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Home My WebLink About0906 the deficiency. ~uch pu•inent slu?11 be ~uude•w~thi~t thir~x•(30) ~I~ys ~[ter ~•citte~~ notict~ (rom thc ~tortKa~ee stxtin~ the an~ount of t~ie defi~•ienc~, ~hich not~ce n~Ny b~ ~iven by mNil. It at uny tinte the ~1ort~aKor sha~l teu~ler to th~~ ~lort~~?Ree in ACl'OClINI1CC WItII t.he pro~ ~s~ons of lhe not~ sr~•urec! hereby, full payment ot the entire indebtcclness reprc•sentc~i tl~~~reby, the ~1ortKHKee ns truatce shaU, in romputin~ the amount ot such indebteJ~?ess, credit to tlie ae~~ount ot the ~tort~~uKor any credit, bnle?nc~ rc~muining under ~he provisions ot a) of said purN ra h 2. It there sl?~ill bc e defau~t under any o( the pro~•isions o( tliis u~ortK~e resultinR i~ a public sxle o~ti,e premises ~o~~erc~l I~ereby, or if the ~fortguKee acquires the property otherwise atter ~lefault, the hlortKekee as trustee shall apply, at the ~ime of the commencement of such proceedinKs or at the time the property ~s otlierw•ise arquiced, the ati~ount tlien remaini~~ to credit of ~tortgagor uc?der (a) oi para~;raph 2 preceding us n creciit on ti~e interest nccured and unpaid and the bala~ice ta tt~e principal t,hen remaming uapaid on sa~~l ~Ms. 4. 8e will pay ~11 t~a~[es, seseesmente, wste~ ri?tes, aad otber ~ovetnmentsl or municipal chargee, 6nee. or i~nposieione~ for which pmv~aion haa not been made hereinbefore~ and in default thereot the Mortgagee m~y pqy the eaane; and t~6at he will prompt~y deliver the o~cial reeeipts therefor to the Mortgagee. b. He will permit, oommit~ or ~er no wa8te, impsirrment, or deteriorstioa of satd property or sny part thereof except reaeonuble wear and t~?r; and in the event of the fsilure of tbe Mortgagor to keep the buildin~s on aai~ premieea and tboee to be erected on esid premiees, or improvements thereon, in good repair the Mortgagee msy mslce such repairs aa in ite dixretion it msy deem neceeeary for the pmper pr~eervation t6ereo~, snd the full amount of each snd every such payment shall bs due aad p?yable thirty (30) di?ys after demaad, and shsll be eecured by the lien o! tbis mortgage. 8. He will psy a11 snd ain6uLr the ooeta, and eupeneee, including reaeonsble Lwyer'a feee, and ooets af sbetn?cts ot title, incun~ed or paid at any time by~e Mortgagee becauee of the failure on the part of the Mortgagor ~re~lY ~~t~l~r te ~et#er~ ~aaeata iwd wv~a~nLa of said ~ro~ai~ry ~nLe s~ad thia mortgage, and ss:d ooete, ehargea, and expenees shall be immedistefy due and psyt?ble and shall be eecured by the lien of this mortgage. 7. Iie ~vill oontinuoue~y maiatain hasard iusuranoe, oi such type or typee and amounte sa Mortgagee msy trom t,ime to time require, on the impsovement~e now or hereafter on said premisea snd except when payment tor all auch premiuma has theretofore been msde under (s) of paragraph 2 hereof ~e will psy promptly whea due any premiums therefor. All insurance ahall be carried in oompanies appmve~ by 111ortgagee and the poli- cies and renewsla thereoi ahsll be held by Mortgagee and Lsve attached ther8to loes payable cfausee in favor oi and in form acceptsble to the Mo In event of loae he will give immediate notice by mail to Mortgagee, •nd Mortgagee may mske.prooi~o~e if not mada promptly by Mortgagor, snd each inaursnce aompan~ ooncerned is hereby~authonzed and directed to make psyment for such loea directly to Mo~ee instead oi to Mortgegor snd Mortgagee jointly, and the inaurancs proceeda, or any part thereof, may be app 'ed by 111ort- gagee at its option either to tbe reduction oi the indebtedness hereby eecured or to the restoration or repair oi the propetty dama~ed. In event of foreclosure of this mortgage or other transier oi title to the mortgaged property in eatingu~shment oi the indebtednees secured Lereby, s~l right, t~tle~ and interest of the Mortgagor m and to any inaurance pohcieB~ then in force ahall pssa to t6e purchaser or grantee. . 8. He will not execute or file of record any instrument which imposes a restriction upon the sale or occu- pancy of the pmperty described herein on the basis of race~ calor. or creed. 