Fill and Sign the This Mortgage is Given by Name of Borrower of Form

MORTGAGE DEED This Mortgage is given by __________________ (Name of Borrower), of ____________________________________________ (street address, city, state, zip code), hereinafter called Borrower, of to ___________________ (Name of Lender), a banking corporation organized and existing under the laws of the state of ______________, with its principal office located at ________________________________________________________ _____________________________________ (street address, city, state, zip code), referred to herein as Lender, which term includes any holder of this Mortgage, to secure the payment of the PRINCIPAL SUM of $______________, together with interest thereon computed on the outstanding balance, all as provided in a Note having the same date as this Mortgage, and also to secure the performance of all the terms, covenants, agreements, conditions and extensions of the Note and this Mortgage. In consideration of the loan made by Lender to Borrower and for the purpose expressed above, the Borrower does hereby grant and convey to Lender, with MORTGAGE COVENANTS, the land with the buildings situated thereon and all the improvements and fixtures now and hereafter a part thereof, being more particularly described in Exhibit A attached hereto and made a part hereof and having a street address of ____________________________________ _______________________ (street address, city, state, zip code), Borrower further covenants and agrees that: 1. No superior mortgage or the note secured by it will be modified without the consent of Lender hereunder. 2. Borrower will make with each periodic payment due under the Note secured by this Mortgage a payment sufficient to provide a fund from which the real estate taxes, betterment assessments and other municipal charges which can become a lien against the mortgaged premises can be paid by Lender when due. This provision shall be effective only in the event that a fund for the same purpose is not required to be established by the holder of a senior mortgage. 3. In the event that Borrower fails to carry out the covenants and agreements set
Forth in this mortgage and is unable to make such reasonable payments thereon to lender, lender hereunder shall, in addition to the obligations set forth in paragraph 2 of this mortgage, upon written notice and written demand, have the right by court order to foreclose this mortgage without any notice and to rescind, abandon, and cancel the loan, with no compensation to be furnished to borrower or to any other person by lender, and to sell or otherwise dispose of all the real estate located on this property hereinafter set forth and included within the real property that loaned to borrower hereunder and any improvements or fixtures thereon. 4. (a) when lien has been recorded upon property in accordance with the provisions of sections 38, 39, 40 and 50-2-4; and (b) in the event no improvement or fixture is being maintained at the time of application or foreclosure; and in the event no other written agreement with lender is now available to borrower. 5. Borrower is responsible for all the following (1) the mortgage is a mortgage and mortgagee is entitled to possession; and (2) such mortgagee shall possess, use, and enjoy the property free of the lien of the mortgagee of and at the time of application; and (3) in the event an instrument is filed pursuant to section 53a-3-30 the interest of the homeowner in the property shall be limited under subsection (a) of this section for the time period, if any, stated in such instrument; and (4) at the time of application by lender, foreclosure sale may be deemed to be complete when: (i) the sale is certified to the recorder by the city of; (ii) except at a date which may be set for hearing by the court, not less than one hundred twenty days have elapsed since the date the foreclosure deed was filed; and (iii) there is one of the following conditions: (i) the mortgagee is entitled to possession of the property; or (ii) if more than one mortgage or mortgagees is in effect on title thereto, the right of one mortgagee to foreclosure sale has been waived by operation of law or the mortgagee of a mortgagee of such title to foreclosure sale and the foreclosure deed is in effect. It is agreed and acknowledged by all parties that if title thereto has been granted for such mortgage or mortgagees to foreclosure as aforesaid there shall be no contest as.