The URL can be used to link to this page

Home My WebLink About1962 To p~ace and conNnuously keep on the bu~:d~ngs no~nr or herraite~ s~tuate on sa~d tand an~ on a!I eq.,~pmem and per3onally covered by ~his mor ege, wiih all prem~vms thereon pa d m fuli, Lra ins~ranc~ in ihe us~al sta~~da~d po~~cy fo:m, in a s~m aHNra+ed by the MUR~GaGEE, a~~d w~ndsto ~nwrance in ~he usual et~~~.f~~d Po:,cy io+m, in a sum appro~ed by thr A10RTGAGEE, in such company o~ co:npan~es as ~he MORiGAGEE m dnec~; and aU firz a~:d w~nJstorm inswanca potrc~rs on any o( sa~d build~ngs, any in~erest the~ein or part thcreof, in the aggr~gare w~n aforesa~d in eaceas Ihetcof, stiaU tonr~~n the usunl s+.~~~d~rd mor~9agee tlause w such other tlavse as the Mortyayee may reyu~re, meking tha icss unJe~ sr~d po :~es, each and eve~y, pa~ab'e to said h10RTGAGEE as ~ts intarasf may appear, and each and every iucn po:~cy s~~.+ll be promNtty assg~~rd a~~d deth;a~rd ; any held by se~d h1QRIGAGiE as funher s~writy to said n,or~gage deb~, and, not less ~han ten (30) da~s in adra~,ce af ~he eapirat~on of each po~~cy, to d~ l~ver to sa~d 1AORiGAG~E a renewal thereof, toge~her with a receipt for the p~em~um o1 such ~enerv~l: and Mrre shatl be no i~re o~ wi~~ti:to~m irs~ranc plated on any ol sa:d b~ild~n9s, any i~ite~est there+n or part the~eof, unless in th! form and wi:h Ihe loss payab~e as atoresaid; and in the eveM any sun of mo~ey beco~nes payable ~ndrr wch pol~cy or poircies sa~d MOR~GAGEE sh~ll have rhe option lo reca~~e .and apN:y iha same on accou~~t o( the indebt~d t ness srcured harcby or to pe~nut sa~d IAORTGAGORS to retaive and use it a any part the:eof icr o:~~•.r ~.ur;.;;s~s, ~;~~:e il~:•~.,i ~'t~P~~' i ing any equ~ty, I~en or righl under a by virtue o1 Ihis mc:'gage; and in the event satd MORTGAGORS sh_>II .`or any reason fail to keep the sa~d premis~s so ~ns~nd, or fail to deliver pro+nptly any of ssid pol~ues of insuran~e fo sa~d MORTGAGEE, or fod p:omptly to pay f~~ty any pre~n~~m therrfw or in any ~ resped fail to perform, d~scharye, execute, effect, co~nplerr, co:nply wi~h and abide by this coven~nt, or any part h~reoi, se~d MuRTGAGEE ~nay p.ace a~o i psy for such inwr.,nce or any part !hereof .v~~hout waiving or affecting any option, lien, equ~ry, or ri~ht under w by vi,r~e of ~his Mottgage, and thc '~!I amo~m of each and e~ery such pay~nent shall be {m~nediately due and payabte and shall brar interest from tha data thereof w~til p~~d at the rate ot } n.ne pr~ tcnt~+n pe~ an~w:n ond :o}rthcr r.i~h such interest shali be sccuted by fhe lien of thil mortgage• > 4. To permit, commit or suffer no waste, impairment o~ deterioration of said property or any part thereof. 5. To pay all and singular the costs, chargea and expenses, ~ncluding a reasonable atiorney's fee and costs of abst~acts oi title, incur~ed or pa~d at any ti~ce by sa~d htORTGAG:E, because or in the evero of the fa~lure on ~he part of the said MORiGAG~R to duly, promptly and fu~ly pei{orm, d~scharge. axcc~re, effMt, complete, co•nply w~th and ab:de by each and every the stipu~auons, agreements, cond~hons, and covenanrs of sa~d pro~nissory note and +h~s :nortgage any or e~~her, and sa:d costs, charges and eapenses, each and every, shall be immediate?y due and payab:e; whether or not ~here be not~ce d~ mand, attempt ro tollect or suit pend~ng; and the (ull amouN of each and every svch paymem shall bear imeres~ from 7he date therraf until paid a1 the ~,.rr o~ nine per crn:u~n F~~~r an~~u:~~; cn~ afl said tosts, tharges ar:d ex;xnses inc~rred or pa~d, together wah wch interest, shall bo sxu~ed by tiw lien of thit mortgage. 