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Home My WebLink About0959 ~ 11 iN ot iny p~h ol ihs Prop~riy or ~n Inttn~llA~~~1~ it iold a Inn~tuad by Mo~lpapa wllhoul Mo~lpaqee'a p~1a wd~lsn co~s~~1, exciudlnq ~y + tM cr~~ibn ol ~ Nen a~nwmb~s~ ~ubordlnalo lo fhis Malpsqe, (b~ IM c~~~tlon a~ s pwcAps~ ma?~y ~~cu~Ny Inlar~sl la hiwsuhald sppUanc~~. ~c) • hansfu by dwly~, d~~c~nf a op~rallo~ ol Nw uponlh~ d~alh ol ~}oln,l i~nant a(~ Ih~ prMl ol an~r N~Nhold Nlersst ol lh~ea yeai~ o~ le~s not Conlalnlnp ~n oplbn lo putchss0. Malp~pa m~y?, st Mo~lpapse'~ opllo~ d~clan ~N Ih~ wm~ s~cw~d by Ipls Matlpape to b~ Imm~dl~lely due ~nd p~y~ble. Malps9e• shaN Mv~ w~lvsd ~uch oplbn lo accaloiol~ 11, p~la ta Ihe sal~ a l~ansl~r, Mort~~p~~ ~nd Iho p~son lo wAom Ihe P~oputy Is lo be soW or Iran~ferr~d reacA ~p~~~mant le w~i1Nw tA~t tM credit of wch p~raon b sa{!sl~ctory to Malqapee ~nd Ih'sl lh~ Mt~r~~l paysble on Ihe sums secwad by Ihls MoA9sq~ shall bo ~1 wch ~at~ Mv~l~s~~~ sh~ll ~~qu~sl. ll Maiyp~~ Ms w~IvW IM oplloo to accsl~rN~ provkiod In Ihl~ p~rNpr~ph ~1. ~nd 11 Monp~pae'~ euccattor N? ~:3~as! l~=:x~zlo~! e~tNlen aes~~n~+lt~n ~gr~emw fl1 ~c~plyd In ~ItInQ ~y MoripaQe~. MwlOsoa~ ah~U aNat~ Mortpapa from ~U oWioaUona uod~r Ihia Not~ ~nd Ma1p~Q~. 6. Thal M Ihs ~ven! ol a wlt belnp Mslllul8d to iwectos~ Ih{~ moAQeq0. ~h~ Male~pe~;hall M enlltkd Iq ~pply et sny time dur~np sucA foreclosu~~ ~ufl fo ih~ courl h~vfn~ turbdktlat Iher~ol fa !he appolnlm~M ol ~ recelver ol ~M u?d sl~pular IM motipaQsd propeAy. ~nd ol aN rsnl~. Irtcom~t, prolitt~ Iswei ~nd ~evs~u~i Ihe~~ol.lrom wh~tsoever apu~c~ derbed; ~nd tAerwpo~? N b he~sMr exp~oa~ty conve~antsd ~~?d agread Ihal Ihe couh thaN laihwiih ~p~ polnl such rec~lver wilh Ihe usuat powen a~d dutNs ot recelven in Nke Cat~0. ~d a~d aPpolnlmenl shaN b~ made by Ihs cowl as ~ maller ol slrlcl iiphl lo Ihe Matpapo~, ~nd witt~oul reterencs to ihe pdequscy a to~de~quacy at lh~ vNw ol lhe~xope~iy ho~eby mat~a9e~d o~ to Iha soHSncy ~ ineokency ol lh• Ma19apa a ~ny o1M~ party delendant to such sul~ Ths Mortfl~pa he~eby apeNlicaNy w~ive~ Ihs ri~hi lo oWe~l to the appolntmenl of s recelvar ~s ~la~s~td ~~d her~by ezpre~iN con~etols qal wch appolnlmsnl ~1?aH b~ msde w~~ ~dmilled eqully ~nd p~ ~ maller ol absolule ~lyhl lo Ihe Morlp~p~s ~nd Ihal Ih~ tame moy be doM wilhoul nolk~ to th~ MatpaQor. 0. That H~ny proce~dl~ys should M I~stllutedaQ ~Nul Ih~ p~openy covered by Ihla matflspe upon any olhar lien a c1a1m whelher superlor or ~unior to Ih~ It~n M tAls mortqsQ~. lAe Mal~s~ee m~y ~l (Is optton immedialsty upon insUtutton of ~uch suR ot durlrp Ihe pendancy Ihareol decla~e this malpsp~ and th~i lr~d~blMdnsss secwsd hereby due and pay~ble lathwllh and m~y N Ils oplion qocead lo laeclose Ihls malyapa - 7. To paY ~q a~dsln~ular Ihs oosts. feea, cAs~4es and sxpe~a~s ol svery klnd Includk?p Ihs cost ol an abst~acl ol tille lo ~aid iands lou~d to be con- venle~t or ~xpedlenl in co~eclion wilh any auil la Ihe lorocbsure ol Ihls mortp~qe, and ~Iso Includinp, whelher the Mat~a9ee is o1,1ipaled to pey s~me a no4 rsata~oWe allans~~ lees Incu~~ed or