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Home My WebLink About1980 • , . of the Mort~a~e~ become immedfateb du~ artd payable~ without notlce. aad procKd[n~ aW? be InstltutM b~ tbe ldost- pgee tor the reoo~veq? thereo[ D~? toreclaaure ot tAL: McKSaQs. or ia aeq? other ma~u~er pertaitted b7/ Lw as the Mort- ~e~ my elect. aqythint iw tde not~ or in this Murt~e oontafned to the ooatrar~? tbereto notwlthstandin~. Upoa iore- closure oi tNs Mort~ate. tM D[ort~a~e~ sbW be Wowed ~s a past ct the lndebtednas ~ecureA hereD7, and tl~ Most- tsltle~ nd t~ax and the exteadon to da~a~~an Rbstnct ot titlte o tl~W poliq; aud~aich~tondoa~re P~• tag,s are aettkd betore the coaaiana~aUoa tqereot or t~l~e entq? ot ~ud~men~ W wch oo~ts and exp~s and otber ~ chargps su 1ac~rred. lndudlnf~ a rc~sw~abb attoiney's fee. tball nevert~elees pe paW. ZLe ~[cds+~ or W Wrb?1n i~?- terest. Delat tAe At~hat pldder. awy be a purchaser at ~nY foreclowue sale AR1? electiaa by the D[ostsa~ee as hsrein pro- vlded for a~r DR exei^cised lmmedtateU apoz? detaulR or at ~nY W~ . therea~tes. and aotldn~ shall bs aonstn:ed to be a F waiver of such ~ht unleas evidenoed by ~a las4 ument iu v?rltin~ to that eQact du1~7 e~[ecated b~? the Mort~agee. Tt~e Mort~a~or watves W rl~ht oi homeste~d ana exesnptlon tranted b7 tt~e Cbnstitutloa and J.aws ot 1~7a~. i AND TAE MORTGAGOR FIIR1~ CONVENAN'I3 AND AGREFS: 1. Zb p4y the prlnclPal ladebtedness v?!th interest as !n the aote grovided. To pay monWy unto the Mort8a8ee. in addition to and at the time and place for eich payment of prindpal and in~ en instalhnent v[ each d the follovv- in8 chai'8es. ~ (v Taxes and as~eas:?ents. Beneral or special. sad all other cdar8a levted or to be levled a~ainst the premises. lb) Premiums W beoome due ~ud psyable for. aad to renew. the insurance oa the premkes agatns~ loss by ~+e and mch other harards. cssualtles ~nd oontinHenc4s as bereia provlded -ior or rocluie~ed from 3ime to ttme. The atnount af We respecti~ e monthly installesenb she~ll be equal to the amount o! the annw~l respccNve charge next ~ due <as eWmated by the Mortgagee). les all installanents alceadY P~ V?erefor. dlvided b~ tbe nu.nber a[ mont4ly in- atalimenfs therefor beoom[ng due aot Lter tLan one month prlor to tLe due date oi aqy such c~arge and shall be sub- ~ fect to lncrease or decrease to the extent ~1W~ ~ create as o! a monthl,y peyment date on tt?e note aot less than oae month Frlor to the due date ot any such charBe. au amount suff:cleAt for the g~irment t6ereoi wLe~ due • aad peyeble. ~ In no eveat ahaU the Mortgagee receiving such payment be llable for any interest on any amaint patd to it aa herein ~ required. and the moiaey so received may be held with 1ts own funds pending psyment or appllcation thereoi as heretn provided. The Mortgagor e~all furnfsh unto the Mort8a8ee at least niteea de~y?s befon the due date sn o~cW statement oi the amount oi any taues or atseavnents next due. and such Mort~agee shall pay t6e above charges to the unount of the th~? unnsed credtt therefor as and when theY become a~weta117 due and P4Yabl~ The Mortgagee msy. at !ts opUon. pay any oi auch charges when pqyrable. eitt?er before or aiter they are deW~quent, without notice, or make advances ~ therefor ln excess oi the then amount oi credit for said charges. 