|
S � ` . i�
<br />�r;` - � �;"4
<br /> w l . , y1�
<br /> a . . '. . . . . . . . . . . . . . . . . . :.• "',ry;a'�i
<br />�` ': 76- U053LU � �
<br /> � .
<br /> MORTGAGORS MAY MAKE PREPAYMENTS OF PftINCIPAL ON ANY INSTALLMENT DUE DATE. SUCH PREPAYMEN7 SHALL DE
<br /> APPLIED TO INSTAILMENTS LAST TO BECOME DtIE UNDER THIS MORTGAGE PROVIDED THE UNDERSIGNED ARE NOT IN DEFAULT
<br /> AND ARE THEN THE OWNERS OF THE MORTGAGED PROPERTY, UPON REQUEST OF TNE UNDERSIGNEO, OR EITHER OF THEM,
<br /> PAYEE AGREES TO FURNISH TO TNE UNDERSIGNED 300% OF SUCH PRINCIPAL PREPAYMEN7S, UNLESS ADVANCEMENT IS PRO•
<br /> HIBITED BY 7HE REGUI.ATIONS OF CHARTERING AND SIJPERVISORY AUTNORITIES THEN �N EFfECT. ALl SUCH ADVANCEMENTS
<br /> SHALL BE SECURED BY THIS MDRTGAGE IN THE SAME MANNER AND EFFEC7 AS IF NOpREPAYMENTS HAD BEEN MADE.
<br /> ' TH� MORTGACOR FURTH�R COVENANTS AND AGREHS:
<br /> I : -
<br /> � � . '1'l�nt th�� � Murtgagor will �riuy thc �indebtrdness as hnreinb��(ore pruvidrd. � . � � � � �. � . . . . . � .
<br /> �� � Thut � the Murtgagor is lhe uwnnr of aaid property in fre simple and hxs �;oud riFhl end Iniv(ul aulhnrifv t�� sell and � � � � � � . � . .
<br /> . com�ey the snme nnd that the same is Iree and clear of any licn or encumhr:incr; .md ihat lforl�;ngor will �+�arrtinl vnel il�•(�•nrl ihn � � . � �
<br /> tille �. to � wid premis��s aR+�inet.. the . cluimK ut ull �Persons ���homsoe�•er. . . . . . � � . .
<br /> . � � . Tu pny . immediately. when due � tu�d pnyablrz ;all gen�ral t�xes, specinl tvxee, speci:tl xsaessm�nta, wd(er cl�arges, sewer srrv- � � � � � �
<br /> ice� chnrgwa.. nnd niher lnxes and charqes ngninst snid proprrty. and nll t.ize> Ievied nn the d�•bt srcured Lereby, iind .to furnish �he - . � � . .
<br /> . A9ortgngee. upon request. �vith th� original or duplicate rr.ccipls thrrit(or. 1'hc Mort�:agur . agrees lhat (hnre shall 6c. added to � � � � � .
<br /> . c•:ich manfhly payment - re��uired hereundcr or under ihe evidi�nce ot debt secured i�er��by un nmaunl e:timated by tLe .titortgugec � � . � � . �
<br /> to Jie sidficient to enable lhe A1or�gagce tn pay. an lhey � 6ccomc due. till tuxes. ��s5cssments. nnd similarrhurges upon ihe pn•nt� - � . . � - .
<br /> . i�cs subjecL then�to; anY deficiency bi�cause of the i�sutliciency o[ such nddilinnal p.aYments shall be furlhwith deptisited J�y the . . � . .
<br /> Altirtgagor� �eilh ihe D4orlgngee upai demnnd by d�c Afurtga�;er.. Auy dc•faull widrr - this pi�rugraph shull hr det�med a dcfault in � . . . � �
<br /> r � payment o( tnxes, assc+smenl�a,- nr similar ch�r�;es rrquirrd hereunder. � � . �
<br /> 'I'he n-lortgngur . nRmes tha�. tLero sh.ill Edso 6�• added la i•�ich monthly pnyment o( principnl and inten•st requirerl here- � . � � . . �
<br /> under nn nmounl estimated by the Aiortgagec tu be su(fir.irnt to em�ble tLo A�lnrlgagec tu p;�y, :�s it Li•comrs due. lhe insurance � . . .
<br /> � premium on any insurunce policp delivered ln Ihe \]i>rtga�;ee. Any deficirnc�� becnusr- n( lhe insu(ficioncy o( such additional Pay• � �. � � � . .
<br /> _.� � � � menLs shnll bc+ forlhwith deposited Ly . thi� b1or�gngor with lhe Mortgagec upon dom.�d by Ihc Dtort�;.�kce Any de(ault under this � � . � .
<br /> . pnra�;raph shtdl Ixe dcc�ried n default in thc pa}'meni u( invur�nce prcmiums. I( tlic policy nr policies di�pnaitrd nre such us homc- � � . .
