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Home My WebLink About1964 - • , y;' . . ~ ' i . • - • • ' • ~ ~ Mort~or shaii ~o the Mortg~ee aq~ ~oouat neoewr~ t~o mak~ up the deflaeao~. ' 3ua6p~,~ meat s~6all ' ~ b~ m~ds withia ~(SO) dps ~i~er wrloten oot~ios trom the Mor~ga~es ~t,atia~ tl~e ~uaoua~ ot ~he de6aeaa~, , wLich noLios my bs ~iven b~ mail. It Lims the Mo~rtg~r- ~h~lt t~sader to the Mortg~ges ia ~ooord- i saos with t6s~pro~u~on~ oi t6e note ~ee~Le~eb~. full p~,ymeat oi tDe eatirs indeM~edaea repraPakd tLsreby. ths Mu~gages shalt. in oumputing the soaonati ot auo6 indebt~edae~s. credi~ ~o the acoouat ot t6e ~ Mostgagor aqy credi~ balance rem~iniag under the provisious ot (o) ot aid h Z. It there ~hall be • dei~ult under aqy ot t6e ~rovisans ot t6is morig~e+ rewl ia a publie ssle ot e premises oovered hereb~ or ii the Mortg~gee acqwres ~6e propertj ot6erwue atter de~~?ult~ the Mortg~~ee shall~ ~pp 1y~ a0 Lhe time of the oommencemen~ oi wch proceedings or ~t tLe time the property is otherwusscquired. ~6e smoun~ then nmaining to endi~ oi Mort~agor uader (a) oi paragrapL 8 precedin~ ss ~ credit on We interesti aocrued and unpaid aac~ t6e balance to tfie princip~l tLen reanaining unp~id oa s~d note. ~ 4. He wlll pyr dl ta~oer, aeeeseme~nh, wi?tee nter, ~nd ot6ec~o~men W oe muniaiP~l eh~r~a„ 8aa. a~ ~ ~P~~, for wWob provision has not bean matis Lece~nb~fors, aod ia detault thereof t~l~e Morti+~iee m~,y py? ZLO ~ •ame; ~nd t6i?t bs wtll pzompt~r deliver !be o~l reoe~pt~ tbarefor to t,6s Mor~es~. ~ He will permit, oammit, or a~ee ao w~ ia,p3rmea oe da~erlorntfan ot add pe+ope~ a tbereot ' aaooep! re~sonabis wasr and te~r• a~ in t6s ev~t ot ths i~ ot ths Mort~ to keep tbs bui~d~ on sai~ ~ pe+emi~e~ and thoss to bs ereete~ oa nid pe~em~ee~, oe impe~ov~+meat~ t6ereo~ ia ~ood repair tbe Moita~ee myr i maloe ae6 repaiss a~ in it+~ d~rettoa it m~y aeem neoeeeary !or ths~~e~op~ peeeerv~?t~on d?ee~eo~ aod tbe full amount ' . ot a?ch and every n~oh p~,ym~ent sball bs d~e ~nd iMyaWs thirl~y (~u) d~?s attee ~demand, aa~ ~haU bs seaurad b~ !hs lie~ ot thi~ aooet~s. - a. Hs will p~y a11 aad dn~ilas tbs oosta, and ea~peaee~ ineludin~ reason~bls Lwyer's fees~ ~nd cost~ ot abstraob oi ~it1e, ineurred or paW a! aqy time b~at~~ee beesuee of tbe failurs an the par! ot tLs Mortaaaoe pt~omptb? aad t~o peiform t6s a~ree~nenh and ouveoants o[ eaid pe~omieeory noLe and this ~o~t~a~e and eaid ~ sLa11 bs immediste~jr dns and p~y~bie and ~ be ~ecured by ths ltenn ot t-his mo~t~s. ~ T. He wt~l oontinnaur~j maintsin Lasard i~ranos, a~ su~ bps or t~pes and ~mouats as Pdortg~gee ma7 E trom lime to tims reqni~+s, on the ianpro~ements now ar Lsi~eatt~er on ~aid~r~m~eea~ and excep~ wLen payment tor ~11 weh premiums L~s theretofore been made undee ~(s) oi paragc~~Lh 2 Lereof he will P~7 P~p~y dns aq~ prsmiums tLeretor. AIl insuranoe shall bs carried ia o~mP~n~es aPPro~ b~ bi r~~ and tbe poli- aes and reaewals tLereoi svall be Leld b~ Mortgag~ee ~nd Luvs stit~,Led tLereto loas payaba 3s cGu~a in ia~or at aad in form acoeptable to the M In event o~ loee he will gi~e immedi~te notioe b~ mW to Mortgsges, ~ad M