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Home My WebLink About1430 n R. ' Bf!'. ~ 59 UEoE 27 .....~ ~,....',..---......~.-..---.-----.....'--"....., .' ~' .. ~ MoripCor ahall pay to the Mot'\ppe 1oI'1,amoUh~ ~ w make up ,he deficil.'ncy. Such pay menl shall be made wit.hin thirty (30) ~,. if_ wrii&.tG notice frQm t.he Mo~ .t.ating the amount of the dl.'ficil'ncy, .web not.iee may be ~Yeo by mail. If a' any Woe th'Mortpcor _all tender to the Mortgagee in QCCord- anoe wi&h the ptO'9i1eoM of t.h. no~ P'liCured benby, lull payment. 01 the.entire indebtednru reprel('ntNl ~by, the MoriClPe eba1l, in ClOlDpUtiDc the .mount 01 .Uch indebt.ednMl, credit. t.o the account of the Mort<<t&or any enaii" balance remaini. uDder t.he provi.iona 01 (a) 01 said paragraph 2. II there shall be a default UPder any of t.he {>>J!Ovisiona 01 thie ~ reault.inc in a public u.le 01 the premi8e8 covered hl.'rl.'by, or if t.he Moncecee M'qWl'Ele \be propeny ~ alw delault., the Mortg~ shall apply, at the time of t.he commen~nt. of .uch proceedinp or at t.he \1IDe the property i. oth~rw.. BCqUired, Ihe amount thon rer......;U1Dg to credit. of MortcaIW under (a) 01 p&racnph 2 prect'ding u a credit. on the jntereat accrued and unpaid ~ the belaDce to. tJMprincipal t.hen remainiDc unpaid on said IlOt.e: .. He wm ,. .u tueI, ..!-..... ..... ..... ud other 1OftrDJDflQt&l or municipal chargee fl.aee, or illapoeltloM, lor .blob ~ baa DOl been made ~, ad in default thereof the Moripgee ~y pay tOO lime; a.Nl t.ha, he will promptly cWiftl't.he omaw reoelpU therefor to the Mortppe. 6. He will ~ oomm1t, or llUfrer DO ...., ImpainDeDt, 01' deterioration of sald property or any part thereof aeept NMOD~ WIll' md ~i aDd ba the e,... Of the failure fJ. the Mortca<<or w keep the buildings on ea1d premi8eI aDd thoee to be erecwl OD aiel ~ or Impovementa thereoa, in good repair the Mortpgee may make 8UClh repaln u balta diIIeretIoa It may deem De: I 7 lor the proper ~at.ion thereof, and the lull amount fJ. Neb aDd nery IUOh payment Iball be due aDd pqabIe thirty (30) days alter demand, and IIba.ll be lle(:ured by the lien 01 t.hIa morlpp. So He will pay aD aad IiDpIaf t.be 00Ita, oIt.arts. aDd expeDIeIl, Includins reaaonable lawyer's feee, and ooeta ol,ab.traclta 01 title, lncunui 01' paid M ury time by tie Mortppe becau8e 01 the failure on the part 01 the Mortgagor promptly and fullv to perform the acreementG and covenanta of I6id prom.ia!lory'note and this mort&age, and aa1d ~.., ~, and expeDMl811ha11 be m..-H&t'81y due aDd payable and IIba.ll be lleCuted by the lien of this mortgage. 7. H., will ClODUnuoUlly maiDtain buard imuraoce,'Of IUch type or typee and amounta &8 Mortgagee may from time to time require, on ... ~ ~ or beredter OIl Mid p~~ and exctlpt when payment tor all.ucl1 p~UJDe hat theretofore beea IDacW under .(,) .of paragra,Ph 2 hereol~ be will pay Pro..~tly when d.ue any premlUI:DII therefor. All m.~DCe ibaIl be carma In compamea approYeQ by Mort.pgee the poll- .CUlII and renew.. thereof .ball be bel~ D1 ~ee and have att&ched thereto 1018 payable- cfausee in favor 01 " and in form acceptable to the Mortppe. In eYeDt of _ he will give immediate notice by mail to Mortgagee and M~ IDaY make ~f 01_ if DOt. made promptly by Mortgagor, and ear.h insurance company ClODoerned II heieby_ authoriMd and directed to make payment lor 8uch \018 directly to Mo~ee instead of to Mortpgor and Mo~ jointly, and the m.u.raooe proceeda, or &D..f part thereol. may be applied by Mort- gagee at ita option either to the reduction 01 the indebtedn8ll8 hereby eecured or to the restoration or repair 01 the property d~. In ....eat o"orecloeure 01 t.hia mortgage or other tralllller 01 title to the mortgaged property in extinguiahment 01 the indebtecIne. eecured hereby, ;u, right, title, and interest of the Mortgagor in and to any insurance pollclee then in lorce .ball paM to the purcha8er or grantee. 8. He will not ~J[ecut~ or file 01 record any instrument which imposes a restriction upon tbe sale or occu- pancy of the prop'lrty described herein on tbe basis 01 race, colur, or creed. Q, If the premises, or any part thuoof, be condemned under the power 01 eminent domain, or acquirl.'d for a public use, the damages awarded, the proceeds lor the taking 01, or tho consideration for such acquisi- tion, to the extent of the full amount 01 the remaining unpaid indebtedness secured by this mortgage, IUP hereby ll.88ignoo to the Mortgagee, and his heirs or assigns. and shall be paid forthwith to said Mortgage!' or his assignee to be applied on account of the last maturing installments olsuch indebtncc;a; providl'd, how- eVl.'r, the Mortgagee or his a88ignel.', may at his discretion pay dirC<'t to the Mortgagor, his