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THIS INDENTURE, made as of the ________(1)___________ day of _____(2)______,
19________(3)_______, by and between _______________(4)______________________, of
_____________(5)______________________, hereinafter called "Mortgagor", and
________________(6)_________________________, of ______________(7)
_______________, hereinafter called "Mortgagee".
W I T N E S S E T H :
AMOUNT OF LIEN: "NOTE"
WHEREAS, Mortgagor is justly indebted to Mortgagee in the sum of ____________(8)
________________ DOLLARS ($_____________(9)___________) in lawful money of the United
States, and has agreed to pay the same, with interest thereon, according to the terms of a certain
note (the "Note") given by Mortgagor to Mortgagee, bearing even date herewith.
DESCRIPTION OF PROPERTY SUBJECT TO LIEN: "PREMISES".
NOW, THEREFORE, in consideration of the premises and the sum hereinabove set
forth, and to secure the payment of the Secured Indebtedness as defined herein, Mortgagor has
granted, bargained, sold and conveyed, and by these presents does grant, bargain, sell and
convey unto Mortgagee property situate in __________(10)_______ County, ____________(11)
__________, more particularly described in Exhibit "A" attached hereto and by this reference
made a part hereof;
TOGETHER with all buildings, structures and other improvements now or hereafter
located on, above or below the surface of the property hereinbefore described, or any part and
parcel thereof; and,
TOGETHER with all and singular the tenements, hereditaments, easements, riparian and
littoral rights, and appurtenances thereunto belonging or in anywise appertaining, whether now
owned or hereafter acquired by Mortgagor, and including all rights of ingress and egress to and
from adjoining property (whether such rights now exist or subsequently arise) together with the
reversion or reversions, remainder and remainders, rents, issues and profits thereof; and also all
the estate, right, title, interest, claim and demand whatsoever of Mortgagor of, in and to the same
and of, in and to every part and parcel thereof; and,
TOGETHER with all machinery, apparatus, equipment, fittings, fixtures, whether actually
or constructively attached to said property and including all trade, domestic and ornamental
fixtures, and articles of personal property of every kind and nature whatsoever (hereinafter
collectively called "Equipment"), now or hereafter located in, upon or under said property or any
part thereof and used or usable in connection with any present or future operation of said
property and now owned or hereafter acquired by Mortgagor; and,
TOGETHER with all the common elements appurtenant to any parcel, unit or lot which is
all or part of the Premises; and, ALL the foregoing encumbered by this Mortgage being
collectively referred to herein as the "Premises";
TO HAVE AND TO HOLD the Premises hereby granted to the use, benefit
and behalf of the Mortgagee, forever.
U.C.C. SECURITY AGREEMENT
It is agreed that if any of the property herein mortgaged is of a nature so that a security
interest therein can be perfected under the Uniform Commercial Code, this instrument shall
constitute a Security Agreement and Mortgagor agrees to join with the Mortgagee in the
execution of any financing statements and to execute any and all other instruments that may be
required for the perfection or renewal of such security interest under the Uniform Commercial
EQUITY OF REDEMPTION
Conditioned, however, that if Mortgagor shall promptly pay or cause to be paid to
Mortgagee, at its address listed in the Note, or at such other place which may hereafter be
designated by Mortgagee, its or their successors or assigns, with interest, the principal sum of
__________(12)______________ DOLLARS ($___________(13)___________) with final
maturity, if not sooner paid, as stated in said Note unless amended or extended according to the
terms of the Note executed by Mortgagor and payable to the order of Mortgagee, then these
presents shall cease and be void, otherwise these presents shall remain in full force and effect.
COVENANTS OF MORTGAGOR
Mortgagor covenants and agrees with Mortgagee as follows:
1.01 Secured Indebtedness.
This Mortgage is given as security for the Note and also as security for any and all other
sums, indebtedness, obligations and liabilities of any and every kind arising, under the Note or
this Mortgage, as amended or modified or supplemented from time to time, and any and all
renewals, modifications or extensions of any or all of the foregoing (all of which are collectively
referred to herein as the "Secured Indebtedness"), the entire Secured Indebtedness being
equally secured with and having the same priority as any amounts owed at the date hereof.
1.02 Performance of Note, Mortgage, Etc..
Mortgagor shall perform, observe and comply with all provisions hereof and of the Note
and shall promptly pay, in lawful money of the United States of America, to Mortgagee the
Secured Indebtedness with interest thereon as provided in the Note, this Mortgage and all other
documents constituting the Secured Indebtedness.
1.03 Extent Of Payment Other Than Principal And Interest.
Mortgagor shall pay, when due and payable, (1) all taxes, assessments, general or
special, and other charges levied on, or assessed, placed or made against the Premises, this
instrument or the Secured Indebtedness or any interest of the Mortgagee in the Premises or the
obligations secured hereby; (2) premiums on policies of fire and other hazard insurance covering
the Premises, as required herein; (3) ground rents or other lease rentals; and (4) other sums
related to the Premises or the indebtedness secured hereby, if any, payable by Mortgagor.
Mortgagor shall, at its sole cost and expense, keep the Premises insured against all
hazards as is customary and reasonable for properties of similar type and nature located
in____________(14)___________-____ County, ____________(15)___.
1.05 Care of Property.
Mortgagor shall maintain the Premises in good condition and repair and shall not commit
or suffer any material waste to the Premises.