<br /> uwnen or all risk policie., �nd the drpnsiLs are insuflicient tu pay the entire premium, the p�forlg.��ee mny npply i}��. �������Sit to � � � �
<br /> . pny prrmium�; �in risks required to be insured by thia mort�nge: . � .
<br /> . . Yaymenls made by the \�furt�;agor under thr. abuve pnr:fgraphs may, at the npliun o( the Morlga�;re. be held by it. and � � -
<br /> _ commingti�d �vith other such funds or its own (unds for Ihe pnymenl of such items, and wilil tin appli�•d, such paymr, nis are hereby �. � �
<br /> � � ��Icdged as sec��rity fur N�c unpaid balnncc of lhc mortqnKe indebtedness. � �
<br /> �� Tu procure, deliver 1��, nud mainluin for tlie 6enefit uf the hinrt�;agee durin�; fhe life uf this rnortgt��e ori�ir.al pnlicies ;md � � � �
<br /> � renewnl�; thercK�t, delivered at Ir•nst len days be[ori• the expiratinn of ��ny such policir. s, insuring aguinst fim nnrl other insur.ihle � - �
<br /> hazards. ca�tualties, and coNingencies us ihc Mortgagec nu�y n•quire, in an �mourrt equ;d lo ihe indrbtedness secured hv this � � � �
<br /> ; ' � ,ltortgage. nnd in cumpnnies uccrptable to thr I�-1ortKngee. w�ilh in,c payable clnuse in favor uf and in fnrm accep�able to the ltnriga- �. .
<br /> � gce. In the event any poliry is nut rcnewi•d on or befure ten d:ays of its expiratiun, the �torl�a�;ee m;{y prMure insurance on the ' � � �
<br /> ti ' � im�>rovemenfs. puy lLe premium there[or. and such sum shnll becume immediatr•ly due and p:iyeible with interest at ihe rt�tr set � � � � � � � . �
<br /> . forth in »aid note until paid and sh:dl bo srcurerl by this mort�al:�'� N�ilure on the part nf �he Mortgngnr to furnish such rrnewals � � � �
<br /> ,;� . . as t�re herein required or failure to pay nn}• sums advnnmd hnreunder sh�ill. +it the option o[ the Mortgagee, cnnxtih�te ;� drf.mit . " �
<br /> �� under lhe terms ut this mortgage. 'Phe d�•livery of such pnlicii�s shall, in lhe event o( drtnult, constit�di• an assignment of the un- �
<br /> i '
<br /> earned premium. . . . �
<br /> r-. . . . Any sumu rnttived by thr blottgagec by rrnsun o( loss or damaqe insumd .�gainsl may bc rr�nined by lhe Dioct�;agce -. .
<br /> ' nnd applied townrd the pnymenl o( the debt hereby secured, or. nt �lic optiun of the t�torlgn�;ne. auch cmnv oithrr wholh• or in �. .. . . . . �
<br /> �_: . , part may be paid ovrr lu the htortR�Kor to he used tn rrpair such buildings nr to liuild new buildings in �heir pince or for any - � .
<br /> other pur{mse or object satiw(aclory to the �lurttiagee K•ithout aliecting thc li��n on the rnortgage fnr th�• full amount s�cured hrre- �
<br /> . . hy befure such pnyment erer t��k pince. � .
<br /> � 'I'o prumptly rrtpnir, reslore nr rebuild nny buildin;;a ur improvi�menls no�v or hrro.ifter on thr prcmises which may be- � .
<br /> � � come dnmaged or dentroyed; tn keep s:iid premises in ti�x�d condition and rep�ir .ind fmr (mm any mech;mic'c liirn or othrr licn ur � �
<br /> �` � claim o( lien nut espresvly sulmrdinnted to thc li�•n hi�reuL nnt tn su(ier ur p��rmit any unlaw(ul use ut or any nuisr�ncc lo esist. on � � �
<br /> ,; . tiaid properly nor ln prrmit wnste on wid premises. nor tu do any othcr nct l��herebq thv property hereby conve}�ed sht�ll hernme . �
<br /> .� - less valunble. nur to diminish or impair i(s value by any act or umissinn Iu i�ct : tu cumply with alf n�quiremrnit uf Inw aith n>spect � . .
<br /> i . lo the mort�;nged premises and the use thereo(.
