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Home My WebLink About1059 the ~leficiency. Such pa•~ueut stiali be ~usde witl~in thirtt (~0) dsys,~fter vrritta~~t uotice irom the ~ioct~sgee stating the etnaunt ot t~e iieticiencv~ which notice may be givea by msil. If ~t sny time the ~iortgcgor aha~l tendet to the ~iortg~ee in acconlance a ith the provis~ons ot tha note $ecured hoteby~ full psytnent ot the enlire indebtedaees repreeented tl~creb~, the 4lortgagee ~s truatee sl~all, in oomputing the amount of t such indebtednas, crecti~ to the ac..ount of ttie ~1ort~x~or any credit bal~nce .eiusini~ under tha pr~vieions ; ot (a) of sai~paragraph 2. tf thsre sl~nll be • default under sny ot the pro~ isiona of ~is mortgaga resulting in s public sa el of the premises coverecl hereby~ or if t[?e ~iortgagee acquirns the proparty otherwise ~itst default, the ~tort~ee as trustee shall apply~ at the time of the comm~ncement ot such proceedings ot at the tune the property ~s othen?iae acquen~~ the aniount then remaining w eredit of ~iortgagor under {w) ot ; para~raph 2 preceding as a cred:t oa the interest accw~ed and unpaid and the balance W tbe principal thea ~ remauiing uni~aid on stid note. 4. He wlil pay ~lt tase~. ameee~enh. wstee tates. ~nd otber soveeameatal or munieipl ~'.hat'~e0. fiae~. ar impostions„ far wLich provjeion has not been m~de hereinbetoe+e, and in default therao~f t6s Ddort~ee mi1Y t~1Y ~ w~me; and thst bs wiII pr~pt(y d~liver the o~icial reoeipts tberetor to t~ Mortgegee. b. He Ril! peradt, oomrait, ar euBer no waste, impainaneat, or detexiorution of asid property at~r thereot a~oept~ rea~wnable we~r and t~eau; and ia the oveat af tbe f~~l~ue at the Mortaagor to kcep tbe buil' d~ on eaid premises a~ those to b~ erected on s~id premiees, or imorovemeats thereon. in goal rePair the .l~iortgegee ayy of each snd e~ ae in its disoretion it au?y dee~m neoeeesry for the PZ'oP~' P~eervation the~o~~ and the ful! amount ~ t6e lien of t~u's~mor g~s,~! shaQ be due and p~yabb thir~? (30) dyrs atter deaaand, and s6sll be eecured by d. He will psy al! ~nd einguLr tLe ooets, ebae~s, aad eacPenees, includin8 reseonable lawyer's feeq, and eosta at abatraets of titte, inautred or paid st sqy time by tbe Mortgegee becauee of t~e failue~e oa the , P~'~PWY a?~ f ~o perform tbe aaroementa and oovenants d esid promiasory note and thia~moof the Mort~goe ! ~a~, ~ezpenses shall be immediatcky dae end pqysble aad ahall be secured by the lien flE tLis ano~rt~g~e~, i 7. He wiII oontiauoue~ mnintain hassrd inaunnoe, ot such type or typeg and amounta as Mortgag~ee ma~ frona time to time require, on the improvements aow or herestter on esid premises and exoepL ~vhen paymenQ ' tor ~ll auch premiums hae tharetofore been mada under (a af paragr~~h 2 hereof ~e wil~ P+~Y P~mptly ~vhen due any premiums tLerefor. Ali inaurunoe shall be carr~ in oom ec~ ~ ciee and renewals Wereof ah~ll be held b Mo sppmv by 111ortge~ee and the pol~ y rtga~ee and have stt~ched thereto loee papable cTsuses ia favor of snd in torm ~ocepta?ble to the Mo In avent of loes he will give immediate notioe by mail to Mortgagee, and Mortgsgee may make.praoi~~ if not made pmmptly by Mortgag+or, and each insur~noe oompsn,7 ooncerned is Lereb tut~honred and directsd to make paymen~ for such loas directiy to 141o~~ inatead o! to Martgagor iad ~ortgagee joint~y, aad the inauranoe pmceeda, or any part thereof may be ap,pled by 11iort~ ~agee at its option either to tbe reduction af the indebtedneee hereby eecured or to tihe reeton4on or:+e p~pe~t~ ~ama~ed. In event of forec-losure oi tLis mortgage. or other transter of tide to tha mortg~ag d p~+operty in ezting~~ahmenL of the indebtedaees secured here6y, all rigLt, title, and interest of the Mortgagor in ~nd to any insuranoe policies tlien ia foroe aball pa~ to t~ purchaeer or graintee, 8. He rvill not ea~cute~or fiIe of record any inetrument which impoeas a restriction upon the sale or occu- psncy of the property deecribed herein oa the basis of nce, oolor~ or creed, - 9. If t~e premisee~ or any part thereo[~ be condemned under the power of eminent domain, or aoquired for a public use, the damages awarded, the prnceeds for the taking of, or the consideration for such aoquisi- tion, to the extent of tLe fuU amount of the remaining uapsid indebtednesa secured by t6is ~~rtgage hereb~ assigned to the Mortgagee, and his heirs or ass~gna, aad shall be paid forthwith to said Mor-L ~agee or bis assignee to be applied on account of t6e last matunng installments of such indebtnese;provided,~ow- ever, the Mortgagee or his assignee~ maS at his discretion pap direct to the Mortgagor, hia heira or assigns . any part or all of such award; provided~ that if t6e loan is gvarsnteed or insured, the oonsent of the guaran- tor or insurer is obtained in advance of saidps yment. 