HomeMy WebLinkAbout0919 tender to thP \lurtKuge~~ in a~•~~ordanr~~ w•ith th~~ pn~~•isiuns of tlu~ nut~~ .~~~•ur~~~l h~~r~•b~-, full pa~•nu~i~t ~?f th~•
entirc ind~bted~~ess repr~~~~~nt~~~l thereb~, the I~4ort~;e~gee, as trust~~~~. .hull, in ~•oniputii~~ th~~ :?uu~ui~~ of su~•li
indebtedness, cre~lit to th~~ a~•euunt of t~~e'4i~~rt akor an~ crn~lil l,alnn~•e~ r~~nuiiniii~? und~•r th~~ p~Y~~~i,iuus of 1+?)
of said peragraph 2. It tl~er~~ sl?eli be x d~~fau~t under an~• of tlu~ pm~•isions of thi, ini?rtku~?~~ m;ul~in~? in :i
public sale o( the pre~nis~~~ c•overt•d h~•reb~-, or if thc :14ortKag~~e acyuirns tl~t• pm~H~rt~• otlu~r~~~is~~ nh~•r +I~~fault,
the I~tort~agee, as trusire, shall appl~•, at the tiine ot tli~ i•u~iimem•~~mcnt of su~•li pruc•~~~~~lin~;~ ~?r ut th~~ tinu~
the propertr i.g otherwise u~•yuircd, the an?ount th~~n rninaininK to ~•ri•~iit of \lortKakor u~?~l~•r (u) ~?f ~?aru~:raph
prncedin~ as a c~redit on th~ int~~rnst accrued and unpsid a~?d th~~ t~alan~•c• to th~• princ•ipel th~~m m~~tii~iin~; unpui~l
on sai~i note.
4. He ~ll pay all taxea. ase~sments~ water ratee~ snd other governmental or municipsl charges, finea, or
impoeitiona, for which provision has not been made hereinbefore~ and in default thereof the Mortgagee may pay the
same; and that he will pmmptly deliver the o~cisl receipt~+ therefor to the 1~Iortgagee.
5. He will permit~ oommit~ or sutfer no weate~ impairment, or deterioration of said praperty or any part t6ereof~
eaccept reasonable wear and tear; and in the event of the faelure of the Mortgagor to lccep the buildings on eaid
premises and thoae to be erected on said premises, or improvementa t6ereon, in good rnpair, the Mortgagee may .
make auch repaira sa in its discretion it may deem neceaeary for the proper pre~ervation thereof~ and the full amount
of each and every auch payment ahall be due and payable thirty (30) daye after demand~ and e6all be eecured by
the lien of thia mortgage.
6. He will pay all and aingiilar the costa~ charges~ and expenses~ including masonable lswyer's feea, an~ costa
of abstr~cta of title, incurred or paid at any time by the l~iort.gagee because of the failure on the part of the Mortgagor
promptlv and fully to perform the agreements and covenants of said promissory note and this mortgage~ and said
coeta, charges, and expenses shq11 be immediately due $nd payable and shall be eecured by the lien of t6is mortgage.
7. He will oontinuously maintain hazard insurance, of such type or types and amounts as Mortgagee may
irom time to time require, on the impmvements now or hereafter on said premises~ and e~cept when payment
for all such premiums has theretofore been made under (a) oi paragraph 2 hereof~ he ~cill pay promptlv K•hen
due any premiums therefor. All insurance shall be carried in compawes approved by Dlortgagee and t~e poli-
cies and rene~als thereof shall be held by ;1rlortgagee and have attached thereto loss pa~ able clauses in favor of
and in form acceptable to the l~iortga~ee. In event of loss he will give immediate notice by msil to riortgagee,
and ~lortgagee me?y make proof of ioss if not made promptly by Mortgagor, and each insurance company
concerned is hereby suthorized and directed to make payment for such loss directl~• Lo Asortga~;ee instead of
to ~lortgagor and :~4ortgagee jointly, and t6e insurance proceeds, or any part thereof, may be applied by I11or~
gagee at its option eit6er to the reduction of Lhe indebtedness hereby secured or to t6e resturation or repair of
the property dama~ed. In event of foreclosure of this mortgage, or other transfer oi title to the mortgaged
property in ext.inguishment of the indebtedness secured hereby, all right, title, and interest of the ~sortgagor
in and to any insurance policies then in force shall pass to the purchaser or grantee.
