HomeMy WebLinkAbout2161 fines, or impositiuns, fur ~~~hich pru~•isiun has uot been made hE~reinbt~fi,r~, and in ~tefault thrrt~uf th~~ niurt-
gagee ma~• pa~• the saine; an~~ that he H~ill protnptly deli~•ez• the utlirial receipts ttierefoi• tu ttit~ n:~.~i~tKa~~~~~.
5. That he ~•ill p~~rmit, cummit, c~r suffer no H•aste, impairment, or deteriaration of s~iid pr~~pert~~ ur
aii~• part thereof; and iii ttte c~•~~nt of the failure of the mort~agor tu keep_the ~UII(~IiIjZS U11 SSI(1 }ll't'n~is~~s
and those to be erected on said prtmises, or impro~•ements thereon, in goo~i repair, the m~~rt~Ca~+~~~ n~a~•
make such repairs as in its discretiun it may deem necessary~ for the proper preser~~atian therc;t~f;~,and tl?e
full amount uf each and e~~~r~• such pa}•i~~~~nt shall b~ imme~liatel~~ due ancl pa~•able, anci s4~a11 t~e .secui•ec~
b~~ the lien of this mortgage.
6. That he ~~~ill pa~~ all and singular the costs, charges, and e.r•pet~ses, including reasonal,le la~~~~•f~r's
fees, a~id cwts of al~stracts uf title, incurr~d or paid at an~• time b~• tt:~~ niurtga~ee because of t}ii~ fail~u•~>
on the part of the tt~ortgagui• prc~mptl~• and full~• to perform, the agreements a?ici cu~•c~n~ints of sai~1 ~u•~~c~i-
issor}~ note and this mortgaKe, and said costs, charges, and expenses ::hall be inimediatel~~ c?ue and p~~~•-
abte and shall be secured by~ the lie?i of this mortgage.
That he w•ill keep the impro~•ements no~s existing or hereafter erected oti the mo?•tgaA~d propei•t~~.
insured a.4 may be required trum tirne to time by~ the r7~ortRagee against loss b~• tire and other h~~zard~.
casualties, and contingencies in such amounts and fc~r such pt~riuds as ~~a~~ br rec~uired b~• m~~rtR~?Kc~e ~
and w'ill pa~• promptl~~, w'hen due, any premiums on such insurance for pa~~rnc~nt of ~~•hich pro~•i,iur~ ha,
not been mac~e hereinbefore. r111 insurance shali be carried in cumpanies appr~~~~ecl b~• mui~tK:i~;~~~~ ~in~?
the policies and rene~;•als thereof shall be held k?~• mortgagee and ha~~e att~i~'`1@(~ t}1PCE't0 loss pa~•~~l,lr~
clauses in fa~•or of aud in form acceptable t~ the mortgagee. ln e~•ent af l~~ss he ~~~ill gi~•e immediate
notice by mail to mortgagee, and mortgagee ma~• make prc,of of loss if not n~ad~~ ~~romptl~~ bt• mc~rt~aKc.i•,
and eact-? insurance compati~• concerned is heret~~~ authori•r.ed and dii•ected t~~ mak~: paymerit fo?• sucl~
loss directly~ to mortgagee instead of to mortgagur and murt~aKee iuii~tl~~, an~l ti~e i?isui•ance prucer~is, oi•
any part thereof, ma~~ be applied b~• mortgagee at its optii~n either to thr reducti~~n of the indebt~~cl~~t~s;
hereby secured or to the restoration or repair of the propert~~ damaged. In e~~ent oI furt~closui•e ~~f this
mortgage or other transfer of title to the mortgaged pruperty in extinguishm~~nt uf the inrt~~bte~jncss
secured hereby, all right, title, and ititerest of the mortgagor in and to an~• insurance policies then in force
shall pass te the purchaser or grantee.
8. That the mortgagee ma~•, at an~~ time pE~nding a suit upon this mortgage, appl~• to the court ha~•-
ing jurisdiction therec~f for the appointment of a recei~~er, and such coui•t shall fort}i.~~ith appoi~;t a
recei~•~r of the premises co~•ered hereb~~ all and singular, including all and singular the income, protits,
issues, and rerenues from w•hate~•er source derived, each and e~~er~~ of ~~•hich, it being e~pi•essl~~ uncle?~-
stood, is hereby mortgaged as if specificall~~ set forth and described ir~ the gi•antinK and htibendum claus~~s
hereof, and such recei~•er shall ha~~e all the broad and effecti~•e functions an~~ po~~~ers in an~•;~•ise
eritrustec~ by a court to a recei~~er, and such appointment shall be made by- st~ch court as an a~lrr:itt~~~i
equit~• ar.~i a mattet• of absolute right to said mortgagee, and without refei•ence tc~ the adequac~~ i~r in.~~i-
u.~uacy of the ~~alue of the property mortgaged or to the sol~~enc}• or insol~~enc~• of sai~l mort~aKor c~r thE•
defendants, and that such rents, profits, income, issues, and re~•enues shall be ap~~lie~l b~• such r~~cei~~er
according ±o the lien of this mortgage and the practice of such court. In the e~~ent of an~• defat~lt c~n thE~
part of the mort~a~or hereunder, the mortgagor agrees to pa}~ to the mortRagee cr1 demand as a reas~~n-
able monthly rental for the ~~remises an amount at least equi~~alent to one-t«•elfth of the aggrc~~ate
of the tw•el~~e mvnthl~• installments pa~~able in the then current year plus the actual am~~iint of the ani~ual
taxes assessments, ~.•ater rates, and insurance premiums for such }~ear not co~~E~red t~~• the af~~resaid
mont~ly payments.
