HomeMy WebLinkAbout2462prior to emry of a judgme~t enforcing this Mortgage if : 1 a) Borrower pays l.ender all sums which would be then due under
this Martgage, the Note and notes securing Future Advanrrs, if any, had nu •rcceleratio~ occurred; (b) Borrower curts
all breaches af any other cove~ants or aRreements of Borrower c~~ntained in this Mortga¢e: fe) Borrower aays all reasonable
expenses incurred by I.ender in enforcing the coven;~~ts and ag~eements of Borrower co~tained in this Mortgage and i~
enforcing I_e~der's remedies as provided in paragraph IR hereof, including, but not limited to, reasonable attorney's tees; and
Id) Borrower takes such action as lxnder may r~asonably rcyuire to assure that Ihe lien of this Mongage, Lender's interest
in the Propenp and Borrower's ohligation to pay thr sum~ secured by ~his Mongage shall contintx unimpaired. Upon such
{~yment and curc hy Borrower, this Mongage and the obligations secured hereby shall remain in full force and effect as if
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y 20. • Assjgnmenf of Rents; Appoinfinent ot Recel~er. A~ additional security hercunder, Borrower hereby assigns ta
l.cndcr the rents of the Property, provideJ that Borruwcr shall, priur to acceleration under paragraph 18 hercof or abandon-
ment of the Property, have the right to collect and retain such rents as t6ey become due and payable.
Upon acceleration under paragraph IR hereaf or abandonment of the PropeAy, Ixnde~ shall be entitled to have a
receiver appointed by a~ourt to enter upun, t~ke ~~ssession of anJ manage the Pmperty and to c~llect the rents of the
Property, including those past due. All rents cullecteJ by ~he receiver shall be applied first to payment of the costs of
management of the Property and collectiun ut rents, including, hut not limited tu, receiver's fees, premiums on receiver ~
be~nds and reaso~able attorney's fees, ;~nd then to the ~ums secured by thrs Mortgage. "Ihe receiver shall be liabk to account
only tor thuse rents actually received. •
21. Fnture Ad~•ancea. U~x~n rcyucst by Borruwcr, I.cndrr, at Lcndcr's optic~n within twenty years from the date of this
1~1ortgage, may make Future Advances to Borruwer. Such Future Advances, with inrerest thereon, shall be secu~ed by this
:4lortgage when evidenced by promi~sory notes stat~ng that ~aid notes are secured hereby. At no time shall thc principal
:~mount of the indebtedness secured by this Mor~gage, not including sums advancrd in accordance herewith to pratect the
securiry of ~his Martgage, exceecl the orig~nal amaunt of ~he Note plus USS. ----~----. :------. '
22. Rekase. Upon payment ot all sums secured by th~s Mortgage, t_ender shaU relea+e this Mortgage without charge
to &~rrawe~. Rorrowe~ shall pav all c~atc ~f recnrdan~.n, ~f any.
23. Adoraer's Fees. As uscd in th~s M~~rtgage and in thc Nutc, ' attumcy s fc~:s" shall ~ncludc attorney's fees, if any,
which may l~e awardecl by an ap~x:llatc court.
IN WITNESS WIIEREOF, Borrowcr has cxerutcd this M~rtgagc.
Signcd, scalyd anJ delivcrcd
in thr presrncc of:
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Ru t h A. S t a r k -9onower
ST~reoF~uh~w(d~l,.....Michigan ..............•-.--•---•~6d~Vyss:
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I hereby certi4~thaf-6n this day, tx:fore m~, an otticer Jul~~ authoriud in the state aforesaid and in the county
:~foresaid to take acknowledgemcnt~, Exnonally appcared.Danie.i. .L. .Stark .and• Ruth .A, •Stat'k; - • • • • • -
h.i s. .w i fe . _ . _ . . . . . . . . . . . . . . . . . . . . . . . . to me k nuwn to ~ the p~: rson ( s ) described in and who executed thc
(oregoing instrumrnt and scknowlcd~~~~1 bef~~rn mc th~t. .~~ey. .. _....rxecutcd th~ samc for.the purpose thercin
expresseci. ~
W~TNtss my hand and offirial s~al in t e cuunt}~ anu ~tat~ aforesaid this. .. . . ?~rd . . . . . . . . . .. . . .day of
February .. . . . . .... . . .. . . .. . . .. .. 19 ~~ .. ._
My Commission cxplres:
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Notary Pi~i.~~~. G:::' .. C .. . ,+,,:r.ga:~
My :'o,n:::.;s;~n Ex~•res 'la~,rf 6 19d1
(SDace Bclow This L1ne Reservee Fo~ Lender and RecorCfer)
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~,'~351 S~aL~2458