The URL can be used to link to this page

Home My WebLink About0516 . ~ ~ ' ~ . ~ ot tl~e Mort~a~ee become itamMtately due and paysbl0. a?ithout notlce. and proceedln8s m~y be InWtuted by t1~e ldort• ' ~agee for the rec~?ei7? thereot by loreeloaure at t~1s Mort~e. or ia aqy other manner psr~Ntted b7 Lw ~s the Mort- ( g~geemay elect, aWitNn~ 1s tbe note or ia thls Mort~a~e oontalaed to the oontnr~? thereto notwiWtandln~. Upon fore- ! cloaun ot tlds MottBa~e. tbe Mortgs~ee sDaU be allowed as a part ot the inaebtedneas secured hereby. ~aa tbe Mort- ~a8or a~rees to P~Y. W costs and expenses lncun~ed la oonnectJon therewltU. Includin~ reesonable attorney's fee~. oost oi tltle end tax seatrh and the extendon to date ot an abstract oi tttle or tltle Polt4~: aad in case such toreclosure Proceed- iags are sttUed before the con~umu?atioa thereof or the entry of iudgmea~ any such ceats uW expea~es aa8 other cbar~es so lncurred. includta~ a rea+anable attorney's fee. shW neverthNes be pafd. The Mort~a~ee or ~j? party ia in- teresk belag We highest bldder~ may be ~ purchaser at aqy foreclaure sale. Aay electloa by the Mort~a~ee ~s IIereW pro- vided tor mq? be exercised lmmediateb uPw? defaul~ or aW? tlme thenafter~ aad noWn~ shW be coastiuM to be a wdver oi such rlght unless evlbenced by w iastrument ~n writing to that effect duly executed by tbe Mortgagee. The Mortgagor walves all rl~ht oi homestead acd ~~ptt~a g*'-.a•^d by Lha C`^!!•Ntt+!!on ~!nt1 ?avwe ~t FIor1~1,~. AND THE MOATGAGOB FURTBER CONVENANiB AND AGREF•S: ~ l. To pe~y the priadpal indebtedaess with lnterert as in tde note provlded. To pay montNy unto the Mortgagee. ~ in addtUoa to and at the time and p4ce for es~.l, p~pment of prtndpal and interest, an tnstallment ~ each of the tollow- in8 char6es: ~ (a> Taxes and a~ents, gener~l or spectal. and all oWer ~harges levled or to be levled a~ainst the premises. (b> Premiums to become due and psy~ble for. and to renew. the insurance on the premises sgatnst loss by Sre and wch other hara?Ns. c~sualtles and c~tingeacies as herein provided for or required h~om time to tlme. The amount oi the respecUve moathly lnstellmenb shell be equal to the amount of the annual respective charge next due tas esUnnated by the Mortgs~ee). ler all installments alreadY paid therefor. divlded by the number o[ montlily in- stallzneats thenfor beooming due not Lter thaa one mouth prbr to the due date ot aqy such charge and ahall be suD- ject to increase or decrease to tl~e e~ctent nKlulred to create as oi a montlily peyment date on the note not less thafi one month prtor to the due date oi any such ebaree~ an amount su~cient for the pqyment thereof wLen ~te and payable. Ia no event ahall the Mortgagee receiving such payment be 1laDle for any interest on an,y amount paid to !t aa herein re9u[red. and the money so reoeived m~y be hela with i4 own tunds 1~~8 PsY~ent or applicaUon thereoi as heretn provtded. The Mortgsgor sbW itunlsh unto the Mortgagee at least ntteeA da~?s before tt?e due date an o~icW statement oi the amount a~ eny taxes or aas~nnen4 nezt due. and such Mort~a~ee shall pqy the above charges to the anaount of f the the~ unused credit tberefor as and when tdey beoome severaW? due and payable. The Mortgagee me~y. at its optlon. f pay any oi such charees when paY~ble. elther betore or aiter they are dellnquenk without notlce. or make advances + therefor !n excess of the then amount oi credit for Wd cbarges. The e~coas amount edvaaoed shall be immediately due and payable to th~ Mortgpgee snd sl~all be secvred as an ad8ltional prindWl sua? under this instr~ment and bear the same rate oi interest irom date