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HomeMy WebLinkAbout1951 _ . _ _ _ _ _ - _ . 8 R!( ~10~ f~bCt ~5~ . And •~fd N4ortqpon, (o~ them:~iv~+ +nd tMtr h~in, 1a9~1 riprt~snl~tiw~, ~utc~~tion ar~d aui9n~, M?~by ~otMly t~d Mvsrslly townanl •nd pri~ ro~~d with tP» uk! MORTGAGEE, It~ wtctssor~ snd a~~iQnt~ • 1. To p~y +il •nd ~{npul~r 1h~ p~indp~l and interest ~t?d tt+~ variovf ~nd ~vndry ~ume of mon~y p~yabla by virfva of t~W promt~ary r+ot~, +nd thh mo~tp~qt, ucA ~nd ewry, promPtly on ~M d~y~ r~tipectiYely tM •~mt s~vtr~lly Mcom~ dvo. 2. To p~y ~il and ~l~+gul~r tha 1+xet, asse~smtnh, lavie~, Ii~bUitNs, obllQatla++~ ~nd i~tumbanca of ~very nalwe and kind now or~ ~ifd dt~triMd p~operty, a that hsftair~r m~y bs imposed, •ut(ered, pl~ced, Iwia~, or aaai~d therao~, or tMl Mre~ilsr may M Isvied a~~s~:d upoh tfi(a Mw1g- ~9s, w iM k?debtednes~ aecured F+sreby. each and ~very, wlan dw ~nd payable, ~ccordin4 ro t~w, btfa~ Ihey betoma d+linqvsnt, N1d M}Of~ ~flY Ml~r~st att~chet or ~ny pen+l~y t~ Incurred; ANO INSOfAR AS ANY THEREOF IS 03 RKORD THE SAME SHAIt SE PRONIPTIY SATISfIEO ANO DISCHARGEq OF RECORD AND THE ORIGINAI OFfIC1Al DOCUMENT (SUCH AS. FOR INSTANCE. THE TAX RECEIPT OR 1HE SAi1SFAC110N PAPER OfftClAltY ENDORSEO OR CERTIFIED) SHAII BE PIACE~ IN THE HANDS Of S/11D MORTGAGEE WiTHIN TEN DAYS NEXT AFIER PAYMFNT, and f~ tM ~wnt tMt s~y Ih~rtoi i~ ~01 paid, 3~t~tfied ~nd dischatq~d ~~id MORTGAGfE m~y st eny tim~ p~y Ih~ ~~rt» w s~y Wtt tMr~aF wilhotrt walviny or •((Ktiny a~y opilon, I(tn. ~qutfy a~ ripht ~ndar cr by virtw oi ihit mor~yay~ •n~ the fuil emcunt oi euh and ~vtry ~uth ptyrn~nt ~h~ll b~ (mmedia~tly d~~ ~nd psyabl~ and ahdl be~r fnt~rs~t ~rom the ds~e ~he~eof ~nlii p~id al rats of tiyM pat ctntvm p~r :nnu~ •nd tog~1M~ witA ~uth int~resr ~MII b~ secured by the Itsn o1 th:f morptap+. y. To pl~a M+d, ooi+fin~ovNy l~Np on th~ butldirqe now or I+er~aft~t ~iW~N aw alr 1~ad ~nd on ~!1 ~qviprtwe+t ~nd parsor+~llr tov~r~d by tfitt mortp- ~ _ p~, wtth •1! prtmtum~ thsrNn p+td in fvll, fl~~ inwr~na M tM wud ~tar+d~rd oolky fMpb M~ ~un+ tpp~'owd bY t1+f MORTGA~iEEE, and wt~dstorm in~n~na M tM uowi ~~~ridud polky form, In •~um approv~d by tM NWRTGAGEE, (e wch company or ton+p+nl~f N tM AWRTGAGfE n+ay dlr~ci~ a+d ~II f(r• ~nd windNofm huw~nc~ polkle~ on ~ny of eaid bulldirg~, ar~y MNrat then~~ or p~rt tMrwf. On flt~ pqrtqal~ s~m aFort~~id or k+ ~xnu therool, ~hsll ca~rain tM wwl ~tanc3~rd mortp~ cl~ws or sVCh otMr clw~ a tM Mw1yay~~ may ~~qvlrt, n+akinq tM toia v~der ~~id poll- da, ~ach and~ w~ry, pay~bl~ ro ssW MORTGAGEE ~f itf inf~reft m~y sp~ar, arod eash aed ~wr~r ~uch policy ~hall b~ promptly ru:qMd ~+d d+~~vo?