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Home My WebLink About0619 : • ' ~ ' o! tl?e Mort~~ beooa~e immediats~? due and p~?Yabu. without nottce. and Proocedln~s m~U? be lndituted D7 tl~e itort- psee ior the recaverY tAereot DY torecloa~?re d Esla Mort~~e. or 1n ~qy ott~er manner Peswltted b7? law a the ~Rort ~aQee m~Y elect. Wtbini !a the aote or ia Ws Mort~a~e oont~lned to the oontru7 tLereto notwitlutaadiia~. UP~ fare- closure ot thls Most~a~e. tM Most~a~e~ slu~ll Ds ~1lowM a a part at tM lndebtedaa~ ~ecured hee~bY. aad tbe Mort- ~or st~ ~ P~1?. all ~wti and e~ in~wre~nd ia coanectloa therawitl~. fndudtn~ sersonabJ~ attorney's tees. oost ot title ~urd tax saurct? and the exte~don W date ot w abstract ot tltle ar tltle pallq?: ~nd in q~ acb ~o~r~dowr~ Droceed- In~s are ~etUea eetore t~e ~ona~mm.noA uzemoc or t~e ee~u, or iua~nt~ .W? sud? cods a~a ex~s .aa ocee: oD~r~es so Wcurrea. 1nchWins • raaonaWe attornq'~ iee. ~hall Aeverthelas De P~ ~e l[wrt`atse or.W parV fa 1n- terest. be1n~ the ht~hed bWder. my? be a puirlaser at aey foreclosure sale. Aq~? eleotfaa M t~ l[ort~~s M Ltreln pro- vfded fos mq? De e~cer~ed lmaaedtateb yDoa detault. oe at W? tlme tbeieattss. ~d aotNn~ aAa11 b~ ooa~steoed to bs a adver oi such r1~ht unlas a~ri8enoed b7 an 1ns4vment in writinQ to tAat eQect dul~ eucecuted by tht Mort~~e~ The Mort~asor waives all sl~ht o~ Sotneste~d aad exeYnptton p'aatM by the Qo~stituticn aad Laws a[ Flodd~. AND TFIE MORZ~GAGOIt FURTHSR QONVSNANT$ AND AGREE3: 1. To p~ tt~e prindpal lndebtsdnds with lntereat as !a tDe note provlded. 1b py? moatN~ unto tl~s Mort~a~ee. fa additton to and at the tlme aad pLce tor e~cd P~?naent of prlndpal and lnteresf. an installrnent ot each a[ t6e lolloqv- in6 chte~ess (v Z~aues aad a~ess~pa~tr. Yeneral or speclal. and dl other cbsr~ea levied or to be levied a~a4~at tl?~ premfaa. (b) Premiums to became due and pyrable for. and to renew. the institrance oa the prembes agalmt loat Dy Sre and such ~ther ha~aNs. a~swltt~s and_ contlo~ as berein A='o'+dded Lor_or requtred trom time to time. The amount o[ the reapective taanWis? lnstallments shall be e4ua1 to the amount oi the annual re~pcctive charQe next due (as esiL~u?ted Dy tbe Mcrt~e~ae). lers all in~tarinaenb alreadY P~ therefor. divlded by tbe anmber d monthty fn- stallmeats tberefor beoomin~ due not Lter than ane monW prbr to tl~e due date o[ any rtch char~e aad s2~aU be sub- iect to increase ar decrease to the e:tent re4~ired to create ss oi a month~jr paymeat dste an the note aot leas ttian dne month prior W tbe due date of an~? such charQe. an amount w~ctent for+the pq~rnneat tbereot when dne~and psyable. In no event sdall the Mortgagee rcoefvin6 wch W~Yment De lfable for aar laterest ou a~ amount patd to it as henin reclntred. and tbe money so received an~Y be held with 1b own lunds pouding p~yment or appllcatlon thereof as herein provided. Tt~e Mortgagor stu~ll iurnlsh unto the Mortgagee at least nitcen dqrs before t1~ due date an officisl statement oi the amo~at o1 any tazes or as~nents nezt dua. and such Mort~a~ee sball py the abo~e cbar~es to tbe aawunt ~ ths then unu~ed credit therefor as aad when theg? become sev~aUp dne ~nd payable. The Mort~ag~ee mey. at 14 optbn, p~y any ot such char~ea ahen peq?able, dther betore or after they are delinquen~ witDont aotioe. or make advances tAerefor in exceo oi the then amount ot credit for aJd eharQe~. The exoeas ~nount advanood ahW be lmmediate2y due and payable to the ~ortgAgee and shall be ~ecured as aa addttlonal prindPzl sum under thb instrun~eat and bear tbe same rate of