o1 advancement as the prindpal indebtedneae. An oaidal reodpt tIIerefor ahell be ooaclwdve evidence oi such payment and oi the validity oi such charges. The Mortgagee may apgly credits held by it for the above charges. or any psrt thereoi. on sccount oi any deltnquent installmeab o! priadpal or intereat or any other payments matwdng or due under tWs instrument and the amonnt of credit existing at anY time sAall be reduced by the amount thereof paid ar applled as herein provlded. The amount of the exlsting credlt hereunder at the time oi any tranater oi the ; PropertY shall without aasignmeat thenwf inura to the bene8t of the auooeasor owner ot the property and ahall be applied ; under and aubjeM to all oi the pmviaions hereof. Upon tde psyment W full oi the indebtedneas, the amount oi any • unu~ed cred[t ahall be applled to the payment thereoL ` The Mortgsgee may collect a"late charge" not to exceed four cents (4c) foi each one dollar <i1.00) of each monthly f installment psyment requlred on the note and uncler Uils Mortgage which 1s more than 8fteen (15) daya in arreais. to , cover the extra expeuse involved in handling delinquent payments. 2 To pay. when payable. sll taxes and a~nents. general or special. water rents and ground rents and all other charges whstsoever levied upon or asseased or placed aBatost the premises. provision for which has not been made here- inbefore. and will promptly deliver the o$icial receipts therefor to the Mortgagee; to likewi~e pay all teaes~ aseasmenta and other charges. levied upon or ass~ed. plaeed or made against this instrument, or the indebtedneas or anq interest oi the Mortgagee in the premises or the oWigaUons aecured hereby. provided that the payment of any such tax assess- ment or charge by the Mortgagor b not oontrary to law or would not result !n t6e peyment of an unlawinl rate oi inter- est on the indebtedness hereby secured. In the event oi the paasage aiter the date of this Instrnment o! any Isw of the ; ~3lvision thereot. wherein the premises are situated. creating or pmWdtng for aqy teuc. a~asment or charge ~7~OK~ v~ oY which by the above provtso it not to be patd by the Mortgagor, the indebtedness secured hereby togetber with fnterest due thereon. shsll. at U?e option of the Mortgagee. become immediately due aad psyable. and in the event payment there- ~ of b not made forthwith. the Mortga~ri .::a~; take or cause to be taken such acUon or proceediug as may be taken here- under in the case oi aay other default in We payment oi the indebtedness. 4 E 3. To keep the buildings and additions thereto on or hereafter erceted or placed upon the land insured agalnst loas € by flre and such other hazards. casualUes and contingezrctea. including war damages 1i at any Ume a state oi war extats ar ~ ;L agY..~.o :a •Wr ~~~~~r oi the note that war is imminent, anu in such amouais snd ior wcn perioos, as may be required irom time to time by the MortBaSee, and to pay pmmpUq when due all premiums on such insurance. provWon for pay- ~ ment oi which has not been made heeeinbelore. The polides of insurence shall have loas pqyable proviaions acceptable to the Mortgagee snd ahall be delivered to and held by the Mortgagee, or as 1t msy dlrec~ unt[1 this Mort~age is satisged. Renewal poHcies o! inauranc~ premiwns for whtch have been fully pald. are to be furnfshed to tLe Mortgagee at least Siteen days prlor to the expiration date oi the insurance thereby renewed. The lnaurance iLall be wrltt~ ln companies L h approved by the Mortgagee; fn no event shall the Mortgag~ee be held responstble for failure to pay for, any insurance ~ written or for any lost or damage