HomeMy WebLinkAbout0993 ucicninnca. i nc ngm iv cmc~ a~w iawc p~?~xa~wn o~ inc mungagcu nu~rc~iY. w~ ~nana~~ a~....,~.....
collcc~ the rents, issues and profib thereuf, whether by a rcceivcr or Whcrwix, shaii bc cumulaUve to any uther nght ur
rcmedy hrreuncle~ cx af(orded by law, arxl may be excrciacd ci?r?currcntiy therew i~h ur ~ncirperxkntly thereuf Munga-
gce shail be (iabte W account only for surh rcnts, ~ssucs and profit~ acwally nccived by Morlgagee.
14. If Ihe indeMedr~es~ secured hereby ~s nuw ur herea[ter funher xYUred by chattel rmmgage., ~erunt~• ~ntrr-
tsts, financing statements, pleilgcs, euntracts af guaranty, ass~gnments uf leaus, cx other xcur~Ue3, or if the Mun-
gaged Property hercby encumbereJ run~i3~~ of rm~re than unc parrel uf rea! propeny, Mwtgagcr n~ey at its uplion rx-
hau~t any ont ur mwe of sa~d secunues and security hercunder, or ~uch parcel~ oi'ttx serunty hereunder, e~ther concur-
rcmly or indepcndently, atxl in such order as it may determinc
I S. This Mortgage shall securc not only existing ~ndebtrdness~, but also such tuture advances, whether such
:+d~an~e. arc obligatury or to be madt at thr upt~on of M~xig~gee, ur Wt?erwi~e, as are made w~thin twenty 1201 year,
from the date hereof, to the same exten~ as if such futurc ailvances werc made un thc datr uf the execunon of th~s Mon-
gage, bul surh secured in~iebtednes~ sh~ll rwl ezceed at any time the maximum pnncipal anwum of twu tirne. the
anaunt uf ttx Nate, plus intercst thereon, and any disbursertxnts made for the payment of taxes, tevie~, or insurance,
on tfx Mongaged Pmperty, w~th intercst un wch disbunemenb. Any ~uch fuwrc aJvance~, whelher ubl~getory ur ta he
made a! thc option of the Mortgagee, or ~Nhcrwiu, may bc made either pnor 1o cx after the dut date of the Note ur any
other nc~tes securcJ by th~s Mongage. This Mcxigagt i~ given for the spec~fic purpox of xcunog any anci atl inJrbted-
ness by the Mcxtgagor to Mcxtgagee (but in rw event shali th~ secured irxlebtedness exceed at any time the max~mum
pnnripal amuunt ~rt fonh in thi+ paragraph) in whatever manner this inclebtedne» mey be cwdrn~ed <>r repretirnteJ.
unul th~s Mortgage is satisfied of recurd. AI! cuvenants and agrremen~s eunta~ned in this Mortgage ~hail be appl~cable
to all funher ad~arxes maek by Mungagee lo Mottgag~x under this future advance clause. .
16. Nu delay by Murtgagec ~n exerciaing any nght or remedy hercuncier, ur c?therK~~sr afforckd by law .~hall
uperate as a wa~vcr thereof ur prertuJr the e~errc~se therrof dunng ~hr a?nt~nuancr uf any drfault hrreunclcr Nu wai~ rr
by Mongagee of any default shall contititute a waiver of or conxm to subsequent defaults. Nu fa~lure of Mungagre to
exercise any uptiun herein g~ven to acrrleratr matun~y ~f ~he deb~ hereby xcured, rN~ f~xbearat?re by Mortgagee txfure
or 3fter thc exerc~se of such option anci no withdrawal or abandonment of forecle>sure proce~d~ng by Mortgagee shalt tx
taken ur eon~trued as a w~a~ver uf i~s nght to exerc~x wrh opt~un ur tc~ accrlrrate the maturily of the debt hereby serured
by ~cawn uf any past, prcxnt or futurc dcfauh on tt?e part of Mortgagor, and, in likc manner, the procurcmem uf in-
~urance ur the payment of taxes or wher liem ur charge~ by !~longagee shall not he tai;en ur cim~trued •r~ a wai~rr ol it.
nght to acccicrate the matunty of the debt hcrcby serured.
17. W~thout affecung the I~abilily uf Mungagur ur an~ ~Mher pcrum Irxcep~ any ~er.un expre.~ly relra~rd in
v?~r~~~ng) for paymcnt e~f any mdtbted~es+ xcurcd hereby ur fo~ ~crfurmance of any <~I~gation run~au~ed hercin, arxf
wuFx~ut :~ffecUng the ngh1~ uf Mi?ttgagre wuh rr~pr~t t~~ any ~ccunty n~H rtpreti+ly relea~ed ~n v~nling. Mortgagre
may. at any ~ime arxi frum t~me to ume, euher befure ur aftrr ~he matunty uf ~aid rxue, erxi withuut rwtice urconsrnt:
Ial R~lease ~n~ perwn l~ahlr fur pr~ rr?rm ut all ur any part ~~f the irxicb~rdnr~4 ~?r tur perfurm~ncr uf an~
ubl~gauun.
