The URL can be used to link to this page

Home My WebLink About2047 airl shuli July ~~rforn~. con?ply wilh u~Nl abid~• by ~•:u~h um) rve~y the a/i{wlutiw~r. ~ro~xlilions. srid eovenanta ot s+tid W'un?iasorY notr and of U?is mort~.~e. ihen thia nwNl::yte anJ t!?r est,de herrby croatnl ahall texae urd be oull and void. It is und~rsta~d tlwt the won! "murtgu~.rors." whclhe~ in thc ainRulu or plutal en~rwbere iti this mort~s~e. ah~ll be singular if one only and ahnll be plur~l join!!y urwl srvenlly it mae tliaa Me. and U~at the word "their" iu osed anywhere in this mortSage ahall be 4?ken to mc~n his. I~er or ifa. wherever the ca~text so impiies or ~dmifa. And the Mortgagora hereby jointly and severally oovenant and ugree to and with the MortQagee: 1. To pay aU and singular the principal and intereat wnd the various and ~ aums a~ moaey p~yaDle Dy virtus ot said promisaorY rwte aod t!w mortgs~e. each and every. PromPtly ot~ the days reapective y the asine severally become dua'11~e Mortgugee may ooUeet s"late cAar~r not to exceed un amounteq ual to two per centum (2%) of any instsllment ot fhe note hereb~r aecured which is not paid w~thin fiiteco (15) days afte~ the due date thereoi fo eover the rxtra expense i~volved in handlu?g delinquent payments. , 2. To pay whea due and without requiri an~r ~otice from Mortqaaee aU and sinsular the taxca. aeseasmenls.levia. oblisstions ud incumbrances ot every nature anr~ind now on ssid deacribed property! ar?d/or that hereatter nuy be inr posed. suttered. placed, levied or osa~seil ther~wpoo. and/or tlwt hcreatter may be levied or aaseased upon Wis taortga~e and/or the indebtedaess sei.wred hereby. each and overys und ineatar as sr~y lhereof is of ~+ecord tho same a.~all be praaptlr aatisfied and diacharged o[ reto~+d and the ariginal ofrctal document (snch for iastar~ce. the taz receipi or tbe astisfaction p~per otrcially endorsed or certitied) ahall be placed i~ the hands of said ~dortqa~e within td? dari next after psyment, 3. To keep the impmvements now existing or hereatter erected on the mortgaged pmperty. and the equipment and _ ; Dereonalty covered by thia Mottgage, insured as may be cequired [tan time to time by the Mortgagee a~gainst loas by firs. ex- tended coverage and such other haurds. casualties and conhn~encies as muy be required by Mortgagee and a?ill pay pmmptly. ! when due. any premiums on such ingurance. All insuiance ahall be in form und amounts s~at~sfactory to, and in insurunce eom- pnniea appmved by the 1Sortgngee. and the policies and renewals thereof shall be heW by Mortqsgee and have attached thereto lags puys?ble clauses in lavor of and in form acceptable to the 1~ortgaqee. In event of losa the D[ortgagors will give immediate t?otice by mail to Mortgagee. and Nortgagee may make proof of loas if not made prnmptly by Mortgagois. ar?d eaeh insurance rnmpany coneerned ia hereby authoriud and directed to make payment for such lasa direetly to ~[ortgag~ee instead of to ltortgagors and ~ortgagee ~ointly~ ard the insurance proceeds. or any part thereof. may be app~ied by Mort~agee at its option either to the rrduction of the indebtedness hereby secured or to the restoration or repair of the pruperty damaged. Ia event ot foreclosore of this mortgage or other transter ot title Lo the mortga~ed pmperty in extinguishment of the indebtedness eecur+ed het+eby, dl rigt?f, title. and inter+est of the Mortgagon in to aay msurar?ce policies then in foree ahall pass W the pur- chaser or Rrantee. 4. To remove or demoliah no building on said premis~ witbout tAe written eonsent ot We Mortgagee; to permi~ com- mit or au[!er no waste. impairment or deterioration oi aaid pmperty or eny part thereof ud to keep the same and impmve- ments thereon in Rood condiLion and reptir. • 6. To pay aU ard aingular the ooate. chargee and e~cpenaes. indudinA reasonable lawyer'i fees. lavryer's disbursements and oost of abatracts of title, incurred or Qaid at any time by the l[ortgagee be~ause of the fs~lure on t]u part ot the Mortgs- sors to dul~ perform, comply wi~i? and Abide by each and every the atipulstions. eonditions and covenants of aaid Pmmiesoq? note and t!w mortgage. any or eitber. , 6. That in tlie event the Mortgagora f~il to pay or diacbarge said tasea. aasessmcnt~. liens and incumbranc~. or aaid costs. charges and e:pensea. or fail to keep said ~re~niaes insured or to deliver the policies~ premiumsd, d. eor isil to repair the aaid premisei, as herein agrced, tbe ldortgagee ~s heteby authorised at ita election to psy and/ar aaid tazes. a~- meats. Uens and incambreneea or any part tbereoi~ to pay aaid coets. charges and expenaes. to prucure and pay for saeh u?- wrance or to make and pay for wch repai~s. without any obligation on its part to determine the velidity or necessity of at~y thereof ard withwit the l~ortgagee waiving or atfecting anY option. lien, equity or right ut~der or by viitve of this mortgage; ud the full amount of eaeh and every s~ch payment ahall be immediately due ud payable and ahall bear intereat from the date thereof until paid at the rate of eight per eentumpe r annum, and, together with auch interest. shall be secured by the lien of this mortgage; but nof]~ing herein contained shall be construed aa requiting the Mortga~ee to rdvance or spend moneys for any of the purposes in this paragraph mer?tioned. 