HomeMy WebLinkAbout0844 rior to ent of a'ud ment en[orcin this Mon if: (a) Bor~ower Lender all sums which woutd be thea due undar ~
P ~Y 1 S 8 WYs
this Mortgage, the Note aod nota securing Futuro Advances, it any. had ao acoelention occurned; (b) Borrowe~ cura ~
all breaches of a~y othe~ covenants or agreements of Borrower contained ia tha Mortga~e: (c) Borrower pays all reasonable .
expenses incur~ed by t.e~der iri enfoccing ~he covenagts and agreements ot Borro~we~ cootained in this Mortpge and i~
enforcing I.ender'a remedia as Qrovided in paragraph 18 hercot, including. but not limitod to. ressonabk attorney't [as; and
(d) Bormwer takes:uch action as Lender may ~easonably rcyuire to assur+t Ihat the lieo ot this Mortja~e. Lender': interat
in the Properry and Borrowcr i obligation to pay the sums securod by this Mortaage ihall oontinue uai~npaired. Upon ~ch
payment and curc by Borrower~ this Mortgage and the obligations securod hereby shall rertuin in full foroe and eBect as if
no accekration had cecurred.
20. A~d~ed oI Re~ AppoiMmeat oE Receirer. As additional security hereunder. Botrower hereby usigns to
[.eade~ the rcnts ot the Property. provided that Borrower shall, prior to aocekration under puasnph 18 hereof or abandon-
ment of the Property, have the right to collect and retain such rcn~ at they become due snd payabi!''~
Upon accekntion under paragraph 18 heroof or abando~ment of the Property. l.ender shali be entitled to have a - s
rcceiver appointod by a~,ourt to ente~ upon, take poasossion ot and manage the Property and to rnllect the rents of the
Property, including those past due: All rencs collccted by the roceiver shall be applied first to payment of the costs of
ma~agement of the P[operty and collection of rcnts, including, but not limited to. receiver's fea. premiums on rcceiver's
bonds and rcaso~abk attorney's fees. and then to the sums securod by this Mortgage. 'tUe roce~~er shall be liabk to account
only for those rents actually received.
21. Frtere Aaraeccs. Upon request by Borrow~r, I.ender, at Lender's optio~ withia twenty yean from the date of thi:
Mortgage. may make Future Advances to Borrower. Such Future Advances. with interest thereon, shall be socured by this
Mottgage when evideacod by promissory notes stating that said notes are securcd hereby. At no time shall the principal
amount of the indebtodness socurtd by this Mongage, not including sums advanoed io accordance herewith to ptotecl iht
security of this Mortgage. exceod the original amount of the Note plus USS•
22. Relea~e. Upan payment of all sums secured by this Mortgage. Lender shall rcleue this Mortgage without chuge
to Borrower. Borrower shall pay aU costs of recordatan, if any.
23. Attoreey's Feea. As used in this Mortgage and in the Note. "attorney's [ea" shall include attorney's fea, if any,
which may be awar~iod by an appellate court.
IN WITNESS WHEREOF~ 8orrower has executed this Mortgage.
Signcd, sealed and delivered
in thc presence of:
`~f' • . . . . . . . . . . . . . . . . . . . . (Seal)
c~ta...... . . J; ~
uis Econ , Jr. -aoROw..
~ . . . . . . . . ~a~.r. ~ . . . . . . . ~ . ~ . . . . . . . . . . . . . . . . . . . . . . cs~u,
J Cle patra Economou ` -~eo.~.
' STATE OF FLARI~?.. . . . . . .1'~-C~g~ . . . . . . . . . . . . . . . . . . . . . /~~55: C1/
I hereby cenify that on this day, before me, an ofl'icer duly authorized in the state aforesaid and in t6e county
, aforesaid to take acknowledgements, personally appeared. . ~u?:s Economou, ,Jr,, aiqe~ ,C~~gQpat~r~,, , , , , , ,
. F,~cUIO~I?OtJ~a• 1~.~ •W~~~• to me known to bc the person(s) described in and who executed the
I foregoing instrument and acknowledged before me that. .tbBy. .eaecuted the same for the purpose therein
expressed. .
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~ WtTxESS my hand and offtcial seal in the county and state aforesaid this. . . . . . . . . .~7th . . . . . . . . .day of
E . . . December.
: . . . . . . . . . . . . . . . . . . 19.'T8. .
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~ My Commission expues: j~
~ , . . . . . . . . .Q~!}'X~.1`.-.t: . . . . . . . . . . . . . . . . . . . . . . .
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E JAMES H. JACKSOf~I ,
Motary Public. 1NaI?ne County, Mich.
~ ; ~Ay Commissicxt Expires June 28, 1982
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~ (Spst.e B~bw This li~e R~sl~v~d For Lende~ snd R~CqOOt)
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F!~"cD A"iG RECOROEb' 3f1U3nd ll3N~{2!8 OvU ,
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