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HomeMy WebLinkAbout0439 tci?tl~~r tu 11?+• ~~1urt};u~;~•~~ i~~ u~~•~~~~1w,~r Nitl? Ili~~ ~irari:iuuc u( ll~~~ nul~• si~curt~~l li~•i~•1,~•, (ull ~~n~'iuenl u( tl~c cutiCc ii~clcl~l~~~lncss tc~,r~~sri?te~l Ili~~ri•I~~•, 11?~~ ~tort~;n~;~•e, «.a lrus~ci•. cl~nll, in cuin~~ut+i~~? 11?c ni+~~~~in1. of sucl? in~lcl,t~~~lui•s9, rre~lit lu Ilu~ n~•~•uunl of tl~~• !~I~~~1 ;n~;ur ui~~~ t•ri•~lil I,ninni~r trinninii~~; un~lrr Ilu• ~~rnvisiu~~s o( (a) uf sui~l ~~urn~;rn~~ii 2. 1( tl~~•r~• sLull 1,~~ u~1~•tuu~l un~l~•r un~• o~ Ilic ~~ro~•iyii~ns of lliis ~uurl~n~;~ r~•sultin~ in s ~~ul~lir. aalc o! th~• j~rr~iu~~•s ~•uv~•rc~l 4+~•r~•1?~~, ~~r if tiu~ f~1~~rl~;~i}~~•t• ur~~uirca t1u• ~~ru~u•rt~• ~~Ilu•r~cit~• ~?flr~ ~1~•(nult, tlie I~lurtgugec, n:~ tru:+t~•i~, slu~il u~?~~1~'. ~l Ili~ lin~t~ uf tlu~ ~•utnnii•nc~•nic~~l u( ~ucl~ ~~ta~•i•i~~liu~;s ur vl tl~~ lin?c lhe prn~,crt}' ~9 ollier~viy~~ iu•~~uirc~l, llir nnu?unl thcn n~uini~iiii~ !o ~~rr~lil uf I~1orl~;n~~~r un~l~•r (n) ~ii~rn~rflph 'l pr~•cc<1ii~~; ns n rr~•~lit ui? 11~i~ in1~•n•sl nc~•rui•~1 nn~l un~~uiil iuu) 1~c l,ulni~r~ l0 11~~• ~~rin~~i~~nl 11~~~~~ n•~u~~inin~; tu~~~ni~) on ani~l nutc, ~ Al~?stka~~?r H•il{ ~~tl laxcs, nt«~s~nrnl~, ~~nli•r r~lc~. ai~d olhcr ~uv~•riunrnl;?1 nr iu~ini~•i~~al ch:?r~~•s, (iu~~s, ~ir ~ 1?npoeitions, fur wl~ich proviyioo I~ns not bccm m~~lc t~ctcint,eforc, e?n~l in dcfault U~crcut tl~o I~lortgngcc tnt+y pay the 1 s:?u~e; aiid ~vill prouipUy dcli~~cr lhc official tcccipls lh~•n•fur lu lhc A1~~rlgag~~. . ; 1 5. ~1url~;a{;~r ~vil) ~~~~rinit, cu~ni~iil, crr suff~~r uu ~~•asl~~, im~~airn?~~nl, ~?r il~rl~ric~ralicni cr[ suicl ~~rc?~~crLy or ~ any ~~arl thcrcof~ exc~r~~l re:isc~n,?I~Ic ~~~car arnl Ir:~r, .uul in lhc evcul ~~f lhe failure uf the M~~~l~;a~;~~r lu kecp a the b~~il~Sin~;s un s.?icf ~~r+~mis~~s ~~n~{ the~se ic, l,e errctrcl wi saicl ~~r~ini5es~ c~r im~~r~~ve~u~i~ls lh~~rec~ii, in gc~ocl ~ rc~~lir, lhc Rtc?rl~,i~;c~~ t~~ay tnak~~ Sucl~ rc~~~airs ;?.s i~ti it~ c{i«tetic~~i it tn:~y n~•crssary fur lha {~r~~~~~r j ~~r~~secvati~i~ lhc~reuf, anil Ih~~ full ;uuuunl ~,f racl~ :uu) rvi~r~~ sui•1~ ~~aynu~i~l sl~all I~r clue .uul ~~ay:~t?le lt?irl.y ; (3O) clays .iflcr ~Ici»ancl, ancl sh.