The URL can be used to link to this page

Home My WebLink About1216 • ~ . , . . • . . . ~ Secoad Mortgsge • Page Three ~ . , ue no! kept iosured as provided; or if the Mortgagor defaults ? ~ io auy of the other coveaanta, stipulatiooa or agrtemeata, the ; ~ . • ~ l~ortgsgee, ~rithout~ xsiviag or affecting the option to forecloae, ~ may pay aay and all auch psymenta or obligatioaa, may inaure the E ~ buildiags, or may otherr~riae perform aoy of the covenaata or agree- ~ menta on behslf of the Mortgagor; aod sny and ail such auma or ~ ; . ~ ~ expenses paid or incurred,~~rith intereat thereon from the date of - payment at the rate of interest prescribed in the noteaecured by ~ this mortgage, ahall also be secured by thia nortgage. ~ . 7. Tliia mortgage lien shsll extend to and ioclude all reota ~j' _ ~ and profita of the mortgaged property. In the eveat of forecioaure the court ia suthorfzed to appoint a receiver of the mortgaged. - p . • property and to -applq such rents or profitaTto the indebtedneas. : f~~ . - hereby aecured, regardless of the solvencq of the Mortgagor or the ~ adequacy of the security. - ~ 8. If aoy psymeot provided for ia the note or this mortgage . be not paid within t63rty days after it becoa~ea due, or any agree- ment of thia mortgage other thao for the paymeot of money ia breached, then the uopaid priocipai balaoce ahall immedistely become due and paqable at the optioa of the Mortgagee, sad the ' Mortgagee may foreclose this mortgage ~n accordance Mith the pro- ..:i ~ ' cedures eatablished bq law, and have the property aold to satiafy _ o= appiy on the indebtedness hereby secured. ~ ~ R~ . 9. The agreements and.promisea of the note aecured hereby ; 5 aod of this mortg$ge are iotended to be coveoanta runoing Mith the land or of any interest thereio, to be binding on the reapective i` . ; - ' romisors, their heirs, legal repreaentatives'and asaigaa, and to - . ~ nure to the beoefit of the respective promisees, their heira, ~ egal represeatativea and aasigna. 10. The lien hereby created.shail ceaae and become oail and ~ oid upon payment i'n fuii of the iadebtedaeas secured by t~ia ~ . ; ortgage and upon the full and compiete performance of ail the ~ ovensata, stipuistions and agreeaenta contsiaed io both ttiia ~ ~ - ~ ~ ostgage sad the aole rrhich .it aecures. : s3: ~ s 11. In the event that the 1lortgagors default in ~y papmeot ~ ~ a~.~,,R r coadition atipulsted in any prior mortgage for s ptriod of aixty ~ ,~,~.~..~.,r...~ ~ ~ , . ~ - $5 ~3 . ~ ~ . . , A . . . . ~ . . - -