interest irnm date oi advancement u the prlndpal lndebtedne~s. An o~IcW iYOelpt tberefor dull be ooacludve evidence ot such pe~rment aad oi the validlq? oi wch charges. The Mortaa~ea may appb? credib t~eW by ft for tLe above charges. or aqy? pact theiv.wf, on socoant oi any 8eli~uent lastallments ot prindpal or lnterest or any other pa~yments maturinB or due under th4 instrument ~nd the amount of csedit exiWng at enY time shell De reduced bY the amount thereof pafd ar npPlied as herdn provided. The amount oi the exlsUng credtt hereunder at tl~e ti~e ot aqy trander oi the P~nY shall without aadgnmeat thereoi Wure to the beneSt oi the sucoeawr o~vner oi the Property a~ shall be applied under and sub~ect to ell oi the pmvislons hereof. Upon tl~e payment fn full oi the indebtMness. the unount of anq unused credit shell be appUed W the payment t~ereoL The Mortgagee msy cdlect a"late charge" not to exceed four cents <4c) for each one dollar (=1.00) oi each monthly installment payment required on the note and ander this Mortgage which fs more tAan nfteen (15) dsys in arrears. to cover the extra expenae involved ia t~andliag delinquent payments. 2 To pay. when pe4yaWe. sll taxes and ass~sments. Beneral or speclal, water rents and grouad ren4 and W other charges whabo~ver levled upon or aasessed or pLaed a~afnst the premises. provldon for whid~ has not bem made here- inbeiore, snd wW promptly deliver tl~e o~ictal receipts Werefor to the Mortgagee; to Wcewi~e pay all taaq. a~aanenb ead other chargear levled upon or asaesaed. Placed or made agdnst thts lnstmment, or the Indebtedae~ or aqy lnterest oi tAe MortBsSee in the premises or the obligatlons secured hereby. Provided that tUe pqyment of any a~uh tax assess- ment or cbarge by the Mortgagor fa not contrary to law or would not result In the payment oi an unLwtni rate oi lnt~er- est•on tbe Indebtedness hereby secue'ed. In the event of the passage after tLe date of t6is instrument o[ aqy Lw of tLe State. or subdivfsion thereo~ wherein the premises are altuated, creating or providing for aqy tex, a~unt or charge ~ehich by ihe above prnvlso is not to be paid by the Mortgagor. t6e indebtednea seettred hereby together with intereat due thereoa~~ ahall. at the optlon oi the Mortgagee. become immedlate~y due aad payable. and in the event psyment there- oi. b not made forthaltA, the Mortgagee maY take or cause to be tal~~ such action or Proceedin8 es may be taken 6ere- unaer fn the ca~e o! any other defaWt in the payment of tLe lndebtednese. ~ 3. To keep the buildings u?d aidditlons thereto on or hereatter erected or pLced upon the leu~d insured against loas by gre and such other ha:ards. casuaitles and conttngrades. fntludin~ arar damages lt at any ttme a state oi war e~dsts or it appears to the holder of U?e note that war is immfnent~ and in such amounta and for wch perfoas~ as may be requlnd trom ttme to time by We Mortgsgee. and to pay prompUy when due all premiums on such Luurance. ProvWon for pay- ment oi which has not been madefiereinbefore. The polidaof inwrsnce shall have~loss p~yabk~provWons acceptable to the Mortgagee and ahall be deIIver~d to end held by the Mortgagee. or as ft nasy direc~, unW this l[ort~age is aatlmed. Renewal policies oi insurance. Premiums for which bave been fully pald. are to be lnrnlslied to the Mortgagee at least niteen days Prior b~ the expiraUon date oi tl~e insurance thereby renewed. The insuraace ~hell be wrlttea in co~mp~nies appmved by the Mortgagee; in no event shall the Mortgagee be held respon.sible for fatlnre to pay ior aoy insurauoe written