HomeMy WebLinkAbout0995 1. '!b pU~ ~ll and ~r~ul~r lhe p?ineip~l and lnterest ~nd olhsr sum~ of mont7 WYable Dr vtrtue of ~aid promWory note and t!?b morttaSe. or ~ItAer.
D~V~b on tAe d~Y~ ~ively. the same sevenllr cae~e due.
1b p~ all ~nd iin~ula~ the ta:es, a~easmeets. levies. lisbilitlcs, oDli~aponf and eneumbr~nees ot every naturc on tsld dear{bed properU~. a+ tl~b
~u ye pr note, or in sny w~y rewlUn~ Iran lhe indeEted~ets aen+ted by qds mortN~e• NtA and every wAen due and psyable ~ctordin{ to l~r, Delae
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they dellnpuent, ~nd lt tAe same shaQ nol Ee WwnpUy V~id tAe Bant may at ~nr time eithe~ betorc w after del~opuentY pa7 lAe ~am~ wiithout
w~~ivin~ or aReclir~ the optlon to toreelwe. or anr rl~ht hereunder. snd every pa7~~1 ~++11 beeon?e Wn o! lhe indeMedneas ietu?ed pY
mortRye. and sA~ll beu inteted Itom tAe dale W WI'ment tAereol at tAe rate provided in tAe D~omissory note seeund hercby: and every payment w made,
and iatereA thereon. sAali be rep~id br tAe morl~aLur to tAe Bank In weA ma~ntr u the Bank shall ropulre. The e~wrl~~io~ turlhet atnrs b de1Wt~ b
wid Haak. on or beLore 1lareA IStA ot eaeh year. lax roceipts evidenein~ ibe payment ot all Iawlully impased ta:es tor the prceedin~ eslendat Year and to
delive~ iD atd Bank. reeeipts evideaelnj the psyme~l ot aU liens tor pu~lk improvement~ wit!?in ninctY (90) days atler the same shall petome due and
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'Do keep :Ae Duildin~ and alle~ uipaxnt and perwn~l Dropery ~ow or Aerestter on said premim, co~end by this 1[ort~ase, i~uurtd apinst lon or
a,~.se er e.r a~a such olher inwrable pcriL as tht Har~k s1wU trom t~mt to Limt reduire. in wch amounta as tbc Bank sAsll nyu~re, er •~w~?r ~
companies and throu~h aa a~eney saUstaetorr to the Bank, ar?d ssid policy or polieies shall be Aeld by the Bank and shall bear a sundard New York enoet-
p~ee elawe without contribuUon, makin~ the loss under sald polieiea parable to tAe Bank u mortpsee as ~b intercst may ~ppcar: and in the event any
suma ot money beto+ne paYable under such polier or polieies, tt~e Baak sha~l have tM optio~ b rcceive and applY lhe same on accou~t ot the indebtedneas
hereDy ieeured, o~ to pcrn?it lhe mortsa=or to receive and use it, or anr part tlxreol• tor other purposcs, without thereby waivins or impairin~ any eauitr,
Ilen or ~ht u~der u~d by virtue ot U?b nwrtsaje: and in the event the morisa~ does nol eaanP~r with thb covenanl, ihe morl~a~ee enar Place ~ed WY
for wch iawranee. or any ~art lMreot, writhout wa~vtn~ or aQectins the option to foretlost, or any ri~ht hercunder, and eeery payment so made shall betome
part ot Ux tndeDtedness secured by tl?b mortp=e. and shall beaz intered (rom tAe datt o( payment thereot al tht rate pwvided in the promissory note
•eeured hereOY: aad every paymeat io made, and interest tl~ereon. shall De repaid by tAe mortsa~w to the Baek in sueh manner as the Bank ahall repulte.
4. In order to more tullr protecl tht aeeuritY ot tAis mort[a`e and pmvide tor the paYment ot tues, asseuments and insur~nee premiums upon the
propertr cneumbcred Aereby, the Hank maY rcVuire, and in that event the nwrtpso~ a~rees to paY to tl~e Bank escA month at the time the paymenL
provided Cy said promitsory note are due and in addition lo said payments a sum epual W one-twellth ot an amount estimated by the Bank to be tuf8clent
for the Bank to pa7 said ta:es, asses~menb and insunnee premiums when the same ace payable. 1[ the amounLs paid under this para~nph shall not be
su~cient to enaDle tAe Hank to pay said taxes, assesunen4 and inwrance premiums, the mortsa~or shall p~r tAe diRerence to lhe Bank on demand.
