HomeMy WebLinkAbout1596 f, ~
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the deficieac . Suchpe~y ment ~hal1 e Mrit ip.~y (30) d~ys atter written ~ouce 6+om t,he ~io~tguges ~
h
sta?ting-the sinourt~ o( tha deficienc~~h not m~ be,&iven by mail. lt ~t ~ny t.ime the Morkagor
sha~l tender to the Mort{~ee in accordance wit,h ths prov~ons oi the note secured heroby. tuU p~ymea~ ~
ot the entirs indebtednee~ repre~e~ted tho~eby, the Mo~tg~gee iu trustee shi?11~ in oomputing the amoua~ ot ~
sucb indebtednee~, credit to the i?ccount ot the Mo~tgagor any aedit balance reaar?ining under the pcoviaoas
ot ot ssid ph 2. It there ahi?ll bs ~ detault uader an~ ot the pn?visioas of t~his moctgage rewitinB
in • puWio o ~he preniises oovered hereby~ or ii ~6e Mortg~ges ~?uqwres the propeKy otherwise ~tt~
detault~ the Mottgages ~s trust~e shaU app~ the t~ima ot t~e oOmmencement oi such prooeedings o~ st ~
th~ time t.he propert~~ is othe~wviee soquired; the ~moun~ thea remaining to credit of Moct;agor uAder (a) of ~
para~nph Z preoeduig as • cradit oa tbe interee~ aocu~l and unpsid u~d the bal~nce to the principat then ~
rem~untng napaid oa s~wi noLa. ~
4. He wW pN a1l ta~oe~ are~senti. wai~r r~, a~d oi6ee~o~~en
ta~l oe an~o~oiPd oh~r~. Sne~ os
impo~itba~„ fae wbiab pe~o~dba L~s no0 beea m~de LeeetobeEoe~s. and in det~?ut~ thereot t~h~s Mat~~es my? Py t~6s
sams; ~nd ~ Ls wiU pe~ompf~ deHvee t6e o~oial reoeipta tLee~e[o~ to tLe Mo~t~~es. ~
~ He wiU peemit~ ao~nmif, ae w~a~ no w~ impaieme~ ae det~erioe~tian ot ~aid pe~opeet~ ae t6ee~eot ~
emoept re~oosbis we~t ~nd t~r• and ia tbs a~ent ct ths G~ of tLs D[~e~or to l~eep tlr bui~ oa ~ ~
peami~e~ a~d Rb~i~ to bs ereot~e~ ao ~id premi~er, a~ lnapi+o~remeah tLe~eoa, ~n-~ood repair ths Mortp~es m~y ;
maloe.uoh repair. as ig its ~ tt m*y deqm_neoe~e~ry sor ths~p~ope~ p~e.es~?:t3oa teee~eo~. wa !he tua amouao
~ Ikn at t6i~ iMQ b~ dns ~d pqabk thief,y (~o) d~ att~ee demand~ aad ~haU bs ~eau~d b~
~s m~ocy~e.
d. He wi~ pyr all aad ein~ular tbe ao~~, ' a~d ea~p~e~, i~ re~waable b?wy~ee'~ fees~ and ood~
cf ab~raoh ot iitis, ina~ered c~ p~i~d at sn~ t~ns
~~o:t~'es beause ot the failure on the psrt ot ths M
proo~p~jr and iW~? to pe~tonn tis ~enh iw~d oo~ants of eaid promieeory note and fhis mos~e
ao~ta, ch~r~es, :nd eacpedes ~hall be : due and p~ysbM a~d s6~11 bs seaured by t6e liea of tbis mort~e.
