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Home My WebLink About2458 • - . ~ v.~ ~s -.~i- ~i_ ii~{~~`•'?~~#'~?~'~~~~;;~~:1~t~~Yr , ~ ~ ~ and shall pa~ ~11 ahe~ aum~ provided to be paid br this 111ort~e. and ehaU petiorm, oomplr with aad abide by each aad • ever~ the atipulations, a~eemrnts. conditioas aad coreawts ot said p~omiswq aote and of this deed, then thia deed and tbe ~ - esute heceby created shal! ixax aad be aull aad roid ANA THE MOR'i'GAGOR does hercbr turther oo~eaaat and aaree as tolb~rs: 1. To par dt aad singulu the principa) and intcrest and o~her su~w of mone~r par.ble b~ .awe oi aaid pnumi~or~ nae and this mortgage, or either. PromPtlp o~ the daYs rapecu~tilr cbe same ,everdl~ come duG 2 To pay all and singular tues. a~neats. le~ies, liabilities, obli6atioos aad eacumbrances oi ever~ aature on ~aid described property. each and erer~. ~+ithin t6a time apeci(ied 'w Para6raph 6 below. and ii the same shall aot be p~oaoptl~ patd. ~ the Aiortgaaee may, at an~ time either before or atter delinquencT. pa~ the same rrithout wairin6 or atfecting the option to fore- t~~ clo~e, or aar right hereunde~ and everp pa~meat so made ahall bear interwt from tLe date thereof at the rate oE 10 peroent per annum. 3. To keep tbe buildia6a ao~r w hereafte~ on ssid land and the fi:tures aRd pttSODII p~OpfSIL~ lhC[Elll COR~AIAtd 1n8LL[td. in a compan~ or oompaaies approred bT the mo~tgagee, a6sinst loes by fire aad windstorm, ioc the hig6eat insunbk ralue ao f": , that the mort~agee s inter~t is not subject to co-irtsuran~e, anJ the policy or policita shall be held 67 and be pa~able to aaid E~: mortgagee~ and the mortgasee ~all 6ave the option to receive and applq said payment on account of the indebte:iaeas hereb~ ~ aecured, or pamit the mortaaaor to receice or use it, or any part thecr,of, for any purposes v+ithout thercbr Kaivins or im- pairin6 the equit~, liea or ri;ht under and br vinue oi this mortgage and ma~ place and pa~ tor auch insurance or anr part ~ tl~ereof ~rithont ~raiving or a[fectin6 the optioa to foreclose or any right 6creuadcr, and each such pa7ment shall bear interest irom ~ date at tt~e rate of 10 perant per annum. t.: 4. To permit. rnmmit. or suffer no waste, impairment, abandonment, or deterioration of said property, or any part there- ~ of. and upon the failure of the Mortga6or to keep the buildings and persoaal pmperty on said property in good condition or re- pair, the Mortgagee ma~ demand t6e immediate repair of saed propeny. or an increase in the amount of security, or the im- r~ mediate repay~nent of the debt hereby secured. and the failure of the ~1lortgasor to complY w*ith ssid demand of the Mortgagee ~q for a period of 15 dass, shall oonstitute a breach of this A[ortgage, and at the option of thc I~iocigagee, imwydistcl~ mature ,f,,~~;: the entire amount of principal and intereat 6ereby secured, and the Aiortgagee, immediately aad wit6out Mtice,•~ay institnte proceedings to foreclose t6ig ~iortgage and apply (or the appointme~t of a Receicer, as hcreina(ter~pmvided. _ , . . . - S. To pedorn~, complq with and abide b~ eac6. and e~ery the stipulatione, a6reements. conditians, a~rd oorenant~ in said , pmmissory note and deed set forth. , . ~ - - Y~ 6. To deliver to the Mortgagce, oa ar before Febroar~ 1 oi each peaq tau reoeiPb evidencina t6e pa~ment of all lanfully ~ imposed tazes npon the mortgaged pmpertr for t6e precedin6 ulendar 7ear; to deli~er to the Mortgagee nceipta ecidencing