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HomeMy WebLinkAbout2501 , i ! the deficiency. Such payment ~hj?1~.~ ~nsde~ivi~hiti ~hirty (30) days aft.er wri~ten ~o~ice Irocn the viortgagee ~ stating the a~nount ot the deRcienc~, ~which notice may be.~iven by mail. II at ~?ny time the Mortgagor at~a~l tendet to the Mort~ee in acconfance wi~h the prov~o~is ot the note eecured hereby~ (uU gsyment ~ oi t~be enLire indebtednees repreeented thoreby~ the Mortgagee ue trustee shaU, i~ oomputing the smount ot ! such indebted~?eaa~ credit to ~he account ot the I~iortgagor uny credit balence remaining under the proviaiona ot o[ asidp~ragra ph 2. IL there ahall be s default under sny oi the provisions oi thia mortgage resutting in • public esle o[ the premiaes covereci hereby~ or if tha Mortgagee acquirea t~e pmperty otherwiee atter detsult, the Morigagee aa trustee ahaU apply, s~ the time oi the oommencement o[ euch proceedinga or st the tinis the pmperty is otherwiae acquired~ Lhe amounC then remaining w credit o[ Mortgsgor uader (a) ot par~raph 2 preceding as a credit oa the intereet accured and unpaid snd the bslsnce to the principal then rem~untug twpsid on asid note. 4. He will pa~r a8 la~oe~„ ae~ee~eab, wstee :'r?ta, aod olhee~o vernmental oe munieiPd ch~rse~. 8aee. or ionPoettions, !or whioh proviedon Las noi been m~ds herei~betors, and in d~sult theeeoE t6s ;doct~ee m~,Y p1~ ~ ~ame; ~nd tbst hs will promp~? deliver !be o&cial reoe~pt~ theretor to fbs Martiag~es. 6~. He ~ill permtt~ oommit, ot euQe: no wasl~, imp~irmes~ or det~ariontion of add property aeaay p~rt thereot~ ' e~ooept ra~sonabls we~; and t~a~e• ~ad in t6s eveat at tbs i urs of ~bs Moe~t~or to keep the buildin~ pe~ei and t6oes to bs erecte~ on ~aid pre~ise~, a improve~ent~ tbereon, in aood npair the Most~aaee miU? malc~e weh rep~ies a~ ia its discretion iL msy deem neeeeeary for t6e P~'oPer W'eservati~ t6eeeo~, and the fud anwian0 of aah ~?ad avary a~ p~yment ~ha]I b~ due aad p~yabb thie~,y (30) dyrs aft~ d~and, and s6all bs see~u~ed by 4Le lien o[ tLis moct~s. 4. He will p~y all and dn6uLe ths oosh. aad eacpen~es, iaeludtng reasonabb Lwysr'~ fees. and oods at abed~r~ts oE tit3e. iaaure~ed or paid st any tianel~o~tt~~ee becsuee ot tbe failuse oa We patt of the Mort~oe P~'~'iPWY +~~y to peifo:m the a~em~nt+~ and .Qovenants of said pro~nieeury aote and thia mortga~e, snd s~d oos~s, ch~ and ea~penees a6sll bs immbdis~r dvs.na p~ysbls.na eb.u be se~urea by the lien of this mort~s. 7. He wiII oontinuous~ nuintain Lasard i~nsurmos, oi such typs ort~pes snd a~wunta as Mortgrges m~~ imm time to time requirs, on tLs improvement~ now or Lere~tter on esid prem~es~ and eacept ~vhea paymea0 to~ aII such premiums has tLeretofore been anad~ under (a oi psragra~h a hereoi he ~viU P~Y Prompti~r when due any prem~ums theretor. All insuranoe aL~ll bs ~ ia oom~a~es ~?pPmve~ by 11i a~d the pol~ remi ~es and naewals thereoi aLaU be Leld b~ Mortgagee and h~~e att~aahed thereto loes payable uses m i~vor oi ~ 0 sad in form sooeptable to t~e M In e~ent oi loes he v~riU give immedi~ta ~t~ioe by mail to Mor'rgagee~ ~ and Mar~6ga&eie bma~ m~lioe prooi ii nut auds promPtd~? by Mortgagerr and e~ch rosuraaoa oomp~R7 ooaoerned is bera auWo~ed snd directed to make p~yment ior such loe~ direc ta Mo~~~ unt~d d t~o Mortgegor and ~ortgagee jointly, snd the i~uraaoe proceeda, or any gart tLee+e~ may be ap,p7ied by I?iort~ ~agee at its option eit6er to the reduction oi the indebtedneas hereby secured or to t~he res~ora4oa or repair oi !he propert.j damaged. In aventi oi foreclosure of this mortgage or other ~er of titde to !he mortgaged p~+operty ~a eztingwshment of the iadabtednees secured hereby, a~l rigLt, title, and interest oi tbe Mortga~ot 3n and to an~ mauranae policies~ thea ia fon~e aball psss to the purcL~ser or grantee. 8. He will not ozecute or file oi r~cord sny insttumeat w6ich imposee a restriction upon the sale or occu- psncy of the propErty described 6ereia on the basis of r~ce. eolor, or creed• 9. If the premises~ or any ps~rt-t~eof, be oondemned under the po~ver of eminent domain, or acquired for a public use, t.he dsmagea awarded, the proceeda ior the of, or tha consideration for auc6 soqwai- tion, to the extent of the full`amount of the remaining unpt?id in ebtednesa~ secw~ed by~ thia mor!gage, are hereby assigned to the Mortgagee, and hia heira or assigna, and ahsll be paid forthitirith to s~id Mo-~agee ; or his ee to be applied on account of the last msturing inatal~Cnents vt such indebtaess • provided, os~- ~ ever, th~ortgag~e or his assignee, msy at his discretion pap direct to the Mortgagor, his ~?eirs or assigns aqy part or aDI of sucL award; pcovided, that if the losn is guaranteed or insured, the oonsen6 of the guaran- tor or insurer is obtained in advance of saidp aymeut. 