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<br /> 7`7� OOt1957 .
<br /> .s � � � The MortRagerr,mey collect a "lete chnrge". . not fo �eaceeil fiva. Cenls (Sc) for . euct� �dollar ($I .W} . ot e��ch total munthlY � � � .
<br /> � i . . � . . . .. . . .
<br /> �, � � � � . . pnyment-morreihnn 15 dava �in � nrrrare� .to cnvar th�� rxtrn rx�Hrnsr imolved � in hnndling delinqucnt annunts.
<br /> ," i � ��. . All ��wymenls mud��. undrr �lir provisiuni . n[. ihix morlgnKe ur �hv nutr . herehy N•i•urtrl, which �may Ix• �iv�ustm�•d -ti� � int�•r��+l�. . . . . .
<br /> ;:, j� .� : . � � ,hnll �iint: in � tha. nFgrel:atr' m�er fhe . lenn thrrmf; rxce�Yl .thi�.. re�l�� thal maq. nuw br lawfully n�ntrncted fnr �in writin�. , . � � .
<br /> , �'� .� -� � � . . �. � . . . . . . . . . . . . . . . . � � . .
<br /> ' (� Il iK ��f1I1PP tigfeexi. �I1at IR CL9e u11V suit is hegWl l�� G�rccl�r.+e ihis rnorlKnFe, lhe Alorl�,o�;ce.� ils re�ire,rnlnU� eS or ussigns. .
<br /> ':! � ,hull .��af oncx br'. rnlitled (i� the �x�.e�ession nf��said prentises, miJ u��on � .���plication� there(ur. Ihe court in wIIICII 9UCF1 (ICI1011 SIINII
<br /> � � I��bruught or nnv jueige �pf- such courf; ritlier imterm� lime or v�entiun, is hereFiy � nuthorizal to up�N�inLa �oceivrr lo luke �rivaiy
<br /> ' : � � sinn 9t ssaid� j�mmisen, or to collect �the� renlh � theretrom; .nnd .tn .clo � and ��pednnrrsuch olhrr acts urmuy }re rcquired by Ihe onlrr � . � ��
<br /> - - i �� . � u! the rnuri �niakicig�:.lhe ap�minlmenh, �and � snid l�lortKuBor 6eiehy .woit•ec� any ttoticr � oF �urh :ipplit'atinn. nnd can�ents in fhr np. . . � . �
<br /> �'. �� pointmrnf nf. n :receivrr. -u�ion� fhr prorluction nf this mnrlFnl;e, wilh��ut uthrr evirlenc�•. � . . . � . . - �
<br /> .::. ; . . � . � . � . . . � � . , . . . . . . . . � � _ . ''�
<br /> ;` _ � . _� � �; . . , . . . � .. . . . - . � �� .. �. . .� . .. . . � . . �. . � . � . . � , :
<br /> ,t ��.1t is expressl}• ngreed� and understood tiwt tho i�iortgagnr shxll proceed� with ihe n�nstrsction �>( n bmlclini; on �snid pn�mises . �
<br /> ;� .cith uU reavonabin dispatch, and due diligence and shal4 pay (or anp and alt eztras nr L::RUhrxHuns ihnt he muy makl• in sxid
<br /> . f. . building, direct 'to� lhe � �to�lgaRee . to be disbursed. together. with. the money I�wined� o� advanced bysaid �torf�;ager .in conner�ion .
<br /> � � Hi1h` thisloan.. And , it is (urther ngreed : and unde�h�al � thnt it the� con�iruction ot said . bwiding tx•, nt uny �time, discnntinucd ' �_
<br /> � : � - � � or not cnrricd. on with � masonable� dispatch in the judgment� of the� Mortgngee, the Ainrtgngee� or twny . holdrrof . the said note nnd �. �
<br /> � Alortgage- may purchase� molerials ¢nd employ � workmen tu. prolect snid building, so ihnt th1. �ame shall �mt ;ufTcr from dr,preda- ��
<br /> � � ; linn . or the weather, or to 'compiete. said buildink. su thal it may Le used � for t}�r �Surpos��s � fur � �� lurh it is desi�;ned, under the sttid � .
<br /> pla�w �and specifications; �. that ull �.the sums�. so paid, ��ur . expet�ded. ahull be deemed lo� br �ndvunnes� lo � ihi. btnrtgagor, nnd sctiunrl� � �
<br /> , '�i .� � bY the suid . �xite und mortguge :u�d may� Ix applied. nt. �ihe option n( ihe said I�do�tKaqee, nr anY holder n7 said nole nnd mo�lgago . �
<br /> � . to nny ndvnnces lhimntter lx�rming due. F3ut in no ecent shall lhc . �iortgagee be linble� in any � ivay tn cumplete s�id . twilding � or .
