HomeMy WebLinkAbout2828 2. To pe~mi~, couimit or ~u8e~ no Ma~te and ~o main~ain ~Ae impro~~mant• at all ~im-. in s,tau of ~ood repai~ sr.d condn~on. and ~o
do or permit to !.r dune tu ,aid prcmi+e. ~uthine ~hat ~~ill alter or c~anKe eAe we sad cAaractcr of u~d proprrt~ or ~n aa~ ~.a. ~mpa~r or
wea?ta ~he ~ccwiry of iAi~ mu~~gsRe. :?nd in cau of Me refu~al, oeRl~et or inal+~li~~ of tAe \tortpRor ro repair snd ms~ntsin .a~e
~At \to~t~agee ma~, at it+ opiiun, n~ste .uth repsin or cause tAe same to !+e made and ad~ ance mune~. ia ~hat l+ahalf.
1. To pay all and sinRular the ase~ asses~ments, le.ies, liabilitics, a~d obli~a~io~s of ~.e~. racuri oa .a~d deac~ihed propen.
eacA a~d t\'tf)' NAC11 IIY~ a~J payable aceordine to la~r, be(ore the~ lxcome dcliayu~nt, aad ~o deli~er ~o ~he ~tor~~a~e~ oa or Pefore ~lsrch
IStA o( esch yaar taz ~eceipts e~ideocing ~he psyment of al) la~fully imposed ~sa~~ Eor ~he precedin` cil~ada~ ~esr; to iodamoih ~h~ \tu~t-
atee upoa ita demaod fo~ sll u:es, asaesuaeats snd ehargts tAst maY be asussed upun ~Ais nwrttate oa tAe iodc~teda~as •ecured Ae~~l~~,
sad paid br the \lo~tgagee, Nithuut regard to any la~ Aeretofore enaned o~ Aercatttr to be eaacted imposiat ps~m~ot uf tAe NAole o~
any pa~t thersol ~oon ~he \tor~gagee.
i. It is further co~enanted aad a~reed br said partie~ that ia tAe e~~nt of a suit t+eia` iasti~uted to ioreclose ~his ~aort~aje tAe
~1or~gagee ehal~ Ae entitled to applr at any time ptnding such foreclusure +uit to the eourt Aa~ioR juri~dictioa tAereof for ~he appoinemeat
of a reeei~tt o( all and aingular the mort~aRed propetty, and of all reats, iocomes, profits, issues and r~~tnues tAereof, (roea whaaoc~er
wu~ce deti~•r~1; and tAereupoa it is hereby tlPtlffl) t0\'tOilltld and ag~ced that the court shall for~Ar.ita appoint such ~eeci~~e~ NitA tAe
usual poKer~ aad dutie, of reeei~tts ia like easea; and said appoiatmeat aAaU he made b~ the eourt as a matte~ o( atriet ~igAt te tAe \tort-
R~[«. ~Qd without refereace to the adeyuaey ot inadequaey of the ~alue of tAe p~opert~ hereb~ mortRaged, or to t~e sol~-eneY or insol.eocr
of tAe htortgagurs or any aAer partr defendaat to such suit_ The A1o~tgasor here~y speeificalls vtsi~es thc riaAt to oDjeet to tAe appoiatmeat
o( a reeei~er as aforesaid and hercbr eipressly rnasents tAat sucA a?pointmcnt sAall be msde as an sdmitted equitY aad as a iosttet of
abwlute right to the ~1or~gsgee and tAat the aamt mas be doae without notite to tbe \tortgag~or.
S. To pay all aed singular thc rnsts, charges aod e:penxa, iacludiog attorney's f«s and abstract eo~ts, reasoaablY iocurred or paid
u aay time hy the ~lortgag~e 1+ccause of the failure of tAe Hlortgagor to perforrn, eompls ~sitA, and abide ~s cac6 and ececj tAt stipulations`
agreemena, rnaditions, and CO\'tO~l1[f of said promiswrr uote and oE c6ia mo~taate, or eicser.
