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HomeMy WebLinkAbout0922 ~C t•1: ~~1? ~1ti ~.~f~ .i " . . .~.1 jr , ~.,1~~ '~1' . !.y.~.~ .~..r . . . . , . . . r... . e..~.. 1 '*n' . 1 .In• ~irt.rn,Se~\ t rr:i~ .il u Y ( ' 1~ ~,:~!d f',~• ;~r~ur ,yr: n ~.n~i :i! ,if i~;B ~L;;~±ydye•r In th~~• ~~e ~~t h1;,,!ydyr.. y:yt~~ ie,•, v~',f~r'i ~ ur~lenl lhtl ytdnt~e ~~An~nd ~n Sui 1~ t~in . ~ r~'~.t~~ .uti;,~ne• nnil .~•.~~re In ~idy tnr ut~~~.~dl~u~~ ~!r~~ld!~;.Nit t~y tf~B ;~~crtr~5ury nu(r srturrd hPrt~by An~~ i u+r~ryd!z:.a uf tne t~ru~:er~y here~n i)tlS~.~~bHd Or l~~~~~ru1 ~n :;U:,ft~un i~t t'+N fNrr~,~ i~f e~;;ti (~d~di~rJjlh Shdi, ynt:t~Q ~V1u~!yd':feN IU a:: r,N:div tF~~e ~~dyn~Cnt UI Ihe! u[~~~ydhU~~ 5@CU~BI~ f7b~Nb•/ df~d dl{ SUITIS GI ,,r~ ~:~r.~f ~~rr~•t,y tir,.~il et t^e ;~~,h~,u o1 M~xtyryae be~on,e ct.:e auif ~,a,at,;r. ard :r~ detault whnther ~~r i~ot t~~e serr~e are 5u dur and ~iayabfe ar~d ~n ~ . ' t~~ I^e~ ~(~r.~,};~ te•,,~•.~ 'irrr~,f Ncitr~,i~y hrrr.~n u•,!d~ned S!~d;'~ t,e ~-uu;tr"ed t0 ; v~~s~~tute a nu.~at~on G~ iCIBdS@ MUrt~dgOr u~ di~y subSequent uwnNr U~ . ~ ~)r (1t~~~,j.1S~~~r~ .i :~1e'r itiC` (1rc1~17•SSl1'y f1Uif'. SL'~ I:IF~:~ fltllt~7`' U/ l~1~5 fl~(1ttl~dl~P ~ly rE!di~~rl l)~ tflQ d~ll~RSd~(1 d`.SU~71nt~Un O~ l~iQ i~~ll:(~dt~U~~ i1t;(~Cr l~lC ~l0(e ~,e•rr.~~ .i~ :t .:~I~,e.~~.,rni .~wntfr c~f !he ;~r,.~pH~[y' destnb2d he~e~n 1~,,~~ n,nr ,ry~•nt nl .3 s.. .^<,~~~t~ :~~st~r~ted to f~,re~~use in~s rnpr;yaye tnr Mortyac;ee sna;~ be ent~tlr.d ta dPPiy dt dr:y t,rr,~ durny sach tore~lus~re •~.r• . ~.~i~i• ,~.fv.,~.,~ j~ ••tiil~; t~uf~ !!~Pr~c~l fOr t~~N dP(lu~ntmPnt OI d~PCB~~B~ [~I dti dnd Su~~uid~ thP. murtya~ed ~uupb~ty dnC1 b} d~i rPntS ~nCUn~ES p~UhiS in~1 !ne~r~~f h,~~„ ~~r~,~t~uever cuu~<e rler~vr.d anA thrreu~zun ~t ~s ne~eby ee,~ressly cunvenar~teA a+~d a~~reed that the r.ourt she~l ~o+thw~th ap r.~•~ ~ti~,h tr,.r „s:,.il ;~u,ne~s .ar~c1 dut es ul rece~tiers ~n I~he rasrs and sa~d aPV~~~ntment sf+ali be made Uy ?•.e court as a rnatter ol str~r_t r,yht to •,'.~~r~~d.~rt~ .~~~~1 w~it:uut rrter.!nce t:r the d:lei~udcy or ~r,ddeUudc~- n1 thr. va!ue u1 tn~ pro~~e~ty t~erebY murtyayed ur tU thtl Sci:ven~y Or ~nSUt.en~y o) ih¢ . ;,.