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HomeMy WebLinkAbout1617 1 Thrs mOrtflape K pers+Unal t0 the Mortgagor herein a'n7 -ro . un+re;raniet tReari, Ste ".ar'It try Vryr~r a~ tie piem+ses hervrn dieecnbed or anY i•art tr+rreof without fast obtaining rite prrp written consent o/ trig M:+rtgapet 1-. trtc r.re,rn'Nlttrt¢1tyKrt y-twtres rlr+s ~+r.cter+ ~i:neert the cjrantae named :n such ::.trr ~rarrce shah sswme and agrsir to Wy the oblipatron evrdenped !w the taomese:i-+ r.ttft tiu::.r+eav aer.egw .t?yy ~an~aeyarece ut ilea DruRer:11 herws descnbed ttr err part ttreteof rn valatron d tfse terms d this paragraph shall errtrtb fllortp.Npere to aroelataoc erne osta~tetene mN ilia cir rytyowe securva hereby and all sums of money severed hereby tifraN. at tM option d Mongagete become due artd ysyat,le ame .w+ :aubtere rMnesl~r a+' tort the lams ors s!e aus and payable and m default by the specdre terms hared Nothing herein cornarrree sdtaf+ ne eorosraa+el w csrrrsaa.ne a Rrtwaomre: ea ceiausia Mhrq~agttr ar arty subsaquerst owner of i:ab+l+ty a oblrgatron under the promrttstory torte tieCUred hsroby ar tints; mo-sgaye ~ veistra~ si* titre aiGr~ aae.nepnorr mf! tree obriyatsan under the note secured hereby. by a subseQusrn owyrrst d the property dsttreribed tesuem S That m the event d a Burt being irestrtutsd to foreclose trill tncrrtgayr:. ate Mmryptytet seail~ sir errnaes t1s apply ac any ems dunng such htrecloaure u,rt :o the coup fravrrrg turrsdretron thereof for the ap,7prrAnterR Di a rsoener t1! al. artrQl $r-e~jpltart tttlte DrugrLy anti ai all rentl.:ncomes. profits. sues end revenues thereof. iron whatsoever stouroe derrrwd. arw tteennupon n es arp,rrsntir ~mresrgrr,yrsoeal arnb agreed tt~t area _aut shall forthw,th ap- txant wch receiver with the usual powers and duties of reoe+uets m Irhe castes. amd sadl algpe?eII7refRR stsWl: eSe m~ ~1t the ~tur't as a matter of stnct nghr M :ne Mortgagee. and without reference to tM sdeQuacy or rnatteawcr of Zere w?,rt •;y1 t!re ~er'as~t? .~ror~yaq~ ar to the solvency, or insolvency of the Mortgagor o< any other party dsfendarn to such sort The 1411atgagor tser!!by t~+eclfrcatll; .tat•MS me rttj~rr tr>b ehfttt-t: ffi rite appantrnMr of a rwce+ver as aforesad and hereby eiipressly conserns that such appOrrrtment sriaU tee made :s an sehn¢tr+91 ea.tff+ arm as.i mdralr of aps6ll:t! r.~t tU t31e Uortgaywe and ;net the same rtray be done without not+Ce to the Mortgagor 6 That d any proceed+ngs should be e?estrtute><1 against rite Droperrr ao•terred ~ ?has aerlgay~ ,pan• 31ry amen orate or uam rhether superrtN or tumor !r • the Iran of this mortgage. the Mortgagee may eZ its csptton tmmadurtet;' arpcur r?emn•atcm ari •yuc.`r s+utt +ee dwnr.y tint t~,endrrrtg orereof :teciare m+a mcrtyage .rrrd the tncfebtedrretss secure! hereby due and payable forthwrrth and may at its. ~rttcrr, ee >tae tuts rte®rttyiyr 7 To pay ail and singular the costs. fees charges and ey~e?estes ut o•+erty ~cnw..t.wl.+tlr*y~ titre ilLa7t ~ 3r.: ai~u-a~.