOn ~o the _
to1l~w~ng ~tams ~n the ordsr s~t fath 1 Taaes. ssseum~nts snd msunnce prem~ums 2 Late cha~yes anif ba~k coliectan ct~a~yes uNess pa~d ~n
manner prov~ded ~n parapr~ph 4 Ia1 3 Interest on t~e note secu~ed herebv ! Amorwaua+ of ~ne p~mupai o1 ~~d note
Any dehuenc~ in the amount of such agprepstf montMy paymsnts sMll. unless pa~d by IAe Matgayor p~~a to ~nt due date ol ths next wch payment con
strtute an eve~t-ot default under the mwtpsge Witlw~l wswtr ol anY r~ht. tAe Assoc~stan may coliect a'~ale charpe" as prov~decl ~n the Note
5 That d the total ol the paYments msde by th~ Matyapa urW~r 1~1 0~ par~yraph 4 praced~h9 shaH eaceed the aR+w,nt ot paymems actuall~r made by tne
Asso~:~at~un fa taaes snd asssismenls snd ~nsur~nct D~emwms. ~s tl+e css! may be. suc~ excess sha~t ~ cred~ted Dy t~e Assoc~at~on on su0sepuent payments
to be maAe bv the Matgaga If nowever. tAe montMy p~Ymems made btr ~he Mortpaga under fal o~ parag~ap~ 4 preced~ng shaU not nave bee~ wffn;~e~t to
pa~ eaaes a~d assessments snd ~nsunnce p~sm~ums is tht c~t~ may bt when the same s1W1i become due and paYa~te tne~. the Asux~auo~ may at ~ts op
nur, ~mmeA,a~e1y oay such taRes a~d ssssssm~nts an0 ~nsur,ncs p~sm~um. and the Matqagor sha~i pay ro ~ne Assuc~auon a~~y a~.+ount necessarv to mawe up
the detK.en:y and wch payment shsll ps due and psyaae w~thm ~hu~y 1301 dsys a/ror iAe daie ol mad~r~y oi not~ce by ihe Asscx~anon sett~ny I~rt~ ine amoune
o~ such de~~uency 11. at any t~me. the Mwtp~yor sh~N te~d~r to the Assot~auon m actorWnce wnA tt~ prons~ons o} tne ~~ote sec~~ed he~ehY full payment oi
;hr enure ~ndeb[euness represented hereby. the Assoc:aUOn sh~il. ~n compubnp tne amount ol such ~ndeGtedness cred~t to tr,r accoum of tne Mortgago~ any
twlance remam~ny ~n t~re ~unds stwmul~tsd undl~ ihe p~ovrsiooi ol (sl o~ R~~ap~aph 4
ti To pe~m~t, comm+~ or sul(sr no wssb. impaument a deter~stan o~ sa~d prope~ty. a any part t~~ereuf a~d u{wn lRe fa~~ure n~ tne MOrtgagor tu keeD ~he
bu~~d~n,~ o~ sa~d propCrty ~n good tond~twn w rps~r ~nd ma~rtena~ce. the Assocul,on may dema~xl Woper ma~~tenarice d~d ~~e ~mmed~ate repair o1 sa~d
bu~id~nys o~ a~ ~ncrease t?~s artwunt of secunty. a ihe ~mrrfsd~ate reDayment ol the deDt ne~eby secured arx~ ihe ~a~~we of ine Mongago~ to comply w~tn
sa~d demand o~ t~e Assoaatwn fa s perwd ot t~~rty 130) d~ys sha~l tw+stAUte a b.each o~ tMS mo•tga9e and. at 1he ouuon o1 the Assouatron. ~mmed~atelv
mature the entrte anwunt ol pn~apal and ~nbresl herebY S~tw~d. and ~he Assot~atwn ~mmedutely a~~d wrttx~ut noUCe may ~nsLtute proceed~ngs to lorecbsC
th~s mwtgaye ancf apphr ~or the appo~ntment ot i recs~ver. ss he~e~nsfter prov~ded. and ~n case of the retusal. n~ect or ~nab~irty ol the Mo~t9apa to repau and
ma~nta~n sa:~ p~operty. the Auocutron may. at rts opta~. maks such repa~~s w cause the same ~o be made. a~d adwnce mo~eys ~n that t,e?~alt.
