HomeMy WebLinkAbout0966 trnilrr w tt?e \lort~;u~;~~e in accunlu~i~•r witli the pro~•i~ions of tl~~ not~~ srcured h~•r~•t,~•, full ps~'uii~ni of thc~
rnure indebtedn~•~s reprc~~t~ntrd ttit•reb~~, the ~tortKx~re, as trw;~•e. sl?Kll, in ~~on~},utuik ttie anu~unt of such
:ndebtrdne5s, crr~~it to thi• bc~•ount u( the \lortka~ur un~' crr~jit t;e?lence rrinainin~ uii~i~~r tlse pnn•isu,ns of (ai
of said paraKrapl? 2. lf tht~re~ ;hall 1,~• n~I~~fault un~ler ~u~}• of t}~t• pro~•~~ions of tf:,s t~iort~;a~;e r~~sultin~; in a
~ublic sale of t1~e prt~i~~ut~s co~•~rt~~i t~erc•1~~•, ur if tl?e `lortKa~;re ~?~•yuires thr arup~~rt~' uthe~rwise nft~~r ~It~fauit,
the `tort~agee, as trustre, shail appl~', at the tu~ie of the ~•o?i?n?enceii?ent i,( ~uc•ii pr~~~•~~r~l~n~;y or at th~~ tin~~~
tt~e propert~~ i.y otlier«~ise acyuired, t}?e amount then rt~i~iaininK ~o ~•redit of ~Iort~;aKur u~ui~~r (ai ~f ~u?ra~rapli °
prece~iin~; ea u rrt~dit on the interest a~•e~rur~1 and utspaul an~i tiie i~alance to th~• prwr~pal tiu•n r~'11~H1i11l1~! UIIP81tI .
on said note_
~lortgagor will pa}~ all :axes, :~srUm~nts, waler rates. ~uid uther gocernmental or rnunu•ipal rhar~es, tine•s. ur
impositions, for which pro~~sion has not been made hereiabefore, and in detault thereof the ~lortgagee may pey tAe
,ame; and.w~ill promptl~' defi~er the ofCic~al rece~p~~ thert~ior to tht• VortgaKet~.
\ic~rtga~;or ~vill permit, commtt, or suffer no «~.~tite. ~mF~airn~t~nt, c,r ~lt~tenuratu,n ~~f s,ud Eiro~~erty or
;iny ~~art thereof, c~~ce~~ reasonabte we~u ~uid t~~ar: :and in thr~ e~~•ent ~~f thc• iailure c>f the liortga~or co keep
:tZe h~~ildinQs c,n ;aid ~~rf~mtses and those to he t~rc~c~ted on s;ud premiscs, c>r ?mprovemencs thereon, in good
repair, the ~tort~agee may make ~u~~h repairs ;~s in its dic~•retion it may deem nc~essary for the prope•r
~~n~servation ihereot, and the full amount ~~f ~~ach anci e~~ery ;uch payment ,hatl k~c due and payaule thirty
i 3U 1 da~~s afier demand, ~uid shall h,~~ secured by the lien of this mort~a~e.
\(ortgagor µ~ill pa~~ all and sin~uiaz lhe cos[s, char~es. and expenses uicluding re~ssonable law~>~er's fet~s, ~nd custs ui
abstracts of tille, incurred or paid at an~~ time b~' the ~turt~ageP because uf the Cailure un the ~art ~~i the JiortQa~or
oromatl}• and full~~ to perform the a~reemenGs and cu~~~~ndnGs ~,i said promissor~~ n~te ar.d this mortga~e, and ~aid casts.
~•:~ar~es, <ind r~prn>es si~all tx~ ~mmediatel~~ due and pa~~able and sha11 be secured b~~ th~ litm of this m~~rt~aKe.
-\tort,agor w•~II cuntin~ousl~~ mainta~n hazard insurance, uf such t~•pe or t}~pes and amount~s as ~tort,agee ma~• trom
_:me ~o time re~quire, un the imnro~~enients now or hereafter on sa~d E~mmises. and except w•hen pa~~me~nt Pur all surh
~remiums hac cheretofore been made under ~a1 ~>f paraQraph '2 hereof, he she w•ifl pa}~ promptl~~ when dut~ an~~ prt~miums
~iierefur. All insurxnce shall be cartied in companies appro~rcl b~~ ~lortga~ee and !he o~licie~ and renew•als lhercof shall bc•
.rid ~tort,agee and hace attachE~d ihen~u, lo,s pa}~able ciaust~s ~n fa~or of and in form acceatablF~ tc~ the ~tort~agee. In
~~~:.~nt uf lers he she will ~ice immed~ate ilOIICP b~~ maii t~ ~lortgaget~, and hiortgagee ma~• make pro~>f c~f l~ns if n~~t made
;~romp[l~' b~~ ~Iortaagor, arid ~~ach insur3nce cc>mpam concerned is hereb~' au~horized and directed tu make pa}ment tor
uch loss directh• to Vortgagee instead uf to \lort~a~or and 3lortgagee ~ointl~-, and the insurance ~LUCE~~~ds. ur an~ part
'hf re~if, :na~~ he applied b. \tortqa~eE• at its option either to the reduction of ihe indebtedncss hereb}~ securc~d or to th~~
re~toration ~~r repair oC the propert} da?~iaged. :n t~~~ent ot foreclosure of this mort~aQe, ur other tran;fer oC title to the
•n~~rt~;aKed pruorrtt' in t~~tin~u~shment ol thE~ indebtedne~s ;ecured hereby, all right. title. ard i:it~~rest ~~t' ihc~ ~1ortQa~ur in
:!nd !o an~ ~nsurance oulici~~s then in force ,hall pass to the aurcha~t~r ur ~rantec~.
