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Home My WebLink About1019 tender to the 1ltortgegee i~ accordsnce with the pwvisiOn9 ot the note~ secured herel,~•, full pxruienl of the entire indebteduess represented thereb~, the Mortgagee, as~ trustee, ahall, in computii~g the ai~iount of such indebteclnesa, cn~iit to the account ot tlie :~lortgegor an~• cred~t balance remsining un~ler the provisions of (a} o[ seid para~raph 2. I( tl~ere shall be s delault under sh~• of tiie provisions of this ~i~ortgsgc~ rnsulting iti e public sale o( the premises covered hPreb~•, or it the Mortgagre acQwres the propert~~ oti?erN•ise after clefault, the Mottgagc~e, sa truatee~ shaU eppl,y, at the time of the commencement of such proceedin~ or at ti?e tit~u~ the propert~ ia otherwise acquirecl, the amount then ren~aining to crndit of 1~iortgagor und~r (a) ot E~aragraph 2 preceding as a credit on ihe intereat accrued end unpaid snd the bslBnce to tt~e principa) then ten~sinin~ unpai~l on said note. 4. He will psy all tau~ee, aeeeeamenta~ water rat~es~ and other governmental or municipal chsrgee~ fiaes~ or impoeitions, for whieb proviaion haa not bean made hereinbefore, and in default thereof the Mottgsgee msy pe~y t6e eame; aad t~hst he will prompt~y deliver the o~ciat reoeipt~ therefor to the Mortgagee. 5. He will permit, oommit, or auHer ao waate, ianpairment, or deterioration of eaid property or any pstt thereof~ except reasonabie wear snd tear; and in the event ot the tsilure oi the Mortgagor to lceep the buildia~e on asid premieee and thoee to be erected on eaid premieee, or improvemente thereon, in good repair the Mortgsgee msy mske euch r8paiia ae in ita dieuretioa it msy deem neceeeary for the proper preeervation thereo~, and the full amount of each and every eueh payment shall be due snd pqysble thirty (30) daye after demand, and ehali be eecured by the lien of this mortgage. 6. He will pay all and eingulsr the ooeta, ge~ ~ aad e~cpenses, i~cluding reesonable lawyer's feea, and aoste of abetrs~cta of title, incurnd ot psidat aqy time b~ y the Mortgagee because of the failure on the part of the Mortgagor promptly and fully to perform t 6e agreementa sn d'covenants o f eai d promieeory note and this mortgage, and eai d ~ oosta, charges, and expem9ea ahall be immediately due aad payable and ahatl be eecured by the lien of this mortgage. 7. He will oontinuously msintain hazard insurance, oi auch Lype or typea snd smounte as Mortgagee msy : irom time to time require, on the improvements now or hereafter on said premises and escept when payment ; for all such preaniums has theretofore been made under (a) oi paragraph 2 hereof ~e will pay prompWy when ~ due any premiums thcrefor. All insurance shall be carried in oompanies approvec~ by I11o ee and the I~- ; ciea and renewals thereof shc?ll be held by Mortgagee and hsve attached therato tosa payable c auses in favor of and in form acceptable to the Mortgagee. In event of losa he wi~ll give immediate notice by mail to Mortgagee, and i~iortgagee may make .proof of loss if not made pmmptly by Mortgagor, and each insurance oompany ooncerned is herebq~authorized and directed to make payment for such losa directly t,o Mortgagee instead of to liortgagor snd Mortgagee loinWy ~ and the insuranoe pmcceds, or any part thereof, may be applied by Mor~ gagee at ita option either to the reduction of Lhe indebtedne~s hereby secured or to t6e restorat~on or repair of the property dsmaped. In event of forecloaure of this mortgage or other transfer of title to the mortgaged property in extingu~shment oi t6e indebtedneas secured hereby, af 1 right, title~ and intereat of the Mortgagor ~ m and t~ any insuraace policies then in fotce shall pnss Lo the purchaser or grantee. ; 8. If the pn~misc~s, or ant- part tl~creof, be coi~denined under the power o! eminent doniain, or acq~~ir~d for a public use, tlie daiuages auarded, tL~ proceeds for the taking of, or the consideration for sucli acquisition, to `s the cxtent of the full a~~iount of the rcniaining unpaid indebtedness secured b~• this uiortgag~, are liernb~• ~ sssig~ied to the Aiortgagee, end his heirs or assigns, and shall be paid torthwith to said :ltortgagee or ?iis assi~nee to l~e appliect on aec•ount of the l~st inaturing installnients oi sueli indebtedness; pmvided, }ioKC~~er, the ~~ortgugee or hes assignee, ma~• st his discretion pA~ direct to tl~e Vlortgagor,l?is i?eirs or a.ssigns an~ part or all of suc}i awani; provided, that ii the loan is guaranteed or insurecl, the consent of the guarantor or insurer is obt sined in advance of said pa~ uient. 