HomeMy WebLinkAbout0919 ~ • ~ .~r
I. All gas, stsa~?, wat~ex .ar~d other heatirg, aooking, r~frigecatir~g, plumbing,
ventilatirg, irrigatirx~ and power systems= and all applianoes, furniture, fixturea and
appurtsnanoes, includirg air-oonditioning ducts, machinery arxi equipment, which are now or
may hereaftsr pertain tA or be used with, in ar on said Land, though they be either detached
or cietachable. , .
J. All of nbrbgagor's rights t,o further encumber the Land for debt,
Tt~e Land and all propecty and intsrests described or refernec~ bo abov~e oonstitutes and
will hereinaft,er be referred t~o o~llectiv~elp as ths "[rbrt~gaged Pc~amises". '
1~D HAVE AND T~ HDLD the M~rt~gaged Premises unto the Mbrtgagee and its successors and ~
assigns forev~er.
At~ID, [rbrtgagor oo~enants with the M~rbgagee, that Nbrbgagor is indefeasibly seized of
the lbrtgaged Pre~aises in ~ae simple; that the Mortigagor h~s full pawer arrd lawful right to
convey the irbrt~gaged Pretnises in fee simple; that it shall be lawful for Mortgagee at all
times peaoeably and quietly t~o enGer ~on, h~ld, ooc.vpy artid enjoy the Mortgaged Premises;
that the Mortgaged Premises are free fram all enc~mbranoes; that Mortgagor will make such
further assuranoes tA perfect the~fee sinQle title to the Mortgaged Premises in Morbgagee as
may reasor~ably be required; and that Nbrbgagar does hereby fully warrant the title to the
Mortgaged Premises and will defend the sauae against the lawful claims of all persons
w}~onu~oc3v+er.
PR~DiVIDED, ALi~IAYS, that if the M~rtgagor shall pay ~to the M~rti9~+9ee. its sucoes~ors or ~
assigns, the s~m of money mentioned in that oertain Promissory Note of even date herewith
( the "Note" secured hereby, made payable t~o the o~rder of ar~d deliv~ered- to the Mortgagee ,
in and by which said Note the lbrt~gagor promises to pay the principal swn of ~lE HUNDRED
EIEVEN ~10[ISAND AND ND/100 DOLI~RS (5111,000.00) or so nuch thereof as may be advanoed, with
int~erest thereon at the rate provided in said Note with a final payment of the unpaid
principal balanoe and acc.v~nulated int~erest due and payable three (3) years from the date
hereof, and shall pay all other s~ms prwided t~o be paid by this Morbgage and the Note, and
shall Qerform, oaaply with and abide tyy each and ev~ery aie of the stipulations, agreements,
conditions and vovenants of the Note and of this Mortgage, and all other aollateral
instrunents securing the Not~e, if any, then this Mortgage and the estate created hereby
shall oease ar~ be null and void and this instrunent shall be relea~ed by the Nl~tgagee, at
tlae oost and expense of the Mortgagor.
I~ AND irbRTC~lOOR ~~IAN'1`S AND P~REES AS [~LGC7WS:
I
~ 1. Definitions. Whenev~er used in this hbrtgage, u~less the oont~e.xt cLearly inaicates !
~ a oontrary int~ent:
~ (a) The word "Mortgagor" shall mean the per~on who executes this Mortgage; any '
subsequent aar~er of the l~brtgaged Premises; any enciorser or guarantor of the Not~e; and their
respectiy~e heirs, executors, administrators, sucoessors,.and assigns;
(b) Zfie w~rd "Mortgagee' shall mean the person specifically nazned herein as
"M~rtgagee" or any sifisequent holder of this Nbrtgage;
(c) ~fie w~rd "person" shall mean individual, oarparation, partnership or uninoor-
porated as.~ociation;
(d) Zhe use of any gender shall incluae all genders;
(e) Tt~ singular rxmber shall include the plural and the plural the singular as
the oontext may require;
(f) If Mbrtgagor be more than aie per~on, all agr~nents, oor~ditions, oovenants,
-pravisions, stipulations, powers of attorney, authorizations, waivers, releases, options,
undertakings, rights ar~d benefits made vr giv~en by irbrtgagor shall be joint and sev~eral, ar~d
sha~l bind and affect all peraons who are defined as "Mort~gagar" as fully as though all of
them were specifically naned herein wherev~er the word "Mort~gagor" is used;
(g) Tfie word "Irlort,gage" shal.l mean this docunent and the Security Doc~ments of
ev~en date herewith, between the parties hereto;
(h) "Security Ax,vnents" shall mean any and all other doc~ments rxyw o~r hereafter
relatirg to or securirg the repayment of the loan, the debt for which is represented by the
Note.
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BOOK J9~ PaGE ~9 `T~'