1Le exoeas amount advance~ s6a11 be immedlatety due and payable to the Mortgagee and aha21 be secured ss an ad~ittonal prtudpal sum under thLt instrument and bear Lhe same ! rate of intereat irom date ot edvancement as the principal iadebteduess. An o~icial receipt therefor shaII be conclusive ~ evtdence ot auch p~?ment end of the valldity ot such char8ea The Mortgagee ms,y appl~? credib held by it for the above charges. or any part thereof. on aecwnnt of any deW~qu~t lnstallments o[ pr[adpal or Interest or any other payments ~ maturing or due under this instnuneat and the emount ot credit exladng at nny time shaII be reduced by tLe amount thernot paid or applied as hereln provided. The amount oi the existin8 credtt hereunder at tUe time oi any transier of the P~nY shall without assi~unent thereoi inure to the benest oi the suooessor ovvaer of the properqr and shall be aPP~ under and subfect to all oi tAe pmviatons hereoL Upon the payment in fuU oi tAe iadebtedness„ the amount of any unused credit shall be applled to the paynnent thereof. T6e ~dortgagee may oollect a'7ate charge" not to exceed four cents <9c) for each oae dollar (i1.00) oi each monthly ;nstelimeni p~yment required on the note and under thls Mortgage which is more than Stteen (15) days !n an~eais. to cover the e~ctra expense lnvolved ia handling delinquent payments. 2 To pay. when payable. all taxes and as~sments. general or special, water rents and ground rents and all other ~ ¢harges whntsoever levled upon or aasessed or placed against the premises, pmvtaion for wWch hss not been made here- InDefore. and will pmmptly deliver the oSicial receipts therefor to the Mortgagee; to Wcewise pay aU texes, assess~nents ~ and other charges. levied upon or assessed. placed or made against this iiutivmen~, or the tndebtedness or any lnterest of We Mortgagee in the premisea or the obligaUons secured herebY. Prov[ded that the payment oi any such tax assess- ment or charge by the Mortgagor ia not contrary to law or would not result !n the peyment oi sa unlawtul rate o! inter- ~ est on the indebtedness nereby secured. In the e~ ent oi the paasage after the date of t6is Instnunent of any law of t;~ ~ State. or subdivisiaa thxreof, wherein the premises are sttuated, creating or pmvidtng for any tax, ass~nent or charge which by the above provLqo is not to be paid by the Mortgagor. the indebteduess secured hereby together with interest due ~ thereon. ahall, at tLe optlon oi the Morigagee, become immediately due aad psyable. and in We eveat payment there- M b not made forthwlth. the Mortgagee may take or cause to be taken such acUon or pmoeed[ng as may be taken here- 'I ynder in the caae oi any other default in the payment of the Indebtedness. 3. To keep the building,s and additions thereto on or hereafter erected or placed upon the land insured egainst lass ~ ( ~ ~ by fire and such other haurds. casualties and contingeactes. facluding war dsmages ii at any time a state oi wnr exists or ~ it appeara to the holder of the note that war is imminen~ end in such amounts and for such perbds. as may be requlr~d irom time to time by the Mortgagee. snd to pay promptly when due all premlums on snch ins~rance. pm.~ton for pay- € ment of which haa not been made hereinbefore. The polides oi insurance shall have loes payable proviaions acoeptable ta ` the Mortgagee and s1u11 be deIIvered to and held by the Mortgagee. or aa !t mqy direct, untfl tlils Mortgage h satistled. ~ Renewal poHcies"oi insurance. Premiums for ahlch have been fully psid, are to be lurnlshed to the Mortgagee at least ' ntteen de?Ys Prior to the expiratlon date o! the insurance tbereby renrwed. The insurauce sball be wrltten 1a oompanies ~ approved by the Mortgagee; in no event shall the Mortgagee be held resporldble for tailnre to paq for any insurance i written or -for any tass or danu?ge growing