HomeMy WebLinkAbout2500.~ ' C ~
.~d .~dl o.y .n af~w «.. p,..~a.~ a b o.w b~ ~ti~ M«+~.rw ~~ ~ap pr1~. oo~Dy ~l~l~ as~ ~Lld~ 6~ ~ac1~ aa~
~fsq t~ ttl~l~th+r- ~i+~w~u- oe+~dllkn~ aa1 cer~q d wl~ ~r~{~r pa~ a~d ot tt~ d~ed, thes tbb dMd •~I tJw
e.~.~. ha.6r a.a.d .b.ll c.... a.i b~ .rll a~~ r.ta.
AND TH6 MORTGACOIt doM !~r t~~tA.- anewt u~ yn~ a~ h1b,n,
1. Te p.r dl ~ed ~b+Nl~e tM Pdeelpd wa Int~at ~nd a~ wua et 4onry y~~ab1~ b~ ~tnw o1 ~+W ynwG~.qr pot~
~nd, th4 ~ati.aw or ei~-K. p~o+.pUy ow ih. da~. reiy.at..i~ ~b..m..r..r.lt~ cao. d~a
t To p~y ~II •nd ~Irsulat tasy a~w~snt~. lri». 1bbUitt~ oDllptbas a~J ~acumb:uua o! erer~r artar~ o~ wld
de+edb~d PivPeetl. ~~ch ~nA ~.~rr. ~rfthl~ tb~ tls~ ~yeeitle~ la Par~l~ 6 b~loM. wd U tb~ Nmt ~all oot b~ prasatll V~.
~h• MeK~.,~. o~.r. ~t sn~ tlm~ ~11b~t ble~s er Jt~s dslinqutae~r. P~~ tM ~am~ xithort ~•alrins or ~fteettn~ tM op~low te tora
elos~. er aey ri~ht heteuad~r sad w~ p~rn~ut w pad~ ~6dt beaa I~tete~t f~oa tM dw tlieno! at tba tu~ ot 10 psra~t
ysr ~nnu~.
3. To keep th~ bupdinp aer or h~ts~[tet o+~ ~ald lasd ~nd tl~~ QstutM ~ad petwad Proptrt~ tbeteln contaSo~d Inwnd.
tn a caw~yu~ or oaapmiM ~DW'o»d b7 t!N nart=~~ aj~lsK lor br M~ud wlnditam~ for tl~e l~ishe.t ls~unW~ talw w
~ha~ ehe a~o.ep~ee. inecreat a aot ~~bjeee to eaGuurane~~ ~nd Ib~ polley or polteta .b.ll b. 6.Id br ~ad b~ p~~aW~ to wtd
~sNM ~d ehe mwtp~ ~~I! haw t1N optlo~ te raeiw ~nd ~pp1~ ~aid pi~meat on ~ccouat ot the indebted~w 6ertb~r
~eeured. er pe~mit tM mortp~ W reeelrs or uN te. or ~or p~rt t6eesot. !or aal Pn-Po~e~ Mritbout tLetsb~ rdrlns or I+~-
paicins t~ equitr. lien o~ tisbt ander ~nd b~ dnu~ ot thb mo~t=as~ aad m~~ pl~n and py for ~ueL Inwr~a or an~ y~a
thsno[ without waivina or ~f[ecqq~ W~ optlon to forecbss or anr r~ht heceunda. aad each wch payment st~all Deu intcrest icom date
theieof ~t tM rate of 10 perant per aanum, ~ .
1. 'fo permib co~alt. er wfkr ee ~w~t~ Impairmea~ ~b~sdon~ees~ or.deterbr.Uon ot said p+oyeet~. os asr part tbera
ol, ~nd uyo~ the luluee ot t~ Matp~or q kay tIn ba~dinss ~nd yenoa~l propertr on u!d propertr in ~ood coodition o~ re~
Mir. eLe Morts.,s~e ,~.r dpe.nd eb. t~ed;.t. r.y.4 ot ..sd v~rti. or ~n laerew _ fn tbe anwunt ot aeenrit~. or th~ fm-
anedht~ tep~Ytnent of tbe debt hee+eb~ Meund, ~ed eh~ l~ilnn oE tb~ Moetp~ar to easpl~ rith Nid dno~nd ot tba INorl~ase~
for a period oE lS d.~ ~hdl ooe~ehrt~ a be~e6 oi tlua Mettpse. and u ths optio~ ot th~ Mortsasce, immed'ute1~ oatoro
the entiee amount ot priacipd and lntere~t berebr ~eeuttd. and ebs Mort~qce. io-mediatelr and nithout notice. may b+atitnta
p~oceedinp to toreelose ebi~ Mort~y~ and ayyl~ tor tb~ ~ppoiotiaent oE s Receiver. u buein~iter pro,ided.
