HomeMy WebLinkAbout0979 t28? Fuiw~ Adr~nc~~. 11 ~6 turthar ~o~ananted and apra~d by the parfiee hereto that 1~+9 Mortga{~e etao securea tne psyment ol and
~nc~udes all luture, or further advances as may be made by the lender to and lor the benefit of the Borrower, its heirs, ~ereonal represent-
atrves o~ uae~yns, wHtnn twenty ~20) yeara hom t~e date hereo~, or within such ~easer ~enod p! time as mey be prpvidc~d he~eatlar by taw as a
prerequis~te for the sutf~c~enty of aCtual notice ot record notice of ihe optional tuture o? add~tional advances aa apa~nat the r~hts of
r~ed~f~rs or aubaoquent purcnasers !or valuable cons,derat~on 1Re totai amo~nt of indebtedneaa aecured by lhta Mort98qe may decrease
or ~nc~eaae (rom time to fime, but the total unpaid balance sa secured at any one time ahat! not exceed the maximum pnnc~pal aum of
S 152 ,11170 . 00 , pfua interest thereon and any and at! dlabursements made tor ths payment ol taxes, levies or inaurance on
tha property Covered by tha Iten ol th~s MOrtpepe with intereai on suCh disDursementa at the ~etes apeCified in the Note rete~red to in th~s
Mort9afle. Such furt~e~ or tuture advancea ahall be wholy optbnal wilh the lsnder and t~e same sh,sll bear intereat at t~e aame re!e as
speciNed in the note refe~red to hereir~ unless a~d uMll said intereat rate ehalf be modified by aubsequent aqreement Any such future or
turthe? advancsa which may De made by the lender to end tor the beneNt of the Borrower, fts heira, peraonal representatives or aaa~gna, ?n
accorcSance with this paraflraph ahall be secured by thia Mortflaqe to t~e same extent as II euch future or turther advancea were made on
the date of the exeCUtion hereot, irreapectfvq of whetAer ti~e note and Mo~tqaye are in defeult or wftethe? the note is paaf mafurity and ia
due and psyabls in !te entiroty.
(29) Natlc~ to Borrow~r. Any notlce to ths Borrower provided tor in the note or this Mortpape shall be deemed qiven when it is
c+epos?ted in the United Statea mai~ posta9e prepaid, addressed b the Borrower at the add~eaa oi the Borrowe~ aa it appeara in Lendef s
reco~ds pertainfnp to tAS loan evidenced by ths nots at the time noltce ia piven
(30) Os~~ral Provl~lons. (aa This Mort9sfle appiies tq inures to the benefit of, and binds a01 part~ea hereto, their heirs, lefleteea
dev~seea, 8dministratonl, executoro, succeasors and esai9na (t~ T1~e term"Lender' shall mean the owner and holAer ~includinfl a plsd~ee)
of any note aecured hersby, whelher or not namad 8e Lander hereirt (ca Whereve~ the contaxt 3o requirea the masCUline flendar inCludea
che feminine and neuter, the sinqular number fnCludes Ihe plur8~and viCe versa (d) Cipt~ons and psras~aph h88din9s used ~erein ere for
convenience oniy, a?e not a part of th~s aQreement and ahall not be usec! In Const?ulnq ii
~3t) AdjusUbl~ Aat~ Mortqa~~ ProWslons. T~e note which tnis Mortflafla securee containa provisions wt?ich perrteit: ~a) i~creases
and decreaaea to tha rate ot interest provided In the note on a monthly basis; (b) increases and dacreaaes to the montt~ty payment of
pr~ncipal intereat on a qearfy b8a~s; (C) 8 limitation on incresses and decrseEes to seid monthy payment emount; end 1d) increaaes in the
outstandinfl principal emount due on the loan Reference i~ made to aaid note for a complete deasription pf the adjusteble rate terma ot tf?e
~ndebte~dness secured by thia MortQape.
(32) Attorrti~y's FNt. As used in thls Mortpafle and in the note'attorneya fee~' ahsll incfude attorneys fees throuyhout all appeaia
t33) S~curtty A~nNm~nt Thia Mortpafle shall also constitute and aerve as a'Security ApreemenC within the meaning of and shail
create a security intere3t under Florida's UnHarm Commarcial Code, tha aecured party beinq herein r+~ferred to aa'Lendef end Debto?
bQinq he~ein referred to as'Borrower.' The Borrower ayreea to and ahell execute end deliver to the Lender auch "Financin9 Statements"
ar.d such lurther asaurances as the lender may, f rom time to time, consider neGesaary to create, perfect and preserva the Le~dera liens
;,pon a!1 rents, insuranCe proceeds, Condemnation awarda, and other perspnal property herein described and sll8dditiona, subatitutiona, ~
~eptacementa and access~ons thereto~ and all procaeds ot its ~r tt~eir sale or other diaposition. The Lender, at the expense of the Bo~rower. •
may cause such Financin9 Statements and asaurances 2o be recorded end rerecorded ~~~ed and refiied and renewed o~ continued, at suct+
mes and placea as may be reQuired or pe?mitted by law to create, pe~fect and preaerve auch liens tn tAe event the 8orrower fails to
~•ompHy execute and retum to !he Lender such F~nanc~ng Statementa aa the lender may require to create, preserve and peAect its I~en,
~^e Borrower shell and does hereby desipnate the Lender to aCt a~ tfie 9orrower's 898nt fOrlhe sOle end hmited purpoge of exeCuting such
~ nancing Statements and 8ny such exeCUt~on by the Lender pursuent to thi~ Aflreemenf ShaU be efteCtrve and 5~nd+rrp upor, ihe 8o?rawer
:}s tneu~h executed onqinally by ihe Borrower. The Borrowefs des?ynation es a~ent hereunder ahall not be sub~ect to revGCatior. un;il the
~~te ~s pa~d ~n full. T~e Lender shall nave all the riQhts, with raspect to atl property encur~?bered hereby, aHorded to the Lender under the
=~onde Un~form Commerciel COde in ~dd~tion tq but not in hmitetion Of, the other ri9ht5 affarQed to the Lsnder by !he Malflaee. Any after-
?cquired pe~sone! property or fixtures u~ed in conneCtion with said ptoperty shBN be encumbered Dy the iien of th~s MortQaBe, 8nC if
approprlate or des~: ed by the lender, new F+nancmfl Statements covennq the same shaH be execute~ oy t~e Borrpwer and torvra~ded ta
cr.e lencier with the cost of recorQinq same.
!N WITNESS WHEREO~', BORROWER h~a executed th~s Mo~t4aga
i
S:gned sealea and delrvered in the presence of
, / / ~
~ •
~ _ _ ' ~ l ~ ~ _ ISEAL)
- NITNESS WI AM H.A. P£C ~
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- - _ - - - _ ~ SEALi
WITt~ESS Cl:~NSTANCE A. P~CC~VER
~.<=!AN N0. 940b61-2J
~TATE OF lq,~X I I.L I ti0I S
SS
COUNTY OF DL PAGE
The iore9o~ng ~nstrument was acknowledq9d belor~ me th~s ~ day of ~C~ g~~ , J
5y
1
NiL~IAM H.A, PECOVER AND CDNS~lA?iCE A. F'EC~JVER, F~t15RAND AND WIFE
.
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~«--L ! ;~c ~ ' -
OTARY~~BLI~ Stete of
Illinoi5, County of DuPage
My comm~ssior~ exp~ras. lt1-~)3_8y
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