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Home My WebLink About2879 tender to the Mortgagee in accordance with the provisiona ot the note aecured hereb~•, full payment of the entire indebtednees represented therebv~ the Mort$sgee~ s~ trus~ce, ahall, in computing the amount of such indebtedneas~ credit to the account of tl~e Mortgegor sny credit balance temeining under the ptovisions of (e) of eaid p mph 2. It there ahall be a detault under any ot the provisio«s of this ~iiortge?~e resulting in a public ssl~ the premisea rnvered hereby~ or i~ the Mortgsgee acquirea t!?e property oti~erw~se efter detault, the Mortgagee, a8 trustee~ ahsll spply~ st the time ot the commencement of auch proceedinga or st tlie tin~P the property ~ otherwiae acquired~ the amoun~ then remaining to credit of Mortgagor under (s) of paragreph 2 preceding aa s credit on the intereat accrued snd unpsid and the balancs to ti~e principal then remaintng unpaid on said no~e. 4. 8s will p~y ~11 ta~cee, aaeeseonents, wst~ ntes, and ot~r~o vernmentsl or municipal ct?srBes, finee. os impoeitions, for wbioh proviedon has not been made hereiabefore, and in default thereof tbe Morfgsgee m4Y P4Y ~ swne; and tbst he wtll P~P~Y delivee the o~eial reoeipta t6erefor to the Mortg~gee. - b. He w[ll permit, oommit, or eu8er no wa~te, impairmeat, o~ deteriorstion of esid property ar~ thereot except ree~eonsbla weu and tear• snd in the event of the fiulure ~ tbe Mort~egor to keep the b on sai~ pcemieee and thase to be erecte~ on ssid pr~niees, or improvennente thereoa, ~n goal repair the Mortgagee may nnslce euch repsirs aa in ite discretioa iti may deem neoeeeary for the proper preeervation thereo~, and the full amouat of euch and every such psyanent shall be due and paysbk thirty (30) dsU?s dter demand, and ahsll be secured by the lien d this mortgage. 6. He will psy all and eingular t6e ooete~ and e:peaeea, including reaeonsble lswyer'e feee, sad oosta of sbetracta of title~ incurred or paid at any time by~t e Mortgagee becauee of the failiu+e on the part of the Mortgagor promptly and fullY to perform the agreements and oovensnts of asid pmmieeory note and thia mor~e , snd esid oosts~ chsrgea, and e~cpen~ee stiali be immed;atdp due sad payable snd ehall be aecured by the liea of tLia morrgage. _ - - - . . 7. He will oontinuously msintaia hszsrd insuranoe, of such type or types snd smounts se Mortgsgee msy irom time to time require, on the impmvements now or hereafter on ssid premiees and eaoept when paymen6 tor all such premiums haa t6eretofore been msde under (s) of paragra~h 2 hereof ~e will pay pmmptly when due any premiuma thc~refor. All insurance shall be carried in oomparues appmve~ by Mortgagee and the poli~ ciee and renewals thereof shall be heid by Iviortgagee and heve aiisched t~i~teia lu~a payabte ~L.-~ iit fAVl71 {71 and in form acceptable to the Mortgagee. In event of loas he will give immediste notice by mail to Mortgagee and Mortgsgee may make proof o~ Ioss if not made promptly by Mortgagor, and eacL insuranos oompany concemed is hereby suthorized and directed to make payment for such lo~s directly to Mortgagee inatead ot to Mort,g.agor and Mortgagee jointly, and the inaurance proc~eda, or any part thereof~ may be apphed by Mor~ gagee at ita option either to ttie reduction of the indebtedne~s hereby eecured or Lo the restoration or repair of the property dama~ed. In event of forecloeure of this mortgage or other t~nsfer of title to tLe mortgaged property m extingu~ahment of tLe indebtednees eecured Lereby, a~l right, title, and intereat oi tLe Mortgagor m and to any insurance pohciee then in force shall pnsa to the purchaser ur grantee. 8. I[ the prc~uises, or an~- part tLereof, be condemned under the power of eminent domain, or acquired for a publie use, tlie da~uages awarded, tlie proceeds for the taking of, or the consideration for sucl~ acqu~s~t~on, to the extent of the full amount of tlie remaining unpaid indebtedness sec~ured b~ tliis mortgage, are I~ereb~- assigned to tlie Mortgagee, and 1?is l?eirs or asaigns, and shall be paid forthwith to said Mortgagec or }iis assignee to be applied on account of the last uiatunng installments o( such indebtedness; pro~ided, however, the :~iortgagee or his assignee, ~na~ at his discretion pa~• direct to the Mortgagor, his heirs or assigns an~• part. or all of suc}~ aKard; pmvided, t}~at it the loan is ~uaranteect or insured, Lhe consent of the guarantor or insurer is obtained in advence of said pa~~tuent. 