S. U the moctqi~ ~I ~l~ a h~ tO ~ B°~ ~Ow or hereatter any polley ot lite insurance as addilioaal aeeuritr for
the indeDtedness seeured by thb mortpje, the mort~ator a~rces ao lon~ as a~y ot taid indebtedness remains unpa~d prompUy b pay all premiums on said
insurance when the nme beeome due and payable, and if the aame shall not be paid promplly the Bank maY W]~ ~ s~ w~~t waivia~ or aReetin~ lhe
optioa to toreclose or an7 risht Mreunder. and everr payment so made shail becoine a part ot the indebtcdncs~ secured bY ~is moHBa~e. u?d adall bear
lnterat Lrom'thc date ot paYment thercot at the nte pmvided in the promissory note seeured hercbY: ~ e~~P WY~t so made. and iaterest tAereon.
sball be rtpaid bY ~~pi~ to the Bank in weh manaer as tAe Baak sAaU reQuL'e.
To permit, commft oe a+ser ao waste. impairmcnt or deterioralion o1 ulo proDertr. or any P~ ~ upon the faUure ot t6e mo~ator to
keep t4e bulldiop on aaid property in ~ood eondltion of repair. the Bant inay demand t~e immed'ute repair oi taid buildinp, or aa increase In tAe
omount ot ~eeurity, pr the immediate reWYmeot ot tM deM hereby ~ecured and the tailure o[ tAe mort~a~or W eomply witA said demand. ot the Hank tor •
period ot thirty (~p) daps, shall eonstitule a breuh of this mortia~e. and at the option oi the Bank. inunMiately mature the cntire amwnt ot prineipal
and iMerest herebY accuced. and immedistely aad wittaut notiee. tAe Bank may ins4tute proceedinss to toreelox tAis mortpse snd apply [or the appoint-
ment Ot ~ Reeeiver. ~s hereinatter yrovided: and the Hank aAall have the ri~ht lo inspect the mortp=ed Premises to ascertain comDl'unce ~vith this eovenan~
7.. To perform, tompi~ writh and abide br each and everr the stipuLUons, aLreements, condltio~s u~d eovenints ia +aid promi~sot7 aole and this
morts~e deed ret Iorth_
8. If a+Ui ot tbe sums of money Aerein re[erred to be not pmmptlY and fuUy psid ~vilhin7D~Cda7~ Mzt alter tde ~ame xveraUr beeome due and
payable, or i[ e~ch and ever~ the slipulations, sjreements, conditions, and covenants oi said pranissory iwte and this mortiate, or eit6er, are not duly
perfprp~ed, cqnplied vith and abided E~, the ~~cpte sum mentiuned in aid promiuory note sha11 betome due and payabie torth~rith or thereatter at the
oDlion oi We Bank. as hillY and eomPletel7 as it said aureiate wm ot moneY wa ori~ina117 stiPulated lo be Pald on such day. anY~?+ni in said Promis-
wri note or dercin to tAe eontrary notwdhstandioj.
9. It is turther covenanted and a~reed b~ said partia that in the event M a mit bein~ instituted to foreclose thb mortp~e. the Bank ahaA be entiUed
to ~pplr at any tlme Deedi+?t suth foretlowre sult to We tourt havios Jurisdlction tAereot for the appointmeM of a reeeiver ot all and sinju~u the mort-
Qsged propertp. arni ot all tAe rcn4, incoma. ProHts. iawa and nvenues thereoi, trom ~rdatsoever souree derived: and thereupon it is herebY ~=P~IY
covenanted and asr~ed t6at tLe eourt shall forth~vith appoint a rceeiver o[ said mwtsased ProperlY. a11. and sinNlar, and ot weh rcnL, incomes. Prosts.
iseues and nvenue thereot zmm w~Aatsoever aouree derived, with t6e usual powen and dutip of reeeiven in like uses: and sue6 appointmenf shall be made
by sueh court as a matter ot strid ri~ht to the mort=asee. its weeesson. IKaI repmentatives or aasi~?s, and witbout rr[erence W the adequac7 or inadeVweY
of the value ot the propertr hereb7 ~~i~. or b the solveoey oc Insolvencp ot the mortpsor, aad Uut we!? rent, Dro6ti, i~wne. iswd aad rcvenuq
sRall De appLed br sueh r~celver W the paYment oi the a?ortp~e indebtednea. costs aed c6ar~es, ~ceordin~ W the order of aeh court.
11. That in lhe event the premises lureb~ mortsa~ed, or any part thereot, ahall be condemned and taken tor publie use under the powrer of emtnent
' domaln, tDe Hank shall Aave tbe risdt to dcmand that all damaSes awuded for the takins ot or dama~es to said premixs ahall be pald to the Bank up
~ to the amount then unpaid on this awrtsa[e and at the oDtton ot the Hank mar be applied upoo tbe pa7ment or paymeats last pa7able thereou.
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~ 12. The mortia~or binds himselt not to erect or permit to be ereeted anr new buildinp on the prrmises Aereln mortsa~ed or to add to or permit to be
~ added to any of t6e e:istin~ improvements thereon or maice anr ehanSes or altenUons in said improvemenb which materially chan~e the same or the use
~ thereol, ~iU?Qut We written rnnsent ot •.he Bank, and In the eveat of any violalion or attempt to violate this stipulation this mortsa~e and all suau
~ecured lxreby shall immcdiatdy bec~ome due and eollectible at the opUon oi the Bank.
