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HomeMy WebLinkAbout0816n' ~.~ ~U F~cE1~:3 ~ il'~ K Aiortgagur shall pay to the MortgAg~~A any arnputtt{~Ore~~ty tq p>,*e1,1cN up tl-o dtfiritnc}•. ~ttch pyy nu+~lt shall be made within thirty (30) days after writeer- rtdti~e frotlt't1nA~f~rf~A ~ stutirtg the amount of the deficienc~~, wl;ich notice may bo ~tven by mail If at anY tune the Mortgagor s~ia1.1 tender to the ~1ortKaf;ee in rccord- Ance with the provisions of the note s~~curec{ hereby, fuU payment of the entirn indtbtednesi rtpreseuted thereby, the Mortgagee shall, in wmputing the amount of such indebttdnesg, credit to Cho account of the Mortggagor any credit balance remainirng under the provisions of (a) of said p~rnggr+tpl- 2. r_f them stutll be A detente under any of the provisions of this mortgage resulting in a public salt of the premises covered htrnb}•, ur if the \iortgagee acgmrts Cho property otherwise after default, the hlort{;Itgee shall apply, ut the time of the commencement of such ptvctt;intgs or at the time the property is otherwise ace uirrd, the amount thru reriaining to credit of Mortgagor under (a) of paragraph 2 preceding As a credit on t~u• interest Accrued and unpaid and the balance to t tt principal then remaining unp:ud on su-d note. 9 IIe vTill pay all taxes, assessments, water rates, and other governmental or manic{pAl charges, fines, or impositions, for which proviAion has not been made hereinbefore, And in default thereof the 1\fortgagee may pry the same; and that he will promptly deliver the official receipts therefor to the 1\iortgagee. b. He will permit, commit, or auPfer no waste, impairment, or deterioration of said property or any part thereof, except reasonable wear and tear; and in the event of the failure of the Mortgagor to keep the buildings on said premises and those to be erected on said premises, or improvements thereon, in good repair, the \iortgagee may ofaeach and a ery su h ipayment ishall be due and pays thirtye(30) day a after de ~a d and a hall twf secur ld by the lien of this mortgage. 8. He will pay all and singular the costa, charges, and expenses, including reasonable lawyer's fees, and costa of abstracts of title, inatrned or paid at any time by the 1liortgagce because of the failure on the part of the Mortgagor promptly and fully to perform the agroementa and covenants of sail promissory note and this mortgage, snot said costs, charges, and expenses shall be immediately -i~+Q and payable and shall be secured by the lien of this mortgage. 7. IIe will oontinuous)vy maintain hazard insurance, of such type or types and amounT^9 as Mortgagee may from time to time require, on the improvements now or hereafter on said premises and except ~~•hen payment for all such premiums has theretofore been made under (a of paragraph 2 hereof, ~e will pay pmmpelf • when due any premrunts therefor. All insurance shall be carried in companies approved by :lortgaaggee and tine poli- cies and renewals thereof shall be held by tilortgages and have attached thereto loss payable clAUSCS in favor of and in form aeceptabls to the Mortgagee. In event of lose he will give immediate nohce by mail to Mortgagee, and Mortgagee may make proof of lose if not made promptly by :liortgagor, and each insurance company concerned is hcueby authorized and detected to make payment for such loss directly to ~fortgAgee insteAd of to `Sortgegor and Mortgagee jointly, and the insurance proceeds, or any part thereo , may be applied by ~fort- gagee at its option either to the reduction of the inclabtedneas hereby secured or to flee restoration or repair of the property dammed. In event of foreclosure of this mortgage or other transfer of title to the mortgaged Mroperty in extinguishment of the indebtedness secured hereby, aft right, title., and interest of the Mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee. 8. I1t will not execute or file e,f record Any instrument which imposts a restriction upon the sale or occu- pancy of the property described herein on the basis of race, color, or creed. 9. It the premises, or any part thereof, be condemned under the Power of eminent dwnain, or ace{nixed for a public use, the damages awarded, the pror.ecds for the taking of, or tent consideration for such acyuisiti~n~, to the extent of the full amount of the mmaining unpaid indtbttdncss secured b}• this murtgal;e, art hercb}• assigned to the ~icrteagce, and shall he paid forthwith to said ~tortgttgee, to bt. applied ou nccount of the last maturing iustallmtnts of such indebtedness. iv. The \fortgagce may, At Anv tinne Mending a suit upon this more ~age, Appl}• to the Court hai•in{; juridi~•- tion thereof for the appointment u~ A ircelver, and such court shall forthtvlth Apprnnt A mcei~-rr of the preulis~•s covered hereby Alt And singular, including All and singular the income, profits, Issues, And revtr.uc; front ~rlia!