HomeMy WebLinkAbout2275 ths de&cieacy. Suchp~ym en~ ~hail be nude ~rithin tturty (30) d~ya attee wri~ten aotioe troaa the ~Iortgagas ~
stating the amount o[ ths deficiency~ ~V~11CI1 AOtICa III~;~ I10. ~iven by mail. It a! aa~ time t-he Mort;a~or ~
~hall tendet to t~hs Mortgages ia acoordi?nae with the prov~ow of the note eecured hereb~ fuU pwonea~
ee ~
of the aatirs iadebtedae~ rspc~e~ented thereby, the Morcqsgee ~s trust,ee shaU~ ia oumputiag the ~moun~ ot
m in
wch indebt~edpees, crediti to t6e aooount oi ths Moct$ag~or credit bsl~?ace rem~in under ths provi~ions
oi at s~idpar~gr~?
ph Z. I~ there sh~ll be a detault under oay ot t6s provisioas ot~is wottgage resulting i
in a public a~ e~t oi tbe prea~ises a~vered hereby~ or it tha Mortg~e aoquic~es tba property ot6erwise dtee ~
detse~lt, the Mortgnges ae trustee sh~il spp~y. at the time oi tbe aommencemeat oi auch prooeedings or a~
the time the propec6y is athe~vise acquired~ the aaaouat then rem~ining to credi~ ot Mortgsgor under (a) ot
psra~rap6 Z pt+eoeding as ~ credit on tha inter~st socured snd uupsid t?nd the balsnce to the principel thea
renna~ning uupaid on a?iA note. ,
8s wiII py all ta~oo~ ve~mentr. ws~tee nle~ ~nd otbee t~l ae muobiPa ~
ths~ hs wi11
pe~~pt{~? deli~~ee o~l zeoeipL~ t~eetor to !6s M~
~ ths Mctti~'es myr Py? tb~
6. He wiU pennit~ oowmit, o~ ntQae n~ w~e, imp~ttmea ar d~ioration cf ~aid pe~opeef~ a net t6e~~eot
e
e,~espt re~eoaable war and t~r• and ia ihs even0 ot t6s i~urs ot tbs M to keep t~Le b~ oa ~
pre~ni~~ and t6o~s ~o bs ereote~ ca raid preoni~e~. or innpe~aeoneab tbereon. sood repair ths Moet~ses my
maloe w~o6 rep~ir a~ in ib dis~+stion it m~y dsaa neoewsy foe Lhs_~opee preservatbn tbereo~ and tM fuU amount
ot ereL aad eveq w~eh pqrmea~t abaD be dt~e and Pq~abk tbicf~ (,o) d~ aftee demand, an~ ~6al1 bs ~ecured b~
tbs lien ct thi~ moctp~e.
d. He ~rill piy? aD ~nd aiusuisr ths oosb, ~nd ea~pease~. inal~dia~ rwoasbia b?wy~ee'~ fees, and oo~t~
at ab~traoh af tltk. iaoutred oe patd ~?t any t~s~ort~~ee beoau~s ot t6s fail~rs on tbs p~rt of tbs Mat~~x
pe~ompf~+ aad t~o pe~fana tbs aQeemeab ~nd oovenanta cf a~id promie~ory not,e and this sad ~aid ~
oo~t~, ahse~e4 ~eo~eo~s ~sU bs im~m~e~ate~r dns aad p~y~ ~nd ~hsll be ~eaue~ed by tbe lieu~
~~mort~a
7. He w1II oontianon~? msint~n ~ ian~ranoe, ot wch ~,TPe or t~pes aad waunts as Mort6~6'~ ~7
~e
from tims to dms rsqei~+s, on.tLe imp~o~emsnh now ar bse+eatte: on said and escept wLen pyment
!ae all such prsmiums L~s tLsretofors been made nnder oi paragrs~L ~ hereoi will pa~ pr~ap wLea
das aq~ ps+sminms tberetor. Alt insuraaos ahall bs carried ia companties sppro~ b~ Mrt~a~ aad
cie~ and rsnawals tLereoi ~6aU bs LeW b~ Mortg~ges aad La~s sttacLed tbereto b~e p~yablep
-c4uses in ta
~
aod ia form soospt~abls t~o tLs M ~sg~s. In s~eat ot 1o~s Le wilt give immedi~ts nowoe by m~il to Mortgages,
~nd ~es m_y maks pi+ooi~~~i lor it not mads pe+ompt~j b~ Mortg~o~rj and each imnnaos ooa?paq~
oooo~i~ ~e wthorised aod dirsated to mai~s p~ment ior such 10~ du+sc. to M matead ot