; 13. It b speci6nlly asrced that time is of the easence of this contract and t~aY ao waiver of any obliption Mrcunder or oi the obliption secured
~ hereb~ shall at any Ume be held to be a waiver of the terms hereot or oi the instrument ieeured hereby
1~. If fomloaure proceedinp of any second mortaase or seeond trust deed or any )uaior lien ot any kind should be insUtuted, the Hank may, at
ib option, immediately or thereatter declare this mortp~e and the tndebtedness secured lxrcby due and payable fortAw~ith. and may at i4 option proeeed
to foreelwe this mortss~e.
IS. To the e:tent ot the indebtednas ot tAe mort~or to the Bank descriDed herein or seeurcd herebr the Bank is hercby subrosated lo lhe lien or
liens and W the rishts oi the ownen and holden thereot of each and every mortsage lien or other eneumbnnces on the tand deseribed herein whicd b
paid or satis6ed in whole or in part out of tM proeeeds ot lhe loan deseribed herein or tecured hereby, and lhe respective liens of said mort~ases. liens
or otber incumbran~es, shall be and t6e same and each ot them hereby is pmerved and shaL pass lo and be held by the Bant herein as aecuritr tor the
(ndebtedneas to the BanL Nerein deseribed or derebr seeured. to U?e samt e:tent that it would 6ave been pnxrved and would have been passed to ared
been held by tbe Ba[ik hsd it been duly and re~ulub aniLned, trans[erred, set over and delivered unto the Bank by separate deed of assianment, not-
~6e r~n tha~ the same may pe ptis6ed and caneelled ot record it being the intention ot tt~e parlies hereW that all prior encumbranches aill be
satisAed aad caneelled oi reeord Dy the holden thereot at or about tbe time of the recordins ot this morl~a~e, but that the Bank will nevertheless be
wbroptcd to the Uens theccoi as hereiaabove provided.
is. To p,r ~"yk ~~ie" of not lqs t6an =10.00 and not more than 12 ~ ot any installment payable br virtue ot t!?e said promiuor~ note or anr
~ Mpaymen~t
~ ajrtd~ ~der~ said installment or payment is not paid witkin 10 dars after the due date t6creot, tht amount o! ath
17. To par a11 and sinNlu the eosts. char~e+ u~d eapenses. includin~ lawr rer's tees. rcasonably incurred or paid at any time by lhe Bank. because of tAe
tailure oi lhe mortsasor b pertorm, comply wilh and ab~de br each and tvery the stipulations, a~reements, conditions and rnvenanLs ot uid promiswry aote
and this deed, or tither. u~d every sue6 paY~t shall bear inCeresL [rom dale at the rate bourne br tae principal indebtednes securcd derebr.
' 1!. It b ai*eed tAat this mort~a~e sAall sccuce anr tuture advances made by the Bank td the mortsa~or at any time wilhin twentr (ZO) ycan trom
~ tAe date 6ereot to the same e:tent as ii sucd [uWre sdvances wrere made on the date of tht t:ecution ot this mort~a~r, provided, ho~re~er, that the total
S unpaid Dalance ot the indebtednesc securM Dy this mortpse at any one time shall not e:ceed a maximum pri~ipal amount eqwl to 200 per cent ot the
~ prineipal amount ori~inaLy recured hercby, plus intercsi on such ma:imum prir~eipal amount a~d an7 disbursemen4 made tor the payment ot ta:a..levies
or insurance on 16e properlr eovercd b~ this mortpte. writ6 interest on such disbunemmtt.
~ 19. Whrn an7 an?ount oi mone~ to be paid br the Mort~a~or W the Mort=a ~ee under the lern?s dereot shall be in detault or slwul~d the Mort~a~or dctault
~ in an~ ot lhe other term~, provisions or cond~t~wu ot this 1[ort~aie, then and ~n that caae the 1[ortp~ee shall luve the ri~dt, wilAout not~ee to the Mortp~or,
~ to eollect ~nd reeeive tran anr tenant or lessee o[ said morlp~ed prcmises the rents, issues and pro6ts of lAe real esUte hereby mort~aQed and the ~m-
F provemenb thereo(. and to {ive proper reeeipls and acquittances lherctor, and atler payins all commissions o[ any rcnUl a~ent eolleetin~ the same, and anr
reasonable alWmeY s~~ and other necessary expenxs incurrcd in collect~n~ same, to apply lhe proceeds ot sueh collettions upon any indebledness, obtip-
tion or liabilitr, o[ the Mortp~or hereunder. The risht ~ranted the Mortpsee under tAia para~rapA ssap be in addRion to, and shall not IunU or reslrfet, at?r
other ri~dt or risAq sraatcd the Hortp=ee in this Hortsase.
S~ R~t ~~:D ~IO Ai~D BY I~E~3~ I~R~iDL A PART ~0~'.
~ 6~,lOK f'ALE 9~
~ Unrted Bus~ness Forms, I~t. _ ~
~ • . , - 1. ~ ;