out oi a defect in any pnIIcy o: gro~aving out ot any taUure oi any lnsurance t company to pa}i for any loss or damage ir,sured against~ In the event of loas the Mortgagor shall gtve immedlate notice ~ by matl to the Mortgagee who may. make prooi of loes it not made pmmpUy by the Mortgagor; each insaranoe rnmpanq oonceraed is_hereby authoriud and directed to make payment for loaa d[rectly to the Mortgagee Inatead of to the Mort- gagor and the Mortgagee fointly; the insurance proc~eeds. or any part thereof. may be appIIed by Ne Mortgagee, at its option. to the expenses, if any. incurred bq [t in the collecUon thereof. to the reduction oi the indebtednea hereby se- cured. to the restoratton or repair ot the property damaBed, or releaaed to We Mortgagor without liabWq? upon the Mort- gagee for such release. All polides of insurance ure hereby assigned to the Mortgagee as additlonal security for the pay- _ ment of the sums and interest secured hereby; in the event of foreclosure of thb Mortgage or other transier M tltla to tbe - poHd~ n in force~shall~pass o tLe purchaser or g anht c~Ue and interest of the Mortgagor in ana to anq inaurence ~ ~ 4. To oomplete w1tWn a reasonable time any building orbuildings now or at any time !n t2ie prooe~ oi erection upon ~ tLe land and to pmmptly repafr. resWre or rebuiW any butlding or improvemenis now or hereatter o~ the land whtch may beoome dama~ed or be destmyed, and not oouunit or permit to be done or exfst on or about the prtml~es anything whereby the premises Mall beo~me less valaeble: to comply with all laws, rules. regulaUons. or orainances of any govern- mental ageacy and not violate or permit tLe vlolatlon as to tbe premL~es oi any bullding or use restdctlons; to keep the ~ land and lmprovementa therPOn free irom mechanlc's and materialmen's li~s and wtll not suQer at~,y IIen snperbr to the • lien created by thls instrument to attach to or be enforced a$ainst the premises. ~ 5. If detault be made !n iae pm~yment oi taxes, asa~nents, Heas. claims, insurance pr~niures or any otLer charge whatsoever, or say part thereof, or in the pertormance oi any act. to be paW or periormed by t6e Mort~a~or under tbe provislons hereot. the Mortgagee msy, at Its opUon. make peyment thereot or perlorm eny act requfred ot tbe Mortgagor any form or mannet deea~d expedient and pay aqj? ather sum tlut L neoessary to protect tbe se~vdty of thls instru- ~ menR: Ux aa!ounb so pefd. wlth interest thereon irom tl~e date oi such payment at the s~me nte as borne by the prfa- clpal fndebtednas. shall be aoes~ed as aa additional lien on the premi:es and sbW be added to and beoome ~ part ot the indebtedneas ~ecured hereb~ and be immedlately due and payabie to the Mortgagee. Any psymeat ri~eb~r autlari~ed to be ~ - made by the Mort~a~ee may oe made aooot+ding to an~Y bt11. statement or eatimate furnlsbed or pr~oeue~ed troma tbe appro- ' griate pubiic office ae the WrtY ~S PsYmeat arlthout fnquiry into tbe aoniracy or. vaUdtb thereot. ead the reoeipt o[ an~? Pablic offioer or party Ut t4e bands oi the Moetge~ee sball be ooncludve evidenoe ot tbe valSdiq? and amo~mt a~ ttea~s = w p~1d• the Mortga~ee sball. at ib optlon, be subrogated to aqy encumbrance. 1kn. claim or deaund, and to all tbe ri~hts ~ ~ad ~ecudtles for the p~ymea: tbereol, patd or diseLarged wlth the P~clPal sum secured herebr o~' bl? We f[ort~aLee ; undez tae providom l~ereo~ and ~ny such subm~atbn rlght~ t~haU be additfonal and cumulatlve ~ecus[I~ to t6is l[ort- ~ ~ i OR ~ eooK 161 178 ~ ~ - _ - _ = - - ~k; : ~~4c:.., - ; t'~y s - _ ~ . _ _ . _ . _ i~