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Home My WebLink About2708 ' . ~ ~ ot the M~rt~e~ee become immedtately due and psyable. without noUce, and proceedin~s may be 1nsUtuted Dy the ldort- ~ee for the recovery thereot by foreclasure ot this biortQaQe~ or in any other manner permitted by law as the Mort- ~aag~ee asay eleM~ aq~rthla~ in the note or in thls Mort~e oontalned to We oontrary thereto notwlWstandtn~. Upon fore- closun of this Mort~s~e. the Mort~a~ee shall be Wowed as a part of the indebtedness secnred hereby~ and the Mort- Qegor agreea to pay. W cas4 ~ad eupen~es incurred 1n Mnnectlon therewlth. including reaaonable attorney'a feea. cost ot UUe and tax aearch ~ifid the e:tendoa to date ot aa abstraM ot tttle or tltle pollcy; and in case auch foreclosure proc~eed- i tngs ue settled before the consuaunaUoa thereoi or the entry of iudgment, any wch costs and expen~a atfd oWer ~ c!?ar~es ~0 1acu~red~ includin~ s re~soaable attoraey'~ fee~ shall nevertheleas be paid. The Mo~aYee or aqy party in in- terest, bein~ the hiYhest bidder. may be a purchaser ~t any foreclosure ssle. Any election by the MortQa~ee u hareln pro- vided for may be exerclaed immedlately upon defaulk or at ~ny tlme thereaiter. and notl~ing shall be consteved to be s wdver ot sucl? rlght unless evidenced by an instrument in wdttng to that ettect duly executed by the Mortgagee. The Mortgagor wdves W ri~ht ot homestea~d aad exempUon ~ranted by the ConsUtution and Lsws oi Flodds. AND THE MORTGAGOB FURTKER CONVENANiS AND AGREES: { ' 1. To pay the pr[ndpal indebtedness wlth interest as 1n the note provlded. To pqy monWy unto the Mortgagee. + in addiUon to and at the Wne and place for esch paymeat of prindpal and interest. an installment of each of the follow- ~8 (s) Taxea and asaess~nents. 8eneral or apectal, and all other charges levicd or to be levied against the premties (b) Premiums to become due and payable for. and to renew. the insurance on the preralses against loas by 8re and such other haraidt, casualties and contin~endes as heretn pmvided for or reqWred irom tlme to Wne. The amount of the reapective monthly installments shall be equel to the amouat of the annual respectlve charge next due (as estimated by the Mortga~ee). leas sll lnstallm~b already paid therefor. divided by the nuraber oi monthly ln- stallments theretor becomtn~ dua not Lter than one moath prlor to the due date ot any such ebarge and shall be sub- ~ect to increase or decrease to the extent required to create aa o1 a monthly psymeat date on the note notless than one monW pr[or to the due date oi any such char8e. an amount sufficient for the pqyment Nernot when due and A,syable. . In no event shall the Mortgagee receivtng such pqyment be liable for any interest on any amount patd to 1t as Aerein requ[red. and ti~e money s~ reoelved msy be held with its own funds pending payment or appUcaUon thenwf as herein provided. The Mortgagor shall furnlsh unto the Mortgagee at leaat nfteen days before the due dste an oSicW statement of the amount of any taxes or asseasnents next due. and such Mort~agee shW pa~y the above charges to the amount ot the then unused cn~dit tberefor ss and when they beoome severally due and payable. The Mortgagee mqy. at 1ts option. pqy any oi such chargea when psYable. either before or atter they are delinquen~ without notke. or make advances thereior in exceas oi the then amount oi credit for ssW chargei. The exoas amount advanoed ahall be immediately due and paysble to the Mortgpgee and shall be aecured aa an edditlonal prtndpal sum under this lnstrument and bear the same rate oi interest irom date of advancement as the prlndpal iadebtedness. An official rei.~elpt therefor shall be conclusive evldence of such psyment and of the val[dity oi such charges. The Mortgagee may apply credits held by it for the above charges. or aay part thereof. on' aceount of any dellnquent installments oi prindpal or lntereat or snq other payments maturing or due under thls instrnment and the amount of credit existing at any time ahall be reduced by the amount t!?ereoi patd or applled as herein provided. The amount of the existing credtt herEUnder at We time oi at~q transier of the property shall without assignmeat thereoi inure to the bene8t oi the succeasor owner ot the property aad shall be applted under and subfect to all oi tRe provlstons hereof. Upoa the payment in full ot the indebtedneas, the amount of any nnased credit shall be appl~ed to the papment thereoL The Mortgagee may collect a'9ate charge" not to exceed'four cents (4~) for each one dollar (:1.00) ot each monthiy installment payment requlred on the note and under thts Mortgage which ls more than 8tteen (15) daya 1n arrears, to cover the extra expense lnvolved in handling del[nquent psyments. 2. To pay. when payable. all taxes and ass~ments, general or special, water rents end ground rents and all other chargea whataoever levled upon or asmeased or placed a8ainst the premlaes. provision for which has not been made here- inbefore. and will promptly detiver the of[icial receipts therefor to the ~iortgagee; to likewise pay all taxes. assessments and other charges. levled upon or assessed. placed or made agalnat this instivri~ent~ or the indebtedness or any interest of the Martgagee fn the premlaes or the obllgaUons secured hereby, provided that the payment oi any such tau aasess- raent or charge by the Mortgagor is not contrary to law or would not ~sult in tAe psyment of an unlawful rate oi inter- ' est on the Sndebtedaess hereby secured. In the event oi the passage atter the date oi Uils instnunent of any law of the f State. or subdiviston thereof. wherein the premises are situated, creating or providing for any tax, asee.s~nent or charge which Dy the above pmviso 1s not to be paid by the Mortgagor, the indebtedness secured hereby together with interest due j thereon. shall, at the opUon oi the Mortgagee. bec.