~d to ~ny Mid by aId MORTGAGEE a~ furthe? security to saW mor+p+ye d~bt, ~nd, not 1~ tMn ten p0) day~ in adv~nc~ oi th~ •xptnti«+ o~ Nch poiky, to dr . Iivtr fo ~afd MORTGAGEE • renaw~l thercof, toy~tMr wlPk a rxtipf for th~ prsmlum of wth rtnewalj and tMre thall b~ no fir~ o~ windttan? Inwrant~ plac.d on ~r,y of :.W bvtldrey., •ny Mtere~t ther~In a part th~r~f, vnl:fs In tM form and wlth tM loe~ pay~blt a•fon~+id~ and M tho wtnt ~ny svm of monsy b~tamn p+ysbl~ und« ~uch poiky or policis9 iaid MOR7GAGEE shall Mw tM optia+ to ?etaiw and apply tM um~ on xwunt of tM Indebted- n~q ~ecurtd Mreby a fo p~rmit taW MORTGAGORS to rec~iw and u~t H a any p~rt therao( fw o~he~ purpoie~, wilhout ther~by wilviny a imp~ir• k+y any pvtry, Itsn or riqh~ unde~ a by virtw of this mor1Q~~~ ~ed M tl» ~wnt aid MORTGIIGORS s1?aU for ~ny re~wn fdl to kesp fF+~ sitd pr~+nl~a~ w • kuur~d, or fNl to delive~ promptly ~ny of satd poikk~ of iruvranc~ to uid MORTGAGEE, a tail promp~ty to pay ful~y arty pr~+i+tvni tMr~fa or In ~~y ra~pect f~il to p~rfwm, di~charpe, ezecvt~, ~ff~ct, compl~N, comply wlth snd abld~ by thts cownant, or any pan h~r~of, ~ald MORiGAGEE may pl~c~ and - par Ior s~ch Inw~+ne~ ar ~ey p+~t tMrsof withoo! waivMp or ~ffecting •ny optia+, INn, pvity, or ~i9ht ur+de~ a by virtw of thti Morty~y~, snd tha• fvll amovnt ot ~ach ~nd wtry ~~ch payrrKnt shall bs immedi~tely dus and p~y~bl~ ~nd ~hall bstr Ml~rs~t from tM dete thenof w+tll p~{d el tM r~t~ sf nkw p~r c~ntvm p~r ~nnvn+ ~nd rogatFar wlth ~uct~ lnterest shall b~ sacvred by tM It~e? of tfit~ mortpsye. ~1. To p~rmit, oommM a suffer e+o w+sh, imp~irment a d~t~?brdion of oald p?op~Hy or ~ny pari tl+trwF. S. Io pay all end ~h+pvlN Hw caM, charpee ead ~xp~nu~, I+xludinQ ~ nawn~bt~ •tton+~y'• fN snd co~ts of sMtractt of tTtl~, incvn~d or p~td ~t , ~ny tim~ by ~aW MORTGAGEE, Mc~uw or M tM ~ven~ of tM fatlur~ on tM Wrt of tM ~.id MORTGAGOR ro dufy, promptiy ~nd fvlFy p.rfam, diKh•rpw - ~x~cute, effea, compSet~, oomply with and +bide by each ~nd ~vtry th~ ~tipul~tio~u, pr~+n4tnn. co~dilbm~ tn~I tOVlM~ti Of NId RfWftl~lOfy e101! ~nd th8 morty~gf rny or •(ther, •nd ~~id costs, charye~ •n~ exp~nos~, ~+ch ~nd ~wryr, ~MII M lmmtdiately dv~ ~nd piy~bt~~ wMtl+~r or not th.ra be natk~ dr mand, aHempt to colled or tuit pendi~+yt and Ihe fuil amount of ssch +r?d twry ~uch paymsnl ~hall bs~r intere~t from tM dst• iMrtof until paid ~t tM rats of nine per cen?um p~~ snnumj and •II ~aid cosu, charpe~ and expeme~ intvrnd a pald, top~tMr with ~uch Int~n:~, shall ba astured by tM ikn of thi~ , Y mdfya~~. ' 6. That In tM ~wnt of sny breacfi of thti Morty~a or dehutt on th~ paA of tM MORTGAGOR, or (b) In tM went ~ny of saFd wms of morwy - : h~n(n tsfsrrtd Io be na~ promptly and fvlly petd within thirty (30) days nex~ ah~r th~ ~~rr» ~evsrally become dv! an~ p~y~bl~, withovt d~mand or notit~, or (d in th~ ~vent •~ch ~nd wery tM ~NpolNtor,~, eyr~art+~nt~, condUtons ~I1CI COV~M11~1 Of ~eid promtsary no1~ ~nd thio mwipaqe ~ ct ~Ulnr ~n nsA ~~ty, pranptly •nd fuity p~rform~d, d~tcharfled, execvted, iff~ctrd, compi~ted, eampli~d with •nd ~bided by. tl+~n in ~itMr or +~ny ~uch wteN tM ~aid a¢ preQaff ~um menlloned in uW promit~ory not~ then rem~lninp unp~id, with tnt~n~t ~ccrwd, and ~!I mon~y~ ~rcured t?~rtby, ~Mfl bewme dva ~nd payr ~hl• fohhwhh, a tMrs~ft~r, ~t tM optto~ o~ ~aid MORTGAGEE, a~ fully end compi~qly ai If all of tM said avmi of moMy wer~ ori9lnaliy ~1ip~l~ted to b~ paW on i~ch day, x~ythtrtq in Nid promt~~ory noia or in thb N4ortpaQ~ Io th~ tonir~ry nutwkMt~edi~+yt ~nd thfnupoe ot tMn~R~r at the aption of •aid MORTGAGEE, withovt notiu a demand, wH ~t I~w or in sqvity, 1Mrofon or tMre~R~r bp~m, mey b~ pros~cut~d a H~II n~or~ri pcur~d her~by Md matwed prtor to M~ imtit~tio~. ' 7. TMt In tM oveM that ~t tM be9~n~tr?p of or •t any time pendi»p i~ry w1t upon thh Mortp+ys, or to fwrclaa it, or to roforen M, o~ to Qnforce p~ym*nt of ~ny elatms Mrwnd~r, sald MORTGAGEE :h~ll ~pply to th~ Covrt Mrtevp (t+rkdkt{on tl+erwi fot tM appointrtwnt of a Recriv~r, t~ch Court ~heN forthwith ~ppoint a raeslv~r of saW mort9~yed property all and ~tnpvlar, lncl~din~ ~it and ~Frs9vl~r tM tncome. Profit~.. b~vn ~nd nv~nw• fran wh~t~vK ~ovrco d~rived, e~ch and ~wry of which, it b+iny ~xpre?ily und~r:tood, h Mraby ~e~9+Q~d s~ ~f W~u(k~~~Y s~t fwth ~nd ds~crib~d tn th~ prantirp ~rrd Mb~ndum d~vs~s h+reof~ 