~ll I~i~ sccun•~I I~y lht~ lirn ~~f lhis ~nurt~a~;e. ~ G. Murlga4;u~ K•ill pa)' all and sin~ul:u lhc ~•ucl~. chargcs. :~nd cxpenscs inclutlin~ tcaaunhblc lativ~~cr's G•cs, aud cosls of + al~ctraclt of tiU~~, incurn~~1 ur paid :~l :in~• tim~ U>• th~• Al~~rt~~~~~c b~•~auci~ uf fh~ lailure un Ih~• parl uf th~~ A1~~rl~agor ' ~ prumplly :uid full~~ tu pc~rf~?nu th~• ~~!n•~~i~icnls au~l cu~r~ianl. uf ~aid pru~??is«?r~• ~?ut~• a~~d thit m~~ttga~~•, and said c~~sls, - cliar6cs, ~nd ex~u~ns~~s sh:dl Uc imnirdialcly dur :u?d p:~)~abl~• ruid ~li~ll br s~c~u~~cl by !h~ licv? of lhi~ m~?tlg~gi~. 7. A1~~rI~;:iF;ur ~vill cui?linu~,util~• n~:~inl:~in ha~:u~l insiit:u~c~•, uf suclt l~'p~• ~~r lyfu•s and :~m~+untc a5 ~1urf~;:i~;i•i• m~y frun~ linir lo lim~ ~rquir~~, ~in Ihr ini~~ru~rniw~lc iiu~. nr h~•n•:~fl~•~ ~~n said pr~•niia•~, and exi•~pl a~hi•n ~iaym~•nl fc~r all such ~~r~•~niums h:is lf~rrrluln~i• b~•~v~ ~ir~dr widrr uf p;~r:i~r:~ph 2 hrr,:ef, hc/sh~• ~vill ~ia1' pr~m~pll~~ wh~•n dui• auy prr~niunts ; llicrrfur. ~\II insurancc ~haU h~• carri~•d in cut?~~?a+iirs appn»cd I~y ~lurt~;:~~;~•~• and lhc pulici~s ~nd n~iiewals lhrn•of sh~ll bc lu•Id by A1utl~;a~;~~~~ :ind ha~•r att:ich~~d Iht~n•l~, luss piyabli~ claus~~s in [a~~o~ c?f 1nc1 in fortn 1ec~•pl:+hlc lu ihc ~9urtga~cc. In c~~cnl uf luss hc/shc will ~i~~~ iini~iccli:~li• nulicc I?~' n~siil lc~ Al~?rt~agcr, and Atnrl~a~~c may n~;~ki~ pru~~f ut luss if nul m~ilc~ - pru~npUy by Nutl~;;igur~ and ea~•h insuran~•~• ~•c~~np:~ny cunci~nu~cl i~ hcrrb~' ;uilh~~rircd and dirrcl~•d l~i tnak~ pa~•m~~nt fur such luss clirccUy lu ~turt~a~ec iiizlcad uf lu ~l~~rlgafi~?~ and {~luitga~i~ juintl~•, and lhc in~ur.vicc proc~~cds, or any part lli~~muf, ni~y bc applic4 b}• !~1~~rtga~re ~t ils upliut~ eilh~v to !hc reducliou uf lhe inctcbledi~cst (u•rcby s~cur~d cir lo the resioralion ur rep~ir uf lh~~ ~uu~ierl~~ damagi•d. In ~•~rnl uf furi•cl~~sun• c~f lhiz m~?rlga~e~ c~r ulher lransfer of iille lu the j n~urlg:+~;cd pruprrt)' i~~ ~~xtin~ui~hmcnt of ll~i~ indrbli~dncss «rurcd hcr~b~•, all ri~ht, titlc•, and intcrest of tl~c ~lurlgagc~r in ; and lo any inwrancc ~?uli~•i~•s tl?cu iit fc?rcc sh;,N p~.