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Home My WebLink About1384 tender t,o tha Mortgagee in i?ccordance with the provisioae ot tt?e nole secured l~creb~•, full peyuient. of tl~e entire indebte.dnees repreaented therebv~ the Mottgagee~ aa ttuatee~ shsll, in ca~iputing U~e aiiiount o! sucli indebtednees~ credi6 to the account of lhe Mort,gagor any cred~t balance temaining under t1?e provieiona af (a) ot said ph 2. It there ahaU be • detault under any of the provisiona of thia mortga~e resulting in s public sal~he premisea covered hereby~ or it t,he Mortgagee e?cquues the pcoperty ott?erwtse after defsult, the Mortg~gee~ as ttuatee~ shsll apply~ at the tune o! the coinraencement of auch proceedings or at the time r, the pmpert,y m otherwise acquired, the amount then remainu?g to credit of Mortgagor unde~ (a) o~ paragrapl~ 2 preceding as a credit on the interest accrued aad u~paid and tl~e balance to the principal then re~naining unpa~d . on eaid note. 4. 8e will pUr alt ta:es. aeseemments~ wstee rates~ aad other ~nvernmental or munieip~l ehs~gee. 6aee. or impo~t~ons~ fot w~ch pravision L~s not been ma~ie barainbenora, and in deisuit U?e~~af the Mort6a8~ ~Y P+4Y ~ a~uoe; and f~t bs will prompt~jr deliver Rhe o~c~al reoeipts Werefoe to the Mortgagee. b. He will perm~t, oommit~ or suB~ no w~ate, impsirmest, at deterlon?tion of eaid p~operty ~sq~ pe?rt thereof eo~cept re~eo~b~_ we~r aad tear: ~d m the event of the failure of the Martgagar to keep the building,s on saic~ premises aad thoee w~:°rected oa eaid pcemiees~ os improvements t6ereon, ia good repair the Mortgsg~ee msy maice such repairs es in i•e disoret,ion it may deeao~ neoeseasy for the Pi'olP~ P~ation t6ereo~, snd the full aanount ~ at eaeL iwd every such pe~vmwt shall be due and p~yab~e thirtY (30) days dter demaad, snd ebe?ll be eecured by tbe lien ~f Lhns mo~rtg,~a 6. He will p?y all and einguLr tbe ooats, and espeoees, Including reeis~nsble Iswyer's feee, sad oosf,s of ~bstr~cta af title, incurred or paid st any time b~ort$sgee becauee of the fuilare on the part of the M~~ e pc"umPt1Y und i to peiform tbe a~enta and eoti?ensnte of eaid promieeory note und t~ismor~e, auid _ eoste. c6srgee, e:pensee shalt be immedisce~y d~e aad psysbk and ehsll be secnred by the lien of tbie morcg~ge. ~ 7. Ha will ~aralaauoe~ meint~in ht~ssnl ineuranoe, of auch type or typee snd amounte as Mortgsgee may trom time to time require, on the improvemente now or hereatter on eaid pramiaes and eacept ~vhen payment tor all such pi±emiums haa theretofore been m~?de under (s) of paragra~h 2 hereof ~e will pay prompLly when due any premiums thorefor. All insurance ahall be caizied in oom~?an~ea approv~ by l~io ~a,g snd the po!':- cies snd renewala thereof shsll be held by Mortgagee snd bsve attached thereto loee psyab~le~cls~iisee in fsvor ot snd in form acceptable to the Mort~agee. In event of loes he will give immediste notice by mail to Mortgsgee, aud Morfgagee msy ms1~e proof o? toes if not made promptly by Mortgsgor~ snd eacL insuranoe oompany concerned is hereby~ suthorized and direct~ed to make psyment for suc6loes directty to Mor~q~ inatead of to Mortgsgor and Mortgagee 'ointly, aad the ineut~nue prooeeds, or any part thereof, may be app~ied by Morw gagee st its option either to ~e reduction oi the indebtednees hereby eecured or Lo the restorataon or repair of Lhe pmperty dam~ed. In event of foreclosure of thia mortgage or other tranafer of title to the mortgaged property in e=tanguishment of t6e indebtedneee aecw~ed hereby, a~l right, title, and interest ot the Mortgagor 8. If the pmmisea, or an~• part tLereof, be condenined under the power of eminent domain, or acquired for a public use, tl~e damages awarcied, tl?e proceeds for the taking of, or the consideration for surl~ acquisetion, to the extent of the full s»~ount oi the remaining unpaid indebtedness secured b~ this mortgage, are liereb~- assigned to tlie Mortgagee, and his I~eirs or asaigns, and shall be paid forthwith to said l~tortgagee or his . ass nee lo be applied on account of the last ~naturing installments of such indebtedness; provided, however, th~~ortga~ee or his assi~mee, ~na~ at his discretion pas dir+ect to the Mortgagor, liis heirs or assigns an~ part UC 8tl QI SUCII 1LW~IU~ ~liVV~lictl~ u~o~ i~ usc .vw.'u° 6......~....... ' •r ~r :.+W.,~.1 ~h.