HomeMy WebLinkAbout1762 ~ ,+wwv.F.~y„ri,~. ••J.Y'•r~~IlY~1\r h'~S .~yy _ '1~ ~i.~!~e •r `1=
te~der b tl~S Moe~gages ia ~oooe+d~aoe wi1,h the pe~ovi~ions ot u~e note ~ecured hereb~, tull p~vnunt ot the
entie~e indebted~as repre~eat~ed thee+eby , the Mortg~gee~ ~ tnnt~e. ~hal1. ia oon?puting the ~n~ouni ot sucl~
iodebt,edaa~~ credit to the ~ccownt o[ the Mortgagor aay credit b~lance remuning unde~ tl~e provaans ot
ot widpangn
ph a. It thece shall be a default~ under ~t?y ot the provrans ot t,his ~uo~tga~e e+eaultinR in •
publie sals oi Lhe pre~nik+s covered hereby, or J ttw I1~artg~e acquir~s the property otherw,~+ ~fter dotault.
t~hs Mwi~g~ges~ ~ t,ruetee~ ~h~U apply~ a~ t.he tune o~ tbe conunpncenient ot such proceedings or at the time
the pe~operty ~ otherwise acquired~ the an~oun~ theri remuai~~g to credit ot Mo~tg~gor under of paragnpl~ 2
preoeding as a cn~dit on the int~c~rst ~ccrued ~nd unpaid and the balance to 1~he principal then rniiiaininR unpsid
on said nof~.
He wiU all tase0. ae~, w+tee n?te~. and otber~overasoental ot muaietPal ohae'~es. Sner. ae
impo4tions~ ia wbioh provieioa hae not beea m~ds beeeinbetoi'e. and In detwl~ thereot tbe Mott~es miU? PRY ~
Mme; wd ~h~?! bs wtll pe~omptb? detiver tLe offici~l reoeipts tberefor to the Mort~~ee.
b. Hs wdU permif~ oommil, or suBer no w~ imp~irmea~ or deterlo~stlon of ea~d piopet~y o~ba~? psrt thered
aa~oept reaeonable ~?ear and t~ear• and in the evea! of t6s i' ure of t6e Mort6sgor to lceep t6e u~ldindo on eai~
p~, o~ improv~neats L6ereon, in good np~it the Mort~ge~ mi?y
oi a?c6 ~nd
ev~ery ~suc6 paymenL ~ahaU be~d itbirty (30)~daysp
d~tes
dem
nd, and~ ehsll be secured by
' ~ the liea ot tbis mort~e. -
; 6. He will p?y all and einguLr the oosts, ch*cges, and e~cpense~. includins reaeonable Lwyes'~ fees, and oosts
of sbstncta ot t~tb, incureed or paid sti any time by the Mort;agee bedwee ot the tWure on the put ot t6e Mortaagor
~ P~PUY ~ tully t,o pedorm tbe sgceement~s ~wd eovenants ot said pTOmieeocy note snd thia mortaa~e, and eaid .
i QOdt,e, Cbtl~es, and expemes ahall be immedistely due and p~,yable and sbsll be seeured by the lien of tLis mortg,aga
7. He will oontinuoua~j maintain hsaard i~ur~nce, oi such tiype or types snd amounts as Mortg~ee ma~
~ ti+oan time to tima require~ on the uuprovements noa or l~ereaiter on said pnmises and e~ccep~ ~vhen payment
t tor all•such premiuma has theretofore bean msde under (s of paragnFh 2 6ereoi ~e wiU pay promptly wLen
i due an~ premiuane- therefor._ All inaw~nce aholl be cani~ in eomp~?wes aPPmve~ by I?ia~ and t6e poli
~ • eies and rene~rals t6ereof a6sll be held by Mortgagee snd h~ve sttached thereto loes paye?bb uees in fsvor of
' and in form acoeptable to tLe Mori~g
ee. In event of losa he will give immediate notu~e by mail to Mostgagee
and Mortgagee msy malce .proot oi Ioes if not made pmmptly by Moctgagor~ and each inaunaoe vompan~
e~ncerned is hereby~authonaed and directed to make payment for such losa die+ectly to Mo~g~ inatead of
to Mortgagor and Mortgagee 'ointly, and the inaursnce pm~eeda, or any~part thereof msy be spptied by Mor~
; ~agee a~ its option either to ~e reduction oi tLe indebtednees hereby eec~u~d or to t~e reetontton or repair of ~
' Lhe pmperty daans~ed. In event of forecloeure of t6is mo~~ or other transfer of title to tha mortgs~ed
~ property in e~ctingwahment oi the indebtedneea secured hereby, all right, title, and iat~erest oi the Mortgagor
~ m~nd to any uisuronce policies then in force shall p3ss to the purchsser or grantee. `
i 8. If the prewis~~s~ or an~- purt tl~ereo(, be cond~mned under tl?e power of eminent clomain~ or acquired for
~ public use~ tlie damages swarded, tl~c proceccls for tl?e takin~ of, or the cunsiclernliau for sucl~ acqu~sition, to
~ the eatent of the [ull a~nount oi Uie rc~neining w~paid indebtedness securc~l b~• this iiiottgs~;e, arn l~ereb~
assigned to the Mott~ee~ and his lieira or a~sigus~ and sLull t,c paid tortl~with to aaid Mortgagec or hffi
~ osa~n ee to be applied on account of thc leat u?oturing installu~ents o[ sucl~ indebtednesa; providtKi~ however,
~ the Mort.gager or h~s assi~nee, u~a~ al li~a discrnlio~i pa~ dirn~•t to tlie Mortgagor,l?ia l~eira or assigns any part
~ or all o[ sucti award; pmv~ded, that i[ the loan is ~uarantecKl or inaurecl~ Lhe consent o[ the guarantor or insurer ~:a
! is obtained in advance of said pe~ uient.
