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Home My WebLink About0884 1 1 ~ ! of the Mort~s~ee b~coan~ iaamediate4 due and p~a,Yable. witbout ~tice. utd Proaedln~s aW? be Wdltuted by t!w l[ort- ~ee ior tl~t rsoo~ve17! tlrereo[ Dy toreclauce d Ws Mottpi~. ot !a W otber manner p~t~dttec! b7 1aw as tbe Mort- ~aae~mt~ eleM. a~rthun~ is tbe note os in tAls Mcrt~ oontalnad to the ooatnrs tlher~w notwlt~adlnt. l7pon Lors- closure ot this MoK~aser t!k Mort~+~ a~aU Ds allow~ed as a p~e~t ot tl~e fadebtednas ~eeue~ad i~er~br. aad tAe Mort- ti~e ran~tax teask+n~to date ~ abatnct of dv~e ~ Ut~M po1~4: ~~O°~' in~s ~re setu~a becore uK roo~n.ac+n u~lnoc or tbe en~q? oc iual~aa~t w•+~ ~s aAa a~en.es ana och~ chr,r~es so incurred. facludins a reuoashle attorae7"a ise. s1u~11 nevertLelas M p~ld. Tbe ~[oetsa~ee or +W W~'t~ in in- terest. betn~ the hf~hest Wdder, ms7? be a Purchases at ~ forscloa?re s~le. Aqp electlon b~ tLe Mo:t~ee ~s berela pro- vided !ar me4y be exerel~M 1m~nediate~ apoa detault~ or at W rime tbere~iter. ~nd notNn~ sDW be oondnied w be a ~vdver oi such rt~ht ualess evlaenoed by aa 7nstivnnent !n wdtin~ to tbat eQect duqr ezecuted by the idortta8ee. The Mort~a~or walves all ii~ht ot hoa?este~ ~nd exe~nptton p~anted by the ORnstttutioa and I.avrs ot FlarkL. AND THE MOB'PGAGOR FURTHTsR CONVEN/1N18 AND AGRB~: 1. 1b pay the prindpal indebtedaess witl~ latera~t as ia the note Provtded. Zb pp? inoaWl unta the Mortgagee. in additloa to and at the tlme aad pLoe for e~ch psyment ot pitadpal a.~d intereri, an installment at a~h oi tAe lollow- 1nY chsrges: (a) Taxes aad a~estn?ents. ~eneral or special. ana all other char~es lrvkd or to be levled aYalnst tM Premt~es. (b) Premtums to become due and ptyable ior. and to reaew. tAe insurana a? the preati~a a~alnst loss eY Sre ewd auch other 1u~ids. casutltlRS_aud ooaUa~enda as Mrdn -prnvtded_.ior or nequfred imm tla~e to tlme. The amount of the respectlve moaW1Y lndalle~ents shall be equal to the amo~at oi the anuual reapectlve c6ar~e aext due (as atirnated by tAe MuT'tS~). len all 1nst~lln~euts alreadY P~ tderefor. divided by tbe number o[ manWY ia- stallmeats Wtrefor becomin~ due not Lter than one month prbr to tl~e due date oi W sueh c1~rQe and sbW be sub- jeM to increase or decrease to the extent re9ulred to crse?te es ot a moatl~? psyment date aa tue note not less than oae j month prlor to the due dste ot any auch charge. sn aiB~~. ~~le~ L9r the p~ymenc thereot whe~ dua and payable. i In no eveat shall the Mottgagee recetvln8 sud? PqY~~t be~k for any intetrst on anY amount pald to it as herda ~uy.~a. aQa c~ ~ey so ~~~a ~ be be~a ~w te own funds P~~B PaYment or appUcatlon thereof es heretn provided: The Mortgagor shsll furnls~ unto the MurtaaSee at lesst StteeA d~ys before the due dste an oII1cW statement oi tue smount oi anY taxes or asses~aents neut duG and such MortgaYee sbW pq? the abmro eharges W tAe amount ot the then unused credit therefor as and whea they bccome severalV due and pq?aDle. The MoriSagee maY. at its opUon. . p~y, u~y oi a~cb charges wt?en payable. dther beiore or atter they are delinquen~ wlthout notke. oz• make advsaces therefor in e~cceas ot the then aa~ount oi credit for ssW char8es. TLe esoeas aaaunt advanced sl~all be inainedlatelY due and payable to the MortgpBee and shall be secured uE an additional prindp~l sum wrder thts instruma~t aad beat tLe same rate of lnteres! irom date oi advancement as the prtncipal lnaebtedneas. M oIIlclal reeeipt therefor ahall be conclusive evidence of such psYment and of tAe valldity oi