S. ?o perfonn. compl~ ~t6 aed abid~ 6~ aeb ~d e-e' tbs ~tipuiatioa~ ajraseet~, oonditioea. and oo~eeant~ L~aid
promiror~ uote aad deed ~et tottb.
Q To deli.er to t6s Mort=asai, ow oR beforo Febenar~ 1 oi eu6 peu. t~: meipts esidenelnt tbe pqm~t o! ~ll lanloli~
impaed ta:e~ upon the mortpsed pro~ert~ !or ths piseediei ea]endar ~ar: to deliru W ibe Martsa~ea rtulpe~ e~ideneios tba
p~finenb o[ all liees for publie Improremeqb withiw Njaet~ (90) d~~s dter tM suns ~hall beeom~ due and papbby aod to pa~
or dixbarse v.ithin Niuet~ (90) d~rs Jter dw d~t~. ~ a~d Rll ~ovemmentd 1e~ia tb~t mq be made os tAe mortpjed
Propertp. w ebu Mat~q~ or nsts or in as~ ottiet ~n~ raultie~ itow t6s mortRa~e todebtsdaa~ ~ecsred 6~ t1~b ~Katps~.
7. To psy all and sinaular th~ costs, chatsa, and expenses, indudina~lawrer's [as aad sbitnctin= [ees, reasonably Incurred or
paid at aay time Dy the Mortauea. beause of the failure of the Mwt~ot to pertoem. comply with and abidc by each and crcry the
stipulatio~u„ ~geements~ eonditioas aod oorenants of sald promi~wry note aad this dad. or either. and every wch paytnent shaU bcat
laterat feom date thereo[ at ths rats of 10 percent per ar-anm. Said obliaatioa slull atso include oo~ts and attomer [ee: inwrred in any
appcUate proceedinss.
a- ~at i~ aa7 actioa, a p~~d~os. aball bs oosommccd b7- anr penon otbcr tLan the ~ioldcr of ~biu mortssge (escept
an aetiow b ioreelo~e this mo~tss~e. or to eollat the debt ~ecared theeeb~) to ~rbicb action. or proceedina, the 6olda of this
morta~e i~ mads a partr. or in rrhieb it s1uU become aeeerarT to detend. or uphdd. 1he lico of this mat~y all sums
pa;d bp tbs 6older of thi, moreg•se [er ehe espeaas ot ~n~ litisation w pra~ecutG or detend, the riahts ~nd lien~ crrated br
thiu mortpse (irxludin~ re~waable coua~sl [ea). ~bdl be paid br the Mortg~aor. toEethcr ~ith intereat theroon. ~t tbe r~te of
10 pereent per annme, and anr sneh w~q. ~nd the intereat thereon. sh~ll be a claim upon said premixa. aod ah~1) be deemcd to
be seeured br thu wortg~aa T6a wau paid br or incurred b~ the holder hereoE in accord~nee "v-ith the tern+s o( thia y~r~graph.
- +~~+°P~~'bT~~~ ~an`fithe-fiilurc'si's-tntaioh ot'~t~e 1-tatsssor io ~o do
~dl entitle t6e biat`~see to ~dd iueh wms W tbe priaeipd 'wdebtedness of thia morts~`e aod t}~e note it seeures. ~nd/or ~t ita
option detlue thu mort=ase aad tha note It ~ecara to be in dctaul~ tLereupon m~turin~ all oi the unyaid indeMednos~ including
the wnu adranced haeonder.
9. 7'hat no e:tcnsan ai the tims or modifiution oJ tbe terms of pa~mnent herciaabor~ and no relcase o( anr D~ a~ P~~~~
oi the mortaaRed premixs, e~co thouah made without t6e ca-~eet oI tlie Diortgagor shall ttleax, reliare. or dixh~rge the
I-toreaasor fro~n ehe p,nea~~ ot .~r ot ihe w~ hercbr secu~ed D~e in wch e~ent the Mor~a.Ror sh.ll nerMhelas be liable to
par sueh wms ~eeordins to t6e temu oi suc6 eitension or modifiutiona ualey spcc~fiully rdeaxd and dixharsed in nri~ina
br the Iltortgagee; aad lu~t6enuorc. th~t ~ccepta~ce oI put pa~meat of ~ny inetillment of prineipd or interea~. or both, or o(
part perform~nce oE aa~ eormant or del~r (or an~ period oI time in esercising the option to m~tuct ~he entire debt. ~h~ll no~
oper~te ~s a~rairer of the riaht to e:etute wch op~ion or ut an auch dd~ul~ partid ~tcept~ntt or an~ eub~equent det~ull.