~ome immediately due and payable~ and in the event payment there- o! is not made forthwith, the Mortgagee may take or cause to be tsken such action or proceeding as may be taken here- under in the cate of any other default in the payment of the indebtedness. 3. To keep the bulldinga and additions thereto on or hereatter erected or placed upon the land insured against lo6s ~ by flre and such other hazards, casualties and conUngeACiea, induding war damages if at any time a state oi war exists or ~ It appears to the holder of the note that war ia imminent~ and in such amounts and for such periods, eis may be requlred ~ imm time to time by the Mortgagee, and to pay prompUy when due all premiums on such insurance. pmvision for pay- ~ ment oi whfch has not been made hereinbefore. The policies oi inaurance shall have loas pqyable provlstons acceptable to the Mortgagee and shall be deHvered to and held by the Mortgagee. or aa it ma,y direct, until tl~is Mortgage ia satja8ed. Renewal policies oi insurance. premiums for which have been fully paid, are to be furnished to the Mortgagee at least ~ Sfteen days prior to the expiration date oi the in~r~ce thereby renewed. The f~rance d~all be wrltten in compaNes approved by the Mortgagee; in no event shall the Mortgagee be held responsible for failure to pa,y for enq insurance written or for any loss or damage growing out oi a defect in any poHcy or growing out of any falIure of an,q insurance ~ company to pay for any loss or damage insured agains~ In the event oL las the Mortgagor ahall gtve immediate notlce by mail to the Mortgagee who may make prooi oi loss if not made prompUy by the Mortgagor; each insurance company ~ ooncerned is, hereby suthorized and directed to make pay~ent for lo~s directlq to the Mortgagee instead oi to the Mort- gagor and the Mortgagee ioiaUy; the Insurance proceeds, or any part theceoi. may be applied by the Mortgagee, at its ( option. to the expenaea, it any, incurred by it in the collection thereof, to the reduction of the indebtedaess hereby ae- ~ cured, to the restoration or repair of the property damaged, or released to ihe Mortgagor without llabilitq upon the Mort- gagee for such release. All polides of insurence are hereby ~ssigned to th~ Mortgagee aa additional secudty for tLe pay- ~ ment oi the sums and interest secured hereby; in the event ot foreclosure oi this Mortgage ar other transier of tltl~ to the ~ premiaa in extingutahment of the indebtedness. all rlght, tltle and interesi of the Mortgagor in and to anq inwrance ~ polides then in force shall pass to We purchaser or grantee. 4. To complete within a reasonable tlme aay building or buildings now or at anq time ln the process of erection upon ~ We laiM and to prompUy repair, restore or rebulld any building or improvements now or hereafter on the land which ~ ma,y become damaged or be deatroqed, and not ooaudt or permit to be done or exid on or aba~t the preml:es enything y abw ~ wherebq the premises ahall become less valuable; W comply wlth all laws. rules. regulattons, or ordinances oi any govern- t j mentsl agencq twd not violate or permit the violaUon as to the premfaes oi any buflding or use restrictiom; to keep the + - land and improvements thereon free irom mechanfc's and materislmen's llena and wlll not suffer any llen superior to the ~ lien created by thls instrument to attach to or be enforced against the premiaes. ~ K 5. Ii deteutt be made in the payment oi taxes, as~nents, llens, claims, Insurance premiums or any other charge ~ ~ wdatsoever. or any part thereof. or 1n the peKormancx of any act~ to be patd or pertormed by the Mort~agor under the pravl.dons hereoi. the Mortgagee maq. at its option, make p~yment thereoi or periorm any act reqWred M tt~e Mortgagor in any form or manner deemed expedient snd pqy any ather sum Lhat is necessary to protect the secudty oi thfa lnstru- ment; the amounb ao patd, wlth interest thereon irom tt~ date of such payment at the sauie nte u borne by the prln- clpai ir?debtednear, shW be asseased as an additional Hen on the premises and ahall be added to aad become a pert of the lndebtedneas secured hereby and be immedtately due and payable to the Mortgagee. My payment hereby authori~ed to be R made by the Mortga~ee may be made according to aqy bW, statement or estimate f~trnbbed or pmcured irom t6e appro- psfate public oIDce or the party cWming payment wlthout f~uiry into the accuracy or vWdlty tl~ereo~ and the receipt oi T:~ a~? public offioer or partq tn the hands of t!~ Mortgagee shW be ooncluslve eWdence oi the valtdtq? aad amount oi itea~ : ~o Patd: the MortQagee sba11, at its optloq be subrogated to any encumDrance. Uen. clsim ae demaad, and to ail the r1~1?b aM ~ecudUea for the psyment thereo~ paid or di~hnrged with the principal snm ~ecured hereby or by the M~ee _ under tlfe prnvWom hereot. and say such subr~?tloa riQhta st?all be addiUon~l and aunuLtlve iecurit~ to tWs Mort- ~ ~e. ~ ~ ~~~~~2 P~~~~~~ ~~z7 ~ _ 5 ~ t - ~ • N• ~.W~~'-'~:'v m.+.~.,. .>...s.e.. ~i ~ _ _ ~~C~"w