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HomeMy WebLinkAbout0386 ST. i. k~C1~4431MT1~. ~~,A- ~tortgag.lr stall flay to the M:~rtgagee ally ?trttount tae+t~e?ry to rrral~e ufr the u eeency. Such patyrrleant shesli lie ma~its ~-itlritl thirty (~til) drttl*>:l aftil~r vr'ritterl n~atirc f.re,trt the Mortg etatittg tlse am+~urtt e,f tlle» dt=erit~ia•rsr.t', which notice way be ,l;even by mail. If at any timne tlrr :uortgl~ar stall trrlrlr~r to she 1Vfartger in aecor~i- ntlt-e writh the~ jp~re:vistorw rsf the` note e-~urad hereby, full payment of the' entire irrdFbted-te~ regr^t~rrttz~tl tht•rebv, the ~I<irt,f;ap;eae shall, ;n rctmputirtl~ the arwunt of such iAdPlytr'+,dne~l, cm+fit eo this ew~{rotlnt of th~• ~Ir7rtga{far wry crrdtt balance reznainirtg under ttae praviatans of (aj of ss.id p raph 2. If tltrre skull be r- d~•fa.tt t under any of the. pmvigions of this a~ortga~e regulti€Ig in a public salt of a pre•mis<~ rant=red herel;p, or if the ~lortgagre aetlu,res the pi•vperty othenvtge+ after default, the Iaiortga~ets flitall sappig•, at tilt' time of the cornme•ncentc'nt of !Turk prcxrrdin~ str at the tirtdle thr prr.+pc•rty is otherwtse ac aired, the amount thrtt retr:ainitag to rrcaiit of Mar , a}reir urxle; (a) at paragraph B precr•din~; ae u cre*dir on the interest ar;rued earl utlpsid >ar,d the balance to the principal then r•e>rtata.!rTtng urlpaTd ozl t.aid Holt., 4. Iie vrlll ~Sy ail taxes, laeeanrrrtta+,, srat~st rates, a>zxI other govet~amrntal ar I~unieipal charg+ee, fines, or impaeitiunre, for whkh provision has not been nts~lo herreiall~'ore, rind in default tiTer~C the MarLgsge~ may pay that :acme; and tinxt he 'will promptly deliver the official receipts therefor to the Mortgagee. $. He gill permit, oc,tnmit, or 1wAer no wTaste, impainn~ent, or deteriiuratian of said property or any part thereof except reaatoxtable wear and tear; eyed in the etven4 of Lice failure of the :4lortgaft,'ar to keep the buildingx on said premises toad t):ofe to be erected o>a eeald prr.IItirtc'~a, or impmverraenF.e thereon; in good trpaer, tksr. Mortgagee may make such repairs as in its discretion it, may deem ne~searv fo;• the proper pwaervatioi~ thereof, arx+Jd the toll amount of each and every such payment ekes! be duo arsd payable thirty (;3Q) eiaye after demand, and shell be se.eured by the lien of this tnort,Rage. _ t3. He will pay all and siugulsz the ©oste, e.1TSr~'es, and ezpenaes, inclucllag rea~nable Gswyer'a fees, and costs of abstracts of title, Encurred ar gmsd at any time by the Mortgagee because of the failure ot: the part of the Mortgagor promptly and fuIly to perfo~ ths•nts and oovenante of said pmntiasory Hate and this mortgage, anti said costa, charges, and expenses t be immediately due sad payable and shall be secured by the 1sen of this Invrtgsge, 7. He will aontinuou.al~ maintrain haaxtird insurance, of such tape; or trpeae and amounts as :Mortgagee may from tithe to time require, on the improvements now or hereaatter on T+atd premisesT, and except whet, gayrtent for all such premiums has theretofore beeen made under (a' of paragraph 2 hereof he will pay promptly when due any pretmutrs therefor. All insurance shall be caa-rie~ in cowpantes approved by :~iortg e'e and tf~e poli- raets and renewals thereof shall be held by Mortgagee and brave: attached thernto lose payable clauses in favor of and in Corm acceptable to the Mortgagee. In event of loss he gill give immediate notice by mail to ~fortgagre, and ~lortgage~e may make proof of loge if not made promptly by Mortgagor, and each insurance company concerned is harshy~ authorized and eiiracted to maitre payment for such loss directly to bfortga~ee instead of to 'tiortgngar and 'Vlort,¢agee jointly, and the insurance proceeds, or e.ng part thereof, may be applied by :~1ort- gagea at Its option either to t. a reduction of the indebtedness hereby secured or to the r~toratton or t•epair of the property dammed. In event of foreclosure of this mortgage, or other transfoer of +atla to the tnartgaged Property in extinKutlThment of tho i:debtedness secured hereby, all right, title, end interest of the :1lortga};or w and to any ittsurancd poliaiss then in force shall pass t~e the purchaser or grantee. R. lle kill not eatec•ute or file of record any last:ument wltic'll irnnos~s a restric•titul upon tilt' Salt' or otcu- pancy of the propert\• de'~:c'ribed herein on til~ basis of race, color, or crefvl. 