HomeMy WebLinkAbout0929 7. If aer ol tA~ ~umf ol mon•y A•r•in r~l~~r~d q M nol p~ospflp o~d fullp poid wifhie fihNn t1Sl doy+ n~a~ oFt~r ~A~ win~ wv~~olFy beco~ du~
and poyo4l~. o~ il eocM and ~v~ry M~ f1iPYIOf/0I1~, opr~enNnt~, conditions ond co.~nonM ol wid p~omiswry no?~ ond ~hi~ morlpo9~. a~itA~r. or• eo~ du~r
p~rfo~m~d. co~plied wiM ond obid~d br. 1M opprpot~ ?um ~ntion~d in w~d pro~isary not~ ~Aoll b~cow~ du~ ond poyobl~ forthwiM o~ ther~oh~~ 01
~M option o! IM Morqop~a. o~ fullr and cowpl~tily as il w~d o99~pati ww oi mon~r wos wiyiewlly stipulot~d to be poid on such doy. anythiny ie
~o~d Proa~iffwy not~ or Mnin b fh~ tontroty noMifh~lcndinq.
6. To d~li.~r le w~d Mo~t~ope~, o~ w b~fo~~ MorcA IStI~ of ~och y~or, foa ~cc~~pt~ ~vid~nciny ~h~ poyw~nl 01 0ll lowfuily ia~pos~d toa~s fo~ tA~
pr~c~ediny col~ndar ytar, lo d~lir~~ b wid .NortyopN, t~c~iph ~videnciny M~ poyawel of oll li~ns IM PYbIK improvem~nls wiMin nin~tp ~90) dayti ofl~~
~h~ io~ ~holl becon~ du~ and poyab4 and lo poy or diuAorp~ vuithin nin~y l9p) days oft~r dw dot~. ony and oN 9orernaenlol I~vi~f thot nwy M ~
mod~ oe ~h~ ~ort~a9~d prop~rty, on tAis .worlyoy~ or nob. or in any oM~r woy r~wllinp (~ow~ M~ Mortgop~ ind~bledno~i s~cvnd by Mis morf9op~: ond
~t ~Ais condition be no1 coe~pl~ed with ond p~r(oriw~d, wid iwortpopt~ mo~r pay wch wiw or fuwf whicA ~holl b~com~ part oi tM d~bf wcurtd 6y lhis
morepoy~, end ~holl b~o~ io~erest of the waN rol~ os tA~ .~oApoy eob, payobl~ w~~wnn~olly vntil paKl or ioid Mortyo9~a mar •lecf t6ot wid rnoA•
gup~ dcbt Mereupon b~canN dw and poyobb forthwith.
9. It is fu~lhsr ~or~nonteu ond opre~d by wid porti~a Ihot in 16• ~veM of o suit Miny insti~u~ed ~o (orecbw thit mo~l9op~• IA~ Mortpoye~ tho~~
be entitled to opp'y ol ony t~me p~ndinp ?~cA for~closurs suit to ~h~ court har:n9 jvr~uliction Ih~~eof io~ th~ oppoinf~n~nt of o nceir~r ol oll ond ~inyulor
rhe mo~tgoyed proFerly, and ol oll ~h~ renb, incomes, prol~h, ias~n ond rarenu~s th~r~o(, frow~ whotware~ source d~rir~d; ond thersupon it if 6~nby
eapresslp covenonted ond ogrrtu ~hol M~ courf sl~oll fortAwiM oppoin~ o~ecsiver o( wid morlpoysd p~op~rty, oll and si~qular, ond o1 tuch r~nh, ie~-
cc.Tes, p~olitt, issue~ ond rev~nus th~r~o/, fron+ whalsoe~er sarrte deri~~d, wifA M~ vsuol pow~rs and d~t~~s of receir~rs in lik~ caus; and ?uc6 op-
pointmenf iholl be nwd~ br +~cA coarl os o mott~r of slrKt riy6t /o ~h• Mortpopee, ih succeison, I~yol repiexntotives or osaiyni, ond witAovt reference
b th• adequoa~r or inedequocy oi fhe rolu~ oi Me proFerfy Aereby enortyayed, w to the solvenq or inwlvency p( tht Mwtpoyor, ond thof wch rent,
protib, income, issuet ond rrrenves sholl b~ opplied br sucA r~c~~ver to 1A• porn~cnt of fh• iwortqoye indebNdnhs, cosls ond chorp~s, occo~diny to
rhe order ot s~ch cou.t.
