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Home My WebLink About1663 That U the ptinclpal or intereat on the note he~ein described or •ny part of the indebtedr?ea~ secured hereby ~ or interesL thereon be not pa~d when due. or it Mort~oRor sh~ll fail to pay any bxes. aaseasm~nts, eh•r~es. os imposi- ~ tions as the same become due snd payable. or if defsult be made in the full and pro~npt pertorm~nce of nny oovenant oeagree menL herein co~tained. or if any proccedinRS be in+tituted to abate sny nuisa~ce on the Mortga~ed Premises or if ~ny proceedinga be instituted which might result to the detriment ot the use and enjoyment oi the premiaes. or if Mortgagor ia adjudic,ted a bankrupt or insolvent. or ii any law shall be enacteci or decision rendered by any cwurt oi las! resort im_posing sny tax or aaseasment not now in effect upo~ thia mortgage. or the note aecused hereby. or any interest oi Mortgagee in the Mort~aged Premises. or rendering inoperative the undertakinga of Mortgs~c?r to p~y all taxes arising as a mault oi this trensaction other thAn tiuces on tha interest income hernfmm~ or whuh results in the deduction fmm value of land~ for tax purposea. oi the amount oi any lien hereon. or sltering the l~w~ for the taxing of mortgages or debts secured thereby, or if the rtortRsgor. without firat obtaining the arritten consent oi the Mottgagee. shall gnnt, bargain. sell or convey the Mortgaged Premises or any part thereof. including timber. then on the happening of any one or more of lheae eventa. thia conveysnce shall become absolute and the whole ind~ebtedneas secured hereby shall ~mmed?ately becoma due end paysble at the option of the Mortgagee and this mortgage may thereupon be foreclosed for the whole of aaid money. interest and cost~. or Mortgagee may foreclose only aa to sums past due without injury to this mortgage or the di~placement or imp~irment of the remsinder oi the lien thereof~ and at such forecloaun aale the pmperty shall be aold subject to all remainiog items of indebtedness ~nd the Mortga~ee may again foreclose in the asme manner as oiten as there be any sum paat due. . 10. If at any time siter default by MortRagor a receivership may be necessery in the op inion oi Mortgsgee to pmtect the lien hereof. or at the time of or aiter the institution ot au~t to collect the indebtedness hereby secnred. or to foreclose this mortgage. Mortgagee ahall. as an admitted equity and as a matter of atrict right and seSard- less of the vslue of the property. or the aolvency or insolvency of Mortgagor or any party bound for the psyment of the indebtedness have the right to the appointment, on ek parte soplication and without notice to anyone. by any pmper court having jurisdiction. oi a teceiver. which rece~ver s~?all heve all of the btoad and effeetive powers and functiona in any wise entrusted by the rnurt to a receiver. to take charge of~ manaRe. preserve. maintain. care tor and prntect the Mortgaged Premiaes and to coltect rents, issues, proceeds. produce. profit~ income and nvenues oi the Diortgaged Premises irom whatsoever source derived; to make all necessary or needful repaira snd to prntride for the Mortgaged Premises aa set forth in paragraphs 6 and 6 pbove, and to market the products thereof and receive and collect the proceeds thereof and auch receiversh~p sht~ll. at the optiun of Mortgagee. continue ur.til the lull psy- ment of all aums hernby secured, or until title to the Diortgaged Premises shall have pasaed on sale under s iore- ciosure of this mortgage. 11. Should Mortgagor and Mortgagee hereafter enter into any agreement modifying or changing the terms of this mortgage or the note secured hereby ~n anv particular. the righis of the partiea to auch agreement ahall be auperior to the righta of the holder of any intervening lien or encumbrance. 12. Without affecting the liability of any.person (other than any person released pursuant hereto) for payment of eoy indebtedness secured hereby. and without affecting the lien hereof upon any pmperty not released pursuant bereto. Mortgagee may at any time ~nd from time to time. without notice: (a) Release any person liable for payment of any indebtedness secured hereby. (b) Renew the indebtedness, or extend the time. or agree to aiter the terms~ of payment of any qf the indebt- edneas. • (c) Accept additional security of any kind. (d) Release any property aecuring the indebtedness. (e) Consent to the making of any map or plat of the Mortgaged Premisea, or the creation of ~ny eaaementa thereon or any covenants restrictmg use or occupancy thereof. 13. If the indebtedness secured hereby is now or hereafter further secured by chattel mortgages, pledgea, con- tracta of guaranty. assiQnments of leases, or other securities. Mortgagee may at its option exhauat any one or more of asid aecurities and the security hereunder, either concurrently or independently. and in such order aa it may determine. 14. No delay by Mortgagee in exercising any riRht or remedy hereunder, or othetwise afforded by law. ehall operate as a waiver thereof or preclude the exercise thereof during the rnntinuance of any default hereunder. lb. That the Mortgagor ahaU permit the Mortgagee or its representativea to exsmine and inapect the premiaea ~ st any reaaonable times. E This mortgage shall inure to and bind the heirs, leRatees, devisees, administratora, executora, ancceaaora and asaigna of the partiea hereto. Wherever used herein, the ainguiar number shall include the plutal. the plnral the j aingular~ and the use of any gender ahall be applicable to all genders. i s Mortgagee shsll be aubroqated to the claims and liens of all parties whose claims or liena are discharged ot ~ paid with the proceeds of the loan secured hereby. ~ The provisions of paragraphs 16, 17 and 18 are set forth on Exhibit ~ "A" consisting of two pages which is attached hereto and by this refer- ~ ence made a part hereof. ~ ~ . ~ ~ . ~ ~ ~ ~ ~ ~ ~ ~ IN WITNESS WHEREOF, this mortgage haa been duly executed by the Mortgagor. y Signed, ed and delivered ~ in tbe oi: MILL-RACE ROPERTIE ;t x; - By:- C . C ar es H. Race, Jr., P gy ; ~ /~~~.~rit~ ckie Mil er Wolper ~ 224 ~~~~.~~2 ~ ~ ~ ~ . ~ . . . ~ s-~~ ~ ~ ~ 3 ~ ~ ~r`.~ _ ; ' ~ ~ : ~ ~ _ { f ~ ~v:.!-..~ . ~ ~ ~ _ _ . `~0"5~~~ ~~r'i