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Home My WebLink About0324 slati~?~: the uu?~unt of tE~r ~IrtirlE•~~c~', ahi~h n.?tica ~ua~ :?P Ki~'ru b~ i«xil. li ut anv !in~a tt~a ~lort~ey,vr st~a~l ten~lrr to *.he \l~rt~:a~;e~ in uccura;~n~~e ~vi:h ttee' pr~~-i~oi~s of ti?e note s.~rur~~ hrrNb}, full ps)~ue:?1 ot the Nutire in~ictt~~.lue~ rN},r~~~~•nte~! th~•rrl,v, tlie \iort~x~ee +~.s tnistc~ stiall, in ~hci~putin~ tl~e a~nount ot such inJebt.~lur~, ere.lit to the Nccuuut uf the ~I~rt~?e~r e~ny credit bxianrP ren?aiuing under tt~e prn~•isiuas ~~f (u) ot u?i~. pxrxgraNt? 2. 1[ tt~rr.~ sh~ll tx~ a~ietau~t umlrr an~ o( the pro~'i~iut~s~ oi tliis nsort~u~;e re~ultir.g i~e u Ex~t?lic snle uf the pr~•n~i.rs ~~~'erc~l 1,~~rrb~•, or i( the ~lort~;N~;ee N~~quin~ t?ie prop~~ty otherwi~+ after d~~fautt, ttie ~1ort~:u~;~~• n+ ~ru.tEK• ~hul! xppl~•, at the titnr o! the i~ouii:~rn~'t`ltlPlli OI ~u~ h procee~iiei~ or at the tiniP thc~ propt•rt~ is ~tL•~~rN~i~e nry~iired, th~ a~i~uunt thc~n r~n?xi~~inr to r~edit ot \tortKa~or undrr ot parnrraph '2 prc~~~lin~ n.g k cr:vlit ~~n ihe ini.-~rst a~•~•urc~l n~~d unpuid ,?nd the t~aluncr to the prineipal the~ rt~~uai~iin~ unpuid on ~i~l n~te. 4. Ha will p?y all ts~es. aaeeesmente. water rstes, aad otDet ~overnmentsl or muaicipal ahe~rges, 6an~. or impositions, for which pronaion haa not been made Aereinbefose~ and in ciefault thereof the Mortgag~eo meky pay the e~ane; and that M will promptly deliver the o8'icial reoeipte therefor to the Mortgagee. b. Iie will permit, oommit, or auSer no wagte, impairment, or deterioratioa of eaid Froperiy os any psrt thereoi ea~cept reaeonable weac snd tear; snd in the event of the fsilure of the biortgagor to keep the buildin~ on asit~ premieea and thoee to be erected on eaid premieea or improvemente thereon, in good repair, the :Liortgagee nnsy make euch repsirs ae in ite diecretion it msy deem neoeeeary for the proper preservation thereof, and the full amounE of esoh und every euch psyment ehall be due snd psyabM thirty (30) d~ys sfter demand, and shall be eecured by the lien of this mortgage. 8. He will psy ell and aingular the ooeta. cbargea, snd expeneea, includiag reaeonable lswyer's ieee, and ooets of abetn?cta of title, in~urred ar paid at aay time by tbe Mortgsgee becauee of the failure on the part of the Mortgagor prompt~y and fully to petform the a~reemente and oovenants of eaid promise~ry note end thia mortgage. snd ae~id oosta, charges, s,nd ~peneee shall be immediately due and psyt?ble and ahall be eecured by the lien of this anortgsge. 7. He will oon'anuous~y msintain hazerd ineurance, of euch type or typee and amounta a4 Mortgagee msJ from time to time require, on the impro~emente now or hereatter on esid premises and e.rcept when psyment tor all such premiums haa tLeretoiore been made under (s) of paragraph 2 hereof he will pay promptly whea due any premiums therefor. All insuranoe ahall be carried in oompanies approve~ by 111ortgagee and the poli cieB snd renewals Wereo~ shall be beld by Mortgagee aud hsve attached thereto loea payable clsusee in favor of and in form acxeptable to the Mo . In event of losa he will Rive immediate notice by mail t,o Mortgagee, and Mortgagee may make.groof~ ii not ssde promptly hp Mortgagor~ and each insuranoe oompany eoncerned is hereby suthoriaed and directed to make payment for such losa directly to Mort,gegee instead oi to Mortgagor snd 1liortgagee jointly~ and the inaurance proceede, or aqy part Lhereof~ msy be app7ied by I?iorw ~agee at its option either to the reduction of the indebtednees hereby eecured or to the restoration or repair of the pmperty dsme~ed. In event of foreclosure of this mortgage or other tranafer oi title to the mortgsged property in e~ctingu~shment of the indebtednees eecured hereby, a~l right, title~ and intereet oi the Mortgagor la and to sqy inaw~snce policies theu in force ahall psss b tLe purcheser or grantee. 8. He v?i11 not eaecute or file of record any inatniment which :mposes a restriction upon the sale or occu- pancy of the property described he=ein on the basis of rsce. oolor, or creed. 9. If the premises, or an~~ part thereof, be condemned under t~he power of eminent domaia, or acquired for a public use, the damages awardeci, t_he proceeds for the tak:ng of, or the cor~sideration for such acqwsi- tion, to the extent of the full amount of thc remaining unpaid indeStedness secured by. this mortgage, are hereb~• a~signc~cl to the ~lortgagee, and his he:rs or a~agns, and shall be paid torthwith to said IVlortgagee or 1?is a~signee to be applied on account o[ the last maturing installinents of such indebtnesa; provided, how- E~~ er, thc ~Iortgagee or his assignce, ma~ at his discretion pay duect to the ;~tortgagor, his heirs or assigns an~• psrt or all of such aHarc3; pmvided, that if the loan is guaranteed ~r insured~ the consent of theguaran- tor or ~nsarer is obtained in advance of srud payment. 