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Home My WebLink About0702 tlie deficiencp. ~uch Pa utci~t $l~alt be ~usd~ wittun thirty (3Q) days a[ter wnttea nouca ~ru~a ~ne aaur~g.,~ao atating the au~ount oi t~e deficiency, v?hich notice tnay be given by aiail. Ii at anv time the ~tortg:.gor ahs~l tender to the ~lortgagee in acrnrdance with the provisions ot tha note secuteci hereby, fuU pi?yman~ ot the entire indebtedne~ represented therehy, the ~tortgagee ss truatee shsU~ in c~omputing the smount oI sucfi indebtednesa~ credit to the sccount oi the ~iortga~or uny credit balence rernai~i~g under the pmvisioas o! (s) ot asid parAgraph 2. It there ahall be s default ander sny of tha proviaions ot thia mortgage resultin in a public sale ot the premiees rn~•ered hereby~ or it tbe :1Sortgagee acquues t,he property otherwiae atte defsult~ the :~iortgagee as trustee ehali spply, at the time of the commencement of auch pra:eedinga or at ~ the time the pmpertp ~s otherwise acquired~ the amoun~ then remuining to ~redit ot \iortgsgor uadee (s) of ' psrs~reph 3 precedmg ae s~ dit on the intereet sccured snd unpaid and the bslance to the principal ~,hea ' remau~mg unpsid on said nok , i 4. He wW pay all tu~oe~. aeeesemeatq, wrt~ee rat~, and ot6er ~overnmeatal ot municipal eh+e~ee, Rne~, ar Impodtioas~ for which provision h~+e not been m~de hereinb~ore, and m detsult thei~eot tbe MortBagee n~Y P~Y ~ a~e; aad that bs will PromPW? deliver the oH'icial reoeipb lherefor to the Mort~gee. 6. He will perndt, oommit, or eu~er ao waate, impairmeat, or deteriorstion of eaid ProP~Y ~~y ~ thereof e~oept re~sona6le weat aad teu; and in the event ot the f~ilure of the Mort6,Rgor to keep the buildwgp on aaic~ pre~n~ses and thoee to bs erected on eaid preanises~ or unprovr.ments theceon, in good repair the Mort6~ ~Y ~ and e~ as ia lts diecretion it may deem neoeseary far tbe P~'oP~ P~atiaa thereo~, and the fuU amount tbe lien of t,ti ~mo ~t shall be due ~?nd P~Y+~b ~Y d~U?s Jt~er demand, ~ad shall be secured by 8~. He will psy all and e~ngulu tbe oosts„ GLu~ae, sad e~peases, indudina reaa~nabM t~wyet'e t«s. and ooste - ot abstiacts of 1itb, incurnd or paid at any time by tbe Mortg~+ee becauee of t~e failura on the part of the Mort~s~o~ ~s~, and t~o paform the agreeme~~ a~ ts d aaid promieeory nocr aad this mortgage~ and eaid e~cp~'-nses eha11 be immedis p?yable i?nd ahall be secured by the lien of t~us mortg~ga, 7. He will oontinuoue~yr maintain haurd 'msur~noe, oi such type or ty pee and amounta ss Mortgagee m~ - trom tima to time require, on tLe impravements now or h~ereaiter on eaid premises and e.~oept whea p~ymenC tor all euch premiums h~,s the~ebofore beeu mada under (s of paragrapL 2 hereof ~e will pay pmmptiy when he o dua auy preminma tbere~far. All insura~?oe Bhall be carri~ ia oompamea approvec~ by 111ortgs~ee and the polr cies and renewAls tLereoi shall be ~eld by Mortgagee ~ad b~ve attached thereto loee psy~ble cGuses in isvor t+f and in form aoceptsble to the Most~ag In event of kas he ~vill give immediate notice by mW to Mortgagee, and Mortgagee may make proof oi Io s if not made promptly by Mortga$or, and each insuranoe oompaqy ooncerned is hereb suthoia~ed snd di~ected to make payment for such loas du~ectly to Mort~a~ee inatead oi to Mortgagor and ~ortgagee jointly~ and the uuuri?noe proceeda, or a~y part thereol may be app7ied hy biort~ gagee st its option eithec to the reduction of the indabtedneee hereby eecured or to t~e restorRtion or re the pmpe~t~ dsms~ed. In eveat oi foreclosure of thia mortgage or other tranater oi title to the mor'~g~age~d property m extanguiahment of the indebtedneee eecured hereby, a~l righ~, title~ snd interest oi tbe Mortg~gor ~a and to ~qy insurance povcies then ia force ahall pass to tha purchaeet or grantee. 8. He will not execute or file of record any inatrument which imposes s restriction upon the sale or occu- pancp of the property de,acribed herein on the bseie of rsce, uolor, or creed. 