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HomeMy WebLinkAbout0618 For We pa~Pose ot indociaR tbe Alortsa`e~ to e=tena to the 111aiYsjor We aed~t bereby e~ideaccd and acurcd. the 1ltorfga~o~ hcreby cu~ewots soa a~resn 1. To prompUy pay whea Grst due the obligatioa evidenced and sccured hereby. T6is covenant shall be coastnud W consdtuta ~ IIIdC~GAdt~l, uaequivocal ead unc~nditional ubligatioa on tho part oi We rlort8agor to pay to the Moctgagee We debt he~eby evidcnced and aecured. 2-a. 'To promptly pay whea due all and singular the taxes. suasmenb. levics, liabiliti~a und encumbraaca ot every nature aad tind impo.xd and levied on tt~e above described property or any part thereot; to promptly deliver to the Mortgagee, when received or issued, all ofi'icial receipts and satis[actions showing performance ot tbe ooveoaats heroof. If t6e Mortgagor s6a11 default ia the performanca of the covenanu heroof. the said Mortgagee may at aay time, without waiviag or affecting his option to torcclose. or any right hercundu. pay aaid taaes. assessments. levies. liabilities aad eacumbranca. and every paymoat so made by the mortgagee shatl bear interest from the date thereof at t6e rate oi 8% per annum. 2-b. To promptly pay whea due all iatangible personal property taxes: occupation. excise, sales'and iransaction taxes; unempioyment and withholdiag taxes: all Gcenses of whatsoever lund. including but aot limited to alcoholic bevuage licease: and all other taxes aod licenses levied or exactod by aay suthority relating to tLe use, operauon and busiacn of the Mortgagor coaducted on the aforesaid encumberad pmperty; and to prompdy deliver or eachibit to the Mortgagee. when roce~vod or issued. dl official receipts and proof of payment of eac6 of the aforesaid. 2-c. To promptlY PaY when due all operating. iifaintenanoe and servicing charga and caats reladng to the real and personal pmperty eucumbered by tt~is morigage. includiag but not limited to telephoae. gas, electricity. water. water connection, uwer, xwer connections. and all other expenses incurred in the use and operation of said encumbercd ProperlY. and to furnish or exhibit to the 1liortgagee proof of the pertormancc of the pmvisioas hereof. 3. To pay aU and singular the costs, charges and eapenses. including lawyer's fas. reasonab~Y incurred or paid at any time by said Mortgagee, because of the failuro on We part of said Mortgagor to perform. complY with and abide by each and every the stipuladons. agreemeats, conditioas~nd covenants of.said promissory notes and this deod. or either, and every such payment shall bear interat from date at the rate of 896 per annum. 4. To keep ih~ buildings and personal property now or hereafter located on said land iasured against loss by 5re and windstorm. in e wm not less than t6e unpaid aggregate indebtednas herebY secured. in i comPany or companies to be . approved by aaid Mortgagee and We policy or policies 6eld by and payable to said Mortgagee, and in the event any sum of # money baomes pay~able under such policy or policies. the Mortgagee shall 6ave the option to rcceive and apply the same on ; i account of the indebtcdness hercby sceured or to peanit the Mortgagor to roceive and use it, or any part t6ereof, •for other purposes. without t6ereby waiving or impairing any equity. liea or right under or by virtue of this morigage, and may place aod pay for such iawrance or any part thereof without waiving or aBecting the option to foroclose or any right hereunder. and - each and every suc6 paymcot shall bear interest from date at the ratc of 896 per annum. 'I'o promptly deliva to the Mortgagee original receipts or other written evideace ahowing payment of all insurance premiuou when due. S. To permit. commit or sufter no waste, impairment or deterioration of said real or personal property. or any part thereof. To keep all improvements. buildings and personal property situated on the above described land in good state ot repair. wdl paintod and water~roofed. and to promptly pay all costs and expeoses thereof. Without the writteo constnt of the mortgagoe, tt~e mortgagor shall not remove, or allow to be nmovod. the tang~'ble peisonal property hereby encumbered from the above described real property. 6. No delay by the Mortgagee in enforcing the terms and provisions of this Mortgage dad or the promissory notes hereby secured shall ever be construed as a waiver of the Mortgagee's right to enforce the same. 'I'he debt evidenced and secured by this mortgage deed and the promissory notes herein teferred to, having once been accelzrated by reason of default, cannot be decelerated save and except (1) by an instrument in writing executed by the Mortgagee under seal. and also (2) supported by independent good and valuable consideration. 