" - 9. The Mortgpgee msy, st any time pendins a suit upoa t6is mort~6e. uPP1Y to the oourt bsvin~ jurisdictiori
; ihe,reof for the ~ppointment af s reoeiver, ~nd such oourt s6all forthwitA sppoint s reoeives ot the p~emisea oovered _
~by sll atid eingular~ includins all and ain~ular the inoome~ PmSta. iesues. and reveaues lram whatever eouroe
deriYed, euch and every of whic6. it bein~ ~preasly underatood, is herebY mortp~ed as it specificaUy eet forth and -
` ducribed in ti~e ~anting aad h:bendum cLuees 6ereot. 8uchappointaneat eLall be ma,de by eucL oourt ae aa admitted
~ equiLy a~nd s matter of sbeolute rig6t to aaid Mortg~agee, and without r~erenoe to t,he adeq~uey or inadequsey of
tbe vdae ot the propedy mortga~ed or to the eolveacy or ineolvency of esid Mort~or ~ the defendants. 8uch
' i rents. pmfits. inoome~ iesuee. and revenuea s6all be applied by auc6 receiver aocordin6 to the lien of thie ~rtgsge
aad We practiee of sucb eourt, In the event of sny detault on t6e part of t6e Mottg~gor hereunder, t6e Mortgagor
~ agi~ees to p?y to the Mo ~ dennand as s reasonsble monthly rental for tbe p~+emiees an amount at least
ag
equivalent to oae-tweUth_~of the aggre8ste ot the twelve montWy installmenta psysble in t6e thea aurrent
. yesr plns the utusl amount of tbe annual teucee. aee~saients, wster rstes, snd insuranoa pr~miums for siuh year
; aot covered by the eforeeaid monthly payanents.
` ~ l0. In the eveat of any breach of tbis mortdage or defanlt on the pstt of the Mort~or~ or in the event tLst.
t I any ~ said e~mns of money herein refened to be not promptly snd fuUy paid acoordw'
gto t6e tenor hereo~f, or in the
` event thst ea,ch and every the stipulations, agr~ementa, oonditions~ and oovenants of esid note snd t6is mortgsae, .
i ~ are not dulY~ P~P~Y._and fully pedormed; tben in erther or any euc6 event~ the asid sggregsteaum mentioned
in said note t6ea remainins unpaid, w;t6 intereat accrued to that time. and sll moneys secured heereby, a6all beoome .
~ due and psyable forthwit6, or thereafter. st the option of snid Mortg,agee, as fully and oompletely ga if aU of the
; aaid sums of money were ori~nally stipulatsd to be paid on suc6 dey, any~hing ia said note or ia t6ia mortgage to
~ tLe oontrary notiwithstanding; aad thereupon or thee~eatter~ st the option of eaid Mort6,sgee~ wit6out notice ae
demsad~ suit ~t Isar or in equit~~ msq be proaecute~ sa if sll moneya eecured hereby had mstured prior to its inatitu-
~ tion. The Mortdsgee msy forecloee th~a mortgage, as to the amount eo declar~d due and payable, and the eaid
; prem~s~ ahall be eold to estisfy and pay the eame together ~rith coste, eupeasea, aad albwancea. In caee of psrtid
, foreclosur~ of this mort686e. t~hg n°°~gag~ Premiees s6a11 be ~o1d. wbJect~t4 the. ~nuA~B lien ot this mortgage
for the amount oi the debt not tben due and unpaid. ~Ia such c~ee tbe provisiona of thie psragraph may again be
~vWed of thereafter from time to time by the Mortgagee. ~
' 11. No waiver of ~ny oovewwt 6er~in pr of the obligntion eecured hereby ehall st any time t~herestter be beld
to be i waivei of the t~rms hereof or of the note eecured heceby.
12. T6e lien of t6is instrumeut ahall remain in full force and effect durin; any postpo~t or e~ctension at
t6e time of psyment ot the indebtednees or any part thereof eecured 6ereby.
13. Ii tLe Mortp;or default ia any oi the oovensnt~ or a~eemenb oont~ined herdn~ or in nid note, then ths
' Mort~ee may perform the eam~e. ~nd all ezpenditurea (inctuding reasonable sttorney's fas) msde by the Mort~es
in so dou'~ ehall draw iaterest ~t tha rste provided tor in the principal indebt,ednees, aad ahall be repayable
; tbittY (~0) days atter demand, and, togeWer with interes6 and ooats accrued these~n, ahalt be secured by
~is mort$age. ,
14. Upon t6e requeat oi the Mortgagee t6e Mortgagor eLall esecute and deliver a supplement~l note or
notes for We sum or sums advanced by the Mortgagee for~the altention, moderaization~ improvement, main-
~ t~enance, or repair oi said premisea, for taxea or asgeeementa ag~inst the asme u?d tor any other pur~OSe author- ~
i~ed hereunder. Said note or potea ehall be aecured henby on a puity ~vith and as fully as if the advance
~ e~idenced t6ereby were included ia tLe note first deecribed above. Said supplemental note or notes shall bear
interat at t6e nte provided for in the principal iadebtednees sad aLsU bepa
yable in prozimately equal
~ monthly payment~ for such period as may be agreed upon by the creditor aud debtor. Fa~g to agree on the
m~turity, t~he wbole o! ~bs sum or sums so advanced shal! ba due and payable thirty (30) days atter demand
by the creditor. In no even~ a6a11 the auturi~y extead beyoad ~he ult,imate maturity oi the note firet
de~cribsd above. ~
e°'~~ 1~.0 ~5~~ .