HomeMy WebLinkAbout2293 :ui~i ;h:~il ~luly ii;,nn, r~~ni~~ly ~~ith :u~J :~Li~l~• I~~ ~:~rfi anJ r~~rry Uu• stil~ul:iliun,, romlitiuus, :in~l ro~•~•nunts o( s:ii~i promi;sury
notr :uul ul thi; niuri};:ii:r, lhw~ thi; iu~~rt~;u,;r :ii!~l lh~• ~•;l;~lr ht~rrl~y cr~•al~~l shuU c~~a,c :uid bo null xnd ~~oid.
[t i, un~l~v.tu~xt thal th~~ ~~•onl "marl~,:iE;ur;," wh~~th~~r in Uu• tiin~;ulur ur plurul :u~ywhcre in this nr_~rty,<<~~;e, shnil be
singul:u• if wir ui~ly :u~d ;h:ill 1~~~ plurnl juintly :uul s,~vrrally if uiutr lh:u~ on~•, and Uiat the word "their" us usc~cl unyH•here in
this mort~;~y;c sh:ill b~~ lak~~n lu ~n~~an hi~, hrr ur it:;, ~~•hrr~r~•~~r lhc co~it~~xl so implies nr tulmiL~.
:lt~t3 ~l~zi•t};~t~;i~~• ; t:z~~•z!?y juitZ#1~~ ~~~~cl : ~~~z~~•.sll; c:~v~s~:s~~t ~t~d asnt•ce t~~ ~,nc1 witl~ t.lie Mni•trca~ee :
1. 7'u p:~y nll and sinfiulur the principal aud iutc~n•;t :uod the ~:~rious nnd : undry sunu of money p,~ynble by virWe of
said E~roiuissor~• notr aiid this n~urt~;~i}~e, rach nnd c~~i~ry~ prumpUy on thc ~lays respectively the s~ime severully become due. The
1lturt~;a};ri• ur.iy ruUrct a"latr ch~r~~~" not to ~~xri•~~~I u~~ anu~unl cq~ui! to lw~o pcr ccntum ('L~'/r•1 uf <iny in5la11menL uf thc note
hc•rrby secur~~d ~~•hirh is nut p:~i~l ~~•ithin fift~~~~u ~ 15) ~L•iy, :iftar thc duc d,ite thereul to cc~ver lhe extru expense in~~ul~~ed in
handlin~; ~ielinquent paymenis.
2. To pay ~~~h~~n due :?nd ~ti~ithout rcquiri~~~; :iny noticc~ [ron~ ilnrl~a~ec :ill and sin~ult?r thc tc?xes, ~tsticssments, levies,
obligatiu?L, and inrumbrancas of c~~~rry natur~~ xnd kind no~~~ on s.?ia d~~scritKVl pmperty, nnd/or that hercatter muy be im-
po,~~d. suffcrrd. PLirc~l, Ir~~i~•d or :?.,scs~~d themupuu, an~Vor tl~al hen:ittcr nr.?y be li•vicd or ~?ssessed upon this mort~;e},•e
' .incL~or thr iud~~Ltivlnc~.;s srcun~i hemby, i~arh ~uul ~•v~•ry, and in,:,far as any ther~o[ is of r~~enrd the same shull bc promptly
satisfi~~l .ind dischar~;~~i uf iicoiYl ~uul tl?e uri~;in:il ufficial ~locumenl (sucl~ iLS~ for instance, the tux receipt or the satisfaction
p:?per officinlly rn~lursed or certified) shal! be pluced in the h.uid~ of s.iid Diurt~~i~;ee ~vit}iin ten d<iys next aftei• p~yment.