10. Upon ony delault ~ader the mo~tyo9e note o~ ths ~ortyoy~, a~ 1he optan o( M~ 6older ol the mortyo~e not~ th~ unpoid balonc~ of ths
morepaye noN ond any od+onc~s .rade und~? it, or the nartpop~, top~ther with inMr~t1, shall b~come dur and payobb, ti~ne b~inp of 1he ~uenc~ of
this controd. Any `+oire~ ol any poymenl und~~ tAe noro or inorlgoyt ot ony itnN shall no1, of any oth~r I~n+t, be ~ekto to be a woirer of Ih~ Nnns of
the no~~ or nwrtyope, ond the occeptoncs of poymenb upon seid indebtsdnea sholl not conit~tut~ a w~iver of th~ optio~ of Ihe holder oF ~he not~ fo
occ~'~rote r~poymenl of th~ ennre ~npoid bolonc~, unkss th~ holder ~apret~ly yronh suc6 woiver in wr~ting.
11. II oll or any porf of fh~ prop~rty w an int~resf therein if sold o? frentl~rrod by ~aorl~ogor wifhouf moAgo~ee's prio? w~ift~n tonsent taclud-
ing (a) the c~eotion of o lien a~ encurbronce subo~dinole ~o this mo~tpogs, (b} a~rons(er by d~rise, dexenf, w by operatron of luw upon the deofh of
o joinf tenonl, or, lc) the gran! ol any kosehold inNreif of Mr~e l1) yeora or leu nol conloininy on opt~on to purchau, or (d) the creotion of a pur-
cheu money tecurity i~teresf for Aouu6old opplionces, mortyoqee nwy ot mortgeye~'s oplion, declora oll suma securcd by tl~is mortyaye to be immediately
due ond poyobk. Mortqaye~ shoN hwe woiwd such option to occelerote only i/, prior to t6e sale or tron:(er, mortqopee ond the person fo whom fhe
properfr is to be w~d or tranaferred reoch ayreement in writiny thet iuch p~~y~rt is a qvalified bo~rowe~ to M• satisfoclion of mot9ogee eaerc~sed
:n ~h sole diuretan and Ihot cny modificotions of temi~ of the mortgage ~oon os ors rcquired by mortgagee in ib wl~ ond obsol:~b diuretion which
modif~cations mar includ~ wiMout I~mitotio~ the rote of inl~resl poyobk on ths sumf secured by th~ morfqoge lo a role as rtquested br mortgopee
~10Y! blf11 09~!!d YPO~I-
li mortqoy~s exerci:e: tuch option to wcelcro~e, mortyogee iholl mail mortpogor nofice of accaleralion by depositiny wid letter in the United
~7 / -7 CJ
Stoqs Mail, po?to9s prepoid, lo the followinq odd.eu: 3G s' ~(,L/. ~,yi,»q /isrq /c.rr ~T.l~.r.~ ~y 33 J~~Z
Such eotice sholl provide a period oF not Icis thon thirty (30~ doys f.on~ the dat~ the eotice is .roilcd, within which mortgogor may por the wm de-
cfared dve. If ~no~tyo9u foils to pay such sams prior to the eapirotion of s~~h period, the loon iholl b~ in dc(wlt ond mortyopte moy, withovt turtAer
not~ce or d~aand on mortpogo~, invok• ony remedies as provided fo~ herein upon the ~venf of default.
Any woiwr o~ ony poymcM vnder fhe note o~ moAyoge ol ony tin~e aholl not, of any other time, be token to be o wo~ver of the hrms of the
no!e or nanyaqe, ond the ac~eptonce of poyn~eMS upon soid indebtedness shall not constitute o waiver of the optio~ of the mortgoyee fo occekrote
the ind~bMdneu as prorided /o~ h~rein.
