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HomeMy WebLinkAbout1614 • s MoMgagor alisll pay a the Mortgagee sny ~mount necessary to make up the deficicncy. Such peyment sLAll be m~de wichin thirt~ (30) d~ys aftcr written notice imm the Mortgagee stating tl~e emuunt ot tl~e deGcicncv~ which notice me~y be ~ven by mail. If at sn~r time the Mortgagor shatt tender to the Mortgagee in accord- aace with tLe provis~ons of the note secuced hereby, full peyment of the entire indcbtedness represrnted thereby. the Mortgagee ahaU, in computing the smount of sueh indebtedness, eredit to the account ot the Mort,gagor any credi6 balauce temaining under the prnvisions of (a) of said parogroph 2. If there ahall be a default under any of the ~rovisiona of ~his mortga$e resultiag in s public sale of Lhe prnmises covered hereby. or if the Mortgagee acquir~ 6he property othervviee nfter deinult, the Mortgapee ahall apply~ at the time ot the commencemeat oi such proceedtngs or st the time the pmpesty ia otherwtse acquired~ t6e smount then remaining t4 credit oi Mort~agor unde~ (a) ot paragraph 2 precPdinR as n credit on the intereat acccued and unpaid and the balance to tbe pnncipal then remainwg unpaid on asid nots. 4. He wilt p?y a11 ta~ces~ ~eeeeemente, w~ter ntea, and oZher ~overnnuental or municip~l char8e0. Saes. or impositions, for which proviedon hae not been msde hereinbefore, and in default thereof t6e Mortgagee may P4Y tLe aame; and t6at he will promptty deliver the o~cial reoeipta therefor to the Mortg,agee, b. He will pernuit, oommit, or eu~er no waete, impm~irment~ or deteriorstion of esid property or any par! thereof eaccept reaeonable wear and tear; end in the event of the fsilure of t6e Mortgagor to keep the buildinga on eai~ premiees and thuee to be erected oa eaid premisee, or impmvemente thereon, in good rEpair, the Mortgagee msy mske such rEpairs aa in ita diacretion it msy deem neoeeeary for the proper preeervation t6ereof, snd the full amount of each and every such paymeat sbaU be due snd psysble t~hitty (30) days after demand, and ehall be eecured by the lien ot thia me:tgsge. 6. He w;ll psy all end eiaguLat the ooeta chs~~. ~nd e~pen~ee, inc~udin6 reaaonabte lswyer's feee, and ooscs af abatracte of title, incuried or paid st aay time by e Mortgagee bea?uee of the fsilure on the part of the Mortgagor promptly and fully to pedorm the s~reemente and oovenante of said promiseory note and thia mortgage~ and ssid ooete, chargee, snd expenees ehall be immediately due and psyable and shall be eecured by the lien of this mortgsge. 7. He aiU oontinuoue~y msintsin hazsrd inauranoe, of such type or typea snd amounte as Mortgagee ms from time to time require~ on the impmvemente now or herestter on said premises and e.tcept when paymanC tor all euch pramiums hae theretofore been made under (s) of psragraph 2 hereof ~e will pay prompWy whan due any premiums therefor. All insuraaoe ahsll be carried in aompanies appmvec~ by 111ortga~ee and the poli cies and renewala thereof ahall be held by Mortgagee end have attached thereto loeg payable crausee in favor of and in form e~cceptable to the Mo . In event of loss he will give immediate notice by mail to Mortgagee, and Mortgsgee may make proof~ if not mede promptly by Mortgagor, snd each inaun~nce oompany ooncerned is hereb authorir.ed and directed to mske payment for such loes directly to Mortga~ee instead of te to Mortgagor aud ortgsgee jointiy, and the inauranoe proceeda, or aqy part thereof~ msy be appl~ed by l~iortr gagee at ite option either Lo tbe reduction oi the indebtednesa he~by eecured or to the restorat~on or repair of the prope,rty dama~ed. In event of forecloaure oi this mortgage or other transfer of title to the mortgaged property m e~tinguiahment of the indebtednees eecured hereby, ail tig6t, title, and interest of the Mortgagor m aud to any ineurance policies then in force ahall pssa to the purchaeer or grantee. 8. He will not execute or file of record any inatrument which imposes a restriction upon the sale or occu- pancy of the property described herein on the basis of race, color, or creed. 9. If the premises, or ar~y part thereof, be condemned under the power of eminent domain, or acquired for u pnblic use, tl~e damages awarded, t.he proceeds for the taking of, or the consideration for such acquisi- tio~~, to tl~e extent of thr full amouut of tlie remaining unpaid indebtedness secured by this mor~tgage, are herrb~- easignecl to the ~lortgagee, and his heirs or assigns, and.shsll be paid forthwith to said Mortgagee or t?is sssignc~e to be applied on account of the last maturing installments of such indebtnesa;provided, how- e~ er, the tilortgagee or liis assig~~ee, ma~ at his discretion pay direct to the Mortgagor, his heirs or assigns an~- part or all of such a~card; provided, that if the loan is guaranteed or insured, Lhe coi~sent of the guaran- tor or insurer is obtained in advance of ssid payment. 