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Home My WebLink About2101 [rp(i(~r ~O ~~IP !~~lurtKu4;~•l` 111 1?l'COC1~8111'P Ki~~l ~jIN provixio~?a or u~~~ IIU~P !it'l'U~III f~•u~~ ~u~, Pa~naa-~~a entire indebtedne~s reprNx~~~ted therebv, thr Mortg~ee, ea trus~~~r. shaA in cou? ~utin th~ an~~,unt ot aurh se indebtednesa, credit to tl« uccow~t o( 1~i~~ ~lort gaKor ot~y cndit balancr ren?einin und~r tl~e rovi~io~?s of (a) ot ssid parsgrsph Z. It t1~erP sliull be s default under any ot ti?e Nro~'i~io~~a of tl~i~ n?ortga~;e nwul~in~ in a ~ public sale ot the p~rmis~~s cov~+red hereb~, or i( tl~e MortgagNe eequ~res 1hc propen~ otl~ervk~sc after dc[ault, the Mottgagee~ as truatee, al~all apply, st the tu~?e of the eou~uiencement af sucl~ proc•~edinga or a1 the tin?e u tlie propert) i~ otherwise acquired~ the amount tl~en rviuainin~ ~o creclit of Mort~agor undet (a) of paruKra h 2. preceding aa a credit on ti~e inte~eaC acerued and unpaid a~d tt`e balance to tl~e principal tiien rnuiainin~ un~aul on said note. 4. He will p?y ~11 taxe0. aaeeeements, ~ster I*Les. and other ~overnmentsl or muaicipal et?srges, 6nes. os ianpoeitions, for wbich proviaioa ~r°et the offi reoeipte ~tLerefor to the M°rt,gpgee. the Mo~t~gee msY P~Y ~ e~?me; sad tbat 6e will promptlY 5. Ha wiU per~nit~ oomm[t, or euSer no waats, impsiranent, ot deteriore?tion ot e~uid proPertY or sn Part thereot exoepL reseonable wrear sad Lesr• and in the event ot t6e failure oi the Mortg~agor to keep the Mort on ~ premises and those to be erecte~ on eaid pnmiee0. or improvemeats t6ereon, in 6ood repsu' make such np~?iis as in ite diecretioa it msy deem neoeesarY for the W'oPer Preec.rvatioa thereo#~ aad the full amount of each and every suc6 psyment shall be due aad pe?yabb thirty (30) dsys after demsnd, and e6all be sec~ued by Lhe lien of this mostgage. - 6. He wlll pay all and eingulsr the ooete, ch~rg~, and e~pens~, including reaeonsble ls.vyer's fees, und ooscs of sbetracte of title~ incurred or psid st eny Lime by the Mortgagee becauee of the fsilure on the pset of t6e Mortg~agor promp~ly und full,y to pedorm the egreements aad covenanta of esid pmmieeory note and this niortgage, and Said eoete, chargee~ ana expeaees shall be immedistel,Y dua snd Pa?Yable and sha~ll be eecured by the liea of this mort~ege. 7. He will oontinuous~y maintsin hszard i~urance, ot auch type or types snd smounta as Mortgagee msy from t,ime to t?me require, on the impmvemente aow or hereaiLet' on said premisea and excePt when payment tor all such premiuma haa theretofore bee° m°de under (s) of psragrsph 2 hece~f ~he will psy pmmptly when due any premiums Lherefor. AU insurance s6a11 be carried in oompaniea spprove~ bp I?io~ee and the poli- cies and renewals t6ereof shall be held by Mortgagee snd Lave sttached thereto losa paysble uaeB ia favor of and in form aoceptsble to the Mort,g~gee. In event of losa he vvill give immediste notice by msil to Mortgagee, and Mortgagee may mske proof o~ Iosa if not msde promptly by Mortgagor, and each insuranoe oompany aoncerned ia hereby~authorized and directed Lo make payment for such 1~ ~~f ma be app7ied by Mort~- to Mortgagor and Mortgsgee ointdy ~ and the inaurance praceeds~ or anY P gagee at ita option either to t~e reduction of the indebt~dnee~ hereby eecu~ or to the restoration or repair of the propert,y dama~ed. In event of forecloaure of this mortgage or other transier of titte ta the martgsgad property m ext?ngu~shment oi the u?debtedness secured hereby, a~l right~ title~ and iaterest oi the Mortgagor m and to any insurance policies then in force ahall pASa to the purcLaser or grantee. 8. tf the prn~ui~~s, or an~• part thernof, be eondenined undcr U?e power ot emi~~ent• dai~ain, or a~•quired for a publie use, tlie cla~nagrs av?arded, the proceeds [or the taking o(. or the ~onsiderutian for such acqu~sition~ to tiie extent of tl~e full an~ount of tl?e rnn~aining unpnid incleLte~h~ess se~ured h~ tl~is mort~a~e, arn 1?ernb~- ussir~it•d to th~• ~lort~a~ee, und his h~•irs or acsiKus, un~l shnll tx~ paid forthNitl~ to suid ~1ortK+~~~~• or liis s~.,siKnee to l~ applied on aei•ount o[ ti~e last u?uturmK installn~ents of su~•1~ indcbt~dm~~; pm~ided. 1?o~c~~ver, ilie ~1ort~aKec~ or hi.s as.~iKn~~e, ~uu~- at his dis~•rrtion pa~• ~lirert io tl~~ ~Iortgu~or, his h~~in or a.