~,v :~:i~r~ (~d~ty lefen~),~r.t tu s~.,.h s~~n The tilo~tyayor ne~et,y ~~,euf.~el~y wa~.es the nght to ob~e~t to the appu~ntrnent o! a rece~ve~ as ,r e~~rh~ .•.~~•e~ssl~ ~ r~n~ents that s~,cn appc:ntment s!~d~' t~r R~ede as an adn?.!ted e:;~_rry and as a+natter ul aDSOlute r~yn~ to N,e Mortyogee and , • ~,fn,r ~•~dy t~e ~t~.~ne ~ti~~It~u~~I r:ul~ie t0 th@ Me~tyagor • T~,.~t ,r .u,~ ~,r~~:_e~e~hnyi tih~~;Jd be ~ns~~tu!eA aya~nst !ht prc;{ir~~~ ` t~verrd by !h~i mc,rly~fye ii;wn eny other lien or c!a~m wnetner suVei~ur or ~un~Or ~ !~,~~~h~~~~N ihN Mu~;y.f~~re m,iy dt ~ts upt+un ~,nrnrt7~dtc•~~ u(:u!: ~r~St~tut~ur~ ul Su~.l~ ~:nt Ur Aurny the vendenCy thereof ~]er,fare t~~S rtiu~tydg8 ...y ,k•, u~.•:1 ',e~eGy d.ie anc; pavaUie lort~~w~tn ar~:] ma~ a' ~ts op!~on pro~_eeA ;o furec~~,se th~s mortyaye ~ T:, ~~,~r .~nd ti:~~yu~ar tnr ~ usts tees Chart~P.s dnd B~pB'~SB~ O~ B~ery k~r.d ;,~ciuU~n4i Ine ~.ost ot an abstract of t~tle tn sa:d lands iuw~d to De con . r; ,r¦~~r~n,r~~~ ~n , ~,n~~~~ nu:, wr,h ar,` surt (or thr turecios:,re r,f tn~s ,nu~iyaye er.d a'su ~nuud~nq w,nether the Murtyayee ~e o0l:y~ted to pay same or •.,:,~n;ih~.~ _i!rur~~ry s fees ~u ur~ea u~ expended at anr t~rne by the Mcrtyagee Ce~ause of the ~a~~ure o! tha Mortgayo~ to perf~~rm compty w~tn a~~d ab~Ar . ~ ~ ~t~,y c.if ?hp uvan,~n;s ~ uiu2~?~uns dnd st+putat~ons o~ sa~ct prom~ssory nate or Ih~y mo~tydyP us ihe 1qrgC!uwre of T~~S mortyaue a~~d in COIIBCt~ny ~ne i ,.~~•~t ~~errD, w~!~, o* w t~c>~,t ~e~)3! U~~~~eeA~rys a~~A tr~ +e~mb~~Se tf:e Mortyagee fOr every pd~mEM m~de or mcurred fo~ any s~cn purpose wrt~ ~n •~„r~, ;1.~!~. ~,.rrr tiu; ;,av".ent at tr,P h:ynes± ~ate auth~nred Gy iaw s~,c~ pavments enA oD!~ya!~ons w~th ~nter~st tnereor~ as ato~esa~d s?~a1i be t~y t`~r ~,~~re~){ R k?e~i t~~e t,~.,~~d ~~y u~ bu+~~1~~~ys ~~ow or ne~eahe~ o~ sa:d ~+~su~ed aya~nst ~oss o~ Aamage Dy ?~~e eaterded coverage a~~d c+.he~ i~e'~~s ~ ; riJ• •~SR ~r'~~~,rd'+l:P ;f dvd~~dbiB ~rl 0 SuT ~~U1 i@55 ihdn i~Q~~ ~u~i ~nsu~ab~e va+ue at the ce,s! and expense of the ~1/~Of~9u^~O! it1 d CO~Ud~~y O~ compan~es .•.;t t,y t'~~• ~.