S. 1f th~~ pr~~~i~is~w, or an~- part th~•r~~of. L~• ~•ond~•nnu~~l un~l~•r th~~ po~~•~~r of ~n~inent do~uuin. ~~r a~•yuir~~~l fur
a public us~•. ihc~ ~lunu~~:i•s a~c~ir~l~~~i, th~~ proc•~•~~~1~ for tli~ tukin~?of, or th~• considrratinn for:u~•h a~•yuisiti~in, tu
thc~ ~~xtent of th~~ full uiuotjnt of th~• r~nuiinink «t~p~~i~1 in~l~t,t~~~ln~~., s~~c~urn~l b~- thi. iuort~;a~?~~. ,u•i~ lu~r~•h~-
us.i~?nt~~1 to th~~ ~Ic?rt~H~~~~~. uu~l his lu~it~ or acsigns. iu?~I sl~all b~~ pai~l forth~~-ith to ~uiii \1ort~u;.~~~~• ~?r !?i:
assi~:ne~~ to b~• appli~~~l on ac~~•ount o( the• lu,t ~i?aturin~ in~txll~ut~uts of suc•h ind~bt~~dne~..: pro~-i~lt~ei, h~n~-~~~-~~r,
ihe~ ~iort~:a~~~~~ or his a~~iKn~~~~, ~i~a~- ut hi3 dis~~r~•ti~?n pu~~ ~lir~~~•t to thr ~fort~iikor. lii, lu~i~~ ~~r u,si~?us at?~• purt
or ull ~?f :u~•h u~cAr~l; pro~•i~lt~~l. thut if th~• l~?:~n is ~;u.ir:~ntw~d m• insurnd. th~~ c~on.~~nt of th~• ~;u:u•i~utor ~~r in,un•r
is ohtuin~~~l in u~l~•an<r of .~id pt~~-iu~•nt.
The liortgagee may~ at any time pending a suit upon this mortgage, apply to the court ha~-ing jurisdiction
thereof for the appointment of a receiver, and suc6 court shall forthwith appoint a receiver of the pmmises covered
hereby all and singular, including all and singular the income, pmfits, issues, and revenues from whate~~er source
derived, each and e~ery of which, it being expmssly understood, is hereby mortgaged as if specificall~ set forth and
described in the granting and habendum clauses hereof. Such appointment shall be made by such court as an admitted
equity and a mstter of absolute right to said 11~ortgagee, and without reference to the adequacy or inacicquac~• of
the ~alue of the property mortgaged or to the solvenc~~ or insolvency of said 1liortgagor or t~e defendants. Such
' rents, pro6ts, income, issues, and revenues shall be applied b~• such receiver acconling to the lien of this mortgage
'f and the practice of such court. In the event of any defauit on the part of the liortgagor hemunder, the :1'Iortgagor
agrees to pay to the ~lortgagee on demani~ as a masonable monthl~~ rental for the pmmises an amount at least
equivalent to one-twelft.h (lS2) of the aggmgate of the taelve monthly installments pa~•able in the then current
year ptus the actual amount of the annusl taxes, assessmenta, water rates, and insurance premiums for such y~ear
not co~ered by the aforesaic3 monthly paS•ment9.