10. The Mortgagee msy, st any time ~en 'ding a suit upon this mortgage~epplv to the court hsvin~t jurisciic- tioa thereot for the appointment ot a receiver, and auch oourt ahall fortfiw+? appoint a receiver of the premise~ oovered hereby sll and ainguIar, includ'u?~ ali and singulat the income~ profita, issuea, and reeenues fmm ~rhat- ever eource derived, eech and every oi vrh~ch it being expresaly understood, is hereby mortgaged ss if specifically set forth and described in the granting an~ habendum clauses hereof. Such sppointment ahall be made by such court as an admitted equity and s matter ot sbsolute right to said 4fortgagee, and wit6out reference to tbe adequacy or insdequacp of the vaiue of the property mortgaged or to the solvency or insolrency of said MorLgagor or the defendants. SucL renta, pro6t's, mcome, ~ssues, sad revenues ahaU be appliod by such receiver ~ according to the lien of this mortgage and the practice of such oourt. In the event of any defsult on the part of the Mortgagor hereunder, the :lfortgagor sp~mees to pay to t6e Mor on demand aa a reasonable monthlv rental for the premisea an amount at least equivalent to one-twelith ( s) of thea~r~a te of the twelve monthlv inatellments payable in the then current year plus the' actusl amount of the annual ta.~es, assesaments, vvster rates, aad inaurance premiuma for such qear not cwvered by the atoresaid monthly psymente. 11. In tLe event of sny breach oi tbia mortgage or defantt on the part of the :4lortgag+nr, or ia the event thst any of said sums of monep herein refene~d to be not promptly and lully paid sccording to the tenor hereof, or in fihe event tLat each and every the stip ulstions, agreementa, conditions, and covenants af said note snd t6is mortgage, are not duly~ promptly, snd feilly performed or if the biortgagor be adjudicsted banl:rupt or made defendant in s baakruptcy or receiverahip proceedinp; then in gither or sup euch event, the said aggre- gate aum mentioned in said note then rem ' unpaid, with interes~ accrued to that time, and all money secured hereby ahall become due and payab~orthwith, or thereafter, at the option of said 1liortgaRee, aa fully and comp~etely sa it all the aaid euma of money were originalty atipulsted to be psid on such dap, anr- thing in said note or ~a this mort~age to the contrar~? noLwithstanding; and thereupon or theresiter, ~t the option of said ~ior~, without notice or demand, suit st Isw or ia eqwty, mav be prosecuted. us if all muneva aecured hereby sd~matured priar to ita inatitution. The Mort a~ee msy foreclc~se thia mortgage, as to the e amount so declsted due and payable, and the asid premises shall sold to satisfy ana pay the same together with coate ezpensee, and allowancea. In cuge ot psrtial forecloaure of thia mortg , the mort aged premisea g sea aLall be ao~d subject to the continuing lien of this mortga~e for the smount of the de t not then due end ~~npaid. In such case tbe pmvisiona of Lhis paragraph msy again be svailed of thereaiter from time to time by the Mortgagee. 12. No waiver of any covenant herein or of t}~e obligation secured hereby ahall st any timc thereafter be held to be a v~aiver of LLe terma hereof or of the note aecured hereby. 13. The lien of thia instrument shall remain in full force and ef[ect during any poatponement or extension of the iame of payment of the indebtedness or any part thereof secured herebp. i4. This mortgege ia given t~ ~ure the purchase money, or s gart thereof, of the lands herein described aad is ezecuted and delivered contemporaneously with the deed therefor. 15. If the Mortgagor default in any of the covenants or agreements contained herein, or in said note, then the Mortga~ee may.gerform the same, and a11 expenditurea (including reasonable attorney's fees) made by the Mortgagee m so dou~ ahall draw interest at the rate pmvided for in the principal indebtedness~ and s1i811 be repsya~ble thirty (30) days af ter demand, and, together with inter~t and costs accrued tbereon, shall be secured by this mortgsge. ~ 16. Upon t~e requeat of the Mortgagee the Mortgagor ahall execute and deliver s supplemental note or notee tor the sum or sums advsaced bp We Mortgsgee for the alteration, modernization, iruprovement, main- teaance, or repair oi said premises, ior taxes or aseeeaments agsinat the asme and for any otLer purpose autLor- ized hereunder. Ssid note or notes shall be secured hereby on s parity with snd sa fully as d the advance evidenoed thereby were included in the note first ~ri,~d~OVe. S~}~pplemental note or notes ah~U beu 800K 17i~ YaCE ~~5y f.~-~~...,~;=~ ~ = w ~~:3: ~ ~ ~ ~ ~.w'`~ ~ - -w~ ~ - ~