HomeMy WebLinkAbout0842 ~'7. If owy of eke was of rwottty Aere+n rehrred b M not prowptly and fully paid wiMiw fifteew (1S) days neat ofhr Hs colas Mwrolly becows des
owd poyobM, w if cod and awry tM stipubtans, ogrtewesnts, conditiows and cownonb of said prowissory nob and Mis wartgoge, w either, ere wN duly
psrfwwed, twraplwd wiH owd abided by, tM oggrpoh sues rnentawsd iw aid prowiuwy ttoh shall becorwe des and poyobb foAhwiM w MereofNr of
IAe option d the MortOogee, os fully and cotnpbhly of if sold oggrega/e ww of twowey was wiginolly atipubted b M paid on such day. onyMing iw
sold prowiMOtY note w Main b tM contrary wotwiMsbndirr0.
0. To del'ivw b sold Mortgagee, on w before March 13M of socA year, b= receipts evidencing the poymewt of all bwfully iwpwsd loess fat 1M
pretseding tobndar year, fo deUver b sold Mwtgogee, ?sceipb -evidencing Me poywent of all liens /w public iwprowttrenN wiMiw ninety (90) days ofbr
1M sowte shall becowre des and payable and b pay w discharge wiMin piney (f'0) dogs ofhr des do», any ord aM gowrntwewto) Iwiss Mat way M
wade ow He twortgoged progeny, on Ma rllertgage w note, or in any oMer way rewhing Prow 11N Mongoge indebadaea secured by Mis tworlgo0e; and
if Mis conditiow M not cowplied wiM and perhrwed, sold wartgogee way P oy wch ww w was wAicA shall become paA of Me debt seared by Mis
tttortgege, and sAoU bear interest of Me Bowe roh m tAe ewortgoge note, poyobb sewironrwatly until paid or said MwepoOse way ebN Mat sold ~wat-
goge debt Merwpon baeoww des and payobM hrtitwiM.
9. It b /urMer cownonhd and- agreed by sold parties Mot iw tAe went of o wit Minn instituted b foncba Mis twortpoge, tAs Mortgagee shots
M entitled b opp!y of any tisre pending such (orecbsure suit b Me court Raring jurisdiction Hereof fes tAe ~ppoinMeent of a raaiwr of all and singubr
the wortgoged propery, and of all the renA, incomes, profib, iswes and revenues Hereof, From whotswver source derived; and Marsupon it b hereby
eapreuly cownonted and ograeu shot tM coon sAoll fonhwiM appoint o receiver o} sold twortgoged property, all and dngubr, ord of such rants, iw•
cuwss, profib, issws and revenue Hereof, frow wAatsoever source derived, with tAe veal powers and duties of rsceiwrs iw like cosec; and sucA ap•
pe?intwent shall M mode by such court os o wwthr of strict right to the Mortgagee, fits successors, legal representatives w ossigtss, and witAow rehnwq
b Hs adequacy w inodequocy of tAe roles of Me proFerfy Mraby mortgaged, w b tM sohretecy or insolvency of Me Mongogor, and IAet sucA nest,
profits, income, tows and revenues shall M applied by sueA nectar b the paywrnl of tM twrgoge indsbtsdwea, cosh and Borges, occordiwg b
tM order of sucA court.
10. Upon any default under the wwrtgoge noh or the mortgage, at tM option of IM holder of tM tworlgoge rtoh IAe unpaid babnp of >M
mortgage noh and any advances .v~ode under it, a th? wtorgoge, togetAer wits inhnst, shall becotwe due and poyobb, lilac Miwg of He eswnos of
this contrott. Any woiwr of any payment under Me noh w wortgoge of any ileac shall woe, of any oMer, lime, be bkew b M a woiwr of tM brat of
th• noh w worfgoge, and Me occepbnce of poywents upon sold indebtedness shall not cautiluh a waiver of Ms opfiow of tM holder of tM noh b
oaelerah repoywenf of Me entire unpaid Mbnce, unless tAs holder eapreuly graph such woiwr in writing.