6. That the Mortgagor vrill keep all rtal aad perwnal propertp oow or 6ereafter eocumbe~ed bJ t6e liea of t6ia ~sortaaat iesured
as may bt required from time to time by the Ntortgagce against losa bs 6re, wiadstorm and other 6a:ard~ taaualties and eoatioteocics for
,uch pe~iods aad for aot lesa thao such amouats as may be rtQuired br the Mort~aace and to pa~ promptt~ ~6ca due ali premiwas for sucA
iosuranee. The amounts of ia~u~ance required br the Mortgagee shall be the miaimwn amounes fot ~Sicfi saiA iasurscae a6a11 be wrin.n
snd it aAall be iacumbent upoa the Mortga6or to maiotain auch additiooal iwurance as mas be nceessars to merc aod caaplT fullj wit6
all co-insuranee requirements coataiaed ia said polieiea to the ead thst said ~tort6agor is aot a eo-insuror tbereuoder_ In~uraoee ssall be
written by a compaay or rnmpaaiea approved or dcaigoated br tAe ~lortgagee aad all polieies and rtoevcals t6creof s6aU be 6cld b7r tbe ~fort-
gagea All dcuiled desigaatioaa by the I?lortgagor v~hith sre accepced by the 1for~gagee and aU agreemean bce.scen ~1~rtgagor aod ~ton-
agee relatiag to insurante, oow e:istiaa or hereaftet made, shall be in writing and shall be a part of [Ris mortgage aareemeat as fully a~
thouRh ut fortl verbatim herein and ahall 6oretn ~oth parties 6ereto aad t6eir suetesson aod asugni \o lieo upo~ aoc of said policies of
iasuraace or upoa anY refuad or retura premium vrAich may be payable on the cancellation or terminatiou t6ereof, shall be gi.en ~o aher
tAan the I?lortgsgte, e:eept by proper eado~xment s~:ed to auch polie7r aod appro~ed b~ ~tortgagee. Eac6 polic~~ of iasuraoce ahal) 6a~e
a8i:ed thereto a Standard \e~+ 1'ork Mortgastt Claux without Cootri~utioo, makins all bss or losses ueder sutfi polier pacable ~o Me Non-
gagee as ita interest may appea~. la the eceot anY sum or sums of mone~ beeome pajable thereunder tAe ~tort6agee sha11 ha.e t6e uptioo
to reeeire aad apply the aame on account of the indeDtedaca 6erebr ~etured, or to permit the ~lortaa~or to receire aad use it, or anr part
tkcreof, vrithout thcrebr vrai~~ing or impairing aar tquity, lien or right uoder aud bf ~'irtue of ~Ais ~sort6sae_ !o e.~n[ of (o» or pAvsical
damage to the mortgaged propertp the Mortgagor ahall ~ive immediate naice thereof bs mail ~o the ~tortgagee aad tAc ~lortgag~e ma~ mate
proof of lo~s if the same ia aot made promptly b~ the Mortgagor_ In ereot of forccloaure of this mortga6e or oticr traosfer of title to the
mortgaged propertp ia t:tiaguiahmcnt of the iadebtedacs~ xcured Aerebr, al) rigfit, citle and interest of the ~fortgagor in and to aoy insur-
aace polieies then ia force shall pa~a to thc purchaser or graatee.
7. Thc ~lortgaRee ma~ at its option, and vrit6out waieing its rigAt to actelerate the iadebtedness 6ereb~ seeured aod to for~closc
the ~ame, par either before or alter dtliaqueacY aar or all of thox tertaia obligations required bt the terms 6ereof to be paid b~ the \fore-
R~Ror (or the protection of the mortgage se~uritr or for t6e rnllectioo of the iadetxedoess dereb~ xcured_ ~11 sms w ad. anced er paid br
th~ \tortgage~ shall be eharged into the mortgaae aeeouat sod become an iategtal part thereof, subjeet ia all respeets to tAe terms, condi-
~i~~ns, and cocenants o( the afore~aid promiswn aote, aod this raortgage, a~ fullr aud to thc sme enent as thougb a pan of the origiaa)
indcbtedne~~ e~ idenced t+y ~aid nwe and secured by this mortgage, e:eeptiog, Aov~erer, tAat said suras shall be r~paid t6e ~lortgagee for~h-
~+i~h upon in demand and be in addition to t6e regular monthl~ iosulimrnts pro~ided b~ t6e mortga~e nae.
i. That the ahstract or abstnda of tide rnvering the roortgaged properti s6:11 at all times, during tbe life of this mortgagc, remain
in ~hc poa~es.ion of the Mortgagee and in e~•eat of the foreclosure of this mortgsge or otAer traasfer of ritle to rhe morcgaged proper[r in
ca~ingui.hment of the indcbtedncss sccarcd 6erebp, all right, tide and interest of the ~lortgagar ia aai to aop such aburxts of titie ahsll paas
tu the purchaser or grantee.