12. ti ~ conver~~e ahouW be ~nade by N~e inwtg~go. of the pre~++:ses he.e:n deu~~bed, a~Mr paH thneof, ~+d sbou~d ~ht gwnle~ a any subse
qven~ gr~~?ee under s~~d convey~nce, who Ms asawned ~he nwngage +~d ~ndcbtedness. be in de(~ult by vutue ot s be~ch of a~r ol ~he prw~sions
ot M~s n+o.fq~qe or ~he pov~sa~s o~ any assu.np~wn ~qree~+em wrth ~he mo.~gagee, whe~r a no~ s+~d sssumplion aq~eement naddfie~ the tsrms of
f~+e mwtgage aod ~ndebted~+es~. tAen a~d N+ere(pe. U~e mw~~go. he.eby co~senb eo ~ssurnp~an ~rd the pravisions of any ~ssumption sgree+n~nt w~tl+
rhe ~no.~gagrr, a~d ~o any ..~od~f~u~~ons of the K.ms a p.ov'~s~«n of ~he mo~~g~ge ~nd indeMedness ocusioncd by fa~d assumpt~on ~gr~ement and does
}w~her he.eby gr~m Me n+o.~gagee ~he r~ght ~o q.an~ e¦tens~ons o1 ~~rne to ssid 9ranMe withovt nwification o(, w~tho~A the consent of, and w:tho~A sffM-
~ng ehe I~ab.Lty ot tAe ay~~al rno.~g~go.. a any subsequent mor~g~gor-
1~. When ~ny ~nwun? of mw~e~ to Ae ps:d by ~hc enatg~qw to ~1~e mort9aQee ~w~der the ?~rnn hereof shatl b~ in def~uh, a should the mortgagor
de(a.h ~n ~ny o( ~Ae o~her ~e.en. pov~s~an w cad.tans o( M~a marqage, tAen in ~Mt c~se ~he n~wtg+gee fhall h~w the riqht, w~thout rw~ice to the
rnwpaga. a cd4ct ~~d rece:ve Iron. any tenant a kssee ot w~d mor~qaged pem:ses tMe ~enb, issues and pofib of the real estate hereby matg~ged
and ~he :~npovemenr ~hereon. and lo q~ve proptr rece~Dh and ~cqu:tf~~ces the~e(a. ~(ier p~yinq ~tl ca~r+wssionf o( any rontal ~nt cdkcting the s~me,
~~d ~~r reasoMWe •no.eeyi lees a~d ahn necessary eapenses incurred ~n cdlect:ng s~~nt. ~o ~pply t!K proceed~ d such cdlect~on upon a~y indebred-
ness. obl:9~~~0~ or G~b.l~ry, ol ~he mor~gx~a Aerew~der. The rgM granted the rna~~9ee under this p~r~yrapl~ shdl be in addit~an to, and sh~ll not I~enit
d IHtIiC~, ~~y wher r:gAt w r~yAts g~an~ed ~he mwtg~gee ~e+ drs rnwtgage.
1!. Th~~ in ~he ~~enr Me p.emises MnM ~no?W+ped. w rnY W?t ~he«of. sMll b~ wndeer~ed ~nd qten fw pvbl~c uf~ under fh~ power of eminenr
doen~m. N,. Mo.qpe• sh.il i+.re M~e r:phe ro de~n«~d ~M~ •11 da~naqes •wwd.d fw ~Ae ~~krg of or dama9e~ to w~d pnmists sMll b~ piid to tM
Mw~ppN up a Nw anwun~ rlNn unp~d on M~~ n~wrOp~ ~nd N ~M opt:on of tM Mw~yaye~ rnay be ppl:ad vpon H» p~yn~?b I~st payabb ~Mr~on.
1!. The n+weypor b:nd~ h~~nself not b treN w p~m~it b be ~reded ~ny ne.v bu~Wrq~ on d~e p.em~se~ Mnin enwp~d o~ b~dd b w pennit
' fo b~ ~dd~d a~r ol rM ~s~s~.ny .mprovementa tFKreon w~k~ ~ny charqe~ o~ ~Inr~r~om in wd:~nproven+enn which inate~i~llp ci+anpe th~ s~n+e o~ tM
' uw N+e.~of, w~+hou~ N+e wn~een cw~~ent of N» Mo.t9pN. ~nd ~n dw ewm of N+y v~olnion a~nempt to v~ol~N tlw ~upulation Hw nwrtyp~ and dl
~ we+s wcunA Mrf~ ~INI) qMMdNttly blCOnM dW ~1d COIIKiibM ~t IIN OPfpA of N~ MaqpM.