expended ei any Ilme by Ihe Mo~iqayee t~ecau:e ot tl?e fallwe ol fhe Mortpegor !a perlam, comply wNh and abldo by W ar any o! 1l~e covenanla, condllbns and slipulalion~ d said prombsory nola a this morlqaps, In Ihe loreclosurs ol ihis morlpays and In colleclMp Ihs amOUnl s~:ured he~eby with ot wllQoullapal procsodlnps, and 1o relmburaa 1he Morlq~ee tor sv~ry paymenl mads a Incurred 1ot any such purposs wHh lir t~rest (rom data ol every such payment al lho hlphest rale aulhorlted bylaw; aucA paymeMs and ob1lQaUon~, wilh Inle~ssl thereon ~s atore~~id, shaN b~ tacV~od by if?~ lien he~sol. • 8. To keap Ihe bulid~np w bulldinpa now a berealler on aaW I~od Insu~ed aqak?sl bss or damaqe by lire, exlandad coverape and othsr pe~ils, in• Nudloq wa~ ~Isk Insurancu q avaNablu, In p sum nol ieaa Ih~n Ihnl~ fuN Mswubte vnluu el lhe ctrsl p~~d a~punuo ut Ilw Mwlpapor in 0 comp~ny oi cwitiprniu~ opprovM by th~ Matgaflee, ihs potk~r or poliales to ba held by ths Mortpapae. ~nd aucA poNcy or policlua ol lasu~pnce shaH hava wipxod Iheralo a Siandaid Mortpa~ee Cl~use, makinq eN lou or bsses under suCh pollcy a poNciea payable lo Ihe Mo~lpa{~ee ~s (ls !~?le~esl tnay eppear, and !o ddliwt st~~d policy a policbs lo IAe Morl~a4ee when Issued wflh ths ~eceipls la the paymenl of Ihe p~emtum the~e(or, and in IAe eve~t any ~um oi mo~ey becomes payable u~der such poliay a pohdsa, Ihe MatQaQee shaN have IM opllan torsceh?s and appy Ihe ssme o~ accounl ul lhe indebtedne~s secured hereby a to pe~mll lhe Mortgaga lo receivs and usa H. or any pe~l thereol, (ot other putpose~ wllhout lhateby weNinp or Impai~inD any eqully, llen or ilyhl uoder or by Wrlu~ o11hb moApa~s;~nd ihe MoripaQea. if it deams necessary, msy place and pay Im:uchlns~rance, or any paA ~hareol, wNhoul bslnp, waivlnp or atlec- Ilnp MalpaQee'' opli~n to forecbse lo~ Meach ol lhis coveru~nl. or sny ppA ihetaol, or ony riqht a option under thls morlpage, pnd every sucb paymenl shall Mar Inlaesl i~om dale thereol unlll paid al lhe hiflhest nle ~ulhal:ed by law, and all such paymanla with tnleresl aa aloresaid sAail be secured bythe hsn h~reol. !n the evenl any losa or damaps is sullered Mo~tp~qor shall no11y Mort~a~es of such bss a damaS}e wilhln 1oAyeiyhl (~B) hau~s aller lhe happeninp IAersol; tM (alture to pive such noUce shall conslitute ~ detoull end 1he MalpaQee shall fu?ve Ihe rfqAts herei~ given lor o11 delaulls. 9. To permll. commit or suller no waate and to mainlaln Ihe Improvements al all times in a slale ol flood ~epa~r and condilion; and to do o~ psrmlt to ~'i-i~'~w"w~a?~i's:a'3Niv.Ti.svai:~.i~:.^.y'~.!:a.n:!!a!~@::,YS1l8l~!!~±e!s~e,~~n...c~arnl.~tdnrnnertyerlnanvWavfmuatraweakenthssecurityolsaWmort~afla lo cass ot tAt rafusal, neglecl a InablAly o! Ibe Motlpa~a io tspak and melnleln ssid properly, Ihe Mo~tgaflee may, al i1s oplion, mal?s sucb repal~s or causs ; lh~ same to ba made and ~dvance monles In thal Qetwll whkh sums shoH be secursd by iha Ilen harsof and bear mterast at Ihe ~p~esl rale aulhalied by ; law. . . f 10. To dedver the abslrscl or abslracts ol tille coverinp Ihe morlqaped propeNy to Mo?tgapee or its desi~nated aflent, whkh shalt ~t all times. durin~ Ihe Nle ollAis moApa~e, ~emain in Ihe possassbn oi !he MoAgayee 4r?d In evanf of the lorecioaure ol Ihis mortgage or olher Iranslar ot Ii1Fe, all ri~Al, l~lle and ~nlsresl ol lhs Monpapor in and to any such abstract or ~bslr~cis ol 111ie shall pass to lhe purchaser or y~antee. 