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Home My WebLink About1908 ~ tender W the Mortgagee in eccorciance with the provisiona o[ the note secured hereb~•. full pa~ u?enl ot the entire indebtedneaa repreaented thereby. the Mortgegee, ae truatee, shsll, in coii~puting tl~e sii?ount of sucl~ indebtedness~ credit to the account ot tl~e Mortgagor uny cfedit balence remeining under the provisions of (a) of said p nph 2. If there ahall be s default under sny o[ the provisions of ti~is inortga~e resulting in a public si?1~ the premisea covered hereby, or iI the Mortgagee acquu~ea tlie propert~~ otl~erwise after detault, the Morigsgee~ as truetee, ahall apply, st t.he time of the coinmencement of such proceedinge or et tl?e limc~ the property i~ otherwise acquired, the smount then remaining to creciif~ of Mortgagor under (s) of pecagrspl~ 2 precediag es a credit on the intereat sccrued and unpaid and the balance to the pri~c~pal then rnn~ain~ng unpstd oa said note. 4. Ha will psy all ta~ces. ae~eesments, wuter r+?te0. aad other~o vernmentsl or muaiciPt?l ohai'6es. Hne~ or ianpoaitione, for whiah provieioa has no~ been msde hereiabefore. snd in default thereo~f tho Mort~ee ma,~? W~Y the ewae; end tbst be will prompt~y deliver the o~oul reoeipte fberefor to the Mort~g,agee. b. He will permil~ oommit, or su8er no waste. ianpsirment, or deterioratioa ot eaid propetty or any part thereof e e~ccept reaeonable wear aad tear• snd in the eveat of t,~e fsilure of the Mo r to keep t~he buildings on esi~ premieee and ~hoee to be erect,e~ oa eaid preanises, or improvementa t6ereon, ~ood repsir the Mortgagee m4Y make euch repeire as in its dieeretion it me~y deem aeoeeeary for the proper preserv~?tion thereo~~ and tbe full amount of each and every euch psyment ehell be due and pRyaWe thirly (30) dsys sfter demand, and ahaU be secured by the lien of this mortg~ge. ae 6. He will pey all snd singule?r the ooeta~ and ezpeneee~ including e+easonable ]swyer~s feee, and ooets of abstr~cts of title~ incun~ad or psid st sny time by e Mortgagee bc~?uee of the fsilure on the psrt ot the Mortgegor prompWy and fully to pedorm the aareementa snd oovenanta of esid promiseory note and thie mortgage, and said eoets~ ~hargea, snd expeneee she?1? be immediat.ely due and psyable and ehall be eeeurerl by the lien of thia mortg~?ge. 7. He will oontinuous~y me?intain hezard i~urance, of such type or typee snd umounte sa Mortgagee msy from time to time require~ on the impmvemente now or hereatter on aaid pnmises aad eacept when payment tor sll auch premiums hsa theretofore beea made under (s) oi paragraph 2 hereof ~e will psy pmmptly when due any premiuma thcsrefor. All insurence ahall be canied in companies agprove~ by 1liartgagee and t6e poli- cies and renewals Lhereof shaU be held by Mortgagee and have attacLed thereto loss psyable clsnsee in isvor of and in fornn acceptable to the Mort&agee. In event of losa he will give immediate notioe by mail to Mortgagee, and biortgagee may make proof of losa if not made promptly by Mortgsgor, and each inaw~snoe oompany ooncerned is hereb aut6orized and directed to make payment for such loea directly to Mort~qagee~ b tead of to Mortg.agor and ~ortgagee jointly, snd the insurance proceeda, or any psrt thereoi may be sppli y Mor~ gagee at its option eather to tbe reduction of the indebtedneea hereby eecured or to t~e restontioa or repsir of the pmperty dama~ed. In event of foreclosure oi this mortgage -or othat transfer of title to the mortgaged property in extingu~ahment of the indebtedness eecured hereby, s~l right, title, and interest of the Mortgagor m and to any insurance policies t~en in force ehall pASS to t.he purchaser or grantee. 8. If U~e premises, or an~• part tl~ereof, be conden~ned under the power of eminent domain, or acquirnd for e public use, tlie dama~;es awarded, tlie proceeds [or the taking of, or the consideration for sucl~ acqu~sition, to the extent of tlie full au~ount of t}ie remaining unpaid indebtedness secured b~ this u~ortgage~ are l~ernb~• assigned to tLe ~14ortgagee, and his heirs or assigns, and shall be paid forthwith to said Mortgagee or his _ ass~gnee to be applied.on account o[ the last ~naturing installments of such indebtedness; provided, howe~er, the Mortgagee or his assignee, ~~ia~ at l~is discretion pa~ d'veM to t.l?e Mortgagor, l~is heirs or assigns ant• part or all of such awarcl; provuled,-that i( the loan is gueranteed or insured, the consent of the guarantor or insurer is obtained in ad~ance of said pit~uient. 