~:~rtad~)PP I!`r pUli~y O~ pO1~Ci@5 SO bP, held t]y !he Mortgdyee d!~d Su( h;70~~( y p~ pOl~i:i~5 O} ~~s~ran;,e sh~ll nave a(f~¦ed thereto a SSd~~~lard M„•!y,~,~e~• C~dii4k3 ~*~ak:+~y a~+ loss o~ iosses unde~ suc~ poi~cy or poi~c~es payable to t~e Mortyayee as ~ts +nte~est may appea~ anA eo dei~rer sa~d , thr. Mo~tyayeP wner ~ssued w~M the ~ace~Uts ~or !he paymr~•t o~ the p~eR,~um therefor and ~n t?~e event ar,y sum o} money flecomes u~t~7~" S.:i [)u~,: Y~>~ 0~%!'~°~-'S tne !Nortyayee snail have the out~on !O ~CC@+vQ dfH~ d(iV~Y ~~~E' S8~T1Q On .iCCGlr~1S O~ 1h@ ~ndebte~ness ser.ureA hereDy a~ 10 ~ ••hr ti1r!rtqd~)U! 'i, ~Ai_B~ve d~A u58 it O~ anv Part tne~eat ~O~ Oth@t pUrppS05 w~thuut the~eby warv~ny o+ impa~~~ng a~y eQu~ty ~~@n pt ri9h! urd@r Or by . ~"~t lh~S "~~~,r!~_~d~~p d!'~~j !!:R Mortyayee ~t deems ^@CBSSd~~ may P~ace and pay ~o{ such inSUfdRC@ ot dnY p0~t thergof W~1h4U~ IOS~n~ we~v~ng O{ affec a.~.+.~ c~.~rv~n tn f~ir:,rincp ~nr hrNanc ~~l tn:c t'pvnnanf t~r Ant n0/1 1I1PIB0~ (~f a/~v r,pht O• [ipt~0~l under th~s TOftqaOP. d~14 @V!'~v SuCIt QdVTBf~[ SI1d~! ~'''E S! •!dfP '.~'~P~~'U~ v^2+' (?d+'1 d2 Sh@ h~(~h@5l ~dSp ButhOri2rd by ~dN' dnd d~~ Su'..h ~)3yrT~Bf1iS Wil~ tflfQfQSI d5 d~0~@Sd~O Shd~~ De se.ured Dy i~e iiQ11 . ~ : ,i~~~ : ;ss .r riarnage ~s s~f!e~ed Mo~tgayo~ sr~a!+ r,ot~ty ~1o~tyayee ot s~c.n ~,~ss o~ darnaye w~th~n ~orty e~ght !48+ ~uuis afte~ !ne naPpen~ng • ~.i' , ~r~ 5„ n•~~,,ce sha!t cr,nst:tute a defau~t ar~d !he Mo~tgayee st,dt: heve the nynts here~n g~ven trr• a~~ de~a~ ts ~ 1 u• ~,~!e~ ^o .~vds!8 an~S to ma~^•td~n the ~mp~uveme~~'s at ai: t:mes •n a state o~ gcwd repa~~ and cond~i•o~~ a~d to ~o o~ pern±~t to ~'f~-: ~.n'.iES .r,q rr,~r W~,+ d'~te~ o~ =hange tne ~.:se and cna•acter O) Sd~d prOU2~iY Gr •r, an~ yya~ iT.p3!r o~ vreaken ihe secur,ty of Sa~~A r-:o~tgage . •.•~,,ed' r• ."db~::Sy' Of 'hA Mortgago~ t0 'B?d:r d^d md'n!a,n Sd~d prUpQ~1y tne Mc~r!gagee mav at ~t5 Oat~Qn mdke S~ch ,epa~/S O~ Cdu58 i~:~ d•.~j^ e.on~ys ;r. tnat Der.a~! w!~:cr, Su^~.s sna~ be sec~:+ec, bv tne ':en nereof ard bear ~nterest a' the h~g~est ~ate euthonted b~. .a!,s~~.