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Home My WebLink About1051 J 0 s~ w w i!y ~ " 1 . . ' 1 the deficiency. Such payment shall be m~??de within thirty (30) daya wtter ~vritten notice fm~n the Mortgagee ~ stating the aiuount ot the deficiency~ which notice msy be givea by m~?il.. It st any tirae tbe Mortgsgor ~ ahall tender to the Mort{~xgee in sccordance with the provisious of the note secured hereby, full puymeat of the eutire indebtednesa repreeented thoreby~ the Mortgagee sa trustee ahaU, in oomputing the smount of such indebtednees, credit to the accou~t of the Mortgagor any credit bslence remaining under the provisions of (a) of ssidparagraph 2. If there ahall be a default uader any of the provisiona ot this mortgage resulting in • public sala oi the premises co~ ered heteby~ or if the Mortgagee acquues the pmperty otherwiee atter dafsult~ the Mortgagee as truatee ahall spply, at the time ai t~e commencement oI auch proceediaga or at the time the pmperty is othenvise acquired, the smount then remaining to credit of Mortgsgor under oi pare~rap6 2 pre~:edmg aa s credit on the intsreet accured snd unpaid aad the balaace to the principsl thea reme?uung unpaid on eaid note. 4. He wIII pw vl ta?~er. ~se~ec~ena. wstee sst~. aad othec~overnmenc,al oe municlP~1 ch~e'~a. 6ae~ or - impoeitions, for which provle[on bas not beea msde ~einbetore. and in defsult thereot t6e Morti,asee m~Y Pq? t~6s ~ame; snd t~Lat hs will pt+o~nnptbr delivec the offioial reodpd t6er~ar to t6e Mort~~ea b~. He w[ll permit, aommit, or w~ee no wade, imp~irm~~ ae det~erloration of e~3d pe~op~r oeaqy t~reoi _ ea~oept raieonabls wear aad t~ear• and in fbe event of t~he nre o# tLe Mort~or to keep the build~ on eai~ pcemises and tLose t~o bs erecte~ oa sdd premises, or imp~ove~?enh thereoa, good np~ir the MortB~ ~+1Y nu?te suc~ repaies as ia ib disoretioa it myr deem neoeenry for tl~e~~roper paeservation thereo~, and the full amount cf esoh and ew~sy a~ p~yiqeat ~haU be dae l~od;.plYsbis thir~ d~ys ~ftee deau~nd, and s6aU bs ~eaured by tbs Hen of tbi~ mort~s. 4. He will p4y a11 and atnauLr ths eost~. sdd p~peases. inctudin~ n~eonable Lwye~'s fees, aad oab d abstncts oE titie, incurred ar paid at any tim~e b~ort~ee beosuse of the failure on the part of the Mort~or P~'~P~Y aad i to orm the a~aea~ents ~ad ooveaaats of edd promiesory note snd thia mort~a~e, aad said ~v, abaU be immedi~/ d~e'and p~ysbb ~ud a6a11 be eecured by the lien of tLis mort~~e, 7. He w~l oontinuou~ maintain L~sard i~uranoe, oi such ~jpe or t~pes and amounta as Mortgag~es m41 lrom time to time require~ on t6s iunpro~ementq now or Le~e~eatter on said p»m~ees~ sad eiccepL whea paymen0 tor all auch premiums has theretofore been ~~i~der ~(a) oi p~r~ga~L 2 hereoi he will p~y prompt1y when due uiy premiums thhere~o~. All insur~noa' carried in comP~mes uPProvec~ b~ 1liortgagee and the poli- cies and renawals thereof s1iaII be ~eld bl Mortg~gee and h~va stiiched tbereto loas payable GTauses in fsvor ot - and in form aooeptable to tLe M In event oi ~es Le will give immediate notioe by mW to Mortgag~ee, and Mort~a~e m~y mate.pmofa~ it noE made pmmptly by Mortgagor~ and each insunaos compaqy aoncerned ~a hereb autLore:ed and directed to make p~yment for such loes duec. to Mo~~ mstead of # t~o Mortgagor aad ~ortgag~e~ joint~y, aad ths ins~raaoe prooeeds, or aqy patt there~ msy be ap-F7ied by 111ortr ~agee at its option either to tbe reduction of the indebtedo~ess hereby seciu+ed or to t~e reetontaaa or repsir d the property dama~ed. In eventi of foreclosure of this mo~~, or other tranater of title to the mortgaged p~+operty in extingu~ahment oi the indebtednees secured hereby, all right, tit1e, and iaterest of the Mortgagor m aad to aqy i~urance policies tLen in foroe shall pass to tLe purcb~eer or grantee. 8. He will not ezecute or Sle of reoord any inetrument ~vhich impoees s restriction upon the sale or occu- pancy oi the property deecribed herein on the baais of race, oolor, or creed. 9. If the premises, or eny part thereof~ be oondemned under the power of eminent ~domain, or acquired ? for a public use, t.he damages awarded, the proceeds for the t,aking of, or the consideration for such at~quisi- ' tion, to the extent of the full amount o~ the remaining unpaid indebtednee~s secured by this mortgage, are ~ herebv assigned to the Mortgagee~ and bis heire or assigne, and shall be paid forthwith to said Mo -~agee or his ass~gnee to .be applied on socount of t6e last maturing iastallmeate of auch indebtneas; provided, ow- ~ , ever, the Mortgagee or his ass~gnee, may at his discretion psy direct to the Mortgagor, Lia heira or asaigna any part or all of such award; prnvided, that if the loan is guarantced or inaured, the coasent of the guaran- tor or inaurer ia obtsined in a~pance of saidpa yment. 