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HomeMy WebLinkAbout97-04852 ~ . . l".\lIt'J\al"O~R. bon\'1-~" , THA'f KHOlf ALL ICBN BY TRBSE PRESENTS, JOSEPH C, BENDER held and firmly bound unto DOMENICO ITALIANI and GEMMA ITALIANI, husband and wife, in the sum of TWENTY-FIVE THOUSAND AND NO/100--($25,OOO,OO)----Dollars lawful money of the United States of America, to be paid to the said obligees, their executors, administrators or assigns, to which payment well and truly to be made, he does bind his heirs, executors and administrators, and every of them, firmly by these presents, Sealed with their seal. Dated the /% day of RJd'l"II>o"/l in the year of our LorJ one tho...&",,~d nin.. hl..lh.lre:l ninet} -four (1994), THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said obligor, his heirs, executors or administrators, or any of them, shall and do well and truly pay, or cause to be paid unto the .aid obligees, their executors, administrators or assigns the sum of TWENTY-FIVE THOUSAND AND NO/100--------------($25,OOO,OO)----------------- Dollars Payable one year from the date hereof, together with interest at the rate of seven (7%) percent per annum, said interest to be paid monthly, The parties agree to renegotiate the rate and repayment terme one year from the date hereof, Said money payable without any fraud or further delay; and also from time to time, and at all times until payment of the said principAl eum be made, as aforesaid, keep the building mentioned in the said Mort- gage insured for the benefit of the mortgagees, in some gond and reliable fire insurance company or companies licensed to transact business in the Commonwealth of Pennsylvania, in the amount of at least TWENTY-FIVE THOUSANO AND NO/I00---($25,OOO,OO)---DOLLARS and take out no insurance on said building without mortgage or loss payable clause for benefit of obligees, and if the obli~o~ neglects to procure such fire insurance, or permit the policy or poli..ias evidenc- ing the Hame to lapse because of. non-payment o~ premiums or otherwise, obligees may secure and take out such fire insurance in their own names, and the premium or premiums paid therefore by obligees shall be added to and be collected as A part of the principal sum due and in the same manner, together with interest thereon at the same rate as i. payable on the said principal sum; and obligor further covenants to pay all taxes lawfully assessed and levied by any proper tax authority against the premises described in the said Mortgage as well as all lawful municipal claims including charges, whether or not reduced to liens, for paving, sidewalks and repairs thereto, sewers, and water rents charged by any municipality or any municipal authority; and upon demand therefore obligor shall exhibit to obligee proper receipts for such taxes and municipal claims, and that if obligor neglects to pay -1- such taxes and municipal claims, obligee mar pay the same or any part thereof and add the amount or Amounts eo pa d, or the aggregate thereof, to eaid principal sum and collect the same with interest thereon in the manner provided in this Bond; then the above obligation to be void, or else to be and remain in full force and virtue, And the further condition of this obligation is such, that if at any time default shall be made in the payment of the principal debt or any installment thereof or interest, or additions thereto as aforesaid, for the space of thirty (30) days after any payment thereof shall fall due, or if a breach of any other of the foregoing conditions be made by the said obligor, his heirs, executors, administrators or assigns, then and in such CAse the said pr!n~ipal sum shall, at the option of the said obligees, their executors, administrators or assigns, become due, and the paymsnt of the same, with interest and costs of insurance due thereon and additions as aforesaid, together with an attorney's commission of five per cent on the said principal sum, besides costs of suit, may be enforced and recovered at once, anything herein contained to the contrary thereof in anywise notwithstanding, And further, the obligor does hereby empower any attorney of any court of record of the Commonwealth of Pennsylvania to appear for him and with or without a declaration filed in his name, to confess a judgment or judgments in favor of the above-mentioned obligee, his executors, administrators, or assigns, and against him for the sum of SIXTY-FIVE THOUSAND AND NO/IOO----($65,000,OO)---------DOLLARS with costs of suit, charges, and attorney's commission as aforesaid; on which judgment or judgments one or more executions may issue forthwith upon failure to comply with any of the terms and conditions of this bond or said mortgage, The undersigned hsreby forever waives and releases all errors in said proceedings, waives stay of execution, the right of inquisition and extension of time of payment, agrees to condemnation of any property levied upon by virtue of any such execution, and waives all exemptions from levy and eale of any property that is or hereafter may be exempted by law, SIGNED, SEALED AND DELIVERED IN THE PRESENCE OF {J' 1I111.ai. /J kt h., ;.( -' -2- " 7- 0- .' 00 I 0- G >- t.:. .'. 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