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HomeMy WebLinkAbout2922 ? • ~ i ( ~ ~ ~`t ~he deficiency. Such pay ment shaU b~ wA~de withr~ ~l~llftl~? ~30) d~ys dter written notico trom tha Mortgsgee steting lhe amount oi the deficiency~ which not,ica may be ~iven u~ maa. It at a~y time the Mortgagor eha~l tender to the Mortg,?gee in scconisnce with the provisions ot the note secured hereby~ tull patymeut ' ot the entire indebtednesa representsd thcrcby~ the Mortgagee as trustee ahaU, in oomputing the ~mouat ot ~ such indebtedness. credit to the sccount ot the liortgagor any credit balance remaininpc under the provisioos o[ ot said paragreph 2. It there atiall be s defuult under Any ot taa provisious oi this mortgsge resulting in • public sale oI the premisee covered hereby, or it the MortgaAee scquires the proper~y otherwiee siter de[ault, the Marigagee as ~ruat.ee ahall spply, a~ the tame ot the commencement o[ such proceedinga or a~ the time the property ia otherwiae acquited~ the ~mount then remaining to credit ot l~iortgsgor uader (a) ot para~raph 2 preoedmg aa a credit on the interest aocured end unoaid and the balance to the principsl then temauung uApaid on ssid note. Hs will pqr ~D t~~„ aMesmeaq, wat,er s~t~e~ aod ot6ee~overnment~l a muoiciP~i ch~r~e~ 8ae~. or ~ imPo~ttons, tor whic6 pe~ovieton Las not been made hereiabeio~e. and in default thereoE t~hs Mae~,~i'es ma,Y P~U? ~ ; •ms; ~ud tbat bs will pe~omptbr del~ver tbs oiciv reoeipts tberefor tp tbs Mort~~es. b~ He will permi~, oammit, or a~![ee no waets, impsieaneat, or det~eciorsttoa of said properl~ ab~ tlra~eof - ; eocoept re~aonsbls weat aad tear• and in ths ev~t of i6s f~ilure ot tLe Mort~or to ksep t~ on said : pcemises iwd lhose tio bs erecte~ oa ~aid pemises„ or improv~eats tbereon~ in ~ood repair t6e Morta~ee may + maks woh repaics ~ in its dL~aretion it may dee~an neoeaeasy i~ tbepr~:a~r preservation the~eo~. and the fWl amounL ~ ot eaoh and every a~ p,ymant ~11 b~ dus aad P~3?abis tbir~7 (30)~dpn aft~r damand, aod ~all bs ~eanred b~r ? tbe }iea ot t6i~ mort~~s. ~ d. He w3II p~y all aad dn~lir i~s.oosts, clh~~et e~and eo~pen~er. indudin~ reasonsbk Lwya~'~ fees, ~~ad ood~ at ~batraats at title, inaurred or Paid at~ atq? t~i1e bY ort~ee beo?uee of t6e isilure on the part ot the Mo~t~~ Pe'on?Ptbr and i~,1~ to pe~rfoim t6e a6reements and o~venants of s~id pe~omiasory not~e and this morc~.ae, aad ea:d ~~'6~, and eupenses a6au bs immedi.tebr dne and p,ysbb and .bali bs eecured by tbe uea ot tb;s morc~.~e. T. He w~71 oontinuou~ maint~ain basard insurmoe, oi such t~pe or t~pes and amounts ~s Mortgagee m~~ trom time t~o f,ia4e requirs, oa the improvements now or LereatLer on uid p»mises and exoept when pa~men~ tor all sucL p:;emiums Lr theretoiore been made under (a of pa.-~grsFh 2 hereoi ~e will p~y promp~,~y ~rhen pa es due any premmms theretor. All i~uranoe shaU be c~r~ in oompanties appmve~ by I1i ~nd tbe pol~ cies aad renewals thereof ahall be Leld b~ Mortgagee and b~rs attached thereto loas payab~ uses in f~vor oi and in form ~a~eptable t~o tbe M In event oi loes he will give immedi~te notioe by mail to Mortgagee, ~ •nd Marl~g;a~ee m~y maic~e _proofa~~ ii mt made Pt'omPt~b by Mortg~gor, aad e~ch insunaos aompaR7 E oonoerned is tiereb sutbonsed and directed to make psyment for such loes direc to Mo w4tead ot y~ rt~~ m to Morfgsgor and Mortgagee joint7~, sad the i~uranoe prooeeds, or ~ny p~ t~ere~ may be aprptied by 111orw ! ~gee s~ its opvon either Lo we reduction oi tLe indebtedness hereby ee~u~d or to t~e reston4on or repait of ths propertj dam~ged. In eveat oi foreclosure of thia mo~or other tranafer of title to the mortgaged pe+opert~ in esting~hment oi the indebtednees secured Lersby, r~ht, title, and interest of the Mortgagor in snd to aq~ ineuranos policies- then ia foroe aLall pass to the pum,baser or grantee. 8. He will not e~ecute or file of reoord sny inatrument whicL imposes s restriction upon the sate or occu- pancy of the prnperty described herein on the bssis of rsce. ool~, or creed. 