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Home My WebLink About1025 tender to the b~lortgagee in ucconlence with ~the provisiona o! tl?e notc~ becured h~~r~t,~•, full payment ot tlu~ ~enlire indebtedneas represented thereb~•, the ;41ort~eigee, as trustee, shall; in con?puli~ig tl?e au?ount u~ such indebtedness~ credit to the accouut oi tLe hiortgago~ an~~ crc~tit balance reinaini~?~ uud~~r tl« provisions oi (a) ot aeid paregraph 2. If there shall be a default under anr of thc pro~isiona of this u?ortga~?e resultiug in a public sal~ of the premises covered hereb~, or if t~he hiortgage~ acqu~res the propert~• otherH•ue aft~r de(sult, the MortgagE+e, ss truatee, ahall apply, at the time of the couimencement ot such proce~lings or at the tini~ the propert~• ia otherwise ucyuired, the amount then remaining lo credit of ?1lortga~or under (s) ot paragraph 2 preceding as s credit on the intereat. sccruc~l and unpeid and the balance 1o U?e principal ihen rnmainu?g unpaici on said nate. ' 4. He wiU psy sll ta:es, aeeeesments, wster rstee, and other governmentaI or municipal ehargee, 6nes~ or impositione, for which pmviaion haa no~ been made herei.nbefore, and in default thereof the Mortgagee may psy the asme; end thst he will promptJ,~r deliver the o~cisl reoeipti~ therefor to the Mortgagee. b. He will permit~ oommit, or suHer no waste, impairment, or deterioratioa of eaid pmperty or any part thereof eacept reaeonable weur sad tear; and in t6e evenL of the failure ot the Mort$sgor to keep the building~s on eaic~ premisea and thoee to be erected on said premieee, or improvements thereon, in good repair the Mortgagee may make such repairs as in ite diecretion it msy deem neoeaeary for the proper preeervation thereo~, and the full amount of each and every such payment a6all be due uad psy~?ble thirty (30) daye after demand, and ehaq be eecured by the lien of this mortgage. 6. He will pay all and singulsr the coete, ~ and e:pensee, including reseonable lawyer'a fcea, and ~oste of abetr~cts of title, ineurred or paid at any time by t e Mortgagee becauae of the failure on the part of the Mortgagor promptly and fully to perform the agreements and covenants of esid promieeory note and thie mortgage~ and said ooata, chargee, and expen~~hptl be immediately due and pay able and shall be eecured by the lien of fhis mortgage. 7. He will oontinuoualy maintain 6azai~d insurance, of such type or types and amounts as Mortgagee msy fmm tune to time require, on the improvementa now or Lereafter on said premises and except when payment tor all such premiums has theretofore been made under (e) of paragraph 2 hereot 'he will pay promptly when due any premiums thcrefor. All insurance ahall be carried in companiea approve~ by l~iort~aqee and the poli- cies and renewals thereof sha,ll be held by Mortgagee and hsve attached thereto loea payable ctauaee in favor of and in form acceptable to Lhe Mortqagee. In event of loss he will give immediate notice by mail to Mortgagee, and Mortgagee may make proof o~ Ioss if not made pramptly by Mortgag~or, and each inswance company concerned is hereby~authorized and directed to make payment for such loes directly to Mortgagee instead of to 4lortgsgor and Mortgagee ointly , and the inaurance proceeda, or sny part thereof, may be applied by Mor~ gagee at ita option either to t~e reduction of the indebtedness hereby secured or to the restorat?on or repair of the property dama~ed. In event of foreclosure oi t6is mortgage or other transfer of title to the mortgaged property in ea~tinguis6ment oi the indebtedneas secured hereby, a~ll right, title, and intereat of the Mortgagor m and to any insurance policies then in force shall pass to the purchaser or grantee. 8. If the prnmises, or an~• paM thereo~, be conden~ned under the poHer of en~inent domain, or acquired for a public use, tl?e cta~~~ages awarded, tl?e proc~eeds !or the taki~ig o(, or the consideration for surl? acquuitiou, to th~ cxte~it of the full amount of tl~e remaining unpaid indebtedness secured b~• this inortgage, are i~ernb~• as~igned to tl~e ~iortgagee, and his heirs or ~ssigns, and shall be paid forthwith to seid :1lortgagee or his assignee to t~ appliecl on account o[ the last inaturmg installments of such indebtedness; pm~ided, howc~er, ~ the ~iortgagee or his assignee, ~ua~• at his~discmtion pa~• direct to the ~iortgagor, his hei~ or assiRns an~• part. or ait of sucti aw•arci; pro~~ded, that if thF loan is ~uaranteed or insured, the consent o[ the guarantor or insurer is obtained iiz nd~ance of said pa~•u~ent. 9- The Mortgagee may~ at any time pending a suit upon this mortgage, apply to the oourt hsving jurisdiction thereof for the appointment of s receiver, and such oourt