HomeMy WebLinkAbout2366 . ~ ' ~~tEG~BIE
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such defsult are hereby asaigned to thP ltort agee ae further security for the
~yuldl#~E ~e ~f'bdlENt'e~k8g'l~eFib~d'4k~L~: ~Stt~'~lb~ct~~~~~`~`Y~o ~~~~~sess,
by ~+k ~Tletfa~~!'y'`~Ped~A~;'~~~t~snA~E'~di~~l~Vfr'i~e ~~t~'~~
~*~ilkl~! ~lB~tl~ M3~!'t~li~e~:~n .Yxtu~nis ~ y ebut~nl t eria Ysamur. oi~ q s:.~ ~:.~:q
.as~. ~~•:7 ~anea s~i~ Ysvg~sr~v aib.-~n5g tta o~ ~tds:.itq?~ ~d E:sBe
h In the event hat the~ rt $a~,or ~ccupiee~t e rt F ~jt..
any paY'~t~ c~r~~; `"tl~~~ ~'e'~fii~t'~d ~t~i~l ~~d~ sd sd~c !'lcty Y 3
to the lbrtgagee imaeciigfll~~~a'f~e~'0I~'~? i~~ di~~u~~?~ r, °a~ i~f t~'e'''~--. - ti
M,ortgagor remei~s in poasession after such default, such posaession shall be
ae a tenant of the Hortgagee, and the Mortgagor ahall pay in advaace, upon
de~cand by the Mortgagee, as a reasonable monthly rental for the premiaes occu-
pied by the Mortgagor, an amount at least equivalent to cne-twelfth of t6e
aggregate of the twelve monChly installments payable in the current calendar
~cess,_~lus the acCwl amaunt of-t~ae-au,aual ground rent, if any, taxes, asseas-
n?ents, Water ratee, other governmental charges, and insurance preeaiuns papable
in connection with the uart~a~;ed property during euch year, and upon the failure
of the Mortgagor to pay svch monthly rental, the Mortgagor coay also be dispos-
sessed by the usual sunmai-y proceedings applicable to tenants. This covenant
shall become effective iG~mediately upon the happening of any euch defau2t, as
tietetnt'irted in the sole discretion of the Y=o:tgagee, vho shall give notice of
such detetmination to th~ MortgaK~r; and in the case of foreclosure and the
appointmen[ of a receivcr of thc rents, the within covenant sha12 inure to the
benefit ~f suct: .ece:ver. ~
14. The Mortgagee in a~iy ~~;~*_:o-~ to foreclese this Nortgage shall be entitled
to th2 appointment of a rece:vc•r ~;irl;out notice,. as a matter of right atd vithout
regai•d to tlia value of the mo~ :.gaged property, or the solvency- or insolvencq of
the Mortra~or or other ~:arty ~ia~l~ for the pay-ment of the Note and other in-
debtedness secure3 hX___*_`~i~ ;~torts~age. . ,
15. The Hortgagor, wichin tPu (?0) days upcn request in pers~a or t+ithin
twenty (24) days :~pv~~ ~eq~les* l:y ~3i1, vill furnish promptly a written statement
in form satisfact~r~: to Fhe Mori~;a~cee, signed by the Mortgagor arrn duly ackaaw-
ledgecI, of the amoun~ *hen owing c:i the NoCe and other indebtedness~secured'by
this Mortga~e, and wher~.~~• any o:fsets or defenses exist against such indebtedness
or any p;rt thereof.
i ~ 16. T:ie Mart€agor wil3 t;:ve i~r~ediate notice by registered or certifie~i rsail to
the Mortgagee of eay fire, d_3,:.aE~.~ ~r other casualty affecting the mortgaged
i property~ or of any ~~nitvrvA[1Ce, transfer or change in aWnership of such property,
i or any part thereof.
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17. Notir_e and dem~~n.~ c~- r: ~~u•.sY ~•ia~ be r.ad~ in writin~ and may be served in
~er9on oi- by ^.~til.
. ;
18. I~ case of R fo, e~ L~r-ur~ ~ate of the aartga;,e.d prnperry, it mey ye sold '
. iR one parc~l.
19. The Mnrt~;aR~r w; ? 1 a<si_;~r the rents, i~ any, ir: ~.•ho4~ or in part, from
the morr~:~~;P~! ~~ro~e~ ry, ~r a~~v ~arF thereof, witt~out the prior wricten consent
of the. t~ort~a~ce. ~
2(?. 'ti~e 'tortpa~cr i y 1~:~~ •=i ly sAiz~:] of the mot ~.~;~•s~r-1 ~~rrE~er<<~ a~x~ i1~~: gn~ ,
right, full ~•~~~er. ar.~l lawf~,~l a±~thority to ce21 :~nJ c-~nve~• thP sa~ in the c~am~er
abov~ pr~vi~!e~l ~ and wi l l Kar. _ ant and 3efenl the same ~-o tl,« ~tnr ~~!a~pA forevPr
against thc~ 1 ataf+~l c lair~~~ :~~d demands of any an~1 A 11 part i~:: s:F~at =oevPr.
21. The Morl-ga~~r he~-~_by kaives the beriefit ~f a1 ~ hc•mestea~l e~:~~~ni~~ ion~ as to
. the debr secured by ti~is :~fort~;A~e and as to any Px~enditure £c?r insurances,
~ taxes, levies, assessments; dves or c~argea incurred by the Mortgagee pursuant
~ to eny j~rovis.ion of this Mo:*~a~e. ~
~ 22. This Mortga~E anc; a2~ t1~e covenan[s, agreements, terms and conditions
herein contained shall be binding upon and inure to the benefit of the Mortgagor
~
~ ard the heirs, legal represe~itatives and assigns of the Mortgagot, and, to the
extent permitted by 2aw, evc~ry subsequent oRmer of the mortgaged property, and F
~ shall be binding upon and inure to the beaefit of the Mortgagee and its assigns.
If the Mortgagor, as defined herein,c~nsiats of two or more parties, this
~ Mortgage shall canatit~*e a grant and mortgage by all of them jointly atd
severally, and they shall he obligated jointlq aad severally under all the pro-
vis~.on$ hereof: and under the Note. The word "Nortgagee" eFiaYl i~bt~~e any
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