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Home My WebLink About0018 tender to tlie \lurt~~gee in e~c~•or~lance w•ith tl~e pro~i~ious ot ti?e note serurn~l h~~reh~-, full pa~•inent o! th~• entire indebtednesa repre~ented thereb~•, fhe ~lortgagee. as truste~e, sliall, in co~nputii~K th~~ anu~unt of sucl? indebtedness~ credit to tl~e account of thP I~1ortge~or an~• ecectit balancF reu~ainin~; under th~~ pro~•isioi?s of lu) of said paragraph 2. If there shall be a detault under an~• of the pro~isious of this n?o~lga~e resultink in a public ssle ot the premises co~ered hereb~•, or if the :11~rtgt?g~•e acqu~res ihe pmpert~• oti?erW?se after default, thR rlortgaF;ee, as trustee, shall appl~, at the tut~e of the cointiiencru?ent oi sucn proceedings or at the tiiu~~ the propert~• is otherMise acquired, the amount then rnmainin~ to credit oi \lort~a~or wuier (a) of para~raph 2 preceding as a creciit on tiie interest accrued anc! unpaid and tl~e balanee to U~e princ•ipal then remaininK unpai~l f on said note. ; 4. He wiU pal chargee~ 6aes. or # psy ell taxee, seeeesmente. wster rstee. snd other ~c?vernmental or munici impoeitions, for ~vhich pmviaion haa not been msde bereinbefore~ and m default thereof the Mortgagee may pay the r aame; snd that he ~vill promptly deliver the o~cisl receipt~ therefor to the Hiortgagee. 5. He ~vil! permit~ oommit, or suRer no waate~ impsirmeat, or deterioratioa of eaid property or any part thereof~ eaccept reasonable wear and tear; snd in the event of the failure oi the Mortg~agor to keep the buildinge on asid premises and thoee to be erected on said premieee~ or impmvementa thereon, in good repsir, the Mortgagee may i make auch repairs ea in ita discretion it may deem neoeesary for the pmper preeervetion thereof, snd the full aanount ot each and every such payment shall be due aad payaMe thirty (30) daye after demand, and ahall be aecure~ by the lien of thie mortgage. 6. He will pay all and sing~ilar the coets~ ~ and e:pensea, including reaeonsble lawyer'a feea, and ooste of abatr~cts of title~ incurred or paid at any time by t e Mortgagee because of the failure on t6e part of the Mortgagor promptl~ and fully to perfornn the agreements and oovenents of said promiseory note and this mortgage, and asid oosts~ chargee~ and expenses ahall be immediately due and payable and ahall be eecured by the lien of thia mortgage. 7. He will oontinuous~y maintain hazard insuranoe, oi such Lype or typee snd smounts as Mortgagee may ~ from time to time require, on the impmvementa now or Lereafter on said premises and eacept when payment tor all suc6 premiums has theretofore been made under (s) of paragraph 2 hereoi 'he will pay prompWy when due any premiums therefor. All insurance shall be carried in compewies sppmved by I1io and the poli- cies and renewals thereof shall be held by Mortgagee and have sttached thereto loas payable c ausee in favor of and in form acceptable to the Mortga~ee. In event of losa he will give immediate not•ice by mail to Mortgagee, and ~iortgagee may make .proof of ioss if not made promptly by Mortgagor, and each insurance company concemed is hereby~authonzed end directed- to make payment for such lose direetly to Mortga~e~e instead of to Aiortgagor and Mortgagee jointly, and the insurance proceeds, or eny part thereof~ may be applied by Mor~ ~ gagee at ~ta option either to tbe reduction of the indebtedness hereby aecured or to the restorataon or repair of ~ the property dama~ed. In event of foreclosure of this mortgage or other transfer of title to the mortgaged property m eatinguishment of the indebtedneas secured hereby~ a~l right~ title~ and interest of the Mortgagor m and to any insurance policies then in lorce ahall p+~sa to the purchsser or grantee. t+. lf Uie pr~~~~iis~~, or an~- pt?rt tli~~reof, l~ conde~uued under th~ poN-er of e~ninent domain, ar ac~quir~•d f~~r a public use, tt~~ daii?aKc~ aN=arde~l, th~~ pre~•~~eds [or tl?e takin~ of, or the consideration tor suc~h acquisitioe?, t„ thP ~~xtent of tl?e full amount of the remaining unpaid in~lebtedness se~ured L~• this mort[;a~;t~, ar~~ h~•rrb~- ussi~m~~l to tlu• ~tortRagc~, and his heirs or assi~ns, and shall be paid forthH•itl? to said ~fort~~~~~~ or hi.. a~iKnee to t~c appliecl on ac~ount of tl~e last maturin~ installments of sucl? indeUtedness; pm~-ided, 1?ow•e~-cr, tlie ~Iort~a~ee or his a.ssignee, nia~- at his discretion pa~- dirnct to th~ ~fortgagor, his h~~irs or a.ssi~ns an~• part ~ir wII nf cu~~h t?w•wr~~ • nrv~~•i~ln~l thw~ if thn I~it?n ic vnwrnntnn~l ~r ineurnil ~~IP P(111CP11I nf t{~n m~.~runfn~ ~r incur...