ma~ malce prooip~~ ii mt made pmmpt~j b~ Mo~ga$or~ and each msuranos oomp~l ma ~ oonoerneda~ authori:ed aad direeted to malce P4yment for suc~ bas die+ec. to M u~sttead oi to Mortg~gor and ~iortgagee jointly, ~nd tLe i~nnaoe prooeeds, or at~ part tbei+e~~ma~ be~.by I11o~t. ~~~es at its opt~ion either to the reduct~on of the iadebt~edness Lerebj secured or to t~e restont~on or rspair a[ , tLe proper~j dama~ed. In event oi foreclosure of tLis mort~ag~, or ot~er Lramdee o~ title to tLe mortgaged pe+~perty ia ti of t~Le iadebtednees secmbd Lerebj; aIl rigLt, iitle~ and interest oi ths Mortgagoc ~ in and to aR7 insunnoe polici~s t~hen in foroe ahall pass to tLe puir,baoe~r or graatee. 8. Ae will not esecuLe or Sle of racx?rd sny i~trument ~v6ich ianpoaes a restricwoa upoa the sale or oocu- , p~Y P~'oP~Y des~xibed Lereia oa tLe baais of noe, oolor~ or creed. ~ 9. If `~e premises, or any par~ thereof ~ be condemned under tLe power of eminent domain, or aoquired for a public use, the d ea awarded, the proceeds for the~~~ oi, or the considerstion for such aoquisi- ~ tion, to the eatent of th~ull amaunt oi the remaining unpai'd indebt,ednees eecured by thia mor~gag~, are hereby aasigned to the Mortgagee, aad his heira or assigns, and shall be paid forth~vit6 t~o eaid M~~- ~gee or Lia ee to be spplied on acxoun6 ot the last msturing inat~allmente of auch indebtneee • pmvided,-Low- ever, LL~ortgagee or his aesignee, msy st hia diecretion pAy direct to tLe Mortgsgor, Lis ~eirs or aeaigns , - any psr6 or sll of such awi?rd; provided, thst if the losa is guaranteed or inaured, the ooneent of the guaran- tor or insurer is obtained in advance of said ymeut. 10. The Mortgagee m~y, aL any time ~en '~m ~g a suit npon this mo appiy.to tiie oourt having juriscii~- tion thereof ior the ap intment o[ a reoeiver, and such oourt phall to~t~ ~pomt receiver oi the pcemises o~v~red Lenby all ~singulu~ includin~ all aad singulu tbe inoome, pmfite, issues, aad reveauzs !rnm wh~t- ~ ever souroe denved, each and every of vrdich it beu'~g ezpreasly uaderstood is Lereby mortgaged as it speci&caUy set forth md des~xibed in the granting aa~ hab~adum clawaes hee+eoi. 3uch appointment shall be made by auch oourt ~a an admitted equity and a msttar of abeolute rigLt to said Mortgagee, and wiL6ou~ refecence to the adequacy or inadequacy ot the value of the property mortgaged or 6o the eolvency or insolvency of said Mo tgag or the defendaats. Such rents pmfits, income, iasues, aad revenues shall be applied by such receiver acoo~~ing to the lien of this mortgsge an~ the practioe of suc6 oourl. In the eveat oi any default oa the part of the Mortgag~or hereunder, the Mortgag~or ~reea to pay to t6e Mo on demand as a reaeonable ~noathlv rental for the pretnises an amount-at lesat eqwv~lent to one-t,weUth of thea~ga te oi the taelve anonthlv inatallments payable in the then current year plua the actual amount of the annual tues, a~emeats, ~rater rates, and 'u~surance premiums tor such year not oovQred by the aforesaid monthly paymaats. 