HomeMy WebLinkAbout0204 A~d seid Mortgagor~, for themseives and their heirs, legal representativea, iuccessari and atsign~, hereby jointly and severaliy tovanant and aqr~
to and with the said MORTGAGEE, its svccessors and assigns:
1. To pay all and singular the principal and intereit and ~he varioua and sundry rumt of money payable by virtve of tsid promissory not~, +nd th1~
mortgage, each and every, prompNy on rhe day~ respettively the same sever~lly become dw.
2. 7o pay al! an~ •ingulef the taxes, asaassmrnt~, levies, liabilities, obligations and trxumbrantat of every nature ind kind now on taid dascribad
property, or that hereaft~r may be impotecl, suffered, piaeed, levied, or aues~ed 4hereon, or that fier~after may ba levisd or aaeissd upon thir Mort¢
age, or the indebtedness secured fiereby, each and every, when dve and payablt, stcording tn law, before they betom~ dalinquent, ~nd b~for~ •~y int~r+~t
attaches 6r any penalty fs incurred; ANO INSOFAR AS ANY THEREOf I$ OF RECORO THE SAME 5HAll BE PROMPTLY SATISFIEO AND DISCHARGED OF
RECORD AND TWE ORIGINAI OfFiCIAI DOCUMENT (SUCH A5, FOR INSTANCE, TNE TAX r~fCftPT OR THp SATISFACiION PA?ER OFFItIALIY ENGORSEQ
OR CFRTIFIED) SHAIt BE PLACED IN THE HANOS Of SAIp MORTGAGEE WITHIN TEN DAYS NEXT P.fiER PAYMENi, and in the event that ahy thereof i• not
pald, sarisf~ed ano discharged sa'd PAORTGAGEE may at any time pay the aame or any part thereof without waiving or ~ffecting any option, lien, equity or
.iqht under or by virr~- of this mortgage and the fvll amoum of each and every such peyment :hall be immediately due end payable snd ih~ll bear inteteit
~rom the date thereo! unt~l paid ar rate of tight per centum per annum and tagether w~th tuch interest shall be setured by the lien af th:• morgta9e.
3. To pl~u ~nd continvo~sly kesp on tM buitdings now or h~nafttr fitu~is on ~~id I~nd ~nd on all ~quipm~nt ~nd penon~lfy cowr~d by th1~ mort~
p~, with •II pr~miums thtreo~ paid in fuit, fir~ inauranct in tM wual standard policy fo~m, in • tum ~pprovsd by tt» MORTGAGEE, and winditwm
Insvr~np In the ususl atarxiard policy form, In i sum •pprov~d by !he MORTGAGEE, in •uch company w companies a tFr h1QRTGAGEE may
direct; and •tl fin and windstorm inturonca ptrl~cia+ o~ •ny of ~eid buiidinq~, ~ny interest therein or pirt thereof, in thr aq~nq~ts wrn r#otfssid or
~n rxctfs ?Mreof, sh~11 cont~in the usual ~t~nderd mortyaqeo clavre or wch oth~r clwse as the Mwty~yp may r~quir~, makinq tM loa und~r s~id polb
civs, each tnd ~v~ry, peyeble :o •e~d MORTGAGEE as its interett may •pp~~r, •nd each and avsry tuch policy ~h~ll b~ promptly ~ss~qned •nd deJivtr~d ro
•ny h~td by wid MORTGAGEE is further tecurity to wid mor*QiQe dcbt, and, not I~s~ th~n ten {~0) dsy~ in advartce ot tht expir~tio~ of a~ch policy, to de-
liver to s~id MORTGAGEF. a renewal thereof, toqather with ~ raceipt for the premium of fuch rsn~w~l; •nd th~re tfiall be no fire or winditorm in~uroncs
pl+ted on ~~y of said buildinfli, any interest therein or part thereof, unlesi in the form and w~th th~ iosc payablr a~ efareso3d; snd In tM ev~nt any ~um
of money y~cpme~ psyable under tucfi pa!!cy or policies rteid MORTGAGEE shall have the option to receivs and epply the samf oa~ account pf the indebted~
nau ~ecur~d heroby or to permit sa.id MORTGAGORS to receiva and use Et or any pbrt thereof for other purposes, without thereby waiving or impair-
trq ~ny ~quity, ti~n or right unda~ w by virtus of this morrQege; •nd in the event ~aid MORTGAG~RS thall for any reeson fail to keep th~ said premise~ sa
tnsurod, w feil to deliver promptly any of said pol;cie~ of insursncs to ~aid MORTGAGEE, or fail promptly to pay fully sny premium therefor or in sny
rarpect fail ro perform, discherpo, execute, effect, canplete, comply with and +bide by this covensnT, or any part hereof, ~sid MORTGAGEE may pl~ce end
pay for iuch Insurenc~ or any part theraof without waiving or affediny •ny option, ii~n, equi;y, or right under or by virtue of thii Mortyay~, and th~
tull ~mount of each •nd every tuth payment •hali bt immediately due and payebte and thal~ baar interest from the date thereof until paid ~f the iete of
nins pe~ centum per annum and together with s~ch intereat shall be sewred 6y the lien of thi~ mortgsqe.
