HomeMy WebLinkAbout0917 I IIJI. Ifl ~~f~~l'f Ill~lfl• ~11~~1 (U ~~l~1~t'~I I~IC ?CiUl11~ ul ftll~ ttt~~ft~!d4~'. tFia' lrl~~frKdt~~~! l'~~t~}!tl UIl~I. JI11) in s~l~fitu>n tu. thr IllVlll~l~)'
mrnh un,hr thr irrm~ r~l thr n~~tt• ~r~u?r,1 !iric~•y, nn thr hr~1 J~~ ~~t ra~h tnunth untd thr .ai~l n~~ir i, tu~ly pat~l, w~ll pa) tu th~ m~~rl-
..~~~rr tl~~ t~~il~~~~n~ aun~
I.i~ 1,u~n r~~u~l tu ihr ~,r,~unJ r~n1.. it .~ny. ~~r~t ,lur, ~~1!~. ilir rrrmiutn, th~I will n~•~[ hr~urnr ~lur in.1 r~yahlr,~n i~ul~~irc~?f l~t~
JII~~ ~~1f1Cf ~I.1/.1[~~ i11.Uf:ini~~' ~~~~'t'!I11L t~~i' 7NUlIL:1~'t'i~ (~fi~~~illj. ~~~U~ lJ\i'~ dI1tJ d~~C\Vlli'll(ti f1trl ~~Ul' ~lll (f1C IlU~f1~J~;<<I ~~f~~(1~t1)' IJII ~
Ji C~11I11.llt',~ IFIi ill~~fl~.l\~i•) ~i~~ 1~~ ~11i11ti .l~t~di~\ E~:IIJ 1~1i'fi•lUf ~~I~I:~r~ hy~ Ihr numhrr r,f munihs tu el~t~;~ hi~~~fi ~+Ili Itl~~(ll~l -
{~nur t~~ Ihc ,latr •~hrn ,u:h ~t ~un,i rrnt,, {~rcn~ium~, le~r,, sn~l a,.r~,nirnt. witt hr.~~rnr ~1rt~nyurrtt, curh ;ai~i~ tu ht hrld hy ,
murtg.igrr in trAi,t t~+ j~a) ..u~i ~r,~utt.l rrn~.. j~rrrz~~!~rn,, t.~~r,. .:nJ ,~~r~~el .r:x•»u~rnt~. ~nd
Ih? ,111 {~atm~•nt. ~nrnh~~nrJ ~n Ihr t«n ~~r~:r:lin~; w?~~r.ti~~n~ ul thi~ p~ragr~{~h ~n~l ~il p.?~inrnls t~~ hc n~aJr un~l~r thc n~~te:«ut«!
hrr~h~ .h.~ll hr .ul~lr~) t~~~;r~lirr ~n;! thr ~~rr~;atr .im~~unt thrrr~~i ,hall i~r pa~~ h~~ thr m~,rt~~~;~~r ra~h m~~nth in ~;~n~ir ~~e~ ment
tu t.r .~pphr~i h}~ thr ~n~~rt~.~~rr t,~ thr f~~ll;,u~n~ ~t~ m~ ~n 1!!r ur,lrr irl f~~rth
~I? ;~~~un~l r~nt,. t.~~r:..~...•.,;n~ n~,. tiir. in,! ,~thrr har.ir~l in~ur~n~r pn~niiu:n,
~ 111 intrr~.l ~~n Ihr n„R• .r.cur:! hrr:~h~ . ~n~l
11111 ~m~~ru~~lu,n ~N thr ,~nn:iE}.~i ~~t ,.u~! n~~tr.
