HomeMy WebLinkAbout0643 I. 11 ony of the sums of money herein referred ro M not promptly and hilly paid within fifteen I1S) doys near otter He some uverolly become due
and poyubk, « if o«A and every Mt stipubtans, agreements, conditions and covcnonri of said promissory note and Mis mortgage, or •iMer, ore not duly
performed, complied wiM and obidtd by, rho aggregate sum mentioned in sold Promissory note shall become due and poyobk forthwiM or tAereofMr at
Me option of Me Mutgogee, os fully and compkaly os if sold aggregate wm of money was originally atipubted ro be paid ow wch day, anything in
sold promissory note or Asrein to tM contrary notwiMsronding.
To deliver ro said Mortgage., on « Mfore March hSM of each yeor, bs receipts evidencing the payment of all lawfully imposed loxes for M•
proceeding cokndor yeor, to deliver ro so)d .Mortgogoo, receipri oridencinp the payment of all liens for public improwmenri within ninety IftO) days offer
the wme shall blears due and poyabk and ro poy « dixhorge within niney (90) doys oher due dote, ony and oN governmental levies shot may be
mode on the mortgaged property, on Mis rworpoge o? rota, or in ony other way reselling from Me Mo?lgage indebadness secured by Mis mortgage; and
if this condition be not complied w)M and performed, sold mortgagee may poy wcA wm or sums which shall become port of tM debt secured by Mis
mortgage, and shot) bees interest of He some rote os rho nwrpage note, Payable semiwnn,solly until paid or sold Mor/gogN may elect shot sold mart.
gage debt Hereupon become dw and payable fmthwiM.
9. It is further corenanted and agreed by said parties Hot in the event of a suit being instituted to forecbse Mis mnrtgoge, Me Mortgagee shoo
be entitled ro app:y of any time pending such foreclosure suit ro Me court having jurradiclian Hereof for the oppointmenf o1 o receiver of all and singular
the mortgaged property, and of all the rents, incomes, profiri, issues and revenues thereof, from whatsoever source derived; and Hereupon i1 is hereby
expressly corenanted and agrteu shot M• court shall forMwiM appoint o receiver of sold mortgaged property, all and singular, and o1 such rents, in•
cc,wes, proliri, issues and revenue thereof, from whatsoever source derived, with M• usual power and duties of receivers in like cosec; and such ap-
pointment shall be mode by sr;ch court oa o molter of strict right to th• Mortgagee, its successors, legal rcpresentotires or ou)gns, and without reference
to Hs adcquory or inodcquogr of the valve of He proFery hereby mortgaged, or to the solvenry or insohency of Me Mortgagor, and shot such rent,
profits, income, issues and ravenves shall be applied by such receiver to tA• payment of Me mortgage indebtedness, costs and charges, according to
the order of such court.
10. Upon any default under the mortgage note or the mortgage, of tke option of Me holder of the mortgage note the unpaid balance of Me
morpoge note and ony advances reads under it, or the mortgage, together with interes?, shall become due and payable, time being of Me aces«e of
this controN. Any waiver of ony payment under the note or mortgage at any itrwe shot) rot, of any other time, be token b be o waiver of the terms of
the note or mortgage, and the «cepronce of poymenri upon said indebtednau shall not constitute o woiwr of the option of the holder of the note to
ona:crate repayment of Me entire unpaid balance, unleu the holder •:pressly granri sucA woiwr in writing.
11. iF all or any post of the property a on interest Mersin is sold or transferred by mortgagor without mortgagee's prior written consent eaclvd-
ing tot the creotioa. of o lien ar enco~rbra«e subordinofe to Mis mortgage, (b) o tronsfsr by devise, dexent, or by operation of low upon the deoM of
a pint tenant, or, (c; Me grant of any leasehold intercu of three years or less not containing an opfian b purchase, or (d) the creation of a pur-
chcse money security interest for Household appliances, mortgagee may at mortgagee's option, declare all inns ucured by Mis mortgage to be immediately
due and payable. Mortgagee shall have waited such option fo «ce:erots only if, prior ro the sole or transfer, mortgages and the person to whom the
property is to be sold or tronsterred re«Ir agreement in writing Mot such person is a qualified borrower to Ms sotisf«tion of rnotgogee exercised
in its sole dixretion and shot cry modifications of sortie of the mo?p~ge loon os ore required by mortgagee in iri sole and obsolete discretion which
modifications may include without limitotron the role of interest payable on Me sums secured by He marpoge too rote os requested by mortgagee
Have Aeon agreed upon.
If mortgagee eserci:e: such option to orcekrate, mortgagee shall moil mortgagor notice of «cakration by depositing sold letter in Me United
States Mail, postage prepaid, to Me folbwing address:
Such notice shall provide a period of not leu than Marty (30) doys from the date the notice is ,wailed, within which mortgagor may poy the sum de•
dared due. If mortgagor foils to poy such sums parer to the aspiration of such period, the ban shall be in delwlt and mortgagee may, without further
notice or demand on mortgages, inwke any remedies os provided for herein upon the Brent of defoult_
Any woiwr of any payment under tFe note or mortgage of ony time shall not, of any other time, be taken to be a woiwr of Me terms of the
note or mortgage, and Me oc.eptonce of poynsents upon said indebtedneu aAoll not conatitsrte o waiver of the option of the mortgagee to ottelerote
the indebtedneu os provided Fos herein.
h2. H • conveyance slrculd be made by the mortgagor of the preen:ses herein described. a any part thereof, end should the grantee a airy ss*sse-
quent gunstc node. said conveyance, wtr0 has assumed the mortgage and indebtedness, be in defauh by vutu! of a beach of airy of the provisions
of Mis mortgage or she pavrsrons of any assumption agreement with the mortgagee, whither or not said auumption agreement nsodifies the terms of
the mortgage and indebtedness. then and therefore, the mortgagor hereby consenri to assumption and the provisions of any assswnption agreement wiH
she mortgagee, and to any mod,l,carions of tlse terms or provision of the mortgage and indebtedness occasioned by said asssarsption agreement and does
fwthcr hereby grant she mortgagee the right to grant a.tensions of. tame to said grantee without notification of, without the consent of, and without aHM-
ing the liabrhry of the original nro.tgagor. or any subsequent mortgagor.
