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Home My WebLink About1150 tender to the ~lurtg~gee in ac•cordance v?•itl? the provieione ot the not~~ ~ecurt•~I ht•mb~-, full pa~•nu~nt of tlu• e~tire indebteclneas reprcaented tLerebv, the ~I1lortgagee~ ea trustee, ~}iall, in computi~?~,• t1~~• an~ount o( su~•1~ indebtecinesa, creciit to U?e accou~it ot tlie ~fortgagor anr credit balance n~u?ainin~ und~~r th~• pr~,~~isioi?s ot ~e~) ot seid paragraph 2. If tl?ere sha11 be a dcfault under an~ of the pro~•isions of tl?is nwrtKa~e resultin~ in public sale o( the p~en~isea co~ered hereb~•, or if the Aiortgag~•e acqu~res the propert~• otht~rw•~sP after default, the Mortgagee, aa trustee, shall appl~•, at the tu~ie of the commencement of such pra•e.~din~ or at the tinu~ the propert~• is otherwise acyuired, tl~e an~ount U~en ren~sining to crndit of ~lortga~or un~ler (a) of paruKrsph preceding as a creclit on the interest accrued and unpaid and tt~e balance to the principal tlien rni~?Rin~r~ unp~~~l on said notr. 4. He will p~y ell tssee, ~eeeasments„ we?ter n?tes~ ~ad other governmentat or municipa[ chargea, finea. or ~ impoeitions, for which provision hae not been made hereinbefore. and in default thereof the Mortgagee mey pay the eame; and t6st 6e will prc~mptiy deliver t6e o~cial reoeiptE therefor to the 1blortgagee. 5. He will permit~ oommit, or auHer no waaLe, impairment, ue deterioratioa of esid property or aay psrt thereof~ except reasonable wesr and te~?r; and in the even~ of t6e failure of the Mortgagor to keep the building,a on eaid premises and thoee to be erected oa eaid premieee~ or improv~emente thereon~ in good repair, the Mortgagee may make auch repaire aa in ita diecretion it may deem seceeeary for the proper preeervation thereof~ and the full amount of each and every such payment shall be due and psyi?ble thirty (30) daye sfter demaad, and ehall be aecured by the Uen of thie mortgage. 6. He will psy all and singular the coata, chaigea, aad ezpensee~ including reasonable le?wyer's fcea, and caete of abstr~cts of title, incun~ed or paid at uny time by t6e Mortgagee becauee of the failure on the pert of the Mortgagor promptly and fully to perform the agreements and oovenante of eaid promiseory note and this mortgage~ and esid - ooata~ charges~ and expenses ahall be immediately due and paysble and ahall be eecuc~ed by the lien of this mortgage. 7. He vvill oontinuoual~ maintain hszard ineurance, of such type or types and amounts as Mortgagee may trom lim~ to time require, on the improvemente now or hereafter on esid prem~es and e.tcept when payment tor ell such premiums haa theretofore been made under (a) of paragraph 2 hereof he will pay promptly a hen : due any premiums therefor. All insurance shall be carried in oompanies approvec~ by hlortga~ee and the poli- ~ cies and renewals thereoi shnll be held by 1Sortgagee and have attached thereto loss payable cfausee in favor of and in form acceptable to the Mortga~ee. In event of loss he will give immediate notice by macl to Mortgagee, and ~iortgagee may make proof of ioss if not made promptly by Mortgagor~ and each insurance oompany ooncerned is hereby suthorized and directed Lo make payment for such l~s du~ectly to 111ortgagee instead of to ~iortgagor and Mortgagee jointly, and t6e insurance proceeda= or any part thereoi, may be applied by Mor~ gagee at tts option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property dama~ed. In event oi forecloaure ot this mortgage or other transfer of title to the mortgaged property in excinguishment oi the indebtedaesa eecured hereby, a~l right, title, and interest of the 1liortgagor m and to any insurance policie~ then in force ahall pass to the purchaser or grantee. ~t. If the premi~5, or an~- part tl~erno~, lx c•ondeuu?ed under tlie poHer of eminent do~nain. ~~r a~~quir~~~1 f~~r x public use, tl~t~ dai~~u~es a~arded, th~• proc•er~ls for the takin~ of, or the considt~ration [or .u~•h acyuis~t iuu, t~? ti~e extent of the (ull u~nount of th~• ren~sinin~ unpai~l indebt~dness secured b~' ti~i, ~uort~;:~~;r. :~rr lirrrl,~- IISSI~OPd to tLe ~fort~aKee, u~?d his h~its or assigns, und si,su ~ pa;~i r~~~~~.