~s l~~ Ilu• putcha~c•r ur Kraulc~. 8. tf itie ti~s~ci?~is~~~, cn any ~~:~r1 th~•rc~c,( ~c~ ~~~mcl~•mn~~ci uiui~•r the ~~cia-~r ul' c~inincnt dom,~in. or ~ .u•c~uirecl fur a~nil?li~• u~~•. thc cl:in~a~~~~s :i~~•ar~l~~cl, lh~• {,rc?~~~~rcls [cn~ Ih~~ lakin~; ~~f', c»- tht~ cut~sitlcratio~~ [or i su~~li :~c•yuisilic~n, t~~ tl?r rxt~~nt c?I' ll~~~ full am~~~u~l uf Ih~~ ~'~~i»aii~ii~~; ~in~?aicl incl~~l~li~cliirs~ ~~~cur~~cl t~y tl~is n?c~rt~;:iR~~, :uc l~c~rcl~~' ~~titii~;n~~cl lu lh~~ i\lurl~;;i~~~~~, ancl hi• c~r h~~r hrirti ur :~•.i~;us, :u?d sl~:~ll I~cr ~r~icl furtl~tvilh lu s;?itl ~l~>r1};agrcr ur hi~ ~~r h~~r :~tisi~:n~~~• l~~ l~r a~~~?lii~~) ~•:i :~~•~•~u~n( c~( ll~e lasl tn:~lurin~ in,t:tllntcul~ c~[ such incl~~l~l~•ilni~ss. ~~[c?vi~li~cl, h~~~~•~~t~~•r. !!~c• Alurl~;;~{;~~~~ c~r his cn' h~•r ,issi~;~~~~c•, m.ry c?1, his c~r ; I~ci• cliscrctiun ~?a~~ ciir~~~•l lc~ ll~r ~l~~rt{:a~;~n~. hi~ I~rr h;•ir~ ur :~•si~;ns ;u~Y s~:~~~1 cn~ .~Il c~f tu~•t~ a~v:+rcl; ~~rc~~~icl~•cl, i1~,~1. it Ili~~ lu;in is ~u.u~:u~l~~~•c1 ~~r in~uri•~1. 'li~~ ~ ~~i~s~•nl uf I1~~~ ~;ti;iranlur ui- ii~sur~~r is c?I~I,iin~•cl i~~ .~clv:?nt•c ~~f s:+icl ~~:~~~n~rnl. i !1. 'y't,~ ~1nrtK:~~;re ~n~ty, nl nny tinic ~~~~n~linq i~ suil u~,c~n Ihis ~:~nrl~nRc, n~~ply lo Ihc court hn~•inR juris~liclion , ~ ll~crcuf [c~r lhc i?~~~~<~int~ncs+~ u[ n rcc~•i~~er, a~ti~l s+ir.l~ cr,url shn11 furlh~~~ith ~+~~poiul n rccci~•cr ot LLc prriniscs eo~~cred Lcrcf~y nll i~nd ~in~;i~l:?r, iuclwlinq nll nn~l ~inRi~ls~r th~ incunir, ptcifita, i~suca, aml rc~~~•n~tcs irom ~hatcvcr s~~urce clcrivc~l, cncl~ nncl rcrr}~ uf ~~hich, il 1>~~inq cx~~rrc:l~• un~l~~t~lcicnl, iv h~~n•1~~• murlRn~~il n.9 if spcci(icnlly sct torth nnd ~lcscril~cd in thc grur~tin~; nnd 1~aLcn~l~nn clnusrs h~~n•o(. ~uch n~q:r~inlnu~nt ahnll I,c tnn~lc 1,~~ ~uch court ns nn ncl~niltrd e{~uitp nnd n n?aller of nt~solute right lo ~ni~l ASurIKnR~•~, »n~i witlinut n~t~•rencr io thr, n~l~•~~uacy or iun~h•quncy of thc valuc o~ the propt•rt.y tnoriRnRcJ ot to Ili~ ~ol~•cnc~~ ur in~ul~•ruc~~ ui c;~i~! A1~~rtRnRor nr 1!ic dc~~n~l:?nty. :iuch ~ rcnls, profils, incorn~~, is~,i~a, nnd revcn~irs ~I~~II hr n.