HomeMy WebLinkAbout1695 . • - ; -
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We defiaienay. Suchp~rm en~ shuU be m~de nvithin thir6y (30~ d~ys uttet rvri6ten rfouc~ fe~oriri~ the Mo~tgagee
atating the amounti oi t~he deRcieaay~ which notice nuy bs Stven by m~il. It at eu~,p time the Mortgsgor
~hR11 tendee to the Mortgagee in aco~rdaace ~vith the pravisions oi the nots w~cured hereby, iuU payment,
oi the ent,irs indabtedaeee representsd thereby, the Mortgagee as trustee shaU, in oomputiag the smouat of -
such indebtedaees~ credit to che ~ooount of ths Mort~~
r uiy credi~ baluace reansiaing under the provisions
of (s) of ssid p•r~r~ph Z. Ii there ahail be ~ deteult undec ~ny oi the provisioas oi this mort~ge reeulting ~
in a public ee~le af the premises oovered hereby~ or it the Mortgsgee ucqwres the property otherwiee stter
detsult, t6e Mortgagee e~s truetse shall spply~ st the tima ot tha oommencemeu~ of such proceedinga or ~t '
the time thQ property ie otherwiae acquired~ the amount then rem~ing to craii~ oi Mortgsgor undet (a~!?t ~
rem~aming~ unp
don ges'ld ~o
s~it oa the interest aocured and unpaid and tha bslaoce to tha principsl en
4. He wW pyr aD ta~e~, ~b, w~f~ee rate~ aod othee verameaW oe munidpal ohar~a~ Sna~,,, as
n~ ~
rm~and
t6 t b
sR~ill p~e~oa~np
br
d~ellv~ee ~ r~pv
t~bet+eto~r
to f~
M~ori~~ee~. ~6s Mort~ee an~Y pU? t~s !
• b.. He wIll pera~iR oo~nmit~ a w~ee ao waat~s, tmp~iemea or deterionttoa ot e~id prope~t~ aaq~r thee~eol
p~iee~ ~?nd tboee~
~te~ oa d prembeti oe i~ ~ura ai ths Mwt~o~r to keep ths build~ oa ~e~
m~1CS .uch npai~,..?. m its aieoreuon !t Prove~eat~ thereon, m gooa repair the Mortga~ee m.,~, ,
m~y deem aeoeee~ty ice t6spcope~ preeerv~t~on thereo~ a~i the fuli umount
at esah and every aoh p~yment ~ha1l bs dus and p~yabls tAir~Y (30jpd~,y~ ~ftec demand, ana ~6a11 bs aeo~ued by
ths Ne~ ot tW~ n~o~rt~s. _
4. He wlll p~y all snd elnauLr t~Ls oos~. and eacPeaee~, inaludinK reasonabb L ees,~
~ a[ abstraats ot ii iaaurred or ~ rt~or
PaW at ~~qy' t~ims bY ot4~ee beawse d t6eKiaiture oa tl~e pa~rt
~ the Mand oosa
P~''~P~Y ~ to pe:iorm tbe ~reeaueah and ooven~ats d s~id pi+amieeory aoUe and this mo and sa~d
~ 00~ ~ ~l~E~ ~ ~ ~IID~L~ d1~ iDd ~ ~ !~1 b0 ~EOUS'E(~ by ~ ~CII Of~InGt~.