<br /> 4`� � � � io pny �� for � thc rosis �of constroetion tkynnd . the advnnies of lhc� nmounts deposit��c3 for c:�id purpo;e; or I�wn��d h�� thc DlorigaF�e . .
<br /> for the construcUon - ot lhiy building. rind it iy fiirther ezpressl�• agnard and w�dorstood thut if th� �fortg:agor .shull fail to complete
<br /> •; '{ � � said building in attrordance with �he �. ugreemenls, blue prinls nnd sprcificatiuns filed in connrction� �+•ith this lonn or shail neglect. . �
<br /> ' � ` � � . � fuil or refuse. to pay for ihc ecsls nnd � es{m��es in rnnnection lherewith�, or shull . (Hil in any oth�•r o( the .covennnt�v hemin set. ft�rih, � . .
<br /> �, .. g � � then, . ut tha �uption of the A1or�gagr.e or of the holder af ihe note i+nd morfgn�c hcreia m(rrmd to, the Afortg�gec mxy declare siiid ; .. �
<br /> � � �oan to M+ in delnult nnd the entire xmount loaneci shull immediately. becomeduc nnd payxble and the prop�rrty hemin re[rmd to - �
<br /> '. � � shall be Seeurit�• fnr all ot the nd��unms und expenses incutred and made by thr Dtnrtgager in cormrclion ���ith this pmvisinn. � �� � � �
<br /> Without limiting� the ��nerali/y of the (oregoing, lhe �tortgngm shal! have llic right fo di•clnrr � that dN(ault hss Ix•em m�de � � .
<br /> .' � .� � � � � � and. ihe enfire indebteeine�s hereunderto }�� due sud paynble at once upon the hap�x•ninF o( any onr of� tho Inllu�vin� condilions: �
<br /> � � �'�, � � . � � (a) Thefiling of any lien ngninsf the property. whether claimrd lo br pri�ir tn the fint mortgaFe or subject therefo: � .. .
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<br /> *,`� . � (b) The �ntry of any judgment against the �turl�;sgor, .
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<br /> � '� �� �� . � (c) The � failum to. comply� strictly . witli zoning regutations, the provi,ions of the city huilding � cale, �ir i( nny s1nP � o�der � . .
<br /> " � � . is issued by. public authurities: � . .
<br /> 3 .. . � (dl � Any misvtntament in the Ie±rn application: . . .
<br /> . ::Y . �. ��. � .
<br /> , � . . (r) Any meterial chnnge in the plany nnd �pecificntions nat fint npprovrd in ���riting 1>y lhe Afurtgagee: : .
<br /> ', .._{ , . ( f) � I( work be drlayecl ot suspended for a periai of Ihirty i:i0) day:ti ���ilhout rau.c s:ilis(nctory tu- �hr MortgaFce, or � . .
<br /> .;.i+ . � shnuld the htortgagor fail � to cause work to lu� prasecvteci vigorously. . � . �
<br /> . ,$ . . . . � . � � ..
<br /> �" .� � . I[ . thc ASortKat;et+ declnrea the lonn to be � in de(ault under nny pm�•isions o( this prnvision, the JlortgaK��• shall he � under �� . . . �..
<br /> ��_� .i no obliqatiun to advanm any furlhet moneys hereunder cithcr for paymeni of �curk p�r(arnicd nnd nvderials nlmndy furnished, or -. .
<br /> ; ;-'j lhose tn tW furnisheci later 6y the ;�lortgngor. � _� � � � .
<br /> S It is understoud �nct agre.Kxl that the 1lfort�,�got will us-e all adeunces mude w�d�•r this mortgage to cr�cf a huilcling on � � � - ' �
<br /> i. �
<br /> , � '� viid premises in nttvrdunce with lhe pinns, spi�•ificulio�u �nd R�•nenl agrerments filyd in eunuection thorewith. ��nd herem(ore � : : � ' � i
<br /> ;: � approvid by the �tortgnKee. . � �
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<br /> ; ;� � It is undeistocxl nnd agmed Lhnt nll materinls deli�•ered upun M�id premises tor the purpose o( FeinF incorparati�d in tho . - . � �
<br /> �;:j� building shnll fx cunsiderecl a pnrt nf the buildin�;. � � � � -
<br /> :-�� st � � � � : � �
<br /> ' � z liorlqagm ngrees to make adv�mtts under fhis loan (or thc consln�ction o( caid 6uildinR from timr to lime ns ugreed � � . �
<br /> � { � belwren the parlies hrreta � � . . , ��
<br /> ;l ,�y . . � � . . � � �
<br /> ` s' ANll IT IS L•']:PRESSLY AGREED AND UNUERSTOOD that c�id �(IVllIlCBS FFl(lII I0.• pnid only �� h�•n in ihe judkm�ent
<br /> n( the rtorlgaR�� ull work usually done nt the stnge of a>nstruclion when lhe ndvance is mude pnyablv shnli hi�ee Ix•en done in n � . � " � � � � �
<br /> goal and u�orkmnnlike mnnncr, imd nll materinis and fiztures usunlly furnisheel and installed a� that timc• shail huve Uc.m fur- , � � . � � � ,
<br /> nished und instnlled; but the htod�agee may ndvnnce parts, or lhe whole, ot any installments F.rfore th�•y trecume due, if the �7or6 � � � � � - �
<br /> . . gagir nhall lxlieve iL advisable to do so, and nll such udvunces or p�ymenis shnil hr deemed to Im�•r le�en made in pununnm o[ - � � �
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<br /> this agmement, nothing, hoN�ever: in this agreement shall Lxx constnird ns n d�lennination of thr ryu:dity o(. thi• wnrk. lnlx�r � . � .