sw,
T. He w~ ooatinnon~ main~ ~
n~~nranos, oi sw~ ~ps or w~o~es aW
t~+om time to time requi~+s, on f~h0 imp~ovement~ now ar here~t~on ' ~aad e~coept when pyment
tor aII such premiums La~ ~fq~or been msde undar ~(a) of pangnFh 8 Lereoi Le will p~y promp~y wheo
due aq~ gramiums tberefor~~~l1~ 'msi~*I~Roe sbaU.bs carried in oomP~~ ~PPro~e~' b~ I?iartg~ges and tbe pol~
cies and ~awab t~reo~t ~aII bs beld b~ Mortgages and hs~e attacbed tLereto loss payable
cGuses in i~~ar oi
•nd in form aooept,sbls to We M In e~r~en` oi loes hs will give immediste notaoe by mail to Mortg~g~es~
~sg~~s~~~ p~ot~~~ o~ it no~ mads ~o~pt~ b~ M~tg~~o:;. and e~Y iawr~aos ounnpa~
oonoesned~~~is herab aut~lwriaed ~nd directed to mal~s p~yment for such bos d-u+ec~y to M uist~d ot
tp Mortgr.~or and ~ortgages' ' t~, aad t~+e insurauos pmoeeds, or an~ p~ t~+eof mU ~e
a~'by I11or~
~ages at its option eitber to ~reductioa oi the indebt~nees hereby seau+ed or to f~e restor~4oa or rspair ot
fiLs propert~ dam~ed. In eveat of foreclosure oi this mo or ot6er traasfer oi title tio tbe mortgaged
L
p~+o~t~ in ~tingu~sLmenti oi the iadebtednees secursd Lee+ebj, righ~, title. and interesti oi tbe Mortgs~or
in and ~o aq1 insuraaos policies~ tbsn ia ~ioros sLaII pass to tLs purch~ser or graat~ee.
8. He will not execute or file of rtoord sa~ inatniment which impoees a restricLkon upon the sale or oocw
pancy of the Pl"oPert~Y described hereia oa t~he basis ot r~roe. oolae, or creed. '
9. If the premises, or any part thereof, be oondemned under t~he, power of eminent domsin, or acquired
for s ublic use, t.he dsmsges awarded, the roceeds for the~~ of, or the oonsiderataon for such aoquiai-
tion, o the extent of the tull amount of the
~msining unpsid indeb~edn~eee eecured bY this mortgsge, are
hereby a~igned w tbs Mortgagee, snd his
heira or asaigns, snd' ehsll be paid forthwith to said I4I -
or hia ee to be ~pplied on ~ooount of tha Lst msturing inatillonenta oi auch indebtne~• pr~vided~ o~-
ever. th~ortgagLe or his s~ignee, m~y ~?t hia diacretion psy direct to tLe Mortgagor, bis ~eirs or assigne
any part or ell of such swi?rd; pmvided~ thsti ii the loan is gwranteed or insured, the ooaeen6 of the guaran-
tor or wsurer is obtained in advance of saidp symeat. ~
10. Tha Mortgagee msy, st aap time ~en
~ding s suit upon tms mortgag~e apply to the conrt hsvin([ j~~riaciic-
tion th~eof for tLe appointmeat ot s reoeiver, aa~ such coust sball fori6wit~ aQpoints reoeivu ot the premises
c o
v
e
r
e
d h
e
n
b
y a
l
l ind s
i
n g u
l~ r. incl
u
d i
n~ all aad s
i
n g
~
il a
r t,de inoome, profita, resues, and ra~enues from vr6st-
ever sout+oe denved~ ~sch and eve~y ot which it~~ e~ c
p
r
e s s
ly nn
dera
t
o o d~ is b
e e~
e
by mo
r t
g a
g
e d as i
f spec i
6
c a
qv
e e t f
o
r t
6 a
n
d d
e
s
i
x i
b e d i n t
h
e gi~
a
u t
i
n g a
n~ habea~um elauses bereof. Such a
p
p ointment a6aU be made b
p
s u
c
h c
o u
rt a a a
n a
d m itted e quit
y ~ad matter of absolute ri g
h~ to ssid Mortgagee; and without referenoa to
' the adequscy or inadequacy of the value of t6e pmperty mo
r t g
a
g
e d or to t
h
e so
lveacy or inso
l~ency o
f sai
d
i M tgsg~ or the defendants. Such rents profits, inoome, issues~ and nvenues s6all be applied by such receiver
aooo~~r~ing
to Lhe lien oi this mortgage an~ the prsatice oi auc6 ouurt. In the event oi any default on the part
ot the Mortgagor hereunder, tbe Mortgagor a~rees to pay to the Mo agee on demaad as a reasonable monthtv
reatal for fLe pnma~s an amount at least eqw~aleat to one-twelfth (~i) of the aggregate ot tbe twelve mont~lilv
installmwte payable ia the thea curreat year plus tLe ~ actwl amoun~ of the ~nnuai ~axes, aeeeesmenta~ ~?a~er
ntss, ~nd insuranoe pnmiums for such year not ooveaed by the doresaid monthly paymeats.