~ 7. Hs wilt coatinnoua~ maintain bwrd ;tmeuranas, of such t,ps c~t~p~ aad aa~ouata as Mortgages oW
l~+o~n tims to tims nqudns, on tLe impraveanents now or he~re~itAr oa ~aid _~r~mises md e~oep0 ~rhen petiymsa0 +
ior all such premiums L~ iLeretoiors been made under (a oi pangra~ph 2 hereoi ~e rniU p~y promp~y ~rheo ' z-:
dus aq~ premiums thereior. All insuran~os ahall be ~ in oompantee MPe+o~e~ by 11i sad tfia pol~ '
~
ote~ and renewab thereoi ahall bs Leld b~ Mortgagee aad Lave atitached tbersto loes p,yab~~uses in ia~or oi j.
aaandd ~
orm aooeptabls to ths M ~g~ages. In event ot loes he will givs immediats notioe by nuul to Mortgagee, 4
arlg~ages~bma7 mvice prool~~1! loes it not made promptly b~ Mo~rtgsgor, wd each insuranos.oomp~q~
ooacerned ~s ~uthori~ed and direated to ms1~e p4yment for auch loes du+ec~ to Mort~~ u~stead o~
!o Moxtgag~or and ~ortgage~ 'oin~y
, aad t6s inauraace prooeeds, or aay part there~ may bs ~?p.ptied by I~iorb•
~ages ~t ita option eifher to ~e reductaoa oi the indebtednees hereby eecured or to t~e restor~taon or repsir oi
the proper~~ d~ma~ed. In event of forectosurs of this mortgage or other ~xa~er at title ta the mortgag~ed
~~~~t oi ~~a~~.~a ~i. sh ur~, und intereat oi the Mortgag~or
ag ~
aq1 ' policus tben? ia foros ~Lall pas tio t,hs purch~eer or grantes, f
8. Ha will not e~cecnte or Sle oi reoord any instru~nent which imposes ~ restrictioa upon the sale or oocu-
paaay oi the proper~y deecribed he~reia on t~he basie of nce~ oolor, or creed. '
9. If the premisee, or any part thereof~ be oandemned under t6e power oi emineat domain, or acquired
for s publia ~e, the d es awarded~ the proceeds for the ~ of, ar the oonsideratioa for sach saloisi-
_ Lion, to the extent oi th~ull umaunt oi the remsining unpaid in ebtedneee secured by tbie mortga~e, ste ~
hereby eesigned to the Mortgagee, and his heirs or seaigne,: wd shall be paid forthwith to said Mo~-tg~gee
or hia ee w be spplied on account of the last maturing. installments of suc6 indebtneee• pmvided~~io~v-
~ ever, th~or~ee or hie assignee, msy at hie discxetion pay direct to the Mortgagor, hia ~eirs or aeaigas .
aqy part or all o eu~h award; provided, that if the loan ie gusranteed or insnred, ~he consent of the guaran-
tor or insurer is obtained in advance of eaidpaymeat.
10. The Mortgagee m~y, st any time pen
id
ng a euit upon tbis mortg~ge~appty to the court huving jurisdict
tan thenoi for the sppointanent ot s receiver~ aad euch oour~ ehaU fortFi~n a~paint a receiver oi the premiae~
eovered Lereby all and singulsr; including all aad aingular the iacome, profit~a, issues, and revenuea from what-
ever sounx denved, each and every of w~uch it be'wg ezpressly understood ie hereby mortge~ged as if s ificsU
ere e ged pec'fi y
set forth and descnbed in the gr~?nting and habeadura clsuaea hereoi. ~uc6 appointment ehall be made by
such oourt as an admitted equity aud a matter of abeolute right to said Mortgagee, and without retereace to
the adeguacy or inadequacy of t6e value of. the property mortgaged or to the aolvency or insolveacy oi said
A
Mo r or the defendvnts. 3uch rente, pmfite, income, issuee, and revenues shall be apptied by auch receiver
ucco ' g to the tien of this mortgeig~e aad the prsctice of euch oourt. In the avent of any default on the put
oi the Mortgagor-hereunder, the Mortgegor s~ceee to pay to the Mo on demand ~a s re~sonable tnont6lv
rentsl ior t6e premieea an unount at least equ~vslen~ to one-twelfth s? of the~~
