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Home My WebLink About1965 . . . tender to the Mortgag~ee In sooerd~nce with ths proviaions ai tl?a note secnred I?rreb~, iull pscment ot the entire indebted~ees reprisented thenbv, the Mortgagee, aa t~ruatee~ shall, in compuling tlte aniount oI aucli indebtedaeee, credit to the ~ccount o[ tbe Mortgagor any eredil balanoe rem~ining undec tli~? prQVisions of (a) ot s~id r~ph Z. 1f there sh~ll be a de[~ult under tay oi tl~e provieions ot this iuortga~e resulting iii a - public s~l~ the premises covered hereby, or it the Mortgagee acquirea the propertr otherwise sfter dotault, the Mortgagee~ as trustee, sh~ll spply, st tha tima af the commencement oi auch proceedings or et tl?e time the properts ia otherwisc ~?cquired, the nmount then ~emainin to credit oi Morigagor undcr (a) of paragrapl~ 2 prec~ding es a credi~ on the in~erest ~ccrued and uapaid wd ~ bul~nc~e to tlie principal t,~en reiuaiuing unpaid on stid note. 4. He wIll puy a1t t~?xes, a~eeeesments, wstee r~t~es, snd othergov~ernmental or municiP~ ~i'Bi0. or impositions, fot which proviaioa 6ae noL beea made Lereinbeiore, and in detault thereof tbe Mortga6~ ~Y PaY ~ ° e~me; ~nd tL+?t he will P~mnc?Pt~j? deliver the offidal reoeipts tberefor to tbe Mortgegee. ~ b. He wtU permit, vommit, or euBer no waate, impAirmeat, or deterion?tion of eaid pmoperty a~~ny part tbereof :Y exoepL reaeonable wear end teu• and in the event of the failure af tbe Mor~or to loeep the buildiags on eai~ ~ premieee nnd thflee to be erecLec~ on saLd pe~isea, or imtxvvementa theroon, :n ~ud mpenr the Mortgagee may mslce such np~iis ~us in its diecretion it m~?y deean neoeeeary for the proper preeervation thereo~, and tbe full smount ~ ai each and every such pa,yment s6~ll be duo aad PeU~bb t~irty (30) d~1Ya stt~er demand, and ebe~ll be securod by ' tbe liea of t~is nno:tgage~ ; 6. He will pay all and atngular the ooste, ~nd e:peaeea, including reaaone?ble le?wyetr's ~eee, end ooets e[ sbstr~ets oE title, incurred or psid st e?qy time t~ortg4gee becauee d the failure on the part o~ the Mo~o~ promptly ~nd i to pedorm the a~eementa and oovenante d eaid promieeory note and tLis mo , and aaid ~s~, ~~P~~ ~b~all be vnmediste~y due ~nd pey~ble und ehsll be seeured by the L'en ot t~s mortg,age. ~ T. Ae ~1 oontinuoue~j maintain hsaud i~wytna, of euch type or t~pes snd smounts as'•I~iortgagee may trom time to time require, on the improvemente now or hereafter on eaid p and except when p~?ment for all such premiums Laa~theretofore been made under (s oi paragra~?h ~ h~e will pay promptly when ' due sny premiums thore~for. All insunnoe shall be csrri~in eompanies sppmve~ by Mo~tgag and the poli- hall pa eies i?nd renewale t6ereof ahnll be held by Mortgagee aad hsve attached tLareto loes payable-cTa~usee in favor of and in form iwoeptable to We Mo g In avent of loes he ~vill_ give immediate not~ice by mail to 1?iortgagee und Mortg~agee msy make,prooi o~t f8loes it n~ot msde promptly by Mortgagor~ sad ee~ch mawnnae oompanp ~oncernod is bereb suthonred and directed to make p~yment for such loes directly to Mort~s~ instead of ere to I~iortgag~or and ~ortgsgee jointly, ~nd the insuranoe pmoeeds, or any part thereof may be app7ied by Morw • ~ages st its option eitber to tbe raduction oi the indebtednees hereby secured or to t'he restoration or repair of the pmpert,~ damaged. In event of forecloeiaue of tLis ~ort~~, or other t~raasfer of title to the mortgaged pmperty in e~ctingu~stiment oi t~he indebtednees seenred hereby; aU right, title~ and iaterest of the b~u~tgsgor m~nd to sq~ insur~aoe poli~ies ~an in foroe a6a11 ps~s t~O tLa pur~aser or gnatee. ; 8. I~ the premiBes, or snr pari dicreoi, be condenmed mnder the power ot enunent donisin or acc~uircd for t s public uee, t1iP dainages ~?warded, tlie prooeeds for thet,ak~ng oi or the consideration for sur~i acqu~~tion, to ; the extent o[ the full smount of thp remaining unpaid indebtec~nees eecurnd br this n~onga~?, arn )?enb~ assigneci to Uie Mortgagee, snd his heira or aseigns, uid shall be paid torthwith to said Mortga~ or lus _ osa~gnee to be spplied on sccount of the last msturing installmenta of sucli indebt~?dness; provided, l?o~c~er, che Mortgagee or hffi assi~?ee, may at hia discretion par direct to the Morigagor, lus lieus or essigns anc pnrt, or all oi such aM~ard; provided, that ~f the loan is Euar~?nteed or insured, the conseut ot the guurautur or insurer is obtained in ad~ance ot ssid ps~~~unt The Mortg,sgee may, st sn7 t~e I~n~iDB ~ snit upon thie mortgal~, ~?PPj9 to the eourt huvtng jurisdict3on tbereol for the appointment of a t~eoeiver, sad sucL ew~rt ehaIl forthwlth appoint a receiver of the premiees oovered bereby all arid eingular, includiaa all snd singular the ineome profite, iasues, s?nd revenues fmm whatever eouroe derived, esch and every of ~hich, it being a~preesly nndenatooc~, is hereby mortgaged ae if epecificalty eet forth and dee~ribed in the ~anting snd habendum elsuse~e hereof. Sucb appointmeat absll be made by such court as an a~:.