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HomeMy WebLinkAbout2349 ST, lt~tlf CCLINTY. f{f1, TOGI:THEIt WITH au and dngular the tenements. Mseditatsesq and appurtea:acn thereunw bebngiag or in anywise thereunto appertaiaiag sad the eesb, issues said profib tbered, sad abo all the estate, Wit. title, iutsrst and all claim and demand whatsoever, ar well is law at in equity. d the raid Mortgagor is sad to the saran, including but sot limited to: (a) All reab, profits, rcvraues, royalties. righb and ,bfesefib derived from (1) uop grows oa said security and produce d the soil otherwise (2) oil, gu or mine: al katw d the piemues or my paK thereof. raw existing or hereinafter made, and (S) all other rents. issues and profib d the premises from tithe to tithe atxruing, whether under kaxs a teaaaeies raw existing a hereafter created; in each such case with the right is the Mortgagee, but only at its option, to receive and receipt therefor and to apply the tame u it may elect to any indebtedness secured hereby, and the Mortgagee, at ib option, may demand, sue [a and reco,er any such psyments, reining to the Mortgagor, however, so bag as said Mortgagor is not is default hereunder, the right to receive sad retain such cents, faun anti profits. (b) All judgments, awards of damages and xttkmenb hereafter made u a result of a in lieu of any taking of the premises or any part thereof under the power oI eminent domain, or for any damage (whether caused by such taking or otherwise) to the prcmisn or the improvements thereon or any part thereo[; such •part of any such judgment, award or settlement, as the Mortgagee may elect to be applied to the indebtedness hereby secured and the balance+ thereof, if any, to be rexrved to the party or parties otherwix entitled thereto. TO IIAVS AND TO HOLD the above granted and described prcmixs to the said Mortgagee, iu successor and assigns, forever. and the said Mortgagor dos hereby fully warrant the title to said land, and will defend the same against the lawful claims of all persons whomsoever; Provided always that it Mortgagor shall pay to Mortgagee that certain promissory note above described and shall perlorm all other covenants and eogditioru of said promissory note, and of any rrnewal, extension or modi- fication thereof, and of this mortgage, then this mortgage and tht estate hereby created shall cease and he null and void. Mortgagor .further covenants and agrees with Mortgagee u follows: 1. To pay all sums including interest xeured hereby whrn due, u provided for in said promissory note and any renewal, extension or modifxation thereof and in this mortgage. aq such sums to be payable its lawful money of the United States of America at Mortgagee's aforesaid principal office, or at such other place u MortgageE may designate in writing. 2. To pay when due, and- without requiring any ratite from Mortgagee, all taxes. assessments of any type or nature sad other charges levied or assessed against the premises hereby encumbered or any interest of Mortgage therein. To immedi- ately pay and dischariee any claim, lien or rncumbrance against such premises which may be or become superior to this mort- gage and to permit no default or delinquency on any other 6ea, encumbrance or charge against such premises. S. Ii required by Mortgagee. to also make monthly deposib with Mortgagee, in anon-interest bearing account, together with and in addition to interest and principal, of a sum equal to one-twelfth of the yearly taxes and asscssnsents which may be levied against the preasises, and (i[ so required) one-twelfth o[ the yearly premiums for insurance thereon. The amount of such tun, atxssrrtenb and premiums, whrn unknown, shall be estimated by Mortgagee. Such deposib shall be used by Mortgagee to pay su.ls taxes, assessments and premiums when due. Any insuflicieney of such account to pay such charges when due shall be paid by Mortgagor to Mortgagee on demand. If, by reason d any default by Mortgagor under any provision of this mort- gage, Mortgagee declares all sums secured hereby to be due and payable, Mortgagee may then apply any funds in said account against the entire indebtedness secured hereby. The eniorceabih'ty d the covenanb relating to toes, assessments sad insurance premiums herein otherwise provided shall not be affected accept is so far u those obligations have been met bl compliance with this paragraph. Mortgagee may from time to time at ib option waive. and after any such waiver reinstate, any or all provisiau Accent requiring such deposib, by notice to Mortgagor iri writing. While any such waiver is in effect 1-iortgagor shall pay tun, assessmenb and insurance premiums as herein elxwherc provided. 