7. That (a) in the event ot any breach of this mortga~e or detault on thepart of the Mort~ago». or (b) in the event any of said sums of moaey herrin referred to be not pmmpUy and fully paid within fifteen daya ne:t dter ti~e same severally be- tane due ud payable. without demand or notiee, or (e) in the event each and every the stipulations. conditioiu and oovenanb j ot aaid Pmmisrory note and this mortgaae~ any or either. are not du17 Pertormed. complied with wd adided b; then, in either t or any aoch eveuk the ssid sggregate sum mentioned in aaid pmmiasory note then remaininB uT?WId. with ~terest aocrued. and all moneys secured henby. ahall beoome due and psyaWe forthwith, or thereatter. at We option o! eaid Mortgagee, as tully and completely as if ali of the said swns of money wene ori~inaily stipulated to bep~d on aach dsy. w~thing in said pmmia- torY note or in thia mor~ bo the contrary notwri . ard thereupon or thereafter~ at t2~e opho~ of the Mortgagee, Y : w+ithout notice or dema~d, suit at law or in eynity, thereto ore or thereafter begnn, may be praaecuted aa if all moneys ' ~eeured het+eb~ had matnred Arior to ib nutitut~on ~ 8. T6st it aay wit aball be instituted to foneelaae or reform thia mortqage and/or to enforce payment of any elailm here~nder, tbe Mo=tgagee ahall be entitled b apply at any time petdu'~g auch suit, to the Court hav~nQ juriadiction thereot for the appointment of a Receirer ot the mortgaged property ard oi all and aingular the rents, inoome. Froiita, issuea an~ revenu~ thereof imm rvhaterer so~nce derived, ea~L and every of which are exprea~ly mortgaged b~ tWs instivment; and I~ it is hereby ezpr~ea~ly oovenanted and agreed tLst therenpon sne~ Court shall forthwith sppoint a Reeetver of said mortgaged ~ P~Y. sad of al! andur~r the rents. i~ome. pmfita, iseup, ard revenuea thereof fmm wbstevar soui+ce derived. with the nwal Dowers and dutier of reeeiveis in lace caser and weh appointment ahall be made aa a matter of etriet right to the l[ortgag~ee, ud witbont referenoe to tbe adeq~acy or imdequac7 of the valne oi the pmperty bereby mortgaged. or to the iolveney or insolveiw.y a? the 1[ortsaaon. 9. That 1[ortgaao:s bereby aseign. transfer and aet over to 1[ortgagee, np to the amo~unt ~ the total indebtednw ~ecured hereby. sll awara~ of daina~es in connection wiW tbe coidemnatian of any ot said pmperty for pnblic uee or for i~ury to any part tbereo~. aid the pmeeeds oi ail snch awards. atter payment ot all rea~onable e:pensei incurred, ineludina fe~ for sltorneys repreaentit~ 1~~rtgaaee In aay pr+noeeding in whieh an~ auch sward is made. aball be paid to ldortgagee to be applied npan We iadebtedner henunder in sueb msoner as l~[o:tsagee may dact. t0. That time u a~ fbe wenoe ot this contract and no waiver of any oWigation hereunder or oi tbe obl~stion secured hereby aLall st an~ time tberntter be heW to be a waiver of the terms hereot or of tbe note iec~u+ed hereby. 11. Without atfectinr the Hability of any person (otber tban any person released puzsuant hereto) tor papment oi any indebtedness e~d hereb~, and without atfeeting tl~e priority or e:tent of the lien hereof upon any property not speci- fieally relea~ed pureuant hereto. Yortgagee maq at any time and tram time to time. witho~t notioe and wjthoat ltmitation as tu sn7 le~al right or priva7e~e of l~ortgasee: (a) Rele~ue any person liable tor payment ot any i~debtedne.~ iecured heneby: (b) L~tend the time or agree to alter the ternu of payment of any of tbe indebtednesa; (e) Accept additional aecurity of any kind; (d) Release any property •ecuring fhe indebtedness; (e) Coment to the ereation of any eaeement on or over the premises or any coveaanb reatrictinf[ t ose os occupaney thereof. 12. To duly pertorm, eomply with and abide b~ each and every !Le stipu4?tions, conditions and covensnta in said prnm- ~ iawry note and in this mortgage ~et fortb. - : ~ 13. As additional security the 1[ortgagors do l~ereby tra~er. aasign and set over to the said Mortgagee, its sueeea- wrs or sasigns, any and all rents now due. or to become due, on t1~e above deseribed premisea or any sepatate rental p~rmiie appurtenant thereto, which arr aituated on the land above described• auch rea4 to be eollected by or st the dinection ot the ; l[ortg~igee, its succeseots or aaniRas, and tbe net procee~ thereot to be applied to the indebtedneas hereinbefore secnred. as and ~ _rhen the aame shall become dne and psyabfe; and tor the purpose oi carrying wt thia pmvision the ltortgago:s do by these praenb; conatitnte ard appoint aaid l~ortgagee, or the auceessora or assiaas ot the aaid 1~ortgagee. as his, her or their tnu ; and lawtul attorney-in-tact, to eollect anY and a11 *enta tor said above de~cribed P~~~. ~p~ly sut]wrisinR the Yortga- ~ aee or i4 suceeseois or aesi~ to receipt tenanta therefor. and do by ihe~e presen4 ratify and confirm any and all acb of j said attorney-in-faet in relation to the toregoing power. ~owr Mo. s~a -a 600K ~ " ~~M• ' ~ ~ .~.._.~:.-,,..,a,_~ „w. 3,~1.. _ . ' . " '3u.'~;~',C~~ ~c~ ' _ _ ~ FJ