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HomeMy WebLinkAbout0205 6. To pe~y all eu~d singular the costs. rharges. expensea snd attorney'a tees reasonsbly [ncurred or pald st any tlme by the Mortgt~gee because ot any detault as to any stlpulatlon, agreeme~t and covenant ot the note and thls Moriga~e. os either~ or i~ sny suft or proceeding at law or in equity to which the Mortgagee shall be and become a party tn reference to the Mortgagor's Interrst ta the premises herein mortgaged. or in sustalning the lien or prlority of th4 Mori~e; the amounts ot eny such costs, charges. expenaes and tees shall also be deemed s charge and lndebtedness secured heseby and beu Interest st the same rate us the principel indebtedness. T. In the event of a defsult in any oi the coveaanta of thls Mortgage. the Mortgagee b expressly glvea tBe dght. whlch may be exercLxd et any Wne durtng the eacistence oi eu?,y de[sult and so long es a default ahall exist. to Wce posces- sion oi and hold the premisea. with or without pmceas ot iaw. and collect and recetve the rents. lssues and psotits theretmm, with or without taktng possessfon oi the premises. and to apply the renta. l~sues snd prosts to the payment oi expenses, charges and e~mounts due and payable under the pmvisions ot the note and this Mortgage. The Mortg~or assigns and transfera unto the Mortgagee the rents. Issuea and proflts ot the premises tor the purpose uforeaald. The 4k- ing of possession of the premises and the collectlon of the rents by the Mortgeigee shall in no way wslve the dght of the Mortgagee to foreclose thia Mortgage because o[ a detault. Md the Mortgagee may. at any time pendtng a auit upon thls Mortgage. apply to the Court having iurladictton of such suit tor the appointment o[ a receiver of all and singular the pcemiaes and the rents, isiuea and proS4 thereof, and thereupon the Court shaU forthwith. as s strict matter ot right !n the Mortgagee. and without oonstderatlon of the value oi the mortgaged premises as securtty for the amounts due the Mortgagee. or the solvency of any person or persons bound for the paymenC+ot auch amounts. and without notice, appotnt s receiver of all sucb p~mises wlW the usual poweis and duttes including the power to rent the premisea and to collect the rental thereot and theretrnm. the revenpe derivrd [mm said premises to be applied to the proper charges and expenses attendtng the recetverahlp. taxes and assessments and other charges against and for the pmtection of the premises, the payment ot the indebtedness secured hereDy. or as the Court msy othen~vise d[rect. & If the premlaes, or any part thereot. is taken or damaged under any power ot eminent domsin or otherwfae. the~ whatever moneys shall thereby become due the Mortgagor are hereby aasigned nnd ahall be pald to the Mortgsgee. who, after deducting all reasonable costs and expenses which may have been incurnd by it in the oollecUon theteot, ahall apply the remainder of the sums received to the payment and aatfsiaction ot the lndebtedness secured hereby fn tull or pro- tsnto. My surplus of such moneys over and above ttie amounts necessary to pay in full all lndebtedness hereby secured shall be patd to t2~e Mortgagor. 9. The Mortgagee sfiall have the right at any Wne and trom Wne to time, and without notice to or consent of any person. to release any portion of the premises from the llen o[ this Mortgage end to extend tlte time oi paymeat of sll or any part c1t the indebtedness. without aHecting or releasing the personal liabWty ot any person lfable for the payment oi any sum or interest secured hereby and without in anywise altering, varying or dLninishing the torce. eifect or llen of this Mortgage on all ot the premtses not speciHcally released [rom the -lien o[ this Mortgage by the Mortgagee. i i i l ~ T6e covenants herein rnntalned shall bind. and the bene8ta and advantages shall inure to. the respective hei~s„ execu- ~ torsr adminlstrators, successors, and assigns of the parttes hereto. Whenever used, the singular number ahall include the plural, the plural We aiagular. and the use of any gender shall include all Qenders. It h intended that thls Mortgage aad the note hereby secured are made with reference to and shall be oonatrued as a Flodda contract and ~averned by the ~ laars thereoL IN WITrTESS WHERDOF, tAe Mortgagor herein named hai hereunto aet his hnnd and seal the dq? and qear II~st above written. ' ~ Sigaed, Sealed and Dellvered in the Presence- of: ~ ~ . _~:~'~~C~ ~CT.I-.t~:7~_4.. .(SFAL) CoLrt d L. Col er, Jr. ' . . ~i ~ - ~ . ~ t/~~ ,~~~1 ; G=-4{.C~~-•-•-{ ~:FSEAL) ~ Pau~ine F. Colver K ~ .L.t~ .(SEAL) ` • ~ `J ~ ~ ' _:~1~~c~~L''i lSLAL) - - - . ~ ~ ~ ~ ~ . ~ a~'~ ~ ~ ~ ~ ~ _ - - - - - _ . - _ .