9. Ii the premises~ or ~ny part thereof, be condemned under the power of eminent domain, or acquired for a ublic use~ the demages awarded~ the roceEda for the tsking of, or the consideration for such aoquisi- tion, o the extent of the full amount of the remaining unpaid indebtedness secured by this mortgage, are hereby assigned to the Mortgsgee, and hia heir$ or ass~gns, and shsll be.'paid forthwith to said Mortg or his assign~ee to be applied on account of the last maturing inatallments of euch indebtnese; pmvided,-h~ow- e~ er~ the Mortgagee or his assignee, may at hia discretion pap direct to the Mortgagor, his heira or aesigns any part ur all of such award; provided~ that if the loan is guarsnteed or instu~ec~, the consent of the guaran- tor or insurer is obtained in advance of said payment. ' 10. The Mortgagee msy, at anp Lime R~encling a suit upoa this mortgage~spplq to the oourt hsving j~irisdic- tion thereof for the sppointment of a receiver, end sach court shsll fortfiwi a~powt s receiver of the premises oovered hereby sll u?d ainguiar. includin~ all sad singular the incame~ profits~ ~asueg. and revenues irora vrhet- ever source denved, each and eveiy of ah~c6 it being expressly uaderatood. ia hereby mortgaged ~?s if specificslly set forth and described in the granting an~ habendum clsuees hereof. Such appointment shall be made by such court as a~n admitted equity and s matter of sbeolute right to s~id ~iortgag~ee~ and without referenca to the idequscy or insd~uacy af the value of the property u~ortgag-od ar ta !he aolvencp or insolrency of said Mortgsgor or the defen anta. Such rents, pmfit8, ~noome~ ~saues, and revenues ahsll be applied by such receiver accord~ng to the lien ot this mortgs~o and the practice of suc6 oourt. In the event of any defautt on the psrt of the Mortgag~or her~undet~ the 3lfortgagor s~reea to pay to the :4iortgagee on demand a8 a reasonable monthlv rental for the premiaea an amount at leas~ eqwvalent to one-twelfth (S{,) oi thea~ga te of the twelve monthly inatallmenta psyable in the tLen curnnt year plua the actual smount of the annual te?aea~ assessmente, wster r~tea, and insurance premiwna for such yeu not oovered by the atoreasid monthly psyments. 11. In tLe event of any bresch of thia mortgeg~e or defau2t on the part of the :1+iortgagor, or in the event thst say of said eums of money herein referred to be not pmmptly and fully psid sccording to the tenor henwi or in the event thst each and every the stipulstions, agreeraente conditions. and covennnta of asid note sn~ this mortgage, are not duly, pmmptly~ and fully performed or i~ the Mortgsgor be adjudicsced bsnl:rupt or made defendant in a bankruptcy or r~eceiosrs~u~r proceeding~; ~hen ia either or sny auch event, the asid aggre- gate sum mentioned in said ~o~e then rem unpsid, with intereat accrued to thst time~ snd sU mo$ey secured hereby shall became due ancl psyable orthwith, or thereafter~ at the option of said 11fortgag~ , es fully and comp~etely as it aU the said sums of money were originally stipulated to be paid on euch day~ anr- thing in said note or m this mortQage Lo the rontrar~? notwithatsnding; and thereupon or theresf i~er, st the option of said Mortg ~ without notice or demand~ suit at law or in equity~ msv be pt~osecuted as if all monevs ose secured heseby~ud mstured prior to ita institution. 1'he Mor agee msy foreclose this mortgug~e~ as to tf~e amount so declared due and payable, and the eaid premiees shall~ sold to satisfy aad psy the same together with aosta ezpenaes~ -aad allowaaces. In csse of psrtial foreclosure ot this mortgage~ the mortgaged prnmises ahsll be eold subject to the continuing liea of thie mortgs~e for the smount ot the debt not then due sad unpnid. L? such case the proviaions of this paragraph msy agaui be svailed of thereafter from time to time by the Mortgagee. 12. Na waiver of any covenant herein ar of the obligstioa secured hereby shRll st eny time thereatter be held to be s waiver of the terms nereoi or oi the note secured bereby. 13. The lien of this instrument shaU remain ic full force and effect during ~ny postponement ar extension oi the time oi psyment of tho indebtedness or any psrt thereof secured hereby. 14. Thia mortgege is given to eecure the purc~ase monep, or a part thereoi, of the landa herein described and is euecute~i and delivered oQntemporsneouely with the deed t6erefor. ~ 15. It the Mortgagor default in anp of the covenants or agreemeata contsined herein, or ia aaid note, then the Mortgs~ee msy.pertorm the same~ and all expenditures ('including reasonsble attorneq's fees) made by the Mortgagee ut eo dowg ahell drsw interest at the rate pmvide~l for in the principal indebtedness, and sl~ull be repsy ~able thirty (30) days sfter demand~ and, together with interest an~ coats accrued thereon, ahall be secured by this mortgage. 16. Upon the requesR of tbe Mortgagee the biortgagor shall eaecute snd detiver s aupplemental note or aotes for the sum or sutns advanced by the Mortgsgee for the alteration~ modemiastion, improvement, msin- tenance, or repsir of eaid premiaes, for taxes or aseees~nenta againat the same and for any other purpose autlior- is~d hereunder. Said note or notes ahsll be secured ~ pa~rity wit~ d as ful[y as if tNe advance evideaoed therebq were included in the note first descri ~,~~T sid ental note or notes sl?all bear V - - - q~~ - ~