3. T~~ kecp the impro~•enu~nls nc~~~• exititin~; or herr;iftrr erect~xl un thr mort~;a~;ed property, .~nd thf~ equipment v~d
pirs~~n<ilty cu~~c~rr~l Ly thi, \lort~:?~;i, instn•ed us ma}• Ur requir~~d from tiine lu time bp thi~ htort~;u~;ce s?~uinst loss by fire, ex-
te»d~d co~~e~.ig~ and surh other Irizards, c:~sualtirs and contin};enci~•; .u nr.iy be rryuire~l by \lurt{;u~;ee ttnd ~ti~il) puy pi,~n~ptly,
wh~~n ilue, .in~• preiniunu on such ia,urnnrc•. All insui.~ncr shs~ll I~e in furin :ind umuunts satisfactury tu, aud in insuranee com-
(~anir~ appro~~ed b~~ the ~io~•t~;.?~ee, an~l Ih~~ p~lici~~; :uid rene~~~.~ls thercoC sh.?11 Ln c~ld by ~iort~;afice .u~d huve uttuchc~l thcreto
Io:;~, p:~ya61~~ cL•u~;rs iu fci~~ur of .tnd in f<~rm acceptable to /he 11urt};.~~~~e. In r~•c~nt of luss the ~ic~rt~;u~;or; n•ill ~;ive iinmcdiatr
notirr by m:?il tu \lurt~;:~};ec, un~l 11lort~;u~e~ m.iy makr pruuf uf lo:s i[ not m:tde prumptly by 11ori~a~ors, and each insurance
company ~•onc~rrni~d is hereby :wthuriz~~d •?nd direete~i to make~ pa~•ment !or such 10~5 directly to ~Sort~;xfiee instexd of to
\tortfi:i~ur, and ~lurt~;a~;ec jointly, nmi thr insut:uic~ pruce~~els, or anp purt thrreof, niay lx: upplied by \tort~agee at its option
cither tu thc~ n~durtiun uf the indcbt~~dni~ss hcr~~by ~ecur~vl ur to the restor.?tion or repuir of the property d,imaged. In eeent
of foreclosurc uf this mort~;aqe or other tr:insf~~r uf tillc~ to the mort~afied pruperty in extin~;uishmrnt of the ind^btedness
se.urc~l hereby, all ri~;ht, title, and intrr~sl of th~~ 111ort~;a~;ors in tu anp i~uur.ince policies then in force sh.ill ~~aiss to the pur-
chaset or rr:u~t~ e.
d. To rnmove or demolish no buildin~ on said premises withuut the K•ritten ronsent of the .liort~;agee; to permit, c~>m- ~
~nit or suffc~r no w.iste, i?npairment or detei•ior.itio~i of said property ur xny purt there~>f .inil to keep thc same xn~l impro~~e- 3
mrnts thcrcon in ~oal condition and repair. `
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5. To pay all and singular the costs, charRes and expenses, includin~; reasonable la~eyer's fees, lawyer's disbursements
and cost of zb~tracts of title, incurred or paid .?t s~ny tin~e by the 11Sortgagre because of the failure on the part of the ~fortga-
gors to duly ~ rfonn, comply with fln~ abide by each ~aid every the stipalations, conditions and covenants of said promissory
note <uid this mortgage, ~ny or either.
G. Th~et in the e~~ent the ~fortgt?gors fail to pay or discharge said taxes, assessments, liens and incumbrances, or said ~
costs, charges and expenses, or fai! to keep said premises insured or to deliver the policies, premiums paid, or fail to repair the ~
said preniises, a, herein agr~c~l, the biortgagee is hereby authorized at its rlection to pxy and/or discharge said taxes, assess- :
ments, liens vid incumbrances or any part thereof, to ~ay s<iid costs, char~;es and expenses, to proeure and p~y for such in-
surance or to make and pay for such repairs, ~eithoat an~• oLli{;ation on its psrt to determine the ~•alidit~~ or necessity of any ~
thereof and without the h~urtgagce waivin~; or uffectin~ u~y option, licn, eyuity or ri~ht under or bp virtue of this mort~a~e; ~
xnd the ful! timount uf each and e~~ery such payment shall be i~nmediutely due and puyable ~nd shall ber~r interest from the
date thereuf until puid at the rate of eight per centum per <~nnun~, und, together with such intet~:~t, sh=tll be secured bp thc
. lien of this mort~age; but nothin~ herein contain~~l shall be cunstn~ed as rec;uiring the Diortgager to advanee or spend moneys
for any of the purposes in this parigr?ph meniionc~l.
