|
1-•
<br />�� � ' I :�, � i•e'ia
<br /> L � I �
<br />� 76- 005531
<br />;� MORTGAGORS MAY MAKE PREPAYMENTS OF PRINCIPAL ON ANY INSTALLMENT DUE DATE. SUCH PREPAYMEN7 SHALL DE
<br /> . APPLIED TO INSTALL6IENTS LAST TO BECOME DUE UNDER THIS MORTGAGE. PROVIDED THE UNDERSIGNED ARE NOT IN DEFAULT
<br /> AND ARE THEN THE OWNERS OF THE MORTGAGED PROPERTY, UPON REQUEST OF THE UN�ERSIGNED, OR EITHER OF TFIEM, � .
<br /> � � PAYEE AGREES TO fURNISH TO THE UNDERSIGNED 300% OF SUCH PRINCIPAL PREPAYMENTS, UNLESS ADYANCEMENT IS PRO� � �
<br /> HIBiTEU HY �THE REGULATIONS OF CHARTERING AND SUPERVISORY AUTHORITIES THEN IN EFFECT. � ALL SUCH ADVANCEMENTS � � � �
<br /> SHALC BE SECURED BY THIS MORTGAGE IN THE SAME MANNER AND EPFECT AS IF NO PREPAYMENTS HAD BEEN MADE.
<br /> THE MORTGAGOR rURTHF.R COVENANTS AND ACRPfiS :
<br /> � 1 ��� � Thsi � lGe+ � Morfgn�or will piry the indc6tednrss as � h�•rc•inbrfore provided. � � � � � � � . . �.
<br /> � 'Phat the hfrzrfgagnr is tl�r. owncr o[ s��id proprrly in fre simpli� rmrt has {;o�ul right nnd Inw(ul �mihurity' to .ell and � : . . . .. .
<br /> � � com�ey. lhe st�me and thal th�� cnmc is [ree and driv o( nny licn or rneumbrancc: ;md thnt �7nrl�agor will ���nrtant. nnd drfrnd the . _ . . .. .
<br /> . . title tu said premiuea ogiiiast. the cleims r�( ;ill persons whomsocvPr. . � � . . ..
<br /> . � To pny immediidely when due and . paystble nll Renert�l tases, special Wxrs, spvcinl avsessmenlr. water charqes, sewer sen•- � � - � � .
<br /> � ice� cGnrges, and uther tt�zes itnd chnr�;cK ugainst naid property. mid ull luzes Ievird on the drLt srcurrd hereby, and . lo furnish the . . . . . .
<br /> � nlortga�;ee, upon reyuest., wiih the original ar duplice�te receipts thrre(or. "19ie �[orp;ngor nl;rrev thrat there sha11 6e uddr.d. to � � �
<br /> ,� �..i . each n�onthly �paytnent required hereunder or under lhe e��idimcc of debt srcured hereby nn �3mounf estimnfed by tii� hlorh;ager � � . . � �
<br /> � lo be su�cient tn enable the I�tortgn�;ee to pu}', xs they becume due. all laxes. axsessments, fmd similnt charKes upon the prrm- . � . � .
<br /> � ises . subjcct thereto; any fIl'IlCll'IiCV. I)PCAl1Sl' o( lhr. insulliciency o( such addi�innal paymrnis shall Le forlhwilh . depenited by thr � � � � . . .
<br /> a � ?tlortgagor . with thc Alorigagec upm� drmund by tl�e. rlorlgague. Any defaull under ihis p;�ragnph ahnll be dremed a dcfuult in : . . . .
<br /> ;
<br /> - ptiqment of tax��s, asties;me•nl.,. nr sitnil:fr ch:irFes required herrund��r. � .
<br /> 1'hi• 1�1or(�;ri�;or +�gmes thal then• ±hall i+lso be addi�d to r:sh montldy P��ymcnl of prinripal :md inleresd requimd here• - � � .
<br /> � - . wider ��n amount eslim.tlr.d by' thr Murtgagee lu 6i� sullicient tu enabl�� the �4orlgaRer, to pnp. ;ac it hi�cumt•s due, the insucance . � � �. .
<br /> premium on any insurance policy d��livered t<� the Dinrlgiige��. ;1ny Ji�ficirncy becmise ot ih�• insulliciency nf such udditiunul pay. . - . . , � . ..
<br /> , . meu4+ shull be forlh�eith drposited by thr \inr�Ragnr �citl� tLr. �lortgagee upon dematid by the nlorlkaRco. Any defnuli under ihis . . . .
<br /> �; � ' � nrn ni �h shnll be deemed a de(ault in the �a� menl of iu�uruice rrcmiums. 1( the x�licy or �oliries d�> >usited nre tiuch as humr- � . , .
<br /> , i 1 � R 1 1 " .' 1 1 I 1 - �. . . �.
<br /> awnen or nll risk pulicies. and the Jeposits xre insutlicient. to pny (hr i•ntire premium, fhe Alnrtgagee mny apply ihe deposif tn .
