HomeMy WebLinkAbout1640
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TOGETHER WITH all and singulAr the tenemenll, heredilllments llnd appurtenanc~s Ihereunlo belonging c.r in an}"Wise
Ihereunto appertaining Ilnd the renll, iuues and pro6u thereof, llnd lllso all Ihe estate, ri~ht, litle, inlerell an~ all cbim and
demand wh;>lJOever, u wen in bw u in equity, of the Pid Mortgagor in and to Ihe .ame, tncludtng but nOI Iimlled 10:
(a) ..\11 renll, profiu, ~nues, royahies, right. and benefit. d,'ri\'ed from (1) crop. grown on .aid s~curity and produce
of Ihe soil ot~erwise (2) oil, gas or mineral leases of the premi.es or any pa,t Ihereof, now exi!ling or hereina!ter made,. ~nd
(3) all olher renll, luues arod profils 01 (he premises from lime 10 time a(('ruinl(, whether unda leases or tenanCl..s ~ow ..""Itng
or hereafter crellled; in each such case wi.h the right in the MQrll(al('r'e, but only at it. <'plion, 10 receive and rrcelpl Iherdor
Md to apply the same as il may elect to any indebt..dneu lecured h..reoy, and Ihe !.!orll(ag...., at :u oplion, may demand, sue for
and reeo\er any such ~ymenu, reserving to the MOrll(agor, however, so long- as .aid Mortgagor i. not in default hNeullder, Ihe
right to recei\'e and retain luch rent., iuues and profiu.
(b) All judgment., awards of dl"fTlages and selll..ments hereaftn nude 'u a result of or in lieu of any takinl( of Ihe
premi.es or any part thereof under the power of emincnt domain, or for any dam:ll(e (whether c:"ucd by mch takinl( or other",i.e)
to the premi.es or the improvemenu thereon or any part thc,,"nf; such part of any such jud<:ment, award or selllem..nt, a. thc
Mortgag..e may el~1 to be appli..d to the indrhtednes! hei'eby secured and tn.. balance th..reof. if any, to be r..cryrd to the
party or parties otherwi... entitled thereto, .
TO HAVE AND TO HOLD the above granted and described prrmi<e. 10 the "id MnrtPal(~c, il. succeno" a...d :u.igm,
fore~r, aMwi .a. ..ill tfJl. t!;.lL!l!1 J__. I.....'-b, run: n....n.11. ,,In_ d\l~ ,U' ~(1.1\1 )"1Id, .\lld .....111 dt.Crlld \ll'C" ~o1l1lt... not,..,;lIH .llt... l.nrful
dL..,4 At all ~UUI" IU_II er; provided always that if Mort~al(or .hall P"\' to ~{ortl(:l<:ee that c~rt3in promis<o,,' notr above
descri~d and .hall perfonn ali other covenants and conditions of .aid prominory note, and of :lny r..nrw.,1. c"t~nsion or modi,
lication ther~of. and of thiJ mort~a!tc. then this rnort!(age and the e":lt~ hrrcby ('("'tl'r\ ,hall c",'r ao,l h<o null an,1 void
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Mortgagor further covt'nanll and a"r~. with Mortl(agee as follows:
t'1 1. To pay all sums induding intere.t securcd hereby when due, :IS providcd for in .ai,t promissory note a~d. any renewi
~xtension or modificat:on Ih~reof and in this mort!!,age, all such Junu to be pa\'able in \.1wful monr\' of Ih~ l nltcd SUkS of
'funericlI at MOrl~ao;ee's aforeS3id principal office, or at .u:h "Jlher place a. Morto:a~ee may designate in wrilinl(,
2. To pay when due, and without requirinl{ any notice from Mort<:a':{e.., all taxl'<. :l"cs<m~nt' of any typ<' or n:.ture
and other char~es levied or as,,,ued ao:ainJl Ihe premises hereby encumocr~d or any intNnt of M'HI<:;ll:;e thcrci", To immedi.
IItely pa., and di<char~e any claim, lien or encumbrance against such -~rmi<..s which ma~' be or Ot'come <upcriM to this morl-
pge and to permit no default or delinquency On any other lien, encumbrance or cha"~e :I<:ainst such premi.~.,
3, If required by Mortga!tee, to also make monthly dep[>iits with Morto;:a':{ce, in :. non-inlerest hc:uin<: account. tOl(ether
with IInd in addilion to intere.. and princi~I, of a sum equal to onc-twelfth of the yearly I.IXC' and a"r"ments which may be
levied a~ain't the premi...., and (if so required) one.twelfth of the ycarly pr..miums for in.manre thl'rron, The amounl of such
taxes, ~um('nts and premiums, whrn unknown, shall be ..stimat,.d by Morto:a2;ee, Such d~posill shall ~ us..'; bv !.Iort!tao:~e
to pay luch taxes, a\!essm..nts "and pcrmiumJ when due. Any insuffiClenry of n:c;) account 10 pay mch rhargc, whrn due .hall
be paid by Mortgagor to Mort!!,a!tee on demand. If, by reason of any d"fault by Morlo:agor under an)' provision of thiJ mort.
ga,lte, Mortgagee declares all .uml .uured hereby to be due and payahle, MOrlo:agee may then apply any fund. in said acrount
..gaitut the entire indebtedness !ecured hereby. The enforc..ability of the cO\'t'n~nts relatin" to tav'. aSles,mcnt. and inntrance
premit:mJ he~in oth~rwise provi<ied Ihall not be affected except in 50 f:lr a. tho... obli<:ations have Ix-en met by compliance with
this paralflapb. Mortpgee may from lime to time at its option waive, and after any such waiwl rcin.tate, any or all provisic.ns
hereof re<;uirinlf such deposits, by nolice to Mortl(a!!,or in writin~, While any Jt:ch waiver i< in ccreel ~!ortgagor .hall pay taxe.,
aueaments an<! insurance premiumJ u herein elsewhere provided.
