The URL can be used to link to this page

Home My WebLink About1621 Mortgag~or shall to Lhe Mortg~es aq~ auwtio~ asceMar~ t,o m~ke up t,he deHcicna~. Suc6p~ meat ~11 w~Wah uo~u e~n bs v~en~ b~mW Ii ~ ~ t6e Mo MQ - sbaltst nd~ ~ t6e Mat ot the dc6a'eacy~ mU ~ ~ aq~ rtg~gor orta~geeia ~ooord- anoe with tbs~ proviWOna ot the aotis secured hee~eb~. iull paymeat ot the entire iAdebtednees rspresented therebj, the Mor~g~ee sh~U, in oomputiog ~he aanouat oi such indebtedae~ credit io the aooount ot the Mo~rtg~gor aq~ areai~ balance remainiag uader ths provisioos ot (s) ot said h Z. Ii there s6~i1 be ~ det~ul~ und~ ~ ot ~he ~ra~isaas ot t~his mortgage rewlting in a publia ~ale oi e premiaea oo~ered Lerebj or it the Moefgagee ~cqwre~ ths propertj oL6etveyse aftee det~ult~ tbe Mott~g~ges ah~U.~. a0 t~he Lims of the oommencemea~ ot wch proceedings or at t6e time the P~'uPe*ty ia oWe~wiss~q . the amoun~ then remaining ~o credit ot Mort~~r under (s) of p~rageogh Z precrdiag ~s ~ credi~ on ths iaterek aoerued and unpaid and the balanoe ~o t6e priacipal thea remainiog uapaid oa e~d aote. 4. 8e will pq aH ta~oe~. a~e~ment~, watee :+ate~ ind o~bee~~eenmenLl ar mnaldPd aW~~ 8~ ae ~P~~, for wbied pe~ovleioa ~s not been m~cis bee+einbetoe~s~ and in detwl~ t6ereot t6s Matp~es miU? p11 tbs waoe; and fbat Ls wiQ pe~ompl~y de~ver ~s o~aial reoeipb t6ee~efoe to t~6s Mo~tg~~s. b~. He will pearmft, oooomit, ae w~f[er ao waste, impairn~ea oe def~e:ioe~tion of e~id eaooept re~ooabls w~eat and t~ear• aad in the aTenO at t6s ~ ot ths Mo~ to lc~th~b~i~ ~ peem~ses aad tba~s ~o bs ereatet~ an ~aid peamiees, ae ianpe~ovemeats tLe`eon~ la ~ood rep~ir tLs Moct6rses my? malrs wsoh repair~ a~ in its dis~e#ion it myr deean neoeeeary foe t6e pe~eseevstion t6ee~eo~ and t6s fuU amo~mt oE e~h ~nd e~r w~h p~yme~t s6all bs dne and pqyabis ~hir~j? (~d~ aftee demaod~ aa~ ~hall bs ~ea~u~ed ~ tbs ~ at this mo~t~e. - 6. Hs wiR p,y aII aad dn~uLr tbs eo~ti~se~s and eapa~ses, inolndtn~ re~soo~bb Lw~ree'~ fees„ ~wd ~ aN ree ot ~bstrao~s ot titb, iaa~reed or paid at aa~ tims by the ~osta,s~es beoau~e ct tbe failure ou the paet d tbs M ~a~pe~ a6aII bs ~ dns aad p~y~bys and ~ ~eaured~ b~y t~ liea ot tbis 'mort~, 7. Hs w~l oontianoue~ maintdn b~ara innuaaoe, at such typs ortypes and aawnats ~ Mortgag~es ms~ fi+um tims to tims require, on the impro~ements now or be~+eatter on eaid - and ezoept when pyment tor aIl sucL premiums Lv theretofors been made under ~(a) of pang[s~h Z h~ee+eof i?ill pa, p~r~apf~ wbeu due aq~ premiums there~for. AIl i~uraa~oe bhaU be carried in oomP~~ ~PP~~ bJ' ~~rt6~s~aad L6s pdi- cies and rene~vals thenof ah:ll be heW b~ Mortga~ee ~ad bave ~ttached the~+eto 1oa~ payable in ii~or at oes and in form sooeptable to t~hs M In event ot loes hs will g~re immediats notios by m:il to Mortgageq~ and M my make pa~oo~ if nut mads prompt~j b~ Mortg~g~r~ aad e~ch i~u~anos eompa~q oonoerneda ~s by~ wtbori~d and direated t~o make pa~ymenL for such loas direct.~? to M imstead at to Mortgag~ur and Mortgag~ee joint~l~~ aad the i~uranoe Prooeeds, o~' a~ Part t~e~'e~i aW bs~~~ b7l~iort~ ~ages at its option either to tbe reduction of the indebLedness hereb~ ~ecured or to t~e restorat~a ar repair aE the pmperty dsma~ed. In event of foreclosure oi this mo~~g~g~, or other ~er a~ title to ihe murtgsged pe+operty ia t of the indebtednees seau~ed Lereby; all ri~ght, title, and int~erest oi tbe Morfgagor m and to aq~ insunnoe poli~cies tbea ia foroe ahall paes to the purcLaesr or gi~ant~ee. 8. He ~vill not esecute or Sle oi record any insttument which impoees a restriceion upon the sste or oocu- pancy of tLe pmperty deecribed herein on the baeis of r~u;e, color~ or creeii. 9. If the premisee, or any part thereof. be condemned under the power of eminent domain, or aoqaired for a public use, the damages awarded, the proceedB for tLe ta of, or the oon~de~staon ior each aoqiriei- tion, to the eatent of the full amount oi the remaining unpaid indebtednees eecured by this mory~a~e, are herebv asaigned to the Mortgagee, and 6is heira or ass~gna, spd aLall be pai$ forth~vith to eaid M~r-~gee or his assignee to be applied on ac~count of the last ma~unng tnatallments of sucL indebtueer• pmvided~~ow- ever, the Mortgagee or Ws assignee, may at his discretion pay direct to t~he Mortgsgor, hia ~eire ar aesigna any part or all of such award; pmvided, that if the loan is guaranteed or insured, the oonseat of the guaran- tor or insurer is obtained in advance of saidps yme~t. 10. 