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Home My WebLink About0377 lt~n~l~~r to the ~lurtkage~~ in a~•conlaui•~• H•itl? the pro~•isious of thr• ~~ot~~ .ecure~l lu~r~~br, full pa~•nient o( th~ entirn indebtcdness represented thereb~•, tlte \lor~gagc~c, ua truste~•, sl?all, in co~??pulii~R tlu~ un~ount of surl~ indebtedness, credit lo the a~cow~~ af tl?c~ Alon ga~or ~i~• ore~lit balance rc~u~ainink u~i~l~•r ~h~~ prc»•i~ions o( of said pare~rapl~ 2. If ther~~ st~all bc~ a default wid~r an~• af the pro~•i~ions ot this ii~orlKake resultin~ in ii public sale of the premises covered LereL~•, or i( tl~e ~lort~x~c•e acyuires the pn~p~~rt~• otherw•i,r a(t~~~ ~i~~fault, ti~e `tortgag~e, as trustce, shall apply, at the time of ti?e conunencement uf such pme~~e~li~~~;s or ~t tli~ tim~~ the propert~• is otherwise acyuir~d, the an~ount then rnn~aiiiin~ to cre<lit ot \lortKa~;or unde•r (a) nf pziruKrapl~ 2 precedin~ as a credit o1i the ~ntPrt~st aecrued and unpaid and the halan~~e to the pr~ncipal then r~~n?;iiniu~? unp~ud on said note. 4. He will psy all ta~cea, asseeamente~ water retea~ and other governmental or municipal chargea~ finea. or unpositione, for which pmvision has not been made hereinbefore~ and in default thereof the 11r1ortgagee may pay the same; snd thet he will promptly deliver the o~ciat t~eoeip4e therefor to the lbl~rtgagee. 5. He will permit, oommit, or sufier no waste, impsirment, or deterioratioa of ~aid propetty or any part thereof~ eaccept reaeonsble wear and tear; and in the event ot the failure of the l~iortgagor to keep the buildings on eaid premises and those to be erected on eaid premises, or improvemente thereon~ in good repa?r~ the Mortgagee may make such repai~8 as in its discretion it may deem neceseary for the proper preeervation thereof, and the full amount of eac6 and every such payment shall be'~ue ~?itd psyable thirty (30) aays after demand, and shall be secured by the Gen of thie mortgage. ' 6. He will pay all and aingular the coats, cbarAes, and Pacpeneea, including reasonable lawyer's fee~, and costa oi abstracts of title, incurred or paid at any time by the Mortgagee because of the failure on the part of the Mortgagor promptly and fully to periorm the a.greements and covenants of esid promiagory note and this mortgage~ and said~ costs, charges, and expensea shall be immediately due snd payable and ahall be eecured by tbe lien of this mortgage. 7. He will oantinuously maintain hazard insurance, of such tppe or typee and amounte as Mortgagee may from time to time require~ on the improvements now or hereatter on said premises and eacept when payment !or all such premiums has theretofore been made under (a) of paragraph 2 hereof ~~e will pay promptly when due any premiums therefor. All insurance shaU be carried in companiea eppcoved by biortgagee and the poli- cies and renewals t6ereof shal! be held by;iortgagee and have attached thereto loss payable clauses in favor of and in form scceptable to the 111ortga~ee. In event of loss he will give immediste notice by mail to Mortgagee, and ~iortgagee may make_ proof of ioss if not made promptly by Mortgagor, and each insurance company ooncerned ts hereby authorized and directed to make peymeat for such loss directly to Mortgagee instPad of to ~iortgagor and l~iortgagee joinbly, and Lhe insurance proceeds, or any part thereof, may be applied by I11or~ gagee at ita option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property dama~ed. In event of foreclosure of this mortgage or other trausfer of title to the mortgaged property m extinguishment ~f the indebtedness secured herebp, a~l right, Litle, and interest of the 141ortgagor m snd to any insurance policies then in force shall pnss to the purchaser or grantee. 8. If thc~ pr~~n~is~~, or a~~r p:irt the~r~~of, br ~•ond~~nin~d und~•r tl?e po~crr of eminetri ~lomain, or u~•yuir~•d f~?r x public use, th~ daina~t•s u~~~ar~l~•~l. tL~• pro~~~~i~ds for the tukiuk of. or 1he c•onsid~ration [a• su~•h ~rquisition. tu the extent of thr full amount or ef«~ r~•n~Ainin~ w~pai~l inci~bt~~In~•ss se~ure~l b~• this niortkak~~, ur~~ h~~r~•h~- nssirn~•d to th~• ~fortgag~e. unii hi~ lu~i~s or K.csi~ns. und shall b~~ pai~) fortl?H'ith to s~id ~fart~a~:~~~~ or hi, ti:si~;ne~• to ap~>lit~i) on a~v•ount of th~ lust u~aturink instullments of such ind~•Ltrdnea,; prn~•i~le~l. ho~rr~•~r. the \ioMgu~ee or his :~,SiKne~, ina~ ut his clis~•mtion pa~- ~lirnc•t to tl~c~ `~ortgn~or, his he~i~ ur ussirns an~- purt or all ot su~h ~t~cnrd; pro~-~d~d, thut if th~• loa~i is kuarunirrd or insur~tl, ti~e ~•onscut oi the guurantur or insure~r i:: ohtnined in uii~-anc~ of SAI(I (lA}'ItlPilf. `J- The Mortgagee may, at any time pending a suit upon this mortgsge, apply to the court