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HomeMy WebLinkAbout0935 . ~ . . . ~ v.~ } . ..y . ~„~~:~~.ti ' . . _ ~ _ . ~ - ~ } . ~ ~ ~ . Cbnsidef rtiecessary'oi` d@s~rabie in cxdei t~ @IleCtual~ complet9, enlarge;' pe~fec~, ~ to ~9ntiiNiB ~nd ptesetve 1he O~GQe?t~ons d Mortg~gbr t`!~'d~7~thB~Nbt~ ~nd this ~iAatga~e antl ail othe~'ihsC~umenis seCUting the Nde. and~he ben ~1 ~I Mortqa~e - as a~t~~ and p~ior lie~ upon all the Mortgage~ Prt~peity.~~on any (a?iu~8 ti~i`Mortgaga'to d~~Sa Mat~agee`~r?a~ - y, execute, reCOrd; bte, r~reCofd, or,reld@ a and aN such r~brt inst~~m~ts, c9rUt~~tes anc~ dOG~~tS loi'.~ 1 ~ ~ ,."7 . ~ r~ . , . . ~i7`~`^ ~ . ; ~ : . , c name ~FAo~Cga~.RMatgagd~f~~leti~'e~oCably ~~po~nt~ ~+lortg~gee a~ent an~ aKo~~`i~laCt W MoRgag~'t~'tlo a~ things . necessa~y`t~~'et~ectuata a assure co~ipl~ance v~n'iFi'"Inis~pa~a$raph. • : ~0.: EvOM ot Dehult.•~Ariy ~`of"ihe fbllowiri~'Shaq`'COnstilute aii ~vent d'118fdUh: - : ~(a) ~a~~ure by Matgagoi'tb'~pay. as an`tl whe~ ~c~ue a~r payaWe~ a~y °instaNments d prinCipal `b`f~t~~~t'tki~ t~~der 11ie ~ , Mort Y- ~ aii~`"~pos~fs (8i ta~ca~ and aSSess~r?ent~~~'`f"~~~ranC9'.~~~ du8~ Fi~~~i~d8r `or an~ oth~~ sums ~tb~~'paid by ~ ~r ~ gagor her~iW@~~~`ilidet~8nyi~~fi~'t in~~~t se~r'~ the Note. -(b) ~Faiture by Moi~`g~i Cll~ ke8a'Petloim ant!'~tv8 eui~oth~'P~Ove~enl,~co n.~~. "~'"t 8gree~rlent i~~"~1ot~~IFiig - . . . ' P . . 'Mort age, any~~tne~~n~ti fient sec~l~n~'°IIi~~Ie'~7`~ny'`blhei insl~~~i ~oNater~i td'i~h~ae ar eXecuced`t~,$c~?necao~. ~ . ~ ~:r. ~ . wifti s~ss secureti.h~reby'id~ ~a~pertod ~i~ib~d~ys aftel~ MorCga~ei` gives wntten r~otice ~Pec~hn^~' th~ lxeach. . , ,t ~I Elith~r M~~g~~~an~1`I~rant~ or'~iiHase`r ~~th'~N~te:` (~i'tde's~a v0luntar'~' fitioi`~ i~ a~rikil~p~C~; 1~'BdjUd~Ceted _ ~ , ,.i , 8„fl~(flJ Of If1$O~V@111~ ~ ~1~6S 8 1~~ ~`~t1SAl~ ~ a~l` If18f~f ,~1 b~ ~~~t . ~!~j ryi`Pet wn _ ~ at~tuiescin9 9ar~.~ation ~inage~nent.c~mp~ition• tefidjuslment iiq~lidat~on; dissolutiai5~`fii simd8? reli8l'/p~'dseH under`~r'~law telati~'t~ ti~hk~'UplC~ ins01v8nC~bt bth@~`ielief to~'*`d~txors4~t~~~eeks~bnse~t~ tb"bi ~~u'resces~ th8 ~~int~ b18t~t~i~stee~~ece~vei `maste~ at dq~tor ~i'itselt ~ . . . - . . , o? d all (ii any s~bstarn~at ~paiC~~t~tti~ Mb'f~gaged P~e ``~~f` bl dr~for ~11""oi IFi~renis, re+re~"`~ues:= ~ssues,'' earNi~s,'.'prdits'& , ~ ~ ~1 t? . . y ` " 4 ` y~ ne~~rbl ~t~dito~s.