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Home My WebLink About2681 f 3. To k~ep ~he hu~l~l~ng~ now or h~r~v(te~ un said land ~nd the fiztures anJ prroona) p~operty 1h~rein coa.~~ned insured. ~ in •~•om~~anr ur ~~nmyauid app~oved by ~hr mon~aRrr, asainst loa by (ire ~~J wmJstorm, for the h~ghest inwraF~le ~alut ~o v Ihat thr m,~rtF.,K~r', m~rrr~t i- m.t .uLj~~ r ~u in.uren~ and ~he policy or policies ahall be held br and l~e payable to said mon~ase~, anJ th~ monRagre ah~ll have ~he oytion to rcteire and •pplY said p~)went on accounl o( the in.lebtrJnrat hereb~ secutrJ, or p~rmit the murtgagor to r~~•ei~~ ot u.e it, or anr patt Ihereof, tor ~ny purposes Kithout IhereDp w~ivina or im- pairin~ tha equity, lirn o~ rig1U under ar~d !,y vinue ot t6ie mortpae ~nd mar pl~ce and par tor wch iasurance or ~nr part the~eot without wai~ing or af(ectin6 the optiu~ to (oreclo~e or ~ar ri6ht he~eunder, ~nd each surh p~yment shal) tkar int~reAt (~om date •t the rate of 10 p~rr~nt per ~nnum. ~ 1. To permit, commit, or ~u((cr no Mas1e, impairment, ahandonmrnt, or d~eriuruion o( said ptoEurty, or ~oy pert therr- of. a~~! u~wo ~hr (ailur~ o( th~ \lortgagor to kerp th~ huilding~ •nd per,onal proprrh• on said property i~ guud eonJitiun o~ re- p pair, tho ~fortgag~e m~y d~mand the immediate repair o( said propertr, or ~n increase in the ~moun~ o( security, or the ~m- ~ mediate npayment o( the dcbt hrrebY xcurrd, and th~ f~ilure of the Mong~gor to complr wilh a~id demand of th~ ~lort6agee , for a pcriod o( 15 dac~. :hell con+utut~ a brea:h o( thu 11ort6aR~, snJ at th~ option of the ~tortgagte, immedi~t~ly mature i d~~ ~u~~rr amount o[ pnn. ipel and intrrrct h~r~hy srcurrd, and the ~lortgege~, immrdiatrly and withuut noti~e, m~y inahutt p~a~~r~~in~~ to lurc~~lo~r thu ~lu~tgeg~ an.l ayplr tor the appoinlmeot of • Receher, as hereinaiter pro~•idnl. ~ 5. To per(orm, comply wnh and abide Ly c~ch and cvery the stipuluion~, a`reements, eonditions, ~nd corenants in aaid promiccory no~e and derd xt (orth. 6. To deli~ec to th~ Mong~gee, on or be(ore }ebruary 1 0( eaeh ye~r, u: receipts evidencins the paqment ot al! I~wiully impoxd tase~ upon the mortg~ReJ pmpettr [or t6e precedin~ caltnd~~ year; to deti~~er to the Mort6~~ee reeeipts e.•~dencing the pa~•ments ot all liens for public impmvemrnts w~ithin Ninetr 1901 da~s dter the same shall become due and parabk, and to Mr or divh~rRe w•ithin Ninety (901 d~ys a(te~ due date. anr ~nd aU ~orernmental le~ip that m~r be m~de on the morl~ageC propert~, on thii \fortgage or note or in any other ~rar reaulting from the moRgage indel~tedat~e eecurcd b~ thi~ Mor~6~6~• To pal all and ~ingular the east~, charRey, ~nd eipenxa, including la~ryer'e teet~, reason~blr incurre~ or paid at any tim~ M th~ 1lurtgaRte, berauee ol the failure of the \tortgag~or :o pet(orm, romply with and abide b~ each ~nd evrry th~ ,tipn- lations, aRreements, ~onditiona ~ad covenar.ts of said promi~ory note and this deed, or either, and erery such p~yment s7ull brar intereyt from date at the ntc u! 10 p~-rent per •n~um. 8. Thet i( an~ a~tion, or proceeding, ~hall Le eommcnced by any person aher ~6an ihe holdcr oi thi~ mortgaRe ~ eicept an u•tion to forcclusr this mortgage, or to coll~et the debt secuted thercby) to which action, or ptoceedin6, the hold~r u( thu monRsge u made a panY, or in whiel: it shall txcome neceasary to de(end, or uphold, the lien of t6i~ mort~e, all ams pse~i by the hotder ot this mortRege (or the e:pense o( any litigation to prosecute. or detertd, the riahts ~nd