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HomeMy WebLinkAbout1673 _ . . , ~ Mortg~ger.shall t~o the Mortg~gee ae~ snwunt neoeeesr~ Lo m~lce up the deHcicAO~. .Suchp~pmea1, sli~tA e• m a d e ~n thia L~ (30) d p s dt~or wri~ten notaos trom the Mortg~gee st~ t i n g the amount oi t il e de8cicnaY~ ~ whicli notace mq~ be ¢i~en by m~il. Ii sue~ed Lerebt~he Mortgago r s h~ l l ten der t+o t he Mortgagee ia scco r d- aaos with Lhs~ provieans of the nots aec y~ inU payment oi !he entire indobtedneas represrntcd thereb~, the Mo~s~ ahaU, in oompu~ing the amount of ~uch indebtodaeas, oredit to the sooount of tho M~r any aredi6 bslance ramauun~~ under the provisions oi (s) oi se~id p ph 2. Ii there shell be • defs t under a~y oi the ~rovisiona ot this mortge~e nsulting in a publia aale of e premises oovered hereby or ii the Mortgagee ~cqwses the property other~vuse attcr defsulL, tLe Mortge~ee shall ap ly, at the tame o~ ~ tha commencement ot such proceedings or at the time the property is otherw~se~cq~ the amoun~ then remaining Lo credit of Mortgagor under (s) of pare~gtsph a preceding ss a credit oa the interest accrued aad unpaid anc~ the balanos to t6e principal then ramsining unpaid on eaid nots. n 4. He wiIl paT aU la~oee, ~eeeeements~ wst~er r~tee, ~nd oRher veeamente~l a munioipal chsrges, fiaee, ar . f~npoeiLions. for wLieh provieion Lss aoti beea made heieicbefore, and deisult thereof the McrtB~ m4Y W~Y ~ : esme; and thst ~s wIll PromPt~jr deliver ths o8'ioial t+eoe[pts therefoe to the Mortg~gee. b. He wtll permit, vo~nmit, o~ s~ae no waste, impdrmea or deterloration of eaid property or~y psrt ~hereof • eocaepZ reaeonsble wesr and tear• aad ia tLe event of the f~ure of the Mortg,egor to keep tbe building~s on aai~ eocae p~emiees ~and t,hoee to be erecte~ eaid P~'emiees. or improvaonents thereon, in good npair the Mortgagee maY maloe wch rep~?ira ss in its disoretlon it msy deean neoeeeary for tbe proper preserv:?tion thereo~, snd tbe full ~aouat ot each aad every snah psyment aball be due aad P4Y+~ ~~Y C~) ~ sitez demaad, aad ehsll be aecured by : the liea of tLis mortg,ags. ' ~ ~ ~ . 6. He will psy a11 aad ~Ls tLe ooets, rgee, a~nd eo~pcnees, includins rea~nsbk kwqer's feee, and oosta~ of sbetraats of title, incurred or paid st ~uq? t~ime ~ry~the Mortg~ngee beosuee of tbe failure on Lhe part q~f the Mort~agos • p~mp~y and i to perfo:m the a~e~nenta and ooveasnts at eaid p~oanise~ry note and thid mortg~e, and eatd ~ aoets, charges. ~eQcpenses aLall be fnomedistebr dne aad py?able and ahaII be eecured by fbe lien'of t~hia mortgage." ~ . 7. He w~l o~ntinuons~j m:3nts~n basard 'msun~noe~, of ench t~pe or t~pes and amounts as ~ 11~ortga8^~ ~Y from time to time reqnire, on the improvemeata now or L~ereafter on said p~and eacept when psynient tor alt such p:;emiums haa theretofore been msde uader ~(s) of paragrsFh a hereof e will PsY Promptly when due any premwms therefoi. All inauranoe ehall be canied ia eompaaies spprove~ by Martga~ee and the poli ciea and renewals thereof ahaIl be hdd by Mortgag+ee and have attached thereto loes psysble crsuses in favor of and in form acceptsble to the Marl~ In event oi loes ha will give immediste notioe by msil to Mortgagee, wd Mostgagee, may maks proof o if not made prompt~y by Mortgagor, snd each insurenoe oompa~y ooncerned is hereb suthoriaed snd direeted to make p~or such losa du~ect~y to Mort~a~ee~ b toad of to Mortgagor and ~ortgsgee joint~i~~ and the insuranoe ar an~ part there~f msy be ap 7i y Diort- , ~a~gee at its option eitLer to the reduction of the indebtedness hereby secured or to t~e restoration or repair of ~ the property damaged. In event of foreclosurs of tbis mortg~, or other t~er of title to We mortgaged ~ p~+operty ia eztinguiahment of the indebtedneee seeured Lereby; all right~ tit1e, snd interesti of the Mortgagor ia aad to aRy i~uraaoe poluies then ia loros shall psss ~o the purcbaser or gi~antee. ' 8. He will not e:ecute or file of record any inatrnmenti which impo~es a reatriction upoa the sale or oocu- ; psncy of the property deaaibed hereia on the bssis of race. oolor~ or creed. ~ . 9. If 'the premises, or any part theseof, be oondemned under the power of eminent domain, or acquired ~ for s public use~, the d awsrded, the proceeds for the ka~ing of, or the oonsideration for such soquisi- j ~ tion; tb;the,e~teat of Lh~ amount of the remaining unpaid indebtedneas secured by this mort~age, are - hereby assigded~t,o the Mortgages, and his heira or sasigns, and ahall be paid fortLwith to said Mor-tqegee ' or his assignee to.be applied on ac~count of the last matunng inatallments of such indebtnesa• provided,~ow- ! ~ ever, the Mortg~gee or his assigneei may at his discre~ion psy direc6 to the Mortgagor, Lis ~eirs or assigns , •sny par6 or sll of auch award; pmvided~ that if the losn ia gusranteed or insnred, the consent of the guaran- tor or insureac• ~ obtained in advance of said ymeut. 