11. In the event oi any breach of this mortg~ge or default on the part of the Mortg~g~or, or in the event ` tLati any of said aums of moaey herein nfen+ed to be not prompdy and fuUy psid aooording to the tenor hereoi ; or in the event that each and every tbe atipul~?tions, agreementa oonditions, and oovenanta of uid note an~ t6is mo~~ga~ge~, a+e no~ daly, prompdy~ and fully performed or i~. the Mortgag~or be adjudicat~d bankrupt or made defendaat in a bankruptcy or reoeiverahip pmceedingat tLen in either or any such event, the said aggre- ; gate sum mentioned in asid note tLenremunwg uapsid, with int~erest accrued to tlut time. sAd all moaey e ~ secuired hereby sball became dne snd psyable forthwitb, or t6eredter, at tbe option ot said biortgagee, as ; iully and comp~etely as if a11 the said swns of moaey w?ere originally stiputated to be paid on such day~ ~a~ k thing~in uid note or m tLis mort~ag~e to the contrar~ notwitLstanding; and tbe~reupon or then~fter, a~ the option oi said M agee witbout notros or demaad~ swt at Lw or ia equity, m~y be pe+oseeuted iue if all nionevs ~ecured hereb~~~y li~d matured prior to its insti~ution. Tbe Mo~ may fireclooe tiais mortgag~e. as to t~?e e • aa~wunt s~ declared due aad pnyable, and tLs said premisea ahaU sold to satasfy aad pay the same togrther with oosta~esPen~es. and aUow?~ace~. In case oi pirtid toreclosure ot tLis mortgage, tbe mortgaged pre p i~ees shaU be so subject to.tLa oontinuing liea oi tbis nwrtga~e tor the ~mouat ot t6e debt ~t tbea due and ~u~ aid. R ~ ~ In ~aucr~~ ths pruvision~ of t~his parag~aph may agaia be avu'led oi tberedtec irom time to time by tbe ; Mo ~ 12. No w~iver oi aay oove~aanti herein or oi tbe obligotion eecured bereby ah~ll at any ~ime thereafter bs Le1d to be s waiver of tbs rerms Lereoi or oi tbe note eecured Lereby. 13. 1'6e li~n of t6is instrument s6all remaia ia full foree and eHect during u?y postponement or esteaaioa € o~ the time oi paynunt oi the indebteduees or any pae~C thereof secured hereby. ; 14. TLis mo~~e n given to secure tbe purcbase money~ or a part tLereof~ oi the lands henia de~cribed ~ aad i~ ezecuted ~ delivered oontemporaneously with the deed tLesaf~. ~ = 15. Ii tbe Mortg~gor det~ult in aay of tbe o~vea~ats or ~eemeats oontained Lereia, or in said note, then ~ tbe Mortgsgee may pertorm the s~me, ~nd aIl espenditur~es_ ~'including reasonable att,ornay's fea) m~de by the t Marltg~g~es ~a so dom' gsLaU draw int~ee+est at the nte provided ior in the principal indebtedner, ~ad shaU be R rspa oWe tbiriy (30) days att~er demand, aad, togetber witL iaterest aad oais aecrued tLereon, ~6all be secused r b~ t~is mortga~s. F ? 16. Upon ths requa~ oi tbe Mrt~a~es ths Mortgsg~or sh~U ezecute aad delivee s wpplementsl note or ~ ~ note~ to~r tbe wm or a~ms advanced b~ ~ tbe Mortgagee tor the ~lterst,ioa, improrement, aasin- . ~ ' ~ teaanos, or repair oi ~a~d p~~ae~, for t~a or aMaemeats aga~ast tLa same and i~ any otba~ purpaa aut~hor- aos ` ; ised Le~+eunder. 3ad note or notes ~hall be ~eeur~ed L~reby on a pant with aAd as i~ill~ ~s it tbe ~d~~aos ~ ` e~ideaaed tbersb~ wers iaeluded ia tbe note fiist de~xibed ~bo~s. ~wpplem~ntal aote or notei shaU beu , 0. R. ~ 6~~ IC _ _ _ - ....:,'i ~ .