HomeMy WebLinkAbout1348 Ai~D S4I0 MdiTGAGOR does hereby covenant v,ith th~ Mortgagee that szid
Mar~,ago~, at the time of executior+ and delive~y of these presents, is the
a~'~soluta a~ner of and in p4ssession of s~id mortgaged property; iM! he has a
good right, fuit pa~~er and tewfut awthority to tonrrey the san+e in the ma~ner
and fon+r harein set forth; that said property is f~ee and cl~~r of a11 liens of
r~h~tever nature, except as specifitally mentioned here9n, and Mortgagor fully
v~arrants the title to sai~ prape~ty and will defend t'~ sarne against all lawful
claims and demands except fran the ~~~rranties contai~ed i~ the encwnbrances
herein spacifically set forth.
~ A?~O THE MORTGAGOR does hereby further covenant, pranise and ag~te
with the Mortgagee, its successors and assigns, as followss
1. Mortgsgo~ wi 11 not cam+i t any VJ~S~e~ or ~reaken or impai r the
security of thi s rno~tgagef ~~i i l pay, prior to d~el inquencr, ~i i taxes and
A5SCSS~~'1tS levied or imposed on said p~opsrty; ?~i11 keep the mortgaged prapetty
insured in ~uch mrnner and in such amounts as Mortgagee may require; and will
not remova any chattals, if included in this mortgsge, f~an the p~emises o:here
they are now situated, withaut Mortgagee~s w~~tte~ consent.
2. In thc3 event of suit to foreclose this mortgage, Martgagee shati
be entitled, as a matter of right, without regPrd to the value of the mortgsgad
property or to the solvency of Mnrtgagor, and without notice, to the appotntment
of a Receiver af the mortgaged prc~e~ty and the income and prof i ts thareof, as
welt as payment of ail costs incurred, including attorney~~fMS.
3. Yn the event of Mortgagor~s failure to pay taxes, or to kcep th~
premises insured aa required, Martgagee may, at its option, but is not ~equired
tg make such payments, and the suma so advanted shalt be rapaid by Mortgagor
with interest as provided in the "Obiigation" and safid sums so paid by the
~tortgagee shall be secured by this mortgage.
4. In tt~ event nf any defaul t in the terms of the "Cbt igat ian~~
or this mortgage, hbrtgagee may, at its option, deelsre the whole indebtedness
sccured he~eby to bes immediately due and payabie.
5. That no exteRSion ar medification of the payn~ents of the
indabtecl~ness, and no rolease of any part or pa~ts of the mortgaged property,
or of other Collateral securing thn ebave dessribed indebtedness, ev~en thvugh
made a,ithout consent of the Mo~tgagor, sha11 ~elease, retisve, ar discharge
the Mortgagor from the payment of an~r sums hereby secured, and Mortgagee shatl
have the ~ight to release fran the licn hereof any portion or portio~s of the
mortgaged property, or oxher coilaterai held as se~urity for said indebtednass,
irrespective of the value of the raleased portion, witheut affecting the lien
hereof as to the portion or portio~s not reieased, nalwithstanding the fatt that
such release or releases may be made ~ithaut knawiedge or consent of the Mortgagor,
or of any Grzntee or Grantees of portions of such property theretofore so1d.
YN WITrESS 1~hiEREOF, the Mortgagor has signed and sealed these pressnts
the d~y and year fi~st above wr3tten.
rncx ~a~t~s ~a Maxr~ ~o2~~s, a/b/a
Signed, sealed, and ckiivere d SOUT`H DIXZE GZOCERY ~JD S~RY
in the presence ofs
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~ ~ ti'~ . ~ N ck Thom~a
tness
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