•~ny :lrl~~irn:} ~n Ihr ~tn~n~nt ~~t .u,h .i~~rr~.~tr munthly p.~)lnrnt :h~ll, unlr~; m,~dr gu~~d h> Ih~ nu~rtgegur pnur lo thr Jur ~1at~ uf
!hr nr~t ,u:l~ p~)n~rnt. :un,l~tuh• .in r~rnt ~~S ~.i~t.~uU umlrr th~: snurtgage. fhr inurtK~grr m~} iulir.:t ~"latr ~h.trgr.. nut t~, r~.r.•~f f~~ur
:.ntti laQ? t~~r :-~~h .1„11~r 1)I 1;,t r~.h {~e;.rn~nt r~~~~r~ th.~n fiflrrn ~?,l~y~ in JlI~,111 ~u~rt thr r~tr~ ~~{~rn,r ~no~~h~.! ~n h.in,fhng Jr-
irn,{~i~nt {~.~?m.•n1,.
1 1 h.~t it thr t,,t.?I u! thr pa~ m~ nt, maJ~ h~ thr nz.~rtgagr un~l~r la) ~~l paragraph'_ pr~crding.hali r~r~rd thr amuu~t ~il tht pa} m~nt. artuall~.
~ii.~Jr b~ ~hr m~~n~.~~rr. l~,r ~r.,und rrnt,, ta~r. and a..r.,mrnt,anJ in,urance pr~mium,.;+, thr ~a,r ma} Mr..u:h rxcrs; if the 1~*an i.current,:~t ~ht ,
„~uun ol th~ m~~rtLa~~,r,.hall br ~~r~utrd un .ub.ryurr~t paJmrnh tu be madr b~ thr murtgaLUr. ~,r relundcd tu the murtgagur. If hoHr~rr, tht ~
nutinthl~ ~,~~rm~Tt, rnadr h~ thr murt~.e~~~r und~r (a) uf par:~~raph 2 prrr~din~..hall m,t br.utliri.nt iu pa~ g~ound rrnt~, tsr~., a~,e+.ment~, ur
in,uran:r ~~rLmuim, .haU hr ~lur II .tt an~ umr thr tnurtgagur .hall irndrr tu thr ntungagr~ ~n arcurd~n~z with the p~o~ i,~un, ul thr nutr ,ccurcd
hrrrhr, luli pa~ mrnt ul ihr rntu~ ind~htrJnr., rrpr~.rnt~d thrreb~. th~ murtgaget.hait, in c„mputing th~ amuunt of ,urh ~ndrbtedne~,. credit to the
,iiiuunt ui thc murtaKur an~ halan~r rrm:umng ~n th~ fund, arcumulatcd undcr thr pru~n~um uf I~) uf ,aid paragraph 2. If there,hali be a drfault
undt r an} ut thr pn» i,~~~m ~~I ih„ munga~~. n,ult~ng in publ~c ,alr ol thr prrmi,e~ ru~rred hrrrb~, i~r i( thc murtgagte acyuires the prupert}
,~~hrr.~~,~ ~ttrr ~rlault. th~ murtgagr~ .hall appl~.:it ~hr t~mr .,t trh ~omm~ncrmrm ut .uch pruccrd~ng, ur et thc umr thr propert~ i, uthrrwi~t
,~:yuired. thr halan~~ thrn remaining in th~ lund, ~ciumul:;trJ vndrr (al ~~I p~ragraph 2 prec~cl~ng a, a crrdit again,t 1h~ amount ~f prin~ipal thtn
rcmainu~g unpaid ~md~r ,aid nutr.