<br /> �.� �::�� pay prcmiums on risks rnquirod lo b�• inxured by lhis mortgaRe. �. �
<br /> . . �'�. Payments nmde b • lhe \lod �u •nr under lhe a6nvr �aragra �hs ma �. al thr o rtinn nf the M1torl � �ee, be hcid by it tmd . � � � .
<br /> S l. !, 1 1 1 I F; l, .
<br /> �.�� ` . cummingird wilh other such funds or its mvn f�mds fur the payment of such ifrms. nnd unlii sn ��pplicd, si�ch pnymenfs are herrby. . . � .
<br /> ' plrwlged as securily fur Lhe unpeiid balauce o( the mortgn�e inJeMrdne�s. � ; . � � .
<br /> � To procure, delivrr tn. und m�intain for ihe be�uefit n( lhe \tortgn�;ce durin�: lhc life of thi.s rnoripngc ori;inu! P�ticies and � . . . � �
<br /> renewal� therenf. deliverevi at leas[ len days Le[ore lhe exPiration u( any such pulicies, insuring a;;ainst (irv and oth��r ia5umble . � . . .
<br /> � � hazarcls, casunitir.s. and cuntinqencies as the �(urlqagce may require. in an amount equal tu !he ind�btedness secured by �his � . . � � . .
<br /> � lfnrtgage, nnd in cumpvnies acceplahle to the ntorigngee, wi� h I�.�.s paY��61e clausi� in favor u( und in form �urepinble to ihe �]orfga- : � � .
<br /> f• �� ; gce. In die event miy Policy is nut renewed un or Le(ore trn dayn nf i�s expiratiun. the \furt�;agee tnny pmcure insurance on the . � . � . . �
<br /> - improveme.nts, pny the premium therefor, nnd such sum shall brcime inmicdiat��ly dun ancl piayt�6le with inirn•st nt the r:xir url . �
<br /> t�� (orth in said nole until paid and shnll bc� secured by thin morlR�F�'. I�ailure on t6i� part o( ihe Alortga�;nr to furnish surh rene�:•als , . . �
<br /> � ns me hr.rein r�v�uired ur L•ailure lu pay any sumx advancrd hc•reundi�r shall, at I6e option a( the hforl�ngee. constifule n drfault � �� �
<br /> ?' � � under the terms uf this morlg.�tie. 7'he drlivery o( surh pnlirics shall, in the eveni nf default. cuns(itule tm as�i�;nment of ihe um . � � . .
<br /> 7.� � : j ��armKl premium. . . � � . .
<br /> C : � � Any nums receirud by the Morttiagce by rcasnn uf los, nr d:nnaK� intiun•d against. mny he relainrd by Uie � \IortF�U:ce '. � . .
<br /> �:�... ;. and applicd low�nrd the pnyment u( the debt Lrreby secured, oc at the nption ot the A-0ortgngec. such sums i�ither whollp or in . . . . . . .. . . . . .
<br /> s, � � parl mny be paid uver tu ih�� hfort�;agor to tx used tu repuir such buildinRs ur to build neH� 6uildin;;s in lheir pluce or fur any � . � � �
<br /> �;- � ' uther purpose nr ubject sUtisfuctury to �h�t hturtgugee without nlT�.�ctin� thc lien on t6e murtFage for thc [uli umnunt �ecurrd here-
<br /> :�; : i by 6e�(ore sueh paymenl evcr trx�k ph�ce. .
<br /> ir _
<br /> 9'o promptly repaiq mstum or n•build ru�y buildinFs or iinpru�•rm<�nts nmv or hrrenRer on ihe promises ���fiiali mny be• . . �-.
<br /> ��� . � come damngeJ or destroyrrl : tn keep said premiscs in �;�x�J condilinn and nqriir nnd (ree trum ;my mechanic's lirn ur ath��r lirn or . � � .
<br /> v : ; clnim ot licn not exPres,ly suburdinated to thc lirn 6�•rcuf; nul lo suRer ur prrrnit :my wilm��4i1 usc o( or nny nuis;mce to eaint on � .
<br /> said properly nor lo permit wxvte on sriid prrmises, nor tu du �my other act whrrrby the proprrly hereby cnnveprd sh�dl becomr ' . . - .
<br /> Iess vnl�able, nor lo diminish or impuir its vnlue Ly nny ncl or vmi�:sinn tn act : fu cnm�ily �cith ;�II requirem�•nts u( Inw �rith mcpect � � � .