- - - > - • - - - - - - ~ ~ - • - - • _ _ _ . is obtiiin~~l in ad~•x~ece of said pa~•n?ent. The hiortgagee may, at any time pending a suit upon this mortgage, apply to the court having jurisdiction thereof for the appointment of a receiver, and such court BhaU forthwith appoint a receiver of the premises covered hemb~ all and singular, including all and singular the income, pro6ts, issues, and revenues from whatever source i derned, each and every of ahich~ it being expressly underatood, is hereby mortgaged as if speci6cally aet forth and ~ described in the granting and habendum clauses hereof. Such appointment shall be made by such oourt a4 an admitted s equity and a matter of absolute right to said Mortgagee~ and without reference to the adequacy or inadequacy of f the ~ alue of the property mortgaged or to the solvency or insolvency of said Mortgagor~ or t5e defendants. Such ; rents, profits, income, issues, and revenues shaA be applied by such receiver according to the lien of this mortgage ; r and the practice of such court. In the event of any default on the part of the Mortgagor hereunder, the 1liortgagor : agmes to pay to the ;14ortgagee on demand as a reasonable monthly rental for the premises an amount at least ~ ~ eQuivalent to one-twelfth (~z) of the aggregate of the twelve monthly installments payable in the then current p year plus the actual amount of Lhe annual taxes, assessmente, aater rates, and insurance premiums for such year ~ not co~ ered by the aforesaid monthly pa~•ments. ~ ~ I U. In the event of any breach of this mortgage or default on the part of the Mortgagor, or in the event that ~ any of said sums of money herein referred to be not promptl~ and fully paid according to the tenor hereof, or in the : event that each and every the stipulatioas, agreements, conditions, and co~enants of said note and this mortgage, ~ are not duly~ pmmptly~ and fully performed; then in either or any such event, the said aggregate sum mentioned in said note then remaining unpaid, with interest accrued to that time, snd all mone~•s secured hereby, shall become ~ due and pa~ able fortt?with, or themafter, at the option of said biortgagee, as fully and completely as if all of the ~ said sums of mone~• were originally stipulated to be paid on such day, any thing in said note or in this mortgage to ~ the contran• notwithstanding; and themupon or thereafter, at the option of said 1~Iortgagee, w7thout notice or ~ ~ demand, suit at law or in equity, ma~ be prosecuted as if all mone~•s secured hereby had matured prior to its institu- ~ tion. The ~iortgagee may foteclose this mortgage, as to the amount so declared due and pa~•able, and the said premises shall be sold to satisfy and pa~• the same together with coets, expenses, and allov?ances. In case of partial ~ foreclosure of this morigage, the mortgaged premises s6a11 be sold aubject to the continuing Gen of this mortgnge _ :or ihe smou~i of Lhe dehL ~oL then due s~~ ~~~,.:~.a,. I~ st;et~ csae the prus-i~ivus vi tt~ix paragrapn ma}• agaia oe fi? avaited of thereafter from time to time by the 1lortgagee. , =i 11. No waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held ~ = to be a waiver of t6e terma hereof or of the note eecured hereby. 1''. The lien of thia instrument ahall remain in full force and effect during any postponement or extenaion of : the time of pa~•ment of the indebtedaesa or any part thereof secured hereby. i:t. If the 1'Iortgagor default in any of the covenants or agreementa contained herein, or in eaid note, then t.6e = Mortgagee may petform the s~me, and all expenditures (including reasonable attomey's fees) made by the MottgaAee = in so doin~ shall draw interest at the rate pro~-i~l~d (or in the principnl indebtednc~ss, and shall b~ mpa~•able ; = thirt~- (30j da~•s after demand, and, together with interest and custs accrued thereon, shall be secured by ~ ' this mortgaf;e. 14. LTpon the request oi the ~tortgagee the ~tortgago~ shali eiecute and deliver a supplemental note or - notcs tor the sum or sums ad~•anced by~ lhe ltortga~;ee for the alteration, modernization, impro~ement, main- - tenance, oc rcpair of said premises, for taxcs or a.s~essments against the same an~! for ea~• other purpose author- _ ized hereunder. Said note or notes sl~all be secured l~ereb~• on a parity wit6 and as fully as i[ che acl~ance =3 e~•idenced thereby w ere included in the note first described abo~ e. Said snpplemental note or notes shall bear interest at the rate pro~ ided for in the principal indebtedncss and shall be pa~~able in a~pm~imatel~ equal ~ - moothly pa~•ments (or such period as may be a~;reed upon by the creditor and debtor. Faihn~ to agrec ou the S mat~rit~, t~e w•hole of the sum or sums so ad~anced sl~all bc due and pa~•able thirt~~ (30) da}•s after Jemnnd - by the creditor. In no event shall the maturity extend be~•ond the ultimate r_~aturit}• uf t6~• note first described above. ~O~r. PAC: ~O