~&~'(~K~~akes arF~ aiilrirmissiai°i~i wndn$ ~1' incom~ fiereW d~ ~in~kes any'gen~r~ , _ l7~ . _ . r 9 its i al~t ~ t~` y.Miistdebt~~ eneraH as~t~ a~~ nment't ` the be~.~„ d cv~petenl jt~r'~4d~ction erlters afibrde~,'judgment be~om~`ciue ~ Y P~Y ~ Y " T~ or `de~7~ a{~~5ranng a~f5etil~ hled figa~~~t Mortg~~~1 a~guarantof`~r endofS~f'`i~i the N'Ote. seeW~ re$~ganization._ ~ _ ~t a~ Y , . ~ . arrat?ge~ient, c~os~fi~`1~eadjustment; It~uidziUOn: d~ssolut~ ~imitat" rehel u,nder a~ieseM ~lut re Igcferal; slat~ br other siatute; law ~"f`~ Wat~b"~1 retati .T ` W.. e .r eg t }tfi~-pt~y insolv~C ~~th~ielfel tor deb , ~ : ,.y 2 'LL - . 99 es r C, )"daYs t«s. wr,~cti «der, ~juc~gment ~x ciec~ee . ~ a r ate d s~xC' 6~ ~ whether ~r ~wt consecc,Uv~ ~ro~ th~`dace bl entr~ the~eol: ~ S ar's ~ at~"d and unst~ye~"~~t~'"of Moi~g~g$7~'''d; _aq~~ any ~Gbsl~nUal part d th~ M6ftg~age~"~'rbpert}~ ol at~i br ot v~n ~ tr~stee.-~ece~v~ Oi'.~. • ~ aN d i~h~`~~it~:" revenues: ~ssue~. ea!ning~. Prd~ts ~~m~ ther~. is ~~ant~d without th~ib7 wriri~n'~o~serN d Mortgagee~ : which ~~pfit~tinent shail ~remai~ ~rwa~ated "aritl'`~taye~ ta an ag~t~'~te~~f sizty (~Oj~i~yS w`~F~etti~~:~"iWt ~o~lsecutive. `"(tn"Any+`bre~h d a ~~7'~~t~ti~!'~tiCi~t~$t ~ny`~xesentatia~ii ~I IiAo~tj~~taineii in th'~ Pfote~ thi~ M~'tiCg`~' ge r~y Yyarr~i°iC ib" `oi any otti~~~"~t~~lment ~c`~'iilig'th~"~N~ite. i •-(e) .'~he°"~cfrre~~"~I ~n~ri~~lault'~i1ii~7`'it~e t~~~ns-d~any'ri~iortg~~~~bthe~i's~ct~nt~~i~strumenl V~ihich`C~eates a lien br , ~Oth~t secu?ity'interest~&~Of`i~? tFi~~Mottgag@d PtOp~tty.: - . . : . . - - _ C ~ . - ~`~1: Acceleretion U a~l,'e~cenf`d defauft $F?all`hav~'~:G~fted;`Mortg~igee majl"deciaf~'`th8'l~'itstandi~g ptirs~"~i~fal arn(~unt . d lti"~`tJ8[e anci tFie ante~esi~ac~t~i~ii th~r~n ancl a11 othei sums sec~r~it`heretSy. tb'`bE~~tlue arW~pajiatit8 immeCMete~y'~U~On : ~ • ~ a suCt?'dectaratiOn su~h ~inCipal ~`rYtl inter~st an'otfi~ S~'A~''S'~hfilfim~atel~b~~du8 9ntf payabl~ WithOUl demand Or i~tice `'12.rRemedles aEte~ Dehult ~U~r"i`a~? eventa~t~deiay~1~ ,Mo~t i. may pf~e~d ~r ~it`~ 5uds at la~i`or ti~`~jl'uty . „=x ~ ~ i" ck~~`~i~ ~n^t `a1"tii~ Note'"~`~ ° r~ce d~ term. h~eot a 6the? 8te rdceedng ~`~em~d~ lo~ ( . . _ . . g . , ss aq'ent~r~ety 6t~h~'s~parate lots ot parcels, tfie Mortgayecf ~to~ieny - W o~r ~ bihe~~~i'~ ecbse`this MoiC a~r`~:t~'sel~ . , ~ 9 f `1 unde'7'°~he,'~ii`dgmerit fi7 iieCree~bf a Cbuit b~ ~~tiriS "pete~l juri~tlictidn"(d) C6lledt aN ient~; isst?es.'P~d~t~, reventi~ iiicome ~ i a~titi'bth~~'ti~t~ei~ts'Irorrrthe Mdtt~~cJ~`P-l~ertY: (i~~~~pot~t ~`r~e~ve}r t~~en~r~ipon a~id`take~~~sess~on.`~ Mo~t~a~a? . 'Pt~pBrty antl't~`~bII~Ct alf r~iits, issues.-prOtits: reyenu~ inCoin~ a~i`~the7§~ti8iiefds t)~erebt arid ap~l~'the~'same e~`$"~`irt m~1ay`direct•and stjcFi t~Ce.ir?E~ ~haN`ha~r~ aN`r`~ghls ai~iy~ioweig pe~rr~itted~Gnder' law; ar'itf (~'~rsve ~'`olhet remed~available ' ~c1uJ~J~ng bt~t ri~ tan?ted ffit~kiTi'~`~osses~ai ol th~ 1No?tgage'8`~?bperty v~nthoui riot+e~`~` hearii~~t~ Mdtgag~`i'' M~g~gee . .a- . . , . shall Wke acCib~` eith~f tiy sucfi ~7d~eL~ii~' by the "exArCGse Ot .it~'~ow8t vinth resp~'t~ entry" ~~t'1~t"i~' ~S05sesion: b~ both. as`Nlatgagee~'inay~°rieterm+ne. ~ . 13 No Wslver:~No iYe~ a ornission d Matg~ge~ of d a tfbfdc~ d~the Not~'io exercise ~ t ht: ° or accrui' 8~~eVent'ot``tfetaUlt Sha11 exh~ust' bt e~?` r a sitch ri t.~'~ower" i o~`shaN b~`C r~~Y . ~9 P~ ~Y r P~ nN 9h emedS? ha to waive any event ~bt delaul~ or~to ~'on~t~f~t~ acquiesence therein. ~ . 14 'Noi~-FacCluslv~ Refnedied.~Nb ri `hf: power bt` refhedy cont~rr~'d ~'~90iti`'bi"reserv+eci tc~ "g~ge a an~'"t~t~~~"instr~i~~~t se~ull~ ine°~Ndte is exCtusive d ar~oln~?ir Y 'Mor1~~e bSi'th~"'Note:°this M~[ , ~it. power or remedy.' bul ~a~h ~~itl ev8ry suc~i ~'ig~it:°~ower and`remedy shatl b~ cumt~lalive aifid'~oncurrent ~ii~ shail bc (n additi~'tb an~°othc~' ri~ht~~v~et ar'id remedy ` g~ven here(f~iifet~Cir'~piid~"the~Na~'~i any other instfuil~erit'se~uri~"tli~'~lote. +tiow ot`Fiereaftei eicisli~ ~1aw, ir1 bquit~l"~ir . bY stai~te . _ yr `15. Successors and Asslqns Bound.'