11. Thal no wanrer ot any covenant hereln a In Ihe obllqaUon secured hsreby sAatl a1 any Ilme herealtar be held to be a waiver o! any oi lf?~ olher t~rms Mrad or ol lhe nols sacu~ed hereby, a Iuiure waive~ ol lhe same covenan4 12. Th~i In ordet lo aCCels~ala Ihe melurity ol lhe Indebtedness hereby secu~ed beCause of the lailure d Ihe Mortflagor to pay any tax assessmenl, ilabltily~ oblqation or anwmW~nce upon said propeAy aa heiei~ provldsQ li shatl not be nacessary norrequbite It~at lhe MalQagee shalltirsl paylhs same. 13. Tha! N the Malqagor shall lail, neqlect a reluas tor a perlod o1lhiAy (30) days (uly and promplly lo pay ti~e arin~uMS rt?quked ta be patdby Ihe- nole fiarsby aecured pr the lnterest fhereln apecl~ied oi any d ihe sums otmoney he~eln relerred Io or hersby secured ~ otherorise duly, luly andprompty lo ~ psrfam, execute, compy wilh aad abfde by each, every a any ol !he cove~ant0. ca~dilwns or stlpulalla~s ol this mo~igage, lhe pranissory nole lwraby ` ~ sacu~ed anq/a Ihe conslruction loan a~ebmenl, il any, lheR and fn eilher or i~ any o( sucA eventa, withaut notice ar aert~aod, tAe aald sy~regate sum man~ ' tlo~~d In uld p~omissory no1s, less p~arlow paym~nls, M any, ond any ~nd ~N sums mentioned he~eln or secured hereby shall become due and payaWe I lorthwith or lherealler al lbo conUnuinq oplion ot Ihe Mortps{~ee es (uMy and compIalely as q ssld aq~ragate sums were otipinally silpulated lo be pa~ at ~ such fims. aoytAMq in sald promtssOry note or hereln fo fhe Contrsry notwfthst~endli~ and iha MortQaQee shal! be entilted Ihereupon or tbaresller withoul ' notke or demand lo tn:tNute suit al law or in ' delault or tueach on Ihe part ol tAe Mal ~~~y ~o en(orce Ihe tights ot tha Mort~ayoe hereunder or undet said promissory note. tn ~he event ol any fls9w hereunder or under seld promfssory nole, ihs Mohyayea shail have Ihe cont~nui~y oplion to enforce paymeM of alt sums seCuad he~eby b~r actlon N law a by w!t !n eqully lo laecloss thb moApaps. slttier or bolt~ concurrantly w othenvite, ~nd one aclbn a wil ~hall not abate w be ~ bar to or walver ol ihe i+Aorl~ayeo's rlphl to fn~tltul~ or m~intaln Ihe olhor, Wovldod saW Malyayse sball hrrs only one paym~M snd ~a11s1actbn of aW Indebtedness. 14. That In the event that Mortpe~o~ shaH (t) consent lo the appolntment d~ recelver. lrualee or liquidstor ot alt or a subslanilal parl Ot Mo~tflapoh assets. or (2) be adjudtcsfed a bankrupt or InaMvanl, a lile a volunlary pepllon fn b*nkruptcy, or admft in wrili~?q Its Insbi~ty to pay I!s debls as Ihey become due, a(3) make ~ qeneral assl~nmsnt lor Ihe benelii ol credilor~, or(+) INe a peliUon or answsr teekin~ reor4vni~etion or arranQemenl wilh creditors, a to iak~ ~dvantaqe ol any insolvency law. or (5) tite an answer edmiltlnq Ihe matetist a~eflotlons d a petfUon f~ed against fhe Matgapor !n any b,nkruqcy, reap:nizatbn w InsoNsncy proceedinp, or (6) aclion shall ba taken by Ihe Mor!