HomeMy WebLinkAbout1911 prior to entry of a judgment enforcing this Mortgage if: la) Borrower pays l.cndcr allsums which would be then due under
the Mortgage, the Note and notes securing Future Advances, if any, had no acceleration occurred; Ib) Borrower cures
all breaches of any other covenants or agreements of Borrower contained in this Mortgage; (c) Borrower pays all reasonable
expenses incurred by Lender in enforcing the covenants and agrcements of Borrower contained in this Mortgage and in
enforcing Lender's remedies as provided in paragraph 18 hereof, including, but not limited to, reasonable attorney's tees; and
(d) Borrower takes such action as Lender may reasonably reyuirc to assure that the lien of this Mortgage. Lender's interest
in the Property and Borrower's obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upon such
payment and cure by Borrower. this I`longage and the obligations secured hereby shall remain in full force and effect as if
no acceleration had occurred.
20. Assigameot of Rents; Appoiattneat of Receiver. As additional security hereunder, Borrower hereby assigns to
Lender the rents of the Property, provided that Borrower shall, prior to acceleration under paragraph 18 hereof or abandon-
ment of the Property, have the right to collect and retain such rents as they become due and payable.
Upon acceleration under paragraph 18 hereof or abandonment of the Properly, Lender shall be entitled to have a
receiver appointed by a coup to enter upon, take possession of and manage the Property and to collect the rents of the
Plpperty, including those past due. All rents collected by the receiver shall be applied first to payment of the costs of
m'enagement of the- Property and collection of rents, including, but not limited to, receiver's tea, premiums on receiver's
bonds and reasonable attorney's fees. and then to the sums secured by this Mortgage. The receiver shall be liable to account
only for those rcnu actually received. "
21. Future Advances. Upon request by Borrower, Lender, at Lender's option within twenty years from the date of this
Mortgage, may make Future Advapca to Borrower. Such Future Advances, with interest thereon, shall be secured by this
Mortgage when evidenced by promissory notes stating that said notes are secured hereby. At no time shall the principal
amount of the indebtedness secured by this Mortgage, not including sums ad c n ,~~cordance herewith to protect the
security of this Mortgage, exceed the original amount of the Note plus USS W - • •
22. RekrLSe. Upon payment of all sums secured by this Mortgage, Lender shall release this Mortgage without charge
to Borrower. Borrower shall pay all costs of recordation, if any.
Q 23. Attorney's Fees. As used in this Mortgage and in the Note. "attorney's fees" shall include attorney's fees, if any.
which may be awarded by an appellate coup.
W 0 IN WITNESS WHEREOF, Borrower has executed this Mortgage.
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~ O Signed, sealed and delivered
z in the presence
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O A. Baird -aarowe.
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Viiry~ ~ -eo.row..
w MIQiIGAN,
STATE OF Marc
. ...................~$l~ ...............County ss:
I hereby certify that on this day, before mc, an officer dui authorized in the state aforesaid and in the county
aforesaid to take acknowledgements, personally appeared.. . A.. BAIRD, a1'1d VIIiGIN7A M. ,BAIIZD,,, , ;
.t!'~~e to me known to be the person(s) described in and who executed the
foregoing instrument and acknowledged before me that ....~'!~Y...... executed the same for the purpose therein
expressed.
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WITNESS ~r~py~~h~art and ofitcial seal in the county and state aforesaid this ~~~.:T~......... day of
'i /~'~/S.Yd 19 8U . .
~ My Cgtntnission exptres: ? / 0 -~S ~
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~ F~UI. ~ B r ~ LOelDA LAW ~u'~'+
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