4. To permit, tommit or suffor no wsste, impairment or deterioration of said property or any p~N thereoF.
5. Tp pay all and singular the costa, tharges and expenses, including e reesonebte sttorney's fee end costs of ebstrscta of title, incurred ot paid a1
~ny !ime by ~aid MORTGAGE@, beca~se or in the event of the failure on the pert of the ~aid MORTGAGt7R to duty, pramptly rnd fully pe~form, diuherqa,
~x~cut~, effet~, complese, comply w;th and ablde by each end ever~ the ~tip~lation~, sgreements, conditian, end covenants of ~aid promissor~ note •nd tfiit
mortysye sny or either, end said tosts, chargas and expense~, each snd evsry, shall be immediaT~ly dve and peyabtt; whether or not there b~ nptice de~
mend, attempr to collect or auif pend;ng; nnd the full amount of aecfi and every •ush payment shall bear in!ere~t from tfie date theroof until paid the
rate of nine per cenrum per annum; ar,d ell said cesta, charqes ar.d expentes irKurrad a paid, toqether with such intarett, •hall be ~ecured by the lien of thie
ntOrtpaye. . .
6. That (e? in the event of any breach of thia Nwrtg~pe or default on the part of the MORTGAGOR, or (b) in ths event eny of taid ~um~ of money
Fkr~fn rmferrect to be not promptly and f~lly paid within thirty (30j days nezt after the Yame feverslly become due end payable, without demrnd or notiee,
o+ {c) in tM event e~ch arscf every the stipulationt, ayreement~, co~drriorti and covenanss of sald prorniswry note end thie mortgaqe any ar •ither ~rt na1
~uly, promp?ly •nd futly p~rformed, d;tcharged, axecuted, ef~ectad, completed, complird with and ebided by, then i~ eithar or •ny suth evRnt ths sai~' ~p~
preflat~ sum mentioned In tsid promiiior~ note then remaining urpaid, witfi interest ec^.rusd, ?rxi afl mansy~ secur~d hereby, ahall butoma dw ~nd pay~
~blt fonhwlth, a thereefter, et the opfion of saed MURTGAGEE, •s fully and complttely st if a!I of the seid ~ums of money were or:yinally stipulafed
ro b+ pa;d on such day, any~hing in :e~d promiaory note w in thit Mortyege to the contrsry novwithatanciinq; and therevpon or therea+her el t~ nptian of
ssid MORTGAGEE, v~ithout notica or demand, suit at lew or in equiry, tharefor~ or ihere~fttr bpun, mey be prosecuted at if •II moneyl ~ecured f»reby
had mstured prior to its imritutio~-
7. Th~t In the mvent that at the beginning of ar at sny time pending sny tuit upon this Mongeye, or to fo~ecloa~ it, or to reform it, or to enforq
payment of any claim` herevnder, uid MOl2TGAGEE :hell spply to tha Cours having juri~diction thereaf for the appointment of ~ Receivsr, tuch tour9 sholl
Forthwith sppoint a receiver of said mortyeged aropa~ty sli •nd ~tngulsr, includmg sll and ~inyul~r the income, pro'fitt, l~suss end revenuef from wh~tev~r
iourte derived, eaeh end every ~f which, it being expre~sly understood, is hereby mortgaged as if specificalty :et forth A+1~ dfKflbQd in !he Q?antinQ snd
habsndum tle~scs hereof, snd aush Receiver ~hell have all the broad end effective funct;ons and powen in anywise entr~st~d by • Court to a ReceivN, and
wch appointment :hsll be macle by such Court a• en admitted equity and a matt~rr of sbialute right to seid MORTGAGEE, en~: without r~fennti to th~
~dequacy ar i^sdequacy of the vatue ef the propert~ menflaged or to the solvsncy or insolventy of said MORTGAGOR w ihe defendanh, •nd Ihrt avch
rant~, profin, income, iuues •nd revenuea •hal! be applied by ~uch Receiver ~ccordinfl to tht li~n or eqvity of said MORIGAGEE and th~ p~attita of such
Covrt.
