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Home My WebLink About2234 ten~ler to the ~lurtge?gee in a~•cotciarte~e w•tth tltr {~ovt~wus of the ~?ot~ +<<•ur~~l ~u•i~t?~, iun p~?~u~rnt o~ tn~• Nntire indebteduess represeute~i.tiiergj?~•,.t~~e ~forigpget'+ ~ trusl~~t•. ~1?aU. in ~•otii~?utii?~ tli~• ein~uunt o[ su~•I~ indehtednt~ss~ credit to tlie account of tl?e ~lortgagor an~• crcKiit bulu~u•e rru~ainin~; ~uul~~r tiu~ prn~•i~i~n?c of l,~) of seid paragraph 2. 1( there sl~all be a default under an~• o[ the pro~•i~ions o( tl~is niartKu~?~~ rrsulti~~~; in public ssle o( tlie premi~es covernd I~ereb~•, or i~ tlie Alortgagre acqwres th~ pru}x~rt~• other~~•~sr aft~~r ~lefautt, t}ie ~lorigagee, ae trustee, s!?all appl~•, at the tu~ie of the conuuencement of such pm~•r~~~lin~,?~ or ut th~~ tinu• the propert~• is otherw•ise a~•yuired, thP amount then rnniainin~ to cn~lit oi \lortKagor un~l~~r (a) of pur:ikrxpl~ 2 preceding as a credtt on th~ interest accrued anc~ unpaid ac?d the batam~e to !he prim~ipal then r~~nu~ii?i~?k unp~u~l on said notP. 4. He wiU psy all tsxee, e~easmente, wster ratee. and other ~overnmental or municipal chargee~ finea, or ~ impoeitione, for whieh proviaion hsa not been made hereinbefore, snd in defeult thereof the Mortgagee may pay the ~ eame; and that he will promptly deliver the official reoeipte therefor to tbe I4lortgagee. ' ~ b. He will permit~ oommit, or au8er no waate, impairment, or deterioration of eaid property or any part thereof~ ` eucept reaeonable wear and tear; and in the event of the failure of the hiortgagor to keep the: buildinga on said ; premises and thoee to be ecected on said prem'ieee, or improvemente thenwn, in good repair, the Mortgagee mey = make such repairs aa in ita discretion it may deem neceeesry for the proper preeervation thereof~ and the full amount of each and every euch payment shall be due and psyable thirty (30) days sfter demend, end shaU be eecured by the lien of t6ia mortgage. ' ~ 6. He will pay all and singular the cbete, chargea, and expeneea, including re8sonable lawyer's fees, snd ooete of abstr~cts of title, incurred or paid at any time by the Mortgagee becauee of the failure on the part of the Mortgagor ~ promptly and fuAy to perform the agreements and oovenanta of said promiseory note and thia mortgage~ and said ` ooata, charges, and expensea ahall be iiamediatel~? due and payable and a6all be eecut~ed by the lien of this mortgage. ~ ~r ~ ~ • 7. I~e will oontinua~9ly maintain haaatd inaurance, oi such type or typee and amounte as Mortgagee may from time to time reqwre, on the improvemente now or hereaiter on said premises and e.~cept when payment tor all such premiums hes theretofore been made under (s) of paragraph 2 hereof ~e will pay promptly when due any premiums thcrefor. All insurance shall be carried in companies approve~ by 111ortgagee and the poli- cies and renewals thereof shall be held by Mortgagee and have attached thereto lags payable clausee in favor of and in form acceptable to the Mortgagee. In event of loss he will give immediate notice by mail to Mortgagee, and ~iortgagee may make proof of Ioss if not made promptly by Mortgagor~ and each insurance oompany concerned is hereby authorized and directed to make payment for such losa directly to Mortga~ee instead of to ~iortgagor and 111ortgagee ointly, and the insurance proceeds, or any part thereof, map be applied by Mor~ gagee at ita option either to t~e reduction of the indebtedness hereby secured or to the restoration or repair of the property dama~ed. In event oi forecloaure of this mortgage or otber transfer of title to the mortgaged pmperty in extinguishment of the indebtedness aecured hereby, a~l right, title~ and interest of the 141ortgagor m and to any iasurance policiea then-in force ahall p~ss to the purchaser or grsntee. 8_ If th~ pre~nu~s, or a~?~~ part themof, l~e condetuued under the pow~er of eminent domain, or a~•yuir~~d for a pubiic use, tlie clauiages aH•ardc~d, th~~ proef~~ds for the takin~ of, or the consideratior. for cu~•1~ uc•quis~t~on, to tlie ~•xtent of the full umount of th~ remaining unpaicl indebte~h~c•ss se~ured b~- this mort~;ag~~, nr~• hi~r~~b~- x assi~ned to th~~ \lort~aKee, and his heirs or assigns, and shull be paid forthw•itl? to said ~lortgag~~~• or liis a~igner to Ix~ applieil on ac~~ount of tl~e last uiaturing installu~ents of such indeLtedness; pm~•idrd, I~o~~-~rer~ ~ the ~iorigaKe~ or his nssiKn~e, mar at his discr~tion pa~- clirnct to the ~lortgaRor, his h~irs or u.s,siKnc an~• part or all o( suc'I! RN'AIYI; pm~ ided, that 1~ 1I1P lORil 1S ~UAI'Al1lPP(I OP 1(1Sl1rP(I, the consent o( the gu~rantor or insurc~r i~ obtained in ad~•anc~ of said parment. - ~ y• The Mottgagee may~ at any