+ anst~acts c' t•tie co.e~~ry ~~e mO~iy3yPd ;,rope:rr !o Mo~?yayee o~ ~ts des y~~ateo age{~t wn~:n s!'~a; at a~~ t:~es tlu~~ng ...:s • ~ ~.i.;P n•~,e p<~ssFss,u~. rne Martyayee anA .n eYent o~'.17h ;UtP.~~os:,re c~e ~h~s ~nor,gage or other t.dr;s~er ot t,•;e a'~ r.ynt t.•;e anA N~,1 ,:;,~;;~~r ,_7 !u a~y Su~~'~ a~st•ar.! o+ ansuacts u' t~t:e sha~~ Aess !o tnN p„rr~~ase~ or qrantee .~:<f' ~.tid~.r.• Or e~~~, :.r,~.e•,a„t .'~ere~n o+ ~~r• t~.r oL~~~at~u~ sec,:~ed ~e~ec~ti s'~a~.~ ar a~-y ,,,,•e ~~~e~ea!:e~ be ne~d to te o wa~.Pr ot a~y ~t tne otner ~nr •,ute se~..;,•ed nereoy o~ ~uture wa~~e~ o} tha sa~^e c~~er~ant !o dc.._e.e~ate 'he mat~~~ty o~ !he ~~~deb!ed• ess '~~•eU, se~~roC Ue<.a~:se o~ t~• !a'u~e o~'ne Mo~tgayo+ to Day any ta¦ asSessTe+~t ~ ,~,~~..~e!.~.~~. •~''"^:~~!`~b'd^CC vDGn Sd~O PiUUCr(y d5 ~C'@~n prU~~0e4 ~~S S~'a~~ ;.U! I~ ~`@Ce553~y ^Ar rEQu~S+IP ihdf ihC MO/Syd98B S~dii !~rst Day tne same ~ ' 3 T^~! ~^f• Mo~~yay~:~ shai~ ~a~! neg~e~t o~ ~efuse fc~ a pe'~ucf o' t~~rr, 30; aa~s a~~d Grompt!y to pay the arnounts ~eo::~~ed to ~e pa~0 Dy the . .•aLi S?C~:•N7 O' :1B ~~iN~est ihe~e~n sDe_•fiNd O! any u} ihB S~'r.S O~ m.p^ey hCt@,•; •Bf8'~8c1 :O Or hCt@Dy SBCU~@d O~ otherw~se duiy }u!ly d~~ QtOmplly t0 c_c~~._~~;!f! ~..G'np!y W+th and ab~ae by eacn EV@ry O! d~~y ot thB CO:Pf:d^?S C.^,nd::~GnS O' S:~puldDOnS Of th~5 T0~1Q8(;@ 1hE p~Ol^iS50^' "OlB hf~Cby i ••.1 d~.d p• •'~E? ConSI~,~Ct;On ~^vd~ dareement Af:y 7hSn and :n e~S~Er Or :n dny O! S~.:Cn @~@~!S .hiI~KX~f ~10t~CE Of dAIT18~td [ilC SA~ aggregate sum men sa~d prom:sso~y r.o;e !ess prav~ous ~ayments any and any ano a:~ s~ms me~~t~oned nere~n o~ secured he~eby sha~i become due and paYab~e ~ u~ L~e~e~+te! at t7e cont~ :~~ng opt~on oi the Mortgsgee as !u,~v ard comp;ete;v as ;f sa~d aQgragste sums were ong~na~ty st~pu~ated to De pa~d at -.-:e a~~y!n~nq ,r Sd~o p~0~~•+SSOry ~ote or nero•~ to the cor•t~bry notw~!nscand r~y a~~d tne Mo~tgagee shall be ent~tied thefeupan or the~eafter w~thnut ~ • r~:e~^a~: ^st t:,'9 s~~t at !8w os m egu~ry to @nfO~ce the r ghts o~ t~e Mo~tgagee hcreunQBi Or untltr Sa:d prom~ssory nOte In thg event O~ 8~y - ,r ~~r..