0?KI Y4C11 RKf1Ylf itL~Il I~V~ •II th~ broad and eff~ctiw functieea ~nd powKS fn ~nywtss ~ntrvsied by ~ Govrt to + Rec~lwr. ~nd wch •ppotrorrknl ~MII b~ mad~ by ~uch tourt an ~dmftted equity ~nd • mstt~r of abwlvts ripM fo ~sid MORTGAGEE, ~nd withovt nfsr~na fo tM ~dpuscy w!nuleqv~ty of tM v~lw of th* properry mortpp~d or fo tM wNentY a inwiwnty of ~aM MORiGRGOR a tM d~hndanH, k+d tFut ivth nnt~, profin, irxom~, bsun and f~VMY1i sMll b~ appll~d by such R~uivw rcoordihp ro tM tNn o? ~qulty of uW MORTGAGEE av~d tM pr~etla af wch Court. i S. To duly, promptly end fuNr p~rfam, dtscharp~, exetufs, ~ffed, compkt~, wrt?ply witfi and abtd~ by each end w~ry tF?~ ~tipul~tlora, pn~ment~, oonditbru K?d cov~noeH in said promiiwry nm~ and this mortpay~ s.r forrh. 9. TMt in tM ov~nt tM vwnenhlp of thr rnortyeped premtst~, or +ny pKt tMrwf, becoma+ vssttd tn a perw~ ath~r than th+ MORTGAGOR, tM _ MORTGAGEE, N~ wecesion snd +s~iyn~, m~y, wi~hout noriu ro the MORTGAOR, da~l with ~uch wee+swr a wccesw. in lrs~~rnt :.-:t~ :'.o:o:xa to thi~ mortqps end tM debt Mr~br att~r~d tn tM ~srtN mannsr as whh Mortyeqor wNhovt fn ~ny .w~r vNiatinp a diuharylrp the Mort~~yort' tlablfit~ ha~ undsr or upon tM d~bt Mr~by secured. No sal~ of tM pnml~ Mr~ mortpaq~d and no forbe~r~nu on tM pan o} th~ NWRTGAGEE or i» wcceseon ~_•H ~n• snd no ~xtsrroion of tM th»~ iw tM peym~nt of tl,~ deM F»nby Newed ~iwn by th~ MORTGAGEE a th wooa~on a asiq~+a, oMll op~rst~ d~ modih ch~^p~ or aff~ct tM oriytr?ai ii~li+iity oi i~ ii~+~'•••••••" !R ~•~,d. er 1n art. 10 nINM. . ~.~..w,. :3~Y 10. it k ap~dfkally pn~d lhat Nn» i~ of tM sat~nu of tMt eonhset and tM1 no wdwt of ~e+y obiq~tbn her~und~r or of t!M obllpation t~• q+r~d i~~bp ~MII o! K?y Nm~ tMr~aftsr ~ l+rtd to b~ ~ wNwr of tFN tsnrw !»?rof et d tiw katrwn~M Mtur~d habp. i l. tn ,dd#tsor, to rh. (o.w~+4 ~*+~+Mr wrr+.nro of prl~e Pal ,nd k+ts~..e r.quk.d tqr th. pran:..ory rno+• ..a,nd ?nnbr, ~+6~ Md prrp fo phr fo enaqep+~ whF? ~aeh mor+thlY P~Y~M ~n ~ddMion~l wm Mtl~v?a»d bp n+oH~opN to b~ pWl b i/lZ af fM M+eu~f oo~t of tM hlbw- - _a.....___M+O~_ . _,_....~.T_......-.-.,-..,..... - ~ . ~ ' ~ . ~ . ~ . ~ • . . . , . ~ . . ~~f . ' . . - , • ; • , . , ~ . . ~ • • ~ ~ ' ' . . , , ~ t • ' _ ; . . • - ; . . ~ , , i . • ~ - i • ' ' - . . . , , { " , ' i . . ? . • - ~ . . . ' _ . ~ : - • ' _ ' y, ` - . ' . • ~ .