or for aqy la~s or damage gm~wing out of a defect ia auy polic~ or grov?ing out oi auy failure oi a~ fnsursnoe company to pay for auy lass or damage insured agalns~ In the event of las the Mortgagor shall Qive lmanedlate notfoe bq mail to the Mortgagee who may malce prooi of loss if not made prompUy by the Mortgagor; ~ch insitranoe company ooncerned b.hereby auWorined and directed to make peymeat for lo~s directly to Uu Mortgagee instead ot to tbe Mort- ga~or and the Mort8a8~ ~~~Y: ~~ce Pra~. or ~Y P~ maY ~PP~~ b'Y the Mortga~ee, at its option. to the expen~es, if any. lncun~ed by !t in the collection thereof, to the reductioa ot tbe indebtedneas hereby se- cured. to the restonUon or repeir oi the ProPertY dunaBed. or released to the Mortgagor wlihont llabilit~ npon the Mort- gagee for such release. All poHcies o! insurance are hereby assigned to the Mortgagee as additionai aectuity for t6e pay- ment oi tl~e sium and interest iecvred hereby; ln the event o[ foreclosure of thb Mortga~e oa~ other trander et tiW to tt~e premises in extinguishment o1 the indebtedness. all rlgl?t~ tltle snd fnterest of the Martgagoz in and to any inwrance I polides then in foroe shall paas to the purchaaer or gi~antee. 4. To coa~plete witbin a reaso~nable tlme any bullding or bufldings now or at any time ta the proaas ot erectiozt upon the land and to promptly repair. restore or rebuild any butiding or lmpravementa now or hereaftes oa the lend vrhlcb me~y beoo~me dama~ed or be dwtroyed, an~d not oommit or permlt to be done or eslst on or about tbe pt+emi~es anything ~v6ereby th! prhntses ~hall become lea valuable: to Coinpt~ O~rith all law; rules. regulaUons, or or~iaances of ai4 S'~- mental agency and not vioLte or peranlt the vioiati~ as W t6e premises of any building ar use restrlctbn~; to keep the land and impro~vements thereon iree irom mechanids and materlalmeay Ilens aad will not su~er eqy lien wperior to tbe ~ Ilen created by tlds lmdruaneat to attech to or be enforoed egalnst the prtmtea. S. It detault De made in the payment of taxes. asse~nents, liens, cWm~. insurauce premiumr or any otlier chsr~e wbat~oever. or atq? pert thereof, or in the pedormaaoe oi any act.-to be.pald or performed b~r the ][o~or umies tLe WnvWo~s baeot. tbe Mort~agee m~Y. at i4 option. mate p~yment thereoi or periorm any act reqWred d the Mort~a~or ia aq~ form or manner deeined espedimt aad p~y atq? otber wm that i~ neoanry? to pr~tect tbe sscurlt~ ot tLis instnt- m~t: the amounb so patd wlth interest therea~ Lcom the date oi such paymeat at the same rate as boene b~ tLe prla- dpal in8ebtedne~. ~Lall be a~a~ed as aa addttlonal lfeu an the prrmtses and aluill be ~dded to and beoo~ae a part o[ tlfe I 1~debt.edna~ sechtned bereby and be itnmcdiately dtte aad pqable to tbe Ma~t~ee• Aq~? p~rme~t beieb7 antbo~ised to be ms8e bY tbe l[o:t~ee iniyr be msde aooord~?8 to W bt11. statemeat or estimate furnlabed ot proe+tred from tbe appro- D~u PuWiC a~toe ar the P~rt7 ~s P~Y~t wittwut fnqutr~r lnto tLe accuraq? ae vWdlb t1~n+ea[. and tbe teodpt a[ ~7 P~lic oafoer or parf~r !a tbe lunds o[ the Maet~ee sball be oo~eludve evide~aca o~ tbe t?alidlt~ and amamt o[ it~ar ~o PalA: We Mart~ee sba11. at iL optton. be snbrogated W 1m~ mcumbreaoe. 11e~. eLlm ae drmand, aud to all tbe ri~hb and ~ecudtle~ fae the P~7meat t~erso~. Patd os dlx~ar~ed with the prindpai wm aecue+ed bereby oe b~ t1r Yott~e nMar tae prnvLloos ~eot. ad an,t sueh wbro~atloo rlp~ts ~hali be ad8ltiooal and cumulaHve ~cnriqr to tNs l~[oct- . ~ooK 1~4 ~cE 617 - . :,.:e~ ~r 4 ~ _ _ _ _ _ . . . . _ . _ - ~~°.x..r ~ _s