1.06 Prior Mortgage.
With regard to the Prior Mortgage, Mortgagor hereby agrees to:
(i) Pay promptly, when due, all installments of principal and interest and all other sums
and charges made payable by the Prior Mortgage;
(ii) Promptly perform and observe all of the terms, covenants and conditions required to
be performed and observed by Mortgagor under the Prior Mortgage, within the period provided in
said Prior Mortgage;
(iii) Promptly notify Mortgagee of any default, or notice claiming any event of default by
Mortgagor in the performance or observance of any term, covenant or condition to be performed
or observed by Mortgagor under any such Prior Mortgage.
(iv) Mortgagor will not request nor will it accept any voluntary future advances under
the Prior Mortgage without Mortgagee's prior written consent, which consent shall not be
2.01 Event of Default.
The occurrence of any one of the following events which shall not be cured within _(16)_
days after written notice of the occurrence of the event, if the default is monetary, or which shall
not be cured within __(17)__ days after written notice from Mortgagee, if the default is non
monetary, shall constitute an "Event of Default":
(a) Mortgagor fails to pay the Secured Indebtedness, or any part thereof, or the taxes,
insurance and other charges, as hereinbefore provided, when and as the same shall become due
(b) Any material warranty of Mortgagor herein contained, or contained in the Note,
proves untrue or misleading in any material respect;
(c) Mortgagor materially fails to keep, observe, perform, carry out and execute the
covenants, agreements, obligations and conditions set out in this Mortgage, or in the Note;
(d) Foreclosure proceedings (whether judicial or otherwise) are instituted on any
mortgage or any lien of any kind secured by any portion of the Premises and affecting the priority
of this Mortgage.
2.02 Options Of Mortgagee Upon Event Of Default.
Upon the occurrence of any Event of Default, the Mortgagee may immediately do any
one or more of the following:
(a) Declare the total Secured Indebtedness, including without limitation all payments for
taxes, assessments, insurance premiums, liens, costs, expenses and attorney's fees herein
specified, without notice to Mortgagor (such notice being hereby expressly waived), to be due
and collectible at once, by foreclosure or otherwise;
(b) Pursue any and all remedies available under the Uniform Commercial Code; it being
hereby agreed that ten (10) days' notice as to the time, date and place of any proposed sale shall
(c) In the event that Mortgagee elects to accelerate the maturity of the Secured
Indebtedness and declares the Secured Indebtedness to be due and payable in full at once as
provided for in Paragraph 2.02(a) hereinabove, or as may be provided for in the Note, or any
other provision or term of this Mortgage, then Mortgagee shall have the right to pursue all of
Mortgagee's rights and remedies for the collection of such Secured Indebtedness, whether such
rights and remedies are granted by this Mortgage, any other agreement, law, equity or otherwise,
to include, without limitation, the institution of foreclosure proceedings against the Premises
under the terms of this Mortgage and any applicable state or federal law.
3.01 Prior Liens.
Mortgagor shall keep the Premises free from all prior liens (except for those consented to
3.02 Notice, Demand and Request.
Every provision for notice and demand or request shall be deemed fulfilled by written
notice and demand or request delivered in accordance with the provisions of the Note relating to
3.03 Meaning of Words.
The words "Mortgagor" and "Mortgagee" whenever used herein shall include all
individuals, corporations (and if a corporation, its officers, employees or agents), trusts and any
and all other persons or entities, and the respective heirs, executors, administrators, legal
representatives, successors and assigns of the parties hereto, and all those holding under either
The pronouns used herein shall include, when appropriate, either gender and both
singular and plural. The word "Note" shall also include one or more notes and the grammatical
construction of sentences shall conform thereto.
If any provision of this Mortgage or any other Loan Document or the application thereof
shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of the
instrument in which such provision is contained, nor the application of the provision to other
persons, entities or circumstances, nor any other instrument referred to hereinabove shall be
affected thereby, but instead shall be enforced to the maximum extent permitted by law.
3.05 Governing Law.
The terms and provisions of this Mortgage are to be governed by the laws of the State of
___________(18)____________. No payment of interest or in the nature of interest for any debt
secured in part by this Mortgage shall exceed the maximum amount permitted by law. Any
payment in excess of the maximum amount shall be applied or disbursed as provided in the Note
in regard to such amounts which are paid by the Mortgagor or received by the Mortgagee.
3.06 Descriptive Headings.
The descriptive headings used herein are for convenience of reference only, and they
are not intended to have any effect whatsoever in determining the rights or obligations of the
Mortgagor or Mortgagee and they shall not be used in the interpretation or construction hereof.
3.07 Attorney's Fees.
As used in this Mortgage, attorneys' fees shall include, but not be limited to, fees incurred
in all matters of collection and enforcement, construction and interpretation, before, during and
after suit, trial, proceedings and appeals. Attorneys' fees shall also include hourly charges for
paralegals, law clerks and other staff members operating under the supervision of an attorney.
IN WITNESS WHEREOF, the Mortgagor has caused this instrument to be
duly executed as of the day and year first above written.
STATE OF _______________(22)_________)
COUNTY OF ______________(23)_________)
THE FOREGOING instrument was acknowledged before me this __________(24)_____
day of ____________(25)___________, ___________(26)_________,by _________(27)
My Commission Expires: _________(29)_________
The information in this document is designed to provide an outline that you can follow
when formulating business or personal plans. Due to the variances by many local, city, county
and state laws, we recommend that you seek professional legal counseling before entering into
any contract or agreement.