HomeMy WebLinkAbout2885 r~t 1Ewcq~w Ju~ brrrb~ ~-uvrnant an~i :~rce:
1_ To~ rec6as~ wm~L? wuA .~n~i :?biJe bp C~:h aa~i every the stipulatiuns, ag~eements. cu~~itiuns and covenants cuntained and
,~s 3cx+it,m ~l~m~ue~ ~fuoit uc aoccs, this btungaype aiui. it applicable, the Luan Agreemen~ between the Murtgagee und Murtgagur.
j,o p~r~ ic ~bo~m~ securui blr ~his iastrumeat and acrording to the true tenur and ettec~ ut the Prumiswry Nat~ here-
mr~c,a,r ~e~a~ao,a,i,u~ 01;~ c~carcwal cberruE, pnxnpcly oa che day ur days the same severally becume due.
i To ~y. i~cf~e 6io~~ ~t. all obligatiuns. encumbranecs. ~a~ces. assessments, paving, sidewalk, sanitary and uther
~~rr~a, 9eorea ,o~ G,ea~. wuw us herpfter kvied or imp~ueJ upwt or against the mcirtgageci property. and to exhibit tu the Mon-
tief~e w~i ss~es,. ase~aio. heffi. aad encumbrances become delinquent, ~he otGcial receipts tor payment thereot; and if
~hc i~c+or ~~t al~csr~ ie ~ p~1 befixe becuming delinyuent. the Mortgagee may at any time pay ~he same witb accrued interest
~m/a~n,,i~a~:vsi~iri~w waisiag us ~dog Mu~egagee s option to toreckue this Mortgage. or any right hereunder, and every payment
~a, ~rae ~A 3~r~r ~ fire~m cbs date thera~f at the rate provided in the Promiswry Note secured hereby, and all such payments
w~ ~oe~ ~i~ ~r 9a~~eai bs ti~e Gat bereut_
al. 1~t ;f s~v~-~ s6ou4t [x m~ie by tbe Mongagix ot the premises herein described, or any pan thereat, without the
,?m~ ,cn~ ~ot d`e ~eG aa~f wichUUt assumption of tbe obligation created hereunder, in regular torm of Iaw by the grantee of
z~cc ~an~par. icis a~~i w~r t~a~~ ~d ac tbe oQcioa ot the Mortgagee. and without notice to the Mortgagor. all sums ot money secured
as~ cu~.-~ceacll wi[h wch convryance become due and payable and in detauit. whether or not the same are
,.r~,iur ~ p~i0e asi is ~ult E~ cac ~ca,~ific ternu hereot. ~
7i~u o tie esest af a suit being instituted to foreclose thi~ Mortgage, tF.a Mortgagee shall be entitled to apply, at any time
flucuye ar ie Cuusc baving jurisdcti~n t6ereot. [or t6e appointment of a Receiver of all and singular the mortgaged
asi ~i ~o~.. ~~m~:s. p~o6ts. i~es aod revenues thereof, from w6atsoever source derived; and thereupon it is hereby
r+~wiy+~mia~1 a~,~ a~saed dme the Coust shaq torthwith appoim such Receiver with the usual powers and duties of receivers in
~l?e r~; ~u! ;~pu~ sh:dl be made bY the Cuurt as a matter of strict right to the Mortgagee,.and without reference to the
h~~ac~; ,o~ ~ia~C2 ut d~r s~ius of c6e propert~r hereby mortgaged, or to the solvency or insolvenCy ot the Mortgagor or any other
dyr~ ssia The b~x~~s ~reb~ specifically waives the right to objcct to the appointment or a receiver as atoresaid.
gd ~a~i~~,oy~~ ~ t~ w~ app~isune~t shall be made as an admitted equity and as a matter o[ absolute rig6t to the Mort-
Erpe~ as~ ~ ie sasr m~ be 3~ v~icl~out acxice to che Mortgagor.