tLe ; papmeats of all lieos for public impmvements rrithin Ninet7 (90)_ da7s dter the asme shall become due aad payable, and to pay - or discharge within Ninetp (90) days after dae data aa~ and all governmeatal le~iea that maY be made on ehe taort8a6ed ~y'" ProP~~Y. oa this 1ltortga~e or aote or In an~ other wa~ reanltio~ fmm tLe mortpae indebtednees ~ed b~ this Mort~e. . ' 7. To pay all and singulu the coata. chugea, and e:penses. including la~vyer s ta~, reasoaably incurred or paid at any x`'F` time~ b~ the 3lortgagee, becawe of t6e fWure o[ the Mort6aaor to perform, oompl7 rrith and abide b~ each and erer~ the stipn- lations, agreements. oonditions and co~eaants of snid promissor~ note and this deed, or eithet, and erer~ sucL pa~ment shall ' bear intet~est from date u tLe rate of 10 peroent per annum. ~ 8. That if an~ action, or prooeeding, ehall be commeaced bY anT peroon other than the 6older of this mort~c (eioept _ an actioa to fonclox chis morcaage, or to collecc d,e debc secnrcd thee+eb~) to ~rhich action, or proceeding, the 6older of thia mortgsge is made a part~, or in whic6 it shall become necessary to defend, or uphold, the liea of this mortgage, all sums t~ paid b~ the 6olikr of t6n mortgage for t6e ezpenee of an~ litigation to proseeute, or defeod, the tiahta aad lieea created b~ t6is mortgage (ineluding reaeonable coanxl fas), s6all be paid bp the Mortgaaor. togetber with intereat theroon, at the rate of 10 peroent per annum, and anY sach s~m, and the intereeat thereon, ahall be a claim npon said premieea. and s6a11 be deemed w be aecured b~ this mortgage. The sums paid by or incurred bp the holder hereaf in accordance with t6e terms of this paragnph, ahall be paid bp the 1ltortgagor nnto the holden c~reof vrit6in thirt7r (30) ds7s. and th~ failwt or omiasion of t}~e Mortaagor so to do shall entide the Mortgaaee to add sach sams to the principal indcbtedness of this mort~e and tLe note it secnres. and/or at its K optan declare this mortgage and the note it secnrea to be in default, there~pon mataring all of the nnpaid indebtednees including the sums adranced hereunder. ' _ i~ 9. 'fhat no e:tension of the time or modification o[ the tenns of pagment hereinabore, and no releue of any part or parts ~ of ihe mortgaged premises, e~en though made without the conseat of the 1lfortgagor shall release, rel~tve, or discharge the i ~fortgagor from the paftnent of any of the sums hercby aecured but in sach e~ent the Mortgagor s6all nevertheleas be liable to f pap such sums according to the terms of suc6 e=tension or moditicatans unless specifically rdeased and discharged in ~rriting ~ by the 11[ortgagee; and furthermore. that acceptance of part pa•n?ent of an~ insullment of principal or interest, or bot6, or of ~ ~ part performance oi anr covenant or delay for any period of time in esercising the option to mature the entire debt, shall not ~ x~:~ operate as a~rai~er o[ the right to ezeeute such optioa or act on such ddanlt, putial acceptance or an~ anbaequeat defanlG ~iij 10. IJntil default in the periorma~ce oE t6e covenants and ag~eements of this Aiortgage, the biortgagor ahall be entitled to collect~the rents, i~uea. and pmtits from the premises t~erewbetore described, bnt in cax of a defanlt in an~ of the terms of this Mortgage, or 4he filing oE a bill to fore~lose thi4 or any other mort6age ~camberint tbe wichin de~c~ibed Propert7~ the ~ Mortgagee s6a11 immediatel~ and withont notice be entitled, as a