HomeMy WebLinkAbout0941
0, R, r:g 2')8
. ;" . : \ ' (,- r
~ J ,~ u'"; ..~~ . "-
Mortgagor, sh~lI Pf:\Y to the Mortgagt'e IU~y amoul!t nf-;e~ry to ml&k~ uy the ~iefieiency, Such payr,ncJ\~ sht\lI
be ~\\t\lle ~tthli\ tlnrty (:W) dl\Ys after 'Hltten notlco,frOln, tlltlQ\{ot(pWQt>!~t.lIN the I&mount of the ~l'fiCIl'nc)',
wlllch notIce may be given by mail. If at. any lim\l tht"'M-ortg&KOr ~'~liJU to the Mort.gngN~ In llccorll-
nnee with the provieions of the note 8l'Cured bereby, full payment of the entirt" indpbtedn('ss rt'pre~ll'nt('d
tlwreby, the Mortgag('e shall. in computing the amount of 8uch ind('btt'dne!l.'l, credit to the account of till'
M0rt07agor allY credit balance remnining undl'r the proviRions of (a) of 8nid paragrnph 2, If th('re shnH bl' 1\
dl'fauYt under any of the provi8ions of this mortg~e rt'8ulting in a public 8all' of thl' prpmiSt's coverpd h,l'r"by I
or if till' Mortga.g('{1 &<'quirl'll the property otherwIse after d(.fl\ult, the Mortgagee sh&1I npply I at the tunc of
t hi' C~lllll1\l'nC('mt'l~t of such proce('(lin":!J or at. the time thl' propl'r~y i8 otlwrwi,St' !lcquLr~d. t hl' amount t~len
r.'nU\llllllg to crN"'t of Mortgagor undN (110) of paragraph 2 pr('(.Nilllg as !l credIt on th(, mlt'ft'st accrul'd and
unpnid and the balance to th(' principal then remaining unpllid on 81\i~ note. ,
_ 4, He will pay all taxes, ~enttl, wa"'r n.tea, and other KOvernmenlAl or municipal chlU"gCJ8, finee, or
impositions, for which provi8ion h&ll not been made hereinbefore, and in default thereof the Mortgage(; may pay the
lWUe; and thl\t he will promptly deliver the official receipta therefor to the Mo~tgagee. '
5, Be will pennit. commit, or suffer no W&IIler impairment, or deterioration of paid property or any part thereof,
except reasonable WCAl' and tear; and in the event. of the failure of the Mortgagor to keep the buildings on Mid
prcmi8C8 and thoae to be erected on Mid premiaes, or improvements thf!reon, in good repair, the Mortgdgee may
make such repains &II in ita discretion it may deem necelll!Sl)' for the proper preaervation thereof, and the full amount
of ebeh and every 8uch payment. ahall be due and payable thirty (30) daya aft~r demand, and &hall be secured by .
the lien of this mortgage, '
6. He will pay all and 8ingulAr the C08ts, chargee, and expeD:lC8, including reasonable lawyer'a fee8, and costs
of a~t ,acta of title, incurred or paid at any time by tbe Mortgagee bec&\J.88 of the failure on the part of the Mortgagor
promptly and fully to perform the sgreements and covenanta of &aid pI'\. mi8s0ry note and this mortgage. and SAid
oosta. chargea, and e).pen.ees &hall be iinmediately due and payable'e.nd ehal1 be secured by the lien of thi8 mortgage.
7, He will continuously maintain huard insurance, of Buch t.ype or types and amounta as Mort~agee may
from time to time require, on the improvements now or bereafter on said premises~ and except when pAyment.