9• The tiiortgagee may, at any time pending a suit upon this mortgage~ apply to the oourt having jurisdiction thereof for the appointment of a receiver, and sach court shall forthwith appoint a receiver of the premises oovered hereby atl arid singular, including all and aingular the income, proSts, issues, and revenues from whatever aource derived, each and every of which~ it being expressly understood, is hereby mortgaged sa if specifically eet forth and described in the granting and habendum clauaes hereof. Such appointment shail be made by such oourt ss an admitted equity and a matter of absolute right to said Morigagee, and withoat reference to the adequacy or inadequacy of the vslue of the property mortgaged or to the solvency or insolvency of said Mortgagor or t'~e defendants. Such rents, profita, income, issues, and revenues shall be appliec! by such reoeiver according to the lien of this mortgage and the practice of such court. In t6e event of any default on the part of the Mortgagor hereunder, the Mortgagor agrees to pay to the Mortgsgee on demaBd as a ressonable monthly rental for the premiees an amount at least equivalent to one-twelfth (}~2) of the aggregate of the twelve monthly installments payable in the then curtent year plus the actual amount of the annual taxea, as~smente, water rstea, and insurance premiums for such year not covered by the aforesaid monthty paymenta. 10. In t6e event of any bteach of this mortgage or defautt on the part of the Mortgagor; or in the event that any of said sums of money herein refened to be not pmmptly and fully paid according to the tenor hereof, or in the ' event that each and every the atipulations, agreements, conditione, and oovenants 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 acerued to that time, and all moneye secured hereby, ahall become ; due and payabte forthwith, or thereafter~ at the option of said Mortgagee, as fully and completely as if all of the said aums of money were originally stipulated to be paid on such day, anyLhing 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 prosecuted as if all moneys secured hereby had maLur~d prior to ita institu- i tion. The Aiortgagee may forEClose this mortgage, sa to the amount so declared due and payable, and tbe said premiees shall be sold to satisfy and pay the same together with oosts, eapenses, and allowances. In case of pattial ; foreclosure of this mortgage, the mortgaged premisea ~shall be eold subject to the continuing Uen of this mortgage ; for t6e amouat of the debt not then due and unpaid. In such case the pravisions of thia paragraph may again be availed of theresfter fmm time to time by the Mortgagee. ~ l 1_ No waiver of any covenant herein or of the obligation secured hereb~ sl~all at any time thereafter be held ; to be a waiver of the terma hereof or of the note eecured hereby. t2. The lien of thia inatrument shall remain in full force and effect during any pc>stponement or extenaion of the time of payment of the indebtedness or any part thereof eecured hereby. i 1:3. If the biortgagor default in any of the covenanta or agreements contained herein, ar in aaid note, then the ~ Mortgagee may perform the same, and all ezpenditures (including reasonable attorney's fees) made by the ;~iortga~ee in eo doing shall draw interest at the rate provided for in the principal indebtedness, and shall be repa~•able ~ thirty (30) days after demand, and, together witli interest and coscs acerued thereon~ shall be secured by ' this mortgage. ~ f 14. Upon t6e requeat of the biortgagee the biortgagor shall execute and deliver a supplemental note or notes for the sum or suma ad~•anced by tbe \tortgegee for Lhe alteration, modernization, impro~ ement, main- ` tenance, or repeir of said premises, (or taxes or as.~essments against the same and for any othec purpose author- ' ized hereunder. Said note or notes shall be secured hereby on a parity with and as fuily as if the ad~ ance s evidenced thereby were incIuded in the note first described above. Said supplemental note or notes s}iall bear i interest at the rate provided for in the principal indebtedness and shall be payable in appro!cimately equal ° monthly payments for such period as may be a~reed upon by the creditor and debtor. Failin~ to agree on the ' maturity, the whole o( the sum or sums so ad~ anced shall be due and pa~ able thirty (30) days after demand _ by the creditor. In no event siiail the maturity extend beyond che ultimete rsaLurity oi the note 6rst deecribed sbove. BflGi ~~iG.~ Pt~Gf ~ - - - w~ , ~ ~ ~ ' ~ ~ ~ g: ~ : 5 ~ c. 5`~~;~,.:..-.,sr~'~~~~~,~,r_