matter of right, and nithout regard to the nlue of the premises, o~ solrener~or iaaolvency of t6e parties, to the appointment ot a Receiver of the mortgaged piopertY. both real aad Peiaonal, and of the rents. issues and profits thereof. with the usual powu of Receivers in such cases, and such Receiver ma~ be continaed F~ in possession oi the said pmput~ until the time of the aak thercof, nnder suc1~ foreclosure, and until ihe confirmation of suc ~~i sale by the Court. ' ' 11. If foreclosure pmcxedings slwuld be inetituted on anY mortgage in(erior to thia mortgage or if any foreclosure pro- ~ cecding is instituted on anp lien of aoy kind, t6e mortgagee may at its option immediately or thereafter declare this mortgage ~j~~ and the indebtedness secured henb~, dae and payable. IE tlxre is any mortgage aupuior W this mortgag~ th~n L'Jure to pay - ~ snid mortgage when due and in accordanu with ib terms or fa"lure to abide 67 tLe tern~s ot said mortgage ahall be deemed a breach of this mortgage and the mortgagce at its option ma~ immediatdy or thereafeer declare this mort;aae,and t5e indebSednas hereby atcnred due and papable. A~ moditication of an~ mortgsge superiot to t6is mortgage or waivtr of any principal or interest payments on anp note or mortgage superior to th~ mortgaae slull be dcemed a breach of ihe tern~s ~nd eov~anta of this mortgage .>s and the mortgagee hereof map at its optioa declac~ t6is moztgage and the indebt~edneas ea~red heicb~ dae and pa~able. 12. That the mailing of a rrritten notice of demand, addressed to t6e oxner of reoord of the mortgaged premises, dirceted ~ to the said owner at t6e last addrees utwlly fnrnished to the blortga~ee, or directed to tbe said owner u aaid mortgaged pre- mi~es, and mailed b~ t6e United States maiL~, shall he aufficieot notices aod demand in a~ case acising nader t6is iostrnmmt and `^~4 required by the pro~-isions 6enot or by ln+. ~ ~ V~,. ]3. That in the ecent the Mortgagor should assign the rents of the mortgaged premisea or aa~ part 16ereof wit6out the conxnt of the Mortgaaee, tLen t6e entire principal aum sewred 6ereb~ s6a11, at the option of the Mortgagee, become ~mediau- Iq dne and payable. ~ 14. To the ea~teat of tLe indebtednds of the Mortgagor to the 111ortgaaee da~cribed herein or secared henbp, the ~iortgagce ~ is hereby aubmgated to t6e lien or liens and to the rig6ts of tbe owaaa and Lolders tLereof of each and erer~ mort~t, liee or ~ othv encnmbrance on t6e land deecribed herein which is paid ~nd/or a~tisfied. in whok or in part, att of tLe proeeeb of tbe loan i~ descn'bed 6erein or 6ecared 6ereb?. and the reacpectire liens of aaid mortaa6es, liens or other encambr~nocs, aha11 be and the s~me and eac6 oi t6em h pass te and be 6eld t6e Mo ee 6erein aa aecariq for the indebtedneas to the ereb~ ie preserved ~nd s6a11 b~ rt~ Mort a ee hereia ddcribed ot henb secared, to tbe same e:teat that it Konld hare been preserred and'nonld hace been pasxd to t 8 8 1 and bcen held b~ the ffiort~ee had it beei~ dulr and nanladT assigeed, transferred, set over and delivered anto the Mortgagee bT sepuate deed of assignment not~ithstanding the fact that the samt ma~ be satis[ied aad cancelled of record. it being the intention a ~ of the parties hereto that the same will be satis(ied aad cancelled of record by the holders thuwi at or about the time of the V ; recording of this \tortgage. ~ ~ ~:,Vll r~~~~~ .-f : 3~Cl~ . 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