time pending a suit upon this mortgage~ apply to the oourt having jurisdiction i thereof for the appointment of a receiver, and such court shall forthwith appoint a receiver of the premises covered ; hereby all aud singular~ including al! and singular the income~ pro6ta, iasues, and revenues from whatever source - derived, each and every of whic6, it being expressly understood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clausea hereof. Such appointment shall be made by such oourt ss an admitted equity and a matter of absolute right to said Mortgagee, and without reference to t.he adequacy or inadequacy of the ~ alue of the property mort$nged or to the solvency or insolvency of ssid 11'Iortgagor or the defendants. Such rents~ profits, income, issues, and revenues shall be applied by such receiver according to the lien of this mortgage ; and the practice of such court. In the event of any default on the part of the biortgagor hereunder, the Mortgagor agrees to pay to the 1liortgagee on demand as a rnasonable monthly rental for the premises an amount at least ` ! equivalent to one-twelfth (~/2) of the aggregate of the twelve monthly installments payabte in the then current ' E year plus the actual amount of the annusl taxes, assessments, water rates~ and insurance premiums for such year i not covered by the aforesaid monthly pa~ ments. ~ ` iti. In t6e event of any breach of this mortgage or default on the part of the 1liortgagor, or in the event that 3 ~ any of said sums of money hetein referred to be not promptly and fully paid according to the tenor hereof, or in the ~ € event that each and every the stipulations, agreements, conditions, and co~enants of said note and this mortgage, ~ ~ are not duly, promptly, and fully performed; then in either or any such event, the said aggmgate sum mentioned 3 ~ in said note then remaining unpaid, with interest accrued t4 that time, and all moneS-s secureci hemb~•, shall become ~ ~ due and payable forthwith, or thereafter, at the option of said blortgagee, as fully and completely as if all of the ~ said sums of mone~• were originally stipulated to be paid on ~uch da3, anyLhing in said note or in this mortgage to ~ ¢ the contrary notwithstanding; snd thereupon or themafter. at the option of said biortgagee, w~thout notice or demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby.had matured prior to its institu- _ tion. The ~tortgagee may foreclose this mortgage, as to the amount so declared due and pa~•able, and the said pmmises shall be sold to satisfy and pay the same together with costs, expenses, and allowances. In case of partial fomclosure 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 such csse the provisions of this paragraph may ugain be ~ availed of thereafter from time to time by the 111ortgagee. , ~ 11. No waiver of any covenant 6erein or of the obligatian secured hereb~• shall at any tiane themafter be held ~ to be a waiver of the terms hereof or of the note secured hereby. ~ 1'?_ The lien of this instrument shall remain in full force and efiect during any postponement or extension of ~ the time of payment of the indebtedness or any part thereof secured 6ereby. ; l:i. If the biortgagor default in any of the covenanta or agreements contained herein, or in said note, then the Mortgagee may perform the same, and all expenditures (including ressonable attomey's fees) made by the Mortgagee " in so doin~ shall dra~ interest at the rate proti id~~i for in the prin~ipal incl~bt~dness, and chall t~ repa~•able ~ thirt~ (30) da~s efter demand, and, together witl~ intemst snd costs accrued tl?ereon, shall be secured b~ ~ t6is mortgage. ~ ~ 14. L'pon the request of the ~1ortFagee the ~iortgago* shall e~ecute and dcliver s supplemcntal notc or ~ notes for the sum or sums ad~•anced by the ~tortgagee for the alteration, modernization, improvc~ment, main- ~ tenance, or rnpair of said premises, for taxcs or assessments a~;ainst the sam~• nnd (or e.~~• other purpose aulhor- ~ ized hereunder. Said note or notes shall be secured I~ereb~- on a parity with and as [ully as if the ad~ ance e~•idenced thereb~ r+ere induded in the note first described atw~ e. 5sid supplement,al note or notes sl~all bear interest at the rate pro~ ided for in the principel indebtedness end shall be pa~ able in ap proximatrh• equal monthl} pa~ ments for such period as may be a~;reed upon by Lhe creditor and deLtor. F'ailin~ to agre~ on ~hc ~ maturity, tl~e whole o( the sum or sums so ad~•anced shAll bc due and pa~-able thirt~- (30) da~•s aftcr dcmand " ~ by the creditor. In no event shall the maturit~~ extend be~ond the ultimate r_~aturit}- of tii~• n~te first ~ described abo~ e. a~ 2~~3 ~J 3 46 - . $ ~ ~ _ wY . y ~ W~~S ~ ~i-~w -~2= - . ~