HomeMy WebLinkAbout0838 Ar10 SAIO MqtTC~AGOR does he~eby covenant w~ith tha Mortgagee that said
P1or4~agor, at the ti~+ie of execution and delive~y of these p~esants, is the
a'.soluta owne~ of and in possession of said mortgaged property= that he has s
good right, fuil pa~er and tawfui ~uti~ority to convey the saa~ in the manner
and fon~ herei~ set fo~thj that taid property is free and ctear of a11 liens of
~vhataver natu~e, except as specifically aiantioned herein, and Mortgagor fully
wa~rants the titie to said propertr and witl dsfend th~ samn against alt laM?ful
claims snd danands except.,f~aa the ~a~~anties contained in tha encun~brances
heroin-specifically set forth.
Ai~10 THE MORTGAGOR dxs he~eby further cavn~ant, p~anise a~d agree
with the Mortgagee, its successo~s and assigns, as follcws:
1. Mortgagor wi 11 not caa~ai t any r~aste, or ~veake~+ or impa~ ~ the
security of this awrtgagef ~~~i11 pay, prior to deiinquency, ell taxes and
assess~aents levied or imposed on sai d prope~ty; r~i t t keep tha nw~tgagad p~'cp~~ty
tnsured in wch n?rnnar and in such aa~ounts as Mortgagee mar roqui~ej and wt 11
not reawv~e any chatMls, if i~ctuded in this ~ortgage, f~an the pre~ises r+here
they are naN situated, without Mortgagee's wtitten consent.
2. In tho ev~snt of suit to foroctose this mo~tgage, Mortgegae shalt
be entittad, as a matter of ~ighl, Nithout regard to the vaiue of the mortgaged
prope~ty or to the sotvency af Mortgagoc, and Mithout ~otice, to tha appointment
of a Receiver of the mortgaged propertr and the incaae snd p~ofits thereof, as
welt ss psyenent of ail costs incurred, includ~r~g attor~ey~b~f~es.
3. In the event of Mortgago~~s faiture to psy taxes, or to keep the
p~emises insured as ~equ~rod, Mortgagea a~sr, at its option, but is ~ot Kquired
toymake such payiaents, and the wrns so advanced shati be repaid by Mortgagor
with inte~est as provided in tha "Obligaticn" and said sums so paid by the
Hortgagee sha11 be sacurad by tfiis aa~tgage. .
4. In the ev~e~t of any default i~ the terms of the "Obtigation"
or this na~tgage, Mortgagee may, at its option, declare the r+hote indebtedness
secured hareby to be immediateiy due and payable.
5. That no extension or modificatian of the payments af the '
~ indebte~ess, and no release of any p~rt or parts of tha nartgaged property,
~ or of other coilaterai securing the above dsscribed indebtedness, evan though
~ mada r,ithout consent of ihe Mo~tgagor, sha11 ~elerss, reiiev~s, or discharge
~ ths lbrtgagor fran the pay~ent of any sua~s heraby securod, and Mortgagea shall
~ have the right to reiease frar. ths lie~ hereof an~? portion or portions of the
~ aartgaged property, or other collateral held as security for said indebtedness,
i~respecttve of the value of the released po~tion, without affecting tha lien
hereof as to the port~on or portions not rstessed, notaithstanding the fact that
such ralease or relaasas may be aiade without kncwtedge or cansent of the Mortgagor
or~of any Grantae o~ Grantaes of portions of such prope~ty theretofore soid.
IN MIT~SS M~REOF, the Mortgagor has signed and sealed thes~ prasents
the dPy and yea~ f i rst above wri tten, ~~B~
Signed, sealed, and del ivered ~~a T~
i n t~e prese~~os of t
~
_ (SEAi
ISEAI ~
tness
gooK 144 . 236
~
_ - - _ _ - - - _ -
~