4. To pay all taxes, ..amp tax or other charge which m~y be alS('~..d upon this mortl(all;e. or said nOle, or indebtedne...
teCUM h..reb" without r('tt;ard to any law, Fedt'ral or St.~le, ~eretofon vr hereafter ('nacted, impo.ing paym~nt of all or any
part th~reol upon MONga"",... In ewnt of enactllW'nt of any law imp01in" p")'Tnent of all or any portion of any ",ch taxcs upon
Mort~a!fee, or the ~nderinlr by any court of last resort of a d~cision that the unrlertakinll; by Mortl(al(or, aJ herein prvvided, to
pay tut'h Ull or tax~ is legally inoperatiw, then, unl..u Mortga~or n",crthelr.. p"ys such taxes, all Jurns h~reby S<'curcd, wi thou I
any deduction, .hall at the option of Mortgagee become imrnedilltely due and payable, notwithstanding anythinl( contained herein
or any law h..~tofore or hrreaft..r enactEd.
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5. To k~p the premis" insured aaaillJt Iou or dama~ by lire, windstorm or extr;'lded coverage and such other hazards :u
may be required by Mortgagee. in form and amounts satisfactory to, and in insurance compani... approved by MOr!l(3o:ee, and with
ac~"e?lable mortgall;re Ion payable clauses attached. Such policiM. t~ethtr with SlJrh abslracts and other tille e"idence aJ may
be requirl"Cl by Morti{lIl(N", thall be ddh'ered to and held by Mortgagee wilhout liability. LTpon for..closure of thi. mortgage (}r
otber acquisition of the p~mi...s or any part thereof by Mortgagee, said policie" abstracts and title evidt nce shall ~com.. the
abeolute property of "{ortg3~~,
6. To lint obtain the writter. c~t of Mortp~, IUch con",nt to bt' v:rantcd or withhrlrl :\1 the sol~ diJrretion v( such
Mort i\' llKff, bfof'ore (a) removing or demolishing any building now or hl'reafter er..cted on Ih~ pr~mi"'J. (h\ altrrinl( th~ arran~e-
ment, de!li~ or Itructural charactf'r thereof. (c) making any rt'pairl which in\'olve the r..mo\,ll of tlructuf.ll partJ or rjJI.
np<Kur~ of the interior ot. luch bUildinK, to the elemenu, ~r (d) except for domf'stic purpo...., cUllinll; or rrmO\'inl{ or per7tin~
the cutllns and rer.1OVal.' ,." .rea Of limber on the pranua,
7, To maintain prerH"~ in ~ condition and repair, illc\udinc: but not limitt'd to the makinl( o( surh rrp:li" .H !\Iorlo;ao:re
ma)' from time to time determine ti) be neceJsaly for the preservation of the pr..mi~1 and to not c;)mmil nor p<"rmit am' W...t,' thrr..of
a, To tomply with all bWl, ordinances, J1!lIubtioru, covenantJ. conditionl and rCJtriction! :lffrt tinl( thr prrrnisr<, and not
to AlBer M permit an)' vioUtI_ ~.
9. II Mor!gaJOr fails !-:o ~y ."Y claim, tier. or encumbrance which i. sUp.!rior to thi, mort o;a l(f'. or, when due, any lax or
......,'\t M mtUrw.nct premium. Of to keoep t:se prnnbet in repair, or shall commit or pt'rmit waite, or if there ~ commence<!
any action M ~q .need... tM pt'l'ftIl~ ~ the iitle thereto. then Mortgag~, at its option, r.l~y p;ly uid rl \im. lien, rnrum-
~anc" tax, _~t M prnaium. with righl 01 subroc~tion the~ndn', molY m"ke surh ~p:lifl :\Ou take sllch strp' as it <!e..ms
advbable to p,ewnt M (>J~ fUCh "'ute, and may appeu j", any luch action or pro.-M'din!l IInd retain ,'ouruel therein, and tr.lle
MaCh ACtion tUR'!.n as MortpPf! d~ advlsal*. and for aay of laid purpoaet ),{crtg:a~ may ..d\'ance s;:ch IUms of monrt',
iAc1udl", t.h c:c.<<t, feel ~ o~ Item' of t'llperue u it detrw. flt'fetYry. Mortl&&ee shan be the IOI~ jud!!,e of thf' lel\'&lity,
validity aPd priority of LeY lo4eh daim, lien, ~umbrance. t&ll, .-rr~nt &n1! F-remiurn, And of the amount n~ceuary 10 ~ paid
III ..dtfKt',qn tMreof, Mot.......un ftQt tit beAd Att9WltNMe fOf any deby in" makinl I'ny Icch payment, which delay may
r~~a1t in eay ..ttiiti_I ift~, tott. ch.rpa or apenM ~
~p&ol' will pay WiMOf'tCaCee. immediately and without demand, all sums
~J~':T~:: '~::u:;ztet;. :: =~~'::ndtO:l~t~:L~hW~~i:t:~~6t
intel"...t~._, 8ban . be ..euredher.by it made by Mo~gagee for the account of
MO~ -ft....~'''>M~crl. d~ult,
,U.... ",'N ~~~,!".Of', ',:."~'Q.' r.recy shall be p&Yllble without any relief
';..~.Gt. law..