7. That (a) in the event af any breach of this mortgxKe or default on the part of the 1lortgagoi•s, oi• {b) in the e~~ent ;
anY of sfsid stnns of maiey herein referred to be not promptly an~~ fully pai~ ~viihin fi[teen duys next after the same severally be-
come due and payable, without demand or notice, or (c) in t}ie event each and e~•ery the stipulations, conditions and covenants
ot said promissory note and this mortgage, any or either, are not duly performcxi, con~plied with and abided by; then, in either
or any such event, the sxid aggrc:gate sum mentioned in said promissory note then remaining unpaid, with interest accrued,
and all moneys secured hereby, shall Lecome due and payaLle forth«•ith, or thereafter, at ihe option of said ~~ortgagee, as fully
and cmnpletely as if all of the aaid sums of money were originally stipulateci to be paid on such day, anything in said promis-
sory note or in this mortgage to the contrary notwithst~indinR; and thereupon or theret?fter, at the option of the biui•.gagee,
without notice or demand, suit at law or in equity, theretofore or themafter begun, may be prosecuted as if all n~oneys
securc~l hereby had matured p~~or to its institution.
8. That if any suit shall be instituteci t~ foredose or refonn this tnoM~;age ar.d/or to enforce payment of any claims
hereunder, the hiortgagee shall be entitled to apply at any time pending such su~t, to the Court having jurisdiction thereof, ~
tor the appointment of a Receiver of the mortgaged propert~~ and of •ill and si~~;;ular thc rents, inrome, profits, issues and ;
revenue~ thereof from whatever source derived, each and every of w~hich •?re expressly mortgaged by this instrument; and '
it is hereby expressly covenanted and agreecl that thereupon such Court shall forth~vith appoint a Re~eiver of said mort~aged
property, and of all and singular the rents, income, profits, issues and revenues themof fram whatever source deri~~ed. ~vith the
usual powers and duties of receiverx in like cases; and such appointment shall be made as a matter of strict right to the
Mortgagee, and without refererce to the adequacy or ins~i?qu•~cy of khe value of the property hereby mortgaged, or to the
solvency or insolvency of the Mortgagors.
9. That MortgaRors hereby asgign, transfer and set over to blortgagee, up to the amount of the totul indebtednes3
securecl hereby, a? awxrds of damages in connection ~vith the condemnation of any of said property for public use or for injury
to any part thereof, and the proceecis of all such a«•nrds, nfter payment of all reasonable expenses incurred, includinR fees
for attorneys representing I?Sortgagee in any proceeding in which xny such award is made, shall be paid to lfortgagee to be ;
applied upon the indebtedness hereunder in such manner as Mortgagee may elect. ;
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l0. Thnt time is of the essence of this contract und no waivet of any obligation hereunder or of the obligation secured ~
hereby shall at any time thereafter be held to be a wai~er of the terms hereof or of the note secured hereby.
11. Without affecting the liability of any person (other than any person released pursuant hereto) for payment of
any indeLtedness secnred hereby, and without affectinR the priority or extent of the lien hereof upon any pmperty not speci-
fically released pursuAnt hereto, Mottgagee may at any time and from time to time, without notice and without limitation as
to any legal right or privilege of Mortgagee:
(a) Release any person liable for payment of any indebtedness secured hereby; (b) Extend the time or aRree to
alter the tenns of p.iyment of any of the indebtedness; (c) Accept additional security of any kind; (d) Release any property
securing the indebtcdness; (e) Consent to the creation of any easement on or over the premises.or any covenants restrictin~
use or occapancy thereof.
12. Tu duly perforni, comply with and abide by each and every the stipulations, conditions and covenants in said prum- j
iasory note and in this mortqage set forth. ' `
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13. As additional aecurity the htortgagors do her~by transfer, assign and set over to the s~iid Dfortgagee, its succes- ~
sors or tissi~,rns, any and all rents now due, or to become due, on the above describeci premises or any separate rental premise i
appurtenant thereto, which are situated on the land above described; such rents to be collected b~~ or at the direction of the j
biurtgagee, its successors ar assiRns, and the net proceeds thereof to be applied to the indebtedness hereinbefore secur.~l, 13 RRd ~
when the same shall become due and payaLle; ~uid for the purpase of carryin~ out this provision the lfortgagois do by these ~
presents, con,tilUte and appuint said hiortgagee, or the successor3 or assigns of the said biori~a~ee, as his, her or their true
and lawful attorney-in-fact, to coltect any ~nd all rents fur said above described premises, expressly authorizin~,r the biortga- ~
gee or its successors or assi~ns to receipt tenants therefor, and do by these presents ratify .md confirm any and all acts of
said attorney-in-fact in relation to the foreRoing power. ~
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