|
�
<br />'r.�. ` . 'i �u
<br /> TM; , ' . . . � . . . � . . . . , � 1 . . .. . ��'i'4. .
<br />� � � �- c,1o � � � � �1
<br />� MORTGAGORS MAY MAKE PREPAYMENTS Of PRINCIPAL ON ANY INS7ALLMENT DUE DATE. SUCH PREPAYMENT SHALL BE
<br /> APPIIED TO INSTALLMENTS U1ST TO BECOME DUE UNDER THIS MORTGAGE. PROVIDED THE UNDERSIGNED ARE NOT IN DEFAULT
<br />° AND ARE THEN THE OWNEFS OF THE MORTGAGED PROPERTY, UPON REQUEST OF THE UNDERSIGNED, OR EITHER OF 7HEM,
<br /> PAYEE AGREES TO PURNISH TO 7HE UNDERSIGNEU 100% OF SUCH PRINCIPAL PREPAYMENTS, UNLESS ADVANCEMENT IS PRO-
<br /> HIBITED BY TNE REGUlATIONS OF CHARTERING AND SUPERV�SORY AUTHORI7IES THEN IN EFFECT. ALL SUCH ADVANCEMENTS
<br /> SHALL BE SECURED BY THIS MpRTGAGE IN THE SAME MANNER AND EfFECT AS IF NO PREPAYMENTS HAp �EEN MAOE.
<br /> THG AdORTGAGOR FURTHrR COVrNANTS AND AGR�ES:
<br /> C •PhnY !hu I�4urtgnF�r will pny the in�le6tednea5 ns hera•inb��fnre providrd
<br /> '['linl t.he ?�1o�lgrignr is ihe owner of �nid property in fcc � simple. nnd hns pnud rigid nnd I�i���ful nulhnrity to sell .md � . �� � � .
<br /> i � cnnvey Ihe same and lhnt the same is frer nnd td��+v of any lien ur rncumV�rance: nnd ihnt i\iurt�ngur will wurr:mi nnd defrnd Ilie .. . .
<br /> � title ti� snid premisus ugain.st the . cluims o[ ail persmty �.•homsaev��e . � � . � .
<br /> . j . � . . .. . _ . . . _ . . . . . . � � :. . . � . . - � . .
<br /> � 'Pt� � puy immediui�tly wlien due. nnd ptiVflble nll gvnerut ttuey, special tazes, spi�cinl ay�etsments. wNer chnrqes, sewer �i�rt�.� . . : �
<br /> ice churges, xnd other lUzea and chnrgcs avainst s:�id property, and ull �nxes leeied un lhe drbt soi�ured herebp, tmd lo furnish the ' � . .
<br /> . � Alortgagee. . upun .rnquest, H�ilh � lhe original nr duplicnle receiptv th��re(��r. The Aforlgagc>r agrers that ihrrr shall . bu. .added to . ..
<br /> ench monthly {�nyment ttquimd herem�der or under ihe evidence uf debt sncumd hrn�by m� anwunt estimn�ed ly� tl�e i�lor�gagee � . � . . � . . . ..
<br /> - � � to bc su(ticient to enable the Alorigagee in p:�y. as Ihe.y 6ecvme dur. ��0 G�xci, assi:•vements, nnd similnr chur�:es upun the pn�m. : . � . . . . . .
<br /> � ises subject themt�r; nny delicienry Ix�causr uf Ihe in::ulticienry uf such ndditi��nnl p;�yments shall 6e furih�rilh depoiil��d hy. Ihe : � � � � .
<br /> � � t�1�>rigt�gor �ti'ith the. A3ortgagre upun di�mand 6y lhe :�torfgngre. An�• do(ault. und�•r ihi. p.arngra��h .<hnll be d��rm��d a def��ul� in � . . � - � ..
<br /> ���y � � , pnymcnl o( iuxcv. n>essmi�nls. or similar ch:+rgi�s mquirrd hrrrund��c � � � . . � � .