~.siKns an~• part or all of sucii award; pro~ided. tLut if the lo~u is Kuuruni~~d or insurr~cl, the conseut of tl~e guacaniur or insurer is obtained in advance of said pucim~ut. 9. The Mortgagee may, st anY time pending a suit upon this mortg,age, spply to the oourt havin8 lurisd~ction thereof for the appointment of a receiver~ and such court shsll forthwith appoint a receiver of the premiaes eovered hereby all sud singular, including all and singular the income, Proste, ie~e~, a~d revenues fmm whatever source derived, each and every of which, it being expressly understood. is hereby mortgaged sa if specifically eet forth and deecribed in the granting and habendum clawaee hereof. Such appointment shall be made by such oourt ae an admitted equity and a matter of absolute right to said Mortgagee~ and ~vithout reference to the adequacy or inadequacy of the value of the praperty mortgaged or to the solvency or insolvency of said Mortg,egor or the defendanta Such t~nta, Profits..income~ issues, aad revenues shall be applied by such receiver a~coording to f,he lien of ~mortgager ' a~nd the pract~ce of such oourt. In the event of any defsult on the part of the Mortg~gor hereunder, rt~ago 'I to psy to the Mortgagee on demand sa a reaAOnsbie monthiy rental for the premiees an amount at lesst f ~alent to on~twelith (~s) of the ag~egate of the twelve monthly installmenta p~yable in the then current ~ yesr plus the actuai amount of the annusl ta:es, aseeasmente, wster rates, snd insurance premiuma for euch ye~?r not oovered by the aforesaid monthly paymenta 10. In the event of any b~each of thia mortgage or default on the part of the Mortgagorr or in the event that any of Said aums of money here'in referred to be not promptly and fully paid accordiag to the tenor hereof, or in the event t,hat esch and every the atipulations, agreements, conditione, and oovenants of said note snd this mortgage, are not duly, promptly, and fully performed; then in e~ther or any such event, the said aggreg,ate sum mentione~ in esid note t6en remeimng unpaid, with interest accrued to that time, and all moneya secured hereby, shall beoome due and payable forthwit6, or thereafter~ at the option of said Mortgagee~ as fu11y snd completely aa if all of the esid sums of money were originslly stipulated to be paid on such day, anyLhing in said note or in this mortgage to t6e aontrary notwithstanding; and thereupon or thereafter~ at the option of said Mortgagee, without notice ~r demand~ suit at law or in equity, may be prosecuted ss if aU moneys eecured hereby had matured prior to its institu- tion. The Mortgagee may foreclose this mortgage, sa to the amount ao declarec! due and payable, and the said premieea ahall be sold to satasfy and pay the same together with co~ts, expenaes, and allowances. In case of part,isl foreclosure of this mortgage, _thg mortBaB~ P~m~~ ~~ld subject to tbe continuing lien of this mortgage for the amount of t6e debt not then due and unpaid. In such caee the provisione of this paragraph may again be svailed of thereafter from time to time by the Mortgagce. 11. No ~vvaiver of any oovenant herein or of the oblig,ation secured hereby s6s11 at any time t6ereafter be held to be s waiver of the ternos hereof or of the note secured hereby. 12. 1'he lien of this instrumenL ahsll remain in full force and eSect during any poetponement or extenaion of the time of psyment of the indebtedneea or any patt thereof eecured hereby. ~ 13. If the Mortg,agor default in say of the covenants or agreementa oontained herein, or in said note~ then the Mortgagee may perform the seme~ and all ezpenditures (including ressoneble attorney's fees) made by the MortgaKee in so doing shall draw interest at the rate provided for in the principal indebteclness, and shall be repayable thirty (30) days after demand, end, together with interest and costs accrued thereon, shall be secured bq this mortgage. 14. Upon the request oi t6e Mortga~; ee the Mortgagor shall eaecute and deliver a supplemental note or notes !or the sum or sums advanced by the ~tortgagee for the alteration, modcrnizstion, improvement, main- tenance, or repair of said premises, for taxes or as.~essmcnts against the same and for an~ otiier purpose autt?or- ized hereunder. Said note or notes shall be secured hereby on a parity with and as futly as if the advance evidenced thereby were included in the note first described above. Said supplemental note or notes shall bear interest at the rate provided for in the principel indebtedaess and shall be payable in a pmximstely equal monthly payments for such period as may be agreed upon by the creditor and debWr. Fa~ing to agree on the msturity, the whole of the sum or sums so advanced s6all be due and pa~sble thirty (30) days after demand by t6e creditor. In no event shall the msturity extend beyond tbe Wtimate r~atwity af the note first described sbove. ~ ~i ~ PAGE~~ F.: _ _ ~ _ _ _ ~a ~ - _ - _ - e