<br /> " la the morlgaged premisrs =md the usc ihrnv�L � � �
<br /> Y,
<br /> 7'h�t shoulrl t.he premixs or �mp pxrt therruf be tal:en or danmged by rensun of nny public improvement or cimdemnutinn
<br /> � . procecding, or undrr the ri�;ht of emincnf domain, or in nny olher mannrr. �he Alortgnger shall bv entiUed tn all compensutions,
<br /> � :nvards. nnd anv other Pt�yment or reliri th„rc•fur. an•! �tunll !x• c:ititl;�i. at ils opiiun, to cummence. appcur m und prosc�cute in iis �
<br /> own name anY action or prcKecdinK. ��r �u make any cumprnmise ur setllement in connectiun with anch taking or damaga All such
<br /> � . compeawition. nw•urds. damagi�;. ri�:hl of action nRd Procetvl5 are hemhy assigned to lhe �1nrt�;nger. whn nmy. n[fer deductinF
<br /> x� ' therefmm ull iLs rxpenses. rrlease nny mmreys so rrceived by if nr apply thr zame un iany indebledness securcd herrby. Thr 11nrt•
<br /> � gngor ngrees to exc•cute such furthrt nssignments of any cnmpi�nsafiun. nwards, damn�;es. anJ ri�;hLti of aclion and prucrrd, us thr .
<br /> . �torigagee mny require.
<br /> {
<br /> ` � Thnt in cas�� o( tnilure lu pedurm nm� o( !he ruvenanla hercin, the blortK�Ri�' may du un th�� tiiortgagor's behid( en•rpthing
<br /> � i so covennnted; that the Alortg.�gee may xlso do nny uct it m:�y deem necess.3ry tu prnt��ct the lien Ihrren(; thnl fhe \7oflKaB�r H7II �
<br /> b. � � . repay upon demand tmy moneys paid or disbursed by thc J1ort�ngi�e tor �ny o( thc abuve purpinc�, and such moncys togelher with
<br /> � inten..wt themon ut lhe nde provided in said no�e shnit tx�cume su much udditim�al indebirdnrss h�•reby srcured nnd maY be in-
<br /> rluded in uny decrce fu��ti•lusing thia morlgngc and be puid out nf thc rrnLti or prottedv ot salc o( said pn�misen if nul othcru•ise
<br /> . pnid: that it shall not be obliFntor,y upon the Dtorlgagee ta inquire intu the vnliditp uf tany lien, rncuml:ranccs. or claim in ud- .
<br /> i ' vmuing monoys as nbewe authorized. but nulhing hercin cuntnin��d shnli lxr cou,trurd as reqwring � he D1nrt�:agee tu ndvance nny
<br /> �: moneya for nny such purpose nor to dn any act hereimder; i�nd that Murtpugee shtill nul incur ;my persnnid liabilil}• b��cause uf any'
<br /> ,��� � thinF it mny do or nmit to dn hercundcr. � �
<br /> In the. event of the defawlt by \furtgntior in lhr paymenl u( an5' iust.�llment, a.ti rrquired by Ihr Nntr srcumd hrrrhy. or
<br /> � in lhe pudornunur uf the o6litialion in this morlgagr ur in Ihe nute ceci�red thereby, the htort�;agee shtdl be rntifird lu dec:lare the .
<br /> debt ��c:ured herehY due nnd pnyahle without notice, nnd the 1lurtgagru xhnll he entilled :il ils uplion, �vithuul nulice. cilher by itsel( �
<br /> or by a recrivcr �a tx appuinf�v! by lhe cmirt lhertvf, unJ wilhoul mgard to the adequacy uf auy securih• (ur the indrbtedness .e• :�;, � . .c ;;.:.f� ,
<br /> � cured hereby, lo enter upun and take possrssion o( the mortgagrd premises, and to colleci nnd rrceive tl�r rents, issues and prnfits . � "� '
<br /> thrrnof, eind nppiy the snme, less costs o[ opernliun nnd cullection. upon the indebtednes.v crcun•d by thic mnrigage: wid rents. , } .
<br /> � istiues und profitv }x�ing hereby ivs.cignrd to lhe !�tnr��a�;ee us further srcurilp far the p�aymrnt of nll indeblednesv secured hrrr6y. . �.
<br /> L 'Ph� ��fortgngcr shull hnve the puwer to appoint any Ugent ur n�:rnts it mny dr�ire fnr th�� purpu.e of repairin� utid prem- `�
<br /> ix�: rent�ng the snmr. crollecling the rent�, �mvrnues und incumc, nnd it. may pay o�n o( snid incomr :JI �•�pons�•s incurnYl in rent- � ��' .
<br /> tA ' '
<br /> + � . � ing xnd managing lhe snme i�nd o( coll�•clin� lhe rentiils lhrrefrum. '1'he holiince remaining, if nny. rhnll hr applird foward thr � . (� � ' .
<br />� . . divchnrge o( the martgage indeblcdn��sv. Thie e�v,aignment i� tu terminatr .md fx•a�mi� null �md vuid upun rrlrns�� uf Ihis m��rtg;��;c. .. ' .
<br />_`.,�„'�-" . .
<br />�:
<br />•�� � � � p . . � � .
<br />:� � . . . � . �
<br />�`��
<br /> _ �
<br />
|