~Wt~enever or~e~~`Its~~~rUes~hereto is named ~ ref~tr~`ib~herein. the`'heirs, . ' suCCesS~NS ~and assi~ns of s~iti~p~rty shaU~ be~~ncliicf~if'~ft~ a11 ~c)+renfints ar?d agreements'~b~t~iri~'ii`inFth~s~Morlg~g~` by or on behBN ~Mbi~ga~o~"~t.MtNtgagee. shaN biritl ~n~i'i~br`~ t~ th~r'benel~ts'~t'`thei~`r`eSpeCUve t~i~s. suocessor~ ~nti assig~, ~ ~whether or`n(it ~b exptes5ecf. . . - ts Mlscellan~ous: ~n thL'`eugrtil that any bf`the°~nants. agreemen~s. terms ~'~rovi~or?s containedrin~th~~N~i~"1h~ , . _ . _ Mts~tgag~`~`67 an~r~dh~r instrume~t s~ufir~g the¢N~te shan be in~ahd. ~U~~1 0~ iJnBnkf~C~~bl~ in 8~j1"f~Sp~i:°the valici~E~"~t tn~'iema~nin~`~n~nts. agreements. te~ms or"pfansibnS C~t~~neti here~n and ~~i`the Note arid ~rr'~ othEk instr~nerit s~:uring ` ~ I the~Not~ shaM bA irltno way aNe~tt`d: pr~jud~Ced:~`d~sturbed~th~teby. ,17.~ 'f~~es:;Tt?e term "8tt6r. s fees.. as`uSed in 1his~Mat 8 ~nctude5 a ~1?tl'al( I IeeS o1'Whatever ~ I AttOm~Y ~ ne~+' 9 9e nY ~ I nature`~rfcluding.~but nd~uirutei!"to.`~ees resu~hng lrom ar?y appeai d any ~nterlocuto~~lr~ra` t~na~'judgment a ar~"other i appenate'pro~eedmg a~~ng`~out d any ht atiC~n. I ` `~'t8. Fututi Advances:rTn~s~MOrtgage s~iven to secure not oNy ewst~rig ~ndebtedness. but alsa sucF?`~(utore'advances. ~ yea 5 Om h eid+rd~Ces are ~ibt~gatCty`cx are: t~ be m~de at`t?~'bpti~ti8f ~iAortg3gee. c~ olh~rwise, as ar~ frWd~ within 6h8en lhe dat@ hereol.` t0 lh~ sam~ extent as d sUCh tuCure ~dv2u1Ce5 w~ere m3d~ olt'tFib"d819 dl`tFib @xeCUCi~`b1 thiS ~ Mortgage °the lotal amount d md~bsetiness that may ti~ ~o seCUted may~decrease b7 ir~teasA~ltom timA t21 tim~ ~ut the ~ fotal unpa~d balanCe so~ seCureif'a! on~-timA shaN nW estce~ti twice lhe taC~ arvibur`1! tSl'th~`Nbla.& P~~s iMeteSl ther6on. and - ~r~+"a~~burseme~ta m~d~ ro~'the`payment`a taxes: le~ries or~~nstliir~nce bii'the`M~rtg~ged~~roperty, with inlerest ci~?'s~1~h d~sburser?~ts at'~the~ Oelault" ~iate' as h@reaftet' iie6n8d. 19.'OMIgatlorf o~ MOrtqagOr+MOttgB~Or Sh~ll~p8y'the cosl''d releas~n~'c~''satisfy~ng thiSjMt5~lg~ge"d reCOrd. ` ~j ~ , h . ~ - ~9~4 : . - . BbOK'~C70~ ; . , • = . ~ ~ . . , ~ . , _ ~if~ ' ; . . _ ! . . _ . .