I 9_ That no wai~•er of any eovenant herein or of the obligation seeurcd herebr shatl st an; time bcreifter be 6eld to be a Raircr
of the tcrms Aereof or of the oote sec~red herebY
~ 10. That in order to accelerate t6e maturit~ of the indebtedneaa 6erebY secured because of tbe failure of t5e ~tortgagor to pn aor
~ u~ a..~.sment, liahilit~•, obligation or encumbrance upon said propert~ as 6erein pro~-ided, it sAall oot be oecessar~ oor requisite that tAe
\tortgagee ~hall Ant pay the ~ame.
f 11. To ~he e:tent of the indebtednta~ of the btortgagor to the ~tortgagee deseribed 6ereia or aeeared herebs the ~tortga6ee is 6erebr
~ •u1~roRated to the lien or liena and to the rights of the owoers aod holders t6creof of eaeA and ecers mortgi6r, lieo or ocber ineumbrs~ee
~ un the land de•crilxd herein which is paid aad/or sati~6ed, ia vchole or in part, out of [he proeeeds of t6e b:n dcxribed 6ereio or secured
hcr~l.~, and the r~~pecti~e liens of ssid mortgage~, lieos or other ineumbraoeea, s6a11 be and the saene and cac6 of tsem herebs is preser•-ed,
and .hall pa•. to and lx held bi thc ~tortgagee h~rtin as seturitY for the iadebtedness to tAe ?Nonsa6ee herrin dexribed or 6erebr secured, `
~o ~hc •~me c:tent that it ~rould ha~~e been preser.•ed and would ha~~e beeo paaxd to aod ~ceo held bs the ~longagee had it bero dal~ aod
r~Kularl~ a••iKned, tronsferred. set over, and delivered unto th~ ~lortgagee by separale deed of ae~iaeencet_ notwithetan3iag t6e fact thsi
~ha .ame mac he ~ati~fied and esncelled of reeord, it beina the intention of the parties Atreto tAst tb~ ~:me Kill be satisetd and caocelled
uE r~cord b~ the holders thcrtof at or atwut the time of the reeording of this mortga6t.
12. lf ~ny of ~he sums of moncy herein referred to be 0ot prowpth and Eully paid Kit6ia thirty +30) dass Ks~ afur e6e same x.er-
~ all. cume du~ and pa}able, or if each and ecery the stipulations, agreemeats, eooditions and cviceaaots of said promiswr~ aore and tsis mort-
K~R~ or e~th~r, are na duly performtd, complicd vsith and abided br, the ag~regate sum m~nt~oocd in siid praniswr~ nae or othtrv~~se
~ -~cureJ h~rtl.~ .h~ll txcomc duc aod pa~aAlt forthwith or ~hereafter at the op~ioo oi cne ~iortaa6ee a• i~if~ aai cv.dy~e.f:: :s S~ :sid a~re-
Kat~ •um uf mune~ wa~ ong~nallr stipulatcd to hr paid on ~uch day, an~tAina in said promiswrr aae or 6en~o to tbe eootnr~ aotwit6xaed~n`-
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' 1) fhe ~1ortKagor, it..ucce•wr. or as.iKo., i. to rnmpl~ with the term• and conduwas of a coovructioo baa sRreement b~twaen tAe
~ ~SortRsKot and ~Fc ~torrKaKet. ~n riccut~d copy of Mhich is in the poax»ion of tA~ ~lortgaRee aad said coostruerioa loae agr~cmeat i.
~ n~.~n. ~ncorporat~d hercin M~ r~ferrnce and made a part her~of, a~d am~ drfault hp 11ort6aaor undtr a~aid coastruct~oa baa s~Crermeat
~ •Ihll t+e cunsidercd an t~ent of d~fault under this mortgage.
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~ li- It is harebv e:pr~a.lc aRre~d that th~ <tortRaRee. its .uccenwra and a••iQns will nl~ax fn.m tAt liea of thi. raor[RaRe aa~ oE rhe
~ lu?• drer~hcd her~in u~~n Nhich ther~ ha. heen con.tructed a huildinR u~x.n the pa~m~nt M th~ \tortRaRor to the ~tort~aRtt of sue1~ •um• a•
~ have txen ad~ane~d b~' the ~tortRaRe~ on the lot or lot. to Ix relaa.~d, toR~th~r ..~th accrued imrrc•t, pro.idcd that tA~ ~tort~a~ar, it•
.uc~~••ur• or a.+~Kn. ar~ not in default und~r ~m~ of Ihe ~erm• or tond~t~~.n. of ~hi• mort~a~~ or ans ot+l~Racioe or liatvlits seeur~d h~reh~,
~ and ha•c (ull~ cumplird Nith the tcrm. and rundition~ of 1h~ (~un.truction Loan .\Qrr~m~nt t+~t.~~~~ the ~1ort~agor and tAe ~1ortR~RK
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