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Home My WebLink About2861 of the Mort~a~ea become immedlateu? due aad pwable. wlthout Aotice. aad pcoaedinss mq? b~ Wdltuted b~? t!~ ldort- ~ee for tl~e recavesp thereot by lorecloaure o~ this Mort~a~e. ot fn W other m~aner Pendtted Dr l~Nr as tbe Mort- cl~re~ot this Mo~ tt~ Mort~a~ee ihW be all~ as a part ~ deb~tednej seatred he~ Uth~ ~a8or asrees W pR7?. W costs ana e:P~~es facurnd tn ooanectbn therewU4 ladudint re~sonabie attoraq?'a fae~, oat o! tttte and tax search and tl~e exterdon to date of aa abstraM oI tlUe or UW pollq: and 1n cw ach iore~loaare p*~oceed- lags are setUed before the coaaimnaatloa thereof or the entry oi iudpaeA~ nU? such ootts ~nd expen~s aad other charges so lacurred. mcludins a reasonabN attoe~r ~ fe+. Wull neverthelas be P~ ~~iort~ee or W part~ ia ln- terest. be1n~ the hl~hed pWder. rrWr be a purcha~er at aqy foredosure sal~ ~?W? electloe br the l[wt,~a~ee n berNn pro- vided for mq~? be exerclsed 1ma~edlatell ~Pon detaul~ ae at anY time thercatter. and aoWn~ stiW be oon~tiued W be a vordver ot such rlght unha evldeAOed by an lastrument in wdW~g to tAat eIIect dub? executed Dp tM S[ort~gee. TAe Mortgagor ~raives all rl~l?t of Aomested aad e~oempUon ~ranted bY the Oonstitutloa wd Lws a[ P7attd~. AND THS MORTGAGOR FUR1'~iER CONVENANIB AND AGREES: 1. 1b p4y the Princtpal lndebtednms wlth intenxt as in t~e note Pwvided. To pp? moatAb unW the Mortgagee. 1n additlon to and at the tlme end place for eae~ paymeat ot pdndpal and iaterest. an lnstalln?ent ot e~cA d the follow- 1n8 charges: (a) Tsxes and assessmentsr general or spedal. and all other charges levied or to be levfed ~tinst the premises. <b) Premiums to Decome due and payable for. ~nd to reaew. the iasurance on theulred irorn tl~to tlme IIre and such other hsra:ds„ casualtles and co~ntingenctes as hereia Provtded for or req The amount of the t+espe¢tlve montl~ lnstallmenb shall be equal to the amount of the annual respectlve cbarge next due (es estimated by We Mortga~ee). len W insWlments already pald therefor. divided by tLe number o[ monWy !n- stellmeats therefor becoming due not Lter thaa one montb prlor to tl~e due date at any such charge stW sdall be sub- ,~ect to tacreaae or decreaae to tt~ exteat requind to create as of a monthRy payment d~te oa tbe tate not less than oae tnor?W pdor to the due date oi any such cbsr8e. ~u amount suQtc[eut for the pqyment thereoi v?hen due and psyable. In no event shall the Mortgagee n~ce1e1n8 sach PaYment be WDIe for aqy iaterest on anp amount patd to it as herein requtred. and the raoaey so recetved msy be held with 1ts own tunds peadln8 PsYment or spplic~tion thereof as herein pmviaed, The Murtgagor st~ali furnlsh unto the Mortgagee at lea~t nfteen dsys before the due date an osicial statemeAt oi the amount o1 any taxes or a~nents next due. aad such Mortsagee shall pq? the above char~es to the ~nwunt oi the th~ unused credlt -therefor as and when they beoome aeverallY PeY~le. The Mortaagee uu~?. at fts option, pay any oi such char8es when W~Yable. elther betore or after they are delinquen~ without notice. or make advances therefor la excess ot the then amount oi credlt for said ci~arges. The exeess anount e?dnanced shall be immediate~Y due and pe~yable to the Mortgegee end shall be secured as an additlonal pr[ndp~i sum under tWs inst:umeat aad bear the same rate oi interest irom date of advancement as the prlnciPal indebtedaess. Aa oQidal recdpt therefor shall be conclusive evidence of wch psyment and oi tt~e validity of such charges. The Mortg~gee may apply credits hdd by it for the above charges, or any part thereof, on account ot anq deUnquent lastaliments oi princ[pal or fnterest or any other psyineats maturing or due under th[s lnstrament aad the amount ot credit extstlr~g at any Wne sM11 be reduced by the amount thereof paid or applled as heirin provided. The amount of the existing cndlt hereunder at tbe time oi any tranafer of the property shall without asslgnment thereot Inure to the beaeflt oi the suecessor owner oi the property and shell be applled under and aubject to all of the pmvLdons hereof. Upon the paYment fn full of the indebtedneas. the amount of any unused credit shall be applled to the paYment thereoi. The Mortgagee may collect a"late charge" not to exceed four cents (4c) for each ons doUar <tl•00) oi each monthly lnstallment pqyment requtred on the note and under thls Mortgage which is more than tiiteen (15) days in arrears, to rover the extra expense involved in handling deWrquent payments. 2 To psy. when payable, all taxes ana assessments. general or special, water r~nts and ground rents and all other charges whatsoever levied upon or assessed or placed a8alnst the ptemises. proviston for wWch has not been made here- inbefore. and wlll promptly deIIver the oHicial receipts theretor to the Mortgagee; to likewiae pay all taxes. aasesm~ents and other charges. levled upon or e.ssessed. placed or made agatnst this Instruthen~ or the indebtednea~ or any fnterest oi We Mortgagee in the premiaes or the obligatfons secured hereby. pmvided that the payment of any wch tax aasess- ment or charge bq the Mortgagor is not contrary to law or would not result In the psyment of an unlawtul rate oi inter- est on the indebtednesa herebY secured• In the event oi the passage after the date oi tbia [nstrument of any law of the State. or subdivislon thereoi. wherein the premises are sltuated, creatIng or providing for any tax, a~nent or charge which by the above pmviso Ls not to be paid by the Mortgagor, the indebtedness secured hereby together wlth interest due thercon, shall, at tt?e option oi the Mortgagee. become immediately due and payable, and in the event payment there- of fs not made forthwith. the Mortgagee may take or cause to be taken such action or proceedtng as may be taken here- under in the case oi any other default in the payment ~f the indebtedness. 