10. The Mortgagee m~y, at anp time ~en 'ding a auit upon tws mortgag~e ~pply.to the oourt having jurisciic- tion fbereof for the appointnaent of a receiver, and such oourt s6:11 fortfiv~nt~ s~pouit a receiver of the premises j cooered Lereby aU ~nd ~ng~lsr. includin~ all snd aingular tha inoome, profits, iasues, and revenues fmm ~hat- i ever souroe denved, e~ch and every of w~ur.h it being eacpreeely nnderstood, is bereby mortgaged aa if speci&cally , i set forth and desc~ibe~ in the grantin8 anc~ habendwa ctsuses bereof. 3uch sppomtmen~ ahsll be made by ~ such court as aa admitted eoluitY and a mstter oi sbeolute right to ssid Mortgagee, and without reterence to ~ the adequscy or insdequacp of t6e vslue oi the property mortgsged or to the solveacy or insolcency of said Mo ~ag r or t6e defendanta. 3uch rents pm6ts, income, ~ues, and revenues ahstl be applied by such receiver f a~a~u+ding to the lien ot thia mortgage an~ the practice of auch aourt. In the event of any defsult on tbe part ~ of the Mortgagor her~under~ the biortgagc~r a~rees to psy to the Mor agee on demand ss s reasoaable monthlv agc rentsl for the premises an amount st least eqwvalent to ono-tw?elf th of th~aggregate of the twelve monthlv inatallmenta paysble in the then current yeu plus the sctual amount of the annual ta~ces. s~eaements~ water ntes, and insuranoe premiums for auch year not oovered by the aforesaid mont6ly p~yments. 11. In tha event of aay breach of this mortgag~e or default on the part of tLe Mortgagor, or in the event tL~t any of asid auma of money herein referred to be not pmmptly and fuUy pud according to the tenor 6ereof or in the event th~t each aad every tbe stip ul~tions, agreemeat! condition~~ and oovenu?ta of aaid nate ~n~ tkis mortga~g~e, are not duly, P~~PvY. and fully perforn~ed or ~ the Mortgagor be adjudicated bankrnpt or I u~g~ . e msde defendant in a banlcruptcy or receavership pmceedu~g,s;-tLta in either or aay'st~ch event, the asid aggre- gate sum mentioned in said note then rem unpaid, ~th' it?Eerest aocrued to thot tiaae, and all monep secured hereby, shaU become due snd psysb~orthwith, or thereafter; st the option of said 111ortgsgee, as , fuUp sad completely sa if aU the said aums oi monep ~vere originalip stipulsted to be paid on auch d~y~ an~- thing in said note or m this mort~sge to the oontrar~? notw?ithatanding; and thereupon or theresfter, st the option of ss~d Mort~agee, wnthout not~ce or damand~ swt at la~r or in eqwty. mav be proeecuted ~a if sil monevs eecured hereb~ ~i?d mst~ued prior to its institutaon. The Mor gee may ~orecloae this mortgage, as to the amount eo decl~red due aad payable, and the said premisea aha~ll~ sold to satisfy and p~y the same together ~ with costs ezpenses, and allowaaces. In case of partial foreclosure oi thia mortgsge, tLe mortgaged prnmises ~ eLall be so~d subject to the continuing lien of tLis mortga~e for fhe amount of the debt not then due and iu?paid. ~ In such case ~he provisiona of this paragraph may agaan be sva~ed of thereafter from time to time by the ~ irlortgagee. 12. No ~?siv~r of any ooveaant herein or of the oblig~Won eecured benby ahull st any time thereeftrr be Leld to be s w?aiver ot the terms hereoi or of tbe note eecur~ bereby. 13. Tha lien of this instrument shall remain ia full force and effect during sny postponement or extension " of tLe time ot psyment ot the indebtedneas or snp part thereof secured bereay. ~ 14. This mortgsg~ is given to secun tbe purchase money, or a part thereoi, oi the laads Lerein-described . i and is ezecuted and delivered contemporaneously with the deed tLerefor. 15. If tbe Mortgagor def~ult in aay oi the ooveaaats or agreenaenta oontsined herein, or in said note, th~ - tbe Mortgagee may pertorm the same, and sll ezpendicures (mcluding reasonsble attorney's fees) made by the be Mo ~n eo do'wg ahall draa interest at the rate pmvided for in the principal indebtedness, snd shall be t,ber with interesC aad uoats wcrued thereoa, shall be secured repay ~b e tbirt.y (30) days dter demand, and, toge ber by t,L,s mortgsge. 16. Upon tLe requeat ot ti~e Mrtgag~e the Mortgagor shall eacecute aad deliver ~ supplemenW note or note~ for the sum or sums sdvanced b~ y tFis Mortgagee for the alteration~ modernization, improvement, main- teaance, oT npair of said premises, for tsaes or issessments agsinst tbe suno and for any other purpoee author- ised henunder. 3aid not~e or notes shall be secnred henby on a puit r?ith and aa fuUy as ~t the sdvance e~ideaoed tLereby were included in tLe note fint de~cribed aba~b. R supplemental note or notes shall bear _ . y~ : : - ~ ~ .t~ ~ t . . _ .