HomeMy WebLinkAbout1074 And said Mortgagora. for themselves and their hein, legal representatives, succeiion and as~'rgns, hsreby jointly and sevsr~lly covenant •nd ~yree
to and with the seid MORTGAGEE, it~ successors and assiqns:
1. To pay all snd singular the principal an~ interest and tfie various and sundry fumf of money peyebie by virtue of seid promiuory notr, and this
mortgege, each and every, promptiy on the days respectivefy the same severolly become due.
2. To pay all and •ingular the taxes, assessmerta, levies, liabilitiee, obfiy~tiona and tncumbr~rx~s of EVEry nature ~nd kind now on ~aid de~cribed
propcrty, or that hereafter may be impoted, s~fferrd, piacrd, levied, or assessed thereon, w that hereafttr msy be levied a asse~sed upon thi~ Mortg-
age, o~ the indeb!edness serured hereby, each and every, when due •nd payable, atcording ro law, before they become dalinquent, ~nd befor~ any Intsr~st •
attaches or any penalty ~s inc~rred; AND iNSOFAR AS ANY THEREOF IS OF RECORD THE S.AME SHAII BE pROMPTIY SATISFIEb AND DISCHARGED Qf
RECORD AtJD THE ORIGINAI OffICIAI DOCUMENT (SUCH A5, FOR INSTANCE, THE iAX RECEIPT OR THE SATI~fACTION PAPER ~FFICIAILY ENDORSED
OR CERTIFIED) SHALL BE PLACED IN THE HANDS OF SAID MORSGAGEE WITHIN TEN DAYS NEXT AFTER PAYhhENT, and in tha event that any thereof is not
paid, sat;sfied and discharged sa d MORTGAGEE may at any t~me pey ihe samc or •ny part thereof without waiving or aifectinq any oprion, lien, equiry or
•iqht under or by virl~e of this mo~tgage an-f the full amount o£ eeth and every such payment ihall be irnmediately due and payable snd shsll bear interest
F~om thr dete thereof until pa~d at rate of eighS per centum per anr.um and !ogather w~th futh interea~ shnll be secured by the lien of th:• morgtaq~.
3. To piw snd tontinuously krtep on tM buildinqi now or h~r~~ftsr ~Itv~t~ on ~aed land ~red on ali equiEmxnt ~nd p~rsonslly cover~d by thi~ mortp~
ap~, with •II pr~miums th~rw~ piid in fvll, fiea ineur~nc~ in t'he v~ual ~land~rd patiey form, i~ ~ ~um ~pproved by the MORIGAGEE, snd windstorm
Inwr~ncs in ih~ uawl ?tandard poliry form, In •~vm •pptvV~d bX tM MORTGAGEE, in such compmy or comp~nief u tFw AIORTGAGEE may
dirett; ~nd •il fir~ •nd windslorm insurance politie~ on •ny of" ieid bu~ldiny~, •ny interest therein or part thereof, in th~ ~99re~at~ tum ~fa~s~~d w
In ~xcsss tMrepf, ahall contain fh~ uoval it~ndard mort9eses cl~use or such other cl~use ths Mwt~~flee m~y r~qu~n, makiny tM lots undQr ssid polh
d~a, s+~ch tnd' wery, payable to said Mt~RTGAGEE s~ iif interest .TiAy epp~~r, ~nd e~ch •nd every iuch policy ~hati be promptly •u.qn~d and dslivered to '
•ny held by Nid MORTGAGEE a~ furthe~ ~ecurity to uid mor~gafls debt, and, not I~ than ten (10) dayi in advance of rlx •zpir~tion of ~~ch policy, to d~
liver to said MORiGAGEE a renewal thereof, toyether with • recaipt for the pnmium of ~uch ren~wel; end rh~re shall bs no firo o~ wind~torm in~~ranc•
p~ated on •ny of ui~ building~, eny i~tereet therein w pert thereof, unless in tM form •nd with the loss payable ae aforeeaid; •nd in the ev~nt any sum
of money became~ payabls under •uch policy or palicies ssid MORTGAGEE •hell havs ths option to receive and •pply the teme on •ccount of tha indebtcd-
rwu ~ecured hereby or to permit said MORTGAGORS to reteive and uie It w eny part thereof for o~her purposes, w~rhovt th:reby waivir,g or impair•
Ir?p any puity, li~n or riyM under or by virtw of thi~ rt:ortQaqe; and in the •vent Nid MORTGAGORS •hslt fw any reaaor f~ii to keep tha teid premises so
in~ured, or iail to deliver promptly •ny of said polic+es of in~urance to •aid MdRTGRGEE, or fail promptly to pey f~lly any premium therefor or in ~ny
r~spect hil ro p~rform, discharge, ezec~te, effett, complete, comply with snd ~bid~ by thi• covenant, or any pan hertof, sa;d /~ORTGAGEE mey place end
pay fa auch Inturance or any part thereof without waivinfl or ~ffecting ~ny option, lien, equity, cr right under or by virtue of thii Mortqage, ~nd the
full ~mount of eech sn0 ev~ry ~uch payment shail be immediately dua and p~yebie •rx! shsll bear interest from the date thermof ter,til paid •t vhe rat~ of
~in~ per centum par annum and together with ~;;ch interest shall be ~ecured by the lisn of this mort~eqe.