~~~~lir~l b~• ~uch n•cci~•~r ncc~rclinR to tlic li~n of this mortRngc an~) lhc prtscticc uf suc1~ court. In t1~c ~vr.nl o( nny d~fnnll ~n !hr ~~arl u( lhr. ~1ortRnq~v hcrcun~lcr, lhe I11otlRagor ~ Rg[CC9 to poy to tltc (~lo~tRnRcc an stcmun~{ fL.9 f1 tPR51ihIII)IC m~~nthl~• rc~nln) for thc pr~•~nis~s nn arn~~~~at at Icnst ~ equiculent lu one-l~+•elfth 1zl ~f the np~n•Ra~e o( ll?e l~c~l~•e mc?nthly 'si~stalliuertits paynl~lr, in Lhe then eurrent ycar plus th~ nclunl amuunl of thc nnnt~al t:?x~s, asscssmcnls~ wnt~•r rnlcs, t?nd insutnncc ptcmiwns [or such ye~r not covcrcd by tl?c n(ores:?id inonli~ly pn~~m~~nls. ~ IU. In the evcnt uf an~• 1,-cach uf Ihis m~rl~nRe or defn~~ll un tl~e ~inrt o( the 1~torl~~~o~, or i~ the evenl that ~ any oi S1l1lI 9111t19 IIlU11C)' II(`fr.in r~fcrrc~l 1~~ I,o not ~~rnm~~tly~ nn~l (ully ~~:?i~l a~c~~nlin~; to Ihc tcm~n c~r~of, or in tl~c ~ cvc~~t thnt cncl~ Rllt~ l•Yl•~y ~~1C R~I~)l1~111{~I14~ p~fl'C111Pq~9, Chlll~ltll)I19. pll~~ CO\'PIIAO~Y G( 5;111~ nolc an~l lhis moNqagc, ~ are not duly, ~?rc~mptly, nu~l (ully perforni~~l; thcn in ~ith~~ ur an~• su~l? cv~•t+t, lhc s;?i~1 nRRrrRntc ~um m~nlionecl in at?i~ nolc th~n rc~nnininR un~~ai~l, w~ith intrr~st a~crn~•J lo lhnt liin~•, ;Itul t~II tn~~ltr~•9 SPCUfc~I IlC[('t~y, slrall !?cco~i~c ~ Jue su~! pnynhfc furthK~ith, o~ lh~rcntl~r, nl lhc o~ition uf ~ni~) I~1url~a~;~~, ~s fully an~l c~?niplrlcly ~~9 if nll c~f the ~iJ eums of monc~• wrrc c?tiKinnll}~ Ftipulntrc{ to I~c p~?i~! un siich ~Inp, nnythinK in 4ni~1 nuic or in lhis mc~rtR:?ge to ~ ll~e cuntrnry nut~~•ilhstnnclinK; nncl thcrcup~?n ~~r tli~rr:i(lcr, nt U?c o~dion c~t saic{ ;~1orIR~Rcc, withont noticc or ~Icrnnu~l, s~iit nt law or in c~~uity, t~iny l,c ~ir~~~~~culi•~I ns if nlt ~nnn~~~v ~ccurr,l hrr~l~~• hn~l ~unl~~rcd prior to ils inslilu- tion. '1'I~e Atort~aRr~e ~nny fcirer.lo~e lhis murl~nRc, ns l~~ lhe nmounl so declr.r~•d ~lu~ nn~l ~~nyntil~, nnd lhe snid ~ premiscs shnU t,c Su1~1 la snlisfy nnct pny tl~c ~an?c tc~gMh~r nit{~ c~~sts, r~~x~ns~9, nn~l nllna•nnccs. In c:?sr o( pnrlial ~ fort~closurr, oi lhis murlR,:~qc, thc tnurl~~Qc~l ~~rrniises shnll I~c ~c~1~1 9UI))CCf l0 ~It:. C~3itt1i1111h~, IICD O{ ~I119 ?IO~~R~AC for lhc nmount ot thc ~Ict~t nol thc•n ~luc an~t unpni~l. (n such ca.5c lhr. ~~rovisicina uf thi9 ~i~rngrnpii may agnin be ~ avail~:~I of thcrcnftcr frou~ timc 10 limc by th~ ~luriguqcc. ~ t I. No wnivcr of nny covennnC hrrcin or of thc o1,liFntion sccure<1 hcrchy ahnll al nn}• ti;nc thcrcnflcr bc hcld to l~e a waivcr ot ltie tcnns t~crcot or uf lhc notc srcurc~l hcrcUy. 