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Home My WebLink About0228 tender tu the ~lU~[E;t1~P(` 1(1 NCCUC(~8(I('P K'tt~t ItIP NTl)~'l~lU11S Oj 111P llOlP 5k'l'UfPll !!i'1't'U~ , ~uu }~a~ nn-ua enti~e indebtedness representcd thernb~•, the Mor}~agee, x9, ry~lre, ,I~all, in co~n~~utii~k the aniount o( surh x indebtedness, credit to the account of t~ie Aloi't eROr sn~• cce~ Sl t~ulence reu~ainin~; wul~~r the pro~•isions of (u) o( ssid parsgraFh 2. If there shall be s delsu~l under an~• of the prorisioris oi this tiiortga~e r~sulting in ~l public sate ot th4 premises ~oti•erPd }iPrPb~-, or if the ~ortgagN~ acquires U~e pro}x~rt~• otherw•~se after ~Ir.fault, the Mortgagee, as truatee, ahsll apply, at the tu~~e of the couimenceu?ent a( surh proceNdin~ or at Ilie tiiu~~ tlie propert~• is otherwise srquired, the ~::nount then reuiainin~ to credit of \iortga~;or under (a) of paraKraph 2 preceding as a credit on the interest accrued and unpaid and tF'e balan~e to tl~e principal then re~nainin~; u~ipAUi on said note. 4. He will pay all tauee. aaeeee~aenta~ w~?tsr ratea, aud other governmental or municipal chargee~ fines, or impositione, for which provision has not been made hereinbetore~ und in default thereof the Mottgagee msy pay the ~ aame; snd t6st Ae will promptly deliver t,~e o~ci4l reoeipte therefor to the bl~rtg,sgea. ~ b. He will permit~ oommit, or su8er no waste~ impairanent~ or deterioration of eaid property or any part t~ereoi~ , e~ccept reaeonable wear and tear; ~?nd in the event of the fsilure of the Mortgsgor to keep tM~ buildinga on eaid ; prem~ses and those to be erected on aaid premisea, or improvementa thereon, in good repair, the Mortgagee may malce auch repairs aa in its diacretion it msy dee~i aeoeeeary for the proper preeervation thereof~ and the tull amount ~ of each and every euch payment ahaU be dne and pqyable thirty (30) dsye after demand, and ahall be eecured by the lien of thia mortgage. 6. He will pay all aad aingular t6e oosta. and ezpecwee, including reaeonsble lawyer's feee, and ooete of abstr~cts of Litle~ incun~ed or paid at any time by~~ortgagee becauee of the failure on the part of the Mortgagor promptly and fuAy to perform the agreements and oovenanta of aaid promieeory note and thia mortgage~ and eaid ooats, charges, and e~cpensea shall be immediately due and pe?ysble and sball be eecue+ed by the ken of tbia mortgage. 7. He will oontinuoualy meintsin hszard inaursnce, of such type or typea snd amount8 as Mortgagee msy from time to time require, on the impmvemente now or hereatter on said premises and eacept when payment tor all such pretniums hae theretofore been made under (s of psragrsph 2 hereoi the will pay promptly when ~ due any premiums thorefor, All insurance ahall be carri~ in oompsniee spprove~ by l~iortgagee and the poli- ~ ciea and renewala thereof shall be held by Mortgagee and have attached thereto loes payable cfausee in favor of and in form acceptable Go the Mortgagee. In event of la9s he will give immediste notioe by mail to Mortgagee, ? snd tilortgagee may make prooi of Ioss if not made pmmptly by Mortgagor, and each insuranoe ~oompanp ~ ooncerned is hereby~ authorized and di~ected to mske payment for such loea directly to Mort~a~ee inst~ead of to Mortgagor and Mortgagee jointly~ and the inaurance proc~eeds. or anp patt thereof, may be app7ied by Mor~ gagee at ita option either to the reiiuction oi the indebtedness hereby secured or to the restorataon or repair of the property dame~ed. In event oi foreclosure of this mortgage or other transfer oi title to the mortgaged pmperty in extinguishment of the indebtednesB eecured hereby, a~ right, title, snd interest oi the Mortgagor m and to any insurance policies then in force shall pASa to the purchasar or grantee. , 8. If the prnmis~~s, or an~• parl thereof. tr~ ~o~iclc~+~~necl und~r ihe poH•er of eminent domain, or a~quimd for a public use, t)ic~ cian?ages aw•erde~l, the proceeds for the taking of, or the consideration for suc•L acquisition, tc? the extent o( the full amount of th~~ remaining unpaid indebtedncss secured b~• this mortga~e, are hcrcb~- assi~ned to the ltortgagee, und his hei~s or assigns, and shali be paid iorthK•ith to said 1lortgage•~ or hiti assignee to 1~ applied on sccount of the last uiaturinR i~~stallments of sucL indebtedness; pro~ i~ie~i, howc~~-er, the ~tortga{;ee or his assignee, n?a~• at his discrelion pa~- direct to thP ~'Iortga~;or, his heirs or assigus an~ pe~rt. or all of such awarcl; pro~ided, that if the loan is ~uaranteed or insured, the consent o[ 1he guarantor or inswer is obtained in ad~ance of said pa~•n?ent. s 9- The Mort ma at an time ndi a suit u n this mo ~ B~ Y~ Y Pe ~6 Po rt6~. sPP1Y ~~e oourt hs?viQB juriediction. thereof far the appointment of a receiver, and such caurt a6all forthwith appoint a receiver of the premises covered her~by al! arid aingular, including all and singular, the income, pro6ts, iasues, and revenuea from whatever source ~ derived, each aad every of whic6, it being expressly understood, ia hereby mortgaged as if apecificaliy eet forth and ~ described in the granting and habendum clausea hereof. 