sach charges- The Mortgagee m4y spp~j? ci~edi4 held by it ior tbe above ~ charges. or any part thereof. on acaount oi any delinquent instaIIments of princlpal or lnterest or any other psyments maturWB or due uader this lnstsument and the emouat of credit existing at any time shall be reduced by the amouat • thereoi paid or applied as hereln provWed. The amount oi the existing credit hereuoder at tbe tlme oi an~ trander of tne ~ Property shall wiWont a~stgn~nent thereo! inure to the bene9t ci the succ~aor or?ner ot the praperty and st~all be applied ~ under and aub~ect to all ot the Pmvisions hereof. Upon the payment in full oi the indebtedneas, the amount of any ~ t~nu.xd credlt shall be app8ed W the payment WereoL ~ The Mortgagee may collect a"late charge° not Lo ezoeed four cents (ic) for each one doUar (i1.00) of each monthly ; f~stallment payment required on the note and under Ws Mortgage which is more than 8iteen (1S) dsys in arrears, to cover the extra exPense involved in handUnB delinquent paymenta. 2 To pay. when payable. aal taxcs and as~sments. general or apec3ai. water rents and ground renta and all other ~ charges whatsoever levied upon or as9essed or placed agednst the premises. Proviston for wAfch Das not been made here- ~ inbe=ore~ and wW prumptiy deIIver the ogicial receipts theretor to the Mortgsgee; to llkewLe pay all taxea, asse~nenta ; and other charges, levied upon or ass~ed. placed or made aga[nst thts lnstniment, or the indebtedness or any taterest oi the Mortgagee fn tLe premises or tAe obligations secured hereby. PmWded that the p~yment of any such tau a~ss- ment or charge by the Mortgagor fa not contrary to law or woutd not result In t6e psYment oi an unlawtul nte oi Inter- = est on tbe indebtedness Aereby secured. In the event oi the paasage after the date of this instn~ment oi any law oi the ~ State. or subdivlslon thereof, wherein the premises are situated, creaUag or pmviding for any tax, assessnent or charge - which by the above proviso fs not to be paid by the Mortgagor. the indebtedness secured h~reby together wlth interest due ! thereon, shall, at the opUon ot the Mortgsgee. become iminediately due and payable. and in the event payment tAere- oi b not ma~le lorthwfW. t6e Mortgagee maY take or cauae to be taken sucD actioa or proa~edinS as maY be taken hert- ; under fn the case o2 any other default in the payment oi the indebtedness- ~ 3. To keep the buildin~s and additiona thereto on or herea[ter erected or p4ced upor. the land insured sgainst loss ~ bq flre and such otT~er ha~u+ds, casualties and oontinBeIICtes, includiag war daroages ii at any time a state oi wu e~dsts or ~ lt appeara W the holder ot the note that war 1s immU?ent, and in such amounts and for such perbds. as maq? be req~lred I irom Wne to time by the Mortgagee. and to W?Y P~PUY when due all premtams on such Insurance. Provt~ion for pay- ment of which haa not been made hereinbefore: The potides oi inwrance shall I~ave laas pqyable provlsions aooeptable to . the Mortgagee and shW be delivered to and Leld by the Mortgagee. or as it msy d[rPC~ unUl tWs Morteage b satiafled. Renewal policies of Insurance. Dremlums for which have been fully paid. are :a be furnished to the Mortgagpe at least siteen daYs Drior Uo the expiration date o! the insurance tber~bp renewed. The inwranee shall be wrlttw ia oompanles ~ appmved by tY~e Mortgagee; In no event shall the Mortgagee be held respondWe for tailare to pay for an~y insuranoe : wrltten or for any lo6s or damag~ grovvin8 out of a defect in any policy or