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Home My WebLink About1264 the deficiency. Such payment shall be mede within thirty (30) days atter written notioe irom the ~lortgegee ; stating the a~nount oi the deficiency~ ~v~ich notic~ m~y be Riven by mail. It at any time the Viortgagor aha~l tender to the Mort~ee i~? acrnrdance with+the provis~ons ot ~he aote aecured hereby~ tull paycnent of the e~tire indebtednesa repreaented thoreb~•, ~he :liortgagee ss truatee ahnll, in oomputing the amount ot such indebtedness, credit to the account ot the Tsort,~a~or any credit balunce remei~ing under the pmvisions oi (s) ot said paragraph 2. It there shall be a default under any ot the provisiona of this mortgsge resulting in a public sale of the premises covered hereby~ or ii the Mortgagee acquires the property otherwise s[ter default•, the Mortgagee as truatee ahaU epply, et the time of the commencement of such proceedinga or st ~ the time the pmperty ia otherwise scquired~ the amount then remaining to credit oi Mortgagor under (s) ot para~mph 2 preceding as w credit on the intereat accured and unpaid and the balance to the principal then remauimg unpaid on eaid note. . 4. He wiIl pyr aII ta~oe~, aeeeee~ents. w~tee rates, and ot6e~ ~oveeannen;al oe munieiPal~-Qh~~'~e0. 6ae~. or impoeitions, for wLieL provis~on haa not been made bereinbefore~ and in default thereof the Ddortg~ee m~y p~y !6e ~~me; ~nd t6st~ Ls will pcoonpt~y delive~ !he o~cial reoapt~ t~hec+efor to the Mort~ea. b. He will permit~ oommit, or suQec no was`e. impairmeik or deteriorst~ion of said property o~~ay ~aet thereof i e~oept rawonsble wesr snd t~ess• i?nd ia ths ev~eat ot ths iailure ot tbe Mort6egor to keep the buildm~s on eaid ~ p~emises and thoee to be erecto~ on edd premiees, or imgrovcnnents thereoa, in good npsir the Mortgagee mRy ~ m~lce wch repairs aa ia ite disoretion it m~y deea4 neoeseary for the P~'oP~ A~n?ation thereo~, and the full amouaL ot e~?ch and every suoh p~yment ehall bs dus and p~ysble thirftiY C~0) d~yrs aft~ de:naad, and ehs11 be secured by fbe lien d tbis mo~e. 6. He w311 pay ail snd eia~uLr tbe oosts, aad eocpenses. ineludina r~asonsble Lwyer's fees, and oosts at abstracts of title~ inourred or paid ~t aqy time by~e ortg,~~ee becsuee of the fsilure on the part ot the Mortgagor P~P~Y P~orm the a~eemenls:and ouveasats of e~id promiee~ry note sad this mort~age, and eaid ooets, charges, ezpenees ei~ali be imanediste~jr due end p~ysble and ahsll be eecured by the lien of f6ia mortg~ge. Y. Ha will oontinuoue~ maiatain hassini insuranoe, oi such type or t.ypes and smounts as Mortgsgee ma~ fe+om t,ime to time require, on t~ improvements now or heresiter on esid pnmises and escept ~vhea pn,yment tor all aucL premiums L~e tLeretiofore beea ~de under (s of paragcaFh 2 hereoi ~e will pay promptly ~vhsn due any premiums therefor. All i~uranoe aball be car~ in oompaaieB approve~ b~ l~iortgagee and ttia poli- ci~es and renewale thereof sLall be beld by Mortgagee snd have stisched thereto loes payable clwuses in isvor of - and in form acxeptsble to tha Mo In evenL of loes he will ~ve immediate notioe by mail to Mortgagee~ aad Mortgagee msy make,proof~~ if not made promptly by Mortgagor, snd each inaurwcs oumpany ouncerned ia hereby~ suthonzed and directed to make p4yment for such loes directly to Mort~taQee instead of to Mortgagor aad Mortgagee joiatly, and the insunnoe prooeede, or aqy part thereof may be app7ied by I?iort~ gagee aL iLs option eitLer to the reductioa of the indebtedneea hereby secured or to t~e restoration or rep:ir of the pmperty dama~ed In event of foreclosure of tLis mortgage or other trsnsfer of title to the mortgaged ~+operty in eztingu~aLment oi the indebtednees secured hereby, a~l right, title, and int,erest of the Mortga~or m and to aqy i~urance policies then ia foroe aLall paes to tLe purch~ser or grantee. ~ 8. He will not ezecute or file of n~cord any instrument which imposes a restriction upon the sale or occu- psacy of the pmperty deacribed herein on the basis of rsce. oolor, or creed. ~ 9. If the premises, or any part thereof. be condemned under the power of eminent domaio, or acquired for a public use, t.he damages awarded, the proceeds for the taking of, or the consideration for such soquisi- tion, to the extent of Lhe full amount of the remaining unpaid indebtednesa secured by this mort~age, are hereby assigned to the Mortgagee, and Lis heirs or ass~gns, and ahall be psid forthwith to said Mo -~agee or his assignee to be applied on account of the last maturing iastallments of such indebtnesa; provided, ow- ~ e~•er, the Mortgegee or his ass~gnee, may at his discretion pay direct to the Mortgagor, hia heirs or assigns + any part or all of such sward; provided, tha~ if the loan is guarantced or insured, the oonsent of the guaran- ~ tor or inaurer is obtained in advance of saidpa yment. 