HomeMy WebLinkAbout1571 ' Juchp~yra en~ ahall • . ~
Mortg+~gor a6sUp~ to the Mortgages aq~ amounL neoe~ear~ t,o make up tLe deQcieita~. • ` ~ .
be mads aithin thirt~ (30) dps dter written noLios irom Lhe Mortgagee st~tu~ U~e amoua~ ot t ~I a dc6ci~aay~
wbich aoLice mq bs ~i~en b~ mail. Ii ataa,~? Lime LLe Mortgagor sha11 tender t+o the Mortgsgee jn ~ord• ~
woe with t6s~ pro~iaona ot tihe aote secured ha~aby, inll p~ymeat oi the eaLirs indobt~edaess nprc~cntcd
thereb~, the Mo~~gee sh~ll, in ooanput'inig the sanoun~ oi suoh iadebtedaess, credi~ to the aoooun~ ot the ,
M~~ ~r aredi~ balance under t,he provisiona oi (a) oi eiud p ph Z. If there ehall bs s ~
defaul~ under aq~ ot the Qro~io~ mortgs~e result~ng in ~ publie sale of e premisea oovered hereby
or ii the Morigagee acquuires the proper~y otherwise ~tt~er defsul0, t~?e Mos~ga~ee shall sp Ur~ s` Lhe Lime o~
res
!~I
~ ~he commen~mea~ of such proceedings or at t,he ~~ms the proper~y ia otl~erwise ~ t6e smoun6 then ~
nm.aini.ag tio en~dit oi Mo~ under (a) of puageapL ~ preoedusg as a ecadiL on e intiereat accrued u?d
uapaid ~a~ the balance to t~fie priacipal t~en reanaining uapaid on said not~e. y
4. He wiII peq ~D taies, aeeeeements. wat+er ntes, and othe~ tal a mnnioiPai ehar~e0. Saes, os i
impoeitions, for wLioh proviaion has no0 beea m~de hereinbetors, and default lhereot the Mort~,sgee m~Y PeU? tLe :
~ esme; and tLsO he wtll p~ompL~p delivee the o8'icial reoeipta tberefor ~o the Mort~gee.
b. He'will petasit, aommit, oe euSer no waate, impedrmeit~ oe detarioration at sstd propexly oz psrt thereoi j
om
aoccept raaonable we~r aad t~eat• aad in the ev~t af tbe failure of t~he Mostga~or to keep ths b' dingp oa aai~
pcemi~ees and lhose to be eteote~ on said pcemisee, ae impeovementa thereon, ia good repair the Mortgsgee m~._ i
m~1CS aueh np~trs as in ite aisoretion it m~,y deem neoeee.ry ~or we pr~pee~ p~esesvstfon therao~ aaa the tuu aanount ;
of aah and ev~ery suoL p~,ymeat ebaIl bs dne and P~Y~ ~~7 ~ siter de~oand, ant~ abaIl be eeeiued by ;
, tLs lien of this mortaage~ ,
6. He wiI! pyr a11 aad atc~ular t6s oosta, and eacpea~es~ ine~dtns re~eo~sble Lwysr's fees, a~i `
ei sbetreets of title, i~nanrred er p~id st any tim~s
lry~e
~do:lg~ee beeanse of t~he failure on the p~art of tLb Morltg~ ~
promrt~? ana ~o peifa~m the a~e~ts .aa ooveaants o~f seia promie~y note ana thia afie~$pi~ - ;
~~8~, aLall be immedista~y due aad pa,ysble and sh~ll be seeured by the lieabf mortgage:
~ ~ 7. He w~l oontinuome~ maintain Lasard i~n~anoe, of sach l~pe or~jpes and amonnts a Mortgagee ma~ ~
i=
a
m t i m
e t
o ti
m
e r
e q
m
e+
e, o
n t
h
e i
m
p
r
o
v
e
m
e
n
t
s n
ow o
r L
e
r
e
a
if~er on esid -nm
'~es~ aad e~oe
pt wben p s
y m e
n
L ; ti;
tor a
Il su
c
h pi;eminms L
a s t
b
e
r
eto
fore b a e
n m a
de un
d
e
r o
f psragra~
h Z
r
h
e
r
e o
f h
e w
i
ll pary ~promp~y a
heq•
dne ~ preminms tberetor. AIl insuraaoe ahall be c a
r
r
i
e d ia oomPaiues aPProve~ by Mo~~ and~ t
be li-
cies and renewala tbereof aLall be be~d b
y Mo
r t
g
a
g
e e aad bsve sttached tberato ~oes p
a
yab~le
cTsimes ia fsvor o~~
snd in form aooeptsble to the M In event of loas he w
i
l
l give immediata notice by mail to Niortgagee, ~
and Mortg`agee. msy ma~e prooi~~~ if not made prompt~y by Mortgagorj and each insunaoe compu~r
o~noerned ~s hereb sudreris~d and direeted to maloe pqyment for such loes du~ec. to Mo~y~ instead oi .