~itted equity and a matter of absolute right to eaid Mortgagee, and ~vitbout referenoe to the adequacy or inadequacy of ' the value of the pmperty mortgagcd or to the solvency or i~lvency of said Mortgagor or t'~e defendanta. Such ~ ~ renta, pro5te, in~ome, issues, and revenuee shall be spplied by such reoeivet acoording to t~he lien of this mortgage ~ snd the practiee of euch oouit. In t~e e~ent of aay default oa thep of t6e Mortgngor hereunder, the Mortgagor e sr~ ; ~greee to pay to the Mo on demand as s reseonable montbly rental for the premises an amount at leaat ~ equivalent to one-tweUth ( s) of t6e aggregate of the twelve monthly inst~allment8 peyable in the then current s year plua the sctual amount of the annual taxes, aeoeesments, trater ratea, and insuranoe premiums for such yeat not oovered by the aforeeaid monthly psymenta. ~ lO.In the event of any breach of thia mortga,ge or default on the pert of the riortgagor,.or in the event that ~ ~?ny of eaid aums of money herein referred to be not pmmptly and fully paid accordu'~g to the tenor hereof, or in the event that each ~nd every the atipvlations, sgreementa, uonditiono, and oovenants of eaid note and this mortgage, are not duly, promptly, a~nd fully pertormed; then in either or sny such event, tbe esid aggregate Bum mentioned in said note then remaining unpaid, ~vith interest acerued to that time, and aU moneys eecured hereby, shall become - due and psyabk forthwith, or thereafter, at the option of eaid Mortgagee, ss fully snd completely as if a!1 of the said suma of money were originally stipulated to be paid on such day, snyLhing in said note or in this mortgage to ~ the oontrary notwithstanding; sad thereupon or thereafter, at the option of said Mortgagce, v?~thout notice or demand, suit at law or in equity, may be proeecuted as if all moneys ~ecuted hereby had matured prior to its inatitu- tion. The Aiortgagee may foreclose this mortgage, as to the amount eo declared due end pa~able~ and the said premiees ahall be sold to satisfy and pey the same together with c~sts, expenses, and alloRances. In case of partial ~ foreclo~urE of thia mortgage, the morigaged premises ehall be eold subject to the oontinuing lien of this mortg~;e ~ for the amount of the debt not then due and unpaid. In such caee the provisions of this paragraph may again be ~ availed of thereafter fmm tame to time by the 1liortgagee. . I1. No ~vsiver of any oovenant herein or of the obligation eecured Lereby shall st any time thereafter be held to be a ~vaiver of the terno~ hereof or of the note secured hereby. ~ " 12. T6e lien of ttiis inatrument ahall remein in full foroe and efiect during any poefponement or extensioa of the time of peyment of the indebtednees or ~?ny part thereof eecwed hereby. ~ ~ 13. If the Mortgagor default in any of the ooven~nte or agreements contained herein, or in asid note, then the K " Mortgagee msy pertorm the same, and all expenditures (including r~aeo~able attorney's feea) made by the AiortgaRee ~ in so doing shell draw interest at the rate provided for in the principul indebtedncss, and shall be mpa~•able _ thirtiy (30) daya after demand, and, together with interos6 snd costa socrued tLereon, ahall be secured by thie mortg~e. ~ ~ 14. Upon the request of the Morigagee the Mortgagor shslt execute and deliver a supplem~ntal aete ~r ~ notes for the sum or auma ad~anced by the ttortgagee for the alteratan, modernization, improv~ment, ~ain- ~ tenance, or repsir ot asid premises, for taxes or a~essments against the same and (or any other purE~osc author- ~ ized hereunder. Said note or notes sliall be secured hereby on a parity with and u fully as if the ad. axce evidenced therebq were included in the note Srst described above. Said supplemental note or notes sl~all benr ~ interest at the nte provided for in the principal indebtedness and shall be payaUle in appruximat~ 1~' equal ~ monthly pay•m~nts for auch period as may be aoreed upon by the creditor and debtor. Failin~ to a~rec on the maturity, t.he M•hole of the sum or sums sa ad~snced shall bc due and pa~~able t6irf,y (3(1) dn~'s aft~r ~ic~mnnd " by tlie creditor. In na eYep~ shRtl tlie matutity extend bc~ond the ultimate rsaturity of ~Lc nole firs6 ~ described above. - U ~ ~ BOOK~ PAGf~~~ ~ n ~ a ~X~ ~ ~`~~~~~5 F ~ . . _ . ; ~~b~~~`~ ~ r . . . ~ _ . Y . ~ ~a