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The Mortq;e~ur hereby covenants with the Mort~e~ee~~ thet he ia indeleaxibly seized of aaid Lnd in ic~e
simplQ or such ul,her ea:ate, J any i?a ie atst~eci herain; t,l~at, he 6~v Iull power ~nd lawtul right to co4vev the same ;
aa afan~id; i,hat the laud is iree ~rom ali eacumbrvnces except, as hereia oLharwixe recit~ed; thet said Mortgagos
will mnke suc6 turthar aagucancea Lo pmvo the aforesaid title i,o said iand in said Mortgagse us msy be re.ason- '
ablyrequired, end that said Mortgagoc does hereby full}~ w~rrant the title to said land, and every parL i.hereot, ;
and will deignd the same against t,ho lawf ul claim$ oi all perKOna whom.9oever.
Pxovins~ ALw~Ye that it t6e ?~iortge~-or ahall pay unto tLe Mortgagee that certain promisaory note~ oi
~vhich the following is a subatawlial oopf, to wit:
= 50,250.00 5~~, ~
APRIL 21 , 19 83 .
FOIt VALUS ~ECElVED~ the underaigned promise(s) to psy to :
~1AyUFAGTURERS tiANOVER MORTGAGE CORPORATION
, a corporation orgsnised and e~Ling under the
Iswa ot THE STATE OF DELALv?ARE ~ or order, the principal sum o! FIFTY THOUSAND TWO HUNDRED FIFT~
AND NO/ 100--------------------------- Dollars (t SO , 2 50 , 00 with interest from dete at
the rate of TWELVE per centum ( 12.0 ~Jo) per annum on the unpaid balence until paid.
The said principal ~nd interest ahall be payable at the of&ce of MANUFACTURERS HANOVER MORTGAGE
CORPORATION, P.O. BOX 1800, 27555 FARAIINGTON ROAD ~
~ FARAfINGTON HILLS, MI 48018 , or at such other plac,~ as the holder may desi¢nate in wcit:ng
delivered or mailc~d to the debtor, in ~s~ec~thly installments of FIVE HUVDRED SIXTEEN & 88/ ]00---Dollars
5 16 .$8 commencu~g on the first day of JUNE , 19 83 , and continuing on the
firat dgy of each month tbereafter until this note is fully paid, except that, if not sooner pnid, the final payment
of principal and interest shall be due and payable on the firat day oi riAY , 2013 .
Privilege is reserved to prepay at any time, wzthoat premium or fee, the entire indebtednees or eny part
thereot not less than the amount of one installment, or one hundred dollars (~100.00), whichever is less. Prepayment in full
shalt De credited on the date received. Putial prepayment, other than on an installment due date, need not be credited until
the next following installment due date or thirty days a[ter such prepayment, whichever is eazlier.
If eny deficiency in the payment of any installment under this note is not made good prior to the due date,
of the next such installment, the eiitue principal sum and accrued interest shall at once become due and ~ap-
eble without notice at the option of the holder of this note. Failure to eaercise this opLion ahall not constitute
a w•aiver of the right• to eaerc~se the same in the event of anv subsequent default. In the event of default in the
pavment uf this note, and ii the same is collected by an attorney at law, the undersigned hereby agree(s) to
pay all costs of collection, including a reasonable attornev's fee.
This note is secured by mortga~e of even date ezecuted by the undersigned on certain pmperty described
thereiu and represents money acti~ally used for t6e acquisition of said property or the impmvementa thereon. '
Presentment, protes~, and noticP are hereb3• w•aived.
j sJ_. ROBERT B CRESWELL , JR. _ _ _ [SE~L]
-/s,(--NANCY K. CRESWELL----------------------- ~~L)
~ --:L-l - ~sEAL]
~
, /
,
--~--=t---~~ [s~L~
And shall duly, promptly, and fully perform, discharge, execute, eHect, complete, and comply with and abide
by eaeh and every the stipulat~ons, aqreements, conditions, and covenants of said promissory note and of this
mortRa~;e, then this mort~age and the estate hereby created shall ce~se and be null and void.
The Mortgagor further covenants as follows:
1. That he will pay the indebtedne~.s, as hereinbefore provided. Privileqe is reserved to prepay at any time,
without premium or fee, the entire indebtedness or any part thereof not less than the amount of one installment, or
une hundred dollars (5100.00), Nhichecer is less. Prepa~-ment in full shall be credited on the date receiced. Partial
prepa~~menl, other than on an installment due date, need not be credited until the next follow~ing installment due~ datt~ ur
thirtc da}~s after sueh prepa~•ment, whichecer is earlier.