lirns created by thu mortgage IincluJing reaaonaLle counsel ieesl, a6aU be paid b~ the \lottsaaor, tosether ~rith iotetest thtreon. ~t tht rate of 10 prrcent per annum, and any surh ;um. snd the inteteest thereon, sh~ll b~ a claim upon saiJ premises. ~nd shall bc ~emed to bt ~t~ ur~J b~ ~hi4 mo~~gaRe. Tler .um~ paid by or incurred by the holder hereof in ~ecordance with the terms o( this paragraph, shall tK paid by the ~(origa~or +~nto the hul~irr hercof ~ithin thirtr 1301 d~ps, and the (ailure or omiasion oI tbe ~iortgagor so to do shall mtitle thc I~IortR~gee to add su.h sums to thc principal indebtedneas of this oortsage ~nd the aote it securcs, and..~or at its option d~~lsrc thia mortRsge ~nJ ~he na~ it serures to be in de(~ult, thereupon m~turing all o[ the unpaid indebtedners including th~ :ums ad~anced her~ur.d~r. 9. Thst no e:tension o( the time or modification o! the ternu o[ pavment hetein~bove, and no reltaae of any part or parte nf the mortgaR~d pr~mi:rs, e~rn though made without the consent oE the 1lortgagor shall rele~se, relieve, or disch~rg~ the ~fortRagor (rom the pa~Tnent ot eny o( the sum3 hereby xcured but in such evtnt the Mor16a6ot shall nercrth~les3 tie liabl~ to ps~ cu~h sums a~cordin~ to t6e t~rms ot such ext~nsion or modifications unless speeifically released and discharged in vrriting by thr. ~tortgag~r, end furthermore, thst scceptanee of part pa~ment of ~nr inst~llment oE prineipal ur interrat, or twth, or o[ part performance o[ any cov~n~nt or ~1~Iay for •nr period o( tone in t:ercising the option to mature the entirc debt, shell not op~rat~ as a waic~r of the right to e~e~ut~ su~ h opuon or act m such default, partial a~ceptance or ~ny subeequent d~fsult. 10. Lntil default in the per(ormance of the corenants and ¦sreemente of thi~ ~iortgage, the :1lortgagor s6a11 be entitled to collert the rents, i:sucs, ~nd protrts Irom t6e premisea hereinbe(oro described, but in case of a de(ault in anr of the ternn o[ this ~IortRage, or the filing oi a bill to forerlo~e this or anr other mort`a~e encumbcrine ~he rrithin decribcd pmpetty. the \tort~agee shell immediately end without nuti~r !x entitled, u a mattet o( tight, and without reg~rd to the ~alue of the premises, or goh•eacy or IR90I~MC~ ot th~ psru.s, to the appointm~nt o( a Recei~er of the mortgaged pmptrtr, both real and personal, and of th~ r~nts, i~cur+ and protits th~reY~f, with the uwel porer of Receirtrs in such ca.ses, and such Recei~er may be continued in pos~evion ol th~ said pmp~rh' unt~l thr time ot th~ sale th~reof, under such foreclosare, and until the coefirmstion o( tuch , ~ sal~ by th~ 1'ourt_ ! 11. I( forc~ lo.~ur pfiM'rrdinR. -!~~~uld b~ instituted on any mortgage inf~rior to this mortRag~ or ii for~~la,ure pro- j r~~din~c i; instiwted on any I~rn nt an} lin~l, th~ mortgag~e may tt its option immediat~ly or there~tter declare this mortgage i and th~ md~Ltfdnrss v. ured hrrrb~, Jce and p~~ab~e. If thert is anr mortqage wperior to thu mortsage, then failure to pay said mortga~e whrn du~ and ir, a~.ordanre wuh its ternu or [ailure to ebide by the t~rms of said mortsage shal) 6e decmed a ~ brcach of tLi3 mortgagc and the mortaag~e at its option maY immediatdy or theredter declare this mortsase aad tht indebttdnea~ ~ hercb •~ecured due and a~sLlr. Am mndiii~ ation of an mort a e su rior to thu mort a e or xaiver of an rinci al or interest ~ ) P? r B8 P~ BB YP P = pa~ments on any note or moriRag~ ~up~rior to thi~ mortgage shall be deemed a breech of the terms and covenants of this mortg~6e