-c of ntle to lard !ands fow?d ru 5e can- er~.ent or eetpedrent to connection with any sort for the toreclosu+e d the m~o^sgaye. as~rd allstty ,rrtowrmrr~ ~~lrrtrtrer rite Msr~gse +s obligated to pay same or ~t reasonable attorney"s fees incurred or eicperrded aR any time by the fillc+rtgagtre 9Ht:a:es+t tf'rrt iali.re uF 7re ' hl Desrfrxm, corr+ply with and amde all or any d the covenants condrtrons and s'tipulatroM t7f s:artl promes9grY nclte r6+r ones ~ m~ dac kirttClBi6t•r~t of iMs mortyags and ~n ca?ectiny the .+~~i~unt secured hereby with Or without legal prot,eedrrrgs and to rartrdeyrese the Ylp!>~yagnt rear eery p,errs+anc mudltt• isr ~nct.rned tttr any swan purpose rith rn- ':•rc`s! from date of every wch payment at the highest rate sut!rortted by 1st sucr~,;.ar~tn^es• axctl ~9ttgpncr+a •a+ds-+ntaresr thereon .;s af~ar+KSaid, sna11 be .r.-u•ed by rite lien hared 8 To keep the burldrng or burldrngs now or .trereafter on laic land insuaatl aylarn~t irate •tir Qe,net~t eat 6r~ yytnerttled ,:average and other gents. rn- !udrng war nsk insurance rf ave~tabb. m a sum noR tees then then full iresitrrab~ •tralue ari The arrd rstr cir tttt !1far~or rn a company or companies :~oproved by the Mortgagee. the policy Or pOlrcres to be held by the Vlbrigagee ariRlBtrtrRr.a~tia`y ¢rr ydl~tasalf ~wsurartceshall b:3r+e affi>,ed mereQO a Standard New York Mortgagee Clause. making all loss a losaes under such pohCy or p~GltCtes s?alratilr tt;,'~ ~ a6+L4 erts>~ m~j appear and :o deliver said c.:,:r~r or poliCres to the Mortgagee when ensued with the renegm for the;>eMrrrenri till [!re ~nrlrrrtrrrrr, ±!ierelt+trt. and! +rs ti!e vversc any sum cf money oecomes able under such policy or poUctes. the Mortgagee snail have the opirOn ta.»erare arrd a¢pw Tie 3arrree ~ aiocrwna of item indeGaadr+esa secured Hereby or to „r•rm,t the Mortgagor to receive and use R. a any part thereof. fen tither aurposies. rarcru,•n tst ratrunyl6ir. +mparnr*g anye equity Deere ar nghr under or oy •tue of this mortgage. and the Mortgagee tf rt Deems rreeesser? may ptaoe and tart s.uts'+ rrsuRarrtue ~r 3rrr? Derv ttrereal! rrthout +os+ng, vyaiv+ng ar aNec- • a Mortgagee s option to foreclose for breach d then covenant. pr an; part =tte~edf yin •ary rtgf.a w;ancrr srsClN' tins mr and every such payment snail :~rar ,ntereSt from date thereof until paK! M the highest rate a.rtho?a!ad by iar. an: alt swue ~arrrw*~ rim. rr-ffire:sII as aid sha11 be secured try rise !+en ~>•eof In the event any Toss or damage es suffered Mortgagor shat! rrUtefy f111origagee sri t+utit+;l4ss ar ,~aetH?~e y~ett'-in f!ar•rll-ergrst t48: howl after tree hapoenmg ^F~eof the failure io gyve wch notice shall constitute a ttefauh ara~ the 111ortga~e shat' ">P•e ~ ~gres r_ stern Qwer, for 311 kits 9 To permet. commit or suffer no waste and to maentam the rrsp*o~-~ 3c alp srtrtes rr, a sttaae air ~e!ad r~rair area canmaen and as do or permrc to ;~e done to sand premeses nothing that wiN otter or change the use acrd ctsera::seir sr';atd ~r?