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Home My WebLink About2818 ~t ; ` : ( : tender to the Mortg~ in acco~+dane~ wi~j? lhe rii~M ot the note secured I~errbr, tull ntent ot tl~e entire iadebtedner represinted the~+ebi. tMe Mor~it,~iaes. as trustee, ehall~ in computing t1~P amount of sucl~ indebeedne~s. credit to the ~ccount ot the Mong~gor u~y credit bal~nc~e re~n~i~ing under the provisioiis ot oI s~id ph Z. It thetr shall bc a def~ult unde~ any o~ the pmvisio~~s of this ~noctga~ resulting in a s~ public sale o the premises covered hereby~ or it the Mortgagee ecquites the prope~ty otlierw~8e afte~ def~ult, the Mortgagee~ ts trwtee~ ahall ~pply. at the time ot the comuiencement of such proceeciir?gs or a~ ~~18 ~llllP the property is ot.henvise acquierd~ the amount then remaining to ccedit of Mortgagor under (s) ot pareg»pl~ 2 precediag a~ ~ credit on the intereat uccrued and unpaid and the b~l~nce to tl~e principal then remaming unpa~d on said note. 4. He wiU p,y all taxes, ame~ements. wstee i'~?ta. and otbe~ ~oveiamentaJ or munieiPal obe?e'Ree. Bner,. or impoeitba~, for wWoh provi~don 6aa not been made hereiabetore. and in defsult thereot L6s Ddo~t~gee m~Y P4Y ~ rams; aad tbat bs wiU pe~ompt~y deliver the offic~al reoeipte therefor to tbe bi~tt~ee. b. He wW pee~mit~ oommit, or suder no waste, imp~irnnent~ or detaioration of said properly o~~aa~ pnrt thereof eaoept reaaooab~s we~r a~ t~ear~ and in Lhe eve~at ot the f~ilure ot the Morf~gor `o keep the. uitdiagri on esi~ ~ ~ ~ ~ ~ ~ ~ ~d p~q~ ~ ~prov~nenta t,h~eOn, in ~ood repair the Mort~agee muy mske suoh repairs ~s in its discretion it may deem aeoeeeaty for the proper preservsti~ theno~, aad the fuU amounL of eaoh and every sueh payment s6ait be due and p~yable t6t~y (30) ~YS be seoured by tbe li~ of this mort;~e. t ~ r S•~; udina 6. Ha will p~y all and sinaular the oosts, and e:pensee, inaludin~ reasonsble ~?wyer'a feee, and oasts of sbstas~cts ot title, incun~ed or pedd at aqy time~ t r ~ r~ertgagee b e c auee o f We f a i lure on L h e p s t t of t~he Mo r t$ a g or promptly and fully t,o pedoran the agree~nenta a~ covenanta of eaid promieeory note and t,hia mortgage~ and said oosts, ~hargea, and expeasee ahall be immedist~i due and p~yable and ahaU be eecured by the lien of t~a mortgage. 7. He aill oontinuoua~y maintain h~ud iffinranoe, of suc6 type or types snd smounta sa Mortgagee msy ' imm time to time require, on the improvemente now or hereatter on asid premiaes and eaoept when payment tor all such premiwns has t6eretofore besn made under (s) of paragrsph ~ hereof ~?e will psy pmmptly when due any premiums therefor. All insurance shall be carried ia oompanies i?PPmve~ by Ma~ and the poli- ciee and renewala thereof shall be held by Mortgagee aud bsve sttached thereto loes payable uses in fsvor of and in form aa:eptsble to the Mort~ag . In eventi of loes he will give immediate notioe by msil to Mortgagee, and Mortgagee may make .proof of I~ if not msde promptly by Mortgagor, snd ea,ch inseiranae oompany ooncerned is hereby~ suthonzed and directed to make peyment tor such lo~ directly to Mortga~ee~ b tesd of `,o Mortgagor end Mortgagee 'ointly, and tLe inaurance proc~eeds~ or any psrt thereof, may be sppli y Mort- gagee a~ ita option either to ~e reduction of tLe indebtedneea hereby eecured or to the resWration or repsir of ihe praperty dama~ed In event of foreclosure oi tbia mortgage or othe~r t~nafer of Wtle to the mortgaged property in eatu~guishment of the indebtednees eecured hereby, afl right, title, and iaterest of We Mortgagor m and to i?ny ~naurance policies t6en in force ahall pnss to the purchaser or grsntee. 8. 1f tlie prn~nises, or an~- part tLereof, be condeiuned under tl~e power of eminent doi~iain, or acquirnd for a public use~ tlie daniages awarded, tl~e proceecls for the taking of, or the consideration for sucl~ acqu~sition, to the extent. af the full a~uount o( t}ie remaining unpaid indebtedness secured b~• this-mortgage, arn 1?ernb~- assigned to tlie Mortgagee, and his heiis or assigns, and shall be paid forthwith to said Mortgagee or liis ass~n ee to be applied on account oi the last inatunng installmenta of such indebtedness; provided, however, the Mortgagee or h~ sssi~nee, ~na~ at hia di~cretion pa~ direct to the Mortgagor, l~is heirs or assigns an~ part. or all ot such awarci; pro~~ded~ that if the loan is guaranteed or insured, the consent~ of the guarantor or insurer is obtained in advance of said pa~ ment. 9- The Mortgagce may, at any time pending a suit upon this mortg,age, spp1Y-to the oourt baving juri~dfction thereof for the appointment of a receiver, and such oourt ehall forthwith appoint s receiver of the premisee oovered hereby all siid eingular, including alt and singular the inaome, pro5te, iasuea, and revenuee from whatever eource ~ derived, each and every of which~ it being ezpressly understood, is hereby mortgaged as if epecifically set forth and ; deecribed in the granting and hshendum clsuees hereof. 