1~. When any anwsrr?t of moray to be paid by tM mortgagor ro the mortgagee under the terms hereof shag be in default, or should the mortgagor
default in any of the other terms, pr0llisians or ca+d.hons of this rsrortgage, Men in that case the mortgagee shall have the right, without notice to the
+norgago., to cdkct and receive Iron any reran a kssea of said mortgaged premises tM ten», issues and profits of the .sal pate hereby mortgaged
and the improvement thereon, and to give props receipri •nd acquinancp sherd«, after p.y.rrg all commissions o1 arty renal agent calllYfifMJ the same,
and arsy reasonable atto.riyi tees and other necessary espenes irKwred in cdlect:rsg same, to apply the proceeds of such cdlecYron upon any indebted-
; rsess. obligation or habrlity, of this mortgagor hereunder. The right granted the mortgagee under this paragraph shall bt in addition to, and shall not limit
j or retract, any other right a rights granted the mortgagee :n this mortgage
i 14. 1Mt its tM went the premises hNeby nsoagaged, M arsy part Hereof, shall be cordenuid and taken for public use under the power of srrsinst?t
domws, rte Mbrtgapee shall have the right to demand tMt all dernapes awarded fa the ta?rq of or damages to Bard premises shall be paid b the
Mortgapse up b stet amount then unpad on this nartgape and N dN option of Ilse Mortgagee may bt applied upon Mee peynanb tut peynble tMreors.
i
I3. The mortgagor binds himself not b erect a pem+it b be erected any new buiWresgs on Mss promise herein nsortgagad or b add b or permit
~ robe added b any of Ilse earssrsg improvements thereon or make any charspes or elnrarions M card rmprovemenri which materially change tM sense « thse
ass Nsenof, without the wr,sten consent of the Mortgagee, and as Ilse event of any rrOlatian or attempt to vidate Mis stipulation this nsortgage end all
wma secured Isereby sMll rmrtrediatey become dw and collecribN at 1M option of the Morgagee.
Id- It N specifically agreed Mat rinse w of 1M essence of Mis oonnad and that ra waiver of any obligation hereunder or of N+e obligation sewed
hereby sMp at any t.rse be held b be • waiver of tlse terns Mreof a of tM iratruttsent sewed hereby.
17. If forecbwre a«fedings of ally second rrsortgege or second trust deed « any junb? lien of any kind should bt imtituted, tM Mortgagee may,
et its option, isswssediately « thtraafter declwe tAa nwrtpage and Mee indtbtrtdneu secured hereby dw and payable forthwith, and may et its option proceed
b foreclose this mortgage.
lg. to t1+e extent of tM :ndebtednea of tM Mortgagor b ttse Nlorgagee describd horain or securd hereby N+e Mortgagee b hereby subrogaad b
eM tiers or lien and a Mrs righn of tM ovvren ad holden thereof of Each and every mortgage Irons ar other incwssbrartoe m Nr tared dparbsd Mein
svAich is paid and/or utislitd in whole a in part art of Mee proceeds of Me ban desuibed herein or secutd hereby, and tfse Aspeetiw liens of said
nrorgages, Hera a oMor incumb.ances sMll be and the sense and each of Hem Mreby is peserved and s~l pan to and be MW by Nee Mortgagee herein
u security for tM indeb+edness to tM M«tgagee Mrein descrbed or hereby secwed. to tAe same carets tMt it would hew bean peewrwd •rsd would
have been passed ro and been held by thse Mortgagee had it been duly and regularly assigned, nanslerred, sot own and dtlivered vMO Mee mortgagee by
soparaN deed of assigrusint norwrrhstandvq Mee fact that tlss sense tatty be asrisfid and carscefkd of record, it beirq the intemion of the parties Mreto
that tfse saris will be satisl.ed and cancelled of record by Mee holden thereo f at or about tM rinse of the recording of this rttortgege.
H. To pay dl red singuar lase cote, charge end expenses, rnduding lawyer i fees. reasonably incurred or paid •f ony Ntne by 1M Abrtgttgee,
k becasrse of Mee laihrre of thi Mattagor to perform, comply wiM end abide by each and every Mee stipulations, agreetssenb, eonditrorss, end towrsarsM d said
promissory nee and Mis died, or either, and every suds paynaoa slili bear interest from dote at tM sense rate as tM mortgage rtoM.
IN WITNESS WHEREOF, thse said Mortgagor herearnb sets his herd end seal this Nee dey end year fief ebtsve wrillest
Signed, scold, and de1M.d ! c • c 1 ` (SEl1l)
in tM pruetsce d: DAVID A. SALTMAN
;
~ ROBIN M. SALTMAN
~~_:may--.,. . ~ -.s=._ _ _ (SfJ1l1
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