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HomeMy WebLinkAbout11360. R.~ ~-rrll ~~ 90K ~U PAE~ ri Mortgagor shall pay tc, tt,e \lortgr~{~~..*f a ,~~ ,~ i~tcrsary to tusks up the il~•fici~•ncy. tiuch payment shall be u-ade within thirty (30) days after •a•~ t~ [~ot~~,11C ~lorti;u ~e~ stating ti,c~ amuuitt of el„• deficii•nc~•, wluch nOhce Illay be gtven Ly moil. If at an limo the Mortgagor s~inll tender to ti-r Diortgn~;e:~ in nccord- uncci with the ppmvisions of the note sc~cure~i hereby, full pal'ni~'itt of th~• entir~• ind~•bl,•~In~•ss n•pt•r~,•nt~•el thereby, the Dlortgagce shall, iu computing the amount of such indebtedness, credit to the account o! the ~fnrtgagor snv credit balance remaining under the provisions of (u) of s,iid pnruF~~ruph 2. If thi•rc~ sht-Il b~• u defau t u~~der euty of the provisions of this mortgage resulting in a public sole of tl-e ptr:niacs cnvcmd hemby, ur if the ~iortgageo acquires the property otlu•rwtsc after default, the Dtortkul;ee shall apply, at•tl-e t~mfr of the COlitillenet'ment of such proceedings or at the time the property is otherwise ac aired, the amount then remaining to credit of Mort agor under (a) of paragraph 2 pmcedin~ ,-,, ,i credit on tiu• interest accrued and unpaid and the balance to t~c principal then remaining unp,-id on said note. 4. He will pay all ta,iea, asaesamente, water rates, and other governmental or municipal charges, fines, or impositions, for which provision has not been made hereinbefore, anti in default thereof the Mortgagee may pay the same; and that he will promptly deliver the official receipts therefor to the Mortgagee. b. He will permit, commit, or suffer no waste, Impairment, or deterioration of said property or any part thereof, except reasannblo we4r and tear; and in the ovent• 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 goal repair, the Dortgagee may make such repairs as in its discretion it may deem necessary [or the proper preservation thereof, and the full amount of each and every such payment shall be due and payable thirty (30) days after dencand, and shall be secured by the lien of this mortgage. 6. He will pay all and singular the costa, charges, and expenses, including reasonable lawyer's fees, and costa of altistracts of title, incurred or paid at any time by the Dortgagee because of the failure on the part of the Mortgagor promptly and fully to perform !ho agreements and covenants of said promissory note and this mortgage, and said costs, charge, and eapensea shall be immediately due and payable and shall be secured by the lien of this mortgage. 7. l1e Rill oontinuoualy maintain hazhrd insurance, of such type or types and amounts as Mortgagee may from time to time require, on the improvements now or hereafter on said premises and except when payment for all such premiums has theretofore been made under (a of paragraph 2 hereof she will pay prompth• when duo any premiums therefor. ~ll insurance shall be carried in companies approve by Dortgagee and t6n poli- cicvs and renewals thereof shall be held by Mortgagee and bare attached thereto loss payable clauses in favor of and in form acceptable to the Dortgagee. In event of loss he will give immediate notice by mail to Mortgagee, and Dortgagee may make proof o~f loss if not made promptly by hfortgagor, and each insurance company concerned is herebyy authorized and directed to make payment for such loss directly to Dortgagee instead of to Diortgrgor and biortgagea jointly, and the insurance proceeds, or any part thereo{, map be applied by Diort- gagee at its option either to t. a reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage or other transfer of title to the mortgaged Property m oxtingmshment of the indebtedness secured hereby, a~l light, title, and interes-, of the Mortgagor in and to any insurance policies then in force shall pass to the purchaser 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 on the basis of race, color, or creed. 0. If the premises, or any part thereof, be condemned under the power of eminent domain, or acquired for a public use, the damages ai+•arded, tl-e proceeds for the taking of, or the consideration for such acquisition, to the extent of the full amount of thr nmauung unpaid iudebtedness secured by this mortgage, err hereby assigned to tLe Mortgagee, and shall be paid forthwith to said Mortgagee, to be applied on account of the last maturing installments of such inclebtedneas. 