'Ibe acceptaace by the Mortgagee of part paym~nt or part performance by We Mortgagor sLall not be treatai as curing any default, nor shall ihe same operate as an estoppet or waiver agai~t the Mortgaga. 7. If any said sums of moaoy herein nfeaed to be not prompdy and fully paid within Sfteen days nezt after the same severally baome due and payable, or if each and every the stipulatioas, agreements. rnnditions and covenants of said promissory notes and this deed, or either, aze not duly performed, complied with and abided by, the said aggregate sum mentioned in said promissory notes shall become due and payable forthwith automatically and without notice, as I fully and completely as if the said aggregate sum of money evidenced by tha promissory notes hereby s2cured was originally stipulated to be paid on such day, anyt6ing in said promissory notes or herein to the contrary notwithstanding. ~ 8. It is agreed that the provisions. agreements. terms and conditions contained in t6is mortgage deed, and promissory no~es hereby secured, together with the lien and sccurity 6ereby created, shall extend and apply to. and govem any and all nota given in extension or renewal of the notes hereby originally secured. 9. All persons. associations and corporations liable for the debt hereby secured. whether primarily or secondarily, and each of them, hereby expressly waives any statutory or other defense ahich they now have, or may hereafter have against the enforcement of the terms. provisions, agreements and conditions of this mortgage deed and the promissory notes hereby secured. and each of them does hereby agree that they have no set-off or counterclaim against the enforcemeat and collection of We debt hereby secured. and further agree and consent to the entry of a summary final decree for the enforcement of the provisions of this indenture. 10. The term "mortgagee° as used in this mortgage deed and the promissory notes hereby secured. shaU be deemed to include and mean the mortgagee, his or her or their heics. administrators. eaecutors and assigns, and if a corporation, its successors, gantees and assigns; the term "mortgagor" as used in this mortgage deed and promissory notes hereby secured sh~ll be deemed to in.lude and mean the mortgagor, his or her or their heirs, administrators, executo~s, grantees and assigw, and if a corporation. its suceessors. grantees and assigns. The use of the singular shall be construed as the plural whenever the context so requires. 'The terms "debt° or °obligation", as used in this mortgage dad and promissory notes hereby aocured, s6a11 be deemed to include all the covenanu. agreemeots and promises of the Mortgagor as herein delineated. 11. Upon default by the mortgagor of any of We terms, provisioos, agreements and conditions of lhis mortgage doed, and the promissory notes hereby secured, the mortgagee shall have the right to have a receiver appointed to take c6arge of, • control and manage the mortgaged premises, and to collect and hold the rents and profits accruing therefrom; such roceiver shall be appointed without the necessiry of showing insolvency of the mortgagor or inadequacy of the mortgaged security; all rents, profits. revenues and income arising from the mortgaged premises or accruing thereupon shall. upon default of the mortgagor of any of the terms of the mortgage deed or the promissory notes hereby socurod, be oonsidued as irust funds. and _ if wlltct~d by the mortgagor the same shall constitute trust funds and be held in tnut for the use and benefit of the mortgagee, and forthwith delivered upoa collection to said mortgagee. The mortgagee is excused from giving or filing any bond in a judicial proceeding as required by statute or rules of court as a condition or prerequisite to the appointment of a receiver, issuance of injunction, attac6ment. garnishment or other provisional remedy, or supersedeas in the eveat an appeai is takea by the mortgaget. 'Ibe mortgagor irrevocably waives such statutory or rule requiremenu relating to bond. 12. No person liable for the debt hereby sectved, whether such liability is primary or secondary. and whether such liability is created by endorsement of the notes or as joint maker of the notes, or guarantor. or having assumed the obligation W pay said mortgage debt or otherwise liable for said mortgage debt, s6aU be released or disc6argod from liability of the aforaaid debt by virtue of any extension or renewal grantod by the mortgagee to the mater of the notes hereby secured. or aoy other person liable for said debt, whether primary or socondary. The mortgagee is 6ereby exprcssly granted the right , °a~K 2~5 ~~r.E 61? . . - ~ " ' ~ r r . ~ - z _ ~ ~ ~e'~m; .