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Home My WebLink About0049 f TO HAVE M1D TO HOLD tM premises unro said J. T. STEWART MORTt'~GE COMPAN~, INC. ^ . ~rs wccessas and sssi~ns, forever, fa the purposes, ~nd upo~+ the uses and tnists hemin set forth. IT iS FURTHER UNDERSTO00 AND I~GREED TW1T: 1. Until tM indebtedness sforesaid stull bt fulty paid. s~d in csse of the failure of !~ie Mort~a~o?, its suaessars or sui~ns to m.aks any p~yment or petform aM? of the stts ~s follows: (sl promptly repair, rostore or rebuild any buiidinp.s or improvemants now or hereafter on the premises which may b~ome dan?aped a be destroyed; ~ lbl k~ep said premises in ~ood condition and repair, without waste, and free from nnechanic's w other lie~u or claims for lien nof tx- ~ preuly wbordinated to ths Uen hereof; (c1 pay when due sny indebt~edrxss which may be secured by a lien or chsroe on the premises ~ia to the lien hereof, snd upon ~equest exhiWt satlsfxtory widence of the discha~e of wch prior lien to Trustee or to holde.s of the note; td1 complete within a reasonabk tims sny buildir~p or buildirgs ~ww or at any time in process of erectior~~upon.ssW premises; (e1 comply with all requi~ements of law or municipsl ordinances with ~spect to the premises snd tha use H~ereof; tf) refrain from making material alteratioru in said premises except ss required by law or municip~l ordi~; , (g? pay at least sixty (601 days beforo any penaliy attaches sll peneral taxes, special taxes, specisl assessmenh, wsb? char~es, sev~er senice charges, and other chasfles against the premises when due, a~d upon written request, to fumkh w Tnntee or to Mlders of the note duplitate receipts therofor, - Ihl pay in full under protest in the marnxr provided by shtute, any tax or assessme~its which Mortya~o~ may daire to aontest~ lil keep all buildings and improve~r~ents now or heresfter sitwted on said premises ir?wred ayairut loss or dams~s by fi% Iphtninp and windsto~n? under polities providirg for psyment by the i~xance companks of monies sufficient eitfier to psy the oost of replacinp and repairing the same or to pay in full the indebtedness setured hereby, sll tn companies satisfactory to the holders of the note, ~ under ~nsurance policies paysbk, In case of loas or damape to, the holders of the note, wd~ ?iphts to be evidented.by the stu~dsrd mortgafle clause to be attached ro each poliq, said towrance to be paid or? the highest inwnble value: snd to deliver all polktes, including additional and renewsl policies, to holde~s of the note, and in case of inwrarxe about to e~im, to deliver rerawal policies not less than ten days prior to the respective dates of expiration. 1 j) The holders of the note may, but need not, make wch WYment or perform wch act as set forth herein in any form and marner deemed expedient, and may declare the said note and mort~sge in default and n~wertheless may, but need ~ot, mske full or partial payments of principal or interest on prior encumbranoes, if any, and purchase, discharge, oompromise or settle any tax lien or other priw lien or title or claim tfiereof, or redeem fran any tax sale or forfeiture affectinp said ~em'~ses or oontest any tax or assessment. All monies paid for any of the purposes herein authwized and all expenses paid or incuRed in connettion tt~ewith, including attomeys' fees, a~d arry other monies advanced by Trustees or. the holders of the note to protect the mort~aped premises and the lien hereof, plus reasonable compensation to the 7rustee for each matter caxeming which action herein authorized msy be taken, shall be so much additional indebtedness secured thereby and shall become immediately due and payable without notice and with interest thereon at the rate of eight per cent per annum. Inaction of holders of the note shall never be oonsidered as ~ a waiver of any right atuuirg to them on account of any of the provisiwu of this paragraph. 2. The holders of the note hereby secured making arry payment hereby authorized relatir~ to taxes or assessments, msy do so accord- ~ ~r~ to ar~y bill, stateme~t or estimate procured from the appropriate publk office without inquiry into the accuracy of such bill, statement cr estimate or into the validity of arry tax, assessrt~ent, sale, fafeiture, tax lien or title or claim thereof. 