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Home My WebLink About2544 E _ -...j_t ~ -,_i ~ _ - _ . . . . * ; , ~ f i - , ~ , - 3. To plac~ and continuarsly keep on the b~ildings now w l+ereafter situat~ on said Iand and on all equipment ~nd penonally covered by this mwtg- sge, with all premiums thereon paid in full, fire insur~nce in ~he usual standard policy iorm, in a sum approved by the MORTGAGEE, and windstorm ~nsur~nce in the uswl standard policy fam, in a sum spproved by ~he MORTGAGEE, in such company or tompsnies ss the MORTGAGEE may d~rect; and all fire and w~ndstorm iiuurance policies on any of said buildings, ~nY interest therein or part tlxreof, in the aggregate sum afwesaid w in excep thereof, shsll contain the uswl stand~rd mortgsgee tlause w such other dause as the Mortyagee may requiro, making tM loss under said po1F ciea, each ~e+d every, payabte ro said MORTGAGEE as its interest may appear, sru! each and every svcb policy ~hatl be promptly ass:gned and delive?ed to any held by said MORiGAGEE as further security to said mortg~ge dcbt, and, not less than ten (10) days in advance of the expirat~on'of each poticy,.to dr liver to said MORTGAGEE a renewal thereof, together w~th a receipt fw the premium pf such renewal; and thert shall be no fire or windstorm insurance ' placed on any of said bvildings, ~ny interest therein or part thereof, unless in the form and with the loss payable as afaeuid; and in the event any sum i of n,oney becorr,es payable ~nds? such policy or policies said MORTGAGEE shall have the opt~on to receive and apply the same on account of ti~e indebted- ness mwed hereby w ro permit said MORTGAGORS fo receive and use if p any part ihereof fo~ othcr purpases, v.~tho~t fh=~cb~ waivi:~g or ~mpair- ing any equity, lian w right u~der or by virtue of this matgage; and in !he event w~d MORTGAGORS shall fo? a~y reason fail to keep the said premises so ~ns~red, w(ail ro deliver promptly any of Satl~ POIiCi2t of insurance to ssid MORTGAGEE, or fail promptly to pay tuily any pre~ni~m therefw or in any respect fail to perform, dixharge, execute, effect, complete, compEy.with and ab~de by tfiis covenant,- p sny part hereof, said MORTGAGEE may place and pay fw suth insurance ot any part thereof without waiving w affectirg any option, lien, equity, w right u~dr or by virtue of this Mortgage, and the ! fufl amount of each and every such payiwent ahall be immediately dua and psyable ~nd shall bear interest fr«n the date thereo( until pa~d at the rate ot j n~ne per centum per annum and to~ether with such interest shall bc sec~red by the leen of this mortgage. 1. To permit, oommif or suffef no waste, impairment a deterioratio~ of said property or any part thereof_ 5. To pay all snd singulir the cosb, charyes and expenses, including a reasonable attorney's fee and costs of abstracts of title, incurred or paid- at any Yune by said MpQiGAG:E, becaux or in the event of the failure on thr part of the said MORTGAGJR to duly, promptly and f~lly perfwm, diuF~arge, ~xecute, effc0, complete, cdmply w~th and ab:de by each and every ~he stipulat~ons, agreeme~ts, cond~fions, and mvenanrs of said promissory note and this mortgage any or either, and said tosts, charges and expenses, each and every, shall be immediately due and payabte; whether or not there be notice de mand, attempt fo collect or suit pending; and the full amount of sach and every such paymem shali bear interes~ from the date thereof until paid at the r~te of nine per centum per annum; and all said msts, cMrges and expenses inc~rred or paid, together w~th such irtterest, snall be secured by the lien of this mwtgsye. . 6. That (a) in the event of any bresch of this Mwtgage w default on the part of the MORTGAGOR, or (b) in the event any of sa:d sums of money herein referrrd to be not promptly and fully paid within thirty (3p1 days next after the same severatly beco~~e due and payable, without demand ar notice, or (c) in the event each snd every the stipulatipn, agreements, cond~tions and covenants of sa,d praniuory note and th~s mortgage any w either are not . iuly, promptly and fully perfamed, discharged, executed, effected, completed, complied with and abided yy, then in e~ther a a~y such event the said ag 9regate sum mentioned in said promissory note then remaining unpa~d, with interest acuued, and all moneys secured hereby, shall become due and pay- abie forthwith, or 1Fxreafter, at the option of said MORTGAGEE, as fully and completely as if all of the said sums of money were orginally st~putated ~ to be pa~d on such day, anything i~ said promiuory note or in this Mortgage to the tontrary notwithstanding; and ~herevpon w th~;reafter a~ the option of sa~d MORTGAGEE, without notice w demand, suit at law or in equity, thereFwe or thereaiter begun, may be prosecuted as if all moneys secured F?ereby nad matured pnor to its institution. 