9. The Mortgagee may~ at any time pending a suit upon this mortgage, apply to the oourt having jurisdiction thereof for the appointment of a seoeiver, and euch oourt shall forthwith appoint a receiver of the prennises oovered hereby all a~d singular, including aU and ~ngular the income, proSts, issues, and revenuea from whatever eource derived, each and every of which~ it being expressly underatood~ is hereby mortgaged as if apecificslly eet forth and described in the granting and habendum clauses here9f. Such appointment shall be made by such oourt se an admitted equity and a matter of abeolute rigbt to said Mortgagee, and without reference to the adequacy or inadequacy of the value of the property mortgaged or to the aolvency or insolvency of said Mortgagor or t'ae defendants. Such rents, proSta, income, issuea. and revenues shall be appliecl by auch receiver according to the lien of this mortgage and the practice of auch oourt. Ia t6e event of any default on the part of the Mortgagor hereunder, the Mortgagor agrees to pay to the Mortgagee on demand as s reasonable month}y rental for t6e premi~a an amount at least equivalent to one-tweifth (~Z) of the aggreg~te of the twelve monthly installments psyable in the then current ~ year plus the actusl amount of the annual taxea, assessmeuts, water rates, and insurance premiums for such year ~ not oovered by the aforesaid monthly pay menta. . ! 10. In the event of any breach of this mortgage or default on the part of the Mortgagor; or in the event that ~ say of said aums of money herein referred to be not pmmptly and fully paid accordu'~g to the tenor hereof, or in the € event that each and every the stipulationa, agreements, oonditione, nnd oovenant8 of said note and this mortgage, ~ are not duly, promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned in said note then remaining unpaid, with interest accrued to t6at time, and all moneys aecured hereby, shall bec:ome d due and payable forthwith~ or thereafter, at the option of said Mortgagee, sa fully and completely as if all of the ~ said sums of money were orig;Inally stipulated to be paid on such day, snyLhing in said note or in this mortgage to the contrary notwithstanding; and thereupon or thereafter, at the option of said Mortgagee~ without notice or demand, suit at law or in equity, may be pro~ecuted as J all moneys aecured hereby had matured prior to ita institu- ~ tion. The Mortgagee may foreclose this mortgage, as to the amount eo declared due and payable, and the said ~ premisea ahall be sold to satisfy and pay the same together with coeta, expenses, and aUowances. In case of partial foreclosure of this mortgage, the mortgaged premises ahall be sold subject to the oontinuing lien of this mortgage ~ for the amount of the debt not then due and unpaid. In such caee the provi~ona of this paragraph may again be ~ availed of thereaiter from time to time by the Mortgagee. - 1 I. No waiver of any covenant herein or of the obligation secured hereby ahsll at any ti-ne therea[ter be held } to be a waiver of the terms hereof or of the note aecured hereby. ; . e en o the time ot psyment of the indebtednees or any part thereof eecured hereby. - 13. If the Martgagor default in any of the oovenants or agreements oontained herein, or in esid note, then the " Mortgagee may pedorm the same, and all expenditures (including reasonable attorney's fees) made by the MortgaRee s in so doing shall draw interest at the rate provided for in the principal indebtedness, and shall be rnpa~ able t`h`irty (30) days after demand, and, together with interest and costs accrued thereon, shall be secured by re 4LL~ m~~~P.. i~ 14. Upon t6e request of the Mortgagee the Mortgegor shall execute and deliver a supplemental note or notes for the sum or sums advanced by the :4tortgagee tor the alteration, modernization, improvcment, main- tenance, or repair of said premises, for taxes or as.Qessments against the same and for any other pury~ose author ~ ized 6ereunder. Said note or notes shall be secured hereby on e parity with and as fully a~~f the advance ~ evidenced thereby were included in the note first described sbove. Said supplemental note or notes shall bear interest st t6e rste provided for in the principal indebtedness and shnll be payable in ap procimately equal ~ monthly payments for such period ss may be agreed upon by the creditor and debtor. Fail"uig to agree on the ~ maturity, the whole of the sum or sums so advanced shall bc due and pa~able thirty (30) days aftcr demand by the creditor. In no event ahsll t6e maturity ext,end beyond the ultimate n~aturity of tbe note first described sbove. 800lt ~~O PAGE ~(7~~ ~ ' ~ . _ ~ ~ ; ~ . : _ . ' ~ .L