1~)_ In the event of any breach of this mortgage or default on the part of the Afortgagor, or in the e~~ent that
any of said sums of mone~• herein referred to be not. promptl~• and full~ paid according to the tenor hereof, or in the
event that each and every the stipulations, agreemcnts, conditions, and corenaots of said note and this mortgage,
are not duly, promptly, and fully performed; then in either or an}• such event, the said a~reRate sum mentioned
in said note then remaining unpaid, aith interest accrued to that time, and all mone}•s secumd hereb~•, sLall become
due and pa~•able forthwith, or themafter, at the option of said 1~ortgagee, as fulh~ and completeh• as if all of the
said sums of mone~• aere originall~~ stipulateci to bc> paid on such da~•, an~•thing in said note or in this mortgage to
the contran~ notwithstanding; and thereupon or theresfter, at the option of ssid \tortgagec, ~ithout notice or
demand, suit at law- or in equitp, ma~• be prosecuted as if all mone~•s secured hereb~~ had maturcd prior t~ it~ institu-
tion. The ~lortgaRee ma~• foreclose this mortRaRe, as to the amount so declared due and pa~•able, nnd the said
premises shall be sold to satisf~• and pa~• the slme together a-ith costs, expenses, and ~Ilon~ances. In case uf partial
fomclosure of this mortgage, the mortgaged pmmises shall be sold subject to the continuing lien of this mortgage
for the amount of the debt not then due and unpaid. In such ca.Se the pro~•isions of this paragraph ma}~ again be
availed of themafter from time to time b~• the ~fortgagee.
11. No waiver of any covenant 6erein or of the ohligation ~cure~d hc•r~l,~• .hall at an}• tim~ thereaftcr t,e held
to be a~saiver of the terms hereof or of the note secured hembv.
~ The lien of this instrument shall mmain in full force and effcct during an~• post~n~ment or e~tension of
the time of pa~•ment of t6e indebtedness or an~• p:?rG thereof secured hereb~•.
1:i. If the Aiortgagor default in any of the co~enants or aRreements contained hercin, or in said note, then the
biortgagee may perform the same, and all expenditures (inchiding reasonablc attomc}•'s fec~) made b~~ the :~IortRaqee
in so doinK ~hal1 draw• int~•r~st at t}~e rnte pr~?ri~l~~~l f~~r in th~~ T~rin~•ipal in~l~~ht~dn~~ss, an~l ~hall h~ r~•pa~-ahle
thirt~- (30) ~la~-s aft~r ~l~•mand, arnl, to~;~•t}i~r ~~-itl? inter~•,t au~! ~~osts a~~rru~•u ther~~n, st?all bc .~~curcd b~-
t6is mortgage.
1~_ l'pon the request of the ~Iort~;a~ce the ~1ort~:a~;or shall e~c~cute an~l d~•li~er a.upplc'illf•I1tNL ?OtP or
not~~: for the cum or sums ad.-an~•~~~1 b~• the ~[ort~:a~;t~~ for the~ alteration. rnode~rnization. impro~•~•nu~nt. main-
t~~~ianc~~, or repair of said premis~~~, for taxi~~ or as-~~~sm~~nts a~;ainst the Sfllli~~ fln~l f~?r aa~- ~th~•r piir~?~~:~~ auth~~r-
iz~~~ hereund~~r. ~ai~l note or notes shell be secure~l hereb~• on a parit~- «-ith and as [ull~~ ~~s ii tLe ad~-ance
e~-id~~nced thereU~• ~~-ere inclu~l~d in the note first described abo~•e. ~ai,l si~ppl~~inemtal not~• or not~~s ~l~all bcar
interest at t6e rate pro~•ided !or in the principal indebtedness and shall be pa~•ablt~ in appra~imat~~h- ~~~ual
monthl~- pa~-m~nts for such period as ma~- be a~;ree~d upon b~• the cre~litor an~t debtor. ~ silin#~ to a~?r~•~~ on th~•
maturit~•. th~ ~chole o[ tl?e sum ~r ctuns ~o a~l~-an~•~~~1 sh~ill bc~ ~lue an~l pn~-ahl~~ thirt~• (:i(1) ~In~-. aft~~r ~l~~n„u~~l
b~ the cr~~ditor. It~ no e~•ent shall the maturit~- extetid ~c~-ou~1 the ultituat~~ r.~uturit~- uf ~6~~ n~~t~~ tirnt
described abo~ e.
~ aoRK ~~acE ~~.y
~
~ _ ~
_ ~ _ , . _ . ~