9. If t6e premisee, or any part thereo[~ be condemned under the power of eminent domain, or acquired for a public use, the damages awarded, the proceeds for the tskin of, or the consideretion for auch aoquisi- tion~ to the extent of the full amount of the remaining unpaic}~ i~gbtednees_ saoured by this mortqage, are hereb~ assigned to the Mortgagee, and his heira or assigns, and et~sU be paid~ foit6with to said Mo~agee or his ee to be applied on accwunE of the Isst matunng iastallments of such indebtnese; provided~ oc~- ever, the iortgag~e or hia assignee, msy st his discretion pay direct to tLe Mortgagor, his Leirs or asaigns any part or all of suc6 aw~rd; prnvided, that if the losn is guuanteed or inaured, the oonsent of tLe guaran- tor or insurer is obtained in advance of saidps ym~nt. ~ 10. The Mortgagee msy, st anp time pen ~dmg s suit upon ttne mortga~e~spply.to the court hsvinR jurisdic- tion thereof for the sppointment of s rece~ver, and such oourt a6all fortFiwi s~point ~ receiver oi the premises oovered Lereby all and su~gular. inciudir~ sU snd eingular the inc~me, pmfits, ~suea, and revenues Irom ~rhat- ever eounx denved, each and every of ~uch it b~eu'~g ezpressly underatood. is hereby mortgaged as it specificaUy eet lorth ~nd described in tLe gcanting an~ hsbendum clauses bereoi. Such sppointment ah411 be made by such court ss an admitted equity and a matter of abeolute right to asid hiortgagee, and without reference to ~ the adequacy or inadequacy of the value of the pmperty mortgsged or to the solvency or insolrency oi said ~ Mo tgs~ r or tbe defendsnts: Such rents, profita, mcome, issues, and revenues ahall be applied by such receiver acoo~rd~'ng~ to Lhe lien of this mortgage and the practice of such oourt. In the event of eny default on the put ~ of the Mortgagor hereunder~ the riortgagor s~rees to psy to the Ho on demsnd aa a reasoneble moathly ~ reate?1 for the premisen an unount at least equivalent to oae-twelfth of theaggregate of the twelve monthl,v ~ installments paysble in the then current year plus the sctwl amount of the annual taaes, aseesemente~ water rstes, uud insuranca premiuma for auch year not oovered by tLe aforesaid montWy papmenta. 11. In tLe event of any breach of chis mortgag~e or deisult on the part of the Mortgsgor, or in the event tb~t any of asid auma of money henin referred to be not promptly and fully paid according to the tenor hereof~ or in the event th~t each and every tbe stipulations. agreemente oonditiuns, aad covenents of said note snd Lhis mortgag~, are not duly, promptly, aad tully performed or i~ the Mortgsg~or be sdjud'ecated bankrupt or made defendant in a bankruptcy or receiverahi~ proceedings; tLen ia eit6er or any such event~ the said aggre- gate sum mentioned in said note then rem unpud, With intereat accrued to that Linne, and all money secured hereby ahall become due and payab~orthwith, or thereafter, st the option of asid riortgagee, as _ fully and comp~etelp as if all the said sums oi money were originslly stipulsted to be paid on such day~ an~ - thing m said note or in this mort~age to the oontrar~ notwithstanding; md thereupon or theresfter, et the option of sa~d Mortgsgee, without notioe or demand, swt at l~wr or ut equity~ mev be proeecuted ~s it all moaevs eecured hereby hud matured prior to its inatitution. The Mortgsgee msy {oreclose thia mortgsge, as to tf~e amount so declared due and psyable, and the said premises ahall~e sold to satisfy snd pay the same togrther with costa eupenses, and ~llowaacee. In case of psrtisl forecloaure of this mortgage, the mortgegrd pmm~ses ~ shall be eo~d subject to the oontinuing lien ot this raortga~e for the amount ot the debt not then due and ~mpeid. In such case the provisions oi this puagraph may aga~n be ~vailed of thereatter ieom time to time by the ~ ~ Mortgagee. ~ 12. No w~iver of my covenant herein or oi the oblig~tioa secund hereby ahall st any time tl~ere~(ter be r Leld to be a~vaiver oi the terms hereof or oi t6e note secured henby. 13. The lien of this instrument shall remain in full lorce and effect during any postponement or extension oi the time of payment of the indebt,edness or any put thereof secured hereby. 14. 'Ibis mortgag~ is given to secun the purchase money, or a put thereof~ of the lands herein described aad is ezecuted and delivered oontemporaneoualy with the deed therefor. 15. If tbe Mortgagor dei~ult in aay oi the aovenants or agreements oontained herein. or in asid aote. then the Mortgagce may per[orm the same, and all expenditwrs (including reasonsbte attorney's tees) macie bp the Mortgagee m so do~'ng shall draw? intenat at the r~te provided for in the principal indebtedness, ~nd shsll be ~ npay~~ble thirt~ (30) d~}rs aftu demand, aad. toget6er with interest aad oosts accrued thereon. ahall be secured ` b, Wi. mor~age. 16. Upon the nquest oi t~he Mo tbe Mortg~gor shsU euecute sad deliver a supplemental note or notes ior the sum or sums ad~aaced b~Mortgagee tor the alteration, modernizttion~ improvement, main- tenanoe~ or npair o! s~id premises, ior ta~ces or weaements against tLe same and tor any other purpos~ autl?or- ~ iud henunder. Said note or notes ahall be secured bereby oa a parity writh and ~s fully a d tl?e advu?ce e~ideaoed tLereb~ waro iaduded ia t6e note Snt de~cribed ~bo~e. Said suppiemental note or notes ahaN beu s~176 ~~E2919 _ - - r~,~ ~ : : _ a _ .