1. To permit, commit a suffer no waste, impeirment or deterioration of ~aid prcperty a~ny part thereof.
S. To pay sll and sinqular tFa costt, charges and expen~es, inciudiny a re~sonable attwney's fee and costs of abstract= of titie, i~curred or paid at
•ny t~me by taid MORTGAGEE, betause or in the event of the failure on ths Nert of th~ said MORTGAGQR to duly, promptly •nd fully perform, diacharqe,
sxecute, effsce, tomple!e, comply with and •blde by each and every the atipulations, ~greements, conditiam, and covananti of ieid promis~ry note •nd thif
mortpepa any or eithe~, end iaid costs, charges and exNenses, each a~d evrry, shell be immediately d~e end psyable; whether or not tfier• bs notic~ dr
mand, •ttempt to collect or wit pend~ng; end the fuil amour~t of each end every tuch peyment eheli kxa. interest from the date rhereof until pa+d at the
rete nf nir.r pet tentum per ennum; and all seid costi, charqes and expenses inturred a p~id, toyether with such interet!, thal! ba tetursd by the lien Of Thia
mort9~ye.
d. Thst {a) in the avent of nny breech of this Mortgeye or defuutt on tFr pa!t of tt~e MORTGRGOR, or (b! in rha event any of ~sid sums of money
~ heretn raferred to be not promptly and fu~ly peid within thirty (30) days next eftsr the same sever~(!y become due snd paysble, without demand or notit~,
or (t) 1n iF» ev~nt esch snd every the atipuletion~, agreementt, tonditions and tover.~ntt of ~a~d prom~?sory nore and th~~ rtwrtpeya any w tithsr •r~ not
1uly, promptly and fully performeci, d:scharqed, e:ecuted, effected, compkted, complied with and ~bidtd by, then in ather or any wch event th~ ~aid ag
preqaf~ wm rnrntioned in seid promiuory note then remeirtinp unpeid, with interest sccrued, •nd atl moneye ~ecured hereby, shalt bacome dw •nd p~y~
•61• forthwith, w 4hereafter, ~t the option of taid MORTGAGEE, es fully arx! completely p if all of the ~sid ~umi o~ money wan oriyin~lty atipul~ted
fo bs peid on tuch day, a~ything in said p!omiuory note ar in thfs Mortgege to ths contrsry notwithstsndin9; and ther~upon or thereaft~r ~t tM option of
taid MOR7GAGEE, without notica or damand, suit at law a in equity, therefore or th~r~afttr bspun, may be prosecuted et if all moneys ~scu:sd Mreby
hsd maturad pr~a to it~ institutioe
7. That In thn event tFet at the beginniny of w at ~ny time pendinfl any suit ~pon tfii~ Mortg~ge, or ro forecloss it, or to reform it, or to eniorce
paym~nt of •ny claimi hereunder, said MORTGAGEE shall apply to the Covrt haviny jurisdiction thereof for the sppointme~! of • Receiver, such Court th~ll
forthwith eppoir.t a receiver of seid morty~qed property ell and singular, inclurl:ng •II and sinquler the income, p~ofits, ifsueY ~nd revsnuof from whatw~c
wurca derived, each and every of which, i~ being axpreuly underttood, i• hrreby mort9~qed ss if aprcifically ~et forth ~nd de~tribed in th~ pr~ntinq •nd
habe~dum cleuse~ hereof, and •uch iteceiver shall have •11 the broed and effectrva funct~om ~nd powen in anywise entrusted by • Covrf to s RKCIVH, •nd
wch ~ppointment shall be made by •uch Court as an edmittsd equity ar.d a mattsr of •bsolute rfqht to u~d MORTGAGEE, and wishovt ref~rence to th~
•dsquacy a inadequ~ty of tha velue of rhe property mort9aged or to rhe solvency or insolvency of seid MORTGAG~R ov she d~fendants, snd th~t tuch
r~~tt, profin, income, iaue~r and rev3nuea shall be applied by ~uch Receiver atcordinq to the IiEn or eqvity of s~id MdRiGAGEE •nd the pr~ctite of such
Cotrrt.