~o Mo~t~ and ~ort4~g~es ian , aad ths i~auanos prooeeds~ or an,~ part tLere~~m,y bs~~ed by ~io~
at ita op4on eit~er to tbe ~natioa oi tLe iadebtedneM Lersb~ ~ecured or to t~e rest~osatica ar at
~P~'oP~~ In e~en0 oi forsobsurs o~ tbi~ mo~~a~, or otba~ trandsr of ~itle to tbe arc~~ed f
pe~p~ in eact~nguuhment oi the iadebtedneM ~eau+sd hereby; all tight, titJs, and iaterest oi the Mart4~or 3
ia and ~o aqT iasue~eaos polioie~ tbsa ia 4oros ahall pa~s to :bs purcb~sr or ~antes.
8. He will not eiecute or file oi reoord any in~trumsn~ which imposes a restriction upon the sale oc oocu- i
pancy oi ths property de~cribed herein on the bae~ of raoe, oolor. or creed. ~ ;
9. Ii the premises, or sny p~rt thereof, be oondemned under the po~ver of eminent domsin, or aoquired ~
for s public uee, the damsges awarded, the ~oceeda for the te~ing of, or the considerstion for such soquiai-
tion, to the estent of the full amount of the remsining unpaid indebtednees secured by thia mor~g~ , ue ~
a
Lereby seaigned to the Mortgagee, and hie heira or sasigna, snd sh~ll be paid fortLwith to eaid M- ages
or hie ~ee to be applied on account of the lsat maturing iastellmentsof such indebtnees•provided, o~v-
ever, the or ee or his aa4ignee, may at hia discretion pay direct to tLe Mortgsgor, Lis ~e~ra or aesigns ~
m
aqy part or all o such awud; pmvided, thst if the loan is guaranteed or ineured, the oonsent of t6e guaran-
tor or insurer ia obtained in sdvance of saidps
ymeat. :
10. The Mortgagee m~y. at any tiWne pend'mg a sui~ upon tLie mo apply.to the oourt hsving juriadic- ~
tioa thereof for tha appointment of a rec~ver, and such oourL sba11 fo~t~ s~point a receiver of the premisea
covered Lerebq all and ~ingular~ includin~ all and singular the inooma, proSts, issues, and revenues from vrhat-
ever souroe den9ed, each and every oi w~uch it beu'
~ezpressly understood. i4 Lereby mbrtgag~ed as it specifically
~e~ forth and desciabed ia tLe,Bcaatin8 an~ h~?besdum clauses bereof. Such ~ppoiatment ahall be made by
such court as an admitted equity md a mstter of abaolute right to said Mortgagee, and without retereuce to
s
tLe adequacy or inadequacy of t6e value of the property mortgaged or to the eolveacy or insolvea~y of said ~
' a
M ~gag~ or tba defead~ats. 3uch rents, profits. inoome~ iseues. aad ravenuea ~ha4 be applied by such reoeiver ~
''I soooQ~rd~
-'ng
to the lien oi t,his awrtgag» ~!d the practice ot such oour~. In t6e event oi aay deiault on the part ~
of t6e Mortgagor hereunder, the Mortgagor a~rees to pay to the Mortgagee oa detnand as a reasonable monthlv
reatal for the premises an amount~at leasL equivaleat to one-;,~elith (3j~) oi thea~r~a
ts of the twelve nwntblv ~
~ installmenta payable in the then cun+ent yeu plas the actual amounL oi tLe annual tues, aeseesments, w~ter €
ntes, aad inaunuoe preaniums for such year noL oovered by the doresaid mont~}ilY PaYme~?te- t
~ 11. In the event of ~ny breach of tbis mortgsgs or default on tLe part of ths Mortg~r, or in the eveat ~
I that any oi said aums oi money hereia refen~ed to be not pmmptly and fuUy paid woording to the tenor hereoi
