HomeMy WebLinkAbout2065 teader ta the Mortgegee in sooordance with the provisioos of the ~ote ured hereb~ ,(ull paynien~ oI tl~e
entire indebtednees repr~ented thereby ~ the Mort~agesi p tsusteu, a4~1'~h. computing the awount ot such
indebtedaeso~ credit to the accwunt of t~he Mor~gagq~ ~nxc~idiL balanae'twdaiau~g under the provisions o(
ot eaid ph 2, lt there eh~ll be a default unddr any oI the pr~v~ione ot this mortga~c+ reaulting in s
public asl~the premises coverad hereb~, or it the Mortgsgee ~cquires t1~e propertp otherwise atter deiault,
the MortR~gee~ as trustee~ ah~?U spply~ ~t tha time ot the commenoement ot such proceedinga or at the time
the pmperty ~s otherwise acqui~rd~ the amount then repuinwg to credit o( Mortgagor under (a) o[ paragroph 2
preceding aB a credit on the interest accrued u?d napaid and tha balanca to the priacipal then ren~aintng unpsid
on ~ud no~e.
4. He wlll pay all ta?xes. aeeeeemenb. ws~+ee nie~. and otbe~~o
reenmen~l oe muaioiPal obai~. Ane~ oe
~P~~, fa wLlch provi~ion Las not been m~ie Lareinbefae, and in delaulL t~rereof t~hs Mo~ti~*~ee my? Pq? tbs
r~me; ~nd txu?t hs will pe~oanpt~j? dellva~ tbs o~cial reoeipts thee~etor ta Lb~ Moc~es.
b. He will petmil, oommil, o~ suHer no waste, impairmeal~ o~ dsksiastloa ot ~3d pe~opee~y ae ~n l6ei~eot
eocoepR reasonsbk wear snd t~ear• and in t~e eveat ot t6s faiturs of tbs Moe~or to koop ~b~~
on ~
pcemiees aad those to be ereeLe~ on eaid pe~emises, os impcovements lhereon. in `ood nPair
ma~e euch rep~its as in ita disoretion it m~y deeon neoeeeary for tbe pre~ervat~on ~ aad tba full aa~w~at ,
of e~ch and every ~ch p~ya~at a6a11 be due aad ~~~4Y ) ds~ att~ec ~a~nd, u~ ~all bs se~u+ed b~r
t6e liea d th~s anort~e.
6~ He will pyr all snd s~n6ular tbe oosts, ~A~, ~~n6 re~sooabb Lwyec's fee~, a~ad oab
ot ~betracta of title, inournd or paid ~?t aqy time by at~ee beoaoee ot tbs failure an tbe part oi tbs Mo~t~or
P~'omP~Y and iuL~? to peiforan the a~romn~nts and ooveamta af e~id pe+omie~y not~e aad thism~e, d e~d
~P~ ~1.be immedistsly due and p~,yabk and . ahsll be ~eoured b~? the llea of bis mort~e~.
7. Ae w~l oan~nuou~ msi~;~a~d menranoe, oi such ~yps or~jp~ ~ad amonnts ss Mortga~ee ma~
froin tima :~o time require, on the~nprove~nenta now or Lst~eatter on eaid _ and esoepC when p~ymeat
for ~11 such premiums has tLeretof6ra been made nnder (a oi psrag~~h 2 hereui wiU p~ promp~y when
due ~~u+emiums thort~for. All insuraaos ahall be ~ ia oomPw~es aPPruve~ by Iliartgagree and tbe poli-
cies and repewab thez+euf shall.be held by Mortgages aad have att~ched tLereto loes payable cU~uses in favor of
and in fornd a~oept~ble to_the 11~ In event oi bes Le will gi~e immedist~e notioe by mW to Martgagee,
op
and Mort~agee my make~ pmo! o if aot msde promptl~ by Mortgagor, 4nd eacL insuranoe compaql
c~noerned ~s bsreb wthoriaed ~d directed to make pa~aneat for such bes~~y to M mstead of
to Moitgagur ~ad ~ortgag~ee 'oin , and the i~uraaoe prooeeds, or w,~ part thereof may be~•by Mor~
w
gagee ati ita optaon either to ~e ucttu~on of the indebtednees bereb~ seaured or to t~e restont~oa or repair of
t~he propertj dama~ed. In event of fot~eclosure of thia mo~~, or other tranafer oi t~itle to tLe mortgsged
property in eztingu~ahment of t6e indebtednees eecured Lereby, all right, title, snd interest oi the Mortgag~or
m and to aay i~uranoe policies Wen in foroe ehall p~ss t~o tLe purchseer or gi~antee.
8. Ii the pre~nises, or an~ pa~t thereot, be condemned under the power ot eminent domain, or ac4uired tor
a publie use~ the da~nagea awarded, tl~e proceecis for the taking ot~ or the consideration for sucl~ ecqutsition, t.o
the extent of the full amount ot the remaining unpaid indebtednc+sa se.cured by thia mortga~+, ans hereb~
assigned to the Mortgagee, and hia heirs or assigns~ and shall be paid forthwith to said Mortgagc~ or his
ee to be applied on account of the last ~naturing intsllments of such indebtedness; provide~l, however,
th~ortgagee or h~s sesi~nee, may at his discre6ion ps~ direct to t)ie Mortgagor~ lus heus or assigns any part
or all o[ such swud; provided, that d the loan ia guaranteed or inawed, the consent ot the guaranLor or insurer
is obtained in advance of said paymen~.