=ipe'ta a+' ir, a"vl ~!i rrtRDiar ar rrtglie~+ me serunr~ at sa+d mortgage ale of the refusal. neglect or inability of the Mortgagor to repan and mairrtaer+ sa¢i ,r t!tr rtrr/, ac :rs :.poor., mace s:•c.'s +epa+rs or cause ~e same to be made and advance monies to that Gehatf which sums shall ire trleCar~D ~y ~ i®-: ~erar:i! areL eaeia ;rte ac Se higttesi rate aumanZed by dN i 0 To deliver the abstract or abstracts of true covanng the mo-tgagec ps~~ z._• ORrrrt RC ~:~~aoz+s agent. •tricre sr+a11 ar ail ~me5 dunng • ~fe of th+s mortgage remain m the possess+on of the Mortgagtae and m ~..e-r, t*te ~vR~,r~e "~r• eis ~ or or~er r'ansfrer of hQe all ~grr nr!e and - -rest of the Mortgagor m and to any such abstract or abstracts d tale shah pass tc ~-per ~r ~na>yt t 1 That no waiver of any covenant harem or m the obirg8ttor set:•r:~ed "iessID~ sit: aic a-~,? ~rx-r; `erststfrar ®r reirS to br a rawer ai any of the Diner .••^s hereof or of the note secured hereby. or future ,srarvm D1 rite same co+rer,anc t 2 That m order to accelerate the maturity of tt?e ,noebtedrreta tam" s+e:..r!eCi trex":.a,~ ~ ~ ~i1:r+t of a'H• tOCrtt~r ua pay any *.arr assess,:,err. e!,.„.~. obi+gat+on or encumbrance upon said prttpe~ty as harem prpvrpa(i r s+iaf: *ttJt Le Tte~rr~ ?Cr ~+,-l:es+t~ tra3c :ter YGrtgay~ee sisari first pay me same j ' 3 That if the Mortgagor shat! fait. negk+ct or refuse for a perwC Lrf trrrrT;" X30: D~a.rs'1~ety arm w-r°,rsRGyt as yty itse amrtJets rergured to be pond ev me •e Hereby secured o: the interest therein specified or any ~ ttw wts~ ~ r. Loney *+e~m sc, mr ~erec+yr secz,rsd ~ oet*tsrw+sr dsJy fW ty ~ ~ aicncry to ~ ::~~iorm erteGUte. comply wM and abide by each. every of any df the t~•rer+arr*s tIDrtdegas •s' saf~t.raemrrs ~ :?ts nraro~ ttse ~woiniss:.ry note Hereby yep tired and"or Lhe construction loan agreement rf any then. anti m srt*te tar m an? tyf su~i•: ~.syres artt~ttC r+oa©t ®r derreard the sad aggregate sum men- ! ~^ed m said promissory note. less previous paymerm. rf any. and any and alp twins s~tarcrID+reedl xervsr ar st5oaret@ rten3Cy shall itecome due and payable -•~nwrth or thereafter at the cAntmuing pptton of the YlpRgagee as fairy antl t~trr>FiiE[~4i a6 ,A sail a x,rres r6r~ or:gtnaJly sapufatEd :C be pond at ! s.,: n trine. anything rn seed p~omessory note or harem to the contrary ntatwrrthT.iandr-tg aria :"7e \Tr~et Yaat tss ersntled mereespon pr asereafter r+thour ~ -o~ ~e or demand to institute wit at law ar: :n equity to errFbrce the *rgrrts t7s'fte fge3e ~ ..r-derv Sad Grrmts~wri Wore tr. me evet*r of any 7zfau't or breach On the part of the Mortgsgtx hereunDer Dr urger said ~arDrrrr>ri[ti'y aisDe. ]tie Marr~ee stab isaae hart cGrsanwng apaon to ttrr*fiorze payment E a~~ sums secured hereby by action at few or by wit m eq.rRy m fo*eirose that tea'-er ar : ~crcvr*~cyi ar arnarvrse. ane xee acnon or wit t ~^a -got abate or be a bar to or warvsr of the Mortgagee"s rig*rt tt; rnsrt,.ze Dr rnar-*arr.:rie •~G'terr -r*aa,rDaeC saiQ YcrgageE slrail nave only ore rayr-,ent and ~ ~a~ sfactron of sa+d +ndebtedrtess 14 That in the event that Mortgagor shall i t t CbreSeni 7D the apG?orrrtrrrsrG a ,$anewsr aa' ,eG,t.r~b3c cf ail cr a si.tz~rst;ai Dar* Gf liAorgaoar s assets or 121 be adfudeeated a ba*rkrupt pr insohrerrt. tar frie a wturrtary pe<itttt7m m basik'r.:Ca^• sr atastr• ,n. rrttrg.rs: ~r*arury ~ pay ,ts debts ag they necame .e or r31 make a general assegnmern for the benefit d creditors. ar '4i file a pCtdt~ nor arrg~ seawr-g aaaGCrs or arrargeirent rids creds~rs. or to •a+ce advantage of any rrs5o!:'ency law. or 15t fife an arsswresr admrttirtg rite mtaffirat atteigatmcts sl! a peeacr* tiled agiar;>~ IItre~ Adorr~•r :n any bang.