10. The Mortgagee msy, st anp time ~en ~ding s suit upon this mortga~e, apply.to the oourt hsvin~ jurisdic- ~ tion thereof for the appomtment of s reoeiver~ and such oourt ahell forthvrnth a~point s receiver of ~he premises 2 covered hereby aU and singular, including aU and singular t6e income, pmfita, ~sauea, and reveaues frora ~rhat- i aver source denved,. each and every of wh~cL it being expresaly understood, is hereby mortgAged as if specificeAy ~ eet forth and descnbed in the granting anc~ 6abendum clsuses hereof. Such appointment shall be made by ; such court as an admitted equity and s matter of absolute right to said Mortgsgee~ and without referenoe to i ~ the sd uac or inadequsc of the value of the pmperty mortgeged or to the solveacy or insol~ency of said ~ Mortga~gor or the defendsntys. Such renta, profita, income, issues, snd revenues shsll be applied by such receiver ~ according to the lien of thia mortgage and the practice of such cwurt. In the event of sny default on the part ~ of the 141ortgagor hereunder, the 111ortgag~or a~rees to psy to the Mor agee on demand as s reasonable monthlv rental for the premises an amount at least equivalent to one-twelfth of theaggregate of the twelve moathly installmenta payable in the then current year plua the actusl amount of the anaud ts.~es, esse,ssments, weter rates, and insurance premiums for auch ye~ not o~vered by t6e aforesaid monthly psyments. 11. In the eveat of any breach of t6ia mortgage or default on the part of the Mortgag~or, or in the event thst any of seid sums of money herein referred to be not promptly and fuIly paid acxording to the tenor hereoi, or ia the event that each and every the atipulstiona, agreementa. conditiuns, and covenanta of said note and ~ this mortgage, are not duly, promptly, and fally performed or if the Mortgagor be adjudicated banl:rupt or macle defendant in a bankruptcy or receivership proce~iings; then ia either or eny such event, the ssid aggre- gate sum mentioned in ssid note then rem unpaid, with interest accrued to that time, and all money secured hereby, shsll become due and psyab~orthwith, or thereafter, st the option of said Diort~gagee~ as fully and completely as if all the said suma of money wer8 originslly atipulsted to be paid on such dsy, anr- thing ~n said note or m this mort~age tp tbe oontrar~? notwithstanding; and thereupon or theresfter, st the option of said Iliortgagee, without notice or demsnd~ suit at lsw or in equity~ may be prosecuted as if all moneva eecured hereby had mstured prior to ite institution. The Mortgagee may foreclose this mortgage, as to tf~e ; amount eo declared due and payable~ and the seid premisea shsll be sold to satiafy snd pay the asme together with costs ezpenses, and allowances. In case of partial foreclosure of this mortgage , the mortgaged prcm~ses shall be so~d sub~ect to the continuing lien of this mortga~e fur the amount of the debt not then due and nnpaid. ~ In such case the pmvisions of thia paragraph msy aga~n be svsiled of thereatter from time to time by t6e - ~ Mortgagee. ~ 12. No waiver of anp covenant herein or of the obligstion eecured hereby shsll at any time tl~erea[ter be held to be a waiver of the terma bereoi or of tbe note secw~d hereby. 13. The lien of this inatrument ahall remsin in full force and effect dwing uny postponement or extension of the time of payment of the indebteduees oc any part thereof eecured hereby. 14. This mortgage ia given to secure tLe purchase money, or a part thereof, of the lands herein described : aad is eaecuted and delivered contemporaneously with the deed therefor. - 15. If the Mortgagor defeult in any oi the covensnts or agreement8 contained herein, or in said note, then ; the Mortgagee may. perform the same, and all eapenditures ~mcluding reasonsble attomey's fees) made by the ? Mortgagee in eo dou~ ahall draw inteceat at the rate pmvi ed for iu the ptu?cipal indebtedness, and sl~all be ~ repaya~ble thirty (30) dsya aiter demand, and, together with interest and costs accrued thereon~ ahell be secured ; ~ by this mortgage. ; 16. Upon tLe request of tLe Mo ag the Mortgagor ahaU execute and deliver s supplemental note or ; notea for the sum or suma advanced brythe Mortgsgee tor the alteration, modernization, impmvement, mnia- tenance, or repsir of ssid premiaea, for taxes or aseeesment$ against t6e asme snd for any other purpose author- € ized hereunder. Said note or notes a6all be secured hereby on s parity with and ss fully as if tl~e advance evidenced thereby were included in the nota fust d~b~bqve. ~?y~~~lemental note or notes ahaU besr ~ BMd IO l PACE1~ ' - - _ - _ - - - - - ~ _ - - ~ ' , Y;