HomeMy WebLinkAbout1831 ~OG~~HFA WITH sll additions~ replaceme~ts and improvements to any of the
foregoing, and all artd singular the tenements, hereditaaients and appurtenancas~
thereto belonging, and the rents, issu~es and profits thereaf, and alsa ell ~the
estate, right, title, intere~t, homestead, dower, separate estate, possess3on,
claim and dtraand wt~atsaever, as wall in 1aw ~e in equityi af the said I?brtgagor
in and to the c~ortgaged property and every part theraof with the appurtenances,
specifically inCluding all rights and equities of redemptioni all of which are
hereby exprQSSly waived. (Al1 af the foregoing~ whather cansisting entirely of
real property or entirely of chattels, or of both real property and chattels,
is herein for convenience called th~ "mortgaged property").
TO HAV~ AI~1 TO HOLD the said moxtgaged praperty and every part thereof
unta the AFartgagee forave~.
PRONIDED ALWAYS, and this mortgage is on the ~xpress condition, that if
the Mortgagor shall pay or cause to be paid all of the mo~eys rnentioned in said
Promissory Note and the interest ~herenn~ all at the times and in the manner as
therein agreed to be paid, according to the true intent and mea~ning thereof, and
shall pay all other su~as provided to be paid by this n+~rtgage, and shall perform
and abfde by all the covenants acx~ agreements her~in and in gaid Note contained,
then these presents shmll be void and the e~tate herein and hereby granted shall
cease and determi~e.
At~ SAID MDRTGA~#t does hereby covenant with the hbrtgagee that said
t,~ortc~agor, ~t the tim4 of execution and delivery of these presents~ is the
absolute t~vmer of and in possession of said martgaged property; that he has a
good right, full power an~d lawful authority to convey the same in the manner and
form herein set forth; that said property is free and clear o~ all liens of what-
~ ever nature, except as specifically meritianed herein, and Mortgagor fully warrants
the title to said property and wil~ defend the sarne ag~inst all ~awful claims
and demands except from the warranties contained in the encumbrances herein
specifically set farth.
AA1D THE MUR7GA~C`#t does hereby further covenant, promise and agree with
the Mortgagee~ its succe~sors and assigns, as followsa
1, tdortgagor will not commit any waste, or weaken or impair the securit•,
vf thfs mortgage; wil~ pgy~ prior to delinqueney~ all taxes and asses~raents le~vied
or imposed on said prop~rty; ~aill keep the mortr~aged property insurec3 in such
.~anner and in such amounts as Nbrtgagee may require; and will not remove any
chattels, if included in this n~rtgage, from ~he premises wh$re they are nnw
5ituated, without Martgagee`s written cor~sent.
2. In the event of suit to foreclose this mortgage, Abortgagee shall be
entitl~d, as a rnatter of right, w~.thout regard to the value of the mortgaged
property or to the solvency of Nbrtgagor, arul without notice, to the appointment
oF a Receiver af the mortgaged property and the income ar?d profits thereof.
3. In the e~?ent of Nbxtgagor's failure to pey taxes' or to keep the
premises ins~r~d as required, Mortgagae may, at its option~ but is not require~
to, make such payrnents, s~rx3 the sun~ so advancad sha11 be repaid by Mortyagor
+~ith i~terest as provided in the Note, and said surns so paid by the I~rtgagee
shall be seeured by this mo~tgage.
4. In the ev~nt of any default in the terms of the Note or this
rnortgage, Maxtgage~ cnay, at its option,~ declare tT~e whole indsbtedness se~ured
Ilereby to be irtu~dia~cely due and payable.
5. Tha~t n~ extension or modification af the paydk+nts to be made as hexe•
inabo~v~a s~et farth~ and no release of any part ar parts of th~ mortgagEd property,
ox af other collateral securing the abeve descrihed indebtedness, even though
rade without cortsent af th~ Moxtgagor, shall release, relieve, or discharg~ the
'~+ortgagur from the payment of any sums hereby secured~ snd hbrtgagee sha11 have
the xight to release frvm tbe lien hereof arry portion or partions of the mortgagec~
property, or othEr coll~teral held as security for said i+ndebtedness, irrespective
~f the va2ue of the released portian, without affecting the lien hereof as to the
portian or partions not relea~ed, notwith~ta~ding the fact that such release or
releases may be made without knowiedge or consent ~f the Mortgagor, or of any =
~rantee or Grantees of porti.ons of such property theretofore sold.
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