HomeMy WebLinkAbout0514 prior to entry of a judgment enforcing this Mortgage if: la) Borrower pays Lender all sums which would be then due under
this Mortgage, the Note and notes securing Future Advances, if any, had no acceleration occurred; (b) 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 agreements 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 fee's; and.
ld) Burrower takes such action as Lender may reasonably require 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 Mortgage and the obligations secured hereby shall remain in full, force and effect as if
no acceleration had occurred.
20. Assignment of Rents; Appointment 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 payabk.
Upon acceleration under paragraph 18 hereof or 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
Pq~perty, including those past due. All rents collected by the receiver shalt be applied first to payment of the costs of
management of the Property and collection of rents; including, but not limited to. ieceiver's fees, premiums on receiver's
.bonds and reasonable attorney's foes, and then to the sums secured by this Mortgage. 7?te receiver shall be liable to account `
only for those rents actually received.
21. Future Advatces. Upon request by Borrower, lender, at Lcndcr's option within twenty years from the date of this
Mortgage, may make Future Advances to Sorrower. 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 advanced in accordance herewith to protect the
security of this Mortgage, exceed the original amount of the Note plus USS. ~~..Z~•.QQ
22. Release. 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.
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 court.
IN WITNESS WHEREOF, Borrower has executed this Mort ge.
Signed, sealed and delivered
in nee < < ~ (Seal)
~ ~ ,......v ' ....(Seal)
~ - .l --Mar'orie~ Minneker - -sorrows.
7
..1. : ~4'~°'.".'.~~- (seal)
-Leon Tork son -eorrow.r
MICHIGAN,
STATE OF , p!vt"~,oi?O ~Y. (Seal)
Carol A. Torkelson
I hereby certify that on this day, before me, an officer duly authorized in the state aforesaid and in the county
J1~1!~S C . MII!II!IEKER and YIARJORIB E : R
aforesaid to take acknowledgements, personally appeared •
his, wife , , ; , , , , , , , , , , , , to me known to be the person(s) described in and who executed the
foregoing instrument and acknowledged before me that ~eY...... executed the same for the purpose therein
expressed.
I
i !
WITNESS my han • . nd official seal in the county and state aforesaid this ..........day of
....~T.~!:+f 19.80.
~ My Commission exptres: ~ _
~,r' ~ Nors~?~~ ~
- ~ ~ JAMES A. RaHP,80FN
c. i-
. ]Rotary Public Oakland County, ~'ichig3n s
• ` ~ ~ My Commiss'~on Expires Feb. 11, 1984 i
. - .
i I .
c
f
t
(Spsce netow This line Reserved For lender snd Recorder)
STATE OF MICHIGAN
COUNTY OF ~/O~q~ ~/0 A~ .
r-' The foregoing instrttment was acknowledged before »te this
~.~~day of ~yryL , 1980, by LEON A. TORKELSON and CAROL A. TORI~I.SON, his
wife.
My Caataission expires: / ~ Not Public
'
1 ~Y
`oc~. r ~ _ 7Al1ES A: ROHRBORN
r~`~ - ~ lbtsry Public Oakland County, Michigan
= a1,{~ Yy Commiss'wn Expires Feb.11, 1984
~ ~ . s~ b~~x335 PACE 513
? ~ _ ~ _