a and the mortgagre hereof may at it; option declare tnis mortgage and the indeLtedness secured hereby due and parablc. ~ 1~'. That the meiling of a Mrittrn noti~e of demand, addre~sed to t6e orrner of reeord of the mortaaged prcmisee, directed ; to th~ said owner at the I~t addr~s; ectualh furnished to the Jlortgagee, or directed to the uid owner at wid mortgaged pte- ~ misr:, and mailed L~~ the Gn~ted ~turs m.ils, sh~ll t,e wfficient notice and demand in aar caae uising under this inatrument and ~ r~quir~d by the procisions hereot or by IaM. ~ , ~ 13. T6st in the evrnt ~he ~lortgagor should as:i6n the rente of the mortgaged premiua or an~ part thereof r+ithout the consent of the ~lortgagte, thrn the entire principal wm secured hercbr ehall, •t the option o! the Mortgagee, become immediate- x ly due and payable. ~ ~ 13. To thc ~xtent o( th~ indebt~dnrss of the Jlortgagor to the ~1ortE~gee dexribed herein or secur~d herebr, the Mortg~ee ' ic hcreby subroReted to the Grn or lirn: and to the righu oI the ownere ~nd holden thercof of each •nd ~ver~ mort6age, lien or ~ ~ oth~r eneumLran~e on the land d~cril~ed herein Mhich is paid and/or wtis(ied, in whole or in p~rt, out o( the prceeeds o( the loan dcscriFxd herein or arcured hereby, end the respertire liens of wid mortgases, liens or other rncumbran~es, s6all be ~nd the same and each of them hercb7r ia prn~n~d en~1 ~hall pacs to and be held by the Mortgagee herrin as aecuriqr for the indebt~dne~s to tht F; \tortRagee herein dexnbed or hereby s~curcd, to the aame e:tent that it xould hare boen preserr•ed and would hare been pasxd to u ¦nd br~n held by the Mortgaqer had rt Leen duly and regularlp ueigned, tnnsferred, set or•er and dtlivered unto the ~iortsaaee br ~ separate deed o( wignment notNith+lendinK th~ (ut th~t the same maY be wtisficd and cancelled of rccord, it beins the intention y of th~ paru~s her~to that the sam~ Mill Lr ;ati,fied ~nd c~ncelled of record by the holden thereof at or •bout the time o[ tht - ~~rording of thig ~IortgsR~. 1~- If any of the wm~ o( monh• hrrtin r~ferrrd to be not promptlr and fully~ p~id within~~ll~_da~~s n~xt a(t~r the same se«rally come due and payaLle, or it ~ach ~nd e~ery the stipulations, a~Creements, conditions and corenants o[ said oromi~- ~ sory note and this deed, or either, arc not dul~ rerformed, complied with and abided by, the aRgregate sum m~ntion~d in ssid promiesory note thrn remsinin6 unpaid. ~ri~h interest ~cerued to that time, and all moneqs secured h~reby, chall 1KCOme due and payable forth..ith, or thereafter, at the option ot s~id MortgaRee, fullr and compl~t~ly a~ if all o[ the said sums ot mon~r wcre ori inallr sti ulat~d to be _ B p paid on such day, anpthin6 in eaid note or in this mortgage to the contnrT notwithstanJ- ing: and thercupon or th~rca(t~r, at the option o( eaid 4lortgagee, r+ithout notice or d~mand, suit at I~w or in equity may he prrn- ~cut~d aa i( all mon~r~ secured herebT had matured prior to it~ in~titutan. ``n~ 16. ~[ortgagor will e:hiGit to \tortRaRee written rtceipts establi~hing p~~mrnt o( ~ny sums requir~d to IK paid undrr any superior morlRaRe or oth~r lim obligation, no late~r than five 15? dapa priot to the time that a~celeration of such sup~rior mortgag~ or lien rould IK AKlsr~d (or non~payment ther~oL :K~ :=Y 1'. The abstra~t o( tidt co~ering the encumbered propertq sh~ll belona to and r~main in the posxssion o( th~ !11ort~;aRee c~r donnR th~ licn of Ihis 1lortgaqe. :~:i f+! ~ v,,2 ~~C,K 2iO P~~ ?~678 . ~ ~ ~ ~ _ ~ ~ ~ ~ . ~ t~,. _ , _ ~