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Home My WebLink About1030 ~ender to the hiortga~ee in acconla~~ct~'with the prov'isioi~s u~ the note M•cumci h~~r~•b~•, tull pa~•u?ent ot tl?e entire indebtednesa rnprNSented thereLl•, the Mortgugee; aa trustee, shall, in cou~putiiig tl~e amount of such indebtedness~ erei~it ta the account of 1~?e :~iortga~or an~ credil balance remaining undt•r the ~ro~•isions of (aj ot said paragraph 2. I( therP shell be a default undc~r any o[ the provisiona of lhis n?ortga~e~ resuiting in a public eslo of the premises covered hereby, or if the Iliortgagee acquurs the {~ropert~• otl?crw•~sr aft~~~ default, the 1~fortRagee, e~a lruatee, ahaU appl~~~ et the tuue ot the comiiit~ncement of such proc•eediu~x ur at the timc~ the propert~ is otherwisc~ acquired, tlie amount ti?en remaining to credit af ~iortgagor ur~der (a) o( ~~aragrapli 2 preceding aa a crndit on the intereat accrued and unpaec! anci the balance to the principal then rnii~ainin~ unpa~d on aaid note. 4. He wiU psy all tuxee, aeeeaemente, wster rates, and other goveramental or municipal chsr~ee~ fines, ar impositione, for which provision has not 6eea made hereinbefore~ ~nd in detault thereuf the Mortgagee may pay the seme; e?nd t,6~?t 6e will promptly deliver the officiat reoeiptt~ therefor to the Mottgag~ee. ~ F S. He will permiL, oommit~ or suHer no waste~ ianpairment~ or detsrioration oi eaid property or any patt thereof, eacept reasoneble wear and te~ur; and in the event of Lhe failure of the Mortgagor to keep the buildinga on said prEmises and thaee to be erected on eaid premieee, or ianprovementa thereon, in good tepair, the Mortgagee may make such repaire sa in ita diecretion it msy deem neoeeeary for the proper preeervation thereof~ and t6e full amount - of each and every such payment ahall be due and pe?yable thirty (30) daye sfter demand, and ehall be eecured by the lien of thia mortgage. 6. He wit[ pay all and einguter the oosta, ~ and e:pensee, including ressonable lswyer'a feee, and coste ; of abetr~cts of title~ incuned or peid at any time by t e 1liortgagee because oi the failure on the part of the Mottgagor ' promptl3 and fuUy to perforan the agreements and covenants of said promieeory note and this mortgage, and said ooste, charges, and expenseeahalj be immediately due and psyable and shall be eecured by the lien of tbis mortgAge, 7. He wiU oontinuous~+ maintain hazard insuranoe, of such type or types and amounts ua Mortgagee mey from time to tinne require~ on the impmvements now or hereafter on said premisea snd etcept when payment for all auch premiums bas theretofore been made under (a) of paragrspL 2 hereof ~he will pay prompWy when due any premiums thcrefor. All insurance shall be canied in oompanies approve~ by 111ortgages and the poli- ciea and renewaLs thereof ahaU be held by Mortgagee and have attached Lhereto loss payable ctaasee in favor of and in form acceptable to the Asortgagee. In event of loss he will give immediste notice by mail to Mortgagee, and ~iortgagee may. make praof o3 toss if not made promptly by Mortgagor, and each inaurance oompany concerned is hereb authorized and directed to make payment for such loss directly to Mortgagee instead of to Mortgagor and ~iortgagee jointly, and the inaurance proceeds, or any part thereof, may be applied by Morw gages at iLa opiion either to the reduction oi the indebtedness hereby eecured or to the restoration or repair of the property dama~ed. In event oi forecloeure of this mortgage or othar tranafer of title to the mortgaged property in extiu?gu~shment oi the indebt,edneae eecured hereby, a~l right, Litte, and interest oi the Mortgagor m and to any insurance policiea then in force shall p~ss to the purchaser or grsntee. 8. If tl?e pre~oises, or an~- ~art themof. lx• ~ondemned under U~e poH~~r of eminent donisin, or acquimd for a public use, tlic~ daniages aKarded. the pro~~eeds [or tl?e taking o[, or the consideration [or sucli acquisition, to . ihP cxtent ~f tt~e full s~nount of thc rernaining unpai~l indebt~dness secured b~ this ~i~ortga~e, are l~creb~- assigned to the liortgagee, and Lis I?eirs or assig~~.s, and shall be paici forthwith to said :lfortgagee or his assignee tu be appliect on acc•ount of the last ~~iaturing ins1a11ments of sucl? indebteciness; pro~i~~ed, liowe~er, the \lortgagee or his assignee, uis~ at his discretion pa~- dvect to tl?e ~iortga~*,or, l~is 1?eirs or ~ssigns an~ part or alt of such aNar~i; pm~ i~led, that i[ th~ loan is guarante~d or insured, the consent of the guarantor or insurer is obtained in ad~~anc~ of said pa~•inent. The Mortgagee may, at any time pending a auit upon this mortgage, apply to the oourt having juriediction thereof for the $ppointment of a rec~eiver~ and such court ahall fdrtbwith appoint a receiver of the premises covered hereb~ all and aingular, including all and aingular the income, profits~ isaues, and revenuee from whatever source derived, each and every of which, it being expressly underatood, is hereby mortgaged as if speciScally set forth and described in the granting snd habendum clauses hereof. Such appointment shall be made by such court as an admitted equity and a matter of absolute righL to said Mortgagee, and without reference to t6e adequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or the defendants. Such rents, profite, income, isaues~ a.nd revenues shall be applietil bp such receiver eccording to the lien of this mortgage and the practice of such court. In the event of any default on the pert of the Mortgagor hereunder~ the Mortgagor agc+ee.s to pay to the 141ortgagee on demand as a reasonable monthly rental for the premiees an amount at least eq~uvalent to one-twelfth (~2) of the aggregate of the tv~elve monthly installmenta payable in the then cwrent year plus the actuel amount of the annual tax~ asaessmenta, water rates~ and insuranoe premiums for euch year not covered by the afoc~esaid montWy pa~~ments. ; tU. In the evetit of any breach of this mortgage or defautt on the psrt 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 fiereof, or in the event that each and every the atipulations, agreementa, conditione, and oovenants of said note ~nd this mortgage, are not duly, promptly, and fuUy performed; then in either or any such event~ the said aggregate sum mentioned in said note then remaining unpaid, with interest accrued Lo that time, and sll moneya secured hereby, shall become due and payable forthwith, or thereaft,er, at the option of said Mortgagee, as fully and completely as if all of the eaid sums of money were originally atipulatcd to be paid on such day, anyLhing in sa.id note or in this mortgage to E the contrary notwithstanding; aad thereupon or thereafter, at the option of said Mortgsgee, withoat notice or demand, suit at law or in equity, may be prosecuted as if all moneya secw~ed hereby had matured prior to its institn- teon. The 1?iortgagee may foreclose chia mortgage, as to the amount ~o declared due and pa~able, and the said premises ahsll be sold to satisfy and pay the same together with c:oata~ eapenses, and allowances. In case af partiat foreclosure of this mortgage~ the mortgaged premises shall be ~old subject to Lhe continuing lien of this mortgage for the amount of the debt not then dae and unpaid. In such caee the provisions of this paragraph may again be availed of thereafter from time to tune by the Mortgagee. F 11. No waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be 6eld to be a waiver of the term$ hereof or of the note aecured hereby. 1'?. The lien of this instrument shsll remain in full force and eRect during any postponement or extension of the time of payment of the indebte~ness or any part thereof securec~ hereby. 13. If the iiortgagor defeuit in any of the rnvenanta or agreements contained herein, or in said note, then the Mortgagee may perfora~ the same, and all expenditures (including ressonable attorney'e fees) made by the 11Sortga~ee in so doing shall draW interest at the rate pmvided for in the principul indebtedness, and shall be rnpa~•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 Mortgagee the 4lortga~or shal! ~ecute and deliver a supplemental note or notes for the sum or sums ad~ance~~ by tbe liortgagec for the alteration, modcrnizat,ion, improvement, main- tenance, or repair oi said premises, for taxes or as,~essments against the same and for any other purpose author- ized hereunder. Said note or notes shall be secured hereb~ on a parity with and as fully as if the ad~•ance evidenced thereb3 were included in t~ie note first described above. Said supplemental note or notes shall bear interest at the rate provided !or in the principal indebtedness and shall be pa~ able in ap prosimatel~ equal monthly pay•ments for such period as may be agreed upon by the creditor and deblor. Failing to agree on the matunty, the whole of the sum or si~ms so ad~anced shall be due and parable thirt3• (30) dQys after c)emand by t6e creditor. In no eveat shal! the maiurity extend beyond the ultimats rasturity o[ the note first described ebove. ~ooK 222 ~E~.03~ , ~ Z > . ; ' 3 ' rA~ ~ <r.:;... f = ~ ~ a ~,~~~.f ~ ~ _ > r~_.~ . ~