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Home My WebLink About2118 , ANO the said Mortpoqor hereby covenonts ond aqrees with 1he soid MortyQyee os follows: FIRST: Thot the Mortyagor is lawfullr seized of the above described premises in fee simple and hos 9ood ~i~ht to sell ond convsy fhe same to N+e Mortgogee; that the soid premises are f?ee ond disthoryed of and from all tcxes. tox titles or certificotes, judgments, methonic's liens and entumbro~xes of ony noture or kind whotsoever o~d fhot the Mo~tgayor will fully warront ond . defend the some to Me Mortgogee, ogainst the lowful claims and demands of all persons whomsoever, and will meke such further ossuronces to perfect fea simpte title to soid land, in the Mon~cyee, as may reasonable be required, ond will pay the sever~l sums of ma+eY ogreed ~n the said note to be paid and efl instollme~ts of principol o~d interest Me~eon promptly when due, and occording to the true tenor aod efFect of the soid note. SECOND: That the Mortgogor will pay all and singular the taxes, ossessments, levies, and entumbrontes of every noture on the above described property, and upon this monyage and rate, or the money secured fhereby, before delinquency thercof ond receipts evidencing poyment of said toxes, assessments, levies ond encumb~onces shell be deposited with the Mongogee on or before Morth lst of eoch sucteeding year during tfie term of Ihis mortgage; ond if same be not promptly pcid when due, the Mortgagee may (wifhout obligetion to do so) pay the same, or become purchaser of any lawful evider+ce the~eof, o~ certificate therefor, without waiving or ofFecting any right hereunder artd ia this mo~tgaye, or the said note which this mohgage secures; ond such payments or expenditures so mode shall beor interest from the date thereof at the rate of eight per tentum (8~1 per aru+~m. THIRD: That the Mortgagor will keep all real and personal property now or hereafter encumbered by the lien of this mo?tgage insured as moy be required from timc to time by the Mortgagee ogoinst loss by fire, windstorm and other hozords, casuo{ties ond tontingencies for such perwds and for not less thon such amounts as moy be required by the Mortgagee and to poy p~omptly when due all premivms for such insuronce. The amounfs of such insuronce required by the Mortgagee are exp?essive of only the minimum amounh fo~ which said insuronce sholt be written ond it shall be incvmbent upon the Mortgogor to mointain such odditional iruurance as may be necessary to meet ond complY fully with all co-insurance reqviren+ents contoined in said poficies to the end that said Mortgagor is not a to-insuror thereunder, Insurance shall be written by a compony or companies approved bY the Mortgagee and all policies and renewals thercof shall be held by the Mortgagee. All detailed designations by the Mortgagor wFi~ch ore accepted by fhe Mortgagce and 611 agreements befween Mortgagor and Mortgagee reloting to insurance, now existing or hereafter made, shalt be in writing and shall be a pcrt of this mortgage agreement os fullr as though set forth verbatim herein and shall govern both porties fiereto and lheir wuesson and auigru: No lien upon any of said policies of insurance or upon ony refund or retum premium whKh moy be poyoble on the tanceilation or terminoY~on thereof, sholl be given to other than Me Mort- gagee, except by proper endonement affixed to wch polic~t and approved by Mo~tgagee. Eath poiicy of insurance sholl have affi;xed thereto o Standard Mortgegee Clause aaeptoble to the Mortgagee, moking all {oss or bsses under such pofit~? payoble to the Mortgegee as its inferest may appear. In fhe event any wm or sums of money become paYeble the~eu~der the Mortgogee shall hove the option to receive and opply the same on oaount of the indebfedness hereby secured, or to permit the Mortgagor-to receive and use it, or any part thereof, without thereby waiving or impairing onY equify, lien or right under and by viHue of this mortgoge. In event of loss or physical damage to the mortgoged property the Mortgagor shall give immediote notice thereof by mail to the Mortgagee and the Mortgagee may make proof of loss if the some is not made promptly,by the Mortgagor. In event of foreclosure of this mortgage or other tra~ufer of titfe to the mortgaged property in extinguishment of Me indebtcdness secured hereby, all ?ight, title and interest of the Mortgagor in ond to any insurante policies ihen in force sfioN poss lo the purthascr or grantee. Upon any default thereof~ the Mortgagee may (but without obligation on its part so to do) plocc iruvronce on such buildings and poy the premium and chorge wch sums so paid to the Mortgagor and such sums of maKy so pa+d shall bear interest from the date of poyment at the rete of eight pe~ centum (8~) per anrwm. FOURTH: Thot oll sums of money paid or caused to be poid br the Mortgogee under the terms of this mortgage ond herei~ , specifically provided for, and irxluding any expe~nes incur~ed by the Mortgagee in collecYwn of the sum secured by this mortgage, ` sholl be covered by the lien of this mortgage, fht some as the sums of money represented by the note wFiKh this mortgage secures. P P P P?h?, or an pon k FIFTH: To ermit, commit or wffer no waste, im oirment or deterioration of said ro e y part thereof, and u the failurt of the Morfgagor to keep the buildings on said property in good condition of repair, the Mortgogee moy demand the immediate repair of said buildings, or an increase in the amount of seturity, or fhe immediate repayment of the de6t hereby secured, and the foilure of the Mortgagor to comply with said demand of the Mortgogee for a period of fifteen (15) days shall cautitute a breoch of this mortgage, and, at the optwn of the Mortgagee, immediately mature the entire unpaid principal and interest hereby secured, and the Mortgogee moy, without notKe, institute proceedings to foreclose this mortgage, and apply fo~ the appointme~t of a receiver, as hereinafter provided. ~ StXTH: That the Morfgagor hereby promises, covenants ond agrees to pay the sums of monty and interest os mentioned in said promissory note, together with any ond all other sums justly due and owing the Mortgagee br the terms therein, and secured to be paid vs stated therein prompfly when due. If default shal~ be made in tl~e payment of the said sums of money or any part thereof as provided in the said note or this mortgage, or if ffie interest that moy become due thereon or ony part thereof sholl be in defoult and unpoid for a space of fifteen (15) days, or should the Mortgogor breoch or foit to comply with any other covenant or agreement on the part of the Mortgagor to be tomplied with (in those coses in wFiKh the option of the Mortgagee of accelera- t~on is not otherwise expressly provided here+n) and sud~ breach or non-compliance tontinue in existence for a spate of fifteen 115) doys, then and from thencefo?th, at the option of the Mortgagee and without notice fo the Mortgogor, the wfiole of said principal sum expressed in soid note, together with all other sums therein as well as herein provided fo~, shall become immediately due ond payable, without notice to the soid Mortgagar. 3 ~ ~ ~ SEVENTH: That in cose it should become necessary to ploce this mortgage and ihe note secured hereby or either of them, ~ in the hands of an attorney for collection, the said Mortgegor covenonts and agrees with tbe Mortgogee to poy oll costs, charges ~ and expenses of such colledion, irxluding reosonable aHorney's fees whether collected by foreclosure or othe~+rise. ~ EIGHTH: That, in the event any suit is brought upon this mortgage, whether to foreclose it, to reform it, or otherwise, ~ and or fo enforce paymenf of onr claim hertunder, the Mortgogee maY apply to any toutt having jurisdiction thereof for tfie oppointment of a receiver of said mortgaged propertr, as well as the income. profits. issues and revenues the~eof, ond the seid = 3~J~ rr~_~.'sJ~J ~OGK~~~J ~'ACf~~~~ ~ -2- . ~ - ~,~.'t ~ 1 ~Y . ~ ~ r z yT : _ a '7~+~a,... .,a ~-r..-'-