Loading...
HomeMy WebLinkAbout0726 ~oRK 2 117 sue,: ,.s.i-:_t,.•f.. _ ~: 3. If rho total of tl-e aymentamade by tl c~ ~r~r ~~UkT~, ~~./. p IV~ortgaggoor under (a) of paragraph 2 preceding shall exceed the amount of payments actuary made Ly tho Mortgagee, for ground rents, taxe`a and assl`ssrrrents, and insurancS` premiums, as the cast! may bo, such oxces.4 shall be creditS`d on subsequent payments to be mado by the Mort- gagor for such items or, at Mortgagee's option, shall bo rofunded to Mortgagor. It, howevor, sac'.: monthly ppayments shall not be sutliciont to pay such items when the same shall become duo and pavablo, then tiff 114ortgagor shall pay to the Mortgagee any amount necessary to make up rho deficiency. Suer payment shall be maelo Wlthln tlilrt j (.iv) :inj'a iifta;i +iTittv'Tt iiutiC3 fium tilt ~ivitKa•-i'i~ atiati:~ t10~ 3:T:^::::~ef tl!n ~n~rir•nn~•• which notice may be green by mail. If at any limo the Mortgagor s~ull tender to rho Mortgagee in accord- ance with the provisrons of the polo ac•curc:d hereby, full paymc`nt of the` entirn indc•btc`dnl`s.4 repres~utiYl thereby, rho Mortgagee shall, in computing the amount of such indobte`ilness, credit to the account o[ the Mortgagor any credit balance remuinirig under the provisions of (a) o[ said partgraph 2. If them shall bc` u dotuu t under any of the pmvisions of this mort.gal;e resulting in a public solo of the` prS•mise`s covemd homby, or it the 14ortgage`c acqurroa the property otherwise after default, the I1lortgirgee shall apply, at the` timr of the commincomont of such prncS`eelink-s or at the time the property is othorwiso acquired, rho amount then re•r!1±IIlIr11L' t0 ere•dlt of A4ort.Ragor under (x1 of nqn+vraph 2 nrni•t`tfin-• ,IV x rrS`dit on the rntorrst accrued and uuptrid and the balance'to the` principal then remaining unpaid on st-id note. ~. He s`i,ll,- pay all taxes, s..~e~ants, water rates, and other governmental or municipal charges, rises. or irilpvsitiVia~t`+, r•l:ich prop^4-io?! l:a,~ not men made hereint>vfcrc, and in default rho.-^~f the M~rt~^~ ~.a;; r..; *hp same; and that he will promptly deliver the official receipts therefor to the Mortgagee. 5. He will permit, commit, or suffer no waste, impairment, or deterioration of said property or any part thereof, except reasonable wear and tear; and in the event of the failure of the Mortgagor to keep the buildings on said premises and those to be erected on said premises, or improvements thereon, in good repair, the b'Iortgagee may make such repairs as in its discretion it may deem necessary for the proper preservation thereof, and the full amount of each and every such payment shall be due and payable thirty (30) days after demand, and shall be secured by the lien of this mortgage. 6. Ifs will pay all and singular the costs, charge, and expenses, including reasonable lawyer's fees, and costa of abstracts of title, incurred or paid at any time by the Mortgagee because of the failure on the part of the ;Mortgagor promptly and fully to perform the agreements and covenants of said promissory note and this mortgage, and said costs, charges, and expenses shall be immediately duo and payable and shall be aecurrd by the lien of this mortgage. 