HomeMy WebLinkAbout1567 tt~e deficiency. tiuch pay~ne~it st~ull be msde ~r3thin tt~irly (30) `dyys ~?tter vrritten notice Iroip ~the \iartgagee
atating the aarount ot the deficiency~ which notece niay be.Kiveo by mail. It at sny time Wie ~iartg~?g~or
sba~l tendee to the :Nortg~ee in acconlunce with the pror~ons ot the note secured hereby~ Iull paymoa~
ot the entire indebtedn~s repreaented tl~ereby~ the ~iortgaged us truatee shall. iR computing tha amouat of
surh indebtedness. cr~lit to the account of the tloctg~or any credit balunc~e remuir~ing under the pmvisions
oi (a) of said par~taph 2. If there sh,?U be s detuult under any ot tha pmvisions ot thia inart~age reeultan
in a publie sale of the pren~ise~ covered hereby, or ii the Mortgagee acquires the pmperty o~hecwise attsgr
detault. the 11ort y' ' ~
~uugee ~s truatee ahaU spply, at the time of t6e comntencement o[ such proceediags or st
the time the pe+operty ~s otherwise acqnired~ the amount then remaening to credit of ~~ortgegor under ot
para$rsph ~ preceding aa w credit on the intereet secw~ed and unpsid and the balence t,~ the principvl t6en
temuning unpaid on s~id nnte,
4. Hs .~ilt py? ,~H t.~ce~, .ere.~m„~:~a„ .~.tee ~.t+e~, ana othee ~o.~nmeaw ae m~n~Cip.t ehan~a~, fine~ or
impoeitioas, fo~ wLich pe~oviaion bas not 6~ ma+de bereinbefore, a~qd in default therevf tbs Mutep~ee a~yY R~V ~
a~a~a; aad thnt bs will prompt~j? deliver fLe oSeial reoeip~s t~eeefor to tbs Mo~t~a~ee.
6. He will p~ermtt, oommit, or eu~Ier no waete, im~airmea~ or deterio~ration at a~id p+upertj? oeaqy ~tt ll~ereot
eaoeept reaeonsbls wear ~ad teas• and in tLs evant ot t6e i' ure of t6e Mart~oe b keep tLe buildmds on eak~ ~
p~mises and those t~o bs erecta~ oa Mid peemiees, or improvwuenta th~eon, in aood repair the Mostgagee m~y '
atma~,hsu~repaiis as ia its discietion it m~y deem neooaeary for L6e~Q~oper preeervation theieo~ aad the fult aaiwua!
very suah p~ymeat sLall bs das and i~Y+~ ~~1? ~4Y~ afke demand, anil ~haU bs ~ecuted b~+ ,
t~he lien of tLi~ ~ort~s. ;
6. He will p»y a11 and dnsuLr tbe oost~ ~ aad eo~penees, indudins reasonabk l~?wyera fees. and oosts
et abstracts of tit~e, inairred or paid st ~?qy time by Mort~ee bea?use of the faiture on tae psrt af the Moct~r ~
p'omPW' ~ i~
~r to perfom~ tt~e a~+eemeata iwd oovensnts af said promiesory note snd this mortge~e, snd aaid
ooste, chseg~s. a~ ea~p~ shaU be immediste~? due and p,yabb and ahali be eecured by the lien of tLis mort~e,
7. He w~l o~ntinuouab m~intaia Lasard insuranos, oi sucL t~pe or types and nmounts as Mortgagee m~~
from time to time require, on tLe improvements now or het+e~?tt~ on said premises and e~oept when p~ymen0
!or all such premiums has theretofore been mads nnder .~(s) of pa~agraph ~ hereot ~e rvill pay promptly wrhea
dua any premiums therefor. All inauranoe ehall bs carried in oompanue ~PFrove~ by 111o~~ and tha poli-
cies and reneqals thereof aLall be held b~ Mortgages snd h~ve attached thereto loes payable crauaes ia tavor oi
snd in form aoceptable to the 11iQ~~ In event of loae he will give immediate notic~e by mail to Mortgag~es,
and Mortg~ee may ma~e proof o it n~t made ps+ompt~y by Mortgag~or, aad e~cb inauranoe compsR7
ooncerned ia het+~b~r~ authorired and directed to ma1~e payment for such loas directly to Mort~a~~ instead of
tio Mortgr.~or and Mortgy~ joint,~y, and the inaururoe proceeda, or aqy part tbere~i moy be app7ied by biort-
gagee st its option either to the reduction ai tha indebtednees hereby secured or to t~e reatoration or re
the pmpe~ty dama~~ In event of ioreclosure of this anortgage, or other tru~er of title to the mor~age~d
proPerty m e:t,u~gwahment of the indebtednees secured hereby,-all right~ title, and interesti of the Mortgegor
ia and to aoy insuranoe poli~s t6en in foroe ahali p~ to the pt~mLaser or grantee.
8. He will not ezecute or Sle oi record any inatrument w6ich imposr,s a restrictioa upon t6e ssle or cecu-
p~ncy of the property de~cribed herein on Lt?e baeis of race. color~ ur creed.