~i. f hat he KIU ~Sy' :iII (JXC~. :l~?C~Sip~A(i, W;lICf IJ[.s. ~n~1 nthcr gu~ern~n~nt,~l ur nwni~ip~l iti~rgri, tinrs, ur ~mpu;thum. fur ~~hich
provisiun h~s not heen ma~e hrrrinhr~ore, an,t in ~Ir?.~ult therr~,t thr nuxtgagre may pa} thr .~mr. ~n~l that he will pmmptly drli~-rr the
uffirtal rccript; th~re(or to thr murtg.i~re
rhat hr w?11 prrmit. r~~mm~t, nr ;uff~•~ n~~ wast~, impairm~nl. or ~letrnoratiun o[ .~id ~roE~~rty~ or an}~ part ther~of, an~ in thr
r~ent uf th~ l~ilurc of thr mnrtg~gor t~> kr~p thr huil,fing, ~~n ,ai~ prrm;sei :~nd thu,~ tu hr rrc.trd :~n ia~d premisrs, ur impruvrmrnts
thereon, in guod rep~?r, thr mortgagrr ma~~ make ,uch rep;~~r~ ai in ih Jis~renon it rnag ,1«rii nr~rssar~ for thr ,ntoprr presrrvat~un thrrr-
u(, and thr fuR amount of r:t~h an~! rvrr~• ,u~h p~}rn~nt +h~il hr i~nmrdiatel~ ~fu; d(lt~ ~J)dF1Ii, :~nd sh~ll b~ securcd b~~ [hr lirn of lhis
mort~ee~r.
~6~ l~hat he K~ill pa} ~II ~nJ ,ingular thr :~~su, rh:irgri. ~n~; ~\G~CII~CS. III~IiI,il1L~ f.3iUfidhlc la~ycr'i frts. ~nJ cust~ ol dh~IflilS ~~f
ntle, in~urre.i or pai~1 at an~ t~me h} the murtg:~gre hecaui~ uf thr failure nn th~ p~rt ul thr murtgagor {~romptly and fully t~~ prrf~~rm the
agteem~nts anJ covenanti uf satd promissury notr ~nd th„ murtiegr, an~i ~ai~ ~u,t~, ch~rgei, anJ ~rprmr. shall hr ~m!nadiat~l} dur an~
payahle and ~hall be ~eciued h~~ the I~rn of thu nwrtgagr.
7_ That he will krrp the impro~~ments now cYkting or hrr~after err.t~:1 un th~ m~~rtgagrd prop~rt}~ ~murrd as may be r~ywred from
time tu time ny ehe mortg:~ere ag~inst locs h}• fire enJ +~Ih~r har~rds, raiu;~lltirs. an,i ~onting~n~ir: in ~u:h ~mounts and fur su~h p~riods as
may be nyuircd by mortgager. ~n:i will pa~ promptl}. Hhrn ~fur. an} prrmium. un ~i~~h in;tir~n~~ f~~t r~irnt uf uhi~h pro?ision h,~s no[
been made hereint~fore. All imuranr~ sh311 be carnrd tn cumpan~ri appro~ed M mortgagr~ an;f thr pc~l~ties anJ rtnewals thereof sh~il be
hrld by mortgagee and havr attarh~d thereto l~ss pa~ ahl~ clau~rs in la.or of anJ in Form ~:~rpcahle to th~ mortg.~g~e. In e~~rnt of loss he
wiii give immrdiatr nc~tire by mail to mortgager. ~nd snortgager may~ mak~ pr~~uf r~( iu~ti if not iti~.tr prornptly b~~ mvrtg:eg~r. ~nd each in-
surance company ~oncerned is herchy au~horizrd an~ direitrd to n~ekr p.~}rnrnt for ,u~h Jire:tl5~ to m~~rtg~gee inst~ad of to mortga-
gor and rnortg~gee jointly, ~n.! the insuran~r pro~er~s. ur an~• p~rt thrreuf, may b~ ~ppli«f muri~~~rr at ih ~pnon ~ither to thr r~Juc-
tion of thr indehtedness hereby secured or to the rr~toration or repair ~~f thr pr~prrty .i~magrJ. In r~tnt uf tor:cl~~surc uf this murtgage or
<~ther transfer of tit[e to thr mortkagcd propcrty~ irt exhnguishmrnt of the indrbtrJn~cs,r~urcd herrh}~. ~li nght. tiU~. and int~r~st uf the
mortgagor in and to any insurance poliries then in furcr ;ha!I paii t~~ thr ~~urchatier ur gr~ntrr.