6. That (a) in the event of any breach of th~s Mortgage or default on the part of the MORTGAGOR, or ~b) in the event any of sa'd sums of money ~ herein referrad to be not p~o~npily ar~d fully paid wi~hin thuty t30) days ne~~ ar~er ihe same severa:ty become due and payable, without demand o~ nonce. tc) in thr evero each and every the stipu:anons, agreements, condrtio~s and covenants of sa.d promissory no~r ard th~s mortgage any or either are no1 i~ty, promptly and iulty perfonned, d.s.harged, executed. elfected, compteted, compl~ed with and ab~ded Sy, ~hen in either or any such eveM the sa~d ag ~~cgate svm ment+oned in said p~omissory note then remaining unpa~d, with inrerest accrued, and a~l monrys secured herebv, shall become due and pay ao e forthwith, or thereafter, at ~he opt~on of said AtiORTGAGEE, ,ts fully and complefely as if a11 of the sa~d sums of money were onginally at~pu:ated to be pa;d on such d:.y, anyth~ng.u~ sa:d prom~ssc~y note or in this Mortgege to the cororary no~withstand~ng; and thereupon or therealter at the op~~on of s~:d MORTGAGEE, wi~hout ~once o~ demand, suit at law or in equity, therefore or thereaiter begun, may be prosecuted as if all moneys secured hereby c_d mat~red pnor to ~ts institut~on. 7. That in the event that at the beginn~ng of w at any time pending any suit upon this Mortgage, w to fweclose it, or to reform it, o~ to enforce nayment of any tia~ms hereundcr, said hiORTGAGEE shatl apply fo the Court having jurisd;c~~on thereot for the appoimment of a Receiver, such Cuurt shall Fc~thw~rh appo~nt a~eceive~ of said mortgaged pro~erty all and s~ngular, incl~d~ng atI and singular tl~e income, profrts, iswes and revenues irom whatever s,:,rce derived, each and every of wh~ch, it being express~y understood, is hereby mortgaged as if spec~tica!!y set forth and described in the graming and h~1,e~dum dauses Fwrcof, and such Receiver shall have all the broad ano effective funct,ons and powers in any~v~se entrusted by a Court to a Receiver, and s.ch appointment shall be made by suth Courl as an admitted equity and a matter of absolute r~ght to said MORTGAGEE, artd wishcut refcrence to the a~iey;,scy or inadeq~acy oF the value of the property mortgaged or to the so.ver.cy or insuiventy of sa~d MORiGAGOR or the delendants, and that such r,~•~rs, profirs, income, issves and revenues shall be applied by such Receiver accord~ng to the lien or rquity of said MORTGAGEE and the practice of such Court. 8. To du!y, promptly and fully pe~fonn, d~scharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements, tunditions and tovenants +n sa~d pru:nissory nute ar.d this mortgage set forth. - ' 3 9. That in the event the owncrship oi the mortgaged premises, or any part thereof, becomes vested i~ a person other than the MORTGAGOR, the ? ':.ORTGAGEE, its svccessors and ass~gns. may, wrthout notice to +he MORTGAOR, deal wirh such successor or svccessor in interest wi~h reference to this ~,.o•+gage and rhe deb~ hereby secured in the same maoner as with Mortgagor