7. Ile will continuously maintain hazard insurance, of such type or types and amounts ag 1lortgagce may from limo to limo require, on the improvements now or hereafter on said premises, and except when payment for all such premiums has theretofore been mado under (a) of paragraph 2 hereof, he will pay promptly ~rl-en ~.-_ at..,_ t„_ All : .. ~r1..11 rte.. ~a in ..nrnnon nc nit ~ nrfvwons. aryl ti!n ~al~- tluP oily vrrtiii ii ties tact c~tva. ~>.aa aiaou'• uw .~ .. ., v.-. .. --,-.-.-1..-- S~!pr4v..~ by 1--- ,.,-..- - cies and renewals thereof shall be held by Mort};al;oe and have attached thereto loss payable clauses in favor of anti fir. !rr^: !!rr•r~tet},1~ 4.{- et,g ~~prtnn<rpa- Tn ovnnf. of lnca h~ wilt Pie r immS`dlat~ nnf.u•n by mail in \inrt~.w~.no Anil \inrtScs-~ic may makes prStof of li-r;a if ant. ?t!ndC+ pmmptly by \tartl~a,~mr, and Drub 'rnr;urance r_•S~mpxny concerned is hereby authorized and directed to make paymont for such loss direxth• to ~4ortgagee instead of to Mortgagor and Mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by \fort- gagce at its option either to the reduction of the indebtedness hereby secured or to the re`storatiun or repair of the property dama{;ed. In event of foreclosure of this mortgage, or other transfer of title to the mortga};ed pruport.y in extinguishment of the indebtedness securnd hereby, all right, title, and interest of the :1lortgagor in and to any insurance policias then in force shall pass to the purchaser or grantee. K. Ili will not exicuto or file of record any instrument ablate irnposos a n•stric•tiun upon the sail or aiiu- pauty of the property d~'siribed herein on the basis of race, color, or eroerd. !1. 'I'Lo ~tort{*a{~ii ma~•, at. any tinu• pending a suit upon this nx-rtt;agi, apply tit the court hr-ein~ juri.dit•- tion thcriu[ fur t}-c aplwintnu•nt ufi a ricrivor, and such court shall forthwith appoint a rerii\•or of the prinlisi: .•,..•i.,-t•tl ht•r•ih.• x11 :Ind siu~~uh-r. incluilinr; all and singular the iniunu•, profits, issues, and n•yS•nuis fralu \\-h:lt- i\"ir suurii diri\•id, inih and i\'iry of +rhiih, it Mint; ixpre.~ly undirstuud, i. hirih~• mortgaged us if .pit~ilit :-!!\• a•t forth and diseribed in thr grantink and hal-S`ndum ilausix 1-iriaf, tiuih appointment shall hi mride h.\• .uih cual•t as rip adnlittid ettuity and a n-attor of ahsuluti ri};ht to said Morl~a~ii, aril e•ithont rifirv•nii to the adittuaiy ur inadiSluaey of the \'alui of the property mort{;ukid or to the sS-I\•inc}• or insul\'incy of said \lurtt;a~~ur ui• the difindants. tiueh roars, profits, ineouu`, issue,, and ri•\•1•nni•s shall hi applied h~- suel- r-ieii\•ir :Siiurding to the lien of tl-is nu,rt{;ugi and the pnu•tico of sash i.ourt. Ir- the feint of ring diGlult on tl-e hurt of the \lurtga}~at• Lireur-dir, the ~lurtru~ur akriis to pay to the \lart~ri~ii un din-and as a reasonabe n-onthl\" n•ntal fur the 1-rin-isis an anluul-t at hula cSlun•alint to one-t\+•elftll (',_) of the a};gri Kati of the t\+•rl\'e uulnthl~• inxtrilhniuts payuldi in thr thin iurrit-t year plus the ritual xnumnt ut the arulna~ta~i,, asse;::uu•uts, \+•atl•r trills, and insur,ulei priuliun-s fur suite y~•ur not ioyS•riel l-y the aforesaid ruonthly paynu•nts. I(1. In the i\•int of any Lriaei- u[ this nu,rtgago or default un rho part of the ~fort{;a}~ar, or in the i\•int that tiny of .aid sums of nulney hrriin