8. To dufy, prnmptly and fully perform, clischarye, execute, effect, complete, tomply with end ebide by each and evory the stipuletioru, aqrs~m~nh,
conditiont ar~ covenanti in ~nid promissory noto and !hiy mortgage set fo~th.
9. TMt i.^. the event tl~e ownerxhip of the morsflayrd premifet, or ~ny part thersof, becomes vested in a perwn otFwe~ than the NiORTGAGOR, the
MORTGAGEE, iri wccetwrs snd aa~igns, msy, without notice to tise h10RTGAOR, deal with such successor or •uccessor in inferest with ref~rance ro tfiia
mutysq~ snd tix de6t hereby tetur~d in the tam~ msnnar aa wirh Mortqaqor withpvf in •ny way vitiatinQ w~d~uhar9inp t~ Nbrteepon' liability herr
unde+ w vpon the de5i hareby iecurrd. No wie of the pr~mise• hereby mortpaged •nd no forbearonce on the p~rt ot the MGRTGAGEE w it~ suit~~sars
or ~uiqru i~ no ~xtsns~on of she rime fa the payment of the debt heroby eecured qivsn by rhe MORTGAvEE or irs aucceswn or su~pr,~, ~hetl op~rat~
!v nl~w, d+~cMr~, modify ch~ny or sffect th~ oriflin~l li~bility of tha MORiGAGOR hsrein, eifhsr in wholt w in p~rt.
~ l0. !t h~pecific~lly spraed fhet time it of the easence of tnis contract snd that no ,veiver of any obl~gatior~ here~ndtr or at iha ablifl~twn te~
tur~d Mr~by shal! af any time thereafter be held 1o be a weiver oF ths ttrms her~af or of the instrumenf s.etu+e6 nsrby.
11. In sddition eo the forego~ng monthlY payment• of princ pe! md interest requ~red 5y the prom;swry note iecured hereby, mort9~gor coven~nts
~nd eqr~ to pay to mart~~gH with eech menthly psyment an •ddirional •um sttimated by mortacgee to be equal to 1/12 of the ennwl cost of th~ follow-
~^G~
A-All n+l pro{»rty t~xe~ levied or e~aessed ngein~t rhe sbovs dear~bed real ei?ate.
~-Premiumy on ins and windstorm im~renca at herein reqv~red to be cerried on the improvement• s:t~ate on the above described ~iremises.
t-Premiumf on such mortqege guaranry insurance ~s mortga9ee thsll fram time to time deem f+t tc carry on the tosn tecured h~reby.
~V4ortyaqse shall f.om ti:~e to eime notify mortfle8or in writ~nfl of tFr~ emount due and paysble he~eunder snd •uch sum shall thers~pan b~ dw ~n3
p~y~bb or~ ths du~ date of the next monthly paymsnt and eech successive month thereafter until mo~tqagee thall netify mprtpe~or of • chanps in wch
~rnount. Suth sum~ shall ba applied by mertgs9es toward 4hs p~yment of resl pro~rty tsxes, insursnca prom~ums, and mortgag~ 9usranty =nsuranp
prtmiums. '
iN ITNESS WHERECIF, tF~ sa~d MORTGAGOR ha• Msreunto ~et hl~ hand and 3eal the dsy rgr~ ye~r fir~t ,~f6~~' 7 , ~
s! a~ Ilvev~d in d» pr p ot:
L' c _ , _
~ ~ ~ c ~ r, ~ X D
, - ' ' y. ~n
- x ~