for all such premiums has theretofore been made under (a) of paragraph 2 hereof, ne will pay promptly when
due I\ny premiums therefor, All insurance shaH be carried in companies approved by Mortgagee and the poli-
cies aUll renewahl thereof 8hall be held by Mor~agee and have attached thereto loss payable clauses in favor of
and in form acceptable to the ~lorlf!;&6ee. In event of loss he will give immediate notice by mail to Mortgagee,
and Mortgagee may make proof of l~ if not made promptly by Mortgagor, and each insurance company
ooncerned is ~~reby a\lthoriZed and directed to make payment for such 1088 directly to Mortgagee instead of
t<l Mortgagor and Mortgagee jointly, and t.he insurance pI-oceeds, or any part thereof, may be applied by Mort-
gagee at ita option either to the re<!uction of the iud6bt.<;dn~ hereby ~111"fllli or to the rt'Swration or repair of
the propf"rty damBl1ed. III event of foreclosure of this mOl'tgage or other transfer of title to the mortgaged
property in extingUIshment of the indebtedne88 &eCured hereby, all right, title, and intert18t of the Mortgagor
m and to any insurance policiee then in force shall p&88 to the purchaser 01 grantee.
8 H., will not px('{'ute or fill" of record any instrument which imposes a n"striction upon the sale or occu-
pancy of the propl'rty t!('scribNi hert'in on tho bMi8 of race, color, or creed.
!I, If lilt' pn'JJ11';..S, or i:ll.... pnrt thl'rl'of, ill' COlldt'lIH1l'd Ulldl'r the power of emilll'nt donmin, or I\cquirr(\
f(lr II 1)llhtil' II";". till' dnJJl::;.:t',; nWllnll"1. 1111' procl'cds for tilt' tnkillg of, or tht' considerntion for'such lU'quisi-
11011. III t I.... l':d.'1I1 of ti\l' fnlllllllOllllt of ~ III' rrmuinill~, unpl\id iil(h'btNlnl'S..'l, securrd ~y this '.J1ortgnge, un'
lll'r,'hy 1l""I~lIl'd to I h,' ~lort~ugl'I', I\lId IllS hl'lrs or asstglls. tUHl shall be pllld forth With t.o 8uul M ortgtlgt'l'
..r Ill"; ll"siglll'" to hI' IIPplit.d Oil !lCCOUllt of th., Inst maturing illstallml'nU\ of 8ueh indebtnt"~; prO'.-idl'tl, how-
n','r. tilt' ~lortt-:llg,.1' or hi" I\s,,;4.:':"I', mllY nt his (listTl'tioll pll)' direct to tlw ~Iortgagor, his lwir3 or assigns
llllY pnrl or nil of sueh award; provillNi, that if tht. loan is guaranlt't'd or insured, thl' cOllsrnt of tht, guaran-
tor or iw,drer is obtailll'd ill UdVllolll'P of stUd paYUll'nt.
10, TIlt' ~lurtgagl'l' ma...., at any time pendinK a 8uit upon this mortgage, appl.... t.o the court l\lwing jmistlie-
tion tlH'n'uf fur the apFointll\ent of a rr('etvcr, and Buch c.ourt shall forthwith appoint a rect'iHr of ti,l' premises
covl'rl'd hen.by all ant singular, inch\tlin~ all and 8ingular the income, profita, issues, and revenues from whltt-
enr BoUrt'e derived, I'ach 8m! en'ry of whIch, it beinK exprt"SBly understood I is her')by mortgaged as if specificall....
Sl't forth and descrihed in the granting and habendum ('lau8('s hereof, Such appointment shall be m8de b....
