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Home My WebLink About1628 tender to the Mortgagee in ~ccordance with the provisiona of the note secured hereb~•, full pa~•ment of the entire indebtedneea represented thereby•, the Mott~ageQ~ as Lrustee, ahall~ in con?puting tl~e au?ount of sucl? indebtedne$8, credit to the account ot the Mprt~agor any credit balance remaining uncl~r the provisiona of (a) of said p ph 2. If there shsll be a detsult uhder sny o[ the provisiona of this ~iiortgs~e rnsulting in n puWic sale~he premisea covered hereb~ ~ or if the Mortgagee acquires tl~e pmperty otlierh ise after cletault, the Mortgagee, as truatee~ ahall apply~ et the tune of the commLncement of such procc~edinga or at the tim~ the pmperty is otherwise acquired, the amount then remaining to credit of Mortgagor uncier (a) af paragraph 2 preoeding as a credit on the intereat accrued and unpaid and the balance to tl?e pr~nc~pal then rnuiainu~g unpAid on said note. 4. He will p~y all t~ces„ asseeenueats~ wstet rates„ and oiher governmental or municiPel che?rBee, f ae0. or impositians, for wbieh provision he~a not been made Lereinbefore, snd in defsult thereof t~6e Motf~agee may pay tbe same; sad thsti Ls will promptly deliver the o8'icial reoeipte~ therefor to the 141ortg,egee. r~ b. He will permit, oommit, or suQer no waste, Impairmen~, or deUeriorstion of eaid property or ~a psrt thereof except reasonsble ~vear and teu• sad ia the event of the fuilure of the Mort~agor to keep tM+ ' dingp on eai~ premieee and Waee to bs erect,e~ oa a~id pre~ao~se~, or improvements thereon, in good repsir the Mortgagee msy make euch repsirs as in it~s diecretion it may cleem neoeeesry for the proper preeervstion thereo~, and the full smount of esch and every such psyment ehaU be due and payable thitty (30) dsye atter demsnd, and atull be eecured by the lien of thia mortgaae. , ~ ~ • . , - ! ~ , ~ ~ 6. He will psy all and eingu~ae ~6e ~ooets, se ~~s,~nd e~tpeneee, iacluding ~ns~le lswyer'e teee, ana ooaia of sbetr~cte of title, incun~ed or p~sid st sny time b~y the I1~o~tgagee becauee of the failure on the pait of the Mortgagor opo~etms,pch ee, fand expenees ahall be '~m~aued'ist~y due sad~ psysble ~??nd shall be sryecured by the lien of t~ia mortg,age. 7. He will oontinuous~y msintsin hasard iffiunaae, of auch type or typeB snd eunounts se Mortgsgee mey irom time to time require, on the improvemente now or hereatter oa ssid premises and except whea psyment tor all auch pre~uums hes theretofore ~eea made under (s of paragrsph 8 hereof ~e ~viU pay promptly when hs due any premiums thorefor. All inauranoe ahall be carri in oomPanies aPProve~ by I?io~ and the poli- cies and renewale thereoi s6all be held by Mortgagee and have attached thereto loes payable ausee in favor of and in form soceptable to the Motgagee. In event oi loss he will give immediate notioe by mail to Mortgagee, and Mortgagee may make proofrof Ioas if not msde pmmptlp by Mortgagor~ and each inauranoe oompany ooncemed is hereby~ authorized snd directed to mske payment for auch loes directly to Mo~~q~ inatead of to Mortgagor snd Mortgagee joint~y, and the inaurance pmceeds, or any part thereof, msy be spptied by Mor~ ~e~gee st its option either to the reduction of the indebtedness hereby eecured or to the restoratwn or repsir of tLe property dsma~ed In event of foreclosnre of tbi,a mortgage or other ~ster of title to the mortgsged property in eztingwshment oi the indebtedneee eecured hereby, a~l right, title~ and interest ot tLe Mortgagor m snd to any ~naurance policies then in lorce shall pASS to tLe pum~sser or grantee. 8. If the prnmises, or anr part tLereof, be condenined uncier the power of en~inent~ domain, or acquirnd for a public use, tlie dai~~ages awardecl, tlie proceeds [or the taking of, or the consideration for suc•1~ acquisition, to the extent of tLe full amount of tLe remaining unpaid indebtedness secured b~~ this iiiortgage, arn l~ereb~- assigned to the :1~lortgagee, and his I~eirs or a4signs, anci shalY be paid forthwith to said Mortgagce or his ass nee to be applied on account o[ the last. inatunng installments of sucl? indebtedness; provided, lio~e~er, the~lortgagee or his assi~nee, ms~ at his discrntion pa~- direct to the Mortgagor, his heirs or assigns an~ purt~ . or all of sucli awarci; pro~-~ded, t}~at if the loan is guaranteed or insured, the consent of the guarantor or insurer is obtained in advance of said pa~uient_. 