9. The Mortgagee may, at any time pending a euit upon this mortgage, spply to the oourt hsving juriediction thereof for the appointment of s reoeiver~ and such oourt ehall forthwit6 appoint a receiver of the prem~eea oovered : hereby all arid singular, including all and singular the income, profits~ issuea, and revenues fmm whstever eouroe ~ derived, each and every of which, it being ea~pressly understood, ia hereby mortgaged as if speciScally eet forth and ~ described in the granting and habendum clauses hereof. Such appointment shall be made by such oourt aa an admitted ~ equity and a matter of absoiute right to said Mort.gagee, and without reference to the adequscy or inadequacy of the value of the property mortgaged or to the aolvency or ineolvency of said Mortgagor or t~e defendanta. Such rents~ pro6t8, inoome~ issues, and revenuea sha11 be sPPliecl by such receiver acxording to the lien of thia mortgage i and the practice of auch court. In the event of any default on the part of the Mortgsgor hereunder, the Mottgagor ~ agrees to pay to tbe Mo on demand as a reaeonable monthly rental for the premises an amount at least equivalent to one-twelfth ( z) of the agg~gate of the twelve monLhly installments payable in the then current year plua the actual amount of the annual taxes, asBessmente, water rat,ee, and insurance pr~miuma for such year ~ not oovered by the aforesaid~nl~c paymenta. 10. In the event of any breach of this mortgage or default on the part of the Mortgagor; or in the event that ~ any of eaid ewns of money herEin referred to be not promptly and fully paid according to the tenor hereof~ or in the event that each and every the stipulations, agreements, oonditione~ and covenanta of sa.id note and this mortgage~ are not duly~ promptly, snd tully performed; then in either or any such event, the eaid aggregate sum mentioned in said note then remaining unpaid, with interest accrued to that time, and all moneys secured 6ereby, ahall become due and payable forthwith, or thereafter, at the option of said Mortgagee~ as fully and completely ea if all of the ~ eaid suma of money were origtnally stipulated to be paid on such day~ anything in esid note or in this mortgage to ~ the oontrary notwithstanding; sad theceupon or thereafter, at the option of said Mortgagee, without notice or demand, suit at law or in equity~ may be prosecuted as if all moneys aecured her~by had mature~ prior to its institu- ; tion. The Mortgagee may forecloee this mortgage, as to the amount ~o declared due and payable, and the said ; premiees ahall be sold to satisfy and pay the same together with ooets~ eaponees, and allowances. In caBe of partial ~ foreclosure of this mortgage, the mortgaged premises shall be sold aubject to the oontinuing lien of this mortgage } ~ for the amount of the debt not then due and unpaid. In such caee the provi~ona of this paragraph may again be ~ availed of thereafter from time to time by the Mortgagee. ~ 11. No waiver of sny covenant herein or of the obligation secured hereby ahall at eny time thereafter be held ~ to be a waiver of the terms her~of or of the note secured hereby. a; 12. The lien of thia inatrument shall remain in full force and etiect during any postponement or eatenaion of r; ~the time of payment of the indebtednesa or any part thereof secured 6ereby. ~ ~ 13. If the Mortgagor default in any of the covenants or agreements contained herein, or in said note, then the ' ~ Mortgagee may perform the same~ and all expendituree (including reasonable attorney's feea) made by the Mortga~ee ~ in so doing shall draw interest at the rate provided for in the principal indebte~lness, and shall be repa~ able ~ thirty (30) days atter demand, and, together with interest and costs accrued tliereon, shall be secured by ' this mortgage. 14. Upon the request of tbe Mortgagee the Mortgagor shall eiecute and delirer a supplemental note or notes for the sum or suma advanced by the :ltort.gagee for the alteration, modernization, improvement, main- tenance, or repair of said premises, for tares or as~essments against the same and for any other purpose autlior- ized hereunder. Said note or notes shall be secured hereby on a parity with and as fully as if the ad~•ance ~ evidenced thereby were included in the note first described above. Said snpplementai note or notes shall bear ~ interest at the rate provided for in the principal indebtedness and shalt be payable in a~proiimatel~~ equal ~ monthly pay ments for such period as may be agreed upon by the creditor and debLor. Failing to agree on the ` maturity, the whole of the sum or sums so ad~ anced shnll bc due and pa~ able thirty (30) days a(ter demand by t6e creditor. In no event shall the maturity extend beyond the ultimste ~iaturity of tl~e note fi~st describedsbove. 800M~~V ~~i905 - _ . . . - - r ~~~,r-~ ; ~ ~ ~ ra ..~z-~- ";x~•,~,, ` , ~ - _ ~=a~`-n~€