- eversource derived, each And ever}• of a•hlch, it bring expressly understood, is hereby mort{;Agect as if specificnll}• set forth and describri in the granting and habendum clauses hereof. Such Appointment ahAll ht made h.' such court as art admitted equity and A matter of Absolute right to said \furtgA{{et, and ~+•ithuul reference to the adequacy or inadeqquacy of the vAlue o[ the property mortgaged or to the solvency or insolvenrv of stud ~SortgAgor or the defendAnts. Such rents, profits, income, issues, And rcti-enurs shall be Applied by such receiver according to the lien of this rnortgAge And the practice of such court. In the event of Any default on the part of the ~lortf;Agor hereunder, the ~1urtKA{~r agrees to pa.; to the ~fortgAgee on demand as A reasonable numthly rent Al for the premises en Alnount At ltASt equ-vAlent to one-twelfth (!;~) of the AK{;r+•{;Att ,tf the trr•tl~•+• monthl~- installmentA pa}•rible in tLt thin currant. year plus the actual Anunutt. of the Annual fasts, Assessnu•nts, trAttr *stes, and insurance premiums for such year not covered by the Aforesaid monthly pA}•-nents. 1 L In the event of Any breach o[ this mortgage or default on the part of the \fort{;agor, or in the event that any of said same of inonc}• herein referred to be not prompay and fully paid according to the tenor hereof, or in the event that each and every the atiplnlations, Agreements, conditions, and covenants ~t said note and this ntortgAge, Art not dal}•, promptly', and full}' performed or if the Mortgagor bt a+ijudicated bankrupt or made defendant in a bankruptcy or rectrvershih proceedings; tl+en in tither or any :,uch event, the said at;i;r~•- Katt sum mentioned in said note th:n remaining unpaid, w-th interest accrued to that lime, and All peons}' secured hereby, shall become due and payable forthwith, or thereafter, At the option of said Mort ~a{;ee, as fully and completely as i[ all the said aunts of money were originally stipulAled to be paid on such c~ay, eny- thutR in said aoto ot• m this mortgage to the contrary notwithstanding;end thereupon or thereafter, at the option of said \lortgAgee, without nohce or demand, sort at law or in egwty; may bt prosec•uted as i[ All ntonevs secured hereby hgd matured prior to its institution. The \tort~Agca may foreclose this mortKa{;,•, As to the amount so declared dire And payable, and the said premises shall ~e sold to satisfy And pay the same tukether with costs expenses, and Allowances. In case of partial foreclosure of t'lis mor•tgAgt, the mort{;,1{;rd prrnu~ts shall be sold subject to the continuing lien of this mortgage for the amount of the de It not then dot and unpaid. In such case the provisions of this paragraph may again be availed of thereafter frvm time to Bute by the liortgagte. 12. No waiver of any covenant herein or of the obligation secured hereby shall At Any time thtmafter be held to b~ 8 R'AIYer of the terms hereof or of the note Secured hereby. 13. The lien of this ins:rulnent shall remain in full force And efPtct during Any postponement or extensirnn of the time of pAyntcnt of the indehtedr,tss or any part. thereof secured hereby. l4. This ntortga t is gi••en to secure the purchase money, or a part thereof, of Cite liuuls herein described and is executed And delivered conternporAi~euusly :With the deed therefor. 15. If the Mortgagor default i.t Any of the covenants or Agreements contained herein, or in said note, thin the `Sortgagee may ptrfo.m the sanu•, And A11 exptnditurts (inchuling rras~;nablt attorney's fees) malt by the ~iortgaggte In so dorng shall d:A«• ir.ttrest At the rate provided +or in the princ•ipAl inctebttdness, And shalt be repayable thirty (30) days After demand, And, together with interest and costs accrued thereon, shall be:.ecurcd by t~iis mortgage. 16. U~on the request of the ;4fortgAgee the ~tortgAgor shall execute And deliver a supplemental note or notes for tae sum or sums advanced by the ~fortgaKte for the Alteration, ItlodfCr112at10P_, imprav~•nu•nt, man:- tenance, or repair of said premises, for taxis o~ assessments against the same and for any other purpose Author- ~ h de Said note or notes ahAll be secured hereby on a parity ~sith And ag fully as If the advance ovide ~ucere included in the note first described above. Said supplemental note ur note3 shall beAr .~~ ~. ~r .. .~~ ,~