9. The Morf~ee msy, at any t~me peadin6 a arit upon tl~ mort~e, spply fo the ootut hsvin~ jneisdio~on
the~eof for the sppointment ef s receiver, aad such oourt ehall fortbwith sppoint a reeeivec af the premiees eovez~ed
herebq all add ain6ular, invudina sll and singular the inoome, PenGts. iee~es, and reveaues fra~n wLateverr eouroe
de~iyed, eaeh aad everp of w6icl~, it bemg eacpreeaty ~mde~ood, is bereby mort~~ed as if apec;iscvly set forth aad
deeeribed in the ~anting snd habeadum elsuees he~teof. BueLsppo~at~eat ehaU be made by anc~ oaut as an admitted
equity ~ad ~ mstt~ ~ abeotute ri~t to ~d Mart~s~ee, aad without refm~eaoe to the adeqw~oy or Inadequacy of
tbe v~lne d the property mor~ed ae to t6e ~dveaay or insotv~c~r ot eaid Mort~aoe o~ tbe defeadants. Such
, renta, P~+o6ts. iaoome, ~ie0. and reveaues ebaU be ap~'ed by euo6 reeeivec a~oeoedias t~ !he tiea uf t~his mort~e
i aud the p~actioe of sucL oourk Io the ev~t af aay ddwlt on the of t6e Ma~t~or Lereundee, t6e M
~ a~+ees to pay to the M. on demaad as s reasonable m~t~rental for tbe p~mises aa am~mt ~
l equivaleat to ono-tw~etit6 s) d theag~a ~ the twelve monthly i~tsllmeats p~yyabie in tLe th~ eurreat
ye,~ar Pins the a~ctuai amount of the annual ta?~, aaeeee~eats, wate: rates, and ineuianoe pR~emi~s fa~ e~ch year
not eovered by tLe dotesaid moatbly? P~Y~~
10. In the eveat of any breacf
~ at this mort~ae o~ default on the paet of the Mort~or, ar in tLe eveat that
sny of said anme ~ money h~a t+eierred to be n~ prompttq and fully a,ouordu~g to the teaor hereof, or in t6a
ev~t tLst eaeh and ov~y t6e etiPulstions? a~reemente, oonditions, ~veaaats of aaid ~ts and thie mort~e,
~ ~~~Y, P'~'omP~Y, ~~9 P~orared; thea in either or aa3? such event, the aaid sg~reg~te aum mentioned
in eaid note thea ienuainina unpaid, witL inter~st aocnied to thst time, and ~Il mo~ya eecurad he~+eby, ebsU beoome
dae and psyable forthwit6, oc thereafter, st the option d said Mort~~ee, as fully aad oo~npie~dy as if a1l of t6e
eaid eums at money wae ori~oaUy atipWsted to be paid on weh dt~y, aayLhina~ia eaid note or in t6is mortg~e to
tbe oontrary notwit6standins; aad thereupon or theresfter, st the optioa d stid Mortg~ee, without notioe a~r
demaud, suit at law or in e9~7, msy be proBecuted ae if all moneys securei he~eby hsd mstured pzi~ to ita insFitu-
tion. TLe Mortdsgee may forecloee this mortg~ge, as to the amouat so de~.lared due aad psyabk, and the ~id ~
prem~e ahsri be sold to estidy and psy d,e same to~ether ..~th eoste, e~pea~ea, ,~nd allo~vaneee. In caee of psrt~ial
for~c3os~ue of this mort~e, the mort~ged pr~misee ehail be sold subject to the oontinuing liea of this mort;e~e j
for tLe amount d tbe debt nd tben dne sad unpaid. In suc6 case the p~nvieions of tbis para~rsph msy again be
svailed of t~reafter from time to time by tbe Mort~ee,. r-.~:~•, ~ ;
~ .
11. No waiver ot u~y a~veaaat herein or d tbe oWidstio~ eecured hereby a6aU st any time t~reafter be hdd i
to be s waiver af the tern~ Leeeof or of't6e note seeured Lerehy. .
12. Tbe lie~ of t~ ~mo~t aball r~main ia fnIl foroe mcl eHeet durin6 ~Y P~~nenuent or eite~ion af i
the tinme af paymeat af the indebtedneee oe any part thereof seau+ed haeby.
13. If the Mo~t~,as~or defwk m anqr d tbe oovcnaata or a~eats oontained he~ein~ or in said note, tLea tLe
M~~~ ~Y P~ ~ d~, aad iH e~eoditures (includin6 rasom~ble sttorney's fees) made by the Mortp~ee
m ao do~"ng ehall d»w inte~+eet st the rate~+ovide~ for in the principal indebtedneas, and shall be repsyable
~
y(~0) da~rs ~fter demand, and, together with int~erest aad oosts accrued thereon, ahaU be secured by
a~ort~aga
14. Upon the requeet of the Mortgagee t6e Mo~r shall esecute a~d deliver s supplemental note or
notea for tbe sum or suma sdvanced by the Mortgag~s or the alterstan, modernisat,ion, improvement, main-
t~enance, or npair of esid premisea, for taxes or aaeeasments ag~inst the same and for any other pnrpose suthor-
i~d herennder. 3aid note or notRS ahsll be secured hereby on a parity ~vith and as fully as if the advanee
evidenced tbenby w~+e included in the note 6ret deecribed sbove. Said sup plemenW note or notes shaU bear
intenst a~ t,h~+ rate pmvic~ed for in tLe principal indebtednees aad aLa11 bepa
ysble in prozimstely equd
montLly payments for ancL period as may be ~greed upon by the cceditor and debtor. Fa~ t~o age+ee on ths
maWntjt, we wiale of the sum or sums e~ advaaced ehall bs due and payable thirty (30) days dter demand
b~ the creditot. In no eoanti shall the msturity e=t~end beyoad the ultiu~ate mstung oi the nats first
da~cribed ~bove.
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