to Mortgag~r and ~ortgag~ee joint~j, aad the insuranoe prooeeds, or an, part thee+e~ msy be apF7ied by 1liorw
~ag~ee st its option either to tbe rednctioa oi the indebtedneea hereby secured or to L~a restors4on or repair of
the property dama~ed. In eventi of toreclosu=+e of tbis mo~~, or otber traasfer of title to the mortgaged
p~opertl in ti oi the iadebtednees eecmed hereb~-
; aIl right~ tit1e, snd intenst af the Mortgagor
in and to aq7 inauraaoe po}ir.ies then ia foroe aLall ps~s to tLe pnrcL:ser or grantea.
• 8. He will not e~zecuta or Sle of reoord any instrnment which imposes s restriction upoa the sale or oocu-
paacy of the property des~xibed Lereia on the baeis of rsoe, oolar. or ar~eed.
9. If the pzemises, or any part the~eof, be oondemned under t~he poaer of eminent domain, or aoquired
for s public use, the d awarded, the proceeda for the ~ of, or the oonaidezst~ioa for such aoquisi-
tiQU; to ~he• eaten6 of th~ sanount of the remsining unpaid ia ebt~edneee sec~red by tLis mor , a?re
u
,~e~reby assignad to the Mortgagee, snd hia heirs or seeugns, snd ahall be paid forthwith to said o~ee ~
- o; his ~nee'f,~ be applied on aocount of the lsat matunng installments of euch indebtness • provided, ow-
ever, th~e
Moltg~gee or bis ass~gnee, may s6 his discretaon pay direct to the Mortgag+or, Lis ~eira or assagna
" sny part or all ~euch award; provided, that if the loan ia guaraateed or insured,~the uonsent of the guaran-
~ Lor,or.iq~urer is obtained in ad~ance of said ymea~.
- 10. Tha Mortgagee msy, at any tune pea ing s sniti npon t~his mo apply.to ths oourt huving jurisciict
tion therEOf fo~ the sppointment oi s reoeiver, and auch eourt sbs11 fo~t~ s~pomt s receiver of the premises .
~ oovered Lereby all and singular~ includin~ all and singular the inoome, pro&ts~ ~asuea, and revenuea from what-
ever source denved, each and every of ~uch itbeu~g espressly underatood, is hereby mortgsged ss if apecifically
set forth and described in the.grsnting-an~ habendwn clsuaes hereof. Such appointment ahsll be made by
such court aa an admitted eqwty and a maiter of sbsolute right to said Mortgagee, and ~rithout refereuce to
the adequacy or inadequacy oi the value of the pmperty mortgsged or to the solvency or ineolvency of said ~
' Mo tgag~ r or the defendanta. 3uch rents; profite, inoome, issues, aad revenues ahall be applied by such receiver -
aoco~rd~'ng~ to the lien of thia mortgage and the praetice of such oourt. In the avant of any defsult on Lhe part
of the Mortgag~or hereunder, the Mortgagor a~reea to psy to the Mo on demaad as s reasonsble monthlv
rental for the premises sn amouat~at least equivalent to ono-t~velith oi Lhea~gs
te of the twelv~ monthlv
instalLneate payable in the then current year plua the actual amouat of the aanual t~es, aesessments, water
ratea, and insuranoe premiums for such year not oovered by tha ator~aaid montLly psyments.