f~ 1~ ~ a~- ~o?-~a~s sb~nld be insatutod against the property covered by this Mortgage. upon any other lien or claim, •
xfic~or ~ar m~ psx ~a ~r ~ oE dtis Mortgage. tbe Mortgagee may. at its option. immediately upon institution of such suit or
~i~ ie ~it ~c~ :~tcxtga~e and the indebtodness secured hereby due and payable forthwith, and may, at its
c~ea ~ ws 6aaoeluer ~ ~ccgage_ •
~ To a~ aei ~~lar drr custs. bees. c6arges and eapenscs uf every kind. including the cost of any Abstract of TiUe to said
1~ dw~m~ eo 6e ~~c ia connectiwa with any suit for the foreclosure of this Mortgage. and also including. whether '
~r ~er es ~~eg ~+m~e a~ nuc. reasonable attoraey's tee incurrod, expended. or committed for at any time by the Mon-
~n~ar ~ara~e,of ~e ' ~ir ~xtgagoc co perform, comply with aad abide by all or any of the rnvenants. conditions and stipulations
cd ~ lkaam~ ~fiooG ' S4xtga~e. in t~e foreclosure of this Mortgage and in collecting the amount secured hereby, with or with•
;.ia ~ai ceimbuise tfie M~xtgagee for every payment made or incurred tor any such purpose, with interest trom date
;d c.e~f ~ci ranr y~uricied ia the Promissory Note securod hereby; such payments and obligations with interest thereon.
~ aiaa~i. ~`e x~ 6~ doe Tiea 6eroof. • ~
i~. To ~~ae f ie ~ ~x ~ a~vr or hereafter oa said land insured against loss or damage by fire, eatended coverage and '
~o~r.. ~ war '~-e i€ available, in a sum not less than their ful! insurable value at the cost and expense of the Mort-
Ea~x ~ a,a,am~s rx~ apQrored b~ the Mortgagee, the policy or policies of insurance shall have at~xed thereto a Standard
~e+s• ti,a~ ~e C7~ ~ a11 ioes or losses under suc6 policy or policies payable to t6e Mongagee as its interest may appear,
m~f aa„~ ~~,,,a ~ te [i~r btoctgagce vr6en iswed with the receipts for the payment of the premium therefor; and in the
r„~ 6~ma p~b~e under such policy or poticies, t6e Mortgagee shall 6ave the option to receive and apply the
~~ne ,~m ~+~E eie ~ mustd hereby, or to permit t6e MortgagoT to receive and use it, ur any Rart thereot, for other ;
~~s,a~6a~e vraisi~ oc imp~iriag any equiry, 6en or rig6t under or by virtue of this Mortgage: and the Mortgagee, if it deems :
~~p~ 6rx snc~: ~nrmce, or any part theroof, without losing, waiving or affecting the Mortgagee s option to fore-
c:lc.•~e ia+r ~,ad ~ a~ part thereof, or any right or option under this Mortgage, and every such payment shall bear
m~ t~eo~,~a a~aOi~ oae~ ~ aE t6e caoe provided in the Promissory Note secured hereby, and all such payments with interest as
~cas.s~i s~ ~ saa~ 6~ dre Iie~ beceo~ In t~e event any loss or damage is suftered. Mortgagor shall notity Mongagee of such loss ~
ca ;~c w~esbim ia~-d~e M8~ Ir~uES afmr the happening thereof. Failure to give such notice shall constitute a default and the Mort-
!'hL1~ Y~~ ~i~! ~ ~S ~8 ~!II ~S[ ~Q ~~5. .
T~~~..~.-a~uc ~s su~ez ao a~axc. ~nd to maiatain t~e impro~ements at all times in a state of good repair and condition; and ,
3c,,~,ar ~o~ioe ~al~r,~r~n,e o,a~ s~ pRmises uotLing t6at will alter or change the use and character of said property, or in any way impair ~
` ::s ~ ir ~aca~ u~ s~ l~t~agG [n c~se of tlu refusal, neglect or inability of the Mortgagor to repair and maintain said prope~ty.