10: The Mortgagce msy, st any time pen ing s suit npon this mo spply.to the oourt huving jurisdic tion thereof for the appointment of a reoeiver, and such oourt s6all fo~t~ s~point s receiver of the premises aov~*e.d hereby all and singular, includin~ all and singular the income, profits, ~asues, and revenues irom ~vhat- ever eourae denved, each and every of wh~ch it being ezpresely understood, is hareby mortgnged as if apecificallp set forth and descxibed in the granting an~ habendum clsuses Lereof. 3uch appointonent shall be made by . such oourt ss an admitted equity and s mattsr of abeolute right to said Mortgsgee, and without reference to the adequacy or inadequacy of the value of the pmperty mortgaged or to the solvency or insolvency of ssid ~ Mo r or tbe defendants. Such rents~ profits, income, ~aues, aad reveauea ehsll be applied by such receiver acoo~' g t,o the lien of tbis mortgage snd the practioe of such oourt. In tLa avent of any defsult on the psrt of the Mortgagor hereunder, the Mortgagor s~rees to psy to the Mo oa demsnd a8 a reasonable monthly rental for the premises an amount-at least eqwvalent to ono-twelfth of tLeaggregste of the twelve. mont~ly installmenta payable in the thea current year plua the actual amount of the annusl ta~es, sssessments, wster rates, and insun?nce premiuma for such year not oovered by tLe sioressid monthly payments. 11. In the event of any breach of this mortgego or default on the part of the Mortgagor, or in the event tLat any of said eums oi money berain referred to be not promptly and fully psid sccording to the tenor hereof or in the eveat tbst each and every tbe stip ulstions, agreements oonditions, and covenants of said note an~ t6i mort~age, are not duly, promptly, and tully performed or i~ tha Mortgagor be adjudicated banl~upt or meda defendaat in s baakruptcy or receivershi~ proc~edin@~; then in either or any such event, the said aggre- gste eum mentioned in said note thenrema~mg unpaid, vinth iat,erest accrued to that time, and all monep aecured hereby s6all become due and psysble fortLwith, or thereaiter, at the option of snid I1iortgagee, as fully and oomp~etely as if all the said sums oi money'were originslly stipulated to be pnid on suc6 dsy, en~- ~ thing in asid note or m thia mort~age to the contrarl notwithstanding; and thereupon or theresfter, at the option of seud Mortgagee, without notace or demand, suit st lsw or in equity~ muy be prasecuted sa if sll irione~-s . aecured herebylu?d mature~ prior to ita institution. The Mortgagee may forecloae t~his mort~gRge~ as to tf~e amount so declared due and psyable, and the aaid premises ahalll~e sold to sat,iafy and pay the same together ~rith c~oats ezpenses, and allovrances. In case of partial foreclosure of tbis mortgage, the mortgsged prnmises shall be so~d subject to tLe eontiauing lien of this mortga~e for the amount of tbe debt not then due and unpeid. In ~such caee t~?e provisions oi this paragrsph may sgsia be svailed of thereafter from time to time by the ~ Mo~. - 12. No waiver of aay oovemant herein or of the obligstion secured bereby ahull at any tirae thereaiter be held to be a waiver of tLe terms hereof or of tbe note aecured henby. 13. The liea of tbia instrument shaII remain in fuIl force and effect during eny postponement or extension of the tame of payment of the indebtedneas or any part thereof aecured hereby. 14. 1'his mortgage is given to secure the purchase money, or s part thereof, of the lands herein described and is ezecuted and delivered oontemporaneously with the deed therefor. 15. If the Mortgagor default in any of t~e covensnts or agreements eontained herein, or in asid note~ then ~ . the Mortgag~ee msy per[orm the same, aad a11 ezpeaditnres (m'cluding reaeonsble attoraey's fees) made by the Mo~a~e in so dou'~ shall dr~?w interest at the rate provided for in the principal indebtedness, snd sl~nll be ~pay"sble ~~y (30) days after demaad, and, together ~vith interest sad oosta accrued tLereon, ahell be secured , tb~s mo 5 16., Upon the request oi the Mort~~g~ee the Mortgagor ahsll execute and delive~r a aupplemental nota or = notes for the snm or sums advanced by tfie Mortgagee for the alteration, modernizstion, improvement, msin- 4 ~ teaance, or repair of said premises, for t,a~cea or assesaments against the ssme aad ior aay other purpose autLor- • ~ iaed hereunda. 3aid note or notes shall be secured hereby on s parity w+ith and aa fully as it the advance e evidenced thereby wera iacluded ia the note first described sbove. 8aid supplemental note or notea sLsll be+u ' E 2 p0(~R~•'/• • ; . - V / ~ ~v ~ YIiLn ..~4 .~1~: 'C ~ ' Z~ 1 ~ "a~`~^t'L~ .