~ j1.iC (~l ) ill ~~it' t~\~.~ilt t~~ ~ltl\ ~lY~'RC~I t~i L}11S I11U1'l~,~it~;t~ ~~1' t~rl~:lt~l ~~il 1~1~~ ~).11't ~~t t~it' li11~t'I};.iKl)1'. u!'
i l~) ]I1 lfli' t'V~t'll~ l}l.lt .1111' i~f ~lil(~ ~IUII;: ~~l Ill~~ill'V' ~1c'1'l'lll 1't'1('1'1't'l~ ?l~ Rut ~)1'~~hlOt~V" <'IIl(~ fU~~V' ~)~ili~ 11~11~1-
~sllt ~~l•Ill<'lll~~ uI' :1~~11Ct~, U)' 111 t~li' t'\"t'tlt t~1Rt t'Ill'~l ~lll(~ t'\'l'1'\' t}lt' `t1~111~i1ilul:S, 2i~;1't't'Tilt'11±5, Ct~ll~~ltlUtl,`.
:llltj t'uA~t'lillili5 ~~I ~.tl(~ li~~(~• 2ll1!~ ~~115 171ti1't~[ii~;t', iU't' Ilt~t (~11~1', ~~l'ufll~)t~~~, :lll~~ lti~~V" ~)t'1'fl~l'lllt'(~; tllt'it 111
t'li~ll•i' ul' :1!1\' ~lll'{1 ~'\t'lll. l~lt' ~Rltl :t};~Y~'~.,r:ltt' ~UTT] Ill~'I1~tU11~'(~ :Il i.llt~ Ilntt' t~lt'll 1'i•Ili:t111111}.! Ullf)ittl~. \\'ll~l
Itltt'Yl'~t ~IL'C1'lltY~ t~l t{l~lt tllll~'. illl(~ 21~~ I11UI11'V'~ ~E•C1U't'(~ ~lt'1't'~)1'~ Sfl:l~~ ~)t'CUllit' t~llt' ~ll1l~ j)iiV"ilf)Il' t(~YL}llA'lt~l,
~~l' 1~1t'1'+~lllit~l', ll? i~lt~ ~~~)ti~~ll i~l ~.li~~ Ill~~l't~~l~;t't~. RS tll~~\' <Uli~ l'I~)lij)~~'ti~~\ ~i~ Il lt~l ui t~l!' :.llf~ SU1115 u~ I11Ut;~'C
~~r~~ ~,r~,~iuail~~ :ti~~ui,itt~~i t~, I~~~ ~~ai~l nn ~u~~h cla~-. an~~thii~~ in sai~i u~~t~~ ~~r in thi~ Illul't},~lz~,r~~ t~~ the c„u[r~~r}~
:Il~i~1'I~fl~tlill~lill~,'': ~l?1~~ l~lt~t'~~il~~ull ~~2' t{lt~l't~~lit~'1', 21t t{lt' ~l})tlc~ll ~~1 atU~~ illtil'1~R~t~t'. 11"It}1i~11t Il~)t1Ct' liY ~lt'illlitl(~,
;uit ~tt lu~c ~~r ii~ f~~~uit~~, ma~~ I~t~ pru~t~cut~~~l as if all m~~ut~~~s sc~ctn~~~~l h~•rci~~~ hxcl m~it~u~~~~l ~~riur to its in•ti-
tutiun. "I'ht~ ~~i~~~•t~,r~i~,r~•~~ »>a}~ t~~rt~cl~,;t~ this m~,~•t~*ak~~, ~is t~~ t{i~~ <~?~~~uunt su ~lrclart~~l ~iu~~ an~i }~a~ablc~. ati~l
tfu~ ~<iiil ~~i~~~n~i:t~~ :.l~~ill i~t• ;~~l~l t~~ :atisC~~ an~l p~i~~ tli~~ s<<mt~ tog,~th~~r ~~~ith c~~;t;, ~~x~~c•»•~~s. <uul ~ill~~~~~~in~_~~s.
