HomeMy WebLinkAbout1432 ihaU luvs the option to receive ~nd spply the eame on acoount of the indebtedness secured hereby or to permit ~
said Mo~tgagor to roeeive ~nd uss it or any part thereot tar other purpoaee witMut tbereby w~iving or impairing
any equity, lien or rigbt under or by virtue ot thia mortgage: and in the event said M~utgagor ~hali tor any re~son
f~u1 W kesp the aaid premiees eo in~ured, or fail W deliver promptly any of said policiee ot inauaace to i~id
Mortgagse, or fail promptty to psy fully any pnmium therefor, or in any reapect fail to periam, discharge,
e:cute, effect, compkta, comply aith and abide by this covenant, or enr pert hereof, eaid Mo~tgagee may plaoe ared
pay for such insurance or any pert thereot without waiving or afiecting any optioo, 1ie~, equity or right under or by
virtue of thi~ mortgags, sad the fuA amount ot each and every euch psyment ~hall be immediately due and payabk
and ahall bear interest trom the date thereof until paid ~t the rate ot ten per centum peT annum and together w~ith
such interest ~haU be saeured by the lien of thi+ mortgage.
4. To permit, rnmmit or aufter no waate, impairment or det«rioratiow of aaid property or iay part thermt.
S. To pey all and ~ingular the costs, cher~ end e:pen~, including re~eonabk lawyer'a feee and cwt ot
abstrscte ot title, incurred w paid at- any time by ~aid ylortgagee becauee endior in tl~e event of the f~ilure on the
per*. of the said Mortgagor W duly, promptly and fuUy pertorm, diacharge, e:ecute, effect, complete, comply with
end abide by each and every the atipulations. agreements, oonditions and covenent~ of said promissory note, and -
thi~ mortqage, any or either, and esid coats, charges aad e:pensas, each and every, shsU be immediately due and
psyabk, whether or aot there be notice, demand. attempt to coUect or suit pending; and the tull aroount of eech
and every auch p~yment aAsU bear intereet from the date t~ereof until paid al the nte ot ten per centum per
anaum: end all ~aid coats, chargea ~nd e:penx~ ao incurred or paid, wgether with such intereet, shall be aecurrd by
the lien of this mo'tgage.
6. That tsl in the event of aay M~e~ch oi thi~ mortgage or def~ult on the put of the Matgig~or, or Ib? in tM
• event any of said sums of money herein referred w be not promptlY and tully paid w~ithia tsn days ne:l att~ the
same eeverally beoome due and payable, without demand or notiee, or Icl in the eveni each ~nd every the stip~tioa~,
~greeineats. coaditione and rnveaants oi said promiasory note and this awrtgage?, any or either. are not duly.
promptly and fuUy per[ormed, dix6uged, e=ecuted, effected, compieted, complied ~vith and abided by, t6en, in either
o' aay euch event, the ~aid aggregate sum meationed in said prortiisao~y note thm remaining unpaid, writh interest
~ccrued, and all moneys xcured hereby, shall become due and paysbk to~chwith. or thereaher, at the option of aaid
Mortgagee, sa tully and rnmpktely ~s if all of the said eume ot nomey were o~ginally atipulated to be p~id on
such dsy, snything in said promi~sory note, and or in tlue awrtgage to the contrary notwrithstanding: and
thereupon or theresfter at the optan of ~aid Mortg~gee, withoat notice or damand. suit ~t la.v or in equity,
theretofore, or thereafter beg~n, may be prosecuted ae if all money~ 9ecured hereby had matured prior to it~
inatiwtion.
7_ That in the event that at the beginning of or at aay time pending eny suil upon thia mortgage, or to foreclo~e
it, or to reform it, and/or to enfom psyment of any claime hereunder, aaid Mortgagee ehell appty to the conrt
haviag juriedictioo thereof for the sppointment ot a Receiver, euch court ~hall forthwith appoint e Re~xiver ot eaid
mortgaged property sll aad aingular, including all and sinqular the rents iixome profite, iseues and reveauea from -
; whatever source derived, each and every of which, it beinq ezpreaely underscrx?d is hereby mortRaged ae if
I specifically set forth and described in the ~trantinq and habendum cleusee h~reof, and such Receiver ~hall have
~ all the broed and effective functione and powers in anywi~e entru~ted by • court to a Recei~~er, and such ~ppointment
~ ahall be msde by euch court ae en ecimitted equity and e matter of ab~olute : iQ!.; to said MortRagee, end without
~ reference to the adequscy or insdequecy of the ~~alue o! the property mortRaRcd or to the eolvency or ineolvency
of 'aid Mortgagc?r andlor ot the defendanta, and that such rents, proBta, inoome, issues md revenuee ehall be applied
! by such Receiver acoording to the lein ~ndlor equity of said Mortgagee aed the practice ot auch aourt.
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~ 8. It ie understood and agreed that thia mortgage is given w secure, in eddition to the note ~ oblig~tion
above deecribed any additional bens or futare advsnces made within t~venty years [rom date hereof by tbe mortgagee
to ~aid mortgagors or any aucceaeor iu titk of ~eid mortgagore of the property haeby coaveyed: provided tlut the
total unpaid balance of the indebtednea~ sacured hereby a: any one time aliell not e:ceed the mazimum principel
amount ot ~Wr~
li 1, plus intere~t the?eon and any diebureementa made bp the mortgegee for the payment of ca=ee, leviea or insuru~ce
on the property encumbered hereby. ~rith intereat on auch disburxment~.
IN WITI~JESS WHF.REOF, the said Mortgegor hae e:ecuted thie mortqage under seal on the dey end yenr herein
first above written.
Signed, seeled and delivered in the prexnce of: / _
6
.
ISEAL?
~ a . a
~ ISEALI
~ Ward S. Campbell-Chai n of the Board-
~ srw~ oF ~1~41~Y~fX Mici~igan Ward S. Campbel l, Inc.
~ COUNTY OF 9~(~.~j(~ Kent
~ Before me pereonally appeared ward S. Cdllip~~ ~
~ • . ~
~ - i _ ; ~
~ . ,
~ to me wroU Icnow~n and imown to me W be the individua)... deeaibed in ~nd who ~ecuted the foreguing ~ f.~
~ . ':3•.
and acknowledged beforo me that ....he.... e:ecuted the s~me for the purposee tberein ezpraaeed. : a~~
y:
June ~~y8` • ~
wlTrrESS my hand .nd otfiaid ~e.l chie 27th ~
y ot l
g ,
• - - z.c~ ~7~.«~r~~ .~vti- s
~ ~.i1i :~~i:
Nota b ic in and for KOta ~¢ts ~
, _ ~t~^'
~ the Couaty and State AforeNid. O~t~D$ iII'
~ ~,~f1430 ~~t..~:-
~ My oommi~sioo e:piresYO/17/79 ,
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