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Home My WebLink About1202 AND the soid Mo?tqo9o? h~reby ooveeants and a~r~~s with th~ said Mo~t9o~e~ as fdbws: FIRST: Thot th~ Mort~aqor is lowfully s~ized of th~ abov~ desuibed pr~rnises i~ fee simpl~ and has ~ood ?i~ht ro sell and oww~r Ih~ sam~ fo the Mort~ay~et that tM said premis~s a~~ fre~ and discharged of and fran oll toxes, tox tiN~s or ce~tificot~s, jud~ments, mechanic's li~ns ond ~ncvmbroncK of anr natur~ o? kind whatso~v~~ and thot th~ Mort~opa will fully wa~~ont and d~f~nd ths som~ to Ih~ Mo~t~aq~~, aqoinst M~ lawful tlain~s and dema~ds of all p~rsons wlwmso~ve~, aed will maics wth fu~the~ assu~ances to p~rf~ct fee simpl~ titl~ to said Iend, in 1h~ Mort~apse, os may roasonabl~ be requir~d, and will por 1M seve~al swns of mon~y aqrsed ie the said rate to b~ poid ond oll instailmenb of principal and interesf ther~on p~ompNy wMn dve, and oooordie9 to M~ tnM tena ood ~fF~tt of Ih~ soid i+ot~. SKON~: That th~ Monqapor will par all and si~ular tM taxes, oueuments, levies, ond encwnbronces of ev~ry nature on the above desuib~d property, ond upon thi: nwrtpnp• and c~ote, or the moner s~cured tMreby, before delinqu~ncy thereof ond ret~ipls evidencin~ paym~nt of said tax~s, assesuaeMs, levies and e+xvinbrances shall b~ depositeei wiM the Mort9oyae on or b~fore March lst of ~och svaeedinq reor durin9 the ternn of this ewrtqo9ej and if some be not prompNy paid when due, ~he Mortpa~ee mor (without obli9atio~n to do so) Pay the same. or bKane punha~r of o~y lowfvl evidence thereof, o? certificat~ the~efor, wiM~out waivinp or olFettie9 vny ri~ht hereueder and in fhis nwrt~aQe, or the said nott which Mis nwrtqaqe saturesj aed wd~ paymtnts or expenditur~s so made shall bear interest frwn 1M date fh~reof ot Me ~ate of ei~ht per teNum (8~1 per annum. THIR~ That M~ Mo~t~apo~ will keep cll real and persawl Propertp now or he~eaker ~ntvmbered by the lien of this nwrtqa9e inwred as mnr b~ required from time to time by tM MoH~a~ee o~ai~nt bss br flro, windstorm a~d othe~ hatards, cowaMies and oontin~enciK for wch periods and for nof less Nw~ such amamis os enay be requi~ed by 1he Mort~a~ee ond ro par prpnptly when dw all pnmiwos for wd~ inwrance. The omounts of wch i~wanc~ ~equired by the Mort~a9ae ore expreuive of onlr 1he minimwn nmamts for which said i~wrance sholl be writt~n aed it shall be incwnbent upon the MoH9a~or to maiMoa+ wd+ odditionol insuronce as moy be neceuary to meet and aanpl~r fullp wifh all oo-i~urance roquiremenh ca+tai~ed in said policies ro Me end that wid Mort~apor a not o oo-inwror 1M?wnder. lnsuronte shall b~ written br a oanponr or oomponies approved by the Mo?t~aqee o~d all polici~s end n~ewals Meroof shall be heid br the Maiqa~ee. All detailed desiqnations br ihe Mortga~w which are aaepted by the Mort~a~e~ and all apnenNMS b~tween Mort~a~ and Moctqopee relotiey to inw~aea. now existin~ or hereaft~r made, shall be in writinp and sholl be a pa~t of lhis mort~ape aareement cs ~vllp os M~ou9h set forth verbatim herein aed shall ~ovem bolh parties henlo ond M~ir wocas~s aod ossi9es. No (ien upon anr of said policies of irourance or upon any refw~d or ~efum praniwn which nwr be poYobie on fhs cancellaKon or termination Ihereof. shall be qi~?en ro ori~er Nx~n ~he Morr- 9apes. excepf br Proper endo~nt alFix~d to su~h policy and approved br Mortqaqee. Each policy of inwronce shaN hovE oifix~d lherefo a Stondard MoK~ape~ Gouse aaeptoble !o the Mort~a~ee, mokin~ all bss or losses under w~d~ policp parable to ths Mort~o~e~ os its interest may appear. In the ev~nt any swn or wms of ma~ey beoane payobie therew~der fhe Mo~t~a~ee shall hove tM option fo receive and oPP~Y ihe same on oaoour~t of 1he indebtedneu hereby sea~ed. o? ro permi~ fhe Mor~qaqo~ ro receive and use it, or any part ther~of, without Ih~reby waivin~ or impairinQ any eqvit~r, lien or ri~ht under and br virlue of this mortqape. In eveM