gro~Wing out oi a defect in any poUcy or growing out of anq fatlure oi any insurance ~ oompany to p~y for any loea or damage insured agatnat In the event oi las the Mortgagor shall glve imaiedlate noUce by mail to the Mortgagee a?ho may malce prooi oi loas ii not made prumptly by the Mortgagor; ~ch Insurance companq concerned b, bereby authori~ed aud directed to make paymeat for loas directiq to the Mortgagee instead oi to the Mort- gagor and the Mortgagee iofnUy; the lnsarance proceeds, or any part thereof, maq be applied by the Mortgagee~ at its } optlon. W the expenses, if any, incurred by it in the oollection thereof, to the reductlon of the Indebtedne~ hereby se- ~ cured. to the restoratlon or repair M the property damaged, or released to the Mortgagor without llabWty upon the Mort- gagee for such release. All polldes oi insurance are hereby aasigned to the Mortgagee as additIonal secudty for the pqq- ment of the sums and interest secured hereby; in the event ot foreclaaure ot tb.b Mortgage or other trander ad tltla to the ~ premises in extingulshment of the indebtedness„ all right, tltle and interest oi the Mortgagor in and to any insurence ~ ~ polldes then 1n force shall pass to the purchaaer or grantee. ~ 4 To oo~nplete withln t? reaaonable time any building or buUdings now or at sny time !a the process of erectlon upon the Lnd and to promptly repair, rPStore or rebuild any bullding or impmvements now or hereafter oa the laad whic6 S may become dansaged or be destroyed, and not oommit or peradt to be done or exist on or about tbe premisa anytbing ~ whereby tbe pTemises ahall beoome las valuable; to comply. with all laws, rules„ regulatlons, or ordfaences oi any govern- " mental agency and not vfolate or permit the violation as to the premises of any buflding or use sestrirtions; W keep the laud and improvem~ts thereon free irom mechanic's and materlalmen's H~s and aW Aot suRer any lien superlor to the lien created by this iastrument to attach to or be enforced a8sinst the premises. 5. It deiault be made in the payment of taxes, as~esvnents. liens. clsims, insurance pr~miums or any other charge ~ vrhataoe~ver. or any part Wereof. or in the pedormaace of any ac~ to be patd or pedormed by the Idort~agor under the ~ provWons hereo~ tbe Mortgagee msy. at ib opUon, make pe~yment thereoi or pertornn any act reqWced e~ the Mortgagor ~ ~ fa any form or manner deem~ed expedieat and p~y any other sum Wat b necesrary to protect tbe securlty o! this instru- 3 ~ ment; t6e ama~nts so pafd, wltL interest therea~ from the dnte of wch payment at tbe same nte as borne by the prln- s dpal Indebtednew~ shall be as~ted as an aWdiUoaal llen oa the premt~es and shall be added to and beoome a piut o1 the } i ~ lndebtednea~ secured hereb7 and be 1mmMiately due and payable to the Mortgagee. Aay payment hereby antborl~ed to be ~ made b1 the Mort~agee m~? be made e?ccordin8 to at~y Af11. statement or eattaoate lurnlsbed or proaured L+oma t6e appro- prlate publlc o~ca or t6e WKY ~S P~ent withoat fnquiry fnto the aocuracyr or validtt~ tLerea~ and the s~eoefpt oi - ~Y P~bllc o~ioer or party in the hands oi tLe Mort~a~ee sh~ll be conclusive tvidenoe ot tLe validiq? aad amouat oi iteao~ ~ w pRld• the MortQagee sLall, at i4 oPUon. be subrogated to any encumbranoe, lldi, claim Qe demand. sud to all t6e rl~l?ts ~ ~nd ~eciuitles tor the payment thereot, patd or disc]rar~ed with the prindpai sum iecurid hereby ~ b~ tLe M~ee under tAe vrvvWoas hereo~ and any wm subro~atfos si~t?ts alull be ae~diuooal and cnmulative iecmiqr to tbls Mort- ~ pse. 8oax 17~ ~ 5~6 ~ ~ -~l _ _ ~ _ ~ ' '1.e ; - _ ~i.~~~Y~_~""~5~ Y ~ _ ~ . _