9• The Mortgagee may, at any time pending a suit upon this mortgage, apply to the oourt having jurisdiction thereof for the appointment of a reoeiver~ and such court aball forthwith appoint a receiver of the premises oovered her~by all arid eingular, including all and singular the inoome, proSte, iasues, and revenues from whstever aource derived~ each and every of which, it being expressly understood~ is hereby mortgaged sa if apecifically eet forth snd deecribed in the granting and habendum clauses hereof. Such appointment ahall be made by such oourt as an admitted , equity and s matter of absolute right to said Mortgagee, and without reference to the adequacy or inadequacy of ~ the value of the property mortgaged or to the eolvency or insolvency of said Mortg,agor or ttie defendants. 3uch - ~ rents, profits. inoome~ isaues, and revenuee shall be applied by such reaeiver ~ng to the lie~n of this'mortgage and the practice of such court. In the event of any default on the part of the Mort~agor hereunder~ the Mortgagor , agrees to pay to t6e Mortgagee on demand sa a reaeonable mont~ly rental for the premiees an amount at least ~ equivalent to one-twetfth (~s) of the aggregate of the twelve monthly installments psyable in the then current year plus the actual amount of the annual taxes, aseessmenta, water rates, and insnr~?nce premiums for auch year not oovered by the aforesaid monthly psymenta. tU.In the event of-auy breach of this mortgage or default on the part of the Mort~gagor; or in the event that any of said sums of money 6erein refetred to be not promptly and fully paid according to the tenor hereof, or in the event that each and every the st.ipulations, agreementa~ conditions, and oovenants of said note and this mort$age~ are not duly, promptly, and fully pedormed; then in either or any such event~ the said aggregate 8um mentioned in said note then remaining unpaid, with interest accrued to that time~ and all moneys eecured hereby, s6all beoome due and payable forthwith, or thereafter, at the option of said Mortgagee, as fully and oompletely as if all of the said sums of money were origiaally atipulated to be paid on such day, anyt.hing in said note or in this mortgage to the oontrary notwithstanding; sad thereupon or thereafter, at the option of said Mortgagee, 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 may foreclose this mortgage, as to the amount eo declared due and payable, and the said premiees shall be sold to satisfy and pay the same together witH,costs, expenses, and allowances. In c~e of partial foreclosure of t6is mortgage, the mortgaged premiges shall be eold subject ~o the continuing lien of this mortgage for the amount of the debt not then due and unpaid. In snch caee the provisions of this paragraph may again be availed of thereafter from time to time by the Mortgagee. 11. No waiver of any oovenant herein or of the obligation secured hereby shall at any time thereafter be held to be a waiver of the terms Lereof or of the note eecured hereby. 12. The lien of this inatrument ehall remain in full force and eSect during any postponement or extenaion of the time of payment of the indebtednees or any part thereof eecured 6ereby. 13. If t6e Mortgagor default in eny of the covenante or agreEmente contained herein, or in eaid note, then the Mortgagee may perform the same~ and all expenditures (including reaeonable attorney's fees) made by the MottgaAe,e in so doing shall draw interest at the rate provided for in the principal indebtedness, and shall be rnpa~ able thirty (30) da~s atter demand~ and, together wit,h interest and costs accrued thereon, shall be secured by this mortgage. 14. Upon the request of the Mortgagee the Mortgagor shall execute and del=ver a supplemental note or notes for the sum or sums advanced by tbe tilortgagee for the alteration, modernization, improvement, main- tenance, or repair of said premises, for taxes or a~~essments against the same and for eny otlier purpose sutl~or- ized hereunder. Said note or not,es shall be secured hereby on a parity with and as tully as if the advance evidenced thereby were included in the note 6rst described above. Said sapplemental note or notes shall bear interest at the rste provided for in the principal indebtedness and aheU be payable in a~ pproximately equal monthly payments for such period as may be agreed upon by the creditor snd debtor. Fail"u~ to agree on the maturity, the whole of the sum or sums so advsnced shall be due and pa~able thirty (30) days after demand by the creditor. In no event shall the maturity extend beyond the ultimate ciaturity of tl~e note first described sbove. BOOK 2O~ PAGf ~U~~ _ . - -