HomeMy WebLinkAbout2493AND ALL REPEMUILS TFERE~ SWU_L C~ITAIN A~~LOSS PAYABLE~~ OR '~STMDARD NbRTGAGEE~~
CLAl1SE. AT TFE OPTION OF MORTGAGEE, PAYABLE TO NbRTGAGEE AS ITS INTEREST MAY
APPEAR. UPON ANY DEFAt~T TFEREOF, MORTCAGEE MAY (BUT WITFDUT 08LIGATION ON ITS
PART SO TO 00) PLACE INSU2ANCE ON SUGH BUIL~INGS. PAY TFE PREMIt1M MO CHARGE
Sl1CH SUNS SO PAIO TO MORTGAGOR. MD Sl1CH SUMS OF N~EY SO PAID SHALL BE SECI~E~
BY THIS NbRTGACf. IN TFE EVENT ~ A LOSS BY FIRE OR OTl-ER CASt.IAL.TY, NbRTGAGOR
W I LL GI VE I M~EOI ATE NOT I CE BY MA I L TO Tt~ NbRTGAGEE .
4, FIFTN: THAT ALLSUMS OF NID~EY SECURED. PAID OR CAl1SED TO BE PAID BY NbRTGAGEE
I~ER Tlf TERMS OF TH I S MORTGAGE APD F~RE I N SPEC I F I CALLY PROV I DED F'OR , MD I N-
CLUDING ANY EXPENSES INCURRED BY MORTGAGEE IN COLLECTION OF TF~ SUNS SEGURED BY
THI S MORTGAGE SHALL BE COVERE~ BY TFiE ~ I EN OF THI S I~~OF2TGAGE , TFE SAME AS ThE SlX+1S
OF MO~EY REF~ftESENTEO BY TFE NbTE HERE I N OESCR I BED .
$ I XTH s TO PERM I T. CONN~ I T OR SI~FER t~ WASTE . I NPA I RNENT OR DETER I ORAT I ON OF
SA I D PROPERTY . OR ANY PART TFEREOF , AND l~(]N Tl-E FA I LIJRE ~ Mbf2TGAGOR TO KEEP Ttf
BUILDINGS ON SAID PROPERTY IN GOOD CONDITION OR REPAIR, MORTGAGEE MAY MAKE DEMIIND
I N WR I T I NG FOR T1-E REPA I R OF SA I ~ BUI LD I NGS . APD ThE FA I LURE OF MORTGAGOR TO CONPt_Y
WITH SAID OEMAND OF MORTGAGEE FOR A PERIOD OF TEN (10) OAYS SHALL CONSTTrTUTE~A
BftEACH OF :fHI S MORTGAGE . AND AT TFE OPT ION OF b~IORTGAGEE , I MrEOI ATELY MATI~E Tif
ENT I RE U~PA I ~ PR I NC I PAL AND I NTEREST Ff REBY SECIRED , APD NbRTGAGEE MAY , W I TFDUT
FURTlfR NOTICE, INSTITUTE PRO~EEDIN6S TO FORECLOSE THIS NDRTGAGE MD APPI_Y FOR TFE
Af'PO I NTNENT OF A RE~'~ I VER AS F~RE I NAFTER PROV I DED .
SEYENTH: THAT NbRTGAGOR DOES FEREBY PROMISE, COVENANT A1~p AGREE TO PAY TO
NbRTGAGEE , Pf20MPTLY MIFIEN Ol~ , Tif SUN1S OF NDrEY AND I NTEREST AS NENT I OrED I N SA 1 D
PROM I SSORY NbTE . TOGETFER W I TH M11f AND ALL OT1f R S1~15 J USTLY Dl~ MD OW I NG MORTGAGEE
BY TFE TERMS I-EREOF MD SECt~2E0 FEREBY . I NCLUD I NG ALL AD~ I T I ONAL SI~IS ADVANCED W I TH
I NTEREST Tif REON AS F~RE I N PROV I OED ATD SECl~2ED FERE9Y . N~D I F DEFAU..T , THAT SHALL
.. ~ .
BE CWTIry4JED FOR TFE ( 10) OR MDRE DAYS. SHALL BE MAOE IN TFf PAYNENT OF T?f SAIO
SUM.S OF NDPEY OR ANY PART THEREOF AS PROVIDED IN TFE SAID f~bTE OR THIS MORTGAGE. OR
SFIOULD MORTGAC#2 BREACH OR FAIL TO CONPI_Y WITH ANY OTFER COVENANT OR AGREENENT BY
IT TO 6E CONPLIED WITH (IN TF~SE CASES WITH RESPECT TO WHICH ThE OPTION OF NbRTGAGEE
, ~ '
~2 ACCELERAT I DV I S PDT OTFiEF2W I SE EXPRESSLY PRO V I DED FERE I N) AND SIJCH 6i2E AU-i OR
~.
NON-CONPLIANCE CONTINI~ IN EXISTENCE FOR A SPACE OF TEN DAYS TFEN FROM TI-ENCEFORTH,
AT TFE OPTION OF NbRTGAGEE. AND WITH TEN (10) DAYS' RECEIPT OF WRITTEN NOTICE TO
MORTGAGOR . TFE WI-DL_E OF Tff l~W A I D PORT I ON OF SA I ~ PR I NC I PAL SUM EXPFZESSED I N SA I D
hbTE , TOGETFER W I TH ALL OTHER SI~NS TFERE I N AS WELL AS FERE I N PFtOV I OED FOR , SFiALL
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