-,,prey. •eorganetat+on or insolvency proceeding. or 161 action shat! ne take*~ by t?ie 1f1orT,yagon rlyrr tree 71! et'fE+t;t:rr ar=.yl of tie roragdrrg or t 73 any cider. tudg- ? -•~er't or decree shall be entered upon an applrcatron of a credttpr tar llllortgag~r by a D~trR St1 a~trr~sa J,r'tsClcn~ atsprnwng a Grnacn seetung appc+rrment y` a receiver a trustee of all or a substantial part of ttse llltortgagor"s ash 3rnd such •antigr ~etg;'terre:~rr ~c,-~ s'seil rar-anur ur.s~yea and n effect fur a^t - ~r~od of thirty 130) consecutive days. the Mortgagee may decla:a the :et7ele y sa$ruattl acr7treet; : ayie: arrt~ die. aherrsup4n ale pr.nrpal of and rte rn- =•est accrued on the note and all other wires hereby stecured Shat bet~me ion'i?rardt+ *J,ie amp p~¢11e a6 ~t; at cf tier ~d sorts of •nGney orate er:ginatly *.:;uiated to tie paid Ors wch day. and thereupon the tllorigagee wrtnoitt rrDtine rx . •rr,at- yrtae a; s:tr ~ Sava arc or m egwcr 3s ,f a+l ?tonnes _ ;•ed hereby had matured error to its rnstrtutton ~ r 15 That the Mortgagee or any perrson authorized by the Mortgagee she!! fiats m'te 'ry7rC ]iID er't~r• ~pcr. ar-C ~rspec.-r a-e mortr,,aged Frer*,+ses at all ab+e t+mes X ' 6 That any win or wins which may be loaned ar advano~ b; the tificrrigitgpe r. tr tihar az arv ~mr a,rsir- raenty ;ZOr years from hse date - ` ?^.~s +rrdenture. together wrtf: ernerest thereon st the -ate agreed upon at the trrriE tit s:ia?+.rcaar-•, ~r a;daatlx S.'".~dtl t~ epaaily secs•rea r+m and `save me same ~•~!y as the original indebtedness and be subiect to al! the tears and prva+rsttrg v! ;rss nizrrsgi+ge ~,r.ar+.,,,. mac `sr ay-aae amount at principal autsian- . ~ ~ at any time shall not exceed IS-~IJA o- rf the uecedmg barnl~ es ~x t.•crrrip ter- 3r• arsTU:rec s+a.a+ ~ crnr in.ndreC ar-d alto Der cent ' of the pnncrpal amount originally secured hereby shalt appr; s t 7 That. rf required by Mortgagee. the card Mortgagor will pa; unto sire fillcrrtgsrg~ zun 3rd !Fist :3t eata' arse averq cansecuave moan a sum 2 .a~ to erne-twelfth of the annual amount necessary to pay al! taxes and FmerCS a~rre~ Sire sad ~ yremrstee card rr.Cnmly sum 'o be ee- ry T•ated solely bjr Mortgagee and calculated to be an amount not less than the amnua2 zrf ironies a~e+G agan~ tact rru-ragagea prermses for me previous .ear and rf further required by Mortgagee to pay al! +nsuranoe premiums m manner arm itrrrr• as ~wrlle~ Ferrer fts• t3ee ~ymerst of tawe5 and assessments 18 That rf this mortgage es m connection with ewistructton loan frrtarrc+rrg t'ie^ shes 'trr' .s ss.ettect nc ~ CorssIIr-uctson loan 4greemr:nt "a:ed p between the fthcmyayor arm she ac• 3rrta~:.~er3 auOy mf •wtrit~r" ~s m axe possession at me 'Mortgagee and K ~rSCOrporated harem by ?eierence and made a part rrerecif a"y iagEauc my to ,r:r-r2ier tart 3gr8emeenr snarl cunyLtt.te art event of ?leak under this mortgage , 19 That the Mortgagor will on the request o' the Mortgagee tymrsh a avr:~e*r sta~c-w-r. ;pit ~e~ an=cr.,-c ,:rMrg r rise oci+gabcn rrnch inns "nortca~ye ~.e~ures and therein state wF?ett?er or not Mortgagor claims any defertsies to urtwts t-~e>.+*., 8~~~ ~.~18~~•~itr~ a ~ ~ -