such ('ourt Il8 an admitll'lll.quity and a lI\att('r of absolute right t.o said :\tortgagi.'r, llnd without referl'ncr to
th~ e.denolu'y or inad('Quat.y of the valul' of the property mortgaged or t.o the 801vencv or insolvl'ncv of said
~tortgK~o" o'r the dcfl'ndants, Sueh n'nts, profiUl, ineollltl, i,osurs, and revenues shall be applil'd b.... such r('{'l'iver
aCl'ortling to the lil'n of this mor;gage and the practice of such c.ourt. In the event of any default on the part
of thr :\tortgagor hen.under, th.. :\tortgllgor agrees t.o pay t.o the ~tortgag('e on demand as a rl'8.80nable monthly
rcntal for the prl'mis('~ an IImount at It'IL',t rquivalrnt t.o one-twe!ftlt Ojt) of the a~regatt' of the tweln monthl~'
installllH'nts Pll."dhll' in thl' then ('urrl'nt y('ar plus the a('tualamount of the annual taxrs, assessments, water
ratt'S, and insurance premium8 for such year niJt covered by the aforesaid monthly payments,
II, In the eVl'nt of r.ny breach of this mortgage or default on the part of the ~tortgagor, or in the event
that any of said sums of monl'Y lwrl'in rl'fHrl'd to be not promptly and fully paid ac('ording t.o the tl'nor hereof,
or in tlie (.vrnt that \'8('h and eVNY the stipulations, agreements, conditions, and covenants of said note Rnd
this mortgagl', a~e nut tlulYl promptly I ~nd !~lly perforI.Ded or if t~e ~tortgagor be adjudicatNI bankrupt or
mad\' tlcfrndant In a hankruptcy or recelversmp proceedings; then ill etther or any such event. the said agg-re-
gate sum mentioned in sl\id nott' thl'n rl'mainmg unpaid I with interest accrued to that time, and 811 monl'Y
secured hrr<'by, shall h('('olJ\e due and payable forthwith I or thereafter, I\t the option of said Mortgagee, as
fully Bnd completdy as if all the said 8ums of r:loraey'were originl\lIy 8tipulated to be paid on 8~ICh day, any-
thing in sllid note or in this mortgage to the c.ontrary notwith8tanding; and thereupon or th('reaft('r, lit thl' option
of SKid ~lort~ag('l', without no;ice or demand, 8uit at law or in equity I mav be proseeuted RS if all moneys
8l'curl'(1 herl'hy hlld mlltur('d prior t(J its institution, The Mortgagt'e may (oredose this mortgagt', as to the
amount 80 dl'dared dul' I\ml payable, Rnd the said premises 8haH be sold t.o sati8fy and pay the same together
with I'OS'-S, l'Xpl'nSl'S, and allowal1cl'S, In cl\.o,e of partial forecloBure of this mortgagl', the mortgllgl.d premisl's
8hall bp sold suhjl'elto the continuing lien of this mortga($e for the amount of the o('bt. not then tiUl' Rnd IInpRid,
In illll'h esse the pro':i8ions of this parl\graph may agam be availed of thereafter from time to timl' by thl'
Mort~l\gee,
i 2, No waiver of any covenant h("fein or of the obligation secured hereby sh"ll at Rny time therl'lIfter be
held to br R waiver of ,he tl'rms hen'of or of the not(' secured hereby,
I:~, The li"n of this instrument shllll remain in full force and effect during Rny postpone11\l'nt or rXlension
of the time of paynwnt of the indebtedness or any part thereof S('curoo hereby.
14 This mortgage is given to !'-ecure the purchase money, or a part thereof, of the Illnlls hrrrin tlt'sc:ibed
iUld if: executl'd and delivered contemporaneou81y with the deed therefor.
15, If the Mortgagor default in any of the c.ovenant8 or agrl'ements contained her('in, or in sllid note, then
the Mortga~l'e may, perform tlw same I and all expenditures (including re8.80nl\ble l\tt.omrY'8 fet's) made by the
Mortgllgee m 80 domK shall draw interest at the rate provided for in the prineipal indeutt'<in('S!!, Rnd ahllll he
repayahle thirty (30) days after demand, and, t.ogether with interest and costs accrued, thereon, slull be secured
by this mortgage, '
10, Upon the reqllest of the Mortgagee the Mortge.gor shaH execute and deliver a Bupplemrrat61 note or
notes for the 8UI!l or 8t~mS adv!"nced by the Mortg~ee for the .81teration, modernization, improVl'ment, ffiain-
tt"nance, or repah' of Bald preJl1I8('8, for taxes or Il.E>8cssments aga\l18t the 8ame and for any other purpose 8uthor-
ized her('under. Said note or noti'S shall be secured hereby on a parity with and P.8 fuHy 88 if thr adv/lnce
evidencM thereby were included in the note first described above. Said 8upplemental note or notes sh8ll beBr