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Home My WebLink About0902 TO F1AVE A'JD TO HOL.D the premises unto sa~,. _ its s,~cce>.ars and iss!gns, f~rever, for the purposes, ar,c1 upon thc uics ar.d trusti here~n set fortir. IT i5 FUFTHER UNDER~TOOD AND AGREED TNAT: 1. Unt~l the ~ndcbtedness aforesa:d shail be fuliy paid, a~;J in case ef tne ta~lure ef the P~iort~;a9or, its successors or a~igns to make :~-~y payment or perform any of the atts as follows: lal prompHy repair, restore or rebuild any building; cr imprcvern~:-:t; n~w er h^reafter on thc premise; wh;ch may become damaged or be destroyed; ~b1 iceep said prem~ses ~n geod tondition and repair, withou; waste, and free from mechanic's or other liens or claims for lien not ex- pressly subordinated to the lien hereof; ic~ pay wher due any indebtedness wnich may be secured by a lien or cnarge on the premises superior to the lien hereof, and upon request exliibit satisfactory evidence of the disciiarge of such prior lien to Trustee or to holde.s of ihe note; (dl complete within a reasonabie time any bu~lding or build~^ys now or at any time in process of erection upon said premises; iel comply ~~~tn all requi;ements of law or mur~ic~pal ordinan~ei with respect to the premises and the use thereof; 1fl refra~~~ fr~rn makin~ material aRerations in said premises except as required by Iaw or municipal ordinance; ~g~ pay at least sixty (601 days before any penalty atta:~+es all genera! ta>.es, special taxes, ~pe~ial assessments, water ch~rges, sewer .erv~ce charges, an~ oti~er ~harges against the ~remises ~•.hen due, ~nd upon written ;eq~~es~, to fumish to ~Trustee or to holders cf the ncte duplicate receipts therefor; :f,) pay ;n fui! under protest in the manner provided by statute, any tax or assess:tier~ts ~+-:~~ich ~~Aortgagor ma~~ desire to contest; keeo a~l ~,ui~dings and improvements now or hereafter situated cn said premises insured ac~in>t luss or damage by fire, lightning and windstorr.~ under policies providing for payment by the insurance companies of monies sufficient either to pay th~e cost of replacing repairir.g the same or to pay in full the indebtedness setured hereby, aii in companies satisfactory to the ho?ders of the note, der ~r~~:rance policies payable, in case of loss or damage to, the hclder of the note, such rights to be evidenced by the standard morryage ;!ause to be attached to each policy, said insurance to be paid on the highest insurable value; and to delnrer all policies, including additionai and renewal policies, to holders of tne n~te, cnd in tase of insurance about to expire, to deliver renewal policies not less than ten days prior to the respective dates of exp~ration. I j i Tn~: h~!ders of the note may, but need not, make such payment or perform such act as set forth herein ~n any form and manner deemed expedient, and may dec~are the said note and mortgag~ in default and neverth~~less may, but need not, make full or partial ~a•,ments ef pr,ncipai or interest on prior encumbrances, if any, and purchase, discharge, compromise or settle any tax lien or otner pnor lien or title or claim thereof, or redeem from any tax sa!e er farfeiture affecting said premises or contesi any tax or asse>sment. AI! monies paid for any of the purpases herein authorized and a!1 expenses paid or incurred in connection therewith, inciuding attcrneys' fees, and any other monies advanted by Trustees or tF.: holders of the note to protect the mortgaged premises and the lien hereof, plus reasonable compensation to the 7ru_tes for esch mattcr conceming w~ich action herein authorized may be ra~.er., s~ali t?e so much addit:onal indebtedness secured tF:ereby and shall 6ecome immediate!y eu^ ar.d payable without notice ar.d with in'ero;t thereon at the rate of eight per cent per annum. InaCticn of I~olcers of ;he rete shall never be considered as a wai~er cf any r~ght accruing to them on a.count of any of t'r~e provisicns of ti~:i; para3r„pn. The hcl~crs ef the r.:,'e h~re~y secured m~'r.ing any payment i'ereby authorized relatirg to taxes or asses;+nents, may do so accord- i~ any biC, statement cr esclmate pre;.ured frem the apprepriate pubiic office without inquir~- ~nto the act:,rac•;~ of such oi!I, statem2nt cr _s'.:mate cr in;o the validity of am~ tax, a;sessm=n;, saie, forfeiture, tax lien or title or _~dim ..