|
7. R;ondhmnation. to the event the Property. or any part tFrerenf, shah be taken by eminent domain. the P+Iortga~e
<br />isempawered tac~trtteetandreeeive elf compensation which may be paid far any property taken or for damages to property
<br />noti fatten, strd Miuttgagee shall apply such compensation, at its option, either to a reduction of the indet;tedmess sew .- '~
<br />het~Iiy or to n.pidili• end restore the property so damttged.
<br />8: Pcsrfortnanee by Mirttrta~e. Mortgagee may, but shall have no obi"rgation, to do any set which the Mortgagor
<br />fl~ but !ails-to do, and Mortgagee may also do any act it deems necessary to protect the lien hereof. Mortgagor
<br />agt~ to repay,-apon demand; any sums so expended by the Mortgagee far the above purposes, and any sums so expend
<br />by toe Mort~gee shat) be-added to fire indebtedness secured hereby and become sabject to the lien hereof. Mort~gae
<br />shall not incur arty persrrnal liability because of anything it may do or omit to do hereunder.
<br />$. Detautt; A~ieument at !tents. 'I5me is of the essence hereof, and upon Mortgagor's default in anp covenant
<br />ocagreementaf this Mortgage, inelnding covenants to pay when due the sums secured by `his Mortgage, the Mortgagee shall
<br />!~ emitted, ak-its sots option and without notice, to declare ail sums seemed by this Mortgage to 6e immediately due and
<br />payable and may commence foreclosure of this Mortgage by judicial proceedings; and, provided further, that upon such
<br />defsutt the Mortgagee, or a receiver appointed by a court, may at its option and without regard to the aZegnaty of the
<br />sreeurity, enter upon and take possession of the Property and collect the rents, issues and profits therefrom and apply them
<br />Lest to -the cost of colleetiom and operation of the ProE= qty and then aeon the indebtedness secured by this Mortgagee;
<br />said rents, issues and profits being assigned to the Mortgagee as further security for the payment of the indebtedness
<br />r,eNirett hereby.
<br />10. 7Ymtater o[ Property. If aR or any part of the Property is sold or transferred without the expt~ess arritten con-
<br />sent of the Mortgagee, Mortgagee may at its sole option, declare ail sums secured by this Mortgage to be immediately doe-
<br />and payabtr.
<br />11. Future Advaaaes. Upon request of Mortgagor, Mortgagee may make additional and future advances to
<br />Mortgagee. Such advances, with interest thereon, shall be secured by this Mortgage when evidenced by promi~ory notes
<br />stating that said' notes see secured hereby. At no time shall the principal amount of the indebtedness secured by ails
<br />itlorigage, not including sums advanced to protect the security of this Mortgage, exceed the original Note.
<br /> 12. Mtacettamoua Prrwiaians.
<br /> (a) Any torebearance in exercising any right or remedy shall not be a waiver thereof.
<br />"- (bj All remedies provided heroin err distinct and cumutative to say other right afforded by law or equity;
<br /> and nuy be exercised ^ancurrenUy, independently or successively.
<br /> (e} 't9re cot~nantg and agreements contained herein shat! bind, and the rights inure to, the respective
<br /> sncceaaots and assigns of t-te Mortgagor and the Mortgagee.
<br /> (d} All covenants and agreements of the A4origagor are joint and several.
<br /> (e) 'tire headings aF the prtragraphs of this Mortgage are for convenience only and shall not 6e used to inter-
<br /> pre! or define the provisions hereof.
<br /> 1& Rataaae, Upon payment of all sutras secured by thi± Mortgage, htortgaRee shall discharge thin Mortgage and
<br /> ahaU execute and deliver a satisfactory release therefor.
<br /> tiV WITNt'sSS WHEREUF, Mortgagor has executed this hiarrgaKe on the3~ day. of- -_~~--fir .,19$1 -•
<br /> '~-~~ II. -~~f ~
<br />
<br /> fkr x. Stiri~a a~l~~~
<br /> nR ~'~T ~ -- ;r-
<br />
<br /> t)rt thts.~~~ _day of r_,~~t~__~_ -.__ ....__.._. 1981__ ,before me. the undersigned, a Nottry thrb-ic
<br /> duky cctmtrttasiot>wdecrd qualified far said county, personauy came Mark H Stirt~ and Carol N. Stinesr
<br /> e1Yld 411f@ _...., to me known to be the
<br /> identieat persmr(a} whose name(s) are subscribed to the foregoing instrument and acknowledged the execution WereoC
<br /> to be r- k3iS 8I1d 2Y~T voluntary act and deed.
<br /> ~~ ISliafrd in said count the
<br />Witness my hand and notarial seal at __ -_-.- _ .. _ ... . _ - y.
<br />r
<br /> ate atoreaaid .
<br />,~
<br />_ ~
<br /> ttly tammtselon expires; ~~~ -_ ~ -~ - ~
<br />!
<br />_ ...._ _ .., _. _ ~ ......R
<br />- ~ -
<br />NOi~Y PuWit
<br />
<br />~ M1, aYk#Eti'f
<br />C'4 ~iall,l7ae. la. tip
<br />_- _ (~jiit~ nciV - ~t2fi_ t.t.:Y nYTCfYef1 !'BUY L.Sllilee' S!!d tt CSC[4)!~!) .-._'.. ,. . __ __ ._.... ........ _-_...._.,...-.
<br />~
<br /> t to it's
<br />~, ~~
<br />I.4
<br /> V
<br /> ~. u~. ~
<br /> y
<br /> ,,, ~o ~ G}
<br />a! #s sx,. t ~ Q
<br />r~9 was roert~»~loa ~ .~
<br /> ~,~ ~~
<br /> .~ ~ ~ t~
<br />
|