HomeMy WebLinkAbout2588
r ~ sr, ~.
s. I! total oiithe eats made by the iuudeo: (aj ~ pata~taph 9 pt~eoedioCt~-U e~coseb the .
amount M~pa~aaeats ,,PetualU- mad° by ~° Mot't;~••~~ rents. farces and aa+d,~
pr~Oaiums, as the caN my M~ bs oa s~°°t payrtN°ta t~ bs _ by the
ga~or for i~h items or, of • shall bs_refunded to ~, If. hows~se. wield monthly
pp.~~neats shall not bs sutfbient b pay wt~o4 tt~oas ~rheg- the same etytlly~ dne sad_~a e, then the
Mortgages shall„p~y to the Mortg~ aq1 amount. neosMary to slake ap the del3eieuoy. each payoAe~tt 'hall
be made with~nihirty (30) days after written t~pties front the h~ s6sllstatiag the aouourlt of a deficiency,'
which ~Lioe ~ be liven by mail. If at sa~;ims tb4 Mortga~os sb bnder to the Mortgage•~ia aoooed-
anoh with the viwoas of the note seourOd 1~'•b7• roll paya~nt . of the entire iadebtotlness represented
thereby, tie shall. in oomputinr the amount of sash wdebtedness, credit to rise account of the
•t balance under the provbions of (s) of.said paragraph ~.. It then shall,be a
d t under aq~ of the i'r'ov~1D~ mOrt~a~° resulting in a.publ~c sak of the premises covered hereby
or U the Mortgagee scquu~es the property othet*w~se after. default, the Mortgs~+ shall s , at the time o~
the commencement of such proceedings or at the time the property is otharwisi ac~uired. the amount then
remaining to credit of Mo under ~a) of psragr aPh Z pso~w%:.e, -° : ; w nn :..~ ~..^.tsrl~t argued and
unpaid and the balance to tt-e Principal tthhen remaining unpaid on scud note. ,
4. He will pay all raises, assessaents, wares nt'°s' and otbee ~ovecamsatal o't mmtiaipJ charges, Saes. or
ipnpoedtions, for which provision has not bees ms+ds heeetbeta~re, and is default thereof the Mort~es may pU- We
acme; and that hs will promptly deliver ~° oi~cial reodpts therefoe to the Mortg~es. ~
b. He will permit, commit, e: sagas no wade, itnpairmean4 oe detArlotation a[ said propecty o•!~~ the~reot
except reasonabb wear grid tear' sad is the event of the failure of the M r to keep the b on sai~
premises and those to be ereote~ oa said premises, ae ~pr'ov'm~t ~~°0a`O0d repair the Mortgagee may
make such repairs as in its diseretiea k may deem necessary for the~coper preservation tbereo~, and the full amount
of each and every sash payment shaII be due sad payable thirty (av) da~ra sftse demand. and •hall~s assured by
the lien of this mortgage.
8. He will pay all and singular the nests, ahar~es,and exPan~. i°'oh~ding re~asoasW° 4wyer's fees, sad costs
of abatraat of titb, incurred or paid at aR1- time by the Mottaa~ee because of the failure oa the part of the Mortgagor
promptly sad fully to perform the agi'eeanents sad covenant of said pro®nieeory note and Chia mortgage, and said
~aats, charger, and eapeases shall be immedistaly due sad paysbb and shall be assured by the lien of this mortgage.
7. He will oa'ntinuonsl, maintain hisard insurance, of such type or types sad amo~ints ae Mortgagee may
from time to time require, on the improvement now or hereafter on said prsonibes and exoept~when payment
for all such premiums has theretofore been made under ~(a of paragrs~h Z hereof ~e will pal Promptly when
due any premiums therefor. All insurance shall be carried in companies approve by Mortgagee sad the poli-
cies and renewals thereof shall be held by Mortgagee and have attached thereto loss payable c auses in favor of
sad inform acceptable to the Mort~g In event of lose he will give immediate notice by mail to Mortgagee,
and Mo may make •pruof of loss if not made promptly by Mortgagorf sad each insurance company
ooncernedr~a~hereby~suthorued and directed to make payment for such loos dn~ect~y to Mortgagee instead of
to Mortgagor and Mortgagee 'ointly, and the insurance proceeds, or any part thereof may be applied by Mort-
gag9e at its option either to ~e reduction of the indebtedness hereby secured or to t~e reetorataon or repair of
the pisnerty dammed. In event of foreclosure of this mortgage or other trauster of title to the mortgaged
6 _ afl right, title, and interest of the Mortgagor
property 1n gattngu~ahment of the indebtedness secured ~thsypurchaser os Qrantee.
m and to any ~•~*!~nce policies then in force shall pass
S. He wilt not ezecute or file of record any instrument which imposes s restriction upon the sale or occu-
pancy of the property described herein on the basis of race, color, qr creed. •.