of los: or phrsical danwp~ b th~ ~uort~a~ed proptNy 1hs Mort~aQor shaq ~ive inanediate notioe N~ersof by nwil to the Mort~a~ee and 11N MortQapa~ may nwke proof of bss if the sams is eat mad~ PranPth by the Mort9a9a. ln event of f~sdowr~ of Ihis mort~a~~ or oth~r traosfK of tiN~ b tM rnorf~oQed propertp in extin~uishment of the indebtednsss seaued herobr, aU ri~ht, title and inter~st of the More~a~or in and to ony inwranca policies iMn in foroe shall pass to the purdwser or ~rantee. Upon a~r dsfoult tfieroof, the Mortqa~ee may (but wiihout obli~otion on its part so ro do) Piace inwrance on wd~ buildinps ond poy Ihe pn+n~n and dwrp~ wd~ suna so poid to 1he Mort9a~ ond wd~ sums of ma~ey so paid shoq bear i~erest from fhe dote of pormeet ot the raM of ei~ht per o~un (8~ per anw~n. ! FOURTH: That a!I wms of ma~sy paid or caused fo be paid by ihe Mort~a~ee under ihe terms of this mort~a~e ond herein I ~a~h~ P~'o'vid~d Qnd indudinp arry sxpeeses iowned by Ihe Mort~a~ee in aollection of 1he swn sewred br lhis nartyaye, ` sholl be oov~r~d by the lien of this mort~a~e, tM wme as 1hs swns of nwnsy r~preseeted by the note whid~ tha mort~o~e sewres. FlFTH: To pennit, oanmit or wfFer no waste, impairmeM or deterioratioe of said propert~r, or any part thereof, and upon ~he foilure of 1he Mort~o~ ro ke~p 1M buitdinps on said Propertp in ~ood coeditio~ of repair, M~e Mort~c~ee nwr de+na~d ~he immediate ~~pair of said buildinps, o? on inueas~ in N~e omount of securit~?, or 1he immodiote repo~nnent of the debt heroby sewrod, and ~he failure of N+e Mort~apor a ao~+pyr wiM+ said deewnd of ~hs Mo~~a~ee Eor- a period of fiheen (15) daps shall oa?stihrts a breoch of tFws nwrt9a~e, and, at the option of the Mort~a~~s, immediately moture the sr?tire unpaid principal and inte~f herebr sewred, end fhs Morfpaq~e may, wiN~ouf eotie~, ie~stitufe proceedin~s 1o foredose fhis nart~o~e, and aPP~Y ~ . the appoinhneM of o receive?, os hereimafter provided. SIXTH: That fhs Mort~a9or h~~ebr Pr~oenis~s, aovena~s and aqrees to par the sums of ma~ey and interest as mentioeed m soid promissory not~, to~elher with o~r and aN oTher wms jusMr due and owin~ ths Mortya~ee by 1he tenes therein, and sawred 1o be paid as stated therein pranptlp when dw. lf d~fcuM shaL be made ~n ~he po~ of M~e ~~d wms of ~noosr or anr part thereof os provided in the said note or 1hK nwrt9a~e, or if th~ iMerest lhat mar beoome due thereon or ony part thereof shall be in defoult and unpaid for a spoce of Aheen 1151 days, or should ths Mort~apor breach or fail to aomplp with amr other oovenaM or aqr~emeM on fhe part of 1he Mo~tQopor to b~ oomplied wilh (in M+os~ ooses in whid~ the option of 1he Mort~aqee of aaelera- ~ tion is not olhsrwise expresslp provided I~r~ and wd~ br~ad~ w noe-aanpliance aontinue in existence for o space of fifteen (151 - doys, Men and from theeteforMy at 1he opfion of ths Mortpa~ee and withart notioe to the Mort~a~, the whde of said principal swn expressed in wid note, to~ether with all other wms therein os weil os herein provided for, shall beoome inrnediatelp due and Perabk, witFau~ notice ~o the said Mort~a~. ' SEVENTH: That in cose it slauld beoorn~ nscessary to plote this nwrtsaye and the rate sswred herebr or eifher of them, ~ in th~ hands of an attomer for aoll~ctiay the said Mort~a~or oovenanfs ond a~re~s wifh the Mortqa9ee fo pay aQ cosis, char~es ~ ond expenses of wch aollectiay indudirp reasonobl~ attomer's f~es whefher oolleded br foraclosure or otherwise. i ~ i HGHTH: Thot, in the ev~nt enr wit is brou~ht upon this mortqa~e, wheth~r to foreclose it, ro ~eform it, or otherwise, and/or fo enforre pormeM of anr daim he~eunder, ths Mortqa~~e mor o~,~y ro any oourt havirp jurisdiction thereof for the appoir~tment of a receiver of said nart~a~ed propert~r, as wetl as fh~ inoome, proHts, issues and reve~ues thsreof, and the wid 600K 180 PACE~.~99 -2- ~.y~=-..,- _i - - - L,w.~ - . _ ~ ~ t~~ ~