HomeMy WebLinkAbout1425 1~OGETHER WTiti all additions, replacements and improvements to any of the
foragoing, and all and singulur the tenements, hereditamenta and appurtenances
thereto beloaging, and the rents, isaues and profits thereof, und ~lso all t'~e
estate, right, Citle, intereat, homestead, dower, separate estate, possesalon~
clsim and demand whataoever, as well in law as in equity, of the eaid Mortgagor
in and to the mortgaged property and every part thereof with the appur*_enances,
soccifically including all rights and aquitiea of redemption, all of which are
hereby expressly waivea. (Al1 of the foregoing, whether conaiating entirely of
real property or entirelq of chattels, or of both real property and chattels,
is herein for cocivenience cullad the "~rtgaged property").
Tp HAVS ArID TO HOLD the said mortgaged property and every part thereof
unto t~e Mortgagee forever.
. PBOVIDBD AUdAYS, and this mortgage is on the express condition, that if
the l~brtgagor shull pay or cause to bt3 paid all of the moaeys mentioaed in said
''Obligation" and the intc3rest thereon, all at the times and in the manner as
~herein agreed to be pAid, according to the true intent and meaning thereof,
and shall pay all other s~s provided to be pnid by this mortgage, and shall
perfo~n and abide by all thQ covenant8 and agreemente herein and in said
"Obligation" contaiaed, then these presents sholl be void and the estate herc-
in and hereby granted shall:cease and determine.
ANp SA1D tiORTGAGUB dces hereby cavenant with the Mortgagee that said
Mortgugor, at the time of e~oecution and delivery of these presents, is the
absolute awner of and in passession of said mortgaged property; that he has
~ good right, full power aad lawful suthority to convey the same in the manner
and form herein set forth; that said property is free and clear of all liens
of whstever nature, except as spectfically mentio~ed herein, and Mortgagpr
fully warrants the Citle to said~property and will def~nd the same;ag~i,~st all
lawful claims aad demands excepE from the warrantiea`co~tained ~n the eneum-
brances herein specifically set forth. ~ ~
pNp THg M~TCACOR do~s hereby further covenant, promiae and agree with
the Mortgagee, its eucceasors and assigas, as follows:
- l. l~brtgagor Will not cocmit any waete, or wealc~en or ~3mpair the secu-
rity of this mortg~ige; will pay, prior to delinquency, al~ ta~oes and assessmcnla
levied or-imQosed~on said property; will keep the mortgaged property inaured
in saoh manner and in auch amouats as Mortgagee nay require;~and will not
remove any ctuittels, if inel~ided in thie ~rartgage, froa the premises where they
are now situated, without Mortgagee~s written caasent. ,
2. In the event of suit to foreclose this mortgage, Mortgagee shall be
entitled, as a matter of right, wit~out regard to the value of the mortgaged
prapertq or to the solvency of Hortgagor, and without notice, to the appoint-
ment of a Receiver of the mortgaged property and the income and profits ~
thereof.
3. In the event of Mortgagor's failure to pay taxes, or to ic~eep the
premises insured as required, Mortgagee may, at its optioa, but is not required
to, mnke such payments, and the sums so advanced shsll be repaid by Mortgagor
with in~ere'st ae provided ia the "abligation", and eaid sums so paid by the
Mortgagee ahall be secured by this mortgage.
4. In the event of gny default in the terms of the "Obligation" or this
~ortgage, Mortgagee c,ay, at its optian, decltxre the whole indebtedaess secured
thereby to be immediately due and payable.
S. That no eutension os r~odific.ztion of the payc~gnts to be pade as
heieirabove set forth, 3nd no release of-any part or~parts of the mortgaged
praperty, or of other collateral securing the ubove-described indebtedness,
even though ~de Without co~asent of the Kortgagor, sball releuse, relieve, or
diectwrge the Mortgagor froci the p.~yc~ent of any suas hereby secured, and
Mprtgagee shall have ttie right to release fron the lien hereof anq portion or
portiona of the mortgaged pYoperty, or other collateral held as security fox .
said indebtedness, irrespective of the value of the released portion, without
affecting tt~e liea hereof as to.tbe port~on or portiais not re~eased, t?otwith-
standing the fact that such rele$~e or rele.zses r~ay be c~ade without taiat,iledge
or coasent of the Mortgagor, or of any (Yantee or Granteea of portiobs of such
property theretofore sold.
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6. Thie r~ortgage aay be foreclosed by the ~rtgagee in accordance with
either State or Federal law in force at the tir~e such foreclosure ia in,sti-
- tuted.
' BOt~IK ~`r~ PAGf 1~~U .
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