growing out o! any failure of aq~ iasurance i company to pe~y for any lass or ~amage (naured a8aiast. In tl?e evenR oi las the Mortgagor shall gtve lmmedlate notice by mail to the Mortgagee who may make proot ci toss i! not made promptlq by tLe Mortgagor; each insurance company conceraed is. hereby authorized and ~irected to make payment for lass direcUy to the Mortgagee inatead uf to the Mort- : gngor and ttie Mortgagee iointly: the lnsurance proceeds. or anY P~ ~Y ~ aPPUed by the Mortgagee, at its : option, to the expenses. [f anY. fneurred by it W the collectlon thereoi. to the reduction of the indebtedneas hereby se- _ cured. to the restoratlon or repair ot the Dropertp dsmaSed. or released to tLe Mortgagor without lfabll[ty npon tAe Mat- gagee for such release. All potides of in~rance are hereby essigned to the Mortgagee aa additional aecudty for tbe pay_ ment ot the sums and interest secured hereDy; in the event of forecloaure ot thb Mortgage or other trans[er o[ tiUo to the premL~es fn extinguWiment oi the indebtednes~. all right, tftle ai?d iaterest of the Mortgagor in and to anp lnwrance polides Wen in force shall paas to the purchaaer or grantee. ~ 4. To complete v~iWn a reasonabie Ume any bu[lding orbuildings now or at any time ia the prooess oi erectbn upoa ~ the land and•to P~PUY ~P~r. restore or rebuild any bulldWg or improvements now or hereatter on the Lnd which may become damaged or be dekro~yed, and not oommit or permlt to be done or add an ar al~out the prembes anytt~ing , wt~erebq the Qremtsa shsll beoome less valuable; to oomply with all laws. rules. regulaUons, or ordinat~as of aup gavern- ; mental agency and not v!olate or permit the violatlai aa W the premL~es oi any butlding ~ nse restrfctlous: to keep tbe ~ lai?d and improvemen*a thereon irPe irom mechanids and matedalraea's lieas and wlll not s~er aq~r Hen superlor to tht lten created bq thls .nstrument to attach to or be enforoed a8ainst tlie premises. 5. It default be made In tht payment of texes, a~nents, Hens. claims. insurance preminms or any other charge ~ w~ataoe~ver, or a~y part thereof, or in the pertormence ot aay act. to be paid or pedormed by the ldort~a~or under the prcvWons hereo~t. the Mortgagee msy. at its option, ma1~e pe~ya~ent Weseoi or p~torm aay ad reqnired o[ tDe Mortgsjor 1n any iorm or aunner deem~ed expedtent ~nd pay aa3? other sum Wst 4 aeoess~?r9 to protect tbe security ot tbts lnstru- ment: t~e aanounL s~ pdd. Rith lntee+est thereon irom tAe date M such PsYment at t6e ~me nte as boeae by the prin- dp~l lndebtednar, slull be assessed as an additfonal L~ on tLe preanises and :hall be added to and beootne a p~rt ~ tt~e iadebtedness secured hereby and be imtnediately due and payable to the Mortgagee. Anr pyrment hereb~ autlarfsM to be made bY ttie Mort~ee m~y be made aooordin8 ~+~AY b~11. ststement or esdmate turntthed or procured irom the appro- ~ P~k Publlc o~iae o~ tbe party cWa~inB WY~t without inqulry into the tocuraq or valldt~!' t6erea~ anQ the reoeipt a` ~ any Pnblic o~loer or p~rt;r in the bands of tbe Mo~tga~ee shall be oooclusive rvtdenoe ot the valid(t~ aad aawuut at iteao~ s so P~id: the Hort~a~ee s6a11. at !ts optloe. be subrogated to any mcumbrance. 1fen. c1aLn oe demand~ aad to all the rl~bb ° aad eeturitta fa~ tbe payaient thereo~ Pdd or dtschargM wlth tbe PtlnciPal sum ~ecured 'rerebp or by tbe f[act~ee £ ~ unaer tUe Ps'o'vWoos Lereo~ and an7 wch subro~atlos ri~bts N~11 be addttiwiai and cnmuLtivt ~tcutity to tbls Dlort- ~ ~ ~ 600K ~5t7 PACE ~O~ ~ r ~A~ ~ ~ = - ~ _ _ -~_4 ~m