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~ I~r ~.eed N+at ~N~» a of ~M ~ss~nc~ of oonn~q and d»t no warer of ~ny abGqatan hKeundK or of tM oblipatwn ~sand
~ 1~ If iq ~ci(K~1
s F~~by ~Aalt ~f ~ny ~~r» be I+rfd a b~ a wMwr of ~ Nnw~ Mrwf w oI ~M imrrunwnr wwnd Mreby.
t
~
~ 17. li fo.eclowr~ proceed:nqs, oi «+y a~cond wanqp~ w second hvs ~ deed a~ny jun~w I~en of ~ny kcnd ~Aa?Id b~ imt~futd, tM Mortpp» m~y,
} its option, w~wn~d~~el~r w rher~~fter d~cl~n thu enorqay~ ~nd tF~ indebredneu wcu~ed hereby dw and papabl~ fortl+with, and enay tl in op~ion prou~d
r b for+clos~ thi~ morpp~.
~ lt. To ~M ~a~em oI +M ~ed~bt~dn~a of ~M Monypa w dw Monypee dexrbed I+ere~n or ~ecured I+er~by th~ MwtypM b hneby wrbroqaad w
~ d» Iwn w IiMS ~nd w ~Ae .qhn of ~M owr~n r,d holdrn 1l~e.wf of e~ch w+d every w~w~yage t.en or o~he~ +rcumb~ana m tM I~nd deu.ibed be?ein
~ wAid+ ia p~:d ~nd/w ~ari~fwd in wlwle w in pNt out o~ ~hs p?oc~tds o( Me ban d~sc+~bed he~e~n a ~ecur~d hereby and tht h~p~etiw liNn of raid
^+weppt~, li~ns o~ orher r+cwnbr«+ce~ sh~ll b~ ~ tM un» w~d ~ach o~ thern hereby is peserved and sh!II p~ss to ~nd be hsW by Ih~ Morq~~ henin • _
' N ~cu~ity fw tIK w~deb~~dneii ro the Mo.t9ag~ Mre~n descr~d o~ Mnbr secwed, a the sam~ ~:~sn+ rhat it wauld Mw been pr~~erwd ~nd would
~ 1»w been p~swd w ~nd bte~ luld by tAe Mw~ype~ hd h MM duly and reyulalp ~ss~yned, n~nslerr~d. ~et over ~nd deliwnd unw th~ JNortpp~~ M
wpar~N d~~d oi sap~nt notw~rhs~a+dwg tM t~ct ~hat tlw t~ nyy b~ sansf~ed and cancelkd o} recad, it beirq tM inta?tion of Nr p~rti~s h~r~to
~ +Mt dr urill be saos(Kd ~ cM+cslkd of r~owd by ~ hold~n 1Mreo ~ N or ~ba~t tM tin~~ of 1fie recwd~g of thi~ nwr~~p~.
a,
s 11. To pay d1 ~od sw+qul~r ri~e cosn, durqes ~nd ~apnnes, mchd~^9 I~wye:
s/~es, rt~son~bly incurnd w p~id tl+^fi tw~ bY 1M Mor~pp~.
; e.~«... or a,. r.~~~,.~ o} ~he Mw~yagor b perfcrm, coinply with md ~bide by e~cA and ~very ti~ st~pulations, pnen~enp. caditiau. ~nd coveeynri of wid
- praerswr~ nw~ ~nd this d~ed, a e~the~. ~nd ewry ~ud+ p~yn+ems ~hall bea? inlaYest frwn dN~ N tFK an+e r~te ~s th~ matya~ nWe.
IN WITNESS WHEREOf, d+~ sad Mwtpapa I»r~w+b aNS Ais haed and s~N ~hii 1!w d~y and y~M f4sf ~bw~ wri11M~
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r Sipn~d. ~obd, ond ddiv~rsd , ~~'~~j ~ ' ISE/1l1
- FRED C. MAF.TIN
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