7 To pertam compfv w~th snd sbde Dy eacA ~nd every tns supulatans. sp~eements, cond~t~ons and covenams sa~d prom~sso.y no~e and tMS matgage set
lorth
8 1o comply w+th the subdw~sron restr~ttwns snd th! murot~p~~ tomnp ordm~ntes app~~teWR t0 th! ~*w~tgaged propCrty noi to e~ect or perm~t to Ge erccted any
new bwrd~ngs on the prem~ses here~n mortgapsd o~ to sdd ro a pe~m~t to be added to make o~ pe~mrt to be made any structura! alteraUOns to anY of the e¦
~st~ny ~mp~ovements tnereon w~thout the wntten consent oi the Associat~on. and tne eve~t of any ~w~at:on or attempt to v~otate tnese sUpu~atans or any o~
them ~h~s mortgage a~x1 a~~ sums secur~d bsreby shaN immed~ate~Y betome due and parabte a2 cne oDt~on o1 the AssouaUO~
9 That m case of a default ~n any of the terms o} th~s mortyape sr+d the M:np of a bd1 ~o forecbse tn,s o~ any other mortgage enwmbenng the wrt~~~ descn~ed
proper!y ~he Assoaaaon snait ~e e~uded to app~y st snY hme wrtAOUt not~ce pend~ng such forecbsure sw2. to the ccur2 nawng ~u~~sd~ct~on tnereol for [he ap
~o~ntmen[ of a recewer oi atl and s~nyular the mwtpsgaA prope~tY• and ot a~~ Me ~ents. mcomes p~of~ts ~ssues and ~avec~es the~eol. from wAatsoever source
dEr~vBd and thereupM~. rt ~s hereDy axpressiy covenanted and aQ~eed :hat ttu court snau forthw~tn apPO~ne a~ece~aer o~ sa~d mprtgaged D~ope+ty d1! aciQ
vngutar and of suCh rBMS. ~nCOmlS. p~0l~tS. ~SiulS end ~lvEnuYS thlrepf. NOm whatsoever wurc~ OenveA. w~th the ~wa! powers and duLes ot re[e~vers ~n hke
cases and such appo~nfine~t shali be made bv such court as a matter ot stnd ngnt to 2he Assoc~at~on. and w~tnout ~eference to ~r+e adequacY o~ ~nadequacy of
the vaiue o} the p~operty hereby mort9agOd. or to the solvency or ~nsplvency of the Mortgago~ and that suc~ re~ts p~of~ts ~~comes ~isues and ~eve~ue~ sha11
be app~~ed bY such recerver to the Daymem oi the ~ipape ~~debtedness. costs and charges. accad~ng to tne o~der o} suc~ cou~t
' 0 . That ~n the event the ownersh~p oi the mwtyaped prem,ses. a sny part thereot. becomes vesced ~n a ce~soo otne~ t?w~ the Mortgagor, the Assoaauon may
va~:rwu~ nouce ~o che Mortgagb•. dea~ wah sucn succeuo. a wccessors m~n2erest w~th reference to 2h~s mor[ya~e and ~he debt he~eby sec:ured. m the same
ma+~ner as wrth the Matgago~ w~thout ~n sny wsy v~t~aunq or d~uharp~ny the Mo~tBagor s t~abd~tv he~eund~j ~(~ipo~~j ~~pil~iy[lsecured No sale o~ tne
prem~Ses fiereby mOrtgagBd end n0 fOrbOi~if~Ce On thE p2r( Ot ih! AfiO!'NLWn. antl n0 l~IMS~on Ot lY~ Ume9Qr 1d~rr~~~/~t~~t he~eDy sewred g~ven
by the Assoaat~on. sha11 operate to reiease. d~uharge. mod~fy chanOE Or aHecc ine or~g~~a1 ~~abd,iy o} ihe ~~AOQ~19~~s+{her m whOle o+ m pdrt
~ t That ~n the event the p~emises nereby mwtyayed. or ~ny part !ncreot. sha~i be ca~demned and taken u~der ~tR.qpw~r ~g~ ~~~n~qp?~. the Assoaanon sna~i
nave d~e nght to demand that aU dama9es awsrded fa the tak~ng ol or ~niury to sad prem~ses shati be pa~d to the Aswc.ptqe~, ~~s
w~ or ass~gns up ro
u~e amount then unpa~d on th~s rt+ongage aod may be appi~ed !o a~r wms ~asi payaWe hereunaer 4i1324
' 2 Tnat ome ~s ot tne essence of tn~s contract a~d that rw warve~ o~ anr ubi~9ahon hereunde~, a o} ~he ob~~~tr~~ ~ured~r~yts~a{~r~ ume tnereafter be
held to DE a warver ot th! terms hereof Or of tAE ptom~sSOry note SEtured Rereby
~ 3 In ~he evtnl O~ 2nY dCfaull m any of the ~erms ot t~us mortgape. or m th! ~Ot! SlCUted A!rlby aM acceterauo~ by the no+ae+. or an~ other s~tuanon that woum