8uch appointment shall be made by such uourt as an admitted tquity and s matter of abaolute right to esid Mortgagee, and without refereace to the adequaay or inadequacy of I t,~e value of the property mortgnged or to the e~lvency or ineolvency of said Mortgagor or the defendsnts. Such ! renta, profita, in~ome~ issuea, and revenuea ahall be applied ti~ such receiver scoording to the~ lien of this mortg,age f and the practice of such court. In tLe event of any default on the part of the Mort~ngor hereuader, the Mortgagor agreea to psy to t6e Mortgagee on demand as a reaeonable mont~ly rental for the premiees an amount at Ieast equivslent to one-twelfth (~s) of the aggregate of the t~vetve monthly installments payable in the f,hen current year plua the actual amount of the annual tsxes, ~ente, water rates, and ineumnoe'premiums for such year not covered by the aforeeaid monthly psymenta. . 10. In the event of any breach of this mortgage or default on the part of the Mortg~a~r~. or in -tbe eQent that any of eaid wms of money herein refened to be noti promptly and fully paid acco~to~he ~nor'L'e~of; or in the event that esch and every the stipulations, agreementa, conditione, and oovenan ~ said note and this mortgage, sre not duly, promptly, and fully pedormed; t6en in either or any such event~ the eaid sggregate ~ mentioned in said note then remaimng unpaid, with interest accrued to thst time, and all moneya eecured hereby, shall become due and p~yable forthwith, or thereafter~ at the option of said Mortgagee, sa fully and o~mpletely sa if all of the said aums of money were origtnally stapulated to be paid on such day, anything in said note or in this ,tportgage to the contrary notwithstanding; and thereupon or thereafter, at the option of said Mottgagee, without notice or demand~ suit at law or in equity, may be prosecuted as if all moneya eecured•hereby had matured prior to its institu- tion. The Mortgagee mt?y forecloee this mortgage, sa to the amount so declared due and payable, and the said premiees shall be sold to estisfy and pay the same together with costa, expe~es,. and allowances. In case of partisl foreclo~ure of this mortgage, the mortgaged premisee ahall be aold subjec.t to ttie continuing lien of this mortgage for the amount of the debt not then due and unpaid. In such caee the pmvisions of this parsgraph may again be availed of t6ereafter fmm time to time by the Mortgagee. 11. No waiver of any oovenant 6erein or of the obligation eecured hereby ahall at any time thereafter be held to be s waiver of the tesme her~of or of the note eecure~ hereby. 12. The lien of thia instrument ehall remain in full foroe and e6ect during any post.ponement or extenaion of the time of psyment of tbe indebtedneee or sny part thereof eecured hereby. ~ 13. If the Mortgagor defsult in any of the oovenants or agreemente oontained herein~ or in esid note, then the Mortgagee msy perform the eawe~ and all e:penditurea (including reaeonable attorney's fees) made by the Mortgn~ee in eo doing shsil draw interest at the rate provided for in the principal indebtedness, snd shall be rnpayable thirty (30) days atter demand, and, toget6er with interest aad costs accrued thereon, shall be secured by thia mortgage. 14. Upoa the request of the Mort~agee the Mortgagor shall ea~ecute and deliver a supplemental note or notes for the sum or sums advanced by the ~iortgagee tor the alteration, modernization~ improvement, main- tenance, or repair oi asid premises, for taxes or as.Qessments egainst the same and for any other purpose euthor- ized hereunder. Said note or notes ahall be secured hereby on a parity with ond as fully as ~f the advance evidenced thereby were included in the note 6rst described above. Said supplemental note or notes shall bear interest st the rste pmvided for in the principsl indebterlneas aad shall bepa yable in ap pro!cimately equsl monthly payments for such period sa msy be agreed npon by the creditor and debtor. Failing to agrec on the msturity, the whole of the sum or sums ao advanced shall be due and ps~able thirty (30) days s(ter demand by the creditor. In no event shall the msturity extend beyond the ultimate raaturity oi the note first deacribed ~bove. ~c~0~ a~~?5~ _ _ _ . j ~ TzY,~i~ : a91ho~Rt a~f a~t.li~'~%~~.m~a~$nS~f~'.."'? .c _