Ib) titrkr any agr~rmrnt extrrxling tt?e nmr ur utherwitie altenng thc trrn?s ~~f pa} ment e?(a!) ur an~ part
~ of thc ~ndrbttdnes~, vr rrxxiifying vr waiving any ubh~auon, un suburd~natmR, rixrJif~ ~ng or ottxn+~ise dcaling w uh the
I~cn ur charge hereof;
~
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Ic) Ezercise ur rcCrain frum ezercuing ur waivc any nght Mungager ma~ ha~e;
1d? Accept addiui?~al strunl~' uf any kind. arxl
le 1 Relrase or utherwise cical w ith any pr.~pen} . real ur per.c~nat. ~ecunng ihe ~ndebtednns, including
all ~x any part of thc Nortgageci Propcrty
1 K Any agrcement Ixreafter made by A1ongagur ar?ci ~lungagce punuan~ iu thi. rnungagr ~hall be wprn~~r tu
~ the nghiti t~( the tx~Wer of any intrrvenin~ lirn or rncumbrance
i
19 !Nurtgagur hereby wa~ve~ a!! nght of homrstead e~rm~~un, ~f any, in thr Mortgaged f'topert~
?(1 In the r~en~ uf cc?ndemna~i~~n pnxeeding~ c~f thr ~lunkaged Pmperty, the av?~rd ur cc?mpen.aucm pa~ ahlr
thereuncicr i~ he~rhy a,.igned ro and ~hall be Pa~d w Mungagee Mortgagee ~hall Ix urxier nu ~~bl~g~ti~m to yuc.hun tt~
~~1~uunt ~n~ .u.h awrrJ e?t comprn.atum and may :~c~ept the ~amr ~n ihe anx+unl +n wh~ch the tianx tihall hc patd In
any w~h ruruiemnatiun pr~xecd~ngs. tilungrger may be rtprescnted by countiel ~elecud by vt~~rtgagre The pr~xred.
~~t an} aNard ~~r campen~atu?n u~ re:ei~rJ.hal1. ~t !he up~iun uf ~1~~rtgagrc, either he applred t~~ the prcpa~mrm i~t thr
tiutr anci the ra~c u( intere~t pru~ ided therr~~. rcg~rdle» ~?f thr ratr intere~t pa~sble ~?n the awarJ by the rutklemn
in~: autf~+~n~y. ~~c at thr ~rpti~,n ut ;~lortgagrr. ~urh aw~rd ~hati Fk paiJ c~~rr tc~ ~tc+n~:agur fur rr~tc~rattun o! thr ~1c,rt
~atrJ Nrcr~~crty
' I II ~t~~rt~.~hrr. runu~nl t~~ a c~m,tru:uun iu,,n a~.rrement I~,a~ rummi~nxn~ nzaJ. hy ~1„nge~re w i~h
~~tl(1~!J~Uf. d~fl'~. m~ke in,i.t~uctum l~~an a~1~an~e. up tu thie pnnc~pal amuun~ uf ~hr Nu~e. thrn Murtgagc~r herehy
<<~~rnrnt. ~ha~ i~ w~It rurn~iy w~~h al1 uf thr trrrn.. pr~~~ i+iun~ ~nd ruvcnant.+rf,~~~f ~•ontitrucuun Eu~n ~~:rrcmrm ur I~,en
~~,m~siitnknt. w~ll ~f~i~g~n~l} iumtruct the n~i~ru~r~nrnt~ tk bwlt pur~uam t~~ tht ~r~rn~ therruf. aif ~~f the tenn, therr-
ui w hich ,,re m~ u~~~ra~rJ hrre~n hy rrlrrcnic a. th~w~;h tirt furth IuU} here~n rrxl µ ~II prrmit nu Je(ault, a~ ~krur thrrr
unJer rn~f i( a de(aul~ ~hali uccur therrunJrr, ~1 ~hall cuntl:tu~e a def~ult urxler thn ~lartgage and the Hute
At thr ~~~tu~n u! ti1~mK~~;rr. '~t~m~:~~~?r ,hr!! pn~tiidr ~~t1~1!'J~',CC NIIFI ~1Cf111lltl ~cn~t~eJ au~lileJ ~l.tt~-
nrcnt. u( thc uprraU~~m u( and the lirianiial c~~ndi~wn ul ti1~?rt~tagur
6GOK57~ PAGE 993
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