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Home My WebLink About2816 . t ' ~ y ~ ~ t ~ ~ ttie deficiency. Such pey ment a}iall be made within thirty (30) days after written notice from'the ~Iortgagee stating t,he amount oi the deficiency~ which notice may be g~ven by mail. If at any time the Mortgagor aha~l tender to the Mort.~agee in accordunce with tl~e provis'iona ot the note secured hereby, tuU paymen~ of the entire indebtedn~a represented thoreby~ the Mortgugee aa trustee shaU~ in oo~nputing the emount of such indebtedness, credit to the account of the Mort,~a~or any credit balance retnaining under the pmviaioaa of (e) of said paragraph 2. I~ there ahell be a detault under any of the provisions of this mortgage reaulting in a publie sale oi the premisea covered hereby, or if the Mortgsgee acquires the pmperty otherwise after default, the Mortgagee as truatee sl~nll apply~ at the time of the commencenient of such proceedinga or at the time the pmperty is otherwise acquired, the amount then remeining to credit ot Mortgagor under (a) of para~raph 2 precedmg aa A credit on the interest sccured and unpaid and the balance to the principal Lhen P8Iri81Illilg UDp81d OA 881(I nf11s. 4. Hs wil! py? aU t~es, aeeesemenb, wstee rstes. and ot~her ~ovezn~entai or manieiPv ~harB'es. 8ne~. or impoeitions, tor whieh proviedon hss not been made hereiabefore, and ia detault thereot the MortB¢S~a m+1Y p~Y ~ wne; and t6at ~s will pmmptly deliver tbs o&cul reoeipb tberefor t~o fLe Mortg~gee. b. He will pesmit, oommit, or s~Her no wad~e, impwirmea~ or deterlorsLion af esid property o~ ~n,y part t6ereof eaceept reasonsble we~r and tear• aad in ths event of the f' ure of the Mo~g~ r to keep the bmldinge on sai~ premises end t~hoee t~o bs erecte~ on and premises, or improvements thereon, ~n good repsir the MortB~ ~1Y mdce such npairs aa ia its discretioa i! m~y deem neoeeeary for the ProPer W~eeen?stion thereo~, and the full amouat af each and every such p~yment shall bs dne ~nd pa+yabls thirti? (30) di?ya aft~ demand, and shall be secured by tbe li~ea of tbis mort~,e~e. 6. He will p~q sll aad sinauLr tbe oosts, and eocpeneea inaludia~ reaeor.sble Lwy~'s feee, and oosb ot abetrects of title~ inaurred or psid st aay time~Morfgegee becsuee of the failure on the psrt of the Mortgagor P~'~P~Y ~ ful~? to peiform the a~eements and oovenante of eaid promieeory note and thia mortgage, and eaid ~osta, chugea, and e~pensee a1~s11 be immediut~e~ dne and psysble aad ahall be eecured by the liea of tlus mortg~g~e. 7. He ~vill oontinuo~ maintain baaaed i~suranos, of such typs or typee snd amounts as Mortgsgee m~~ from tiane to time require, on the impmvemente no~v or heree?tter on said pnmisee and except when p~ymen~ tor sil auch preminms ~s theretofore been m?de under ~(a) of psragrsFh 2 hereof ~a will-pay promptly when due ady premiuma therefor. All insuranoe ahsll be carried ia oomP+~es uPProve~ by biortgagee and the pol~ cies snd renewala thereoi ahall be beld by Mortgagee and have attacLed thereto ~es psyable cCausee in f~vor of and in form a«:eptsble to tha Mo In event of loas he will give immediste not~oe by mW to Mortgagee, sad Mortgag~ee msy malce .prooi~ if not made promptly by Mortgagor, and each insuranoe oompsny ooaosrned is hereb suthoru.ed and direated to mske psyment for such loss directly to Mortgagee ~.natead of to Mortgagor and ~ortgagee jointJ~jr, and the in~auranoe prooeecls, or sqy part thereof map be appLed by biorfr ~agee st its option either to tbe reduction of the indebtednees Lereby secured or to the restont~on or repair oi t6e property dama$ed In event of toreclosure of this mortgsge or other tranafer oi title to the mortgaged property ia eztingu~s6ment of the indebtednees eecured hereby, af 1 right, title~ and interest of tbe Mortgagor ia and to any insuranoe policies then ia toroe aLall pasa to tLe purchseer or graant~ee. 8. He will not eszecute or Sle of recard any instrument which imposea a restriction upon the sale or occu- pancy of the property described herein on the basia of rsce. oolor~ or creed. 9. If t,6e premises, or any part thereof, be condemned under the power of eminent domain~ or acquired for a public use, t~he damages awarded, the ptoceeds for the taking of, or the consideration for such acquisi- tion, to the extent of the full amount of the remaining unpsid indebtedness secured by this mort~age, are hereb~ assigned to the Mortgsgee, and hia heirs or assigns, and shall be paid forthwith to said Mo~egee or his assig n~ee to be applied on account of t6e last maturing ins6sll,~pents of such indebtness;provided, ow- eQer, the Mortgegee or his ass~gnee, may at his discretion pay direct to the Mortgagor, his heirs or assigna any part or all of such award; provided, that if the loan ia guaranteed or insured, the consent of the guaran- tor or inaurer is obtained in advance of aaidpa yment. 