<br /> ' 't � - 'Che htort�;ugor a;;rees � ihni. there shall �dso b�• addod tu v��ch mnnlhly pt�ymrnl oC principtil iind inferest rrquired . hero- � �� �. � . .
<br /> � undrr an amount cstimatrd by the t�inrlgagrr lo be suliirirnl tu rnable �hc nlur[gagoe in pay, ns it hrcumrY Jui�, thr insurance � � . � � . .
<br /> ' premium on nn}• insurance pnlic�• drliaemd io the \inrf�ngve. Any de(icirncy bvcnuse uf thr insul(iciency of eurh odditionnl Pay- . .. . . . .
<br /> ' mrnte sluil{ lx. ,forthwith� depo.it�vl I,y th�� �turt�;n�;or �cith lhe \lortgngre upnn d�vniyid by fhr A1c�rt�:a�;ec. � Any drfault undrr this � . � � � . . . �
<br /> pnrogaiph yliall lu• deemed a dvL'+ult in the p:p�mrnt nf iucurmur premiums. If thr �wlicy or pnlicies drpositrd nre such :is home- � . . � . . .�
<br /> oH•nen c�r nll riek policies. imd the depavits nre insuflicii•nL to pny Uir entire pr<•mium, the A4nrlFa�ee m:n� t�pply fhr drposil fn � . � . . . .� .
<br /> ' pep• pn•miams on rixks required io be in>ured by Ihi.e mnrtgage: : - . . . �
<br /> i
<br /> '. i Pnymenla mnde by (he �Turfgagor under tho �bner p;�rty:rnphs may. �t. the optiun i�f thr �iorl�nqre, b� hold I�y it. and �, . � � . � .
<br /> - � cumminFlyd with othrr sach (unds nr ils u�an f�md; for I.he paymcnt o[ surl� if�m+, mid unfil sn npplied, sui•h pnpmrnts nrn herrl�}• � . . . . - .
<br /> pl�Yig�vt as security tor U�e wipaid � b�dmice o( the mortFage indeblednrs<. . : . . � . . .
<br /> E
<br /> To procurc. di�lieer to, nnd meainlnin for fhe 6rniG! of. thr binrtgugee during tho lifr of this murtgn�;e ori�;innl policies and � � . . . . . .
<br /> - renewals thermf, deliven•d nl lenst trn dnys br(om fhe espiration of nny such policies, insuring ngainst fire and uthrr in,ur.�ble � . . . � . :
<br /> � � hnwnls. aisualiiea, and rontiugencir+ �as Ih� �7ortgagce mny require, in au cimount eqwd ti� fhe indebtednrss ��rured hv thia . . . . .
<br /> . �� lfortgnge, n�td in companics aacptable !o thc Alnrtgngee, \V1�II IOSti �)It,YBIIIC l`Il1UflC IIl �A�'O� O� 71f1(I Ifl �Offil I1CCP�NlIIIIo tn thc A1orl�ai- � � � � . . .
<br /> ' gee In the evi•nt uny p��licy is nol renewiKl on nr be(ore ten dnyv ut ils e�pirntiun. lhe Alarltin�;re mny procurr insurnnca nn thr � . � . .
<br /> .�. i imprm•etnents. pny lhe prcmium thrrcfor, and such sum shnll bec:ime 1I11111L'[IIRICI}' tI11P :II1fI �)Il}'UIIII' with inlerest. ul the ru�e cot � . � � � . .
<br /> � � ' forth in said notr until paid iand shull IHt secured by this morlgnge. Fnilurc on the part. of Ihe �tortgugor to furnish surh nmrwnls � .
<br /> . �.. j ns nm herein re�uirrd or f�ailure to pny nny sums advancrd heremidrr shiill, at fhe npiinn uf the MorfgnFve. cnnstiWie n dr(aull � � ' . � , �
<br /> . .. t under the iernvs of thiti mortga�;e. 'I'he drlicery o[ ;uch policirs shnll, in thr evt�nt n! drfiwlt. cnnstitute nn nsei�:nm�•nt nt thc• un- . . � � . � .