9. Ii the prem~ses, or any gart thereof~ be condemned under the power of eminent domain, or acquired
for a public use, the damages awarded, the procceds for the taking of, or t6e consideration for such acquiai-
tion, to the extent of the full amount of the remaining unpaid indebtednesa secured by this mor[~age, are
hereb~• assigned to the Mortgagee, and his heirs or assrgns, and shsll be paid forthwith to eaia Mor-tqagee
or his ass~'gnce to be applied on account of the last maturing installments of such indebtness; provided.~6ow-
e~ er, the ~iortgegee or his a,gsignee, may st his discretion ps?y direct to the Mortgagor, his heira ~r assigns
, any part or all of such award; pmvided~ t6a~ if the Ioan is guatanteed or insured, the oonsent of the guaran-
tor or wsurer is obtsiued in advanee of saidps
yment.
10. 1'he l~iortgagee may. s` any time ~eadt'og s suit upon tn~s mort~gage apply.b the oourt h~vinK jurisciic-
tion t6ereoi tor the appointment of s t~eceiver, and such oourt a6sU fort6wit~ a~point ~ receiver of the premises
oovered hereby all and singular, includin~ alt and singular the income, pm6ts, isaues, e~nd revenues from n
hat-
ever snw~ce denved, each and every of wWeh it being eapresely understood, is hereby mortgaged as if ~pecifically
set forth and degcribed in the granting anc~ hsbendum clauses bereof, Such sppointment shall be raade by
suc6 court as an admicted eqwty and s matter of absolut~ rigt?t to said 4lortgagee, and withont refetence to
the adequacy or inad~quacy of the value of the property mortgsged or to the aol~ency or insol~ency o! said
Mortgagor or the defendants. Such rents, pro&ta, inoome, issuea, and revenues shall be spplied by such receiver
sccording to the lien of this mortgage and the prsctice of auch court. In the event of any default on the part
of the ~iortgagoi hereunder, the Afortgagor s~rees to pay to the ~fortgagee on demand as a reasonable monthlv
rental for the premisea an amount at least equ~valent to one-twelfth (Sf,) of theaggregs te of the twelve monthlv
installments pay able in the then current year plus the actual amount of the annud ts~es, a~sameats, water
rates, and insuranae premiuuos for such year not oovered by the doreasid montWy p;yments.
11. In the event of any breach of this mortgag~e or default on the part of the Mortgagor, or in the event
tLat any of said sums of money herein refen~ed to be not prompdy and fuUy psid accord'utg to the tenor hereof,
or in the event that each and every the atip ulutions, agreements~ conditiuna, and oovenants of said note snd ~
this mortgage, are not duly~ promptly~ and fully performed or if the 1liortgagor be sdjudicated banl:nipt or }
made defendant in s bankruptcy or rec.eiveishi~ pmceedings; then in Either or any sach event, the said
gate sum mentioned iue said note then remainu?g nnpaid, with intereat acctued to thst tiane~ and all mon
y
secured hereby, shall become due and psysble forthwith, or thereaiter. st the option of said 1liortgagee~ ss
fully and completely as if all the said atu~ns of money were originally stipnlated to be paid on such day, ant-
thing in said note or um this mort~ag~e to the contrat~ not~vithstanding; and thereupon or thereaiGer, et the option ~
of sud :liortg~gee, vcithout notice or demand, smt st law or in equ~ty~ mav be proeecuted us it all monevs ~
secured hereby had mstured prior to ita inatitution. The Mortgagee msy foreciose thia mortgage, as to tf~e
unount so deciared due and paysble~ and the said premises shall be eold to satisfy aud psy the sarue together
with c~osts expenaea~ and allowances. In case of psrtial foreclosure of this mortgage, tbe mortgeged prnmises
ahall be so~d subject to the oontinuing lien of this mortgs~e fur the smount ot the debt not th~n due end ~~npaid. -
In such caae the provisions of tbis psragraph may again be svsiled of thereafter imm time to time by the ~
Mortgsgee. ~
12. No wuver of any covenant herein or of the obligstSoa eecured hereby ahall st eny time thema(ter be
Leld to be s waiver of t6e terms hereof or oi the note aecured hereby.
13. The Uea of this iastniraent shall remain in fult force and e8ect during anp po~tponement or extension ~
of the lime of payment of the indebtedneas or any put thereoi secur~ed hereby. ~
14. This mortgage ia given to secure the purchase money, or a part Wereof~ of the lands herein described
and is eaecuted snd delirered cont~emporauroualy vnilh the deed therefor.
15. Yf tLe
Mortgagor detault in any ot the oovensnts or agreementa contained Lerein, or in said note, then
tLe Mortga~ee may perform the same, and all expenditures ~mcluding reasonsble attorney's lees) mede by the i
Mort~agee m eo dou?g ahall dr~?w interest at the rate pro~~i ed for in the principal indebtedness, ~nd shsll be :
repaya~ble thirtp (30) daps af ter demand, aad, together wnth interest and coats accrued thereon, shall be secured '
by t,his mortgsge. ~
16. Upon tLe request ot tLe Mortga~ee the Mortgag~or shaU execute and deGver s supplemeatai note or
aotes ior t,be aum or aums advaaced by tfie Mortgagee Ior the alteration~ moderuiution~ impmvement, main-
~eaanoe~ or rcpair of asid pc+emiaes, for taaea or aseesarnents against the same and for sny other purpose audior-
ised Lenunder. Said note or notes shaU be aecured hereby on s parity rrith and as fully as ~f tl~e sdv~nce !
eo:deaced thereb were utc~uded in tbe note fint descri d s lementat note or notes shall bear
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rK ~t7 FAf,[~~~tJ
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