lQ Until default in the pecforn~s~ce o( the co~enanb and agreemenb oE this T~forta~se. the I-fongagor ~hall be entitled
to collett tbe rents, issoa. and profits from Ihe prEmixs hereiobefore dexribed. but in c~se oi a de(sult in ~n~ of the terms o[
this btoASaaR or the filina ot a bill to toreclo~e this or ~nr o~ber mod~~se eacumberin~ lhe within describcd propcrtr. the
Jltortgagee sh~ll immediatelr ~nd without n~tice be entitled, ~s a matter ot right, and withou~ re6srd to the ~alue ot the prcmixs.
or wlreacp or ineol~~encp of the p~rties. to the appointment o! a Recei~er of the mortgaaed pmpert~. hoth red ~nd penonsl. ~nd
oE the rents. iswes aad protib thereoi. ~rith the uw~l po~+et of Receirets in wch casss, ~nd such Receirer mar be continued
ia posx~siw of tl~e said pcopert~ until the tiine oI the sale theteof. under ~ncb toreclowrc. and umil the con(irm~tion oi wch
s~le by etie Court.
11. If foreclowre ptoceedinss should Ae io~titutcd on anr mortsage inferier W this mortga6e or i( anr torcclow~e pro-
ceedir.~ is iastc:s:;.~ aa a.~r lirn a~ a~7r .'cind. :~ ~:,o:ea~a~t raar at its ap::oa is.rae,'.ia:cls a: ~he:ea(tec dee!a:e this mortesge
~nd the indebtedne~s xcured herebr. due and payable. If there is anr awrtgage wpcrior to thi~ mon6~se. then failure to p~r
wid mortgaae ~rhen due and in ~ccordance ~+ith its terms or tailure to abide br the ter~u of s~id monaage shall be deemed a
brea:h oi this mortgage and the mortpgee at its option m~r immedi~tdr or thetta(ter detlae thi~ mortgaae and the indebtednw
herebr secured due and par~ble. Anr modifie~tioa ot ~nr mortsaae superior to this mwts~Re or aaircr ot ~nr ptineipd or inlcreft
Darmenta on ~n~ note or moRa~Re superior to thN mortgage ~dl be deemed ~ brcuh o( Ihe tum~ and covenaata o( this morlgage
~nd the mortg~gee hercot.mar ~t iRs option detlare thi~ mortP6e and the indebtednas securcd herebr due and p~rable.
l2. Th~t the mailing ot a~rritten notice o( demand, addresxd to tfie o~+ne~ oi ruord of the inortR~g-d prcmisca, dirccted
to the ~aid oaner at the last add~es+ ~ctuallr furnished to the Atortg~gee. or directed ~o Ihe s~id o~.ner at aaid mortgaacd prc-
mixs. and m~iin! br the United St~tes m~il~ slull be iuf(icicnt notice and dem~nd in anr u~e arising undct this in~trnment ~nd
required by ~he p:orisions hereoE or br larr. '
13. Th~t in the erent tbe biortpsor should a»isn the rents oI the mort`aaed prcmixs or anr part ~hcreof v-ithout ~hs
tonxnt o1 the I-tortsaaee. ihen the entire pdaelpd wm ~ecured Aerebr ~hdl, ~t the option oI ~he Mortgagce. become immediue-
l~ due and p~r+~ble. -
14. To the extent of the indebtednes~ of the blortpgor ro the blortg~gee dcxribcd I~crein or securcd hccebr. the btartq~Ace
Is hcnbr ~ubrogated to ~he lien or liena and to the righu o[ the o.+nen and holdcn thereof of e~ch ~nd ercryr mortsaae. lien or
othtr eacumbr~nce on t6e land dexribsd herein ~hieh u paid ~nd/or aatis(ied, in aho:e w in part, out ot the prxceds oI the loan
dexribed herein or accurcd 6erebr. and the resyecti~e liens of ~~id mortj~aes. lien~ or other cncumbrancea, sh~ll be and the ~une
•nd eaeh oI them herebp u prexrred and ~hall pw to ~nd be held bp tl~e'_Lfotta~see Ferein u~tcuriq for t6e indcMednnr lo tY~e
1lfortssses htrein dexribed or herebr saured, to tfie ~seoe ~tent th~t it would b~re been prexr~ed •nd Nould hare been p~ascd to
•nd been held b~- the Morts~aee had it been dulr ~nd regul~rlr ~ssi;oed. tramterred. ut orcr and delircred unto ehe MortRise~ br
sep~r~~e deed oi assianment nolwithstsndin~ the f~tt th~t the aame mir be uti~(ied •nd cancelled ot recotd. it LeinR the inten~ion
o( ~he p~rties hereto th~t the same M~II bE Ialbllld ~Od caatelled ot record b~ the holden th.reol at or ~bout the time of Ihe
ttcordin6 0( thi• Mor~g~sa
b~~ix 3~9 e ~cE 2~~