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HomeMy WebLinkAbout0612 ... ~o3i 17 PACE~ Mortgaaor shall pay to the Mortgape any amount. nile......., "-0 nwe up lhe deficl(,Il~Y. Such pAymelll shllll be mwe within lhirty (30) da,... ai~ writt-en notice lrom t.he Mortg~ Il&tine lhe amount of the deficil'llcy, whieb not.ice ma.y be ~ven by mail, If at. any tJme t.he Mol1<<agor shall ~ndcr to the Mortgagee in accord- anea Titb &he proviaaooa of &he not.e ~ured hereby, lull paymt"nt of t.h!l entire indl.'btednt'U r'Cprt'B('nW tbenby, the Morf<<agee "li~ll. in computing ~e amount 01 lueh iodebLcdnetJ8, credit. to the account. 01 "he M"r1CaIOr' any emit balaoetl remaining wider the proViaiOIUl 01 <a) of said pnragraph 2, If there shall bf! a dplault. -under any 01 &he J?rovisiool 01 Lbie mortg~ reeult.iog in a public aale 01 th~ premille8 covert'd hprebYi or if the Mortgagee at"qUlJ'M \be propeny ot.henrllle dter default., the Mt)r1(t~ee shall apply, at. Lhe time 0 the commenCf'mt'nt. 01 luch proeeedinge or at. the time the property is otberw188 acq,uircd. lbe amount lhcm remaining to t'ffilit. 01 Mortpgor under (a> of Pf'I'li"Aph 2 preeroiDl( as Il credit. on t.he interest. accrued and unpaid and the balance to t.I1e -principal then I'flma.ini~ unpaid on ..ud note. .. He wiD pi' all as., "'-DW, water.... ud other ~ta1 or mUDieipal oharpI, .... or ImpoIIitioDl, for wbich proftdoD bu DOt. beeo made b:areiDbefcn. and In default t.bereoi the Mortppe may pay the ....; aDd ~ be will promptly deliver tbe omcial...... UaerefOl' to the Mortpcee. a~ =r~~~=eriaDO\be-:.~.r=;~d:r3:"~*~=::r.:~1~ ~r:~ ~ and tboee to be Cl1'fJCt.e4 OIl IekI premiIee, 01' Impro?emeJlts tbenoD, ia &ood repair the Mortp&ee may make euch repain .. ia ita dl8cfttioD i~ may deem ~ for the proper preeervation ~, aDd the full &mOUDt. nI euh aDd fJYcry euch paymeo\ IbaIl be due aDd payable Wr\y (30) daye alter tt--d, aDd aball be eecwed b7 ~ lieD of thIa IDOl.... -: e. He wW pay aU and"War &;be ClON, ~ aDd ape.... iDcludiDa reuooable lawyer'1 feM, aDd co.t8 01 abNacta of title, iDourred 01' Paid a1 aD.)' time by tIie W~ becau. of the failure on the pan of the Mortpp promptly aDd fully to penOl'lD the qreementa aDd GOveD&Ilta of aid ~ DOte aDd Wa mortpafl, and alJd oo.ta, charpI, and ~ IIba1l be bDlDII'llJ-\eIJ due ud J>>oYabIe aDd Iba1l be a8cured by the lieD of tb. mortpp. 7, He will CODtinuouab maintain hazard imurance, of web type or typee and amounts u Mort,pgM may from t.ime to time I"equire, on tbe im~vemeota now or benafter on laid prem.iaee\ and except when p&ymen~ for all IUeh ~U1DII hu tHretofore be.m made under (.) of paracra,Ph:: bereof\ be will pay pro:tJy wbell due aD)' premiums t.berefw. All iDeuraDoe aha1l be carri8d in com~meI approTec1 by Mortgagee the poll. _ and renew.. thereof ehall be held bY' Mort.p.pe and baTe att.acl1ed thereto to. payable- mWlM in favor of and in form acceptab&e t.o the M~ III ....eot of Joe he will gin immediate notice by mail to Mortgagee. aod MO!'t.ppe may make ~f. 01 _ if DOt. made promptly by MOrtpcol', and &&ch iD8urance oompan:r concemed ia benbY.AuthoriSed and directed to make payment for IUch - directly to Mortpgee instead of to Mortp&or and Mortppe jointlY, and the iDIurance ~, or any part tbereo~\ may be t.p,Plied by Mort- pge3 at. ita OPUoIl ei...... w the reduction of the iDdebt.ecl~ hereby Mciured or to cae ftlAtoratlon or repair of the property ~ In event. of fo~ of this mortgage or other transfer of title to &he morlpged pro~Y' in _tingu,~1""'Il\ of the mdebtednea lMCured hereby. ill~" title, and intere8t. of the Mortgagor ill aDd to IIl1' imuraDce ~ t.ben in fon:e eba1l peal 1.0 the ~ or paat.ee. 8. He will DOt. execute or file of record any iDltnlDumt which imp0te8 & reetriction uooo tbe sale or occu- pancy of the propel1.y delCribed herein 011 the buie 01 race, color, or creed. 9, If the premisea, or wy part thereof, be cond6Dlned under the power of eminent. domain or acquirt'{l for a public use, the damages awarded, the procoods lor t.he taking 01, or tbe oonaideration for such acquisition, to the extent. of the full amount of the remaining unpaid indebtedness leCured by this mortgage, are hereby U8igucd to the Mortpgee, and ah&ll be paid forthwit.h to.id MOf.'PIee. to be applied on account of the laat maturing inat&llmenta of sucb indebt.edne81, . 