rifirritl to bi nut promptly and fully paid aicunlin{; to the tinur hrriof, ar ir- the S•\'ent that eaih :u1d i\•iry the stipulations, a{;riernrnts, ionditiatts, and euconants of .aid null tu-d this nutrtkagi, are nut duly, pnrmptly, and fully porfuriuod or if the Mortga{,nrr bi adjudiiatid i,ankrupt ar uladi di[eudunt in a bankruptcy ar ricii\•irship praieeSlin{-s; than in Dither or any suite i\'int, thr said at;gri- rate sum nu•ntionid in s,-id noh• thin rinu-inln~~,,• unpaid, with inten•st accrued to that tiuu•, and all nu,ni~- st•rnrid 1-eriby, shall I-eeonii dui and payril,le f/rcti-with, or thiriaftcr, at the option u( said ~iort{;agii, ris fully ,uul iomj-letel}• as it all the said sums of ruunS;y wire uriguulll}• stipnlalyd to hi paid un suite dri~•, an\•- thir-k in said Halo or in this nurrtgnge to the contrary not\\•ithstandin};;snd thercutwn ur lhircaftir, rit tl-i uptit~n tit ~a,tl ~lal'lt~at~ei• \\"I11HtUt Ilutlei trr de111ritUi, ~Int at lag' OC lIl i'StUlt}', IIStI\• lri' pl'OSPt'lltPll as If till IlUrlli\'~ • l t ;~.. ••`•:•t•:1:: :. •L I- lf. .. _ ,. f.:::.:•1::~.• this a::u-!.•_:t:r,. ..~ !.: !!:.. ~1't'lll l'11 Itt'1 t't.s'itttai 'ttti i.il t~~i i.r:~%r ii . .~ ..., - - ,..•-i,- --- - r .- anutunt so dieiarid dui aril pa~ril,li, und•thi ;aid••prirlu~t~.,l:.ll! Ji s.dd !« S:aititr and pay the ~xrnt• tr~rthir \\ith iua., ixpinses, and nllo\+-ancis. In t•asr of partial forrclosuri of ti-is rnortgat~i, the mortt;agod prenlia: shall hi ~u!d subject to the cuntinuin{; lien S,f this murtgri{;i far the anu-nnt of tl-e drht not thin dui and unpaid. In suit Iasi the pru\•isirnls of this pararrapli play again be availed of thiriafter from time to tinu• I-}• the ~lurl;;agri. 11. \o w•ai~•or of any coyonant. herein or of rho obli{*ation set•urid hireb\• shall at nne tinu• therrafter be hill to hi a wai\•ir of the terms hen`S-f or of rho polo secured hirehy. . 12. '1'hi ilia of ti-is instrunu•nt shall remain in full forie and iffiit durin}~ unr postpon,•nu•nt ur rxtinsiun of the tinu• of paynuvlt of tl-i indibtidni~~ or any part tlu•reof seeurevl Lireb}•. 13. 'I'Lis nu-rt}~at~i is {;i\•in to secnro the purv•hase tlb-Iley, or a part thircuf, of rho Innds hrriin disiribed and is executed and STili\•irid contem{wraneuusly with the died therefor. 14. If-thrrMortgagar default in any of the io\•rnants or agr•ietnonts contained hiriin, or in said note, thin the J1ort{;a{;ii ulay pirfurm the sanu•, and all ispindituris (iniludink reasonable atturniy's fie:} n-adi by the \lurt{;agii in xi> Slain{; shall drri\y inh•rest. at the talc pro~•idid for in the principal intlibtidnis., told shall hi ripu\•al,le thirty (30) days rifler demand, and, tugMhor with interest. and coals acirurd thorion, shall be sieuritl I5. t'pon thr riSluist of the \tort{~a{;eo thr. ;lfortgagor shall execute and dolivcr a supplomintril Hall or Halls for the sum or sums advanced h}• the Murt};aKeo far the alteration, nu-dornizaticn, impro\•inu•nt, main- tonrinie, or repair of said pnvnise:~, for taxi, ur aswwsmints against the same :old for any other purl-t-sr authur- iu•d homundir. tiaid Hato ar notes shall ho secured hiriby un a purity \+-ith and as fully as if the atl\•rinco evidenced thS•reby were. included in the note first described slave. Said supplinu•ntxl note ur nuir~ shall hear T