+.w,n~vnt of t.he euarantor or insurer is obtained in advance of said pa~ ~nent. 9• The Mortgag,ee msy, at any time pending s auit upon t6ia mortgsge, spply to the oourt hsving juriediction thereof for the appointment of a receiver~ and such oourt shall forthwith sppoint s reoeiver of the premisee covered hereby all arid aingutar~ including ~i! snd singulsr the inoome, pmfits, iasues, aad revenues from whatever eource derived, each and every of which, it being ea~preasly undetstood, ia hereby mortg,aged as if specifically eet forth and deecribed in the granting and habendum clsusee hereof. Such appointment shall be made by auch oourt es an admitted equity and a matter of absolute right to said Mortg,sgee~ and wifhout r~ference to the adequacy or inad the vatue of the property mortg,aged or to the solvency or ine~lvency of said Mortgagor or the defenda n$uch r~nta, profita, income, issues, and revenues shall be applied by euch receiver sooording to the lien of this mortgage and tli~pn?cttce of such-ca~t: ~n the eveutof any default-ou-thepart of the Mortgagor hereunder; t6e Mortgagcrr _ agreea to psy to t6e Mortgagee on demand sa s renaonable monthty rental for the premiaea an smount at leaat equivalent to on~Lwelft.h (~z) of the agg~ate of the twelve monthly inatallments psyable in the then current year plua the actual amount of t6e annual taxea, asse$sments, ~vater rates, and inaurauoe premiuws.for euch yesr not oovered by the aforesaid monthly psymente. l0. In the event of any breach of this mortgage or default on the part of the Mortgagor; or in the event that ; auy of said suma of money herein refen~ed to be not promptly and fulty paid according to the tenor bereof, or in the ; event tLat each and every the stipulations, sgreements, canditions, sad oovenante of said note and thia mortgage ! are not duly, promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned E in eaid note then remaining unpaid, with interest accrued to that time~ and all moneys secured hereby, s6all become ' due and payable forthwith~ or thereafter, at t6e option of said Mortgsgce, as fully and completely as if all of the E eaid sums of money wer~ originally stipulste~ to be paid on such day, a~dything in eaid note or in this mortgage to ; the contrary notwithataading; sud thereupon or thereafter, st the option of esid Mortgagee, without notice or E demand, suit st law or in equity, may be prasecuted as if all moneya eecured hereby had matured prior to its institu- ; tion. T6e Mortgagee may forecloee this mortgage~ as to the amount eo declared due and payable~ aad the said premieea shall be sold to satisfy and pay the same together with oosts, e~cpenses, and allowances. In ca~e of partial ° foreclosure of this mortgage, the mortgaged premises ahnll be,sold subject to the aontinuing lien of this mortgage for the ~?mount of t6e dekt not Lhen due and unpaid. In euch' case the pmvisions of this paragraph may again be ' availed of thereafter from time to time by the MortgageE. 3 i 11. No waiver of any oovenant herein or of the obligation aecured her~by shall at any time theteafter be held ; ~,o h~? n w~yg~_~f ~~~ereof or of the note eecured hereb - ~ l2. The lien of this instrument et~all remain in full force and e6ect during any poetponement or extenaion of ` the time of payment of the indebtedneee or any p~rt thereof eecured hereby. # 13. If the Mortgagor default ia any of the covenants or agreements contained herein, or in esid note, t6en the : Mortgagee may pedorm the aame~ and all expenditurea (including reasonabte attomey's fees) made by the MortgaRee in eo doing ahall dcaw interest at the rate provided for in the ~rincipal indebtedness, and shall be rnpa3 able thirty (30) days after demand, and, together with interest and costs accrued thereon, shall be secured by thia mortgage. ~ 14. Upon the request of the Morigagee the Mortgagor shall execute and deliver a supplemental note or - notes for the sum or sums adranced by the :4lortgagee for the alteration, modernization, improvcment, maia- ; tenance, o~ rnpair of said premises, for taxes or assessments against the seme and for eny other purpose author- ; ized hereunder. Said note or notes shall be secured hereby on a parity wit]n and as fully as if the ad~ance evidenced thereby were included in the note first described above. Said snpplemental note or notes shall bear ; interest at the rate provided for in the principat indebtedness and shaU be payable in approximateiy equal monthly payments for such period as may be agreed upon by the creditor and debtor. Failing to agree on the ~ maturity, the vvhole of the sum or sums so advanced shall be due and pa~able thirty (30) da~s attcr demand by the creditor. In no event shall the maturity extend beyond the ultimate raeturity of che note first deecribed above. ~ BOOK~~O PACE~~7~ 3 k ~ • ~ ~ ~ . . . , . . . . ~ . . . . - .v - ~ ":i-y:~