S. To duty, prampt(y snd fulfy perform, d%:charge, execvte, effert, ccmplete, comply wit'~ snd ebid~ by eech arn! wery the •tipul~tion~, a~qre~r»entf,
conditkrru snd tov~nts in uid promissory nota And this rnortpaq• ~e! forth.
9. T'nat in tho event Vhe ownership of the mor4gagad premises, or any part trxrsof, betomet vested i~ a perwn other than tM MORTGAGOR, th~
MORTGAGEE, Ite tucceuon end atsigns, may, ~,~vithout notice tu tha MORTGAOR, deal wi4h iuch ~utceuor or •vcce~sar in interea4 w+th referente ta tfii~
m~tpa~ •nd th~ debt hereby secured in the ~eme mannar ~t with .'Nortgayor withovt in ar,y way vitiatinq w~d~schsrying the Mortgagors' liabiliry Mrt
und~r w u,~on the debt hnreby setured. No sele of the premius hereby mort9ayed and no forbeerante on the peri of th~ MORTGAGEf or itt ~ucu~sor~
q~uiqrts ~nd no ~xtsna;on of tbe time for ths peymem of tht debt heroby aacured giv~n by the MORTGAGEE or ih sucu~wn w ss~i9ns, ah~l! op~rat~
b nlfw, discMr'p~, mod'+fy chinye w~ffstt tM oripinal liabilisy of tM AAORTGAGOR henin, ~itMr i~ whol~ a tn part.
10. !t i~ specifiutly ~greed shat tima is of th~ euenct ef thi~ aonhec~ ar.d that no waiver of any obl~~~tivn Mr~uncier or of th+ obftgst}on w•
cvr~d I~roby ~hal~ •t any tim~ thereatter bs hald fo br ~ walver of ttw terms herwf a of the in~trument ~acured herby.
11. In sdditiosi ro thn foreyoing manthly payme~ts of princ pel and ir.terest roGuireci by the promi~sory note secvred hereby, matgaflor cownonh
•rsd aQrs~s to pay to mortqaqes wieh each monthly peyment •n addition~~ tum estimated by mortgcgee to ba eqval to 1/12 of tht annuaf cast af tM fotlnw-
~W~
I+-AI! rs+l propsrty t~xes Isvie~ ar aase:sed a~aimt the above deacribcd real rstat~.
6-Premiums on firo •nd winc~storm insurance herein raq~irtd to bs carr(ed o~ the improvem~ate ~ituate on the sbcrve deiu{bed pr~mitst.
C~-Pr~miurrn on wch mortyage quaranty inwranca as mortflayt~ ~hafl fTOm tirrk to tima deem fit to carry on fi» ban ~ecur~d hfrtby.
Nka~tflapee shsiS from time to tirne notffy marty~yor in wririny of tht •moc;nt due end peyable hereunder ~nd such sum shall thef~vpon b~ dw a~d
payabl~ on tM dw date of th~ n~xt momhly payment and ~ach ivccesiiva mohth thereafter unti! mortqoge~e shell rwtify mortq~gor of a char+p~ in ~uch
amxint. Suth wms ~hr~f bo epplie~d by mortgsye~ towsrd t~ p~yment of r~al proparty tax~ti, insur~nc~ prsrniums, u+d mortQep~ qwf~nty i~vrinca
promiwns.
!N WRNESS WHEREOf th* ~aid MORTGAGOR ha~ herounto u~t hia hand and ies) th~ day and y~~r fint •fov~esi~d.
Siq S~alad ~nd d ~d fn ti» prr~nu of:
n
F,~~4X ~t~_~. ~ V~ ' !1'b? ~