1l. In the event of sny breach of this mortgage or default on the psrt of the Mortgagor, or in tha event
tbst aay of said sums of money herein rcferred to be not promptly aad fuUy paid ac;oording to the tenor hereof
~ or ia the event that each aad eve.ry tbe atip ulations, agreemente, oonditions, aad eovenenta of ssid note snc~
t,6ie mortgag~e, are not dulp, prompdy, aad fully performed or ii the Mortgagor be adjudicated beukrupt or
mada defendant in s bankruptcy or rec;eivershi~ procee~ings; then in either or any such event, the said aggre-
w
gste aum mentioned in said note then rem unpiud, w~th interest accrued to thst time~ and ull money
secured hereby shsll become due and psyab~orthwith, or thereaiter, at the option of said biortgagee~ sa
; fulty aad comp~etely as if all tLe ssid suma of money were originslly stipulated to be paid on such dsy, an,r-
tbu?g in said note or m thia mort~age to the c~ontrarp notwithstanding; and fihereupon or thereaf ter, at the option
of said Mor~ , without notzoe or demsnd, auut at ls~r or in equity, msy be prosecuted sa ii all irionevs
eecured Lereby h~d mstured prior to its inatitutioa. TLe Mortgsg~ee may forecloee t~his mortgage~ as to tf~e
amount so declared due snd paysble, and the asid premises ahalll~e sold to aatiafy and pay the same tog~ether
, writh c:ostsi expe~, and allowancee. In case of partial foreclaaure of tLis mortgsge, the mortgeged pre p ses
ahall ba so d subject to.the oontinuing lien of tLis mortga~e for the smoun6 of the debt not tben due and ~m Rid.
~ In -such case tbe provisions of this paragrsph may agau? be svu1ed of tbereaiter irom time to time by the
Mo
lrtgag~ee. Wvver of any c~veaant herein or of tha obligstioa eecured bereby shell at any time thereafter be
Leld to be s wrsiver of the t~me hereof or of the note aecured hereby.
13. The lien of t~is instn~ment aball remaia in full forca and effect during say postponeraent or ~xtension
o~ the time of payment of the indebtedaees or aay part thereof aecured hereby.
~ 14. 1'hia mo tgage ~s given to eecure tha purchsse money, or s par~ thereot, of the landa herein deacribed
i and is eseeuted uaa deL'.v~a~ed oontemporaneousip with tLe deed therefor.
I5. Ii the Mortgagor detsult in any of the oovenants or agreements oontainea herein, or in seud note, thaa
tbe Mortgagee may,perform the earae, and sll e~cpenditurea (m'cluding reasonable attorney's fees) made by the
~ Mort~a~e m so dou~ ahall draw interest at the rate pmvided for in the principal indebtedness, sad sh ~
repnya~ble thirty (30) days atter demaad, aad, togetha rvith mtereat and eosts ~wcrued tLereon~ shall be sec
~ by ttis mortgage.
` 16. Upoa the reqnest of the Mo tbe Mortgag~or she~ll axecute and delivez s snpplemental note or
s n~ote~ for the sum or aums advaaued b~Mortgsgee for the alt~stion, modexnization, improvement, msin-
~ teaanoe, or repair of said pnmises, for taxes or aeseasrnenta agamat the same aad for any otLer purpose author-
i ized lurennder. 8aid note or nota ahall be secured hereby on s pari~ with and as inlly as if the advance
x : e~ide~oed the~eb~ were included-ia the note Snt de~cribed abo~e. ~suppleme~~ote q~ gotes -
; ~
~ : . , ~ so~~ _ 2
_