{~aUor fcr Ihe purpose ol eileclMq any ol the faegoin~ w(7) any ader, wdp- msnl a deu~e shatl be 4ntared upon sn appNcation of a creditor or Mortya9or by a'court o1 competenl ~urisdiclbn app~ovinq e petilion seaktn~ appolntmeM ot a receiver or trustee of aH w s subsla~t+al pa~l al fhe Ma1Qa9ora assela and such ader, ~udpment or dacree shaU conlinue unslayed and in oltec! tor any perlod ol lhlAy (30) consecutlve days, lhe Mo~ tpaflee may declare the ~o1e heraby sscured forli~with due and payable. whereupon 1 he princlpal ol and Ihs In- ler~st ~cuusd on Ihe note and all o?her sums he~eby secured sAaN become torfh with due and payaWe ~s H a!1 d fhe aaW aums ot money wae oripln~Ny s!!pulatod to bs paW on such day; end lhsreupon the Mortyapo~ without nolice ar damand may ptosecule ~ suit at law and/or In equity ss U all monie: . secund hsr~~y had matured prlor io Its InatNution. 15. Thal lhe Morlflwes or ~ny perion authai:ed by ths Morlpayee thaN hava Ihe rlpht lo enle~ upon and inspecl lhe malflayed premises ~1 aH nasana~is tlmsa. ~ 1 d. ~ That amr sum a iuma which may be loaned or ldvanced by tha Mortys~pee to the Morlpago~ al ~ny Nme wilh(n twanty (20) years /rom IAe dat~ d thb fndentwe, topather wifh tnteres! theraon at Ihs rate spieed upon ol tAe time ot wch loan or ~dvance, sh411 be equally secu~ed with ond havs Ihe ssm~ prlal1y pslhaafpinalindebledneuandMwbJecltoallthotormsandprovbbnsoilhi~matpape; providsd,Ihallhsa~greqalesmounlotprlnclp~loutstan- dinp ~i any Ihne ahaU ~?oi excesd (t a~ the pncedinp Wank b nol comptoted, than sn amaunl eqwl lo one hw~d~ad and IiUy pac~nl (150~6) d the princlpal amounl oripinoNy secured h.rsby shaN ~pply. z t Th~t, N ~~qul~ad by Mat~a~~s, lt~ aald MortQagor wNl pay unto Iho Morisspo~, o~ tM tirsl d~y ol ~ach ~nd ~vsry consoculW~ monlR a sum equal to ooatwsll~h bl lhe ~nnual amounl naceasary to psy all taxas ond aaessmanls apslns~ Ihe s~W mortpsged prsmisss, aald monihy wm to W~~• Itmsted solety by Morl~apse ~nd cakutated ta be ~n ~mount no! lea Iha~ Ihe amouM o! laxes usossed aQainal sala moAppped prsmises lor Ih~ prev{ous yerr, ~nd Il lurihar roqukad Dy Mortpaqee to pay sll Insur~nce p~emlums M mannsr and lo~m u provid~d he~ein ior tha p~yment ol taxes snd assessm~M~. - 18. Thpt N Ihb mortasqa b In connecllon wNh conslructbn lan 11n~nclnp. Ihen thl~ mortp~e b auWeci to 1ha Const~uctton Loan 11~r~~mtn1 - atb ~9 bstw~en Ihe Mortaa~or and Ih~ Morlpeqaa, oxeculed copy al which Ia In ths poss~tslon of Ih~ : MonQ~p~s ~nd b tncorporrtid h~rNn by iNonnc~ snd mad~ ~ psrl hvtol; ~ny dtlaull by Mortpapor undei aald aprasn?anl sh~q ConqlitW~ ~n ~vMt OI d.laun unoar ~n~~ ma~qao.. t 9. TMl lh~ Mortpwot wUl o~ Iho requeN o11Ae Mortps~~.lumlah ~ w~llten slalemenl oi lho amounl owinp o~ ths obliqelion whkh Ihh mortpa~~ s~cu~~s and Ihaef~ stN~ wMlher a nol Morlp~Qor ct~tm~ ~ny d~fens~~ or otis~t~ Ihareta r ! .r ~ ~ ~~~36 ~4~~8 ~ _ . . _ . - ~ ~ . _ . `4 _ ~ _ ~ . - - . . . ' i~~ rq -