+~~c~~ to~suid ~iort~;a~:~~r or 1ii~ assignee to Ix appliecl on ac~ount of the la~t maturing install~ne~its of such indebtedne~; prn~-i~lyd. 1io~rr~~t•r, the ~lortgaf;ee or his assi~nee, n~a~- at his di.scretion pa~• direc•t to the ~Tortgagor, h~s h~~irs ur :~.c~i~n. anr p,?rt r or all af sueh a~card; pro~icled, that if the loan is ~uaranteed or insured, the consent o[ th~ Kuarantnr or ii~sur~•r ; i. obtainei) in n~i~•ance of said pa~'~uent. ' The Morcgagee may~ at any time pending a suit upon this mortgage~ apply to the oourt having jurisdiction € thereof for the appointment of s receiver~ and such court shall torthwith appoint a receiver of the premises co~~ered ' hereby all and singular~ including all and singular t6e income, proSta, iasues, and revenues from ahatever source derived~ each and even of which~ it being expressly understood. is hereby mortgaged ss if speci6caily set forth and described in the granting and habendum clauses heteof. Such appointment shall be made by such court as an admitted ~ j equity and a matter of absolute right to said Mortgagee~ and without reference to the adequacy or inadequacy of ; i the ~ slue of the property mortgaged or to the solvency or inaolvency of said Mortgagor or the defendants. Such ~ ; rents, profits, income, issues, and revenues shall be applied by such receiver according to the lien of this mortgage ~ s.nd the practice of such court. In the event of any default on the part of the Mortgagor hereunder, the liortgagor f agrees to pay to the ~iortgagee on demand as a reasonable monthly rental for t~e pr~emises an amount at least equivalent to one-twelfth (~y) of the aggregate of the t~elve monthly installments pay~able in the then current ~ year plus the actual amount of the annual taxes, asse~ments, water rates, and insurance premiums for such year ~ not co~ ered by the aforesaid monthly pa~•menta. ~ ~ 10_ In the event of any breach of this mortgage or default on the part of the Mortgagor, or in the event that Y any of said sums of money herein referred to be not promptly and fully paid according to the tenor hereof, or in the ~ event that each and every the atipulations, agreements, conditions, and co~•enants of said note and this mortgage, ~ ar~ not duly~ promptly, and fully performed; then in either or any such event~ the said aggregate sum mentioned ~ in said note then mmaining unpaid, with interest accrued to that time, and all moneya secured hereby, shall become ~ due and pa~~able forthwith, or thereafter, at the option of said 1~'Iortgagee, as full3 and completely as if all of the ~ eaid sums of mone~ were originally stipulated to be paid on such day, any thing in said note or in this mortgage to ~ the contrar~• notwithstanding; and thereupon or thereafter, at the option of said Niortgagee, v?ithout notice or ~ demand, suit at law or in eqaity, maS be prosecuted as if all moneys secured hereby had matured prior to its institu- ~ tion. The :~iortgagee may foreclose this mortgage, as to the amount so declared due and pa~•able, and the said ~ pmmises shall be sold to satisfy and pa~• the same together aith casts, expenses, and alloaances. In case of partial ~ foreclosure of this mortgage~ the mortgaged premises shall be sold subject to the continuing lien of this mortgage = for the amount of the debt not then due and unpaid. In suc6 csse the provisions of this paragraph ma~• again be ~ availed of theresfter from time to time by the 1liortgagee. 1 i. No waiver of any covenant herein or of the obligation secured hereb~• shall at an~• time thereafter be held ~ to be a waiver of the terms hereof or of the note aecured 6ereb} . 1''. The lien of this inatrument shall remain in full force and efiect during an~• postponcment or extension of - the time of pa~ ment of the indebtednesa or anS• part thereof eecured hereby. ~ 1:i. If the Mortgagor default in any of the covenants or agreements contained herein, or in said note, then the Mortgagee mey perform the same, and atl expenditures (including reasonable attorney's fec~) made by the Diortga~ee ` in so doin~ shall draw interest at the rate pro~~id~d for in the prin~ipal indcbte~ln~ss, and shall tx• mpa~-able - thirt~• (30) days a(ter demend, and, together w ith inter~~st and costs accrued thereon, shalt be s~~ ured b}' this mortgage. . = 14. Upon the request of the ~lortgagee tt?e ~lortga~;o~ shall e~ecute and dcliver a supptemental note or notes (or the sum or sums ad~anced b}• tbe ~lortgagee tor the alteration, modernization, impro~•emcnt, maiu- = tenance, or repair of said premises, for tax~ s or essessmrnts a~ainst the same arnl for en~~ oth~•r purpose auti~or- ized hereunder. 5eid note or notes shall be secured t~ereb~• on a parit~ ~•it6 and as full~• as if chc• ad~•ance e~•idenced thereb~• w•ere included in the note first deseribed abo~ e. Said supplemental note or notes shall bear _ interest at the rete pro~•ided for in the principal indebteclness and sLall be pa~•able in aQproximatel~- equsl _ monthl} pavmcnts for such period as may be a~reed upon by the creditor and debtor. Failtng to agrcr on the =e~ maturit}, t~e w•6ole of the sum or sums so ad~•anccd shsll be due and pa}•able thirty (30) da~s att~r ~I~~mand by the creditor_ In no e~ent shall t;he maturit~ extend be~ond the ultimate r_i~turit~- o( t6r note first - described abo~ e. :F--~ s~~x 199 P~~E 1~.49 : ~ , . _ - _ . _ _ . -