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Home My WebLink About1795 ANO the said Mortgagor herebr covenonts and ogrees with the soid Mortgogee as follows: FIRST: That the Mortgogor is lawfully seizcd of the obave described prem~ses in fee simple a~d hos good r~ght fo sell ond convey fhe Some to the Mortgagee; that the said premises are free ond dischorged of and from all toxes, tox titles or certificates, judgments, mechanit's liens a~d encumbronces of any nature or kind whatsoever and that the Mortgogo~ will fully wor~ant ond defend fhe same to the Mortgagee, against the lowful cloims ond demands of oll persons whomsoever, ond will moke such further assurarxes to perfecl fee simple title to soid lo~d, in the Mortgogee, as may ~easonable be required, ond will poy the several s~ms of money agreed in the said note to be paid ond oll instollments of principat ond interest thereon promptly when due, ond accord~ng to the trve tenor and affect of the said note. SECOND: Thot the Mortgagor will pay all ond singulo? the taxes, ossessments, ~evies, and encumbrorxes of eve~y nature ~ on the above described property, and ~pon this mortgoge ond.note, or the money secured thereby. before delinquerxy thereof ond receipts eviderxing poyment of soid taxes, assessments, levies a~d erxumbrantes shall be deposited with the Mortgagee on or before Morch lst of each succeedeng year duri~g fhe term of this mortgage; ond if some be nof promptly paid when due, the Mortgagee moy (Without obligation to do so) pay the some, or become pu?chaser of ony lowful evidence the~eof, or certificote therefor, without waiving o? affetting any right hereunder ond in this mortgoge, or the soid note which this mortgage setures; artd such payments or expenditures so made shall bear interest from the date thereof at fhe rate of eight per centum (8°fo) per ann~m. THIRD: Thot the Mortgogo~ will keep all real and personal praperty now or hereafter encumbered by the lien of this nwrtgage insured as may be required from time to time by the Mortgagee against bss by fire, windstorm and other hoza~ds, casualfies and contingencies for such periods and for not less than such amounts os may be required by the Mortgagee and to poy promptly when due oll premiums for such insura~ce. The amounts of such insurance required br the Mortgagee are expressive of onlr the minimum amounts for which said insurance sholl be wriffen and it sholl be incumbent upon the Mortgagor to maintoin such additional insuronce as moy be necessary to meet and comply fully with all co-insurance requirements contained in soid policies to the end fhaf said Morigagor is nof o co-insuror thereunder. Insurarxe shall be written br a tompany or componies approved br fhe Mongagee and all policies and renewals thereof shall be held by ?he Mortgagee. All detoiled designations by the Mortgagor which ore occepted by the Mortgagee ond all ogreements between Mortgagor ond Mortgagee retating to insurance, now existing or hereafter made, shall be in writing and sholl be o pon of this mortgage agreement as fully as though set forth verbatim he~ein and shall govern both paAies hereto and their successon and assigns. No lien upon ony of said policies of insur6nce or upon any refund or return premium which moy be poyable on the cancellation or termination thereof, shall be given to other thon the Mort- gagee, except by proper endonemenf afFixed to such policy and approved by Mortgagee. Each policy of insurance shall have af~ixed thereto a Standard Mortgagee Clause ol~eptoble to the Mortgagee, making all loss or losses under such policy payable to the Mortgagee as its interest may appear. In the event anr sum or sums of money become payoble thereunder the Mortgogee shall have the option to receive and apply the same on account of the indebtedness hereby secured, or to permit the Mortgagor to receive and use it, or any parf thereof, without thereby waiving or impairing ony equity, lien or right u~der and by virtue of this mo~tgage. In event of loss or physital damage to the mortgaged property the Mortgagor shall give immediate notice thereof by mail to ihe Mortgagee and the Mortgagee moy make proof of loss if the same is not mode promptly by the Mortgagor. In event of foreclosure of this mortgage or other transfer of titte to the mortgaged property in extinguishment of the indebtednes: secured hereby, oll right, title and inferesf of the Mortgagor in and to any insurante policies then in force shall pass to the purthoser or grantee. Upon any default thereof, the Mortgagee may (but without obligotion on its part so to do) place insuronce on such buildings and poy the premium and thorge such sums so paid to the Mortgagor and such sums of money so paid shall bear interest from the date of payment at the rate of eight pe~ centum (8~) pe~ annum. i E FOURTH: That all sums of money poid or cauzed to be paid by the Mortgagee under the ?erms of this mortgage ond herein i E specifically provided for, and including anr eapenses incurred by the Mortgagee in collection ~f the sum secured by this mortgage, ~ shall be covered by the lien of this mortgage, ihe same as the sums of money represented by the note which this mortgage secures. ~ FIFTH: To permit, commit or suf'Fer no waste, impoirment or deterioration of said propertr, or ony part thereof, and upon ~ the failure of the Mortgagor to keep the buildings on said property in good tondition of repair, ffie Mortgogee may demand the ~mmediate repair of said buildings, or ar~ increase in the emount of security, or the immediale repayment of the debt hereby ~ secured, and the failure of the Mortgagor to comply with said demand of the Mortgagee for a period of fifteen (15) days shall ~ constitute a breach of this mortgage, and, at the option of ihe Mortgagee, immediofely mature the entise unpaid principal and interest hereby secured, and the Mortgagee may, without notice, institute proceedings to foreclose this mortgage, and apply for the appointment of a receiver, as hereinafter provided. ~ SIXTH: That the Mortgagor hereby promises, covenonts ond agrees to pay the sums of moner and interest os mentioned in said promissory note, together with any and ell other sums justly due ond awing the Mortgagee by the terms therei~, and secured to be paid as stoted therein promptly when due. If defoult shal: be made in the payment of the said s~ms of money or anr part ~ thereof as provided in the said note or fhis mortgage, or if the interest that may become due thereon or any part thereof shall be ~ in default and unpaid for a space of fifteen (1S) days, or should the Mortgagor breach or fail to comply with any other covenant ~ or agreement on the part of the Mortgagor to be complied with (in those cases in which the option of the Mortgagee of accelera- ~ tion is not otherwise expressly provided herein) and such breoch or non-compliance continue in existence for a space of fifteen (15) days, then and from therxeforth, at the option of the Mortgogee ond withous notite to the Mortgagor, the whole of said printipal sum expressed in said note, together wifh all other sums therein as well as herein provided for, sholl become immediately due and payable, without notice to the said Mortgago?. 5_;; ~ SEVENTH: That in case if should betome necessary to ploce fhis mortgage and the note secured hereby or eifher of them, ~ in the hands of on ottorney for collection, the said Mortgagor covenants and agrees with the Mortgagee to poy all costs, charges ~ and expenses of such collectan, including reasonable attomey's fees whether collected by foredosure or otherwise. ~ ~z' EIGHTH: That, in the event any suit is brought upon this mortgoge, whether to foredose it, ro reform it, or otherwise, ~ and o~ to enforce porment of any claim hereunder, the Mortgagee may apply to any co~rt having jurisdiction thereof for the appointment of o receiver of said mortgaged property, as well as the income, profits, iss~es ond reven~es thereof, ond the said ~ ~ UR ~~:Y - ~ - eoo~ 2~'.2 ~i79~ ~..a. ~ = - ~ - - ~ ~_~.~s ~ ~ _ _