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Home My WebLink About2644 AND the soid Mo~tqoqo~ h~reby covenants ond aprees with the said Mortqo9e• as folbws: FIRST: Thot Me Mon9opor is lawfvlly seized of the above described premises in fee simple and hos 9ood ~ipht to sell and conver the some to the Mo~tqa9ee; ~hot the said premise: are free and disthar~ed of o~d f~an oll toxes, tax titles or ct~tiAcotes, judqments, methonit's liens a~d encumbrances of cnr nature o~ kind whotsoev~? ond thof the Mort~c~or wili f~lly warrant and defend 1he some to the Monqogee, oqoinst tfie lowful cioims and den+onds of oli perions whomsoever, ond will make such further assu~ances ro perfect fee simple title to said lond, in the Mo~tyc9ee. os may reosonable bs required, ond will poy the severol sums of money agreed in the said note to be paid ond all installm~nts of p~incipal ond interest therea? promptly when due, ond accordin9 ro the t?ve tenor ond sffect of the said note. SECOND: That the Mortpoqor will pcy oll and sinyulor the ta~es, ass~umenfs, levies, ond encumbrances of every nature o~ the obove describad property, and upon this martyaqe and note, o~ the moner sacvred Mereby, before delinquer+cy thereof ond receipts evidencinq payment of said toxes, ossessments, levies and encumbronces sholl be deposited wiM the Mort~a9ee on or before March lst of eoch succeedin9 year durin~ the tenn of this monqa9e; and if same be not promptlr poid when dve, the Mortgaqee moy Iwithout obli9ation to do so) par Me scme, o~ become purchaser of ony lawful evidence thereof, or certitkate therefor, without woivin9 or ofFectin~ ony ri9ht he~euoder and in lhis mo?tqaqs, or the said note wfiKh Mis mo~t~oqe secv~es; and such pcymenh or expenditures so nwde sholl bear inferest from the dote M?ereof ot the ?ate of eight per centum (8~) per annum. THIRD: That fhe Mort~oyor will keep all real ond pe?sawl propertp now or hereoher encvmbered by Ihe lien of this mortga~e inw~ed as may be ~equired f~om time to time by the Mort9agee aqai~t loss by Are, windstorm and other hozords, cawalties ond cootin~encias for wcfi periods ond for not less thon sucl~ onaunis as may be required by the Mo~tqa~ee ond to par promptl~r when dve cll premiunu for wth inwronce. The omounts of wch inswrante required by the Mo~t~agee o~e expressive of only fhe minimum amounh for which said insuronce shal) be written and it shall be incumbent upa+ the Mortgo~or to maintain wth additionol i~uurcnce os nwy be ~eceuory to meet ond canply fullr with all ao-insurance requiremenK contoined in said policies ro the end Mwt said Mort~a~or is not a co-inwror lhereunde~. I~aurance shall be written br o compc~y or companies approved br the Mortgayee and all polides and renewols thereof shall be held br the Mo~t9o~ee. All detailed desi9notions by the Mortqo~o~ which ore oaepted by 1he Mortqa~ee and all a~~eements betweeo Mo~fyaya~ and Mort~aqee relafin~ to inwrance, now existin~ or hereafte~ made, slwll• be in writin~ and slwll be o pa~f of Mis mort~aqe a~reement as fully os thouqh set forth verbatim herein and slwll govem both parties hereto and their waesson and assi~ns. No lien upon anr of said policies of irauronce w upa+ ony ~efund or return premium whicb may be perable on the cancellotion or termination theraof, shall be ~iven ro other than 1he Mort- ga~ee, except by proper endorsement aiF'ixed to wch policy and approved br Mortqa~ee. Ead~ policy of i~uuraoce sholl hove affixed thereto o Standtird Morf~ayee Gause oaeptable to the Mortqoqee, nwkinq ell loss or losses w~der wd~ policy payoble to the Mortpagee as its interest may oppear. In the event aoy wm or sums of money beaome parable thereunder the Mort~aqee sholl have the optio~ to receive ond apply tM same on aooouM of the indebtedness hereby sewred, or to permit the Mort~o~or to reccive and vse it, or any part fhereof, withouf therebr waivirp or impairinq any equity, lien or ripht u~der and by virtue of this mortgaye. In event of loss