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Home My WebLink About0826 • tender to the MoHgagee in accordaace ~vith the pravisio»a of tl~e note secured lierebr, full pa~~nent of t)?e entire indebtedness repmsentecl tlierebv, the liorigagee, as trustee, shall, in compuling tl~e an~ount oi aucit , indebtedneas~ credil to the scrount a[ t~?e :?lort egor eny creclil balnnce rnmaining under tlie' provisions of (a) o[ aaid paragraph 2, If there shall be a de[wu~t upder ~n~ ot tlie provisioua ot this niortgsge resultin~ in a public s41e of the pren?isea co~~ernd heceby~ or if the l~iottgagee acquues the propert,r otherwise after default, the Mortgag~, asq tre~stee, shall apply, at the tin~e o! the conunencement of such procc?edings or at the timP the propert~ ~s oth~rv? isc acquired, the amount tl?en ~en~ainin~ to rredit of 1liortgx~or undcr (e) of paragraph 2 a preceding as t? credit on tlio inierest i?ccrued and unpaid and llie bulence to tt~e principat Wien rnni~iuuig unpaid on said note. . 4. He ~viU pay ail taxes, ~?BSeesmenta, wster rste~B, sna oWer g~overnmental or municjpal charg~ fines~ or imp~ositione, tor ~bir.h proviaion hxa not beea made bereinbetore, and ia detault thereof the 1liortgagoe may pay the sarne; and that he will promptly deliver the o~cial reoeipta therefor to the Mortgagee. b. I~e will permit, oomanit, or suBer no ~vaate, impairment, or deterioration of eaid property or any part tticreof~ eucept reasonable wear and tcar; and in the event of the fsilure of the Mort~agor to keep the buildings on asid premise8 and t.hoee to be erected on eaid premiaes, or Improvements thereon, in g~ood r+epair the Mort~gee may make euch r~paira aa ia its diacretion it msy ~oem n~assry for the proper ~rexrvt+ic+3 Lhesee~ r.~d the full amount - of each And every such payment eball be due ~?ad pqyabb thicty (30) dsye ~fLer deou~ad, an~tl sbsll be aecured by the lien of thia mortgaga. 6. He ~vill pay all and eingiilar tbe costa, c1i~x~~ee, and e:peneea, including reasonable Ia~vqer'e feee, and c~oete of abetr~cta of title, incurred or paid at any time by tlbe Mortgsgee becauee of the failure on the part of the Diortgagor pramptly sad full~ to pedorm the agreementa sad oovenanta of said promieBOry note and this mortgage, and said oost,$, c6ergea, an eupenses ahall be immediate~y due ~u~d psysble aad shall be eecured by the liea of this mortgage. 7. He will oontinuous~y msintsiu Lsurd insuranoe, of such type ortypee snd amounts as :Viortgagee map fmm time to time require, on the improvemenfs aow or Lereatter on ssid prenuses~ and except when paymen0 !or all such premiums Las~tberetofo~ besn made under (a of paragru~h 2~ereof he ~vill pny pmmpWy v~hen due any premiums therefor. All insnrance shall be carri~ in oompanies approvec~ by llio~~; ee and tLe poli- cies and renewala thereof shall be held by Mortgagee and Lsve attsched thereto loes paysbie c~ausee in favor of and in form acceptable to the Mo re~e~. i,n event oi lo~ he Wi1t ~ve i,nmedi~te no~ioe b~ m~1 to 1?iorc~a~~e, and Mortg4gee may mske proof~~f Ioes if not msde pramptly by Mortgag~or~ tnd ee~ insuranoe oompany eoncerned ia hereb suthorized snd directed to mak~e payment ior such loes du+ectiy to Mo ~ee instead of ae to l~lortgagor sad ~ortgsge~ jointly, r?nd the iffiursnoe P~~, ~Y P~ thereof may be ar ppliod by Mort- gagee ~t ite option either to the reduction of tha indebtedneee hereby secuned or to t'~e restoration or repair of the property duns~d. In event of iorec~o~+e oi t~s mo~or otLer t~ra~er of title to the mortgaged prop~,y m ezt~ingu~iment of t6e indebtsd~s~ e~ed hereby, right, title~ and interest of the Mortgagor ~a ~wd to sny inauranos polici~ tLen ia foroe s~all pess to t~he pnm~~eer or grantee. 8. Tt tl~e premises, or an,r pari tliereof, be condenwed nnder the power of eminent don~ain or acquircd f~r a public use, t1iP dan~ages awarded, u~e pmcee~a for the ~of ar the consideration for suc~i acquuition, to . the extent of the full an~ount of the rentaining unpsid inde tec~ness $ecnred br this niort~~, arn l~rreb~ assigned to U?e Mortgagee, and his heira or assigns, and shsll be psid Iorihwith to eaid Mortgagee or lua assignee to be applied on account of the laet ~natwru~g inst.ailmenta of suc,tt indebtc~dness; provideci, l?onerer, the Mortgagee or his sssi~nee, inay at his di~cretion pa~ direcL to theMorigagor, lus lieirs or assigns an~ part or all of sucli av?arcl; pro~nded, that if the loan ie guaranteed or insured, tlie coneeut ot the guurantor or ir~surer is obtainecl in advance of said pa~~nenw 9. The Morigagee may, at sny time pending s snit upon thie mort$age, spply to the eomt haring jwrigdiction thereof for the appointment of s receiver, and aucti ~urE shaII forthwiW appoint a reoeiver of the prem;ses covered - hereby all arid aingular, including al! and eiagiilar the income profits, iesues, s+ud reve~ues from whatever eouroe derived, each and every of ~vhich, it being espr~aly understooc~, is hereby mortgaged as if apeciScally eet forth and described in the granting snd habendum claueea he~~eof. Such appointment sball be made by such oourt as an admitted equity end s mat;er of absolute sig6t to esid Martg~ng~, aad witho~tt referenoe to the adequacy or inadequacy of the ralue of the property morLgaged or to the eol~?