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Home My WebLink About2282 . . tender to the Mortgagee in sccaniance v~ith the provisio~a nf tl~e note secured 1~Preb~~ !uU pa~ uient of tlie entire indebtednesa reprnsen~ed tl~erPb~•~ the ~lortgagee, as trustee, sl~all, in co~nputing the einount of aucl~ indeblednesa~ cr~dit to the eccou~t o[ tLe :~tortga~?ur any creciil balar.~e rnmau~ing under the' pro~•isions o[ (e~) . o( eaid paragraph 2. It there shall be a de[ault under a~~ ot the pmvisioiis of tLis ~nortgage resultinK in a public sale o[ tl?e premi~es co~~ernd hereb~~~ or if the I~iortgsgee Acqwres the propert~ otherv?~se a(t~r default, the Mortga~;eP~ as trustc~•~ shail appl~, e6 the time of the co~nmencement o[ such ptoceedings or at the timt? the propertl is othPrwisc scyuired, the smount then an•n~ainin~ to credit of riortgugor under (e) of ~ar~rapl? 2 preceding as a credit ua tlio inter~~st accrued and unp~id and tlie bnlsnre to tLo principal then reuiaiiiing unpaid on esid notr. ' 4. He will pay all taxee, m+~aeeemente, water rstee, and other governmental or municipal cha*ges, finea or impoeitions, for ahich provieion bsa not becn made hereinbefore~ snd in default~ thereof t,he Mortgagce mny pay the eame; snd that he ~vill promptly deliver the oS'icial n~oeipta thereior to the Mortgagee. b. He will permit, oommit~ or aufter no waate, impairment, or deterioration of eaid property or any part thcreof~ except reasonabie wear and tcar; and ia the event, of t6e failure of the biortgagor to kecp the buildmgs on eaid pmmisee and thoee to be erected oa eaid premisea, or improvemeats thereon, in good repair the Mortgagee msy make euch tepaire ae in ita discretion it may deem nece~ary for the proper pre9erva•.ioa thereo~~ tsnd the full amount of each ~?nd every such payment shall be due and payat~le thirty (30) days aft~er deunand, and shall be eecured by the lien oi thia mortgaga. , 6. He will pay all and aingular the oosta, cLsrg~, and eupenst~ including reasonable lawyer'e feee, and ooste of sbetrxcts o( title, incurred or paid at any time by tbe 1liortgagee because of the failure on the part of the Mortgagor pramptly end fully to perform the agreements and oovenants of eaid promieeory notc and this mortgege, and said ooste, c6arges, and expenses ahall be immediate~jr due snd payable and ahall be eecured by the lien of this mortgage. T, Ae will oonti~nuoue~y maintain Lasard inaursnce, of euch type or types and tumounts as :Viortgagee may from time to time require, on the improvements now or hereafter on eaid premises and e~cept ahen payment tor sll such premiums has tberetofore been made under (s) of psragreFh 2 Lereoi ~e will pay promptly wheQ due any premiums Lhcrefor. All insuraace shall be carried in oompewies spprove~ by 111ortgagoe and the poli- cies sad renewals thereof shull be held by Mortgagee aad have st~sched t6ereto loes payable clauses in fsvor o~ snd in form acceptable to the Mortgagee. In e~ent of loss he will give immediate notice by mail to riortgagee, and biortgagee may make _proof o~ Toes if not made pmmptly by Mortgagorl snd e~ach insurance oompany eoncerned ia hereby_authonzed and directed to make payment for guch loes du~ecUy to Mortga~e~e instead of to l~lortgagor and Mortgagee joiatly, and the insurance proceeda, or any part thereof iney be applied by Morw gsgee at its option either to tbe reduction of tbe indebtedneea Lereby secured or to t~e restorat~on or repair of the property dsma~ed. In event oi foreclosure of t~hia mortgage or otLe~r tnnafer of title b the mortgaged proparty in eitingu~sbrnent ot the indebtednees eecuced hersby, a~l right, title. and intere~t of the Mortgsgor ia sad to aqy iosurance policies tbsn in foroe sLall p9ss to the purcbseer or ~antee. 8. Tf tl~e premises, or anr part tl~ereot, be condenmed under the power of eminent domain or acc~uircd for a public use, tlie dan~ages awarded, tl~e proceeda for the taking of or the consideration for suc•f~ arquw~tion~ to the extent of tlie tull amount of thp remaining unpaid indebte'dness secured b~ this mottga~~, ar~ 1?ercb~ assigned to t1~e Mortgagee, snd his t?eus or asaigns, and shall be psid torthwith to said ~Viortga~e~ or lus ass~gnee to be applied on account of the lsst ~natunng instsllments of such indebtrdness; provi~ied,1?ovre~er, the Mortgegee or h~s assi~nee~ ~nay at~ his discre~ion pa~ direct to the Mortgagor, liis licirs ur ussigns un~ pnr6 or all o[ sucli aw-arcl; provided, that if the loan is guatsntred or insured, tl?e consent ot Uie guurai?tor ar insurer is obtained in advance oi said pa~-~nent,. i 9. The Mortgagee may, st sny tiane pending s euit upon tbis mortgsge, spply to tbe eourt hs~ing jwiediction thereof for