HomeMy WebLinkAbout0308 i~
prior to entry of s judgment enforcing thk Mortpge if: (s) Borrower pays Lender all sums which would be then due under
this MortPBe, fire Note and notes securing Future Advances, if any, had no acceleration occurred; Ib) Borrower cura
all breaches of any other covenants a agreements of Borrovror contained in this Mortpge: (c) Borrower pays all na:onable
_ expenses incurred by Lender in eaforcing the eovenar)ts and agroemeats of Borrower contained in this Mortgage sad in
enforcing Lender's remedies as provided in paragraph 18 hereof, including, but not limited to, reasonable attorney's fees; and
(d) Borrower tskp such action as Lender may reasonably requiro to assure that the lien of this Mottpge, Lender's interest
in the Property and Horrower9 obliption to pay the sums secured by thu Mortpge shall continue unimpalted. Upon such
payment and cure by Borrower. the Mortgage and the obliptioas secured hereby shall remain in fup tome and et[ect as if
no aooekration had occurred.
2t. Asslproeot of ResMq A~Watasest of Receiver. As additional security hereunder. Borrowsr hereby assigns to
Lender the rents of the Property. provided that Borrower :hall. prior to aoxkration under paragraph 18 hereof or abandar
meat of the Property, have the right to collect and retain such rents as they become due and payable.
Upon acceleration under paragraph 18 hereof of abandonment of the Property. Lender shall be entitled to have a
receiver appointed by a court to enter upon, take possession of and manage the Property -and to collect the rents of the
Property, including those past due. All rents collected by the receiver shall be applied first to payment of the costs of
management of the Property and collection of rents, including. but not limited to, reoaver's foes. premiums on receiver's
bonds and reasonsbk attorney's fees. and then to the sums sxured by this Mortpge. The receiver shall be Gable to account
ogly for those rents actually received.
21. Frlttrre Aivaoce~a. Upon request by Borrower. Lender, at Lender's option within twenty years from the date of this
Mortpge. may make Future Advances to Borrower. Stich 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 indeMedness secured by this Mortpge, not including sums advanood in aooordaaoe herewith to,protect the
security of this Mortpge, exceed the original amount of the Note plus USS.... • .
22. Reikase. Upon payment of all sums secured by this Mortgage, lender shall ukase this Mortpge without charge
to Borrower. Borrower shall pay all costs of recordation, if any.
23. Atoor.ey's Fen. Aa used in this Mortgage and in the Note. "attorney's foes" shall include attorney's fees, if any,
which may be awarded by an appellate court.
IN WITNESS WHEREOF, Borrower has executed this Mortgage. '
Signed, sealed and aeuverod
in the vresencx of:
? .seal
_ ~ O.E. Kai • -e°"'°"'r
i
. ~ ~ . ~ .Q.~ .......(Seal)
~ Geraldine A: ght
STATE OF ~8~7IN~A . t . ..1f~YW/?7
I hereby certify that on this day, before me, an officer du1G~i~ ddthorized in the state aforesaid and in the county
aforesaid to take acknowledgements, personally appeared..O.E.. Knight and .Geraldine.A.: Knigght,... .
.his .Wife to me known to be the person(s) described in and who executed the
foregoing instrument and acknowledged before me that tx>~Y....... executed the same for the purpose therein
expressed.
WITNESS my hand and official seal in the county and state aforesaid this...........27 ,
~ MAY ,19.80.... _
i
My Commission expires . `
- , ,81 t~ .
l ~[8M11 ` Notary Public yL~
(Spate Below This Line Reserved For Lender end Reoonfeq
-
/41f'~~/aVJ .:?i~. r...t. ....1 i~J'd~ ri
l1~ ~ ~
. ~ _ T~
I