10. The Mortgagee msy, st i?ny time ~en 'ding s suit upon thia mo apply.to the oourt Lavin~c juri~iic- tion tLereof for the appointment of s reoeivet, and such ouurt ahaU fo~t~ a~pomt a receiver of the premisea oovered hereby sll and singulu~ includin~ all and aingular the income. pmfite, ~ssues, and revenues from ~hat- ever sow~ce denved :each and every of which, it being expresely nnderstood~ ia hereby mortgaged as if apecifically set forth and descr~bed in the granting and habendum clsuses hereof. Suc6 sppointment ahall be made by such oourt aa an admitted equity and a matter of abeolute right to esid Mortgagee~ and without reference to tbe adequacy or inadequacy of the value of the property mortgaged or to the aolvency or insolvency ot said ! ! Mo r or the defendants. 3uch rents, profits, income, issues, aud revenues ahsll be applied by such rec:eiver ~ ~ acco~~ to the lien of this mortgage and the practice of euch oourt. In the event of any defsult on the psrt { j of tLe Mortgagor hereunder, the l~fortgagor sg~rees to pay to the Mor on demsnd sa a ressonable monthlv ~ E rental for tLe premisea an sinount at least equivalent Lo one-twelf th of thea~r~a te of the twelve monthly ; ~ installments psyable in the then current year plus t6e actual amount ot the annual tsxes, seeeeamente, wster = f r~tes, and insuranoe premiuma for snch year not oovered by the doresaid montLly psyments. - ~ 11. In the event of aay breach of tLia mortgage or default on the part of the MortgaEor, or in the event ' ~ that any of said suma of money herein referred to be not promptly and fully paid acaording to the tenor hereof. > , or in the event thst each and every the atipulations, ag~ements oond'itions, and oovenants of said note and ~ t6is mortgage, are not duly, pmmptly, and fully performed or i~ the Mortgagor be adjudicated bankrupt or i msde defendant in s bankruptcy or rece~vers2u~ proceedings: thea~ia eitLer or any such event, the said aggre- ? gate sum mentioned in asid note thenremunu~g unpaid, ~nth intereati accrued to that time, and all money secured hereby s6all become due and psyable iorthwith, or theresfter, st the option of said I~io ~ fully sad comp~etely aa if all the ssid suma of money were originally atipulsted to be paid on such sy, anr- ~11IIg 1I1881d AOtB O! III ~118 IY10i~8~8 t0 ~ OOllfi'~? IIOLW1~lSt81l~1Dg; and ~hereupon or thereaf ter, et the option ~ of sa~d Mortgagee, without not~ce or dem~nd, swt at la~v or ~n equitp, msv be prosecuted as it all raonevs ; secured hereby had mstured prior to its institution. The Mortgagee msy foreclose t~his mortgage, as to t~e ~ amount so declsred due and paysble, and the esid premieee shaU~e aold to eatisty and psy the same tc~g~ether - with costs e,ipenses, and allowances. In case of partial foreclosure of this mortgage, the mortgaged prnm~ses shsll be so~d subject to the continuing lien of tLis mortga~e for tLe amount of the debt not t6en due end unpeid. ~ In such case the prov~sions of this paragraph msy agam be avaled of thereafter irom time to time by the : ~ Mortgagee. ~ 12. No wsiver of any covenant herein or of the obligataoa eecured hereby ahell at anp time tl~ereefter be ; held to be s waiver of the terms hereof or of tbe note eecured hereby. ~ ~ 13. The lien of this instrument shaU remain in full force and effect during any postponement or extension ' of the time of payment of the indebte~ness or any part thereof secured hereby. ; ~ 14. This mort,gsge is given to eecure the purchaee money, or s part thereof, of the lands herein describe~ ~ ~ and is e=ecuted and delivered contemporaueoualy with the deed theretor. ~ ~ 15. If the Mortgsgor default in any oi the covenants or agreemente contained herein, or in ssid note, then ± the Mortga~ee may perform the same, ~nd all expenditures ('including reaeonable attomey's fees) mede by the ~ Mort~sgee m eo dou'~ shall draw interest at the rate provided for in the principal indebtedness, ~nd sbnll ix s repaya~ble thirty (30) daya ~?iter demand, and, together with intereat and co~ts accrued thereon, ahall be secured by t,his mortgage. 16. Upon the request oi tLe Mortgagee the Mortgagor shall executs e~ad deliver a supplemental note or ; notes for the aum or sums advaaced by t6a Mortgsgee tor the alteration, modernization, unpmvement, msin- ; teaance, or npsir of said premises, for t~uea or aeseesmenta against t~e same and for aay other purpose autLor- ~ ~ ised hereunder. Said note or notea a6a11 be eecured hereby oa a parity with aad aa fully aa d the advance i evideaced thereby were iacluded ia the note fint described above. Said sup~ep~te~or~g~~s~iall besr ~ 1 ~ 5() _ , .m;~~,~,~ ~ s~,