HomeMy WebLinkAbout2637 f Thst ii t~~ principal or intarert on tMe note herein deaeribed or any part oi the ind~bt~dnw twearid
or intenst thereon bs aotp~?id when dne or ii Yort~o
r rhaU f~il to ps~r iny tuer, airar~meub, cliar~w, or ~
tion~ as tbe ~me beeome due and p~~b~a. or if drdaalt b~ mada it~ the full at?d prampt perlorm~na af ae~ oc~t
or~e nt herein oontainad. or if sny proceedi~s be inst~ted Lo abate aay ani~anca on tbe 1[o Praai~e~
or it ~ pmcaedinss bs instittrted whieh mitht trsult ~s t~ detriment d!~e nse and ~o~men t ot *r~mi~ar, or
it ltort=a~or i,r adjndieated • banl~nipC or insolvent, or it sny ~?w shall be enactod or decisio~ renderd b~ap caprt
ot laat re~ort im~po~i~ an ta~a~ or as~~n~nt not naw in effeet upon Lhis mortsa~e~ or tl~e note ~eea~ hsrrby. or
any intex~ert oi ~[ort`a~ ~n the lLorfsa~~sd Pra~enires. or nndering inopenli~e the andartslci~s oi Yort~s~[or to pay
all taxr arisin~ as s result oi thi~ transaction otLer tt?an ta:es on t6~ intere~t inoome Mretro~n, or wh3eh r~sdt~
in tM daduetian ls~om ~aln~ at land, ior t~ pnrpo~, oi the amoant of any lian bareon~ or alLezin~ t6s Lw~ ior t~
t~itu of tnort~~ or debts sseurad Lher~by, or if the Mort~~or, wlthoat tirst obtainin~ tM writtea oonNnt o~ tM
Most=~e, ~hhall -¢nnt~ b~r~ain. ~11 or conrey the 1[ortis~ed Prea?i~es or sny part Lhsreof, incladini timbr, t~a ou
the happn?ins oi rny o~ or nwre of tbw evanb, thi~ cvarey~nc+ s2?wil becoa?~ ~bwluts ~nd the wbol~ iwd~bbdnra
s~ecuxrd h~reby shall imenedistal,y bsooa» dw ~und paysbli s~t th~ aptioa of the D[ort~ps ind this may
thereapoA be iorecla~ed ior t!M whole oi ~aid money. interast nnd ~osts, or Mo~t~a~s ma~r ioreeloM o~ rnms
pasL du~ withoat injnry to Lhis morts~ or tM displa~em~nt or impsirment of thi remaindar ot tbe 1Na th~reoi~ and
at such iorecloaur~ s~le the prnparly sball bs wld subject to ail xremainins items o! ind~bt~dnMS ~nd the liart~~
may ~sin tor~clos~ in tbe ~e mann~r a~ oit~en ~ut tl~ere bs sny sum past dna
10. Ii at Ra ti~ae atter d~fanlt by ~dortg:~ar a recei~ershig msy be neeea~ary in tM~ op inion o! l[osf~~rt
to prnt~ct the lien ~ereof. or at the time oi or wtter tha in~titution of suit to colleet t~ indebt~dness h~x+sb~? Nenr~d,
or W foreclase thb mort~a~a. l[ort~g~as ~!?~ll. w ~?n admittod equity Rnd ~s s msttar oi ~trict t and r~rd-
lee~s of the valne ot the pmperty~ or the wivency or iiuolvency oi Mortp ~or or ~ny party boand~or tbt p?~n#
of the indebtedness have the ri~ht to the appoiatmen on ez parte •pplication snd withont notice to anyone, by any
proper court h~vi~ juriadict~on, oi a receiver, ~v~ich receiver ahwll b~ve ~ll of the bro~d sud dtectiw powan
and innctions in sny w~ise entruated by the eonrt to a recxiver, to take charae of. man~a, pr~rve~ maintain, ure
for snd proLect the MorP~ragod' Premtees snd to culloct renta. ~seuee, pr~eeda, produce, protit, in~ome snd rae~annes o2
the Most~a~ed Premises irom wbstnoever sourcr derived; to make all neeessary or neediul repairs and to pro~ide tna
the MoztgaRed Premises ~a eet forth in para~rapha b and f sbove, xnd Lo market the produeta thenof and recei~e
and eolleci the proceeds thet~of snd such receivership ahtall, at the option oi MortQaQee, continue tantil the fiill ysy-
ment oi all aums bereby secured, ar until Litle to the Mortgaged Prem~ees shaA have p~ssed on ssle nndes • f~re-
closurs oi thia mort~s~e.