8uch appointment shall be made by such court as sa sdmitted equity and a matter of absolute right to s~id Mortgagee, and without reference to the adequacy or inadequacy of the value of the property mortg,aged or to the ~oivency or ineolvency of said Mortgagor or t~e defendants. Such rents, profits, income, issues, and revenues ahall be applied by such receiver acoording to the Gen of ttus mortgage and the practice of such court. In the event of any default on the part of the Mortgagor hereunder, the Mortgagor sgrees to pay to Lhe Mortgagee oa demand as a reasonable monthly rental for the premises an amount at least equivalent to one-twelfth of the aggregate of the twelve monthly installmenta payable in the then curcent year plus the actuel amount of the a~ual taues, a~xsmente, water rates, and insurance premiums for such year not covered by the aforesaid monthly paymenta. 10. In the event of any breach of this mortgage or default on the part of t6e Mortgagor, or in the event that any of said sums of money herein referred to be not promptly and fully paid according to the teuor hereof~ or in the event that each and every the atipulations, agreements, conditions, and covenants of said note and this mortgage~ are not duly, promptly~ 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~ and sll moneys secured hereby, shall become due and payable forthaith, or themafter, at the option of said 113ortgagee. as fully and completely ag if all of the said sums of mone~• were originally atipulated to be paid on such da~, an~thing in said note or in t6is mortgage to the contrary notwithstanding; and t6ereupon or thernafter, at the option of said Martgagee, without notice or demand~ suit at law or in equity, may be prosecvted as if a11 moneys secured hereby bad matured prior to its institu- ; tion. The liortgagee may foreclose this mortgage, as to the amount so declared due and payable, and the said - premisea ahall be sold to satisfy and pay the same together with costs, expenses~ and eltowances. In case of partial foteclosure of this mortgage~ the mortgaged premises ahall be aold subject to the oontinuing lien of this mortgage for the amount of the debt not Lhen due and unpaid. In such case the provisiona of thia paragraph may again be availed of thereafter from time to time by the 1lortgagee. 11. No waiver of any oovenant herein or of the obligation secured hereby shall at an~ time thernafter be held to be a waiver of the terms hereof or of the note eecured hereby. 1''. The lien oE this instrument ahall remain in full force and effect during any poatponement or extenaion of the time of payment of the indebtedness or say part thereof eecured hereby. , I:t. If t6e Mortgagor default in any of the covenante or sgreemente contained herein, or in aaid note~ then the ~ Mortgagee may pedorm the same, and aU expenditures (including reseonable attorney'e fees) made by the MortgaAee ~ in so doinR shell draw interest at the rate pro~•i~1ed for in the principal indebtedncss, and shall be repa~•able thirt~ (30) da~•s after demand, anJ, together with inter~~t and costs accraed thereon, shali be securecl Ly this mortgage. 14. L'pon the request of the Mortgagce tbe Atortgegor shall ea~ecute and deliver a supplemental note or notes for the sum or sums ad.anced by the ~iortgagee for the alteration, modcrnization, impro~emcnt, main- tenance, or repair ot said premises, for ta~es or as,ecssment~ against the samc and for en~• othcr purposc ai~tl~or- ized hereunder. Said note or notes sl~ell be secured hereb~ on a parity with and as fulty as if the advance e~ idenced thereby were included in the note firsi described abo~e. Said supplemental note or notes shall bear interest st the rate pro~ ided for in the principal indebtedness and shall be p~yable in ap proximatel~ equal monthly pa~•ments for such period as may be agreed upon by the creditor and debtor. Fail"uig to agree on thc mnturity, t~?e W hole of ihe sum or sums so ad~ anced shuli be due and pa~-abie thirt~ (30) days attcr demand by the creditor. In no eveni shalt the maturity extend beyond the ultimate r_~aturity of t6e note first described ebove. BOOK~Oe~ PACi 228 - 3 .s~~y a.:.- ~ ~ ~ ~~.s:.:'°.~,'^'c^"'° ;u~-;" a~~ . r-'r' - - ~ ~ ~M~ _ . . . . y ~ _ . ~x..~i,~a . a _ _ ~ ~ ,