10. The Mortgagee may, at env time fending a suit upon this mortlage, apply to the court ha~•inK jurisdic- tion thereof for the. appointment o~ a receiver, and such court s:. all fort iw-tth appoint a receiver of the premises covered hereby all and singular, inc•luciin~ all and singular the income, profits, issues, and revenues from ~shat- eversource derived, each and every of which, it being expressly understood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereof. Such appointment shall be made by such court as an admitted equit}• and a matter of absolute right to said Mortgagee, and without reference to the adequacy or inadequacy of th~~ •~alue of the property mortgaged or to the solvency or insolvency of said \lartgagor or the defendants. Such rents, profits, income, issues, and revenues shall be applied by such receiver according to the lien of this mortgage xnd the practice of such court. In the event of any default on the part of the `.fortgagor hereunder, the Mortgagor agrees to pay to the Mortgagee on demand as a reasonable monthly rental for the premises an amount. at least equivalent to one-twelfth (!(:) of the aggrogate of the twelve monthly installments payable in the then current. year plus the actual amount of the annual tales, assessments, ~ti'ater rates, and insurance premiums for such year not covered by the aforesaid monthly payments. 1 i. In the event of any breach of this mortgage or default on the part of the `fortgagor, 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 and this mortgage, are not duly, promptly, and fully performed or if the Mortgagor be adjudicated bankrupt or made defendant in a bankruptcy or recetvershi~ proceedings; then in either or any such event, the said aggre- gate sum mentioned in said note then remaining unpaid, with interest accrued to that time, and all mone..• secured lie.reby, shall become due and payable forthwith, or thereafter, at the option of said Mortgages, as frilly and completch. as if all the said sums of money were originally stipulated to be paid on such day, any- thing in said note or m this mortgage to -he contrar~• notwithstanding; and thereupon or thereafter, at the option of said \lartgagee, without notice or demand, surf at law or in equity, may be prosecuted as if all moneys secured hereby had matured p: for to its institution. The Diortgage~ may {oreclosA this mortgage, as to tfie amount se declared due and payable, and the said premises shall be sold to satisfy and pay the same togethet• with costs, expenses, and allowances. !:, ca.~e of partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the continuing lien of this mortgage for the amount of the debt sot then due and unpaid. In such case the provisions of this paragraph may again be availed of thereafter fror.>. time to time b}• the Dortgagee. t2. h'o waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the note secured hereby. 13. The lien of this instnmiert shall remain in full force and effect during any postponement or extension of the time of payment of the indebtedness ~r ark part thereof secured hereb}•. 14. This mortga a is given to secure the purchase money, or a part thereof, of the lands herein described and is ezecuted and delivered contemporaneously with the deed therefor. 15. If the Mortgagor default in any of the covenants or agreements contained herein, or in said note, then t`,te Diortga~ee may perform the game, and all expenditures (including reasonable attorney's fees) made by ti:e Mortgaggeee to so doing shall drab interest at the rate provided for in the principal indebtedness, and shall be reFavab~e thirty l30) days after demand, and, together with interest and costa accrued thereon, shall be secured by this mortgage. 16. Upon the request of the Dior'.gagce the Mortgagor shall execute and deliver a supplemental note or notes for the sum or sums advanced by the Mortgagee for the alteration, modentization, improvement, main- tenance, or repair of said premises, for tales or assessments against thr same and for any other purpose autlior- ized hereunder. Said note or notes shall be secured hereby on a parity with and as fully as if the advance e~-ideneed thereby were included in the note first described etbove. Said supplemental note .,r notes shall bear ,~ .•_ „ t i, ...