2. )n ~~r~lt~r ~i~~~r~• full~~ t~~ }~r~~tt•~•t th~• .~•~~urit~ ~~f tfli> innrt~x~~~, th~• ~1~rt~?t~•~~r, t~~~~tiu~r w•itii, an~i in
u~i~lili~,n t~~, th~• r~~~~ntl~l~ ptt~~int~tits tn;il~•r th~• t~•rrn. ~~f t}~~~ n~~t~• .~~~•ur~~1 h~•re~lr~-. ~~t~ tl~~~ fir:t cln~ ~~f ~~n~~ti in~~nti~
until th~~,ai~1 nut~~ i~ full~• ~,:ii~l. ~~ill p:~~~ tu tF:~~ i1~~rt~::i~~•~•. truste•~~, (un~lr~r th<< e~•rnis ~~t thi~ tri~st ti; !i~~r~~ir~-
~ift~~r ~t~~t~•~1) thr f~~llc~uir~~ ~utri;~
(a) A sum equal to the qround rents, if any, next due, plus the premiums that will next become due and payat,le
on policies of fire and other hazard insurance coverinq the mortRa{~ed property, plus taxes and a~v~~,~rnc~r,ts
next due on the mortqaRed property (all a5 estimated by the ~tort~aqee and of which th~ ~tortRa~or is
notified) less a11 sums already pa~d therefor divided by the number of monihs to elapse before one month
prior to the date when such qround rents, premiums, txxes, and asses.5ments will become delinquc•nt,
such suma to be held by `lortga{~eeintrusttopaysaidgroundrents,premiums,taues,ands~ecialas.se~.~m~nts.
(b1 The a{t,~re~ate of the amounts payable pursuant to subparagraph (a) and those payable on the not~ ~cured
hereby, sha.ll be paid in a single payment each month, to t~ appl+ed to the followinq items in the order
9L8tE~ :
(I) ground renta, taxes, ~ssessments, 6re, and other hsznrd in~urancP premiums;
(II) interest on the ~ote secured hereby; and
(III) amortization of the principal of said note.
An~~ ~IPficiency in thP amount ~f surh a.~~n~~atF rn~~nthl~' pa~•mcnt shall, uni~~ss rna~l~ ~iu~~i th~ .'.1<~rt-
gagor prjor to the due dat~~ c~f t1i~ nr~t su~•~~ pe~~rn~~nt, ~•~~n.titute an e~•cnt of d~fault un~l~~r ti~i, m~,rt~a~;~.
At ~1ort~;a~c~e's option, 11ort~a~nr w•ill pa~• e"lat~~ rl~Rf'~!t•" n~~l. c•s~~edin~ four p~r ~entum (4 c~f an}~ install-
m~nt w~l~en paid more ihan fifte~~n ~1:;) ~la~~~ aft~•r th~ ~lu~~ ~iatA th~r~of to rover the ~xtra expc•ns~ in~•ol~•i•,1 in
handlit?€ dciinquFnt pa}•m~nte, I,ut ~iir•h "Iat~~ ~~har~,~~~" ~hKll not bF~ pa~•ahlc out o( th~ pr~rt~~~~ls ~~f an~• sxlr
ma~1~~ to ~ati~(~• th~ ?n~i~htc•~In~~s~ cr~~rlft•~) Iir•r~•~~~•. urilc~~~ su~h pro<~e•c~~Js ere stlfii~i~•nt to di~har~~~ thc~ ~~~ntire ro
indebtctln~•s5 end BU prop~r ~•~~ts and t•xp~•nscs ~ccur~~d thcrcb}•. ~
(f th~~ tntnl :~f tl,~~ f~:i~i~~~•t~;~ ::~:i~l~• 1~~ th~• ~1~~rt~:i~~~r t~nil~•r la; n( ~~~itii~•rnE~l~ ~~r~•~•~~~1tn~ :hnll ~~x~•~~~~rl
thi~ uriiuutil (~~t~ ~ni•~it. a~ I~~u~l~ ~~~~i~l~ h~ th~~ \1Urt~~~~'~•r. :f. lru~lr•~~. f~~r r•ri~utii~ ri•~~t~, tuxi~; a!i~l xti~~~..~iirt~~s. ~
tsi~~l ~ti:urr?ur~• ~~n•i!!iun~~. tt~ tii~ ~ i~,:~~ h~•, .~~i~h t•~~•~~:.•Ir.~~l h~• rr~~ilit~•~1 ~irt ~tjf~5et~u~~nt ntit-tri~•r~i~ tti h~~ trtH~lr
~t tlir ~lnrtku~~~r /~~r ,u~l: ttrn;~ ~~r. :,I ~1urt~:i~~.~~'. n~rti~~~,. i~c ~ru~ti~r, :I~all.h~ rr•~ti/tc1c~~1 t~~ ti1~~rt~;Kknr. I(. ~
hnK~•~~~r. :ur}~ iti~~ntlile j~t~~ nii~ni: •luill n~~t I~~~ :~~}?i~ i~ tit t~~ ~~ti~ :ii~~h ile•ti~. µ•hi•r th~• .tiiii~• .It~?~~ h~~~•t~~nt~ il~~~~
tsn~l (~~it-ahl~~. thi•n tlu• \1~:rtk,~;•~~r ~I~:~II {~:s~ t~~ th~~ ~tr~rt~ti~,~~•. :i. tru<I~~~~. tui~ u:u~~nht n~•~~~~.,tir~- t~~ ~nx~~• up
if~~~ ~I~~fi~ ~~•n~ ~ ~n~ f: E~n"~~~~t~~ .t~iiil «rt't~ir~ ri;irt~ :i11~ ritit~ :tft~•r ~crttte•r~ r~~~ti~•~• fr~~r~~ il~e~ ~1~tt~,•x~t•e.
stxtin~ tli~~ am~unt ~~f t}ir• ~l~°firi~~rr~r, ~clu~•h r~~ti~~~• nia~- ht~ ~,~~rrn l,~• ?nx~l lf :~t an~~ titnr thr~ :tilnrtgaKor eha!!
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