cause sAe ~n[erest pa~d o~ payable under th~s obieyat~on to eYCeed tht interest rate authonred by ~aw. then suc~ event aii eacess ~nte~ese theretofo~e pa~d shali
be cr~~ted co D~~++~~Pa~ and all accrued and unpa~d e•cess mterost sha~~ abate and shali not be an obl~gat~on oi the maker a of any other person
' 4 Tha2 to the e¦tent ot the ~ndebtedness ot t?~e Matsapa to the Assouatan deunbed heiem or ~cured hereby. the Assoc~auon ~s hereby wWogated to [he !~e~
o: hens and to the nghts of the owner and hofder thereot of eath and every mortgape ben or other e~cumG~a~ce on the tand Cescnbed herem wh~cn ,s pa~d and
sahs~~ee. ~rt whole or m part out o( the p~oceeds ot the ban descnbed Aere~n or secured hereby. and tne respect~ve I~ens of sa~d mort~7afles. I~ens or ocher e~
cumbrances. shalt be. and the same a~+d esch o1 them hereby ~s prese~ved and shali pass to a~d be hetd bY ~?~e Assoaa2ro~ here~n as secunty for the m
debtedness ro the Assouatrort here~n descnbed or hereby sscured. to the sam~ eate~t tAat ~t wouid have been p~eserved and would 1~ave been passed to and
been held by the Assouatan had rt bee~ duly a~d reflu~a~~y ass~pned. translerred set over a~x1 de~~ve~ed unto ine Assouatwn by separate deed ot ass+gnment
notw~tfistand~ng the fatt Ihat [he Sam! may ~e sabsfied and pncE~~ed ot retord, d bemg thB ~ntenUO~ ot the part~es hereto tAat the same indl be saDS(eed a~d
cancelted o~ record by the hotders therepl at or aDOUC tAe t~me o~ the reco~d+ng of th~s mortgaye
i ' S That d any of the sums o~ money heran referred to be not promptly and tutly pa~d wrthm 2nuty ~30i dars ne¦t a1~er the same seve+ally become due and payaWe.
4 or ~f each and every tAe st~putat~ons, agreements. cond~t~ons and covena~ts of sa~d prom~ssory note and th~s mortgage o~ e~V~er are not du~y perfamed com
~ pl~ed w~th and ab~ded by, tne aggregate wm unpa~d unde~ Si~d prOm~S50ry nOte 2nd th~s mortg2gE shail bECOme due and pdy3We forthw~t~ O~ the~CditEr. 3t the
! ~w~~o~ o~ the Assoc~atwn. as fulty and complets~y ss d sa~d sgpregate wm ot mo~ey we~e ong~na~~y supula:ed to De pa~d on such day. anyth,ng ~n sa~d
i prpm~ssOry note or berern to the COntr~ry nOtwilhstind~ny ~
~ y py g go pay any ~a¦ assessme~t. i~ab~i~[y. oD(~ga-
~ i 6 T~at ~n order to acce~e~ate the matunt of the ~ndeDted~ess ?+ere sewred because of the ladure of the MwT a ~ to
~ hon o~ encumbranca upon sa~d prOperty as herem p~OV~dld. rt shall nOt be necessa~y nor repw5~te that the Assouas.on snall hrst pav the same
it a conveyance stwuld Oe made by the Mortgago~ o~ the prem~ses here~~ descnGed or a~Y Part hereo! and the g~ar,tee na~ned m such conveyance ~a~~s or
~ refuses to assume tbe payment oi the oW~gatwn ev~denced by sa~d p~om~swry nute ard aecurrd br th~s mo~tyeye a~~d a~~o~dance w~th tt~e~r respe...~.e
~erms anA ab~de by the rutes and regutaUOns of the Assoasuon. ~ncfud~ny Cayment.of a reasonab~e transte~ ~ee U~en. aRd rna~ event at t~e opuon and upon
~ the demand of the Assoc~aUOn all sums ot monsy SlCUr@d herlby S~aN ~mmed~at8ly bCCOme /orthwith due and Dayable
? 8 That the absdact or abstracts of btle covenn9 the mortpaged property shali at ai~ umes du~~ng ~ne ~~fe o! tn~s mo«yage •e~^a.n m the possess~on o~ ~ne
Asscaat~on and m event o~ the fo~ec~owre ot th~s mortyage or otRe~ transfer ot i~Ue to the mortgaged U~operty ~n eat~nyusnn;ent o~ tne :ndeDtedness sew~ed
he.eby.. aN nght. t~tie anA ~nterest of the Matpagor m a~d to any such atrstrac[s of ~~t1e sha~! pass to the Duic~aser or yra~tee