the sppointment of a reoeiver, and such eowrt ehall forthwith sppoint s receiver of the premises oovered j bereby all arid eingular, including s11 and aingular the inoome, proSta, isaues, and revenues from whatever source ~ derived, each and every of which, it being exprees}y understood, ie hereby mortgaged sa if epecifically eet forth and described in the granting and habendum clauees hereof. Such appointment shall be made by euch cowrt ss an admitted ~ equity snd s mutter of absolute right to eaid Mortgpgee, and without refe:enoe to the adequacy or inadequacy of ~ tt?e vslue of the property mortgaged or to the eolvency or insolvency of Baid Mortgagor or t~e defendants. Such renta, pmfits. income, isauee, and revenues sball be spplied by auch receiver according to the lien of this mortgage ~ snd the practice of auch court. In the event of eny default on the p~t of the Mortg,agor h~reunder, the l~iortgagor ; agrees to pay to the bio on demand t~s a reasonable monthly rental for the premises an amount at least ~ equivalent to one-twelfth~of the aggregate of the t~velve montl~ly installments payable in t6e then current ~ year plus the actusl amount of the annual taxea, ae~eeeaments, water ratea, and insurance premiunos for 8uch yeat not oovered by the aforesaid monthly psymente. ~ 10. In the event of any breach of this mortgage or defsult on the part of tLe 1~iorEgagor,.or in the event that ; sny of said eums of money herein referr~d to be not promptly and lully paid according to the tenor hereof, or in the ' event that each snd every the etipulations, sgreements, conditions, and oovenants of esid note and this mortg3ge~ ~ are not duly, promptly, snd fully pedormed; then in eithet or sny such event, the eaid aggrngate sum mentioned in eaid note then remaining unpaid, with interest accrued to that time, and all moneys secured hereby, shall become due nnd payable forthwith, or thereafter at the option of said 11Sortgagee, ss fully and completcly as if all of the said sums of money were originally etipu~ated to be paid on such day, anything in said note or in this mortgage to ~ the contrary notwithstanding; aad thereupon or thereafter, at the option of said Diortgagee, aithout notice or demand. suit at law or in equity, may be prasecuted as if all mone~~s eecured hereby had matured prior to its institu- ~ tion. The Diortgagee may foreclose this mortgage, as to the amount so declared due and payablc, and thc said ~ premises shall be sold to satisfy and pay the same together azth costa, expenses, and allowances. In case of partiat ~ loreclosure of thie mortgage, the mortgaged premiaes ahall be sold subject to the oontinuing lien of this mortgaqe for the amount of the debt not then due and unpaid: In such ca~e the provisiona of this paragraph may again bo availed of thereafter from time to time by the Diortgagee. - ] 1. No waiver of any oovenant berein or of the obligation secured hereby shall at any time thereafter be held ~ to be a~raiver of the terma hereof or of the note eecured hereby. ' 12. The lien of thia inatniment sbaU remain in full force and effect d an t nement or extenaion of the time of payment of t6e indebtednees or any pert thereof eecured herebyn~ y~~ 13. If the Mortgagor default in any of tbe ooven~?nte or agr~ements contained herein, or in eaid note, then the Mortg~gee may perform the e:une, snd all e=penditurea (including renaonable attoroey'8 fees) made by the l~iort~a~ee in eo doin s}~all draw interest at the rate provided for in the principnl indebtednesa, and shall be rnpa~•able 'cL~ thirty (30~ daya after demand, and, togeWec rvith interost and oo~te acerued thereon, ahall be secureci by = tbis mortgage. 14. Upon the request of tLe Mo~ee the Mortgagor ahall execute snd deliver a aupplemental note or = notes for.the sum or suma advanced by e Morigagee for the slteration, modernizstion, improvcment, mnin- tenance, or repair of eeid premises, tor taxes or aseeesments against the same and for any other puriwsc au tl~or- - ized hereunder. Said note or notes s6a11 be aecured hereby on s parity rvith and sa fully as if the ad~ ance evidenced thereby were included in the note Srst described sbove. Said supplemental note or notes shall bear _ int,erest at the rate provided for in the principsl indebtednesa snd ahaU be payable in epproximatel~ equal monthly payments for such period as may be agreed upon by the creditor and debtor. Failin~ to x~rcc on the . maturity, the v~6ole of the sum or auma eo advanced shall be due and pa~able thirt,,y (30) davs n(ter ~icmRnd by the crcditor. In no event s6a11 tLe maturity extend be~ond th0 ultuuete riaturity of the note lirat ;-~ti described sbove. s::; BOpK ~`~_f~~.. .~.._v. ~ _ _ ~e-