without in any way vitlating or d~scharg~ng the ldortgagors' liability here- ~•rder or upon the drbt hereby secwed. No sale of the Frem~ses hereby mortgaged and no forbearan~e on ~he part of the /AORTGAGfE or its s~ccessors o~ ass~gns and no exrensio~ of the ri~ne ior the payment of the debt hereby secu~ed given by the MORTGAG£E or its svccessws or ass~gns, ahail operate ro re~ease, d~scharge, modify cF,ange or afFect the orig;nal Iiab~Irty of the MORIGAGOR herein, e:ther in whole or in part. 10_ It is spec~Fically agreed that time is oi the essence of tn~s contract and that no waiver of any obt~gat~on he~eunder or of the obligation se- cured hereby shali at any time thereafter be heid to be a waiver of the terms hereo( or of the instr~ment secured herby. I l. In ~.:id,tic~ to the forego ~ig n~onth!y paym^nts of princ paI and interes! required by the promsscry no!~ sewred hereb~, mortgagor covenants d agrees zortgagee ~~~h each rt~Jnlflly pa~~ :ent an add.~~onal sum est;~cated by mortgagee to be eq~ai to 1, 12 of t:~e annual cost of the fdlow- A-All rcal property taars Irvied or assesse c a ove describe B-Pr:~n~u~ns on ine and wir.dscorm insurar.ce as here~n requ~~ed to be carried on the im~ro s s~t~ate on tne above d_scribed prem~ses. C-Pte~ni:~ms o? such mortg:,ge guaranty ir.surar,te as mortgagee shal) from t[me to time deem fit to carr foan sewred hereby_ Mortgagee sh.,:! frc+n t~~ne to ti~:e nonfy mortgager ~n writ~ng of the amount dve and payable hereundar and such s. hakl thereupon be due and :;,able on the d~e d~Te of the r~ext month:~ payment and eath wccessive month thereafter uctil morfga~ee shall notify mortga a change in such ~ ount. $uch sums si~a:l be app.icJ by mcrigagee tov ard the payment of real property taxe;, insurance prem:ums, and mortgage guaran y-`fnrisap~ j . •r~n~ums. ~ IN l~ITNE55 YJtfEREOF, th ~said ql(OR GAGOR has hereunto set his haad and seal the day and year Eirst aforesaid. E aly~ {~iv red ti Ilie esence of: ~ ~ ~ r a' ~ ~'t"Gf~ ~ se ) f _ r _ Paul R . Welch ~~a~~ ' _ ~t "~.~~L• iYvl.t-c~_ ~ diT' Y,! p!' _ / (Seal) ~ udith K.r elCh ~~aq ~ ~ Si,`,7E OF ~ Georgia ~ SS. COUNTY Of Gl~n i e~fa~ m; m,, ~~a.~d Paul R. Welc h a~d _ JL~~~K-n-f; ~I~6~Ch his wife, to me well known and known ro me to be rhe individuati des¢+bed•i:1~an6,who executed the foregoing instrument, and acknowledged before me that they executed the same for the purposes therein expressed. _ Md the' se~ ' J~lth K• Welch .:~fe o~ the aa~d Pe~ll ~ R.~ Weleh upon a sepa.ate and private - ~ -_xaminat~on by me taken seperate pnd apart from her said husband, acknowiedged to and befwe me that she execused said instrument freely and volun- ~ ~a; ~iy and witho~t any compulsion: constraint, apprehens~on, fear of or from her said husband. ~ WITNESS my hand ~d off;c;al seai this_ ~ day of J~ ~ -A: D. 191~ ~ % _ Notary Pu ii n and the State of 7~f~j.arge My Com sion ires: r~ - ~ Retum To: . ~73 ~ Georgia~ ~G i First federal Savings 3 loan Associahon ~ Of Fort P e:~e. ri Fo~t Pl~~rce, Fic~ d.a f{LEO ANU ~EaOROE ~ ~ iT. A~ER ~~qAS ~ ~ . CLERK Ci ~f EO ~OURT 11ECOR0 vf P ~ This Instrument Prepared By• JOhn W. COllitls First Federal Savings & loan Association 10 ZI~ ~ of Fort Piercef Florida 33450 ~ ~ Checked BY ~ - 234221 ~ ~R ~ ao~ 204 ~196i ~ - , 4~ _ : t.~~ - ~ ~ 4 _ N~<~ _ _ _