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HomeMy WebLinkAbout2824ST, IUCI t' T Mortgagor shall b the Mortgagee any a?~~-~Tto melts up the deRdenoy. 3uoh payment shall ~ made ~~ ty (30) days niter written notice h+om the Mo sN-ting the amount of t-lie deflc~e . , which notice may be ~ivea by mail. It at time the Mortgagos~ - shell tender to the Morigagee in nape with the provisions of the note secured htx'eby, full P4Y~-t o~ the entire indebtednew represented thereby. the M shall, is computing the amount of such indebtedness, credit to the account of tho ~gs~ot .under the provisions of (a) of said h !. It there shall be a . , default under~any of tth~e ~~od~ao~ mo redultip8 in a public sale of a premises ooveeed hereby • . . or if the Mortgagee acquires the propertj otl~~ attee default, the Mortgagee shall tip , at the time o~ - the oommeacement of such proceedings or at the from the prgperty is otherwise acquired, the amount tend - - remaining to credit of Mo under (a) of P4rc!B~Ph 2 pi+eoeding as„f- credit on We ~nte~st accrued unpaid and the balance to~rincipal then rezpainuog nnpa~d on said note. 4. Hs wit! pq an fazes, asseeemeots, waste ~~ other tal a muddpal obarges„ tines. os impoedtions, for whiah pmvlsioa has not been made ore, sad default tbered the Morepgee may PRY ~ same; sad that hs will pcomptl,Y deliver the ofBdal reodpta theretos to the Mortgagee. b. He wW permit, commit, or suffer no waste, impairmea~ oe dstedozation of said property ae~ thereof except reasonable wear and tear and in the event of the ure of the Mor~or to keep the oa sai~ premises and those to be erected{ on said premises, or improvements thes~eoan, In-sood repair the Mortgagee may make such repairs as in its wit ~ d ~ f ~~ ~~ shall be secured by of each and every such pRymeat , the lies of this mortg~e. - d. He will pay all and einaular the aoat+s. and eacpeares, ~'~~ reasonable lawyer's fees, and oosb of abstracts of title, inayrred or Paid st an~- time~ort~ee because of the failure oa the part of the Mortgagor Promptly and fully to perform the sareeo~eats and oovemaats of said pr+ornissory note and this mo , andd said poste, ohsrges, and expenses shall be immediate{q dve and payable and shall be secured by the lien of this mortgage. T. He will continno~usl~ maiatdn~asrd ianu'aaoe, of snob bPe or types and amounts as Mortgagee may from time to time require, oa the imPr"overaeots now or hereafter' oa said premises and a:cept when payment Z her+eot ~e will pa, promptly when for all auch_premiums has theretofore bees mach under (s ~ ~ ~appm~ by M srd the poll- due and premiums therefor. All insurance shau bs~ ages ties and renewals thereof shall be held by Mortgagee and have attached ther4to loos payab~cl uses in favor of . - and in form aooeptable to the M In event of foes be will give from to notwe by mail to Mortgagee, sad Marlg`ageeh~sy make •pr+oof~~ if not made promptly by Mortgagor, and each insurance company concerned >a suthorired and directed to make Payment for such loss directly to Mor~sgee instead of to Mortgagor and ~ortgagee 'pintly,and the insurance proceeds, or any part thereof maybe apF7ied by Mort- gagee al its option either to t~ reduction of the indebtedness hereby secured or to t'he restoration or repair of the property damaged• In event of foreclosure of this moor~ot~hera,~etra ~d ftetii~e~sti oft the Morr property in extangu~ahment of the indebtedness secured hereby, m and to any insurance policies then in tome shall pass to the purohaeer or grantee. 8. He will not execute or file of record any instrument which imposes a restriction upon the sale or occu- pancy of the property described herein oa the basis of reps, Dolor, or creed. 9. If the premises, or any part thereof, be condemned under the power of eminent domain or acquired for a public use, the damages awarded. the Proceeds for the taking of, or the consideration for suc~i.acquisition, to the extent of the full amount of the remaining unpaid indebtedness secured by this mortgage, are hereby assigned to the Mortgagee, and shall be paid forihvnth to said Mortgpgee, to be applied on account of the last maturing installments of such indebtedness. 