3. To keep the bulldings and additions thereto oa or hereafter erected or placed upon the lsnd inwred against loss by Sre and such other hazar~ds. casuslties and ca?tinSencies. Including war damages if at any time a state of war exists or it appears W the holder oi the note that war is imminent, and in auch amounta and for such ~erbds. as may be requt~ed lrom Wne to time by the Mortgagee. and to pqy prompUq when due all premiums on such insurance, provldoa for pay- ment of wWch has not been made here~beforP. The polides ot insursnce shell have la~s pqyaole provlsions aoceptable to the Mortgagee and shall be delivered to and held by the Mortgagee. or as it may direc~ untll Ws Mortgage b satis8ed. Itenewal policies of insurance, premiams for which have been tully pald. are to be furntshed to the Mortgagee at least Sfteen days Prlor Lo the expi~'ation date of the insutar?ce thereby renewed. Tlre fnsurance ~t~all be wcitten in companles approved bq the Mortgagee: in no event shall the Mortgagee be held respon~ible for failure to pay for any insurance wi3tten or for any loas or dainage growing ont oi a defect in anq poUcy or growing out of any iailure ot any insurance company to pay for any loss or damage insured aBatnst In tl?e event ot loss tbe Mortgagor shall give. iina~ediate noUce by mail to the Mortgagee who may a?ake proot oi loas if not made pmmpUy by the Mortgagor; ~ch insuranoe rnmpany ooncerned ia. hereby authorized and directed to make payment tor loss directiq to the Mortgagee Instead of to the Mort- gagor and the Mortgagee ~ointly; the insurat~ce pmceeds. or any part thereof. may be applled by the Mortgagee. at 1ts option, to the expenses, ii any. incurred bq it In the collection thereot. to the reducUon o! the indebtednas hereby se- cured. to the resioraUon or repair of the pmperty damaged, or released to the Mortgagor vvithout 1[ability upon the Mort- gagee for wch release. All poHdes of [naurance are hereby atsigned to the Mortgagee as additlonal securlty for the p~y- ment of the aums and fntereat secured hereby; in the event ot foreclaaure o[ thi~ Mortgage or otUer tranaier o[ tlUf to the premises in extinguishment of the indebtedness. all right, tltle and fnterest of the Mortgagor L? and W any 1nw:ance polides Wen in force shaII pess to the purchaser or grantee. 4. To complete wlUiln a reasomble time aay buildtng or buildings now or at any tLne in the process oi erection upon tLe land and to prompUy repair. restore or rebuild any bWld[ng or improvementa nvw or hereatter on the land whlcb me~y become damaged or be destroyed. and not commit or permit to be ~ne or adst on or about the preialses anything whereby tLe premises shall beoome less valuable; to comply vviM all lawa„ rules, reguLUons. or ordinances of any gavern- mental agency and not violate or permlt the vlolaUon as W the premises ~ any building or use resMctions; to keep the land and improvements thereon iree from mechanlNs aud materialmen's ltens and wW not suRer any lien superbr to the lien created by this inatrument W attach to or be enforced agatnst the premLxs 5. It detault be made in the payment ot ta~ces, ass~unents, 11eas, claltrs. insurance premiwns or aay other charge ; whatsoever. or any part thereof. or 1n the per[orniance ot aay act. to be pald or pedormed b~ the Mort~asor under t6e provWons Aeno~ the Murt~aSee msy. at its optloa, rcalce pmiyment thereof or pdrform ~ay act requlred oi the Mortgagor ln any fosm or manner deemed expedient aad psy a~p otber sum tLat M neoersary W protect tLe secuiity ot this instru- ment; t6e amoua4 ao peld. wlth fnterest thenwn fram tLe date of sue~ payment at !he aame nte as bocne by the prln- dPal fndebtednea~. shW be as~ased as an additlonal IIen oa tLe premises and ahall be added to and beoome a part ot the ~ fndeDtedaeas ~ecured heneb7 and be lmmediately due and payable W tlte Mortgagee. Any pa~nent Dteebp authorf~ed to be ~ made bp tbe Mort~a~ee may be mede aoo~rding to aep+ bW, state~nent or eatlmate turnlshed or procured troa~ tbe appro- ; psfate publlc a~21oe ae tbe psrty cWmtns P+?ya~nt witbout lnquir~? tnto the aavrac~ or valWib tLerta[. aad tbe reoeipt ot ; a~? pnal~ omoes or p~stf m uie nanas a we Morcgagee st~au be conclu.~ve rvldenoe oe the valtmcp ana amouat ot ltecos w PaW: the Mort~s~ee sha11. a~ fts option. be suDrogated W any mcumbranoe. 11es. cWm ae 8emand, aud to aD tbe rt~hts aod ~eturltiea !os t6e pa~aient tha~eo~ paid or dUc]~arQed ~vith the princlpal sum ~ecured herebr or b~ the ~[o:t~ee uada! tlle Qt+o~fdoos bereo~ and aqy wch sub~+~ation rl~hta thaU be a8dit1onal and cumuLtlve ncurll~ W thls l[ort- i~- • . ~~~irV~