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Home My WebLink About3794 trn~lrr to the ~lurtRa~re in accorJancc Hith the pro~•uious of the uot~• srcun•~! 1«•rri?~-, full pc~~•~~?t~nt o[ th~~ entire indebtednc~ represc~~ited the~ebv, the \4ortKagGe,.+is trust~~e. ~1?~ll, in coinpu~inK tlu~ aniount of sueh indebtedness, credit to the ac~•~u,~c or ~L~ aionKa~o~ hSt!~'hrndit t~alanc~~ rrmainiu~; un~le~r th~• pro~•i~ions of (N) of said paragrapl? 2. If there s}~all t~e a default un~ier an~• o( the pro~•isio~~s of this mortKu~~ r~•suttii?~; i~? a public sale of tl?e premises covered liereb~', or if tiie liortgx~re acyutres the pro~~rt~• other~~•~~e aRrr defaiil~, the :~iortgagee, as trustee, shall appl~•, at the time of the com~~~enceu?r~~t of yuch pnx•t~di~~~ or ut tl?~ tiiiii~ the propert~• is otherNise acquired, the amount then r~n~aining to credil of \lortga~;o~ un~ler (a) of petruKraph '2 preceding as a credit on the inten~st accruect and unpaid and the balanre to tl?e principal tht~n rn~uain~nK unpai~i on said note. 4. He wiU pey all taxea. seeeeamente~ wster tatee, snd ot6er governmental or municipsl chargee, 6nea, or impositiona~ for which provision haa not beea made hereinbefore, snd ia default thereof the Mottgagee may pay the eaone; and that he will promptly deliver the official reoeipt~ therefor to the lbfortgagee. b. He will permit, oommit, or suHer no waste~ impairment~ or deterioration of eaid property or any part thereof, eaccept reaeonahle wear and teat; and in the event of the feulure of the Mortgagor to keep the buildinga on said premises and thoee to be erected on eaid ~i~s, ar ~p ta thereon~ in good repair, the MortgAgee may make auch repairs as in its discretion it ms~i~'deem neoeaeaty fo~ r he proper pre~ervation thereof, sad the full amount oi each and every such payment shall be due and payable~ thirty (a0) days after demand, and shall be aecured by the lien of thia mortgsge. . 6. He will pay all and singular the costa, ~ and ezpensea, including ressonable lawyer's feee, and costs of abstracts of title, incurred or paid at any time by t e Mortgagee because of the failure on the part of the 2~iortgagor _ pmmptly and fully to pedorm the agree-nents and covenanta of aaid promiseory aote and this mortgage, and said coats.~-char¢es. and excenses shall be immediatEly due and payable and shall be secured by the lien of this mortgage. 7. He wiU oontinuously maintain hazard insurance, of such type or types snd amounts as :~Sortgagee mas from time to time require~ on the improvements now or hereafter on said premises and eacept when payment !or all such premiums has theretofore been made under (a) of pacagrsph 2 hereof~ ~e will pay promptly when due any preuuums therefor. All insurance shall be carried in companiea approved by Dlortgagee and the poli- cies and renewals thereof shall bt~ held by 141ortgagee and have attached thereto loss payable clauses in fsvor of end in form acceptable to the Mortga~ee. . In event of loss he will give immediate notice by mail to Mortgagee, and tiiortgagee may make proof of ioss if not made promptly by Mortgagor~ and each insurance company concerned is hereby authorized and directed to make payment for such loss du~ectly to Mortgage~e instead of to :1lortgagor and 141ortgagee ointly , and the insurance proceeds, or any part thereof, may be applied by Mor~ gagee at its option either to t~e reduction of the indebtedness hereby aecured or to the restorataon or repair of the property dama~ed. In event of foreclosure of this mortgage, or other transfer of title to the mortgaged property m extinguishment of the indebtednesa secured hereby, all nght, title, and interest of the 111ortgagor m and to any insurance policies then in force shall pass to the purcheser or grantee. i~. If the pre~ni~e~s, or iu~~- purt th~~rcof. 1?e ~•onden?ned under tl?e }w~~•~•r of eminc~nt domain. or ac•quir~~~i f~?r a publi~• use, th~~ damaK~~s a~~-ar~led. the pro~•e~~cls for the takinK of, or the ~onsideration for suri? ae•quis~t~on. the e~tent of thr full umount of th~• ren~aining unpaid indebtedness se~ured 1»- tliis inortK.ige~, ur~• li~•r~~l,~- l1S,SI~IIE'(~ LO th~~ ~Iort~ak~~~, und his liei~ or assi~ns, und shall be pai~! forthK•ith to said \IortgaK~~~~ or !?is assiKnee to b~ applie~l on aci~ount of the last u~aturin~ instalimenis of sucl~ indebtedneas: pro~•icie~l, ho~~'i•~•~i•, the ~IortK:~gee or his assi~nee, uia~ at hi3 discrrtion pn~- dimct to tl?e ~1ort~;a~or, his lu~i~ or i~.csiKus an~- pnrt or all of su~•h a~~an1; pro~•i~led, th~it if tt~~ lo:u? is Kuarantt~~•~l or insumd, the ~onseut of the guurant~~r or insur~~r i; ot?tained in ad~-ance of said pa~-nu•tz1. The viortgagee may, at any time pending a suit upon this mort,gage, apply to the