having jurisdiction thereof ior the sppointment of a receiver, and auch oourt shall forthwith appoint a teceiver of the premises covered hereby all and singular, including all and singular the income~ profits~ issues, and revenues from whatever source derived~ each and every of which~ it being expressly undetatood, is hereby mortgaged as i[ specificalty set forth and described in the granting and habendum clauses hereof. Sach appointmenL shall be made by such court as an admitted equity and a matter of absolute right to said Mortgagee, and without reference to the adequacy or inadequacy of the ~•alue of the property mortgaged or to the solvency or insolvency of said l~iortgagor or t!?e defendants. Such rents, profits, income, issues, and revenues shall be appiiecl by such receiver accotding to the lien of this mortgage and the practice of such court. In the event of any default on the part af the 111ortgagor hemunder, the :liortgagor agrecs to pay to the Diortgagee on demand as a reasonable monthly rental for the prnmises an amount at least equivalent to one-twelfth (~2) of the aggregate of the taelve monthly installments pa~•able in the then current year plus the actual amount of the annusl taxes, assessments, water rates, and insurance premiums for suc6 year not covered by the aforesaid monthly payments. i U. In the event of any breach of this mortgage or defaeilt on the ~art of the 1liortgagor, or in the event that any of said sums of money herein referred to be not promptly and fully paidaccordingto the tenor hereof, or in the event that each and every the at,ipulations, agreemeats, conditions, and co~•enants of said note and this mortgage, are not duly, prompt[y~ and fuliy perfom~ed; then in either or an} such event, the said aggrngate sum meationed in said note then mmaining unpaid~ with interest aecrued to that time, and all mone~~s secamd hemby, shnll become due and pa~•able forthwith, or thereafter, at the option of said 1lortgagee, as full~• and completel~• as if all of the Raid sums of mone~• nere originally stipulated to be paid on such da~•, an~•thing in said note or in this mortgage to the centrar~ notwithstanding; and themupon or thereafter, at the option of said ~Iortgagee, w~thout notice or demand, suit at laH or in equity, may be nrosecuted as if all moneys secured hereb3~ had matured prior to its institu- tion. The ~~ortgagee may foreclose this mort~age, as to the amount so declared due and pa~•able, and the said premises shall be sold to satisfy and pa~• the same together aith costs, expenses, and ailoaances. In case of partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the continuing lien of this mortgage for the amount of the debt not then due and unpaid. In such case the provisions of this paragraph ma}• aguin be availed oi thereafter fmm time to time by the ~iortgagee. 11. Nq waiver of any covenant herein or of t6e obligation secured hereb~• shall at an~~ time thereafter be held to be a v~a?ver of the terms hereof or of the note secured hereby. . 1'?. The lien of this instrument ahall mmain in fuU force and effect during an~• postponement or extension of the time of payment of the indebtedness or any part thereof secured hereb3•. 1:i- If the Aiortgagor default in any of the covenants or agrcements contained herein, or in said note, then the Mortgagee may perform the same, and all expenditures (including reasonable attomey's fees) made by the riortgaaee in so doinK shalt draw• int~rnst at the rate pro~•id~~~l for in the prin~~ippl indebt~~~n~ss, und ~hall b~ rnpa~•able thirt~- (30) da~•s after demand, and, togett~er Kiti~ interest and cos~s acerued thereon, shall be secured by t6is mortgage. 14. L'pon the request of the ~1ort~;agee the ltortga~or shall c~ecute and deli~er a supplrmrnla) not~ or not~s for the sinn or sums ad~•anced b~~ ~he ~lortgagee for the alteration, m~ul~rnization, impro~~~~m~nt, n~ain- tenance, or repair of caid premises, tor ta~es or as.~c~~mc•nts a~;ainst the san~c an~l for N.~~• othc~r purp~~s~~ nutl?or- ized hereunder. Said note or notes sLall be~secured t~ereb~~ on a parity «~ith and as full~• as if tLe adrance eridenced thereb~- H•ere included in the note first described above. 5aid supplemental note or notes shall bear inLcrest at the rate pro~ ided for in the principal indebledness and shsll be pa~•able in $pproxitnat~~h• equal monthl~• pa~ ments (or such period as me~ be a~;reed upon b~ the cr~ditor and clebtor. Failink to a~ree• on ~h~~ maturity, t~e w•tiole ot the sum or sums so ad~-ance~i shnll Le due and pa}ablr thirt}• (30) da~-s a(t~r ~l~~mar~d bv the creditor. In no event shall t6e maturity extend be~•onJ the ultimate r.~aturit~• of tLr n~te first described above. - ~~~2U8 ~ 3?? ~ ~ a~_, . ~ ~ - _ ~ < ~z.~ ~