10. The ~lortgagee may, at anp time ~ending a suit upon this mort~e~e, apply ta the court hwvin~ jurisdic- tion thereof for the appointment of a rece?ver~ and such court s6all fortliv~nth appoint a receiver of the premises covered hereby all and singular, includin~ all and singular the income, profits, issues~ and tevenues from «hat- ever source derived, each and everv of Hhich, it being expressly understood, is hereby mortgaged as if specificall~ eet forth and described in the granting and habendum clauses hereof. Such appointment shall be made bv such court ss an admitted equity and a matter of absolute right to said :~iortgagee, and without reference to the adequecy or inadequacy of the vatue of the property mortgaged or to the solvency or insolrencv of said ~4ortgagor or the defenciants. . Such rents, pm6ts, income, ~ssues, nnd revenuea ahall be applied b~ such recei~ er a~cording to the lien oi this mortgage and the practice of auch court. In the event of any default on the part of the ~lortgagor hereunder, the ~lortgagor agrees to psy to the yiortgagee on demand as a reasonable monthl~ I rentel for the premisea an amount at lenst equivalent to one-Lwelfth (3;:) of the aggregate oi the twelve monthl~ installments pa~ able in the then curnnt year plus the actusl amount of the annusl tares, assessments, water rstes, and insurance premiums for such year not covered bp the eforeseid monthly psymenta. ~ 11. In the e~ent of any breach of thia mortgage or default on the psrt of the Mortgagor, or in the event thnt anv of said sums of money herein referred to be not promptly and fully paid sccording to the tenor hereof, or in the e~ ertt thst each snd ever3 the stipulationa, agreements, conditiuns, et?d covenants of said note and thi8 mortgege, are not dulv, promptly, and fully peirformed or if the ~iortgsgor be adjudicated bankrupt or msde detendant in s bankruptcy or receivershi~ prceeedinga; then in either or any such event, the said aggre- gata sum mentioned in said notc then remaining unpaid, with interest accrued to that time, end ell mone~ secured hereby, ahall become due snd peyable torthwith, or therestter, at the option of said ~fortga~ee, as fully and cumplelely as it all the said aums ot money'were originally stipulated to be paid on such da~, an~•- thin~ in ssid note or m this mort~age to the contrarv notwithatanding; and thereupon or thereafter, et the option of said \tortga~:ee, without not~ce or demsnd, suit st law or in equit~, mav be pmsccuted ss if all mone~-s secured her~b~ had matured prior to it8 institution. Th~ ~1ort~egee ma~ foreciuse this mort~w~P, ss to the smount ao declared due and pe~ sble, snd the said premises shall be sold to eatisfy and pay the same to~ether w~ith c~?sta, expc~naes, and allow•ances. In case of partial foreclosure of this mort~x ge, the mortReRc~c1 pr~~rni~e~ ahall t,e ~~Id suhjc•c•t to the continuinglien of this mortgape f~r the amount of the d~ bt not then due xnd nnp~id. In snch case the pro~•isions of this peragraph may sgein be availed of thereefter (rom ti~ne to time b~• the :11ort~agee. ' 1'~. \o w•si~er of any covennnt herein or of the obligetion aecur~i hereby shell et en~ tim~~ tl~~mNfter be 6eld to be s v?•ai~er oi the terma hereot or of the nute secured hereb~. 13. The lien o( this instrumFnt shall remain in full fnrce and eHec.t during anc Ew?~t}wnrnu•nt ~?r ~~xt~•nsion ~ of the tim~ of ps~ ment of the indebteclnesa or an~ par/ th~reof serurc~i herel,y. ~ 14. Tl~is mortgs{~ e ia ~i~cn to secure the purchese monev, or s psrt thenw(, ot thr lan~ls li~•re~n ~1~•wrrit~l ~.,.i wd ia executed and deli~•ered contempornn~~usl~ Mith the deed therefor. ~ 1,5 It the ~1urtRagor default in sn~ of the co~•Nnants ur a~r~~ernente contai~~i herFin, c~r in sai~! notP, thPn ~ the \fortRs~eP me~,{?c~rfvrm tt~e~ same, and sll +•a~~+•ndit~~r~~ (inrludinK res.~insblF ntt~?rnr~'s i~t~) mxd~ br ~he ~tortRa~ m so duin~ shall drav? intrr~~t st the rstF pn?ci~l~vi (ur in eh~ pnn~•~pal ~mlrbtwln~~g. ~nd yh,ill 1~ ~ repscat?le thirt ~{30) ~ sys s(tPr demsnd, and, t~?K~•tl~Fr w-ith in~er.~t umi r~~ts a~rruwi thenti,n. ~hMit tH• ~~cu~~1 bp this m~~rtKege. ' !~-1 Ici. ['{wn the r~qu~at af the ~fort~aKcw thP ~turt~w~or shall Paecute ~nd d~li~Pr ~ euppi~rn~ntal note or aott~s tor lb~ sum or runu a~~ran~M1 h~ thP ~(ortRs{~c~r for th~ alte~ati~n, m~iernisstion, impmveinent, mein- og ten~ncr, or repair of ++wid premiac~, for t~~~~x ur a~~:~emrntK e{~xin3t the a~me nnd for ~nv ~~th~r pur~M?~r authur- ~ ~sed herPUndrr ~~id notr ~r nutr!s shsll t?~• ~~cur~~~ hrmh~- an • parit~• a~~th and e~• lull~• a.s tL~• a~l~-~nrr er~d~nrev~ thecrf~~• w~rre included ia thP nutr tint a~~~~r~c?,.,i ~~~P. ~at~ 5~1~1NIrt1lcntal notr ur nu~~~ ~I~~U be ~r ~ a - - - - - - il _ . s~~''~~.~~ ~ .,'„~,~,~a ~ = ~ s~~~~~~~~° . 5 ,a~E-,.~..~"-i.~ .