<br /> � '! �,r materiels � furnishid by lhe htnritim�or or mntr:ictor nnd thr �lurttia7;ce shall M• uud��r no ilury nr ��hlieatinn b� makr . .
<br /> � - <uch dMcrminntion. . .
<br /> �-. �. y . . � � � .
<br /> . � . 'fhc \fortgugec ahall be subro�:nlyd lu ull of ihe ri�;hls. privileges. Priuritics. m�d equitiiM ul nny lienhuldcr whus� licm m�y � � � -�
<br /> � .� hnw• been dissfu�rRed irom tl�e prucredc u( this lo��n. ur hy nny (unds herc�by paid nr (urnivhed hy �hr ilfnrtgxgea � . . � � �
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<br /> �' IT I9 EXPRESSLY ACRGED ihnt if Uie hfortgagor shnil �ell. ��m•i�p or nlicnntc s:iid propert}•, or nny pnrt thcrmL
<br /> �� f � . ar any� interest t}ierein,-.or shnll }x divested o[ his tille or uny intcrrst � therein in any manncr or wny, wh�l}�er colwiturily�. or �, � . � � - .
<br /> '� im•olunlarily, �without wriften consent o[ thc Atort;;ngce bcing firet hnd nnd a6tiined. �[ortgaF�'�' 9h11IL �1:1\'C the ri�ht, at iLv option. �. � � -
<br /> .i.� . :i� . . . , � . .
<br /> �.: -; to declnce any indebtedness or obli€ntions eecun.d hereby,- irrespirtive ot lhe mnturity date speci4��d in any nole evidencing the -
<br /> '- ��F � eame, irtunediutely due and pnyable ��'iihout notice, nnd s;ud drbt shall theroupon becume. nbsolutr. [f fhe o«�ner.�hip af lhe mort- . �
<br /> " > i gnged property bernmcv vestc�l in a pe�son other than the Alortgagor. .the rtort�^agee mny. �rithout notice to the hlortRagor, dral � - . .
<br /> , ;;; with such su�ressor. or surcrssors iainterest with refemncti to this modF+�Fe nnd the debt here6y urured as H�ith the 111ortknguq . . � �
<br /> . .:�� - nnd may [orbessr to sue or mny �eztend time fur the pnyvnent of the de6t Ismby secur�d withuut disch:v�ing ar in nny wuy af�ecting � �
<br /> �:;�� the' li�bilitg oi the originiil htott�agur hercunder or upon the debt secured. ` � . .� �
<br /> z - � � � . � � =�,.� i : : .
<br /> In � this instrument th� singular indudes lbe plurnl .md the mu.culine indudi� lhe frmininc und th�� nrulrr nnd � Li� in� ' ` . ^k ��
<br /> . ' .}�� �� +In�mrnL+fmll bebindin� upun fhr widrrxiKn�d: hi± hrir+. �rsonal rcprccrntr�tivev. suiYti•sa�rc and ns+i�ns. � � • � � � ' N �s � '� .
<br /> LS `T7C► ';
<br /> �.�. . .� IN � �VLTNFSS �\YHEREOF;: wr. have hereunlo ecbnur hands and srnL �ho d:n� and yc• (rst nlx `p w�ritti�n. � � �
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<br /> . . !n the prrsencr o(: �. . . . � . ; �" ! ; / j � r' 4} t :.
<br /> � _.. ��at�'.... �t,f��-_. -'c� k.��. . _ _ . �
<br /> Mark 91an Douglas � '`
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<br /> r (rl1�iZ`/' �_ �� '�:�!,+'�1::�� ._ _ _.
<br /> J.udith K . Douglas -
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