If thc, pr~~mist~s, ~~r a?~t~ part ihtr~~ut bt~ ~•~~tidt>mned ~:ndc>?- thc~ ~ow.~r ~~i f~mi~~t~nt domain, r~r
:icc~uirt~u fc>r a~~ublic ~ise, the d~?ma~c~s a~~~anled. [he~ ~r~>ct~ed~ for the taking of. ~~r th~~ cc~tis~deration t~~r
~ttch .icc~uisition, to the c>sient of t~e full am<~unt ~~f th~ rc~main~ii~ ut~~>aid indc~htf~dtl~;s se~curc~d h~~ thi~
:nurt~age, .u't~ 41t~reb~~ ass~~,med to the \Iort~a~c~e, and hi~ or i~c~n c~~ir~ c,r <~„~~;t~~. ~n~d shall hc~ ,~a~d
`c,rihwith to s~ud ~Iort~a~ee ~r hi: or nc~r ;LSSi~nec~ to hc~ a~plic~d ~~n acc•<~unt of thc~ iast maturin#~
~i~~tailmenGc of such indebtE~dnes~; providPd. however. the ~iort~;agee ~~r his or hE~2' a~tilt,Rle~~~. mav at h~~ or
':t~r discretzon pa}• dirt~~•t to ~he :~Iort~ak~r. nis c>r nrr hf~ir~ ~>r ~?.~sign5 any {~art ~~r all c~f .u~~h awaru:
'COV1C~PU, :fl'lI If 1}1k' l03I7 1~ F~U~1C:111i1't•d +%f lil>L{I'l'(1. ttlt' ('1~il~PSlL QI t~ll' 6(lllitFllli(1C (%C '.I~~lll't'I 1~ OOL:tlllf`(~1 Ill
:lC~\'~iil('E' ()f s<<~d F~aymt~[lt.
The ~lortgagee may, at any time PfIIC11DP, A:uit ~~c>on this ~~ortRage, appl}• to the court ha~•ing }urisdictian
~hemof for the nppoir.tment of a rece~ver, and ~~ich court shall forthwith appoint. a recei~•er of ihe prem?ses co~~ered
:;ereo~~ sit and singular, including ail and sin~ular the income, profits, i~ues. and re~•enues frnm whate~~er source
deri~•ed, each and e~~~r}• of which, it being expres~h• understooci, is nereb~• mort~ager~ ;~q if specifically set forth and
:escribed in the granting and haoendum clauses nerFOf. Such appointrnent ~hall be made b~• ~uch court as an admitted
~~~~u~tv sna a matt~r ot absoiute ri~ht to said ~1ortRsqee, and ~ti~ithrnit -~~ier~ncP to ti?e a~i~nt::ic}• or iQnder,u~c}• of
: e~~a~ue nf ,he propert~~ mortgaged or to the sol~•f•nc~ or iii~;~•~~~ne~• of said \IortRa~or or c:~e ~leie~riants. ~uch
:encs, prorita, ineome. i~ue9, and cevenues ~haii FSe :+.pplied b, ~uch n•cei~•er accorciinR .o the l~~n of this mart~lge
t ana the oractice of such court. In the eveot r.f an}• drfauit ~:n the nart of the ~I~,rtRaRor herr~ur.~~~r, tn~ \1ortQagor
; vgrees to pay to the ~tortRagee on demanr~ as a r~:~v>na~~le monthl~• r:~r.tai for thc~ prc•rnisc~s an aaic;~.:it at lcast
j equi~•aieni tu one-cwelfth (~j 2i of the aR~reRate of the LR'Plve monthh• installmf~nts oa~; at;ie in the tnen rurrent
~ ti~ear plus the actual amcunt of the annuai taxes, asses~ments, u~ater rates, and insurance premiums for auch year 1
~ot covered by the aforesaid monthly pa~•ments. {
1
In the event of anv b-each of this mortRage or default on the nart of the ~tortRaqor, or in the event that '
3nv of said sums of mone~~ herein referred to be not promptl~• and fulh• paid a~cor<~ine ~he tenor hereof, or in the
e.vent that each und every the stipuiations, aRreements. con~itiony. an~~ co.•enants ~i ~a?ri note ancf this mortqage,
are not duly, promptly, and fully performed; then in either or an~- sucn e~•ent, the sai~i ap,Ar~qate sum m~ntioned