1 to the court havi urisdic- 10. The Mortgagee may, at any time pending a suit upon this morttggage aPP y, ~ j lion thereof for the tippointment of a receiver, and such court shall forthent~- appoint s receiver of the premises covered hereby all and aingalar, including all and singular the income, Profile, ~asues, and revenues from .~rhat- eversource derived, each and every of which it be'mmgg expressly understood, is hereby mortgaged as if specifically set forth and described in the granting an~ habasdum clauses hereof. Such appouitment shall be made by such court as an admitted equity and a matter of absolute right to said I~iortgagee, and without reference to the adequacy or roadequacy of the value of the property mortgaged or to the solvency or insolvency of said Mo t~~gr or the defendants. Such rents, profits, income, ~esues, and revenues shell be applied by such receiver acco~r~M to tLe lien of this mortgage and the practice of such court. In the event of any default on the part of the ortgagor hereunder, the Mortgagor agrees t6 pay to the Mo on demand as a reasonable monthly rental for the premises an amount st least equ-valent to one-twelfth (,) of the a~r~ste of the twelve monthly installments payable in the then current year plus the actual amount of the annual taxes, asaesaonents, water rates, and insurance premiums for such year not covered by the aforesaid monthly payments. 11. In the event of any breach of this mortgage or default on the pert of the Mortgagor, 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 an~ this mortgage, are not duly, promptly, and fully performed or i{ the Mortgagor be adjudicated bankrupt or made defendant in a LanlQUptcy or receivership proceedings; then is either or any such event, the said eggre- gats sum mentioned in said note then remauung unpaid, with interest accrued to that time, and all money secured hereby shall become dus and payable forthwith, or thereafter, at the option of said Mor ages, ea fully and completely as if all the said sums of money'wer~e originally stipulated to be Paid on such day, any-, thing m said note or m this mortgage to the contrarir notwithstanding; and there_ upon or thereafter, at the option of said _Mort~agee, without notice or demand, scut at law'or ia-equity, nisy. be prosecuted ea if all moneys secured hereby 1-ad matured prior to its institution. The Mor may foreclose this mortgage, as to the amount so declared due and payable, and the said premises shallld b satisfy and~eapmthi same P gmth~ with posts expenses, and allowances. In case of partial foreclosure of this mortgage, ~ag~ shall be sod subject to the continuing lien of thiasmmaortgage fbore th ~~ oftthereafter from time to t me~by the In such case the provisions of this paragrap y again . Mo lrtgagee. ws1ver of any covenant herein or of the obligation assured hereby ahau st any time thereafter be held to be a waiver of the terms hereof or of the note secured hereby. 13. The lien of tJ~ia instrument shaIl remain in full force and effect during any-postponement or extension of the time of payment of the indebtedness or any part thereof secured hereby. 14: 'Ibis mo i~glven to secure the purchase money, or a pert thereof, of the lands herein described and- is-executed and deliverotl contemperaZ-eously wit)i tlte'dt~ thardtor: • - - 1b. -Ii the Mortgagor default in aa~:o-f the covenants or"igi~eemeats"contained herein; or iii"said note,-then the Mortgia~ee ~sYPerfbrm tibe same, and aIl expenditures ('ncncludirig reasonable attorney's fees) made by the Mo m so dau-g ~~ ~`"' interest at the rate provided for in the principal indebtedness, and shall be - repsyab a thirty (30) days after demand, and, together with. interest and costa accrued thereon, shall be secured by this mortgage. 18. Upon the request of the Mortgagee the Mortgagor shall execute and deliver a supplemental note or notes for the sum or sums advanced by We Mortgagee for the alteration, modernization, improvement, main- tenance, or repair of said premises, for fazes or aseeaaments against the same ~da~iroa a~ayfullyeas if trhe advance reed hereunder. Saud note or notes shpD be secured hereby on a parity lementsl note or notes shall bear evidenced thereby ware included in the note first described above. Said roFP ..~,-c ~...