' 9 Snouki the va~xl+ty or I~en ot ch~s mortgage. or thp note secured tl~ereby. be contested by ~•uga~~o~ o~ otne~w~se the Mortgago~ ay~ees to paY to t~e Assx~at:on -
~nv ~os~ o~ de(end~ng the same ~ncludmp a ressonable anorney s fee
To pay all and s~ngutar the costs, charge~ and e:penses. mcludmg attomey's fees reaso~ably mcurreA. or pa~d at any hme by the Assoc~aGOn. because of the
fa~ture o! the Mwtgago~ to pe~tam, comply w~th aod ab~de try each and every ~be st~p~~iatrons agreements cond~t~uns and covenants of sae!f prom~SSO~y ~o[e
and th:s mortgage. or either, and every wch (except for tbe paymem of the mon[hty mstaUment as requrrod by the Prom~swry Note! sl~all bear m,erest fiom
date at the rate ot ;an per ce~t 11096? per ennum u~bl fully pa~d
~ z t Tne Assoua[~on snalt have the rght st any t~me and from ume to t~me a~d w~~houe not~ce eo or consent oi any Qerwn to (ai ~e:ease any portwn of the p~em~ses
<<om Me he~ of th~s mwtgage. IDI re~ease a~y perspn I~able for psymem o~ any ~rWebtedness secu*ed hereby !c~ eate~d Me ume o! Dav~ent o~ aiter the terms
O~ peyrr~C~t O~ All Or aDy pa/t O} ~A! ~ndebtedness. nnthout aNecUng or reteasmg the personai habd~tY of any persvn fiable ~othe~ t~dn dny pErgpn re~eased pw
suanf heretol tor the paymen2 of any sum or ~nterest secured hereby a~dWrthout ~n any w~se a~tenng vary:ng rn d~m~rnsh~ng ihe ~O~ces efiects. or t~en o} ti,~s
~ r+~.tgage on all the prem~srs not specd~callY reteased from th! ;~en ot th~s mortQage bv the Assw:.auon
22 Any ay.eement hereaft?r made by Mortyaga and Assouat~on pursuant to th~s mortgage sha~! be su~~eno~ to the r~ghts of the ~o~der ot a~y ~nterven~ng i~en o~
~ encumDranr_e .
~ ~ 3 Upon request of Mortgagor. the Assoc~at~on may. st rts sole opt~un. from hme to ume before fu~~ payment of a~l ~nclebtedr.ess secured hereby make further ad
va~ces to Mortgagor prpv~ded. howeve~. that the totsl prmapai secured Aereby a~d rema~mng unpa~d mc~udmg any wch advar.ces s~atl "nOt at any Ume e¦
ceed Ihe ongm2l pnnC~pal Sum SlCU~Id herlby MOrt03QOr Shatl pay ~II SuCh furthet Bdvd~c23 wrth :ntereSt d~d ibC samE Shd~~ be secured hereCy Ail prov~s~ons
- of t~~s mortgage shall apply to each further sdvance ss wetl ss to ell oiher ~nOebted~ess secured hereby Noth~ng here~~ conta~ned however. stiatl I:m~i the
- amount secured by th~s mortgage wch amount is mtrused by advantes made by the Assoc~at~on as he~e~n e~sewhere p~ov~ded ior to p~otect the secur~ty
~ 2C In the evem the Mortgagor herem, or any wbsequent Mortgaga. w arry person or corpaat~on owrnng any mterest whatsoever. sh~wtd encumber the property
herein morigaged by an ~nstrument tommWdy reterred to and known as a"'wrap around mortgage' wrthout hrst obta~rnng the wntten consent of the Assoc~a-
uon. then. at_the optwn of the Association. the obhgata~ secured by ih~s Mwtgage shau ~mmed~ately become due and payabte
~ 25 To prov~de the T?s~soc~atwn nnth Flood Inswance Covessge if the real property ~s now or hereaher dererm~ned to be v?,~m~ a speaai flood hazard area as.stwwn
~ on Flood Har~d Bwndary Madflood Inwrance Rate Ma~ as publ~shed by the iederal Inwrance Adrrun~stratron
~ STATE rJF~ Missouri COUNTY OF ~~~t, ~r~As
~ The foregoing instrument wa.s ~T~pv~l0dged b ore me this ~ th day
E-7s of July, 1978 by BARBARA NEWbdAbT~~="•`~'..~ ~.,,~,,~s•"
~ ? ~~v~~ F ~ ,
i MLCA 40 MY commission expires : t~Sarch .~;g~~1Q
~ ~ • 4 . _ A
~ O_ Ary tl C J ; B. Borgtnan
~ ~ . ~ F~/~~ r ~ih/ •~,~i' .~:I,~
~'.C( PAGC .;i., I ~ - _
_ ~ ~I/o'j'y `f
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