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Home My WebLink About0903 ~ ' ~ . . ~t tl~e deficiency. tiuch pe~3~ment sl~all be msde within thirl.y'(3~) days ~tfccr writ,ton notice tm~n the ~iortgaRee .stating the amount ot tFie deficiency, which notice way be ~iven by mail. If at e?ny time the ~lortgaRor sl~a~l tender to the ~1ort~;nKce in acconlauce with the prov~s~ona of the note secured hereby, full payment o[~ the entire indgbteclness represented thcreby, the \to~t~af;ee us trustee ahall, in computing che emount of such indebtc~ciness, credit to the account, of the \1ort~~or any credit balance reme?ining under the proviaiona ot (a) of said pe?ragraph 2. If there sl~nll be u default under any o[ the pro~ isiona of tt~is mort~a~?e resulting in a public se?le o( the premises coverecl hereby, or it the ~iortgagee acquires the property otherwise stter default~ the :4lortgagee as trustee ahall apply, et the time of the rnnunencement of ~uch proceerlinga or at the time the property ~a otherwise acquiced, the amount then remsining to credit oi `iort.gagor under (s) ot para~raph 2 precedu~g as a credit on the interest accured and unpaid and the balance to the principal then remuning unpaid on sai~i nate. 4.~ He will pay aD ta:ee, ~eeeeement~ wi?tet rate~ and ot6ee~o vernmental Qe muaicipal charg~ 5aes. or ~ impositione, for which proviaion haa not beea macie heninbefore, and in defaul~ there~ tha Mortas~ee auy p~y ths eame; and t6at he will prompt~y deliver the o~icial reoeipts therr,[or to tbe Mortgagee. b. He ~vill permit, oommit, or suffer no ~raste, impairmeat, or det~erioration of eaid propcrty erany part thereot aacoept reasonable weae and tear• and in the event ot the failure of the Mortgugor Lo keep t6e buildindt on said premises aad thoee to be erecte~ on eaid preaniees, or improvements thereon, in good repair the Mortgagee may make such repairs as ia its diseretion i! may deem neoeeeuy for the proper preeervation Lhereo~~ and t6e full amount ot esch and every suoh p~,yment sball b~ due and paysble thir~y (30) d~ys aiter dean~nd, and ~hall be secured by t~6e lien of tbis mort~e. 8. He will pay all and singular the oosts. ebargea, and espenses, including reaeonabk tawyer'a feea and oosts of abetn~cta of title, incurred. or paid at aay time by t6e Mortgsgee bec,suee of the failure on the part of the Mortga~or promptly and fully to pedorm the a~cements and ooveaanta ot esid promieeory note and thia mortgage, and aa'sd ooeta, charges, snd espe.aeee ahall be immediste~y dae a~ p~ysble ~ stiall be eecured by the lien of thia mortgaae. He will ooatinuous~y maintain hazard insurmoe, oi auch type or t pee and amounts ae Mortgagee ma > > from time to time require, on the improvementa now or hereafter on eai~premises and except when psyment tor all such premiums h~e theretofore beea mada und0~ ~(a) of paragra~h 2 hereof ~e will pay pmmptly wLen due any pr8miums fherefor. All inaurance ahall be~curried ia oompsnies spprove~ by 111ortgaqee snd ~tha poli- cies and renewala thereoi ahall b6 held by Mortgagee ~ad bsve att~ched thereto loes payable cfauses in fsvor oi aad in form aoceptsble to the Mo ~agee In eoent oi loea he will give immediste notice by mW to Mortgagee, and Mortgagee msy malca prooir`oi loee ii not made promptly by Mortga~g~or~ and each insuranoe oompany ooncerned ia hereby~tuthorize~i and directed to mske payment for auch loes directly to Mortgage~ wstead oi to Mortgsgor and Mortgagee 'ointly, and the inauranoe prooe~eds, or any part tLereof~ msy be applied by 1liort- ~agee st ita option either to ~e reducuon of the indebtedne~ hereby eecured or to the restorstion or repair oi the proper6y dsma~ed. In event oi foreclosure of this mortgage or other transfer of title to the mortgaged property in extingu~ahment of the indebtedneee secured hereby, a~l right, title, and int~ereet of the Mortgagor : m and to any inaurance policiee~ then in force ehall pass to the purahaser or grantee. ' 8. He will not e:ecute or file of record any instrvment which imposes a restriction upon the sale or occu- pancy of the pmperty described herein on the bsais of race, color, or creed. 9. If the premises, or any part thereof, be condemned under the power oi eminent domain, or acquire~ for a public use, the dsmages awarded, t.he proceeds for the takin of, or the consideration for such acquisi- - tion, to the extent of the full amount of the remaining unpaid ~ in~ebtedness secured by this mortgage, are hereby assigned W the Mortgagee, and hia heirs or .assigna, and shall be paid forthwith to said Mortgagee ~ or his assig n~ee to be applied on account of t6e IesE maturing installments of such indebtnesa; provided, hocr- I ever, Lhe Mortgag~e or his assignee, may at his discretion pay d'uect to the Mortgagor, his heirs or assigns i any part or all of such award; provided~ thet if the loan ia guaranteed or insured~ Lhe conaent of the guaran- tor or insurer ia obtained in advance of said payment. 