heirs or assign!' any part or all 018uch award; provided, that if the loan is guaranteed or insured, the cons!'nt of tho guaran- tor or insurer is obtained in advance of aaid payment, 10. The Mortg&.gee may, at any time pending a .uit upon this mortglWl' apply to the court havin!! jllri~dic- lion thereollor the appointment of a recetver, and such court ahalllorthWlth al!point a receiver of the prl'mis!'s covered hereby all r.nd singular, includ~ all and 8ingular the income, profits, ISSUes, and revenul.'S from whal- ever source derived, each and every of whichl it being expressly under8tood, is hereby mortgaged as if specifically llet lorth and deac.ribed in the gr&llting ana habendum claulle8 bereol. Such appointment shall bl.' made by such court &8 an admitted equit.y and a matter of abeolute right to said Mortgagee, and without reference to the adequacy or inadequacy 01 the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or the defendants, Such rents, profits, income, issues, and revenues shall be appli('(IIJ.~ such rl'reiver according to the lien of this mortgage and the practice 01 such court. In th~ event of I!.ny dl'fault on Ihe part of the Mortgagor hereunder, the Mortgagor ~ees to pay to the ~fortgagee on demand as 1\ reasonsble monthl\' rental for the premises an amount at lel\8t eqUIvalent to one-twelfth (}{t) of the aggregate of the tWl.'I\'l' monthl~' in8tallments payable in the then cUlTl'nt year plus the actual amount of the annual ta..'tes, assessml.'nls, WstN 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 part of the Mortgagor, or in the evt'nt that any of said lImDB of money herein referred to be not promJltly and fully paid according to the tmor hl'rrof, or in tlie event that each and every the stipulations, agreements, conditions, and covenanl.s of said noll.' and this mortgage, are not duly, promptly, and lully perfonned or if the Mortgagor be adjudicated bankrupt or made defl.'ndant in" bankruptey or receivel"llhip proceedings; then in either or any such eVl.'nt, thl' said aggrl'- ga~ 8um mentioned in said note then remainmg unpaid, v.ith interest accrued to that time, and all money secured hereby! .hall become due and payable forthwith, or thereafter, at the option of said Morlgagl'l', ss fully and comp etely as if all the &aid sums 01 money 'were ori~nally stipulated to be paid on such day, sny- thing in said note or in thismor1i{age to the contrary notwithst&i1ding; and thereupon or thHeaft('r, f.lt}\(' oplion 01 said Mortgagee, without notIce or demand, SUIt at law or in equity, msy be prosecuted as if all monl'\'S secured hereby had matured prior to its institution. The Mortgage-e may {oreclose this morlgagl', as to Ihe &rnf'uot SO dedared due and payable, and the 8aid premises shalll>e sold to satisfy and pay the same togl.'lhl'r with costsl expenses, and allowances, In case 01 partial foreclosure of this morlgage, the mortgagl'd premises shall be BOld subject to the continuing lien of this mortg~e lor the amount of the c\l'bt not then dul' and unpaid, In such case the provisioDl! 01 ~ paragraph may agam be availed 01 thl.'resfter from time 10 tinll' by the Mortgagee. 12, No w6i.ver of any covenant herein or of the obligativn secured hereby shall at any timp tlll'Tl'after be held to be a waIVEr of the t~rms herool or orfhe not~ secured hereby. . 13. The lien of this instrument shall remain in fulllorce and efft'ct during any p03tponeml'nl or eXlpnsion of the time 01 payment 01 the ind"btednese or any part thereof secured hereby. 14. This mortgage is given to secure the purchase Dloney, or a part thereof, of the lands. herein described and is executed ana delivered conwmporaneo'lAly witlt.-the deed therefor. 15, If thfl Mortgagor default in any of the covenants or agreements contained herein, or in said note, th!'n the Mortg~ may perform the same, and all expenditures (including reasonable attoml'Y's fl.'l.'s) mlldl' by Ihl.' Mortgagee m 80 dOi.lg 8hall draw interest at the rate providl'd for in the principal indel.tronl'ss, and shall bl.' rep.lyable thirty (30) days after demand, and, together with interest and ('.osls accrued thereon, 8hllll bl' 8l'rurcd by thi8 mortgage. 16. Upon the request of the Mortgagee the Mortgagor shall execute and deliver a suppll'mE'nlal nole or notes lor the sum or sums advanced by the Mortgagee lor the alteration, modemiz&tion, improvE'l11rnt, main- tenanoe, or repair of laid premises, lor taxes or &88e88ments against the Bame and for any other purpose author- ized hereunder. Said note or not.es shall be secured hereby on & parity with and as lully as if thl' sdnnrt' evidenced thereby were included in the note first described above. Said supplemental note or noll'S shsll besr