HomeMy WebLinkAbout0645 t~~nelrr lo tht~ \turt~;:~~;~~~~ i~? ur~•ur~lau~•c• w•it1~ tt~c~ p:Y»•iviuns ~~j 1lu~ i?ut~~ +~~~•utivl hrr~~l~~'. ftill ~~a~'ni~•~~! u( tlu•
rt~Urn inilrbt~tiln~:,.~ r~•pr~~~~nt~Kl th~•reb~'. thr W~?~t~:e~r~~, Iru.l~•~•, ,h~ill, in ~•on?~uuii~~ t{u~ e~i?uu~it u( su:•1~
in~irbl~~lu~~~ i•rr~lit to th~~ n~•i•uw~t o( 1~u~ I~l.~rtga~or Hn~' cre~l~t hulanc~e rn~~?xin~n~ u~id~•r ~hi~ pn~vi.ioiic of (a)
af aai~l puraKrdpl~ 2. I( tlu~r~• sl~all.l~• u~Irfault un~irr en~• of tlu~ ~jm~•i~iu~is of tl~ix u~orl~;:.k~~ rr.ullink in n
publii~ :~elr of Nu• prnniuc~ i~~•~tri! he~rntn•, or if th.• ?11ort~n};ri• ~?~•yttirr+ thc pm~k~rtr ~?Ih~•~H•iu• aft~•~ ~I~~fault,
thc ~lort~;u~;~K•, us tru.~tr~•, shell uppl~•, at tl~r tir?c at tl~~ ~•o~iuui~ncr~n~~~it of su~•h pnK•~•~~~iiu;.~ or a~ ~lu• tiut~• {
th~ pm~x•rt~~ i~ otl~~•~~~ i.~ acyuin~l. thP amounl tl~~~~~ rniuaininK to cr~Y;it o( ~1ort~?~k::r un~i~~r (a) of ~?ura{;ruph ~ ;
previ•dinK ea a ~•retilit on tiu• int~~re~~t et~~eru~~i snd un~sRid and th~~ bula~u•~~ to tlu~ prini•i~~a) lhrn rnmi?iniuK unE,ai~l '
un ~sid :iat~~. i
4. He aiU psy ~tll ta~cee. aaeeeemeats~ wuter n?t~es„ aad other gove~nental or municipal chsrgea fiat~. ot i~
impoeitiona, tor wt?icb provisioa haa uot been msde hcrcinbefore, ~ad in default thereoi' the Mortgagee msy psy I,he f
ssa~e; and t6at he will pmmptll de4ver the o~cial reoeipt~ therefor to t6e Mortga~ee. ~
b. He will peranit, oommit, or suPfer no wa8te~ impairment~ or deterioration ot asid pmperty or sny psrt thereof,
eacept reaeonsble wear and tear; snd in the t~vent of tbe fsilure ot t6e Mortgagar to keep thr~ buildings on esid
pcenuaea aud t6oee to be ereetcd on eaid premieee~ or impmvementa thereon, in good repair, the Mortgagee may ~
make such repaira ae in ite diacret~on it m~?y deem neceaaar~• for the pmper prc~eenration thereof~ snd the fuli smount
of each and every euch payment ahall be due and payable thirty (.30) daye after demand, and ahsU be eecured by
t,he licn of thi~ mortgage.
6. He will ps~ aU and ai~,gu:ar the coate, ~ and expeneee±~ including reaeonable lawyer'e feea, snd coeta
of abstracts of title, incurred or paid at auy time by t e 1liortgagee because of the failure on the part of the Mortg~agor
promptl~ and tully to perform the agreements sud oovenant$ of eaid promiseory note and this mortgage~ snd said
ooats~ chargea, end expcases ahal! be immeciiate(j? due ~nd payable and shaR be eecured by the uen of thia mortgage.
7. IIe v~ill oontinuous~y msintain hazard insutsuce~ ai such type or types and umouats as ~iortgagee msy
fmm time to time rcquire~ on the impmvemente now or hereaft~er on s~ud premises and eacept, when paymen6
for all such preiniums has t6eretofore been msde under (s) oi paragraph 2 hereof ~e will psv pmmptly when
due any premiums thcretor. All insurance aha11 be carrieii in companzes approve~ by I1lortgagee ead the poli-
cies aud mnev? als t6ereof shall be held by Mortgegee end 6sve attached thereto loss payable clausee in tavor of
and in form acceptsble to the ~iort~gee. In e~ent of loes 6e will give immediste aotice by mail to Mortgagee,
and ~lortgagee msy make proa[ of foss if not made pmmptly by ~iortgag~or~ and each insurance oompany
ooncerned ~s hereb • authorized and directed to make payment for such loss directt~• to Mortga~ee inatead of
tc~ ~Iortgagor and ~iortgagee ointly ~ and the inaurauce proceeds. or any part thereof, may be applied by Mort.
