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p .e <br />3U��jj f�rx <br />V 4'7'7,3 <br />1 <br />RF C-, T' a MORTGAGE <br />This indenture witnesseth that TOWN TOWER MOTEL CORPORATION, a foreign <br />corporation duly registered in the State of Indiana <br />of 423 North Main Street, South Bend, Indiana <br />Mortgage and warrant to the CIVIL CITY OF SOUTH BEND <br />, as MORTGAGOR, <br />of Board of Public Works, County -City Bldg. , South Bend'ndiana, as MORTGAGEE, <br />the following real estate in S t . Joseph County <br />State of Indiana, to wit: <br />See attached Mortgage Addendum for legal <br />descriptions of Parcel A and Parcel B <br />t <br />fir'`•=1: <br />UTI <br />G3 <br />r1 �� <br />r3 <br />S <br />mn <br />c_o ca <br />y� <br />UP <br />as well as the rents, profits and any other income which may be derived therefrom, to secure the performance of all conditions <br />and stipulations of this agreement and: <br />A To secure the payment, when the same shall become due, of the following indebtedness of even date herewith: <br />Fifty Nine Thousand Four Dollars ($59,004.) with the first payment <br />of Twenty Nine Thousand Five Hundred Two Dollars ($29,502.) due July <br />31, 1984 and the second payment of Twenty Nine Thousand Five Hundred <br />Two Dollars ($29,502.) due January 31, 1986. <br />with interest at the rate of 0 per cent per annam computed N/A during such period when there shall <br />be no delinquency or default in the payment of any moneys to be paid on this obligation but with interest at the rate of eight <br />per cent per annum computed semi-annually during such period when there shall be any delinquency or default in the payment <br />of any moneys to be paid on this obligation and to be computed to the next interest period following such delinquency or default, <br />and said rate shall continue to be paid until all delinquencies and defaults are removed by the beginning of a succeeding interest <br />period, all without relief from Valuation and Appraisement Laws, and with attorney's fees; <br />B Also securing any renewal or extension of such indebtedness; <br />C Also securing all future advances to the full amount of this mortgage; <br />D Also securing all indebtedness or liabilities incurred by the holder hereof for the protection of this security or for <br />the collection of this mortgage. <br />Mortgagor agrees to pay to Mortgagee, in addition to the regular payments, an amount in equal monthly installments <br />which will cover future payments of taxes, insurance and assessments against said real estate; and these payments shall con- <br />stitute a trust fund out of which all future taxes, insurance and assessments shall be paid by Mortgagee so far as it shall cover <br />such payments, and any deficiency shall be paid by Mortgagor as and when the payments become due, and any permanent <br />surplus shall be credited to the principal. <br />M A ; L. T 0 : CQPYX10NT NoVe Cw- 1W. ST. JO9CPN COUNTY Imu1 Nw BAR ASSOCIATION <br />