HomeMy WebLinkAbout0793 TOC~ pTl~l all additioas, replac~at• and isprovc~enta to any of the
faragoiag, ond al~ and ~~::gular the teneseats, hereditaaent~ and appurtenancQ4
thereto belouging, and the seats, issuea and profita thsraof, aAd slso all the
estate, rigdt, titLe, interast, hvmeatead, dowes, ssparate eatate, poeoeeeioa.
clsin~ aad de~nd vbateoev~r, as well in law aa in equity, of the eaid 1l~rtgagor
in aad to the aortg~aged groperty aad every part thereof ~rith tha appurteAancBS,
specifically including all rights and equitiea of redaaaptioA, all of vhich ase
hereby expresely ~aived. (All of the foregoing, vhether caasiating entirely of
real property a~r eatirely of c.battels, or of both real propexty and ct~attel8,
is hersi~n fo~r ccav~eaience called tha 'lsortgaged propeYty").
?0 BApB At~ TO KOIa tbe eaid ~ortgeged psoperty And every part thereof
uato tne l~brtgagee fo~ever.
PBONID~BD AIiIAYS, and this awrtgag@ is oa the @xpzess condition, that if
the Zbrtgagor shall pay or cauee to b@ paid all of the moc~eys mentioc~ed in said
''Obligatioa" and the interest theseon, all at the tises and ia the snaaer as
therein agr~eed Lo be pe?id, accard3ng to the true intent and meaning thereof,
~nd shall pay all other sune provi~ed to ba paid by thia mortgage, and eha13
- perform and abide by all the caveasate and agreements hereia and in said
"Obligatica" contaiaed, thea these preeente shall be void aad the estate h~rc:-
in and hereby granted ab~ll cease and determiae.
AND SAID MORT('~l1GOR dces hareby cav~enant with the Mortgngeo that said
t~brtgagor, at the time of e~aacutioa and delivery of these presente, is tha
absolute oWaer of.and in pc~s sessian of aaid mortgaged property; that he hae
a good right, full pa~rer aad lawful authori~y to coavey tbe same in the m~a~rer
and fore~ herein se~ forth; th~t eaid prc~perty is free aad clear of all liens
of Whatever nature, except aa spacifical2y mentioaed herein, and liortgagor
fully warrants the titls to said propesty and ~rill defend the same agoinst all
lavful cl,sims and demnads ex~cept from the werrantiea contained in the encum-
brances herein specifically set forth.
AND 1~ 1~tOBTGA(~OR does hereby further covenant, promise and agree vith
the Hortgagee, ita euccessors and assigas, as follvws:
l. lsortg,agor vill not caamit any vaste, or Weak~en or i~mpair the secu~•
, rity of this mortgage; will pay, prior to delinquency, all ta~oes and aasessmatl~
levied or i~iposed on said property; vill keep the mortgaged prc~erty insured
in aoh anpner-and-in suah ~mount~•as M~rtgogee tiey-~ceguire; and will aot
remove aay c6aktelei if incl~sd fa t~i~ aox~BaE~~ f~or~, the premises vhere theq
are Uaw ~a#tuated, vitheut ~oja~gagee ~ s `ncitten ~cnaent.
( 2. I~a the evcnt of euit ~ox'~close this mDrtgage, tiortgagee shall be
entitled, a~ a matter of rigkt, vithout regard to t6e value of the mortgaged
property or tQ the so2veacy of Nortgugor, and vit6out notice, to tbe appoiat-
ment of e Beoeiver of the mQrt$aged propertq and the income and nrofita
thereof.
3. Ia the eve~t of Mortgagor's failure to pay ta.x~es, or to loeep the
premiaes iasured as required, liortga$ee may, at its option, but is aot required
to, muke.such paymeata, and t6e sums so advanced aba21 be repaid by li4rtgagor
with iaterest as psavided ia the "~ligatian", and seid sums so paid by the
I~ortgagee ahall be secured by this mortgage.
4. Ln the event of aay default in the terms of the ''~ligati~" or this
nortgage, Martgages nay, at its optLoa, declare the vhols indebtedn~gs secured
thereby to be 3~ediately due and payable.
S: Zhat no eYteaalroa os nodt~fcr~~ie~,of t~a.paqoeats to be node as
hereinabave set forth, aad no release of any part or parts of the mortg,agc:d
property, o~ of othes collateral eecuring the abrnre-described indebtedaess,
even t6ough nnde without canaent of the Ziartgagor, shall release, relLeve, or
diacharge the lbrt,g,agoac ftccs the ~payr~ent of a~cy sums herebq secured, and
lbrtgagee sball 6uv~e t.ha tight to release fron~the lien hereo~~aay portiai or
portioas of t6e mortg~a~ psoperty, ~e ~ot~t epl~atersl' held as setul3ty~ foP
eaid iadebtedriess, irreepective of'the value of the released~portiaa, without
sffectiag the lien hereof s~ to t6e. portion:.o~t` ~or,,tidi~. nctti, ~1~sOd; dbt~ttth-
staading ths fact tbat auch reLease or releasea aay be nade irithou~"tdt~led~e -
or conaent of the ?~rtgagor, ar of any Grantee or t~cantees of portioas of such
property theretofate aold. . +
6. This cwrtgage mp be forecloaed by Lha nortgagee ia,acco;~ace ~ith
, e;ther State or Federal lav ia force at the tiae such foreclosuse is iasti-
tuted.
~ ' ~ • g~c169 ~?cE s.787
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