11. If all or any part of the property or on interest Menin is sold or fronsferred by mortgagor wiMarf rwongogee's prior wriMew consent eaelud-
ing (o) Me creation of o lien or enc?rebronce subordinoh to His mortgage, (b) o tronshr by devise, dexsnt, or by eperotion of low upon tM Boots of
o pint tenant, or, (c) Me gran! of any bauhoW inhnst of Mree (3) goon or bu not eontoining an option b purtdtoss, a (d) the creation of o pu?-
chose woney security interest for housahoW appliances, nrortgogee may of w+ortgagee's option, decors all sows second by Mis rtrortgogs b M itwttted'rahly
des and payable. Morpogee shall port waived such option b oaebrah only if, prior b He sob or transfer, worlgogq and He person b wMw IM
preperry is b M sold or tramterred reach ognewrnt in writing Mot such person is a gwlified borrower b Hs sotisfoction of wotgogee •aeaissd
in its sole dixntion and that cny modifications of Mans of the mortgage loon os are required by me?rtgogee in its sole and abaobh d'acretion which
modifications may include without limihtion Me roh of interest payable on tM sums secured by tM mortgage to o roh as requested by worpogee
how Men agreed upon.
!f twortgogq eaerci:es such option b orcelerah, mortgagee shall wail nangogw notice of occeh:ration by depositing aid oMer in ehe United
States Moil, postage prepaid, to He folbwing oddreu:
Such notice shall provide o t.eriod of not ktu Man Hirty (30) days iron the doh 1M notice is rseoihd, within which mortgagor way goy tM ww de-
clared due. If mortgagor foils b goy such was prior b the eapirotion of suds period, tAe bon shall M in defouh and wangogee way, without funMr
notice w Bewared on mortgagor, invoke any remedies os provided for herein upon He care! of default.
Any woiwr of any payment ender He note or mortgage of any time shall not, at any otMr time, M bken b M a woiwr of tM brews of tM
pots or mortgage, and Me ocreptonce of poymerrts upon sold indebtedneu shall not censfihrte o woiwr of He option of the mortgagee b oasleroh
Me indebtedneu os provided for herein.
12. If • conveyance should M made by the rtrortgagor of the premiaes herein dssuibed, a any pat titereo/, and should the gretsNe or any subse-
quent grantee under s~.d conveyance. wta Ms assumed the neortgage and indebtedness. bt in def~trh by vrrttte of • breach of any of the provisions
of this mortgage or the pov.s.ons,ot any assumption agreement with the mortgagee, whether a nW said aaumpfion agreetttsM retodfies the letter of
the mortgsge and rrrdebtedrress. then and therefore. the nrortgegor hereby consents to asstwrrption and flee prov'riorr of any asstwnption agreettteM with
the mortgagee, and to any ngd.f.cations of the terms es povisiom of the rrrortgaga and irtdebtsdrtess occasioned by said aatrnption agneateM and does
father hereby grant the mortgagee the right to grant eatemions of tame to said granhe without notification of, without the consent of, and witlros?t affect-
ing the liab.hry of the es:gnal mortgages, or any subsequent rnortgtrgor.
12. When any amount of mortes to be paid by the mortgages b the rrwrtgagee under llrt terms hereof shah be in Betook, or should the mortgagor
dehulr in cny of the ether firms, pavsions o. conditions of this mortgage, then in that case the mortgages shell haw the right, without rtatice b the
mesgagor, b cdlect and .eceive Iron. any ttnan? or lessee of said mortgaged poetises the renh, issues and profits of the real estaN hereby mortgaged
and the improvement thereon, and to give proper receipts and acquittances tleeretor, after paying all comntissiotr of arty rental agent collectirg the same,
end any reasonable attesneyi lees and other necessary sapensts incw.ed in coNscYatg same, b apply the Proceeds d such collection upon any indebled~
Hess. obligation or liabl.ey, of tRe'rreortgtgor hereunder- The .fight granted the mortgages render this paagrapli shall be in ad~tion to, and shah seal limit
or restrict, spy other right es rights greeted the mortgagee in this mortgage.
