The URL can be used to link to this page

Home My WebLink About2925 tender to the Mortgegee in accordsnce with the provisio»e at tl~e note secured 1?Prcbr, !uIl psrment ot tlie entire indebtedness repre8ented therebv, tl~e Iliortgsgee, as trustec,.shell, in computing tlie amount o[ sucli indebtednees, credit to t}?e account ot tlie Mortgegor any creciil Lalance rnmaining under the`pro~•i~ions of (e) ot eaid paragraph 2, ]t thern s}isll be a default undcr an~ oi the provisious o~ this ruortga~e resulting in ~ public sale ot the pren?ises covered hereby, or J the Mortgagee scquues the propertr otherv~~se aher default, the Mortgagee, ~s truatee, ahall apply, at the time ot the co~runeni+ement of euch proceedings or at, tl~e timc? the property ~a othPrw•ige acquired~ tl~e amount tiien ~emainin to credit of Mortgug~r under (e) of paragrapl~ 2 preceding as A credit on tl?e interea6 +~ccrued snd unpaid and ~e b~?l~ncP to iLo pcincipal Uien reiuauiiug unpaid on 8aid note. 4. He will p?y all teu~ea ~eeeeaments, wster ratee, and other governmental or municipal chaegea, ~nee, or impositione, ior ~vhich pmvision has not beea made hereinbefore, and ia defsult thereof the Mortgagee mqy pay tt~ saaoe; ~nd tbat be ~vill promptly deliver the o~cie~l rcceipte fberefor to the Mortgagee. b. He will permit, oommit, or euBer no Raste, impairment, or deterioration of said property ar any part tbereof ~ccept reaeone?ble wear and tear• end in the event ot the failure af the Mortgngor to keep tde build;ngs on aaic~ premises nnd those to be erocLr,~{ an asid p~remis~, or impruvements Lhcrwn. ,n ~x~d repair the Mortgagce may make euch repaire ae in ita diacretion it msy deem neoeseary for the proper preaervation tfiereo~, and the fult amounb oi each and every such psyment shall be due and payabla thirty (30) dsya aft,er demand, and shall be eacured by t6e lien of thi~a mortgage. 6. Ha w~ill pay all and eingul~?r tbe eoeta, cll~ 1~and ezpeneea, including t+eaaonable ]s~vyer'e ieee, and ooets oi sbetr~cta of title, incurred or psid ut any time by ortgagee becauee of the failur~ on the part of the I~iortgagor promptly and fully to perform the agreennenta and oovcnanta oi eaid promiseory note and this mortgage, and seud ooeta, c.harges, and e:penees ahall be immediately dua snd payable and ehall be eecured by the lien of thia mortgage. He ~vill oontinuou8~y msintsin Lszard inauranoe, of euch type or types and amounta as :4lortgagee may irom Lime to time require, on the impmvements now or hereatter on said premiseo and e~cept when payment ior all such premiums has theretofore been made under (s) oi paragra~h 2 hereof ~e will pay pmmpt1y when due any premiums therefor. All insurance shall be canied in c~ompanies spprove~ by 1liortgagee and the poli- ciee and renewale thereoi sball be held by Mortgagee and Lave attscLed thereto loes paqable clsusee ia favor of and in form acceptable to the Mort~agee. In event of loes he w?ill give immediate notioe by mail to rsortgagee, and 1liortgagee may make proof oi Toes if not made promptly by Mortgeg~or~ and each insurance aompany ~oncerned ia hereb suthoriaed aad directed to make payment for such loea duectly to I~iortga~e~e instead of to I~iortgag~or sad ~iortgagee jointly, snd the iffiurance pmoeecie, or any part thereof may be applied by Mortr ~agee a6 ita option either to the reduction oi tbe indebtedneea hereby eec~u~ed or to t~e restorstion or repair of - tbe pmperty dam~ed. In event of foreclosure of this mortgsge, or other transfer of t3tle to the mortgaged m~d to ~wy ins'~ur~?n~policies Wen ia fo~ehall p~ss to~thebyp~lu~~t,~tle~, ~ terest of the Mortgagor 8. 1~ tl~e pre~nises, or sn,r part t}~~reo[, be condenmed under the power ot eminent doniain or ac~uircd for s public use, tlie dsniages swarded, tl?e proceeda for the Laking of, or the consideration for suc•li arquuition~ to ~ the extent of the tull ainount of thp remaining unpaid indebledneas securcd b~ this niortgs~, arn hercb~ assigned to tl~e Morcgagee~ and hie i?eira or aseigns, and shall be paid torihwith to said Iviortgagce or lus ass~gnee to be applied on account of the last maturmg installments ot auch indebtc~dness; provided, ho~re~er, the biortgagee or his assipnee, may at~ his discretion pa~ direct to the Morigagor, lus lieirs or assigna anr par~ or all o[ sucfi aw~arcl; prov,ded, that if the loan is auarAnteed or insured, t4e conseut o! tl~e guurautur or insurer is obtained in sdrence of said pa~~nent, 9• The Mortgagee may, st any ~me pending s suit npon this mortgage, applp to the eonrt lisving jurisdiction tbereof for the sppointment of a receiver, and euch eourt e6a11 forthwith appoint s receiver of the premieea oovered bereby all srid ~ingular, including all and eingulsr the inoome, profite, issues, and revenuea from whatever eouroe derived, each and every of which, it being expte9sly underatocid, ie hercby mortgaged sa if epecifically sct.forth and deecribed in t6e Eranting and habendum clausee hereof. $uch appointment shall be made by such court as an admitted equity and s mutter of absolute right to esid Mortgagee, and ~vithout reference to the adequacy or inadequacy of the value of the property mortgaged or to the eolvency or insolvency of said Mortgagor or t'~e defendante. Such ' rents, pro5t8, income~ issues, and revenuee nhall be applied by euch reoeiver according to the lien of this mortgage ! and the practice of auch court. In the event of any default on the part of the l~iortgagor hereunder, the Mortgagor 3 agreea to pay to the Mortgagee on demand as a resaonsble mont~ly rental for the premise.s an smount at least equivalent to one-twelfth (~2) of the aggregate of the twelve montbly installments payable in the then current ~ year plus the actual amount of the annual taxes, aesessments, water rat~ea, and insurance premiums for euch year ~ - not oovered by the sforesaid monthly paymenta ~ 10. In the event of an breach of this mort ~ Y gage or default on the part oi tbe 1liortgagor,.or in tbe event that ~ any of said aums of money herein referred to be not promptly and fully paid according to the tenor hereof, or in the ~ event that each snd every the atipulations, agreementa, conditione, and covenants of said note and this mortgage, ~ sre not duly, promptly, and fully performed; then in either or any such event, the said aggmgate 8um mentioned ~ in Said note then remaining unpaid, with interest accrued to that time, and all moneys eecumd hereby, shall tx~.~,me due and payable forthwith, or thereafter, at the optio~ of said Diortgagee, as fully nnd completcly as if a!1 of t6e ~ said sums of money Rere originally stipulated to be paid on such da~, anyLhing in said note or in this mortgs~e to the oontrary notwithstanding; snd thereupon or thereafter, at the option of said Dlortgagee, v?ithout notice or ~ demand, suit at law or in equity, may be prosecutcd as if all moneys secured hereb~• had matured prior to its institu- ~ tion. The Aiortgagee may foreclose this mort~age~ as to the a.mount so declared due and pa~•al,le, sod tt~e said ~ premises shall be sold to satisfy and pay the same together with costs, expenses, sud atlowances. In cRSe of partial ~ fomclosure of this mortgage, the mortgaged premis~•s ahall be eold subject to the oontinuing licn of tt?is mortg~e for the amount of the debt not then due and unpaid. In such case t6e pm~-isions of this paragrsph n?ay again be ~ svailed of thereafter from time to time by the Alortgagee. I 1. 1\~o wsiver of any oovenant herein or of the obligation secured hemby ahaIl at aay time thereafter be beld ~ to be s waiver of the terme hereof or of the note aecured hereby. ' l2. The lien of this instrument ahall remain in full force and ef~ect during any postponement or extenaion of _ the time of payment of the indebtednees or any part thereoi eecwed hereby. 13. If the ~iortgagor default in any of the corenants or agr~ements confained hercin, or in said note, thPn the Mortgagc~e may perform the same, and all eapenditures (including reasonat,le attorney's fees) made by the 11~ott~a~ee in so doing shall draN interest at the rste pro~•ided for in the principal indeLtedncss, and shall be rel?u~-able k;z tt~irt~ (30) da~s atter demand, and, together witL int,erest and costs acetueci tLereon, s1in11 be sec;ureci by thia mortgage. _ 14. Upon the request of the Mort~agee the Mortgagor sbnll ea~ecute and deliv~r a aupplem~ntal Bote er c` notes for the snm or sums ad~-anced by the ~tortgagee for the alteration, modernization, improrcment, n~ain- r~ tPnance, or mpair of seid premises, for ta~es or as.~e~sments against the same and for a.n~ other pur~wse author- ized hereunder. Said note or notes sha11 be secured }~ereby on a parity wit6 and us fully as if the ad~snce ecidenccri thereby w•ere incladed in ti~e note Bcst described abo~ e. Said s»pptementsl note or notes shnll bear . interest at t6e rate pro~ idcd for in the principal indeLtedncss xnd shall be pe~•able in approrimately cqusl monthly ps~•men!s for sucli perio~i ns mn} be a~reed u~Mn F>~ the cre~iitoc atid cieblor. Fsilin~ to a~rec on'the mit+~rity, tf?e x-t:ole of the sum nr ,i~ms ~ n~l~•anccd shnll be d~~c and pa~-at>le~ thirt.~• (3~?} ,jil~•s ,.fter clcrnan~i hy the cr~rli!or. In no e~•eut st,Llt tLe malurit c~tcu~i Lx oud the ultiii~ntu rsulurit of lLe note first Y S' y ~ described above. ~ - ~ 22~ f,,t~~~3 _ ~ - , * ,ry ° ~a ` y ~ x ' . . ~ ~ t~~ _ _ _ . ~ _