gagee ac its option either to t~e reduction oi the indebtednc~s hereby secured or to the rectorat,s~?n or repair of
the propert.v dama~ed. In e~ ent of foreclosure oi this mortgage or other f.ransfer of titl~to the ~artgaged
property in extinguishment of the indebtedaesa eecuted 6ereby, a~l right, title~ and interest ot the Mortgsgar
m and to anv insurauce poticies thea in force shall p+iss to the purchaser or grantee.
~ I[ ihr prrn~i.~~. or iu?~• p:~rt th~~rruf. IH• i•ouclr~~inrcl un~l~•r tli~ {k>~~•~•r e~t ~~~nine~~~t do»~»in. nr aryuir~•~1 f~?r
a pitblit• u.r. ih~~ <ltinui~?e•: a~~~a~r~l~~~l. th~• pru~•~•~•~I• for 1h~• tui:i~ik of. ur 1h~• ~•on.idrrati~~u (or:u~•h a~•yoi.iti~~n.
th~~ r~tr~it ~?f th~• full i~m .ui~t nf th~• r~~m:iiniu~: unp:~i~l in~l~~bt~•dnr.s ~r•~•urr~l h~- thi.. ~u~~rtk:i#:~•. ar~• lu~r~•i?~
a~<i~ur~! to thr \lurt~*:~}~~•~•. :u?il hi~ !«•irn ~~r a~.i~;n., :t~~~l •I~al) tN• ~;i?i~i f~~rtii~cith tci s:?i~l \1urt~H~?~~r or ili•
ussi~;~~~•i~ t~~ IK• a~~plir~i on a~•~•oitnt uf tf~r lust «~aturi~~~ n~•tHllu~e~nt, e,t su~•h indrbt~•dn~~.; prnci~l~•~I. hoa-,~~-~~r,
tlee \lort:.':i~;~•~~ i~r hi~ :~,+.,iknr~~. n~a~~ at hi~ di:~•r~~1i~~u pi~~- dir~•~•t t„ tli~ ~IortKa~:or, I~i, h~~in or n,.,.ir~?, au~- ~?urt
or all ~~f :u~•h u~~-ard: pm~•ul~•~1. tl?tit if th~• (u:u~ is ~?u:~r~~nt~•~•~I ~?r insun•~I. the ~-ons~nt of th~• ~?tuirantur ur i~~surnr
i. ohtain~•~l i~~ ad~•a~?c~ of :ai~f pa~-nu~nt.
The :liortgagee may~ at any time pending a suit upon this mortgage~ apply to the court haviag jurisdiction
thereof for the appointment of a receiver, and such oourt shall forihwith appoint a receiver of the premises co~ered
hemb~• all and singular, including all and singular the income~ profits, issues~ and revenues imm whatever source
deri~ed, each and e~er~ of ahic6, it being expressly understood, is hereby mortgaged as if speci6cstl~• set forth and
described in the granting and habendum clauses hereof. Such appointment shail be made by such cx~urt as an admitted
equit~ and a matter of absolute right to said 1liortgagee, and without reference to the adequac~ or inadequac~ of
the ~alue of the propert~• mortgaged or to the sol~enc~ or insolvency of said ;~iortgagor or the defendants. Such
mnts, profits, income, issues, and revenues shall be applied b~ such mceiver according to the Gen of this mortgage
and the practice of suc6 court. In the event of any default on the part of ihe :liortgagor hereunder. ihe l~iortgagor
agrees to pa~ to the ltortgagee on demand as a reasonable monthh• rental for the premises an at,iount at Zesst
equi~ alent to one-twelfth (!f y) of the aggregate_ of the tvrelye monthl} installments pay able in the then current •
~ear plus the actual smounE of the annual taxes, as~essments~ aater rates, and insurance premiums for such year
not co.ered by the aforessid monthly ps~•ruents.