F ~~aaaw~ ~a~, aa ~s a@m~ m~he wch eepairs or cause the same to be made, and advance monies in t6at behalf. which sums shall
: t?r ~a~at 6~ ie ~~aa~, aa~t bea mcerest at the rate provided in t6e Promissory Note secured hereby. •
~ IiL T,~~ ir ~-t or absuacu of tide corering the mortgagod property to Mortgagee or its designated agent. w6ich s6a11
~ x± s~ ~es ~~dr ~ d~a 3~tortgage. remain in che possesdon of t6e Mortgagee; and in the event of the foreclosure of this Mort-
rbs~e ~s,oa~ e~or a[ ac~ aQ ci~tt. a[le and incerest of tLe Mongagor in and to any such abstract or abstracts of title shall pass to the
~,~~a~ ~
/L T~e ma~ Wai.er ~f aa~ co~eaant herein or in the obligation secured hereby shall at any time hereafter be held to be a waiver
: d aq~ ~f iir ~ot~er aa~s f~ao€ ex oE cbe lYote securod hereby- i
Lb. T~ is aai~ ov~ ~cdeca~ae tl~e maturiq of the indebtedness hereby secured because of the failure of the Mortgagor to pay =
~c ~~[c~_ obii~atioa oc encumbrance upcx~ said property. as herein pro~~ded, it shall not be necessary or requisite t6at 4
~r uc~sn~ee ~ 6t~t p~ tft sama ~
t~ T~ac ~ dYr 1~ s[saII fa~, neglect or refuse. for a period of THT_R'~'v ( 30 1 days, fully and prompdy to
~sr ic emam~. ~ai ora Be p~ 61 [he lYote 6ereby xcured, or the interest therein specified, or any of the sums of money herein
~~i aw,ar ~ sa-uee~ or otlter~six duty, fully and promptly to perform, eaecute. comply with and abide by each, every or any of
~?r,oma~, ~.~r ~ uf tbis Mortgage. the Promissory Note hereby secured and/or the Loan Agreement. if any, t6en
o,n~er~r ~~.~su~~ ev~, withouc nodce or demand, the said aggregate sum mentioned in said Promissory Note, less previous `
~as~e~, a~€ aQ sum,4 men~oned hereia or secured hereby shall become due and payable forthwith or thereafter, at the ~
::-m~um~ ~p~o~ ~ ie ~ ~s [uli~ a~ complete[y as if said aggrcgate sums were originally stipulated to be paid at suc6 time,
a~~ ~~ei p~osf l~o~ or 6ereia co the eontrary notwiehstanding, and the Mortgagee shall be entitled thereupon or thereafter,
gi~ mu~r ro~ ~ suir. at lavs or in equity, to enforce the rights of the Mortgagee hereunder or under said Promissory
i `~c~. i~ ir e+s~a ,of ~g ~ ur brrach on the part of the Mortgagor hereunder or under said Promissory Note, the Mortgagee shall
~ ~ssc ie~~ ta~ e~cz-e pelmant of aU sums secured hereby, by action at law or by suit in equity, to foreclose this Mortgage. ~
_ ~r~er ,o,r i~~. ~aomc~ .x ~ise. aad one action or suit shall not abate or be a bar to or waiver of the Mortgagee's right to
m~ne,es ~~e o~er_ pr~.ided said Mortgagee shall have only one payment and satistaction of said indebtedness. ;
71~ ~ ir eae~ 5~ort~gor s6a11 i I1 consent to the appointment of a receiver, trustee or liquidator of all or a substantial part ~
c~ ~'s~ k2bie~a 6~nkrupt or a~solvent, or file a voluntary petition in bankruptcy. or admit in writing its inability
~c~ ~ i~~idrss a ie~ 6c¢o~e dmc: 131 make a general asvgnment for the beneGt of creditors; (4) Cle a petition to answer seeking rt (0 :
;,r~ i a~ wioti~, credmrs. or to take advantage of any insolvency law: (5) file an answer admitting the material allcga- •
*~~ms~af a~eo~ ii~i ~gam~ tbe ~brcgagor in ~ny bankruptcy. roorganization oi insolvency proceeding; (6) action shall be taken by the
~ A9e~pa~ ia ame @n~uae eSecang a~? of the foregoing: or 171 any order, judgment or decree shall be entered upon an application
rd a~ocr~ J~f~~r z`-oure oE compeuat jurisdiction aPproving a petition seeking appointment of a receiver or trustee of all or
` a~~e[ d ie bi~'s assets, aad sach order, judgment or decree s6a11 continue unstayed and in effect for any period ot ~ 3
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clare the Nae hereby securod forthwith due and pa yable, whereu p on the principal of
an~ ie ~ aio~m~e3om s6c 1~ooc ~ud al[ other sum~ hercby secur~d shall become fonhwith due and payable as if all of the said sums
cd ~a~rg w~e~e ~ sriputoood w be paid on such day: and t6ereupon the Mortgagee, without eotice or demand. may prosecute a `
sun ~~as ~i vr iv eq~~. ~s J a~ moni~s secured hereby 6ad maturcd prior to its institution. ~
I3?. 7ma eie Sfac~oG or ~ pe~son aut6orized by the Mortgagce. shall have the right to enter upon and inspect the mongaged ~o '
r~c~es~a ai ~i~c Bmes. am
''-y~,. Tl~a ~ su~ Fx sams which may be loaned or adranced by the Mortgagee to the Mortgagor. at any time wit6in ten (10) years
~e,~ec,o[ ~ iic~ct. a~ecLer wit6 iucerest thereon at the rate agreed upon at the time of such loan or advance. shall be equally
ve_zme+d ~~?6 (~t ci~e same pri~xiq as the origina! indebtedness, and be subject to all of the terms and provisions of this Mortgage;
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