~ll l'2t~C' t~1 ~)2ll'T121~ 1~~1't'('~i)~lll't' ~i1 tflt~ illr~l't~;Fi~;~'. L~IE' lll;~i'l~.,rll~t'~'t~ ~)i't'llli~t'~ ~~l.l~~ ~3t' ~n](~ ~Uf)It'Ct 1.l) t}lt' Ct)l~:-
tin~~ing li~~n ~~f thi: 111~~1't~,rFt}.(r f~~~~ th~~ :u»~~ut~i ut~ thf~ ~i~~ht nut thrii ~lu~~ an~l un{~ai~l. ln si.irh ra:~~ the~ {n•~~-
I~I~!]1~ h( t~ll~ ~)~iF:l},rl'~l})}1 Ill<l}' i1~;~4111 ~)t' ~i\~il~t'(~ l)~ tilt'1'l'~lttt'!' il'(1I11 t11111' t~~ ~1111t' ~)t" iflt' 1211~1't~,r~l~,rl•t''.
1~. ~rf13t ~tit' Illul'1~.;~~i~~~t' \1':~~ ~.;1\'t' 1111t11('~~IlitC' IIUtiCt' Itl~ill tu t~lt• Itlul't~,'":lS;i't' uf lill}' C'+)11\rS'itil('~'.
tr:u~,t~~~~. ur ch,tnkf~ ~,f u~: n~~t•,hi~~ „t th~~ ~n•~~mis~~s.
11. ~~11.'tt T1~~ t1'~~l~t'1' ~~l ~lll~ c~~\'c'1121T1t IIi~Y~'lil ~rC Uf ~~lt' ufillf[<ltl~~ll ~l'('lil'cK~ tilt't'P{~}' ~~l;l~~ ~lC ~1111' 1.lJilt'
~Ilt'i't':ltil'1' f)t, }.~.'~i~ l~~ ~~t' Il ~1~11~'EI' i~t ~~lt' tf't'tll~ ~it'1'l'(~1 U1't~~ t~lt' I;~~tl' ~l'c'!11't'(~ ~lt'1't'f~~".
12. That if the mor•tgagor defztilt iri an}- of the co~•enants or a~reements containt:d hereiti, ~~r in
said nute, th~~n tile m~~rt~~igee ma~- E~ei~fui•~i t}it~ sa?~le, ~ind ~~ll etE~enditut•e~ (including i~eas~~nai;lE~ att~~r-
r~e~•'~ fees) macie 1~~• the m~~?•t~,~a~~e in su duing shall ~ira~s intere.t ak the rate set forth in the nute secured
her~l~~•, arid shall l~e repa~~al~le imriie~li~?tel~~ anci ith„ut derli~?nd i~~• t?te mc~rtgagur to th~ mortg~gee, and,
togt~ther ~cith interest ~t.a cc~:t~ accruin~ tht~revr~, sh.ill l,e secured by this mortgage.
1.3. T}lllt t}lE' 111Fi11:T1,.~', l~f .1 ~5'1'IttE'tl IlO~1CP OT' (~E[11Ai1(~ Afjf~YPFS~(~ t0 t}1e U~ti'11E'I' Uf 2'PCOl'C~ Of t~if° 11101'f~,TR~,TP(~
~)1'tllll~t':i, OI' (~il'ECttl~ tll t~lE' F2U(~ UAt'i1E'i' ilt t~1P_ ~~ltit ~li~(jI't'~~ f1C2U:1~~~' tUCI11~ItE'(j iU t~lE' Tiltll't~,r~i~E'E?, OT' (~IT't:CtE'(~
~ to ~<si~l ~~~+~nt~r at ~aici m~~r•t~r.i~,reci ~~re~niise~, an~i mailc~~i 1>~~ the I'nited ~t«tes mai(., `hall i~e ~ufiieie~nt riutic~~
and detr.~snd it~ an>- case ilt'l~llly, UIl(Ier ttus instrument and re~iuire~j 1~~• ti~~e l,ro~~i~icros hereuf or ln• 1a~~.•.
1~. Ti~e m~~rt~,ra~;~~i• cc~~-enant~ ~ind a~!•ees that so lc~n~,r a:~ this murtga~e ancl the s~iid ne~te secc~re~i
he~ehr are in~ured i~ndet• the l,r~~:~isi~~ns ~~f tht~ \atiur,al II~~u~ing :~ct, }~e «~itl n~,t executc ~~r filt, f~~~~ rt~r~~r~~
~in~~ in~trument ~ti•hic~}~ impui;t~ a re:trfuti~~ti t~~~n-fi:ht~ ~~L~E UI` u~rii~~<inc~~ of ~iie m~rt~t?~e~i pr~~s~E~rt~~ an tlit~
h<t~is t~f t•ace, c~~1~~i•, ur ci•ee~l. ~L~E,~~n an}~ ~•i~~i,?tiun c>f this undert~kin~, the n~<<~l~tgag~ee ~r~a~•, at its ~~~rti~~r,
c~eelare t}~e un~rsi~~ h,il~uu~e ~,f tht= ~lel~t ~t~eured iic~rel~~• immediatc~l~• due 71i1(I ~1,1~'~:hle.
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