ahall forthwith appoint a receiver of the premises covered hereby sll and singular~ including all and singiilar the income, proSta, issues~ and revenues from whatever source derived, cach and every of which~ it being expressly understood, is hereby mort$aged ss if spec~Scally set forth and described in the granting and habendum clauses hereof. Such appointment ahall be made by such court as an admitted ! equity and a matter of absolute right to said Mortgagee, and without reference to the adequacy or inadequacy of j the value of the property mortgaged or to the solvency or ineolvency of said Mortgagor or the defendants. Such ~ rents, proSts, income, issues, and revenues ahall be applied by such receiver according to the lien of this mortgage ~ and the practice of suc6 court. In the event of any default on the part of the Mortgagor hereunder, the Mortgagor ; agrees to pay to the Mortgagee on demand as a reasonable monthly rental for the premises an amount at least ; equivalent to one-twelfth (~2) of the aggregate of the twelve monthly installmenta payable in the then current ~ year plus the actusl amount of the annual taxea, asses~nents, water rates, and insurance pcemiums for such year ~ not covered by the aforesaid monthly pa~ ments. ~ i 0. In the event of any breach of this mortgage or default on the part of the Mortgagor; or in the event that ~ any of said sums of money herein referred to be not promptly and fully paid according to the tenor 6ereof, or in the event that each and every the atipulations, agreements, conditiona, and covenants of said note and this mortgsge, ~ are not duly, promptly, and fully performed; then in either or any such event, the said aggregate 8um mentioned in said note then mmaining unpaid, with interest accrued to that time, and all moneya secured hereby, shall become ~ due and payable forthwith, or thereafter, at the option of said Mortgagee, as fully and completely as if all of the said sums of money were originally stipulated to be paid on such day~ anyLhing in said note or in this mortgage to the contrary notwithatanding; and thereupon or thereafter~ at the option of said Mortgagee, without notice or demand, suit st Iaw or in equity, may be prosecuted as if all moneys secured hereby had matured prior to ita institu- tion. 'fhe ~Sortgagee may forecloee this mortgage, as to the amount eo declared due and payable, and the said premises ahall be sold to satisfy and pa~ the same together with oosta, eapenses, and allowances. In csse of partial ~ forec~osure of this mortgage, the mortgaged premises ahall be eold subject to the continuing lien of this mortgage ~ for the amount of the debt not then due and unpsid. In auc6 case the provisions of this paragraph may again be availed of thereafter from time to time by the Mortgagce. . ~ 11. No waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held ~ to be a waiver of the terms hereof or of the note secured hereby. 12. The lien of thia instrument ahall remain in full force and ePfect during any postponement or extension of ~3 the time of pay-ment of the indebtednese or anS part thereof aecured hereby. = 13. If the Mortgagor default in any of the covenants or agreements oont,~ined hemin, or in said note, then the : Mortgagee may perform the eame, and all expenditures (including reasonable attorney's fees) made by the MortgaRee ~ in ao doing shall draw interest at the rate provided for in the principnl indebtedness, and shall be repa~•able thirty (30) days after demand, and, together with interest and costs accrued thereon, shall be secured by ~ _ this mortgage. 14. Upon the request of the 141ortgagee the Mortgagor shalt execute and deliver a supplemental note or notes for the sum or sums ad~ anced by the ltortgegee for the alteraiion, modernization, impro~ cment, rnain- 'y;~; tenance, or repair of said premises, for taxes or as.aPSSments against the same and for any other purpose aut,hor- - ized hereunder. Said note or notes sl?all be secured hereb~ on a parity with and as fu11y as if the ad~ ance evidenced thereby were included in the notE 6rst described above. Said supplemental note or notes shall bear ~ interest at the rete provided for in the principal indebtedness pnd s6all be payable in apgm~imately equal monthly pay ments for such period as may be agreed upon by the creditor and debtor. Fail'u~ to agrec on the maturity~ the vrhole of the aum or sums so ad~anced shall be due snd pa~able thirts (30) days after demand by the creditor. In no event shall the maturity extend beyond the ultimate r~aturity of the note first deecribed sbove. ~o~Kzzz ~~EiozS ~ ~ ~ , ~ ~ ~ ~ w.. `~*~y~. '~R. S 4 - a S ~ -1Lt~6 _ - y^ x -v~'~`i: £!'~.~,~G. ~-X..3„~ _s1 ~,~t°~-~ _ ~'r, ~ _ _ ~