9. Ii tilt' prcrnisc;,, ur arl~• part thereof, be cundetnucd udder t13e paws; of c'tninent dutnain, or actluirrd for a public use, the daruagrS awarded, the proceeds for the taking nf, or the considrration for such Rcgllisititnl, to the ctteut t,f tilc full atnnunt of tht' rt•maliling unpaid itldrbteclne~R secured h, this mortKagr, an' herch~• sccil;r,rd lt. the ~turtgal;ce, and shall be paid forthw~lth to said Zlortgagcc, to be applied on ecrowlt of tilt' last n3aluring installtnt'nts of yuck indebtednc89. 10. The \ferti;aKee ma~•. Ht env time 17endinG a suit upon this mortfage, appl~• to tht• court hHVinpL jnr'l~alit•- tion tllert'of fur the appulntnu•nt u~ a reerlver, and such court shall forthwitlT appoint R receiver of the prrnlact's covi'red herrb\• all antic, Singular, includirT~ all and singular the income, profits, tsaues, and revcnlie5 from \vhat- ever sunrce derived, each Rnd evt r}• of which, it brink expressly understood, is hereh~~ mortgagrti as if specifi;•sily set forth ant.! described in the granting and hal.)erdum clauae•s hereof. such appointn7ent shall be made b~• such court 85 RIl fsilmlLlMl ectuit~• an<l a matter of absolut+.~ rii;ht to said Mortgagee. anti \vithout referc'n~e to the adequacy- or inadrque~y- of tht' value of the property t7;ortgaged or to thr solvtnc~• or ins:)1\•t'ncc of ~aitl ~tur:i;hkur w• tht' tiefendr+nts. tinrh rents, prof t5, income, isfiut'9, and revenues IThall be a1)plieri h~' such reccicer acctirtiin~; to the lira of this nu>rtl;let:r had the practise of s!u•h curt. In the event of an}' drfHUlt .:rl the part of thr \l~~rtl;Ri;ur hcrcuntir•r, t}u' \,ttrtt;Rt;or ogre:~s to pav tv the ~.fortgHKee on demand as a reaS<tnahie Inunthiv rental fur the prernise4 an r:mount Rt lcn,t equi\•aierlt to one-twelfth ~''iq) of the ag~re}~,Rt~ of the t\~rlce mnnt}tl~• in~tHlhnents 11a~~Hhle in the then cnrri'llt ~•ear plus the actual Rau+unt of the annual tRxcs, Rssrc.5nu'ntc, \vater raft°, Had insurance nre:aiuna fur sut'h year not covered !,'~• the aforesaid monthly' pa~-Inenis: 1 f. In tht' event of an}- breHCh of this tat:rte:l-ge or tiefRUlt on the part of the ~torti,~itF~or, rtr in the evt'nt that an}• u( KRitl solos of Ito>nev herein rt•ferred tt; kx• not prunlptlti• anti fully paid Rt~cortlini; to the tract hereof, ur in t}li. event t}lat each anti evrr~• the stil)ulRtiuns, R~±reeincnts, t•+~ntii'.iuns, Hntl cov~t'nantc of ~Hitl nett` nett tI13S illrtrt~!Hlt•, are nut dlll~•, i:rutnpti~', and fu?I~• pcrforrneci or if the ~lortgRf;or 1>t' adjud•,catetl b,ln?~:rapt m' made drtrntlant in R hankruptc~• or rrceiver~hip pru.ectiit;~-s; then in eitlser oI Rnv sac-1 event, tiit• sr.itt w~~r~It'- i;atP 511!11 ila'Sltlunt'(1 IIl Suit{ 17t)te tht'tl re[ilallllrl" UnL1Rid, K'lt}1 1r1tC'r('St aClrLlt'ti •CtJ il1Ht tlnle, 81111 Hl! I11uIlt'1• ect•urcd hr'rt•b\•, shall bt`cttuu' <1~1c and pa~-Hble i{~rthw-ith, ur tllt'rr:Iftc'r, at the option of ::sill \Iurt~lHy~e<•. a5 fllily ruin t't,rnpleteiy Rs if all the chid sutl7s of rnr)ney ~s•eri' ori;;inally stipulat:-tl to be uHitl u,t S!1t•h t~a1', Rn\-- tlillti! 1P. eRlil Ili!te ttr ]I1 tll?S rflttl t~f.l;F` 1(1 the eCilltCHl'v Ilnt\4'IT..h5CaI1(lltl~; RIitl tlle:i t1t311i1 tlr tbF'{~t'Hfit'r. Ht flit' til)tltetl of Atlld ~lf,rt~fl~i'e, \i'1tnUlIL il~+ttel' Or (lt`Crltiil(l, 9!Ilt .it laW or m rglI1EF, nTAV bt' prC\Sf'eiltE`fl a9 II fill :llr"ti1C'v5 crc't3rrtl ltt`1't'li\' !lilt! TilRitlrt•il i)rlt)r t0 !tS '.I1titltiltlCtn. 1`ne t~C?!'t,rT,R~;it 171R\- fllri•Clt)rit' 11:18 mOrt;,r:frt', tt5 tt? !ill' Rlnt,lu;t So tlrc'lared clot- Rnd pa~~Rhle, and tFte salt! prerriis~s shall be st>}d tc~ Satisf~• tsnti pad' t.hr :.:lull` t~i~t`tiu•r 1A'ttll t'ttdt3. t`s llt''n°+t'S, 11 iit1 H11C)At'h[1C'(`3, In ('P~e Gt ptiTt l;ll f0:'t'('lt)'51.ICe of tlil3 1TUtt"t~t3p"t', the Tn(rI't ;*t; t;+'tl pCt'ilU~~'~ chap })t' F'~t~tl killijt t l t. a' CCii:lll llrl;~ iii`il +tf tl:lt, II1Sit tY 1~ e tOT' il1C' ftillfilttlt l)I tilt' tti`tii nut tllt'il d+A• ?lRtl llit~ln::l. lil aLCll i'R~P tlk' IhUAI'dt~n$ of tll,s pBrArrxl)11 rrla.' 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