9. The btortgag~ee may, at any time Pending a suit upon this mortgage apply to the court having jurisdic-
tion thereof for the appointment of a receiver, and such court shall tort t~ s~point s receiver of the premises
covered hereby all and singular, including all and singular the income, profits, ~sauea, and revenues from what-
eversource derived,-each and every of which it being expressly understood, is hereby mortgaged as if specifically
set forth and described in the granting an~ habendum clauses hereof. Such appointment shall be made by
such court sa an admitted equity and a matter of absolute right to said I4iortgagee, and without reference to
the adequacy or roadequacy of the value of the property mortgaged or to the solvency or insolvency of said
Mortgagor or tine defendants. Such rents, profits, raceme, teeuee, and revenues shall be applied by such receiver
according to the lien of this mortgage and the practice of such court. In the event of any default on the part
of tl-c Mortgagor hereunder, the Mortgagor a&rees to pey to the :Mortgagee on demand as s reasonable monthly
rental for the premises sn amount at least equwalent to one-twelfth (~,:) of the aggregate of the twelve monthly
installments payable in the then current year plus the actual amount of the annual taxes, asaeaa~nenis, water
rates, and insurance premiums for such year not covered by the aforesaid monthly payments.
10. In the event of any breach of this mortgage or default on the pert of the :liortgagor, or in the event
that any of said sums of money herein referred to be not promptly and fully paid according to the tenor hereof
or in the event that each and every the stipulations, agreements, conditions, and covenants of said note anc~
this mortgage, are not duly, promptly, and fully performed or if the Mortgagor be adjudicated bankrupt or
made defendant in a bankruptcy or receivership proceedings; then in either or any such event, the said aggre-
gate sum mentioned in said note then remaining unpaid, with interest accrued to that time, and all money
secured hereby shall become due and payable forthwith, or thereafter, at the. option of said Mortgages, as
fully and completely as if all the said sums of money were originall~g atipulsted to be paid on such day, any-
thing msaid note or m this mortgage to the oontrsrx notwithatandmg;and thereupon or thereafter, at the option
of said Mortgeg~e,~ without nonce or demand, awt at law or in equity, ma be prosecuted as if all moneys
secured heroby had matured prior to ire institution. The Mortgsgee may foretloee this mortgage, ss to tl~e
amount so declared due and pay able, and the said premiace shall~e sold to satisfy and pay the same together
with cot;te expenses, and allowances. In case of parfxsl foreclosure of this mortgage, the wortgaged premises
shall be sold subject to the continuing lien of this mortgage for the amount of the debt not then duo and unpaid.
In such case the provisions of tLis paragraph may sga-n be.availed of thereaftes from time to time by the
Mortgagee.
11.. No waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be
held to be a w*iver.of the terms hereof or of the note secured hereby.
12. The lien of this instrument shall remain in full force and effect during any postponement or rstension
of the time of payment of the indebtedness or any part thereof secured hereby.
18. 'This morigage is given to secure the purchase money, or a part thereof, of the lands herein described
and is executed ~anndd delivered contemporaneously with the deed therefor.
14. If the Mortgagor default in any of the oovenaats or agreement ooatained herein, or in said note, than
thertMortga~ee mayup~gertorm the same, and all expenditures (including reasonable attorney's fees) made by the
rMepayable thirty (30) days after demand and,~tQgetherP vithdinterest sad c st caccrueddthereon sliaU bessecured
by thin mortgage.
lb. Upon the request of the Mortgagee the Mortgagor shall execute and deliver s supplemental ~t or
notes for the sum or sums advanced by a Mortgagee for the alteration, modernization, improvement, main-
tenance, or repair of said premises, for taxes or assessment against the same and for any other purpose author-
ized hereunder. Said note or notes shall be secured hereby on • parity with and as fully as d the advance
evidenced thereby were included in the note first described above. Said supplemental note or notes al-all bear
4 t . -.
`, ~
~a