or physitol domage fo the nwrtpc9ed propert~r Ihe Mort~a~or shcll qive immedicte notite thereof by moil to the Mortya~ee ond the Mo~t9aqee may make proof of bss if the wme is not mode prompNy br the Mort~a~. In event of foredowre of this mortya9e or ofhe~ t~a~fer of title to the nart~a~ed properly in extinyuisiwnent of the indebted~eu secured herebr, oll ri~ht, title and inferest of the Mo~tqayor in and to ony inwronce polities then in force shall poss fo 1he purchaser or gramee. Upon a~ dsfouM thereof, the Moripa~ee mar (buf without obli9ation on its part so to do) Place i~urance on wch buildin~s and pay the premiwn and charqe wch wms so paid fo the Mort9ayo~ and wch wms of ma~ey so paid shall bea~ interest from the date of payment at fhe rofe of ei~ht per cenfum (8%) per annum. FOURTH: Thot all sums of ma~ey paid or covsed fo be paid br Ihe Mort~oqee under the terms of this mortya9e and herein spec;ficaUy provided for, ond indudirp anr expenses ina?rred br the Mortya~ee in collaction of fhe sum setured br this mortya~e, ' shall be oovered br the lien of MNS mort~aps, the sa~+~e os 1he sums of ma~ey represented by the note whith this morf~oge secures. RFTH: To permit, conwnit or wffer no waste, impairmeM or deterioration of said property, or eny part thereof, and upon tfie failure of the Mortqa~or ro keep the buildin~s on scid propertp in qood oo~dition of ~epair, the Mort~agee moy dema~ the ' immediate repai~ of :aid buildin~s, or an intreose in the anaunt of security, or the immediate repayment of N~e debt herebr ~ secured, and the foilure of the Mortyopor to aomply with wid demond of the Mo~tgagee for a period of fiheen (lSj doys sholl ~ constitute a breach of this nwrf~aye, ond, at the option of the Mort~a~ee, immediately mature the enti~e unpcid principal ond ~ interesf hereby setured, and the Mort~o~ee nwr, without ~otice, institute proceedin~s to forecbse this mo?tga9e, and opply for ~ the appointment of a receiver, as hereinofter provided. ~ SIXTH: Thot the Mort~a~ herebr promises, oovenanh ond a~rees to poy the sums of nwney ond iriterest os mentioned in soid pranissory note, /o~ether with any and all other wms jusNr due and owirp the Mort~aQee by the tenns therein, ond secured to be paid as stated therein prompHy when due. tf defauh shal: be made in the porment of the said wms of money or any part thereof os provided in the said note or this nwrt~a~e, or if the interest Nwt may beoome dve N?ereon or any pa~t thereof shatl be ~ ir, defauM and unpaid for a space of fifteen (15) doys, or sbould 1he Mortyaqo? breoch or fail to canplr with any other oovenont ~ or ayreement on fhe parf of the Mo~tpa~or to be canplied wilh ~in fhose cases in which the option of the Mortya~ee of occelera- ~ tion is not otherwise ezpr~ssly provided herein) ond wch breach or non-compliance continve in existence for a spoce of Rfteen (15) ~ days, then and from thenceforth, or M~e opnon of ~he N?ort~ayee and w~~hw,r nor~ce ro ~he Mon~a~, the whole of soid pr+ncipal ~ sum expreued in said note, byether with oll other wms therein as well as he~ein provided fo?, sholl become immediotely due a~?d ~ payoble, withovf notice to the said Mo?t~epor. ~ ~ ~ SEVENTH: That in case it should become necessary to place this• mort~aye ond the note secured hereby w either of them, ~ in the hands of on aHorney for collection, fhe said MorlQagor tovenants and a~rees with the Mortgayee to par all cosh, chorges ~ and expeoses of sucfi collection, includin~ reasonoble atrorney's fees whether collected by foreclowre or otherwise. ~ EIGHTH: Thot, in the event any wit is brou~ht upon this mort~a~e, whether to foreclose it, to reform it, or otherwise, ~ andior fo enforce payment of anr daim hereunder, the Mort~Qyee may epply to any covrt hoving jurisdiction thereof~ for the appointment of a receiver of said mortqaQed propert~?, as well as the income, profits, issues and reverwes thereof, and the soid ~ ~ ~ ~ _ z _ ao~ 1y2 2638 ~ - ~ ~ - - ~Y:~~r ~ _ _ ~ _ _ . - - -