7. That in the evenr ihat ar the begi~ning of or st any time pending any suit upon thls Mortgage, o~ to foreclose it, oa to reform it, or to enforce FaY~~~ of any claims he~eunder, said MORTGAGEf shsll apply to the Court having junsdiction the~eof for the apaointmeM of a Receiver, such Court shall Forfhwirh sppoint a receiver of uid mortgaged prooeny all and singula?, includ~ng all and a~ngular. the I~1COrM, prof~ts, issues and revenues from whatever - so~rce derived, each and every of wh:ch, it being expressly understood, is hereby morlgaged as if spec~fically set fath and dewibed in the granting and habendum clsuses hereof, and such Receiver shall have •II the broad and effective funct~ons and powers in anywise entrusted by s Cou.t to a Receiver, a~d ~::ch appointment shall be made by svch Court as sn admitted equity and a matter of absolute right to uid MORTGAGEE, and without reference to the adequacy or inadequacy of the value of the property mortgaged o+ ro t1+e solvency w insolvency of said MORiGAGOR w the detenda~ts, and that such ra~n, profits, income, iuues and revenues sMll be apptied by such Receiver according to the lien or eq~ity of said MORTGAGEE and the practice of sucb Court. . 8. To duly, promptl and full orm, dixhs? : ~ Y y P~ ge, execute, effec:, complete, comply with snd abide by each and every the stipulations, agreeme~ts, conditaru and covensnu in sa~d promiuory ~ote arx! this mortgage iet fwth. _ ~ 4. ihst in the event the ownership of the mortgaged premises, o~ any part thereof, becomd vested in a pcrwn other thsn the MORTGAGOR, the ! :',ORTGAGEE, in successors and auigns, may, witFqut notice to the MQRTGAOR, deal with such succeuor w successw in interest with reference to thia ; rrortga~e and the debt Aereby setured i~ the same manner as with Mortgsgw without in any way vitiati~g a dixharging the MLongagors' liability hcro- i ~~der w upon the debt hereby secured. No sate of the premixs Ixreby mortgaged and no forbearance on ~he part o( the MORiGAGiE,-pr its successon or a:s~gns snd no exrens~on of the time fw the payment of the debt hereby secu.ed y~ven by the MORTGAGE~ or its success«s or asfiytis, .hall operat~ ro release, d~scharge, rtadify thange a aifecf the wi9inal liab~lity of the MORTGAGOR htrein, either in whole w in part. ~~1uNNi~{~ 10. It is spec~lically agreed tMt time is of the esxnce~ of this contrsd and thst no waiver of any obl~gauon hereu~der: or`~~~ ~Mp{~ ~ cvred haieby sMtl ~t any time fhereaher be held to be ~ waiver of the terms hcrcof w of the instrume~t secured harby. Q~ M( ~ i~~~ - 11. In addnio~ to the faego:ng monthly payments of princ'pal and interest required by the promissory note secured -kr~• spr•~pve~iV~, ' and agrees to pay to mo:tgagee w~th each monthly payrnent an addrtional sum esumated by mortgagee to be eq~al to 1/ 12 of`Mi~Jue~f oi ` f~1o'r~ ~ ~ ~Q ~ f ~ A-All real propeny laxes kvied o~ assessed agai~st the above described reai esta~e. _~~Q ~j ~ • ~ : B-Premiums on fi!e and windstorm insurance as herein r e qu~red to be carri e d o n t h e impr ov em e ~ t s s~ tua te on t h e s b o ve ~~i " v; i~ C-Prcmivms on such mut9age 9wranty irtwronte as mprtgagee shall {~om tirtse to time deem fA to carry on the loa~,~ ~1-~C~: .ti ~ Mwtgagee shall 4rom time to time notify mortgagor in writiny of the amount due and payabk hereunde? and such sum ah~ ~ ' i~ ~fpd rayaWe on the due date of rhe neat monthly payment and each successive month thereaf~er urtil mortgagee shall not~fy mort~l~d!P{ _ ,~q~iv~N~ ~ e~:aunt. S~ch sums shail be applied by mortyagee toward the payment of real property taxes, insurance prem:ums, ~nd mutyaye~~qy~r fl~y~hce or.miumf. • !•.'rtr„•"•• IN WITNf55 WHEREOf, rhe said MORTGAGOR has hereunto set his hand and seal tix'day and year fint aforesaid. sqned, .~d •~ed ~n tt~e p?~s«+ce of: BBTH~. BAPTIS? OF P+ORT P 8~ 1?LARZQA ~ INC. ' - .YJ i - ?s t ~ - ` ?su t ~ _ _ i89 xs36 - . wt ~ ~ . _ ~ ~i M L?A~~R1~, . . : . . . _ . . ~ x . ~ _ . - _ 'a~.; c:: ~k ~ . . .~c3~«s >r ~a2 ~ ; ` ~x~~