9. If the premises, or any part thereof, be condemned under the power of eminent domain~ or acquired for a public use, the damuges awarded, t.he proceeds for the takin of~ or the considerat.ion for such acquisi- tion, to tLe extent of the full amount of thc remaining unpaid in~ebtedness secured by this mortgage, are hereb~- assigned to tl~e Mortgagee, and his heirs or ass~gns, and shall be paed forthwith to said Mortgagee or his assignee to be applied on account of the last maturing installments of such indebtnesa; provided, t~or~- o~er, the Mortgag~e or his assignee, mn~ at his discretion pay direct to the Mortgagor, his heirs or assigns any part or all oi such award; provided~ t~at if the loan is gueranteed or insured~ the consent of the guaran- tor or insurer is obtained in advance of asud payment. ;0. The ~fortgagee may, at any time pending a suit upon ttua mortgage~ apply to the court hnvin~t jurisdic- ~ tion thereot for the appOintment oi a receiver, snd such court ahall forthv~nth appomt s receiver of the premises ~ covered bereby all and singular. includin~ all and singular the income, profits, issues, and revenues from ~~hat- ever source denved, each and every of vrhich, it being expressly understood, is hereby mortgaged as it specificaliy ! set forth and described in the granting and habendum clauses hereof. Such eppointment shall be made by E such court as an admitted equity and a matter of absolute right to said ~fortgagee, and without reference to ~ the adequacy or inadcquacy of the velue oi the property mortgaged or to the solvency or insolrency of said ~ Mort agor or the deTendants. Such rents, profits, income, issues, and revenues shall be applied by such recei~ er ~ acco~ing to the lien of this mortgage and the practice of such court. In the event of any defeult on the part o[ the :1lortgagor hereunder, the :1lortgngor agrees to pay to the vlort~agee on demand as e reasonable monthlv ~ rental for the premises an amount at leest equivalent to one-Lwelfth (S~:) of the aggregste of the twelre monthlv ~ installments payable in the then current ~ ear plus the actusl amount ot the annusl tn.res, assessments, water rates~ and insurance pmmiums for such year not covered by the aforesaid monthly psymenta. ~ I1. ~In the event of any breach of this mortgage or default on the part of the :Vlortgagor, or in the event that any ot said sums of money herein referred to be not promptly and fully paid according to the tenor hereof, ~ or in the event thet esch and every the stipulstions~ agreements~ conditions, and covenants of said note end this mortgage, are not duly, promptly, and fully performed or if the ~iortgagor be sdjudicated bankrupt or ~ msde defendant in a bankruptcy or receivershi~ proceedings; then in either or any such event~ the said aggre- ~ gate sum mentioned in said note then remeining unpaid, with interest accrued to that time, end ell money secured hereby, shall become due dnd payable forthv~nth, or thereafter, at the option of said 111ortgagee, es ~ fully and completely es it al! the said sums of money were originnlly stipulated to be paid on such dsy, en~- thing ~n said note or m this mortpage to the contrarx notwithstanding; and thereupon or thereefter,.at the option ~ of sa~d 11Sortgs~;ee~ without notice or demnnd, suit st lsw or in eqmty~ mav be prosecuted es ~f all mone~s ~ secured hereby hnd matured prior to its institution. The A'Iortgegee may foreclose this mortgnge, as to tf?e ~ amount so declared due end payable, and the said premisea ahall be sold to satisEy snd pay the same together with costa expenses, and allowances. In cese of psrtial foreclosure ot this mortgage, the mortgaged premises _ shall be so~d subject to the continuing lien of this mortga~e f~r the smount ot the debt not then due nnd ~inpaid. ~ In such case the provisiona of this paragraph may agaui be svailed of thereafter trom time to time by the - Mortgagee. ~ 12. No wsiver of any covenant herein or of the obligation secured hereUy shall st eny time therca[~er be held to be a waiver of the terms hereof or of tbe note secured hereby. = 13. The lien of this instrument shall remain in full force and efiect during ~?ny postponement or extension of the time of payment of the indebtedness or any part thereof secured hereby. F~= 14. This mort,~age is given to secure the purchase money~ or a part thereof~ of the lands herein described ~ aad is executed and delivered contemporsneously with the deed therefor. 15. If the Mortgagor defsult in any of the covenanta or agreements contained herein, or in said note, then tLe Mortga~ee msy pertorm the seme, and sll expenditures (including reasonable Rttorney's fees) made by the Mortgsgee in so dou? shall drsw interest nt the rate provided for in the principel indebteciness, iu?d sl~nll be repay sble thirty (30) sys after demand, and, together with interest and costs accrued thereon, shall be secured by tWa raortgage. 16. Upon the request of the Mortgagee the Mortgsgor shall execute and deliver s supplementa?1 note or notea for the sum or sums advanced by ehe biortgagee tor the alteration~ moderniaation, improvement; mein- tenance~ or repeir ot said premises, for texes or assessments against the same and for sny other purpose author- ''ti ized hereuader. Said note or notes shall be secured hereby on s parity with snd as fully ss ~t the sJvance evidenoed thereby ~vere included in the p~ eacribed s ve. Said supplemental note or aot,es shall bear BOOK PAGE . ~ - . ~ . - - ` ~ ~ . . - ~ ~ - - ~ . . f.__ ~