1~?. In the e~ent of any breach of this mortgage or default on the part of the ~iortgagor. or in the eti•enL that
any of said sums of mone~• herein teferred to be not promptly and full~ paid according to the tenor hereof, or in the
e~ent that each and e~erv the stipulations, agmements, conditions, and co~•enants of caid note and this mortgage.
are not dul~, pmmptl~•, and full} performed; then in either or an~ such ever,t, the said a~mgate sum mentioned
in said note then mmaining unpaid, aith interrst accrued to that time, a~d all mone~~s securc~i hemb~ ~ shatl become
due and parable forthwith, or themafter, at the option of snid ~lortgagee~ as fullS and completel~ as if all of the
said sut~s of mone~• were originall~ stipulatecl to be paid on such da~-, an~thing in snid note or in this mortgage to
the contran• notwithstanding; and thereupon or thereafter, at the option of said Alortgagee, aithout notice or
demand, suit at law• or in equitp~ mat- be pro..ecutrd a4 if all mone~-s securrd hcre}» had matured prior to its institu-
tion. The ~lortgagre ma~ forerlose this mortRniRe, as to thc amount so declared due and pa~~abk, and the said
pmmises shalf t,e sold to satisf~ and pa~• the s:uue togeth~r w•ith costs, expenses, and allohances. In ca~e of partial
fomclo~um of this mortgage, the mortgaged premises shall be sold subject !o the continuing lic•n v[ this mortg;~e
for the amount of the debt not then deie and anpaid_ In such case the pm~isiuns of !his paragraph ma~• again be
s~•eiled of thereafter from time ta time by tlie \lortgagee.
1 1 ;~o wai~er of any oovenant herein or of the obligation securc~l h~mt?~- shall at an~• time themafter be held
to be a v~aicer of the terma hereof or of the note secured hemb~ . _
The Iien of this inatrument ahaU mmain in full force and ePfect during an~• postponement or extension of
t6e time of pa~•ment of the indebtedncss or an}• part thcreof eecured hereby.
l:t. If t6e ~iortgag~r defauit in any of the co~•enants or a~rcementa containeci t-tP[['ID, or in said note, then the
~~ortga~ce ma~~ perform the o4me, and all espenditures (including :rasonable nttorney's fecw~ ma~ic by ~he ~tort~~ee
in ~+1~?ink ~FIAII (Ir8N' IIIIfY 1 AI ~~IP rat~ pru~~i~l~•~1 G~r in th~• ~?rin~•ipn! in~l~•htr~lrn•~~, an~l ~hell !K• n•~~R~'N~11P
thirl}~ (30, ~la~-s aftc•r dc•mand. an~l, tog~~ti~c~w-itl~ ~utrnwt a:td ~•osts accru~~d tlu•r~r~n, ~f~aii br ,~rurril b~•
this mortgagc~. '
1-i. l'~ ,n th~ r~•yu~wt nf th~ ~l~~rt~;H~;~•c th~• ~tort~;a;;o~ shall c~~cY•nte Knit ~1~•li~•~~r e suppl~~tn~v~ta! t~ol~~ ~~r
not~•s for t1?e sum or sutns ad.•nnce•~l 1,~• tlu• ~1urt~;n~;~•~• l~~r th~• alt~•rntion. i~u~~1~~r~~i~Htims. iu~prov~•nirnt. n~ein-
t~~nan~-f•, or rr~?air u( ~ai~l prnmi.~•~, for tax~~ti ur a••~•~.nu•nts a~;xinst tlu~ ~ntn~• eu~l G?r N:i~• ~.th~~r pur~~~?..• Huth~~r-
izr~l tu•r~•un~l~•r. ~ai~! not~~ or rmt~~ sl~ali b~~ ~~~•urtvl h~•r~~bv ~m a parit~• ~~~ith and a~ fuii~• a~ if thr a~i~~anrr
et•~df•nt~rd th~~re•1~~• w•ere inrlud~•d in th~~ noti• ~cst d~~ritN•~I a~~o~•e•. :+aid ~upp1~•rnrnla) ~~ot~• or n~>l<•ti.hall b~~Hr
intPreq! at the~ rat~~ pmvi~lyd for in thr prinripul indebt~~ln~~s~ aml ~I~all IK ~K~•nblr in a~rpmximat~•1~ ~•quul
m~?nthl}• pe~-in~•nts [or su~h ~x~riod as ma~' I~c e~}„m~•d u~K?n tr~• th~ ~•n•~I~tor an~l ~~~•btur. Fail~n~ to n~;r~•r c~ii th~•
mat~irit}•, t{~t~ wh~elr~ o( th~• sum ~~r sum~+ .o e~l~-an~•~•d ai~nl( b~~ ~lu~• A111I ~Ip~'H~~I~• ti~~rt~~ (:i(I) ~inc. aftrr ~trmnnt~
b} the ~r~•d~tor. In no e~•~~nt shall tlu~ tnaturity extcud l?e~~•und tl~~ ult~r»ai~~ taeturity uf t1u• n~?l~• tir-1
d~cnbed st,o~ e.
at,ur.1~4 645
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