~~recf. 3. P.t the op±~on ef tne holder; of the note a~d ~tiith^ut noticc tc mortyagor, its succe~sors o~ a~s.gn>, ail ur.paid in~'~btedness szcured t~y tti~; mortgage shal!, n~twithstanding anyYhing in the note or in th~s mortgage to the contrary, beceme due and payable: i a} immed~ately in the case of default in making payment of any installm~rrt of pnnc+pal cr interest cn t'r~e note, er Ib~ in the ev°nt of the fa~lure of mortgasor, cr its successers or assigr.s to do any c,f ;h~ !hincs specificall~ set fortt~ in paragraph one nereof ard such defau+t shall cor.ti~,ue for ;hree days, said option tu be exerci;e:' ~~t anv tim= after the expiratien of said tnree day pericd, cr !c~ ir, the event ot the `ailure of the rrcrtg~,er, :;r its successors or assigns, to ;o tn~n5; spec~ficaliv set ferth in paragraph one hereof ar.d an; su:.n default sha'I cont~nue for 10 da. said eption may Ee exe~c se~ at : ry t~rr,e after expiration cf the said ten day period. -i. Vdhen the irdebte~ness i~.ereby secured shall beceme due, whether by acceleration er otnerw!se, the holders of the note shall have tne right ;o forec!cse the lien "~reof. In any suit to foreclose th~ lien nereof, there shall b~ ai!owed and included as additienai inciebtedness in the decree for sale all expenditures and exp=nses wnich may be pa!d or incurred by or en benalf of the merlgaGee or the hc!der of the nate for attorneys' feES, mortgagee's tees, apprais°r~s fees, outlays for doc~mentary and expert evide~ce, ster,ographers` charyes, puolication costs and co>ts (•.vhich re ,y he estimare~ as to items to ~e expended after entry of the decree 1 of pnccuring all suth abstracts ef title, title ~~a:ches and exa-:-. nat e;:;, with respect to title as tt7e mortgagez or the holders of the note may deem to be reasonably necessary either t~ ,,rosecute ~~it cr to ev dence to bid~ery at any sa~e which may be ha~ purs~;ar~t to ~uch decree the rrue cendition ef the t~tle te or rFe :ai:ie of the ~;cmises. Ail expenditures ar.d exp2rs=s of tFe nature ~n this par3gr~pn rnentiened shaii become so much additional indebted- nes, secured ~.erz'.-y and imrred~ately due and payable w~in interesi there~n at r:,e rate of eight per ccnt p~r arnum, wnen paid er incurred b; t1,e mortgag:~ cr the hoidars o' the r.ote in tonnec'ion •.vith ~a) any crcctedin~, including prebate and bankruatcy proceedin~;, to which either of them shaU L2 a eart~:, e~ther as plaintiff, claimant or ccjcr; s~;, s,y reason o' this mortgage or any indebte~nes. hereby ser.ured; or ibi preparat:,~r; for the cemmencement of an; su~t for the foreclcsure hereof after accrual of such ri~h? to forec!osure wi,ether or not ~ct~aliy comrnenced; cr cr•_; ;:ra; : ns for ?he defense of any thr2atened suit or prxeeding ~;~,ich migh! afiect the prem,se; or !~e =ecuritv tnereof, wne:her , a:rualiy tcmmenced. roceed; of any foreclosure ~ale of tne premises shall be distr~buted and ~pplied ir, the f~~Iov,•ing order of priority: rirst, cn :._=.~.;nt a~i and ex~enses incident to fhe fcrecfosure pr~ceedings, ir,cludir.~ a!I s.:ch i~nm; as ar~ m~ntiened in the p;e~eding para- ~.ap~ herecf; s?cen~, a!I o;her itert~s which u~,der the terms hereof constitute secured ird~btedr.ess additicral to that evidanced by the note, ~-ich ir*erest thereon as her-^~r provided; third, ail principal a^d interest rema;n,nq ; a-' on r~e note; fc:_~r;h, ar,y overpius to mortyagor, ir; legai representat~~es or assiqn~, as their rights rnay appear. Upon, er a; am; time after ;he filing oj a bil! to ferec!ose tFis mortgage, !ne c~::rt in xhich such bii! i; filed may appo{nt a re- c2 ver of said premises. Such aapo~ntment may be madz eith~r before or after sa!e, withcut noiice, withou* regard to the solvency er irLSO1- vency at tne t~me of appi:cati~n zor such receiver, of the person or persons, if any, liable '.or the pa;ment of th2 indebtednass secured hereby, an~ withour recdrd to tfi= then value of the premises or whether tne same shal~ te !hen occup:ed as a homestead cr rot and tha Trustee here- un:;er mov be ac.ointed as >u:h receiver. Su~h receiver ch311 have the ;+cv;er to coliect the rer.ts; iswe5 and profits c.` sa~d premises durng n~~~~.32 2~fi