1''. 'fl~c licn of this iastn~mcnt gha{I rcmnin in f~~{I (r~rcc and e(TeM ~luring any ~x,9lponcmcnt or exlcnsion of tLe tiu~e ot pnyment of lhe inJeLle~lucss or nny pnrt tL~rcof securcJ lticrct~y. 13. If tlie 1~4urtgagor ctetault in any ot the covenants or a~reen~ents co~itained l~erein, or in said note, then the I~tortgagee ~uay ~~crfurn~ the same, and ~1) expcnditures (includin~ rcaso~iat~le aitorncy's ices) made by 1hc Mort- , ~;agee in so cloing shall dra~v interest at U~c ratc ~rovidcd for in thc ~~rinci~~al indcl~teclncss. and shalt ~e ~ep~yal~le tliirly (3U) clays ~~tter ilei»a»ci, a~~d, tvgelher ~vith interest and costs accruecl tl~ereon, shall be sectu-ed by tl~is n~ortgage. ~ 1•1. [1 `wn lh~~ rc~{~~~~st, u( ll~c I~tort~;n~:c~, ti?c Al~~rt~n~;ur ~hnl) c~ccutc nn~l ~l~~li~•cr n su~~~,li~n~~•nlul nolc oc 6 nutcs for ll~c s?un or suins n~l~•nncc~l ~?y cl~c ~lorl~;~~cc f~~r tlic nltcratiut?, cno~l~•r~?izntion, in~~iiur~?n~~nL, n~ain- ~ tcnance, or mpni~ o( sni~l ~~rc~nisr~, for ta~rs or a~si~ssin~isls n~;ninst thc Sn~nr nnJ f~~r n:i~• utl~cr pur~~usc nutl~or- s izc~l t?crcun~lc~. Snicl notc or »otcs slinil 1~c t~cur~~l 1~~•r~•1,~' on n ~~nrity ~+•ith nn~l ns (ully ns if ll~c nd~•ance evi~lencc~l lherchy were in~•I~iclcil in ll~e nule firsl ~lcscrih~~l nl~~~•e. `~ni~l sn~~~~l~~~iu~ninl nol~ c?r n~?l~•s shnll Lcnr ' inlcresl. at thc ratc pro~•i~IrJ (nr in tl~c ~?rinci~?al in~lcl,lc~lnc~s nn~l sl~nll l~c rin~•nb4c in npproximnt~ly equai monthl~' ~avm~nls f~,r sucl~ ~~crio~l ns ~nny I~c n~;rcr~l u~u?n b~' th~ crr~lilor nn~l ~Icl~tur. l~ ailin~; tc~ a~;rc~• on tl~c ma~urity, lf?c ~~lw1c o( tl~c sum or s~inis so ncl~~a~iec~) ~i~nll Lc iluc nn~l ~?n~•nl~lc thiri~• (:S(1) ~lays nfl~r ~I~•innn~l lry lhe cre~litor. It~ na eveu~ sl?all lhe tnnturit~• extc~tic! Ucyond tlie ulti~nnte r.inturily ot tl?e n~le first described sl~ve. 6~oK 674 PAGE 439 - , .r; ~ :.~~r~ _ ~