l l. In the event of aay breach of this mortgage or default on tLe part of the Mertgagor, or in tLe eveat
that aay oi s~id sums oi money,henin referred to be not pron?PtlY and tuUy paid a~oording to tbe tenor Lereof
or in t,he avent tLat each aad every tbe stip
ulations, agsee~nen~,,s, aondisic,os, and eovenmta of said note an~
t6is mortgage, ~e+e no! duly. P:'ompdy, and i~illy pertormed a~ ~f the Mortga$or be adjudicated bankrupt ot
made defendant in a baukruptcy or receiverahip proceedin~e; th~a.~n eith8r.or any sucL event, the s~id aggce-
gate sum me¢tioned ie said note t~henr~a~n~n~ nnpud; with in ~xue~ to thst time, and all money
secured #?ereby s~fait~beebtiae dua and psyable forttiwntly or f]~s~~, at the optio~ oi said 1liortgagee, as
iully aad oomp~et~ely as if all tLe aaid sums of money were originsllp stip~ted to be paid on such day, u?r-
thing m said note or m t6is mort~age to the contrar~ notwithstanding; md ~reupon or tlue~eatter .s~ the option
oi said Mo , witlwut not~ee or denn~ad, sw~ at lawr or in eqaitj, m~y be pro~ecuted as ~f alt moneva
aecured hereby lud matured prior to its inatitution. The Mortgsgee may foreclose ~S mortgag~e, as to tbe
amount so declared due aad p~?yable, ao~~ tbe said presnisea ahaU~be wid to astisfy and pay tbe same together
witL oosta espenses, and ~1~orvances. Ia c~ee ot partial loreclosura oi tLis mortgage, the mort~ premises
aLa116e so~d subjcet ~o t]u euntinuing lien oi t~s mortga~e for the amoun~i the deb~ not then ~i~e
u?d unp~d.
In such case t~e pro~~s a~ ~ P~Ph msy agau~ be ava~d ot th~naf ter fi+om time to time by the
~ Mo
lrtgag~ee. oi an~ oovenant henin or of tLe obligation secured henby ahall st any time there~tter be
held to be s waiver oi the t~ms Lereof or of tbe not~e secured hereby.
13. Tbe lien oi tLis instrumeat ahall remain in full force uad egect during aay postponement oc extension
at tLe tinu of psymeat of the indebtedneer or sny part thereoi. secured heraby.
14. This mort~~ge, is givea to secure the purchase money, or s part thereoi, of the laads herein deacribed _
aad is ezecuted and delivesad oontemporaaeousiy with the deed thenfor.
15. Ii the Mortgagor default ia any oi t,he oorenaata or agreeaneats oontained h~+eia, or in said note, then
tbe Mortga~ee may pertorm the same, aad all espenditures (m'cluding reasonable attoraey's fees) made by the
bi ~a so d shall dra~r iatereat at the rate provided for m tbe priacipal indebtedness, and ahaU be
Lll
ther with intesest aad oosts aocrued tbereon, rLall be secured
~P~ , ~Y ys dter demaad~ aad, to6'e
b,
~ 18. Upo~ tbs reqvest oi tirs M~~g~e tbe Moctgagor dull esecuts and ddi~er a supplemeat~l aote or
note~ fa~ tLe sum or sums advaaoed
lb~y t6e Mortgag~ee for tLe altaratioa, improvement, main-
t,~nanoe, or rep~ir oi ~aid pnmises, for tases or arasments ag:insti the same aad for m~ ot6er purpose autlwr-
ised hereunder. 3aid note or notes ~LaU be secw+ed henby on s p~an~t~r ~rith aad as fully as d the adv~nce
e~idenoed thenby wee+s iaduded in tbs note 6nL dacribed abo~eo. RSaid ~uppkment,~l nots or aot~es ~hall bear
ao~185 ~i5g?
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