or in the event th~t each and every tLe stipulstions, agreements oonditions, u?d ooveaants of aaid note an~
~ this mortgage, are not duly, proanpdy, and fnlly performed or i~ the Mortgagor be adjudicated bankr~pt or
made deteadant in a ban~vptcy or receivershi~ pmoeedings; thea in eiZher or any auch eveat, the asid aggre- ;
gat~e sum menUopedin ~aid nots tLe~-remun~ng unpaid, with intereat a~axued-to th~t time, and ~Il moaey s
~ecured hereby= ahsll becoma due and psya , or tLereaft~er, the o tion of acid Mortgagee, as f
~ ble forthwith P
i~lly and oomp~etely as if all the ssid sums of money were. originally' atip~lated to be paid on such d~y, an~- }
thing in sud note or m this mort~age to the ooatrar,~ notwitbstanding; aad thereupon or thereafter, at the option 2
of said Mortgagee,~~rithout noUoe or dera~ad, s~ut at law or in equity, may be proeecsted as it all moneva :
aecured hereby Lnd a~atured prior to its inetitution. The Mo may foreclose this anortBaB'e~ ae to tbe ~
~ amount w declared due and p~yable, tad the ~aid pnmise~ shall~ld to 8~talsfy and p~y the saa?e tog~ether ~
~eith oosts ezpenses, and allowances. in caee oi partiai foreclosnre of thia mortgage, the awrtgaged pmraises ?
~ ~hat1 be so~d subject to tLe oontinuing lien of this mortgage for the amouat of the debt not t6en due and ~mp~?id.
- In such case tbe provisions oi this paragraph may agata be ava1ed oi thereatter from tiane to time by the _
~ Mortgagee. ~
12. No waiver of any ooveaant herein or of the obL•gstion secured hereby ahall st sny tune therestter be ?
~ heM to be a ~raiver of the t~rms hereoi or oi the note secured hereby. ;
~ 13. 1'6e liea oi this instrument shall remsin ia full force and effect during any postponement or eatenaion ~
et the tiau of payment of tLe indebtednees or any part thereoi aecured hereby. a
~ 14. This mortgage ~s givea to secure the purchnse money, or a par~ thereoi, oi the lands hereis deacribed :
and is e=ecuted and delivued oont~emporweouely with the deed tLerefor. t
~ 15. If the Mortgsgor defsui6 in sny of the oovenants or agreements oontained herein, or in said note, t6en '
the Mortga$ee may p~rforin the same~ and sll e:penditurea ~includiag reaeonable attorney's fees) made by the :
Mort~a~e m so do~' ahall dna interest at the rate provi ed for in the pr,ncipal indebtednese. snd shsU be ;
rep~yi~ble tLirty (30) days atter dem~nd, and, toget,her with interest aad oosts accrued tLereon, ahaU be secured
by t~w mortgage. `
18. Upon tLe request ot t~e Mo the Mortgag~r ehaU e~cecute and deliver a supp
lemen t s
l note or =
not~es for t~e snm or su:os advauoed b~y
~e
Mortgsg~ee tor the alterstion, moderniution, impmvemen~, main- ;
tenanee, or repaa of ssid premises, ior tuses or arseasmenta ag~unst the eame u?d for any otber purpose suthor- ~
ised hereunder. 3a~d note or notes sLaU be eecured hereby on a parity with sad as fuUy as ii the advmce ;
e~ideaeed tbereby were iacluded ia the note &st de~xibed above. pplemental note or notea shaU bear ~
gQux~~~ tEC=
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