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82002943
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Last modified
3/10/2009 8:01:18 AM
Creation date
2/28/2009 2:53:40 AM
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DEEDS
Inst Number
82002943
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<br />-,. <br />82~'° t~li?9~ <br />hereby are paid in Full. <br />5. Repair, Maintenance and Use. To promptly repair, restore <br />or rebuild any buildings or°improvements now or hereafter on the <br />prgnerty; to-keep the property in::good'eondition and repair, <br />without waste, and free `rom mechanic's nr other liens not e;;press- <br />ly-subordinated to the lien heraof; not to make, s•sffer or commit <br />an}°'nuis'ancetoexi-stnor to 3i~nin;sh or impair the value of the <br />property by anyaetc~ omission to act; and tc comply with all <br />requirements of law with respect to - property. <br />6. Performance by blortgag~e. ~,ortgagee may, but shall 'nave <br />no obligation, to do any act which _he Mortgagor has agreed but <br />failed to do,-and mo-rtgagee. nxay also :io anv act mortgage diems <br />necessary°to protect the lien tie-reof. Mortgagor agrees to repay, <br />vpan demand, .any sums, so expended by the mortgagee for the above <br />purposes; and any'sums so expended by the mortgagee sha].)- be added <br />to the indebtedness secured hereby and become: subject to the lien <br />hereof_ ;Mortgagee shall not incur any personal liability because <br />of anything the mortgagee may do or om to do hereunder. <br />7.= Defauir; Assignment of :Rents. Time is of the essence <br />hereof, and upon mortgagors' default in any covenant or agreement <br />of this mortgage, ircludinr~`covenants to pay when c3ue :-he sums <br />secuxed 6p this mortgage, the mortgagee shall be untitled, at <br />mortgagee's sole option and without notice, to dee2are:all sums <br />eecured by this mortgage to be immediately t3ue and payable and <br />.may commence foreclosure a~ t".is mortgage by udicial proc-sedin,s; <br />and, provided`furthPrrthat _~~oa uchdefauit the mortgagee, or a <br />receiver appoisrted ay a CO'~lr!', may at, their option .and_ without <br />regard to the atiecnac}• of the security,.. enter. upon._and take po- <br />ssession of the property, corlect the rents, issues and pr^fits <br />therefrom. and'applj- them i;rst to the cost of-collection and oper- <br />ation of ,the property and t:.gin Iron tY:e indebtedness secured by <br />this mortgage; said rents, issues :nd :profits being assigned to <br />the.mrartgagee as furt:ner secuxi~y *or ~ he }>a;=ment of the indebted- <br />. Hess secured hereby.": <br />8. Transfer of 'Proper. y. Ir alL nr any cart of the <br />property is sold or transferred by tixe mortgagor, mortgagee, may at <br />their sole option, declare ail sums s`cured by this"mortgage to be <br />immediately due and payable-. <br />9. Misoeilaneous Provisions. <br />:? A y forbearance in exercising any right or remedy shall <br />not be a waver thereto€. <br />3. all remedies-prrsvided herein are distinct and cumulative <br />to an other ric,t afr"orded by Iaw or equity, 'and may oe exercised, <br />concur ent~}', independpntiy ar successively. <br />C. Tn- ~o~=enants and agreements cantain~d Y:erein shall bind,. <br />az;d the rictus inure to: The respective successors;. heirs, and <br />assigns of the mortgagor and the :mortgagee. <br />D l.)1 co-~enants and agreements of the mortgagor acs joint <br />a:xd of :'c~ra l , <br />E. .The :kaadings of the paragraphs of uhis Mortgage are <br />far coxrvenience nrly and shall not be -used to .interpret or define <br />the provisions hereof. <br />_~^ <br />
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