~-h p~: rne pa~+. t+~e Mor,gagor nereunder o~ u^der sa~d prom~ssory note the MortgaBea shsll h8ve tne cont~nu~ng opt~o~ to en~orce pdyment . i~~~5 SP~~'~'d ^.~!'HD'i ~)Y dChQn 82 IaW O' ~y SU~i iR BQu'~f~ !G ~O!QC~OS@ 'h~S ~Or!gage 2~(h@f O~ ~OI^ Len_u~{entfy or Ol~'8/W~SC 8!~C~ OnC aChOn pr SUt1 g . , r r r r * ~~1 md,!•. ~ ~ e::a!e n, c;~ a~a- !o c wa~~~e~ of tne Mu tgaga~ s*~gn, to st:t~te o~ ta~r~ t':e ot~er pr~v~ded sa~0 Mo~!yagee snai~ nave o~~~y o~e Paymer~t a~,d . ~ f. (:pr: Sd~d .n•12C~2P.d':QSS i 4 ~ S T'tdS Sh@ PvenT Shd1 ~O~;~j2t~0~ S~:d~~ 1~ CJnSb~t t0 :he aVU~~"~~e~~? U~ a'ece~.ve~ i~USiBf Of h(~,;~dacor o} aii or a sutrsta~nt~a! pars o1 !~Aortgagor s ~ ~ 2:,e aa;~~~~cacer7 a Gar,:r:;pt o~ ~nso:ven! or f~!e a tiG~ur,(a!y p6Gi J!~ :f1 Dd^kr~p~cy o~ a~mit ~n wrrt+~g ~ts ~nab~!~t~ to pay ~ts debts as 2ney Decome g ~ ••3 a+~~ a:~e~~e~a~ eS5 gn.'T~B-~S ~Or tr.e oenei~t of crea~:ors o~ i4~ !•~e a Uet~t:os or a~swei seek~ng re~xyamzahon or a~rangement w~th ~red~tors or to k • ~~~e^~aye o' d~Y '~SO~ve!~CV 'dri o~ ~5~ ~~~e an ansvve~ ad~~t!~ng tne macera~ a:e~}at~o~s o~ a pet~t~on {~ied aga~n5t the Mortgagor ~n any bankruptcy ~ rac c,r. o• .nso.:ency procee~~ng o~ ~.6i act:un snai~ be takar~ ~y tne Murt~dagor ~or the ~u~C~SE O1 8}fECUn9 8ny O} 1h8 ~OrR90~~ U~ i7i any order ;udg fec~ee s~~a~~ t,e erte~ed uU~r~ a~ epp~:cet~On o~ a r_red~!Or U{ 5r1o~2gagur Dy a ccwt O! cuTpetent ~u~~sd~ctiOn aFprpving a pet~tion seek~ng aDi~~nime~+t ' e..e~ o- rustr.e n~ a~~ o~ a so~stanf.a' pa~t of the Mortgagor s assets and s~..c~ GIdP~ ;uogn-~e~t or decree sha~i tonhnue unstayeA a~d ~n effe~t fo~ any ' . ;~~l ~n,r!y JO• Ct~•~SNCUt~,B d8y'S ?~@ M;,rtgagee may t7auare ;h~ n01@ hN~CDY seu~+ed fv{!'~w~th due anA pa~a~ie whCr~~ppn !hP pr~nr~pa! pt dr.d th~ ~n E ~ s~ acc~ued on tne noce and a~~ otner s~m3 nQreby sewied sha~! beco~~~e ~o~thw~tn d;,e a~~d payab~e as ai~ o~ thq sa~d sur-,s a~ mOn~y we~e o<<g~na~ly :'afe4 to tk ,~a~A o~ such Aav and t~~ereupa~ the Mortgapae w~thout not~r_e or ctemand may prosec~te e su~t et iaw and v~ ~n equ~:y a5 ~4 3I; mpn~~5 ~ •pt: r~C'nur r~d:l ~^~t~,.rPij D'~~C~ !G 'S '~~Sf~1;:t~Un $ 5 ~ e• ...N R1,_,••..~a,,~Fe a,,~ pP,scr. a.,,•,~.