4. To pay all taxes, stamp to or other charge which cosy be assessed upon this mortgage, or wd note, or indebtedtws secured hereby, without regard to say law, Federal or State. hercto[orc or hereafter enacted, imposing payment of all or arsy part thereof upon Mortgagee. In event of enactment of any law imposing payment of all or any portion o[ any such tam upon Mortgagee, or the rendering by any court of last resort of a decision that the undertaking by Mortgagor. as herein provided. to pay such tax or tun is legally inoperative. then, unless Mortgagor nererthelas pays such tam, all sums hereby secured, without any deduction, shall at the option of Mortgagee become immediately due and payable, notwithstaadiag anything contained herein or any law heretofore or hereafter enacted. S. To keep the premiss insured agaimt loss or damage by fire, windstorm or extended coverage and such other hazards as may be required by Mortgagee. in form and amounb utis[actory to. sad in insunnct oompanis approved by Mortgagee, and with acceptable mortgagee loss payable clause attached. Such policis, together with arch abstracb and other title evidence u may be required b7 Mortgagee, shall be deUvered to and sxld by Mortgagee without liability. Upon forccbarre of tl-u mortgage or other acquisition of the premiss or any part thered by Mortgagee, said policies, alsstracb and title evlderue shall bewsne the absolute property of Mortgagee. 6. To 5nt obtain the written coreserst d Mortgagee, stub consent to be granted or withheld at the sole discretion of such Mortgagee. before (a) reserving or demolishing any building crow or hereafter erected on the premises, (b) altering the arrange- ment, design or structural chuacter thereof, (c) making star repairs which involve the removal of structural parts or the exposure d the interior of arch building to the ekmenb, or (d) except for domestic purposes. cutting or rcrttosing or permitting the cutting and removal d arty trey or timber oa the premiss. ~ Y 7. To maintain premises in good condition and repair, including but not limited to the making of nsch rcpain u Mortgagee may from rinse ro time determine to be necessary for the preservation o[ the premises and to not cwremit tar permit any wale thereof. 8. To omsply with all laws, ordinance, regulations, ct+vsnanb. conditions and restrictions aAecting the premiss. and rat to suffer or permit any violation tlsersof. 9. It Mortgagor fait m pay say claim. lies or tr-cumbranoe which is superior tD this mortgage, or, whrn due, any to « aussnsertt sx insurance premium, or eo keep the premises is repair. or shall commit or permit waste. or U there be eommerteed any action or proceeding affecting the premiss a the title thereon, then Mme, at ib optics, may pay said claim, lien, encum- brance, tax, assessmatt or prtmium, with sight d subrogation thereunder, may make such repairs and take such steps u it det~u advisable to prevent or cure such waste. and may appear b any such action a proceeding sad retain oouasel therein, and take such action therein u Trfortgagee deeau advisable. sad for +ay d said purpaes Mortgagee may advance such stuns d money. ituludiag all costs, ten sad other items d acpease as it seems cseeessary. M shall be the sole f edge d the legality, validity and priorih d any such claim. h'es, mcumbsaaos, tax. asxament sad premium. and d the amount rseoewuy to be Paid - is saNdact;as theced. Mortgagee shaD not be held atx:otmeabis for fay delay is msd<ing any stub paytpeat, wlric6 de4y may result in any additional ir-teeest. moose, charges a expanse otherwise. 10. Mortgagor wilt pay oo Morepgee, immediately and without demand, sI1-asms d tnooey advasoed by Mortgagee pttra- aat eo this mortgage, together with iaoan: oe each web advaacemeat at the .rate d tea per cent. (10%) per anatmt, and ~ such sums and interest tltereoa shill be seetred hereby. 11. All. arras d mosey setweed hereby stsall be pgrabk witlant say selid whatever frost any valaatiou a appcaisement laws. 12. It ddauh be trade iq psyrrteat d arty bsstalmsst d principal or iatscest d hid sots a say part thereof robes tiffs, or in Payment, tahea tires d say oetser ass sacnred Lenby. a is pertansanos d asty d Moct6sgoe's eNiptioas, coresaap « agreersmt. hereunder, all d the indebtednew sstwsd Mnby shall beeorets and bs immediatdy dtse and payable ore the opetat d Morpgpe, witlsout notice « demand wAk! sus Issrelry agtesetty taaived, is wtoich watt kfaetgages my avail ittd[ d all righa