11. Should Mortgs`or and ]dort~tagee heresiter enter into any agreement moditying or cbsi?~iag __tbe~Lerma o!
this mortg~ge ar the note secured hert6y m gny partiaalar, the rigkts of the partica to ruch ~greement sh+rU p~rior
to the righq of the holder of eury intervening lien or encumbrance.
12 Without aii.~cting the liability of anype rson (other than any person releaaed purauant hereto) for pay'n~ent af
any indeDtzdneas aecured hereby, rnd ~without sffecting the lien hereof upaa any prnperty not nleased pnrsnant hertto,
ffiorta~ee may ~t any time and fram time to time, without notice:
Releaae any peraon liable for payment oi any indeb~dness secured hereby.
(b) Renew the indebteclnesa, or extend Lhe tirne, or sgree to alter the terms, of paymeat of any of Lhe indebt-
edneaa.
(c) Accept additionsl aecuritq of any kind.
(d) Releas~e sny praperty securing the indehtednesa.
(e) Csneent to the making of Rny ma~ or ptat oi the Mortgaged Premises, or the creation af sny easemenis
thereon or any covenants restricting uae or occupancy thereot.
13. If the indebtednes~ aecured hereby is now ar hereaiter iurther secnred by chatteI mortaage+a, pledges, oon-
tr$ct~ of guaranty, assignments of leases, or other securities, Mortgagee may at itn o~tion exhau~t any one or more
of aaid securities and the aecurity hereunder, either concurrently or independently, xnd in euch order ~ta it msy
determine.
14. Nn delsy by MorCgag~ee in exercising any :°i~ht or remedy hereunder, ar otherwiae afforded by taw, ahaU
opert~te Aa a wsiver thereoi or preclude the exercise thereo! dvring the contiausnce oi any deiault hereunder.
16. Th:t the Mortgagror ehall permit the Mortgagee oz its representativea to exam{ne and inspect the premiaea
at xny reaeonable timea.
Tiiia mortgage nhall iaure to and bind the heira, legateea, deviaeea, adminiatrators, e:ecutors, ancc~asors ~nd
naaigns at the parties hereto. Wherever nsed herein, the singular number ahail inclade the plural~ thr plursl the
aingul~sr, and the u~e of any gender ahall be applicable to all genders.
Mortgsgee shsll be eubrogated to the ciaixna snd liens of all parties whoae claims or lien~ ~re dischuged or
paid with thc proceeds oi the lo$n secured hereby.
Caroly~ Lyle Davis ~~d Davenia N. Fawler~.join in the execu~ion hereof
for the sale purpose of mortgaging and ~ncumbering all of ~he right,
title and interest, if any, of each and either o£ tY~em, including
their dawer intere~t, if any, in and ~o the above described prcaperty.
~ ~
~
JN WJTIdESS WHEREOF, this mortga~ haa b~n duly ezecat~d by Lhe Mortgs~ar.
3' , rea3ed rnd deli~ered ~J/j ~ ~ ~
_ ~ rra.~ne+ ot : ~ ~1' ' y ~ ~ ~ S F.~AI',
~ G, M Philip ~avig t--
~ ~ ~
n C ol le D 's
~-t.s~-~v~ `~v~--~`z1~s t~)
rt cywle
, . _ _
.~=~~t~~~~:::~~~ ~`~E~c f.~~--~~ ~ ~
/ Davenia N . Fcrwler