1~e Mortgagee msy~ st any time ~en 'dm -g a suit upon this mortgage~applp b the court having j~uisdic- tion thereof for the sppointment ot a receiver, and such o~urt eball fortbvin a~point ~ receiver of the premiaea oovered hereby all and singnlsr, includin~ all aad singular the income~ pmfita, ~asues, and reveauea irom evhat- ever eouroe denved~ each and every of which• it be'~ng expreesiy underatood is hereby mattg~g~ed ae if specifically set forth and descnbed in t~?e gcanting an~ hsbsadum cl~usea bereof. ~uch appointmmt ahall be made by such court ~a an admitted equity and a m~tter of abeolute rigLt to said Mortgagee~ ~nd writhout refereaoe to ; the adequscy or inadequacy of the value of the pmperty mortgsged or to the eolvency or insolvency of said ` Mortga~ r or tLe defendsnts. 3uch rents pmfita, moome, ~ssuee, aad revenues ahall be applied by such receiver ~ aa~ording to the lien of this mortgag~e an~ the practice of such oourt. In the eveat of any default oa tLe part of the Mortgagor herennder~ the biortgag~or a~reea to gsy to the Mo on demaud aa a reasonable monthlv rental for the premisea an smount at least eqmvalent to one-twelfth oi theaggregste oi tLe trrelve monthly ~ installmenta psyable in the then current year plua the sctual amount of the annud ta:es, seeeesmenta, ~vster rstes, aad insuranoe premiums for auch year not oovered by the storesaid montLly paymeuta. 11. In the event of any breach of tbis mortgag~e or default on the part of tLe Mortgag~or, or in the event tLst any of said sums of money herein referred to be not pmmptly and fully pud aooording to tLe tenor hereof or in the event that each and every the stipulations, agreements conditions, and ooveaants ot ssid note sn~ tbis mortgage , are not duly, pmmptly, and fully performed or i~ tLe Mortgsgor be adjudicated bankivpt or made defendant in s bankr~ptcy or receiverahip pmceedingai tben in eitber or any such event, the said aggre- gate sum mentioned 'm ssid note tben rem unpsid~ vnth intereat accn~ed b thut tame~ and ~Il money secured herebq a6all become due and psyab~orthaith, or thereatter, st t,Le option of said Mo ~ as e fully and oomp~etely as if all the said auma of money'were originslly sf,ipuLted to be pud on such sy, an~- tLing in said note or ia thiia mort~age to the oontrar~ notwithstanding; and thereupon or thereafter, st the option of said Mortg~gee, without not~ce or demand, suit st lsw or in equity, may be pr~oeecuted as if all znoneva secured hereby bed matured prior to its institution. The Mortgagee may forecloee tbia mortgage, as to tbe amount so declared due and psyable, and the eaid premisea shalll~e eold to satiafy sad p~y the same tog~et~?er with coats e:penses, and sUowances. In case of p:rtial forecloeure of this mortgage, tbe mortgaged prem~ses shall be sofd aubject to th~ continaing lien of thia mortga~e for tbe smount of the debt not t6en ud e and i~npaid. ~ In suc6 ca9e tbe provisions oi tLis pe~ragraph m~y agam be svaled oi thereaiter from time to tune by the " Mortgagee. ~ 12. No ~vaiver oi any oovenant herein or of the obligation secured hereby ahsll st any time thereaiter be ~ held to be s~raiver of the terma hereof or oi tbe note secured hereby. 13. 1'he liea of this inatrument ahsll remain in fuU force and effect during any postponement or extenaion ~ oi the time of payment of the indebtedneas or my part thereof secured henby. - 14. Thia mortgage ie given to eecure the purchaee money, or ~ part tLereoi, of tLe lands herein deecribed and is esecuted and delivered uontemponaeoualy with the deed therefor. 15. H tLe Mortgagor defsult in my of the oovenaats or agreements oontsined herein, or in said note, then the Mortga~r,e may perform tLe asme, and aIl expenditures (including reaeonable attorney's fees) made by t6e ~ Mortgag~ee ~n so dom' ~s6all dra~r interest at the rsts pmvided for in the principal indebtedness, snd shall be repay s~ble thirty (30) dsys sfter demmd~ and, together witL interest aad oosta accrued t6ereon, a6all be secured .Y~ by thie mortgage. ~ 16. IIpon the request oi tbe Mo the Mortgagor shall ezecuta aad deliver a aupplemental note or notes for tbe sum or swms advanced b~Mortgagee for the alt~eration, moderniution, impmvement, main- tenanoe, or npair of said premises, for tuea or asseaements against the same and for any otLer purpoee sutlwr- ized hereunder. Ssid nota or notes e6all be secured hereby on a puit~ with and as fully as ~i tLe advanoe evideaoed tLereby were iacluded ia the note first dacribed above. Said supplemental note or natea sh~tl beu ~ . LL ~ w , . , _ _ - .~~;F r