<br /> � �� i carnecl premium. . � � � . . .
<br /> �4 � .. ; . . . .
<br /> 1
<br /> .. , Auy sums received by the Murtgagee hy rei�son nf losti ur d.•�mage inaured ngainsl may he relninrd lry dic hlurlpngee . . � � . . .
<br /> �md npplied tnwnrd thi• p:iymenl of the drbt h��rrby �rcured. or, ivt the option uf the �torlgn�;ee, such vums eilh�+r wholly nr in � .. ��
<br /> � pnrt moy bc pnid ovcr to lIm !��ortFmgo� ln fxe usrd tn rcpnir such � buildin�s or to builrt neH• buildings in tlurir placi� or !nr any . . . . . .. . . . . .
<br /> f� � � �ither purpos�r or object antisfnclory lo the :�1urt�n�ce withouf. n(frcling thr lien nn thm m�rtgi��e tnr the full :�mount srcured here- �. � �
<br /> bq brfore such pnyment evrr t�ak pinrn. � �
<br /> t: '
<br /> 'Ib prumpUy repair. rcelure or rebuild � nna buildin�;, nr imprucomrnts no��� un c�n•:�fter on Ihe premises which nu�y be- �. . � . . . . �. �.
<br /> ` ' com� dxmriged or destroyid: to keep snid premives in �;a�d condition nnd repuir nnd frc�• from nny nu•chnnic', li�•n ur other lien or � . � .
<br /> �; � clnim o[ lien not expres.ly sulnirdiwted to lhr lirn hereuf: nnt to s�dTerr nr permit :my unlnwful une of nr anv nuisance to ezisl on - -
<br /> ' snid property nor tu pernii�, wnste nn snid pmmises. nur to du i�ny e�lher nct wherelry �h�� pruperly hereL.v eunv�•yed shnll bernme � �
<br /> . � Icss vuluuble, nor to diminish ar impair its �•:Jue by miy ��ct or omission to �u1 ; to cumply �ri�h all rrquiremrnts o( Inw with resprcl �. . � . � .
<br /> . ; to thc� mnrtgaged premisr, nnd Ihc usc themoL . � - .
<br /> 'fhnt should the prrmixx or ;�ny purt ih�•rro( Ix� inki�n ur damaged by rcnxon o( nny public impro��emrnf or condemnntion � � .
<br /> procecding, or ander lhr righ� nf eminent domain, or in any uLher mnnner, thr �lortga;;cc shnll b�• ��ntided tn �all �v�mpensnti��ns, �
<br /> awartls. und t�ny other payment or relie( therefor. and shall be e�� litled, at it� optinn. to commenre, tippe;ir in nnd prasccutc in its � .
<br /> � j own n¢me any nction or pruceeding, or lm m�ko am' comprumise nr selllement in �•onnrcliun wilh +uch �aking ur dmm��;r. All such . .
<br /> comprnsalion. mcards. damngi�. ri�;ht af nction and pruceecls nre hrre6y ac5igned �o lhe �turlg���;ee, who mny. nRer dediicting
<br /> ,- tl:crefmm rzll ils capensr.;, :olease nnymoucys sn rcoi•ivrd 6y it or apply �he sanu• uu nny indebtrdnrtis secured hrreby. '1'he �forF
<br /> _ I grigor agmes to rxrc,vte such further n+signmrnlx o( any cumpensaNun. m�:�rds. d.unagrs. and ri�hts nf uctiun i+nd prnoeode as the
<br /> D1ortRnl�ee mny mquire �
<br /> �
<br /> y. i Thut in cnse o( tnilum tu perform nny ut ihe cuvenan�s hercin. Ihr 1lorttia�;ci• mny do on lhi� \fortKiiFur's brhnlf rvrrvtltin�
<br /> so rnvenuntcd: thnl the Morfgngee mny r�leo do nny a�ct it mny derm m�co.v.c�ry to prntecl thr licn ihomof: Ituit the Morlgngor will .