<br /> a
<br /> s � � 7'hat should the prrmises or uny part therraf Ix� t;�ken or damuged hy rer�son n( uny pu���ic improvrmrnt or condemnntion
<br /> E -� � ProceedinR. or under the right n[ eminenl domain, or in uny uther mannrr, the A1orl�;t�gec � s6ul1 bo enlitled tn all cnmpensalions,
<br /> f� �, nwt�rd�, and any oLher payment or r��liet there[or, and fihull be entitled, at its np� ion, to cummenc�•. appe:v in �nd prcnecule in iLs
<br /> , own nnme nny actiun or procreding, ar to mt�ke uny cumpromise ur s�ddement in cunnection µ•i� l� such L�kinK ��r dama�e. All xuch
<br /> cumpensalion, e�wards, �huna�i�, right u( action nnd procrevia arc hi�reby nsxiAned tn �he Dtortga�ee, k�ho may, after deducting
<br /> � � lhemfrum nll iLs exP�'nsea, relc�sr any moneys su reccived by it ur apply thc s;�me un any indebledn�+ss secured h�•re6y. The \lort-
<br /> . P.eBor ngrees to execvte such [urther assiRnmentw of nny compens��linn, aaardti, dam:��;ex, ;�nd rights of :�ction rind procri•ds as the �
<br /> � � ; Mortgugee may mquire. �
<br /> i
<br /> �. � Thnt in cnse oE failure to pertorm nny of fhe rovenunts hercin, the Morlgugci� may do mi tlie 1lorigngur's behrii( evrrythinF
<br /> ' , >o covenenled; thnt the D7ortgngee may also do any ncl il may deem nece+,;�ry �o pmtect lhr li�n lhemo(; tha( fhe �iortgngor wili
<br /> , repay upon demnnd .iny moneys pnid or disbursed by the \lortgagee f<>r any o( the ahoee purpc�se+, and such mnnrys together w•ilh
<br /> - intr.rc.wt thereron at lhe rale provided in suid note sh�ill � Fmcume su much 8fI(II(IOItAI indeblednesa hereby s��curnd nnd may b� in-
<br /> �, cluded in nny decrce foreclusing lhia mvrtga�;e and h�� paid oul ut lLc rent� or procceds o( snle of snid premises i( not uthenvi+e
<br /> ��. : � pnid: thnt it shn11 not be obligelory upon the Diodgngee to inquite inlo Uie validity o( any Iien, encumbrances, or cl+�im in ad-
<br /> � vancing moneys t�s above authurized, but nuthing }ierein contained shall be construcd as nK�uirin�; ihr �lortR:4;<<• in ndv,�nce iiny
<br /> morey_ ror s.^.y e::ck pur{r�se r.o: :o do a�� act hcrrur,der: aad t};at \lortg�;;er shall nnt. incur ar�; per.,onnl liabilify becau<c of any-
<br /> thing it mny do or umit lo do hereundrr.
<br /> � In the event of the deiault by i�turtgugor in the payment uf Hny installmcnl, as requirrd by the Nute secured hereLy. ur
<br /> in the pedormunce o! lhe obligation in this mnrtgng� ur in t}��. nule socumd themhy, lhe . 6turtgagee shtill be �mlitli�d to d�K:lare tho �
<br /> - debt securcvl hrnhy due xnd payable wilhout nolice, and the I�tort�;s;;e� chall he cnlitled at itc opfinn, withnut no� icr, eilh�•r iry ileelC ; ! , .
<br /> nr hy a receiver ln Ix up��ointcKl by the caurt lhnnrof, and :vithout reg�ud to lhe ad�quacy of any �ecurih• (ur lhe inde6ledne�s se- . q -
<br /> cured hereby, tu enter upon and lnke paysession o( the mur(guged premises, �nd tu collect and receivr the rents, issues nnd pro(iLrs . � - � N "=?t:`
<br /> lhemo[, nnd apply the sume, Ir.ss cosle o[ n�mr-stion nnd crollrction, u�rm the indr.htedness si�cured by thi� murtgnge; said rrnts, � > �i'
<br /> - � � ivsues and profiLg f�eing hereby nssigncd tn the Mortgn�;ec as further acYurih• fnr lhe payment of :dl indrbfcdnewx 4�<•urcv! hereby. � �
<br /> d
<br /> � � . '1'he �tortgaRre yhaU hnve the power to appoint any ngrnt or r��;i�nts it m.�y decire fnr the purp�ne o( rrpairinF �i�d prrm• n
<br /> . . isas; . renting the xame; collecting lhe rents, revenues und income, imd it mny pay out ot x;iid incomi� all ezpi�nsrs incvrrcvl in rrnt- � �
<br /> � � inR and , manuging the � eame nnd o( collecting the rentals therefrom. 'I'he balance rrmainin[;, if nnp. uhall br :q�plied tuwF�rd the ' .
<br /> f. ,; �_ discharge of lhe morlgage imtebtedness. This :avriiRmnenl is to termin�ite imd Iw•cumo mJf and eaid upnn n•le:�sr nf Ihie mnrl�:�ge. � . .
<br /> ,;,
<br />�
<br /> r` � . - .. , . f .
<br />� � • �� , �
<br />
|