4 la. That n the even) the premises hereby mortgaged, es any part thereof, sMll M corsdenrred and taken for public use tretdsr the power of eminent
domeirt, tM Morpagee shall Rave the .fight b demand that ell damages awarded fes the taking of es damages b said premises shall be paid b the
ltbrtgsgse up b the amount tMn upped on this nwrtgage and et ells option of flee Mortgagees may M appiied upon the paynrnh last peyabM Neareors.
f 13. itrs mortgagor binds himself not b erect w permit b M erected arty new buildings on the premises herein mwgapsd or b odd b a
Pal
b M added b any of rtes aaistieeg improvemenn thereon w make arty ehaeeges w alssretions in said improvem«+r vvhicA ereeterially drarege the saetr w the
i use tlseeeol, wrrhour the wruhn consent of tM Mortgages, and in the event of serer violation w ansetrpt b vidah this stipulation Mis rttorlgege end all
{ corns essursd hereby shall rmrnediafely become des and collectible at tfte option of Nts AAwtgaoee.
i
lM It is specifically agreed tMt tutee is of the essence of this contract and that ne woiwr o/ any obligation Irreatdar a of dte obligNiort astarred
hereby sMll et_ any tins M IeeW b M e woiwr of the terms Iteeeof « of tM irrtrertttsnt sand hereby.
17. If fesecbwrs proceedings of arty second nrortgpe w aeeeand trust deed w artp jerniw Here of any kind shwld be knstituhd, the Mwlpapee prey,
j at its option, inurwdrarely es rReresfter declare His nwrtpape and 1M indebtedness seared herby des end payabb forthwith, and may of fib option praoesd
F b /oredoes Mis neatgege.
~ 10- Te tM -.tent of tM indebtedness of tM Mortgagor b the Mwtgege• desuibed leereiw w sand hereby tfr AAatgagee fie hereby Mrbrogahd b
1 tM lien or liens and b the rights oI the oaten arrd holden 1lrereo/ of eacA and every nwr/gage liars w otlwr irtcsrrrtbrertos on des land dsscrilted basin
vrhich i• paid and/es satisfied in whole pin pan out of Nee proceeds of He ban dewibed herein or secured hereby, and 111e respective Berta dt said
wtergpes, Barr a other incumbnsrtces shall be and ties cams end each of Mem hereby is preserved and 1 pea b attd bs held by else Albrlgepes herein
w aaariry fes the indebtedness b the Mortgagee Mrein described w herby secwed, b the Banes saten~thar it would Raw been preserved Bred weerld
: hew Mrs posed b and been heW by the Mortgpes had it beers dug and .egularly aligned, transtwnd, set over and dsUvend web tM Mortgages by
~ aspMaN deed et usprvntnt noewiMsund.rq flee fact tMt tM same may be Ntisfid and cancelled of record, N being Ilr intsrstion of foe peAiss hereto
1 tAa tl+s .eras will M saristid and cancelled of record by the holders lAsnOf N w about Mrs rims of Ill! tsoordierg of this wterlgs0e.
s 1!. To pay all acrd singular tree costs, eTtarges sad ettpsnass, wtewdietg lewysr's lees, reasonably inewnd a paid d cny /irsee by the MsAgpM,
e bscww o1 the failure of the Mortgagor to perfcrm, ct>mPhr with and abide by each and awry tl+s stipuletions, egreerrrsma, oortditiar, and covertenss of teid
premiwory esots and this deed. or either, aed awry such psymsMS shall bear interest frpw date at flee sarrrs reb as flee ngrtgage rqb.
E IN WITNESS WMEREOf, tM said Mortgagor heeewtb sets fits hared end seal this the day and year fYat above trrllMt~
t
Sgn.d, scold, old delMrsd .(SERI)
M th. prsseern d: JEAN N . ~PTER
MILDRED A. RITTER
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