<br /> � I mpny upon demnnd any moneys paid or di.cbutsed by the Mortgogec (or any of the abuve purp<wes, nnd such monrys ln�;ethrr with
<br /> interevt lhercon at the rnlo prcrvided in said nolr rhnli Ixrcume so much ndditionnl indeblydness herrb�� srcured nnd may br in- �
<br /> � cludid in nny decrne toreclosing this mortqage tmd be pnid uut of the renls or pmc�•eda nf azilr u( s»id pmm�ses if nul othenciso
<br /> piiid: that it shall not be obli�;atory upo�i th�• \lortgngee to inquire inlo the ��ulidity ot any li��n. encumLranccy. nr clnim in ad-
<br /> v�ncing monnys t� nbu��e authorized. bul nothing hercin cont:uned shull tx• cunstrued ns ns�uirin� ihi• Atortgn„r� tn adv;uuc any
<br /> moneys for uny xuch pur�a�si� nnr to do any nct h�•reunder; imd that �1lortgagor shali nol inrur anr porsnnni Iinbility hecause u( xm•-
<br /> thing it may do or omit to do hrrrundcr.
<br /> In lhe e�•vnl uf thr de(nult }�v ;11art�;ngor in thr pnymunt n( ;my inv�allm�ml. as mquin•<I by lh�• Nn�r srcurrd h��rrby. or �
<br /> in the pedormance of lhr o6ligution in this mortgage or in the nolo W.�cured th�reby, lhi� Alortgngec shall 6e rnlillyd tn d�rinre Ihe
<br /> debt sc�cured hereby due nnd paynble withouf noliir, nnd Ihr Dtorl�;n�;cu shull be enlitled af itc nption, �� ithuut nuticc•, rithrr t�y iLselt �
<br /> nr by n receiver tn be nppaint�vl by the court ll�erruf. snd �rithout mgurcl la Ihe� udn�uacy n( ;my srcurity fur the indrbtrdnr�s se. r:w..� : ' . r .� .
<br /> cured here6y; ��to-entrr u�mn unJ take possrssiun u! the morlgaged premises, nnd to colloct nnd receive thr r�•nts. issu��ti nnd proGts � -.� � f t' ��
<br /> nt .: >
<br /> therm[, nncl apply thr, same, Icss cutite o[ o�xratiun und rnlleclion, upon lhe indebtedncsa u•currd by th�s murign�;i•; �.z�id rents, ' ; � � �
<br /> . � iccues nnd profits beinK hereby auignerl to the Tlortgii�ee ns further sreurity (or the p:q�mPnt of all indehtedn�::v �e�cunYl hen•hy. •
<br /> c
<br /> 7'he \lorlgegce shnll have lhe puwer lo appoint any agent nr ngrnls it may dr�irc G�r fhe� purpoae nf rc•�»�iring snid prem• � . a. :
<br /> A
<br />' � , isr�;; - renting U�e same; rnlleeting the renls, revenuev and incume, nnel it mn�• pay nul uf s;�id inrome a0 ��xprnsrs incurrcvl in rrnt- � � ,,, � �
<br />"� � . ing Hnd mnnnging the � sume nnd of cntlecting the renta',.s therrtrom. 7'he balunce remnininti, if :my, shnll br applii•d to�w�rd lhr � t(1 �� �
<br />� � discharRe oi the tnurtguge indrbtrdnexti. Thi. nuignmrnt is fu trrminntr and Ir•comr ntdl �md void npon n4rn.r n( thi. mort�nge . �
<br />�ti ,
<br /> G
<br />�
<br />�,.i.
<br />� � . � . �
<br />
|