~ te.: Gy ~^e 41u~•,aaq„P 5•,a ,..a.•. t^e ~ gnt to e~ ta• u:~•,,, a~~d ~s~:e~t •ne ,..:o,:yayed G~em ses at a~i `F .~'.d• d~'r 5~.,;r r?t S..:rT:S hf'~ '_n 'ndy :i8 il2"Pd G' d~.dnC@d Uy !t~B !y~r~~.,~~y~o .L .r,~ ^~::"~djj0' di d'~~ bmE: W~Ihin !K@1Sy !2~; ~2d~5 i!p'7~ f!~E d81C '~'~•5 ,._,~B "~ya~r..N, y,~,~r. ,.;~,,:y~~ rr~y~8on Bt t'~g ~ate a6~@Ed ~(1C~n dt !~~E 1,rnC qf 9:."h '~vdn O~ aAvdn~e sna~~ be eG,,aiiv sec;,rev w~tn a~d na~e me same ~ es , j ~Pt ~pa,:es~ a~:~: pe s.,b;~.+ ~o a!~ ~ tr.~ms a C u•o. S r.,s c t~•,,s r ~ yeyP ~un•..ae,f tna; t~,e aggre3ate a~naunt ct pnnc,pa o.;isran ~ ; i a~ e . , f oa »e ~ S } tt,e e.~:. y t~ a^~ s^u! r,: o e'eJ t! er an arnu~nt e+~.,ai tv G'~r hu^4rPd d~~d ~~ftr Der rent • 7 .1 r:+,}.,: •rr~ :~y ,I{,~,.~e~jC9 '~C Sd~i] Mtir!~d~Or W~:: ;idY ur:tu !hE ti~O~t~eyf!C (in 1h@ ~•.rSi Ady Of rdCh and ere~t~ co~,sec~t~v@ 'nt3^II+ 8 Sum . i.. '~.v.~in :r:f! d^'~ud'~ d^?•i.ur~t nBCPSSd^r t0 Da~ d;: idae5 d"~d D55@SS^'~@.^t5 aga~~s+ !~B Sd~~ mortgageci pre~~~ses Sdi7 m0~`.thiy Su^~ i0 bQ @S E ' ~•"r~ S~:~F,y !;V ti~~-~,•'~dU?N <.a~~c~~ate~ to Ge an d!^6unt ^.O' ~BSS t!+2~ !^e amc~:,nr o! ta=es assesse~ aya;nst sa~d mo+tgageA pre~~ses fo~ thg VreVrOUS ~ a• 1!..•.: e~ -~,;.,.~Nd !>y '~!r;"yayee so ~~av a:! ;ncu.a~ca p~e.^ ,,~ns ^:a~~~e~ a~~~'c~m as p~nv~ded ne~E+~, for the paym~nt of iaxes and assessm~~ts _ ~ A ~ a, ~ ..,,s , , .,,,~~4 .S . ~:(:':".prl:fn ,~,~tn ; r;nst,~c~ v^ cA~ ' ^a~r~rp tr;en ~h~s martpape ~s sub,ec: to the Co^str~,ct~on ~oan Aqreement <<~ betw~e~: ~nn Mrrfgagc~ a~~d ~nr Mo-tyagee an e.ecuted copv ol wn~ch ~s -n tne ~ossess~en of :he . •'ad~.~Be e'~~~1 ~S .-~.r r,'U';'dV:.`J ' F~r•.r. ~r~ r~~nrn•,:=n dr~'] r'^ddP d p3!' ~~~a'C~~i d~"i dP!d~,~•. GV hr1~i'T~d~dO' undf~ sa:A ag~eement Shdil CU'~S1~fu:@ dn CvCnt O~ . ~ . ~.t , , . , .g , ''~:~y8 . r~ ...,A. e•_.r. ~fl:~~!~~~:_j'~r ~,r~,: 'ct? •s.:j.~RS. n,~ !frY;yd{jgn f~.~r'~~ S!: A.'`r..rpn ~!dtPr.?s±r~! 01 ihP d~tOUni OW~II(~ 011 th9 Obii~dhOrl WhiCn ih~S TQtt~d~@ . , 1~ . ' ~ .'n'a ~.ti..~...a. , !qe'y~i' .'d~ -5 d^r ,SP~r-rSr,g .:1t;prS •n(..rpTp t~ 11 n~~ £oL~ 5~9 ~.,~:E ~ ~ _ ~ ~ _ ,i ~ ; ~ - ~ - r "