10. The Mortgagee msy, at anp time ~en 'ding a suit upon tws mortgag~e spply.to the court hsvir?g jnrisdic- don thereof for the appointment of a receiver, and such oourt ahall fort4wit~ appotnt a receiver of the premises covered Lereby all and singular~ includin~ all and singular the inuome, pmfita, ~saues, and revenues from «hat- ' ever source denved, each and every ot vrluch it being expresaly undetstood~ is hereby mortgaged sa if speci6cally ; eet forth and described in the granting an~ hsbendum elauses Lereof. Such sppointment ahall be made by such court as an admitted equity and a matter of abaolute rigLt to said Mortgagee,_ and without reference to { the adequacy or inadequacy of the value of the property mortgsged or to the solvency or insolrency of said Mortgagor or the defendanta. Such renta~ pmfita, income, issues, and revenues ahall be applied by such receiver ~ acc~rding to the lien of tLis mortgage and the practice of such court. - In the event of any defsult on the part ~ d the Mortgagor hereunder, the :~lortgagor ag~rees to pay to the viortgagee on demand as a reasonable monthly ~ rental for the premises an amount et least equ~valent to one-twelfth of theaggregate of the twelve monthly installmenta payable in the then current year plua the actual amount of t6e annust tdres, assesaments~ water ~ rates, aad insurance premiums for such year not oovered by the aforesaid monthly psymenta. ° 11. In the event of any breach of t6is mortgage or default on the part of the Mortgagor, or in the event ~ thst any of said suma of money herein referred to be not promptly and fuUy paid according to the tenor hereof~ ~ or in the event that each and every the stipulstions~ agreemeats conditiana, and covenanta of said note and ~ this mortgage, are not duly, pmmptly~ and fully performed or i~ the Mortgsgor be adjudicated banl:rupt or = msde defendant in a bankruptcy or receiverahi~ proceedings; then in eit6er or any suctt event, the said aggre- ; gste sum mentioned in said noLe then rem unpaid~ wit6 intereat accrued to thst time, and ell money secured hereby ahall become due and payab~orthwith, or thereafter, at the option of said 1lfortgagee, ss fully and comp~etely as if all the asid sums of money vrere t~riginally atipulsted to ~be paid on such day, anr- ~ thing in said note or m this mort~age to the contrar~? notwithstanduig; sud t6ereupon or thereaftPr,.at the option ` of sa~d 1liortgagee, without notice or demand~ suit at law or in equity. msv be prosecuted ea ~f all mone~-s ~ secured hereby hnd matured prior to ita institution. The Mortgagee may ~oreclose this mortgage, as to tf?e ~ smount ao declared due and paysble, snd the said premisea ahall be sold to astisfy and psy the same together ~ with coats eupenses, and sllowances. In case of partial foreclosure of this mortgage, the mortgaged prcm~ses ~ ahall be so~d subject to the continuing lien of thia mortga~e for the emount of the debt not then due nnd ~mpaid. 3 ~ In auch case t~e provisiona of this par~graph msy again be svailed of thereatcer !mm time to time by the ~ ~ Mortgagee. 12. No wsiver of any covenant herein or of tLe obligation secured hereby ahall st sny time tl~ereeiter be ` ~ held to be a waiver of the terma hereof or of the note secured hereby. _ ~ 13. The lien of thia instrument ahall remain in full force and effect during any postponement or extension ? ~ of the time of payment of the indebtednees or any part thereoi secured hereby. % 14. This mort~age ia given to eecure the purchsee money~ or s psrt thereof, of the landa herein described > and is ezecuted and delivered contemporsneovsly with the deed therefor. ~ 15. If the Mortgagor default in any of the oovenants or agreements contained herein~ or in said note, then ; the Mortga~ee msy,pedorm the ssme, and all eapenditures (mcluding reasonable ettorney's fees) made by the ~ _ Mortgagee in so dou~ shall draw interest at the rate provided for in the principal indebtedneas, and sl~ail be ; reps able thirty (30) dsya after demand, and, together vrnth interest and costs accrued f~? tl be secured ~ by ~ IDOrtgBgC. r ages tLe Mor r shsll execute and deliver s~a~le ~ 16. Upon tLe request of the Mortg tgago , notes for the sum or eums advanced by tbe Mortgsgee for the alterstion, modernizstion, improvement, main- ~ teaance, or repsir of said prn,~nisea, for tuxes or aeseeameats agsinst tbe same snd for any other purpose autUor- ised hereunder. Said note or notes aLall be eecured hereby on a parity with and sa fully as if tl?e sdvance ~ Bvidenoed thereby were include~ in the note first deecribed above. Said supplemental note or notea shsll bear - _ _ -w - _ . - ~~~~.~:;~~~~i~~_ _