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HomeMy WebLinkAbout0076 5 ~ AT E o~ f=L,UF-lfUA i-'~' r v?-~+us-~ ~ . o= ~ OOCUMENtARY Tl~MP ~A l~ ~'~ti tAMP T~. ~ PEPT.Oi REVENIIE ~ . ~ ~ ~ =r ' ; ~ 2 e Z. s a s o a o o ~ o = ~~~02 ~ ~ ate repair of said improvements or the ir.unediate repayment of the debt hereby secured, and the failure of the mortgagor to comply with said demand of the Association for a period of thirty (30) days, shall con- stitute a breach of this mortgage~ and, at the option of the Association, immediately mature the entire amount of principal and interest hereby secured, and the Association, immediately and without notice, may institute proceedings to foreclose this mortgage and apply for the appaintment of a Receiver, as hereinafter provided; or the mortgagee may make and pay for such repairs as in its discretion it may deem necessary for the proper preservation thereo£, and the £uil amavnt of such payments shall be secured by the lien of this mortgage and shall at the option of the mortgagee be imir~diately due and payable, or pay- able in such monthly ir.staZlments as the mortgagee may determine. 5. To perform, comply with and abide by each and every the stipulations, agreements, conditions and covenants in said promissory note and deed set forth. If any of the sums of money herein referred to be not promptly and fully paid as the same severally come due and payable, or if each and every the stipulations, ay~eements, conditions and covenants of said promissory note and this deed, or either, are not duly performed, complied with and abided by, the aggregate sum mentioned in said promissory note shall become due and payable forth- with or thereafter at the option of the Association, as fully and completely as if said aggregate sum of money was originally stipulated to be paid on such day, anything in said promissory note or herein to the contrary notwithstanding. 6. To deliver to the Association on or before March 15th of each year, tax receipts evidencing the payment of all lawfully imposed taxes for the preceding calendar year; to deliver to the Association receipts evidencing the payment of all liens.for public improvements within ninety (90) days after the same shall become due and payable, and to pay or discharge within ninety (90) days after due date, anv and all governmental levies that may be made on the mortgaged property, on this mortgage or note, or in any other way resulting from the mortgage indebtedness secured by this mortgage. 7. Until default in the performance of the covenants and agree- ments of this mortgage, the mortgagor shall be entitled to collect the rents, issues and profits from the premises hereinbefore described, but in case of a default in any of the terms of this mortgage, or the filing of a complaint to foreclos~ this or any other mortgage encumber- ing the within described property, the Association shall immediately and without notice be entitled to the appoin~ment of a Receiver of the mortgaged property, and of the rents, issues and profits thereof, with the usual power of Receivers in such cases, and such Receiver may be continued in possession of the said property until the time of the sale hereof under such foreclosure and until the confirmation of ~ such sale by the Court. i 8. If a conveyancE should be made by the mortgagor of the premises herein described, or any part thereof, without the written consent of the Association, or without assumption in regular form of law by the grantee of the obligation to the Association created by said ~ promissory note and this mortgage, then, and in that event, and at the option of the Association, and without notice, all sums of money secured hereby shall immediately and concurrently with such conveya~ce become due and payable and in default. 9. In the event the premises hereby mortgaged, or any part thereof, shall be condemned and taken for public use under the power ' of eminent domain, the Association shall have the right to demand that all damages awarded for the taking of, or damages to, said premises sha11 be Faid to the Association, its successors or assigns, up to the amount then unpaid on t-his mortgage and may be applied upon the payment or payments last payable thereon. i -3- i I r~~0~• ?6 ~ g~it~?r ~'AGE 4~,~, ~ : _ . S~ ,.;k i .r.~ . I.'~-~ ~ ~ ~ .i 9 ~