~ncy or ine~lveacy of eaid Mortgsgor or the defendants. Such r~nta, pm6ts, income, issues, and tevenues aball be s~pplie~d by such reoeiver aooo~rding to the lien of this mortgage • swd the practice of euch oourt. Ia the eveat of aay detault on tbe p~rt of tbe Moztgagor hereunder, the l~iortgagor agrees to pay fo the Mortg oa demand as a reaeoasble n~onthly reafal for tbe premises an amount at lcast re equ~vslent to one-twelfth ( s) of the aggregate of the taehre montlily instsllments payable in the then current year pluaythe actual amount of the annusl taxes, t~see~aneut~, water ratea, and insuranoe premi~mos for such yeat not oovered by the sforeeaid montWy payments. IO.Ia the event of any breach of tbi8 mortgage or default on the psrt of the biortgagorj.or in the event that ~ny of said sums of money herein referred to be not promptly and fully paid according to the tenor hereof, or in Lhe event that each and every tbe ati~latioaa, agrermenta, ooudibona, and covP,nants of esid note and this mortg:tge, are not duly, promptly, and fully performed; then in either or sn~? such event, the eaid aggregate sum mentioned ia said note then remeuning tmpaid, with interest aocrued to that time, and all moneya eecured hereby, shult becume due and payable forthwith,-or thet+eafter at the option of said 1liortgagee~ as fully and completely as if all of the said sums of money wera originallq $tipu~ated to be pnid on such day, anyLhing in said note o~ in this mort~nge to the contrary notwithatanding; snd thereupoa or thereafter, at the option of said Mortgagee, Rithout notice or ~ demand, suit at law or in equity, mt?y be praeecuted ae if all moneys secured her~by had matured prior to its institu. tion. The biortgagee may forecloae tbis mortgage, ae to the amount so declared due and payable, and thc s.1id ` premises shall be sold to satisfy and psy the same together with cASta, expenses, and allo~ances. In case of partial ~ foreclosure of this mortgage, the mortgaged premisea shall be eold subject to the continuing lien of this mortgaRe for the amount of the debt not tben due and unpaid: In ettch caee the pmvisions of this paragraph ~ay agaiu be availed of thereafter irom time to time by the Diortgage~. 11. No watver of any oovesaat l~ereia or of tLe obligation secured hereby shaU at any tiaoe thereafter be held to be a waiver of the terma hereof or of the note eecured hereby. " l2. The liea of t~ua inatnimQnt ahall remain in full force and egect during any pastponement or extension of , the time of gayment of the indebtedneea or any part thereof eecured hereby. 13. If the 111ortgagor default in sny of the ooveaante or agreements oontsined herein, or in said nofe, then the Mortgagee may perEorm Lhe same, and all eipenditures (including reasonabie attorney's fees) mxde by theAiort.~a~ee in so doing shall drew interest st the rate provided for in Lhe pnncipnl indeLtedness, and si~all Le rePa~•st~le thirty (30) days after demand, and, together with interest, and costa accrued tLereon, st~all be secur~,~i by this mortgage. ' 14. Upon tlte request of tLe Mort~agee the Mortgagor sbalI execute and deliver s supplementat note or notes for the sum or sums advanced by tha Ziortgagee for the alteration, rnodernisation, imp?nr~~mc~nt, main- tenance, or repsir of said premises, !or taxes orasec~sments against the same and for any olher pur~x~s,, ni~ti?or- ized hereunder. Said note or notrs shall be socured hereby on a parity with and as fully as i( the ad.-unce ; evidenced therebp wera included in tho note Brst descriE,eJ above. Ssid snpplementsl note or not~es ~hait bear ; interest at the mto provid`d for in the principal indebtc~nesa and ghsll be pay~ble in approrimat~~1~- ~qual moaLhly paymenta f~r snch period ss may be sgrced upon by the creditor and debtor. Failin~ to a~;r,~~• ,>n the maturity, the whole of the sum or sucns so advanceii s1i~11 bc due qnd parable thirt}~ (3~?) dt~.s <.f.~r +l~ r~~~~n~l by the creciitor. In no avcnt shaU t4e maturity extend be3ond tl~e ultiti?ate r~oturity of tLe note tirst deacribed above. ! r,[ 224 fAGE V~ _ . , _ _ _ - - _ ~ _ _ t.~