8. That if thr premises, or an}• part ther~of, he condemn~d undrr an} powrr uf rmin~nt d~~~;~ain, ur,:ir<tuired for a pt+bi~~ usr. thr
damages, proceeds, and the consideratian fo~ such arquisition, t~~ ihr rr!ent of th~ fuit am~imt uf indehtrdness up~n this \lortgage, ~nd
thr `ote securrd hereby remaining unpaid, are herehy assigned hy thr U~~rtgsgor to th~ ~fortg~grc 3nd ah.~tl br pa~d forthwith tu thr ~tort- ~
gagee tv be appfied by it on account oF thr inciehtrdness sr~ured hereby, whrthcr ~tur ur not.
9. That the mortgagee ma}-, at any time prnding a suit upon this mor[g~gr. ~ppl~~ to the court ha~ing jurisdi~tion thrr~uf for the
appointment uf a receiver, and such court shall forthwith appoint a recei~er of [he prcmises ~ocereJ herrhy~ al! and singulat, ~nrlud~ng atl
and singular the income, profits, issues, ar.d re~rnues from whate.•er sour:e derived, earh and e~-ery ot w~hirt~, it breng rxpres~ly~ unJrr-
stood, is hereby murtgaged as if specifirall} set forth and drscribed in the ~ranting anJ habendum clauses hrreof, and su~h re~rn•rt ~hall
have all the broad and effective tunctions and powers in anywise entrusted by a rourt to a receiver, and such appointment shalt be made hy
such court as an admitted eyuity and a matter of absolute right to said mortgage~, and without rrfrrertce ro the aJeyuacy or inadrquary af
the value of the property mortgaged or to the solvrncy or ins~l~•rncy of caid mortgrgor or [he ~1~Frndanl~, and that such rents, pr~~fits, in-
come, issues, and revenues ihall be applied by such receiver ac~ording to the tien of this mortgage and the prartice of w~h rourt. In t6e
~ event of any default on the part of the mortgagor hereunder, the mnrt¢agor agree~ to pay to th~ rnortg;~gee en demand as a rersonabl~
~ monthly rental for the premisrs an amount at least equiv3lent to one-twelfth 1!/1 uf the aegr~g:~te of thr tw•rl~e monthly i~st~Hments
I payahle in the then current year plus the actual amount of the annua! taxrs, assr.sments. w~ter ratrs. ~nd insurance prrmiums fur such
~i ye;~r not co~~ered by the afocesaid monthly payments.
10. That (a) in the event of any hrearh of this mo~teage or drfluli on the ~:~rt uf Ihr mo~lg~gor, or Ib! in thr c~rnt that ~ny of said
sums of money herein referred ta be not promptly and fully pa~d without drmand or notire, or Icl in tht event that ra~h and every• the sii-
pulations, agreements, conditions, and cover.ants oi said notr and this mortgagt, are not duly, promptty, and fully performed: theR in
ei h v
t er •r any surh e ent, the sa~d aggregate sum menhoned cn satd note then remaymnt un',.~d, with ~ntercst accrued to that hme, a~d all
moneys secured hereby, shall become due and payable forthwith, or therea(ter, ~t the ~iption of said mortgag~r, as fully and completely
( as if a!1 of the said sums of money were originally Stipulattd to he paid on such day. anything in said n~~tr or in tt~is mortg~gr to the con-
trary notwithstanding: and thereupon or thereafter, at the option of said mortgager, without notice or demand, suit at law ~~r in equity,
may be prosecuted as if al! moneys secured hrreby had matured prior to its institution. The niortgagee m~y fore~lose this mortgag~. as to
the amount so declared due and payable, and the said premises shall be sold to satisfy and pay the samr togethrr with ~osts, erprnSes, and
allowances. In case of partial foreclosure of this mortgage, the mortgaged premises shal! he svld suhl~ct to the continuing lirn of this mort-
gage for the amoant of the debt not then Jue anJ unpaiJ. (n such case the provisions of th'ts par~gt:~ph ma~ again be a~~;~ilyd of thereaftrr
from time to time by the mortgagee.
' NUD 921 tOM (6 79!
~oaK574 t~,,~E. ~l8
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