10. The tilortgagee msy~ at anp time pendu»~ a suit upon ttus mortgage, apply to Ghe court havin~ jurisciic- tion thereoi for the sppOintment of a receiver, snd such court sball fortfiwnth ~~point s receiver of the premises ~ covered hereby sll and singulsr, inctudin~ all end singular the inoome, pmfita~ iasues, and revenues from ~~hat- ever source denved. each and every of w hich, it being expresaly understood ~ is hereby mortgag~ed as if specifically ~ set forth and descnbed in the granting and hsbendum clauses hereof. Such sppointment ahall be made by ~ such court as an admicted equity and a matter of absolute right to ssid :~lortgagee~ and without reference to the adequacy or inedequacy ot the value ot the property mortgaged or to the solvency or insol~ ency of said Mortgagor or the defendants. Such rents, profits, income, ~ssues, and revenues shnll be spplied by such receiver according W the lien oi this mortgage and the practice of such court. In the event of any default on the part o~ the ~lortgagor hereunder~ the :1lortgxgor a~,irees to pay to the :41ort~gagee on demand ss s ressonable monthlv ! rental for the premises an smount at least equ~valent to one-twelfth (3~=) of theaggregste of the twelve monthlv ~ inatallments payable in the then current year plus the actual amount oi the annual ta.~es, assesaments, water rstRS, and insurance premiums for such year not covered by the aforesaid monthly payments. 11. In the event of any breach of thia mortgag~e or default on the part of the Mortgagor, or in the event t6at any.oi said suma of money herein refen~ed to be not promp~ly and fuUy paid according to the tenor hereof, or in the event ~hat each and every the stipulationa, agreementa, conditiuna~ and covenants of said note snd - ~ thia mortgage~ sre not duly, promptly, end fully performed or if the ;~iortgagor be+ adj~~dicated bankrupt or made defendant in s bankruptcy or receivezship pro~eedinga; then in either or any such event, the said eggre wg w gate sum mentioned in said note. then remau~ unpaid, with int.erest accrued to thet time, and sA raoney secured hereby, shall become due and payable forthwith, or theresfter, at the option of said 111ortgagee, as } tully end completely as it all the said sums of money wer~ originally stipuleted to be paid on such day, ant - thing in said note or m thia mort~age to the contrar~ notwithstanding; and thereupon or theresfter, at the option ~ of said Mortgsgee, without noUce or demnnd, su:i at lsa ar in eqmLy, mev be pro3e.~cuted sa if all monevs secured hereby had matured prior to its institution. The Mortgegee may foreclose this mortgnge~ as to tf~e ~ amount so deelared due and payable~ and the asid premises shall be sold to satiafy and pay the same together - ~ with costs expenses~ and allowences. In case o~ partial foreclosure of this mortgage, the raortgaged pren~~ses shaU be so~d subject to the continuing lien of this raortga~e fur the smount of the debt not then due and unpeid. In such case the pmvisions of this paragraph may agun be availed of thereafter from time to time by the 2 Mortgagee. l2. No waiver of aay covenant herein or of the obligatioa secured hereby ahall at any time theme(ter be ' held to be s waiver of the terma hereof or of the note secured hereby. - 13. The lien of this instrument shail remsin in tull force and eRect during any postponement ar extensi~n - oi the time of payment oi the indebtedness or sny part thereof secured hereby. 14. This mortgage is given to secure the purchase money, or a part thereof, of the lands herein described - aad is ea~ecuted and delivered contemporaneously with the deed therefor. = 15. If the Mortgagor default in any of the covenenta or agreements contained herein, or in said note, then the Mortga~ee msy pertorm the seme, and all eapenditures (including reasonable attorney's fees) made by the _ Mortgagee m so domg shall draw interest at the rate provided for in the principal indebtedness, xnd shnll be _ repay a~ble thirty (30) days sfter demand, and, together with interest and costs accrued thereoa, shall be secured by this mortgage. ky:~ s~ 16. Upon the request of the Mortgagee the Mortgagor shall execute and deliver s supplemental note or notee for the aum or sums advanced by the Mortgagee for the alteration, modernization, improvement, main- tenance, or repsir oi asid premises, for taxes or aaeesaments against the same snd for sny other purpose suthor- ized hereunder. Said note or notes shsll be secured hereby on s psrity with and ss fully as ~i tl~e acfvance ; eoidenoed thereby were included in the note fint~described above. Said aupplemencal note or notes ahall bear : ~ ~ ~ - - 7 _ : e - _ _ _r__-