court having jurisdiction thereof for the appointment of a receiver, and such court shall forthwit6 appoint a receiver of the premises co~•ered hereby all arid singular, including all and singular the income, profits, issues, and revenue$ from whatever source derived, each and every of which, it being expressly understood, is heieb~? mortgaged as if specifically set forth and i described in the granting and habendum clauses hereof. Such eppointment shall be made by such court as sn admitted ; equity and a matter of absolute right to said Mortgagee, and aithout reference to the adequacy or inadequacy of ! the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or t!?e defendants. Such ~ rents, pro6ts, income, issues, and revenues shall be appliecl b~ such receiver according to the lien of this mortgage ~ and the practice of such court. In the event of any deisult on the part of the Mortgagor hereunder, the Diortgagor ~ agrees to pay to the Mortgagee on demand as a reasonable monthly rental for the premises an anlount at least ~ equivaient to one-twelfth (~z) of the aggregate of the twelve monthly installments payable in the then current ~ year plus the actual amount of the annual taxes~ sssessmente, water rates, and insurance premiums for such year a not covered by the aforesaid monthly pa~•ment9. s lt?. In the event of any breach of this mortgage or default on the part of the D'Iortgagor, or in t6e event that ~ any of said sums of money herein referred to be not promptly and fully paid according to the tenor hereof, or in the ~ event that each and every the stipulations, agreem~nts, conditions, and co~ enants of said note and this mortgage~ ~ are not duly, pmmptly~ and fully performecl; then in either or any such e~ent, the said aggmgate sum mentioned ~ in said note then mmaining unpaid, with interest accrued to that time, and all mone~•s secured hemb~•, shall become ~ due and pa~able forthaith, or thereafter, at the option of said Dtortgagee, ~as fully and completel~ as if all of the said sums of mone}• were originally stipulated to be paid on such da~, an~•thing in said note or in this mortgage to ~ the contrar~ notwithstanding; and themupon or thereafter, at the option of said rtortgagee, aithout notice or demand, suit at law or in equity, may be prosecuted as if all mone~•s secured_hereby had matured prior to its institu- ~ tion. The ~~ortgagee may foreclose this mortRage, as to the amount so declared due and pa~•aLle, an~ the said ~ premises shall be sold to satisf~ and pa~• the same together with costs, expenses, and allo~sances. 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 pro~-isions of this paragraph ma~• again be ~ availed of themafter from time to time b~ the ~Iortgagee. r 11. No waiver of any covenant herein or of the obiigation secured hereb~• shall at an~ ti:ue themafter be held ~ to be a~siver of the tecros hereof or of the note secured hereb~•. ~ 1''. The lien of this instrument ahall remain in full force and ePfect during an~• postponemeat or extension of `__a the time of pa}•ment of the indebtedness or any part thereof secured hereby. l:t. If the I~iortgagor default in any of the covenants or agreements contained hemin, or in said note, then the 1liortgagee may perform the same, and all expenditures (iacluding reasonable attomey's fees) made by the ~1ortRaRee - in so doinK s6all draH• inl~rest at the rate pro~•id~~l f~r in the prin~•ipnl in~lc~ht~~~ln~ss, ami shall b~ mpa~•able - thirt~• (30j da~-s atter d~mand, an~, togcther w•itl~ iuterest and ~•osts arcrucd thereon, shall bc sccurcd b~~ this mortga~;e. 1-1. Lpon the request of thc ~1ort~;a ee the ~1ort~a~;or shall eiccute anil ~l~li~er a supplt~tnental not~ or notes [or the sum or sums ad~-ance~l b~• t~ie ~1orl~a~;ee for lhr alteration, m~dc~rnizatioii, impro~•~•~n~~nt, ~nain- tenance, or r~pair of said premi~es, for tax~~ or a~.~t~s~m~nts agaiust the ~atn~~ nn~l for ea~- oth~~r pur~~rni• authc?r- ize~! hereunder. ~aid note or notes sl~all b~ secumd hcreb~- on a parit~- Hith arnl as fuli~• as if tl?e e~l~-anr~~ ~y e~ i~lenced thereb~• K ere included in th~ note first described al>o~ e. ~aid supplemental not~ or notes shall bear y_:^ interest at the rate pro~•idcd for in the principal indebtedness and shall be pa~-able in approximati•1~• ~•yual monthl~ pa~•ments (or such period as ma~• be a~reed upon br the cr~ditor and ~lebtor. Failin~? to a~:re~~ on the maturit~~, t~e w-hi~le of the sum or ~nms so aciranccd shall be duc and pa~•abfe tt~irt~• (30) da~-s aft~~r ~I~~uii~nil by the creditor. In no e~ent s6all the maturit~ c~tenJ be~-ond the ultimate r_~aturit~• of thr n~t~ fi~t described ebo~ e. C '1 . ~ 7~9 - Di:~?i ~J ~ A'~~ ~ ~ _ ~ q : ; ~ ~ ~ _ : ~ ~ , ~ ~ ~ ~ ~r - ~ r ~ ~ ~ ~ t.~.z~~~: ~