10. The ~lortgagee ma~ ~ at any time pending a suit upon this mortgape, appl~ to Lhe cou~ t ha~ in~ juris~iic- tion thereof for the appointment of a receiver~ and such court shall forthw~th appoint e receiver of the premises covered hereby all and singular, includin~ sll and singuiar the income, profits, issues, and revenues from ~shat- e~ er source derived~ esch and every of which~ it being expressly understood. is hereby mortgaged as if specifically set tort6 and described in the granting and hebendum c~auses hereof. Such appointmant shall be made by ~ such court as an admitted equity and a matter of absolute right to said ~lortgagee, and without relerence to the adequac} or inadequacy of the ~ alue ot the property mortgaged or to ihe sotven~y or insol~ ency of said Mortgagor or the defendants. Such rents, profits, income, issues~ and revennes shall be applied by such receiver according to the lien of this mortgage and the practice of such court. In the e~ent of eny defsult on the part of the ~iortgagor hereunder, the ~lortgagor aprees to pay to the ~iortgagee on demand ea a reasonable monthl~ ~ ren.al for the premises an amount at least equi~ elent W one-tw elfth (y,:) of the aggregate of the twelve monthl~ inatallments pay able in the then cunent year pius the actual emount of the annual tares, assessmeats~ vrater ~ rates, and insurance premiuma for such year not covered by the aforesaid monthly psyinents. ~ 11. In the e~ent of any bresch of this mortgeg~e or default on the pert of lhe ~lortgagor, or in the event thst any of said sums of money herein referred to be not prompdy and fully pE~d according to the tenor hereof, or in the event that each end e~ery the stipuletions, agreements, conditiuna, and co~enants of said note end ~ t6is mortgage, are not duly, promptly, and fully perEormed or if the ~iortgagor be edjudicated bankrupt or made defendaat in s bnnkruptcy or receiverahi~ proceedinga; then in eiiher or any such event, the said aggre- gate sum mentioned in said note then remainuig unpsid~ with interest accrued to that time, and ell mone~ secured hereby, sha:l become due and psyable forthw~th, or therestter, at the option of said ~1ortgagee, as fully and completels sa if all the said sums of money were originally stipulated to be paid on such day , an~ - thing m said nota or m t:~is mort~age to ~he contrar~? notwithstandmg; and thereupon or thereafter, at the option of said ~fortgagee, v~-ithout notice or demsnd, suit at law or in equity, mav be prosecuted as it all mone~ s secured hernby had matured prior to its institution. The ~iortgagee may foreclose this mortgage, as to the amount so declared due and psyable, end !he said premisea ahall be sold to satisfy and pay che same together ~ vrith costs expenses, and elloweaces. In case of partiel loreclosure of this mortgage, the mortgaged premises ahall be sofd sub~ect to the continuing lien of this mortga~e f~r the amount of the debt not then due and unpaid. ~ In such case the provisiona of this peragraph may agam be availed of thereafter from time to time by the biortgagee. ~ i2. No wai~er of anp covenant herein or of the obligation secured hereby sl~nll at any time tliereafter be ~ held to be s vraiver of the term9 hereof or of the no~e secured hereby. 13. The lien of this instrument shall remain in full force and etiect during any postponement or e~tension ~ ~ of the time of psyment of the indebtedness or any patt thereof secured hereby. ~ 14. 1'his mortgags is given to secure the purchase money, or a part thereof, of the lands herein described ~ and ie eaecuted aud delivered contemporaneously with the deed theretor. ~ ~ 15. If the :~fortgagor default in any of the covenants or agreements contnined herein~ or in said notP, then tLe Mortga~ee may perform the same, and all expenditures (includinq reasonable attorney's fees) made by the ~ ~ ~~artgagee in so domg shell draw interest• at the rate pro~ ided for in the principal indebtedness, and shall be repa- able thirty (30) dsys after demand, and, together with interest and coata accrued thereon, ahall be secured ap ~ bv ~ mortgage. ~ .~v 16. Upon the request of the ~iortgagee the ~iortgegor shall exe~cute and deliver a aupplementsl note or r"I ~ notea for the snm or sums advanced bq the ~iortgagee for tbe alteration, modernization, improvement, mnin- ~o ~ tenance, or repair of said premises, for taxes or asaessments agsinst the same nnd for any other purpose sutUor- ~ ized hereunder. Said note or notes shell be secured hereby on a parity w-ith and as fully as if tl~e adrance evidenced thereby were included in ihe note firat d~cribed above. Said supplemental note or notes shall bear ~ F = - ~'s~-,' ~`;z.~"' ~ ' s.~ ~ ~'~y . s ~ ' - ~ _ . ~ _ : _a__ . ,