10. The Mortppe may, at any time pending a swt upon this mort,pp apply to,t,he oourt. havin(t jllrisrlk- t.ion thereof for the appomtlnwt or & rece1ver, aDd such court &ball forthWith al;lpoint a receiver of the premiBE'B covered hereby ell and ,;~hU', inclu~ all and aiDgular Lhe income, proDta, lIa\JeS, and rennUN from what- ever 1IOU1'Ce derived, eac,h and every of W'hi~ it. being expressly undentoOd, is hereby mortgagc<l as if specifically eet forth and described in the granli!lg habendum clauses hereof, Such appointqlent. ahall be made bv such court. .. an admit.ted equit.y' and a matter of abeo!ute rigbt to aaid Mor~, and without. relerence to tho adequacy M inadequacy of the valu~ of the property mor1l~ or to the aOlvency or insolvency of said Mo~r or the ~efend~ta. Such rents} J>I'Ofita, ~OOmo, "u., aDd revenues ahall be applied by aucli receiver &COO to the lien of thia mortgage &net the practiee of eueb court., In the enDt of allJ defaUlt on the part of the ~ o!'tpgor hereunder, the Mortpgor ~ to pay to the Mo~ 011 demand 88 a reuonable monthly rental for the prenme. an amount. at. leaat. eqwvalent to ooe-tw81fth (X,) of the aggregate of the twelve monthly inat.a1lmenu payable in the then CU1Tf11t year plus the actual amount. of the annual taxes, -.ewmenUl, water ra'-. and Wun.D08 prem.iUlDII for sudl year not. covered by the aloreaaid monthlY' payments. 1 L In the ennt of any breach of tbill mortpp or default on the part of the MOrtg&gGf, or in the event. that. aDY of Mid sums of money herein referred to be not promptly and ftlUy paid a.ecording to the tenor hereof or in the event that. each md every the stipulatioDA, ~ntaJ conditiona, and covenantAl of said note and Lbia ~, are not duly, promptly, end fully performed or it the Mortgagor be adjudicated b&nkrupt. or made defendant in a bankruptey or ~iverahip pfoceedlnp: then in either or.oy such event, the said aggre- gate aUlD mentioned in aid note then remainmg unpaid, with interest accrued to that time, and all money Iecured hereb~l ahall beeome due and payable forthwith, 4lf thereafte., at the optwn of said Morlg~l II fully and OOI11IHet.dy: as if..u the Mid WlM of money 'were originally atipula~ to be paid on lucb day, any- t.binI.isuaid note 01' in. thismor~ to tb., oontn.rY,DOtwithA~diug;.~a thereupon or therealur..at the option of Hid M~, WithOUt. DO~ or .de~, a!'llt at. law or m eqwt.y, may be ~uud '" 1f &ll Dionen eeeured herebv had IDAtUMd pnor to itA lOItltUUon The MOftppe may ro~lOee tms mortgage, as to the ~\D\t 80 detlU"ed due and pay-.ble, ~ the Wd p~rm- aballbi eo<<l.to oatiafyand ))61 the aame toset~er With 00lMa( ~Pf'MN, ud .uOWaDCt!iI. ~ of partl~l fo~ of thie mortgage, the mortgaged premises aha1l be solc1 aubjeet to the ~uing lien 01 -.hie ~ for the amount. of ~ debt. DOt theil due and unpaid. In auch CMe the proriaioM of ,thiIt paragraph may epm be .TaiIed of thereafter from time to time by the M~. . . : 12, No waiver of &n1 c.oveo.ant herein or of the obligltotion aecured hereby \\hall at any time tlwreafler be held to be . w6iY~r of the tam. hereof or of the note lJeCured hereby. , 13. 'I'h81ien of thi8 iMl.I'u.mint shall nmr.m in full iQl'Ce &nd effc-ct during any pc&tpont'mentor t'xtension cl the \ime of ~ymenl. of the indebtOOnel!l8 or my put thereof eecu.red herelly, 14. This mortg&b~ is given to secure t.he pu.rch~ money, or .. part thereof, 01 the land!l herein deacr:bed aDd ia uecuted &nd dt'livered oont.em{l'Oftwt'OUaly 'With the deed therefor. ' 15. If tha MOfti'~r deCAult i..u lUly 01 the i.:(rremmt.il, or agr-oomenta oontained herein, or in said not~, then the Mortp((~ mAY perlonn the Mmtl, and an ex-penditureo. (iudud~ r:taoo~,.b~e ~t~Q1TieY'8tN~~) made by the M~ ~ 00 do~.ball draw wtered d the fate pfl?V14ed for 1llth~ pnUl'!pt\1 ihdebledn~, a.nd aluill he ,...iable thirty (30)aays aftfi dem&nd, Ad, t.opthn- 'Wltb l1;lt.ere.Jt and ~tA &eCfUed t.her~n. ahall bf, 6e(lured by this morl<<., 16, Upon the req\k~t of the Mot"tgagt'il the Mo~!:' ab.&l1 eX0C"Jt,e and de.ll'll"{>,.i" 3 &u?ple-,mcutal note or DOW 101: the.~ or ~~ a.d~ced by tJie M~ for t;.ba .atwlloUon, modemiDtlotl, improvement, main- UlnIft.-aJ. Of t'$pa1t of MId ~~,b taxeiJ oc ~ts i-gamat the ~ a.nd for any other p-urpos;e author. bed henmndu. ~ ~ (K ooteli .an ~ ~.aOO he1<eby en a p~tr with f.U1, d M fully ar; jf tl~ ad van~ .~ t.bM~1 wen iMlude4 ift * ~\6 ftnt ~.a a..OOl'e. &id .upplerosttal no~ or noia .la.U beu " ("(..,~ :! it- <r~~.__''''".r.'~~~~-'-''''''''-'''''''-''''''''.~~-----~''--' ,=-,_..~_.~---'---'''~