HomeMy WebLinkAbout2422,
G. If the Mortgagee shall default in making a required
payment of principal and/or interest under the First,Second
or Third Mortgage, the Mortgagor shall have the right to advance
the funds necessary to cure such default and ail funds so
advanced by Mortgagor together with interest tl;2reon at the
rate of twelve percent per annum shall be credited against
the next installment(s) of interest and principal due under
the note se~ured by this mortgage.
H. Mortgagor and Mortgagee agree to promptly ~end to
the other copies of any notices received by them from the
holders of the First,Second and Third Mortgages. In addition,
Mortgagee agrees to send to Mortgagor at the time Mortgagee
makes each payment provided herein tc be made by ?~lortgagee
to such holder of the First,Second and Third Mortgage,
evidence that each such payment has been made (a copy of
~iortgagee's transmittal letter, if any, will suffice) should
the ?~!ortgagor so req~aest of the Mcrtgagee in *Rri*i.^.g.
1. Notwithstanding any provision to the contrary contained
herein, interest shall not be payable by the Mortgagee upon
any sums deposited with or held in trust by the Mortgagee
pursuant to any provision hereof.
J. Mortgagor shall hve the right to preGay the whole
or any part of the unpaid balance of the indebtedness hereunder
at an}• time without penalty. However, it is ~greed between
the Mortgagor and the Mortgagee that any prepayments shall-be
~irst applied to the payment of the First Note and i~tortgage,
then the Second Note and Mortgaqe and then the Third Note and
~lortgage. Any prepayment shal? be applied to the interest
accrued to the date of prepayment and then to ±he princigal
indebte~ness. Any prepayment being applied to the principal
shall be directly paid for the principal reduction of the
First,Second and Third :~lortgaqes and Note ar.d all three mortgages
and notes shall be paid over to the Mortga.;ee herein.
K. ~iortgagor shall be respor,s~ble for obtaining insurance
on tre property at the highest insurable v~lue ar.d sa~d !~~rtgagor
agrees to provide the insurance company witr the names and
interests of this Mortgage as well as the holders of the First,
Second an~ :hird ~Sortgages.
£::TERED I~TG anC agreed by the undersi~ned on the ciay an3
}-ear ; irst above writter,.
'~70 TGAGOR :
;' . d3 ~ - ,
Alf ed Brahmer
; ~~ : s a f • --- ' . , . . .. -- • - .- ~ .
f:.:~N-._- ,. ~.... _ - _ . A
,- ~ ~_
81,912.GS , _ /anette tfade ir~e Brahmer
~ _ __ ` ~~
~ ' ' , f . . . _ ~ ~ . ~ . ' _ _ . 1 ~ ~ I ~ /~ ~~ ~/ ~ I
? . :: _ . _ .,.~..:. __: i:,__~ :.._ %'rtOkTGAGEE:
~.' .._ _, . .._ ~ :~,.._ :_. J~C:~BSUN-P,ER, L`vC. ,
.rJ. •~}~~ a Flpria~ Corporation
~- ~ ~ B `' ~ .~/~ ~ ~ "~~~
~$1 N,~,~ 3~ .~~ ~~ - J' Pres iden*_
,~
`~r`-~`Lr,•~4:-`"~.,`.~ ,~ ~= ~ -
--- - ~ ~ ..~. f .,;,, `~
,. _
; ~.v~ c~~~~ ~ s~.~., i
_. ; ...~ ~~
: : , ;GSt
~ ~:K 351 ~ ~~t 241~ ~ Y~ "-1~ J ~