te of the twelve monthly
inetaUments pay~ble u? the then cwrent yesr plua the actuRl amount of the anuual tsuee~ asBeesments~ ~?ater
rstee, and insuranoe pr~emiuma for auch year not oovared by tLLe dores~id montWy p~ymenta. -
11. Ia tha event of aay bresch of this mortgage or def~ult on tLe p~st of the Mortgagor~ or in the event
that sny of said sums of money Lerein referred to be not grompdy and tully pi?id according to the tenor hereof
or in the event thst each and every tbe stipui~tions~ agreementa ooaditions, aad covenanta of said note an~
tbis mortgage, are not duly~ pmmpdy~ and iully per[ormed or i~ the Mortgagor be adjudicated bankrupt or
made defendant in s baakruptcy or receivetsbip proceedit~gss thea in eithec or any snch event~ the said aggre- :
gste aum menlioned in said note then remainu~g unpad~ v~nth iat~erea6 a,ccrued to thst tirae, and all money
~ecured hereby atuU becoms due and p~yable forthwith, or thereafter, at the option of eaed I1io~gagee, as
fully and a
p~etely as ii all Lhe s~id aums of money ~?ere origin~lly stipulated to be paid oa such day, anr-
t}ung m au note or m ttua mort~age to the aontrar~r notvv~thatandwg; uid thereupoa or theresiter, st the option
of seud Mortgagee, without notice or demaad~ awt at law or in equity, m~y be prosecuted as it all monevs
:~ecured hereby ~~ad tnatured priar to its institution. The Mor may forecloee this mortgag~t, sa to t6e
aanount so declued due and psyi?ble, ~?nd the ssid premisea shall~ld to satistp wd p~?y the aaa?e together
with oosta ezpeneee, and sUovrances. In caee of p~rtad foreclosure oi this mortgage, the mortgaged premieea
~hsll be sof
d subject to the continuing lien of Wis mortga~e for the amouat ot the debt not then due and iinp~id. c
Yn such case tbe provisions oi this garagraph may aga~n be ~?vailed oi thereafter trom tiaae to time by the
Mozt~a~ee.
12. No ~rdve~ oi an~ oo~eaan~ haeia or oi the obligation se~wred hereby sh~ll ~t any time there~iter be
held to be a~v~iver oi the teraas Lereoi or ot the note ~ecused hereby.
13. The lien of this inatrument ah~?tl remain in full forc;e and e~ect duriag aay pwtponement or extension
o~ ths time ot payment oi the indebt~edaer or any part t6ereoi sec~u~ed h~reby.
l4. Tbi~ mortgage is given to ~ecurs the purchese money, or a patt thereoi, of tLe lands herein described .
. ~oo ~
aad i~ e:ecuted aad delivered contemporaneously with the deed thereior. Le a.
1S. Ii tLe Mortgagor dafault in any oi the covenaats or sgreements oontained herein, or in said note, then ~
the Mortg~~ee msy pertorra the same, urd all expenditnres ~including reaeonsble attorney's lees) msde by the ~ '
M~a~ee m so dou'~g shall dtaw iateres~ at the rate provi ed for in the princip~l indebtedness~ i?nd shsll-be
b
psyable thirty (30) d~ys after demand~ and~ togetLer wit.h interest ~r?d costa aceru~d there~n~ sLatl be sec~ ~~3 ~
y this rtgage. ~
18. Upon tbe reques~ oi the Mortg~e tha Mortgag~or sh~ll e:ecute aad delive~r a supplemental note or '
; •oote~ fos the wm or aums adv~noed by Mortgagee for the altention, u~oderaisi?tioa, improvemen~, maia- ,
` teiuaoe, or repair of said premises, for taxes or aeeessmeats ~gainst the same and for any other purpose author- ~
i:ed Lereunder. 3~id nots or note~ shali be secured hereby oa a p~ar~it~y ~rith aad as tullp as It tha adv~nce
i evideaoed therab~ wers iaciuded in ths note fust de~csibed abovs. esid supplemental nots or nota shall bese ~
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