in said note then remaininR unpaid, a~ith interest accrued to that timc~. and all m~me.s secur<~~! hereh~~, shall become
eiue and pa~~able forthR?th, or thereafter, st the option of saic: ~lortgagee, .as ful?v anci c~~inpietel~~ as if 911 of the
said suras of money were originatly stipulated to be naici on such dav, an~•thinq in ~ai~i n~ce or in this mortRage to
the contran• cotwithstandinR; and thereu~n nr thc~rF3fter, at ihe option of ~:ii~3 ~1nrtQaRee, ~a~ithout notice ~r
~:emand, s~iit at law or in equity, ma}~ ~ pro~cutE~~f as if ail m~~nc~:~s ~cure~i herc•i}•: ha~i mat~~r~~ p*ior to it9 institu-
~ion. `fhe ~tortRsgee ma~• ioreclose this m~~rtQa~e, as ±o the amnunt so cieclare~i due 9~d ~S~'Ah~P, and the said
iremises shail he ~ld to sati~f~• and pa}• the ~anie toqether w•~th costq. Pxpen~a. and allon•aneFa. tn c~.~e of partial
{oreclosure oi this morc~rage, the mortcLaRed prcmisea sha~l }~e ~!d suhject to the continuinR lien oi this mortRage
tor the amount of the debt not then due and unpaid. In sucn ca5e the prov~s?uns oi this pxragraph may nqai? be
aveited of thereaft,er from time to t?me hy the ~lortqaqee.
4. No waiver of any covenant herei~ or of the ooli~ation secured here~~~ shall at any time thereafcer be held
~o be a waiver of the terms hereof or of the not2 secured hereby.
The lien of this instrument ehall ren~ain in fuil forcQ and efifect riurinR an~• ,rx~~t~;nfm~•nc or extension of
~.he tiaie of payment of the indebtedness or any part thereof securecf hereb~•.
~ If the ~tortgaRor default in any of the co~~Pr,a~ts or sQreements c~otained hc~rF:n. or in said note, then the
viortgag~e mey perform the eame, and ail expend~tures 1~ncluding re~sona~ie attorney s fees ~ rna~te by the biortQaQee
ir. so ~~oin~; shall ciraw• interest at the rate nrm•ufr~i ;~r ~?i th~ nrin~~pnl in~it~bt~~in~ss, and ~hall be rc~nt~~•able
thir~v ':30i cia~~s af[er i~eman<i, an~l, to~ether with intere•st an~l ~os~~ a~•crucvi thereon, shall be secured bv
~~~s mort,~a~e. -
i'~;on the renuest ot th~ ~fort~a~ee the ~t~rt~a~or ~naii c•secut~~ an~i ~ic~ii~•cr a siippl~~m~~ntul note or
aotrs `or the siim ~r sums au~~ancc~~l bti• tt~e ~i~rt~x~~e i~~r ihc• aiteration, modernir.atio?i, impru~-~~mc~nt, mnin-
nar~~ e. or repa~~ of caid premises, for taxc•~ or as~~~~~mr~nt~ xkairst th~~ ~am~~ xn~~ f~~r aar othe~r pur~~<»c author-
ir.r~~t t:ereun~ler. `~aic1 note or note~s shail he <<~cur~~l hcrei,r nn a parit~• «~ith nn~l as full~• as !he a~l~~anec
~~lenced tt:erebv w•ere inciuded in the note r~~t ~ie~r;f,~~i af~~.-~~. ~a~~i fnppi~~m~~ntal notF~ ~r ?~trs shall hear
:nterest at the rQte oro~•?ded for in the pr~nc~pal in~lei~tecjne~~s un~i st~all },e pa~•xblc in approrimat~=I~• cquai
monehli~ pa~m~nts for such period as m~~ be a~;reid upon h~• che c•reclitor anci debtor. Failin~; 1o a~rec on thc~
:natun[y, the whoie of the sum or sums so a~l~-ancc~l shn{i bc ~iuc IIil(~ OS~'P_I~Ic thirt~• ;3f1 i ~Javs nfter de~mand
hv the creditor. In no eveQt shall Che ma~urit~• extend be~-ond the ultirnate r.~etunt~• of tlie n~te tirsc
:?escribed ebove.
;G~K 5U5 ~