3. /1t the option of the holders of the note and without notice tc mortgagor, its successors w assigns, aH unpaid indebtedness secu-ed by this mortga~e shall, notwithsta~tdin~ srrything in the rate or in this mortgage to the tonrrary, become due and payabk- (a) irrunediately in ths case of default in making psyment of smr installmerrt of printipal or i~terest on the note, or ~YS (b) in the event of the hilure of mortpagor, or its successo?s w sssigns to do any of the things specifically set forth in p~ngraph one hereof and uxh default shsll continue for three days, said option to be exercised at ar~y time aher the expiration of said tl~ree day period, Or ~ I (cl in the event of the failure of the mortyagor, or its successoa or assifl~u, to do things specifically sei forth in paragnph one hereof ~ and any wch defaulf shall continue for 10 days, said option may be exercised at any time ahe~ expiration of tfie saic~ ten day i I ~ I period. ~ 4. YVhen the irdebtedness hereby secured shall become due. whether by acceleration or otherwise, the holders of the note shall hsve ~ ~ the ri9ht to foreclose the lien hereof. In any wit to forecbse the lien hereof, there shall be allowed and included as additional indebiedness tn ' ~ tfie deuee for sale all expenditures and e~enses which msy be paid or inwsrcd by or on behalf of the mort9agee w the holders of the note ~ far attorneys' fees, mortpayee's fees, appnisers fees, outlsys for documentary snd expert evidence, stenographers' charyes, pubtication oosts and costs lwhich may be estimated as to items to be expended after entry of the decree) of procurir~y all such abstncts of titta, titk ~ searches and examinatio~s, with respett to title as the mortgagee or the holders of the note may deem to be reas,a~wbly necessary either ~ ro prosecute such s~it or to evidence to bidders at any sale which may be had pursuanf to wch decree the true aondition of the title tv or ` the value of the premises. All expenditures and expenses of the nature ~n this paragraph mentioned shall become so much sdditional kdebted- ' ness secured hereby and immediately due and payable with interest thereon at the ?ate of eiflht per cent per amum, when psld or inn~red by tfie mortpagee or the holders of the note in connection with ~ (a) a~r proceeding, including probate and bankruptq proceedings, to vrhich either of them shall be a party, either as plaintiff, clair.wnt w defendant, by reason of this rrwrtpape or am? indebtedness hereby secured; or ~ i (b) preparations for the canmencement of any wii for the fo?eciowre hereof after accrwl of wch ripht to forecbwro whether or not ~ ~ actwlly commenced: or r (c) preparations for the defense of srtiy threatened wit or proteeding which might affect the premises w the security thercof, whether ~ or not actually oomrr~e~c~d. ~ ~ 5. The proceeds of any foretlowm sale of the premises shall be d'atributed and applied in the foltowins} order ot prioriry: First, on ~ accou~t of all costs and expenses incident to the foreclasure proceedin9s, including aH such items as are mentioned in the pr~ng psrs- ~ graph hereof; seoond, all other items which under tfie temis hereof wnstitute secured indebtedness additional to that evidenced by tt?e note, ~ w~th interest theroon as herein provided; third, all principal and interest remsining unpaid on the note; fourth, any overplus b mortQspor, ~ 7ts leqal reprcsentatives o? assigns, as their rights may appear. ~ 6. Upon, or at am time after the filin~ of a bill to foreclose this mortyage, the court in which such bill is fikd n~ay appoint a ro- ~ ceiver of said premises. Such appointment may be made either before or after sale, without notice, without re~ard to the solvency or i+~so1- ~ ~ vency at the time of appliwtion for wch receiver, of the person or persons, if any, liable for the payment of the indebtedness sewred F~ereby. ~ and without regard to the then value of the premises or whether the same shall be the~ occupied ~ a homatead or not and the Trustee here- ~ unde~ msy be appointed as such receiver. Such receiver shall have the powe? to collect tF+e rents, issues snd profits of said premises d~xirg ~ ~ ~ , ~ ~ ~ ~ eouK ~ ~ ~ ~ ~ - _ _ . . ~ ~ ~